C¢xnp•ny No.. 01853927 c￿rfty Rwd No: 290611 Natit>nal En•ryy Actlon Op•rntlng *• NEA (A Ch•rflabl• Company umSt￿ by Guarant••) R•port ol the afArd of Tru•t• Fthan¢l*l Slat•rn•nts - for tho y•4r •nded - 31 IAar¢h 2024 NAfioNAL ENERGY ACTION (Op•rallng u NEA) R•port of th• Board of Tnwto•• •nd Fln•ndal St•t•m•nt• for th• Y•ar •nd•d 31 Mafch 2024 TRusfEES ANNUAL REPORT INCLUDING ThE sfRATEGIC REPORT FOR THÉ YeAR ENDED 31 MARCH 2024................................................ . ..>18 XNDepENDENT AUDITOR'S REPORT TO ThE MEMBERS OF NATIONAL ENERGY AcfioN........ .19-21 srATEMEKf OF FZNANCIAL ACTivmES INCLUDING THE INCOME AND EXPENDrnIRe ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024...................................................................... .22 8ALANCE SHEEf AS AT 31 MARCH 2024........................................ CASH FLOW STATEMEirf FOR THE YEAR ENDED 31 MARCH 2024......................... NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 .-. . Pw2o14• N8¥oMI A¢tlon IOP•rnllrw *• IieAI TRUSTEESANNUAL REPORT INCLUOING THE STPATEGIC REP¢14T FOR THE YFAR ENDÈD 31 PIARCH 2024 The Tru8tee8 prèsent thair Annual Report Includin9 tho Str•teglc Report and tha audtted fln8nclal •t•t•m•nts of the Charity for the year ended 31 March 2024. Rof•r•nu and admInI•￿tlY• d•tall• Company No.. 01853927 Charity Reg. No.. 290511 Busingss Address.. eth Fknr. West One. Forth Banks, Nowcaslle upon TYM, NE13PA I￿j￿P9nd0nt Auditcn.. PKF Littlejohn LLP, 15 We$tfery Circus. London, E14 4HD Principal Banker8'. HSBC Bank pk, 110 Grey Street, Newca￿8 up)n Tyne NE16JG v￿mble Bond Dickinson, St Ann'8 Imiarf. 112 Quayside, Newcaglle upon Tyne NE13DX Baroness Mclntosh of Pickering SolKitors: PresAl8nt VKe Presidents.. Lord Best David Green OBE Baroness Hilton of Eggardon ￿ckOr￿sh MBE David Porter OBE Lord Shipley of Gosforth Lord Imiitty Chkgf ExecutNe.' Company SeKretsry'. Tra￿Y Arch•r DKe¢tors and Tru$tses.' The Directors of the ¢haritsble company (the Charlty) are ts Trustees for the purpose of charity law and throughout this report are colleclNety refeffed to as the Trustees. The Trustegs serving during the yearand up to the date of slgning the financial statements were as foll￿0$.. Claire Durkin Chair. Trustees: Syed Ahmed Judrth Damerell lan OeL%)y$ Claire Durkin Jacqueline Gardner David Hall R¢Jbert Howard Frazer Scott Professor Philip Tawor Helen Walker Marfa Wardroba 08E Page J 0140 N•O•n•l ernryy Adlofft iop•rthg u IIEAI TRUSTEESAthV￿ REf%XT IPKLUDING THE STrATEGIC REP¢JIT FOR THE YEAR ENDED31 KWRCH 2WI4 8trUCturn. Governanc• and Manaoem•nt ov rnin Da¢ument National Energy Action (NEA), a regi81er8d Charity, is a company limTted by guarantee and not having a shaf8 capital is govemed in accordan￿ the pr¢viwon8 contained in its ArtKle8 oIAssociation. Th• ArtKl8s of tho charity were refreshed in Ock)bgr 2021. Clause 3 of the Ajtiles ofAssc¢iation provKle8 that member, a& defined by paragraph 3lb) of th6 Articbs of A$s￿l*tiOn, is liabk to contribute a sum not exceeding £1 in the ovent of the Charity being wound up whikg a memb•r, or within one year of ceasing to be a member. As at 31 March 2024 théra wero 374 full mambars and 231 assoclate members12023: 349 and 182, wp8Cti¥ely). rati Na The Charity operates undor the name of NE fation Mana The Charty Senior Management Tèam ¢wnprws'. Chief Exa￿tI Deputy Chief Executive a Programm? Dre¢tor Direclor of Communitigs Director of Policy & Advttacy Director of Developm￿1 & Parthersh¥>s DIr￿tOr of Hom85 Audra Peacock Peter Sumby Peter Smith Oanni Bame$ Colin Timmins Tn￿tee5 Trustees arg appointed in acc￿¢& With the Articles ofAssociation and are ¢onfirmed each year at the Annual General Meets'ng IAGM) of the Charity. A trustee recruitment exerci* is ongoing as Tntstees, temis of office come to an end and replaeemenl tru$lees are to be appoinled during the 2024-25 financial year. Tru$lee$ are recruited vkq a number of Mett￿1$ rKluding adverttsing with specialist age￿Ie$ and webgites, using recruthent swvices provided by the National Council for Voluniary Organisations and the Associab'on of Chief Exe¢utives of Volunlary Organisatw)n$ and via direct approaelies Li" rougii known contacts and from r￿mMenda￿"0n5 whidj could be through business ￿ntrCts or per￿al ¢ontacts of trustees, staff. vwresidents group members and other WKt￿r4nglng The￿orkS. OLbr vacancw are a￿0 advert￿￿ on NEA'S websrte. Charity and through NE4's pages on Linkedln and other social medw platf0m￿. The NEA Board ofTrustees cmiprises indMdua15 who can bring 8 pathular set of skills and expertise to thè Board. As part of the P￿$$ to identify wh￿h 5kn11s the Board arbd charity needs. a Trustee skills Sufvey is carried out a three-yeady basis. The r8sutt5 of the survey are anatysed and d¢scussed by the Board in the light of both the extsmal and intemal environment and the Strateg￿ direclth ofthe charity. lknn there is an kjéntified need to appoint newTfUSt8es. a di8cussion of the survey resurts and any existing or ant￿ipated skills gaps ¢Jn thè Board help to ensure that any new aprM)intment lo the Board not onty complements tho knth¥kd9e, understanding and diversity ofthe existing TfUStees,' ensures an appropriate range of knowlgjge. skills and eyrtise exists to support the charity's Indu Traini Tnmtees rr￿t with the Charit1$ Chay and Chief ExeuJli¥* to di￿US$ tho rde and r05ponsibilities ofthe Charitls Tru$tee5, and inductim sess#)ns for ne* Trustees take pExe wrth members of the Seni?r Managem&nt Team and Crynpany Socretary. Trustee$ arè provvjed with a $upwt p￿k comprising a comwehensNe collection of info￿at1¢ aboutthe Chafty and updales to the pack are Mtified to all Tru$te8s as changes ￿CUr. A secure Tru$te8 webpage sts to hokl additknnal resources for NEA TnMtWS. A8 part ofowing training and d¢vokwenL Tru8tth8 aro wovidthd with OPFQrtunith to attand events throughout the year and to att￿￿ the Charity's Annual Conference and AGM. where maiof issues con¢eming the environment in which thè charty works are discussed wrth representatNe8 frcm provth of wer9y efficiency sorvKes to Iow4ncom8 hou8ehold8, the fijel utilits¢$. health professw)nals. voluntary oiganisatkins, consuThr groups. regu￿tOry bodies and nati¢)nal and local govemment. The annual conference look ￿8¢e in Leicester in D￿mber 2023 and tho AGM took pl￿0 online in December 2023. The 2W24 Conference venue has yet to bo detemiinad. Tho AGM will conlinuo to b held onlin• In ordef to a1tr8Ct tho m•xwnum numbor of pwiKipants. Pry84rf4Q TRUSTEES ANNUAL REPORT INCLUDI￿ THE STFNTEOIC REPCRTFOR THEYEAR EKIEO 31 MARCH 2￿4 TnJstee8 are also Provid￿ wtth sp¢¢1￿ tralnlng okp)rtuniiw, a¥ they gr1￿, in 8reas sueh as Charity gov8mance and financial matters. Four trustees atter¢ded charity gov•rnanc6 f•fro$her training. whilst the Board level Safeguarding champion attendéd rnfresher training in the suty"ecL Trustees ￿11 contiiuo to compkne regular rthshèr cour8a8 In charity govemance, finance and safeguarding during the o)ming year. NE4 contlnue$ to strive towardg ensuring it empbys l)est pr￿t￿ in tnAtees and governance structures a8 well as in its operalions. W?rk ha$ been completed in prtrjucing a scheme of delegatjoll for financial matters. and a simitar exerC￿e for govemance issues is ahmost complete. These documents ensure a clear fram*Hork exists for both trustees and thé senior managefflent team to operate in,. 8nd that the poli¢igs and proce¥ses remain rrt for purFx)se inlo the futrjre. Vlork on the action plan lo ensure NEA Compl￿ with thé Charity GovemarTrce Code continues with an emphasis on embed¢*ng equalty. diNwsty and inclusion across all aftss of NEA'$ WO￿ as ouuined in the Charity Govemance Codg. A People and culiu￿$ Committee 18 in p*e. The Committ88 sets the pay and r￿ne￿I￿ of the Charitls key managernenl Fofsonnel and any ben¢hmaths. paramétérs or ¢riteria usèd in setting thèty pay, whKh 15 benchmarked by exlem81 Consu￿nts every three years. It also reviaws the NEA temis and conditvJns of emptoyment and provide¥ guidaft￿ and support for staff welfare and organisational cultural fflatters. The Committee met three ttrnes in 2023r24. The Committee was invofved in the transitson to hybrid working Contracts wh￿h was Completed bn year and is overseeing the develownent of a People Strategy whith will cover all aspects of NEA'S emplOY￿n( in¢luding the organisabon's culbjre and embeddlng of equ81ty. equty. drrfersty and inclusion from the front line staff up to Board Trustees are prohibried by NEA'S g¢)veming document of receiving payment lor th•ir role in govemance other than ¢￿t of pock8t expenses. Confltcts of interest are decLqred at the start of each meelsng. There aR therefore rKI declarations to be made regardir¥J any remuneration paid to any servmg Tru¥lee. NE4 15 administered ty a Board of Trust￿3 whth meets a minimum offrmjr times ea¢h year. The Board has a number ofsL5b-committees including a Ccfftmittee for Audit, RièK and Fi,Idn￿ whKh meets four times a year and a People and Cuttures C¢ynmittee wh￿h Meets thre8 times a year. A Polic,. 41kn￿tnY Group helps act as a sounding board for the policy team. Thè Chief Executive is appoirited by the Trus..￿.$ :o ead on the management of daY-t￿daY oFerntions. with reference to the scheme of dolegation. Risk man The Trnst8ès havo a risk managgment strategy that c(Hnprises". A quarterly rgview of the key nsks at exh Board meetsng I09e￿r with a slatus change record: Monthty management ￿vi￿V of the operational and Strateg￿ risks the Charrty may face. and the implication$ of those risks. Considering the controls in plxe. necessary planned responses are documented; Appropriate contro18 including systems and ￿￿edureS to avoid. mitpJale. transfer or insure thosg risks #Jentified in the plan., and Procedures designed trj minimbse any wtential impKt on Chanty sh¢yJld risks materiali*. The NEA Ccrfnmittee forAudit, Risk and Finance (CARF) ensures ttwt fomwl proc88888 for risk rnanageft￿t Are in place and effectivety w0￿1n9 across the organisation. Th8 Committee met four tim&s in 2023r24. In a r6vlth¥ of rMk8 the Tnjstees have recogni8ed the key laong the Chwity are driven by economic and p￿IllCa1 ¢harvJes on our benefthrle$ and our r¢swns• to those ¢halknnge8, including". H*Jh Wholesa￿ gas and oll pr￿- on ¢u8tomfrrn. [￿U18r1Y fv81 pocy arKI those at risk offvel povety. Fau in real Inc4rn- ¥we8wrvJ in Ixeadth depth offuel poverty. are past the worst peaks of the energy prKe GrBis- altlwih the dImen$￿ft ofour fuel povety challenge has broadened and deepened. Tha'FxBl4risis' rn1nd￿t 18 bKomirKJ effit¢dd￿1. The reBwn8e to costryof4iving pressures is moving away from energy bill inteNenttons. The costd4Mng Increases and tho increaso in the energi prKe cap impacted fvel povety ￿Ve15, which waro 5.6milliorts from 1 JLbly 2023. This resultéd in increasèd dernand for NEA Servi￿9. ￿thI15t the likelihood of the risk was anticipated. and tho charity was able to m*e 81Th propWat￿8, th8 #npact contlnued through tha 2023r24 winter months. TIIUSTEES ANMJAL REPORT THE STRATEGIC REPORT FOR THE YEAR ÉNDEO 31 PaARCH 2024 The Chaiity 9trengthenad its publK facina staff r060urc88. ii¢rea8ing the number of 8taff working with vulnorable households and enhancing wintèr support packages; offering wac1￿1 arKI financial old. Standardisation of advlc across an expanding team was reinforced by a ded￿thd cl*nt QA rol8. A ¢hat lacility Mntinu•8 io complemgnt tho tekphone advice Ilne and Col￿a9Ues wer• apFYopriatety equ4ip¢d with add1b0￿1 training in profgssK)nal boundariu and 8afegu8rdiffj. The UK GJvemment'8 cmimitment to Fud Po￿ty giwi tha comWJ'ng prityibw for pUb￿C funds. The high who￿ale gas and ¢11 pri¢es and Ihe lall in real inmnes have been lurther impactfjd by polit￿81 uncertainty during the perv)d. Pr￿nting comp8ting prtoritses at govemment le￿1, thk8 increasad tha nsk of InsuffKient action on fuel poverty and inadequate wmmentsl support to IK*usehdds. Thero ha$ recenty been e change of UK Government and a a resu￿ 8 Ikely expwoion of fundad energy effKiency for fvel poor homès. potenlialty with a greater emphasis on I￿alty del￿e￿￿¢¢*ordlrtsIed schemes, NEAwill expl￿8 h¢yw expansion Is planned and delNered, and the NEA has in maxixkqW￿ th8 impact for fi￿[ poor homas. NEA'$ enhanced advocacy capabilty and imprt affords it an inffuential posrtpJn lo onsure a strong awareness of tho c8uses and Consequ•￿ of fvd povety. influerKing P￿1￿1 expediency in offerirKJ financkil support for fuel poor households. During 202Y24. NEA has enjoyed. and bean thallenged by. a sustsin•J pernd of r88pon$ive grth¥th. Responsiva to need and opportunty. have &Jded •Jdib'onal capabilty. capacity and creaw. To rniligate strain on legacy systems and prfxessés. the Charity has embarked on a porKxI of buiness transf0m￿l￿ to prepare NEA to depby those adv8ntsge$ to grealer effect and impact Tho continuing iM￿entation of the FUrK1rai8w￿ Strategy has hel￿d the charity tske advantsge of a range of C¢Jportun￿.eS. on exirapolating and disseminating the less0￿18¥med from our cyrational and adrn aCtivi￿s to provide front4ine evidence on what v￿rkS and wh* doesn't al a grass rcots level for those who are vulnerable and living In a cold. darnp home. emtedded into NEA'S day-tW acbvitigs and conb'nue to provide lesson$ for futuTr policies and schemes for olher pra¢titA?ners in the fiehj. NE4 has increased its poly and adv(w reSoU￿e by provK¢ing d[¥l￿aled resource in l*les and Northem Ireland whibt continuing to work dosdy with our sister Organisat￿n F:nÉ.'?!' . Scoland to ensure th8 lessons ￿arned fI￿n a Who￿ UK approath can be cl￿p￿ed. contrasted ar.d dL4Sp 41AL. Publlc B•n0fft rnport Chale• R•port Vve are coming lo th8 and ofour Fivfryear Strakn. The conlext in wh￿h we remains challenging and the future uncertain. Our current strategy was agreed before the paThdem￿ and cost-of-liwng crisis yet ha$ remained robust and levanl. It has helped NEA to maintin focus on ￿Jr kjnger-lemi objects.ves as we conb'nue to Support the urgent inter4entions demanded of us during the cost-of-lmng ¢nsis. H04¥évÈr. that strategy coukl not ant￿* th¢ of expansion that NEA has exP￿￿￿ed. Over the ￿lOd the strategy. to dale. we have grwn in size, more than doubling our tumover to over £13m. with expectat¥)n of increasing this to over £17m 2¢)24r25. We have also gfown in capabilty. and impact lor our clients. Makn'ng th8 most of that growth. in the $ervi¢e of our charitable benef￿h￿rieS. will t¢ a major theme for the year lo com8. We continued to th'wsfy and deepen our hicomo streams as we have expanded. The NEA Committae on Audit, Risk and Finance have ensured that our gr(hth is pruden( sustaina￿8 and is in line with our strategic objectNes and Chariiable aims. We are a larger and more ¢omplex ¢xganisa1i(￿ but are in resi1￿nt and rob￿1 health with Slrong ffinarKial govemarKe capability and assufance. NEA *vrks on behall of fuel poor housèhokls in England. Ivales. and Northem IreLqrKI. Last winter. NEA estimated that there were 6.5 million househokls Ibving in fuel poverty across the UK That 15 tsvo million more households who we unabb to keep thLyr homes affordabty wami, healthy. and safe during the coldest mnths than at the Start of the energy crisis in 2021. P•q•8 of40 TrUSTEES ANWVAL REP￿ IfrKLUOIMS ThE STRATEGI¢ pepoRT FOR ThE YEAR EF￿)E0 31 MARCH Tathlng this terriblfr realty lor mill*)n8 of peopkn is what molfvates everylx)dy who worf($ at NEA. and th090 who sit on the Board of Truste8s. Th* our moUvatDn rnnalns so high in such d88perate and challenging tlm•# is Iwtamont to ¢)ur resolute datenninalion to irnprove the lives of struggling to afford th• cost of a wann home. l offer my heartfdt thanks to •ll the Staff and tru¥t•M 81 NEA for th•k hard and ¢ommiknant Lwef the yaar and to our partners for your steadfa¥t supporL 8lr•t•gl¢ R•vl•w National En•rgy ￿£t￿n.5 mi¥$K?n is that 'everyone should ba able to affofd to keap tholr homu warm and 88ts'. The activitos undertaken ty th• Charity to carry its ¢h8rilable purkua8 are fty the public beneffit and the charity has compliad with its duty to h•ve due rryard to tha Chgrity c￿nis￿l0n.$ publlc lJ•n•fft guKlanc• when 8xerd85ng any pwrn or duth•s. Our thcacy and Infiuanco, our and ¥upp¢rt services, our awaren888-ral8lng and p8rtn8rship d•v•bpm•nt an work toward this mission. ddNer our missbon through dire¢t 8UPWt to hou¥ohold¥ in fuol povety. influencin decision makin9 to make a L88tr"ng drffernnco for fiJ•l poor hom8¥ and by bulhjing partner8hlp that In¢r•a80 th• ¥calo and 0ffectiven￿ of a¢lion for w4rn1 homm. The year ended with average dornest￿ Onergy prus of £1,928 be￿80n January and March 2024. Dome8tlc ener debt levels 8oar&J. with the average d•bl1ovel in¢feasing by around 50%. with the total nimf •ffting at its highest ev•r levd 01 £3.1billk)n. The number of house1￿Id$ Ai debt IrKreased by around 2￿. In 2023, th• En•rgy Billl Support Sch•m• •nd•d. In July 2023, $0 dld the Eneryy Prk• Guarantog IEPG), Incr•a8lNJ annual anergy p￿rn•￿ts for th? tywal household. Stanthng charp IThu••￿ w¢￿￿￿d tho 8ltuaib)n. 2023f24 vms another year of baknclng th• urgent need to $upport households affected by the ¢￿t￿-l￿An0 crisis arKI athKuting for fvnd•rnntsl act￿n to •radicat¢ $lubbom lu•1 wv8rib tuos$ tho UK 2024r25 Jow a change of govemment and hopefulty a f￿USed a.,,d h￿11. "I debate ¢)n the circumstan￿* in wh￿h ￿me of the poorost and most vulnerable I￿usehO￿as in th¢ UK must and 148 ro￿ of Govemm•nts and others in Iran810rn1ing those cir¢um8tAnces. Everythlng we th), w• do In parln•rnhg wtrth othws. IAtrJ are proud that ty tho and o12023r24 6(Y) offjaniMtion$ dlfferenl 8orts warn members ol N8( W8 Stsrt a y•ar deterniinwj to th our full and uniquo rokn In making progres8 to rOdU￿ lh• numbers suffering in fual pov•rty. ObJ•¢tlvw. •trat•glM and actfvftl •cllvM for the •¥wded th• rea¢h of our Jupportsig morn hou8¢P￿IdS dirKty and rnaching into morn mir9inall8•d cormiunit*s. d•v•lwd m4.ar new wogrwnmel ofwlxk wojnd cold hom• TO￿•d h•AIth impaets and communty $upwrt. pu•h•d lor charq• from c￿ IOp•raung A• P4eAI TRVSTEESANNUAL Y¢EPORT INCLUDING ThE SThWTEGIC REPORT FOR THE YUR ENDED 31 MARCH 2G24 Our Ffv•-Y•ar Strnt•gy- Ev•ry Hom• Should B• A Warm and Saf• Pl•¢• NEA has a fve-year strdlegy th8twil1 enable the Charlty to drfve toward its mS8slon that èv8ryone ghould b? able to afford to k8ep their home wam) and $8fe. The strategy has a strong focus on our beneficiaries. the alignment offuel povwty with tho nel zero agenda and a 1ransf0mial￿n of our coro enabling 8y$tem8 ond proce8888. The Strateqy thntifiwj three kay wh)rftieJ for NE4.. T*¢kllftg th• Wornt Flrnt and bringlng targeted investment lo those whose condiliDn8 afe grave81, who80 need is greatest arKI who have the least ability to act themsofve8. Support Guarant•od 50 good18vo18 of support are avai18bi8 and b88ed on need, not by a 8erie6 of 1)tter￿", and A D•¢ad• of Doll￿ry rK*t onty in enenjy and net zero pOI￿y, but in weffare provis￿. public haalth, hou$lrKJ standards and communlty advro and support Our S-year stratagy 1$ designed so that all NEA activities acro$$ advoca¢y. householder 8UPPOrt and partnership developmenl contributs to one, two or all of our strategic priorities. It require8 NEA to woth over sucwsNe years to build a broader and stronger movement to eradlcale fuel povoty acro$$ the UK During 2023r24 NEA has delivered on its three key priorib85 as datsil8d borow: v￿e and su We supported over 13,000 households living in or at risk of fuel poverty. Of these cllents, 69.2% rewesented complex cases. TheJe We￿ clients who needed additional ¢ar8. handholding, and engagement. Clients a¢¢essing our service last year faced a higher risk of oxperiencing fuel poverty. 8$ well baing more vulnerabl8 to the worst of its effects. Often. these vulnerdbilrti¢$ overfapped. 67% had an income of less than £12.000 a year. and 89% had an income of les5 than £16,000 a year. 27% were single parents with dependent children. 24.2% had at least one child under the age of 5 Iivir.,.! lifl., ',hem. 78% lived in rontsd accommodation- 17.4% in the PTivale rented se¢tor and 61.3% in the SOCFal rented sector. 75% had at tea$t one health condition, additional need, andlor a di5abilty often. thay had mofe than on&. 97% of clients uslng our Wami and Safe H￿leS {WASHI serviee were urkibje to keep their home wami. or coukl onty do so with drfficulty, at point of first contad with NEA. 89% of WASH clients were ¢ulting back on food and other essentials when they c2me into the sarvice. Of our d*nts with a health condilton or disability: 15% had a cardiovascular condition. Over half151%1 had a mental health condilion. 16% had a mu$cufv)skeletal condillon. 18% had a respiratw condition. Providing househokl8 with a range of support. tailored to tholr neods and copabillties, enabled us to find th? most appropriate and timety sdutK)n$ available to them. £4,378.441 totsl financial benefit to cllents secured through Income maximisation and weNaffj support. £2,353,361 immgdialè financial b8nèfft lo client¥ secured through enèrgy-related advice and support. Wo almost hafved the pioportion of our WASH clients who reported Leing unabk8 lo keep their home warn and lrfted 12% out of fuel povetty. We roduwl the prOport￿n who had their hoating on lower or le88 often than they woukl liko by a third. Onè in thrae worri•J1oss atout paying their anergy bills after rgceiving sup￿rt. A fifth $aKI their financial situation had improved and over a quarter {26%1 fell as though their household budget overall was more mana9eablo. 80% (three in five) repjrted knowing more about saving money at home whib 0130 keèping wam. We r•ducad th• proF<¥rtion of WASH cllents who were r8tvJning food all or m081 of the time by a fifth. and doubled the propjtrn who nevar or rarety this. P•9• l of40 TRUSTEES A￿uAL REPORT IKLUOING THÉ STRATEGIC REPORT Fcfi THE YEAR ENDED 31 MARCH 2024 One in three said their pttYS￿￿ heath was erther 8 littla or much botter after 8UPPOrt. with 72% of those Ilnking it trJ the Support they receNed. More than one in threé found th￿r mgntsl h¢alth to bo much or a lilU• bettw after 8UPFQrt. with lust undor 80% of those [w￿1n9 it to the $upp)rt they rnceNed. Wé work in cemmunities as well as wth indrvidual clienls. Our Wanning Communitie9" programme provides supwrt and enorgy solutxins kn some of Ihe most underseN8d and mgrginali$8d communities in England and Wales. Lasl year it ensured that 1.775 vulnerable ¢I￿ts could acces$ Mmmunty*awl, tar9gted support and Overco￿ barrws in accessing mainstream schemes. It also delNered over 3.000 Wntsr Wamith Packs to clients in d8$p8rat8 need. The delp48ry m¢>Yel is based on responding to b¢al ne•J through ¢ollaborat•)n with ovor 80 trLMted local P9thers who understand their sep4Ka users. This past year has ￿fitinued to see record numbers of households in Wales unab[8 to afford tt) knep Wa￿ at home. wrth 98% of all hxer-income households aslinated lo be living in fuel povety. Our polling wilh YouG¢* has also found that Welsh hou¥8hokls were more likdy to tell us Ihey were in enenjy debt than other househokls ¥ross GB and more likety io tsll u8 they were in hffJher levels of energy debt than other hOu￿h0[d$ across GB. well as delpMriTrJ direct suprt athite training Ni Waks. we have: advoc￿ to ensure the needs of fuel househokjs in Wales are at the heart of pO￿¢Y decisions and the public policy debate: frequenty erKJa9ing with national and hxal govemmenc Mintsters. Sene&l Cthnmittees. elected representstives. wulator. industry. media, and campaign pkners., SLKcessfvlty irrfluencing the Welsh lknmmenl to: focus its new Wam HeAnes Programme on proviJing dg8P8r retrofft for those *st able to pay, taking a ￿bI￿. w¢x5t arrtl low carbjn fKSt apwoaGh'. arhl signfftanty increasing the spend Fer propety.. $upport shared calts on the UK Govemment and Ofw {e.g. to help 8ddre¥s deb( provide deeFer protection. reduce standing charges) 0 convena hundr&Js of partners tt> come tOg6lher in ￿aleS to tackle fuel p)verty, via our Wales Fugl Povety Fonjms and Wales Fuel Ptsvrtii CDnference NEA Northem Ireland became a member of the Departn￿t ts Communities F￿1 Poverty Reference Ponel to advise and Supwrt the and emerging Fuel PoNwty Strategy. We gr￿ BeWa$t Warm and V￿1 Prciect by Kknntying Con￿Unty gmups working across seven bCal￿e5 where the prevalence of excess wnler nv)rtalty hag been eonsistentty highgr over the past decades. Thi5 enabled communib'e3 to impThe their scope and reach by extending cpening hcAJr8. providing warm Spa￿ while raL8ing awareness of fuel p)verty and directing solut￿n$ whth induded direct financial supporL cookery lessons and exerc18e sessN)ns fty all age groups. faciltsted thè dissemination of 3.OtK) winter wamith pth across 36 t￿42n188ti0ft$ who doal directy with th08e in need rf 8UkWrt. Our training continued to meet the of ¢ommunities and organtsa1￿fts. thfough City & Guilds. CPD ac¢redited ¢oursas arKI dir• Into hcffles thr(yJgh our reach to 300 indN*Juals who attended our workshops. P¥•t14Q Enwgy A¢thJn l¢)W•tknq ￿ NEAI TRUSTEESANWUAL REPWIKLUDINQ THE SThITEGIC REPCIIT FI￿ YEAR ENDEO 31 kthRCH 2024 Working with our advo¢acy partners. w8 succwsftJty cwnpaigrwd tr. A change lo the energy prKe cap moaning that the prern￿rn faced ty wepayment Gustomers has n¢M been eliminated. Prepayment meter customer8 now face the b)west Charges of any paym8nt type in the cap. Thi8 has in$tsntty r•Juced the ￿er ptrArty gap by £100miMion. A commitmnl from the UK G¢)vemment to spend £￿￿￿10￿ ￿ energy effiC￿¢Y up to 2028, including continuation of kxol aUth￿ty-￿ po¥ety SCh￿e9. The iMp￿nenti￿10n of substantive new rules that Prohibit the forced in$tallation of prepayment meters in vulnerable househokts. This also led lo redress grven to household$ who had undergone a forced instsllation in the period 1 January 2022 to 1 January 2023, expected to total £0.5million in compensation. New ¢onsurner standards for energy Ujstrn. makiThJ it oasier domest￿ custorrnrs to eonlact their Suppl￿[5 and to help provide support dcffiestK cusknmefs who are struggling with their •n&rgy bills. To repre$￿t the INed expernnce offuel poverty and prad1cfr￿ exporience5 of frontline profrssionaLs and stskeholders, the rese8r¢h team has.. Surveyed ¢)ver 1.8rJ) households. InteN1￿ed approx. 70 househohts. Engaged with over 300 stskeholders. Published 8 high quality report8. St¥Ae or partKipated at 17 confwrn or events. In addit￿n. the Insights and Impact Te￿ has i55ued 3 monthly bulletins collating f￿1 wvety and assochqted research from across industy. wliw and a¢ademia', thi8 included 106 publicats)n$ across fields such a5 housing. h8allh. Net Zero, beh￿0￿r change. energy polbcy and Wu￿1￿)n. energy efficiency. povetty and inequalty. Our Plugged In research project w¢yknng with Friends. Fam..l*&H. d¥id T?vellers and supwrted by the Wh¢h? Fund eypiored the INed experience of Gypsy. Traveller, Roma an;: s,N.n￿d c Communrties {GTRNCs) livrng in or at risk of fuel povety through the height of the energy uists in 2021123. Our ffjsewch fouTrJ that Amst half (43%) of surveyed GTRNCS dKI not receive any govemment support thmugh the energy crisis. Four out offfive {80%) househokds weR tyrning the heabng off to save money. with more than hatf (51%) doing this 'all of the time. or'some of the time.. Energylfuel is unaffordable fc< more than 70% of GTRNC households. M¢)ra than half {61%1 roported borrawing money to pay for eneDJylfuel in the last 12 mnths. ¢Jnmunrcabons NEA has sought to ènhance ￿ communicalixB ouk(rn xn)ss events, Ir&Yibonal and s￿La1 media as part of our bigger voice W0￿$treaM. NEA had a 62% increase in print and online mentM)n$ with 7,854 artKles quotes and opeds in print and online media (up from 4.847 88 at 31 March 2023). NEA had 1,677 8road¢a$t appearance8 and 9.531 media nxntw)ns and appearances. NEA also add&J 4.090 social medh1 folkpwern i￿luding 777 on TwitterlK 347 on Fa¢ebcoK 1.925 on Linkedln ar￿ 599 ￿ In¥tsgram. Pw10of40 Nauonal Enorgy A¢tlon IOp•r•Vng *¥ NEAI TRUSTEES ANNUAL REPORT INCLUDING THE STRATÉGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 ven This year we hekj our national Conference in Leice$ter and our Wales Conference In Cardrff. Our Leicester conference had 352 delegates registered,1319 in January 2023). Including tha sponsors OVO and Cadent as well as NEA, 28 organisalions exhibited al the conferenc8. We sent 98 N¥eets over the IhreHfay period. with the hashtag #Energycrisisconf, which received 41,200 impressions and our posts on Linkedln reached 2,900 accounts. 1000A of respondents were eilhgr'$alisfied' or 'very $atisfied' wih the confeTrnce overall. During 2023ll4. over 500 stskèholders attended our Regional Fuel Povety Forums. NEA'S Fuel Povety Awarene$$ Day had 183 media mention$ and wa8 trending fifth on Twittertx. Thousands of organisaltons and indNiduals supported us on tha day. which meant th* the hashtag had a potential reach ofjusl under 11 million. We engaged elected officials, s￿UrIng support from nearly 50 MPS, our awareness day was mentioned in Partiament and the Cross-Paty Group in Wales held in the Senedd that day. Traini NEA'S Training and Assessment team continued to develop new and existing products to respond to identified gaps in existing skills and education provision. This included the launch of a new NCFE Level 1 Course and qualifi￿tI)n 'Using Energy in the Home, qualification, a bitesvze mobile phone friendly Vulnerability E Learnirsg module. an exiended range of digital leaming woducts as well as Water and Energy efficiency related learning products and partnetships. The Training and Assessment team has focussed on the development of new relationships wtth partners that are not in the energy sector. New partners identified inclijde ￿￿41￿90S. HM prisons and other supporting organi88tsons, unNersities as well as an expanded eductiiion c.fte.' The team also successfully passed hvo extemal quality assurani,. audits over the year. NEA trained over 7.600 advisors with attendees indieabr>g that they expect to pass on advice to 16 householders per week, helping around 6 million housvhoids in lotsl. The proportion of course attendees who indicated a good or excellent knowledge of the subjecl prior lo allending a course was 24%. that grew lo 96% after the course. 98% of course attendees Said Ihey aro likely to recommend the course to others. The team also delivered education sessions to 1.300 school Children. Innovation and T hnical Evaluation The team have completed 4 projects in the year including an evaluats'on of Wakefiekl Coun¢il's Mega Solar scheme, Smart Solar in Barnsley with Age UK Barnsley and Energise Barnsley, the evaluation of Smart solar In Cann¢xk with Chase Community Solar and 8e8t the Cold, and the customer engagement aspect of the Northern Gas Networks Redcar Hydrogen Community project. 11 INe projects will move fO￿an1 to the financial year {2024-251. with 8 of these lo conclude during the year. Two new dgmonstratvJn proi¢¢ts have been instigated and will ramp up in the coming year. One will investigate the benefits of optimising the efficiency of gas healing $yslems and making tham ready fof future transition lo heat pumps. The ¢)ther will Study retrofit approaches lo improving indoor air qualty in properties with identified damp, and mouid problems. A second phase of work was undertaken •1 Fi8hwick. Failed extemal wall insulatlon (EW} was removed, problems caused by damp Fonetrabon rectified. and new installed. As a duty of care. NEA and Iheir contraclors also dealt with relalod slruclural. electrical safety. and 9a8 safety issues in the homes, not all of which were felated to the failed EW but were necessary to leave tho homes in good order. 23 hom&s were ompl8led in phase 2. meaning that a lotal of 45 homes have now had problems rectified. Pago11of40 N*tlon41 Eh•ryy Aeuon IopBrn￿Th9 i¥ WEA) TRUSTEES ANNUAL REPORT INCLUDING THE STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 Technical and social evaluation of the properties is ongoing lo ensure that the rectification work 1$ satisfactory I￿th in quanth'talive tems, and also in the perception of the hou8eholders.11 is expected that the results of the evaluation will be published towards the end of 2024. Twelve-month surveys were undertaken on the propertie$ worked on In phase 1. marking the end of the defects pertod for those homes. Any issue5 uncovered during the defects period will be redrfiad. Kgy 8•nefiGlarle8 The key beneficiaries of NEA'$ work are low income and other vulnerablo households, particularty alder people. families with young children and those living with a long-tem illness in poorfy insulated and under-healed homes. In 2023r24 households at risk during the ¢ost-of-INing Crisis were a major priority. Additionally, agencies which support these groups benefit from NEA'S work incltjding other national char￿.e9 and seNice provhlers. The Trustees have Considered the Charity Commission'$ General Guidance on Publ￿ Benefft. Supporting m•mbers By th& end of March 2024 NEA had 605 ordinary members ol which 374 wer8 fvll members who cary voting rights within the challty's constitution. 425 We￿ Supporting Members {fw membership) and 180 Enhanced Members (fee paying}. NEA also has 46 members of its 8u$iness Supporters Group18SG) During 2023r24 NEA held.. 2 in-person member ¢onference$ in September 2023 and March 2024. These were attended by delegates representing 26 BSG member organisalH)ns. Speakers included representatives from ofgem, Commtttee on Fuel Poverty, DESNZ and 8ristol University. 4 Zoom'SpoYighV sessions featuring members AgilityEco, ElectraLink, Evouchers and Kensa Group who presenled lo over 180 NEA standardlordinary members. BSG members also received. via Z¢)om, 4 policy updates from the Policy and Public Affairs team; and 2 project updates from the Homes directorale and Research team This interaction with our memberg enables the sharing ol insiJttt-. campaNJn$. io shape NEA policy developments and Key performance Indicators KPIS for 2023r24 were set to ensure the financial position of the Charity remains strong, that inlemal system$ are robust and that the Charity conkn'nues to deliver the three strategic aim5. In 2023r24: Finan l Mana ement NEA had budgeted for a surplus of £167,875 but has produced a surplus on activities of £378,260. The main reason for the increased surplus is unbudgeted donations. In accordance wth the Reseives Policy, during 2022123 th8 8oard approved the establishment of a designated reserve and a new restricted reserve was ¢￿ated. The restricted reserve related to 8 £600,000 donation which was received from Shell during 2022r23 to carry out additional advice activities. During 2022123, £146,000 of this reseNe was expended and the remaining balance of £454,000 as al 31 March 2023 was expended during 2023124 on these activf£ies. The balance on the restricted reserve as al 31 Mafch 2024 1$ £nil. A further restricted donation wa$ received during 2023r24 of £600.000. Shell advised during 2023124 that they required all of their funds lo be spent by 31 March 2024 (a total of £1.054ml. This requifed signifieanl Changes to planned designated and restricted fund expenditure. in particular the Crisis Fund Idesignaled fund), and the Shell Reslricled Fund. of which onty £300,000 of th& £1.054m was budgeted for expenditure in 23124. The designated reseNe of £1,277,700 a8 at 31 March 2023 r618tes to donations received during 2022123 and during 2023r24. £118.282 of these funds were expended. Further expendiluio against designated funds has had a slower Start than anlicipaled dug to Sh811 requesting that the £1.054m restricted fund ba spent by 31 March 2024. The remaining funds in this reserve of £1,161,418 as 8131 March 2024 will be used in future financial years lo pay for hardship grants. inlervfrntions in relalton lo the Net Zero Transition 89enda and major AdV0￿cY Campaigns. Page12of40 Na¥on•l En•ryy A￿10Th 10p•rn￿n9 M NEAI TRUSTEES ANMJAL REPORT INCLUDING THE STRATEGIC REPC¥iT FOR TrE YEAR E￿￿0 31 IAARCH 2024 S¢>A W Ir￿0￿. Unrestrictsd FuTrts EwdIbj￿ incurred fr¢Jn Dew'gnaled PMw¥e Transfer Restrict8J FuTrY$ Unwlised Gain on Listed 1rnestr￿ts 1419,0421 116,282 1,255.428 312 DelNe 93% of the worf( progtamme was successlulty delivered on tine with 7% of the pr(*3ramma carried fO￿ard Into 2024125 due to agfeed ch8ftges lo delivery schedules.12022f23: 94% of the work programme delNered th 6% of work programme ¢arri•J foThvafd}. Ma men During 2023r24. NEA has adapted to increased capacty lo accommodate demand for services during the current eeonomi¢ dimate. The transf0M￿tiOn of CO￿ proce￿ and systems conb.nues lo ensure that NEA remains flexible. robust and impacltul. Wami Zonu CIC Warm Zones CIC (WZ) wa$ a wholty owned subshliary of NEA During 2018119 IAlami Zones Directors p]a¢ed the ompany into administration and by the end of the 2018119 V+drnl Zones had been placed into IiquKlation. At the lime of IiqLTridation 14VZ owed NEA £1,739,001. The re¢o¥erable a￿￿nt which was included within NEA'S debtors as at 31 March 2023 was assessed as £365,115. During 2023r24 the charity reeeTved the final dividend sum of £394,936 ftom the liquKlalors ofwz and this recoverable amount is £29.821 higher than the amount that was expected lo be recoverdble as at 31 March 2023. Prowsion has been included in N￿.3 accounts in previous ffinanckql years for the WZ net unreeoverable balanee of £1.112.961 but as a consequence of the higher recovery rate, the total bad debt provision for the WZ unreeoverable debt has reduced by £29.821 from £1.112.961 as al 31 Marth 2023 to £1.083,140 as al 31 Ma￿￿ 2024. This reduction has been prctessed through the Charity's Ststemenl of Financial A¢bwties in the current financial year. NEA'S baLgnce sheet as at 1 April 2023 included an Ofgem credilo.. ￿..-ftr8 of £0.313m wh￿h related to the gross value owed by WZ to Ofgem. 11 was dear from discussions held dufing 2022r23 that Ofgem expected the amount Ned to them lo be used lo furKI expendtture on the PreslonlFishwir pFogiamrp.e. During 2023r24. the remainin9 £0.313m creditor balance has been utili*1 and Ofgem credrtor ba.,ar.￿e as ai J-: March 2024 is £nil. At the time of signing. discL¢ssions and prwses to bring ￿.e)ra tJL'trtstiding malters lo conclusion are ongoing. The signifKant level of provision whKh has been made has reduced NEA reserves. but the Board is confident that NEA'S reserves and financial arrangements are adequate to ensure that the chanty remains a goiNJ concem. Green Notwot* Energy During 2020r21. work was caNied out on behaff of Green Eneryy (GNEI in retation to the Wami Homes Discount scheme in January 2021 GNE entered a¢knlnistra￿n. At the time of the administration GNE owed NEA £413,867. Provi$KJn has teen included in NEA'S accounts in previous finanoal years for the GNE net unrecoverable balance of £372.480. The recoverable amount wh￿h was induded wrthin NEA'S debtors as at 31 March 2023 was assessed as £41,387. During 2023r24. based on an UF*Jale from the INuidalors of GNE, no further bad debt provision has been processed through the charty's 2023r24 Ststement of Finan¢ral Activities for the unrecoverable element of the GNE debtor as the anticipated recovery rate has not changed. Thg total bad debt provision which has been procesaed through the charity's Statement of Financial ActNities for the GNE nel unrecovefable balance 15 £372.480. The remaining recoverable balance of £41.387 is included wiihin NEA'S trade debtor figure at 31 March 2024 which is disclosed in nole 15 and rt is ex￿ed that the outstanding sum wll be r￿e1Ved in full. Flnanclal R￿[0￿ ent of Financial Activities SOFA -202 The Statement of Financial ktNit*s ISOFAI shws a nel expenditure on unrestricled aclsvities of £419,04412022123'. nel income £1,530.1151. The transfers into Ihe Chaiivs General ReS8￿e are detailed below and the balance on it has increasad by £952,353 from £3,331.512 at 31 March 2023 10 £4,283,865 {2022r23 £808.699 increase). The reason for P4e 13 of40 TRUSTEES REPORT INCLUDING THE STRATEGIC REPORT FOR YEAR ENDED 31 MARCH 2024 the positwti movement is the transfer of £1.255.428 frLvn the Rest￿ Resgfve to the General Reserv¢ as 8 fasuit ol 8 surpl(frs being eamed on the 2023r24 restricted a¢lFvitses of the CharTty. During 2022r23, as there was 0 Significant increase in donations ￿CeIVed by the chanty, the decision was made by the Board to estsblish a designated reserve of £1277,700. During 2023r24. £116.282 of this reserve has been axponded and the remaining funds of £1,161,418 held in this reserve will be expended in fulure financial years ￿rtt￿ring the charilablo aims of the charity and will include hardship grants, inteNentrons in relat￿n to the Net Zero Transition •3enda and two major Advwacy Campaigns. Fundrai81 mes an NEA'S income is derived principalty from delivery of sevvw fLY a WKle range of organisations. The Ststemenl of Financial Activities shows that totsl income in¢reased by £1,129,475 from a total of £12,163,682 in 2022r23 to £73.293. 157 in 2023r24. a 9% incwse. The increase i¥ principamy a rosult of growih in consultsrKy, sponsorship and grant in¢cffie during 2023r24. During 2023r24, £1,154,940 of inc(Mne was recebved fr(Yn donatw)ns is £1.209,87218ss than tho £2.364.612 wh￿h was receNed in 2022r23. The donalK)ns receNed during the year have been from both organisations and Ind¢v￿￿alS. Since 2022r23, predclninanlty due to bjlh the energy and cosl of INing crises, N&4's public profile has been raised siqnrfKantty wh￿h has resulted in signrfKant donations being receNed from both organisations and individuals. 11 is the charity's intention to use this income to fvrther its charitable aims and objectives and to this end, the charity estsblished reserves in 2022r23. The first reseThe established was a desKJnaled reserve of £1,277.700 and during 2023r24, £116,282 has been expended. The fvnds in thi$ reserve have been used and will be used in future finaneial years to pay for hardship grants, interventions in reL?￿n to tho Net Zero Transition agenda and major Advocacy C8mpargns. The second reserye was a restricted one and it related to the £600,000 which was receNed from Shell of which £146.000 was expended during 2022r23. The remaining funds in this reserve of £454,000 were expended during 2023r24 as a result of canying out add1th￿al advice a¢bvit*s during the ¢urrent financral year. Consultancy and Sponsorship income have increased in total by £612.290 fr(Mn a total of £3,173.477 in 2022rd3 to £3,785,767 in 2023r24. The main reason forthis grtr￿h can be attributable to athlf(ional funding Streams being awarded lo the ¢harity by a variety of funders which include CadenL Northem Gas Nehvorks. SGN, Le￿ster Cty Council. Wales & Utilibes, Norlhumbrian Waier & Orbit Housing Ass(Klati￿ Limrted. Grant income has increased by £1.648.773 from £6.219.002 in 2022r23 10 £7.867,776 in 2023r24. This increase is due to addrÉional sources of fvnding being awarded to the charity by i varigly of funders wh￿h include National Grid, Smart Energy G8 and 8rilish Gaslcentrts. Thi8 growth in grant inr.,::, '.ed the Charty to help fflore vulnerable. low income households by funding fuel payments. repairs anc .'$ ," LK)ilers and central heating systems, the distribution of winter wamilh p*ks and essentlal enefgy eVirienF ',K)Jsetiold items, and the provision ol both welfare benefrts and enefgy advice and training wthin communrty seth"ng5. During 2023r24, the Fishwick- Preston projecfs contractOT5 Seddon Construct￿Tr Limtted, carried out repairs to 23 homes which had faulty exiemal wall insulab'on which had caused a number of issues for the househoklers. This project generated income of £2.284.669 which represents an increase of irKcrfne of £279.163 when compared to 2022123. undraisin NEA has significanty increased its income from general publ* fundraising over the past 12 months through fundraising campaigns. events and inttiab"ves. In order to respond to this opportunty. a newty formed fvndraising team wa5 established within the Fundraising and Partnerships departrnenL The fundraising team compty wih both the Charity Commission regulations and the Fundraising Regulator Cc¥Je of Pr¥tKe to ensure responsible and ethul fundraising activitses. A fundroi$ing Customer Relationship Management (CRMI system has been implemented by the team to safeguard donors dats and ensu￿ full compliance with the Charity CMimk8sion's regulati?ns and the Fundraising Regulator Code of Pradice. No ¢thnplaints have been received to dale by the charity regarding its fundraising activities. ent Under the Articles of A3$￿r￿tI)n, the Charity has ts pNer to invest in any way the Tru$tse$ deem appropriate. The Trustees, having re9aYd to the liquidty requirements of operating the Charity, ils ReseNes Policy and risks inherent in drfferent vehtles for investment, continue to ¢)perale a policy of keeping available funds in interest dep)sil accounts with bts bankers HSBC and Sanlander and with the CCLA Oeposit Fund. Pr￿rItIS1Trg security and liquidity ahead ol y*ld. P•> 14 of40 NaUon•l En•ryy Acllon IOp•rnyne u NEAI TRUSTEESANNUAL REPORT INCLUDING THE STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2024 ran Makin NEA makes grants lo inslilulions to further each of the threa ¢harit•bl8 elms. Grants afe funded by NEA'S funder3 and the volume and value of grants made are agreed with the funders. Grants are paid subject lo th9 crsteria set out by th8 funder. Furthèr detsil of 9rants awarded to inslilulions in the yeaf can bg found In notg 9. In addition. Na4 makes grants lo indNiduals undfjr hardship fund arrangements. These ca895 are referred lo NEA by various care and voluntary Organisat￿n5 which WO￿ dirKtty with vulnerable families and individuals. Reserves Poli The General ReseNe, whKh repr8sents an accumulation of surpluse8 from earned income, is 8vailabl¢ to enable the Charity to continue to fu￿11 its objectives, to meet existing commitmen18 and to provth funds for tangiblg as881 rep18cemenl and proiect development. The policy, agreed by the Board of Tru$le8s in May 2024, is r8vi&wed annual and aims lo proV￿Q sutftienl reseNes tt) meet eonlraclual ¢ommitrnents and a risk-assessgd levèl of funds to ensure Ihe ¢harity remains a going4oncem over the medium term. The Policy also aims to ensure that regeNes are not ex¢essive. The range ag￿ed 8s appfopriale for 2023r24 is £2.7 million to £3.2 million. The Trustees regularly monitor the risks facing the Charity all¢)wing them lo le81 the adequ*ey of the reserves policy in the light of the prevailing economic situat￿n and the current fvnding climats. Tha General Reserve 8$ 8131 March 2024 was £5,447,613 12023r24.. £4,611.2301. During 2022r23, the Board approved th• creation of a designated res8Ne. Th• dgsignaled reserve of £1.277,700 as at 31 March 2023 reLgled to donations received during 2022tt3. During 2023124, £116.282 of this fund has been exp8nded and the remaining funds of £1,161,418 in this reserve a$ al 31 March 2024 will be used in future financial years to pay for hardship grants, inlervenlions in relation lo the Net Zero Transition agenda and tsvo majoi Advo¢ Campaigns. Reserves currenty exceed the proposed uppor reseTve$ level of £3.2m and are expectsd to increase throughout the medium lem to 31 March 2027. The plan lo reduce NEA reserves to wittiin the prefeffed fange has been approved by the Board in May 2024. Golng conum consldoratlon The Board and senior managem8nt have considered both ttr,c ie'.'*".')i leierves and the ongoing impact of the cost of INing and energy crises on the charity- Folbwing a review r'l i."jl.Ii rur.*."a.'Is, planned operations and financial implications.. a satisfactory percentage of income has beep. '-: pc Jr￿rI l¢Ji' the next 12 months and there is sufficient anticipated income lo cover the costs of the charity well initj ?ni41,-' [,'4k.ing into account all potential limitations on the delNery of outcomes or the finalising of income str¥arn* oi'l,:" r,f 12 months. the charity is satisfied ihat it remains tn a satisfactory financial posltion as a going con¢eiii aiid Il Will endeavour to maintsin its reserve5 position. Plan8 for tho fvtur• and now OPPOrtunftl•8 Our Thf••-Y•ar Bu$ln8ss Plan The 2022f25 busine88 pian Klenlifies five core thallenges and eight key transformation work8treams. The core challenges will inform our annual planning. They are.. 1. The ￿$t of living ar￿ the energy crises will continue to challenge NEA as an &Jvocate and advice provider. We do not aim lo be a t8rge•seale advice provider $0 we need lo be clear what wg provide. how we provida11. what th8 lim'ts and boundaries of that support are and what P¢)W8rful insight w& can generate. 2. Polit￿al considerations could threaten progre88 in some of our koy advocacy araas or il could create opp)rtunilies for iadical Changes in the approach to fuel povety and warm hom68. We may n89d to surf political opportunity. not work within a stabte policy re9imo. 3. Energy Efficiency in fuel poor homes is at the heart of our Strategy. However. action to deliver Vvarm Homes wrthin the de¢arbonisalion of h8818genda may remain at too small a scale lo havè a Significant impacL Longer lemi solution5 to fuel poverty need to be promoted along8kle lor lo compensate for inadequate) mil￿allOn actK?n. 4. The compositKJn and regulatory fromewod( for th8 retail energy market will be subject to 8lgnifieanl change. Consolidation of suppli818, 18du¢tion of cost base and measuros lo slabilise the retail market present an opportunity to put in placè deepef pric• protection for low-income households alongside likdy chang&s lo thg price cap mechanism. Pog• IS 0140 TrUSTEESAhNl￿ REPORT IPLLUOING The STPATEGIC REPORT FOR TFE YE￿￿ E￿ED 31 N￿RcH 2024 5. Hu4¥ come8 Out the other end of the COVID rn8lricti)ns coukl change the char¥ter of the charity as a place to work. our delNery models. our r￿rUItrneftl. accunm4>Jalion strategies. $y$tem$. and pfo¢edures. The charity. our peopL9. partners. and clients ttave a range of preferenc83 and needs. A number of transttional workstre•n8 8re ouliined in our businesy pl8n to help NEA resporHI posrtivety to a number of chall¢nges. Delivery on the wortstr88ms is gtsggered ovef the three year life of the bu8ine88 ￿an, bul work on all of them ￿ underway. Eath wothstre84n 18 summarised bg10w. Advlc• SoThlco Strnt•gy NEA 8dw$es arKI yuppyts thousands of hwhthjs tach yoar. do not plan to into a large4cale advice provider. but we wll continue to wowde 8thice to help households, undersland their issues, understand the Strength and weoknesse$ of support pr(¥rammes and gNe NEA authorty as an advO￿te. This dolivery also generates important in¢kJne lo fund the charity's campaigning actsvty. During 202Y24 we were a multit FLisitNe OPF*yiunrties for th2 ":bJ:-ih' .'-& our people. we will.. Aim.. To create emptyment condttin3 that offer flextjility lo :o.Ic'? J.I": .Illiact and retain hyh calibre apPI￿nts and that enables the charity to deliver effectivety and e￿￿lentlY for I￿ne11& of ouf beneficiaries. Div•rne and Sustalnablo Fundin9 For the continuing $u$tainatslty of NEA we must and are keen lo diversfy our sources of funding to pemiil an increase in unrestricted resource for our funcbons and lo reduce dependence on the re5trictNe nature of industry and defined fundin9. To do thi% requires a strong review of skills and cOmpete￿ie$. ambitions and focus. brand pmjection. Aim.. We bec4Jne more active in the energy space and &toss other areas of focus. prosecuiing our ¢83e to l)ec4yn8 more impactful both in reach and in oul¢omes. A Louder Volc• th numbers in fuel poverty Iikety to continue increasing. opwrtunits'es to drive moro radul solutions are av8i18ble but within a very crowded environment around eneigy ￿l¢e$, Icrrt carb)n prionb"es. heallh Pr￿nb"e$ and others. We need to a￿cUlate the experience of households in fuel povety ever kil￿ty. Our ambitwi wrth media. effectiveness in using case 8lud*. ¢krity of and persistence of apwoxh will 41 need to be up to the j¢)b. Aim.. We will grow our advocacy and campaignin9 wiability and Nnpx( lo deliver the great&sl wsitivg impact for those liviryJ in fuel povety. 6. A Blgg¢r Mov•m•nt NEA is part of a b*Jger fvel povety movement and the bp3ger that movement the morn effective NEA will be as a campaKaner. faalitator of act￿ afbd delivery partner. The movement 15 broader than our membership, but that membership is viial to help othern See htY•V their prioritses fft with fuel ￿vety a1￿latIon and how small actions for moro Pay 16 of40 TRuSTEESA￿jAL REPORT IfvCLU0IN￿ ThE STPATEGfc REPCftT FOR TrE YEAR ENDED 31 IWCH 2024 org8nMtcfis add weight and pjwer to NEA'¥ mis8k>n. W• have made g¢y)d Steps butwill u8• the •nergy crlsi$ and th• Net Zero IM￿rat￿ to grow the movwnent Aim." W• wlll not achiwa our vijton alone. will grcm the netth of c￿nI￿alK)n* c(xnmilled to our vlslon, to ampl our vou. and raise fuel powrty up fv agenda. 7. 8uslne88 Int•lllg•nc• busin•ss Intellig•n￿ rol￿ on equalty effective systems and pl￿8$$e5. Changgs to thg d88ign and delivery of projecis, pathers. fvnding types, reporting requirements arKI cl*nl infrjmiabon has evcAved. As a rosuk. there ara too many moving p•rts to our procedures and we neod to make sure that we r8tiMalise. simplfy and rn&ke fbt for the foreSeea￿e fvture. Aim.. To en8urn inf0M￿lon Ihjw 1$ xcurate. with minimum ￿pthjnty for error. to alltrw anatysL8, predietkin. monrtoring ertd foedback to all std(eholders. To ￿ an agite partner arvj delhery a￿t. Evaluatlng ProgrM• Thvd businosj pLgn amwnts to a signifunt transfrymaliM pmgraffrfne across Ne￿ have Idenlif￿ aws wh￿h a￿ essential for NEA to n￿)ve forward eff￿twety ar￿ wrth greater impact. have also ideniffjed inevitable deP￿dancies. ¢ontingenaes and pinch points. IAoreover ￿Jr annual DelNery Plans during this bu5in8$s plan will have mre specfft, fvncbonal tafgets to dipft fward our tstrateg￿ agenda. We will build a ¢ultur8 of open evaluat￿ ofsuccess and setrAths to keep our $tAtagy bjsiness plan alive and relevant for ¥tsff. and trjstees. Aim.. We understand h¢74¥ effective we are in prc*Jr•s$ing our strategic airs during the strategic pernd, allowlng us the opportunity to shar• su¢eesses. reviw and rBTh8ssess cmjr d8lN¢ry plan, and take ¢orrective actvjns where required. NEA win rewsit our long-term strategic prityitw in 2024r25. Al the hewt will be NEA can dr*w upon the experience of wnt years and the chaI￿ngeS in front cd us lo ensure th* we deliver for our beneficiaries- a dlenl at a time and by drp4irYJ syStsM￿ chany. NEA ha5 grown into a larger charity. In 2024r25 we will begin a business tran$fom)ation wogramme to bring our rApabilth'8s. systems and prctesses into Ine with our si28 and complexity. We will build out wr community wigagement wcrfk to supp)rt in their areas and to bu1￿ e8p0bilty In local organisations. We will lo provide mor• support to our benef￿laries and bA-. I L.. ::1 d*derstanding and engaging wilh low carbon trans￿0￿ in their CY4vn homes whether that is heat tixhnokngy. ln5diatK￿. behavKiur or mat*et offers. Pro•p•¢ts lor 202412S Fud poverty numbers will remain at extremely conceming leve15. FinarK1￿ Support with energy bi119 will fall 8way. The Govemment may re¢onsider support for fvel poor households. Demand for our seNw will remain high. and alwh we a(W grealercapacty in 2023124, ￿ will not b8 able to SUPFQrt everyone who approaches us, and ¢ertainty not suFwrt them adequately. IN• expect to see our major devdopment progranwnes such as Warm Homes Httallhy Fubjreg and Ctxnmunty Retrofit Hubs take shap8 and deliver strong outC4yne8 for clients. V4* expect to conx*lthte thosè programmey and explore th¢ sccy lor extens*?n in cmiing yeats. Far 2024r25 we will have a 8trong focus on rntwnal syst￿$ tranSf(ffi￿ and the devekynent of a People Strategy to build on our gr￿th in servke$ and stsff. Our fiv&year strategic ot4ective8 have proven to be well fram•J. even th¢)ugh they were agreed beth the pandom and cost of living ￿7315. In 2024125 NE4 will set our sights on the next period for NEA and lor our benefick?ries. statu• of th••• Flnanclal St•t•m•nts These financkql stat￿ents arn prwr•d in aecord8nce with Uniled lfjngdom Accountlng Stsndard$, compriging FRS 102 and in compliance wrth the compani￿ Act 2006. Charities Act 2011 and the Charitios SORP 2019. They hav6 P•B• 17 d40 NaUoMI er*rgy Aclon lQp•rnllnq 1• 14EAI TrUSTEE8ANNUAL REPORT IIKLUDING THE STPATEGIG REPORT FOR TrE YEMR Et•DED 31 IWICH 2024 been audit￿ in accordance wrth 475 of the kt 2LKK. ACCord￿g￿, the•e Financl81 Stsiem¢nts are the statutory account$ of NatK)nal Energy Actw)n for tha y•arended 31 Morch 2024. Stat•m•nt of Tru8t••s' mponjlbllltl Tho Tru8tw (who directh of NaliJ181 Energy Aclion fty th• purp)ses of coMp￿Y L8wI are r•8pon8*)K8 for préparing the TTugleeg' Annual Report {induding the Strateg* R•pTht) and th• finandal statem￿ts in acwrdance with applmblg law and wulalw& Company Law requires the Tru¥tee$ to prepale financial Statements for ea¢h financial year. Undw that law the Trustees hwe prepared the ffinoncial sLgtements in accordance wFth Unitsd lthngdom Accounting Standards, c¢Jmprising FRS 102"Thè Financk91 Repo￿n9 Slandard a￿lc•￿e in the UK and Republ￿ of Irelan¢f. and applicable law {United Kingdom Generalty Acwted Aceounting Practicé). Under Company Law the Trustees must not approve thg financial statements unless they ara satisfied that they gNe a true and fair of the state of the affairs of the charitsble c¢mpany and of the incoming resources al￿ applutson of resources. including the income 8nd eXporKli￿re, of the ¢harrtabl8 Company for that year. In preparing these financtal statements. the Trustees are required to.. Select $uitabkg accounting p)[￿￿5 and then apply thom c(Thist8nty: Observe the n￿th¢48S and principles in Ihe Charitss SORP." Makejudgments and estwnates that are reasonab￿ and pNden¢ Stale whether FRS 102"Th6 Finanual Rewrting Stsndard applicabl8 UK and Republ￿ of Irelanrf h88 b folkJ¥ed, subject to any material departures digcbsad and expL4ined in the financial ststemenl$.' and Prepare the financi81 statsments on the goiro concem basis unlass it Li inappropri* to presume that the charilable ￿paThy will continue in business. The Trustees are fesp)nsible for keeping adequate accounting recofds thal are sufficient to show and explain the charitable cc¥npany's transad*)ns and disck)se reasonatde accuracy at any time the financial positK)n of the ¢harit8tJle ccffipany and enable to ensur8 that the financial statements compty with the Companies Act 2006. They are aFs0 responsib￿ for safeguarding the 8$8ets ol the charitsbk8 coryany and hence for tsknng reasonable steps for the prevention and delectim of fraud ond other irregulariiies. The Trustees are W$1b￿ for Ihe maiitenance aThJ integrity of charitabk conyany's website. LegiSlat￿n in tha Unrted Kirbgdom goveming the preparat￿)n and disseminatK)n of finarKial statwnents may drfter fron *tslats"on in other jurisd￿tionS. Indep•nd•nt Audltors PKF ￿￿1"ohn LLP wern ¢Mfirmed as lftdewdent Auditots to NfrA for A02312.4 al the Annual Gerwal Meeting in Dttember 2023. St•t•ment of diselo8urn to audllorn a) So laras the TnJstees are aware. there is no reknnt aJdrt inlom.ialK)n ofwhd) thé Charitys auditors are unaware,. and bl They have taken all the steps that wht to have tsk8n as Trustees in order to make themsefves aware of any relevant 8¥Jdit Informatic￿ arvj to e¥tsI￿l$h that the Charity's auditors a￿ aware of that infomiation. The Trustees Re￿rts. inclLtding the Strategic reF#)t are apwoved and authwd for kssue by order of the Board of Trustees.. Tr•w Arch•r CompAny S Date: 25 Juty 2024 Py 110140 1nd•￿fid•nt audltoe• r•part to th• ffl•mb•r• ot N•tlon•l En•ryy A¢tknn R•port on th• •udtt of th• IIMncl•l •tat•m•nt• Oplnlo have audited the finanGial statoments of Natmal Energy Acllon {tho'charltable compony.) forthe year •nd¢d 31 Mar¢h 2024 which ¢ompri88 the Statement d Financial Acliwbes including the In¢ome arKI Ex￿nditur￿ *knJnt. Ihe Balanco She•( tho Cash Fkxv Statement and nots$ to the finanua 31alements. including $vJnrftsnt 8ecounting WI￿[8￿. Tho financkql re￿irl￿ framawort that ha$ been applted in the￿ wepwation li applicabkn Jw* aiKI Unit•d Kingdom Accounting Standards, including FRS 102 The Financial Rewting Standard 8pplical)le in Ihe UK and RepublK of Ireland (United 1fjngd￿n Gen•rnlly h£¢•pt•J ACc￿nting Prxtr•). In our ￿inion, the fmanrjal Ststrnts: gNe a aThJ f8lr of the state of the ¢harilabl• c￿Par￿• 8ffaKs 09 * 31 March 2024 and crf Its irKomi resources ￿ appIl￿tiOn of r690urrns, inchAiN its and •xpenditurn. for th• year tr*n ¢nd•d: have boon proporty prep•r¢d in aecorf•nco wlth Unit•J ￿n9￿M Generalty Attepted Acctyjnling Practice, . and boen prepared in accordance *ith th• rwjirernnts oflh8 C￿nieS Act 21Th. Ba811 for oplnlon Illa conducted our audil in acC￿dance with Intamationd Standards on Audiling (UK) (ISAS (UK)) and appltable law. Our reSp(￿S￿lI￿lIeS urvjer those standards are furthor d8scrtsJ in the Audrt¢¢s resp2nsibiliti8s for the audit of the financial ststements séctitin of our rewL We are Ir￿￿jen1 oftho charitablo ¢w)any ui att0rd￿ with tho •th￿al reqJirements that are reltrrfant to ouraudit of the financial 5tat¢ments in the UK including the the 'FRC'$' Ethical Standard. ond we have our ¢)ther elhul roswnst>iI￿8S in acc￿dance with Ihese requwernènts. believe that the audit evmlence we haNE obtair￿d 1$ suffi*nt d appropriatè to prowde a basis forour cynion. Concluslon• rnlatlng to golng conc•rn In auditing the financial Statwnents. we have ¢oncluded that the tnjstees. uso ofthe concom basis ol acwting in the preparatKin of the ffinanoal statements ts appropria: . Based on the woth we have rthed. we have not w¢iirfwJ arry Maten￿ unwtsintw rdating to vlents Ix ¢¢ndilion$ tha( individualty c*collectively, maycast sVJnrf￿ant¢￿jUbt0n the tharrtable eompanys th.lty to continue 8$ a going concem for a p￿d of at laast hvelv• months from when the finarKial slalermnts are authori￿ far issue. Our resp)nsibilrtw and Ihe respo￿lti￿lI1e8 of th8 trust80s with resp*X to gcry corwxn are dewib•J li the ralovant sections of this rew Olh•r I￿orn￿ll•n The other inf0m￿t￿)fi C￿npriSeS the inftjmiation IrKlUd￿ in the truste8s' annual rgp)rL othgr than thè financial statements and our aLbJitsrfs reFQrtthoreon. The trustees ar• fesw)n$ibl8 forthe other infomwtion contained within the tru$tees' annual rer￿rL Our opinvJn on the fmarKial statements ¢Sxs not cow the other Info￿aliOn and. excgpt to the extant othepwise oyplty 8tatad in our repor( ￿ do not expre$8 8ry form d assurance Condu$￿ thereon. Our responsibility is to read the other infmtion and, in ¢*xng 80, C￿sider whether tho Othor infomwtton is material ine<>nsl8tent with the financial statements or ¢wr kncMA* obtained in tho course of the audit. or otherwse appèars to be matsrialty misstated. If we identsfy Such material inconsi$1gncps or appar8nt matsrial misstatements, we aro required to dtrtermine whether this ¥W•S rise to a matwwl misslatthn•nt in the financial statements Ihemsefves. If, based on th? work wè have perfomied. we conclude that thern is a material mtsstatemenl ol this other infomialion, we are requff&J to report that faci V¥ts have r￿thI￿a to r•wt in this regwd. 19 0140 Oplnlons on oth•r matt•r• pr••crfb•d by th• Compan1•• Act 2006 In our rf4nion. bos&J on the VAvk undertoken Mi (xwrne ofthe the information giv￿ in the trust8es' reprf whkh th• •tr•togic rgpryt Jnd th? direGtorJ' report prepar&J for th• purposes of company184V, forth&fmancial yearforwhkh thé flnancial •latements arg pr•pared Is eonsl8tent th the financial stat•menls: and the strategK rewt and Ihe direckn8' rewt In￿d•￿ wkthln th• trustw. r8Wt have be￿ prepared In *cordan¢• with applicab10 kgal rwuirpJnents. M•tt•rn on whlch ar• r•qulr•d to r•port by exceptlon In the IKJhl of tho knoNf•dga ard understsnding cl the charrtable company and its environment obtsined in thg Course of the aud¢ we rtot id8ntifi•d rnaterial m￿state￿￿ts in Ihe stratw¢ r•wt ar the threctm. report includod within I trusle8s' rep￿. We have nothing to rewt in fe¥*t of th• fc4hxing makn in relatKin to the c￿PanIeS ki 20¢% requireg us to roport to you rf. in OUT opinion.. athqu* a¢¢ounlirrJ rwds have not bew kep( or retyrns &Jequata for our audit have not bgen fecaived from bw¢he5 not vk8tted by us" the financial statements are not in agreement 7Mth the accounting r￿OrdS and rnlum$', ¢x ¢ertaHI disclosures of tntslees. r•nunerab"on specthed by aro not made,. or we have I￿t received all the informatK)n and explanation5 we require for our audiL R•spDnslbllltlv oltru•t••s A3 explain&J rmre fully in the trusttts. resFw'bfltties ststemenL the INstees Iwho are also the directors of the charitable company for the purpose of Gompany law) are responsib￿ fc* the preparalv)n of the financial $tat￿eftts and for being Satisf￿ that they give a tnje and fair vivw. and ts 5u¢h tntemal control as the trustees delemiine is necessary to enabl8 the preparation of financial ststements that are free from material M￿StateMent whether du6 to fraud or error. In preparing thefjnanci81 statwnents. the trustees are fe¥Lin4ib',....,.3>io$sing the charitab￿ company's abilty to Continue as a going corKem, disclowng. as 8ppIKatJ￿. mattets relail).A &:..15119 kn0n￿m and using the going concem basis of accounting unless the trustees either intend b) liiu*Jate the chantabb cumpary or to cease operati(Th, or havo no roali$lic aAemthe but lo do so. Audltof8 r•sponslbllhlo• for th• audlt of th• financlal stat•m•nts Irregulanties. including fraud. are instsnees of nc￿-cOm￿lance with laws and wulations. We design procedures in line with our responsibilthes, ouuined at4)ve. lo detect material misstatements in res* of irreguEaritses, including fraud. The extent to whKh our pro*￿UreS we capabte of irreguianti88, including fraud is detailed beknw. obtaIn￿ an understanding of the chall181￿8 I￿nY and th¢ se¢ttY in it yratas to identfy18ws and regulations that could reasonabty be eX￿ted to have a dired offed on thg f￿anCIal statements. We obtained our undor8tsnding in thi5 regard through di8cussw)ns mww3en*rt industy research. application of cimulative audit knowledge and eXFerier￿8 of the sector. (letombned the principal laws and regulab'txs relevant to tho charitablo company in this regard lo be those 8￿Ing from the Charthes kt 2011. Companies Act 2006 and Finar￿181 RerAwbng Stsndard 102. We designod our audit procedures to ensure tho audit team consider&1 whelhar there were any indications of non- crfnrAi8n¢e by the Charitable company with th¢xo laws and regulation8. These procedures includod, but wer8 not ited to. enquww of management and revk*v crf minutes of meeb.ngs ofthose charged wrth govemanca. le abo bjenlffied the roks cl material misstatemeni of the financial Statements du8 to fraud. ¢onsidornd, in additi.on to the r￿n￿ebuttab1o presumption of a risk of fraud 8r*ing from management overrida of conlrob. that there was the potential for management bias in revenue recognitN)n. addressed this by testing a samplo of agr•oments bgtsveen thecharitablg ￿nPanY and ils funders to évaluate wthetherthe income and tho componding P4p20rf40 cash recelpt or r•c•fv8bb had bwn recogniwj •pw•, and to Ihe clts¥llkaUon ol in¢n. omimion or A further descriptw of our rnsponsibilit¢es l¢r tha audit of the finonci81 statgments 15 Ioc8t•d on Financial R•porting C¢unofs t*•bsite at wvKw.froor .uklauditotsre nsi . This deSCri￿n fornu part of our audttof$ reporL U8• of our rvport This rwrt is made solety to the Charitsb￿ cLYnpany's M￿Lty$. as a boty. in accordan￿ with Chapter 3 of Part 18 of the Companies ki 21K6. Our audft work has boen Undertak￿ so that w• might state to the charitable company's M￿berS those mattws we are wuired to state to them In an auditor's rewrt and for no other purpose. To the fultht extent pemiitted by law, we th not ac£opt ty assume responsibilty to anyone other than the charitabLg company and the charitable pany's member5 as a toty. for fyjr auditworK for this repo¢ or for the opinions we have formed. 15 b*sttery Circus Canary London E14 4HD 2024 Al*8tslr Duke (Senior Stalutory Audltor) For and on b•half of PKF Litt1oJohn LLP Statutory Audltor PAP￿0140 ## |National Energy Action (Operating as NEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED31MARCH2024|National Energy Action (Operating as NEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED31MARCH2024|National Energy Action (Operating as NEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED31MARCH2024|National Energy Action (Operating as NEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED31MARCH2024|National Energy Action (Operating as NEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED31MARCH2024|National Energy Action (Operating as NEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED31MARCH2024|National Energy Action (Operating as NEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED31MARCH2024|National Energy Action (Operating as NEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHEYEARENDED31MARCH2024|| |---|---|---|---|---|---|---|---|---| |STATEMENTOFFINANCIALACTIVITIESINCLUDINGTHEINCOMEANDEXPENDITURE
ACCOUNTFORTHEYEARENDED31MARCH2024||||||||| ||**Note**|**Unrallrlcted**
**Funds**|**Rellrlcted**
**Funds**|Total
Funds|Unreltrlcted
Funds||**Restricted**
**Funds**|**Total**
Funds| |||**2023124**|**2023124**|2023124|2022/23||**2022/23**|**2022/23**| |**Income**from:||£|£|£||£|£|£| |**Generatedfunds:**||||||||| |Donations
lnwstmentincome
**Charttableactivities:**|4|**554,940**
**66,704**|600,000
48,822|1,154,940
115,526|1,764,612
5,222||600,000
35,914|2,364,612
41,136| |IncreaseStrategicActionAgainstFuel||||||||| |**PCNerty**||11,782|2,513,436|2,525,218||13,581|855,724|869,305| |De\elopandProgressSolutionsto lmpro~
AccesstoEnergyEfficiencyProducts,||||||||| |Ad\1ceandFuelPowrtyRelatedSer..cesin
UKHouseholds|||7I**934,557**|**7,934,557**|||7,430,287|7,430,287| |EnhanceEnergyEfficiencyandFuelPowrty
EducationandSkills|||1,508,829|1,508,829|||1,397,890|1,397,890| |MiscellaneousIncome
**TotalIncome**
**Expenditureon:**||54,087
**687,513**|**12,605,644**|**54,087**
**13,293,157**|60,452
**1,843,867**||**10,319,815**|60,452
**12,163,682**| |**Raising**funds:||||||||| |Costsofgeneratingdonations
**Charitableactivities:**|7|**17,709**||**17,709**||14,139||14,139| |IncreaseStrategicAction AgainstFuel
Powrty|6,8,9|**760,669**|**2,102,274**|**2,862,943**||**299,606**|643,696|943,302| |Oe\elopandProgressSolutionstompn)\e||||||||| |Access toEnergyEfficiencyProducts,
Ad\1ceandFuelPO\ertyRelatedSeNces in
UKHouseholds|
6,8,9|293,1l\i|3,611,570|**8,904,759**|||7,511,391|7,511,391| |EnhanceEnergyEfficiencyandFuelPEducationandSkills|
6• 8 •9|
35,302|1,094,496|1,129,798|||1,162,617|1,162,617| |**TotalExpenditure**||**1,106,869**|**11,808,340**|**12,915,209**||**313,745**|**9,317,704**|**9,631,449**| |**Recognised**(loss)lgainonlmestmentassets|19|**312**||**312**||(7)||(7)| |**Net lncome/(Expendlture)BeforeTransfers**
**andTaxation**||**(419,044)**|797,304|378,260||1,530,115|1,002,111|**2.532.226**| |Transtersbetweenflnds
Taxation|19,20|**1,255,428**|**(1,255,428)**|||556,277|(556,277)|| |**Net MovementInFunds**||**836,384**|**(458,124)**|**378,260**||**2,086,392**|445,834|**2,532,226**| |Fundbalancesbroughtforwardat1 April||**4,611,230**|**460,241**|**5,071,471**||2,524,838|14,407|2,539,245| |**Fundbalances carried forward at**
31**llarch**|19,20
21, 22|**5,447,614**
**2, 117**
**5,449,731**
**4,611,230**
**460,241**
**5,071,471**

--------------------------~||||||| N•lloMI En•ryy Actlon IOp•raing •• NEAI NOTES TOTHE FIIIANCIAL STATwpifs FOR THE YEAR ENDED 31 W4RCH 2024COIrnNUED BALANCE SHEEf A8 AT 31 MARCH 2024 2024 2023 Flx•d Aw•ts TaTrJibl• •ssels T¢*al FSx•d A••ts 14 rA￿toryd 15 1.619.680 1,9gS,782 2.149 9,299.131 7.$55.C¢4 10,920.172 9,861995 5,514,73 4.628,gJ61 5,404435 S,Q26.1)e8 5,449,731 6,071.471 C4sh 8t aThJ In h Total &Jrr•rtAwt• Cr&*¢yB.' Amourt$ di* y Not CoJrr•ntA••ts N•t A••ts. Totsl A••tsl•*Gurrnnt L￿bIllI1•$ Th• Fundsol Ihw Cmrfty 17 19 4447,614 1117 4449.731 4,811.7JO 4eo.241 6.071.471 RUt￿¢t￿j incLYrn Totsl Ch•rtty Fund• The financkql statements on pages 22 to 40 wern approved by tha Board of Tnmteej on 25 Juty 2024 and S￿J￿￿d on its behaff by: Claire DuthNI Chwr Compony Number. 01853927 Paga 23 014Q NOTES TO THE FINA14CIAL STATEWENTS FOR ThE YEAR ÉNDEO 31 IWiCM 2034 CIJIITINUED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 IAARCH 2024 Total Funds Totsl Fund• Net u•d In op•r•lln9 aeffvltlas Cath flowsfrom In￿￿n9 •¢trvlllo8 1.547,449 115,$28 18.6161 96.910 41.1&8 19.C#)11 31136 Pu¢h89e of fixed assets NFt cath u*d In Inwsllng ac11￿110¥ Chang• In and cash equlvalents In the rnpordng p•rfod Cash ard equi*lents at the kginnir¥J Oft1￿ WiThJ Fer￿￿ Cash and cath •quI￿1*nI• •t th• •nd d th• Y•portng perfod 1,W,359 2.203,633 7.657.233 5.253.600 9,301.$92 7,U7,233 RECONCIUATION OF CASH AND CASH EQUIVALENTS TO BALANCE SHEEr 202W23 Totsi Fund$ Totsl Funds hmestments Cash at bank aThY har#1 2.461 9,299.131 9.301.592 2.149 7,655,084 7,167.233 RECONCIUAnON OF NEf INCOME TO NET CASH FLOW FROIA OPERATING Ac￿rIEs 202W24 202V23 Tolal Totsl Fundg Fund* NBt wrpluglldeficlt) for r•porUng P¢flod {*• per the Statement of Flnanclil Adivlti•$l Adluth•nts for. 378.%0 2,532,226 19.703 1115.5261 Cii•Jends arrt1 inte￿t frcm imesbManls 141,1361 IlncrtaseYd￿rea$e In d¢tr In¢rpase In credit¢J3 Nèt ¢•th u#frd In op•r•tlno aetlvltt•¥ 377.182 887, 1,647.449 2￿,910 1504,1(K)) 2.271.498 Pag8 24 of 40 Nalon•l En•ryy Actlon (oporn￿￿9 •8 NEAI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2024 COM￿NUED charftsble 8tatu# is registered as a Charity under the Charities Act 2011 and Is a company Ilmiled by guarantee, incorporated in England. The add￿$$ of ils registered office 18 61h Floor. West One, Forth Banks. Newcastle upon Tyne. NE13PA. The charity conslilules a public benefit entity as defin8d by FRS 102. Constltutlon and Ilablllty of momborn NEA is a company limited by guarantee and has no shar8 ¢apitsl. Claus8 3 of the Art￿leS of Ass¢xialion provides that every member. as defined by clause 31bl of the Articles of Association, is liable to contribute a sum not exceeding £1 in Ihe event of the Charity being wound up while a member. or within one year of ceasing to be a member. At the year-end there were 374 full memters and 231 associate members12023124: 349 and 182 respeclivetyl. Statement of Compliance and A¢¢•untlng Poll¢108 ststement of Compllan¢o These financial statements have been prepared on a going con¢em basis. under the historical cost convention as modffied by the inclusion of investments at market value, in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities ISORP 2019} preparing their financial statements in a¢eoréanc8 with the Financial Reporting Standard applicable in the UK and Republic of Iretand IFRS 102) effectNe 1 January 2019 and the Charities Acl 2011 and the Companies AGt 20C6. In accordance with the SORP 2019, ￿$triCted and unreslricled income and expenditure are separalety identified in Ihe financial slalements. The nel change in the types of funds is added to the batances brought forward from the previous year. so that the balance of restricted and unrestricted funds at the end of the year is identified on tho balance sheet. The company's functional and presentslion currency is Ib.e POUFid sterling. The trustees assess whether the use of going con￿e[lI is aiinrciorieiie i.e., whether there are any material uncertainties related to events or conditions that ma r.aiil doubl on the abilty of the charity to continue as a going concern. The Iruslees make thi¢ '.Illt!Ili In respect of a period of al least one year from the dale of aulhorisation for issue of the fin3nc:.*4 ￿ j(11&S1'.Ip.n-,s -: he Board and senior management have considered both the Jevel of reserves and the currE.fll Thr':iillt: r,1 UT living and energy crises on the chanty. Following a review of cash forecasts, plaitftpd tl '.[.', Il#i)5 and financial implications,. a satisfactory percentage of income has been secured for the next 12 mdnih• and there is sufficient anticipated income to cover the co$ls of the charity well into 2024125. Taking into account all potential limitations on the del¢very of oulccffjes or the finalising of income streams, over the next 12 months, the Iruslees are satisfied that the charty remains in a satisfactory financial position as a going concern and have concluded that il has adequate sources to continue in operational existence for the foreseeable future and thus, they continue to adopt the going wncern basis of ac¢ounling in preparing the financial ststements. Crltlcal Accountlng Estlmates & Judgements Income recognition is a cri(ical judgement in estsblishing NEA'S annual income and expenditure and yearend financial position. Acttjunting Policies 3.1.d and 3.1.e and the procedures that support them are consislenlly applied in determining the extent to which ineome is fecognised and deferred in NEA'S financi81 slalements. At tre time of liquidation WZ owed NEA £1.739.001. The recoverable amount which was included within NEA'S debtors as al 31 March 2023 was assessed as £365,115. A5 al 31 March 2024 the balance included within NEA'S debtors is £0 as dufing 2023r24 the charity received the final dividend sum of £394.936 from the liquidators of WZ and this recoverable amount is £29,821 hi9her than the amount that Was expected to be recoverable as at 31 March 2023. Provision has been included in NEA'S accounts in previous financtal years for the WZ net unrecoverable balance of £1,112,961 bul as a consequence of thè higher fecovery rate. the total bad debt provision for the WZ unrecoverable debt has reduced by £29,821 from £1,112,961 0$ al 31 March 2023 10 È1.083.140 as al 31 March 2024. This reduction has been wocessed through the charity'5 Statement of Financial Activities in the curronl financi81 year. Page 25 of40 Nlllpnal En•ryy Aetlort iop•f*iino a• NEAI NOTES TO THE FIIIANCIAL STATEMENTS FOR TrtE YEAR ENDED 31 MARCH 2024 CONTINUED St•t•m•nt of Compll•n¢o and Accountlng Pollcle• Icontlnu•dl During 2020r21, work was earried out on behall of Green Nets¥ork Energy IGNEI in felalion lo the Warm Homes Discount schème bul in January 2021 GNE entered adminislr81ion. Al the lime of the adminislralion GNE owed NEA £413.867. ProvisK)n h88 be¢n included in NEA'S accounts in previous financial years for the GNE nel unrecoverabl8 balance of £372,480. The recoverable amount which was ineluded within NU'S debtors as at 31 March 2023 was assessed as £41,387. During 2023124, based on an update from th8 liquidators of GNE, no further bad debt provision has been prtxessed through the charty's 2023r24 Slaternènl of Fin8nci81 Aclwilies for the unrecoverable element ol the GNE debtor a8 the anlicipaled recovery rale has not changed. Thè lolal bod debt provision which has been processed through the charity'8 Statement of Financial Activities for the GNE nel uniecoverablè balance 18 £372.480. The remaining recoverable balance of £41.387 is included within NEA'S trade d8blDr figure al 31 Mar¢h 2024 which 1$ disclosed in note 15 and il is 8xpected th81 the outstanding sum will be received in full. The Trustees do not Cons￿er there are any criiKal judgements or sources of estimation uncertainty requiring dkselosure beyond the accounting policies listed below. Accovntlng Pollcles The following principal accounting wlicies have been consi$lenlty appl¢ed'. In¢om• Income re¢eivable by NEA is included in the financial statements at its gross value. AJI costs associated with generating, eaming or collecting income are shown separately as expenditure. Where income included VAT, the VAT elementwa$ due lo HMRC. not NEA. That VAT is, therefoie, excluded from NEA'S financial statements. Income from donatians is Tecognised in the year in whKh it 1$ received. donations have been promised but not recewed, they afe not recognised. Investment InGom•- dividend$ arising on listed investrnents and interest arising on bank deFosts, a￿ recognised on a receivable basis. Miscellaneous Income- relates lo reiinbui')C;'.:',; arrangements. recharge of the costs ()1 il eLj￿01..¢ilTh of employees travel and subsistence costs. ',[ lor(i-lerm Ill-health costs via insurance lili.'¢Jyee aiid third-party reimbursement Income from ¢h4rltable a¢tivltl•s is principally derived from carrying out work that help$ regulated private sector organis81ions meet stalulory obligalions lo alleviate fvel poverty which ¢onlribules lo NE4's aims and objectives. Income is recognised to the extent that.. Condrtions reL4ling to enU"Ilemenl lo Ihe income have been mel., The monetary value or amount of the income can be measured reliabty and the costs incurrtd for the Iransaelion and the co$ls lo complete the transaction can be mea$ured reliably., and 11 has been recoNed or ils receipt is probable. Assessments are made regularfy during the year lo identify.. In￿me that should rightly be included in the financial statements; and Any receipts. entitlement to which is dependent on successful delivery of agreed outputs or other conditions that have not yel been mel. This continuous process. supplemented by additional assessment after the year end, informs the extent to which income is re￿nised in the finan¢ial slalemenls. Charitsble activities income also includes.. Grants from Government departments, devolved adminislr8lson$ and other public bodies,. Sponsorships., Page 28 of40 NOTES TO TrIE FINAN￿L $TATEA*IIT8 FOR THE YEAR ENDED 11 IAARCH 2024 CONTIIIUEO Ststom•nt of Campllance •nd A¢eountlng Pollcl•• l¢ontlnu•dl SubScript￿n8 of m¢mbws and Business Supporter8 Group {BSGI,' and Sales of tr#ining coursey, examin*"ons. materials and publication3. event fees and consultancy. D•ferrnd Incomo - Ineome from Charitable h£tivit*$, both rostricted and unrestricted, lo which entittement does not exist until earned in future a¢¢ounting years i¥ treated as defer￿d ome (See note$ 17 and 181. Exp•ndltur0 Expenditure is included in the statement of financial a¢lNitM on an accruab basis, inclusNe of any VAT that canmt b8 recovered. expondlture on ralslng lunds Costs incurred in raising funds are separately accounted for. Th8s6 irKlud6 the costs of raisin9 donations and managing investrnents. NEA does not undertake any trading for the specthc purFrt)se of rnK8ing funds. The Charty's principle trading aclivity 1$ training. wh￿h is charilable actiwty. undèr NEA'8 charitable obj'eelives. exp•ndlturo on ¢h•rltabts •¢tlvlll Expenditure on charitsble actswties rekte5 to work that contributes to NEA'S charitsble olectives. It includes the costs of deltvering the servi￿ and products that are required by funder¥. listed above under the p)Iw relaty'n9 to income from charitable activities. Also included are costs of any core xtsvities that conkn'bute to charitsble th'ectsves bLrt are not funded by $peCff￿ income sources. CharitatrAe e>¥enditure includes all expgnditUTe relating to NEA'S charitable obiectNes, including the direct cosl of supporbng charitable activities and projects, depreciation arKI profitsAosse5 on disposal of fixed assets used wI￿lty or mainty for charitable aetivrties and. where applicable, Ihe writing off of assets a5 part of projecl expenditure. In attributing costs lo expenditure headings. expendiiure irM)fving MO￿ than one heading Iws been apporboned based on staff lime. Governance costs include work to comply with slatutory and ¢on5titulional requirements, audiL kgal athice forTruslees and an element ol apportw)ned support costs. These costs lomi part of expenditu￿ on Charitab￿ a￿1V￿e$. Support costs Supwjrt costs include all costs that cannol t* £1"..3iv.*d direct￿ to expenditu￿ on charitsble adNities or expenditure on r815ing fLin￿) apportioned to activi￿$ on the basis of the staff tr'me thre¢ty recorded against thosu actwilies. Operatlng leas8S Rentals payable under operating18ases are arcounted for on a straight4ine basis over the term of the lease. p￿Sk¥n$ NEA ¢¥>erates a defined contribution scheme for Its salaried employees. Pension costs are charged as expendrture in the year to wh￿h they rolate. Drfferences between contributions Payab￿ in the year and e0nlritrAJI￿nS actualty paid are shuwn as either accnjals or rKepayments in the baE8no she6t Grants payable Grants paid to benef￿laIm under any hardship fuThJ arrdngem8nl are referred to by varh)us care and voluntary organisation5 whieh work directty with vulnerable familiès and individuo15. 0th8r grants are paKI Suty'ect lo the criteria of the fundfjr. Grants are funded via swnsors of individual programmes (see note 91. Trdnsf•rs b•lw•an lunds Transfafs behween funds primarity reflect transfers of resources from unfestn'¢lgd funds to meet the additional costs of restricted fund activits8$ not covered by reStr￿ted income. Surpluses on restrthd fund activities that funders allow NEA to retain and IransfeTS to or from desvjnated funds for specifK, othe￿159 unreStr￿1ed. purFoses. Paqe 27 of40 N*tton•l En•rqy (Op•r•￿￿￿ •• NEAI NOTES TOTHE WNANCIAL 8TATEMENTS FOR TrIE YEAR ENDED 31 WIRCH 2024 cotrillNUED Statem•nt of Compli*nc• and Accountlng Pollcl•• (contlnu•dl Id•ntlfySng ¢08ts wlth actlvlt108 A large proportion of NEA'S expenditure r81gtes lo employee costs. Time recording and project a¢¢ounling sy8lems 8re used to identify th08e costs with each a¢livity. Support costs. which are not direct￿ Identrfoble with Specific actNilieJ, are apportioned In proportion lo lime direclty record¢d against each activity. They Include finance. human resourc8 man8gewen( ICT. admini81ralion. premi$e8 8nd gerser81 offtce 8uppli8s and equipment. Other w81s reLqting diroctty to Indfvldual project8 Ofé identified with each activity. using the project accounting system. Flx•d a88•ts Tangible fixed assets are slated at historic cost le58 accumulatsd depreciation. Cost includes tho original purchase price of the as881 and the costs attrlbutable to brfnglng the asset to rts working condition for it8 int•nd•d use. Depreciation is provided to write off. by annual instslments, the co81 of tangible fixed assets (Ner their estsmated ecortom￿ lives as follv•Vg: Leasehold properties Fumiturè, filtings and equipment - Straight-line over the prfmary period of the lease Straight-line 9en8ralty over S years If purchased beforg 1 October 8 full yéarfs depreciation is charged in the year of purchase. If purchased after 30 September no depreciation 1$ charged in the year of purchase. Tangible f￿d assets costing less than £1.000 are not capitslised. Finance costs are not capitalised. Impaiment r8vws of tangible fixed assets are carried out on a regular basis. Impaimienl10g$es, when they arise. are treated as additional depreciation In the year that they are ideniffj￿d. Intanglble fixed as$ets are measured at coyt less accumulated depreciation and any accumulated impaiment losses. Website development costs 8re recognisgd as an irtlangible asset when all of the folkhying criter¢a afe demonstraled'.- The technul fea¥foilty of designing the web.rt.i.' so that it will be avaiLgble for use- The Inten￿rt to Complets the website and I.. Th8 abilty to use the website., How the websrte will generate probable lutule eLOlI(%nic benefits. The availability of adequate technical, financial and other r8soLtrce8 to ¢omplete the development and to use the web511é' and The ability to measure reliably th8 exronditurg attributable to the websila design durfng development. Depreciation is Gharged so 88 to all¢xats th8 cost of inlangibl¢8 less their residual values over their estimated useful INes, using the slraight-line method. The intangible assets af8 amortised over the following useful oconomie livas.. - bsite development costs 3 yearn. If there is an indicats'on that there has been a signrficanl change in depreciatlon rate or residual value of an ossel, the depreciation of that asset is revised prospeGlively lo reflect the new expectations. Intangible assets costing more than £1,000 are capilalised rf their 8xpecled econom￿ lrfe is greater than one ye4r. Depreciation is provided lo write off, by equal annual instalmenls. the eo$l over Ih&ir estimated econom4c livey, normally not more than 3 yea15. If purchased before 1 Oclob8r a full y88rf5 deprfjcialion is charged in the year of purchase. If purchased after 30 September no depreciation is charged in the year of Pufchase. P•ge 21 of40 N•vtywl En•ryy Acllon IOp•r•Ong •5 NEAI NOTES TO THÉ HNANCIALSTATEI*IITS FOR THE YEAR ENDED 31114RCH 2024 CONnNUED Statsment of Compllance and Accountlng Pollcles (contlnu•d) 3A Fln•Thclal In*trnments The ¢harity onty has financial assets and financial Ilabilit¢es of a klnd that qualify as bas￿ financial instruments. 88sic financiol instruments ara inilialty reeognisgd at transaction value and 8ubs4uenty measured at their settlement Yalue. Trade and other debtors ar8 recognised at the settth¢nt amunt duo after any trade di%ount offered. Prepaymenls are valued at the amount prepaid nel of any trade di8¢ounts rlué. Cash at bank and cash in hand indudes cash and short lemi highty I￿Uld investsments wrth a short maturity of three months or less from the dale of acquisition or oFening of the deFQ8it or 8imilar 8ccounL Creditors and prowsK)ns a￿ recognised where the ¢harity has a Pfegenl obligal*)n resutting from a pasi event that will probabty result in the transfer of funds lo a third party and the amount du8 to setua the obligation C8n ￿ mea$ured or estimated rel¢8bty. Creditors and prow$ions are normalty reco9nis8d at th8ir settlement amount after alltming lor any trade discounts due. D•btor8 Income due from debtors at 31 ma￿tt is pwdentty assessed in accordance with the rol*ing to income from Charitable activilies. descrited above. Provish)n is made in the financial stslements for any specrfK debts whtch are expected to te irrecoverabl8. ProvisK)n is also made for debts whose recovery is assessed as being doubtful. Doubtful debts are assessed wilh regard lo thetr age, the debtor. the reason for the debt, the 8tze of the debi and vkqbilty. including any likely cosc of taking further recovery &lion. The great majofity of NEA'S in¢(Mne is publtc sector and large private organis8tion$ that are regarded as teing at a lower of risk of failing financialty. A pnJdenl approach is 81s0 tsken to the Indusion of irKome in the financial slalements. Investm•nts Inve8tments are rn￿e onty in basic finai(_'=, ,, mid-market value at the balance sb.oel ¢*1: actNilies. Reserves and short-temi SiifpiLr( *1. , ,. .,ary￿. ':Ivesknents in li51ed shares are revolued at til or los$ taken lo the Statement of financial Jl.3ced in cash deposits with major UK banks. Llabllttlo8 Liabilities include trade and other credilois, taxes and social S￿￿rity costs. includin9 obligations to make fvtU￿ payments. They are recognised in the financial slalements as resources expended as swn as ￿al anwor C￿Structive oblvJations aw. Holiday Entitlement Provision is made for the of untsken how entitlement as at 31 March each year. A provis￿n of £64,464 is made in 2023ll4 {2023r24.. £50.5111 finanaal stslements, in addition to 8 prov18ion of £S.73912023f24: £14.¢JXII for Pe￿nanefit h•atth inurance IPHII ¢osts relating lo ac¢rLbad holiday enti￿ement 3.10 Short term d•wlts and ¢•8h Reserves. which ar8 malntsined to hel) ens¥Jr8 that NEA tsn continue to delwer ils charilable 0￿.ectiveS. 8nd receipts that are held in Ihe Short-term before being used to meet expenditLtre, ar8 deposited with COIF Charities DeF#)5it knunt. Th8 principal aims are to ensure that such fund8 ar8 secur6 and are available at the time they are needed. Short-18mi deposit5 also achieve a ral8 of rebjm that conlribLStes to NEA'S charitsble activities. A managed levgl of cash is held available for imm&Jiate use and very short-term ¢85h-flow. Short-tsrm deposits that malure in less than three months are shown as ca3h4iuivaléniS in Ihè cash Ik)w 31atemfrnt P•¥ 2• of40 Erffjy Adan IOp•rntyng ￿ 14EAI NOTE9 TOThE PI4AMCIALSTATEi*iif8 FOR THE YEAR ENDED 31 IAARCM 2024 CONnNUED stst•ment of Compll•n¢• and A¢countlng Palkl•• {contlnu•dl 3.11 Fund Ac¢oufiUng Funds hold by the Charity are pAher. Re5trth- which can onty used for specfv purFrtise8 within the objècts of Ihg Charity. Rèstricttong artse when spacified by the funder OrW￿n fund5 are rai8thJ for particular 8Pgcir purFoses: or Unrestricted- whKh can be usad for ary of the chaTltable obAeth 81 the di8cr•tion of the Tru81ee8. thin the unrestrieled funds, an￿Uftts may te sel aside ty tho TNstee8 to be used for porticular purrp)ses. The oims and use of desNJnaled funds affj sel out in n¢)te5 to the financial slalements. Tra￿ferS bew funds are made: 8•tsveen unrestr￿ted and restricted fvnds to meet expenditure on r8stri¢lad activities that is not fully funded. and surpluses made +Jn restrKted funds pro1￿ts. whth funders alknv NEA to retain: and To and from desBJnated funds, usw ofwhich is at Trustees. d￿￿1811)n. de$ignated funds remain unrestn"cted. 3.12 Post Balance Sh¢•t w•nt8 Amy events that have ttcurred 8fter the end of the ffinancial year that have. or are likety lo have. material effect on the value of assets or liabilities must be noted and expkined in the financial statements. Although the financial statements are prepared on a histor￿ basis for the year up to 31 March. tt i8 important that the users of the ftnanual statéments affj also made aware of any subsequent events that may m*erialty affect the Charity. Inv•stment Income 202Y24 2022123 B￿k trrterest Tolal 115,526 115,528 41.136 41,136 Grants Ro¢•iv•d NEA receNes grants from a range offunder5. The granls are usuany for SFecffie prosects with requirements to deliver SFecrfEd outpuis. making thern perfomwrKe related. Funder5 a150 generalty require grants lo be expend￿ solety on projects geographK or charitable aim llmrtat￿ns. making them restsicled funds under tharity accounting rules. As projects have discréte start and end dates. there i¥ not necessarity continuity of funding frC￿ individual sources across financial years. Income Charilable Actiths includes grdnts fr¢￿ the fi￿1￿￿1n9 sources".- 2023124 Totsl 2022123 Totsl Re*rfcted R•*rlcted Com￿rIeS in erwgy sectcy. ￿her UK central. ard Ic¢d 9￿￿mment a¥J EU Trusts ￿ fi￿1￿18t1￿$ FkKtsirvJ As$¢riatith Other rxgonisatl¢Jns CompaThe8 in the ycwty sect Comp8rlles in the vAt¥ $￿t¢ 6.727,585 5,019.228 222.7C6 176,896 161.855 715,106 17,898 47,518 T22,983 241,318 12.749 18,936 7.867.T16 &219.Tr)2 Other reslnct&J income Tt)td restrfet•J ir¢ung 4,737.868 4.100,813 11605,644 10.319.816 P•Je x* of4Q ## ## ## |**Analysisofcharitable expenditure**|||||| |---|---|---|---|---|---| |**2023/24**
**Alm**
1
Increase Strategic Action Against
Fuel Poverty
Developand Progress Solutionsto|**Direct Staff**
**Costs**
£
1,291,596|**Grant**
**Funded**
£
697,360|**DI rect Costs**
£
351,118|**Support**
**Costs**
£
**522,868**|**Total**
**2023/24**
£
**2,862,942**| |2ImproveAccesstoEnergy Efficiency
Products,Ad\Aceand Fuel Poverty|||||| |RelatedSel".Acesin UK Households
3 Enhance Energy Efficiency and Fuel
Poverty Education and Skills|**2,744,641**
**634,188**
**4,670,425**|3,909,440
**4,606,800**|1,098,224
234,789
**1,684,131**|**1,152,454**
260,822
**1,936,144**|**8,904,759**
1,129,799
**12,897,600**| |**2022/23**|**Direct Staff**
**Costs**|**Grant**
**Funded**|**Direct Costs**|**Support**
**Costs**|**Total**
**2022/23**| |**Alm**
1 Increase Strategic Action Against
Fuel Poverty|£
531,325|£
9,049|£
135,329|£
267,600|£
943,303| |Develop and Progress Solutionsto|||||| |2 ImproveAccesstoEnergy Efficiency
Products, Ad'Ace and Fuel Poverty|
2,206,130|3,332,000|
1,058,490|914,771|7,511,391| |RelatedSeNcesinUKHouseholds|||||| |3 Enhance Energy Efficiency and Fuel
Poverty Education and Skills|578,815|11,989|
243,761|328,051|1,162,616| ||**3,316,270**|**-~A:i,3~3,038**|
**1,437,580**|**1,510,422**|**9,617,310**| |Other directcostsinclude irrecoverableVATinput taxarno1-1r.Ungto £289,605 (2022/23: £320,251). 2023/24
Aim2 directcostsinclude a £29,821 releaseofthe bad debt pro~sion for the Aim 2WZdebt. 2022/23 Aim 2|||||| |and 3 directcostsinclude in total a £27,751pro\Asion,r:12,12$ and £15,622 respectively, for the GNE
rrecoverable debt which has been offset by a £52,220 rele~seofthe bad debt pro\1sion for the Aim 2WZdebt.|||||| |Both pro'Asions are detailed in note 15.|||||| |**ostofRaisingFunds**|||||| |||**Staff**
**Costs**|**Support**
**Costs**|**Direct**
**Costs**|**Total**| |||£|£|£|£| |2023/24||66,789|20,309|17,709|**1041807**| |2022/23||6,118|2,253|14,139|**22,510**| ## ## ## |NaUonal Energy Action (OperaUngIINEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHE**YEAR**ENDED31**MARCH2024**CONTINUED|NaUonal Energy Action (OperaUngIINEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHE**YEAR**ENDED31**MARCH2024**CONTINUED|NaUonal Energy Action (OperaUngIINEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHE**YEAR**ENDED31**MARCH2024**CONTINUED|NaUonal Energy Action (OperaUngIINEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHE**YEAR**ENDED31**MARCH2024**CONTINUED|NaUonal Energy Action (OperaUngIINEA)
NOTESTOTHEFINANCIALSTATEMENTSFORTHE**YEAR**ENDED31**MARCH2024**CONTINUED|| |---|---|---|---|---|---| |Note8 - AllocationofSupport
Costs(continued)||Charltable Activities|||| |**2023/24**|**Alm1 **|**Alm2 **
**Alm3 **|Charitable
**Activities**|Costof
**Raising**|2023/24
Total| |Supportstaff
Stafftraining
Travel&Subsistence
Accommodationandinsurances
ITsupport
Communicationcosts
Othergeneralcosts
Legalandprofessionalcosts
Capitalgrants/depreciation|£
228,305
7,734
27,361

92,331
43,322
21,871
35,364
41,683|£
503,208
17,046
60,306
203,508
95,485
48,206
77,946
91,874
£
113,884
**3,858**
13,648
46,058
21,610
10,910
17,641
20,793|Total
£
845,397
28,638

101,315
341,897
160,417

80,987
130,951
154,350|**Funds**
£
**8,866**
300
1,063
3,586
1,683
850
1,374
1,619|£
854,263
28,938
102,378
**345,483**
162,100
81,837
132,325
155,969| |adjustment
GeneralCapitalExpenditure|5,266
19,631
**522,868**|11,606
43,269
**1,152,454**
2,627
9,793
**260,822**|19,499

72,693

**1,936,144**|205
763
**20,309**|19,704
73,456
**1,956,453**| |**2022/23**|**Alm1 **|**Alm2 **
**Alm3 **|**Charitable**
**Activities**
**Total**|**Costof**
**Raising**
**Funds**|**2022/23**
**Total**| |Supportstaff
Stafftraining
Travel& Subsistence
Accommodationandinsurances
ITsupport
Communicationcosts
Othergeneralcosts
Legalandprofessionalcosts
Capitalgrants/depreciation|£
123,875
5,122
10,396

51,409
19,916
12,628
16,320
17,603|£
423,457
17,509
35,537
175,737
68,082
43,169
55,788
60,175
£
151,858
6,279
12,744
63,022
24,415
15,481
20,006
21,580|£

699,190

28,910

58,6TT

290,168

112,413
71,278

92,114

99,358|£
1,043
43
88
433
168
106
137
148|£
**700,233**
**28,953**
**58,765**
**290,601**
**112,581**
**71,384**
**92,251**
**99,506**| |adjustment
GeneralCapitalExpenditure|4,174
6,157
**267,600**|14,2lU
21,047
**914,771**
5,118
7,548
**328,051**|
23,562

34,752

**1,510,422**|35
52
**2,253**|**23,597**
**34,804**
**1,512,675**| |**Grants Payable**||| |---|---|---| |Totalgrantspaidtoorgainsationsandtoindi1v1dualswere:-|**2023/24**
£|**2022/23**
£| |Grantspaidtoorganisations|4,606,801|3,345,538| |Grantspaidtoindi1v1duals||7,500| ||**4,606,801**|**3,353,038**| l¢•lbon•l Erfft A¢Uon IOp•r•Unq M MeAI NOIE8 TOTHE FINANCLIL STATE￿$ FOR ThE YEARENDEDJ1 IIAR¢H 1024 coimNUED Grants Payabl• (¢ontlnu•dl [￿rfng the par. gr•ntsTA•r• pld (xrt urwl•rfv f¢lla¥Ary •¢h•Tr••: Ft¥ne¥J DkswJrt 3,018 gw)ts ww8 to 8Vry?WW•tld£134.24. Th8 *IL%,147 418.707 9.120 GB Srnwt meter rd(wt Tl¥wJh tre yyme. gr•* 33crf9arisaiw xrc4S W. The SSE Crisis. ts PH4. Bdtssl CN*is & BthICty ￿l*lL1)s3 1C6,SJ3 •JegwF6. Th8 fxltsted the ¢AsS(￿1r￿lK￿ c13.CO) %•lrterv￿th 36 8.701 ¢c£*J"rvJ f&ilths crfa cknt in Fthvi).. The Plyde kk)AsirwJ Er￿gI ￿￿d91¥p e* fiA WWU fir*J a•RrtsJ gr•ts to 113 I￿￿9 *￿$61...?)S È) ltyNlthe rewoy reFlx•mwrtofps 17.898 146.918 Tre SSEN F￿h¢1 fvrKI •*¥tsJ 58 ffts to•)JN#Ath to FOPnOnl5. ￿"rtS Wwm FbJTre Prescripkn s¢f*ne th￿l¥j 202Y24 to sutpytto 11.231 use dm•Jica tr>ik¥nent Thi tr*r txxne. sch￿ne 12 fft tolffij hA FAYm￿ 12,C(Ll 4&513 whichwas irtswgj in 2013 ty a f*d sdvne. 1.718.554 Total ￿ld 202YX' 4,801801 En•ryy ACtIOn (Op•rnunq w NEA) NOTES TO nff RPWICIAL STATEMEiifs FOR THE YEAR ENDED J1 IAARCH 2024 CONllNUEO Grnnts Pay•blo {contlnu•d) Durfno th• y••r. grnnt• w•rn wld out und•r th• f•ll*)wlng progrnmm•• •r•d #h•m• 202W23 H￿n￿$ Ciscounl 365 granis 8w*ded to iThthithJ4s to paymwrt8 •4ord d£134.85. Thi* 4s admirmste￿l i•a NEA'8 WASH ad*e serdce. 129 gr4ntS 7Aere thvwded to to •J1￿ naw ontrd twtlThJ sy$tvms 57 grants *Y8rdÉd to lnthidu￿S to Fwments. Thè recipwrts ofthe grdnts wero eligi￿8 ts thor WHD paymert trArt tlw dkl recei* tt duriTrJ 2022123. Smart Erergy GB 39 ¢ywlsalion awarded ￿ndS to smart meter fr£us&J athlce, thents ar¥J actin41igs. Eng8glThJ custom¢rs in Mlner8fle clrtumstartgs (people 8yd c￿1 65.. peorde ￿ a kv4V irKIMng: arKJ peoF4e 8rn carws) to ￿$l￿e tw ¢￿￿d b￿￿ffit tho smart meter Reacti* Repair Prefeffed Manag&M￿t Sc4LrtiCns Limbted to m88W•8 in 789 tr#ynes ol wlnerdbte, income h(¥Jsehc4der5 in C8d￿tt n¢h%ryk w. Essenti￿ rarfed •Jt irKluded senicing of'ai ii8k' 9as aFpliancés aTrJ repwrfNJ ar￿ cMdomr*d gas apptiances. St￿￿ent Bursaries - Malc(Kn Wick8 m￿ty*01 FwK1s 2 grants of £3.C(Q and 1 of £4.￿0 p*d as tynaries 10 2 stL*Jents tom ky41￿0￿¢ familiès 10 uTrJwt*e th exwience Ihe ch* or ￿ of NEA* portr￿. £9,C(¥J. rdating to the Malcom Wicks Memthial F￿￿j p￿t-￿￿jUate Reseathr SCI￿[￿St￿p wag to 1 st¢*dent ia thJndiNJ f(om Afcrtoble W￿￿th Sohjlkns IAVIS) WKI Carthff Uni¥wsbty. C￿ThmUnity Action Proi&ts SSE Crisis and PHA- Beltsst Crisi$ bJKls 234 grants to iTrJiiiduJ$ in ￿￿¢M Ir81and lo keep their homes wami. Ma enèrgy thce and W￿l1¢al SUPF#)1 to slay and **ll. ar#1 where appropriate. Ihe womsion of healing measuresl thscretionary finan¢bal asSist￿GO to allthiate the IWiKp bmpacts M perncnal healih arKI vdlbeirwj •lsing fvt)m liking in Cold arKI damp The Gr•at Places Crisis awrnrded 291 gr¥nts to irvJpAthals to ￿nd fijel paymenls. The SSEIEDF A$sistwK8 Sjnd a4fdrtsJ 4 pnts to inth?Aduals frx me•8ures V•*Mch jnclud8d fri(h3e freezws aThJ a HWE t￿Mi0$￿t. Cowrtry Hardship FLWKI a*yard￿ 43 to paym￿1$. Melin Homes Pwment •Aeter Cri¥is fvml ￿￿￿31￿Cj 122 grants to iTrdiii(kAls 1¢ fiMNI fiJel oyments. NEA Winter SW FuTrJ VAS bJnded'.iOrn wbjic h&$ awarded 22 grarrts 10 lThJi4lduas to fiJKS paymarts *•Hded 85 gr￿15 to inthkiduals to measures s￿h as 9y effic*nt {è.g. slryw cc#)keTr. mKrvrnes) atwj weamth ¢tem5 such as b￿Ing arKI Ihernal sleephear. Thè En￿ S&4rvJ Trust Wann W*omè avard8d grdnrs to iTrJi¥(kAls to IWKI pwymthtts. FAJrchase of efficiatt c(*)king arwj %Vdmth ilems such a5 bethling and themi 49.222 ,512 Z35,641 4g2,493 32,¥24 8.242 156,670 979 The Hyde Housrng Enwgy Hardship 19 lo Inth1th￿S lo pgyments. Th¢ WWU fund grants to 137 Icw irwn8 h￿Se￿d5 to rEpair or rerl8cemwrt of g88 c￿rt￿￿1 heats"TrJ $ysterns. assocSated and ga5 ¢￿kers. SSEN Hardship f￿￿ avArdgJ 23) grants to 1Th*iid￿I$ to fffij paymwrt$. Tr* EST Wintw Hardship FL￿d aw4ft￿ 1.293 to low incomo I￿eh￿d$ wtw) usa P￿rnent metws to furwj fvd paymarts. Entrgy Syslems Catapuli's Wam Hm PrnsuiO1￿ Sctr￿m6 to Ind￿d￿$ in Ihe T•es Valley and 22 inth"i•duJs in the LoTrJon w. The (rfthe schemè VAS to hdp irNJiiidu￿s heat their homes to sak tempwatlm *inter of 2022123. The scheme was fi)r p8ode %4ith Wth c￿￿1£￿$ that m•J8 li￿r￿j in Ix)mes. to rethxe hamifijl healih complicati￿$ ￿ relieKe p￿ssuM crf th8 NHS. Gas Distiibution cdlabeAion ￿nd wrded to 134 to Paym￿15 Fb£1Y￿kIPrest0n ConstnKliw Limitad to Tep¥ir 22 IKxnes that had fwlgd Extern￿ Wdl In$￿at1￿ 1,406.X arKJ *thich was in$lalled in 2013 by 8 faaed geheme. Otlw- Miscellang>Js grant awaffjs 125.800 24.770 2fh).791 191.228 18.212 Total grants p•ld 1022123: 3.353.038 2021122.. 2.891,932 Page J4 0140 pi•tlon*i En•ryy Actlon IOp•T•Urw M p￿> NOYES TO THE FINANCIAL STATeMEIITS FOR THE YEARENDED 31 IAARCH X24 COPITINUED Board of Trustees and oth•f key management p•r•onn•l 8eo)rdance the Charty's ArtKles of Assoc6atbn. the m>mberB of th8 Board ol Truslees received no remunefation during the year. Travel and subsistence cost¥ ￿Te pald for 8 truslees In 2023124 12022123= 10). a￿￿￿ntIng to £8.071 (2022123: £4.9881. Employ• Stsff costs: 10. 11. 202W24 2022123 Wages and 5a18ries Social sec￿lty Ccéts O¢her pensi¢Jn cc6ts Otlw payments 4,472.236 3,231.724 435.611 327.6C¥) 501.033 366.690 41,393 13,812 5,450.273 3,939,8 Tho 4v•rage numb•rofemploy•esdurfng the yearwa%. 2023124 Numbgr 202Y23 Number ef ExeeJJtiw & DepLty Northèm Ireland SuFp￿1 SeTrices OFffitions . CrynmLmities Opw*ions . D&elowent & Partn￿shiPS Pdicy and A¢J￿aCY CommLmicalions aThJ Extema Relati¢y SFfcial Prc4ects k*cffle Maximi￿lon Total 15 31 41 12 12 12 24 20 11 10 130 95 Staff recerving emoluments lindvdin9 taxable t*nefiis in knnd but exdudMI9 employerfs per￿lon and insurance conlributionsl exceeding £60.000 were as follows.. 202W24 202W23 Numb•r Number £60.C￿. £69,999 £70,CW- £79.999 £80.OCQ. £89,999 £s¥J,C(Q . £99,999 £1W,000- £109.999 T￿31 pensIC￿ co￿]1Mrti￿S fi)r staff memtjets receiMn> e1￿Clu1￿enIS of m¢xe Iton £60.OC#) durir4J ITr￿ year amwnted to £56.465 P02J23.. £46.173). 2023124 emF4oyee teneffts. incluth.ng emF4oyers p￿$1￿ c￿￿n￿liOn, t(*afiing £616.012 verp paid to 6 key management (202W23." £576,037 to 7 key management FerS￿n￿l. P•n•lon costs The Chwity cperates a rKfK(*thbLW. defjrkd corrtritrdrtim. Grw Pe￿Or￿ P￿slon Sch8me for ils ployees, administertd by Aegon Scottish Equrt*e. Ern￿OY￿ conlnbutions during yow %*re £501.033 12022123.. £386,690). At 31 March 2024, ￿rt$￿'Thj contsilwb(ms to te pad ow lo SGheme Admirrislralor were £¥21 {31 March 2023.. £2.W). 12. 13. Net oxp•ndltur• befom tran8f•rn Nel exF￿NIltfft tra￿(en Ss at afttr ¢hwgry.' Am￿ntS pay&le lo the aMiitor*Jr. - Audit Fee Other professional 8r*J legaj fees Dep¥eciation Operatir¥J Leases- LaThl and tsili*ros 202W24 2022123 22,750 195,881 19.703 210.970 21,700 113,220 23,598 177, 196 Paga 35 0140 |**NationalEnergyAction(OperatingasNEA)**
**NOTES**TOTHE**FINANCIALSTATEMENTS**FORTHE**YEARENDED31**
**Tangible Assets**|**NationalEnergyAction(OperatingasNEA)**
**NOTES**TOTHE**FINANCIALSTATEMENTS**FORTHE**YEARENDED31**
**Tangible Assets**|
**MARCH2024CONTINUED**|
**MARCH2024CONTINUED**|| |---|---|---|---|---| |||**Leasehold**|**Furniture,**|| |||**properties**-|**fixtures**&|**Total**| |||**short**|**equipment**|| |**Cost**||£|£|£| |1 April2023
Additions
**31March 2024**||117,711
**117,711**|390,699
18,616
**409,315**|508,410
18,616
**527,026**| |**Depreciation**||||| |1 April2023
Chargefor the year
**31March 2024**||81,329
17,903
**99,232**|381,698
1,800
**383,498**|463,027
19,703
**482,730**| |**Netbook valueat31March 2024**
Netbookvalueat31March2023||**18,479**
36,382|**25,817**
9,001|**44,296**
45,383| |**Debtors**||||| ||||**2024**|**2023**| |Tradedebtors|||£|£| |Other debtors|||1,238,804|1,208,677| |Prepamentsand|d i||5,382|5,201| |**Investments**||| |---|---|---| ||**2024**|**2023**| |Listed investments at marketvalue
Historical costoflisted investments
RevaluationReserve
Investmentshavebeen revalued at the31March 2024 closing
price quoted on the London Stock Exchange|£
2,461
(131)
**2,330**|£
2,149
(131)
**2,018**| N•ttoD•l Energy Aetyon (op•r￿n9 i¥ MEAI NOTES TOTHE FINANCLAL STATEMENTS FOR THE YEAR eNDED )1 MARCH 2024¢0MfNUED Cr•dltorn: amounts falllng due wlthln one year 2024 17. 2023 Tr&Je crndJ'lLys Taxation 8fKI s￿19[ secLrrity COSt8 other crethtus Holiday pay p￿s1 Accruals Deferred inceme {see Tr)le 181 Total Credltors 982.001 182,480 2,817 70,203 2￿.724 4.020,512 5,514,737 737.3 74,500 315,692 64.511 140,031 3,294,778 4,626,906 D•ferrgd Incom• Income is recognised when legal entitlement is secured by meeting conditions agieed with funders regarding delNery of projects and other ¢onditions have teen met. In¢ome received prior to enliuement is deferred until the income has been eamed. 2024 2023 Bal*ce 8t 1 April Amount rdeased to in¢ome during year Amount defwred in the year Balancè at 31 March 3.294,776 1,941,763 {811,738) 1559,331) 1,537,474 1,912,344 4.020.512 3,294,7T6 19. Unr•strlctsd In¢om• Funds Balance at Transfers Net Balance at Income ExpgndTEurg Between Investmgnt 31 htsrch Funds Gain 2024 2024 2023 3.331,512 2.018 1.277,700 4611230 687.513 !yi?,5871 1.255,428 4,283.866 1330 1.161,418 312 5447 614 Lknreafj*l Gain an In￿ts Deggnatgj Reservè 312 41). J821 687 51,. _ja lo￿ 869 During 202J23 the Bcord appro¥ed the creab'on of a designated reseTre of £1,277.700 from donab'ons recei*J. During 202Y24. £116,282 of this reserne ha$ been ewended arKI the renBining bak7nce of £1,164.418 wll be used in fulure financial years to pay for hardship grants, inteThentions in reklion to the W Zero Transiti a3￿ n*ior Ad￿a¢Y Caffoaigns. Balan￿ at 1 April Transforn Not Balance at Incomo Expendttura Bgtw8on Invostment 31 March Funds 2023 2,522,813 1,843.867 2,025 1313.745) (721.423) 3.331.512 2,018 1.2TI.700 4611230 Unrealis&J Gain on In*skn%nts Designated Reser4t 1,277,700 2 524 838 1843 867 Page 37 of40 |National|EnergyAction (Operating••NEA)|EnergyAction (Operating••NEA)|EnergyAction (Operating••NEA)|||| |---|---|---|---|---|---|---| |NOTESTOTHEFINANCIALSTATEMENTSFORTHE||YEARENDED|31|MARCH**2024**|CONTINUED|| |**RestrictedIncomeFunds**||||||| ||||||**Transfers**|**Balance at**| |**2024**|**Balanceat**
**1April**|**Income**|**Expenditure**||
**Between**
**Funds**|**31March**
**2024**| ||**2023**|||||| ||£|£||£|£|£| |IncreaseStrategicActionAgainstFuel
Poverty|4,126|2,513,436||(2,102,274)|
(415,288)|| |DevelopandProgressSolutionsto||||||| |ImproveAccess toEnergyEfficiency
Products,Ad'.AceandFuelPoverty|456,115|8,583,379||(8,611,570)|
(425,807)|2,117| |RelatedSenAcesinUKHouseholds||||||| |EnhanceEnergyEfficiencyandFuel
PovertyEducationandSkills||1,508,829||(1,094,496)|
(414,333)|| ||**460,241**|**12,605,644**|**(11,808,340)**||**(1,255,428)**|**2,117**| ||||||**Transfers**|**Balance at**| |**2023**|**Balanceat**
**1April**|Income|**Expenditure**||**Between**
**Funds**|**31March**
**2023**| ||**2022**|||||| ||£|£||£|£|£| |IncreaseStrategicActionAgainstFuel
Poverty|6,492|855,724||(643,696)|
(214,394)|**4,126**| |De\elopandProgressSolutionsto||||||| |ImproveAccess toEnergyEfficiency
Products,A,1-_,tr,i,~.||(7,511,391)|
(106,610)|**456,115**| |RelatedSenAcesinUKHouseholds||||||| |EnhanceEnergyEfficiencyandFuel
PovertyEducationandSkills||1,397,890||(1,162,617)|
(235,273)|| |RestrictedFundsheldat31Marchare:-|**2024**|**2023**| |---|---|---| ||£|£| |ShellDonationFund||454,000| |CoventryHardshipFund&KeepingCoventryWarmFund|2,117|2,117| |NorthernIrelandDonationFund||4126| ||**2,117**|**460,241**| 14atlorbal Enwgy A¢uon NEA) NOTES ToThe STATEMENTS F¢)R THE YeAR ENOED 31 IW4CH 2024coNnNUEO 21. Anaty*ls of Not Assets botw••n Fund• Unr88lrktgd Restrktod Trt•l 2023 Unro8trkt•d Re8trktgd Total Fi>pJ Assets 41,293 Nel Current Assets 5 403 318 Net Assets at the end of the yw 5 447 614 45.383 45.383 2 117 5405435 4,539,875 460 242 5,1)XJ,117 449 n1 4 585 258 460 242 S 045 51Y) Purpos•s of Fund* NEA has an annual Programme of actm1￿ lo help meet its strategic aims and these are funded through different sources of income. All of the Charrty's actNit*s are al￿fted to its strategic aims and obja¢lives which are designed lo make 8 Posbtive tmpact on the alleviation of fuel poverty. C¢)ventry Hsrdship Fund and the Keeping Coventry Wami Fund arè grant•making funds, the balances of which are Restri¢led Funds. The balanc￿ on thes6 funds at 31 March are shvwn in note 20 above. I)Onat￿nS are made on the understsnding that conlribule lo the overall work of NEA within its charitable aims and are generalty treated as Unrestricted Funds. In August 2019 a donalKin of £75.000 was received ftom SSE. which is restricted to be used in Northem IreLqnd. As al 31 March 2024 the balance on this reserve is £0 as the remaining funds of £4,126 were expended during 2023124. Key information atA)Ut actNities and public benefit is given in the Strategic Report of the Trustees for the year ended 31 Ma￿h 2024. on pages 3 to 17 of this document. 23. Flnanclal Commltm•nts- Opernting Loasè Commitments The total future minNnum lease payments under non-cancc-llable cderating leases. Land & Buildings Land & Buikling8 Other Pay*k wlhin one year Payable one ar¥J years after fi* years 52. 198 221.804 2.203 210.287 217.181 19.961 33.485 The tolal value of lease payments recognised as an expense in 202￿24 was £210.970 (202W24.. £177,196). Relatsd P•rty Dlsclosurn8 FRS 102 reqUI￿S to include in its financial statements the disclosures necessary lo draw attonlion to the possibility that ils financial p0511Kin and profft or h)s$ have been affected by the existence of felaled partie5 and by transactKns and outstanding balan￿ wilh such parties. During 2022r23. the charity was awarded a funding contracl by Leicester City Council and the incwie earned from this contract as al 31 March 2024 is £330,860 {31 March 2023 £95,866). Robert Howard who 1$ a Trust￿ of the chaiity is also an employee of Leicester City Council and it is noted that the appropriate protoci)Is h8Vo been followed as per tho Charity Commission's guidance. Robert Howard was excluded from any discussions or decisw$ regarding the fvnding award by Leicasler City Council. The charity's Ch￿f Executive is a Trustee of Energy Action Scotland IEASI and during 2023r24 the charity sold serv￿e$ to EAS whith totalled £23.14912022123 £29.4241 and &4S sokl services lo the charity which totalkd £325 as at 31 March 2024 {31 March 2023 £2,100). It is noted that thè appropriate protocols have been followed as per the Charity CommisS￿n.$ gubdance. 2& NFA does not have any othof related paty transa¢lions Trustees or their connected persons, other than the expenses disclosed in note 10. P•3B 39 of40 IIOTES TO ThE A14AIICIAL STATEIEpTfs FOR THE YEAR EXOED 31 lJiARCH 2024 CONlliiuED Capltsl Commltments Al 31 March 2024 capital ¢c¥nmthnls were £Nil (31 March 2023.. £NiQ. Page 40 0140