REGISTERED COMPANY NUMBER: 06952392 (England and Wales)
REGISTERED CHARITYNUMBER: 1132994
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMEiYfs FOR THE YEAR EIYDED 31 JULY2024
FOR
THE BEACON E
UITYTRUST
Chceld Wheeler & Co
Chartered Certified Accountants
Redhill Chambers
2d High Stre¢t
Redhill
Surrey
RHI IRJ

REGISTERED COMPANYNUMBER: 06952392 (England and Wales)
REGISTERED CHARITYNUMBER: 1132994
CONTENTS OF THE FINACIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Page
Report of Trnstees
Ito6
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
10
ststement of cashflow8
11
Notes to the Financial Statements
12to16
Detailed Statsment of Financial Activities
17

THE BEACON E
UITY TRUST
Company number: 06952392
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their annual
report. The financial statements of the charity for the year ended 31 July 2024 are available on the Companies
House website at www.companieshouse.gov.uk. The trustees have adoptsd the provisions of the Statement of
Recommended Practice (SORP) 'Accounting and Reporting by Charities, issued in 2019.
2. REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06952392 (England and Wales)
Registered Charity number
1132994
Registered office
Sandells House
Cliftons Lane
Reigate
Surrey
RH2 9RA
Trustees
A Sood - Chairnian
Mrs A M Sood
HJSood
Company Secretary
A Sood
Independent examiner
David Wheeler FCCA
Cheeld Wheeler & Co
Chartered Certified Accountants
Redhill Chambers
2d High Street
Redhill
Surrey
RHI IRJ
Bankers
Santander Bank UK plc
2 Triton Square
Regent's Place
London
NWI 3AN
Legal Advisers
Burg¢s Salmon
One Glass Wharf
Bristol
BS2 OZX

THE BEACON E
urry TRUST
Company number: 06952392
REPORT OF THE TRUSTEES - continued
FOR THE YEAR ENDED 31 JULY 2024
3. STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is a charitable company limited by guarantee, as defined by the Companies Act 2006, incorporated
on 9 November 2009, and registered as a charity on 26 Nov¢mber 2009. The Company was established under a
Memorandum of Association which established the objects and powers of the charitable company and is governed
under its Articles of Association.
Trustees
There are two principal Trustees - Ajay Sood and Antonia Sood. A third Trustee, Hari Sood. is aware of his duties
and obligations as a Trustee.
Traditional business, legal and management skills are represented in the current Trustees, as well as past experience
of work in the third world aid sector focusing on Sub-saharan Africa. The Trustees usually visit East Africa to
maintain contact with local developments, market the charity, and meet Scholars and Heads of Beacon Partner
Schools. We did not visit our African Schools partners this year. but will be doing so in January 2025. The Trustees
are in regular contact with Scholars and Staff via Zoom.
We have not needed to recruit new Trustees since inception in 2009. T￿￿teeS are also the Founders. All current
Trustees are aware of their obligations as set out by the Charities Commission in England and Wales. Our principal
Trustees hold MBAS from London Business School and are trained in hard and soft skills. Additionally, all Trustees
have undergone safeguarding training and are experienced in best practice for managing and developing young
people.
Risk management
Given the risk of corruption iii developing countries, all disbursements are managed directly in the United Kingdom
and overseen by a Trustee. Accounts are filed at Companies House following preparation and review by UK
chartered certified accountants.
Parental submissions to prove financial need are extensive and require tax and payroll records for validation. Our
rigorous financial disclosure process ensures that fraud and misrepresentation risks are minimised.
Also in place and regularly reviewed a￿.
Safeguarding Policy, which all staff, contractors and non-school Mentors have to read and sign.
Privacy Policy complying with the EU General Data Protection Regulation (GDPR).
Pay Policy for Independent Contractors and Consultants.
4. OBJECTIVES AND ACTIVITIES
Purposes and aims
Our charity's main purpose as set out in the objects contained in the company's Memorandum of Association, is to
promote the education of people under the age of 25 through scholarships and grants anywhere in the world.
The aim is to develop leadership potential in young people and provide access to local world-class schools and
international universities for especially talented and gifted chil(Iren who in th¢ futur¢ will have the confidence and
ability to become leaders in their chosen fields in theii. lioine couiitsy. such an educatioii would ottierwi5e be
significantly beyond their parents, means.

THE BEACO.N E
urry TRUST
Company number: 06952392
REPORT OF THE TRUSTEES - Continued
FOR THE YEAR ENDED 31 JULY 2024
Stratsgies to delllver our aims
Continuing to follow the development plan, we have further explained both the schools and university programme.
(a) The Beacon Scholarship of Schools
The essential structure we operate for the Schools Scholarship is as follows:
l. The Model
School fees for children with leadership potential are split three ways: 113 Beacon Partner School, 113 Parents and
113 The Beacon Equity Trust (BET). Parents are means-tested to ensure financial need. Applications from families
with Gross Household income above US$80k are discouraged. Applicants must re-apply every year for continuation.
2. Assessment
Scholarship awards are made on the strength of many factors including academic perfonnance. achievement in sport,
music or drama. social influence and communication. and citizenship. Applicants are rigorously assessed and
monitored by a trained educator against these 'leadership criteria..
3. Mentoring
Partner schools are expected to provide a mentor for each scholar, and report on that scholar's progress against
targets set in each of the leadership criteria using a framework called a 'Target Sheet,. Reports are sent to Trustees
for their review every school terni.
This year we awarded six new Beacon Scholarships for Schools, three in Kenya, two in Tan7Ania, and one in Zambia.
We continued to market The Beacon Scholarship for Schools in all 4 African countries in which we operate.
(b) The Beacon Scholarship for University
The operating structure of the Beacon Scholarship at University is similar to that for The Beacon Scholarship for
Schools.
l. The Model
The scholarship contributes towards tuition fees, living costs plus an annual fixed allowance for compulsory
surcharges and one return economy airfare to the Scholars hom¢ county. Costs are shared three ways; 113 Beacon
Partner Universities, 113 Parents and 113 The Beacon Equity Trust (BET). Parents are means-tested to ensure
financial need. Applications from families with Gross Household Income above US$IOOk are discouraged.
Applicants must re-apply every year for continuation.
2. Assessment
Applicants must first obtain an offer from a UK Beacon Partner University of their choice and then apply for a
Beacon Scholarship for University. Scholarship awards are made on the strength of many factors including academic
perforniance. achievement in sport, music or drama. social influence and communication. and citizenship.
Applicants are rigorously assessed against these 'leadership criteria..
3. Mentoring
Target reporting against leadership criteria works in the same way as with the Schools Scholarship above.
Additonally, each Beacon Scholar for University is paired with an Away and a Home Country Mentor, for pastoral
care and access to local and away county networks.
This year, we awarded three new Beacon Scholarships for University, one to the London School of Economics (a
Beacon Schools Scholar), one to Cardiff University, and one to the University of Surrey. Two additional provisional
candidates did not meet the terniq of their a¢ad¢mic offers, and one withdrew, New Scholars will be studying
International Social and Public Policy, Mechanical Engineering, and Sports Science & Exercise.

THE BEACON E
UITY TRUST
Company number: 06952392
REPORT OF THE TRUSTEES- continued
FOR THE YEAR ENDED 31 JULY 2024
(c} Cbanging the University fee-sharing Model
Our Memorandum of Understanding (Mou) for University Partners must be renewed every three years, with this
year being a renewal year for admissions in 2026127. Because university tuition fees continue to rise, and universities
increasingly find it administratively difficult to administer and bill the 113 cost sharing model, we approached
Partners with the idea of a Tuition fee waiver. We are ple&sed that two Partners (one new and one current) agreed to
a fijll tuition fee waiver for up to two new Beacon Scholars a year and signed a 3-year Mou. Three current Partners
moved to a transitional arrangement of a 50 % Tuition fee waiver for one year, and three Partners decided not to offer
new Beacon Scholarships for 25126 entry. Th¢ financial climate for UK universities has been adversely affected by
a restriction in government policy in granting study visas to postgraduate international students with a resultant
funding shortfall. The resulting cost containment has severely impacted scholarship funding, with some university
Partners withdrawing their support.
(d) Leadership Development
Our 2023/24 Citizenship Project presentations and Workshops proceeded unintemipted on Zoom and we
implemented our new leadership curriculum for 'asyn¢hronous learning, with great success. We delivered 5 of the
full set of 20 Modules, each with an online course followed by a workshop. We also completed content preparation
for remaining Modules and started to explore wider commercial possibilities for the programme. Our Leadership
Curriculum Manager resigned and we replaced her with a full-time Leadership Curriculum Executive based in South
Africa.
(e) Employability
This year, we concluded that we no longer required a UK Representative to look after UK university Scholars. Most
of the Scholars now rely on Beacons within their own university for support. For Employability Mentoring however,
we expanded the role of two of our Target Sheet Mentors to overs¢e Scholar progress on the Employability Pathway.
This proved to be successful with Mentors regularly checking in with Scholars after reviewing Employability targets
on their Target Sheets.
(D Alumni
By the end of the financial year, we had our third full cohort graduating from their universities. We now have 21
Beacon Scholars who have entered the workplace or gon¢ on for ￿rther study. Our challenge is fast becoming one
of creating a strong Alumni community, and during the year we appointed two Alumni to p¢rforn] paid administrative
duties aimed at continuing to build Alumni engagement.
(g) Operational Capacity
During the year we had three full time staff (Operations Manager, Operations Executive, and Leadership Curriculum
Executive) and 8 part-time staff.
(h) Technology
During the year we continued to improve our dynamic datsbase system holding Scholar profiles and ongoing
perforniance data. The system was used for recruitment and making awards. We tested the system in our recruitment
process, and leadership workshops, and have continued to fine tune its capability.

THE BEACON E
UITY TRUST
Company number.. 06952392
REPORT OF THE TRUSTEES - continued
FOR THE YEAR ENDED 31 JULY 2024
Historical timeline
2009 - BET charity founded. 5 partner schools signed (primary and secondary). initial two scholarships
awarded.
2010 - consultant (local educator) joins as local representative and introduces standardised assessment
tools. improved application procedures and new financial disclosure tool built. three new scholarship
awards, now a total of five scholars.
20 I l - eight scholars + 2 scholars sponsored in state schools. website built.
2012 - ten scholars. exploratory discussions begin for tertiary component.
2013 eleven scholars. first Beacon Scholar, gains admission to University of Manchester to study
Engineering. Beacon Scholarship for University launched with LSE and Cambridge signed as University
Partners,
2014 - fourteen scholars, 4 additional Beacon Partner Schools signed in Kenya; first Beacon Scholar
for University at Trinity College, Cambridge. New UK Co-ordinator and Kenya Beacon Rep,
2015 - seventeen scholars. two additional local education system (8-4-4) secondary schools signed; first
Beacon Scholar at LSE.
2016 - nineteen scholars. second Scholar at Cambridge. two Beacon Scholars in Prep Partner Schools
in Kenya obtain l 00 % scholarships to private schools in UK.
2017 - twenty-six scholars: 8 University, 20 Schools, including one into each of 4 new Beacon Partner
Schools signed in Tanzania. Cardiff, Surrey, Bristol signed as University Partners. Exited Prep School
Partnerships.
20 18 - thirty-one scholars: I l University of which 2 from Uganda, 20 Schools. tmperial College London
signed as a University Partner. Two new Partner Schools signed in Uganda, Exited Kenyan local
education system (8-4-4) secondary school Partnerships. Programme re-focused on International
Secondary Schools, and undergraduates in UK Partner Universities only. UK Beacon Rep recruited.
2019 - thirty-five scholars.. 16 University, 19 Schools. First University graduates secured good jobs at
McKinsey and Old Mutual. Two new Beacon Partner SchooIs signed in Zambia.
2020 - thirty-six scholars.. 17 University, 19 Schools. Two further University graduates, and 3 Schools
Scholars secure near full scholarships to Yale. UBC, and University of Toronto. One Schools Scholar
secures l OOO/o scholarship from Trinity College, Cambridge. No new additions to 13 Partner Schools.
2021- thirty-four scholars: 17 University, 17 Schools, Six University graduates, with employment offers
from top multinational firnis. University of Birniingham signed. New Ugandan Partner School (RJSU)
signed.
2022 thirty-five scholars: 17 University Scholars, 20 Schools. Seven university graduates. New
University Alumni structure set up.
2023 - thirty-five scholars., 16 University Scholars, 19 Schools. Four university graduates. University
of Exeter signed. Transition Tuition fee waiver for University Partners.
Development plan
In the longer tern] it is our intention to expand the number of International Universities and the range of Partner
Beacon Schools. We also intend to expand into neighbouring countries in sub-saharan Africa. Fundraising will be
required to continue developing and growing The Beacon Scholarship.

THE BEACON E
UITYTRUST
Company number: 06952392
REPORT OFTHE TRUSTEES- continued
FOR THE YEAR ENDED 31 JULY 2024
Public benefit
The aim is that eventually a Beacon Scholar will mak¢ a real difference to their country's development by attaining
a significant leadership position, from which they can positively impact the lives of many others
as a
'¢hangemaker' We aim for a multiplier effect., rather than investing in educating thousands, we educate a handful
of exceptional young people with real leadership potential who will, in turn. influence thousands through their
actions. It is our belief that a high-quality education for gifted and talented young people whose parents do not have
the financial means for such an education will enable the realisation of this vision.
Volunteers
The financial administrator works on a voluntary basis for approximately four days per month. Her work is
important to the smooth running of the charity.
F￿￿ANCIAL REVIEW
Cost Management
We have continued to contain our costs, and ensured that the major part of our funds is spent on the education of
Scholars. Trustees and one staff member donate their time, and our administrative costs are limited to consultancy
fees for our three full-time and eight part-time staff in Kenya, Tanzania, South Africa and the UK.
Th¢ trust received donations and gift aid of £546,454 in the year (2023 - £575,560) and made a surplus for the year
of £114,283 (2023 - £130,413). As at 31 July 2024, the charity had general reserves of £972,355 (2023 - £858,072)
which will more than cover the financial commitments in ternis of anticipated university and school fees of £733,036
(2023 - £790,304).
Funding sources and their stability
The main source of funds continues to be private donations from the Sood family and associated entities, and in the
future we will seek to diversify our funding sources. This principal source of donor funding will continue into the
foreseeable future, but in order to continue growing we will look to broaden from this base by seeking additional
external donors.
Hardship fund
In 2023124 there was a loan of £5,118 to a Beacon Scholar to enable university funding, The loan is to be repaid over
3 years and we received a repayment of £1,706 in February 2024. Further repayments of £1,706 are scheduled for
February 2025 and February 2026. Uses for donations to the Hardship Fund are strictly governed by a Constitution.
Reserves policy
We have a policy of reserving funds for future liabilities, i.e. the continuation of scholarships for their natural
duration. The reserve is calculated on the basis of Continuation of each present Beacon Scholar's award until the end
of their education at their current school or undergraduate university stage.
Statement of trustees, responsibilities
The charity trustees (who are also the directors of The Beacon Equity Trust for th¢ purposes of company law) are
responsible for preparing the trustees, annual report and financial statements in accordanc¢ with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare the financial statements for each year which give a true and
fair view of the charitable company and of the income and expenditure of the charity for that period. In preparing
the financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently.
observe the methods and principles in the charities SORP.
make judgements and estimates that are reasonable and prudent.

THE Bfi,.4CO_N E
IrITY TRUST
Company number: 06952392
RLI PORT OF THE TRIISTEES - continued
FOR THE4 I"EAR EI NDE4 D 31 JtiLY 2024
state whether applicable UK accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in business
Th¢ trustccs are responsible for keeping proper accounting records that disclose with reasonable accuracy at any
time the financial position of the charity and to enable them to ensure that th¢ financial statetncnts comply with the
Companies Act 2006. They are also rcsponsiblc for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other iLTegularities.
The t￿￿teeS are responsible for the maintenance and integrity of the charity and the financial inforn]ation included
on the charity's website in accordance with legislation in the United Kingdom governing the preparation and
dissemination of financial statements.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006
relating to small companies.
Approved by ord¢r of the board of trustees on
11. Il ?ul
and signed on its behalf by:
A Sood - Trustee

THE BEACON E
urry TRUST
Company number: 06952392
Independent examiner's report to the trustees of The Beacon Equity Trust ('the Company,)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2024
Responsibilities and basis of report
As the charity's trustees of the Company (and also the directors for the purposes of company law) you are responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the company are not required to be audit¢d under Part 16 of the 2006
Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts
as Ca￿led out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have
followed the directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of the listed body. I can
confinn that I am qualified to undertake the examination because I am a member of the Association of Chartered
Certified Accountants. which is one of the listed bodies.
I have completed my examination. I can confirn) that no matters have come to my attention in connection with the
examination giving me cause to believe..
accounting records were not kept in respect of the Company as required by Section 3 86 of the 2006 Act. or
2. the accounts do not accord with those records. or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any
requirements that the accounts give a true and fair view which is not a matter considered as part of an independent
examination. or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practise for accounting and reporting by charities (applicable to charities preparing their acKounts
in accordance with the Financial Reporting Standard appliable in the UK and Republic of Ireland (FRS102)).
I have no concerns and have come across no other matters in connection with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
David Wheeler FCCA
Cheeld Wheeler & Co
Chartered Certified Accountants
Redhill Chambers
2d High Str¢¢t
R¢dhill
Surrey
RHI IRJ

THE BEACON E
UITY TRUST
Company numb¢r'. 06952392
STATEMENf OF FINANCIAL ACTIVITIES
INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2024
2024
Total
Funds
2023
Total
Funds
Unrestricted
nds
Restricted
Fund
Notes
INCOME AND ENDOWMENtS
Donations and gift aid
Investment income
546,454
32,441
13,432
559,886
32,441
575,560
10,263
Totsl income
578,895
13,432
592 327
585,823
EXPENDITURE ON
Cbaritable activities
Grants to individuals
Support costs
333,312
131.300
13,432
346,744
131,300
331,876
123,534
Total expenditure
464,612
13,432
478,044
455,410
NET INCOME
114,283
114,283
130,413
RECONCILIATION OF FUNDS
Total funds brought fonvard
858 072
858,072
727,659
TOTAL FUNDS CARRIED
FORWARD
972,355
972,355
858 072
The notes fonn part of these financial ststements

TEIE BlI.4CON
LTITY TRUST
Company number: 06952392
BALANCE SHEET
31 JULY 2024
2024
Total
Funds
2023
Total
Funds
Unrestricted
Funds
Restrict¢d
Fund
Notes
CURRENT ASSETS
Debtors
Cash at bank
Total current assets
3,412
969,933
973,345
3,412
969,933
973,345
859.062
859,062
CREDITORS
Amounts falling due within one
year
(990)
(990)
(990)
IYET CIJRRENT ASSETS
968.943
3,412
972,355
858.072
TOTALASSETS LESS
CURRENT LIABILITIES
972,355
858,072
NET ASSETS
968.943
3,412
972,355
858,072
Unr¢stricted fvnds:
General fund
Hardship fund
867,065
105.290
972,355
752,782
105,290
£858,072
Restricted funds
Restricted Fund
TOTAL CHARITY FUNDS
£972,355
£8 j 8,117?
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the
year ended 3 l July 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July
2024 in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
ensuring that the charitable company keeps accounting records that comply with sections 3 86 and 3 87 of the
Companies Act 2006.
2. prcparing financial statements which give a true and fair view of the stste of affairs of the charitable company
as at th¢ end of each financial year and of its surplus of deficit for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with thc requirements of the Companies Act
2006 Iclating to financial statements, so far as applicable to the charitable company
Thesc fitwicial statements have been prepared in accordance with the provisions applicable in the charitable
companies subject to thc small companies, regime.
The financial statements were appi.ov
werc signcd on its bchalf by:
by the Board of Trustees and authorised for issue on
A Sood - Trustee
The notes fonn part of these fman¢ial statements
io

THE BEAcofs E
UITY TRUST
Company number: 06952392
STATEIIIEtDrr OF CASHFLOWS
31 JULY 2024
2024
2023
Cashflows from operating activities
78,430
120 150
Cashllows from investing activities
Dividends and interest
Net cash provided by investing activities
32,441
32,441
10,263
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting
period
Cash and cash equivalents at the end of the reporting period
110,871
130,413
859,062
969,933
728 649
859,062
Analysis of casb and cash equivalents
Cash at bank and in hand
969,933
859,062
Reconciliation of net movement in funds to net cashllow
from operating activities
Net movement in funds for the reporting period
114,283
130,413
Adjustments for:
Dividends and interest
Increase in debtors
(32,441)
(3,412)
(10,263)
78,430
120,150
li

THE BEACON E
UITY TRUST
Company number: 06952392
NOTES TO THE FINACIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
I. STATUTORYINFORMATIOIY
The Beacon Equity Trust is a charitable company, limited by guarantee, registered in England and Wales. The
registered number, registered charity number and registered office can be found in the reference and Administrative
Details section of the Trustees Report on page l.
2. ACCOUNTING POLICIES
Basis of preparing financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance 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
Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019), Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies
Act 2006. The financial statements have been prepared under the historical cost convention.
The Ch￿Itable company is a public benefit entity.
The financial statements are prepared on a going concern b&sis
The financial statements are prepared in Sterling which is the fijnctional currency of the company.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, and
it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity
to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount
of the obligation can be measured reliably. Expenditure is acwunted for on an accruals basis and has been classified
under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular
headings, they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not
accrued as expenditure
Taxation
The charity is exempt from the corporation tax and value added tax on its charitable activities
Fund accounting
Unrestricted funds can be used in accordance with the charitsble objectives at the discretion of the trustees,
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions
aris¢ when specified by the donor or when the funds are rais¢d for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign Lurrencies are translated into sterling at the rates of exchange ruling at the balance
sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of
transaction. Exchange differences are taken in to account in arriving at the operating result.
12

THE BEACON E
UITY TRUST
Company number: 06952392
NOTES OF THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 JULY 2024
Cash at bank
Cash at bank represents funds held in a UK based high street bank. Interest received on deposit accounts is
recognised when it is received,
3. INVESTMENT INCO￿
2024
2023
Interest receivable
32,441
10,263
4. TRUSTEES, RElItUNERATION AND BENEFITS
There were no trustees. remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31
July 2023.
Trustses, expenses
There were no trustees, expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.
5. STAFF COSTS
The average monthly number of employees during the year w&8 as follows:
2024
2023
Trustees
No employees received emoluments in excess of £60,000.
6. COMPARATIVES FOR THE STATEMENT OF FtNANCIALACTIVITIES
Unrestricted
funds
Restricted
fund
2023
Total funds
INCOME AND E￿IDOWmE￿Ts FROM
Donations and legaci¢s
Investment income
575,560
10,263
575,560
10,263
Total income
585,823
585.823
EXPENDITURE ON
Charitable activities
Grants to individuals
Support costs
331,876
123,534
331,876
123,534
Total expenses
455,410
455,410
NET tNCOME
130,413
130.413
RECONCILIATION OF FUIYDS
Total ftmds brought fonvard
727,659
727,659
TOTALFUNDS CARRIED FORWARD
858 072
858,072
13

THE BEACON E
UITYTRUST
Company number., 06952392
NOTES TO THE FJJANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 JULY 2024
7. FUND ACCOUNTING
Included within the accounts are three types of funds:
l - General Fund
2 - Hardship Fund
3 - Restricted Fund
General Fund
The General Fund is used in accordance with the charitable objectives at the discretion of the trustees.
Hardsbip Fund
The Hardship Fund is used to provide support to the charity's b¢neficiari¢s and their families in times of financial
hardship.
Restricted Fund
The Restricted Fund can only be used for particular restricted purposes within the objectlves of the charity. These
restrictions are specified by the donors or when the funds are raised for restricted puryoses. The most common nature
of these restrictions is that the funds can only be used for meeting the charitable objectives for a specified beneficiary.
8. CREDrfoRS: AMOUNTS FALLING DUE WITHIN OI¥E YEAR
2024
2023
Accrued expenses
990
990
9. MOVEMENT lly FUNDS
Net
Movement in
fiu]ds
At 1.8.23
At 31.7.24
Unrestricted funds
General fund
Hardship fund
752,782
105 290
858,072
110,886
3,397
114,283
863,668
108,687
972,355
Restricted funds
Restricted fund
TOTAL FUNDS
858,072
114,283
972,355
Net movements in funds, included in the above are as follows:
Movement in
nds
Income
Expenditure
Unrestricted funds
General fund
Hardship ￿nd
575.478
(464,612)
110,886
3,397
114,283
578.875
{464,612)
Restricted fund8
Restricted fund
13,432
(13,432)
TOTAL FUNDS
592 327
478,044)
114,283
14

THE BEACON E
UITY TRUST
Company number.. 06952392
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 JULY 2024
9. MOVEMEwf ]N Ful￿s- continued
Comparatives for movement in funds
Net
Movement in
funds
At 1.8.22
At 31.7.23
Unrestrictsd funds
General fund
Hardship fund
624,219
103,440
727,659
128,563
1,850
130,413
752,782
105,290
858,072
Restricted funds
Restricted fijnd
TOTAL FUNDS
727 659
130,413
858,072
Comparative net movement in funds, included in the above are as follows:
Movement in
funds
Income
Expenditure
UDrestricted funds
General fund
Hardship fimd
583,973
1,850
585,823
455,410
123,563
1.850
130,413
455,410
Restricted funds
R¢stricted fund
TOTAL FUNDS
595,823
455,410
130,413
10. RELATED PARTY DISCLOSURES
There are no related paty transactions for the year ended 31 July 2024 or for the year to 31 July 2023, ex￿pt that
donations of £440,000 were received from the trustees (2023 - £543.138). No specific conditions were made by the
donors.
15

THE BEACON E
UITY TRUST
Company number: 06952392
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR EfqDED 31 JUY 2024
11. GRANT COMMITMEIYTS
The charity is committed to support each beneficiary of the individual grants throughout their secondary and
undergraduate education. The grants committed. subject to the beneficiary meeting the required educational
standards as stipulated by their educational institution, are as follows:
2024
2023
Due < l year
Due 1-2 years
Due 2-3 years
Due 3-4 years
Due 4-5 years
Due > 5 y¢ars
298,747
289,055
95,845
35,878
13,511
333,403
256,714
161,635
29,374
9,178
£733 036
£790,304
12. ULTIMATE CONTROLLING PARTY
The company is under the control of Mr & Mrs A Sood and Mr H J Sood as trustees of the company.
13. llYDEPENDENT EXA1￿[NATIoN AND OTHER FINANCIAL SERVICE FEES
The following are the fees payable to the independent examiner for services provided during the accounting period..
Service provided:
2024
Fee charged
2023
Fee charged
(£)
(£)
Accountancy services & independent examination
990
990
Total fee charged
990
990
14. GOING CONCERN
Thes¢ accounts are produced on a going concern basis. There are no material uncertainties regarding the charities
ability to continue. The charity has sufficient reserves to meet its grant commitments for a numb¢r of years and is
still receiving sufficient donations to support its charitable objectives.
15. VOLUNTEERS
As stated in the trustees, report, the financial administrator works on a voluntary basis for approximately four days
per week, and is essential to the smooth running of the charity.
16