REGISTERED COMPANY NUMBER: 06339790 (England and Wales) REGISTERED CHARITY NUMBER: 1120998 CHARITY COMMISSION EPORT OF THE TRUSTEES AND UNAUDIT INANCIAL sfATEMENTS FOR THE YEAR EN RCH 2025 FOR THE HE T CHARITY FI CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BNI 6TD
THE SUSSE EART CHARITY CONTENTSOF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Trustees Independent Examiner's Report Statement ol Finanefial Activities BalaDce Sheet 10 Cash Flow Ststement Notes to the Cash Flow Slattment 12 Notes to the Financial Statements 13 to 20
THE SUSSEX ART CHARITY REGISTERED NUMBER: 06339790 REPORT OF THE TRUSTEES THE YEAR ENDED 31 MAR The trustees who are also directors of ihe charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended J l March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their acwunts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OWECTIVES AND ACTIVITIES Objectives and alms The company's objects are: la. To be the successor charity to the charity known as The Brighton Heart Support Trust created by Declaraiion of Trust on 20 July 1987 and registered as a Charity, number 297337, and in particular but without limitation to receive legacies and donations of all kinds thereto; and l.To promote the care. trealmenL resuscitation and rehabilitation of persons suffering from cardiac disease (or from any other medical problems). 2. To promote, supporL subsidise or sponsor the provision of projects, facilities or personnel by or through the ¢ardia¢ services of th¢ University Hospitals Sussex NHS Foundation Tnt or any other Hospital Trust within the area of benefit. 3. To promote or assist in the promotion of public education, research, and publication of the results of any such res¢ar¢h in relation thereto. 4. To promote and support community projects for the care. treatment, resuscilation and rehabilitation of such persons within the areas of Brighton and Hove. East Sussex and Wesi Sussex. The Charlty's Misslon Building on the achievements of its predecessor, the Charity's mission now is "Improving the lives of people with heart conditions in Sussex" We work with palients and their families, health professionals and the wider community across Sussex to.. - Increase awareness of heart conditions Save lives through promoting prevention and early detection of heart disease Promote advances in treatment and rehabilitation Fund access to trainin& professional development and equipm¢nl in hospital and in the community - Support innovative research and new ways of working The Charity and its predecessor charity have made major contributions over more than 30 years to the development of the Sussex Cardiac Centre. We aim to work with NHS Cardiac teams across the larger NHS Trust that was fornied in 2021, to expand our links and activity with the East Sussex Healthcare NHS Trust and to support prevention and rehabilitation services in local ¢ommunitie5. Page I
THE SUSSEX HEART HA TY REGISTERED NUMBER: 06339790 REPORT OF THE TRUSTEES HE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND A1vITIEs Review of Activities During the Year 2024125 marked a year of renewed focus and delivery, as the charity expanded its core programmes and strengthened engagement with cardiac teams across Sussex. Substantial funding was committed to NHS Cardia¢ services, supporting the adoption of new technology and improving patient pathways. The charity's contribution was formally recognised at a ceremony in April 2024, when the Lord Lieutenant of E&st Sussex presented the Kintys Award for Voluntary Service - the highest honour a voluntary group can receive in the UK. The award recognises the longstanding dedication of our volunteers. In financial ternis. the charity entered the year with strong reserves and rnaintained a stable cash position, despite reporting a small deficit. Significant work was undertaken to improve visibility and engagement with cardiac teams across Sussex. Trustees and stsff worked with University Hospitals Sussex and East Sussex Healthcare NHS Trusts lo better llndersLd local challenges and identify areas where SHC funding could make a meaningful impact. EDUCATION AND PROFESSIONAL DEVELOPMENT BURSARIES Uptake of the charity's bursary scheme continues to be influenced by changing access to professional development funding within the NHS. Applications have gradually declined as limited internal NHS reSoUeS have become available in some areas, with Sussex Heart Charity bursaries now more often used to support opportunities not covered elsewhere or where NHS allocations have been exhausted. Although this has resulted in lower expenditure during the year, it reflects a positive shift in the wider availability of support for cardiac education. The charity will use this period of reduced demand to identify new areas of need - including under-served hospitals, services or disciplines - to ¢nsur¢ the bursary programme continues to reach those who would otherwise miss out on professional development opportunities. In total, £8,870.97 (2023r24: £9,664) was reimbursed to NHS cardiac staff io support attendance at conferences and professional development courses. Each recipient is required to provide feedback on the impact of the conference or course. - EuroACHD 2024 & 2025 - BCSIBANCC Cardiac Nurse Specialist Symposium {2024 & 2025) British Cardiovascular Society {BCS) / British oncolo Society (BCOS) I UCLH Cardio-On¢ology Course - ESC Conference 2024 - British Society for Heart Failure Annual Meeting - Brilish Heart Rhhrn Sessions - AhYthM]a Alliance - Heart Rhythm Updafr 2025 - Cardiorenal Forum - Emerging Leaders Programme - British Cardiovascular Society - Understsnding Cardiology - BACPR Annual Conference - British & Irish Society for Minimally Invasive Cardiac Surgery - LONDON AORTA 2024 - National Cardiac Benchmarking Collaborative (NCBC) 2024 - Genetic Counselling Course BSEIBSE¢ho 2024 Conference - Society for Clini1 Perfusion Scientists (SCPS) AGM and Scienlific Meeting - Perfusion Annual Conference and AGM - BCIS Cardiac Physiologists Catheter Lab Course - SCTS (Society for Cardiothoracic Surgery) Annual Meeting 2025 Although demand still remains below pre-pandemic levels, signs are encouraging and Trustees have agreed to retain the bursary programme for the coming year. AUTOMATED EXTERNAL DEFIBRILLATOR (AED) GRANTS AED grant requests continued to come from a wide range of community groups, sports clubs, housing associations and parish councils. Page 2
THE SU&SEX HEART CHARITY RE IERED NUMBER: 06339790 REPORT OF THE TRUSTEES OR THE YEAR END 31 MARCH 2025 OWECTIVES AND A1VITIEs AII AEDS funded by the charity are placed in publi¢. unlocked Cabinets to ensure 24n access in emergencies. Each grant includes free AED familiarisation and basic life support training for up to t¢n people, helping to build confidence and preparedness in the community. During the year, the charity approved grant requests to support the placement of up to Seven new AEDS across Sussex. Subject to notifications received from grantees confirniing installation. at least flve devices were known to have been installed by year-end, with fvnding also provided for two additional units awaiting completion. Expenditure totalled £14.778 (2023r24: £8,670), covering equipmenL cabinet and tt3ining support to ensure each device is rescue-ready. Our improved ordering system and stock management continue to reduce unit Costs and delivery tirnes. The charity remains committed to ensuring communities can access this life-saving equipment quickly and efficiently. Confirnied or pending installation siles ]lUded. - The Outlook Foundation, Brighton - The Undercliff Café. Rottingdean (Brighton) - Miller Bourne Awhitects, Hove - Hythe Road Residents AEDICPR Group and The Flour Pot Bakery, Fiveways (Brighton) - Worthing Sailing Club, Worthing - Sports Pavilio HandCrn (Mid Sussex)- funding receive(L installation pending - Middleton Esiate. Westmeston (L£wes District)- fimding received, install10n pending NHS GRANTS AND EQUIPMENr Since the year end the charity has made its most significant NHS equipment fimding commitment in recent years, awarding over £140,(M)O to University Hospitals Sussex to purchase and maintain an Endos¢opi¢ Vein Harvesting (EVH) camerd stack for use in cardiac surgery. When implernen this will mark our first major investment in hospital equipment of this a]e since before the COV1D-19 pandemic. This advanced equipment allows vein harvesting with ftwer compli¢a¢ions and faster recovery times. ryresenting a signif1nt improvement to the patient experience. The funding followed a detailed business case, confimtIOn that NHS fimds were unavailable and a commitment frnm the Trust to maintain the quipment over the long temi. Smaller grants were awarded in 202415 under the Cardiac Rehabilitstion Enhancement Fund. which enables staff to quickly request equipment and resou up to £500. New resistance band& rebounders, blood pressure monitors and patient literature were delivered. dramatically improving turnaround times compared to standard NHS procurement. PATIENT INFORMATION AND COMMUNITY PROJE Small grants totalling £1.108 supported patient education and community engagemenL The ¢harity continued to supply pyinted resources co-developed with NHS teams, covering common heart conditions. rehabilitation guidance and emergen¢y preparedness. These materials remain available on our website and on display in clinical settings. RESCUE READY PROGRAMME In August 2024, Sussex Heart Charity launched Rescue Ready. a free MunIty-fOCused initiative delivered in partnership with Pulse South Coast. The programme provides CPR and AED familiari5ation sessions designed to build nfidence and lifesaving skills within local communities. By offering practical training in chest compressions, AED pad placement and shock delivery, R¢5cue Ready aims to rnake every participating gTOUP "rescue readf in the event of a cardiac emergency. Since its introduction, dernand for sessions has stron& with enquiries received from all parts of Sussex - an encouraging SI that the programme is reaching diverse commw)ities and helping to raise awareness of Sussex Heart Charity's work across the region. The charity will continue to promote Rescue Ready as part of its ongoing commithient to improving survival rates from sudden Cardiac arrest through eduL*iorL prepattdness and community engagement. Publle benefil Ln shaping our objectives and planning activities. the Trustees have considered the Charity Commission's guidance on public benefiL including the guidance 'Public benefitr running a charity (PB2)". All activities during the year have supported our primary objective of inyroving cardiac care and outcomes for the public in Sussex.
THE SU&SEX HEARTCHARITY REGISTERED NUMBER: 06339790 REPORT OF THE TRUSTEES FOR THE YEAR 31 MARCH 2025 OBJEcfivES AND ACTIVITIFS Volunteers The charity's volunteer programme, now recognised by the King's Award, remains an essential part of Its operations. We continue to benefit from a small but dedicated team who support fundraising and outreach activities. While we always seek new volunteers, engagement levels have remained steady and the King's Award has helped raise our profjle and credibility. FINANCIAL REVIEW Financial position and Reserves The charity recorded a small net deficit of £l1.148 in the 2024125 financial year (2024 £18,669). Cash at bank increased slightly to £511,964 (2024 £491,825), while inveslment holdings rose to £718,259 (2024 £676,347). Trustees are satisfied that this plamied use of fimds is in line with the charitys mission and reflects the purpose for which much of the legacy income from prior years was received. We have set an internal budget of £230,000 across six funding areas: Major Equipment Grants, AED Grant4 Educatlon Bursaries, Srnall Equipment Grants, Research Projects and the Projects Fund. This internal allocation differs from the designated reserves reported in the accounts, which reflect actual commitments recognised during the following year, including a £112,384 project payinent. Fundraising Income from donations and legacies (£59,152) fell from the exceptionally high figure in 2024 (£125,283). Legacy income is alway5 variable and staff changes had a temporary impact on our fundraising activity. We expect donations 10 return to a more nonnal level in 2025126. Investment policy and objeetlves Following the transition to Quilter Cheviot at ihe end of January 2024, all investments are now managed within a discretionary portfolio. The Board continues to review investment perfonnance regularly. Income generated from investments during the year totalled £32,080 (2024: £24.181). Reserves polley The TteeS aim to maintain unrestricted free reserves of at least £250,000, over and above designated nd& to safeguard core operations and allow rapid response to emerging needs. Ai year-end, free reserves st(x)d ai £951,137 (2024: £931,608) - still above this threshold but with plans to bring them down. The balance remains sufficient to support the charity's work while enabling a gradual reduction of surplus funds through Strategic gTantmaking. FUTURE PLANS Over the next 12 months, the charity will: - Complete the procurement and delivery of the EVH equipment at UHSussex - Maintain and our Cardiac Rehab Enhancement Fund in parmership with NHS Trusts - Review and Promote bursary opportunities with cardiac leads and educators - Strengthen donor communications and begin forn)al planning for legacy development The charity will also continue working with both University Hospithls Sussex and East Sussex Healthcare NHS Trusts to identify high-impact projects that improve cardiac out¢omes and patient experience. STRucfuR[ GOVERNANCE AND MANAGEMENT Governing document The Sussex Heart Charity is incorporated under the Companies Act 1985 as a company limited by guarantee. and is registered as a charity wilh the Charity Commission. Its governing document is the Memorandum and Articles of Association dated 10 August 2007. Page 4
THE SUSSEX HEART ITY REGISTERED NUMBER: 06339790 REPORT OF THE TRUSTEES FOR T YE R ENDED 31 MARCH STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment ofnew Iru$tees and stvdff The number of Directors shall be not less than three but (unless otherwise detennined by ordinary resolution) shall not be subject to any maximum. The charity may. by ordinary resolution - Appoint a person who is willing to act to be a Director; and - Deterniine the period for which any additional Director is to hold olTice The charity is governed by the ternis of its Memorandum and Articles of Association. Trust¢¢s are a mixture of medical professionals connected with the Cardiac units of Ihe UH Sussex Hospitsls NHS Tnt and lay Trustees. All are appointed directly by the charity following open recruitment. Four trustees resigned after long service on the Board, one of whom has sadly died. Two new Trustees were appointed after open competition in June 2025. All new Trustees are offered an induction programme. All Board members are offered updates and training on their responsibilities as Charity Trnstees. REFERENCE AND ADMIIYISTRATIVE DETAILS Reglstered Company number 06339790 (England and Wales) Reglstered Charlty number 1120998 Reglslered offlce Southpoint 8 Paston Place Brighton East Sussex BN2 IHA Trustees Mrs A V Brinkhurst (resigned I1.2.25) D R P Fraser (resigned 4.12.24) A P Gomes Dr E L Hogan J K Palmer (resigned 4.12.24) P D M Freeman (Chair) DRScott Dr M J Tomlinson Dr l E Mann (resigned 24.7.25) J R Williams (appointed 4.6.25) Ms P R Dani¢ls (appointed 10.6.25) Company Secretary M P Denison Independent Ex8mlner Christopher Robert Tyler FCA DChA FCIE FI CRT Lirnited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BNI 6TD Page 5
THE SUSSEX ART CHARITY REGISTERED NUMBER: 06339790 REPORT OF THE TRUSTEES OR THE YEAR ENDED 31 MAR REFERENCE AND ADMINISTRATIVE DETAILS Solieitors D M H Stallard Gainsborough House Pegler Way Crawley West Sussex RHII 7FZ Investment Brokers Quilter Cheviot Senator House 85 Queen Victoria Street London EC4V 4AB Bankers Principal Bankers: National Westminster Bank PIC Unit 40 56 Churchill Square Brighton East Sussex BN12ES Other Bankers: Metro Bank PIC TSB Bank PIC Barclays Bank UK PI Cambridge & Counties Bank The Charity Bank Limited United Trust Bank Limited Virgin Money Bank STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the diT¢ttors of The Sussex Heart Charity for the purposes of Company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the ¢haritable company for that period. In preparing those financial statements, the trustees are required to $ele¢t suitable accounting poli¢ies and then apply them consistently" observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent: prepare the fjnancial stalements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable aceuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charilable company and hence for tsking reasonable steps for the prevention and detection of frdud and other irregularities. Page 6
THE SUSSEX HEART CHARITY REGISTERED NUMBER: 06339790 REPORT OF THE TRUSTEES FOII THE YEAR ENDED 31 MARCH 2025 Approved by order of tlie board of trustees on .&*.-....trA....... and signed on ils behalf by: P D M Freeman - Trustee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SUSSEX HEART CHARITY RECISTERED NUMBER: 06339790 Independent examiner's report to the trustecs of The Sussex Heart Ch#rity ('the Company,) I report to Ihe charity trustees on my examination of the accouiits of the Coiiipi1ny for tlie }'e(ii' ended ) l March ?0?5. Responsibilities #nd basis of report As the charity's trustees of Ihe Coinpany (and also its directors for the purposes of coinpan), law) you are responsible for the preparation of the accounts in accordance wilh the requireinenls of tlie Conipanies Act ?006 ('tlie ?006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited uiider Part 16 of- Ilie 2006 Act and are eljoible for independent examination, I report in respect of Iny exaininalion of >'our charity's accouiils as carried out under Section 145 of the Charities Aci ?0 I i ('Ihe ?0 I l Acl,). In carryin¥J out my examination I have followed tlie Directions given by Ihe Charity Commission under Section 145(5} (b) of the ?0 I l Act. Independent examiner's Statement I have conipleled my examinaiion. I confirn] that no matters have conie 10 my atienlion in conneclion with the examination giving me cause 10 believe: accountino records were noi kept in respect of the Company as required by Section 386 of the ?006 Act: or the accounts do not accord with those records: or the accounts do not comply wilh the accountints requirements of Section J96 of the 2006 Act other than any requirement that the accounts give a true and fair view whicli is not a matter considered as part of an independent examination; or the a¢counts have not been prepared in accordance M'ith ihe methods and principles of the Sialemenl of Recommended Practice for accounting and reportin(J by cliarities (applicable lo cliarilie5 preparingF their accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS I O?)). I have no concerns and have come across no other Inatters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding ol. Ihe accounis 10 be reached. Christopher Robert Tyler FCA DChA FCIE FI CRT Limited Flat ?4 Wellingtonia Court Laine C105e Brighton East Sussex BNI 6TD Dale.. Pagie 8
THE SUSSEX HEARTCHARITY srATEMEwf OF FINANCIAL ACTIVITIES FOR TH EAR ENDED 31 MARCH 202 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 59,192 59,192 125,283 Charitable activities Cardiac Care 5,000 5,000 5.000 Other trdding activities Investment income 22.118 32.080 22,118 32,080 12.196 24,181 Total 118,390 118,390 166,660 EXPENDITURE ON Raising funds 39,063 39.063 50.095 Charitable activities Cardiac Care 103,164 103,164 148,599 Total 142227 142,227 198,694 Net gains on investrAents 12,689 12.689 13,365 NET INCOMEI(EXPENDITURE) (11.148) (11.148) (18,669) RECONCILIATION OF FUNDS Total funds brought fonvard ,192,285 ,192,285 1,210.954 TOTAL FUNDS CARRIED FORWARD 1,181,137 1,181,137 ,192,285 The no*s forn] part of ihese financial statements Page 9
THE SUSSEX HEART CHARITY REGISTERED NUMBER: 06339790 BALANCE SHEET 31 MARCH 2025 2025 Toial funds 2024 Total funds Unrestricted ruiids Restricted funds Notes FIXED ASSETS Investments 15 718.259 718,259 676.347 CURRENT ASSETS Debiors Cash al bank 16 7.698 511,963 7,698 511.963 81,116 491.825 519,661 519.661 572,941 CREDITORS Amounts lallino due within one year 17 (56.78)) (56.783) (57,003) NET CURRENT ASSETS 46? 878 46? 878 515,938 TOTAL ASSETS LESS CURRENT LIABILITIES 1 181.137 1,181 137 1,192,285 NET ASSETS .181.li7 1,192 ?85 FUNDS Uiireslricled ndS 18 1.181,137 1.19?.285 TOTAL FUNDS 1,181,137 1,192,285 The charitable company is entilled 10 exemption from audit under Section 477 of tlie Companies Act 2006 for the year ended 31 March ?0?5. Tlie nieinbers have not required tlie company to obtain an audit of 115 financial 51alements t.or the year ended 31 March 20?5 iii accordance iyith Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring ihal tlie charilable company keeps accounting records that comply ivith Sections )86 and 387 of the Companies Act ?006 and preparing financial siatements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections )94 and 395 and whicli othenvise coinply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable lo the charitable coinpany. (b) These fiiiancial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies reoime. The financial siatements were approved by ihe Board of Truslees and authorised for issue and were signed on its beliaif by: on P D M l¥reeman - Trustee The notes forni part of these financial statements PaLye l O
THE SUSSEX HEA T CHARITY ASH FLOW STATEMENT R TH YEAR ENDED 31 MARCH 202 2025 2024 Notes Cash flows from operatlng activities Cash generated from operations 17,281 48,571 Net cash provided by operating activilies 17,281 48.571 Cash flows from Investing acllvltles Purchase of fixed asset investments Sale of fixed asset investments Interest received (134,971) 105,748 32,080 (433,069) 710,066 24,181 Net cash provid¢d by investing activities 2.857 301,178 Change In cash and cash equlvalents In the reportlng perlod Cash and cash equ5valents at the beglnnlng of the reportln8 perlod 20,138 349,749 491,825 142,076 Cash and ea$h equlvalents at the end of Ihe reportlng perlod 511.963 491,825 The notes form part of these financial statements Page 11
THE SUSSEX HEART CHARITY NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 202S RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITILS 2025 2024 Net expenditure for the reporting period (as per the Statement of Financial Activitles) Adjustments for: Gain on investments Interest received Decrease in debtors (Decreaseyincrease in creditors (11,148) (18,669) (12,689) (32.080) 73.418 (220) {13,365) (24,181) 79.891 24.895 Net cash provided by operations 17,281 48,571 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At31.3.25 Net cash Cash at bank 491,825 20,138 511,963 491,825 20,138 511,963 Total 491,825 20.138 511,963 The notes forni part of these finan¢ial statements Page 12
THE SU HEART CHARITY NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MAR ACCOUNTING POLICIES Basis of preparing the financlal statements The financial statements of the charitable company, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP {FRSI 02) 'Accounting and Reporting by Charities: Statement of Recommended Prdctice applicable to charities preparing their accounts with the Financial Reporting Standard applicable An the UK and Republic of Ireland (FRS102) (effective l January 2019),, Financial Reporting Standard FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companie5 Act 2006. The fmancial statements have been prepared under the historical cost convention. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The trusteesldirectors consider ihat there are no material un¢ertainties about the company's ability to continue as a going concern. Income Incoming resources are accounted for as followJ: Donatlons. legacies and fundraising. On a receivable basis when capable of financial measurement and as soon as the charity is notified of its legal entitlement and the amount due is quantified with reasonable certainty. Investment Income On a receivable bLsi5. Expenditure Liabilities are recognised as expenditure including irrecovernble VAT as soon as there is a legal or constructive obligation committing ihe charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the catrgory. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent wtth the use of resources. The cafrgories of expenditure are as follows: a).Charitable expenditure comprises of all expenditure directly relating to the obje¢tives of the charity. b).Costs of generating funds comprise the costs incurred in publicity and fundraising, along with the investment brokers charges. c).Support costs include governance Costs and rela* to the management of the charity's funds, organisational administration and compliance with statutory requirements. Tanglbk fixed assets and depreeiation Depreciation is provided to write off the cost of the assets over their useful lives as follows . Motor Vehicles _ 250/0 pa (reducing balance basis). Computers - 33.33Yo pa (straight line b&sis) Tangible fixed assets costing more than £500 are capitalised and included at Cost including any incidental expenses of acquisition. The purchase of highly specialised equipment forns part of the Charity's programme and is funded out of income. The trnstees consider that the cosl of such equipment should be written off in the year of purchase. Page 13 continued...
THE SUS EX HEART TY NOTES TO THE FINANCIAL STATEMENTS- continued FOR T E YEAR ENDED31 MARCH 2025 ACCOUNTING POLICIES - ¢ontlnued Toxalion The charity is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a choritsble company for UK Corporation Tax purposes. Accordingly the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I I Corporation Tax A¢t 2010 or Sec(ion 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Fund accountlng Unrestricted funds ¢an be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricled purposes within the objects of the charity. Restriclions arise when specified by the donor or when funds are raised for particular restricted purposes. Desi8nated funds ¢omprise of unrestricted funds which have been set aside at the discretion of the trustees for specific purpose. Further explanation of the nature and purpose of each fund is included in the notes to the financial slatements. Investments Investments held as fixed assets are shown at market value in accordance with the provisions of the Statement of R¢¢ommend¢d Practice 'Accountin8 by Charities,. Any 8ain or loss on revaluation is taken to the Statement of Financial Activities. DONATIONS AND LEGACIES 2025 2024 Donalions Le8acies 48,022 11,170 56.869 68,414 59,192 125,283 OTHER TRADING AcfiviTIES 2025 2024 Fundraising events 22,118 12,196 INVESTMENT INCOME 2025 2024 Dividends and Interest 32,080 24,181 Page 14 continued...
THE SU HEART CHARITY OTES TO THE FINANCIAL STATEMENTS- con FOR THE YEAR ENDED MAR H202 INCOME FROM CHARITABLE AcfiviTIES 2025 2024 Activity HMRC - Employment Allowance Cardiac Care 5,000 5,000 RAISIIYG FUNDS Ralslng donatlons and legaeles 2025 2024 Staff costs Fundraising Costs 33,101 2.055 39,271 3,218 35,156 42.489 Investment management costs 2025 2024 Portfolio management 3,907 7,606 Aggrega* amounts 39,063 50,095 CHARITABLE ACTIVITIES COSTS Direet Costs (see note 8) Support costs (see note 9) Totals Cardiac Care 32,486 70.678 103.164 DIRECT COSTS OF CHARITABLE ACTIVITIES 2025 2024 Grants, Bursaries and Community Projects Motor and Travel Insuran¢¢ 30.738 1.030 718 67,742 2,085 32,486 70,998 Page 15 continued...
THE SUSSEX HEA TCHARITY NOTES TO THE FINANCIAL STATEMENTS- eonlinue FOR THE YEAR ENDED 31 MARCH 202 SUPPORT COSTS Governance costs Management Totals Cardiac Care 66,964 3,714 70,678 Support costs. included in the above, are as follows: 2025 Cardiac Care 2024 Total activities Salaries Office Costs (incl Telephone) Independent Examination Legal and Bookkeeping 52,940 14,024 1,920 1,794 61,393 12.304 1,860 2,044 70,678 77,601 10. NET INCOMEI(EXPENDITURE) Net income/(expenditure} is slated after ¢harginW(crediting): 2025 2024 Independent Examination 1,920 1,860 TRUSTEES• REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefils for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. 12. srAFF COSTS Staff costs consist of the following: 2025 2024 Seconded staff from NHS Wages and Salaries Social Securlty Costs Pension Costs 14,384 76,000 7,977 2,605 73,982 7.879 2,566 Average Number of Employees The charity considers its key management personnel to be the directorsltrustees who receive no remuneration. No employee received ernoluments in excess of £60,000 (2024 none). Page 16 continued...
THE SUSSEX HEART CHARITY NOTES TO THE FINANCIAL STATEMENTS- continue FOR THE R ENDED 31 MARCH 2025 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (2024) Unrestricted Restricted funds funds Total funds INCOME AND EPIDOWMENTS FROM Donations and legacies 121.283 4,000 125,283 Charltsble activities Cardia¢ Care 5.000 5,000 Other trading activities Investsnent income 12.196 24,181 12,196 24.181 Tot21 162,660 4.000 166.660 EXPEIYDITURE ON Raising funds 50,095 50,095 Charitable activities Cardiac Care 144,599 4,000 148.599 Total 194,694 4,000 198,694 Net gains on investments 13.365 13,365 NET INCOMEI(EXPENDITURE) (18,669) (18,669) RECOIYCILIATION OF FUNDS Total funds brought for*vard 1,210,954 1210,954 TOTAL FUNDS CARRIED FORWARD 1,192.285 1,192,285 14. TANCIBLE FIXED ASSETS Computer equipment COST At l April 2024 and 31 March 2025 4,318 DEPRECIATION At l April 2024 and 31 March 2025 4J18 NET BOOK VALUE At 31 March 2025 At 31 March 2024 Page 17 continued...
THE SUSSEX HEART CHARITY NOTES TO THE FINANCIAL STATEMENTS- continue FOR TH AR ENDED ARCH 2025 15. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l April 2024 Additions Disposals Revaluations 676,347 134,971 (103,359) 10,300 At 31 March 2025 718,259 NET BOOK VALUE At 31 March 2025 718,259 At 31 March 2024 676,347 There were no investment assets outside the UK. Cost or valuation al 31 March 2025 is represented by: Listed investments Valuation in 2025 718,259 16. DEBTORS: AMOUNTS FALLING DUE WITHIN OIYE YEAR 2025 2024 Amounts held by brokers Legacies receivable Prepayments and a¢¢Ned income 6,316 24,234 55,500 .382 1.382 7,698 81,116 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Accrued expenses 56,783 57,003 Page 18 continued...
THE SSEX HEART CHARITY OTES TO THE FINANCIAL STATEMEN FOR THE YEAR ENDED -con 18. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.25 At 1.4.24 Unrestrleted funds General fimd Desiated Fund - Major Equipment Grants Designated Fund - Education GrantslBursaries Designated Fund- Small Equipment Grants Designated Fund - Automated External Defibrillator (AED) Grants Designated Fund - Research Projects Designated Fund - Projects Fund 931,618 (11,148) (62,384) 858,086 50.000 62,384 112,384 37,811 32,158 37,811 32,158 12,258 30.000 98,440 12,258 30.000 98,440 .192,285 (11,148) 1,181,137 TOTAL FUNDS 1,192,285 (11,148) 1.181,137 Net movement in fvnds, included in the above are as follows: Incoming resourres Resources expended Gains and losses Movement in funds Unre51rlcted funds General fund 118,390 (142,227) 12,689 (11.148) TOTAL FUNDS 118,390 (142,227) 12,689 (11,148) Comparntlves for movement In funds Net movement in funds At 31.3.24 At 1.4.23 Unrestrleted fund$ General fund Designated Fund - Major Equipment Grants Designated Fund - Education Grdnts/Bursaries Designated Fund - Small Equipment Grants Designated Fund - Automated External Defibrillator (AED) Grants Designated Fund - Resear¢h Projects Designated Fund - Projects Fund 927,048 4,570 931.618 50,000 50,000 47,455 35,523 (9,644) (3,365) 37,811 32,158 20,928 30.000 100,000 (8,670) 12,258 30,000 98,440 {1,560) 1.210.954 (18.669) ,192,285 TOTAL FUNDS ,210,954 (18,669) 1,192285 Page 19 Continued...
THE SUSSEX HE RTCHARITY NOTES TO THE FINANCIAL sfATEMEN FOR THE YEAR ENDED 31 MAR tinued 18. MOVEME1 IN FUNDS- eontinued Comparative net movement in funds. included An the above are as follows: Incoming R¢wur¢es resou expended Gains and losses Movement in funds Unrestrieted funds General fund Designated Fund - Education GrantslBursaries Designated Fund - Small Equipment Grants Designated Fund - Automated External Defibrillator (AED) Grants Designated Fund- Proje¢ts Fund 162,660 (171,455) 13365 4,570 {9.644) {3.365) (9,644) (3,365) (8.670) (1,560) (8,670) (1,560) 162,660 (194,694) 13,365 (18,669) Restricted funds Re-hab Group 4.0(KJ (4,000) TOTAL FUNDS 166,660 (198.694) 13.365 (18,669) The restricted fimds are as follows: l.Part of a l¢gary received for the Re-hab group (2024). 19. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. 20. ULTIMATE CONTROLLING PARTY The Ultinte controlling parties are the d1rectors1trtee 21. COMPANY LIMITED BY GUARAEE The Sussex Heart Charity is a charitable ¢ompany, limid by guarantee. registered in England and Wales. and ha5 no share capital. No one member has overall control of the company. Every member promise& if the charity is dissolved while he or she is a member or within twelve months after he or she ceases to be a rnernb, to contribute such sum (not exceeding £1 O) as may be demanded of him or her towards the payment of debts and liabilities of the company incurred before he or she ceases to be a member. and of the cos1& charges and expenses of winding up. and the adjuslment of the right of the contributories among themselves. The members of the company may at any time before, and in expe¢tation of. its dissolution resolve that any net assets of the company after all its debts and liabilities have been paid. or provision has been rnade for them, shall on or befor¢ the dissolution of the company be applied or Itansferred in any of the following ways: a).Directty for the objects or, b).By transfer to any charity or charities ftr purposes similar to the objects. c).To any charity for use for particular purposes that Pdll within the objects. The compangs registered number and registered office address can be found in the 'Legal and Administrative Infomiation, 5tIOn of the accounts. Page 20