The British Heart Foundation’s total income rose by £30m to a record high of more than £380m last year, new figures show.
The charity’s annual accounts, for the year to the end of March, show total income was up by 8 per cent year on year to £381.3m.
Trading income rose by £29m to £229.4m and the division made a £25.4m surplus, despite a surge in energy costs across the charity’s network of shops.
Retail costs were up 14 per cent to £200.7m due to inflation and energy costs which “more than doubled”, according to the accounts.
The charity’s total expenditure reached £370.1m, an increase of more than £70m on last year.
BHF increased its charitable expenditure by 34 per cent to £133.1m, which included £99.4m invested in research and £33.7m in healthcare innovation.
One notable result of this increase in investment is The Circuit initiative, which has placed defibrillators across all UK ambulance trusts.
The increase in overall expenditure reduced the BHF’s net income from £68.5m in 2021/22 to £7.9m last year.
The accounts show that £95m of its income came from legacies, which was down 7 per cent on a record-breaking year in 2021/22.
Charmaine Griffiths, chief executive of BHF, said: “In a year our work has never been more needed, the dedication of our colleagues, volunteers, supporters and customers has allowed us to fund some of the most ambitious research programmes in our history, giving hope of new treatments and cures to millions of families affected by heart and circulatory diseases.
“Our people are the beating heart of everything we do, and I want to thank every single person in our BHF family who has made this possible.”
BHF provides support to the 7.6 million people in the UK who are living with heart and circulatory diseases and Griffiths said the charity hopes “to fund more research than ever before in 2023/24” to provide for the nearly 397,000 people waiting for heart tests and treatments in England.
She said: “Millions of people with heart and circulatory diseases continue to need our research and support more than ever before.
“At a time when heart care is in crisis, we urgently need to accelerate progress in developing new treatments and cures, and ensure more families can access the information, support and care they desperately need.
“With the public’s continued and increased support, the BHF can continue to lead the way in ensuring these lifesaving ambitions become a reality.”