Charlty Roglstratlon No. 1116510
Company Reglstratlon No. 05924982 (England and Wal88)
WESSEX CARDIAC TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDING 31 DECEMBER 2023

WESSEX CARDIAC TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Mr G A Longhurst
Dr J M T Pierce
Dr J R Imlkinson
Mr N J Laplage
Mr G Oliver
MrNSGScarfe
Dr T Bharucha
Mr Bill 818ln
M8 P lannottl
Mr J P Evangellsta
Mr P M Haydock
Mr C Morr18
MRBum8
MrA Munden
Mrs H Eyer8
reslgned 31no3
resigned 2119123
r•sbgned 2614124
appolntad 519123
apFolnted 5112r23
appolntsd 5112123
Akno known ••
Chlof •x•¢utlvo 0ffl¢or
Mrmlnd
Charlty numbor
1116510
Company numb•r
05924982
Regl•tor•d offlc•
Hearlbeat House
152-154 Tr6mona Road
Southampton
S018 8HW
Audltorn
Westlake Clark Audlt LLP
Untt 1, IA*st Llnk8
Tollgaie Buslness Park
Chandler8 FoTd
S053 3TG
Bank•r4
Natwesi Bank PIC
26 Above Bar Street
Southampton
S014 7DS
Inv••lm•nt advl80rn
Investec Vlealth & Investment
Midland House
2 Poole Road
Bournemouth
BH2 5QY
8olkltorn
Parls Smlth LLP
1 London Road
Southampton
S015 2AE

WESSEX CARDIAC TRUST
CONTENTS
Trust￿, report induding directors. rer#Jt
Indepwthnt auditths. reF¥Xt
10
Balance sheet
11
12
Notes to the &counts
13-23

WESSEX CARDIAC TRUST
TRUSTEES, REPORT IINCLUDING DIRECTORS, REPORT)
FOR THE PERIOD ENDING 31 DECEMBER 2023
The trustees are pleased to present their annual report togothorwlth financlal stalamants of the charity for
the p8rfod endlng 31 Decèmber 2023. The trustees have adopted the provlslons ofthe Statement of
Recommended Practke {SORPI 'AGcountlng and R8portlrwJ by Charfltes. IFRS 1021 In preparing the
annual report and financial statements of the charity.
The Charity constltutss a public b8nefil enw 88 defined by FRS 102.
SIn￿lur•, gov•rnanc• and managomènt
Gov•rnlng document
Wessex Cardiac Trust Is a company Ilmlled by guarant8& govomed by 118 Memorandum and Artid88 of
A880cla￿on. It15 a rag15tered charity with the Charlty Comml8810n.
Gov•rnlng body
New tru8te88 are Identlfted by tru8teos and their recrultment 16 based upon the skllls and experfence that
they can bring to the charlty wllh the board 8eeklng to provide the ¢harfty wlth a range of sklll8 In govemance
and management as w811 as representatives from tha Wa88ax Cardiac Cantre and th089 wlth first hand
experfence ol heart dlsease.
Tru8ts• Indu¢tlon and tralnln9
Tru81888 have an Induclon tralnlng programme and Spend tlmo wlth the Chlef Executlve or member8 of the
Senlor rnanagemant tsam to In¥ofve thom In tha work of the charty and the Wessex Cardlac Centre.
Oryan18•tlonal man•g•m•nt
The Iru8tee8 are legally re6ponsSble for the management of the rf8k8 faced by the charlty with the day to day
runnlng of the charlty belng delegated to th? Chief Execullve who Is supported by the He8rtb8at Team. Th8
Chtef Execuove attends all meetlngs of trustees and regularly reports and updales the chalmian betrween
the quarterfy meetings. Remuneration is reviewed for kay per80nnel through annual appralsal8.
R•lated partl
Vle88ex Cardlac Trust has a wholty owned subsldlary, W•88•x H•artboat Llmlted. Thls company cea88d to
trade In 2012 and has remalned dormant.
Rl•k manog•m•nt
The trustees have a duty to Identlfy and rovi8w th8 r￿kS to which tho charity 18 exp088d and lo ensure
appropriate controls are In place to pro￿de reasonable assurance agalnsl fraud and error. Delalled
considerallons of risk are de18gated to the Chief Executive and the Héartbeat Tèam. Risks are Idenlffied,
assessed and controls establlshed throughout the year. A fomial revlew ol the charlty'8 rfsk management
pr¢Kess is undertaken on an annual ba8ls and the key C(￿trol5 include..
comprehensive strateglc plannlng, budgetlng and management accountlng
establlshed organlsatlonal st￿dure and lines of reportlng
formal written poll¢les
clear authoritie8 and approval levels
full risk assessment for all major fundralslng events
Through the risk rnanageff￿t process88, the iru8tees are Satisfied that the major rfsks klentified have been
adequaiely managed where necessary. It Is recognlsed that systems Can only provide reasonable but not
absolute assurance that major risks have been adequately managed. The main rlsk to the charity for the year
under ￿VIeW Is the current economic dimai?. and as a result the trustees have preserved the regerves of
the charfty by not overspending the funds available to t￿rn.

WESSEX CARDIAC TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
pur￿68 and actlvltlo8
The purposes ofthe charity are to relieve suffering from cardlovascular dlseases prfmarfly by supporting the
work of the Wessex Cardiac cent￿ based at Southampton General Hospital and working within ttte
communlty of ttkg Wessex Reglon. This Is achieved by providing equipmenl services. and facilities to help
pattents and their relatives through the Fxocess of treatment in the Centre, by funding research into the
prevention. rehabilitation and cure of such dis8ases and by providing funds and lacilittes to train 8nd educate
staff in the Centre.
The trust achleves these obj.ects through 4 areas..
1. Educallon and tralnlng
Selectively provldlng funds to traln and educate staff in the Wessex Cardiac Centre ranging from
supporbng attendees at conferences to funding training courses for medical slaff to enhance and
advance their professional knowledge and skills.
2. Prevenllon
Providing medic81 equipment and fvnding research on the prevention of heart dlsease to the Wessex
Cardiac Centre. Both equipment and servws generally of a type that the NHS would Mt provide (for
exampfe leadin9 edge or innovaiory}.
3. Tr•atm•nt and pallont 8UPPOrt
I￿Vning and operatlng a faci1Sty fr)r people with loved ones on the Cardiac Wards. Héartb&* House is
25 bedroom °home from home. adjacent to the hospital arKI provides accommodation for up to 35
people at any one time and is available to anyone who's Telative is an in-patient in the Wessex Cardiac
Centre. Besides the purchase of t￿ property, this provision is a ￿bStantIal On-goi￿ expense
commitment for the ¢harity.
Providing servlces wht¢h are fC￿Sed on Improving the patlent envlronment, experlence and raislng
standards ofcare and treatment.
Rehabllltatlon
Funding research on the rehabilitation and cure of heart dlsease.
Alms and InteThd￿ Impact
Wthin these purposes, the charity's Primary goal is to improve cardiac care across the Wessex Reglon. The
irust8e5 and staff have completed a Strateg￿ review of its activit¢es with str8tegi¢ aims to:
Contlnue tr> support the vital work of the Wessex Cardiac Centre to delrrfer the highest wssible quality
of treatment and care for cardiovascular patlents throughout thelr lives.,
Support Ihe education 8nd training of all staff within the Wessex Cardiac Centro.
Imprové thejoumey and experience of all patients and th8lrrelatfve$ treated within the Cardiac Centte",
and
Develop and fund servlces whlch offer prevention and rehabllltatlon acro$s the 14Ve$sex Ragion.
The chaTity's role is lo raise funds to meet the unmet needs of the INessex Cardiac Centre In dellverlng Ihe
best possible care for cardiovascular patients throughoul all stages of care and treatment supporting tha
provision of.
A huh quality, agelneed approprlaie pthnt experlence In an envIronff￿t most conducive to
achievlng the best outcomes for everyone;
An emotional and practical r8fuge for the relatives of patients vthile their loved ones are undargolng
inpatient trealmenL This is the purpose of Heartbeat House and aceommodatlon Is offered free.
Leading edgé equipmènt and
Support active research In cardlac care to take forward medical advancements and malntsln the
Wessex Cardiac Centre's status as a cantré of excellence.
By focusing on these areas. we achievè our stratsgic priorlties whlch are then measured against budget.

WESSEX CARDIAC TRUST
TRUSTEES. REPORT ICONTIMUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
Obi•etivts lor th• y•ar
Durin9 the year. the trust hal three rnai(x
1. Educatton and tralnlng
To continue to promote and the aims oflkn HeartbeaL Year on year the charity supports
cardiac Gare needs and worilies made kn(hYn to it through a prc¢ess of grants submissions, using
unrestricted funds achieved through donations. community fundraising and events. In addition, the
Trust continues to wonM)te the overrNJirwJ pwpose of charity as widely as possible throughout the
Wessex Region.
2. Pallent support
To continue to provKle nurse speoalist supwxt roles T*ilhin Paedialrtc Palliab¥e Care arKI Cardiac
Vbbrker in support of PsychotrJgical needs ts enh￿￿ pa￿ experien￿$ living with long term
h&alth conditions and congenital hewt disease.
3. Troaknent- Heartbeat Ho
To wnllnue to run and malntsln Heartbeat Hou8e. wovides a 25 bedroom 'PKxne from home.
for up to 35 people whose loved or￿$ are undergoing treatm￿1 wtlhin the Cardiac Centre.
Prln¢lpal actlvlll•s for tho
Thethree obj'ectbves outlined atove. the rrAin prrn¢ipal a¢lpiilEs undertaken during tsyear. In addilion,
the trust cOntin￿d to support any aj needs for cr11p￿1 education or 94uipment in line with its purpose.
Grant m•klng poll¢y
Trust provides grants in ￿ne with its oty&ts and forfijndng ttklt are identified from tirne to time.
Ttr￿ fall Into the follty*lng categ￿. Educatron and trainiTrJ. We￿itiOn. treatrnrt and rehabilitatson.
Volunteers
Th8 Trust has, since its establrshrf baen supp(xted by many wl1lw￿ volunteers in furKlrai5ing and
administration actNities of the charity. the trustees woukl like to take this opportunity to say how much they
apwe¢i* their (Thtinued arKI valuable suprth ts our%ryfl work in the communty.
Publlc benefft
Vlessex Cardiac Trust exists solety to wovide benefft to the public through on-goiThJ support to the Cardiac
Unit helping it to achieve ts besi of ¢ardia¢ care. This is enabled by continuing lo upgrade and improve the
facilities wrf(hin the Uni( provide accomnK)datw)n to rektpies of inpatients. vital education and tralning
opportunities for staff, and through striving lo lo rr*dic21 advan￿ments through nvaluable
The trustees confim that they tAve comF4led wllh Iher duty in se(lion 17($1 ofthe2011 Charltleskt to have
due regard to guidan￿ published by th? Charity Commiswn in respect of public benefiL
Flnan¢l•l In8trum•nts
The charities actNiti8sexpose it to a numberof financial risks, includiThJ uedit r&sK cash fl¢y* risk and liquidty
risk. Written principles the use of financkql derrrfatives are used to rnanage these risks.
Credrf( risk is limited due to the Fvincipal fffwncial assets bery ba￿% balan￿ arKI invesfvnts with high
¢￿dit ratings a￿igned intemational credit raling agencie&
Ish Ilow rlsk Is prwnarity the risk of changes li inkrest rth, interest beariThJ assets and ]￿bIll￿e$ a￿ held
at fixed rate to ensure ¢*inty of flryw.
Liquidity risk is reduced due to d￿ritY using a mixture of loThJ tem and short4em debtfinance to ensure
that SUffi￿ent furKls are available far ongoing opwatThs and fu￿re developn￿.

WESSEX CARDIAC TRUST
TRUSTEES, REPORT (CONTINUEDI
FOR THE PERIOD ENDING 31 DECEMBER 2023
A¢hlevomonts and p•rfomian¢•
Vle have had a very positbve start to 2023 after a fragSle econ￿￿1¢ rewvery from the effects ofthe Covld-19
pandemlc, the war In Ukralne and the ¢ost-of-living crisis that followed. We have seen a retum to 8 full
schedule of fundraising activities and events which has gNan dse to a 40% growth in overall income streams.
This has enabled the recruitment of a new communlty fvndralser to penetrate tho l¢xal communlty markot
further. During the year the charity:
1. Commllted £300,000 of support to several Grftical projects whlch Include8'.
Contlnue to support and develop 3D heart modelllng for compllrAted congenllal heart dlsease
In ¢hlldren
Concluslon of the Paediatrie Palliatlve Care Nur88 8UPI￿rt whlch18 now belng funded by the
NHS
Concluslon of the Heart Failure Nur88 to provlde a Rapld Respon88 8er4lce In the communlty
to reduce the length of tlme Heart Fallure p8tlents stsy in hospltal and relleve winter pressure8
on the hospital with successfvl ffjsults
Supported a research project Into Identifying pa￿ents at rlsk of anglna and STEMI through
marker8 of DNA damage and repair pathways
Purchased wlre1888 HD Hoadcam to magnlfy and record complèx heart 8ur9ery
Development of a Prehab116tstlon Servlce Trlal lflt for surgary)
Fundlng of Cardla¢ Youth Worker to support psychoioglcal needs In cardlac patl8nts.
2. Contlnued lo run Heartbeat House wlth contlnued relurb16hment 8eelng the replacemenl of beds,
headboard8, Curtalns and bllnd8 at a c08t of £18.000. Al80 rènderlng of the outslde, Improvements In
dralnage, fire & water rlsk and general health & 8afety of the house.
3. Imth 2023 belng our 301h annlversary we Saw a full year of fundralslng wlth 8ucc888fv1 golf day8,
lummer paty, autumn ball and our 8POrt8 and Challen￿ evènts. Our hlghllghl bolng our Mu81cal8 from
the Heart 8how at the Mayfiower Theatre wth our patron HRH Duche88 of Edlnburgh In attendance.
Flnanclal Mvl•w
A8 shown on the Statement of Flnandal A¢tfvlth on page 10, IrKome ftjr the p•rlod amounted to £804.867
{2022'. 411,0141, expenditure for thè period amounted 10 £783,43812022- £429,274), glvlng a ￿t Increase
In funds after gains on Invosknent of£43,351 {decreas8 2022: £93,570). At the end ofthe perfod, the charity's
net 8889ts amounted to £2,878.942 (2022: £2.835,591).
Tha charity pald £879 on behalf of Ihe trustees in relatlon to Indemnlty Irfjuran¢812022'. £868>.
Golng concorn
After revtewlng the charlty'8 forecasts And projections, the Board have a rea80nable expectatlon that the
Charty has adequate re￿urCeS to continue In operational exlstence for the for￿69bh2 fuiure. The entlty
therefore continues to adopt the going concem basis In preparing its financial 8tatemants.
Prlnclpal fundlng •our¢
The principal fundlng sour¢88 of the charity are donatton8 from the general publlc, leoacle8, and through
varlou8 fundralslng 8CtIv￿8S.
Investment pollcy
Funds are Invested to produce the maxlmum Income conslsient wlth security of capital and certainty of
realisalion. Wtitrt hlstorfcally low interest rates the Trust's strategy is to invest In a iow to medlum risk portftjlio
of assets that delivers a growlng level of Income balanced with the opportunity for capltal grovrth over the
longer tem. Quarterty meetings are held wlth our Investment adv16ers to revlew investrnent pofftimiance
against investmenl projections.

WESSEX CARDIAC TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
RM•rv•'8 polky
It is the policy ofthe trustees to 8ecure the long-tem viability of the Trust by balancirMJ the ongolng obligations
in relalton to the maintenance and upkeep of Heartbeat Hou8e, the various research activities or projects
and the general support requlred by the Wessex Cardlac Centre. In addlllon, sufficlent Ilquld re8eNes need
to be maintained lo meet all anticlpated $r￿-t6M7 needs, after allowlng for income from fundrai51ng activllies
Ilkely to be received withln the ￿qUired timescale and. Insofar as avallable fvnds are Insufficlènl fully to mgel
the foregolng obJe¢fvos, to glve prfority to the short-tsrm needs except where that would require funds
donated Specifically for endowment purposes to be utlll8ed contrary to the donorfs wlshes.
Free res6Nes a￿ those funds that can be rassed from assets that are readily realtsabte. less those funds
whose are restrt¢ted. At 31 Dec8mb8r 2023. free reserves amunled to £545,80812022: £570,649).
The Inl8nUon Is trj keep fr88 reserves above £500,000 whlch equates to two years running c08ts of the
charfty. Any shortfall that may arlse In re8trlcted fund8 In the futuro would be substi￿ted by the free re8efVa8
available.
The Tru8t prepare8 an annual budget for e8ch ilnanclal year outllnlThJ.'
Anticipatad incomé for general and restrlcted funds; and
Antlclpated 8xp8ndllure a880clated with all aspects of the charity's buslness. Som? may be
committed expendlture on for example Heartbeat Hou8e malnt8nance,' grants exiendln9 over a on
year perfod, th18 to l)8 taken from general or restricted fvnd$ as approprHte.
Plan8 for th• futur•
Heartbeat18 pa8slonats about Improvlng thè ￿re for people lfvlng wlth heart ￿ndItIOn6 wthln the area11
serves. Our alm Is to Improve the cardlac loumey and the patlent experlence of all patlents for whom the
Cardlac Centre provldes care from diagnosls through treatment to aftercare.
We r•cogn180 that patlents, ￿lIb&in9 and outwme8 are Improved by..
Medlcal 8dvance8',
A posltlve patlent ex￿enCe In an envlfonm8nt conduclve to Indlvldual need,,
Support for patlents loved ones whlle they are undergoing treaknent and
Support for 8taff carfng for patlents.
The $tr8teglc plan for next year includes the followlng prolects:
1. Prwontlon- £100,000 over the n•xt 3 y•arn
A conts'nuation of communlty defibrlllator Installallons acro88 Hamp8hlre Includlng tr8lnlng to reduce
morbldlty from cardlac arrests ond th& rfrlntroductlon of the Healthy H&art campalgn for the buslne88
& corporate o)mmunlty to help Idonllfy r18k factors such as hlgh chol88torol and blood pr88sure In
preventlng 8ubsequent heart dlse88e.
2. Pr•habllllatlon- £200,000 0￿1 th• n•xl 2 y•arn
The Prehab. prole¢t seeks to prove the positive Impact of Ilght exerckse, good dlet and psychological
support prtor to certain types of cardlac surgèry that wlll enable W'ents to recover quicker rtht-
8urg&ry, reduce recurrence and elongate Illespan; and
3. Trnatmont- £OOO.000 over tho noxt 2 y?•r•
Funding the PICNIC research project arourKI Ihe effectiveness of stentlng artedes, Investment In th8
Heart Failure Unit at UHS, 8UPPOrting 'Little Hearts at Home, which will enable parents of 80rn8 infant
cardiac patiènts to care for thelr Chlldren al home and the continuatlon In the grovrth of Cardiac
Psycholog1￿1 Support across all derrwraphics.
4. Patlent Support- £300,000 over th• Mxl 3 year•
Improving the quality of Heartbeat Hou8e to include the rfrdeslgn and renovatlon of both the lounge
and kitchen and dlnlng areas.

WESSEX CARDIAC TRUST
STATEMENT OF TRUSTEES. RESPONSIBIUTIES
The trustees, who are also the dlr8Ctors of Wessex Cardiac Trust for the purpose of company law, are
responsible for preparing the Trustees, Report and financial statements in accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generalty Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial stalements for ea¢h year which gNe a true
and falr vlew of the stale of affairs of the Charity and of the inc¥Jrning resources and application of re%)urce5,
including the income and expenditure, of the charitable company for that year.
In prèparing those finandal statements. thè trustees are required to:
seleci suitable accounting polic￿ and then appty them conslstenty.
observe the methods and principles in the Charlttes SORP,.
make judgem8nts and estimates that are reasonable and prudent.
state whether appllcabl? UK accounting standards have been followed. su4.ect to any material
departures dlsdosed and explalned In the financial statsments,. and
prepare the financial statements on the going concem basis unless it is inappropriate to presume that
the charity will continue In business.
The trustees a￿ responsible for keeping proper aGcounting records that disclose with reasonable accuracy
at any time the financial FW)sition of the charity and to enable them to ensure that the financial state￿￿nts
compty the Companies Act 2006. They are also responsible for safeguarding the assets of the Gharlty
and hence for taking rèasonable steps for the prèvention and detection of fraud and otsr Irregulariiles.
The trustees are [￿PonSible for the maintenance and integrity of the corporate and financial infomiati)n
included on the charitable company's website. Legislation in the UK goveming the preparallon and
disseminat¢on of finar￿la1 statement may differ from legislation in other jurisdictlons.
Ststsm•nt a8 to dl8clo•ur¢ lo our audltorn
In so far as the trustees are aware at the tiff￿ of approvlng our trustees, annual report..
there is no relevant information, being irrforn￿ti0n needed by the auditor In connecth)n w6th weparfng
their repor( ofwhich the charity's auditor is unawarn., and
the trustees, having made enquiries of fellow directors and the audStor that they ought to have
Individually taken, have each taken all steps thal hel she is obliged to take as a director in order to
make themselves aware of any relevant audit information and to establi$h that the auditor is aware of
that information.
On behalf of the trustees
carfe-c
li of Trustee8
Date..

WESSEX CARDIAC TRUST
INDEPENDENT AUDITORS. REPORT
TO THE MEMBERS OF WESSEX CARDIAC TRUST
Oplnlon
We have audlted the finar￿la1 statements ofwéssex Cardiac Trust forthe period ended 31 December2023
which ¢omprise statement of financial actlvltles, balance sheet and notes to the financial statements.
including a summary of slgnlficant accounting policies. The financial reporting framework that h8s been
applied in their preparatlon is applicable law and United Kingdom Accounting Standards, including Finan¢lal
Reporting Siand8rd 102 The Financial Reporbng Standard applicable in the UK and Republic of Ireland
(Unlted Klngdom Generally Accepted Attwntlng Pract￿).
This report is made solety to the charftable company's mambars. as a body. in accordance wilh Chapter 3
of Part 16 ofthe Companles Act 2006. Our audlt work has boen undertaken so that we might stale to the
Charitable canpany's memberyJ those matters we are required to state to them in an auditoffs report and
for no other purpose. To the fvll&st extent pemiitted by law, we do not awt or assume responsibility to
anyone other than the charitable company and the ¢haril8ble company's members as a body, for our audit
work, for this report, or for the oplnlons we have fomw.
In our oplnlon the finandal statement&.
give a true and falr vlew of the state of the charitsble company's affairs as at 31 December 2023. and
of tts incomlng resources and applicatK•n of resourw. including its income and expenditure. for the
pariod then 8fKled;
have b8en property prepared In accordance with United Kingdom Generalty Awted Accounting
Practice. and
have beèn prepared In accordance with the requirements ofthe Companies Act 2008.
Ba818 for oplnion
le conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and
appfjcable law. Our responsibilities under those slandards are further describad in the A￿lit0￿$
responsibilities for the audit of the financial statements section of our reporL We are independent of the
charitable company In accordance wllh thè athical requirements thatare relovantto our audltof thè financlal
statements in the UK, Includlng the FRC'S Ethlcal Standard, and we have fulfilled our other eth1￿1
reswnsibilities in 8ccord8nce with these requirements. INe believe that the audit evidénce w8 have
obtsined is sufficient ar¢d appropriata to provrde a basis for tyjr opinion.
Concluslons rnlating to golng ¢on¢ern
We have nothing to reF#Xt In respect of the following matters in relation to whkh the ISA8 (UK) requtre us
to report to you where:
the trustees, use of t￿ gcAng conrkm basls of a¢￿untinll In the preparallon ofthe financial staiemenis
is not approprlate,. or
the tn￿tee$ have not dlsclosed In the financlal statements any Identmed maierlal uncertainties that may
cast $ignrficant doubt about the charitable company's ablllty to contlnue to adopt the going concem
basis of a￿A)UntIng a pèriod of at least ￿efve mijnths from the date when the financial statements
are authorised for issue.
othor Inforniatlon
The irust&&s are responsible for the other nft>rrnation. The other infomiation corrprlses the Infomiath)n
included In the trustees. annual report, other than the financial statements and our auditorfs report
Ihereon. Our opinion on the financial statements does not cover the other information and, eKept to thg
extent otherwlse expliciuy stated in our report, we do not express any fom of assurance ¢on¢lusion
theraon.

WESSEX CARDIAC TRUST
INDEPENDENT AUDrroRS' REPORT (CONTINUED)
TO THE MEPABERS OF WESSEX CARDIAC TRUST
In wine¢tion ￿th our audit of the financial State￿￿, our re¥MYr8ibifty is to read the other information
and, in doing so, consider wthether the other InforTh0￿ is IrAterial￿ inconsk%tent with the financial
stslements or our knowledge obtained in the audit or otherwise appearyJ to be materialty misstated. If we
identify such material inconsistencies or apparent rnaterial misstate[r￿. we are rwuired to deternine
whether there Is a mateiial misstatement in the finanLid statew£nts or 8 material rrisst8teffent ofthe other
inf0m￿tiOn. If, based on Ihe work we have perf0M￿j, The conclude that there is a material misstatement of
this other inf0M￿tiOn. we are required to report that frdcL have nothing to rel￿ in this regard.
Oplnlon8 on other mattern prn8crfb•d ty tho Companlos Act 2006
In our OpIn￿n, based on the ¥•Drk undertaken n the course ofUE aud
the inf0m￿tion gNen in the trustees, (￿r￿ratIng the directors. report) prepared for company
law purpose, for the financial year forwhich financiat statements are prepared is consistent wilh the
financial statements; and
the directors, reFWYt in¢l￿je￿ within tt*tNstees' repNihas been yepared in accordancewlth app1Ka￿e
legal requirerrEnts.
Mattev8 on whl¢h ￿ are rwulred to report ty oxwtton
In the ligm of our kn¢)wWge and Unde￿nd1￿ of the chariiable and tts envmnrr¢nt obtsined in
the course ofthe audit, we have identified n*ria m1sstate￿￿nts in the trustees. rep
have nothing to report in respect of the folltrwing ffotters in relabon io which the C(ryanies Art 2006
requlres us to reFxyt to you if. in our oiyniM'.
adequate aw)unting re￿d$ have rttx been kep( or retwns ad•]uate for ow aLKIIt have not been
receNed from branches not visited by us., or
the financial s1ateff￿nts are not in agreenRrt *ryth tr¢e actountiNJ re(J)rds and retums: or
certain disckisures of dir￿Irs. remuneral*)n s￿￿￿ed ty law are not made: or
we have not ￿e1Ved all the infomHtion aThJ eyplanations we require for tyjr a￿￿1( or
the trustees were not entitled to wepare the financial statements in aca)rdance wilh the small
npanies. regime and take advantsge of the sThHII c￿nieS. exemptv)ns in weparing the trustees,
report and fmm the requirenRrt to wepare a Strateg￿ ieFrfrt
R•spoMlbifffjes of trust••s
As explalned nlxe futy in the trustees, responsibilitles slatement set out on page 6, the tn￿tee8 {who are
a150 the directors of the charilable ¢onyny the purFwxes of cowyany law) are responslble for the
preparath)n of the finanaal staternents and for b￿n9 satisfied that they give a true and fair view. and for
such intemal control as thetrustees detemiine is r*cessary to enablethe preparation Offinanc￿l statements
In preparing the finanaal statenxnts, the trustees are respMsibk for assessing the charilable company's
abl￿ty to continue as a going wn(￿, dixlosiThJ. as applicable, ￿lter$ related to going o)ncem and usirKJ
the going concern basis of accounting unless the trustees either intend to liquKlate the charitable company
or to cease operations, or have no realistic altemative Ixrt to do so.
Irregularltles, inthdiw fraud. are Instan￿ of with laws and regulation& deswJn
wocedures in line with our respoNbilities, ¢xrtlined above, to de￿ materil mi5slatements in respect of
1r￿ul8r111es, including fraud. The extent to whth our ￿￿edureS are capable of detect1￿ Irregularitles,
including fraud ts delaiw belthv.

WESSEX CARDIAC TRUST
INDEPENDENT AUDITORS. REPORT (CONTINUED)
TO THE MEMBERS OF WESSEX CARDIAC TRUST
Our approach to Identlfylng and assesslng the rlsks of material misstatement in respect of Irregularltles.
induding fraud and nonrycompliance wlth laws and regulations, was as follows..
th? engagement partner ensured that the engagement team collect￿le1Y had the approprlale
tsJmp8tence. ¢ap8billtles and skllls to Identlfy or re¢ogn168 nonkncoffyllance wlth appltcable laws and
regulations;
we identified law8 and ragulatron5 applicgble to the through dl8cus8lons wlth the trustees, and from
our understandlng and experienca of audlt Issues which are relevant to ¢harfty;
we focuséd on specific18W8 and regulatlons which we consldered may hav? a dlrecl nwlerlgl effect on
the finandal statements or ihe operations of the charrty:
we assessed tha extent of compllance wllh the laws and regulations through maklng enqulrle8 of the
management team and Inspecting legal correspond8nce: and,.
Identified laws and regulaltons were communlcaled wlthln the audll team regularfy and the tsam
remained alért to Instan￿ of non-compllance throughout the audlt.
Vle assessed Ihe susceptlblllty of tha charlty's financial statements to matsrfal ml88tat8m8nt, IncludiThJ
obtalniw an understandlng of how fraud might occur. by:
Audit Procedu￿ undertaken In rospon8e to the potential dsks reladng to Irr8gularflS88 (whtch Includ& fraud
and non-compllance wllh laws and regulatlon8> which comprfsed Inqulr4e8 of management and the Board
of Trustees as to wholher the charlty complies wlth 8uth laws and regulations; enqulrfes wlth the Same
concamlng any athal or potentlal Iltigalton or clalms; in8pection of relevant legal ¢orre8pondence,' revlew
meeting minutes; tesllng the appropflatene88 of journal entrl8s,' and the ￿rf0n￿￿neé of analytic81 revlew to
Identlfy unexpected movements In account balances whlch may be indicatlve of fraud., documontallon and
revlew of Ihe Intsrnal control8 over funds re¢elved and expondlture pald ou¢ 8ampllng and testlng both
income and expendlture tran8actton8 for acoJra¢y and compleieness; revlew and audSt ba8ed anaty81s of
the undodylng accounttng re￿rds. checklng and 88mpllng accounllng data back to or*inal 80urca
documents.
No In8tance8 of materlal non4omplrance wer8 Identified. However, the Ilkellho¢)d of detectlng Irregularltle8,
Includlng fraud, Is limited by the Inherent dlffi¢ulty In delecllng Irregularltla8, the 8ffectlvene88 of the 8ndty'8
controls, and the nature, tlmlng and extent of the audlt procedures perfomwd. Irreoularltles that result from
fraud mlght be Inherently morè dlfficult to dete¢l than irregulafitles that r85uIt from error. A8 explalned above,
Ihere Is an unovoidable rfsk that materlal ml88tatern8nts MAY not be detected, even though the audlt ha8
been planned and performed In accordance wlth ISA8 (UKI.
AudltoV• rngpon•lbllltlo• lor tho audtt of th• fln•ncl•l •tstem•nts
Our obleclves are lo obtain reasonable assurance about whether the ffinancial statements a8 a whole are
tree from material mls8tatement, whether due lo fraud or error, and lo Issue an audltor's report that Includ88
our oplnlon. Reo$onable a$8urance Is a hlgh level of 88sur8n¢e but Is not a guarantee Ihal an audll
conducted In accordanL* with IS4s IUKI will athys detect a materlal ml$ststement when 11 exlsts.
Misstatements can arlse from fraud or error and are considered rnaterial ff, individually or In the aggregate,
they could reasonably be expected to influence the Konomlc declslons of users taken on the basls of these
financlal statements. A further description of our r8spon8ibilittes is located on the Financial Reporting
Council's website at WW4V.frc.org.uklauditorsresponsibillttes. This description forms part of our audito18
report.
rkngan•rd•n Plllay Cholv•nalgum (8tatutory Audltor)
For and on ￿hall of Westlaka Clark Audlt LLP
Unit 1, West Link8
Tollgate Busil￿88 Park
Chandlers Ford
S053 3TG
Date.. .LS .0.6.

WESSEX CARDIAC TRUST
STATEMENT OF FINANCIAL ACTMTIES (INCLUDING INCOME & EXPENDITURE ACCOUNT)
FOR THE PERIOD ENDING 31 DECEM8ER 2023
Unrestrl¢tsd R¢strlctod Endowmont
fund8
funds
funds
Total
2023
T¢)tal
2022
Incom• and •ttdowments from:
D¢>nallons and legacles
Other trading a(ti¥ities
Charltable activlU88
Investments
295.878
299,782
15.431
38,837
135,185
20,754
431,063
320,636
15A31
36￿37
1.000
183,614
202.841
3,446
14,113
7.OlJO
1.000
Totsl Incom•
647.928
156.939
804867
411.014
Exp8ndlturv on:
Ralslng funds
Costs of generaling donatlon irKom•
Fundraislng tredng costs
217.363
265.e99
217,363
264699
141,575
145.894
Charliable actlvltles
131.148
189.228
300,376
142.005
Total expendlture
614,210
169,228
429,274
Not {lossosy galns on investsnents
13
21,922
21,922
175,310)
Not lexpondltyrny Incomo
55,640
112.2891
43,361
(93,5701
Transfer5
168,93S)
68.935
Net fflOVOmgnt In fvnds for th• y•ar
{13,295)
43A61
(93,570}
Rocon¢lllaOon of funds
Total lunds brought foThvard
2,808,955
26,636
2,636.691
2,729.161
Total funds Carr1￿ forw•rd
83.282
2,678 942
2.e35.591
The 8t*ment of financlal actlvlties indud•s all galn$ and10588s ra¢ognlged In the perk)d.
All Income and expTh1￿ure derives from continuing aCts￿tIes.
10-

WESSEX CARDIAC TRUST
Company no. 06924982
BALANCE SHEEr
AS AT 31 DECEMBER 2023
2023
2022
Tangl￿e assels
12
13
1.237.335
812 616
1.287.464
770.842
1049.861
2.038.306
Current •s•ots
Stock
14
15
2.088
45,440
659,300
706,828
46,180
626.160
674301
Cash at bank in harrtj
CredltsN8 falllng due T*lthln one y••r
16
{46,110)
1109.543)
629.091
$97.285
2,635.591
The funds of tho charlty.
19
28,636
Unre8trtded funds
1695,600
2,808,955
Tolal charlty fvnd•
2.635.591
Act 2006 relallTrJ to Small Lthaiilth coThrpanie&
Mr N S G Scarfe. Clwir rfTn
f (b[29
11

WESSEX CARDIAC TRUST
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDING 31 DECEMBER 2023
2023
2022
C•$h tlow Irom op•ratlng ac￿¥111•$
147,204)
138.539)
Cash Ilow frnm Inv•8tlng a¢llv5ti
Dlvtdend Income and Intere8t from In¥gslmonts
PurGha8e of tsnglble fixed asset¥
Purchase of Inv88tments
Proceads from Sale of In¥e8tm•nl8
36.837
13,021)
1140,6OB)
120,863
14.113
(73.458)
1415,751)
106.083
Net ¢uh flow from Invo•tlng •¢tlvlll
14064
1387.011)
N•t Id•crnaB•y Incr•a•• In rA¥h
(33,1401
1405.550)
Ca8h at th• b•glnnlng ollho wrlod
859,300
1,084,850
Totsl ¢a8h at th• •nd of th• p•rlod
859 300
R•¢onclll•tlon of not l•xp•ndllur•ll In¢om• to not ¢a•h flow from 0￿ratIng a¢tlvltl
2022
N8t18xpondlturay Income for tho year
Depreclauon th8rge8
Dlvldends and Interest from Inve8tm•nl•
Loss from dl8po$o1 of fflxed a88et8
L0881 Igalnl on investments
D•¢rea$o1 {Incre88el In 8trKk
(Increasey dgCTea8e In dobtor8
ID8crnasey Increase In ¢redllors
43,351
32,776
136,8371
374
121,922)
227
17401
(64,4331
193.570)
24,563
114,113)
75,310
1246)
(8,675)
(21,808)
N•t ca•h flow from op•rallng actl¥ltte8
12.

WESSEX CARDIAC TRUST
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDING 31 DECEMBER 2023
ACC￿￿tIng polld
Wessex Cardkc Trust Is an inCorp￿ated chaiity knied ty wantee in Eryland. Tre addr8S8 ofthe rngl8lered offlcelg
given in the charity infonnatM)n at the frcrf* dthese fin￿491 s1*eme￿. The rkn ofthe opwaUon8 8Th1
priwpals are det*J on page 2.
The charity ￿lstitUteS a benefft enffty as defined ty FRS 102. financlal stateM￿ts have been prepared in
aLWTdance with Accounting Rwting C￿l￿e$. Stat&1￿￿ of Practtce appllcablè to charilies
preparing their amnts in aco¥d￿ ¥￿th ts FtrwKial ReprxtNd Standard applcable in the UK and Republic of
Irdand IFRS 102) (effe￿￿￿ 1 January 2019) - {Ch•ities SORP {FRS 102)). the FM¢ial Reporting Standard
appl¢cable In the UK and Repubk of I￿nd (FRS 1￿) arml the Charilies Ad 2011. Ihe Companie5 Act 2006 and UK
The Company 1$ a parent c(%T￿•nY * lo srrAIt compantes Tefft. Thg c4)ny3ry arKI fts $ubslthary comprf80 a
small grow). The CoM￿Y has taken knrtsge oftr* opkn Section 398 of the Companies Ad 2006 not to
bl In¢(xn•
Donati￿ irwme, legaoes and grfts are recognised there15 entlik￿ to the fwxls. of receipt arKI the
fundrwing events recognised in the month the event occws.
d interest Is IndLwled the amtyjrt ￿ be rneasu￿ relsaw. Internst ino)me is recognised using the
ably and the charfty has ￿ntrol +yrfer Ilem. Far vakn kn d*ermind cm ts b3si$ of the Va￿￿ ol thè gift to the
c) Fund accounllng
Restricted funds are siw io speofr by dorm as to h(Yw may be u9ed. The ￿J￿$e5 arKt uses ofth?
reslricted fund8 are set OLrt in the rth to the ac¢(yJiis.
13-

WESSEX CARDIAC TRUST
NOTES TO THE Accoupifs (CONTINUED>
FOR THE PERIOD ENDING 31 DECEMBER 2023
d) Expgndlknrfj •nd VAT
Expenditurn is a¢wuntad ffx on an ac¢nJals ba818 4*wgad aptnsts the cost c4tewy M rdats8 to. Dlrect dwritab
grants are rwnJsed as exp•nthure ¥th•n a IW or con81nth obfjgtiti￿ to make grat)ts out of exb8ting fund¥ haB
been occeptsd and apwo¥ed by the tru8tee8. Cc¥nftitmeth outs￿Ing at the balan¢8 sheet date are included within
creditors.
through ¥gle of merc￿r￿*1n9 and fundTrisNwJ ¢￿rtI.
Support ￿•ts Inchmle (xntr#l costs irwred. Wlw• p￿th, these been dwecuy atth)Lrt•d to a parttvjar advlty.
Illhere the ¢>)sts ore not obl8 to be altrlyAed dtr•cUy. ltr￿ have bwi alocal•d to CO￿ cthgoth on • conil8tent
•) op•r￿Ing IM•
The d￿rity da¥¥ine8 the k••0 of eq￿￿1￿1 lea•eJ. th• to tho •qUI￿￿nt remoln8 th•
1088or and rental dwrges are Char￿ on a strabght IIM batts tem of the la•M. Tho •qulpmant Is le￿•C•d
every S yearn, whll* the eCor￿Mk Ile for equlfv 10 yew
n Tanglble fixed •M•t8
on a Jtr•lght Iln• a8 fotkThbs'.
Freehold bj1￿[r&S
C¢)mput•r equlpment
Fumlture and tmn
0.5% on ia)•t
26% M ¢ost
g) Flx•d a•••t In¥Mtm•nts
LIBted Invethients are InclLthd at dolkw ai bl1w￿ th•ot d•to. kny g￿n or Io•• f)n rnv•lu•kn l•
Inve8knents In subsltharfes we measurnd at c(Ai Its• Mnpthth)L
h) 8tock
Sts¢k l• Indud•d at the ofco* ond rnt r••habkn
l) Debtorn
valuod at th• amount prykl.
J) Bank and c••h In hand
Cgsh •t b•nk In Inchthi ¢•th •￿1 •hryt l•mi Iq￿d • lhort Thwturlly of1•￿ th•n 3
k) Cr•dltov• and provl•lon•
Crethlorn ￿ provi￿¢￿ are r•cowlMd the (*wity r•wMlng from a p•81 went that wlll
probabty re￿￿ In Ihe paynwnt to 8 Ihird paty WKI the an)wrt to setue Ihe Obligati￿ can be measured relw.
Taxatlon
m) Pemlo
nl SlgnllkaAtJudgthii•nts and accowthw a8llm•t•B
14-

WESSEX CARDIAC TRUST
NOTES TO THE AccouKfs (CONTINUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
summary •n•ty818 for d¢)natod Incom•
Unre8trlGtsd RoStrf¢tsd Endowmont
funds
Funds
Totsl
2023
Total
2022
Donallon8 •nd1og•d
Donatlons and glfts
Le￿claS
17T.095
118,783
135,185
312,280
118,783
128,359
57.256
295,878
135,185
431,063
183.815
Costs ol g•n•ratlng donatlon In¢omo
Donatlon costs
Support CO818 {8ee note 91
169,948
47,415
169.948
47,416
109,051
32.024
217.383
217,383
141,575
Not donatk*n•
135 185
213700
Summiry analy•l• for oth•r tradlng •ctlvlil
Merch•ndl•• Fundrnl•lng Trndlng
Incom•
Total
2023
Total
2022
In¢om• fmm oth•i tr•dlng •¢tl¥ltl•8
311781
Fundr•hlng tradlng ¢o•l•
Cost of goods
Staglng events
Support (8•e not• 9)
3.638
3,956
7,692
231,768
26.341
2,634
125,289
17,791
231,788
26,341
3,638
258.107
3,958
206,699
145,694
N•t other ￿dIry1 •thltl••
837
Of the £320,536 InMmo, £299,78212022: £198,017) wa8 chvged to unrastrfcted fvnds arKI £20.754 (2022.. £8,824)
to re6trkted fiThlB.
All of th• £285.899 exp8ndliure {2022'. £145,694) wa¥ ¢h8rgod to unr08tr1ctod fund8.
Inmme from charltabl• acll¥ltl•8
2023
2022
Patknt 8UPPOrt 8•Thfjca8
U8e of Hgartbeat House16 free. wlth the exe*ptton of a koy deposit chargo and w of laundry 8orkn. l•
Ind￿1•d In pollent 8UPPOrt Inc4Mne.
1S.

WESSEX CARDIAC TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
Inv•8lmont In￿m0
2022
Bank Intere8t recetvable
Inteiest from fixed Interest 8ecuriile8
Dlvidend Income
8,633
3,986
24,218
461
2.351
11,312
36,837
14.113
Olh•r In¢om•
2023
2022
Grant Incomg
7.000
Exp•ndltyr• on charltabl• actlvttl
Educatl¢)n Pr•v•nllon Trnatment
and tralnlng
and ptttlènt
2023
2022
Direct costs {¥ee nok 81
Grants to Indivlduals
Grants to Insthutsons
GovgmarKe costs (see note 9)
SupFQrt costs (see note 91
119,319
119.319
225
109841
39,781
31.610
60,559
1.491
33,015
25,592
21.348
225
18.611
3.978
10.$36
64,705
26,125
27,847
10,537
10,$37
33.350
83.198
183,828
300 376
142,005
All grants for tralnlng and medkal equlpment In the year were to Instltuilon8 In p8rtkular Souihampkn General
Hospital £109.44112022: £30.4631 and the rem8lndér were to inrfwidual$.
Of the £300,376 expendliure. £131,148 {2022'. £135,971) charged to unrestrlctad funds, £169,228 12022:
£4,377) to restricted funds and £0 {2￿22.. £543) to end¢y*rnt funds.
Analysls of dlroGt Go¥ts on ¢h•rftablo aGUvlUo9
Pallgnt
8UPPOrt
2023
2022
Heartbeat Ho￿e wnning costs
Heartbeat frk)LAe em￿OyMent costs
Heartbeat Hou8e depreclallon
57.964
56,121
5,234
57,914
56,121
6334
25.124
30.201
5,234
119.319
119,319
60,559
Heartbeal Hou8e has 25 bedrooms, comfortth lounge area5 arKI home from h¢)me f•¢ilitie$ for relatNe8 of Wients
undergoing trealment kn the Wessex Cardiac Unlt.
16.

WESSEX CARDIAC TRUST
NOTES TO THE ACCOUNTS {CONTINUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
AnalyAts of gov•rnance and wpport colts
Th• Tru$t Inltlally kl8nlfi•8 th• cost• ol Its 6￿Port lunctEon8 and klentMe8 those costs whlch relate lo the
goveman￿ fun¢tlon. Support aro apportiongd separately between the key charllable acllvltle8.
Gen•rnl G¢)vern•n¢o
support
funGtk)n
Total
2023
Total
2022
8010rfé8 and related co8t8
IT and equipment
Insurance
Tralnlng and staff davalopmtnt
General office co8ts
Do￿￿$110n ar#1 d$po8al of 0800ts
Bank charges
Legal and profa88loMI fa••
Audlt fee8
Cornullancy fea8
TNstee meetlng
30,794
16,246
3,307
920
13,750
27,918
2,949
33,990
41.153
13.031
2.186
18,248
3,307
920
13,750
27,916
2,949
2,491
3,339
9,274
169
8.051
19,329
2,545
2,491
3.31x1
9,274
189
5.790
14
147
10 Not Ineom•l l•xp•ndlturn) for th• ￿•1
2023
2022
Thls Is stat•d after ¢*orglng.'
Opraung le8888- equ1￿nt
Dopre¢ldon
L088 on dlsposal of fixed a88ets
Audllorf8 remunerallon
Account8n¢y fo08
Legal and profe881onal fèes
873
24,583
32,776
374
39
26
882
11 AMly•h ol staff ¢o•t• and tru•ts? rnmunerallon and ?xpon•o•
2023
2022
Salartes and wag88
So¢lal 8ecurfty costs
Pen8lon Costs
329,878
24,812
4142
207,699
14,642
2,385
224 725
Two member8 of 8t8ff h8d emoI￿nents between £eo,000. £70,000 (2022: 11. Ths average number of employees
durfng the wiod vrns 7 (2022.. 7).
There were no tNste8$' r￿￿neratIOn LY othar benofil$ fw th• pedod12022.' £nll).
The Ingolng and OLrtgolng thief exeGuli¥e offi¢erf$ totsl employee benefit8 for the porlod wern £112.728 (2022:
£74.867}. We pald a lem￿naknn payrnent of £33,9TI durlng the pwknd.
17.

WESSEX CARDIAC TRUST
NOTES TO THE ACCOUNTS {CONTINUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
12 T•nglble fixed •88ets
Land and
bulldlng8
Computsr
Iqulpment
Furnlturo
and flttlngs
Totsl
2023
Cost
Al 1 O￿Ober 2022
Additions
Disposals
1.522.608
20,711
500
(148}
148,530
2.521
1,691,850
3,021
(7481
At 31 December 2023
20,463
151,051
1.694.123
Depreclatlon
At 1 Octobw 2022
Charge for the year
Eliminated on disposa
325,202
9.204
16,519
1.919
{374)
24,386
32.776
(374
21,653
At 31 D•comb•r 2023
334,406
18.064
104,317
466.788
Net Book Valug
At 31 D8¢wnber 2023
1.188,202
2,399
46,734
1,237.336
At 30 September 2022
65.866
13 Flxed a880t Investmgnts
Llsted
Othèr
Inveslments Inv•stm•nts
Total
2023
Marknt value
At 1 O¢tober2022
Addibor
Disposal$
Revaluations
770,840
140.605
(120,853)
21.922
770,842
140,605
1120,8531
21.922
At 31 tlecembgr 2023
812 514
81
Inv¢•knenls at falr valu• conykne:
2023
2022
UK Fixed Interest
Overseas Flxed Interest
UK Equities
European Equlttes
NoJ1h Amerlcan Ewlles
Far E051 & Austslaslan Equlll8s
Intematlonal Equities
UK Pwopety
Emerglng Ecor#)mias
temdve Assets
Cash held for investment purp08es
102.769
187,550
9B.563
16.721
79,187
16.994
69,408
60,259
11,299
150.592
40,184
73,956
173.873
90,609
14.735
73.695
15,486
72,184
148,722
51,236
81
614 770 840
18-

WESSEX CARDIAC TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
13 Flx•d •88et Invo8¢mènts contlnu¢d
Other Inve8tm8nts are measured at C081 le83 IMpalm￿tt on ba*s IP4t ttw Wr￿nt shares in ￿litIeS
that are not publicly traded arKI the falr ¥alu& wnot clhernryse be measured relk*ly.
Induded in other Investments is 8 lo￿ holdlng in the 0rdir￿ry share capital of We¥8ex Heartb8at Llmlted
regl8ted office addre88 152-154 Tramona Ro8d. Southampton, UK. At the year erKI, tho aggregate capital and
reserves of the company amounted to £2 and profit forthe ygar amounted to £nll.
14 Stock
2023
2022
Merchandlse
15 Debtor8
2023
2022
Trade debtors
Prepayment$ and amed income
13,340
32,840
3,380
42.060
45.440
16 Cr¢dftov8
2023
2022
Trade creditors
Tax arKI 50aal $e¢urity
Other credilors and accruals
Deferrgj income
18,949
12.778
9,221
4162
19.882
5.892
76.465
7.704
109.S43
17 Deferrnd Income
Deferred tr￿QMe comws8s of advance ticket S8185 of events oc¢urrir¥J aft•rtho year end.
2023
Balartce as at 1 Oclober2022
Amount rel•asad to Income eamed from CharItab￿ acllvllles
AM0￿ deferred in period
7,704
17,704)
4,162
Balance as at 31 De¢emter 2023
4.162

WESSEX CARDIAC TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
18 Anaty8h of n•t aM•ts b•t¥M•n fvnds
Totsl
2023
fund#
Tanglblo Ilxed a8•¢t•
1nv08tm￿ts
Current a88ets
Cffjdltors
1237.335
812.516
5W,919
145.110)
1,237.336
812,616
674.201
83282
Tot•1
2022
nd•
lund•
fund•
TangiiN• fixed 488el•
Inv¢8tmonts
Current a88ets
CrodEtorn
1,287.464
7TO,842
680.1W2
(109.5431
1,267,484
770,842
708.828
(109.5431
28.636
28.638
2 635 $91

WESSEX CARDIAC TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
19 Endowmentfundj. pr•vknu• y￿r
Balan¢0 In¢omlw R••ourco• Tran•f•rn Balanco
1.10.21
r••ourco8 •xpendod
30.9.22
The Heartb••t Edu(xUon ￿rKI
$43
543
TNS fwml 18 to b& u•ed for FKovldlng edu￿￿On gr￿ that meet tho oblec￿Ve5 of ch8rfty. The ortglnal cwal wa•
to b8 Invested, and Intern81 used to wovld8 thfj￿ grants. How8v8r, duo to very l¢w Intsre$t rate•. 8nd In order to
meet the need• of the grant clalms for educatton. the TTU8t808 havo agraad wlth thg 0￿9￿nal b•nefador th•t the
orfglnal ca￿1 may be u8oil In ord•r to provSdo gran
20 An11￿kn of charltsbl• ￿nd8
B*l*nc•
1.10.22
Incixnlng Regour¢oB G•ln•lloBw B•knnc•
rn•our¢M •xp•nd•d TMn#f•rn
31.1123
Unrnotrlct•d fund•
G•n•r•l fund
614210
2 016 660
Rg•trl¢tsd fund•
MRI lund
Heartb￿t Houm fund
He8rt F•llure Unlt fund
3D Prtntsr •pp•al
H••lthy Llvlng Centre APW
Paedlatrtc P•llLg1fv• Cllnlc•l Nurn• •ppoal
Prehab pllot
Expl4ln my procedure app•41
Cardlac YoLrth Worker •ppeal
Wlrele88 HD H••dcAm •pwl
42
25,313
46
79,723
{88,83n
{3,299)
{4,002)
38,300
2,245
(11,828)
82,414
20
248
46,084
257
237
2,228
(1,250)
20
12,500)
(44,658)
119,200)
120,3941
18.5401
45,908
18,084
7.979
6.S26
12,415
15
AMty•l• rf charllablo pw•vlou• year
B•lafi¢•
1.10.21
Incomlng R•80¥￿￿ G•In￿ lo•M• B•l•nc•
ro•our¢M •xp•nd•d
30.9.22
Unrn•trkt•d
Gen¢ral fund
2 721207
2 608.955
Re¥trlct•d fund•
MRI fund
He8rlbgat Hou88
H•art Fallure Unlt fund
3D Prfnter appaal
Heathy Living Centr• ap￿41
Paedialric Palllallve Cllnlcal Nurse •Pp￿1
Prehab pilot
Explaln my procedure
42
5.300
42
26,313
23.100
(3,087)
14.164
187
255
(14,1841
237
2,228
{1,2501
20
1,973
{1.2501
20
4.33
14,164
-21.

WESSEX CARDIAC TRUST
NOTES TO THE Accouwfs (CONTINUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
20 Analy81$ of charl1ab￿ fund• ¢onllnu•d
MRI fund
This Is to be used forlhe puw of re8•wch Into MRI and the acquisition of r¢lated equipnkrt
H￿rtbfrat H¢)u80 lund
Used for the general purp08e8. malntenance ar#1 Improvement of buikling¥ aThJ tsGilities of HeortW House.
Heart Fallure Unltfund
Thls Is to be u8e(I for the Heart Fallurn Unm and Improve heart fallwe ser4ke In communtty.
3D printer ￿uIpment *iN allcy•V surgeorn to get an axurate 30 prfnt•d model of a patient's heart before ¥LYgery.
gmng a(Idibonal insights for corwtive surgery and Improving peace of mlnd to patlents and thelr famllles.
Hulthy Llvlng C•fi￿ *pp••l flw
We woukl like to build a Healthy Living Centre for prevention, prehabTlltation (fft for surgery) and rehabilrtation of
cardiovascular dlsea¥e, to indude co￿U￿atron rooms, gymnaslum, wofessional kltchen, changlng nJom8 and office8,
w6th access to fitness, nutrltton and well being professi¢)nais.
Poedlatrlc Palllatlve Cllnlc•l Nurno ap￿1 fund
The Paeiliatrlc Polliative Clinical Nurse Speclalist vlll enhance the Pat￿nt and famity exp8rignc8 of those 7Mlh life
lthnhlng condlttons wi probryding more acco88 to support from the Paedlalrfc PallIati￿ Care Team.
Prnhab pllot
To demonstrate relationship belween cardiova5cuFar fitness and perioperative ￿su11$ follo%%4ng ￿rdIa¢ suryery.
The OLrt¢omes will be used to define the Se￿iCe delivery forthe Heathy Living Centr8.
Explaln my proGqdure
Undergoing heart surgery (*n be a daunting time for pattents, wrylh 80 mary questions being asked about their wdia
Joumey. Explain my procedure vKleos are de8lgned for the pthnt and thelr famly member¥ to watch as many times
as needed, In the comfort of thetr home.
Cardlac Youth Workor In 8llPPOrt of Psychologlcal neod¥
Depressi¢M and anxiety are more common among young peO￿e with cardth1as￿1ar dt8ease can worsen thy81cal
outwnes. Many patients report being unable to access support after a dIagr￿s18. Thls Is a dedicaied seNce
supporting yourvJ peoplè aged 11-25 years, a time we know for all young people living with a lon*tem Iwlth
conditlon Is partlcularfy challenging, especialiy for those with congenltal heart disea8e.
Wlrel6M HD Hoadcam app•al
CorKJenftal heart surgery is technically demandlng, and Its tralnlng18 extreme￿ complex and challenging. Thls state of
the art headcam ￿11 allow us to record the magnlfled sight of the Surgeon and aNow everyone to follow the case step
by step. and can be recorded for a re8earch and education pUrpc￿.

WESSEX CARDIAC TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDING 31 DECEMBER 2023
21 Commllm•Dts und•r oporallng10•8••
At 31 Decemb8r 2023 the trust had total fvtur8 commltsnenls under norrtAncellab18 operatlng lea￿$ as lollow8:
2023
2022
Explry dale:
Wlthln one year
706
673
22 Rol•tsd ￿r(la¥
Mr C 14lorrfs, • Iru8tee, Is •180 • p8rther of Parfs Smlth LLP. Ourfng th8 perlod the ChA￿ty PAld Porfs Smllh LLP for
legal •er4lces amounllng to £3,17312022: £nll). All transathn8 wero m8dè on an ami'$18ngth b•sl8. At th& yoar end
Énll (2022.. Enlll w•• out•tandlng.
Jdng tho yeortho Ch•￿ty recafved donaUon8 from tr￿te8¥ of £1,36512022: £ntl> and event In¢ome of £2,489 {21)22:
£890).
.23-