(Reglstered Charity No. 12037091 (Company No: CE032768) HEART LINK CHILDREN'S CHARrrY Flnancial Statomonts for the year ended 31 March 2025 (Registered Charty No. 12037091 (Company No.. CE0327681 HEART INK CHILDREN. HARITY Index Contsnts Pago Charty Reference and Adminlstrative Det8ils Trust88s Annu81 Report 24 Audtt Report statement of Fin8nci81 Aciivilies Balance Sheet Noles to the Fina￿la1 Statements 9-16 Detsiled In¢ome & Experbjiture Account 17 {Reglstered Charlty No. 12037091 (Company No: CE0327681 EART LINK HILDREN. HARrrY Charit Rofwenco a)d A(Iministrntivo Dotaib for the r onded 31 March 2025 Charlty Reglslratlon Number: 1203709 Companies House Nurn￿r: CE032768 Trustees: Mr G W Smart MBE Ms S Bames Mr8 C Rigby Mrs VA McGurk Mr G J Williams MrWVMatts MsSEW8rd Mrs M Dilks Mtss K A Dllks Mrs D N Berry Mrs J M Burgess MrSGBlay Mrs L Crow50n Charty Head Offlce.. 68 R￿khIl1 Drfve Mounlsoirel Loughborough Leicestershire LE12 7DT Registered Audltors.. Celerr¢a Ltd Certff￿1 Accountants & Registered Auditors First Floor. The Old Chapel 9 Kempson Road Leicester LE2 8AN Bankers: HSBC Bank Loughborough BranGh POBOX 13 41 Market Pla Loughborough Leicestershire LE113EJ Page 1 (Registered Charity No. 12037091 (Company M): CE0327681 HEART LINK CHILDREN'S CHARITY Trust•os Annual Ro rt forth• endod 31 March 2025 The truslees present their annual report and financial statements of the Ch￿ityfOT th8 year ended 31 March 2025. The trustees h8ve adopted the provrsions of the Statement of Recommended Practice ISORP) "Accounting and Reporting by Charities. 2019 IFRS102) in preparing the annual report and financial statements of the charlty. The financlal statements have been prepared In accordance with the accounting poliaes set out In the notes to the accounts and comply wrth th8 charity governing do¢umenl, the Charib'es Act 2011 and Accounting and Reporting by Charriies: Statement of Recommended Practice applicable to charities Fyeparing their accounts in accordance with the Fin8ncial Reporting Stsndafd applicsble in the UK and Republic of Ireland published in October 2019. Trustees of the Charlt The trustees have seNed durlng the year and since the year end are as follows.. Mr G W Smart MBE Mr5 M Dilks Ms S Barnes Miss K A Dilks Mrs C Rigby Mrs D N Berry Mrs V A McGurk Mrs J M Burgess Mr G J Williams MrSGBlay MrWVMatts Mrs L Crowson MsSEWard (resigned 01105125) Ob. clives and Activibes The principal actNity of the charty conlinu8s to be lo provNJe relief fcff children SLffering Irom heart disease and allied condtknons by the provision of facilitie5 Wfth the objeGt of improving their conditrons of lrfe. The strategy for achieving them has been to advertige Heart Link primsrly through its members and obtain donations as a r85uIt. There is therefore signffunt use of volunteers ￿1n the charftyg Income generatlng 8Cthltles. Public Benefit Stal8menl The trustees have considered the g8n8ral guidance on publ￿ b8nefit issued by th8 Charities Commlsslon and has taken due regard of that guidan￿. The trustees Gonsider they are satisfied that charitls activities do provide a wide public benefit. Ad)ievements and Perforrnance Durfng the year, this Charity managed lo obtain a lol of ils income from the previously unincorporated Heart Link {East Midlands Children's Heart ca￿ Asso¢iationl. The Registered ¢harity number wa$ 513946. In th8 opinion of the Irusleas. this was correct decis￿)n to convert irrto this CIO. As result of both ¢harities operating at the same time during the year. The accounts have been prepared as a merger. Thi8 is in 8ccordance ￿t￿ the Charllles SORP (FRS102) eff￿t￿e 1 January 2019 (sedon 27). The Board has continued to Seek all opportunities to obtain donations from every available source. They have malnlalned the contlnued support from several key provKlers of ¢Jonat*)n$ in¢ludlng $ome legacle8 and large anonymous donations which has bolslewd its ￿elveS. There were also some large one off donations during the year which has hel￿d the organisation considerably. Pag8 2 {Registered Charity No. 12037091 Icompany No: CE0327681 HEART LINK CHILDREN'S CHARrrY TrustO0s Annual Ro rt for Iho ondod 31 March 2025 Contlnued Achwemenls and Perfcffmance continueAI As well as the Committee. the organisalion depends on the hard work of many volunteers who have hdped the organisation obtain monies from various fijndraising activities. A large percentage of the income has been allocated to providing accommodation 81 Th8 Voc¢J Hotel for parents of children at the Kensington Building at Leicester Royal Infirmary. The organisat￿n has S￿nt some of their reserves on medica equipment and goods for the chlldren's ward. (Ward 1 and CPICU} The Iruslees have examined the princip￿ areas of the char￿S operations and wnsider the major risk8 which may arise in each of these areas. In the opinion of the trustees. the charity has established r850urcgs and revi8wed systems which, urmjer normal circumstan¢g5, should allow the risks to be klenimed by them to be mifjgated to an acceptab￿ level In Its day4(HJay op8rations. Finanaal Review includin resetves The Gharity also maintaingd its direct charitable Support by funding various large equipment purchases totalliro £49,384 for the year. As a result of the high level of direct charitable expendiknre, the charlty made a net defidt of £79,999. The trustees have examined the charity's requirements for reseNes in light of the risl(s to the organisation. It has estsblished a pdicy whereby the reserves are invested on deposit at the HSBC Bank In a hlgh deposlt account. The present level of reserves are sufficient. The reserves al the end of the financial year were £639,295. These are all unrestrlcled general reserves. Plan3 for future ods The plans for the fLrture is lo continue lo support the parents accommodation and maintain a strong hold on the online donations. tructure vernance mana men The organlsation I￿¥m8 a reglslered chwity on 10 August 1983. It Is govern￿ by the member8 of the C4yJncil who are appointed as prescribed by the bye-laws. Trustees are elected Sn accordance wth the ￿nstitUtion which was adopted in November 1982 and amended on 3 September 2009. Trustees are recruited their Serv￿ to the Charity or their skills in the areas of the d)arity$ princkpal activity. Trus18es serve their terms and are eligible for r￿el￿tIon. Trustees are sought in a variety of ways invofving explorallon of the fiekd of potential candldates, Indudlng recommendatK)n from exigting Iruslees and supporters. Potential twslees a￿ scrutinised by nominatijns and are sublect io intervlew b8fore being proposed as a trustee. I new trustees are required to undertake an inductlon programme and undergo a structured introduction programme. They also undergo a strLthred introduction lo the operations of the charity. Trustees meelings are hdd periodicalty to review and agree major area5 of policy. The responsibiltyfor reviewng key areas of act[￿ty and policy are delegated to mgmbers of the board. Investmenl li¢ The charity has adopted a total retum polw for its investment income. This is achieved by malntalnlng hs primary funds in a money markel bank a￿OUnt yieldlng interest at a higher rate than th8 normal current account. Page 3 {Registered Charity No. 12037091 (Company No: CE0327681 HEART LINK CHILDREN'S CHARITY Trustees Annual Ro rt for the r ¢nded 31 March 2025 Contlnued ststement of TTUStees' res nsibililies The trustees are ￿spOnSible for preparing Ihe Trustee5 Annual Report and the finar￿la1 stal8menls In accordance wlh applicable law and United Kin9Jom Accountlng Stsndards (Unlied KIn￿j0M Generally Accepted Accounllng Pr8clke). Th8 law ap￿ICable to charltles In England & Wales requires the trustees lo prepare the financial statements each year ￿1¢h give a true and fair view of the state of aff8irs of the charty and of the incoming resources and application of resources of the charity for that period. In prepariro these financial statements. the the trustees are requifftd to.. gel8¢t suitable accounting policies and apply them consistently, observe the methods and princlples in the Charities SORP 2019 {FRS102)' make judgements and estimates that are reasonable and pnbjenl., state whether applicable accounllng standards have been followed, to any material departures disclosed and explalned in the flnanclal statements., prepare th8 financial ststements on the going ¢on¢ern basis unless il is inapprowiate to presume that the charNy will Continue in operat￿. The trustees are responsible for keeping accounting records that disclose with reasonable accuracy al any time the financial position of the charity and lo enable thom to ensure that the fInar￿la1 statements comply with the Charities Act 2011. the Charity (Accounts and Reports) regulalions 2008 and the provisions of the trust deed. They are als0 responsible for safeguarding the assets of the charty and her￿e for taking reasonablg slgps for the preventlon and detection of fraud and other Ir￿gu1a1Itie$. The trustees are also responsible for the Maintenance and inlggrity of the charity ar)d financial irrformalKJn included on the charitys wgb511e. Legislatlon Sn the Unlted KSngdom governing the preparatK*n and di55eminalion of financia stslemenls may dlffer from leg181alh)n In 01￿ lurisdictions. ON BEHALF OF THE BOARD Trustee Dated.. < /S116 Mr G W Smart MBE Trustee Name Page 4 {Registewl Charity No. 12037091 (Company No.. CE0327681 Indo ond•nt Auditors Re rt to Iho Tru$t•os of Hoart Llnk Chlldron's Charlt O Inlon We have audlted the financSa glatements of Heart Llnk Chitdren's Charlty for th& year ended 31 March 2025 which comprise th8 Statement of Financial Activities, Balance She8t and notes to the financial statements induding slgnir￿anI accounting policies. The financial reportlng framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards Includlng FRS 102 The Fina￿la1 Reporting Stsnd8rd" applicable in the UK and Republic of Ireland {Uniled Kingdom Gengrally Accepted AGcuinting Practice). In our opinion the financial statements.. glve a true and fair view of the state of Ihe ¢harltys affalrs as at 31 March 2025 8nd of ifs incoming resources and application of resources for the year then erKled,' have IAen properly prepared in accordarth with United Kingdom Generally Accepted Alxountiro Pr8cl￿a.. and have been properly prepared in acC£jrd8r￿ wth requirements of the Charities Act 2011. Basls of o Inlon We conducted our audit in accordarKe wth InternatK)nal Standards on Auditing IUKI IISAS {UKI) and appllcable law. Our resportsibilitles under those standards are further described in the Auditor's re5ponsibililies for the audit of the financial statements section of our report. We are irmlependent of the charity in aCcOrdar￿ with the elhul requirements that are relevant to our audlt of the financlal statements in the UK, including the FRC'S Elhi¢al Standard. and we have fuwllled our eihical responsibilities in accordance with these requirements. We believe that the evidence we have obtained is sufficient and apwopriate to provide a basis for our opinion. Conclu81ons rel*ln to oln concern In audtting the flnanclal slalements, we have o)ncluded Ihal the trustees, uge the going concem basis of accounting in the preparation of the financial slalements 15 appropriat8. Based on the work we have perfomed, we have not identrfied any material unc*rtainlies relating to events or conditions that, individually or collectivety, may cast significant doubt on the charws abiltty lo conunue as a golng concern lor a Ferlod of at least tsvelve months from when Ihe fI￿ar￿la1 statements authorised for issue. Our ￿$￿K)nSib￿lIieS and the respon$lblllties of the Iruslees vAth reSp￿t to goiry concern are described in the relevant sections of this report. Othgr Informatlon The other information comprises th8 information included in the trustees annual report, other than the financial statements and our aLKI1￿3 report thereon. The financial statements and our audito¢s report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financlal ststemenls do not cover the other Informallon and, except to the extent otherwise explicitly stated in our TeFth, we do not eXp￿sS anyfom) of assurance wncluslon thereon. Our respon5ibilty is to read the 0th9r infwmation and, in doing so, cons*Jer whether the other information is materially inconsistent with the financial statements or our kn￿edge obtsined in the course of the audlt or Othe￿8@ appears to be materially mlsstated. If we identify such material Inconslslencles or apparent malerlal mlsstatemenls, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work w8 have rerformed, we condude that there is a material misstatement of thi$ olher Informallon. we are required to report that fact. We have nothing to report in this regard. Mattgrs on whiGh wo aro re Ulr￿ to re excg ion Wg have nothing to report in respect of thg followlng matters in rdalion to which the Chari(ies {Accounts and Reports) Regulations 2008 requlre us lo report lo you rf, In our opinion: Page S (Registered Charity No. 12037091 (Company No: CE032768) Ind• nd•nt Auditors R rt to tho Trusto88 of Hoart Link Childrnn's Chari PAatter8 on whlch we are re ulred to re rt b exce tlon contlnued the infomiation given in the financial statements is inconststent in ary material respect wth the trustees. report.. or the charty has not kept ad&]uale accounting reoords", or the financial statements are not in &areement with the accounting records and retums.. or we have not rectived all thg inforniation and explanalions we rwuire for our audit. Ros nslbllltles of trustees As explaln8d more fully In the trustees. wsponsibililtes stalement. ts twstees are responslble for the preparation of financk91 statements ￿lch give a true and fair view, and for such internal control a$ the trustees delem)ine is necessary to enable the p￿paratIon of the financial statements that a free from material misstatemenL whether due lo fr8ud or error. In pYepaTing the financial statements, the Iruslees are responslble for 88gesslng the charitys abllity to continue as a syjing concem, disclosing as applicable, matters rdated lo going concern and using the going concem basls accounllng unle$s the Iruslees ellher Intend to Ilquklale the charfty or cease Its operallons, or have no realistic alternalNe but to do so. Audltor's res onslbllitle8 We have been appointed as auditors under seGtion 145 of the Charities Act 2011 and report in accordanc8 %Mth regulations made under sectlon 154 of that Act. Our objeclFves are lo obtain reasonable assurance about whether the financial statements as a whole are free from material mlsstslement. ￿ether due lo fraud or error. and to issue an auditorfs report that Includes our opinion. Reasonable assurance is a high level of assurance. but Is not a guarantee that an audit conducted in accordance wlh ISASS (UK) will aknys delect a material misstatement when rt exits. Misstatements (*n arise from fraud or error and ¢on$Klered material rf, indiwdually, or in the aggregate, they could reasonably be expected lo infiuence the economic d￿lsionS of u88rs taken on the basis on Ihese financial statements. Because of the Inherent limhatlons of an audit, the￿ is a risk that we ￿11 not detect all Irregularltles, including thosg leadirvJ to a material misstatsmenl in the financial statements or non-wmpliance ¥with regulatlon. Thls risk In(Teases the more that compllance ￿th a law or regulallon Is removed from th8 events and transactions refiecled in the flnane481 statements. as we will be les8 likety to become aware of instances of non-com ￿lanCe. The risk is also greater regarding irregulariti'es oCCu￿1ng due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion, omisS￿n or misrepresentation. A further descriptK)n of our responsibilit￿￿ for the audit of the financial s18tements is l¢xated on the Financial Rgporting Councll's webslte al www.frc.org.uklauditorsresponsibilities. This desctiplion fomis part of our audIt0￿$ rewrt. Use of our r• This report is made solely to the charity's trustees, as a L￿)dy, in accordance with Part 4 of the Charities IAccounls ané Reports) Regulations 2(M)8. Our audit work has been utKJertaken so that we mi9ht state to the charity's trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not 8¢￿p1 or assume responsibilty to anyon8 other than the charity and the charity's truste85 as a body, for our audlt work, for thSs report. or for the oplnlons we have formed. Celerica Ltd- Slatulory Audrtor Certif￿1 Accountants First Floor. The Old Chapel g Kempson Road Lelce8ter LE2 8AN Dated.. 8 j S 125 Ce19rica Lirniled is digible for appointment as auditor of the charity by virtue of its eligibility f appolntment as audllor of a company under secllon 1212 of the Companies Act 2006. Page 6 {RegSslered Charity No. 12037091 (Company No.. CE0327681 HEART LINK CHILDREN'S CHARITY Balance Sheot as at 31st March 2025 2025 2024 Flxed a880ts Tangible fixed assets 12 Current as88ts Stock Debtors Cash al bank arKI in hand 13 14 1.185 13,671 630,841 645,697 12.793 711,301 724,094 Crodltows: amounts falllng duo wlthln one year Other creditors 15 6.402 4,800 Nat current a880ts 639,295 719.294 Net a880t8 63g,295 719.294 Charlty funds Unre8trlcted: Unreslrlcted weral fund 17 639,295 71g.294 Restricted 17 18 639,296 The finan¢ial statements were approvts￿ and 8Uthorised for issue by the Board on . 6 Trlfvy 2olS Signed on behalf of the board of trustees Trustee Name: Mr G W Smart MBE Thg rv)te5 C￿ pages 9 to 16 fixm part of these a￿Unts Page 8 {Regi8ler8d Charity No. 12037091 (Company No.. CE0327&81 HEART LINK CHILDREN'S CHARtrY Note8 to the flnanclal statements for the ar and￿ 31 March 2025 1. Summary of slgnmcant accountlng polld88 a Gonoral i￿oMiation and basi$ of prfrparatlon Hgart Link Children'¥ Charity 15 ? charitsble incorporated organisation registered in England and Wales. The address of the charitys head office is given on page 1 of these firkgncial ststemenls. The nature of the charws operatsons and principal a¢tiMli9s detailed on the Trustees Annual Report on page 2. The financial Statements of the ¢harty, whi¢h is a pU￿1C ben8fft entlty as deflned by FRS 102, have been prepared in accordance wth the CharitKgs SORP {FFiS 102)'Accounllng and Reportiw by Charities.. Slalemenl of Recommended Practice applicable to ¢harities preparfng their arKourts in accordan￿ th8 Financial Reporting Standard appl￿ble in UK and Republlc of Ireland {FRS 1021 leffecllve 1 January 2019)., Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011 and UK Generally Accepted Accountlng Practlce. The finan¢ial statemenls are p￿pared on a going concern basis under the historical Gost convention. modrfied lo indude certain items at fair value. The flnancial Statements are presented in sterling whith is the functional ¢urren¢y of the ¢harity and ro￿￿led to the nearest £1. The s￿JnIfIcant accounlng policies applied in the preparation of these financial stslements are sel out below. These Folldes have been consistenly applied to all years presented unless otherwse stated. b Funds Unrestricted funds are available for use at the disC￿￿On of the trustees In furtherance of the general objKtiV83 of charty and which have not been designated for other purposes. Designated ￿ndS comprise unrestricted funds that have been 8&t aslde by the trustees for particular purposes. The aim and use of designated Is set out In the notes to the financial statements. Restricted fvnds are funds ￿1¢h are to be used In aCcorda￿e vAth spethc restrictions imposed by donors or whiGh have been raised by ts charity for particular purposes. The Cost of raising and administering such funds are Gharged against the spec￿lC fund. The alm and us8 of eath restricted fund Is set out In the notes to the financial statements. ¢ Incomo recognltlon l incoming resources a￿ included in Ihe SL8temenl of Finan￿al Activities ISOFAI when the ¢harlty is legally entitled to the income after any perfomiance of conditions have been mel, the amount can be measurod relrably arKI it 1$ probable that the income will be received. For donations to be recognised the charty will have been notrfl￿j of the amounts and the setdement date in writing. If there are conditions attached to the donation and this wuiTrs a level of performance before entillemerrt can be obtained then in¢ome is defer￿d until those o)ndibons are fully met or Ihe fumllment of th08e condltions is within the control of the charity and it is probable that they will be fulfilted. Page 9 (Registered Charity No. 12037091 {Company No.. CE0327681 HEART LINK CHILDREN'S CHARrrY Not￿ to the flnan¢lal statements for the r ended 31 March 2025 Continuod 1. Summary of slgnlficant accountlng pollcles (Contlnuod) Income rKognltlon (continu￿) Donated facilities and donated professional se￿IceS are reo)gnised in income at their fair value when their economic benefit is probable, it can be measured reliably and th8 Charity has contr over the Item. Fair value is determined on the basis of the v81ue of the gift lo the charity. A corresponding amount is recognised in expgnditure. No amount of time is included in the finanaal statements for volunteer Ilme In Ilne with SORP FRS (102). Further detail is given in the Trustees Annual Report. Where practicable, gtfts in kind donated fcf distribution to the beneficiaries of the charlty are Includa In stock and donalFons in the flnanclal statements upon receipt. If it is impwticatle to assess the fair value at receipt or rf the costs lo urKlertake suth a valuation outsveigh any benefits, then the fair value Is recognised as a component of donatlons Yl)8n It Is dlslributed and an equivalent amount recognised as charitable expendliure. Glfts in kirvj donated for resdg are included at fair V￿U0, being the expected proceeds from sale less the exFected cost of Ihe sale. Where estimating the fair value is practicable receipt it 1$ rwn15ed In stock and 'lncome from other trading activities" Upon sale. the value of stock is charged againsl"Income from trading activities" and the proceeds are recognised as 'lncome from other Irading a¢tivilies'. Where il is impr8cllcable lo falr value the ftems due to the volume of low value items they are not recogni5ed in the financial statements until sold. Thls income is rwnised ￿thIn 'lncome from other trading actmties" FIx8d assets gwts In klnd are recognised when receivable 8re incjuded at fair value. They a not deferred over the Ime of the asset. For legacies, entitlement 1$ the earlier of the dwrlty beiThJ noiffled of an Impending distribution or the legacy being received. Al this Foinl income is recognised. On occasion. legacies Nvill be notified to the charity however tt is not possible to measure the amount expected to be dlstrbuted. On these occasions, the legacy is Ir8aled as a contingent asset and disdosed. Income from tradlng acllvltles includ8s income eamed from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplyng goods and services in order lo raise fu￿1$ and is recognised when entillemenl has oocurred. Investment income is eamed through holding for inveslment purwses such as shares and property. It includes dividends, interest and rent. Where it is not practicable to Identlfy investment managemgnt costs incurred within a scheme wth reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest I￿orne is recognlsed Ltslng the effectNe Interest method dNidend and rent income is recognised as the charitys right to ￿Ceive payment18 establlshed. Page 10 (Registered Charlty No. 1203709) (Company No.. CE032768) HEART LINK CHILDREN'S CHARrrY Notes to the flnanclal statements for the ar ondod 31 March 2025 Contlnuod 1. Summary of slgnmcant accountlng poll¢les (Contlnued) d Expendlture recognltlon AJI expenditu￿ Is accounted for on an accTU8ls basis and has been ¢lasslfied under headirrfJs that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments lo third parties, it is probable that the setuement ￿11 be required and the amount of the obligatm ¢an be measured rdiatAy. It is ¢ategori$ed und8r the following headings= Cost of raising funds Expendlture on charitable activiti8S Other expendllure represents those items not falling inlo the above categories. Irrecoverable VAT 1$ Charged as an expense against the activty for whlch the expendllure arose. Grants payable to third partles are wilhln the charitable objedives. Where unconditional grants are offered, this is accrued as soon as the recipient is notffj￿ of th8 grant, as this gives rise to a reaSona￿e expe¢tallon that the recipient wll receive the grants. Where grants are conditional relating lo performance then the grant 15 onty accfued when any unfulfilled ¢ondltlons are outside of the control of the ¢harity. Support Gosts allocatlon Support costs are those that assist Ihe work of the charity Ixjl do not diredy represent charitable actfvities and Indude office costs. governance costs and administratfve costs. TW are incur directy in support of expendlture on the objects of the charity. Fundraising costs are Ihose Inr#Jrred In seeklng voluntary contributM$ and do ￿t inclL*Je the costs of dls9eminating Inf(KMat￿n in support of the ¢harltable activities. Th8 analysls of these costs 15 in included in note 7. f Tangibl• fixod assots Tangible fixed assets are staled at cost (or deemed cost) or valuation less accumulated depreCIat￿n and accumulated impairment losses. Costs includes costs directly attrit￿table to making the asset pable of operating as intended. Depredatlon is provKled on tangible r￿e￿ assets. at rates calculated to WTite off the cost. less eslimaled resldual value. of each asset on a systematic basi$ over Il's expected useful lrfe a$ foltokws: Computers and other equipment Caravans Van 33 113 Vo at cost 250kn at cost 25% al cost g Dobtorn and credltors recelvable I payabl• wlthln one year Debtors and creditors wrth no ststed inlwest rale and receivable or payat4e within one year are recoriled at transactlon prlce. Any105se5 arislw from impairment are recognised in expenditure. h Prov161ons Provisions are recognised when the charity has an obligation al the balance sh•el date as a result of a past event. It is probabb that an ouffiow of economlc benefits will be required in setuemenl and the amount can be reliably eslimaled. Page 11 (Registered Charty No. 12037091 (Company No: CE032768) HEART LINK CHILDREN'S CHARITY Notgs to thg flnandal 5tstemenls tor the r ended 31 March 2025 Contlnued 1. Summary of slgnlflcant a¢¢ountlng pollclv IContlnu•d) l Leases Rentals payable or receivable und&r 0￿ratIr￿J leases a￿ charged to th8 SOFA on a slraigm line basis over the perlod of the lease. J Taxatlon No provision has been made for taxation as the charW$ Charitable ststus renders it exempl from UK direca taxatKsn. k Golng concem The financk41 slatements have been prepared on a golng concem bas1$ as the trustees belleve that no materral uncertainties exist. The truste8s have considered the level of funds hdd and the expected level of income ar￿ expenditure for 12 months from aulhorising these finan¢iJ stalemenls. The budget&J income and expenditure is sufficient Wbth the level of reserves for the charity lo b8 able to continue as a going concem. 2. Incomo from donations and lryaGio 2025 2024 Donatlons 178,750 153,345 l of the above income from donations and legacies are of an unrestricted nature in both years. 3. Incomo from charitable activiti08 2025 2024 Income from Caravan donalh)ns 7,730 5,675 All of th8 abové income from charitablè 8CtMties arè of an unrèstricted natur8 in both years. 4. Income from investments 2025 2024 Bank Inlerest r￿e1Ved 23.424 29,938 Al of the above income from investments are of sn unrestricted nalure in both years. & Ex￿ndItUre on raising fund8 2025 2024 Subscription to ralslng funds 562 l of the abovè 8xp8nditurè arè of Sn unrestricted natura in both years. Page 12 (Registered Charity No. 12037091 {Company No.. CE0327681 HEART LINK CHILDREN'S CHARrrY Noto8 to tho financial statèmonts énd8d 31 March 2025 Continu Analysi8 of oxponditure on Gharitabl? aGtivities 2025 2024 Caravan ¢o$ts Provision of medical equipment General goods fof children's ward Depre￿atIOn Miscellaneouy Merchandise Research ¢ontrlbutlon Christmas paty costs Training Parent accommcKlation Support Costs (see tr