CHARITY REGISTRATION NUMBER.. NIC100399 The Heart Trust Fund {Belfast Heart Centre) Unaudited Financial Statements 31 December 2024 Finegan Gibson Ltd Chartered Accountants & Registered Auditors Causeway Tower 9 James Street South Belfast BT2 8DN
The Heart Trust Fund (Belfast Heart Centre} Flnanclal Statements Year ended 31 December 2024 Page Trustees, annual report Independent examinerfs report to the trustees Statement of financial activilies Statement of financial position Notes to the financial statements
The Heart Trust Fund (Belfast Heart Centre) Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and the unaudrted financial statements tsf Ihè charity for the year ended 31 December 2024. Chair'$ rèport R&f•ranc& and administrativè dètails Regt5tered charity name The He8rt Trust Fund18elfast Heart Centrel Charity reglstratlon numb•r NIC100399 Prlnclpal offlcè 9B Castle Street Comber Newtonwnards BT23 5DY Thè trustè•s Dr R A Harnillon (Chairperson) Professor J McLaughlin Dr N Johnston Sir M Homer Mr D Allister Indopondènt 8xamlnor Conor Dolan FCA
The Heart Trust Fund (Belfast Heart Centre} Trustees. Annual Report Iconunuodl Year ended 31 December 2024 Structur•, govarnanco and managèmènt Governing Document The Heart Trust Fund was esiablished by a Trust Deed in 1980. There were subsequent amending d88ds and, in partUlar. a deed of settlement issued in the High Court in 1990 which clearfy sets out the objectives and the prescribed structura. A change ol name on th6 Trust Dèed from Thè Hèart Trust Fund (Royal Vrctoria Hospital) lo Thè Heart Trust Fund (Bellast Heart Cenlrel was approved by the Court in September 2021, having been approved by Thè Charity Commission in January 2021. D8Èds of Rètir8m8nt and Appointment of new Trustees were also updated in September 2021. Appointment of Trustees Trustees are recruiled to meet the skills required to effects'vely run the charity. The number of trustees is five, a5 prescribed by the trust deed. The sknlls and knowledge required irlude rnedical knowledge, 18gal, investment 8nd an understanding ol research. There have been no changes to the Chair or other Trustees during 2024. Trustees Inductlon and Tralnlng New trustees are given a detailed explanation of the work of the charty. They a also guided through Ihe Trust Deeds which established the charity with partieular 8mphasls on the objectives. Visits lo th8 Cardiology Department at the Belfast Trust are arranged at interva15 to allow the trustees to develop a good understanding of the organisalion which the charity was established to support. Such visits had not ocCUrd during the COVID pandemic but a visit was re-established durlng 2022 and hopefully another will be arranged durin9 the next few years. Oryanlsatlon Strueturè The trustees usually m89t two or threo tirnes 8 year. dep919 on applications and financial commitments. Discussion arKI decisions taken are reeorded in the mlnutes of each meeting. In the event of an issue having no overall consensus, decisions are taken by a majority of vote. Three meelings were hdd during 2024 in March, June and October. Rèlatèd Partiès ond Co-operntson with other Organisations As dictated by our Trust Deed, one of th8 Truslees is appointed by the Cardidogy Dopartment of the Belfast Trust IBelfa51 Heart Cenlre), the organisalion which the charity was estsblished to support. Risk Management The Charity does not recognise any 'major risks.. In order to meet the unlikely risk of legal challenge the trustees have in place appropriale insuran.
The Heart Trust Fund (Belfast Heart Centre) Trustees, Annual Report (Mnlinuedl Year ended 31 December 2024 Objectives and actlvltles The objectives ol thè fun(f are set out ir) the 1990 Trust Deed with the name change updated in Deeds of Retirement and Appointment of New trustees in 2021 and are as follows: The advanment and support of the Belfast Heart Centre. The prornotion and support ol cardiae research In the Belfast Heart Centre. The promolion of hlgh standards of patient ¢aTg in the Bg118sI Heart Centre. The provision of facilities and services for the care of patients requiring care in thg Belfast Heart Centre. The promotion ol high standards of patiènt carè in surgical cardiology at the regional ntr in Belfast. The provlslon of facilities and seivice5 for the care of patients requiring surgical cardiac treatment at the regional centre in Belfast. The promotion 8nd advancement of hostyal research into medical and surgical ireatment in cardiac disease in North8rn Irdand. Public Beneflt The Tru51ees. having regard to the Northern Ireland Charty Commisslon guidance on public benefrt, have reviewed the activities of the Trust ar>d th8 work at the B81fast Heart Centr8 which thg Trust supwjrts. Public health of the population of Northern Ireland is b8nefitted in a vari&ty of aspects of cardiac care and a section on the appllcatlon form for grants now requests ¢llni¢21 or so¢iel81 impact to be addressed. Achlevemonts and pèrformance During 2024 the Trust ntInUed to fund a variety ol projecis. A project over three years due to comp]Ètg 88rty 2024 was given a three months extension, requesled due to disruption caused by COVID. Another project over two years for an MD completed in 2024. A third project to run over two years COMMend in August 2023. Progress reports from all grant recipients were provided at intervals to rea55LJre progress lo the Trustees and to anticipate any problems or delays as early as possible which could affect funding. One new application for research was received In 2024. This was the largest request for fundiry received to date and a special presentation by the appli1 8nd supervisors wa5 arranged for this reason. The applicant was successful in reing funding from The British Heart Foundation and The Heart Trust Fund agreed lo lund 6 months sel up costs with a view to further funding at a later slage subject to a further application and progress reports. No applications were received to support staff training during 2024. The Heart Trust Fund webslte was kept updated dUrg the year.
The Heart Trust Fund (Belfast Heart Centre) Trustees. Annual Report (conNnued) Year ended 31 December 2024 Financial revi•w The financial position of The Heart Trust Fund in 2024 wa5 8 value of £2,645.707 shovAng a decrease in total value of 0.1%. Expenditure £279.314. was again higher than in the previous three years a$ Tesearch recommenced following the pandemic and the Trust was funding 4 projects during 2024. Tha majority of requests are n()w for 3 years PhD research and salaries have increased 8nd costs associated with research have aL80 increased. Total income generated frorn investments and donations was £329.417, an increase from the previous year both in donations and legacies and Investment Income. The Investment management costs associated with running the Tru51 and 115 inveslments was £15,34, higher than the previous year but equivalent to 4.7% of gross incomè. Reserves Policy It is our policy lo retain a cash reserve of approxlmatÈly 50% of rx)r average annual expenditu. At the end of year our Cash reserve was £68,360. This is low8r than th8 target amount but expenditure in 2024 was higher both due to number of projects funded and costs ol individual projects increasiwJ lor reasons given above. Thi5 is unlikely to change going forward. Investmont Pollcy We maintain a statement of investment policy which continues lo be reviewed on an annuBI basis. Plans for futur• pèriods We will ctsntinue to support the work In thè Belfast Heart Centre as well as offering some training support to nurslng staff in olhèr cardiology departments within Northern Ireland if requested. DLJe to the 18r9er arnounts of grants being requested and the eomplexity ol the projects it is likely that the Trustees will iequ¢st to meet with the appllcants and their supeNisors for a presentation and opportunity to ask question5 before a deciston regarding funding is made. Post YearEndlmpact of Covid-19 Rese8rch activity appears to be thriving in the Belfast Heart Centre back to levels seen before COVID and the expectation is that applical'ons for research grants will continue a5 preVi$1y. The Charity rinanees appear to be f8irly stable at present. Funding for projects is from income generated from investments with some income from individu81 donations. Tharè is some discretion in this il the value of the fund is increasing and there are requests for funding for projeets deemed by the Trustees to be worthwhile. The Trustee meetings will continue al two or three each year dependlng on applicalions reived. Financially the Trust is stable 8nd in a good position to maintain its objectives in the year ahead. The trustees, annual report was approved on 15 September 2025 and signed on behalf of the board ol Iruslees by.. Dr R A Hamilton {Chairpersonl Trustee Professor J McLaughlin Trustee
The Heart Trust Fund (Belfast Heart Centre) Independent Examinerfs Report to the Trustees of The Heart Trust Fund (Belfast Heart Centre) Year ended 31 December 2024 I report tr) the trustees on my examSnation of the financial statements of The Heart Trust Fund IBelfa81 Heart Centrel Ilhe charity'l for the year ended 31 December 2024. Responsibilitie5 and basis ot report As the trustees of the charity you are responsible lor the preparation of the finan¢i815t8tements rn accordance with the requirements ol the Charities Act (Northern Ireland) 2008 (the '2008 Act'l. You are satisfied that your charity is not r6quired by charity law lo be audited and have choTr5en instead to have an independent Èxamination. I rep(>rt in resp¢ct of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed tha general Directions given by the Charity Commission for Northern Ireland LJnd8r section 6519llbl tsf the 2008 Act. Independent examinerfs statement Since the charfly's gTOSS Income exceeded £250.000 your examiner musl be 8 membei of o body listed in section 65 01 the 2008 Act. I confirm that l am qualified to undertake the examination bècaus8 l am a member ol Chartered Accountants Ireland, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in conne¢lv)n with my èxamination giving me ¢8u$& to bèliavè that in any material respect.. accounting records were not kept as required by with section 63 of the 2008 Act., or the financk?I ststements do not accord with those records; or the financial statements do not comply with the accounting requiramenls of the 2008 Act: or the finan¢i81 $tstemenl$ do not comply with thè appllcable requirements conmIng the form and content of accounts sèt out in the Charilies (Accounts and Reports) Regul8tions 2008 other than any requirement that the accounts give a 'true and fair. view which is not a matter considered as part of an independtrnt examinatlon. I confirm that there are no other matters to which your 8ttenti¢Jn should b6 drawn to enable a proper understanding of the accounts to be reached. Conor Dolan FCA Independent ExamSner Finagan Gibson 9 James Street South Causeway Towgr BT2 8DN Dale.. I Syt
The Heart Trust Fund (Belfast Heart Centre) Statement of Financial Activities Year ended 31 December 2024 2024 Unrestricted funds Total funds Tot81 funds 2023 Note Ineomè and endowment$ tk)nations and legacies Invgstmgnl incowne 21,150 308.267 21,150 308,267 2,775 78.015 Total incom• 329,417 329,417 80,790 Expenditure Expenditure on raising funds.. Costs ol raising donations and legacies Investment management eosts Expenditure on charitable activities Totsl expenditure 12161 115,3421 1263.7561 1279.3141 12161 11971 (15,3421 112,9011 1263.7561 1182.5591 1279.3141 1195.6571 Net Ilossesygains on Investments 10 153.7241 {53.7241 157.651 Net lexpendlturnllineomè and net movement In funds 13,6211 13,6211 42.784 Reconciliation of funds Total funds broughl forward Total funds carried forward 2,649.328 2,645,707 2,649,328 2,606.544 2,645,707 2,649,328 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure dere from continuing activities. The not85 on pag¢$ 8 to 15 form part of these finanelal statements.
The Heart Trust Fund (Belfast Heart Centre) Statement of Financlal Posltlon 31 December 2024 2024 2023 Not8 Fixed assets Investments 14 2,684.420 2,676.286 Current assets Debtors Cash at bank and in hand 1S 350 22,672 366 34,383 23,022 34,749 Cr•ditor5: amounts falling due withln one yèar Net current Ilabllltl•s 61.735 61.707 38,713 26.958 Total assots lass currant liabilitié 2.645,707 2,649,328 Net assets 2.845,707 2,649,328 Funds of th• charity Unrestricted fund5 2,645,707 2,649,328 Total char5ty funds 17 2,645.707 2,649,328 Thèse financial stalemenls were approved by the board of trustees and authorisèd for issuè on 15 Septernber 2025. and are signed on behalf of the board by.. Dr R A Hamilton Ichairpersonl Trustee Professor J M¢L8ughlin Trusts .044a Th• not¢$ on pago$ 8 to 15 form part of th•so financlol 5tat8ments.
The Heart Trust Fund (Belfast Heart Centre) Notes to the Financial Statements Year ended 31 December 2024 General information The charity is a public benefit entity and a registered charity in Northem Ireland and Is unincorporated. The address ol the principal office is 9b Castle Street, Comber, N8Wtownards. BT23 5DY. ststernÈnt of compliance These finarla1 statements have been prepared in complianeo with FRS 102, 'The Financial Reporting Standard applicable in the UK and th8 Republic ol Ireland., the Statement of Recommended Praclice applicable to charities preparing their accounts in a¢cordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharities SORP IFRS 10211 and the Charities Act (Northern Ireland) 2008. Aceounting polieiès Ba¥1¥ of preparation The financial statements have been ppared on the hlstori¢al cost bas, as modified by the revaluation of certain financial assets and liabiliti8s and investment properties measured al fair Value through income or expendilure. The financial statements are prepared in sterling, which is the functional ¢JJrrency of the entity. Golng eonc8m There ara no matèrial uncèrtainties about the charily's ability to continue. Disclosure exemption$ The charity has taken advantage of the exemption in SORP 201S from the requirement to produce a cashflow statement because il is a small ¢haiity. Judgemonts and kay sources of estlmatlon uncertalnty Thè prèparation ol the financial statements requires management lo make judgements. estimates and assumptions that affect the amounts reported. These estimates 8nO judgements a continually reviowed and are based on experience and other factors, including expeetati0Tr5 of future events that are believed to be reasonable under the circumstances. Fund a¢¢ounting Unrestricted funds are available for use at the discreti¢)n of Ihe trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the Iruslees for particular future project OT commitment. Rèstri¢ted funds are subjo¢ted to reslrictlons on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two 5ub-classes.' restricted income funds or endowment funds.
The Heart Trust Fund (Belfast Heart Centre) Notes to the Flnancial Statements Iconllnuod) Year ended 31 December 2024 Accountlng pollci8s {eonlIn) Incoming resources All incoming resources are includsd in th8 stst8menl of financial activities when enl'tlement ha$ passed lo the charity., It Is pmbable that the economic benefits associated with the transaction will flow to the charity and the arnount can be reliably measured. The following Specif policies are applied to partUlar categortes of income.. incorne from donations or grants is récognised when there is evidence of entitlement to the glft, re¢eipl is probable and its amount can be measured reli8bly. legacy income is recognlsed when receipt is probable and enlillement is establsshed. Income frorn donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated faciliti85 and servi¢85 are recognised in the 8¢counts when reiVed rf the value ean be reliably measured, No amounts are included for the contribution ol general voluntaers. income from conlr8cts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is 8 contractual requirement for it lo be 5p8nt on a particular purpose and returned unspent. in which ease it may b8 regarded as restricted. Resources expended Expenditure is recognised on an accruals b8$1$ 88 a liabilty is incurred. Expendrture includes any VAT which cannot be IllY rewvered, is classifpd under headings of the statement of financial aclwities to which it relate5'. expenditure on raising funds includes the costs of all fundraislng activit*S. &Vonts, non-charitablè trading aclNities. and the sale of donated goods. expènditure on charitable acti¥rities includes all costs incurred by a charity in undertaking actwiti8s that further its charitable alms for the benefit of its beneficiaries. including those svpport costs and costs relating to the governance of the charity apportioned to charita8 a¢tiviti8S. other expenditure includes all expenditure that is neither related to ralsing fLJnds for the charity nor part of its expenditure on charitable activltlès. AII costs are allocated to expenditure catagorias reflecting the use of the resource. Direct costs attrlbutablè to a Sing activity are allocated directly to th818divily. Shared costs are apportioned between thè aclivilies they contribute to on a reasonable, juslifi8ble and consi51enl basis. Tangible ass•ts TatyJible assets are initially recorded at cost, aThJ subsequently statèd at cost less any accumulated deprèeiation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the lair value at the date of revaluation less any subsequent accumulated depreciation and subsequent aecumulated impairm8nt105ses.
The Heart Trust Fund (Belfast Heart Centre) Notes to the Financial Statements (GontinrRdJ Year ended 31 December 2024 Accounting polÉcies fcontlnu8d} Tangible assets Iconthiu¢dJ An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other reeognised gains and losses, unless it reverses a charge for irnpairmènt that has previously been recogni5ed 8s expenditure within the staternent of financial adivities. A decrease in the carrying amount of an ass81 as 8 resutt of revaluation. is recognised in other recognised gains and losses. except to which it offs8ts any previous revaluation gain, in which case th8 loss is shown within other recognised gains and losses on the statement of financtal actwilie3. Depreclatlon Depreciation is cal13ted so as to write off lh8 ¢05t or valuatlon of an asset, less its r85idual valuè, over thè useful 8conomic life ol that as5el as follows.. Fixtures and fittings 25% Straight line InvtmentS Unlisted equity investments are initially recorded at wst. and subsequently measured at fair value. If fair value cannot be reliably measured, assèts ara m&asured al cost less impairm&nt. Listed investments are measured al fair value wth changas in fair value being recogni58d in income or expenditure. Impalmiènt of flxéd asséts A review for indi¢8tor5 of impairment is carried out at each reporting datè. with the recoverable amoiunl being estimated where such indicators exist. Where the carrying value exceeds the ree¢)verable amoLJnt, the asset Is impaired accordingly. PrKY impairmerhts are also reviewed for posstble rever$818t gach reporting date. For the purposes of impairment testing, when it is not possible lo estimate the recoverable amount of an individual 8sset. an èstimate is made ol the recoverable amount of the Cashenerating unit to which the asset belongs. The cash-generaling unit is the smallest identifiable group of assets that includes the asset and generates c8sh inffows that largely independent of the cash inflow5 from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business Combination is, from the acquisition date. allocated to each of the cash-generating units that are expected lo benefit from the synergies of the combination, irrespedive of whether other assets or liabilities of the charity arè assvJned to those untts. Finarhcial instruments A financial asset or a financial liability is recognlsed only when Èhe charity becomes a party to the contractual provisions of the inslrumenl. Basic financial instruments are inilially recogniséd at amount re*Vable or payable including any related transaction costs. Current assets and Current lbIlItIes are subsequently measured at the cash or other corssKleralion expected lo be pald or rocoived and not discounled. 10
The Heart Trust Fund (Belfast Heart Centre) Notes to the Financial Statements (Gontsnttsdj Year ended 31 December 2024 A¢¢ountlng pollel¥$ (¢onllmied) Flnanclal Instruments l¢tsniinu8d) Debl instruments are subsequently measured at amortised cost, Where inve5tm8nts in shares ar8 publicly traded or their fair value can otherwise be measured li8bly, the investment is subsequently measured at falr value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured al ost less impairment. Other financial instruments, including derivatives. are initially recognised at falr value. unless payment for an asset Is deferred beyond normal business terms or financed at a rate of interest that is rK)t a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate ol interest for a similar debt inslrumenl. Other financial inslrurnents are subsequently measured at faSr value, with any changes recognised in the statement of financial activities, with th& exception of hedging instruments in a designatèd hedging relatTon$hip. Financial assets that are measured 8t cost or 8mortised cost a reeWed for objective evidence of impairrnenl at the end of each reporting dat8. If th8r8 is objectwe evidenc& of impairmenÉ, an impairment loss is recognised under the appropri81e heading in the statement of financk21 a¢viUeS in which the initial gain was recognised. For a11 equity instruments regardless ol significan, and other financial assets that are individually significant, these a assessed individually lor impairment. other financial assets ar6 either assessed individually or grped on the basis of similar credit risk characteristics. Any r6v6rsals tsf impairment are recognised immediately, to the extent that the reversal d085 not result in 8 earrwng amount of the financial asset that exceeds what the carrying amount wovld have been had thè impalrm&nt not previously been recognised. Donations and 1•gaeiès Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations DonaÉions 21,150 21.150 2.775 2,775 Investment income Unre5tricled Total Funds Unrastricted Total Funds Funds 2024 Funds 2023 Income from UK listed investmenis Bank Interest receSvable 308,200 67 308,200 67 76.758 1.257 76,758 1,257 308.267 308.267 78.015 78,015 11
The Heart Trust Fund (Belfast Heart Centre) Notes to the Flnanclal Statements {ConrdI Year ended 31 December 2024 Costs of raising donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Furyjs 2023 Costs of raising donations and legacies Donations 216 216 197 197 Inv•stmènt manag8m•nt costs Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Investment management fee5 15,342 15,342 12,901 12,901 Expèndltum on eharitabl• aetlvltl•s by actlvlty type Activities undertaken dlrectly Support costs Total funds 2024 Total fund 2023 Support to the Regional medal C8rdK)logy C8nlre at RVH Governanc8 costs 260,822 2,621 313 263,443 313 178,927 3,632 260,822 2,934 263,756 182,559 Analysls of support costs Support to the Regional Medical Cardiology Centre at RVH Total 2024 Total 2023 PremSses Communications and IT General office Governance costs 777 383 1,461 313 777 383 1.461 313 892 353 3,294 3,632 2.934 2.934 8,171 10. Net110sse$llgains on inv8Stm8nts Unrestricted Total Funds Unrestricted Total Fun¢Js Funds 2024 Funds 2023 Gainslllossesl on listed investments 153,7241 153,7241 157,651 157.651 12
The Heart Trust Fund {8elfast Heart Centre) Notes to the Financial Statements (conuntredj Year ended 31 December 2024 11. Independent examination fees 2024 2023 Fees payable to thè indepèndent examinei for.. Independent examination of the financi81 ststements 1,896 12. Trustèè rèmunèratlon and •xp•ns•s No remuner8tiorh or other benefits from Èmployment with the charity or a relale(l entity were received by the Iruslees. 13. Tanglble fixed assets Flxtures and flttlngs Cost At 1 January 2024 and 31 D8e•mbar 2024 Depreciation At 1 January 2024 and 31 December 2024 Carrying amount At 31 Dember 2024 450 450 At 31 December 2023 14. Investments Cash or cash Listèd equivalents investrnents Total C05t or valuation At 1 January 2024 Additions Disp05als Falr value movements Other rnovements 58,742 1519,0731 653,411 2,617,544 519,073 1653,4111 191,360 191.360 158,5061 1183.2261 2.616,060 2,684.420 2,676.286 1124.7201 68,360 At 31 December 2024 Carrylng amount At 31 December 2024 68,360 2.616,060 2,684,420 Al 31 December 2023 58,742 2,617,544 2,676,286 All investments shown above are held at valuation. Financial assets held at fair valuè These investments were valued by Br8win Dolphin. BeW8St. 13
The Heart Trust Fund (Belfast Heart Centre) Notes lo the Financial Slatements Ironfinugd) Year ended 31 December 2024 15. D•btors 2024 2023 Prepayments and accrued income 350 366 16. Cr8dltors: amounts falllrtg duè wlthln one yaar 2024 2023 Bank loans and overdrafts Accruals and deferred income 11601 61.895 32.240 29.467 61.735 61,707 17. Analysls of charitable funds Unrestricted funds At 1 January 20 24 Gains and 31 D8c8mbar losses 2024 Income Expendlture General funds 2.649,328 329,417 1279.3141 153.7241 2,645.707 At 1 January 20 23 At Gains and 31 Dgcèmbèr losses 2023 Income Expenditure General funds 2,606,544 80,790 1195,6571 157,651 2,649.328 18. Anaty515 of net assets between fund5 Unreslricled Totsl Fund$ Fund5 2024 Investments Current assets Creditors less than 1 year Nel assets 2,684,420 23.022 161.7351 2.645,707 2,684.420 23,022 161,7351 2,645.707 Unrestricted Total Funds Funds 2023 Investrnen15 Current assets Cr8dltors less than 1 year Not ass8ts 2.676,286 34.749 161,7071 2,649,328 2,676.286 34.749 161,7071 2,649,328 14
The Heart Trust Fund (Belfast Heart Centre) Notes to the Financial Statements (wntinu¢dl Year onded 31 December 2024 19. Relat•d parties No related party transactions ctcurred during the 2024 year12023'.NILI. 15
The Heart Trust Fund (Belfast Heart Centre) Management Informatlon Year ended 31 December 2024 The followlng pages do not forni part of ts financial statèments. 16
The Heart Trust Fund (Belfast Heart Centre) Detailed Statement of Financial Activities Year ended 31 December 2024 2024 2023 Income and Èndowments Donatlons and18gaci Donations 21.150 2.775 Investmènt Incomè Income from UK Ilsted investments Bank Snterest racgivable 308.2CLI 67 76.758 1.257 308.267 78,015 Total Incom• 329,417 80.790 17
The Heart Trust Fund (Belfast Heart Centre) Notes to the Detailed Statement of Financial Activities Year ended 31 December 2024 2024 2023 Costs of ralslng donatlons and legac5es Costs of ralslng donatior7s and lègaclos Donatlons Fundraising costs 216 197 Costs of ralslng donatlons and lègaelès 216 197 Investment manag•mènt costs Investment management fèès 15,342 12,901 Expendlture on charitable activities Support to the Reglonal Madleal Cardlology Centre at RVH Activities undertaken dlrectly Research grant costs Website costs 260,290 532 174,243 145 260,822 174,388 Support cgsts Ront & iales Insurance Secretarial expgnsès Telephone Postage. stationery and advertising Sundry expendilurtr 625 267 2,572 353 209 513 777 1,082 383 335 2,621 4,539 Govèrnance costs Accountancy services Bank interest payable 265 48 3,591 41 313 3,632 Expendbture on charitable actlvStles 263.756 182,559 N•t {loss•sllgains on investments Gainsl(lossesl on listed InVestnts 153,7241 157,651 Net {expenditureifincome 13,6211 42,784