Charity Number.. 1203185
Company Number.. 14241649
The Northern Powergrid Foundation
(A company limited by guarantee)
Trustees, Report and Financial Statements
for the year ended 31 December 2024

The Northern Powergrid Foundatlon
Contents
Page
Report of the Trustees
Independent Auditors, report
7-10
Slalement of financial activities
Statements of cashflows
12
Balance sheet
13
Notes lo the financial statements
14-21

The Northern Powergrid Foundatlon
Trustees, report
For the year ended 31 December 2024
The financial statements have been prepared in accordance with the accounting policies sel out in notes to the
accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting
by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance
wth the Financial Reporting Standard applicable in the UK and Republic of Ireland.
Objectives and actlvitles
The Foundation was established by Northern Powergiid in 2022 in response to the devaslaling effects of storm
Arwen upon the communities il setves. However, the objectives of the Foundation are more ambitious than simply
supporting energy resilience. The trustees want lo create enduring support across a broad range of charitable
objects by helping those rllosl affected by changes in the economy. environment and society because of the shifting
energy landscape.
The objects of the Foundation are..
the prevention and ielief of FX)verty, and the relief of those in need due to financial hardship. ill-health,
disability or other disadvantage including through the provision of advice and support for the oplimisalion of
living conditions, particularly relating lo the use of energy and resources among those in necessitous
circumstances, including those in fuel-poor households, or who have suffered loss through wealher-relaled
or other environmental events.,
the maintenance, improvement or provision of public amenities for the public benefit in areas which are
socially and economically deprived.,
the preservation. conservation, protection and improvement of the environment including through supporting
suslainabilily and the prudent and efficient use of resources., and
the advancement of education through the provision and support of educational support and training about
all aspects of efficient and sustainable use of energy and resources.
One of the ways of gelling the right support in place lo create resilient and thriving communities is via access lo
funding. Since incorporation, this has been primarily achieved by making grants of up to £20,000 lo fund local
community projects, typically focused on energy resilience. But, over the longer term, the Iruslees envisage that
fulfilling the Foundation's objectives will also be achieved by funding innovation projects which offer large-scale
solutions and by partnering wlh networks and other bodies to maximise charitable reserves and resources lo provide
enhanced public benefit.
The Foundation's grant making policy exists to ensure that the Foundation benefits the public and applies ils funding
fairly and consistently. The trustees confirm that they have referred lo the guidance contained in the Charity
Commission's general guidance on public benefit when reviewing the Foundation's grant making policy.

The Northern Powergrld Foundation
Trustees, report (Continued)
For the year ended 31 December 2024
Achievement and performance
During the year, the Foundation completed two grant rounds focused predominantly on energy resilience. The
first round was made in quarter two of 2024, which resulted in £0.18 million being awarded lo fund 14 projects.
Round two was made in quarter four of 2024, during which, the Trustees awarded £0.30 million lo fund 20
projects.
Through the provision of grants, to dale, the Foundation has primarily supported communities by funding energy
resilience solutions which. allows them lo become more self-sufficient, partiCLJlarly during extreme weather
events.
Funding projects for communities and community hubs also helps lo protect residents and improve resilience in
the face of a changing climate, whilst furthering the decarbonisalion agenda. By funding alternate power projects.
the Foundation has not only ensured the integrity of supply in many srnaller and harder to reach communities, bul
also in many cases, has supported projects that procure resilience in a sustainable way.
Examples of the type of projects benefitting from funding includes the installation of solar panels and battery
storage equipment lo enable a community lo maintain Supply during a power cut, and the inslallalion of heal
pumps to improve energy efficiency and support decarbonisalion.
The Trustees completed a recruilmenl process in quarter four of 2024, establishing a new Foundation operations
team, consisting of the Head of Foundation, Foundation Operations Manager, and Foundation Adminislralor. All
three new appointments joined the Foundation in èarly 2025.
Plans for tho future
The Foundation will continue lo establish ils vision and long-lerm business plan lo achieve ils ambition to be the best
energy company charity and provide public benefit on an enduring basis. Due to the Foundation being in an
embryolic stage of ils development, the trLJStees plan lo 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 eligible projects that align with the charitable objects.

The Northern Powergrid Foundation
Trustees. report (Continued)
For the year ended 31 December 2024
Financial review
As at 1 January 2024 the Foundation had lolal funds and net assets of £6.83 mi51ion.
The Trustees agreed an investment approach in quarter one of 2024. appointing RBC Brewin Dolphin as the
Foundation's investment advisor. In July 2024. £6.5 million was invested lo coincide with future grant funding
rounds, with £0.25m allocated to a cash fund for liquidity.
In September 2024, a gill was redeemed with proceeds transferred lo the cash fund, followng which, £0.30
million was transferred from the cash fund into the Foundation's back account lo facilitate payments for the grant
round in quarter four of 2024.
During the financial year, the FoLJndalion awarded grants lotalling £0.48 million to beneficiaries in support of 34
projects. However, given the liming of the grant round in quarter four, the payment of the £0.30 million of
charitable funds did not lake place until quarter one of 2025.
During the year, the Foundation received donated services and support from Northern Powergrid, including
aC￿sS to office facilities and adminislralive assistance These resources were provided free of charge to support
the Foundation's operations. Vvhile no specific monetary value has been allributed, the trustees recognise the
benefit this provides, and thank Northern Powergrid for their conlribulions.
As al 31 December 2024 the Foundation had total funds and net assets of £6.36 million.
Reserves policy
The Foundation's funds remain in surplus. and the reserves are currently maintained in order lo meet its objectives.
The trustees are taking steps to implement an investment strategy and reserves policy.
Principal Risks and Uncertainties
The risk register is reviewed by the trustees on a quarterly basis and covers governance, financia5, operational,
compliance and external risks. Risks identified are priorilised on the basis of likelihood of occurrence and potential
impact with mitigations agreed lo manage the risks.
The main risks identified during 2024 included..
Customer Satisfaction
The Foundation has put in place a number of measures lo ensure that grants are awarded lo eligible recipients in
furthernn￿ of the charitable objects. In the event stakeholders do have concerns, these are managed by the
Foundation's complainls pro￿5S.
Investment policies
The Foundation has sufficient reserves to meet ils objects'ves beyond the forthcoming financial year. The
trustees appointed RBC Brewin Dolphin as the Foundation's investment advisor and will take steps to develop
an investment policy to Stimulate the level of charitable reserves being generated.
Fraud
The trustees, with the support of Northern Powergrid have pul in place a number of policies and proces8es lo
manage the risk of fraud from both the cyber security and operational perspective. This includes robust
information technology systems and controls, stringent due diligence processes and clear financial reporting
procedures.

The Northern Powergrid Foundatlon
Trustees, report (Continuedj
Forthe year ended 31 December 2024
Reference and Administrative Detsils
Registered Charity Number..
Registered Company Number..
Registered Office".
1203185
14241649 (England and Wales)
Lloyds Court, 78 Grey Street, Newcastle Upon Tyne. NE16AF
Trustees
The Iruslees who setved the charity during the period were as follows..
K Bradley
Jcoe
J Docherty
L Lowes
D Wilkin
Independent Trustee
Northern Powergrid Trustee
Chair of the Trustees
Northern Powergrid Trustee
Independent Trustee
Company Secretary
J C Riley
Our advisors
External Auditors S&W Audit
17 Queens Lane, Newcastle upon Tyne, NE1 1RN
Bankers
Lloyds Banking Group
102 Grey Street, Newcastle upon Tyne, NE1 6AG
structure, Governance and Management
Governing document
The Foundation was incorporated as a company limited by guarantee on 18 July 2022 and was registered as a
charity on 22 May 2023. The Foundation's governing document is ils Memorandum and Articles of Association
I"Articles"l.
Principal activity
The Foundation is part of the Northern Powergrid Holdings Company and ils subsidiaiies group of companies Ilhe
'Northern Powergrid Group'l, and ils principal activity is lo further Ils charitable objects Isee 'objeclives and aclivilies,
below), primarily on behalf of customers residing in the geographic areas covered by the electricity distribution
licenses of Northern Powergrid IYorkshire} plc and Northem Powergrid (Northeast) plc Ilogelher °Northern
Powergrid'l.
Public Beneflt
From 1 April 2008, section 4 of the Charities Act 2006 requires all charities lo meet the legal requirement that ils
aims are for the public benefit. The Trustees confirm that they have complied with the duly to have due regard lo the
Charity Commission's general guidance on public benefit.
The Charity Commission states that there are two principles lo be mel in order lo show that an organisation's aims
are for the public benefit.. lirslly, there must be an identifiable benefit or benefits and secondly that the benefit musl
be lo the public, or a section of the public.
Thè Trustees are satisfied that the aims and objectives of the charity, and the activities reported on above, meet
these principles.

The Northern Powergrld Foundatlon
Trustees. report (Contlnuedj
For the year ended 31 December 2024
Appointment of trustees
There are currently five trustees of the Foundation, three of whom are independent Iruslees (including the Chair) and
o who are non-independenl Iruslees employed by Northern Powergrid.
The Articles require that the board of trustees comprises of a minimum of three and is conslituled as follows..
Al least two trustees musl be independent of the Founding Member (being Northem Powergrid Limited,
a member of the Northern Powergrid Group)., and
Al least one trustee musl be a represenlab've of the Founding Member.
Trustees are appointed by the Founding Member for a period determined al the lime of appoinlmenl, however, no
IrLJslee 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 it and
Northern Powergrid serves. Accordingly, the Iruslees come from a broad variety of backgrounds with a mix of
expertise and act 8s champions in the community in helping lo shape, develop and deliver the Foundation's business
plan in pursuit of the charitable objectives.
Induction and training of trustees
Upon appointment, each Iruslee was provided with an induction pack including key conslilulion documents, Charity
Commission guidance and contextual information about Northern Powergrid. In addition, all Iruslees attended a
training event held by external lawyers covering governance, Iruslee duties and decision making, risk management,
safeguarding and the Charity Governance Code. The Iruslees will continue lo underiake training when necessary.
Management and administration
The Iruslees relain ultimate responsibility for all decisions, including setting the Foundation's vision and strategy,
safeguarding the charitable funds, making the final decision on all charitable donations and ensuring that all activity
of the Foundation is for the purpose of fulfilling its charitable objects. In doing this, the trustees ensure that they fulfill
their duly to act al all limes in the best interests of the Foundation whilst supporting the diverse communities that
Northern Powergrid serves.
The trustees govern the overall business of the Foundation and meet quarterly lo discuss the Foundation's strategy,
performance and consider its futLJre direction. In addition, monthly meetings are held to discuss any operational
mallers arising. The Iruslees declare any interest they may have in relation to the work carried OLJt by the
Foundation.
Throughout 2024, the day-lo-day operational management of the Foundation was led by the Foundation Manager
linteriml, who was employed and remunerated by the Northern Powergrid Group, but who reported lo the board of
trustees. Additional support and resources including governance, payroll. meeting facilities and information
technOl￿Y solutions are provided by the Northern Powergrid Group. Following their appointment in January 2025.
the Foundation will be supported by the Foundation operations team.

The Northern Powergrid Foundation
Trustees, report (Continuedj
Forthe
ear ended 31 December 2024
statement of Trustees Rgsponsibilities
The Trustees (who are also directors of Northern Powergrid Foundation for the purposes of company lawl are
responsible for preparing the Trustees, Annual Report and the financial slalemenls In accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel, including
FRS 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland.
Company law requires the Trustees lo prepare financial slalemenls for each financial year, which give a true and fair
view of the slate of affairs of the charitable company and of the incoming resources and application of resources,
including the income and expenditure, of the charitable company for the period. In preparing those financial
slalements, the Trustees are required lo..
select suitable accounting policies and then apply them consislenlly., observe the methods and principles in
the Charities SORP..
make judgements and estimates that are reasonable and prudent.,
prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the
charitable company will 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 charitable company and lo enable them lo ensure that the financial slalements
comply with the Cornpanies Act 2006. They are also responsible for safeguarding the assets of the charitsble
company and hence for lakino 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 information of which the charitable company's auditors are unaware., and
the Trustees have taken all steps that they ought lo have taken lo make themselves aware of any relevant
audit information and lo establish that the auditors are aware of that information.
Auditors
S&W Audit will continue in office in accordance with the provisions in Section 487 of the Companies Act 2006 and
has indicated ils willingness lo do so.
Joe Docherly
Chair

The Northern Powergrid Foundation
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE NORTHERN POWERGRID FOUNDATION
For the year ended 31 December 2024
Opinion
We have audited the financial statements of The Northern Powergrid Foundation Ilhe 'charilable company'l for the
period ended 31 December 2024 which comprise the Statement of Financial Aclivilies, the Balance Sheet, the
statement of Cash Flows and notes lo the financial statements, including a sumrnary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable law and United
lfjngdom Accounting Slandaids, including Financial Reporting Standard 102 The Financial Reporting Standard
appliG8ble irF the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the slate of the charitsble company's affairs as at 31 December 2024, and of ils
incoming resources and application of resources, including its income and expenditure, for the year then ended..
have been properly prepared in accordance with United Kingdom Genera15y Accepted Accounting Practi￿. and
have been prepared in accordance wth the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with Inlemalional Standards on Auditing IUKI IISA5 IUKII and applicable law.
Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the
financial statements section of our report. We are independent of the charitable company in a¢¢ordance with the
ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical
standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial stalemenls, we have concluded that the Iruslees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, 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 parent charitable company's
ability to continue as a going concern for a period of al least twelve months from when the financial statements are
aulhorised for issue.
Our responsibilities and the responsibilities of the trustees with respect lo going concern ale described in the
relevant sections of this report.
other information
The Iruslees are responsible for the other information. The other information comprises the information included in
the Iruslees, annLJal report, other Iban the financial slalemenls and our auditor's report thereon. Our opinion on the
financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our
report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial slatemenls, our responsibility is to read thè other information and, in
doing so, consider whether the other information is materially inconsislenl with the financial statements OT our
knowledge obtained in the audit or otherwise appears lo be materially misslaled. If we identify such material
inconsistencies or apparent material misstatements, we are required lo determine whether there is a material
misslalemenl in the financial statements or a material misslalement of the other information. If, based on the work
we have performed, we conclude that there is a material misslalemenl of this other information, we are required to
report that fact.

The Northern Poweryrid Foundation
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE NORTHERN POWERGRID FOUNDATION
For the year ended 31 December 2024
We have nothing lo report in this [￿ard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Iruslees, resxjrt (incorporating the directors, report) for the financial yeai for which the
financial slalements are prepared is consistent with the financial slalemenls., and
the directors, report has been prepared in accordance with applicable legal requirements.
Matters on which we are requlred to report by exceptlon
In the light of our knowledge and understanding of the charitable company and its environment obtained in the
course of the audit. we have not identified material misstatements in the directors. report.
We have nothing lo report in respect of the following mallers in relation to which the Companies A¢1 2006 requires us
lo report to you if, in our opinion..
adequate accounting records have not been kept, or relums adequate for our audit have not been received from
branches not visited by us., or
the financial slalemenls are not in agreement with the accounting records and returns., or
certain disclosures of directors, remuneration specified by law are not made,, or
we have not received all the information and explanations we require for our audit., or
the Iruslees were not entitled lo prepare the financial slalemenls in accordance wlh the small companies,
regime and lake advantage of the small companies, exemptions in preparing the directors, report and from the
requirement to prepare a strategic report.
Responslbilltles of trustees
As explained more fully in the trustees, responsibilities statement set out on page 6, the trustees are responsible for
the preparation of the financial statements which give a true and fair view, and for such internal control as the
trustees determine is necessary lo enable the preparation of financial slalemenls that are free from material
misslalemenl, whether due to fraud or error.
In preparing the financial slatemenls, the tru8lee8 are responsible for assessing the group and parent charitable
company's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and
using the going concern basis of accounting unless the trustees either intend lo liquidate the group and parent
charitable company or lo cease operations, or have no realistic alternative bul to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed auditor under the companies Act 2006 and we report in accordance with this Act.
Our objectives are lo obtain reasonable assuranTr about whether the fi'nancial statements as a whole are ffft from
material misslatemenl, whether due lo fraud or error. and lo issue an audilorfs report that includes our opinion.
Reasonable assurance is a high level of assuran￿, bul is not a guarantee that an audit conducted in accordance
with ISAS IUKI will always delecl a Material misstalemenl when il exists. Misslalemenls can arise from fraud or error
and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the
economic decisions of users taken on thè basis of these financial slalemenls.

The Northern Powergrid Foundation
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF THE NORTHERN POWERGRID FOUNDATION
Forthe year ended 31 December 2024
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to delect material misstalemenls in respect of irregularities, including
fraud. The extent lo which our pmcedures are capable of delecling irregularities, including fraud, is detailed below.
We obtained a general understanding of the company's legal and regulatory framework through enqLJiry of
management concerning their understanding of relevant laws and regulations. the enlily's policies and procedures
regarding compSiance, and how they identify, evaluate and account for liligalion claims. We also drew on our existing
understanding of the company's industry and regulation.
We understand that the company complies with the framework through..
Engaging external legal professionals as required and making changes to internal procedures and controls
as necessary.
The directors, close involvement in the day-to-day running of the business, meaning that any litigation or
claims would come to their attention directly.
Monitoring of updates made by regulatory bodies.
In the context of the audit, we considered those laws and regulations which determine the form and conlenl of the
financial statements, which are central lo the company's ability lo conduct its business. and where there is a risk that
failure to comply could result in material penalties. We identified the following laws and regulations as being of
significance in the context of the company..
The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial
slalemenb.
The Charities Act 2011 and the Charities.. Slalement of Recommended PTactice in respe¢l of the preparation
and presentation of the financial ststemenls.
We performed the following specific procedures lo gain evidence about compliance with the significant laws and
r￿ulationS identified above..
Making enquires of trustees and management as to where they consider there lo be a susceplibilily lo fraud
and whether they have any knowledge or suspicion of fraud..
Obtaining an understanding of the internal controls established to mitigate risks related lo fraud or non-
compliance with laws and regulations.,
Reviewing the minutes of meetings of those charged with governance..
The senior slalulory partner led a discussion with senior members of the engagement team regarding the
suscepts'bilily of the enlily's financial statements lo material misslatemenl, including how fraud might occur. The
areas identified in this discussion were..
Manipulation of the financial slalements via fraudulent bank transactions and management overriding
controls.
The risk that the valuation of the investment portfolio was inappropriate al the period end.
The risk that gift in kind income had not been recognised, or was incomplete.
These areas were communicated to the other members of the engagement team not present at the discussion.

The Northern Powergrid Foundatlon
INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF THE NORTHERN POWERGRID FOUNDATION
For the year ended 31 December 2024
The procedures we carried out lo gain eviden￿ in the above areas included..
Performed a cashbook review on the bank slalements
Agreed the movements within the investment portfolio reports in the year and compared the movements
against bank Iransaclions.
Held a discussion with management on potential gifts in kind and inspected corresponding documents to
quantify the value.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. wNw.frc.org.uklauditorsresponsibilities. This description forms part of our audilorfs
report.
Use of Our Report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16
of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's
members those matters we are required lo stale to them in an auditor's report and for no other purpose. To the
fullest extent permilled by law, we do not accept or assume responsibility to anyone other than the charitable
company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we
have formed.
Craig Henderson (Senior Statutory Auditor)
For and on behalf of S&W Audit
Statutory Auditors & Chartered Accountants
17 Queens Lane
Newcastle upon Tyne
NE1 1RN
10

The Northern Powergrid Foundation
Statement of Financial Activities
For the year ended 31 December 2024
18 month period
Total
Total
2024
2023
Unrestricted Restrlcted
Funds
Funds
Notes
Income from:
Donations
Investment income
60,134
71,636
60,134 7,570,080
71,636
Total income
131,770
131,770 7,570,080
Expenditure on..
Charitable activities
592,896
592.896 749,567
Total expenditure
592,896
592,896 749,567
Nel gain I Ilossl on investments
5,444
5,444
Net Incomellexpenditurel
1455.6821
1455,68216,820,512
Transfers
10
Net movements in funds
1455,6821
1455,6821 6,820.512
Reconciliation of funds
Total funds brought fotward
6,820,512
6,820,512
Total funds carried forward
6,364,830
6,364,830 6,820,512
11

The Northern Powergrid Foundation
Balance Shaet
As at 31 December 2024
Notes
2024
2023
Non-cvrrent assets
Fixed asset investments
6,323,533
Curront assets
Cash al bank and in hand
361,055 6,825.912
361,055 6,825.912
Llabilities
Creditors.. amounts falling due
within one year
1319,7591 15,400 }
Net current assets
41,297 6,820,512
Total assets less total liabilities
6,364,830 6,820,512
Funds
Unreslricled funds
6,364,830 6,820,512
6,364,830 6,820,512
The financial statements were appToved by the Irtjstees on 8 September 2025 and signed on their behalf by..
Joe Docherly
Trustee
The notes form part of frhese financNal slalen7ents
12

The Northern Powergrid Foundation
Statement of Cash Flows
As at 31 December 2024
Notes
2024
2023
Net cash flow from operating activltles:
Net cash providecl by operating activities
16
1141,3231 6,825,912
Cash flows from Investment activities
Interest received and investment income
Purchase of investments
Proceeds from disposal of investments
71,636
16,550,000)
231,911
Net cash flow from investing activities
16,246,453)
Net increase in cash and cash equivalents
16,464,857) 6,825,912
Cash and cash equivalents at the beginning of the year
6,82S,912
Cash and cash equivalents at the end of the year
361,055 6,825.912
Reconclliation of net incomellexpenditurel to net cash flow from operating activities
2024
2023
1455,682) 6,820,512
Net ￿ncoMe for the period
Adjustments for:
Increase I Idecreasel in creditors
Investment Income
Valuation gain on investments
314,359
171.6361
15,444}
5,400
Net cash used in operating activities
1218,4031 6,825.912

The Northern Powergrid Foundatlon
Notes to the financlal Statements
For the year ended 31 December 2024
Accounting Policies
1.1 Basis of accounting
The charity conslilutes a PLJblic benefit entity as defined by the FRS 102. The financial statements have been
prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practi
applicable to charities preparing their accounts in accordarice with the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 1021 issued in October 2019, the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011, and UK
Generally Accepted Accounting Practice.
The financial slalemenls have been prepared lo give a 'lrue and fair, view and have departed from the
Charities (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a 'lrue and fair view.
Thi5 departure has involved following the Accounting and Reporting by Charities.. Slalemenl of Recommended
Practice applicable lo Charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 1021 issued on 16 July 2014 rather than the Accounting and
Reporting by Charities.. Slalemenl of Recommended Practice effective from 1 April 2005 which has since been
withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified
lo include certain items al fair value. The financial statements are presented in sterling which is the functional
currency of the charity and rounded lo the nearest £.
The signifi'cant accounting policies applied in the preparation of these financial slalements are set out below.
These policies have been consislenlly applied lo all years presented tjnless othetwise stated. The charitable
company was incorporated on 18 July 2022. The amounts shown for the current year are for the 18-month
period ending 31 De￿mber 2023.
1.2 Going concern
The accounts are prepared on a going concern basis. The charity holds significant cash and investment
balances, and the majority of its expenditurè is discretionary rather than commitied. The trustees have
approved the Foundation's budgets and forecasts for 2025. have considered the resources available in 2025
and conclude that the Foundation has adequate resources to continue in operational existence for al least 12
months from the signing of the financial stalemenls.
1.3 Fund accounting
Unreslricled 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.
Reslricled funds are funds which are lo be used in accordance with specific reslriclions 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 lo
the financial slalements.
14

The Northern Powergrid Foundation
Notes to the financial statements (Contlnuedj
For the year ended 31 December 2024
1.4 Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charily has enlillement to
the funds, any performance conditions have been met, the amount can be measured reliably and il 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 constrLJclive obligation lo
make payments to third parties, it is probable that the selllement will be required and the amount of the
obligation Can be measured reliably.
Irrecoverable VAT is charged 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 bul do not directly represent charitable activities.
They are incurred directly in support of expenditure on the objects of the charity.
1.7 Debtors
Debtors are measured on initial recognition al selllement amount after any trade discounts or amount
advanced by the charity. Subsequently, they are measured al the cash or other consideration expected lo be
received.
1.8 Cash at bank and in hand
Cash al bank and cash in hand includes cash and short term highly liquid investments with instant access
from the d2te of opening of the deposit or similar account.
1.9 Creditors and provisions
C￿dItorS 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 lo sellle the obligation can
be measured or estimated reliably. Creditors and provisions are normally recognised al their settlement after
allowing for any trade discounts due.
1.10 Financial instruments
The charity only has financi81 assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured al their
selllement value with the exception of bank loans which are subsequently measured at amortised cost using
the effective interest method.
15

The Northern Powergrid Foundation
Notes to the financlal statements (Continuedj
For the year ended 31 December 2024
Donations
2024
2023
Donations
Gifts in kind
7.570,080
60,134
60,134 7,570,080
Investment Income
2024
2023
Investment income
71.636
71,636
Expenditure
Direct
Support
costs
Total
2024
costs
Charitable activities
Payment of grants
Wages and salaries
Sundry expenses
Support costs
486.632
58,348
35,841
486,632
58,348
35,841
12.075
12,075
580,821
12,075
592.896
Direct
costs
Support
costs
Total
2023
Charitable activities
Payment of grants
Sundry expenses
Support costs
743,359
808
743,359
808
5,400
5,400
744, 167
5,400
749,567
16

The Northern Powergrid Foundation
Notes to the financial statements (Contlnuedj
For the year ended 31 December 2024
Support costs
2024
2023
Governance costs
Audit fee
Investment manager fees
5,700
6.375
5,400
12.075
5,400
An analysis of grants made to oroanisalions is provided below,
2024
2023
Age UK Barnsley
Askwilh Village Hall Ltd
Bamburgh Parish Council
Birtley Village Hall Committee
Blanchland Parish Council
Byrness Village Hal
Cambo Village Hall
Caslleton Village Hall
Challon Village Hall Trust
Cowshill Village Hall
Dalton Village Hall
Delibs in Memory of Dr Alan J Sykes
Deric Youth and Community Project
Dipton Community Association
Easlgale Village Hall
Eldon Cornmunity Partnership
Elsdon Village Hall
Elherley Parish Council
Friends of Eastwoods Park
Future Leisure in Coxhoe
Great Lumley Parish Council
Helperby Village Hall CIO
Hexham and Tynedale Community Trust
Highfield Parklwoodland Gardens Community Association
Holy Island Village Hall
Humshaugh Village Hall
Jubliee Fields Community Association
Kibblesworth Village Millenium Centre
Kilburn Village Institute
Kirkby Malzeard Mechanics Inslilule Village Hall
Kirklevinglon & Casllelevinglon Memorial Hall
Kyffin Place Community Centre
20,000
19,200
17,619
13.860
15,796
20,000
19,034
20,000
20,000
7,948
15,000
5,076
9,000
20,000
19,000
20,000
7.309
6,595
13,476
10,000
20,000
20,000
20,000
10,930
10,008
20,000
19,775
20,000
13,051
20,000
15.589
9,601
17

The Northern Powergrid Foundation
Notes to the financial statements (Continued)
For the year ended 31 December 2024
Lands Village Hall Association
LesbLJry Village Hall
Longframlinglon Memorial Hall
Long Marslon Village Hall & Recreation Ground CIO
Medomsley Community Action Group
Mirfield Community Trust
Mitford Village Hall Trust
Newbrough Town Hall
Northcliffe Environmental Enterprises Team {N.E.E.Tl
Northern View IBerwi¢kl Ltd
Ollerburn Memorial Hall
Parish Council of Hexhamshire
Pillinglon Community Association
Primelime at The Vine
Rennington Village Hall Trust
Sessay Community Trust
Scots Gap Methodist Church
Sherburn Hill Hub
Skipsea Village Hall
Stanhope Community Association
Stanley Crook Village Hall
Slocksfield Community Association
Slonehaugh Community Hall Trust
Sunniside Community Association
Sullon Upon Detwent Village Hall
Swillinglon Village Coun¢il
Tees Valley Community Asset Preservation Trust
The Big League CIC
The Glendale Gateway Trust
The Nelherton & District War Memorial Institute
The Village Hall Winleringham
Todmorden Learning Centre and Community Hub Ltd.
Walker Memorial Hall Aldbrough St John Village Hall
Weardale Community Partnership
Wesl Allen Parish Council
West Auckland Memorial Community Association
Wetwang Village Hall
Wingales Village Inslilule
17,055
20,000
20,000
6,958
6,418
20,000
20,000
20,000
20,000
20,000
13,277
17,485
20,000
18,285
19,574
20,000
6,351
15,000
11.500
19,200
16,500
15,000
17,000
18,485
18,223
17.987
10,620
20,000
20.000
20,000
17,640
20,000
12,400
5,671
20,000
19.887
19.254
12,987
18

The Northern Powergrid Foundation
Notes to the financlal statements (Continued)
For the year ended 31 December 2024
Whitley Bay Big Local
Whillingham Memorial Institute
Woodland Village Hall and Recreation Ground Charity
11,782
19,663
20,000
459,056
723,014
Grants under £5,00116 grants)
27,576
20,345
486.632
743,359
Net incoming Ilexpenditurel
Nel incomel{expendilurel is slated after charging
2024
2023
Audit fee
5,700
5,400
Analysis of staff costs. trustee remuneratlon and expenses
2024
Wages and salaries
Social security costs
Other pension
52,644
5,704
58,348
The average monthly number of employees during the year was 1.12023 - £nill.
The number of employees whose annual remuneration was £60.000 was £nil.12023 - £nill.
None of the directors of the Trustee lor any, persons connected with them) received any remuneration or
benefits from the Foundation during the year.
Total Iruslee expenses amounted lo £nil.
19

The Northern Powergrid Foundation
Notes to the financial statements (Continu8dJ
For the year ended 31 December 2024
Fixed asset investments
Total
2024
Cost or valuation
At 01 January 2024
Additions
Disposals
Realised investment income
Investment Manager Fees
Valuation gainsllosses
6,550,000
1297,1721
71,636
16,375 }
5,444
6,323,533
Historical cost
6,283,748
Listed equity investments that are lfftded on a quoted market are held at fair value determined by reference lo
the quoted price for identical assets in an active maiket al the balance sheet date.
Creditors: amounts falling due withln one year
2024
2023
Accruals
Accrued grants
5.700
314,059
5.400
319,759
5,400
20

The Northern Powergrid Foundation
Notes to the financial Statements (Continued)
For the year ended 31 December 2024
10, Analysis of funds
Year erFded 31 December 2024
As
at1Jan
2024
Asat
Investment
31 December
Income Expenditure galnsllosses Transfers
2024
Unrestricted funds
General funds
6,820,512
131,770
1592,8961
5,444
6.364,830
Period ended 31 December 2023
As
at1Jan
2023
Asat
Investment
31 December
Expendlture gainsllosses Transfers
2023
Income
Unrestricted funds
General funds
7,570,080
{ 749,567 }
6,820,512
11. Analysis of net assets between funds
Year ended 31 December 2024
Unrestricted
Funds
Fixed asset investments
Current assets
Current liabilities
6,323,533
361,055
1319.7591
6,364,830
eriod ènded 3f December 2023
Unrestricted
Funds
Fixed asset investments
Current assets
Current liabilities
6.825,912
15,400 1
6,820.512
11.
Related party transactions
Northern Powergrid INortheasll plc made a £nil12023- £6,954.8801 donation during the period.
Northern Powergrid Iyorkshirel plc made a £nil12023 - £615.2001 donation during the period.
21