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|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||||||
##
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|---|---|---|---|---|
|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|
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|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.||
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|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|
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|||||||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||
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|||||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.||||||
##
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##
||||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||
##
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|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|
##
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|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|||
##
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||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|
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|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)|