REGISTERED COMPANY NUMBER: 11569012 (England and Wales)
REGISTERED CHARITY NUMBER: 1183711
Re
rt of th• Trust••s and
Financial Statements
For The Year Ended 30 June 2025
for
PEC Tr￿t
tc
accounts . Tax . lega! . frrkincial planning
3 Acorn Bu51ness Ctrtre
Cosham
Hzmpthi
KlrW

PEC Tn￿t
R Istered Corn
Numbw. 11569012
Conterrts ol the Financial Statèments
For The Yèar Endèd 30 J￿• 2025
Pag•
Company Informatlon
Report of the Trustees
2 to 6
Report of tho Indgp?ndentAudktor8
statement of Financial AcOvlUes
10
Balan¢* Shogt
11
Cash Flow Statement
12
Notss to th Cash Flow Statement
13
Note5 to the Financlal Statements
14 to 29
D•tsil•d Statement of Flnanclal Acti¥tt
30 to 31

PEC Trugt
islpred Com
Number. 11569012
an
Information
ForThe Year Ended 30 June 2025
TRUSTEES:
J Baley
W Burnyeat
M Chaanda
P Hanlman
l HulclKxoft
K Van Bussel
T Ebr911
O Ryies
C Tumef
Z Sydenh
J Mccarty
BANKERS:
The c￿ative Bank- UK
PO Box 29)
Bwness Customer Service Centre
POBox2
Delf House
Skelmersdabe
SOLICITORS:
FootAnstey
San Quay House
4NEQuay
Sutton Harb)ur
Plym(xrth
PL4 08N
SECRETARY:
G P8ele
REGISTERED OFFICE:
orfir* 37
Geneys Building
235 Union Street
P1yE￿Uth
Devon
PL1 3HN
REGISTERED NUMBER-
111569012 (England and Wales)
AUDITORS:
TC Group
Statutory A￿lit0
HarSComl￿ House
1 DarkLake View
Ptymou
Devon
PL6 ThL

PEC Trust
Numb8r. 11569012
R•
ol the Trustees
For The Year Ended 30 June 2025
Tr8 trust8&s who ara also d1￿ct￿S of the d￿rity for the purpos05 of Ihe Companies Act 2C(hS. presenl their report with
the financial stalements of the charity lor the year ￿ded 30 JU￿ 2025. The trustees have adopted Ihe provisions of
A¢¢ounting and Reporting by Charities: Slalemènt of Recommended Pracice applicable to charities preparing their
ccounts in accordarr£ with thè Finanaal standa￿ 3￿b￿ble in the UK and Republic of Ireland IFRS 102)
(effective 1 January 20191.
OWECTIVES AND ACTIVITIES
Objectives and alms
OUT group and charity's purposes as set Ixrt in thè obpds (X)nta￿ed in the company's artides are to promote sustainable
development for the benefft ofthe public by thè-.
la} Preservation. conservation and the protection ofthe environment and the pr￿nt usè of rèsOur￿s.
Ib} Relief of pov￿ and the pteseNation and wolection of ￿1th by wcfft)ling tho efficient use of energy and utilisation
of renewable scrtjrces ¢% energy-, and
Ic) Adv3neÈment of ed￿tion in subjects relating to gJstainat4e devdoprrwl and the protection, enhancernenl aTh
rehabilitslion of the environwnent and to promote S￿dY aThY re5earth in sAJth subj8ds provid&J that the u5efrJl results of
such study are disseminated to the puljic at Lgrge
This translatés into the d&livery of acbvities on the foll¢M￿n9 aims:
To bling ILxal people and organisations togelher to Wle fijet and Ihe dimate uisis.
To iwKrease local ovmership and influence over kxal energy sduthons
To i￿reaSe community Conf￿nCe to enwe in energy issu0$
To énable p￿p18 to heat and power th￿r homes affordably
To reduce greenhouse gas emissions
To ensure these ￿tIVitieS bwjefftthè fijel rkior and most vuln8rab
Publlc benefit
The Trustees have considered Iho guid￿￿¢ issued by 1he Charity CorrmissN)n in resFe¢t of the public and
C0nffim￿d through Iheir ￿1￿l￿e5 and objecbves that they athwe lo thi% guidan￿.
ACHIEVEMENT AND PERFORMANCE
During 202412025 we havo worked in fv fdlMng a￿3$..
Maintairmng a tÈ8m of skilled Energy Advisors delivering a mrA of energy and fuel debt advice either over the phontt,
in thè home or within the commLmity. in ￿rtI￿lar th)se who are the ￿K>s1 vulnerable
Developed and established a one stop shwHub for in petson erwgy a(fvI￿ and supwrt to community partne[8
Dèlivery of thè govammenis HousetKJtder SupM F￿d grants arNJ fl￿ Y￿erS to the neediest within
the ￿MMU[mty
Fac1itati￿ the uptake of building retrofit measures to prwd¢ renthyable heat and prhyer, and energy èfficièncy
improvements in homes across Ihe city.
Working In partnership with the k￿1 authority lo help resid*ts access Hcthe Upgrading grants for retrofit measur¢s.
Outreach a￿1 engagern￿t work wth our ne￿ of local partners induding Four Greens Community Trusl, CtrÈns
Advic6 Bureau. Livewell South West.
Working th business arKI partners A170SS thè to enhan￿ cOllab￿at￿)n to rrnake faster progress towards zero
carbon
The success we have with eadj of tI￿se programmes is doojmented in our Annual Report and impact statement.
FINANCIAL REVIEW
Financial po¥ition
The group. wtth the aid of sound finanaal management and the supwt of tjoth its staff and volunteers, gerEraled a very
posibvefinartial outcome for period ending 30 June2025wtlh reseNes 1￿c￿a51n9 to £1,826,120 (Charity.. £1,831,208).
Including payments rec￿Ved ahead of totalling £215.309. This leaves £963.894 (Charity £￿,982) unrestiicte
reserves.
The principal sources offijndiny have béen a mthjrg of grants from EnenJy Ind4slry Voluntary Redrèss Schèmè, National
Lottery Community Fund. Plymouth City Council. atMI others wrth contract income $￿ured mainly from National Grid and
more recently from Wales artd West ub"1￿.eS. The group is afvlays seeking new or additional sourres of lunding to not be
reliant on loo few furKling sourcès.

PEC Tnwt
Èstered Com
Number. 11569012
ofthe Trustees
ForThe Year Ende(130 June 2025
FINANCIAL REVIP
Reseryes pollcy
The RestrKted Reserves are listed bel¢>￿ and indudè provtsion for irKa)me paid or granted in advance of spend where
outstanding actrwties and commitments wll te inoJrr&J or delivewl in the frAlowng fi￿nry81 year and evidenced by the
Grant Funding Agreements.,
Year ending 30 June 2025
RestrietÈd Funds..
Household Support Fund 7
The wry overof unspent monies
£247,987
Emesettle Communty Solar
In￿me rerEiv&l in a(fvance of spend
£6l￿,000
Big Lottery Wami aThJ Well 2
Income pawj in advan¢* up to 31 Augusl 2025
£14,239
Total Restrlcted Funds
£862,228
Wrthin the Unrestricted reserves we have set asidè furmls to prwde ffnanual stability and the means for the development
of our prinapaj activity. We intend to maintain our reseNes at a Iwei which is at least equivalent lo 3 monlhs staffing
costs al existing levels and a further 3 months staffing costs for kèy staff. Last years reserve policy has been reviewed
and increased to £4￿.000 in acCOrdar￿ with lh¢ growth of Ihe group {2024. £300,TrXI Additionally, the group is
holding £55,Crf)O to cover general overheads arvj inft3SttuthJrB c¥)sts suth as IT. in6urance. marketing, audit etc12024:
£50,aOOI.
The Trustees also feel very strongty that some of the unrestr￿ed rgseNes wil ￿ set aside for the following areas"
Research and develowient. particularty in the lurtherarKe of l¢)w energy solutions and the creation of more
sustainable eneryy opportuThties in P￿Mouth. A SLM of £30.(YJO has been set aside for this.
The Board have also ¢onsidered the step th8nges bw.ng made as the charity grows rn maturity and stiè 8nd
approved a request to undemite the potential shorttall in funding for ihe e$la￿lShment and ouffitting of th6 new eity
centr• Hub. A provision of £20.0(K) has been identified forthis.
-The Board und￿Stand th* $(Kne individual hOUse￿)IdS require emerg￿ry carè and repair measures before they
propeity bell¢fft from or ￿ eligiiAe for support . For this reason the Board wish to sot aside £20.￿0 to provide
this kind of emergency supptKt
T￿re is also wovisim for the investment in staff trainng. and to ensure an established core and developmental
training tnalrix ¢%n be implemented for all staff. £10.rJ)) has been set a￿de forthis purpose.
The Board considets the above reserves. vthith in summary lo equale to £585,OW. will help providè a rèasonablè buffer
whilst de81ing with short term fvnding and the impacl of potential delays in govemment pdiry. The trustees wish to be
prudènt in their financial planning lo ensure that PEC Trust continues to achieve the Su￿9 that il does and Gontinugs
it5 glowth in Community eneryJy sector.
The Board will review the amount of reserves thal are required quarterty to en$ur8 thal they aré adequate to ￿lfil our
tonh"nuing ebligations and protect the sustainabilty of PEC Trust as an organisation and a key player in the delivery of
the litywide low carbon energy tsrgets This duty is fulfilw as part of the receiving and consideration of quarterly
management accounts alongside ￿p￿ated 3 year budget forecasts. The trustees understand the thallenge ahead where
the cxjrrenl 3 yeaT forecasts show an increasiw levd of uThJertunding. Thè resèrvÈs put aside for the purposes described
above wll be increased should the year on year fundino OPPMXtunities retnain bek)w laryel. This is not necessarily
expècted bul there rnay be a short term dip that wll need to be o)vered. For these reasons the Iruslees are mindful of
their responsibililies to provide financial support to PEC Management serv￿ Ltd foi fvtuie redundancy payments
should they need to take such ac*on. £15.[￿ of res8rves be put ashlè for this purpose.
Free reserves are funds that can be spent on any oftho 9￿Up5 aims. T8kn"ng unrestn.cled reserves and accountiTrJ for th8
funds set aside and the reseNes p￿iCY discussed above, Ihe group has free reserves Of￿,894 {2024.' £522,205) which
excludes th• ras&rves Of thè subsidiary c)f £38.42212￿4..£46,Sl4).

EC Trust
Istered Corn
Numb•r. 11589)12
Re ort of the Trustees
For The Year Ended 30 June 20
FINANCIAL REVIEW
The reasons ts the level of reser¥¢s tequi￿ are..
la) PEC Trust wants to ensur• that as a fairty re￿tty fotrned group aTrJ charity. Ihere arè suffic*nt reseNes to proted il's
continued èxiytents, and not preS￿IlrO a risk of insofvency or act as a deterwt lo polenlial donors from donating rf its
viabilty is under threat. The income strearns are not guaranteed and often in slK)rt duration. The Charity is rA)mmit*éd to
the continuiig devdopment and delivery olinc*eased inteNentions arNJ benefftsto the publicand commur¥iies. The stsffing
establishment has been increased on a pem￿nent basis to ￿loW for suth grovrth in a sustainable Thanner. Due to
untértainties over future funding slreams, the Board of TnJ*ees have approved a 3 year bL¥Jget Ihal 811ows for the free
res$Nes built up to date. lo be deptoyed .as necessary ovet this per￿, to uThknpin fvrture funthng gaps.
Ibl Insuffiryenl res$Nes may cause the group lo spend much time and eff￿l dealing the problems of Insuffic￿nt
working capital rath¢r than getb.ng cn viti the main purwjw of the group whith rnay hinder planning and development of
its prime objectives
The 8oard of Trustees will keep the ￿ve1 of Unrestrided reserve5 under revw e¥h year lo avoid conllict Mnth the n8ed
forthe group lo appty its inccmmebyithin a reasMsb￿ timeand not to creale an unnew%sary level of reserves atthe expense
of its benefiaaries eith￿ current or trture.
Going eone•rn
The group plans to ccrtinue the a(*vities 0ullthi￿ at*)¥e in the for11K(￿ll￿g years subject to Sxiisfxctw funding
aThangernèrrts. The group will continuè to grow and nurture the PEC tamity braThl and ethos in Ihe quest t¢ dellver its
obj¢ctAies and maximise the benefit lo th¢ and C(￿rnun1￿e$.
STRUCTURE, GOVERNANCE AND MANAGEMEP
Govgrning document
The group is o)ntrolled by its goveming doojmenl. a deed oflwst. and constitutesa ￿mitedCOMpany, litntted by guarantee.
as defjned by the Cc#npani¢s Act 20(￿.
The group consists of 8 charitable company limited by guarathee and a prr¥ate limited cfjmp8ny limiled by share., the
charitable eornpany limit8d by guarantee was in¢xxporaled on 14 September 2018 and registered as a charity on 4 Junè
2019. The ¢oynp￿Y was established under a Memorandum of Assccation which established the objects and ptrwers of
the charitable wmpany and is govemed undér ils ￿*￿e$ of Association. In event of the company being wound up
members ale required to C￿tribute an a￿￿Unt not exceedi)g £1. The private limited company limited by shares was
incorporat8d on 10 May 2022. The company vras estatlished under a Mernraftdum of Association which estsblished th8
obj&ets and powers of the o)mpany atMI is govemed under its Artide5 of As8(v"atw)n. In the event of the (x)mp8ny being
wound the parent tharity is entilled to 8ny and all diStri￿t￿)n5 avaikqble.
Major risks hav8 ￿en reviewed arKI syst￿5 or prO￿￿re$ have been èslaNish8d to manage these risks.
RocruStment and appolntsnent of nèw trusto8s
Th¢ directors of the cornpany are also charity twstees fcf the pUrp￿S of (*arity law. Under the wuii¢ments of the
Memorandum and Artides of Asswatiorh Ihe CLYnposibon ofthe Board providès for nol ￿s$ than three and no more than
twèlv8 direclors..
- Up t¢ six directors elected from thÈ memb8fS
- Up to one dir8Ctor as represÈntatNe app¢inted by Plymouth City Coun(il or any suc￿Ss0r body
- Appointed as a director ex offiry"41 the holderof the office of Ghief Execlrtwe ffhis has not been implernented at this stage)
- Up to four directors appointed by the Board by cwiK
The Board may also at any fjll a casual vacancy on the Board by c(Fopl￿1n. At the first annua general meeting all
direclors were requiwl lo Sta￿ down. At subsequenl annual genèral meetings one Ihird o)fthe etected direclors shall retire
from offjce, bein9 th¢ longest serving one5. Co-opted diréetots shal reiire at Ihe annual general meeting but be eligible for
lurther C￿0p110n
All directors give their time voluntarity and there is no r8muneration paid.

PEC TTr￿t
i$terÈd Com
Number. 11569012
rt of the Trustees
ForThe Year ErTrd￿ 30 June 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Inductlon and tralning ol new trustses
The more traditional businoss skn.lls are well represented on the Board. In the event of particular S￿lIS being lost due to
retirements, individuals are approathed to offer Ihemsefves for ekntion. The Tnjsteès have rècèntty partiopated in a Skills
Audit which has demonstrated th* the Charrty has a faidy evenly balarttd distribution of th11s. However training and
support wll te offered in areas whÈrÈ the Survey resutted in Ihe kmr scores.
Most truslees are already familiar wrth Ihe pra(J"cd wort of Ihe tharity. The charity organises an Away day ol the Board
alter each annual general meeting and tak&5 measures to ensure that new trustees are suitabty in(AJeted ar￿ familiar with
the charities objects, policies and activities. This day tx>vers the Otligat￿ of a trusiee. the main doojments whi¢h set OLrt
tho operational framework for the tharity induding MemtsraThlum and Articjes, resourcirKJ aThJ the current ffinwncial
position as sel out in the latest published accounts.
Naw tru$to0s ￿Ceive induction and are supw1ed tr) understand the (klaikd finan￿ and rnanagement accounts.
aKhough these are ahYay5 a¢￿)Mpan￿ by an explanatory narrative.
Rèlated partiès
The charity forms part of a family of entities kn￿￿n as PtymrArth Energy Cfxnrnunty. They comprise of the following..
PEC Management So[vi￿3 Limited (Comparry ￿rnited by shares and VA￿1￿ owned subsidiary of PEC Trust 14098558)
Plymouth Energy Community (Community Benefit Sooety 32108)
PEC Ren￿ableS (Community Benefft Society 32286)
Erneseitle Communty Solar Limited (Crynpwry limited by shares and wlwjlty (>￿¢￿ subsidiary ot PEC Renewables
09892557)
PEC Homes (Community Benefit SoGiety 8356)
PEC Homes Development Limited (Company Limrted by shares and whoEty Own￿ subsidiary of PEC Homes 14161 $12)
Chelson Meadow Community Solar { Company Lmited by shares and owned by PEC Renewables and 5Q% oWn￿j
by Plymouth City Council 15255143}
REFERENCE AND ADMINISTRATIVE D￿AlLs
Registered Company number
11569012 (England ar￿ Walés)
Regi5t8red Charity numbgr
1183711
Règlstèrèd office
Office 37
Gonesis Buikling
235 Union Street
Plymouth
Devon
PL1 3HN
Directors
l Hutchc40ft
O D Ryles
J Holliland (resigned 1.12.24}
K Van Bussel
P Hardman
T Ebbrell
W Burnyeat
M Chaanda
Z Sydenham
J Bailey
T Briars-Delve {resigned 16.5.251
C Turner (appointed 18.3.25)
J Mccarty lappoint¢d 31.7.25)
Chi?f ExBCUtivg Officer
A MacPhèrson
Company Secretary and senior management
G Peele

PEC TrI￿t
Number. 11569012
R•
rt of the Trustees
For The Year Ended 30 Juné 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Audltors
TC Group
Statultxy Auditors
Harscombe House
1 Darklake
Plyrnouth
Devon
PL6 7TL
STATEMENT OF TRUSTEES. RESPONSIBILITIES
Thè trustees (who are a150 the directors of PEC Trust f￿{he purpos9$ of wnpary law) are responsible for preparing the
Report of the Trustees and the financial stat&ments n ac£ordan¢x with ap￿￿ble Law and United Kingdom Accounting
Standards {United Kingdom GÈn8rally Accepled Aco)Lmting PraGtice).
Company law re(yJires the Injstees to prepare fina￿￿al statements for eath ffinanaal year which give a tru8 and fair view
of the state of affairs oflhe d)arttable company ofthe incoming resour￿ and appl￿tion of rÈsourees, induding the
In￿Me and expe[￿rtUrè. of th8 charitsble company for that period. In preparing those financ481 statemonts. the trustees
tre rerwired lo
select suitable aC￿u￿b"n9 pclwies and then #ppty them ￿nSIstenty".
obseNe the methods and principles in the Charity SORP-
makejudgÉm6nts and estimates that are reasonabk and prLvJent".
prepare th¢ financial statements on the going (x)nf*m ba￿S unless it is inappruprpte lo presume that the ¢h8ritsble
company will wntviue li bu%rEss.
The tmste8s are responsible ￿r keewny proper accounting records disdose wlth reasonable aoxracy al any time
the financial position ofthe charrtable company and to enatle them to ensure that the fina￿la1 statements comply with the
Companies Act 2CQ6. They are also rèsponsible for safeguardiTrJ ￿ assets of the charitable and hen¢e for
taking reasonable steps the prevenb'on and ￿t￿tiOn of frdud and other irregularibes.
In so far as the trustees are avrdrè".
there is no relevant 2udrt irfom)ation of whith the charitabk Gtxnpany's auditors are unaw8re'. and
the trustee5 have tsken all steps that they oughl to have taken to make thems￿VeS aware of any relevant audit
information and to *blish that the auditors are aw* of Ihat information.
AUDITORS
The aLKJitors, TC Group, wlll be proposed for r&apprXntrr￿t at the fortho)ming Annual Genor41 Meeling.
Approved by order of the board of t￿￿teeS on 9 OctoL*r 2025 and signed on its beh81fby."
l Hutthcroft- Trustee

Re
ofthe Inde
ndent Auditors to the MgmbgrB of
PEC Trust
Opinion
We have audited the financial statements of PEC Tnjst (the'chartiabk [￿)mPany? for the year ended 30 June 2025 which
o)mprise the Statement of Financial Activities, the BalatKe SheeL the Cash Fknw Statement and notes to the financial
statements, induding a summary ofsignificant accounting rdioes. The financk41 r6porting fr8m8work that has bèen applied
in their preparation is applicable Law and United KI￿ Acc4)Lmting StarwJarTls (United Kingdowtt Gen¢raly Awepted
Accounting PraCt￿e).
In our cyinion the financial ststements:
give a true and fair￿ewof the slate ofth8 charitable companls affrdirs as at 30 June 2025 and of ts incoming resources
and applicAtion of rèsoureÈs, inclutling Èt5 incorne and expeThliture. for the year then ended:
havè bè8n proptsrty prepared in aCc￿danCe wth United Kirylom GerEraly Acr*pted A￿O￿nting Practice; and
havg boon pr¢pated in a￿[danc9 Wrth th8 reqijiremenls of the Companies Aca 2(￿.
Basis for oplnlon
We coThJucted our audit in a¢xordatKe ￿th Intematicffla Standards on Auditk)g {UIQ (ISAS IUK)18nd applie2blè18w. Our
responsibilities under those standards are furt￿[ descri￿￿ in the ALKlitots' r$sponsibilib"e$ for the audit of th& finanry81
statements sect￿￿ of our report. We are indepeThgent of the tharitable company in a(zordanTr wth the ethical
requirements thal are relevanl to our audit of the financjal statements in Ihe UK. inC￿ding tre FRC'S Ethical Standard, and
we have fulfilled our other ethical responsibilities in att0rdar￿e w¢th these ￿quIrements. We behave that ihe audit
evidenTr we have obtaired is sufficient and apwcyiate to provtyje a basis f¢y oF4nion.
Conclusions relating to going concem
In auditing the finarKial statements. we have rnncluded that Ihe tDJstees' use ofthe going concem basis of accounting in
the preparation of the ffinancial Statern￿lS is apkryriate.
Based on Ihe work we have performed. we have not identified any malerial uncertainties relating to evenls or condibons
that, individually or collectNety, may casl significant doubt on the c*aritable company's ability to continue as a going
cx)ncern for a period ofat least ￿le1ve months from Wh￿ the ffnanual statements are authorised for issu8.
Our responsibilibes and the responsibilities of the tnLStees vAth reS￿t to going o)ncem are described in the relevant
sections of this report.
other infomiation
The trustees are responsible for the other information. The other infomation comwises the infonnation Snduded In the
Annual Report. other than the ffnancial statements and our Report of the Independent Auditors thereon.
Our opin￿n on the fina￿la1 statements does not o)ver th& 0th8r inf0m￿tion and. except to thè éxtènt othÈrwisè èxpliotly
stated in our reporL we do not express any fonn of assurance condusion thereon.
In connedion with our audit of the )InancFal statements. our responsibl￿ty is to read the other infomation and. in doing $0,
cx)nsidèr whether the othèr information is mèterialty inconsistènt wrth the finanual statements or our knowledge obtained
in thè auditor Other￿lse appears to be materially misstated. Ifwe idÈntsfy such matèfkql irttA)nSiSténcbès or apparènt matèrial
mi$statem¢nls. we are required tts delemiine whether th"s gKv¥s rise to a material misstatement in the financial statemtsnls
Ihems¢lves. If, based on the wort( we have performej. we corlduik thal thei¢ is a matsrial misstslemenl of this other
information, we are required to report that faGt. We have nothing to re￿ in ttws regarf.
Opinions an othar mattèrs praSer1b￿ by thè C¢)mpanies Aet 2006
In our opinion, bas¢d on the work ￿dertak￿ in the wurse of the audit..
the iFrfomiation given in the Report of the Trustees foT the fi￿ar￿la1 yeaFforwhth the financ4al staternents are prepared
is consislenl wrth thè finan¢ial statements., and
the Report of the Trusteès has bèèn prepared in acLordanc£ wtih applir2ble legal requirerrents.
Matters on whl¢h we are requlred to report by exception
Irb the light ol the knowledge and understandirig of the charttable company and ts environrnent obtained in the course of
the audit. we hav8 not lden1tf￿d Irt*eri￿ misstalements in the Report ofthe Trustee5.
We have nothing to report in respec* ofthe fo￿o￿￿j matters where the Companies Act 2¢Th requires us to report to you
if, in our opinion..
adequate accountiru re￿r￿S have not been kept or reiums adequate for our audr( have not been received from
branches not visited by us,. or
the financial statements are not in agreement with the accounting records and retums,. or
cèrtain disthsures of trustees. reM￿eratIOn specified by law ar8 not mad&- or
we have not received all the irformation and explanabons we requi￿ for our audit.. or
the trustees We￿ not entitled to take advantage of the small companies exemiA¢on from the ￿quirement Éo preparo a
Strale9ic Report or in preparing the Rewi of the Twstees.

ortofthel
nt Audttors to the Members
PEC Trt￿t
Re3ponslbllities of trl￿tee$
As 8xplained rnore fvlty in the Statement of Tnjstees. Responsit)filli￿. the trustees {vtho are 81so the directors of the
Charitab￿ company for the purws of Company law) are responsible for the preparation of the finar*Aal st8t8ments and
for bel￿ satisfièd that thay give a true fair wew. and for suth intemal control as the trustees delwnine is necessary
to enable the preparation of finarrial statements that are fr•6 from Mat￿la1 misstatefflent. whether due to fraud or errtsr.
In preparing th8 finanoal statements, the truste¢$ 0￿reSportsib￿f01aS5eVSngihe thantab￿ eompanys abilty lo u)ntinue
as a going concem, disdosing. as applicable, maiters reLqled to going concem and using the going (x)ncern basis of
a¢counting U￿esS the trusfres either intend to liquidate the charitswe wpany ortocease Operatior￿, or havè no realistic
altemative but tts do so.
r responsibiliti￿ forthe audlt of ts financial #tatèmants
Ourobjectwes are to obtain reaSona￿e a8suran¢¢ atyjutwhelherthe finarKial statements as a whole are free frorn materyal
misststement. whether due to fraud or error. and to issue a Report of thÈ Indèpéndènt Auditors that includes our opinion.
Reasonabl& assurance is a hvJh level of assuran￿, tr¥Jt is not a guarantee that an aL¥Jit widucted in accoril8nce with
ISAS lu￿ will always detect a maierial misst8tement when il exists. Misstalerllenls can artse from fraud or èrror and ar
considered material if, individually ￿ in the aggregate. tw coukl re8sonabty be expected to influence the e¢onomic
deci&ons of users taken w the basis gf Ihese fina￿al statements.
Th& objeclives ofour audit. in respectto fraud, are.. to idenbfy and ass8sslhe risks of Material misstatemènt of th& fmanaal
slalements due to fraud", to obtain SLrfficient wropriate audil evidence regardiryJ assessed risks of material
misstatement due 1¢ fraud, thr¢u9h designing and implerTEnting appropriate responses: and to respond appropriatsly to
fraud or suspecled fraud idenlth¢d during the audrt. HI7￿er. thè primary responsibility forlhe prevention and detection of
fraud resis with both those tharged wtth govemarrE of the entity and its management.
f)Jr appro8¢h was as follows..
-we identified areas of laws and regulati￿S that cwld reasmabty be expecled to have a material effeci on the financ4al
statements from our seneral commerclal and sedor experien￿, and through discussion the direciors and othor
rnanagèmènt las required by aLbJiting 5tandar(tsl. anttdiscussed vthh thedirectors and oth¢r managementthe policies and
pr¢ceduw regarding Compli￿Ce law5 and regula1¥￿S,.
-we identified the following area5 88 thoso nw)st likdy lo have such an elfwt. health 8nd safety", General Data Prot¢olion
Règulaton IGDPR},' fraud. bribery and cOrrwti￿ and employment law. Auditsng standards hmit tho rEquired audil
proCedU￿S lo identify non-c¢ynpliarts these laws and regulat￿5 lo ¢nquiry of the tmstees and othèr management
and in$pectK)n of regulatory and legal CorrèSp￿den￿. if any.
-we considered the leg818nd regulatory frarnvworks direW 8ppltsble to Ihe financial statements repotting framework
IFRS 102 and the Companies Act 2Q06 and Ihe Charities Act 20111 and the ￿levant ￿[￿pIla￿￿ regulatsons in the UK,.
-we considered the nature ofthe group's owations. theCOntr￿ grmronriiwt and business performartÈ, including the key
drivers for management's rémuneration.,
-we communirnted i(knlified laws and regulation5 thro￿hOUl our team and remained alert to any indications of
noncomptsan￿ throughout the audit".
-we considered the procedu￿ and cOntr￿S 1hat the group h8s estatrAished to address risks idontified. or that otherwise
prevent. deter and dele(X tsLvJ." and h¢7rt senior managemÈnt monitors those programThs arKI wthts.
Based on this understanding we designed ourwdfc procedures to wJerrtify Th)￿MplianCe wilh such laws and regulations.
Where the risk was consid8red to be higher. we performed audrt procedures to address eaeh Klantffied fraud risk. These
procedu￿5 Indud￿.. testing manual journas., reviewing the finanaal statement disdosures and testing lo supporting
docurnentalion.. porforming analytical procedures.. and enquiIing of managemenL and were des¥Jned to provide reasonable
assurarKe that the financk41 statements were free from fraud or error.
Owing to the inherent limrtat1c￿S of an audit. there is an unavoidabte risk that wo may have detected some material
misslaletnent5 in the ￿naTh￿al statements. evèn Ihough we have property pianrwl and perfomed our audrt In accordan
with auditing standards. For exarnple, the further removed non-compliarKewtth laws and regulations lirregulaiiliesl is from
the events and transadions refletsd in the finan￿￿ statwnent5. the less likely the inherently limited procedures required
by auditing standards would identrfy it. The risk is also greater regarding iffegularities occurring duè its fraud rather than
error, as fraud involves intentional C￿cealMenL, foryJery. collusion, omission or misrepresentation. are nol responsible
for preventing non-cx)mplianc& and cannol be expected lo deteGt non-wmpliance with all laws and regulations.
A fvrther description Of our respon&billlsès for th& audit of the ffinanaal staiements 15 10(zled on the Financial Reportiro
Council's website at ￿￿.frC.Org.uklavdltQrs￿Sp￿)slbII.rtle$. This desaipbon forms part of our Report of the Independ¢nt
Auditors.

ort of the Inde ndent Audttors to thè Idambars of
PEC Trust
Us? of our rapgrt
This report is made solely to ts charitable (x)rryatys meml)ers. as a bxty. Tn accordance wtth Chapter 3 ofPart 16 ofthe
Companies Aet 2006. Our aucfft work has been undertaken so ihat we might state lo the charitable company's members
thosè matters we are requir8d to ststè ttslhÉm an auditors. reKx)rtand f￿nOother purpose. To the fvllest extent permitted
by law, we do nol a￿pt or assuJne r￿￿￿sibI1ty to wY￿e other than the cknantable company and the charitable
company's members as a W, for our auditwort. forlhi¥ reporL orforlh¢ cpirmons we have formed.
Neil Stevens ACA FCCA (Senior Stslutw Audit￿)
lor and on bèhalf ofTC Group
Statutory Auditors
HarsCQtnbe House
l Da￿lake View
Ptymouth
Devon
PL6 7TL

PEC Trust
Number. 1158￿12
Consolidated Statement of Financial Activities
Inco
oratin
an Income and Ex
nditure A¢oount
For The Year Ended 30 June 2025
30.6.25
Total
fund$
30.6.24
Total
funds
Unrestrrcled
fi&nds
Restricted
lunds
Not8s
INCOME AND ENDOWMENTS FROM
Donations and legacEs
20.367
611,391
631.758
136,080
CharStablg activities
Sustainable devèlopment
681,965
1.n4,931
2,416,896
2,271.345
InveslnEnt illcome
11286
Total
714.618 ￿22 3.060 940
2,416 174
EXPENDITURE ON
Raising fvnds
IA90
1,490
1,193
Charftable aetivitses
Sustsinable dwelopmenl
747,954
40 2450194
2,301493
Total
1,702240
2 451684
2 302.688
NET INCOMEIIEXPENDITURE)
Transfers betsveen fvnd$
(34.8261
644.082
609,256
113,489
Net movement in ftJnd3
(318261
644,082
609.256
113.489
RECONCILIATION OF FUNDS
Total funds brought forward
998.720
218.144
1216.864
1.103.375
TOTAL FUNDS CARRIED FORWARD
862.226
1 826 120
Th& Th)tes form part of Ihese financial statement5
10

PEC Trust
R Istsr•d Com
Numbèr. 1156901
ConsolidalEd and Chari
Batance Sheet
30 June 2025
Group
2025
Charlty
2025
Group
2024
Charlty
2024
Notes
FIXEO ASSETS
Tangible assets
Investments
14
15
542
41.334
14,285
2,011
54.542
41.335
14.285
2,012
CURRENT ASSETS
Debtors
Cash at bank
16
252.154
1 899 870
267,925
1 838,353
608,759
1 082 382
527,018
1.026,0
I151024
1106,278
1.691.141
1,553,108
CRED￿oRs
Amounts falling due W1￿1n ¢n¢ year
17
(379.429)
13619161
{486.2301
1384,7671
PROV]SIQN FOR LIABILTIES
18
11.017}
{2.3321
NET CURRENT ASSETS
1 202 579
1.168.341
TOTAL ASSEfs LESS CURRENT UABILITIES
1.826.120
1.784.697
1.216.864
1.170,￿3
NET ASSETS
1 826.120
1 784.697
1,216,864
1.170.353
FUNDS
Unrestricièd funds
Rèstrictèd fijnds
19
963,891
922,471
998,719
952,208
TOTAL FUNDS
1826 120
1 764 697
1 1703S3
These financial stalen￿nIS have been prepared in ac(xKdarKe whth the provisions applicable lo cha¥itsble companies
subject lo the small companies regime_
The finanaal statemenls were approved by the Board of Tru51ees and auihorised fr)r issue on 9 Odotrer 2025 8rKI were
signed on its behalf by..
l Hutchcroft- Trustee
O D Ryles- Trustee
The r￿eS forrn part 0fth￿ fffiantial statemènts

PEC Trust
istgred Com
Number. 11569012
Consolidatèd Cash Flow Ststement
r Th Year Ended 30 June 2025
30.6.25
30.6.24
Notes
Cash flows from operaUng actlvltlgs
Cash generated from operalions
Tax paid
858,117
473
184,270
8,396
Nel Gash provided by oper•lt"ng adiwliss
858,590
175,874
Cash flows frorn investlny a¢Ovltlos
Purchase of tangible fixed ass¢ts
Interest received
(52,2491
11.147
110,6781
8,749
N8t cash prowded byl{used inl investing actswb.es
Change in cash and cash equival8nts in
the reporting period
Cash and cash eqyavalents at tho
b&ginning of the reporting ￿rIOd
817,488
173.943
833.271
Cash and cash equivalents at the end of
thè rèporting period
1.899 870
1,082,382
AI 30 June 2025 there is cash at bank of £1,899.870', of th15 £862,226 relates to restrthd reseNes so PEC Trust are legally bound
lo adhere to the restriCt￿rns pL4ced on these funds and canrTrot use them for other Pufposes. For more detail on these restrictions
pleas8 ref￿ to nctrta 20.
The notes form part oflhese f￿ancial ststements
12

PEC Tnmt
islered Com
Number.. 11569012
Notss to Consolidated Cash Flow Slatgment
For The Year Ended 30 June 2025
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTlVtTIES
30.6.25
30.6.24
Net incomg for the reportlng wrfod las por the Statement of Financlal
Aetivitièsl
Adjustments for.
Depreciation charges
Interest received
Déu8asel(Incrèasel in debtors
(Decrease1￿ncrea8e in ¢yedi
609.256
113.488
11.991
112,2861
357,744
108.588
7,273
18,7491
(233,0871
305,325
Nèt cash provided by operatlons
184,270
ANALYSIS OF CHANGES IN NET FUNDS
At 1.724
Cash fl(Y•V
At 30.6.25
Net cash
Cash at bank
1 899 870
1 899 870
Total
1082 382
1 899 870
13

PEC Trust
Number. 11589)12
Notes to the Financial Statsments
For The Year Ended 30 June 2025
ACCOUNTING POLICIES
Basls of prèparing tha financial statemonts
The ffin8rtial statementsof the charttable group. whth is a publi¢ benofft¢rthty uThJer FRS 102, have b88n prepa
in accordance with the Ch8ritiÈs SORP IFRS 1021 'Acc(xJnting and Reporting by Charities". Statement of
Recommended Pracbr£ £p￿1￿bla to charities preparing theira(tsunts in accordance with tho Financial Reporting
Standard applicable in the UK and RepuNic of Irdand {FRS 11Y21 leffectNe 1 Januaty 20191.. Finanual Reporting
Standard 102 Yhe Finarrial Reporting Standard ￿p￿leable u) the UK and Republic of I￿Land, and the Compa￿leS
Act 2006. Thè consolidated and separdle fnanLyal statements have bÈÈn prepared under the historical cost
conventim. Thèse finarrial statemerts indude bolh the separate 8ryJ ts)nsdidated financial 5ts18ma)ts ctrf PEC
Trust.
PEC Trust is a thiitable eThMpany and a benefft ￿tity, limiled by guarantee. rBgistered aThJ incorporated in
England aThJ Wales. The address of the wistered offic£ is gwèn on the charity infr)rmation page on paoe 1 of
these finawal statements. The n8tur& of the Charity's0peratK￿ arewen on page 2 oftres8 ffinanual statements.
The charity constittjies a publ￿ benefit ent'ty as defined by FRS 1 02. The fjnancial siataments have been prepared
in accordance with AccountiTwJ and Reporting by Ghartbes: Statement of Recorntnended Practice applicablè to
eharibes prepariro their ¥￿Unts in ￿CordarKe with thè Financkal Reporting Standard applicable in Ihe UK and
Republic of Irdand IFRS 102) k8sued on 16 July2014 (a$ UFwJated thrwgh Updatè Bulletin 1 published 2 February
2016.
Prlncipal a¢tivities
The charities prinGipal adivibes are as follows".
PrésèN8tion, conservath'on ar￿ the KKgtethon olthe en¥1￿ment and fhe prudent use of resources..
Relief of povety the preservab.on and protection ofhealth by pr{￿noting the efvent use of energy
and ukn"11s8tion of renewable sources of enefgy." and
Advancefflent of education in subiÈets rdaling to gjstwnable devel(wment and the wolection,
enhancement and rehab1ritati￿ of Ihe wwronment and to promot8 sbJdy and researcl) in such subjects
prov¥Jed that the useful resutts of sud) study are di5seminaled to the public at larye
Preparation of consolldated financial stat8m•nts
The consolidated financial statements incorwale the finanryal stat￿ents of the Charitable Company and
8ntiti8s controlled by the Group (rt$ 5ubsidiaryl. Control 15 #thièv￿ where the Group has the power to govem the
finsncial and operating W)lic￿$ of an entity so as to obtain benefits fro¥n its activities. Accounting policies
COll$15tent with those of the p8rent ar8 used and all intra%rwp transacbons. balances, irtcom& and expenses are
eliminated in fvll on Cong￿ld9t￿ln. The fmancia stalements Ix)nsolidate the results of th¢ thaiity and its wholly
owned subsidiary PEC Manogemeni Servi￿$ Limited 8 fine-by-line basis. A separate Statement of Financi
Activities and Incone and Expendtiure A￿￿nt for the ¢h8rity 1$ pre$￿ted in Note 20.
PEC Management Services LImit￿j ts a private company. limtied by share5, registor8d In England and Wales.
The company8 register9d company number 15 14098558 and their princApal xtwib"e5 are human resourcÈs
provisK)n and management of hum￿ resource fiJn(*'ons.
Going Concem
After reviewing Ihè Group's forecasts and pfojei*ons. which cover the 12vfflonth p¢rv)d from the date of Signin9
the finanaal statemen15. the dirECtors have a reasonab￿ expectation that the Group and CharEiable Company
have adequate resources to (yjntinue in operaUon81 èxi5t￿Ce fof the foreseeabk futu￿. The Group therefoie
continues lo adopt the going concem basis in prep8riryJ its consolidated finanrial statements.
Inoomo
Grant incorne re￿gNISed in the ￿anr￿aI Statements using Ihe ac£ruals model. It is recognised once tho chatlty
has enifclement to the funds, it is prob*Ae that the income will be receivèd and the arnount can be measured
reliably.
Donation income is ￿cognised in the finanaal statements once the charty has entitlement to the funds, it 18
probable that the income will bè ￿tte1Ved, and tr￿ ￿OUnt can be measured ￿lIablY.
Contrad income is recogrused in the finanryal stateménts on an accruals basis based on the perfomian¢e of the
charity against the agreed contract. Income is accrued arNJ deferred Ihroughoul the project and the surpluslldefiall
on the projecl is reléaged Up￿ completion. The Sta￿ of completion is derNgd from prO1￿t reports sent by the
contrad provider.
Other incornB is recognised in the fin#nts81 ststements oncE the chartty has entit18ment to the funds, rt is probable
that the income will be received. the amount can be measured reliably.
14

PEC Trust
NLxnber. 11569012
Notos to th• Financial Statements
For The Year Ended 30 June 2025
ACCOU￿rING POLICIES- contlnued
Expènditu
Liabilities are recognisecl as exrenditurea$ 8Cth 8$ theffj is a W or¢oth¢b"ve ¢i)liuation commitknng the charity
lo that expenditure. il is probable that a tr￿SIerof economic benefits wll be required in settlement and the amount
of the obligation CAn be measured retiabty. Expendrtu￿ is accounted for on an accruals basts has been
classified under headings that aggregate all cost related to the category. ￿ere o)sts cannot be directy attributeij
lo particular h¢adings. they have L¢en allcy*d to acli¥it*s on a bass consistent with the use of resources.
Charitable expenditure comprises those ojsts 1ncjj￿ed by the in the delr¥ery ofits #c*Nibes 8nd seNi¢es for
its beneficories.
Governan￿ costs indude those cosls associated vrilh meetiry the Constitubonal statutery requirements and
strategic managem￿1 of the charity.
Support costs are allocated in line wtth the charitable xtivitses.
Financial instrument5
The Group enters into basic financial instrurnenl transadions Ihat rpwll in the reCOgnitK￿ of ffnancial assets and
liabilities like trade and c)ther debtors arky creditors.
Allocation and apportionmènt of costs
I costs rèlatè to thé thantablè activty of ctsmpany and 3r* alkscated againsl charitable actNites on a basis
designed lo refflect the use ofthe reswrce. Apporlionmenl of dirgct tharrtable costs b5 based upon time spent on
each activity.
Support costs arè allocated to Èath aeknty basÈd u￿n estlln8ted time spant on each activty.
Tangible fixed a￿ts
Tangible r￿ed assets are stated at historKal cost less acwmulated depreGkition and any accumulated impairment
losses. Historical cost indudes expendtture that És direi*y attritrxrt3blè to kninging the asset to th8 Iccation and
cOndit￿n necessary frjr it lo be capable of operab.ng in thé manner intended by managemenL
Deprecration is prowded at the folbwng annu￿ rates Tn order lo write off each asset over tt& estitnaled useful life.
Plant and mathirEry
Motor vehides
Computer equipment
Improvements to property
33% cost
25% on rethjong balance
33% on C4)St
10% on (￿t
Taxation
The d)arity is exempt from corporat*)n tax on its charitatrje aC￿￿￿S.
The taxation for the year for the subsidkary IPEC Management ServKes ￿mIted) comprises current and deferred
lax. Tax is reGognised in IncorRe Statement. except to the extent that it relates to items recognised in other
omprehenswe income or directy in equty.
Current or deferred taxation assets and l¢ablities are not diso)unled.
Curronl tsx is r¢Gogniwl at the amtyjnl of lax PaYa￿e using the lax rates and Laws thal have been enacted or
substsntively en￿ed ty the balance sheet date.
Deferred Tax
Deferred tax is recognised in respect of all b.ming differertss that have originated bui not ￿VerSe￿ al the balance
sheet dale.
Timing differer￿S arise from the indU￿Ort of income and expenses in tax ass•ssments in periods differenl from
those in which they are recognised in fin8nfial statements. Def?tr8d tax is measured using tax rates and laws that
have been enacted or substsntivdy enacte(I by the yeai end an¢J th* aro ￿pected lo apply to the reversal of Ihe
timing differerKe.
Unrelieved tax losses and olher deferred tax assets arè rÈtognisÈd onty to thè èxtent that it is probable that they
will ba recovered against the reversal of deferred tsx liabilibes or other ftrture taxablo profits.
15

PE¢ Trust
R l¥1grgd Com
Number. 11569012
Notes to the Flnanclal Statements
For Tho Year Ended 30 June 2025
ACCOUNTING POUCIES- coniinued
Defèrred tsx liabilib.és arè pr&sènted wthin provisions for laknliiies and deferred tax assets within debt0￿.
Fund acc￿￿nting
Unrestricted fuThJs can be used in ac&)rdance with the d￿ritable obiecti"¥e$ at the dI$￿et10n of the trustees.
Restricted funds can onty be used for partular restrtdeil purp05es within the objects of the d)aiity. Restrictions
arise when speafied by the dwor or whèn furtds are raisèd for parbcular mstrthd pu￿Ses.
Further ￿planatity1 of th¢ nature aThJ purpose ofeach fund ￿ irK4uded in the notes to Ihe ￿ancial 3latémènts.
lrniestrnenls
Investm8nts in subsKfiary UndertakIr￿ are recx)grwseJ at ca)st.
nanclal Instruments
The charity mak&s use of basK finanoal instruments onty. Debtors and (¥editors. with no ststed interèst rate. and
receNable or payable within one year are recorded at transactior) prKe. Any k)5ses 81ising fmm impairment are
recognised in expenditure.
Fund accountlng
Further explanation of the nalure and purpose of eath furKI 1$ induded in Ihe notes to tho financial statements.
16

PEC Tru8t
Number. 11569012
Notes to the Financi￿ Ststemen15- continued
DONATIONS AND LEGACIES
30.625
30.6.24
Donatic*)s
INVESTMENT INCOME
30.6.25
30.6.24
Interest ￿k¥able
12.286
INCOME FROM CHARITABLE ACTMTtES
30.6.2S
30 6.24
Actvity
SUStana￿e development
Sustanalje devdoFment
Grants
Contrad irmne
1.738,708
678,188
1,853,394
417.951
1416.896
2.271.345
Grants receNed, induded in the a￿e. are as foltows".
30.6.2S
30.6.24
R¢dr¢ss
Household Support Fund
N8t Grid Wami Homès
PECR Renewables ￿￿ted- recovery ofcosts
Sustsinable Wami (fon￿rtY LAD3)
Warm and ￿11 (from Big Lottety)
LEAD Project
Northeott Devon Foundation- Redress
Fietrofit Credits 23-24
ShaTed Prospwity Furmfing
238.9S7
574.375
3,484
295
214.015
50,314
657.048
220
267.988
382,50D
9,936
370.073
97.723
670,455
477
13,440
14.261
1738 708
1.826.853
RAISING FUNDS
Raislng donations and legacles
30.6.25
30.6.24
Support costs
1,490
1,193
CHARITABLE ACTIVITIES COSTS
Support
costs (see
note n
Direct
Costs
Total5
Sustainable development
2,272,478
177,716
2,450,194
17

PEC Trust
istered Com
Number. 11569012
Notss to the Financial Statements- continued
For The Year Endgd 30 June 2025
SUPPORT COSTS
Govemance
Other
Totals
Raising donation5 and
legacies
SuslairEobl¢ dov¢l¢)prT
1.490
143,765
1,490
177 716
372
11,991
21.588
145.255
372
11,991
21.S88
NET INCOMEI{EXPENDITUREI
Net ir￿OMe1(expeTh￿ll￿reI is stated aftercharginW{¢Jedrfingl:
30.6.25
30.6.24
Auditors, remuneration
Other operating leases
DeprecAation - owned assets
5,920
5,396
11,992
5,245
TRUSTEES. REMUNERATION AND BENEFITS
There were trustees. reMun￿a￿D￿ or other t￿efits for the year ended 30 Jwe 2025 nor for the year endod
30 Jun8 2024.
Tru$tvs' expenses
There wefe Th) tntste&s' expenses paid for Ihe year ended 30 Jure 2025 nor frjr tho yoar ended 3Q June 2024.
10.
STAFF COSTS
The average morthly number of empknyees during Ihe yearwas a$ folbws..
30.6.25
33
11
30.624
29
Employees
Director5
40
The charity hgs 10 ￿￿OyeeS includ&Y in the figures above, are 811 non-remunerated directors.
The CEO of the charity re￿Ved total Temuneralion of £97.W in the year (2024.. £89,488)
No other senior managemenl rewe(I remunÈrÈtion ovÈr£fl).(MX) in thè eurrent year or priof year.
Note Ihal Iruslees do not receive any rernuneiati￿.
18

PEC Trust
Number. 11569012
Not8s to th• Financial Statements - continued
For The Year Ended 30 June 2025
11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES - GROUP
Unr8slricted
fvrmls
RestriGt
furK
TDtal
funds
INCOME AND ENDoWMEP￿s FR
Donations and legaryes
134.480
1.600
136,080
Charitable activities
Sustainabl8 d8velopmant
417.551
1,853.394
2,270,945
Itwe5tJnent in(yJme
8.749
Total
560,780
1.854.994
2.415,774
EXPENDITURE ON
Raising tunds
1,193
Charltablè aetivltlès
Sustainable dovelowenl
199,933
2,101,160
Tot•
201.126
2,101 160
2,302,286
NET INCOMEI{EXPENDITUREI
Transf8rs funds
1246,164)
113.488
Net movement In funts
359,&54
1246,164)
113,488
RECONCIUATrON OF FUNDS
Total funds kKoughl fo(ward
639,C65
464,3
1,103,375
TOTAL FUNDS CARRIED FORWARD
998.719
218,145
1,216.864
12.
PURPOSE OF RESTRICTED FUNDS
Red￿sS grant fvnding is to ddiver woiect work to ￿￿￿er projed wotk in the eity tts support the alleviation offuel
poverty and help deliver retrofrt support ser¥￿eS and te surwrt thè devdopmènt of a ccxmmunty led affordable
housing scheme al Kings Tarnerton, Plymouth.
Plymouth Ckty Councd Green Homeslsustsinable Warm grarkt funding is to be used to defver up to 300 granls to
householders for the installation of energy effiuency measures.
Ptymouth Cty Council HOL￿eh￿d Suppc¥t Fund i5 to (¥eate surwt lo housoh(Ads with d)itdren, households wth
pen&oners, and other vulnefable fr￿USeh￿d5 and indNiduals.
Nat Grid Wam? Homes is a lo￿1 bid to the category 3 element ofthÈ Wam Homès Fund. to cover staffing
costs for 2 years for work with ftjel poor households.
The Big Lottery Warm and Well grant is to develop and embed Wann and Well and maintsin an effectwe, free to
residents, fuel poverty servi￿. Add￿'onal￿ it is to grow the resijlling communty led aCt￿n on fud poverty and
energy as a local, regional and national issue.
IUK Owing for Nèt Zero is fuThJing towards a project to devek)p and enhar￿ city wide o)Ilaboration and r¢s¢4rch
to feduce rxrtjon
Wesl of EnglarKI Cotnbined AuthorityfundirKJ is towardslhe Lcul EnergyAdvice DerncnstratorlLEADI programme
to develop a n8w modd for retrofft adwce seNicè d81ivery across Devon and Comwall
University of Plymouth Retsoffit ¢￿dit 2&24 fundiThJ is to oxph)re the possibility of delivery a retrofit carbon credits
scheme in Plymouth in Gdlaborat4Qn Wtlh partners.
19

PEC Trust
Number. 11S69)12
Notss to Ihe Financial Ststements- continued
For The Year Ended 30 June 2025
PURPOSE OF RESTRICTED FUNDS- cen15nu•d
Northccrtt Oevon Foundaty)n Redress fund*ig was towards the purthase of a new ￿ for a dient
Shared Prosperity Funding for ts creation ofa DIY effici￿LY assessrn¢nl
PECR Renèwablès LimitÈd fundirwJ is for thè rerA)vw ofcosts in rÈlab"on to shar8d ovètheads.
13.
GRANTS TO OTHER ORGANISAMONS
ants paid to olherorganisalKJn5 durirvJ the year were as frllows.
£33,g22 to PEC Renèwables their supprxt w defvery of the Redress EmÈsèttle projècL
14.
TANGIBLE FIXED ASSETS
Group
Improvements
to
property
PLant and
mathinery
Motor
vehides
Computer
equiprnent
Totals
COST
Al 1 July 2024
Additions
18,183
28,683
AI 30 June 2￿25
30.767
13,475
1.000
DEPRECIATION
At 1 July 2024
Charge for year
496
126
5,059
14,398
At 30 June 2D2S
1.OB3
9,937
622
14,748
26,390
NET BOOKVALUE
AI 30 June 2025
29.684
3,538
378
54.542
At 30 June 2024
657
13,124
14.285
20

PEC Trust
istered Com
Number. 11569012
N¢)te8 to tho Financial Statements - continued
For The Year Ended 30 June 2025
TANGIBLE FIXED ASSETS - ¢onYnu
Charity
to
propety
Plant
machinery
Metor
V0h￿tt$
Computer
equipment
Totals
COST
At 1 July 2024
Addib'ons
9,500
3.975
1,000
2.108
8,767
12,608
At 30 June 2025
1.000
DEPRECIATION
At 1 July 2024
Charge fof year
1,259
10,598
4,185
126
At 30 June 2025
622
3.141
NET BOOK VALUE
At 30 Juno 2025
378
41.334
At 30 June 2024
657
5D4
850
15.
FIXED ASSET INVESTMENTS
Th& Charty
Shares in
group
undertakings
MARKET VALUE
Cost
NET BOOK VALUE
At 30 June 2025
At 30 June 2024
There were no investment 8sset$ ¢xJtsid¢ the UK Thts investment ￿lateS to a wholly owned subsidiary dètailèd
further in note 22.
18.
DEBTORS.. AMOUNTS FALLING DUE wrrHIN ONE YEAR
The Group
The Charity
30.06.25
30.￿.24
30.06.25
30.06.24
Trade debtors
Other debtors
VAT
Corporation Tax
Aernjed income
Prepayments
102,218
70,881
17,320
473
46,059
15.203
314.456
76.4
101.824
32,606
81.016
314.782
6.965
200.052
17.755
46.059
46.059
16S,719
252,154
608,759
267,925
527,018
21

PEC Trust
Re
istered Com
Number. 11569012
to the Financial Statements - contin
For Thg Ygar Ended 30 June 2025
17.
CREtMTORS: AMOUNTS FALUMG DUE WITHIN ONE YEAR
The Group
The Charity
30.06.25
30.[￿24
30.06.2S
30.06.24
Trade creditors
VAT
Corporats'on Tax
Acauals and
déferred in(xxllè
86.225
59,121
87.085
42,545
161
382.492
293,204
275,831
342,222
379,429
486.230
362.916
384.767
18.
PROVISIONS FOR UABIUTIES
Group
30.06.25
30.(É.24
DefeNed tax pmwsion
1.017
2,332
D•f•rr•d
Tax
Balar￿ at 1 Juty 2024
2.332
Aec8lèrated CApit81 alklw8r￿eS
Losses carried foA¥ard to ulilise against fulure woffits
177
1.492
Balance at 30 June 2025
1.017
Charity
30.0625
30.(6.24
O¢f¢rred tax pruvi5
Deferred
Balance at 1 July 2024
Accelerated capital alloWan￿S
Balance al 30 June 2025

PEC Tntst
istered C¢Jm
Numbor. 11569012
Notes to the Financial Statements - continuèd
For The Year Ended 30 Junè 202S
19.
MOVEMENT IN FUNDS
Net
movement
Èn funds
At
30.6.25
Al 1.7.24
Unrestrlcted fund
General fund
996,720
134.826)
963.894
Restricted ftJnd$
Household Support Fund
susta￿8b1@ Wami Iformerty LAD31
Warm and Well 2 {from Bo Lottery)
Sha19d PIDsp￿lty FundirvJ
Emesettle Conwnunty Sotar
159.818
3,960
40,10S
14.261
88,169
13,9601
125,8661
114,2611
247,987
14.239
600,￿0
218.144
644,082
TOTAL FUNDS
1216.864
609.256
1.826.120
Net movement in fvThJs. indLhJed in the above are asfdknws..
Incoming
Resourcès
expended
Movement
in funds
Unrestricted funds
Genèral fund
714.618
1749,4441
(34,8261
Re$tri¢ted fund$
R￿lleSS
Household Supwrt FuThJ
Sustainablè Warm {fomierty LAD31
Waim and Wèll 2 Ilrom Big Lottery)
Lead Project
Northcott Devon Foundation
Shared Pr05perity Funding
Emesettle Commuruty Solar
Parily Projects
Green Commur¥li9s
238.959
$74.375
214,015
50,314
657,048
220
1238.959}
1486,206)
1217,97SI
176,180)
(6S7.0481
1220)
1142611
88,169
13,9601
125,8661
{14.2611
600,000
600,000
10,5
891
{10,5001
8911
2.346,322
1 702 240
644,082
TOTAL FUNDS
3.060.940
609 256
23

EC Trust
R istered Com
N￿lber. 11S69012
Notes to the Financial Ststements . continued
For The Year Ended 30 June 2025
19.
MOVEMENT IN FUNDS- contlnued
ComparatIv￿ ft)r movement in funds
Net
Transfers
btheen
movernent
in fvrL(I$
At
At 1.7.23
unrèstrlet￿ fund$
General fund
639.CE5
359.655
998,720
Restrict8d funds
Redress
Housethld Support Fund
Susiainable Wami (forThty LAD3)
Warm and Well 2 {from Big Lottery)
IiJK Owning Netzero
Lead Projed
Rètrofit Credits 2>24
Sh8re(I Prosperity Fl￿ding
163.951
270.817
{163.951)
{110,999)
159,818
3.960
40,105
28.1&2
11.923
(1,3eK)}
14,261
14.261
464 310
246.1&8
TOTAL FUNDS
1.103375
113489
1,21e.864
Cornpa¥aiwe net movement in fijnds. included in the above are a5 fdl¢yws:
I[￿OmIng
r¢sour¢os
Reyources
exr*nded
Movernent
in thnds
Unr¢$trl¢tsd funds
General fund
561.179
(201.524)
359,655
Rostrjctèd funds
Redress
Household Support FurKI
Nal Grid wam hotTES ext
Sustainable Wam {fomedy LAD3)
Warm and Well 2 (from Bw Lottery)
IUK Owning Net Zero
Lead Projecl
Northcott Devon Foundats'on
Retrofit Credits 2&24
Shared Prosperty Fundir
1458,480)
1494,103)
19,936)
1366,1121
{86,7991
11,36Ql
IS70,4551
14771
(13,4401
1163.9S1)
111 D.9991
383,102
9.936
370.072
98.722
3.960
11.923
(1.360)
670.455
477
13,440
14.261
14.261
1,854,99S
2,101.161
248,166
TOTAL FUNDS
2,416,174
,302,6851
113.489
24

PEC Trust
istered Com
Nwnbèr. 11569)12
Notes to the Financial Staternents - contlnued
For The Year Endad 30 June 202S
19.
MOVEMENT IN FUNDS- con￿nUed
A current year 12 rnonths prKY yèar 12 months combined is as follows:
Nel
m¥ÈmÈrtt
Transfers
At
30.6.25
At 1.723
funds
Unrestricted funds
General fund
&39,rfi5
352.723
991,788
Rgstrict•d fvnds
Redress
H￿SehOld Support Fund
Sustainable Werrn Ilormerty LAD3}
Wami ar￿ Well 2 (from Big L•)
IUK fvning Nel Zero
Lead Proje
Retrofit Credits 23-24
Emesettle Community Solar
163.951
270.817
(163.951)
(48.01n
222.8CKJ
28,182
(13.942)
(1,360)
14,240
464.310
372.730
837.040
TOTAL FUNDS
1.103,375
725.452
1.828.828
A current year 12 months and prior year 12 months fX)mbir*d net movement in fvnds. ind￿jed in ttp abovè arè
as lollows=
Incoming
resources
Resources
expended
Movetnenl
in fun¢Js
Unrestrlctsd funds
GenÈfal fund
1,331.IK)5
(978,283)
352,722
Ro¥tricted funds
Warm Homes Fund
Redrés>
Housèhold Support Fund
Nat Gild watm homes ext
Sustainable Wam) Ifomiety LAD31
Warm and W8112 (from Lottery)
Lead Projeet
IUK Owning Nel Zeto
Northcott Devon Foundation
Retrofit CTedtts 2&24
Shared Prosperity FundFng
Emesettle Community Solar
3.483
13,4831
(697,4391
(1.005,4941
19,9361
{584,0871
{162,9781
{1.327.503)
{1.360}
{69n
113.4401
1142611
1163,951)
148,0171
957.477
9,936
584,087
149.036
1.327,503
(13,942)
11,360)
697
13,44CI
14.261
600.000
4,1934D8
3.820.678
372.730
TOTAL FUNDS
5.524,414
4.798 9811
725 452
25

PEC Trust
Number. 11569012
to the Financial Statements- contin
For Thg Year Ended 30 June 2025
20.
INDIVIDUAL STATEMENT OF HNANCIAL ACTMTIES
The Charity
30.6.25
Totsl
lund¥
30.6.24
Total
funds
Unrestrict&Y
ftjnds
ReslrKted
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
20.367
811,391
831.758
156,398
Charltsble activities
Sustainable devel<)pment
528.083
1,734,931
1263.014
2,104,672
Investment irtc()mè
12.286
12.286
8,749
Total
560,736
2.346,322
2,907N58
2.269.819
EXPENDITURE ON
Raising funds
1.490
1,490
1.193
Charltable aotivitie3
Sustainable dÈvèlopménl
588.9B4
1.702.240
2391324
2.161.706
Total
590,474
1.702.240
2.292,714
2 162899
NET INCOMEIIEXPENDITURE)
Transfer between funds
(29.738)
644.082
614,344
108,920
Net movement in funds
(29.738)
644,082
614,344
10S,92D
REcONCIL￿TroN OF FUNDS
Totsl funds brought fi)rward
998.720
218,144
1.216.864
1,Q63,433
TOTAL FUNDS CARRIED FORWARD
968.982
862,226
1.831.208
1.170,353

PEC Trust
i¥tsred Com
Number. 11569012
Motes trj the Financial Statements- ¢ontinue(I
For Tht Y•ar Ended 30 Jung 2025
21.
GROUP STATEMENT OF FINANCIAL posinom
The Group
30.6.25
Total
funds
30.6.24
Total
funds
Unreslrided
nds
Re8trithd
fvnds
Noles
FIXED ASSETS
Tangibl¢ a￿ts
15
54.S42
54.542
14,285
CURRENT ASSETS
Debtors
Cash 8t bank
17
224.851
1.064,002
27.303
835.868
252,154
1899 870
e08,759
1,082,382
1288.853
863,171
2,151024
1,691,141
CREDITORS
Amoun15 falling due one year
18
1378.4841
194SI
1379.4291
I486,￿0)
PROVISION FOR LIABiunES
11.0171
{1.017)
12,332}
CURRENT ASSETS
909.3S2
862,226
1771 $78
1,202,579
TOTAL ASSETS LESS CURRENT LIA8ILinES
%3.894
861226
1,826,120
1.216.864
NET ASSETS
963,894
1 826.120
FUNDS
20
Unrestrtcted fvnds
Rèstricted funds
963.894
B62.226
998,719
218,145
TOTAL FUNDS
22.
SUBSIDIARY TRADING ACTIVITIES
Th& charity owns of the company, PEC Management Servii*s Ltd 14098558 whose r￿Istered Offi￿ ts Office 37,
G¢nesis Building, 235 Union Street, PIymoLJlh PL1 3HN opérates a Nmber of comtnercial ventures on behalf of
the tharily. PEC Management Services Ltd is ir￿uded in these o)n¥oÉidated accounts. Iks trading results forthe year
extracted from the fiy)anaal statements arè summarised bd¢Nf'.
30.06.2S
30.0624
Turnover
1.2S1W1
1,119.25e
Wages and Salaries
{963.4191
{860,9101
Social Security Costs
{100.5461
159,533)
P8nsion Cos15
182,0671
181,5671
Oeprecialion and other amounts wriiten off assets
(7.8061
13.223}
Other charges
1107.2311
{106,424}
T8xatBJn
1,476
11611
R8t8ined losslprofft
7,438
27

PEC Trust
istefed Corn
Number. 11569012
Notes to th• Financial Ststements - continu
For The Year Endgd 30 JLne 2025
23.
ASSETS AND LIABILlnES OF THE SUBSIDIARY
30.06.25
30.06.24
Flxed assets
Tangible assets
13,208
11,740
Currant assels
Debtors and (xsh al bank
114049
112,018
Creditors
Amounts falling due vitthin on year
188.817)
175,446)
Net assèts
48,312
Represented by:
capit￿ and Reserves
26.232
48.312
24.
RELATED PARTY DISCLOSURES
£5.969 was rèeeived by PEC Trust from PEC Managemenl Services Ltd. a whdty ¢wmed subsirfory of PEC
TIust12024.. Nil) for the recovery of cost$.
£3.288 ￿re received by PEC Trust from PEC R￿e￿able$ Ltd forwhKth there are directors in common (2024..
£4791 for th8 recLlVèry of costs.
£2,800 wer¢ i¢ceived by PEC Twst from PEC Fkjmes Lld forvthith there are dire¢tors w oxnmon12024.. Nil)
for the recovery of costs.
Donations of£6QO.000 wèr8 rècÈNed by PEC Tr￿st from Em¢s¢ttte CommuTrty &lar Ltd fcrf which thère are
diredors in ccxnmon12024.. £125.OCX)I.
At the year end ther& is a balance of £6,CQJ owed by PEC Trust lo PEC Management serV￿s Ltd12024..
£251, a wholly owned Sub￿dIary of PEC Trust PEC Trustwa5 ow¢d £393 by PEC Management Servicès Ltd
at the year end12024. £3761.
PEC Trust incurred expenses of £1,105,782 frorn PEC Manag6m8nt SÈrvic£s Ltd R024'. £1,119.8761, this
indudes £2.766 for insurance, £51,IY23 IT so￿aTe costs and £1.1￿7.933 workforce recharges.
25.
OTHER FINANCIAL COMMITMENTS
PEC Management Services Ltd entered into an operating ￿se commitrnent during the year. The amount due
wEthin 12 months is Nil. P024- £2,500)
26.
TAXATION - GROUP
Analysls of the tax charge
The tax charge on the profft f(￿ the year was as fo11tr￿..
30.0625
30.08.24
Current tax..
UK cgiporation ta¥
473
161
28

PEC Trust
i8tsred Com
Numbor. 11569012
Notes to the Financial Statements- continuèd
For The Year Ended 30 June 2025
TAXAnoN . ¢ontlnu•d
Total ojrrent tax
1473}
161
DèfeFred tsx
In
2.￿2
Tax on profft
2,493
Th6 drfferen￿$ arÈ reccmciled belt7W:
30.06.25
30.[￿.24
Total surplus
609.256
113,488
Corporation tax at stsndaid rate
Effect of charitable activikn.es exempt from tsx
Effect of capital alkwanees arKI deweciation
Tax1osses Garried fort¥ard
152.314
(154.337}
1236}
26.324
(25,416)
1.585
Tax wofit
296
2,493
29

PEC Trust
Number. 11S69012
Detailed Ststement of Finan¢ial Activities
For The Y
nded 30 June 2025
30.6.25
30.6 24
30.6.24
Group
Charity
Group
Charity
INCOME AND
ENDOWMENTS
DonatSons and legaci•s
Donations
631.758
631.758
136,080
156,398
Invostmènt incom?
Interest
12.286
12.286
8.749
8.749
harStable activities
Grants
Other grant income
Contrad income
1.738,708
1,733.312
1.853.394
1.853,394
678.186
2.416,896
3,060,940
529,702
2.263.014
2.907.058
417,551
2,270,945
2,41 5,774
251,278
2 104,672
2,269,819
Totsl Fncomlng rpsourcos
EXPENDITURE
Charltable acl¥iti¢s
Rent
Subcontractors
Consulbw)g
Crisis arKI repair
Workforce recharges
Wages and Salaries
Social Securtty
Pensions
Lg9al and prctrfe8sional fees
Fuel vouchers
Mthitè goods
Gas safety repaws
Credit customer
payments
Grants lo other
organisations
5,396
659,525
5.3
659,525
567,138
22.875
64.571
567,758
22.875
64.570
911,828
79.203
79.203
1.044,D12
989.644
.346
81,829
55,024
93.822
3.588
847.238
90,335
76.752
48,925
117,632
18,183
11.361
188.140
45.3(
93.822
42.379
117,￿2
18,183
11,361
175,308
175.S)8
33,922
188,140
33.922
28.999
28.999
Workshops
2,272,478
2,145,641
2,158.594
2.043,562
Support costs
Management
Insurance
Telephone
Postage and
8tationery
Advertising
Subscrrptions
Vehiole lease
IT software and
nsumaNes
Staff training
Sundry
Donations
Entertainmènt
Offico Costs
Rent
10.912
4.382
1.052
8.*9
3.￿2
1,257
4.650
1.052
1,190
15.913
3.239
1.973
15.913
2,414
1,973
60.918
21.537
21,238
1,800
2,728
60,082
2.949
46.428
15.584
1,186
2.314
10,349
4,480
3,846
2,261
1,663
17.985
4.104
17.985
20
145,255
126.146
119,947
103,390

C TTU¥t
n H￿i￿r. 11￿9012
Detailed Statement of Finandal Actl¥ltl•s
For The Yèar Endod 30 June 2025
30.6.25
.6.25
30.6.24
30.6.24
Group
Chaiity
Grnup
Charity
Finance
Bank charges
372
281
303
other
Short Leasehold
Plant and mathinery
Motor vehides
Computer equipmenl
2,270
657
126
8,938
11.991
2.270
657
126
3,167
168
3.928
7.273
3,167
168
e29
3,964
4.185
Governance costs
Auditors. ￿mUnerath¢)n
Accountancy fees
5.920
5,920
6,750
12.670
5.245
5,245
6,435
11.680
21.588
16,468
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2,163,300
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609.256
614344
113.488
106,920
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