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2024-03-31-accounts

Annual report and accounts 2024

We support people and organisations across the UK to tackle the climate emergency and end the cold homes. suffering caused by

CONTENTS Home Structure & governance Introduction Risk management; Trustees’ responsibilities Objectives & activities Independent auditors’ report Impact, achievements & performance Financial statement Funders & clients Notes to the financial statement Future strategy Financial review; Reserves policy

www.cse.org.uk

annual review 2024

Reference and administrative details

Home

Introduction

Objectives & activities

Impact, achievements & performance

Funders & clients

Future strategy

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

Independent auditors’ report

Financial statements

Notes to the financial statements

cse.org.uk

Company 02219673

Company secretary

Trustees

Kaye Welfare (until 12 October 2023) Matthew Ferdinando (from 12 October 2023)

Rachel Burcher (appointed 25 January 2024) Peter Capener MBE Ariane Crampton Andrew Darnton

Charity 298740

Chief Executive

Simon Roberts OBE (until 29 March 2024) Janine Michael (from 15 July 2024)

Dr Jane Dennett-Thorpe (stepped down 11 July 2024) Elizabeth Disdel (appointed 25 January 2024) Peter Ellis (stepped down 25 January 2024) William Gillis

Registered office

Deputy Chief Executive

St James Court, St James Parade, Bristol BS1 3LH

Janine Michael (until 15 July 2024)

Bankers

Bill Hull

HSBC Bank plc, 62 George White Street, Bristol BS1 3BA

Felicity Jones (stepped down 12 October 2023) Claire Miller (appointed 25 January 2024) Anne Obey OBE, Chair of Trustees Shantha Shanmugalingam Deputy Chair Kaye Welfare Jane Wildblood (appointed 25 January 2024)

Auditors

Bishop Fleming LLP, 10 Temple Back, Bristol BS1 6FL

Solicitors TLT LLP, One Redcliff Street, Bristol BS1 6TP

The Trustees present their annual report together with the audited financial statements of the Centre for Sustainable Energy for the year 1 April 2023 to 31 March 2024 . The annual report serves the purposes of both a Trustees’ report and a directors’ report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.

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annual review 2024

Introduction from chair of trustees ...

Home

Introduction

Objectives & activities

Impact, achievements & performance

Funders & clients

Future strategy

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

Independent auditors’ report

Financial statements

Notes to the financial statements

cse.org.uk

As we celebrate our 45th year I am pleased to report that CSE goes from strength to strength. We have achieved record levels of impact in 2023-24 while at the same time delivering an exceptional financial performance. Both will provide a strong foundation for our work going forward.

Against a backdrop of economic challenges and a dilution of net-zero policy commitments by the previous government, householders, funders and partners turned to CSE more than ever as a trusted source of help and a driving force for change.

CSE’s income increased by more than 40% to £8.5m in 2023-24. In part this is accounted for by the increased financial support that we distributed to people in critical need, along with a rise in grant funding for communities. But our projects and services also scaled up, and our staff team grew.

CSE’s work is far reaching. During 2023-24 we helped record numbers of energy advice clients,

collectively saving them more than £11.5m (£4.5m more than the previous year). We grew our home energy retrofit work and supported hundreds of communities and local councils to run local fuel poverty and net zero programmes. And we were persistent in highlighting the negative experiences of our clients in the retail energy market and advocating for policy and regulatory improvements.

We continue to push boundaries and innovate across all areas of our work. We released new open-access tools and data enabling others to plan net zero improvements to their homes and neighbourhoods – and were overwhelmed by the positive response from thousands of users of our new Solar Wizard rooftop solar calculator.

And we maintained our reputation as champion of fairness in the transition to net zero. Through our Smart & Fair research programme we demonstrated practical ways that the developing energy system can avoid excluding people. And through our consumer research on the Demand Flexibility Service trial we provided evidence and insights into which consumers benefit the most from new offers and services.

With a new government open to addressing fuel poverty and tackling the climate emergency, CSE will continue to offer evidence, insight and practical recommendations for the changes

needed to deliver warm homes, affordable energy bills, and a smarter, fairer net zero energy system.

At the end of March 2024 Simon Roberts OBE stepped down as CSE's Chief Executive having led the charity for more than 20 years. In his absence following a stroke in 2022, Janine Michael led the charity with support from other directors, and following an extensive process has recently been appointed as Simon's successor. The board of trustees thank Simon for his enormous contribution to CSE over the last two decades. They would also like to thank Janine and all CSE’s staff and volunteers for their commitment and initiative during the last year – which has delivered such remarkable impact and performance.

Anne Obey OBE Chair of Trustees

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... Objectives and activities

Home

Introduction

Objectives & activities

Impact, achievements & performance

Funders & clients

Future strategy

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

CSE’s vision is a world where sustainability is second nature, carbon emissions have been cut to safe levels, and fuel poverty has been replaced by energy justice.

Our work focuses on societal change – we support people and organisations across the UK to tackle the climate emergency and end the suffering caused by cold homes – sharing our knowledge, practical experience, research evidence and policy insights.

The way we produce and use energy needs to change rapidly if we are to cut carbon emissions and curb the worst impacts of climate change. We owe it to current and future generations to take action now to rapidly reduce emissions.

At the same time, many people in the UK can’t afford to heat their homes, impacting their health and wellbeing. This is unacceptable. Every person has a fundamental right to meet their basic energy needs and stay comfortably warm in winter.

All CSE’s work is dedicated to tackling these dual objectives of cutting carbon emissions and helping those struggling with their energy needs. Together, they are what we mean by ‘sustainable energy’.

Independent auditors’ report

Financial statements

Notes to the financial statements

cse.org.uk

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Our activities include ...

Home

Introduction

Objectives & activities

Impact, achievements & performance

Funders & clients

Future strategy

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

Independent auditors’ report

Financial statements

Notes to the financial statements

cse.org.uk

Designing free tools and models

Empowering individuals

We provide practical energy advice and support to those in fuel poverty, living in cold homes or struggling with their energy bills, and help people to retrofit their homes.

We develop and freely share our analytical tools and models to provide others with easier access and understanding of data, enabling better insights and decision making.

Supporting others to act

Delivering services

We support communities, councils and local organisations across the UK to design and deliver effective local energy plans and projects that address fuel poverty and reduce carbon emissions.

We design and deliver services where they are closely aligned with our charitable purpose, such as area-specific fuel poverty advice services, community energy grant administration, energy software services.

Inspiring future generations

Engaging in debate on net zero

We support young people of all backgrounds to have a voice and become leaders in the energy and environmental sectors.

We use our voice to improve public understanding of net zero and of the need to address fuel poverty and ensure fairness in the transition to a net zero energy system.

Building understanding and sharing learning

Influencing policy, regulation and programme design

We expose people’s lived experience of the current energy system and deliver research, tools and policy insights to make the transition to a net zero energy system, fairer and more inclusive.

Using our research and analysis, alongside evidence drawn from our direct experience working with households and communities, we aim to improve local and national policies and programmes.

Testing and nurturing new ideas

We aim to catalyse change through demonstrating the effectiveness of taking new approaches, for example pioneering new services for the home energy retrofit or engaging new audiences in sustainable energy solutions.

Our website, www.cse.org.uk, has more information about our work and gives free access to many reports, advice leaflets, videos and resources. This sharing of material is central to CSE’s mission: enabling others to take action and increasing our reach and impact.

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annual review 2024

... The year in numbers

Home

Introduction

Objectives & activities

Impact, achievements & performance

Funders & clients

Future strategy

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

Independent auditors’ report

Financial statements Notes to the financial statements

cse.org.uk

The cost-of-living crisis, plus growing interest in home energy retrofit and local solutions to net zero, meant demand for our support hit an all-time high in 2023-24.

We dealt with almost 32,000 enquiries and supported 22,114 people through our freephone energy advice service.

The average saving for people who called our advice line was £525 .

In total we collectively saved our advice clients £11.5 million .

This includes benefits claimed, measures installed (such as insulation and new heating systems), fuel vouchers distributed, and much more.

As a result of our work 2,400+ energy efficiency measures were installed in our clients' homes.

We reached 2,017 young people through our highquality education and youth leadership programmes.

We worked in 24 schools , helping learners in key stages 1 and 2 become energy influencers in their homes and communities.

We supported 854 local authority officers and councillors and 445 community organisations to run local climate-action or fuel poverty initiatives.

We distributed grants worth more than £1 m to 74 groups enabling them to drive community-focused energy projects reaching over 32,000 households.

Over 25,000 people engaged with our evaluation of the Demand Flexibility Service. We were an integral part of the evaluation team, highlighting who benefitted most from this first major national turn-down trial, and who was unable to take part and why.

We actively participated in around 450 events and ran about 200 events ourselves.

Through our media work we achieved coverage with the potential to reach over 160 million people, sharing our practical energy advice and advocating for a smarter, greener and fairer energy system.

In March 2024 we had 8,217 followers on X (formerly Twitter) and 5,505 on LinkedIn.

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... Impact

Home

Introduction

Objectives & activities

Impact, achievements & performance

Funders & clients

Future strategy

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

Independent auditors’ report

Financial statements

Notes to the financial statements

cse.org.uk

Our policy and influence work during the year focused on developing solutions to deliver a fairer, smarter, net zero energy system, as illustrated in the examples below.

u In February 2024 we published our latest Smart

u In our response to Ofgem’s consultation into consumer standards we highlighted the lack of accessibility to services and championed the need for dedicated support lines for vulnerable customers.

and Fair report exploring how

everyone can participate in and benefit from the lowcarbon transition, and not just the customers most favoured by energy companies.

Zero highlighted the role the planning system could play in achieving net zero locally. It

u We supported the development of the Homeflex code of conduct for the energy industry and are now evaluating its acceptance and relevance across the sector.

underpinned the evidence we gave to the Energy Security and Net Zero Committee inquiry into a Flexible Grid of the Future, and our response to government’s proposals for a Future Homes Standard.

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[cont] ... Impact

Home

Introduction

Objectives & activities

Impact, achievements & performance

Funders & clients

Future strategy

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

Independent auditors’ report

Financial statements

Notes to the financial statements

cse.org.uk

During 2023-24 we grew our users and made updates to our free, open-access software, tools and datasets. These help people plan net zero improvements to their homes, communities and local areas.

Solar Wizard

London Heat Map

Impact Community Carbon Calculator

THERMOS

By offering a much faster and more cost-effective and replicable way for planners to deliver viable heat maps for energy master planning, our unique, open-source modelling tool is revolutionising the development of heat networks across the world.

Drawing on more than 30 datasets, Impact estimates the amount of greenhouse gases produced directly and indirectly in any parish, ward or local authority area in England, Scotland or Wales, with a visually engaging format designed to help communities act on reducing their carbon footprint.

Our latest website calculates the potential to generate electricity from rooftop solar panels for homes in England, Scotland and Wales. The model we developed produces quick and independent predictions about the viability of solar PV, from a single house to a whole street. In 2023-24 we launched the free household level calculator solarwizard.org.uk

First developed by CSE over a decade ago, this was the UK’s first open-access regional heat map. With advanced mapping and demand-estimation techniques and continual improvements and updates, it is underpinning heat network investment decisions across London.

impact-tool.org.uk

Used by over

thermos-project.eu Over 3,500 registered users

apps.london.gov.uk/ heatmap

300 councils

During 2023-24 our software team also completed work on the Heat Zoning Model that now sits at the heart of the government’s Heat Network Zoning programme. And CSE was also appointed to the new Heat Zoning consultancy framework through which we’ll provide councils and consultants with the modelled data they need to target and accelerate heat network developments locally.

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Achievements ...

Home

Introduction

Objectives & activities

Impact, achievements & performance

Our work programmes are the foundation of our organisational strategy, representing the areas where CSE has a strong track record along with formidable skills and expertise, and is best placed to drive change and deliver impact.

During 2023-24 we made notable achievements across each of our work programmes.

Funders & clients

Future strategy

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

Independent auditors’ report

u u u u u u Supporting Housing energy Local authority Empowering Future Fairness in the people in fuel retrofit support and communities generations energy system poverty and action for vulnerable net zero circumstances

Financial statements

Notes to the financial statements

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Home

Introduction

Objectives & activities

Impact, achievements & performance

Funders & clients

Future strategy

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

Independent auditors’ report

Financial statements

Notes to the financial statements

cse.org.uk

Achievements [cont]

Supporting people in fuel poverty and vulnerable circumstances

Our energy advice changes lives, helping to improve people’s mental and physical health as well as cutting energy bills and carbon emissions.

In 2023-24, our advisors handled 32,000 enquiries and supported 22,114 people. We helped set up an ethical and sustainable shop in central Bristol where our advisors and volunteers provided face-to-face advice on tariffs, bills and benefits to over 1,000 people.

We secured a record level of fuel-voucher funding (£2m) for prepayment meter customers – from the Energy Industry Voluntary Redress Scheme. Typically this amounted to £300 of credit per household for some of the worst-off households.

We delivered the Household Support Fund for Wiltshire and Bristol councils, providing fuel vouchers, new heating systems and insulation improvements that helped over 2,000 people save on average £357.

In a pilot project for National Grid, we helped over 400 vulnerable people understand smart-energy innovations like time-of-use tariffs.

And we continued to deliver in-depth casework through three longstanding projects: Warmer Homes Advice and Money (WHAM), Tenants Energy Advice service for Bristol council tenants, and Warm & Safe Wiltshire .

We were delighted to win the Vulnerable Customer Support award at the 2023 National Energy Efficiency Awards in recognition of our support for people in fuel poverty.

Housing energy retrofit

We deliver high-quality, people-centred retrofit projects focused on making homes affordable, liveable and low carbon.

In 2023-24, nearly a third of the measures delivered by the government’s flagship £0.7bn Home Upgrade Grant Scheme (HUGS) came about through our collaboration with Somerset Council and Evolve, where we supported applications and installations for 300 householders living in homes that are cold or expensive to heat.

In our home city of Bristol we delivered 115 HUGS assessments, while our work on Energy Company Obligation (ECO) delivered a total of 843 installations.

Our Community Retrofit Guide and Local Energy Advice

Demonstrator projects enabled delivery of local community retrofit work across Wiltshire and Somerset. We trained 19 members of local community groups in retrofit practices and enabled a series of Green Open Homes events.

In partnership with the West of England Combined Authority, CSE also supported the set-up and growth of Retrofit West CIC , providing local households with access to tailored support, surveys and local installers. CSE’s own retrofit staff have staffed the helpline since the service was launched.

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Home

Introduction

Objectives & activities

Impact, achievements & performance

Funders & clients

Future strategy

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

Independent auditors’ report

Financial statements

Notes to the financial statements

cse.org.uk

Achievements [cont]

Local authority action for net zero

We’re specialists in convening stakeholders and building community consensus around planning for net zero.

We worked with two London boroughs – Kensington and Chelsea, and Hammersmith and Fulham – to develop a Cross-borough Energy Masterplan . Our approach involved advanced mapping and modelling techniques to identify prime heat network locations, alongside a carefully managed stakeholder engagement process to integrate local knowledge, and secure consent and commitment from key actors. The results enabled the councils to secure funding for the next stage of heat network delivery.

Using our newly launched Solar Wizard tool we supported the development and targeting of community-scale solar PV projects across Birmingham.

As a key partner in Bristol’s Mission Net Zero project we’ve explored how net zero investment, skills development and delivery programmes can grow directly from the needs and ambitions of communities. A £5m second phase is now in the pipeline.

And we completed research for the Committee on Climate Change into barriers and opportunities for delivering net zero and climate resilience through the local planning system – engaging over 100 stakeholders and highlighting how the planning system should be used more to define and deliver net zero locally.

Empowering communities

We put people and places at the centre of local sustainable energy solutions

In 2023-24 we supported 445 community organisations to run local climateaction or fuel poverty initiatives, distributing grants worth more than £1m to 74 groups.

We re-launched our online community carbon footprint calculator, Impact . We ran multiple Future Energy Landscapes workshops, and Parish Action Days building buy-in for climate action and local renewable energy generation. Our workshops with Climate Outreach, and mapping of their Britain Talks Climate segments, helped communities to frame messages on positive climate actions.

Through our PLACE project, we built up the knowledge and skills of six community organisations and parish councils meaning they can use the planning system to boost renewable energy.

We supported 75 community businesses and organisations to improve their buildings using funding provided by Power to Change and Thrive Renewables.

We also worked to build links with and between individuals and organisations, to identify learning and share good practice. We co-ordinated Wessex Community Energy Network, ran a series of workshops for the Community Energy Fund in the North West, and managed networks of community organisations awarded grants by SGN’s Safe and Warm Communities Scheme and National Grid’s Energy Affordability Fund .

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Home

Achievements [cont]

Future generations

Fairness in the energy system

Introduction

Objectives & activities

Impact, achievements & performance

Funders & clients

Future strategy

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

Independent auditors’ report

Financial statements

Notes to the financial statements

cse.org.uk

We inspire young people to play a meaningful role in the transition to a more sustainable and fairer energy system.

In 2023-24 our high-quality education and youth leadership programmes reached over 2,000 young people.

We welcomed a further 45 participants onto Bright Green Future , our transformative environmental leadership programme, that focuses on inspiring young people of colour to take up careers with a positive environmental slant. Our Bright Green Future alumni network also stayed active, co-delivering workshops on sustainability at the Better Business Summit in Manchester and helping to run a series of online workshops on early career skills.

We also kicked off our work on the youth engagement element of Bristol’s Mission Net Zero and the upskilling strategy for the city’s youth workers.

We ran climate change and energy workshops ain 20 South

Gloucestershire schools and our work delivering Energy Matters to schools across Merton enabled us to refresh and publish our free primary educational resources on climate and

energy for use in schools across the UK.

We’re working to bring about a future energy system that is both low carbon and demonstrably fair.

In 2023-24 we provided data analysis of millions of priority services customers for six distribution network operators i.e. the firms who run the gas and power networks. And in support of National Grid’s social obligations programme we undertook analysis of organisations offering energy and affordable warmth services to vulnerable customers.

As part of our Smart and Fair programme , which works with industry to champion an inclusive energy transition, we undertook an evaluation of household experiences of National Grid ESO’s Demand Flexibility Service , the UK’s first major national turn-down trial. Our survey got over 25,000 responses, representing a mine of evidence on how different households shift their electricity demand to earn rewards. Insights from our evaluation have been used to inform industry practice and to influence policy development. The evaluation itself has been cited by Energy UK and Citizen’s Advice in submissions to Ofgem, and by the UK parliament.

We produce resources that help everyone – regardless of income, circumstances or capability – benefit from the low carbon transition. Our Smart Energy Action Plans help households identify which smart energy options work for them, be it a time-of-use tariff or solar panels.

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Funders and clients ...

Home

Introduction

Objectives & activities

Impact, achievements & performance

Funders & clients

Future strategy

In 2023-24, CSE secured more than £8.5m for its activities, once again a growth of approximately 40% against the previous financial year.

Our funding came from a mix of national and associated bodies, local government, energy industry, research and charitable sources. Some activities were grant funded while others were delivered as a contract or service. In addition, some funding came via project partners with whom we jointly developed funding proposals.

The trustees would like to thank all CSE’s funders and clients for their support of our work in the year:

Financial review; Reserves policy

Structure & governance

Risk management; Trustees’ responsibilities

Independent auditors’ report

Financial statements

Notes to the financial statements

cse.org.uk

1 Energy

ACCESS - The Foundation for Social Investment

Association for Decentralised Energy (ACE Research)

AECOM Ltd Alliance Homes Arun District Council

Aspey Energy

Bath and West Community Energy

Baxter Kelly Ltd

BBH Consulting AG

Berks Insulation

Birmingham City Council

Bristol City Council Bristol City Leap

Bristol Energy Cooperative

Bristol Climate and Nature Partnership CIC

Buckinghamshire Council C&T Eco Consultants Ltd Cadent Gas Ltd CAG Consultants Carbon Rewind Citizens Advice

City Energy Network Ltd Committee on Climate Change Complete Remedial Solutions Correct Contract Services Ltd Cotswold District Council Creara

Curtis Anstee Eco Installations Ltd

Department for Energy Security and Net Zero

Devon County Council Durham County Council Electricity North West Ltd

Energy Saving Group Energy Saving Trust (Ofgem Energy Industry Voluntary Redress Scheme) EnergySmart Envo Energy Esmée Fairbairn Foundation European Commission (Horizon 2020) Evolve Home Energy Solutions First Choice Energy Flex Assure Ltd Francis Winham Foundation Frome Town Council GHE Solar Ltd Gloucester City Council Golden Globe Ltd Good Earth Gower Street Trust

Greater London Authority Greater Manchester Combined Authority Green Home Plans Ltd Green Improve Green Leaf Solar Energy UK Ltd Greener Solutions Group Ltd Groundwork UK Historic England Iclei Action Fund (on behalf of Tides Foundation)

Innovate UK J&J Crump & Son Ltd Land Use Consultants Local Trust

London Borough of Merton Council Love to Save Energy Ltd Marigold Insulation UK

MCS Charitable Foundation

Monza Installs

My Eco Move Ltd

National Grid Electricity Distribution National Grid ESO

National Infrastructure Commission for Wales

NHS BANES, Swindon & Wiltshire ICB

NHS Shared Business Services (SBS)

North Somerset Council

Consumer Council for Northern Ireland

Northern Powergrid

Nottingham City Council (on behalf of West Midlands Combined Authority

Ofgem

continued ...

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Funders and clients cont ...

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Future strategy

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Structure & governance

OVO Energy

Oxfordshire County Council

Parity Projects Power to Change Trust

Quartet Community Foundation

Regen Repowering Ltd

Retford Counsulting Retrofit West CIC Retrospect Ltd Ricardo

RISE Social Enterprise Ltd RJM Insulation

Royal Borough of Kensington and Chelsea Scottish and Southern Electricity Networks

Scottish Hydro Electric Power Distribution Plc

SGN

SIA Partners Ltd

Simple Green Energy Ltd Simply Eco Ltd Smart Energy Sense

Smart Energy West Midlands Ltd So Eco

Society of Local Council Clerks Society of Local Council Clerks - Sussex Branch Somerset Community Foundation Somerset Council South Coast Building Company South Coast Insulation Services South Gloucestershire Council

South Wonston Parish Council

SP Energy Networks St Monica Trust Steer Economic Development Stroud District Council Sustainability First

SWALLOW (South West Action for Learning and Living Our Way) Ltd Sweet.Work Ltd

Swindon Borough Council Switch Energy TDS Charitable Foundation

The Anchor Society The Aurora Trust The Blagrave Trust

The Barrow Cadbury Trust (Connect Fund)

The Ernest Cook Trust

The Green Register

The National Benevolent Charity The Nature Conservancy The Newcore Foundation Thirty Percy Foundation Thrive Renewables Plc

UK Energy Management (NE) Ltd UK Power Networks Universidad Politecnica Madrid University College London University of Birmingham University of East Anglia Urban Retrofit Projects Ltd Waddeton Park Ltd Wales & West Utilities Ltd

WarmaUK

Wessex Community Energy Network Wessex Water Services Ltd West of England Combined Authority

Wiltshire Community Foundation

Wiltshire Council Wolf & Player Zing Energy Ltd Zoa Energy Solutions Ltd

Risk management; Trustees’ responsibilities

Independent auditors’ report

Financial statements

Notes to the financial statements

cse.org.uk

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... Future strategy

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Future strategy

Financial review; Reserves policy

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Independent auditors’ report

Financial statements Notes to the financial statements

cse.org.uk

With a new government open to addressing fuel poverty and tackling the climate emergency, CSE will continue to offer evidence, insight and practical recommendations for the programmes, policy and regulatory changes needed to deliver warm homes, affordable energy bills, and a smarter, fairer net zero energy system.

In January 2024, we completed and published our refreshed organisational strategy – focused on working towards five over-arching strategic objectives.

Going forward, our work will continue to be delivered through the six work programmes. These are the areas around which our business development and fundraising, communications, impact reporting and policy influence activities are all centred.

Support for people in fuel poverty and vulnerable circumstances

We will provide direct advice and support for people living in fuel poverty, improving their wellbeing and energy literacy and raising awareness of the actions they can take and support available. We will advocate for fair energy policies and programmes that address fuel poverty and enhance the energy efficiency of the homes of these more disadvantaged people.

Housing energy retrofit

We will develop and deliver high-quality, people-centred retrofit programmes and services which empower and support people to make good long-term decisions about their homes. These will focus on making people’s homes affordable, liveable and low carbon – making sure they provide a healthy living environment, are thermally efficient, adequately ventilated, and use a low carbon heating technology.

Local authority support and action for net zero

We will support local authorities of all types and sizes, to lead and drive forward energy-related net zero goals in a timely, socially just and locally resonant way. We will provide access to the knowledge, data and expertise to drive forward place-based technical and non-technical solutions, making it easier and cheaper for authorities to plan and act.

Empowering communities

We will enable communities to be at the forefront of designing and delivering community-based climate action and enhance the capacity,

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cont ... Future strategy

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Future strategy

Financial review; Reserves policy

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Independent auditors’ report

Financial statements Notes to the financial statements

cse.org.uk

strength, and influence of individuals and groups to make positive changes to and within their communities.

Future generations

We will support young people (‘young people’ defined as those between 5 and 25) of all backgrounds to feel inspired and able to play a meaningful role in catalysing and delivering the transition to a more sustainable and fairer energy system. We will build on our youth-focused work in schools and communities – looking to integrate young people’s energy, views and desires into CSE’s work as a whole.

Fairness in the energy system

We will provide evidence, insights and solutions to enable the development of a fairer energy system. This means actively supporting the development of a system and energy market that delivers environmental and societal value in partnership with people, allows all to meet their basic energy needs at costs that they can afford, and ensures equitable distribution of system benefits and costs.

Looking forward we also aim to:

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Financial review

Reserves policy

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Independent auditors’ report

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Notes to the financial statements

cse.org.uk

Following the incorporation of Retrofit West CIC in January 2023, as a wholly owned subsidiary of CSE; for the first time these accounts represent the consolidated group financial results for both CSE and Retrofit West CIC.

In the year to 31 March 2024, the group generated a combined income of £8,993,736 and against this, a surplus of £540,469. As detailed in the notes to the accounts, Retrofit West CIC broke even during this reported period, as planned; with all of the reported surplus having been generated by the parent charity, CSE.

In the year to 31 March 2024, CSE as parent charity alone made a surplus of £540,468 on its income of £8,512,412. This followed a year where we had returned to modest surplus (2022-23: surplus of £214,672 on an income of just over £6m) after a year where we had invested heavily in organisational development associated with growth.

CSE's income of £8.5m (excluding Retrofit West CIC) represented 42% growth compared to the previous year (£6m in 2022-23) which built on 40% growth the previous year (£4.3m in 2021-22). Recent growth has been due to an expansion and upscaling of our work, particularly in our Household Energy Services team (delivering energy advice and housing retrofit work) and our Research & Analysis team (including our work on fairness in the energy system). The increase in income over the last two years is also in part due to the

additional funding we have secured to directly support advice clients and communities (i.e. grants, vouchers and direct energy benefits which we administer and pass through to people).

Our financial results were an improvement over the surplus originally anticipated in our budget – in part due to achieving higher than anticipated staff chargeability in the year and embedding new project management guidance and systems resulting in more efficient project and service delivery during the year. We also increased our charge-out rates in line with inflation, but this was largely offset by equivalent inflation-matching increases in staff salaries, and higher direct operational costs.

During 2023-24, our CSE staff team grew by 18% (119 full time equivalent (FTE) in March 2024 compared to 98 FTE in March 2022). We recruited 36 new members of staff during the year and saw 18 staff leave us (some of whom were part time). Overall our staff team has grown by 65% in the last three years (71 FTE in March 2021).

We expect continued gradual and managed growth in the year ahead, and we will continue to focus on achieving a modest surplus that will enable us to sustain a minimum level of reserves commensurate with our size and make necessary investments in staff development, welfare and benefits and operational efficiency now that we are a larger organisation.

Our reserves policy establishes a minimum target for our unrestricted reserves and the approach we take to any reserves in excess of that minimum.

The minimum reserves target takes account of two scenarios: (a) the liabilities which would be faced by the charity if it were to cease operating, and (b) the financial cushion the charity would need to cover losses while it responded to a serious but possible funding crisis without immediately losing valuable staff.

Based on this policy and taking account of the diversity of our funding sources, at the end of March 2024, our minimum reserves target (for total unrestricted funds) was £1.2m, with a minimum target for net current assets of £1m.

At the end of March 2024 our reserves stood at £1,547,192 with net current assets at £1,357,936.

In July 2024, CSE’s trustees approved an increase to our overall reserves target to £1.5m, with a minimum target for net current assets of £1.3m - reflecting the recent and anticipated continued growth of the organisation.

Should reserves and net current assets reach a level where they exceed minimum targets, the trustees will consider strategic investments aligned with the charity’s strategic priorities such as initiatives to help increase our impact, explore new approaches, build our capacity and that of others, and make the case for funding to external funders.

The trustees will continue to review the reserves policy and associated targets on an annual basis, with the aim in the longer term of holding reserves at a level where investments can be made in agreed strategically relevant work.

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Structure, governance and management

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Constitution

The Centre for Sustainable Energy (CSE) is a registered charity and company limited by guarantee, having no share capital. CSE’s Memorandum and Articles of Association are the primary governing documents of the charity.

Policies & structure

The charity operates with a board of volunteer trustees that meets quarterly. The board has also established a Finance Committee which meets and reports to the board periodically.

The trustees have overall responsibility for organisational strategy, financial management and compliance with the purposes of the charity. This responsibility is devolved within a clearly documented framework of delegated powers to the Chief Executive and the Senior Leadership Team. The Senior Leadership Team maintains and implements the policies of the organisation and the Chief Executive and members of the Senior Leadership Team report to the trustees at each quarterly meeting.

Pay policy and staff benefits

CSE is accredited as a Real Living Wage employer. All staff at CSE are paid according to a graded salary scale which was established to reflect the differences in responsibility, skills and capabilities required in each role. The ratio between the salaries of the highest (Chief Executive) and lowest paid member of staff (our interns) is currently 3:7.

All staff are entitled to participate in the CSE contributory pension scheme (8% employer contribution, 6% employee contribution) which has also been adopted as our auto enrolment scheme since November 2015. The charity offers a wide range of other staff benefits including a CSE-funded Life Assurance Scheme and Health Cash Plan for every employee, cycle to work and home & tech schemes and a selection of other voluntary benefits available through salary sacrifice.

Public benefit

CSE has complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

Management and structure

During the year there were a number of changes to the Senior Leadership Team and management structure of the charity.

Following the Chief Executive, Simon Roberts', stroke in May 2022, Janine Michael stepped in to lead the charity, and following an extensive process has recently been appointed by the trustees as Chief Executive.

The Senior Leadership Team was restructured during the year, with the appointment of a new Director of Development & External Affairs encompassing fundraising, communications and a new policy function. There were also new appointments made to the positions of Director of Household Energy Services and Director of Research & Analysis.

During the 2023-24 financial year the Senior Leadership Team comprised:

● Simon Roberts OBE, Chief Executive, who returned to CSE on a part-time basis from June 2023 and stepped down in March 2024.

Development & Communications and Interim Deputy Chief Executive until August 2023; Deputy Chief Executive from September 2023.

The wider management structure of the organisation was also developed further during the year, with a wider Senior Management Team comprising Directors, Heads of Team and functional leads, meeting each month and supporting directors in undertaking staffing and operational management.

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Risk management

regular staff survey) and subsequent investment in improved staff benefits and conditions and enhanced focus on staff development and progression.

The board of trustees has considered the major risks to which CSE is exposed, the systems and procedures in place to mitigate exposure to them and the future actions planned. The Senior Leadership Team maintain an organisational risk register and routinely track and assess risks, highlighting high risks and key changes in the risk register at each trustee meeting.

Operationally there is an ongoing and key risk associated with CSE’s continued growth – with growth experienced across most of CSE’s work programmes. Mitigation has included changes to internal management structures and an enhancement of support functions with expanded finance and HR functions, the introduction of new IT support and training roles, and a growth in the development and fundraising staff team. Trustees have also discussed the pressures on the charity's existing office space and systems due to growth, exacerbated by local redevelopment work impacting the office environment.

The principal strategic risks to the charity are a failure to secure sufficient funding at a scale needed to support delivery of our strategy and work programme priorities and a failure to keep up with knowledge, energy sector developments and a fastchanging policy landscape. These are being mitigated through investment in development and fundraising for our work programmes, a new policy function that involves staff from across the organisation in our policy influence work, and investment in ensuring key staff have the time and agency to build external networks and partnerships.

Impacts have been mitigated to date through improving systems and support for hybrid working, reconfiguring the office space to maximise its value and introducing booths to enable more virtual meeting facilities. Options for taking additional space and relocation at the end of the current lease in 2027 are also being actively explored, the minimum financial reserves target now taking into account the costs associated with a potential future office relocation.

With the employment market buoyant, there is a continued risk of loss of key staff and skills across the organisation, despite CSE’s positive working culture and good staff retention record. Again, this risk is being actively managed through stronger staff engagement (via a employee voice group and

Statement of trustees’ responsibilities

The trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

l Select suitable accounting policies and then apply them consistently.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of trustees on its behalf by: Anne Obey OBE, 3 October 2024.

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Independent auditors’ report to the members of Centre for Sustainable Energy

opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

statements section of our report. We are independent of the group and the parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Opinion

We have audited the financial statements of Centre for Sustainable Energy (the ‘parent charitable company‘) and its subsidiary (the ‘group‘) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

In our opinion the financial statements:

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

Basis for opinion

The other information comprises the information included in the Annual report other than the financial statements and our Auditors’ report thereon. The Trustees are responsible for the other information contained within the Annual report. Our

Matters on which we are required to report by exception

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial

In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we

have not identified material misstatements in the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

• the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Trustees’ report and from the requirement to prepare a Strategic report.

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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annual review 2024

Independent auditors’ report to the members of Centre for Sustainable Energy [cont]

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In preparing the financial statements, the Trustees are responsible for assessing the group and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group and the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, Charities Act 2011, Charity SORP 2019, FRS 102 and the terms and conditions attaching to material contracts, agreements and grants received by the group and the parent charitable company.

In addition, we considered the provisions

of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group and the parent charitable company’s ability to operate or avoid a material penalty.

Our procedures to respond to risks identified included the following:

We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit.

As a result of the inherent limitations of an audit, there is a risk that not all irregularities, including a material misstatement in

financial statements or non-compliance with regulation, will be detected by us. The risk increases the further removed compliance with a law and regulation is from the events and transactions reflected in the financial statements, given we will be less likely to be aware of it, or should the irregularity occur as a result of fraud rather than a one off error, as this may involve intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors’ report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Chris Trantham FCA (Senior Statutory Auditor) for and on behalf of Bishop Fleming LLP, Chartered Accountants, Statutory Auditor, 10 Temple Back, Bristol BS1 6FL

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annual review 2024

Consolidated Statement of Financial Activities (incorporating income and expenditure account)

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Financial statements

Income from:
Donations and legaciesNote 3
Charitable activitiesNote 4
Other
Total income
Expenditure
Charitable activitiesNote 5
Total expenditure
Net income/(expenditure)
Transfers between fundsNote 13
Net movement in funds
Reconciliation of funds
Funds at the beginning of the period
Net movement in funds
Funds at the end of the period		 Unrestricted funds
2024 (£)
15,413
4,755,902
-
4,771,315
4,230,396
4,230,396
540,919
(450)
540,469
1,006,723
540,469
1,547,192		 Restricted funds
2024 (£)
-
4,222,421
-
4,222,421
4,222,871
4,222,871
(450)
450
-
-
-
-		 Total funds
2024 (£)
15,413
8,978,323
-
8,993,736
8,453,267
8,453,267
540,469
-
540,469
1,006,723
540,469
1,547,192		 Total funds
2023 (£)
17,402
5,983,693
2,750
6,003,845
5,789,173
5,789,173
214,672
-
214,672
792,051
214,672
1,006,723

Notes to the financial statements

n The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

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n The notes on pages 25 to 43 form part of these financial statements.

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Consolidated and Charity Balance Sheets as at 31 March 2024

Group 2024 (£) Charity 2024 (£) Group 2023 (£) Charity 2023 (£)
Fixed assets
Intangible assetsNote 13
Tangible fxed assetsNote 14		 42,431
146,825		 42,431
143,065		 44,100
152,299		 44,100
152,299
Investments in subsidiariesNote 10 - 1 - -
Total fxed assets 189,256 185,497 196,399 196,399
Current assets
DebtorsNote 15 1,890,459 2,016,955 1,426,353 1,426,353
Cash at bank and in hand 1,627,636 1,446,243 1,146,605 1,146,605
Total current assets 3,518,095 3,463,198 2,572,958 2,572,958
Creditors: amounts due within one yearNote 16 (2,160,159) (2,101,503) (1,762,634) (1,762,634)
Net current assets 1,357,936 1,361,695 810,324 810,324
Total assets less current liabilities 1,547,192 1,547,192 1,006,723 1,006,723
Net assets 1,547,192 1,547,192 1,006,723 1,006,723
Funds
RestrictedNote 17 - - - -
Unrestricted:
General fundsNote 17 1,547,192 1,547,192 1,006,723 1,006,723
Total unrestricted funds 1,547,192 1,547,192 1,006,723 1,006,723
Total funds 1,547,192 1,547,192 1,006,723 1,006,723

Company 2219673

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. • The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. • The financial statements were approved and authorised for issue by the Trustees on 3 October 2024 and signed on their behalf by Anne Obey OBE.

p23

annual review 2024

Consolidated statement of cash flows

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2024 (£) 2023 (£)
Cash fows from operating activities:
Net cash used in operating activities (see below) 572,985 (68,339)
Cash fows from investing activities:
Purchase of tangible fxed assets		 (79,479) (31,333)
Expenditure on intangible assets (12,475) (44,100)
Net cash provided by investing activities (91,954) (75,433)
Change in cash and cash equivalents in the reporting period 481,031 (143,772)
Cash and cash equivalents at the beginning of the reporting period 1,146,605 1,290,377
Cash and cash equivalents at the end of the reporting period 1,627,636 1,146,605
Reconciliation of net income/(expenditure) to net cashfow operating activities
Net (expenditure)/income for the reporting period 540,469 214,672
Adjustments for:
Depreciation charges 84,953 52,864
Amortisation charges 14,144 -
(Increase)/Decrease in debtors (464,106) (347,139)
Increase in creditors 397,525 11,264
Net cash provided by operating activities 572,985 (68,339)
Analysis of cash and cash equivalents
Cash at bank and in hand 1,627,636 1,146,605
Total cash and cash equivalents 1,627,636 1,146,605
Analysis of changes in net debt At 1 April 2023 (£) Cash fows (£) At 31 March 2024 (£)
Cash at bank and in hand 1,146,605 481,031 1,627,636

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Notes to the Statement of Financial Activities

Note 1 General information

The charity is a company limited by guarantee. The members of the charity are the Trustees named on page 2. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The charity's registered office is: St. James Court, St. James Parade, Bristol, BS1 3LH.

Note 2 Accounting policies

2.01 Basis of preparation

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Centre for Sustainable Energy meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.02 Consolidation

These financial statements consolidate the results of the Charity and its wholly-owned subsidiary, Retrofit West C.I.C., on a line by line basis. A separate statement of financial activities, or income and expenditure account, for the C.I.C. itself is not presented because it has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.

2.03 Going concern

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material

uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

The Trustees continue to monitor the financial position of the charity and the potential impacts of inflation, challenges in recruitment, staff retention and the rising cost of living for our staff. The charity continues to have a healthy cash position and a strong forward plan of agreed future work. Under all the scenarios reviewed, the charity has sufficient reserves to enable it to continue as a going concern for the foreseeable future. For this reason it continues to adopt the going concern basis in preparing the financial statements.

2.04 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity

for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2.05 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Contractual income is recognised in the Statement of Financial Activities to the extent that the charity has provided the services. Where contractual income is received in advance but the charity has not provided the relevant services then this income is deferred.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

2.06 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement

and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

All expenditure is inclusive of irrecoverable VAT.

2.07 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.

2.8 Tangible fixed assets and depreciation

Tangible fixed assets costing more than £500 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value

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Notes to the Statement of Financial Activities [cont]

Note 2 Accounting policies [cont]

of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: leasehold improvements, over the life of the lease; fixtures and fittings, over 4-5 years; office equipment, over 2-4 years; project assets, over the life of the project.

2.9 Intangible assets

Intangible assets are held on the balance sheet at cost less accumulated amortisation and impairment losses.

Website costs, including development costs, are capitalised as an intangible asset and amortised on a straight line basis over the expected useful life of four years.

Impairment reviews are conducted when events and changes in circumstances indicate that an impairment may have occurred. If any asset is found to have a carrying value materially higher than its recoverable amount, it is written down accordingly.

2.10 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.

2.11 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.12 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

2.13 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.14 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the

amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.14 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.15 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

p26

Notes to the Statement of Financial Activities [cont]

Note 3 Income from donations and legacies

Donations
Grants
Legacies		 Unrestricted funds 2024 (£)
11,619
3,794
-
15,413		 Total funds 2024 (£)
11,619
3,794
-
15,413		 Total funds 2023 (£)
10,652
2,450
4,300
17,402

Note 4 Income from charitable activities

Unrestricted funds 2024 (£) Restricted funds 2024 (£) Total funds 2024 (£) Total funds 2023 (£)
Research and analysis 1,535,187 105,276 1,640,463 1,130,959
Household energy services 2,622,044 3,649,877 6,271,921 4,020,836
Local and community empowerment 598,671 467,268 1,065,939 831,898
4,755,902 4,222,421 8,978,323 5,983,693
Total 2023 3,742,297 2,241,396 5,983,693

p27

Notes to the Statement of Financial Activities [cont]

Note 5 Analysis of expenditure on charitable activities

Summary by fund type
Unrestricted funds 2024 (£)
Restricted		 funds 2024 (£) Total funds 2024 (£) Total funds 2023 (£)
Governance costs 64,185 - 64,185 36,926
Research and analysis 1,441,497 105,454 1,546,951 1,160,958
Household energy services 2,114,411 3,650,149 5,764,560 3,752,464
Local and community empowerment 610,303 467,268 1,077,571 838,825
4,230,396 4,222,871 8,453,267 5,789,173
Total 2023 3,543,322 2,245,851 5,789,173
Summary by expenditure type
Staf costs 2024 (£)
Depreciation 2024 (£)		 Other costs 2024 (£) Total funds 2024 (£) Total funds 2023 (£)
Governance costs 16,922 - 47,263 64,185 36,926
Research and analysis 1,062,304 12,561 472,086 1,546,951 1,160,958
Household energy services 2,954,907 58,390 2,751,263 5,764,560 3,752,464
Local and community empowerment 650,660 14,002 412,909 1,077,571 838,825
4,684,793
84,953		 3,683,521 8,453,267 5,789,173
Total 2023 3,615,607
52,864		 2,120,702 5,789,173

p28

Notes to the Statement of Financial Activities [cont]

Note 6 Analysis of expenditure by activities

Governance costs
Research and analysis
Household energy services
Local and community empowerment
Total 2023		 Activities undertaken
Support costs
Total funds
Total funds
directly 2024 (£)
2024 (£)
2024 (£)
2023 (£)
-
64,185
64,185
36,926
1,378,611
168,340
1,546,951
1,160,958
5,297,217
467,343
5,764,560
3,752,464
974,463
103,108
1,077,571
838,825
7,650,291
802,976
8,453,267
5,789,173
5,250,059
539,114
5,789,173

Note 7 Auditors’ remuneration

Fees payable to the auditor for the audit of the Group annual accounts

2024 (£) 2023 (£) 17,600 12,500

Note 8 Staff costs

Note 8Staf costs
Wages and salaries
Social security costs
Pension costs		 2024 (£)
2023 (£)
4,036,004
3,089,412
350,494
282,795
298,295
243,400
4,684,793
3,615,607

p29

Notes to the Statement of Financial Activities [cont]

Note 9 Results of the Parent Charity

These accounts do not include a Statement of Financial Activities for the parent charity, as permitted under section 408 of the Companies Act 2006. The relevant figures for the year ended 31 March for the parent charity were:


March for the parent charity were:		 ,
2024 (£) 2023 (£)
Gross income 8,512,412 6,003,845
Surplus for the year 540,469 214,672

Note 10 Investments in Subsidiary - Charity

The charity has an unlisted investment with a historical cost of £1 representing its 100% shareholding in Retrofit West CIC, which is a company registered in England that carries out activities to promote, develop and facilitate the retrofitting of homes and buildings to achieve net zero and energy affordability. A summary of that company’s financial position is set out in note 11.

p30

Notes to the Statement of Financial Activities [cont]

Note 11 Subsidiary Results

Retrofit West CIC

Note 11Subsidiary Results
Retroft West CIC
2024 (£)
Turnover
Grant income 683,675
Cost of sales
Direct costs - including costs of grants made & advice provided to communities and households” (248,606)
Gross proft 435,069
Administrative expenses (435,069)
Net proft -
The aggregate of the assets, liabilities and funds was:
Fixed assets 3,760
Current assets 251,313
Current liabilities (255,072)
Share capital (1)
-
Retroft West C.I.C. was incorporated on 5 January 2023. These results are for the period 5 January 2023 to 31 March 2024. The company received funding and support from the West of
England Combined Authority (WECA) to provide advice and grants to community groups and householders to stimulate demand for retroft works.

Note 12 Trustee and connected persons transactions

No trustees received any remuneration or other benefits in the current or prior year.

During the year ended 31 March 2024, one Trustee claimed travel expenses totalling £410 (2023 - £180).

p31

Notes to the Statement of Financial Activities [cont]

Note 13 Intangible assets - The Group and The Charity

Note 13Intangible assets - The Group and The Charity
Cost
At 1 April 2023
Additions
At 31 March 2024
Accumulated amortisation
At 1 April 2023
Charge for period
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Website (£)
44,100
12,475
56,575
-
14,144
14,144
42,431
44,100		 Total (£)
44,100
12,475
56,575
-
14,144
14,144
42,431
44,100

During the prior year we invested in our website. This was launched in April 2023 and we began amortising the costs.

p32

Notes to the Statement of Financial Activities [cont]

Note 14 Tangible fixed assets - The Group and Charity

Cost
At 1 April 2023
Additions
At 31 March 2024
Accumulated depreciation
At 1 April 2023
Charge for period
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Long-term leasehold property (£)
225,576
-
225,576
136,003
20,358
156,361
69,215
89,573		 Fixtures & fttings (£)
Ofce equipment (£)
9,358
211,432
6,828
42,822
16,186
254,254
9,358
148,706
945
33,821
10,303
182,527
5,883
71,727
-
62,726		 Project Assets (£)
-
29,829
29,829
-
29,829
29,829
-
-		 Total (£)
446,366
79,479
525,845
294,067
84,953
379,020
146,825
152,299

The above Fixed Assets include a net value of £3,759 relating to office equipment belonging to the subsidiary, Retrofit West CIC (2023: £nil).

p33

Notes to the Statement of Financial Activities [cont]

Note 15 Debtors

Note 15Debtors
Group2024 (£) Charity2024 (£) Group 2023 (£) Charity2023 (£)
Amounts falling due within one year
Trade debtors 551,838 730,479 764,733 764,733
Prepayments and accrued income 1,327,262 1,257,342 661,620 658,845
Amounts due from group undertakings - 17,775 - 2,775
Other debtors 11,359 11,359 - -
Total due within one year 1,890,459 2,016,955 1,426,353 1,426,353

Note 16 Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
Accruals and deferred income
Other creditors
Deferred income at At 1 April 2023
Resources deferred during the year
Amounts released from previous periods		 Group2024 (£)
227,387
359,431
1,500,355
72,986
2,160,159
Group2024 (£)
1,106,878
1,296,358
(1,106,878)
1,296,358		 Charity2024 (£)
188,227
346,135
1,494,15~~5~~
72,98~~6~~
2,101,503
Charity2024 (£)
1,106,878
1,296,35~~8~~
(1,106,878~~)~~
1,296,358		 Group 2023 (£)
133,287
287,207
1,290,58~~8~~
51,55~~2~~
1,762,634
Group 2023 (£)
1,155,746
1,106,87~~8~~
(1,155,746~~)~~
1,106,878		 Charity2023 (£)
133,287
287,207
1,290,588
51552
,
1,762,634
Charity2023 (£)
1,155,746
1,106,878
(1155746)
,,
1,106,878

n Deferred income related to project income which has been received or invoiced in advance of the work being carried out.

p34

Notes to the Statement of Financial Activities [cont]

Note 17 Statement of funds

Current year

Note 17Statement of funds
Current year		 Note 17Statement of funds
Current year
Balance at 1 April 2023
Income
Expenditure
Net transfers
Balance at 31 March 2024
(£)
(£)
(£)
(£)
(£)
Unrestricted funds
General funds
General Funds
1,006,723
4,771,315
(4,230,396)
(450)
1,547,192
Total unrestricted funds
1,006,723
4,771,315
(4,230,396)
(450)
1,547,192
Restricted funds
Act!onHeat
-
55,921
(55,921)
-
-
-
55,921
(55,921)
-
-
Aurora
 -
48,815
(48,815)
-
-
Aurora Retroft Advocacy -
2,147
(2,147)
-
-
Bath & West CommunityEnergyRedress -
7,637
(7,637)
-
-
BESN 2022-23 -
10,618
(10,618)
-
-
Bristol Climate Action Fund 2 -
18,288
(18,288)
-
-
Bristol Heat PumpReady -
404,672
(404,672)
-
-
Bristol Household Support Grant 2022-23 -
23,771
(23,771)
-
-
Bristol Household Support Grant 2023-24 -
603,175
(603,175)
-
-
Bristol HUGs WHAM -
28,339
(28,339)
-
-
Bristol Mission Net Zero -
14,524
(14,524)
-
-
CommunityEnergySupport Network -
214,949
(214,949)
-
-
EnergyOutreach Project -
9,831
(9,831)
-
-
EnergyRedress Caseworker Project -
50,645
(50,645)
-
-
EnergyRedress Fuel Voucher -
525,846
(525,846)
-
-
Futureproof Wiltshire LEAD -
294,011
(294,011)
-
-
Green Home Finance – Empower -
3,873
(3,873)
-
-

p35

Notes to the Statement of Financial Activities [cont]

Green Infuencers -
6,057
(6,057)
-
-
-
52,327
(52,327)
-
-
-
1,619
(1,619)
-
-
-
21,135
(21,135)
-
-
-
47,000
(47,178)
178
-
-
46,961
(46,961)
-
-
-
7,932
(7,932)
-
-
-
51,774
(51,774)
-
-
-
40,363
(40,363)
-
-
-
41,685
(41,685)
-
-
-
88,843
(88,843)
-
-
-
40,248
(40,248)
-
-
-
683,675
(683,675)
-
-
-
2,355
(2,355)
-
-
-
31,979
(31,979)
-
-
-
3,900
(3,900)
-
-
-
100,644
(100,644)
-
-
-
2,216
(2,337)
121
-
-
5,145
(5,296)
151
-
-
83,386
(83,386)
-
-
-
8,249
(8,249)
-
-
-
157,177
(157,177)
-
-
-
74,715
(74,715)
-
-
-
263,756
(263,756)
-
-
-
42,218
(42,218)
-
-
-
4,222,421
(4,222,871)
450
-
1,006,723
8,993,736
(8,453,267)
-
1,547,192
HeatAbility
Home Visits Advanced
ICLEI Action Fund 1.1
Impact Tool Update 2023
Merton EnergyMatters
National Landlord Advice Service
North Somerset caseworker
North Somerset Covid RecoveryWHAM
PLACE
Redress WHAM
Retroft support services
Retroft West C.I.C WECA Grant
Smart EnergyChoices Tool
Swindon Boiler Fund 2023-24
VCSE EnergyEfciencyScheme
WCF SurvivingWinter Grant 2023-24 & 2022-23
WHAM Quartet
WHAM Quartet & Merchant Ventures
WHAM Redress 2
Wiltshire Health Inequalities
Wiltshire Household Support Fund 4
Wiltshire Installs
WoE LEAD
WWU WHAM
Total Restricted Funds
Total Funds

p36

Notes to the Statement of Financial Activities [cont]

Note 17 Statement of funds

Prior year

Note 17Statement of funds
Prior year
Balance at 1 April 2022 Income Expenditure Net transfers Balance at 31 March 2023
(£) (£) (£) (£) (£)
Unrestricted funds
Designated funds
Strategic Investment Reserve 154,761 - - (154,761) -
General funds
General Funds 637,290 3,762,449 (3,543,322) 150,306 1,006,723
Total unrestricted funds 792,051 3,762,449 (3,543,322) (4,455) 1,006,723
Restricted funds
A Warm Welcome Home - 68,526 (69,239) 713 -
ABLE - 33,661 (33,661) - -
Act!onHeat - 56,814 (56,814) - -
Aurora - 51,626 (51,626) - -
BESN 2021-22 - 7,089 (7,089) - -
BESN 2022-23 - 14,050 (14,050) - -
Bristol Climate Action Fund - 1,789 (3,039) 1,250 -
Bristol Climate Action Fund 2 - 9,656 (9,656) - -
Bristol Heat PumpReady - 10,136 (10,136) - -
Bristol Household Support Grant - 214,225 (214,225) - -
CommunityEnergyfor Everyone - 3,553 (4,301) 748 -
CommunityEnergySupport Network - 108,312 (108,312) - -
EFN Impact extension - 5,774 (5,774) - -
EnergyRedress Caseworker Project - 114,304 (114,304) - -
Food EnergyWater Urban LivingLab (FEWULL) - 323 (323) - -
Futureproof scaling-upin WECA - 76,302 (76,302) - -
Green Infuencers - 17,285 (17,285) - -

p37

Notes to the Statement of Financial Activities [cont]

HeatAbility -
38,615
(38,615)
-
-
-
39,252
(39,252)
-
-
-
41,001
(41,001)
-
-
-
30,315
(30,315)
-
-
-
3,350
(3,350)
-
-
-
187,200
(187,200)
-
-
-
237,451
(237,451)
-
-
-
67,175
(67,175)
-
-
-
5,000
(6,744)
1,744
-
-
71,248
(71,248)
-
-
-
21,747
(21,747)
-
-
-
2,497
(2,497)
-
-
-
1,530
(1,530)
-
-
-
2,095
(2,095)
-
-
-
14,174
(14,174)
-
-
-
201,148
(201,148)
-
-
-
141,790
(141,790)
-
-
-
17,784
(17,784)
-
-
-
4,855
(4,855)
-
-
-
44,140
(44,140)
-
-
-
300
(300)
-
-
-
260,888
(260,888)
-
-
-
14,416
(14,416)
-
-
-
2,241,396
(2,245,851)
4,455
-
792,051
6,003,845
(5,789,173)
-
1,006,723
Merton EnergyMatters
North Somerset caseworker
PLACE
Redress PPM 4
Redress PPM 5
Redress WHAM
Retroft support services
Share the Warmth campaign
Smart and Fair EnergyChoices Tool
Somerset Warm Homes Fund C1
Somerset Warm Homes Fund C3
SSEN EnablingWorks 2021-22 Grants
SupportingMEES
Warm Homes Wiltshire
WCF SurvivingWinter Grant 2021-22 & 2022-23
WHAM (WHF)
WHAM Quartet
WHAM Quartet & Merchant Ventures
Wiltshire CommunityCaseworker
Wiltshire Council Household Support Grant
Wiltshire Installs
Wiltshire Retroft CapacityDevelopment
Total restricted funds
Total of funds

p38

Notes to the Statement of Financial Activities [cont]

Note 17 Statement of funds

Act!onHeat (European Commission Horizon 2020): A multi-partner project offering heat decarbonisation planning services to local authorities across the EU through the use of the THERMOS and Hotmaps tools.

Aurora (European Commission Horizon 2020): A programme to engage citizens across five locations in Europe to reduce their carbon footprints by purchasing shares for a community solar project, using the carbon footprinting app being developed or attending workshops and other project engagement events. CSE is supporting Forest of Dean council to create this community energy project in their area.

Aurora Retrofit Advocacy (The Aurora Trust): The project is increasing our capacity to influence the retrofit agenda. We have funding for proposing solutions to the current barriers to retrofit at national and local government level, providing advice and support to local authorities, community organisations and others, and communicating a vision to decarbonise our housing stock.

Bath and West Community Energy Redress (Bath and West Community Energy): Funding to support BWCE to carry out Futureproof surveys as part of the development of their communitydriven home energy retrofit services.

BESN 2022-23 (Citizens Advice): Energy champions in our advice team supporting fuel poor and vulnerable households to get the best deal from their energy supplier and save money on bills.

Bristol Climate Action Fund 2 (now ‘Community Climate Action’) (Bristol Green Capital

Partnership – as funded by National Lottery Climate Action Fund): a programme supporting community organisations across Bristol to deliver climate action demonstration projects in line with their climate action plans, and increase the voice of disadvantaged communities in Bristol’s strategic climate decision-making.

Bristol Heat Pump Ready (Funding received from DESNZ via Bristol City Council): In-depth engagement with targetted homeowners in Westbury-on-Trym around installing heat pumps. We provided homeowners with heat loss surveys and addressed issues associated heat pump installations.

Bristol Household Support Grant 2023-24 & 2022-23 (Bristol City Council): a project which assists low income households around Bristol with one off payments for their energy and daily living costs through provision of vouchers, provision of winter-warmth packs, boiler replacements or repairs, and funding retrofit assessments and installation of small measures for households.

Bristol HUGs WHAM (Bristol City Leap): Funding to support householders under the Warm Homes Advice and Money (WHAM) project who do not qualify for Home Upgrade Grants.

Mission Net Zero (Innovate UK): Funding for projects addressing non-technical challenges. CSE is working specifically with with three communityled organisations to develop local community climate investment plans and tangible projects that have buy-in from key regional stakeholders, communities and investors.

Community Energy Support Network (Energy Saving Trust – Ofgem Energy Industry Voluntary

Redress Scheme): Empowering community-based organisations (local groups, charities and frontline workers) to deliver energy advice, building capacity through training, ongoing mentoring and support. Over two years, CSE and partners are providing 4,350 vulnerable households across Somerset and Wiltshire with energy advice, through home visits, telephone advice, face-toface advice surgeries, or events.

Energy Outreach Project (Citizens Advice): Delivering energy advice in an outreach setting.

Energy Redress Caseworker Project (Energy Saving Trust – Ofgem Energy Industry Voluntary Redress Scheme): CSE used this fund to employ two caseworkers to meet the increasing demand for energy advice from vulnerable customers and to build up our local volunteering capacity to provide advice alongside advisors.

Energy Redress Fuel Voucher Project (Energy Saving Trust – Ofgem Energy Industry Voluntary Redress Scheme): Funding to distribute 33,267 ppm vouchers across the UK to households struggling to afford their energy costs. Eligible households are those with low incomes, in debt or at risk of becoming in debt. We encourage other organisations supporting clients who may benefit to register as a referral partner and households are also able to refer themselves.

Futureproof Wiltshire LEAD (West of England Combined Authority): Working with Wiltshire and Swindon councils, and with the Rural Communities Energy Network to support homeowners across Wiltshire facing barriers to engage with retrofit. Targeting mainly off-gas and solid wall properties in the Wiltshire area and hard-to-reach households in Swindon.

Green Home Finance – Empower (Parity Projects): Funding to explore the framework and quality assurance needed for high street lenders to back retrofit projects.

Green Influencers (The Ernest Cook Trust): Funding for a Green Mentor to support young people aged 10-14 in Bristol to lead the way as influencers on social action projects in their communities, as part of a national initiative.

HeatAbility (Wales and West Utilities): An energy efficiency advice project across Bath & North East Somerset providing support to disabled people and low-income families to help them to keep warm and afford their energy bills. We also provide advice on how to keep heating systems safe, especially avoiding carbon monoxide risks. We provide information in a range of community settings, on the telephone and through home visits.

Home Visits Advanced (Energy Saving Trust - Ofgem Energy Industry Voluntary Redress Scheme): Funding to provide an energy health checks service to 1,000 vulnerable households across Somerset, West of England, Wiltshire and Swindon.

ICLEI Action Fund 1.1 (ICLEI Action Fund (on behalf of Tides Foundation): Funding to run a workshop for Birmingham council staff and provide data to help promote and target domestic solar PV installations.

Impact Tool Update 2023 (Nottingham City Council on behalf of the Midlands Net Zero Hub): Funding an updated version of the IMPACT tool that can be used by groups across the country to assess their carbon footprints and to

p39

Notes to the Statement of Financial Activities [cont]

Note 17 Statement of funds cont.

develop localised plans to reduce them.

Merton Energy Matters (London Borough of Merton Council): A project working with schools in the London Borough of Merton to teach children about climate change and energy savings.

National Landlord Advice Service (TDS Charitable Foundation): Funding to provide an online advice platform to help landlords understand the Minimum Energy Efficeincy Standards regulations and a National Landlord Advice service in Bristol, Somerset and Birmingham.

North Somerset caseworker (North Somerset Council): Funding for a WHAM caseworker in North Somerset for one year (Aug 22 to July 23), full time, partnering with Citizens Advice and AMS.

North Somerset Covid Recovery WHAM (North Somerset Council): Funding for a WHAM caseworker in North Somerset for one year.

PLACE (Planning Locally to Address the Climate Emergency) (Esmée Fairbairn): A project to build the capability of local civil society, particularly amongst groups who are currently underrepresented, to effectively use the planning system as a key lever of local change by increasing knowledge and understanding of the role of the planning system and how it works and enhancing their ability to influence local planning policy.

Redress WHAM (Energy Saving Trust – Ofgem Energy Industry Voluntary Redress Scheme): Additional capacity for WHAM enabling

continuation of four caseworkers (one hospital based) in Bristol & North Somerset supporting people in fuel poverty who live in the private and owner occupier sector. Project partners are Talking Money, WE Care Home Improvements, Citizens Advice (Bristol and North Somerset) AMS electricals and NBAC.

Retrofit support services (Energy Saving Trust - Ofgem Energy Industry Voluntary Redress Scheme): Increasing the uptake of low and zero carbon household energy retrofit by building capacity and expertise within local, independent advice organisations.

Retrofit West CIC WECA Grant (West of England Combined Authority): Funding provided by the West of England Combined Authority to support the creation of Retrofit West CIC to increase the uptake of domestic retrofit or energysaving measures in the home owner market within Bristol, Bath and South Gloucestershire. Retrofit West provides a free telephone advice service and has created a website offering free, impartial advice to homeowners. Funding is provided to significantly discount surveys to enable householders to identify what they should be installing in their homes. Funding also supports community groups to deliver retrofitting facilitation events, programmes to local communities, and development of the local supply chain.

Smart Energy Choices Tool (Energy Saving Trust - Ofgem Energy Industry Voluntary Redress Scheme): Developing an online tool that can be used by energy advisors across Great Britain to assess the relative benefits of smart energy offers for their clients and provide advice tailored to client-specific household circumstances.

VCSE Energy Efficiency Scheme (Groundwork UK): funding to support VCSE organisations to apply for capital costs for their community building upgrades. Successful organisations are then supported with project planning, risk mitigation and community engagement.

Swindon Boiler Fund (Swindon Borough Council): Supporting low-income home owners in Swindon with a broken heating system with the installation of mains gas boilers, night storage heaters, oil boilers or LPG boiler systems. The support also extends to people with long-term health conditions made worse by the cold as long as they are on a low income.

WCF Surviving Winter Grant 2023-24 and 202223 (Wiltshire Community Foundation): Fund to provide grant payments to vulnerable households in Wiltshire at risk of fuel poverty.

WHAM Quartet (Quartet Community Foundation): Funding to supplement the Energy Redress funding to help with additional staff capacity to assist fuel poor households over the winter period of 2022-23.

WHAM Quartet & Merchant Ventures (Quartet Community Foundation): A fund specifically to target older people on the WHAM project, making sure that they are aware of the Household Support Grant. CSE delivered events, networking with older persons groups in Bristol and casework.

WHAM Redress 2 (Energy Saving Trust - Ofgem Energy Industry Voluntary Redress Scheme): Funding for 1.5 energy advice caseworkers based in Bristol and North Somerset.

Wiltshire Health Inequalities Fund (NHS BANES,

Swindon and Wiltshire): Working with GPs in Wiltshire to support patients with cardiovascular, resporatory or mantal health issues made worse by the cold. CSE is funded to deliver energy advice, fuel support, casework and home visits for low-income households only.

Wiltshire Household Support Fund 4 (Wiltshire Council): Provision of support and financial assistance for Wiltshire households to help cover winter fuel costs and helping to fund gas boiler and electric heating replacements.

Wiltshire Installs (Wiltshire Council): Support for low-income Wiltshire households with low savings to fund for broken heating systems. Householders need to be on a low income and have low savings. Two advice trainees were also funded to help administer the fund and it also provides fuel vouchers.

WOE Lead (West of England Combined Authority): Funding to train and support community groups to lead delivery (including retrofit advice) at green open homes events. The events are a practical and innovative community-led approach to engagement through in-person advice using real-life, local examples where people can see first-hand practical demonstrations of energy efficiency and clean heating measures in local homes like their own.

WWU WHAM (Wales & West Utilities Ltd): Funding to support householders under the WHAM project across Bristol, North Somerset and Bath & North East Somerset. This project is developing new relationships with partners in B&NES, recruiting new caseworkers and funding benefits advice, casework support and a volunteer co-ordinator.

p40

Notes to the Statement of Financial Activities [cont]

Note 18 Statement of funds

Current year
Designated funds
General funds
Restricted funds
Prior year
Designated funds
General funds
Restricted funds		 Balance 1 April 2023 (£)
Income (£)
Expenditure (£)
Net transfers (£)
Balance 31 March 2024 (£)
-
-
-
-
-
1,006,723
4,771,315
(4,230,396)
(450)
1,547,192
-
4,222,421
(4,222,871)
450
-
1,006,723
8,993,736
(8,453,267)
-
1,547,192
Balance at 1 April 2022 (£)
Income (£)
Expenditure (£)
Net transfers (£)
Balance at 31 March 2023 (£)
154,761
-
-
(154,761)
-
637,290
3,762,449
(3,543,322)
150,306
1,006,723
-
2,241,396
(2,245,851)
4,455
-
792,051
6,003,845
(5,789,173)
-
1,006,723

Note 19 Analysis of Group net assets between funds

Current year Unrestricted funds 2024 (£) Total funds 2024 (£)
Fixed assets 189,256 189,256
Current assets 3,518,095 3,518,095
Current liabilities (2,160,159) (2,160,159)
1,547,192 1,547,192
Prior year Unrestricted funds 2023 (£) Total funds 2023 (£)
Fixed assets 196,399 196,399
Current assets 2,572,958 2,572,958
Current liabilities (1,762,634) (1,762,634)
1,006,723 1,006,723

p41

Notes to the Statement of Financial Activities [cont]

Note 20 Pension commitments

The Group operates defined contribution pension schemes. The assets of the schemes are held separately from those of the Group in independently administered funds. The pension cost charge represents contributions payable by the group to the fund and amounted to £298,295 (2023: £243,400).

Contributions totalling £58,674 (2023: £42,476) were payable to the fund at the balance sheet date and are included in creditors.

Note 21 Operating lease commitments

At 31 March 2024, the Group and Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
More than 5 years		 2024 (£)
2023 (£)
157,689
156,788
417,179
569,163
1,802
-
576,669
725,951

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Notes to the Statement of Financial Activities [cont]

Note 22 Related Party Transactions

Peter Capener, a trustee of the charity, is a director of Bath and West Community Energy (BWCE). During the year CSE invoiced BWCE £7,549 (2023: £nil) in relation to supporting BWCE to carry out Futureproof Surveys. CSE has also partnered with BWCE to assist in the delivery of The Green Heritage Homes project, led by BWCE. CSE have invoiced BWCE £14,835 in the year (2023: £nil) in relation to delivering the element focused on engaging landlords of listed homes. There was a balance of £1,361 outstanding at year end (2023: £nil). CSE has partnered with BWCE to deliver the West of England Local Energy Advice Demonstrator (LEAD) project, led by CSE. In the year BWCE invoiced CSE £69,433 in relation to their work towards this project. During the prior year CSE worked with BWCE to deliver our Open Solar project and BWCE invoiced CSE £10,350. At year end £nil (2023: £10,350) was owed to BWCE. Peter was appointed a director of Retrofit West CIC, CSE’s wholly owned subsidiary, on 10 May 2023. During the year, Retrofit West C.I.C provided BWCE with grants totalling £7,500. Peter is on the Board of the Community Energy Association

(England) Limited and during the year we commissioned them to carry out some social research on our behalf totalling £2,916 (2023: £nil), this amount was still outstanding at year end

Ariane Crampton, a trustee of the charity was also an employee of Wiltshire Council until September 2023. During her employment there, Ariane declared her trusteeship on the Council’s register of interests and took no part in procurement decisions that involved CSE.

Andrew Darnton, a trustee of the charity, has a directorship in A D Research & Analysis Limited with which CSE undertook a number of projects in previous years. During the year, the charity invoiced £nil (2023: £12,744) for services provided and £nil (2023: £nil) was outstanding at year-end.

Jane Dennett Thorpe, a trustee of the charity until July 2024, is an employee of Ofgem. During the year the charity invoiced Ofgem for £42,209 (2023: £Nil). £Nil (2023: £Nil) was outstanding at year-end.

William Gillis, is a trustee of the charity is a trustee of British Gas Energy Trust (BGET). In previous years CSE has undertaken research for BGET. During the year the charity invoiced BGET £nil (2023: £15,885). £Nil (2023: £Nil) was outstanding at year-end.

Bill Hull, a trustee of the charity, is a Partner of TLT LLP. During the year, TLT LLP invoiced £28,622 (2023: £5,700) to the charity for legal services provided. £6,017 (2023: £Nil) was outstanding at year-end.

Felicity Jones, a trustee of the charity until October 2023, is an elected director of Bath & West Community Energy (BWCE). See above notes under Peter Capener for our transactions with BWCE.

Simon Roberts, the Chief Executive of the charity until March 2024, was also a nonexecutive director of Thrive Renewables plc until June 2022. During the year the charity invoiced Thrive Renewables £12,608 (2023: £13,185) for setting up a fundraising campaign, and for managing the company’s Community Benefit Fund. £Nil (2022:

£Nil) was outstanding at year-end. Thrive Renewables plc donated £2,000 towards our Share the Warmth campaign (2023: £nil).

Simon Roberts, the Chief Executive of the charity until 14 March 2024, was a non-executive director of Bristol Climate and Nature Partnership CIC (BCNP). Keith Hempshall, CSE’s Director of Local & Community Partnerships took up a position as non-executive director of BCNP from 14 March 2024 when Simon Roberts resigned. The charity made a subscription of £3,500 in the year (2023: £3,500) to support the work of the Partnership. During the year the charity invoiced Bristol Climate and Nature Partnership CIC £12,762 (2023: £26,225) for services provided to the Bristol Community Climate Action project in which CSE is a partner. There was no balance outstanding at year-end.

Note 23 Assets held on behalf of third parties

The charity acts as an agent in administering and distributing funds provided to it for which the charity has no responsibility for their ultimate application and acts on the direct instructions of the funds’ donors. As at 31 March 2024 the charity held funds of £538,663 (2023: £443,139) which are not included in these financial statements but are held in separate bank accounts for the original donor and are returnable on demand.

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St James Court St James Parade Bristol BS1 3LH

0117 934 1400

info@cse.org.uk

www.cse.org.uk

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