Company Reglstratlon Number 04257637 Charity Registration Number 1091513 NorriNGHAM ENERGY PARTNERSHIP (A company Ilmlted by guarantee and not havlng a share capltal) ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2024
NOThINGHAM ENERGY PARTNERSHIP CONTENTS Reference and AdmlnistratlV8 Detalls Report of the board of trustees {Snduding Strategic Report) Report of the Independent Auditors Consolldated Statement of Flnancial Activlties (Current Year) 12 Consdidated Statement of Financlal Activities {Prlor Year) 13 Consolidated Statement of Financial Position 14 Consolldated Cash Flow Statement 16 Notes to the Consolidated Cash Flow Statements 17 Notes to the Consolidated Financial Statements 18
NOThINGHAM ENERGY PARTNERSHIP (A Gompany limited by guarantee and not having a share capital) REFERENCE AND ADMINISTRATIVE DETAILS Trusteès Ashley Baxter Paul Collins Alexander Foster Dave LFversidge Julian Marsh Dr Robln Wllson Secretary Philip Angus Senlor Management Team Miranda Cumberbatch - Chief Executive Philip Angus- Assistant Dlrector Darren Barker- Contract and Home Improvement M8nager R•gl8ter•d offlc• Queens Walk Community Centre Queens Walk Nottlngham NG2 2DF Company Reglstratlon Numb•r 04257637 Charlty R•gl8tratlon Numb•r 1091513 Audltor8 Rogers Spencer Newstead House Pelham Road Nottingham NG5 1AP Banker8 Natwest 16 South Parade Nottlngham NG12JX
NOThINGHAM ENERGY PARTNERSHIP (A company Ilmlted by guarant•• and not having a share capltal) REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 The trustees. who are directors for the purposes of company law, present the annual report together with the financial statements for the year ended 31 March 2024. Structure. gov8rnanGe and managomont Naturn of govemlng documen£ Nottingham Energy Partnership is a company limited by guarantee and registered charity. It is incorporated under the Companies Act 2006 (Company number: 04257637) and a registered charity {Charlty number: 1091513). It is operated under the rules of Its Memorandum and Articles of Assoclatlon dated 23 July 2001. It has no share capital and the Ilablllty of each member In the event of wlndlng-up is limited to £1, ' Racrultment and appolntment of trustees Trustees are appolnt8d, as representatives of the Local Authorftles that we serve, of Hlgher Educatlonal Estsbllshments, and for professlonal expertise - appointed by organlsations or direct approach. There is no maximum and the mlnimum number is three. Senlor stsff pay pollcy The pay of senior staff is reviewed annually. Any increase in excess of the cost of living Ss subject to performance review. Rolatlon8hlps wlth related partl88 NEP Energy Sèrvlces Llmlted The charity owns 100 % of the issued share capltal of NEP Energy Services Llmlted, company number 06542138. This company was formed as the tradlng subsldiary of the charlty. Objects and actlvltl Objocts and alms NEP'S aims are to advance the education of the publlc concerning energy efflclency Includ5ng the alleviation of fuel poverty, and protect the environment and.public health through the provlsion and use of energy in ways that reduce harmful emissions and Sn so doing create new jobs In the energy effKiency sector. ObJe¢dves, strategles and aotlvltles Referral systems for energy efficiency. heating measures, fuel vouchers and energy advice for vulnerable clients. Support for installing measures, sourcing grants and prolect managing grant aided projects. PubllG Benefit Warm, dry homes Improve health. Energy efflclency reduces fuel bills, energy bllls for clients and carbon dioxide 8mlsslons and renewables generate fossil fuel free energy. The Trustees confirm that they have complied with the requlrements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance publlshed by the Charity Commission for England arKI Wales. Achlov•ments and performance Customer Journey Support for prSvate sector homes through Government grants administered by East MKllands Net Zero Hub. Contract to dellver CJS serviGes across Nottinghamshlre ar Derbyshire in partnership with the Clty, County and Borough Councils.
NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guaranlee and not havlng a share capital) REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 (continued) Achievements and perfomiance (contlnuad) The projects result In free External Wall Insulation and PV solar panel installations for low income families", Local Authority Delivery Phase 2 Home Upgrade Grant delivered the following measures during the year 18 solld wall Insulation, 161ofi and cavlty wall insulation, 41 solar PV Installs, 7 Air Source Heat Pumps,. Fuel Bill savings to customers calculated at £869.000 Nottlngham8hlro Healthy Houslng ServlrA SUPPOrt8 vulnerable and disadvantaged households throughout the County, either elderly or those families with chlldren, with the following inteNentions. Training for frontline staff about fuel poverty and the impact of cold homes on health Installation of energy efficlency measures - loft and cavity wall insulation HeatSng: boiler replacements and repalrs Energy blll comparlsons Income maxlmSzatlon Referrals to health and wellbelng serrfices ome visits East Mldlands Affordable Wamith funded by National Grid for vulnerable households across their distribution nefvA)rk areas in the East Midl8fKls. The alm was to raise the energy efficiency of low-income and low EPC rated homes. NEP partnered with several community organlsatlons across the East Midlands to support a total of 3500 households, which resulted In W5th the following results", 2569 households {730A} slgned to the Prlority Service Reglster The value of savings: £6,219,743 The average of savings per household: £1,777 Savings derlved from Heating technologles Inc. controls Home insulatlon Fuel bill discounts Income maximisation Behaviour change Power UP Health, fiJnded by Western Power Distrlbutlon, focused on registratron to the Priority Services Register and targeted very specifically at households where O¢xupants relied on electrically powered medlcal equipment {e.g. mobiltty alds. oxygen cOnntratOrs, dialysls machines etc}. Total number of households supported - 757 Value of annual savlngs for households - £219,045 Green Meadows funded by the National Lottery Climate ActSon Fund; To provide facilities, tralnlng and materials to enable Meadows residents to better understand Climate Change and tske action. The project runs DIY workshops on the use of sustainable buildlng products for energy efficiency (woodfibre Intemal wall insulation, lime plasters). 'room in a roof technlques, underfloor insulation. air tight membranes and tapes. also introductory lessons on how to US8 power tcmjls, basÈc joinery and plumbing. Other events include a Green Meadows Festival in September. Open Homes vlslts, gardening and food groups and delivering lessons to all Primary schools in the Meadows area. HEAT Hub. The HEAT Hub is funded by the Department of Energy Security and Net Zero arKI locally managed by the MidlarKls Net Zero Hub (MNZH). The service is designed to accelerate resident plans to improve the energy effKiency of privale sector homes.
NOTTINGHAM ENERGY PARTNERSHIP (A company limlted by guarantoe and not havlng a share capital> REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 (continued) Achlevements and performanGO (contlnued) The emphasis is on the provision of expert Independent advice In-person to evaluate Its Impact Versus digital and telephone channels of communicatlon. Home owners living in "hard to treat homes" i.e., those that are older, in a Conservatlon Area andlor are the lowest performing in t8rms of energy efficiency are the target. Horneowners livlng in areas 7-10 on the Index of multiple deprivation are ellglble. Engagement activltles Include,. events. workshops and webinars as well as retrofit home surveys arKI personalised Futu Flt Home Energy Plans that provlde a step by step gulde to retrofitting the home, Including specialist advice on Air Source Heat Pumps Communlty Fund Is provided by Nottinghamshire Community Energy through surplus funds from thelr Langar Lane solar farm. NEP delivers small grants on their behalf to charities in Nottinghamshlre and the cty. Con8•rvatlon Retrofit Catalyst developed our Practical Introductlon to Conservation Retrofflt course, accredited to Level 2, attended by 32 trainees to learn the theory and pr8Ctise of conseNatlon retrofit. The fundlng from Energy Address 8lso allowed for the development of on online manual of conservation retroflt drawings and guldance. Flnanclal r•vlow NEP has increased turnover in the year compared wlth the previous flnanclal year, in part due to underspends belng accrued into thls year. A mid terrace house was purchased with the alm of demonstratlng domestic retrofit technlques so that local resldents can learn hands-on skills to use on their own homes, utilising blo-based insulation materlals and 'breathable' plasters. The HEAT Hub project started wlthln the year, unlquely aimed at the 'able to pay, homeowner. The project incorporated the learning from the Conservatlon Retrofit Catalyst around the use of 'breathable' materials and wlll produce reports based on Retrofft Assessments, effectlvely a modified version of the Green Meadows Future Fit reports. Pollcy on reserves NEP alms to keep 6 months of oporatlng costs in reserve. The reserves during thls period was malntained above this level Prlnclple rlsks and uncartalntlos The principle risks are mainly politlcal., the Gontinuatlon of grant funding for vulnerable home owners. NEP is always In competition wlth other providers of project management services to Government agencles and Local Authoritles, these being lh8 main income streams to support our servlces to the publlc. Plans for future perlods At some point when all demonstration vK>rk is completed vrfe wlll be able to sell the domestic mid terrace property. We are aware of the financial difficulties of the City Council and the Issues around selllng off the community centre in which NEP has had an office for the last 3 years. The Community Association d06S not have a viable futu If the terms of the Counc51 are pushed through. NEP has been asked to consider buying the Centre and becoming the landlord of the propety. There are signtficant repair costs to this possible option that would impact on the reserrfes of NEP. The HEAT Hub has the possibility of developlng into a viable future income stream after the project has ended. Overall we can expect a reduction In any surplus as accruals recede and past deferred income is spent. plus a reduced turnover as current projects reach their end date
NOTTINGHAM ENERGY PARTNERSHIP (A company Ilmlted by guarantee and not having a share Gapltal) REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 (contlnued) STATEMENT OF TRUSTEES. RESPONSIBILrriES IN RELATION TO THE FINANCIAL STATEMENTS The trustees (who are also directors of The Renewal Trust for the purposes of company law) are responsible for preparing the Directors Report and the financial statements In accordance with applicable law and United Klngdom 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 financlal statements unless they are satisfied that they glve a true and fair view of the state of affairs of the charltable company and of the incoming resources and appllcatlon of resources, induding the income arKI expenditure, of the charltable company for that period. In preparing these financial statements. the.trustees are required to: select sultable accounting policles and then apply them conslstently; observe the methods and principles in the Charities SORP 2019 (FRS 102); make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed subject to any materlal departures disclosed and explained In the financial statements,. prepare the financial statements on the going concern basis unless it Is Snappropriate to presume that the charltable company will contlnue in operation. The trustees are responslble for keeping adequate accounting records that disclose with reasonable accuracy at any time the financlal position of the charltable company and enable them to ensure that the flnanclal statements comply wlth the Companies Act 2006. They are also responslble for safeguardlng the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitles. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditor is unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit Informatlon and to estsbllsh that the auditor is 8W8re of that infomiation.
NorriNGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital) REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 Icontinued) AUDITORS A resolution will be proposed at the Annual General Meeting that Rogers Spencer be re-appointed as auditors to the charity for the ensuing yeaf. This report has been prepared havirYJ tsken advantage of the small companie8 exemption in the Companies Act 2006. Approved by the Board of Trustees and signed on its behalf ave Liversidge- Trustee Dated.
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS of NOThINGHAM ENERGY PARTNERSHIP Oplnlon We have audited the financial statements of Nottingham Energy Partnership (the 'pgrent charltable company,) and its subsidiary (the 'group') for the year ended 31 March 2024 which comprise the consolidated Statement of Financial Activities, the group and parent balance sheets, the consolidated cash flow statement and notes to Ihe financial statements, Including significant accountlng pollcles. The financlal reporting framework that has been applied in thelr preparation is applicable law and United Kingdom Accounting Standards, IncludirrfJ Financial Reportlng Standard 102 The FlnanGlal Reporting Standard applKable in the UK and Republic of Ireland (Unlted Kingdom Generally Accepted Accounting Practice). In our opinion the financlal statements: give a true and falr vlew of the state of the group's and parent charitable Gomp8ny's affairs as at 31 March 2024. and of the group's incomlng resources arKI applicatlon of resources, including Its income and expenditure, for the year then ended; have been properly prepared in accordance with Unlted Klngdom Generally Accepted Accounting Practlce: and have been pr8par8d In accordance wlth the r8qulrem8nts of the Companies Act. Ba818 for oplnlon We conducted our audit in accordance wlth Internatlonal Standards on Audltlng (UK) (ISAS (UK)) and applicable law. Our responslbllities under those standards are further descrlb8d In the auditor responsibilltles for the audlt of the financlal stalements section of our report. We are independent of the group and parent charltable company In accordance viith the ethlcal requirements that 8re relevant to our audit of the financlal statements in the UK, Including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance wlth these requirements. We bell8V8 that the audit evidence we have obtalned18 SLrfficient and approprlate to provide 8 basis for our oplnlon. Concluslon8 relatlng to golng concern In auditing the financlal statements, we have concluded that the trustees, use of the golng concern basis of accounting in the pr8paratlon of the financial statements Is appropriate. Based on the work we have performed, we have not Identified any materlal uncertainties relating to events or condltlons that, indt¥idually or collectively. may cast significant doubt on the group and parent charitable company'8 abllity to continue as a going concern for a perlod of at least twelve months from when the flnancial statements are authorlsed for issue. Our responsibilities and the responslbS1ities of the trustees wlth respect to going concern are described In the relevant sections of thls report. Othor Infonnatlon The other informatlon comprises the informatlon induded in the trustees, annual rep(xt, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other informatlon. Our opinion on the financlal ststements does not cover the other information and. except to the extent othep•vise explicitly stated in our report, we do not express any form of assurance Gonclusion tfire0n. Our responsibillty Is to read the other informatlon and, in doing so, conslder whether the other information is materlally Inconslstent with the financial statements or our thowledge obtained in the course of the audlt or otherwise appears to be materially misstated. If we id8ntfy such material inconsisl8ncie5 or apparent material misstatements. we are required to determine whether this gives rise to a material mStatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a rnaterial misstatement of this other information. we are required to report that fact. We have nothing to report in thls regard.
INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS of NorriNGHAM ENERGY PARTNERSHIP (continued) Opinions on other matters prescrlbed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of audit.. the information given in the trustees. report for the financial year for which the financlal ststements are prepared Is conslstent wlth the financial statements," and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained In the course of the audlt, we have not identified material misstatements in 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 oplnion: adequate accountlng records have not been kept by the parent charitable company, or returns adequate for our audtt have not been recelved from branches not visited by us,. or the parent charitable company's flnanclal statements are not In agreement wSth the accounting records and returns,. or certaln disclosures of trustees. remuneration specified by law are not made; or we have not receive(l all the infomiation and explanations we require for our audlt.; or the trustees were nol entitled to prepare the financial statements in accordance wEth the small companies, regime and tske advantage of the small companies, exemption from the requirement to prepare a stralegic report. R8spon8lbllltles of trustees As explained more fully in the trustees, responsibilities 8tstement, set out within the Report of the Board of Trustees, the trustees {who are also the directors of the parent ckrdritable company for the purposes of company law) are responslble for the preparation of the financial statements and for belrKJ satisfied that they gtve a true and falr vlew, and for such Internal control as the trustees determine is necessary to enable the preparatlon of flnanclal statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assesslng the group and parent charitable company's ability to continue as a going concem, disclosing, as applicsble, matters related to going concem and using the going concern basis of accounting unless the trustees either Intend to Ilquldate the group or the parent charitable company or to cease operations, or have no reallstSc alternatlve but to do so. Audltor's responslbilitles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materlal misstatement, whether due to fraud or error, and to issue an audltorfs report that includes our opinion. Reasonable assurance Is a high level of assurance but is not a guarantee that an audlt conducted In accordance wlth ISAS (UK) will alvRys detect a material misstatement when it exlsts. Misstatements can arise from fraud or error and are consldered material rf, individually or in the aggregate. they could reasonably be expected to Influence the economSc decisions of users taken on the basis of these financial statements. Irregularities, induding fraud, are instances of non-compliance with law5 and regulatlons. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of deteGting irregularltles, inGluding fraud is detailed below.
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS of NorriNGHAM ENERGY PARTNERSHIP {contlnued) The extent to whlch the audit was considered capablo of detecting Irregularltles includlng fraud Our approach to identifying and assessing the risk of material misstatement In respect of irregularities, Including fraud and non-compliance with laws and regulations, was as follows.. The engagement partner ensured that the engagement team collectlvely had the approprlate competenc8, capabilities and skills to Sdentlfy or recognise non-cornpllance with applicable lav arKJ regulatlons,. We identlfled the laws and regulations appllcable to the group through discusslons with trustees and other management, and from our knowledge and experience of the charity sector and grant providers; We focused on SpeClC laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group, Including the Companies Act 2006. Charlties Act 2011, taxation leglslation and data protection, antl-bribery, employment, environmental and health and safety leglslatlon. We assessed the extent of compliance With the laws and regulations IdentSfied above through maklng enquiries of management and inspecting legal correspondence; and Identlfled laws and regulations were communicated wlthin the audit team regularly and team r8malned alert to instances of non-compllance throughout the audit. We assessed the susceptlbility of the group's fflnancial statements to materlal mlsstatement, Induding obtaining an understanding of how fraud might occur, by: Making enquiries of management as to where they consldered there was susceptlbility to fraud, thelr knowledge of actual, suspected and alleged fraud", Considerlng the internal controls in place to mitigate rlsks of fraud and non-compllance with laws and regulatlons: and Understandlng the design of the group's remuner8tion policles. To address the rlsk of fraud through management blas and override of controls, we: Perfornied analytical procedures to identlfy any unusual or unexpected relatlonshlps,. Tested journal entries to identlfy unusual transactions: Assessed whether judgements and assumptlon8 made in determining the accounting estimates set out in note 3 were indirAtive of potential bias. and Investigated the rationale behind significant or unusual transactions. In response to the rlsk of irregularltles and non-compllance with laws and regulatlons, we designe procedures which Included, but were not limited to: Agreeing financial statement disclosures to underlying supporting documentation; Reading the minutes of meetings of those charged with governan. Enquiring of management as to actual and potential litigatlon and claims,, and Reviewing correspondence wlth HMRC, relevant regulators and the company's legal advisors. There are inherent limitatlons in our audit procedures descrlbed above. The more removed that laws and regulats'ons are from financial transactions. the less likely it is that ¥ would become aware of non- complian. Auditing standards also limit the audit procedure5 required to Identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence. rf any. Material misstatements that arlse due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or colluslon. io
INDEPENDENT AUDrroR'S REPORT TO ThE MEMBERS of NorriNGHAM ENERGY PARTNERSHIP (contlnued) A further description of our responsibilities for the audit of the financlal statements is located on the Financial Reporting Council's website at.. https:Ilwww.frc.org.uklauditorslaudit-assurancelaudrtor-s- responsibil1ties-for-the-audit-of-the-fildescriptionf-the-8udit0r%E2¥080oIQ99S-TesponSibilit1es-f0r. Thls description forms part of our auditorfs report. Use of our report Thls report is made solely to the charttable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's niember8 those matters vrfe are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responslblltty to anyone other than the charltable company and the charltable company's members as a body, for our audlt worl for this report, or for the oplnions we have formed. 20/12/24 Melvln Ballay FCCA DChA (S•nlor Statutory Audltor) For and on behalf of Rog•r8 Spencer Chartered Certlfl•d Accountants Statutory Audltor Newstead Hou8• P•lham Road Nottlngham NG5 1AP Rogers Spencer is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. li
NorriNGHAM ENERGY PARTNERSHIP CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporaung an Income and Expendlture Account) FOR THE YEAR ENDED 31 MARCH 2024 Unre8trictad Funds Restrictad Funds Total 2024 Total 2023 Current Flnanclal Year Notes INCOME: Donations and legacies 140 872 1088015 716291 Incomo from othor tradlng a¢tivltlo8: Commerclal trading operations Sundry Income 63,885 3,506 63,885 3,508 114,816 3,757 118573 Inve8tment Income 30,185 30,185 7,299 Income from charltable actlvltles: Grants and contracts Sales and fees Sundry income 654,814 1.636 854,614 21,519 438.601 41,299 12.018 676 133 18 19,883 19883 656 250 TOTAL INCOME EXPENDITURE: Cost of ra181ng fund8: Commerclal trading operatlons 73,427 73,427 98,495 Charltabla actlvltles Expendlture on charitable activltles 625,127 705,984 1,331,091 1,055,312 TOTAL EXPENDITURE Net (expenditure)lincome before transfers Gross transfers beiween funds 10 22 366,048 91,158 457,206 180,274 Net movement of funds In year 366,048 91,158 457,206 180,274 RECONCILIATION OF FUNDS Total funds brought fornvard 1.241,778 229.390 1,471,168 1.290.894 Total funds Garriod forward The statement of financial activities includes all gains and losses recognised In the y&3r. All incoming resources and resources expended derive from continuing activities. .The notes on pages 18 10 33 form part of these financial statements. 12
NorriNGHAM ENERGY PARTNERSHIP CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Incomo and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Funds Restricted Funds Total 2023 Prior Financial Yoar Notes INCOME: Donatlons and legacles 716 291 716291 Income from other tradlng actlvltlas: Commercial trading operatlons Sundry income 114,816 3,757 118573 114.816 3.757 118573 Investment Income 7,299 7.299 InGom• from charltable actlvltle8: Grants and contracts Sales and fees Sundry Income 438,601 438,801 41,299 12,018 491918 41,299 11,670 348 438 941 TOTAL INCOME EXPENDrruRE: Cost of ral8lng funds: Commercial trading operations 98,495 98,495 Charltable aGtlvltl08 Expenditure on charitable activities 688,529 366,783 1,055,312 TOTAL EXPENDITURE Net (expenditure)lincome before transfers 10 108,108 15,430 72.168 (15,430) 180,274 Gross transfers between funds Net movement of funds in year 123,538 56.736 180,274 RECONCILIATION OF FUNDS Total funds brought forward 1,118,240 172,654 1,290.894 Total funds carried forward The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continulng activities.. The notes on pages 18 to 33 forni part of these financial statements. 13
NorriNGHAM ENERGY PARTNERSHIP (A company limitsd by guarantee and not having a share capital) CONSOLIDATED AND PARENT COMPANY STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2024 Group Company 2024 2024 2023 2023 Nots Fixed assets Tangible assets Investments 15 518,568 21,206 291,713 494,941 17,955 291714 312 919 494.942 Current assets Investments Debtors Cash at bank and in hand 17 18 500.000 439.226 500.000 330,153 736 712 500,000 427,328 905,775 500,000 308,891 2,008,830 1,566,865 1,833,103 1,372,738 Creditor•: Amounts falling due within one year 19 174,024 83,6161 166,727 75,619 Not Currnnt as•ets 1834 806 1483 249 1666 376 1297 117 Total a8set1888 current Ilablllti•8 2,353,374 1,796.168 2,181,318 1,606,786 Creditor• Amount falling due after more than one year 20 325 000 425,000 325 000 Net A880ts 1928 374 1471168 1738 318 1281786 Fund8: Unr08tr1cted funds 1,807,826 1,241,778 1,415,770 1,052.396 Rastrlctod fund8 22 320.548 229,390 320,548 229,390 1928,374 1471 168 1,736,318 1,281,786 The notes of pages 18 to 33 form part of these firkgncial stalements. 14
NorriNGHAM ENERGY PARTNERSHIP {A company limited by guarantee and not havlng a share capital) CONSOUDATED AND PARENT COMPANY STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2024 (continued) The trustees have prepared group accounts in accordance with Section 398 of the Companies Act 2006 and Section 138 of the Charities Act 2011. In accordan wth the provisions of the Companies Act 2006, a separate statement of financial 8Ctiviiies dealing with the results of the parent charitable company only has not been presented. Gross income of the charltable company of £1,792,053 (2023.. £1,214.781) and net income of £454,532 (2023: £155,209) has been dealt with in the accounts of the charitable company. These financial statements were approved by the directors on ..... thelr behalf by: ..and sned on ve Liversldge - Trustee The notes of pages 18 to 33 fomi part of these financial statements. 15
NOTTINGHAM ENERGY PARTNERSHIP {A Gompany limited by guarantee and not having a share capital) CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 Notes 2024 2023 Cash flows from operatlng actlvltles 521482 99,604 Cash flows from Invasting actlvlties Interest incomel(expenditure) Purchase of tangible fixed assets 30,q85 7,299 Cash used in investlng activltles 193 590 Increasel(decrea88) In cash and cash equlvalents 332,892 81,344 Cash and eAsh equlval•nts at 1 April 2023 736,712 655,368 Total cash and cash equlvalents at 31 March 2024 1,069,604 736 712 The notes of pages 18 to 33 form part of these financial statements. 16
NOTfiNGHAM ENERGY PARTNERSHIP (A company Ilmited by guarantee and not having a share capltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 1. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FROM OPERATING ACTIVITIES 2024 2023 Net Incomel{expendlture) for the year before Interest received and paid 427,21 172,975 Depreciation charges 18.126 11.604 (Increase)Idecrease in debtors (109.073) {98,538} Increasel(decrease) In credltors Net ¢a8h Inflow from oporatlng actlvftlos 2. CASH AND CASH EQUIVALENTS Year ended 31 March 2024 31 March 2024 31 March 2023 Ca8h and cash •qulvalènts 1069 604 Year ended 31 March 2023 31 March 2023 31 March 2022 Cash and cash equlvalents 736,712 855,368 655,368 The notes of pages 18 10 33 form part of these financial statements. 17
NOINGHAm ENERGY PARTNERSHIP (A company limited by guarantee and not havlng a share capital) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 STATUTORY INFORMATION Nottingham Energy Partnership Is a private company, limited by guarantee reglstered in England and Wales. The Company's registered number and registered office address can be found in the Statutory Information on page 2. ACCOUNTING POLICIES The prlncipal accounting pollcles adopted, judgements and key sources of estimatlon uncertalnty in the preparation of the financial statements are set out below. These policies have been Gonsistently applied to all the years presented, unless othertrvlse ststed. Statement of compllance The financial statements have been prepared In accordance wlth Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charltles preparing thelr accounts In accordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued in October 2019) - (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the Unlted Kingdom and Republic of Ireland .{FRS 102). the Charities Act 2011, the Companles Ad 2006 and UK Generally Accepted Accounting Practice. Ba818 of preparatlon Nottingham Energy Partnership meets the definltlon of 8 publlc benefit entty under FRS 102. The financial statements are prepared In sterllng whlch Is the functfonal currency of the charlty and rounded to the nearest £. As8ets and Ilablllties are Inltlally recognised at historical cost or transaction value unless othepNlse stated in the relevant accountlng polScy note. Basls of Con8olldatlon The financial statements consolldate the results of the charitable company and its wholly 0ed subsidiary N.E.P. Energy Services Limited on a Ilne by Ilne basis. N.E.P. Energy Servlces Llmlted has tak8n advantage of the exemption from audit under sectlon 479A of the Companle&'Act 2006 relatlng to subsldlary companles for the period ended 31 March 2023. The reglstered offtce of the subsidlary cornpany Is the same as Nottlngham Energy Partnership. Golng concem The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertalntles related to events or condltions which may cast significant doubt on the ablllty of the charity to contlnue as a golng concem. The trustees make this assessment in respect of 8 period of one year from the date of approval of the financial statements. Incom• Voluntary income Induding donatlons. glfts. legacles and grants that provide core funding or are of a general nabjre is recognised when the charity has entltlemenl to the income, it is probable that the income will be received and the amount can be measured with sufficlent reliabilty. DonatnS and legacies Donatlons are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a (Sonation is subject to conditions that require a Ve1 of performan by the charlty before the charlty Is entitled to the funds, the income is deferred and not recognised untS1 elther those conditlons are fully met, or the fulfilment of those conditions Is wholly within the control of the charity and it is probable that these condltlons wlll be fulfilled in the reportlng perv)d. 18
NorriNGHAM ENERGY PARTNERSHIP (A company limit by guarantee and not having a share capltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 2. ACCOUNTING POLICIES (CONTINUED) Gr8nts reGeivable Grants are recognised when charity has an entitlement to the funds and any conditions Ilnked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognlsed as a liabilty and Included on the balance sheet as deferred Income to be released. Ro8ourco8 oxpended All expenditure is recognlsed once there is a legal or constructive obligation to that expenditure, tt is probable that settlement is required and the amount can be measured rellably. All costs are allocated to the appllcable expendlture heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent wlth the use of resources. with central staff costs allocated on the basis of Ilme spent, and depreclation charges allocaled on the portion of the asset's use. Other suppr)rt costs are allocated based on the spread of staff costs, Charltable aotivities Charltable expenditure comprlses of those costs incurred by the charity in the dellvery of Its activities and services for Its beneficlaries. It includes both costs that can be allocated dlrectly to such activities and those costs of an indlrect nature nys88ry to support them. Government grant8 Government grants are recognlsed based on the accrual model and are measured at fair value of the asset recelved or receivable. Grants are dassified as relatlng elther to revenue or to assets. Grants relatlng to revenue are recognised In income over the perlod in which the related costs are recognlsed. Grants relating to assets are recognised over the expected useful lrfe of the asset. Where part of a grant relating to an asset is deferred, It Is recognised as deferred Income. Taxatlon The charity Is consldered to pass the tests set out In Paragraph 1 Schedule 6 of the Flnance Act 2010 and therefore meets the definition of a charitable company for UK corporatlon tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of Incorne or ¢apitsl gains received wlthln categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sectlon 256 of the Taxation of Chargeable Gains Act 1992, to the 8Xtent that suth Income or galns are applied exclusively to charltable purposes. Tangible Flx•d assets Individual fixed assets costing over £500 are Inltlally recorded at cost, less any subsequent accumulated depreciatlon and subsequent accumulated impairment losses. Depreclatlon and amortlsatlon DepciatIon Is provided on tangible flxed assets so as to wrlte off the cost or valuation, less any estimated residual value. over their expected useful economic lrfe as follows: Freehold land and buildlngs 2Yo Straight line Furniture and equipment 250h straight line Computer equlpment 330 straight line InVlment propertlos Investment property is carried at fair value, derived from current market prices for comparable real estate determined annually by extern81 valuers. The valuers use obseNabl8 market prices, adjusted if necessary for any drfference in nature, locatlon or condition of the specific 885et. Changes in fair value are recognised in profit or loss. 19
NOTTINGHAM ENERGY PARTNERSHIP (A company Ilmlted by guarantee and not having a Share capital) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 2. ACCOUNTING POLICIES {CONTINUED) Fixed asset Investmonts Fixed asset investments, OtOr than programme related Imiestments, are Included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year. or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised galns and losses represent the movement In market value during the year and are credited or charged to the Ststement of Financlal Actlvltles based on the market value at the year- end. Current asset Investmentg Current asset investments are included at the lower of cost and net realisable value I market value. Dabtor8 Trade debtors are amounts due from customers for merchandlse gold or senilces performed In the ordlnary course of buslness. Trade and other deblors are recognlsed initially at the trans8Ction price. They are subsequently measured at arnortlsed cost using the effective interest method, less provision for impairment. A provision for impairment of debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Ca8h and cash oqulvalonts Cash and cash equivalents comprlse cash in hand ar on call deposits, and other short term hlghly Ilquld Investments that are readily convertible to a known amount of cash and are subject to an Inslgntficant risk of change in value. Cradltors Trade creditors are obligations to pay for goods or servlces that have been acqulred In the ordinary course of business from suppliers. Accounts payable are classffled as current liabilities If the charity does not have an uncondltlonal rlght, at the end of the reportlng period, to (lefer settlement of the credltor for at least bNelve months after the reporting date. If the Is an uncondltlonal right to defer settlement for at least twelve months after the reportlng date, they are presented as non-current liabilities. Creditors are recogniséd Initialty at the transaction price and subsequently measured at amortlsed cost uslng the effective interest method. Fund structure Unrestricted income funds are general furKls thal are available for use at the trustees, discretlon in furtherance of the ObJIS of the charty. Restrlcted Income funds are those grants for use in a parti¢ular area or for specific purposes. the use of which is restricted to that area or purpose. Penslons and other po8t retirnment obligations The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charty. Pension costs charges in the Statement of Financial Activities represent the contributions payable by the charity durlng the year. 20
NOThINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEMEKrs YEAR ENDED 31 MARCH 2024 3. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the applicatlon of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptlons are reviewed on an ongoing basis. Revissons to accounting estimates are recognised In the perlod in which the estimate is revised where the revision affects only that period, or in the period of the revlsion and future periods where the revision affects both current and future periods. 4. INCOME FROM DONATIONS AND LEGACIES Total Funds 2024 Total Funds 2023 Unr•strlcted Funds R88trlcted Funds Donations and le Donations from companies, Trusts and slmilar proceeds Grants R ivabl Government grants Grants from other charilies Grants from companies 610 610 643,587 60,090 242,856 140,872 784,459 60,090 541,568 2,250 172,475 1088,016 716 291 Total Funds 2023 Unrestricted Funds Restrlcted Funds Donatlons and le Donations from companies, Trusts and similar proceeds Grants R ivable: Government grants Grants from other charities Grants from companies 541,566 2.250 172,475 541,586 2,250 172,475 716,291 716,291 Total 2024 Total 2023 Analysls of Government grants: Nottinghamshire County Council Nottingham Trent University Nottingham City Councll 221,662 1,512 561,285 539.101 2,465 784,459 541,556 21
NorriNGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a shara capltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 4. INCOME FROM DONATIONS AND LEGACIES (contlnued) Total 2024 Total 2023 Analysls of grants from ¢ompanl•s: E-on Energy Solutions National Grid Electricity Distribution 15,733 156 742 242 856 172475 5. INVESTMENT INCOME Total Funds 2024 Totsl Funds 2023 Unrestrlcted Funds Rtrf¢tod Funds Interest recelvable on bank depostts Income from current asset Investments Income from investment propety 9,830 13,750 9.830 13,750 2,914 1,750 2,635 7,299 Total Funds 2023 Unrestrlcted Funds Restricted Funds Interest receivable and similar income: Interest receivable on bank deposits Income from current asset investments 2,914 4,385 2,914 4,385 7,299 6. INCOME FROM GRANTS AND CONTRACTS Total Funds 2024 Total Funds 2023 Unre8trlcted Funds Restrlct Funds Charity Cadent Foundation Energy Redress National Lottery Community Fund Nottinghamshire Community Energy Others 40,000 257.000 339.614 18,000 40,000 257,000 339,614 18.000 30,000 92,376 306,525 9.000 700 438,601 22
NOTTINGHAM ENERGY PARTNERSHIP (A company Ilmlted by guarantee and not having a Share rApltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 6. INCOME FROM GRANTS AND CONTRACTS (continued) Total Funds 2023 Unrestricted Funds Restricted Funds Charity Cadent Foundation Energy Redress National Lottery Community Fund Nottinghamshire Community Energy Others 30,000 92,376 306,525 9,000 700 30,000 92,376 306,525 9,000 700 438 601 7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Total Funds 2024 Total Funds 2023 Unr•8trlct8d Fund8 Restrlcted Fund8 Direct expenses Salarles, Nl and penslons Premises costs Professlonal fees Dèpreciation Administration Other expendlture Governance costs (note 8) Overhead reallocatlon 296.956 215,404 2,157 22,225 14,657 49,191 194,848 388,858 22,720 27,306 491,604 604,262 24,877 49,531 14,657 112,100 287,903 517,871 23,143 3,052 10,380 186,350 21,765 24,848 62,909 32,751 1,309 34,060 625,127 1331.091 1055 312 Total Funds 2023 Unrestricted Funds Restricted Funds Dlrect expenses Salaries, Nl and pensions Premises costs Professional fees Depreclation Administration Other expenditure Governance costs (note 8) Overhead realloGation 248,016 383,857 14,139 3.052 10,380 67,757 6,842 24.848 39.887 134.014 9,004 287,903 517,871 23,143 3,052 10,380 166,350 21,765 24.848 98.593 14,923 70,362 688,529 366.783 1,055,312 Support costs have not been separately allocated and disclosed as the Trustees believe they are Immaterlal to the firk2ncial statements. 23
NorriNGHAM ENERGY PARTNERSHIP (A company limited by guaranteo and not havlng a share capltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 8. ANALYSIS OF GOVERNANCE COSTS Total Fund8 2024 Total Funds 2023 Unrestrlcted Funds Restricted Funds Salarles. Nl arKI penslon8 Professional fees Audit fees Bank charges 12,337 3,892 16,288 234 12,337 5,175 16,288 260 10.625 3,902 10,100 221 1,283 26 34,060 Total Funds 2023 Unrestricted Funds Restricted Funds Salaries, Nl and pensions Professional fees Audlt fees Bank charges 10,625 3,902 10,11X) 221 10,625 3,902 10,100 221 24,848 24,848 9. INCOME EARNED FROM OTHER ACTivrriES The charitable company has a wholly owned trading Subsidiary N.E.P. Energy Services Limited {company number 06542138), which is incorporated in England and Wales. The charltable company owns the entlre share capltal of 1 ordlnary share of £1. N,E.P. Energy Services Limited has taken advantage of the exemption from audlt under section 479A of the Companies Act 2006 relating to subsidiary companies for the period ended 31 March 2024. A summary of the trading results is shown below: 2024 2023 Turnover Interesl recelvable Cost of sales and administration costs 73,821 2,280 (73,427) 122,833 727 (98,495) Surplus for the year Taxation 2,674 25,065 Retained in subsidiary 2.674 25,065 24
NOThINGHAM ENERGY PARTNERSHIP (A company Ilmlted by guarantee and not having a share capital) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 9. INCOME EARNED FROM OTHER ACTIVITIES (¢ontlnued) The sssets and Ilabilities of the subsidiary were: 2024 2023 Fixed assets Current assets Current liabSlttle8 23,627 175,872 (7.442) 3,251 194,294 (8.162) Net assetsl(liabilities) 192,057 189,383 10. NET INCOMING RESOURCES FOR THE YEAR This Is stated after charglng: 2024 2023 Depreclatlon Auditor's remuneratlon Audlt services Accountlng services Other seNlceg 13.168 11,604 12,800 2,840 8,350 1,750 11. AUDITOR'S REMUNERATION The auditor's remuneration amounts to an audit fee of £12,800 (2023: £8.350), accountlng services of £2,840 (2023: £1,750) and other services totalling £648 (2023.. £nil}. 12. STAFF COSTS AND KEY MANAGEMENT PERSONNEL Staff ¢osts were as follow8: 2024 2023 Salarles and wages Social security costs Penslon costs Agency costs 561,530 29.949 23,110 20,995 495,127 37.236 15.59) 635.584 547.953 25
NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12.STAFF COSTS AND KEY MANAGEMENT PERSONNEL (contlnued) The number of employees whose annual remuneration was more than £60,000 is as follovts: 2024 2023 £60,000 - £69,999 The monthly average number of employees (including the during the year, vtss as fdlows: 2024 2023 Average monthly number of employeos 25 24 The tot81 employee benefrts of the key rnanagement personnel of the charity were £146,968 (2023: £107.281). None of the trustees (or any persons connected wlth them} recelved any remuneration or relmbursement of expenses from the charity during the year, 13. PENSIONS The charlty operates a defined contrlbutlon pension plan for its employees. The amount recognlsed as an expense In the period was £23,110 (2023: £15,590). 19 {2023: 22) of the above employees partlclpated in the Defined Contributions Pension Scheme. 14. INDMDUAL STATEMENT OF FINANCIAL ACTIVITY As permitted by Section 408 of the Companies Act 2006, the Statement of Flnanclal Activtty is not presented as part of these financial siatements.
NOINGHAm ENERGY PARTNERSHIP (A company limited by guarantee and not having a sharo capital) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 15. TANGIBLE FIXED ASSETS Freèhold Land & Bulldlngs Flxtures, Flttlngs & Equlpment Motor Vahlcles Gro Totsi COST At 1 April 2023 Additlons Transfer from investment property Disposals 56,980 13,490 56.980 223,775 291.713 186.440 291.713 23,845 At 31 March 2024 478 153 52,725 DEPRECIATION At 1 April 2023 Provided In year Ellminated on disposal 35,774 10,782 35,774 18,126 4,959 2,385 At 31 March 2024 2,385 NET BOOK VALUE At 31 March 2024 At 31 March 2023 21,206 21,208 Fr•ehold Land & Bulldlngs FIxtu, Flttlngs & Equlpment Com Total COST At 1 April 2023 Additions Transfer from investment property Disposals 48,482 13,490 48,482 199,930 291,713 186,440 291.713 13,582 At 31 March 2024 478 153 526,543 DEPRECIATION At 1 April 2023 Provided in year Eliminated on disposal 30,527 9,698 30.527 14,657 13,582 4,959 At 31 March 2024 NET BOOK VALUE At 31 March 2024 473,194 21,747 494,941 At 31 March 2023 17,955 17,955 27
NOThINGHAM ENERGY PARTNERSHIP (A Company limltod by guarantee and not havlng a share capltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 1& FIXED ASSET INVESTMENTS Group 2024 Company 2024 2023 2023 Shares in group undertakings Investment properties 291.713 291713 291713 291714 Investment Proport108 Investment Pro •rtle8 Total COST Al 1 Aprll 2023 Transfer to tanglble fixed assets 291,713 291 713 291,713 291713 At 31 March 2024 MARKET VALUE At 31 March 2024 HISTORICAL COST At 3q March 2024 Subsldlary Undertaklng hares In Grou Undertakln Total COST At 1 AprS12023 At 31 March 2024 MARKET VALUE At 31 March 2024 HISTORICAL COST At 31 March 2024 28
NorriNGHAM ENERGY PARTNERSHIP (A company 11m1t by guarantee and not havlng a share capltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 17. CURRENT ASSET INVESTMENTS Group 2024 Company 2024 2023 2023 Unlisted other shares 500.000 500 000 5(K),000 500,000 The Charlty purchased 50,000 subscriptlon shares at £10 each In Nottinghamshire Community Energy Limlted, Registered Soclety number RS007213. A buy back schedule at £500,000 originally planned in November 2018 did not occur. In the Interim, Nottinghamshire Communlty Energy Llmited made a loan to the Charity of £275,000 with a further108n in October 2019 of £50,000. During the financial year ending 31 March 2024, 8 further loan of £100,000 has been made. loans awarded total £425,000 and have been Included in creditors: amounts falling due after more than one year. 18. DEBTORS Group 2024 Company 2024 2023 2023 Trade debtor6 Accrued income Prepayments Other debtors Amounts ovRd by subsidlary 25,181 401,330 8,865 3,850 253,556 69,874 6,450 273 14,244 401,330 8,630 3,124 232,802 69,874 5,777 273 330 153 427 328 308,891 19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2024 Company 2024 2023 2023 Trade creditors Taxation and social security Accruals and deferred income Other creditors Amounts ovftd to subsldy 23,272 3,282 144,153 3,317 40,451 14,888 28,277 21,785 38,835 9.827 26.957 141,480 3,317 145 174,024 166,727 75.619 Analysis of deferred Income: Balance at 1 April Amount deferred in year Amount released in year 24,648 23,648 Balance at 31 March 24,648 23.648 29
NOThNGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 20. CREDITORS: AMOUNTS FALLING AFTER MORE THAN ONE YEAR Group 2024 Company 2024 2023 2023 Other loans 425 000 325 000 325 000 21. ANALYSIS OF NET ASSETS BETWEEN FUNDS UnrestrlGtod Re8trlGted Funds Funds 2024 2024 Unrestrlcled Restricted Funds Funds 2023 2023 Total 2024 Tot81 2023 Flxed assets Net current assets Long term Ilabilities 618,668 1,514,258 (425,000) 518,568 320,546 1,834,806 (425,000) 312,919 1,253,859 (325,000) 312,919 229,390 1,483,249 (325,000} Total 1607 826 320 548 1928 374 1241 778 229 390 1471 168 22. ANALYSIS OF MOVEMENTS IN FUNDS Analys16 of movements In unr88trlctod funds At Incomlng 01104123 Re8ource8 Resourcas •xpendod At 31103124 Tran8fgr8 General fund 1,241,778 1,064602 (698,554) 1,607,826 1,241,778 1,064,602 698,654 1,607 826 At 01104122 Incoming Resources Resources expended At 31103123 Transfers General fund 1,118,240 895,132 {787,024) 15,430 1.241,778 1118,240 895,132 787 024 15.430 1.241.778 General fund The free reserves of the charity. 30
NOThINGHAM ENERGY PARTNERSHIP (A company1Smited by guaranto• and not having a share capital) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 22. ANALYSIS OF MOVEMENTS IN FUNDS (contlnued) Analy$ls of movements In r88trlcted funds At 01104123 Incomlng Resources Ro8ourcoN 0xpended At 31103124 Transfor8 Covid Wlnter Grant Scheme Green Meadows Nottinghamshlre Community Energy Energy Redress Future Fit Works Let's Optimise Your Boiler 38,518 130,860 {38,518) (311,921) 339.614 168,553 29,914 16S 29,933 18,000 257,200 41,436 {28,316) {257,365) (48,090) 19,598 23,279 119118 Analysls of movemonts In re8trlctod funds At 01104122 Incomlng Resources Resources expended At 31103123 Transfers COVKI Wlnter Grant Scheme Green Meadows Nottinghamshire Communlty Energy Energy Redress Future Fit Workg 38.170 107,988 348 307,225 38,518 130,860 (282,867) (1.488) 28,073 (1,577) 9,000 92.376 30.000 (7,159) (76,690) (67) 29,914 165 29,933 {13,944) 366 783 229 390 The specffic purposes for whlch the funds are lo be applied are as follows: Covid Wlnter Grant SGh•me Fundlng provided by Nottinghamshlre County Council to alleviate fuel poverty durlng the winter months. Funding targeted to vulnerable households who are struggllng to pay their fuel bllls in the coldest months. Green Meadows National Lottery Climate Action Fund lo Inform the Meadows Communlty on Climate Chang8 issues and encourage IoGal action through community initiatives. Nottlnghamshlre Community Energy A community benefit society, whose main objects are to benefit the local community of shareholders and to benefrt the people of Nottinghamshire by distribuling funds for renewable energy and fuel poverty InitiatSves. 31
NorriNGHAM ENERGY PARTNERSHIP (A company Ilmlted by guarantee and not having a share capltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEP41ENTS YEAR ENDED 31 MARCH 2024 22. ANALYSIS OF MOVEMENTS IN FUNDS (contlnuad) Energy Redress Scheme Provides funding to charities in England, Scotland and Wales who support energy consumers in vulnerable situations. Voluntary payments received from energy companies followlng enforcement or compliance activity by Ofgem, are distributed to charitles to redress the harm caused to energy consumers. Futur8 Flt Works A fund used to Install mlnor energy efflcSent measures in the Meadovrfs area for eligible houses. Let's Optlml80 Your Boller This is a project providing home visits to optimise combi condensing bollers for fuel poor households across Nottinghamshire. 23. COMMITMENTS UNDER OPERATING LEASES Total future mlnlmum lease payments under non-cancellable operating leases are as follows: Photocoplor & 8taple fln18her Group 2024 Company 2024 2023 2023 Withln one year Between Iwo to five years In over five years 1,210 2,520 888 370 1,210 2,520 840 888 370 4,570 1,258 4,570 1,258 24. RELATED PARTY TRANSACTIONS Related paty Iransactlons In respect of N.E.P. Energy Servlces Llmlted have been disclosed in note 8 to the financial statements. P Angus and M Cumberbatch are both Directors of Nottinghamshire Community Energy Llmlted. Related party transaclions have been disclosed in note 16 to the financial statements. In addltlon, durlng the year ended 31 March 2024 grant income of £18,000 (£9,000) was received from Nottlnghamshlre Communlty Energy Llmlled, shown in note 6 to the financial statements. J Marsh is a Director of'meadows Ozone Energy serv15 Llmlted (MOZES). During the year ended 31 March 2024, income totalling £80 (2023.. £40) was Involced to MOZES in respect of Climate Hub Hire. At 31 March 2024, a balance of £nil (2023: £20) was outstsndlng and has been included in trade'debtors. Nottlngham Energy Partnershlp and MOZES are project partners in respect of the National Lottery Climate Action Fund. This project Is hosted by Nottlngham Energy Partnership. During the year ended 31 March 2024, expenditure totalling £23,398 (2023.. £19,031) has been pald to Meadows Ozone Energy Services Limited in respect of this project. 32
No1NGHAm ENERGY PARTNERSHIP (A company Ilmlted by guarantee and not having a sharè capltal) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 25. CHARITY STATUS The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 toward5 the assets of the charity in the event of liquidation. 26. TAXATION The charity Is a registered charity and is therefore exempt from tsxation. 33