CHILDREIY'S HEARTBEAT STATEMENT OF FINANCIAL ACTtvtTIES (Incorporating the Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2025 Unrestrieted Funds Restrieted Funds Total Funds 2025 Total Funds 2024 Income from: (note 3) Donations and legacies Charitable actillieS Other trading activities Investments Other 585272 3.174 250 18.982 91J94 676,666 3,174 250 18,982 529,268 3,765 193 10,594 2,332 Total ineome 607,678 91J94 699,072 546,152 Expenditure on: (note 4) Raising funds Charitable activities Other 75,283 394J51 868 75,283 492,781 868 54,603 474,117 2,352 98,430 Total expenditure 470,502 98,430 568,932 531,072 Net gainsl(losses) on investments 1,964 1,964 27,834 Net incomel{expenditure) for the year 135,212 (7,036) 128,176 42,914 Transfers between funds Net movement in funds 135.212 7,036 128,176 42,914 Balances brought fonvard at l April 811,693 10,898 822,591 779,677 Balances carried fonvard at 31 Trlarch 946,905 3,862 950,767 822,591 The income and expenditure summary as required to be disclosed by the Companies Act 2006 is included at note 17. Pagell
CHILDREN'S HEARTBEAT (REGJSTERED NUMBER: N1609449) BALANCE SHEET 31 MARCH 2025 31.0325 31.03.24 Notes FIXED ASSETS Intangible assets Tangible assets Investments 1,765 3.930 691,016 696,71 I 5,413 2,871 432,579 440,863 io CURRENT ASSETS Debtors Cash at bank and in hand 12 18,354 290,677 309.031 13,968 415,894 429,862 CREDITORS Amounts falling due within one year 13 54,975 48,134 I¥JET CURRENT ASSETS 254,056 381728 TOTAL ASSETS LESS CURRENT LIABILITIES 950,767 822,591 FUNDS Restricted funds Unrestricted funds- General funds Unrestricted funds- Designated funds 14 14 14 3,862 331,905 615,000 10,898 196,693 615,000 950,767 822,591 Th¢ financial statcm¢nts havc b¢¢n prcparcd in accordancc with th¢ provisions of Part 15 of thc Compani¢s Act 2006 relating to small companies. The financial statements were auihorised for issue by the Board of Directors on 271111.2025 signed on its behalf by: and were azel Nichola INO'J 2025 11."08."46 GMT) Prof N Rooney- Chairperson H Bradbury - Treasurer The notes fonn part of these financial statements Page 12
CHILDREN'S HEARTBEAT STA TEMENT OF CHANGES tN FUNDS FOR THE YEAR ENDED 31 MARCH 2025 Unrestrieted funds Restricted funds Total funds Balanee at l April 2023 761.299 18,378 779,677 Changes in funds Surplus for year Transfer between funds 51.723 .329 (8,809} 1,329 42,914 Balance at 31 March 2024 811,693 10,898 822,591 Change5 in funds Surplus for year Transfer bem'een ndS 135,212 (7,036) 128,176 Balanee at 31 March 2025 946,905 3,862 950,767 The notes fonn part of these financial statements Page 13
CHILDREN'S HEARTBEAT STA TEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 Notes 2025 2024 Cash flow5 from operating activitie5 Net cash prO.7ded by/(u5ed in) operating activities CFI 119,262 9,660 Cash flows from investing activities: Dividends and inlerest received Purchase of fixed assets Purchase of investments Net cash (used in)Iprovided by investing activities 18,982 (3,060) (260,401) (244,479) 10,594 (404,745) (394,151) Change in cash and cash equivalents in the reporting period (125,217) (384,491) Cash and cash equivalents at the beginning of the reporting period 415,894 800,385 Cash and cash equivalents at the end of the reporting period CF2 290,677 415,894 CFI. Reconciliation of net income/(expenditure) to net cash floiTr from operating activities 2025 2024 Net inCome/(expendire) for the reporting period (as per the slatement of financial activities) Adjustments for: Depreciation charges Amortisation charges Dividends and interest received Unrealised lossl(gain) on investments Increase in debtors Increasel(Decrease) in creditors Net cash (used in)Iprovided by operating activities 128,176 42,914 2,001 3,648 {18,982) 1,964 (4 J86) 6,841 119,262 3,175 3,648 (10,594) (27,834) (259) (1,390) 9,660 CF2. Analysis of cash and cash equivalents 2025 2024 Cash in hand Total cash and cash equivalents 290,677 290,677 415,894 415,894 Page 14
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NATURE OF TRUST Children's Heartbeat is a private company limited by guarantee with charitable status incorporated in Northern Ireland. The charitable company's regislered number and registered office address can be found on the Company Inforniation page. Every member of the charilable company undertakes to contribute such amount as may be required not exceeding £1 to ihe assets of the charilable company in the event of its being wound up while he OT she is a member or w'ithin one year after he or she ceases to be a member. ACCOUNTING POLICIES The principal accounting policies adopied. judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019) (Charities SORP (FRS 102}), the Financial Reporting Standard applicable 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 company. Monetary amounts in these financial statements are rounded to the nearest £1. The charitable company constitutes a public benefit entity as defined by FRS 102. Assets and liabilities are recognised at historical cost or Iransaction value except for the revaluation of investments. Going concern The directors consider that there are no material uncertainties about the charitable company's ability to continue as a going concem therefore the financial statements have been prepared on the going concern basis. Fund accounting The charitable company has various types of funds for which it is responsible and which require separate disclosure. These are as follows: (i) Restricted funds Grants or donations received which are designated by the donor for specific purpose5. Such purposes are within the overall aim of the charity. (li) Unrestricted funds - General funds Funds which are expendable at the di%¢tion of the charity in the furtherance of the objectives of the charity. (iii) Unrestricted Funds - Designated fimds Funds which have been set aside by the charity to act as a contingency to ensure the continuity of service. Designated funds continue to count as part of the unrestricted funds of the charity. Ineome All income has been included in the Statement of Financial Activities and has been recognised when there is entitlement io the income. certainty of receipt and li can be measured reliably. Income from government and other grdnts. whether capital grants or revenue granrs is recognised when the charity has entitlement (o the funds, any perfonnance conditions allocated to the grants have been inel, il is probable the income will be received and the amount can be measured reliably and is not deferred. Investment income is included in the Statement of Financial Activities when receivable. P2ge15 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (eontinued) Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure on raising funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Expendire on charitable activities comprises the cosls of delivering services to the cornrnunity, together with support costs incurred centrally and goNernance costs associated with the govemance arrangements of the charity which are primarily associated with constitutional and statutory requirements. All costs are allocated belween the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. 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 expendire that is directly attributable to preparing the asset for its intended use. Software is amortised on a strdight-line basis over a useful life of 5 years. Tangible fixed assets Tangible assets are stated at cost less accumulated depreciation and any accumulated irnpairnient losses. Cost includes expenditure that is directly attributable to the acquisltion of the assets. Depreciation is provided at the following annual rates in order to write off each asset over its estimated use7 life. Caravans Office equipment 12.50/0 on cost 250/0 on cost Fixed asset investments Investnients are a form of basic financial instruments and are initially recognised at their transaction value and subsequently measured at their fair value a5 at the balance sheet date using the c105ing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The charitable company does not 2¢quire put options. derivatives or other complex financial instrnments. All gains and losses aTe taken to the Statement of Financial Activities as they arise. Realised gains aT]d lo.%ses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired to 5ub5equent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year-end and their Carrying value. Realised and unrealised invcstment gains and losses arc combined in thc Statement of Financial Activities. The main forni of financial risk faced by the charitablc company is that of volatility in cquity maet$ and invcstTncnt markcts duc to wid¢r cconomic conditions, thc 2ttitudc of invcslors to invcstmcnt risk. and thc changcs in s¢ntim¢ni conceming equities and within particular sectors or sub seciofts. Debtors Sundry debtors are r¢¢ognis¢d al the s¢til¢m¢ni amount du¢ afi¢r any trad¢ discount off¢r¢d. Pr¢paym¢nts ar¢ valucd at th¢ amount pr¢paid of th¢ Iransaciion price. Accru¢d incom¢ is includ¢d at th¢ b¢sl ¢stiinat¢ of th¢ amounts r¢¢¢ivabl¢ at th¢ balanc¢ sh¢¢i dale. Page 16 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (eontinued) Creditors Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Financial Instruments The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. 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 pav accrual A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and is available to carry forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date. Operating lease5 The charitable company classifies the lease of premises as an operating lease. The litle to the premises remains with the lessor. Rental charges are charged to the statement of financial activities on a straight line basis over the tenn of the lease. Taxation As a charity, the Trust is not liable to either Income tax or Corporation tax. Signiflcant judgement5 and estimates In preparing these financial statements the directors have made the following judgements.. Determine whether there are indicators of impairnient of the charttable company's tangible a55et5. Factors taken into consideration in reaching such a decision include the economic viability and expected fure financial performance of the asset and the business in general. The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support the%c and thai the cstimatcs remain rcasonabl¢. The key sources of estitnation of uncertainty at the reporting date that have a significant riqk of eau%ing a material adjustment to the carrying amount of assets within the next financial year 15 the level of investment return and performance of the investments. P2ge17 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 INCOME Unrestricted Funds Restricted Total Funds Funds 2025 Total Funds 2024 Donations and legacies Donations CJivc As You Earn CJrantg 571,559 8,538 5,175 585.272 571,559 8,538 96,569 676,666 441,086 5,710 82.472 529 268 91,394 91,394 Charitable activities Carav(In fee5 Sales of merchandise 2,710 464 3,174 2,710 464 3,174 3,765 3,765 Other trading activities Event8 fccq 250 250 193 Investment income Dividends - equities Interest - fixed interest securities Bank interest 4,548 10,252 4,182 18,982 4,548 10,252 4,182 18,982 2,258 4,827 3,509 10,594 Other income Coalition fees 2,332 In the prior year, £441,086 of income from donations related to Unrestricted Funds. In the prior year, £5.71 O of income from give as you earn related to Unrestricted Funds. In the prior year, £7.247 of income from granls related to Unrestricted Funds. EXPENDITURE Unrestricted Restricted Total Funds Funds Funds 2025 Total Funds 2024 Raising funds Generating donations fees Event costs Costs of merchandise Staff costs Investmeni management costs 8.042 6.538 4.205 50,536 5,962 75,283 8,042 6,538 4,205 50,536 5,962 75,283 6,024 2,653 1,774 41,813 2,339 54,603 Charltable activities ATh'areness and infomiation Infomiation resources Merchandise and promotional materials Rcscarch Family support Clark Clinic support Mcntal hcalth programme Can]paigning Strategic development Offi¢¢ running costs Support costs (Not¢ 5) 2,807 l OJ69 4,975 14,958 236,993 11,667 2,807 10,369 4,975 14,958 275,474 16,392 ,939 5,841 851 22,521 277,789 15,915 20,033 6,000 21,354 25,935 75,939 474,117 38,481 4,725 55,219 55,219 29,914 82,673 492,781 29,914 82,668 394J51 98,430 P2ge18 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 EXPENDITURE (continued) Unrestrieted Restricted Total Funds Funds Funds 2025 Tots]l Funds 2024 Other Children's Ambulance 868 868 868 868 2,352 2,352 ANALYSIS OF SUPPORT COSTS Unrestrieted Restricted Funds Funds Total Funds 2025 Total Funds 2024 Support costs Staff costs Staff wcllbcing GDvcrnancc costs (Note 6) Prnfessional fees IT and development Insurance Bank charges 55,849 1,731 8,291 4,490 9,613 2,038 656 55,849 1,731 8,291 4,490 9,613 2,038 661 54,119 6,139 4,064 9,116 1,857 644 82,668 82,673 75,939 ANALYSIS OF GOVERNANCE COSTS Unrestricted Restricted Funds Funds Total Funds 2025 Total Funds 2024 Governan¢¢ Costs Auditor r¢mun¢ralion Training Statutory requiremenls - fees 7,140 1,067 7,140 1,067 84 8391 5,320 716 103 6,139 8,291 STAFF COSTS 31.03.25 31.03.24 Wages and salaries Social security costs Pension costs 242,448 16,414 5,160 213,839 13,485 4,710 264,022 232,034 The average number of employees during the year was 10 {2024: 8). The number of employees whose total employee benefits excluding pension contributions earning over £60,000, classified within bands of £10,000 is as follows= 2025 2024 £60,000 - £69,999 KEY MANAGEMEINT PERSONNEL COMPENSATION Compensation paid to key management personnel in the year to 31 March 2025 was £62,816 (2024.. £59,113). Page 19 continued...
CHILDREIY'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 NET INCOME Net income is stated after chaTging= 31.03.25 31.03.24 Amortisation on intsngible assets Depreciation Auditor4 rcmunciation - for audit scrvi¢cs Operating lease expense 3,648 2,001 7,140 15,419 3,648 3,175 5,320 INTANGIBLE FIXED ASSETS Software COST At l April 2024 18,240 At 31 March 2025 18,240 DEPRECIA TION At l April 2024 Charge for the year 12,827 3,648 At 31 March 2025 16,475 NET BOOK VALUE Ai 31 March 2025 1,765 At 31 March 2024 5,413 io. TANGIBLE FIXED ASSETS Ol£e Equipment Caravans Totals COST At l April 2024 Additions 78,825 78,825 3,060 3,060 At 31 March 2025 78,825 3,060 81,885 DEPRECIATION At l April 2024 Charge for thc year 75.954 2,001 75,954 2,001 At 31 March 2025 77,955 77,955 NET BOOK VALUE Ai 31 March 2025 870 3,060 3,930 Ai 31 March 2024 2.871 2,871 Page 20 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 FIXED ASSET INVESTMENTS l¥lovement in fixed asset listed ini'estmenls 31.03.25 31.03.24 Market value at l April Additions Digp08al8 Revaluation 432,579 323,40.1 (63,002) 404,745 27,834 Market value as at 31 March 691,016 432,579 Investlnents at fair value comprised: 31.03.25 31.03.24 Alternatives Equities Fixcd interest securities Cash held as part of the investment portfolio 97,241 174,202 142,584 276,989 116,623 157,473 123,297 34,186 691,016 432,579 12. DEBTORS: AMOUNTS FALLtNG DUE WITHtN ONE YEAR 31.03.25 31.03.24 Prepayments and accrned income 18,354 13,968 18,354 13,968 13. CREDITORS: AMOUNTS FALLING DUE M'ITHIN ONE YEAR 31.03.25 31.03.24 Accruals Taxation and social security Other creditors 23,126 5,349 26,500 17,027 4,607 26,500 54,975 48,134 P2ge21 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATELIIENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 14. ANALYSIS OF CHARITABLE FUNDS At31 March 2025 At l April 2024 Income & Gains Expenditure Transfers Restricted Funds Adult Congenital Fund Garden Project Ulsler Garden Villages Building For the Future Project Jessie's Fund - Music Therapy The Grace Trnst- caravan upkeep Danske Bank- Coaguchek machines Hospital sardaY Fund- cardiology machines Groundwork Nl - Activiry Packs Halifax Foundation - Summer Blast residential Empowering Young People 3 (5} io io 20.000 49.600 3.000 5,000 2,725 2,(KJo 375 8,694 (20,(M)O) (55,219) (3,000) (5,000) (2,725) {2,0001 (375) {8,694) (1,412) 10.883 5,264 (1,412) Total Restricted Funds 10,898 91.394 (98,430) 3,862 Unrestricted Funds General Funds Designated Funds 196,693 615,000 607,678 (472,466) 331,905 615,000 Total Unrestricted Funds 811,693 607,678 (472,466) 946,905 Total Funds 822.591 699,072 (570,1196) 950,767 ANALYSIS OF CHARIT ABLE FUNDS- PRIOR YEAR 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 Crrants Programme Ulster Garden Villages Building For thc Future Projcct Music Therapy Department of Health Carers Fund 2.716 1.211 14.441 io (2.711) 5.592 (20.033) io 5.(KlO 20.000 32.237 2,446 9,950 (6,000) (20.000) (21.354) (2,446) (10.279) 1,000 10,883 329 Total Restricted Funds 18.378 75.225 (84.034) 1,329 10,898 Unrestricted Funds General Funds Designated Funds 191.299 570,000 498.761 (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 Page 22 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 15. ANALYSIS OF CHARITABLE FUNDS (continued) Restrieted funds: The Adult Congenital Fund represents fijndraising for adults with congenital heart disease. Garden Project represents funds received from HSBC "Supporting Our Community Programme" towards a courtyard project ai The Royal Belfast Hospital for Sick Children. Ulster Garden Villages represents funds received iowards a Family Support Programme. Building For the FUre Project represents funds received from the National Lottery Community Fund, Domiant Accounts Fund NI towards putting strategies in place to enable the charitable company to be more resilient and prepared t.or ihe future. Empowering Young People 3 represents funds received from Ihe National Lottery Community Fund to empower young people with congenital heart disease through peer support networks and improving the Youth Council. Baby massage represents funds received 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 massage course and resource booklet. Mental Health Project represents ndS received from The Community Foundation "Mental Health Fund" towards an intensive programme of menLql healih focussed workshops for young people with congenital heart disease. Social Justice Small Grants Programme represents funds received from The Community Foundation towards a campaign for a Young Patients Fund for Northern Ireland. Music Therapy represents funds received from the Public Health Agency Clear Project to provide group muslc 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 fund5 is for the following purposes- Capital Projcct% Operating costs 330,000 285 0(bO 615,000 16. ANALYSIS OF NET ASSETS BETII'EEN FUNDS Unrestricted Funds Restricted Funds Total Funds 2025 Fixed assets Current assets Creditors less than one year 696,711 278.669 (28.475) 696,711 309,031 (54,975) 30,362 (26.500) At 31 March 2025 946,905 3,862 950,767 P2ge 23 continued...
CHILDREN'S HEARTBEAT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 17. INCOME AND EXPENDITURE SUMMARY 2025 2024 Gross income 699.072 546,152 Resources expended C,osts of aenerating funds Costs of activities for charitable activities Other expenditUTe 75,283 492,781 868 568,932 54,603 474,117 2,352 531,072 Gains/losses on investn]ents 1,964) 27,834 Surplusl(Deficit) for year 128,176 42,914 The above reflects the Income and Expenditure account as required by the Companies Act 2006 as opposed to that required under the Statement of Recommended Practice as detailed on page I l. Total income comprises £607,678 for unrestricted ndS and £91,394 for restricted funds. A detailed analysis of income is provided in the Statement of Financial Activities and note 3. Detailed analyse5 of the expenditure are provided in the Statement of Financial Activities and note 4. The Income 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 full infonnation on the movements during the year on all ndS of the charity. 18. TAXATION The Charity is recognised as such by HM Revenue and Customs and 15 entitled to certain tax exeTnptions on incomc and profits from invcstmcnts, and surplus¢s on any tiading activitics carricd on in furth¢ran¢¢ of thc Charity's primary obj¢ctivcs. if th¢sc piofits or sutpluscs arc appli¢d solcli, foi chatitablc purpos¢s. 19. PENSION SCHEME - Defined contribution he¢ The charitable company operntes a defined contribution nSIOn scheme. The pension cost r¢presents contributions payable by the charity to the fund (excluding member salary sacrifice contributions) and amounted to £5,160 (2024.. £4,710). 20. TRANSACTIONS WITH DIRECTORS AND RELATED PARTIES The Chariry was under Control of the Board of Directors throughout the current and previous period. No dir¢¢tor emoluments were paid during the year (2024 - Nil). There were no material transactions during the in which any th'r¢ctor or relat¢d paty had an inl¢resl r¢quiring disclosure. 21. POST BALANCE SHEET EVENTS After the year end the charitable company agreed to purchase a property at I I l Falls Road for £330,IK)O in order to expand the charity's capacity to further ils purp)ses. Page 24