REGISTERED Co￿1PANy NL'IIBER: CE019.370 (England and 14'4ltsl REGISTERED CIIARITI, .NLTIIBER: 11860$3 REPORT OF TIIE TRLSTEES AND UNAUDITED FINANCIAL STATLIILNTS FOR TIIE I'EAR EIYDF.D 31 IIARCH 2024 FOR BRIC.HTER HOR17.ONS A CO.IIPANI' I.IIIITF.D BI. GI'..IIL4.NTEE H & E Joh1L￿n Chanered Accounwits Sandall House ?30 High Sireei Herne Bay Kenl cr6 SAX BRICHTER HORIZO)S CO.N'TENTS OF TFIE F1Tr4ANCIAL sTATE￿IENTs lor the l'ear Ended 31 .Ilarch 21124 P*ge Reference Ind Admini5tratii'e Details Report from the Chair Report of the Trusie¢s Ind¢pendeDI Ex*mlner'5 Report 12 Staiement of FIRancial Ac¢l%'liles 13 Balance Sh¢¢1 14 10 15 C8sh Flow. Statement 16 Notes to the Cash FIOM. Siatemeni Notes io iho Fln•nr5al Stitemenis 18 ￿ 24 De¢a51ed Siatemeni of Fin#neial A¢iii'lii 25 10 26 BRIGHTER HORIZONS REFERENCE AND AD￿lI}ISTRATI},E DETAILS for Ihe I't#r Ended 31 .Ilarch 2024 TRUSTEES O Ajairy R Chakraboty H Ghalegolabi KLee M Mizen B O'Keeffe P A Thorn (resigned 31.8.23) REC•JSI'ERED OFFICE Domitharn Community Centre • Shroffold Road Dommham Broml¢y BRI SPE REGISTERED COIIPANI, NLTfvIBF.R CE019370 (England and Wale.%l RF.C.IS'I'Tr'RED CIIARITY NIIIIBLR 1186053 INDEPENDENT EXAN11￿ER H & E John%on C'hartcred A¢Louniani SarKl811 Hou*e 230 Hibph Street Il¢me Bay Keni CT6 SAX SOI.ICITORS Bate5 Well. 10 Queen Sireet Place London EC4R IBE CIIIEF EXECLTTJI'E OFFICER Mr Dai'id King Page I BRIGHTER HOR17A)N'S RLPORT FRO.%1 THL CHAIR for ihe l'ear Ended 31 ￿lIrth 2024 My fellow Trustee* and l are plea%ed io pre%eni our annual and siraiegic repon for the year April ?0?3 - March 2024. The Tru51ees are ple&sed to report thai the number of adults are supFxTrning fd¢h day has increased by 12 % 10 around 42 people. We are al.%0 pleased io ha¥'e reso1￿.ed some long ierrn concerns oi'er Ihe financial i'iabiliiy of Ihe Irdli%POrt service provided by the local auihority for around half of our adulis. In Seplen]ber. Brighier HorizotLS took over this sen'ice resultingy in a more flexible seTh'i¢e for our families. fewer support seTh'ices ini'olked in iheir care and greal¢r value for inoney. As a result of w'orking in partnership io delii'er ihLS change. Brighiei Horizons also enjtsy% a clo%er relaiion5hip %'iih Ihe London Borough of LewTr%ham. In September. the Charity acquired Igniiion Bre￿.try. a Social ¢nteEpri%e set up to provide emplo)ryneni opporn]niiies for neuTodii'er¥enl adul1% and people with leaming di5abiliiies. The Tmsiees are enorniously grateful 10 Nick O'shea. Tery MLGuine55 and Will Fvans. the outgoing Direciors. for ihe faith and irusi Ihey haK'e placed in Brighier Horizon% iii giltin¥ the organi%aiion lo us. li will operaie as a tyadin¥ subsidiary of Ihe Charity. allowing us 10 recruil. train and employ adult% H,ho need addilional suppon 10 enier the laknur markei. Thi% opportunity ha% broughi forward our lon¥er ierni plan.% lo develop employabilily progrJmme.% for our b¢neficiarie.%. in line w'iih boih naiional and local need. OnLe again. ¢his year ha.% 4ten the Chariiy record numbets of %ervi¢e and sustain (he highe41 lurnover in i1% hi%tory. Our %¢aft- continue lo grow ￿'](h 23 people nou. on our tearn and we MTrll 4OOll k welconiin¥ a dedicated HR resource as the Charity po%iiiorns ii%eif lo open an additional centre in Ihe coming y¢ars. The Trn%lees are plea¥ed 10 report thai the surplu% 4u%iaEned Ihis vear will enable planning for thi$ 10 be&Jin in eame%l, allowing u% 10 inve41 in acquiring pr¢mi%e% besi lulled io the need4 of Ihe people we %uppon. The %ingylc bIg￿>e*l factor atTeciing ihe quality of our *rvice and the lives of ihe people we support are our staff and we are hun?bled 10 have suLh an exceptional Irdm who noi only b¥0 aknie and beyond ei'ery day bui al￿ stt ￿'haI our aduli are capable of achiei'ing. And w'hile we are panicularly proud of achicK'in¥ a IOO•/tr >thif reienlion raie ihii year. we're eien more proud of Ihe adults w'ho we hai'e Ihe pri%'il¢ge io ser%'e ei'ery day. Whether il's perfomiin&? on ¥iage for ihe firni lime. learning hom. io %elf-regulaie w.hen Mr fttl 4ad. workinby Lloiely with ¥ key work'er io monitor daily exerci%e and weibvhi lo%%. leamin8 ho￿, 10 iravel independ¢nily. wiru)jllbr our Chrilima card conipeiilion, abandonin&J a walking frJm¢ beLau* il Slo￿ you do￿1 on ¥pon% day, or leaniinb how, 10 edit a film. all ol. our adulii have Iheir %lory 10 iell. Like Sophie for example. Our ￿la] aciion Mrek Ihi% year la￿. u% rai%e over £I.000 of l(xxl for tk>wmhani Aid and help oul ai Iheir food bank for a re￿, week%. Sophi¢ found iuch purpo4e and enjoyTh¢ni from Ihe projeci thai %he ha4 no4. ¥on¢ on 10 i'olunieer for Ihem ei'ery wttk. buildinbj up the couragrc 10 ¢i'enrually do %0 WiTlioul Ihe support o(our siaff. We Couldn't be more proud ofher. Puiiinb people fir4t 14 ai Ihe heart of e%'¢r)qhinbp ihe Charity doe%. And ￿. on behalf of the Trustees. l exiend my %ineere thank% lo all th¢ Chariiy'% .4tafT for Iheir Iiard u'ork. %uppon and lle%ibilily ihroughoui Ihe year. ThL TTu%iee% are allo deeply ¥Taieful 10 Ihe TnJsittS and of tk)uTtham Communiiy Cenire IW¢%ley Ha1141. the s￿[1- ai I￿￿ni110n Biew'ery, our iiew ¥OTporaie %pon4or Cl¢ornnce Captial and all Ihe pannern who help to delii'er %uch a iarled and cxciiing programme ol'aclivilie.4. M(Trsi importani we thank ihe Smrents and of the adults we for their enduring ¢nJ%l Check out our w¢bsiie, launched thi4 year. 10 find out more. M4w.bri%hier-lJorizoni.org Kieran L¢e Cliair of TN%iee¥ Pa¥e 2 BIUGHTER HORI£ONS REPORT OF THE TRLSTEES for the l'ear Ended 31 Nl#reh 2024 The trustees who are also diTeCtors of the chariiy for the purpose£ of the companie￿ Act 2006, preseni ¢heir retjort wiih the financial siaiemeni% of the charity for Ihe year eThJed 31 March ?0?4. The Iru%iees hai'e adopted the prokisions of Accounting and Rep(Ining by Chariiie%." Sthiemeni of Recommended Prn¢tic¢ applicable to charitie5 preparing their acc£)unis in accordance ￿lih the Financhal Reponing Stsndard applicable in ihe UK and Republic of Ireland IFRS 1021 letTecti￿'e l January ?0191. Page 3 BRIGHTER HORIZO.NS REPORT OF THE TRL,STEES for lh¢ lear Endtd 31 llarch 2024 OBJECTII'ES AND,ICTII'ITIES Objectii'es and #¢tli'ities Brighter Hori£ons main objective. as ouilined iii 115 Consiiwtion. 14 io provide reltef for indii'iduals in need becau¥t of disability. This relief exiends lo ihe families. dependanis and carer% of dtsabled people and includes Ibui noi exhau5tivelyl Ihe proK'ibion of¢are. Ireatmeni. educa110￿ and irdining. As such. 11 plays a key rol¢ in aduli locial cafe provision within the London Borough of Lew'isham. To achieve lis objeciii'e. Bnghier Horizons operaies a day *trvice for adults learnin¥ disabilili¢s and runs a social enterprise ivhich otTers emplo>Theni &. Iraining. The Chariry-. adopts a person-centred approach to help 115 sen'ice u%£rs develop healihy relaiion%hips. independence. confidence. and life.4kills deli¥'ers activities which are d￿Jgned io improv¢ Ph￿1¢81 and menial w¢llbeing and enable independence byild% social tnclusion Hnd ¢nable community Itllegyaiton iljrough the dail}, proi'i%ion of opportunrlie% lo a¢c¢sg the local communiiy run% a pareni-carer fonjm aiming to pr()i'id¢ opw)nuniiies for mutual care and suppon as well as %ignpo¥iing io local eTh'ice% and personal dei'elopment opponuniiie% mea.%ure% succe%5 through Ihe lrncking and recogniiion of persoJ)al del.e10pn￿1( &)oal4, iailored io each elieni and Ihroubh a sei of impact and %ati_%fa¢iion nthirices relaiin% 10 each.￿rVice users. perwnal circumsian¢¢¥. The Charity'5 %hon-ienn objeciiie% are 10 4tcure lon¥-iern] pren11￿4 for the curreni day *rvi¢¢. io develop it% owl path￿'ay5 into eniployrneni for neurodii'ery¢ni adul1% and people wilh learninb di58bililie%. to coniinue lo provide hiuh-qualiiy servi¢es and io dei'elop a robusi fundraE%in¥ sirat¢¥y to underpin ihe*e plaiL¥. 11% long-temi objeLlive is 10 inLrea.4e ihe level of proi'i%ion offered acro%%.%ouiheas1 L.ondon Ihrou&h Ihe esiabli%hingy of a.second day ¢enire. The curreni day .4en'ice in Dowryjham operaies M'iih three manabvets. 13 %en'ice delivery %faff operaitnbp a 1.'4.I raiio laliliou¥h thi4 difter4 by aciivily. in order lo meei the ne¢d% of *ervice u.*r%l and 3 iuppon ststT. Addiiioiially. the ChL2riiy ha% 4 bank sthfl. who pro¥'ide addiiional and col'er a* required. 78 /* of ihe cliarily'i %pendinbp 1% direLIIy 011 il% 4ervice% with Ihe remainin¥ ?!&/0 speni on %thPFK)rt ¢0%15 ￿kn1¢h rnclud¢ %taifin&. the Chariiy's infra%lruciure co%is and &?overnanL¢. A% a predominanily.4¢ryice led Chariiy. o%'er fl￿￿117 ofexpendiiure 1% on %iaifinb. AcLe%.% lo Ihe ChariiYs.sen'ice% i% via %elf-re(erral or by a S￿la] MDrker or oiher appropri8iely qualified healih and locial Lare pri)le.%4tonal. The Chariiy proi'idls *ern'i¢e uier% with a flexible otrer. dtsisned lo n￿¢1 Ih¢iri aiid Iheir faiiiilie%' rlianbpirigj need%. .Sen'i¥e u.%er.% can Lhange their aii¢ndance and their weekly lirnetsble a% Ihey require. and ihe C'harity is able lo proi'ide l-• l iuppon for client4 whcre fundin&y 1% a¥'ailable. oirerin& lon￿ Icmi plaLemenl% wiihin Ihe %o¢ial car¢.%ecior. the Charily Opera1￿ a weekly provision ofaciiviiies a¢n)%% three Lurri¥ulum .%irand%.' physical and emoiional wellbeing. skill% for life and Ihe an%. Service u%cr%. lo¥eih¢r w'ith their alloiaied kev worker gnd oiher healih and ￿]31 care profe%%ional.%. ¢on%ifu¢i a per4onali%ed limetable of activilie%. carelully iailored 10 Ihcir P¢Tional prefert￿e5. need% and de%'elopmeni tsrgei%. Tlie %pnn% and wellbcinb programme ainL4 lo pu%h %eTr'ac¢ u.ser% phy%icolly and help build Lonfidence by ok'ercomin ell'.impo%¢.d limilaiiork¥. Addiiiondlly. il %uppon% wilh wet&>ht 10%5. menthl healih and proi'ides phy%ioiherapy for rnU%Lular-%kelcial and oiher iondiiion%. The Chariiy worK-% closely with local pmi"ider4 10 off¢r 4p¢Liali%l a¢lii'ilie% and by iiiakin¥ public %ponin&y appearances. s¢Th'ice U.￿rI alx) challen&pe the %ligma Ihai exi%1% around people with leaniinb di.4abilitie% lakin8 pan in .4port. The programme include% 17 aciii'itie.% %uch as manial ans. ¢lieerleadin&. Iranipulininb. cyclin8..%wininiin¥. yog?a. &Dolf and gym aiiendanc¢. The Skill.4 tor Life prog?ramme focuies on enhancin¥ and developing funciional skrlls such as handling nioney. preparing food. growinB N'egFeiables. eaiin&T OUI. u%ing LOmPUler% and dei'elopingi communicaiion. Wilh 13 differeni aciii'ilte% each week, Ihe proBramme build.% independencc. promoies good de¢ision making and dei'elop.% confJdenc¢ in public.4eiiin&¥.s. SeTht¢e u.%er% manakje Ihejr owi alloimeni and ¢ontribule lo ihc daily njming of ihe Day Centre. Addiiionally. the}. have the oppi)riuniiy lo bro lhopping and Io ￿talISe re¥ularly. The chan.ly alw operaie% an annual calendar tbf sea.￿onal event.4 which include day trip%. carol %ingin8 in ihe I￿al community. theatrical perfornian¢e5 and Ihemed pafties. The An.% programme inLludes various fornjs of anisli¢ seif-expres%ion. w.hi¢h are encouragped as a means of communication. thernpy and 10 improi'e ftiie rnolor %knlls. The seven aciiviiie5 include vartous fomis of dance. steel drnms. drama. music reeording. singing. an% and ¢rdfLS and more. The Charity mainiain5 and operdie% iwo 17-*ai acce55ible minibuse5 which enable Ihe cosi effective and safe delivery of ils communiiy-ba5ed provision. The Charity a150 Uses ihese. along with Son￿ coniracied provision, 10 proi'ide daily Iranspon lo and from aci1￿.111e.5. for 5m.ice user% are otherwise unable 10 trai'el. Since September 20?3, the Charity ha% also. through its tradin8 subsidiary. ivn able io provide employmeni and training for neurodivergeni adul1% and people Mith learning dI￿bIlItieS. The Chariiy ￿¥)rkS closely local educaiion providers to develop sktlls in cu%li>mer %er%'i¢e. brew￿¥. bar managemenr and more. Page 4 BRIGHTER HORIZONS REPORT OF THE TRLSTEES for the lear Ended 31 %l*rch 2024 OBJECTIVES AND ACTIVITIES Public benefii As a registered chariiy. the TnLsiees of Brighier Horizons give Close regard io their obligations io report the public benefii of ils charitable PLkrpo%es a5 defined b), Ihe Chan'iies Aci 701 l and Charities (Accounts and Report41 Re&Trulaiions 2008. The Tn￿lee5 also consider ihai Ihey hai'e e.¥er¢ised du¢ regard to ihe Charity Commiksion's Public Benefii GuEdance when exer¢ising Iheir power% and dull￿. as outlined in the Chariws governing document. Page 5 BRIGHTER HORIZOPIS REPORT OF THE TRL.STEES for ihe l ear Ended 31 llarch 21124 STRATEGIC REPORT -4¢hiei'ement and performance The Chariiy %upponed a ioial of 69 people during ihe year. ending the year with 63 people regularly receil'ing care and uppon. Ttle numbei of seTh'ice users remained consistent ai year-end. Ihough the ai'eraBe nuniber of hour% of care prol'ided per ￿'eCk increased by l ?•/ty. The Charity, Mvrking wilh parenits and earer%. M*5 abl¢ io secure additional fundinij 10 deliN'er more support hours for some il's exisitn¥ 5en.ice user%. In iotal the Charity proi'ided ol'er 5A.394 indii'idual hours of care and %upport including 1.800 houT5 of 1-2-1 %upwJll. Each hour provide.4 an oppornjnity 10 liN'e life ￿lTh opponuniiies. io learn skill.s, dei'elop relationships and io experience belonging. For par¢ni4 & carers, each hour proi'ides Ihem with an opponut)iiy 10 H'ork or rnaintain a houselKTrld. care for other relatives or io take sollie respiie from th¢ 24-7 demands of being an Unpaid car¢r. In Sepiember. the Charity began proi'iding lis irdnsport sm'ice (or 35 of its sen'ice user%. having iaken Ihi¥ over Irom ihe London Borough ol. L¢￿'1$han1. In so doin¥. the Chariiy 3bl¢ 10 %ave ihe local auihority around £100.000 lapprox. 300/01 ol. its prei'ious Cosls a￿] uiilise lis minibus¢%. The transport servi¢e ha% enabled the Chariiy 10 proi'ide a door-to-door ￿ra￿aloUnd ser%'i¢e for 114 servlce user% making it% day 5eTh'ice more flexible and easier for people 10 u￿. li has al%0 enabled the Tru4iee4 10 achieie one of Ihe Chariigs shon tern) objectives and begin io di￿.Cr￿]fy rl% funding. In (he period since Sepiember. Ihe Charity pro￿lded 6.468 Èndii'idugl Journeys. The Chariiy delivered oi'er 1200 hours of swins provision lup by 330/LTr on the previous year. a¥ li ils progrnninie on fiineK4 and phy%ical ￿elIb¢In¥. The cheerleading ¥roup Bribhi %tsr7. perforrned lo¢ally. and il% ei'er-growinb fooibHII ieam won the South l.OTkdon Special League. The Chariiy operaie% a heai'ily conimuniiy-orienled prograinn)e and illi year. il ha% bccn able 10 incr¢a%e ill oner 10 37 a¢ii1'iiie% each wr¢k. Baking, dmmming. life %kill% and h()u.4elithld hopping have all been added io lis portfolio. The Charity ¥onlinue% io develop a new impaci frdmework 10 measure sueceks in line wilh ils aim% and objective% and data froiji thi% 1% noi yei a%'ailabl¢. io li currently numerical and qualiiaii%'¢ indicaior% (Dr The Trustee% arc pILased 10 report a 90 /0 reienii<)n rate lan in¢rea* of 4. rrom ihe prei'iou% yearl with 4¢n'ice n)ainly l¢ai'in& due io reloLaiion oul ol- Ihe area or an Initial mismailh ol Iheir need% ￿'Ith Ihe Charity'% %￿CIall￿m. Tlie ai'erage aiiindanLe rate for Ihe yekr up 4li&hily lo 82fj/￿ and boih mea4ures are Inte￿re1ed a% *rvi¢e and familie% ixperiei)Lll)b high levels of seTr'i¥e 4aii%laciion. An annual kn'ice.4aiisfa¢iion refvie￿. 1% in plac¢ wilh Ihe fir%1 %el of daia due in %priii& 2025. The Charli￿4 suppl¢meniary curriculum ¢oniinues 10 expand wilh a celebraiion ofdiverse culNre% and relibyioni, noiably a hugpely 4ucces4ful eveni 10 mark. Black HiAiOry Monih. The noM' annual %howca4e tLiok place ai a propcr perforn)ancc venue for th¢ fJT%I lime. offerinbr a full ¢xperienLe of bein¥ on liage as wrll all0￿,In& ilie Charity lo tc%i nui reloiaiin 11% ¥DIÈTC %en'iLe to another I￿allon. The Charity al%0 iupported ￿rVIce 10 fundrai%e and i'olunieer lor a lo¢al l()od bank, providing over £ 1.000 of donations and 8 %'oluniem. Bein&Tr re%poniible Cilizen4 in¢lude% en&pa¥ingT Ii'iih %ocial allion and in .40 doÈng, our *ervice u%ers have demon%iraied that Ihey are not pa%41N'e recipieni% or rinancial ¥uppon bui Ihein%¢li'es aBent% in bringingj about posiiii'e chan￿e thithin ihe live% of othets. One fieTh'i¢e u*r found 4uch nieaniiig iii volunieering ai Ihe food bank thai Ih¢y weni on lo do.4> peM￿nen1IY and have adju%ied iheir of ihe Chari1￿￿ 4en.ice lo enable Ihi%. The Charity Loniinues io vÈew all of Ihe acttvitte% ii provides as pan of IL% day 5er¥'ic¢ as vehicle% Cor d¢velopin& comniunÈcation %kills. enhancin8 indyndence. a¢hiei'ing phyAical fitne55. providing .￿￿la]i￿aliOn OPPOMunilies. building life %kills and en¥a¥in8 in posiiive risk iakin8. The 'l"TU.%iees considei the gr0￿h in the leam and high lel'el of 51aff retenlÈon I IOUQ/•} to be indtcaiive of ihe qualiiy of provision and orbpanisaiional culiure. The Lhariiy ￿cell.¢d 3 fornwl ¢omplaini% during ihe year, appertaining 10 ¢han¥e% in the pay siruciure and failure lo obseTh'e operaiional procedure%. Lexwn4 Hrre dra￿￿} from all. ￿'hiCh were all saiisfaciorily resolved. Page BRIGHTER HORIZ0Tr4S REPORT OF THE TRLSTEF.S for ihe l'ear Ended 31 .Ilarch 2024 The Cl￿niY continues io enjoy fai'ourdble relaiion%hip% wryih ihe local authority. helped significanily by the acquisiiion of Igniiion 13rewery as a wholly oWry￿d irAdinB subs.idiary of the Charity. A prii'aie limiied companv ￿￿(hOUl %hare Lapitsl. the company and its asse1% were. following a public tender. transferred 10 Brighter Horizons owryJer%hip in Seplember 20?3. Now as a irading_subsidiary of Brighier Horizons. the ￿la1 enieryri* offers emploJTlleni and Irdining 10 neurodii'ergenl adults and people w'ith learning di¥abiliiies. The acquisiiion is Èn IiD¢ Ii'iih ihe TTuslees objeciives io diversify IL% inconje and dei'eltsp en]ploJTreni paihways for its beneficiaries. by prokiding opptrrtuni(ies io do so M4ihin its bu%ine%s %iniciure. The compan). has- an excelleni reputaiion ￿lI1¢h the Trustee% aim lo niainLqin and use lo draw on funding for employability programn￿￿. Ignition Bre￿try has. since being 0￿￿ed by Brighter Horizons enobled 768 hour% of emploJThent and on-lhe-job training io w'en beneficiaries. The TnLsiees noie Ihai this 1% also in line iviih the London Borougli of Leu'i%ham'¥ Learning Disabililies Implementhiion Plan. highlighiing the ali¥nmeni between ihe Chariiy'% objectives and local need. The Chariiy was pleased 10 launch il% firsi websiie durin8 the year and has seen an increase in self-ref¢rrals as a result which, iogcther willi the addillonal income from the Charitys ne￿. iran%wn %m'ice and trading %ub%idiary PO*Ltion mean.% that the Twsiee% coll%ider th¢ PO%ilioning of the Chariry for the future io be a %tsndoul ¥ucces4 ihi% year. They do howeier note thai. with the onboardin¥ of tw'o subslaniial new proj¢eis. the objeciii'e io deielop and in¥'esl a long ien fvndr8i.%ing %rraiebY ha% noi yel been ￿￿1. Page 7 BRIGHTER HORJZO.%S REPORT OF THE TRUSTEES for the l'ear Ended 31 ll•rch 2024 STRATEGIC REPORT Fiii#nci#l revie The Chariiy's income for the yiar £787.736 17073.. £fi14.108). agatnst expendiwre of £717.555 120?3.. £573,259), leading io a %urplu% of £70.181. This reflects an ?8Q/o increase in income againsi a 25•/o increase in expendiiure Compared io the lasi financial p¢riod. The Charii}' has n￿de a *u￿1￿￿ for ihe third Co￿￿e¢U1]l.e year. placingy li in the stronge4t financial posiiion ¥ince its inception in 2016. Tlie Ttu%iee5 maintsin a financial res¢n'es polity of 3 4 mnths of operdiing costs additional savings made to enable the delii'ery of their lonb lerni plan%. With a mininium leiel of £?$3,000 and a maximum lek'el of£31 ?,000 ih¢ balance ¢orried fonvard refl¢ci% Ihai thi5 has been achiei'ed. The ChariiJ'¥ unres¢ricied re%erves ai the end of the rinancial period loial £314,10 l. Of this. £1 ?.44fi Can only be realtsed ihrough the dispo%al of iangible fix¢d a$4et%. The Chariiy al%0 hold8 £3,9?O of re%iriCted in¢ome. Consequenily. the TTusiee5 consider The Chariry a Xoing concem. The Trusiee% con.%ider coniinu¢d ini'e%lrneni in ihe Chariiy'% unre.¥trict¢d re%mes 10 be the imn]ediaie finan¢ial priority in order 10 en%ur¢ ihai su￿1¢1¢nI operaiing co%L4 can be rethined as ihe Charity coniinue4 to grow.. In 8ddiiion lo Ihe procurement ot. a Ihird minibu% and the addition of new, %uppon siaifduting the next financial period. the I"rusiee.% al im 10 lake oui Iwo new renial lea¥¢% ￿'lIhirt the n¢xi •4 . 36 monih% and con%ider thai %ubstsniial reserves are required io faLililate both the lea%e% and Ihe re%uliin¥ mol'e of ih¢ ChariiY.4.*Trices io new premi%e%. Iiietsme 1% mainly generaied ihrou¥h daily ¢harge% for 011 of ihe Charli￿* 4tr%'i¢es ￿](h the majoriiy re%uliinbi from direct payments adn?ini%iered direcily by the London Boroub>h of Lew'i%ham. Other pa￿lent% are receii'ed from the London Ilorou¥hs of (ifL*nwich. Sou1h￿rk and Bromley. A.4mall number of 4ervice adminiiier Ihcir owi direcl pa￿llent5 or Lover %eTh'iLe charg¢% ihem*lN'th. The Tru%tees reiaiii and ¢xerLi%e their rL'%kK)Th4kbiliiy io Ihe major ri%k% 10 which the Charily IN expo*d. in pariiLular Iho%e relaied 10 il.% finan¢i% and operaiion%. and are Aaiisfied Ihai ¥y%iem% ar¢ in place io n?iiibiaie expolure lo niaJ(Ir ri%ki. Additio1￿1]y, the I'ru%iee.% retain and exerci￿ Iheir re%pDn%ibiliiy for eniuring Ihai th¢ C harily ha% in plaLI an appn)priaie 4y%l¢m ofconirolA, financial or oihernq*. 10 provide re¥sonable ak4urance that the Chariiy 14 ope¥aiinB efleLiively and in line M'ith Chariiy Commik%ion ¥uideline%. To Ihi% end, an annual planning and budgeiing proce%% 1% in place and th¢ TTu%ltt% hal'e dei'elopcd and inipleni¢nied a ri.%k nianabpen)eni %lraiegy. I'hts ¥irdieby idenltfie% %ibTnifiiani ri%ks. Ihe likelih(Kxl of occurrence and poieniial impaLI, alknow'ledbves Curreni miiibiaiion% a￿1 ouiline¥ any aciion4 ne¢e%iary lo mgna&pe the ri%k further. The %lrale&y covers key area.4 suih a.4 ￿fegUardIng. h¢alih aThJ safely. daia proie¢tion a5 well as 1%sues relatin¥ to goveman¢e, rinancial 10%5 and Lomplian¢e. The Tru%leei con.%ider that Ihe major ri%ks io th¢ Charity are follo￿￿. l. The 4ocio-cconomic landscape alTeclin&y social carc and Ihe budgeiar! pre%%ure% fa¢in¥ the Charit￿￿ priii)ary funder whtLh could lead 10 a reduLiion in tunding. To thi% end. Ihe TrU.Ste￿ noie thai rhe Charity ha% diwei¥ified inio proi'iding tran%port prnvi4ion foT which i¥ receiTr'e% addilional fvnding. 19°/ts of ihe Chariiy'% annual income 1% now. drawi fron) Ihi ern'ice and Ihe TrUsIe￿ conlinue io co￿￿1der Ihe illir(wJuciion ol other new services in order to ￿rther income 2. 'fhe Lon.4lrdinls a&%￿lated w'iih Downham Cornmuniiy Cenire (Wesley Ilall%l and Ihe limi1% thai thi% place% on oppottunilies for gr0￿h and (he quality of ¢are proi'ided. The Tru4iee.s are mindfvl ihai expanding the Chariiy's ir])paci Ihrottbh increased a¢Lepian¢e of referrals redu¢e% Ihe impa¢1 of financial loss. bui Ihis poleniial 1% now limiied due 10 capdLily con%iiainis and therefore fiEnher operdlional venues are required. To ensuie a 4usiainable fumre. the Tru%iee% %eek lo e%iabli.%h a second centre in order lo proi'ide more suppon and especially M'here ihis 15 dra￿￿ from new income source%. 3. The ending of the l¢a%e of prernises from the London Borough of Lem'isham to DoMTrham Comniuniiy Centre (Wesley Halls) planned for 20?8. or loss of a¢¢e&s to the building due 10 complicaiions ￿'1th the .siruclurdl integrity. As %uch the Tru.siees are developing coniin¥eT]cy plans accordingly. ￿thIch include plans to CO*lo¢ate a service alongside the Charity's newly acquired trdding subsidiary. 4. The poteniial for a 5ignifi¢ant data breach due to the paper based care planning sistems eurrently employed. As such Ihe Tru%lees are making preparations to move to a digital care planning appr￿ch and review ihe Chariws cfv security aTrangements as a re.￿ult. Page 8 BRIGHTER HORtzoNs REPORT OF THE TRLS'I'EES fDr the I'egr Ended 31 ￿larCh 2024 STIL4TEGIC REPORT 5. The i'iabililS' of il% trading sub%idiary. 18nilion Brewery. AEthough income has de¢lin¢d due 10 the curreni ¢io-ecotlOTnic landscape 2nd lis uidely rewned impaci on Ihe hospitslity ￿tOr. il re-n]airns a going concern. In order 10 remain viable into the filiure. il mu51 coniinue io rely on grani funding and. wryih no new, IwportunilEe% yer ideniified. Ihe Tru%iees recognise Ihai Ihe Chariiy will need io subsidi5e the emploJ7nent programmes during the nexi finanLial period. The Tntsiee5. through the Dire¢ior5 of ihe company. hai'e agreed a strJiegic plan lo increa￿ sales and e%labli.%li robu%1 en)ploJThenl pathway programnje wthich is aiirJciive io ini'esiors and ￿ndern. The firsi %iep in miiigaiing ihe risk of significani financial lo￿ 1.4 10 install a snwll managemeni ieam. reportrng 10 lh¢ Director%. io run rhe Irading ubs'idiary. Tl)e Trusiee4 Lontinue lo clo*ly mnilor th¢ ￿rf0M￿nCe of the Charli￿8 existing acliviiie% for further key risk% and regularly refv'iew poli¢i¢.s, procedures and strdiegie$ 10 ensure they are relevani. up-I iemi objeclii'e, and in re%w)rt4e lo ihe liijiiied %taiuiory suppon %en'ice4 (or adul14 with learning di%abiliiie%. 1.% 10 open a %¢¢ond day cenire for n¢urodiN'er¥eni adult% and people ￿'11h niild-moderaie learning dilabiliiies in %ouihea%i London. The TN%iee% consid¢r ihai ihe Chariigs S￿1811￿M lie4 in communiiy engla￿￿enIent and aciiille participation and a% suLh. do noi for¢s¢¢ broadening 5UPPOrt for ¥duli% Mryih *evere and profound di%abilitieii. To a¢hieve ihi%. Ihe Chariig% lhon 10 medium i¢rni objeciii'es are io Iran%iiion 11% new Iranlpon lervice aw'ay froin ionira¥ied pn)vision io Jn in.hou*e delii'er>' model, 10 *ecure new premiie% in adi'ance of 11% ¥urreni lea%e expiriiigi ai D()umhan) Cunimunily Cenire and io coniinue io re%irncitsre and re4TrurLe il% staff tearn amidli a challenkrinbi recwiimetLI land%Lape. Havingt acquired Ib?nilion Br¢wcry. Ihe TnLiiee.¥ #150 aim 10 dii'er41fJ the Chariiy% incon)e lunher Ihii)UbJh Ili¢ dLI'el()pmeni of new. eniployabiliiy %en'iie%. in lin¢ wilh il% expan410ll lo muliiple %iie%. The Tru%le¢% al40 Lon%id¢r Iliai lh¢ e%iabli%hing oran impaci rnea%uremeni frdm¢work for iM)th il.4 day service and en)ploydbiliiy %erviie. 10 be criliLal 10 Ill fuiure plarL%. Addiiionally. Ihe C hariiy aims lo d¢i'elop i14 biovernance siwciure% by recruitingv a Trea%urer lo oi'eTh¢e 11% financial pro¢¢dure% alonbi%ide eslablilliing an appropriaie number of %ulKofftmilitt& io SUPPOrt ihe work of the Charity li oniinue% 10 &prow. The Tru%tee* aim to develop a new 3 - .5 vear siraiegy over the tt¢xi 12 . 18 months. STRUCTITRE. GOI'LRNANCE AND IIANAGEIIIE.YT CJV%"eriiing dotunicnt The Cliariiy 1% a Chaniable IncOr￿raI¢d Ownisaiion Wh￿ only i'Olin8 members are ill Trn%iee4. li is governed by li Foundation Con%lltUlion. 1.lie Chariiy ha4 six Tru%lees Imembet41 who can s¢rye no more than three lern￿ and who convene ai leasi four limes per year. Each TN%iee abJree% 10 pay £1 in the e%'eni of Ihe Charity being wound up. The Tru%tee4 are respon%ible for governance. compliance. ¥iraiegy. ri%k managernenl. seiiing headline objeciii'es and moniloring perforniance against these obje¥iii"es. To this end. Tru%iee% receiied regular update4. including full repon oil aciivilie% and fjnancial inforniaiion on a quarlerly basis. Busine55 planning and siraie8i¢ plarLq are di%cub%ed and agreed by ihe Tru.%ltt% al Board meeiin¥s. All Tn¢%iees give Iheir time &oluniarily and recetve no benefiis frorn ihe Ch¥iiy. Recruitment And appolnirnenl of Trustees Ne￿. Tnjsiees are appointed following a thorough recruitsnent proceks. wilh apkK)inimenl% decided by Ihe existing Tru4iee.s. RecnJi¢menl is undertaken on a skjlls wilh skills and knowledge gaps anM)ngis1 existing Trusieeb identified and sou¥hi oui ￿Trib]n new. Tru%iee%. No ney. Tru%ie¢s were appoinied during ihe financial period. Page 9 BRIGHTER HORIZOTr*S REPORT OF THF. TRLSTEES foT Ibe Year Ended 3114l*rcb 2024 STRUCTURE, GOVERNANCE AYI D I¥1ANAGENlE￿T Org#nlsation#l structurt To facilitaie effeciii'e 0￿ra110n￿. Ihe Trusiees employ a Chief E.¥e¢uiiie oificer ICEO) lo %thom ihey hai'e delegated auihoriiy for the operdiional mailers of the Chariiy. The CEO leads Ihe staff ieam and is respoTrsible for service perforniance, staff recmilTneni and management. logistical and operational niaiier% relaiing 10 the day-io-day running of Ihe bu%ine55 and ihe flnancial perfornian¢e of the Charity. In addition. he ha% delegaied resFK)n%ibiliry for ensuring ihai ihe Chariiy remains complaint wilh legislation. funders, in%urer%. and oiher interesied parties. The CEO utiliscs ihe support of four senior S￿ff ar]d rneci.% regularly wilh Ihe Chair of Trnsiees. The tnanogenieni ol'Chariiy'% trading *U￿]diary. Igniiion Brewery. 1% del¢gaied to four Dir¢¢iors. wilh ihe appoininieni of n¢w Diieciors the r￿PonSIbl1]IY of the Tru%iees. The curreni Direciors are the Chair of Trn5t￿, Chief E"xeculive OtTicer and an independenl indu.%try expert. with Ihe founh directorship CUTrenily N'a¢ani. Th¢ Tru4tees delegyaie ihe %1fdiebFiC plaTming and day-10-day Managen￿lI of Ihe %ub%idiary 10 lh¢ DirecioTh who are re%ponsible for statT perforn]ance and manabjenieni, Complia￿¢. financial perforniance and logi%lical and op¢raiional managemeni. The Tru.4lees retain re%pon¥tbiliiy for ¥overnan¢e and ri.%k mana8emeni. 'rhe Directors of Ihe irading subsidiary receive no paymeni or oiher benefits in Ihe p¢rfom)ance of iheir role. liiductlon ind irAlninE of ne*. Trusiee5 ()11 app()ininieni Ilii. "I"ni%lee% %ig?n a rebJ.%l¥r of iniere115 which is updaied armually. Ai each meeting Tw%lttS are a.%ked io declare any conllicis of inieres1.Tw%iees' induciion and onbjoing) invollerneni include% i'1411% io Ihe a¢iiviiie¥ deliKerLd by the Charity, meeting% ￿.1111 Charity members. senior %latT. and key ¢xiernal s￿keholder￿. The TTu%iee% al%0 make aTratlable copie% of th¢ laitri annual report and 41aiem¢ni ofac¢ouni.¥. Rel#t¢d PArile5 StnLe 11.% incepii()n Bri¥hier HoriEon% ha% enjoyed and appreciated a ¢lo*£ relaliorLship with The London Borouuh of Lewi%hain, il% major funder and from whom mosl ieti'ice u%er referral% are rtteived. Bri¥hter Ploriion% OLcupie.4 11% prinLipal %pace under lea%L. from Downham Conununiiy Centre IW¢%ley Hall%) and i'i¢wA Ill Iocaiion a% being inie¥ral 10 providing %ervice% rooted in ihe local Dow7tham communiiy. The Charity wholly and o￿TaleS Igniiion Brewery (Company No.. 097367691 a% a trading %ubsidiary operaiin¥ oui of 44a SydLnham Road. Sydenham. SE--?f> SQF. Th¢ irading iub4idiary enjo}'.4 close %uppon froni liaff ai Ihe Charity in order lo ¥upport il% wider miK%ion of oiferinbT employmeni io adulL¥ with leamin¥ di￿bIllI1e￿. The Chariiy k¢ep% and mainthin% a Tw%itt4 Re¥i%ier of Inierests. ManaEeNieni remuneratlon policv The Chief Exe¢uiii'e Offjcer {CEOI is appointed by ihe Tru%iees. Appoiniments ai fhi5 level lak¢ inio ac¢ouni ihe following factors.. Ihe Charity's ability lo pay the wage5 of senior staff the lype.% of .4kill%, experiences. and ¢ompetencie% the Chariiy needs from its ￿lor staff and the ￿0pe of ihe role bein8 recruii¢d the Charity's obje¢iii'e4 and ihe number and nawre ofsenior sthff needed 10 fvifil th the impact of markei rates on cmpIo￿t￿t. All other.8iatTare appoinied by the CEO. The Trusieeb retain and exeicis¢ iheir r¢spon5ibiliiy for Setting pay for all employed POSLS. Pay 15 reviewed OD an annual basis. Equal opportunltie5 Brighter Horizons is commiiied to being an equal opFM)rtuniiies emplover. The Charity is commitied io ensuring Ihat no job applicant or employee is di%criminaied agaiJL%i on the grounds of di5abili(y. rdce. religion. age. naitonal origin. gender. sexual orientation. gender id¢niity. gender eKpre&8ion or on any grounds which are unjusiEfiable in ternis of equaliry of opponunily for all. Page 10 FTH Rwrt of the dirryw on..... a S¢rdiw rqw by oftkr of the Lyjard of trustw the c¥)mpthy sI￿¢d on th¢ iy)¥&$ iyhalf by.. K Lee. Tnwtee Pageli INDEPENDENT EknIIINER'S REPORI" TO THE TRL,STELS OF BRIGHTER HORIZO.%S Independtnt examiner's report to ihe trll5tee5 of Braghter Horizons {'the Compani ) I repon 10 the charii}' Irusiee% on ni), ¢xaminaiion ol-the acLount% of rhe Compan). for the )'ear end¢d 31 March 20?4. Responsibllltles and basis of reporl A% the charity's irusiee.% ol-¢he Companv land also its direciors for the PUTP05es of company law) you are re%iTr0115ible for Ihe preparaiion of the accounts in accordance with the requirements of rhe Companies Act 20061'th¢ 2006 Act'l. HavingT 5at15fied myself thai ihe accounts of the Company are noi required io be audited under Pan 16 of the 2006 ALI and are eligible for independeni examinaiion. I report in respeci of my examinaiion of your chariW¥ accounts a% carried oui under Section 145 of the Chariiies Act ?01 I I'ihe 2011 Aci'l. In caryin¥ out rny examination I haN'e followed the Directions given by Ihe Charity ComTlliSSiI)n under Seciion 145{51 {bl of 2011 Act. Independent examlner's siaiement Since yi)UT charLty'% byroK4 income e.¥cttded £?50.(K)O your exarniner musi be a nwmb¢r of a li%ied body. I can confinn that l ani qualified lo und¢nake ihe ¢xamin81ion bwause l am a member of the I￿￿11t￿le of Chanered Accounthnis in Enkland and Wale%, which 1% one of Ihe l¥%ied bodies. I have completed my examination. I confirni thai no mjlters have come io my Jtteniion in ¢onncction ￿7th Ihe ¢xaniinaiion gii'ing rne ¢aus¢ io belt¢v¢'. accouniing record% were t￿1 kept in respeci of ihe Company as ￿qUired by Section 386 of ihe 2(M)6 Act: or the aLLouni% do not accord with lho￿ records.. or the acLounl% do noi comply wilh th¢ a¢¢ouniingTr requir¢meni% of Seciion 396 of ihe ?006 Aci oiher Ihan any requiremeni Ihai ihe 8¢couni% gil'¢ a true and fair i'i¢w ￿,hICh Is M)1 a mailer con%idered a% pan of an independeni examinaiion., or Ihe accoun14 have noi been prepared in accordance w'ith the rnctllods and pri￿lP]eS of the Slatepieni or Recommended Practice for accouniinby and r¢portin&i by ¢hariiie% lappli¢able 10 ¢hariiie% preparing ilieiT aLLouni in accordan¢¢ with ihe Financial Re￿nIng sla￿14rd applicable in ihe UK and Republic of Ireland IFRS 10211. I I￿%,C no con¢em% aThJ hafv'e come a¢ro.K% no oiher maiiets in Lonttection with the examination io whieh aiienlion sliould be drawn in ihi.% repon in order to enable a proper urtdersiaThJin8 of the J¢counL4 io be reach￿. Simon Milburn FCA The In%tilUte ofchartered Accountants in Ert8laTKI and Wale H & E Johnson ClianeTed A¢counianis Sandall Hou4e 230 High Sireei 14erne Bay Kent CT6 SAX Date.. 282> Page 12 BRIGHTER HORIZONS STATEIIENT OF FIN￿￿ClAL ACTII'ITIES f•r tkne Year Ended 31 Ill*rch 2024 2024 Total nds ?0?3 Total Unrestricied fund Resiricied nd Noies INCO￿lE AND ENDOWIIEN'TS FRO￿1 Do￿(10n% and legacic 784,021 784,0?1 606,407 Other irdding aciiviiie5 Inve%iment income 1.798 1.917 1,798 1.917 7.371 330 Total 787,736 787.736 614.108 EXPENDITURE ON Rai4inL fund 60? 602 Ch#rltable aetlvltles L&re 716.953 716.953 573,259 Total 717.555 717.555 573.259 NF.T INC0Tr1F. Tr#nsftrs beiThfen fund5 70.181 13fi 70.181 40.849 16 11361 Net movement In funds 70.317 1136) 70.181 40.849 RkCONCILIATION OF FllTr4'DS I'oial lund% brou8hi forward 243.784 4.056 247.840 ?06.991 TOTAI. FUNDS CARRIED FORII'ARD 314.101 3.920 318.021 47.840 The noies forni part of these finarKial staiemenL% Pa8e 13 BRIGHTER HORIIONS BALA.N'CE SHEET 31 Jlar¢h 2024 2024 Total 2023 Total fund5 Unrestyicied fund Resiricted nd Noies FIXED ASSETS Iniangible as%els Tangible asseLs 12 13 334 12.112 334 12,112 667 13.799 12.446 1 ?.446 14.466 CURRENT ASSETS Debtor Ca%h ai bank and in hand 14 133.304 212.165 133.304 216.OR5 76.776 190,452 3.920 345,469 3.920 349.389 ?67.2?8 CREDITORS Amount% falling due wiihin one year 15 143.R141 143.8141 133,8541 NET CURRENT A.SSETS 301.655 3.920 305.$75 233,374 TOT AI. A.f>8F.T8 LE.SS CIIRRENT I.IABII,ITIF. 314.101 3.920 31R.021 247.840 NF.'r ASSETS 314.101 3.9?0 318.021 247,84 FIIP*DS Unrc4iri¢ied fund Re%lriiied funds 314.101 3,920 243,784 4,056 TOTAL bUN'DS 318.071 247.1140 The charilablL company is eniitled to exunplion from audil urmler Seclion 477 of the Companiei Aci 2006 for Ihe year ended 31 Mar¥h 20?4 The meinber% hake n()I required the Compan). to Dbiain an audii of ils financial sthiements for ihe year ended 31 March ?074 in accordance ￿'bih Section 476 ofih¢ Companies Acl 200ftr. The InJ4iees acknowledge Iheir responsibilities for lal ensuring thai Ihe charitable company k¢ep% a¢countirt8 records that Comply w'ith Se¢iion% 386 and 387 of the Con)panie% ALI 200fi and preparin¥ financial %laiemeni% which gil'e a true and fair i'iew of the slate of oifairs of the chariiable company as ai Ihe end of each financial year and of 11% surplus or deficit for each financial year in accordance ￿￿(h tlie requirements of Steiion% 394 and 395 and which otherni* comply ihe requirement.% of the Companies Aci 2006 relaiin&Tr 10 fJnan¢ial siaiemenis, %0 far a% applicable 10 the ¢hariiable company. Ibl The TKbtes forni pan of ihese financial S￿lemen1$ Page 14 Theye s￿￿ments have beul wared ID a¢ ¢on%i%ienl Wlth lh¢ ule of Tan%lblo fi￿￿ 955¢t$ Dcprciiaiiiin is prL)i ided ai Ihe following annual raies in order io wytte off each a&%ei over it% e4tLiiial¢d u4efvl life. Plant and machÈnery Motor i'ehiLle Computer ¢quipmeni 25y*l on cosl 25•/* on reducing balance 259/0 on 1051 T#xAilon 'rhc Lliariiy i.¥ exempi from ¢OTpofdlion on lis chan.￿ble xiiviiias. Fund accountln% Unre%lTILted fund% can be used in accordan¢e wryih the Chan.￿ble objec11v￿ 81 the di%creiion of the trustee￿. Re%iricied fund% can only be used for particular restricted pUr￿leS wiihin Ihe objects of the charity. Restriciion ari%e when %pe¢ified by Ihe donor or ¥then fun(L% are rai*d for p8nicular re¥tricied purposes. Further explanation of ihe nature and pur￿* of each fvnd is included in the noies io ihe financial siatemenis. Hlre pur¢ha5e and leasing ¢ommilments Renlals paid under operaling lea%es are charged to the Stalem¢ni of Finaneial AetlVEiies on a %tTaighi line basis ovei Ihe period of the lease. PeD510JI tOSt$ 8nd o¢her post-r¢tir¢menl benefi¢s The ¢harithble company operaies a defir]ed conlribution penSEon ￿heThe. Contribuiions paydble io the charitable company'5 pension scheme are char¥ed io the Statement of Financial Actii'ities in the period io whi¢h ihey relaie. Page 18 BRIGIITER HORIZONS NOTES TO THE FJN.&%CIAL ST.4TEIIF.NTS - coThtinued lor the l'ear Ended 311l*rrh 2024 DO￿ATIONs AND I.EGACIES 2024 2023 Grants Local auihoriiy funding SeTr'ice u%er fundin 4,500 738.641 40.880 569,188 37,?19 784.021 606,407 Grdlli% received. ]￿l￿ded in the above. are a5 follo￿.. 2024 2023 Other urdnts 4.5(H) OTHER TIL4DING ACTII'ITIES 2024 2023 Fundraising eveni 1,798 7.371 INI'LSTfvIEN-r INCOME 2024 2023 Depo%ii accouni iniere%t 1.917 330 RAISINC TrUN'DS Ralsln% donatlonl and l¢g8clo5 2024 2023 Fundrai%ing expen%e4 602 CIIARITABLF. ACTII'ITIES COSTS %upp(Trn ¢0%14 Ibce noie 71 DirLYI Toial Care 558,692 158.261 716.953 Page 19 BRIGHTER HORJ7A)NS OTES TO THE FINA%CI.4L ST.4TE.IIENTS- ¢ODtinued for the Year Ended 31 ￿larch 2024 SUPPORT COSTS Governance Management Finance Totals Care 131.639 539 26,083 158,261 NET INCO￿lE}(EXPENDITLREl Nei incornellexpeTJdilur¢l is sthted afier charginWlcrediiing).' ?024 2023 Depreciaiion- owmed awls Other operdiin¥ leases Compuier loft￿?re amonisation 4.038 2fl,650 333 4,600 32,913 333 TRUSTEES. REIIUNLRATIOY AND BF.YEFITS There were no irusitts, remuneraiion or other benefits for th¢ year ended 31 March ?0?4 nor for Ihe year ended 3 l Marih ?0?3. Trustees, expenst5 There were no InL%tee.%' expen4t.s paid for ihe year ended 31 March 2024 nor for the y¢ar ended 31 March 2023. STAFF COSTS 10. 2024 2023 WaLJe% and ￿larie Social %ecurily ¢o%l Oilier p¢n%ion co%1 431.031 25.735 10.859 364.300 2S.6.$6 fi.895 467.62$ 396.851 The averdge monihly number of employec4 dyring the year as follows.. ?024 2023 12 Day %ervice slaff OtTice.4uppon Bank ¥Up￿n 22 20 No employees received emolumenls in exces5 of £fi0,IX￿. Page 20 BRJGHTER HORJZONI S FIOTES TO THE FINANCI.4L.STATENIE.NTS- continued for the Year EDded 31 .Ilar¢h 2024 COI¥IPAtL4TJVES FOR THE STATE.1IE￿T OF FI)￿)cIAL ACTII'ITIES Unresiricied fund Resiricied fund Total nds Ir+ICO￿lE AND EYDOWIIENTS FROfvI Donaiions and lega¢ies (th.407 606.407 Other Irdding activities Investment income 7.371 330 7,371 330 T•lAI 614.108 614.108 EXPENDITLTRE ON Charitable •r¢ii'itles Care 573.259 573.259 NTr.T 1￿Co￿tE TrAnsfers between funds 40.849 171NI 40,t149 718 Nei moiemelll In funds 40.131 718 40.849 RECONCII.IATIO% OF FUliDS 'Ioial fund% br()ugphi fon4.ard 203.653 3.338 206,991 TOTAI. FUNDI) CARRIED FORII'ARD 243.784 4.056 247,840 12. INTAP4C.IRI.L FIXED ASSF.TS Con)puier .soliware COST Ai l April 20?3 and 31 Mar¥h *024 1.000 A￿loRT]SATION Ai l April ?0?3 ChaT¥e for year 333 333 Ai 31 March 2024 66 ET BOOK I'ALUE Ai 31 March 2024 334 Ai 31 March 2023 667 Page?1 BRIGHTER HORIZO.NS OTES TO THE. FJ.%AP*CIAL STA TEIIE.NTS- Continued for the l'ear Ended 31 ￿lIrth 2024 13. TANGIBLE FIXED ASSETS Plant and machtnery Motor i'ehiLles Computer equipn)ent Totals COST Ai l April 2023 Addiiions 284 (Tr3.874 10,762 2.351 74.920 2.351 Al 31 March 2024 284 63.874 77,271 DEPRECIATION At l April ?0?3 Charge for year 247 10 5?.505 2.842 8,369 1,186 4.038 Ai 31 March 2024 257 55.347 9.555 65,159 P*ET IIOOK VALIJE Al 31 Mar¢h ?0!4 27 8.527 3.558 Al J l Maf¢h 2023 37 11.3(J9 2.393 lJ.799 14. DEBTORS: A￿louNT5 FALI.IWG DLIE II'ITHI% OP*E I'EAR 2024 2023 LoLal auihoriiy funder% Amotsni.4 owed by gr¢Trup undenakin85 St£1ft'advance.% PrepaiThenis and ac¢Thed income PrepaJThenl 116.164 1.000 2.601 13.175 364 64,R30 1,160 10.7Afi 133.304 76.776 CREDITORS: A￿10L￿1Ts FAI.I.ING DLE II'ITHIli ONF. I'F.AR 2024 2023 Trade creditor Social security and other taxe5 Oiher crediior% Pension ¢reditor Nei wage Accrued expen5¢S 28.323 7,019 436 1.87fi 11(KJl 6,260 6.9fi8 943 1,442 10 7,31)0 43.814 33.854 Page 22 BRIGHTER HORIZON'S NOTES TO TIIE FI.PlA.￿*C1AL STATE.IIE.NTS - Continued for the lear Ended 31 .Nlarch 2024 16. lovE￿IENT I￿, FUNDS Nei moiemeni in fvnds Trdnsfers beiuten Ai 31.3.24 At 1.4_23 Unre$triefed funds General tund ?43,784 70.181 136 314,101 Restricted fund5 ServiLe user fund 4.056 11361 3.920 TOTAL FUNDS ?47.R40 70.ISI 318.021 Net movemeni in ￿nds, included in Ihe above are as follows.- ITKomin¥ resourc¢5 Re4ources expended Mo%'eMeni in funds Unresirlcted funds Gcnlral tund 787,736 1717,5551 70.181 TOTAL FUTr*DS 787.736 {717.5551 70.1111 Cornparatl%'e$ for moi'emenl funds Nei moi'emeni in funds TraTr4f¢r% beimren At 31.3.?3 Al 1.4.!2 Uthrestrlcted fund$ General tund 203.fi53 40.849 (7181 243.784 Restrl¢ted fund$ Serkice user fund 3.338 718 4.056 TOTAL FUNDS 206.991 40.849 247,840 Comparaiive nei llK)vemeni in fvn(Ls. included in the above are as follows.. In¢omin8 Moi'¢n?ent in fijnd expended Unre51rieted fund5 General fund 614.108 1573.259) 40.849 TOTAL FUNDS 614.108 {573.2591 40,849 Page 23 BRIGHTER HORtZOTr4S -NOTES TO THE FJ.%'A.%CIAL sTATE￿IEN'T5 - continued for th¢ l'ear Ended 31 .%larrh 2024 16. MOVEfvIENT IN FL'NDS- Conlinued A current year 12 months and prior year 12 monih5" Combin￿ positjon Is as follows- Nei mo%'ement Tran%fers betw'een At 31.3.24 Ai 1.4.22 Unreslrieied fuMds General fvnd 203.653 111.030 {582} 314,101 Reitri¢ted funds SetViLe uler lund 3.338 582 3,920 TOTAL FUNDS 206,991 111.030 318,021 A curreni year 12 monihs and prior yedr 12 nKTrnths combined nei nKTrvement in fundx. included in Ihe above ar¢ a4 follow4.. Incoming r¢wurces Re%ources expended Movenicni in fund Unrestricted funds General ￿rtd 1.401.844 11.290.814) 111.030 TOTAL FLTNDS 1.401.R44 {1.290,8141 11.030 17. RELATED PARTY DISCLOSURF.S On 31 Au&yu%l 20?3. Ihe ¢hariiy Ihe akiei% and liabiliiie% of Ignition Brewery Liniiied no. 09736769 IEnbland and Walesl, a company limiied by bpuardnitt.Ai 31 March. ?0?4 the Nei a%%eis ol the ¥oiMpany amouni¢d 10 £44.847 and the loK% for Ihe period w'as £21,844. Thc charity ad¥"anced £l.000 to l¥niiion Brewery in the period undcr review. Page 24 BRIGHTER HORIZO,%'S DF.TAILED STATEIIEf*T OF FIN.4.NCIAL ACTIN'ITIES lor the It*r Ended 31 Nlarch 21124 20?4 INCOME AND ENDOIIryIENTS Donatlons 3nd le£aries Local auihority fvnding Service user fundinb 4.5(X) 738.641 40.880 569.188 37,219 784.021 606,407 Other trading #¢iii'ities Fuiidrai%in¥ evenis 1.798 7,371 Ini'¢stJntnl income Depo%ii accouni inicresl 1,917 330 TOIAI INrominE r¢sourees 717,736 614.108 EXPEf*DITIJRE Rai%lnE don81ions and legaeles l uiidrai%iiig expen4e 602 C h#rltable actlvlile5 S(Kial 4ecuriiy Pen%ion ()Iher opcraiin¥ lease¥ Fl¢alih iniurance I'r47VLI & subsibtence Tran%port 350.031 17.0fi7 8.134 28.650 ?88.637 17,300 4,1159 32,913 1.663 1..Sh3 11..$85 43.361 220 14.975 1.387 Perional Lar¢ Mi)101 exp¢n%es Staff unifomi 48.65? 446 12.1)04 4.900 558,692 414,076 Support cosis qanagement Wagye Social security PeJ)sion I'elephone Po.%ia¥e and.¥lalionery Adverti%ing Sundiie. oirice expen%e Conipuler expenses Staff welfaie Carried ron￿rd 81.000 8.668 2.725 994 1.501 3,199 619 766 8.982 828 109,282 75.663 8.356 2.03fi 970 1,908 1.189 7.054 9.375 107,564 This page does noi fomi part of the SthnLiOry financial slatemen Page 75 BRIGHTER HORJZO)S DETAILED STATEIIE.%T OF FINANCIAL ACTIVITIES lor the Year Ended 31 llarch 2024 2024 2023 Illanagement Brought f(Trrn•rd In4urance Cleaning Staff Irainin8 Licences & Sub￿rIpl10n% Bursaries Computer 4ofiw3re Plani and machinery Moior vehicles Computer equipmeni 109,282 5.183 3,964 7,159 1.279 401 333 10 2.84? 1.186 107.564 4.719 2.075 12.787 1.3811 333 13 3.7119 798 131,639 133.466 Fln4n¢e Bank Lharges HMRC inierest 304 235 250 84 539 334 G•vf rn*n¢¢ costs ALcouniancy lees Le￿1 & pro(es5ional fees 4,3?0 21.7fi3 3.800 21,583 26.083 25.383 Total re%ourie% expcnded 717.555 -573.259 Net Income 40.849 This page not forni part of the statuiory f￿ancial S￿leMen15 Page 26