Yeovil Heartbeat Charity Registration Number: 1160305 Trustees, Annual Report and Financial Statements for the Year Ended 31 March 2025 Contents l) Adrninistrative Details. 21 Trustees, Annual Report...........................-...... 3) Financial Statement . 41 Income and Expenditure Account.....,..,.,,,,,.,,,,,,,................................................ 51 Balance Sheet . 6} Notes to the Financial Statements.................... 71 Independent examinerfs statement.................................................. 8) Statement of Trustees, Responsibilities..................................... io
Yeovil Heartbeat Trustees, Annual Report and Financial Statements 2024-25 l) Administrative Details Trustees: Ashley Davidson Andrew Woods Anthony Love Rita Hurt Henry Philip Eveleigh Teren Street John Hayward Paul Hurt Janet Margat Bamford Chair Secretary Treasurer Appointed 0911212024 Contact addss. Yeovil Heartbeat, Cardiac Rehabilitstion Dept, Yeovil District Hospital, Higher Kingston, Yeovil BA214AT Independent Examiner: Mr Timothy Cooper, ACA ICAEW. PagÈ 2
Yeovil Heartbeat Trustees. Annual Report and Financial Statements 2024-25 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 work 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 guidance issued by the Charity Commission. Management decisions are taken by the trustees in their regular rneetings. Decisions are informed by advi from the YDH Cardio Department staff and from the team of Phase 4 qualified gyrn instructors. Regular liaison takes place between these bodies. Objectives and Activities: The purpose of the chariiy is to support the work of the Cardiac Rehabilitation Unit at YDH, especially the Phase 4 exercise classes, which allow cardiac patients in the I181 area a lifelong option to maintain their cardiac health. The department provides Phases 1, 2, 3 and 4 of cardiac rehabilitstion frorn 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 Eddy Turner. here equipment needs replacinglrenewing he will refer to the trustees, The payment rale 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 information, 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 see 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 cardiac Page 3
Yeovil Heartbeat Trustees, Annual Report and Financial Statements 2024-25 health. Many patients retum for the voluntary Phase 4 sessions to maintain and further improve their fitness. Despite the recent hospital rnerger, we continue to support the local Acute coronary syndrome, arrhythmia and heart failure teams assisting with training costs that the newly merged Trust is unable to provide. This ensures that the Specialist nurses are fully up to date with the latest research and treatsnent options in their field. There were no major fundraising events held this year, but significant contributions were received from the 2024 Yeovil Rotary Club Community Xmas draw,. Taryn Monk's sponsored marathon and the sale of surplus Yeovil Heartbeat clothing and other merchandise by Eddy Turner. The 200 Club continues to provide a regular monthly income. Donations from current and ex patients also add valuable amounts. Plans are advanced to hold a summer 2025 grand prize draw in collaboration wth Yesterday's Farming and to once again link up with the Yeovil Concert Band to hold an Xmas 2025 charity concert and raffle. Page 4
Yeovil Heartbeat Trustees, Annual Report and Financial Statements 2024-25 3) Financial Statement The financial position of Yeovil Heartbeat is strong with a trading balance of £24,736 at the year end and with £220,000 held in Designated Reserves. The Reserves Policy, which was unanimously approved by the trustees at their meeting on 8th April 2024, sets out why Yeovil Heartbeat holds its particular level of reserves and how the Trustees seek to ensure fi'nancial stability and sustainability. Retaining a floating fund of approximately £20,000 for day-to-day trading, at present the Charity has £220,000 in Unrestricted ReseNe funds. These are allocated to two Designated Reserve Funds: 1) Trading Contingency Reserve Fund. The Twstees believe that £20,000 of unrestricted reserves (equating to approximately 6 months, operating expenditure) is an adequata and appropriate minimum level of reserves for a resilient business model, allowing the Charity to continue to provide rehabilitation ServIS in the case of a period of severely reducèd income (e.g. a pandemic). 2) Gym Refurbishment Reserve Fund. The Trustees have assigned £200,000 of unrestricted reserves to be retained for refurbishment of the gym and the gym equipment. There ar8 currently 20 professional cardiovascular exercise machines which are in use on a daily basis and all except 4 machines are over 8 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 to b8 able to refurbish the gym itS61f. Yeovil Heartbeat's principal Sour of funds is from donations and gyrn fees from patients who voluntarily attend our cardiac rehabilitation sessions. We also receive funds from the profit frorn our 200 Club, bank interest, fundraising events (e,g. sponsored runs, band concert and raffles),sundry clothing sales and book sales. Yeovil Heartbeat's principal outgoings are for gym instructor fees, gym equipment, maintenance, training, counselling and sundry clothing and expenses. Yeovil Heartbeat does not have an I nvestment Policy but we have historically retained 648 ordinary shares in Barclays Bank. The principal risk we face is from a severe downturn in attendees of our cardiac rehabilitation sessions (e.g. from a pandemic) resulting in revenue loss, whilst having to maintain our operating expenses. We have mitigated this risk by allocating a Trading Contingency Reserve of £20,000. Page 5
Yeovil Heartbeat Trustees, Annual Report and Financial Statements 2024-25 4) Income and Expenditure Account Income and Expenditure Account As at 31 March 2025 2025 2024 Notes Income Operating Expenses 57.613 150,4831 62,697 150,4211 Operating Income Interest Received 7,129 3,282 12,275 3,351 Surplus on Operating Activities Funds 8ought Forward LY 10,411 232,420 15,626 216,794 Funds Carried Forward TY Reserved Funds 242,832 220,000 232,420 220,000 Tradlng Balance 22,832 12,420 stocks 1,904 1,187 Equity Balance 24,736 13,607 Page 6
Yeovil Heartbeat Trustees. Annual Report and Financial Statements 2024-25 5) Balance Sheet Balance Sheet As at 31 March 2025 2025 2024 Notes Assets Cash and Cash Equivalents Accounts Receivable Stocks 244,980 2,494 1,904 245,577 5,043 1,187 Total Assets 249,378 251,808 Liabilltles Accounts Payable Accruals 12,042) 12,600 {4121 117,7881 Total Liabilities 14,642} (18,200) Net Asset5 244,736 233,608 Reserves Trading Contingency Reserve Gym Refurbi5hrnent Reserve 20,000 200,000 20,000 200,000 Total Reserves 220,000 220,000 Equlty Balance 24,736 13.608 Page 7
Yeovil Heartbeat Trustees, Annual Report and Financial Statements 2024-25 6) Notes to the Financial Statements l) Income from charitable activities as stated above in the Financial Statement. 2) Operating Expenses for charitable activities as stated above in the Flnancial Statement. 31 Interest Is reteived from Natwest bank and Manchester Building Society. We also hold new accounts with Cambridge and Counties Building Society and Redwood Bank but no interest has been paid in this financial year. 4) Cash in hand and cash at banks at beginning of year. 51 Debtors at year end. 6) 648 ordinary shares held in Barclays Bank plc at valuation. 7) Creditors at year end. 8) Payment obligations for servlces received, mainly Gym Instructor fees pending. Page 8
Yeovil Heartbeat Trustees, Annual Report and Financial Statements 2024-25 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 conceming the fom 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 concems and have come across no other matters in connection with the IivaiiiiiiThpxaminab'on to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signature: th Date.. 14 January 2026 Name: Timothy Cooper, ACA ICAEW. 184 St Johns Road Woking Surrey Page 9
Yeovil Heartbeat Trustees, Annual Report and Financial Statements 2024-25 8) Statement of Trustees, Responsibilities The trusiees are responsibSe for preparing the Trustees, Report and the financial statements. In accordan wtth applicable law ar United Kingdom Accounting Slandards. I he lav(voptibtelttr chattieE'in Englanth&Wales' requires the trustees to prepare financlal statements for each financial year which give a true and fair view of the state of affairs of the charity and of tha income and expendtture of the charity for that period. The trustees are responsible for maintaining proper accountÈng records which disclose wth reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statsments comply with the Charities Act 2011. the Chanty (Accounts and Reports} Regulations 2008 and the provisions of the constitution. They are also re8ponsible for safeguarding the 2ssets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on 14th January 2026 and signed on their behalf by". Sl9nature: Dats: Ir Nam& and position: Ashley Davidson Chair Signature. Date: Name and position: Andrew Woods Secretary Page 10