Cardioryopat the hrt MsCIE thar IP4 cardiovopathY UK the heart muscle charity 20 Annual 23 Report The difference we made in 2023
We’re Cardiomyopathy UK
We save and improve the lives of people affected by cardiomyopathy. Our vision is a world where everyone affected by cardiomyopathy should live a long and fulfilling life.
In pursuit of this vision:
We raise awareness of the condition so that more people know the signs and symptoms and can be diagnosed early.
We campaign to improve access to quality treatment that meets the needs of people with cardiomyopathy.
We promote clinical research to advance the development of new treatments and provide hope for the future.
We support people affected by cardiomyopathy, every step of the way, so that nobody has to face cardiomyopathy alone.
1 in 250 people have cardiomyopathy. That’s approximately 266,000 people in the UK currently living with the condition.
Contents
| Reference and administrative details | 4 |
|---|---|
| A message from our chair | 5-6 |
| Trustees’ report | 8-21 |
| Achievements in 2023 | 9-12 |
| Funding our work | 13-15 |
| Trustee’s and ofcers | 16 |
| Structure governance and management | 17 |
| Financial review | 18 |
| Partnerships | 19 |
| Plans for future periods | 20-21 |
| Independent auditors’ report | 23-27 |
| Statement of fnancial activities | 28-29 |
| Statement of cash fows | 31 |
| Notes to the fnancial statements | 32-48 |
Administrative details
Trustees:
Bankers:
R Sutton, (Chair) E Jarman I McPherson OBE S Cornish MBE S Kirkham MC M Bloom P Thomas T Bueser
Charity Aid Foundation Limited Kings Hill West Malling Kent, ME19 4TA
Lloyds 82 High Street Rickmansworth Hertfordshire, WD3 1AG
A Smith M Rees, (Treasurer) G Favier
T Amiss
Senior Management / Leadership Team
Mr J. Rose, Chief Executive Officer
Charity Reg Number:
1164263
Registered Office:
75a Woodside Road Amersham Buckinghamshire HP6 6AA
Auditor:
Hodson & Co Wiston House, 1 Wiston Avenue Worthing West Sussex BN14 7QL
4
A Message From Our Chair
At the beginning of the year, we participated in International Women’s Day by celebrating our founder, Carolyn Biro. Through Carolyn’s dedication, drive and determination to help others, Cardiomyopathy UK was established. Carolyn’s vision of expert support so that everyone affected by cardiomyopathy can lead long and fulfilling lives, remains at the core of the charity’s work today.
The world of cardiomyopathy is changing, with recent new and exciting developments in research and drug development leading to greater understanding of cardiomyopathy and its impact. Now is the time for the charity to be more ambitious in what we aim to achieve. Throughout the year we have been busy working on a new and ambitious five-year strategic plan. The plan will come into effect in January 2024 and will run through to December 2028.
Having provided evidence from our national survey, focus groups, helpline and presentations, in June, we welcomed the long-awaited good news that NICE (National Institute for Health & Care Excellence) had approved Mavacamten, the first treatment specifically for hypertrophic cardiomyopathy with obstruction, and that people would be able to access the drug on the NHS.
In August we welcomed the publication of the new European Society of Cardiology Guidelines for Clinical Practice on the Management of Cardiomyopathies. The guidelines are aimed at helping healthcare professionals to diagnose and manage patients with cardiomyopathies of all ages, and to provide a practical diagnostic and treatment framework for patients and their relatives. The challenge will be to make sure GPs read the guidelines and work with them.
Many people do manage and live well with cardiomyopathy, however we also recognise that there are those who may be newly diagnosed or are facing the scary world of heart failure and heart transplant assessment. Our conference in November “Engaging Minds, Empowering Action” was attended by circa three hundred people, from newly diagnosed to those who have been living with the condition for many years. Delegates were able to learn from a wide range of sessions and engage with an extensive team of expert speakers. The charity has continued to be a lifeline for those affected by cardiomyopathy for more than thirty years. That said, we know because our members tell us, there is much more to be done.
We continue to play an active part in the international cardiomyopathy community, enabling us to ensure people affected by cardiomyopathy have a stronger voice. We are one of twenty four member charities that span across fourteen different countries that form the Cardiomyopathy Patient Council, which is part of Global Heart Hub that brings together over one hundred patient-led heart disease charities from across the globe. As part of this group, we played a leading role in delivering an international awareness campaign and produced international standards in involving people with cardiomyopathy in research activity.
5
A Message From Our Chair
We continue to support and work with ICoN, a newly formed charity chaired by our President, Perry Elliott. ICoN is made up of a network of healthcare professionals. We assisted with the development of their strategic plan, securing funding and creation of their policy manifesto.
Our team of trustees bring with them a wide range of knowledge, experiences and skills. During the year we welcomed three new trustees, bringing our numbers to twelve and strengthening the board with their skills in finance and marketing. Our trustees work hard to achieve best practice in charity governance, and take the lead in monitoring our progress against plans to ensure that we deliver on time and on budget. As well as attending board meetings, trustees participate in support groups and sub-groups and work directly with a member of the senior management team.
We will always be truly grateful for the dedication, enthusiasm and passion our volunteers, supporters, staff, professionals, and many others give to the charity. With our army of support, we will continue be there for anyone whose life is affected by cardiomyopathy. Through the direction of our Chief Executive, the charity continues to be in good shape financially. Grateful thanks go to our grant givers, community and event fundraisers and all who support the work of the charity through their generous donations.
I would like to take this opportunity to thank and commend my fellow trustees, presidents, staff, volunteers, and professionals for their time and the work they have undertaken this past year. Together they enable us to continue to support our community and make a difference in people’s lives.
As we begin the process of delivering year one of the charity’s ambitious five-year strategic plan, I remain optimistic for the future and look forward to the new and exciting opportunities that lie ahead. There is still a great deal of work to be done to bring about positive change in the lives of our cardiomyopathy community.
Rita Sutton, Chair of the Board of Trustees
6
Cardior)yopathy UK the heart muscle charity Trustees, report
Objectives & Activities
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors’ report of the charitable company for the year ended 31 December 2023.
Public Benefit
Cardiomyopathy UK confirms that in setting its programme of activity, it has had due regard to the Charity Commission’s general guidance on public benefit. The programme of activity also conforms to the charity’s charitable objectives and aims. No persons are excluded from the work of the charity on grounds of gender, race or religion.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
8
Achievements in 2023
Providing support and information
Our support and information services aim to help people affected by cardiomyopathy feel more informed, less scared, and better able to cope day to day. Together, our services tackle the physical, emotional and practical impact that cardiomyopathy has on a person and on their loved ones.
In 2023, we were able to continue to provide a mixture of online and face-toface support groups providing opportunities for individuals affected by cardiomyopathy to meet others in a supportive environment. These groups, led by our team of volunteers, held over 220 meetings during the year. One attendee told us,
“It felt like a great safe space which allowed people to release their emotions and allowed us all to support each other and give hope and reassurance.”
As well as our online and face to face support groups, our peer support volunteers spoke to 265 people during the year and our Facebook volunteers helped to ensure that this unique source of support remained a safe, informative and supportive forum for over 2,000 active members.
Our Cardiomyopathy UK Specialist Nurses continued to be busy on the Helpline supporting people over the phone and online. Feedback from service users continues to be overwhelmingly positive.
As ever, one of the highlights of the year was our National Conference. We had a packed programme with sessions covering all aspects of cardiomyopathy and providing participants with the knowledge, support and motivation needed to feel empowered and better able to cope with their cardiomyopathy. Feedback from the event was overwhelmingly positive. We were especially pleased that so many attendees told us they felt more confident about living with their condition after attending the meeting.
“I felt a lot of support at the conference today and this helps me navigate the twists and turns of life with cardiomyopathy”
“I am more positive for the future and for my family members and the younger generation”
9
Achievements in 2023
Raising awareness
During the year we once again joined with cardiomyopathy charities from around the world as part of an international awareness campaign. This campaign was focused on the role of genetics in cardiomyopathy and the importance of knowing the history of heart disease in your family. Work as part of this international campaign enabled us to reach more people than ever before.
As well as joining in with international campaigns, we continued to create and share personal stories of people living with cardiomyopathy on our website, in our MyLife Magazine and across our social media channels. This approach proved to be popular with more people engaging with and sharing our important awareness messages.
69% increase in engagement on Instagram
76% increase in engagement on X
10
Achievements in 2023
Promoting research
2023 saw the charity build on its work to promote research that aims to make a real and lasting difference to the lives of people affected by cardiomyopathy. One way in which we do this is through ensuring that the experiences of people with cardiomyopathy help to shape clinical research projects. The largest of these projects is the British Heart Foundation funded CureHeart project where we continued to play an active role as part of the research team. In addition to CureHeart, and a range of other smaller research projects, we continued to promote the HeartHive platform, encouraging more people to sign up and be connected to research opportunities.
As we take our first steps to become a funder of research, we want to make sure that the work that we support addresses the needs of our community. In 2023 we worked with the James Lind Alliance on a priority setting partnership, bringing together our community, researchers and other stakeholders to identify and agree the top ten research priorities. The results of this work will be published in 2024 and will be used to set our future research strategy.
Advocating for people affected by cardiomyopathy
Our team of Change Makers volunteers continued to work hard during the year to help improve care and treatment for people affected by cardiomyopathy. We are incredibly thankful for their hard work in ensuring that the needs of people with cardiomyopathy are recognised by those who manage and deliver care for our community.
“I volunteered for the Change Maker programme so I could speak up on behalf of those whose journey through the diagnosis and care pathway wasn’t as good as mine. I’ve met some amazing people working to deliver better outcomes for people living with cardiomyopathy. It’s great to be involved with an organisation that really values the patient voice and to see how policy work can improve lives.” – Andy, Change Maker volunteer
During the year we also played an important role in the process of choosing which medications are available to people through the NHS. We provided evidence to the committees reviewing Mavacamten, for hypertrophic cardiomyopathy with obstruction and Tafamidis for amyloidosis cardiomyopathy. We are pleased to say that both these drugs have now been approved and for the first time ever, medication specifically for people with certain types of cardiomyopathy is now available.
Our approach has always been to work in collaboration with a wide range of stakeholders on projects and initiatives that we believe help us to advance the goals set out in our Change Agenda. In 2023 we continued this way of working and played an important part in initiatives such as The Alliance for Heart Failure, The Health and Social Care Alliance Scotland and work to address the palliative care needs of people with heart failure.
11
Achievements in 2023
Working with healthcare professionals
During the year we continued to provide learning opportunities for health care professionals to ensure that they are better able to diagnose and treat cardiomyopathy. We were able to expand our online learning platform and develop new content focusing on genetics and arrhythmogenic cardiomyopathy which will be launched in 2024.
Planning for the future
During the year Trustees led the process of developing our new five-year strategic plan.
As part of this process, we consulted widely with our volunteers and service users as well as with healthcare professionals. This is perhaps the most ambitious strategic plan that we have produced and one which reflects our growing confidence and increasing ability to respond to the changing environment and, in doing so, do more for our community. You can read the plan at:
www.cardiomyopathy.org/our-five-year-strategy
12
Funding our work Income & expenditure
Income
----- Start of picture text -----
Community &
challenge events
39%
Donations
16%
Legacies
Total income:
19%
£1,053,351
Trusts & foundations
13%
Companies
11%
Other
2%
----- End of picture text -----
----- Start of picture text -----
Expenditure
----- End of picture text -----
Providing support 39% Raising funds 33% Research & campaigns 7% Public & professional education 15% Governance & administration 6%
----- Start of picture text -----
Total
expenditure:
£921,272
----- End of picture text -----
13
Funding our work
We are delighted to report that 2023 was another successful year for fundraising. Despite the continued challenges of the fundraising environment, income for the year grew to £1,053,351 thanks to the generosity of our supporters and commitment of our volunteer fundraisers. Unrestricted income for the year grew considerably, mainly due to the receipt of a large legacy towards the end of the year.
2023 saw a rapid growth in our challenge events portfolio, with our biggest London Marathon team to date, where sixty-two runners ventured across the capital raising £164,000. The Great North Run had eleven taking part raising £10,000 and October was our biggest month for challenge events with eighteen participating across a range of events including the Royal Parks, Manchester Half and Yorkshire 3 Peaks. We had several longstanding family supporters rise to the challenge, including one family who completed the London Classics raising just under £5,000.
The cost-of-living crisis continued to impact community fundraising, where we saw fewer community events being organised, but we did see a rise in the amount of income they raised - for example, a gala raising over £7,000, a football match raising over £4,000 and a coffee morning raising £4,500.
We are so grateful for our regular fundraising families who really help make a difference and this year we had four of our longstanding community fundraisers hit huge milestones - one family reached £100,000 since they began supporting us over ten years ago. Two reached £30,000 and one reached £50,000.
As digital fundraising grew, we were pleased to be able to create and launch our first digital fundraising pack, with downloadable fundraising resources and ideas to help our fundraisers. We also created our Much Loved ‘Always in our Hearts’ page which is a digital platform where people can pay tribute to their loved ones.
14
Funding our work
Fundraising responsibly
We are committed to raising funds in a responsible and sustainable way. Our fundraising is conducted either directly by our fundraising staff team or by volunteer fundraisers under their support and guidance. We do not use the services of third-party professional fundraisers or fundraising companies. We work to ensure that our fundraising activity meets the best practice standards laid out by the Charity Commission and the Fundraising Regulator and in 2023 we received no complaints regarding our fundraising activity. Our work is also conducted in line with all GDPR regulations and we are signed up to the Fundraising Preference Service. The Fundraising Preference Service’s purpose is to guard against unreasonable intrusion on privacy, unreasonable persistent approaches for donations or placing undue pressure on a person to give money or other property.
Thank you
We want to say a huge “thank you” to every single fundraiser, donor and volunteer who has raised funds that enable us to continue saving and changing the lives of people affected by cardiomyopathy, now and in the future. We would also like to give our heartfelt thanks for every donation made in memory of a loved one, including funeral collections, in memory events, donations and gifts given in Wills. These donations create a lasting legacy by moving us a step closer towards our vision of a world where everyone affected by cardiomyopathy can live a long and full life. In 2023 we were also grateful for new and continued financial support from The National Lottery Community Fund, The Masonic Charitable Foundation, Browns Solicitors and Norton Rose Fulbright as well as for pro bono support from Mayer Brown.
15
Trustees & Officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees:
I McPherson OBE
R Sutton, (Chair)
E Jarman
S Cornish MBE (appointed 1 July 2023)
S Kirkham MC
M Bloom (appointed 18 March 2023)
P Thomas
T Bueser
A Smith
M Rees, (Treasurer) (appointed 18 March 2023)
G Favier
- T Amiss
Senior Management / Leadership Team
Mr J. Rose, Chief Executive Officer
----- Start of picture text -----
16
----- End of picture text -----
Structure, governance & management
Nature of governing document
The charity is controlled by its governing document and constitutes a charitable incorporated organisation. The charity is governed by its constitution adopted on 5 November 2015.
Recruitment and appointment of trustees
The charity continues to review and, where necessary, improve its trustee induction and training resources to ensure that new trustees are equipped to support the work of the charity to their maximum ability. Appropriate policies and procedures have been put in place to ensure good governance including financial management, data protection and employment practice. Trustees maintain a risk register and work with the Chief Executive to ensure that strategies are in place to mitigate against identified risks.
17
Financial Review
Trustees are pleased to report that the charity was able to sustain a strong level of income during the financial year due to the continued efforts of the charity’s volunteer fundraisers and the continued generosity of its supporters.
During the year, the charity was also able to build its un-restricted reserves in anticipation of making significant investments in its research, policy and marketing activity in 2024 in line with the charity’s five year strategic plan.
The charity recognises that the biggest financial challenge in 2024 will be to secure ongoing project funding for a number of core support services where current funding is due to come to an end. The fundraising team will be focused on this along with meeting the challenge of raising additional income to fund the charity’s research grant making ambitions.
18
Partnerships
The charity works closely with expert clinicians from a number of NHS Trusts to help ensure that its work is clinically appropriate and that it can reach as many people with cardiomyopathy as possible.
During the year the charity continued to work with its President, Prof. Perry Elliott to develop the International Cardiomyopathy Network (ICoN), a registered UK charity. Cardiomyopathy UK’s Chief Executive supported ICoN in their efforts to raise funding from corporate partners and provided strategic advice and patient insight as part of a shared commitment to improving the level of cardiomyopathy knowledge among clinicians, developing best practice and fostering research that will make a real difference to the lives of people with the condition. During the year ICoN made a payment of £15,000 to the charity to cover the costs incurred in providing this support.
The charity continued to have a positive relationship with The British Heart Foundation, The Pumping Marvellous Foundation, Gene People, Heart UK and a number of other charities that provide support and information relating to heart diseases. Where possible, the charity works in collaboration with these charities.
During 2023 the charity received funding from five pharmaceutical companies (AstraZeneca, Pfizer, Tenaya, Cytokinetics and Bristol Myers Squibb) who have developed or who are developing treatments used by people with cardiomyopathy. The total income from these companies was £161,700; under 15% of the charity’s total income. Income from these sources covered the costs associated with the charity’s medical education project, advocacy project, research and awareness raising, national survey and service delivery work. All funding was provided in accordance with the Association of British Pharmaceutical Industry code of practice and the charity’s own policy on working with the pharmaceutical industry which is available at:
www.cardiomyopathy.org/about-us/our-approach
This policy is designed to ensure the charity’s independence.
Policy on reserves
The charity aims to maintain unrestricted reserves at a level that equates to around six to nine months of normal unrestricted expenditure. Trustees believe this to be a prudent amount given that the charity operates in a competitive environment and, as the leading specialist provider of support services for people affected by cardiomyopathy, there is a duty to ensure that it can maintain core services for individuals in need.
Towards the end of the year the charity was notified of a large legacy of £154K. This resulted in unrestricted reserves increasing to over 12 months of normal expenditure at the end of the year. Trustees, however, are aware that the charity faces increased unrestricted costs in 2024 as a number of restricted funding grants are due to come to an end during the year and costs will be covered from unrestricted funds. Trustees have also agreed to invest in the charity’s research and policy work and its marketing and communication work in 2024 and subsequently expect that unrestricted reserves will return to the six to nine month target by the end of 2024.
19
Plans for future periods Aims & key objectives for future periods
Supporting people with cardiomyopathy and their loved ones
We believe the best way to help people affected by cardiomyopathy is to empower them with the information, skills and support they need to feel in control of their lives. Our goal is to be the most comprehensive and trusted provider of support and information for people living with cardiomyopathy and empower all our community so that everyone has the tools they need to live with the condition.
To achieve this, in 2024 we will continue to provide accurate, accessible and up to date information, resources and learning opportunities for all ages and hope to further extend our network of peer support opportunities both face to face and online.
We have always recognised that cardiomyopathy has a significant practical and emotional impact. That is why in 2024 we will be piloting a new professionally led mental health service and increasing the number of people that we can advise on accessing personal independence payments.
Working with health and social care professionals
We want to be the most respected and accessible source of information for health and social care professionals regarding the diagnosis and treatment of cardiomyopathy.
In 2024, we will continue our work to foster a knowledgeable and engaged health and social care community that is better able to serve people affected by cardiomyopathy. In particular, we plan to provide two new online learning modules to our professional education platform and towards the end of the year, return to providing face to face education and training meetings for healthcare professionals, something that we have not done since the COVID-19 pandemic.
Promoting & shaping the most impactful research
Over the last few years we have been doing more to ensure that we can be a leading driver of the highest quality research that delivers real benefits to our community.
We will continue to shape research projects through providing the insights of people with lived experience of cardiomyopathy and will run our bi-annual state of cardiomyopathy national survey.
Trustees also hope to begin the process of providing research funding to projects that focus on our research priorities. We will be working with key stakeholders and, with the support of the Association of Medical Research Charities, putting in place the structures and funding needed to make research grants in line with best practice.
20
Plans for future periods Aims & key objectives for future periods
Raising awareness
Raising public awareness is the key to ensuring that people who may have cardiomyopathy or who are at risk of developing the condition seek medical help. When people are aware of the signs and symptoms of cardiomyopathy and the history of heart disease in their family, they are more likely to seek help, get diagnosed and treated sooner, lowering the risk of a sudden cardiac event.
In 2024 we plan to join with the international network of cardiomyopathy charities to lead on an international awareness raising campaign which will highlight the signs and symptoms of cardiomyopathy, the importance of knowing your family’s “heart history” and encourage people to seek help.
We will also invest in our marketing and communications work to develop further cardiomyopathy awareness raising materials, case study videos and digital assets. We will be doing more to seek media opportunities and use our own social media platforms to reach as many people as possible and especially individuals and communities that we have not reached before.
Shaping local and national policy throughout the UK
We want to make it simpler and quicker to access appropriate support and treatment and in 2024 we will continue to work with the people who play a role in commissioning and managing the services that people with cardiomyopathy use and who set the policies that have an impact on their lives.
As services and NHS structures in Scotland differ from those in the rest of the UK, in 2024 we aim to do more to ensure that people in that region get the support that they need. We will be working to increase our networks with politicians, health service leaders and other stakeholders in Scotland. We will also continue to strengthen our network of advocacy volunteers throughout the UK to ensure that the voice of people with cardiomyopathy is heard.
Our part in the international community
In 2024 we will continue to engage with the international cardiomyopathy community by playing a significant role as members of Global Heart Hub’s Cardiomyopathy Council, the international network of cardiomyopathy charities.
We also plan to continue our work to provide support and advice to the International Cardiomyopathy Network (ICoN), a network of cardiomyopathy healthcare professionals and scientists. We will work with them to develop their programmes for 2024 and beyond and ensure that their work meets the needs of the cardiomyopathy community.
21
Statement of trustees’ responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity , (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and 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, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements 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 accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity’s auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
The annual report was approved by the trustees of the charity on 8 June 2024 and signed on its behalf by:
R Sutton Trustee
22
Cardior)yopathy UK the heart muscle charity Auditor's report
Auditor’s Report
Opinion
We have audited the financial statements of Cardiomyopathy UK (the ‘charity’) for the year ended 31 December 2023, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and applicable law (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity’s affairs as at 31 December 2023 and of its incoming resources and application of resources for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
24
Auditor’s Report
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report Trustees’ Report.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the Trustees’ report is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of trustees’ responsibilities (set out on page 22), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
25
Auditor’s Report
Auditor responsibilities for the audit of the financial statements
We have been appointed as auditor under Section 144 Charities Act 2011 and report in accordance with the Act and relevant regulations made of having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
-
Obtaining an understanding of the legal and regulatory frameworks that the charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements;
-
Enquiry of management to identify any instances of known or suspected instances of fraud;
-
Enquiry of management and those charged with governance around actual and potential litigation and claims;
-
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates were indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business;
-
Reviewing minutes of meetings of those charged with governance; and
-
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards.
In addition, as with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect noncompliance with all laws and regulations. If a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.
26
Auditor’s Report
Auditor responsibilities for the audit of the financial statements (cont)
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities.
This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity’s Trustees, as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Matthew Hodson FCA
For and on behalf of Hodson and Co, Statutory Auditor
Wiston House 1 Wiston Avenue Worthing West Sussex BN14 7QL
Date: 8 June 2024
27
Statement of financial activities for the year ended 31 December 2023
| Income and Endowments from: Note Donations and legacies 3 Charitable activities 4 Investment income 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Other expenditure 8 Total expenditure Net income (expenditure) Net movements in funds Reconciliation of funds Total funds brought forward Total funds carried forward 19 |
Unrestricted funds £ 839,256 - 5,768 845,024 (300,418) (323,988) (58,717) (683,123) 161,901 161,901 516,974 678,875 |
Restricted funds £ 175,627 32,700 - 208,327 (3,246) (234,903) - (238,149) (29,822) (29,822) 188,908 159,086 |
Total 2023 £ 1,014,883 32,700 5,768 1,053,351 (303,664) (558,891) (58,717) (921,272) 132,079 132,079 705,882 837,961 |
Total 2022 £ 895,732 135,208 193 |
|---|---|---|---|---|
| 1,031,133 | ||||
| (289,164) (540,890) (62,159) |
||||
| (892,213) | ||||
| 138,920 | ||||
| 138,920 566,962 |
||||
| 705,882 |
The notes on pages 32 to 48 form an integral part of these financial statements
28
Statement of financial activities for the year ended 31 December 2023
| Income and Endowments from: Donations and legacies Charitable activities Investment income Total income Expenditure on: Raising funds Charitable activities Other expenditure Total expenditure Net income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward Note 3 4 5 6 7 8 19 |
Unrestricted funds £ 650,719 36,808 193 687,720 (287,838) (219,691) (57,109) (564,638) 123,082 (18) 123,064 393,910 516,974 |
Restricted funds £ 245,013 98,400 - 343,413 (1,326) (321,199) (5,050) (327,575) 15,838 18 15,856 173,052 188,908 |
Total 2022 £ 895,732 135,208 193 |
|---|---|---|---|
| 1,031,133 | |||
| (289,164) (540,890) (62,159) |
|||
| (892,213) | |||
| 138,920 - |
|||
| 138,920 566,962 |
|||
| 705,882 |
All of the charity’s activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 19.
The notes on pages 32 to 48 form an integral part of these financial statements
29
Balance Sheet as at 31 December 2023
| Note 14 15 16 17 19 19 Net current assets Net assets Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand Creditors: Amount falling due within one year Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds |
2023 £ 17,320 322,098 575,185 897,283 (76,642) 820,641 837,961 159,086 678,875 837,961 |
2022 £ 4,882 269,433 489,516 |
|---|---|---|
| 758,949 (57,949) |
||
| 701,000 | ||
| 705,882 | ||
| 188,908 516,974 |
||
| 705,882 |
The financial statements on pages 28 to 48 were approved by the trustees, and authorised for issue on 8 June 2024 and signed on their behalf by:
R Sutton Trustee
The notes on pages 32 to 48 form an integral part of these financial statements
30
Statement of Cash Flows for the Year Ended 31 December 2023
| Note 17 Net cash fows from operating activities Cash fows from operating activities Net cash income Adjustments to cash fows from non-cash items Depreciation Investment income Working capital adjustments (Increase)/decrease in debtors Increase/(decrease) in debtors Cash and cash equivalents at 31 December 15 Net cash fows from investing activities Cash fows from investing activities Interest received Acquisitions of tangible assets Net increase in cash and cash equivalents Cash and cash equivalents at 1 January |
2023 £ 132,079 3,852 (5,767) 130,164 96,192 18,692 575,185 (52,664) (10,523) (16,290) 5,767 489,516 85,669 |
2022 £ 138,920 5,525 (193) |
|---|---|---|
| 144,252 (14,056) 4,232 |
||
| 134,428 | ||
| (1,536) 193 |
||
| (1,343) | ||
| 356,431 133,085 |
||
| 489,516 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 32 to 48 form an integral part of these financial statements
31
Notes to the financial statements for the Year Ended 31 December 2023
1. Charity status
Cardiomyopathy UK is a charity limited by guarantee and incorporated in England and Wales. The address of its registered office is:
75A Woodside Road Amersham Buckinghamshire HP6 6AA
These financial statements were authorised for issue by the trustees on 8 June 2024.
2. Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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.
Basis of preparation
Cardiomyopathy UK 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 notes.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates. All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.
32
Notes to the financial statements for the Year Ended 31 December 2023
Going concern
The finance statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the levels of reserves for the charity to be able to continue as a going concern.
Key sources of estimation uncertainty
Critical accounting judgements and key sources of estimation uncertainty The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of the assets and liabilities within the next financial year are addressed below.
Useful economic lives of tangible assets:
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect the current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. The carrying amount is £17,318 (2022 -£4,880).
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
33
Notes to the financial statements for the Year Ended 31 December 2023
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Gift aid
Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Taxation
The charity is exempt from tax on its charitable activities. The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable entity for UK Tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
34
Notes to the financial statements for the Year Ended 31 December 2023
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Computer equipment
Depreciation method and rate
variable rates on reducing balance
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme. Contributions payable to the charity’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
35
Notes to the financial statements for the Year Ended 31 December 2023
Financial instruments
Classification
The charity has applied the provisions of Section 11 “Basic Financial Instruments” and Section 12 “Other Financial Instrument Issues” of FRS 102 to its financial statements.
Recognition and measurement
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
36
Notes to the financial statements for the Year Ended 31 December 2023
3. Income from donations and legacies
| Donations and legacies; Donations legacies Grants, including capital grants; Grants Fundraising |
Unrestricted funds general £ 35,157 195,068 839,256 60,800 548,231 |
Restricted funds £ - - 175,627 175,627 - |
Total 2023 £ 35,157 195,068 236,427 548,231 |
|---|---|---|---|
| 1,014,833 |
| Donations and legacies; Donations legacies Grants, including capital grants; Grants Fundraising |
Unrestricted funds general £ 143,430 95,986 650,719 14,000 397,303 |
Restricted funds £ - - 245,013 245,013 - |
Total 2022 £ 143,430 95,986 259,013 397,303 |
|---|---|---|---|
| 895,732 |
37
Notes to the financial statements for the Year Ended 31 December 2023
| Grants included above are as follows: Browns Solicitors - Helpline Browns Solicitors - Advocacy Alexander Jansons Fund Note Big Lottery Fund - Community Peer Support Max’s Foundation Masonic Charitable Fund Burdett Trust Arrhythmogenic ACT CAF Resilience Fund CAF Main Fund The Moss Family Charitable Trust DHPA Project National Survey project Pfzer advocacy AstraZeneca (MedEd) BLF Tenaya The Norton Rose Fulbright Charitable Foundation |
Unrestricted £ - - - - - - - - - - - - - - - - 40,800 20,000 60,800 |
175,627 Restricted £ 30,000 - - - - 20,000 - - - - - - 35,000 26,700 10,000 53,927 - - |
236,427 2023 Total £ 30,000 - - - - 20,000 - - - - - - 35,000 26,700 10,000 53,927 40,800 20,000 |
2022 Total £ 30,000 50,400 35 44,918 14,776 20,000 2,306 57,628 10,000 14,950 1,000 13,000 - - - - - - |
|---|---|---|---|---|
| 259,013 |
38
Notes to the financial statements for the Year Ended 31 December 2023
4. Income from charitable activities
| Research Providing support Public and medical education Research 5. Investment income Interest receivable and similar income; Interest receivable on bank deposits Total for 2023 Total for 2022 |
36,808 Unrestricted funds general £ - 36,808 - |
98,400 Restricted funds £ 32,700 Restricted funds £ 21,100 15,000 62,300 Unrestricted funds general £ 5,768 5,768 193 |
Total 2023 £ 32,700 |
|---|---|---|---|
| Total 2022 £ 21,100 51,808 62,300 |
|||
| 135,208 | |||
| Total funds £ 5,768 |
|||
| 5,768 | |||
| 193 |
39
Notes to the financial statements for the Year Ended 31 December 2023
6. Expenditure on raising funds
a) Costs of generating donations and legacies
| Costs of generating donations and legacies Breakdown of costs: Postage and stationery Sundries Event costs Marketing Travel and subsistence Computer Recruitment Staf training Rent Professional fees Donation charges Bank charges Subscriptions Depreciation Staf costs Rates and water Insurance |
Direct Costs £ 303,664 |
Total 2023 £ 303,664 2023 £ 2,173 1,391 47,108 11,364 887 3,952 1,027 757 10,526 1,198 19,445 315 4,941 1,139 303,664 196,410 598 433 |
Total 2022 £ 289,164 |
|---|---|---|---|
| 2022 £ 1,094 4,820 46,708 8,807 684 4,009 5,040 1,386 7,647 842 14,703 249 3,823 1,336 187,451 365 200 |
|||
| 289,164 |
7. Expenditure on charitable activities
Unrestricted
| Unrestricted | |||
|---|---|---|---|
| Providing support Public and medical education Campaigning Research Total for 2023 Total for 2022 |
323,988 funds general £ 176,381 127,140 12,481 7,896 219,691 |
234,903 Restricted funds £ 180,913 10,788 - 43,202 321,199 |
Total funds £ 357.294 137,928 12,481 51,188 |
| 558,891 | |||
| 540,890 |
40
Notes to the financial statements for the Year Ended 31 December 2023
| 8. Other expenditure Staf costs Wages and salaries Audit fees Audit of the fnancial statements Total for 2023 Total for 2022 Rent Ofce expenses Bank charges Depreciation of ofce equipment Providing support Public and medical education Campaigning Research Total for 2023 Total for 2022 |
58,717 Unrestricted funds general £ 24,597 6,800 57,109 8,583 18,062 105 570 558,891 Activity undertaken directly £ 357,294 137,928 51,188 12,481 481,657 |
- Restricted funds £ - - 5,050 - - - - - Grant funding or activity £ - - - - 59,233 |
Total expenditure £ 357.294 137,928 51,188 12,481 |
|---|---|---|---|
| 558,891 | |||
| 540,890 | |||
| Total funds £ 24,597 6,800 8,583 18,062 105 570 |
|||
| 58,717 | |||
| 62,159 |
9. Grant-making
Analysis of grants
The support costs associated with grant-making are £Nil (31 December 2022 - £Nil).
Below are details of material grants made to institutions:
| AECVP Symposium University College London Name of institution Activity Research Research |
- 2023 £ - - |
2022 £ 1,605 57,628 |
|---|---|---|
| 59,233 |
41
Notes to the financial statements for the Year Ended 31 December 2023
10. Net incoming/outgoing resources
Net incoming resources for the year include:
| Net incoming resources for the year include: | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Audit fees | 6,800 | 6,000 |
| Other non-audit services | 1,032 | 936 |
| Depreciation of fxed assets | 3,852 | 5,525 |
11. Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
During the year trustees were reimbursed expenses of £2,321 for equipment purchased for the charity and travel expenses of £2,411.
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
12. Staff costs
| 12. Staf costs | ||
|---|---|---|
| Wages and salaries Social security costs Other pension costs Staf costs during the year were: |
2023 £ 549,153 48,162 12,365 609,680 |
2022 £ 488,958 43,314 11,516 |
| 543,788 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2023 | 2022 | |||
|---|---|---|---|---|
| No | No | |||
| Employees | 19 | 18 |
Contributions to the employee pension schemes for the year totalled £12,365 (2022 - £11,516).
The charity operates a defined contribution pension scheme. The pension cost charge for the year repesents contributions payable by the charity.
The number of employees whose emoluments fell within the following bands was:
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| No | No | ||||
| £70,001 | - £80,000 | 1 | 1 |
The total employee benefits of the key management personnel of the charity were £72,200 (2022 - £76,081).
42
Notes to the financial statements for the Year Ended 31 December 2023
13. Taxation
The charity is a registered charity and is therefore exempt from taxation.
14. Tangible fixed assets
At January 1 2023 Additions At 31 December 2023 Cost At January 1 2023 Charge for the year At 31 December 2023 Depreciation At 31 December 2023 Net book value At 31 December 2022 15. Debtors Trade debtors Prepayments and accrued income Other debtors Debtors includes £Nil (2022: £4,006) receivable after more than one year. Other debtors 16. Cash and cash equivalents Cash on hand Cash at bank Short-term deposits |
Furniture and equipment £ 35,119 16,290 51,409 30,237 3,852 34,089 17,320 4,882 2023 £ 34,524 287,574 - 322,098 2023 £ - 2023 £ 65 108,034 467,086 575,185 |
Total £ 35,119 16,290 |
|---|---|---|
| 51,409 | ||
| 30,237 3,852 |
||
| 34,089 | ||
| 17,320 | ||
| 4,882 | ||
| 2022 £ 39,940 225,487 4,006 |
||
| 269,433 | ||
| 2022 £ 4,006 |
||
| 2022 £ 32 49,877 439,607 |
||
| 489,516 |
43
Notes to the financial statements for the Year Ended 31 December 2023
17. Creditors: amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals |
2023 £ 11,969 13,160 3,321 76,642 48,192 |
2022 £ 521 11,684 2,124 43,620 |
|---|---|---|
| 57,949 |
18. Obligations under leases and hire purchase contracts
Operating lease commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| Within one year Between one and fve years After fve years Land and buildings |
2023 £ 26,400 79,200 77,000 182,600 |
2022 £ 24,200 - - |
|---|---|---|
| 24,200 |
44
Notes to the financial statements for the Year Ended 31 December 2023
| 19. Funds Unrestricted funds General fund Youth services Helpline General Restricted funds BBC Children in Need Advocacy Max’s Foundation Community Peer Support (National Lottery Community Fund) Online medical education Advocacy CAF Resilience Fund CAF Support Fund BMS Grant BMS Voice Masonic Charitable Fund National Survey CureHeart Total restricted funds Total funds |
Balance at 1 January 2023 £ 516,974 1 263 1,830 - 431 547 - 62,209 11,778 4,291 31,295 57,332 18,931 - - 188,908 705,882 |
Incoming resources £ 845,024 - 30,000 - 45,000 - 53,927 10,000 (18,300) - - - - 20,000 35,000 32,700 208,327 1,053,351 |
Resources expended £ (683,123) - (30,263) (1,830) (22,859) (431) (43,556) (9,982) (9,184) (11,778) (3,982) (10,933) (39,551) (21,923) (4,447) (27,430) (238,149) (921,272) |
Balance at 31 December 2023 £ 678,875 1 - - 22,141 - 10,918 18 34,725 - 309 20,362 17,781 17,008 30,553 5,270 |
|---|---|---|---|---|
| 159,086 | ||||
| 837,961 |
45
Notes to the financial statements for the Year Ended 31 December 2023
| Unrestricted funds General fund Medical education Alexander Janson’s Foundation General Restricted funds Youth services Helpline BBC Children in Need Online medical education Advocacy Building the community Awareness campaign ACT/UCL CAF Resilience Fund Burdett Trust CAF Support Fund Total restricted funds Total funds Community Peer Support (National Lottery Community Fund) Max’s Foundation BMS Grant BMS Voice Masonic Charitable Fund |
Balance at 1 January 2022 £ 393,910 10,018 - 1 1,179 1,968 3,331 39,476 11,078 8,794 - 9,201 - 26,939 173,052 566,962 786 650 59,631 - - |
Incoming resources £ 687,720 - 35 - 30,000 - 15,000 71,500 - - 57,628 10,000 2,306 14,950 343,413 1,031,133 44,918 14,776 - 62,300 20,000 |
Resources expended £ (564,638) (10,018) (35) - (30,916) (138) (18,349) (48,767) (11,078) (8,794) (57,628) (7,423) (2,306) (37,598) (327,575) (892,213) (45,157) (14,995) (28,336) (4,968) (1,069) |
Transfers £ (18) - - - - - - - 18 - - - - - - - 18 - - - - |
Balance at 31 December 2022 £ 516,974 - - 1 263 1,830 - 62,209 - - - 11,728 - 4,291 547 431 31,295 57,332 18,931 |
|---|---|---|---|---|---|
| 188,908 | |||||
| 705,882 |
46
Notes to the financial statements for the Year Ended 31 December 2023
The specific purposes for which the funds are to be applied are as follows:
Providing support helpline - Towards the costs of providing a nurse lead clinical helpline for people affected by cardiomyopathy.
BBC Children in Need - To improve the emotional, physical and psychosocial (empowerment) well-being of young people under 18. Information resources (web and hard copy), paediatric helpline (out of hours), and national event, plus Panel meetings.
Advocacy - To cover the costs associated with the charity’s regional advocacy volunteers and national advocacy work to improve access to treatment for people with cardiomyopathy.
Max’s Foundation - To support the charity’s youth project providing support and information materials for young people with cardiomyopathy and their parents.
Community Peer Support (National Lottery Community Fund) - A five year project partly funded by the National Lottery Community Fund to develop an innovative face to face and phone peer support service for people with life limiting heart muscle disease throughout England.
Online Medical Education - To fund the charity’s online medical information and learning resource for healthcare professionals.
Advocacy - Developing the patient voice to affect purposeful change within the relevant statutory agencies.
National Survey - To fund the charity’s national state of cardiomyopathy survey ensuring that the charity is able to provide robust evidence to underpin its advocacy work and provide insights as to how to best target its services.
Cure Heart - Income received from the British Heart Foundation funded CureHeart research project looking for genetic cures for cardiomyopathy. Funds go towards the charity’s expenditure relating to providing service user insights as part of the research team.
CAF resilience fund - Funding to help the charity improve its ability to raise income, deliver services and develop its policy positions with the support of external consultants. This funding has been received from the Charities Aid Foundation’s coronavirus emergency fund.
CAF support fund - Funding to ensure that the charity can continue to deliver its core services and improve its ability to reach more communities and individuals affected by cardiomyopathy. This funding has been received from the Charities Aid Foundation’s coronavirus emergency fund.
BMS Grant - Funding from the pharmaceutical company, Bristol Myers Squibb to cover the costs of the charity’s national conference, website, outreach and awareness work.
BMS patient voice - Funding from the pharmaceutical company, Bristol Myers Squibb to support a program which will use patient experiences to help shape and improve the support and treatment of cardiomyopathy.
Masonic charitable fund - 2-year grant to fund the development of the Youth Support Program.
47
Notes to the financial statements for the Year Ended 31 December 2023
20. Analysis of net assets between funds
| . Tangible fxed assets Current assets Current liabilities Total net assets Tangible fxed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 17,320 897,283 (76,642) 837,961 Unrestricted funds General £ 4,882 758,949 (57,949) 705,882 |
Total funds at 31 December 2023 £ 17,320 897,283 (76,642) |
|---|---|---|
| 837,961 | ||
| Total funds at 31 December 2022 £ 4,882 758,949 (57,949) |
||
| 705,882 |
21. Related party transactions
There were no related party transactions in the year.
48
Contact us:
75a Woodside Road, Amersham, Buckinghamshire, HP6 6AA 01494 791 224 Helpline: 01494 791 224
contact@cardiomyopathy.org www.cardiomyopathy.org
Keep in touch:
facebook.com/cardiomyopathyuk
@cardiomyopathyuk
@cardiomyopathy
youtube.com/cardiomyopathyuk
Cardiomyopathy UK is registered as a charity in England and Wales (no. 1164263) and in Scotland (no. SC053398)