OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Renewable World

2024-03-31-accounts

Renew WorL Translorming&ive Through Clean Annual Report and Accounts

Contents 03

Meet our leadership team

Eamon Cassidy Shoumo Kanjilal Al Richardson Chief Executive Officer, UK Director of Finance and Global Programmes Director, UK Operations, UK

Peris Gathogo Thakur Thapa Country Director, Kenya Country Director, Nepal

Matt Whitehead Director of Fundraising and Communications, UK

Contents

----- Start of picture text -----
|||| |---|---|---| |Message from the Chair and CEO|04| |We are Renewable World|06| |What we do|08| |Our impact|10| |Energy for livelihoods|14| |Energy for climate|18| |Energy for health and education|22| |Energy for catalytic change|26| |Our projects|30| |i|a|ad| |Our funders / Our delivery partners|31| |Trustees’ report and financial statements|34| |Reference and administration details|36| |Financial review|37| |Statement of trustees’ responsibilities|40| |Independent auditors’ report to the Members of Renewable World|41| |Statement of financial activities|46|

----- End of picture text -----

04 Annual Report & Accounts 2023-24

Message from the Chair and the CEO 05

Message from the Chair and the CEO

The growing frequency of extreme weather events means that the impact of climate change has never been clearer. What is often less obvious is that climate change has a disproportionate impact on those who did least to cause it ‒ the people across the world trapped in poverty in part because they have little or no access to energy.

This is why Renewable World exists. Since we were established in 2007, we have worked to enable people living in poverty – especially those in rural, off-grid, communities – 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.

Our Energy for Health projects in Nepal and Kenya have now benefited over 70,000 people by improving access to healthcare.

We are delighted to introduce Renewable World’s Annual Report for 2023/24, a year that saw us launch our current strategy, Powering people and planet through clean energy, and expand our work and our impact in Nepal and Kenya. Our annual accounts show that our finances remain strong and that we are well placed to continue to expand our life-changing work.

We are proud to report that we reached nearly 40,000 people in 2023/24, bringing the total number of people reached by Renewable World to more than 140,000 and putting us firmly on the path to meet the target set in our strategy of catalysing change for 200,000 people by 2026.

We are strongly committed to learning, adapting, and innovating across all our work, and we are pleased to have launched several new ground-breaking projects in 2023/24

Our Energy for Health projects in Nepal and Kenya have now benefited over 70,000 people by improving access to healthcare. In 2023/24 alone, we partnered with local government agencies to bring clean solarpowered energy to eight health centres serving over 16,000 people, and we provided access to safe and clean water for 6,000 people. We are strongly committed to learning, adapting, and innovating across all our work, and we are pleased to have launched several new ground-breaking projects in 2023/24 in Nepal and Kenya that build on the lessons of previous programmes and draw on the latest thinking in our sector.

None of this would be possible without the continued engagement and participation of the communities with which we work, our government and NGO partners in Nepal and Kenya, our committed and talented team at Renewable World and, of course, all the individual donors, philanthropic foundations, companies and government organisations who continue to fund our work.

We believe that our projects have the power to change people’s lives for the better and we know that this wouldn’t be possible without the support of our funders, our partners, and our people, and we are hugely grateful to everyone who has shared our vision and played a part in delivering it.

Finally, we would like to pay tribute to one person in particular, Simon Boas, who served as Executive Director of the Jersey Overseas Aid Commission (JOA) for eight years and who sadly passed away in July 2024. Simon was a great friend to Renewable World and support from JOA has been genuinely transformational for our work and our impact. Simon will be greatly missed by all who knew him.

Chris Morgan Chair

Eamon Cassidy CEO

We are Renewable World 1.2 billion people are still living in poverty, inequality is rising, and the world is failing to decarbonise quickly enough to avoid climate disaster. The world’s poorest people contributed While a range of energy sources support little to climate change, yet they are most efforts to eliminate poverty in developing impacted, and least able to adapt. This is countries, clean energy is a prerequisite for not fair. And it is not sustainable. sustainable livelihoods that are in harmony with the environment, for tackling climate change, and for enhancing welfare. Without it we won’t make the breakthroughs needed by people and the planet by 2030.

We are Renewable World. We demand a sustainable and fairer world where clean a as By 2026 we’ll empower over 200,000 people to transform their lives through clean, : ee == 7 _ a _ energy is accessible to all ‒ because with affordable, and reliable energy. And we’ll clean energy, both people and planet be on track to transform the lives of over can thrive. 500,000 people by 2030.

It is our mission is to enable people living in poverty – especially those living in rural, off-grid communities ‒ 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.

We are pleased to present our Annual Report for 2023-24.

We know this can be achieved by working in partnership, piloting innovation, and delivering systemic locally led projects. And we won’t rest until it is done.

What we do / Our focus areas / Where we work 09

08 Annual Report & Accounts 2023-24

What we do

We test and install innovative and locally sourced renewable technologies to provide the energy that communities need.

As clean energy experts, we work with partners to deliver transformative change by improving people’s access to clean energy and empowering them through training, knowledge sharing and making connections. It’s about making sure communities can tap into established technology and harness it effectively, to meet their needs.

We aim to achieve catalytic impact that is sustainable and scalable, bringing multiple benefits for people and planet that begin with the availability of clean energy.

We concentrate our efforts on United Nations Sustainable Development Goal (SDG) Seven (SDG7), Affordable and Clean Energy, and maximising our impact through eliminating poverty (SDG 1) and combating climate change and its impacts (SDG13). Under our four focus areas, we also directly work on SDGs 4, 5, 6, 8, 11 and help enable many others.

A more sustainable and fairer world

By taking a systemic approach, our projects aim to address the root causes of the problems faced by the people we support. Activities are mutually reinforcing, and they often cover more than one thematic focus area.

----- Start of picture text -----
r
e
n
E
d
a
a
Po
r s
a
m
i
e E
y
E
t
d
d
n
n
v
e t
t i e
i
o
d
a
q c
e
u
a
e
l
t
i
d
C
C
l
l
n
n u o
N
a
r
c C A
l
k
b
a
S
t
d
e a n
a
e
e
c
W
r
u
1
3
a
y
l
t
a l
o
t
G
a
i o
i
C
1
d
Q i
b
t
n n
o
n
m
o
r
W
o
5
i
y
a a
4 n
t
i
o
n
E
a n m
t c
e
ff
i
n
l t
n
i a m
G
A
C
e
e
o t
r
r
s u
c
7
6 n
o
g
u n
e
y
w
S i
D
t
t
1 ei
8 h
1 s
----- End of picture text -----

Our focus areas

We focus our work on four inter-connected areas where we believe we can achieve the greatest impact in transforming lives and tackling climate change through clean energy.

----- Start of picture text -----
Energy for catalytic change Energy for livelihoods
Catalysing systemic change through Improving incomes and welfare
piloting scalable innovations, by using energy for productive
unlocking investment in clean purposes, with a focus on
energy, and working through reaching the poorest and
sustainable partnerships. empowering women and the
socially excluded.
Energy for health Energy for climate
and education
Helping people adapt to
Using clean energy to supply climate change and protect
clean water for drinking, health, ecosystems through clean
and sanitation, electrifying remote energy enabled climate-smart
health centres and schools to improve agriculture and early warning
health and education outcomes, systems, and mitigating climate
and enabling cleaner cooking. change through clean energy.
t
L
o
e
t
t
h
a r
l
r i
a
s m
f
a
C
v
l
o
a
y
y C
i
y
e
e
li
c
n
r
s
f
t g
li
d
H
i
y
o
d
p
c r m
e
h
r
g
W
e
r
n
f
E
o
a
l
r o
y C n
o
o o
y j
t
d
e
e
o
g
r
h E e
ti
f
ll
u
c
k
n
r
d
a
y
a
a
i
t
c
e
E
v
s
c
n
s
g
n
a
o
n
o
g
r
g
t
n i
L
E
e i
e
n n
n o
I
n
P
E
toing artn
Pil ers
pih
----- End of picture text -----

Where we work

In Kenya and Nepal, 25 million people are multi-dimensionally poor. Over 21 million people here lack access to energy. Even where they are connected to the grid, supply is often unaffordable and unreliable. Both Kenya and Nepal are highly vulnerable to climate shocks.

We are collaborating in both Kenya and Nepal to enable people in poverty to transform their lives through clean energy.

10 Annual Report & Accounts 2023-24

Our impact Clean energy powering people and planet since 2007

To date:

39,809 983 8 people with increased income health centres electrified, serving 19,270 people were new : 6,167 at least 16,462 people 11 people with a safe and reliable he oe te 4 ea ae a on he AL 67 SRN a eae ae ele solar-powered water supply women supported to take up positions within community or 403 district governance bodies 1,858

Energy for Energy for health climate and education 1,233 people 73,191 people are implementing climate smart have benefitted by having access to agriculture which both mitigates and healthcare powered by clean energy adapts to climate change and 23,021 people have improved access to safe drinking water.

Energy for catalytic change

We have catalysed change for

143,108 people

Energy for livelihoods

Our programmes have ensured improved access to clean energy for use with their livelihoods by 69,907 people

',1 wIwMw/// "t 4"pAI•A.A Y., r•. 11;

14 Annual Report & Accounts 2023-24

Energy for livelihoods 15

Energy for livelihoods

CASE STUDY

This year

1,858

people with improved access to energy for productive use

6,167

people with a safe and reliable solar-powered water supply

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

Access to clean, affordable, and reliable energy is essential for improving livelihoods and sustainable economic growth. We enable people living in poverty to set up new businesses, improve existing ones, and sell their products and services at a fair price. Harnessing people’s ideas and passion, whilst offering skills building and increasing market knowledge, can enable budding enterprises to flourish. In this way they are able transform their lives through increased incomes, and financial resilience made possible through the productive use of clean energy.

Improving food security and incomes

A lack of water for irrigation and the ability to store and preserve agricultural produce in the hilly communities of Achham (northwest Nepal) has led to low incomes and food insecurity. Our Using Renewable Energy to Kickstart Agriculture in Achham (UREKA) project has helped 3,842 people increase their produce and income. Four water-lifting solar multiple use systems (Solar MUS) were installed giving farming households access to irrigation even in the dry season. By working in partnership, the local Government was able to contribute 46% of the equipment costs, allowing our project to reach more people with the funding and linking these communities into Government plans. The strengthening of community Water User Committees (WUCs) around financial literacy, governance, and equipment maintenance has led to equitable, effective, and efficient community-led water management.

We do this through:

UREKA improved locally

We built the capacity of agricultural co-operatives, implemented field farmers schools, and trained ‘Lead Farmers’ who subsequently shared their knowledge with other farmers and households in the wider community. Solar-powered cold rooms, agro-processing units, and community seed banks were established to enable improved storage for the communities’ produce, and to provide the infrastructure on which farmers and their communities can rely for years to come.

We work to understand the link between conservation and the livelihoods of people living in conservation areas to produce a win-win for nature and for people. Our Renewable Energy Access for Livelihoods in Fragile Buffer Zones (REALIZE) project sought to enable 8,378 poor people living in and around Nepal’s Banke and Bardiya National Parks to generate a sustainable, clean-energyenhanced income. Through it, we have helped to conserve the fragile forest landscape and introduced methods to protect crops and livestock from wild animals within the parks. REALIZE facilitated the communities and the National Parks to develop operational plans for the area which give the communities more control over forest resources for livelihoods and a greater voice in local decisionmaking, while strengthening conservation efforts and forest management.

Cultivating success

UREKA trained and supported 22 ‘Lead Farmers’ like Mrs Pashupati Buda (seen here, harvesting tomatoes in her polyhouse). With enhanced understanding of commercial agricultural practices and clean energyenabled water for irrigation and crop storage, four in five Lead Farmers doubled their agricultural production. Nine in ten households established or expanded their kitchen gardens.

“ I now have access to clean drinking water right at home. With the convenience of a tap installed, I've transformed my kitchen garden, cultivating green vegetables. This not only saves me valuable time but also enriches our meals with variety and nutrition.”

UREKA community member, Panchadewal Binayak Municipality

Energy for livelihoods 17

Innovative livelihood approaches

CASE STUDY ‘ ans 4 a SRL Solar powered local livelihoods ~~ae:~~ Here in Sadhane, our REALIZE project has powered a step change in local livelihoods. Sadhane’s terrain and soil are ideally suited to the cultivation of turmeric and ginger. Unable to reliably dry and store their product however, farmers here were unable to take advantage of the best market prices. Instead, produce was often sold cheaply or left to rot.

With the introduction of our Solar MUS water system in the community, and a solar powered dryer and mill, this situation changed beyond recognition. Sadhane’s farmers can now grow and preserve a full harvest, store it for longer, mill their produce cheaply (not only ginger and turmeric, but also wheat, maize, rice and other grains), and sell only when the market price is high, increasing sustainable income for Sadhane and its neighbouring communities.

i 5 ap” ors $ ey,

We are building on the successes and learnings of our livelihoods projects and incorporating new innovative approaches. One approach is to develop market systems. Building on a ten-year track record of solar energy provision to more than 11,000 people in fishing communities across Lake Victoria in Kenya, this year we launched an innovative new project that seeks to improve the affordability and sustainability of produce for communities in Homa Bay. Our Renewable Energy to Transform Fishing Livelihoods (E4ICE) project is working with the private sector to establish an ice-making machine so fisherfolk can buy ice at an affordable price to store their fish. This will mean that the fish lasts longer, enabling fisherfolk to sell for a higher price.

E4ICE tackles environmental degradation through the promotion of sustainable fishing and postharvest management techniques to tackle overfishing, whilst mitigating against further climate change through the introduction of clean technologies. In addition to the provision of clean ice, clean water will be produced and sold at an affordable rate, increasing household’s ability to access safe, reliable water.

18 Annual Report & Accounts 2023-24

Energy for climate 19

Energy for climate

This year

941

people now implementing climate-smart agriculture

10,145 people continue to use early warning systems installed

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

Clean energy is critical for both mitigating climate change and enabling climate adaptation. Applying a systems approach, our projects:

Climate change mitigation and adaptation

Our projects are taking an integrated approach to climatesmart agriculture using:

produce a second crop in the year in the dry season, but to also deal with the increased water need of crops due to climate change.

Solar-powered equipment already helps mitigate climate change as harmful gases are not being produced. We will take this further in the coming years by expanding clean energy transport for communities and their produce as well as reducing emissions

from cooking by the increased use of either biodigesters or e-cookstoves.

Climate change and conservation

Our REALIZE project installed water lifting Solar MUS systems enabling communities to access water, and to replenish ponds in the Nepal’s Banke and Bardiya National Parks for wildlife.

Swamp deer – a key prey species for tigers – in Nepal’s Shuklaphanta National Park. Our CONNECT and CLASS projects are helping to conserve some of Nepal’s most important ecosystems and endangered species.

Our projects consider both climate change mitigation (reducing the emission of harmful gases which cause temperature rise) and adaptation (helping communities adapt to climate change which is happening). Water availability is negatively affected by climate change. This year, we have supported communities across Nepal to access water which has been key to not only help them

20 Annual Report & Accounts 2023-24

Energy for climate 21

CASE STUDY

Without this access, wildlife encroaches on farmland in search of water. We are working with local authorities to develop and run a curriculum which covers climate change, renewable energy, and conservation.

This year major new projects which expand on our work at the nexus point where livelihoods and conservation meet got underway in Nepal.

Launched in October 2023, the Connecting Communities and Ecosystems (CONNECT) takes a systems approach to breaking a vicious cycle of ecosystem-livelihood conflict affecting communities in the buffer zone surrounding Nepal’s Shuklaphanta National Park.

CONNECT is working to conserve some of Nepal’s most important ecosystems and endangered species. It will empower over 7,000 people living in poverty on the periphery of the park to develop sustainable enterprises in harmony with their environment and local markets. It recognises that interconnected challenges require systemic solutions. CONNECT works to strengthen biodiversity conservation, alleviate multi-dimensional poverty, and build and communicate interdisciplinary knowledge. Over its four-year duration, it will improve buffer zone community livelihoods, underpinned by systemic improvement in the region’s capacity for integrated conservation and development.

Underway as of February 2024, our new Piloting Clean Energy Approaches to Improve Livelihoods, Conservation, Safety, and Sustainability in the Buffer Zone of Banke National Park (CLASS) project will support communities and other stakeholders in and around the National Park seeking to balance the pursuit of economic prosperity whilst overcoming the effects of climate change and human-wildlife conflict. It will address challenges facing this interconnected ecosystem comprising the core protected area of the park, the inner ring of community forest, and the outer ring of settlements. This is a great opportunity to test a package of recently piloted technologies, such as bag biodigesters, and to adapt proven technologies, such as solar powered water lifts, in a new context. As a result, over 1,650 people living around the periphery of the park will experience an improved quality of life, a cleaner environment, and improved personal and livelihood safety from wildlife.

Early warning systems

Due to climate change, flooding in areas across the world has increased. It is increasingly important, therefore, that communities have timely warning of potential flooding. This year we followed up on early warning systems work concluded in previous years in Nepal. We heard from communities that the early warning systems we have installed are playing a vital role in saving lives, possessions, and livelihoods.

----- Start of picture text -----
—
----- End of picture text -----

CLASS in class

Local students are taking part in the CLASS project, learning about environmental conservation, green school initiatives, waste management, and human-wildlife conflict. We are working with them to develop Eco-Clubs and to support Green School Champions who will help drive local action in and out of school which supports the local environment and helps conserve one of Nepal’s most beautiful and important protected areas.

Discussion with students on National Conservation Day.

22 Annual Report & Accounts 2023-24

Energy for health and education 23

Energy for health and education

CASE STUDY

This year

8

health centres electrified, serving at least 16,462 people

6,167

people now have access to clean water for drinking and washing

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

Access to electricity saves lives and creates better futures. Electricity is essential for delivering health services 24 hours a day, in powering critical health equipment, and storing medicines and vaccines. It is also critical for 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 hygiene and sanitation for school children and those visiting health centres.

Electrifying remote health facilities

This year we continued to expand our work utilising clean energy technologies as a foundation for 24/7 healthcare provision in some of Kenya and Nepal’s most marginalised communities. Further programming improved access to energy-enabled health services and to safe water for drinking and washing at home and in schools.

A girl collects water made safe by a bio-sand filter in Gulmidarbar, Nepal (TREATS project)

Our Clean Energy for Health Phase 3 (Nepal; E4H3) project in Nepal provided four rural health clinics with solar power systems as well as equipment within the clinics such as lamps, baby warmers, and vaccine cool boxes. These interventions ensure that people are more able and willing to attend the clinics. Women can now give birth there outside of daylight hours. And the presence of clean-energy charged fridges and cool-boxes means that vaccines can now be stored correctly and remain effective and are therefore now being given in communities previously seen as being too far to reach before vaccines became unviable. It is key to engage with the community about the benefits of the services at the clinic to boost the use of them and are acting on this in our new E4H projects.

And in Kenya’s Kajiado County, our Clean Energy for Health 2 (Kenya; E4H2) project launched in January. E4H2 will help enable increased uptake of 24/7 healthcare in seven facilities and among over 28,000 people who rely on them. It will provide the solar power systems needed to electrify the health facilities, promote their services in the local communities, and support staff and stakeholders to manage facilities and their technologies for the future.

Keeping medicines effective, longer

To remain effective, medicines and vaccines must be stored at the correct temperatures. Without a reliable source of electricity, the refrigeration of medicines and vaccines becomes impossible, rendering them ineffective and placing lives at risk. As a nurse at Kajiado’s Oldonyo Lasho health facility told us: “I store my vaccines in a nearby church because the health facility has no electricity. Sometimes I have to administer the vaccines from there so that the quality is not affected.”

At the Olorika health facility, nurse Anthony dispenses medicine at the facility’s pharmacy room. With solar power arriving through our E4H2 project in Kajiado, soon this facility and six more like it will have a reliable source of clean electricity around the clock. Medicines and vaccines will be able to be stored and kept effective. Health staff will be able to provide services day and night. For the communities that rely on these facilities, these improvements will change, and sometimes save, lives.

Energy for education

Clean energy provides lighting to enable learning in the classroom. But it also powers systems which bring safe water to schools and communities, helping improve the health of children and staff while in school. Our Transforming Education through Energy Access and Simple Sustainable Solutions (TREATS) project in Nepal has nearly halved instances of waterborne diseases such as diarrhoea, cholera, and dysentery.

Concluded in December 2023, TREATS addressed water scarcity and inadequate sanitation and hygiene facilities that resulted in low school attendance, high school dropout, and especially girls’ absence in 11 schools and their communities in Nepal’s Gulmi District.

School attendance has increased among both girls and boys. During their periods, girls were often kept back at home but with the provision of new safe water, sanitation, and hygiene (WASH) facilities they are now able to remain in school.

It is important not only to provide safe water equipment but to also engage and support communities and children as agents of change in encouraging healthy behaviour. Ensuring water user committees are trained on simple maintenance, and that this is included in school and district government plans, is vital and effective in ensuring sustained change.

& B," CASE STUDY O— OM 0 ~~ w ~~ee mer eee eer~~ Kah wz . Water for change

6,167 people have accessed safe water for drinking and washing through our projects this year.

} Previously, communities’ alternatives have been a hk Mes " oo 3 either the use of unclean/ unsafe water, or to walk for osZe oe‘ aed ,/ ia several hours downhill to the nearest source and carry ; the water uphill back home. This is hard work and takes several hours. As women are often responsible for doing this in communities, providing safe water to — 4 ™“ %- the home significantly reduces the burden on women, enabling them to spend more time for livelihood activities, caring for children, or benefitting from relaxation and social time with others.

;

Energy for catalytic change 27

26 Annual Report & Accounts 2023-24 Energy for catalytic change Catalysing systemic change through piloting scalable innovations, unlocking investment in clean energy, and working through sustainable partnerships.

In everything that we do, we apply systems thinking and locally led design, so that our projects address the right problems, are innovative, and deliver sustainable and scalable impact. We seek to influence institutional and societal norms that lock people into poverty, including

through empowering women and marginalised groups by involving them in project design and governance. We call this catalytic change, and we achieve it through piloting scalable innovation, unlocking investment, and sustainable partnerships.

6 innovative and effective partnerships

We have catalysed change for an additional

19,270 people

Piloting innovation through new partnerships

This year we have developed new partnerships for programming that are effective and will deliver sustained impact. We are working in partnership with the private sector. The Renewable Energy to Transform Fishing Livelihoods (E4ICE) project in Kenya is an example where, in collaboration with Adili Solar Hubs, we are installing ice-making and drinking water machines. The equipment will be owned and maintained by the private sector and so the sale of ice and water will provide them with increased revenue to scale the approach up in other communities. It enables communities to buy ice and water at a lower price than at other outlets and reduces travel time and costs. Over the year we have explored more potential partnerships and are looking to start more projects with private sector partners in the coming year.

We are now implementing several projects in partnership with institutions and authorities. Our new CLASS project works with the Cavar Valley Lions Park authority to ensure conservation benefits as well as sustainable livelihood opportunities for local communities. And our CONNECT project works in partnership with the Zoological Society of London (ZSL) as well as the Shuklaphanta National Park authority to conserve some of Nepal’s most important ecosystems and endangered species.

CASE STUDY

Influencing systems change

Effective partnerships for influencing are also key to bring about systems change.

This year we held a national level clean energy transition event in Nepal. This included the Minister for Energy, Mr Shakti Bahadur Basnet, as well as representatives from the private sector, NGOs, media, donors, and research organisations. The event generated discussions and next steps for improved multi-partner and multi-sector collaboration to achieve a significant move forward in the use of clean energy for development in Nepal.

'/Jlii .A l)jDJ)I I,'Ilh:4 Il

Our Projects / Our funders / Our delivery partners 31

30 Annual Report & Accounts 2023-24

Our projects

The table below shows our 2023-24 programme, our target reach and project completion dates

Enriching Agriculture using
Bag Digesters (ENRICH)		 3,300
~~Pf~~		 Apr 2020
~~Pf~~		 Sep 2023
Renewable Energy Access
for Livelihoods in fragile Buffer
Zones Nepal (REALIZE)		 8,378
~~Pf~~
~~pf~~		 Jul 2020
~~Pf~~
~~pf~~		 Jun 2024
Using Renewable Energy to
Kickstart Agriculture (UREKA)		 2,895
~~pf~~		 Oct 2020
~~pf~~		 Dec 2023
Transforming Education via
Energy Access and Simple
Sustainable Solutions
(TREATS)		 3,312
~~a~~		 Jan 2021
~~a~~		 Dec 2023
Clean Energy for Water,
Sanitation and Hygiene
(E4WASH)
~~		 ~~ 1,601
~~a~~
~~
Clean Energy for Health
Phase 3 (E4H3)
~~		 ~~ 10,155
~~
Connecting Communities and
Ecosystems in Shuklaphanta
(CONNECT)
~~		 ~~ 13,051
~~
Piloting Clean Energy
Approaches to Improve
Livelihoods, Conservation,
Safety and Sustainability in
the Buffer Zone of Banke
National Park (CLASS)		 1,650 Feb 2024 Apr 2025

Our funders

We thank our funders for providing us with the means to transform lives through clean energy. In 2023-24 our funders included:

Our delivery partners

We thank the following organisations for partnering with us to transform lives through clean energy: y; N

wit te @%

Trustees’ report and financial statements 35

34 Annual Report & Accounts 2023-24

Trustees’ report and financial statements

Governance, administration, and management

Renewable World is a charitable company limited by guarantee registered with the Charity Commission since 4 June 2007. 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 2024. 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 2019).

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, considering 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.

2023-24 Trustees and

secretariat

The organisation has at least four, but no more than twelve trustees. At the end of 2023-24, Renewable World had 12 trustees:

The Company Secretary is Shoumo Kanjilal, appointed 8th January 2024, replacing Janaki Jayasuriya, who resigned 21 January 2024. Eamon Cassidy was appointed CEO on 1 August 2023, replacing Phil Brown, who resigned 2 June 2023.

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 13 to the accounts.

Committees

The Board conducted a review of the Committees over the year and there are now five active committees of the board which are chaired by a designated trustee, with participation from at least three members of the board and relevant senior managers.

The committees are:

• The Programme Committee which oversees programme delivery, including impact, finance, risk, and future pipeline. It met four times in 2023-24.

• The Fundraising and Communications Committee oversees fundraising strategy, income performance, and communications. It met four times in 2023-24.

• 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 three times in 2023-24.

36 Annual Report & Accounts 2023-24

Financial review 37

Reference and administration details

Company number 06005778

Public benefit test

Objectives and activities

Our activities, achievements, and the difference we have made, are summarised in the 2023-24 Annual Report (of which this forms a part).

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

Charity number 1119467

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

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.

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

Bankers

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

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

Auditors

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

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.

Financial review

Financial position at year end

The results for the year and Renewable World’s financial position at the end of the year are shown in the financial statements below. Net incoming resources for the year are £33,318 compared with £147,326 in 2022-23. Restricted income is £2,168,121, compared to £1,249,601 in 2022-23. Unrestricted income is £243,405 compared to £627,199 in 2022-23, with the difference mostly owing to the carbon offsetting margin being treated as a transfer from restricted funds rather than directly being unrestricted funding in 2023-24. Total income has increased from £1,876,800 at the end of 2022-23 to £2,411,526 in 2023-24. This is due to a change in the portfolio with an increasing proportion of restricted longterm funding.

Similarly, total expenditure has increased from £1,703,973 at the end of 2022-23 to £2,349,797 in 2023-24 and this is directly related to the increased income explained above. The proportion of expenditure on charitable activities is 96% (2022-23: 90%) whilst fundraising and governance costs are 4%.

Our Nepal and Kenya programmes are supported by an average fulltime equivalent global staff team of 27 (2022-23; 29) and delivered by 15 local partners (2022-23: 13).

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 £230,000 at the end of 2023-24.

Reserves held

Unrestricted reserves held at the end of the financial year were £577,531 (2022-23: £386,875); and restricted reserves were £668,045 (2022-23: £825,383). With the continuing financial challenges facing the third sector, these reserves place Renewable World in a strong position to continue delivering its strategic plan ‘Powering people and planet through clean energy, 2023-2026’.

Fundraising

The changes in the UK’s mechanisms to support international development, the war in Ukraine, and the Middle East Crisis have contributed to what continues to be a challenging environment in which to fundraise. Partly due to a planned strategic shift in our portfolio resulting in a greater proportion of long-term restricted funding, we had a 14% decrease in voluntary income this year (£1.13m) in comparison with FY 2022-23 (£1.32m). Overall, we have maintained the support provided by our fantastic existing partners, and we are working to diversify Renewable World’s supporter base. Our supporters,

both those who are new to us and those who know us well, believe wholeheartedly that clean energy should be at the heart of systemic, sustainable, change. Our strategy – Powering people and planet through clean energy 2023-26 – is a platform for growth and new funding partnerships in service of new and innovative clean energy systems programming in Kenya, Nepal and beyond.

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.

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 as set out in our fundraising policies. Areas covered include current fundraising best practice, data protection and protecting vulnerable people.

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

38 Annual Report & Accounts 2023-24

Financial review 39

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:

• 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.

• 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 2024

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 each and every Board Meeting. On a quarterly basis, Board committees review specific risks in detail, and 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, Middle East 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, 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:

These steps ensure that

Disclosure of information to auditors

accountability and transparency is maintained. Grant renewal is always subject to performance, review, and planning.

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:

Going concern

As set out above as of 31 March are aware, that: 2024 the Charity had cash reserves of £569,855 (2023: £327,933), • there is no relevant audit more than three month’s operating information of which the charity’s expenses. These were free reserves auditors are unaware; and not including other restricted funds held or fixed assets. • we have taken all the steps we have taken all the steps

Through the monthly review of management accounts, the Finance, Audit, and Risk 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 from changes in the UK’s mechanisms to support international development, the war in Ukraine, and the Middle East Crisis 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

Chris Morgan Chair 27th November 2024

Catherine Adams Treasurer 27th November 2024

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

40 Annual Report & Accounts 2023-24

Independent auditors’ report to the Members of Renewable World 41

Statement of trustees’ responsibilities

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

The Trustees (who are also the directors of the Company for the purposes 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).

This report was approved by the Trustees on 27th November 2024 and signed on their behalf, by:

Chris Morgan Chair 27th November 2024

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

Catherine Adams Treasurer 27th November 2024

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent auditors’ report to the Members of Renewable World

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

Opinion

Basis for opinion

We have audited the financial statements of Renewable World (the ‘charitable company’) for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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).

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 Auditors’ 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 United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors’ 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 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.

In our opinion the financial statements:

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.

We have nothing to report in this regard.

42 Annual Report & Accounts 2023-24

Independent auditors’ report to the Members of Renewable World 43

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement, 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.

Auditors’ 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 Auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 consideredthe 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:

• 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

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

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 of the effectiveness of the charitable company’s internal control.

• 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 Auditors’ 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 Auditors’ report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.

44 Annual Report & Accounts 2023-24

----- Start of picture text -----
Statement of financial activities 045
----- End of picture text -----

• 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 members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditors’ 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Samantha Rouse FCCA DchA

for and on behalf of

Kreston Reeves LLP Chartered Accountants Statutory Auditor Canterbury

Date: 27th November 2024

Statement of financial activities 47

46 Annual Report & Accounts 2023-24

Statement of financial activities

Incorporating income and expenditure account for the year ended 31 March 2024.

Statement of financial activities (incorporating income and expenditure account) for the year ended 31 March 2024

Note
Income from:
Donations and legacies
2
Other trading activities
3
Investments
4
Total income
Expenditure on:
Raising funds
5
Charitable activities:
7
Total expenditure
Net income/(expenditure)
Transfers between funds
15
Net movement in funds before other
recognised gains/(losses)
Other recognised gains/(losses):
Other losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
Unrestricted
Total
Total
Funds
Funds
Funds
Funds
2024
2024
2024
2023
£
£
£
£
2,168,121
196,315
2,364,436
1,747,308
-
34,107
34,107
124,401
-
12,983
12,983
5,091
2,168,121
243,405
2,411,526
1,876,800
-
84,886
84,886
171,376
1,772,005
492,906
2,264,911
1,532,597
1,772,005
577,792
2,349,797
1,703,973
396,116
(334,387)
61,729
172,827
(553,454)
553,454
-
-
(157,338)
219,067
61,729
172,827
-
(28,411)
(28,411)
(25,501)
(157,338)
190,656
33,318
147,326
825,383
386,875
1,212,258
1,064,932
(157,338)
190,656
33,318
147,326
668,045
577,531
1,245,576
1,212,258

Registered number: 06005778 Balance sheet as at 31 March 2024

Registered number: 06005778
Balance sheet as at 31 March 2024
Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one year
14
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 2024
2023
£
£
4,850
5,773
4,850
5,773
68,808
300,787
1,252,207
1,002,629
1,321,015
1,303,416
(80,289)
(96,931)
1,240,726
1,206,485
1,245,576
1,212,258
1,245,576
1,212,258
668,045
825,383
577,531
386,875
1,245,576
1,212,258

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Christopher Morgan Catherine Adams (Chair of Trustees) (Treasurer) 27th November 2024 27th November 2024

The notes on pages 10 to 28 form part of these financial statements.

The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 10 to 28 form part of these financial statements.

Statement of financial activities 49

48 Annual Report & Accounts 2023-24

Statement of cash flows for the year ended 31 March 2024

Note
Cash fows from operating activities
Net cash used in operating activities
18
Cash fows from investing activities
Purchase of tangible fxed assets
Interest paid
Net cash provided by investing activities
Cash fows from fnancing activities
Net cash provided by fnancing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
19
The notes on pages 10 to 28 form part of these fnancial statements		 2024
2023
£
£
243,058
(879,954)
(6,463)
(1,629)
12,983
5,091
6,520
3,462
-
-
249,578
(876,492)
1,002,629
1,879,121
1,252,207
1,002,629

Notes to the financial statements for the year ended 31 March 2024

No permanent endowments have been

1. Accounting policies

received in the period, but these are dealt with through the statement of financial activities when received.

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

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

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

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.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

1.2 Income

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.

Where income is in return for a good or service, it’s treated as non primary purpose trading. The income in 2023/2024 is within the small scale exemption from corporation tax as detailed by HMRC.

Where the Charity receives grants to further its 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.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity’s objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

1.4 Foreign exchange gains and losses

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of financial activities.

1.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight line method.

Depreciation is provided on the following bases:

Fixtures and fittings 3 years straight line basis

Computer equipment 3 years straight line basis

Statement of financial activities 51

50 Annual Report & Accounts 2023-24

Notes to the financial statements for the year ended 31 March 2024

1.9 Financial instruments

1.6 Debtors

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account

1.10 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

1.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

1.11 Fund accounting

Unrestricted funds are general funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

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).

Investment income, gains and losses are allocated to the appropriate fund.

2. Income from donations and legacies

Octopus Energy
Jersey Overseas Aid (JOA)
Bentley Environmental Foundation
EKOenergy
David & Ruth Lewis Family Charitable Trust
States of Guernsey (GOAC)
Rotork
Unica Foundation
The Happold Foundation
Beazley
Stitching Warm Nest (SWN)
Holman Fenwich Willian LLP
Forum RE Charity
The Innocent Foundation
Martin Bangs
Allan & Nesta Ferguson Charitable Trust
Chris Morgan
Donations below £20,000
Total 2023		 Restricted
Unrestricted
Total
Total
Funds
Funds
Funds
Funds
2024
2024
2024
2023
£
£
£
£
1,281,800
-
1,281,800
565,000
317,225
-
317,225
250,168
143,726
-
143,726
-
120,541
-
120,541
26,205
55,000
-
55,000
30,000
52,250
-
52,250
49,797
50,000
-
50,000
50,000
36,278
-
36,278
40,095
-
30,000
30,000
30,000
28,000
-
28,000
128,850
25,630
-
25,630
26,444
-
10,000
10,000
28,980
-
-
-
54,506
-
-
-
38,104
-
-
-
30,000
-
-
-
20,000
-
-
-
20,000
65,347
148,639
213,986
359,159
2,175,797
188,639
2,364,436
1,747,308
1,206,552
540,756
1,747,308

3. Income from other trading activities/Income from fundraising events

Challenge events
Total 2023
Sale of merchandise
Afnity income
Total 2023		 Restricted
Funds
2024
£		 Unrestricted
Total
Total
Funds
Funds
Funds
2024
2024
2023
£
£
£
- 27,593
27,593
113,843
43,049 70,794
113,843
Unrestricted
Total
Total
Funds
Funds
Funds
2024
2024
2023
£
£
£
6,343
6,343
10,286
171
171
272
6,514
6,514
10,558
10,558
10,558

Statement of financial activities 53

52 Annual Report & Accounts 2022-24

4. Investment income

6. Analysis of grants
5. Expenditure on raising funds
Interest from cash deposits
Total 2023
Grants to partners
Total 2023
Fundraising trading expenses
Cost of fundraising
Property costs and rent
Communications
Travel
Staf costs
Depreciation
Total 2023
7. Analysis of expenditure on charitable activities
Summary by fund type
Restricted
Funds
2024
£
Direct cost – Activities
1,772,005
Total 2023
1,061,945		 6. Analysis of grants
5. Expenditure on raising funds
Interest from cash deposits
Total 2023
Grants to partners
Total 2023
Fundraising trading expenses
Cost of fundraising
Property costs and rent
Communications
Travel
Staf costs
Depreciation
Total 2023
7. Analysis of expenditure on charitable activities
Summary by fund type
Restricted
Funds
2024
£
Direct cost – Activities
1,772,005
Total 2023
1,061,945		 Unrestricted
Total
Total
Funds
Funds
Funds
2024
2024
2023
£
£
£
12,983
12,983
5,091
5,091
5,091
Unrestricted
Total
Total
Funds
Funds
Funds
2024
2024
2023
£
£
£
20,247
20,247
45,242
-
-
3,014
17,604
17,604
4,719
-
-
631
47,035
47,035
117,491
-
-
279
84,886
84,886
171,376
171,376
171,376
Grants to
Total
Total
Institutions
Funds
Funds
2024
2024
2023
£
£
£
473,728
473,728
355,618
355,618
355,618
Unrestricted
Total
Total
Funds
Funds
Funds
2024
2024
2023
£
£
£
1,772,005 492,906
2,264,911
1,532,597
1,061,945 470,652
1,532,597

7. Analysis of expenditure on charitable activities (continued)

8. Analysis of expenditure by activities
Summary by
expenditure type
Staf Costs
Depreciation
2024
2024
£
Direct cost – Activities
671,466
7,386
Total 2023
532,608
10,212
Activities
Grant funding
undertaken directly
of activities
2024
2024
£
Direct cost – Activities
1,606,594
473,728
Total 2023
1,044,011
355,618
Analysis of direct costs
Staf costs
Depreciation
Contractor costs
Carbon Ofset Services
Consulting
Travel
Property costs and rent
Finance and administration
Other costs
Communications
Direct Project Costs
Total 2023		 Staf Costs
Depreciation
2024
2024
£		 Unrestricted
Total
Total
Funds
Funds
Funds
2024
2024
2023
£
£
£
671,466
7,386		 1,586,059
2,264,911
1,532,597
532,608
10,212		 989,777
1,532,597
Support
Total
Total
costs
funds
funds
2024
2024
2023
£
£
£
1,606,594
473,728		 184,589
2,264,911
1,532,597
1,044,011
355,618		 132,968
1,532,597
Total
Total
Activities
Funds
Funds
2024
2024
2023
£
£
£
547,194
547,194
440,159
7,386
7,386
9,993
6,757
6,757
53,022
837,477
837,477
311,136
27,852
27,852
12,122
16,129
16,129
39,140
6,117
6,117
51,643
610
610
60
32,152
32,152
1,683
-
-
5,947
124,920
124,920
119,106
1,606,594
1,606,594
1,044,011
1,044,011
1,044,011

Statement of financial activities 55

54 Annual Report & Accounts 2023-24

8. Analysis of expenditure by activities (continued)

Analysis of support costs
Staf costs
Depreciation
Audit, IE and related services
Property costs
Travel
Other costs
Communications
Total 2023		 Total
Total
Activities
Funds
Funds
2024
2024
2023
£
£
£
124,272
124,272
92,449
-
-
219
12,579
12,579
32,465
27,000
27,000
4,395
1,829
1,829
496
18,909
18,909
1,737
-
-
1,207
184,589
184,589
132,968
132,968
132,968

10. Staff costs (continued)

The average headcount expressed as full-time equivalents was:
Fundraising
Programmes
Governance
The number of employees whose employee benefts
(excluding employer pension costs) exceeded £60,000 was:
In the band £60,001 - £70,000		 No.
No.
4
4
20
22
3
3
27
29
No.
No.
-
1

The aggregate salary of the key management personnel was £208,946 (2023: £210,734). The employee benefits of key management personnel for the group were £10,847 (2023: £10,702) consisting entirely of employer pension contributions.

The Trustees are very grateful to the 10 volunteers that have supported the organisation through the year including those who have given their time to support the organisation.

9. Auditors’ remuneration

10. Staf costs
Wages and salaries
Social security costs
Contribution to defned contribution pension schemes
Fees payable to the Charity’s auditor for the audit of the Charity’s annual accounts		 2024
2023
£
£
9,000
8,500
2024
2023
£
£
718,501
568,563
31,700
35,773
47,010
45,763
797,217
650,099

The average number of persons employed by the Company during the year was as follows:

2024
No.		 2023
No.
Average number of employees 27 29

11. Trustees’ remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 £NIL ).

During the year ended 31 March 2024, expenses were reimbursed or paid directly to 1 Trustee (2023 none) broken down as follows:

broken down as follows:
Travel
12. Tangible fxed assets
Cost or valuation
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 2024
2023
£
£
225
-
Ofce equipment
£
51,724
6,463
58,187
45,951
7,386
53,337
4,850
5,773
58,187
45,951
7,386
53,337
4,850
5,773

Statement of financial activities 57

56 Annual Report & Accounts 2023-24

13. Debtors

Due within one year
Accounts receivable
Other debtors
Prepayments and accrued income		 2024
2023
£
£
37,495
140,087
1,457
118,405
29,856
42,295
68,808
300,787

Of the above accounts receivable balance of £37,495 none of this is still outstanding at the date of approval of the financial statements.

14. Creditors: Amounts falling due within one year

15. Statement of funds – current year
Trade creditors
Social security and other employment taxes
Accruals
Unrestricted
Balance at
Transfers
Funds
1 April 2023
Income
Expenditure
in/out/
£
£
£
£
Designated Funds
58,942
7,676
-
(58,942)
General Funds
327,933
235,729
(577,792)
612,396
Total
386,875
243,405
(577,792)
553,454		 15. Statement of funds – current year
Trade creditors
Social security and other employment taxes
Accruals
Unrestricted
Balance at
Transfers
Funds
1 April 2023
Income
Expenditure
in/out/
£
£
£
£
Designated Funds
58,942
7,676
-
(58,942)
General Funds
327,933
235,729
(577,792)
612,396
Total
386,875
243,405
(577,792)
553,454		 2024
2023
£
£
20,155
43,284
22,540
14,243
37,594
39,404
80,289
96,931
Gains
Balance at
(Losses)
31 March 2024
£
£
-
7,676
327,933
235,729
(577,792)
612,396		 (28,411)
569,855
386,875
243,405
(577,792)
553,454		 (28,411)
577,531

15. Statement of funds – current year (continued)

Balance at Transfers Gains Balance at
1 April 2023 Income Expenditure in/out/ (Losses) 31 March 2024
£ £ £ £ £ £
Restricted funds
Early Warning System
along Bheri River
(670)		 - - 670 - -
Clean Energy for
Health (II) (260) - - 260 - -
Clean Energy for
Health (III)		 21,572 28,499 (46,910) (544) - 2,617
Clean Energy for
Health Kenya (I) 20,367 6,868 (17,718) (9,517) - -
Clean Energy for
Health Kenya (II) 11,640 136,998 (18,648) - - 129,990
ENRICH (8,008) 15,861 (16,845) 8,992 - -
REALiZE 238,536 58,280 (277,197) - - 19,619
TREATS 99,037 14,074 (99,798) (8,992) - 4,321
UREKA 133,898 36,365 (102,986) - - 67,277
E4WASH 209,271 50,541 (127,127) - - 132,685
Carbon Ofset 100,000 - - (100,000) - -
Class - 143,726 (45,970) - - 97,756
Connect - 258,945 (120,307) - - 138,638
E4 ICE Kenya - 113,674 (61,022) - - 52,652
Carbon Ofset Programme
-		 1,281,800 (837,477) (444,323) - -
Clean Energy for
Health Scale Up
Total of funds		 -
825,383
1,212,258		 22,490
2,168,121
2,411,526		 -
(1,772,005)
(2,349,797)		 -
(553,454)
-		 -
-
(28,411)		 22,490
668,045
1,245,576

Name of fund and description, nature and purposes of the fund

General fund

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

Designated fund Renewable World Carbon Offset Project which is an investment in programme development. SECURE A project piloting solar energy access in five health posts and a flood warning system in Surkhet District, Nepal.

Early Warning System along Bheri River

This project aims to improve the disaster response capacity of 2,388 households in four poor, off-grid communities along the Bheri River basin through solar-powered Early Warning Systems in Panchapuri Municipality and Barahatal Rural Municipality of Surkhet.

Clean Energy for Health (II) Four 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 the uptake of new services.

Clean Energy for Health (III)

This project aims to improve health provision by equipping four Health Posts with solar energy systems, enabling them to refrigerate medicines and operate energy-reliant equipment, as well as installing drinking water filtration systems and hand-washing

Statement of financial activities 59

58 Annual Report & Accounts 2023-24

15. Statement of funds (continued)

UREKA

stations. Further, a health awareness raising campaign will promote communities’ people to use newly available services and raise awareness on key health and hygiene topics.

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.

Clean Energy for Health Kenya (I) 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.

E4WASH

E4WASH aims to improve the WASH status of communities and schools in Gorkha District by utilisation of clean and sustainable energy systems. E4WASH will work in 5 communities of Sahid Lakhan, Gandaki, Siranchok and other additional municipalities of Gorkha, improving access to water in 5 communities living on hilltops through solar-powered water lifting systems.

Clean Energy for Health Kenya (II) This project will deliver stand-alone solar energy 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 13,000 people.

Carbon Offset

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

ENRICH

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.

Class

Piloting Clean Energy Approaches to Improve Livelihoods, Conservation, Safety and Sustainability in the Buffer Zone of Banke National Park) is a £283K project funded by the Bentley Environmental Foundation (BEF), implemented over 15 months (February 2024 April 2025). The project harnesses clean energy to support communities and local government in the buffer zone around the Banke National Park to reduce poverty, tackle climate change and address human wildlife conflict. The project is designed to create a platform and enabling environment to facilitate scale up and replication around Banke and other locations in Nepal.

REALIZE

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

TREATS

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.

Connect

Connecting Communities and Ecosystems in Shuklaphanta) is a £1.3m project funded by Jersey Overseas Aid (JOA), implemented over 3.5 years (October 2023 March 2027). CONNECT is designed to help conserve one of Nepal’s most important ecosystems, reduce human wildlife conflict and tackle multidimensional poverty in and around Shuklaphanta National Park. CONNECT will benefit communities living in the buffer zone around the park, many of whom lack access to reliable energy and water and whose livelihood options are limited. CONNECT is inclusive, locally owned, and sustainable, benefiting over 12,000 people, with the potential to benefit many more through replication, and research and learning components.

E4 ICE Kenya

Using Renewable Energy to Transform Fishing Livelihoods) is a £283k project funded by EKOenergy, implemented over 4 years (March 2023 March 2027). E4Ice is a collaboration with a youth led social enterprise to develop fisheries related infrastructure in Homa Bay on Lake Victoria in Kenya. The project will use clean energy to provide ice and purified water which will contribute to reduced catch losses and increased profit margin for artisan fishers. The project will contribute to the Homa Bay Integrated Development Plan (2018 22) through its focus on tackling environmental degradation through the promotion of sustainable fishing and post harvest management techniques to tackle overfishing, whilst mitigating further climate change through the introduction of clean technologies.

15. Statement of funds – prior year

Unrestricted Balance at Transfers Gains Balance at
Funds 1 April 2022 Income Expenditure in/out/ (Losses) 31 March 2023
£ £ £ £ £ £
Designated Funds
121,689
General Funds
277,035
Total
398,724
Balance at
1 April 2022
£
Restricted funds
Early Warning System
along Bheri River
12,135
Clean Energy for
Health (II)
19,114
Clean Energy for
Health (III)
-
Clean Energy for
Health Kenya (I)
10,000
Clean Energy for
Health Kenya (II)
-
ENRICH
33,396
REALiZE
190,698		 -
627,199
627,199
Income
£
27,298
5,288
30,000
125,129
11,640
38,104
264,886		 (62,530)
(579,498)
(642,028)
Expenditure
£
(38,546)
(14,978)
(8,428)
(97,522)
-
(79,508)
(217,048)		 -
11,241
11,241
Transfers
in/out/
£
(1,557)
(9,684)
-
-
-
-
-		 (217)
(8,044)
(8,261)
Gains
(Losses)
£
-
-
-
(17,240)
-
-
-		 58,942
327,933
386,875
Balance at
31 March 2023
£
(670)
(260)
21,572
20,367
11,640
(8,008)
238,536
TREATS
UREKA
E4WASH
Carbon Ofset
Total of funds		 101,416
82,180
117,269
100,000
666,208
1,064,932		 112,994
172,617
150,509
311,136
1,249,601
1,876,800		 (115,373)
(120,899)
(58,507)
(311,136)
(1,061,945)
(1,703,973)		 -
-
-
-
(11,241)
-		 -
-
-
-
(17,240)
(25,501)		 99,037
133,898
209,271
100,000
825,383
1,212,258

Statement of financial activities 61

60 Annual Report & Accounts 2023-24

16. Summary of funds

Current year
Designated funds
General funds
Restricted funds
Prior year
Designated funds
General funds
Restricted funds		 Balance at
Transfers
Gains
Balance at
1 April 2023
Income
Expenditure
in/out/
(Losses)
31 March 2024
£
£
£
£
£
£
58,942
7,676
-
(58,942)
-
7,676
327,933
235,729
(577,792)
612,396
(28,411)
569,855
825,383
2,168,121
(1,772,005)
(553,454)
-
668,045
1,212,258
2,411,526
(2,349,797)
-
(28,411)
1,245,576
Balance at
Transfers
Gains
Balance at
1 April 2022
Income
Expenditure
in/out/
(Losses)
31 March 2023
£
£
£
£
£
£
121,689
-
(62,530)
-
(217)
58,942
277,035
627,199
(579,498)
11,241
(8,044)
327,933
666,208
1,249,601
(1,061,945)
(11,241)
(17,240)
825,383
1,064,932
1,876,800
(1,703,973)
-
(25,501)
1,212,258

17. Analysis of net assets between funds

Current year
Tangible fxed assets
Current assets
Creditors due within one year
Total
Prior year
Tangible fxed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Restricted
Unrestricted
Total
Funds
Funds
Funds
2024
2024
2024
£
£
£
-
4,850
4,850
668,045
652,970
1,321,015
-
(80,289)
(80,289)
668,045
577,531
1,245,576
Restricted
Unrestricted
Total
Funds
Funds
Funds
2023
2023
2023
£
£
£
-
5,773
5,773
863,211
440,205
1,303,416
-
(96,931)
(96,931)
(37,828)
37,828
-
825,383
386,875
1,212,258
  1. Reconciliation of net movement in funds to net cash flow from operating activities
19. Analysis of cash and cash equivalents
20. Analysis of changes in net debt
Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Losses on foreign exchange
Net cash provided by/(used in) operating activities
Cash in hand
Total cash and cash equivalents
At 1 April
2023
£
Cash at bank and in hand
1,002,629
Total
1,002,629		 19. Analysis of cash and cash equivalents
20. Analysis of changes in net debt
Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Losses on foreign exchange
Net cash provided by/(used in) operating activities
Cash in hand
Total cash and cash equivalents
At 1 April
2023
£
Cash at bank and in hand
1,002,629
Total
1,002,629		 2024
2023
£
£
61,729
172,827
7,386
10,491
(12,983)
(5,091)
231,979
524,873
(16,642)
(1,557,555)
(28,411)
(25,499)
243,058
(879,954)
2024
2023
£
£
1,252,207
1,002,629
1,252,207
1,002,629
At 31 March
Cash fows
2024
£
£
249,578
1,252,207
1,002,629 249,578
1,252,207

21. Related party transactions

During the prior year the trustees donated £20,000 to the charity. No donations were made by trustees during the current year.

During the year, a donation totalling £5,000 (2023: £Nil) was made to the charity by Two Sides Leadership & Brand Transformation Limited, a company controlled by S Walker, who serves as a trustee. No conditions were attached to this donation.

064 Annual Report & Accounts 2023-24Contact us

UK

Renewable World 1st & 2nd Floor Offices, 161 Edward Street, Brighton, BN2 0JB T + 44 (0)1273 076 050 E getintouch@renewable-world.org www.renewable-world.org

Nepal

Renewable World Chakupat -11 Lalitpur Nepal T + 977 985 1247334, +977 985 1247337 E getintouch@renewable-world.org www.renewable-world.org

Kenya

E getintouch@renewable-world.org www.renewable-world.org

Join us to transform lives through clean energy

RenewableWorld @Renewable_World Renewable-World @RenewableWorld

Registered charity number 1119467. Registered company number 06005778. © Renewable World 2023