**Charity registration number 1160899**
**Company registration number 09349513 (England and Wales)**
## **HEADWAY WEST LONDON LIMITED**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2021**
## **HEADWAY WEST LONDON LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Mr EH Lassman Mrs CM Cahill Mrs CE Leech Ms LM Li Miss LJ Murphy KS Wilkinson (Appointed 11 November 2021)
**Charity number** 1160899 **Company number** 09349513 **Principal address** Panagram 27 Goswell Road London EC1M 7AJ **Registered office** Panagram 27 Goswell Road London EC1M 7AJ **Independent examiner** Jervis & Partners 30 Harborough Road Kingsthorpe Northampton NN2 7AZ
## **HEADWAY WEST LONDON LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 12|
**TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **HEADWAY WEST LONDON LIMITED**
The trustees present their annual report and financial statements for the year ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) " (effective 1 January 2019 ).
## **Objectives and activities**
We work with adult traumatic brain survivors (18 and over), their families and carers in West London as they leave hospital and begin their rehabilitation process & ensure vulnerable, isolated brain injured survivors do not fall through the net. Our aim is to help them achieve their full potential by providing support, expert advice and signposting them to and also offer our own targeted training to enable them to improve their resilience, health and well -being and we also offer return to work sessions. Throughout the pandemic, we have continued our service at the St Mary's and Charing Cross hospitals. Over the past two years, as the impact of the coronavirus pandemic has increased, our working methods have had to change completely into virtual ones. We have been providing vital virtual support via the phone, What’s App, Zoom, newsletters, emails, social media and from our website. We have also continued to plan new training and health and well -being pathways so that we can continue our work post COVID 19. Our help has been particularly crucial to survivors and carers during the vital initial stages of recovery and rehabilitation, including helping them overcome the challenges in coping with their complex health, social and economic problems and in combatting the isolation and vulnerability that is usually experienced. We have further expanded our day support group service which is being run by our two link workers and volunteers. We have organized regular online training and information sessions and interactive social and group activities for our beneficiaries including their carers. This year, as a result of increased demand, we recruited a second support worker to support our outreach work in the community and we are running targeted health and wellbeing projects and also more keep fit and art and craft activities to encourage our beneficiaries to reconnect with their communities. We have now moved to a blended approach with far more activities in person as well as supporting beneficiaries who are still concerned about face to face We provide information via our website, newsletters, Facebook, twitter and our support groups.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## **Financial review**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
- 1 -
## **HEADWAY WEST LONDON LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **Structure, governance and management**
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr EH Lassman Ms SC Moore (Resigned 9 September 2021) Mrs CM Cahill Mrs CE Leech Ms LM Li Miss LJ Murphy KS Wilkinson (Appointed 11 November 2021)
The trustees' r eport was approved by the Board of Trustees.
## **Miss LJ Murphy**
Trustee Dated: 3 May 2022
- 2 -
## **HEADWAY WEST LONDON LIMITED**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEADWAY WEST LONDON LIMITED**
I report to the trustees on my examination of the financial statements of Headway West London Limited (the charity) for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Jervis & Partners**
30 Harborough Road Kingsthorpe Northampton NN2 7AZ
Dated: 3 May 2022
- 3 -
## **HEADWAY WEST LONDON LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
7,527
33,750
Charitable activities
**4**
-
-
Investments
**5**
6
-
**Total income**
7,533
33,750
**Expenditure on:**
Raising funds
**6**
660
-
Charitable activities
**7**
5,722
37,936
**Total expenditure**
6,382
37,936
**Net incoming/(outgoing)**
**resources before transfers**
1,151
(4,186)
Gross transfers
between funds
1,327
(1,327)
**Net income/(expenditure)**
**for the year/**
**Net movement in funds**
2,478
(5,513)
Fund balances at 1 January
2021
42,190
44,150
**Fund balances at 31**
**December 2021**
44,668
38,637|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2020**
**2020**
**£**
**£**
**£**
41,277
18,155
57,886
-
30
-
6
9
-
41,283
18,194
57,886
660
1,416
-
43,658
2,478
22,987
44,318
3,894
22,987
(3,035)
14,300
34,899
-
(1,001)
1,001
(3,035)
13,299
35,900
86,340
28,891
8,250
83,305
42,190
44,150|**Total**
**2020**
**£**
76,041
30
9
76,080
1,416
25,465
26,881
49,199
-
49,199
37,141
86,340|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 4 -
## **HEADWAY WEST LONDON LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2021**_
|**Notes**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**11**
Net current assets
**Income funds**
Restricted funds
Unrestricted funds|**2021**
**£**
85,610
(2,305)|**£**
83,305
38,637
44,668
83,305|**2020**
**£**
87,161
(821)|**£**
86,340
44,150
42,190
86,340|
|---|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 3 May 2022
Miss LJ Murphy
**Trustee**
## **Company registration number 09349513**
- 5 -
**HEADWAY WEST LONDON LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
## **Charity information**
Headway West London Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Panagram, 27 Goswell Road, London, EC1M 7AJ.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 6 -
## **HEADWAY WEST LONDON LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
## **(Continued)**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.5 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
## **1.6 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.7 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
- 7 -
## **HEADWAY WEST LONDON LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**£**
**£**
Donations and gifts
5,027
-
Grants received
2,500
33,750
7,527
33,750|**Total**Unrestricted
Restricted
funds
funds
**2021**
2020
2020
**£**
£
£
5,027
7,655
1,400
36,250
10,500
56,486
41,277
18,155
57,886|Total
2020
£
9,055
66,986
76,041|
|---|---|---|
## **4 Charitable activities**
|||**Charitable**|
|---|---|---|
|||**Income**|
|||**Heading 1**|
|||**2020**|
|||**£**|
|||**Charitable**|
|||**Income**|
|||**Heading 1**|
|||**2020**|
|||**£**|
|Sales within charitable activities||30|
|**Investments**|||
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Interest receivable|6|9|
## **5 Investments**
- 8 -
## **HEADWAY WEST LONDON LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **6 Raising funds**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Fundraising and publicity|||
|Seeking donations, grants and legacies|-|281|
|Trading costs|||
|Support costs|660|1,135|
||660|1,416|
- 9 -
## **HEADWAY WEST LONDON LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **7 Charitable activities**
|Staff costs
Newsletters
Computer costs
Secretariat
Sundry expenses
Mobile phone
Donations
Collection costs
Fees
Printing, postage and stationery
Training
Insurance
Reactivate fees
Staff hiring fees
Events and room hire
Membership
**Analysis by fund**
Unrestricted funds
Restricted funds
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Legal and professional
-
660
-
660
Analysed between
Trading
-
660|**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2021**
**2020**
**£**
**£**
37,936
22,987
39
39
557
263
30
35
143
147
258
594
-
1,400
249
-
475
-
534
-
224
-
709
-
1,334
-
575
-
440
-
155
-
43,658
25,465
43,658
25,465
5,722
2,478
37,936
22,987
43,658
25,465
**2021**
Support
costs
Governance
costs
2020
**£**
£
£
£
660
-
1,135
1,135
660
-
1,135
1,135
660
-
1,135
1,135|
|---|---|
## **8 Support costs**
- 10 -
**HEADWAY WEST LONDON LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **9 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **10 Employees**
The average monthly number of employees during the year was:
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
||3|2|
|**Employment costs**|**2021**|**2020**|
||**£**|**£**|
|Wages and salaries|36,255|22,142|
|Other pension costs|1,681|845|
||37,936|22,987|
There were no employees whose annual remuneration was more than £60,000.
## **11 Creditors: amounts falling due within one year**
|Other taxation and social security
Trade creditors
Accruals and deferred income|**2021**
**£**
824
161
1,320
2,305|**2020**
**£**
-
161
660
821|
|---|---|---|
## **12 Retirement benefit schemes**
## **Defined contribution schemes**
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £1,681 (2020 - £845).
- 11 -
## **HEADWAY WEST LONDON LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**13**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2021**
**2021**
**£**
**£**
Fund balances at 31
December 2021 are
represented by:
Current assets/
(liabilities)
44,668
38,637
44,668
38,637|**Total**Unrestricted
funds
Restricted
funds
**2021**
2020
2020
**£**
£
£
83,305
42,190
44,150
83,305
42,190
44,150|Total
2020
£
86,340
86,340|
|---|---|---|
## **14 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none) .
- 12 -