Northern Ireland Chest, Heart & Stroke Company Limlted by Guarantee Flnanclal Statements for the year ended 31 March 2025 Northern Ireland Chest Heart&Stroke SkbkL Northern Ireland Chest, Heart & Stroke (Company Llmlted by Guarantee) Flnanclal Statements For the year ended 31 March 2025
Northern Ireland Chest. Heart & Stroke Company Limited by Guarantee Flnancial Statements for the year ended 31 March 2025 Members of the Board & Professional Advisers R•glst•rod Charlty Nam• North6m Iraland Che81. Haart & Stroke ctY Numbér NIC 103593 Company R•gl•tratlon Numb•r Nl 018889 R•gl8t6rèd Offl 21 Dublln Road B8lfag1 BT2 7HB Dlr•ctorn F?rof8ssor MPS V8rma- Chalr Mr J Collln8- Vlce-chalr Mr l LSnds8y- Hon Treasurer Mr J Scholes Ireshjned 1211212024) Mr T Earley Ireslgned 12112120241 Dr B Galien Dr C W1150n Prof M Shleld8 Mrs T Cralg M8 A Marley- appolnted 1211212024 Ann Douoan_ co-opted on 25th Marth 2025 8•cretary Mr D Cunnan8 Inve•tment Manag•rs Evelyn Partners The Ewart 13th Floor 3 Bedford Squaro Belfast BT2 7EP
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Flnancial Statements for the year ended 31 March 2025 Members of the Board & Professional Ad'v15ers (continued) Bankers Bank of Ireland 8elfasl Cily 8ranch Belfasl BT12BA Sollcllors Elllott Duffy Garrett 40 Linenhall Street 8elfast ' 8T2 8BA Audlto Moore IN.I,I LLP Charterod AGcounlanls and Reg15tered Audltor8 Donegall House 7"Donegall Square Norby 8elfa5t BT15GB
Northern Ireland Chest, Heart & stroke Company Llmited by Guarantee Flnanclal Statements for the year ended 31 March 2025 Contents Pages Strategic and Tru8t805 Annual Report Report ol the Independent audltors to th8 members st8temenl of financial 8ctlvitl8s Ilncorporatlng the 1ftme and bxp8ndlturg accounll &.11 12-14 15 Balance 8h6et 16 Cash Ilow 8tal8ment 17 AccwntlrvJ p)Ild•s 18-19 Noi96 to the ffinandal statement¥ 20-25
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Financial Statements for the year ended 31 March 2025 Strategic and Trustee Report The Trustees, are 8150 Directors for the purposes of company law, pre8ent their strategic report for th8 y&ar ended 31 March 2025. Objectives & Activitie5 The objects of the Charity are lo promote the prev&nUon of and allevlate the suffering resultlng from chest, heart and stroke illne&ses in Northèm Ire[d, and In partlcular. 1. To work ellhw alone or wllh others fef the prevenllon of chesl, heart and stroke illnesses., 2. To educate the publlc on all malters conceming the saSd IllnEsses and to Inlllate and encourage programmes of prevention and health promotion- 3. To carry out, promote or sponsor th8 carrylng out of study and re8earch Into such Illnesses and lo publish the results of such study and research; 4. To rellev6 di8lr8ss occa8loned by chest, heart and stroke Illnesses. The publlo beneflis that flow from these obleetlve$ and actlvitlos Includé,. 1. An knproved quallly of life, and an irnprov8ment In tho heatth and wellb91ng of people aff8Cted by Ghest. heart and stroke Illnesses In Northem Ireland., 2. A decre8se In the number of instance3 and a decrease In the numbpr of deaths related to chest, heart and stroke Illn8588S', 3. An improved public awareness of the risks a¥50Glated wllh developlng 8 chest, heart or stroke Illness In Northern Ireland. Our Mission: Leadlng the flght agdnsl chest, heart and stroke Illnesses In Northern Ireland. Our Vlslon: A Northem Ireland free from chest, heart and strok8 Illne&se$. The Trusleas are very conscionce of the geographScal spread of our servicas throughout Nl and that We are reochlng the argas of grealesl éemand. We covor three dSslincl dlsease araas and approclatg that provldlng Invaluable seNlces in the communlllgs conlinugs lo be unique to our Charfly. Financial Revlew and Rgsults for the Year During the year ended 31 March 2025 the chadty had a dellcil ¢)n its flnancl818ctivities of £748,37712024.. £444.7821 Total income has decreased to £4,107,895 12024: £4.928,152). The Ch•rNies legacy InGome has decreased to ' £1,326.60012024'. £2,105,645}. Our18vel of olher voluntary donaliu)s have deGroased during Ihe year to £1.896.098 (2024.. £1,926,605). Our Charity conllnLses to be very thankful to the publlc for thalr wntlnued 8UPPQrt as over 80% of our Income comes from donations and legacles. Total expenditu by the charlty has 5n¢roased to £4,904.788 12024: £4,627,064). This Incrèased exp8ndltur8 18 directly Ilnked to the Incrèased level of our charitable 8Cttvilies th bolh our Care Serv1¢85 anLI Prevention 8cllvSlles Inueasing thelr reaGh and the lov81 of support In the community. Risk Management Risk is 8n everyd8y part of charitable actfvity. The Trustées have Identified the major rlsks to which the ch8rlty Is exposed and were assured that adequate systems and procedures have been PLII in placo in order to mitigate or manage tIK)se rlsks. Thls has been achieved by idenlifying, assessing and evaluating risks uslng a Rlsk Framework and regulw monitoring and assessrnenl of risk managemenl by Ihg Audit and Rlsk Committee.
Northern Ireland Chest, Heart & stroke Company Limited by Guarantee Financlal Statements for the year ended 31 March 2025 Trustee Report (continued) The Truslees, who are 81s0 Directors for the pul)$e$ of crjnpany law. present their report and the financiol statements of Ihe charlty for the yegr ended 31 March 2025. The Trustees confirm Ihal they comply wilh the requirem8nls of thè Charities Act (Northem Ireland) 2008 and Accounllng and Reporting by Charilies.. Slaiemenl of Rec(Mnmended Practlce whkh applies lo charilles preparing their accounts in 8¢cordance wlth the Financlal Reporting Standard appllcable In the UK and Republlc of Ireland {FRS 1021 leffectlve 1 January 20191. Reference & Admlnl$tratlv¢ Detalls Reference and adminlstratlve detsils are shown In the 5th8(iule of members of the Board and professlonal advisers on page 2 - 3 01 the flnancl81 slalements, Thè Dlredorn The Directors who served the charlly during the perlod were as follow5.. Profe8sor MPS Varma Mr J Collins - VIG8-Chalr Mr l Lind88y - Hon Tro8surgr Mr J Scholes Ireslgned 12112120241 Mr T Earley Ireslgned 1211212024) Mr B Gallen Dr C Wllson Prof Mike Shields Tara Cralg Annerymarie Marley lappolnled 1211212024) Ann Dougan was co-opted to the Board on 25 March 2025 and hopefully will be formally appointed as DIreCtorrUste8 al Ihe AGM. Chgir Company Secrntary Mr D8cban Cunn8ne FCA structur•, Governanca & Management The Charity 18 govemed by Artlcles of As80elallon adop18d on 17 October 2012. They were revlsed al Lhal lime to lak8 account of the Charities {NII 2008 Act and the Comp8nl8s Act 2006. Thèy wore subsequenlly amended al the General Meeting of the Company held on 15 Dècember 2022 to adopt the changes proposed for the number of member8 required for a quorum al an AGM. Th9 GovoinonGe 8oard Is responsible for the overall governance of Ihe charity. Dire¢lors ara either ele¢led or CO• opted and th8 total numb8r of Dlreclors may not exceed eleven or be less than fwe. EleGl8d DIreoIS may remaln In office for nlne years but an extension beyond Ihis may be givon If on8 Ss an offic8 holder. Co-opted Dlreclors ar8 appolnted by th8 Governance Board and shall hold office onty. unUI the next Annual General Meeung. The Board dele9Bles the ox8rc18e of certaln power9 In conn8cilon wllh the management 8nd adminislratlon of the charlty to the Flnance Commltteè, Ihe Audll & Rlsk Commlllee and lo the Sclenllflc Research Commlttee. Thls Is onlrollgd by regular r0POrting back to ihe Board, so that all declglons made under delegated powers are rallfied by the full Board. However,11 means that Ihe Govemance Board is not compelled lo analyse and discuss every declsion. Recommendailons fr¢Jm each Committee are made lo the Board. The Finance Committee and Audll & Risk Committee were merged Into one Finance, Audit & Risk Commltlee effective from 1 April 2024 and thi5 Sub Commill6e meet every three months in addrtion to a quarterly BoaTd meeting. The SGi8ntific Research Commitlee meets al18asl once a y8ar. An operational plan and budget for 2025126 were approved by th8 808rd on 25 Mah 2025. Conunued expanslon of services during 2025126 is key lo the three year StTategle Plan12023-26) whieh was also approved by Ihe Board In March 2023. together wllh kay milestones and success measures lo d8mon8lrale the Impact of our charltable actlvilies and thè 81 dlfference thes& make lo the liv&8 of peoplè in Northern Ir818né. Chlef Executlv• The Chief Executive is responsible for Ihe day-to-day management of the affairs of the charity and for implem8ntln9 the policies and operational plans as agreed by the Governance Board. Between meetings of the GoYemanGe
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Financial Statements for the year ended 31 March 2025 Trustee Report (continued) Board, the Chief Executive reports to the Chairman. The Chlef Executivg is asslsled by 8 group of senior m8n8gers- th& Strategic Leadershlp Team ISLT), whl¢h Includes the Deputy Chlef Executlve. the Dir8clor of Public Health, the Director of Care and Ihe Qireclor of Income Generat40n. Strateglc Leadershlp Team ISLri Collectively these 5 indivlduals are known as the Strategic Leadership Team (SLTI- The performance of the 3 Directors and the Deputy CEO is appraised by the CEO whi151 the CEO'S performancels appraised by the Chairman and a small number of the other Trustees as required. Annual Appraisals arè undertaken after the year- en(J but there are also regular meellngs throughout thg year to diseuss these key personnels, performance against agreed annual objectives. Salaries of all $laff are allgnod to the NJC Scales, where staff normally recelve 8n 8nnuBI Infiatlonary upllft In Ilne with the NJC Scales. When Ihe annual uplift is confimied then a decision 15 made by the Board about whethor lo pas$ Ihis on lo staff in the current year, as It Is subject lo the Charity being able lo afford this pay increas8 given there are nearly 90 9tsff. Stsff have the optlon lo join the Company Penslon plan or Nest, to savo for Ihtlr reliremenl. The Charlty will make Employer contributions al varylng percentage levels in addition lo employee conlribullons. A Salary S8¢rirfce scheme was introduced during 2022123 via Royal London and most slaff have availed of this pension arrangement. Group Structure The charlly has fvjo tholly owned subsldlarles.. Nl Chest Heart & Stroke Enterprlses Llmlt8d This company was formed to carry out non-tharllable trodlng actlviil88 for the ChBdly but11 has not traded for several years. Th$ Company reported a sm811 deficlt of £14912024: deficlt of £97) for some admlnislrallve costs. Nl Chest Heart & Stroke Home Care Support Stsrvlcos Llmlted Thls company was contracted lo provide hom& care servlGos on behalf ol Sperrin & Lakeland Health & Soci81 Cara Trust bul Is ng longer providln9 these 8ervlces as the Contract has ended. The Company rgport¢d a ¢Jeflcll of £134 (2024 deficit 01 £113) for som¢ admini51ralive costs. Thls $ubsldiary 1$ to be slruok orr durln9 the ye8r ended 31 March 2026. Sub Cornmitteas The 2 sub-commltt898 of Northern Ireland Cho$t, Heort & Stroke are: Finance, Audit & Rlsk Commlttee Sclentlfic Research Gommlttee The Flnance Audit & Rlsk Committee IFARC) commissions an Internal audit lo provide the Board and management wllh an independent objeclSve opinion on risk managoment, conlrol and govemance. The Intern81 Audllors (Sumer Nll were appointed for a 3-year temi wilh the opllon lo exlend it lo 5 years which has been adopted, and therefore SumerNI will remaln in posl to conducl Intemal Audlls up lo and includlng 2025126. The Finance Audlt & Rlsk Commlitee currerslly consists of four people, three Board members and one non-Board membei. ThB Flnance, Audll & Risk Committee is chalred by the Honorary Treasurer. Tyustee Selectlon, Appointment & Competence When a vacancy exists on the Boardlcommillees, the office be8rers and the Chlef Execullv? Identify the sklll gaps and seek to Identlfy an indlvidual who can meet Ihose needs. 015cussions have been held by members of the Board and interested Individuals lo ensure that polenual new apptiinlments arg rnade, and succession Issues kept under revlew. Trustees (other than Ihe 3 office bearers) musl reSn after 9 cons8cutive years in orrice. When a new Board Member is co-opltrd onto the Board they ¢8n attend meetings and obseNe before being fomi8lly appointed at the nexi AGM as a Director and TTU51ee. New Trustees have an InduGtSon process where they recelve the key documents of the Charity and meet with Ihe CEO and other Board membeT8 lo get a fuller understanding of the Charity and what their role involves. Competen¢les of the Board and Sub Cotnmittees ,The Direclors Include indivkluals with expèrtise In cardiology (2), stroke111 and respiratory (11 disciplines. In addition, there is a senior director from the prlvate Sector in an englneedng envlronmenl, a chartered accounlanL
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Flnancial Statements for the year ended 31 March 2025 Trustee Report (continued) T¥ra Craig w8s 8ppolnted lo tha Boaid lo support the Commur¢iG8llon & Markeling activlly. Anne-M8rle Morley works as an Allied Haallh Professional 8nd Ann Dougan laxpertise In Human Resources 8nd Peopl81 wlll hopefsJlly be a gre8t addition to the Board wh8n formally appointed al next AGM. The Company can appolnt another two Board Members lrnax 111. Sclentlflc Research Commltte• Ne8rly ev8ry year. we award Research Grants lo ltscal Universities. Th¢ assessment of thè quality and value to NICHS of the vaiiou5 rèsearch projects is undertaken by tho Scientific Research Commillee. W? wer& delightèd that Prof Martin McKee agreed ID Chalr this Commltlee durlro 2022 and we are very proud of Iho qualily ol mamVer8 on Ihls Commlttee which continues lo support our Interes1 In Rfrsear¢h, Ext•mal Audlt Moore IN.11 LLP act as our Extern81 Auditors following their succesgbjl appolnlmenl aftar a tender PTo¢ess. They wlll act for at least fiv8 years commencing wllh the year ended 31 March 2020 audil. Internal Audlt Sumtri Nl were appointed to providg Intgrnal audit seNlce commencing 31 Mar¢h 2021, To date they have undertaken threè Internal Audlts and 011 have been 8a118f8cIory. As Inlemal Auditors, Sum9r Nl perform an inlernal rlsk asse59menl whlch will asse$5 the Inherent rlsk and strength of Ihg control envlronmanl. SuTll8r Nl then prepare the Internal audlt plan each yèar based on the rlsk assessment And consultation wbth r8lpvant members of management and the Flnanc8 Audlt & Rl8k Commltte8. Each year there is a Risk M8nagement Workshop which help5 idenlify the key risks facing the Charlly, The annual Inlemal audll plBn1s prepared UBing 8 rolallon-basod approach where audS18ble units are sublect lo Internal audit annually or less frequently basèd on rSsk. The Inlernol audit risk assessment and plan IB submllled annually lo th8 Flnance Audll & R15k Commllloe for approval. Th8 Internal audit risk aBS8ssm8nt and plan may be varied based on Sumer Nl flnding8, even18 or managamenl requ8sts and aftor consullallon wllh relevant mambers of management or the Flnance Audll & R18k Commlllee to conslder all p8rt1nenl matters. The Inlemal Audil work wlll be pprfnrmed in accordance th Svmer Nl internal audlt mBthodology, whlch Is 8llgned lo the Insiliule of Internal Audltors Inlern81ion81 Stsnd8rds for the Professlonal Practice of Inlemal Audillng. Following execullon of aach Internal Audit Sssignment, Sumer Nl18sue a draft and then a final writt8n report whlch wlll include a r8tlng for each findlng based on the audli findings assessment framework. Th6 final In18rnal Audit repori wlll Include man8gemenl's commenls and plans lor addressing audit Ilndings. A Iracklng proc955 and followlno up of acllons lo address flndlng5 wlll 8180 bg undert8k8n, Inv••tments Portlollo The investment portfolio Is managed by EVen P8rtnei8 who have been advlsed that tha charity'8 prim8ry aim 1$ to pre8eTVa tho capital value of inv8stm8nls Agalnsl inflallon wlth Income gen8rallon and capital gain, being of secondary Importance. Consequently, the Tru518es and Evelyn Partners have agreed a medlum rlsk spread of Investments. The Truste&s h8ve also Instructed their advlsors nol lo Invesl dlrectly in any company, organlsatlon or fund wllh links lo the tobaccole-cigarette5. pelro-chemlcals or 8rmamenls. The Investment Policy & Strategy Is updated annual following discussion wllh the Finance Commlttèe and th& 8oard. and IhS9 was most recently upd818d on 20 May 2025. The performance of the inveslm8nls is monitored quarledy by the Financg Audit & Rlsk Commltteo through comparison with a range of standard indicalors. Members of the Commlllee 81so me8t with Evelyn Partners twice year lo revlew the Porttolio performance. Achievoment15 & P•rformanco The overall Strategic Plan for the Charlty was 8gie8d for the 3 years ended 311312025. The Slraleglc P18n is aimed 81 expandlng our Gharilable aclivilies prlmarlly within our Care Services 8nd Public Health Departments. The demand for Dur servlces and th8 need for our work has never been greater as there ar8 470,000 people
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Financlal Statements for the year ended 31 March 2025 Trustee Report (contlnued) N¢ythern Ireland Ilvlng wllh che8t heart & stroke condltions. Our aclivllies continue to rely predomln8ntty on donations from Ihe publiG and for thls w? are very gr¥tefvl. During the year ended 311312025 we supported almost over36.0Tr) people and 394 organlsations. with our wide range of Care and HeJth Promotion sgrvices12024:35,000). Care Sepiices Impact Over the past year, we have helped 2.807 people12024..3,330) and thelr families ID adjust to Ilf8 with a chest. heart or stroke condilion. We have enabled them to Improve their indepen¢Jence, confldence 8nd overall quality of Ille by supportiry them In their indivldual rehabllltalSon jovmey. In summary we helped 1.765 Stroke suNivors12024'.1,078), 515 (2024 6591 people with resplratory condlllons 32412024 . 3961 people wllh heart wnditSons and 20312024 - 891 careT8. Unfortunately, thè demand for our Care seryices conllnues to In¢rease partlcularly in stroke services and we have continued to tyevelop new supports for people and their car&rs across all three conditions as the demand for this continues to grow. We engage with people and their famllios In communitl8S 8nd are there for people to support thelr recovery process. Health Promotlon and Preventlon SeNIGes Impact We PTovided largeled seTvlces to workplaces, communities 8nd schools to help detect eady slgns of chest, heart & stroke Illness and empower Indliridu818 to make healthy choices. In total 33.46412024 -31.26018dults and chlldren benefittod from our targeted h¢alth promotlon services Includlng 394 organisailons. Durfng 202412025 we d6llvered He81th Checks to 8,166 {2024-9,0001 pe¢Jple encovraglng the reciplents tD make healthy Imestyle ehanges and slgnposted 34% of them to thelr GP for addlllonal support. Health Promotion in the Workplace lo 1.80412024'.3,847) employees and In $0 doing tralned 98 {2024 1311 new Heallh,Chbrnplons', Health Promotlon In 121 {2024.' 871 S¢h$3ols and Communlty Organlsallons, where 22,99612024..18,168) par8ni8 Bnd young pèople benefffted from our schools health education programmes," Resegr¢h Research Is VI1 lo the work we do In the fighl'lo prevent chest, heart and stroke condllions. There ere Gurrenuy 22 Ilve Researth projects. Our Scientific Research ComTnllleè approved fundlng for 4 new projects tot8111ng £401,105 following the submission of high quallty ra8earch prole¢ts durlng the year ended 311312025. Prlor lo making funding offer these projects need lo peer revlawed #nd there IJ a delalled quallty-led selection process required In as$e55ing all funding applicatlons. A speclal thanks to thè members of our Sclentlflc Res8arth Committee and otsr Peer Revlewers who reaWed the grant appllcatlons recelved.. Campalgning & Lobbying Some of the areas that we have conllnued to lobby local ropr8senlalives and Government on Include the f8llure to drive forward Ihe reform of Stroke SeNices and the agieed Adlon Plan. We campalgned In support of the Tobacco & Vaping Bill and successfully lobbied for the Inlroducllon of 8 V8plng Reglsler, We Increased eng8gemenl wllh the A58embty members and other5 to push for a Clean Ajr Strategy as part of the Heahhy Alr Nl C0811110n. Plans for future perlods NICHS'S Strategic Plan12023- 20261 sets out how we want to make a posltive drfference and Impact on the Ilves of people in Northèm Ireland. Whlle our prlorftles have not changed, our Strategic Plan for the 3 years endèd 311312026 provldes detail on how we plan to increase our servlce offerfng lo meet the local needs. We stlll aim to ccfitribute to a 25Oh decrease in the numb&r of dealhs from preventabl8 chest heart & stroke il]ne&ses In Northern Ireland., double tha number of peoplo who will benefit from our care and preventlon servlces. Volunteers Volunteer5 wthln Northern Ire18nd Che8t Heart and Stroke are Immensety lrnportant In the dellvery of our servlces. As such they are involved in every aspect of what We do and are crncial lo connect us lo loGal communili8s. Roles are diverse and InGlude a wide vadety such as Govemance Board members. care.services support and fundralsing
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Financial Statement5 for the year ended 31 March 2025 Tru8ta8 Report (Gontlnued) amba$$adors. NICHS ambassadors 8x181 io raise awareness of NICHS within local communliie5 and office-based volunl8ers support dgPartmen15 with various 8dministratlon tssks. Al the end of M8rch 2025 we had approxlmately 180 volunteers across Care, Fundraislng. Corporalg Sgrvices and wllhout their support we could not dellveT whal we do. manage the gvenls we organise and we ar8 very grateful for this much needed help, Supporter¥ The generosity of indlvlduals and companies across Northem Ireland conllnues lo be the cornersion6 of our Income generation al NICHS. We would like to thank each and every one Df our supporters. Your commSlmenl to supporting our life enhanclng 88Nices and lif8Thsavlng research is inspirational. Income Voluntary income decreased durlng 2024125. The numb8r ol legacy gifts also decreas8d, wllh 63 individual legacy recelptg for donaUons left in wllls, accounting lor over 40% 01 lolal Incomo generation from the Fundraising Tgam. Almost 90Yo of our sèrvlces are lunded by publlc donallons so we are extremely grateful to the publlc for their rxjmmitmenl and ongoing $upport. During the year we also réceived funding from a number ol Trusts and Foundallons whom we would like to acknowlge Ineludlng the Magill Famlly CharllabS6 Trust, Maureen 8081 Charllable TNSt, Ardbarion Trust, Oth•r Incomo The charily conllnues lo receive valuable rental Income from 8n ATM machine al the premises on Dublin Road, Belfasl. UnrHlrlct•d Ro••tvè• The'charily's reserves policy is lo malnlaln a18vel of resources whlch mat¢h88 th8 needs of the organlsallon both 81 th& current time and in the foreseeabl8 future. The reserv&s requlrgd Should be 5ufflclenl to wv.er funds Snvested In land and bulldlng5 plus slx rnonlhs unreslricled expenditure. Our reserves a$ 8131 March 2025 8xc88d this level by £3.360,610 {2024.' £4,053,372) mainly as a consequ&nGe of beller than expected r8CglPts from leg8cles In the prevlous fow years. The Tru$lees have agreed lo Increase our charitable expendliure over the next 2-3 year5 In a measured and iargeled fashlon, In Iln8 wllh Ihe prlorllles 881 out In our Slraleglc Plan and costed In our annual budo8t. Our Impact Fr8mewotk Model asslsls u8 In ensurlng that expenditure is 18rgel8d al 8reas th81 create the blggesl Impact. The TnJslee5 a a150 conscience of the geogr8phical 8pre8d throughout Nl of our services gnd that we are r88chlng Ihe areas of greatest demand. We cover three dislinct dise889 areas and appreclale that providing Invaluable services in the communilles continu85 to bg unlque. Investment The Gharlly engages Ev8lyn Partner5 to manage a di5Grelion8ry inveslmenl portfolio. AS 8131 March 2025 the m8rkel v81ue of Invoslmenls had Increased lo £6,054.81912024'. £6.260,4811. During the year there was an overall gain In value of inveslmenls. Unless the Income reduces significantly there are no plans to realise a significant portion of this portfolio whlch is managed on behalf of the Charity by Evelyn Partners. No investment is made In anl-compBny or organisallon which has links to thè tobacco, 8-cigarelles, armaments and petro-chemical industries or which is otherwise in confllcl wth the ethos and aims of the charlty. Evelyn Partners also provide the Charlly. wllh 8 report on the ESG rating of oui Investrnent Portf¢liD which lo date is olso In the top AA range. Following the advice of Evelyn Partners funds were invested successfully in Treasury Bills which g6nerated a return belter than would have been achiove(I had the lunds been held on deposit wllh banks. Thls approach to managing th858 funds is discussed at each QuarlgTly FARC and al th& Governance Board meellngs. The approximate gTOSS annual Income from the portfolio Is £113.412.9712024.. £81,470). Thls portlollo provld98 0 steady annu81 income stream. but the main purpose is the preservation of capital. 10
Northern Ireland Chest. Heart & Stroke Company Llmited by Guarantee Financial Statements for the year ended 31 March 2025 Trustee Report {Gontlnued) Pensions The charily operates a definod conlribijlion pension scheme lor the benefll of Its permanent stsff who wish lo P8r1idp8te in it. The assets are admlnistered by insurance companles in personal pension plans and are held Independently from those of the charity. During the year. the Charlfy Introduced the option of a Salary Sacrifice Scheme for pension conlrlbullons whith was made avallable to all employees. The Charity stS1181s9 provides a NEST scheme which staff partiupale In If they do not wisli lo move lo the Royal London Scheme. Contrlbulions ore charged to the Statement of Flnanclal Actlvllles in the perfod to which they relate. The Charity is auto enrolrnent compliant. Results The results for the year ond the chadty's financial positlon at the end of the year are shown In the attached fln8nclal slalements. Responslbllltlas of the Dlrector¥ The Directors are responsible for preparlng the Directors, Annu81 Raport and the flnan¢lal ststemenls In accordance with appllcabl8 law and regulatlon5. Company law requlres the Dlreclors to prep8re finandal slalemenls for each financlal yèar. Und&r that law the Dlrectcys have eleded to prepare th8 financS81 statements,. in a¢¢ordance with United Kingdom Ac¢ounllng Standards (Uniled Klngdom Generally Accepled Accounting Practi¢el. Tho finanGial statements are required by law to 9Sve a true and fair view of the ol the chafity and of the surplus or deficit of th¥ chèrily for that pertod. In proparlng Ihese financlal slatarnents, the Directors are required to.. Sel8Ct suitabl8 accoundng policles and then apply them ccm8i3tently', Make judgements and esllmates that are reasonable and prud8nt', Prepare th8 financlal statements on the golno concem ba8ls unless It Is Inapproprlats to pr8sumo thgt th8 charlty will contlnue in operation. Thg Directors are responslbl8 for keeplng Proper 8ccountlng'récord8 whlch dSselose with reasonable accur8cy al any time the Ilnanclal posllion of tho charity ahd whlch 8n8blé th6m lo ensure that the finanelal statements compty th Compani88 Act 2006. The Dlrectors are al80 responsSble for 8afeguardlng the assets of the charlty and hence for tsklng reasonable steps for the prevenllon and dete¢tlon of fraud or any other Irregularttles. In $0 far as the Dlrectors are aware... There is no relevant audlt Infomiatloh of whlch the eh8rW8 audltors are unaware., and The Olrectors have teken all steps Ihal they ought to have taken to make themselves awar8 of any relevant audit Infonn8tlon and to" establlsh that the audllors are awara of that Infomation. Audltor A resolutson to appolrtt audltors followlng a compelltlve pr¢xes$ 11 be proposed at the Annu81 General Meetlng. BY ORDER OF THE DIRECTORS DECLAN CUNNANE FCA COMPANY SECRETARY 11
Northern Ireland Ch8St, Heart & Stroke Company Limited by Guarantee Financial Statements for the year ended 31 March 2025 Independent AudStor's Report to the Members of Northern Ireland Chest Heart & stroke Oplnlon We have. audited the accounts of Northarn Ir8land Chest Heart & Stroke for the year ended 31 March 2025 whlch eomprlse the Slalemenl of Financlal Activities. the Balanc8 She81, the Statement of Cash Flows and th8 notes lo the accounls, Includlng a summary of slgnilicanl accounllng pollcles. The flnanclal reporting framework Ih81 has been applied In their preparatlDn is appll¢8ble 18w and United Kingdom Acwunling Stanéards, including Financlal Reportlng Standard 102 The Flnancial R8POrting Standard applicable in the UK and Republlc of Ireland (United Klngdom Generally Accepted ArGounting Practice). Oplnlon on FlnanGIAI statèments In our oplnlon.. give a true and falr vlew on the sia18 of lh8 charitable company's aff8lTS as at 31 March 2025 and of Ils Incoming resources and application of resources Includlng Its Incomé and èxpendllure for the yéar then ended., have been properly prepared In accordance with the Fin8nclal Reportlng Standard 8ppllc&ble in the UK and Republlc of Ireland IFRS 1021 leffeclive 1 January 20151 {Charitles SORP IFRS t02)l. the Flnandal Repofllng Standard applicablg in Ihe UK and Republlc of Ireland IFRS 1021,. have bèen prepared In accordance with ihe requiremanlB of the Compan18$ Act 2006 B#s18 for oplnlon We conducted our audlt In accordan¢$ wlth Intemallonal Standards on Audlllng IUKI {ISA9 IUKII 8nd appIlts1e law, Our iesponslbllilies under thos0 standards are further deserib8d In the Audllor'8 r8sponsibllS1ies for the audll of the accounts section af our r8POrt. We are Independenl of the Trus1 In aGGord8n¢e with Ihe elhlcal Tequiremenls that are relevant lo our audit cf the accounts in the UK, Inoludlng (h• FRC'S Ethlcal Standard, and we hovo fulfilled our other elhlcal r88pons5bililies in accordance with Ih8se r8quir8menls. Wo believe that the audit evidenc8 w8 h8ve obtained Is suffiGlent and approprlale to provlde a b88is lor our oplnlon. Concluslons rèlatlng to golng concern We hove nothing lo report In resp8cI of th8 lollowlng matter8 In rèlatlon lo whlch the ISAS (UK) requlre US to report to you whore.. th8 Trustees, use of going concem ba818 01 accounllng In the preparallon of th8 accounts 15 not appfopriale: or Trusl88s hava not disclosed In th8 8ccounts any Id8nlifi8d m8t8rl81 uncartBinlig5 Ihal may cast slgnlllcanl doubl about th8 Trust's ability lo continue lo adopt the going conc&rn basis of accounllng for a period of al 18a81 t81Ve months from the dale when tho a¢¢ounts ar• aulhor180d lor Is8U8. Other Infom)atlon The olher Inform815on comprlses the Informailon Included In the annual report. other th8n the accoun18 and our audilorfs report ther8on. The Trustees 8r8 respon8lble for Ihe other information. Our oplnion on the accounts does not cover the other Information and, except to the axtent olh8rwis8 8xpllcitly $18tad In our report. we Oo not èxpress any fomi of assur8nc8 conclusion th8reon. In conn8cllon wllh our audll of the accounts. our responslblllty 15 to read the other Informatlon and, In dolng so, consider whether the othèr information is materially inc¢)n$i$lgnl wlih the 8ccounts or our know19dge obl8lned In the audit or othetwlse appears to be materlally mlss18ted. If we Identify such material Inconsislenci88 or apparent materi81 misstalements, we are requlred lo d&lermlne whether therg is a maleflal misslatemenl In the accounts or a malerl81 mlsslalement of the tjlher informallon, If, based on the work we have performed, WB conclude that there Is a material mls818lement of thls other inforrnallon, we are requlred lo report that lact. We have nolhlng to'report In Ihls regard. Oplnlons on other mattors pr•#crlbod by thè Companles Act 2006 In our opinlon, bas8d on the work undertaken in the course of our audit: the Information given in the Trustees, Roport for the financial year for which th8 8ccoun15 are wepared Is consistent with thg accounts., and the Trust995' Report has been prepared In accordance wlth appllcablg legal requirements. 12
Northern Ireland Chest, Heart & Stroke" Company Lirnited by Guarantee Financial Statements for the year ended 31 March 2025 Independent Auditor's Report to the Members of Northern Ireland Chest Heart & stroke Matters on whlch we are r¢qulred to report by exception In the Ilght of the knowledge and Lrnderslanding of the Trustees and ils envlronment obtained in the course of the audil. wa have not identified material misslalem&n15 in the Trustees. Report. We have nothlng lo report in respect of Ihg following matters In r&lation lo which the Compan16s Act 2006 requlres us lo report lo you f. In our opinion... a¢Gounling re¢rJids have not be8n- kept, or returns adequatg for our audlt hav8 not begn receNBd from branches not visited by us., or the accounts are not in agreement with the accountlng records and returns,. or cert8in dlsclosures of trustees, remuneralion Specified by law are ntsl mad8', or we have not recelved all the Information and explanations we require for our audll. Re5ponslbllltles of Trustegs As explained more lully in the Slatsmenl of Trustees, Responslblllll8s, the Truslee8' are responslble for the preparation ol Ihe accounts and for beln9 satlslled th81 they gSve a true and fair view, and tor such internal control a8 the dire¢lor$ delermlne Is necessary lo enable tho prep8raUon of accounts that are freo from maleriol misslatemenl. whelher due lo fraud or effor. In prep8rlng tho accounts, the Trustees are respon$lble for as$e$slng the TTusl's ablllly lo conllnue as a golng concèrn, discloslng, as appllcable. matters related lo going conc8rn and using the going concern besis of accounting unlass the Trustees either intend lo liquidate the company or lo ¢ease operations, or have no reallsllc allernatlve bul to do so. AuditoV$ re8pon51bllltle8 ft*r the audlt of thè flnanelal statement8 Our obj8cllvas are lo obtaln reason8ble assurancé about wheth8r the accounts a¥ a whole are free from materlal mlsstatement, whether due to fraud or error. to issue an audllorfs report that Includes our opinion. Rea50nabl8 assurance is a high level of assurance bul is no!. 8 guarant88 Ih818n audit conducted in accordance with ISAS (UK) wlll always detect a materi81 ml$$talement wh8n il exisls. Mlsslalements can 8ris8 from fraud or error and are considered material if, Indivldually or in the aggregate, they could reasonably b& &xpe¢led lo Inlluence tha 8conoml¢ declslons of users tskan on the basis ol these a'ccounts. liregularllies, Includlng fraud, are Instances of non&compllance wllh laws and regLtlallons. We design procedures In Ilne wllh our responsibS1illes, oulllned above, lo del@cl material missl8temenis In regpecl of irregularifios, Including fraud. The exlenl lo whlch our pro¢edures are capablo of delecllng Irregul8rilies, Includlng fraud, is dèlailed below. Explanatlon as to whal extent the audlt was ¢onsldered capable of detecting Irregularitles, Including fraud The obleclives of our aud51 In respect of fraud, are to Identify and assess the rlsks of material miss131emenl of the financial slalemenls duè lo fr8ud; to oblaln sufficient appropriate audit evldence regardlng the assessed risks or m8lerial misstalemenl due lo Iraud. through deslgnlng and implementing approprlale responses lo those assessed r15ks,' and lo respond 8ppropriately lo instances of fiaud or suspected fraucl Idenlrfled durlng the audli. However. the . prlmary responsibility for the preventlon and d8tectJon ol fraud rests with both m8nagernent and those chorged wlth governance of the Charity. Our approach was as follows.. We obtaln&l an underslandiro of the legal and r8gulalory requlréments applicable to the Charity and consl¢Jered that the most significant are the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of IrèlaTrJ {FRS 1021 leffectivo 1 January 20151- {Charilies SORP (FRS 1021. Enquiry of management, those charged with governance and the enllty's sollcltors around actual and potential litigation and claims. Enquiry of entity staff in eompliance functions to identify any instances of 8ny non.compllance with laws and reglationS. Revwing financial statement d5sclosures 8nd testlng to svpp)rtlng documenl8tlon to assess complianc6 with appliG8ble laws 8nd regulatlons. 13
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Flnancial Statements for the year ended 31 March 2025 Independent Auditor's Report lo the Members of Northèrn Ireland Chest Heart & Slroke Auditing Ihg risk of management override ol controls, in¢ludlng through testing Urnal entries and other adjustments for appropiialen8ss, and evaluating the busln95s falionale of slgnthcant transacllons outslde the normal wurse of business. As part of an audll In accordance with ISAS {UK) we 8xerclse profe55lonal ludgemenl and maintain professlonal scepliclsm throughout the audit. W8 a180'. Identify and as'sess the risks of material mlsstatemgnt of the flnanclal slalemgnls, whether due lo fraud or error. deslgn and perform audll procedure8 responslve lo Ihose risks, and oblaln 8udll 8vldence th8118 sufficient 8nd approprlate lo provlde a basis for our opinion. The risk of not delecllng a material mis$lalem8nt resulllng from fraud is higher than for one resulliry from error. as fraud may Invc4ve colluston, forgery, Int&ntlon81 omissions, misrepiesenlalions, or thè overridg of Internal control. Obtain an underslandlng of Inlemal oonlrol relevant lo the audit in ordei lo deslgn audll procedures that are appropriate In the clrcumstances, bul not lof the purposes ol expiasslng an oplnlon on the 8ffeciivèn8ss of the company's Inlem81 control. Ev81uate lh8 appropilalèness of 8ccounllng pollcles used and the reason8blen888 018ccounllng e811m8188 and related dS$dosure8 rnade by th6 dlréclors. Conclude ¢)n the approprla16n6s8 of the dlr8clors' use of thè golng conc8rn basls of accounllng and, based .on th& audit evldenca obtained, whether 8 material un¢artalnty 8xlsls rèlated lo evènts or condlllons thal may Cast signlficanl doubl on the eompony'8 abllity lo conllnug 83 a going concern. If we conclude that a mal8rl81 urertaInlY exists, we arè requlred lo draw attgnllon. in our audllor's report to tho related d15dosurg$ Iri the rinanGI81 staiements or, ifsuch disdo3uro¥ are inadequale, lo modlfy our oplnlon. Our condusions are based on Ihe aud51 evldeDce oblalned up lo the d810 of oui audllorfs report. However, future even18 Of conditions may cause the Gompany lo ce8se to oonllnue as a golng concern. Evaluate the overall presenlalion, slruciure and conlenl of tho Ilnanclal slalemenls, In¢ludlno the dlsclosureg, and whether th8 financlal stslements represent the undertylng transacllons 8nd ¢v¢nls In a manner that achleves falr presenlallon. A further descrlpllon of our re8ponslbllllles for the 8udll of Ihe accoun151s ltxaled on the Flnanclal Reportlng Councll'8 webslle al,. hllp.'Ilwww.frc.org.uklaudllor8r88pon8ibillli&8. Thls dèserlptlon forms parl of our audltof's Teport. We communlc81e wlth those charged wllh governance regarding, among olher mallors, the planned scopg and Ilmlng of the audll gnd 8ignill¢anl findlng3, Includlng any slgnlfl¢ant dellclenoles In Internal Gontrol that w$ Identify during our gudll. Use of our report This roporl Is made solely to Lhe chari18ble company's members, 88 a bocty, In accordanGe wllh Chapter 3 of Part 16 of the Companies Act 2006 and regulallons made under that AGI. Our 8udil work has been undertaken 50 that W8 mlghl 5t3le lo Ihe ¢harilabl8 company's member5 those malters we are requlred to State lo Ihem In an audllors. T8POrt and fof no other pijrpose. To the lulle51 exlent peTmilted by law, we do nol accept or assume respon51bllity lo anyon8 other than Ihe charitable company 3nd 116 mBmbeTS 85 8 body, for our audit work, lor Ihis f8POrt, or for the opSnions we have fomied. Dalad.. Donègall Hous8 7 Donegall Square North Belfast Dr. R I Peter8 Gall8gher OBE FCA Isenior Slalutory Audltor) for and on behalf ol Moore IN.I.I LLP, Statutory Auditor Chartefed Accountanls 8T15GB 14
XI WJYJ tsl ¢O¢Dr 47JO Lg EJS
Northern Ireland Chest, Heart & Stroke Company Llmlted by Guarantee Financial Statements for the year ended 31 March 2025 Balance sheet 2025 2024 Flx•d •Ji¢t• Tbnglble aB89ts Inve$tmont8 No¢• 745,960 6.054.819 801,S75 6,260,48.1 ,800,779 7,062,056 Deblor8 Co•h at bank 8nd sn hand 158.262 414,258 409,555 709.868 573,520 1,119,443 ¢r•dlt•r•; •m•unl• l•lllno du• wllhln on• y••r 12 {882,8381 11,122,766) N•t euff•nt •i•èli 189,3181 13,323} 6,711.461 7,058,733 Cr•dltor•: ampunl• falllng du• aftor mor• than on• y•ar 13 1655,1741 1464.0891 N•t a•••t• 6,866,287 6,604,884 Fund• UnrgBtrtcted Incorn• fund8 14 6,781,585 6,804,864 ReBtrlctsd Fund8 1S 74,702 Tot•1 fundi 5,856,287 6,804,664 These flnanclal stgternents wero ved by the Dlreclop$ on lfr* It- and are Blgned on Ihalr behaw by: 5,114 Ion Llnds•y {Tr888urer} Prof8Bstsr MPS VAfftia (Chalrl Company R•g18trallon Num er.. N1018889 Th8 Bccompanylw acryjunllng pollclos and notes form part of Ih88e fln8nc1919ts18ments. 16
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Financlal Statements forthe year ended 31 March 2025 Statement of Cash Flows 2025 2024 CasM¢)w¥ fmm operntlng actlvlll•s Cash gener8t•d from Opernllcfis Noto 17 {663,220) 1280.474) Not ea$h Inflow frcffi cperaung advFI• kn1ng a1Ville% Investment In(10 Purchase 91 ianglble fixed aM•t8 Acqulsllion of Invèstments D13posal ol investments Nel monle3 transf•rr¢d to dlènt mon188 acwnt1g$8 fe¥$ N•t ¢4•h from Inv••tlng aclfvlll•• 1663,2201 (280,4741 113.412 127.749 (39.132) (3,530.877) 2,414.008 30,089 14.331.870 4,584,446 1.802 367,590 1998,1631 Incr&•1{dv$) In ¢avh •nd ¢a•Th •qufvaltnts In th• year Cash and ca8h equlv4ent8 at tho b8glMlrwJ of Iho year Cugh arKI 8h equlvel•nts At the •nd ofthe yfjjr Reiatlng to.. 1295,6301 (1.278,6371 709,886 1,988.S25 414,258 709.888 C•¥b at bank 8nd In hand 414.258 709.888 The accompanylng 8cc¢yJnting polSeie8 and notès fomi part of theso flnancial siatemants. 17
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Financlal Statements for the year ended 31 March 2025 Accounting Policles Basls of Ac¢ounllng The finanGial slalement5 havo been prepared In accordanc$ with Accounting and Reportlng by Chartiles: Slalemenl of recommended Practice applicable to charitie5 preparing their accounts In accordance with the Financial Reporting SlandaTd whloh applies in the UK and Republlc of Ire18nd IFRS1021 leffe¢tive 1 January 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FRS102) and Ihe Comp8nles Act 2C()6. Th8 financ181 statements are prepafed In sterllng, whlch Is the functlonal currency of the charity. Monglary omounts are rounded to lh8 near981 £. Consolldatlon The charity has taken advantage of th• exemption provlded by Section 405121 of the Companlas Act 2006 not to prepBf8 gioup 8ccoynls. The TN8108$ do not conslder the cosl of preparfn9 consolldated ac¢ounls lu$tlflable and note 11 provldes adequate de18118 relatlng lo the natur• of tho trgdlng subsldlarfes. Incomo recognltltrn Inc¢)me is r@cognised when the ¢hadly has enlillemenl 10 the funds, any perforMae condillons allached to the itemlsl of Income have b¢en mg1, 11 is pfobable that Ihe Income will be received, and the amount can bp measured rellably. The prln¢lp81 source of Incom6 comprises voluntary donatlons and leg8cle8. Other Income Indudey Income from lislod Inv$slment8 and grants recelved from health boards, Intwefjt Recolvable Interest on fund5 held on depDsfi Is Included when reoglvable and tho amount can be measured rellably; thls 15 normally upon nollflcallon ol the interest paid or payable by the Bank. R••ourc•• Expandpd l expendilure Is acctsunted for on an accruals basis andls cIBsslfied under headlng5 that aggregate all c0318 related the category. Fundraislng costs Include the costs of advertlslng, produclng publlcatlons, prlnting and malllng fundralslng m8terlal, and staff costs in these oreas. Costs of charll8bl8 actlvlll8s Includ8 dlracl 8xpandllure incurred through the provlsion of r8search grants and operational aclivilies. Re8eaich grants #re recognlsed as expendlture al the Ilmè of approval when Ihe reclplenl Is notlfied of tha grant. Govemance costs represenl the costs associalad wllh the governance arrangements of the Gharily whSch rela18 10 th6 general njnnlng of th8 charfty as opposed to those ¢orsls assoclaled wlth fundr01slng or chariiable actlvity. Flx•d Asgets All tanglble fixed assets gre recorded at ¢08t. Listed inv8Stmenl$ are stated at market value. Depreclatlon Deprecialion is calculated lo write ¢)ff the co81 of 8n assel, less ils e8Umated resldual value. over the useful economlc Ilfe of Ihgt asset as follows.. Hèalth Equipment Flxlure5 & Flttings Molor Vehicle5 Leasehold Property Computer Equipmenl 10% 51raight lin8 10Yo Straight Ilne 20% stralghl line 2.5°lo slraighl Ilne 25Yo 5trai9hl line 18
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Flnancial Statements for the year ended 31 March 2025 AGcounting Pollcles (continued) Repairs & Renewals All repairs and ranowals are wrltten off as Incurrfjd. Pension Costs The charity operate$ a dered conlrlbulion penslon scheme lor employeos. The assets of the scheme are held separately from those of the charlly. The annLtal contributions payable are charged to the statement of IFn8nclal activities. Investments Realised gains and losses on Inveslmenls are calculaled as the difference between sales proceeds and Ihelr market V81ue at the start of the year, or thelr subsequent ¢osl, and are charged or credlted to the statement of flnanclal activlties the year of dlspo$o1. Unrealised galns and losses represent the movement In market values durtng the year and are credlted or charged to the stslement of financial activllles bas8d on the market value at the year end. Debtors Trade and other debtors are recognised at tha $elllem6nl amount due after any db¢ount offered. Pr•payment8 are valued at the amount prepald net of any trade diswunls due. Credliors & Provls5ons CrediloTS and provisions are recognlsed where the charlty has a present obllgallon resulllng from a past ¢venl Ihat wlll probably result in the Iransferof funds lo a third party and the amount due lo sellle the obligalion can be mgasured or estlmaled rellably. Creditors and provlslons are nomially re¢ognlsed at Ihelr selllemtsnl amount after allowlng for any trade dlscoLJnls due. Flnanclal Instrnments The Gharily only has financial assets and flnancial1Sabllllles of a klnd Ihat quallfy as basic fln4ncial In$lruments. 88sIc financl81 instruments are Initlglly recognlsed al Irans8clion value and subseouenlly measured at their selllement value with Ihe exGopllon of bank loans whlch are subsequonlly measured al amortised cost using the $ffecllve inlerest method. Forelgn Curren¢los Monetary assets and113bllllies In forelgn currencies arts translated into sterling 81 Ihé rates of exchange rullng al th• balance sh¢et date. Transacllons In foreign Clsrrencies are translatèd Into sterling al the rate of exchange rullng al the date of the transactlon. Exchang• differfjncos are token Into account In arriving at the nel movement in funds. Fund Accountlng Unrestrlcled funds are general funds that are avalleble for use at the Trustees, discTrllon In furtherance of the objectives of tho charity. Designat&d funds are unrestrltted fund3 set aslde ty the trustees out of ueStrIcted gen8ral funds for spacific future purposes. Restri¢led funds are those glven ft)r use In a particular area orfor speclllc purposes, th8 use of whlch Is restrided to th8t area or purpose. R•seTves Pollcy Unreslricted funds are needed to provlde funds whlch can be applied to speclfic proJects lo enable these projects to be undertaken al short nollcè and lo cover the runnlng costs ol the Charmy for a limited perlod, should there be significant shortfall in projected incoma. The Trustees conslder it prudent that unrestricted reserves should be sufficient to avold the ne¢essity of 811s1ng fixed assets held for the charlty's use and lo covèr six months unrestricted expendttvre. The level of unrestricted funds needed for these purposes are shown as deslgnated funds. 19
Northern Ireland Ch08t, H'eart & Stroke Company Limited by Guarantee Flnanclal Statements for the year ended 31 March 2025 Notes to the Flnanclal Statements Oon•tloni and l•gacl&• untTb¢tsd Fundi Re¥lrlcted Total Fund8 Fund¥h 2025 Total Fund• 2tr24 Donatlonx Voluntary Oonation8 1,823.398 72,702 1,898.098 1,928,805 L•ga¢l•s Legacles- unre8trkted I,326,0 1,328,600 2,105,846 3.149,996 72,702 3,222,698 4,032,250 Incom• from Inv•stmqnt• Unr••trfot•d Fundg Re$trlclad Tolal Funds Fund• 2025 Tot•1 Fundi 2024 Incom9 from UK11gt•d Inv•Btrn8ntg Inwne Irom cae 113.412 2,644 ' 113,412 2,644 106,823 21,250 110,056 116.056 127.073 Incom• from Gh•vltabl• i¢tlvltl•• Unr••trlct•d Fund• R••trlGtqd Fund• Total Fund• 2025 Tot•1 Fund• 2024 Incomé frorn H&alih Trusts Contracts Income from PHA Conlracls Incom& from the wovislon ol health S8Nlc•#. 453.649 168,173 147,319 453,649 168.173 147,319 424.073 206,170 138.586 789,141 769,141 788,829 Exp•ndlturè ort ral8lng fund• Unr••trlct•d Furtd* Re¥trl¢t•d Tot•1 Fund• Fund• 2025 Tot•1 Funds 2024 Appe81 cosis SuppDrt costs 873,204 102.321 873.204 102,321 966,761 92,188 975.525 975,525 1,058,949 20
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Flnanclal Statements for the year ended 31 March 2025 Notes to the Financial Statements (contlnued) Expenditure on charitable activltles by fund typo Unr•strlcted Funds RestrFrt•d Funds Total Funds 2025 Total Pur* 2024 Slroke soNc Re$earch Primary Prevenknn Advocacy Card18C 5ervi¢e3 Respiratory serylces 1.489,189 518.556 871.100 345,087 291",124 355,647 48,OC 1,537,189 518,556 871.1(MJ 345,087 291.124 355,647 1.348.886 611,026 674.454 340,104 186.675 396,8SO 3.870.669 48,000 3.918.703 Govemance costs 3,557,995 10,500 10.560 10.120 3,881,263 48,oIXt 3,929.263 3,568,115 N•t (outgoing)Iln¢omlng r•sour¢e3 for th• year l¥ stat•d after charging: 2025 2024 Staff pen8lon ¢ontrfbutlonB Dgpr8¢lalk Audltors, remunerallon.. Ext&mal Audit S?Ces lfttemal Au(111 S&Nlce 150.679 65,615 28S.899 60,137 5,040 5,520 4.800 5,320 216,854 356.156 Staff costs and emoluments Total staff cost$ were as follows.. 2025 2024 Wages and 8alarfes SocS8l securfly costs Other penslon costs 2,748.756 253,975 150.679 2,589,094 233.344 28S,899 3,163,410 3,108.337 Particulars of omployees.. Thè 8verage nurnber ol omploy8•8 durfng the year. ¢41cul•t8d on the basis of fvlmlme •qufvalerts, was as foll¢)ws: 2025 2024 Number of stoff 88 85 The number of employees whose remuneration forthe yearfell ¥h1n thè followlng bands wern: £60,000 to £69,999 t70,0 lo £79.999 £80,OCO to £89.999 The key Manageme pefsonnel ofthe ch8TIty comprfse the Dlreclors. Chlef Executwe, D•ty Chief Executwe 8nd Ihe Senlor Managernent Tejm. The total employee benefits of tre key man8gernenl per%ml ofthe charily were £353,499 (2023.. £263.5461. 21
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Flnancial Statements for the year ended 31 March 2025 Notes to the Financial Statements IGontinued) Tanglbl• Ilx•d aBBet$ Comput•r Hwllh FlxNr•8 & Equlpmènt Equlpment Flttlng• Motor L•as•hold Vehlcles Prop•rty Total Co¥t Al 1 Apr 2024 357,630 39,912 146,074 11,827 1,311.493 1.866,938 Add11kn8 At 31 Mar 2025 357,630 39.912 146,074 11.827 1.311,493 1.866.936 D•prAclAtlon Al l Apr 2024 313.954 37,904 136,591 11,827 565,085 1.065.361 Charye lor thè year At 31 Mar 2025 333,629 38,911 139.237 11,827 597,372 1,120,978 N•t book valu• At 31 Mar 2025 24,001 I,ooi ,837 714,121 745,960 At 31 Mar 2024 43.676 2.008 9,483 746,408 801,575 Invo¥tmentJ Movément In market valuo 2025 2024 maet Value al l Apr 2024 Acqulsillons 81 c05t Oisposals 81 market V81ue N¥1 g81nllbssl ori revaluation for y&ar onded 31 MarGh 2024 Ng1 monlo9 tr8n$lorred to cllont monlgs accounl1056 le•$ 6.260,481 5,030,023 4,331,870 3,530,877 14.584,4461 12,414,008) 4B.516 143,678 11,6021 130.0691 Markèt value al 31 Mar 2025 6,054.819 6.280,481 Hl8lorfcal ¢051 al 31 Mar 2028 4,893,808 6,007.760 10. Analys18 of Inve4btments at 31 Mar 2024 botween funds Unro•trlcted Fundi Total Funds 2025 Total Fund6 2024 Ll$t•d Inv•8tm•nts &)vernm?nl Securitieg and Corporate Bonds Equluas Oth•r In¥••tm•nlq LK group undertakings Cash and cash oquivalent8 2.447,441 3,570,888 2,447,441 3.57g.888 2,492.251 3,739,137 5,100 22.390 6,054.81 5,100 22.390 6,054,819 s.ioo 23.993 6,260.481 22
Northern Ireland Chest. Heart & Stroke Company Limited by Guarantee Financial Statements for the year ended 31 March 2025 Notes to the Financial Stalements (contlnued) Listed Inv8slments èr& stated at market vthe. The following represent holdings of weater than 5% ofthe portfolio Va8. Fund Name % H•ld Unlted Kingdom (Govemm•nt on 0% Gilt Unlied KlrvJdom (Governme ofj 0% T411 5.39% Sub•ldlary und•rtaklng$ 0818118 ol Ihe ¢0mn3 substdlarles al 31 March 2024 are as follvws: N•m• of drtakIng R•glst•r•d hlature of Northern Irel8nd Chest buslnfj Heart and Stroke Relall saJ8 of Ent8rprtses Llmited cards and glfts NICHS Home Care Unlted Support Servic•8 Llmlied Ktngdcrfn Class of % Held % Held $hJrns held Dlrect Indlrect Ordln8ry 100% Cmt of Invegtm•nt £5,CO) Unit•iJ Klngdom Home cgr• 8UPPJrt Ordlnary 1Ch)% £100 The aggregate ¢a#tal 8nd r88erves And ihe r•sull for the year of the 8ub6ldlarfe8 noted at>)ve was a8 fc4lows'. Mam• ot undertaking ProfltllLossl Capltal R•ems Northern Ilnd Ch881 Heart and Slrc4(e Enterpr5s•B LJTr7il8d NICHS Home Cere Support Sarvlces Llmlled 1149) 15.191 1134) 1,300 11. Debtorn 2025 2024 Trade debtors Other debtor8 Prepayments 96.024 29.650 33,588 85,574 296,584 27,397 159,262 409,5S5 Credftors: Amounts falllng du• wlthln on• year 2025 2024 Trade Ngdilors Amounta owed to group undwlakln9S Taxalon and soclal security Research granl cornmitmenl Accruals 109,9S1 11,294 89.876 389,394 62.323 169,280 11,582 B3,857 800.622 57.44S 662,838 1,122,766 13. Creditots: Amounts fallln"g due after more than one year 202S 21)24 Resèarth grant ccffimllmpnt 855,174 454,069 23
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Financial Statements for the year ended 31 March 2025 Notes to the Financial Statements (contlnued) 14. Unrgstrlct•d Income funds Balanc• ot Incomlng 1 Apr 2024 Resour¢•s Outgolng Re8ource• Transfer between lund• B•lonu at 31 PAar 2025 DeskJn8ted Fund - Flxed AssetB De$lgn8ted Fund- SIX months unreslrf¢t•d expendllur8 Ggn9ral Funds 801.575 1.749,717 155,615) 745,960 1.749,717 4.053.372 4.035.193 14,752.6571 150.0001 13.285.908) 6,604,664 4,035,193 {4.808,6571 150,0001 5.761,585 15. Rè8trlct•d Incomo funds 8al•nc• at In¢omlnq l Apr 2024 R••QU Outgolng Transhr botWo*n funds B•l•nc• •t 31 Mar 2025 Femi8nÉoh Group Reso8r¢h Prd•ct 2023.801 72,590 112 148,¢)001 24,590 50.112 50,000 72,71Y2 148,OC4)1 so,o(KJ 74.702 16. Analy81• of nat as••ts bgtw•èn fund4 Tanglbl• Flx•d Aii•t• N•t o•MtsI Il•bllltl••l Inv••tm•nts Tgtsl Unr••trlct•d Fund• R•ilrl¢t•d Fund• 745,960 8,054,819 11,019,194) 74.702 5,781.S85 74,702 Total Funds 745.960 8,064,819 1944,4921 5,858.287 17. Reconclllatlon ot op•rntlng proflt to n•t co8h flow from operntlng actlvltles 2025 2024 Operatlng prolit for the year Oepreclalion Mov8ment in debtors Movement in credllor8 (Gainllloss on investmenl Investment Income 1748,3771 55.615 250,293 158,8231 (48,5161 (113,4121 444.768 60.137 1300,S21) 1213.431) 1143,678) (127,749) Not cash Irfflow from owratlng actlvltleg 1663.220) (280,4741 24
Northern Ireland Chest, Heart & Stroke Company Limited by Guarantee Financial Statements for the year ended 31 March 2025 Notes to the Financial Statements (contlnued) 18. Company L5mitsd by Guarantee The liablllty of each member is limited to one pound each. There were 9 members at 31 March 2025. 19. Capltal C¢)rnmltments At tho year*nd there were no ¢apttal commllments12024: £nll). 20. Truste•s Romuneratlan & Related Party Transadlon8 No tru$to8s rec•lved any rgmUnera0n durlng thè year (2024: £nll). Tru8t883 recelved no r8lmburs8monl for expenses during the y8ar.12024: £nil) No trustee or other person related to Ihe charity had any personal Interest In 8ny contract or transaolion enterad into by the charlty during Ihe year12024', £n51). The company has taken advantage of th8 exgmption not to disclose related paty transactlons w6th other members of the group under FRS 102 - Related Party Dlsclosures, as they are wholly owned subsldlaries. 25