## **Hyperlipidaemia Education & Atherosclerosis Research Trust UK** **(A company limited by guarantee)** **Registered number: 02631049 Charity number: 1003904** **Trustees' report and financial statements for the year ended 29 February 2024** **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **----- Start of picture text -----**
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||**Page**| |---|---| |**Reference and administrative details of the charity, its trustees and advisers**|**1**| |**Trustees' report**|**2 - 17**| |**Independent auditors' report**|**18 - 21**| |**Consolidated statement of financial activities**|**22**| |**Consolidated balance sheet**|**23**| |**Charity balance sheet**|**24**| |**Consolidated statement of cash flows**|**25**| |**Notes to the financial statements**|**26- 40**| **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **Reference and administrative details of the charity, its trustees and advisers for the year ended 29 February 2024** ## **Trustees** Dr P H Green, Chairman Mr S D Boley ACA, Trustee Resigned on 05 July 2023 Professor E A Hughes, Trustee Dr D Neely, Trustee Dr A Rees, Trustee Ms J Bennett, Trustee Ms T Kennerley, Trustee Mr B A Dobson, Trustee Mr A J Greaves, Trustee Dr D B N Datta, Trustee Mr T M Dixon, Trustee Mr N R Phipps ACA, Trustee (Treasurer) Ms A Tyler, Trustee Ma H Soran, Trustee Ms N S Kim, Trustee Resigned on 23 May 2023 **Company registered number** 02631049 **Charity registered number** 1003904 ## **Registered office** 7 North Road, Maidenhead, Berkshire, SL6 1PE ## **Company secretary & Chief executive officer** Ms J Payne ## **Independent auditors** Moore Kingston Smith LLP, 6th Floor, 9 Appold Street, London EC2A 2AP 1 Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E Our Ihpact ib 2023-202M V,;:,,,; THE CHOLESTEROL CHARITY P￿￿11( I￿￿rehe55 aba Support +35% •- +35/. 101.010 3.2 people accessed our cholesterol helpline more enquiries to the helpline compared to the previous year people subscribed to our e-news million people accessed the HEART UK website 199.3% 1 .521 11.833 printed materials were distributed to patients with high cholesterol rated our literature at 'lnvaluable or 'very helpful,. printed re50urce5 distributed to children and young people digit31 materi315 were downloaded 63.091 3.OMI.682 1.6 people viewed our video resources on YouTube of you viewed our Facebook posts ofyou viewed our Instagram posts HEART UK website page views Hcaltkcarc frofcssjobals ** *** .1215 NCP s subscribed to our e-news HCPS attended our 36th Annual Medical and Scientific Conference HCPS viewed our educational webinars HCPS who attended our webinars rated their increase in confidence from 2.92 to 4.12 out of 5 in treating their patients for high cholesterol because of attending 198.3%1 18.3/. 130 15/. of HCPS give our booklets to patients during their consultations Impressions on X - our social media platform targeted at HCPS HCPS attendees joined our monthly Lipid Intelligence Network calls of HCPS viewing our Diet & Lipid Network webinars found them useful Follow ug or.. .heart￿￿.0r9.￿kla￿o￿t-￿sIo￿r-Ibr￿(t @ o @ o o Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E Annual report incorporating a Directors, Report and Accounts for the year ended 29 February 2024 OBJEcfs AND AcfiviTIES Introduction HEART UK is the UK'S only charity focussed on cholesterol and lipids, lipids being a medical term meaning 'blood fat,, and whilst there are numerous blood fats, cholesterol is the most common. For this reason, we will refer in this report to just cholesterol, but assume this means all blood fats. In 2002 two charities merged to form HEART UK. The British Hyperlipidaemia Association, a health care professional focused organisation and the Family Heart Association, a patient focused organisation. HEART is an acronym and stands for: Hyperlidaemia Education and Athersclerosis Research Trust. As a result of this merger, HEART UK serves patients, their families and health care professionals, in addition to the general public who may not be aware they have a cholesterol issue. Almost half of UK adults have raised cholesterol. putting them at an increased risk of heart attacks, strokes and vascular dementia. Raised cholesterol is the most common modifiable risk factor for cardiovascular disease and it can affect anyone, even the young and otherwise healthy. Heart and Circulatory diseases cause around a quarter of all deaths in the UK. There are more than 170,000 deaths a year, which equates to 480 each day and one every 3 minutes. More than 7 million people are living with heart and circulatory diseasesin the UK. Inherited cholesterol conditions affect a high number of people across the UK. This means when a child is born and they have an inherited cholesterol condition, they have already had this for 9 months. Children can be at risk and an example of this is around l in 250 people (that equates to over 260,000 people across the UK) have the genetic condition familial hypercholesterolaemia IFH), which leads to high cholesterol and an increased risk of heart disease at a young age and even heart attacks in childhood. Currently, only around Il% of those with FH have been diagnosed. Millions of people with raised cholesterol caused by other factors are similarly unaware of the risk they face. HEART UK is a registered charity and a company limited by guarantee. We a150 have a trading subsidiary, HEART UK Trading Company Limited through which the majority of our corporate activity is conducted. The charity's objects as set our in our constitution are: o relieve those suffering the effects of heart disease and in particular lipid disorders, familial hyperlipidaemias and related conditions, to promote the relief of sickness and the preservation and protection of health by reducing the incidence of vascular disease in the general population of the United Kingdom, to provide counselling and advice to relatives of those diagnosed with inherited heart disease and to promote the study of causes, diagnosis and treatment of lipid disorders and associated metabolic diseases., Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E Aims and objectives HEART UK provides specialist advice and expertise to individuals, families and health care professionals working to improve the services available to those who live with high cholesterol. Our single focus means we have been able to build a highly influential and collaborative model, bringing specific patient experience and scientific information together to create effective patient communications and influence Government and public policy. Our focus is entirely on helping people know and understand their cholesterol levels and take appropriate action. We believe that investing our limited resources on this one intervention is the most impactful way of tackling premature cardiovascular disease, disabilities, illness and avoidable early deaths. We aim to prevent people developing heart disease and dying from avoidable heart attacks, strokes and other conditions that high cholesterol can cause. Volunteers Volunteers form a vital part of HEART UK'S activities. We continue to benefit from a range of volunteers including healthcare professionals serving on our committees who willingly give up their time to enable us be the lead voice on cholesterol and shape the way cholesterol is diagnosed and managed around the UK. We are also very lucky to be supported by our Ambassadors who are the voice of HEART UK in their community; they help raise awareness of the dangers of cholesterol. We also benefit from a lot of support from dedicated fundraisers helping to raise funds for our essential work. The Trustees wish to extend their sincere thanks to all the volunteers who support HEART UK. Public Benefit In reporting on the objectives and achievements of the charity, the Trustees have given due regard to the Charity Commission guidance on public benefit under the Charities Act 2011. HEART UK constitutes a public benefit entity as defined by FRSIO2. Diversity, equality and inclusion We have a Diversity policy in place that is currently undergoing a review and will do so every 3 years. We are committed to ensuring that the values of equality, diversity and respect are embedded into everything we do. Anyone within the UK can access our services. Our Values We operate everything we do within the values of the organisation with professionalism, respect, integrity, empathy and trust. Environment, Social and Govemance We have developed an Environment, Social and Governance {ESG) action plan and are working to those actions. This action plan will form part of a framework, which we are developing. We continue to encourage people with the technology to access our information using their mobile phones. In particular, we provide a large amount of literature to the NHS and other organisations. We introduced a sheet of QR codes that can be used if an individual has a smart phone. Of course, not Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E everyone is in that position so we still provide printed copies as appropriate. It is important to us that anyone wanting to access our services is able to, no matter their background or where they live. The Charity Governance Code We aim to abide by the Charity Governance Code. ACHIEVEMENTS AND PERFORMANCE Background information We work closely with lipidologists. scientists. doctors. nurses, pharmacists. dietitians and other healthcare professionals across the NHS. plus food companies. medicine manufacturers and across government bodies such as NHS England and the Office for Health Improvement and Disparity to ensure patients are provided with the information and support they need to manage cholesterol and live a longer, healthier life. Our main focus is on saving lives via raising awareness with the public, seniice delivery and educating healthcare professionals and the public, patients, and their families. However, we also work to advocate with and on behalf of people with high and inherited cholesterol conditions, effecting crucial change in policy and standards. Our recent engagement with key opinion leaders resulted in many successes over recent years, including: Contributing towards consultations on clinical Euidance, from diagnosis through to treatment, long term management and the role of new medications Providing evidence & updating NICE guidelines and disseminating these to healthcare professionals and advising on guidance documents for healthcare commissioners Publishing our Statements of Care: setting out best practice for treating patients which are used around the UK and the world and improve patient outcomes Our National Cholesterol Month raises awareness of the dangers of cholesterol to millions of people Throughout each year, multiple awareness and influencing campaigns Cholesterol being a priority within the health service Changing the Armed Forces policy from FH labelling people as unfit to serve, to allowing those to enter the Armed Forces and serve their country. Chairing an LPlal Taskforce and launching a Call to Action document with 3 calls to action; l of which is progressing well and the other two are underway. Cholesterol being on the agenda for pharmacies and potential to be included in the pharmacy contract. Cholesterol and FH being included within the NHS Long Term Plan and also we hope the soon to be published Major Conditions Strategy. Both of these are for England. We have been engaging with stakeholders in the devolved nations too. Identifying people at a much younger age, in the case of FH in childhood. Over the next five years we will continue to build on these successes, ensuring that the NHS delivers its targets published in their NHS Long Term Plan for England and continues to prioritise and adequately fund cholesterol related diagnoses and support services. Of course, with a General Election looming either later in 2024 or early 2025 the landscape may be changing. We are engaging with all political parties to ensure heart and circulatory diseases and cholesterol continue to be a focus across the whole of the UK. Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E The team During 2023/24 the incredible HEART UK team continued to work hard to deliver our objectives and support our beneficiaries. We have seen some change in the team, some of which were beyond our control and we took the opportunity to shape things differently. We have also created Head of roles for both Services and Fundraising and developed a Senior Leadership Team. We also employed a Changemaker Programme Manager who will be focusing on planning our Changemaker Programme for launch in 2024. During the year we also developed a new database. which has brought us many efficiencies and there were cost savings over the previous system used. Providing scientifically based, factually accurate information We provide a range of information both on and offline covering each of the conditions we support. All our information is scientifically based and factually accurate. For people who have been identified as at risk of or having an inherited cholesterol condition , information is scarce with primary care, including GPS and pharmacists, potentially unfamiliar with the condition a nd referrals to specialist lipidology consultants can involve very long waiting times. This can be a very anxious time, which is not helped by a plethora of confusing and contradictory information available online. HEART UK addresses this issue by working with GP Surgeries, pharmacists and clinics across the country to offer patients user-friendly, evidence-based and practical information and advice on how to understand and tackle high cholesterol. All our information and advice is produced by our lipid specialist nurse and dietetic advisor and is supported by our Medical, Scientific and Research Committee. This information and advice is regularly updated. The most popular leaflets include 'Understanding Cholesterol, and 'Healthy Eating,, but we also provide information specifically for certain groups, such as children with FH. We have booklets aimed at children of different ages living with FH to help them understand their condition. We aim to ensure that patients who have been diagnosed with high cholesterol have access to quality information to explain and advise them. We monitor the uptake and re-orders of literature by healthcare professionals. We providethe majority of our literature free of charge. We know that our literature provision does increase access to quality information. Enquirers to our Cholesterol Helpline frequently report they received our literature via their GP and are getting in touch as they have further questions- demonstrating both that the need for information exists and that HEART UK'S services are helping to address this need. We also recognise the need to offer digital versions of our literature and in parallel have been looking at ways to reduce print and postage costs without affecting the quality or accessibility of our literature. The HEART UK Cholesterol Helpline Our dedicated Cholesterol Helpline offers information and support over the phone or by email. The helpline responds to a clear need for advice in dealing with newly diagnosed raised cholesterol or concerns about family history of heart disease. Obtaining GP appointments, limited time and information available from GPS. waiting lists for lipid specialists and a profusion of misinformation on the internet all contribute to a situation where people lack accurate information or tailored advice. People who are worried about raised cholesterol. or not sure what to do about their cholesterol Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E levels, often have nowhere to turn to for advice and end up doing nothing- or worse, relying on inaccurate advice and information from the internet which can endanger their health. The HEART UK Cholesterol Helpline is uniquely run by our expertlipid specialist nurse and specialist dietetic advisor, supporting anyone that contacts us to help them manage their cholesterol. In 2023124, 1,463 people accessed our helpline for support, including people newly diagnosed with high cholesterol or a cholesterol condition, to understand their condition and the actions they need to take to ameliorate it. This is an increase of 35Yo on the previous year. The Helpline also supports people diagnosed with, or who are bereaved of someone with an inherited high cholesterol condition These enquiries can be complex and require expert knowledge and professional handling and are often 'time heavy,. Once again. during this year we have also seen an increase in people enquiring about Lipoprotein a {LP(a)). Our Services team of specialists provide the information and advice in our literature, on our website, in our social media posts and take part in conferences and webinars, radio broadcasts and other PR activities designed to raise awareness of the dangers of high cholesterol and the steps individuals can take to manage it. Our Helpline users tell us how important our service is to them and often support our advocacy and fundraising. Healthcare professional support Support for healthcare professionals over 2023124 We provided 247,983 pieces of printed literature to healthcare professionals free of charge to distribute to their patients. This is an increase of 63.3% compared to the previous year. 99.3Yo of those who rated the literature found it invaluable or very helpful. 98.3% of health providers said they give the literature to patients during their consultations. We continued our partnership with the NHS, the Academic Health Science Network (now known as the Health Innovation Network} and the Accelerated Access Collaborative and developed our Primary Care Education Programme through a 'Tackling Cholesterol Together, campaign. This is a hugely successful partnership. Education roadshows have been introduced and we held one in Leeds in July 2023, which was a huge success. We also have scheduled one for Cambridge in March 2024 and Kent in May 2024.. In addition, we facilitated the development of a lipidology podcast and are keen to do more in the coming months. Lipid Intelligence Network Previously known as our FH Intelligence Network, during this year we have widened this out to cover all cholesterol conditions. This provides a source of network support through our regular monthly zoom calls to bring together healthcare professionals dealing with cholesterol conditions. They discuss challenges, share information, best practice, and learn from each other. Lipid Interest Group This is a group of over 159allied health professionals, from FH and apheresis nurses to GP practice nurses, who meet twice a year to network and share information. Once a month they circulate a 'round robin, featuring a recent example of their work. This proves useful to all. Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E Annual scientific conference In 2023 we held a hybrid annual scientific conference. Once again, IOOYO of the attendees said they would be able to apply the learnings in their day-to-day practice to improve patient outcomes. Nutrition Academy Our Nutrition Academy is an online platform aimed at providing information and training to all healthcare professionals who deliver dietary advice to individuals diagnosed with high cholesterol. We have recognised the lack of dietetic support in specialist areas, and the challenges in accessing these services in other areas. This has led to non-dietetically trained staff feeling responsible for advising patients. The purpose is to provide an online centre of excellence to ensure healthcare professionals can provide accurate, evidence-based information to their patients on how to manage their condition to reduce their risk of cardiovascular disease. An advisory panel of experts in the field of nutrition and dietetics helps us steer the programme. we have secured funding to enable us to complete the Nutrition Academy and are in process of working on this for a full launch in 2024. Major Achievements During 2023/24, HEART UK has had much to celebrate with our campaigning. This has been as part of a programme of activities and building on previous year's success. ensuring that cholesterol and inherited cholesterol conditions remain a priority for the NHS and holding the Government and the NHS to account to deliver the targets set in the NHS England Long Term Plan. We established our Integrated Care System (the payers of the health system} network and held 3 meetings throughout the year. This has proved so successful that we are holding these every 2 months during 2024. It is a call to bring system leaders together to share information and best practice and to learn from each other. We have been making significant efforts since 2016 to get FH identified as early as possible. HEART UK is the only charity championing this since it was proven to be so successful in a research study of 10,095 children which was published in 2016. We believe screening children for FH should be a national screening programme. Testing children early will lead to whole family screening. A two- year pilot was established in 7 areas of England with plans to test 30,000 children. However, with the strain on GP practices, it has resulted in less take up than was hoped for in the pilot. This has been reviewed and the pilot is now extended to October 2024, the number of children to be tested was reduced to 10,000 and some tweaks to the process have also been made. We await the results of the pilot. The importance of this being accepted by an organisaiton known as the UK National Screening Committee is that, when successful, the screening will be across the whole of the UK. Genomics England have launched a new pilot research project in England for new born screening and Homozygous FH and Familial chylomicronaemia symdrome IFCS) are included. This will be important in the process with the UK National Screening Committee. However, they are only testing 100,000 babies and these two conditions are so rare there is a risk they will not identify any. We engaged with the team in the planning stages. We understand that if FH is identified, even if it isn't Homozygous FH they will notify the family members, which is an important step. We conducted an audit of lipid clinics across the UK to assess how Lipoprotein lal lan inherited blood fat) is being assessed. We have had two publications as a result. The results demonstrated this is being measured in many places but there is inconcistency with that measurement and work is underway to address this. Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E HEART UK were instrumental in establishing SNOMED codes, which are international codes used within the health system, for LPlal. This will help with coding the condition across the various health systems. We continue to try to have one place for a lifelong register for FH, the system used in England and Wales has the capability to be used for all inherited cholesterol conditions. This will help the health systems across the UK to identify FH in other family members in a systematic way which is both life and cost-saving and in 2021/22 we had commitment from the Chief Executive of the NHS to invest in a new system, sadly that has fallen away. We previously fed into a procurement process and in early 2022 NHS England met with HEART UK'S FH Registry Advisory Group and put forward a proposal for the registry which was accepted as the best solution. Sadly, with all the challenges the NHS have faced, a decision was made in late 2022 not to develop a national lifelong FH registry, but instead to use a national audit called CVDPrevent. which is using data from primary care. There is also a focus on improving the data that is captured in primary care for FH. There is an existing system that houses around 20,000 FH family pedigrees and this is used across half of England. We committed a lot of time during the 2023124 year to help keep this moving in the right direction. NHS England suggested we identify a hospital trust to take the lead. These conversations are on-going and a lot of work is being put into this by many hospital trusts. At 31 March 2024 the system was closed down and we are working to get this changed and back up and running. Whilst this can't be considered a major achievement at this stage, all is not lost at this stage. Our Ambassadors have been actively engaging with their MPS, highlighting the issues and encouraging them to take action. One Ambassador had a huge success through the year with their local NHS agreeing to introduce cascade testing, which wasn't in place. HEART UK contributes to many health consultations carried out by various agencies, including NICE and other similar offices across all countries of the UK. There has been much activity in Scotland this year with HEART UK continuing to contribute to the cross-political party group and also a third sector group to get cholesterol onto the political agenda in Scotland. Our Scottish Ambassador continues to be very active.. There is a lot needed in Scotland and we intend on doing much more in both Scotland and also in Northern Ireland, which is also in a poor state with heart and circulatory disease rates. New services launched Diet is a big focus for the public. We identified a need for people to have a tool to enable them to check how they were doing with their diet. As a result, we launched our Diet check list in 2022/23. We are now developing this further into a Diet Quiz in order to provide even more support for people to be hand held through a change process. Working on the success of our Lipid Intelligence Network regular conference calls and the success of diet webinars held, it became clear there was a need for a similar network to be launched around diet as it is such a huge subject. As a result we launched the HEART UK Diet and Lipids Network in the 2022/23 year, which is a quarterly conference zoom call. This continues to be a huge success with hundreds of healthcare professionals attending to learn from the experts. We launched a chat bot on our website to help with ensuring people find what they need on an information heavy website. 10 Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E We launched the HEART UK Employee Wellbeing programme to help with more people being diagnosed. Awareness raising Cholesterol e-News Subscription to our popular e-news grew to 107,070 subscribers. The e-newsletter includes features on healthier eating, being more active and promoting donor and fundraising activities. National Cholesterol Month We carried out an awareness raising campaign to ensure the public were aware of the dangers of cholesterol, reaching millions of people. The aim was to empower people to know and understand their cholesterol numbers and take appropriate action. PRINCIPLE FUNDING HEART UK'S approach to fundraising is relationship led, via a variety of income streams: Individual giving- regular and single gifts and appeals. in memory and payroll giving and weekly lottery Sporting challenges- including the London Marathon and a wide variety of challenge events Legacies and an annual free Will campaign Corporate partnerships, including food, gyms, clothes recycling, solicitors, diagnostics and pharmaceutical companies Trusts and Foundations Employee Wellbeing Programme on cholesterol HEART UK has a commercial relationship with our food partners whereby a company will apply to use our product approval logo on their products. These applications are assessed by our expert Product Approval Task and Finish Group against a stringent process and very strict criteria. We also have commercial participator relationships with companies with whom we have entered in a partnership. HEART UK does not carry out street collections or house-to-house fundraising, other than sticker drops by one of our clothes recycling partners. HEART UK has a Safeguarding and child/vulnerable adults protection policy which is currently under review.. The Board of Trustees set up a sub group to create and review policies and all other Board members are kept up to date with the changes and are required to familiarise themselves with each policy. The staff are required to familiarise themselves with all of our policies each year and are provided with training. HEART UK is registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice. HEART UK complies with the Charities Act and GDPR regulation. We put the privacy of our supporter data at the heart of evewhing we do. We manage personal data respectfully and responsibly in accordance with our published privacy policy. We have a register of vulnerable people which is regularly reviewed by our Chief Executive. We established a complaints register in 2017118 and have received 232 complaints between 2017118 and 2023/24. These have largely been about clothes recycling and have decreased over those years as we work with our clothes recycling partners to learn from feedback and improve processes. In 2023/24, HEART UK received five complaints, largely relating to Angel of Mercy, our bag drop clothes recycling partner. This is a very low figure for the sector. Nevertheless, as Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E mentioned earlier, we are committed to studying any expression of dissatisfaction and identifying ways to improve. The appropriate team investigate each complaint. Our complaints procedure is publicly available on our website. Without the support of our donors and fundraisers, we would not be able to operate, and we are incredibly grateful for every penny that is donated or raised, helping us to save lives and keep families together. RISK MANAGEMENT The Trustees have assessed the major risks to which HEART UK is exposed and are satisfied that systems are established to mitigate the charit¢s exposure to those risks. These risks are detailed on a risk register, reviewed quarterly by our Finance and Risk Committee and annually by our Board of Trustees. The biggest risks currently featuring on our register are: Cyber fraud. Many charities are experiencing cyber fraud. We consider we have robust procedures in place to best avoid this and have developed a specific cyber fraud policy. Funding. We regularly review the funding situation via quarterly Finance and Risk Committee meetings, plus an addiitonal meeting in between to keep a close look on matters. Reliance on individuals. We are focusing on retaining staff as well as recruiting good people to the team. FINANCIAL REVIEW Income for the year ended 29 February 2024 totalled £1,327,9801£1,305,959 in 2022/231 Expenditure on raising funds was £664,7271£636,347 in 2022/23) and charitable activity spending was £735,527 {£513,997 in 2022/231. Of particular note: The clothes collections remained strong in particular through our partnership with icollectclothes. INVESTMENT POLICY Under the Memorandum and Articles of Association, the charity has the power to invest in any way the Trustees see fit. The policy of the charity is to adopt a low-risk strategy at present. We have one investment which is low risk with no investment in tobacco, alcohol or arms. RESERVES POLICY The reserves policy is set by the Board of Trustees and reviewed annually. We aim to hold free reserves in the range of 6- 9 months, worth of operating expenditure. Our free reserves at the year end totalled £505,334 which is within our 6-9 month guideline and we expect this to be maintained throughout the next 12 months. 12 Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E PLANS FOR THE FUTURE Our vision is to- Prevent early disease and deaths from cholesterol and other blood fat Ilipidl conditions in the UK. We aim: To increase the number of people identified in the UK with inherited lipid conditions from 25,000 to 50,0(X) by 2029. For people to know and understand their cholesterol and other blood fat Ilipidl levels and take appropriate action. We are working to a 10 point strategy plan to 2029: Develop & grow our servi￿5 lo best suit the curTenl and unmet needs of our beneficiaries Educate & empower the public to know & understand their lipid levels & lake appropriate action to improve their health. Educate HCPS lo improve lipid patient outcomes and develop future lipid specialists. Influence the system to identify lipid issues as early as possible and report progress. Influence more lipid testing with open reporting lo demonstrate improvements in patient outcomes. Build & improve engagement wrth those connected with us. Develop the balan￿ of digttal & physical to ensure indusion of all. Increase our reach to raise awareness across the UK. Build a sustainabfe organisation, bringing efficiencies where possible and by growing fundraised income. Mèasure our impact on all the above and put stories behind the numbers lo better demonstrate our impact. During 2024/25 we will: Continue with our Cholesterol Helpline ensuring we provide the best ways for people to get in touch with us. Regularly review our information provided to ensure it is up to date. Continue to review the provision of our literature orders to ensure efficiencies where possible. Build on our education provision for all beneficiaries Continue to build our communication channels to further increase our reach and influence. Publish appropriate expert papers in order to ensure best practice treatment and management of lipid patients. Launch our point of care test evaluation scheme, improving the frequency and quality of cholesterol testing. Launch our grant scheme to encourage early career specialist development Continue to ensure heart and circulatory disease is a key priority for the Government and NHS. Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E The inconsistent reporting on cholesterol levels, needs to be changed and we will be working towards achieving standarised reporting. Incentives are important within the health system. In England there are two new incentives for secondary prevention {post heart attack or stroke and established heart disease), which are important. However, there still needs to be a focus on primary prevention and we will work hard to ensure this is a focus in order to save lives and keep families together. Work in the devolved nations to ensure cholesterol conditions are given priority and an action plan to improve patient outcomes. Continue to lobby for FH to be identified as early as possible; in children and adults. Continue to engage on LP{a) and other inherited forms of lipids. Continue to work to get the LP(a} calls to action adopted and implemented Continue to lobby for data to be captured and published by NHS England and the Office for Health Improvement and Disparity so we know exactly what the picture looks like with cholesterol patients both locally and nationally, this will include improved cholesterol and FH reporting through CVDPrevent. Officially launch our Changemaker Programme bringing Changemakers, patients and care givers and the health system together for local change. Launch our fully functioning diet quiz for the public. patients and healthcare professionals. Further develop our Nutrition Academy Including launching a quarterly dedicated Nutrition Academy enews, focusing on providing evidence-based nutrition information for healthcare professionals STRucfuRE, GOVERNANCE AND MANAGEMENT The charity is governed by a Board of Trustees who are legal members and also directors of the charity for the purposes of the Companies Act. The Board sets the strategic direction of the charity ensuring that the charitable purposes are met. The Board of Trustees delegate the day to day running of the charity to the Chief Executive. HEART UK considers each of the Trustees to be independent in character and judgement; and understands that they have no relationships that are likely to affect, or could appear to affect, their judgements with regard to HEART UK. Declarations of interest are required from new Trustees upon appointment, annually and every meeting of the Board requires that any new interests are declared. No remuneration is provided except for reasonable travel and subsistence costs. These costs totalled £98 during 2023/241£0 in 2022/23). During 2023/24 we had two Trustees resign from the Board of Trustees, Nicole Kim and Steve Boley. There are a number of committees and task and finish groups that serve the Board of Trustees to assist in the delivery of our objectives: Committees Finance and Risk Key areas for this committee are: To be responsible for financial and general business affairs of the charity including- Risk Management Financial Control Management 14 Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E Audit and presenting final accounts to the AGM following Board approval. Reviewing annual accounts prior to Board and then AGM approval. Income, Communications and Seniices Key areas for this committee are: To oversee the seNices we deliver To oversee our communications and channels used To oversee our income generating and fundraising activities The Medical and Scientific Research Committee (MS&RJ Oversees the Annual Conference, the development of research and speciality training programmes, clinical guidelines development and creating and updating our information. The Healthcare Committee Key areas of interest: Provides up-to-date information to health care professionals who care for patients and their families with lipid disorders. They co-organise the Health Care and Patient part of the Annual Conference. Compoigning Advises on public affairs and policy activities to highlight the importance of cholesterol and CVD. Task and finish rou These groups meet when there is a task to be actioned- Lipoprotein Apheresis Key areas of interest: To promulgate guidance for the clinical indication for lipoprotein apheresis. To review and recommend the criteria of efficacy of performance in the UK (Assessment to be based on Registry data jointly formed by HEART UK). To educate society in general about Apheresis as a treatment. FH Registry Advisory Group This group oversees the Governance of the FH Registry. Conference organising This group organises the annual scientific conference usually held in June/July over a 3-day period. Grant A wards This group oversees our grant-giving scheme and reviews applications, although this is currently on hold. Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E Policy Development Operates to develop, oversee and review the policies of the organisation. Product Approval For approved commercial products that bear the HEART UK logo. The group operates within an ethical and scientific policy framework to evaluate products for approval. CVD Collaborative This group meet to drive forward particular campaigns around changing health policy for the NHS and Government. UK National Screening Committee This group drives forward our campaign for the introduction of child-parent screening for FH. Point of care testing This group sets criteria for our evaluation and reviews the information for each device. Changemaker This group oversees the programme and steers the direction of travel. The Simon Broome Steering Committee (secretariat) Is responsible for directing research based on a national cohort of over 3,500 patients with familial hypercholesterolaemia {and severe hypertriglyceridaemia). STAFF A Senior Leadership team, consisting of the Chief Executive, Head of Fundraising and Head of Services, allows for the distribution of organisational responsibility. The Chief Executive has particular responsibility for issues relating to governance and for the financial management of the organisation. HEART UK has 8 permanent members of staff, 5 full time and 3 part time. The Trustees would like to record their appreciation of the efforts of the staff. who have again made an enormous contribution to the successes of HEART UK during the year. PAY AND REMUNERATION The Finance and Risk Committee review the salaries of the staff and advise the Board on any recommended changes. This is dictated by market forces and affordability. We are also extremely aware of the challenge of market forces since the pandemic and we have reviewed our pay scale in the light of this in order to focus on retention and also attracting excellent talent. The remuneration of the Chief Executive is assessed by the Board of Trustees. This includes conducting a 360 degree assessment when appropriate; internally and externally, market forces, performance and affordability. 16 Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E AUDITOR The auditors of the charity and trading company are reviewed by our Board of Trustees and appointed as appropriate at our Annual General Meeting. TRUSTEE APPOINTMENT, INDUCtION AND TRAINING Trustees are appointed in accordance with HEART UK'S constitution, taking into account the benefits of appointing a person who is able, by virtue of their personal or professional qualifications, to make a contribution to the pursuit of the objects or the management of the charity. Trustees consider the skills gap on the Board of Trustees. Trustee vacancies are openly advertised and recruited following an interview and selection process and then proposed and appointed at the AGM. HEART UK undertakes an induction programme for all new trustees, including induction materials relating to its purpose and finances, the powers of trustees and information about the day to day running of the organisation. Key documents are provided, such as the constitution, accounts, minutes of recent meetings and policies. Trustees continue to be supported through ongoing training. SMALL COMPANIES REGIME This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 CONSIDERATION OF GOING CONCERN The company continues to adopt the going concern basis in preparing its financial statements. The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the company's forecasts and projections. As part of the going concern review the trustees prepared a detailed. forward-looking cash flow scenario. based on the most realistic assumptions available at the time. In this scenario the company had adequate resources to continue in operation for at least twelve months from the approval of the financial statements. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also directors of company for the purpose of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law 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 charitable company and the group and of the incoming resources, including the income and expenditure of the charitable group for that period. In preparing these financial statements, the Trustees are required to. select suitable accounting policies and then apply them consistently; make judgments and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements- Docusign Envelope ID.. AB39F3DE-28B14172-8531H465899D4B1 E prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business- and observe the methods and principles in the Charities SORP. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. AUDIT INFORMATION So far as each of the Trustees at the time the Trustees, report is approved is aware: there is no relevant information of which the auditors are unaware; and they have taken all relevant steps they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. AUDITORS A resolution for the appointment of auditors will be put to the forthcoming AGM. THANKS FROM THE CHAIR OF TRUSTEES I would like to extend my personal and sincere thanks to our dedicated and highly committed and capable team at HEART UK, to my Board of Trustees, our Committee members, Ambassadors and volunteers who continue to give their valuable time, commitment and amazing contributions to help HEART UK truly deliver a world class service for our beneficiaries. Authorised by the Trustees on ...13 AuAUSt 2024 . and signed on their behalf by: Dr Peter Green. Chair Svjned by.. PLkY 8CA074E392¢E47E... 18 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Independent Auditors' Report to the trustees of HEART UK** ## **Opinion** We have audited the financial statements of Hyperlipidaemia Education & Atherosclerosis Research Trust UK (the 'company') for the year ended 29 February 2024 which comprise the Consolidated Statement of Financial Activities, the Group and Parent Charitable Company Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 "The Financial Reporting Standard Applicable in the UK and Ireland". In our opinion the financial statements: - give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 29 February 2024 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) ("ISAs (UK)") and applicable law. Our responsibilities under those standards are further described in the auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditors' report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact. We have nothing to report in this regard. 19 ## **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **Independent Auditors' Report to the trustees of HEART UK** ## **Auditors' responsibilities for the audit of the financial statements (continued)** ## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud** The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. Our approach was as follows: - We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council - We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance. - We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. - We inquired of management and those charged with governance as to any known instances of noncompliance or suspected non-compliance with laws and regulations. - Based on this understanding, we designed specific appropriate audit procedures to identify instances of noncompliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the group and parent charitable company’s internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group and parent charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or parent charitable company to cease to continue as a going concern. 20 ## **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Independent Auditors' Report to the trustees of HEART UK** ## **Auditors' responsibilities for the audit of the financial statements (continued)** - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit report. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. ## **Use of this report** This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and, in respect of the consolidated financial statements, to the charity’s trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters which we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company, the charitable company’s members, as a body, and the charity’s trustees, as a body, for our audit work, for this report, or for the opinion we have formed. **Luke Holt (Senior Statutory Auditor)** for and on behalf of Moore Kingston Smith LLP 6th Floor, 9 Appold Street London EC2A 2AP Date: 29 August 2024 21 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Consolidated Statement of Financial Activities (incorporating income and expenditure account) for the year ended 29 February 2024** |**Note**
**Income from:**
Donations, legacies and grants
2
Charitable activities
3
Trading income
4
Other income
5
Investment income
6
**Total income**
**Expenditure on:**
Raising funds:
Fundraising
7
Expenditure from trading
8
Charitable activities
9
**Total expenditure**
**Net (expenditure) / income**
Net gain on investments
15
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds 2024**
**£**
**69,982**
**280,107**
**779,622**
**95,919**
**6,760**
**1,232,390**
**158,378**
**506,349**
**646,431**
**1,311,158**
**(78,768)**
**7,042**
**(71,726)**
**577,060**
**505,334**|**Restricted**
**funds 2024**
**£**
**48,950**
**46,640**
**-**
**-**
**95,590**
**-**
**-**
**89,096**
**89,096**
**6,494**
**-**
**6,494**
**45,528**
**52,022**|**Total funds**
**2024**
**£**
**118,932**
**326,747**
**779,622**
**95,919**
**6,760**
**1,327,980**
**158,378**
**506,349**
**735,527**
**1,400,254**
**(72,274)**
**7,042**
**(65,232)**
**622,588**
**557,356**|_Total funds_
_2023_
_£_
_275,461_
_243,387_
_783,273_
_1,912_
_1,926_
_1,305,959_
_139,267_
_497,080_
_513,997_
_1,150,344_
_155,615_
_339_
155,954
_466,634_
_622,588_| |---|---|---|---|---| The notes on pages 26 to 40 form part of these financial statements. All amounts are derived from continuing activities. All gains and losses recognised in the year are included above. 22 ## **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Consolidated Balance Sheet as at 29 February 2024** ||||**2024**||_2023_| |---|---|---|---|---|---| ||**Note**|**£**|**£**|_£_|_£_| |**Fixed assets**|||||| |Intangible assets|13||**1,536**||_10,508_| |Tangible assets|14||**14,575**||_942_| |Investments|15||**65,282**||_58,240_| ||||**81,393**||_69,690_| |**Current assets**|||||| |**Debtors:**Amounts receivable
within one year|16|**245,488**||_159,067_|| |Cash at bank and in hand||**664,372**||_724,906_|| |||**909,860**||_883,973_|| |**Debtors:**Amounts receivable
after one year||**-**|**-**|7,400|7,400| |**Creditors:**amounts falling due|||||| |within one year|17
**(433,897)**|**(433,897)**|(338,475)|(338,475)|| |**Net current assets**|||**475,963**||_545,498_| |**Net assets**|||**557,356**||_622,588_| |**Charity Funds**|||||| |Restricted funds|18||**52,022**|_45,528_|_45,528_| |Unrestricted funds|18||**505,334**||_577,060_| |**Total funds**|||**557,356**||_622,588_| As permitted by s408 Companies Act 2006, the company has not presented its own income and expenditure statement and related notes. The company's deficit for the year was £65,229 (2023 surplus £155,954). The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 13 August 2024 The financial statements were approved and authorised for issue by the trustees on ….............. and signed on their behalf, by: **Mr P Green, Chairman** 8CA074E392CE47E.. **Mr N R Phipps ACA, Trustee** 3D4BC56D72BC4B7... The notes on pages 26 to 40 form part of these financial statements. Registered company number: 02631049 23 ## **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Charity balance sheet as at 29 February 2024** |**Note**
**Fixed assets**
Intangible assets
13
Tangible assets
14
Investments
15|**£**|**2024**
**£**
**1,536**
**14,575**
**65,284**|_£_|_2023_
_£_
_10,508_
_942_
_58,242_| |---|---|---|---|---| |**Current assets**
Debtors
16
Cash at bank and in hand|**33,772**
**618,721**|**81,395**|_231,600_
_367,047_|_69,692_| |**Debtors:**Amounts receivable
after one year
**Creditors:**amounts falling due
within one year
17
**(176,532)**|**652,493**
**(176,532)**|**-**
(53,151)|_598,647_
(53,151)|_7,400_| |**Net current assets**||**475,961**||_545,496_| |**Net assets**||**557,356**||_622,588_| |**Charity Funds**
Restricted funds
18
Unrestricted funds
18|**52,022**|**52,022**
**505,334**||45,528
_577,060_| |**Total funds**||**557,356**||_622,588_| The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 13 August 2024 The financial statements were approved and authorised for issue by the trustees on …......................... and signed on their behalf, by: |**Mr P Green, Chairman**
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=| |---|---| The notes on pages 26 to 40 form part of these financial statements. Registered company number: 02631049 24 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Consolidated Statement of Cash Flows for the year ended 29 February 2024** **----- Start of picture text -----**
||||| |---|---|---|---| |2024|2023| |Note|£|£| |Cash flows from operating activities| |Net cash (used in)/provided by operating| |20|(49,277)|230,157| |activities| |Cash flows from investing activities:| |Purchase of intangible fixed assets|13|-|-| |Purchase of tangible fixed assets|14|(18,017)|(858)| |Purchase of listed investments|15|-|-| |Disposal of listed investments|15|-|-| |Investment income|6,760| |Net cash used in investing activities|(11,257)|(858)| |Change in cash and cash equivalents in|(60,534)|229,299| |the year| |Cash and cash equivalents brought forward|724,906|495,607| |Cash and cash equivalents carried| |21|664,372|724,906| |forward| **----- End of picture text -----**
The notes on pages 26 to 40 form part of these financial statements. ## **Analysis of consolidated net resources** **----- Start of picture text -----**
||||| |---|---|---|---| |At 29| |At 1 March|February| |2023|Cash flow|2024| |£|£|£| |Cash at bank and in hand|724,906|(60,534)|664,372| **----- End of picture text -----**
25 # **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **Notes to the financial statements for the year ended 29 February 2024** ## **1. Accounting policies** ## **1.1 Basis of preparation of financial statements** The financial statements have been prepared under the historical cost convention as modified by the revaluation of investments to market value and in compliance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard 102 including Update Bulletin 2, "The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" ("FRS 102") and the Charities Act 2011. Hyperlipidaemia Education & Atherosclerosis Research Trust UK (HEART UK) is a company limited by guarantee and a registered charity and incorporated in England and Wales. HEART UK meets the definition of a public benefit entity under FRS 102. The financial statements are prepared in sterling which is the functional currency of the Group. Monetary amounts in these financial statements are rounded to the nearest pound. The Statement of financial activities (SOFA) and Balance sheet consolidate the financial statements of the charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis and the detailed results are disclosed in note 24 of the financial statements. ## **1.2 Going concern** The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the company's forecasts and projections and have taken account of the ongoing cost of living crisis. The company had adequate resources to continue in operation for at least twelve months from the approval of the financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements. ## **1.3 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Those funds which are not restricted income funds, are unrestricted income funds which are sub analysed between designated funds, where trustees have set aside amounts to be used for specific purposes or which reflect the non-binding wishes of donors; and unrestricted funds, which are used at the trustees' discretion in furtherance of the general objectives of HEART UK. 26 # **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **Notes to the financial statements for the year ended 29 February 2024** ## **1. Accounting policies (continued)** ## **1.4 Income** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. Donated services are valued at the amount HEART UK would be prepared to pay for a similar service. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Trading income represents turnover in the trading subsidiary which consists of conference sponsorships, delegate income, product licence fees and other services and are accounted net of any discounts and exclusive of value added tax. ## **1.5 Expenditure** 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 allocated on the portion of the asset’s use. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities are costs incurred on the charity's educational operations, including support costs apportioned to charitable activities. ## **1.6 Operating leases** Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the SOFA on a straight line basis over the period of the lease. Incentives received to enter into operating leases are credited to the SOFA to reduce the lease expense, on a straight line basis over the period of the lease. 27 # **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **Notes to the financial statements for the year ended 29 February 2024** ## **1. Accounting policies (continued)** ## **1.7 Employee benefits** The charity operates a defined contribution pension and death in service scheme. The pension charge represents the amounts payable by the charity to the fund in respect of the year. ## **1.8 Intangible fixed assets and amortisation** Intangible assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment. Intangible assets are capitlised where the purchase price exceeds £500. Amortisation is provided on intangible fixed assets at rates calculated to write off the cost of each asset, less their estimated residual value, over their expected useful lives on the following bases: Website development - 20% straight line ## **1.9 Tangible fixed assets and depreciation** Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Tangible assets are capitlised where the purchase price exceeds £500. - Office equipment 15% straight line - Computer equipment 33% straight line ## **1.10 Fixed asset investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Net gains/(losses) on investments’ in the Statement of financial activities. The investment in subsidiary is value at cost. ## **1.11 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. ## **1.12 Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 28 # **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **Notes to the financial statements for the year ended 29 February 2024** ## **1. Accounting policies (continued)** ## **1.13 Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **1.14 Critical accounting judgements and estimation uncertainty** Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant accounting judgements and estimates include: Legacy accrued income Depreciation and amortisation rates CVD Accrued income ## **a. Useful economic lives of tangible and intangible assets** The annual depreciation and amortisation charge for fixed assets is sensitive to changes in the estimated useful economic lives of the assets. The useful economic lives are re-assessed annually. These are amended where necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See notes 13 and 14 for the carrying value of assets and note 1.7 and 1.8 for the useful economic lives. 29 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **Notes to the financial statements for the year ended 29 February 2024** ## **2 Income from donations, legacies and grants** |Donations
Legacies
Gift aid
Grants
Total donations and
legacies
_Total 2023_|**Unrestricted**
**funds**
**2024**
**£**
**42,454**
**12,541**
**14,987**
**-**
**69,982**
_240,481_|**Restricted**
**funds**
**2024**
**£**
**48,950**
**-**
**-**
**-**
**48,950**
_34,980_|**Total funds**
**2024**
**£**
**91,404**
**12,541**
**14,987**
**-**
**118,932**
_275,461_|_Total funds_
_2023_
_£_
_171,007_
_23,411_
_15,663_
_65,380_
_275,461_| |---|---|---|---|---| The estimated value of legacies notified but neither received nor accrued income (as they do not meet the Sorp recognition criteria) as at 29 February 2024 is £ (2023: £14,000). Notification of one further material legacy which cannot be . ## **3 Charitable activities** |Fundraising
_Total 2023_
**4 Trading income**
Income from trading subsidiary|**Unrestricted**
**funds**
**2024**
**£**
**280,107**
**280,107**
_243,387_
**Unrestricted**
**funds**
**2024**
**£**
**779,622**|**Restricted**
**funds**
**2024**
**£**
**46,640**
**_46,640_**
_-_
**Restricted**
**funds**
**2024**
**£**
**-**|**Total funds**
**2024**
**£**
**326,747**
**326,747**
_243,387_
**Total funds**
**2024**
**£**
**779,622**|_Total funds_
_2023_
_£_
_243,387_
_243,387_
_Total funds_
_2023_
_£_
_783,273_| |---|---|---|---|---| Please see note 24 for details of the trading subsidiary income. 30 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **Notes to the financial statements for the year ended 29 February 2024** ## **5 Other income** |Other income
_Total 2023_|**Unrestricted**
**funds**
**2024**
**£**
**95,919**
_1,912_|**Restricted**
**funds**
**2024**
**£**
**-**
**-**|**Total funds**
_Total funds_
**2024**
_2023_
**_£_**
_£_
**95,919**
_1,912_
_1,912_| |---|---|---|---| ## **6 Investment income** |**7**|Dividend received
Interest received
_Total 2023_
**Raising funds**|**Unrestricted**
**funds**
**2024**
**£**
**-**
**6,760**
**6,760**
_1,926_
**Unrestricted**
**funds**
**2024**
**£**|**Restricted**
**funds**
**2024**
**£**
**-**
**-**
**-**
_-_
**Restricted**
**funds**
**2024**
**£**|**Total funds**
**2024**
**_£_**
**-**
**6,760**
**6,760**
_1,926_
**Total funds**
**2024**
**_£_**|_Total funds_
_2023_
_£_

**-**
_1,926_
_1,926_
_Total funds_
_2023_
_£_| |---|---|---|---|---|---| ||Staff costs
Other fundraising costs|**119,629**
**38,749**|**-**
**-**|**119,629**
**38,749**|_95,819_
_43,448_| ||Total
_Total 2023_|**158,378**
_139,267_|**-**
_-_|**158,378**
_139,267_|_139,267_| 31 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 29 February 2024** |**8**
**Trading costs**
**Unrestricted**
**funds**
**2024**
**£**
Direct costs
**423,161**
Administrative
**83,188**
_Total_
**506,349**
**9**
**Charitable activities**
**Unrestricted**
**funds**
**2024**
**£**
**620,541**
Governance costs
(note 10)
**25,890**
**646,431**
**10 Governance costs**
**Unrestricted**
**funds**
**2024**
**£**
Audit and
accountancy fees
**25,890**
**11 Net movement in funds**
This is stated after charging:
Depreciation of tangible fixed assets:
Amortisation of intangible fixed assets
Auditor's remuneration - audit
Auditor's remuneration - non audit services
Awareness, education and patient
support|**Restricted**
**funds**
**2024**
**£**
**-**
**-**
**-**
**Restricted**
**funds**
**2024**
**£**
**89,096**
**-**
**89,096**
**Restricted**
**funds**
**2024**
**£**
**-**|**Total funds**
**2024**
**_£_**
**423,161**
**83,188**
**506,349**
**Total funds**
**2024**
**_£_**
**709,637**
**25,890**
**735,527**
**Total funds**
**2024**
**_£_**
**25,890**
**2024**
**£**
**4,384**
**8,972**
**15,050**
**4,890**|_Total funds_
_2023_
_£_
_420,218_
_76,862_
_497,080_
_Total funds_
2023
_£_
_486,160_
27,837
_513,997_
_Total funds_
_2023_
_£_
_27,837_
_2023_
_£_
_384_
_11,580_
_14,395_
4,595| |---|---|---|---| 32 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 29 February 2024** ## **12 Staff costs** |Wages and salaries
Social security costs
Other pension costs|**2024**
**_£_**
**348,093**
**31,336**
**17,518**
**396,947**|_2023_
_£_
_228,042_
_20,633_
_12,845_
_261,520_| |---|---|---| The average number of employees during the year was 8 (2023: 6) The average number of full-time equivalent employees (including casual and part time staff) during the year was made up as follows: |**2024**
**No.**
Charitable operations
**3.0**
**3.7**
**6.7**
The number of employees whose remuneration exceed £60,000, is shown below:
**2024**
**No.**
£70,000 to £79,999
_-_
£80,000 to £89,999
**_1_**
Management and central services|_2023_
_No._
_2.3_
_2.4_
_4.7_
_2023_
_No._
_1_
_-_| |---|---| Key management personnel consists of the leadership management team and consists of 4 (2023: 4) individuals. Total remuneration to key management personnel totalled £ 261,802 in the year (2023: £158,806). During the year total travel expenses of £98 (2023: nil) were reimbursed to 1 (2023: nil) Trustees. During the year 3 trustees (2023: 3) donated a total of £313 (2023:£172). ## **13 Intangible fixed assets** |**Group and Charity**
**Cost**
At 1 March 2023
Additions
At 28 February 2024
**Amortisation**
At 1 March 2023
Charge for the year
Eliminated on disposals
At 28 February 2024
**Carrying amount**
At 28 February 2024
At 29 February 2023|**_£_**
57,893
-
**57,893**
47,385
8,972
-
**56,357**
**1,536**
_10,508_
**Website**
**development**| |---|---| 33 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 29 February 2024** ## **14 Tangible fixed assets** |**Group and Charity**
**Cost**
At 1 March 2023
Additions
At 28 February 2024
**Depreciation**
At 1 March 2023
Charge for the year
Eliminated on disposal
At 28 February 2024
**Carrying amount**
At 28 February 2024
At 29 February 2023
**15**
**Fixed asset investments**|**_£_**
**_£_**
25,026
405
18,017
-
**43,043**
**405**
24,084
405
4,384
-
**28,468**
**405**
**14,575**
**-**
_942_
_-_
**Office**
**equipment**
**Computer**
**equipment**|**Total**
**_£_**
**25,431**
**18,017**
**43,448**
**24,489**
**4,384**
**-**
**28,873**
**14,575**
_942_| |---|---|---| **----- Start of picture text -----**
Group Charity
2024 2023 2024 2023
£ £ £ £
Investments at market value 65,282 58,240 65,282 58,240
Investment in subsidiary at cost - - 2 2
65,282 58,240 65,284 58,242
2024 2023
£ £
Market value
At 1 March 2023 58,240 57,901
Additions - -
Disposals - -
Net gains/( losses) 7,042 339
At 28 February 2024 65,282 58,240
Historical cost of listed investments 50,000 50,000
**----- End of picture text -----**
34 ## **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 29 February 2024** ## **15 Fixed asset investments (continued)** ## **Significant investment holdings based on market value at 29 February 2024 were:** |COIF Charities Investment Fund
**16 Debtors**
**2024**
**£**
Trade debtors
**180,646**
**-**
Other debtors
**-**
**64,842**
**Amounts due over 1 year**
Prepayments and accrued income
**-**
**245,488**
**17 Creditors: Amounts falling due within one year**
**2024**
**£**
Trade creditors
**84,843**
**-**
Other taxation and social security
**34,409**
Other creditors
**4,635**
Accruals and deferred income
**310,010**
**433,897**
Prepayments and accrued income
Amounts owed by group undertakings
Amounts owed to group undertakings|**Group**
_2023_
_£_
_108,156_
_-_
_1,089_
_49,822_
_7,400_
166,467
**Group**
_2023_
_£_
_91,566_
_-_
_31,496_
_3,199_
_212,214_
_338,475_|50,000
**50,000**
**2024**
**£**
**-**
**-**
**-**
**33,772**
**-**
**33,772**
**2024**
**_£_**
**66,207**
**64,396**
**10,858**
**4,635**
**30,436**
**176,532**
**Historical costs**
**(£)**|65,282
**65,282**
**Charity**
_2023_
_£_
_3,900_
_197,516_
_1,089_
_29,095_
_7,400_
239,000
**Charity**
_2023_
_£_
_19,734_
_-_
_7,166_
_3,199_
_23,052_
_53,151_
**Market**
**value (£)**| |---|---|---|---| Deferred income in the charity relates to income to support for future events and are included in creditors at the period end. Deferred income on a group basis includes sponsorship and licence income earned in the subsequent financial year. |**Group deferred income**
Deferred income 2024
_Deferred income 2023_|**Brought**
**forward**
**£**
169,792
_172,317_|**Amount**
**added**
**£**
238,157
_169,792_|**Amount**
**released**
**£**
(169,792)
_(172,317)_|**Carried**
**forward**
**£**
238,157
_169,792_| |---|---|---|---|---| 35 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 29 February 2024** ## **18 Statement of funds** |**a. Group**
**General funds**
General funds - all funds
Total unrestricted funds
**Restricted funds**
Nutrition Academy
Other Restricted funds
Total Restricted funds
Total of funds
**a. Charity**
**General funds**
General funds - all funds
Total unrestricted funds
**Restricted funds**
Nutrition Academy|**Balance at 1**
**March 2023**
**£**
**577,060**
**577,060**
-
**45,528**
**45,528**
**622,588**
**Balance at 1**
**March 2023**
**£**
**577,060**
**577,060**
-|**Income**
**_£_**
**1,232,390**
**1,232,390**
**46,640**
**48,950**
**95,590**
**1,327,980**
**Income**
**_£_**
**726,041**
**726,041**
**46,640**|**Expenditure**
**_£_**
**(1,311,158)**
**(1,311,158)**
**(16,895)**
**(72,201)**
**(89,096)**
**(1,400,254)**
**Expenditure**
**_£_**
**(804,806)**
**(804,806)**
**(16,895)**|**Net gains**
**and**
**transfers**
**_£_**
**7,042**
**7,042**
**-**
**-**
**-**
**7,042**
**Net gains**
**and**
**transfers**
**_£_**
**7,042**
**7,042**
**-**|**Balance at**
**29 February**
**2024**
**£**
**505,334**
**505,334**

**29,745**

**22,277**

**52,022**
**557,356**
**Balance at**
**29 February**
**2024**
**£**
**505,334**
**505,334**

**29,745**| |---|---|---|---|---|---| |Other Restricted funds|**45,528**|**48,950**|**(72,201)**|**-**|
**22,277**| |Total Restricted funds
Total of funds|**45,528**
**622,588**|**95,590**
**821,631**|**(89,096)**
**(893,902)**|**-**
**7,042**|
**52,022**
**557,356**| ## **Restricted funds** i) Nutrition Academy – develop the Heart UK Nutrition Academy from July 2023 to June 2024 – an evidencebased, on-line, educational resource for healthcare professionals providing dietary advice for lipid management in both primary and secondary prevention. This resource is tailored for a wide range of healthcare professionals and provides a one-stop resource on all matters relating to the dietary management of lipids. It aims to be the leading centre of excellence for diet and lipids in the UK and the goal is to increase the knowledge and expertise of healthcare professionals so they can provide the best possible dietary advice to patients, ultimately leading to improved patient outcomes. 36 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **Notes to the financial statements for the year ended 29 February 2024** ## **19 Analysis of net assets between funds** |**Group**
Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Charity**
Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year|**Unrestricted**
**funds**
**2024**
**£**
**1,536**
**14,575**
**65,282**
**887,583**
**(433,897)**
**535,079**
**Unrestricted**
**funds**
**2024**
**£**
**1,536**
**14,575**
**65,284**
**630,216**
**(176,532)**
**535,079**|**Restricted funds**
**2024**
**£**
**-**
**-**
**-**
**22,277**
**-**
**22,277**
**Restricted funds**
**2024**
**£**
**-**
**-**
**-**
**22,277**
**-**
**22,277**|**Total**
**funds**
**2024**
**_£_**

**1,536**

**14,575**

**65,282**
**909,860**
**(433,897)**
**557,356**
**Total funds**
**2024**
**£**

**1,536**

**14,575**

**65,284**
**652,493**
**(176,532)**
**557,356**| |---|---|---|---| ## **20 Reconciliation of net movement in funds to net cash flow from operating activities** **----- Start of picture text -----**
Group
2024 2023
£ £
**----- End of picture text -----**
|**Adjustment for:**
Depreciation charges
Amortisation charges
Net (gains)/losses
Investment Income
Increase in debtors
**Net cash (used in)/provide by operating activities**
increase in creditors
Net (deficit)/income for the year (as per Statement of Financial Activitie|**(65,232)**
**4,384**
**8,972**
**(7,042)**
**(6,760)**
**(79,021)**
**95,422**
**(49,277)**|_155,954_
_384_
_11,580_
_(339)_
_-_
_(5,492)_
_68,070_
_230,157_| |---|---|---| 37 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 29 February 2024** ## **21 Analysis of cash and cash equivalents** |**21 Analysis of cash and cash equivalents**||| |---|---|---| ||**2024**|**Group**
_2023_| ||**£**|_£_| |Total
Cash in hand|**664,372**
**664,372**|_724,906_
_724,906_| ## **22 Pension commitments** The group operates a defined contributions pension scheme. The pension cost charge in the year represents contributions payable by the group and amounted to £18,731 (2023: £12,557). ## **22 Operating lease commitments** At 28 February 2024 the total future minimum lease payments under non-cancellable operating leases **----- Start of picture text -----**
2024 2023
Group and Charity £ £
Within 1 year 603 8,415
Between 1 and 5 years - 603
Total 603 9,018
**----- End of picture text -----**
38 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **Notes to the financial statements for the year ended 29 February 2024** ## **23 Related party transactions** Some of the trustees hold positions within organisations with which HEART UK has links. Some of those organisations may make donations to, or seek product approval licenses from the charity or its trading subsidiary. The charity has a conflict of interest policy in place to ensure that potential conflicts are identified and dealt with appropriately. For the current and preceding year all transactions with these related parties are considered within the scope of normal transactions. An income distribution was made from HEART UK Trading Company Limited, a wholly owned subsidiary, to HEART UK of £273,273 (2023: £286,192) being a distribution of 100% of their net profit in the year. At the year end an amount of £64,396 (2023 : £197,516) was owed to the subsidiary. ## **24 Principal subsidiary** HEART UK has one wholly owned subsidiary, HEART UK Trading Company Limited, which acts as the trading subsidiary of the group and has been included in this set of consolidated financial statements. The company has entered into a deed of covenant to donate its distributable profits to HEART UK. The registered office of the subsidiary is 7 North Road, Maidenhead, Berkshire, SL6 1PE and its company number is 03679100. A summary of its trading results are shown below. A set of audited financial statements for this subsidiary are filed annually with the Registrar of Companies. ## **HEART UK Trading Company Limited results** |**Profit and loss**
**Turnover**
**Cost of Sales**
**Administrative Expenses**
**Operating profit**
**Reconciliation of profit and loss reserves**
**Brought forward**
**Operating profit**
**Distribution to HEART UK**
**Carried forward**|**2024**
**£**
**779,622**
**(423,161)**
**(83,188)**
**273,273**
**-**
**273,273**
**(273,273)**
**-**|_2023_
_£_
_783,273_
(420,218)
(76,862)
_286,193_

_-_
_286,193_
**(286,193)**
-| |---|---|---| No charge to taxation will arise as the subsidiary company has entered into a deed of covenant to donate its distributable profits to its charitable parent HEART UK. 39 **Hyperlipidaemia Education & Atherosclerosis Research Trust UK (trading as HEART UK) (A company limited by guarantee)** **Notes to the financial statements for the year ended 29 February 2024** ## **24 Principal subsidiary (continued)** **----- Start of picture text -----**
Balance Sheet: 2024 2023
£ £ £ £
Current assets
Debtors 276,112 124,983
Cash at bank and in hand 45,651 357,860
321,763 482,843
Creditors: amounts falling due
within one year (321,761) (482,841)
Net current assets 2 2
Capital and reserves
Called up share capital 2 2
Total Equity 2 2
**----- End of picture text -----**
The share capital represents 2 Ordinary shares of £1 each held by HEART UK. ## **25 Limited liability** HEART UK is a company limited by guarantee and as such does not have share capital. In the event of winding up the liability of each member is limited to £1. 40