**Charity Number: 1197501** ## **BEE-PROLIFIC** **Annual Report and Unaudited Financial Statements** **for the financial year ended 31 December 2024** **Borasana Limited Chartered Certified Accountants 55 Jasmine Grove London SE20 8JY GB** **BEE-PROLIFIC** ## **CONTENTS** ||**Page**|**Page**| |---|---|---| |Reference and Administrative Information||3| |Trustees' Report||4| |Statement of Trustees' Responsibilities||5| |Statement of Financial Activities||6| |Balance Sheet||7| |Notes to the Financial Statements|8|- 10| **2** **BEE-PROLIFIC REFERENCE AND ADMINISTRATIVE INFORMATION** **Trustees Charity Number in England and Wales** ## **Auditors** Mr Michael O'Dwyer Mr Curtis Thompson Mr Ian Mensah-Stapleton 1197501 Borasana Limited Chartered Certified Accountants 55 Jasmine Grove London SE20 8JY GB **3** ## **BEE-PROLIFIC TRUSTEES' REPORT** for the financial year ended 31 December 2024 The trustees present their Trustees' Report and the unaudited financial statements for the financial year ended 31 December 2024. The financial statements are prepared in accordance with the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Trustees' Report contains the information required to be provided in the Trustees' Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees. In this report the trustees of BEE-PROLIFIC present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 December 2024. The charity is a registered charity and although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements. ## **Financial Review** The results for the financial year are set out on page 6 and additional notes are provided showing income and expenditure in greater detail. ## **Compliance with Sector-Wide Legislation and Standards** The charity engages pro-actively with legislation, standards and codes which are developed for the sector. BEE-PROLIFIC subscribes to and is compliant with the following: - The Charities SORP (FRS 102) **Approved by the Board of Trustees on 08/01/2026 and signed on its behalf by:** **________________________________Mr Curtis Thompson** **4** ## **BEE-PROLIFIC STATEMENT OF TRUSTEES' RESPONSIBILITIES** for the financial year ended 31 December 2024 The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the assets, liabilities and financial position of the charity as at the financial year end date and of the surplus or deficit of the charity and otherwise comply with the Charities Act 2011. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently; - make judgements and accounting estimates that are reasonable and prudent; - state whether the financial statements have been prepared in accordance with applicable accounting standards, identify those standards, and note the effect and the reasons for any material departure from those standards; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees confirm that they have complied with the above requirements in preparing the financial statements. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. **Approved by the Board of Trustees on 08/01/2026 and signed on its behalf by:** **________________________________Mr Curtis Thompson Trustee** **5** **BEE-PROLIFIC STATEMENT OF FINANCIAL ACTIVITIES** for the financial year ended 31 December 2024 |||**Unrestricted**|**Total**|Unrestricted|Total| |---|---|---|---|---|---| |||**Funds**|**Funds**|Funds|Funds| |||**2024**|**2024**|2023|2023| ||**Notes**|**£**|**£**|£|£| |**Income**|||||| |Donations and legacies|**4.1**|**800**|**800**|800|800| |||───────|───────|───────|───────| |**Expenditure**|||||| |Charitable activities|**5.1**|**800**|**800**|800|800| |||───────|───────|───────|───────| |**Net income/(expenditure)**||**-**|**-**|-|-| |Transfers between funds||**-**|**-**|-|-| |||───────|───────|───────|───────| |||───────|───────|───────|───────| |**Total funds at the end of the year**||**-**|**-**|-|-| |||═══════|═══════|═══════|═══════| The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities. The notes on pages 8 to 10 form part of the financial statements **6** **BEE-PROLIFIC BALANCE SHEET** as at 31 December 2024 |||**2024**|2023| |---|---|---|---| ||**Notes**|**£**|£| |**Funds**|||| |**Total funds**||**-**|-| |||═══════|═══════| The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", applying Section 1A of that Standard. ## **Approved by the Board of Trustees and authorised for issue on 08/01/2026 and signed on its behalf by** **________________________________Mr Curtis Thompson Trustee** The notes on pages 8 to 10 form part of the financial statements **7** **BEE-PROLIFIC NOTES TO THE FINANCIAL STATEMENTS** for the financial year ended 31 December 2024 ## **1. GENERAL INFORMATION** BEE-PROLIFIC is a charity incorporated in the United Kingdom. The registered office of the charity is 67-69 Sutherland Road, London, E17 6BH, United Kingdom which is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity. ## **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements. ## **Basis of preparation** The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard. As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. ## **Statement of compliance** The financial statements of the charity for the financial year ended 31 December 2024 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard. ## **Fund accounting** The following are the categories of funds maintained: ## **Restricted funds** Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity. ## **Unrestricted funds** Unrestricted funds consist of General and Designated funds. - General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity. - Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund. ## **Income** Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity. ## **Income from charitable activities** Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors. Grants from governments and other co-funders typically include one of the following types of conditions: - Performance based conditions: whereby the charity is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor, as income. -Time based conditions: whereby the charity is contractually entitled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within **8** continued ## **BEE-PROLIFIC NOTES TO THE FINANCIAL STATEMENTS** for the financial year ended 31 December 2024 the period specified in the agreement. In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entitlement. Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable, whichever is earlier. ## **Expenditure** Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity. ## **Taxation and deferred taxation** No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the charity's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. ## **3. PROVISIONS AVAILABLE FOR AUDITS OF SMALL ENTITIES** In common with many other charity of our size and nature, we use our auditors to assist with the preparation of the financial statements. |**4.**|**INCOME**|||||| |---|---|---|---|---|---|---| |**4.1**|**DONATIONS AND LEGACIES**||**Unrestricted**|**Restricted**|**2024**|2023| ||||**Funds**|**Funds**||| ||||**£**|**£**|**£**|£| ||Donations and legacies||**800**|**-**|**800**|800| ||||═══════|═══════|═══════|═══════| |**5.**|**EXPENDITURE**|||||| |**5.1**|**CHARITABLE ACTIVITIES**|**Direct**|**Other**|**Support**|**2024**|2023| |||**Costs**|**Costs**|**Costs**||| |||**£**|**£**|**£**|**£**|£| ||Governance Costs (Note 5.2)|**-**|**-**|**800**|**800**|800| |||═══════|═══════|═══════|═══════|═══════| |**5.2**|**GOVERNANCE COSTS**|**Direct**|**Other**|**Support**|**2024**|2023| |||**Costs**|**Costs**|**Costs**||| |||**£**|**£**|**£**|**£**|£| ||Charitable activities - governance|**-**|**-**|**800**|**800**|800| ||costs|||||| |||═══════|═══════|═══════|═══════|═══════| |**5.3**|**SUPPORT COSTS**|||**Governance**|**2024**|2023| |||||**Costs**||| |||||**£**|**£**|£| ||Support|||**800**|**800**|800| |||||═══════|═══════|═══════| **9** continued **BEE-PROLIFIC NOTES TO THE FINANCIAL STATEMENTS** for the financial year ended 31 December 2024 |**6.**|**ANALYSIS OF SUPPORT COSTS**||| |---|---|---|---| |||**2024**|2023| |||**£**|£| ||Support|**800**|800| |||═══════|═══════| |**7.**|**POST-BALANCE SHEET EVENTS**||| There have been no significant events affecting the Charity since the financial year-end. **10**