2023-07-31-accounts - Energy Poverty Research Network

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Fuel Poverty Research Network

Charity No. 1185345

Company No.

Trustees' Report and Unaudited Accounts

31 July 2023

Fuel Poverty Research Network Contents

	Pages
Trustees' Annual Report		1
Independent Examiner's Report		2
Statement of Financial Activities		3
Summary Income and Expenditure Account		4
Balance Sheet		5
Statement of Cash flows		6
Notes to the Accounts		7
Detailed Statement of Financial Activities		8

Page 1

Fuel Poverty Research Network Independent Examiners Report

Independent Examiner's Report to the trustees of Fuel Poverty Research Network

I report to the charity trustees on my examination of the financial statements of Fuel Poverty Research Network for the year ended 31 July 2023.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

T Lappage FCCA Nabarro Poole Ltd 31 Church Road Northenden Manchester

M22 4NN 03 June 2024

Page 2

Fuel Poverty Research Network Statement of Financial Activities

for the year ended 31 July 2023

Restricted funds 2023 £ 5,000	Total funds 2023 £ 5,000	Total funds 2022 £ 24,354
5,000 20,318 6,515	5,000 20,318 6,515	24,354 12,380 27,999
26,833 -	26,833 -	40,379 -
(21,833) -	(21,833) -	(16,025) -
(21,833)	(21,833)	(16,025)
(21,833) 40,468	(21,833) 40,468	(16,025) 56,493
18,635	18,635	40,468

Page 3

Fuel Poverty Research Network Summary Income and Expenditure Account

for the year ended 31 July 2023

Income Gross income for the year Expenditure Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year	2023 £ 5,000 5,000 26,833 26,833 (21,833) (21,833)	2022 £ 24,354
		24,354
		40,379
		40,379
		(16,025)
		(16,025)

Page 4

Fuel Poverty Research Network

Balance Sheet

at 31 July 2023

Company No. Notes 2023 £ Current assets Cash at bank and in hand 18,635 18,635 Net current assets 18,635 Total assets less current liabilities 18,635 Net assets excluding pension asset or liability 18,635 Total net assets 18,635 The funds of the charity Restricted funds 9 Restricted income funds 18,635 18,635 Unrestricted funds 9 Reserves 9 Total funds 18,635	2022 £ 40,468
	40,468
	40,468 40,468
	40,468
	40,468
	40,468
	40,468
	40,468

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 July 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 05 June 2024

And signed on its behalf by:

G. Sherriff Trustee 03 June 2024

Page 5

Fuel Poverty Research Network Statement of Cash flows for the year ended 31 July 2023

Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Decrease in trade and other payables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances	2023 £ (21,833) (5,000) - (26,833) 5,000 5,000 - (21,833) 40,468 18,635 18,635 18,635	2022 £ (16,025) (24,354) (495)
		(40,874) 24,354
		24,354

		-

		(16,520)
		56,988
		40,468

		40,468

		40,468

Page 6

Fuel Poverty Research Network Notes to the Accounts

for the year ended 31 July 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Income
Recognition of	Income is included in the Statement of Financial Activities (SoFA) when the charity
income	becomes entitled to, and virtually certain to receive, the income and the amount of
	the income can be measured with sufficient reliability.
Income with related	Where income has related expenditure the income and related expenditure is
expenditure	reported gross in the SoFA.
Donations and	Voluntary income received by way of grants, donations and gifts is included in the
legacies	the SoFA when receivable and only when the Charity has unconditional
	entitlement to the income.
Tax reclaims on	Income from tax reclaims is included in the SoFA at the same time as the
donations and gifts	gift/donation to which it relates.
Donated services	These are only included in income (with an equivalent amount in expenditure)
and facilities	where the benefit to the Charity is reasonably quantifiable, measurable and
	material.
Volunteer help	The value of any volunteer help received is not included in the accounts.
Investment income	This is included in the accounts when receivable.
Gains/(losses) on	This includes any gain or loss resulting from revaluing investments to market value
revaluation of fixed	at the end of the year.
assets
Gains/(losses) on	This includes any gain or loss on the sale of investments.
investment assets

Page 7

Fuel Poverty Research Network Notes to the Accounts

Expenditure Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 8

Fuel Poverty Research Network Notes to the Accounts

3 Statement of Financial Activities - prior year

3 Statement of Financial Activities - prior year
Income and endowments from: Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Other income Grants Received 5 Expenditure on charitable activities Expenditure on charitable activities Grants made Governance costs	Restricted £ 5,000 5,000	Restricted funds 2022 £ 24,354 24,354 12,380 27,999 40,379 (16,025) (16,025) (16,025) 56,493 40,468 Total 2023 £ 5,000 5,000	Total funds 2022 £ 24,354
			24,354 12,380 27,999
			40,379
			(16,025)
			(16,025)
			(16,025) 56,493
			40,468
			Total 2022 £ 24,354
			24,354

	Restricted £ 20,318 20,318	Total 2023 £ 20,318 20,318	Total 2022 £ 12,380
			12,380

Page 9

Fuel Poverty Research Network Notes to the Accounts

6 Analysis of grants

Activity or programme Main Charitable Activity Activity or programme Main Charitable Activity 7 Other expenditure Event Management General administrative costs Legal and professional costs 8 Staff costs No employee received emoluments in excess 9 Movement in funds Restricted funds: Restricted income funds: Total Unrestricted funds: Total funds	of £60,000. At 1 August 2022 40,468 40,468 40,468	Grants to Individuals £ 20,318 20,318 Grant funding of activities £ 20,318 20,318 Restricted £ - 176 6,339 6,515 Incoming resources (including other gains/losses ) £ 5,000 5,000 5,000	Total 2023 £ 20,318 20,318 Total 2023 £ 20,318 20,318 Total 2023 £ - 176 6,339 6,515 Resources expended £ (26,833) (26,833) (26,833)	Total 2022 £ 12,380
				12,380
				Total 2022 £
				12,380
				12,380
				Total 2022 £ 20,530 35 7,434
				27,999
				At 31 July 2023 £ 18,635
				18,635

				18,635

Page 10

Fuel Poverty Research Network Notes to the Accounts

10 Analysis of net assets between funds

10 Analysis of net assets between funds
Net current assets 11 Reconciliation of net debt Cash and cash equivalents Net debt	At 1 August 2022 £	Restricted funds £ 18,635 18,635 Cash flows £	Total £ 18,635
			18,635
			At 31 July 2023 £
	40,468	(21,833)	18,635
	40,468 40,468	(21,833) (21,833)	18,635
			18,635

12 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 11

Fuel Poverty Research Network Detailed Statement of Financial Activities

for the year ended 31 July 2023

Income and endowments from: Other Grants Received Total income and endowments Expenditure on: Charitable activities Grants made Total of expenditure on charitable activities Other expenditure Event Management General administrative costs, including depreciation and amortisation Sundry expenses Legal and professional costs Consultancy fees Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Restricted funds 2023 £ 5,000 5,000 5,000 20,318 20,318 20,318 - - 176 176 6,339 6,339 6,515 26,833 - (21,833) (21,833) - (21,833) 40,468 18,635	Total funds 2023 £ 5,000 5,000 5,000 20,318 20,318 20,318 - - 176 176 6,339 6,339 6,515 26,833 - (21,833) (21,833) - (21,833) 40,468 18,635	Total funds 2022 £ 24,354
			24,354
			24,354 12,380
			12,380
			12,380 20,530
			20,530
			35
			35
			7,434
			7,434

			27,999
			40,379 -
			(16,025)
			(16,025) -
			(16,025)
			56,493
			40,468

Page 12

Fuel Poverty Research Network (FPRN) Registered charity no. 1185345

Trustees’ annual report for the period 1st August 2022 to 31st July 2023

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the period ended 31 July 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity no. 1185345

Registered Office

16 Thorpe Street Manchester M16 9PR

FPRN was constituted as a Charitable Incorporated Organisation (CIO) in September 2019 with six inaugural trustees. Further trustees were appointed in 2020 and 2023 to strengthen the committee and reflect the international scope of the charity’s activities. Trustees are elected for three-year terms and are eligible for re-election.

Trustees at 31 July 2023 were as follows:

Graeme Sherriff (Chair) (re-elected Sept 2022) Trivess Moore (Co-Chair) Jenny Brierley (Secretary) Aimee Ambrose William Baker Danielle Butler (re-elected Sept 2022) Andréanne Doyon (appointed July 2023) Marilyn Smith

Trustees met monthly during the period of this report, either in person or online, as allowed in the constitution.

OBJECTIVES AND ACTIVITIES

The objectives of FPRN, as set out in its constitution dated 17 September 2019, are as follows:

(a) To prevent or relieve fuel poverty, for the public benefit, through undertaking, promoting and supporting research into factors that contribute to fuel poverty and ways to mitigate these factors, and publishing the results.
(b) To advance the education of the public, for the public benefit, on the subject of fuel poverty through promoting public awareness of fuel poverty and its consequences (in particular, but not exclusively, its impact on health, poverty and the environment) and encouraging dialogue between researchers, practitioners, charities or other organisations working to prevent or relieve fuel poverty anywhere in the world.

In this constitution ‘fuel poverty’ means the inability to afford or access adequate energy services.

The main activities of the charity, having regard to Charity Commission guidance on public benefit, are as follows:

1 Organising and delivering events to increase understanding and awareness of fuel poverty, focusing on research and practice in this field.
2 Supporting an online network of researchers, practitioners and policymakers, in order to strengthen links between research, practice and policy in respect of fuel poverty.
3 Supporting and promoting research activity related to fuel poverty, through making grants to support relevant research.

ACHIEVEMENTS AND PERFORMANCE

During the period of this report, FPRN has continued to implement plans agreed by trustees in June 2022. The main activities during the period of this report were as follows:

1 Supporting researchers grant-funded in EPEC (Engaging in Energy Poverty in Early Career) Round 1 and Round 2 through to completion and dissemination of projects.

EPEC 1 and 2 have funded 19 early-career researchers in 11 countries, conducting 17 research projects related to fuel poverty.

The findings of each project are reported in summary form on the FPRN website.

2 Delivering four online webinars: Fresh Insights on Fuel Poverty, 5 December 2022 Damp & Mould Expert Q&A, 1 March 2023

(in partnership with Fuel Poverty Experts project) This Winter’s Lessons, 29 March 2023

(in partnership with Fuel Poverty Experts project)

Smart Homes and Fuel Poverty in Australia, 11 May 2023

3 Publishing 19 editions of the FPRN Bulletin, a semi-regular bulletin for the FPRN network, highlighting recent international research relevant to fuel poverty.
4 Further growth of the FPRN online network to 278 members, UK and international.
5 Hosting a new project, Fuel Poverty Evidence, on the FPRN website. As part of this, creating an online directory of researchers.
6 Researching funding opportunities to support and grow the work of the organisation, in particular to continue and expand a programme of research funding.
7 Inviting EPEC researchers to take part in delivering FPRN activities as Associates.
8 Appointing a new trustee, extending the geographical spread of trustees to North America.

Signed on behalf of FPRN trustees	Signed on behalf of FPRN trustees
Signature
Name	Dr Graeme Sherriff
Position	Chair
Date	5thJune 2024