Northern Ireland ChestHeart&stroke
ShbkL
Northern Ireland Chest, Heart & Stroke
(Company Limited by Guarantee)
Financial Statements
For the year ended 31 March 2023

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Members of the Board & Professional Advisers
Registered Charity Name
Northern Ireland Chest, Heart & Stroke
Charity Number
NIC 103593
Company Registration Number
Nl 018889
Registered Qffice
21 Dublin Road
Belfast
BT2 7HB
Directors
Professor MPS Varma - Chair
Mr J Collins- VI￿-Chair
Mr l Lindsay - Hon Treasurer
Ms C Donnelly
Mr J Scholes
Mr T Earley
Dr B Gallen
Dr C Wilson
Prof M Shields
Mrs T Craig
Secretary
Mr D Cunnane
Investment Managers
Evelyn Partners
13th Floor
3 Bedford Square
Belfast
BT2 8BG

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Members of the Board & Professional Advisers (continued)
Bankers
Bank of Ireland
Belfast City Branch
Belfast
BT12BA
Santander Corporate Banking
Bridle Road
Bootle
Merseyside
L30 4GB
Ulster Bank
11-16 Donegall Square East
Belfast
BT15UB
The Charity Bank Ltd,
Fosse House,
182 High Street,
Tonbridge
TN9 1BE
Solicitors
Elliott Duffy Garrett
40 Linenhall Street
Belfast
BT2 8BA
Auditors
Moore {N.I.) LLP
Chartered Accountants and Registered Auditors
Donegall House
7 Donegall Square North
Belfast
BT15GB

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Contents
Pages
Strategic Report
Trustees. Annual Report
6-11
Report of the independent auditors to the members
12-14
Statement of financial activities (incorporating the income
and expenditure account)
15
Balance sheet
16
Cash flow statement
17
Accounting policies
18-19
Notes to the financial statements
20-25

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
strategic Report
The Trustees, who are also Directors for the purposes of company law, present their strategic report for the year
ended 31 March 2023.
Objectives & Activities
The objects of the Charity are to promote the prevention of and alleviate the suffering resulting from chest, heart and
stroke illnesses in Northem Ireland, and in particular..
1. To work either alone or with others for the prevention of chest, heart and stroke illnesses,.
2. To educate the public on all matters concerning the said illnesses and to initiate and encourage programmes
of prevention and health promotion.,
3. To carry out, promote or sponsor the carrying out of study and research into such illnesses and to publish
the results of such study and research.,
4. To relieve distress occasioned by chest, heart and stroke illnesses.
The public benefits that flow from these objectives and activities include=
1. An improved quality of life, and an improvement in the health and wellbeing of people affected by chest, heart
and stroke illnesses in Northern Ireland.,
2. A decrease in the number of instances and a decrease in the number of deaths related to chest, heart and
stroke illnesses.,
3. An improved public awareness of the risks associated with developing a chest, heart or stroke illness in
Northern Ireland.
Our Mission: Leading the fight against chest, heart and stroke illnesses in Northern Ireland.
Our Vision:
A Northern Ireland free from chest, heart and stroke illnesses.
The Trustees are very conscience of the geographical spread of our services throughout Nl and that we are reaching
the areas of greatest demand. We cover three distinct disease areas and appreciate that providing invaluable
services in the communities continues to be unique to our Charity.
Financial Review and Results for the Year
During the year ended 31 March 2023 the charity had net expenditure on its financial activities of £48,881. This
deficit was after an unrealised loss, arising from the decrease in market value of investments during the year of
£150,626. The Trustees consider this to be a reasonable outcome given the current economic environment.
Total income has decreased slightly to £4,091,115 (2022-. £4,191,360). The Charity is very appreciative of the
continued h'igh level of legacy income during 2023 in excess of £1.5m. Our level of other voluntary donations has
increased during the year totalling £1,682,320 (2022.. £1,465,528). Our Charity continues to be very thankful to the
public for their continued support as over 90 % of our income comes from donations.
Total expenditure by the charity has increased significantly to £4,136,996 (2022.. £3,363,251). This increased
expenditure is directly linked to the increased level of our charitable activities after Covid-19 with both our Care
Services and Prevention activities increasing.
Risk Management
Risk is an everyday part of charitable activity. The Trustees have identified the major risks to which the charity is
exposed and were assured that adequate systems and procedures have been put in place in order to mitigate or
manage those risks. This has been achieved by identifying, assessing and evaluating risks using a Risk Framework
and regular monitoring and assessment of risk management by the Audit and Risk Committee.
. BY ORDER OF THE TRUSTEES
DECLAN CUNNANE FCA
COMPANY SECRETARY
Date..

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Trustees, Annual Report
The Trustees, who are also Directors for the purposes of company law, present their report and the financial
statements of the charity for the year ended 31 March 2023. The Trustees confirm that they comply with the
requirements of the Charities Act (Northern Ireland) 2008 and Accounting and Reporting by Charities- Statement of
Recommended Practice which applies to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)-
Reference & Administrative Details
Referen￿ and administrative details are shown in the schedule of members of the Board and professional advisers
on page 2 - 3 of the financial statements.
The Directors
The Directors who served the charity during the period were as follows:
Professor MPS Varma
Mr J Collins - Vice-chair
Mr l Lindsay- Hon Treasurer
Ms Christine Donnelly
Mr J Scholes
Mr T Earley
Mr B Gallen
Dr C Wilson
Prof Mike Shields
Mrs T Craig (appointed 1511212022)
Chair
Company Secretary
Mr Declan Cunnane FCA
Structure, Governance & Management
The Charity is governed by Articles of Association which were first adopted on 17 October 2012. These Articles were
revised at that time to take account of the Charities (Nl) 2008 Act and the Companies Act 2006. They were
subsequently amended at the last General Meeting of the Company held on 15 De￿mber 2022 to adopt changes
proposed including the number of members required for a quorum at an AGM.
The Governance Board is responsible for the overall governance of the charity. Directors are either elected or co-
opted and the total number of Directors may not exceed eleven or be less than five. Elected Directors may remain
in office for nine years but an extension beyond this may be given if one is an office holder. Co-opted Directors are
appointed by the Governance Board and shall hold office only until the next Annual General Meeting.
The Board delegates the exercise of certain powers in connection with the management and administration of the
charity to the Finance Committee, the Audit & Risk Committee and to the Scientific Research Committee. This is
controlled by regular reporting back to the Board, so that all decisions made under delegated powers are ratified by
the full Board. However, it means thatthe Governance Board is not compelled to analyse and discuss every decision.
Recommendations from each Committee are made to the Board. The Finance Committee and Audit & Risk
Committee meet every three months in addition to a quarterly Board meeting. The Scientific Research Committee
meets at least once a year.
An operational plan and budget for 2023124 were approved by the Board on 28 March 2023. Expansion of services
during 2023124 is key to the new three-year Strategic Plan (2023-26) which was also approved by the Board in March
2023. together with key milestones and success measures to demonstrate the impact of our charitable activities and
the real difference these make to the lives of people in Northern Ireland.
Chief Executive
The Chief Executive is responsible for the day to day management of the affairs of the charity and for implementing
the policies and operational plans as agreed by the Governance Board. Between meetings ofthe Governance Board,
the Chief Executive reports to the Chairman. The Chief Executive is assisted by a group of senior managers - the
Strategic Leadership Team (SLT), which includes the Deputy Chief Executive, the Director of Public Health, the
Director of Care and the Director of Income Generation.

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Trustees, Annual Report (continued)
Strategic Leadership Team (SLT)
Collectively these 5 individuals are known as the Strategic Leadership Team {SLT). The performance of the 3
Directors and the Deputy CEO is appraised annually by the CEO whilst the CEO'S performance is also appraised
annually by the Chairman and a small number of the other Trustees. Annual Appraisals are undertaken at the year-
end but there are also regular meetings throughout the year to discuss the performance of these key personnel
against agreed objectives.
Salaries of all staff are aligned to the NJC Scales, where staff will receive an annual inflationary uplift in line with the
NJC Scales. Staff have the option to join the Company Pension plan or Nest, to save for their retirement. The Charity
will make Employer contributions at varying percentage levels in addition to employee contributions. A new Salary
Sacrifice scheme was intrOdU￿d during the year via Royal London and most staff have availed of this pension
arrangement.
Group Structure
The charity has two wholly owned subsidiaries..
Nl Chest Heart & Stroke Enterprises Limited
This company was formed to carry out non-charitable trading activities for the Charity, but it has not traded forseveral
years. The Company reported a small loss of £119 (2022: loss of £64) for some administrative costs.
Nl Chest Heart & Stroke Home Care Support Services Limited
This company was contracted to provide home care services on behalf of Sperrin & Lakeland Health & Social Care
Trust but is no longer providing these services as the Contract has ended. The Company reported a loss of £113
{2022 loss of £100} for some administrative costs.
Sub Committees
The 3 sub-committees of Northern Ireland Chest, Heart & Stroke are:
Finance Committee
Audit & Risk Committee
Scientific Research Committee
The Audit & Risk Committee commissions an internal audit to provide the Board and management with an
independent objective opinion on risk management, control and governance. During the year ended 31 March 2023
the Internal Auditors (ASM) undertook a detailed look at both Income Generation and Communication & Marketing
functions and both areas were satisfactory. ASM have been appointed for a 3-year term and they will review other
specific areas over the next year to report on the management controls and risk management in place. The Audit &
Risk Committee currently consists of five people, three Board members and two non-Board members who are
independent from the Governance Board.
Trustee Selection, Appointment & Competence
When a vacancy exists on the Boardlcommittees, the office bearers and the Chief Executive identify the skill gaps
and seek to identify an individual who can meet those needs. Discussions have been held by members of the Board
and interested individuals to ensure that potential new appointments are made, and succession issues kept under
review. Trustees (other than the 3 office bearers) must resign after 9 consecutive years in office and Ms Christine
Donnelly offers herself for resignation at this year's AGM having served that length of time on the Board. When a
new Board Member is co-opted onto the Board they can attend meetings and observe before being formally
appointed at the next AGM as a Director and Trustee. New Trustees have an Induction process where they receive
the key documents of the Charity and meetwith the CEO and other Board members to startto getfuller understanding
of the Charity and what their role involves.
Competencies
The Directors include individuals with expertise in cardiology, stroke and respiratory disciplines. In addition, there is
a senior director from the private sector in an engineering environment, and a chartered accountant. Tara Craig was
recently appointed to the Board to support the Communication & Marketing activity. There are 2 Independent
members who sit on the Audit & Risk sub-committees but are neither Trustees or Directors.

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Trustees, Annual Report (continued)
Scientific Research Committee
Nearly every year, we award Research Grants to local Universities and the assessment of the quality and value to
NICHS of the various research projects is undertaken by the Scientific Research Committee. We were delighted that
. Prof Martin McKee agreed to Chair this Committee during 2022 and we are very proud of the quality of members on
this Committee which continues to support our interest in Research.
Role of the Counc51
The Council constitutes the members of the organisation who are responsible for electing the Governance Board,
for re￿[VIng the annual report and accounts of the organisation from the Governance Board and for electing the
auditors. There are currently 15 individual Council members (who include the 10 Directors of the Company)-
External Audit
Moore (N.1) LLP act as our External Auditors following their successful appointment after a tender pro￿sS. They will
act for at least the tender period, which commences with the year ended 31 March 2020 audit, and runs out after the
year ended 31 March 2024 audit.
Internal Audit
ASM werè appointed to provide an internal audit service for the 3 years commencing 31 March 2021. To date they
have undertaken Internal Audits and both have been satisfactory.
As Internal Auditors, ASM perform an internal risk assessment which will assess the inherent risk and strength of the
control environment. ASM then prepare the internal audit plan each year based on the risk assessment and
consultation with relevant members of management and the Audit & Risk Committee. Each year there is a Risk
Management Workshop which helps identify the key risks facing the Charity.
The annual internal audit plan is prepared using a rotation-based approach where auditable units are subject to
internal audit annually or less frequently based on risk. The internal audit risk assessment and plan is submitted
annually to the Audit & Risk Committee for approval. The internal audit risk assessment and plan may be varied
based on ASM findings, events or management requests and after consultation with relevant members of
management or the Audit & Risk Committee to consider all pertinent matters.
The Intemal Audit work will be performed in accordance with the ASM internal audit methodology, which is aligned
to the Institute of Internal Auditors International Standards for the Professional Practice of Internal Auditing. Following
execution of each Internal Audit assignment, ASM will issue a draft and then a final written report which will include
a rating foreach finding based on the audit findings assessmentframework. The final Internal Audit reportwill include
management's comments and plans for addressing audit findings. A tracking process and following up of actions to
address findings will also be undertaken.
Investments Portfolio
The investment portfolio is managed by Evelyn Partners (formerly known as Smith & Williamson) who have been
advised that the charity's primary aim is to preserve the capital value of investments against inflation with income
generation and capital gain, being of secondary importance.
Consequently, the Trustees and Evelyn Partners have agreed a low to medium risk spread of investments. The
Trustees have also instructed their advisors not to invest in any company, organisation or fund with links to the
tobacco or petro-chemicals industry. The Investment Policy & Strategy is updated annually following discussion with
the Finance Committee and this was most recently updated on 23 May 2023.
The performance of the investments is monitored quarterly by the Finance Committee through comparison with
range of standard indicators. Members of the Finance Committee also meet with Evelyn Partners twice a year to
review the Portfolio performance.

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Trustees, Annual Report (continued)
Achievements & Performance
During this financial year 2022123 we agreed a new Strategic Plan for the Charity for the 3 years ended 311312026.
The Strategic Plan is aimed at expanding our charitable activities primarily within our Care Services and Public Health
Departments. The demand for our services and the need for our work has never been greater as there are 470,000
people in Northern Ireland living with chest heart & stroke conditions. Our activities continue to rely predominantly on
donations from the public and for this we are very grateful.
During the year ended 311312023 we supported almost 24,000 people and organisations with our wide range of Care
and Health Promotion services.
Care Services
Over the past year, we have helped almost 3,000 people and their families to adjust to life with a chest, heart or
stroke condition. We have enabled them to improve their independence, confidence and overall quality of life by
supporting them in their individual rehabilitation journey.
In summary 1,042 people were referred to our stroke servI￿s, 282 people to our respiratory servI￿s, 204 people
with heart conditions and 120 carers were supported on our Carers, Education Programme. 1,643 families were
visited under Family Support, 345 people attended our Post Rehab Exercise Programme (PREP) and 2.19 attended
our Taking Control Self-management Programme. All these Care SeNices are provided to help people on their own
individual recovery journeys. Unfortunately, the demand for our Care services continues to increase and we have
had to recruit more staff to try to meet this increasing demand. We engage with people and their families in
communities and are there for people to support their recovery process.
Health Promotion and Prevention Services Im
act
We provided targeted services to workplaces, communities and schools to help detect early signs of chest, heart &
stroke illness and empower individuals to make healthy choices. In total 20,913 adults and children benefitted from
our targeted health promotion services.
During 2022123 we delivered
Health Checks to 6,447 people encouraging the recipients to make healthy lifestyle changes and signposted
some of them to their GP"
Health Promotion in the Workplace to 7,943 employees across 60 workplaces and in so doing trained 145
Health Champions;
Health Promotion in 57 Schools where 5,891 parents and young people benefitted from our health education
programmes.,
Our Health & Homelessness Service where 38 hostels were supported. This also benefitted 374 staff and
residents of the hostels.
Research
Research is vital to the work we do in the fight to prevent chest, heart and stroke conditions. There are currently 14
live Research projects. After a pause in our Research Grant allocation during the 2021 Covid pandemic year, we
provided funding for 9 new projects totaling £638,522 following the submission of high quality research projects during
the year ended 311312022. Prior to making a funding offer these projects need to be peer reviewed and there is a
detailed quality led selection process required in assessing all funding applications.
A special thanks to the members of our Scientific Research Committee who reviewed the various grant applications.
Cam
ai
nin
& Lobb
in
Some of the areas that we have continued to lobby local representatives and Government to introduce health policies
and changes in legislation on, include the reform of Stroke Services, childhood obesity, air quality and hospital waiting
lists. We finally saw a ban on smoking in cars carrying children brought into force.
Plans for future periods
NICHS'S Strategic Plan {2023 - 2026) sets out how we want to make a positive difference and impact on the lives of
people in Northern Ireland. While our priorities have not changed, our Strategic Plan for the next 3 years (2023-2026)
will provide detail on how we plan to increase our service offering to meet the local needs. We still aim to

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Trustees, Annual Report (continued)
contribute to a 250/0 decrease in the number of deaths from preventable chest heart & stroke illnesses in Northern
Ireland-
double the number of people who will benefit from our care and prevention services.
Volunteers
Volunteers within Northem Ireland Chest Heart and Stroke are immensely important in the delivery of our services.
As such they are involved in every aspect of what we do and are crucial to connect us to local communities. Roles
are diverse and include a wide variety such as Governance Board members, care services support and fundraising
ambassadors. NICHS ambassadors exist to raise awareness of NICHS within local communities and office-based
volunteers support departments with various administration tasks.
After the difficult Covid-19 year, it was great to see many of our dedicated volunteers returning to help us deliver our
face to face care services in the community and support our events including our Red Dress Run which attracted
over 800 people on the day. Without their support we could not deliver what we do, and we are very grateful for this
much needed help.
Supporters
The generosity of individuals and companies across Northern Ireland continues to be the cornerstone of our income
generation at NICHS. We would like to thank each and every one of our supporters. Your commitment to supporting
our life enhancing services and life-saving research is inspirational.
Some Corporates have also supported us during the year to provide gifts in kind and again we would like to
acknowledge Balloo Hire for their continued generous support.
Income
Voluntary income recovered well during 2022123, with a noted increase in donations from community, and
corporate sources. The number of legacy gifts were also considerably up on previous year, with 94 gifts left in wills,
accounting for over half of total income. Almost 90 % of our services are funded by public donations so we are
extremely grateful to the public for their commitment and ongoing support.
During the year we also received funding from several Trust and Foundations whom we would like to acknowledge
including The Lightbody Foundation, ARN Foundation, Ardbarron Trust, The Magill Foundation, NIE Networks Staff
and Pensioners Charities Fund, The Lorimer Trust, Lady Dunleath Charitable Trust, Ardfoyle Trust, Darragh
Foundation, Black Santa Sit out appeal and Talent Trust.
Other Income
The charity continues to receive valuable rental income from an advertising screen and ATM machine at the premises
on Dublin Road. Belfast.
Unrestricted Reserves
The charity's reserves policy is to maintain a level of resources which matches the needs of the organisation both at
the current time and in the foreseeable future. The reserves required should be sufficient to cover funds invested in
land and buildings plus six months unrestricted expenditure.
Our reserves as at 31 March 2023 exceed this level by £3,587,599 (2022.. £3,750,149) mainly as a consequence of
better than expected receipts from legacies during the last few years.
The Trustees have agreed to increase our charitable expenditure over the next 3 years in a measured and targeted
fashion, in line with the priorities set out in our Strategic Plan and costed in our annual budget. Our Impact Framework
Model assists us in ensuring that expenditure is targeted at areas that create the biggest impact. The Trustees are
also conscience of the geographical spread throughout Nl of our services and that we are reaching the areas of
greatest demand. We cover three distinct disease areas and appreciate that providing invaluable services in the
communities Continues to be unique.
Investments
The charity engages Evelyn Partners (formerly Smith & Williamson) to manage a discretionary investment portfolio.
10

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
.Trustees' Annual Report Icontinued
As at 31 March 2023 the market value of investments had increased to £5,024,923 (2022.. £4,166,393). During the
year there was an overall loss in value of investments but there are no current plans to realise this loss. It is anticipated
that over the next 3-5 years this value will recover. No investment is made in any company or organisation which
has links to the tobacco and petro-chemical industries or which is otherwise in conflict with the ethos and aims of the
charity. During 2022123, further funds were transferred into the investment portfolio as the return was anticipated as
being more than the funds held on deposit with banks.
The approximate gross annual income from the portfolio is £98,536 (2022: £73,325). This portfolio provides a steady
annual income stream, but the main purpose is the preservation of capital.
Pensions
The charity operates a defined contribution pension scheme for the benefit of its permanent staff who wish to
participate in it. The assets are administered by insurance companies in personal pension plans and are held
independently from those of the charity. The Charity also provides a NEST scheme which staff may wish to
participate in. Contributions are charged to the Statement of Financial Activities in the period to which they relate.
The Charity is auto enrolment compliant.
Results
The results for the year and the charity's financial position at the end of the year are shown in the attached financial
statements.
Responsibilities of the Directors
The Directors are responsible for preparing the Directors, Annual Report and the financial statements in accordance
with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the
Directors have elected to prepare the financial statements in accordance with United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice). The financial statements are required by law to give a
true and fair view of the of the charity and of the surplus or deficit of the charity for that period.
In preparing these financial statements, the Directors are required to..
Select suitable accounting policies and then apply them consistently-,
Make judgements and estimates that are reasonable and prudent,.
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in operation.
The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any
time the financial position of the charity and which enable them to ensure that the financial statements comply with
Companiés Act 2006. The Directors are also responsible for safeguarding the assets of the charity and hence for
taking reasonable steps for the prevention and detection of fraud or any other irregularities.
In so far as the Directors are aware:
There is no relevant audit information of which the charity's auditors are unaware., and
The Directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit
information and to establish that the auditors are aware of that information.
Auditor
A resolution to appoint auditors following a competitive process will be proposed at the Annual General Meeting.
BYORDER OF THE DIRECTORS
DECLAN CUNNANE FCA
COMPANY SECRETARY
Date..

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Independent Auditor's Report to the Members of Northern Ireland Chest Heart & Stroke
Opinion
We have audited the accounts of Northern Ireland Chest Heart & stroke for the year ended 31 March 2023 which
comprise the Statement of Financial Activities, the Balance Sheet. the Statement of Cash Flows and the notes to the
accounts, including a summary of significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting Practice).
Opinion on Financial Statements
In our opinion..
give a true and fair view on the state of the charitable company's affairs as at 31 March 2023 and of its
incoming reSoUr￿S and application of resources including its income and expenditure for the year then
have been properly prepared in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).,
have been prepared in accordance with the requirements of the Companies Act 2006
Basis for opinion
We Conducted our audit in accordan￿ with International Standards on Auditing (UK) (ISAS {UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the
accounts section of our report. We are independent of the Trust in accordance with the ethical requirements that are
relevant to our audit of the accounts in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other
ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report
to you where..
the Trustees, use of going concern basis of accounting in the preparation of the accounts is not appropriate.,
or
Trustees have not disclosed in the accounts any identified material uncertainties that may cast significant
doubt about the Trust's ability to continue to adopt the going concern basis of accounting for a period of at
least twelve months from the date when the accounts are authorised for issue.
Other information
The other information comprises the information included in the annual report, other than the accounts and our
auditor's report thereon. The Trustees are responsible for the other information. Our opinion on the accounts does
not cover the other infomiation and, except to the extent othemise explicitly stated in our report, we do not express
any form of assurance conclusion thereon.
In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the
audit or otherwise appears to be materially misstated. Ifwe identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in the accounts or a material
misstatement of the other information. If, based on the work we have performed, we conclude that there is a material
misstatement of this other infonnation, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit=
the information given in the Trustees, Report for the financial year for which the accounts are prepared is
consistent with the accounts-, and
the Trustees, Report has been prepared in accordance with applicable legal requirements.
12

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Independent Auditor's Report to the Members of Northern Ireland Chest Heart & Stroke
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Trustees and its environment obtained in the course of the
audit, we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires
us to report to you if, in our opinion..
accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us,. or
the accounts are not in agreement with the accounting records and returns., or
certain disclosures of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Statement of Trustees, Responsibilities, the Trustees, are responsible for the
preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as
the directors determine is necessary to enable the preparation of accounts that are free from material misstatement,
whether due to fraud or error.
In preparing the accounts, the Trustees are responsible for assessing the Trust's ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting
unless the Trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but
to do so.
Auditor's responsibilities for the audit of the financial ststements
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable
assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK)
will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these accounts.
Irregularities. including fraud, are instances of non-complian￿ with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit in respect of fraud, are to identify and assess the risks of material misstatement of the
financial statements due to fraud,. to obtain sufficient appropriate audit evidence regarding the asspssed risks of
material misstatement due to fraud, through designing and implementing appropriate responses to those assessed
risks- and to respond appropriately to instsnces of fraud or suspected fraud identified during the audit. However, the
primary responsibility for the prevention and detection of fraud rests with both management and those charged with
governance of the Charity.
Our approach was as follows:
We obtained an understanding of the legal and regulatory requirements applicable to the Charity and
considered that the most significant are the Companies Act 2006 and the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2015) - (Charities SORP (FRS
102)
Enquiry of management, those charged with governance and the entity's solicitors around actual and
potential litigation and claims.
Enquiry of entity staff in compliance functions to identify any instances of any non-compliance with laws and
regulations.
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance
with applicable laws and regulations.
13

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Independent Auditor's Report to the Members of Northern Ireland Chest Heart & Stroke
Auditing the risk of management override of controls, including through testing journal entries and other
adjustments for appropriateness, and evaluating the business rationale of signiflcant transactions outside
the nomial course of business.
As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain professional
scepticism throughout the audit. We also=
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit prO￿dureS that are
appropriate in the Circumstan￿5, but not for the purposes of expressing an opinion on the effectiveness of
the company's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures made by the directors.
Conclude on the appropriateness of the directors, use of the going concern basis of accounting and, based
on the audit evidence obtained, whether a material.uncertainty exists related to events or conditions that may
cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditorfs report to the related disclosures in the
financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based
on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions
may cause the company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that
achieves fair presentation.
A further description of our responsibilities forthe audit of the accounts is located on the Financial Reporting Council's
website at.. http:Ilww.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing
of the audit and significant findings, including any significant deficiencies in internal control that we identify during our
audit.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordan￿ with Chapter 3 of Part 16
of the Companies Act 2006 and regulations made under that Act. Our audit work has been undertaken so that we
might state to the charitable company's members those matters we are required to state to them in an auditors, report
and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the charitable company and its members as a body, for our audit work, for this report, or for the opinions
we have formed.
Dated:
Donegall House
7 Donegall Square North
Belfast
Dr. R I Peters Gallagher OBE FCA (Senior Statutory Auditor)
for and on behalf of Moore (N.I.) LLP, Statutory Auditor
Chartered Accountants
BT15GB
14

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Statement of financial activities (incorporating the income and expenditure account)
Note
Unrestricted
Funds
2023
Total
Funds
2023
Unrestricted
Funds
2022
Totsl
Funds
2022
Income and endowments from:
Donations and legacies
Income from investments
Income from charitable activities
3,253,860
112,787
724,468
3,253,860
112,787
724,468
3,492,853
74,655
623,852
3,492,853
74,655
623,852
Total income and endowments
4,091,115
4.091,115
4,191,360
4,191,360
Expenditure on:
Expendilure on raising funds
Expenditure on charitable activities
1,022.826
3,114,170
1,022,826
3,114.170
874,963
2,488,288
874,963
2,488,288
Total resources expended
4,136,996
4,136.996
3,363,251
3,363,251
Net incomel(expenditure)
(48,881)
(48,881)
828,109
828,109
Other recognised gainsl{losses)
Net gainsl(losses) on investments
150,626
150,626
52.202
Net movement in funds
196,507
196,507
880,311
880.311
Total funds brought fotward
6.356,403
6.356,403
5,476.092
5,476,092
Total funds carried forward
6,159,896
6,159,896
6.356,403
6,356,403
The Statement of Financial Activities includes all gains and losses in the year and therefore a
Statement of Total Recognised Gains and Losses has not been prepared.
All of the above amounts relate to continuing activities.
The accompanying accounting policies and notes form part of these financial statements.
15

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Balance sheet
2023
2022
Fixed assets
Tangible assets
Investments
Note
822.580
5,030,023
856,537
4,171,493
5.852,603
Current assets
Debtors
Cash al bank and in hand
5,028,030
11
109,034
1,988,525
113.066
2.811,891
2,097.559
2,924,957
Creditors: amounts falling due within one year
Net current assets
12
(656,773)
(473,909)
1,440,786
2,451,048
Total assets less current Iliabilitiesyassets
7.293.389
7,479,078
Creditors: amounts falling due after more than one year
(1,133,493)
(1,122,675)
Net assets
6,159,896
6,356.403
Funds
Unrestrl￿ed income funds
14
6,159,896
6.356,403
Total funds
6,159,896
6.356.403
These financial statements were approved by the Directors on 14 December 2023 and are signed on their behalf by:
lan Lindsay (Treasurer)
Professor MPS Varma (Chair)
Company Registration Number.. N1018889
The accompanying accounting policies and notes form part of these financial statements.
16

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Statement of Cash Flows
2023
2022
Note
Cashflovrfs from operating activities
Cash generated from operations
90.744
1,395,345
Net cash inflow from operating activilies
go,744
1,395,345
Investing. activities
Investment income
Purchase of tangible fixed assets
Acquisition of inveslmenls
Disposal of investments
Net monies transferred to client monies account less fees
112,787
74,929
{17,741)
(21,830)
{1,237,644) (2,239,365)
193,304
789,015
35,184
430,086
Net cash from investing activities
(823,366)
428,180
In¢reasel{decrease) in cash and cash equivalents in the
year
Cash and cash equivalents at the beginning of the year
1823,366)
428.180
2,811.891
2.383.711
Cash and cash equivalents at the end ofthe year
1,988,525
2.811.891
Relating to:
Cash at bank and in hand
1,988,525
2,811,891
The accompanying accounting policies and notes form part of these financial statements.
17

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Accounting Policies
Basis of Accounting
The financial ststements 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 which applies in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP
(FRS 102>), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) and the
Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the charity- Monetary amounts
are rounded to the nearest £.
Consolidation
The charity has taken advantage of the exemption provided by Section 405(2) of the Companies Act 2006 not to
prepare group accounts.
The Trustees do not consider the cost of preparing consolidated accounts justifiable and note 10 provides adequate
details relating to the nature of the trading subsidiaries.
Income recognition
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the
item(s) of income have been met. it is probable that the income will be received, and the amount can be measured
reliably.
The principal source of income comprises voluntary donations and legacies. Other income includes income from
listed investments and grants received from health boards.
Interest Receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably-, this is
normally upon notification of the interest paid or payable by the Bank.
Resources Expended
All expenditure is accounted for on an accruals basis and is classified under headings that aggregate all costs related
to the category.
Fundraising costs include the costs of advertising, producing publications, printing and mailing fundraising material,
and staff costs in these areas.
Costs of charitable activities include direct expenditure incurred through the provision of research grants and
operational activities. Research grants are recognised as expenditure at the time of approval when the recipient is
notified of the grant.
Governance costs represent the costs associated with the governance arrangements of the charity which relate to
the general running of the charity as opposed to those costs associated with fundraising or charitable activity.
Fixed Assets
All tangible fixed assets are recorded at cost. Listed investments are stated at market value.
Depreciation
Depreciation is calculated to write off the cost of an asset, less its estimated residual value, over the useful economic
life of that asset as follows..
Health Equipment
Fixtures & Fittings
Motor Vehicles
Leasehold Propety
Computer Equipment
100/0 Straight line
10 % straight line
20 % straight line
2.5 % straight line
25 % straight line
18

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Accounting Policies (continued)
Repairs & Renewals
All repairs and renewals are written off as incurred.
Pension Costs
The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held
separately from those of the charity. The annual contributions payable are charged to the statement of financial
activities.
Investments
Realised gains and losses on investments are calculated as the difference between sales proceeds and their market
value at the start of the year, or their subsequent cost, and are charged or credited to the statement of financial
activities in the year of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged
to the statement of financial activities based on the market value at the year end.
Debtors
Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are
valued at the amount prepaid net of any trade discounts due.
Creditors & Provisions
Creditors and provisions are recognised where the charity 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. Creditors and provisions are normally recognised at their settlement amount after allowing for
any trade discounts due.
Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic
financial instruments are initially recognised at transaction value and subsequently measured at their settlement
value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest
method.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds.
Fund Accounting
Unrestricted funds are general funds that are available for use at the Trustees, discretion in furtherance of the
objectives of the charity.
Designated funds are unrestricted funds set aside by the trustees out of unrestricted general funds for specific future
purposes.
Restricted funds are those given for use in a particular area or for specific purposes, the use of which is restricted to
that area or purpose.
Reserves Policy
Unrestricted funds are needed to provide funds which can be applied to specific projects to enable these projects to
be undertaken at short notice and to cover the running costs of the Charity for a limited period, should there be a
significant shortfall in projected income.
The Trustees consider it prudent that unrestricted reserves should be sufficient to avoid the necessity of realising
fixed assets held for the charity's use and to cover six months unrestricted expenditure. The level of unrestricted
funds needed for these purposes are shown as designated funds.
19

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Notesto the Financial Statements .
Donations and legacies
Unrestricted Totsl Funds
Funds
2023
Total Funds
2022
Donations
Voluntary Donations
1,682,230
1.682.230
1,465.528
Legacies
Legacies - unrestricted
1,571,540
1,571,540
2,027,325
3,253,860
3.253,860
3,492,853
Income from investments
Unrestricted Totsl Funds
Funds
2023
Total Funds
2022
Income from UK lisled investments
Income from cash
98,536
14,251
98,536
14,251
73,325
1,330
112,787
112,787
74,655
Income from charitable activities
Unrestricted
Funds
Total
Funds
2023
Total Funds
2022
Other income from provision of Health services
Other charitable income
Income from health trusts
268,258
35,250
420.960
268.258
35,250
420,960
199,974
15,250
408,628
724.468
724,468
623,852
Expenditure on raising funds
Unrestricted Total Funds
Funds
2023
Totsl Funds
2022
Appeal costs
Support costs
930,147
92,679
930,147
92,679
794,648
81,315
1,022,826
1,022,826
874,￿3
20

Northern Ireland Chest, Heart & stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Notes to the Financial Statements (continued)
Expenditure on charitable activities by fund type
Restated
Total Funds
2022
Unrestricted
Funds
Totsl Funds
2023
Stroke services
Research
Primary Prevention
Advocacy
Cardiac services
Respiratory servi￿$
1,242,258
510.670
609,488
250,086
144.125
346,060
1,242,258
510,670
609,488
250,086
144,125
346.060
805,559
691.882
427,205
175,660
87,067
292,515
3,102,687
3,102,687
2,479,888
Governance costs
11,483
11.483
8,400
3,114,170
3,114.170
2,488,288
Net (outgoing)lincoming resources for the year is stated after charging:
2023
2022
Staff pension contributions
Depreciation
Auditors, remuneralion..
External Audit setvices
Internal Audit SeNices
133,406
51,698
61,009
48.431
4,000
7,483
3,800
4.600
196,587
117,840
Staff costs and emoluments
Total staff costs were as follows..
2023
2022
Wages and salaries
Social security costs
Other pension costs
2,341.054
205.037
133,406
1,779,570
170,895
61,009
2,679,497
2,011.474
Particulars of employees..
The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows=
2023
2022
Number of staff
79
68
The number of employees whose remuneration for the year fell within the following bands were..
£60.000 to £69,999
£70.00010 £79,999
£80,000 to £89.999
The key management personnel of the charity comprise the Directors. Chief Executive, Deputy Chief Executive and the Senior
Management Team. The total employee benefits of the key management personnel of the charity were £263,546 (2022..
£288.1281
21

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Flnancial Statements for the year ended 31 March 2023
Notes to the Financial Statements (continued)
Tangible fixed assets
Computer
Health Fixtures &
Equipment Equipment
Fittings
Motor Leasehold
Vehicles
Property
Total
Cost
At 1 Apr 2022
300,757
39,912
146,074
11,827
1,311,493
1,810,063
Additions
17,741
At 31 Mar 2023
318,498
39,912
146,074
11.827
1,311,493
1.827,804
Depreciation
At 1 Apr 2022
275.298
34,566
131,324
11,827
500,511
953.526
Charge for the year
15,010
1,781
32,287
51.698
At 31 Mar 2023
290,308
36,347
133,944
11,827
532,798
1.005,224
Net book value
At 31 Mar 2023
28,190
3.565
12,130
778,695
822.580
At 31 Mar 2022
25,459
5,346
14,750
810,982
856,537
Investments
Movement in market value
2023
2022
Market value at 1 Apr 2022
Acquisilions at cost
Disposals at market value
Net gainllloss} on revaluation for the year ended 31 March 2023
Net monies transferred to client monies account less fees
4.171,493
3,100,201
1,237,644
2.239.365
(193,304) (789.015)
{150,626)
51,028
(35,814) (430.086)
Market value al 31 Mar 2023
5.030,023
4.171,493
Historical cost at 31 Mar 2023
4,893,808 3.365,857
10.
Analysis of investments at 31 Mar 2023 between funds
Unrestricted
Funds
Total Funds
2023
Total Funds
2022
Listed investments
Government Securities and Corporate Bonds
Equilie5
Other investments
UK group undertakings
Cash and Gash equivalents
1,260,648
3,710,193
1,260,648
3,710.193
292,998
3,784,129
5,100
4100
5,100
5,030,023
5,030,023
4.171,493
Listed investments are slated at market value.
22

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Notes to the Financial Statements (continued)
The following represent holdings of greater than 50/0 of the portfolio value.
Fund Name
/0 Held
United Kingdom (Government ofj OQ/¢ T-Bill
Subsidiary undertakings
Details of the company's subsidiaries at 31 March 2023 are as follows=
Name of undertaking
Registered
office
United
Kingdom
Nature of
business
Relail sale of
cards and gifts
Class of
./• Held % Held
shares held Direct
Indirect
Ordinary
100%
Cost of
Investment
£5,000
Northern Ireland Chest
Heart and Slroke
Enterprises Limited
NICHS Home Care
United
Support Services Limited Kingdom
Home care
support
services
Ordinary
100/0
£100
The aggregate capital and reserves and the resu5t for the year of the subsidiaries noled above was as follows:
Name of undertaking
ProfiU{Lossl Capital and
Reserves
Northem Ireland Chest Heart and Stroke Enterprises
Limited
NICHS Home Care Support Services Limited
(119)
15.437
(113)
1.547
11.
Debtors
2023
2022
Trade debtors
other debtors
Prepayments
99,400
1,546
8.088
84,986
21.100
.6.980
109.034
113.066
12.
Creditors: Amounts falling due within one year
2023
2022
Trade credilors
Amounts owed to group undertakings
Taxation and social security
Research grant commitment
Accruals
160,946
11.775
72,821
305.604
105,627
61,111
12,001
73,791
241,471
85,535
656,773
473,909
23

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Notes to the Financial Statements {continued)
13.
Creditors: Amounts falling due after more than one year
2023
2022
Research grant commitment
1,133,493
1,122,675
14.
Unrestricted income funds
Balance at
1 Apr 2022
Incoming
Resources
Outgoing
Resources
Balan¢e at
31 Mar 2023
Designated Fund - Fixed Assets
Designated Fund - Six months unrestricted
expenditure
General Funds
856,537
1,749,717
(33,957)
822,580
1,749,717
3,750,149
4,091,115
(4,253,665)
3,587,599
6,356,403
4,091.115
(4.287,622)
6.159,896
15.
Analysis of net assets between funds
Tangible
Fixed Assets
Net assetsl
(liabilities)
Investments
Total
Unrestricted Funds
822,580
5,030,023
307,293
6,159,896
Total Funds
822,580
5,030.023
307,293
6,159,896
16.
Reconciliation of operating profit to net cash flow from operating activities
2023
2022
op.erating profit for the year
Depreciation
Movement in debtors
Movement in creditors
{Gain)Iloss on investment
Investment income
(196,507)
51,698
(4,032)
193,682
150,626
(112,787)
880,311
48,431
300,403
292,157
(51,028)
{74,929)
Net cash inflow from operating activities
744
17.
Company Limited by Guarantee
The liability of each member is limited to one pound each. There were 15 members at 31 March 2023.
18.
Capital Commitments
At the year-end there were no capital commitments (2022: £nil).
24

Northern Ireland Chest, Heart & Stroke
Company Limited by Guarantee
Financial Statements for the year ended 31 March 2023
Notes to the Financial Statements (continued)
20.
Trustees Remuneration & Related Party Transactions
No trustees received any remuneration during the year (2022: £nil).
Trustees received reimbursement for expenses during the year amounting to £nil (2022.. £975)
No trustee or other person related to the charity had any personal interest in any contract or transaction entered
into by the charity during the year (2022.. £nil).
The company has taken advantage of the exemption not to disclose related party transactions with other members
of the group under FRS 102 - Related Party Disclosures, as they are wholly owned subsidiaries.
25