charl￿ regsrraiion number.. 1184472 International Cardiomyopathy Network (ICON) Annual Rewjrt and Financial St￿ements for the Year Ended 31 December ?0?3 Hod%on & Co Nviston Ho￿￿e I WLSItsD Avenue Worthing We$L Susse¥ BN14 7QL InternatlODal Cardiomvopathv Network IICoN} CoDteDts R¢terence and Adminrstratib'c Details Trustees, Report 105 IndLT)cn(L.nt Ex￿l￿￿y's Rly) Statemelll FiThancial Actii'kites Balance Sheel Notes to thc Finartcial Ststemcllt$ InternatlODal C4rdiom!'opathv Network (ICON) Relerence and .4dminlstrat5ve Detai15 Chairm* Prvf Pe￿Y Ellio Charit). RegisirAtion Number 1184472 Regi5t¢red Office CIO Cardiom)"OPdthv UK 7Sa IVo(Mlside Road Amersham Bu¥kn"nglwll5hir¢ HP6 6L4 Illdtptttdent Eximiner Hthn&Co W151on Ilouse I wi.ston Avenue IVoTthin¥ Ve5r Sussex BN14:QL Page I nternalional CardiomTr'opatbv N'etwork (ICoN} Trnstees, Report ThL tnjsrees. prescnt the annual report tog¢th¢r with th¢ tinanrial 5Llt¢mcnts vf th¢ ¢harity tUT the ytrar cndcd 31 Deccmber ?O?- Objectives activitits Public. bviiefil The objecis of Ihe charitw ds sei out in its £overwn(r documeni are- (I} Tu ddkallie ihe education of healihcari profeiSitsll21s on the subjeci of cardiomyopathy 2nd related diseases of Iht heart tt)U5ck through th¢ proNision Of edtsiatiottal learniA¥ uppurturtilies uihcr meihthis that tmstee s¢¢ fit 50 as to Impro￿.£ Ihc dettction and Irtatment of such dJ"sra5¢s for th¢ public bcnetiL (?) To inwroN'e the health of pLx>pl¢ atTcctcd by cardiomjopathv and rclarcd d1%35C5 of th¢ hcan muscle thIou&Th Ihc promotion and fttcilitsiioll of ￿searc￿l for rhc public bcncfii in all a5tKcr5 of &irdiotnvoparh)' atKI reldted d￿se￿5 of the htdrt mui¢l¢ bv prO￿ld1nLT nenh"orLinu opportuniiies foi iesearcheT5. SUPPOrt and ad%"ice io researchtrs and orher tneaDs In￿[¢¢5 5¢¢ fil. 131 To adv2nte ¢he cducation of healthcare professionals wDrldwide through Ihe disseminaiion of Ihe Tesulis OF research into Cardiomvopaihy and related diseases of the heart muscle. (41 To itnpiove the he&lih ol people affected bv cardiomTropaihy and diseases of ihe heart Tnuscle ￿￿)rI(￿N.1d¢ IhrL)ugh the creation. monilorinu and divelopmeni ol-relevant 8uida#ce on ihe treduneni ofsuih disease￿. {51 Tu improve the health of p¢ople affeiltd by cardiotnyopaihv ivorldiyide through collaboraiioll iyiih relevant stak"eholdcrs ￿ advoLatin8 for impTh)ved a¢tL%S lo Lrtdiment IUF pevple affecied bv such diseases. {6} To increase al￿ren￿Ss of cardiomyopathy and relat¢d disorders atnons th¢ s¢n¢ral publjc and the supp)rt and infonnalton availabl¥ 14) peoplc with caTdioMyopathv and relatrd conditions. The trnsiees confitrn thai Ihev hait Lomplied i¥ith the re4uirement5 of seLliOrt 17 of the Cjwities ALI 90 I I to ha%"e due regard 10 the public bcncfjl guidatste published bv ihe Chariry Commiuion for England and IVal¢.q. Achiewemellts aud performaRce In 7023, 1-ru81¢¢% %4'erc able to make significant piogiess line with thetr agreed programme uf aLlJvJlie%. Durinu thc year, Tnisices ivork¢d Th'ith the 5UPPOrt of rndependeni coThsultsnts. The Ilealih Polic}. Partnership, ro Lreat¥ their manifthto fi)r the fupjrc of cardiomvop41thy Lar¢. The manitesio deweloped based i)n desk rcscarth and struciured illtervje￿,S iviih expirts in C￿d1￿mYUpathY and relevant fjelds., iJJcludin¥ pevpl¢ I1￿1n¥ ith Ihe condition and th¢ir lJmilv merttbw5. he31ihc3re proftssiona15 and industr) repr¢sentaiive5. lkne tnanifesto offi¢islly launched in DecimlKr 10?3 ai Ihe -.nd Euro￿an Symposium on Pthre and genetic Cardioi'ascular Disfases in Naples. Trustee5 are plcaied Io Tepon thai the chanty s ivebsite {￿)￿..¢ard10mVopdIby-lLory.orSl has [￿W been launched. This iirbsiie will crtsute thal th¢ charitV'5 duca4ional and policy 1¢50UICts can bc accessed by a widknr audi¢n¢¢. lu addition lo this. Ihree onlithc Llinical -Hean Muscle Talk%" ￿rre producLYI dunng th¢ vrdr providin&p easy io aciess ILaming opportuDirie5 for cardioluoist aNi O￿Ts With init￿st in cardiomyopilthy. Talks wrre recorded Jnd are a￿lIable the chariry s website. FinaniiAI r¢vi¢m' Durin? the Irustets ivert able til secure 5p)nsor5hip from Tenaj? Therapeuiics to add to support secured in 20?? from rtlree phartnaccurical companits: AstTaltrtcca: Sanofi and Bnsiol Myc¥s S4uibb and Ihe biotec1￿010￿ comw).. Illumirta_ The toiJ incomc tccciycd duriDD thc YC￿ £46K. was enou(Yh 10 dclivci LhL lirsi phasi o( is pulity 5Clting and Slraiegic deNelopft￿rtl iv0￿. Tn￿trL￿ arL" eotiftdeni ih* spon%ori i¥ill ioniinue 10 supwn th¥ chariiv in ?024. International Cardiomyopathv Ne￿,or￿ {ICoN) Trustees, Report Pulio. r¢serv*s The h￿￿'t examined the chariw's requirements for reser¥es Én ligbt of the main nsks to ihe or8an15atiorJ. The rrustees aciii'ely rcfv'tcw the major ri>ks ihat the chaniy faces on a Te?ular basis and. combined, Ki'ith ihe annual revieiv of the ¢ontrols oi.ct key financial svstems. t￿1] pro￿1(￿ sllfficieni rcsources in the eveni ot adverse ¢undilions. The Itusie¢s ha￿¢ also e.xatnill￿ oiher Owalional and bJsines5 risks faced by the charity and cojifirm that Ihe} have establi)h￿ sysiell￿ io mi(Égate ihe %i¥nificant ti5Ls. Th¢ trnsiees havc agTccd that the chaTlty should &im i() hale unTtrtiicied r¢smes n)utrhlv equii'alent i(> ihrec months, runnillLTr co%is in order 10 guanj auainbt Tibk. un¢xp¢iied flucrualions in incom¢ ur tsther eTTrer¥eneiei as ￿ell as meetinu aTry obli¥atiuns in the ei'eni lif closure. At 31 December 20?3 the cbrfuitv has a 5rna]l uDrestricted rtserve fund but intrllds to tncr¢asc r¢seti'¢s oi'er rhe next l? months. PlaTAS for fu¢ur¢ period5 .4iM.f key objeclive5f&rfuthreperiods In 2024, Trustees will aim Lo build achieven￿nts lo dale attd in particular. explore ways in M.hiLh til bring about changis called lor in its Manifl￿10_ Trusties also plan lo conlinuc its dei'elop the charity's website and provide futthei'heart m￿¢1¢ ts]kg" a]Kl oth¢r ltraming opportunities for clinicians. GoiRg coN¢ern -rhe chtsnly has res'ieii'ed it's financial ￿fO￿an¢t and 4enerdl Tesem positton. The Charity has adequate rinaEL¢ial r¢50urces and LS able to matlage il'% busin¢%> riiks. The th￿ty5 planninu process bai iaken inio con5ideraiion the currenL economic CliM￿e atld its potentitsl itr1￿[ 4)n ille i'arious sources of incotne and pldnned expenditure. Taking into accouni all laLiors ihe chariiy has reasonable expertaiion that li has adequat¢ resources lo continue opciaiional cx)51cnce lor thc toreS￿abIC future and ￿lie￿.¢ ihai there no malerial unttrtainlieb thai Lall inio Lhe LI￿lly'S abiliLy ctsniinue in operaiion. Trustees and offieers Th¢ Iruii¢¢S and offikn¢rs ser¥ing during the y¢ar alld since the l'ear end wTre ** follows.. Tnjsrees". Dr Juan Ramon Gimeno Blanes ProfLucie Carrier Prof Pctry Elliott Prof Eloisa.4rbustiTri Prof laiopo Olivolto Prof Juan Pablo Kaski Profjoianda ￿en tkr Velden Prof Ales Linhart Dr Arioidcs A￿￿sak15 Chaiman". Prof Perrv Elliott Page 3 International Cardiomyopathy Ni 'eh%'ork (ICON) Trnstees. Report In memoriam Tru>t¢eb are very SOTrv to report that Profcssor Claudio RapL7Zi. onts of the founding rnLxllbers of ICON. sadly PJSbed 4i&a)'. Claudio a man of kecn illiilleci. g￿Ki huttjour and k'indness. and had been a pillai Lif the cardiomyopathy communifv tgr more ihan three dccadts. He made a substantial scientific coniribuliÉ)n to the fiel(L but will be In0￿ rememb¢ied as an in)Trirational i&icher a￿1 mentor Trith a lifelong p&ssion for Improve the lik'es uf people dlfttied bj cJJdiom)'opath}". Sirneture, ￿0￿er￿anCe *nd management re of2overKing documenr Th¢ bhariw is registered as a charitable incorptspditd or¥anisaiion ICIO}. The memberb olthi CIO are iis. chariry trustees. The only pcrsons ¢ligible its b¢ m¢mbc¥s Of th¢ CIO ar¢ 115 ¢hariry InJsi¢es. Mimbcrship of ihe CIO cannor be tran%ferred io an%"one else. .4ny member ch9ri￿. trubiee ￿h0 ¢ea>¢S io be a Ch￿lty mjsiee autsimalicJlly ¢ea5es lo be a tnernki ot ihe CIO. Apart frorn ihc first charitv injsrtts, ei'eTV Irusiee must be app)inted for a remi of .1 years by a rcsolution p&%5cd at a Properly convlned meetintr of the ¥hatiry In￿(ee$. In sele¢iints slldii'iduals (or ap￿lIn￿ent as charitv ttuslet5. Ihe ihaii4V Ilustecs musi have re¥ard io Ihe skills. kTh)wled£e and expcrience needed fur th¢ effeclive administraiion of the CIO. The board has the poiYeT io appoini additional irustces as it consider5 fil lo do so. None ofihe tDJslees h&$ at)v beneficial inieresl in the Lhariiv. InduL*on andtraining olirusiees Poleniial irusiees are selecred on the basis of rheir per￿n31 qualitses, eommiimeni and familianty iviih the issues ini'olk"ed. Neiv arc madc tamiliar ￿7Th ihc charitv i'ision. OPCTaiion and ooals ￿. dialotsuc iviih existints pe15urknel and pro￿lsiOn literaiure pertaitLill8 Lo charity aciiviiy_ All trustccs are already familiar wilh lh¢ Pfdiiiial wurk of the ihaTilV. irusiees are encouragtd to alt¢sid all mana¥cmeni conunitlee meelings. Short Inining sessions (If Te4uirtdl 10 familiarise new tn)51eo4 i1.iili IhL harity and the context i￿.1th]n which il optraies are pmvided Iniernally. The chaTiIy 15 OTganIsed 50 th31 the ttuste4s tD¢ei ￿￿￿larlY lo tDaDa£e ils al"laiF%. The tru5teei rtK*l at leasl quancrlTr' with additional mLflings rLquired. The Lharii) 1> ()VLnsL￿'D bv thu In￿lies. The oNani5alion opcratcs in the UK trvm premises Ln Ameriham. Kcy 51rate. Joel Ros< the Chief Execulivc olcardiomvopathv UK. International Cardiom)'opatby Neh%'ork (ICOY) Trustees. Report Relationships with related parties Cardiumyopaihv Uk {Fegyi51Lred Lhariry no. 1164?6i) PToNid¢d 8O%trnanc¢, administsatj￿c. fundraising and ac¢outttancy supp)rt 10 ICON, durit)o Ihe Near for ￿'hICh li I￿a5 pahd £li.000. Prof. Perry. Ellioll is the PIE*ident of C￿di0￿YoPjthY L'K. Boih organisa¢i0fi5 shar¢ th¢ go21 of adi'ancing the cart 3nd ttedimeni of people 8ffe¢ied b>. cardiom}'opdthy. Fittatttial irtstruments Objetiive.s tsndpvliLies -Che ch&riry only has linancia] assets and financial liabilities of a kind thai quality as basic financlal IDsrrument%. Basi¢ financial insirnm¢nis aTe initiall). wognised at transaction a[￿ bub%eqllenily Me￿Ured ar their 5clllem¢lll V'aluc with the ￿LePtIon of bank loatLS Mhich a￿ subsequthtlv measured at aJnorti5ed tosi llsing ihe effe¢iivc ioKr¢st ￿¢th￿. StstcJneDt of trustees. responsibiliti¢$ Tht tTUStets tre reiponsiblt for preparing the trusicts. report and thc fiun¢ial ststtments in accoTdallre tlith 4pplicablc law. and United Kinvdvtn A¢¢ounting SwKlar& (Uniioj Kingdotn Genernlly Accepied .4ccountin¥ Practicc). Charity SORP requires Ihc ITUSlCts to prepare financi21 siaterncnts for eath fiDancial ¥ear. Thc trU￿CeS tnust noi approvc Ihc financial statemenis unless thes aTe utisfied thai thcy oiTrc a truc and f< %.1¢￿. of the state of affairs of Ihe charity and of the rc50urccs and appli¥aiion oft￿OUrces. including 115 illcL)¥Tre and expenditure, L>fih¢ charity fi)r thal period. Iii preparing Ihese finaThiial 51atemcvts. the I￿51te5 are required io.. seleci %uitablL accoulltine policies and applv them ¢Oniiiicnily, observe ihe meih(xJs piinciples iD ihe Chatitie% SORP.. mtke Juducml and t¥timatei that arc ￿asOnable and Prudent: sLkle whether applicable accouniins sL￿dardS have been lo11ts￿*L subjttr to any material depJrtUT&S di5¢1osed and eKp13Jned in the fiTLaneial statements.. and preparL Ihe finatlcial sthiements- on the going roncetn basis unlcss li is inappropriale to pregum¢ thai Ihc Lharity will ionijnue in business. TIEe trustttb respon5Lble for ktepiDg accounting rettsrds that disclosc iviih r￿Onable accuracy at any time tht financial poshiion of Ihe charity. The). are also te5poThsible (or safeguarding the assets of the charity and etLLe lor tak￿¥ reasonable steps for Ihe pre%eniion and delectlOE] of Iraud and other irrequlariiie5. Th¢ a[￿Ual report w'as approN"ed bv ihe trLLS¢ttS of thi charitv on...10.￿.2024. and Si2￿,d on its behalf by.. Pruf P¢rr) Elliott chair￿an and t￿￿¢¢ International Cardiomvopathv Ni 'etwork (ICON) l￿dependent Examiner's Report to the trusttts of IDternational Cardiomyopathv Netliork (ICON) {'Ihe Comp4nv') I report to the chants" I￿￿tee5 on Tnv examinaiion of rhe accounis of Chanty Cor the ¢nded 31 Dett￿be1 2023. Re5PTrTt5ibilities and basis of report As ihL charity'i trU￿TteS }'ou arL re3P)nsiblt fur the preparation of th¢ accounti. Thc chariTh"'5 ¢tust¢¢s eonsider that &n Judit is nol rt4UiTed Ivr fhis ycar under 5cciion 144 of Ihe Charili¢s A¢¢ 2011 I"thL Chariiies Aa'l and that an i￿ependen[ e.iaminaiiork is nL*Thded. Having sau5fied myselt- ihat the cknrity is r￿( subjeci (o audit and is ell￿ble for indepthdeni examination: it is my responsibility io.. ¢xamine the #¢counl% under section 145 of lh¢ Chattiie5 Act. . tv follow the procedures laid do1￿￿ in the general Direcuons gii'en by the Charity Cottllnission lunder seciion 1451i)Ib) of the Chaniie5 Act). and ' ro 5t2ie ivbether parucular mallers bave come tt) my a￿￿110 Basis of independertt exarniner's Stat£￿ellt My Cxamination Larried out in Jceor£lancc with genernl Direiiions given by ihc Chatity Cotntnission. An examinatiorn Includes a review of the accounting rccoids kept b), the Lhariry and a Ciimparison of th¢ a¢¢ounts prL's¢nied thuse Tecords. Tt 3150 includes considciairon of Jny unusual it¢tll5 or disclosur￿ in th¥ accounts. and ￿Ck7[j¥ explar>atrtsns from the trustees concetninu anv such matt¢ts. The piuc¢Jures under￿ken dKJ nul pro￿"1de all the ekidence that bL" rcquired Ill an audi4 and c4)n>e4uenily no opinion i5 given a£ 10 ivhethtr the accounts pttseni a 'irue and fair view the report is Iimiied ro Ihost matters set out in tht Sfatemenl below.. Independent Ex#miner'$ statement In collnecliori i&"Lrh mv eKaininarion. no m4Llerial mallEf5 have come to my attcTLlion kn'hieh me cau.8c (o believe thai ill: any material re%peei= the aLLOUntinL re00r￿ iveie uoi kepi itk a¢iuidall¢e iviih >LCtt(pn 130 of the Chariiies Ac(; or the accounts dsd not a￿COrd li'idi ihe accouniing record5.' or the accounis did not compl) wilh the applicabli fLqU¢Timcnts c(Trnccrninu form and wntctlt of accouiiis sel L)ui in the Cljariiies (Accounii atkd R¥port¥) Reguldlion5 ?iIOS uther than any requiremeni Ihai the aLb(li￿Ls giiK'¢ d'irne and lair" vlei￿. M'hiLh is niil a tn41iier cot2SLd¢reil ab part vfan i[MIe￿n￿elli exxmJ]Liiion. I hake cotne across tK> oih¢r maners in connection Wilh the examitlation w which attention should be draw￿ in Ihis r¢ iird¢r tv etkiiAe a pn)P¥r ut)dirsiaDding of the accounts to be reached. NIJiLhiI4 FC'A Wiston Housc I Wi¥ton Avenu¢ Wonhing West Sussex BN14 7QL Pag¢ 6 InterDatioDal Cardiom}opathy Network (ICON) Statemellt of Financial Actii'ities lor ihe Year Ended 31 December 2023 (Including Income and Eipenditure Ateoullt and Statement of Total Reeognised G01115 and Losses} Unr¢5triEted Restricted luDds Total 2023 Incomt Endov4mettts Irom: Charitable ttclivjlies InvestTT)eni inco￿¢ 45.586 Total iDCOTn¢ 135 Eipenditure on: Rai%ing funds Charitsble activities (1861 (104.794 {1861 104,794 Toial expenditure N¢1 incL)tELd{¢xp¢n41iture) (104.9801 104,9801 i9,3941 "59.?59 Net movement in fimds 135 {59:3941 139,259) Reconciliatinn of funds Toial funds br(>ught foNaTd 78,437 78.)88 Tvtal funds ¢affi¢d f0rn2rd 13 186 19.143 Re5tri¢ted 19,i29 TTrtal 21122 nrestricied fund5 lote Intome 4Bd EDdoMmeJ)is from: Dvnthtions and leeaiies CharLTJble ￿tIVItieS InTrestmeni in¢omc 19 19 120.306 32 1 ?0.306 Total inc(Itne 1?0.306 1 ?0.357 Expenditure on: Charjtable aclis-lties 141,769 (41,769 Tottl eipendilure N¢t incom¢ 51 78.588 Ner tMvcmenr in funds 78.537 Rt¢on¢iliaiion of funds Total funds catticd fotward 13 All of Thi ch4iritrJ 5 actii"Iftes derive from continuing operaiions during the abffi"L hvo P¥ri(xls. Tkn lunds breaLdoivn tOT ?0?? is 5hoiim in note 13. The rkolts on pagcs 9 ￿ 15 fomi an iDLegrnl part of financial sialemcnts. Page 7 Intern2¢ional Cardiomy"opatbTr Nehvork (ICON) Balance Sheet as at 31 December 2023 2U23 2022 Current assets Debtors Cash at bank and in hattd io 37,202 83,10? 19.911 1 ?0,3(14 Creditor5- Amount5 falling due within one }e¥r Net assets i82 19.3?9 18.588 Funds oftlxe tharity: Restricted income funds Risiricted fr￿d- 19.143 78,537 Unr¢%tricted income lunds Ulltesiricied funds Total fllnds 13 78,588 Thc financial statcmenls on pJge$ 7 10 15 11.cre approved by the twstecs, ar￿ auihorised for issue on .I.Qffjfj.2024.- and signed on iheir behalf by. Prof PtrTh' I:Ilioit Chairman and Yusic The notes on pa¥¢s g 10 15 fvml atl inlcgrdl of thcsc financial StsicTnCnts. Pdkye International Cardiomyopathy Network (ICON) Notes to the Financial Statement5 for the Year Ended 31 December 2023 I Charity status The charity is a Charithble Incorporated or￿l$allOn (CIO) and consequently does not have a share ￿pItal. The address of its registered office is". CIO Cardiomyopathy UK 75a Woodside Road Arnersham Buckingham5hire HP6 6AA These financial statements wae authorised for issue by the tystees on 10 June 2024. 2 Accounting policies Summary of SIgnif￿ant aceounting policies and key aeeounling estimat¢5 The principal accountinij poli¢ies applied in the prepaTarion of these financial stat¢ments are Sei out below. These policies have been consislently applied to all the year5 presentr4 unless othejwise stated. State￿ent of coznplianee The financidl siatetn¢nts have been prepar￿1 in accordance with Accounting and Reporting by Charities.. Statement of Recotnmended Practice (iipplicable to charities prepariD" their accounts in accordartce with the Fijiancial Reporting StsThdard applicable in the UK and Republic ofireland (FRS 102}) (issued in October 20191 (Charities SORP (FRS 102)). the Financial Reportino Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Basis of preparation International Cardiotnyopathy NeNotk (ICON) tneets ihe definition of a pvblic benefit entity under FRS 102. Assets and liabilities are initially reco8nised at hi￿or1¢al cost or ttansaction value unless othetwise stated in the relevant accounting poli¢y noies. oing concern Tlie trusiees ronsider that thcre are no maierial uncertaintie5 abour the charity's ability to continue a5 a going concem nor any significani areas of uncenainiy that affect the carrying value of assets held by the charity. The trustees have a reasonable expectation thai the charity will conrinue in oper*ional existence foT th¢ foreseeable future. The fjnancial ￿atementS have therefore been prepared on a going concetn basis. lllcome and endowmtnts All income is recottnised once the charity entiilement to the income, it 15 Probable that the income will be received and the amouTrt of Éhe income Feceivable can be measured reliably. Dondlions undlegucie5 Donations are recogni5¢d when the chari¢v has been noiified in writing of both the amollnt and settlement date. In the eveni that a donation is subject to Conditions that require a level of perfonnance by the chariry before the Lharity i5 entiil¢d to the funds. th¢ income is deferred and not recognised untsl either those condition5 ale Fully meL or the fulfilment of those conditions is wholly within the control of the chariry and it is probable that rhe5e condition5 will be fulfilled in the ieportillg period. Page 9 International Cardiomi'opath), Network (ICON) Notes to the Finaneial Statemenls for the Year Ended 31 Deeember 2023 Graiits reeeivuble Grant5 are reco￿￿ ised when the charity. ha5 an entitlement to the fiJnds and any condilsons linked to the grants have been mei. Where perfornance conditions are attached to the ant and are yet to be met, the income is recognised &$ a liabilitv and included on ihe balance sheet as deferred income to b¢ released. Deferred bieome DefeTTed income represents amounts received for future periods and is released io incoming resources in ihe period for which, it has been received. Such income is only deferred when-. The donor spccifies that the gr4nt ordonation must only be used in fuiure accounling periods- or The donor has imposed conditions which mum be met before the charity has wiconditional entitlemeni. Inwesimeiii iii¢¢>m¢ Dividends are recognised once the dividend has been declared alld notification has been received of the dividend Expenditure All e¥pendiiure is reco8ni5ed once ihere 15 a legal or construtiive obligation to that expendI￿re, it is probable settlement is required and the atnouni Can be measured reliablK. All costs are allocated to the applicable expenditure heading thai auegate similar ¢osts to thai category. Where cosrs cannot be direcily attributed particular headings ihey have been allocated on a basi5 consi5t¢nt with the use of resources. with cen¢ral staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the a5set'5 use. Other support costs are allocated kned on the spread of staff costs. Raisingfvmds These are eosts incurred in allracting voluntary income, the management of invesm)ents and those incurred in tradin8 activities that raise funds. Chrtrituble ficlivilit Chariiable expenditure comprise5 those costs iticurred by the charity in the deliverv of its activiiies and services for its beneficiaries. It includes both costs that can be allocatcd directly to such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include central functions and have been allocated to activity C05t categorie5 on a basis c(Trnsistent 'ith the use of resources, for example. allocating propcrty costs by floor areas. OT per capit4 stsff costs by the time spent and other costs by their usage. Governance eosts These include the costs Attribuiable to the charity's compliallce with constitutional and 51atuiory requirements. includitig audil strategic management and ttustees meetings and reimbursed expenses. 7axation The charity is considered to pas5 the tests set our in Paragrdph I Schedule 6 of the Finance Aci 2010 and therefore li meets the definititsn of a charitable company for UK corpordiion tax purpos￿. Accordingly, the charity is potentially exernpt froTn t&xaiion in respect of incornc or capital gains received wiihin categories covered by Chapter 3 Part I l of the Corporation Tax A¢t 2010 or Seaion 256 of the Taxation of Chargeable Gains Act 1992: to ihe extent that such incgtne or gains aTe applied exclusively to charitdble purposes. Page 10 International Cardiom)opathN, N, 'etivork IICoN} otes to the Fin2n¢i21 Statements for the Year Lnded 31 Deeember 2023 Trade debtor5 Trade dEb￿rS are amounts duc from foi m¢￿hd￿J]St s¢)Id or ￿1C¢S perfotTned the ordinary ¢oursc of business. Trade debiors are recognised iniliJlly ai the IraDSdclioD price. Thev are subsequentl}. measured ai arnoni5ed Cost using Ihe Lffecii&"e iniLrest mL71h￿. less Pltsllsion for impaimient. A proi"55ion foi Ihe impaim)ent of rradt debivrs is Ls¢ablished ￿'￿ell th¢r¢ I￿ obJeciJ¥e e%'idence that the charity will not be abl¢ to collec( all amounts due accoidlng u) the ori¥iThal terms of the reieiKables_ Cash and tash equivalents Cash Lash equiialents vompTiS¢ cash hand and call dq)osits. a￿a uiher short-ILrm highlv liquid inve.%imenis tknL art riadilv u)n¥'ertiblL io 3 kno1¥￿ amounl of cash and are iubjiC( to an ￿5]gnificant Tisk of ¢bange in value. Trthdt crtditor$ Trade credTriot5 are obliualion5 to poy for ¥oods or sen'icei ihai Ikcn acquired in the ordiJJarv course of business from Suppliers. Accout]ts paNable are cla￿trIed as ¢Utreni liabiliries if Ihe charity doe5 not have ath un¢ondilionJl right: at iht end ol the reporting period. to deftr sellltment ol the ¢rnJitor for ai le&51 twclve months aticr ibc rcporting date. It thcrc li all ullcondiuonal righi io defcr selllemeni foi #t least ttvel￿e months afi¢r Ihe rcp)ning dIE￿, thctr are presented as ntsn-currcni liabhliiies. TrdLle ireditors are [￿o￿nised iniiiallv ai transaclion pric¢ and 5ubes. Ihe tsse of which is resirictid to ih21 arca or PUTWSe. Financial instruments Ckn¥.siJiLQtIUA The iharity only has linancial ass¢ts and liabililes ot a kind that qualify. as basic fIL8￿claI in%trutneDts. B&%ic financsal itJsirumcn15 arc initially recoDJLiscd ai uansaition iajlle and subsequelltl). measured 41 ¢heii seitlettieni i'alue iiith rhe e.XLeptitsn ol'bank loans iihich are 5ubsequenil> tnea5ured al amortised cosi using ihe effeitiN'e inleresL m¢ihod. 3 In¢om¢ from d•llati•Ds legacies Ullreslricled funds cral Toigl rund5 Total for 2023 Total for 21172 Pagell International Cardiomyopathv Nelivork (ICOY) tl'otes to tbe Financial Statemettts for the Year Ended 31 December 2023 4 lacome from charitable attivities LT￿restrIcted lullds General Restricted fund5 Total funds Project Fund Management ?6 45.)86 Total for 2023 ?0 Total for 2022 1 ?0 3116 1?0306 S Ini'estrnent income Llurestricted r￿ndS CeDeral Totsl funds loterest receiTrable and Similar income. InleTest receivable on ba*)k dew)silS In9 Total for Z023 loy Total for 2022 6 Expetlditllre on charitable activiiies Restricted fuuds Total funds Note Project Fund ￿la￿a¥C￿¢￿t Gov¢man¥C £OStb 104.146 (A8 104,146 648 Total for 2023 104.794 IU4 794 Tot#1 for 2022 41.769 Gr&nt funding Total elptnditure PTi)ject Furtd 04.146 104,14 Totthl for 2022 41.176 41,176 In addition to the eipenditurL" analystd dboi'e. there ar¢ also governance costs of £648 120?2 - £5931 which relate direcilv to chjriiable acliviÈies. See note 7 ftsi tutthet dctaLIs. Page 12 lTrtern&tional Cardiomvopathv N'etwork (ICON) Notes to the FiDaTrcial Statements for the Year Ended 31 December 2023 7 Analysis of governaM¢e and 5UPP)rt ¢05ts Goi-ernance costs Restricted fvnd5 Total 2023 Other goverttan¢e costs 66 66 R￿trIcted fuuds Total 2022 Other govemance ro.gts £3 i3 i3 53 8 IDdepvnderti examintr's remuneration 20•3 2022 Fee5 to examiners The e￿mIninGI of Ihe ￿COun1￿ of ihe ¢h&iiy 540 Page 13 Internatiottal Cardiomvopathy .N'eth'ork {ICoN) Notes to the FinancTrJl Statements for the Year Ended 31 December 2023 9 Tayation The ¥h￿ilY is a tegi5rered charitv athl is ther¢for¢ ¢xemy from tsLKaiion. 10 Debtors 2023 2022 Tr2de debtors 11 Cash casb equivalents 2023 2022 Cash ai bank. 19_911 83.10? 12 Credit•rs: #mount$ (Jlltllg due ooe l'ear 2013 20Z2 Trade crastor5 AwruJ15 41.176 i40 ¥? 41.716 13 Funds BalJnLe *t 31 DeCe￿be￿ 202.1 Balance at I J&nu#n' 2023 Incolni￿ rewurtes Resources eTpended Unrestricted funds General 51 135 1%6 Restricted fun 45,586 1104.¥801 19,143 Tfjt￿ fullds 78.588 45.721 I￿.980) 19,329 B2laoce at 31 D¢¢L'trnbL￿r ltt¢omtll¥ 50urrcs RL'SoufL expended 2022 UDrestri¢ied funds Gen¢ral 51 Restritted funds 1?0.3(KJ (41.7691 7X.537 Total fund5 IJ? ).357 41.769 Page 14 InternYdtionaA Cardiomyopathv Nehvork IICoN} 'ote5 to the Financial Statements for the Year F.nded 31 December 2023 14 ADali'5is of oet XS5ets beth.een fund% U*restritted rund$ CeDeral ToiAI fund$ •t 31 Decen]ber 2U23 Current a¥s¥Nt% Current liabilities j8?) i821 Total nei as>ets 19.??9 Unrestricted funds General T￿tal funds al 31 D¢¢fmb¢r 2022 Curreni asseL8 Curr¢ni liabilitit% 120,304 41 716) 120,31H Totsl net ass¢rs 7S,i68 78,588 15 Related partTr' transaction5 th￿illg Ihe ￿'ear ihe chatitN' Maik ih¢ fL)Iloiving i¢lated party tr2Jwuons: Cardiomyopathy U'K (Cardiom}Dpathy LTK (regis(eied charity no. 1164?63) piukided qovernance, adtninisltatike. Mndraising ac¢tsunlancJ supp(>n to ICON durinbi ik for ii'hich it iva5 paid r15.iKJU. Prof. Pcrry Elliott 15 the Prc%idenl of Cardiom}oparh} UK. Both orEani.sarion5 share the goal of advancing Ihi £ar¢ tTeatmenr of people affecied bs. cardiomjopaihy.) Ai the balanie >he¢i daie Ihe amouni due toltrorn to cardi0myo￿thY LK ￿,3) £Nil i?0)2 - £15.OIK>I. Page 15