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 part￿Ular. 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 ir￿lude 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 ocCUr￿d 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. dep9￿1￿9 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 advan￿ment 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 COMMen￿d 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 appli￿￿1 8nd supervisors wa5 arranged for this
reason.
The applicant was successful in re￿i￿ng 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 dUr￿g 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
re￿ived. 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 con￿mIng 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 der￿e 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 finar￿la1 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 p￿pared 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 part￿Ular 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 re￿iVed 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 I￿llY 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 charita￿8
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 cal￿13ted 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
Inv￿tmentS
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
Cash￿enerating 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 l￿bIlItIes 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￿ re￿eWed 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 gr￿ped 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 {Con￿￿r￿dI
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 med￿al
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 De￿mber 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 InVestn￿ts
153,7241
157,651
Net {expenditureifincome
13,6211
42,784