Charity Number.. 1203185
Company Nurnber-. 14241649
The Northem Powergrid Foundatlon
(A company limited by guarantee)
Trustees, Report and Financaal Statements
for the period ended 31 December 2023

The Northern Powergrid Foundatlon
Contents
Page
Report of the Trustees
Independent Auditors, report
Slalemenl of financial acb'vilies
10
Statements of cashflows
Balance sheet
12
Notes to the financial statements
13-18

The Northem Powergrid Foundatlon
Trustees, report
For the period ended 31 December 2023
The financial statements have been prepared in accordance with the accounllng policies sel out in notes to the
accounts and comply wlh the charity's governing documenl, the Charities Act 2011 and Accc¥Jnting and Reporting
by Charities.. Slalemenl of Recommended Practice applicable lo charits'es preparing thelr accounts in accordance
th the Financial Fieporting Standard applicable in the UK and Republic of Ireland.
Objectlves and a¢tivities
The Foundation was established by Northern Powergrid In 2022 in response lo the devastating effects of slom
Arwen upon the communities il serves. However. the objectives of the Foundation are more ambitious than simply
supporting energy resilience. The Iruslees want lo create enduring support across a broad range of charitable
objects by helping those most affected by changes in the economy. environment and sociely because of the shifting
energy landscape.
The objects of the Foundation are:
the prevention and relief of poverty, and the relief ol those in need due lo financial hardship, ill-heallh,
disability or other disadvantage including through the provision of advice and support for the optimisation of
Iwing conditions, particularly relating to the use of energy and resources among those in necessilous
circumstances, including those in fuel-p¢)or households. or who have suffered loss through wealher-related
or other environmental events.,
the maln1enan￿, improvement or provision of public amenities for the public ￿nefit in areas which are
socially and economically deprived.,
the preseNalion, conservation, protection and improvement of the environment including through supportiThJ
sustainability and the prudent and effiaent use of resources.. and
the advancement of education through the prOVi￿On and support of educational support and training about
all aspects of efficient and sustainable use of energy and resources.
One of the ways of getting the right support in place lo create resilient and thriving communities is via access lo
funding. Since incorporation, this has been primarily aehieved by making grants of up lo £20.000 lo fund local
ommunity projects. typically focused on energy resilience. BUL over the longer temi, the trustees envisage that
fulfflllng the Foundallon's objectives will also be achieved by funding innovation projects which offer large-scale
solutions and by partnering with networks and other bodies lo maximise charitable resejves and res¢Jurces lo provide
enhanced public benefit.
The Foundats'on's grant making pdicy exists lo ensu￿ that the Foundation benefits the public and applies ils funding
fairty and consistently. The Iruste&s confirm that they have referred lo the guidance conlalned in the Charity
Commlssion's general guidance on public berTrefil when reviewing the Foundation's grant ma￿.ng pollcy.

The Northern Powergrid Foundation
Trustees, report (Con¢inued)
For the period ended 31 December 2023
Achievement and performance
In the period before the Foundats'on was registered as a charity and in the interests of supporting those customers
who had been worst affected by the winter storms of late 2021 and early 2022, in quarter four of 2022, Northem
Powergrid donated £0.12 million lof £7.69 million, see 'financial review below'l of charitable funds lo support 10
energy resilien￿ projects on behalf of the Foundation.
Followlng the re￿Ipt of the charitable funds {Decemb8r 20221, the Foundation made a number of grants during
quarter one 012023. again primarily focusing on those areas worst affected by winter slomis, such as Durham and
Northumberfand. As a result, charitabl8 funds in the sum of £0.44 million were awarded to a further 33 energy
resilience projects.
Upon the appointment of the independent trustees. a Ihlrd round of grants was made during quarter three of 2023.
With prevlous grants having frKused prgdomlnanuy on energy resilience. the trustees elected lo consder
applications associated with all ¢harilable objectives and for projects located across the whole of Northem
Powergrid's operabng regions. This resulted in the trustees awarding a combined totsl of £D.30 million lo fund 17
projects.
Through the provision of grants. to date, the Foundation has primarily supported communities by funding energy
resilience solutions thich, allows them lo become more self-sufficienl, particularly during extreme weather events.
Funding projects for communities and community hubs also helps lo prote¢l ￿sidentS and improve resilience in the
face of a changing climate, whilst furthering the deCa￿onIs0110n agenda. By fundlng alternate power projects, the
Foundation has not only ensured the integrity of supply in many smaller and harder lo reach communitres. but also in
many cases, has supported projects that procure resilien￿ in a suslalnable way.
Examples of the type of projects benefilling from funding include the..
Installation of solar panels and ballery storage equipment lo enable a community to malntsin supply during a
er cul.
Installation of heal pumps to improve energy efficiency and support decarbonisalion.
Plans for the future
The Foundation wlll continue to establish ils vision and long-lemi business plan lo achieve its ambition lo be the best
energy company charity and provide public benefit on an enduring basis. Due lo the Foundation being in an
embryolic stage of ils development. the trustees plan to refine and develop ils three funding strategies (energy, fuel
poverty innovation. and future networks). In the short lo medium term, the Foundation will continue lo provide grant
funding for eligille prolecls that align Mrilh the charIta￿e objects.

The Northern Powergrfd Foundation
Trustees, report fcontlnuedj
For the
ear
eriod 31 Dgcember 2023
Financial review
In accordance with its commitment to support customers during severe weather events and as a result of the effects
of elimale change, in late 2022, Northem Powergrid sel aside a sum of £7.69 million for the purpose of making a
charitable donation lo the Foundation.
Of this total. 2nd as referenced in 'Achievemenls and performan￿, above, £0.12 million was awarded by Northern
Powergrid. on behalf of the Foundation lo charitable beneficAaries. The remaining balance of £7.57 rnillion was
transferred to the Foundation in December 2022.
During the period since ils Incorw)ration, the Foundation {or Northern Powergrid on behalf of the Foundatlonl has
awdrded grants totsling £0.86 million to beneficiaries in support of 60 projects.
As al 31 December 2023 the Foundation had total funds and net assets of £6.83 million.
Reserves policy
The Foundation's funds remain in surplus. and the reserves are currently maintained in order lo meet f(s objectThies.
The Iruslees are taking steps to implement an investment strategy and reseNes rKJlicy.
Principal Risks and Uncertaintie$
The risk register is reviewed by the trustees Cpn a quarterfy basis and covers govemance, flnandal. operaliorsal,
complSance and extemal risks. Risks identified are priorilised on the basis of likelihood of occurrence and potential
impact with miligatlons agreed lo manage the risks.
The main risks identifled during 2023 included..
Customer Satisfaction
The Foundation has pul in pla￿ a number of meastjres to ensure that grants are awarded lo digit18 reiakiènts in
fLrtheiance rfthe Charits￿e object& In the event stakehdders do have concems, these are manajed by the
Foundation's complaints process.
Invo$tment policies
The Foundation has sufflcient reserves lo meet Ils objedives beyond the forthcoming financial year. Th8
trustees appointed RBC Brewin Dolphin as the Foundation's Investrnent and will lake steps io develop
an investment policy to sllmulale the level cl charitablè reserves being generated.
Fraud
The trustees, with the support of Northern Powergrid have put in place a number of policies and processes lo
manage the risk of fraud from both the cyber security and operational perspective. This includes robust
infomation technology systems aNI controls. stringent due dlligence processes and clear financial reporting
procedures.

The Northem Powergrld Foundation
Trustees, report (Continued)
For the year period 31 December 2023
Reference and Administratlve Detsils
Registered Charity Number.
Registered Company Number..
Registered Office:
1203185
14241649 (England and Wales)
Lloyds Court, 78 Grey Street, Ngwcaslle Upon Tyne, NE16AF
Trustees
The Iruslees who senfed the charty during the period were as follows,.
K Bradley
Jcoe
J Dochety
L Lowes
D Wilkin
Independent Trustee {appointed 1 June 2023}
Northern Powergrid Trustee lappoinled 1 June 20231
Chair of the Trustees (appointed 1 June 2023}
Northern Poweigrid Trustee lappoinled 1 June 20231
Independent Trustee {appointed 5 June 20231
Company Secretsry
JC￿leY
Northern Powergrid Trustee Iresigned S June 2023)
Our advisors
External Auditors Haines Walls North East Audit LLP 17 Queens Lane. Newcastle upon Tyne, NE1 1 RN
Bankers
Lloyds Banking Group
102 Grey Stre91, Newcastle upon Tyne, NE16AG
Structure, Govemance and Management
Governing document
The Foundation was Incorporat￿ as a company limited by guarantee on 18 July 2022 and was registered as
charity on 22 May 2023. The Foundation's governing document is ils Memolandum and A￿cleS of Association
I"Articies'}.
Principal actrvity
The Foundation is part of the Northern Powergrid HcAdings Company and ils subsidiaries group of companres (the
"Northern Powergrid Group.), and its prtncipal aclivty is lo further its charitable objects (see 'obje¢lives and activities,
below). primarily on behalf of customers residing the geographic areas covered by the electricity distribution
licenses of Northern Powergrid Iyorkshirel plc and Northern Powergrid (Northeast) plc Itogalher 'Northern
Powergrid").
Publlc Benefit
From 1 April 2008, section 4 of the Chartlies Act 2006 requires 811 charities to meet the legal requirement that ils
aims are for the public benefit. The Trustees (x)nfirm that they have complied with the duly lo have due regard lo the
Charity Commission's gèneral guidan￿ on public benofil.
The Charity Commission ststes that there are Iwo principles to be met in order to show that an organlsalion's aims
are for the public benefll.. firstly, there must be an idenlifiabie benefit or benefits and secondly that the benefit must
be lo Ihe pu￿1¢, or a section of the public.
The Trustees are sallsfied Ihal the aims and objeclives of the charity. and the acttvities reported on above, meet
these principles.

The Northem Powgrgrld Foundatlon
Trustees, report (Continued)
For the pgrlod ended 31 Decembèr 2023
Appointment of trusteey
There are currently five trustees of the Foundation. Ihree of whom are independent tsuslees Ilncluding the Chairl and
two who a￿ non-independenl trustees employed by Northem Powergrid.
The Artides require that the board of trustees comprises of a minimum of three and is consliluted as follows..
At least two trustees musl be independent of the Foundlng Member (being Northern Powergrid Llmited,
a member of the Northern Powergrid Group)., and
Al least one twslee must be a representative of the FuJnding Member.
Trustees are appointed by the Founding Member for a period determined al the lime of appoinlmenl, however, no
trustee shall serve in office for more than nine consecutive years provided that a Iruslee may be reappointed
annually, thereafter, if there are exceptional circumstances, and the trustees unanimously resolve that they Can be
reappointed.
The trustees were appointed to ensure that the Foundation's board was representative of the communities that il and
Northern Powergrid serves. Accordingly, the trustees come from a broad variety of backgrounds with a mix of
expertise and act as champions in the community in helping to shape, develop and deliver the Foundation's business
plan in pursuit of the charitable objectives.
Inductlon and training of trustees
Upon appoinlmenl, each Iruslee was provided wlh an inductlon pack including key Constitution docunenls, Charity
Commission guidance and contextual information about Northern Powergrid. In addition. all Iruslees attended a
training event held by external lawyers covoring govemance. trustee duties and decision maknng, risk management.
safeguarding and the Charity Govemance Code. The trustees will continue lo undertake training when necessary.
Management and administration
The Iruslees relain ultimate iesponsibilily for all decisions, induding selts'ng the Foundation's VI￿On and strategy,
safeguarding the charitable funds. maklng the final decision on all charitable donations and ensLJring that all activity
of the Foundation is for the purpose of fulfilling ils charitable objects. In doing this, the trustees ensure that they fulfill
their duty to act al all limes in the best interests of the Foundation whilst supporting the diverse communities that
Northern Powergrid serves.
The Iruslees govem the overall business of the Foundation and meet quarterly to dlscuss the Foundation's strategy.
perfomiance and consider ils future direction. In addition, monthly meetings are held lo discuss any operational
matters arising. The Iruslees declare any interest they may have in relatton to the work carried out by the
Foundation.
Day-lo-day operallonal management of the Foundation is led by the Foundation Manager linleriml. who is employed
and remunerated by the Northern Powergrid Group. bul who reports lo the board of Iruslees. Additional support and
resources including governance. payroll, meellng facilities and infom)alion technology soluts'ons a￿ provided by the
Northern Powergri¢J Group.

The Northem Powergrid Foundation
Trustaes, report {ContlnuedJ
For the period ended 31 Decembgr 2023
Statement of Trustees Responsibilltles
The Trustees (who are also dlreclors of Northern Powergrid Foundation for the purposes of company lawl are
responsible for preparing the Trustees, Annual Report and the financial slalemenls in a￿ordance with appllcable law
and United Kingdom A¢counling Standards (United Klngdom Generally AC￿pted Ac￿unting Pracb'cel. including
FRS 102 The Financl81 Reporting Standard Applicable in the UK and Republic of Ireland.
Company law requires the Trustees to prepare finanaal st8temenls for each finan￿al year, vthich give 8 true and fair
view of the stste of affairs of the charitable company and of the incoming resources and application of resources,
including the income and expenditu￿, of the charitable company for the period. In preparing those financial
slalemenls, the Trustees are required to:
select suitable accounting policies and then apply them consistently.. obseNe the methods and princlples in
the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the
charitable company wll continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any
lime the financial position of the charilaile company and lo enable them to ensure that the financial slalements
comply with the Companies Act 2(X)6. They are also responsible for safeguarding the assets of the charitsble
company and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities.
In so far as the Trustees are aware..
there is no relevant audit infomiation of which the charitable company's auditors a￿ unaware,. and
the Trustees have taken all steps that they ought lo have taken to make themselves aware of any relevant
audit information and lo establish that the auditors are aware of that information.
Auditors
In accordance with the Companies Act 2006 a resolution proposing the reaptx)inlment of Haines Watts North East
Audit LLP as auditor for the year ending 31 De￿mber 2024 will be put lo the Founding Member before the end of
the next financial year.
Jo8 Lbcherty
Chair

The Northern Powergrid Foundation
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE NORTHERN POWERGRID FOUNDATION
For the perlod ended 31 Decembar 2023
Opinion
We have audited the finanoal slalemenls of The Northern Powergrid Foundation {Ihe 'charilable c(Knpany'l for the
period ended 31 December 2023 which comprise the Slalemenl of Flnancial Activ1￿es, the Balance Sheet, the Cash
Flow Slalemenl and notes to the financial slalements, including a summary of signtficanl accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102 The Finanoial Reporting Standard applicabl8 in
the UK and Republr of Ireland (United lfjngdom Generally Accepted Accounting Praclicel.
In our oplnion the financial statements..
give a true and fair view of the stste of Ihg charitable company's affairs as at 31 December 2023, and of its
incoming resources and application of resources, induding ils Income and expenditure, for the year then ended..
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs IUKII and applicable law.
Our responsibilities under those standards are further described in the Auditor's responsibilib'es for the audit of the
flnancial slalemenls section of our report. We are independent of the charitable company in a￿OrdanCe ￿fi1h the
ethical requirements that are relevant lo our audit of d)e financial statements in the UK, induding the FRC'S Ethical
StsrHJard. and we have fulfilled our other ethical responsbilities in accordance with these requirements. We believe
that the audit evldence we have obtained is Sufficient and appropriale to provide a basis for our opinion.
Conclusions relatlng to going concern
In auditing the financial slalements. we have conduded that the trustees, use of the going concern basis of
accounting in the preparation of the financi21 stslements is appropriate.
Based on the work we have perfom)ed, we have not identified any material uncertainties relating lo events or
conditions that. individually or collectively. may cast Significant doubl on the group's or p2rent charitable company's
ability lo continue as a going concern for a peri(Kl of al least twelve months from when th8 financllal stslemenls are
aulhorised for issue.
Our responsibilities and the responsibilities of the trustees with respect lo going concem are described in the
relevant ￿tIOnS of this report.

The Northern Powergrid Foundation
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE NORTHERN POWERGRID FOUNDATION
For the pèriod ended 31 December 2023
Other information
The Iruslees are responsible for the other information. The other ir)fomiation comprises the informab'on induded in
the trustees, annual report, other than the finanaal statements and our audllor's report Ihereon. Our opinion on the
flnancial statements does not cover the other 5nfomiation and, except to the exlenl otherwse explicitty staled in our
report, we do not express any fomi of assurance concluslon Ihereon.
In connection with our audit of the financial ststemenls, our responsibility Is lo read the other infomialion and, in
doing so, ¢onsider whether the other information is materially inconsislenl with the financial slalemenls or our
knowledge obtsined in the audit or otherwise appears to be materially misstated. If we idenlfy such material
Snconsistencies or apparent material misstatements. we are required lo determine thelher there is a material
misstalemenl in the finanaal slalements or a material misst8temenl of the other infomialion. If. based on the work
we have perfomed. we conclude that there is a material misslalement of this other information. we are required lo
report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companles Act 2006
In our opinion, based on the work undertaken in the couise of the audit..
the information given in the trustees, repcrtt lin¢orporating the diiectors, report) for the financial yearfor which the
financial slalemenls are prepa￿d is consislenl with the financial statements., and
the directors, report has been prepared in accordanee with applicable legal requirements.
Matters on which we are required lo report by exceptton
In the Ilghl of our kn￿edge and understanding of the charitable company and ils environment obtained in the
course of the audit, we have not identified material misslalemenls in the direct￿. report.
We have nothing lo raport in respect of the following mallers In relation lo whlch the Companies Act 2006 requires us
lo report lo you if. in our opinion:
adequate accounting records have not been kept, or reluins adequate for our audit have not been recewed fJDm
branches not visited by us., or
the financial Statements are not in agreement with the accounting records and ielurns.. or
certain disclosures of directors, remuneration specrfied by law are not made., or
we have not recewed all the information and explanations we requlre for our audll., or
the Iruslees were not enlilled to prepare the financial slalemenls in accordance with the small CoMpan￿s,
regime and take advantage of the small companies, exemptions preparing the directors, report and Ircxn the
requirement lo prepar& a strategic report.
Responsibilitles of trustees
As explained more fully in the trustees, responsibilities statement ￿t out on page 19, the Iruslees are responsible for
the preparation of the financial slalemenls which give a true and f8lT view, and for such internal control as the
trustees deter￿Ine is necessary to enable the preparation of financial statements that ale free from material
misslalemenl, whether due to fraud or error.

The Northern Powergrid Foundatlon
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE NORTHERN POWERGRID FOUNDATION
For the period ended 31 December 2023
In preparing the financial s121emenls, the trustees are responsible for assessing the group and parent charilabie
company's ability lo continue as a going concern, disclosing. as applicable, matters related to goiry concern and
using the going concem basis of accounting unless the trustees either intend to liquidate the group and parent
charitable company or to ￿ase operations, or have no realistic allernalive but lo do so.
Audltor's responsibilities for the audit of the financlal statements
We have been appointed auditor under the companies Act 2006 and we report in accordance wth this Act.
Our obiectlves are lo obtain reasonable assurance about whether the financial ststements as a whole are free from
material misslalement. whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assuran￿ is a high level of assuran￿. but is not a guarantee that an audit conducted in accordance
with ISAS IUKI wll always delecl a material misststement when il exists. Misstatements can arise from fraud or error
and are consldered material if, individually or in the aggregate, they could reasonably be expected lo influence the
economSc decllsions of users taken on the basis of these financial statements.
Irregularities. including fraud, are instances of non-compliance wth laws and regulations. We design procedures in
line wlh our responsibilities, outlined above. lo delect material misslatemenls in respect of irregularities. including
fraud. The exlenl lo which our procedures 8re capable of detecting irregularities, including fraud, is detailed below.
We obtained an understanding of the legal and regulatory framework apjicable lo both the company itself and the
industry in which it operates. We identified areas of laws and regulations that could reasonably be expected lo have
a material effect on the finanaal statements from our sector experience and through discussion Tmth the directors
and other management. The most significant were idenlifled as the Charib'es Act 2011, Companies Act 2006, UK
GAAP IFRS1021 and relevant lax legislation. We considered the exlenl of compliance with those laws and
regulation5 as part of our procedures on the related financlal Statements. Our audit procedures included=
confiming with the trustees and management whether they have any knowledge or suspicion of fraud,.
obtaining an understsndlng of the intemal contrds established to mitigate risks related to fraud or non-compliance
th laws and regulations.,
confirmation received frcm the banks to verify the balance as on the last day of the accounting year., and
reviewing minutes of meetings of those charged wth governance.
Our audit did not identify any key audit matters relating lo the detection of irregularilles including fraud. However,
despite the audit being planned and conducted in accordance with ISAS {UKI there remains an unavoidable risk that
material misslatemenls in the financial slalemonls may not be detected owing to inherent Ilmilations of the audit, and
that by their very nature, any such instances of fraud or irregularity likely involve cdlusion. forgery, inlentlonal
misrepresentations, or the override of internal controls.
A further description of our re5ponsibililies for the audit ol the financial statements is located on the Financial
Reporting Council's webslte al.. vJww.frc.org.uklaudilorsresponsibilities. This description forms part of our auditor's
report.

The Northern Powergrid Foundatlon
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE NORTHERN POWERGRID FOUNDATION
For the period ended 31 December 2023
Use of Our Report
This report is made solely lo the charitable company's members, as 8 body, in accordance wth Chapter 3 of Part 16
of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the Charitable company's
members those mallers we are required lo stste lo them in an auditor's report and for no other purpose. To the
fullest exlenl pemiitled by law, we do not accept or assume responsibility lo anyone other than the charitsble
company and the charitable company's members as a body, for our audit work, for this reF)Drt, or for the opinions we
have fomed.
Craig Henderson (Senior Statutory Auditor)
For and on behalf of Haine5 Watts North East Audlt LLP
Ststutory Auditors & Chartered Accountants
17 Queens Lane
Newcastle upon Tyne
NE11RN
10

The Northern Powergrid Foundation
Statement of Financial Activities
For the period ended 31 December 2023
18 month period
Restricted
Total
funds
2023
Unrestrlcted
funds
Notes
Income from:
Donations
7,570,080
7,570,080
7,570.080
7.570,080
Expenditure on:
Charitable activities
749,567
749,567
749,567
749,567
Net movement in funds
6,820,512
6.820.512
Reconciliation of funds
Total funds brought fowrd
Total funds carrled foThMrd
6,820,512
6.820,512

The North9m Powergrid Foundation
Balance Sheet
As at 31 December 2023
2023
Notes
Current assets
Cash al bank and in hand
6,825.912
6.82S.912
Creditors-
amounts falling due wlhin one year
(5.4001
Net current assets
6.820,512
Net assets
6.820.512
Funds
Unreslricled fund
6,820.512
The financial slalemanls were approved by the trustees on
2024 and signed on their behaK by..
Joe Docherty
Trustee
The notes fom? part of these finanGial slalamenls
12

The Northern PoweTgrid Foundation
statement of Cash Flows
As at 31 December 2023
2023
Notes
Cash flows from operating activities-
Cash generated from operations
6,825,912
Net Cash provlded by (used in) operating activities
6,825,912
Net cash provlded by/(used in) Investing and Ilnancing activiues
Change in cash and cash equivalents in the year
6,825,912
Cash and cash equivalents al the beginning of the year
Cash and cash equivalents at the end of the year
6,825,912
Reconcillatlon of net incomellexpenditure) to net cash flow from operating activities
2023
Net income for the period
Adjustments for:
Increase in credilors due more than 1 year
6.820.512
5,400
Net cash provided by (used In} operating actlvltles
6.825,912
13

The Northern Powergrid Foundatlon
Notes to tha flnancial statements
For the perlod ended 31 December 2023
A¢¢ounting Policies
1.1 Basis of accounUng
The charity conslilules a public benefit enlily as defined by the FRS 102. The finanaal stslements have been
prepared in accordance with Acwunling arml Reporting by Charities- Slalemenl of Recommended Practice
applicable to ¢harilie5 preparing their accounts in accordance with the Flnancial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 1021 issued in October 2019, the Financial Reporting Standard
applicable in tha United Kingdom and RepublSc of Ireland IFRS 1021. the Charities Act 2011. and UK
Generally Accepted Accounting Practice.
The financial statements have been prepared lo give a 'lrue and fail. view and have departed from the
Charities {Accounts and Reports) Regulations 2008 only lo the extent requlred to provide a 'lrue and fair view..
This departure has involved following the Accounb'ng and Reporting by Charities-. Slalement of Recommended
Practice applicaile lo charities preparing their accounts in accordance wlh the Financial Reporting Standard
applicable in the UK and Republic of Irdand IFRS 1021 issued on 16 July 2014 rather than the Accounting and
Reporting by Charities.. Slalement of Recommended Practice effective from 1 April 2005 thich has since been
¥Mthdrawn.
The ftnancial statements are prepargd on a going concem basis under the historical cost convention, modified
to include certain items al fair value. The financial siatsmenls are presented in sterling which is the functional
currency of the charity and rounded lo the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consislenlly applied lo all years presented unless otherwise slated. The charitable
company was incorporated on 18 July 2022. The amounts shown for the current year are for the 18-month
period ending 31 DeCeM￿r 2023.
1.2 Going concern
The accounts are prepared on a going concern basis. The trustees have approved the Foundation's budgets
and forecasts for 2024, have considered the resources available in 2024 and conclude that the Foundation
has adequate resources to continue in operational existen￿ for al least 12 months from the signing of the
financial stalemenls.
1.3 Fund accountlng
Unrestricted funds are available for use al the discretion of the trustees in furtherance of the general objectives
of the charity and which have not been designated for other purposes.
Restrioled funds are funds which are to be used in accordance with specific restrictions imposed by donors or
which have been raised by the charity for particular purposes. The cost of raising and administering such
funds are charged against the specific fund. The aim and use of each restricted fund is sel out in the notes to
the fln8ncial statements.
14

The Northem Powergrid Foundation
Notes to the financial statements (Cgntlnued)
For the period ended 31 December 2023
1.4 Incoming resources
All incoming resources are included in the Statement of Financial Activllies ￿en the charity has entitlement lo
the funds, any performance conditions have been mel. the amount can be rneasu￿d reliably and it is probable
that the income will be received
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate
all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to
make payments lo third parties, il is probable that the selllemenl wi15 be required and the amount of the
obligallon can be meaSU￿d reliably.
Irrecoverable VAT is charyed against the cost against the expenditure which was incurred.
1.6 Support cost allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activ￿eS.
They are incurred directly in support of expenditure on the oblects of the charff(y.
1.7 Debtors
Debtors are measured on initial recognition at settlement amount after any trade discounts or amount
fvanced by the Charity. Subsequently, they are measured 8t the cash or other consideration expected lo be
received.
1.8 Cash at bank and in hand
Cash at bank and cash in hand indudes cash and short tem highly Ilquid investments wth instant access
fmm the date of opening of the deposit or similar account.
1.9 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obllgalion resulting from a past event
that wll probably result in the Iransfer of funds lo a third party and the amount due to setde the obligation can
be measured or estimated reliably. Creditors and provi&ons are normally racognised at their settlement after
allo￿llng for any trade discounts due.
1.10 Financial instruments
The charity only has financia assets and financid liabilltles of a knnd that qualfy as baslc finanaal instruments.
Basic financial instruments are initially recognised at tsansaclion value and subsequenlly measured al their
selllemenl value with the exception of bank loans which are subsequently measured al amortised cost using
the effective interest method.
15

The Northern Powergrid Foundatlon
Notes to the financial statements (Continued)
For the period ended 31 December 2023
Incomo
2023
Donations
7,570.080
Expendtture
Direct
Support
costs
Total
2023
costs
Charltable activities
Payment of grants
Sundry expenses
Support costs
743,359
743.359
5.400
5.400
744.187
5,400
749,567
Support costs
2023
Governance costs
Audit fee
5,400
An analysis of grants made to organisations is provided below.
2023
Age UK Barnsley
Bamburgh Parish Council
Birtley Village Hall Committee
Blanchland Parish Council
Cambo Village Hall
Cowshill Village Hall
Deric Youth and Community Project
Diplon Community Association
Eastgale Village Hall
Elsdon Village Hall
Friends of EastwoLxJs Park
Future Leisure in Coxhoo
Hexham and Tynedale Community Trust
Humshaugh Village Hall
Jubliee Fields Community Association
20.000
17.619
13,860
15,796
19.034
7.948
9.000
20.000
19,000
7,309
13.476
10.000
20.000
20,000
19,775
16

The Northern Powergrld Foundation
Notes to tho flnanclal statements fcontlnuedj
For the period ended 31 December 2023
Kirklevinglon & Casllelevinglon Memorial Hall
Kyffin pla￿ Community Centre
Lands Village Hall Assoclallon
Lesbury Village Hall
Longframlinglon Memorial Hall
Medom￿eY Community Action Group
Newbrough Town Hall
Northcliffe Environmental Enterprises Team IN.E.E.TI
Otlerburn Memorial Hall
Parish Coun¢il of Hexhamshire
Pittinglon Ccmmunity Association
Prirnelime at The Vine
Renninglon Village Hall Trust
Scots Gap Methodist Church
Sherburn Hill Hub
Stanhope Community Association
Stsnley Crook Village Hall
Slocksfield Community Association
Stonehaugh Community Hall Trust
Sunniside Community Association
Tees Valley Community Asset Preservation Trust
The Big League CIC
The Glendale Gateway Trust
The Village Hall Winleringham
Todmorden LeaTning Centre and Community Hub Ltd.
Weardale Community Partnership
West Allen Parish Council
Whitley Bay Big Local
Whillingham Memorial Institute
Woodland village Hall and Recreation Ground Charity
15,589
9,601
17,055
20,000
20,000
6,418
20.(￿0
20,000
13,277
17,485
20,000
18,285
19,574
6,351
15,000
19,200
16,5(K)
15,000
17.000
18,485
10.620
20,tK)D
20,000
17,640
20.000
5,671
20.000
11,782
19,663
20,000
723,014
Grants under £5,00116 grants)
20,345
743,359
17

The Northern Powergrid Foundation
Notes to the flnancial statements fcontinuedj
For the perlod ended 31 December 2023
Net incoming l(expenditurel
Nel incomellexpendllurel is slated after charging
2023
Audit fee
5.400
Analysis of trustee remuneration and expenses
None of the directors of the Trustee lor any persons connected with them) re￿iVed any remuneration or
benefits from the Foundation during the year.
Total Iruslee expenses amounted lo £nil.
Creditors.. amounts falling due within one year
2023
Accruals
5,41K>
Analysis of funds
Per￿d ended 31 Decg
ber 2023
At31
December
2023
2022
Income Expenditure Transfers
Unrestricted funds
General fund
7,570.080
1749,567 1
6,820,512
10. Analysis of net assets between funds
Period ended 31 Decgmber
23
Unrestricted
Funds
Current assets
Current liabilits'es
6.825.912
15,4001
6,820.512
18

The Northern Powergrid Foundation
Notes to the flnanclal statements {Contlnued)
For the perlod ended 31 December 2023
11. Related party transactlons
Northern Powergrid (Northeasll plc made a £6,954,880 donation durfng the period.
Northern Powergrid (Yorkshire) plc made a £615,200 donation during Ihe period.
19