**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**
- To advance the education of the public within South East Wales in energy conservation and the efficient use of energy, land, water and other natural resources, transport and waste recycling.
- To conserve and protect natural resources.
- To relieve those in need by the provision of advice and assistance including advice in the more efficient and economical use of energy in their homes.
## **Objectives and activities**
- Raising awareness of climate change and fuel poverty through various media
- Providing a free Telephone Advice Service to the public and landlords on all matters relating to the utilization of energy and renewable energy generation
- Renewable energy promotion advice and presentations
- Training and supporting community groups and local organisations to eliminate fuel poverty and unhealthy cold and damp homes
- Providing support to local schools to enable pupils to have “hands on” experience with environmental projects
- Supporting other local community groups who can help us deliver our wider environmental and fuel poverty objectives.
## **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:
- Distributing cooling fans to vulnerable households during the summer heat waves
- Distributing Winter Warmer goody bags in the winter
- Distributing Heated Throws for people who could benefit from additional localized heat
- • Distributing Easy Living items to people with reduced mobility to help them economically control electrical equipment and lighting
- Supporting cooking classes based around nutritious ingredients and economical air fryers
- • The “Warm Welcome” program during the cold winter months
- Various classes and groups based around reuse and waste minimisation
- • The “Makers Space” workshop teaching woodwork skills using waste materials as well as repairing items.
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
momr$ of South East Wales Energy Agency
On accounts for the year
•nded
31 Mah 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: d1CtionS 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