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2025-03-31-accounts

REGISTERED COMPANY NUMBER: CE019370 (England and Wales) REGISTERED CHARITY NUMBER: 1186053

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

BRIGHTER HORIZONS

(A COMPANY LIMITED BY GUARANTEE)

H & E Johnson Chartered Accountants Sandall House 230 High Street Herne Bay Kent CT6 5AX

BRIGHTER HORIZONS

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2025

Page
Reference and Administrative Details 1
Report from the Chair 2
Report of the Trustees 3 to 11
Independent Examiner's Report 12
Statement of Financial Activities 13
Balance Sheet 14 to 15
Cash Flow Statement 16
Notes to the Cash Flow Statement 17
Notes to the Financial Statements 18 to 25
Detailed Statement of Financial Activities 26 to 27

BRIGHTER HORIZONS

REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 March 2025

TRUSTEES O Ajayi R Chakraborty H Ghalegolabi K Lee M Mizen B O'Keeffe REGISTERED OFFICE Downham Community Centre 2 Shroffold Road Downham Bromley BR1 5PE REGISTERED COMPANY CE019370 (England and Wales) NUMBER REGISTERED CHARITY 1186053 NUMBER INDEPENDENT EXAMINER H & E Johnson Chartered Accountants Sandall House 230 High Street Herne Bay Kent CT6 5AX SOLICITORS Bates Wells 10 Queen Street Place London EC4R 1BE CHIEF EXECUTIVE OFFICER Mr David King

Page 1

BRIGHTER HORIZONS

REPORT FROM THE CHAIR for the Year Ended 31 March 2025

My fellow Trustees and I are pleased to present our annual and strategic report for the year April 2024 - March 2025. The Trustees are pleased to report that the number of adults we are supporting each day has increased by 12% for the second consecutive year, to around 47 people. This represents the largest service we have ever provided and, as the year comes to an end, we have a waiting list of 12 people, whose suitability for our service we are currently assessing. We already know that our current provision will be full before we can support them all and we expect that moment to arrive within the next few months, providing our Board with a renewed drive to realise our long term plan of opening a second centre.

Once again, this year has seen the Charity sustain the highest turnover in its history as we deliver more care than ever before. Our staffing continues to grow with 27 people now on our team, including an HR Administrator who has added 33% capacity to our small team of 3 non delivery staff. We have worked hard to embed our new transport service and are delighted that this is so highly rated amongst the people we support, scoring 10/10 for satisfaction.

This year has been a story of slow and steady growth in order to ensure that our beneficiaries still receive the same level of service from us as when we opened 8 years ago with a handful of staff supporting 20 adults. One of the reasons we had planned for a break even position this year was because we have invested in more staff to ensure this and still, thanks to close monitoring and prudent financial management, the Trustees are pleased to report a small surplus which will go towards increasing our reserves in support of our long term aims.

Brighter Horizons enjoys close working relationships with local partners and the Trustees pay tribute to their work and express our thanks for their support. Local partnerships such as Lewisham Mencap, Lewisham College, Imago and St. Lukes Downham strengthen the work of the Charity, the opportunities available to its beneficiaries and the sector locally. Of particular success was this years' annual sports day. A joint project with the Ladywell Centre which runs services for people with profound and multiple learning disabilities.

This year is also the first full year operating Ignition Brewery, our trading subsidiary, and restructuring work here will lay the groundwork for the development of the business and the employment pathways it provides. We were delighted that it won in the Best Community Contribution category at the Lewisham Business Awards, a testament to the hard work of the team there and a legacy upon which we seek to build.

The single biggest factor affecting the quality of our service and the lives of the people we support are our staff and we remain enormously grateful to have such an exceptional team. The average retention rate in our sector is 72% with an average vacancy rate of 17%. We are proud that our retention rate is above 90% with an average vacancy rate of less than 5%.

We're even more proud of the adults who we have the privilege to serve every day. Whether it's speaking in public for the first time, learning how to self-regulate when feeling anxious, working closely with a key worker to monitor daily exercise and weight loss, learning how to travel independently, learning how to make a hot drink, improving mobility through repeated physiotherapy, or increasing self-worth by raising money for a good cause, all of our adults have their own story to tell.

Putting people first is at the heart of everything the Charity does. And so, on behalf of the Trustees, I extend my sincere thanks to all the Charity's staff for their hard work, support and flexibility throughout the year. At the time of writing in the months since the year under review, we were sad to learn of the untimely passing of John Downey, who has worked for us since 2021. The Trustees extend their heartfelt condolences to John's family and mourn his loss as part of our team. John was always at his best when at work and, in the words of his family, "the best version of the lovely and funny man he was".

The Trustees are also deeply grateful to the Trustees and staff of Downham Community Centre (Wesley Halls), the staff at Ignition Brewery, our corporate sponsor Clearance Capital and all the partners who help us to deliver such a varied and exciting programme of activities. Most importantly we thank the parents and carers of the adults we support for their enduring trust in us.

Kieran Lee Chair of Trustees

Page 2

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 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 March 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).

Page 3

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 2025

OBJECTIVES AND ACTIVITIES Objectives and activities

The main objective of Brighter Horizons, as outlined in its Constitution, is to provide relief for individuals in need because of disability. This relief extends to the families, dependants and carers of disabled people and includes (but not exhaustively) the provision of care, treatment, education, and training. As such, it plays a key role in adult social care provision within the London Borough of Lewisham.

To achieve its objective, Brighter Horizons operates a day service for neurodivergent adults and people with learning disabilities and runs a social enterprise which offers employment & training. The Charity: - seeks to work in a co-productive manner at all levels from Board composition and staff with lived experience to engagement with parent-carers and service user decision making across all aspects of the service

The Charity's short term objectives are to secure long term premises for the current day service and to enhance its pathways into employment for neurodivergent adults and people with learning disabilities, to continue to provide high-quality services and to develop a robust fundraising strategy to underpin these plans. Its long term objective is to increase the level of provision offered across southeast London as outlined later in the report.

The current day service in Downham operates with 4 managers, 19 service delivery staff operating a 1:4.5 ratio (although this differs by activity, in order to meet the needs of service users) and 3 support staff. Additionally, the Charity has 4 relief staff who provide additional support and cover as required. 76% of the Charity's spending is directly on its services with the remaining 24% spent on support costs which include staffing, the Charity's infrastructure costs and governance. As a predominantly service led Charity, over 68% of expenditure is on staffing.

Access to the Charity's services is via self-referral or by a social worker or other appropriately qualified health and social care professional. The Charity provides service users with a flexible offer, designed to meet theirs and their families' changing needs. Service users can change their attendance and their weekly timetable as they require, and the Charity is able to provide 1-2-1 support for clients where funding is available. Offering long term placements within the social care sector, the Charity operates a weekly provision of activities across three curriculum strands: physical and emotional wellbeing, skills for life and the arts. Service users, together with their allocated key worker and other health and social care professionals, construct a personalised timetable of activities, carefully tailored to their personal preferences, needs and development targets. In total, with 42 different sessions on offer, there are over one million combinations which means each service user really does have a provision entirely tailored to their needs.

The sports and wellbeing programme aims to push service users physically and help build confidence by overcoming self-imposed limitations. Additionally, it supports with weight loss, mental health and provides physiotherapy for musculoskeletal and other conditions. The Charity works closely with local providers to offer specialist activities and by making public sporting appearances, service users also challenge the stigma that exists around people with learning disabilities taking part in sport. The programme includes 17 activities such as martial arts, cheerleading, trampolining, cycling, swimming, yoga, golf and gym attendance.

The Skills for Life programme focuses on enhancing and developing functional skills such as handling money, preparing food, growing vegetables, eating out, using computers and developing communication. With 18 different activities each week, the programme builds independence, promotes good decision making and develops confidence in public settings. Service users manage their own allotment and contribute to the daily running of the Day Centre. The Charity also operates an annual calendar of seasonal events which include day trips, carol singing in the local community, theatrical performances and themed parties.

The Arts programme includes various forms of artistic self-expression, which are encouraged as a means of communication, therapy and to improve fine motor skills. The seven activities include various forms of dance, music making, drama, singing, arts and crafts and film making.

The Charity maintains and operates three 17-seat accessible minibuses which enable the cost effective and safe delivery of its community-based provision. The Charity also uses these to provide transport to and from its centre, for service users who are otherwise unable to travel.

Page 4

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES

for the Year Ended 31 March 2025

Through its trading subsidiary - Ignition Brewery - the Charity also provides employment and training for neurodivergent adults and people with learning disabilities. The Charity works closely with local education providers to develop skills in customer service and hospitality and provides training grants to develop the employability of its team members.

Public benefit

As a registered charity, the Trustees of Brighter Horizons give close regard to their obligations to report the public benefit of its charitable purposes as defined by the Charities Act 2011 and Charities (Accounts and Reports) Regulations 2008. The Trustees also consider that they have exercised due regard to the Charity Commission's Public Benefit Guidance when exercising their powers and duties, as outlined in the Charity's governing document.

Page 5

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 2025

STRATEGIC REPORT

Achievement and performance

The Charity rolled out its first feedback and impact work this year and uses a mix of numerical and qualitative indicators for success. The Trustees consider that building on this impact measurement framework will be critical to future plans therefore increased investment in this is planned for future years.

The Charity supported a total of 71 people during the year, ending the year with 68 people regularly receiving care and support. The number of service users grew by 7% at year end, though the average number of hours of care provided per week increased by 13%. In total the Charity provided 60,467 individual hours of care and support, including 1,590 hours of 1-2-1 support and 437 hours of subsidised care, provided free of charge. Each hour provides an opportunity to live a life with opportunities, to learn skills, develop relationships and to experience belonging. As one family told us, "We're happy something like this exists for adults like Joey, who would otherwise not have the chance to access the community and socialise." For parents & carers, each hour provides them with an opportunity to work or maintain a household, care for other relatives or to take some respite from the 24-7 demands of being an unpaid carer. 100% of our beneficiaries said that they were happy with the service they received with 8 out of 10, rating it 10 out of 10.

The Charity's transport service provides life-changing transport for families who would otherwise be unable to access our services. In total we provided 14,514 individual journeys during the year, supporting 38 service users, purchasing a new minibus to expand our fleet to 3 vehicles to enable this. The service enables us to provide door to door wraparound care making our services more flexible and easier for people to use. Bringing this service in-house and expanding our team with new Drivers & Passenger Assistants has been one of the standout successes of the year with 94% of beneficiaries rating our transport service as 10 out of 10. We know that it's our staff that have the impact. "She loves Gina! She has a great relationship with the transport team" one family told us. That's the reason that Izzy now gets up earlier each morning and is less likely to exhibit challenging behaviour, making life more enjoyable for her and her whole family.

This year we have seen our allotment expand to accommodate larger demand and we're grateful to Clearance Capital for their sponsorship and time to build a new seating area which will enable our beneficiaries to stay there for longer periods of time. Our football team came second in their league but are gunning to regain their title next year. Our supplementary activities have been an enormous success this year with our Annual Showcase, Black History Month celebration and annual parent-carer BBQ attracting record numbers. In February, our social action project raised over £1,000 for First Steps parent and toddler group. The group (which receives no funding and which was chosen by our service users) benefited from new toys and activities as a direct result of our adults designing and participating in a sponsored walk. Being active and responsible citizens includes engaging with social action and in so doing, our service users have demonstrated that they are not passive recipients of financial support but themselves agents in bringing about positive change within the lives of others.

The activities that the Charity offers not only enable people to live an active and varied life but are themselves vehicles for developing communication skills, enhancing independence, achieving physical fitness, providing socialisation opportunities, building life skills and engaging in positive risk taking. Take Marlon for example. Marlon has high levels of separation anxiety which can lead to behaviour that challenges, as well as a learning disability. The introduction of social stories, written with him and tailored to his needs have helped to reduce this anxiety so that he is able to participate more fully in his daily activities. He now recognises when he is becoming more anxious and has the confidence to ask to read his social story. This coupled with his independence at updating a visual register of who is present and who is absent is a significant step forward in Marlon learning how to self-regulate.

97% of our beneficiaries report that they are happy with the range and type of activities that we offer telling us "I like going to Brighter Horizons. I meet my girlfriend there. I like the people who come there. I like the activities at Brighter Horizons. I'm happy when I'm at Brighter Horizons". Our most popular activities are bowling, cooking and arts & crafts. 92% of service users report that they feel listened to and what they want is taken into account.

Our approach to developing "Skills for Life" leads to significant outcomes for people like Dominica and Janet. Dominica has always found social interaction hard and has found integrating into friendship groups challenging, instead hyper-focusing on 1 or 2 intense friendships. Now, for the first time, she sits, without support or prompting, with a wider friendship group at breaktime, not just on her own and this is transforming her mental wellbeing. Janet is in her 50's and has Down's Syndrome. She can now safely make a hot drink for herself and will proudly ask other people if they want one too. These might seem like small achievements to most people but to our beneficiaries and their families, they can be life changing.

Page 6

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 2025

The Trustees are pleased to report a 95% retention rate within the day service (an increase of 5% comparted to the previous year and 9% over the past two years), due to improvements in our needs assessment and the quality of the service on offer. The average attendance rate for the year was consistent with the previous two years at 81%, again showing consistently high satisfaction. There are no national benchmarks for day service provision, and the Trustees are committed to introducing quality marks through their work with ARC England and Learning Disability England.

In its employability work, the Charity provided grants of £32,800 to support 1,665 hours of supported employment, increasing the team to 7 employees. Ignition offers two pathways in brewing or bar work and the team are supported by dedicated supervisors to ensure their training, learning and safety. Take Rowan, for example, who has autism and finds interaction with people difficult. He is now able to initiate eye contact over the bar and, entirely without prompting, will clear tables and collect glasses within a busy taproom environment. These steps, seemingly small for most people are significant milestones which widen his prospects for long term employment, build his social skills and develop his confidence. The Trustees are seeking to invest further in this work by refining these pathways and aligning them with local employers. This work is in line with the London Borough of Lewisham's Learning Disabilities Implementation Plan, highlighting the alignment between the Charity's objectives and local need.

A key success this year has been to build a resilient in-house transport service which will underpin sustainable growth and the advancement of the Trustees other strategic aims. While this fulfils their first long term objective, they note that their short term objective of developing a long term fundraising strategy has not yet been met due to the operational pressures in growth and new service delivery.

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BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 2025

STRATEGIC REPORT

Financial review

The Charity's income for the year was £944,598 (2024: £787,736), against expenditure of £919,908 (2024: 717,555), leading to a surplus of £24,690. This reflects a 20% increase in income against a 28% increase in expenditure compared to the last financial period. The Charity has made a surplus for the fourth consecutive year, maintaining its strongest financial position since its inception in 2016.

The Trustees maintain a financial reserves policy of 3 - 4 months of operating costs with additional savings made to enable the delivery of their long term plans. The policy is reviewed annually each September and with a minimum level of £300,000 and a maximum level of £395,000, the balance carried forward reflects that this has been achieved. The Charity's unrestricted reserves at the end of the financial period were £337,827, of which £32,333 can only be realised through the disposal of tangible fixed assets. The Charity also holds £4,884 of restricted income. Consequently, the Trustees consider the Charity a going concern.

The Trustees consider continued investment in the Charity's unrestricted reserves to be the immediate financial priority in order to ensure that sufficient operating costs can be retained as the Charity continues to grow and their long term strategic aims are met. Specifically, the taking out of a new long term lease within the next 12 - 24 months to enable the Charity to relocate.

The Trustees note that the small surplus generated in this period is lower than in the preceding period. This is due to two things. Planned investment, increasing staffing levels which will enable growth over the next period. Secondly, the high costs associated with the delivery of the transport service recently acquired from the London Borough of Lewisham, with the planned changes to move away from external contractors and bring this service in-house being realised in January 2025. The financial impact of this is deferred to the next period.

Income is mainly generated through daily charges for all of the Charity's services with the majority resulting from direct payments administered directly by the London Borough of Lewisham. Other payments are received from the London Boroughs of Greenwich, Southwark and Bromley. A small number of service users administer their own direct payments or cover service charges themselves.

The Trustees retain and exercise their responsibility to assess the major risks to which the Charity is exposed, in particular those related to its finances and operations, and are satisfied that systems are in place to mitigate exposure to major risks. Additionally, the Trustees retain and exercise their responsibility for ensuring that the Charity has in place an appropriate system of controls, financial or otherwise, to provide reasonable assurance that the Charity is operating effectively and in line with Charity Commission guidelines.

To this end, an annual planning and budgeting process is in place and the Trustees have developed and implemented a risk management strategy. This strategy identifies significant risks, assesses the likelihood of occurrence and potential impact, acknowledges current mitigations and outlines any actions necessary to manage the risk further. The strategy covers key areas such as safeguarding, health and safety, data protection as well as issues relating to governance, financial loss and compliance.

The Trustees consider that the major risks to the Charity are as follows:

  1. The socio-economic landscape affecting social care and the budgetary pressures facing the Charity's primary funder which could lead to a reduction in funding. The Trustees consider the introduction of other new services and the development of a fundraising strategy in order to diversify income to be a priority.

  2. The capacity constraints associated with Downham Community Centre (Wesley Halls) and the limits that this places on opportunities for growth and the quality of care provided. The Trustees are mindful that expanding the Charity's impact through the continuing acceptance of referrals reduces the impact of financial loss, but this potential remains limited as the current building reaches capacity. The Trustees long term aims mitigate this risk both in terms of relocation, the opening of a second centre and developing weekend services which will increase both impact and access to funding by up to 40%.

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BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 2025

STRATEGIC REPORT

  1. The ending of the lease of premises from the London Borough of Lewisham of Downham Community Centre (Wesley Halls) planned for 2028, or unforeseen loss of access to the building in the interim. The Trustees have contingency plans in place for unforeseen loss of access and aspire to relocate the Charity's services for the betterment of its staff and beneficiaries as part of their long term aims.

  2. The potential for a significant data breach due to the paper based care planning systems currently employed. In the short term, the Trustees have sought specialist advice and are in the pro-cess of outsourcing IT support in order to improve cyber security while digital transition planning continues.

The Trustees continue to closely monitor the performance of the Charity's existing activities for further key risks and regularly review policies, procedures and strategies to ensure they are relevant, up to date and robust.

The Charity does not own and/or lease any land or property. Yet.

Plans for future periods

The Charity's long term objective is to increase the services it offers across southeast London for neurodivergent adults and people with learning disabilities. The Trustees consider that the Charity's specialism lies in community engagement and active participation and will use this as the basis for their 5-year strategic aims. Co-production lies at the heart of the Charity, being founded by families with lived experience, and the Trustees are committed to this approach in delivering its aims, recognising that such an approach will need a dedicated investment in time and other resources. The Charity's future plans include:

  1. Relocate its current day service provision to both secure the long term future of the Charity's flagship centre and to better integrate it within the wider community, in keeping with the Charity's mission.

  2. Expand its current weekday provision to provide co-productive services at weekends and evenings, in order to better meet the needs and aspirations of adults with learning disabilities in Lewisham and the wider area.

  3. Open an additional centre within southeast London with the aim of growing the Charity's beneficiaries by 60% and diversifying income to provide greater financial security.

  4. Develop a variety of employment pathways for adults with learning disabilities to receive training and be supported into sustainable move-on employment.

The Trustees recognise that continued work on the Charity's infrastructure is required to achieve these strategic aims and as such will continue to invest in expanding its staff team and upgrading its internal systems.

The Trustees expect that the Charity's turnover will exceed £1m in the next financial period and as such, aim to develop their governance structures by recruiting a Treasurer to oversee its financial procedures alongside establishing an appropriate number of sub-committees to support the work of the Charity as it continues to grow.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is a Charitable Incorporated Organisation whose only voting members are its Trustees. It is governed by its Foundation Constitution.

The Charity has six Trustees (members) who can serve no more than three terms and who convene at least four times per year. Each Trustee agrees to pay £1 in the event of the Charity being wound up.

The Trustees are responsible for governance, compliance, strategy, risk management, setting headline objectives and monitoring performance against these objectives. To this end, Trustees received regular updates, including full reports on activities and financial information on a quarterly basis. Business planning and strategic plans are discussed and agreed by the Trustees at Board meetings.

All Trustees give their time voluntarily and receive no benefits from the Charity.

Recruitment and appointment of new Trustees

New Trustees are appointed following a thorough recruitment process, with appointments decided by the existing Trustees. Recruitment is undertaken on a skills basis with skills and knowledge gaps amongst existing Trustees identified and sought out within new Trustees. No new Trustees were appointed during the financial period.

Page 9

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES

for the Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

To facilitate effective operations, the Trustees employ a Chief Executive Officer (CEO) to whom they have delegated authority for the operational matters of the Charity. The CEO leads the staff team and is responsible for service performance, staff recruitment and management, logistical

and operational matters relating to the day to day running of the business and the financial performance of the Charity. In addition, he has delegated responsibility for ensuring that the Charity remains compliant with legislation, funders, insurers, and other interested parties. The CEO utilises a leadership team of 6 managers and meets regularly with the Chair of Trustees.

The management of the Charity's trading subsidiary, Ignition Brewery, is delegated to 4 Directors, with the appointment of new Directors being the responsibility of the Trustees. The current Directors are the Chair of Trustees, Chief Executive Officer and an independent industry expert, with the fourth directorship currently vacant. The Trustees delegate the strategic planning and day to day management of the subsidiary to the Directors who are responsible for staff performance and management, compliance, financial performance and logistical and operational management. The Trustees retain responsibility for governance and risk management.

The Directors of the trading subsidiary receive no payment or other benefits in the performance of their role.

Induction and training of new Trustees

On appointment the Trustees sign a register of interests which is updated annually. At each meeting Trustees are asked to declare any conflicts of interest.Trustees' induction and ongoing involvement includes visits to the activities delivered by the Charity, meetings with Charity members, senior staff, and key external stakeholders. The Trustees also make available copies of the latest annual report and statement of accounts.

Related parties

Since its inception Brighter Horizons has enjoyed and appreciated a close relationship with The London Borough of Lewisham, its major funder and from whom most service user referrals are received. Brighter Horizons occupies its principal space under lease from Downham Community Centre (Wesley Halls) and views its location as being integral to providing services rooted in the local Downham community.

The Charity wholly owns and operates Ignition Brewery (Company No: 09736769) as a trading subsidiary operating out of 44a Sydenham Road, Sydenham, SE26 5QF. The trading subsidiary enjoys close support from staff at the Charity in order to support its wider mission of offering employment to adults with learning disabilities.

The Charity keeps and maintains a Trustees Register of Interests.

Management remuneration policy

The Chief Executive Officer (CEO) is appointed by the Trustees. Appointments at this level take into account the following factors:

All other staff are appointed by the CEO.

The Trustees retain and exercise their responsibility for setting pay for all employed posts. Pay is reviewed on an annual basis.

Equal opportunities

Brighter Horizons is committed to being an equal opportunities employer. The Charity is committed to ensuring that no job applicant or employee is discriminated against on the grounds of disability, race, religion, age, national origin, gender, sexual orientation, gender identity, gender expression or on any grounds which are unjustifiable in terms of equality of opportunity for all.

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BRIGIITER IIORIZOliS REPOk'f OF I"HE TRIISTLE for the l'ear Ended 31 .Mirch 21125 Rew)rt of the trustees, &ncorFofdiin di[￿lOr￿ on.............. a str8te8ic rerx)rL 8Mvoved b). order of the Ix)ard of tsuw &% the company Si8ned on the Fth's by: K l.¢e- Twsiee Pagell

Independeni examiner's report iothe trusrees of Brighter Horizons Cihe Companv,) I report io the charit! trustees on my ¢xamu)aiion of the a¢count5 of the Comydny forihe year ended 31 March 20?5. ResponsiTriliiies And ba515 of repcft As the chariTh S trustees of ihe Compan). {and abo its direetOTS for the pury)ses of compBn}' l&w) you &¢ r¢sFKM5ible for the preF4ration of the accounts in a¢¢ordance with the requiremtttts of the Compgmies Aa ?￿6 ('the 2(N)6 Ath). Having satisfied mNself thai the accounts of the Compan>. are noi required to be audited under Part 16 of the Aci and eligible for independeni examinallo]L l Rport in respeet of my ¢NamM￿lOn of l'our charity's att￿nts IS CArried out und¢r s￿lI0n 145 of the Charitkes Au ?01 I I'ihe ?01 l Ad.). In carr¥ing out MN. examinaiion I have followed the Diyeciicffis given by the Charity Commission ￿￿tr S¢eti¢m 145151 (b} of the 2011 Act. Independeni axaminer's statement Sinte your chwity's ￿0$S income exceeded £?50.IK>O your examiner must be o memE¢r of a lisied l or] confm thai l am qualified ro undenake the eKaminatson becaus¢ l am a member of the Institute of Chanered Accoun￿ England and Waltt. which is one of the listed bJdies. I have ¢omplffled my examinati(m. l ¢onfiTm that no mallets have c(xne to mv aitention ill connecrion with the examination 8Lvin8 me cause to ￿lieve. ounrlng recort8 ￿tre not kepi in respect of the Company &8 requir&1 by Se¢iion 386 of the 21KJ6 Aet; or th¢ ac¢ounts do noi a¢cord wilh those record5. or the accounts do not compl>. w'ith the a¢couniin8 tYquirem¢nts of Seaion 396 of the 2Tr)6 Ari other ihan any requirement that the accounts give a Ne and fair view which 15 not a matter considered as part of an indeF¢nd¢nt exarninaLi¢)n; or the accounts have been prepared in aeeordanc¢ with ihe methcds and ryineiple5 of the Stament of Recommended Practice for accwnting and rep)rring bi" chariries (applicable io charities preparing their o¢¢owNs in a¢¢ordance with the Financial Reporting Srandard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have Come a¢ross no oiher maiieys in connection Hith the examination to whi¢h att¢niion SI￿1]d be dTawm in this repon in c*der ro enable a prop¢r understsnding of the ac¢ounTS ro b¢ reached. Simon Milburn FCA The InsiiDJte ofchanered Accounthnts in England and Wales H & E JohnSQTt Chartered Accounwts Sandall House 230 High Stre Heme Bay Kent CT6 SAX Page 12

BRIGHTER HORIZONS

STATEMENT OF FINANCIAL ACTIVITIES

for the Year Ended 31 March 2025

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
938,424
Other trading activities
3
3,895
Investment income
4
2,279
Total
944,598
EXPENDITURE ON
Raising funds
5
150
Charitable activities
6
Care
919,348
Other
410
Total
919,908
NET INCOME
24,690
Transfers between funds
19
(964)
Net movement in funds
23,726
RECONCILIATION OF FUNDS
Total funds brought forward
314,101
TOTAL FUNDS CARRIED FORWARD
337,827		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
964
964
3,920
4,884		 2025
Total
funds
£
938,424
3,895
2,279
944,598
150
919,348
410
919,908
24,690
-
24,690
318,021
342,711		 2024
Total
funds
£
784,021
1,798
1,917
787,736
602
716,953
-
717,555
70,181
-
70,181
247,840
318,021

The notes form part of these financial statements

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BRIGHTER HORIZONS

BALANCE SHEET

31 March 2025

Unrestricted
fund
Notes
£
FIXED ASSETS
Intangible assets
13
1
Tangible assets
14
32,333
32,334
CURRENT ASSETS
Debtors
15
138,866
Cash at bank and in hand
212,434
351,300
CREDITORS
Amounts falling due within one year
16
(41,425)
NET CURRENT ASSETS
309,875
TOTAL ASSETS LESS CURRENT
LIABILITIES
342,209
CREDITORS
Amounts falling due after more than one year
17
(4,382)
NET ASSETS
337,827
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
-
-
-
-
4,884
4,884
-
4,884
4,884
-
4,884		 2025
Total
funds
£
1
32,333
32,334
138,866
217,318
356,184
(41,425)
314,759
347,093
(4,382)
342,711
337,827
4,884
342,711		 2024
Total
funds
£
334
12,112
12,446
133,304
216,085
349,389
(43,814)
305,575
318,021
-
318,021
314,101
3,920
318,021

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 14

BRIGIETER IIORIZOliS BALAh"CE SHELT- evntinued 31 ￿lIrth 2025 These fjnancial ststements have been pr¢￿ThJ in the rAovisions gpplicabk kn charitable companie5 subject to the 5mdl cornpanies re8irne. clai statements were aPr￿Ve￿ b) the Bowd of Trustees aTrJ &LthoristiJ for tssue on were Sig1￿ on its belLaif by: K Lee-'rtwstee Ihe Th)tes form part of thcse finarKial Page 15

BRIGHTER HORIZONS

CASH FLOW STATEMENT for the Year Ended 31 March 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest element of hire purchase payments
paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Capital repayments 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		 2025
£
18,487
(410)
18,077
(30,999)
2,279
(28,720)
11,876
11,876
1,233
216,085
217,318		 2024
£
26,067
-
26,067
(2,351)
1,917
(434)
-
-
25,633
190,452
216,085

The notes form part of these financial statements

Page 16

BRIGHTER HORIZONS

NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 March 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2025 2024
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 24,690 70,181
Adjustments for:
Depreciation charges 11,111 4,371
Interest received (2,279) (1,917)
Interest element of hire purchase and finance lease rental payments 410 -
Increase in debtors (5,562) (56,528)
(Decrease)/increase in creditors (9,883) 9,960
Net cash provided by operations 18,487 26,067
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24 Cash flow At 31.3.25
£ £ £
Net cash
Cash at bank and in hand 216,085 1,233 217,318
216,085 1,233 217,318
Debt
Finance leases - (11,876) (11,876)
- (11,876) (11,876)
Total 216,085 (10,643) 205,442

The notes form part of these financial statements

Page 17

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2025

1. 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.

Preparation of consolidated financial statements

The financial statements contain information about Brighter Horizons as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 25% on cost Motor vehicles - 25% on reducing balance Computer equipment - 25% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.

Page 18

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

2.
DONATIONS AND LEGACIES
Grants
Other voluntary income
Local authority funding
Service user funding
Grants received, included in the above, are as follows:
Other grants
3.
OTHER TRADING ACTIVITIES
Fundraising events
4.
INVESTMENT INCOME
Deposit account interest		 2025
£
3,000
495
891,242
43,687
938,424
2025
£
3,000
2025
£
3,895
2025
£
2,279		 2024
£
4,500
-
738,641
40,880
784,021
2024
£
4,500
2024
£
1,798
2024
£
1,917

Page 19

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

5. RAISING FUNDS

Raising donations and legacies

Raising donations and legacies
Fundraising expenses
6.
CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
Care
667,149
7.
GRANTS PAYABLE
Care
8.
SUPPORT COSTS
Management
£
Care
199,772
9.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Depreciation - assets on hire purchase contracts and finance leases
Other operating leases
Computer software amortisation		 2025
£
150
Grant
funding of
activities
Support
(see note
costs (see
7)
note 8)
£
£
32,800
219,399
2025
£
32,800
Governance
Finance
costs
£
£
291
19,336
2025
£
3,281
7,497
31,733
333		 2024
£
602
Totals
£
919,348
2024
£
-
Totals
£
219,399		 2024
£
-
2024
£
4,038
-
28,650
333

10. TRUSTEES' REMUNERATION AND BENEFITS

During the year under review, the charity paid Mr. B O'Keeffe, one of the trustees, £632 for the provision of coaching services (2024-Nil).

Trustees' expenses

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

Page 20

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

11. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Day service staff
Executive
Bank support staff
Transport		 2025
£
552,311
29,735
16,503
598,549
2025
18
3
5
1
27		 2024
£
431,031
25,735
10,859
467,625
2024
15
3
4
-
22

No employees received emoluments in excess of £60,000.

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
784,021
Other trading activities
1,798
Investment income
1,917
Total
787,736
EXPENDITURE ON
Raising funds
602
Charitable activities
Care
716,953
Total
717,555
NET INCOME
70,181
Transfers between funds
136
Net movement in funds
70,317
RECONCILIATION OF FUNDS
Total funds brought forward
243,784
TOTAL FUNDS CARRIED FORWARD
314,101		 Restricted
fund
£
-
-
-
-
-
-
-
-
(136)
(136)
4,056
3,920		 Total
funds
£
784,021
1,798
1,917
787,736
602
716,953
717,555
70,181
-
70,181
247,840
318,021

Page 21

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

13. INTANGIBLE FIXED ASSETS

INTANGIBLE FIXED ASSETS
Computer
software
£
COST
At 1 April 2024 and 31 March 2025 1,000
AMORTISATION
At 1 April 2024 666
Charge for year 333
At 31 March 2025 999
NET BOOK VALUE
At 31 March 2025 1
At 31 March 2024 334

14. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 April 2024
284
Additions
-
At 31 March 2025
284
DEPRECIATION
At 1 April 2024
257
Charge for year
7
At 31 March 2025
264
NET BOOK VALUE
At 31 March 2025
20
At 31 March 2024
27		 Motor
Computer
vehicles
equipment
Totals
£
£
£
63,874
13,113
77,271
29,989
1,010
30,999
93,863
14,123
108,270
55,347
9,555
65,159
9,629
1,142
10,778
64,976
10,697
75,937
28,887
3,426
32,333
8,527
3,558
12,112		 Totals
£
77,271
30,999
65,159
10,778
75,937
32,333
12,112

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

COST
Additions
DEPRECIATION
Charge for year
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Motor
vehicles
£
29,989
7,497
22,492
-

Page 22

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

  1. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Local authority funders
113,566
Amt owed by group undertaking
1,000
Staff advances
1,885
Prepayments and accrued income
21,975
Prepayments
440
138,866
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Hire purchase (see note 18)
7,494
Trade creditors
9,958
Social security and other taxes
9,497
Other creditors
3,086
Pension creditor
2,606
Net wages
(217)
Accrued expenses
9,001
41,425
17.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025
£
Hire purchase (see note 18)
4,382
18.
LEASING AGREEMENTS
Minimum lease payments under hire purchase fall due as follows:
2025
£
Gross obligations repayable:
Within one year
8,479
Between one and five years
4,956
13,435
Finance charges repayable:
Within one year
985
Between one and five years
574
1,559
Net obligations repayable:
Within one year
7,494
Between one and five years
4,382
11,876		 2024
£
116,164
1,000
2,601
13,175
364
133,304
2024
£
-
28,323
7,019
436
1,876
(100)
6,260
43,814
2024
£
-
2024
£
-
-
-
-
-
-
-
-
-

Page 23

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

19. MOVEMENT IN FUNDS

Net
movement
At 1.4.24
in funds
£
£
Unrestricted funds
General fund
314,101
24,690
Restricted funds
Service user fund
3,920
-
TOTAL FUNDS
318,021
24,690
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
944,598
TOTAL FUNDS
944,598
Comparatives for movement in funds
Net
movement
At 1.4.23
in funds
£
£
Unrestricted funds
General fund
243,784
70,181
Restricted funds
Service user fund
4,056
-
TOTAL FUNDS
247,840
70,181
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
787,736
TOTAL FUNDS
787,736		 Transfers
between
At
funds
31.3.25
£
£
(964)
337,827
964
4,884
-
342,711
Resources
Movement
expended
in funds
£
£
(919,908)
24,690
(919,908)
24,690
Transfers
between
At
funds
31.3.24
£
£
136
314,101
(136)
3,920
-
318,021
Resources
Movement
expended
in funds
£
£
(717,555)
70,181
(717,555)
70,181

Page 24

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Service user fund
TOTAL FUNDS		 At 1.4.23
£
243,784
4,056
247,840		 Net
movement
in funds
£
94,871
-
94,871		 Transfers
between
funds
£
(828)
828
-		 At
31.3.25
£
337,827
4,884
342,711

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,732,334 (1,637,463 ) 94,871
TOTAL FUNDS 1,732,334 (1,637,463 ) 94,871

20. RELATED PARTY DISCLOSURES

On 31 August 2023, the charity assumed the assets and liabilities of Ignition Brewery Limited no. 09736769 (England and Wales), a company limited by guarantee.At 31 March, 2025 the Net assets of the company amounted to £22,743 and the loss for the year was £22,374. The charity has advanced £1,000 to Ignition Brewery.

Page 25

BRIGHTER HORIZONS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2025

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 March 2025
INCOME AND ENDOWMENTS
Donations and legacies
Grants
Other voluntary income
Local authority funding
Service user funding
Other trading activities
Fundraising events
Investment income
Deposit account interest
Total incoming resources
EXPENDITURE
Raising donations and legacies
Fundraising expenses
Charitable activities
Wages
Social security
Pensions
Other operating leases
Health insurance
Travel & subsistence
Transport
Activities
Personal care
Motor expenses
Staff uniforms
Bursary support
Grants to institutions
Other
Hire purchase interest
Support costs
Management
Wages
Social security
Pensions
Telephone
Carried forward		 2025
£
3,000
495
891,242
43,687
938,424
3,895
2,279
944,598
150
437,582
17,635
11,939
31,733
2,896
2,284
90,218
58,199
713
14,907
(1,331)
374
32,800
699,949
410
114,729
12,100
4,564
1,125
132,518		 2024
£
4,500
-
738,641
40,880
784,021
1,798
1,917
787,736
602
350,031
17,067
8,134
28,650
2,166
1,387
85,255
48,652
446
12,004
4,900
-
-
558,692
-
81,000
8,668
2,725
994
93,387

This page does not form part of the statutory financial statements

Page 26

BRIGHTER HORIZONS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the Year Ended 31 March 2025

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 March 2025
Management
Brought forward
Postage and stationery
Advertising
Sundries
Office expenses
Computer expenses
Staff welfare
Insurance
Cleaning
Staff training
Licences & subscriptions
Bursaries
Computer software
Plant and machinery
Motor vehicles
Computer equipment
Finance
Bank charges
HMRC interest
Governance costs
Accountancy fees
Legal & professional fees
Total resources expended
Net income		 2025
£
132,518
3,608
1,633
542
4,479
9,166
386
7,117
2,251
24,105
2,856
-
333
7
9,629
1,142
199,772
291
-
291
3,960
15,376
19,336
919,908
24,690		 2024
£
93,387
1,501
3,199
619
766
8,982
828
5,183
3,964
7,159
1,279
401
333
10
2,842
1,186
131,639
304
235
539
4,320
21,763
26,083
717,555
70,181

This page does not form part of the statutory financial statements

Page 27