2022-09-30-accounts - Wessex Cardiac Trust

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Trustees		Mr G A Longhurst
		DrJ M TPierce
		DrJ R Wilkinson
		Mr N J Lapage
		Mr C H Thomson	Resigned	20/1/22
		Mr G Oliver
		Mr N SG Scarfe
		Dr T Bharucha
		Mr Bill Blain
		Ms P lannotti
		Mr JP Evangelista
		Mr P M Haydock
		Mr C Morris	Appointed	20/1/22
Also known as		Wessex Heartbeat
Chief executive officer		MrJT Munro
Charity number		1116510
Company	number	05924982
Registered	office	Heartbeat House
		152-154Tremona 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 Rornsey 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	2022	2021
				Note
Income and endowments		from:
Donations and legacies					152,712	30,902		183,614	233,314
Other trading activities					196,017	6,824		202,841	145,424
Charitable activities					3,446			3,446	1,175
Investments					14,113			14,113	11,017
Other					7,000			7,000	97,471
Total income					373,288	37,726		411,014	488,401
Expenditure on:
Raising funds
Costs ofgenerating	donation		income		141,575			141,575	138,510
Fundraising trading	costs				145,694			145,694	113,461
Charitable activities					137,125	4,337	543	142,005	261,476
Total expenditure					424,394	4,337	543	429,274	513,447
Net (losses)l gains	on investments			13	(75,310)			(75,310)	50,009
Net (expenditure)I	income				(126,416)	33,389	(543)	(93,570)	24,963
Transfers					14,164	(14,164)
Net movement in funds for			the year		(112,252)	19,225	(543)	(93,570)	24,963
Reconciliation offunds
Total funds brought	forward				2,721,207	7,411	543	2,729,161	2,704,198
Total funds carried forward					2,608,955	26,636		2,635,591	2,729,161

			2022	2021
		Note
Fixed assets
Tangible assets		12	1,267,464	1,218,571
investments		13	770,842	538,484
			2,038,306	1,757,055
Current assets
Stock		14	2,088	1,842
Debtors		15	45,440	36,765
Cash at bank and in hand			659,300	1,064,850
			706,828	1,103,457
Creditors falling due within one year		16	(109,543)	(131,351)
Net curent	assets		597,285	972,106
Net assets			2,635,591	2,729,161
The funds	ofthe charity:
Endowment	funds	19		543
Restricted	funds	20	26,636	7,411
Unrestricted	funds	20	2,608,955	2,72'I,207
Total charity funds			2,635,591	2,729,161

		2022	2021
		R
Cash flow from operating	activities	(38,539)	75,974
Cash flow from investing	activities
Dividend income and interest from investments		14,113	11,017
Purchase oftangible fixed	assets	(73,456)	(1,386)
Purchase ofinvestments		(415,751)	(33,662)
Proceeds from sale ofinvestments		108,083	49,614
Net cash flow from investing activities		(367,011)	25,583
Net (decrease)/ increase	in cash	(405,550)	101,557
Cash at the beginning ofthe year		1,064,850	963,293
Total cash atthe end of	the year	659,300	1,064,850

Reconciliation ofnet (expendit	ure)/ income to net cash flow fr	om operating activities
		2022	2021
Net (expenditure)/ income for the year		(93,570)	24,963
Depreciation charges		24,563	13,282
Dividends and interest from investments		(14,113)	(11,017)
Loss from disposal offixed assets
Losses/ (gains) on investments		75,310	(50,009)
(Increase)/ decrease in stock		(246)	(129)
(Increase)/ decrease in debtors		(8,675)	4,903
(Decrease)/ increase in creditors		(21,808)	93,982
Net cash flow from operating	activities	38,539	75,974

Summary	analysis	for donated	income
				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	Funds	2022	2021
				R
Donations	and legacies
Donations	and gifts			95,457	30,902		126,359	121,052
Legacies				57,255			57,255	112,262
				152,712	30,902		183,614	233,314
Costs ofgenerating		donation	income
Donation	costs			109,551			109,551	113,593
Support costs (see note 9)				32,024			32,024	24,917
				141,575			141,575	138,510
Net donations				11,137	30,902		42,039	94,804
Summary	analysis	for other trading activities
				Merchandise	Fundraising	Trading	Total	Total
				sales	events F	income	2022 R	2021f
Income from other		trading activities		401	197,207	5,233	202,841	145,424
Fundraising trading costs
Cost ofgoods				311		2,323	2,634	2,327
Staging events					125,269		125,269	97,292
Support costs (see note 9)					17,791		17,791	13,842
				311	143,060	2,323	145,694	113,461
Net other	trading activities			90	54,147	2,910	57,147	31,963

Income	from c	haritable activities
			2022	2021
			R	F
Patient	support	services	3,446	1,175

Investment inco	me
						2022	2021
						F
Bank interest receivable						450	53
Interest from fixed interest securities						2,351	2,384
Dividend income						11,312	8,580
						14,113	11,017
Other income
						2022	2021
							F
Grant income regarding			Covid	19		7,000	71,871
Business interruption		insurance		claim regarding	Covid 19		25,000
Re-imbursement	with	regard to		the fraud shown	in the 2015accounts		600
						7,000	97,471

Expenditure	on charitable activities
		Education	Prevention	Treatment	Total	Total
		and training		and patient	2022	2021
				support
Direct costs	(see note 8)			60,559	60,559	55,605
Grants to individuals		543		948	1,491	1,793
Grants to institutions		2,655	1,549	28,812	33,016	161,748
Governance	costs (see note 9)	2,559	5,118	17,914	25,591	25,719
Support costs (see note 9)		7,116	7,116	7,116	21,348	16,611
		12,873	13,783	115,349	142,005	261,476

Analysis	ofdirect costs on	charitable activities
			Patient	Total	Total
			support	2022	2021
			F
Heartbeat	House running costs		25,124	25,124	17,122
Heartbeat	House employment	costs	30,201	30,201	33,044
Heartbeat	House depreciation		5,234	5,234	5,234
Your Healthy Heart checks					205
			60,559	60,559	55,605

		General	Governance	Total	Total
		support	function	2022	2021
				R	F
Salaries and	related costs	19,243	21,910	41,153	41,367
ITand equipment		13,031		13,031	12,240
Insurance		2,186		2,186	2,108
Training and	staff development	948		948	0
General office costs		8,05&		8,051	6,684
Depreciation	and disposal ofassets	19,329		19,329	8,047
Bank charges		2,545		2,545	2,481
Legal and professional fees			681	681	0
Audit fees		26	3,000	3,026	3,026
Consultancy	fees	5,790		5,790	4,962
Trustee meeting costs		14		14	50
		71,163	25,591	96,754	80,965

Net incomel (expenditu	re) for the year
			2022	2021
This is stated after charging:				E
Operating leases - equipment			673	676
Depreciation			24,563	13,281
Loss on disposal offixed assets
Auditor's remuneration			3,000	3,000
Accountancy fees			26	26
Legal and professional	fees		681	0
Analysis ofstaff costs	and trustee remuneration	and expenses
			2022	2021
Salaries and wages			207,699	215,478
Social security costs			14,642	15,343
Pension costs			2,385	2,621
			224,726	233,442

Tangible fixed assets
			Land and	Computer	Furniture	Total
			buildings	equipment	and fittings	2022
					R
Cost
At 1 October 2021			1,522,608	20,593	80,178	1,623,379
Additions				3,462	69,994	73,456
Disposals				(3,344)	(1,642)	(4,986)
At 30September 2022			1,522,608	20,711	148,530	1,691,850
Depreciation
At 1 October 2021			317,839	17,616	69,353	404,808
Charge for the year			7,363	2,247	14,953	24,563
Eliminated on disposals				(3,344)	(1,642)	(4,986)
At 30September 2022			325,202	16,519	82,664	424,386
Net BookValue
At 30September 2022			1,197,406	4,192	65,866	1,267,464
At 30September 2021			1,204,769	2,977	10,825	1,218,571
Fixed asset investments
				Listed	Other	Total
				investments	investments	2022
Market value
At 1 October 2021				538,482		538,484
Additions				415,751		415,751
Disposals				(108,083)		(108,083)
Revaluations				(75,310)		(75,310)
At 30September 2022				770,840		770,842
Investments atfair value		comprise:			2022	2021f
UK Fixed Interest					73,956	71,897
Overseas Fixed Interest					173,873	65,368
UK Equities					90,609	60,519
European Equities					14,735	16,170
North American Equities					73,695	44,903
Far East 8 Austalasian	Equities				15,486	16,363
International Equities					72,184	75,993
UK Property					56,344	58,214
Emerging Economies					W	14,676
Alternative Assets					148,722	91,538
Cash held for investment		purposes			51,236	22,841
					770,840	538,482

14	Stock
			2022	2021
			R
	Merchandise		2,088	1,842
15	Debtors
			2022	2021
			R
	Trade debtors		3,380	2,030
	Prepayments	and accrued income	42,060	34,735
			45,440	36,765
16	Creditors
			2022	2021
			R
	Trade creditors		19,682	7,554
	Tax and social security		5,692	4,773
	Other creditors and accruals		76,465	108,361
	Deferred income		7,704	10,663
			109,543	131,351
17	Deferred income
	Deferred income comprises ofadvance ticket sales ofevents occurring after the year end.

				2022f
Balance	as at 1 October 2021			10,663
Amount	released to income earned	from charitable	activities	(10,663)
Amount	deferred in year			7,704
Balance	as at 30September 2022			7,704

Analysis ofnet assets between funds
	Unrestricted	Restricted	Endowment		Total
	funds R	funds	funds f		2022 R
Fund balances at 30September 2022 are represented	by:
Tangible fixed assets	1,267,464				1,267,464
Investments	770,842				770,842
Current assets	680,192	26,636			706,828
Creditors	(109,543)				(109,543)
	2,608,954	26,636		0	2,635,591

Analysis ofnet assets between funds - previous y	ear
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	2021f
Fund balances at 30September 2021 are represented	by:
Tangible fixed assets	1,218,571			1,218,571
Investments	538,484			538,484
Current assets	1,095,503	7,411	543	1,103,457
Creditors	(131,351)			(131,351)
	2,721,207	7,411	543	2,729,161

Endowment	funds
			Balance	Incoming	Resources	Transfers	Balance
			1.10.21	resources	expended		30.9.22 f
The Heartbeat	Education	fund	543		~543
Endowment	funds - previous year
			Balance	Incoming	Resources	Transfers	Balance
			1.10.20	resources	expended		30.9,21
							R
The Heartbeat	Education	fund	64,676		~64.133		543

Analysis o	fc	haritab	le funds
				Balance	Incoming	Resources	Gains/losses	Balance
				1.10.21	resources	expended	Transfers	30.9.22
Unrestricted		funds
General fund				2,721,207	373,288	~424,394	~61,146	2,608,955
Restricted	funds
MRI fund				42				42
Heartbeat	House fund			5,300	23,100	(3,087)		25,313
Heart Failure		Unit fund		46				46
3D Printer	appeal				14,164		(14,164)
Healthy Living		Centre appeal		50	187			237
Paediatric	Palliative		Clinical Nurse appeal	1,973	255			2,228
Prehab pilot						(1,250)		(1,250)
Explain my	procedure				20			20
				7,411	37,726	~4,337	~14,164	26,636

Analysis	ofc	haritab	le funds - previous y	ear
				Balance	Incoming	Resources	Gains/ losses	Balance
				1.10.20	resources	expended		30.9.21
					R		K
Unrestricted		funds
General fund				2,639,434	466,971	~437,528	52,328	2,721,207
Restricted	funds
MRI fund				42				42
Heartbeat	House fund				17,088	(11,788)		5,300
Heart Failure		Unit fund		46				46
3D Printer	appeal				2,319		(2,319)
Healthy Living		Centre appeal			50			50
Paediatric	Palliative		Clinical Nurse appeal		1,973			1,973
				ee	21,430	~11,788	~2,319	7,411