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← Nottingham Energy Partnership

2025-03-31-accounts

Company Registration Number 04257637 Charity Registration Number 1091513

NOTTINGHAM ENERGY PARTNERSHIP

(A company limited by guarantee and not having a share capital)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2025

NOTTINGHAM ENERGY PARTNERSHIP

C O N T E N T S

Page
Reference and Administrative Details 2
Report of the board of trustees (including Strategic Report) 3
Report of the Independent Auditors 9
Consolidated Statement of Financial Activities (Current Year) 13
Consolidated Statement of Financial Activities (Prior Year) 14
Consolidated Statement of Financial Position 15
Consolidated Cash Flow Statement 17
Notes to the Consolidated Cash Flow Statements 18
Notes to the Consolidated Financial Statements 19 
1

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees Paul Collins
Alexander Foster
David Liversidge
Julian Marsh
Dr Robin Wilson
Secretary Philip Angus
Senior Management Team Miranda Cumberbatch – Chief Executive
Philip Angus – Assistant Director
Darren Barker – Contract and Home Improvement Manager
Registered office Queens Walk Community Centre
Queens Walk
Nottingham
NG2 2DF
Company Registration Number 04257637
Charity Registration Number 1091513
Auditors Rogers Spencer
Newstead House
Pelham Road
Nottingham
NG5 1AP
Bankers NatWest
16 South Parade
Nottingham
NG1 2JX 
2

NOTTINGHAM ENERGY PARTNERSHIP

(A company limited by guarantee and not having a share capital)

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2025

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 2025.

Structure, governance and management

Nature of governing document

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 (Charity number: 1091513). It is operated under the rules of its Memorandum and Articles of Association dated 23 July 2001. It has no share capital and the liability of each member in the event of winding-up is limited to £1.

Recruitment and appointment of trustees

Trustees are appointed, as representatives of the Local Authorities that we serve, of Higher Educational Establishments, and for professional expertise – appointed by organisations or direct approach. There is no maximum and the minimum number is three.

Senior staff pay policy

The pay of senior staff is reviewed annually. Any increase in excess of the cost of living is subject to performance review.

Relationships with related parties

NEP Energy Services Limited

The charity owns 100% of the issued share capital of NEP Energy Services Limited, company number 06542138. This company was formed as the trading subsidiary of the charity.

Objects and activities

Objects and aims

NEP’s aims are to advance the education of the public concerning energy efficiency including the alleviation of fuel poverty, and protect the environment and public health through the provision and use of energy in ways that reduce harmful emissions and in so doing create new jobs in the energy efficiency sector.

Objectives, strategies and activities

Referral systems for energy efficiency, heating measures, fuel vouchers and energy advice for vulnerable clients. Support for installing measures, sourcing grants and project managing grant aided projects.

Public Benefit

Warm, dry homes improve health. Energy efficiency reduces fuel bills, energy bills for clients and carbon dioxide emissions and renewables generate fossil fuel free energy.

The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Achievements and performance

Customer Journey Support

Customer Journey Support (CJS) for private sector homes through Government grants administered by Midlands Net Zero Hub. The main CJS service was for the Home Upgrade Grant 2 initiative across Nottinghamshire and Derbyshire in partnership with the City, County and Borough Councils, whilst subcontracting to Marches Energy Agency for delivery in Derbyshire. All measures were free to low income private sector residents.

3

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2025 (continued)

Achievements and performance (continued)

The main results of the project were:

322 solar PV installs 144 Air Source Heat Pumps 141 wet central heating 48 solid wall insulation 14 park home insulation systems

Total of 459 households received measures 840 measures (341 households received 556 measures in Nottinghamshire, 118 households received 284 measures in Derbyshire) Total value of savings £7.4m

ECO4

We have a handful of fully vetted contractors that we work with under the ECO4 and ECO4 Flex scheme. We check residents’ eligibility for free heating and insulation upgrades and send them over to contractors. For the ECO4 Flex route, we also have additional responsibilities with some Local Authorities to support in the checking of the Flex application before the Local Authority approves it for install.

57 measures in 29 households of which; 24 boiler replacement 12 Loft insulation 5 Solid Wall insulation 3 Solar PV 2 ASHP Total value of savings £275,606

Nottinghamshire Healthy Housing Service

The project supports vulnerable and disadvantaged households throughout the County, including the elderly or families with children, with the following interventions

This scheme also supports training for frontline staff on how to recognize the contributing factors for fuel poverty, enabling them to confidently refer clients for support.

In 2024/2025, we delivered training sessions to 229 staff across numerous organisations in the county. As a result, 67.5% of this year's referrals were generated by trained staff, making them our main source of referrals.

Additionally, the service provides in-person advice sessions on smart meters and ways to make homes warmer and more comfortable while reducing bills. These sessions allow people to sign up directly and give us the opportunity to meet clients face-to-face and better understand their needs. 

4

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2025 (continued)

Achievements and performance (continued)

East Midlands Affordable Warmth

EMAW is funded by National Grid for vulnerable households across their distribution network areas in the East Midlands. The aim was to raise the energy efficiency of low-income and low EPC rated homes. NEP partnered with several community organisations across the East Midlands to support a total of 3575 households , which resulted in:

Power UP Health

The Power Up Health Scheme is an NEP partnership with National Grid Electricity Distribution (NGED). The scheme aims to alleviate fuel poverty and excess winter deaths among households that rely on electrically powered medical equipment and offers clients the National Grid’s Priority Services Register for help in the event of a power cut.

We engaged with 951 residents of Nottinghamshire and signed 863 up to the Priority Services Register (90.7%).

Alongside all the other services offered to these residents there was a total value of savings of £531,524.83, which is an average of £558.91 per household.

We attended 67 Workshops, 5 Staff training and 5 Events.

Green Meadows

Through the Lottey-funded Green Meadows project, NEP and MOZES help members of the Meadows community (individuals, families and organisations) address the biggest areas of impact on household expenditure and the environment: space heating, household goods and services and action to improve their local physical environment, e.g. planting to increase biodiversity.

Approximately 1,650 learning engagements with individuals and households were reported for the year.

To help people with home improvements, the project performs home energy audits, creating bespoke plans for making homes future-fit, as well as tailored guides on how to insulate different housing archetypes.

To empower people to make home improvements, it also runs DIY workshops, e.g. on the use of sustainable building products for energy efficiency (wood-fibre internal wall insulation, lime plasters), ‘room in a roof’ techniques, underfloor insulation, airtight membranes and tapes, also introductory lessons on how to use power tools, basic joinery and plumbing.

DIY activity is supported by free access to a Tool Library and DIY Club.

To help people make their lifestyles greener through a series of workshops and activity groups that make people more self-sufficient by mending clothing, growing and foraging, composting, as well as teaching children in the three local Primary Schools how they can respond to climate change. 

5

NOTTINGHAM ENERGY PARTNERSHIP

(A company limited by guarantee and not having a share capital)

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2025 (continued)

Achievements and performance (continued)

HEAT Hub.

The Home Energy Advice Team (H.E.A.T) Hub secured additional funding for the next two years from Energy Redress following a successful completion of Phase 1 under the government-funded Local Energy Advice Demonstrator.

Phase 1 was delivered in partnership with Marches Energy Agency; NEP covered Nottinghamshire whilst MEA were contracted to cover Derbyshire.

Phase 1 which engaged a total of 1,293 residents at workshops, events and webinars where participants heard from experts and received in-person advice on how best to future-fit their homes. 317 home energy plans were completed, 107 homes have either completed or had retrofit measures pending at the end of the reporting period.

This project is designed to accelerate residents' plans to improve their home energy efficiency, with an emphasis on delivering expert, independent, in-person advice. It targets homeowners living in "hard to treat homes" i.e. typically older properties, those located in Conservation Areas, or homes with the lowest energy-efficiency ratings, AND households ranked 7-10 on the Index of Multiple Deprivation i.e. wealthier clients. Engagement activities include events, workshops and webinars alongside retrofit home surveys and personalised Future Fit Home Energy Plans that provide step-by-step guidance on retrofit measures, including specialist advice on Air Source Heat Pumps.

Community Fund

Nottinghamshire Community Energy pass surplus funding from their Langar Lane solar farm to NEP to administer small grants for charities in Nottinghamshire and the City. During the period a grant of £10k was made to Nottingham Casuals Rugby Club 30kWp PVs.

Financial review

NEP has made a loss this year partly due to underspends on accrued income from previous years within restricted projects.

Policy on reserves

NEP aims to keep 6 months of operating costs in reserve. The reserves during this period was maintained above this level

Principle risks and uncertainties

The principle risks are mainly political; the continuation of grant funding for vulnerable home owners. NEP is always in competition with other providers of project management services to Government agencies and Local Authorities, these being the main income streams to support our services to the public.

Plans for future periods

During the following year when all demonstration work is completed we will be able to sell the domestic mid terrace property in Pyatt St.

NEP is actively looking for workshop space in order to deliver workshops following on from the sale of Pyatt Street.

The HEAT Hub has secured another 2 years of funding and has the possibility of developing into a 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, for example Green Meadows . 

6

NOTTINGHAM ENERGY PARTNERSHIP

(A company limited by guarantee and not having a share capital)

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2025 (continued)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES 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 Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware: 

7

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2025 (continued)

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 year.

This report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.

Approved by the Board of Trustees and signed on its behalf

.................................................. Paul Collins - Trustee

Dated……………………………. 

8

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS of

NOTTINGHAM ENERGY PARTNERSHIP

Opinion

We have audited the financial statements of Nottingham Energy Partnership (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2025 which comprise the consolidated Statement of Financial Activities, the group and parent balance sheets, the consolidated cash flow statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial 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 basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial 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. 

9

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS of

NOTTINGHAM ENERGY PARTNERSHIP (continued)

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, 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 opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, set out within the Report of the Board of Trustees, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements 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 financial statements, the trustees are responsible for assessing the group and parent charitable 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 group or the parent 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 assurance about whether the financial statements as a whole 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 conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. 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 detecting irregularities, including fraud is detailed below. 

10

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS of

NOTTINGHAM ENERGY PARTNERSHIP (continued)

The extent to which the audit was considered capable of detecting irregularities including 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:

We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures 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, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

11

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS of

NOTTINGHAM ENERGY PARTNERSHIP (continued)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-sresponsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable 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 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.

……………………………………………………..

Date …………………..……

Melvin Bailey FCCA DChA (Senior Statutory Auditor) For and on behalf of Rogers Spencer

Chartered Certified Accountants Statutory Auditor

Newstead House Pelham Road Nottingham NG5 1AP

Rogers Spencer is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. 

12

NOTTINGHAM ENERGY PARTNERSHIP

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account)

FOR THE YEAR ENDED 31 MARCH 2025

Current Financial Year
Notes
INCOME:
Donations and legacies
4
Income from other trading activities:
Commercial trading operations
9
Sundry income
Investment Income
5
Income from charitable activities:
Grants and contracts
6
Sales and fees
TOTAL INCOME
EXPENDITURE:
Cost of raising funds:
Commercial trading operations
9
Charitable activities
Expenditure on charitable activities
7
TOTAL EXPENDITURE
Net (expenditure)/income before
transfers
10
Gross transfers between funds
22
Net movement of funds in year
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward
22		 Unrestricted
Funds
£
100
72,448
-
72,448
23,056
778,591
43,219
821,810
917,414
83,145
863,393
946,538
(29,124)
-
(29,124)
1,607,826
1,578,702		 Restricted
Funds
£
-
-
-
-
-
314,451
4,150
318,601
318,601
-
471,429
471,429
(152,828)
-
(152,828)
320,548
167,720		 Total
2025
£
100
72,448
-
72,448
23,056
1,093,042
47,369
1,140,411
1,236,015
83,145
1,334,822
1,417,967
(181,952)
-
(181,952)
1,928,374
1,746,422		 RESTATED
Total
2024
£
610
63,885
3,506		 RESTATED
Total
2024
£
610
63,885
3,506
67,391
30,185
1,742,019
21,519
1,763,538
1,861,724
73,427
1,331,091
1,404,518
457,206
-
457,206
1,471,168
1,928,374

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.

The notes on pages 19 to 33 form part of these financial statements. 

13

NOTTINGHAM ENERGY PARTNERSHIP

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating an Income and Expenditure Account)

FOR THE YEAR ENDED 31 MARCH 2025

Prior Financial Year
Notes
INCOME:
Donations and legacies
4
Income from other trading activities:
Commercial trading operations
9
Sundry income
Investment Income
5
Income from charitable activities:
Grants and contracts
6
Sales and fees
TOTAL INCOME
EXPENDITURE:
Cost of raising funds:
Commercial trading operations
9
Charitable activities
Expenditure on charitable activities
7
TOTAL EXPENDITURE
Net (expenditure)/income before transfers
10
Gross transfers between funds
22
Net movement of funds in year
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward
22		 RESTATED
Unrestricted
Funds
£
610
63,885
3,506
67,391
30,185
946,533
19,883
966,416
1,064,602
73,427
625,127
698,554
366,048
-
366,048
1,241,778
1,607,826		 RESTATED
Restricted
Funds
£
-
-
-
-
-
795,486
1,636
797,122
797,122
-
705,964
705,964
91,158
91,158
229,390
320,548		 RESTATED
Total
2024
£
610
63,885
3,506


67,391
30,185
1,742,019
21,519
1,763,538
1,861,724
73,427
1,331,091
1,404,518
457,206
-
457,206
1,471,168
1,928,374

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.

The notes on pages 19 to 33 form part of these financial statements. 

14

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

CONSOLIDATED AND PARENT COMPANY STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
15
Investments
16
Current assets
Investments
17
Debtors
18
Cash at bank and in hand
Creditors:
Amounts falling due within one
year
19
Net current assets
Total asset less current
liabilities
Creditors
Amount falling due after more
than one year
20
Net Assets
Funds:
Unrestricted funds
22
Restricted funds
22		 Group
2025
£
2024
£
499,801
518,568
-
-
499,801
518,568
500,000
500,000
230,086
439,226
1,126,022
1,069,604
1,856,108
2,008,830
(109,487)
(174,024)
1,746,621
1,834,806
2,246,422
2,353,374
(500,000)
(425,000)
1,746,422
1,928,374
1,578,702
1,607,826
167,720
320,548
1,746,422
1,928,374		 Company
2025
£
2024
£
482,026
494,941
1
1
482,027
494,942
500,000
500,000
224,806
427,328
953,248
905,775
1,678,054
1,833,103
(105,103)
(166,727)
1,572,951
1,666,376
2,054,978
2,161,318
(500,000)
(425,000)
1,554,978
1,736,318
1,387,258
1,415,770
167,720
320,548
1,554,978
1,736,318		 Company
2025
£
2024
£
482,026
494,941
1
1
482,027
494,942
500,000
500,000
224,806
427,328
953,248
905,775
1,678,054
1,833,103
(105,103)
(166,727)
1,572,951
1,666,376
2,054,978
2,161,318
(500,000)
(425,000)
1,554,978
1,736,318
1,387,258
1,415,770
167,720
320,548
1,554,978
1,736,318
494,942
500,000
427,328
905,775
1,833,103
(166,727)
1,666,376
2,161,318
(425,000)
1,736,318
1,415,770
320,548
1,736,318

The notes of pages 19 to 33 form part of these financial statements. 

15

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

CONSOLIDATED AND PARENT COMPANY STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2025 (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 accordance with the provisions of the Companies Act 2006, a separate statement of financial activities dealing with the results of the parent charitable company only has not been presented. Gross income of the charitable company of £1,161,240 (2024: £1,792,053) and net expenditure of £181,340 (2024: Income £454,532) has been dealt with in the accounts of the charitable company.

These financial statements were approved by the directors on ………………………………and signed on their behalf by:

…………………………………

Paul Collins - Trustee

The notes of pages 19 to 33 form part of these financial statements. 

16

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
1
Cash flows from investing activities
Interest income/(expenditure)
Purchase of tangible fixed assets
Cash used in investing activities
Increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 April 2024
2
Total cash and cash equivalents at 31 March 2025
2		 2025
£
40,392
23,056
(7,030)
16,026
56,418
1,069,604
1,126,022		 2024
£
526,482
30,185
(223,775)
(193,590)
332,892
736,712
1,069,604

The notes of pages 19 to 33 form part of these financial statements. 

17

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

1. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FROM OPERATING ACTIVITIES

Net income/(expenditure) for the year before interest
received and paid
Depreciation charges
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash inflow from operating activities
CASH AND CASH EQUIVALENTS
Year ended 31 March 2025
Cash and cash equivalents
Year ended 31 March 2024
Cash and cash equivalents		 2025
£
(205,008)
25,797
209,140
10,463
40,392
31 March
2025
£
1,126,022
1,126,022
31 March
2024
£
1,069,604
1,069,604		 2024
£
427,021
18,126
(109,073)
190,408
526,482
31 March
2024
£
1,069,604
1,069,604
31 March
2023
£
736,712
736,712

2. CASH AND CASH EQUIVALENTS

The notes of pages 19 to 33 form part of these financial statements. 

18

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Nottingham Energy Partnership is a private company, limited by guarantee registered in England and Wales. The Company's registered number and registered office address can be found in the Statutory Information on page 2.

2. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued in October 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

Basis of preparation

Nottingham Energy Partnership meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

Basis of Consolidation

The financial statements consolidate the results of the charitable company and its wholly owned subsidiary N.E.P. Energy Services Limited on a line by line basis.

N.E.P. Energy Services Limited has taken advantage of the exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies for the period ended 31 March 2023.

The registered office of the subsidiary company is the same as Nottingham Energy Partnership.

Going concern

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 uncertainties related to events or conditions which may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Income

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. 

19

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES (CONTINUED)

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Resources expended

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable that settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure 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 with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises of those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Government grants

Government grants are recognised based on the accrual model and are measured at fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible Fixed assets

Individual fixed assets costing over £500 are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Freehold land and buildings 2% straight line Furniture and equipment 25% straight line Computer equipment 33% straight line Motor vehicles 20% straight line

20

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES (CONTINUED)

Fixed asset investments

Fixed asset investments, other than programme related investments, 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 gains and losses represent the movement in market value during the year and are credited or charged to the Statement of Financial Activities based on the market value at the yearend.

Current asset investments

Current asset investments are included at the lower of cost and net realisable value / market value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash in hand and on call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objects of the charity.

Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Pension costs charges in the Statement of Financial Activities represent the contributions payable by the charity during the year.

21

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

3. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the application 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 assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4. INCOME FROM DONATIONS AND LEGACIES

RESTATED
Total Total
Unrestricted Restricted Funds Funds
Funds Funds 2025 2024
£ £ £ £
Donations and legacies:
Donations from companies,
Trusts and similar proceeds 100 - 100 610
100 - 100 610
RESTATED
RESTATED RESTATED Total
Unrestricted Restricted Funds
Funds Funds 2024
£ £ £
Donations and legacies:
Donations from companies,
Trusts and similar proceeds 610 - 610
610 - 610
5. INVESTMENT INCOME
Total Total
Unrestricted Restricted Funds Funds
Funds Funds 2025 2024
£ £ £ £
Interest receivable on bank deposits 15,816 - 15,816 9,830
Income from current asset
investments 3,000 - 3,000 13,750
Income from rental property 4,240 - 4,240 6,605
23,056 - 23,056 30,185

5. INVESTMENT INCOME

22

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. INVESTMENT INCOME (continued)

VESTMENT INCOME (continued)
Interest receivable on bank deposits
Income from current asset
investments
Income from investment property		 Unrestricted
Funds
£
9,830
13,750
6,605
30,185		 Restricted
Funds
£
-
-
-
-		 Total
Funds
2024
£
9,830
13,750
6,605
30,185

6. INCOME FROM GRANTS AND CONTRACTS

Cadent Foundation
Energy Redress
Foundations Independent Grant
Independence at Home
National Grid Electricity Distribution
National Lottery Community Fund
Nottingham City Council
Nottinghamshire Community Energy
Nottinghamshire County Council
University of Nottingham
Others
Cadent Foundation
Energy Redress
Foundations Independent Grant
Independence at Home
National Grid Electricity Distribution
National Lottery Community Fund
Nottingham City Council
Nottinghamshire Community Energy
Nottinghamshire County Council
University of Nottingham
Others		 Unrestricted
Funds
£
-
-
2,500
-
239,611
-
433,089
-
103,391
-
-
778,591
RESTATED
Unrestricted
Funds
£
-
-
2,500
2,500
242,856
-
622,075
-
20,000
53,190
3,412
946,533		 Restricted
Funds
£
30,000
-
-
-
-
271,014
3,437
10,000
-
-
-
314,451		 Total
Funds
2025
£
30,000
-
2.500
-
239.611
271,014
436,526
10,000
103,391
-
-
1,093,042		 RESTATED
Total
Funds
2024
£
40,000
257,000
2,500
2,500
242,856
339,614
622,075
18,000
160,872
53,190
3,412
1,742,019
RESTATED
Restricted
Funds
£
40,000
257,000
-
-
-
339,614
-
18,000
140,872
-
-
795,486		 RESTATED
Total
Funds
2024
£
40,000
257,000
2,500
2,500
242,856
339,614
622,075
18,000
160,872
53,190
3,412
1,742,019		 
23

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Direct expenses
Salaries, NI and pensions
Premises costs
Professional fees
Depreciation
Administration
Governance costs (note 8)
Overhead reallocation
Direct expenses
Salaries, NI and pensions
Premises costs
Professional fees
Depreciation
Administration
Governance costs (note 8)
Overhead reallocation		 Unrestricted
Funds
£
327,734
405,671
6,119
16,191
19,945
88,721
29,021
(30,009)
863,393
Unrestricted
Funds
£
296,956
215,404
2,157
22,225
14,657
49,191
32,751
(8,214)
625,127		 Restricted
Funds
£
150,189
217,576
14,323
544
-
58,711
77
30,009
471,429
Restricted
Funds
£
194,648
388,858
22,720
27,306
-
62,909
1,309
8,214
705,964		 Total
Funds
2025
£
477,923
623,247
20,442
16,735
19,945
147,432
29,098
-
1,334,822
Total
Funds
2024
£
491,604
604,262
24,877
49,531
14,657
112,100
34,060
-
1,331,091		 Total
Funds
2024
£
491,604
604,262
24,877
49,531
14,657
112,100
34,060
-
1,331,091

Support costs have not been separately allocated and disclosed as the Trustees believe they are Immaterial to the financial statements. 

24

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. ANALYSIS OF GOVERNANCE COSTS

Salaries, NI and pensions
Professional fees
Audit fees
Bank charges
Salaries, NI and pensions
Professional fees
Audit fees
Bank charges		 Unrestricted
Funds
£
13,208
3,919
11,628
266
29,021
Unrestricted
Funds
£
12,337
3,892
16,288
234
32,751		 Restricted
Funds
£
-
-
-
77
77
Restricted
Funds
£
-
1,283
-
26
1,309		 Total
Funds
2025
£
13,208
3,919
11,628
343
29,098
Total
Funds
2024
£
12,337
5,175
16,288
260
34,060		 Total
Funds
2024
£
12,337
5,175
16,288
260
34,060

9. INCOME EARNED FROM OTHER ACTIVITIES

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 charitable company owns the entire share capital of 1 ordinary share of £1.

N.E.P. Energy Services Limited has taken advantage of the exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies for the period ended 31 March 2025.

A summary of the trading results is shown below:

Turnover
Interest receivable
Cost of sales and administration costs
Surplus / (Deficit) for the year
Taxation
Retained in subsidiary		 2025
£
80,206
2,327
(83,145)
(612)
-
(612)		 2024
£
73,821
2,280
(73,427)
2,674
-
2,674 
25

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. INCOME EARNED FROM OTHER ACTIVITIES (continued)

The assets and liabilities of the subsidiary were:

Fixed assets
Current assets
Current liabilities
Net assets/(liabilities)		 2025
£
17,775
178,452
(4,782)
191,445		 2024
£
23,627
175,872
(7,442)
192,057

10. NET INCOMING RESOURCES FOR THE YEAR

This is stated after charging:

2025 2024
£ £
Depreciation 25,797 18,125
Auditor’s remuneration
- Audit services 9,384 12,800
- Accounting services 1,920 2,840
- Other services 324 648

11. AUDITOR’S REMUNERATION

The auditor’s remuneration amounts to an audit fee of £9,384 (2024: £12,800), accounting services of £1,920 (2024: £2,840) and other services totalling £324 (2024: £648).

12. STAFF COSTS AND KEY MANAGEMENT PERSONNEL

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs
Agency costs		 2025
£
573,414
45,199
20,546
13,190
652,349		 2024
£
561,530
29,949
23,110
20,995
635,584 
26

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12.STAFF COSTS AND KEY MANAGEMENT PERSONNEL (continued)

The number of employees whose annual remuneration was more than £60,000 is as follows:

2025 2024
£60,000 - £69,999 1 1

The monthly average number of employees (including the during the year, was as follows:

Average monthly number of employees 2025
£
26		 2024
£
25

The total employee benefits of the key management personnel of the charity were £153,407 (2024: £146,968).

None of the trustees (or any persons connected with them) received any remuneration or reimbursement of expenses from the charity during the year.

13. PENSIONS

The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £20,546 (2024: £23,110). 29 (2024: 28) of the above employees participated in the Defined Contributions Pension Scheme.

14. INDIVIDUAL STATEMENT OF FINANCIAL ACTIVITY

As permitted by Section 408 of the Companies Act 2006, the Statement of Financial Activity is not presented as part of these financial statements. 

27

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. TANGIBLE FIXED ASSETS


 Group
COST
At 1 April 2024
Additions
Disposals
At 31 March 2025
DEPRECIATION
At 1 April 2024
Provided in year
Eliminated on disposal
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
Company
COST
At 1 April 2024
Additions
Disposals
At 31 March 2025
DEPRECIATION
At 1 April 2024
Provided in year
Eliminated on disposal
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Freehold
Land &
Buildings
£
478,153
-
-
478,153
4,959
8,129
-
13,088
465,065
473,194		 Motor
Vehicles
£
23,845
-
-
23,845
2,385
4,769
-
7,154
16,691
21,460
Freehold
Land &
Buildings
£
478,153
-
-
478,153
4,959
8,129
-
13,088
465,065
473,194		 Fixtures,
Fittings &
Equipment
£
52,725
7,030
-
59,755
28,811
12,899
-
41,710
18,045
23,914
Fixtures,
Fittings &
Equipment
£
48,390
7,030
-
55,420
26,643
11,816
-
38,459
16,961
21,747		 Total
£
554,723
7,030
-
561,753
36,155
25,797
-
61,952
499,801
518,568
Total
£
526,543
7,030
-
533,573
31,602
19,945
-
51,547
482,026
494,941		 
28

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

16. FIXED ASSET INVESTMENTS

Shares in group undertakings
Shares in Group Undertakings
COST
At 1 April 2024
At 31 March 2025
MARKET VALUE
At 31 March 2025
HISTORICAL COST
At 31 March 2025		 Group
2025
2024
£
£
-
-
-
-		 Company
2025
2024
£
£
1
1
1
1
Subsidiary
Undertaking
£
Total
£
1
1
1
1
1
1
1
1		 Company
2025
2024
£
£
1
1
1
1
Subsidiary
Undertaking
£
Total
£
1
1
1
1
1
1
1
1
1
1
1

17. CURRENT ASSET INVESTMENTS

Unlisted other shares Group
2025
£
500,000
500,000		 2024
£
500,000
500,000		 Company
2025
2024
£
£
500,000
500,000
500,000
500,000

The Charity purchased 50,000 subscription shares at £10 each in Nottinghamshire Community Energy Limited, Registered Society number RS007213. A buy back schedule at £500,000 originally planned in November 2018 did not occur. In the interim, Nottinghamshire Community Energy Limited made a loan to the Charity of £275,000 with a further loans of £50,000 in October 2019 and £100,000 in November 2023. During the financial year ending 31 March 2025, a further loan of £75,000 has been made. The loans awarded total £500,000 and have been included in creditors: amounts falling due after more than one year. 

29

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

18. DEBTORS

Trade debtors
Accrued income
Prepayments
Other debtors		 Group
2025
2024
£
£
107,646
25,181
99,969
401,330
22,471
8,865
-
3,850
230,086
439,226		 Company
2025
2024
£
£
103,859
14,244
99,969
401,330
20,978
8,630
-
3,124
224,806
427,328

19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Taxation and social security
Accruals and deferred income
Other creditors
Amounts owed to subsidy
Analysis of deferred income:
Balance at 1 April
Amount deferred in year
Amount released in year
Balance at 31 March		 Group
2025
2024
£
£
33,804
23,272
14,916
3,282
56,421
144,153
4,346
3,317
-
-
109,487
174,024
24,648
-
30,790
24,648
(24,648)
-
30,790
24,648		 Company
2025
2024
£
£
32,600
21,785
12,772
-
54,987
141,480
4,346
3,317
398
145
105,103
166,727
24,648
-
30,790
24,648
(24,648)
-
30,790
24,648		 Company
2025
2024
£
£
32,600
21,785
12,772
-
54,987
141,480
4,346
3,317
398
145
105,103
166,727
24,648
-
30,790
24,648
(24,648)
-
30,790
24,648
166,727
-
24,648
-
24,648

20. CREDITORS: AMOUNTS FALLING AFTER MORE THAN ONE YEAR

Other loans Group
2025
2024
£
£
500,000
425,000		 Company
2025
2024
£
£
500,000
425,000		 
30

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Net current assets
Long term liabilities
Total		 Unrestricted
Funds
2025
Restricted
Funds
2025
Total
2025
Unrestricted
Funds
2024
Restricted
Funds
2024
Total
2024
£
£
£
£
£
£
499,801
-
499,801
518,568
-
518,568
1,578,901
167,720
1,746,621
1,514,258
320,548
1,834,806
(500,000)
-
(500,000)
(425,000)
-
(425,000)
1,578,702
167,720
1,746,422
1,607,826
320,548
1,928,374

22. ANALYSIS OF MOVEMENTS IN FUNDS

Analysis of movements in unrestricted funds

General fund
General fund		 At
01/04/24
£
1,607,826
1,607,826
At
01/04/23
£
1,241,778
1,241,778		 Incoming
Resources
£
917,414
917,414
Incoming
Resources
£
1,064,602
1,064,602		 Resources
expended
£
(946,538)
(946,538)
Resources
expended
£
(698,554)
(698,554)		 Transfers
£
-
-
Transfers
£
-
-		 At
31/03/25
£
1,578,702
1,578,702
At
31/03/24
£
1,607,826
1,607,826

General fund

The free reserves of the charity.

Analysis of movements in restricted funds

Green Meadows
Nottinghamshire
Community Energy
Future Fit Works
Let’s Optimise Your
Boiler		 At
01/04/24
£
158,553
19,598
23,279
119,118
320,548		 Incoming
Resources
£
274,451
12,500
31,650
-
318,601		 Resources
expended
£
(373,206)
(7,134)
(54,929)
(36,160)
(471,429)		 Transfers
£
-
-
-
-
-		 At
31/03/25
£
59,798
24,964
-
82,958
167,720		 
31

NOTTINGHAM ENERGY PARTNERSHIP (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

22. ANALYSIS OF MOVEMENTS IN FUNDS (continued)

Analysis of movements in
Covid Winter Grant
Scheme
Green Meadows
Nottinghamshire
Community Energy
Energy Redress
Future Fit Works
Let’s Optimise Your
Boiler		 restricted funds
At
01/04/23
Incoming
Resources
£
£
38,518
-
130,860
339,614
29,914
18,000
165
257,200
29,933
41,436
-
140,872
229,390
797,122		 Resources
expended
£
(38,518)
(311,921)
(28,316)
(257,365)
(48,090)
(21,754)
(705,964)		 Transfers
£
-
-
-
-
-
-
-		 At
31/03/24
£
-
158,553
19,598
-
23,279
119,118
320,548

The specific purposes for which the funds are to be applied are as follows:

Covid Winter Grant Scheme

Funding provided by Nottinghamshire County Council to alleviate fuel poverty during the winter months. Funding targeted to vulnerable households who are struggling to pay their fuel bills in the coldest months.

Green Meadows

National Lottery Climate Action Fund to inform the Meadows Community on Climate Change issues and encourage local action through community initiatives.

Nottinghamshire Community Energy

A community benefit society, whose main objects are to benefit the local community of shareholders and to benefit the people of Nottinghamshire by distributing funds for renewable energy and fuel poverty initiatives.

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 following enforcement or compliance activity by Ofgem, are distributed to charities to redress the harm caused to energy consumers.

Future Fit Works

A fund used to install minor energy efficient measures in the Meadows area for eligible houses.

Let’s Optimise Your Boiler

This is a project providing home visits to optimise combi condensing boilers for fuel poor households across Nottinghamshire. 

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NOTTINGHAM ENERGY PARTNERSHIP

(A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

23. COMMITMENTS UNDER OPERATING LEASES

Total future minimum lease payments under non-cancellable operating leases are as follows:

Photocopier & staple finisher

Within one year
Between two to five years
In over five years		 Group
2025
2024
£
£
1,008
1,210
3,024
2,520
-
840
4,032
4,570		 Company
2025
2024
£
£
1,008
1,210
3,024
2,520
-
840
4,032
4,570

.

24. RELATED PARTY TRANSACTIONS

Related party transactions in respect of N.E.P. Energy Services Limited have been disclosed in note 9 to the financial statements.

P Angus and M Cumberbatch are both Directors of Nottinghamshire Community Energy Limited. Related party transactions have been disclosed in note 17 to the financial statements.

In addition, during the year ended 31 March 2025 grant income of £10,000 (2024: £18,000) was received and shown in note 6 to the financial statements. Furthermore, during the year ended 31 March 2025 management services income of £2,500 (2024: £nil) was received from Nottinghamshire Community Energy Limited.

At 31 March 2025, a balance of £5,000 (2024: £nil) was outstanding and has been included in trade debtors.

J Marsh is a Director of Meadows Ozone Energy Services Limited (MOZES). During the year ended 31 March 2025, income totalling £40 (2024: £80) was invoiced to MOZES in respect of Climate Hub Hire. At 31 March 2025, a balance of £nil (2024: £nil) was outstanding from MOZES.

Nottingham Energy Partnership and MOZES are project partners in respect of the National Lottery Climate Action Fund. This project is hosted by Nottingham Energy Partnership. During the year ended 31 March 2025, expenditure totalling £22,982 (2024: £23,398) has been paid to Meadows Ozone Energy Services Limited in respect of this project.

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 towards the assets of the charity in the event of liquidation.

26. TAXATION

The charity is a registered charity and is therefore exempt from taxation.

27. PRIOR YEAR RESTATEMENT

The prior year restatement relates to grants and contracts income that has been reclassified from donations and legacies to charities activities income. 

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