REGISTERED CHARITY NUMBER: 1143119
KEEPTHEBEAT
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2022
KEEPTHEBEAT
Contents of the Financial Statements for the Year Ended 31 October 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
KEEPTHEBEAT
Report of the Trustees for the Year Ended 31 October 2022
The trustees present their report with the financial statements of the charity for the year ended 31 October 2022. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal activity of the Charity continues to be providing hope, relief and support for children and young people (and their families and carers) affected by congenital heart defects. The Charity also aims to advance public education on the subject of congenital heart defects and the effects on children, young people and their families.
Significant activities
A key strategy utilised in achieving these objectives and aims is the use of social networking platforms as a means of communication and to generate donations and encourage fund raising.
The ability to raise funds and carry out activities has been hampered since the Covid-19 Pandemic as there are restrictions on visiting hospitals and also it has been difficult to bring people together in the accounting period to promote the work that has been done.
Further to this, some of the support that we have given is to bereaved families and due to it's very sensitive nature has not been promoted.
KEEPTHEBEAT continues to be the adopted charity of the East Midlands Congenital Heart Network across the wider geographical area. Network meetings have been sporadic and the availability of the Chairman of KEEPTHEBEAT has been reduced due to work commitments.
The main activities of the charity are to support the families and children with heart defects and the donation of hospital equipment. The Charity continues to fund the education and training of nurses where appropriate and requested.
Public benefit
The Trustees have due regard for the guidance published by the Charities Commission on Public Benefit.
Volunteers
The Charity has needed limited support by volunteers this year. The value of any support cannot be quantified but on every occasion it is very much appreciated. Due to the lack of events following the Covid-19 Pandemic, the need to call on volunteers has been reduced.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The East Midlands Congenital Heart Centre moved its services to Glenfield during the previous accounting period and has now settled in place. The Charity is unable to visit the wards due to the new requirements post Covid-19 Pandemic and at present we are working with the Unit to enable at least one member of the committee to be able to visit on regular occasions.
The Charity has continued to make contributions to the ward and the play specialists at the Leicester Royal infirmary and again has supported families across the network in a hospital and at home.
Fundraising activities
During the year, the Charity's fund raising activities were again limited as the only event that we could run was a virtual Santa Walk. There is hopes to ignite the One Mile Run in the next accounting period and the future to once again have an annual ball. There was a significant individual donation made to the Charity over the last 12 months as another Charity brought their activities to an end.
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KEEPTHEBEAT
Report of the Trustees for the Year Ended 31 October 2022
FINANCIAL REVIEW
Financial position
Total incoming resources were £50,864 (2021: £32,807). After deducting expenditure of £21,608 (2021: £17,618) there was net income of £29,256 (2021: £15,189) for the year.
As at 31 October 2022, the Charity had total funds of £68,936 (2021: £39,680) all of which were unrestricted.
Reserves policy
We do not consider it necessary to retain significant reserves as ongoing operational costs of the Charity are minimal. At the end of the accounting period there continues to be a surplus of funds which ensures that we are able to respond to requests from the East Midlands Congenital Heart Centre for items when needed.
FUTURE PLANS
In terms of fund raising, the Charity hopes to reactivate the 1 Mile Run and Santa Event with the intention of having an annual ball commencing at earliest in 2024.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Trustees
The trustees were appointed because they had the skills required by the Charity to achieve its objectives. All of the current trustees were appointed on registration.
There are no plans at present to extend the number of trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1143119
Principal address
PO Box 10204 Hinckley LE10 9EX
Trustees
A J Tansey (Chairman) Mrs A Tansey Miss A Tansey
Independent Examiner
torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. A J Tansey - Trustee
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Independent Examiner's Report to the Trustees of KEEPTHEBEAT
Independent examiner's report to the trustees of KEEPTHEBEAT
I report to the charity trustees on my examination of the accounts of KEEPTHEBEAT (the Trust) for the year ended 31 October 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Mark Andrew Torr FCCA
torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
Date: .............................................
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KEEPTHEBEAT
Statement of Financial Activities for the Year Ended 31 October 2022
| 31.10.22 | 31.10.21 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 50,794 | - | 50,794 | 32,207 | |
| Trading activities | 2 | 25 | - | 25 | 600 |
| Investment income | 3 | 45 | - | 45 | - |
| Total | 50,864 | - | 50,864 | 32,807 | |
| EXPENDITURE ON | |||||
| Raising funds | 4 | 3,751 | - | 3,751 | 3,081 |
| Charitable activities | 5 | ||||
| Donation of equipment and other items | 13,792 | - | 13,792 | 11,358 | |
| Education and training | 1,270 | - | 1,270 | 351 | |
| Family support | 2,795 | - | 2,795 | 2,828 | |
| Total | 21,608 | - | 21,608 | 17,618 | |
| NET INCOME | 29,256 | - | 29,256 | 15,189 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 39,680 | - | 39,680 | 24,491 | |
| TOTAL FUNDS CARRIED FORWARD | 68,936 | - | 68,936 | 39,680 |
The notes form part of these financial statements
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KEEPTHEBEAT
Balance Sheet
31 October 2022
| 31.10.22 | 31.10.21 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 11 | 1,776 | - | 1,776 | 1,880 |
| CURRENT ASSETS | |||||
| Debtors | 12 | 1,135 | - | 1,135 | 2,013 |
| Cash at bank | 68,111 | - | 68,111 | 37,909 | |
| 69,246 | - | 69,246 | 39,922 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 13 | (2,086) | - | (2,086) | (2,122) |
| NET CURRENT ASSETS | 67,160 | - | 67,160 | 37,800 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 68,936 | - | 68,936 | 39,680 | |
| NET ASSETS | 68,936 | - | 68,936 | 39,680 | |
| FUNDS | 14 | ||||
| Unrestricted funds | 68,936 | 39,680 | |||
| TOTAL FUNDS | 68,936 | 39,680 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. A J Tansey - Trustee
The notes form part of these financial statements
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KEEPTHEBEAT
Notes to the Financial Statements for the Year Ended 31 October 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the 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 category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Allocation and apportionment of costs
Costs are apportioned between activities based on an estimate of management time spent.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Storage container
- 5% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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KEEPTHEBEAT
Notes to the Financial Statements - continued for the Year Ended 31 October 2022
1. ACCOUNTING POLICIES - continued
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective rate of interest method, less any impairment.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Going concern
After reviewing the charity's forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements.
2. TRADING ACTIVITIES
| 2. | TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.10.22 | 31.10.21 | ||
| £ | £ | ||
| Sale of merchandise | 25 | 600 | |
| 3. | INVESTMENT INCOME | ||
| 31.10.22 | 31.10.21 | ||
| £ | £ | ||
| Interest receivable - trading | 45 | - | |
| 4. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.10.22 | 31.10.21 | ||
| £ | £ | ||
| Other fundraising events | 96 | 110 | |
| Fundraising expenses | 1,965 | 1,313 | |
| Finance and similar charges | 363 | 602 | |
| Support costs | 1,327 | 1,056 | |
| 3,751 | 3,081 |
5. CHARITABLE ACTIVITIES COSTS
| Donation of equipment and other items Education and training Family support |
Grant funding of activities Support Direct (see note costs (see Costs 6) note 7) £ £ £ 9,031 2,990 1,771 827 - 443 - 1,908 887 9,858 4,898 3,101 |
Totals £ 13,792 1,270 2,795 |
|---|---|---|
| 17,857 |
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KEEPTHEBEAT
Notes to the Financial Statements - continued for the Year Ended 31 October 2022
| 6. | GRANTS PAYABLE | ||
|---|---|---|---|
| 31.10.22 | 31.10.21 | ||
| £ | £ | ||
| Donation of equipment and other items | 2,990 | 5,939 | |
| Family support | 1,908 | 2,125 | |
| 4,898 | 8,064 | ||
| The total grants paid to institutions during the year was as follows: | |||
| 31.10.22 | 31.10.21 | ||
| £ | £ | ||
| East Midlands Congenital Heart Centre | - | 5,939 | |
| Roche Diagnostics Limited | 2,990 | - | |
| 2,990 | 5,939 |
7. SUPPORT COSTS
| Governance Management Finance costs £ £ £ Raising donations and legacies 865 30 432 Donation of equipment and other items 1,155 40 576 Education and training 289 10 144 Family support 579 20 288 2,888 100 1,440 Activity Basis of allocation Management Estimated proportion of management time spent Finance Estimated proportion of management time spent Governance costs Estimated proportion of management time spent |
Totals £ 1,327 1,771 443 887 |
|---|---|
| 4,428 | |
The proportion of management time allocated to each activity has been estimated as:
| 31.10.22 31.10.21 Raising donations and legacies 30% 30% Donating goods and other items 40% 40% Education and training 10% 10% Family support 20% 20% 8. INDEPENDENT EXAMINER'S REMUNERATION 31.10.21 £ Independent Examiner's Fees - External scrutiny 420 Independent Examiner's Fees - Accountancy services 1,020 1,440 |
31.10.22 31.10.21 Raising donations and legacies 30% 30% Donating goods and other items 40% 40% Education and training 10% 10% Family support 20% 20% 8. INDEPENDENT EXAMINER'S REMUNERATION 31.10.21 £ Independent Examiner's Fees - External scrutiny 420 Independent Examiner's Fees - Accountancy services 1,020 1,440 |
|
|---|---|---|
| 30% | ||
| 40% | ||
| 10% | ||
| 20% | ||
| 31.10.21 | 31.10.20 | |
| £ | £ | |
| 420 | 420 | |
| 1,020 | 1,020 | |
| 1,440 | 1,440 | |
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KEEPTHEBEAT
Notes to the Financial Statements - continued for the Year Ended 31 October 2022
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2022 nor for the year ended 31 October 2021.
Trustees' expenses
There were no trustees' expenses and therefore no reimbursements for the year ended 31 October 2022 nor for the year ended 31 October 2021.
10. STAFF COSTS
There were no staff costs for the year ended 31 October 2022, nor for the year ended 31 October 2021, and therefore no employees received emoluments in excess of £60,000.
AVERAGE NUMBER OF EMPLOYEES
The average number of employees during the year was nil (2021 - nil).
11. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Storage | |
| container | |
| £ | |
| COST | |
| At 1 November 2021 and | |
| 31 October 2022 | 2,080 |
| DEPRECIATION | |
| At 1 November 2021 | 200 |
| Charge for year | 104 |
| At 31 October 2022 | 304 |
| NET BOOK VALUE | |
| At 31 October 2022 | 1,776 |
| At 31 October 2021 | 1,880 |
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.10.22 | 31.10.21 | |
|---|---|---|
| £ | £ | |
| Other debtors | 419 | 1,340 |
| Prepayments and accrued income | 716 | 673 |
| 1,135 | 2,013 |
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KEEPTHEBEAT
Notes to the Financial Statements - continued for the Year Ended 31 October 2022
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 31.10.22 | 31.10.21 | |||
| £ | £ | |||
| Trade creditors | 647 | 682 | ||
| Accruals and deferred income | 1,439 | 1,440 | ||
| 2,086 | 2,122 | |||
| 14. | MOVEMENT IN FUNDS | |||
| Net | ||||
| At | movement | At | ||
| 1.11.21 | in funds | 31.10.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 39,680 | 29,256 | 68,936 | |
| TOTAL FUNDS | 39,680 | 29,256 | 68,936 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 50,864 | (21,608) | 29,256 | |
| TOTAL FUNDS | 50,864 | (21,608) | 29,256 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| At | movement | At | ||
| 1.11.20 | in funds | 31.10.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 24,491 | 15,189 | 39,680 | |
| TOTAL FUNDS | 24,491 | 15,189 | 39,680 | |
| Comparative net movement in funds, included in the above are | as follows: | |||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 32,807 | (17,618) | 15,189 | |
| TOTAL FUNDS | 32,807 | (17,618) | 15,189 |
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KEEPTHEBEAT
Notes to the Financial Statements - continued for the Year Ended 31 October 2022
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2022 nor for the year ended 31 October 2021.
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