CHILDREN'S HEARTBEAT STATEMENT OF FINANCIAL ACTIVITIES (Incorporating the Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024 Unrestrficted Fund5 Restricted Funds Total Funds 2024 Total Funds 2023 Income from: (note 3) Donations and legacies Charitable activities Other trading activities Investments Other 454,043 3,765 193 10,594 75,225 529,268 3,765 193 10,594 432,688 2,740 2,595 1,656 Total income 470,927 75,225 546,152 439 679 Expenditure on: (note 4) Raising fund8 Charitable activities Other 54,603 390,083 54,6D3 474,117 60,678 439,342 109,687 84,034 Total expenditure 447,038 84,034 531,072 609 707 Net gainsl(losses) on investments Net ineome/{expeDditure) for the year 51,723 (8,809) 42,914 (170,028) TrAn5fer5 betiveen funds (1,329) 1,329 Net movement in funds 50,394 7,480 42,914 170,028 Balan¢es brought fonvard at l April 761,299 18,378 779,677 949.705 Balances carried forward at 31 March 811693 822,591 779 677 The incorlle and expenditure sun]w as Tequired to be disclosed by the Companies Act 2006 is included at note 17. Pagell
CHILDREN'S HEARTBEAT (REGISTERED NUMBER: N1609449) BALANCE SHEET 31 MARCH 2024 31.03.24 31.03.23 Notes FIXED ASSETS Intangible a8sets Tangible assets Investments 5,413 2,871 432,579 440,863 9,061 6,046 io 15.107 CURRENT ASSETS Debtors Cash at bank and in hand 12 13,968 415,894 429,862 13.709 800,385 814,094 CREDITORS Arnounts flitig due within one year 13 48,134 49,524 NET CURRENT ASSETS 381728 764 570 TOTAL ASSETS LESS CURRENT LTABILITIES 822 591 779,677 FUNDS Restrictcd ndS Vnrestrieted funds- General fiinds Unrestricted fuThiLs- DeSiated fimds 14 14 14 10,898 196,693 615,000 18,378 191,299 570,000 822,591 779,677 The financial statements have been prepared in a¢cordance with the provisions of Part 15 of the Companies A¢t 2006 relating to small companies. The financial statements were authorised for issue by the Btsd of DirectOTS on signed on its behalf by.. 1..31..1..1.12Q24........ and were Nichola Rooney INDV 13, 2024 5:44 GMT) Hazel Bradbury (Nov 13, 2024 12.. 6 GMT) Prof N Roc)ney- Chairpergnn H Bradbury - Treagurer The notes form part of these financial staternents Page 12
CHILDREN'S HEARTBEAT STATEMENT OF CHANGES IN FUNDS FOR THE YEAR ENDED 31 MARCH 2024 Unre$trieted funds Restricted funds Total funds BAlance at l April 2022 929.190 20,515 949,705 Changes in funds Deficit for year TransfeT between funds (167,891) (2,137) {170.028} Balance at 31 March 2023 761.299 18.378 779.677 Ch2nges fin funds Surplus for year Transfer between funds 51,723 1,329 (8.809) 1,329 42,914 Balance at 31 March 2024 811,693 10,898 822 591 The notes form part of thes¢ financial Statements Page 13
CHILDREN'S HEARTBEAT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Notes 2024 2023 Cash flow5 from operating activities Net ch provided byl(used in) operating activities CFI 9,660 (164.172) Cash flows from investing activities: Dividends and interest received Purchase of investments Net Cash (used in)Iprovided by investing activities 10,594 (404,745) (394,151) 1,656 1,656 Change in cash and cash equivalents in the reporting period (384,491) (162.516) Cash and cash equivalents at the beginning of the reporting period 800,385 962,901 Cash and cash equivalents at th¢ end of the reporting period 415,894 800.385 CFI. Reconciliation of net income/(expenditure) to net cash l]ow from operating activitie5 2024 2023 Net incDmel(expellditte) for the reporting period (as per the staternent of financial activities) Adjustments for: Depreciation cb&rges Amortisation cbarges Dividcnds and interest received Unrealised gain on investments Increase in debtors Decrease in creditors Net cash (used in)/provided by operating activittes 42,914 (170.028) 3,175 3,648 {10,594) (27,834) (259) (1,390) 9,660 3,818 3,648 (1.656) 2,862 {2.816) (164,172) CF2. Analysis of Cash And cash equivalents 2024 2023 Casb in hand Total cash and cash equivalents 415,894 415,894 800,385 800.385 Page 14
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 NATURE OF TRUST ChildTen's Heartbeat is a private company limited by guarantee charitable status incorpoTated in Northern ITeland. The charitable company'5 registered number and registered office address can be found on the Company Inforrnation page. Every member of the charitsble company undertakes to contribute such arnount as may be Tequired not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member or within one year after he OT she ceases to be a member. ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estin]ation uncertainty in the preparation of the financial staternents aTe as follows.. Basts of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement ()f Recornmended Practice applicable tn charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019) (Charities SORP (FRS 102)), the Financial Reporting StandaTd applicabl¢ in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the charitable eornpany. Monetary amounts in these financial statements are rounded to the nearest £1. The charitable company crjnstitutes a public benefit entity as defined by FRS 102. Assets and liabilities are Tecognised at historical cost or transaction value except foT the revaluation of investment5. Going concern The duectors consider that thcre are no material un¢ertainties about the charitable Company's ability lo continue a5 8 going concern therefore the financial statements have been prepared on the going concern basis. Fund a¢¢ounting The ¢harit&ble company has vaTiOUS types of ft]nds for which it is r¢sponsible and which require separate disclosure. These are as follows.. (i) Restricted fi]nds Grants or donations rcccivcd which are designated by the donor for specific purposes. Such purposes aTe within the overall aim of the cbarity. (i1} Unrestricted funds- General fimds Funds which are expendabl¢ at the discretion of the charity in the filltherance of the objectives of the charity. (iiil Unrestricted Fund5 - Designated funds Funds which have been set aside by the cbarity to act as a contingency to ensure the continuity of Service. Designated funds continue to count a5 part of the unrestricted ftlnds of the chaTity. Income All income has be¢n included in the Statement of Financial Activities and bas been recognised when there is entitlement to the income, certainty of receipt and it can be measured reliably. Income froD] government and other grants, whether capital gratLts or revenue ETallts is recognised when the charity has entttlement to tbe funds. any performance conditions allocated to the grants have been met. it is probable the inGorn¢ will be Teceived and the amount can be measured reliably and is not defetred. Investment income is included in the Staternent of Financial Activities when receivable. Page 15 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (continued) EIpenditure All expenditure is accounted foT on an accruals basis and has been classified under headings that aggregate a]1 Costs related to the category. Expenditure on raising ndS are those costs incutted in attractillg voluntary income. and those incUed intrading activities that raise nds. Expenditure on charitable activities comprises tbe costs of delivering services to the con)munity. together with support costs incurred centrally and governance costs associated with the governance arrangements of the charity which are primarily associated with consts'tutional and statutory requirements. All costs are allocated between the expenditure categories of the SOFA on a basis desIed to Tefle¢t Ihe use of the resouTCe. Intangible assets Intangible assets are initially measured at cost, After initial recognition, intangible assets are measured at cost less accumulated amortisation and any accumulated impaimient losses. Cost includes expenditUTe that is directly attributable tn preparing the asset fc)r its intended use. Software is amorti5ed on a straight-line basis oveT a usefjjl life of 5 years, Tangible red assets TanEible assets are stated at eost less accumulated depreciation and any accumulated impainnent losses. Cost include5 expenditure that is dwectly attributable to the acquisition of the assets. Depreciation is provided at the following annual rates in order to write off each asset over its estitnated use] life. Caravans 12.50/0 on cost Fixed asset investments Investtnents are a foTm of basic financial instnjments and are initially recognised at their transaction value and subsequently measured at their faiT value as at the balance sheet date using the closing quotsd market price. The staternent of financial activities includes the net gains and losses arising on revaluation and disposals througbout the year. The charitable company does not acquire put options, derivatives or other complex financial instnlments. All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losse5 on investments are calculated as the difference between sa]es PToceeds and theiT opeuinE carrying value or their purchase value if acquired to subsequent to the f]TSt day of the financial year. Unrealised gains and10sses are calculated as the diffcretLCC between the faiTvalue at the year*nd and their carying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. The Jnaiu forni of financial risk faced by the charitable company is that of volatility in equity markets and investment markets due to wider econon]ic conditions, the ath.tude of investors to investment risK and the changes in sentitnent Goncerning equities and within partIlar sectOIS OT sub sectors. Debtors Sundry debtQTS are reco]sed at the settlement aznount due after any trade discount offered. Piepayments are valued at th¢ amount prepaid of the transaction price. Accrued income is included at the best estimate of the arnounts receivable at the balance sheet date. Page 16 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - ¢ontiDued FOR THE YEAR ENDED 31 MARCH 2024 AccouKfiNG POLICIES (Continued) Creditors Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will Probably result in tbe transfer of ndS to a third paty and the amount due to settle the obligation can be measured Dr estimated reliably. Financial Tnstruments The charitable company only has financial assets and financial liabilities of a kind that qualify as b&g2c financial instnunents. These are initially recognised at transaction value and subsequently measured at their settlement value. Pension costs The charitable company operates a defined contribution scheme. Contributions payable to the charitable company's pension scheme are charged to the statement of financial activities in the period to which they relate. Holiday pay accrual A liability is recognised to the extent of any unused holiday pay entitlement which has accrned at the balance sheet date and is available to carry forward to future periods. This is rneasured at the undiscounted salary cost of the fiiture holiday entitlement $0 aCced at the balance Sheet date. Operating leases The charitable company classifies the lease of premises as an operating lease. The title to the premises remains with the lessor. Rental charge5 are charged to the statement of fmancial activities on a straigbt line basis over the tern) of the lease. Taxation As a charity, the Trnst is not liable to either Income tax or Corporation tax. Significant judgements and estimate5 In Preparing these financial statements tbe duectors have made the following judgements.. Detern]ine whether there are indicators of impairnlent of the company's tangible assets. Factors taken into consideration in reaching such a decision include the eConole viability and expected future financial perforniance of the asset and the business in general. The directors also Consider the depreciation Tatss on an annual basis to ensure there is sufficient evidence to support these and that the estimates remain reasonable. The key source5 of estimation of uncertainty at the reporting date that have a significant risk of causing a material adjustrnent to the ¢arying amount of assets within the next financial year is the level of invesknent rettun and perforn]an¢e of the investments. Page 17 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINATrICIAL STATEMENTS - corAtinued FOR THE YEAR ENDED 31 MARCH 2024 INCOME Unrestricted Funds Restricted Total Funds Funds 2024 Total Funds 2023 Donations and legacies Donations Give As You Earn Grants 441,086 5,710 7,247 454,043 441,086 5,710 82,472 529,268 408.867 2,329 21.492 432,688 75,225 75,225 Charitable activities Caravan fees Sales of merchaThdise First aid course fees 3,765 3,765 2.700 40 2,740 Other trading activitie5 Events fees 193 193 2.595 Investrnent income Dividends - equities Interest - fed interest securities Bank interest 2,258 4,827 3,509 10,594 2,258 4,827 3,509 10594 1,656 1,656 Other income Coalition fees 2,332 2,332 In the prior year. £408.867 of income from donations Telated to UnrestTiCt¢d Funds. In the prior year, £2,329 of income from give as you earn related to Unrestricted Funds. In tbe prior year. £18.492 of income from grants related to Restricted Funds. EXPENDITURE Unrestricted Restricted Total Funds Funds Funds 2024 Total Funds 2023 Raising fund5 Generating donations fees EveTht costs Costs of mercbandise Staff costs Investment rnanagernent costs 6,024 2,653 1,774 41,813 2,339 54,603 6,024 2,653 1,774 41,813 2,339 54,603 4,184 6,785 1,472 48.237 Charitable activlties Awareness and inforation Infonnation resources Merchatldise and pron]otional materials Research Family support Clark Clinic support Mental health programrne Campaigning Strategic development Office running costs Support costs (Note 5) 1,939 5,841 851 22,521 241,172 15,915 1,939 5,841 851 22,521 277,789 15,915 20,033 6,000 21,354 25,935 75,939 474,117 1.224 5,496 4.558 21.341 258,993 28.348 36,617 20,033 6,000 21,354 25,935 75,909 390,083 28,046 91,336 439.342 30 84,034 Page 18 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 Trt4RCH 2024 EXPENDITURE (continued) Unrestrieted Restricted Total Funds Funds Funds 2024 Total Funds 2023 Other Cknldren's Arnbulance 109,687 109,687 2.352 2,352 ANALYSIS OF SUPPORT COSTS Unrestricted Restricted Funds Funds Total Funds 2024 Total Funds 2023 Support cost5 Staff costs Governance costs (Note 6) Piofessional fees IT and development Insurance Bank charges 54,119 6,139 4,064 9,116 1,857 614 S4,119 6,139 4,064 9,116 1,857 644 48,788 5,570 21,085 13,141 1,953 799 30 30 75,939 91,336 ANALYSIS OF GOVERNANCE COSTS UnrestTitted Restricted Funds Funds Total Funds 2024 Totsl Funds 2023 Governance costs Auditor remuneralion Training Statutory requirements - fees 5,320 716 103 5,320 716 J03 4.940 527 103 5.570 STAFF COSTS 31.03.24 31.03.23 Wages and salaries Social security costs Other pension cost 213,839 13,485 4,710 199,987 13,114 4,472 232,034 217.573 Tbe aveTage Dumber of employees duTing the year was 8 (2023.. 9). The directors received no remuneration in the course of their work during the year and no employee received ernoluments in excess of £60.000. KEY fvIANAGEMENT PERSONNEL COMPENSATION Compensation paid to key managernent persoDnel in the year to 31 March 2024 was £59.113 (2023.. £53,325). The prior year included amounts paid to the Interim CEO who was nol atL employee of the Charitabl¢ Company and theTefoTe whose remuneTation was not included at the staff costs in uote 7. Page 19 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 NET INcOL Net income is stated after charging.. 31.03.24 31.03.23 AmDrtisatiDn on intangible assets DepTeciation Auditors remuneration- for audit services Operating lease expense 3,648 3,J75 5,320 15,000 3,648 3,818 4,940 14,907 INTANGIBLE FIXED ASSETS SoftTrvare COST At l April 2023 18,240 At 31 March 2024 DEPRECIA TION At l April 2023 Charge for the year 9,179 At 31 March 2024 12,827 NET BOOK VALUE At 31 March 2024 5.413 At 31 Marcb 2023 9,061 io. TANGIBLE FIXED ASSETS Caravans COST At l April 2023 78.825 At 31 March 2024 78,825 DEPRECIATION At l April 2023 Charge for the year 72,779 3.175 At 31 MaTch 2024 75,954 NET BOOK VALUE At 31 March 2024 2,871 At 31 March 2023 6,046 Pagc 20 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 FIXED ASSET INVESTMENTS Movement in fized a55et listed investments 31.03.24 31.03.23 Market value at l ApIil Additions to investments at cost Disposals at carrying value Revaluation 404,745 27,834 Market value as at 31 March 432 579 Investments at fair value comprised: 31.03.24 31.03.23 Alternatives Equities Fixed interest secuTities Casb held as part of the investment portfolio 116,623 158,473 123,297 34,186 432,579 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.03.24 31.03.23 PTepayments and accrued income 13,709 13.709 13. CREDITORS: AMOUNTS FALLING DUE WUTHIN ONE YEAR 31.03.24 31,03.23 AccTuals Taxation and social security Other ¢reditOTS 17,027 4,607 19,255 3,769 26,500 48,134 49,524 Page 21 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 14. ANALYSIS OF CHARITABLE FUNDS At31 March 2024 At l April 2023 Income & Gains Expenditure Transfers Restricted Funds Adult Congenital Fund Baby Massage Mental Health Project Garden Project Social Justice Small Grants ProgTamme Ulster Garden Villages Building For the Fllfte PrDject Music Therapy Department of Health Carers Fund 2.716 1.211 14,441 io (2.711) (1.211) (20.033) 5.592 io 5,000 20,000 32,237 2,446 9,950 (6,000) (20,000) {21,354) (2,446) (10,279) 1,000 10,883 329 Total Restrlcted Funds 18.378 75,225 (84,034) 1,329 10.898 Unrestricted Funds General Funds Designated Funds 191.299 570,000 498,76 I (447.038) (46,329) 45,000 196,693 615,000 Total Unrestricted Funds 761,299 498,761 (447,038) (1.329) 811,693 Total Funds 779.677 573.986 (531,072) 822,591 15. ANALYSIS OF CHARITABLE FUNDS - PRIOR YEAR At31 March 2023 At l Aprll 2022 Income Expenditure Transfers Restricted Fvnds Kilimanjaro Account Adult Congenital Fund Cash for Kids clay kits Baby Massage Menta] Health Project Garden Project Caledon Trust - Clark Bear Care Packages M&S Neighbourly - Coaguchek tnachine Cost of Living Crisis Support Ambulatory Monitors Take Ten Apps GTOUlldwork NI- Activity Packs (i) (30) (1,032) (1,074) 2.746 1,032 2,285 14,441 io 2,716 1,211 14.441 io 500 1,000 5.000 6,467 4,400 1,125 (500) (1,000) (5.000) (6,467) (4,400) (1,125) Total Restrict¢d Funds 20.515 18,492 (20.629) 18,378 UnrestrActed Funds General Funds Designated Fullds 200.190 729.000 421,187 (589.078) 159,000 (159,000) 191,299 570,000 Total Unrestricted Funds 929,190 421,187 {589.078) 761,299 Total Funds 949.705 439,679 (609.707) 779,677 Page 22 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - eontinlled FOR THE YEAR ENDED 31 MARCH 2024 15. AIYALYSIS OF CHARITABLE FUNDS (continued) Restricted funds: The Adult Congenital Fund represents fundraising for adults With congenital heart disease. Baby massage represents fimds ieceived from St, James's Place to enable Children's Heartbeat to support parents whose children are born with congenital heart disease with an online baby n]assage COUTse and Tesource booklet. Mental Health Project represents llds received from The Community Foundation "Mentsl Health Fund" towaTds an intensive programtne of mental health focussed workshops foT young people with congenital heart disease. Garden Project represents funds received from HSBC "SuppoTting Our Community Programme" towards a coutyard project at The Royal Belfast Hospltal for Sick Children. Social Justice Small Grants Programme represents fund5 received from The Community Foundation towards a campaign for a Young Patients Fund for Northern treland. Ulster Garden Villages represents funds received towards a Family Support Prograrnme. Building For the Future Project represents funds received frorn the National Lottery Community Fund, Dorn)ant A¢counts Fund NT towards putting strategies in place to enable the charitable Company to be more resilient and prepared for the re. Music Therapy represents fimds received from the Public Health Agency Clear Project to provide group music therapy sessions. Department of Health Carers Fund represents funds received from The Community Foundation towards advice service provision and peer support for carers and young carers of children with Congenital Heart Disease. Designated funds: At the year end the designated element of unrestricted funds is for the following purposes.. Capital Projects Operating ¢osts 350,000 265,000 615 000 16. ANALYSIS OF NET ASSETS BETWEEIY FUNDS Unrestricted FuTJds Restricted Fund5 Total Funds 2024 Fixed assets CUent assets Creditors less than one year 440.863 392,464 21,634) 440,863 429,862 37,398 26.500 At 31 March'2024 811.693 10.898 822,591 Page 23 ontinued..
CHILDREN'S HEARTBEAT NOTES TO THE FINA14CIAL STATEMENTS - continued FOR THE YEAR ENDED 31 hRCH 2024 17. INCOME AND EXPEIYDITURE SUMMARY 2024 2023 Gross income 570,908 439,679 Resource5 expended Costs of generating fiinds Costs of activitie5 for chitable activities Other expenditure 54,603 474,117 60,678 439,342 109,687 609 707 531072 Gainsllosses on investments 27,834 Sutplus/(Deficit) for year 42,914 170,028 The abov¢ reflects the Income and Expenditure account as requiTed by the Companies Act 2006 as opposed to that required under the Statement of Recomrnended Practice as detailed on page I l. Total income comprise8 £470,927 for unrestricted fijnds and £75,225 for restricted fimds. A detsiled analysis of income is provided in the Statement of Financial Activities and note 3. Detailed &nalyses of the expenditure are provided in the Ststernent of Financial Activitie5 and note 4. The Incorne and Expenditure Summary is derived from the Statement of Financial Activities on page I I which together with the notes to the accounts on pages 15 - 24 provides filll information on the movements durirlg the year on all funds of the charity. 18. TAXATION Tbe ChaTity is Te¢ognised as such by HM Revenue and Customs and is entitled to certain tax exemptions on income aDd profits from invgstments, and surpluses on any trading activities carTied on in furtherance of the Charity's primary objectives, if these profit5 or SUTpluses are appljed solely for charitable puryoses. 19. PENSION SCHEME - Defined contribution scheme The company operates a defined contributt.on pension scheme. The pension cost represents contributions payable by the company to the fimd (excluding member salary sacrifice contibutions) and amounted to £4.710 (2023.. £4,472). 20. TRANSACTIONS WITH DIRECTORS AND RELATED PARTIES The Charity was under control of the B0d of Directors througbout tbe ellent and PTevious period. No diTector emolumellts werc paid during the year (2023 - Nil). Thcre were llo rnaterial transactions during the year ID which any diTectOT OT related paty had an inteTest yequiring dis¢losuT¢. Page 24