REGISTERED COMPANY NUMBER: 02772914 (England and Wales)

REGISTERED CHARITY NUMBER: 1048090

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

BUSINESS EDUCATION PARTNERSHIP (UK) LTD

Page

Report of the Trustees

1

to

4

Report of the Independent Auditors

5

to

7

Statement of Financial Activities

8

Balance Sheet

9

Cash Flow Statement

10

Notes to the Cash Flow Statement

11

Notes to the Financial Statements

12

to

20

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The primary objectives of the charity are to bring businesses, education and the wider community together to help young people aged between 14 and 19 to develop their employability skills and help those aged between 18 and 40 to develop skills to secure employment.

The charity provides these services across a wide area including Barking & Dagenham, Havering, Redbridge, Waltham Forest (in East London) and Essex (including Thurrock and Southend-on-Sea).

Public benefit reporting requirements

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

The trustees consider that the charity's prime objective, the advancement of education and employment, meets the Charity Commission's main principles for public benefit.

Significant activities

The charity invests all income, grants and donations into providing its services. The main projects and activities are:

Work experience

Known as BEP Trident, BEP Group have been delivering a work experience service to schools since 1992. Work Experience is seen as part of a young person's education and in the 24/25 academic year around 5,800 young people benefitted from a placement vetted and managed by BEP Group.

In May 2024 a new 10-year lease for a central work experience office in Chelmsford was secured to enable the establishment of permanent base for the work experience team. Previously, and since restarting the service post-Covid, work experience colleagues had worked from their respective homes. The central office has been welcomed by all staff, and the service continues to go from strength to strength. Next year, the service is set to grown again, in terms of the number of schools and students being placed.

Alternative Education

BEP Group continue to deliver alternative education via our Independent School, BEP Academy. Around 40 schools and 7 Local Authorities across Essex and East London refer young people to our school every year. We have two sites - Romford and Basildon, with Romford having a slightly larger capacity. Children who, for whatever reason are not succeeding in main-stream school, may be referred to BEP Academy.

Students can spend part of the week studying for core GCSEs or Functional Skills (depending on their year group and/or level) in English, Maths and ICT. Personal and Social Development courses and vocational courses are also taken alongside the core subjects.

All young people on the programme are assigned a personal Key Worker who offers mentoring support, information, advice and guidance (IAG) and signposting to other support agencies/experts.

Without this provision some students would become disaffected, disengaged or NEET (Not in Education, Employment or Training) and fail to reach their potential.

In February 2023, BEP academy was subject to our second full Ofsted Inspection. We were, for the second time, graded good for all assessed areas, achieved good overall and it was confirmed that BEP Group meets all the Independent School Standards. Our next inspection will become due in February 2026.

FINANCIAL REVIEW

Resources expended

Resources are allocated to direct charitable expenditure on a specific basis. Where no basis exists, or where costs are attributable to more than one activity, expenditure is apportioned across cost categories based on resources used on those activities.

Principal funding sources

Funding for Work Related Learning (including pre-16 work experience) was withdrawn by the Government in March 2011. Schools now meet the full cost of work experience provision. Schools also continue to meet the full cost of the alternative education provision.

Reserves policy

At the 31st March 2025 the reserves of BEP equated to approximately 3 months of expenditure. The trustees have agreed a maximum level of reserves to be set at a maximum of 12 months of expenditure to ensure the charity can meet its contractual obligations to schools and particularly young people on programmes lasting one year.

Results for the year

The charity has made a surplus for the year of £111,744 (2024: £116,063). Income from fees charged to provide young people with their education have increased from £1.66m to £1.86m. We have also invested heavily in new staff as we continue to expand.

FUTURE PLANS

The overall aims and objectives of the charity remain the same. Over the next year the charity will aim to:

- Continue to provide a high-quality service to schools and students;

- Engage schools and students in work experience;

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Business Education Partnership (UK) Limited is a charitable company controlled by its governing document limited by guarantee, as defined by the Companies Act 2006. The charity is constituted under a Memorandum of Association dated 12th June 1995

Recruitment and appointment of new trustees

The management of the charity is the responsibility of the trustees, who are elected and co-opted under the terms of the Articles of Association.

Organisational structure

The board trustees meet a minimum of 3 times per year. All resolutions are decided by a show of hands requiring a majority vote to be passed. In the event of a tie, the chairman has the casting vote.

The trustees delegate the day to day management of the charity to Kelly Sims, the company secretary. He gives feedback on the charity's activities at board meetings and liaises regularly with the trustees to keep them informed.

Induction and training of new trustees

Where there is a requirement for new trustees, these would be identified and appointed by the existing trustees. The chair of the trustees ensures that new trustees are aware of their responsibilities, the governing documents, the history of the charity and its objects and activities. In addition to visiting the charity's offices to meet the employees and officers of the company, a new trustee will receive a copy of the previous year's annual report and accounts and a copy of the Charity Commission leaflet "The Essential Trustee: What you need to know".

Related parties

Where a trustee of the charity holds a senior position with any of its funders, there will be involvement with any discussions but not in the ultimate decision making.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The significant external risk is the withdrawal or reduction in future funding and, in view of this, plans have been developed for the diversification of funding and activities.

Internal risks are minimised by the implementation of procedures for the authorisation of all transactions and projects to ensure the consistent quality of delivery of all activities. These procedures are regularly reviewed to ensure that they continue to meet the needs of the charity.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

02772914 (England and Wales)

Registered Charity number

1048090

Registered office

Priestley House

Pristley Gardens

Chadwell Heath

Romford

Essex

RM6 4SN

Trustees

K A Byford

R A Turbefield

S J Wilks

Company Secretary

K Sims

Auditors

Chegwidden & Co

Statutory Auditors

Chartered Accountants

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees (who are also the directors of Business Education Partnership (UK) Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

Each of the persons who is a trustee at the date of approval of this report confirms that:

-

so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and

-

they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

The auditors, Chegwidden & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting in accordance with section 487 of the Companies Act 2006.

Approved by order of the board of trustees on 23rd December 2025 and signed on its behalf by:

S J Wilks - Trustee

Opinion

We have audited the financial statements of Business Education Partnership (UK) Ltd (the 'charitable company') for the year ended 31st March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31st March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements 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 information and explanations we require for our audit; or

-	the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

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

-

Enquiry of management, those charged with governance around actual and potential litigation and claims.

-

Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, UK tax legislation and regulations.

-

Reviewing minutes of meetings of those charged with governance.

-

Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

-

Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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

Use of our report

This report is made solely to the charitable company's members, as 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 state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Harris (Senior Statutory Auditor)

for and on behalf of Chegwidden & Co

Statutory Auditors

Chartered Accountants

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

23rd December 2025

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Work related experiences

3

1,849,664

1,652,080

Investment income

4

5,590

4,628

Total

1,855,254

1,656,708

EXPENDITURE ON

Work related experiences

5

1,435,069

1,276,266

Support costs

308,441

264,379

Total

1,743,510

1,540,645

NET INCOME

111,744

116,063

RECONCILIATION OF FUNDS

Total funds brought forward

391,353

275,290

TOTAL FUNDS CARRIED FORWARD

503,097

391,353

2025

2024

Total

Total

funds

funds

Notes

£

£

FIXED ASSETS

Tangible assets

14

36,804

31,328

CURRENT ASSETS

Debtors

15

142,240

127,994

Cash at bank and in hand

517,154

619,048

659,394

747,042

CREDITORS

Amounts falling due within one year

16

(187,267

)

(371,183

)

NET CURRENT ASSETS

472,127

375,859

TOTAL ASSETS LESS CURRENT LIABILITIES

508,931

407,187

CREDITORS

Amounts falling due after more than one year

17

(5,834

)

(15,834

)

NET ASSETS

503,097

391,353

FUNDS

20

Unrestricted funds:

General fund

503,097

391,353

TOTAL FUNDS

503,097

391,353

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

The financial statements were approved by the Board of Trustees and authorised for issue on 23rd December 2025 and were signed on its behalf by:

S J Wilks - Trustee

Cash flows from operating activities

Cash generated from operations

1

(79,116

)

176,302

Interest paid

(568

)

(785

)

Net cash (used in)/provided by operating activities

(79,684

)

175,517

Cash flows from investing activities

Purchase of tangible fixed assets

(17,800

)

(3,272

)

Interest received

5,590

4,628

Net cash (used in)/provided by investing activities

(12,210

)

1,356

Cash flows from financing activities

Loan repayments in year

(10,000

)

(10,000

)

Net cash used in financing activities

(10,000

)

(10,000

)

Change in cash and cash equivalents in the reporting period

(101,894

)

166,873

Cash and cash equivalents at the beginning of the reporting period

619,048

452,175

Cash and cash equivalents at the end of the reporting period

517,154

619,048

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025

2024

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

111,744

116,063

Adjustments for:

Depreciation charges

12,325

8,514

Loss on disposal of fixed assets

-

142

Interest received

(5,590

)

(4,628

)

Interest paid

568

785

(Increase)/decrease in debtors

(14,247

)

149,104

Decrease in creditors

(183,916

)

(93,678

)

Net cash (used in)/provided by operations

(79,116

)

176,302

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

619,048

(101,894

)

517,154

619,048

(101,894

)

517,154

Debt

Debts falling due within 1 year

(10,000

)

-

(10,000

)

Debts falling due after 1 year

(15,834

)

10,000

(5,834

)

(25,834

)

10,000

(15,834

)

Total

593,214

(91,894

)

501,320

1.	GENERAL INFORMATION AND STATEMENT OF COMPLIANCE

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Swan House, 9 Queens Road, Brentwood, Essex, CM14 4HE.

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

There are no material uncertainties about the charity's ability to continue.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

-

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

-

legacy income is recognised when receipt is probable and entitlement is established.

-

income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

-

income from contracts for the supply of services is recognised with the delivery of the contracted service.This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management undertaken at head office.

Governance costs comprise those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the case of the Charity, the only key judgement is the consideration given to the useful life of tangible fixed assets and related rates of depreciation.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 15% on reducing balance

Computer equipment - 33% on reducing balance

All fixed assets are initially recorded at cost. Items costing less than £500 are not capitalised.

Taxation

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

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

Limited by guarantee

Every member of BEP undertakes to contribute an amount not exceeding £1 to the assets of the company if it is wound up during the time that he is a member, or within one year afterwards, for debts and liabilities of BEP contracted before the time at which he or she ceases to be a member and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves.

3.	WORK RELATED EXPERIENCES

2025

2024

£

£

Work related experiences

1,841,890

1,643,866

Grants

7,774

8,214

1,849,664

1,652,080

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

2025

2024

£

£

Other grants

7,774

8,214

4.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

5,590

4,628

5.	WORK RELATED EXPERIENCES

Other trading activities

2025

2024

£

£

Purchases

66,814

61,614

Staff costs

964,066

847,424

Bad debts

44

9

Travel & subsistence

7,335

6,507

Consultancy fees

313,379

254,894

Staff recruit. & agency costs

83,431

105,818

1,435,069

1,276,266

6.	SUPPORT COSTS

Governance

Management

Finance

costs

Totals

£

£

£

£

Other resources expended

297,761

918

9,762

308,441

7.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

12,324

8,515

Deficit on disposal of fixed assets

-

142

8.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the charity's auditors for the audit of the charity's financial statements

5,500

6,320

9.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

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

No trustee expenses have been incurred.

10.	STAFF COSTS

2025

2024

£

£

Wages and salaries

882,037

776,209

Social security costs

64,808

56,477

Other pension costs

17,221

14,738

964,066

847,424

The average monthly number of employees during the year was as follows:

2025

2024

Charitable activities

23

21

Administrative

10

10

Health & Safety

6

3

39

34

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

11.	DEFERRED INCOME

Income is deferred according to the term in which the placement occurs. Monies received in March 25 relate to the following Summer Term: £108,587 (2024: £316,270).

12.	DEFINED CONTRIBUTION PLANS

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £17,221 (2024: £14,738).

13.	GOVERNMENT GRANTS

The government grants of £7,774 (2024: £8,214) received in the year related to the National Tutoring Programme (NTP), which provides primary and secondary schools with funding to spend on targeted academic support, and the recovery premium grant (RPG), the government’s package of funding to support education recovery following the impact of the coronavirus (COVID-19) pandemic.

14.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1st April 2024

46,271

50,943

97,214

Additions

-

17,800

17,800

At 31st March 2025

46,271

68,743

115,014

DEPRECIATION

At 1st April 2024

24,172

41,714

65,886

Charge for year

3,315

9,009

12,324

At 31st March 2025

27,487

50,723

78,210

NET BOOK VALUE

At 31st March 2025

18,784

18,020

36,804

At 31st March 2024

22,099

9,229

31,328

15.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

58,989

86,522

Amounts owed by participating interests

24

313

Other debtors

27,484

24,170

Prepayments and accrued income

55,743

16,989

142,240

127,994

16.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 18)

10,000

10,000

Trade creditors

21,143

21,884

Social security and other taxes

4,047

3,279

VAT

15,830

-

Accrued expenses

136,247

336,020

187,267

371,183

17.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 18)

5,834

15,834

18.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year on demand:

Bank loans

10,000

10,000

Amounts falling between one and two years:

Bank loans - 1-2 years

5,834

10,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

5,834

19.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

94,600

89,433

Between one and five years

214,000

210,000

In more than five years

64,000

-

372,600

299,433

The operating leases refers to the following properties:

62-64 Western Road, Romford - The lease period is 10 years from the 1st October 2018.

4 Repton Court, Basildon - The original lease term has expired and is now on a yearly rolling contract from the 24th November.

Unit 11 Beehive Business Centre, Beehive Lane, Chelmsford - The lease period is 10 years from the 1st April 2024.

10 Bridge Close, Romford - The lease has since expired in the 2024-2025 accounting period. The original lease term had expired and was previously on a yearly rolling contract.