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
c￿￿tY 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 1ft￿me
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
DIreCtor￿rUste8 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 DIre￿oIS 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 Ma￿h 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 reS￿n 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$5 the Inherent rlsk and strength
of Ihg control envlronmanl. SuTll8r Nl then prepare the Internal audlt plan each yèar based on the rlsk assessment
And consultation wbth r8lpvant members of management and the Flnanc8 Audlt & Rl8k Commltte8. Each year there
is a Risk M8nagement Workshop which help5 idenlify the key risks facing the Charlly,
The annual Inlemal audll plBn1s prepared UBing 8 rolallon-basod approach where audS18ble units are sublect lo
Internal audit annually or less frequently basèd on rSsk. The Inlernol audit risk assessment and plan IB submllled
annually lo th8 Flnance Audll & R15k Commllloe for approval. Th8 Internal audit risk aBS8ssm8nt and plan may be
varied based on Sumer Nl flnding8, even18 or managamenl requ8sts and aftor consullallon wllh relevant mambers
of management or the Flnance Audll & R18k Commlllee to conslder all p8rt1nenl matters.
The Inlemal Audil work wlll be pprfnrmed in accordance ￿th Svmer Nl internal audlt mBthodology, whlch Is 8llgned
lo the Insiliule of Internal Audltors Inlern81ion81 Stsnd8rds for the Professlonal Practice of Inlemal Audillng.
Following execullon of aach Internal Audit Sssignment, Sumer Nl18sue a draft and then a final writt8n report whlch
wlll include a r8tlng for each findlng based on the audli findings assessment framework. Th6 final In18rnal Audit
repori wlll Include man8gemenl's commenls and plans lor addressing audit Ilndings. A Iracklng proc955 and
followlno up of acllons lo address flndlng5 wlll 8180 bg undert8k8n,
Inv••tments Portlollo
The investment portfolio Is managed by EVe￿n P8rtnei8 who have been advlsed that tha charity'8 prim8ry aim 1$ 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$3ols and Communlty Organlsallons, where 22,99612024..18,168)
par8ni8 Bnd young pèople benefffted from our schools health education programmes,"
Resegr¢h
Research Is VI￿1 lo the work we do In the fighl'lo prevent chest, heart and stroke condllions. There ere Gurrenuy 22
Ilve Researth projects. Our Scientific Research ComTnllleè approved fundlng for 4 new projects tot8111ng £401,105
following the submission of high quallty ra8earch prole¢ts durlng the year ended 311312025. Prlor lo making
funding offer these projects need lo peer revlawed #nd there IJ a delalled quallty-led selection process required
In as$e55ing all funding applicatlons.
A speclal thanks to thè members of our Sclentlflc Res8arth Committee and otsr Peer Revlewers who re￿aWed 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 $upport.
During the year we also réceived funding from a number ol Trusts and Foundallons whom we would like to
acknowl￿ge Ineludlng the Magill Famlly CharllabS6 Trust, Maureen 8081 Charllable TNSt, Ardbarion Trust,
Oth•r Incomo
The charily conllnues lo receive valuable rental Income from 8n ATM machine al the premises on Dublin Road,
Belfasl.
UnrHlrlct•d Ro••tvè•
The'charily's reserves policy is lo malnlaln a18vel of resources whlch mat¢h88 th8 needs of the organlsallon both
81 th& current time and in the foreseeabl8 future. The reserv&s requlrgd Should be 5ufflclenl to wv.er funds
Snvested In land and bulldlng5 plus slx rnonlhs unreslricled expenditure.
Our reserves a$ 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 appIl￿ts1e 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 t￿81Ve 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
regl￿ationS.
Rev￿wing 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
ur￿ertaInlY 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•*
kn￿1￿ng a￿1Ville%
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{d￿v$*) 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$tlflable and note 11 provldes adequate
de18118 relatlng lo the natur• of tho trgdlng subsldlarfes.
Incomo recognltltrn
Inc¢)me is r@cognised when the ¢hadly has enlillemenl 10 the funds, any perforMa￿e condillons allached to the
itemlsl of Income have b¢en mg1, 11 is pfobable that Ihe Income will be received, and the amount can bp measured
rellably.
The prln¢lp81 source of Incom6 comprises voluntary donatlons and leg8cle8. Other Income Indudey Income from
lislod Inv$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 der￿ed 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 u￿eStrIcted 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&•
un￿tTb¢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%m￿l 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
ma￿et 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 Va￿8.
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 ¢0m￿n￿3 substdlarles al 31 March 2024 are as follvws:
N•m• of ￿d￿rtakIng
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 I￿l￿nd 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 rgmUnera￿0n 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