REGISTERED CHARITY NUMBER: 1185996 **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **FOR** ## **HEARTBEAT TRUST UK** Gerald Thomas Chartered Accountants 3 New Mill Court Swansea Enterprise Park Swansea SA7 9FG **HEARTBEAT TRUST UK** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ||**Page**| |---|---| |**Reference and Administrative Details**|**1**| |**Report of the Trustees**|**2 to 4**| |**Statement of Trustees Responsibilities**|**5**| |**Independent Examiner’s Report**|**6**| |**Statement of Financial Activities**|**7**| |**Balance Sheet**|**8**| |**Notes to the Financial Statements**|**9 to 15**| **HEARTBEAT TRUST UK** **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2021** **TRUSTEES** H M Gilbert S Tucker Dr R B John Professor K Lloyd P Harris (appointed 1/10/2022) **PRINCIPAL ADDRESS** Chelston House 103 Newton Road Mumbles Swansea SA3 4BN ## **PRINCIPAL ADDRESS** **REGISTERED CHARITY** 1185996 **NUMBER INDEPENDENT EXAMINER** Gerald Thomas Chartered Accountants 3 New Mill Court Swansea Enterprise Park Swansea SA7 9FG Page 1 **HEARTBEAT TRUST UK** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objects of the charity as stated in the charity's constitution are to promote and protect the health of those who suffer an out of hospital cardiac arrest through: - a) Improving the accessibility to defibrillators (existing and new units) throughout the UK; - b) The use of public signposting to the nearest located defibrillator; - c) The use of signposting to organisations who are able to train individuals on how to administer CPR and defibrillation in order to increase the number of trained practitioners. ## **Significant activities** In support of the above objectives, the charity operates "three pillars of activity": Placement; Awareness; Confidence (PAC). 1. Strategic Placement of 24-hour publicly accessible defibrillators through the validation of existing community defibrillators and with regards to areas of public concentrated activity and residence. 2. Greater Awareness of where the nearest 24-hour publicly accessible defibrillators are located through signposting, publicity material and campaigns. 3. Improved Confidence to use a defibrillator, when necessary, through training and promoted awareness of the importance of CPR and defibrillators in saving lives. ## **Public benefit** The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit and have had regard to it when reviewing the aims and objectives of the charity, and in planning its future activities. In particular the trustees consider how planned activities will contribute to the objectives set by the charity. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The focus of activity throughout the year has been local and mainly in Swansea and Neath Port Talbot. That said, we have supplied defibrillators and cabinets throughout the UK and as far north as Edinburgh, Scotland. In total, in excess of 200 defibrillators and cabinets have been distributed. Our primary activity has been the "Swansea Project" where, in partnership with Swansea Council, we aim to make Swansea the first 'defib-friendly' city in the UK, i.e. to make Swansea a model of best practice for others to adopt. As part of this initiative we have, with the support of Swansea Council, set up a retail project whereby every retail hub within the county has a 24-hour publicly accessible defibrillator located. The 'retail hub' is irrespective of size and may just be a couple of outlets on which the local community relies upon for their daily provisions. Page 2 **HEARTBEAT TRUST UK** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities, continued** A similar approach is currently underway for all of Swansea Council car parks. Consideration is also being given to locating defibrillators at other public buildings such as churches. The charity continues to work closely with the local councillors of Neath Port Talbot (NPT) with the aim of placing publicly accessible defibrillators, ward by ward, throughout the county. Already, the whole of the NPT coastline accessible by the public has defibrillators placed not more than 300 metres apart. Placement of defibrillators strategically within the community is only the first pillar of our approach. Moving forward, the charity will focus as much on the remaining two pillars of Awareness and Confidence. This will involve greater signposting of locations and public awareness training in CPR and defibrillation. In fact, with the support of our training partners St John Ambulance Cymru, the charity is about to embark upon a year of training throughout West Glamorgan. ## **FINANCIAL REVIEW** ## **Financial position** This has been the first true year of operating for the charity, as within the previous period, we were very much in ‘start-up’ phase. The charity has raised total funds of £230,247; £50,000 related to a grant from Swansea Council and the majority of the remainder was raised from the sale of defibrillators and cabinets. Costs of providing equipment amounted to £122,337 and other running costs made up the remainder of the total cost figure of £131,205. It was pleasing to generate a net surplus of £99,042 for the year. At the financial year end, the charity held £98,907 of reserves. Cash reserves were satisfactory at £32,172 and £102,545 of stocks of equipment were on hand. ## **Reserves policy** The Board of Trustees have considered it prudent to keep in reserve £50,000 to effectively underwrite possible exposure by the “HBT Care Package” that provides for insurance against theft or vandalism and maintenance costs for certain defibrillators supplied within the City and County of Swansea and NPT. This amount is held in an unrestricted designated fund. At present and due to the charity being in its initial phase, an unrestricted reserves target has not been quantified, although the trustees are conscious of the need to ensure sufficient unrestricted reserves and cash funds are maintained to cover planned running costs and the planned stock holdings. ## **SUMMARY AND CONCLUSION** Despite 2021 being a difficult year for all charities and businesses due to the impact of COVID-19, Heartbeat Trust UK has had a relatively successful year in terms of both financial and operational performance. This has only been possible through the good governance and management of the Board of Trustees and the dedication of our staff and volunteers. On behalf of the Board I would like to thank all those involved for their hard work and contribution. The charity is also grateful for the support of our partners, in particular, St John Ambulance Cymru and the City and County of Swansea. With success comes the opportunity to strengthen the charity through greater resources and improved organisation, which thereby provides the foundation for planned growth and security. The charity can with some confidence look forward to a successful future. Page 3 **HEARTBEAT TRUST UK** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes a Charitable Incorporated Organisation (CIO). ## **Management** The charity is administered and managed by its trustees: Mr. Henry Gilbert (Chair) Mr. Simon Tucker Prof. Keith Lloyd Dr. Bryn John ## **Recruitment and appointment of new trustees** New trustees are elected by existing Trustees and endorsed at the AGM to provide the governing body with the skills necessary to operate the charity and achieve its objectives. There were no new trustees appointed in the year. ## **Induction and training of new trustees** Trustees, staff and volunteers receive training and induction as required. Skills shortages are kept under constant review and recruitment where necessary is targeted accordingly. ## **Risk management** The Trustees have identified and reviewed the risks to which the charity is exposed and have implemented appropriate systems and controls to manage those risks. The principal risks are identified below: |**No.**|**Main risk**|**Response**| |---|---|---| |1.|Specialist financial advice|Appointment of Gerald Thomas Chartered Accountants.| |||Seeking to appoint trustee with financial experience.| |2.|Sufficient funding|Greater fund-raising and tendering activities.| ||Adequate supply of products|Forward forecasting of orders and increased stock holding.| |3.|Success outstripping|Investment in improved sales and financial IT systems.| ||resources|Seeking to recruit additional part-time admin support. Review| |||organisation structure, roles and responsibilities.| ## 29th October 2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by: ## H M Gilbert ................................................................. H M Gilbert - Trustee Page 4 **HEARTBEAT TRUST UK** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2021** The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity 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. Page 5 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEARTBEAT TRUST UK** ## **Independent examiner's report to the trustees of Heartbeat Trust UK** I report to the charity trustees on my examination of the accounts of Heartbeat Trust UK (the Trust) for the year ended 31 December 2021. ## **Responsibilities and basis of report** As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements 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. Rachel Doyle FCCA ACA Gerald Thomas Chartered Accountants 3 New Mill Court Swansea Enterprise Park Swansea SA7 9FG 29th October 2022 Date: ............................................. Page 6 **HEARTBEAT TRUST UK** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2,079
Charitable activities
3
178,168
**Total**
180,247
**EXPENDITURE ON**
Raising funds
4
76,083
**Charitable activities**
Other
5
3,322
Governance costs
1,800
**Total**
81,205
**NET INCOME/(EXPENDITURE)**
99,042
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
As previously reported
5,179
Prior year adjustment
2
(5,314)
**As restated**
(135)
**TOTAL FUNDS CARRIED FORWARD**
98,907|PERIOD
25/10/19
YEAR ENDED
TO
31/12/21
31/12/20
Restricted
Total
Total
fund
funds
funds
as restated
£
£
£
-
2,079
-
50,000
228,168
21,788
50,000
230,247
21,988
50,000
126,083
16,594
-
3,322
5,329
-
1,800
-
50,000
131,205
21,923
-
99,042
(135)
-
5,179
-
-
(5,314)
-
-
(135)
-
-
98,907
(135)| |---|---| The notes form part of these financial statements Page 7 **HEARTBEAT TRUST UK** ## **BALANCE SHEET 31 DECEMBER 2021** ||2021|2021|2020
Total funds
£
-
16,000
-
5,180
21,180
(21,315)
(135)
(135)
(135)
(135)
(135)| |---|---|---|---| ||Total funds
£||| |Notes|||| ||||| |**FIXED ASSETS**|||| |Tangible assets
8|775||| ||||| ||||| |**CURRENT ASSETS**|||| |Stocks
9|102,545||| |Debtors
10|557||| |Cashat bank|32,172||| ||||| ||135,274||| ||||| |**CREDITORS**|||| |Amountsfalling duewithinone year
11|(37,142)||| ||||| |**NET CURRENT ASSETS/(LIABILITIES)**|98,132||| ||||| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**|98,907||| ||||| |**NET ASSETS/(LIABILITIES)**|98,907||| ||||| |**FUNDS**|||| |Unrestrictedfunds
12|98,907||| ||||| |**TOTAL FUNDS**|98,907||| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 29th October 2022 ## H M Gilbert ............................................. H M Gilbert - Trustee The notes form part of these financial statements Page 8 **HEARTBEAT TRUST UK** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **1. STATUTORY INFORMATION** Heartbeat Trust UK is a CIO, registered with the Charity Commission for England and Wales. The registered number is 1185966 and principal address is Chelston House, Newton Road, Mumbles, Swansea, SA3 4BN. The functional and presentation currency of the financial statements is the Pound Sterling (£) and balances are rounded to the nearest £1. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** 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. ## **Going concern** The charity generates surpluses through a mixture of grant funding, primary purpose trading and donations. Surpluses generated both within the year and since the balance sheet date are considered sufficient to ensure that the charity has the necessary reserves to mitigate any significant risk in relation to going concern. Therefore, the trustees have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the trustees continue to adopt the going concern basis in preparing the financial statements. ## **Critical accounting judgements and key sources of estimation uncertainty** In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods. The following are the critical judgements that the trustees have made in the process of applying the charity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. ## Impairment of assets Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Financial Activities. ## Provisions and contingencies Provisions are recognised when the charity has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable. Page 9 continued... **HEARTBEAT TRUST UK** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **2. ACCOUNTING POLICIES - continued** ## **Changes in accounting policies** Financial statements for the previous period to 31 December 2020, which was the charity's first reporting period, were prepared using the receipts and payments basis. The charity has now adopted the accruals basis of accounting for the current and subsequent accounting periods. The comparative amounts have been changed to restate the same using the accrual basis. The impact of this is: - £16,000 of stock in hand (closing stock) has been recognised - £20,714 of trade creditors have been recognised, and - £600 of accruals have been included. The previously reported surplus and net assets for the year of £5,179 has been restated to a net deficit and net liability of £135. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Grants and donations** Grants and donations are recognised when the charity has unconditional entitlement to the resource. In the event that grant income is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised in full until either those conditions are fully met or the fulfilment of those conditions is wholly within the control of the charity. ## **Provision of goods** Income is recognised on the despatch of goods to service users. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Governance costs** Governance costs comprise of all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent examination together with other support costs. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment - 25% on cost ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Taxation** The charity is exempt from tax on its charitable activities. Page 10 continued... **HEARTBEAT TRUST UK** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **2. ACCOUNTING POLICIES - continued** ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated unrestricted funds are set aside for specific purposes at the behest of the trustees, but Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ## **Donated goods, services and facilities** Such amounts are recognised as incoming resources and resources expended when the benefit to the charity can be reasonably quantified or measured and is considered material to the charity. ## **3. Charitable activities** ||||PERIOD| |---|---|---|---| ||||25/10/19| |||YEAR ENDED|TO| |||31/12/21|31/12/20| ||||as restated| |||£|£| ||Provision of equipment|178,168|21,788| ||Grants|50,000|-| |||228,168|21,788| |**4.**|**Raising funds**||| ||||PERIOD| ||||25/10/19| |||YEAR ENDED|TO| |||31/12/21|31/12/20| ||||as restated| |||£|£| ||Opening stock|16,000|-| ||Purchases|201,012|32,494| ||Postage and packaging|1,935|-| ||Defibrillator installations|1,220|-| ||Closing stock|(102,545)|(16,000)| ||Repairs|727|-| ||Wages|6,328|-| ||Telephone|207|-| ||Postage and stationery|287|-| ||Sundries|423|-| ||Subscriptions|489|100| |||126,083|16,594| Page 11 continued... **HEARTBEAT TRUST UK** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **5. CHARITABLE ACTIVITIES COSTS** |Other
Governance costs
**SUPPORT COSTS**
Management
£
Rent
3,150
Bank charges
Computer depreciation
Accountancy and treasurer fees
-
3,150|Support
Direct
costs (see
Costs
note 6)
£
£
-
3,322
-
1,800
-
5,122
Governance
Finance
costs
£
£
-
-
62
110
-
-
1,800
172
1,800|Totals
£
3,322
1,800
5,122
Totals
£
3,150
62
110
1,800
5,122| |---|---|---| ## **6. SUPPORT COSTS** ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the period ended 31 December 2020. ## **Trustees' expenses** One trustee was reimbursed for expenses incurred on behalf of the charity within the year, amounting to £427. No trustees' expenses were paid for the period ended 31 December 2020. ## **8. TANGIBLE FIXED ASSETS** |**TANGIBLE FIXED ASSETS**|| |---|---| ||Computer| ||equipment| ||£| |**COST**|| |Additions|885| |**DEPRECIATION**|| |Charge for year|110| |**NET BOOK VALUE**|| |At 31 December 2021|775| |At 31 December 2020|-| Page 12 continued... **HEARTBEAT TRUST UK** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** |**9.**
**STOCKS**
Stocks
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Debtors
Prepayments
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Creditors
Other creditors
**12.**
**MOVEMENT IN FUNDS**
Net
movement
At 1/1/21
as restated
in funds
£
£
**Unrestricted funds**
General fund
(135)
99,042
Designated fund
-
-
**Restricted funds**
Restricted
-
-
**TOTAL FUNDS**
(135)
99,042|2021
2020
as restated
£
£
102,545
16,000
2021
2020
as restated
£
£
515
-
42
-
557
-
2021
2020
as restated
£
£
35,342
20,715
1,800
600
37,142
21,315
At
Transfers
31/12/21
£
£
(50,000)
48,907
50,000
50,000
-
-
-
98,907| |---|---| Page 13 continued... **HEARTBEAT TRUST UK** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **14. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
180,247
50,000
230,247|Resources
Movement
expended
in funds
£
£
(81,205)
99,042
50,000
-
(131,205)
99,042
Net
movement
At
in funds
31/12/20
£
£
(135)
(135)
(135)
(135)| |---|---|---| Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|21,788|(21,923)|(135)| |**TOTAL FUNDS**|21,788|(21,923)|(135)| Page 14 continued... **HEARTBEAT TRUST UK** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **15. RELATED PARTY DISCLOSURES** During the period, the charity purchased goods and services amounting to £10,701 (2020: £4,730) from Reverb Marketing & Communications Limited, a company controlled by S Tucker, trustee. The trustees have complied with the Charities Act in relation to the purchase of goods and services from a connected entity. This page does not form part of the statutory financial statements Page 15