## **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:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- 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)**|
|---|---|---|---|
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|
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**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|||
||Hester Larkin|Board member|||
||Roger Harrison|Board member|||
||Karan Bilimoria|Board member|||
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– 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|||
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## **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)**||
|||
|**Date**1/9/2025|1/9/2025|