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2021-12-31-accounts

Trustees Sandra Elizabeth Walmsley Sandra Elizabeth Walmsley Sandra Elizabeth Walmsley
Fabio Silva Nehme (Chair)
Charlotte
Emma Powell
Gareth John Williams (Vice Chair)
Magdalena
Zarowiecki
Karen Shearer (Appointed 19 April 2022)
Chief Executive Officer Adrian
Ramsay
Charity Number 1165752
Company Number 10119873
Registered office Suite G40 Innovation Centre
Keckwick Lane
Daresbury
Warrington
United
Kingdom
WA4 4FS
Auditor Saffery Champness LLP
71Queen Victoria Street
London
EC4V4BE
Solicitor Bates Wells and Braithwaite London LLP
10Queen Street Place
London
EC4R 1BE
Bank CAF Bank Limited
25 Kings
Hill Avenue
Kings
Hill
West Mailing
Kent
ME194JQ
Investment advisors Rathbone Greenbank
10Queen Square
Bristol
BS14NT

Page
Trustees'
report (including statement		 oftrustees' responsibilities) 1-18
independent auditor's
report		 19-22
Consolidated statement
offinancial		 activities 23
Consolidated balance sheet 24
Charity balance sheet 25
Consolidated cash flow statement 26
Notes to the financial statements 27-40

investments 5,307 4,767
Cash and short-term deposits 1,927 2,151
Exclusions* -75 -50
Total 7,159 6,868
"Exclusions consist ofmixed motive investments that are considered illiquid.

Forthe year ended 31 Dece mber 2021
Year Period
ended ended
31December 31December
2021 2020
Unrestricted Unrestricted
funds funds
Notes f f
Income from:
Other trading activities 3,156,305 1,137,464
Investments 104,727 87,855
Other income 18,555
Total income 3,261,032 1,243,794
Expenditure
on:
Other trading
activities		 2,578,991 1,369,164
Charitable
activities		 671,758 275,132
Total expenditure 3,250,749 1,644,296
Net income/(expenditure) before investment movement 10,283 (400,502)
Other recognised gains/(losses):
Net gains on investments 12 446,220 752,239
Net movement
in funds		 456,503 351,737
Reconciliation
offunds:
Total funds brought forward 6,716,362 6,364,625
Total funds carried forward 7,172,865 6,716,362

2021 2020
Notes f
Cashflow from operating activities
Net cash flow used in operating
activities		 (226,313) (464,171)
Cashflow from investing activities
Purchase oftangible
fixed		 assets (8,467) (6,001)
Purchase of investments (1,032,211) (538,726)
Proceeds on disposal ofinvestments 938,755 427,747
Income received from investments 104,727 87,855
Net cash generated
from/(used
in) investing		 activities 2,804 (29,125)
Net decrease in cash and cash equivalents (223,509) (493,296)
Cash and cash equivalents at beginning ofyear 2,150,758 2,644,054
Cash and cash equivalents at end ofyear 1,927,249 2,150,758
Relating to:
Cash held in bank 1,615,769 1,541,947
Cash held in current asset investment 311,480 608,811
1,927,249 2,150,758

Group
Year ended Period ended
31Docarnbar 31Docsmber
2021 2020
f f
MCS Service Company income 3„156,305 1,156,019
MCS Service Company expenditure (2,578,991) (1,369,164)
577,314 (213,145)

Year ended Year ended Period ended
31December 31December
2021 2020
f f
Tumovei' 3,216,911 1,265,456
Administrative expenses (2,579,192) (1,381,390)
Profit/(loss) before taxation 637,719 (115,934)
Gift aid payment to MCS Charitable Foundation (471,846)
Net profit/(loss) forthe year 637,719 (587,780)
Fixed assets 25,229 24,740
Current assets 1,914,009 1,064,838
Current
liabilities		 (631,894) (419,954)
Net assets 1,307,344 669,625
Income from Investments
Group
Year ended Period ended
31December 31December
2021 2020
f f
Dividends
from		 investments 104,727 87,855
All Income from Investments In the current and prior year was unrestricted.
Other income
Group
Year ended Period ended
31 December 31December
2021 2020
f f
Government grant 18,555
All other income in the prior year was unrestricted.

Group
Year ended Period ended
31December 31December
2021 2020
f f
Project management and delivery costs* 373,010 140,863
Cost ofgenerating funds
Investment manager fees 33,641 22,534
Support costs
Staff costs		 123,637 51,186
Travel costs 4,146 264
Accountancy fees 9,631 5,040
Other costs 52,543 16,859
Governance costs
Trustees' expenses 1,110 1,080
Audit fees** 9,981 12,706
Other costs
Legal &professional fees 40,059 24,600
Consultancy costs 24,000
671,758 275,132
Year ended Period ended
31 December 2021 31 December 2020
Grants
f		 Progra mmes
f		 Grants
f		 Programmes
f
Development and Policy
Net Zero New Build (Good Homes Alliance) 13,500 13,500
Superhomes Rating Scheme (IVational Energy
Foundation) 15,000 15,000
Energy Sleeving Pool (Bristol City Council) 9,555
The Community
Energy Revolution		 (Power for
People) 5,000
Accelerator Cities (UKGreen Building Council) 15,000
Decarbonising Heat in Scotland's Buildings (WWF
Scotland) 15,000
Supply Chains (War on Want) 8,445

Year ended Period ended
31 December 2021 31 December 2020
Grants
E		 Programmes
f		 Grants
f		 Programmes
f
Community
Capacity Building
Zero Carbon Parish Planning
Tool		 (Merefordshlre
Green Network) 23,190 11,370
Accelerating
Local Response (Ashden)		 53,687 22,968
Launch Pad Network (Somerset Climate Action
Group) 10,000 10,000
Renewables
Done Well (CPRE)		 15,000
Integrating
Community
Energy (Community
Energy London) 9,380 10,000
BigSolar Coop (Sharenergy
Cooperative)		 4,500
Accelerating the uptake ofrenewable
energy and
low carbon technology
in a multi-tenure
industrial
estate (Wealden District		 Council) 21,200
Ambleside to Zero AtoZ (Ambleslde Action for a
Future) 7,000
Community
Energy Planning
(Centre for
Sustainable
Energy)		 10,000
Research and Consumer
Information
Consumer
scoping study		 22,000
Value ofSolar Homes (Solar Trade Association) 20,000 15,000
Housing Archetypes
& Heat Pump
Deployment
(Plymouth
Community		 Energy) 20,000
Zero Carbon Schools (Green Schools Project ) 5,000
Measured
Savings, Better Outcomes (Energy
Systems Catapult) 10,000
Heat Pumps Now (Carbon Co-op) 15,000
Rebuilding
the Low Energy Buildings Database
(Association for Environmental
Conscious
Buildings) 20,000
Domestic Heating
briefing paper (imperial
College London) 38,940
VAT Research
(ivlMA Tait Walker)		 6,000
MP Survey (You Gov Pic) 4,992
Skills and Education
Net Zero Skills Builder (Archbishop Council of
Church ofEngland) 5,000 2,200
Green Schools Project 10,000
MCS Skills, Competency
&Training		 project 12,121
Other programmes (10,675)
323,078 49,932 129,538 11,325
373,010 140,&63

Net in com e/(expenditu re)
for the year is stated after charging:
Year ended Period ended
31December 31December
2021 2020
E f
Audit fees 19,450 19,950
Depreciation 7,980 4,477
Auditor's remuneration
Year ended Period ended
31December 31December
2021 2020
E E
Fees payable to the charity's auditor for the audit ofthe charity's
annual accounts 7,950 7,950
Fees payable to the charity's auditor for other services:
Audit ofthe charity's subsidiary 11,500 12,000
Accounts preparation 5,275 6,605
24,725 26,555

Group
Year ended Period ended
31December 31December
2021 2020
Number Number
32 23
Group
Year ended Period ended
31December 31December
2021 2020
f f
Wages and salaries 1,013,912 569,871
Social security costs 86,326 41,244
Other pension costs 77,648 47,130
1,177,886 658,245
The number ofemployees
receiving total employee
bene
than f60,000were as follows:		 fits (excluding employer
pensions costs and employers		 Nl) ofmore
Group
Year ended Period ended
31December 31December
2021 2020
Number Number
E60,001-E70,000
E70,001 - f80,000
E90,001 - 6100,000

Leasehold Plant and Office Computer
improvements
f		 equipment
f		 equipment
f		 equipment
f		 Total
f
Cost
At 1January 2021 14,526 370 2,379 13,537 30,812
Additions 1,322 7,145 8,467
At 31December 2021 14,526 370 3,701 20,682 39,279
Depreciation
At 1January 2021 2,791 130 509 2,640 6,070
Charge for the year 2,905 92 608 4,375 7,980
At 31December 2021 5,696 222 1,117 7,015 14,050
Net book value
At 31December 2021 8,830 148 2,584 13,667 25,229
At 31December 2020 11,735 240 1,870 10,897 24,742
The Charity had no tangible fixed assets in the current or prior year.
Fixed asset investments {Group and Charity)
2021 2020
f f
Listed investments 5,231,613 4,716,937
Mixed motive investments" 75,000 50,000
5,306,613 4,766,937
Mixed motive Listed
investments investments Total
f f f
Valuation
At 1January 2021 50,000 4,716,937 4,766,937
Additions 25,000 1,007,211 1,032,211
Disposals {938,755) (938,755)
Gain on revaluation 446,220 446,220
At 31December 2021 75,000 5,231,613 5,306,613

Listed investments at fair value comprise:
2021 2020
f f
Fixed interest 1,396I804 1,184,250
UK equities 1,286,353 1,252,171
Overseas equities 1,792,534 1,556,532
Alternatives 598,514 454,363
Cash within investment portfolio 157,408 269,621
5,231,613 4,716,937

Debtors
Group Charity
Amounts
falling due within		 one year: 2021
f		 2020
f.		 2021
f		 2020f
Trade debtors 322,361 164,147
Amounts
due		 from subsidiary undertaking 4,500
Other debtors 15,354
Prepayments and accrued income 227,310 60,324 14,292
565,025 224,471 18,792
Creditors: amounts falling due within oneyear
Group Charity
2021f 2020 2021
f		 2020
Trade creditors 50,766 35,694 SI164 13,615
Other taxation and social security 147,129 69,913
Other creditors 10,033 6,572
Accruals and deferred income* 443,323 338,367 18,693 16,977
651,251 450,546 23,85? 30,592

*Accruals and deferred income includes the following movements in deferred income:
Group
2021 2020
f f
Deferred income
At 1January 146,925 181,680
Released in the year (71,085) (90,495)
Deferred in the year 39,465 55,740
At 31December 115,305 146,925

2021 2020
f f
Within one year 43,920 43,920
Between two and five years 3,660 47,580
47,580 91,500

Reconciliatio n ofnet income to net cash flow from operat ing
activiti		 es
Group
2021 2020
f f
Net income for the reporting period (as per the statement offinancial activities) 456,503 351,737
Adjustments for:
Investment income (104,727) (87,855)
(Gains) / Losses on investments (446,220) (752,239)
Depreciation and impairment oftangible fixed assets 7,980 4,477
Movements in working capital:
(Increase) / Decrease in debtors (340,554) 63,229
Increase / (Decrease) in creditors 200,705 (43,520)
Net cash flow from operating activities (226,313) (464,171)