(Registered Charty No. 513946) HEART LINK (EAST MIDLANDS CHILDREN'S HEART CARE ASSOCIATION) Flnanclal Statements for th• year ended 31 March 2024 (Regislered Charity no: 513946) HEART LINK (EAST MIDLANDS CHILDREN'S HEART CARE ASSOCIATION) Index Contents Page Charity Reference and Administrative Details Trustees Annual Report 24 Audit Report 5-6 Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9-15 Detali ed Income & Expenditure Account 16 {Regist&red Charty no. 513946) HEART LINK (EAST MIDLANDS CHILDREN'S HEART CARE ASSOCIATION) Charf Refer•nc• and Admlnlstrative Details for tho oar endad 31 Mar¢h 2024 Charity Registration Number.. 513946 Trustees: MrGW Sm8rt MBE Ms S Barnes Mrs C Rigby Mrs V A McGurk Mr G J Willlams MrWVMatts MsSEWard Mrs M Dilks Mlss K A Dllks Mr R French Mrs D N Berry Mrs J M Burgess MrSGBlay Mrs L Crowson Charity Head Office: 68 Rockhill Drive Mountsorrel Loughborough Leicestershire LE12 7DT Registered Auditors: Celerica Ltd Certttled Accountants & Registered Auditors First Floor, The Old Chapel 9 Kempson Road Leicester LE2 8AN Bankers: HSBC Bank plc Loughborough Branch PO Box 13 41 Market Place Loughborough Leicestershire LE113EJ Page 1 (Registered Charty no. 513946) HEART LINK (EAST MIDLANDS CHILDREN'S HEART CARE ASSOCIATION) Tru8teè8 Annual Re ort for the ended 3q March 2024 The trustees present their report and audited financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Pradice (SORP) "Accounting and Reporting by Charities" 2019 (FRS102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance the accountlng pollcFes set out In the notes to the accounts and comply with the charity goveming document, the Charities Act 2011 and Accounting and Reportlng by Charitie3: Statement of Recommended Practice appllcable to charities preparlng their accounts In accordan￿ wSth the Flnancial Reporting Standard applicable in the UK and Republic of Ireland Published on 16 July 2014 (as amended by Upd8te Bulletin 1 published on 2 February 2016). Trustees of the Charit The trustees who have served during the year and since the year end are as foll0v￿. Mr G W Smart MBE Miss K A Dilks Ms S Barn85 Mr R French 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 Mrs E L Bowskill Mrs M Dilks Mrs M A Chaston (Appointed 04.05.23) {Reslgned 04.05.23) (Resigned 04.05.23) Ives and actlvltles The principal activity of the charity continues to be to provide relief for children suffering from heart disease and allied conditions by the provision of facilitss with the oblect of improving their condltions of Ilfe. The strategy for achieving them has bèen to advertise Heart Link primarily through its members and obtaln donatlons as 8 result. There is therefore signific8nt use of volunteers wlthln the charitys income generatlng actlvrtles. Public Benefit Statement The trustees have considered the general guidance on public benefit issued by the Charitiès Commission and has taken due regard of that guidance. The trustees conslder they a￿ satisfied that the charitys activities do provide a wide public benefit. Achievements and Performan During the year, the Board has continued to seek every opportunity in obtalnlng donatlons frorn every available source. They have maintained the continued support from several key provi¢Jers of donations induding some legacies and large anonymous donatlons which has bolstered its reserves. There were al80 Some large one off donations during the year whith has helped the organisation conslderably. As well as the Committee, the organisation depends on the hard thork of many volunteers who have helped the organisatlon obtsln monies from various fundraising activities. Page 2 {Regi5tered Charty no: 513946) HEART LINK (EAST MIDLANDS CHILDREN'S HEART CARE ASSOCIATION) Trustees Annual Re ort for the oar ended 31 March 2024 Contlnuod Achievements and Performance continued A large percentage of this Income has been allocated to the Children's ward (Ward 1 and CPICU) Kessington Building at Leicester Roydl Infirmary. The organisation has also spent some of Iheir reserves in obtaining medical equipment. The trustees have examined the PriF￿1paE areas of the charftsls operations and consider the major risks whlch may arlse in each of ttrEse areas. In the opinlon of the trustees. the charity has established resources and revlewed system8 which, under normal circumslances, should allow Ihe risks to be Identif￿ by them to be mitigated to an acceptable level in its day-to-day operations. Financial Review includin reserves The charity also maintained ts direct charitable support by fundlng various large equipment totslling £40,945 for year. The deslgnated fund which is specific for the parents accommodations at the Leicester Hospitals has been utilised with the balance transferred back to general unrestricted funds. The £4,000 restricted fund has also been Iransferred to general unrestricted reserves. As a result of the large payments for the parents accommodation. the charity made a net defictt of £81,057. The trustees have examined the charitys requirements for reserves in light of the risks to the organisation. It has estsbllshed a pollcy whereby the reserves are imiested on deposlt at the HSBC Bank in a high deposit account. The present level of reserves are sufflclent. The reserves at the end of the financial year were £719,294. These are all unrestrlcted general reserves. Plans for future The organlsatlon's plan as al 31 March 2024 is to close this charity and transfer all of its assets and liabilities to a newly formed Charitable Incorporation Organisatlon called HEART LINK CHILDREN'S CHARITY. The new CIO'S Charlty Number is 1203709 and Companies House Number CE032768. Structure overnance and mana ement The organisation became a registered ¢harlty on 10 August 1983. It is governed by the members of the council who are appointed as prescribed by the bye-lamts. Trustees are elected in accordance with the constitutlon which was adopled in November 1982 and amended on 3 September 2009. Trustees are recruited for their serviGe to the Charity or their skllls In the areas of tl* Chari￿s principal activity. Trustees serve t￿E1r terms arKI are eligible for re-election. Trustees are sought in a variety of voays involving exploration of the field of potential candidates, induding recommendation from existing trustees and supporters. Potential trustees are scrutinised by nominatlons and are subject to inteniiew before being proposed as a trustee. Page 3 (Registered Charty no: 513946} HEART LINK (EAST MIDLANDS CHILDREN'S HEART CARE ASSOCIATION) Trustoes Annual Re ort for the ear ended 31 March 2024 Continuod Structure vernanGe and mana ment contlnued All new trustees are requlred to undertake an induction programm6 and undergo a structured introduction programme. They also undergo a structured introduction to the operations of the charity. Trustees meetlngs are held perlodically to review and agree major areas of policy. The responsibilty for reviewing key areas of activity and policy are delegated to members of the board. Investrnent ic The charty has adopted a total return policy for its investment income. Thls Is achieved by maintainirKJ Its primary funds in a money market bank account ￿lding Interest at a higher rate than the normal current account. Statement of Trust s, res nsibilities The trustees are responsible for preparing the Trustees Annual Report and the financlal ststements in accordance wth applicable law and Unlted Klngdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practice). The law applicable to charities in England & Wales requires the trustees to prepare the flnancial statements each year which give a true and falr view of the state of affairs of the charity and of the incoming resources and appllcatlon of resour￿5 of the charity for that period, In preparing these financial statements, the the trustees are required to: select suitsble accounting pollcies 8nd apply them consistently. observe the methods and principles in the Charities SORP 2019 (FRS102); make judgements and estimates that aTe reasonable and prudent; state whether appllcable accountlng slarxlards have been followed, subject to any material departures disclosed and explained in the financial statements". prepare the financial statements on the going concern basls unless It is inappropriate to presume that the charity will Gontinue in operatlon. The trustees are responslble for keeping accounting records that disclose wlth reasonable accuracy at any time the financlal position of the charity and to enable them to ensure that the financial statements comply with Ihe Charities Act 2011. the Ch8rity (Accounts aNI Reports) regulations 2008 8nd the provisions of the trust deed. They are also responslble for safeguarding the assets of the charlty and hence for takirKJ reaSona￿e steps for the prevention and detection of fraud and other irregularities. The tfustees are also responsible for the maintenance and integrity of the charity and financial infomiation included on the charitys website. Legislation In the United Kingdom governing the preparation and dlssemlnatlon of flnanclal statements may differ from legislation in other jurisdictions. ON BEHALF OF THE BOARD stee Dated.. 2nd May 2024 MrG W Smart MBE Trustee Name Page 4 {Reglstered Charity no. 513946) Inde ndent Auditors Re rt to the Trustogs HEART LINK EAST MIDLANDS CHILDREN'S HEART CARE ASSOCIATION inion We have audited the financial statements of Heart Llnk (East Midlands Children's Heart Care Assoclation) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance Sheet and notes to the financial S￿ernents Indudlng slgnlficant accounting policies. The financial reporting framework that has been applied In their preparation is applicable law and Unlted Kingdom Accounting Standards Including FRS 102 'The Financial Reporting Standard. applicable in the UK and Republlc of Ireland (Unlted Klngdom Generally Accepted Accountlng Practice). In our opinion the financial staternents.. give a true and fair view of the stste of the charityls affairs as at 31 March 2023 and of it's Incomlng resources and appllcatlon of resources for the year then ended., have been properly prepared in accordance with Unlted Kingdom Generally Accepted Accounting Practice,. and have been properfy prepared in accordance wlth requirements of the Charities Act 2011. Basis of o Inion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described In the Auditorfs responsibilitles for the audlt of the fln8nclal statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financSal statements in the UK, including the FRC'S Ethlcal Standard, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our oplnlon. Conclusions relatin to in conc•m In audltlng the flnanclal statements, we have concluded that the twstees, use the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any materlal uncertainties relating to events or conditions that, individually or collectivdy, may cast signrficant doubt on the chariws ability to continue as a going Goncern for a perN)d of at least twelve months from when the financial statements authorlsed for Issue. Our responsibilities and the responslbllStles of trustees with respect to going concem are described in the relevant sections of this report. Other Informatlon The other information comprlses the information included in the trustees annual report, other than the financial ststements and our auditof s report thereon. The fir￿nCial statements and our auditorfs report thereon. The trustees are re¥ponsible for the other information contslned vdthln the annual report. Our oplnlon on the flnanclal statements do not cover the other information and, except to the extent otherwise explicitly stated in our reporL we do not express any form of assurance conclusion thereon. Our responsibility 18 to read the other information and, in doing so, conslder whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or othemise appears to be materially misstated. If we Identrfy such material inconslstencles or apparent material misstatements, we are required to determine whether thls gives rise lo a material misstatement in the financial statements themselves. If, based on the )M)rk we have performed, we conclude that there Is a material misstatement of thls other information. we are requlred to report that fact. We have nothing to report in this regard. Page 5 (Registered Charity no: 513946) ort to the Trustees Indè endent Auditors R• HEART LINK EAST MIDLANDS CHILDREN'S HEART CARE ASSOCIATION continued Matters on whlch we are uirod to re ort b ex¢• tlon We have nothing to report in respect of the followiro matters in relation to whlch the Charities (Accounts and Reports) Regulations 2008 require us to report to you ff, in our opwnion". the information given in the financial statements is inconslstent in any materlal respect with the trustees, report: or the charty has not kept adequate accounting records. or the flnancial statements are not in agreement with the accountlng records and returns: or we have not received all the information and explanations we require for our audit. onslbllltles of trustees As explained more fully in trustees, responsibilities statement, the trustees are responsSble for the preparatlon of financlal statements whlch glve a true and fair view, and for such intemal control as the twstees determine is necessary trj enable the preparation of the financk81 statements that are free from material misstatement, whether due to fraud or error. In preparing the firkgnclal statements, the trustees are responsible for assessing the charitys ability to continue as a going concem, disdosing as applicable, matters related to golng concern and using the going concem basis accounting unless the trustees elther Intend to liquidate the charty or cease its operations. or have no realistic altemative but to do so. Audltor's res nslbllltles We have been appointed as auditors under section 145 of the Charities Act 2011 and report In accordance with ragulalions made under sectlon 154 of that Act. Our objedives are to obtaln reasonable assurance about whether the financlal statements as a whole are free are free from material misstatement. whether due to fraud or error. and to issue an auditorfs report that indudes our opinion. Reasonable assurance is a high level of assurdnce, but is not a guarantee that an audlt conducted In accordance with ISASS (UK) wlll always detect a material misstatement when it exits. Misstatements can arise from fraud or error and consldered material rf, individually, or in the aggregate, they Could reasonably be expected to infiuence the economic decisions of users taken on the basis on these financial statements. Because of the In￿ent limitations of an audit, there is a risk that we wlll not detect all irregU￿anties, including those leadirKJ to a material misstatement in the financial statements or non