## **Headspace Annual Report of the Trustees for the year ended 31 December 2024**
## **Registration and Trustees**
Headspace is a Charitable Incorporated Organisation which is governed by a constitution adopted on 5 June 2020. Headspace was registered by the Charity Commission for England and Wales on the Register of Charities on 8 June 2020 – Charity Number: 1189822.
There are currently five trustees of Headspace:
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Name Role Appointment Date
Kathryn Helen Pulham Chair 8 June 2020
Kevan Taylor Trustee 8 June 2020
John ap Robert Jones Trustee 4 December 2024
Nikita Smith Trustee 9 April 2025
Gareth William Davies Trustee 16 July 2025
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During 2024, there were significant changes to the trustee board. Sadly Helen Adams, who was the inspiration for the creation of Headspace, passed away. Also Jon Wareing and Thomas Ian Watmore both resigned after more than three and two years of service respectively.. Patrick Flaherty and Paul John Ludlow also stepped down during the year. John ap Robert Jones was appointed as a new trustee in December 2024. After the year end, Julie Daphne Mitchell resigned in 2025.
Trustees are appointed with reference to their expertise in relation to the needs of the charity, most notably safeguarding, child welfare, financial management and fund raising. All future appointments of trustees will be for an initial term of 2 years. Trustees are appointed with reference to their expertise in relation to the needs of the charity, most notably safeguarding, child welfare, financial management and fund raising.
Four meetings of the trustees were held during the year.
All of the trustees act as volunteers for the charity and receive no remuneration for their services.
## **Objects**
The objects of Headspace as laid down in its constitution are:
for the public benefit the promotion and protection of good mental health of young people in Gloucestershire and the surrounding areas, in particular but not exclusively through the provision of counselling programmes, signposting and support services
to relieve the needs of people in Gloucestershire and the surrounding areas experiencing mental illness, their families and carers in particular but not exclusively by provision of advice, information and support services.
## **Activities**
The activities of Headspace during 2024 focused on consolidating and expanding the range of wellbeing services provided whilst maintaining counselling services for young people in secondary education. The charity continued its fundraising efforts through donations and grants to sustain its activities.
A significant development during the year was the appointment of Executive Services staff to strengthen the operational capacity of the charity, reflecting in the £10,822 expenditure on Executive Services that was new for 2024.
Wellbeing services continued to be provided to young people, building on the successful programme established in 2023. The charity maintained its comprehensive range of wellbeing activities including Breathwork & Mindfulness, Cooking, Crafts, and Gardening.
In December 2024, a pilot mentoring scheme was launched with a small number of young people from The Cotswold School, with plans to expand this service in future years.
Counselling services remained a core offering of the charity, continuing to provide essential mental health support to young people.
The charity also gained approval as an alternative provision supplier during 2024, demonstrating its expanding capacity to serve young people beyond traditional school settings. Plans are in place to expand the mentoring programme from September 2025 using trained community mentors, reflecting the charity's commitment to scaling successful initiatives.
## **Achievements and Performance**
The trustees are pleased that Headspace has continued to develop its services during 2024 and maintains its strong reputation in the local community. This is evidenced by the continued support from donors and the practical assistance received from local supporters and volunteers.
The charity's safeguarding processes remain robust and fit for purpose, ensuring the protection of all young people accessing services.
It is vital to note that Headspace could not fulfil its remit without the dedication of both its staff and volunteers who generously provide their skills and time. The trustees offer their thanks and appreciation to all staff members and volunteers for their dedicated efforts on behalf of Headspace and the communities it serves.
The relationship with The Cotswold School has continued to strengthen, enabling expanded access to both counselling and wellbeing services for students requiring mental health support.
## **Financial Review**
For the year ended 31 December 2024, the charity's financial results report a deficit of £67,096, which reduced reserves to £94,988. This larger deficit reflects the charity's continued investment in building services and operational capacity.
Total income for the year ended 31 December 2024 was £18,687 (2023 - £26,056). This represents a decrease of £7,369 from the previous year.
The income streams during the year were:
- **Donations of £15,715** (84% of total income) from a wide range of supporters, representing the continued generosity of the local community
- **Grants of £1,750** (9% of total income), significantly lower than the previous year's £6,000
- **Sales of Produce of £40** (0.2% of total income), a new small income stream
- **Bank interest received of £1,182** (6% of total income), increased from £737 in 2023
Total costs for the year amounted to £85,783 (2023 - £50,449). This substantial increase of 70% reflects the charity's investment in expanding services and operational infrastructure.
The major expenditure categories were:
- **£40,623 on wellbeing services** (47% of total costs), nearly doubling from £20,744 in 2023
- **£18,439 on counselling services** (21% of total costs), maintaining a similar level to 2023's £18,455
- **£10,822 on executive services** (13% of total costs), a new category reflecting investment in operational capacity
- **£7,040 for unit running costs** (8% of total costs), increased from £6,092 in 2023
Other notable expenses included training fees (£1,941), advertising and promotion (£2,024), and computer consumables (£1,751), all reflecting the charity's commitment to professional development and outreach.
The financial statements for the period to 31 December 2024 were prepared by independent accountants, Chamberlains (Accountancy and Taxation) Limited and are attached to this Annual Report.
## **Reserves**
The charity has adopted a reserves policy of maintaining six months of operating expenses to ensure financial stability and continuity of services. Based on 2024 expenditure of £85,783, this target reserve level would be approximately £42,892.
As at 31 December 2024, the charity held reserves of £94,988, representing a significant decrease from £162,084 at the end of 2023. While current reserves exceed the policy target, this reduction reflects the planned investment in expanding services and recruiting executive leadership. The trustees continue to monitor the financial position carefully to ensure reserves remain adequate while supporting the charity's development objectives.
The trustees remain committed to utilising available resources effectively to establish sustainable services that support the mental health and wellbeing of young people, while developing income streams to ensure long-term viability within the framework of the reserves policy.
## **Risk Management**
The trustees have assessed the major risks to which the charity is exposed and are satisfied that procedures are in place to mitigate exposure to major risks in relation to safeguarding, other operations, finances and reputation. Given the increased expenditure in 2024, particular attention has been paid to financial sustainability and ensuring appropriate controls are in place.
## **Looking Forward**
The appointment of Paul Heming as CEO in October 2024 represents a pivotal moment for Headspace. His mandate to develop sustainable revenue streams and create a comprehensive 5-year strategic plan in liaison with the Board of Trustees, positions the charity for more structured growth and financial stability in the coming years.
The trustees remain committed to Headspace's mission of supporting young people's mental health and wellbeing. While 2024 saw significant investment in services and leadership infrastructure, this foundation will enable more strategic development of funding sources and service delivery models.
The charity will continue to explore opportunities to expand its reach while ensuring all activities remain aligned with its charitable objects and safeguarding requirements. The focus will be on building long term sustainability while maintaining the quality and impact of services that have established Headspace's strong reputation in the community.
## **Registered Office**
Unit 6, Old Station Yard, Bourton Industrial Estate Bourton on the Water GL54 2RZ
_Date: 8 October 2025_
## HEADSPACE
## ACCOUNTS
(INCORPORATING THE REQUIREMENTS OF THE CHARITY COMMISSION)
## FOR THE YEAR ENDED
31 DECEMBER 2024
CHARITY NUMBER: 1189822
This pap is intentionally left blank
## HEADSPACE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
||Page|
|---|---|
|Accountant's Report|1|
|Balance Sheet|2|
|Income and Expenditure Account|3|
|Notes to the Financial Statements|4|
## FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
## ACCOUNTANT'S REPORT TO
## HEADSPACE
We have prepared the attached Balance Sheet and accompanying Income and Expenditure Account, as accountants, using the information contained within our client's business records for the year ended 31 December 2024,
Chamberlains (Accountancy and Taxation) Limited Ground Floor, 5 The Pavilions Cranmore Drive Shirley Solihull B90 4SB
8 September 2025
CLIENT APPROVAL CERTIFICATE
I have approved these financial statements and authorise them for production to HM Revenue and Customs and the Charity Commission.
Mrs K Pulham
8 September 2025
Page 1
## HEADSPACE
## BALANCE SHEET AS AT 31 DECEMBER 2024
|**FIXED ASSETS**
Equipment
**CURRENT ASSETS**
Debtors and Prepayments
Bank Current Account
Bank Deposit Account
**CURRENT LIABILITIES**
Creditors and Accruals
PAYE and Social Security Costs
**NET ASSETS**
**FINANCED BY**
**UNRESTRICTED FUNDS**
Balance Brought Forward
Net (Deficit)/Surplus for Year
Accumulated Surplus|2024
£
612
2,688
18,293
80,270
101,251
1,830
5,045
6,875
94,988
162,084
(67,096)
94,988|2023
£
597
2,586
56,342
105,270
164,198
680
2,031
2,711
162,084
185,740
(23,656)
162,084|
|---|---|---|
Page 2
## HEADSPACE
## INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024
|**Income**
Donations
Grants
Events
Sales of Produce
**Other Income**
Bank Interest
**Expenditure**
Counselling Services
Wellbeing Services
Executive Services
Materials and Consumables
Unit Running Costs
Computer Consumables
Charity Insurance
Training Fees
Recruitment Fees
Advertising and Promotion
Sundry Expenses
Accountancy Charges
Bank Charges
Depreciation
**Net (Deficit)/Surplus**|2024
£
£
15,715
1,750
-
40
17,505
1,182
18,687
18,439
40,623
10,822
633
7,040
1,751
605
1,941
678
2,024
375
300
97
455
85,783
(67,096)|2023
£
£
18,693
6,000
1,363
-
26,056
737
26,793
18,455
20,744
-
717
6,092
1,593
569
460
-
811
346
150
13
499
50,449
(23,656)|
|---|---|---|
Page 3
## HEADSPACE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
## 1 **BASIS OF PREPARATION**
These ‘Receipts and Payments’ accounts are presented under section 133 of the Charities Act 2011, which states that charities registered in England and Wales that are not companies are allowed to complete Receipts and Payments accounts if their turnover does not exceed £250,000. Also, In accordance with section 25 of the Charity’s constitution, the trustees have kept proper accounting records and the charity is entitled to file receipts and payments accounts if the Trustees choose to do so.
The Trustees confirm that none of the exceptions listed in the Charity Commission’s guidelines apply to the Charity and that receipts and payments accounts are appropriate to the Charity’s circumstances.
|2
**DEBTORS AND PREPAYMENTS**
Amounts due from fundraising activities
Other debtors
Prepayments
3
**CREDITORS AND ACCRUALS**
Amounts due on invoices received
Accruals|2024
£
513
762
1,413
2,688
1,080
750
1,830|2023
£
488
762
1,336
2,586
230
450
680|
|---|---|---|
## 4 **TRUSTEES' REMUNERATION**
Trustees received no expenses, remuneration or benefits in this period.
## 5 **RELATED PARTY TRANSACTIONS**
The Charity does not have any related parties.
Page 4
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's report on the
accounts
Section A
Independent Examinerfs Report
Report to the trusteesl
members of
HEADSPACE
On accounts for the year
ended
31 DECEMBER 2024
Charity no
{If any)
1189822
Sèt out on pages
1T04
I report to the tTUStees on my examination of the accounts of the abov8
charity {Ihe Twst.) for the year ended 31 December 2024.
Responsibllitles and
basls of report
As the ¢hariVs truslees, you are responsible for the preparation of the
accounts in accordance with the r8quirements of the Charities Act 2011
('the Act").
I report in respect of my examination of the Twst's accounts carrfed out
under section 145 of the 2011 Act and in carying out my examination, I
have followed all the applicable Dir8Ctions given by the Charity Commission
under section 14515Xb) of the Act.
Independent I have completed my examination. I confimi that no material matters have
examlner's statement come lo my attention in conn8Ction with th8 examination (other than that
disclosed below ') which gives me cause to believ8 that in, any material
respect..
the accounting records were not kept in accordance with section 130
ofthe Charities A¢t', or
the accounts did not ac(x)rd with the accounting records,. or
the accounts did not comply with the appli¢able requirements
conceming the form and content of accounts set oul in the Charities
(Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fair, view which is not a matter
consid8r8d as part of an independent examination.
I have no concems 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 accounts to be reached.
Please
elete the words in the brackets if they do not apply.
Slgned:
Data:
Name:
PAUL SMITH
Relevant professional
qualificationls) or body
(rf any):
FCCA
CHAMBERLAINS (ACCOUNTANCY & TAXATION) LIMITED
Address:
IER
Oct 2018
GROUND FLOOR. 5 THE PAVILIONS, CRANMORE DRIVE
SHIRLEY. SOLIHULL, B90 4SB
Section
Disclosure
Only complete if the examiner needs lo highlight material matters of concern
{se8 CC32. Independent 8xamination of charity accounts: directions and
guidance for examiners).
Glve here brlef details of
any items that the
examiner wishes to
dlsclosa.
IER
Oct 2018