.urt cardio￿vopathY UK the heart muscle charity 51494 20 Annual 24 Report The difference we made in 2024 Cardio¢wopathf thg heart mus¢le charlll on onto ## 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. 2 ## Contents Reference & administrative details Trustees’ report Independent auditors’ report Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements 1 3-19 20-24 25-26 27 28 29-44 3 ## Administrative details ## Trustees ## Auditors R Sutton _(Chair)_ E Jarman S Cornish MBE S Kirkham MC Hodson & Co Wiston House, 1 Wiston Avenue Worthing, West Sussex BN14 7QL M Bloom P Thomas T Bueser A Smith M Rees _(Treasurer)_ ## Charity number Cardiomyopathy UK is registered as a charity in England and Wales (no. 1164263) and in Scotland (no. SC053398) G Favier T Amiss ## Bankers E B K Roy ## Senior management / leadership team A Tomlinson _Chief Executive Officer_ ## Registered office Lloyds 82 High Street Rickmansworth Hertfordshire WD3 1AG Charity Aid Foundation Ltd Kings Hill West Malling Kent ME19 4TA 75a Woodside Road Amersham Buckinghamshire HP6 6AA 1 ## A message from our chair The charity has continued to develop and grow throughout the year, embracing all new developments in the cardiac field. The knowledge, skills and experience of the Board of Trustees continues to serve the charity well. In September one of our longstanding trustees, Dr Ian McPherson stepped down from the board. Ian’s contribution over the past nine years has been invaluable. At the same time, we welcomed Erin Roy. Erin brings to the board a wealth of knowledge and experience in marketing and communications. Our number of trustees remains at twelve, with two trustees, Peter Thomas having served nine years, and Tina Amis having served more than nine years. Our team of trustees continue to work together for the good of the charity, participating in many aspects of the charity’s work outside of their trustee duties e.g. acting as Support Group Leaders. We will always be truly grateful for the dedication, enthusiasm, and passion our volunteers and supporters who give their time freely to the charity. With our army of volunteer support, Cardiomyopathy UK will continue to be there and provide services for anyone and everyone whose life is affected by cardiomyopathy. My thanks go to my fellow trustees, our presidents, staff and other professionals for their time, expertise and all the work they have undertaken for us on behalf of the charity this past year. Together they have enabled us to continue to support our community and make a difference in people’s lives. The charity continues to be in good shape financially. Our grateful thanks go to our grant givers, donors, community and event fundraisers and all who support the work of the charity through their generous donations. As we look forward to the year ahead, it is with sadness that I report that Joel Rose, Chief Executive Officer has resigned. Joel has moved on to take up a new challenge within the voluntary sector. Joel’s leadership has taken the charity to another level during his ten years in post. Joel leaves the charity having developed a clear plan for growth, transformation and progress, for which trustees and our cardiac community are truly grateful. We wish him well. As we move forward with the delivery of year two of the charity’s five-year strategic plan, I am pleased to welcome and introduce Anna Tomlinson, our new Chief Executive Officer. Anna brings to the charity a wealth of knowledge and experience and is passionate about driving meaningful change. Anna is eager to build on the charity’s strong foundations to further our mission of hope for the future. On appointment Anna said: “I am very much looking forward to driving the charity’s ambitious strategy forward over the coming years. By working with the community and the broader ecosystem to further raise awareness of the condition, and to deliver more support, more research, and ultimately better treatments and therapies, I firmly believe that we can deliver significant long-term impact to all of those affected by cardiomyopathy”. I look forward to embracing 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 members. Together we can, and do continue to make a difference. Rita Sutton Chair, Cardiomyopathy UK 2 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 2024. ## 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. 4 ## Achievements & performance ## 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. 1,588 people were supported online and over the phone by our specialist nurses We were really pleased that our pilot project to provide additional high level emotional support to people affected by cardiomyopathy showed to be extremely valuable. We were able to demonstrate how important this service is and subsequently received three years funding to enable us to make this service available for more people. In 2024, our support groups continued to flourish and provide a mixture of online and face-to-face support, providing opportunities for individuals affected by cardiomyopathy to meet others in a supportive environment. These groups, led by our team of exceptional volunteers, held 258 meetings during the year. Attendees told us, 157 people were helped by our telephone peer support volunteers 2,819 Active members of our Facebook support group “Before the group meeting I felt very alone in my condition. It was so helpful to interact with others that understand.” 258 support group meetings “Very useful and positive to realise other people are going through similar experiences, it successfully alleviated feelings of isolation” As well as our online and face to face support groups, our peer support “Heart to Heart” volunteers spoke to 157 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 2,819 active members. One recent caller of our Heart to Heart service said; ‘It was good to find out that I’m not going crazy and that my volunteer has gone through all the things I have gone through. It’s been amazing having you guys available; without it I don’t know what I would have done next” 5 ## Achievements & performance 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. 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. National Conference is always a real highlight for the year. In 2024 our programme focused on supporting the whole person and our packed programme included a wide range of subjects aimed at helping attendees feel better able to manage the physical, practical and emotional impact of cardiomyopathy. Attendees told us that after the event... “I feel empowered.” “I can do more to assist myself.” “I am more hopeful and aware of new developments and knowledge.” “Thank you for all your work and for today. Cardiomyopathy UK have been a key part of navigating my diagnosis and coming out the other side. Thank you all!” ## 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 genetics of 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 and in particular, individuals who we do not normally reach. 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. We measure how well we are doing on social media platforms by tracking our impressions (the number of times our posts are seen) and our engagement (the percentage of people who interact with our posts once they are seen). In 2024 our impressions increased over previous years and our engagement was well over average for the platforms that we use. **----- Start of picture text -----**
Facebook Impressions
for 2024 was
162,996
Instagram Impressions
for 2024 was
127,670
8% 7% 4%
Facebook Instagram Twitter
Engagement Engagement Engagement
platform platform platform
average 0.03% average 0.05% average 0.05%
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6 Achievements & performance ## Promoting research Our research work really took off in 2024. One highlight was the launch of our MyInsight survey which sought to get an accurate snapshot of the state of cardiomyopathy care and treatment across the country. We worked with an expert survey company to help us strengthen the survey methodology. We were really pleased with the response to this survey and the depth of understanding it gives on the experiences of our community. We will be publishing the data in Summer 2025. Another highlight was the conclusion of our priority setting partnership project. In 2024 we were able to share the results of this work to our community as well as at national research and healthcare professional education events. Our ability to identify and articulate the top research priorities in cardiomyopathy has enabled us to energise the research community and ensure that research projects are designed to truly meet the needs of people affected by cardiomyopathy. ## yInsight We established a research network to better enable those in our community who are interested in understanding research better and/or being involved in research to hear about the latest news and opportunities. The email network already has over 700 subscribers. Successes included connecting two volunteers to an opportunity to fly to Rotterdam to speak about their experiences. In 2024 we continued our involvement in several research partnership projects, including the BHF funded CureHeart project. This is a hugely exciting, ground-breaking project which aims to develop genetic cures for cardiomyopathy. We also started working with SMASH-HCM, a digital twins research project studying the differences in HCM and how patients should be managed accordingly, and concluded our work on the CRUCIAL project into the impact of the loss of the smallest blood vessels in cognitive impairment and heart failure. Our role in these research partnerships included providing ongoing insight and advice, and ensuring that the cardiomyopathy community are kept up to date with promising research findings. ## 1323 responses Laura & Alison presenting PSP at BCS event from MyLife 7 ## Achievements & performance ## 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. We reviewed the Change Makers project towards establishing next steps. Our national advocacy and policy work also increased in 2024. We were pleased to be able to take on board a specialist consultant to enhance our visibility in Scotland and prepare the groundwork for a more formal presence in that nation. We also worked to improve our presence and visibility in Northern Ireland. We were also pleased to be involved in a number of national initiatives including working with NHS England on the establishment of a network of clinical centres for people with amyloidosis cardiomyopathy. We used the general election and ensuing 100 day period to engage with our community about lobbying parliamentarians, towards building relationships with new and long-standing MPs to start conversations on cardiomyopathy care and treatment. We also made sure that the voice of people with cardiomyopathy was head in national consultations on the future of Personal Independence Payments, and the NHS ten year plan. In 2023 we played an important role in the process of choosing which medications are available to people through the NHS providing evidence to the committees reviewing mavacamten, for hypertrophic cardiomyopathy with obstruction and tafamidis for amyloidosis cardiomyopathy. Last year, we worked hard to help ensure that these newly approved medications were accessible to the community. We also worked to ensure that NICE – which assesses new medicines - engages well with patient communities. Our work on medications also included efforts to improve access to disopyramide – a drug which has been beset by repeated shortages. 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 2024 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 the Heart and Circulatory Diseases Network. We also joined our voices to collective efforts within the sector on a wide range of issues. 8 ## Achievements & performance ## 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 update our online learning platform and enable more healthcare professionals to access materials on YouTube and on our own website. We were also pleased to be able to provide an in-person education and training day in partnership with the team at Liverpool Heart and Chest Hospital. This event, our first since the COVID-19 pandemic, demonstrated the important role that we can play in bringing healthcare professionals together to improve their understanding of cardiomyopathy and best practice in care and treatment. These events also play an important role in helping healthcare professionals to create the networks and partnerships that better serve their patients. “A very well organised event and excellent venue. All the speakers were v engaging with really informative sessions.” Event attendee 545 Clinicians are making use of our MedEd platform **----- Start of picture text -----**
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of event attendees said that the event provided valuable insights or tools that could be applied in their healthcare practice ## Planning for the future 2024 was the first year of our current five-year strategic plan. 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 cardiomyopathy.org/ our-fve-year-strategy. During the year, trustees worked with the senior leadership team to ensure that our activities were in-line with our plans and that objectives were met. Trustees also worked with the wider team, our Presidents and other stakeholders to ensure that we were fully up to date with the latest developments in “cardiomyopathy world” and the wider environment to make sure that our plans for 2025 remain relevant and that we are responsive to emerging challenges and opportunities. 9 ## Funding our work ## Income & expenditure ## Income **----- Start of picture text -----**
Total income:
£1,054,678
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Community & challenge events 45% Donations 16% Legacies 12% Trusts & foundations 8% Companies 14% Other 5% Expenditure Providing support 31% Raising funds 28% Research & campaigns 16% Public & professional education 16% Governance & administration 9% **----- Start of picture text -----**
Total
expenditure:
£1,149,954
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10 ## Funding our work We are delighted to report that 2024 was another successful year for fundraising. Despite the continued challenges across the fundraising landscape, income for the year grew to £1,054,678 thanks to the generosity of our supporters and commitment of our volunteer fundraisers. Challenge Events continue to grow, some of our biggest highlights were the London Marathon with a team of 70 runners raising a staggering £222,173 and our cycling events which raised over £38,000. This included a team taking on London to Brighton and London to Paris, and the Great North Run continued raised £25,000. We have continued to develop our events portfolio and are pleased to have introduced new events this year including the Jurassic Coast Walk and a range of shorter distance runs of 5 and 10k. 2024 was the year of exceptional and diverse fundraising amongst our fundraising community. From charity walks, golf days and bake sales to head shaves, MMA fights, and galas, our supporters embraced a wide range of events and activities. A total of 60 different community fundraising events took place throughout the year, with a mix of families, individuals and groups hosting these events. We also had incredible support from clubs and groups, including schools, golf clubs and the Lions who chose Cardiomyopathy UK as their charity of the year, dedicating a full 12 months to support us, and raising up to £10,000 per club. Many businesses chose to support us, not only raising important donations but also helping to raise awareness of Cardiomyopathy UK among staff and customers. From a football match held at a Championship stadium to a 3 Peak Challenge, our corporate supporters helped make a big impact. Many supporters also reached out to honour the memory of loved ones, organising funeral collections and in memory-events. Our team worked hard to support these families through this journey. 11 ## Funding our work ## Fundraising responsibly ## 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 2024 we were also grateful for new and continued financial support from The National Lottery Community Fund, The Masonic Charitable Foundation and Browns Solicitors, as well as for pro bono support from Mayer Brown LLP. 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 2024 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. 12 ## Trustees & officers The trustees and officers serving during the year and since the year end were as follows: ## Trustees I McPherson OBE _(resigned 30 September 2024)_ R Sutton, (Chair) E Jarman ## Senior management / leadership team J Rose, Chief Executive Officer _(resigned 28 February 2025)_ A Tomlinson, Chief Executive Officer _(appointed 1 March 2025)_ S Cornish MBE S Kirkham MC M Bloom P Thomas T Bueser A Smith M Rees _(Treasurer)_ G Favier T Amiss E B K Roy _(appointed 11 January 2025)_ 13 ## 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 & 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. ## 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 generosity of its supporters. During the year, the charity made significant investments in its research, policy and marketing activity in line with the charity’s five year strategic plan. The charity recognises that the biggest financial challenge in 2025 will be to secure additional income to fund the charity’s research grant-making ambitions. 14 Structure, governance & management ## 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 and healthcare professional organisations that provide support and information relating to heart diseases. Where possible, the charity works in collaboration with these charities. The total income from these companies was £151,956 which is 14% 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: cardiomyopathy.org/about-us/ourapproach. 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. Reserves at the end of 2024 were equal to just under eight months of normal unrestricted expenditure. During 2024 the charity received funding from six pharmaceutical and medical devices companies (AstraZeneca, Pfizer, Tenaya, Cytokinetics. Medtronic and Bristol Myers Squibb) who have developed or who are developing treatments or devices used by people with cardiomyopathy. 15 ## Plans for future periods ## Aims and 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 2025 we will continue to provide accurate, accessible and up to date information, resources and learning opportunities for all ages and will 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. Last year, we were able to secure additional funding from the National Lottery Community Fund to increase the support that we are able to provide to help people manage the emotional and practical impact of cardiomyopathy. This has enabled us to extend the provision of mental health support that we piloted in 2024 so that more people can access this support. We will also continue to provide professional advice for people who are having difficulties in accessing benefits. ## Working with health & 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 2025, 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 additional learning modules to our professional education platform and, following a successful meeting in 2024, we aim to provide two further face to face educational meetings for health care professionals. 16 ## Plans for future periods ## Promoting & shaping the most impactful research Towards the end of 2024 we made an exciting announcement that we are on a journey towards being able to fund research for the first time. 2025 will see the charity making its first grants in line with the future research priorities identified by the priority setting partnership work. The team are working hard to get processes in place towards funding a doctoral fellowship and catalyst grants – to kick-start promising cardiomyopathy research. We will be working with our newly appointed research grants committee and with the National Institute of Health and Care Research to identify the best projects and researchers to support. As well as this, we will continue to work as part of the BHF Funded CureHeart project which is now in its third year. Our role is to provide insights from people with lived experience of cardiomyopathy and to help ensure that the wider cardiomyopathy community are engaged with the project as it develops. As part of our CureHeart work, we will also be commissioning a research project that aims to improve our understanding of attitudes towards genetic testing and the barriers that may exist to accessing it. We are pleased that 2024 saw more clinical researchers coming to the charity to ask us to play a part in helping them shape and manage their research project. In 2025, we plan to improve and increase our engagement with researchers and hope this will enable us to play an active and meaningful role in a larger number of research projects. ## 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 2025 we will once again join with the international network of cardiomyopathy charities to run 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. 17 ## Plans for future periods ## Shaping local and national policy throughout the UK We want to make it simpler and quicker to access appropriate support and treatment and in 2025 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. Last year, the Policy and Advocacy team did great work in ensuring that the voices of people with cardiomyopathy were heard. In 2025 we will be working with the National Council of Voluntary Organisations to update our advocacy and policy “calls for action” and put in place appropriate measures to help us understand and articulate the difference that this work makes to the lives of people affected by cardiomyopathy. We will also continue to strengthen our network of advocacy volunteers throughout the UK, and especially in the UK regions where, in the past, we have been under-represented. ## Our part in the International Community In 2025 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 will also work to support the International Cardiomyopathy Network (ICoN), a network of Cardiomyopathy healthcare professionals and scientists, as they progress with their new project focusing on improving access to genetic testing across Europe. 18 ## Plans for future periods ## 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: 07/06/2025 Signed on its behalf by: Rita Sutton Chair of Trustees 19 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 2024, 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 2024 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. 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. ## 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. 21 ## 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 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 19), 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. 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. 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. 22 ## 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. 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 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. 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. 23 ## 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: 14/06/2025 24 Statement of financial activities for the year ended 31 December 2024 **----- Start of picture text -----**
Unrestricted Restricted Total Total
Note
funds funds 2024 2023
Income and Endowments from
Donations and legacies 3 £704,375 £264,594 £968,969 £1,014,883
Charitable activities 4 - £42,700 £42,700 £32,700
Other trading activities 5 £32,433 - £32,433 -
Investment income 6 £10,576 - £10,576 £5,768
Total income £747,384 £307,294 £1,054,678 £1,053,351
Expenditure on
Raising funds 7 (£316,695) (£10,173) (£326,868) (£303,664)
Charitable activities 8 (£436,466) (£278,111) (£714,577) (£558,891)
Other expenditure 9 (£108,509) - (£108,509) (£58,717)
Total expenditure (£861,670) (£288,284) (£1,149,954) (£921,272)
Net income (expenditure) (£114,286) £19,010 (£95,276) £132,079
Net movements in funds (£114,286) £19,010 (£95,276) £132,079
Reconciliation of funds
Total funds brought forward £678,875 £159,086 £837,961 £705,882
Total funds carried forward 19 £564,589 £178,096 £742,685 £837,961
**----- End of picture text -----**
The notes on pages 29 to 44 form an integral part of these financial statements 25 Statement of financial activities for the year ended 31 December 2024 **----- Start of picture text -----**
Unrestricted Restricted Total
Note
funds funds 2023
Income and Endowments from
Donations and legacies 3 £839,256 £175,627 £1,014,883
Charitable activities 4 - £32,700 £32,700
Investment income 6 £5,768 - £5,768
Total income £845,024 £208,327 £1,053,351
Expenditure on
Raising funds 7 (£300,418) (£3,246) (£303,664)
Charitable activities 8 (£323,988) (£234,903) (£558,891)
Other expenditure 9 (£58,717) - (£58,717)
Total expenditure (£683,123) (£238,149) (£921,272)
Net income (expenditure) £161,901 (£29,822) £132,079
Net movements in funds £161,901 (£29,822) £132,079
Reconciliation of funds
Total funds brought forward £516,974 £188,908 £705,882
Total funds carried forward 19 £678,875 £159,086 £837,961
**----- End of picture text -----**
The notes on pages 29 to 44 form an integral part of these financial statements. All of the charity’s activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 19. 26 Balance Sheet as at 31 December 2024 **----- Start of picture text -----**
Note Total 2024 Total 2023
Fixed assets
Tangible assets 14 £16,185 £17,320
Current assets
Debtors 15 £218,764 £322,098
Cash at bank and in hand 16 £604,354 £575,185
£823,118 £897,283
Creditors
Amounts falling due within one year 17 (£96,618) (£76,642)
Net current assets £726,500 £820,641
Net assets £742,685 £837,961
Funds of the charity:
Restricted income funds
Restricted funds 18 £178,096 £159,086
Unrestricted income funds
Unrestricted funds £564,589 £678,875
Total funds 19 £742,685 £837,961
**----- End of picture text -----**
The financial statements on pages 25 to 44 were approved by the trustees, and authorised for issue on 14/06/2025 and signed on their behalf by: R Sutton Trustee 27 Statement of cash flows for the year **----- Start of picture text -----**
Note Total 2024 Total 2023
Cash flows from operating activities
Net cash (expenditure)/income (£95,276) £132,079
Adjustments to cash flows from non-cash items
Depreciation £7,793 £3,852
Investment income (£10,576) (£5,767)
(£98,059) £130,164
Working capital adjustments
Decrease/(increase) in debtors 15 £103,334 (£52,664)
Increase in creditors 17 £19,976 £18,692
Net cash flows from operating activities £25,251 £96,192
Cash flows from investing activities
Interest received £10,576 £5,767
Acquisitions of tangible assets (£6,658) (£16,290)
Net cash flows from investing activities £3,918 (£10,523)
Net increase in cash and cash equivalents £29,169 £85,669
Cash and cash equivalents at 1 January £575,185 £489,516
Cash and cash equivalents at 31 December £604,354 £575,185
**----- End of picture text -----**
All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 29 to 44 form an integral part of these financial statements. 28 Notes to the financial statements for the year ended 31 December 2024 ## 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 ## 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. ## 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. 29 Notes to the financial statements for the year ended 31 December 2024 ## 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 £16,185 (2023 -£17,320). ## 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. ## 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. 30 Notes to the financial statements for the year ended 31 December 2024 ## 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. ## 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. ## 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. ## 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. 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. ## 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. 31 Notes to the financial statements for the year ended 31 December 2024 ## 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. ## 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. ## 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. ## 3. Income from donations and legacies **----- Start of picture text -----**
Unrestricted Restricted Total
funds general funds 2024
Donations and legacies
-
Legacies £120,224 £120,224
Grants, including capital grants
Grants - £264,594 £264,594
-
Fundraising £584,151 £584,151
£704,375 £264,594 £968,969
**----- End of picture text -----**
32 Notes to the financial statements for the year ended 31 December 2024 ## 3. Income from donations and legacies **----- Start of picture text -----**
Unrestricted Restricted Total
funds general funds 2023
Donations and legacies
Donations £35,157 - £35,157
-
Legacies £195,068 £195,068
Grants, including capital grants
Grants £60,800 £175,627 £236,427
-
Fundraising £548,231 £548,231
£839,256 £175,627 £1,014,883
Unrestricted Restricted Total 2024 Total 2023
- - -
Browns Solicitors - Helpline £30,000
- -
Browns Solicitors - Advovacy £30,000 £30,000
- -
National Lottery £89,081 £89,081
Masonic Charitable Fund - - - £20,000
Burdett Trust - £57 £57 -
-
National Survey project £35,000 £35,000 £35,000
- - -
Pfizer advocacy £26,700
-
AstraZeneca (Med Ed) £15,000 £15,000 £10,000
-
Tenaya £40,200 £40,200 £40,800
BLF - - - £53,927
The Norton Rose Fulbright - - -
£20,000
Charitable Foundation
- -
Cytokinetics £15,256 £15,256
Alnlam - £10,000 £10,000 -
Devolved Nations - £30,000 £30,000 -
-
£264,594 £264,594 £236,427
**----- End of picture text -----**
33 Notes to the financial statements for the year ended 31 December 2024 ## 4. Income from charitable activities **----- Start of picture text -----**
Restricted Total
funds 2024
Research £42,700 £42,700
Restricted Total
funds 2023
Research £32,700 £32,700
**----- End of picture text -----**
## 5. Income from other trading activities **----- Start of picture text -----**
Unrestricted Total
funds general funds
Trading income
Other trading income £32,433 £32,433
Total for 2024 £32,433 £32,433
**----- End of picture text -----**
## 6. Investment income **----- Start of picture text -----**
Unrestricted Total
funds general funds
Interest receivable and similar income
Interest receivable on bank deposits £10,576 £10,576
Total for 2024 £10,576 £10,576
Total for 2023 £5,768 £5,768
**----- End of picture text -----**
34 Notes to the financial statements for the year ended 31 December 2024 ## 7. Expenditure on raising funds ## a) Costs of generating donations and legacie **----- Start of picture text -----**
Direct costs Total 2024 Total 2023
Costs of generating donations and legacies £326,868 £326,868 £303,664
Breakdown of costs Total 2024 Total 2023
Staff costs £202,735 £196,410
Rates and water £713 £598
Insurance £486 £433
Postage and stationery £349 £2,173
Sundries £3,670 £1,391
Event costs £58,551 £47,108
Marketing £29,460 £11,364
Travel and subsistence £412 £887
Computer £634 £3,952
Recruitment £628 £1,027
Staff training £1,140 £757
Rent £5,280 £10,526
Professional fees £6,297 £1,198
Donation charges £14,752 £19,445
Bank charges £203 £315
-
Subscriptions £4,941
Depreciation £1,558 £1,139
£326,868 £303,664
**----- End of picture text -----**
35 Notes to the financial statements for the year ended 31 December 2024 ## 8. Expenditure on charitable activities **----- Start of picture text -----**
Unrestricted Restricted Total
funds general funds funds
Providing Support £210,072 £137,352 £347,424
Public and medical education £140,074 £38,436 £178,510
Campaigning £40,501 £41,313 £81,814
Research £45,819 £61,010 £106,829
Total for 2024 £436,466 £278,111 £714,577
Total for 2023 £323,988 £234,903 £558,891
**----- End of picture text -----**
**----- Start of picture text -----**
Activity
Total
undertaken
expenditure
directly
Providing Support £347,424 £347,424
Public and medical education £178,510 £178,510
Campaigning £81,814 £81,814
Research £106,829 £106,829
Total for 2024 £714,577 £714,577
Total for 2023 £558,891 £558,891
**----- End of picture text -----**
36 Notes to the financial statements for the year ended 31 December 2024 ## 9. Other expenditure **----- Start of picture text -----**
Unrestricted Total
funds general funds
Staff costs
Wages and salaries £50,649 £50,649
Audit fees
Audit of the financial statements £6,000 £6,000
Rent £4,224 £4,224
Office expenses £46,246 £46,246
Bank charges £143 £143
Depreciation of office equipment £1,247 £1,247
Total for 2024 £108,509 £108,509
Total for 2023 £58,717 £58,717
**----- End of picture text -----**
## 10. Net incoming/outgoing resources ||2024|2023| |---|---|---| |Net (outgoing)/incoming resources for the year include:||| |Audit fees|£6,000|£6,800| |Other non-audit services|£1,084|£1,032| |Depreciation of fxed assets|£7,793|£3,852| ## 11. Trustees remuneration and expenses During the year the charity made the following transactions with trustees: During the year trustees were reimbursed expenses of £Nil (2023: £2,231) for equipment purchased for the charity and travel and subsistence expenses of £4,302 (2023: £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. 37 Notes to the financial statements for the year ended 31 December 2024 ## 12. Staff costs **----- Start of picture text -----**
2024 2023
Staff costs during the year was:
Wages and salaries £491,207 £549,153
Social Security costs £161,939 £48,162
Other pension costs £47,539 £12,365
£700,685 £609,680
**----- End of picture text -----**
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: ||2024|2023| |---|---|---| |Employees|21|19| Contributions to the employee pension schemes for the year totalled £18,410 (2023 - £12,365). 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: ||2024|2023| |---|---|---| |£60,001 - £70,000|1|-| |£70,001 - £80,000|-|1| |£80,001 - £90,000|1|-| The total employee benefits of the key management personnel of the charity were £85,604 (2023 - £72,200). 38 Notes to the financial statements for the year ended 31 December 2024 ## 13. Taxation The charity is a registered charity and is therefore exempt from taxation. ## 14. Tangible fixed assets **----- Start of picture text -----**
Furniture and
Total
equipment
Cost
At 1 January 2024 £51,409 £51,409
Additions £6,658 £6,658
At 31 December 2024 £58,067 £58,067
Depreciation
At 1 January 2024 £34,089 £34,089
Charge for the year £7,793 £7,793
At 31 December 2024 £41,882 £41,882
Net book value
At 31 December 2024 £16,185 £16,185
At 31 December 2023 £17,320 £17,320
**----- End of picture text -----**
## 15. Debtors **----- Start of picture text -----**
2024 2023
Trade debtors £36,180 £34,524
Prepayments and accrued income £182,584 £287,574
£218,764 £322,098
**----- End of picture text -----**
39 Notes to the financial statements for the year ended 31 December 2024 ## 16. Cash and cash equivalents **----- Start of picture text -----**
2024 2023
Cash on hand £61 £65
Cash at bank £47,898 £108,034
Short-term deposits £556,395 £467,086
£604,354 £575,185
**----- End of picture text -----**
## 17. Creditors: amounts falling due within one year **----- Start of picture text -----**
2024 2023
Trade creditors £4,387 £11,969
Other taxation and social security £14,907 £13,160
Other creditors £15,060 £3,321
Accruals £62,264 £48,192
£96,618 £76,642
**----- End of picture text -----**
## 18. Obligations under leases and hire purchase contracts ## Operating lease commitments Total future minimum lease payments under non-cancellable operating leases are as follows: **----- Start of picture text -----**
2024 2023
Land and buildings
Within one year £26,400 £26,400
Between one and five years £79,200 £79,200
After five years £50,600 £77,000
£156,200 £182,600
**----- End of picture text -----**
40 Notes to the financial statements for the year ended 31 December 2024 ## 19. Funds **----- Start of picture text -----**
Balance at Incoming Resources Balance
1 Jan 2024 resources expanded 31 Dec 2024
Unrestricted funds
General
General fund £678,875 £747,384 (£861,670) £564,589
Restricted funds
-
Lottery Thriving £61,243 (£22,773) £38,470
Youth services £1 - - £1
Advocacy £22,141 £30,000 (£29,473) £22,668
Community Peer Support
(National Lottery Community £10,918 £27,839 (£38,762) (£5)
Fund)
Online Medical Education £18 £45,100 (£36,435) £8,683
-
Advocacy £34,725 (£12,083) £22,642
-
Researching Further £15,036 (£12,174) £2,862
CAF Support Fund £309 - (£309) -
BMS Grant £20,362 - (£20.362) -
BMS Voice £17,781 - (£17,781) -
Masonic Charitable Fund £17,008 - (£17,008) -
National Survey £30,553 £35,000 (£24,471) £41,082
Cure Heart £5,270 £42,700 (£34,608) £13,362
- -
Delivering for our community £20,100 (£20,100)
Devolved Nations - £30,000 - £30,000
Research appeal - £276 - £276
Crucial - - (£1,945) (£1,945)
Total restricted funds £159,086 £307,294 (£288,284) £178,096
Total funds £837,961 £1,054,678 (£1,149,954) £742,685
**----- End of picture text -----**
41 Notes to the financial statements for the year ended 31 December 2024 **----- Start of picture text -----**
Balance at Incoming Resources Balance
1 Jan 2023 resources expanded 31 Dec 2023
Unrestricted funds
General
General fund £516,974 £845,024 (£683,123) £678,875
Restricted funds
Youth services £1 - - £1
Helpline £263 £30,000 (£30,263) -
BBC Children In Need £1,830 - (£1,830) -
-
Advocacy £45,000 (£22,859) £22,141
Max’s Foundation £431 - (£431) -
Community Peer Support
(National Lottery Community £547 £53,927 (£43,556) £10,918
Fund)
Online Medical Education - £10,000 (£9,982) £18
Advocacy £62,209 (£18,300) (£9,184) £34,725
CAF Resilience Fund £11,778 - (£11,778) -
CAF Support Fund £4,291 - (£3,982) £309
BMS Grant £31,295 - (£10,933) £20,362
BMS Voice £57,332 - (£39,551) £17,781
Masonic Charitable Fund 18,931 £20,000 (£21,923) £17,008
-
National Survey £35,000 (£4,447) £30,553
Cure Heart - £32,700 (£27,430) £5,270
Total restricted funds £188,908 £208,327 (£238,149) £159,086
Total funds £705,882 £1,053,351 (£921,272) £837,961
**----- End of picture text -----**
42 Notes to the financial statements for the year ended 31 December 2024 The specific purposes for which the funds are to be applied are as follows: ## 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. ## 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. ## 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. ## Online Medical Education To fund the charity’s online medical information and learning resource for healthcare professionals. ## 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. ## 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. ## Thriving together (Lottery) A 3-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. This includes enhancements in our service delivery that is centred around mental health, wellbeing and welfare. 43 Notes to the financial statements for the year ended 31 December 2024 ## Reaching Further A grant to enable the charity to create impactful awareness raising and support content that can reach more people who have cardiomyopathy or who are at risk of having the condition. ## Devolved Nations Covers the cost of our advocacy work and enhancing our policy and advocacy activity -working to improve access to care and treatment for people affected by cardiomyopathy - across all UK devolved nations. ## Crucial An international research partnership aiming to understand the heart-brain axis, particularly the role of the microvasculature in impacting cognitive decline. The funds received are to cover our patient insight and dissemination activities in relation to the project. ## Delivering for our community To fund part of the deliverance of the annual Cardiomyopathy UK conference. ## 20. Analysis of net assets between funds **----- Start of picture text -----**
Total funds
Unrestricted Restricted
31 Dec
funds general funds
2024
-
Tangible fixed assets £16,185 £16,185
Current assets £645,022 £178,096 £823,118
Current liabilities (£96,618) - (£96,618)
Total net assets £564,589 £178,096 £742,685
**----- End of picture text -----**
**----- Start of picture text -----**
Total funds
Unrestricted Restricted
31 Dec
funds general funds
2023
-
Tangible fixed assets £17,320 £17,320
Current assets £738,197 £159,086 £897,283
Current liabilities (£76,642) - (£76,642)
Total net assets £678,875 £159,086 £837,961
**----- End of picture text -----**
## 21. Related party transactions There were no related party transactions in the year. 44 ## Contact us: 75a Woodside Road, Amersham, Buckinghamshire, HP6 6AA 01494 791 224 Helpline: 0800 018 1024 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) 45