Registered number: 03443349 Charity niimber- 1070942 THE MARCHES ENERGY AGENCY TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 WR Partners Protecting your future. THE MARCHES ENERGY AGENCY IA company limited by guarantee} CONTENTS Page Reference and admiiiistrative details of the Company, its Triistees aiid advisers Trustees. report 2- 11 Independent auditors. report on the financial statements Stateinent of financial activities 16 Balaiice sheet 17-18 Statemeiit of cash flows Notes to the financial statements 20-36 THE MARCHES ENERGY AGENCY {A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees Angela Caltermole Christopher Deaves, Chair David Brown lappoinled 21 May 20251 Elliot Jones Francis Cullen (resigned 20 March 20251 John Green (appointed 18 JLily 2024. resigned 21 July 20251 John Prime lappoiiiled 21 May 2025} Rufus Dean (resigned 16 June 20241 Sarah Hopkiiis Iresigned 5 December 20241 Coinpaiiy registered number 03443349 Charity registered number 1070942 Registered office Tlie Pump House Colon Hill Shrewsbury SY1 2DP Independent auditors WR Partners Chartered Accountants SlatLilory Auditors Belmont House SlirewsbLlry Business Park Shrewsbury Shropshire SY2 6LG Bankers The Co-operative Bank P.0. Box 250 Skelirei'sdale WN8 6WT Triodos Bank Deanery Road Bristol BS1 SAS Cliief Executive Anna Brennand Seiiior Management Team Davina Allen Director of Energy Services Philip Towers - Business Support Manager Julie Birtles - Finance Manager Page I THE MARCHES ENERGY AGENCY {A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The TrLislees present their annual report together with the financial statements of the company for the year elided 31 Mai-ch 2025. The Trustees confirm that the Annual Report and financial statements of the company comply with the CLirrenl slalLilory requirements, the reqiiirements of the company's governing docLiment and the pi ovisions of the Statement of Recomnieiided Practice ISORP} applicable to charities preparing Ilieir accoLinls In accoidance willi the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} lupdale effective 1 Januaiy 20191. S1nce the coiiipany qLialifies as sniall under section 383, the strategic report required of medium and large companies Linder The Companies Act 2006 {Slralegic Report and Director's Report) Regulations 2013 is not reqLiired. Marches Energy Agency IMEAI, a registered charity, is a company limited by guarantee and, not having share capital. Is governed ￿n accordance with the provisions contained in its Articles of Association. The charity operates Linder the name The Marches Eiiergy Agency. Objectives aiid activities a. Policies and objectives Marches Energy Ageiicy IMEAI was formed in 1996 and became an independent energy charity in 1998. MEA'S charitable objectives troni Its Memorandum of Understanding are as follows. The ielief of poverty and the preservation and protection of heath by proniotiiig the efficient Ltse of energy liiicludiiig eiiergy for healing PLJrposes} and Lililisation of renewable sources of energy Tlie advancenienl of education for the public benefit in particular but not exclusively In relation lo energy conservation, Ilie efficient Lise of energy aiid the ulilisalion of renewable SOLirces of energy The proinotioii conservation. enhancement and improveinent of the environment and the eiicoiiragement of undei'slaiiding and awareness of the iimportance of sustainable development in particular but not exclusively In the Marches area of England and Wales More Infornialion about Marches Energy Agency and its activities are on the MEA website at wvvw.niea.org.uk. MEA has been 5UPPOrting vulnerable energy customers in the Midlands for 27 years. Free. friendly. non-scripted, IrLily person-centred expert energy advice, support and practical help is offered lo vulnerable houseliolds oli the phone and In person across Shropshire. Telford & Wrekin and Derbyshire. Retrofit services in these areas, as well as in Herefordshire and the Black CoLinlry are also offered. Working with local autliorities, charities. housing pioviders and other those strLiggling to Imeet energy costs due lo low Incomes andlor poor honie energy efficiency are SLlPPOrted. MEA is comniilled lo providing wrap around, flexible support, which responds effectively lo the coniplex nature of the challenges local people face. MEA'S aims are for. VLilnerable householders lo live in homes, where stayiiig warm and safe is not a coiicern 2. Flexible, compassionate crisis support to be available to those who need it most, in order lo mitigate the Iinpacls of cold homes while longer-term interventions are arranged 3. Empoweied aiid Informed householders lo take control of their lionie efficiency and energy usage. thereby n13kirig their homes warmer, healthier. and cheaper to run 4. Support agencies, local authorities, and conimunilies lo share knowledge to create vibrant. resilient places aiid reduce the Iinpact of the energy crisis on the most vulnerable 5. Trusted local conipanies lo be able ta inslall energy saviiig and generating nieasLires at work. thereby Iielpiiig lo retain money in OLir local econoimies Page 2 THE MARCHES ENERGY AGENCY IA company limited by guarantee) TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities Icontiiiuedl MEA Vision Mission and Values Vision Low carbon homes and commLinilies for everyone, wilhoul fuel poverty. Missioii To operate with empathy and integrity lo provide energy advice and practical, low carbon sollltions for homes and comniLinilies. Values Our customers - We place professional integrity and CLislomer service excellence at the heart of everythiiig we Our people - Our staff & volunteers are our most precious resource and we will empower them lo bring aboiil change and help us Inake Marches Energy Agency a great place to work OLir planet - We are committed to serving our local communities & sUPPOrting them lo enact meaningful changp lo decarboiiise and achieve net zero Strategic & BLisiness Plaii Objectives MEA'S Strategic Plan 2025 - 2027 sets out obieclives foi- the following year. as well as longer lerim goals Kp.y Strategic Goals are as follows. Engagement To pul our customers at the heart of all our activities ensLiring our Inler3clions are informed. relevant, I'especlfiil & liimely. Financial Resilience To be finaiicially resilient & to operate with an entrepreneurial. creative & innovative outlook. Promotion & Advocacy To promote. debate & contribLile to the national & interiiatioiial climate change agenda. energy efficient warnTr homes. b. Activities undertaken to achieve objectives Context The Financial Statements for the year 202412025 are sel OLIt on page5 15-34 of the finaiicial slatenieiils. Over many years MEA has been successfLII Iii ils core fliel poverty work and has Invested In sl8lf lo operale more effeclively. In i-esponse to the dramatic Increases in demand for OLir services we have re-ev8lLiated our delivery model and expanded and reshaped il lo provide even greater SLlPPOrt and energy advice lo a wider number of households across a larger geographic area. We are also Increasing the breadtli aiid depth of OLir work across all exisling counties, learning froin the wrap-arolind service we already provide In Shropsliire We are expandiiig and deepeniiig OLir partnerships across health, refugee SLlPPOrt, food etc. lo work together lo niaxiniise benefits to householders, Page 3 THE MARCHES ENERGY AGENCY IA company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities {continuedl Iii the last 12 nionlhs we have.. Provided energy advice and support to over 12.500 householders. providing energy advice over te phone and In person at events We liave visited over 900 hoines lo give more detailed energy advice and support We have worked with 799 organisations We tFained 1.339 front-line workei"s lo deliver energy advice, and referring on for further support inclLiding energy efficiency measures. financial advice, and crisis Interventions We distributed iiearly 5.000 energy saving Imeasures lo householders Energy efficiency measures, Installed as a result of referrals to over 2,100 homes, include Air Source Heat Pumps. iiilernal and external wall insulalioii. eiiergy efficieiit storage healers and solar PV We distributed £212k of crisis grants to householders The niajorily of calls to OLII helplines are answered live by dedicated staff, working together with technical and home visit advisors, meaiiing more householders are reassured by a friendly voice and LisefLII inforniatioii while they await detailed casework support. Our HEA T app together with our team's technical capability through, for exarnple relrofil assessnients and coordination following PAS-20-35, thermal imaging camera surveys elc.. are beiiig Lised Iii enhanced home visits lo provide personalised, in-depth inforinalion around appliance usage aiid providing solutions for chaiige around energy efficiency. Collaborating with other agencies and partners continues lo be important. enabling hoiiseholders lo benefit from our services tlial we would not olhenmise reacli. Our Energy Advisors are trained and knowledgeable. meaning they have the skills to be creative and innovative wrth the SLlPPQrt we offer. The non-scripted iiature of our work means we can be flexible and provide tailored solutions froin the complex web of support available. The team have a rich Linderslandiiig of the challenges householders face and are committed to enabling long-term change wliich lielps to lift local people out of fuel poverty for good. 2024.25 lias seeii stable staffing nLinibers. with the number of staff at 47 by the end of the year. A number of larger projects were completed and successful applicalioiis for repeat funding have sustained service provision. Deimand for our services has remained higli throughout the year, with the winter of period In particular seeing significant nuinbers of customers and partner agencies seeking our expertise for energy advice, customer jOLirney support for household energy efficiency giant schemes and training. In addition, there has been growth In Our cominLinity focused activities. as well as building retrofit capability and expertise amongst communities, installers and hoLiseholds who are undertaking self-fLinded works. MEA'S reputation as a leading aLlthorily in the region on home energy efficieiicy and climate awareness. has been built on the Increasing expertise of staff, both technically and with respect to supporting vulnerable CLlSton)ers. A strong track record of SLiccessful delivery and partnership has allowed us lo secure repeal and new lundiiig in the foiiii of grants and service level agreements. Page 4 THE MARCHES ENERGY AGENCY {A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities Icontiiiuedl MEA'S geographical footprint has remained stable. Activity has grown in Shropshire, as well as iii Tellord & Wrekin, with Ilie Telford Energy Advice project receiving renewed fLinding from tlie Energy IiidLislry VolLinlary Redress Scheme, enabling the conlinualion of oiir work lo bring together local partiiers and expertise aiid a stronger relationship with the Local Authority. Work In the East Midlarids conlinLies lo flourish. with Ilip SLiccessful completion of the Warnier Derby & Derbyshire project. which has been continued wilhiii a larqe.r project, Energy Advice with Coinmunily Connectors. funded by the Eiiergy Indlislry VolLintary Redress Schenie This project Includes Sliropshire and Herefordshire based work. foclising on supportiiig hoLiseholders with energy advice and working with community groups to increase local capacity. In Derby and Derbvsliire Suslaiiiable Wariiilh and FLiel for Food schemes also successfully helped LIS provide a coniprehensive eiiergy advice service for residents. as well as cement OLir reputation with partiiers in the region In Ilie Black CoLinlry whicli iiicludes, Sandwell & Dudley and Wolverhampton, we completed our Customer JoLirney Support services for the SLislaiiiable Warnilh prograiriiies. Our projects aroLind skills and traiiiing. community outreach and the 5elf-financing market. are wiclp.iiing knowledge, creating sustainability and empowering hoLiseholders lo make change. Progress Against Strategic Plan MEA'S Strategic Plan 2025-2027 sets OLIt objectives for tlie following year. as well as longer term goalq Development has been In conjLlllCtion willi personnel at all levels and progress is shared al Trustees iiie.elings. as well as Tegularly with slaff. The priorities Linder the plan are OLir core fuel poverty work. a focus on CLislon)e.r service excellence aiid diversification of our fuiiding lo InclLide the non-domeslic market. The three Im8111 sections of the plan are". eiigagemenl, financial resilience and promotion aiid advocacy. Engagement - key achievements and developimenls include Providing a positive response for slruggliiig IioLiseholds throLigh the energy crisis lias beeii a key area of work MEA has developed a leambased approach lo supporting households with complex needs, allowiiig access lo a range of project specific expertise. We aspire lo a make a lifechanging difference to households. whicli can be captured and shared as case studies. Our eiiergy advisors have coiitlllLied lo provide a triaged service Iliroughoul the year. We have increased the capacity of others to provide basic advice, Ilirough tra1111ng. workiiiq through partner agencies to provide finaiicial gLiidance and guidance SLlPPOrt and the provisioii arid dissesmiiialion of up lo dale iiialerials. OLir support is therefore focLised on those cases where our energy expertise and access lo funding is niosl impaclful. In all OLir activities we are led by what i)iallerq lo oiii. customers, tailoring QLir approach and interactions lo give them value. and the best OLltcoiMes for Ilieir circuinslances that we cali provide. Financial Resilience - key achievements ai)d developiiieiils inclLide. Cross area collaboration. partnership working and building the capacity of other organisalions has continued lo feature strongly In OLir work. Our SLislainable Warmlh Customer Journey Support Teaiws for Derbysliire. Marches & the Black Country. for example. work collaboratively across areas lo sliare Insights, as well with the local delivery teams and on the ground siipport. MEA has beeii contracted lo deliver home v1511s arid telephone advice across our areas as part of a continLiing partnership with Cadenl. We also deliver enei'gy advice through funding from national Grid. leading a region wide project Vve liave also developed OLir expertise and capability lo deliver a 'whole house appi-oach, to retrofit, in accordance with current frameworks sucli as PAS 2035. Over the year we have secured new fundiiig across all our areas of work and this includes fundina for working with hoLising associalioiis and colleges in upskilling staff and stiideiits In relrofil. Page S THE MARCHES ENERGY AGENCY IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities {continued) Senior Managers have focused on building staff confidence, communication skills and customer service. for exaniple through a focus oli this al our Away Days. Due lo increasing opportuiiities, a nLimber of staff have received Interiial promotions and contlliLie to grow the breadth of expertise and succession strategy should that be required. We have also further improved our financial reporting and internal controls and processes. Promotion and Advocacy - key achievements and developiiients inclLide. Our e-markeling and social media are increasingly important marketing tools, 3nd work is nearing completion on new branding and a new website, which will be key In providing Information. sign-posting access to OLir services and highlighliii9 our programmes, our impact and success. We continue lo work with our referral partner organisalions. They are all trusted local organisations al Ilie heart of tlieir conimunities and enable lis lo reach more VLilnerable hoLiseholders tlial ordinarily we would not be able lo access. This Iiicludes partners that support refugees In Derby and In Shropshire. We also collaborate with pai'lners such as Citizens Advice and food banks in delivering advice events and we work with housing associations lo enable teiiants lo access our services We continue lo raise awareness of how fLiel poverty impacts on struggliiig householders and we work with other support services lo Improve their understanding. Over the course of the year we delivered fronlline worker Irainiiig lo organisalions interested In delivering basic energy advice to those they work with, to beller support vuliierable eiiei9y Customers. Oui- team foster knowledge sharing and focus on the link between healtli and housing, raising awareness of the Importance of a holistic approach. We also coiitinLie to raise awareness of the rurality of the coinmunities we support and continue lo lake a flexible, innovative approach to easing fuel poverty Area Based Activity Shropshire, Telford & Wrekin & Herefordshire Aclivily In Shropshire and Telford & Wrekin is undertaken by the Wesl Midlands Team, mLich of il under the local brandiiig of Keep Sliropshire Warin and Telford Energy Advice. Iii Shropshire, MEA has continued to work closely with Shropshire CoLincil lo deliver Keep Shropshire Vvarm and has delivered iiiulliple energy advice and capital relrofil projects for householders under this braiiding. These Include Heallliy Homes Shropshire. which was successfully conipleted and new funding through our Energy Advice with Coiiimunity Connectors {EACCI continues mLich of this work CLislomer IOLirney support for the Sustainable Wai'mlh pro9rammes. principally the Honie Upgrade 2 (HUG21 projects, which finished In ILine 2025 Page 6 THE MARCHES ENERGY AGENCY IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities {contiiiued) In Telford & Wrekin. Telford Energy Advice has conliniied to act as the main point of contact foi enei-gy advice for residents with new fLinding secLired for this key project. With Telford & Wrekin Council MEA has delivered lop up fundiiig for graiils for home energy efficieiicy works, as well as providing home visits and advicp. We also manage Ilie EC04 process. aiid delivered the CLislonier Journey SLlPPOrt lor HUG2: as part of Marches wid funding. In Shropshire and Telford & Wrekin we have delivered monitoring and evaluation work as part of the ConneYL15 Warmer Homes Project. Age UK Home Enei"gy Checks. sinall grant aiid crisis funding IiiclLiding prepaymeiil nieter VOLichers. as well as Shropshire Houseliold Support fundiiig and Shropshire Warm Spaces during the winter period. In Herefordshire MEA look over the Customer Journey Support for HUG2. following the withdrawal of Severn Wye Agency part way through the project. We have also cominenced conimunity focused energy advice arid capacity building in Herefordshire through EACC. Derby & Derbyshire Our East Midlands team in Derby & Derbyshire Is well established and inlegraled within the area. Projects inclLide'. The Warmer Derby & Derbyshire project was coinpleled and conlir)ues Linder oiir iiew Eiiergy Advire with Conimunily Coniiectors area-wide project. Tlie partiierships with Boznia and Herzegovina Society In Derby and Mid Mercia Citizens Advice iii Derbyshire continue to work well Fuel for Food, supporting food bank users in Derbyshire with energy advice. debt SLlPPOrt. sinall eiiergv efficiency measures. The project has provided vital support for very VLilnerable hoiiseholds dLiring the energy crisis. Customer IOLirney SLlPPOrt for HUG2. in partnership with local couiicils Dudley, Sandwell, Walsall & Wolverhampton {Black Country) MEA delivered Customer Journey Support for the HUG2 prograinme. c. Maiii activities undertaken to fiirther the Company's purposes for the public benefit In setting objectives and planniiig for 3clivrties. the Trustees have given due coiisideration to genei'al giiidaiic.e published by the Charity Coinmis5ion relating lo public benefit and in partlCLilar to ils supplementary publii. benefit guidance. THE MARCHES ENERGY AGENCY (A company limited by guarantee} TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Achievemeiits and performance Review of activities The IMajoi- expenditures In the past year liave included.. Wages and salaries Social security costs Project costs Office expenses The charity's fLinds have all beeii applied in accordance with Ils obiects. The charily's assets are all beiiig niainlained In furiherance of these objects. b. Investinent policy and performance Undei" Ilie Memoi'anduin and Articles of Association. the charity has the power to invest and deal with the monies of the charity. not Iiniiiediately required for the purposes of the Objects, in investinents and securities. During this reporting period such monies have been placed Iii an Interest-bearing account. Finaiicial review Goiiig concern After making appropriate enquiries, the Trustees have a reasonable expeclalion that the company has adequate resoLiices lo coiitinLie Iii opeiational existence for the foreseeable future. For this reason they continue to adopt Ilie going concerii basis In pi-eparing the fiiiancial stateinents. Fuitther details regarding the adoption of the going concei-ii basis can be found In the AccoLinling Policies. b. Reserves policy MEA employs 47 staff all of whoin have a specialised knowledge and experience. Retaining this workforce in order to Imainlain OLir services to the comniunily is reflected in these reserves. Fundiiig our proiects is an area in constant change and our reserves are flexed lo reflect this. The Policy agreed by the Board of Trustees is lo aim for a miiiimLim reserves level of £342.048. This level of reserves is sufficient in order for the Charity lo settle any noi) caiicellable liabilities as they fall due, iiicludiiig slatulory staff costs. The free ieserves al the end of the year stood al £395,652 12023124. £325.0541 and indicate a sufficient level of reserves lo nieet these commitments al year end. Forecasts Indicate Trustees woiild expect lo Increase free reserves over the next 12 nioiilhs. Principal risks and uncertainties The Board of Trustees liave explored and assessed the major risks to which the charity Is exposed, notably those relating lo the operations and finances of the charity and are satisfied that systems are in place lo mitigate exposLire lo the iiiaior risks facing the charity. The adoption of a reserves policy lias provided a gLiide lo the level of reserves necessary lo address any major risks tlial could potentially arise. Page 8 THE MARCHES ENERGY AGENCY IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 d. Income generation The main sources of income during tlie last year liave been from" Energy Industry Voluntary Redress Scheme Nalioiial Grid Cadenl Gas Derbyshire Coiinty Council Notlinghaiiishire County Council Shropshire CoLincil Telford & Wrekin Council Herefordshire CoLincil Age UK Sliropsliire Telford and Wrekiii Departmeiit of for Energy SecLirily and New Zero IDEZNZI Coniiexus Housiiig Wrekin HoLJsiiig GroLIP A variety of public: private aiid charitable soiirces e. Summary MEA has increased unrestricted reserves agaiii this year. In addition, the pipeliiie of potential work is looking encoUrag￿ng and loi)g standiiig CLtslomers continue to SLipport our work. Structure. governance aiid managemeiit a. Constitution Marches Energy Agency, a registered charity is a company liiniled by gLiaranlee aiid registered in Eiigland 3iicl Wales. Not having share capital. il is governed In accordance with Ilie provisioiis contained Iii ils Ariicles ol Association. The Charily operates under the name Tlie Marclies Energy Agency. b. Methods of appointment or election of Trustees The manageinent of the company is the responsibility of the Trustees who are elected and co opted linder tlie lerins of the Trust deed. Organisational structure and decisioii-making policies The Board of TrLislees delegate Ilie day to day leadership aiid mana9ement of the charity to ils Cliiel ExecLilive. Anna Breniiand. d. Policies adopted for the induction and trainiiig of Trustees All potential iiew Trustees are briefed on the work of MEA by the CEO and by the Chair of Triislees. All iiew Trustees are provided with a copy of MEA'S Memoranduni and Articles and with a copy of Ilie Chai"Ilv Conimission's CC3 - The Esseiitial Trustee what you need to know guide. wliich they read. as well 3 undertaking a programme of indiiclioii. Page 9 THE MARCHES ENERGY AGENCY (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 StrLlCture, governaii¢e and managemei)t Icontinuedl e. Pay policy for key management personnel MEA'S pay for key ITJanagemenl personnel is reviewed aiiiiually by the Board and recommendations Iiiiplemeiiled on 1 October each year. f. Related party relationships All Tru51ees are volunteers, and no remuneration is paid. Travel expenses may be reimbursed, if reqLiested by a Iruslee. All Trustees complete annual conflict of interest fornis. Tliere have been no transactions with those persons and entities that are closely connected lo the charity or its Tfustees. g. Financial risk management Tlie Boai"d of Triislees have explored and assessed the Inajor risks to which the charity is exposed. notably those relating lo the operalioiis and finances of the charity aiid are satisfied that systems are Iii place to mitigate exposure lo the niaior risks facing the charity. Tlie adoption of a reserves policy and the meeting of the reserves target Ideiitified within that policy have furthei" mitigated exposure to the Irajor risks facing the charity. h. Trustees, indemnities MEA holds appropriate levels of Professional Indemnity and Public Liability Insurances as protection against efrors of judgement and mistakes In our professioiial undertakings. Plaiis for f uture periods Looking to tlie fulLire. we will continue lo build on our services to meet the expected need in householder support for inci'easing the energy efficiency of hoines and reducing energy costs to meet basic needs. MEA will deliver the goals and priorities as laid OLII in ils Strategic Plan 2025 2027. This Includes continuing to develop our offer and support for fuel poor houseliolders, inclLiding understanding better the lieallh and wellbeing benefits of our work. Vve will also continue to focus on areas for retrofit work across all demographics. as well as working to develop i)oii-domestic work. In addition, as the present and future consequences of climate change become ever more ui'gent: sustained and Imeaniiigful action lo reduce carbon emissions will require coordiiiated action, Iiicluding at a local and community level. Page10 THE MARCHES ENERGY AGENCY IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees. responsibilities The Trustees {who are also the directors of the Company for the purposes of coinpany lawl are responsible lor preparing the Trustees. report and tlie finaiicial 51atements in accordance with applicable law and Uiiiled Kingdom Accounting Standards (United KingdotTI Geiierally Accepted Accounliiig Practice) Conipany law reqLiires the Trustees lo prepare finaiicial statements for each financial . Under compaiiy law. the TrLlStees musl not approve the financial stateiiients unless they are satisfied that Ihey give a Iiiie aiid fair view of the state of affairs of the Coimpany and of its incoming resources and application of resources. IiiclLidiiig ils income and expenditure. for that period. In preparing these financial statements. the Trustees are reqLiired lo select suitable accouiiling policies and then apply them conslstently, observe the methods and principles of the Charities SORP IFRS 1021, niake judgnienls and accounting eslimales that are reasonable and prudent, slate whether applicable UK Accounting Standards (FRS 1021 have been followed. SLibiecl lo aiiy Iralerial departLires disclosed and explained in the 1sn3ncial stalemenls.. prepare the finaiicial slatemeiils on the going concern basis uiiless it is Inappropriate to presLiiiie 11131 the. Coiiipaiiy will continue in bLisiness. The Trustees are responsible for keeping adeqLiate accounting records Ilial are SLiff icienl lo sliow arid explAIii the Company's transactions and disclose willi reasonable accuracy al any liiiie the Iiiiancial position of Iliè Company and enable them lo 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 th?. prevention and detection of fraud and other irreglilarilies. Disclosure of inforination to auditors Each of the persons who are Trustees at the lime when this Trustees. report is approved has coiifiriiied Ilial so far as that TrLislee is aware. there 1s no relevaiit audit information of which the charity's auditors ar unaware". and that TrLislee has takeii all the steps that OLighl lo have been taken as a Trustee in order lo be aware of any relevant audit Information and to establish that Ihe cliarity's auditors are aware of that Inforimalioii. Auditors Appoiiitinent of auditors, for tlie next financial year. is being considered by Trustees. The designated Triislees will propose a niolion lo appoint auditors al a meeting of the Trustees. Approved by order of the Inembers of the board of TrLislees and signed on their behalf by. Oale. Page 11 THE MARCHES ENERGY AGENCY IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARCHES ENERGY AGENCY Opiiiion We have audited the financial statements of The Marches Energy Agency (the 'charitable company'l for the year elided 31 March 2025 which comprise the statement of financial activities, the balance sheet, the s131emenl of cash flows and the related notes, Including a summary of significant accounting policies. The financial reporting franiework 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 Kingdoin Generally Accepted Accounting Practice}. In our opinion the financial statements.. give a true and fail view of the state ol the charitable compaiiy's affairs as al 31 March 2025 aiid of its 11)coii)11)g resources and application of resources. iiiclLiding ils income and expenditure for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared In accordance with the requii emenls of the Charities Act 2011. Basis for opinioii Vve conducted our audit In accordance with International Standards on Auditing (UK) IISAS (UKI) and applicable law. Our responsibilities Linder those standards are further described iii the Auditors. responsibilities for the aLidil of the finaiicial statements section of OLir ieporl. We are Independent of the charitable company In accordance with the ethical I"eqLiirements that are relevant lo our audit of the financial slalements in the United Kingdom inclLiding the Fiiiancial Reporting CoLincil's Ethical Slandard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtaiiied is Slifficienl and appropriate lo provide a basis for our opinion. Coiiclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accouiiliiig in the preparation of the finaiicial statements is appropriate. Based oli the work we liave performed. we have not identified any material uncertainties relating lo events or conditions that. individually or collectively, may cast significant doubl on the charitable company's ability to conlii)ue as a going coiicern for a period of at least twelve monllis froni when the financial statements are aLilhorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described In the relevaiit sections of this report. Page 12 THE MARCHES ENERGY AGENCY IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARCHES ENERGY AGENCY {CONTINUEDI Other information The other iiiformation compi-ises the iiiformatioii Iiicluded In Ihe aniiual report other than the financial stalen)enls and our auditors, report Ihereoii. The Trustees are responsible for the other information contained williiii the annual report. Our opiiiion on the financial statements does not cover the other iiiformalion aiid. except lo Ilie extent otherwise explicitly slated in our report. we do not express any form of assLirance conclusion Iliereoii. nlir responsibility Is lo read the other infornialioii and, in doiiig so. coiisider whether the other inloriiialioii 1% niaterially iiiconsislenl witli the financial slalemeiits or OLir knowledge obtained in the course of Ilie aLidil. 0.1 otheiwise appears to be maler1ally misstated. If we ideiitify SLicli material inconsistencies or appai'e.nl Iraleria Imisstatemenls, we are Tequired lo determine whether this gives rise lo a material misslalemenl In the fiiiancial slaleinenls themselves. If. based on the work we have performed, we conclude that Iliere is 2 17)alerial misslatenient of this other infornialion. we are reqLiired lo report that fact. We have nothing lo report in this regard. Matters on which we are required to report by exception We have nothing lo report in respecl of the following mallers where the Charities IAccounls and Reportsi Regulations 2008 requires us lo report lo you if. in our opinion.. the Information given in the Trustees, report is inconsistent in any material respect with the fiiiancial statements", or sufficient accoiinliiig records have not been kept", or the financial slalemenls are not In agreement with tlie accoiiiiliiig records aiid relLirns', or we have not received all the Inforination and explanations we require for OLlf audit. Responsibilities of trustees As explained Inore fully in the trustees, responsibilities statement. tlie Trustees (who are also tlie director% of Ilie. charitable company for tlie PLirposes of company lawl are responsible for the preparalioii of Ihp fiiiaiir.ial slalemeiils aiid for being satisfied that Iliey give a true and fair view, and for such Inleriial control as Ihp Trustees deleriiiine is necessary to enable the preparation of financial statements that are free from iiialer131 misstatement. whether due to fraLid or error. In preparing the financial stalemenls, the Trustees are responsible for assessing the charitable company's ability lo conliiiue as a going concern. disclosing, as applicable: mallers related lo going concern and Liqing Ilie goiiicj concerii basis of accounting uiiless the Trustees eitlier intend lo liquidate the charitable company or lo r.ease. operations, or have no realistic alternative bul lo do so. Page 13 THE MARCHES ENERGY AGENCY (A company limitèd by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE MARCHES ENERGY AGENCY {CONTINUED} Auditors. responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihei"eLJnder. Oui" objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from Inalerial Imisslatement, whether due to fraud or error. and to Issue an auditors, report that includes our opiiiion. Reas0113ble assurance is 3 high level of assurance. bLII is not a guarantee that an audit coiiducted in accordance with ISAS (UK} will always delecl a material misstaleinent when Il exists. Misstatements can arise from fraud 01 error and are considered material if. Individually or in the aggregate, they could reasonably be expected lo influence the econoniic decisions of users taken on the basis of these financial statements. Irreglilarilies. Iiiclliding fraud, are instances of non