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← Pure Leapfrog

2024-08-31-accounts

Company Registration Number 05534395 Charity Number 1112249

PURE LEAPFROG

COMPANY LIMITED BY GUARANTEE

ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

Contents

Contents
Members of the board and professional advisors 1
Trustees’ report 2
Purpose and activities 2
Chair’s Statement 3
CEO’s Statement 4
Achievements and Performance 5
Financial Review 5
Structure, Governance, and Management 6
The Team 6
Statement of trustees’ responsibilities 7
Independent auditor’s report 8
Charity statement of financial activities 9
Charity balance sheet 10
Notes to the financial statements 11

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

MEMBERS OF THE BOARD AND PROFESSIONAL ADVISORS

YEAR ENDED 31 AUGUST 2024

Pure Leapfrog is a UK registered charity (number 1112249) as well as a UK company limited by guarantee (number 05534395). The Trustees of the charity act as Directors for the company for the purposes of the Companies Act 2006.

As Directors of the Company and Trustees of the Charity, the Board meetings and minutes cover both roles.

Directors and Trustees of Pure Leapfrog during the 2023/24 year

The Trustees who served the charitable company during the year and since the year end were:

Mark Henderson Simon Cordery Dr Michael Jampel Shelagh Kirkland (Treasurer) Graeme Ludlow (Chair) Sophie Pughe

Senior management team

Paul Gilligan, CEO

Registered Office

82 Tanner Street, London, SE1 3GN

Auditors

Buzzacott LLP, 130 Wood Street, London, EC2V 3DL (retired 2025)

Independent Examiners

TC Ollis Limited , Nelson House, 2 Hamilton Terrace, Leamington Spa, Warwickshire. CV32 4LY

Bankers

Barclays Bank PLC, 1 Churchill Place, London, E14 5HP

1

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) YEAR ENDED 31 AUGUST 2024

Purpose and activities

The legal charitable purposes of Pure Leapfrog, as stated in the Articles of Association, are:

  1. To promote sustainable development for the benefit of the public by:

  2. The preservation, conservation and the protection of the environment and the prudent use of resources,

  3. The relief of poverty, the promotion of health and the improvement of the conditions of life in socially and economically disadvantaged communities,

  4. The promotion of sustainable means of achieving economic growth and regeneration.

  5. To advance the education of the public in subjects relating to sustainable development and the protection, enhancement and rehabilitation of the environment, and to promote study and research in such subjects provided that the useful results to such study are disseminated to the public at large.

  6. To promote for the benefit of the public the conservation, protection and improvement of the physical and natural environment.

  7. To advance the education of the public in the conservation, protection and improvement of the physical and natural environment.

2

PURE LEAPFROG A COMPANY LIMITED BY GUARANTEE

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) YEAR ENDED 31 AUGUST 2024

Chair’s Statement

The year to 31 August 2024 was marked by both challenge and renewed momentum in the national effort to address climate change, rising energy costs, and community resilience.

At a national level, as we saw a shift in government so we also saw a shift in energy policy, which began to shift more decisively. The Energy Act 2023 laid foundations for the UK’s clean energy future — advancing carbon capture, low-carbon heating, and hydrogen trials. The introduction of Great British Energy and the new National Wealth Fund signals a return to public investment in renewable generation. The ambition to democratise energy infrastructure was clear from the new administration’s manifesto pledge to “partner with energy cooperatives, local authorities and communities to expand community-owned and led renewable energy”.

Of course, this speaks very directly to the core of Pure Leapfrog, who we are and what we promote. As an early mover in the Community Energy Sector we have been promoting this for twenty years. And, for as long as energy bills remain as stubbornly high as they have been, we will continue to promote the idea that democratisation of energy is part of the solution for tackling fuel poverty.

Despite a steady drop in inflation (from record highs the year before) and it broadly hitting the government target of 2% over summer 2024, millions of households remained in fuel poverty. Our work in domestic retrofit in the Private Rental Sector (where there is higher correlation to fuel poverty) remains a core part of our programme for this reason. As impactful as ours, and others work, is in this and other adjacent domains, concerns about climate change continue to grow. During the year the planet has experienced increasingly extreme weather, and ocean impact; had warnings from eminent scientists about “permanent breaches above 1.5º”, “tipping points” and “feedback loops”; and had clear signals from the Climate Change Committee that faster, fairer action is essential.

Against this backdrop, Pure Leapfrog’s mission becomes even more urgent and relevant. We remain committed to enabling climate action that is rooted in place, led by people, and centred on equity. As national commitments strengthen, our role – supporting communities to become involved, innovating new approaches and solutions to unlock more action more quickly and by more people, and having a real impact on climate and people – becomes ever more important.

We are proud of what has been achieved this year, and we are determined to do even more in the year ahead.

Graeme Ludlow Chair

3

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) YEAR ENDED 31 AUGUST 2024

CEO’s Statement

It has been a year of change and renewal, with a number of key projects finishing and new ones starting. The team has also had some turnover, with colleagues leaving to find new challenges, and new team members joining us.

We are engaged in numerous impactful projects, from helping communities to build, own and operate their own energy assets, though to developing new business models for local energy supply from community assets. In all of this we strive for positive impacts both socially and environmentally. Some of the most potentially impactful work is around domestic retrofit, where we are focussing on properties owned by private landlords that are let to tenants. There is a significant correlation between the quality of this housing and its tenure type, and there is a greater degree of fuel poverty and other vulnerabilities for people living in poorer quality homes.

Retrofitting homes doesn’t only improve energy performance and reduce carbon footprint, but also delivers lower fuel bills, can also improve the fabric of those homes, and the health and quality of life of the occupants. Where whole streets are retrofitted, it starts to change the nature of that whole street, the relationship between people and where they live, and the relationships between the residents themselves too.

Our other work remains vitally important and I am pleased that we are busy on multiple fronts. This includes supporting grassroots communities in three different parts of the country in building their own energy projects, engaging with two Church of England Dioceses to explore how we can partner to leverage faith communities to help decarbonise the church estate, and developing new business models around local supply of energy from community assets.

We also continue to undertake meaningful work in researching new finance solutions (such as CDFI for community shares, property linked finance, a national utility for retrofit finance products) and work with communities to help them raise the finance they need for their projects. We are indebted to our valuable partners, volunteering on our Green Finance Panel, who guide and advise us in this work.

At time of writing, I reflect on how my fifth year in this post coincides with the twentieth of Pure Leapfrog. I find it astonishing how much the world has changed in just five years, let alone the fifteen preceding it.

Five years ago, there were 275 Community Energy Groups across the UK. Today, over 600; five years ago, you had to be a licenced energy supply company to aggregate flexibility, now we are developing plans for communities to do this for themselves; and five years ago, the average unit cost of electricity was 19.5 pence, now it is 27 pence.

All the more reason to keep growing and empowering the sector.

Paul Gilligan CEO

4

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) YEAR ENDED 31 AUGUST 2024

Achievements and Performance

The year ending 31[st] August 2024 has been a year of establishing new work. We have continued to build our capabilities in both the energy systems and buildings and retrofit sectors, with key new projects either underway during the year, or at time of writing.

The Community Virtual Microgrids project seeks to develop new business models for community scale asset sharing behind and in front of the meter. Assets may be generating, storage or flexibility assets.

Both Retrofit for Lets and Let Zero are projects that are developing ways to communicate the benefits of domestic retrofit to private landlords and their tenants, give advice and support for the retrofit journey and deliver services such as Retrofit Assessments and Whole House plans, as well as providing contracting platforms for work, introductions to relevant installers, and information about grants and finance available.

We have also supported a number of Community Energy Groups with their own energy projects including in Somerset, Warwickshire, Warrington and County Durham.

Efforts are underway to create a sustainable business model for the One Stop Shop service being developed within the Let Zero project, so that it might keep its doors open beyond the project’s funded period. Other sources of grant support are also being sought in order to smooth the transition.

We will also seek additional funding to continue our work on Community Virtual Microgrids, possibly to develop some of the technologies required, or run some studies or pilots with communities. Other new projects and partnerships are being constantly developed, with opportunities in Green Hydrogen, Agricultural Decarbonisation, Maritime Biofuels and more.

Financial Review

The company ended the year in a negative position (-£120,754) on slightly increased turnover to the previous year (2024: £307,674; 2023: £261,817). The majority of the net expenditure is from restricted funds (£87,841), where income to those funds had been booked in earlier years. Much of the defrayal from those funds contributing to the negative outturn, in the year to end August 2024, was in the form of grant making to other organisations. The net unrestricted expenditure was £32,913.

Income to restricted funds during the year was significantly higher than the previous (2024: £261,541; 2023: £106,211), reflecting the increased activity in grant supported projects such as Warrington Carbon Culture and Retrofit for Lets .

5

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)

YEAR ENDED 31 AUGUST 2024

Much of our activity occurs within restricted fund projects, and is funded by grant makers such as Innovate UK, Net Zero Hubs, and the Department for Net Zero and Energy Security, reflecting the nature of Pure Leapfrog as an innovation driven organisation.

At time of writing, our grant supported innovation activity is higher still, with the Innovate UK supported Let Zero project being our largest. Whilst income from these projects is restricted, a contribution to our ongoing overheads by most funders provides much needed revenues to our unrestricted funds. We expect our unrestricted funds to reflect this increased activity in the current year.

Structure, Governance, and Management

Pure Leapfrog is governed by a Memorandum and Articles of Association, constituted 11 August 2005. It is a registered charity, no. 1112249 regulated by the Charities Commission. Pure Leapfrog is a limited company, no. 05534395.

The responsibilities of the Trustees and management/staff are set out in the Board charter and delegated authorities policy. Trustees and staff are recruited through an open advertisement process. There have been no new Trustees through the year. A suite of business and human resource policies guide the activities of staff.

Charity staff pay is set based on publicly available benchmarking information and research into current terms.

Chief Executive

The Chief Executive during this reporting period was Paul Gilligan, who remains in post at time of writing and filing.

The Team

At 31[st] August 2024 Pure Leapfrog had a staff of five people. At time of writing the team is a team of twelve, with one further person joining in the coming weeks. Overall, the team benefits from over many decades’ experience in renewables, energy systems, energy efficiency, carbon, climate change, finance and legal related fields.

As projects finish, roughly half the staff will come to the end of fixed term contracts. We are actively seeking follow on funding for projects where we believe greater impact may be achieved by doing so, and also new funding for new projects. Our aim is to have impact against our charitable objectives, and, as far as possible, retain the skills and experience of a strong team.

6

PURE LEAPFROG A COMPANY LIMITED BY GUARANTEE

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

YEAR ENDED 31 AUGUST 2024

The trustees (who are also directors of Pure Leapfrog for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and 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, which give a true and fair view of the state of affairs of the chartable 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 the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

7

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER’S REPORT

YEAR ENDED 31 AUGUST 2024

We report on the accounts of the Charity for the period ended 31 August 2024 which are set out on pages 9 to 21.

Respective responsibilities of trustees and examiner

As the Charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the Act) does not apply and that an independent examination is needed.

It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act, whether particular matters have come to our attention and to examine the accounts under Section 145 of the 2011 Act.

Basis of independent examiner's report

Our examination was carried out in accordance with the general Directions given by the Charities Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts. Our report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with our examination, no matter has come to our attention:

TC Ollis Limited

Nelson House, 2 Hamilton Terrace, Leamington Spa, Warwickshire. CV32 4LY

26[th] June 2025

8

PURE LEAPFROG A COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 AUGUST 2024

Unrestricted
Funds
Restricted
Funds
Total Funds
2024
£
£
£		 Unrestricted
Funds
Restricted
Funds
Total Funds
2023
£
£
£
16,809
(244)
16,565		 74,832
25,662
100,494
29,277
261,252
290,529		 80,526
80,361
160,887
47
533
580		 248
188
436
46,133
261,541
307,674		 155,606
106,211
261,817
79,046
349,382
428,428		 191,029
90,927
281,956
79,046
349,382
428,428		 191,029
90,927
281,956
(32,913)
(87,841)
(120,754)		 (35,423)
15,284
(20,139)
3,925
(3,925)
-
15,273
(15,273)
-
(28,988)
(91,766)
(120,754)
83,783
174,392
258,175		 (20,150)
11
(20,139)
103,933
174,381
278,314

All of the above amounts relate to continuing activities.

9

PURE LEAPFROG A COMPANY LIMITED BY GUARANTEE

BALANCE SHEET

YEAR ENDED 31 AUGUST 2024

Note
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling
due within one year
14
Net current assets
Total assets less
current liabilities
Creditors: amounts falling
due after more than one year
15
Net Assets
Funds
Restricted income funds
17
Unrestricted income funds
18		 2024
£
£
32,779
101
32,880
100,973
123,157
224,130
(102,089)
122,041
154,921
(17,500)
137,421
82,626
54,795
137,421		 2024
£
£
32,779
101
32,880
100,973
123,157
224,130
(102,089)
122,041
154,921
(17,500)
137,421
82,626
54,795
137,421		 2023
£
£
34,373
101
34,474
138,496
177,252
315,748
(64,547)
251,201
285,675
(27,500)
258,175
174,392
83,783
258,175		 2023
£
£
34,373
101
34,474
138,496
177,252
315,748
(64,547)
251,201
285,675
(27,500)
258,175
174,392
83,783
258,175
32,880
122,041		 34,474
251,201
224,130 315,748
(102,089) (64,547)
154,921 285,675
(17,500) (27,500)
137,421 258,175
82,626 174,392
54,795 83,783
137,421 258,175

For the financial year ended August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.

These financial statements were approved by the board of trustees on 13th November 2024 and are signed on behalf of the board by:

Graeme Ludlow - Chair

10

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

1. Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

General information and basis of preparation

Pure Leapfrog is a private company limited by guarantee registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. 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), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006.

The financial statements are prepared under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound.

Going concern

The financial statements have been prepared on the going concern basis. The trustees have considered the business plan and forecasts for the Charity and believe that the base case should be achieved and provides a strong basis for our going concern confirmation. The Board also notes the additional value that is likely to accrue from Renewable energy assets (see note 11).

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The purpose and use of each restricted fund is set out in the notes to the financial statements.

Income recognition

All income is included in the Statement of Financial Activities (SOFA) when the group and the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

If there are conditions attached to donations then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Trading income includes consultancy fee income. No income is recognised when the charity acts as agent and purchases carbon credits for other companies. Any fee charged for the service is recognised as income.

The group receives both corporate and individual donations. These are recognised once the amount has been received or entitlement confirmed. The income and expenditure for these donations will be

11

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

classified as either restricted or unrestricted funds within the accounts dependent on the underlying conditions attached.

Expenditure recognition

Expenditure is recognised on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised when there is a legal obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities includes all costs associated with the provision of services. It can be categorised under the following headings:

Support costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management.

The analysis of these costs is included in note 7.

Governance costs

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the statutory audit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Computer equipment over 3 years Fixtures and fittings over 3 - 5 years Energy generating assets over 20 years

Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Purchase of carbon credits

The purchase of carbon credits are payments made in furtherance of the charitable objectives of the charity. The purchase of carbon credits are accounted for where the trustees have approved the purchase without condition and this intention has been conveyed to the recipient. Where a purchase

12

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

of carbon credits is required to fulfil a commitment to a donor wishing to offset carbon emissions, a liability for such a purchase is recognised in the financial statements.

Carbon credits purchased on behalf of other companies are not accounted for where the charity acts as agent for these companies.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in income and expenditure.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in income and expenditure.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

13

PURE LEAPFROG A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

Employee and retirement benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the group and the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Tax

The company is a registered charity and is recognised as such by HMRC for taxation purposes. As a result there is no liability to corporation tax on its charitable income.

2. Judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, the directors 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.

3. Donations

Individual donations
Donations under Gift Aid
Corporate donations
Carbon Offsetting Fees
Philanthropic grants		 Unrestricted
Funds
£
3,640
5,175
4,191
3,803
-
Restricted
Funds
Total
Funds
2024
Unrestricted
Funds
£
£
£
857
4,497
11,416
-
5,175
3,000
-
4,191
13,337
(1,101)
2,702
47,079

- -
Restricted
Funds
Total
Funds
2023
£
£
1,269
12,685
3,000
13,337
47,079
24,393
24,393
16,809 (244)
16,565
74,832		 25,662
100,494

4. Income from charitable activities

Consultancy and events
Other income		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2024
Unrestricted
Funds
Restricted
Funds
Total
Funds
2023
£
£
£
£
£
£
18,774
246,366
265,140
71,856
80,361
152,217
10,503
14,886
25,389
8,670
-
8,670
29,277
261,252
290,529
80,526
80,361
160,887

Of the income from charitable activities in 2024 £261,252 (2023: £80,361) was restricted income

14

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

5. Income from investments

Bank interest
Loan interest		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2024
Unrestricted
Funds
Restricted
Funds
Total
Funds
2023
£
£
£
£
£
£
47
533
580
1
182
183
-
-
-
247
6
253
47
533
580
248
188
436

6. Analysis of charitable activities

Purchase of carbon credits
Other operating costs
Grants and related projects
Support costs (note 7)
Staff Costs (note 10)
Governance costs (note 8)		 Unrestricted
Funds
£
-
Restricted
Funds
£

-
Total
2024
£
-
Unrestricted
Funds
Restricted
Funds
Total
2023
£
£
£

8,816
-
8,816
15,400
720
16,120
1,808
-
1,808
10,037
2,615
12,652
132,151
84,973
217,124
22,817
2,619
25,436
400
-		 74,292 74,692

95,000		 95,000
11,818 25,298 37,116
57,925 154,792
-		 212,717
8,903
8,903
79,046 349,382 428,428 191,029
90,927
281,956

7. Analysis of support costs

Unrestricted
Funds
Restricted
Funds
Total
2024
Unrestricted
Funds
Restricted
Funds
£
£
£
£
£
1,268
3,220
4,488
2,405
913
683
1,621
2,304
164
22
1,085
1,169
2,254
3,254
400
860
-
860
856
-
1,155
6,640
7,795
1,778
1,303
Total
2023
£
3,318
186
3,654

856
3,081
661
(39)
622
1,678
(23)
824
-
824
1,073
-
1,079
12,687
13,766
(4,504)
-
4,203
-
4,203
3,333
-		 1,655

1,073
(4,504)

3,333

15

PURE LEAPFROG A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

8. Analysis of governance costs

Unrestricted Restricted Total Unrestricted Restricted Total
Funds
Funds		 2024 Funds
Funds		 2023
£ £ £ £ £ £
Inspection / Audit fees 6,664 - 6,664 20,826 2,244 23,070
Insurance costs 2,239 - 2,239 1,991 - 1,991
Professional fees -
-		 -
-
375		 375
8,903 - 8,903 22,817 2,619 25,436
. Net (expenditure)/income for the year
This is stated after charging:
2024 2023
£ £
Depreciation 4,203 3,333
Inspector's / Auditor’s remuneration
- inspection / audit of the financial statements 6,664 23,070

9. Net (expenditure)/income for the year

10. Staff costs and emoluments

Total staff costs were as follows:

0. Staff costs and emoluments
Total staff costs were as follows:
2024 2023
£ £
Wages and salaries – charitable activities 194,191 196,346
Social security costs 14,597 17,056
Pension costs 3,929 3,722
212,717 217,124

Particulars of employees:

The average number of employees within the charity during the year, was 5 (2023 - 5).

The number of employees whose annual remuneration was £60,000 or more were;

2024 2023
Number Number
£70,001 - £80,000 1 1

Trustees’ and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration during the year (2023 - £nil).

The total compensation cost of key management personnel is £89,717 (2023 - £139,408) which includes employers' national insurance costs and pension contributions. The trustees considers key management personnel to comprise the Chief Executive Officer and Chief Operating Officer. No trustees are accruing pension benefits in the current or prior year.

During the year expenses reimbursed to trustees totalled £nil (2023 - £nil).

16

PURE LEAPFROG A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

11. Tangible fixed assets

Cost or valuation
At 1 September 2023
Additions
Disposals
At 31 August 2024
Depreciation and impairment
At 1 September 2023
Depreciation charge in the year
Disposals
At 31 August 2024
Carrying Amount
At 31 August 2024
At 31 August 2023		 Energy
Generating
Assets
£
49,999
-
-
Computer
Equipment
Total
£
£
4,978
54,977

2,609
2,609

(4,978)
(4,978)
49,999 2,609
52,608
15,626
3,333
-		 4,978
20,604
870
4,203

(4,978)
(4,978)
18,959 870
19,829
31,040 1,739
32,779
34,373 -
34,373

As noted in previous years, in 2018 the charity took in lieu of settlement of an outstanding loan, energy generating assets secured against that loan. The fair value of these, based on the net present value of the future income stream, is considered to be £113,934. The assets have not been valued to this amount, as income is not virtually certain because it is dependent on a number of variables. Under FRS102, unless the income is deemed to be virtually certain, the assets cannot be restated. However, the trustees believe that the valuation of this asset net of depreciation would result in £79,000 of unrestricted funds, which has not been included in these financial statements.

12. Fixed asset investments

Shares in subsidiary company
Shares in joint ventures		 2024
2023
£
£
1
1
100
100
101
101

In 2018 the charity invested £100 in Leapfrog Launchpad Limited, a joint venture in which it has a 33% stake. At the year end this entity was yet to commence trading.

On 30 June 2020, Pure Leapfrog Lilypad CIC was incorporated. Pure Leapfrog is the parent entity. The investment is being carried at £1.

17

PURE LEAPFROG A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

13. Debtors

3. Debtors
Trade debtors
Gift Aid recoverable
Prepayments and accrued income		 2024
2023
£
£
73,045
94,028
813
1,348
27,115
43,120
100,973
138,496

14. Creditors: Amounts falling due within one year

4. Creditors: Amounts falling due within one year
2024 2023
£ £
Other loans (note 16) 10,000 10,000
Trade creditors 7,310 529
Taxation and social security 8,542 2,792
Other creditors 76,237 51,226
102,089 64,547

15. Creditors: Amounts falling due after more than one year

Other loans (note 16)
6. Creditors – other loans
Creditors include loans which are due for repayment as follows:
Amounts repayable:
In one year or less
In more than one year but not more than two years
In more than two years but not more than five years		 2024
£
17,500		 2023
£
27,500
2024
£
10,000
10,000
7,500		 2023
£
10,000
10,000
17,500
27,500 37,500

16. Creditors – other loans

The loan originating in 2022 is a COVID-19 Bounce Back loan of £50,000 repayable over 5 years with an interest rate of 2.5%.

18

PURE LEAPFROG A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

17. Restricted income funds

2023/24
British Airways Carbon Fund
Carbon credit purchase
Warrington Community Benefit Fund
REWIRE
Mersey Biochar
Warrington Digital Retrofit
Warrington Carbon Culture
Let Zero		 Balance at
1
September
2023
£
131,303
-
43,260
-		 Income
£		 Expenditure Transfers
£
£
(94,918)
-
(43)
-
-
-
(7,259)**		 Balance
at 31
August
2024
£

35,284

814

43,793
(1,101)*

857
533

60,381
117,753

40,058

43,060		 (7,259)
-

2,105

1,658

6,231
(171)
-
-
-		 (56,285)
(3,925)
(115,648)
-
(38,400)
-
(36,829)
-
174,392 261,541 (349,382)
(3,925)		 82,626

** The negative balance relates to a claim submitted in the year with income due post year end

Balance at Income Expenditure Transfers Balance
1 at 31
September August
2022 2023
2022/23 £ £ £ £ £
British Airways Carbon Fund 131,303 -
-
-		 131,303
Carbon credit purchase - 1,274 (376) (898) -
Warrington Community Benefit Fund 43,078 182 -
-
43,260
REWIRE - -
(2,244)		 2,244 -
Mersey Biochar - 80,361 (67,470) (13,061) (171)
Decent Homes - 24,394 (20,461) (3,933) -
Leapfrog Launchpad - -
(375)		 375 -
174,381 106,211 (90,926) (15,273) 174,392

British Airways Carbon Fund

The British Airways Carbon Fund represents donations received from British Airways customers through British Airways plc, which are to be used to reduce carbon emissions through community renewable energy and energy efficiency projects in the UK and internationally.

Carbon Credit Purchases

Money received and spent on carbon credits during the year to offset the carbon footprints of individuals, businesses and travellers.

19

PURE LEAPFROG

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

Warrington Community Benefit Fund

This is a fund established to deliver environmental and social impact that was established from one time donations made by Pure Leapfrog, Warrington Borough Council, and Gridserve Ltd, during the development of two ground-mount solar farms near York and Hull, owned by Warrington Borough Council. The fund will be fully granted to worthy projects over time, with no expectation of additional funds replenishing it.

Warrington Digital Retrofit (Retrofit For Lets)

A project funded by the Department for Energy Security and Net Zero, through the North West Net Zero Hub. Retrofit for Lets is demonstrating technology driven ways to engage private landlords with domestic retrofit and investigate new approaches to finance that could support private landlords in improving their properties. A research strand to this project is being led by ACE Research (part of The Association of Decentralised Energy), developing a business case to persuade landlords of the advantages to them of improving their assets.

Warrington Carbon Culture

An Innovate UK project showing how impactful a coordinated approach to delivering Carbon Literacy training across a whole borough can be. This project is engaging Local Authority staff, Parish Council Councillors and SME staff, delivering Carbon Literacy Training and creating Alumni groups as Communities of Practice.

Let Zero

An Innovate UK project that is developing a One Stop Shop for Private Landlords and their tenants to get all the support they need to investigate domestic retrofit, assess the potential of their property, receive whole house plans, finance information, and plug into the local supply chain of installers. A digital platform underpins a tailored customer journey that takes specific account of the needs and concerns of this sector.

REWIRE

An Innovate UK funded project to develop designs for Smart Local Energy Systems.

Mersey Biochar

A BEIS funded project exploring the feasibility for a Biomass Greenhouse Gas Capture and sequestration plant, that also produces zero carbon heat and flexible dispatchable power.

Decent Homes

Funding for this project was received from Dulverton Trust. This was to develop a new business model for Local Authorities to deploy to help retrofit homes of vulnerable people to be safer and more thermally efficient.

Leapfrog Launchpad

With funding from Joseph Rowntree, to develop new business models for community energy.

Transfers in fund

Transfers are made from restricted to unrestricted funds when the charity has met its obligations under these contracts and been paid for the contract. The transfers reflect the underlying overheads consumed within these contracts not just the direct labour and direct costs associated with the project.

20

PURE LEAPFROG A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

18. Unrestricted income funds

2024/23
General Funds		 Balance at 1
September
2023
Income
Expenditure Transfers Balance
at 31
August
2024
£
£
£
£
£
83,783
46,133
(79,046)
3,925
54,795

19. Analysis of net assets between funds

2023/24
Restricted funds
General unrestricted funds

2022/23
Restricted funds
General unrestricted funds		 Investments
Tangible
fixed
assets
£
£
-
-
Net current
assets
Long
term
liabilities
£
£

82,626
-		 Total
£
82,626
47,169
101
32,779		 31,789
(17,500)
101 32,779
114,415
(17,500)		 129,795
Investments
Tangible
fixed
assets
£
£
-
-
Net current
assets
Long
term
liabilities
£
£

174,393
-		 Total
£

174,393
101
34,373		 76,808
(27,500)		 83,782
101
31,040		 251,201
(27,500)		 258,175

Company limited by guarantee

The company is limited by guarantee and there is therefore no share capital. Members' liability is limited to £1 per member. At 31 August 2024, there were 5 members.

Related party transactions

There were no related party transactions relating to trustees in 2024 or 2023.

21