Independent examiner's report on the accounts
Section A Independent Examiner’s Report
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|Report to the trustees|
|BRITISH CARDIAC RESEARCH TRUST|
|On accounts for the year|Charity no|
|ended|31st MARCH 2025|(if any)|1077234|
|Set out on pages|3 to 5|
|I report to the trustees on my examination of the accounts of the above|
|charity (“the Trust”) for the year ended 31/03/2025.|
|Responsibilities and|As the charity's trustees, you are responsible for the preparation of the|
|basis of report|accounts in accordance with the requirements of the Charities Act 2011|
|(“the Act”).|
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I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent [The charity’s gross income exceeded £250,000 and I am qualified to examiner's statement undertake the examination by being a qualified member of [insert name of applicable listed body]]. Delete if not applicable.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
- Please delete the words in the brackets if they do not apply.
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|Signed:|Neil Scott|Date:|3 September 2025|
|Name:|Neil Scott|
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Relevant professional FCA, Fellow of the Institute of Chartered Accountants in England & Wales qualification(s) or body (if
1
Oct 2018
IER
any):
Address: 4 Fairmead Court, 1441 High Road Whetstone London N20 9PF
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
2
Oct 2018
IER
Page 3
British Cardiac Research Trust
Accounts for year ended 31st March 2025
Page 4
British Cardiac Research Trust
Profit & Loss Account - year ended 31st March 2025
| Income Donation Interest received Expenditure Cardiodiabete Journal 35,000.00 Statistician 882.00 Insurance 96.00 Book-keeping 750.00 Depn in yr (P&L) 0.00 Surplus/(Deficit) for period |
89,283.35 3,913.95 93,197.30 36,728.00 56,469.30 |
2024 0 2,533 2,533 0 0 696 2,375 2,511 5,582 (3,049) |
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Page 5
British Cardiac Research Trust
Balance Sheet at 31st March 2025
| Balance Sheet at 31st March 2025 | Balance Sheet at 31st March 2025 | ||
|---|---|---|---|
| Balance Sheet at 31st March 2025 | 2024 | ||
| Current Assets | |||
| Appeal Fund Bank | 10,757.18 | 117,692 | |
| Bank 2 | 1.00 | 1 | |
| Current account | 3,490.05 | 14,935 | |
| Notice account | 174,849.09 | 0 | |
| Prepayment | 40.00 | 40 | |
| 189,137.32 | 132,668 | ||
| Current liabilities | 0.00 | 0.00 | |
| 189,137.32 | 132,668 | ||
| 189,137.32 | 132,668 | ||
| Reserves Reserves b/fwd Surplus/(Deficit) for year |
132,668.02 56,469.30 |
135,717 (3,049) |
|
| 189,137.32 | 132,668 |
These accounts were approved by the trustees and are signed on their behalf by
Dr. James Andrew Swales 1st September 2025
Trustees’ Annual Report for the period
From 1[st] April 2024 Period start date To 31[st] March 2025 Period end date Charity name: British Cardiac Research Trust
Charity registration number: 1077234
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The charity seeks to advance education by commissioning, conducting and publicly disseminating research in the field of cardiac medicine and the treatment of people suffering from cardiac disorders. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
Activities to support the research, and dissemination of information to improve the care of patients with cardiac and diabetic disorders. The trustees have taken due regard to guidance issued by the Charities Commission on public benefit in regard to the Charity’s activities |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | It is confirmed that the trustees have regarded the public benefit guidance. |
Additional information (optional) You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| N/A | ||
| Para 1.38 | ||
| Policy on grant making | ||
| N/A | ||
| Para 1.38 | ||
| Policy on social investment | ||
| including program related | ||
| investment | ||
| N/A | ||
| Para 1.38 | ||
| Contribution made by | ||
| volunteers |
N/A
Other
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | The Trust has supported the work of a journal dedicated to research in Cardiodiabetes. It is in the process of setting up grants to allow for physicians in training to attend cardiac conferences and get training and centres of excellence. |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | N/A |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | N/A |
| Investment performance against objectives |
Para 1.41 | N/A |
| Other | N/A |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | Adequate funds are available for the activities of the trust for many years |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Reserves are held whilst the Trust organises new grant activities for upcoming cardiologists. |
| Amount of reserves held | Para 1.22 | £189,137.32 |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/A |
Additional information (optional) You may choose to include further statements where relevant about: N/A The charity’s principal sources of funds (including Para 1.47 any fundraising) N/A Investment policy and objectives including any Para 1.46 social investment policy adopted N/A A description of the principal Para 1.46 risks facing the charity N/A Other
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Constitution |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Charitable Trust |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Appointed by Board members |
Additional information (optional)
You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | N/A |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | N/A |
| Relationship with any related parties |
Para 1.51 | N/A |
| Other | N/A |
Reference and Administrative details
| Charity name | British Cardiac Research Trust |
|---|---|
| Other name the charity uses | N/A |
| Registered charity number | 1077234 |
| Charity’s principal address | 73, Newman St, London W1T 3EJ |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee(if any) |
|---|---|---|---|---|
| James Swales | Chairman/Board member |
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| Hester Larkin | Board member | |||
| Roger Harrison | Board member | |||
| Karan Bilimoria | Board member | |||
– Corporate trustees names of the directors at the date the report was approved Director name N/A
Name of trustees holding title to property belonging to the charity
| Trustee name | Dates acted if not for whole year | |
|---|---|---|
| N/A | ||
Funds held as custodian trustees on behalf of others
Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
N/A
Other optional information
N/A
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) | Signature(s) |
|---|---|
| Full name(s) | Full name(s)Dr James Andrew Swales |
| Position (eg Secretary, | Chair |
| Chair, etc) | |
| Date1/9/2025 | 1/9/2025 |