Charity registration number 1075679 Company registration number 03621022 (England and Wales) ON ENERGY ANNUAL REPORT AND FINANCIAL StATEME1rs FOR THE YEAR ENDED 31 MARCH 2025
Acr ON ENERGY LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr A Boad Dr Sjuned Mr D Johnston Mrs M M Unwin Mr D Cowcher Mr R Dunlevy Mr P Evans Secretary Ms R Jones Charity number 1075679 Company number 03621022 Registered office Unit 2 Lauriston Business Park Pitchill Evesham United Kingdom WRII 8SN Auditor TC Group Celixir House Stratford Busine55 & Technology Park Innovation Way, Banbury Road Strarford-upon-Avon Warwickshire United Kingdom CV37 7GZ
Acr ON ENERGY CONTENTS Page Chairman's statement Trustees, report Statement of Trustees. responsibilities Independent auditor's report 8-11 Statement of financial activities 12 Balance sheet 13 Statement of cash flows 14 Notes to the financial statements 15-26
Acr ON ENERGY CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 Introduction from our Chair of Trustees, Robin Dunlevy It's been another incredible year for Act on Energy. Whilst the height of the energy crisis may have fallen away from the media headlines- continued higher prices, record breaking levels of energy debt and the ins and outs of Winter Fuel Payments meant that energy- and the worry- was certainly never far from people's minds. On top of that, the newly appointed government set out its stall for a cleaner, greener future which will mean changes for all; yet it's str"Il the immediate cost of living worries which is uppermost in our customers, lives. We're proud to have supported thousands of people right across our region of Worcestershire, Warwickshire and the wider West Midlands with their ener8y needs. The level of those households in fuel poverty shows no sign of abating- and indeed, the West Midlands continues to occupy the top spot in the country. It's not only on the phones where we offer free, unbiased advice. We've made more home visits this year than ever. and the case work is getting longer and more complex. This is because many of our most vulnerable customers have got used to switching off appliances to save money; exacerbating the issues of cold damp homes which often worsen poor health and overall wellbeing. Local authorities have also put their trust in us to deliver programmes such as the much-needed Household Support Fund which has helped thousands of customers with their energy bills and broken heating systems. But vital as our day-to-day support is, it's the longer term changes to people's homes that will really make the difference. Improving the energy efficiency in homes remains as vital now as it did when we started more than 25 vears ago. In fact, the urgency- with more climate extremes and higher bills- is arguably greater. That's why we're proud to be working with our local authorities to deliver on the energy efficiency programmes which will transform people's lives. Amongst others, it was the Home Upgrade Grant scheme which tcnk centre stage this year. It was not without its challenges and we hope that the lessons learnt from implemertation will be embedded in future schemes. As an energy advice charity rooted in the heart of our communities, we're well placed to offer the local solutions as well as parhcipating in the national dialogue. We're a trusted voice at both national and local government and it remains our remit to help all our customers. The fact remains that a just transition towards net zero still seems some way off, but we are undeterred in our conviction to work with partners to make sure that no one is left behind. Because while much of the conversation focuses on EV vehicles and heat pumps, Time of Use tariffs and demand flexibility, we know that for many of our customers that remains a pipe dream, and simply 'gethng by. is enough. Of course all of this work comes at a cost. It requires investment and we work hard to find fundirg that is outcomes specific and has long term sustainability- As demand for our services grows and statutory support wains, it is increasingly challenging to secure the longer-term flow of funding. That's why we're looking at expanding our strategic goals to incorporate more commercial operations. Indeed this year we launched our AIM accredited training academy. We've understood for many years the demand for wider energy awareness training and know-how- and 50 our investment in training will allow the twin goa15 of education and income to reinvest in our services. But despite the funding challenges and the knowledge that the energy transition is only just beginning, we're proud of the role we play - and will continue to play - in the communitie5 we service. and the trust placed upon US.
Acr ON ENERGY CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Board of Trustees continues to be very grateful to our CEO Rachel Jones who has led the Act on Energy team through another challenging year all to the benefit of the local residents and making their lives warmer and healthier. We're proud of our achievements We've supported thousands of people from right across our region offering free and impartial energy advice and access to grants and funding for energy support and energy efficiency grants. Some of our highlights include.. Our freephone advice line is operated by qualified energy advisors who offer impartial information advice and guidance on any energy matter Our qualified outreach officers made more than 1800 home visits - a big increase on the previous year. This is such a vital service for so many of the most vulnerable in our communities. By sitting at home with customers, we can offer the best possible support on their energy needs. These are the most complex cases that we see and sometimes require more than one visit. We launched our new website which is easier to navigate for schemes local to specific area5 as well as up-to- date guidance on the latest news and schemes that are available. We have also added Reciteme to the website which enables our online content to be accessible for a range of needs. Partner organi5ations and professionals continue to refer customers who need our support- more than 850 in the last year alone. We offer a range of drop in event5 for people to meet and hear from our experts presentations to community group5 as well a5 talk5 and We received £lmillion funding from the Energy Savings Trust to continue our flagship Warmer Homes West Midlands programme. This programme is playing a vital role in helping to support residents in the country's highest area of fuel poverty. We welcorned newly elected West Midland5 Mayor Richard Parker to our new Birmingham office to understand more about the pivotal work we carry out across the region. We're proud to be working on innovative. life-changing programmes. such a5 the Direct Access to Wellbeing Service. With some of the highest rates of fuel poverty in the country, vulnerable Birmingham residents are now benefiting from a project that helps to break the cold home ill health - hospitalization cycle. We work with other health care and well being partners in the community to address the needs by also offering income maximations support as well as energy lifelines. Our more rural communities are also served by specific programmes such as the Heart of England Community Fund and Worcestershire Warmth on Prescription. Other local programmes included Keeping Coventry Warm, Warwick Energy Fund. Stratford on Avon Heatiig and Bill Support, Warm and Well in Warwickshire and the Cadent Winter Support Fund. We're trusted partners to deliver energy frnancial sUPPOrt as part of the DWP'S Household Support Fund for Worcestershire County Council, Solihull MBC and Warwickshire County Council. Understanding the need for energy awareness training and qualifications, we opened our brand new training academy which offer5 both accredited and bespoke course5 for individua15 and organizations alike. Courses in Information, Advice or Guidance: Environmental Sustainability: Fuel Poverty and Damp and Mould can be tailored to offer flexibility.
Acr ON ENERGY CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 We've continued to invest in our own employees. training too. with Ofqual recognised qualifications in Information. Advice or Guidance as well as retrofit advice for several of our colleagues. We also continue to offer free training sessions to a range of organisations such as local authorities, NHS and other charities. We trained more than 450 front line professionals under the Energy Outreach Project alone. We've been integral to the delivery of the government's flagship Homes Upgrade Grants scheme providing customer journey support to residents undergoing energy efficiency upgrades. We're also proud of the work beyond our regional borders. We're National Secretariate for the As9Jciation of Local Government officers providing support. advice and training to more than 300 officers. We also share our experknse at national level by using or voice and influence to promote the just transition to net zero and eliminate fuel poverty, helping to shape both policy and future programmes. Eobikl S)Hhlevy Robin Dunlevy Chair of Trustees Date.. 1212212025
Acr ON ENERGY TRusfEES' REPORT (INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the Company's Memorandum and Articles of Association, the Companies Act 2006 and Accountin8 and Reporting by Charities.- Statement of Recommended Practice applicable tocharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK arml Republic of Ireland IFRS 1021" leffective l January 20191. Objectives and activities The Charity's objectives remain unchanged: Educate the public on energy consen4ation and efficiency Promote environmental 5U5tainability Alleviate f uel poverty Key activities include.. Providing free. imparknal advice to the public Promoting energy effi'ciency through marketing and education Delivering educational programs in schools and colleges Managing schemes to encourage energy-saving measures and reduce energy debt Collaborating with charities, ststutory bodies. and other partners These activities support the Charity's strategic aim to reduce energy use, improve home warmth and health, and tackle f uel poverty. By promotr.ng behavioural change, energy efficiency, and renewable technologies, the Charity contributes to climate change mitigation and the UK'S net-zero targets. Public Benefit All acbvities are aligned with the Charity's mission to create warmer. healthier homes and reduce fuel poverty. This benefit5 individua15 and communities by lowering energy demand, supporting energy security, and addressing climate change. The level of advice and support provided to individuals and organizations will be tailored to their needs and ability to utr.lise the advice given. In some circumstances, Act on Energy may make 3 charge for a service, rf it is deemed to be additional to its charitable objects and requiring special skills, training. or equipment.
Acr ON ENERGY TRusfEES' REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Members and their interests Act on Energy is a charitable company limited by guarantee and was incorporated on 25 August 1998 as Warwickshire Energy Efficiency Advice Centre and registered its change of company name to Act on Energy on 30 October 2008. It is governed by its memorandum and articles of association. The liability of members is limited to £10 per member in the event of winding up. The trustees. as listed below, are members of the company and served throughout the year. Trustees The present trustee are shown below. A Boad {trusteel P Evans Itrustee and treasurer) Sjuned {trustee and vice chairman) D Johnston {trusteel M Unwin {trusteel R Dunlevy {trustee and chairman) G Cowcher {tru5teel In accordance with the Company'5 Arhcles of Association, G Cowcher and A Boad will retire by rotation at the next Annual General Meeting and be eligible for re-election. Results and business review The tinancial results for the year are as set out in the annexed accounts. The trustees consider the financial position of the company to continue to be viable. In addition. significant income is available as reserved bank accounts to Service grant funding for energy efficiency improvements to households that qualify and fuel poverty alleviation program's. This funding is provided by our partner local authoritr.es in addition to their service level agreement funding. The charity has also had success in securing funding to support local partnerships through other organizations including some government initiatives. Act on energy is located at Unit 2 Lauriston Business Park. Pitchill, Warwickshire. The Charity relies on funding from- local / regional / national government. project funding bid5 and other partnering agencies. Some income is earned from specialist work such as home and business energy surveys and referral fees from commercial organisations. Governance and Employees The trustees govern the overall business of the Charity and meet quarterly to discuss the charity's performance and consider its future direction. In addition. they hold an Annual General Meeting in accordance with the rules of the Charity- The Trustees receive no remuneration for their services and do not claim expenses. Day-to-day activities are managed by Rachel Jones (chief executive and company secretary), supported by 59 staff members. All advisors hold a minimum level 3 City & Guilds qualifi'cation in Energy Awareness.
Acr ON ENERGY TRusfEES' REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Investment and Reserves Policy The Charity invests surplus funds to maximise income within a low-risk framework. Unrestricted reserves are maintained at a level sufficient to cover approximately four months of operating costs. Risk Management The Charity actively manages strategic and operational risks, including funding loss and advice quality. Measures include: Staff training and ongoing development Professional indemnity insurance {£2m} and public liability insurance I£IOm) Health and safety risk assessments Compliance with Data Protecbon Act 2018 and GDPR DBS checks for staff working with vulnerable individuals Policies and procedures are documented in the staff handbook and regularly reviewed. Auditor In accordance with the company's article5. a re501ution proposing that TC Group be reappointed as auditor of the company will be put at a General Meeting. Disclosure of information to auditor Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confi'rmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The Trustees, report was approved by the Board of Trustees. Mr P Evans Trustee 23 December 2025
Acr ON ENERGY STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are also the directors of Act on Energy for the purpose 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 financi31 year which ge a true and fair view of the state of affairs of the Company and of the incoming resources and application of r&ources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent,. and prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the Company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the tinancial 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.
Acr ON ENERGY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACT ON ENERGY Opinion We have audited the financial statements of Act on Energy (the 'Company'l for the year ended 31 March 2025 which comprise the statement of financial activities. the balance sheet. the statement of cash flows and notes to the financial statements, including signilicant 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 Finoncit71 Reporting Stt7ndard applicoble in the UK and Republic of Irelond (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources. including its 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 requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the oudit of the finonciol stotements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the linancial statements in the UK, including the FRC'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 basi5 for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial ststements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the tinancial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other informatKin and, except to the extent otherwise explicitly stated in our report, we do not expre55 any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing 50, consider whether the other information is materially inconsistent with the fi'nancial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the tinancial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Acr ON ENERGY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ACT ON ENERGY Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of our audit= the information given in the Trustees. report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the tinancial statement5; and the directors, report included within the Trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit. we have not identified material misstatements in the directors, report included within the Trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion= adequate accounting records have not been kept. or returns adequate for our audit have not been réreived from branches not ViSlted by us- or the tinancial statements are not in agreement with the accounting records and returns: or certain disclosures of trustees, remuneration specilied by law are not made,. or we have not received all the information and explanations we require for our audit; or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemptions in preparing the Trustees, report and from the requirement to prepare a strategic report. Responsibilities of Trustees As explained more fully in the statement of Trustees. responsibilities, the Tru5tee5. who are also the directors of the Company for the purpose of company law, are responsible for the preparation of the financial statement5 and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement whether due to fraud or error. In preparing the linancial statements, the Trustees are responsible for assessing the Company's ability to continue as a going concern, disclosing. as applicable. matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable a55urance about whether the financial statements as a Who are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conthcted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements arise from fraud or error and are considered material if, individually or in the aggregate. they could reasona1Y be expected to influence the economic decisions of users taken on the basis of these linancial statements
Acr ON ENERGY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ACT ON ENERGY Extent to which the audit was considered capable of detecting irregularities, including frdud The objectives of our audit. in respect to fraud. are.. to identify and assess the risks of material misstatement of the linancial statements due to fraud- to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate respon5es,' and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. Our approach was as follows.. We identified areas of laws and regulations that could reasonably be expected to have a material dfect on the linancial statements from our general commercial and sector experience. and through discussi(x) with the director5 and other management las required by auditing 5tandardsl, and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations; We considered the legal and regulatory frameworks directly applicable to the financial statement reporting framework IFRS 102 and the Companies Act 2(K161 and the relevant tax compliance regulations in the UK,. We considered the nature of the industry. the control environment and business performance. including the key drivers for management's remuneration. We communicated identilied laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit- We considered the procedures and contro15 that the company has established to addre55 risk5 identilied, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls. Based on this understanding we designed our audit procedures to identify noTrcompliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address eLh identilied fraud risk. These procedures included= testing manual journals. reviewing the financial statement disclosures and testing to supporting documentation- performing analytical procedures- and enquiring of management. and were designed to provide reasonable a55urance that the financial statement5 were free from fraud or error. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations lirregularitiesl is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing stsndards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing norFcompliance and cannot be expected to detect non-compliance with all laws and regulation5. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https.'//www.frc.org.uk/Our-Work/AuditlAudit-3nd-assurance/Standards-and-guidance/Standards-and-guidance- forauditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor's report. 10-
Acr ON ENERGY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ACT ON ENERGY Use of our report This report is made solely to the charitsble company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work ha5 been undertaken so that we might State to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Makk SHllock Mark Bullock FCA (Senior Statutory Auditor) for and on behalf of TC Group 23 December 2025 Statutory Auditor Celixir House Stratford Business & Technology Park Innovation Way, Banbury Road 5tratFord-upon-Avon Warwickshire United Kingdom CV37 7GZ 11
Acr ON ENERGY STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds Totsl Unrestricted Restricted funds funds Total 2025 2025 2025 2024 2024 2024 Notes Income from: Donations and legacies Charitable activities Investments 6,035 2.908,767 2.914,802 1.200,746 531,263 1.732,009 22,836 81 22.917 215,005 1.173,834 1.388,839 700,064 2.584,121 3.284,185 7,244 1,576 8,820 Total income 1.229,617 3,440.111 4,669,728 922,313 3,759,531 4,681,844 Expenditure on: Charitable activities Other expenditure 1.771,407 2.978,097 4.749,51)4 1.029,261 3.187,273 4.216,534 22,599 22,599 Total expenditure 1.771,407 2.978,097 4.749,504 1.051,860 3.187,273 4.239,133 Net income/(expenditure) 1541,7901 462,014 179,7761 1129,5471 572,258 442,711 Transfers between funds 813,197 {813,1971 1107,2161 107,216 Net movement in funds 271,407 {351.1831 179.7761 1236,7631 679,474 442,711 Reconciliation of funds: Fund balances at l April 2024 654,264 948,566 1.602,830 891,027 269,092 1,160,119 Fund balances at 31 March 2025 925,671 597,383 1,523,054 654,264 948,566 1,602,830 The statement of linancial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 12-
Acr ON ENERGY BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets io 18,316 27,904 Current assets Debtors Cash at bank and in hand li 498,750 1,660,962 612,903 2,108,847 2.159.712 2,721.750 Creditors: amounts falling due within one year Taxation and social security Other creditors 171.965 483.009 146.560 1,000.264 13 654.974 1,146.824 Net current assets 1,504,738 1,574,926 Total assets less current liabilities 1.523,054 1,602,830 Net assets excluding pension liability 1.523.054 1.602,830 The funds of the Company Restricted income funds Unrestricted funds 17 597,383 925,671 948,566 654,264 16 1.523,054 1,602,830 The linancial statements were approved by the Trustees on 23 December 2025 P&fr&r Ev Mr P Evans Trustee Company registration number 03621022 (England and Wales) 13-
Acr ON ENERGY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating artivities Cash labsorbed byl/generated from operations 19 {470.8021 457,815 Investing activities Investment income received 22.917 8,820 Net cash generated from investing activities 22,917 8,820 Net cash used in financing activities Net {decrease}/increase in cash and cash equivalents {447,8851 466,635 Cash and cash equivalents at beginning of year 2.108,847 1,642,212 Cash and cash equivalents at end of year 1,660,962 2,108,847 14-
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information Act on Energy is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 2, Lauriston Business Park. Pitchill. Eve5ham. WRII 8SN. United Kingdom. 1.1 Accountin8 convention The accounts have been prepared in accordance with the Company's Articles of Association. the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practr"ce applicable to charitr.es preparing their accounts in accordance with the Financial Reporknng Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from l January 20161. The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal aOunting policies adopted are set out below. 1.2 Going concern At the tr.me of approving the linancial statements, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the tinancial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Designated funds comprise funds which have been Set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are subject to specitic conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Company. 1.4 Income Income relating to service level agreements with local or regional authorities is recognised when the Company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Typically this is equally over the term of the agreement which tends to be on an accounting year basis. Income relating to general services is recognised when task is completed, typically relating to Energy performance certification and Thermal imaging. 15-
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Income relating to grants or funding from local or regional authorities for specilic activities is recognised when the Company is legally entitled to it after any performance conditions have been met. the amounts can be measured reliably, and it is probable that income will be received. Typically this is when costs are incurred meaning that the criteria for the grant or funding are met. 1.5 Expenditure Resources expensed are included in the Statement of Financial Activities on an accruals basis. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and machinery Fixtures, fitlings & equipment 200A straight line basis IO% straight line basis The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial activities. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitie5. 1.8 Financial instrurnent5 The Company has elected to apply the provisions of Section 11 'Basic Financial Instrumentg and Section 12 'Other Financial Instrument5155ue5' of FRS 102 to all of it5 tinancial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provision5 of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Bosicfinoncial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured transaction price including transaction costs and are subsequently carried at amorhsed cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 16-
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Basicfinancial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transath"on, where the debt instrument is measured at the psent value of the future payments discounted at a market rate of interest. Financial liabilitr.es classifi.ed as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or service5 that have been acquired in the ordinary course of operations from suppliers. Amounts payable are cla55ified as current liabilities if payment 15 due within one year or less. If not, they are presented as norFcurrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition offinancial liabilitie5 Financial liabilities are derecognised when the CompanWs contractual obligations expire or are discharged or cancelled. 1.9 Employee benefit5 The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.10 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Income from charitable activities Unrestricted Restricted Total Unrestricted Restricted Total funds funds funds funds 2025 2025 2025 2024 2024 2024 Sale of professional services Sale of professional services 54,983 54.983 34,516 19,750 54,266 Services provided under contract 1.145,763 531,263 1.677.026 665,548 2.564,371 3.229,919 1.200,746 531.263 1.732,009 700,064 2.584,121 3,284,185 17-
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacies Unrestrirted Restrirted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Donations and gifts Government Grant Income 4,235 4.240 5,500 5,500 1,800 2,908,762 2,910,562 209,505 1,173,834 1,383,339 6,035 2,908,767 2,914,802 215,005 1,173,834 1,388,839 Donations and gifts Other 4,235 4.240 5,500 5,500 4,235 4,240 5,500 5,500 Deferred income Income is deferred when the criteria for recognition of grant funding has not been met. Typically income is released from a restricted fund when costs have been incurred leading to recognition criteria being met. Income from investments Unrestrirted Restrirted funds fvnds 2025 2025 Total Unrestrirted Restricted funds funds 2024 2024 Total 2025 2024 Interest receivable 22,836 81 22,917 7,244 1,576 8,820 Investment income is derived from the Charity's cash savings. 18-
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activities 2025 2024 Direct C05tS Staff costs Depreciation and impairment Projects Rent and rates 2,031,998 9,588 2.311,796 66,315 5,310 54,209 3,373 10,485 11,868 27,379 5,417 19,247 9,679 46,690 75,895 23,805 36,450 1,578,571 6,996 2.197,516 48,934 10,314 16,252 20,272 19,334 10,322 16,944 7,543 18,688 8,002 160,479 74,556 21,811 Training Insurance Expenses Office repair5 and renewals Heat and light Postage Stationery Telephone Marketing Professional fees Computer and IT costs Lease and motor costs Other charitsble expenditure 4,749,504 4,216,534 Analysis by fund Unrestricted funds 1.771,407 2.978,097 1.029,261 3.187,273 Restricted funds 4.749,504 4,216,534 Net movement in funds 2025 2024 The net movement in funds is Stated after chargingl{creditingl'. Fees payable to the charity's auditor.. for the audit of the charity's financial statements for other fi'nancial services Depreciation of owned tangible fixed assets 20,000 17,500 9,588 15,000 19,000 6,996 19-
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Trustees None of the Trustees lor any persons connected with them) received any remuneration or benefits from the Company during the year12024- none). During the year, none of the trustees claimed any expenses from the charity12024 - none). Employees The average monthly number of employees during the year was.. 2025 2024 Number Number Employees 59 51 Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 1.764,793 174,245 92,960 1,389,001 127,638 61,932 2.031,998 1,578,571 The number of employees whose annual remuneration was more than £60,000 is as follows.. 2025 Number 2024 Number £60.001 to £70,000 £70.001 to £80,000 Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2025 2024 Aggregate compensation 328,929 244,255 Other than the remuneration of key management personnel detailed above, there were no transactions with related parknes in the year {2024 - none). -20-
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 10 Tangible fixed assets Plant and Fixtures, fitting5 machinery & equipment Totsl Cost At l April 2024 28,650 46,886 75,536 At 31 March 2025 28,650 46,886 75,536 Depreciation and impairment At l April 2024 Depreciation charged in the year 13,844 2,961 33,788 6,627 47,632 9,588 At 31 March 2025 16,805 40,415 57,220 Carrying amount At 31 March 2025 11,845 6,471 18,316 At 31 March 2024 14,807 13,097 27,904 11 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 355.728 15.912 127.110 422,953 65,898 124,052 498,750 612,903 21
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Operating lease commitments Lessee At the reporting end date the Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. The charity expect to use the break clause next year. as It intends to purchase a head office buikling during the next financial year. 2025 2024 Within one year Between two and five years In over live years 40.500 27.125 31,450 175,000 50,000 67,625 256,450 13 Other creditors falling due within one year 2025 2024 Trade creditors Other creditors Accruals and deferred income 84.328 12.845 385,836 175,748 12,057 812,459 483,009 1,000,264 14 Retirement benefit schemes Defined contribution schemes The Company operates a defined contribution pension scheme for all qualifying employees. The a55et5 of the scheme are held Separately from those of the Company in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes was £92,96012024- £61,932). -22-
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Auditor's remuneration 2025 2024 Fees payable to the company's auditor and associates= For audit services Audit of the financial statements of the company 20,000 15,000 For other services All other non-audit services 17.500 19,000 The nature of the services provided during 2025 was payroll and financial statements preparation. 16 Unrestrirted fund5 The unrestricted funds of the charity comprise the unexpended balance5 of donations and grant5 which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At l April 2024 Incoming resources Resources expended Transfers At 31 March 2025 General funds 654,264 1,229,617 11,771,407) 813,197 925,671 Previous year: At l April 2023 Incoming sources Resources expended Transfers At 31 March 2024 General funds 891.027 922.313 11.051,8601 1107,2161 654,264 -23-
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specilic conditions by donors as to how they may be used. At l April 2024 Incoming resources Resources expended Transfers At 31 March 2025 Service Level Agreements Affordable Warmth Schemes Household Support Funds Sustainable Warmth HUGS Energy Fund Other projects 62,506 18,1751 426,564 87,473 111.960 202.673 497.541 1,440,994 {124,9091 1537,3131 11,525,299) 1140,2701 145.722 34,820 {87,4731 1111,9601 32.112 1686.1481 97,775 377,079 20.792 1.278.111 120,7921 {769,7841 32,112 90,417 268,238 948.566 3,440.111 12.978,0971 1813.1971 597,383 Previous year: At l April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Service Level Agreements Affordable Warmth Schemes Household Support Funds Sustainable Warmth HUGS2 Other Projects 137.880 291.484 1,760.600 132.560 447.685 989,322 175,3741 {299,6591 11.524,4591 145,0871 {335,7251 1906,9691 62,506 18,1751 426,564 87,473 111,960 268,238 190,423 78,669 107,216 269,092 3,759,531 13,187,273) 107,216 948,566 -24-
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Restricted fund5 (Continued) Unrestricted funds These relate to the numerous local and regional service level agreements made with authorities aliJ)g with any 3rd party sales made by the Charity as a part of its ongoing activities. Restricted funds All restricted funds have criteria attached to the funding which require funding to be ring-fenced in a separate bank account. Warm and Well in Warwickshire Home Improvement Pilot - Arranging home visits and assessments to those within the geographical area whom meet eligibility criteria. Referral to appropriate providers for the identified improvement work to be completed. Household Support Fund - is a final safety net for those who are experiencing a crisis and cannot resolve financial difficulties any other way. The HSF provides essential items for people in urgent need. It does not provide cash. The HSF runs across Worcestershire, Warwickshire and Solihull. Keeping Coventry Warm - a project run on behalf of Public Health and Coventry City Council to delmer warmer homes for those diagnosed with a long-term health condition/dis3bility and on a low income. Warm Homes West Midlands- delivering energy advice and support to residents across Birmingham. The Black Country. Solihull. Coventry and Solihull. Provision of Customer Journey Support to for the Midlands Net Zero Hub to support the delivery of the Local Authority Delivery Scheme and the Home Upgrade Grants Scheme across the WMCA area, Warwickshire, and Worcestershire. 18 Analysis of net assets between funds Unrestricted funds 2025 Restricted funds 2025 Total 2025 At 31 March 2025: Tangible assets Current a55ets/lliabilitiesl 18,316 907,355 18,316 1,504,738 597.383 925,671 597,383 1,523,054 -25-
Acr ON ENERGY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Analysis of net assets between funds (Continued) Unrestricted funds 2024 Restrirted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assets/lliabilitiesl 27,904 626,360 27,904 1,574,926 948.566 654,264 948,566 1,602,830 19 Cash generated from operations 2025 2024 IDelicitl/surpus for the year {79.7761 442,711 Adjustments for= Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets {22.9171 9,588 {8,8201 6,996 Movements in working capital.. Decrease in debtors 114.153 1491.8501 169,617 1152,6891 (Decrease) in creditors Cash (absorbed byl/generated from operations 1470,8021 457,815 -26-