For patients, carers, relatives and healthcare professionals
Annual Report 2024
Registered Charity No. 1183181 www.heartstogether.org.uk
Annual Report Welcome
At the heart of our work is a simple but powerful aim: to make a meaningful difference in people’s lives through care, compassion, and practical support, every single day.
This report offers an opportunity to reflect on the past year — to share the progress we’ve made, the challenges we’ve faced, and the impact that has only been possible thanks to the collective effort of so many.
When we talk about ‘we’, we mean not just the charity itself, but the entire community that stands behind it: our dedicated staff, tireless volunteers, generous donors, committed trustees, community champions, corporate partners, suppliers, collaborators, and every supporter who has raised awareness, shared feedback, or simply encouraged us along the way.
Together, this network of people has enabled us to achieve more than we ever could alone.
We hope you take pride in what has been accomplished this year and that you will continue to walk alongside us as we grow, adapt, and respond to the changing needs of those who turn to us in their time of need.
Hearts Together
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www.heartstogether.org.uk
Contents
| 4 | A message from our CEO | 14 |
|---|---|---|
| 5 | Trustee statement | 15 |
| 6 | Who we are | 16 |
| 7 | Our public benefit | 19 |
| 8 | Our Hospital Hotel | 20 |
| 9 | Our reach | |
| 10 | Supporting you | |
| 11 | Going green | |
| 12 | Our volunteers and supporters | |
| 13 | Highlights from the year |
Looking ahead Building a better future
- Our financial performance Independent examiners report Statement of financial activity
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A message from our Interim CEO
2024 has been a year of both progress and resilience. We have navigated the challenges of rising living costs and an uncertain economic climate, but thanks to the generosity and commitment of our supporters, this year we were able to provide 8,081 nights of accommodation, saving guests an incredible £389,181 compared with the cost of staying in a budget hotel.
I would also like to pay special thanks to our dedicated team and board of trustees. Their commitment ensures that the charity not only runs smoothly day to day, but also continues to move forward with a clear vision and shared mission. Our volunteers also played a huge part in making this possible, giving 951 hours of their time to strengthen and extend our services. Alongside this, our counselling programme supported 267 individuals, offering both professional care and a compassionate listening ear during some of the most difficult moments of their lives.
We continue to take inspiration from our guests themselves. Nayha reached out to us to thank us for the support she and her mother experienced: arriving in Plymouth in the dead of night, stranded and shaken, she described the Hotel as “possibly the worst situation but in the best place.” Over six long weeks, our fully equipped facilities, shuttle service, tranquil garden views, compassionate staff, and even the deer in the grounds became touchstones of calm and connection.
Olivia, stayed at Hearts Together Hospital Hotel, hours from home with her three-year-old son and mother to be close to her terminally-ill father. She found much more than a place to stay comforted by an environment where vulnerability felt okay. Olivia said simply, “Our whole family will be forever grateful… It’s definitely a very special place.”
These stories give life to the heart of what we do: providing more than just a bed. They remind us that every detail - from a listening ear to lift down the road - can become a lifeline.
As you read this report, I hope our collective drive and deep commitment speak to you. We are determined to grow, to collaborate, and to deepen our impact in partnership with you - our supporters, volunteers, donors, and extended Hearts Together family.
Please continue this journey with us into 2025. Together, let us shape a year filled with even more compassion, connection, and comfort for those who need it most.
Michelle Clark Interim CEO
Hearts Together
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For the year ending 31st December 2024
The trustees present their report with the financial statements of the charity for the year ended 31st December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities : Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1st January 2019.
Our Charitable Objectives
The objectives of the Charity as set out in our constitution are the relief of sickness in such ways as the trustees think fit, with specialist but not exclusive expertise in relation to sufferers of heart disease, in particular (without limitation) by:
(a) providing accommodation for people suffering from illness and undergoing treatment at medical centres in the South West of England and their family members and persons supporting them, and for healthcare practitioners and those training in health-related activities
(b) providing or assisting in the provision of counselling and other support services to meet the needs of such persons and to medical professionals linked to or engaged in the treatment or care of such persons
(c) promoting initiatives supporting the prevention, treatment and cure of sickness including promoting research and publishing useful results
(d) providing and assisting in the provision of services, facilities and equipment ancillary to, or not normally provided by, the statutory authorities.
The trustees have complied with their duty as per section 17(5) of the 2011 Charities Act and have had due regard to public benefit guidance published by the Charity Commission in agreeing the activities required to meet its objectives.
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www.heartstogether.org.uk
Who we are Our purpose, mission and culture
Our mission
Support, care and compassion. Everyday.
Our purpose
We enable families and loved ones to stay close together during difficult times in our Hospital Hotel, providing a home away from home. We provide support, care and compassion when it matters most.
Our culture
People are at the heart of everything we do. We act with kindness, respect and empathy. We take the time to understand what really matters and work together with others to deliver vital support to those who need us.
Our values
We are collaborative.
We work together as a team and with others to meet individuals’ needs. We believe that being inclusive and embracing diversity helps us better achieve our goals. We collaborate to inform what we do and how we do it. We believe that the whole is always greater than the sum of its parts. We know we are stronger when we work in partnership, sharing skills and strengths.
People matter most.
People are at the heart of everything we do. Our people focus, our beneficiaries, our team, and our partners. We treat people as individuals and take the time to understand what matters most to them. We act with care, compassion, and kindness.
We are progressive.
We have drive and determination. We are continually looking at how we can do things better. We seek out opportunities for continuous growth and improvement, to ensure we continue to deliver high quality, forward thinking and innovative services, for the people we are here to support.
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www.heartstogether.org.uk
Impact Highlight
£389,181 The total amount saved by guests in comparison to staying at a budget hotel.
8,081 Nights of accommodation provided
267
Individuals supported by our counselling program
951
Hours donated by volunteers
£26,941 Was provided to guests as charity subsidies
134 Healthcare professionals accommodated
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Key Achievements
The past year has brought with it both challenges and opportunities. Rising demand across the NHS, combined with the ongoing cost-of-living crisis, has placed increasing pressure on families who find themselves far from home while loved ones receive medical care.
For many, the financial strain of such circumstances is something they never imagined having to prepare for. This year, we have seen not only those already in difficult situations struggling, but also families who, in previous times, may have been able to cope but who now find themselves facing unexpected hardship.
That is why our Hospital Hotel remains so vital. By easing the financial and emotional burden of being close to hospital, we ensure that families can focus on what truly matters — supporting their loved ones — without the added stress of unaffordable accommodation and hidden costs.
In 2024, we provided 8,081 nights of accommodation for 1,022 guests, creating a saving of over £389,181 when compared with budget hotel rates. In circumstances where families faced particularly long or complex stays, or significant financial difficulty, we were able to step in with additional help, providing over £26,941 in subsidies across 89 families. These contributions went hand-in-hand with our wider support services, including counselling, breakfasts, and wellbeing initiatives, ensuring every guest received not just a place to stay, but holistic care.
Flexibility and understanding remain at the core of what we do. We recognise that no two healthrelated stays are ever the same, and so we shape our support around each individual and family. Practicalities such as transport, parking, and laundry are made as simple as possible, while food provision and mental health support offer much-needed reassurance. In the past year, we served over 7,000 free breakfasts, provided nearly 900 shuttle journeys covering 1,260 miles, saving guests £5,687 in taxi fares, and offered free on-site parking — saving families an estimated £42,750.
Although 2024 brought significant rises in our running costs and unprecedented demand for our services, these challenges have only reinforced our determination to grow and adapt. We remain committed to expanding our accommodation and enhancing the wraparound services we provide, ensuring that patients, carers, and relatives can continue to rely on us during life’s most testing times.
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Our Reach Map of our beneficiaries’ home
The average journey In 2024, 74% of our time travelled by guests guests were located to Hearts Together within the South West, Hospital Hotel, is with 55% from Devon 2 hours 10 minutes. and 45% from Cornwall.
The longest journey travelled by a guest to Hearts Together Hospital Hotel in 2024 was 11 hours 22 minutes.
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Supporting you Our counselling services
For many of the families who stay with us, their time here is shaped by worry, exhaustion, and moments of deep uncertainty. Some are facing the heartbreak of end-of-life care; others are dealing with the shock of sudden hospital admissions. At such times, practical support alone is not enough. Families need somewhere they can turn for understanding, compassion, and the reassurance that they are not alone.
In 2024, our counselling and wellbeing services became an even greater source of strength for those in our care. Over the course of the year, 267 individuals found comfort and guidance through our support programme. Together, our team delivered 328 hours of formal counselling and more than 236 hours of informal sessions. This was made possible thanks to the dedication of our three professional counsellors, two volunteers, and the welcome addition of a student counsellor who brought fresh energy to the team.
Guests often tell us that they did not think they needed to talk to someone — until they tried. What they discover is the relief of being heard by a compassionate professional in a safe, nonjudgemental space. Again and again, we are reminded that this is not an optional extra. It is essential. It makes a genuine difference to wellbeing at a time when families are under immense pressure.
This year we also saw the growing value of our remote counselling support. For families who had returned home, begun full-time caring, or were grieving a loved one, these sessions offered a lifeline. They helped people through the difficult transition away from hospital, reduced feelings of isolation, and supported them as they adjusted to a new reality.
Through every conversation, every listening ear, and every moment of shared understanding, our support services have become a steady presence for families navigating some of life’s toughest challenges.
“Thank you for the service you provide to so many people who need it. Thank you for showing your compassion, care and concern each and everyday to so many of us who need it.”
Hearts Together
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www.heartstogether.org.uk
Reduce, reuse, recycle
As our services expand, so too does our responsibility to do things in a way that protects the world around us. Sustainability isn’t an add-on for us — it’s woven into the way we plan for the future. From cutting energy use and exploring eco-technologies in new developments, to thinking carefully about how we manage day-to-day operations, our goal is clear: to lower our carbon footprint while setting a positive example for accommodation linked to healthcare.
One of the most visible changes has been our electric shuttle service, launched in 2022. This has quickly become an essential support for families, providing almost 900 journeys and covering 1,260 miles over the past year. Not only did this save guests around £5,687 in taxi fares, but it also prevented the additional emissions that would have been generated by hundreds of individual car trips.
Our commitment to the environment doesn’t stop at transport. We’re also taking steps to create greener, more welcoming spaces. In 2024, we planted over 30 new trees and hundreds of wildflowers in the grounds around our Hospital Hotel, creating a sanctuary that benefits both guests and local wildlife. This initiative reflects our belief that caring for people goes hand in hand with caring for the planet — small actions that together leave a lasting, positive impact.
By combining practical innovations like electric transport with longer-term projects such as tree planting, we are not only reducing our environmental impact but also creating an atmosphere of care that extends far beyond our walls.
----- Start of picture text -----
£5,687 1260.2
Amount saved in Miles driven in
taxi fares by using the shuttle
887 the shuttle 172.2 32132
Lifts provided to Kg of Co2 reduced KWH generated by
guests in our by using the the solar panels
electric vehicle 0.9% shuttle 6.62
of waste went to Tonnes of Co2
landfill reduced from
recycling
----- End of picture text -----
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A huge thank you To our volunteers & supporters
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In the news
evening, generously presenting a £300 donation from their 2023 fundraising. We also held our annual Wear It Red Day, where supporters — alongside local businesses — helped raise £366 in bold red solidarity. A heartfelt thanks goes to Pelican Lodge 7878 Freemasons, who raised £1,000 for us, enabling over 18 nights of accommodation or up to 40 counselling sessions for families in need. Our Summer Supporter Event brought together volunteers, community champions, and beloved fundraisers for a celebration of connection, gratitude, and shared purpose.
Throughout 2024, we were deeply moved by the generosity and spirit shown by our supporters. Plymouth Garden Centre celebrated its 60th anniversary by donating £60 worth of plants and compost, enhancing our grounds and bringing life and colour to our space. In our community, young volunteer Lauren completed the Run Plymouth 10K in an impressive 1 hour 7 minutes, raising £743 — surpassing her target and directing the funds to our Big Build expansion project. The Inner Wheel Club of Roborough treated us to a delightful cheese and wine
Amazing £70,000 from Postcode Community Trust
We are delighted to announce that Hearts Together received an extraordinary £70,000 grant from the Postcode Community Trust, thanks to the players of the People’s Postcode Lottery.
This generous funding marks a significant stride toward our muchneeded Big Build expansion, enabling us to respond to rising demand — highlighted by over 4,900 overnight stay requests we were unable to meet in 2024.
With this support, we are closer than ever to delivering purpose-designed apartments and enhanced wellbeing programmes, deepening our capacity to provide comfort, care, and stability to patients, carers, and relatives during challenging times.
Dancing Duo update
Thank you Liz
After seven transformative years Liz Harding stepped down as CEO at the end of 2024. Liz led the charity through many challenges including COVID and the cost of living crisis, creating the legacy of a modern, peoplefocused organisation ready to support our community.
Henry and Jeannie have been running fundraisers for Hearts Together for over 20yrs. In 2024 they were able to donate an amazing £1000! This brings the grand total, from across the years, to a REMARKABLE £24,000! They have been able to make such a difference to all the families who stay with us.
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www.heartstogether.org.uk
Looking ahead Our strategic plans for the future
Consolidate
Implement a sustainable and scalable operation model.
Develop
Collaborate and work in partnership to provide services which meet current and future needs.
Sustain
To become a regionally / nationally recognised and supported charity.
Grow
Expand the existing provision in terms of physical capacity and additional services.
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Building a better future Expansion to meet a growing need
In 2024, demand for our Hospital Hotel accommodation continued to outstrip capacity. Sadly, we were unable to support 4,958 nights of accommodation or provide 1,079 families with a place to stay. Each of these numbers represents real people — patients, carers, and loved ones — who faced the added burden of distance, travel, and uncertainty at a time when comfort and stability were needed most.
This challenge is only set to grow. With construction now confirmed for the New Derriford Hospital Programme, the site will undergo a major transformation, including a new main entrance, urgent and emergency care facilities, and specialist departments. This expansion is vital for our region, but it will also bring an inevitable increase in demand for Hearts Together’s services right on Derriford’s doorstep.
Throughout the year, we have pressed forward with our Big Build. In 2024, we planted more than 100 hedges, completing landscaping works to enhance biodiversity around our unique site and complementing the new entrance development. Looking ahead, our next milestone is to raise £650,000 to fund essential groundworks and an 80metre retaining wall, overcoming the challenges of our site’s geography and enabling the next stage of our expansion.
By embracing these challenges with innovation and determination, we are creating a future where every family who needs us can find comfort, care, and togetherness at Hearts Together.
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www.heartstogether.org.uk
A year in review
We received £485,189 We spent £484,833
Donations
30.5% Grants 23.4% Hospital Hotel 40.1% Other 6.0%
The Big Build 2.3% Raising Funds 9.1% Charitable Activities 88.6%
£26,941
is the total amount we provided in Charity subsidies, helping to ease the burden of staying away from home
£18,673
was spent on our Supporting You service, providing in house and remote counselling services for our guests
£362,346 was how much we needed to raise in 2024 to cover the cost of running Hearts Together Hospital Hotel
£6,211
was the cost of providing free breakfasts to each of our guests
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www.heartstogether.org.uk
Going concern
The Trustees have considered that there are no material uncertainties regarding the charities ability to continue as a going concern, taking into account a period of at least 12 months from the approval of this report. Furthermore there are no significant areas of uncertainty that affect the carrying value of the assets held by the charity. Therefore the Trustees have concluded that the going concern basis of account continues to be appropriate.
In reaching our conclusion we have reviewed expected income from all sources, excluding legacies and restricted grant income, over the next 12 months and believe this will be sufficient to cover at least the next 12 months running costs.
In order to ensure we can continue to offer our services in the event of unforeseen events, it is our policy to maintain unrestricted reserves equal to 6 months of operational costs. At 31 December 2024 this should be approx £250k. As at the year end Dec 24, the charity currently holds cash reserves of £943k, the excess being held in designated funds for the building project.
Structure Governance & Management
Hearts Together is a charitable incorporated organisation (CIO), registered as a charity on 29th April 2019 and which is governed by its constitution. The charity is operated by a management committee which includes the Trustees. The committee meets a minimum of four times a year.
New Trustees are recruited as per the charity’s ‘Trustee Recruitment Policy’ and when appointed are briefed on their legal obligations under charity law. As part of their induction programme, they meet with other Trustees and key members of staff.
All trustees give their time freely and no remuneration was paid to Trustees in the year.
The board receive quarterly management accounts which are reviewed at each respective board meeting. Specific projects are discussed more frequently and monitored closely via sub team meetings and board business meetings.
Board members have specific duties in the running of the charity and together with operational staff, have regular work level discussion group meetings to ensure best practice and to track the progress of the charity. Teamwork is vital if we are to achieve our ambitions and to remain a secure charitable entity. In support of this aim, succession planning and regular board reviews take place alongside trustee appraisals with a commitment to support and develop board members on an on-going basis.
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www.heartstogether.org.uk
Reference and Administrative Details
Trustees
S J Demuth N Roy N Theilmann J Chauhan - appointed 25 November 2024 E Preston - appointed 25 November 2024 D Cole - appointed 25 November 2024
M Baron - resigned 29 June 2024 E Harding - resigned 31 December 2024
Registered Charity number
1183181
Registered address
Hearts Together 7 Blunts Lane Derriford Plymouth Devon PL6 8BE
Independent Examiner
Matthew Keane ACCA Westcotts (SW) LLP 3 Plym House Longbridge Rd Marsh Mills Plymouth PL8 8LT
Approved by order of the board of trustees on 17th October 2025 and signed on its behalf by:
Signed: ........................................................................ Date: 23/10/2025 Trustee Name: Nigel Roy
Signed: ........................................................................ Date: 23/10/2025 Trustee Name: Steven Demuth
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I report to the trustees on my examination of the accounts of Hearts Together CIO for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of Hearts Together CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Hearts Together CIO's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
Since Hearts Together CIO's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of Hearts Together CIO as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
......................................
Matthew Keane ACCA Westcotts (SW) LLP
3 Plym House Longbridge Road Marsh Mills Plymouth PL8 8LT
Date:............................28/10/2025
Hearts Together
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www.heartstogether.org.uk
Statement of financial activity performance For the year ending 31st December 2024
www.heartstogether.org.uk 20
Hearts Together
Balance Sheet as at 31 December 2024
| Note Fixed assets Tangible assets 13 Investments 14 Current assets Debtors 15 Cash at bank and in hand 16 Creditors: Amounts falling due within one year 17 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Revaluation reserve Designated funds Total unrestricted funds Total funds 18 |
2024 £ 2023 £ 1,985,925 2,020,464 2,242 2,242 |
|---|---|
| 1,988,167 2,022,706 |
|
| 425,447 426,348 943,587 507,444 |
|
| 1,369,034 933,792 (36,116) (41,848) |
|
| 1,332,918 891,944 |
|
| 3,321,085 2,914,650 |
|
| 242,407 28,228 1,188,423 1,211,369 951,255 978,555 939,000 696,498 |
|
| 3,078,678 2,886,422 |
|
| 3,321,085 2,914,650 |
|
The financial statements on pages 21 to 34 were approved by the trustees, and authorised for issue on and signed on their behalf by:
............................................................ ............................................................ N Roy, Trustee S Demuth, Trustee
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Statement of Financial Activities for the year ended 31 December 2024
| Note | Unrestricted funds |
Designated funds |
Restricted funds |
Total 2024 £ |
Total 2023 £ |
|
|---|---|---|---|---|---|---|
| £ | £ | £ | ||||
| Income and Endowments from: | ||||||
| Dontations and legacies |
2 | 261,831 | - | 218,496 | 480,327 | 72,685 |
| Charitable activities | 3 | 379,162 | - | - | 379,162 | 297,506 |
| Other trading activities |
4 | 2,302 | - | 1,900 | 4,202 | 2,780 |
| Investment income | 5 | 12,576 | - | - | 12,576 | 6,155 |
| Other income | 15,000 | - | - | 15,000 | 31,772 | |
| Total income | 670,871 | - | 220,396 | 891,267 | 410,898 | |
| Expenditure on: | ||||||
| Raising funds | 6 | (38,841) | - | (5,168) | (44,009) | (46,959) |
| Charitable activities | 7 | (439,790) | - | (1,033) | (440,823) | (353,177) |
| Total expenditure | (478,631) | - | (6,201) | (484,832) | (400,136) | |
| Net income | 192,240 | - | 214,195 | 406,435 | 10,762 | |
| Gross transfers between funds |
(242,486) | 242,502 | (16) | - | - | |
| Net movement in funds |
(50,246) | 242,502 | 214,179 | 406,435 | 10,762 | |
| Reconciliation of funds | ||||||
| Total funds brought forward |
2,189,924 | 696,498 | 28,228 | 2,914,650 | 2,903,888 | |
| Total funds carried forward |
18 | 2,139,678 | 939,000 | 242,407 | 3,321,085 | 2,914,650 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 17.
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Cash Flow Statement for the Year Ended 31 December 2024
| Note Cash flows from operating activities Net cash income Adjustments to cash flows from non-cash items Depreciation 6 Investment income 5 Other income Working capital adjustments Decrease/(increase) in debtors 15 (Decrease)/increase in creditors 17 Decrease in deferred income Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income 5 Purchase of tangible fixed assets 13 Net cash flows from investing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December |
2024 £ 2023 £ 406,436 10,762 34,539 33,280 (12,576) (6,155) 15,000 31,772 |
|---|---|
| 428,398 37,887 |
|
| 901 (95,174) (5,732) 10,810 - (4,951) |
|
| 423,567 (51,428) |
|
| 12,576 6,155 - (87,264) |
|
| 436,143 (81,109) |
|
| 436,143 (132,537) 507,444 639,981 |
|
| 943,587 507,444 |
|
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 8 to 23 form an integral part of these financial statements.
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Notes to the financial statements for the year ended 31 December 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Hearts Together CIO meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
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.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
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.
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Notes to the financial statements for the year ended 31 December 2024 cont.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets 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 Depreciation method and rate Fixtures and fittings 20% on cost Motor vehicles 4 years straight line Land and buildings 2% straight line
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
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.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
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.
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Notes to the financial statements for the year ended 31 December 2024 cont.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. Investments in subsidiaries and associates are measured at cost less impairment.
For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
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Hearts Together
www.heartstogether.org.uk
Notes to the financial statements for the year ended 31 December 2024 cont.
2 Income from donations and legacies
| Donation and legacies; Donations from individuals Legacies and in memoriam Grants, including capital grants; Grants from other charities Donation and legacies; Donations from individuals Legacies and in memoriam Grants, including capital grants; Grants from other charities |
Unrestricted funds |
|---|---|
| Designated £ General £ Restricted funds £ Total 2024 £ - 20,643 5,336 25,979 - 241,188 4,720 245,908 - - 208,440 208,440 |
|
| 261,831 218,496 480,327 |
|
| Unrestricted funds Designated £ General £ Restricted funds £ Total 2023 £ 36,281 - 1,623 37,904 4,263 - - 4,263 4,404 12,393 13,721 30,518 |
|
| 44,948 12,393 15,344 72,685 |
|
3 Income from charitable activities
| Provision of accomodation Feed In tariff Other income |
Unrestricted funds |
|---|---|
| General £ Total 2024 £ Total 2023 £ 357,630 357,630 297,506 17,612 17,612 - 3,920 3,920 - |
|
| 379,162 379,162 297,506 |
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Hearts Together
www.heartstogether.org.uk
Notes to the financial statements for the year ended 31 December 2024 cont.
4 Income from other trading activities
| Unrestricted Funds General £ Restricted Funds £ Total 2024 £ Total 2023 £ Local fundraising and street collection income 2,302 1,900 4,202 2,780 5 Investment income Unrestricted Funds General £ Total 2024 £ Total 2023 £ Interest receivable and similar income Interest receivable on bank deposits 12,349 12,349 6,043 Other income from fixed asset investments 227 227 112 12,576 12,576 6,155 6 Expenditure on raising funds a) Costs of trading activities Unrestricted funds Designated £ General £ Restricted funds £ Total 2024 £ Fundraising trading costs; Fundraising - 3,493 209 3,702 Costs of goods sale - 29,487 - 29,487 Allocated support costs - 5,861 4,959 10,820 - 38,841 5,168 44,009 Unrestricted funds Designated £ General £ Restricted funds £ Total 2023 £ Fundraising trading costs; Fundraising 6,640 4,849 - 11,489 Costs of goods sale - 33,588 1,882 35,470 6,640 38,437 1,882 49,959 |
Unrestricted Funds General £ Restricted Funds £ Total 2024 £ Total 2023 £ |
Unrestricted Funds General £ Restricted Funds £ Total 2024 £ Total 2023 £ |
Unrestricted Funds General £ Restricted Funds £ Total 2024 £ Total 2023 £ |
|---|---|---|---|
| 2,302 1,900 4,202 2,780 |
|||
| Unrestricted Funds General £ Total 2024 £ Total 2023 £ 12,349 12,349 6,043 227 227 112 |
|||
| 12,576 12,576 6,155 |
|||
| Unrestricted funds | |||
| Designated £ General £ Restricted funds £ Total 2024 £ - 3,493 209 3,702 - 29,487 - 29,487 - 5,861 4,959 10,820 |
|||
| - 38,841 5,168 44,009 |
|||
| Unrestricted funds | |||
| Designated £ General £ Restricted funds £ Total 2023 £ 6,640 4,849 - 11,489 - 33,588 1,882 35,470 |
|||
| 6,640 38,437 1,882 49,959 |
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Hearts Together
www.heartstogether.org.uk
Notes to the financial statements for the year ended 31 December 2024 cont.
7 Expenditure on charitable activities
| Expenditure on charitable activities | ivities | ivities |
|---|---|---|
| Unrestricted funds Designated £ General £ Restricted funds £ Total 2024 £ Provision of accommodation - 388,578 1,033 389,611 Grant funding of activities - 524 - 524 Allocated support costs - 50,688 - 50,688 - 439,790 1,033 440,823 Unrestricted funds Designated £ General £ Restricted funds £ Total 2023 £ Provision of accommodation 7,456 281,094 3,420 291,970 Allocated support costs 1,704 59,303 200 61,207 9,160 340,397 3,620 353,177 Analysis of support costs upport costs allocated to charitable activities Total 2024 £ Total 2023 £ Governance costs 5,325 19,291 Premises costs 6,008 5,136 Depreciation 34,539 33,280 Other support costs 4,816 3,500 50,688 61,207 Net incoming/outgoing resources Net incoming resources for the year include: Total 2024 £ Total 2023 £ Depreciation of fixed assets 34,540 33,280 |
Unrestricted funds | |
| Designated £ General £ Restricted funds £ Total 2024 £ - 388,578 1,033 389,611 - 524 - 524 - 50,688 - 50,688 |
||
| - 439,790 1,033 440,823 |
||
| Unrestricted funds Designated £ General £ Restricted funds £ Total 2023 £ 7,456 281,094 3,420 291,970 1,704 59,303 200 61,207 |
||
| Designated £ 7,456 1,704 |
||
| 9,160 | 340,397 3,620 353,177 |
|
| Total 2024 £ Total 2023 £ 5,325 19,291 6,008 5,136 34,539 33,280 4,816 3,500 |
||
| 50,688 61,207 |
||
| Total 2024 £ Total 2023 £ 34,540 33,280 |
8 Analysis of support costs
Support costs allocated to charitable activities
9 Net incoming/outgoing resources
10 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees: E Harding
The CEO, Liz Harding, has been appointed as an ex-officer trustee by the trustees. The constitution of the CIO allows for this appointment and that she may be remunerated for her role as CEO.
The remuneration paid during the year was £61,929 together with pension contributions of £2,201. None of the remuneration was paid for acting as a trustee.
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Hearts Together
www.heartstogether.org.uk
Notes to the financial statements for the year ended 31 December 2024 cont.
| 11 Staff Costs The aggregate payroll costs were as follows: Wages and salaries Employer Pension Employer NIC Other staff costs |
2024 £ 2023 £ 284,563 206,956 9,447 6,757 19,310 11,091 26,107 1,388 |
|---|---|
| 339,427 226,192 |
The monthly average number of persons (including senior management/leadership team) employed by the charity during the year was as follows:
| Staff | 2024 No 2023 No 14 11 |
|---|---|
The number of employees whose emoluments fell within the following bands was:
| agement/leadership team) employed by the charity during 2024 No 2023 No 14 11 |
agement/leadership team) employed by the charity during 2024 No 2023 No 14 11 |
||
|---|---|---|---|
| llowing bands was: | |||
| Cost At 1 January 2024 At 31 December 2024 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 £60,001 - £70,000 |
Land and buildings £ Furniture and equipment £ Motor vehicles £ Total £ 2,037,264 72,539 21,974 2,131,777 2024 No 1 |
2024 No 1 |
|
| 2,037,264 72,539 21,974 2,131,777 |
|||
| 27,786 72,539 10,988 111,313 29,045 - 5,494 34,539 |
|||
| 56,831 72,539 16,482 145,852 |
|||
| 1,980,433 - 5,492 1,985,925 |
|||
| 2,009,478 - 10,986 2,020,464 |
|||
Revaluation
The fair value of the company’s Land and buildings was revalued on 1 January 2023 by Bruton Knowles, an independent valuer.
Had this class of asset been measured on a historical cost basis, their carrying amount would have been £887,400 (2023 - £887,400).
Hearts Together
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www.heartstogether.org.uk
Notes to the financial statements for the year ended 31 December 2024 cont.
| Other investments Other investments Cost or valuation At 1 January 2024 At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 15 Debtors Trade debtors Prepayments VAT recoverable 16 Cash and cash equivalents Cash at bank 14 Fixed asset investments 17 Creditors: amounts falling due within one year Trade creditors Other taxation and social security VAT Accruals |
2024 £ 2023 £ |
|---|---|
| 2,242 2,242 |
|
| Listed investments £ Total £ 2,242 2,242 |
|
| 2,242 2,242 |
|
| 2,242 2,242 |
|
| 2,242 2,242 |
|
| 2024 £ 2023 £ 28,469 26,102 396,978 397,480 - 2,766 |
|
| 425,447 426,348 |
|
| 2024 £ 2023 £ |
|
| 943,587 507,444 |
|
| 2024 £ 2023 £ 2,265 22,249 12,422 5,888 15,379 - 6,050 13,711 36,116 41,848 |
Hearts Together
31
www.heartstogether.org.uk
Notes to the financial statements for the year ended 31 December 2024 cont.
18 Funds
| Unrestricted funds General General fund Cath Lab Revaluation Reserve Designated Vehicle Fund Refurbishment Fund Build Project Total unrestricted funds Restricted funds Rame Head Fund The Big Build Reach Co-Op Groundworks Westfield Health 2024 Festive Appeal Ann Cross Cruicible/Ludlow Postcode Lottery Total funds |
Balance at 1 January 2024 £ Incoming resources £ Resources expended £ Transfers £ Balance at 31 December 2024 £ 1,196,369 655,871 (451,331) (242,486) 1,158,423 15,000 15,000 - - 30,000 978,555 - (27,300) - 951,255 |
|---|---|
| 2,189,924 670,871 (478,631) (242,486) 2,139,678 |
|
| 10,000 - - 5,000 15,000 16,000 - - 8,000 24,000 670,498 - - 229,502 900,000 |
|
| 696,498 - - 242,502 939,000 |
|
| 2,886,422 670,871 (478,631) 16 3,078,678 |
|
| 16 - - (16) - 13,340 9,432 - - 22,682 4,959 - (4,959) - - 3,913 - - - 3,913 1,000 - - - 1,000 5,000 - - - 5,000 - 614 (209) - 405 - 2,000 (1,033) - 967 - 138,440 - - 138,440 - 70,000 - - 70,000 |
|
| 28,228 220,396 (6,201) (16) 242,407 |
|
| 2,914,650 891,267 (484,832) - 3,321,085 |
|
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Hearts Together
www.heartstogether.org.uk
Notes to the financial statements for the year ended 31 December 2024 cont.
| Unrestricted funds General General fund Cath Lab Revaluation Reserve Designated Vehicle Fund Refurbishment Fund Build Project Total unrestricted funds Restricted funds Rame Head Fund Awards for All Arnold Clark The Big Buld Reach Co-op Groundworks Westfield Health Asda community grant Groundwork Total funds |
Balance at 1 January 2023 £ Incoming resources £ Resources expended £ Transfers £ Balance at 31 December 2023 £ 1,864,991 333,690 (351,534) (650,778) 1,196,369 - 15,000 - - 15,000 1,005,855 - (27,300) - 978,555 |
|---|---|
| 2,870,846 348,690 (378,834) (650,778) 2,189,924 |
|
| 5,494 - - 4,506 10,000 8,000 - - 8,000 16,000 - 44,948 (15,800) 641,350 670,498 |
|
| 13,494 44,948 (15,800) 653,856 696,498 |
|
| 2,884,340 393,638 (394,634) 3,078 2,886,422 |
|
| 344 - (328) - 16 3,420 - (3,420) - - - - (46) 46 - 15,784 5,839 - (8,283) 13,340 - - (200) 5,159 4,959 - 3,951 (38) - 3,913 - 1,000 - - 1,000 - 5,000 - - 5,000 - 1,220 (1,220) - - - 250 (250) - - |
|
| 19,548 17,260 (5,502) (3,078) 28,228 |
|
| 2,903,888 410,898 (400,136) - 2,914,650 |
Hearts Together
33
www.heartstogether.org.uk
Notes to the financial statements for the year ended 31 December 2024 cont.
The specific purposes for which the funds are to be applied are as follows:
-
Rame Head Fund - Used for a defib many years ago and remaining funds are held to cover replacement parts Awards For All - Funds were used to specifically cover counselling provided to guests with a Cornwall address Reach - This is build specific and is used against any services provided by Resonance
-
Co-op & Groundworks - Both to be used to fund our free lunch service The Big Build - Build specific donations and fundraising Westfield Health - Build project
-
Asda Community Grant - A cost of living grant so was applied for specifically to help us cover increased food costs for complimentary food to guests
-
Groundwork - Providing food hampers and gifts to adults and children who stayed with us over Christmas 2024 Festive Appeal - For buying guests in house at Christmas a small hamper, crackers and Christmas dinner Ann Cross - Donation in memory of Ann's husband towards garden furniture and running of the shuttle bus Cruicble/Ludlow - A grant to fund 2 rooms as part of the new build project.
-
Postcode Lottery - Funds from Postcode Lottery towards the new build project
19 Analysis of net assets between funds
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds |
|---|---|
| General £ Designated £ Restricted funds £ Total funds at 31 December 2024 £ 1,985,925 - - 1,985,925 2,242 - - 2,242 187,627 939,000 242,407 1,369,034 (36,116) - - (36,116) |
|
| 2,139,678 939,000 242,407 3,321,085 |
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds |
|---|---|
| General £ Designated £ Restricted funds £ Total funds at 31 December 2023 £ 2,020,464 - - 2,020,464 2,242 - - 2,242 209,066 696,498 28,228 933,792 (41,848) - - (41,848) |
|
| 2,189,924 696,498 28,228 2,914,650 |
20 Related party transactions
During the year the charity made the following related party transactions:
The directors of Heartswell South West Ltd are also trustees of Hearts Together CIO. At the balance sheet date the amount due to/from was £Nil (2023 - £Nil).
Hearts Together
34
www.heartstogether.org.uk
Hearts Together 7 Blunts Lane Derriford, Plymouth PL6 8BE
T: 01752 315 900 E: info@heartstogether.org.uk W: www.heartstogether.org.uk
Hearts Together is a registered charity in England and Wales (1183181)
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