Charlty registration number 1116918
Company reglstr3tion numbfrr 05935975 IEngland Wal0•1
Scottish chaTIty registratlon numbèr SC042984
THE HEART RESEARCH INSTITUTE (UK)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE HEART RESEARCH INSTITUTE (UK)
LEGAL AND ADMINISTRATWE INFORMATION
Truste••
MrAC Calon OBE
Mr S 8 Moodey
MrA Phlllips
MS E L Pintsdo
MrA W Pollitt
ProfAndrew GraGo
ProlAndrtr￿ C￿ts
Charlty number
1116918
Charlty nUm￿r Iscollandl
SC042984
Company numb•r
05935975
R•glst•r•d offlc•
Bankslde 300
Peachman
Broadland Business Park
No￿l¢h
Norfolk
NR7 OLB
Audttor
Az•lsAudil SeNcts
Waslpoinl
Lynch Wood
pete￿OrOugh
cam￿IdgeS￿lr8
United King¢Jom
PE2 6FZ
8*nk•rn
Santand•r UK PLC
2 Trilon Squar8
Regenfs Placo
London
Uniied Kingdom
Bank of Ireland
12 Th8 High Slrg81
KildaTe T¢)wn
CO. Klldare

THE HEART RESEARCH INSTITUTE IUK)
CONTENTS
Pag•
Trustees report
Slalement of Tntstoes resM)nstbilities
Indepenolent audilorfs r•port
Slatemenl of finawal 8¢tivitieB
Balance $heet
10
Staternenl ofcash flow$
Notes to the finanual stslemttnls
12.19

THE HEART RESEARCH INSTITUTE (UK)
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report and financial stslemenls for the year ended 31 December 2024.
The financial 51alemenls have been prepared in accordance with the accounling policies sel out in note 1 to the
financial statements and comply wrth The Heart Research Instilule IUKI'S Memorandum and Articles of Association,
the Companies Act 2006 and "Accounting and Reporting by Chariti¢s'. Statgment of Recommended Practlce
applicable to charities preparing their acctsunts in aetordance with the Financial Rèporting Standard applicable in
the UK and Republic of Ire18nd IFRS 102}" leffective 1 January 2019}.
Obj•ctiv•s and activities
The Heart Research In51ilule has four core objectives..
To investsgate mechanisms contributing to th8 pathog8nesi$ of cardiovascular disease
To develop new ways lo dele¢t symptoms of cardiovas¢ul8r disease before il lea4Js lo dinical problems
To develop new treatments which can reverse Ihe development of heart disease
To prevent individuals developing cardiovascular disease in the ftrtvre
The reason the charity and its parent company are focusing mainly on cardiovascular disease is because Ihis is the
leading cause of death in the worfd. a phenomena that is also increasing in thifd-world countries. However, research
into the origins of such disease spans many years and requires the seNices of highly qualified scientists, as well as
the usage ol expensive technology. That is why a major activity of the charity and its parent is fundraisin9, becaus&
any funding obtained through competitive grants lor specrfic reseai¢h proje¢ts and infrastructure support frorn
governments or othèi bod¢Ès Is Insufficient to eover all the costs invO￿e￿. The ¢harity and its parent have a ltsng-
term aim of contributing lo a significant feduction in caidiovas¢ul8r disease, bul recognise that eventual success in
this regard means extensive investment in research here and now.
The charity's main objective for the year ended 31 December 2Q24 where to detemiine Ihe best distribution of funds
Taised tts assist with meeting rts objectives and focus on further dèvelopment of the lottery and monthly pledge
progiams. The strategy for achievlng these objectives was lo maintain arrangement with reputable contractors well
experier)ced in condudin9 lotteries and monthly pled9& programs in the UK. Signifi¢anl adivitJ&s that ¢onlributed lo
the achievement of these objedives the negtstl81ion and resolution of oper8tion81 procedu￿$. and thè recording and
processing of ie5ultanl Iiansaclions. The Iruslees have given due consideialion of the Charity Commission
published guidance on the operation of the public benefit requirement.
A¢hl¢v•mènts and performanc•
Funds raised by the HRI in the UK go directly to SCAenlific research helping to find solutions to this global health
challenge. Funds are used to support the Iront line researchers and lo purchase the lalesl research equipmenl.
Finan¢io1 r•vlew
The net incoming resources for the year ended 31 December 2024 amounted to £410,54312023'. {£6,37611. The
Trustees are confident of the future success of projects activities for 2024 and beyond and (hat these will result in
the building of accumulated surpluses. In addition, the charity enjoys the on-going financ4al support of its parent
eompany and the signrficant experience of its management to ensure its future SLKcess.
Signifi¢•nt ov•nts
The Charity has generated sufficient financial resources from its activities to allow the Trustees to believe that Ihè
hatty is operating successfully in the current economic climate. Trustees have reviewed the financial position for a
period 0112 monlhs from the date of approval of these financial statements which indicate that the charity will have
$uffirJent funds to meèt its liabilities as they fall due lor the pèriod. Therefore, the TnJsteès believe that the Heart
Research Inslilule {UlQ lo continue going concern for at least 12 months from the date of approval of thè financial
slalemenls.
Other than the above developrnenl, no other ilern, Iiansaction or event of a malenal and unusual naluie is likely, in
the opinion of the Trustees. lo affect significantly the operalwns of the Charity. the resulls of those opeialions, or the
slate of affairs of the Charity. in the future years.

THE HEART RESEARCH INSTITUTE (UK)
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Principal financial management ptslicies
rhe principal financial rnanagetnenl policies adopted In the year include the following
Revenue recognbtion
Revenue derived from fundraising efforts is recognised when probable.
Provision$
The Charity iecognises by way of provision any anticipated oulgoings relevant lo the year under ièview for which rt
May have an obligalion, whether legal or constructive.
Reserves
The chaiily maintains reserves to covei Tunning costs of the charity and lo enable Il lo fund research opportunities
that lull within Ihe charity's obiecliv&s as Ihey arise. The actual funds available can vary significantly depending on
Ihe liming ol research. bul Iruslees conclude ihal Ihe actual level of funds should nol fall below 12 months running
ctssis. Whefe Iruslees have Internally agreecj lo fund spe¢ifi¢ cardiovascular ièsearch In the UK or wilh
collaborators. those ILJnds are sel aside as d?signat2d funds until the detail of the funding Is agreed with the
partner. The actual level ol reserves al Ihe year-end 1$ higher Ihan that sel by the policy an¢J the Iruslees are
actively reviewing further funcling opportunities.
Grantmaking policy
The charity awards granls lo be used in accordance with ils chafilable objectives.
PrÈncipal funding sources
Principal funding sources during the year were from the generation ol ievÈnue fioln the lollery and monthly pledge
campaigns. ExpendilLire dijnng the year under review has supported the key objectives ol the ch3Fily by firmly
establishing 3 viable basis for the fulure success of the lollery and pledge CaMpa￿n5
Investmenl powers and policy
Under the Memorandum and Articles Df Association. lo luriher ￿{S objects Ihe charity has the power lo invest any
funds not Imrvediaiely required for Ils objectives In or upon any investmenls. securities or property.
Rlsk management
The major risks lo which the charity Is exposeLI relaiè in particular to the commitments made to outside parties who
undertake the various fundraising campaigns for the charity There can be Considerable sel-up costs Involved in
new fundraising campaigns. which means there Is a delay before a particular campaign realises a surplus. Once Ihe
tiuslees have approved the new catnpaign, they sub5equenlly receive regular reports of 11s progr&s5 and are kept
appraised of 8ny budget Irregulaiilies that ihe campaign may be facing. Restnclions on further comrnitmenls can be
Instiluled quickly and, in addition. a request that Ihe oulside conliaclor cornply wilh specific guidelines lo keep the
prograrn conlained can be also implernenlecj efficiently. The trustees also require that safeguard5 be incorpofaled
inlo legal agreements wilh the fundraising conliaclDrs lo lirnil the risk exposure of the charity.
Plan$ for future periods
The ¢harily will continue to support Post Doclorale Fellowships for youn9 and ernerging UK rese8￿herS and
collaborate with The Heart Research Insiilule Australia In funding spècialist equipment and research so we cari
understand Fnore about. and lo find a cure for cardiovascular diseases, which are the nufnber one killer of people
woddwide

THE HEART RESEARCH INSTITUTE {UK)
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structurn, governancg and manag•m•nt
The Heart Research Institute IUKI is a company limited by guarantee and is govemed by 115 Memorandum and
Articles, dated 14 September 2006. It is also registered as a charity with the Charity Cornrni5sion lor England and
Wales (No. 11169181 and, with effect from 1 March 2012, Ihe Scottish Charity Regulator ISC042984}.
The Tru51ees, who are also the diredors ol The Heart Research Institute IUKI for the purpos& of Company law. and
who served during the year and up to the date of signature of the financial slalemenls were..
MrAG Caton OBE
Mr S B Moodèy
Mf A Phillips
Ms E L Pintado
Mr A W Pollitt
PToIAndrew Grace
ProfAndrew Coals
As set out in the Articles of AssocialK)n Iruslees are appointed by a Te501ulion ol the m&m￿r$ for a renewable lerrn
of three years. The charity Shall have at least three Trustees who are not Iruslee51andloi employees of The Heart
Research Institut8 Limited.
Organisatlon
The Heart Research Institute IUKI and The Heart Research Instilule Ltd have enlered inlo a 'Service Agreement, to
record the basis on which they will work together to further the charities, charitable objects and to oulline the
5eMces prtsvidèd by Thè Heart Rèsèarch Institutè Ltd to The Heart Research Institute {UlQ.
Under the Service$ Agreement. the day-IIHlay fun(Jraising and admini$lialive a¢tiwilies of the charity have been
delegated lo the managernenl 51aff of The Heart Rese8rch Inslilule Ltd. These staff mèmbers report to a Director of
the Institute who, in turn. is subject lo the Board of Governors of Ihe Auslialian wmpany. However. any
arrangements and activities affeding the UK charily are also subject lo the oversight and review of the board of
trustees of The Heart Research Institute (UK). In particular, new fundraising Programs require the specific approval
of the trustees who will meet as a board to consider and vote on such proposals.
Trustee indu¢tlon and tralnlng
The charity has espoused a policy of providing new tnjstees with whatever information and assistance is necessary
lo help them fulfil their responsibilities under both the Companies Acl 20Q6 and Iheir roles under relevant legislation
and regulations affecting the organisation as a charity. Tha procedurés adopted include providing new trustees with
a copy ol The Essential Trustee". what you need to know supplied by the Charrty Commission lor England and
Wales which describès the roles and rèsponsibilitie$ ol trustèès. as well as a copy ol the company's constitution.
The Iruslees are a150 enctsuraged lo visrt the website of the rhanty commission lor règular updates or changes to
legislation and guidelines. Ongoing information updates along with regular ¢ommunication between The Heart
Research Inslilule Ltd management and the Iruslees ensures kn¢)wledge and information ¢UfTon¢y.
Relatèd part[89
The charity is a wholly owned subsidiary of The Heart Research Institute Ltd. an Australian ¢harity which runs heart
research programmes and which has built up expertise in the field5 of both running a chaiity and fvndiaising in this
area. The objects of the charity las outlined abovel are compalible with The Heart Research Institutè Ltd and both
are committed to the promotion and support of research and the advancement of education in th15 area. The Heart
Research Institute Ltd assists the charily by prowding it with the services and support it needs to successfully
operate and raise funds in order to support heaf research and educate the public.
The Heart Rèsèarch Institute has a presence in Scotland. Our scientists are working across a number of research
areas to idenlfy laclors that contribute to an inuease risk of heart disease. Understanding the underlying causes of
heart disease is the kéy lo finding a solution.

THE HEART RESEARCH INSTITUTE (UK)
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORTI {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Auditor
In awordanee with the cornpany s articles. a resolution proposing that Azets Audit Services be reappoinied as
audilor of the company will be put al a General Meeting.
The Trustees repo
was approved by the Board of Trustees.
Mr A W Pollitt
Date".

THE HEART RESEARCH INSTITUTE (UK)
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees, who are also the directors of The Heart Research Instittrte IUK) for the purpose of company law. are
responsible for preparing the Trustees Report and Ihe financial statements in accordance with applicable law and
United Kingdom Accountin9 Standards (Unitèd Kingdorn Generally Accepted Accounting Praclicel.
Cornpany Law Tequires the fruslees lo prepare financial slalements for each financial year which give a true and
fair view of the slate of affairs of the The Heari Research Institute IUKI and ol the incoming rèsources and
application of reSoUr￿s, including the income and expendrture, of the charitable company for that year.
In preparing these tinancial statemènts, thè Trusteès 8re requi￿d lo.
select suitable accounting policies and then apply them consislenlly..
observe Ihe methods and principles in the Charities SORP.,
make judgements and estim*es that are reasonable and prudent".
slate whèther 8pplie8ble UK A¢￿untIng Sland8Tds have been fcdlowed, subject lo any material departuras
disclosed and explained in Ihe financial statements., and
prepare Ihe financial statements on the going concern basis unless it is inappropriate to presume that thè The
Heart Research Institute IUK) will continue in operation.
The Trustees are responsible foi keèping adequatè aecounling ieeord$ that disclosè with reasonable accuracy al
any time the financial position of the The Heart Research In51ilule IUKI and enable them lo ensure that the financial
51alemenls ctsmply wrth the Companie5 Act 2006. They are a150 responsible for safeguarding the assets of the The
Heart Researth In51ilute (UK} and hence for taking reasonable steps for the prevention and detection of fraud and
other iffegularilies.

THE HEART RESEARCH INSTITUTE (UK)
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE HEART RESEARCH INSTITUTE (UK)
Opinion
We have audited the financial slalernents of The Heart Research Inslilule IUKI Ilhe 'The Heari Re5earGh Institute
IUKI'I for Ihe year ended 31 Decembei 2024 which compiise the statement of financial aclivilies the balance sheet.
the Slalefflenl of cash flows and notes lo the linanc￿81 Slalemenls, including significant accounting policies. The
financial reporting framework Ihal has been applied In Iheii preparation is applicable law and United Kingdom
Aecounlillg Standards, induding Financial Reporting Slandarfl 102 Tl?e Fiiiaiicial R8POrting Slaiidard applicable in
Ihe UK and Republic of Ireland Iunilecf Kingdom Generally Accepted Accounting Pr8Cticel.
In our opinion. the fin3nci31 st3temenls-
give a true and fair view of the stsle of the charitable company's affair5 85 al 31 December 2024 and ol 115
incoming resources ancl application of resource5. for the year then ended..
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.
and
havè been prepa￿d in accordance with the requirements of Ihe Companies Act 20(￿.
Basis for opinlon
We conducted our audit In attofdance with Intèrnational Standards on Auditing IUKI IISAS IUKII and applicable
law Our responsibilities under those standards are furiher described In Ihe Autlilorfs ￿$[jOnsIbilI11es for the aiidif of
the financial stalemeiits section ol our report. We are independent of the cttarilable company in accordance with Ihe
ethical requiremenls Ihal ale relevant lo our audit of the financial slaiefflenls Iii Ihe UK. Including the FRC s Ethical
Standard, and we have fiilfilled our other ethical responsibililie5 In accordance wilh these requ1￿MentS. We believe
that the audit eviden￿ we have obtained is suffici&nl and appropriate lo provide a ba515 for our opinion.
Collclusions relatlllg to going concern
In auditing the financi01 statements. we have concluded that the Trustees use of the going concern basis of
acoounling in the preparation of the financial slalemenls is appropriaie.
Based on Ihe work we have performed, we have not Idenlified any material uncertainties relating lo events 01
conditions Ihal individkJ8lly or collectively. may casl significant doubl on the The Heart Research Inslilule IUKI'S
ability lo Continue as a going concèrn lor a period of al leasl Iwelve monlhs from when the financial slatemenls are
aulhonsed for issue.
Our responsibilil*es and the responsibilities of the Trustee$ wilh respect io going concern are described in thè
relevanl sections ol this report.
Other infomiation
The other informalion comprises the Inforrnalion included in the annual report other than the financial statements
and our auditor's report Iheieon. The Truslees are responsible lor the other information containeL% wilhin ihe annual
report. Our opinion on the financial staiernents does not Cover Ihe other Infofmaiitsn and we do not express any form
ol as$vran¢e conclusion Ihereon Our responsibility Is lo read the olhei information and, in doing so, considei
whelhei the other information Is Tnaterially inconsislenl wilh the f5nancial sialemenis or our knowledge obtained In
the course of the 8udil or otherwise appeals lo be materially misslaled. If we Identify such material inconsisiencies
or apparenl material misslalemenls. we are required to deiertnine whelher this gives rise lo a material rnisslalemenl
In the financial 51alemenlS Ihernselves. If. based on the ivork we have pertormed, we conclude Ihal Iheie is a
rralerial misslalemenl of this other information. we are required lo reporf Ihal f3cI.
We have nothing to report in this regard
Matters on whlch we are requSred to report by exception
We have nothing lo report In respeci of the following malleis In relation lo which the Charities (Accounts and
Reports) Regulations 2008 require us to repon lo you If, in our opinion.
the Information given In the financial statements is inconsislenl In any material respect with the Trustees
report. or
sufficient accounting records have not been kept. or
the financial slalelnenls are not in agreement with the accounting records-. or
we havè noi received all the information and explanations we require for our audit.

THE HEART RESEARCH INSTITUTE (UK)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE HEART RESEARCH INSTITUTE IUK)
R•$pon$ibilrlies of Truste
As explained MO￿ fully in the slaleTnenl of Trustees responsibilities. ihe Tiustees. who are also the directors of the
The Heart Research Institute IUKI for the purpose of company law, are responsible lor the preparation of the
finanaal statements and for being satisfied that they give a true and fair view, and lor such inlemal control as the
Trustees determine is necessary to enable the preparation of financial statemenis th81 are free from malerial
misslalernent, whether due lo fraud or èrror. In préparing the finan¢tal statements. the Trustees are responsible for
assessing Ihe The Heart Research Inslrtule IVKI'S ability lo continue a5 a going concern. disclosing. as applicable,
matters related to going concein and using the going concern basis of accounting unless ihe Trustees either intend
to liquidate the ehant8ble company or lo cease operations. or have no realistic alternative but to do so.
Auditorfs rosponslbilities for thè audlt of th• finan¢lal $tat•m¢nts
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulations madè or having effect thereundtrr.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatèmènt, whether due to fraud or error. and lo issue an audrtor's report that includès our opinion.
Reasonable assurance is a high level ol assurance but is not a guarantee that an audit conducted in a¢¢ordance
with ISAS IUKI will always detect a material misslatement when it exists. Misstatements ¢an aiise from fraud or
error and are considered malerial rf, individually or in the aggregate. they could rèasonably be expected lo influence
Ihe economic decish)ns of useis taken on thè basis of thesè financial slalemenls.
A furiher description of our ￿spOnSIbIlItIeS is available on the Financial Reporting Council's websit• at.. http$..11
www.Ir¢.org.uklau¢Jiltsrsiesponsibilities. This description forms part of our auditorfs report.
Extent to which the audit was consid•r•d eapablè of d•t•etlng IrrÈgularltiè$. rncluding froud
Irregularities. including Iraud, are instances of non-eompliance wrth laws and iegulalions. We design pro(%dures in
line with our responsibilities, outlined above and on the Finanr4al Reporting Council'5 website, to delect material
misstatements in respect of irr8gulaiilie5. induding fraud.
We obtain and update our understanding of the entity. ils activrties, its control environment, and likely fulvre
developments. including in Telation to the legal and regulatory framework applicable and how the entity Is complying
with that framework. Based on this understanding, we identrfy and assess the risks of matèiial misslalement of the
financial 51aternents, whether due to fraud or error. design and perform audrt procedures responsive lo Ih03e risks,
and obtain audit ewdence that is suffiaènt and appropriatè lo provide 3 basis foi our opinion. This indudes
consideration of Ihe risk of acts by the entity Ihal wèrè contrary lo applicable laws and regulations. including fraud.
In response to the risk of irregularities and non-¢omplian¢e with laws and regulation5. including fraud, we deS￿ned
proceduies which included.
Enquiry of management and Ih05e charged with govemance around actual and potential liligalion and
daims as well as actual, 5U5pected and alleged fraud.,
Reviewing minute5 of rneetings ofthose charged with governan￿..
Asse55ing the extent of cornpliance with the laws and regulations considèi¢d to have a direct material
effect on the financial statements OT the operations of the entrty through enquiry and inspeetion,.
Reviewing financial slalemenl disclosures and tesling lo supporting documentation lo assess compliance
with applicable laws and regulations",
Performing audit work over the risk of management bias and ovemde of controls. incjuding le5ting ol
journal entries and other adiustmenls for appropriateness. evalu8ling the business ralionale of significant
transactions outside the nomal eourse ol businèss and ieviewing accounting eslirnates for indicators of
potents'al bias.
Because of the inherent limrtalions of an audit. there is a risk that we will not detect all irregularities, induding those
leading to a mateii81 misstalemenl in the financial statements or non-compliance with regulation. This risk
increases the more that cornpliance wrth a law or regulation 15 removed frorn the events and transactions reflécted
in the financial slalemenls. as we will be le55 likely to become aware of InStan￿S of non-compliance. The risk of
not delecling a material misslalement resulling from fraud is higher than for one resutting from error, a$ fraud may
involve ¢ollusion. forgery. intentional omissions, misrepresenlalions. or the override of intemal control.

THE HEART RESEARCH INSTITUTE (UKI
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE HEART RESEARCH INSTITUTE (UK)
Use of our report
This report is made solely lo Ihe charily's Irusiees as a body. In accordan￿ with part 4 of ihe Charities (Accounts
and Reportsl Regulations 2008. Our audit work has b2en undertaken so th81 we rnight slate lo the chaiity s Iruslees
Ihose mallers we are required lo slate to thèm In an audiloi's repoil and for no other purpose. To Ihe fullest exlenl
peimitled by law, we do not accept or assume responsibilily lo anyone other than Ihe charity and the charity s
Iruslees as a body. for our audit work. for this report, or for the opinions we have forme(J.
Mr Mark Jackson FCA DChA Isenior Sta￿tOry Audilorl
for and on behalf of Azets Audit Services
Chartered Accountants
ststutory Auditor
Weslpoint
Lynch Woott
Peierborotsgh
Cambridgesbire
Uniied Kingdom
PE2 6FZ
Aze15 Audil Services Is eligible for appoinltnenl as auditor of Ihe The Heart Reseaich In51ilule IUKI by virfue DI ils
eligibility foi appoinlrnenl as auditor ol a company under section 1212 of the Companies Act 2006.

THE HEART RESEARCH INSTITUTE (UK)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted Unrestrictsd
funds
fund$
general deslgnat•d
2024
2024
Total
Unrgstrlct•d Unr•strletèd
funds
funds
general designated
2023
2023
Total
2024
2023
Not*¥
Incom• from:
Donations and
legacies
Other trading
activrfies
Investments
421.688
421.688
441,958
441.958
248.413
164,106
248.413
164,106
257.635
165.516
257.635
165,516
Totsl incomè
834.207
834.207
865,109
865.109
enditure on:
Raising fvnds
153,020
153,020
273.638
273,638
Ch8iitable activities
171,849
98,795
270,644
437,049
160.798
597,847
Total expendSturn
324,869
98.795
423.664
710,687
160.798
871.485
Net incominglloutgoinyl
rèsourcés ￿tOr&
transfèrs
509,338
198.7951
410,543
154,422
{160,7981
16,3761
Gr055 transfers
between funds
176.2961
76.296
132,992
1132.9921
Nèt Incom•llèxp•ndltyrel
for thè yèarl
N•t mov•m•nt in funds
433,042
122.4991
410,543
287,414
1293,7901
16.3761
Fund balances al 1 January
2024
2.754.929
314,0(￿ 3,068,935
2,467,516
607,795 3.075,311
Fund balances at 31
Oecember 2024
3,187,971
291,507
3,479,478
2.754,930
314.005 3,068,935
The slalement of financial actlvtl￿3S includes all gains and losses recogniseil in the year.
All income and expenditure derive from ¢onlinving 8¢1ivilies.
Thè slatement tsf financi818clivilies also complies with the requirements for an income and Èxpènditure account
under the Companies Act 2006.

THE HEART RESEARCH INSTITUTE (UK)
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note3
Current assets
Deblors
Cash al bank and in hand
11
23.828
3,695.436
28,445
3.424,056
3.719,264
3,452.501
Creditors.. amounts fallln9 due wlthln
one year
12
1239,7861
1383,5661
Nel cuttenl assets
3,479,478
3,068.935
Income funds
Unrestricted funds
Designated funds
General unresliicled funds
13
291,507
3.187,971
314.005
2,754.930
3.479.478
3.068.935
3,479.478
3.(￿8 935
The corrpany Is enlilled lo Ihe ex&rnplion from the audrt reouifemenl conl8ined In se¢lion 477 of ihe Cofnpanies Acl
2006. for the year ended 31 De￿mber 2024. although an audit has been carried out under seclion 144 of the
Charities Act 2011.
The directois acknowledge their responsibililie5 for complying with the requirerTrenls of the Companies Act 2006
with respect lo accouTrling records and the preparation of finanual $131ements.
The members have not required thè company to oblain an audil of Ils financ131 slatements under the requirements
of the Companie5 Act 2006. for the year In queslion In accordance with section 476.
These financial statements have been prepared in ac¢oidance with Ihe provisions applicable lo companies subject
lo the small companies regime
The financial 5tateffl8nls were approved by the Trustees on
Mr A W Polliti
Trustee
Company règistration r7umbgr 0593597S
10

THE HEART RESEARCH INSTITUTE (UK)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 310ECEMBER 2024
2024
2023
Not•s
C•sh tlows from op•ratlng a¢￿VId•S
Cash generated fromllabsorbod by)
operabons
16
107,274
1218,0831
Investlng actlvlde8
Invgslmenl income recelved
164.106
165,516
Net cash generated from Inv•8tlng
activit1•8
164,106
165.516
N•t ¢a•h u••d In fin•n¢ing *Ctiviiles
Ngt Sncr•as•l{d•cr•as•l In cash and ¢ash
•qu5v•l•nts
271,380
(52,5671
Cash and cash •qUiv￿Qnts al beglnnmig of yèar
3.424,056
3,478.823
Ca•h •nd ¢•$h •qulval•nts at •nd oly•ar
3,695,436
3.424,056
11

THE HEART RESEARCH INSTITUTE (UK)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢counltn9 policies
Charity infonnatton
The Heart Research Ii)siilule IUKI is a pnval& company Iimiied by guarantee incorporated in England and
Wales. The registered office Is Bankside 300, Peachman Way. Broacsland &u51ness Park. Nonwich, Nortolk.
NR7 OLB. United Kingdom.
1.1 AccountiThg convention
The financial statements have been prepared In accordanee with the The Heart Research Institute IUKI'S
arti¢les of associalion, Ihe Companies Act 2006, FRS 102 'The Financial Reponing Siand3rd applicable In
Ihe UK and Republic of Ireland. I'FRS 102 1 and the Charities SORP"Acwunting and Reporting by Charilies
Slatefflenl of Recommended Practice 8pplicable lo charities prep3ring their accounts In accoidance with the
Financial Reporting Standard applicable In the UK and Republic ol Iieland IFRS 1021" leffeclive 1 January
20191. The The Heart Research Institute IUKI is a Public Benefit Entity 35 defined by FRS 102.
The finanual 5talemenls are prepared In sterling, which Is the lunclional Cufrency of the The Heart Research
Institute IUKI. Monetary amounls in Ihe5e financial slalèmenis are rounded lo the nearest £
1.2 Goin9 concern
The charity has generaied sufficient Iin3ncial iesources from Its aciivities lo allow the Trustees lo believe Ih3t
the chaiily is well placed to manage Ils bu51ne55 risks successfully In the cuirenl economic dirnale.
Accordingly. the Tfuslees have a reasonable expeclalion th81 the charity has adequ81e resources lo continue
in exislence for Ihe foreseeable future, Ihus Ihey conlinLie lo adopt the going ¢on¢ern b351s ol accounting in
prep3ring the financial slalemenls. The financial stalemenls have been prepared on a going ¢tsn￿rn basis
which the Trustees consider 10 be appropri21e for Ihe fcillowing reasons
The business model of the charity IS such that Its chaiilable aclivilie5 ale limited lo those which il has sufficient
ui)#s lo support from Ihe excess of funding received over the costs ol administering the chaiily The charity
therefore has no 5pecffjic commiimenls and committed costs beyond Ils fixed costs of operation.
The Trustees have reviewed Ihe cash flow loiecasls for a periocl of 12 months Irorn the dale of approval of
these financi31 slal&menls which Indieaie that Ihe charity will have sufficient funds lo meel Ils Iiabililies as they
fall due lor thai period.
Conseouenlly. the Trustees are confident that the charity will hav& sufficient funds lo continue lo meèl Ils
Iiabililie5 as they 1311 due al le3sI 12 months from the dale of approval ol the fiDaTTrcial slalements.
1.3 Chaiitable funds
UnTeslricled funds are available loi use ai ihe discretion ol Ihe Trustees in fvrtherance of their charitable
objectives
Desigi)3ied funds compnse funds which have been set aside 31 the ¢iscrelion of Ihe Truslees for specific
purposes The purposes 2nd uses of Ihe designated funds are sel out in the notes lo the financial Slalemenls.
Reslricled funds are subieci to specific conditions by donors as to how they may be used The purposes and
uses of Ihe reslncted funds are set oul In the notes to the financial slalemenls
1.4 Income
Income Is recognised when the The Heart Research Institute IUKI is legally entitled 10 Il after any performance
conditions have been rnel. the smounis can be measured reliably. and Il is probab￿ that Income will be
received
12

THE HEART RESEARCH INSTITUTE (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policrwts
lcontinuedl
Voluntary In¢om•
Donations are 9èneraled through the pledge program actmty are included wilhin incoming resOur￿S when
probable.
Other income
Other income, including interest income, are indud9d within incoming resources when probable.
1.5 Expenditure
Expenditure 15 recognised once there is a legal 01 ConStrL￿tlve obligation to transfer economic benefrt lo a
third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Costs of generating voluntsry In￿Me Include expenditure associated with the activities undertaken by the
harily lo generate such income. such a5 the pledge programrne.
Fundraising expenditure includes expendilure associated with the setting up and running the lottery a¢tivilies
undertaken by the charity and consisls of the direct costs relating to thèse actiwti8s.
Grants payable are included within the stètèmant of finan¢ial a¢tivities when approved by the trustees and
agreed with the rècipient unlèss there ale restrictions of future funding that allow the charity lo withdraw the
funding at theii discretion.
Govemance c0515 indude expenditure incurred in the govemance of the charity and its assets. These are
primarity a550cialed with the constitutional and slalulory requirements.
1.6 Cosh and cash equivalents
Cash and Cash èquivalents include Gash in hand, dep05rt5 held al call with banks, other short-lerm liquid
investments with original malurilies of three months or less. and bank overdraft5. Bank overdrafts are shown
within borrowings in current Iiabilrties.
1.7 Financial instruments
The Heart Research Instrtute IUKI has elected to apply the provisions of Section 11 'Basic Financial
Instrutnents. and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the The Heart Research Institute IUKI'S balan￿ sheel when the The
Heart Research Inslrtule IUKI becomes party to (he contractual provisions of the instrument.
Financial assets and liabilities are offset, with the nel amounts prèsènted in the finanoal statements. when
there is a legally enforceablè right to sèt off the recognised amounts and the￿ 15 an intention lo seltle on a net
basis or to realise the asset and settle the liability simultaneously.
8asi¢ financial a55ets
Basic finanual assets, which include debtors and ¢ash and bank balan￿5, are initially measured at
transaction price Induding tr8n$8Ction costs and arè subsequently carried al amortised cost usin9 the effective
Interest méthod unle$$ the ariangernenl wnslrtules a financing transaction. where the transaction is
measured al the present value ol the future rerRipls discounted al a market rale of interest. Financial assets
classified as receivable within one year are not amortised.
13-

THE HEART RESEARCH INSTITUTE (UK)
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policie$
Icontifiuedl
Basic financial liabilities
Basic financial liabilities, including crediiors and bank loans ale Initially fe¢ogniseO al transaction piice unless
the arran9emenl constilules a financing Iransacliorl where Ihe debt Instrument Is measured al the piesenl
value ol the future paymenls discounted al a maikel rate o11nleresl. Financial Ii?bililies classified as payable
wilhin one y&3r are nol amoflised.
Debt Instrumen15 ar& subsequenlly Carried al amomised cost, using the effective inleresl raie melhod
Trade creditors are obligations lo pay for goods or services Ihal have been a¢quired in the ordinary course ol
operations from suppliers Arnounls payable are classified as current liabilities If payment is due within one
year or less. If not, they are presented as non-currenl liabilities Trade creditors are recognised initially al
Iransaclion price and subsequently ffleasured al amortised cosl using the eftective Inleiest melhod.
Dere¢ognition of financial liabilities
Financial liabililies are derecognised when The Heart Research Inslilule IUKI'S contiaclual obligalions expire
or are discharged or cancelled.
Critical accounting estimates and judgement$
In the applicalK>n of The Heart Research Institute IUKI'S a¢counling policies, Ihe Trustees are iequiièd lo
make judgemènts. estifflales and assurnplions about Ihe cairying atnount of 8Ssels and Iiabililie$ Ihal are nol
readily apparent from other sourtss. The eslimales and associ31ed assumptions are based on historical
expellen￿ and other factors Ihal ale considered lo be relevant. Actual rèsults may differ from these
eslirnales.
The e5tirnale5 8nd underfying assumptions are rèviewed on an ongoing b8sis Revisions 10 accounting
esliinales are iecognised ITI the period in which the estimate Is revised wheie the revision affects only thai
period, or In the peiiod of the revision anrl lulure periods wheie the iev1510n affects both current and fulure
period5.
Dorbations and legacie$
Unrestricted ijnrestricted
funds
funds
gèneral
general
2024
2023
Donations and gifts
421,688
441.958
Donations and gifts
General donations
Pledge program donations
50,804
370.884
40.519
401.439
421 688
441 958
14

THE HEART RESEARCH INSTITUTE (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Other tradlng a¢tlvlll••
Unr•strlct•d UnMlrf¢tsd
fund#
fund$
general
gtn•rnl
2024
2023
Lott¢ry a¢tivities
248.413
257.635
Inv•Jlments
Unrn•trict•d Unmtrl¢tsd
fund#
fund$
g•neF*l
gen•ral
2024
2023
Inter&sl re￿1vable
164,106
165.516
R•i8ing fund8
Unr•strlct8d UnY••trlcted
funds
fund¥
general
genernl
2024
2023
in
nd
Seeking donation5. grants and logacA8s
Othèr fundraising costs
19.982
133.038
22,011
257.627
Fundraising and publicity
153,020
273.638
153,020
273,638
15.

THE HEART RESEARCH INSTITUTE (UK)
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Charitable activities
2024
2023
Awareness costs
Research costs
17.223
230.581
13.347
548.472
247,804
561.819
Share ol governance cosls (see note 81
22.840
36.D28
270,644
597.847
Analysis by fund
Unreslricled funds general
Unreslricled funds- de5ignaled
171.849
98.795
437 049
160 798
270,644
597.847
Included within Ihe research c051s noled above Is £214 644 12023. £491 1031 ol contributions by the Charity lo
the parent company for research and scientific expenditure. Of this amount £nil 12023 £330.3051 ielale5 10
Ihe esiablishmetil of a fluxomics centre al HRI Austra113 out of unreslri¢led funds
Support and go¥ernan¢• costs
2024
2023
Governance Governance
C05t5
costs
Auditor fees
Leg81 and professional
19.000
3.840
18 900
17.128
22,840
36 028
Chantablè aciivilios
22,840
36 028
Governance costs includes payrnenls lo the audilors of £16.50012023- £15,600) for 8udil fees.
Trustees
None of the Trustees lor any persons (x)nnecled wilh Iheml received any femuneraiion or beneti15 from the
The Heart Research Institute IUKI during the year
10 Taxatron
The chaflty Is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Ta¥alionof Ch3rgeable Gains Act 1992 to the 8xlenl Ihal these are applie¢ lo ils charitable objects
16

THE HEART RESEARCH INSTITUTE (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11 D•btor•
2024
2023
Amounts falllng due wlthln on• y••r:
Other debtors
Prepayments and a￿ru¥d irKom•
16,142
7,688
17.461
10,964
23,828
28,445
12 Cr•dltors: amounts lalllng du• wlthln ono y•ar
2024
2023
Not••
Acw8d grant expenditurg
Trade creditors
Amount owed lo Po￿nI undertaking
Accruals and defe￿ed incom&
136,399
50.601
33,765
19,021
247,163
91.184
26,022
19,217
239.786
383,566
13 D••lgnit•d fund•
The income funds of the charty indude Ihg foll¢)wing designated fvnds whi¢h have been Set aslde oul of
unreslrfctgd funds by th• trustees for specific purposes:
8￿•￿¢• •t R••4)UY¢
I hnu•ry 2023
•xpMdqd
Tr•n•f•rn
B•l•n¢•
1 J•nu•ry 2024
RMour¢
•Ap•nd•d
Tr•n•f•rn
31 D•egmb•r
2024
Coll8borator
contracts
Funding
eommilled for
parent
company
79.529
179,5291
528,266
{160.7981
153,4631
314.005
196,7941
76,298
291,507
607,795
(160,7981 1132.9921
314,005
198,7941
76,296
291,507
Tho d•signated funds represent grants that have been sel aside by the Btsard for inlemal programmgs not
finalised at th8 yoar end.
17-

THE HEART RESEARCH INSTITUTE (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Analysis of net assèts between fund$
Unrestricted Designated
funds
funds
2024
2024
Totsl Unreslricled Designèied
funds
funds
2023
2D23
Total
2024
2023
Fiirid balances al 31
December 2024 are
represented by.
3 187,971
291.507
3.479,478
2 754 930
314 005
3.068 935
3,187.971
291.507
3,479.478 2.754.930
314 005
3.068.935
IS Related party transactFons
The followii)g amounts were Dulslaiiding al the feporting end dale
Amounts owed to related
parties
2024
2023
Balan￿ due lo The Heart Research Limited,
Ihe ullimale parenl company
33.765
26.022
33,765
26.022
16 Cash generated frorn operztions
2024
2023
Surplu51ldeficill for the year
410,543
16,3761
Adjustmen15 101
Investrnenl income recognised In statement ol financial aclivilies
1164 7061
1165.5161
Movements in working capital..
Decrease In deblors
IDecre88el In creditors
(Decreasellincrease in (leferieij Income
4.617
133.0161
1110.7641
36.070
1329.4241
247.163
Cash generated fromllabsorbed by) operations
107,274
1218.0831
18

THE HEART RESEARCH INSTITUTE (UK)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2024
17 Ultlmate paront company
The cornpany's ultirnate parent company, both this year and th• pr8vtou$ year. was The Heart Re5earc*
Inslilut8 Ltd. a ￿mpanY incorpoialed in Australia. As sud). these financial sl*emenls wlll be consolidaled
within thi$ entity. The He8rt Research Institute Ltd 18 located at the following addres8.'
7 Eliza Slreet
Newtown
NSW 2042
Australia
18 Controlllng Int•rn•l
The company is ullima181y conlroll8d by The Heart Resgar¢h In$lilule Lld both this year and the previous year.
19-