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2022-03-31-accounts

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TRANSFORMING LIVES THROUGH CLEAN ENERGY
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Annual Report and Accounts 2021-22

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Worldwide, 1.3 billion people
are multidimensionally poor
CONTENTS
– nearly 85 per cent live in
Sub-Saharan Africa or South Asia.
(UNDP, 2021)
Welcome 04
759 million people lack
Our Approach and Headline Impact 06
access to electricity, mostly
in Africa and Asia …
2.6 billion people are without Energy for Livelihoods 08
access to clean cooking
(Tracking SDG7: The Energy Progress Report, 2021) Energy for Climate Change 11
Accelerated and equitable Energy for Health and Education 14
climate action in mitigating and
adapting to climate change
Energy for Catalytic Change 17
impacts is critical to sustainable
development
(Intergovernmental Panel for Climate Change Our Projects 19
(IPPC) Working Group III Report, 2022)
Our Funders and Delivery Partners 20
Trustees’ Report 22
Administration Details 24
Lisa O’Doherty
Director
of Global Financial Review 25
Programmes
UK
Auditor’s Report 30
Accounting Policies 34
Thakur Thapa
Acting Country
Director Financial Activities 37
Nepal
Notes to the Accounts 40
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Meet our Leadership Team

Janaki Jayasuriya Lisa O’Doherty Director of Director Phil Brown Finance & of Global CEO Operations Programmes UK UK UK Matt Whitehead Director of Benson Maroro Thakur Thapa Fundraising & Technical Acting Country Communications Manager Director UK Kenya Nepal

Sanjib Baburam Kumar Lal Paudel Technical & Global Procurement Technical Manager Manager Nepal Nepal

Sarika Amatya Director of Finance & Operations Nepal

Company number 06005778 and Charity number 1119467

Message from the Chair

Message from the CEO

he last two years have been a challenging time for Renewable World. As with so many organisations the pandemic has impacted us across the board, from project delivery T through to fundraising and operational management. However, thanks to the hard work of our teams in Nepal, Kenya and the UK and the support of our donors, we have not only been able to continue to support families and communities through access to clean energy but have built the foundations for our future strategy and growth.

I would like to extend my personal thanks to our outgoing chair, Neil Pinto. Neil has guided the charity through this challenging period and is handing over the organisation in a position of stability and strength. A period during which we have almost doubled our annual income to £3.4 million, our programme in

“

Thanks to the hard work of our teams in Nepal, Kenya and the UK and the support of our donors, we have not only been able to continue to support families and communities through access to clean energy but have built the foundations for our future strategy and growth.

Nepal has continued to grow and we are now on the threshold of re-launching our work in East Africa with a new programme in Kenya.

I am also pleased to introduce our new CEO, Phil Brown. Phil joined Renewable World in October 2021 and brings a wealth of experience, expertise and enthusiasm to add to the deep well of knowledge and commitment already within the organisation.

I joined Renewable World as a trustee in 2017 having worked for over 30 years in the engineering and delivery of commercial and utility scale onshore and offshore wind farms, including roles as Engineering and Construction Director at RES Ltd and as CEO of RES Offshore. I wanted to use that experience to support Renewable World and I’ve been impressed and excited by the innovative projects developed and delivered by our teams and I’ve seen first-hand in Kenya how we’ve helped to transform lives.

I’m delighted to be taking on the role of chair of trustees and I’m looking forward to working with the board to support our fantastic team as they launch our new 2022-2025 strategy later this year, through which we aim to go from strength to strength, building on our experience as renewable energy experts, as innovators, as multi-stakeholder and community mobilisers, and in designing and implementing adaptive and impactful programmes that will make a real and lasting difference.

Chris Morgan, Chair

I

t’s a privilege to have joined Renewable World in October 2021. I’ve joined an outstanding charity, with an incredible mission, in strong financial health, and highly committed and capable staff and partners.

“

Our work over the last year has been life-changing. With clean, reliable and affordable energy, communities can now access water; light and power their homes, schools and health clinics; irrigate crops; and develop new businesses.

Helping people transform their lives and tackle climate change through clean energy has never been more urgent. Much progress against the Sustainable Development Goals (SDGs) has been lost. And the lives of the world’s poorest people have been upended and made more vulnerable by the COVID-19 pandemic, climate-induced natural disasters, and now the war in Ukraine, with its implications for the global economy, food and energy prices.

But while the external environment is challenging, I’m optimistic about what can be achieved when people come together around a shared mission and the power of innovation.

All this has been achieved during the most challenging of times for the people we are supporting and Renewable World itself, as the pandemic impacted on our delivery and fundraising. Despite this, we’ve still made good progress on project implementation, including closing three projects and starting up three more, and our income has grown considerably. We are hugely grateful to all our funders and partners for making this possible.

Our work over the last year has been life-changing. With clean, reliable and affordable energy, communities can now access water; light and power their homes, schools and health clinics; irrigate crops; and develop new businesses. By providing access to clean cooking, we’ve helped reduce air pollution and people’s vulnerability to disease. And we’ve supported communities to increase their resilience to climate change, through solar-powered early warning systems, training in climate-smart agriculture, and projects to protect and improve livelihoods and fragile ecosystems.

We are a small part of the solution. But our impact has been life-changing for those we have reached, and we are just getting going. Together we can achieve amazing things to transform the lives of the poorest and tackle climate change through clean energy.

Phil Brown, CEO

04 Welcome

Welcome 05

TRANSFORMING LIVES THROUGH CLEAN ENERGY

s clean energy experts, we work with partners to deliver transformative change by improving people’s access to clean energy A and empowering them through training, knowledge sharing and making connections.

SDG Goal #1 End poverty in all its forms everywhere

SDG Goal #5 Achieve gender equality and empower all women and girls

Our vision is for “A sustainable and fairer world where clean energy is accessible to all”.

Every day we are working hard to deliver our mission “To enable the world’s poorest people to transform their lives by improving their access to clean energy, empowering them to develop sustainable and resilient livelihoods, and mitigating the impact of climate change”.

SDG Goal #7

Ensure access to affordable, reliable, sustainable and modern energy for all

We have already improved the lives of nearly 73,000 people, and we are on track to surpass our goal of reaching 100,000 people by the end of 2022. We are ambitious about scaling our impact to 2030 and beyond.

SDG Goal #13 Take urgent action to combat climate change and its impacts

We are delivering impact against five United Nations Sustainable Development Goals (SDGs), with SDG7 (access to affordable, reliable, sustainable and modern energy) as a primary goal and an enabler of others:

SDG Goal #16 Promote just, peaceful and inclusive societies

Our focus areas

We focus on four key areas where we believe we can achieve the greatest impact in transforming lives through clean energy:

ENERGY FOR LIVELIHOODS: Improving incomes and welfare by using energy for productive purposes, with a focus on reaching the poorest and empowering women and the socially excluded.

ENERGY FOR CLIMATE CHANGE: Helping people adapt to climate change and protect ecosystems through energy-enabled climate-smart agriculture and early warning systems, and mitigating climate change through clean energy and carbon offsetting.

ENERGY FOR HEALTH AND EDUCATION: Using renewable energy to supply clean water for drinking, health and sanitation, electrifying remote health centres and schools to improve health and education outcomes, and enabling cleaner cooking.

ENERGY FOR CATALYTIC IMPACT: Creating catalytic change through the productive use of energy, sustainable multi-stakeholder partnerships, and piloting scalable innovations.

OUR IMPACT

72,871 people reached since 2008

33,510 people reached since 2018

22,807 people reached in 2021-22

713 tonnes of carbon avoided through RW’s programme

£3.4 million income raised

£

£2.9 million spent on our work

92p in every £1 spent on our charitable activities

9 active projects in 2 countries

06 Our approach

Our approach 07

ENERGY FOR LIVELIHOODS

Improving incomes and welfare by using energy for productive purposes, with a focus on reaching the poorest and empowering women and the socially excluded

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OUR IMPACT
2021/2022
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nergy is at the heart of development, yet the world’s poorest people have the least access to energy, and without energy they lack the means to lift themselves out of poverty.

E

By providing access to clean, reliable and affordable energy and know-how, our projects in Nepal and Kenya enable people to innovate, set up new and improve existing businesses, and access markets. This means they can transform their lives through increased incomes, job creation and financial resilience.

619 people with improved access to energy

5,615 people with improved access to water

Improving access to energy has a direct and profound impact on improving the lives of women who in most parts of the world, including Kenya and Nepal, spend more time than men cooking, and collecting water and fuel. Through our energy, water and improved cookstove projects, we are reducing the burden of women’s essential but unpaid labour and enabling them to enhance their livelihoods through access to education and income generation.

725 new tap stands fitted

7 hours per week saved per household not fetching firewood

Through applying our community-centred approach, we also seek to influence institutional and societal norms that can lock some people in poverty; for example, we involve women and marginalised groups in project design and governance, and we carefully direct our projects towards those most in need.

CASE STUDY

Creating new businesses using solar power in Kenya

Renewable World has been increasing access to clean energy for fishing communities in Lake Victoria, Kenya since 2013. Our programme has delivered solar powered micro-grids in ten communities and piloted solar powered ice making equipment in an island community, reaching more than 10,000 people with clean energy access.

“

There are many new businesses that weren’t previously on the island, including hotels, Mpesa kiosks and barbers. It’s good that the community can access these services locally.

344 energy connections created from solar microgrids in Kenya

Lilian struggled for years to make a living in Kiwa Island but after Renewable World installed a solar microgrid, she was able to start a small café serving food to local fishermen. Her café is doing well and generating income of approximately 2,000 shillings (£15) a day. This helps support her family, pay for her children’s education and employ another woman in the café.

Renewable World concluded its Energy Hubs Programme in Lake Victoria in 2021/22. This process included final programme evaluation and the transfer of the project assets to local communities, including Kiwa Island.

Renewable World has implemented several solar water pumping projects focused on improving livelihoods and resilience in Nepal including current projects, UREKA and REALIZE, and one that concluded in 2021, SolarMUS III. The projects serve remote, rural communities in Karnali and Sudurpashchim provinces. These are the poorest of Nepal’s seven provinces, in which 40% and 25% of people respectively are living in poverty, simultaneously facing deprivations in health, education and living standards.

Our solar water pumping projects typically combine access to energy and water, with support to help people through the productive use of energy (see Catalytic Change). This includes agricultural training and inputs, access to micro-finance, processing and storage equipment, and connecting communities to market. By adopting a holistic systems-based approach, our impact has been transformational.

Our ongoing Using Renewable Energy to Kickstart Agriculture in Achham (UREKA) project will be supporting families in four farming communities in Achham district. We will install solar-powered water pumping systems and enable communities to increase their productivity and incomes though increased crop yields and renewable energy powered agroprocessing services. Critically, this project will facilitate market linkages, through supporting cooperatives to better serve local farmers and access customers.

08 Energy for livelihoods

Energy for livelihoods 09

SolarMUS III - solar water pumps transforming incomes and lives in rural Nepal

IMPACT SUMMARY

Over 83 million litres of water pumped per year

SolarMUS III, completed and handed over in 2021

CASE STUDY

“ Now I am financially independent I can pay the water bill from the money earned through agriculture. I also am thinking of investing the money earned from agriculture in animal husbandry.

Our latest innovation project, Enriching Agriculture in Nepal using Bag Digesters (ENRICH), is testing portable biogas digesters for both biogas and organic fertiliser production, with 9 new installations completed in 2021/22. Livestock farmers, dairy cooperatives and entrepreneurs are establishing biogas plants – using agricultural waste to generate clean gas for cooking and selling it on as a cheaper alternative to liquefied petroleum gas. Nothing is wasted. Bio-slurry from the digesters is rich in nutrients which improve the health of the soil, and entrepreneurs are converting this into organic fertiliser to sell at market. Wider project activities have supported the formation of 24 farmers’ groups, providing training in nursery management, integrated pest management and commercial vegetable production. ENRICH is also establishing an international supply chain for the project’s technology, by working with international and national private sector counterparts, to make the technology more widely available in future.

Nanda is from Dhanigrad community, Nepal. Before the new solar-powered water pumping system was installed, she used to wake at 4am to fetch water. Now, she spends most of her time growing and selling beans, tomatoes, bitter gourd, cucumbers, and pumpkin from her smallholding.

ENERGY FOR CLIMATE CHANGE

Helping people adapt to climate change and protect ecosystems through energy-enabled climate-smart agriculture and early warning systems, and mitigating climate change through clean energy and carbon offsetting

epal and Kenya are both highly vulnerable to the effects of climate change, with an increase in flooding, droughts and landslides N caused by the rise in global temperature. Last year, flash floods and landslides over the monsoon season in Nepal killed over 100 people and caused immeasurable damage to the livelihoods of the poorest.

OUR IMPACT

640 people trained in climate-smart agriculture

1 community-based flood early warning system installed

Climate change-driven floods in 2021 destroyed lives and crops in Kenya, displacing well over 25,000 people, while in arid and semi-arid regions over 2 million people faced severe food insecurity following two consecutive poor rainy seasons.

713 tonnes of carbon avoided through RW’s programme

“Without adaptive measures, the number of people who lack sufficient 468,584 tonnes of water for at least one month per year carbon emissions will soar from 3.6 billion today to avoided through RW more than 5 billion by 2050.” 3rd party offsetting for UN Fast Facts on Climate Adaptation 2021 corporate partners

10 Energy for livelihoods

Energy for climate change 11

Climate change is leading to increasingly frequent and more severe natural hazards. The world’s poorest people are the least able to predict natural hazards, prepare for them or protect themselves against their impacts.

and shocks, and reduce emissions through clean energy technologies and sustainable ecosystem management.

We promote climate-smart agriculture and technologies – like drip irrigation systems, cold storage, and crop processing equipment – which improve yields, preserve fresh produce, and reduce carbon emissions. With our agronomic, operational, and financial advice, plus support on accessing markets, inputs, and supply chain management, we help farmers make their businesses more effective and profitable.

Renewable World has systematically integrated the interlinked challenges of food security and climate change into its projects (SolarMUS, UREKA, REALIZE, ENRICH), through climate-smart agriculture technologies and approaches. These projects are helping to increase productivity and incomes, enhance resilience in response to climate-related risks

Sustainable farming through climate-smart agriculture

Our projects are taking an integrated approach to climate-smart agriculture using:

Early warning systems

Early warning systems use integrated communications to help communities prepare for hazardous climaterelated events, saving lives, incomes, homes, land and other infrastructure.

The Bheri River in Surkhet region, mid-west Nepal threatens to flood every year, with extreme floods every 10 years or so which cause devastating impact. In 2014, floods destroyed 1,465 houses and over 100 lives were lost. Even today, people displaced by the disaster continue to live in makeshift shelters.

In response, we installed a pilot solar-powered Early Flood Warning System, coordinating with Nepal’s Department of Hydrology and Meteorology (DHM) directly benefiting over 300 families living on the banks for the Bheri river. After the successful pilot, the DHM commissioned us to install four more early warning systems at other key points along the river. Work is already underway. Once completed over 12,500 people will have sufficient warning when sudden flooding occurs again, helping prevent complete devastation.

Carbon mitigation

Our projects are helping to mitigate climate change by introducing renewable technologies in place of nonrenewable alternatives, including diesel generators and burning unsustainably managed biomass for fuel.

We began work on our own improved cookstove carbon offset project in 2021. The project design and stakeholder engagement have been completed,

“Solar-powered irrigation, weather alert systems, new crop varieties and other adaptive measures can help avoid a drop-off in global agricultural yields by up to 30 percent by 2050.” UN Fast Facts on Climate Adaptation 2021

and we expect to have our own Gold Standard accredited carbon offsetting project operational and delivering impact from next year. This will make an important contribution to mitigating climate change and improving health and welfare.

As the carbon offsetting partner for Octopus Energy and other corporate partners, we also work with other charities and organisations to source high quality voluntary offsets that reduce emissions and enhance livelihoods. Projects supported in 2021-2022 include improved cookstoves in Uganda, Rwanda and Mali, and boreholes in Madagascar.

12 Energy for climate change

Energy for climate change 13

ENERGY FOR HEALTH AND EDUCATION

Using renewable energy to supply clean water for drinking, health and sanitation, electrifying remote health centres and schools to improve health and education outcomes, and enabling cleaner cooking

Water, sanitation and hygiene

OUR IMPACT

e typically integrate water, sanitation and hygiene (WASH) into our water lifting projects. Alongside the installation W of solar water lifting systems, we provide training, resources and information on safe water, sanitation and hygiene.

16,574 people benefitting from electrified health centres

In 2021, we delivered WASH campaigns across 10 communities, reaching 6,631 people through our SolarMUS III project. A further 12,460 people will be reached through WASH programmes as part of two current projects UREKA and TREATS. Through these two projects we will be installing a further six solar water lifting systems and working with 11 schools to improve toilet and sanitation facilities.

10 health centres have access to energy

275 improved cookstoves installed

Electrifying remote health centres and schools

Electricity is essential in delivering health services 24 hours a day, in powering critical health equipment and storing medicines and vaccines. It is also critical to digital learning which is increasingly important for improving education quality. More broadly, electricity enables children to study in the evening, and can be used to pump water to improve sanitation and safety for school children and those visiting health centres.

Working with local governments in 2020, we piloted the installation of solar energy systems at five rural health units, bringing improved health services to over 8,410 people. Since then, we have expanded this project and have installed a further 10 solar systems in health units to run essential medical equipment such as nebulisers, as well as fridges to store vaccines. This has been a lifeline for over 16,570 of people who previously had to walk for hours, often along inaccessible roads, to get

CASE STUDY

Saving lives through electrifying health centres

“

The refrigeration facility is a huge boon to the health staff as we no longer have to get up at 3 am collect vaccines from the district health centre. Even more than this, the communities have benefitted as previously, people who missed the one-day immunization camp had to wait until another round of immunization or go to another health facility to get the service. Health Worker, Baispani Health Post Nepal

the health care they needed. This especially took its toll on older people, pregnant women and new mothers.

We’re expanding this successful programme in 2022 to power four rural off-grid health clinics in the Kajiado region of Kenya. These clinics lack lighting, equipment and refrigeration, and people are at risk of dying from preventable and treatable diseases, especially diarrheal and respiratory infections.

Our Transforming Education through Energy Access & Simple Sustainable Solutions (TREATS) project in Nepal is improving water access, WASH facilities, and hygiene practices in all 11 secondary schools in Gulmi Darbar Rural Municipality in Nepal.

By building new or refurbishing existing facilities, each school will have a separate toilet for boys and girls, an accessible toilet for children with special needs, a hand washing station, and an incinerator for sanitary products. So far, WASH facilities have been completed in four of the 11 schools, and we have piloted a Smart Paani water filter, with sedimentation and collection tanks, in one school, bringing clean drinking water to 433 school users. WASH education has been rolled out across all 11 schools, and learning disseminated to the community through youth ‘agents of change’.

Once complete, this 30-month project will have improved WASH in 11 schools and installed two solar water lifting pumps for schools without reliable access to water. The project will benefit over 3,000 children and more than 9,000 people in school-adjacent communities on safe water, hygiene and sanitation.

14 Energy for health & education

Energy for health & education 15

CASE STUDY

Improving girls’ education outcomes through water and sanitation

Prakit Kandel is the chairperson of the re-established children’s club in his school (Saradha Secondary School).

For Prakit, the children’s club was just a formality, but now he and his friends are excited to be members. He says that the hygiene sessions provided by the TREATS project, along with the provision of the handwashing stations outside the toilets, have encouraged the practice of handwashing.

“

We feel more confident talking about these issues, especially the girls who now feel comfortable requesting sanitary pads. It also helps us boys understand about the problems faced by girls during menstruation.

ENERGY FOR CATALYTIC CHANGE

Prakit recalls “previously girls felt shy asking for sanitary pads and used to run home if their period started when they were in the school.” But thanks to girls and boys learning together about menstruation hygiene, girls feel more confident talking about these issues.

The solar microgrid we installed on Kiwa Island in Kenya has provided the local school and community with electricity - children can now study after the sun has gone down without needing dangerous kerosene lamps to read. The teachers have access to the Internet to prepare exams and print them at the school, without having to travel hours by boat to the nearest town or onto the mainland to do so. The boarders use safe, clean electricity at night to read and study. “In the past year we have seen a great improvement in children’s grades, especially those with power at home. Working without electricity was a real challenge - we are so grateful for the energy connection.” Deputy Head of Mark Matunga Kiwa Mixed Secondary School in Kiwa Island, Kenya

Cleaner cooking

In 2021-22, we installed 275 Tier 1 improved cookstoves which have significantly reduced the amount of polluting and harmful fuels that households use every day to put food on the table. We are in the process of installing a further 150 Tier 2 improved cookstoves. Through piloting different models, we’ve helped improve livelihoods and reduce carbon emissions, while also piloting technologies to scale-up through our own Gold Standard offsetting programme.

CASE STUDY

Improving the lives of women and tackling climate change through cleaner cooking

“ I used to spend 90 minutes preparing meals and everything used to get black due to smoke - but now cooking takes 30 minutes on the improved cookstove. The old stove used a lot of firewood which I had to fetch every week. Most of my time was wasted fetching fuelwood and cooking and I was sad to not spend time with my daughter. But now everything has changed. I have time to take care of my daughter and can spend less time cooking.

Sushila, a teacher from Raniban, Nepal, using a new improved cookstove.

Creating catalytic change through the productive use of energy, sustainable multi-stakeholder partnerships, and piloting scalable innovations

Productive use of energy

hrough our livelihoods work, we have become experts in the productive use of energy. We work with communities, manufacturers, T suppliers, funders and buyers to unlock the economic opportunities made possible through access to clean, reliable and affordable energy.

As well as directly improving people’s livelihoods, increasing energy consumption through productive use can help unlock investment from the public and/ or private sector in clean energy production and distribution. With our expertise in clean energy, livelihoods, demand-modelling, multi-stakeholder mobilisation and project structuring, this is an area where Renewable World aims to play a catalytic role in the future.

Productive use technologies

Our ongoing Renewable Energy Access for Livelihoods in Fragile Buffer Zones (REALiZe) project is taking a holistic approach to conservation and livelihood enhancement. We are working to empower communities living in the buffer zones of Nepal’s Banke and Bardia national parks to conserve and protect the fragile landscape in which they live, whilst improving their standard of living and diversifying their livelihood opportunities through the introduction of clean energy technology and the establishment of climate smart value chains. In addition, we are supporting local management groups so that they will - often for the first time - have a voice and a real say in the management of the buffer zones.

Our projects are exploring a range of technologies, including:

16 Energy for health & education

Energy for catalytic change 17

Sustainable partnerships

Partnerships are key to delivering our transformational impact. We practice locally led development, and work closely with communities, local NGOs, governments and other market actors to form the right partnerships to deliver sustainable impact.

Key to the growth of our Nepal programme over the last three years has been our community-centred approach, for which we won the Community Initiative Award from the Energy Institute in 2017. We will refine this approach further next year within a wider market-systems framework and adapt it to the Kenya context.

We provide only the grant finance needed to make the project happen, and leverage investment from communities, government or the private sector, often all three. This increases sustainability and means our money goes further. Funding for our recently completed SolarMUS III project, consisted of roughly 25% Renewable World (funded by Jersey Overseas Aid and the Unica Foundation), 25% community (financial and non-financial contributions) and 50% government funding.

Our current ENRICH biogas project has been designed to enable just that. We have already sourced commercial bag digester technology and introduced it for the first time in Nepal. As an unproven technology in this context, we 100% grant funded the core capital costs, with entrepreneurs providing in-kind funding through labour, and funding ancillary materials and equipment. We have engaged the public and private sector to demonstrate the commercial and development impact, and we aim to facilitate a commercial market for this product, enabled through partial government subsidy (already in place for traditional concrete biogas).

Scalable innovation

We believe in the power of innovation and are experienced and have a strong focus on piloting technologies in new contexts and mobilising others to take them to scale - particularly the private sector and government.

Community-centred approach

CATALYSE: We determine the communities’ needs; what resources are available; and the environmental impacts before choosing the best solution to deliver sustainable programmes that catalyse the development of some of the poorest communities in the world.

TRANSFORM: We build resilient partnerships with local and regional governments, civil society organisations, and non-governmental organisations to create impact through the power of clean energy.

INCLUDE: We work with community stakeholders to implement these energy systems and provide training in good governance for their ongoing management. This promotes community ownership, inclusive access to new services, increased crop yields and varieties, educational attainment, and business opportunities.

SUSTAIN: Sustainability and scaling-up programmes to reach more people is achieved through our evidencebased approach. Technical, financial, and social sustainability means:

OUR PROJECTS

The table below shows our programme, our target beneficiary reach and project completion dates

PROJECT NAME Target
Reach		 Start
Date		 End
Date		 Country
CONTINUING PROJECTS
Solar Water Lifting for Multiple Use
Systems (Solar MUS III)		 6,383 Mar 2018 Sep 2021 Nepal
Energy Hubs Optimisation 619 July 2019 Jun 2021 Kenya
Kiwa Expansion & Icemaking 2,280 July 2019 Jun 2021 Kenya
Clean Energy for Improved Health
(E4H) Phase l		 9,411 Apr 2020 Sep 2021 Nepal
Enriching Agriculture using Bag
Digesters (ENRICH)		 3,300 Apr 2020 Sep 2023 Nepal
Renewable Energy Access for Livelihoods
in fragile Buffer Zones Nepal (REALIZE)		 8,378 July 2020 Dec 2023 Nepal
Using Renewable Energy to
Kickstart Agriculture (UREKA)		 9,148 Oct 2020 Sep 2023 Nepal
Transforming Education via Energy Access
and Simple Sustainable Solutions (TREATS)		 3,383 Jan 2021 Jun 2023 Nepal
NEW PROJECTS 2021/22
Clean Energy for Improved Health
(E4H) Phase II		 7,163 July 2021 Jun 2022 Nepal
Bheri River Early Warning Systems (EWS) 11,484 Nov 2021 Oct 2022 Nepal
RW Gold Standard Carbon Offsetting 17,500 Jan 2021 TBC Nepal

18 Energy for catalytic change

Our projects 19

OUR FUNDERS

We thank our funders for providing us with the means to deliver projects that transform the lives of the world’s poorest people through clean energy:

OUR DELIVERY PARTNERS

And we thank our implementation partners who are integral to delivering our impact on the ground:

20 Our funders

Our delivery partners 21

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

Governance, Administration and Management

enewable World is a charitable company limited by guarantee registered with the Charity Commission since 4 June 2007. R It is governed by its Board of Trustees in accordance with its Articles of Association, and with reference to all matters arising from its registration under the Charities Act 2011. The Board of Trustees sets the overall mission, direction and strategy for successful fulfilment of the charity’s purposes and continued development as a viable enterprise. It delegates implementation of strategic decisions and the day-to-day management to the Chief Executive Officer and senior managers.

The trustees (who are also directors of the Charity for the purposes of the Companies Act) present their annual report together with the financial statements of Renewable World (‘the Charity’) for the year ended 31 March 2022. The trustees confirm that the annual report and financial statements of the Charity comply with the Charities Act 2011, the Companies Act 2006 and 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) (effective 1 January 2015).

Appointment of trustees

The Chair of the trustees is nominated by the Board of Trustees. Trustees must resign at the next General Meeting after three years’ service but may stand for re-election. Once a trustee gives notice that they will be unable to continue their role, a process of recruiting a new trustee is undertaken. The role is normally advertised nationally, and a search is carried out to identify suitable replacement candidates, taking into account skill needs and diversity. Once suitable candidates have been identified they are typically invited to attend an interview with two or more trustees to introduce them to the Charity and assess their skills

and motivation. The successful candidates are then invited to the next trustees’ meeting where they are recommended and then elected by the members of the charity for a three-year term.

2021-22 Trustees and Secretariat

The organisation has at least four, but no more than twelve trustees. In March 2022, Christopher Morgan took over as Chair and Stephen Walker as Vice Chair. At end of 2021-22, Renewable World had 10 trustees:

● Neil Pinto (Chair until 7 March 2022)

● Christopher Morgan (Chair from 7 March 2022)

● Catherine Adams (Treasurer)

● Stephen Walker

(Vice Chair from 7 March 2022)

● Diana Du Luart (“Diana France”)

● Lata Shrestha

● Eamon Cassidy (appointed 7 September 2021)

● Carolina Karlstrom

(appointed 29 November 2021)

● Emma Whiteacre

(appointed 29 November 2021)

● Richard Dewdney

(appointed 29 November 2021)

Five directors resigned during 2021-22:

● Peter Weston (resigned 29 November 2021)

● Sarah Donnelly (resigned 7 September 2021)

● Alexandra Poole (resigned 29 November 2021)

● Marc Monserrat (resigned 24 May 2021)

● Patrick Davis (resigned 28 April 2021)

The Company Secretary is Janaki Jayasuriya (appointed 28 July 2021), following the resignation of Matthew Stubberfield (resigned 28 July 2021). The CEO, Phil Brown, was appointed on 4 October 2021.

Trustee induction and training

New trustees undergo orientation sessions covering: their legal obligations under charity and company law; the Charity Commission guidance on public benefit; the content of the Memorandum and Articles of Association; the committee and decision-making processes; the business plan; and recent financial performance of the Charity. During their induction they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Trustee payments

All Trustee directors give their time freely and no director received remuneration in the year. Details of directors’ expenses and related party transactions are disclosed in note 11 to the accounts.

Committees

There are six committees of the board, chaired by a designated trustee, with participation from at least three members of the board and relevant senior managers, consisting of:

● The Operations Committee , chaired by the Chair of Trustees with the Treasurer, oversees financial performance, risk, audit and takes decisions on urgent issues. It met ten times in 2021-22.

● The Programme Committee which oversees programme delivery, including impact, finance, risk and future pipeline. It met four times in 2021-22.

● The Fundraising Committee oversees fundraising strategy and income performance. It met only once in April 2021, after which fundraising income was covered by the Operations Committee.

● The Strategy Committee was formed to support the development of Renewable World’s strategy. It met on an ad hoc basis and was disbanded in March 2022 on Board approval of the strategy.

● The Ethics, Sustainability and Governance Committee oversees issues relating to these areas, including overall Board governance, Renewable World’s net zero policy, and fundraising ethics. It met four times in 2021-22.

● The Remuneration Committee consisting of trustees only met in March 2022 to approve the CEO salary and overall staff salary budget.

22 Trustees’ report

Trustees’ report 23

REFERENCE AND ADMINISTRATION DETAILS

Company number 06005778

Charity number 1119467

Registered office 1st and 2nd Floor Offices 161 Edward Street Brighton BN2 0JB

The Co-operative Bank PO Box 250 Skelmersdale WN8 6WT

Bankers

Auditors

Kreston Reeves LLP Chartered Accountants & Statutory Auditor 37 St Margaret’s Street Canterbury Kent CT1 2TU

Objectives and activities

Renewable World, a registered charity in England, has the principal objective to relieve poverty through the provision of clean and affordable renewable energy.

Our aims as defined in the company’s articles of association are:

● To relieve poverty;

● The preservation, conservation and protection of the environment by the reduction of carbon emissions and the prudent use of natural resources; and

● To advance the education of the public and interested parties in effective reduction of greenhouse gases, the effects of climate change, and sustainable solutions to problems arising from climate change, and to promote and carry out for the public benefit research into such issues and to publish and widely disseminate the useful results of such research.

Public benefit test

Our activities, achievements, and the difference we have made, are summarised in the 2021-22 Annual Report (of which this forms a part).

In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.

FINANCIAL REVIEW

Financial position at year end

Renewable World is in a strong financial position at the end of 2021-22. Despite the challenging external environment, it achieved its highest ever income of £3,425,753, an increase of 92% over the previous year (2021: £1,779,685). Of this, £2,592,002 is restricted income, up 89% (2021: £1,369,942), while unrestricted income increased by 103% to £833,751 (2021: £409,743).

Broadly tracking the increase in income, total expenditure has increased to £3,129,627 (2021: £1,470,733), an increase of 113%. The proportion of spend on charitable activities over total expenditure has also increased to 92% (2021: 85%). With restrictions lifting in 2021, charity overheads which include all fundraising costs and governance costs have increased to £247,110 (2021: £219,527) and are at 8% (2021: 15%) of total expenditure.

To support the growth of the programme in Nepal, the global staff team increased from an average full time equivalent of 18 to 24 in 2022 and the number of local partners increased from 8 to 12. Total staff costs have increased from £434,499 in 2021 to £559,924 in 2022.

Reserves policy

The charity’s reserves policy is adjusted to trustee’s assessment of risk, particularly to future income streams. This flexible reserve target will be broadly equivalent to three months operating costs, giving us a target of £192,000 at the end of 2021-22.

Reserves held

We end this financial year with healthy reserves: unrestricted reserves of £277,035 (2021: £156,862); designated reserves of £121,689 which are earmarked to develop our own carbon offsetting project (2021: £0); and restricted reserves of £666,208 (2021: £612,682). These reserves place Renewable World in a strong position as it begins its new strategic period 2022-2025.

Fundraising

In the context of a challenging external environment, our 2021-22 fundraising priority was to maintain a diversified income portfolio. This included stewarding existing partnerships with key trust and foundation partners such as Happold Foundation, Unica Foundation, Innocent Foundation, EKOenergy and NextEnergy Foundation and building new partnerships with the Kirby Laing Foundation and Forrester Family Trust, among others. We also committed to raising funds for a project which had its funds cancelled post approval, by FCDO/DFID in early 2021, placing additional pressure on the income pipeline. We are grateful to all our funders and the many people who have supported our work through these challenging times. We were also pleased to be supported again by Jersey Overseas Aid and Guernsey Overseas Aid.

Whilst we expected that corporate giving may suffer during the pandemic years, we were delighted to receive continued support from the Beazley Group, Rotork and HFW amongst many others. Their many ways of giving, including through corporate donations, employee fundraising and pro bono expertise, helped keep our fundraising resilience high. One highlight of the year was Earth Wind & Tyre that for the first time became a physical and virtual hybrid event.

The success of both our Big Give campaigns, and especially the Big Give Christmas Challenge 2021 where we exceeded our ambitious £100,000 target were also highlights of our fundraising year. We are thankful to the EQ Foundation and the Big Give Trust for agreeing to match funds raised by us and to everyone who supported these campaigns that also gave us greater visibility and brand benefits.

We were pleased to announce in September 2021 that our carbon offsetting partnership with Octopus Energy had entered into a new three-year phase. We have worked closely with Octopus to curate a portfolio of projects that offset 461,000 tonnes of carbon generated by Octopus Super Green Gas Tariff customers in 2021.

24 Administration details

Financial review 25

in-person events, but funding remained resilient. In all offices, we followed government guidelines, while giving people the option of working from home in all circumstances. With the withdrawal of COVID-19 restrictions, we are now operating a hybrid model with mixed home and office working.

Fundraising compliance

Renewable World is registered with The Fundraising Regulator, and we use the Fundraising Badge to show our commitment to best practice. We adhere to the Codes of Fundraising Practice which cover all aspects of voluntary income generation in the UK. We can confirm that we have not received any complaints with regards to the Charity’s fundraising activity.

Internal controls

In recognition of its responsibilities for the Charity’s system of internal control, the Board of Trustees has established control systems that aim, in part, to provide reasonable but not absolute assurances against material misstatement or loss. The controls in place include:

When working with a third party or partner organisation for fundraising purposes, we work closely with them to make sure they meet our own high standards of practice. During the reporting period, we worked with one third party Professional Event Management Company. We have developed Fundraising Policies to further support our commitment to high standards of practice. Areas covered include current fundraising best practice, data protection and protecting vulnerable people.

● Authorisation controls by responsible personnel to ensure that only transactions which are necessary and fall within the scope of the company’s operations are undertaken, and that alterations or amendments to existing company records are properly authorised.

Despite the challenges of the year, our fundraising performance has allowed us to continue to invest in securing income for the future.

● Recording controls that ensure that only authorised transactions are taken into the accounting records. Elements of these controls comprise segregation of duties among personnel and checking reports against input source documents. ● Employment of suitably qualified and experienced staff to take responsibility for the key areas of the Charity’s business.

COVID-19 pandemic

The pandemic continued to impact on our programmes in Nepal, with further waves causing loss of life, lockdowns and project delays. Our experience from the first wave in delivering virtually, working through local delivery partners, and communicating with funders early and honestly, helped mitigate the impact. Our fundraising activities were constrained, especially

● Preparation of forecasts and budgets which allow the Trustees and Senior Management to monitor the key business risks and financial objectives and identify variances.

The trustees have reviewed and continue to review the effectiveness of the system of internal control through delegated authority to appropriate personnel. The reviews carried out in the financial year ended 31 March 2022 have not revealed any weaknesses in internal control resulting in repeated losses, contingencies or uncertainties which the trustees regard as material therefore requiring disclosure in the financial statements or the Auditor’s report on the financial statements.

Risk management

The Board of Trustees regularly reviews the principal risks, in the form of a risk register, to which the Charity is exposed. Risks are minimised as cost effectively as possible, or accepted and contingency plans made. In accordance with our risk policy a risk register which incorporates financial, programmatic and systematic risks to the organisation was reviewed at the 24 May 2021 and 29 November 2021 Board meetings. Board committees review specific risks in more detail, and the Operations Committee oversees risk management policy, internal controls and audit. Risk management is also embedded in project management and elevated where necessary.

Our critical risks and how we address them

As we have experienced over the last three years, external events (pandemic, natural disaster, war, inflation, financial crash) can impact on our ability to deliver programmes, fundraise and operate as a team. Our response to the pandemic has made us more resilient and adaptive operationally, but major disasters are difficult to predict or manage, and the war in Ukraine, cost of living crisis and decline in UK ODA will also impact on funding. Our increasing emphasis on climate change adaptation and larger, established funders, should help reduce this risk.

While we have a diversified income portfolio across individuals, corporates, trusts and foundations and institutions, we recognise the current fragile external fundraising environment and mitigate this risk by monitoring our pipeline income rigorously.

Most of our programme funding is received in fixed value sterling grants, whilst our programmatic costs are for our local partners and staff which are paid in

local currency. We have found that exchange rate losses and gains can fluctuate widely in the regions we work in, especially Nepal and Kenya, and due to sterling instability. This uncertainty or any losses could lead to programme shortfalls or a delay whilst new funding is sought. The Board has agreed an appropriate hedging and currency holding policy to reduce and manage exchange rate risk in line with programme activity.

Investment powers and policy

Due to the relatively low levels of funds, the trustees have deemed it inappropriate to make long-term investments, and all funds are held in a portfolio of current and deposit bank accounts split between restricted and unrestricted funds.

Grant making policy

The Charity makes grants to implementing partners supporting our projects. The Charity has a comprehensive selection of recently strengthened processes that includes the following key steps:

● All new partners must submit a formal Expression of Interest based on the Terms of Reference usually under competitive tender.

● A two-stage due diligence process is undertaken for all new partners and every three years thereafter (a) firstly the partner completes a self-assessment questionnaire and (b) secondly a critical review is undertaken of supporting documents by a Renewable World Manager.

● Capacity assessment of all partners is undertaken annually using a self-assessment questionnaire. This is supplemented by an assessment tool applied at site visits that builds on the above with supplementary questions seeking evidence.

● Both aspects feed into a partner capacity building action plan which is monitored by the Senior Management Team for that country programme.

● If approved by the Country lead, a Project Cooperation Agreement defining project budgets and deliverables is signed between partners. ● Quarterly project financial review against budget must be approved by both the project and finance leads before approval of partner payment.

These steps ensure that accountability and transparency is maintained. Grant renewal is always subject to performance, review and planning.

26 Financial review

Financial review 27

Going concern

Disclosure of information to auditors

We, the trustees of the Charity who held office at the date of the approval of these financial statements as set out on page 1, each confirm, so far as we are aware, that:

As set out above as of 31 March 2022 the Charity had cash reserves of £240,780 (2021: £157,585), in excess of three month’s operating expenses. These were free reserves not including other restricted funds held or fixed assets.

Through the monthly review of management accounts, the Operations Committee meetings and the close cooperation between the Treasurer and the staff members responsible for finance, the trustees regularly review future anticipated income and expenditure and are satisfied that the charity continues to be a going concern. The Board has taken additional consideration of the impact of the pandemic, cost of living crisis and Ukraine war to fundraising and our programmes and operations. The Board believes that forecasting and planning adequately takes account of the most likely scenarios and that Renewable World will remain a Going Concern.

On behalf of the board

Christopher Morgan Chair 6th September 2022

The Board of Trustees is of the opinion that Renewable World has adequate resources to continue its operations for the foreseeable future.

Catherine Adams Treasurer 6th September 2022

The trustees (who are also directors of Renewable World for the purpose of Company Law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law and the Charities Act 2011 as applied by the articles of association of the charitable company 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 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:

articles of association of the charitable company. 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 preparing this report, the trustees have taken advantage of the small companies’ exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the trustees on 6th September 2022 and signed on their behalf, by:

● select suitable accounting policies and then apply them consistently;

● observe the methods and principles in the Charities SORP;

Christopher Morgan Chair

● make judgments and estimates that are reasonable and prudent;

● prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper 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 and the Charities Act 2011 as applied by the

Catherine Adams

Treasurer

28 Financial review

Financial review 29

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF RENEWABLE WORLD

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.

Opinion

We have audited the financial statements of Renewable World (the ‘charitable company’) for the year ended 31 March 2022 which comprise the Statement of financial activities incorporating income and expenditure account, the Balance sheet, the Statement of cash flows and notes to the financial statements, including a summary of 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).

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 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.

In our opinion the financial statements:

● give a true and fair view of the state of the charitable company’s affairs as at 31 March 2022, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

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

● have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

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 contained within the annual report. 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

● have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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

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.

misstatements in the (strategic report and the) 3 directors’ 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:

We have nothing to report in this regard.

● adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

Opinions on other matters prescribed by the Companies Act 2006

● the financial statements are not in agreement with the accounting records and returns; or

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

● certain disclosures of directors’ remuneration specified by law are not made; or

● the information given in the trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

● we have not received all the information and explanations we require for our audit; or

● the trustees’ report been prepared in accordance with applicable legal requirements.

● the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Matters on which we are required

to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material

30 Auditors report

Auditors report 31

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the 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 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 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 noncompliance 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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Capability of the audit in detecting irregularities, including fraud

Based on our understanding of the charity and the sector as a whole, and through discussion with

the Trustees and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities SORP (FRS 102) Second Edition (released October 2019), the Companies Act 2006 and other relevant charity legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated Trustees’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks related to posting inappropriate journal entries to increase revenue or reduce expenditure, management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the engagement team included:

● Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety) and fraud, and review of the reports made by management and internal audit; and

● Assessment of identified fraud risk factors; and

● Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud; and

● Challenging assumptions and judgements made by management in its significant accounting estimates; and

● Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and

● Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and

● Reading minutes of meetings of those charged with governance, reviewing internal audit reports and reviewing correspondence with relevant tax and regulatory authorities; and

● Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and

● Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

● Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

● Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company’s internal control.

● Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

● Conclude on the appropriateness of the trustees’

use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.

● Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company’s trustees, 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 trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Sellers FCCA (Senior statutory auditor)

for and on behalf of Kreston Reeves LLP

Statutory Auditor Chartered Accountants Canterbury 7th September 2022

32 Auditor’s report

Auditor’s report 33

STATEMENT OF ACCOUNTING POLICIES

operations which are described in the Directors’ and Trustees’ Report, all of which are continuing.

Legal status of the entity

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015 applicable Accounting and Reporting by Charities the Companies Act 2006 and the Charities Act 2011.

Renewable World is a company limited by guarantee. The registration number is 06005778 and the date of registration was 15th December 2006. Renewable World is also a registered charity with the Charities Commission of England and Wales. The Charity registration number is 1119467 and the date of registration was 4th June 2007. 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.

Renewable World meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Basis of preparation

The accounts are prepared under the historical cost convention and include the results of the Charity’s

Tangible fixed assets and depreciation

charitable objectives these grants are recognised when the Charity has entitlement to the resource, or its receipt is probable with the timing of the expenditure being within the discretion of the Charity. Such resources are only deferred where the donor imposes specific conditions that specify the time period in which the expenditure of the resources can take place.

All assets costing more than £500 are capitalised.

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

No permanent endowments have been received in the period, but these are dealt with through the statement of financial activities when received.

The value of voluntary work is not included in the figures within the financial statements.

Computer equipment 3 years - straight line basis Furniture and fixtures 3 years - straight line basis

Restricted funds

Incoming resources

Donations, bequests or incoming resources which the donor has earmarked for a specific purpose are treated as restricted funds. These funds may be income only (where the capital must be retained) or income and capital (where the donation and the income therefrom may be utilised).

Voluntary income and donations are accounted for when the charity has entitlement to the funds, when certainty of the receipt is probable and amount can be measured with sufficient reliability. The income from fund raising ventures is shown gross, with the associated costs included in fundraising costs.

Unrestricted funds

Where income is in return for a good or service, such as with our Christmas Cards, it is treated as nonprimary purpose trading. The income in FY 2021/22 is within the small-scale exemption from corporation tax as detailed by HMRC.

Funds which are expendable at the discretion of the Trustees in the furtherance of the objects of the Charity are classified as unrestricted funds. These funds are used to keep the charity operating after accounting for our costs of running the projects.

Where the Charity receives grants to further its

34 Accounting policies

Accounting policies 35

Designated funds

Governance costs

These are funds, previously classed as unrestricted, chosen by the trustees to support a particular project permanently or until sufficient restricted project funds are raised.

These are the costs associated with the governance arrangements of the Charity as opposed to those costs associated with fundraising or charitable activities. Governance costs include audit costs and costs associated with constitutional or statutory requirements, for example the costs associated with Trustee meetings, preparing the statutory accounts and associated staff time.

Foreign exchange gains and losses

Monetary assets and liabilities denominated in foreign currencies are translated into pounds sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the net movement in resources for the year.

Pension costs

The Charity operates a defined contribution pension scheme for its staff. The costs charged in the financial statements represent the amounts payable to the scheme for the accounting period.

Resources expended

Cost of generating funds

Cost allocation

These are the costs which are associated with generating incoming resources from all sources other than from undertaking charitable activities. This includes costs of generating voluntary income and costs relating to fundraising trading.

Where possible, costs have been allocated directly to the activity to which they relate. However, there are also shared support costs that enable the Charity’s charitable, income generating and administrative activities to be undertaken. These costs have been allocated to the Charity’s activities using staff time as the primary cost driver.

Charitable activities

Grant expenditure is recognised as funds which are transferred to partners. These transfers are tightly controlled through the Charity’s grant-making policy.

Associated support and partner development costs are allocated on a total cost basis and exclude fundraising and governance costs.

STATEMENT OF FINANCIAL ACTIVITIES

(incorporating an Income and Expenditure account) for the year ended 31 March 2022

Incoming resources
Incoming resources from
Generated Funds
Voluntary income:
Donations and gifts
Challenge events
Activities for generating funds:
Trading income
Investment income
Other incoming resources
Other income
Total incoming resources
Resources expended
Costs of raising funds:
Costs of generating
voluntary income
Charitable activities:
Grants to partners
Direct programme activity
Total resources expended
Net incoming resources
before transfers
Transfers between funds
Net incoming resources
after transfers
Other recognised losses
Exchange gain / (loss)
Net incoming resources
Opening fund balances
Closing fund balances
Notes

1

2

3

4

5


6

7

8

20

10

20&21		 Restricted
Funds
£
Unrestricted
Funds
£
2,570,509
741,811
21,493
77,540
-
12,360
-
1,715
-
325
2,592,002
833,751
1,793
148,201
272,451 -
2,265,891
441,291
2,540,135
589,492
51,867 244,259
1,659 (1,659)
53,526 242,600
-
(738)
612,682
156,862
666,208
398,724		 Total
2022
£
3,312,320
99,033

12,360
1,715
325
3,425,753
149,994

272,451

2,707,182

3,129,627
296,126
-

296,126
(738)

769,544
1,064,932
 Total
2021
£
1,708,559
42,080
13,639
1,992
13,415
1,779,685
134,723
100,167
1,235,843
1,470,733
308,952
-
308,952
(4,886)
465,478
769,544

There were no recognised gains or losses in 2021 or 2022 other than those in the statement of financial activities. All amounts relate to continuing operations. On behalf of the board

Chris Morgan (Chair) 6th September 2022

Catherine Adams (Treasurer) 6th September 2022

36 Accounting policies

Financial activities 37

for the year ended 31 March 2022

BALANCE SHEET

STATEMENT OF CASHFLOWS

as at 31 March 2022

Company Number 06005778

ompany Number 06005778
Notes
Fixed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
Current assets
Creditors:falling due within one year
Net current assets
Net assets
Funds of the Charity
Restricted funds
Designated funds
Unrestricted funds:General funds
Total funds
13

14

15

16

19&20
19&20

19&20

19&20
 2022
£
2021
£
14,63612,156
825,661
543,369
1,879,121
519,925
2,704,782
1,063,294
1,050,296
757,388
(1,654,486)
(305,906)
1,064,932
769,544
666,208
612,682
121,689
-
277,035
156,862
1,064,932
769,544

These accounts for Renewable World (company no. 06005778) are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Cash used in operating activities
Cash fows from investing activities
Interest income
Purchase of tangible fxed assets
Cash provided by (used in) investing activities
Cash fows from fnancing activities
Repayment of borrowing
Cash used in fnancing activities
(Decrease)/increase in cash and cash equivalents in
the year
Cash and cash equivalents at the beginning
of the year
Total cash and cash equivalents at the end
of the year
Notes
22

4
13		 2022
£
2021
£
1,371,541
115,677
1,715
1,992
(14,060)
(15,784)
(12,345)
(13,792)
1,359,196
101,885
519,925
418,040
1,879,121
519,925
-
-
-

-
-

-

The notes on pages 40 to 51 form an integral part of the financial statements.

These financial statements were approved by the board on 6th September 2022 and signed on its behalf, by:

Chris Morgan (Chair)

Catherine Adams (Treasurer)

38 Financial activities

Financial activities 39

NOTES TO THE ACCOUNTS

1 Donations and gifts £20,000 and above

Anonymous Donor # 1
Anonymous Donor # 2
Beazley Group
Forrester Family Charitable Trust
Guernsey Overseas Aid
& Development Commission
HFW LLP
Jersey Overseas Aid
Commission (JOA)
Octopus Energy
Rotary Club of Daventry
Rotork PLC
The EQ Foundation
The Happold Foundation
The Innocent Foundation
The Unica Foundation
Donations and gifts below
£20,000
Total		 Total
2022
£
Restricted
£
Unrestricted
£
Total
2021
£
-
-
30,000
12,500
12,50023,146
35,219
43,32878,547
49,064
25,000
25,000
-
22,334
22,33415,866
20,292
13,220
33,512
47,519
238,848
238,848
170,866
1,933,359
462,9412,396,300
986,930
20,000
20,000
-
50,000
50,000
40,000
25,000
25,000
-
40,484
40,484
39,101
32,857
32,857
43,387
30,00030,000
30,000
2,430,893
574,489 3,005,382
1,475,879
139,616
167,322
306,938
232,680
2,570,509
741,811
3,312,320
1,708,559

2 Challenge events

We adapted our Earth Wind & Tyre cycle event in 2021 to a one-day physical event alongside a month-long virtual event. We are using the same model for our 2022 event. The total income raised by Earth Wind & Tyre in this financial year was £75,020.

3 Trading income

Affnity income
Sale of merchandise		 Restricted
£
Unrestricted
£
-
350
-
12,010
-
12,360		 2022
£
2021
£
350
496
12,010
13,143
12,360
13,639
Restricted Unrestricted 2022 2021
£ £ £ £
Interest from cash deposits - 1,715 1,715 1,992

5 Other income

Consultancy & other income
Furlough income		 2022
£
Restricted
£
Unrestricted
£
2021
£
-
325
325
-
-
-
- 13,415
-
325
325
13,415

6 Cost of generating funds

Cost of fundraising
Staff costs
Property costs and rent
Publications and literature
Travel
Depreciation		 1,793
35,055
-
94,619
-
14,103
-
672
-
270
-
3,482
1,793
148,201
Restricted
£
Unrestricted
£		 36,848
16,336
94,619
109,949
14,103
4,991
672
1,152
270
-
3,482
2,295
149,994
134,723
2022
£
2021
£

Our fundraising costs relative to fundraising and trading income are 4% (2021: 7%) and relative to total expenditure are 5% (2021: 9%).

40 Notes to the accounts

Notes to the accounts 41

7 Charitable activities - grants paid to partners

8

Charitable activities - direct programme activity

Charitable activities
International Programme –
Kenya, Africa
Osienala
International Programme –
Nepal, Asia
BEE Group
DDS, Salyan
LI-BIRD
NPYS
Onion flms Nepal
Ramesh Shrestha
SAPPROS
Sundar Nepal Sanstha
Surodaya Urja
SWC Nepal
WAC Nepal
Working for Access & Creation		 Restricted
£
Unrestricted
£
-
-
12,010
-
27,747
-
29,363
-
48,952
-
3,545
-
1,678
-
20,674
-
99,944
-
8,341
-
8,355
-
11,842
-
272,451
-
-		 2022
£
2021
£
-
6,342
12,010
-
27,747
3,613
29,363
17,721
48,952
-
3,545
-
1,678
-
20,674
-
99,944
69,324
8,341
-
8,355
-
11,842
-
272,451
100,167
3,167

The last financial year was a disruptive year for our Nepal programme due to COVID and delays in regulatory approval. In 2022, we were able to gain momentum and a total of £272,451 was dispersed to a total of 11 partners, compared to £100,167 to 4 partners in 2021.

Staff Costs
Contractor costs
Carbon Offset Services
Consulting
Travel
Property costs and rent
Finance and administration
Other costs
Depreciation
Governance and support costs
Total charitable expenditure		 Restricted
£
177,773
25,840
2,006,927
3,394
28,128
21,175
389
2,265
-
-
2,265,891
2,538,342		 Unrestricted
£
244,909
27,152
-
16,358
17,908
22,770
1,112
8,407
5,559
97,116
441,291
344,175		 2022
£
2021
£
422,682
292,981
52,992
53,412
2,006,927
745,997
19,752
571
46,036
21,046
43,945
27,392
1,501
1,041
10,672
4,698
5,559
3,901
97,116
84,804
2,707,182
1,235,843
2,882,517
1,251,206

Total charitable expenditure

9 Analysis of governance and support costs

Renewable World Staff Costs
Trustees’ expenses
Audit, I.E. and related services
Property costs
Depreciation
Travel
Other Costs		 Restricted
£
Unrestricted
£
-
70,530
-
11,821
-
11,800
-
2,596
-
201
-
168
-
97,116
-
-		 2022
£
2021
£
70,530
65,275
11,821
15,511
11,800
2,602
2,596
1,205
201
-
168
211
97,116
84,804
-
-

Included within “Audit, Independent Examination and related services” are £4,950 + vat (2021: £4,700 + vat) for the 2021/22 audit and £1,058 (2021: £1,200) for our South Asia branch independent examination.

42 Notes to the accounts

Notes to the accounts 43

13 Tangible fixed assets

10 Exchange gains and losses 2022 2021 £ £ - Exchange (loss) on projects recognised as a future liability on (466) project funds (restricted) Other exchange (losses)/gains (unrestricted) (738) (4,420) (738) (4,886) 11 Staff costs 2022 2021 £ £ The total staff costs were as follows: Wages and salaries 486,370 387,969 Social security costs 34,930 20,527 Pensions costs 38,624 26,003 559,924 434,499 2022 2021 The average monthly number of employees during the year (headcount) 26 21

One employee received emoluments in excess of £60,000 (2021: nil). The senior management team was increased to four personnel from two and the aggregate salary of these key management personnel was £191,259 (2021: £79,052). The employee benefits of key management personnel for the group were £10,642 (2021: £4,743) consisting entirely of employer pension contributions. No remuneration was paid to Trustees or Directors in the year.

The Trustees are very grateful to the 16 volunteers that have supported the organisation through the year including those who have given their time to support the organisation.

Staff Numbers

Office Equipment

Cost
At 1 April 2021
Additions
Depreciation
At 1 April 2021
Depreciation charge
Net book values
At 1 April 2021
At 31 March 2022
Debtors
14
Accounts receivable
Other debtors
Prepayments and Accrued Income		 2022
£
671,026

93,885
60,750
825,661
 £
36,036
14,060
50,096
23,880
11,580
35,460
12,156
14,636
2021
£
498,571
-
44,798
543,369

The average monthly head count was 26 staff (2021: 21) and the average monthly number of full-time equivalent employees (including casual and part-time staff) during the year were as follows:

Trustee expenses
12
Fundraising
Programmes
Governance		 2022
2021
3
3
19
14
2
1
24
18

£635,800 (2021: £486,200) of accounts receivable are for carbon offset credits for the period to March 2022. Of the above accounts receivable balance of £671,026, none of this is still outstanding at the date of approval of the financial statements.

The Charity’s trustees were not paid during the year and no Charity trustees received any emolument or payment for professional or other services (2021: £Nil). The Charity’s trustees were reimbursed for the following expenses incurred in providing their services.

2022 Number of 2021 Number of £ Trustees £ Trustees Travel, accommodation & - subsistence expenses

44 Notes to the accounts

Notes to the accounts 45

15 Cash in bank and in hand

18

Holiday pay accrual

Restricted cash and bank balances
Designated cash and bank balances
Unrestricted cash and bank balances		 2022
£
1,516,652

121,689
240,780
1,879,121
 2021
£
362,340
-
157,585
519,925

At the year-end unrestricted cash reserves, excluding Designated cash balance, equivalent to four months’ operating expenses were held. These were free reserves not including other restricted funds held or fixed assets.

16 Creditors: amounts due within one year

Social security and other employment taxes
Trade creditors
Accruals		 2022
£
11,295
1,625,518

17,673
1,654,486
 2021
£
11,847
267,731
26,328
305,906

The total accrual for holidays not taken was as follows:

2022 2021
£ £
10,128 16,223

Holiday pay accrual

Movement in funds

19

Funds
brought forward
Transfers
Net movement in funds
Funds carried forward		 Restricted
£
Designated
£
Unrestricted
£
612,682
-
156,862

1,659 139,105 (140,764)
51,867 (17,416) 260,937

666,208
121,689
277,035
 2022
£
769,544
-
295,388
1,064,932		 2021
£
465,478
-
304,066
769,544

20 Analysis of charitable funds

Analysis of movements in unrestricted funds

----- Start of picture text -----
17 Pension contributions
----- End of picture text -----

Contributions to the scheme are charged to the Statement of Financial Activities as they become due. The total contributions in the year were as follows:


contributions in the year were as follows:
2022 2021
£ £
Pension contributions (defned contribution scheme) 38,624 32,433
Balance at Incoming Resources Transfers Funds
1 April 2021 resources expended 31 March
2022
£ £ £ £ £
General fund 156,862 833,751 (572,814)
 (140,764) 277,035
Designated fund - - (17,416)
 139,105 121,689

Name of unrestricted Description, nature and purposes of the fund

£423 pension contributions remained unpaid at 31 March 2022 (2021: £3,573). None of this is still outstanding at the date of approval of the financial statements.

General fund

Designated Fund

The ‘free reserves’ after allowing for all designated funds.

Renewable World Carbon Offset Project which is an investment in developing a RW funded improved cookstove project addressing SDG 7.

46 Notes to the accounts

Notes to the accounts 47

Analysis of movements in restricted fund

Balance at
1 April
2021
Incoming
resources
Resources
expended
£
£
£
Solar MUS 3
SECURE
Early Warning
System along
Bheri River
Energy4Health
Energy4Health Kenya
ENRICH
REALIZE
TREATS
UREKA
Y4WASH
Energy Hubs Plus
Carbon Offset
Total Restricted
26,335 13,498 (41,492)

4,403
-
(4,403)
-
22,335
(10,200)
67,404
15,619
(63,909)
45,209
40,484
(52,297)
109,379 229,578
(148,259)
86,232 115,140 (99,956)
93,176
74,202
(85,198)
-
118,766
(1,497)
25,972
-
(25,972)
154,572 1,952,380 (2,006,952)
612,682
2,592,002
(2,540,135)
- 10,000
-		 Transfers
Balance at
31 March
2022
£
£
1,659
-
-
-
-
12,135
-
19,114
-
33,396
-
190,698
-
101,416
-
82,180
-
117,269
-
-
-
100,000
1,659
666,208
-
10,000

Name of restricted fund

Solar MUS 3

SECURE

Early warning system along Bheri River

Clean Energy for Health

Clean Energy for Health, Kenya

ENRICH REALIZE

TREATS

Description, nature and purposes of the fund

Installation of six community owned solar powered water pumps and agricultural and WASH training across eight communities in Nepal.

A project piloting solar energy access in five health posts and a flood warning system in Surkhet District, Nepal.

This project aims to improve the disaster response capacity of families in four high flood risk communities along the banks of the Bheri River in Surkhet District, Nepal, through the installation of solar powered early warning systems and the delivery of disaster response training. This project builds on our SECURE project (2019 -2021) where this technology was pilot tested.

Ten poor, off-grid communities in Surkhet District, Nepal will receive solar powered energy systems at local health centres enabling them to refrigerate vaccines and medicines and use energy-reliant equipment. Further, community members will be trained to construct and install Improved Cookstoves in households, supported by awareness raising to ensure uptake of new services.

This project will deliver stand-alone solar energy systems to four public health units in Kajiado County, Kenya, which will provide lighting, power medical equipment and enable the health units to run fridges to store vaccines and medicine. Access to energy will allow the health units to offer a wider range of services and provide improved medical care to over 25,000 people.

ENRICH seeks to improve food security and increase incomes through the development of a new, self-sustaining market in Bag Digesters, biogas and organic fertiliser in 12 communities in Surkhet and Banke districts, Nepal.

This project enables people living in northern Bardia and Banke National Park buffer zones, Nepal, to generate a sustainable, renewable-energy enhanced income, conserve the fragile forest landscape in which they live, and gain a louder voice in buffer zone decision-making.

This project aims to improve access to secondary level education for students across eleven schools, with a focus on girls and children with disabilities, in Gulmi District, Nepal, by improving water access, toilet and sanitation facilities, and hygiene resources and knowledge.

48 Notes to the accounts

Notes to the accounts 49

UREKA

Y4WASH

Energy Hubs Plus

Carbon Offset

UREKA aims to improve food security and income generation in four of the poorest and hardest to reach communities in Achham, Nepal. This will be achieved by the provision of solar water pumping, training on climate-smart agricultural techniques to produce high value and nutritious crops and supporting agricultural value chains. Training in safe water use and good hygiene practices will also be provided.

Y4WASH aims to improve access to water for 2,400 people and will reach a further 11,400 people through awareness raising and education on sanitation and hygiene. Working through young people, we will provide solar water-pumping solutions for six remote hilltop communities in Nepal and drive the adoption of safe WASH practices.

Optimisation of solar installations through additional connections and enterprise development training and support to reach more people at our existing Kenyan energy hub sites along the shores of Lake Victoria.

Funds where donations equivalent to carbon emissions of corporate supporters are offset to accredited clean energy projects.

22 Reconciliation of net movement in funds to net cash flow from operating activities

Reconciliation of net movement in funds to net c
from operating activities
22		 ash fow
Net movement in funds
Add back depreciation charge
Deduct interest income shown in investing activities
Decrease (increase) in debtors
Increase (decrease) in creditors
Net cash used in operating activities		 2022
£
295,390
11,580
(1,715)
(282,293)
1,348,579
1,371,541		 2021
£
304,066
7,401
(1,992)
(332,723)
138,925
115,677

23 Commitments and contingencies

Capital commitments

The Charity had no capital commitments at the balance sheet data (2021: £Nil). The Charity has no partner funding commitments (2021: £Nil).

21 Analysis of movement of net assets between funds

Renewable World had no forward contracts with Global Reach Partners at the year-end (2021: £19,765 Kenyan Schillings contract)

Contingencies

2022
£
Restricted
£
Designated
£
Unrestricted
£
Tangible fxed assets
Current assets
Creditors due
within one year
-
-
14,636
14,636
2,289,038
121,689
294,0552,704,782
(1,622,830)
- (31,656) (1,654,486)

666,208
121,689
277,035
(1,064,932)		 2021
£
12,156
1,063,294
(305,906)
769,544

From time to time, the Charity can be involved in other claims and legal actions which arise in the normal course of business. Based on information currently available to the Charity and legal advice, there were no open claims or legal activities at the balance sheet date.

24 Taxation and charitable status

The Charity is exempt from corporation tax as all of its income is charitable and is applied for charitable purposes.

25 Approval of financial statements

The financial statements were approved by the directors on 6th September 2022.

50 Notes to the accounts

Notes to the accounts 51

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Renewable World 1st & 2nd Floor Offices 161 Edward Street Brighton BN2 0JB t: + 44 (0) 1273 076050 e: getintouch@renewable-world.org

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Renewable World Chakupat -11 Lalitpur Nepal

t: +977 985 1247334, +977 985 1247337 e: getintouch@renewable-world.org

Renewable World is a registered charity (number 1119467) and registered company (number 06005778) in England and Wales. Registered Office: 1st & 2nd Floor Offices, 161 Edward Street, Brighton BN2 0JB

Kenya Office

Renewable World Branch opened January 2022, no office currently e: getintouch@renewable-world.org

Renewable World would like to thank DesignKind for their support in the production of this Annual Review and Accounts. Photo Credits: Renewable World Team