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2023-12-31-accounts

Charity registration number 280183

Company registration number 0865313 (England and Wales)

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs S Baxter Ms J Ashton Mr N Stain-Montalvo Mrs H Herbert Mr D R Sleeman Mr C Cox Mr V Felix Morgado Mr G McClean (Appointed 5 July 2023) Ms S Ramsay (Appointed 5 July 2023) Mr J Malcolmson (Appointed 5 July 2023) Secretary Mrs S Baxter Charity number 280183 Company number 0865313 Registered office Claremont House 1 Market Square Bicester Oxfordshire OX26 6AA Independent examiner Whitley Stimpson Limited Claremont House 1 Market Square Bicester Oxon OX26 6AA

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 13

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The objective of the Society is to advance the science and practice of technical cardiology and allied subjects by the promotion of improved standards of education and training.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

2023 was a successful year in terms of being able to provide healthcare professionals with access to high quality training courses and examinations. This included the Cardiac Cath Lab course and examination which was undertaken as a pilot with a view to adding it to the existing portfolio of courses permanently. The work behind such ventures is huge, from those that develop curriculum and deliver the teaching, as well as those who support behind the scenes, write exam questions, provide marking expertise and so many more necessary tasks. SCST is extremely grateful to all involved, especially as the majority of this is undertaken in their own personal time.

Members of Council have met virtually nearly every month in order to carry out the work of SCST, including the planning of future work streams. SCST has continued to develop its strong links with other bodies by attending meetings with the National School for Healthcare Science (NSHCS) and Academy of Healthcare Science (AHCS), as well as the BCS Cardiac Physiology Group. We continue to work with specialist interest groups such as British Society of Echocardiography (BSE), British Heart Rhythm Society (BHRS) and British Heart Valve Society (BHVS).

‘The Equivalence Sessions’ have continued to be held every month on a rolling programme as a way of supporting members to gain recognition as Clinical Scientists in Cardiology. Feedback continues to be extremely positive.

The 2023 National Update meeting was hosted in both face to face and on a virtual platform, resulting in a high attendance across the hybrid platform. The meeting saw delegates gain insight into ‘hot topics’ presented by a host of high-profile colleagues. It was also supported by colleagues from industry who had exhibition stands at the meeting.

SCST has been looking at the way it operates and areas for modernisation. To that end we have been transforming the rules and regulations within which we operate, and These changes were successfully approved at an extraordinary general meeting in 2023.

For many years, EBS has provided administrative support to the Society, however this ended in November, which saw their final invoice. The website was further developed by Seadog IT, but the ambition of providing online membership never materialised. Administrative support was supplied by AHCS however towards the end of the year some services moved to a new service provider ‘Tangled Web’, that will handle the accounts, website development, online membership administration and other administrative support.

The SCST branches in both Scotland and Northern Ireland have struggled to maintain their momentum over the last few years, with neither having active officers. It has been proposed that the Northern Irish branch is dissolved but that a Northern Irish group is set up, with the active support of SCST Council. Any residual funds would be transferred to the main SCST account but would be ring fenced to benefit the SCST Northern Irish Group members. Discussions with regard to the Scottish branch are yet to take place.

Going forward, we encourage all members to seek ways in which they can play an active role within their professional body. No matter how small the contribution, every single one of us is important and is what keeps the Society alive, vibrant and relevant for its members. Together we will continue to be the voice of cardiac science and make a real difference.

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Financial review

The financial stability of SCST has continued to improve in 2023 following a strong performance overall. This is due largely to the move toward 'virtual' meetings, examinations and courses. The Foundation and Diploma courses performed particularly well. The transfer of administrative support from EBS to AHCS on a fixed price contract has resulted in significant savings, alongside the cost benefits of moving examinations to a third-party provider. Outsourcing the administration of the National Update meeting incurred additional costs but was agreed by Council to be advantageous to members.

Net movement in funds showed a surplus of £ 26,232 for the year (2022; £55,530), with cash reserves growing to £318,610 (2022; £286,695).

It was our ambition to write-off all the old uncollected debtors, which has been achieved this year. The two remaining debtors are both for exhibition stands at the National Update Meeting.

No cash movements have been recorded in the accounts in respect of The Scottish and Northern Irish Branches.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between 12 and 18 months’ normal expenditure. The trustees consider that the current funds held are appropriate.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Education Committee Report

The Education Committee continues to supervise the design and administer the delivery of courses and examinations delivered by the organisation ensuring that the products delivered are fit for purpose and of sufficient quality to meet the needs of the healthcare professional that seek them out. The Education Committee currently has a membership of 11 individuals with a broad range of clinical and educational expertise.

In 2023 the organisation continued its hybrid approach to course delivery offering a mixture of virtual and onsite courses. Whilst the virtual courses have been incredibly popular allowing with candidates from around the United Kingdom and further, there remains a keen interest in onsite delivery from many candidates. Delivery of the organisation’s examinations through the third-party provider Pearson Vue are now firmly established and this has allowed candidates nationally and internationally to attend examinations in their local area eliminating the need for long journeys prior to examinations.

Work was underway this year to re-establish a practical award in performing 12 Lead Electrocardiography. The practical award suffered a sudden decline following the outbreak of the COVID-19 pandemic given the required on-site nature of the examination. This remains an area of high interest from the workforce with the organisation receiving a lot of requests to revive the award as a measure of Quality for those performing this vital test. The first sitting of the new award took place in Spring 2024 with further awards expected and a planned expansion to a wider field of test centres.

Plans for future periods

SCST continues to strive to improve patient care by improving training and quality assurance resources. Courses are now able to be held on both a virtual platform and face to face, which has increased accessibility. Examinations are now held at Pearson Vue centres which means more local access for colleagues.

The Cath Lab course and associated examination will expand the portfolio of resource available. Plans are to increase the number of places available on courses, and provide subsidised places for SCST members. Exams will be expanding in order to make them accessible worldwide.

SCST continues to be the voice of all those working within the field of cardiac science in order to gain professional recognition at a national level. The society can only do this with the support of its members and therefore urges them to actively contribute to the work of the Society whenever they are able.

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Structure, governance and management

The charity is a company limited by guarantee and registered as a charity under the Charities Act 2011. The charitable company is governed by its Memorandum and Articles of Association. The charity was incorporated as a company on 30 November 1965 and registered by the Charities Commission on 4 September 1980.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs S Baxter Ms J Ashton Mr N Stain-Montalvo Mrs H Herbert Mr D R Sleeman Mr M Squirrell (Resigned 9 January 2024) Mr C Cox Mr V Felix Morgado Mr G McClean (Appointed 5 July 2023) Ms S Ramsay (Appointed 5 July 2023) Mr J Malcolmson (Appointed 5 July 2023)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

..............................

Ms J Ashton Trustee Dated: .........................2024-09-27

.............................. Mrs H Herbert Trustee 2024-09-27 Dated:.........................

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD

I report to the trustees on my examination of the financial statements of The Society for Cardiac Science and Technology Ltd (the charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Mr J Walton FCA Whitley Stimpson Limited Claremont House 1 Market Square Bicester Oxon OX26 6AA

Dated: .........................27/09/24

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income and endowments from:
Charitable activities 3 166,214 128,450
Investments 4 3,712 605
Other income 5 211 -
Total income 170,137 129,055
Expenditure on:
Charitable activities 6 141,492 71,107
Other material expenditure 9 1,786 2,157
Other expenditure 10 627 444
Total expenditure 143,905 73,708
Net income and movement in funds 26,232 55,347
Reconciliation of funds:
Fund balances at 1 January 2023 290,766 235,419
Fund balances at 31 December 2023 316,998 290,766

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the charity
Unrestricted funds
2023
£
-
8,000
318,610
326,610
(9,612)
£
-
316,998
316,998
316,998
316,998
316,998
2022
£
5,282
27,001
286,695
318,978
(28,844)
£
632
290,134
290,766
290,766
290,766
290,766

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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2024-09-27
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The financial statements were approved by the trustees on .........................

.............................. .............................. Ms J Ashton Mrs H Herbert Trustee Trustee

Company registration number 0865313 (England and Wales)

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

The Society for Cardiac Science and Technology Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Claremont House, 1 Market Square, Bicester, Oxfordshire, OX26 6AA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees' continue to adopt the going concern basis of accounting in preparing the accounts.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably and it is probable that income will be received.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenses are included in the financial statements as they are incurred. Expenses include VAT where applicable as the charity cannot reclaim it.

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment

33.33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Branches

Where the branches of the society also hold funds, the accounting transactions of those branches are included in the accounts.

1.10 Taxation status

The company is a Charity within the provision of the Income and Corporation Taxes Act 1988 and hence no Corporation Tax is payable.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 that 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Advertising and badge sales 10 -
Subscriptions, ECG manual sales, meetings, examination and course fees 166,204 128,450
166,214 128,450

4 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 3,712 605
Other income
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Other income 211 -

5 Other income

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 Charitable activities

Badge and ECG manual costs
Examination expenses
Council meeting expenses
Telephone
Clerical assistance
Printing and stationery
Postage
Accountancy
HoD meeting expenses
Advertising
Professional fees
Bookkeeping
Computer costs
Other meeting costs
Membership and administration expenses
2023
£
5,283
47,415
1,213
-
11,964
3,623
1,350
3,400
18,859
-
6,840
135
4,577
18,782
18,051
141,492
2022
£
2
35,249
673
174
1,722
377
1
3,092
-
1,146
8,070
-
4,521
10,148
5,932
71,107

Charitable activities includes £3,400 (2022: £3,092) of accountancy costs for independent examination fees.

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year.

Nine trustees were reimbursed a total of £7,602 for expenses during the year (2022: £948). These costs covered £2,701 travel expenses (2022: £329), £1,901 accommodation and subsistence expenses (2022: £514), and £3,000 reimbursement for out of pocket expenses (2022: £105).

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

9 Other material expenditure

Material other expenditure includes rent and bank charges.

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

10 Depreciation

Unrestricted
funds
2023
Depreciation
627
627
Total
2022
£
444
444

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Fixtures,
fittings &
equipment
£
Cost
At 1 January 2023 16,799
Disposals (15,468)
At 31 December 2023 1,331
Depreciation and impairment
At 1 January 2023 16,167
Depreciation charged in the year 627
Eliminated in respect of disposals (15,463)
At 31 December 2023 1,331
Carrying amount
At 31 December 2022 632
13 Stocks
2023 2022
£ £
Finished goods and goods for resale - 5,282

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

14
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Notes
Deferred income
16
Trade creditors
Accruals
16
Deferred income
Arising from examination/course fees
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 January 2023
Released from previous periods
Deferred income at 31 December 2023
2023
£
2,000
6,000
8,000
2023
£
-
6,312
3,300
9,612
2023
£
-
2023
£
-
4,710
(4,710)
-
2022
£
27,001
-
27,001
2022
£
4,710
20,934
3,200
28,844
2022
£
4,710
2022
£
4,710
6,310
(1,600)
4,710

The deferred income balance as at the year end represents income received in advance for events such as courses and examinations which have not taken place in the current period.

THE SOCIETY FOR CARDIAC SCIENCE AND TECHNOLOGY LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds
January
2023
Incoming
resources
Resources
expended
At 31
December
2023
£
£
£
£
290,766
170,137
(143,905)
316,998
January
2022
Incoming
resources
Resources
expended
At 31
December
2022
£
£
£
£
235,419
129,055
(73,708)
290,766

18 Related party transactions

There were no related party transactions during the year (2022 - none).