2020-09-30-accounts - Wessex Cardiac Trust

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Trustees		Mr R D Hart		Resigned	10.03.20
		Mr G A Longhurst
		Dr AJ Carroll		Resigned	10.03.20
		DrJ M T Pierce
		DrJ R Wilkinson
		Mr N JLapage
		Mr C H Thomson
		Mr G Oliver
		Ms F LCooke
		Miss C M Perdrisat		Resigned	10.03.20
		Mr N SG Scarfe
		Dr T Bharucha		Appointed	10.03.20
Also known as		Wessex Heartbeat
Chief executive officer		MrJT Munro
Charity number		1116510
Company	number	05924962
Registered	office	Heartbeat House
		152-154 Tremona		Road
		Southampton
		Hampshire
		SO166HW
Auditors		Westlake Clark Audit LLP
		Unit 1,West Links
		Tollgate Business		Park
		Chandlers Ford
		Hampshire
		SO53 3TG
Bankers		NatWest Bank Pic
		1 Romsey Road
		Shirley
		Southampton
		Hampshire
		SO164GT
Investment	advisers	Investec Wealth	&	Investment
		Midland House
		2 Poole Road
		Bournemouth
		BH2 5QY
Solicitors		Stillwells Solicitors
		6 Carlton Crescent
		Southampton
		Hampshire
		SO152EY

				Page
Trustees' report including		directors'	report	1-6
Independent auditors'	report			7-9
Statement offinancial	activities			10
Balance sheet
Statement ofcash flows				12
Notes to the accounts				13-22

				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds	2020	2019
			Note	6		6	6
Income and endowments		from:
Donations and legacies				224,475	28,804		253,279	455,799
Other trading activities				135,445	17,743		153,188	231,599
Charitable activities				7,174			7,174	14,584
Investments				13,542			13,542	15,491
Other				38,878			38,878	59,320
Total income				419,514	46,547		466,061	776,793
Expenditure on:
Raising funds
Costs ofgenerating	donation	income		174,225			174,225	110,973
Fundraising trading	costs			135,767			135,767	228,097
Charitable activities				131,301	5,814	12,571	149,686	335,379
Total expenditure				441,293	5,814	12,571	459,678	674,449
Net (losses)l gains	on investments		13	(17,791)			(17,791)	18,548
Net (expenditure)l	income			(39,570)	40,733	(12,571)	(11,408)	120,892
Transfers				47,859	(47,859)
Net movement in funds for		the year		8,289	(7,126)	(12,571)	(11,408)	120,892
Reconciliation offunds
Total funds brought	forward			2,631,145	7,214	77,247	2,715,606	2,594,714
Total funds carried	forward			2,639,434	88	64,676	2,704,198	2,715,606

		2020	2019
	Note	8	8
Fixed assets
Tangible assets	12	1,230,466	1,233,030
Investments	13	504,427	514,033
		1,734,893	1,747,063
Current assets
Stock	14	1,713	1,746
Debtors	15	41,668	46,777
Cash at bank and in hand		963,293	968,043
		1,006,674	1,016,566
Creditors falling due within one year	16	(37,369)	(48,023)
Net curent assets		969,305	968,543
Net assets		2,704,198	2,715,606
The funds ofthe charity:
Endowment funds	19	64,676	77,247
Restricted funds	20	88	7,214
Unrestricted funds	20	2,639,434	2,631,145
Total charity funds		2,704,198	2,715,606

	2020	2019
	6	f
Cash flow from operating activities	3,145	59,630
Cash flow from investing activities
Dividend income and interest from investments	13,542	15,491
Purchase oftangible fixed assets	(13,252)	(4,904)
Purchase ofinvestments	(68,988)	(48,832)
Proceeds from sale ofinvestments	60,803	70,643
Net cash flow from investing activities	(7,895)	32,398
Net (decrease)/ increase in cash	(4,750)	92,028
Cash at the beginning ofthe year	968,043	876,015
Total cash at the end ofthe year	963,293	968,043

Reconcili	ation ofnet (expendi	ture)/ income to net cash flow fr	om operating activities
			2020	2019
			F	8
Net (expenditure)/ income for the year			(11,408)	120,892
Depreciation charges			14,749	13,760
Dividends	and interest from investments		(13,542)	(15,491)
Loss from	disposal offixed assets		1,067
Losses/ (gains) on investments			17,791	(18,548)
Decrease	in stock		33	1,139
Decrease/	(increase) in debtors		5,109	(2,878)
(Decrease) in creditors			(10,654)	(39,244)
Net cash	flow from operating	activities	3,145	59,630

2	Summary analysis	for donated	income	income
				Unrestricted	Restricted	Endowment	Total	Total
				funds 6	funds f	Funds 6	2020 6	2019 6
	Donations and legacies
	Donations and gifts			109,429	28,804		138,233	201,803
	Legacies			115,046			115,046	253,996
				224,475	28,804		253,279	455,799
	Costs ofgenerating	donation	income
	Donation costs			145,927			145,927	86,807
	Support costs (see note 9)			28,298			28,298	24,166
				174,225			174,225	110,973
	Net donations			50,250	28,804		79,054	344,826
3	Summary analysis	for other trading		activities
				Merchandise	Fundraising	Trading	Total	Total
				sales	events	income	2020	2019
				6	8	6	6	f
	Income from other	trading activities		259	147,091	5,838	153,188	231,599
	Fundraising trading costs
	Cost ofgoods			180		2,758	2,938	4,446
	Staging events				117,109		117,109	199,485
	Support costs (see note 9)				15,720		15,720	24,166
				180	132,829	2,758	135,767	228,097
	Net other trading activities			79	14,262	3,080	17,421	3,502

		2020	2019
		6	E
Patient support services		5,525	13,458
Your Healthy	Heart checks	1,649	1,126
		7,174	14,584

Investment inco	me
									2020f	2019 F
Bank interest receivable									719	1,081
Interest from fixed interest securities									3,435	3,177
Dividend income									9,388	11,233
									13,542	15,491
Other income
									2020f	2019 f
Grant income regarding		Covid 19							38,878
Re-imbursement	with regard to the fraud			shown	in	the 2015accounts				59,320
									38,878	59,320
Expenditure on	charitable		activities
				Education			Prevention	Treatment	Total	Total
				and	training			and patient	2020	2019
					f		F	support f	f	f
Direct costs (see	note 8)							69,289	69,289	79,286
Grants to individuals						640			640	401
Grants to institutions					11,931		13,562		25,493	200,727
Governance costs (see note 9)						3,540	7,080	24,780	35,400	34,251
Support costs (see note 9)						6,288	6,288	6,288	18,864	20,714
					22,399		26,930	100,357	149,686	335,379

F129,600	)to restricted funds	and f12,5	71 (2019:f15,961)to e	ndowment funds.
Analysis	ofdirect costs on	charitable	activities
				Patient	Total	Total
				support f	2020	2019 f
Heartbeat	House running costs			24,949	24,949	32,321
Heartbeat	House employment	costs		35,834	35,834	39,218
Heartbeat	House depreciation			5,234	5,234	5,234
Your Healthy Heart checks				3,272	3,272	2,513
				69,289	69,289	79,286

			General	Governance	Total	Total
			support	function	2020	2019
			6	6	8	5
Salaries and related costs			18,716	29,185	47,901	47,391
IT and equipment			14,375		14,375	19,105
Insurance			2,821		2,821	3,009
Training and staff development			360		360	126
General office costs			8,246		8,246	11,337
Depreciation and disposal ofassets			10,582		10,582	8,526
Bank charges			2,279		2,279	3,419
Legal and professional	fees			3,215	3,215	1,836
Accountancy services			26	3,000	3,026	3,506
Consultancy fees			4,760		4,760	4,932
Trustee meeting costs			717		717	110
			62,882	35,400	98,282	103,297
Net incomel (expenditure)		for the year
					2020	2019
This is stated after charging:					6	f
Operating leases - equipment					2,271	3,045
Depreciation					14,749	13,760
Loss on disposal offixed assets					1,068
Auditor's remuneration					3,000	3,480
Accountancy fees					26	26
Legal and professional	fees				3,215	1,836
Analysis ofstaff costs	and	trustee remuneration	and expenses
					2020f	2019 L
Salaries and wages					264,458	265,280
Social security costs					19,823	20,769
Pension costs					3,752	3,109
					288,033	289,158

12	Tangible fixed assets
				Land	and	Computer	Furniture	Total
				buildings		equipment	and fittings	2020
	Cost			8		8	6	8
	At 1 October 2019			1,522,608		88,357	70,351	1,681,316
	Additions					968	12,284	13,252
	Disposals					(28,622)	(3,044)	(31,666)
	At 30September 2020			1,522,608		60,703	79,591	1,662,902
	Depreciation
	At 1 October 2019			303,113		81,145	64,028	448,286
	Charge for the year				7,363	3,593	3,793	14,749
	Eliminated on disposals					(27,878)	(2,721)	(30,599)
	At 30September 2020			310,476		56,860	65,100	432,436
	Net Book Value
	At 30September 2020			1,212,132		3,843	14,491	1,230,466
	At 30 September 2019			1,219,495		7,212	6,323	1,233,030
13	Fixed asset investments
						Listed	Other	Total
						investments	investments	2020
	Market value					6	6	6
	At 1 October 2019					514,031		514,033
	Additions					68,988		68,988
	Disposals					(60,803)		(60,803)
	Revaluations					(17,791)		(17,791)
	At 30September 2020					504,425	2	504,427
	Investments at fair value		comprise:				2020	2019 f
	UK Fixed Interest						99,549	127,380
	Overseas Fixed Interest						43,838	43,197
	UK Equities						49,139	52,681
	European Equitities						14,294	14,281
	North American Equities						36,060	24,364
	Far East 8 Austalasian	Equities					14,366	15,052
	International Equities						76,045	75,335
	UK Property						52,678	56,252
	Emerging Economies						13,131	12,015
	Alternative Assets						67,514	77,131
	Cash held for investment		purposes				37,811	16,343
							504,425	514,031

14	Stock
			2020f	2019 L
	Merchandise		1,713	1,746
15	Debtors
			2020f	2019 6
	Trade debtors Prepayments	and accrued income	700 40,968	4,782 41,995
			41,668	46,777
16	Creditors
			2020	2019
			6	f
	Trade creditors Tax and social security Other creditors and accruals Deferred income		8,291 5,119 10,205 13,754	10,260 6,320 23,247 8,196
			37,369	48,023

				2020
				6
Balance Amount Amount	as at 1 October 2019 released to income earned defened in year	from charitable	activities	8,196 (8,196) 13,754
Balance	as at 30September 2020			13,754

Analysis ofnet assets between	funds
		Unrestricted	Restricted	Endowment	Total
		funds	funds	funds	2020
		6	8	6	F
Fund balances at 30September	2020 are represented	by:
Tangible fixed assets		1,230,466			1,230,466
Investments		504,427			504,427
Current assets		941,910	88	64,676	1,006,674
Creditors		(37,369)			(37,369)
		2,639,434	88	64,676	2,704,198

	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	2019
	6	8	6
Fund balances at 30September 2019are represented	by:
Tangible fixed assets	1,233,030			1,233,030
Investments	514,033			514,033
Current assets	932,105	7,214	77,247	1,016,566
Creditors	(48,023)			(48,023)
	2,631,145	7,214	77247	2 715606


19	Endowment funds
						Balance	Incoming		Resources		Transfers	Balance
						1.10.19 f	resources		expended f		f	30.9.20 f
	The Heartbeat Education		fund			77,247				12,571			64,676
	Endowment funds - previous year
						Balance	Incoming		Resources		Transfers	Balance
						1.10.18 f	resources f		expended f		f	30.9.19 f
	The Heartbeat Education		fund			93,208				15,961			77,247
	This fund is to be used	for providing			education	grants that	meet the objectives			of the charity. The original		capital was
	to be invested, and the interest used				to provide these grants.			However,	due to	very low	interest rates, and	in	order to
	meet the needs of the grant			claims	for education, the Trustees have				agreed	with the original benefactor			that the
	original capital may be	used		in order	to provide grants.
20	Analysis ofcharitable	funds
						Balance	Incoming		Resources		Gains/losses	Balance
						1.10.19 f	resources f		expended f		Transfers f	30.9.20 f
	Unrestricted funds
	General fund					2,631.145		419.514	~447,293		30.D68	2,839,434
	Restricted funds
	MRI fund					42							42
	Heartbeat House fund					3,307		2,507		(5,814)
	Dr Curzen fund					3,526					(3,526)
	GP Liaison fund					293					(293)
	Heart Failure Unit fund					46							46
	3D Printer appeal							44,040			(44,040)
						7,214		46.547	~5,874		~47859, 88
	Analysis ofcharitable	funds		- previous year
					Balance		Incoming		Resources		Gains/ losses	Balance
						1.10.18 f	resources f		expended f		f	30.9.19 f
	Unrestricted funds
	General fund					2,497,645		716.191	~528.888		~53,803	2.631.145
	Restricted funds
	MRI fund					42							42
	Heartbeat House fund							3,307					3,307
	Dr Curzen fund					3,526							3,526
	GP Liaison fund					293							293
	Heart Failure Unit fund							46					46
	3D Printer appeal							57,249	(129,600)		72,351
						3,861		60,6D2	~129,600		72,351		7,214