Registered number: 03179785 Charty number: 1054129 We Are Beams (A company limited by guarantee) Trustees. report and financial statoments For the year ended 31 March 2025
Wè Are Beams (A Company limited by guarantee) Contents Page Reference and admlnlstrative details of the Charfty, Its Trustees and advisers Trustses. report Ind•pendent audltor's report on the financial statements Consolidated statement of financial acllvlties 2-10 16 Consolidated balance shoet 17 Charity balance sheet Consolidated statement of cash flows 18 19 Notes to the financial statements 20-42
We Are Beams (A company limited by guarantee) Reference and administrative detai15 of the Charity. Its Trustses and advlsers For the year ended 31 March 2025 Trustees Mrs R Neale Mr A J Garrett, Treasurer Mr N H Johnston Mr J H Jarvis. Chair Mrs T Cox, Vice Chair Mrs J Challis (resigned 12 August 2025) Mrs S Crocker Mrs J Wells lappoinled 4 May 2024) Mr M Vvalker (appointed 20 June 2024) Mx M Clinch (appointed 29 August 2024) Company registered number 03179785 Charlty reglsterod number 1054129 Registered office Allsworth Court 40 St David's Road Hextable Kent BR8 7RJ Company secretsry Mrs K Adams Head of Charity Mrs K Adams Independent auditor Kreston Reeves Audit LLP Chartered Accountants Statutory Auditor Maritime Place Quayside Chatham Maritime Chatham Kent ME4 4QZ Page 1
We Are Beams {A company limlted by guarantee) Trustees. report For the year ended 31 March 2025 The Trustees present their annual report together with the audited financial statements of the company for the year ended 31 March 2025. The TNstees confirm Ihat the Annual Report and financial ststements of the company Comply with the current statutory requirements, the requirements of Ihe company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015). Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. Objectlves and actlvltles a. Policies and objectlves Our vision is that Beams will be a leader in transforming the lives of disabled children and young people and their families, enabling greater independence and control of their lives and futures. setting a path for others to follow. Values that underpin the work of Beams are: Service excellence Parent driven People focused Responsive to needs Promoting an indusive agenda Client involvement in the development of Services Regular and systematic monitoring and evaluation Increasing social awareness of disability Collaborative working Our Aims We aim to provide comprehensive support services and related projects that directly benefit and assist families dealing with the challenges of raising a disabled child. Beams supports families of chihJren with any form of physical, leaming or sensory impairment living primarily in the Dartford. Gravesham or Sevenoaks area. The charity did not make any changes to its mission or core aims during the year, and in reviewing its business objectives and activities was very mindful of the need to maintain as best as possible our current services and activities. The financial climate and uncertainty has given cause for alarm across all sectors and the Trustees recognised that caution will cJ)ntinue to offer a far more strategic approach in achieving the ongoing sustainability and vibrancy of the charity into the future. Page 2
We Are Boam$ (A company Ilmlted by guarantee Trustees, report (¢ontlnued) For the year ended 31 March 2025 Objectives and actlvltles (continued) b. Strategie8 for achieving objectives Strategic Objectives 1. To provide the whole family with a bespoke menu of advice, information, suppor( leisure and education seNices including: Family Advi Service Short Break Activity Service Dragons Retreat Short Break Unit Support services for Kent families in receipt of Direct Payments for disabled child and young people through Direct Payment Service. This service has been transferred as at 31 March 2025. Support Brokerage Service providing families and young people with additional opportunities to direct their lives and futures Payroll seiCe for families employing their own stsff To provide and develop in partnership with other organisations or statutory bodies a range of inclusive and specialist services that meet the needs of all disabled children & young people and their families 2. To ensure that marketing and fundraising activity effectively delivers income and raises our profile including.. A focus on donor acquisition and major donor income Building our profile Developing supporter relationships To promote, market, raise awareness and secure a range of funding streams in order to ensure the future of Beams 3. To review the structure of Beams in order to minimise risk and maximise opportunities. 4. To attain the Trusted Charity quality maTk and continue to maintain qualty assured servi$ in all areas of Beams. 5. To develop and secure opportunities to diversify and generate sustainable income sources using our existing services and products whilst maintaining our values. 8. To continue to invest in the professional development of als staff, with a continued focus on leadership and management skills. 7. To meet the ongoin9 and future needs of the charty to secure ownership of a propety that will meet the needs of Beams for the near future. In setting objectives and planning for activities the Trustees have given due consideration to guidance from the Charity Commission relating to public benefit. The charity substsntially relies on grants and contracts with local authorities and to a lesser extent fees and charges to cover its operating costs. In setting the level of fees, charges and concessions, the trustees consider the accessibility of its activities for those on low incomes. Page 3
We Arn Beams (A company limited by guarantee) Trustees. report (continued) For the year ended 31 March 2025 Objectives and actlvities (Continued) . Main activltles undertaken to further the charity's purposes for the public benefit and achleve objectives Family Advice Servi The Family Advice sep11 is the principal frontline setvice for our membership and others. The service continues to offer 5UPPOrt to families across a wide range of issues that affect a family with a disabled child. The effect of dealing with the wide range of issues and providing advice, guidance and support is what Ihe Family Advice Service is all about. The support provided is led by the needs of families who are dealing with despair, battles, depression and exhaustion. The Family Advice team has continued their work with all families that contact us. Fa to face, work has continued and a full range of opportunities are used to provide as much access to support as possible. Our weekly advice clinics have Continued in each area, alOngse support via telephone and the use of video conferencing. ensuring parents could access 1 to 1 attention. Support Group meetings and Cygnet Training courses have been running and for a second consecutive year in excess of 3000 contscts were reiVed by the seNi¢e. Key activities include: A telephone helpline and drop4n centre Educational advice Weekty advice clinics Monthly support groups in each area Delivering ADHD parent training Delivery of the Cygnet parenting programme Partnership workin9 including.. Earfy help Homestart Fathers club ADHD pathway Spa¢e2beme KENT pact Short Break Services Activities The short break setvices support disabled children. young people, and their families. The principle work of the seNice is to enable disabled children to have enjoyable experiences, which help them become more independent and fomi friendships outside the family. We also support families by providing respite seNices. offering events. and day trips that the family can attend together. Our nonnal programme of short breaks ran during the year. It was a great delight to see how happy the children were to be able to attend. Playschemes operated in all school holidays and a range of events. activities and outings were arranged. A number of famity events were offered during the year, giving families an opportunity to spend time together with support available if needed. Page 4
We Are Beams (A company limited by guarantee) Trustees. report (continued) For the year ended 31 March 2025 Objectives and actlvities {continued) Residential Dragons Retreat short break unit conts.nued to operate. During the year, we were able to increase occupancy. Young people attending enjoy planned activities and days out as well as working towards targets to increase their levels of independence. Parents benefit from much needed respite from their caring roles. We had a full Ofsted Inspection in February and we are very pleased that we Vre awarded an Outstanding grade. This is a great achievement for the team and recognises the high standards of care that are delivered for young people. Direct payment team The Direct Payment Team have now complèted the Year 6 of the original contract which VRS an agreed extension. Direct Payments offer a different way of arranging social care services for disabled children and young people and their families. Above all else, Direct payments offers families and the child.. More control over how, when and where support seNices are arranged and," Greater flexibility over how, when and where support seNices are arranged The Beams Direct Payment SeNice currently support parents of over 1220 young people across Kent so that Ihey can take control of their disabled child or young person has assessed Care and Support needs. The Beams Direct Payment Service helps parents to understand the responsibilities of receiving Direct Payment money, and how to use this correctly. Each family is allocated to a dedicated Beams Direct Payment Case Worker for continuity, and we know the parents trust us to work with them. The local authorty undertook a procurement for the next 3 year award of the contract during 2024. It was a great disappointment that following this the contract Vdas awarded to a national company. 10 of our staff team were transferred to the new provider on 31 st March 2025 under TUPE rules. Support Brokerage Service The ultimate aim of Support Brokers is to see people taking full control of their own lives. Support Brokers are independent and work alongside people, supporting them to plan how to live in the way they choose. a life that makes sense to them.The Support Broker will encourage people to think about what they really want and find ways to work towards their perfect life. They work directly for the person; supporting them to stay in control. to understand and explore a full range of opportunities and to become confident to take the action needed to achieve their desired outcomes. Currently our service focuses on 3 areas Person Centred Planning Brokerage Management Support services Fundraising & Marketing The Fundraising Team headed by Caroline Brinkman - has continued its outstanding work to highlight how We Are Beams is perceived in the local community and with local businesses. The team have held a number of events and challenges during the year highlighting the work of Beams and the impact it has on families. They have also been successful with a range of grants. Income generated by the fundraising team was over £789,000. Page S
We Are Beams (A company limited by guarantee) Trustees. report (continued) For the year ended 31 March 2025 Objectives and activitios (continued) Volunleer5 We ar8 Beams. main activities are assisted by a small number of volunteers working within the different departments. They help wrth the support groups, assist in the main office, supporting the Admin teams including managing the library. Their role also extends to helping with social events, activity groups and fundraising events. They are supported and supervised by the respective department heads and receive training where appropriate. Their contribution to the We are Beams is vital to the charity's continued success at all levels. Achievements and perfornianc• a. Key financial perforniance indicators The Charitable sector continues to experience uncertainty regarding funding. The Trustees together with the Management team have continued to be proactive in their planning and service delivery alongside a robust approach to fundraising and procurement. In this reporting year the charity had a nel accounting surplus of £162,169 (2024: deficit of £67.285) which was n line with expected perfonnance. Totsl Income for the year £2,480,058 (2024: £2,125,086). Expendilure for the year was £2,307,135 (2024.. £2,169,459). Page 6
We Are Beams {A company limited by guarantee) Trustees. report (continued) Forthe year ended 31 March 2025 Achievements and performance (contlnued) b. Investment policy and perfomian¢e The Charty Reserves policy states: 'The charity has a commttment to transform the lives of disabled children and young people and their familie5. To ensure that this commitment to families continues to be met, it is the trustees, policy that the balance of general funds should be maintained at six months, unrestricted expenditure. This poli is based on past exp8rienGe and is reviewed annually by the trustees. Steps needed to establish or maintain reserves at the agreed level.. the Finance Manager and CEOIHead of Charity will together plan a reserve budget amount the reserves budget amount will then be discussed at the full board meeting when annual budgets for the whole organisation are discussed in March of each year. Budgets to be agreed and then sent to the full Board Meeting for final approval. The arrangements for monitoring and reviewing the policy.. the policy will be reviewed every year. Cash reserves at the end of the year, after removing client funds, total £608,240. The charity aims to hold sufficient funds to continue operating for a short period with no income from major funding sources. The unrestricted balance represents 3 months operating costs (without commissioned ServiS). The Charity operates a range of setvices that ensure that there is a 3 months. noti for Ihe cessation.of contracted or commissioned work. The Trustees have with the senior management team agreed that this 3- month period will be used to wind up the service to finish work on these at the end of the notice period. In looking at the resetves level, the Trustees base the required levels on the potential winding up of the Charity after setvitss have ased. This figure is therefore considerably lower than 6 months full operating expenditure. As in previous years, the charity continues to hold a proportion of funds in the Charities Deposit Fund (COIF), an account whose pooled assets are deposited in rigorously selected financial institutions approved by the COIF trustees. For each counterpaty, there are agreed individual deposit limits, thus ensuring a wide spread across a range of institutions, the credit stalus of each being monitored on a daily basis. Currently the COIF Fund's own creditworthiness status is A4A, thus reflecting its high credit quality and low risk. This is in line with the Trustee's policy of safeguarding funds from fi'nancial risk. Page 7
We Are Beams (A company limited by guarantee) Trustees. report (continued) For the year ended 31 March 2025 Flnancial revièw . Going concern After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operats'onal existence for the near future. For Ihis reason, they continue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the accounting policies. b. Principal funding Commissioned work for Kent County Council and other local authorities provides a significant level of income to the charity, however we continue to analyse the tenders for seNices and will only bid for those that ensure adequate funding for the level of service the children and families deserve to have provided for them. The charity continues to seek income from other sources. The charity has 3 other main income generating seNices with Dragons Retreat. Beams Payroll Service and the Brokerage support service. Structure. govemance and management a. Constitutlon The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 22 March 1996. The company is constituted under a Memorandum of Association dated 22 March 1996 and is a registered charity number 1054129. The principal object of the Company is to provide comprehensive support services and related projects that directly benefit and assist families dealing with the challenges of raising a disabled child. Beams supports families of children with any form of physical, leaming or sensory impairment living primarily in the Dartford, Gravesham or Sevenoaks area. b. Methods of appointment or electlon of Trustees The management of the Group and the Charity is the responsibility of the Trustees who are elected and co- opted under the terms of the Memorandum of Association. c. Policies adopted for the induction and training of Trustee6 The majority of Trustees, being parents of disabled children and users of our ServiS. already have a good understsnding of the charity's work and the needs of our members and their children. An introduction and welcome pack has been developed which includes Charity Commission pamphlets and guidance, and all new Trustees receive copies of the 'Good Trustees Guide,. New Trustees have the benefit of 'support through mentoring programme, from one of the existing trustees A skills audit questionnaire is in pla to determine the training and development needs of all new Trustees. Additionally, board members can avail themselves of exiemal training course relevant to their roles as required and agreed. Trustees hold an Annual review se5sn to look at their work against the Code of Governance and generate an action plan for improvement and implementation. Page 8
We Are Beams (A company Ilmlted by guarantee) Trustees. report (Contlnued) For the year ended 31 March 2025 Structure, govemance and management (contlnued) d. Pay policy for senior staff The Trustees are mindful of the guidance of the NCVO and the Charity Commission in setting Pay grades for all staff. The Charity currentjy has a Pay structure and grading system based on an evaluation of each job description. There is a Pay Policy in place. e. Organisational structure and decision-making The Council of Management is responsible to members and other interested parties for the overall Governance of the charity. As the charity is both a company limited by guarantee and a registered charity, members of the Council of Management are both Directors and Charity Trustees. They seek to ensure that the charity operates to fulfil the objectives set out in the Memorandum and in the Articles of Association and that due attention is paid to charty law and other relevant legislation. The role of th@ Council of Management is to establish the strategic direction of the charity, to provide leadership, and to ensure that charitsble funds are properly utilised and safeguarded. The day-ttrday operational management of the charity is delegated to the Head of Charity and through her to the staff team. The Council of Management however, retains fomial responsibility for all policies, decisions and actions of the charty. The Council of Management now meets 8 times per year with additional sub groups operating as required. In addition, the Council of Management held 2 Strategy meetings and a Governance Code Review day. f. Risk management The Trustees have assessed the major risks to which the company is exposed, in particular. those related to the operations and finances of the company, and are satisfied that systems and prOdureS are in place to mitigate our exposure to the major risks. Plans for future periods Future developments The Head of Charity has continued to look at opportunities to develop the Short Breaks Service to offer Respite Setvices specifically for 18-25 year olds. An evidence of need study has been completed. Premises in a suitable location are being researched in discussion with KCC and propety development companies.ln addition there is a potential to link with another Charity to offer both ovemight respite and a day care service for this age group which is being developed. A loan was taken out in May 2020 tr) support the Charty during COVID 19. The Charity ha5 now recovered to its pre-COVID levels and better. The loan will be fully repaid by November 2025. Infomiation on fundralslng practices Fundraising undertaken by the Charity is under the management of the Income Generation and Development Lead who is a member of the management team. Fundraising activities are monitored by the Head of Charity alongside scrutiny from the Council of Management. No complaints about fundraising activities have been received. Page 9
We Are Beams (A company limited by guarantee) Trustees. report (continued) Forthe year ended 31 March 2025 Statement of Trustees. responsibilities The Trustees (who are also the directors of the Chanty for the purposes of company law) are responsible for preparing the Truslees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards {United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of reSoUrs, including their income and expenditure. for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then appty them consistently" obseDie the methods and principles of the Charities SORP (FRS 102)", make judgements and accounting estimates that are reasonable and prudent; prepare the financial statements on the going conrn basis unless it is inappropriate to presume that th8 charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Dlsclosure of inforniation to audltor Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audit infomiation of which the charitable group's auditor is unaware. and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any rèlevant audit infomiation and to estsblish that the charitable group's auditor is aware of that information. Auditor The auditor, Kreston Reeves Audit LLP, has indicated his willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees. The audit registration of Kreston Reeves LLP was transferred to Kreston Reeves Audit LLP on 6 October 2025. Kreston Reeves Audit LLP were formally appointed as auditor to the company on 6 October 2025. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mr Jason H Jarvls Chair of Trustees Date.. Page 10
We Are Beams (A company limited by guarantee) Independent auditor's report to the Members of We Are Beams Opinion We have audrted the financial statements of We Are Beams (the 'parent charitable company,) and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated statement of financial activities. the Consolidated balan sheet. the Charity balan sheet, the Consolidated statement of cash flows and the related notes, induding a summary of significant accounts.ng policies. The financial reporling framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2025 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi., and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. Basls for opinion We conducted our audit in accordance wilh International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical resFJonsibilities in accordance with these requirements. We believe that the audit evidence we have oblained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concorn In auditing the financial statements. we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the worf( we have performed, we have not identified any material uncertainties relating to events or condrtions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable Company's ability to continue as a going concern for a period of at least e1ve months from when the financial ststements are authorised for issue. Our responsibilities and the responsibilities of the Trustees wilh respect to going concern are described in the relevant sections of this report. Page11
We Are Beams {A company limlted by guarantse) Independent audltorfs report to the Members of We Are Beams (continued) Other infomiatlon The other information comprises the information induded in the Annual report other than the financial statements and our Auditorfs report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other infonnation and. except to the extent otherwise explicitly stated in our report, we do not express any form of assuran conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otheNiise appears to be materially misstated. If V identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial ststemenls themselves. If, based on the work have performed, we Conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies A 2006 In our opinion, based on the work undertaken in the Course of the audit: the information given in the Trustees. report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are requlred to r•port by exception In the light of our knowledge and understsnding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion.. the parent charitable company has not kept adequate and sufficient accounting records, or retums adequate for our audit have not been reiVed from branches not visited by us. or the parent charitsble company financial statements are not in agreement with the accounting records and returns,. or certain disclosures of Trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit., or the Trustees were not entided to prepare the financial statements in accordance with the small companies regime and take advantage of the small Companies. exemptions in preparing the Trustees, report and from the requirement to prepare a Strategic report. Responsibilities of trustees As explained more fully in the Trustees. responsibilities statement. the Trustees (who are also the directors of the charitable company for the puOSe$ of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a twe and fair view, and for such intemal control as the Trustees detennine is necessary to enable the preparation of financial slatements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to Cease operations, or have no realistic alternative but to do so. Page 12
Wè Are Beams (A Company Ilmlted by guarantee) Independent audltorfs report to the Members of We Are Beams (continued) Auditor's responslbllities for th• audlt of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordan with ISAS (UK) will always delect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud. are InStanS of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in resped of irregularities. induding fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Capability of the audit in detecting irregulan"ties, induding fraud Based on our understanding of the Charity and the sector as a whole, and through discussion with the Trustees and other management (as required by auditing stsndards). Y identified that the principal risks of non- compliance with laws and regulations related to Ofsted compliance, and Safeguarding. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities SORP, {FRS 102) Second Edition (released October 2019), the Companies Act 2006 and other relevant charity legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated Twstees, and management's incentives and opportunities for fraudulent manipulation of the financial 'statements (including the risk of override of controls) and detennined that the principal risks related to posting inappropriate joumal entries to increase revenue or reduce expenditure. Audit procedures performed by the engagement team included: Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety) and fraud., and Assessment of identified fraud risk factors; and Challenging assumptions and judgements made by management in its significant accounting estimates., and Performing analytical procedures to identify any unusual or unexpected relationships. including related party transactions, that may indicate risks of material misstatement due to fraud,. and Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related patties outside the normal course of business. and Reading minutes of meetings of those charged with governance; and Review of significant and unusual transactions: and Identifying and testing journal entries. in particular any manual entries made at the year end for financial statement preparation. Page 13
We Are Beams (A company limited by guarantee) Independent auditorfs report to the Members of We Are Beams (continued) As part of an audit in accordance wrth ISAS (UK). we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error. as fraud may involve Collusion, forgery. intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charilable company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees. Conclude on the appropriateness of the Twstees, use of the going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast signfficant doubt on the charitable company's ability to continue as a going Concern. If we conclude that a material UnrtaInty exists, we are required to draw attention in my Auditors report to the related disclosures in the financial statements or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of my Auditor's reFXIrt. H(wever, future events or conditions may cause the charitable company to aSe to continue as a going concem. Evaluate the overall presentation. structure and content of the f5nancial ststements, including the disclosures, and whethei the financial statements represent the underfying transactions and events in a manner that achieves fair presentation. Obtsin sufficient appropriate audit evidence regarding the financial infomiation of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction. supervision and performance of the Group audiL We remain solely responsible for our audit opinion. We communicate with those charged with gov8rnance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in intemal control that we identify during our audit. Page 14
We Are Beams (A company limfted by guarantee Independent audltorfs report to the Members of We Are Beams (continued) Use of our report This report is made solely to the charitable compantys mefflbers, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. and to the charitable company's trustees, as a body. Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that VR might state to the charitable company's members those matters we are required to state to them in an Auditorfs report and for no other purpose. To the fullest extent permitted by law, do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work. for this report or for the opinions we have formed. Samantha Rouse FCCA DChA (Senlor statutory auditor for and on behalf of Kreston Reeves Audit LLP Chartered Accountsnts Statutory Auditor Chatham Maritime Date: Page 15
We Are Beams (A company limited by guarantee> Consolidated Statement of financial actlvities (incorporating income and expendlturo account> For the year ended 31 March 2025 Unrestrlctsd funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Charitable activities Other trading activities Investments 264,322 1.012,410 209,484 32,874 10,603 950,365 274.925 1,962.775 209,484 32,874 239,202 1,695,465 186,473 3,926 Total income 1,519,090 960,968 2,480,058 2,125,066 Expènditure on: Raising funds Charitable activities 88,325 1,399,303 88,325 2,218,811 22,318 2,147,141 819,508 Total expendlture 1,487,628 819.508 2,307,136 2,169,459 Net incomel(expendlturo> before taxation Taxation 31,462 (10,754) 141.460 172,922 (10,754) (44,393) (22,892) 12 Net Incomel(expfrnditure) after taxatlon Transfers beeen funds 20,708 1143,847) 141,460 143.847 162.168 (67,285) 18 Net movement in funds (123,139) 285.307 162,168 (67,285) Reconciliation of funds: Total funds brought forward Net movement in funds 330,116 {123,139) 240,255 285,307 570,371 162,168 637,656 {67,285) Total funds carried forward 206.977 625,562 732,539 570,371 Page 16
W• Are Beams (A company limited by guarantee) Registered number: 03179785 Consolidated balance sheet As at 31 March 2025 2025 2024 Note Fixed assets Tangible assets 13 103.353 86,377 103.353 86,377 Current assets Debtors Cash at bank and in hand 15 159,115 3,442,679 142,901 2.530,919 3.601,794 2,673,820 Current liabilities Creditors: amounts falling due within one year 16 (2.972.608) (2,180,843) Net current assets 629,186 492,977 Total assets less current liabilities 732,539 579,354 Creditors: amounts falling due after more than one year 17 (8,983) Total net a56ets 732.539 570,371 Charfty funds Restricted funds Unrestricted funds 18 18 525,562 206,977 240,255 330,116 Total funds 732,539 570,371 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities Subject to the small companies regime. The financial ststements were approved and authorised for issue by the Trustees and signed on their behalf by: Jarvls (Chair of Trustees) Date.. The notes on pages 20 to 42 form part of these financial statements. Page 17
We Are Beams {A company limited by guarantee) Registered number: 03179785 Charity balance sheet As at 31 March 2025 2025 2024 Note Flxed assets Tangible assets Investments 13 14 103,353 100 88,377 100 103.453 86,477 Current assets Debtors Cash at bank and in hand 15 137,539 3.029,660 155,478 2.181,216 3.167,199 2,336,694 Current liabilities Creditors.. amounts falling due within one year 16 (2.970.053> (2.163.462) Net curr•nt assets 197,146 173,232 Totsl assets less current Ilabilities 300.599 259,709 Creditors: amounts falling due after more than one year 17 (8,983) Total not assets 300,599 250,726 Charity funds Restricted funds Unrestricted funds 18 18 240,265 fAI.344 240,255 10,471 Total funds 300,599 250.726 The Charty's net movement in funds for the year was £49.873 (2024 - £(386.930)). The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial ststements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Chair of Trustees Date.. The notes on pages 20 to 42 form part of these financial statements. Page 18
We Are Beams (A company limited by guaranlee) Consolidated statement of cash flows For the year ended 31 March 2025 2025 2024 Cash flows from operating aetlvltles Net cash used in operating activities 953,076 242,173 Cash flows from investing activities Dividends. interests and rents from investments Purchase of tangible fixed assets 32,874 {58,7901 3,926 (42,054) Net cash used In investing activities {25,9161 (38.128) Cash flows from financing a¢tivities Repayments of borrowing (15,400) {15,400) Net cash used in financlng actlvities (15,400) <15,400) Change in cash and cash equlvalents in the year Cash and cash equivalenls at the beginning of the year 911,760 188,645 2,530,919 2,342,274 Cash and cash equlvalents at the end of the year 3,442,679 2,530,919 The notes on pages 20 to 42 form part of these financial stalernents Page 19
We Are Beams (A company limited by guarantee) Notos to the financial statements For the yoar ended 31 March 2025 General inforniation We Are Beams is a charity and company limited by guarantee incorporated in England. The company's registered office is Allsworth Court. 40 St David's Road. Hextable, Kent, BR8 7RJ. The principal activity the company is to provide comprehensive support services and projects that will directly benefit and assist families raising a disabled child. Arxounting pollcles 2.1 Basls of pr•paration of Ilnancial statements The financial statements have been prepared in accord8nts with the Charities SORP (FRS 102) - Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective 1 January 2019). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. We Are Beams rnts the definition of a publi¢ benefit entty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Consolidated ststement of financial aclivities {SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements. Page 20
We Are Beams (A company limited by guarantee) Notes to the financial statements For the year ended 31 March 2025 Accounting policie5 (continued) 2.2 Income All income is reGognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with suffi'cient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charty has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor} and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured. Grants are included in the Consolidated statement of financial activities on a r1Vable basis. The balan of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is reiVed in advance of entitlement of receipt. its recognition is deferred and included in creditors as deferred income. Where entitleTnent occurs before income is received. the income is accrued. Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies. Page 21
We Are Beams (A company limlted by guarantse) Notes to the financlal slatements For the year ended 31 March 2025 Accountlng pollcles (continued) 2.2 Income (continued) On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent e¢onomi¢ benefit on the open market; a corresponding amount is then recognised in expenditure in the period of reipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of Covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in whtch tt is receivable and to the extent the goods have been provided or on completion of the service. 2.3 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support Costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of reSoUrs. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.4 Interest receivable Interest on funds held on deposit is included when receivable and the amunt can be measured reliably by the Company- this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Taxation The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the defin¢tion of a charitsble company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from tsxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Page 22
We Are Beams {A company limited by guarantee) Notes to the financial statements For the year ended 31 March 2025 Accounting policies {contlnued) 2.6 Tangible fixed assets and depreciatlon Tangible fixed assets costing £1.000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can tE measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairmenl losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. At each reporting date the Charity assesses whether there is any indication of impaim)ent. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases: Short-temi leasehold property Motor vehicles Fixtures and fittings Equipment Computer equipment 250/0 per annum 25 /0 per annum 33°/0 per annum 50/0 per annum Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated statement of financial activities. 2.7 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised. are combined and presented as 'Gainsl(Losses) on investments, in the Consolidated statement of financial activities. Investments in subsidiaries are valued at cost less provision for impairment. 2.8 Debtors Trade and other debtors are recognised at the settlement amount after any trad8 discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 23
We Are Beams (A company Ilmlted by guarantse Notes to the flnanclal statements For the year ended 31 March 2025 Accountlng pollcles (contlnued) 2.10 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability- The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost. 2.11 Flnanclal Instruments The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.12 Opèrating leases Rentals paid under operating leases are charged to the Consolidated ststement of financial activities on a straight-line basis over the lease term. 2.13 Penslons The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year. 2.14 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specrfic restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 24
We Are Beams (A company limited by guarant88) Notes to the financial statements For the year ended 31 March 2025 Critical accountlng estimates and areas of judgement Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Charity does not currently have any significant accounting estimates or areas of judgement. Critical accounting estimates and assumptions: The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will. by definits"on, seldom equal the related actual results. The estimates and assumptions that have 8 signrficant risk of causing a material adjustrnent to the carrying amounts of assets and liabilities within the next financial year are discussed below. Page 25
W• Are Beams (A company limited by guarantee) Notes to the financlal ststements For the year ended 31 March 2025 Income from donations and legacies Unrestrfcted Restricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Donations Gift Aid Legacies 232,082 32,240 10,435 168 242.517 32.408 213,631 24,571 1,000 264,322 10,603 274,925 239,202 Total 2024 212,039 27,163 239,202 Income from charitable activities Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Support, advice and respite services - Children Trading activities 991,023 21,387 950,365 1,941,388 21,387 1,875,711 19.754 1,012,410 950,365 1,962,775 1,695,465 Total 2024 823,103 872,362 1,695.465 Page 26
W• Are Beams (A company limlted by guarante0} Notes to the financial statements For the year ended 31 March 202S Income from other trading activities Income from non Charltable trading aetfvitles Unrestrlcted funds 2025 Total fund8 2025 Total funds 2024 Managed payroll services Other income Beams Payroll Services Limited 147,950 7,341 31,182 209,484 209,484 209,484 209,484 186,473 Total 2024 186,473 186,473 Investment income Unrestricted funds 2025 Total funds 2025 Totsl funds 2024 Bank interest 32,874 32,874 3,926 Total 2024 3,926 3,926 Page 27
We Are Beams (A company limited by guarantee) Notes to the financlal statements For the year ended 31 March 2025 Analysis of expenditure by activities Activities undertaken directly 2025 Support costs 2025 Total funds 2025 Total funds 2024 Support, advice and respite services- Children Trading activities 1,810,545 82,521 296.000 29,745 2,106,545 112,266 2.089,079 58,062 Total 2025 1,893,066 325,745 2,218,811 2.147,141 Analysls of direct costs Total funds 2026 Total funds 2024 Staff costs Activity and project costs Training costs Motor and travel costs 1,760,997 100,421 17,461 14,187 1,698,706 89,158 9,491 20,608 Total 2025 1.893,066 1,817,963 Page 28
We Are Beams {A company limited by guarantoe) Not•s to the flnancial statements For the year ended 31 March 2025 Analysis of expenditure by activities {continued) Analysls of support costs Total funds 2025 Total funds 2024 Depreciation Loan interest costs Computer costs Rent & rates Insurance costs Light & heat costs Telephone costs Printing, postage & stationery costs Sundry costs Health & safety Costs Subscription costs Minibus Costs DBS checks Advertising costs Repairs & renewals costs Equipment hire Professional fe8S Charity Functions Governance costs 41,814 3,850 45,101 46,637 10,161 22,136 26,301 9,468 30 216 1,347 11.926 21,514 16,148 9,641 3,149 30.280 660 25,366 28,094 3,850 45,327 49,014 8,991 32,414 25,547 11,403 828 1,900 1,345 10,419 15,779 20,848 18,522 4,195 26,841 580 23,281 Total 2025 325.745 329,178 Auditorfs remuneration 2025 2024 Fees payable to the Charty's auditor for the audit of the Charty's annual accounts 8,925 8,500 Page 29
We Are Beams {A company limited by guarantee) Notes to the flnancial statements Forthe year endèd 31 March 2025 10. Staff costs Group 2025 Group 2024 Charity 2026 Charity 2024 Wages and salaries Social securty costs Contribution to defined contribution pension schemes 1,676.034 127,391 1,554,121 121,882 1,600,224 122,264 1,537,645 120,850 40,093 40.518 38,509 40,211 1,843,S18 1,716,521 1,760,997 1,698,706 The average number of persons employed by the Charity during the year was as follow3.. Group 2025 No. Group 2024 Employees 106 107 The average headcount expressed as full-time equivalents was.. Group 2025 No. Group 2024 No. Charity 2025 No. Charity 2024 No. 50 39 39 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: Group 2025 Group 2024 No. In the band £70,001- £80,000 The total amount of employee benefits (including employefs national insurance contributions and employerfs pension contributions) received by the key management personnel for their services to the charity was £510,231 {2024: £489,160). 11. Trustges. remuneratlon and expenses During the year, no Trustees received any remuneration or other benefrts (2024 - £NIL). During the year ended 31 March 2025, expenses totalling £729 were reimbursed or paid directty to 10 Trustee (2024 - £456 to 8 Trustees). The balance outstanding at the year end totals £nil (2024.. £456). Page 30
We Are Beams (A company limited by guarantee) Notes to the financial statements For the year ended 31 March 2025 12. Taxation 2025 2024 Corporation tax Current tax on net incomel(expenditure) for the year Adjustments in respect of previous periods 15,551 7,341 10,754 Taxation on net incomel(expenditure) 10,754 22,892 During the year the charity reported trading profits of £209,484 {2024: £65,551) which are chargeable to corporation tax, as shown in the note above. The charty's trading subsidiary, Beams Payroll SeNices Limited was incorporated on 20 December 2023 and from this date distributes, under Gift Aid, the available profits to the parent charity. There are no factors considered likely to affect future tax charges. 13. Tangible fixed assets Group Short-term leasehold property Equipment and computers Motor vehicles Equipment Total Cost or valuation At 1 April 2024 Additions 6.250 106,423 58,790 26,322 216,452 355,447 58,790 At 31 March 2025 6,250 165.213 26,322 216,452 414,237 Depreciation At 1 April 2024 Charge for the year 6.250 98N50 16.547 25.832 138,538 24,778 269,070 41,814 At 31 March 2025 6,250 114.997 26,321 163,316 310,884 Net book value At 31 March 2025 50,216 53.136 103,353 At 31 March 2024 7.973 490 77,914 86,377 Page 31
We Are Beams {A company limited by guarantee) Notes to the flnancial statements For the year endèd 31 March 2025 13. Tangible fixed assets (continued) Charity Short-tenn leasehold property Motor Fixtures and vehlcles fittings Computer equipment Total Cost or valuation At 1 April 2024 Additions 6.250 106A23 58.790 26.322 216,452 355,447 58,790 At 31 March 2025 6,250 165.213 26,322 216,452 414,237 Depreciation At 1 April 2024 Charge for the year 6.250 98.450 16.547 25,832 489 138,538 24,778 269.070 41.814 At 31 March 2025 6,250 114,997 26,321 163,316 310,884 N•t book value At 31 March 2025 50.216 S3,136 103,353 At 31 March 2024 7.973 490 77,914 86,377 14. Fixed asset investments Investments In subsidlary companies Charity Cost or valuatlon At 1 April 2024 100 At 31 March 2025 100 Net book value At 31 March 2025 100 At 31 March 2024 100 Page 32
We Are Beams (A company limited by guarantee) Notes to the financial statements Forthe year ended 31 March 2025 Prlnclpal subsidiarios The following was a subsidiary undertaking of the Charity: Name Company number Roglstered office or princlpal Prfnclpal activty place of buslness Beams Payroll SeNices Ltd 15363977 Allsworth Court, 3840 St David's Managed payroll Road, Hextable, Swanley, Kent serVIS BR8 7RJ Class of Holding shares Included In con801idatlon Ordinary 1001 Yes The financial results of the subsidiary for the year were.. Name Income Expendlture Profitl(Loss
1 Surplusl (Deficit) for the year Net assets Beams Payroll Services Ltd 209.484 {88.325) 121,159 432,040 15. Debtors Group 202S Group 2024 Charity 2025 Charity 2024 Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 131,359 105,360 110,008 85.510 39,985 11.846 18,137 11,148 16,608 19,240 18,301 11,096 16,436 169,115 142,901 137,539 155,478 16. Creditors: Amounts falling due within on• yoar Group 2025 Group 2024 Charity 2025 Charity 2024 Other loans Trade creditors Amounts owed to group undertakings 8,983 34,101 15,400 12,432 8.983 24,899 17,554 15,400 12,078 Page 33
We Are Beams (A company limited by guarantse Notes to the tinanclal statements For the year ended 31 March 2025 16. Credttors: Amounts falling due within one year (contlnued) Group 2025 Group 2024 Charity 2025 Charity 2024 Corporation tax Other taxation and social security Other creditors Accruals and deferred income 15,551 33,673 2.049,208 54,579 15,551 27,575 2,049,208 43,650 39.669 2,834.839 55.016 31,542 2,834.839 62,236 2,972,608 2,180,843 2,970,053 2,163,462 Within other creditors the company held £2,834,439 {2024 - £2,043,414} on behalf of their clients as part of the managed payroll 5ervio. 17. Creditord: Amounts falling due after more than one y•ar Group 2025 Group 2024 Charity 2025 Charity 2024 Other loans 8,983 8,983 The above relates to a £77,000 loan from Kent Community Foundation drawn down in November 2020 and repayable over a 5 year term, with an interest rate of 5¥0 charged at the time of drawing down the loan. Page 34
We Are Beams {A company limited by guaranta8) Notes to the financial statements For the year ended 31 March 2025 18. Statement of funds Statement of funds - current year Balance at 31 March 2025 Balance at 1 Aprll 2024 Transfers inlout Income Expendlturo Unrestrlcted funds Designated funds Beams family support Contingency 750 124.207 (3.620) 3.620 750 124,207 124,957 (3.620) 3.620 124,957 General funds General Funds Legacy income Beams Payroll Services 181,877 14,418 8,864 1.519,090 11,494,762) (124,185) {14,418) (8,864) 82.020 205.159 1.519,090 (1N94,762) {147,467) 82,020 Total Unre8trlcted funds 330.116 1,519,090 (1,498,382> {143,847) 206,977 Restricted funds DP Main contract Beamers Restricted Fixed asset fund Family advice Individual child grants Fundraising special projects Little buddies Garden Project Kidscamp Family Events Buzz Club Grants restricted Fundraising restricted grants Fundraising restricted Big Lottery fund 40.000 530,746 1477,301) (16.047) {26.999) (207,429) (350) (91,445> 16,047 58,790 206.488 3SO 2,000 56,966 88.757 941 80,562 8,969 28.758 25,000 80,562 8.204 (10,370) 9,605 {28,758) 170,032) <7,109) {3,871) {45,032 7,109 3,871 (38,210) 264,794 75.660 9,775 79.052 226,584 75,660 9,775 79,052 240,255 960,968 (819,508> 143.847 525,562 Page 35
We Are Beams IA company limlted by guarantee) Notes to the flnanclal statements For the year ended 31 March 2025 18. Statem•nt of funds {contlnued) Total of funds 570,371 2.480.058 (2,317,890) 732.539 DP main contract is funding received from the Direct Payments contract with Kent County Council. Beamers funding relates to Beamers school holidays club for activity days. Family advice is income that has been received to run the family advice service. Fundraising special projects relates to large projects being undertaken where fundraising campaigns have been run. Little buddies is funding received for the Little Buddies support group. Garden project relates to the Plant a Smile campaign, the balance of which was spent during the year on maintenance costs. Kidscamp is funding received relating to the Kidscamp holiday specialist playscheme. Family events is funding received to run various family events throughout the year. Buzz club is funding received for the holiday club run for 18-25 year olds. Beams Family Support is funds to provide crisis support to a family in need. Contingency is for in year unforeseen expenditure or to support cash flow, that is not part of the formal charity reserves. Restricted Grants are grants for specific projects or services only . This funding must be held over for the following financial year depending on when the funding is reived. Page 36
We Are Beams (A company Ilmlted by guarantee) Notes to the flnanclal statements For the year ended 31 March 2025 18. Statement of funds (Continued) statement of funds- prior year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure Unrestricted funds Beams family support Contingency Kids¢amp 750 124,207 750 124,207 34.709 39 (34,709) 37 {76} 124,957 34,748 {76) {34,672) 124,957 General funds General Funds Legacy income Beams Payroll Services 242.300 14,418 1,158,611 (1,273,311) 1,000 31,182 54,277 (1.000) 181.877 14,418 8,864 <22,318) 256.718 1,190,793 (1,295,629) 53,277 205,159 Totsl Unrestrictod funds 381,675 1,225,541 (1,295,705) 18,605 330,116 Restricted funds DP Main contract Beamers Restricted Fixed asset fund Family advice Individual child grants Fundraising special projects Little buddies Support brokerage service Garden Project After School Clubs Kidscamp Dragon's Projects Family Events Buzz Club 36,035 551,041 (527,353) (36,326) (19,723) 36,326 40,000 56,966 56,966 200 1,099 347,185 <227,434) (3,410) 227,234 2,311 (345,955) 79,332 9.890 45,000 28,758 80,562 8,969 (9211 {45,000} 28,758 (3,138> (61,311> (73) {18,877) (17,803) 3,138 88,311 73 18,877 17,803 25,000 255,981 899,525 {896,646) (18,605) 240,255 Page 37
We Ar• Beams (A company limited by guarantee) Notes to the financial statements For the year ended 31 March 2025 18. Statement of funds (contlnued) Total of funds 637,656 2,125,066 (2,192,351) 570,371 Page 38
We Are Beams (A company limited by guarantee) Notes to the financial statements For the year ended 31 March 2025 19. Summary of funds Summary of funds- current year Balance at 31 March 2025 Balance at I April 2024 Transfe inlout Income Expenditure Designated funds General funds Restricted funds 124,957 205,159 240,255 13,620) 3,620 1,519,090 (1A94,762) (147,467) 960.968 (819,508) 143,847 124,957 82,020 525,562 570,371 2,480,058 (2.317,8901 732,539 Summary of funds - prior year Balance at 31 March 2024 Balan at 1 April 2023 Transfers inlout Income Expenditure Designated funds General funds Restricted funds 124,957 256.718 255,981 34,748 {761 1,190,793 (1,295,629) 899.525 {896,6461 (34,672) 53,277 (18,605) 124,957 205,159 240,255 637,656 2.125,066 (2.192,351} 570,371 20. Analysis of net assets between funds Analysis of net assets between funds - current year Unre8trlcted Restricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Currenl assets Creditors due within one year 103,353 3,076,232 (2,972,608) 103,353 3,601,794 (2.972,608) 525,562 Total 206,977 525,562 732.539 Page 39
We Are Beams {A company limited by guarantea) Notes to the financial statements Forthe year ended 31 March 2025 20. Analysis of net assets between funds (continued> Analysis of net assets between funds - prior year Unrestricted fund5 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 86,377 86,377 476,528 2,197,292 2,673,820 (137,429) (2,043,414) (2,180.843) (8,983) (8,983) Total 330,116 240,255 570,371 21. Reconciliation of net movement in funds to net cash flow from operating activities Group 202S Group 2024 Net incomelexpenditure for the year (as per Statement of Financial Activities) 162,168 (67,285) Adjustments for: Depreciation charges Dividends, interests and rents from investments Corporation tax charge Increase in debtors Increase in creditors Corporation tax repaid 41,814 {32.874) 28,094 {3,926) 15,551 (40,055} 309,794 {16.214) 813.733 {15,551) Net cash provided by operating activities 953,076 242,173 22. Analy818 of cash and cash equivalents Group 2025 Group 2024 Cash in hand 3,442,679 2.530,919 Total cash and cash equivalents 3,442,679 2,530,919 Page 40
W• Are Beams (A company limited by guarantee) Notes to the financial statements Forthe year ended 31 March 2025 23. Analysls of changes in net debt At 1 Aprll 2024 Cash flows At 31 March 2025 Cash at bank and in hand Debt due within 1 year Debt due after 1 year 2.530.919 (15,400) 18,983) 911.760 6.417 8.983 3.442,679 {8.983) 2.506.$36 927,160 3.433,696 Pen8lon commitments The Charity operates a defined contribution pension scheme for its employees. The amount recognised as an expense in the year was £40,093 (2024 £41,342). There were no outstanding pension contributions at the balance sheet date {2024- £Nil). This is recognised within unrestricted funds. 25. Operating lease commltments At 31 March 2025 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows.. Group 2025 Group 2024 Charity 2025 Charity 2024 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 44.971 180,854 179,046 41.976 180,854 268.568 44,971 179,046 179,046 41,976 180,854 268.568 404,871 491,398 403,063 491,398 Page 41
Wè Are Beams (A company limlted by guarantee) Notes to the flnanclal statements For the year ended 31 March 2025 26. Rolated party transactions During the year Mr R Adams, Mr D Adams, Mrs J Adams and Mr J Adams, family members of Mrs K Adams, Head of Charity of We Are Beams, were employed by the Charity. During the year P Hatcher, the sister of T Woods, a member of key management personnel of the charity, was employed by the Charity. During the year A Brinkman, the daughter of C Brinkman, a member of key management personnel of the charity, was employed by the Charty. All of these people were employed in roles to further the Charity's objectives and have line managers separate from their family member. Pay reviews for these individuals are conducted separately from those that involve Mrs K Adams, ensuring that these are independent and free from bias. During the year the charity entered into a transaction with Dartford Healthy Living Centre. an organisation in which one of the charity's trustees is also a director. The transaction was conducted on nomial commercial terms and at arm's length. The trustee did not participate in any decision-making process relating to this transadion. Post balance Sheet events From 1 April 2025, We Are Beams no longer hold the Kent County Council contract to support 1100 parents with a disabled child living in Kent with their Direct Payments. 28. Controlling party We are Beams is the ultimate controlling paty with 1 OOOA control of Beams Payroll Services. Page 42