2025-03-31-accounts

Renew WorL Transforming hrough Clean Energy 11 Annual Report and Accounts

Contents 03

Meet our leadership team

Shoumo Kanjilal Al Richardson Director of Finance and Global Programmes Director, UK Operations, UK

Eamon Cassidy Chief Executive Officer, UK

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

Matt Whitehead Director of Fundraising and Communications, UK

Contents

Contents
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
Our funders / Our delivery partners	31
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Trustees’ report and financial statements	34
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Reference and administration details	36
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Financial review	37
Statement of trustees’ responsibilities	40
Independent auditors’ report to the Members of Renewable World	41
Statement of financial activities	46

04 Annual Report & Accounts 2024-25

Message from the Chairs and CEO 05

Message from the Chairs and CEO

Renewable World was set up in 2007 by a group of committed renewable energy experts who saw the potential to help poor communities lift themselves out of poverty and mitigate the impact of climate change through increasing access to clean, renewable energy. This remains Renewable World’s driving mission.

This mission is becoming increasingly critical. The World Meteorological Organisation has confirmed that 2024 was the warmest year on record, overtaking the previous record set in 2023. Rising temperatures are driving extreme weather across the world, leaving communities everywhere to deal with more frequent and more severe droughts, floods and wildfires. It’s not too late for the international community to take action to get the world back on track to meet the goals of the Paris Agreement, but we cannot afford many more record-breaking years. Increased pressure on governments and international institutions to take concrete action is critical, with a core focus on achieving a just transition, meaning that the costs of tackling climate change must not be borne by poor communities – those at the heart of our mission – who did very little to cause it.

Our strategy set a target of reaching 200,000 people with our work by 2026.

We are now midway through our current three-year strategy, Powering people and planet through clean energy . Our annual report for 2024/25 highlights the progress we are making against the ambitious goals set out in the strategy, as we grow our programmes and deepen our impact. We ended 2024/25 in robust financial health with strong reserves and with a number of new multi-year projects ready to launch in both Nepal and Kenya.

Our strategy set a target of reaching 200,000 people with our work by 2026. We are very pleased to note in the annual report that we are tracking ahead of that target, reaching over 74,000 in 2024/25 alone, making a total so far of almost 220,000.

The annual report sets out what this success means in concrete terms, with examples from a range of our projects. In Nepal, we have worked with communities living in the buffer zones around northern Bardia and Banke National Parks to generate sustainable, renewable-energy-enhanced livelihoods through installing solar dryers and solar mills, alongside irrigation fed by solar-powered pumps. By the end of the project, twice as many households as expected reported increases of over 25% in their income. In Kenya, we are working with fishing communities on Lake Victoria where the lack of availability of ice to keep the catch fresh means poor prices and waste. In partnership with the community and a local company, we have developed a solarpowered ice-making facility that produces ice at an affordable price and allows the fisherfolk to bargain for better prices with buyers. In both Nepal and Kenya, we have continued to implement our successful Energy for Health projects, bringing solarpowered energy to off-grid rural health centres, enabling these clinics to stay open later and to offer vaccinations and other services that require a cold chain.

By the end of the project, twice as many households as expected reported increases of over 25% in their income.

Our work is made possible by the commitment and engagement of the communities where we work and the ongoing support of government and other partners in Nepal and Kenya. We are also very grateful to the government organisations, trusts and foundations, companies and individual donors who fund our programmes and to our incredible staff who deliver them.

Finally, we want to say a huge thank you to Chris Morgan, who stood down from the Renewable World Board of Trustees in December 2024 after three years as Chair and seven years as a Trustee. With his decades of experience in the energy and renewables sectors, Chris’s technical know-how and rigour left an indelible mark on Renewable World, and we owe him a debt of gratitude for helping to make us the impactful organisation we are today.

Emma Whiteacre Steve Walker Eamon Cassidy Co-Chair Co-Chair CEO

06 Annual Report & Accounts 2024-25 ¥ * . : : j ; - wy We are Renewable World , 07 Rusk ae ‘ ; ‘ vf[ a] a[ary] dd , * yr a fs * . a é !2 hal i / i,J 7 , ‘“ “ ; Fu; 7ra J; ' ‘ ag P E » f - a) r . J 1 fF a / : a * . ; 7. DS 1 2 ; “ |Pe = PP 4 : - | 7 ; We are Renewable World | * 1.2 billion people are still living in poverty, inequality ; ’ - | wy +d ' :ne ad , >. Hono , . “f / Ny ia ) ~ is rising, and the world is failing to decarbonise oe =. : 7 : ' Si Fr * Pf } >a quickly enough to avoid climate disaster. 7‘7 “Th i, ot

The world’s poorest people contributed little to climate change, yet they are most impacted, and least able to adapt. This is not fair. And it is not sustainable.

While a range of energy sources support efforts to eliminate poverty in developing countries, clean energy is a prerequisite for 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 energy is accessible to all ‒ because with clean energy, both people and planet can thrive.

It is our mission 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 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.

By 2026 we’ll empower over 200,000 people to transform their lives through clean, affordable, and reliable energy. And we’ll be on track to transform the lives of over 500,000 people by 2030.

We are pleased to present our Annual Report for 2024-25.

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

08 Annual Report & Accounts 2024-25

What we do

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

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But our role isn’t just about testing new innovations. 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 by eliminating poverty (SDG 1) and combating climate change and its impacts (SDG13). Under our four focus areas, we also directly contribute to 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.

Our focus areas

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

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Energy for catalytic change Energy for livelihoods
Catalysing systemic change through Improving incomes and
piloting scalable innovations, welfare by using energy for
unlocking investment in clean productive purposes, with a
energy, and working through focus on reaching the poorest,
sustainable partnerships. and 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; and systems; and mitigating climate
enabling cleaner cooking. change through clean energy.
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Where we work

In Kenya and Nepal, 25 million people are multi-dimensionally poor. Over 21 million people 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 countries to enable people in poverty to transform their lives through clean energy.

10 Annual Report & Accounts 2024-25

Our impact 11

2024-25 in numbers

Our impact

Clean energy powering people and planet since 2007

To date:

Energy for Energy for health climate and education

1,350 people

100,404 people

benefitted from access to healthcare powered by clean energy, and 31,123 people have improved access to safe drinking water.

are implementing climate-smart agriculture, which both mitigates and adapts to climate change

Energy for livelihoods

Energy for catalytic change

Our programmes have ensured improved access to clean energy for use with their livelihoods by 70,078 people

We have catalysed change for

219,833 people

85,223

9,434

446

people with increased income

people with a safe and reliable solar-powered water supply

people reached

319

12

2

active projects in two countries

women say that they have active projects in two countries increased empowerment to make local and provincial governments decisions, within the home and have integrated clean energy for their livelihoods 179 - * ° solutions into their conservation —) lec people with improved access to and development plans and budgets ‘ a energy for productive use — | o Gmo ates1 | ee2 sid Ls

7

health centres electrified, serving « . = at least 29,067 people

14 Annual Report & Accounts 2024-25

Energy for livelihoods 15

This year

179

people with improved access to energy for productive use

446

people with improved incomes

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.

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, while offering skillsbuilding and increasing market knowledge, can enable budding enterprises to flourish. In this way they are able to transform their lives through increased incomes and financial resilience made possible through the productive use of clean energy.

We do this through:

• Piloting innovative clean technologies and business models with potential to scale

• Enabling adoption of reliable and cost-effective technologies that increase the productivity of farmers and small businesses

• Facilitating partnerships, including communities, businesses, governments, and financiers

• Empowering people and communities to take advantage of these opportunities through training and institutional development.

Water transforming agriculture E4WASH empowered Kalpana to improve her vegetable production. She learnt how to control pests without resorting to harmful chemical pesticides, nourish her plants with organic Jholmol (liquid manure) rather than chemical fertilisers, become climate-smart, and make use of the new water supply for irrigation purposes. Kalpana is now selling tomatoes at the nearby market – a sustainable boost to her income.

Improving food security and incomes

In Nepal, most communities are able to grow one crop per year but, with water for irrigation, they can grow multiple crops and significantly increase their income. In our Clean Energy for Safe Water, Sanitation, and Hygiene (E4WASH) project, the consistent availability of water for irrigation transformed agriculture in the target communities. This was made possible by solar-powered multi-use systems (Solar MUS) which lift and distribute water to communities living above their nearest safe source. Farmers who previously struggled with seasonal water shortages are now able to cultivate off-season vegetables. They can sell this produce for a good price, significantly improving food security and household incomes. The use of grey water for irrigation further maximised water efficiency, supporting sustainable agricultural practices.

" With water available throughout the year, we can now grow offseason vegetables. This has greatly increased our harvest and income."

Farmer from Kahule, E4WASH

Our Renewable Energy Access for Livelihoods in Fragile Buffer Zones (REALIZE) project concluded this year. REALIZE sought to enable people living in and around Nepal’s Banke and Bardiya National Parks to generate a sustainable, clean-energyenhanced income.

JAMUNA OLI’S STORY

Project REALIZE

In Tharmuse, Nepal, Jamuna Oli used to walk four hours to a diesel-powered hulling facility to process her paddy grains. Sometimes, when the water was low or the diesel fuel had run out, she would return home empty handed.

Our REALIZE project has addressed this burden by establishing a local and community run rice mill powered entirely by solar energy. Local rice is affordable and sustainable, and women here can now use the time saved as they choose. 150 families living in Tharmuse, including Jamuna’s, now have access to husk-free rice, ready for cooking.

16 Annual Report & Accounts 2024-25

Together with communities, we

explored solutions which included installing solar dryers and solar mills, as well as water pumps for irrigation. In Sadhane, farmers can now grow and preserve a full harvest, store it for longer, mill their produce cheaply (ginger, turmeric, wheat, maize, rice and other grains), and sell only when the market price is high. Although the aim had been for half of households to achieve an increase in income of at least 25%, this was exceeded with 100% of those interviewed achieving abovetarget increases.

Innovative approaches to sustainable livelihoods

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. And we are always building on the successes and learnings

" Once the aquaculture site is up and running, it will open new income opportunities for our community. The technology and expertise from CONNECT will help us manage the fish farm more efficiently leading to better production and higher profits. This will not only improve our livelihoods but also strengthen the local economy with less dependency on forest resources."

Member of the Ajayapal Community Forest User Group, CONNECT

Shuklaphanta National Park. It is working to 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 will improve buffer zone community livelihoods, underpinned by systemic improvement in the region’s capacity for integrated conservation and development.

of our livelihoods projects and incorporating new innovative approaches.

Our Connecting communities and ecosystems in Shuklaphanta (CONNECT) project takes a systems approach to breaking a vicious cycle of ecosystemlivelihood conflict affecting communities in the buffer zone surrounding Nepal’s protected

In Kenya, our Renewable Energy to Transform Fishing Livelihoods (E4ICE) project is helping communities on Lake Victoria to improve their livelihoods which depend on fishing. They experienced high post-harvest losses. Unable to keep fish cool and prevent it from spoiling, they had to sell their catch for a low price.

Working with the communities and a private sector company (Adili Solar Hubs), E4ICE has now installed a solar-powered ice machine on Takawiri Island. Fisherfolk are buying ice at an affordable price. This will mean that their fish lasts longer, enabling them to sell it for a higher price. And the Takawiri community is also boosting its income by selling excess ice to neighbouring islands, such as this shipment headed to nearby Remba.

CONNECT is piloting various renewable energy technologies with communities living in the park’s buffer zone. These technologies will be showcased to the wider community, who are then linked to local market suppliers. By showing how the technologies can have significant benefits for their agriculture

(such as solar-powered cold storage or drying) or aquaculture (such as solar-powered water systems), more community members will be encouraged to invest in technology and so further scale CONNECT’s impact.

18 Annual Report & Accounts 2024-25

Energy for climate 19

Energy for climate

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.

This year

We are applying clean energy approaches in all of our projects. These include clean energy solutions for cooking, for powering household lighting and appliances, for livelihoods, for water access, and for health and education services. Whether replacing the use of wood, charcoal, gas, or diesel, these clean energy

Climate change mitigation and adaptation

133

Clean energy is critical for both climate change mitigation (reducing the emission of harmful gases that cause rising temperatures) and adaptation (helping communities adapt to climate change).

people now implementing

climate-smart agriculture

Community members develop their skills to operate and maintain a solar-powered multiple-use system (Solar MUS) which lifts safe water up to communities above the source. We are working to ensure that, once systems are installed, communities are supported and resourced to maintain them and ensure their future effectiveness.

solutions enable people’s welfare to improve while also helping the climate.

Often this clean energy comes from solar. However, there are also other methods. In our Clean Energy Approaches to Improve Livelihoods, Conservation, Safety, and Sustainability in the Buffer Zone of Banke National Park (CLASS) project in Nepal, we have been promoting clean cooking through the use of both electric cookstoves and biodigesters. The biodigesters provide a circular use for livestock waste, turning this into organic fertiliser and using the gas, which would otherwise be released into the atmosphere, for more efficient cooking.

Climate change and conservation

The REALIZE project promoted improved forest ecosystems which help with climate change mitigation. In the past, communities used timber in their local forest as a main source of income as well as fuel. By collaborating with them to switch their focus to non-timber forest products as well as increasing farm-based products, REALIZE has catalysed both increased sustainable incomes and bettermaintained forest, and supported environmental diversity.

YEK MAYA’S STORY

Clean cooking in rural Nepal

Yek Maya (left) is a 30-year-old mother of two in Gavar Valley, Baijanath. She is only able to see over short distances. Cooking over an open fire at home both exacerbates her, and her family’s, health issues. Collecting firewood from the nearby national park puts her at risk of attacks by tigers and other wild animals.

Our CLASS project responded. Yek Maya’s household, and 24 others like it in Gavar Valley, is now using electric cookstoves powered by clean energy. Yek Maya no longer needs to go into the forest for firewood, and she no longer faces harmful smoke from cooking over an open flame. Cooking has become faster, healthier, more cost-effective, and more efficient.

Yek Maya says, “many of my neighbours came to know about e-cook stoves, watch how it works and were interested knowing its benefits and effectiveness in cooking’. Her life has been transformed, and she hopes that others in her community can benefit: ‘I would be happy if more people, especially those who are physically weak like me, could get supported from e-cook stoves”.

• • } .~ ; wate 7 Ve eae a CASE STUDY Bie e Ss Pract ae . ~~Bemis 28 ne~~ oie Wetland restoration ~~URES. SHOR SHR oh eae Soa~~ kRe Together with our CONNECT project team, local i ap eee ch —. stakeholders visit a potential site for wetland ~~a~~ he ~~aeaS~~ ey Gee. restoration in Belauri, western Nepal. A ae CONNECT is conserving some of Nepal’s most oePENS GR: important ecosystems and endangered species. sre r : sag i. Through it, we are piloting clean energy for park oie wetland restoration. In the past there were ponds FeFn acre arap efaed= <yg psi rr, rigs Fee oipt: 7 a which were used by wildlife but due to damage to the national park area, these have been damaged and dried up, causing wildlife to seek water often gs) a near human habitation. The CONNECT project is pie i take iy ine restoring these ponds so wildlife can thrive as well as tsteAWEPe protecting communities.

“ Once the aquaculture site is up and running, it will open new income opportunities for our community. The technology and expertise from CONNECT will help us manage the fish farm more efficiently leading to better production and higher profits. This will not only improve our livelihoods but also strengthen the local economy with less dependency on forest resources.”

Member of the Ajayapal Community Forest User Group, CONNECT

22 Annual Report & Accounts 2024-25

Energy for health and education 23

This year

7

health centres electrified, serving at least 29,067 people

9,434

people now have access to clean water for drinking and washing

Energy for health and education

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, 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

We all depend on having access to health facilities. But in some places, facilities are far away or lack the necessary services. Without access to electricity, basic equipment cannot work and health staff must rely on candles or their phone torches when providing medical services to patients after dark.

This year we expanded our Clean Energy for Health programming in both Nepal and Kenya. Our Clean Energy for Health 2 (E4H2) project in Kajiado County, Kenya, saw seven

remote health facilities serving over 29,000 people electrified with solar-powered systems for the first time. The energy not only provided light and fans but also powered fridges and cool boxes, which are key for keeping vaccines viable. Facility records for the year show that there has been an increase in the patient footfall from an average of 3,153 patients per facility during baseline to an average of 4,486 at the end of the project. Health staff and community members say that this is mainly due to the installation of solar systems in the health facilities, which have enabled the facilities to operate for longer hours as well as provide additional essential health services such as vaccinations.

We engage communities to reflect and evaluate how a project is going and what the impacts are. This year it was very exciting for us that we were able to go back to an E4H project which finished in early 2023 and see whether the impact has been maintained. What we found was not only that the facilities continued to provide improved services as a result of access to clean energy, but also that the number of patients increased by a further 50% over the year after the project had ended.

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CASE STUDY
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A game changer
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Makena runs a small pharmacy on Takawiri Island. "Almost every day, I treated someone suffering from contaminated water".

The solar-powered water purification system installed by our E4ICE project, now provides clean and safe water to the community. Affordable and readily available from dispensing units (pictured), the purified water quickly became a game-changer for public health. Today, Makena sees fewer patients with waterborne illnesses, instead promoting safe WASH practices to prevent illness.

" For my first five children, I had to travel approximately 10km to another town to access vaccine services. However, for my youngest, who is now 6 months old, I can conveniently bring her to this clinic for her vaccinations."

A mother and child attend clinic for essential vaccinations made possible by the solar-powered refrigeration of vaccines through our E4H2 project in Kajiado.

A mother, Oldonyo Lasho community, E4H2

24 Annual Report & Accounts 2024-25

" Before the installation of the water filtration system, we faced significant challenges with contaminated water. Now, students and teachers can drink safe water, which is expected to lead to better health outcomes and reduce incidents of waterborne illnesses."

Head Teacher, Mahalaxmi Secondary School, E4WASH

The reason noted by the nurses in charge was that more women were deciding to give birth within the facility rather than at home. The nurses also shared that the facilities are now fully stocked with the Government-approved vaccines that require refrigeration such as the Oral Polio Vaccine for children under five, Tetanus for pregnant women, Rota Virus, HPV (Human Papilloma Virus) among others. The availability of these medicines has ensured that the facility continues to provide the healthcare services required by the community.

Energy for education

Clean energy provides lighting to enable learning in the classroom. It also powers systems that deliver safe water to schools and communities, helping improve the health of children and staff while in school. Additionally, access to energy supports improved educational outcomes via digital learning. In our E4WASH project in Nepal, we ensured that clean water was consistently available for students and teachers. This access to safe drinking water has reduced waterborne illnesses and boosted attendance among 2,731 students. Girls, who are often absent from school during their periods, have particularly benefitted.

The provision of clean water for sanitation, the installation of sanitary pad dispensers and incinerators, and education on menstrual hygiene management, has greatly improved the school experience for female students, promoting dignity and regular school attendance.

This project also had a positive impact for women and marginalised groups in the community. By promoting gender inclusion and the active participation of women and marginalised groups (including Dalits) within Water User Committees (WUCs), it ensured their voices were clearly heard leading to more equitable governance of WASH facilities. Some women are now in leadership positions within these committees, empowered to take ownership of their water systems. Our approach to ensuring supported and representative WUCs fosters a sense of responsibility and helps ensure long-term sustainability.

26 Annual Report & Accounts 2024-25

Energy for catalytic change 27

7 innovative and effective partnerships

We have catalysed change for an additional 85,223 people

Energy for catalytic change

Catalysing systemic change through piloting scalable innovations, unlocking investment in clean energy, and working through sustainable partnerships.

Catalytic change has also been seen when communities are empowered and brought together with other stakeholders for long-term partnerships that benefit both the immediate and wider communities and other communities. In our REALIZE project in Nepal, we worked with Community Forest User Groups as well as the Bardia and Banke National Park authorities. A mechanism for government compensation had existed for people to claim compensation if their crops or livestock were damaged or killed by wild animals from the park. However, communities did not know how to make claims and also had to walk miles to a government office to submit them. By bringing the community and the park rangers together, we were able to build a positive relationship and provide a solar-powered ICT system so that community members can submit claims easily and quickly. This approach is now of interest to other communities and other park authorities across Nepal.

We aim to apply systems thinking to our programming, so that our projects address the right problems, are innovative, and deliver sustainable and scalable impact. This means understanding the interconnectedness of issues and addressing barriers as well as piloting solutions which can not only help communities long past the project ends but can also help other communities. We call this catalytic change.

Piloting innovation through new partnerships

To catalyse change, we pilot scalable innovation, unlock investment, and deliver new sustainable partnerships. This year we made further progress on our E4ICE project in Kenya. We are partnering with Adili Solar Hubs — a private sector company providing both clean water and ice, the cost of which is much lower than the community were paying previously. The ice has been so successful that now the private sector company and entrepreneurs on the island are teaming up to market this ice to neighbouring islands. This catalytic impact will further increase the impact for more fisherfolk as they too can sell their produce for a better price. And it allows the private sector partner to recoup their investment faster and to scale up this approach to other areas of Kenya.

We are changing attitudes and commitments to towards a sustainable future. This was seen in REALIZE as we worked with local government and teachers to ensure that the school curriculum covers topics such as renewable energy, climate change, fostering environmental awareness and sustainable development. In CLASS, this year we have also worked with the park authorities and communities to improve attitudes towards, and the availability of services and infrastructure for, waste management.

ONGATA THE FISHERMAN'S STORY

Ice on demand on Takawiri Island

For Ongata, fishing is not just a job, it’s a way of life and the primary source of income for his family. But for years, he faced a stubborn problem: keeping his catch fresh. Ongata had to travel over an hour by boat to Mbita to buy ice. The journey was time-consuming, costly, and unreliable. "Sometimes I’d get there and find there was no ice left", he says. This meant fish often spoiled before reaching the market, reducing both quality and income. "It was painful throwing away fish I had worked hard to catch".

Our E4ICE project is ensuring that locally produced ice is now available, affordable, and accessible around the clock, tailored to the needs of small-scale fishermen like Ongata.

Ongata now buys ice right on the island – no boat trips, no waiting, no wasted time. "I only buy what I need depending on my catch", he explains. "Even if I land fish at night, I know I can get ice". With spoilage no longer an issue, he sells his fish fresh and at better prices. He’s noticed more trust from buyers and has seen his income stabilise. "I feel proud knowing I’m selling quality fish".

Ongata is one of over 100 fisherfolk now benefitting from locally available ice on Takawiri. His story highlights a broader transformation across the fishing community: less waste, better income, and a stronger local economy. E4ICE is not just preserving fish; it’s preserving livelihoods. When essential resources are brought closer to the community, resilience and prosperity follow.

Our Projects / Our funders / Our delivery partners 31

30 Annual Report & Accounts 2024-25

Our projects

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

Renewable Energy Access for Livelihoods in Fragile Buffer Zones Nepal (REALIZE)	8,378 ~~PT~~	Jul 2020 ~~PT~~	Jun 2024
Clean Energy for Water, Sanitation, and Hygiene (E4WASH)	1,601 ~~	~~	Apr 2022
Piloting Clean Energy Approaches to Improve Livelihoods, Conservation, Safety and Sustainability in the Buffer Zone of Banke National Park (CLASS)	1,650	Feb 2024	May 2025
Clean Energy for Improved Health Scale-Up (Phase 1) (E4H Scale-Up)	9,217	Oct 2024	Sep 2025
Connecting Communities and Ecosystems in Shuklaphanta (CONNECT)	13,051	Oct 2023	Mar 2027
Clean Energy for Water, Sanitation, and Hygiene Scale- Up (E4WASH Scale-Up)	4,665 ~~re~~	Feb 2025	Jan 2029

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:

We are working to empower over 200,000 people to transform their lives and tackle climate change through clean energy by 2026.

To find out how, read our 2023-26 strategy: www.renewable-world.org/ about-us/who-we-are/powering-people-and-planet/

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Trustees’ report and financial statements 35

34 Annual Report & Accounts 2024-25

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.

2024-25 Trustees and

secretariat

The organisation has at least four, but no more than twelve trustees. At the end of 2024-25, Renewable World had 12 trustees:

• Christopher Morgan (Chair, resigned 17th December 2024)

• Catherine Adams (Treasurer)

• Stephen Walker (Vice Chair, appointed Co-Chair 17th December 2024)

• Diana Du Luart (“Diana France”)

• Lata Shrestha

• Carolina Karlstrom

• Emma Whiteacre (appointed CoChair 17th December 2024)

• Richard Dewdney

• Ian Robinson

• Josepha Ditisheim

• Nicholas Podevyn

• Nichola Feltham

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 Finance, Audit, and Risk Committee oversees financial performance, risk, and audit. It met nine times in 2024-25.

• The Programme Committee which oversees programme delivery, including impact, finance, risk, and future pipeline. It met four times in 2024-25.

• The Fundraising and

Communications Committee oversees fundraising strategy, income performance, and communications. It met four times in 2024-25.

• 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 twice in 2024-25.

• The Remuneration Committee consisting of Trustees met once - in February 2025 - to approve the CEO salary and overall staff salary budget.

36 Annual Report & Accounts 2024-25

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 2024-25 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

• To relieve poverty

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

• 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.

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 movement in funds for the year are -£125,768 compared with £33,318 in 2023-24. Restricted income is £1,050,765, compared to £2,168,121 in 2023-24. Unrestricted income is £306,741 compared to £243,405 in 2023-24. Total income has decreased to £1,357,506 compared to £2,411,526 in 202324. This is due to a transitional period as the organisation moves from carbon offsetting unrestricted income with an increasing proportion of restricted long-term funding.

Similarly, total expenditure has decreased to £1,484,319 in FY24-25, from £2,349,797 in 2023-24 and this is directly related to the decreased income explained above. The proportion of expenditure on charitable activities is 80% (2023-24: 90%) whilst fundraising and governance costs are 2%.

Our Nepal and Kenya programmes are supported by an average fulltime equivalent global staff team of 29 (2023-24: 27) and delivered by 13 partners in total (202324:13) with 11 being local, one international, and one from the private sector.

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 core operating costs, giving us a target of £230,000 at the end of 2024-25.

Reserves held

Unrestricted reserves held at the end of the financial year were £406,029 (2023-24: £577,531); and restricted reserves were £713,779 (2023-24: £668,045). 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

Further downward changes in the UK’s ODA budget, the crises in Ukraine and the Middle East, the continuing strains placed on the UK public’s household income, and the US Government’s recent signalling on aid, have all contributed to a challenging environment in which to fundraise. However, this year saw a 20% increase in voluntary income (£1.36m) in comparison with 2023-24 (£1.13m). We have maintained the support provided by our fantastic existing partners, and we are working to better engage and diversify Renewable World’s supporter base while continuing to seek more multi-year partnerships. 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. Positively, our strategy is proving to be the platform for growth and new funding partnerships we had intended it to be.

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.

38 Annual Report & Accounts 2024-25

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.

• 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.

• 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 2025

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, impact from Brexit, and the geo-political changes following the US elections) can impact on our ability to deliver programmes, fundraise, and operate as a team. Our response to these events 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.

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 comprehensive and robust 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 selfassessment 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 Co-operation Agreement is developed defining project budgets and deliverables; this 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.

Going concern

As set out above as of 31 March 2025 the Charity had cash reserves of £334,700 (2024: £569,855), more than three month’s core operating costs. These were free reserves not including other restricted funds held or fixed assets.

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.

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

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:

• there is no relevant audit information of which the charity's auditors are unaware; and

• we have taken all the steps

• that we ought to have taken as trustees to make ourselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

On behalf of the board

Emma Whiteacre Co-Chair 22nd October 2025

Steve Walker Co-Chair 22nd October 2025

Catherine Adams Treasurer 22nd October 2025

40 Annual Report & Accounts 2024-25

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 22nd October 2025 and signed on their behalf, by:

• select suitable accounting policies and then apply them consistently

• observe the methods and principles of the Charities SORP (FRS 102)

Emma Whiteacre

Co-Chair 22nd October 2025

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.

• make judgments and accounting estimates that are reasonable and prudent

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements

Steve Walker

Co-Chair 22nd October 2025

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

Catherine Adams Treasurer 22nd October 2025

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 'charity') for the year ended 31 March 2025 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:

• give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;

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.

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

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.

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

We have nothing to report in this regard.

42 Annual Report & Accounts 2024-25

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:

• the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Trustees' report has been prepared in accordance with applicable legal requirements.

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:

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

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

• Certain disclosures of Trustees' remuneration specified by law are not made; or

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

• 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.

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 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 noncompliance with laws and regulations (including health and safety) and fraud, and review of the reports made by management; and

• Assessment of identified fraud risk factors; and

• Challenging assumptions and judgments 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 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 through the use of data analytics, in particular any manual entries made at the year-end for financial statement preparation.

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 of 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 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 2024-25

• 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.

Auditors

The audit registration of Kreston Reeves LLP was transferred to Kreston Reeves Audit LLP on 6 October 2025. Kreston Reeves Audit LLP were formally appointed as auditor to the company on 6 October 2025.

Kreston Reeves Audit LLP

Samantha Rouse FCCA DchA for and on behalf of

Kreston Reeves Audit LLP Chartered Accountants Statutory Auditor Canterbury Date: 23rd October 2025

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Statement of financial activities 47

46 Annual Report & Accounts 2024-25

Statement of financial activities

Incorporating income and expenditure account for the year ended 31 March 2025

Statement of financial activities (incorporating income and expenditure account) for the year ended 31 March 2025

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 2025 2025 2025 2024 £ £ £ £ 1,045,266 286,148 1,331,414 2,364,436 5,499 9,194 14,693 34,107 - 11,399 11,399 12,983
	1,050,765 306,741 1,357,506 2,411,526
	- 37,021 37,021 84,886 936,075 511,223 1,447,298 2,264,911
	936,075 548,244 1,484,319 2,349,797
	114,690 (241,503) (126,813) 61,729 (68,956) 68,956 - -
	45,734 (172,547) (126,813) 61,729 - 1,045 1,045 (28,411)
	45,734 (171,502) (125,768) 33,318
	668,045 577,531 1,245,576 1,212,258 45,734 (171,502) (125,768) 33,318
	713,779 406,029 1,119,808 1,245,576

Registered number: 06005778 Balance sheet as at 31 March 2025

Registered number: 06005778 Balance sheet as at 31 March 2025
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	2025 2024 £ £ 5,620 4,850
	5,620 4,850 67,689 68,808 1,106,395 1,252,207
	1,174,084 1,321,015 (59,896) (80,289)
	1,114,188 1,240,726
	1,119,808 1,245,576
	1,119,808 1,245,576
	713,779 668,045 406,029 577,531
	1,119,808 1,245,576

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:

Emma Whitacre Steve Walker Catherine Adams Co Chair Co Chair Treasurer 22nd October 2025 22nd October 2025 22nd October 2025

The notes on pages 49 to 61 form part of these financial statements.

The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 49 to 61 form part of these financial statements.

Statement of financial activities 49

48 Annual Report & Accounts 2024-25

Statement of cash flows for the year ended 31 March 2025

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 49 to 61 form part of these fnancial statements	2025 2024 £ £
	(152,010) 243,058
	(5,200) (6,463) 11,399 12,983
	6,199 6,520
	- -
	(145,811) 249,578 1,252,207 1,002,629
	1,106,396 1,252,207

Notes to the financial statements for the year ended 31 March 2025

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

1. Accounting policies

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 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 2024/2025 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 2024-25

Notes to the financial statements for the year ended 31 March 2025

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 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.

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 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.

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.

1.12 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.

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.

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.

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).

A discrepancy of £22.8k has been identified between the closing balance of the restricted fund at the end of the financial year (FY23/24), as noted by the charity, and the corresponding balance reported on the balance sheet. This variance relates to a number of projects where restricted income was under reported.

As the discrepancy is immaterial in aggregate, transfers to funds have been adjusted in the current year, rather than restating the opening balances.

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

2. Income from donations and legacies

3. Income from other trading activities/Income from fundraising events Restricted Unrestricted Total Total Funds Funds Funds Funds 2025 2025 2025 2024 £ £ £ £ Jersey Overseas Aid (JOA) 484,045 - 484,045 317,225 Bentley Environmental Foundation 143,726 - 143,726 143,726 EKO Energy (EUR) 118,094 - 118,094 120,542 Stitching Warm Nest (SWN) 116,064 - 116,064 25,630 Octopus Energy 10,000 99,593 109,593 - Rotork 60,000 - 60,000 50,000 Unica Foundation 35,862 - 35,862 36,278 Guernsey Overseas Aid (GOAC) 30,250 - 30,250 52,249 The Happold Foundation - 30,000 30,000 30,000 Holman Fenwich Willian LLP - 22,110 22,110 10,000 The Reed Foundation - 19,853 19,853 12,500 Lady Yuen Peng McNeice Charitable Foundation - 10,000 10,000 - Octopus Carbon Ofsetting - - - 1,281,800 David & Ruth Lewis Family Charitable Trust - - - 55,000 Beazley - - - 28,000 Coles Medlock Foundation - - - 15,000 Donations below £10,000 53,188 113,323 166,511 186,486 1,051,229 294,879 1,346,108 2,364,436 Total 2024 2,175,797 188,639 2,364,436 Restricted Unrestricted Total Total Funds Funds Funds Funds 2025 2025 2025 2024 £ £ £ £ Challenge events 5,499 7,034 12,533 27,593 Total 2024 - 27,593 27,593 Unrestricted Total Total Funds Funds Funds 2025 2025 2024 £ £ £ Sale of merchandise 2,160 2,160 6,343 Afnity income - - 171 2,160 2,160 6,514 Total 2024 6,514 6,514	3. Income from other trading activities/Income from fundraising events Restricted Unrestricted Total Total Funds Funds Funds Funds 2025 2025 2025 2024 £ £ £ £ Jersey Overseas Aid (JOA) 484,045 - 484,045 317,225 Bentley Environmental Foundation 143,726 - 143,726 143,726 EKO Energy (EUR) 118,094 - 118,094 120,542 Stitching Warm Nest (SWN) 116,064 - 116,064 25,630 Octopus Energy 10,000 99,593 109,593 - Rotork 60,000 - 60,000 50,000 Unica Foundation 35,862 - 35,862 36,278 Guernsey Overseas Aid (GOAC) 30,250 - 30,250 52,249 The Happold Foundation - 30,000 30,000 30,000 Holman Fenwich Willian LLP - 22,110 22,110 10,000 The Reed Foundation - 19,853 19,853 12,500 Lady Yuen Peng McNeice Charitable Foundation - 10,000 10,000 - Octopus Carbon Ofsetting - - - 1,281,800 David & Ruth Lewis Family Charitable Trust - - - 55,000 Beazley - - - 28,000 Coles Medlock Foundation - - - 15,000 Donations below £10,000 53,188 113,323 166,511 186,486 1,051,229 294,879 1,346,108 2,364,436 Total 2024 2,175,797 188,639 2,364,436 Restricted Unrestricted Total Total Funds Funds Funds Funds 2025 2025 2025 2024 £ £ £ £ Challenge events 5,499 7,034 12,533 27,593 Total 2024 - 27,593 27,593 Unrestricted Total Total Funds Funds Funds 2025 2025 2024 £ £ £ Sale of merchandise 2,160 2,160 6,343 Afnity income - - 171 2,160 2,160 6,514 Total 2024 6,514 6,514	3. Income from other trading activities/Income from fundraising events Restricted Unrestricted Total Total Funds Funds Funds Funds 2025 2025 2025 2024 £ £ £ £ Jersey Overseas Aid (JOA) 484,045 - 484,045 317,225 Bentley Environmental Foundation 143,726 - 143,726 143,726 EKO Energy (EUR) 118,094 - 118,094 120,542 Stitching Warm Nest (SWN) 116,064 - 116,064 25,630 Octopus Energy 10,000 99,593 109,593 - Rotork 60,000 - 60,000 50,000 Unica Foundation 35,862 - 35,862 36,278 Guernsey Overseas Aid (GOAC) 30,250 - 30,250 52,249 The Happold Foundation - 30,000 30,000 30,000 Holman Fenwich Willian LLP - 22,110 22,110 10,000 The Reed Foundation - 19,853 19,853 12,500 Lady Yuen Peng McNeice Charitable Foundation - 10,000 10,000 - Octopus Carbon Ofsetting - - - 1,281,800 David & Ruth Lewis Family Charitable Trust - - - 55,000 Beazley - - - 28,000 Coles Medlock Foundation - - - 15,000 Donations below £10,000 53,188 113,323 166,511 186,486 1,051,229 294,879 1,346,108 2,364,436 Total 2024 2,175,797 188,639 2,364,436 Restricted Unrestricted Total Total Funds Funds Funds Funds 2025 2025 2025 2024 £ £ £ £ Challenge events 5,499 7,034 12,533 27,593 Total 2024 - 27,593 27,593 Unrestricted Total Total Funds Funds Funds 2025 2025 2024 £ £ £ Sale of merchandise 2,160 2,160 6,343 Afnity income - - 171 2,160 2,160 6,514 Total 2024 6,514 6,514
	5,499	7,034 12,533 27,593
	-	27,593 27,593
		Unrestricted Total Total Funds Funds Funds 2025 2025 2024 £ £ £ 2,160 2,160 6,343 - - 171
		2,160 2,160 6,514
		6,514 6,514

Statement of financial activities 53

52 Annual Report & Accounts 2024-25

4. Investment income

Interest from cash deposits Total 2024	Unrestricted Total Total Funds Funds Funds 2025 2025 2024 £ £ £
	11,399 11,399 12,983
	12,983 12,983

5. Expenditure on raising funds

6. Analysis of grants Grants to partners Total 2024 Fundraising trading expenses Cost of fundraising Communications Staf costs Total 2024 7. Analysis of expenditure on charitable activities Summary by fund type Restricted Funds 2025 £ Direct cost – Activities 936,07 Total 2024 1,772,005	6. Analysis of grants Grants to partners Total 2024 Fundraising trading expenses Cost of fundraising Communications Staf costs Total 2024 7. Analysis of expenditure on charitable activities Summary by fund type Restricted Funds 2025 £ Direct cost – Activities 936,07 Total 2024 1,772,005	Unrestricted Total Total Funds Funds Funds 2025 2025 2024 £ £ £ 7,660 7,660 20,247 6,667 6,667 17,604 22,694 22,694 47,035
		37,021 37,021 84,886
		84,886 84,886
		Grants to Total Total Institutions Funds Funds 2025 2025 2024 £ £ £
		304,574 304,574 473,728
		473,728 473,728
		Unrestricted Total Total Funds Funds Funds 2025 2025 2024 £ £ £
	936,07	511,223 1,447,298 2,264,911
	1,772,005	492,906 2,264,911

7. Analysis of expenditure on charitable activities (continued)

8. Analysis of expenditure by activities Summary by expenditure type Staf Costs Depreciation 2025 2025 £ Direct cost – Activities 753,302 4,430 Total 2024 671,466 7,386 Activities Grant funding undertaken directly of activities 2025 2025 £ Direct cost – Activities 868,149 304,574 Total 2024 1,606,594 473,728 Analysis of direct costs Staf costs Depreciation Contractor costs Carbon Ofset Services Consulting Travel Property costs and rent Finance and administration Other costs Direct Project Costs Total 2024	Staf Costs Depreciation 2025 2025 £	Unrestricted Total Total Funds Funds Funds 2025 2025 2024 £ £ £
	753,302 4,430	689,566 1,447,298 2,264,911
	671,466 7,386	1,586,059 2,264,911
		Support Total Total costs funds funds 2025 2025 2024 £ £ £
	868,149 304,574	274,575 1,447,298 2,264,911
	1,606,594 473,728	184,589 2,264,911
		Total Total Activities Funds Funds 2025 2025 2024 £ £ £ 545,758 545,758 547,194 4,430 4,430 7,386 43,454 43,454 6,757 - - 837,477 - - 27,852 10,397 10,397 16,129 8,220 8,220 6,117 35 35 610 25,646 25,646 32,152 230,209 230,209 124,920
		868,149 868,149 1,606,594
		1,606,594 1,606,594

Statement of financial activities 55

54 Annual Report & Accounts 2024-25

8. Analysis of expenditure by activities (continued)

9. Auditors’ remuneration Fees payable to the Charity’s auditor for the audit of the Charity’s annual accounts Analysis of support costs Activities 2025 £ Staf costs 207,544 Audit, IE and related services 16,164 Property costs 38,609 Travel 5,726 Other costs 6,532 274,575 Total 2024 184,589	Activities 2025 £ 207,544 16,164 38,609 5,726 6,532	Total Total Funds Funds 2025 2024 £ £ 207,544 124,272 16,164 12,579 38,609 27,000 5,726 1,829 6,532 18,909
	274,575	274,575 184,589
	184,589	184,589
		2025 2024 £ £
		10,500 9,000

10. Staff costs (continued)

The average headcount expressed as full-time equivalents was:
	2025	2024
	No.	No.
Fundraising	4	4
Programmes	22	20
Governance	3	3
	29	27
The number of employees whose employee benefts (excluding employer pension costs) exceeded £60,000 was:
	2025	2024
	No.	No.
In the band £60,001-£70,000	1	-

The aggregate salary of the key management personnel was £238,867 (2024: £208,946). The employee benefits of key management personnel for the group were £14,403 (2024: £10,847) consisting entirely of employer pension contributions.

11. Trustees’ remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024-£NIL).

10. Staff costs

	2025	2024
	£	£
Wages and salaries	683,379	639,791
Social security costs	20,558	31,700
Contribution to defned contribution pension schemes	36,699	45,763

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

	2025	2024
	No.	No.
Average number of employees	29	27

During the year ended 31 March 2025, expenses were reimbursed or paid directly to 2 Trustees (2024-1) broken down as follows:

During the year ended 31 March 2025, expenses were reimbursed or paid directly to 2 Trustees (2024-1) broken down as follows:
Travel 12. Tangible fxed assets Cost or valuation At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	2025 2024 £ £
	250 225
	Ofce equipment £ 58,187 5,200 63,387 53,337 4,430 57,767 5,620 4,850
		63,387
		53,337 4,430
		57,767
		5,620
		4,850

Statement of financial activities 57

56 Annual Report & Accounts 2024-25

13. Debtors

Due within one year Accounts receivable Other debtors Prepayments and accrued income	2025 2024 £ £ 41,743 37,495 - 1,457 25,946 29,856
	67,689 68,808

Of the above accounts receivable balance of £41,743 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 2024 Income Expenditure in/out/ £ £ £ £ Designated Funds 7,676 - - 63,653 General Funds 569,855 306,741 (548,244) 5,303 Total 577,531 306,741 (548,244) 68,956	15. Statement of funds – current year Trade creditors Social security and other employment taxes Accruals Unrestricted Balance at Transfers Funds 1 April 2024 Income Expenditure in/out/ £ £ £ £ Designated Funds 7,676 - - 63,653 General Funds 569,855 306,741 (548,244) 5,303 Total 577,531 306,741 (548,244) 68,956	2025 2024 £ £ 12,228 20,155 19,735 22,540 27,933 37,594
		59,896 80,289
		Gains Balance at (Losses) 31 March 2025 £ £ - 71,329
	569,855 306,741 (548,244) 5,303	1,045 334,700
	577,531 306,741 (548,244) 68,956	1,045 406,029

15. Statement of funds – current year (continued)

Restricted funds Clean Energy for Health Nepal Clean Energy for Health Kenya (II) Clean Energy for Health Kenya (III) REALiZE TREATS UREKA E4WASH E4 WASH Scale Up Class Connect E4 ICE Kenya Clean Energy for Health Scale Up Total of funds	Balance at Transfers Gains Balance at 1 April 2024 Income Expenditure in/out/ (Losses) 31 March 2025 £ £ £ £ £ £ 2,617 - - (2,617) - - 129,990 30,250 (162,392) - - (2,152) - 60,000 (5,355) - - 54,645 19,619 14,618 (38,542) 4,305 - - 4,321 - - (4,321) - - 67,277 8,005 (51,082) (24,200) - - 132,685 66,374 (145,000) (54,059) - - - 76,212 (25,665) - - 50,547 97,756 143,726 (209,977) - - 31,505 138,638 469,475 (160,539) - - 447,574 52,652 41,882 (93,357) - - 1,177 22,490 140,223 (44,166) 11,936 - 130,483
	668,045 1,050,765 (936,075) (68,956) - 713,779
	1,245,576 1,357,506 (1,484,319) - 1,045 1,119,808

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

Clean Energy for Health Kenya

General fund

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.

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.

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

Designated fund

Provision of funding to support programme development and implementation.

Early Warning System along Bheri River

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 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.

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.

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.

Clean Energy for Health (II)

Four poor, off-grid communities in Surkhet District, Nepal will receive solar-powered energy systems at

Statement of financial activities 59

58 Annual Report & Accounts 2024-25

15. Statement of funds (continued)

Class

TREATS

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.

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.

UREKA

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.

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.

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.

E4H Scale Up

The project aims to improve the health provision of off grid rural communities in mountainous areas of Surkhet and Gorkha districts in Nepal. The health facilities will be upgraded with solar power and equipment enabling them to provide improved services including after dark as well as boosting vaccination rates via the refrigeration of vaccines. A solar powered water system along with awareness raising will give access to clean drinking water and water for sanitation and handwashing.

15. Statement of funds – prior year

E4 ICE Kenya

E4 ICE Kenya	Unrestricted	Balance at			Transfers	Gains	Balance at
Using Renewable Energy to Transform	Funds	1 April 2023	Income	Expenditure	in/out/	(Losses)	31 March 2024
Fishing Livelihoods) is a £283k project		£	£	£	£	£	£
funded by EKOenergy, implemented
over 4 years (March 2023 March	Designated Funds	58,942	7,676	-	(58,942)	-	7,676
2027). E4Ice is a collaboration with a youth led social enterprise to develop	General Funds	327,933	235,729	(577,792)	612,396	(28,411)	569,855
fsheries related infrastructure in	Total	386,875	243,405	(577,792)	553,454	(28,411)	577,531
Homa Bay on Lake Victoria in Kenya.
The project will use clean energy to provide ice and purifed water which will contribute to reduced catch losses and increased proft margin for artisan fshers. 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 fshing and post harvest management techniques to tackle overfshing, whilst mitigating further climate change through the introduction of clean technologies.	Balance at 1 April 2023 £ Restricted funds Early Warning System along Bheri River (670) Clean Energy for Health (II) (260) Clean Energy for Health (III) 21,572		Income £ - - 28,499	Expenditure £ - - (46,910)	Transfers in/out/ £ 670 260 (544)	Gains (Losses) £ - - -	Balance at 31 March 2024 £ - - 2,617
E4WASH Scale up The project aims to improve the health and livelihoods of hard to reach hilltop	Clean Energy for Health Kenya (I)	20,367	6,868	(17,718)	(9,517)	-	-
communities of Jajarkot District,	Clean Energy for
Nepal. Solar powered water lifting	Health Kenya (II)	11,640	136,998	(18,648)	-	-	129,990
will enable communities to irrigate their crops and increase their income	ENRICH	(8,008)	15,861	(16,845)	8,992	-	-
as a result of increased produce.	REALiZE	238,536	58,280	(277,197)	-	-	19,619
The water will also be cleaned using solar powered fltration providing	TREATS	99,037	14,074	(99,798)	(8,992)	-	4,321
access to clean water for drinking	UREKA	133,898	36,365	(102,986)	-	-	67,277
and handwashing for communities and particularly school pupils, having positive impacts on health and school attendance.	E4WASH Carbon Ofset Class Connect E4 ICE Kenya	209,271 100,000 - - -	50,541 - 143,726 258,945 113,674	(127,127) - (45,970) (120,307) (61,022)	- (100,000) - - -	- - - - -	132,685 - 97,756 138,638 52,652
	Carbon Ofset Programme -		1,281,800	(837,477)	(444,323)	-	-
	Clean Energy for
	Health Scale Up	- 825,383	22,490 2,168,121	- (1,772,005)	- (553,454)	- -	22,490 668,045
	Total of funds	1,212,258	2,411,526	(2,349,797)	-	(28,411)	1,245,576

Statement of financial activities 61

60 Annual Report & Accounts 2024-25

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 2024 Income Expenditure in/out/ (Losses) 31 March 2025 £ £ £ £ £ £ 7,676 - - 63,653 - 71,329 569,855 306,741 (548,244) 5,303 1,045 334,700 668,045 1,050,765 (936,075) (68,956) - 713,779
	1,245,576 1,357,506 (1,484,319) - 1,045 1,119,808
	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

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 Total	Restricted Unrestricted Total Funds Funds Funds 2025 2025 2025 £ £ £ - 5,620 5,620 713,779 460,305 1,174,084 - (59,896) (59,896)
	713,779 406,029 1,119,808
	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

18. 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 21. Operating lease commitments Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Dividends, interests and rents from investments Decrease in debtors Decrease in creditors Proft/(Loss) on foreign exchange Net cash provided by/(used in) operating activities Cash in hand Total cash and cash equivalents At 1 April 2024 £ Cash at bank and in hand 1,252,207 Total 1,252,207 Not later than 1 year Later than 1 year and not later than 5 years Total At 31 March 2025 the Charity had commitments to make future minimum lease payments under non cancellable operating leases as follows:	19. Analysis of cash and cash equivalents 20. Analysis of changes in net debt 21. Operating lease commitments Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Dividends, interests and rents from investments Decrease in debtors Decrease in creditors Proft/(Loss) on foreign exchange Net cash provided by/(used in) operating activities Cash in hand Total cash and cash equivalents At 1 April 2024 £ Cash at bank and in hand 1,252,207 Total 1,252,207 Not later than 1 year Later than 1 year and not later than 5 years Total At 31 March 2025 the Charity had commitments to make future minimum lease payments under non cancellable operating leases as follows:	2025 2024 £ £ (126,813) 61,729
		4,430 7,386 (11,399) (12,983) 1,119 231,979 (20,393) (16,642) 1,045 (28,411)
		(152,011) 243,058
		2025 2024 £ £ 1,106,396 1,252,207
		1,106,396 1,252,207
		At 31 March Cash fows 2025 £ £ (145,812) 1,106,395
	1,252,207	(145,812) 1,106,395
	minimum lease	2025 2024 £ £ 26,483 9,817 33,704 1,854
		60,187 11,671

22. Related party transactions

During the year the trustees donated £26,705 to the charity. No donations were made by trustees during the prior year. No conditions were attached to these donations.

During the prior year, a donation totalling £5,000 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. No donations were made by the company this year and there are no outstanding balances at the end of the year.

Wt4.

064 Annual Report & Accounts 2024-25Contact us

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