Registered number: 03443349
Charlty number: 1070942
THE MARCHES ENERGY AGENCY
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
WR
Partners
Protecting your future.

THE MARCHES ENERGY AGENCY
(A company limlted by guarantea)
CONTENTS
Page
Reference and admlnlstratlve detalls of the Company, its Trustees and advlsers
Trustees. raport
2-10
Independent auditors, report on the financial statements
Statement of financial activities
15
Balance sheet
16
Statement of cash flows
17
Notes to the financlal statements
18-33

THE MARCHES ENERGY AGENCY
(A Company limltsd by guaranl¢e)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ￿VISERs
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Chrlslopher Deaves. Chalr (appolnted 16 May 2023)
Andrew Bryers (resigned 26 May 2023)
Angela Cattem￿le (appointed 29 February 2024)
Frances Cullen
Rufus Dean (apFointed 29 February 2024, resigned 16 June 2024)
John Green (appolnted 18 Juty 2024)
Sarah Hopkins (resigned 4 Decemb8r 2024)
Elllot Jones {appolnted 16 May 2023)
Stephen Marsh (reskJned 4 October 2023)
Dr Mark Smith (resigned 7 June 2023)
Company reglstered
numb8r
03443349
Charlty reglstered
fturn￿r
1070942
Reglstered office
The Pump House
Coton Hill
Shrewsbury
SY12DP
Independent audltors
WR Partners
Chartered Aco)unlants
ststutory Audltors
Belmont House
Shrewsl)ury Business Pa
ShrvwsI￿ry
Shropshlre
SY2 6LG
Bankers
The Cowoperative Bank
P.0. Box 250
Skelmersdala
WN8 6WT
Trlodos Bank
D￿nery Road
Brlstol
BS15AS
ExKutlve Dlrector
Simon Ross (resigned 31 July 2023)
Chlef Execullve
Anna Brennand (appolnted 29 Febwary 2024)
8enlor Management
Team
Davina Allen - Operatl(ns Manager
Phllip Towers - 8usines8 Support Man89er
Julie Birtles - Finance Manager
Page 1

THE hlARCHES ENERGY AGENCY
IA company limlteql by guarantso)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 IIARCH 2024
The Trustees present their annual report together with the financial ststements of Ihe company for the ￿ar
ended 31 Marth 2024. The Trustees qx)nfirm that Ihe Annual Report and financial statements of the company
comply with the currenl slatutory requirements, the requirements of the companys goveming document and the
provisions of the Statement of Recommended Practi￿ (SORP). applicable to charittes preparing their accounts
in accordan￿ wsth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
(update effective 1 January 2019).
Slnce the Lx)mpany qualifies as small under section 383, the StraI￿￿1C report requlred of medium and large
companies under The Comp￿leS Act 2006 (Strateglc Report and Direclo¢s Report) Regulations 2013 is not
required.
Marches Energy Agency (MEA). a registered charty. is a company limited by guarantee and, not having share
(*pital, is govemed in accordance with the provisions contained in Its Arllcl68 of Association. The tharity
operates under the name The Mar&Es Energy Agency.
ObJectlve8 and actMtle¥
. Pollcles and objectlves
Marches Energy Agency is a tharity working wlth IrKlivlduals, organisatlons, and communltles In the East and
West Midlands and beyond. MEA spe(xalises In the dellvery of practlcal. effective. and creatlve ways of
promotlng energy reductton and renewable energy solutions.
MEA grew out of the Shropshire Energy Team, which was established within Shropshir8 County Council with
European fundlng In 1995. In 1998, it became an irKlependent charitable compary. MEA receives no public
subsidy. and fundtrKJ to empby its staff members comes from energy efficiency and renewable energy projects.
More infomiatlon about Marches EnergyAgency and its activities are on the MEA website at vThM.m8a.org.uk.
The charitable objectives of Marthes Energy Agency are:
The advancement of education for the publlc tEnefiL In p8￿CUlar. but not exclusively, in relation to
energy conservalion, the effictent use of energy and the utillsation of renewable sources of energy.
The promotion. conseNallon. enhancement and improvement of the envlronment and Ihe
encouragement of understanding and awareness of the importar￿e of sustainable development in
particular t)ut not 8xdusively in the Marches area of Engl￿d and Wales.
The relief of poverty and the preservation and protection of health by promoting the efficient use of
eneryy {includlng energy for heating purposes) and utillsalion of renewablo styjrceg of energy.
MEA Vlsion
We see a future in which bulklings are warmer and theaper lo run; where those mosi in need Ilve In warm and
secure homes. where carbon emissions and energy use are being significanlly reduced In Ilne wlth carbon
budgets. where trusted local Inslallers have the confidence and technologles In place to athieve the raductions;
and vthere people and communlttes are engaged in ltrese changes.
Page 2

THE MARCHES ENERGY AGENCY
IA company limlted by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectlves and actlvltles (contlnued)
Business Plan Objectives
MEA'S business plan sets out objectives for the following year. as well as longer term goals. The three main
sections are.. delivery, development and operations.
b. Activities undertaken to aGhieve objectives
Context
The Financial Statements for the year 2023-2024 are set out on pages 1 &34 of the financial statements.
2023-24 has seen further growth in staffing numbers, with the number of staff at 46 by the end of the year. A
number of larger projects entered their second year and successful applications for repeat funding has helped
drive growth. Demand for our services has been very high throughout the year. with the winter of period in
particular seeing significant numbers of customers and partner agencies seeking our expertise for energy
advice, customer joumey support for household energy efficiency grant sch8mes and training. In addition, there
has been a modest growth in our community focused activities, as vrfell as building retrofit capability and
expertise amongst communities, installers and households who are undertaking self-funded works. MEA'S
reputation as a leading authorty in the region on l)ome energy efficiency and climate awareness, has been built
on the increasing expertise of staff, both technically and with respect to supporting vulnerable customers. A
strong track record of ¥ucGessful delivery and partnership has allowed us to secure repeat and new funding in
the form of grants, service level agreem8nts and some private donations.
MEA'S geographical footprint has remained stable. Activty has grown in Shropshire, as well as in Telford &
Wrekin, with the Telford Energy Advice project continuing to bring together local partners and expertise and a
strongar relationship with the Local Authority. Work in the East Midlands continues to flourish, with successful
work on the Warmer Derby & Dert)yshire project, Sustsinable Wamith and Fuel for Food schemes helping us
provide a comprehensive 8nergy advic8 service for residents, as well as cement our reputation with partners in
the region. In the Black Country, which includes, Sandwell & Dudley and Wolverhampton, we retain our
Customer Journey Suppart services for the Sustainable Wamith programmes.
Looking to the future, we will continue to build on our services to meet the expected need in householder support
for increasing the energy efficiency of homes and reducing energy costs to meet basic needs. In addition, as the
present and future consequences of ctimate change become ever more urgent, sustsined, and meaningful
action to reduce carbon emissions will require coordinated action, including at a local and communty level.
Summary
In Financial year 2023-24 MEA prOV￿ed energy advice and support to over 14.500 householders, providing
energy advice over the phone and in person at events. We visited over 800 homes to give more detailed energy
advice and support. We have worked with 319 organisations and trained over 450 front-line workers to deliver
energy advice. and referring on for further support including energy efficiency measures, financial advi￿, and
crisis interventions. Energy efficiency measures, installed as a result of referrals to over 1,000 homes, include Air
Source Heat Pumps, internal and extemal wall insulation. energy eff￿lent storage heaters and solar PV.
Page 3

THE MARCHES ENERGY AGENCY
IA company Ilmited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities Icontlnued)
Progress Agalnst Buslness Plan
MEA'S business plan sets out objectives for the following year. as well as longer temi goals. Devebpment has
been in conjunction with personnel at all Jevels and progress is shared at Trustees meetings. as well as regularly
with staff. The three main sections of the plan are: delivery, development and operations.
Delivery - key achievements and developments include:
Providing a positive response for struggling households through the energy crisis. Our energy advisors have
continued to provide a triaged Se￿iCe throughout an extremely busy winter. We have increased the capacty of
others to provide basic advi￿, through training, working through partner agencies to provide financial guidance
and guidance support and the provision and dissemination of up to date materials. Our support is therefore
focused on those cases where our energy expertise and access to funding is most impactful.
Building positive relationships with trusted in5tall8rs was identified as key to enabling householders to a￿$S
appropriate energy efficiency measures that are fitted in a tim8ty way. Whilst the instsbility of the wider policy
landscape, grant schemes and rapid technological innovation have all created significant challenges for
installers, particularly smaller locally based businesses, the organisation has continued to work strongly
throughout our projects to build constructive relationship with installers on our framework and those procured by
council run schemes.
Development- key achievements and developments include:
Strengthening support for complex households. MEA has developed a te8m-based approach to supporting
households with complex needs, allowing access to a rang8 of project 8pKIf￿ expertise. We aspire to a make a
lrfe changing difference to households, which Can be captured and shared 88 case studies.
We hav8 also developed our expertise and capability to deliver a 'whole house approach, to retrofrt, in
accordan￿ with current frameworks such as PAS 20-35. Staff have accessed specialist ￿trofit training, and we
now have capacity to deliver Energy Performance Certificates and Retrofrt Assessments in house. We have also
developed an innovative new Heat App through funding support from Cadent, which will provide detailed
infomiation on potential energy savings for householders through analysing their use of appliances and energy in
their home.
Operations- key achievements and developments include:
Senior Managers have focused on building stsff Confiden￿ to act. for example through a focus on this at our
Away Days. Due to increasing opportunities. a number of staff have received internal promotions and continue to
grow the breadth of expertise and succession strategy should that be required. We have also been building our
financial reporting structures and strengthening intemal controls and processes, including the introduction of a
new accounting system.
Area based activity
Cross area collaboratton, partnership working and building the capacty of other organisations has continued to
feature strongly in our work. We have introduced cross-area managerial roles. including an Advtce Service
Manager and Senior Project Manager for Retrofit. These managers work closely with the Area Leads to ensure
any work is appropriately tailored to local needs. Our Sustainable Warmth Customer Joumey Support Teams for
Derbyshire. Marches & the Black Country, for example. work collaboratively across areas to share insights, as
well as with the local delivery teams and on the ground support. MEA has been Contracted to deliver home visits
and telephone advice across our areas as part of a continuing partnership with Cadent.
Page 4

THE MARCHES ENERGY AGENCY
IA company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities (continued)
Shropshlro, Tolford & Wrekin
Activity in Shropshire, Telford & Wrekin is undertaken by the Marches Team, much of it under the local branding
of Keep Shropshire Wami and Telford Energy Advice.
In Shropshire. MEA has continued to work closely with Shropshire Council to deliver Keep Shropshire Wann and
has deliveraj multiple energy advice and capital retrofit projects for householders under this branding. These
include..
Heafthy Homes Shropshire, which has 8ecured repeat funding through Energy Redr88S.
Customer journey support for the Sustainable Warmth programmes, prinGipally the Home Upgrade 2
{HUG2) projects).
South Shropshire Climate Action community project.
In Telford & Wrekin, Telford Energy Advice has continued to act as the main point of contact for energy advice
for residents. Wtth Telford & Wrekin Council MEA has delivered top up funding for granls for home energy
efficiency works as well as providing home visits and advice as part of projects funded by Western Power
Distribution and others. We have also taken on management of their EC04 process, and deliver the Customer
Journey Support for HUG2, as part of Marches wide funding.
In Shropshire and Telford & Wrekin we have delivered, monitoring and evaluation work as part of the Connexus
Wamier Homes Project, Age UK Home Energy Checks, small grant and crisis funding including prepayment
meter vouchers.
Derby & Derbyshlre
Our Derby & Derby8hire Team 18 well estsblished and integrated within the area.
The Warmer Derby & Derbyshire project has progressed and the partnership5 Wlth Boznia and
Herzegovina Society in Derby and Sahahra hub in Derby have worked well.
Fuel for Food, supporting fo¢xI bank users in Derbyshire with energy advice, debt support, small energy
efficiency measures. The project has provided vital support for vary vulnerable households during the
energy crisis.
Customer journey support for HUG2, in partnership with local councils.
Dudley. Sandwell, Walsall & Wolverhampton (Black Country
MEA delivered Customer Journey Support for the HUG2 programme.
c. Stafflng
During the year Simon Ross, the chartys k)ng-serving Director stepped down and Trustees started the
recruitment process to appoint a new CEO. Simon has been involved with MEA since 2007 and became Director
in 2014. During his tenure he grew the organisation from a tumover of £220k to £2.9m in 2023124 and introduced
many initiatives induding phone help lines. support for householders with energy debt, 8vants, training sessions
and many new projects.
In February 2024 Anna Brenn8nd w8S 8ppointed as MEA'S new CEO. Anna brings a wea￿h of experience from
leading a variety of different charities, having worked in the sector since 2007. Most recently, Anna was Director
at the Sidney Nolan Trust, an arts chartty based in Herefordshire. Anna was also previously Chief Executive at
the Cabrach Trust in north-east Scotland and the Ironbridge Gorge Museum Trust, one of the largest
independent museums in the worfd. Anna is also a qualifEd accountant and previously worked as UK Finance
Director for FTSE 100 li8ted ICAP PLC for 10 years.
Page 5

THE MARCHES ENERGY AGENCY
IA company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities Icontinued)
d. Volunteers
MEA welcomes volunteers for limited roles within the charity. In the past year, three people have volunteer8d for
MEA. In addition, all Trustees are volunteers.
e. Maln actfvltles undertaken to further the Company's purposes for the public benefit
In setting objectives and planning for activities, the Trust88s hav8 given due consideration to general guidance
published by the Charity Commission relating to public benefit and in particular to its supplementary public
benefit guidance.
Achievements and performance
. Revlew of actlvltles
The major expenditures in the past year have included:
Wages and salaries
s￿la1 security costs
Project costs
Offi'ce expenses
The charity's funds have all been applied in accordanrE with its objects. The charity's assets are all being
maintained in furtherance of these objects.
b. Investment pollcy and perk>rniance
Under the Memorandum and Articles of Association, the charity has the power to invest and deal with the moni8S
of the charity, not immediately required for the purposes of the Objects, in investments and securities. During
this reporting p8ri0d such monies have b88n placed in an interest-bearing account.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate
resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt
the going concem basis in preparing the financial statements. Further details regarding the adoption of the going
concem basis can be found in the Accounting Policies.
Page 6

THE MARCHES ENERGY AGENCY
IA company limited by guaranteel
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
b. Reserves policy
MEA employs 46 staff, all of whom have a specialised knowledge and experience. Retaining this workforce in
orderto maintain our services to the communty is reflected in these reserves. Funding our projects is an area in
constant change and our reserves are flexed to reflect this. The Policy agreed by the Board of TrUSt￿S is to aim
for a minimum reserves level of £265,497. This level of reserves is sufficient in order for the Charity to settle any
non-cancellable liabilities as they fall due. including statutory staff costs.
The free reserves at the end of the year stocrfl at £325,054 (2023: £285,518) and indicate a sufficient level of
reserves to meet these commitments at year end. Forecasts indicate Trustees would expect to increase free
reserves over the next 12 months.
c. Prfnclpal rfsks and uncertalntles
The Board of Trustees have explored and assessed the major risks to which the charity IS 8xposed. notably
those relating to the operations and finances of the charity, and are satisfied that systems are in place to mitigate
exposure to the major risks facing the charity. The adoption of a reserves policy has provided a guid8 to the level
of reserves necessary to address any major risks that could potentially arise.
d. Income generation
The main sources of income during the last year have been from:
Local Authorities including..
Dert)yshire County Council
Nottinghamshire County Council
Shropshire Council
Telford & Wrekin Council
He￿f0rdshi￿ Council
Age UK Shropshire, Telford and Wrekin. and Hereford & Localities
Department of for Energy Security and New Zero (DEZNZ)
Connexus Housing
Wrekin Housing Group
Western Power Distribution (National Grid).
Cadent Gas
Electricty North West
Energy Redress scheme run by Energy Saving Trust
A variety of public, private and charitable sources
e. Summary
MEA has increased unrestricted reserves again this year. In addition, the pipeline of potential work is looking
encouraging and long-standing customers continue to SUPF)Ort our work. MEA will continue to trim costs and
overheads where possible.
Page 7

THE MARCHES ENERGY AGENCY
{A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management
Constitution
Marches Energy Agency, a registered charity, is a company limited by guarantee and registered in England and
Wales. Not having share capital, it is governed in accordance with the provis￿n$ contained in its Articles of
Associatron. The Charity operates under the name The Marches Energy Agency.
b. Methods of appointment or election of Trustees
The management of the company is the responsibilty of the Trustees who are elected and Cc￿0Dted undÈr the
temis of the Memorandum and Articles of Association.
c. Organisational structure and d￿l$lOn￿makJng policies
The Executive Director. Simon Ross, resigned on 31st July 2023. An Interim Management Committee was
appointed by the Trustees to manage day to day operations, until the new Chief Executive Officer joined in
February 2024.
d. Pollcles adopted for the induction and training of Trustees
All potential new Truste8s are briefed on the work of MEA by the CEO and by the Chair of Trustees. All new
Trustees are provided with a copy of MEA'S Memorandum and Articles and with a copy of the Charity
Commission's CC3 - The Essential Trustee what you need to know guide, which they read. as well as
undertaking a programme of induction.
. Pay policy for key management personnel
MEA'S pay for key management personnel is reviewed annualty by the Board and recommendations
implemented on 1 October each year.
f. Related party relatlonships
All Trustees are volunteers, and no remuneration is paid. Travel expenses may be reimbursed, if requested by a
trustee. All Trustees complete annual confiict of interest forms. There have been no transactions with those
persons and entibes that are dosely connected to the charity or tts Trustees.
g. Financial risk management
The Board of Trustees have explored and assessed the major risks to vthi¢h the charity is exposed, notabty
those relating to the operations and finances of the Gharity and are satisfied that systems are in place to mitigate
exposure to the major risks facing the charty. The adoption of a reserves policy and the meeting of the reserves
target Identified within that policy have further mitigated exposure to the major risks facing th8 Charity.
h. Trusteos. indemnltles
MEA holds appropriate levels of Professional Indemnity and Public Liability Insurances as protection against
errors of judgement and mistakes in our professional undertakings.
Page 8

THE MARCHES ENERGY AGENCY
(A company limitsd by guarantee)
TRUSTEES, REPORT (CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
Plan8 for future perlods
MEA will continue to develop its offer and support for ￿e1 poor householders including understanding bett8r the
health and wellbeing benefits of our work. MEA will also be looking to develop its climate change work again,
after a long perii)d of very limited work and a difficult Folicy environment.
Statement of Trustees, r8sponsibilities
The Twstees (who are also the directors of the Company for the Purposes of company law) 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 Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law,
the Trustees must not approve the financial statements unless they a￿ satisfied that they give a true and fair
view of the state of affairs of the Company and of its incoming resources and application of resources, including
ts income and expenditure, for that period. In preparing these financial statements, the Trustseg are requirad to:
select suitabl8 accounting policies and then appty them consislently.,
observe the methods and principles of the Charities SORP {FRS 102),.
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any mat8rial
departures disclosed and explained in the financial statements"
prepare the financial statements on the going concern basis unles8 it is inappropriate to presume that the
Company will continue in business.
The Trustees are responsib18 for ke8ping adequate accounting records that are sufficient to show and explain
th8 Companls transactions and disclose with reasonable accuracy at any time the financial position of the
Company and 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 hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Disclosure of Infomiation to auditors
Each of the persons who are Trustees at the time when this Trustees, report is approved has confim)ed that:
so far as that Trustee is aware. there is no relevant audit information of which the charitls auditors are
unaware,. and
that Trustee has taken all the steps that ought to have been taken as a Trustee in ordèr to ￿ awar8 of
any relevant audit information and to establish that the charivs auditors are aware of that infonnation.
Page 9

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Audltors
Appointment of auditors, for the next financial year, is b8ing considered by Trustees. The designated Trustees
will propose a motion to appoint auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Chrlstopher Deav
Chair
Date:
Page 10

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARCHES ENERGY AGENCY
Oplnlon
We hwrfe audf(ed the financial statements of The MarGhes Energy Agency (the 'charitable company) for the year
ended 31 March 2024 which comprise the statement of financial activities, the balan￿ sheet, the statement of
cash flows 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 our opinion the financial statements=
give a true and fair view of the state of the charitable companvs affairs as at 31 March 2024 and of its
incoming resources and application of resources, including its income and expenditure for the year then
ended;
have been properly prepared in accordanc8 With United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those stsndards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We ar8 independent of the charitsble company in accordance
with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council'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 concem
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 hav8 P8rform8d, 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 abilty to
continue as a going con￿rn 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 concem ar8 d8scrib8d in the
relevant sections of this report.
Page 11

THE MARCHES ENERGY AGENCY
{A Company limited by guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE MARCHES ENERGY AGENCY
(CONTINUED)
Other inforniation
The other infomiation comprises the infomation included in the annual report other than the financial statements
and our auditors. report thereon. The Trustees are responsible for the other information contained within the
annual report. Our opinion on the financial ststements does not cover the other information and, except to th8
extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is to read the olher infonnation and, in doing so, consider whether the other infomiation 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 mat8rial inconsistencies or apparent material
misststements, we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we hav8 pèrformed, we conclude that there is a material
misstatement of this other infonnation, we are required to report that fact.
We have nothing to report in this regard.
Matters on whlch we are required to report by exception
We have nothing to report in respect of the fr)Ilowing matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if. in our opinion..
the infomiation given in the Trustees, report is inconsistent in any material respect with the financial
statements,. or
sufficient accounting records have not been kept., or
the financial statements are not in agreement with the accounting records and returns; or
we hav8 not receiv8d all the information and explanations we require for our audit.
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 satlsfied that they give a true and fair view, and for such int8rnal control as the
Trustees delemiine is necessary to enable the preparation of financial statements that are free from material
misststement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable companys abilty
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
conc8rn basis of accounting unless the Trustees either intend to liquid8t8 th8 charitsble company or to cease
operations. or have no realistic alternative but to do so.
Page 12

THE MARCHES ENERGY AGENCY
(A company Ilmlted by guarantee)
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF THE MARCHES ENERGY AGENCY
(CONTINUED)
Auditors. rasponsibilitias for th6 audit of tha financial statèments
We have been appointed as audttor under section 144 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as 8 whole are free
from material misstatement, whether due to fraud or error, and to issue an auditors, 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 rf, individualty or in the eggregate, they could reasonably be
axpected to influence the economic decisions of users taken on the basis of these financial statemenls.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilit18S, Outlined above. to d8t8Ct material misstat8m8nts in respect of irregularities.
including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is
detsiled below.
. We reviewed the susceplibility of the charitable Compsnrfs financial statements to material misstatement and
identified the principal risks, implementing a series of testing procedu￿8 to provide us with sufficient comfort to
issua our opinion.
. We reviewed the charitable Company's regulatory environment to ensure we could conclude that it had acted in
accordance with the framework relevant to the charitable Company and its environment and identfy any
instances of non-compliance.
. We also assessed the charitable Companys internal control procedures to ensure we could appropriately
scrutinise these controls and establish whether our understanding of the control environment was sufficient to
supplement our additional testing procedures.
The engagement team consisted of 8 team that the engagement partner believes is equipped with the
relevant level of technical and charitable Company awareness to carry out our work to the r8quired standard.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstat8m8nt in the financial statements or nonwcompliance with regulation. This risk
increases the more that compliance wrth a law or regulation is removed from the events and transactions
refiected in Ihe financial statements, as we wtll be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
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.or
.ukl8uditorsres
onsibilities. This description forms part of our
auditors, report.
Page 13

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF THE MARCHES ENERGY AGENCY
(CONTINUEDI
U88 of our report
This report is made solely to the charitable Company's trustees. as a body. in accordance with Part 4 of the
Charities (Accounts and Reports} Regulations 2008. Our audit work has been undertaken so that we might state
to the charitable Company's trustees 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, y￿ do not accept or assume responsibilty to anyone
other than the charitsble Company and its members. as a body, for our audit work, for this report, or for the
opinions we have fonned.
WR Partners
Chartered Accountants
ststutory Auditors
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
Date:
WR Partners are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 14

THE MARCHES ENERGY AGENCY
{A company Ilmlted by guarante8)
STATEMENT OF FINANCIAL ACTivmES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Restrlcted
funds
2024
Unrestricted
funds
2024
Totsl
fvnds
2024
Total
funds
2023
Income frorn:
Donations and legacies
Charitable activities
Investments
50.5T1
2.848.308
641
51.212
2,848.308
2.535
51.694
2.095,957
418
2.535
Total income
2,898,879
3.176
2.902.055
2, 148,069
Expendlture on:
Charitsble activities
2,550.317
2.550.317
2, 176. 125
Total expendlture
2.SS0.317
2,550.317
2, 176, 125
Net incomel(expenditure)
Transfers between funds
348.562
{35,843)
3,176
35.843
351,738
(28,056)
13
Net movement in funds
312,719
39.019
351.738
(28,056)
Reconciliation of funds:
Totsl funds brought fonvard
Net mov8ment in funds
144.486
312,719
297.540
39,019
442.026
351.738
470,082
(28,056)
Total funds carrled fO￿ard
457,205
336,559
793,764
442,026
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 18 to 33 fonn part of these financial statements.
Page 15

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
REGISTERED NUMBER: 03443349
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed a888ts
Tangible assets
10
11,$05
12,022
11,505
12,022
Current assets
Debtors
Cash at bank and in hand
11
453.341
663.611
55T,611
170,441
1.116.852
728,052
Creditors.. amounts falling due within one
year
12
(334,593)
(298,048)
Net current assets
782.259
430,004
Total assets less current liabilities
793,764
442,026
Total net assets
793,764
442,026
Charity funds
Restrided funds
Unre5trided funds
13
13
457.205
336.559
144,486
297,540
Total funds
793.764
442,026
The entty was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section
476 of the Companies Act 2006.
However, an audit is required in accordance with section 144 of the Charities Act 2011.
The Twstees athnowledge their responsibilities for complying with the ￿qu1￿MentS of the Act with respect to
accounting words and preparation of financial statements.
The financial statements have been prepared in accordance with the provision5 applicable to entities subject to
the small companies regime.
The financial ststements were approved and authorised for issue by the Trustees and signed on their behalf by..
Chrlstopher Deaves
Chair
Date..
Page 16

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Note
Cash flows from operating activities
Net cash used in operating activities
16
499,527
(271,391)
Cash flows from investing activities
Dividends, inte￿st5 and rents from investments
Purchase of tangible fixed a88et8
Proceeds from sala of tangibl6 fixèd as88ts
{2,636)
(3.922)
(418)
(4, 637)
Net cash (used in)Iprovided by investing activitles
(6,457)
Cash flows from financing activities
Net cash providod by financing activities
Change in cash and cash aquivalonts In the year
Cash and cash equivalents at the beginning of the year
493,070
(269,546)
439,987
170.441
Cash and cash equlvalents at the end of the year
17
663,511
170,441
The notes on pages 18 to 33 fomi part of these financial statements
Page 17

THE MARCHES ENERGY AGENCY
(A company Ilmlted by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General information
The Marches Energy Agency 18 a private company limited by guarantee, incorporated in England and
Wales. with its registered office and principal place of business at The Pump House, Coton Hill,
Shrewsbury. SY12DP.
Accounting policies
2.1 Basis of preparat5on of financlal statements
The financial statements 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) (update eff8Ctive 1 January 2019), the Financial Reporting
Stsndard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Marches Energy Agency meets the definition of a public benefrt entty under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otheNiise stated in
the relevant accounting policy.
2.2 Company status
The company is a company limited by guarantee. The members of the company are the Trustees
named on page 1. In the event of the company being wound up, the liabilty in respect of the
guarantee is limited to £10 per member.
Page 18

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles (contlnued)
2.3 Income
All income is recognised once the Charty has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Grants are included in the statement of financial activities on a receivable basis. The balan￿ of
income received for Specif￿ pU￿ose8 but not expended during the period is shown in the relevant
funds on the balance sheet. Where income is received in advance of entitlement of receipt, its
recognition is deferred and induded in creditors as deferred income. Where entitlement cccurs
before income is received, the income is accrued.
Donated services or facilities are recognised when the Charity has control over the item, any
conditions associated with the donated item have b88n met. the receipt of economic benefit from the
use of the company of the item is probable and that economic benefit can be measured reliably. In
accordance with the Charities SORP (FRS 102). general volunteer time is not recognised and refer to
the Trustees, report for more infotmab'on about their contribution.
On receipl donated professional Se￿iceS and faciliti'es are recognised on th8 basis of the valu8 of
the gift to the Charty which is Ihe amount it would have been willing to pay to obtain seprfices or
facilities of equivalent economic benefrt on the open market" a corresponding amount is then
recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations re￿iVed under Gift Aid or deeds of covenant is
recognised at the time of the donation.
other income is recognised in the period in which it is receivable and lo the extent the goods have
been provided or on completion of the service.
2A Expenditure
Expenditure is recognised once there is a legal or constwctive obligation to transfer economic benefrt
to a third patty, it is pri)bable that a transfer of economic beneffts will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activty are made up of the total of direct costs and shared costs. including support cost8
involved in undertaking each activty. Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activty and support costs which are
not attributable to a single ￿1vty are apportioned between those activities on a basis consisterrt with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges alk)cated on the portion of the asset's use.
Charitable activities and Governance costs are costs incurred on the company's operations, including
support costs and costs relating to the governan￿ of the company apportioned to charitable
activities.
2.5 Tangible flx8d assets and depreciation
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate
that the carying value of any fixed asset may not be recoverable. Shortfalls between the carrying
value of fixed assets and their recoverable amounts are recognised as impairments. Impaimient
losses are recognised in the Statement of financial activities incorporating income and expenditure
account.
Page 19

THE MARCHES ENERGY AGENCY
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcles (contlnued)
2.5 Tanglble fixed assats and depreclatlon (continu8d)
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment.
Depreciation is provided at rates calculated to write off the Cost of fixed assets, less their estimated
residual value, over their expected useful lives on the following bases..
Office equipment
Computer equipment
5 year straight line
5 year straight line
2.6 Golng concern
The financial ststements have been prepared on the going concern basis.
The Trustees assess whether the use of the going concern basis is appropriate, i.e. whether there
are any mat8rial uncertainties related to events or conditions that may cast significant doubt on the
abillty of the Charity to continue as a going cOn￿rn. The trustees make this assessment in respe
of a period of one year from the date of approval of the financial statements.
2.7 Debtors
Trade and other debtors are recc•Jnised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid n8t of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short4erm highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a resutt of a past
event, it is probable that a transfer of economic benefft will be required in settlement. and the amount
of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company
anticipates it will pay to sett18 the debt or the amount it has received as advanced payments for the
goods or services it must provide. Provisions are measured at the best estimate of the amounts
required to settle the obligation. Where the effed of the time value of money is material, the provision
is based on the present Value of those amounts. di8count8d at the pre-tsx discount rate that reflects
the risks specific to the liabilty. The unwinding of the discount is recognised within interest payab18
and similar charges.
Liabilities are recognised at the amount that the Company anticipstes it will pay to settle the debt or
the amount it has received as advanced payments for the g¢)ods or services it must provide.
Provisions are measured at the best estimate of the amounts r8quired to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that refleds the risks specific to the liabilty. The
unwinding of the discount is recognised in the statement of financial activities as a fi'nance cost.
Page 20

THE MARCHES ENERGY AGENCY
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
A¢Gounling policies (continued)
2.10 Financial instruments
The Charty only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequent
measured at their settlement value with the exception of bank loans which are subsequently
measured at amort15ed cost using the effectNe interesl method.
2.11 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity to the fund in respect of the year.
2.12 Fund accounting
General funds are unrestricted funds which are available for use at th8 discretion ol the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to th8 financial
statements.
Restricted funds are funds which are to be used in accordance wth specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specrfic fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are albcated to the appropriate fund.
Income from donations and legacies
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
fvnds
2023
Donations
50,571
641
51,212
51,694
Total 2024
50,571
51.212
51.694
Total 2023
1,694
5q,694
Page 21

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from charitsble activitles
Restricted Unreslricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Prt48Ct income
2.848,308
2.848.308
2,095.957
Total 2024
2,848.308
2.848,308
2,095, 957
Total 2023
2,095,809
148
2,095,957
Investment income
Unrestrictad
funds
2024
Total
funds
2024
Total
funds
2023
Investment income
2,535
2.$35
418
Total 2024
2,535
2,636
418
Total 2023
418
418
Page 22

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Anatysis of expenditure by activities
Actlvltles
undertaken
directly
2024
Support
costs
2024
Total
fund8
2024
Total
fvnds
2023
Charitable Activities
2,186,126
364.191
2.550.317
2, 176. 125
Total 2024
2,186,126
364,191
2,550.317
2, 176, 125
Total 2023
1,916,572
259,553
2, 176, 125
Analysis of direct costs
Total
funds
2024
Total
funds
2023
Actlvltles
2024
Wages
Project costs
1,074,508
1,111,618
1,074.608
1.111.618
846,424
1.070. 148
Total 2024
2,186,126
2.186,126
1,916,572
Total 2023
1,916,572
1.916.572
Page 23

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expendlture by actlvltles (Continued)
Analysis of support costs
Total
funds
2024
Total
funds
2023
Activities
2024
Support staff salaries
Depreciation
Motor expenses
Travel & subsistence
Office expenses
Rent & utilities
Accountsncy
Professional fees
Postage and stationery
Sundry
Irrecoverable VAT
Bad debts recov8red
{Profit)Iloss on disposal of fixed assets
Website costs
Advertising and promotion
IT & Telecommunication provision
Staff training & recruitment
Premises maintenance
Insurance
Govemance costs
Bank Charges & interest
165,201
4.439
2,286
899
165.201
4,439
2,286
899
146.494
4,358
2,062
251
11,079
14.015
7.110
2, 145
6.114
2,285
11,872
6.226
23.579
50,329
8,900
3,540
1,577
25,718
(431)
23.579
50.329
8.900
1,577
25,718
(5,064)
470
20
41,758
15,136
470
20
41.758
15.136
26,983
9,981
1.959
2.833
15.076
3.203
10.580
761
3.203
10.580
761
Total 2024
364,191
364.191
259, 553
Total 2023
259,553
259,553
Audltors, remun8ration
The auditors, remun8ration amounts to an auditor fee of £10,580 (2023- £10, 179.
Page 24

THE MARCHES ENERGY AGENCY
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Staff costs
2024
2023
Wages and salaries
s￿la1 security costs
Contribution to defined contribution pension schemes
1,109,149
78,961
51,599
886,403
70,220
36,295
1.239,709
992,918
The average number of persons employed by the Company during the year was as follows..
2024
No.
2023
No.
Employe88
41
No employee received remuneration amounting to more than £60.000 in either year.
Key management personnel received remuneration of £145.886 (2023.. £132,275) during the year. No
benefits were received.
Trustees, remuneration and exp•nses
During the year, no Trustees received any remuneration or other benefrts (2023- £NILJ.
During the year ended 31 March 2024, no Trustees recerved expenses (2023: £106).
Page 25

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. Tangible fixed assets
Office
equipment
Computer
equipment
Total
Cost or valuatlon
At 1 April 2023
Additions
2,030
36,403
3,922
37,433
3.922
At 31 March 2024
2.030
39,325
41.355
Depreciation
At 1 April 2023
Charge for the year
1,630
100
23.781
4.339
25,411
4,439
At 31 March 2024
1,730
28,120
29,850
Net book value
At 31 March 2024
300
11.205
11,SOS
At 31 March 2023
400
11,622
12,022
Page 26

THE MARCHES ENERGY AGENCY
(A company limited by guaranlee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. Debtors
2024
2023
Due wlthln one year
Trade debtors
Prepayments and accrued income
138,295
315.046
370, 732
186,879
453,341
557,611
12. Creditors.. Amounts falling due within one yèar
2024
2023
Trade creditors
Other creditors
Accruals and deferred income
96.725
203,561
34,307
86, 645
149, 435
61,968
334.593
298,048
Page 27

THE MARCHES ENERGY AGENCY
(A company Ilmlted by guaranto0)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. Statement of funds
Statement of funds - current year
Balance at 1
Aprll 2023
Transfers Balance at 31
inlout
March 2024
Income
Expenditura
Unrestricted funds
General Funds- all funds
297.540
3,176
35,843
336.659
Restricted funds
Derby City Council & Local
Dert)y Councils
Sundry Projects
Connexus Housing Group
Wrekin Housing Group Ltd
Energy Saling Trust
Cadent Gas Limited
Telford & Wrekin Council
Shropshire Council & Local
Town Councils
Projects with Partner Charities
Nottingham Energy Partnership
Nottingham City Council
Herefordshire Council
Restricted Donations &
legacies
Home Upgrade Phase 2 - Black
County
Home Upgrade Phase 2 -
D8rt)yshire
Home Upgrade Phase 2 -
Marches
National Grid West Midlands
42.343
4.747
532,643
39,836
30,661
3,806
816,343
200,607
60,757
(236,705)
(35,3361
131,315
{3,470
(796,166)
{174,687)
(34,027)
2,799
(9,247>
4,264
(336)
(21,178)
{13.421)
17.030)
341,080
3,500
16,001
27,500
19,700
17,535
199,942
13.778
126,107
156,930
27,918
1211,406)
{31,887)
(133,544)
(160,537)
(27.187)
4,419
18,109
4,437
(7,193
(731
10.490
3,000
14,800
4.000
12,060
$0.571
159,827)
9,996
12,800
1.925
71,760
(58,5131
{2)
15,160
13,675
100,660
197,603)
(2,372)
14.360
19.400
229,SSO
237,130
(240,331)
(218,777)
14)
(18,353)
8,615
144,486
2,898.879 (2,550,317)
(35,843)
457.205
Total of funds
442,026
2,902,055 (2,550,317)
793,764
Page 28

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. Statement of funds (continued)
Statement of funds - prior year
Balance at
31 Ma￿h
2023
Balance al
l April 2022
Transfers
in/oul
Income
Expenditur8
Unrestricted funds
General Funds - all funds
217,683
2, 260
(1. 638)
79,235
297.540
Restricted funds
Derby Cty Council & Local
Derby Councils
Sundry Projects
Connexus Housing Group
Wrekin Housing Group Ltd
Energy Saving Trust
Cadent Gas Limited
Telford & Wrekin Council
Shropshire Council & Local
Town Councils
Projects wrth Partnar Charities
Nottingh8m Energy Partnership
Nottingham City Council
Electricity North West
Westem Power Distribution
Herefordshire Council
Donations & legacie5
Home Upgrade Phase 2- Black
County
Home Upgrade Phase 2-
D8rbyshire
Home Upgrade Phase 2 -
Marches
49.410
157,094
18.029
26,622
8,042
768,516
227,448
11,503
(146, 600)
(25, 650)
(28, 648)
(4, 452)
(767,331)
(225.084)
(23, 613)
(17,561)
8,360
2,024
(3, 590)
(28,537)
12,637
4,210
42.343
4,747
27,352
15,001
163,322
194, 695
119,240
195,923
20,800
125,025
17,879
(160.450)
(217.407)
(123,294)
(270,625)
(8, 843)
(107,6Q3)
(20, 126)
(38, 096)
14,663
(15, 100)
{30, 636)
1,275
(11,957)
{17.422)
2,247
156
17.535
37,812
37,690
88,227
14,800
12.060
1,925
1,925
13,675
13,675
26,071
(6, 667)
79,400
252,399
2, 145,809 (2, 174,487J
(79,235)
144,486
Total of funds
470,082
2, 148,069 (2, 176, 125)
442,026
Page 29

THE MARCHES ENERGY AGENCY
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Restricted Funds
Derb Cit Council & Local Derb Councils - Funding from Derby and D8rbyshire Councils and other l¢xal
councils in the area, for a variety of projects supporting low income and vulnerable customers. for
example with debt relief, energy efficiency measures and advice, including customer joumey support for
some national initiatives.
Sund Pro"ects - Small projects with charities and town councils supporting vulnerable householders with
energy efficiency.
Connexus Housin
Grou
Two projeds one supporting and advising tenants on energy savings and one
a development prqect around improving propety energy efficiency.
Wrekin Housin
Grou
Ltd - Supp¢)rting and advising tenants on energy savings efficiencies.
Ener Savin Trust- Energy Saving Trust administer the Energy Redress Scheme. This provides funding
for a variety of projects supporting vulnerable customers in Marches, Derby and West Midlands as well as
a project building the capacty of domestic ￿trOfit worf(s in Marches.
Cadent Gas Limited One project to develop a home energy audit app and one project supporting
vulnerable people with home visits and telephone support.
Telford & Wrekin Council - Enabling low income and vulnerable householders in Telford & Wrekin to
access funding for energy efficiency improvements.
Shr
shire Council & Local Town Councils
Fundiro from Shropshire Council and other local town
councils in Shropshire. for a variety of projects supporting low income and vulnerable customers, for
example with debt relief. energy efficiency measures and advice, induding customer journey support for
some national initiatives.
Pro ects with Partner Charities - Local Authority Delivery of customer journey support in the Black Country,
delivered as part of a partnership with Act on Eneryy. Big Energy Saving Nebjvork, training front line
workers and delivering energy advice to members of the public in community settings. Supporting Share
Energy Co-operative in delivery of an Energy Redress Project.
Nottin
ham Ene
P8rtnershi
- Two projects providing customer joumey support for Local Authorities in
Derby & Derbyshire , retrofitting homes for vulnerable areas in the community.
Nottin
ham Cit Council - Customer joumey support for Local Authority Delivery in Shropshire, retrofitting
energy inefficient homes in areas of poverty and need.
Herefordshire Council - Support for eligible Herefordshire householders to retrofrtting homes.
acies - Donation from a benefactor interested in developing net zero carbon in
Restricted Donations & le
South ShropShi￿.
Home U rade Phase 2 - Black Count - CustoffÈr journey support for Local Authority Delivery in Black
Country retrof￿Ing energy inefficient homes in areas of poverty and need.
Home U
rade Phase 2 - Derb hire
Customer journey support for Local Authority Delivery in
Derbyshir8 retrofitting energy ineffKient homes in areas of poverty and need.
rade Phase 2 - Ma
hes - Customer journey support for Local Authority Delivery in Marches
retrofrtts.ng eneryy inefficient homes in arèas of poverty and need.
Page 30

THE MARCHES ENERGY AGENCY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
National Grid West Midlands A consortium project providing affordable wamth advice and support
across the West Midlands area.
15. Analysis of net assets between funds
Analysls of net assets between funds - current period
Restricled Unrestrlcted
funds
funds
2024
2024
Total
funds
2024
Tangible f￿ed assets
Current assets
Creditors due within one year
11,505
11,605
659.647
1.116.852
{334,593) {334,593)
457,205
Total
457.205
336,559
793,764
Anaty818 of net assets between funds - prior period
Restricted Unrestiicted
funds
funds
2023
2023
Total
funds
2023
Tangible fixed assets
Curr8nt a&8ets
Creditors due within one year
12,022
12,022
583, 566
T28,052
(298, 048) (298.048)
144,486
Total
144.486
297, 540
442,026
Page 31

THE MARCHES ENERGY AGENCY
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16. Reconclllation of net movement in funds to net cash flow from operating activities
2024
2023
Net incomelexpenditure for the period (as per Statement of Financial
Activiti8s)
351,738
(28.056)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Lossl(profit) on the sale of fixed assets
Decreasel(increase) in debtors
Increase in creditors
4,439
2,535
4.358
418
(5,064)
(320,864)
77,817
104,270
36,545
Net Gash provided byl(used in) operating activities
499,527
(271, 391)
17. Anatysis of cash and cash equivalents
2024
2023
Cash in hand
663,511
17Q,441
Total cash and cash equivalents
663,511
170,441
18. Analysls of changes In net debt
At 31 March
2024
2023
Cash flows
Cash at bank and in hand
170,441
493,070
663,511
170,441
493,070
663,511
Page 32

THE MARCHES ENERGY AGENCY
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Pension commitments
The Company operates a defined contribution pension scheme. The assets of the scheme are held
seperately from those of the Cc)mpany in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £51,599 (2023.. £36,295).
£8,728 (2023: £608) was payable to the fund at the balance sheet date and is included in other creditors
due within one year.
Operating lease commltments
At 31 March 2024 the Company had commitments to make future minimum lease payments under non-
Can￿lIable operating18ases as follows..
2024
2023
Not later than 1 year
Later than 1 year and not later than 5 years
17,147
20,005
11,635
17,260
37,152
28,895
21. Related party transactions
During the year, sales of £50.571 were made to South Shropshire Climate Action (2023: £52,648).
Purchases totalling £59,827 (2023.. £41,598) were received from South Shropshire Climate Action and a
reslricted reserves balance of £12,800 was held at 31 March 2024 {2023: £12,060}. Frances Cullen
(Trustee) and Simon Ross (Executive Director to 31.07.23) are Communications Chair and Lead Member
respectively for South Shropshire Climate Action.
Page 33