Yeovil Heartbeat
Charity Registration Number: 1160305
Trustees, Annual Report and Financial Statements
for the Year Ended 31 March 2024
Contents
l} Administrative Details...........,..,.,,.,.......,.,,.
21 Trustees, Annual Report.....,,...,,...,,.......,......,....,,........
31 Financial Statement...........................................
41 Income and Expenditure Account.........................,...................................,..,....,....,....,.,,..,.,....,..,..
51 Balance Sheet.
61 Notes to the Financial Statements.............................,..,.,,....,...,,.
71 Independent examiner's statement....
81 Statement of Trustees, Responsibilities,,,...,.........,...
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Yeovil Heartbeat
Trustees, Annual Report and Financial Statements 2023-24
l) Administrative Details
Trustees:
Ashley Davidson
Andrew Woods
Anthony Love
Rita Hurt
Henry Philip Eveleigh
Terence Street
John Hayward
Paul Hurt
Alan Wickes
Anne Caines
Denise Street
Chair
Secretary
Treasurer
(resigned 0110612C24)
(resigned 0110112024)
(resigned 0111212023)
Contact address:
Yeovil Heartbeat,
Cardiac Rehabilitation Dept,
Yeovil District Hospital,
Higher Kingston,
Yeovil BA214AT
Independent Examiner:
Mr Timothy Cooper, ACA ICAEW.
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Yeovil Heartbeat
Trustees, Annual Report and Financial Statements 2023-24
2) Trustees, Annual Report
The Trustees submit their annual report following the provisions of SORP (FRS 102).
Structure and Management..
Yeovil Heartbeat is a registered CIO (2015) and is governed by its constitution (revised
2015)
The trustees are all volunteers. The Trustees are authorised to co-opt new members to fill
vacancies in order to ensure adequate representation and diversity. The trustees V￿rk with
Yeovil District Hospital {YDH) Cardio Department to try to ensure the department is
represented on the board of trustees.
The Trustees are aware of their responsibilities regarding public benefit in accordance with
the guidan￿ issued by the Charity Commission.
Management decisions are taken by the trustees in their regular meetings. Decisions are
informed by advice from the YDH Cardio Department staff and from the team of Phase 4
qualified gym instructors. Regular liaison takes place between these bodies,
Objectives and Activities:
The purposé of the charity is to support the work of the Cardiac Rehabilitstion Unit at YDH,
especially the Phase 4 exercise classes, which allow cardiac patients in the local area a
lifelong option to maintain their cardiac health.
The department provides Phases 1, 2, 3 and 4 of cardiac rehabilitation from the unit based
at YDH. All staff costs for Phases 1 to 3 are met by the NHS Trust. The exercise equipment
for phases 3 and 4 and the staff costs for the phase 4 provision are met by the charity along
with specialised training needs for the staff.
Regular maintenance of gym equipment is overseen by phase 4 instructor Matthew King.
Where equipment needs replacinglrenewing he will refer to the trustees. The payment rate
for gym instructors is set by the trustees and is reviewed annually. It is benchmarked against
the rates for local gyms and by the income from gym fees.
Volunteers assist with fund raising events, the upkeep of the gym and assisting patients in
Phase 3 sessions.
Achievements and Performance:
The Cardiac rehabilitation unit provides infomiation, support and exercise options for all
cardiac patients who attend YDH. Patients can also be referred in by other hospitals or their
GP. Counselling services are provided and funded where necessary.
We have assisted approximately 250 to 350 new patients this year, enabling them to retum
to their lives healthier and more knowledgeable on how to maintain and improve their
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Yeovil Heartbeat
Trustees, Annual Report and Financial Statements 2023-24
cardiac health. Many patients return for the voluntary Phase 4 sessions to maintain and
further improve their fitness.
This year has been one of graat change for the cardiac fehabilitation unit as the Trust has
merged with Taunton Musgrove Hospital to create Somerset NHSFT. YDH cardiac
rehabilitation unit (with the support of Yeovil Heartbe21) conb'nuÈs to meet all local and
national targets set.
Fundraising has been sornewhat limited since COVID, but the charity remains in a healthy
financial position as a result of donalions and ocGqsional fundraising activities.
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Yeovil Heartbeat
Trustees, Annual Report and Financial Statements 2023-24
3) Financial Statement
The financial position of Yeovil Heartbeat is strong with a trading balance of £12,420 at the
year end and with £220.000 held in Designated ReseNes.
The Reserves Pollcy, which was unanimously approved by the trustees at their meeting on
Ih
8 April 2024, sets out why Yeovil Heartbeat holds its particular level of reserves and how
the TrLJStees seek to ensure finanoial stability and sustainability.
Relaining approximately a £15,000 floating fund for day-to-day trading, at present the
Charity has £220,000 in Unrestricted Reserve funds. These are allocated to two Designated
ReseNe Funds:
1) Trading Contingency Reserve Fund. The Trustees believe that £20,000 of unrestricted
reseNes (equating to approximately 6 months, operating expenditure) is an adequate
and appropriate minimum level of reserves for a resilient business model, allowing the
Charity lo continue to provide rehabilitation services in the case of a period of severely
reduced income (e.g. a pandemic).
2) Gym Rèfurbishment Res8rv8 Fund. The Trustees have assigned £200,000 of
unrestricted re8e.rves to be retained for refurbishment of Ihe gym and the gym
equipment. There are currently 20 professional cardiovascular exercise machines which
are in use on a d8ily basis 8nd all except 4 machines are over 7 years old. Currently they
are maintainable but they are showing significant signs of wear. The Trustees want to
anticipate replacing them when the cost of maintaining them becomes uneconomic and
also lo be able to refurt)ish the gym ils81f.
Yeovil Heartbeat's principal Sour￿ of funés is from donations and gym fees from patients
who voluntarily attend our cardiac rehabilitation sessions. We also receive funds from the
profit from our 200 Club, bank interest, fundraising events (e.g. sponsored runs, band
concert and a dog show) and sundry clolhing and book sales.
Yeovil Hearlbeat's principal oulgoings are for gym instructor fees, gym equipment.
maintenance, training. counselling and sundry clothing and expenses.
Yeovil kleartbeat does not have an Investment Policy but we have historically retained 648
ordinary shares in 8arclays Bank.
The principal risk we face is from a severe downturn in atlondees of our cardiac
rehabilitation sessions {e.g. from the pandemic) resulting in revenue loss, whilst having to
mainlain our operating expenses. We have mitigated this risk by allocating a Trading
Contingency Reserve of £20,000.
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Yeovil Heartbeat
Trustees, Annual Report and Financial Statements 2023-24
4) Income and Expenditure Account
Income and Expenditure Account
As at 31 March 2024
2024
2023
Notes
Income
62,697
150.421}
28,640
19,179
Operating Expenses
Operating Income
Interest Received
12,275
3,351
19,461
1,232
Surplus on Operating Activities
Funds Bought Forward LY
15,626
216,794
20,693
196,lOJ
Funds Carried Forward TY
Reserved Funds
232,420
220,000
216,794
210,000
Tradin8 Balance
12,420
6,794
Stocks
1,187
948
Equlty Balance
13,607
7,742
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Yeovil Heartbeat
Trustees, Annual Report and Financial Statements 2023-24
5) Balance Sheet
Balance Sheet
As at 31 March 2024
2024
2023
Notes
Assets
Cash and Cash Equivalents
Accounts Reteiyable
Stocks
245.577
5,043
1,187
216,794
948
Total Assets
251,808
217,742
Liabilitles
Accounts Payable
Accrua Is
1412)
117.788)
Total Liabilities
118,2001
Net Assets
233,608
217,742
Reserves
Trading Contingency RÈserve
Gym Refurbishment Reserve
20,0
200,ODO
10,000
200,000
Total Reserves
220,000
210,000
Equlty Balance
11,608
7.742
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Yeovil Heartbeat
Trustees, Annual Report and Financial Statements 2023.24
6) Notes to the Financial Statements
11 Income from charitable activities as stated above in the Financial Statement.
21 Operating Expenses for charitable activities as stated above in the Financial Statement.
31 1 nterest is received from NatWÈst bank, Manchester Buildi ng Society and 8irmingha m Midshires
Building Society.
41 Cash in hand and cash at banks at beginning of year.
51 Debtors at year end.
61 648 ordinary shares held in Barclays Bank plc at valuation.
71 Creditors at year end,
81 Payment obligatlons for servlces recelved, mainly Gym Instructor fees pending.
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Yeovil Heartbeat
Trustees, Annual Report and Financial Statements 2023-24
7) 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..
1 . Accounting records were not kept in respect of the Society as required by section
130 of the Act., or
2. The accounts do not accord with those records,. or
3. 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.
Signature:
Date:
Narne: Timothy Cooper, ACA ICAEW.
184 St Johns Road
Woking
Surrey
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Yeovil Heartbeat
Trustees, Annual Report and Financlal Statements 2023-24
8) Statement of Trustees, Responsibilities
The trustees are responsible for preparing the Trustees, Report and the financial statements
in accordance with applicable law and United Kingdom Accounting Standards.
The law applicable to charities in England & Wales requires the trustees to prepare financial
stalements for each financial year which give a true and fair view of the state of affairs of the
charity and of the income and expenditure of the charity for that period.
The trustees are responsible for maintaining proper accounting records which disdose with
reasonable accuracy at any time the financial position of the charity and enable them to
ensure that the financial statements comply with the Charitiés Act 2011, the Charity
(Accounts and R8POrts) Regulations 2008 and the provisions of the constitution. They are
also responsible for safeguarding the assets of the charity and hence for taking reasoridble
steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on 9th June 2025 ané signed on their behalf by..
Slgnature:
Date:
Name and posltlon: Ashley Dav5dson
Chair
Signature:
Date:
I￿S
nilLJ
Name and position: Andrew Woods
Secretary
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