REGISTERED COMPANY NUMBER: 06339790 (England and Wales) REGJSTERED CIIARITY NUMBER: 1120998 CHARITY COMMISSION REPORT OF THE TRUSTEES AND NAUDIT D FINA L STATEME TS THE YEAR ENDED 31 MARCH 2024 FOR THESUS HEART ARy FI CRT Limited LAine Cloge Brigbton East Sussex BNI 6TD
THE SUSSEX HEART CHARrrY CONTENfs OF TIIE FTNANCIAL sfATEMENrs FOR THE YEAR ENDED 31 MARCH 2024 Report of the Trustees I to 7 Independent Examiner's Report Statement of Finanelal Activitles Balance Sheet io Cash Flow Statement li Notes to the Casb Flow Statement l2 iyotes to the FinaDclal Statements 13 to 21
THE SUSSEX HEART CHARvrY REPORT OF THE TRUSTEKS FOR THE YEAR EIYDED 31 MARCH 2024 The trustees wbo are also direcloTs of the charity for the purtx)ses of the Companies Act 2006, pres¢nt their report with the fllmncial sLqtements of the Clty for the year ended 31 MaTch 21Y24. The tn]stees have adopted the provisions of Accounting and Reporting by Charities: Statement of RecOnd Practice applicable to chitIeS preparing their accounts in accordance with the Financi Reporting Standard applicable in the UIL and Republic of freland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIvrriES Objectives and aims The company's objects are: la. To be the successor charity to the Charity known as The Briglrton Hcart Support Trust creatsd by Deolaration of Trust on 20 July 1987 and registered as a Charity, nthnbcr 297337, and in particular but without limitation to receive legacies and donations of all kinds therelo" and l.To promote the care, treatment, resuscitation and Tehabllitstion of persons suffering froffl Cardi disease (or from any other medical problerns). 2. fo promote, support, subsidi8e or sponsor the pmvision of projects, facilities or personnel by or through the ¢ardiac services of the University Hospitals Sussex NHS Foundation Trust or any oth¢r Hospital Trust wthin the 8rea of benefLt. 3. To promote or assist in tbe Promotion of public educatio r¢3¢8rcty and publication of the results of any such reseaToh in relation tbereto. 4. To promote and support ¢ommuDity projects for the care, treatnien( resUS¢itatioo aDd rebabilitatiott of Such pqrsons within the areas of Brighton and Hove, East Sussex and West Sussex. The Charity'j Mlssion Building on the achievemeiits of its predecessor, the Charity's missioll now is "tmproving the lives of people with heart ¢ondktions in Su55ex" We work with paliebts and their families, health professionals and the wider Commlty across Sussex to: - Increase awareness of lThrt conditions - Save lives tbrou8b protnoting prevention and early detection of beart disease - Promots advances in treatment and rebabilitatio - Fund acc¢s3 to training, professional d¢veloprneDt and equipment iti hospital and in the community - Support innovative research and new ways of working The Charity and its predecessor ¢harity have made nthjor contributions over more than 30 year8 to the development of the Sussex Cardiac Centre. We aim to Work wlth NHS Cardiac teams acmss the larger NHS Trust that was fornled in 2021, to expand our lillks alld activty with th¢ E&st Su55ex Health¢are NHS Trust and to support prevention and Tehabilitation services in local c0mUni(1¢S.
THE SUSSEX HEART CHARITY IsrERED NUMBER: 06339790 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Review of Activities During the Year 2023124 w&s a year of both change and recognitAI)n. for the chtrity. laying Ihe foundations for future growth. Our long-serving Chief Executiv4 Teny Ay&. retired in June after nearty 30 years nf involvement with the charity. Terry's contribution includes 26 years with the chatity. alongside wlier wodi in the local Cardiac Dep8rtnMIL n]aking up a total of 30 years of service. His Deputy, Matt Denis0 w&s appointe4J &s his successor. In November we were hoDollred lo receive the Kings Award for Voluntary Service (the MBE for charities), recognising the contribution of professional and ]ay tn)stees and VolUlltee over many years. The award was presented by the Lord Lieutenant for E&st Sussex in April 2024. As explained below, the year wag successful An fin01a1 teEms, thanks to l¢gacies received and ¢nergeti¢ fuDdraising. However, our hopes for expanding our cbalitable aclivity wer¢ not realis¢d. The new Chief Executive h&s worked with Trustses to develop new projects and improv¢ kDowledge of the Ch8rÉ(ys potential amons staff of the NHS Trnsts in Sussex, particularly tbe UniVSity Ho4)its]s Suss¢x and the East Sussex NHS Healthcare Trust. 2023124 EDUCATION AIYD PROFE&SIO]YAL DEVELOPMENT BURSARIF We continued to support edu¢ation for Cardiac staff at University Hospitals Sussex NHS Foundation Trnst. This allows the award of a rnaxin]um of £500 per annum per stalymember. During the year we 5UPPQrted NHS staff at a cost to the charity of £9,644 (2022123: £17,837). This reflects a disappoiDti]Jg decliDe in d¢maD(L The low nutllber of bursary applicalions can be attributed in part to the availability of alternatkve flu1ng but more sigllifioantly to the in]mense pressures currently faciDg NHS staff. OngoiDg COVID-19 bacldogs and increased waiting titnes have left staff with little capacity to engage in professional developmeDt opportunities. The re¢ent merger of two Trusts has fjjrther addpd to these ¢haileDge& Syst¢D across sites are still being Inteated. Until this transition is complete and new processes are ftdly operational, buw applicalions are likely to remain low, There is also uncertainty around the NHS staff developthent budgffj both ils size and longevity ar¢ unclear. We have extended this OtT¢r to staff at East Sussex NFIS Healthcare Trust gnd aDticipate ihat in 2020415 CODditions will improve, resulting in increased interest in bursary OppOrtLLtie8. Cours¢s of conferences attended included: - Association for Perioperative Prnctice (AtPP) - Cardiorenal FOtU 2023 - Heart Rhythm Congress 2023 - British Association for Cardiovascu]ar l¥evention alld Rebabilitation (BACPR) - SCPS Annual Congress 2023 . Radiation Protection and QLiality Assurance for Radiology Department - BCCA ATUal Scientific ProgThnme 2023 - Bristol ACHD Course - Britisb Society for Heart Faihre - British & Irish Society for MininM]ty Jnvasive Clac Surgery - Effective Nurse Presrribing in Cardiology - Congress on Perth5ii)n (AGM) - One Together Conference 2023124 AUTOMATED EXTERNAL DEFIBRILLATOR {AED) GRANf AED grant requests com¢ from a vaTiW of sources. incldIng l(d cimmiunity grDUPS, clubs, societies alld local couDciIs. The Sussex Heart Charty enstw¢s that AEDS are ptaced in IoL*ions with direct public CesS, such as con]munity centres, village halls and shopping centr¢s. All AEDS are housed ID UDlock¢d exterior cabinets, accessible 2417, ensuring they are readily available in ¢merg¢ncie&
THE SUSSEX H EART CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTJVES AND ACTIvrriEs As part of each AED grant award, recipients Tecave a comp]itnentary AED familiarisation and basic life support course for up to l O people. This training aims to Jncre&se Djblic confidence in using the devices, leading to quicker response Éimes durtllg cardiac emergencies and improving survival rates. During the year, 9 AEDs (2022r23: 12) We placed at varAous locations acmss susse at a coyt to the charity of £8,670 (2022ll3.. £18,975.02). While fewer AEDS were placed compared to the previo& year. the cost reflects i]nproved stDck management practices. In previous yeat3, the charity ordered each IIED package individually. However, by placing bulk orders ill 2023124, we were able to deploy d¢vices mor¢ efficientty and at a significantly reduced cost. Although the lower number of placements is a slight disappointtnenL OUT improved stock levels and increased awaten¢ss of the projcct are p¢¢t¢d to drive mor¢ plac¢m¢nts in the flltU. AEDS wer¢ placed at the following J(t*ions: - RouNd Hill Soriety -.The Roundhijl Pub - Round Hill Society - Tbe Park Crescent Pub - Highdown Garden Centre - Patcham Memorial Hall . Southwick Ports and Social Club - St Mary Magdal¢n Cburch - Nevill Residents Association - Angmering Alloknents Association - Grattons Indoor Bowls Club 2023124 PATILNT TNFORMATION AND EQUIPMENT Applications for small o come frotn lo¢al bospitals, community projects and cardiac support groups. During the year we spent just over £3,365 (2022123: £5,007). This paid for over 5000 patient infonnation leafiets alld other doounwits prOded alld printed by SHC in coordiDalion with th¢ Cardia¢ and Cardiac Rehabilitation teams at the Royal Sussex County Hospital in BriglLtOD. They Can also be downloaded from the charity's website and the hospital w¢bsit¢. We algo paid for rebabilitatiojj and cardiac njonitoring ¢quiw¢nt at RSCH and the Princess Royal Hospital in Haywards Heafb. Jn 2023 the Cbarity committed £40,000 to finan¢e a Hemosphere Pulmonary Artery rnonitor at the Royal Sussex County Hospital, the cost of wbich is prnyided for in the Accounts, but this otter has not yet been taken up. Public b¢nefit In shaping our objectives for the year and pjamiing our activities. the trustees have con8idered the Charity CommissioD'S guid&nce oll public benefit, incknding the guidance Uknb]ic BenefiL' Rutming A Charity (PB2)'. Volunteers We were very pleased that our volunteer progra was recognised by th¢ Kings Award for Voluntary SeTvices during the year. This rewards th¢ itnPTovemeJrts our volunteer recruittllent efforty with ongoing initiatives such as engagtllg patients during Cardiac Rehabilitation classes and Gollalx)tIng Glosely with hospital staff. While we Colltinue to seek additir)nal voluntc¢ro, our r¢cent ¢tYort5 have yi¢lded promising fftsU1 and we are encouraged by th¢ growing interest and engagetnent.
THE SUSSEX HEART CHARrrY REGIsfERED NUMBEIL. 06339790 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Financial position and Reserves The results for the period are set ollt in the Statemert of Fitwcial ActAVities. Tbe recorded loss of £18,669 incllldeg provisions for commitments to the NHS which have not yet been cla]n] TnteeS have reviewed the financial position aud are satisfied that the ReseTV¢X posilion renmi satisfacty. The Trustees have designated c£260,(M)O to sFecific fimds &s detsil¢d tn thenotes to the Financial Statements. The Trustee3 confinn that tbe accounfs compty with the current stthtory requIrents and fulfil the requirements of the charity's governillg document. In accordance with the Statement of Recommended Practtcc: Accounting by Charities, investn]ents have been shown at market Value. Investment policy and objectiv¢s ring tbe year the Board CODdu¢ted a full tendet for apw)lntn0t of Tnvestsnent Mallagers, Invested fill]ds were transf¢rr¢d from Charles Stanley to Quilter Ch¢vio¢ Stockbrokers on 31 January 2024. The surplus monies arv invested in equities, government alld VlouS other StS as set out in the financial si*ement$. The position is regularly reviewed with Quilter Ch¢viot with wbom the Chlty invostmellts are held in a mwed accounL Re$erYes pollcy Tho Trustees have reviewed the Charity's po]i¢y on Reserves. They o)ntillu¢ to take a reasoned appro to th¢ fllw]cial Stability of the Charity and ensur¢ that it has financial reserves to ¢onliDU¢ its work in the event of temporary falls in income. Havittg oonsidered fijture ¢on)mitDients and the major risks to ivhich the ¢harity is subjeci the Trustees consider tbat the Charity should have at least £250K of reserves over and above those Tequired for committed projects and programm¢s. Th¢ services met by the Charity are prinwily project based and coJ)unilments are therefore short to m¢dium term. The Trustees believe the balance beld is adequare to enable the Charity to continue with the current projeots 4nd will provide furtds fo allow us to respond to applications for and projects. As at 31 March 2024 our free reserves (excluding desi8llated reserves) were £931,618 (2023: £927,048). The balance above our minimum requirem¢nt was due to substantial legacies being re¢eiv¢d during the past 3 years but not yet allocatsd. Vlhile reco19]llg the unpredictable jLe of legacy income, Trustees intend that the balance should reduce over time to a more nornial level. FUTURE PLANS Our objectives for the cothin8 12 months are to grow income as futtdrnising activity and contact with poteijtial donors can be restored to their pre-pandethi¢ levels. We wilj ¢onlinue to offer support for new and it0vative NHS services by purchasing equiptnent, supporting staff trainAng aod professional development and fJnancin8 research which will enbance tbe care of cardiac patients in Svssex. Universlty Hospitals NHS Foundation Tnst, forni¢d ill 2021. is one of the largest NHS trusts in England. It has a worldmqde reputation for excellence in cardiac care and for usi[. pioneering techniques to diagnose and treat heart problems. Building on existing links, the ChaTity will expand our support for iDllOVative cardiac services in the expanded Trust, aims to develop new initiatives with cardia¢ teatlls in the East Suss¢x HealthcaTe NHS Trust and to support preventiv¢ alld rehabilitation services ID the cOJDmIty. STRUCTURE, GOVERNANCE AryD MANAGEMENr Governing document The Sussex Heart Charity is incorpor under1he Comp)IeS Act 1985 as a COMpY limited by guarantee. and is registered as a charity with the Charity Corn10 Its governing document is the Memorandm and Articles ofAssociation dated 10 August 2007.
TH E SUSSEX HEART CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2(f24 STRUCTURE, GOVERNANCE AND MANAGEMENT 'Recruitment and appointment of new trustees and sta The number of Directors shal] be not le&s than tltree but (unless otherwise detennined by ordinary resolution) shall not b¢ subject to any maxitnutn. The charity may, by ordinary resolution - Appoint a person who is willing to act to be a Director, and - Detern)ine the period for which any additiona] Director is to hold office The charity is governed by the lernis of its Memorandutn and Articles of Association. Appointment of Trn5tees.' Trustees are a tnixtutt of doctors and surgeons connected with the Cardiac units of the Brighton and Suss¢x Univ¢rsity Hospitals NHS Trust, pwsons pr¢viously ¢onncd¢d and lay Tnkn appointed direcdy by the charity. REFERENCE AND ADMII¥41STRATIVE DETATts Registered Company number 06339790 (England aDd Wale5) Reglstered Charlty number 1120998 Reglstered office Southpoint 8 Paston Place BriglLton East Su55ex BN2 IHA Trustees Mrs A V Brinkhurst D R P Fraser A P Gomes DrELHoga JKPaln P D M Freeman (Char) DRScott Dr M J Tomlinson DrTEManll Company Secretary M P Denison Independent Examiner Christopher Rob¢rt Tyler FCA DChA FC]E FI CRT Limited Flat 24 Wellingtonia Court Laille Close Brighton East Sussex BNI 6TD Solicitors D M H Stallard Gainsborough House P¢gler Way Crawley West Sllssex RHII 7FZ
THE SUSSEX HEART CHARrrY REPORT OF THE TRUSTEES FOR THE YEAR £IYDED 3J MARCH 2024 REFERENCE AND ADMINTSTRATIVE DETAIts Investment Brokers To 31 January 2024 Cbarles Stanley & Co Litnited 55 Bishopsgate London EC2N 3AS Frnm l February 2024 Quilter Cheviot Senator House 85 Queen Victoria Streel London BC4V 4AB Bankers Prin¢ipal BaDker.s; National Westminster Bank PIC Unit 40 56 Churchill Squar¢ Bri8lLton East Sus&¢x BNI 2ES Other Bankers: Metro BaDk PIC tSB Bank Pl Barclays Bank UK PIC Cambridge & Counties Bank The Cbarity Bank Limited United Trust Bauk Limit¢d Virgill Money Bank STATEMENT OF TRUSTEESt RESPONSIBILITJES The trustees (who are also the directors of The Su&s¢x Heart Charity for th¢ purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in a¢cordanc& with applicable law and United Kingdom Accounting Standards (United Kingdom Genffilty Accepted Accounting Practice). Company law Tequires the trusÉee5 lo prepare fiffanCi StateD for each financial yw which give a true and fair view of the stat¢ of affairs of the rharitabl¢ ¢ompw of the incoming resourcGs and application of resources, including the incotne and expenditure, of the Gharitablè tompw for that perioiL In PrePillg those financial statements, the trustees are required to seleth suitable accoullting policies md t] apptythem consistenty, observe the methods and principle5 in the Charity SORP" llke judgelllents and estimates that are reasojthle and wudenL prepaTe the financial staternents on the going Concern basis unless it is inappropriate tg presume that the charitable company will continue in business. The trnstees aTe responsible for keeping prow accouDting records whi¢h disclose with reasonable accuracy at any time the fll)ancial position of the charitable company and to enable tIKm to ensure that the financial gtatements comply with the Companies Act 2006. They are also Tespornl)le for safeguarding the assets of the charitable Company and hence for taking reasonable steps for the prevention and d¢tcrtion of fraud and other irrylarities. Approved by Order of the board of trustees on....1rthk..... and signed on its behalf by:
THE SUSSEX HEART CHARrrY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 P D M FLeman- Trustee
LNDEPELYDENf ExAMERs REPORT TO TIIE TRUSTEES OF THE SUSSEX HEART CHAIUTY REGISTERED NUMBEIL. 0633ty79D Jndepelldent examiner's report to the of The Heart Charity Cthe Company,) I report to the charity trustees on my en1On of the accounts of the Cornp ftir the year ellded 31 March 2024. Responsibilitie$ and basis of report As the chty'S trustees of the Company (and akn its direc for the purposes of company law) you are responsible for the preparation of the accounts in accordanL% with the rwjren of the Compalltes Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not Tequired to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I rq)ort in Tespect of examinknon of your charity's accouttts as carried out under Section 145 of the Clwilies Act 2Qll (Ihe 2011 ACV). In carrying out my examination I have followed the Directions given by the Charity Comrni&8ion Und Section 145(5) (b) of the 2011 Act. Independent examiner's statement T have cornpl¢ted my examination. I confmn that no have come to my attention in connection with the examination giving me cause lo believe: accounting records were Dol kept in re5pe¢t ofthe CoDwy as required by S¢ction 386 of the 2006 Act; or the a¢¢ounts do not accord with those records. or the accouttts do not con)ply with Ibe accounting requirements of Section 396 of the 2006 Act oth¢r than any requirement that the accounts give a true and fair view whicb is Dot a matter consid¢red as part of an ind¢pElldent ¢xamination' or the accounts have JKtyt been prepared in a¢¢ordance with the OtkOd$ and principles of th¢ Statement of Recommended Practice for accowlting and reporting by charities (applicable to charÉties preparing their accounts iti accordance with tbe FiDan¢ia] Reporting Slandard applicabk in th¢ UK and Republic of Jr¢land (FRS 102)). I have DO concerns and bave come across DQ other ]natters in co]IDe¢tion with the ¢xamiDation to wblch attentlon should be drawn in this report in order lo enable a proper understsThling of ihe ac¢ouDts to be reached. ChTtstopher Robert Tyler FCA DChA FC FI CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BNI 6TD
' THE SUSSEX HEART CHARITY STATEIVIENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 21124 2024 Total funds 2023 Total funds Unrestrlcted Restrickd INCOME AND EM)OWMENTS FROM Donations ahd legacies 121.283 4.0(X) 125,283 41,515 Charitable activities Cardiac Care 5,000 5,000 5,000 Other trading activities Jnvesthent income 12.196 24.181 12,196 24,181 30,703 17,922 Total 162,660 166,660 95,140 ÈXPENDrruRE ON Raising fullds 50,095 50,095 43,638 Charltable activltles ardiac Care 144,599 4,000 148,599 138,030 Total 194,694 198,694 181,668 Ntt gains/(losseS) on investtnents 13,365 13,365 (63,817) NET INCOME/(ÈXPENDITURE) (18,669) (18,669) (150,345) RECONC]LTATION OF FUNDS Total funds brought fOrd 1210,954 1,210,954 1,361,299 TOTAL FUNDS CARRiED FORWARD 1,192,285 1,192,285 1,210,9S4
THE SUSSEX HEART CHARtTY BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total fimds FIXED ASSETS Investments 15 676.347 676,347 939,979 CURRENT ASSETS Debtors Cash at bat)k 16 81.116 491,825 81,116 491,825 161,007 142,076 572941 572,941 303.083 CREDITORS Amounts falling due within one y¢8r 17 (57.003) (57,003) (32,108) ET CURRENT ASSETS 515,938 515,938 27Q,975 TOTAL ASSETS LESS CURREIYT LIABILrtlES 1.192,285 1,192,285 1,210,954 NÉT ASSWTS 1,192,285 1,192,285 1,210,954 trUM)S Unrestrictsd ndS 18 1,192,285 1,210,954 TOTAL FUNDS 1,192,285 1,210,954 Th¢ ¢lwitable cothpany is entitled Éo exemptioji from audit under Section 477 of the Companies Act 2006 for the ar ended 31. March 2024. The members have tLOt required the ¢ompany to obtsin an audit of its fancial statementg for the year ¢nded 31 Mar¢h 2024 in accordance with Se¢tion 476 of the Companies Act 2006. The trustees acknowledge theirresponsibilities for ensuring that the chaTitable co]Dpany keeps &COUDting records that ¢omply with Sections 386 and 387 of the Compallies Act 2006 and preparing financial statemenls which give a true wd fair vièw of the state of affairs of the charitable company ag at the end of each financial year of its surplus or deficit for each financial year in accordance with the requirements of Sertions 394 and 395 and which Otherwi comply with the Tgquirements of the Companies Act 2006 relating to fitw]ciaJ stalcment4 so far aq applicable to the charitable wmpany. (b) These financial statements have been PTq)ared in acc(thL% with the pmvision5 applicable to charitable companies subject to the srnall companies reginie. The flllallcial statements were approved by the Board of TnteeS and authwised for issue 8nd wffe signed on its bdmlf by.- on P D M Freeman - TrStee
THE SUSSEX HEART CIIARtTY CASH FLOW STATEIVIENT FOR THE YEIiR ENDED 31 MARCH2024 2024 2023 Notes Cash flows from operating aclivilies Cash generat¢d from operatioR)S 48,571 161,216 Net cash provided by operating activiti 48,571 161,216 Cash flows from investing aetivities Purchase of fixed asset investments Sale of tangible fixed assets Sale of fed asset invesfments Int¢rest rcc¢iv¢d {433,069) (358,155) 150 113,587 17,922 710.066 24,l8l Net ¢ash provided by/(used ill) investing acliviti&s 301,178 (226,496) change.in Cash and eash equlvalents h) the reporting perlod Cash and cash equlvalellt& at tlte beglnnlng of the reporting perlod 349,749 (65,280) 142,076 207,356 Cash and cash equlvalents at the ehd Df the reportlng period 491,825 142,076
'THE SUSSEX HEART CHARrrY NOTES TO THE CASH FLOW sfATEMEiYr FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET EXPENDrruRE TO PIET CASH FIA)W FROM OPERATING ACTIVITIES 2024 2023 Net expenditvre for the reporting period (as per the Statement of Financial Activities) Adjustments for: (Gainylosses on investtnents ss on disposal of fed assets Interest received Decrease in debtors Increase in Creditors {18.669) (150,345) (13,365) 63,817 176 (17,922) 256,399 9,091 (24,181) 79,891 24,895 Net cash provided by op¢ralions 48,571 161,216 ANALYSIS OF CHANGES IN NET FUIYDS At l.4.23 Cosh flow At 31.3.24 Net cash Cash at bank 142,070 349,749 491,825 142,076 349,749 491,825 Total 142,076 349,749 491,825 The nots forn part of these financial statements
THE SUSSEX HEART CHARITY NOTES TO THE FINAIYCIAL STATEMENrs FOR THE YEAR ENDED 31 TrIARCH 2024 AccoUWfG POLlaES Basis of preparing the finaneial statemei The fllmncial statements of the charitable compw. which is a public benefit entity under FRS102, have been prepared in accordallce with the Charities SORP (FRS102)'Accounting and Reporting by c1t]es. Statement of ReconThiended Prdctice applicable to charities preparing their accou1 with the Financial Reporting Standard applicable in the UK and Republj¢ of Jreland (FRS102) (effectiv¢ I lanuary 2019),, Financial Reporting Standard FRS102 'Tbe Financial RerM)rting StaDdard applicable in the UK and RepbliC of Ireland, and the Companies Act 2006. The financia] statements have been prepad under the historical cost convention. The accounts are prepared in sterlin& which is the fiMttl cwrency of the charity. Monetary amounts in these financial statements are rounded to the nearcst £ The trustsesldirectors consider thal Ihere are no mat¢rial UDC¢rtainties about the company's abiltty to CODtinue as a going concern. Ineome Incoming resources are accounted for as follows: Donations, lega¢i¢s aDd fimdraising. On a receivable basis when Capable of fujancial measurejnent and as soon as the Charity IS Ilotified of its legal entitlement and the anjount due is quatstified with reasonable cettainty. Investrnent Tn¢ome On a re¢¢ivable baFis. Expendlture Liabilities are rO¢olsed as expendi¢ure including Arrecoverable VAT as soon as there is a legal or constructive obligation committing the charity to that expenditure. il is probable tbal a transfer of economic benefits will be required in settIent and the amount of the obligation caD be measured reliably, Expenditure is COuntsd for on an accruals basis artd has been ¢lassthed under headings that awegale &ll cost related to the catsgory. Where costs Cannot be directly attnkn 10 particular headings they have been allocated to atttivities on a basis consistent with the use of resources. The categories of expendinre are as follows: a).Charitable expenditure comwises of all expenditure directly relating to the obje¢tives of the charity. b).Costs of generating fimds comprise the costs iocured in publicity and fiaiSIng, along with the inveslment brokerJ charges. c).Support ¢ost5 include goven)ance costs and relate to the Margement of the charity's funds, OTganisational adtninistratAon and compljance with statutory requiremeAts. Tangible fixed asset5 and depreciation Depreciation is provided to writ¢ off thc c05É ofthe assets over their use[ lives as follows . Motor Vehicles - 25 /0 pa (TeducingbaiaDce basis). Computers - 33.330/0 pa (str8igbt line basis) Tangible fixed assets w]ng mote than £5 are caphalise41 and included at cost including any incidental expenses of acquisitio The purchase of highly Sp1a]iSed wipment forn part of the Charity's progamEne and is fidea out of income. The trustees consits that the cost of such eqllip should be ltien off in the year of purchase.
' THE SUSSEX HEART CHARrrY NOTES TO THE FINANCIAL STATEMKKfS- continued FOR THE YEAR ENDED 31 MARCH 2024 ACcourING POIJCIES- continued Taxation The charity is considered to p&ss the tests set out in ParngTaph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a thtable compwry for UK Corporation Tax purposes. Accordingly the charity IS potentially exempt from thation ID resye. ct of income or capital gains received within categories covered by Cbaptsr 3 Part I I Corporation Tax Act 2010 or SeGtion 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied £xclusivety to charitable PUryOAes. Fund aecounting Unrestricted fvnds can be wed in accordance with the clwilable objectives at the discTetion of the tNstees. Restricted funds can only be used forparticular restricted purposes witlun the obj¢ct$ of th¢ Charity. Restrictions aris¢ when specified by the donoT or when funds arc rnised for particular restricted purposes. Designated funds comprise of UDrestri¢ted funds whicb bave beell set aside at the di5¢retion of th¢ trustees for gp¢¢ifi¢ purpose. Furtber explanation of the nature aDd puYp)s¢ of each fund is iluded in the notes to the fJnanGial statements. Investm¢nts Investments beld as fixed assets are shown al Dwkel value in accordan¢e with tbe provisions of the Statement of Recomnwided Practi¢¢ 'Accounting by Charities,. Any gaiti or loss on revahwtion is taken to the Stat¢meDt of Financial Activities. DONATIONS AND LÈGACIES 2024 2023 Donations L¢8acies 5fj,869 68.414 43,677 (2,162) 12S,283 41,515 OTHER TRADING ACTinEs 2024 2023 Fundraising evenES 12.196 30,703 INVESTMENT IIYCOME 2024 2023 Divkdends and Illterest 24,181 17,922
THE SUSSEX HEART CHARITY NOTES TO THE FINANCIAL STATEMENTS-. continued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABII AcfiviTIES 2024 2023 HNItiC - Employment Allowance 5,000 5,000 RAISING FUNDS Raising donations and legacies 2024 2023 Staff costs Fulldraising Costs 39,271 3,218 33,678 2,593 42,489 36,271 Investment mallag¢mellt ¢osts 2024 2023 Portfolio mana8etrAent 7,606 7,367 Aggre¥at¢ amounts 5Q,095 43,638 CHARITABLE ACTIVITJES COSTS Direct Costs (see note 8) Support Costs (see note 9) Totals Cardiac Car¥ 70,998 77,601 148,599 DIRECT COSTS OF CHAIUTABLE ACTIVITIES 2024 2023 Grants, Bursaries and conm]]]ty Projccts Motor and Travel Insurance Loss on sale of assels 67,742 1,171 2,085 38.575 901 2,331 176 70,998 41,983
THE SUSSEX HEART CHARrrY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS Governance costs Totals Cardiac Care 73,697 3.904 77.601 Support costs, included in the above. aTe as follows: 2024 C8rdiac Care 2023 Total activities Salaries Office Costs (incl Telephone) Independent Exatninatio Legal and Bookke¢ping 61,393 12,304 1.860 2,044 80,021 12,585 1,800 1,641 77,601 96,D47 10. NEf INCOMEI(EXPENDITURE) Net In¢Dmel(expenditLJre) is slated after ¢hargiDW(crediting): 2024 2023 Independent Examition Deficit on disposal of fuLed assets 1,860 1,800 176 11. TRUSTEESI REMUNEUTION AND BENEs There were no trustees, remuDeratAon or other benefits for the year ended 31 March 2024 nor for the year ¢nd¢d 31 March 2023. Trustees, eipenses There were DO tnte¢s, expense$ paid for theyeat ended 31 Marcb 2024 nor for tELe year ended 31 March 2023. 12. STAFF COSTS Staff costs consist of the followin 2024 2023 Seconded staff from TrIHS Wages and Salaries Social Security Costs Pension Costs 14,384 76.000 7.977 2,605 62,320 45,000 5,217 1,163 Average Nutnber of Employees The charity considers its kcy rn8nagement per1t0 be the directi who Teceive no TemuneTation. No employee received emohttnents in excw of £60.(X)0 (2023 llODe).
' SUSSEX HEART CIIARrrY NOTES TO THE Fll¥ANCIAL STATEMEIIIS- eontinued FOR THE YEAR ENDED 31 MARCH 21124 13. COMPARATIVES FOR THE SfATEMEIYT OF FII¥4ANCLIL ACTIVITIES (2023) Unrestricted Restricted fi]llds Total fidS INCOME AND ENDOWMENfS FROM Donations and legacies 41,515 41,515 Charitsble activities Cardiac Care 5.(M)O 5,000 Other trading activities Tnvestroent income 30,703 17,922 30,703 17,922 Total 95,140 95,140 EXPENDrruRE OV4 Raising funds 43,638 43,638 Charitable activities CardiaL Care l37,03Q 1,000 138,030 Total 180,668 1,000 181,668 Net gainsl(losses) on investme] (63.817) (63,817) NIT INCOMEI(EXPENDITURE) (149,345) (1,000) (1$0,345) RECONCILL4TTON OFFUNDS Total fiu)ds brought fonvard 1,360,24>9 1,000 1,361,299 TOTAL FUNDS CARRIED FORWARD 1,210,954 1,210,954 14. TANGIBLE FtXED ASSETS Computer equipment COST At l April 2023 and 31 March 2024 4,318 DEPRECIATION At l April 2023 and 31 March 2024 4,318 NET BOOK VALUE At 31 Marrb 2024 At 31 March 2023
' THE SUSSEX HEART CHARITY IYOTES TO THE FINANCIAL STATEMEIYfS- continued FOR THE YEAR ENDED 31 MARCH 2024 15. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l April 2023 Additions Disposals Revaluations 939,979 433,069 (710,066) 13,365 At 31 March 2024 676,347 NET BOOK VALUE At 31 Marcb 2024 676,347 At 31 March 2023 939,979 There were llo Investment assets outside the UL Cost or valuation at 31 March 2024 is reptesented by. Llsted investm¢nts Valuatioll in 2024 676,347 16. DEtsTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Amounts held by brok$ Lesacies receivable Prepallent5 and accn*d incothe 24,234 55,500 1,382 6,625 153,000 1,382 81,116 161,007 17. CREDITORS: AMOUNTS FALLING DUE WITWN ONE YEAR 2024 2023 Accrued expenses 57,003 32,108
'THE SUSSEX HEART CHARITY NOTES TO THE FINANCIAL STATEMEiYf6- continued FOR THE YEIIR ENDED 31 MARCH 2024 18. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fulld Designated Fund- Major Equipment Grants Designated Fund - Education Grants/Bursaries Designated Fund - Small Equipmenl Grants Designated Fund- Automated Externa] D¢fibriKlator (AED) Grants Designated Fund- Research Proje¢ts Des1&t¢d Fulld . Projects Fund 927,048 4.570 931,618 50,000 50,000 47,455 35,523 (9,644) (3,365) 37,811 32,158 20.92S 30,(K)O ioo,(N)o (8,670) 12,258 30,000 98,440 (1,560) 1210.954 (18,669) 1,192,285 TOTAL FUNDS 1210,954 (18,669) 1,192,285 Net movement in fLd$, included in the above are as follows: Tncorning resources Resources ¢xpended Gain$ and losses Movement in funds Unr4qtrlcted funds General fund .Designated Fund - Edu¢ation Grants/BursaTies Desismated Fund- Small EquipmeM Gyants Desigmated Fulld- AUrolled External Defibrillator (AED) Grants Designlated Fulld - Projeets Fund 162,660 (171.455) 13,365 4,570 (9,644) (3,365) (9,644) (3,365) (8,67Q) (1,560) (8,670) (I,S60) 162,660 (194,694) 13,365 (18,669) Restricted funds Re-hab Group (4,000) TOTAL FUIYDS 166,660 (198,694) 13,365 (18,669)
THE SUSS£< X HEART CHAIUTY NOTES TO THE FINANCIAL STATEMKiYfS- Continued FOR THE YEAR ENDED 31 MARCH 2024 18. MOVEMENT IN FUNDS- continlled Comparativeg for movement in funds Net m0Vent in fimds Trangfers be1ween funds At 31.3.23 At 1.4.22 unrtrIcted funds General lld Designated Fund- Major Equipment Grants Designated Fund- E(Cation GrantslBursaries Designated Fund - Small Equipment Grajits Designatsd Fund - Autontht¢d External Defibrillator (AED) Grants Designated Fund- Resear¢h Projects Designated Fund- Covid-19 Response Fund DeSiated Fu]Ld - Project5 Fund 976,393 (149,345) loo,000 927,048 50.0(M) 50,000 47,455 35,523 47,455 35,523 20,928 30,000 20,928 30,000 ioo,(M)o l(K),000 (100,000) loo,000 1,360,299 (149J45) 1,210,954 Restrlcted funds Donation for ANP Tean) I,(M)o (1,000) TOTAL FUNDS lJ61299 (150,345) 1,210,954 Comparativ¢ net movement An fuJJd$, included AD the aEKtrve are as follows: Incoming Resources expended Gains and losses Moveitt¢nt ill ndS Unrestrieted funds General fund 95,l40 (180,668) (63,817) (149,345) Restrlcted funds Donation for ANP Team (1,000) (1,000) TOTAL FUNDS 95.140 (181,668) (63,817) (150,345) The restricted funds are as follows: l.Donation specificalty for the AdVallc NuESe Prnctstiow (IINP) tll (2023). 2.Part of a legacy reiVed for1he Re-hab group (2024).
.' THE SUSSEX HEART CHARITY NOTES TO THE F]NANCIAL STATEMENfS- continued FOR THE YEAR ENDED 31 MARCH 21124 19. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. 20. ULTIMATE CONTROLLING PARTY The ultimate controlling parties are the directi. 21. COMPANY LIMrrED BY GUAIIANTEE The Sussex Heart Charity is a clwitable compary. iirnited by guAranttt, registered im England and Wales, 8nd bas no share capital. No on¢ member h&s overall (x)ntrol of Ihe conu)aay. Every member promises, rfthe charty is dissojved iyhile he or she is a men)ber or wlthin twelve llnthS after he or she ceases to be a member, to conlnbute such sum (not exceeding £10) as n]8y be den]allded of him or her towards the payment of d¢bts and liabilities of the conwauy incurredb¢fore he or she c¢ase$ to be a member, and of the costs, charges and expeJ)se5 of windin¥ up. and th¢ adjustment of the ri¥ht of th¢ ¢ontributori¢s among th¢rnselves. Th¢ members of the CODWY may at aby time before, and in expectation o( its dissolution r¢solve that any net assets of the company after a]1 its debts and liabilities have been paid, or provision has been made for them, shall on or b¢fore the dis501ution of the ¢ompany be applied or traDsfeff¢d io any of the following ways: a).Directly for the obje¢ls Dr, b).By transfer to any chwity or ¢harilie5 for purposes similar to the objects. c).To any charity for use for parti¢ular puryy)ses that frdll witbin the objects. The company's registsred number and registered office address ¢an be found in the Legal and Administrative Inforniation, s¢¢tion of the accounts.