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 2023
HEADWAY WEST LONDON LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr EH Lassman
Ms LM Li
Miss LJ Murphy
KS Wilkinson
Miss C Beazley
(Appointed 1 January 2023)
Charity number
1160899
Company number
09349513
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
HEADWAY WEST LONDON LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 December 2023.

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 relevant services and also offer our own targeted training to enable them to improve their resilience, health and well -being.

 

We hold a monthly support which is being run by our two part time link workers and volunteers.

 

We have organized regular online training and information and education sessions and interactive social and group activities for our beneficiaries including their carers.

 

We run a targeted health and wellbeing projects in addition to other keep fit and social activities. We run a monthly art group which all encourages our beneficiaries to reconnect with their communities.

 

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 isolationand vulnerability that is usually experienced. If we cannot help, our link workers signpost to other organisations who can.

 

We provide information via our website, newsletters, Facebook, instagram 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.

HEADWAY WEST LONDON LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
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
Mrs CM Cahill
(Resigned 1 January 2023)
Mrs CE Leech
(Resigned 1 January 2023)
Ms LM Li
Miss LJ Murphy
KS Wilkinson
Miss C Beazley
(Appointed 1 January 2023)

The trustees' report was approved by the Board of Trustees.

Miss LJ Murphy
Trustee
Dated: 19 September 2024
HEADWAY WEST LONDON LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF HEADWAY WEST LONDON LIMITED
- 3 -

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 2023.

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: 19 September 2024
HEADWAY WEST LONDON LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
6,420
47,000
53,420
10,009
26,000
36,009
Charitable activities
4
52
-
52
20
-
20
Investments
5
853
-
853
32
-
32
Total income
7,325
47,000
54,325
10,061
26,000
36,061
Expenditure on:
Raising funds
6
660
-
660
660
-
660
Charitable activities
7
11,788
34,922
46,710
10,271
38,884
49,155
Total expenditure
12,448
34,922
47,370
10,931
38,884
49,815
Net income/(expenditure)
(5,123)
12,078
6,955
(870)
(12,884)
(13,754)
Transfers between funds
8,686
(8,686)
-
687
(687)
-
Net movement in funds
3,563
3,392
6,955
(183)
(13,571)
(13,754)
Reconciliation of funds:
Fund balances at 1 January 2023
44,485
25,066
69,551
44,668
38,637
83,305
Fund balances at 31 December 2023
48,048
28,458
76,506
44,485
25,066
69,551

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

HEADWAY WEST LONDON LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 5 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
77,843
72,256
Creditors: amounts falling due within one year
12
(1,337)
(2,705)
Net current assets
76,506
69,551
The funds of the charity
Restricted income funds
14
28,458
25,066
Unrestricted funds
15
48,048
44,485
76,506
69,551

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 2023.

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 19 September 2024
Miss LJ Murphy
Trustee
Company registration number 09349513 (England and Wales)
HEADWAY WEST LONDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
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 amounts 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 or grantors 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.
HEADWAY WEST LONDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 7 -

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 payments 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.

HEADWAY WEST LONDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
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
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Donations and gifts
2,037
-
2,037
8,009
-
8,009
Grants
4,383
47,000
51,383
2,000
26,000
28,000
6,420
47,000
53,420
10,009
26,000
36,009
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Heading #ac989
Sale of goods
52
20
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
853
32
HEADWAY WEST LONDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
6
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Trading costs
Support costs
660
660
7
Expenditure on charitable activities
Heading #ac982
Heading #ac982
2023
2022
£
£
Direct costs
Staff costs
34,922
38,884
Enter ac906 in database
1,460
3,783
Enter ac907 in database
65
35
Enter ac909 in database
311
290
Enter ac911 in database
216
216
Enter ac912 in database
546
503
Enter ac913 in database
-
100
Enter ac914 in database
132
654
Enter ac915 in database
424
400
Enter ac916 in database
3,686
2,276
Enter ac918 in database
277
1,796
Enter ac919 in database
-
190
Other charitable expenditure
4,671
28
46,710
49,155
Analysis by fund
Unrestricted funds
11,788
10,271
Restricted funds
34,922
38,884
46,710
49,155
8
Support costs allocated to activities
2023
2022
£
£
Governance costs
660
660
Analysed between:
Fundraising
660
660
HEADWAY WEST LONDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
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:

2023
2022
Number
Number
3
3
Employment costs
2023
2022
£
£
Wages and salaries
33,345
37,100
Other pension costs
1,577
1,784
34,922
38,884
There were no employees whose annual remuneration was more than £60,000.
11
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12
Creditors: amounts falling due within one year
2023
2022
£
£
Other taxation and social security
116
824
Trade creditors
561
1,221
Accruals and deferred income
660
660
1,337
2,705
13
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
1,577
1,784

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.

HEADWAY WEST LONDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 11 -
14
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January 2023
Incoming resources
Resources expended
Transfers
At 31 December 2023
£
£
£
£
£
25,066
47,000
(34,922)
(8,686)
28,458
Previous year:
At 1 January 2022
Incoming resources
Resources expended
Transfers
At 31 December 2022
£
£
£
£
£
38,637
26,000
(38,884)
(687)
25,066
15
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January 2023
Incoming resources
Resources expended
Transfers
At 31 December 2023
£
£
£
£
£
General funds
44,485
7,325
(12,448)
8,686
48,048
Previous year:
At 1 January 2022
Incoming resources
Resources expended
Transfers
At 31 December 2022
£
£
£
£
£
General funds
44,668
10,061
(10,931)
687
44,485
16
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 December 2023:
Current assets/(liabilities)
48,048
28,458
76,506
48,048
28,458
76,506
HEADWAY WEST LONDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
16
Analysis of net assets between funds
(Continued)
- 12 -
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
£
£
£
At 31 December 2022:
Current assets/(liabilities)
44,485
25,066
69,551
44,485
25,066
69,551
17
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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