Little Hearts Matter
(a company limited by guarantee)
Report and Financial Statements
Year ended 31 December 2022
A company limited by guarantee, registered in England and Wales, number 06442071, registered office 75 Harborne Road, 4th Floor, Edgbaston, Birmingham, West Midlands, B15 3BU, registered charity number 1123290.
Little Hearts Matter
(a company limited by guarantee)
Contents
Year ended 31 December 2022
Pages |
|
|---|---|
| 1 - 6 | Trustees’ Report |
| 7 | Independent Examiner’s Report |
| 8 | Statement of Financial Activities |
| 9 | Balance Sheet |
| 10 - 19 | Notes to the Accounts |
Little Hearts Matter (a company limited by guarantee)
Trustees’ Report
Year ended 31 December 2022
The Trustees are pleased to present their annual Directors’ report together with the financial statements of the Charity for the year ended 31 December 2022 which are also prepared to meet the requirements for a Directors’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
Chair’s Report
2022 has been a challenging year for the whole of the country and equally so for Little Hearts Matter (“LHM”). It has also been a rewarding year with support given to families at their moment of need.
The Trustee Board has changed since the year end, I have stepped up to the role of Chair with David Baumber moving to his previous role of Treasurer. He is replacing Peter Groves who has stepped down from the board after 16 years. I would like to take this opportunity to thank Peter for his time on the board supporting finance as well as both representing and supporting our bereaved members.
The office team have been exceptional in the face of ongoing Covid and cost of living challenges and again provided unwavering support to both the members and also to support the operation and income of the Charity.
The income uncertainty continued into 2022 but we have seen the levels grow compared to the previous year. Careful budgeting and planning, however, ensured that this has not impacted the services and support offered by the Charity. Through careful cost control, a surplus has been realised and this has enabled the Trustees to designate some of the general funds to provide bursaries to ensure all members can access the support of LHM.
Throughout these recent challenging years, children have continued to be born with a single ventricle heart; many have required surgery, some have sadly passed away and for others there has been considerable anxiety. Through all of this, the office team and support line volunteers have been there as a friend and shoulder to support children, young adults, parents, grandparents and friends. Further details of the support provided are included later in this report.
A clear highlight of the year was our first face-to-face open day since the start of Covid. This required careful planning to ensure safety for all attendees. The opportunities for families affected by a child with only half a heart to meet one another must always be taken and this was also the first event with a dedicated area for adults with half a heart.
Now at the end of 2022, LHM is in an exceptionally strong financial position and the continued support of the members, who provide the steer and direction of the Charity, is relatively assured. Our focus has therefore never been clearer, and I look forward to another rewarding year ahead.
Warren Manger
Page 1
Little Hearts Matter (a company limited by guarantee)
Trustees’ Report (continued)
Year ended 31 December 2022
Objectives and Activities
The objective of the Charity is to promote the relief and welfare of persons affected by congenital single ventricle cardiac disease and to advance the education of the medical profession and the general public on the subject of single ventricle cardiac disease and its implications for the family.
The main activities of the Charity in order to meet this objective are:
-
providing support and advice via telephone helplines,
-
putting families in touch with others with similar experiences through social media groups,
-
creating information on diagnoses and treatments in an easy-to-understand format,
-
organising education events for families to meet and learn from medical experts,
-
raising the profile of these conditions to ensure our members’ special needs are more widely understood,
-
building relations within the medical world to increase awareness of single ventricle disorders,
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hosting events for the children and their families to experience new activities in a supportive and safe environment,
-
funding and promoting research into these complex conditions and their treatments,
-
mindfully providing specific bereavement support, and
-
providing information and support for the children and young people themselves.
Achievements and Performance
2022 was a very positive year for Little Hearts Matter despite the impact of Covid. The core workload of the Charity continues to grow as the number of services expands alongside the size of the membership. Key achievements for the year include:
-
A face-to-face open day – the first since the pandemic started,
-
Similarly our first youth activity weekend since the start of Covid,
-
Generation of a new Fontan pathway film to help all ages understand their surgical treatment,
-
A new comic for 7 to 9 year olds,
-
A new online hub to enable 11 to 17 year olds to safely chat online with each other,
-
A new dedicated area on the website for adults affected by a single ventricle condition,
-
New information to help families after their Fontan surgery,
-
Sending 24 get well balloons after Fontan operations,
-
Sending over 1,500 birthday cards to members with a single ventricle heart condition,
-
Sending over 350 in memory cards to bereaved families.
Page 2
Little Hearts Matter (a company limited by guarantee)
Trustees’ Report (continued)
Year ended 31 December 2022
The Charity had 5,491 members as at 31 December 2021 (2021: 5,142).
Financial Review and Reserves Policy
It is the policy to maintain unrestricted funds at a level sufficient to cover management and administration costs, to respond to emergency applications for grants which arise from time to time as well as ongoing and future commitments approved by the Board of Trustees. The total reserves as at 31 December 2022 are £455,962 (2021: £425,793) of which £205,368 (2021: £179,494) relate to the general fund and £80,251 (2021: £75,000) have been designated. With the planned expansion of services to the membership, the Trustees have allocated £10,000 to a new Bursary designated fund to ensure all members are able to access the support offered by the Charity.
The Charity would like to maintain a general fund cash balance equating to between three and six months of expenditure from the unrestricted general fund. Based on the budgeted costs approved by the Board of Trustees for the year to 31 December 2022, the Charity has approximately six months (five months at 31 December 2021) of expenditure in the unrestricted general fund cash balance.
Income
LHM has received a total income of £443,455 which is 3% higher than the previous financial year (£429,962). Given the impact of Covid and the economic climate, the level of income in 2022 is deemed extremely satisfactory.
The Board of Trustees and office team are committed to ensuring that the level of income in the last two years is the new baseline to ensure the Charity can continue to expand its service offering to new families and to the young people affected by their life-changing medical conditions as they get older. With the forthcoming challenges of the cost of living crisis in the UK, the Trustees have a clear focus on income, acknowledge the challenges facing the members, friends and grant funders of LHM.
Expenditure
The overall expenditure of £413,286 shows an increase of 14% when compared to the prior year (£361,055). The increase was expected following staff recruitment during 2021 to provide extra dedicated services to our adult members, and also other roles moved from parttime to full time. This increase reflects the extra demand from and support provided to the membership.
Capital expenditure also increased to a level of £26,333 on the website to create a safe chat environment for teenagers, other age specific apps and computer equipment. The website and apps are again expanding the Charity’s services and the way they are delivered to the membership.
Future Developments
The growth in the Charity membership in recent years has led to increased demand for the various services offered. One key focus area is the increasing age of the children with single ventricle conditions and this has led to the next stage of the Charity’s strategy – “Creating a Better Future”. The Charity will continue to provide and expand on the services to families of the younger affected children as well as to bereaved families but will look to build these services and develop new support into a full roadmap as the young people enter adulthood.
Page 3
Little Hearts Matter (a company limited by guarantee)
Trustees’ Report (continued)
Year ended 31 December 2022
Reference and administrative details
| Charity number: | 1123290 |
|---|---|
| Company number: | 06442071 |
| Registered Office: | 75 Harborne Road, 4th Floor, Edgbaston, Birmingham, |
| West Midlands, B15 3BU | |
| Our advisors | |
| Bankers: | Barclays Bank plc |
| Colmore Row, | |
| Birmingham | |
| Independent Examiner: | David Williams FCA FCCA |
| Institute of Chartered Accountants in England and Wales | |
| Locke Williams Associates LLP | |
| Chartered Accountants | |
| Blackthorn House | |
| St Pauls Square | |
| Birmingham | |
| West Midlands | |
| B3 1RL | |
| Medical Adviser: | Dr David Crossland |
Trustees and Directors
The Directors of the charitable company (the Charity) are its Trustees for the purpose of charity law. The Trustees and Officers serving during the year and since the year end were as follows:
Chair: W Manger (with effect from 22 April 2023, formerly D Baumber) Treasurer: D Baumber (with effect from 22 April 2023, formerly P Groves) Other Trustees: I Baumber L Durkin J Lube H Palmer K Botham (appointed 22 April 2023) S Green (appointed 22 April 2023) P Groves (resigned 22 April 2023, having not opted for re-election) M O’Herlihy (resigned 22 April 2023, having not opted for re-election) A Pearce (resigned 22 April 2023)
Key Management Personnel
Chief Executive & : Suzie Hutchinson Service Lead
Page 4
Little Hearts Matter (a company limited by guarantee)
Trustees’ Report (continued)
Year ended 31 December 2022
Structure, Governance and Management
Governing document
The Company is limited by guarantee and is governed by its Memorandum and Articles of Association filed on 30 November 2007. The Company is also a Charity registered with the Charity Commission.
Appointment of Trustees
The Trustees of the Charity are appointed for a period of three years, at which point they must resign but are able to offer themselves for re-election at the Annual General Meeting if they so choose. Trustees can only be appointed at the Annual General Meeting by a majority vote of the members represented at the meeting and are proposed and seconded by current members of the Trustee Board.
Trustee induction and training
New Trustees receive a formal induction process whereby they spend at least one day in the Charity office to further understand the workings of the organisation. In addition to this they receive recent Charity Reports, financial reports and a binder explaining the full responsibilities of a Charity Trustee.
Organisation
At the quarterly Trustee meetings, the Trustees agree the broad strategy and areas of focus for the Charity. The day-to-day administration of the Charity is delegated to the Chief Executive who is given support by the Finance and General Purposes Committee, which consists of the Chair and two further Trustee members as well as the Chief Executive. The Committee meets every month.
Risk Management
The Board of Trustees has examined the major strategic, business and operational risks which the Charity has and confirms that systems have been established to enable a Risk Register to be produced so that the necessary steps can be taken to manage such risks.
Covid and the recovery from this virus combined with the cost of living crisis, continues to present challenges to the Charity and its membership. The financial position during 2021 and 2022 improved through tight cost control and support from various grant making bodies as well as the membership. This position then lessens the risk to LHM but the Trustee board and office team continue to monitor the situation closely and adapt as required.
Page 5
Little Hearts Matter (a company limited by guarantee)
Trustees’ Report (continued)
Year ended 31 December 2022
Grant Making Policy
The applications for funding of projects are reviewed by the Board of Trustees for approval.
Public Benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities as well as setting the grant-making policy for the year.
Trustees’ responsibilities in relation to the Financial Statements
The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Laws applicable to charitable companies in England and Wales require the Trustees and Directors to prepare financial statements for each financial period, which give a true and fair view of the charitable Company as at its balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial period. In preparing those financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently,
-
observe the methods and principles in the Charities SORP,
-
make judgements and estimates that are reasonable and prudent,
-
state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements, and
-
prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charitable company will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charitable Company and enable them to ensure the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the Board of Trustees and signed on their behalf by:
D Baumber Treasurer
18 June 2023
Page 6
Little Hearts Matter (a company limited by guarantee)
Independent Examiner’s Report to the Trustees of Little Hearts Matter
Year ended 31 December 2022
I report to the charity trustees on my examination of the accounts of Little Hearts Matter (the Charity) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner’s statement
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
David Williams FCA FCCA Institute of Chartered Accountants in England and Wales Locke Williams Associates LLP Chartered Accountants Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL
19 June 2023
Page 7
Little Hearts Matter (a company limited by guarantee)
Statement of Financial Activities including Income and Expenditure Account
Year ended 31 December 2022
| Note Incoming resources Donations Fundraising Corporate/grant funders Tax refunds Income from sale of merchandise 3 Total incoming resources Resources expended Costs of generating funds 4 Charitable activities 5 Total resources expended Transfers between funds |
Unrestricted Funds General Designated £ £ 118,310 - 94,449 - 107,135 - 14,412 - 4,725 - 339,031 - 11,169 - 291,988 4,479 303,157 4,479 (10,000) 10,000 |
Unrestricted Funds General Designated £ £ 118,310 - 94,449 - 107,135 - 14,412 - 4,725 - 339,031 - 11,169 - 291,988 4,479 303,157 4,479 (10,000) 10,000 |
Restricteds Funds £ 1,110 - 103,314 - - 104,424 - 105,650 105,650 - |
Total funds for year ended 31 December 2022 £ 119,420 94,449 210,449 14,412 4,725 443,455 11,169 402,117 413,286 - |
Total funds for year ended 31 December 2021 £ 80,351 124,357 200,748 19,600 4,906 |
|---|---|---|---|---|---|
| General £ 118,310 94,449 107,135 14,412 4,725 339,031 11,169 291,988 303,157 (10,000) |
|||||
| 429,962 | |||||
| 16,034 345,021 |
|||||
| 361,055 | |||||
| - | |||||
| Net movement in funds | 25,874 | 5,521 | (1,226) | 30,169 | 68,907 |
| Fund balance at 31 December 2021 Fund balance at 31 December 2022 |
179,494 205,368 |
75,000 80,521 |
171,299 170,073 |
425,793 455,962 |
356,886 |
| 425,793 |
The Statement of Financial Activities includes all gains and losses recognised in the period.
All income and expenditure derive from continuing activities.
Page 8
(a company limited by guarantee, company number 06442071)
Little Hearts Matter
Balance Sheet
As at 31 December 2022
----- Start of picture text -----
As at 31 As at 31
December December
2022 2021
Notes £ £
Fixed assets
Intangible fixed assets 9 22,172 3,122
Tangible fixed assets 9 2,723 4,125
24,895 7,247
Current assets
Debtors 10 26,272 24,317
Cash at bank and in hand 11 422,434 404,546
448,706 428,863
Creditors: amounts falling
12 (17,639) (10,317)
due within one year
Net current assets 431,067 418,546
Net assets 455,962 425,793
Funds
Unrestricted:
General 13 205,368 179,494
Designated 13 80,521 75,000
285,889 254,494
Restricted 13,14 170,073 171,299
Total Charity Funds 455,962 425,793
----- End of picture text -----
For the year ended 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to the accounting records and the preparation of the accounts.
These financial statements were approved by the Board of Directors on 17 June 2023 and signed on its behalf on 18 June 2023 by:
W Manger Chair Director
D Baumber Treasurer Director
Page 9
Little Hearts Matter (a company limited by guarantee, company number 06442071)
Notes to the Financial Statements Year ended 31 December 2022
1 Company status
The charity is a company limited by guarantee in England and Wales and does not have any share capital. The liability of the members is limited and shall not exceed £1 per member. Any surplus on winding up is to be donated to a charity whose objects are of a similar nature. The charitable company has taken advantage of section 60 of the Companies Act 2006 and deleted the word ‘Limited’ from its name.
2 Principal accounting policies
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company’s accounts.
a) Basis of accounting
The financial statements have been prepared in accordance with the Charities Act 2011 and ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland’ published in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 section 1A.
The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Preparation of the accounts on a going concern basis. The Charity reported a surplus of £30,169 during the year and had total funds of £455,793 including a cash balance of £422,434. The Trustees are of the view that on this basis the charity is a going concern. The Trustees remain in regular contact with members and sponsoring bodies to secure their ongoing financial support.
The financial statements are prepared in sterling which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest pound.
b) Income
Income is recognised when the Charity has entitlement to the funds, any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executors to the Charity that a distribution will be made, or when a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the Charity has been notified of the executors’ intention to make a distribution.
Page 10
Little Hearts Matter (a company limited by guarantee, company number 06442071)
Notes to the Financial Statements (continued) Year ended 31 December 2022
2 Principal accounting policies (continued)
c) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
d) Governance costs
Governance costs comprise costs for the running of the Charity itself as an organisation.
e) Stocks
Stocks are valued at the lower of cost and net realisable value. Given the slow moving nature of the stocks, these balances have now been fully written off.
f) Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
g) Tangible fixed assets and depreciation
Tangible fixed assets are capitalised and included at cost including any incidental expenses of acquisition. Only items with a cost greater than £1,000 are capitalised with lower values expensed through the Statement of Financial Activities.
Fixed assets are depreciated at annual rates estimated to write off the cost over their expected working life on the following bases:
| Fixtures and fittings | 20% |
|---|---|
| Computer equipment | 33% |
| Websites | 20% |
The original cost of websites is capitalised into fixed assets but ongoing maintenance and minor modifications are shown in the Statement of Financial Activities.
h) Operating leases
Rental charges are charged on a straight-line basis over the term of the lease.
i) Taxation
Little Hearts Matter is registered as a Charity with the Charity Commission and under the provisions of Section 478 Corporation Tax Act 2010, is exempt from liability to taxation.
j) Financial instruments
The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
k) Donated services
The Board of Trustees also provide services to the Charity for day to day book-keeping, report production, payroll services, information production and other ad-hoc tasks. The Charity also has approximately 50 volunteers who lead regional groups, help provide the dedicated support line service and support administrative tasks in the office. In accordance with the Charities SORP (FRS 102), the general volunteer time of these groups has not been recognised in these accounts.
Page 11
Little Hearts Matter (a company limited by guarantee, company number 06442071)
Notes to the Financial Statements (continued) Year ended 31 December 2022
2 Principal accounting policies (continued)
l) Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the Trustees required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Profit on sale of merchandise
| sts of generating funds Sales Cost of sales (note 4) Net profit |
Year ended 31 December 2022 £ 4,725 (2,476) 2,249 |
Year ended 31 December 2021 £ 4,906 (2,885) 2,021 |
|---|---|---|
| LHM Events Fundraising website charges Cost of sales of merchandise (note 3) Printing, travel and postage Other |
Year ended 31 December 2022 £ 2,576 3,195 2,476 704 2,218 11,169 |
Year ended 31 December 2021 £ 4,385 4,052 2,885 1,445 3,267 |
| 16,034 |
4 Costs of generating funds
Page 12
Little Hearts Matter (a company limited by guarantee, company number 06442071)
Notes to the Financial Statements (continued) Year ended 31 December 2022
5 Charitable activities
----- Start of picture text -----
Year ended Year ended
31 December 31 December
2022 2021
£ £
Staff costs 230,054 188,205
Rent and service charges 49,764 47,952
Open day / Summer event 22,152 22,640
Database 13,230 6,162
IT support & Licences 11,518 11,251
Depreciation 8,685 4,395
Printing/photocopying 7,293 19,157
Telephone 6,261 5,600
Newsletter 6,243 5,123
Governance costs 5,928 6,570
Training 4,555 2,005
Travel and hotels 4,234 1,655
Subscriptions 3,813 1,937
Recruitment 3,797 694
Youth activities 3,697 2,239
Postage 2,983 3,254
Insurance 2,787 3,922
-
Activity weekends 2,228
Gifts 1,865 3,307
Meetings 1,621 391
Pensions administration 1,123 1,123
Bereavement events 961 2,670
Other costs 7,325 4,769
402,117 345,021
Analysed as:
Unrestricted: General 291,988 256,709
-
Unrestricted: Designated 4,479
Restricted 105,650 88,312
402,117 345,021
----- End of picture text -----
Page 13
Little Hearts Matter (a company limited by guarantee, company number 06442071)
Notes to the Financial Statements (continued) Year ended 31 December 2022
6 Governance costs
----- Start of picture text -----
Year ended Year ended
31 December 31 December
2022 2021
£ £
Staff costs 5,108 4,885
Independent examiner’s fee 820 1,685
5,928 6,570
----- End of picture text -----
The Trustee expenses have been apportioned to take account of meetings attended by the Trustees involved in day-to-day running of the Charity and the values above relate to travel to Trustee meetings. The staff costs are an apportionment based on estimated time.
Expenses relating to previous years included within creditors: amounts due within one year (note 13) have been released and treated as donations where claims have not been made.
The amount paid to the independent examiner for the independent examination in the year totalled £1,200 (2021: 1,685).
7 Trustees’ remuneration
No remuneration has been paid to the members of the Board of Trustees. During the year no members of the Board of Trustees were reimbursed for travel expenses (2021: £nil). Where feasible the Charity incurs the cost directly for Trustee travel and accommodation expenses.
8 Staff costs
The aggregate cost of employment was as follows:
| Wages and salaries Social security costs Pensions The average number of employees was: Administration |
Year ended 31 December 2022 £ 212,905 16,732 5,525 235,162 8 |
Year ended 31 December 2021 £ 177,161 11,004 4,925 |
|---|---|---|
| 193,090 | ||
| 8 |
No employees received benefits of more than £60,000.
The key management personnel of the Charity comprise the Trustees, the Chief Executive, the Youth Leader and Head of Fundraising. The total employee benefits of the key management personnel were £107,407 (2021: £102,428).
Page 14
Little Hearts Matter (a company limited by guarantee, company number 06442071)
Notes to the Financial Statements (continued) Year ended 31 December 2022
9 Comparatives for the Statement of Financial Activities
----- Start of picture text -----
Year ended 31 December 2021
Unrestricted Funds Restricteds Total
General Designated Funds Funds
£ £ £ £
Incoming resources
Donations 79,191 - 1,160 80,351
- -
Fundraising 124,357 124,357
-
Corporate/grant funders 103,922 96,826 200,748
- - - -
Covid donations/grants
Tax refunds 19,600 - - 19,600
Income from sale of -
-
4,906 4,906
merchandise
-
Total incoming resources 331,976 97,986 429,962
Resources expended
- -
Costs of generating funds 16,034 16,034
Charitable activities 256,709 - 88,312 345,021
-
Total resources expended 272,743 88,312 361,055
Transfers between funds (75,000) 75,000 - -
Net movement in funds (15,767) 75,000 9,674 68,907
-
Total funds brought forward 195,261 161,625 356,886
Total funds carried forward 179,494 75,000 171,299 425,793
----- End of picture text -----
Page 15
Little Hearts Matter
(a company limited by guarantee, company number 06442071)
Notes to the Financial Statements (continued) Year ended 31 December 2022
10 Tangible fixed assets
----- Start of picture text -----
Intangible
Total fixed
Fixtures and Computer Tangible assets:
fittings equipment fixed assets websites
£ £ £ £
Cost
At 1 January 2022 1,217 10,843 12,060 3,902
Additions - 1,301 1,301 25,032
- - - -
Disposals
At 31 December 2022 1,217 12,144 13,361 28,934
Depreciation
At 1 January 2022 1,217 6,718 7,935 780
-
Charge for the year 2,703 2,703 5,982
- - - -
Disposals
At 31 December 2022 1,217 9,421 10,638 6,762
Net Book value
At 31 December 2022 - 2,723 2,723 22,172
At 31 December 2021 - 4,125 4,125 3,122
11 Debtors
As at 31 As at 31
December December
2022 2021
£ £
Prepayments 26,272 24,317
12 Cash at bank and in hand
As at 31 As at 31
December December
2022 2021
£ £
Current accounts 422,199 403,840
Cash in hand 235 706
422,434 404,546
----- End of picture text -----
Page 16
Little Hearts Matter (a company limited by guarantee, company number 06442071)
Notes to the Financial Statements (continued) Year ended 31 December 2022
13 Creditors: amounts falling due within one year
----- Start of picture text -----
As at 31 As at 31
December December
2022 2021
£ £
Taxation and social security 5,064 4,857
Acruals 12,575 5,460
17,639 10,317
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14 Analysis of net assets between funds
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As at 31 As at 31
Restricted Unrestricted December December
fund funds 2022 2021
£ £ £ £
Fixed assets 22,632 2,263 24,895 7,247
Net current assets 147,441 283,626 431,067 418,546
170,073 285,889 455,962 425,793
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15 Analysis of charitable funds
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As at 31 As at 31
December Incoming Resources December
2021 resources Transfers expended 2022
£ £ £ £ £
Unrestricted funds:
General Fund 179,494 339,031 (10,000) (303,157) 205,368
- -
Designated Fund: Service 75,000 (4,479) 70,521
Designated Fund: Bursaries - - 10,000 10,000
254,494 339,031 - (307,636) 285,889
Restricted funds:
Persimmon - Covid 35,220 - - - 35,220
-
Paul Hamlyn - adult services 24,870 30,000 (20,156) 34,714
Children in Need 6,013 43,424 - (31,435) 18,002
-
Lottery Community Fund 32,011 18,390 (34,259) 16,142
Barbara Ward 16,974 - - (5,827) 11,147
-
Freddy Fund 11,725 1,110 (3,500) 9,335
Youth services 15,039 - (863) (5,182) 8,994
Pears - 8,500 - - 8,500
St James's Place - Covid 6,930 - - (1,386) 5,544
British Medical Association 5,927 - - (1,230) 4,697
- - -
Energy Project 3,391 3,391
- -
Jigzy 4,500 (1,395) 3,105
- -
Lottery - In Memory 3,748 (961) 2,787
Other (each < £3,000 closing) 4,951 3,000 863 (319) 8,495
-
171,299 104,424 (105,650) 170,073
Total funds 425,793 443,455 - (413,286) 455,962
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Page 17
Little Hearts Matter (a company limited by guarantee, company number 06442071)
Notes to the Financial Statements (continued) Year ended 31 December 2022
15 Analysis of charitable funds (continued)
The designated funds have been created to ensure that any shortfall in funding for the core services of LHM can met. This then provides continuity of support for the membership.
The restricted funds relate to the following:
| ‘Covid’ Funds | These funds have been provided from various bodies to ensure the |
|---|---|
| continuation of various key services to the membership during the recovery | |
| from the Covid 19 pandemic. | |
| Paul Hamlyn | These funds have been provided to enable LHM to expand its services and |
| provide dedicated services to adults with a single ventricle heart condition. | |
| Children in Need | Funding for youth services including a dedicated youth support role. |
| Lottery Community | This provides funding for Social Media Service provision. |
| Fund | |
| Barbara Ward Fund | These funds have been received to provide activity weekends for the children |
| and their siblings affected by a single ventricle heart condition. | |
| Freddy Fund | In memory of a child that died, this fund is used to support projects to inform |
| and help the brothers and sisters of children born with single ventricle heart | |
| disease. | |
| Youth services | This provides dedicated funds for youth events and also seed capital for the |
| youth website development project. | |
| Pears | Funds to support the digital environment to facilitate controlled chat groups, |
| enhanced search engine techniques and web-site development. | |
| British Medical | This funding has been provided to develop resources for young people, their |
| Association | families and their relevant healthcare professionals regarding the transition |
| from child to adult medical support with a single ventricle heart condition. | |
| Energy Project | These are funds which have been received to support the Energy Project and |
| describes the “spoons of energy” initiative which gives children a simple way | |
| to explain to others how their condition affects them day to day. | |
| Jigzy | Funds have been provided to create and maintain a new comic to help the |
| children affected by a single ventricle condition. | |
| Lottery – In Memory | This fund supports the memorial events provided by LHM. |
16 Commitments
The Charity has no ongoing capital commitments as at 31 December 2022.
Page 18
Little Hearts Matter (a company limited by guarantee, company number 06442071)
Notes to the Financial Statements (continued) Year ended 31 December 2022
17 Related Party Transactions
The only related party transactions, other than expenses disclosed in note 7, have been monies received from the Trustees and their families as follows:
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Year ended Year ended
31 December 31 December
2022 2021
£ £
Donations 320 425
Merchandise 28 101
348 526
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Page 19