## WIGHT CARDIAC REHAB CHARITY FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 WIGHT CARDIAC REHAB CHARITY ## FINANCIAL STATEMENTS ## FOR THE PERIOD ENDED 31 MARCH 2025 **----- Start of picture text -----**
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|CONTENTS|PAGE| |---|---| |Report of the Executive Committee|1 - 2| |Statement of Executive Committee’s Responsibilities|3| |Independent Examiner’s Report|4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes to the Financial Statements|7 – 8| |Detailed Revenue Account|9| WIGHT CARDIAC REHAB CHARITY ## REPORT OF THE EXECUTIVE COMMITTEE The Executive Committee submit their report and the financial statements for the period ended 31 March 2025. The Society was registered with the Charities Commission as a Charitable Incorporated Organisation (CIO) on 29 February 2024, and took over the activities of the Isle of Wight Heart Care Club from May 2024. The liability of members is limited by guarantee. An initial donation of all the net funds of the Isle of Wight Heart Care Club, totalling £119,573, were transferred to the charity in April 2024. The Executive Committee serving during the year or at the date of approval of the financial statements are: Trustees Gary Smith - Chairman Sue Young - Secretary Ian Henderson - Treasurer John Beeby Barbara Brown Robin Burnett Roger Crew Karen Eeles Ron Moss Method of appointment Committee members are appointed by election at the annual general meeting. One third of members are required to retire each year, but may stand for re-election. The Executive Committee may also co-opt additional committee members between annual general meetings. The Registered Office 12 Barton Close and Principal Office of East Cowes the Society is: Isle of Wight PO32 6LS ## Principal Activity The principal activity of the Organisation is the provision of exercise classes on the Isle of Wight for post cardiac event rehabilitation. ## Status The Charity is registered with the Charity Commission as a charity, registered number 1207254. ## Results The Charity recorded a excess of income over expenditure of £124,084, comprising an initial donation from the Isle of Wight Heart Care club of £119,573 and an annual surplus on ordinary activities of £4,511. The surplus on ordinary activities was achieved as a result of the generosity of donors and hard work of fundraisers. Without these, an annual deficit would have been recorded. - 1 - WIGHT CARDIAC REHAB CHARITY ## REPORT OF THE EXECUTIVE COMMITTEE (continued) ## Recruitment and Appointment of New Trustees From time to time the Society reviews the skills and abilities of the Trustees to ensure that there is adequate breadth of experience. Should this be lacking or if additional Trustees are required due to retirement, prospective Trustees are invited from the Membership to apply. ## Organisational Structure Day to day running of the Charity’s affairs are conducted by the class administrator, who reports to the Committee. The Trustees meet formally on a bi-monthly basis and at additional times as required on an informal basis to deal with issues requiring their input. ## Major Risks The Committee confirm that all major risks identified have been assessed and systems implemented to manage those risks. ## Achievements, Performance and Financial Review The Trustees main concerns are to achieve the primary purpose of providing rehabilitation classes for people recovering from lifechanging cardiac events. The trustees are pleased to report that due to strong support from members and the wider community, the donation income received and fundraising has resulted in an excess of income over expenditure. In most weeks of the year, at least ten rehab classes are provided. The charity relies upon the use of short term hall hire to provide the rehabilitation classes. The trustees long term aim is to acquire premises for the charity to operate from. ## Reserves The Committee aims to achieve a break even or better position in each financial year, and to accumulate reserves both to cover any annual shortfall, and to be able to achieve the long term objective of acquiring premises. In view of this, the trustees have agreed to transfer £100,000 to a property reserve account, the purpose of which is to provide a fund to ultimately acquire a freehold or leasehold property, and to assist with ancillary expenses of equipping and furnishing that property, for the longer term use of the charity. The trustees aim to add to this reserve as finances allow. On behalf of the Executive Committee Gary Smith ……………………………. Chairman 27 August 2025 - 2 - WIGHT CARDIAC REHAB CHARITY ## STATEMENT OF EXECUTIVE COMMITTEE MEMBERS' RESPONSIBILITIES Charity law requires the Executive Committee to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Society as at the end of that year and of the surplus or deficit of the Society for that year. In preparing those accounts the Executive Committee members are required to: - select suitable accounting policies, and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed; - state whether applicable statements of recommended practice have been followed; and - prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Executive Committee are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Society and which enable them to ensure that the accounts comply with the relevant legislation. 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. - 3 - INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ## WIGHT CARDIAC REHAB CHARITY I report on the accounts of Wight Cardiac Rehab Charity for the period ended 31 March 2025. ## Respective Responsibilities of Trustees and Examiner The Charity's Trustees 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 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## Responsibilities and basis of report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Trustees and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. ## Independent Examiner's Statement I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect: - accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with such records; or - the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. - 4 – WIGHT CARDIAC REHAB CHARITY ## STATEMENT OF FINANCIAL ACTIVITIES ## FOR THE PERIOD ENDED 31 MARCH 2025 |INCOMING RESOURCES
Incoming resources from operating activities in
furtherance of the Charity's objects
Fundraising and donations
Net assets transferred from Isle of Wight Heart
Care Club
Investment income
Total incoming resources

RESOURCES EXPENDED
Charitable expenditure in furtherance of the
Charity's objects
Resources expended on managing and administering the
Charity
Total resources expended
Net incoming resources
Total funds carried forward
£|2025
£
36,771
9,062
119,573
2,950
168,356
43,647
625
44,272
124,084
124,084| |---|---| - 5 - WIGHT CARDIAC REHAB CHARITY ## BALANCE SHEET ## AT 31 MARCH 2025 |CURRENT ASSETS
Cash at bank and in hand
CURRENT LIABILITIES
Creditors: amounts falling due within one year
TOTAL ASSETS LESS CURRENT LIABILITIES
Represented by:
Revenue Reserve
Property Reserve|Notes
10
£
£|2025
£
124,724
640
124,084
24,084
100,000
124,084| |---|---|---| The Company is limited by guarantee and has no shareholders' funds. The Directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under the Charities Act and that members have not required the charity to obtain an audit. The Directors acknowledge their responsibilities for complying with the requirements of the Charities Act 2011 with respect to accounting records and the preparation of accounts. Approved by the Executive Committee as Trustees of the charity Ian Henderson ………………………………. Trustee 27 August 2025 - 6 - WIGHT CARDIAC REHAB CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 ## 1. STATUS OF SOCIETY The Society was registered under the Charites Act on 29 February 2024. ## 2. ACCOUNTING POLICIES ## Accounting basis These financial statements are prepared on an accruals basis, in accordance with the Charities Act 2011 ## Turnover Income, including gift aid claimed, is accounted for as received. ## Fixtures, Fittings and Equipment Sundry equipment purchased is charged as a cost in the year in purchase in full. Assets donated to the Society are not included in the accounts at a value. ## Allocation of Expenses Expenses are allocated to management, and service costs on the basis of the proportion of time or other relevant factors attributable to these activities. ## Monetary Donations Monetary donations to the society are credited to the income and expenditure account on a receipts basis. ## Corporation Tax and VAT The charity has charitable status and is exempt from Corporation Tax on the income it has received. The charity is not registered for VAT. Accordingly no VAT is charged on income, and expenditure in the income and expenditure account includes the relevant VAT. ## 3. INTEREST RECEIVABLE AND SIMILAR INCOME Bank and short-term deposit interest (gross) 2025 £ 2,950 - 7 - ## WIGHT CARDIAC REHAB CHARITY ## NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 (continued) ## 4. PAYMENTS TO MEMBERS, COMMITTEE MEMBERS, OFFICERS, ETC |Fees, remuneration or expenses payable to members of the
Charity who were neither members of the Committee of
Management, nor employees of the Society
Fees, remuneration or expenses payable to members of the
Committee of Management of the Charity who were neither
officers nor employees of the Society
Fees, remuneration or expenses paid to officers of the Charity
who were not employees
5.
CREDITORS
Amounts falling due within one year:
Accruals
6.
RESERVES
General Reserve
Property Reserve
Surplus for the year
124,084
Transfer to designated reserve
(100,000)
100,000
Total at 31 March 2025
£ 24,084
£ 100,000
£|
|2025
£
Nil
Nil
Nil
2025
£ 640
£
Total
124,084
-
124,084| |---|---|---| ## 12. CONTINGENT LIABILITIES There were no contingent liabilities at 31 March 2025. ## 13. CAPITAL COMMITMENTS There were no capital commitments at 31 March 2025. - 8 - WIGHT CARDIAC REHAB CHARITY ## DETAILED REVENUE ACCOUNT ## FOR THE PERIOD ENDED 31 MARCH 2025 |REHAB CLASS CHARGES RECEIVABLE
OTHER INCOME
Fundraising and sundry income
Donations received
Bank and building society interest
TOTAL INCOME
EXPENDITURE – MANAGEMENT EXPENSES
Printing, stationery and postage
Website and email
Registration fees
Bank charges
EXPENDITURE – SERVICE COSTS
Instructors
Hall rent
Administrator
Parking
Equipment expensed
Training costs
Sundries
TOTAL EXPENDITURE
SURPLUS ON ORDINARY ACTIVITIES
Transferred from Isle of Wight Heart Care Club
SURPLUS ON ORDINARY ACTIVITIES
£|2025
£
36,771
4,465
4,597
2,950
48,783
150
71
40
364
625
18,630
9,342
14,100
182
886
225
282
43,647
44,272
4,511
119,573
124,084| |---|---| - 9 -