UTILITA GIVING COMPANY NUMBER: 13919664 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
UTILITA GIVING (Company limited by guarantee and not having share capital) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE INFORMATION STATUS The organisation is a charitable company limited by guarantee, incorporated on 16 February 2022 and registered as a charity with the Charity Commission in England and Wales on 14 December 2022. It also registered with the Office of the Scottish Charity Regulator IOSCRI on 16 March 2023. REGISTERED COMPANY NUMBER.. 13919664 REGISTERED CHARITY NUMBER: 1201330 OSCR NUMBER: SC052406 TRU5TEEs/ DIRECTORS The following served as trustee5 and are also direclors of the charitable companv.. MDESmith l Maidment M D Curtin JFScott PRINCIPAL ADDRESS ANO REGISTERED OFFICE.. Hutwood Court Bournemouth Road Chandler's Ford Eastleigh Hampshire 5052 3QB REGISTERED AUDITORS.. Knight Goodhead Limited 7 Bournemouth Road Chandler's Ford Eastleigh Hampshire S053 3DA
UTILITA GIVING (Company Ilmited by guarantee and not having share capital) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees and the directors of the charitable company present their report and the accounts of the charity lor the year ended 31 March 2024. OBIECTIVES AND ACTIVITIES The chai'itable objec.tives of the charity are the prevention or relief of need for thp public benefit throughout England, Scotland and Wale5 for thosc who are 5ufferlng hardship or distress as a result ol poverty, age. disability, or ill-health, including in particular hardship or distress arising due to fuel poverty and food poverty. This is through the provision of financi21 or material aid and the raising of awareness of such need with the public. In this clause., 'fuel poverty mean5 the inability of individuals and households to afford or access adequate eiiergy services, and 'food poverty means the inability of individu315 aiid households to obtain an adequate and nutritious diet in socially acceptable ways, or the uncertainty that they will be able to do so. Utilita Giving is a Krant making charity. Its activities in the year are split approximately SO% to food poverty and 50°A to fuel poverty. This split may change over time. STRUCTURE, GOVERNANCE AND MANAGEMENT Structure Utillta Glving is a company limited by guarantce reEistered with the Registrar of Companies in England and Wales under Company Number 13919664. Permission was granted to remove the word "limited" from the company name. Utilita Giving is 31$0 re2lStered with Charity Commission for England and Wales under Charity nurnber 1201330 and the Scottish Charity Regulator under Charity number SC052406. The trustee5 are a150 the members of the charity. Members of the charity guarantee to contribute an zinount not exceeding £1, to the charity in the event of winding UP. Governin document The charity's constitution is the Memorandum and Articles of Association adopted on 29 july 2022. Trustees Trustees are appointed by the current Trustee5, no organisation has the riEht to appoint Trustees. Formal Trustee selection and suitability Is being considered by the Trustees. It is expected that in the new year a skills audit of the Trustees will be formally undertaken with a view to ensure the Board of Trustees is fit for purpose. Risk mana ement The trustee5 ieview the risks that are faced by the charity and have established a risk process to ensure that they are dynamically monitored and managed. New risks are evaluated when they arise. Being a grant mal(inE charity with limited financial commitments means that the charity is not exposed to si£nificant risk. Ilowever, as the charity has limited reserves and is dependent on the Luxion Grouplutilita Energy Limited to cover its ongoing cornmltments, there is a risk that if the funding from
UTILITA GIVING (Company limited by guarantee and not having share capital} REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Luxion Group ceèsed there would be a short term risk to continuing in existence unless a new funding partner could be found. External fLJnd raising progrdms are being inve5tigatÈd. Public benefit When planning our activities for the period, we have considered the Charity Commission's guidance on public benefit. Grant makin olic The charity is a grant making charity and Its policy on grant making is to assess grant applicatlon5 against criteria for fuel and food poverty. The charity will also reach OLJt to Charitable organisations with similar aims that have acce55 to individuils in fuel or food poverty. Thc cmphasis of the charltv has moved from helping people IN fuel and food poverty to helping people OUT of food and fuel povertv. Contribution b volunteers The charity appreciates the input of the volunteer5 that havè assisted with fund raising events during the year. Many of those volunteers are employees of the Luxion Grouplutilita Energy who have allowed their staff to play an active part in these activities. Related Parties Utilita Giving has a close relationship with the Luxion Group, being the main funding partner. Two of the Trustees are employees of LLJxion Group Limited. Investment oll At 31 March 2024 the charity's re5eTve5 are limited, and the investment policy is to place excess cash on deposit witli the charity's bankers. A formal investment policy will be adopted in the new year. ACHIEVEMENTS AND PERFORMANCE Review of the ear The charity is still in its early stages and mLJch of the year has been Spent in developing the charity's strategic objectives. An Executive Director has been 3PPOlnted and plans are in an advance stage for the launch of the main strategic activity the program being called "One Call That's All" This involves linklnE With another charity to pilot personalised support to c6,000 individuals over a 2-year period. During the year the charity h3s made donations to over 40 organi53tlOlls working to help people out of food and fuel poverty totalling over £soak. Two of those donations were for new van5 lone of which is electric) to assist the food poverty charity to efficiently transport donated items.
UTILITA GIVING {Company limited by guarantee and not having share capital) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Princi al fundin sourc.e.s durin the ear During the year the Charity's Main source of income was a regular donation from Utilita Energy Limited. Thi5 has covered all of the governance cost5 and provided a surplus for use in other charitable Utilita Energy Limlted alsn organised various fundraising activities. In April 2023 Utilita donated a one-off sum of £5m towards the charity's activities, The Trustees have designated this 500A to Food Poverty, and 50% to Fuel Poverty, related issues. FINANCIAL REVIEW Financial Review Utilita Giving has è surplus for the year of £4.7m disclosed in the Statement of Financial Activities. However. £4.3m of this relates to restricted and designated funds. Net assets at 31 March 2024 were £4.8m, being mainly held in cash and c35h equivalents. Reserves General funds at 31 Mar¢h 2024 were E377k12023 £27kl whlch is approximately 2612023.. 31 months gener31 fund expenditure. This amount IS Ereater than the Trustees consider needed, however, the startup nature of the charity means that this reSee position will fluctuate. The balance on the two main designated funds (Food Poverty and Fuel Poverty) is being allocated to the strategic program "One CBII that's All" and is likely to be spent over a period of 2-5 year5, The Trustees have not adopted a formal reserves policy (thi5 will be done in the new yearl, however, they consider this to be a suitable reserves position based on the charity's current stBrt up position. Goin concern The charity is dependent on Luxion Group/Utilita Energy Limited for the majority of its incoming resources. They have indicated that the current level of regular donations, which covers the majoritv of the charity's overheads, will continue for the foreseeable future.
UTILITA GIVING (Company limited by guarantee and not having share capital) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 DIRECTORS, RESPONSIBILITIES The directors 3re responsible for preparing the rpport of the trustees and the financial statements in accordance with applicable law and United l(ingdom Generally Accepled Accounting Practice (UK GAAPI. The directors are required to prepare the report of the trustees and financial statements for each financial period, which give a true and fair view of the state of affair5 of the ch8ritahle company and of its incoming resources and application of resources, including income and exponditure for the period. In preparing those financial statements accounts, the directors are required to: select suitable accountlng policies and then dpply them consistentlv,. make judgements and e5timat&s that 3re rea50n3ble and prudent,. state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial £tatements.' prepare the accounts on the going concern basis unless it 55 inappropriate to presume that the company will contlnue in c>peration. The directors are responslble for koopine adequate accounting records which disclose with reasonable accuracy 3t any time the financial position of the cornpany and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of tlie company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the small companies regime under section 419121 of the Companies Act 2006, and in accordance with Accounting and Reporting by Charitie5'. Statement of Recommended Practice applicable to chorltles preparing their accounts in accordance with FRS 102 Isecond edition - October 20191. The director5 have confirmed that so far as they are aware, there is no relevant audit information of which the charitable company's auditors are unaware, and that they have taken all steps that they ought to have taken as directors in order to m3ke themselves aware of any relevant audit information and to establish that the charitable company's 8ud5tors are aware of that information. Signed and approved on behalf of the trustees on E£) 11/6 MDESmith Trustee
INDEPENDENT AUDITORS, REPORT TO THE MEMBER5 OF UTILITA GIVING Icompany limited by giJar3ntee 3nd not having a share capitall Opinion WÈ hève dudited the financial statements of ljtilita Cjiving lor the year ended 31 M3rch 2n24, whlch ctsmpris@ the Statement of Financi31 Activities, 8alante Sheet, Cashflow Statement and the related notes. The financial reporting frampwork that hos been applicd in their pieparaiion is applicable law and United KinEdom Accounting Standards including Financial Rp.porting Standard 102.. 1.he Financi31 Rp.porting Standard applicablc to the UK and Republic of Ireland (Uniled Kingdom Generally Accepted Ac.r.nunting Practicel. In our opinion, the linantial statements.. Elve a irue and fair vlew ol the state of the charitablÈ company's affairs as at 31 March 2024, and ol its income and oxponditure for the year then ended., have been properly preparÈd in dccordance with United Kingdorn Generally Accepted Accountlng Practlce.. have been prepared in 3ccordance with the requirements of the Companies Act 2006 and the Charitie5 and Trustee Investment Iscotlandl Act 2005 and re8ulation 8 of the Charil'ies Accounts (Scotlandl Regulations 2006. Basis of opinion We cunducted our audit in accordance with Internètional Standards on AuditinE IUKI IISAS IUKII and applicable law. Our respon51blllllÈs under those st3ndards are furthÈr dÈstrlbed in the Auditor's responsibilities for the audit of the financi31 statements soction of our rcport. We are independent of the Chdrity in actordance with the ethical requirements that are rele.vant to our audit of the financial statement5 in the UK, including the FRC'S Ethical Standard, and we have fulfilled ovr other ethlcal re5ponsibilitie% in acLordaTrce with these requirements. We be.Ileve that the audit evldÈncÈ we have obtained is 5ullicient arTrd appropriate to provide a basis for our opinion. Concluslons relating to golng concern In auditing the financ131 statemènts, we have concluded that the trustee5' Use of the golne concern bosls of accounting in thè preparatitsn ol the financial 5tatetnents is appropriate. Based on the work we have performed, we have not identified any rnaterial uncertalntips relatin8 to ovents or conditions that, individually or collp.ctively, may cast significant doubt on the charltable company's abillty to contlnue as a going contÈrn for d period of at least 12 months from when the financial statements are authori5ed for issue. Our responsibilities and the responsiblllties of the trustee5 Wlth respect to going concern are described In the relevant sectlOn5 of thi5 report. other information The tfU5tegs dro rospon5ible for the other Information. The other information comprises the inloirnation included i the annual report, including tho trustee5' report, other than the financial statoments and our auditor's report thereon. Our opinion on the linanclal statements does not r.avpr the other informatiott and, except to the extent othenvise Èxplicitly staled in our report, we do not express any form of assurance conclu510n thereon. Our respon5ibilitV 15 to read the other inforrnatlon and, in dolne so, consider whether tho other inform3tlon 15 materially incon51Stent with the finanii81 statements or our knowledge obtainÈd in tho audit or otherwise appears to be maierially misstated. If we identify such material inconsistencies or apparent material mi5StatemÈnts, we are requirod to determinc whcther there is a material misstatement in the financial statemetFts or 8 material mlsstatement of the other information. If, based on the work we have perforrned, we conclude that there is a material mi55tBtemenr of ihis other informatlon, we are required to report that fait. We have nothing to report in th15 regard.
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF UTILITA GIVING (Company limited by guzrantee and not having a share capital) Matters on which we are required to report by exception In light of ihÈ knowledee and understanding ol the charitable cornpany and it5 enirirDnment obtèined in the course ol the zudlt, we have not idÈntified matorial mi5Statements in the direclors, report Included within the Irustees, report. We have nothing to repnrt in rospoci of the following m3tter5 where the Companie5 Act 2006, Charlties (Attounts and Reports) Regulations ?.Oa8 and tlie CliaFltie5 Account%1Stotlandl Ilegulations 2006 requires u5 to report to you il, in our pinion.. the company has not kept adequate and sufficient accounting rp.cords, or returns adequate for our audit h3ve not beÈn received from brar)ches nol vislted by us,. or the company's lin3nci31 staterTrentS are not ili 8Ereement with the accounting records and returns,. or certain di5cIosure5 of tlU5tee5' remunerdtioii specified by law are not made,. or we have not received all the information and explanations we requirc for our audit,. or the irustoÈs wore not entitled to prepare the financial statements Sn 3ccurdantÈ wlrh the sm311 companies regime and take advantage of the sm311 companies exemption in preparing tlie Trustee5' Annual Report and take advantage ol the Small campanies oxomption from the requirememt to prepare a strategic report. Responsiblllties of the trustees As explalned more fully in the trustees, responsibllitie5 Statement, the trustees (who are also the directors of the charitable company lor the purposes of company lawl are responsible for the preparation of the lin8nclal statÈmÈnts and for being satisfied th£t they give a trvè and lair vitw. and for such internal control a5 they determine is necessary to enable the preparation ol financial st8teTnent5 that arp free from material misstatement, whether due to fraud or error. In proparing the financial Statements, the trustcos arc responsible for assossing the charitable cornpany's ability to continup. a5 a going concern, disclosing, a5 applir.Hhle, matters rolated to eoing concern and using the going concern basis of accountin£ unles5 th trustees either intend to liquid3te the charitable company or to cease operations. or Auditor'5 re5ponsibllltles for the audit of the financial statements We have bgen appointpd as auditor under sp.ction 4411) Icl of the Charities and Trustee Investment (Scotlandl Act 2(K)5 and under the Companies Act 2006 and report in 3ccordance with the Acts and relevant regulation.s rnade or having effect Èhereunder. Our ubjective5 are to obt8in re8sonak>lp. assurance about whp.thp.r the finantiÈl 5t3tements as a whole are free fro material rni55tatemÈni, whether due lo Iraud or error, and to 155ue an auditor'5 repart that includes our opinion. Reasonable a55urance Is a hiEh level of assurance, but is iiot a guarantee th?t 3n audit conducied In accordance with ISAS IUKI will always detect a materlal mlsstatement when it exists. Mi55tatements can arise from Ir3ud or error and ar2 considered material if, individually or in the aggreg3t&, they could reasonably be expected to Influence the economic dÉclsions of vsers taken on the basis of these lin3ncial statement5. Irregularities, intludlne fraud, aro instsnces of non-compli3nce with laws and regulations. We design procedures in line with our respon%ibilitie5, Outlined above, to detect matcrial mi55t3temÈnts In rospott of irregularities, including fraud. The extent to which aur procedures are capable of detp.cting irregularities. including fraud 15 d&tailed below.. The en%agemÈnr partner ensured that the engagement teatn collectively h3d the appropriate competence, capabilitie.s and skills to identify or recognise non-compliance with applicable law5 and regulatlons. We ideniilied the laws and regulation5 applicable to the charitable company through di5r.us5itsn5 Wlth trustees and othr rti2na8ement and we a55essed the extent of compliance with the laws and regulation5 identified above through makinE onquiries of management and inspecting legal corrÈspondence.
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF UTILITA GIVING (Company limited by guarantee and not having a share cèpitall We assessed ihe suscoptibility of the charitable cornpany'5 fiTranclal statements to malerial mi.%statp.ment, including obt8ining 3n understandlng of how fraud miRht occ[, by rnaklng enqulries of m3na£emÈnt as to where they considered the.re was sU5CPPtibllilV to fraud, their knowledge of actual, 5U5pected and alleged fraud and considering the internal controls in plzr.p. to mitlE3te ri5k% of fraud and non-compliance with laws and regulation5. TD address the ri%k of fraud thrnugh management bias and override of contro15, we porformed analytical procodurcs to IdÈniify any unusual or unexpeited relationships, tested journal entrie.s to identify unusual trtn$3ctions and investlEated the rationale behind signillcant or unusual transactions. In response to the risk of IrregularitlQs and non-compliance with laws and regulations, we desirfned procedures which included, biit werp not lirnited to.. agreeinB financial statement disclosures to underlying supporting documentatlon,. reading the minutes ol meetlngs al thoso charged wlth Bovern3nce,' and enquiring of management as to actual and potentlal litlgation and c13ims,' There are inhprpnt IIMitations in our audit proctdures doscrlbed above. Tho more removed that laws and regulotlons are Irom financial transactions, the les.% likely it IS that we wnuld becomÈ aware of non-compliance. Auditing 5tand£rds also Ilmit the audit procedure5 requlred to identify non-compliance with laws and reEulatian5 to enquiry of the trustees and other management and the in5pectlon of regulatory and legal correspondence, il anv. Material mi55tatementS thst ariso due to fr3ud can be harder to detcct than those that arise from error as they may Involve deliberate concealment or collusion. A further de.scription of our rÈsponsibilities lor the audit of the finantial stètements is located on the Financial ReportlnB Council'5 website at.. https..l/www.frc.org.uklauditorsresponsibilitles. Th15 dÈscription forms part of our auditor's report. Knight Goodhead Limited is ellglblÈ for appointment 3s auditor ol the charitable tompany by virtue of its eligibility for appointmont as auditor of a company under section 1212 of thc Coinpanies Act 2006. Llse of our report This report Is made 501ely to the tharitable company'5 members, a5 a bodyi in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work ha5 been undertakpn sa th3t we might State to the charitable companvs members those matters we afe requlred to slate to them in 3n auditor's report and for no other purpose. To the fullest extent permittpd by law, we do not accept or assume responsibility to allyone other than the charitablÈ companws membp.r% as 3 body, lar our audit work, for thi5 report, or for tho opinlons we have formed. CJ GOODHEAD FCA Senior Statutor¥ Audltor Knight Goodhead limltÈd Chartered Accountants 3nd Statutory Auditrjrs 7 Bournemouth Road, Chandler's Ford, Eastleigh, Hampshire, S053 3DA Dated.. go
UTILITA GIVING Icompclny limited by guarantee and not having a share capltall STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 (including Income and expenditure account) Yèar 11 months ended ended 31 March 31 March 2024 2023 Total Total funds funds Restricted Unrestricted funds funds Notes INCOME Donations and legacies Fundraising income Investment Income 5,901 5,350,618 35,132 140,295 5,356,519 307,276 26,750 140,295 TOTAL INCOME 5,901 5,526,045 5,531,946 334,026 EXPENDITURE Charitable activities 20,931 843.464 864,395 206,759 TOTAL EXPENDITURE 20,931 843,464 864.395 206,759 NET INCOMEIIEXPENDITUREI FOR THE YEAR 115,0301 4,682,581 4,667,551 127,267 Transfers between funds io,ii NET MOVEMENT IN FUNDS FOR THE YEAR 115,0301 4,682,581 4,667,551 127,267 FUNDS AT THE BEGINNING OF THE YEAR 99,613 27,654 127,267 FUNDSATTHE END OF THE YEAR 84,583 4,710,235 4,794,818 127,267 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds Bre disclosed in notes 10 and 11 to the financial statements.
UTILITA GIVING COMPANY NUMBER: 13919664 (Company limited by guarantee and not having a share capital) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes CURRENT ASSETS Debtors Cash at bank and in hand 24,659 4,810,301 1,045 134,962 4,834,960 136,007 CREDITORS.. amounts falling due within one year 140,1421 18,7401 NET CURRENT ASSETS 4.794,818 127,267 NET ASSETS 12 4.794,818 127,267 FUNDS Restricted funds Unrestricted funds General funds Designated funds io 84,583 99,613 li 377,160 4,333,075 27,654 TOTAL FUNDS 4,794,818 127,267 These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 and FRS 102 relatlllg to small entities. Approved by the board of trustees on 2 0 and signed on its behalf bv M D E Smith, Trustee 10
UTILITA GIVING (Company limited by guaranteo and not having a share capital) CASHFLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES 4,675,339 134,962 NET CASH FLOW 4,675,339 134,962 Change in cash and cash eouivalents in the period 4,675,339 134,962 Cash and cash equivalent at start of the year Cash and cash equivalents at the end of the year 134,962 4,810,301 134,962 NOTES TO THE CASHFLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the year Ilncreasel/decrease in debtors Increa5e/ldecreasel in creditors 4,667,551 123,6141 31,402 127,267 11,045 8,740 Net cash flow from operating activities 4,675,339 134,962 2 ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 2023 Cash at bank and in hand 4,810,301 134,962
UTILITA GIVING (Company limited by guarantee and not having 3 share capilall NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 I ACCOUNTING POLICIES al Accounting convention 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 FRS 102 and the Companies Act 2006, the Charities ar5d Trustee Investment (Scotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 200613s amended). The charity meets the definition of the public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The accounts have been prepared on the going concern basis. There are no material uncertainties about the charity's ability to continue. bl Income Donations and legacies are received by way of donations and gifts and are included in full in the statement of financial activities when received. Fundraising income is included in full in the statement of financial activitie5 when received. cl Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource. Cost related to a particular activity are allocated directly, others are apportioned on an appropriate basis. dl Funds Unrestricted funds are donations and other incoming resources receivable or generated for charitable purposes. Designated funds are unrestricted fund5 earmarked by the trustees for a particular purpose. Restricted funds represent grants and donations, which are allocated by the donor for specific purposes. Expenditure which meets these criteria is ch3rged to the appropriate fund. 12
UTILITA GIVING Icompany limited by guarantee and not having a share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 I ACCOUNTING POLICIES Icontinuedl el Donated services and facilitie5 Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated professional services and donated facilities are reco8nised on the basis of the value of the gift to the charity which is the amount the charity would be willing to pay for to obtain services or facilities of equivalent economic beenfit on the open market. A corresponding amount IS then recognised as expenditure in the period of receipt. fl Financi31 Instruments The charity only has financi31 assets and financial liabilites of a kind th3t qualify a5 basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their Settlement value. 2 LEGAL STATUS The charity is a company limited by guarantee and has no share capital. The charitable company was incorporated on 16 February 2022 in the United Kingdom and commenced it's charitable activities on 27 April 2022. The charitable company was registered on 14 December 2022 with the Charity Commission in England and Wales. The charity registered with The Scottish Charity Regulator on 16 March 2023. The charity is a public beneflt entity. The registered office of the charitable company is Hutwood Court, Bournemouth Road, Chandler's Ford, Eastleigh, 5053 3QB. 13
UTILITA GIVING Icompany limited by guarantee and not having 3 Share capltall NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 3 DONATIONS AND LEGACIES Year 11 months ended ended 31 March 31 March Restricted Unrestricted funds fLFnds 2024 Total 2023 Total Donations and Similar income Utilita Energy Limited donations Donated services Isee note 161 other donations Gift aid 5,475 5,261,316 60,087 27,545 1,670 5,266,791 60,087 27,971 1,670 256,217 50,000 924 135 426 5,901 5,350,618 5,356,519 307,276 4 FUNDRAISING INCOME Year ended 31 March 11 months ended 31 March Restricted Unrestrlcted funds funds 2024 Total 2023 Total Golf day 35,132 35,132 26,750 14
UTILITA GIVING (Company limited by guarantee and not having a share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES EXPENDITURE Year ended 31 March 2024 Total 11 months ended 31 March 2023 Total Restricted Unrestricted funds funds COSTS DIRECTL Y ALLOCA TED TO ACTIVITIES Grants and donations15ee note 141 Golf day expenses Fuel research 20,931 537,620 10,895 108,375 558,551 10,895 108,375 138,009 7,152 20,931 656,890 677,821 145,161 SUPPOR T COSTS ALLOCA TED TO ACTIVITIES Insurance Audit and 3ccount3ncy fees Subscriptions Bank charges Legal and professional fees Advertising and marketing IT software and consumables Wages and salaries Sponsorship General èxpenses Mana8ement charge (see note 161 3,086 6,672 358 1,122 558 2,519 854 97,579 10,950 2,876 60,000 3,086 6,672 358 1,122 558 2,519 8S4 97,579 10,950 2,876 60,000 2,002 4,740 401 140 4,315 50,000 186,574 186,574 61,598 TOTAL EXPENDITURE 20,931 843,464 864,395 206,759 Included within audit and accountancy fees is £4,80012023.. É3,8401 payable to the auditors for the statutory audit and £1,200 12023.. £9001 for accounts preparation. £672 was also payable for corporation tax and payroll services12023.. £nill. 15
UTILITA GIVING (Company limited by guarantee and not having a share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 EMPLOYED STAFF COSTS AND NUM8ER5 Year ended 31 March 2024 11 months ended 31 March 2023 Employed staff costs were as follows.. Salaries and wages Social security costs Pension 93,171 3,674 734 97,579 No employee earned more than £60,000 during this or the prior year. Included within wages and salaries is £64,660 recharged from Utilita Energy Limlted for two members of staff. This is in addition to the staff costs recharged as a management charge as detailed in note 16. At the year end there were outstanding pension contributions payable of £33012023.. £nill, Total pension contributions of £73412023.. £nill were paid by the charity and are included in the SOFA. Key management comprises one individual who was paid a total of £30,38812023: nil) The average number of employees during the year was as follows.. Direct charitable work 7 TAXATION The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. DEBTORS 2024 2023 Trade debtors Prepayments and accrued income other debtors 300 24,247 112 1,045 24,659 1,045 16
UTILITA GIVING Icompany limite.d by guarantee and not having a share capitall NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 CREDITORS.. amounts falling due within one year 2024 2023 Trade creditors other taxation and social security Other creditors Accruals and deferred income 28,792 2,488 330 4,000 8,532 4,740 40,142 8,740 10 RESTRICTED FUNDS At IApril 2023 At 31 March 2024 Income Expendlture Transfer5 Foodbanks/Penny-a-vend Helping Hands Pan Together Fund 5,756 15,7561 115,0301 11451 99,613 84,583 145 99,613 5,901 120,9311 84,583 Purposes of restrictedfunds FoodbankslPenny-a-vend 'Penny-a-Vend" was where Utilita Energy Limited agreed to pay I penny for every vend made in the run up to Christmas by its customers, via the My Utilita app, to be allocated to various foodbanks that Utilita Energy has been Involved with. Helplng Hands The Helping Hands Fund was created to alleviate fuel poverty among Utilit8 Energy Limited's customer5 who were unable to pay their energy bills and who agreed to have a Smart Met@r installed in prepayment mode, Pan Together Fund A one off fundraiser by our energy hub in IOW specifically for this charity which was matched bv Utilita Giving 16
UTILITA GIVING (Company limited by guarantee and not having a share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 11 UNRESTRICTED FUNDS At l April 2023 At 31 March 2024 Income Expenditure Transfers Designatedfund5 Food Poverty Fuel Povertv 2,500,000 2,500,000 5,000,000 1207,1061 1459,8191 1666,9251 2,292,894 2,040,181 4,333,075 General funds TotJl unrestrictedfunds 27,654 27,654 526,045 5,526,045 1176,5391 1843,4641 377,160 4,710,235 Purposes of designatedfunds Food Poverty and Fuel Poverty During the year Utilita Energy Limited donated £5m. The Trustees have reviewed this donation and have agreed that it is not practical to spend this money appropriately in a single year. A designation has been made such that 500/0 will be spent on projects associated with helping people out of food poverty and 50% will be spent on projects helping people out of fuel poverty. 17
UTILITA GIVING (Company limited by guarantee and not having a share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 12 ANALYSIS OF NET ASSETS BETWEEN FUNDS Restricted funds Designated fund5 General fund5 Total funds Yeor ended 31 March 2024 Debtors Cash at bank and in hand Creditors 24,659 392,643 140,1421 377,160 24,659 4,810,301 140,1421 4,794,818 84,583 4,333,075 NET ASSETS 84,583 4,333,075 Restrltted funds Deslgnated funds General funds Total f unds Period erjded 31 March 2023 Debtors Cash at bank and in hand Creditors 1,045 35,349 18,7401 27,654 1,045 134,962 18,7401 127,267 99,613 NET ASSETS 99,613 13. TRUSTEE EXPENSES No trustee5 received any remuneration. One trustee was reimbursed £934 for expenses incurred on behalf of the charity. 18
UTILITA GIVING (Company limited by guarantee and not having a share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 14. ANALYSIS OF GRANTS Grants lincluding fuel research grants) made in the year totalled E666,92612023.. £138,009), all of which were given to institutions . Gifts over El,000 per institution are as follows.. 2024 2023 Customers of Utilita Energy Limited Stepchange Homestart Edinburgh NE Foodbank IThe Tru55ell TrLJStI The Cathedral Archer Project Blackburn Foodbank IThe Trussell Trust) Bilston Support Network Derby City Mission Chroma Church Friends of the Homeless in Fareham and Gosport Free Food in Sandown Southampton City Mission Hartlepool Foodbank (The Trussell Trust) Families First Cambridge Architectural ftesear¢h Ltd (fuel research) University of Oxford Ifuel research) Bedford Strect 273,377 68,000 6,000 2,176 1,750 1,750 1,750 1,750 53,059 48,000 6,000 2,798 2,798 2,798 2,798 2,798 2,798 2,798 2,798 2,798 2,798 1,650 2,213 1,750 1,750 65,520 42,855 9,980 10,000 11,550 1,750 34,144 1,750 1,750 4,000 I,ooi 8,984 4,047 3,746 1,641 5,000 1,641 5.844 5,000 5,451 Brentford Street Colchester Food bank Communities Food and Wellbeing Fund Durham Christian Partnership Eastleigh Basics Bank G13sgow SE Foodbank Hibernian Community Foundation Hounslow Community Huddersfield Town Foundation Luton Food bank The Bay Food bank North Bristol Food bank North Essex Support Team Operation Christmas Redeemed Christian SCRATCH Southampton CAB 19
UTILITA GIVING (Company limited by guarantee and not havinE a share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 14. ANALYSIS OF GRANTS Icontinuedl 2024 2023 The Big Difference Trash Cafe 62,877 1,750 8,950 1,750 3,(K)O Unit 12 CIC Warrington Foodbank Wickham Pantry 15 RELATED PARTYTRANSACTIONS During the year Utilita Givlng received donations totalling £5,266,79112023'. £256,217) from Utilita Energy Limlted, a company in which M D E Smith, trustee, was also a director and employee until 31 March 2024. One other trustee is also an employee of Utilita Group Limited. These donations were to support the charitable work of Utilita Giving. During the year grants totalling £252,511 were paid to customers of Utilita Energy Limited under the Winter Warmer Schemes With a further £4,964 of NEST vouchers. A further £15,90212023.. £3871 was donated to support Utilita Energy Limited's customers under the Helping Hands Project. During the prior period, grants totalling £52,672 were paid via Utilita Energy Limited to their customers as part of the fuel support grant project, specifically to support customers not covered by the government Energy Bills Support Scheme. Utilita Energy Limited were also reimbursed a total of £66,080 for expenses incurred on behalf of Utilita Giving, including staff costs of £64,660. At the year end, amounts were owed to Utilita Giving of £11,878 and are included in creditors. 16. DONATED GIFTS AND SERVICES During the year, the charity received donated gift5 and Services in kind from Utilita Energy Limited with a value of gift to the charity of £60,000,12023.. £50,000) which was included in both income and expenditure. This included cogts of approximately £54,000 being notional recharges of Utilita Energv Limited staff costs. 20
UTILITA GIVING (Company limited by guarantee and not having a share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 17. PRIOR PERIOD STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL AcfiviTIES FOR THE PERIOD ENDED 31 MARCH 2023 (including Income and expenditure account) 2023 Total funds Restricted Unrestricted funds funds INCOME Donations and legacies Fundraising income 128,320 178,956 26,750 307,276 26,750 TOTAL INCOME 128,320 205,706 334,026 EXPENDITURE charitable activities 28,707 178,052 206,759 TOTAL EXPENDITURE 28,707 178,052 206.759 NET INCOME FOR THE PERIOD 99,613 27,654 127,267 Transfers between funds NET MOVEMENT IN FUNDS FOR THE PERIOD 99,613 27,654 127,267 FUNDS ATTHE BEGINNING OF THE PERIOD FUNDS ATTHE END OF THE PERIOD 99,613 27,654 127,267 21
UTILITA GIVING Icompany limited by guarantee and not having a share capital) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 18. PRIOR PERIOD MOVEMENTS IN FUNDS RESTRICTED FUNDS At l Aprll 2022 At 31 March 2023 Income Expenditure Transfers Foodbanks/Penny-a-vend Helping Hands 28,320 loo.000 128,3201 13871 99,613 128,320 128,7071 99,613 UNRESTRICTED FUNDS At IApril 2022 At 31 March 2023 Income Expendlture Transfers General funds 205,706 1178,0521 27,654 22