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2026-03-31-accounts

REGISTERED CHARITY NUMBER 1055753 (England and Wales)

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2026

FOR

SOUTH EAST WALES ENERGY AGENCY

SOUTH EAST WALES ENERGY AGENCY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

Page Report of the Trustees 1 to 5 Statement of Financial Activities 6 to 7 Independent Examiner’s Report 8

SOUTH EAST WALES ENERGY AGENCY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2026

The trustees present their report with the financial statement for the year ended 31 March 2026. The trustees have adopted to present their financial statement on the Receipts and Payments basis

OBJECTIVES AND ACTIVITIES

Charitable objects

Objectives and activities

Public benefit

The organisation’s trustees can confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission. Significant activities that were undertaken during the year that demonstrate public benefit are set out below.

Page 1

SOUTH EAST WALES ENERGY AGENCY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2026

ACHIEVEMENTS AND PERFORMANCE

When the charity was established in 1994 it was the only organization in the region raising awareness of climate change and offering free and impartial advice to the public in ways to combat it through energy efficiency and renewable energy. This was supplemented by providing tangible assistance through securing grant funding to reduce energy consumption in homes through installing insulation, modern heating systems and solar panels. The majority of the charity’s income to fund its free advice service came through managing these grant schemes on behalf of energy suppliers and government.

Now in its 32nd year, the charity is one of the UK’s oldest established Regional Energy Agencies. During this time the charity has provided bespoke advice to over 286,000 households, helped achieve cumulative energy bill reductions of £165 million and reduced lifetime carbon emissions by 594,000 tonnes, the equivalent of planting over 2 million trees. Some £20 million in grant aid had been secured and directly funded improvements to more than 28,550 homes.

The Energy Efficiency and Carbon Reduction Advice Line is a free and impartial service for householders although there has been a move towards on-line activity and responding to email enquiries.

Due to the way in which major home improvement grant schemes were being delivered by both Welsh Government and the energy companies in recent years there has been increased focus on other environmental and fuel poverty activities that fall within the charity’s objectives and included:

Supporting two part-time posts at TogetherWorks in Caldicot to deliver environmental and fuel poverty activities such as:

Distribution of Winter Warmer goodie Bags and Heated Throws through the Monmouthshire Rural Support Unit and Caldicot Food Bank.

The continuation of the Environmental Education project with primary schools which has assisted 17 schools to provide facilities that allowed pupils to gain hands-on experience with food production, including pollinators, food preparation, avoiding produce associated with deforestation, water conservation and renewable energy. Working with Cookalong Clwb we have also supported cooking sessions that enable pupils to prepare healthy meals using both produce they have grown and locally sourced sustainable ingredients.

Page 2

SOUTH EAST WALES ENERGY AGENCY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2026

FINANCIAL REVIEW

Due to the current onerous and high risk contractual conditions associated with managing fuel poverty and environmental schemes for energy suppliers and with Welsh Government now contracting with a single contractor for all of Wales the decision was made to discontinue our managing agent roles. This resulted in the traditional funding streams that were derived from fees for managing these projects ending. Fortunately, due to our level of reserves we have been able to continue with our core activity of providing free and impartial advice to the public. Whilst not managing grant funded improvement schemes ourselves we refer householders into those run by local authorities and trusted local contractors.

Income for the year came mainly from interest on investments and amounted to £79,734 (2024/5: £99,179) with the reduction occurring due to the fall in interest rates. The charity's expenditure in the year amounted to £166,309 (2024/5: £153,296). Despite the current level of income falling below that of expenditure the level of reserves and the interest generated means that the charity will be able to continue delivering its core objectives for some time to come.

Reserves policy

No longer acting as managing agents meant that the charity no longer needed to hold the high level of working capital required to finance such schemes. Therefore the aim is to run down these reserves to fund both the core free advice work as well as funding new projects that support the wider fuel poverty and environmental objectives.

Funds in deficit

There are no funds in deficit.

Principal funders

Due to the high level of reserves and opting out of previous managing agent work in the medium term we no longer require or seek funding from external sources with the exception one small grant of £3,000 from the National Grid Community Fund. This was used to support the Warm Welcome project with TogetherWORKS. As we do not receive or require funding from government, local authorities or energy suppliers our advice can be seen to be truly independent and without bias.

Fund raising code of practice

The charity has never raised funds from the public and currently has no plans to do so. It therefore does not have or need a fundraising code of practice or policy to protect vulnerable donors.

Investment policy

Reserves are held on deposit with security of the funds given a higher priority than higher returns that would introduce higher element of risk. We aim to place funds where returns are competitive and covered at least in part by the UK Financial Services Compensation Scheme.

Expenses of Trustees

The only expenses paid to Trustees of the charity during the year related to travel costs of £165.75 (£181.80 for 2024/5) for attending Trustee meetings.

Page 3

SOUTH EAST WALES ENERGY AGENCY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2026

FUTURE PLANS

With the UK government’s decision to no longer place an obligation on energy supplies to assist households improve the energy efficiency of their homes there is no longer any opportunity to generate funds through managing grant schemes on their behalf. Therefore, the working capitol previously held to manage such schemes will be released to support our wider environmental objectives.

Our main activities will focus on Monmouthshire as that is where the charity is based and so can hopefully make a greater impact by working more closely and in partnership with the local community. To this end we will continue supporting the activities of TogetherWORKS in Caldicot as the centre is now well established in the local community and so an ideal partner to help deliver our shared sustainability and poverty objectives. It can also provide the physical point of contact for the public that we no longer have.

As well as continuing the activities mentioned earlier in last year’s achievements we are now working with TogetherWORKS to provide a local energy advice service to replace the one lost when another organization withdrew from the county when their grant funding ended.

We will be looking to extend some of the successful work we did in collaboration with TogetherWORKS to other local organisations with similar objectives.

The school environmental grant scheme was met with mixed results with some taking full advantage and others no interest whatsoever. The plan is to revisit those that participated to determine if there is further interest in either expanding the previous projects they undertook or if they are new ideas they wish to implement.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document The Charity transferred from a Charitable Company Limited by Guarantee to an Incorporated Charitable Organisation in December 2025. The trustees adopted the Constitution of a Charitable Incorporated Organisation whose only voting members are its charity trustees.

Appointment of trustees

The trustees are appointed by the Board of Trustees and are selected on the basis of their knowledge of the charity's activities, of sustainable energy, energy efficiency, housing, etc. They are usually current or previous funders and so familiar with the management and workings of the charity, as well as the environment in which it operates.

Organisation

The Trustees oversees the charity with the day-to-day management and strategic direction of the charity resting with the Agency Director.

Related parties

The charity has no related parties, trading subsidiaries or financial interest in any other business..

Risk management

The trustees have procedures in place 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 trustees see no risks that would prevent the charity continuing its present activities as a going concern.

Page 4

SOUTH EAST bYALES ENERGY AGENCY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2026 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charity number 1055753 Rogisterod office 8 Dinch Hill Undy CaldiGot NP26 3JL Trusteos Angela M Bassett Jones A Trevor Roberts Margaret Roberts Indopendont Examiner Speedy Bookkeeping ServThs 45 The Nurseries Langstone Newport NP18 2NT Agoncy Dlrgctor Andrew Oavid 8•nk Cooperative Bank 16-17 HvJh Street Cardiff CF101AY Approved by order of the Board of Trustees on 21 April 2026 and signed on their behalf by Andrew DavKI, Agency Director.. Page S

South East Wales Energy Agency No. 1055753 Receipts and payments accounts CC16a For the 01-Apr-25 31-Mar-26 To period from

Section A Receipts and payments

A1 Receipts Unrestricted
funds
to the nearest
£
-
76,576
158
76,734
-
-
76,734
21,003
18,370
75,114
44,212
1,955
2,655
163,309
499
499
163,808
- 87,074
-
1,970,692
1,883,618		 Restricted
funds
to the nearest
£
3,000
-
3,000
-
-
3,000
-
-
-
-
3,000
-
3,000
-
-
3,000
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-

-

-

-

-
-

-
-
-
-
-

-

-

-

-		 Total funds
to the nearest
£
3,000
76,576
158
79,734
-
-
79,734
21,003
18,370
75,114
44,212
4,955
2,655
166,309
499
499
166,808
- 87,074
-		 Total funds
to the nearest
£
3,000
76,576
158
79,734
-
-
79,734
21,003
18,370
75,114
44,212
4,955
2,655
166,309
499
499
166,808
- 87,074
-		 Last year
to the nearest £
-
99,179
99,179
-
99,179
36,543
22,250
84,261
-
-
7,682
2,560
153,296
-
153,296
- 54,117
-
1,970,692
National Grid CommunityFund -
Bank Interest 76,576
Cheque not cleared + VAT
adjustment		 158
Sub total(Gross income for AR) 76,734
A2 Asset and investment sales
Sub total
Total receipts
A3 Payments - Activity based
Advice Centre 21,003
HealthyHomes 18,370
Education 75,114
TogetherWORKS 44,212
National Grid - Warm Welcome 1,955
Strategic
Governance 2,655
**Sub total ** 163,309
A4 Asset and investment
purchases
IT Equipment 499
Sub total
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
- 87,074 -
-		 - 87,074 - 54,117
- -
-		 - -
1,970,692 -
-		 1,970,692 1,970,692
1,883,618 -
-		 1,883,618

Section 8 Statement of assets and liabilities at the end of the period Unrestricted Reslrfcted fun funds to n•ar••t £ to ne•r••t £ Endowment funds Cgteuorles Detal to nv*rg•t £ B1 Cash funds Cash in bank 1.883,618 Total cash lunds 1,883,618 Unrwtrlctrd Restrlctod Endowmenl fund8 fund¥ funds to n••r•st £ Dfrlails B2 Other monetary assets FUNI t•whlch •t Wong• urr8nt Y•ly• optlonall O•tsl None Colt lopUon•ll 83 Investment assets Fund to whlcll Co•t loptlon•ll Curr•nt VAIu• loptlon•ll Delalls Vehicle B4 Assets retaln8d ft>r th• Charity's own u80 Unre51ricted IT equpment Unresliided Fund to whkh Il•MTrty T•l•t•• Amount du• loptlonlll Yth•n du• 1optlon411 86 Llablllll48 None Slgned by one or bvo trustees on b•haW of all the tru81ees Slgnatu Print Name Datè of approval Austin TfevoT Roberts

CHARITY COMMISSION FOR ENGLANO ANO WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to th• trusteesl mom￿r$ of South East Wales Energy Agency On accounts for the year •nded 31 Ma￿h 2026 Charlty no (if any) 1055753 Set out on pago$ 1-8 I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year 8nd8d 3110312026. Re8pon8ibilitie8 and As the charity trustees of the Trust, you are responsible for the preparation basls of rèport of the accounts in accordance with the requirements of the Charities Act 2011 ('Ihe Acr). I report in respect of my examination of the Trust's accounts carried out under section 145 of Ihe 2011 Act and in carying out my examination. I have followed the applicable Directions given by the Charity Commission under section 1445Xb) of the Act. I have completed my examination. I confimi that no material matters h8ve come to my attentK)n. Independent examinerfs statement I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in order lo enable proper understanding of the accounts to be reach8d. Slgned: Date: 0510612026 Nam•: S Parry for Sp88dy Bookkeeping Services Rèlevant professional qualification{8) or b¢xly (If any): Addross: 45 The Nurseries Langstone Newport NP18 2NT Section B Disclosure Only complete if the examiner needs to highlight rnatters of concem (see CC32. Independent examination of charity accounts: d1￿CtionS and guidance for examiners). IER October 2018

Give here brief details of any items that tho examiner wishes to disclose. Not applicable. IER October 2018