2021-12-31-accounts

LONDON HEART HOUSE- FOUNDATION FOR CARDIOVASCULAR RESEARCH AND EDUCATION (a Charltable Incorporated Organisatlon) REPORT AND UNAUDITED ACCOUNTS YEAR ENDED 31 DECEMBER 2011 Charity number: 1189331

LONDON HEART HOUSE INDEX Yeay ended 31 Detembgr 2021 Page Report of the TrusteB Independent e￿mInatIOn repDrt StaremeTht of financSal a<¢ivltlos Batance sha*t Note5 tty the finanflal $¢atemernts

LONDON HEART HOUSE REPOR T OF THE TRUSTEES Yer ended J l December 2021 Th& Tru5te¢s pre$ent thetr report and fiwdncPdl $tatemEnts for thÈ perlod ended 310ecember 2021. The fifiancial statemÈnt$ have been prepared in a¢¢ord2nce with the accounting poll¢le$ set out on p3Ees e and 9, with the Accountlng Fiepor¢ing by Charities: Statement of Recommended Prattice 2pplltable to charities preparlttg thdr aecounts Sn attordance wth the Finan¢iÈl Reporrin8 Staiidard applieable In the UK Ènd Republic of Ireland IFKS1021 {effe£tlve I lalluary 20191. The London Heart HcU5e is a ¢h8ritable Incorporated organlsatlon I'CIO") and beean a regpstered charity on 4 May 2020. Structure. goveman¢e and m¥4nwment The name$ of the Tru$tees who served throughout thp year are 5¢ated on page 3. The London Heart House Is governed by a board ol trustees whts meet re¥ulaYly f￿e-tO-face to d15CUSS the Foundarlon's 5tr4tey, Including provis%on of activitles, risk man2gemenL policle5 and perforM2nce. The board Currently consists of five trustee$ li5t¢d on page 3. New members of rhls board will be selectsd and appolnted by exi$tin8 trUStee5. New trusttss am provld¢d with guldance as to thelr responsibilities from existing ¢rusteÈs. The London Heart House Is 8ov¢rned by a Constitution dated 4 May 2020. Appllea¢lon ol ificomÈ ol the charity Is Ilmited to the promotion ol Its objects. Decislon3 are madÈ by simple malodty of Yotes cast at a meerlng of the Trustees. or by resolution ID wrlting or eleetronlc fgrrn agreed by t mats)rity of all thè Tru$tee Obje¢ts 4nd actlvltie$ for the publ1< ben611t The London Heari House Is a foundail¢n vthich aims to support research from bench to bed5idÈ and to help dlssernlnate current knowledge in the ¢ardiov15cular field to health ¢are profe5510n￿$ arbd th soclety 25 a whole through basic and clinl¢al resoar¢h. medi¢al treatment, teachlng and èducation. The Foundation's mlln obleci Is to advance such charltable purposes laccordittg th the18W c)f England and WalÈs) as the Charity Trustees See flt from tlme ¢0 tlme In pathtular, but no¢ Ilmlted to, the advancement ¢f educ3tton and the adyancoment of ￿lence through rÈ5eareh in cardiovascular dtsÉ2ses and the provision of tr4lnlng and educationd courses In cardlovascular di$ea$es for the pvblic benefiL The policy ol th¢ charlty Is to contlnye to apply the Unresti'lc¢ed Fund5 for general charitrdble purposes In (urtherante of tho maln oblective. At pre5¢Dt thp FoundatioN is in tts early Stages 2nd so has yet to commenc0 Its a¢riyitlE$ In full. Fund$ wer¥ received durlng the yeir lor evEnt$ In 2012 and 35 such havè been restrictBd. The Trustees, havlng regird to the Public Benefit Guldanc6 pub%$hed by thp Charity Commission in accordance with sectlon 17 of The Charicles Act 2011. ci)Dslder that the purpose and 8CtiVltSes ol The London Heart House sat15fy the requlrements of rhe pybllc benefit test Set our In sec¢50tt 4 of the same A¢t, Achievements and performan¢• The wtal amount of expen$¥ Incurred lor the adv3ncemet of the objÈctlve5 in th1$ flnanclal per10d was £1.687 {202Q - £2401. The FouDdatlon currently has no ovèrheads 8nd therefore hi$ no need ¢0 maln¢aln reseY¥e& at a partltular Iwel. The Foundatlorb r¢c•lved donatlons of £44,121 I2020- £5,1X￿) durin¥thÈ year. Future developmffits The London Heart House wlll expindlts 2Ctlvltles in Bducitlon and re5earch- in research, proletis are P￿Trned wlth Dr. Faler Alm¢o54, a fallow supported by her governmernt thit translerred money tts support her prolett on echo findlng5 bEfor8 and alter TAVI. a registry developed at the Royal Bromp¢On HO￿1. Furthermore, In educatlon. the Loiidon Heart Hous¢ pl￿5 tOKethEr wlth King's College t"Postgrfjduate Course In PercutGneous Cordiac Inlepvenilons" urrontly. the cottt2Pt Is develtsped and discussed wlth Ihe col¢aboratfve partners. As a next step unrestrlcted educatlonal grant$ 2re search for from rese2rch-orieDted Indu5tYles.

LONDON HEART HOUSE endod 31 December 2021 Flnally. a $Ècond edltion ol the congrèss on"Artficlol IngelligenTr In cardlov￿UlGr Dlsease" is ￿anned In 2023. Rlsk mahagemfjnt Th¢ Trusteos have assessed the major r15ks to which the Founda¢ioTr Is exposed, In pardcu13r those related to the op&rntlon$ and finances ol the Foundation, ar¢ sitlsfted that system5 3re in plate to manage the exposure to the major risks. Ref¥rettce and admini5trntive detalls Tru$te¢ Professor T F Lusch¢r Prtsfe%sor l Deanfteld W Schaer Drl Holzmelster Dr tl V AmsEEin Lipton Ch￿r Re8fStÈred and prln¢lpal officè Charlesworth House 48 Stanhope Gard￿5 Lond¢n SW75RD Charlty number Independent Examkner G P sm￿-R￿m$bY ACA CTA Lxxon Wil%)n 22 Chanteyy &ne Lorsdon WC2A ILS B￿k￿r$ C Hoare & Co 37 Fle8t Str¢¢¢ Lond¢n EC4P 4DQ

LONDON HEART HOUSE Year ehded 31 December 2021 Trustees. responslbllltles In Yelatlon to the financlal statements The ch?rkty TrustÈes are re5ponslble lor preparing a tru5tee$' annual report and financial 5tatemÈnts In accordance wlth appllcable liw and United Kingdom ACCO￿ntIng standards. The law applicable to charitie5 in England and Wale$ raqvires the charlty Trustees to prepare finical statèments for eath year whlch glve a true and fair view of the state of the affairs of thÈ chai'lty and of the inc¢mlng resouyces and applicatiort of re50ur¢es, of the charity for that perlod. In preparlng the financial ststements. the rru$tees are re9ulred to.. 5ele¢¢ sultable accountlng polic¥e$ and then apply them consi5tently,' ob$erve the rnethods and prlnciples in the appllcable Charitles SORP., make judgements and estimate5 that are reasonable and pruder5t'. state whether applicable accounting standards have been followed, sublett to any material departure$ that must be d15cl¢sÈd and explained Sn the fin3n¢i#l Statements.. and prepare ¢h¢ finattclal stat$m8nt$ on the golng concern basis unless it is Inappropriate to presume that th¢ charity wlll continue In buslne$5. The Trustee5 )re re5pon5ible for Iieeping proper accountlng recorés that dl$¢lose with reasonable accuraq at any time the finantial p05itlon of the charlty and ¢0 enable th¢m to eTr5ure that the financlal statements comply with the charl￿¢S Act 2011. the applicable Charltie5 IAc£ounts and Rtptsrtsl Regulations, and the provlsion5 of the TrL¢St deed. They are also responsible for 5aleguardlng the a5$ets of the ¢harity and taklng reasonable steps for the prevention and detect¢on ofiraud and other irre8ularitle$, De¢laratloh The TNsrees dedare that they have approved the truS￿e5. report above. the board /Jg2c4ia• Prol 5sor T F Luscher 19 O¢tober 2022

E X A M I N E R ’ S U N Q U A L I F I E D R E P O R T

LONDON HEART HOUSE

Year ended 31 December 2021

Independent Examiner’s Report to The Trustees of the London Heart House

I report to the Trustees on my examination of the accounts of the CIO for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity Trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that an audit is not required for this year under charity law and that an independent examination is needed.

I report in respect of my examination of the 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. Dixon Wilson, a firm of Chartered Accountants of which I am an employee, has provided bookkeeping services to the CIO and I have applied the FRC’s Revised Ethical Standard in carrying out my examination.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters than an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

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 CIO 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; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no 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.

GREGORY SMYE-RUMSBY ACA CTA Dixon Wilson 22 Chancery Lane London WC2A 1LS

2022 25 October

5

LONDON HEART HOUSE ST A TEMENT OF FINANCIAL ACTIVITIES Ye•r ended 31 December 2021 Yeay ended Perlod ended 31 December December 2011 1020 Total Total Fund$ Funds Vnrestrfcted Restrlcted Fund Fund Note Income endowments Irom: Donatlons and IBpcle$ Total In¢omlng re50urceg 44,121 44,121 5.000 44,121 5.000 Expehdlture on: Charitable act￿￿1@S 1,687 1,687 240 Total oxpenditure 1,687 1,687 240 Net (expendSture)Iln<ome Net movèment In funds 11,687) 11,687) 44,121 42.434 4,760 44.121 42.434 4,760 Re¢oM11174tlon of funds: Fund balance bttwgh¢ (grward at I january 2021 Fund balance tarrled forward at 31 December 2021 4.760 4,760 3,073 44,121 47,194 4,760 The Ststement ol Flnancial Actfvltle$ Includes all gains ￿￿105$e$ for the year, All Income expen(Iture derive from CQDtlnulng actlvltle5.

LONDON HEART HOUSE Chavlty numbor: 1189331 ALANCE SHEET A• 4t 31 D•cgmb•r 2011 Nots 2011 2020 Current omots Cath at bank 48,094 5.000 s,000 1240) 4.760 48,094 (9001 47,194 CredltoNI Wnt)unts hllln8 due wlthln om¢ y•ar Nrt tur*•iit uiÈti Total ￿•ts l•ii ¢wv•nt Ilabllltl•s 47,194 4,700 Total fundi olth? <hvlty: Unréstrlcted Income fvndi R•strlct•d funds 3.073 44.121 4,760 Tot•1 47.194 4.760 Thè accounts on pages 6 fa IQ were ¥yov•d by th• board of trutt•M on AY,O&4. 2022 afid were $18ned on 1¢$ haw by. 5$0rT L Lu5th¢r Trusree W 5¢hier Trus¢¢e

LONDON HEART HQUSE NOTES TO TH E FI NANCIAL ST A TEM ENTS Year ended 3 l Detember 2021 Accountln8 politles Tho printlpal accounrlng pollcles adopttd, ludgement and key source5 of estlmatioD uncertsiThty In the preparatlon of thÈ flnanclal statem¢nts are a$ f¢llow& (4) Basi5 of pywaratlon Ind assessment of goin8 ¢oncern The fin8nd￿ statements hèye betn prepared in accor(knce with Ac¢owdng and ReportlThg by Chari¢le8-. StatEment of Kecommeftded Practice spplic&ble to ¢baritie5 preparing th￿r accounts In a¢¢ordance with the Fln2ncial Reporun8 Stxndard appllcable in the UK and Republlc ol Ireland IFRS 102) leff¢ttSve I january 2019} - {Charitles SORP {FRS 10211, the Flnancial Repor￿￿8 Sthndard appllcable in the UK and Republic ol IrelHnd (FR5 1021 and the charl￿08 Act Lgndon Hearr House meets the definltlon of a publtc benefit enilty under FRS 102. As$ets and Ilabllltles are In1￿￿llY recognlsed at hlsTorlc31 co$¢ or tr3nsactlon value unlÈ$s oiheYw15e stated In thÈ relevant acc¢untlng yllcy note. The Trustees consider that therè ère nts material uTh¢ertaintles about Foufidation's abillry to continut )$ a EOin8 cone¢rn lor rho next 12 mDnth5 and foreseeable lutvre. Th8 Foundation onty m&kes grants a¥￿lIble to knstituthrjns in line with its objéctivès, once fundingfor that grant been recehed. (b) Fund a¢¢ounting poli¢y Unrestricred fund5 are general funds that are avallabta for use at thè Trusteeg diicreti¢M In furtherance of the oblecuvg¥ Df the ch?riw. èstrlcred lund5 are those that have bean don4ted for a specific purpose. During the year the Frwrtdatl¢n recolved funds lyom Asrra Zener4 for the Postgraduate Course In Heart Failure L¢ndon. (c) Ih¢omlnE resoiirtes All Incorne Is retognlsad in the statement of finan£lal ac¢lvitles when thè Lond¥n Heart Houié has entidement tts the ncome, It is probable thatthe intome will b• rtsceiyed and the amount olthe Inctrm can be measurad rellably. DorAttons aw rero8nl>ed when the FouDthtlon ha5 been notifled In wrldng of both the atnount and settlement dare. In the ev¢nt thal a donation ￿ 5ubjett w conditlon5 that require a levd ol performance befort the ¢h¥rity Is entitled ro the fund5, thE income is d2ferred Ind not recognised untll either those condltions art lulty Mei or the fulfllment of th￿e conditlons 15 wholly wlthln thè Control of Che tharlty and it t5 probable that tho$¢ condltlons be fulfilled in the repOrtir￿ peripd. (d) Resourcos èxpendEd Liabllltle$ are re¢o8nlsed as so¢n 05 therè 1$ 2 legal or Construct￿t gbligatlon commlttlng th¢ charity to the •xpenditure, It 55 probable that settlementwlll be required afid the amotsnt of the obligation can be measured rellably. All expendituré h atcounted for On an ￿(r￿al$ basis aFtd has been clas5ifitd under headlngs that aggregate 411 costs rdated to the catègory. for lurthpr infurmitlon on the allocauon and apportlonment ol governantr and support Costs acr055 these cawrie5 refer to note 3 bek>w. (e) Ftnanclal in$trum8nts FSrand21 Instrument5 ?fE recognlsed in th¢ Foundatlon's Balan￿ Sheot when the F0utkd3￿0n I1￿0M8$ ￿rtY to thÈ Contr3ctu￿ provlsltsn5 of the InsirumernL Flttancial assets and Ilabllltles Ère offsPt, wlth the ner smounts presentsd In the flnAritlal statements, when there Is a1egally enforce2￿8 rtght w sei off the recOg￿l$ed amounts aThd there is an IDtentlon to scttle on a net basis or tts realls¢ the 285et 2nd settle the liablllty 51mukaneou$ly. Bslc financlal assrti slc finJnclal asset5, which Intlude receivable5 and Cash at bank, are Initially me85ured at tran3aCtlon pricè including tran5a£tion costs and are $ubsequentty carried 8t amortised cost uslng the effefrlve Interest merhod ufiless thè arrangement const5tutss a finanEln8 transacfjon, whEre the transaction 1$ measured at present ￿l￿e of thè Fuwre receipu dS$counted Lt a market rate ol InLere5t.

LONDON HEART HOUSE N OTEI TO TH E FI NANCIAL ST A TEM ENTS Year ended 31 Decembev 1021 Accoundng policies (tontlnued) (e) Flnahclal instnm)ents (eontlnued} B&5it financial Ilabilltles Bas5¢ flnan£ial Ilabllides, Induding payabks, are inirolty ￿0g￿l￿ed at transactlort pritÈ unless the arrangetnent constltm$ a flnanclng ¢r4n8actlon, wher¢ the debt instrument Is measured at the presentvalue of the futur& payments di5¢0unted ata market rat4 OF Interest. Doaatlons and ￿8￿claS 2021 2020 Donatlon$ 44,121 5,000 44,121 5.000 DoThatlon5 of £44,121 were r8sttlcted donations12020- £nil}- All other donations relate to ¢hè ￿reSt￿￿￿ fund. Ch4rltable actlvltks support costs Accountancy fees Fees payable to the Independent Examlner Banli charges 780 900 24Q 1.687 240 All support tosts werè atrrlbutable to unre9trlcted funds. Cash at bank C Hoare & Co curren¢ aecount 48,094 s.000 48,094 5,000 Credltor$: an)ounts falling due wlthin ont year A¢cruaEs 900 240 9( 240 Trustees, r¢muneratlon and r4lated party tran5attions No TrustÈes receNed remuner3tlon or reimbursement of expeA5èS durlng the p¢r5od. The FouDda¢ion has no staff.

LONDON HEART HOUSE NOTES TO THE FI NANCIAL ST A TEM ENTS Yw ended 31 Decembov 2021 TaxattOII Thé London HoarL HoL￿e 1$ a regIs￿red ¢harlty and as $uch is e%empt from tax on Its income Ets the extent th151$ Ipplled lor charlt2ble purposes. Anaty515 of funds At l January 2021 Incomlng ResDuvces 3 l December re50urce5 ¢xpeTrdÉd 2021 Analys1$ of fund mo¥ements Unrestricted f￿Thd Re5tri¢ted fund 4.760 11.6871 3,073 44,121 44.121 Re%tr1cted fund 4.760 44,121 11,667) 47,194 The above fund$ are explwned further in th? accounting polley P8ge & Anal￿19 of fund5 betwoen net assets Net ¢urrent Tot Unrestrlcted fund Restrlcted fund 3,073 44,121 3.073 Total funds 47,194 47,194