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Registered number:
AUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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THE BEANS GROUP LIMITED
COMPANY INFORMATION
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THE BEANS GROUP LIMITED
CONTENTS
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THE BEANS GROUP LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The Beans Group Limited principal activities are the provision of consumer verification and marketing solutions to brands, and the enabling of a number of different consumer groups to connect with these brands in multiple geographical markets, including Europe, APAC, and USA.
The Group's overarching strategic objective is to solidify its position as a leading global consumer group verification and marketing platform. This is pursued through a disciplined Acquire, Activate and Retain framework across both our user community and our brand partner base, recognising that durable value creation requires service excellence and value delivery on both sides of the marketplace.
The directors believe the Group has significant further scale to realise, and that the current capabilities and current investments put that within reach. The Group's platforms, product inventory, data assets, and verified member base have positioned it to capture a high share of the market opportunity. The directors consider the continued evolution of the platform and the transition toward high-margin revenue streams to be the primary strategic opportunity and the primary source of future value creation.
Future Developments
User Group Expansion The Group's verified identity infrastructure and community-building capabilities are not limited to the traditional student demographic. The directors have identified a clear opportunity to extend the platform into adjacent communities, replicating the proven acquisition and engagement model in new segments and geographies to broaden the Group's total addressable user base. Verification Enterprise Solutions The Group is developing verification technology for direct integration into the customer journeys of its largest enterprise partners. This positions The Beans Group as an infrastructure-level identity and verification provider, not primarily as a marketing channel, and opens a significant recurring revenue stream with strong retention characteristics. North America Expansion Represents a key growth opportunity for the Group. Building on the initial market entry and strong commercial traction achieved to date, the priority is to accelerate partnerships and grow sales capacity to capture scale. The North America business is expected to become a significant contributor to Group revenue over the coming three years, leveraging foundational investments already made. Data and Insights The Group is scaling its use of verified first-party behavioural data to deliver richer, more actionable insights for brand partners. This represents a deliberate shift toward a data-informed partnership model, one in which the Group's insight capabilities become a distinct commercial product in their own right, deepening partner relationships and improving retention.
Review of the Business
The Group delivered revenue growth of 5% year-on-year in FY25. Revenue growth was primarily driven by our core streams of Commissions and Marketing Services; however, the strategic decision to exit non-core areas, including Events and other discontinued operations, diluted the overall growth figure
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THE BEANS GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
Operating Profit, before exceptional items, was £5.5M, a 49% increase on the previous year, and an Operating Margin of 29%. Directors are pleased with the progress made in the year, specifically in relation to the successful rationalisation of the Group’s cost base and the organisational realignment that has positioned the business for sustainable growth. Management has focused on improving operational efficiency and driving margin improvements, setting a strong foundation for the next fiscal period. Strategic Pillars: Technology and Product The Group continued to invest in its AI, personalisation and data analytics infrastructure during the period. These investments underpin both the enhanced user experience and the performance marketing capabilities delivered through the Group. Early-stage development of an enterprise verification platform has commenced, with initial partner integrations expected to scale in FY26. United States The US business delivered strong growth in the period and has validated the continued controlled investment into one of the world's largest youth markets. The directors consider the US to be an important lever of future Group revenue growth and a primary opportunity to capitalise on previous investments. Acquisitions The directors have commenced an evaluation of selective acquisition opportunities as a means to accelerate the Group's strategic objectives. The focus is on targets that enhance the Group's technology capability, expand its geographic footprint, or provide access to established user bases in complementary segments. Financial Discipline and Margin Expansion Framework The directors are committed to a model of consistent, sustainable, and improving financial performance. The Group's ambition is to demonstrate, year on year, that revenue and EBITDA margins can expand together, leveraging investments made in our products and platforms.
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THE BEANS GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
The directors monitor the following key performance indicators,
Revenue and Growth £29.6M and 5% Operating Profit and Margin £5.5M at 29% Cash and Short term Liquid Assets £8.3M The company considers a range of brand, user and technology key performance indicators on a regular basis. Within the year, the business has proactively managed the effects of the changing economic landscape, including inflation, cost of living challenges experienced by many, and changes in consumer trends. Costs have been managed accordingly, and headroom in capital exists to mitigate any future risk, and to provide agility when strategic opportunities arise.
Principal Risks and Uncertainties
Market Competition The student loyalty and youth marketing space is an attractive one and new entrants continue to emerge. The Group's primary mitigation is the scale of its verified infrastructure and brand relationships, and the depth of its first-party data asset. Economic Conditions The Group has a proven track record of resilience through varying economic cycles. In lower-growth environments, our performance-based model provides a critical layer of revenue stability, aligning revenue with measurable client outcomes. US Expansion Execution Scaling into a new geography carries operational complexity. This risk is managed through a staged investment approach, leveraging proven commercial playbooks developed in the UK and European markets to scale effectively. Technology and Cyber Risk The Group maintains ongoing investment in security infrastructure, holds ISO27001 accreditations, and operates a continuous improvement programme against a defined cybersecurity framework. People and Talent The Group mitigates talent competition through its values-led culture and competitive compensation structures.
The Group enters FY26 with a clear strategic roadmap, a scaled and growing platform, and a strong foundation of verified brand partner relationships. The directors remain firmly of the view that the investments being made in US expansion, data capability, and enterprise solutions will drive significant value-accretive growth.
The board is committed to delivering consistent, sustainable growth in both revenue and EBITDA margins, demonstrating year on year that the Group's platform model generates increasing returns as it scales. Management is confident in the quality of the opportunity ahead.
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THE BEANS GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
This report was approved by the board and signed on its behalf.
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THE BEANS GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The directors present their report and the financial statements for the year ended 30 June 2025.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group 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 Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £4,358,737 (2024 - £3,227,032).
Dividends for the year, amounted to £2,437,101 (2024: £351,887)
The directors who served during the year were:
The Group's operating activities create financial assets and liabilities in the form of trade debtors and trade creditors. These give rise to foreign currency and credit risk. Due to the short-term nature of the remaining assets and liabilities (most are due within 30 days), these risks generally do not result in significant impacts on profit or loss.
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THE BEANS GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
The auditor, Wellers, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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THE BEANS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEANS GROUP LIMITED
We have audited the financial statements of THE BEANS GROUP LIMITED (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 30 June 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated analysis of net debt, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' 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 Group's or the Parent 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 directors with respect to going concern are described in the relevant sections of this report.
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THE BEANS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEANS GROUP LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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THE BEANS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEANS GROUP LIMITED (CONTINUED)
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THE BEANS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEANS GROUP LIMITED (CONTINUED)
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 an Auditor's report 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 Group 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:
Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. We also evaluated the commercial objectives of the Company and assessed managements incentives and opportunities for fraudulent manipulation of results. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax legislation, and distributable profits legislation. Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal expenses for evidence of disputes or litigation; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances and transactions which may be indicative of fraud. No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
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 Auditor's report.
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THE BEANS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEANS GROUP LIMITED (CONTINUED)
This report is made solely to the 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 Company's members those matters we are required to state to them in an Auditor's 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 Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditors
3rd Floor The Coade
98 Vauxhall Walk
SE11 5EL
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THE BEANS GROUP LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
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THE BEANS GROUP LIMITED
REGISTERED NUMBER: 05486885
CONSOLIDATED BALANCE SHEET
AS AT 30 JUNE 2025
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THE BEANS GROUP LIMITED
REGISTERED NUMBER: 05486885
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 23 to 44 form part of these financial statements.
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THE BEANS GROUP LIMITED
REGISTERED NUMBER: 05486885
COMPANY BALANCE SHEET
AS AT 30 JUNE 2025
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THE BEANS GROUP LIMITED
REGISTERED NUMBER: 05486885
COMPANY BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 23 to 44 form part of these financial statements.
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
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COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
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