##
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##
|Trustees||Sandra
Elizabeth|Walmsley|Walmsley|Walmsley|||
|---|---|---|---|---|---|---|---|
|||Fabio Silva Nehme||(Chair)||||
|||Charlotte
Emma|Powell (Resigned 11June 2023)|||||
|||Gareth John Williams|||(Vice|Chair)||
|||Karen Shearer (Appointed||||19April 2022)||
|Chief Executive Officer||Adrian
Ramsay||||||
|Charity Number||1165752||||||
|Company|Number|10119873||||||
|Registered|office|First Floor Violet|3Sci-Tech|||||
|||Daresbury||||||
|||Warrington||||||
|||United
Kingdom||||||
|||WA4 4AB||||||
|Auditor||Saffery Champness||LLP||||
|||71Queen Victoria Street||||||
|||London||||||
|||EC4V 4BE||||||
|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)|1-21|
|Independent|auditor's
report|||22 —25|
|Consolidated|statement
offinancial|activities||26|
|Consolidated|balance sheet|||27|
|Charity balance sheet||||28|
|Consolidated|cash flow statement|||29|
|Notes to the|financial statements|||30-44|
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|For the year ended|31Dece|mber 2022||||
|---|---|---|---|---|---|
|||||Year|Year|
|||||ended|ended|
|||||31December|31December|
|||||2022|2021|
|||||Unrestricted|Unrestricted|
|||||funds|funds|
||||Notes|||
|Income from:||||||
|Other trading
activities||||5,450,082|3,156,305|
|Bank interest received||||486||
|Investments||||133,267|104,727|
|Total income||||5,583,835|3,261,032|
|Expenditure
on:||||||
|Raising funds:||||||
|Other trading
activities||||3,408,504|2,578,991|
|Fundraising
activities||||33,111|33,641|
|Charitable
activities||||647,596|638,117|
|Total expenditure||||4,089,211|3,250,749|
|Net income/(expenditure)||before investment||||
|movement||||1,494,624|10,283|
|Net gains/(losses)
on investments||||(776,298)|446,220|
|Net income and movement||in funds||718,326|456,503|
|Reconciliation
offunds:||||||
|Total funds brought|forward|||7,172,865|6,716,362|
|Total funds carried|forward|||7,891,191|7,172,865|
##
|||||2022||2021||
|---|---|---|---|---|---|---|---|
||||Notes|6||||
|Fixed assets||||||||
|Tangible assets|||12||207,397||25,229|
|Investments|||13||4,626,744||5,306,613|
||||||4,834,141||5,331,842|
|Current assets||||||||
|Debtors|||14|961,460||565,025||
|Cash at bank|and in|hand||2,903,785||1,927,249||
|||||3,865,245||2,492,274||
|Creditors: amounts||falling due within one||||||
|year|||15|(748,195)||(651,251)||
|Net current|assets||||3,117,050||1,841,023|
|Total assets|less current liabilities||||7,951,191||7,172,865|
|Provisions for liabilities|||||60,000|||
|Net assets|||||7,891,191||7,172,865|
|Funds||||||||
|Unrestricted|funds||||7,891,191||7,172,865|
|Total funds|||||7,891,191||7,172,865|
##
##
##
|||||||2022||2021||
|---|---|---|---|---|---|---|---|---|---|
||||||Notes|6||||
|Cashflow from operating|activities|||||||||
|Net cash flow used in operating
activities|||||20||1,150,030||(226,313)|
|Cashflow from investing|activities|||||||||
|Purchase oftangible fixed assets||||||(220,253)||(8,467)||
|Proceeds from disposal oftangible||fixed|assets|||9,922||||
|Purchase of investments||||||(1,237,853)||(1,032,211)||
|Proceeds on disposal of investments||||||1,141,424||938,755||
|Income received from investments||||||133,267||104,727||
|Net cash generated
from/(used
in)||investing||activities|||(173,493)||2,804|
|Net increase/(decrease)|in cash and cash equivalents||||||976,536||(223,509)|
|Cash and cash equivalents|at beginning||ofyear||||1,927,249||2,150,758|
|Cash and cash equivalents|at end ofyear||||||2,903,785||1,927,249|
|Relating to:||||||||||
|Cash held in bank|||||||2,590,972||1,615,769|
|Cash held in current asset|investment||||||312,813||311,480|
||||||||2,903,785||1,927,249|
##
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|Leasehold|improvements|20'/ per annum|straight|line basis|
|---|---|---|---|---|
|Plant and|equipment|25'/o per annum|straight|line basis|
|Office equipment||20'/o per annum|straight|line basis|
|Computer|equipment|25/o per annum|straight|line basis|
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##
|||||Group||
|---|---|---|---|---|---|
|||||Yearended|Year ended|
|||||31December|31December|
|||||2022|2021|
|||||E|6|
|MCS|Service|Company|income|5,450,082|3,216,911|
|MCS|Service|Company|expenditure|(3,408,504)|(2,579,192)|
|Rank|interest|received||486||
|||||2,042,064|637,719|
##
##
|||||Group||
|---|---|---|---|---|---|
|||||Yearended|Year ended|
|||||31December|31December|
|||||2022|2021|
|||||E|6|
|Turnover||||5,450,082|3,216,911|
|Administrative|expenses|||(3,408,504)|(2,579,192)|
|Bank interest|received|||486||
|Profit/(loss)|before taxation|||2,042,064|637,719|
|Gift aid payment||to MCS Charitable|Foundation|(596,737)||
|Net profit/(loss)||for the year||1,445,327|637,719|
|Fixed assets||||207,397|25,229|
|Current assets||||3,322,744|1,914,009|
|Current
habilities||||(717,956)|(631,894)|
|Provisions for liabilites||||(60,000)||
|Net assets||||2,752,185|1,307,344|
|Income from|Investments|||||
|||||Group||
|||||Year ended|Yearended|
|||||31December|31December|
|||||2022|2021|
|||||6|E|
|Dividends
from||investments||133,267|104,727|
##
##
|||||Group||
|---|---|---|---|---|---|
|||||Yearended|Year ended|
|||||31December|31December|
|||||2022|2021|
||||||asrestated|
||||||E|
|Investment|manager|fees||33,111|33,641|
|Expenditure|on charitable||activities|||
|||||Group||
|||||Year ended|Year ended|
|||||31December|31December|
|||||2022|2021|
||||||as restated|
||||||E|
|Project management||and|dehvery costs*|308,169|373,010|
|Support costs||||||
|Staff costs||||197,554|123,637|
|Travel costs||||14,752|4,146|
|Accountancy|fees|||4,900|9,631|
|Other costs||||91,628|52,543|
|Governance|costs|||||
|Trustees'
expenses||||3,296|1,110|
|Audit feesv'||||12,627|9,981|
|Other costs||||||
|Legal &professional||fees||10,056|40,059|
|Consultancy|costs|||4,614|24,000|
|||||647,596|638,117|
##
##
|||||||||Year ended||Yearended|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||31|December 2022|31|December 2021|
||||||||Grants|Programmes|Grants|Programmes|
||||||||E|6|E|E|
|Development
and Policy|||||||||||
|Net Zero New Build (Good Homes|||Alliance)||||||13,500||
|Superhomes|Rating Scheme|(Nationol||Energy|||||||
|Foundotron)|||||||||15,000||
|Energy Sleeving Pool (Bristol City Council)|||||||||9,555||
|The Community
Energy Revolution|||(Power|||for|||||
|People)|||||||5,000||5,000||
|Accelerator|Cities (UKGreen|Building||Council)|||25,000||15,000||
|Decarbonising
Heat in Scotland's|||Buildings|||(WWF|||||
|Scotland)|||||||15,000||15,000||
|Supply Chains (War on Want)|||||||||8,445||
|Community|Capacity
Building||||||||||
|Zero Carbon|Pansh Planning|Tool|(Herefardsbire||||||||
|Green Network)|||||||14,580||23,190||
|Zero Carbon|Parish Planning|Tool|(Westminster||||10,000||||
|Accelerating|Local Response|(Ashdenj|||||16,266||53,687||
|Launch Pad|Network (Somerset Ckmate Action||||||||||
|Group)|||||||||10,000||
|Renewables|Done Well (CPRE)||||||8,000||||
|BigSolar Coop (Sharenergy
Cooperative)|||||||12,900||||
|Accelerating|the uptake ofrenewable|||energy and|||||||
|low carbon|technology
in a multi-tenure||||industrial||||||
|estate (Wee)den District Council)|||||||11,200||21,200||
|Ambleside to Zero AtoZ (Ambleside
Action||||||for a|||||
|Future)|||||||||7,000||
|g|Comm
tvE e|gy(|||||||||
|Energy London)|||||||||9,380||
|Community|Energy Planning|(Centre for|||||||||
|Sustainable|Energy)||||||||10,000||
|Community|Energy Planning|(South East|||London||||||
|Community|Energy )||||||20,000||||
|Community|Energy Planning|(Community|||Energy||||||
|England)|||||||5,900||||
##
|6|Expenditure
on charitable||activities|activities|(continued)|(continued)|||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||yearended||yearended|
||||||||31|December 2022|31|December 2021|
||||||||Grants|Programmes|Grants|Programmes|
||||||||E|E|E|E|
||Research and Consumer|Information|||||||||
||Value ofSolar Homes (Solar Trade|||Association)|||||20,000||
||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)||||||40,000||10,000||
||Heat Pumps
Now (Carbon|Co-op)|||||10,000||15,000||
||Rebuilding
the Low Energy||Buildings||Database||||||
||(Association
for Environmental
Conscious||||||||||
||Buildings)||||||10,000||20,000||
||Domestic Heating
briefing|paper (imperial||||College|||||
||London)|||||||||38,940|
||VAT Research
(M HA Tait|Walker)||||||||6,000|
||MP Survey (You Gov Picj|||||||||4,992|
||Repowering
London||||||30,000||||
||Solar Energy
UK||||||13,823||||
||PEC Trust||||||15,000||||
||University
of Oxford||||||10,000||||
||Cornwag
Insight Limited|||||||11,400|||
||Skills and Education||||||||||
||Net Zero Skills Builder (Archbishop|||Council||of|||||
||Church ofEngland)||||||5,800||5,000||
||MCS Skills, Competency
&Training|||project|||||12,121||
||Association of Decentralised||Energy||||10,500||||
||Green Finance||||||||||
||Conservatives
Environment||Network|||||7,800|||
||||||||288,969|19,200|323,078|49,932|
||||||||308,169||373,010||
##
##
|Group||
|---|---|
|Year ended|Year ended|
|31December|31December|
|2022|2021|
|E|E|
|44,153||
|44,153||
##
|Net income/(expenditure)
for the year is stated after|chargmg:||
|---|---|---|
||Yearended|Yearended|
||31December|31December|
||2022|2021|
||E|E|
|Audit fees|24,850|19,450|
|Depreciation|28,164|7,980|
||||Yearended|Year ended|
|---|---|---|---|---|
||||31December|31December|
||||2022|2021|
||||E|E|
|Fees payable to the|charity's|auditor for the audit ofthe charity's|||
|annual accounts|||9,400|7,950|
|Fees payable to the|charity's|auditor for other services:|||
|Audit ofthe charity's|subsidiary||15,450|11,500|
|Accounts preparation|||5,800|5,275|
||||30,650|24,725|
##
|Group||
|---|---|
|Year ended|Year ended|
|31December|31December|
|2022|2021|
|Number|Number|
|41|32|
|||Group||
|---|---|---|---|
|||Year ended|Year ended|
|||31December|31December|
|||2022|2021|
|||E|E|
|Wages|and salaries|1,547,129|1,013,912|
|Social|security costs|165,865|86,326|
|Other|pension costs|114,841|77,648|
|||1,827,836|1,177,886|
|Group||
|---|---|
|Year ended|Year ended|
|31December|31December|
|2022|2021|
|Number|Number|
##
##
##
||Leasehold|Plant and|Office|Computer||
|---|---|---|---|---|---|
||improvements|equipment|equipment|equipment|Total|
||E|E|E|E.|E|
|Cost||||||
|At 1January 2022|14,526|370|3,701|20,682|39,279|
|Additions|188,440||6,675|25,138|220,253|
|Disposals|(14,526)|(370)|(2,379)|(989)|(18,264)|
|At 31December 2022|188,440||7,997|44,831|241,268|
|Depreciation||||||
|At 1January 2022|5,696|222|1,117|7,015|14,050|
|Charge for the year|19,570|39|606|7,949|28,164|
|Elimated
via disposal|(6,423)|(261)|(1,103)|(556)|(8,343)|
|At 31December 2022|18,843||620|14,408|33,871|
|Net book value||||||
|At 31December 2022|169,597||7,377|30,423|207,397|
|At 31December 2021|8,830|148|2,584|13,667|25,229|
##
|||2022|2021|
|---|---|---|---|
|||E|E|
|Listed investments||4,551,744|5,231,613|
|Mixed motive investments*||75,000|75,000|
|||4,626,744|5,306,613|
||Mixed motive|Listed||
||investments|investments|Total|
||E|E|E|
|Valuation||||
|At 1January 2022|75,000|5,231,613|5,306,613|
|Additions||1,237,853|1,237,853|
|Disposals||(1,141,424)|(1,141,424)|
|Gain on revaluation||(776,298)|(776,298)|
|At 31December 2022|75,000|4,551,744|4,626,744|
##
|Listed investments
at f|air value comprise:|||
|---|---|---|---|
|||2022|2021|
|||E|f|
|Fixed interest||1,507,051|1,396,804|
|UK equities||1,074,422|1,286,353|
|Overseas equities||1,256,318|1,792,534|
|Alternatives||538,173|598,514|
|Cash within investment|portfolio|175,780|157,408|
|||4,551,744|5,231,613|
##
|Debtors|||||||
|---|---|---|---|---|---|---|
||||Group||Charity||
||||2022|2021|2022|2021|
|Amounts
falling due within||one year:|E|f|f|E|
|Trade debtors|||633,053|322,361|||
|Amounts
due|from subsidiary|undertaking|||5,074|4,500|
|Other debtors|||58,165|15,354|||
|Prepayments|and accrued income||270,242|227,310|15,066|14,292|
||||961,460|565,025|20,140|18,792|
|Creditors: amounts
falling due within one year|||||||
||||Group||Charity||
||||2022|2021|2022|2021|
||||E|f|E|f|
|Trade creditors|||188,918|50,766|13,914|5,164|
|Other taxation and social security|||261,904|147,129|||
|Other creditors|||13,854|10,033|||
|Accruals and|deferred income'||283,519|443,323|21,400|18,693|
||||748,195|651,251|35,314|23,857|
##
##
##
|*Accruals|and deferred
income includes the following
move|ments
in deferred
income:||
|---|---|---|---|
|||Group||
|||2022|2021|
|||E|E|
|Deferred|income|||
|At 1January||115,305|146,925|
|Released|in the year|(45,135)|(71,085)|
|Deferred|in the year|45,855|39,465|
|At 31December||116,025|115,305|
||2022|2021|
|---|---|---|
||6|E|
|Within one year|105,984|43,920|
|Between two and five years|379,800|3,660|
||485,784|47,580|
##
|||2022|2021|
|---|---|---|---|
|||E|E|
|Dilapidations||60,000||
|||60,000||
|Movements|on provisions:|||
||||Dilapidations|
||||E|
|Other movements|||60,000|
##
##
|Reconciliatio|n
of net income|to net cash flow from operat|ing
activitie|s|||
|---|---|---|---|---|---|---|
||||||Group||
||||||2022|2021|
||||||E|E|
|Net income|for the reporting|period (as per the statement|offinancial|activities)|718,326|456,503|
|Adjustments|for:||||||
|Investment|income||||(133,267)|(104,727)|
|(Gains) / Losses on investments|||||776,298|(446,220)|
|Depreciation|and impairment|oftangible fixed assets|||28,164|7,980|
|Movements|in workmg capital:||||||
|Increase in debtors|||||(396,435)|(340,554)|
|Increase in creditors|||||96,944|200,705|
|Increase in|provisions||||60,000||
|Net cash flow from operating||activities|||1,150,030|(226,313)|