THE HEADLEY COURT CHARITY The Trustees, Annual Report and Accounts For the Year Ended 31 December 2023 Re8thred Charlty No. 256382
THE HEADLEY COURT CHARrrY TRUSTEES, ANNUAL REPORT AND ACcOUPs FOR THE YEAR ENDING 31 DECEMBER 2023 CHAIRMAN'S INTrODUCTION Having formalfy resolved to c105e the thaiity and following advi from the Charity Commission. Trustees have agreed to supporc through the award of financial grants. a number of amied forces charities whose purposes are comparable with the objects of the Charityi principally rehabilitation, research and wellbeing. Trustees have continued to disperse the assets of the Charity and hope to conclude arrangements for the winding up of the Charity. or Its mer8er with a charity with simllar objects, in 2024. srRUCtURE. GOVERNANCE AND MANAGEMENT The Headley Court Charity was established under a Charity Commission Scheme dated l April 1968 and subsequently amended by a Charity Commission Schemes dated 17 October 21X)O. 11 July 2017 and 29 July 2020 and a resolution pa55ed by the Trustees on 31 July 2019. The Charity is governed and managed by a Board of Trustees. who are supported by their Clerk. The Scheme states that there should be at least three trustees, including an ex-officio trustee who shall be an Air OfficeT from the Royal Air Force appointed by the Chief of the Air Stsff. a person nominated by the Royal Air Force Benevolent Fund. and one or two Co-opted trustees. all of whom see for a period of five years. Following the resignation of Air Marshal Walton in October 2023. the Chief of the Air Staff elected not to appoint a replament given the impending demtse of the charity. All the current trustees have been appointed or re-appointed in the last five years and as the Charity is in the process of winding up no further trustee recruFtment is anticipated. OBJEcrs The objects of the Charity a. 11) The rehabilktstion of servin& reserve and auxiliary members and veterans of the Amed FOrS of the United Kingdom (the beneficiaries). (21 Research into the medical rehabilitation of 5ervin& reserve. and auxiliary members and veterans of the Arn] Forces of the United Klngdom. 131 The relief of hardship of the beneficiaries and their families. OBJECTIVES AND ACTNMES FOR ThE PUBUC BENEFIT The Trustees 8ave careful conslderatlon to the Charlty Comm155ion's general guidance on public benefit when reviewirE the Charitvs aims and objectives and in planning futu activities. In particular. the Trustees considered how any grants they make would contribute to the Charity's aims and objertives. The Trustee< objective for 2023 was to continue the process of closin8 the charity by makin8 8rants to charities with comparable purposes. They achieved this by awardlng the following grant: The Royal Hospital Chelse3 £20.336 Royal Air FO Benevolent Fund £ICKI,CMX)
THE HEADLEY COURT CHARITY TRUSTEES. ANNUAL REPORT AND Accoupifs FOR THE YEAR ENDING 31 DECEMBER 2023 PLANS FOR FUTURE PERIODS The Trustee obiectives for 2024 a". To wind up the charity- or To merge the charity wtth a chartty of comparable purpose: or To continue the charity. possible appointing another charity to art as a corporate trustee FINANaAL REVIEW The Statement of Financial Activltie5 15 set out on page 7 and shows a net defictt of £55,49112022: net surplus of £26,5351- Incorne for the year amounted to £73.772 {2022: £84,283}. Expenditure on haritable activities amounted to £129.26312022= E57,748). RESERVES The Trustee reserves policy is to hold in reseThe sufficient funds to cover the costs of winding up the Charity- STAFFING The Trustees wish to thank the Clerk for her work in 2023.
THE HEADLEY COURT CHARrrY TRUSTEES, ANNUAL REPORT AND AccouKfs FOR THE YEAR ENDING 31 DECEMBER 2023 REFERENCE AND ADMINisfRATIVE INFORMATION Narne: The Headley Court Charity-also known as the Headley Court Trust. Registered Charlty Number. 256382 Prfncipal Addre$5: Clo 16 Westpoint. 49 Putney Hill. London SW15 6RU Trustees Air Vice-marshal A. J. Stables CBE FRAeS {ChaimMnl Mr M. S. Debens Air Commodore P. J. Hughesdon MBE Air Marshal C S. Walton CB QHP (resigned 5 October 2023) aerk: Ms L Kirkland BA (Honsl FRSA Sollcitor&' Charles Russell Speechtys LLP 5 Fleet Place London, EC4M 7RD Bankers: CAF (Charities Aid Foundation) 25 KinE5 Hill Avenue Kings Hill West Malling Kent ME19 4TA Investment Managers: CCLA Senator House 85 Queen Victoria Street London EC4V 4ET Independent examiners: Moore Kingston Smith LLP 6th Floor 9 Appold Street London EC2A 2AP
ThE HEADLEY COURT CHARITY TRUSTEES. ANNUAL REPORT AND Acc¢xJiifs FOR THE YEAR EIIDING 31 DECEMBER 2023 srATEMENT OF TRusfEES' RESPONSIBILMES The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applic3bte law and United KinEdom Accountingstandards Iunited Kingdom General Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the State of affairs of the Charity and of the incoming resources and application of resources of the Charityfor that per*Jd. In preparing these financtal statsments, the Trustees are required to: Select suitable accountlng policies and then apply them con5iStendy" Obserne the methods and principles in the Charities SORP: Make judgements and estimates that are reasonable and prudent- stste whether appllcable UK Accounting Stsndards have been followed. subject to any material departures disclosed and explained Fn the financial statements: Prepare the financial statements on the goirE cOnrn basis unless it is inappropriate to presume that the Charity will continue In busines& The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charrty and enable them to ensure that the financial statements compty wlth the Charities Act 201L They are also responsible for safeguarding the assets of the Charty and hence for tskire reasonable Steps for the prevention and detection of fraud and other Irregularities. Thls report was approved by the Trustees on 16 Juty 2024. Air lfictrmarshal knthony Stables CBE FRAeS IChairman}
ThE HEADLEY COURT CHARrrY INDEPENDENT EXMINER'S REpoKf TO THE TRUSTEES OF HEADLEY COURT CHARITY I report to the trustees on my examination of the accounts of The Headley Court Charity (the Chartyl for the year ended 31 December 2023. Responslbllltles and basis of report As the charity trustees of the Charity you are responsible forthe preparation of the accounts in accordance with the requirements of the Charities Aci 2011 (tthe ACVI. I report in respect of my examination of the Charitys accounts carried out under section 145 of the 2011 Act and in carrwng out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llb) of the Act. Independent examinerfs statement I have completed my examination. I confimi that no material matter5 have come to my attention in connection with the examination givin8 me Cause to believe that in any material respett.. l. accounting records were not kept in respett of the Trust a5 required by section 130 of the Act: or 2. the accounts do not accord with those records" or 3. the accounts do not comply wtth the applicable requirements cOnrnIng the form and content of accounts set out in the Charities {Accounts and Reports) Regulations 2CO8 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. Other than the other matter explained below 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 understandin8 of the accounts to be reached. Other matter-golng concern A5 further explained in the trustees report and note la In the financral statsments, thè Trustees have decided to wind up the charity and are expecting to apply for it to be removed from the Charrty Commission register before the end of 2024. The financial statements have been prepared on a basis other than that of a going concern. Date.. 16 August 2024 6 Floor 9 Appold Street London EC2A 2AP N.- UP Adam Fullerton (FCA DChA) Independent Examiner For and on behalf of Moore ngSton Smith LLP
THE HEADLEY COURT CHARITY TRUSTEES, ANNUAL REpOr AND ACCOUNTS FOR THE YEAR ENDING 31 DECEMBER 2023 Statem¢nt of Financial Acttvltles for year ended 31 December 2023 2022 Income and endowments fronK' Donations 236 339 Legacies 58,824 Interest 73.036 25,120 Totsl Inme 73.772 84,283 Expendlture on charitsble actlvltles 129.263 57.748 Movement Sn furnts (55,491) 26,535 ToLIl funds brought fonvard at l January 2023 1,750.852 1,724.317 Total funds carried forward at 31 December 2023 4 1.695.361 1.750,852
THE HEADLEY COURT CHARITY TRUSTEES. ANNUAL REPORT AND AcCCKIPs FOR THE YEAR ENDING 31 DECEMBER 2023 Balance SIet a5 at 31 Defflber 20Z3 Cash at Bank 1.799.380 1.753,852 CURREKf UABIUTIE5 Grant Credltors Accruals (l.(M)) 14.019} {3.(KL)) NEf CURRENT ASSETS/(LIABILmES1 L695A61 1.750.852 TOTAL NEf ASSErs 1,695.361 1,750.852 Represented bw. GENERAL FUN. 1.695, 1,750.852 L695361 I.75052 Approved by the Tnjstees on 16 JUFY 2024 and s*ned on their behalf by. Air Wice-marshal AJ Stsbles CBE FRAeS Ichaimianl The notes on pages 9 and 10 form an Integral part of these accounts.
THE HEADLEY COURT CHARrrY TRUSTEES, ANNUAL REPORT AND ACC(xIKrs FOR THE YEAR ENDING 31 DECEMBER 2023 I. ACCOUNTING pouaES a) Basis of Accounting.. The financral ststements have been prepared under the historical cost convention as modtfied to indude the rewalu3tion of investments. The statement of accounts has been prepared in accordan with the FinarKial Reporting Stsndard appllcable in the UK and Republic of Ireland IFRS 1021. The financial statements have been prepared in accordance with the Statement of Recommended Practice". Accounting and Reportin8 by Charities preparing their accounts accordance with the Financial Reporting Standard5 applicable in the UK and Republic of Ireland {FRS1021 issued on 16 Jufy 2014 and the Financial ReFJOrting Standard applicable in the United Kingdom and Republrc of Ireland (FR51021 and the Charities Act 2011. The Charity constitutes a public benefit entity as defined by FRSIO2. Goin8 Concern: The Trustees have deaded to wind up the Charity following the sale of the Headley Court estate in May 2019 and distribute all surplus funds to other charities With comparable purposes and therefore the accounts have been prepad on a basi5 other than that of a 80ing concem. No adjustments to the accounts have been required a5 a result of them being prepared on a basis other than that of a going concern. b) Income: Income is recognised when there is entitlement to the funds, the receipt is probable and the amount can be measured reliably. Donatrons are recognised in full in the Statement of Finantial Artivities in the year in which they are recerwdble. Bank interest is accounted for on an accruals basrs. cl Resource5 Expended: Liabilities are Tecognised as resour expended as soon as there is a Eal or constructive obligation committingthe Charttyto the expenditure. All expenditure is accounted for on an accrua15 basis and has been classified under headings that aggregate all costs relate¢J to the category. The following accounting policies are applied to the different categories of expenditure= Costs of charitsble arti¥lty: These relate to charitsble expenditure and the support Costs of the Charity. Charitsble expenditure is recognised when it is incurred. Support tosts are made up of professional fees. administrative and governance costs. Govemance costs are incuried to enSLire good public accountability and IDmpliance with regulatlon and good practice. d) Flnandal instrument&" The chaiity has financial assets and liabilities of a klnd that qualrfy as ba5 financial Instrumen Basic finanoal instruments are initialty recognised at transaction value and subsequently measured at their settlement value. e) Gish and cash equi¥alents: Cash and cash equrvalents include cash in hand, deposits held at call with banks and other short-term liquid investments wtth original maturrties of three months or less. Crltlc81 •rcountlng and areas of judgernents: In the VeW of the trustees in applyin8 the accounting policies adopted. no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financtal year.
THE HEADLEY COURT CHARrrY TRUSTEES, ANNUAL REpoFrr AND AclifS FOR THE YEAR ENDING 31 DECEMBER 2023 2. EXPENDMIRE ON CHARITABLE AcnvmES 2022 Charitèble expenditure Professional fees 120.336 38,115 2.195 14,265 Administratlve expenses Total expendlture 6.732 5.368 129,263 57,748 3. CREDITORS 2023 2022 Other accrua15 Grant creditors 10).(n) Professional fees 3,150 104.019 MOVEMENT OF RESERVE5 2023 2022 Gera1 Fund Balance brought forward Incomin8 Resour5 for the year Out80ing Resourtrs for the year Balan carried forward 1,750,852 1,724,317 73.772 84.283 1129.263) (57,748) 1.750,852 1.695.361 5. TRusfEES' EXPENSES Included in administrative expenses are payments reimbursed to 3 {2022: 21 Trustees during the year which amounted to £1,24812022= £1.2271. 6. RELATED PARTY TRANWTIONS In October 2023. it was agreed that a grant of £ILX),QX) would be awarded to The Royal Air Force Benevolent Fund in recognition of their historic support to the Charity. Air Commodore P.J. Hughesdon had been a member of the Fund's Key Management Personnel but left their employ in June 2023.. he remains the Fund's nominated trustee. £IIXJ.IKKI {2022.' £Nil) was accftd at year end. io