REGISTERED COMPANY NUMBER: 10756127 (England and Wales}
REGISTERED CHARITY NUMBER.. 1181864
Report of the Trustees and
Financial Statements
for the Year Ended 31 May 2023
for
The Beam Foundatlon
Locke Williams Associates LLP
Chartered Accountsnts
Registered Auditors
clo Blackthorn House
Sl Pauls Square
Birmingham
Wesl Midlands
B31RL

**The Beam Foundation** 

## **Contents of the Financial Statements for the Year Ended 31 May 2023** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to  6|
|**Report of the Independent Auditors**|7 to  9|
|**Statement of Financial Activities**|10|
|**Balance Sheet**|11|
|**Cash Flow Statement**|12|
|**Notes to the Financial Statements**|13 to  20|





The Beam Foundation
Report of the Trustees
for the Year Ended 31 May 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their
report with the financial statements of the charity for the year ended 31 May 2023. The Iruslees have adopted
the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo
harities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 (effective 1 January 20191.
OBJECTIVES AND ACTIVITIES
Objectives and aims
During the period lunlil April 20231, the charity's objects were".
o to promote the education of individuals, in particular, bul not exclusively, homeless individu81s,
individuals with disabilities and individuals who have 8 criminal record, in such ways as the charity
trustees think fit, including by providing assistance lo find and fundraise educational courses and
training., and
o to relieve unemployment, in particular but not exclusively amongst homeless individuals, individuals
with disabilities and individuals who have a criminal record, in such ways as may be thought fit,
including providing assistan￿ lo fi'nd employment, in each case for the public benefit.
In April 2023 the charity's objects were amended to reflect the widening range ofsetvices offered by the charity
lo ils members.
Since April 2023, the charity's objects are the relief of poverty, for the public benefit. This is including bul not
exclusively for people who are homeless or at risk of homelessness, refugees, individuals with disabilities and
individuals who have a criminal record, in such ways as the charity Iruslees think fit, including by..
IA) providing assistance to find employment,.
IBI funding including by means of crowdfunding, educational courses and training aimed to help
individuals find employment,.
(Cl promoting financial security through education and employment., and
IDI providing and evaluating services lo such individuals which directly or indirectly prevent, relieve,
reduce or end their homelessness.
Significant activities
The Charity achieves its objects in I￿0 main ways. Firstly, the Charity uses funds raised on its behalf by Beam
Up Ltd, Including trom ils crowdfunding website al beam.org, lo remove financial barriers for beneficiaries to
stable work and housing. including employment training, transport costs, tools, clothes and rental deposits.
Beam Up Ltd bears all the costs of developing and maintaining the website and raising donations. Secondty,
the Charity contracts Beam Up Ltd to deliver casework services lo its beneficiaries at a cost significantly below
the cost of directly employing caseworkers. The total Monthly Service Fees for the reporting period tolalled
£54,950. Caseworker salaries borne by Beam Up Ltd exclusively for the Charity's beneficiaries lotalled
£1,594,655 for the reporting period. These operational cost savings lo the Charity, across marketing and
payroll, allow a 1000/0 giving model, whereby all donations that are remitted to the Charity's bank account are
spent removing financial barriers for benefieiaries. The Charity prides itself on using its donations as efficiently
as possible to achieve its charitable objeels.
Beam Up Ltd is staffed by speeialisls in the type of casework relevant to our members as well as fundraising
experts and is led by its CEO, Alex Slephany, from whom the Charity receives a quarterly seNice level update
on the key metrics that are delegated lo Beam Up Ltd on a day-to-day basis. The team of caseworkers is led
by Beam Up Ltd's COO, Seb Barker, who is a specialist in homelessness and personalised services, having
previously worked in homelessness and social care al Thames Reach, Tuming Point and NHS England.
Publlc beneflt
The Iruslees have paid due regard lo guidance issued by the Charity Commission in deciding what activities
the charity should undertake.
Page 1

The Beam Foundation
Report of the Trustees
for the Year Ended 31 May 2023
ACHIEVEMENT AND PERFORMANCE
Fundraising
The Charity generated income of£1,024,926 for the year from donations (including Gift Aid) and grants, 12.8'/o
lower than the previous year. Pressure on income from the cosl-of-living crisis was anticipated., the reduction
is due lo the continuous pressure of macroeconomic instability on individual donors, ability lo donate. Over
2,800 members of the public donated lo the Charity in the year as well as 20 companies and 11 trusts and
foundations.
Within the reporting period, 665 people launched crowdfunding campaigns on beam.org. Using an algorithm
that 811ocates monthly donations to campaigns, Beam Up Ltd Continued in this reporting period to ensure that
every campaign was fully funded.
With respect to grants, 8 to181 of £29,000 was received from London Hostels Association and £29,000 from
LandAid.
The Charity has also provided for corporate giving through a gift card" feature built by Beam Up Ltd, which
allow individuals or businesses to make donations on behalf of others.
In addition to this, work was started on an innovative corporate giving platform called Beam for Companies,
allowing companies lo sign up in minutes and support a certain number of people each month via monthly
donations. Companies receive an impact page, ongoing reporting on impact achievements and the stories of
people supported, team engagement features and shareable content.
Fund-raising standards
The Charity has not spent donor money during the reporting period on marketing that il views as coslly lo
donors and potentially unsolicited and environmentally unfriendly. The Charity has not used, contracted or paid
for any third-party fundraising services during the reporting period. The Charity has signed up to the Code of
Fundraising Practice through the Fundraising Regulator.
Social Impact
Progress towards the Charity's Objects for the reporting period are as follows (all demonslraling significant
improvements from last yearfs reporting period, demonstrating the success and sustainability of the Charity's
modell
0 489 beneficiaries were supported lo work
0 255 beneficiaries were supported into stable housing
177 completed a programme of work In our contracts with Central Govemment Iprimarily the
Department of Work & Pensions)
Demographic background of beneficiaries
Of the totsl 1,792 beneficiaries referred within the reporting period..
0 250/0 identified as rough sleepers
0 790/0 were in Temporary Accommodation, rough sleeping or sofa-surfing
0 50/0 identify as care leavers
0 570/0 identify as parents
150/0 identify as refugees or asylum seekers
12Q/o are 25 or under
0 23Q/o are 30 or under
0 40Q/o identify as female or non-binary
0 21 Q/0 had a criminal record
0 52Q/o identify as being from an ethnic minority background
1000/0 success rate of crowdfunding campaigns launched during the reporting period
Page 2

The Beam Foundation
Report of the Trustees
for the Year Ended 31 May 2023
FINANCIAL REVIEW
Financial review
Over the reporting period, the Charity maintained reserves of over £100,000 of cash and cash equivalents at
all times, a sum that the trustees consider adequate lo cover up to three years of operational expenses. In
June 2021, the Trustees formally adopted a Reserves Policy to maintain reserves of over £100,000 of cash
and cash equivalents at all times. This policy was applicable throughout the reF)Orting period.
At the beginning of the period, the Charity had £1,142,762 of cash and cash equivalents. In the year to 31 May
2023, this means the net change in cash and cash equivalents of the Charity is £347,578 to the negative. The
C8sh and cash equivalents as of 31 May 2023 is £795,184.
Going Concern
In making the assessment of the going concern, the Trustees have considered the drop in donation income
for the period of 2022123 and have made appropriate arrangements lo address the COn￿mS arising to going
concern in the short term. Therefore Trustees consider that it is appropriate to prepare the financial statements
on a going concern basis, more detsils can be found in Note 2.
Prlnclpal fundlng sources
The Charity receives donations from the public which can be dedicated specifically to a particular campaign
on the beam.org website, or can be donated to a general pool that is allocated lo campaigns fairly.
The charity also re￿iVeS donations from corporations and trusts & foundations.
In addition, donors can opt to fund specifically Beam Up Ltd operations {Ihe Tips"). Tips are remitted to Beam
Up Ltd on a monthly basis, after deductions for the monthly cost of payment processing.
Reserves policy
At the end of the reporting period131 May 20231, the Charity had £656,258 in reslricled funds and £186,630
in unrestricted funds, being its free reserves. The unrestricted funds include gift aid claims which were not
expressly directed towards campaign costs. Unrestricted funds are, in part, used to meet the operating
expenses of the Charity.
FUTURE PLANS
Employees of Beam Up Ltd source beneficiaries on behalf of the Charity land seek lo offset the cost of
delivering services for the Charity) through conlraclual partnerships with local authorities and central
government. Having started in London, Beam Up Ltd now works in over 50 locations with Local Authorities
and Central Government. We expect continued expansion throughout the UK In 2024.
The Charity has experienced providing SLJPPOrt lo refugees among ils beneficiaries. including frorn Syria,
Afghanistan. Eritrea and Ukraine. In 2024, the Charity is expected additionally lo start working with people in
prison and prison leavers for the first time, in partnership with the Ministry of Justice.
The Beam Foundation also anticipates growing and diversifying income from the core base of individual
supporters. Primarily this will comprise trusts, foundations and corporate partnerships. Beam Up Ltd will be
expanding a'community" team to source and manage new funder relationships. Due to our approach of radical
transparency and excellence in impact measurement enabled by Beam Up Ltd's technology, we expect to be
able to provide best in class reporting and relationship management to these funders.
To support the work of partnering with more government bodies around the UK and service delivery, Beam Up
Ltd has employed leaders. bid writers, partnerships managers, and account managers at no additional cost to
the Charity or its donors.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity constitution and governing document
The Beam Foundation is a private company limited by guarantee incorporated in England and Wales. It is
governed by ils Articles of Association, which were amended on 27 March 2023.
Page 3

The Beam Foundation
Report of the Trustees
for the Year Ended 31 May 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
New Trustees are appointed by resolution of the Board from suitable members of the community who have
the skills the Board requires.
The Trustees conducted a skills and experience analysis and have decided to augment the Board with new
hires with specialisms in charity finances and charity govemance in 2023. The Trustees have found a new
Trustee & Treasurer trustee lo be officially appointed in 2024 and the charity govemance trustee search will
be postponed lo 2024.
Organisational structure
As highlighted above, the Ttustees delegate the specific casework and deployment of Charity funds to Beam
Up Ltd, bul this is on close instruction and is monitored in quartedy status update meetings with CEO, Alex
Stephany. These meetings are focussed on key metrics as described above Isuch as the number of people
supported into workl as well as reports on safeguarding and risk in relation lo members and staff, new initiatives
aligned to our Objects and also fundraising perfomance and financial reserves. The Charity does not employ
any staff.
Decision making
The Charity is governed by its Articles of Association. The Trustees review activity in line with its Objects each
quarter, as well as reviewing the risk register of the charity, any live safeguarding mallers, financial
performance, operations and social impact as described above as well as attending lo any continuing to evolve
the governance of the Charity to be proportionate and appropriate lo its size and complexity.
Decisions are made in the quarterly Trustee meetings (video-conferen￿) by a simple majority and in the
instance of a split vole the Chair (Dean Nashl has a casting vote.
Induction and training of new trustees
New Trustees are trained on relevant governance mallers and the nature of their duties Icoordinaled by our
external advisors), the details and Servi￿ levels of ils arrangements with Beam Up Ltd, and receive a quarterly
update report on the key metrics of the Charity. In addition, Trustees have a focus on specific areas that match
their background and expertise and build relationships with members of Beam Up Ltd in front-line casework,
fvjndraising, finance and operations lo better understand the day-to-day work being delegated.
Related parties
The charity is administered by the company Beam Up Ltd. Beam Up Ltd charges Monthly Service Fees to the
harity for the day-to-day SLJPPOrt costs and overheads that il incurs on behalf of the charity al below market
osts, as described above. Further details are given in the notes lo these financial statements.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
10756127 IEngland and Wales)
Registered Charity number
1181864
Reglstered offlce
Senna Building
Gorsuch Place
London
E2 8JF
Page 4

The Beam Foundation
Report of the Trustees
for the Year Ended 31 May 2023
Trustees
Ms A Appiah
Ms S Jordan
Mr D Nash
Mr T Thomas
None of the trustees has any beneficial interest in the company. All of the trustees are members ofthe company
and guarantee to contribute £1 in the event of 8 winding up.
Auditors
Locke Williams Associates LLP
Chartered Aecounlanls
Registered Auditors
clo Blackthorn House
St Pauls Square
Birmingham
West Midlands
B3 1RL
Advisers and bankers
The Charity's solicitors are Slaughter & May LLP of One Bunhill Row, London, EC1 Y 8YY.
The Charity banks with Natwesl through a Business Account and has a Wise plc Business Account for day to
day operational expenses.
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Iruslees (who are also the directors of The Beam Foundation for the purposes of company lawl are
responsible for preparing the Report of the Trustees and the financial statements in accordan￿ with applicable
law and United Kingdom Accounting Standards Iuniled Kingdom Generally AC￿pted Accounting Practi￿}
including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland"
Company law requires the trustees lo prepare financial statements for each financial year which give a true
and fair view of the slate of affairs of the charitable company and of the incoming resources and application of
resources, including the income and expenditure, of the charitable company for that period. In preparing those
financial slatemenls, the Iruslees are required to
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charity SORP.,
make judgements and eslimales that are reasonable and prudent.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
haritable company will continue in business.
The Iruslees a￿ responsible for keeping proper accounting records which disclose with reasonable accuracy
at any time the financial position of the charitable eompany and to enable them to ensu￿ that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the
charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
In so far as the trustees are aware..
there is no relevant audit information of which the charitable company's auditors are unaware., and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant
audit information and lo establish that the auditors are aware of that information.
Page 5

The Beam Foundation
Report of the Trustees
for the Year Ended 31 May 2023
AUDITORS
The auditors, Locke Williams Associates LLP, will be proposed for re-appointment at the forthcoming Annual
General Meeting.
Approved by order of the board of trustees on 6 February 2024 and signed on its behalf by..
Mr D Nash - Trustee
Page 6

LOCKEWILLIAMS
-• ASSOCIATES LLP
Report of the Independent Audltors to the Trustees of
The Beam Foundation
Opinion
We have audited the financial statements of The Beam Foundation Ilhe 'charilable company'l for the year
ended 31 May 2023 which comprise the Statement of Financial Aclivilies, the Balance Sheet, the Cash Flow
statement and notes lo the financial slalements, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,.
In our opinion the financial statements..
give a true and fair view of the slate of the charitable company's affairs as at 31 May 2023 and of ils
Incoming resources and application of reSoUr￿s, including Ils income and expenditure, for the year then
ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted AccoLJnting Practice,
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities
for the audit of the financial statements section of our report. We are independent of the charitable company
in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK,
including the FRC'S Ethical Stsndard, and the provisions available for small entities, in the circumstances set
out in note 16 to the fi'nancial statements, and we have fulfilled our other ethical responsibilities in accord8nce
with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate
lo provide a basis for our opinion.
Conclusions relating to going Concern
In auditing the fi'nancial slalemenls, 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 work we have perfomied, we have not identified any material uncertainties relating lo events or
conditions that, individually or collectively, may cast signifi'cant doubt on the charitable company's ability to
continue as a going concern for a period of at least ￿e1ve months from when the financial slalemenls are
aulhorised for issue.
Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in the
relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information
Included in the Annual Report, other than the financial stslemenls and our Report of the Independent Auditors
Ihereon.
Our opinion on the financial stslements d￿S not cover the other Infomialion and, ex￿pt lo the extent
otherwise explicitly stated in our report, we do not express any form of assLJrance conclusion thereon.
In connection with our audit of the financial slatemenls, 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 audit or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatements, we are required lo determine whether this gives
rise to a material misstatement in the financial statements themselves. If, based on the work we have
performed, we conclLJde that there is a material misstalemenl of this other information, we are required lo
report that facL We have nothing to report in this [￿ard.
Page 7

Report of the Independent Auditors to the Trustees of
The Beam Foundation
Matters on which we are required to report by exception
We have nothing lo report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report lo you if, in our opinion..
the information given in the Report of the Trustees is inconsislenl in any material respect with the financial
slalements., or
the charitable company has not kept adequate accounting records., or
the financial statements are not in agreement with the accounting records and returns., or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees. Responsibilities, the trustees (who are also the directors
of the Charitable company for the purposes of company lawl are responsible for the preparation of the financial
slalements and for being satisfied that they give a true and fair view, and for such internal control as the
Iruslees determine Is necessary lo enable the preparation of financial statements that are free from material
misstslement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's
ability lo continue as a going concern, disclosing, as applicable. mallers related to going concem and using
the going concern basis of accounting unless the trLJStees either intend to liquidate the charitable company or
lo cease operations, or have no realistic alternative but to do so.
Our responslbllltles for the audlt of the flnanclal statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordan
with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misslatemenl, whether due lo fraud or error, and lo issue a Report of the Independent Auditors
that includes our opinion. Reasonable assurance is a high level of assuonce, but is not a guarantee that an
audit conducted in accordance with ISAS IUKI will always detect a material misstatement when il exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected lo influence the economic decisions of users taken on the basis of these
financial ststemenls.
The exlenl to which our procedures are capable of detecting irregularities, including fraud is detailed below..
Irregularities are instsnces of non-compliance with laws and regulations. The objectives of our audit are to
obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct
effect on the detemiination of material amounts and disclosures in the financial stalemenls, lo perform audit
procedures lo help identify instances of non-compliance with other laws and regulations that may have a
material effect on the financial slalements, and to respond appropriately to identified or suspected non-
compliance with laws and regulations identified during the audit.
In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of
the financial statements due lo fraud, to obtain sufficient appropriate audit evidence regarding the assessed
risks of material misstatement due lo fraud through designing and implementing appropriate responses and to
respond appropriately to fraud or suspected fraud identified during the audit.
However, it is the primary responsibility of management, with the oversight of those charged with governance,
lo ensure that the charity's operations are conducted in accordance with the provisions of laws and regulations
and for the prevention and detection of fraud.
Page 8

Report of the Independent Auditors to the Trustees of
The Beam Foundation
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, we..
obtained an understanding of the nature of the sector, including the legal and regulatory frameworks
that the charity operates in and how the charity is complying with the legal and regulatory frameworks.,
inquired of management, and those charged with governance, about their own identification and
assessment of the risks of irregularities, including any known actual, suspected or alleged instances
of fraud.,
discussed matters about non-compliance with laws and regulations and how fraud might occur
including assessment of how and where the financial statements may be SUS￿ptib1e lo fraud.
As a result of these procedures we consider the most significant laws and regulations that have a direct impact
on the financial statements are the Companies Act 2006. the Charities Act 2011, the Charities SORP IFRS
1021, the charity's governing document and UK tax legislation. We performed audit proTrdures lo detect non-
compliance which may have a material impact on the financial statements which included reviewing the
financial statements including the Trustees, Report, remaining alert to new or unusual transactions which may
not be in accordan￿ with the governing documents, inspecting Corresponden￿ and evaluating any advice
received from external advisors where necessary.
We also addressed the risk of management override of internal controls, including testing joumals and
hecking the authorisalion of expenditure as part of our substantive testing, using analytical review to identify
any significant or unusual transactions and evaluating whether there was evidence of bias by the Iruslees that
represented a risk of material misstatement due lo fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al www.frc.org.uklaudilorsresponsibilities. This description forms part of our
Report of the Independent Auditors.
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the
Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we Might
slate lo the chari18ble company's Iruslees those matters we are required to slate to them in an auditors, report
and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charitable company and the charitsble company's trustees as a body, for our auditwork,
for this report, or for the opinions we have formed.
Locke Williams Associates LLP
Chartered Accounlanls
Registered Auditors
Eligible lo act as an auditor in temis of Section 1212 of the Companies Act 2006
clo Blackthorn House
st Pauls Square
Birmingham
West Midlands
B3 1RL
Date. 0710212024
TRUSTED ACCOUNTING SOLufsoNS
ICAEW
CHARTERED
ACCQUNTANTS
P*ty5teredth Er*rXl*￿w*
K¥r1M¥Wli￿f£AOA TEP
'Page 9
T all ?1 MP
info@lockewilliams.com vThvw.lockewilliam3.com

The Beam Foundation
statement of Financial Activities
Ilncorporating an Income and Expenditure Account)
for the Year Ended 31 May 2023
31.5.23
Total
funds
31.5.22
Total
funds
Unrestricted
fund
Reslricled
fund
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
97.349
924.669
1.022.018
1,175,774
Other income
2.908
2,908
Total
100.257
924.669
1.024.926
1,175,774
EXPENDITURE ON
Charitable activities
Charitable activities
1,265,209
1,265,209
759,421
Other
59.072
68,644
Total
1265 209
1324 281
828,065
NET INCOMEIIEXPENDITUREI
41,185
1340,5401
1299,3551
347,709
RECONCILIATION OF FUNDS
Totsl funds brought forward
145,445
996,798
1,142,243
794,534
TOTAL FUNDS CARRIED FORWARD
186,630
656,258
842,888
1,142,243
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing aclivilies.
The notes form part of these financial statements
Page10

The Beam Foundation (Registered number: 107561271
Balance Sheet
31 May 2023
31.5.23
31.5.22
Notes
CURRENT ASSETS
Debtors
Cash al bank and in hand
58.269
794.184
30,788
1,141,761
852,453
1,172,549
CREDITORS
Amounts falling due within one year
12
{9.5651
130,3061
NET CURRENT ASSETS
842 888
1,142,243
TOTAL ASSETS LESS CURRENT
LIABILITIES
842,888
1,142,243
NET ASSETS
842,888
1, 142,243
FUNDS
Unrestricted funds
Restricted funds
14
186,630
656,258
145,445
996,798
TOTAL FUNDS
842,888
1,142,243
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for
the year ended 31 May 2023.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an
audit of these financial sl8temenls.
The trustees acknowledge their responsibilities for
lal
ensuring that the charitable company keeps accounts'ng records that comply with Sections 386 and 387
of the Companies Act 2006 and
Ibl preparing financial statements which give a true and fair view of the stste of affairs of the charitsble
company as at the end of each financial year and of ils surplus or deficit for each financial year in
accordan￿ with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating lo financial ststements, so far as applicable lo the
charitable company.
These financial stslemenls have been audited under the requirements of Section 145 of the Charities Act
2011.
These financial statements have been prepared in accordance with the provisions applicable lo charitable
companies subject to the small companies regime.
The financial slalemenls were approved by the Board of Trustees and aulhorised for issue on 6 February 2024
and were signed on ils behalf by..
Mr D Nash - Trustee
The notes form part of these financial statements
Page11

The Beam Foundation
Cash Flow Statement
for the Year Ended 31 May 2023
31.5.23
31.5.22
Notes
Cash flows from operating activities
Cash generated from operations
17
347.577)
302,488
Net cash (used inllprovided by operating activities
347 577)
302,488
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
1347.577)
302,488
1,141,761
839,273
Cash and cash equivalents at thg end
of the reporting period
794,184
1,141,761
The notes form part of these financial statements
Page12

The Beam Foundation
Notes to the Financial Statements
for the Year Ended 31 May 2023
CHARITY INFORMATION
The Beam Foundation is a private company limited by guarantee incorporated in England and Wales.
The registered office is Senna Building Gorsuch Place CIO Wework London E2 8JF.
ACCOUNTING POLICIES
Basis of preparing the 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 IFRS 1021 'Accounling and Reporting by
Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 leffective 1 January 20191,, 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 financial statements are prepared in sterfing, which is the functional currency of the charity.
Monetary amoLJnts in these financial statements are rounded to the nearest £.
Going concem
The Trustees consider that il is appropriate to prepare the financial statements on a going concern
basis. The going concern assumption is based on two main initiatives". a new Business Plan
commencing in January 2024 and foming a strategic short-lerm revolving loan facility. The short-lerm
revolving loan facility will be used only when required and will mostly focus on supporting activities of
the charity in 2024. A new Business Plan commencing January 2024 is focusing on expansion
throughout the UK in 2024 and growing and diversifying income through a core base of individual
supporters, such as". trusts, foundations and corporate partnerships. More focus will also be given
towards growing platform Beam for Companies, allowing companies to support a certain number of
people via monthly donations. As a result of all the above the Trustees consider the going concern basis
to be appropriate.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement lo the
funds, il is probable that the income will be received and the amount can be measured reliably.
Cash donations are recognised on re￿ipt. Other donations are recognised once the charity has been
notified of the donation, unless performance conditions require deferral of the amount. Income tax
recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the
lime of the donation.
The Beam Foundation operates a 1000/y giving model, where the entirely of a donation towards a
campaign goes to the person being supported. Salaries and overheads are not paid out of these
donations. All such donations are treated as restricted income.
However donors are asked al the point of their donation to make an additional contribution, of an
additional 50/0 to 50'/o, towards the support costs of the charity. Any amount of additional donation made
in this way Is treated as unreslricled income.
Income received from Gift Aid claims is accounted for as unrestricted income in its entirety, since al the
time of donation, only the donation amount itself is expressly directed towards campaign costs with no
such expression in respect of any Gift Aid claim that might be possible. Accordingly, since the donors
have not specified otherwise, the treatment of Gift Aid income as unrestricted is considered to be in
accordance with the Charities SORP.
Page13

The Beam Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 May 2023
ACCOUNTING POLICIES - contlnued
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal orconstruclive obligation committing
the charity to that expenditure, il 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 accounted for on
an accruals basis and has been classified under headings that aggregate all cost related lo the category.
Vlfftere costs cannot be directly allribuled lo particular headings they have been allocated lo activities
on a basis consistent with the use of reSoUr￿s. Expenses include VAT where applicable as the
company cannot reclaim It.
Allocation and apportionment of costs
Direct costs of the charity are those incurred to direclty support people to gel new jobs and homes.
Expenditure Includes training and equipment for employment, accommodation and housing costs and
hildcare. All direct costs are paid out of donations made towards campaigns.
SupFX)rt costs are those essential costs that assist with the day-104ay work of the Beam Foundation,
but do not directly represent campaign expenditure and include office costs, govemance costs and
other administrative costs. The majority of support costs are borne directly by Beam Up Ltd and are
passed onto the charity through a monthly management charge which is equivalent to the support costs
donations received each month.
Governance costs comprise costs for the running of the Charity itself as an organisation.
Taxation
The charity is registered with the Charity Commission and under the provisions of Section 478
Corporation Tax Act 2010, is exempl from liability lo taxation on its charitable activities.
Financial instruments
The Charity only has financial assets and 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. These basic financial instruments include debtors and creditors, receivable or
payable within one year and with no with slated interest rate.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are
shown within borrowings in current liabilities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives al the discretion of the
Iruslees.
Reslricled funds can only be used for particular restricted purposes within the objects of the charity.
Reslriclions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Further explanation of the nature and purpose of each fund is included in the notes lo the financial
statements.
Page 14

The Beam Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 May 2023
DONATIONS AND LEGACIES
31.5.23
31.5.22
Donations
Gift aid
Grants
870.710
93.308
58.000
1,040,087
105,687
30,000
1022 018
1,175,774
Grants received, included in the above, are as follows..
31.5.23
31.5.22
Banham Foundation
London Hostels Association
LandAid
30,000
29,000
29,000
58,000
30,000
CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 51
Charitable activities
1,265,209
DIRECT COSTS OF CHARITABLE ACTIVITIES
31.5.23
31.5.22
Courses
Travel
IT sofbN8re and equipment
Equipment
Childcare
Accommodation
Other expenditure
132,151
44,738
147,885
69,921
73,450
783,330
157,460
41,171
135,381
47,534
33,929
336,686
7,260
1,265,209
759,421
Page15

The Beam Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 May 2023
SUPPORT COSTS
Goveman
costs
Management
Totals
Other reSoUr￿S expended
56.462
2.610
59.072
Support costs, included in the above, are as follows..
31.5.23
Other
resources
expended
31.5.22
Total
activities
Sundries
Management overhead
Accountancy
Bank fees
Software costs
Auditors, remuneration
673
60,019
2,400
332
1,680
54,950
454
1,050
59,072
68,644
NET INCOMEIIEXPENDITUREI
Net incomellexpenditure) is slated after chargingllcreditingl..
31.5.23
31.5.22
Auditors, remuneration
3,540
TRUSTEES. REMUNERATION AND BENEFITS
There were no Iruslees, remuneration or other benefits for the year ended 31 May 2023 nor for the year
ended 31 May 2022.
Trustees. expenses
There were no trustees, expenses paid for the year ended 31 May 2023 nor for the year ended
31 May 2022.
STAFF COSTS
There were no employees during the year.
Page16

The Beam Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 May 2023
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unreslricled
fund
Restricted
fund
Total
fvnds
INCOME AND ENDOWMENTS FROM
Donations and legacies
49,609
1,126,165
1,175,774
EXPENDITURE ON
Charitable activities
Charitable activities
759,421
759,421
Other
68,644
68,644
Total
68,644
759,421
828.065
NET INCOMEIIEXPENDITUREI
119,0351
366,744
347,709
RECONCILIATION OF FUNDS
Total funds brought forward
164,480
630,054
794.534
TOTAL FUNDS CARRIED FORWARD
145,445
996,798
1,142,243
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23
31.5.22
Trade debtors
Other debtors
Prepayments and accrued income
1,037
50,097
22,097
8,691
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23
31.5.22
Tode creditors
Accruals and deferred income
3,41 S
26,766
3,540
30,306
Page17

The Beam Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 May 2023
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.5.23
Total
funds
31.5.22
Total
funds
Unrestricted Restricted
fund
fund
Current assets
Current liabilities
196,195
9.565}
656.258
852.453
9.565)
1,172,549
30,3061
186.630
656.258
1,142,243
14. MOVEMENT IN FUNDS
Net
movement
in funds
Al
31.5.23
At 1.6.22
Unrestricted funds
General fund
145,445
41.185
186.630
Restricted funds
Restricted
996,798
1340,540}
656,258
TOTAL FUNDS
1,142,243
299,355}
842,888
Net movement in funds, included in the above are as follows..
Incoming
resourTrs
Resources
expended
Movement
in funds
Unrestricted funds
General fund
100,257
159,072)
41,185
Restricted funds
Restricted
924,669
{1,265,209)
1340,540)
TOTAL FUNDS
1,024,926
1 324,281)
299,355)
Comparatives for movement in funds
Net
movement
in funds
At
31.5.22
At 1.6.21
Unrestricted funds
General fund
164,480
119,035)
145,445
Restricted funds
Restricted
630,054
366,744
996.798
TOTAL FUNDS
794 534
347 709
1,142 243
Page18

The Beam Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 May 2023
14.
MOVEMENT IN FUNDS- contlnued
Comparative net movement in funds, included in the above are as follows..
Incoming
reSoUr￿S
Resources
expended
Movement
in funds
Unrestricted funds
General fund
49,609
168,6441
119,0351
Restricted funds
Restricted
1,126,165
1759,4211
366,744
TOTAL FUNDS
1,175,774
828,0651
347,709
The Restricted fund reflects the overall balance on individual campaign donations re￿iVed after
expenditure incurred in the reporting period. 100'/o of these funds will be directly expended in
furtherance of SUPFX)rting individual people.
15. RELATED PARTY DISCLOSURES
During the year the Charity entered into the following transactions with related parties..
Beam Up Ltd
2023
2022
Recharge of management charge and overheads
54,950
60,018
Amounts owed at 31 May
9,901
Beam Up Ltd is a company controlled by Alex Stephany who is also a member of key management
personnel of the Charity.
16. FRC ETHICAL STANDARD- PROVISIONS AVAILABLE FOR SMALL ENTITIES
In common with many other businesses of our size and nature we use our auditors lo prepare and
submit returns to the lax authorities and assist with the preparation of the financial stalemenls.
17. RECONCILIATION OF NET {EXPENDITUREyINCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.5.23
31.5.22
Net lexpenditurellincome for the reporting period las per the
Statement of Financial Activities)
Adjustments for:
Increase in debtors
Decrease in creditors
1299,355)
347,709
{27,4811
20,741
114,1391
31,0821
Net cash Iusod in}Iprovided by operations
347.577)
302,488
Page19

The Beam Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 May 2023
18. ANALYSIS OF CHANGES IN NET FUNDS
Al 1.6.22
Cash flow
At 31.5.23
Net cash
Cash al bank and in hand
1,141.761
347.577
794,184
1141761
347 $77
794 184
Total
1141761
347 577
794 184
Page 20