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2025-05-31-accounts

REGISTERED COMPANY NUMBER: 10756127 (England and Wales) REGISTERED CHARITY NUMBER: 1181864

Report of the Trustees and

Financial Statements

for the Year Ended 31 May 2025

for

The Beam Foundation

Locke Williams Associates LLP Chartered Accountants Registered Auditors Studio 2 50-54 St Pauls Square Birmingham West Midlands B3 1QS

The Beam Foundation

Contents of the Financial Statements for the Year Ended 31 May 2025

Page
Report of the Trustees 1 to 6
Report of the Independent Auditors 7 to 10
Statement of Financial Activities 11
Balance Sheet 12 to 13
Cash Flow Statement 14
Notes to the Financial Statements 15 to 22

The Beam Foundation

Report of the Trustees for the Year Ended 31 May 2025

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 2025. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

During the period, the charity's objects were the relief of poverty, for the public benefit. This is including but 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 trustees think fit, including by:

Significant activities

The Charity achieves its objects in two main ways. Firstly, the Charity uses funds raised on its behalf by Beam Up Ltd, including from its crowdfunding website at beam.org, to 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.

Secondly, the Charity contracts Beam Up Ltd to deliver casework services to its beneficiaries at a cost significantly below the cost of directly employing caseworkers. The total Monthly Service Fees for the reporting period totalled £35,249. Beam Up Ltd is staffed by specialists in the type of casework relevant to our members as well as fundraising experts and is led by its CEO, Alex Stephany, from whom the Charity receives a quarterly service level update on the key metrics that are delegated to 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 at Thames Reach, Turning Point and NHS England.

Public benefit

The trustees have paid due regard to 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 2025

ACHIEVEMENTS AND PERFORMANCE

Fundraising

The Charity generated income of £2,013,290 for the year (54% higher than the previous year due to the partnership with Beam Up) generated from donations (including Gift Aid), and grants. Overall donations have fallen, however due to the forgiven loan from Beam Up Ltd, the income for 2025 is higher. Approximately 1,292 members of the public donated to the Charity in the year as well as 47 companies and 12 trusts and foundations.

Within the reporting period, 556 people launched crowdfunding campaigns on beam.org. Using an algorithm that allocates monthly donations to campaigns, Beam Up Ltd continued in this reporting period to ensure that every campaign was fully funded.

With respect to grants, a total of £152,014 was received during the year, with the following details: £75,000 from The Permira Foundation, £43,750 from Glasspool Charity Trust, £30,000 from The Rank Foundation, £1,550 from the Skipton Building Society Foundation and £1,714 from Rise Impact.

The Charity has also provided corporate giving through an innovative feature built by Beam Up Ltd called "gift cards", which allow individuals or businesses to make donations on behalf of others. This has been active during the financial year, however wound down along with the rest of donations during the year.

The Charity stopped marketing our corporate giving platform called Beam for Companies, allowing companies to sign up in minutes and support a certain number of people each month via monthly donations, to companies in February 2025. The Companies who had profiles kept them for the duration of the financial year.

Fund-raising standards

The Charity has not spent donor money during the reporting period on marketing that it views as costly to 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 demonstrating significant improvements from last year's reporting period, demonstrating the success and sustainability of the Charity's model)

Demographic background of beneficiaries

Of the total 963 beneficiaries referred within the reporting period:

Page 2

The Beam Foundation

Report of the Trustees for the Year Ended 31 May 2025

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 to 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 reporting period.

At the beginning of the period, the Charity had £191,263 of cash and cash equivalents. In the year to 31 May 2025, this means the net change in cash and cash equivalents of the Charity is £222,414 to the positive. The cash and cash equivalents as of 31 May 2025 is £413,677.

Going Concern

The Trustees have given careful consideration to the Charity's ability to continue as a going concern for a period of at least twelve months from the date these financial statements are approved.

As at 31 May 2025, the Charity held cash reserves of £413,677 with annual operating costs of approximately £20,000 (the Charity has no staff costs, property or lease costs and only minimal administrative costs). Based on current expenditure levels and less forecast grants to be made in early 2026 further to the post-termination agreement with Beam Up, these reserves provide sufficient resources to sustain operations for approximately ten years without additional income. The Charity has no significant liabilities or commitments that would materially impact this position.

The Trustees note that the Charity's principal fundraising relationship, which historically generated the majority of donated income, was terminated on 21 May 2025. Whilst this represents a material change in the Charity's operating environment, the strength of existing reserves and the low level of ongoing costs mean that the Charity remains able to meet its obligations and continue its activities for the foreseeable future. At present, the Trustees are not planning any material expansion of the Charity's operations, and fundraising activity has been limited to establishing basic donation infrastructure (see below 'Future Plans')

On this basis, the Trustees have concluded that there are no material uncertainties relating to events or conditions that may cast significant doubt on the Charity's ability to continue as a going concern. Accordingly, these financial statements have been prepared on a going concern basis.

Principal funding 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 to campaigns fairly.

In addition, donors can opt to fund specifically Beam Up Ltd operations (the "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 period (31 May 2025), the Charity had £177,503 in restricted funds and £226,975 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

During the year, the charity and its long-standing services supplier, Beam Up, mutually agreed to separate and terminate their services agreement, effective 21 May 2025. As a result, the charity halted its crowdfunding activity from 23 June 2025. Following this, the charity terminated the supplier-supported public subscription arrangements and reached out to existing donors to transition to the charity's new fundraising model via JustGiving. All donations that have been collected but not spent, have been collected with the intention that these funds will be granted in future under a clearly defined restricted grant arrangement.

The Trustees will continue reviewing its supplier relationships and potential fundraising methods to ensure the continued alignment of the charity's best interests. The Trustees will assess the feasibility, sustainability, and compliance implications of any new fundraising models while maintaining a prudent approach to financial stewardship. At present, the Trustees intend to continue operating within the existing fundraising framework (but have recently made simplifications to the website donation page) and do not anticipate any material expansion of the charity's operational scope in the foreseeable future.

Page 3

The Beam Foundation

Report of the Trustees for the Year Ended 31 May 2025

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 its Articles of Association, which were amended on 27 March 2023.

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 have decided to postpone the analysis and review to 2025 as currently the Trustees have all required skills the Board needs.

Organisational structure

As highlighted above, the Trustees have delegates the specific casework and deployment of Charity funds to Beam Up Ltd, but this is on close instruction and monitoring in a quarterly status update meeting with their CEO, Alex Stephany, focussed on key metrics (such as the number of people into work), as described above as well as reports on safeguarding and risk in relation to members and staff, new initiatives aligned to our Objects and also fundraising performance and financial reserves. The agreement with Beam Up Ltd has been terminated as of 21 May 2025, no permanent replacement has been found. 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 matters, financial performance, operations and social impact as described above as well as attending to any continuing to evolve the governance of the Charity to be proportionate and appropriate to its size and complexity.

Decisions are made in the quarterly Trustee meetings (video-conference) by a simple majority and in the instance of a split vote the Chair (Dean Nash) has a casting vote.

Induction and training of new trustees

New Trustees are trained on relevant governance matters and the nature of their duties (coordinated by our external advisors), the details and service levels of its 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, fundraising, finance and operations to 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 charity for the day-to-day support costs and overheads that it incurs on behalf of the charity at below market costs, as described above. Further details are given in the notes to these financial statements.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

10756127 (England and Wales)

Registered Charity number

1181864

Registered office

136 Farley Road London SE6 2AR

Page 4

The Beam Foundation

Report of the Trustees for the Year Ended 31 May 2025

Trustees

Ms A Appiah Ms S Jordan Mr D Nash Mr T Thomas Ms M Kenzhebaeva

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Auditors

Locke Williams Associates LLP Chartered Accountants Registered Auditors Studio 2 50-54 St Pauls Square Birmingham West Midlands B3 1QS

Advisers and bankers

The Charity's solicitors are Slaughter & May LLP of One Bunhill Row, London, EC1Y 8YY.

The Charity banks with NatWest through a Business Account and has a Wise plc Business Account for day to day operational expenses.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Beam Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with 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".

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state 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 statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure 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:

Page 5

The Beam Foundation

Report of the Trustees for the Year Ended 31 May 2025

AUDITORS

The auditors, Locke Williams Associates LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

and signed on its behalf by:

Mr D Nash - Trustee

Page 6

Report of the Independent Auditors to the Trustees of The Beam Foundation

Opinion

We have audited the financial statements of The Beam Foundation (the 'charitable company') for the year ended 31 May 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 18 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

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 work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to 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 statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we 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.

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 to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

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 law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Page 8

Report of the Independent Auditors to the Trustees of The Beam Foundation

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance 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 misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities are instances 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 determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, 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 to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to 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, to 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.

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 (FRS 102), the charity's governing document and UK tax legislation. We performed audit procedures to 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 accordance with the governing documents, inspecting correspondence and evaluating any advice received from external advisors where necessary.

We also addressed the risk of management override of internal controls, including testing journals and checking the authorisation 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 trustees that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 9

Report of the Independent Auditors to the Trustees of The Beam Foundation

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 state to the charitable company's trustees those matters we are required to state 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 charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Locke Williams Associates LLP Chartered Accountants Registered Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Studio 2 50-54 St Pauls Square Birmingham West Midlands B3 1QS

Date:

Page 10

The Beam Foundation

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 May 2025

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Other income
Total
EXPENDITURE ON
Charitable activities
4
Charitable activities
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 31.5.25
Unrestricted
Restricted
Total
fund
fund
funds
£
£
£
69,507
1,943,783
2,013,290
780
-
780
70,287
1,943,783
2,014,070
-
1,242,771
1,242,771
53,452
-
53,452
53,452
1,242,771
1,296,223
16,835
701,012
717,847
210,140
(523,509)
(313,369)
226,975
177,503
404,478		 31.5.24
Total
funds
£
1,300,259
1,971
1,302,230
2,411,664
46,823
2,458,487
(1,156,257)
842,888
(313,369)

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 11

The Beam Foundation (Registered number: 10756127)

Balance Sheet 31 May 2025

Notes
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
13
NET ASSETS
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 31.5.25
£
48,017
413,677
461,694
(57,216)
404,478
404,478
-
404,478
226,975
177,503
404,478		 31.5.24
£
130,289
191,263
321,552
(34,921)
286,631
286,631
(600,000)
(313,369)
210,140
(523,509)
(313,369)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The notes form part of these financial statements

Page 12

The Beam Foundation (Registered number: 10756127)

Balance Sheet - continued 31 May 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by:

Mr D Nash - Trustee

The notes form part of these financial statements

Page 13

The Beam Foundation

Cash Flow Statement for the Year Ended 31 May 2025

Notes
Cash flows from operating activities
Cash generated from operations
19
Net cash used in operating activities
Cash flows from financing activities
New loans in year
Net cash provided by financing activities
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		 31.5.25
£
(177,586)
(177,586)
400,000
400,000
222,414
191,263
413,677		 31.5.24
£
(1,202,921)
(1,202,921)
600,000
600,000
(602,921)
794,184
191,263

The notes form part of these financial statements

Page 14

The Beam Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

1. 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, C/O Wework, London, England, E2 8JF.

2. 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 (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)', 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 sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Cash donations are recognised on receipt. 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 to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

The Beam Foundation operates a 100% giving model, where the entirety 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 at the point of their donation to make an additional contribution, of an additional 5% to 50%, towards the support costs of the charity. Any amount of additional donation made in this way is treated as unrestricted income.

Income received from Gift Aid claims is accounted for as unrestricted income in its entirety, since at 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.

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 accounted 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. 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 directly support people to get new jobs and homes. Expenditure includes training and equipment for employment, accomodation and housing costs and childcare. All direct costs are paid out of donations made towards campaigns.

Page 15

The Beam Foundation

Notes to the Financial Statements - continued for the Year Ended 31 May 2025

2. ACCOUNTING POLICIES - continued

Allocation and apportionment of costs

Support costs are those essential costs that assist with the day-to-day work of the Beam Foundation, but do not directly represent campaign expenditure and include office costs, governance 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 exempt from liability to 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 stated 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 maturities 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 at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions 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 to the financial statements.

3. DONATIONS AND LEGACIES

Donations
Gift aid
Grants
Loan forgiven		 31.5.25
£
791,769
69,507
152,014
1,000,000
2,013,290		 31.5.24
£
877,176
81,833
341,250
-
1,300,259

On 12 December 2024, the loan facility of £1,000,000 was forgiven in full by the lender Beam Up Ltd. Further details are included in note 14.

Page 16

The Beam Foundation

Notes to the Financial Statements - continued for the Year Ended 31 May 2025

3. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

----- Start of picture text -----
|||| |---|---|---| |31.5.25|31.5.24| |£|£| |The Permira Foundation|75,000|75,000| |-| |Mail Force Charity|100,000| |-| |Coventry Building Society|45,000| |-| |National Lottery|65,000| |Glasspool Charity Trust|43,750|6,250| |Leo Lion Foundation|-|50,000| |-| |Skipton Building Society Foundation|1,550| |The Rank Foundation|30,000|-| |-| |Rise Impact|1,714| |152,014|341,250| |CHARITABLE ACTIVITIES COSTS| |Direct| |Costs (see| |note 5)| |£| |Charitable activities|1,242,771| |DIRECT COSTS OF CHARITABLE ACTIVITIES| |31.5.25|31.5.24| |£|£| |Courses|23,109|80,362| |Travel|8,083|33,902| |IT software and equipment|39,527|115,397| |-| |Equipment|13,991| |Childcare|7,027|28,379| |Accomodation|923,288|1,731,316| |Other expenditure|241,737|408,317| |1,242,771|2,411,664|

----- End of picture text -----

4. CHARITABLE ACTIVITIES COSTS

5. DIRECT COSTS OF CHARITABLE ACTIVITIES

6. SUPPORT COSTS

----- Start of picture text -----
||||| |---|---|---|---| |Governance| |Management|costs|Totals| |£|£|£| |Other resources expended|36,224|17,228|53,452|

----- End of picture text -----

Page 17

The Beam Foundation

Notes to the Financial Statements - continued for the Year Ended 31 May 2025

6. SUPPORT COSTS - continued

Support costs, included in the above, are as follows:

31.5.25
Other
resources
expended
£
Sundries
20
Management overhead
35,249
Bank fees
178
Software costs
777
Auditors' remuneration
3,960
Legal fees
13,268
53,452
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.5.25
£
Auditors' remuneration
3,960		 31.5.24
Total
activities
£
1,408
40,484
252
1,079
3,600
-
46,823
31.5.24
£
3,600

7. NET INCOME/(EXPENDITURE)

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 May 2025 nor for the year ended 31 May 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 May 2025 nor for the year ended 31 May 2024.

9. STAFF COSTS

There were no employees during the year.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Other income
Total
EXPENDITURE ON
Charitable activities
Charitable activities
Other		 Unrestricted
fund
£
68,362
1,971
70,333
-
46,823		 Restricted
fund
£
1,231,897
-
1,231,897
2,411,664
-		 Total
funds
£
1,300,259
1,971
1,302,230
2,411,664
46,823

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The Beam Foundation

Notes to the Financial Statements - continued for the Year Ended 31 May 2025

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
fund
£
£
Total
46,823
2,411,664
NET INCOME/(EXPENDITURE)
23,510
(1,179,767)
RECONCILIATION OF FUNDS
Total funds brought forward
186,630
656,258
TOTAL FUNDS CARRIED FORWARD
210,140
(523,509)
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.25
£
Trade debtors
1,037
Other debtors
41,263
Prepayments and accrued income
5,717
48,017
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.25
£
Trade creditors
48,261
Other creditors
4,995
Accruals and deferred income
3,960
57,216
13.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.25
£
Other loans (see note 14)
-
14.
LOANS
An analysis of the maturity of loans is given below:
31.5.25
£
Amounts falling between one and two years:
Other loans - 1-2 years
-		 Total
funds
£
2,458,487
(1,156,257)
842,888
(313,369)
31.5.24
£
1,037
126,529
2,723
130,289
31.5.24
£
31,321
-
3,600
34,921
31.5.24
£
600,000
31.5.24
£
600,000

The Beam Foundation received a loan of £600,000 during the year ended 31 May 2024, and a further £400,000 in the year ended 31 May 2025, out of a full loan facility of £1,000,000, from Beam Up Ltd. The loan was interest free and unsecured.

On 12 December 2024, the loan facility of £1,000,000 was forgiven in full by the lender Beam Up Ltd.

Page 19

The Beam Foundation

Notes to the Financial Statements - continued for the Year Ended 31 May 2025

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
Restricted
fund
fund
£
£
Current assets
284,191
177,503
Current liabilities
(57,216)
-
Long term liabilities
-
-
226,975
177,503
16.
MOVEMENT IN FUNDS
At 1.6.24
£
Unrestricted funds
General fund
210,140
Restricted funds
Restricted
(523,509)
TOTAL FUNDS
(313,369)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
70,287
Restricted funds
Restricted
1,943,783
TOTAL FUNDS
2,014,070
Comparatives for movement in funds
At 1.6.23
£
Unrestricted funds
General fund
186,630
Restricted funds
Restricted
656,258
TOTAL FUNDS
842,888		 31.5.25
Total
funds
£
461,694
(57,216)
-
404,478
Net
movement
in funds
£
16,835
701,012
717,847
Resources
expended
£
(53,452)
(1,242,771)
(1,296,223)
Net
movement
in funds
£
23,510
(1,179,767)
(1,156,257)		 31.5.24
Total
funds
£
321,552
(34,921)
(600,000)
(313,369)
At
31.5.25
£
226,975
177,503
404,478
Movement
in funds
£
16,835
701,012
717,847
At
31.5.24
£
210,140
(523,509)
(313,369)

Page 20

The Beam Foundation

Notes to the Financial Statements - continued for the Year Ended 31 May 2025

16. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 Incoming
resources
£
70,333
1,231,897
1,302,230		 Resources
expended
£
(46,823)
(2,411,664)
(2,458,487)		 Movement
in funds
£
23,510
(1,179,767)
(1,156,257)

The Restricted fund reflects the overall balance on individual campaign donations received after expenditure incurred in the reporting period. 100% of these funds will be directly expended in furtherance of supporting individual people.

17. RELATED PARTY DISCLOSURES

During the year the Charity entered into the following transactions with the related parties:

Recharge of management charge and overheads
Loan forgiven
Amounts owed to Beam Up Ltd at 31 May
Amounts owed by Beam Up Ltd at 31 May		 Beam Up Ltd
2025
2024
£
£
12,357
37,841
1,000,000
-
48,284
31,391
-
55,814

Beam Up Ltd is a company controlled by Alex Stephany.

18. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

Page 21

The Beam Foundation

Notes to the Financial Statements - continued for the Year Ended 31 May 2025

19. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Non-cash transaction : loan forgiven
Decrease/(increase) in debtors
Increase in creditors
Net cash used in operations
ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS
At 1.6.24
£
Net cash
Cash at bank and in hand
191,263
191,263
Debt
Debts falling due after 1 year
(600,000)
(600,000)
Total
(408,737)		 31.5.25
£
717,847
(1,000,000)
82,272
22,295
(177,586)
Cash flow
£
222,414
222,414
600,000
600,000
822,414		 31.5.24
£
(1,156,257)
-
(72,020)
25,356
(1,202,921)
At 31.5.25
£
413,677
413,677
-
-
413,677

20. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

Page 22