Annual Report Beacon Centre for the Blind 2024-2025 CELEBRATING 150 YEARS OF SIGHT LOSS SUPPORT è'..'j lJl' Beacon
Contents About Beacon 25_28 Independent Auditor's Report on the Financial Statements Beacon's Vision Our Team 29 statement of Financial Activities Chair Message 30-31 Consolidated Balance Sheet 32-33 Charity Balance Sheet Consolidated Statement of Cash Flows Our Services 9-10 Building Independence Building Awareness 34 11 12 Building Resilience 35_60 Notes to the Financial statement 13 Thankyou 14 Building Resilience 15-16 Building Partnerships 17 strategic Aims 18 150th Birthday 19_23 strategic and Structural Governance Trustee Statement of Responsibilities 24
About Beacon Whowe are Beacon's mission is to create a more inclusive society for visually impaired people by empowering individuals with sight loss and breaking down barriers through innovation and collaboration. From helping people build independent living skills and providing employment support, to offering digital training and social activities, we are here to help people live life to the fullest. We're also helping to shape a world that's more inclusive and accessible for everyone through our strategic work with key organisations to improve the health and social care sector, as well as access to employment and skills opportunities. Company information Company number: 00710129 Charity number: 216092 T: 01902 880111 E.. enquiries@beaconvision.org W.. www.beaconvision.org Company secretary: Debbie Fox Auditors: Crowe UK LLP Bankers.. Natwest Investment Managers.. JM Finn & Co Ltd Beacon in numbers 177,000 pre-loved items sold 108.500 customers in our shops 45.000 listens to our Talking Newsi'.I 3.328 hours of befriending calls .540 attendances at our health and wellbeing activities 1,169 training courses completed 541 referrals 198 volunteers 89 staff One national award You can keep up to date with our latest news, events, and stories by following Beacon on social media. Facebook: @Beaconcentre Instagram: @Beaconvision Linkedln: @Beacon Centre for the Blind This report is available in a range of alternative formats to ensure accessibility for all.
OUR VALUES: WE ARE APPROACHABLE Our staff are available through drop-ins, community events, and digital platforms to ensure no one feels alone. Beacon WE ARE COMPASSIONATE We provide tailored support recognising each individual's challenges and goals. Our Vision WE ARE INNOVATIVE A society where individuals value and protect their sight and where visual impairment does not limit or determine opportunity. We develop new services to better meet the changing needs of our community. WE ARE PROFESSIONAL Our Mission We uphold high standards in all interactions, ensuring reliability, integrity, and respect in every service we provide. Our mission is to support visually impaired people and promote eye health. We inspire, support, and provide appropriate care that nurtures people's independence, ambitions, and achievement. We educate all about the importance of looking after their eyes and highlight the impact of sight loss.
Our Senior Leadership Team during the 202412025 financial year consisted of: Chief Executive Lisa Cowley Lisa oversees Beacon's services, championing new approaches and building partnerships to strengthen the charity. With a focus on delivering high-quality support, she drives strategic initiatives that improve outcomes for the communities we serve. Lisa is passionote about fostering collaboration, inspiring staff, and ensuring that Beacon remains responsive, inclusive, and forward- thinking in all its work. Head of Health and Wellbeing: Becky Green With a career devoted to the charity sector, Becky has focused on providing care, support, and wellbeing to our beneficiaries. Head of Systems and Infrastructure: Victoria Wilcox Victoria's leadership ensures the charity operates efficiently and that its resources are used to their fullest to support people living with sight loss. Head of Impact and External Income: Helen Brown Overseeing fundraising, marketing, grants, legacies, trusts, and contracts, Helen ensures Beacon measures and monitors its impact. Head of People and Governance: Debbie Fox Beacon depends on Debbie to manage HR for its staff and also to oversee volunteer management, fostering a supportive and positive workplace for all. Head of Finance: Alexandria Smith-Edwards Alexandria is responsible for the charity's finances, ensuring smooth processing of invoices and effective oversight of all budgets. Health and Wellbeing Director: Jan Burns MBE. Jan left her position in March 2025 after10 years of service to the charity. We thank her for her dedication.
I I Each year, we ask our staff to share their views through our wellbeing survey, helping us understand what we're doing well and where we can improve. The latest results reflect the passion, pride, and commitment that runs through our team, with overwhelmingly positive feedback. We use these insights to shape initiatives that support our people, foster a positive workplace culture, and ensure everyone feels valued and heard. staff Survey Results IO0% would recommend Beacon as a good place to work. IO0% felt that Beacon is successfully supporting people. IO0% are proud to work for Beacon. 97% feel comfortable contributing ideas about how our services could improve. Our Trustees and Volunteers At the heart of Beacon's leadership are our trustees. Our Chair, Kathy Roper, uses her lived experience of sight loss to lead with clarity, passion, and determination to improve the lives of those impacted by visual impairment. Also serving on our trustee board during this period were Phil Turner, lan Bowers (resigned February 2025), Jeanette Suwe, Sharon Phillips, Karen Scott, Beth Wynn-williams, Richard Ennis. and Clive Small. During this year, 49 new volunteers joined us, bringing our total number of volunteers to198. Whether driving and guiding, chatting and cheering, or lending their skills across15 different roles in multiple locations, they bring energy, compassion, and commitment in abundance. Quite simply, we couldn't do what we do without them.
Chair message This year has marked an extraordinary milestone for Beacon as we launched our150th anniversary. Since1875, we have stood alongside people impacted by sight loss, helping them to build skills, confidence, and independence. Today, we honour that legacy while looking firmly to the future. A defining achievement of 2024125 has been the development and launch of our five-year strategy, Bigger. Bolder. Brighter. Created in partnership with staff, volunteers, members, and stakeholders, it sets out four clear priorities: making eye health a priority for all, ensuring accessible health pathways, promoting inclusivity, and building strong, collaborative systems for our communities. These goals are now embedded in our Annual Operating Plan, guiding everything we do and holding us accountable for our impact. Partnership working has been at the heart of our progress. This year, we have strengthened relationships with a range of organisations, while leading system-wide initiatives that deliver real change. Our national award-winning Sharing the Vision project has united NHS, social care, and voluntary sector partners to improve services, from job shadowing programmes to practical hospital improvements such as colour contrasting crockery for visually impaired patients. Our leadership in the voluntary sector has led to better outcomes for thousands of people in our region. As lead facilitator for Dudley Talking Therapies Plus and Wider Determinants of Health programmes, both of which launched during this year, we have now helped support more than 4,000 people respectively. We hove also delivered employment, training, and skills opportunities for 174 people, befriending and wellbeing support for 202 people, provided vital updates for up to 45,000 people through our weekly Talking News service, dealt with 541 referrals for advice, information, or support, and provided hundreds of lifestyle activities for111 people.
Chair Message Each number represents a person whose life has been touched by our work, and each is a reminder of why we exist. Innovation has been a theme of the year. We launched a new accessible website to make it easier for people to find support, provided external charity finance services, and developed a bespoke leadership programme for the health and social care sector. These initiatives not only strengthen Beacon but also build the capacity of our partner charities, securing hundreds of thousands of pounds in inward investment. It has also enabled us to diversify our income streams to strengthen resilience in a challenging market, a reflection of our careful management and proactive approach. We would like to thank everyone who has helped to make this year a success: our funders, supporters, volunteers, and partners, including the many people who have shopped in our stores, donated items, or contributed financially. Your generosity and commitment enable us to deliver vital services, innovate for the future, and ensure that people living with sight loss can lead fuller, more independent lives. We would like to pay special thanks to the Mayor of Wolverhampton during this year, Councillor Linda Leach, who chose Beacon as one of her charities of the year and has proved a tireless fundraiser for our cause. As we celebrate150 years, we do so with gratitude for all who make our work possible, our staff, volunteers, and of course our amazing beneficiaries, and with a renewed determination to be bigger in our ambition, bolder in our actions, and brighter in our impact. The next chapter of Beacon's story is already being written and together, we will ensure it changes lives for the better. Beacon Chair of Trustees
This year, Beacon has delivered a wide range of services that empower people with sight loss to live well, stay connected, and feel confident. From centre- based activities to community outreach, care, transport, and befriending, every service is shaped by those who use it and supported by our dedicated stoff and volunteers. Lifestyle Activities Our Lifestyle Day Centre and community activities offer safe, welcoming spaces for friendship, fun, and skill-building. We ran 170 day centre sessions and 299 community sessions, with over1,500 attendances. Our gym hosted 190 sessions, supporting members to stay active and independent. Feedback tells us these services boost confidence and self-esteem. One member told us her days ot our Lifestyle Centre have "benefited from making new friends." Engagement and Referrals The 541 new referrals received this year included self-referrals and those from NHS and local authority partners. Our engagement team made 272 onward referrals within our chority and externally to ensure people access the right support at the right time. A key focus of the Engagement Team's work is helping people access low vision aids and adaptations. Learning Team Our Learning Team provides the only specialist support of its kind in the region to help people gain new skills and access volunteering, employment and training opportunities. The team helps those looking for education, training, or volunteer opportunities or to get into or stay in work. One beneficiary told us:"The support given made a huge difference to what I was able to do and I returned to work, using the adjustments shown to me. Being able to return to work had such a positive impact on my mental health, and l am so grateful for the help of Beacon."
rse rai Talking News Each week, 120 audio CDS go to some of the most isolated people in our community, keeping them informed and connected, and over the year, it received around 45,000 digital listens. Care and Transport We delivered over18,199 hours of care and drove19,610 miles to help members get to appointments, activities, and social events. Befriending support With 3,328 hours of calls and 1,352 hours of home visits, our volunteers reduce loneliness and bring companionship to members aged 37 to100. Strategic work Alongside our direct services, Beacon plays a leading role in shaping the wider health and core system. As lead provider on the Wider Determinants of Health project, we have enabled voluntary sector partners to support more than 3,800 people to date. We also deliver the Dudley Talking Therapies counselling service, which has handled almost 300 referrals over the course of the project, ensuring timely emotional support. Our impact In our most recent survey of beneficiaries of our Lifestyle Service, IOO°A of respondents told us they enjoy being part of Beacon, felt empowered to be more independent and confident, that they had a person-centred support plan, and that they are provided with a service that meets their needs and goals. "We go out for meals, which is fun. I really enjoythe socialising in the lounge and I'm starting to get into my cooking."
encp Building independence is at the heart of everything we do. Our services are designed to help people with sight loss gain the skills, confidence, and opportunities they need to live life on their own terms. Through our learning programmes, we support people to develop employment skills, build digital confidence and take steps into work or training. During this year, the team helped 124 people improve their digital skills and 54 people into employment, education, or training. Our Engagement Team carries out detailed assessments so individuals better understand their own needs and how to meet them, whether that means accessing low vision equipment, or taking part in health and wellbeing activities that support independence. They delivered sight loss awareness training to a range of organisations, from a local Chamber of Commerce to voluntary sector groups. They raise awareness of how others can enable independence through school workshops, and assemblies and at community occasions including Vaisakhi celebrations, sight loss drop- in sessions, roadshows, craft fairs, and business networking sessions. The team attended more than 20 such events during the year. Case Study When S came to Beacon, they wanted part-timework to improve their finances but faced several barrlers - worries about benefits, limited dlgital skills, and concerns aboutcommuting wlth sight loss. We offered tailored support. creating a CV. provlding IT training so S could apply for jobs online. and helplng them secure Access to Work funding lor taxis. Withthesg supports in place, S secured a part-time hospitallty role. With Beacon's guldanceand support, S not only secured employment but also galned the confidence to navigate the workforce despite their visual impairment. They now have an additional source of income. providing them with greater financial security and independence.
Idip Transport is another key enabler, helping people overcome one of the biggest barriers to participation by getting them safely into their community. During the year, our transport team received 1,245 passenger bookings and completed 19,610 miles connecting people with sight loss to their local community across the Black Country and South Staffordshire. Our Social Care services provide tailored support that allows people to remain in their own homes for longer. Tfte staff are cheerful. friendly, and helpful. There is a great atmosphere. people to talk to and activities to enjoy. Independence also shines through our health and wellbeing sessions, from swimming to practical life skills such as our sight-friendly cookery classes. With the launch of our hub and spoke model, we are reaching deeper into communities, creating new groups across the Dudley borough so people can access support closer to home. Those who are housebound are able to stay connected through our Talking News Service, which is sent out to120 of the most vulnerable homes on CD each week and receives around 50,000 digital listens a year. Every service, whether it's advice and guidance, digital training, or simply enabling someone to travel independently, is part of the same goal: giving people the tools, confidence, and support they need to live as independently as possible. 10
This year, we made significant strides in achieving our aim of building awareness about the needs and potential of people with sight loss. A major milestone was the launch of our new website, designed with accessibility at the forefront, ensuring that everyone, regardless of visual ability, can easily access our services and information. We also proudly hosted our first event as part of the West Midlands Business Festival, focused on making businesses more accessible for disabled people. Our work reached a wider audience through extensive media coverage, spanning national platforms such as the BBC App as well as local newspapers and radio, helping to shine a spotlight on our activities and advocacy work. We welcomed our first Communications team member with sight loss through the Thomas Pocklington Trust paid internship scheme. During the year, he shadowed external organisations, including the City of Wolverhampton Council, and received valuable support from local PR company Osborn Communications, gaining hands-on experience and insight into advocacy and sector communications. We also extended our reach through the wider sight loss sector by delivering two workshops at Visionary Conference, sharing best practice and inspiring others to champion accessibility in their organisations. We had a record-breaking year for our annual Bright For Sight campaign, which highlights the importance of bright colours and good contrast to help you make the most of your sight. It raised over £1,300 and reached 3,000+ people through schools and community groups. Our charity shops have been transformed into hubs for eye health information, with more than 25 staff and volunteers trained in sight loss awareness and accessibility, and the launch of our first-ever eye health awareness campaign through our retail division, which included eye health messages being printed on our clothing tags. We've also expanded our reach online through an eye health social media campaign on topics like screen strain, nutrition, and lighting, which engaged more than 15,000 people and directly led to support enquiries. 11
i? Il At Beacon, we continue to strengthen our financial stability, grow our capabilities, and adapt to changing needs, ensuring we can deliver vital services now and in the future. Colour Run 2024 Over 230 runners took part, raising over £3,000 net, while engaging new supporters in a community awareness event. Forget Me Not Service Our most successful yet, raising over £2,600 through a heartfelt remembrance campaign. Santa Run 2024 Despite storm disruption leading us to postpone our original event in early December, our rearranged January run was a triumph: £4,972 net raised, over 160 runners (plus dogs!), and a fantastic community atmosphere to kick off the new year in festive style. Grants & Community Support Ongoing investment from the National Lottery Community Fund is supporting our engagement team to reach new groups in need of support. We have successfully completed year two of our project, and in the coming year, we will expand our programme to support more children and young people. Shared Prosperity Fund grants from local councils enabled us to continue supporting people into work, training, and skills development across three local authority areas. We were delighted to receive funding from Fight for Sight this year to provide a project to tackle loneliness and isolation through physical health interventions in partnership with the Wolves Foundation. Funding from the Thomas Pocklington Trust enabled us to continue supporting blind and partially sighted people in the workplace through their paid internship programme. 12
National Lottery Community Fund Black Country ICB Thomas Pocklington Trust City of Wolverhampton Council Dudley Council Black Country Healthcare NHS Trust Tipton and Coseley Building Society Anthony and Gwendoline Wylde Memorial Charity HubBubs to our 202412025 grant funders Fight for Sight One Stop Shop National Grid Wolverhampton Community Voluntary Action Baron Davenport Trust Good Things Foundation Sandwell Council British Science Association Thomas Dudley 13
Our retail operations remain a cornerstone of Beacon's sustainability, generating vital income, reducing waste, and strengthening our presence in local communities. £692,514 generated through donated goods. 177,000+ items found new homes, saving 176,941 items from landfill. 8.5 tons of scrap metal recycled by our stores, raising funds while supporting sustainability. 108,500 customers welcomed across our shops across the region. This year saw exciting developments across our retail portfolio. We opened two new shops, each with a unique concept.. Wednesfield Clearance Shop: A treasure trove of bargains, offering up to 50 /. off donated stock. Pattingham Boutique". A curated haven for high-quality, handpicked donations, designed to offer something special for discerning shoppers, This concept store is already setting itself apart and demonstrating how Beacon can adapt to changing shopping trends while showcasing the best of donated goods. Beyond retail, our facilities generated £4,837 through 62 conference bookings, with repeat customers including Cygnet Health Care, Dudley Voices for Choices, Octopus Energy, The What Centre, and BCAP. We also installed one of the region's largest solar panel installations. The amount of energy we have produced from their installation has reduced deforestation by more than 7,000 trees. 14
Building Partnerships Partnership working is central to everything we do at Beacon. It enables us to extend our reach, strengthen referral pathways, and ensure people with sight loss are better supported across all areas of life. Over the past year, we have continued to build strong collaborations with health, social care, voluntary sector, and community partners, A highlight of this work has been our Sharing the Vision project, which achieved national recognition and now operates across all areas of the Black Country. Our Wider Determinants of Health Project, which is a pioneering initiative funded by Black Country Healthcare NHS Foundation Trust, brings together a diverse network of local organisations to improve the health and wellbeing of the Dudley community. During this year, the project ran almost 500 groups and delivered more than 6,500 interventions. We also delivered a self-care event at Beacon, where our voluntary sector partners were able to showcase their services to the community. Sharing the Vision- 2024 Visionary Award Winner Our Sharing the Vision Project brings together professionals from across the sight loss sector to ensure the best outcomes for everyone wlth a visual impalrment. As partofthis programme, we established shadowlng opportunlties between our staff and Dudley ROVI services. creating space for shared learning and closer collaboration. Building on this success. plans are undenmaytodevelopa blueprintforthe project to be rolled out on a natio basis.
ui I., Our commitment to partnership extends across many areas of community life. Working with Chadd, we have continued to make domestic abuse support more accessible for people with sight loss, ensuring inclusive pathways to safety and care. In partnership with our local Integrated Core Board (Ic8), we have delivered specialist training to 25 GP surgeries, equipping primary care teams with the skills and understanding needed to support patients living with sight loss. We regularly host Occupational Therapy (OT) students on placement, giving them practical experience while strengthening our links with local services. The students work with our Lifestyle and Care teams, supporting activities and carrying out assessments to suggest ways of improving mobility and independence, giving them direct experience of engaging with people in need of support. Thanks to our partnerships, we also offer broader opportunities to our students, including the chance to spend time with local Rehabilitation Officers (ROVIS). This collaborative approach enriched the students, learning while bringing added benefits to the people who use our services, showing how Beacon's partnerships create value for all involved. Our Healthy Communities Together programme has brought together VCSE, Local Authorities, and NHS to explore new ways to collaborate and increase health equity. Through the programme, we have facilitated over £IOO,000 worth of pilot health equity programmes across the borough, supporting a range of organisations to expand their reach and impact. We have increased health equity and community engagement for specific conditions, including cancer treatment and screening, eye health, and stroke. We have also acted as a strategic partner in relation to digital accessibility, increasing access to the NHS App. The project has also enabled us to deliver leadership programmes for the health and social care leaders of tomorrow. Through this work, we have improved services, influenced the health and social care system, and secured funding to ensure support is accessible and joined-up. 16
rg Aim This year, as Beacon celebrated 150 years of supporting people with sight loss, we took the opportunity to look ahead and set our course for the next chapter. The result is our new five-year strategy, Bigger, Bolder, Brighter, a plan that builds on our proud history while driving fresh ambition for the future. Our strategy is more than a list of goals. It's a framework for action that keeps us focused on our mission. It sets out what we want to achieve, how we'll get there, and how we'll measure our success. We have listened closely to people with lived experience, including many of our own staff, beneficiaries, and volunteers, to ensure the voices of those we serve are at the heart of every decision for our charity. This collaborative approach has shaped our priorities for 2025-2030: Eye Health as a Priority for All Accessible Health Pathways Inclusivity for All A System for Our Communities These priorities align with our four aims from our outgoing strategy, Building Independence, Building Resilience, Building Partnerships, and Raising Awareness, which have guided our work in recent years. We will monitor our progress against them through our Annual Operating Plan, which is regularly reviewed by our Senior Leadership Team and Board of Trustees. This ensures we remain accountable and can adapt our approach as needs and opportunities evolve, and ensures we stay focused on delivering real impact for the 40,000 plus people living with sight loss across the Black Country and South Staffordshire. 17
In 2025, Beacon has celebrated a remarkable milestone,150 years of supporting people with sight loss. From our beginnings in1875, when braille classes were first offered to local people, to our role today as an innovator in health and social care, we have always placed the needs of blind and partially sighted people at the heart of all we do. Braille remains one of our most popular services, and over the past year, we have delivered 16 sessions, continuing the tradition of empowering people through access to information and learning. We are also proud to have been pioneers in retail. In1899, Beacon opened one of the UK'S first charity shops, helping to generate income while engaging the local community in new ways. That same spirit of innovation runs through everything we do today, from creating accessible pathways into employment to leading collaborative projects that improve the health and wellbeing of thousands across the Black Country. The need for our work has never been greater. Currently, around 37,000 people in the Black Country are living with sight loss, a number expected to rise to 42,000 by 2032. In South Staffordshire, there are 4,790 people living with sight loss, a number set to rise to 5,740 by 2032. This growing demand underscores the importance of Beacon's services and partnerships as we look to the future. We are proud to receive recognition from across the country for our anniversary. Labour Party politician and the first blind cabinet minister, Lord David Blunkett, shared his congratulations: "Congratulations to the Beacon Centre for the Blind on150 years of support and outreach to thousands of blind and partially sighted men and women. I was very pleased, some years ago, to be able to visit and learn more about the work at the centre. The late, and much lamented, Dennis Turner- who was one of Wolverhampton's Members of Parliament - was a great advocate for Beacon and for those with sight loss. His legacy, and the legacy of Beacon, continues to shine brightly." As we mark this milestone, we also look forward with determination, building on our proud history to meet the growing challenges ahead. 18
Strategic Governance Governing documentation Beacon Centre for the Blind is a charitable company limited by guarantee. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £5. Recruitment and appointment of trustees The charity is administered by the Board of Trustees, which may comprise of up to 15 members. The directors of the company are also charity trustees for the purposes of charity law. The first term for a trustee is one year,. they can then serve two consecutive three-year terms. The charity's work focuses upon blind and partially sighted people first and foremost, but also work with people with other disabilities where appropriate. The Board of Trustees seeks to ensure that the needs of the visually impaired are appropriately reflected through the diversity of the trustee body. Beacon's articles recommend that as far as possible a minimum of 20% of the trustees should be visually impaired. The more traditional business skills are well represented on the board and, in the event of particular skills being lost through retirement, individuals who fit into the trustees, skills matrix are approached to offer themselves for election to the board. Trustee induction and training New trustees undergo an induction process to brief them on their legal obligations under charity and company law, the content of the Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. During this process they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. 19
Strategic Governance Structure and management The board meets at least four times a year and there are sub-committees chaired by various trustees and including the relevant directors. They cover finance and general purposes and charity operations, which meet regularly and submit reports to the main trustee body. The remuneration committee meets annually and additionally as required, and reports to the board through the finance and general purposes committee. The sub-committee structure has forged stronger links between trustees and managers and enables a greater understanding of the day-to-day work of the charity by the trustees. A Chief Executive Officer ("CEO") is appointed by the trustees to manage the operations of the charity. To facilitate effective operations, the CEO is responsible for ensuring that the charity delivers the services specified and that financial targets are met. The remuneration committee, on which only trustees have voting powers, recommends the remuneration of the CEO, key management personnel and the whole staff of the charity which is agreed by the Trustee Board. Responsibilities of the Trustees Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that year. In preparing those financial statements, the trustees are required to: .Select suitable accounting policies and then apply them consistently. .Make judgements and estimates that are reasonable and prudent. .state whether applicable accounting standards and statements of recommended practice have been followed and give details of any departures. .Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis. In line with its Articles of Association, the Beacon Centre provides trustees with 'Trustees and Individual Liability, insurance cover up to £lmillion. The trustees are responsible for ensuring that Beacon Centre has appropriate systems of controls, financial and otherwise. They are also responsible for keeping proper accounting records which 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 Companies Act 2006. 20
Strategic Governance Responsibilities of the Trustees continued 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, and to provide reasonable assurance that: .The charity is operating efficiently and effectively. .Its assets are safeguarded against unauthorised use or disposition. .Proper records are maintained and financial information used within the charity or for its publication is reliable. .The charity complies with relevant laws and regulations. Financial Information In the year to 31 March 2025, the charity operated a deficit of £492,000 before investment gains/iosses (2024.. £291k deficit). After investment losses, the net deficit is £565,000 (2024.. £181k deficit). Investment income in the year is in line with the prior year. Income was £80,000 higher than the previous year, there was movement in income strands with strong performance in grants ond trusts and new sources of contractual income. The chority has one wholly owned subsidiaries Beacon Enterprise Ltd, which carries out all other non-charitable trading in order to generate income to support the parent charity. Risk Management The Trustees have a formal risk management process to assess risks to the charity and its subsidiaries and implement risk management strategies. This involves identifying the type of risks the charity faces, prioritising them in terms of potential impact and likelihood of occurrence and identifying means of mitigating the risks. As part of this process the trustees have reviewed the adequacy of the charity's internal control systems and consider that they conform to guidelines issued by the Charity Commission. A risk register is maintained on an ongoing basis and is reviewed at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Particular attention has been focused on both financial and non-financial risks arising from fire, health, safety, care, and wellbeing of vulnerable of residents and service users. 21
strategic Governance Risk Management continued A key element in the management of financial risk is the setting of the reserves policy and its regular review by trustees. The principal risks identified were workforce capacity and availability, consequent inability to deliver services and the operating model not being appropriate, also failure to meet budgeted performance. To mitigate against the workforce capacity risks the management have developed and monitored training matrices to ensure availability of skills and introduced a reward scheme for employees successfully introducing applicants for available positions. The charity has engaged with new groups of visually impaired people to ensure our services are relevant and effective. The board plans has reviewed the charity's compliance with the Charity Commission's Governance Code throughout the year. Investment policy Funds that are surplus to immediate needs have been invested in accordance with the powers available to the trustees. The current Investment Policy is to invest, via professional managers, in funds which are specifically tailored to the needs of a charity, to produce a sustainable income flow to support Beacon Centre's charitable activities whilst limiting the risk to capital values. The charity does not invest directly in alcohol or tobacco related products due to the potential impact of these products on sight loss. During the year, the portfolio returned an income, net of fees, of 2.5 /.. Total return, including gainlioss of revaluation and net of fees, was a £4,000 deficit which was 0.1 % of average portfolio value. The investment manager works towards a target income return of 3% agreed with the Board of Trustees. During the year, the portfolio depreciated by 2.51. during the year. Total return, including gainlioss of revaluation and net of fees, was £29,000. The charity held a programme related investment of £5,000 (net of impairment) in Conigital Ltd, which was developing accessible systems for autonomous vehicles, this was dissolved during the year. 22
Structural Governance Reserves policy The Beacon Centre for the Blind's reserves policy is reviewed by the Board of Trustees at least once a year. Each reserve is addressed individually, taking into account the current risks and strategic objectives of the organisation. The trustees approach each review of reserves acutely aware of the fluctuations in income which can happen annually, especially around donations and legacies and local authority contracts. The Beacon Centre's current reserves have been put into place with due consideration given around these oreas by the board. The Beacon Centre's general unrestricted general fund enables medium term investments (which generate income for the organisation) and also enables the organisation to maintain a workable level of cash to effectively run the services delivered by Beacon. In formulating the organisation's reserves policy the Board of Trustees have determined that it is appropriate for the Beacon Centre to hold free reserves that are equivalent to between six and 12 months of budgeted expenditure. The Beacon Centre's free reserves which totalled £2,133,000 at 31 March 2025, represents eight months of the organisation's expenditure (£3,121,000 budgeted expenditure). In view of the need to maintain services for our beneficiaries who are deemed vulnerable as a result of factors such as their sight loss, other health conditions or age , the Beacon Centre's Board of Trustees have determined that it is reasonable to carry this level of reserves as an organisation. The Beacon Centre for the Blind's free reserves are calculated after deducting the organisation's restricted funds and designated capital funds, which are set out in note13 to the accounts. 23
BEACON CENTRE FOR THE BLIND STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounb'ng Practice). Company18w requires the Trustees to prepare financial statements for each fin8nci81 year. Under company law, the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the sL9te of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In pparIng these financial statements, the Trustees are required to. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021", make judgements and accounting estimates that are reasonable and prudent", stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial stalemenls., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Group and the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Group and the Charity and enable them to ensure that the financial stslemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Oisclosure of infomiation to auditors Each of the persons who are Trustees al the time when this Trustees. report is approved has confirmed Ihal.. so far as that Trustees are aware, there is no relevant audit Information of which the Charity's auditor is unaware, and that Trustees have taken all the steps that ought to have been taken as a Trustee in order to be 8W8re of any relevant audit information and to establish that the charity's auditor is aware of that information. Approved by order of the members of the board of Trustees and signed on its behalf by.. K Roper Ichair of Trustees) Dale.. 22 December 2025 Page 24
BEACON CENTRE FOR THE BLIND INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACON CENTRE FOR THE BLIND Opinion We have audited the financial ststements of Beacon Centre for the Blind Ilhe 'parenl charitable companll and its SLJbsidiaries Ilhe 'group'l for the year ended 31 March 2025 which comprise the Consolidated statement of financial aclivilie5, the Consolidated balance Sheet, the Charrty balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant a¢¢ounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Iland, Iuniled Kingdom Generally Accepted Accounting Practicel. In our opinion the financial stslements.. give 8 Iiue and fair view of the slate of the Group's and of the parent charitable companys affairs as al 31 March 2025 and of the Group's incoming resources and application of reSoUs, Including its income and expenditure for the year then ended", have been properly prepared in accordanee with United Kingdom Generally Accepted Accounting Practice., and have been ppad in accordance with the requiiemenls of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further des¢ribed in the Audiloi's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provid& a basis for our opinion. Concluslons relating to going Concern In auditing the financial slalemenls, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubl on the Group's or the parent charitable company's ability lo continue as a goin9 concem for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustefrs with respect to going concem are described in the relevant sections of this report. Page 25
BEACON CENTRE FOR THE BLIND INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACON CENTRE FOR THE BLIND ICONTINUEDI Other infomiatlon The other infomiation comprises the information included in the Annual report other than the financial slalements and our Audilorfs report Ihereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial slalemenls does not cover the other inforrnalion and. except to the extent otherwise explicitly 51aled in our report, we do not express any form ol assurance conclusion Ihereon, Our responsibilrty is lo read the other information and, in doing so. consider whether the other information is materially inconsislenl with the financial slalements or our knowledge obtsined in the course of the audf(. or otherwise appears to be materially misstsled. If we identify such material inconsistencies or apparent material misslatemenls, we are required to determine whether this gives rise to a material misstatement in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report that fad. We have nothing lo report in this regard. Opinion on other matters pre$¢ribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit". the infomalion given in the Trustees, Report including the Strategic Report for the financial year for which the financial statements a prepared is consistent w1th the financial slalemenls. the Truslees. Report and the Strategic Report have been prepared in aOrdanCe with applicable legal requirements. Matters on which we are requlred to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in th& course of the aud(É, we have not identified material misslalements in the Trustees, Report including the Strategic Report. We have nothing lo report in respect of the following matters in lation lo which Companies Act 2006 requires us lo report lo you if. in our opinion.. Ihe parent charitable company has not kept adequate and sufficient accounting records, or relums adequate for our audit have not been received from branches not visited by us", or the parent charitable company financial slalements are not in agreement with the accounting records and returns.. or certain disclosures of Trustees. remuneration specified by law are not made,. or we have not received all the infomiation and explanations we require for our audit. Page 26
BEACON CENTRE FOR THE BLIND INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACON CENTRE FOR THE BLIND ICONTINUEDI Responsibilities of trustees As explained more fully in the Trustees, responsibilities statement, the Trustees Iwho are also the director5 of the charitable company for the purposes of company lawl are responsible for the preparation of the financial slalements and for being satisfied that th&y give a trLJe and fair view. and for such intemal control as the Trustees determine is necessary lo enable the preparation of financial slalemenls that are free from materi81 misslalemenl, whether due lo Iiaud or error. In preparing the financial 51alemenls, the Trustees are responsible for assessing the Group's and the parent chantable companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis ol accounting unless the Trustees either intend lo liquidate the Group or the parent Charitable ¢ompany or lo cease operations. or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial ststements as a whole are free from material misslatemenl, whether due lo fraud or error, and to Issue an Auditor'5 report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in a¢¢ordance wrth ISAS IUKI will ahNays dele¢t a material misstatement when il exists. Misslatemenls can arise from fraud or error and a consideied material if. individually or in the aggregate. they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design proureS in line with our responsibilities, outlined above, to delect material misstalemenls in respect of irregulanties. in¢luding fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The layvs and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP IFRS 1021. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the rinancial statements bLJt compliance with which might be fundamental to the charitable company's and the group's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exi51 within the Charitable company and the group for fraud. The saws and gUlationS we considered in this context for the charitable company's and the group's operations were General Data Protection Regulation IGDPRI, Health and safety legislation, employment law. and Anli-fraud. bribery and corruption legislation. Auditing standaids limit the required audit Procedures to identify non<omplian¢e with these laws and regulations lo enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impa¢t on the f1nancial statements from Irregularities. including fraud, lo be the override of controls by management and the liming of fecognition of ¢ertain income streams. Our audit procedures lo respond lo these risks included enquiries of management about their own identifi¢ation and assessment of the risks of irregularities, sample testing on the posting of journals and reviewing accounting estimates for biases, designing audit procedLJres lo lesl the liming Df income recognition and reviewing regulatory correspondence with the Charity Commission, and adIng minutes of meetings of those charged with governance. Page 27
BEACON CENTRE FOR THE BLIND INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACON CENTRE FOR THE BLIND CONnNUEDI Because of the inherent limitations of an audit, there is a risk th* we will not delecl all irregularities, including those leading to a material misslatemenl in the financial slalemenls or non<ompliance with regulation. This risk increases the more that compliance with a law or gulatIOn is removed from the events and transactions reflected in the financial stalemenls, as we will be le55 likely lo become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or fnisrepresenlalion. A further description of our responsibilities for the audit of the financial ststements is located on the Financial Reporting Council's website al.. wW.ffC or .uklauditorsres onsibililies. This description forms part of our Auditor's report. Use of our report Thi5 report is made solely lo the charrtable company's members, a5 a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charitable company's member5 those matters we are required lo stale lo them in an Auditor's report and for no other purpose. To the lullesl extent permitted by law, we do not acpt or assume responsibilty lo anyone other than the charitable company and its members, as a body. for OLJr audit work, for this report. or for the opinions we have forrned. Helen Blundell LLB FCA FCIE DChA Isenlor statutory audltorl for and on behalf of Crowe U.K. LLP Slalutory Auditor Black Country House Rounds Green Road Oldbury Wesl Midlands 869 2DG Date.. 23 December 2025 Page 28
BEACON CENTRE FOR THE BLIND CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2025 Unrestri¢tod funds 2025 £000 Restrlcted funds 2025 £000 Total funds 2025 £000 Total fuilds 2024 £000 Note Income from: Donations and legacies Charitable acliv(ties Other trading activities Investments 318 318 1,561 683 470 117 1,258 765 91 683 100 102 Totsl income 2,545 119 2,664 Expenditure on.. Raising funds". Fundraising activrties Inve51menl management Other raising funds Charitable activities 1,218 33 1,218 33 1, 397 22 1,837 67 1.904 1,65S Total eXnditUre 3,089 67 3.1S6 2,875 Net lexpendlturelllncome before net Ilossesllgains on investments Nel Ilossesllgains on investments 15441 1711 52 121 14921 1731 (291) 110 Net lexpendllurelllncome Transfers between fund5 16151 10 50 {5651 (181) 1101 Net moverngnt in funds 16051 15651 (781) Reconciliation of fund$: Total funds brougtil foNard Nel movement in funds 5.388 1605} 939 6,327 15651 6,508 (181) Total funds carried forward 4,783 979 5,762 6,327 The Consolhlaled Statement of Financial Activf(ies includes all gains and losses recognised in the year. The notes on pages 35 to 60 form part of these financial slalemenls. Page 29
BEACON CENTRE FOR THE BLIND REGISTERED NUMBER: 710129 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025 2025 £000 2024 £000 Note Fixed assets Tangible as5els Investments Social investments 3,254 2,563 3,379 2,860 14 15 5,817 6,244 Current assets Stocks 16 IS 414 17 442 538 Debtors Cash at bank and in hand 17 519 948 997 Current Ilabilities Creditors." amounts falling due within one year 18 5771 (484) Net current assets 371 513 Total assets less current liabilities 6,188 6, 757 Creditors." amounts falling due after more than one year 19 14261 (430) Total net assels 5,762 6,321 Page 30
BEACON CENTRE FOR THE BLIND REGISTERED NUMBER: 71Q129 CONSOLIDATED BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2025 2025 £000 2024 £000 Notg Charity funds Restricted funds Unrestricted funds 22 979 939 Designated funds Gener81 funds 22 22 3.047 1,736 3,447 1.941 Total unreslricled funds 22 4.783 5,388 Total funds 5,762 6.327 The Trustees acknowledge their spOnSIbl1111es for Complying with the requirements of the Act with respect to accounting records and pieparalion of financial slalements. The financial slalemenls were approved and aulhorised for issue by the Trustees and signed on their behalf by.. P Turner Trustee Dal&.' 1111112TJ2)" The notes on pages 35 to 60 form part of these finan¢ial slalemenls. Page 31
BEACON CENTRE FOR THE BLIND REGISTERED NUMBER: 710129 CHAR]TY BALANCE SHEET AS AT 31 MARCH 202S 2025 £000 2024 £000 Note Flxed assets Tangible assets Investments Social investments 3,254 2,$63 3,379 2,860 14 5,817 6,244 Current assets Stocks Debtors Cash al bank and in hand 16 15 15 460 17 430 503 520 995 Currant liabilities Creditors.. amounts falling due within one year 18 15771 (483) Net current assat$ 371 512 Total assets less current liabilitles 6.188 6.756 Creditors.. amounts falling due after more than one year 19 14261 (43Q) Total net assets 5.762 6,326 Page 32
8EACON CENTRE FOR THE BLIND REGISTERED NUMBER.. 710129 CHARITY BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2025 2025 £000 2024 Note Charity funds Reslricled funds Unrestricted fund$ 22 979 939 Deswnated funds General funds 22 22 3,047 1,736 3,447 1.940 Total unrestricted funds 22 4,783 5,387 Total funds 5,762 6.326 The Charity's nel movement in funds for the year was a loss of £565,000 (2024 - £183,000). The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of financial slatemenls. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. P Turnar Trustees Date.. 2211112025 The notes on pages 35 to 60 fonn part of those financial statements. Page 33
BEACON CENTRE FOR THE BLIND CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 £000 2024 Note Cash flows from operatlng activities Nel cash used in operating activities 25 13441 (14) Cash flows from investing activities Dividends. interests and rents from investments Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investments 102 91 (116) 278 223 Not cash provided by InVesn9 activities 32S 250 Change in cash and cash equivalents in the year Bank and cash balances 1191 538 236 302 Cash and cash equlvalents at the elld of the year 26 519 538 The notes on pages 35 10 60 form part of these financial statements Page 34
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE Y&AR ENDED 31 MARCH 2025 General information Beacon Centre lor the Blind is a company limited by guarantee. (registered number 7101291. which is incorporated and registered in England and Wales. Ils Charity registration number is 216092. The registered office is Wolverhampton Road East, Wolverhampton, WV4 8AZ. The members of the Company are the Board of Trustees named on page 1. In the event Df the Company being wound up, the liability in respect of the guarantee is limited to £5 per member of the Company. Accounting policies 2.1 Basi$ of preparation of financial statements The finaneial slalemenls have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities." Statement of Recommended Practice applicable to charities preparing their accounts in a¢Gordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Beacon Centre lor the Blind meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially re¢ognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. The Consolidated statement of financial activities ISOFAI and Consolidated balance sheet consolidate the financial statements of the Charity and f(s subsidiary undertakings. The results of the subsidiaries are consolidated on a line by line basis. The Charity has taken advanta9e of the exemption allowed under section 408 of the Companies Act 2006 and has not presented ils owr Statement of financial activities in these financial statements. 2.2 Going concorn The financial slalemenls have been prepared on the going concern basis. Trustees have reviewed and considered going concem projections lo March 2027. which included prudent eslimales of income and expenditLJre, which indicated Ihal reserves would still remain sufficient at the end of that period. They are, therefore, of the view that Beacon Cenlie for the Blind will continue lo operate on this basis for the foreseeable future. Judgements and eslimatas have been used in the preparation of thes& financial st*ements, bul the trustees do not Consider that they would be likely lo lead lo a material misslalemenl. Page 35
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontlnuedl 2.3 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of thè general objectives of the Group and which have not been designated for other purposes. Designated funds comprise unreslricled funds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is sel out in the notes lo the financial statements. Restricted funds are funds which are to be used in accordance wf(h spe¢if1c restrictions imposed by donors or which have been Taised by the Group for particular purposes. The costs of raising and administering such funds are charged against the Specific fund. The aim and use of each r8slricled fund is sel out in the notes lo the financial stalemenls. Investment income. gains and losses are allocated lo the appropriate fund. 2.4 Income All income is recognised once the Charity has enlitlemenl ¢0 the in¢ome, il is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing enlillernenl, the probability of ceipl and the ability lo estimate with sufficient accuracy the amount CeiVable. Evidence of enlillemenl to a legacy exists when the Charity has sufficient evidence that a gift has been left to them Ilhrough knowledge of the existence of a valid will and the death of the benefaclorl and the executor is satisfied that the property in question will not be required lo satisfy claims in the estate. Receipt of a legacy musl be recognised when it is probable that it will be received and the fair value of the amount receivable. which will generally be the expected cash amount to be distributed lo the Charity, can be reliably measured. Donated services or facilities are recognised when the company has control, any conditions associated with the donations have been mel, the reIpt of economic benefit from the use by the company of the item is probabk and the economic benefit can be measured reliably. In accordance with the Charities SORP IFRS1021. general volunteer lime is not recognised bul refer to the Board of Trustees, report lor more inlomalion about their conlribulion. On receipt. donated professional services and facilities are recognised on the basis Df the value of the gift to the Charity which is the amount il would have been willing to pay to obtain services or facilities of equivalent economic benefit Dn the open market., a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in latiOn lo donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Income lax recoverable in relation lo investment income is recognised at the lime the investment income is receivable. Page 36
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinuedl 2.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economie benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the oblig8lion can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs inVoed in undertaking each activity. Direct costs allribulable to a single activity ale allocated directly lo that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciath)n charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for ils charitable purposes and includes ¢osls of all fundraising a¢livilies events and non-charilable trading. Expenditure on charitable activrf(ie5 is incurred on directly undertaking the activities which further the Group's Objectives, as well as any associated support costs. Fund raising costs are those incurred in seeking voluntsry contributions and do not include the costs of disseminating information in support of the Charitable activities. Support costs are those costs incurred directly in 5UPPOrt of expenditure on the objects of the company and include project management carried out al Headquarters. Governance costs are those Incurred in connection WFth administration ol the company and compliance with constrtulional and statutory requirement5. 2.6 Tanglble fixed assets and depreciatlon Tangible fixed assets costing £500 or rnore are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tsngible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al Cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, using the straighl-line method. Depreciation is provided on th8 following basis.. Freehold property Plant and machinery Motor vehicles Computer eqLJipment 20 15% 20Yo 25Q Gain5 and losses on disposa15 are determined by comparing the proceed5 with the carrying amount and are recognised in the Consolidated slalement of financial aclivilies. Page 37
8EACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A¢counting policies Icontinuedl 2.7 Investmonts Fixed asset investments are a form of financial instrument and are inrtially recognised at their Iran5aclion cost and subsequently measured at fair value al the Balance sheet dale, unless the value cannot be measured reliably in which case il is measured al cost less 1mpairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on inveslmenls. in the Consolidated statement tsf financial activities. Investments in subsidiaries are valued al cost less provision for impairment. Programme related investments are shown al cost less provision for impairment. 2.8 Operating leases Rentals paid under operating Seases are charged lo the Consolidated slalernent of financial activities on a slraighl-line basis over the lease term. 2.9 Stocks Stocks are valued at the lower of Cost and nel realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.10 Financial instruments The Group only has financial assets and financial liabilrties of a kind that qualfy as basic financial inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. Cash at bank and in hand Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of three months or less from the dale of acqui511ion or opening of the deposlt or similar a¢¢ounl. Page 38
BEACON CENTRE FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinuedl Liabilities and provisions Liabili(ies are recognised when there is an obligation at the Balance sheet dale as a result of a past event, il is probable that a transfer of economic benefit will be reqLJired in settlement. and the amount of the settlement can be estifnaled reliably. Liabilities are recognised al the amount that the Charity anlicipales il will pay lo settle the debt or the amount il has reiVed as advanced payments for Ihe goods or services il must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effert of the time value of money 15 material. the provision is based on the present value of those amounts. discounted al the pre-tax discount rale that reflects the risks Specific lo the liability. The unwinding of the discount is re¢ognised in the Consolidated slalemenl of financial activities as a finance cost. 2.11 Penslons The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group lo the fLJnd in respe¢l of Ihe year. Income from donations and legacies Unrnstricted funds 2025 £000 Total fund5 2025 £iioo Donations Legacies 106 212 106 212 Total 2025 318 318 Unrestricted funds 2024 £000 Total funds 2024 Donations 76 394 76 394 Legacies Total 2024 470 470 Page 39
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Incorne from charitable activities Unrestricted Restricted funds funds 2025 2025 £000 £000 Total fund5 2025 £000 Helping the visually impair Grants 957 957 604 487 117 Total 2025 117 1.561 Unrestricted funds 2024 £000 Res117cl8d funds 2024 £000 Total fvnds 2024 £000 Helping the visually impaired Grants 633 633 625 447 178 Total 2024 7.080 178 1,258 Income from trading actlvltle$ Income from non charitable trading actlvltle$ Unrestrlct8d funds 2025 £000 Total funds 2025 £000 Helping the Visualty Impaired Hosprtality Other Irading in¢om8 17 33 633 17 33 633 Total 202S 683 683 Page40
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S Income from trading activltles Icontlnuedl Income from non charitable trading activities Icontinued} Unreslricled funds 2024 Total funds 2024 £ocio Helping the Visually Impaired Hospitality Other trading income 31 31 43 43 691 691 Total 2024 765 765 Invastment income Unrestricted Restrfcted funds funds 2025 2025 £000 £000 Total funds 2025 £000 Managed investrnents 100 102 Unreslncled funds 2024 £000 Restricted fvnds 2024 £000 Total funds 2024 £000 Managed investments 89 91 Page 41
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on raising funds Fundraising activlties Unrestricted funds 2025 £000 Total funds 2025 £000 Fundraising activrtie5 Fundraising wages and salaries Fundraising depreciation 524 646 48 524 Total 2025 1.218 1,218 unS1cled lunds 2024 Total funds 2024 Fundraising adivrties Fundraising wages and salaries Fundraising depreciation 450 450 691 697 50 Total 2024 1,197 1, 197 Expenditure on fundraising includes retail aclmties. Investment management fees Unr&stricted funds 2025 £000 Total funds 2025 £000 Investment management fees 33 33 Page 42
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Investment management fees Icontinuedl UnrestlFcled funds 2024 Total funds 2024 £000 Inveslmgnt management fees 22 22 Analysis of expendlture on charitable activrtles Summary by fund type Unrostricted funds 2025 £000 Restricted funds 2025 £000 Total 2025 £000 Helping the visually impaired Govemance costs 1,820 17 67 1,887 17 Total 202S 1,837 67 1,904 Unrestricted fiinds 2024 £000 Restricted funds 2024 Total 2024 £0( Helping the visually imp81d Governanee costs 1,553 16 87 1,640 36 Tot812024 1, 569 87 1.656 Page 43
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure on charitable activities Icontlnuedl Summary by expenditur8 typo Stsff costs Depreciation Other costs 2025 2025 2025 £000 £000 £000 Total 2025 £000 Helping the visualty impaired Governance costs 1,245 585 17 1,887 17 Totsl 2025 1,245 77 582 1,904 Sfaff costs DepTrciation Olher¢osts 2024 2024 2024 £000 £000 £000 Total 2024 £000 Helping the Visual impaired Governance costs 1,208 72 360 t,64Q 16 16 Total 2024 1,208 72 376 7,656 10. Audltorfs remuneration 2025 £000 2024 £000 Fees payable to the Charws auditor for the audit of the Charity's annual accounts 16 15 Fees payable lo the Charitys auditor in respect of.. Statutory accounts preparation Page 44
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Staff costs Group 2025 £000 Group 2024 £000 Charlty 2025 £000 Charity 2024 £0( Wages and salaries Social security costs Contribution to defined contribution pension schemes 1,663 128 1, 676 122 1,663 128 1,643 122 100 107 100 107 1,891 1,905 1,891 1.872 During the year a redundan¢y settlement of £4,400 (2024 £3, 700J was paid. At the year end there was £Nil (2024- £NIl) outstanding. The average number of persons employed by the Charty during the year was as follows-. Group 2025 No. Group 2024 Beacon Care+ Charitable services Fundraising & charity shops Hospitality & facilities Management & adminislralion 25 21 29 20 25 26 10 10 10 89 95 The average headcourrt expressed a5 full-time equivalents was.. Group 2025 Group 2024 No. Beacon Care+ Charitable services Fundraising & charity shops Hospitality & facilities Management & adminislralion 14 17 17 18 16 18 60 Page 45
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Staff costs Icontinuedl The number of employees whose employee benefits lexcluding 8mployer pension costs) exceeded £60.000 was: Group 2025 No. Group 2024 In the band £60,001- £70,000 The key management personnel of the Charity comprise the Chief Executive Officer and the Executive Leadership Team. The total employee benefrts of the key management personnel of the Charity during the period were £349,000 (2024- £218.(ll?J. The increase in Key Managernenl Personnel is a result of an alleralion in structure consolidating some management and leadership roles. increasing KMP from 4.6 to 6 FTE. The constslidation has overall reduced the total leadership and management costs to the charity. 12. Tru$tges' remuneration and expenses During the year. no Trustees reiVed any remuneration or other benefits (2024- £NIL). During the year ended 31 March 2025, no Trustee expenses have been incurred (2024- £NIL). Trustee indemnity insLJran¢e is provided lo £1.000.000 under the company's combined insurance programme. Page 46
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Tangiblg fixed assets Group and Charity Freehold property £000 Plant and m3¢hinery £000 Motor vehicl9$ £000 Computer equipment £000 Total £000 Cost or valuation Al 1 Apnl 2024 Disposals 4,681 387 165 312 5,545 1291 1291 Al 31 March 2025 4,681 387 136 312 5,$16 Depreciation Al 1 April 2024 Charge for the year On disposals 1.332 110 371 165 298 2,166 125 1291 1291 Al 31 March 2025 1.442 376 136 308 2,262 Net book valua Al 31 Mah 2025 3,239 3,254 At 31 Mamh 2024 3,349 16 14 3.379 Page47
BEACON CENTRE FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Flxed asset Investments Llsted investments £000 Minority investment £000 Totsl £000 Group and Charity Cost or valuation At 1 April 2024 Disposals Revaluations 2,859 12241 1731 2,860 12241 {731 At 31 March 2025 2,562 2,563 Minority investment relates lo an investment in The Combined Partnership LLP. Principal $ub$idiario$ The following was 8 subsidiary undertaking of the Charity.. Name Company Registered office or numbèr principal place of buslness Prlnclpal actlvity Class of Holding shares Beacon Enterprise Ltd 11589900 Wolverhampton Road East Hospitality and Wolverhampton other trading activity VVV4 6AZ Ordinary 1000A The financial resuks of the subsidiary for the year were.. Nam& Expenditure £000 ProfiUILossl I Surplusl (Deficrtl for the year £000 Net assets £000 Beacon Enterprise Ltd 14901 During the year expenses of £Nil 12024 - £43,OOOJ were recharged by the Charrty lo Beacon Enterprise Ltd. Al the year end Beacon Enterprise Ltd owed £21.000 after a provision of £487.000 (2024 £67,009 after a provision of £436.0(XJJ. Beacon4Lrfe Community Interest Comp8ny was dissolved during the year. Page 48
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. Social invastments Group and Charity Programme related investments £000 Total £000 Cost or valuation At 1 April 2024 Disposals 153 153 1153} (153) Impalrment provlsion At 1 April 2024 Impairment charge 748 (148) 11481 Net book value Al 31 March 2025 Al 31 March 2024 The programme related investments is in Conigilal Ltd, which was developing systems fof autonomous vehicles. This furthers the strategic aim lo promote independence for people living with sight loss. and is collaboration lo ensure that new technologies lake account of their needs. The company has now been dissolved and the invostment written off. 16. Stocks Group 2025 £000 Gmup 2024 Charity 2025 £000 Charity 2024 Finish8d goods and goods for resale 15 17 15 15 Page 49
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. Debtors Group 2025 £000 Group 2024 Charity 2025 £000 Charity 2024 £000 Due after morg than one year Prepayments and accrued income 149 158 149 158 149 158 149 158 Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 138 125 137 122 21 11 29 11 117 29 130 116 130 414 442 430 460 18. Creditors.. Amounts falllng due vlthln ong year Group 202S £000 Group 2024 £000 Charity 2025 £000 Charity 2024 £000 Trade creditors Other laxalion and social security Accruals and deferred Income 227 181 30 227 180 30 30 320 30 320 273 273 577 484 577 483 19. Creditors: Amounts falllng due after more than one year Group 2025 £000 Group 2024 £000 Charlty 2025 £000 Charity 2024 Accruals and deferred income 426 430 426 430 Page So
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 20. Accruals and deferred Income Deferred incorne due over one year is lease capital received, amortisated over the life of the lease. Group 2025 £000 Group 2024 Charity 2025 £000 Charity 2024 Deferred income at 1 April 2024 Amorti5alion 430 434 (4) 430 141 434 f4) Deferred income at 31 March 2025 426 430 426 430 Deferred income due under one year of £197,000 is in respect of income received but not enlilled to al year end. 21. Financial instruments Group 2025 £000 Group 2024 £000 Charity 2025 Charity 2024 £000 Financial assets Financial assets measured at fair value through income and expenditu 2,636 2,859 2,636 2,859 Financial assets meaSUd al fair value through income and expenditure comprise listed investments. Page 51
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 22. Statement of funds Statement of funds - current year Balance at 31 March 2025 £000 Balance at 1 Aprll 2024 £000 Transfers inlout £000 Gainsl (Losses) £000 Income Expenditure £000 £000 Unrestricted funds Designated funds Capital reserve Technology Gym refurbishment Property renewal COVID 2.641 125 1113 122 25 2,650 150 25 25 56 17 23 72 resilience Vehicle renewal 500 {5001 so 100 3,447 11201 12801 3.047 General funds General Funds - all funds 1,941 12,9681 290 1711 1.736 Total Unrestrlcted funds 5,388 13,0881 10 (711 4,783 Page 52
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 22. Statement of funds Icontinuedl Balance at 31 March 2025 £000 Balance at 1 April 2024 £000 Transfers inlout £000 Gainsl ILo$sesl £000 Income Expenditure £000 £000 Restricted funds Capitsl Project Willets Trust Beacon Butler Youth Recreation & Development Healthy Communrties Together Health & Wellbeing Workshops for the Visually Impaired 601 71 14} 181 131 589 68 121 13} 36 142 117 160) 199 29 29 57 58 939 119 167} 121 979 Total of funds 6,327 2,663 {3.155} 1731 S.762 Page 53
BEACON CENTRE FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 22. Statement of funds Icontinuedl Statement of funds - prior year 8alanc8 al 31 Mah 2024 £000 Balance al l April 2023 Transfe inloul Gainsl (Losses) Inoome Expenditu Unrestricted funds Designated funds Capital reserve Technology Gyrn refurbishment Property renewal COVID 2, 766 125 (151) 26 2,641 125 25 25 62 56 resilience Vehicle renewal 500 500 100 100 3,578 (157? 26 3,447 General funds Unrestricted general funds 2,073 2.404 (2, 637) {12? 107 1.941 Total Unrestrlcted funds 5.651 2,404 (2. 788) 34 107 5,388 Page 54
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 22. Statement of funds Icontlnuedl Balance al 31 March 2024 £000 8alan¢e al l April 2023 £000 Transf8 in/oul Gains/ (Losses) £000 Income Expendilu £000 Restrlcted funds Capital Project Willets Trust Beacon Butler Youth Recreation & Developrnenl Heaf(hy Communities Together Health & Wellbeing Workshops for the Visually Impaired 618 80 (17) 601 71 (14) {iJ 36 36 56 145 (59) 142 25 29 59 (10) 57 857 780 187) (14) 939 Total of funds 6.508 2.584 (2,875) 110 6,327 Page 55
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 22. Statement of funds Icontinuedl Designatod Funds The Capitsl ReseNe Fund represents the net book value of the group's tangible fixed assets. principally land and buildings, Gurrenlly held for use in the furtherance of the organisalion's objectives and the funds are therefore unavailable for other use. The Technology Fund has been agreed lo bring in technology in line with strategic objectives, including providing leehnology for the benefit of the visually irnpaired. The Gym Refurbishment Fund is established to COV8r updated facilities in the gym, which is primarily used for rehabililalion. The Property Renewal fvnd is established lo cover the Cost of repairing and improving the charity's buildings. The COVID Resilience Fund was established lo meet additional costs, including infection control, arising from the COVID-19 pandemic. The Vehicle renewal fund was established to cover any costs lo upgrade, replace or adapt our minibus fleet. Restrlcted Funds The Capital Project 15 a fund was established lo upgrade the sile infrastructure and user facilities at the Beacon Cenlre. Income received was from donations and grants, and the expènditure lo date comprises depre¢ialion of the new facilities. The Willets Trust is a permanent endowment fund that was established in 1965 from a legacy. The primary objeclive is lo use the annual income for the benefrt of blind persons resident in Old Hall and Rowley Regis, or other areas if the incorne is not needed in these areas. Youth Recreation and Development Equipment FLJnd was created by a legacy. and is to provide recreational development for visually impaired young people. Healthy Communities Together is a collaborative project funded by National Lottery Community Fund and lead by Beacon on behalf of the Combined Partnership. The project aims lo increase engagement and collaboration across health and social care and VCSE to address health inequalities in the Black Country The Heamh and Wellbeing Fund covers various funders for our lifestyle activrties to improve the wellbeing and fi(ne5s of visualty impaired people. The w0$hopS lor Visually Impaired Fund is to provide work and craft actDI((ies for visually impaired people. Page 56
BEACON CENTRE FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 23. Summary offunds Summary offvnds- current year Balance at 31 March 2025 £000 Balance at 1 April 2024 £000 Transfers inlout £000 Gainsl ILos5esl £000 Income Expenditure £000 £000 Designated funds General funds ReStrCted funds 3,447 1,941 939 11201 2,9681 1671 12801 290 1101 3,047 1,736 979 1711 21 119 6,327 2,663 13,1 SSI 1731 S,762 Summary offunds- prior yèar Balance al 31 March 2024 Balan at 1 April 2023 £000 Transfers Gain (Losses) £000 Income Expendilii £000 £000 £000 Designated funds 3.578 2,073 857 (157) (2, 631) (87) 26 {12) (14) 3,447 1,941 939 General funds Restricted funds 2,404 180 107 6.508 2.584 (2,875) 110 6.327 24. Analysis of not assets between ftFnds Unrostricted Restricted funds fund$ 2025 2025 £000 £000 Totsl funds 2025 £000 Analysis ot net assets between funds - currgnt perlod Tangible fixed assets Fixed asset investments Social investments Debtors due after more than one year Current assets 2,665 2,495 589 68 3,254 2,563 149 149 799 15771 14261 477 322 Creditors due within one year Creditors due in more than one year 15771 14261 Total 2025 4.783 979 S,762 Page 57
BEACON CENTRE FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Unreslncled funds 2024 £000 R8slricted funds 2024 Tolal funds 2024 Analysis of net assets between funds - prior period Tangible fixed assets Fixed asset investments Social investments Debtors due after more than one year Current assets Creditors due within one year Creditors due within one year 2, 778 2. 789 601 71 3,379 2.860 158 158 839 572 (484) (430? 267 (484) (430) Total 2024 5.388 939 6.327 25. Reconciliation of net movement in funds to net cash flow from operating actlvltlgs Group 2025 £000 Group 2024 £000 Nel expendf(ure for the year las per Ststement of Financial Aclivitiesl 15651 (f 81) Adjustments for.. Depreciation charges Amortisalion charges Lossl{gainl on inveslrnents Dividends, interests and rents from investments Decrease in stocks Decrease in debtors Increase in creditors Impairment of investments 125 121 73 (t io) (91) 11021 29 101 144 Nat cash used in operating a¢tivFtles 13441 (14) Page 58
BEACON CENTRE FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 26. Analysis of cash and cash equlvalents Group 2025 £000 519 Gmup 2024 Cash in hand 538 27. Analysis of change5 in net debt At 1 April 2024 Cash flows £000 At 31 March 2025 £000 £000 538 Cash al bank and in hand 1191 519 2B. Pension commitments The Group opérates a defined contribution pension s¢h8me operated by Standard Life. The assets of the scheme are held separately frorn those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the group lo the fund and amoLJnted lo £100,000 (2024 £107.000). Contributions lotalling £12.000 (2024- £12,OOOJ were payable lo the fund at tho balance sheet date. Operating lease commitments At 31 March 2025 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows". Group 2025 £000 Group 2024 £000 Charity 202S £000 Charity 2024 Not later than 1 year Later than 1 year and not later than 5 years 32 58 90 32 58 86 86 118 148 118 148 The following lease payments have been recognised as an expense in the Slalement of financial aclivilies.. Group 2025 £000 Groiip 2024 Charity 2025 £000 Charity 2024 £000 Operating lease rentals 58 58 55 Page 59
BEACON CENTRE FOR THE BUNO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 30. Related party transactions The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity al 31 March 2025 other than those noted in note 12 and note 15. Page 60