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TRUSTEES REPORT +
FINANCIAL STATEMENTS
For the year ended 31 December 2015
Heart Research UK is a visionary charity that leads the way funding ground breaking,
innovative medical research projects at the cutting edge of science helping with
the prevention, treatment and cure of heart disease.
There is a strong emphasis on supporting clinical and surgical projects and young researchers
on their first steps into research.
The charity also encourages and supports original healthy lifestyle initiatives that explore
novel ways of preventing heart disease in all sectors of the community.
Message from Heart Research UK
our Chairman TRUSTEES
As we approach our 50th
anniversary, Heart Research UK
has continued to make steady OBJECTIVES OF
progress. We are funding 28 HEART RESEARCH UK
medical research projects in the promotion and furtherance of medical research into the
19 centres across the UK; five prevention, treatment and cure of heart disease and related
conditions including practical help with the prevention and
more than last year, giving a treatment and the rehabilitation of those with such diseases.
wider geographical spread.
Our Masterclass gave ten young consultants
the opportunity to learn from experts from
ACHIEVING OUR
the Liverpool Heart and Chest Hospital and CHARITABLE OBJECTIVES
take back expertise in major aortic surgery Helping hearts with pioneering medical research and building expertise
Anthony Knight to other UK hospitals. One senior trainee
Chairman of the will start an Aortic Surgery Fellowship in
Board of Trustees Liverpool in 2016.
TRP grants 454K
The Charitys aspiration to give children either, with congenital heart
problems or following surgery, the chance to keep their hearts healthy GRANT NET grants 184K
became a reality with the final touches having been put to the toolkit
piloted at paediatric heart centres in 2015. The next step will be a PROGRAMME Trustee discretionary grants 50K
Masterclass in exercise prescription. AWARDS Masterclass 25K
Our two largest corporate supporters hit records. Subway, for 858K Aortic Surgery Fellowship 100K
the second year running, donated their highest amount and paid for Childrens Exercise prescription 45k
13 local community grants. DS Smith UK Packaging had nationwide
coverage with their sites taking the Healthy Heart Mark, demonstrating
how seriously the company takes their employees health as well as
safety. HRUK, using the monies raised by both companies, have Heart Research UKs 2015 medical research grant programme fulfilled
funded Healthy Heart activities in communities near their stores the objectives set out in the medical research strategy to:
and sites and helped people live healthier, happier, longer lives.
offer attractive, innovative opportunities
Heart Research UK prides itself on fundraising ethically. We raise and fill gaps in medical research funding
spend our funds solely in the UK; receive no government grants and provide the highest impact
we are one of the few national charities based outside of London. The give value for money
Charity has never and will never knock on doors, stop people in the
street or ring to ask for donations, unless it has permission. The
enhance the Charitys existing good reputation and successes
Charity always approaches people personally and does not use Medical Research grants:
fundraising third parties. We treat people how we would like to be 28 projects at 19 locations across the UK
treated ourselves. HRUK identifies and funds highly regarded pioneering medical research
in the field of heart disease. Grants are awarded following rigorous, gold-
Thanks to advances in treatment, helped by medical research by standard scientific review which ensures that the Charity only funds the
charities like HRUK, more and more people cope with heart disease best research projects in hospitals and universities across the UK which
every day. Our preventative and educational activities help all ages; can last for up to three years.
communities; men and women understand the benefits of living a
heart healthy lifestyle. There are, still, high risk groups, with the The Charity has two grant rounds: the 250k Novel and Emerging
inability or lack of willingness to change and lead healthier lifestyles, Technologies (NET) grant and 150k Translational Research Project
who need help and our activities are guided by these facts; our aims (TRP) grants which always attract high standard applications.
and objectives and public benefit.
Medical research grants awarded in 2015
We pay for pioneering medical research and unique Healthy Heart
Grants; educate the experts of tomorrow and give youngsters the help Novel & Emerging 45 outline, 15 full
they need to keep their hearts healthy in centres across the UK, living Technologies applications Prof Andr Ng, University of Leicester
up to our aim raised by you, spent near you. All this clearly Grant (NET) 1 award: 184k
demonstrates benefit to the current and future wellbeing and good Dr Nicolette Bishop, Loughborough
health of the general public. The full impact of these benefits may not University and University Hospitals
be known for some years, but the furtherance of scientific knowledge Translational
of Leicester NHS
and clinical practice is on-going and of current value. 19 applications Prof Annette Graham, Glasgow
Research
4 awards: Caledonian University
Project Grants
All our achievements in 2015 have demonstrated that we are the UKs 454k
(TRP) Dr Faisel Khan, University of Dundee
national local Charity, helping hearts near you. This would not be Prof Ken Suzuki, William Harvey
possible without our hard-working staff, along with the help of our Research Institute, London
medical researchers, community champions, Ambassadors and Mr David Barron, Birmingham Childrens
Trustees
supporters. It is their commitment and dedication that has made 2 awards: Hospital and the University of Birmingham
Discretionary
Heart Research UK the well-respected, pioneering Charity helping 50k
Awards Prof Alistair Hall, Leeds General Infirmary
hearts across the UK.
REPORT FOR THE YEAR ENDED
31 DECEMBER 2015
Applications for medical research grants made outside of the normal
grant rounds, which are considered to be of such special importance to
HRUKs aims and objectives as to warrant funding, are reported directly
to the Board of Trustees. Such applications undergo external peer review
as well as consideration by the appropriate sub-committee and internal
review from individuals on the Medical Research Panels (MRPs). This
system fulfils a need to deal with exceptional ad hoc requests and are
treated as Trustee discretionary awards.
HRUK is a member of the Association of Medical Unique Masterclasses helping hearts near you
Research Charities (AMRC) and its medical HRUK Masterclasses were introduced in 2012 to give clinicians the
research strategy, peer review and terms and opportunity to learn about the best techniques and latest treatments,
conditions conform to AMRC for use at their own centres around the UK. A second successful Aortic
recommendations. Every five years, the AMRC Surgery Masterclass was held at the University of Liverpool, led by the
carries out an audit of all members grants- consultant cardiac surgical team from the Liverpool Heart and Chest
selection processes, enabling both AMRC and Hospital.
members to demonstrate a commitment to the
highest standards of accountability and probity Accredited by the Royal College of Surgeons of England, the course gave
in allocating grants for research. HRUK passed the 2015 audit and 14 consultant cardiac surgeons and senior trainees in cardiac surgery the
received a certificate of best practice in medical and health research unique opportunity to gain hands-on experience of total aortic arch
peer review. We are indebted to all our reviewers as, without their replacement, supervised by an expert faculty. Aortic arch surgery is not
help, HRUK could not have such a robust and often encountered by the majority of cardiac surgeons. Patients across
thorough peer review system. the country will benefit as more surgeons gain the expertise to carry out
this lifesaving operation.
Researchers are required to submit annual progress reports which are
reviewed by the relevant MRP. Final reports from completed projects are First HRUK Aortic Surgery Fellowship
assessed by an MRP and outcomes are reported to the Board of For the first time, HRUK awarded a 12-month Aortic Surgery Fellowship
Trustees. Grants are paid upon receipt of an invoice from the research in Liverpool for a specialist senior trainee to learn from experienced
institution, after receiving the required reports. Researchers are consultant cardiothoracic surgeons and give unparalleled experience
required to give details of the dissemination of their research and to in different major aortic operations. Major aortic surgery is a highly
keep the Charity informed of any intellectual property matters which specialised and complex field. The Thoracic Aortic Service at Liverpool
could lead to opportunities for commercial exploitation. Heart and Chest Hospital NHS Foundation Trust is the largest of its
kind in the UK and is renowned for its expertise in this specialist
Exercise prescription for children with field of surgery.
congenital heart disease
Heart Research UK is especially proud that its determined campaign to Sharing our success
encourage children born with congenital heart disease to keep their It is essential for medical research findings to be published in scientific
hearts healthy with exercise has received UK-wide acclaim. journals so that scientific discoveries can be shared with other
researchers and advance scientific knowledge. It also gives the work
At present, adults are routinely offered advice and rehabilitation credibility and demonstrates the quality of the research. HRUK-funded
following heart problems, children are not. The Charity has, through a projects which ended in 2015 resulted in 31 publications in journals
grant awarded for a Research Fellow at Exeter University, developed a including the British Medical Journal, European Journal of
toolkit for children, their families and carers, as well as clinicians. Cardiothoracic Surgery, Heart, Blood, Cardiovascular Research,
Pharmacology & Therapeutics and International Journal of
These toolkits provide pioneering exercise guidance for youngsters to Cardiovascular Imaging.
keep heart healthy. They also offer improved paediatric heart patient
management using an individually-tailored exercise prescription. During Their work may also lead to researchers presenting their findings to other
2014, the Charity piloted the toolkit and prescription in Bristol, Cardiff, scientists at conferences internationally as well as in the UK. In 2015
Leeds, Oxford and Swansea. Feedback was analysed and there were 35 presentations by our grantholders at scientific
recommendations have been incorporated into the final toolkit. conferences in the UK, Austria, France, The Netherlands, Spain,
Undoubtedly, the toolkit is a success but the most positive feedback is Canada and Singapore.
on the impact of the unique prescription. It is invaluable in giving all
those using it, the level of activity needed to help keep the youngsters Helping hearts in schools, at work and in the community
heart healthy and, importantly, guidelines for home, school and at play. Healthy Heart Grants (HHGs), schools talks, health fairs, workplace
initiatives, including the Healthy Heart Mark, website pages and literature
The Charitys ultimate aim is to make a childrens exercise prescription fulfil our objective of practical help with the prevention and treatment
common practice and available across the NHS in the UK. and the rehabilitation of those with such diseases.
Even though the messages about living a healthy lifestyle, especially HRUK / SUBWAY Healthy Heart Grants:
healthy eating, being active and not smoking are available from many 2009 - 2015 538k
sources and well-publicised, it appears that they are not having the 13 grants in 2015 totalling 110k
desired effect. The direct link of lifestyle to cardiovascular disease
(CVD) is well-established and these trends continue to be a major
problem in the UK. HRUK is playing its part, trying to overcome ingrained Scotland 40K Midlands 44K
habits and attitudes, to combat heart disease. Northern Ireland 50K East Anglia 33K
SUBWAY
Our Healthy Heart activities do not give general healthy living advice; HHGS Wales 54K London 40K
they disseminate dedicated heart advice and information that impacts 2009 -2015 North East 38K South 78K
on all ages; diverse communities; public and private workplaces and
the general public. Many of our HHGs work in partnership with other 538K North West 51K SouthWest 66K
charities and voluntary organisations, providing valuable expertise and
experience to promote our Healthy Heart message. Over 27,800 Yorkshire 44k
children have heard the Healthy Heart message during 2015 and
up to 200,000 employees were encouraged to live Healthy Heart
lifestyles in 2015. HRUK / SUBWAY Healthy Heart Grants awarded in 2015
174 applications
HRUK Healthy Heart Grants awarded in 2015 245 applications Sova Love Hearts: SOVA, Sheffield 4.5k Youths
Heart Research UK has built more relationships with local, London and
national media who now contact the Charity more often for comments,
articles and case studies with big increases in the number of published
articles. This is also the case in Scotland and Northern Ireland.
Medical Technology Group A highlight of 2015 were new events as diverse as skydiving from 12,000
HRUKs National Director, Barbara Harpham, continues to generate feet to swimming the channel in your local pool with 5k coming from
interest in the Charity through her Chairmanship of the Medical these new challenging events.
Technology Group, a coalition of patient groups, research organisations,
medical device manufacturers and clinicians set up to promote the
uptake of medical technology. It is seen as an expert group, is often
asked for comment by national media and specialist publications, runs
campaigns on specific topics and regularly engages with
Parliamentarians, the NHS and clinicians. The highlight of the year was
the Medical Technology Week with a Parliamentary reception in the
House of Commons, with MPs, Lords and representatives from the NHS,
charities and other health organisations, chaired by HRUKs National
Director. This role has brought recognition and kudos to the work of
HRUK, especially our research with medical devices.
Most HRUK partners have been associated with the Charity for a number
of years reflecting mutual loyalty, responsiveness and enthusiasm for
the Charitys brand. HRUKs thanks go to all these organisations and
many others for their support.
120K Anne Grainger organised her own events in 2015 and raised 13k for The
86K 64K Mick Grainger In Memory Fund, set up to remember her husband who
100K 90K 90K 90K 4K 18K died following a heart transplant at the Queen Elizabeth Hospital,
Birmingham. Long-time, dedicated supporter, Barry Sawbridge, sadly
80K died in 2015 from heart problems. His family are extremely proud of all
60K his efforts for Heart Research UK in past years and are continuing his
work by raising money for an In Memory Fund to support work in the
40K Leicestershire area.
In Memory Funds 20K Lifestyle 46K The other assets of the Charity, amounting to 724k as at 31 December
2015 2014 (1.13m - 2014), were held mainly as bank and deposit balances to
HRUK Events 145K Legacy 856K
support the Charitys activities.
INCOME Local 77K Investment 161K
RESERVES 2.77m
Corporate 280K Gifts In Kind 28K
The Charitys reserves at the end of 2015 were 2.77m. The balance
held as unrestricted funds at 31st December was 2,639,000, of which
1,803,000 are regarded as free reserves, after allowing for funds tied
Legacies: For the eighth year running, legacy income exceeded the up in tangible fixed assets and a potential reduction of 20% in our
Charitys budget and forms the largest part of its income. HRUK is always investment portfolio. Actual minimum requirements for the 18 months
appreciative of any bequests received, large or small. operating costs totalled 1,229,000. The current level of reserves is
therefore higher than is needed but this figure will reduce in the
Corporate income: Corporate income included a record sum of current year due to the level of grants to be awarded.
150k from Subway Store collections, together with sponsorship
and entry fees from the SUBWAYHelping Hearts Family 5K series
of fun runs.
Reserves policy
The Board continues to believe that it is prudent to maintain reserves to
cover as a minimum 18 months operating costs. It recognises that
holding reserves at an appropriate level also allows the Charity to be Ambassador Paul Silky Jones with Hartley our mascot
seen by its donors, beneficiaries, employees and other supporters as
financially viable and ready for unforeseen circumstances, new
opportunities and planning for the long term. The Board also recognises
that the volatility of the stock market, especially in current market
HOW WE WORK
conditions, can very quickly affect the level of reserves. Accordingly, Constitutional structure
a provision has been made in our reserve calculations for a 20% Heart Research UK was first registered as a Charity in 1967, as the
decrease in the value of its investment portfolio. Reserve levels National Heart Research Fund, and was incorporated in 1995 as a
are reviewed every quarter. company limited by guarantee, registered under No 3026813 and as a
Charity in England and Wales under no 1044821. It has the working
Conflict of interest policy names of HRUK and Heart Research.
The Charity has a conflict of interest policy applicable to all Trustees,
members of Trustee sub-committees and staff. This policy aims to Related companies
protect both the organisation and the individuals involved from any The Charity has one wholly owned subsidiary company, HRUK Helping
appearance of impropriety. All Trustees, members of Trustee Board Hearts Limited (No 1562684).
sub-committees and staff are asked to declare their interests and any
gifts or hospitality received in connection with their role in HRUK. A Public benefit
declaration form is provided listing the types of interest to declare. The Trustees have taken account of the guidance on public benefit
This declaration is updated annually at meetings where the conflict of issued by The Charity Commission. This guidance on public benefit
interest arises and when changes occur. Interests and gifts are recorded underpins the Charitys activities across the UK. Activities to carry out
on the Charitys register of interests maintained by the Company our aims and objectives for the public benefit may not have immediate
Secretary. The register can be accessed by all Trustees and senior staff. effect or be experienced for some years but the addition to current
scientific knowledge and clinical practice is on-going.
Diversity
The Charity continues to strive to ensure equal opportunities and A summary of the activities that the Charity provides that are considered
diversity in all aspects of employment and its charitable activities. This to be for the public benefit is as follows:
includes equal opportunities policies in employment and recruitment
for all suitably qualified people and volunteers as well as open and Medical research with project grants, scholarships and travel
transparent grant making policies and objectives. for dissemination of the research results
Masterclasses for clinicians to learn new techniques, expand
The Charitys website is accessible for those with visual impairment their knowledge, increase their expertise and give better care
and its leaflets are available in larger print upon request. to patients
The development of exercise prescription for children after heart
Ethical fundraising surgery or with a lifelong condition
Heart Research UK is very conscientious about self-regulation of Healthy Heart initiatives including Healthy Heart Grants, Healthy
its fundraising activities and protecting vulnerable people. All staff Heart lifestyle checks, encouraging Healthy Heart workplace
are aware and adhere to The Institute of Fundraising Code of activities, school and adult talks and focused Healthy Heart
Fundraising Practice which sets out statutory obligations and best weeks in specific areas
practice standards. Guidance is also given to those who fundraise on Raising awareness of heart disease and particular conditions
the Charitys behalf. The Charity is well prepared to comply with the and issues, our medical research and its results
standards or guidance from the proposed new regulator and Partnerships with organisations and companies to promote
additional Charity Commission powers. heart health
The Board of Trustees
There were 14 Trustees in 2015 as listed on page 1. The current Trustees
have a wide range of experience, including business, expertise in medical
research, law, accounting, human resources, marketing and investment
management.
Novel & Emerging Technologies Medical Panel (NETMRP) Induction and training
Reviews novel & emerging technologies grant applications, reports and All Trustees, staff and volunteers take part in a full induction procedure.
grant making process Before becoming a Trustee, potential Board members are expected to
attend Trustees meetings as observers and become a sub-committee
Healthy Hearts Grant Panel (HHG) member to gain experience with the Charity. Induction packs give
Reviews Healthy Heart grants applications and healthy lifestyle detailed information, handbooks, policies and other information
initiatives, reports and grant making process required to carry out their duties.
Healthy Hearts Grant Panel (HHG) Additionally, Trustees, staff and volunteers undertake specific training
Reviews Healthy Heart grants applications and healthy lifestyle (internal or external) in a particular aspect of the skills and duties needed
initiatives, reports and grant making process in their work with the Charity to ensure compliance with all statutory
obligations and best practice.
Finance Sub-Committee
Reviews financial operations and performance against budget Decision-making
Having approved the annual budget, which reflects the strategy, the
Investment Sub-Committee Board of Trustees delegates day-to-day decisions to the National
Formulates investment policy and monitors investments Director. This delegation is monitored by the various committees which
all act under delegated terms of reference and report regularly to the
Audit Sub-Committee Board of Trustees. A decision-making protocol is in place.
Reviews internal financial administration, risk assessment and internal
controls, procedures and accounting policies
Personnel Sub-Committee
Reviews personnel procedures and policies and salaries
GEOGRAPHICAL
GEOGRAPHICAL SPREAD OF HEALTHY
SPREAD OF MEDICAL HEART GRANT
GRANT FUNDING OVER FUNDING OVER THE
THE LAST 10 YEARS LAST 10 YEARS
Pioneering medical Innovative community
research across the UK Healthy Heart Grants
Scotland 937K East Midlands 633K Scotland 114K East Midlands 74K
Nothern Ireland 177K West Midlands 232K Nothern Ireland 81K West Midlands 132K
Wales 278K East Anglia 110K Wales 97K East Anglia 132K
North East 542K London 2.5M North East 74K London 131K
North West 390K South 974K North West 204K South 225K
Yorkshire 2.6M South West 962K Yorkshire 300K South West 131K
Heart Research UK
Consolidated Summary Financial
Information for the year ended 31 December 2015
2015 2014
Trustees Statement
INCOME AND ENDOWMENTS FROM The summarised financial statements above have been extracted
Donations and grants 269,020 375,449 from the full statutory financial statements, which were approved
Sponsored events 378,885 323,069 on 23 June 2016 and which have been submitted to the Charity
Legacies 856,457 988,970 Commission and Registrar of Companies.
Investment income 160,846 165,028 The full statutory financial statements have been audited and
Trading subsidiary 8,940 received an unqualified report from the auditors, Thomas
Coombs, who have also confirmed to the Trustees that the
Total Income and Endowments 1,674,148 1,852,516 summarised financial statements are consistent with the full
statutory financial statements.
EXPENDITURE ON
Raising funds 445,173 434,759 These summarised financial statements may not contain
sufficient information to allow for a full understanding of the
Charitable activities 1,588,012 1,548,164
financial affairs of the Charity. For further information, the annual
Total Resources Expended 2,033,185 2,051,999 financial statements, the auditors' report on those financial
statements and the Trustees annual report should be consulted.
NET GAINS & LOSSES (199,483) (199,483) A copy of the full financial statements, together with the Trustee's
Gains (losses) on investments and auditors' report thereon, can be obtained from the registered
Realised 18,873 13,996 office:
Unrealised (89,126) 54,430 Suite 12D, Joseph's Well, Leeds LS3 1AB.
Net Income/ (Expenditure) (429,290) (131,057) Signed on behalf of the Trustees by A Knight: Date: 23 June 2016
Balances brought forward at 1 January 2015 3,201,587 3,332,644
Balances carried forward at 31 December 2015 2,772,297 3,201,587 Independent auditors report to the
members of Heart Research UK
Consolidated Balance We have examined the summarised financial statements for the
Sheet At 31 December 2015 year ended 31 December 2015.
LONDON
William Harvey Research Institute 88,489
Prof Ken Suzuki - Translational Research Grant
Pre-clinical development of Interleukin-4 as a novel biological drug
for myocardial infarction Leeds Rhinos - Heart of Gold
CONGLETON
Ms Eleanor Morris -
Young Carers Healthy Heart Project 9,360
Carers Trust 4all
CHORLEY
Mr Paul Maloney - The Young@Heart Project 9,678
Freestyle Urban Soccer CIC
MONTROSE
Mr Peter Davidson - Match Fit 7,280
Prof Ken Suzuki - London
Links Park Community Trust
SKELMERSDALE
Kimberly Rowlands -
Captain Heart and the BDS Squad 5,000
BDS Training Ltd
DARTFORD
Mrs Sharon Phillips - HGV MOT 5,000
Healthy Living Centre Dartford
BLACKBURN
Mrs Emma O'Connor - Access Heart Ability 8,486
Access Ability CIC
BRISTOL
Inverness Caledonian Thistle
Mr Ed Norton - Get Your Heart in Gear 6,698
Life Cycle UUK
NEWTON AYCLIFFE
BLACKBURN Ms Susan Sadler - Health Drop In 9,181
Mr David Dunwell - Heart of the Game 10,000 Lifeline Community Action
Blackburn Rovers Community Trust
BELFAST
WARRINGTON Mr Tim Wareing - TW Braga Healthy Heart Warriors 10,000
Mr James Howes - Happy Hearts 8,500 TW Braga
Warrington Wolves Charitable Foundation
LLANHILLETH
Mr Julian Bosley - Cooking for Healthy Hearts 10,000
Llanhilleth Minersonian Thistle Community Development Trust
BRISTOL
Mr Ben O'Sullivan - Beating Heart 10,000
The Songwriting Charity
CALDERDALE, SELBY,
NORTH EAST LINCOLNSHIRE
Dr Nicola Eccles - Environmental Health Prompts 10,000
Community Partners Limited T/a CP Active
Heart Research UK
Suite 12D, Josephs Well, Leeds LS3 1AB
www.heartresearch.org.uk
T: 0113 234 7474 F: 0113 297 6208 E: mail@heartresearch.org.uk
Registered Charity No. 1044821. Registered Office: Suite 12D, Josephs Well, Leeds LS3 1AB
Company limited by guarantee No. 3026813. Registered in England