Rryistwed nun*er: 02218531 Charity number: 298951 THE NATIONAL ENERGY FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REFY)RT AND FINANCIAL STATEP￿NTs FOR THE YEAR ENDED 31 MARCH 2024 *ADIAQ7CP* 19112R024 COMPANIES HOUSE A27 *232 NATIONAL ENERGY FOUNDATIIJY (A C¢mpny Limited ty Gu•antee Reference and PAlmini5tratsve Detai15 rfthe Charity, its Tru5tws and knlse TfUStees' Report Ind•pendenl Auditoys. R•port on th• FinwKial Stal•nents Staten￿t of Financial Activities 9-12 13 Bala￿￿ Sheet 14-15 16 N(*¢s to the FIna￿la1 Statements 17-30 THE NATIONAL ENERGY FOUNDATIIY4 IA Com￿nY Limited by Guarnntee) REFERENCE ￿)mINIsTRAT￿E t￿TAILs OF THE CHARiff. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AIARCH 2024 J Le•*i$ T Slumpff lakwinled 23 Aw'l 21Y24) MPSL(rn M E IresNJrtt124 May 2024) M Chitty G D M Hott lar¢t4nbY 8 Juty 20241 N Ctrojdry Ireg3wJ 21 ￿j￿errt￿2lT23) Company registered numbaf 02218531 Charity rngist•r¢d nuftknr 298951 Company gttretw AC Vithers (aFPcrfn￿ 13 June 20241 Chief executive officer D E¥￿S Inthwidont auditors Streets Audrt LLP Great ￿)rth Roa MK44 3BZ THE NATIONAL ENERGY FOUNDATItJ4 (A Lm¢¢d ty CA•rnrtO9) Trustees pyesent I￿r annual reF4>t tQ3ellw with the wjjited ffinanoa sl*nEnts of ts Charity frjr the 1 "12023 to 31 21724. The Annual ReFQrt S￿e5 purFrf)se5 of toth a Tru51ees' repxt and a directo rep)rt under conyny W. The TrLtstees ctxffirm thal Ihe Annu* Rep￿1 aThJ finaroal s¢*eftpnts of the ¢harrtatr4e conyany wnth the curMt *atutw r8Julrer￿nts, the r8]uire￿£nts of the charIta￿e corroan￿$ goveming d(￿JrrEnt p￿s￿￿ of Staterwrt of R￿nTrEnd￿j Practi￿ ISORPI applicable to chantw p￿panr￿a th&r ￿>￿Ints in ￿1￿ the Fin￿claI Rerxyting Standard apwlicable in the UK arKI RepukAic of IrdaThd (FRS102) {effedive 1 &Muary 2019). Since the Charity qualif*s as sffrall under s&thon 382 of the coff￿leS 20C6. the Strategic Rewt wuired of medium large e¢mpanie5 urKJer ts Curpanw 2C￿ (Strategic Report arvj Directors, Report) RegulatIc￿S 2013 has been offitt8J. Objectives and activiti•s a. Polici￿ arml obiKbvoS NEPS arbcles of assc￿￿atic￿I rerrrin as thctse uplated C￿ 27th Jure 2018 F￿ndakn {in con9Jltation with Bates. INels ar¥J Bfathwatel. The ot¥'eLts oflhe chanty we." To prorTDte through education. dermrstration and researth, the innovab"ve. efficient aThJ sale use of energy. ard in relab.on to use, the prw$￿ oftrergy in berefio* lo ts public and charrtable and thereby to increase pU￿1C of energy in all ts a¥erts. To prorrote Sust8inatle Lkvekprrent for the benefit of the ty.- the preseNatK)n. oxJnseNatKJn the protec*.￿ of the en￿r￿n￿nI ¥MJ the W￿￿nt use of ￿sour￿. the relief of povety aThJ the Irryovwiwl oftr ￿KIl￿r￿S of life n scoally aTrJ a￿l￿￿1cally disalvartsged C4)rrfrNJnities the prryTr)bon of SL5StaJ'nable rreans dxhieviThJ e￿rMyrIC and werEration To advan￿ ￿ education of the put4ic in stsbi￿ reL*r¥J to sustainab￿ tÈVd0wn￿ the protectson, enhancen*nt and rehabilitsb.on of the enwronn*rt and to kYorr(Jle study arkl researth in such subjects provthd that the useful SLth St￿ are disseninated to the W￿1C at large. Su5ta"nable ￿lopTr￿nt rreans devd¢¥rrenl vknith the rE8J5 of the present wthout ¢>￿￿r¢￿Tri￿rt9 t￿ **ility of fijture g￿ra￿e1)s to tyeet ttw"r n￿$. Charitable n￿an$ chanl*¥le in V•rylh the of Er¥JLaThJ and Wales th* it wll nol i￿JUde any purpr6e vthich is nci chantat4e In *thar￿e wth s.7 of the Charities and Trustee Investnwt Iscotsndl 2C()5. For Il* a￿￿lan￿ of ¢￿trI tr* sfftm of l• goveming the cortstituts of the is the of EnglaThl and Vlaks. In setting ct¥g*ves arKI p*nirvJ for ac*wb* ts Trustees ha4E 94En th cons¥Jeration to general Wid￿ publislwj by the Charity Corrwnissicn relatirrfJ to wbtic tenef¢ indudirKJ the guidano'PutrAic benefit running a charity IPB2)' and taken ￿kn.￿ froxn th&"r Wl th"s(ts B*& WelL8 •x18raitrwarte. Page 2 THE NATIONAL ENERGY FOUNDATI¢J4 (A C(mpdry Lirnited ty Guarantee) TRUSTEES I￿PC￿lT {COKllNUEDI FOR THE YEAR ENDED 31 MARCH 2024 Obi8cli¥8s and activitios FothYètic￿ has urthrt*M a brc4•J r￿e of è*wbey durirg the fina￿JaI year in furtherartt of these NEF ￿loyed a sgnificant ￿(x1 of fiyttw eXp￿￿l￿ thrC￿hOut 202>24, fdlcming gTanl avrards and wnning several goNemffents fvnded FYLYJrarnrr*s. This altY4*d us to ddiver ft￿e services not only to h￿Se1￿lderS ￿rosS core areas but wth ￿gn￿(anI expar￿On across muth of ErvJlaThJ. At the sanE time. NEF invested synificant tirre, re￿u￿ arbj fi￿ar￿al c)JrNr1tn￿nt to maintaining our underfyng bugness Infrastructu￿ introduong Iry￿￿nts to drive fvrttw impax In the cxyiynunity. These indude sekeral additional SUPF*yb've roks in the bjstrws le.g.. Business Inswjht Le*, Partrersh'ps Managersl and enhanrxrEnt to our acces￿bilIty le.g.. ￿r￿juage services). NEF continues to hold heathy reserves rt will use to greater impact in the future. Our c. Public Bonefft The Trustees consder th* the of the (*arity are carried for ￿ wt4ic benefit and in partrjjlar adhere lo the folkw"r4 chan￿￿ wrKX)ses as sd by tharity ccrtmnlss￿ in its ge￿ra1 gUIdar￿ on public benefit The cr relief of F(Nety a. achlevernnts of the Clwity Key athieverrents this irbJuded". A sgnfficant exFans#)n of our fud F¥• alevobon serV￿s". krgetirrfJ residents at risk of cardio- vasjjlar and rewratw diseases in ecld ¢Y dany WOFerties thr￿gh the inncNatNe and expanding "Better frknugng 8ettw Health" pr&Jratrn*. Provi9(￿ d Inflyr￿n and advi￿ swvKes to resdents across rn￿h of Englarmy on affcxdable Rmth a￿j w in vthich tfry rw redLts erwgy LX)nsumptK)n in their lYJnEs", Management of to enatle to ￿ gwl (Alv fvnding that that will a5SiSt them in improwng the ener9y eff￿encY of thar FKoFety, Managin9 Red￿$9 fvndirrfJ to ensuo large aeas of Ea*em c￿nt*S benefit fffjm small nEasures to fvrther inyove the energy effioency within ￿"r horrEs. Managing a Re{1￿$5 ftJn(kd EnErgency V(xKtsr pr(*JraNYre, issuing VOLKWS to regdenls * risk ol imminent dlsc0nrE¢ti¢￿. or suffering frorn invwiate F#•. r¥J as the fffanagir¥J aJent for the third phase of the Lcd Autrwty Ddivery ILAD3) xnjss energy efftierLy irwoverwts to I￿"r hcwrt. Ensuriry custmvs are *KJIb￿ the bay"s of incpTh, and EPC rating. Managing a of irtstalth to urMJertake q￿IrtY in*lls at oJstorYws' h(#￿$. Pè¥3 ThE NATIONAL ENERGY FOUNDATION (A C?￿t FunthrMJ ￿￿rded to the Foundab"M. Financial review charity srent £2,917.228 ￿ helpNr¥J r* throLKJh chantat4e wAMtJes arxl rekyjrted a in the Junts of £2.610.084 in the yew e￿18￿ ￿reh 2024. ￿￿vItieS during the pr were for￿sed very much on expansion of our fud poverty se￿￿ to thousands of VLtlneratAe h(MJsehc4ds. gJPPOrting grr￿h Irom preVI￿S investrrents, expanding the I￿sneSS infrastrL*Xure ana tre ph￿¢4 team to tetter equip wr charity ¢xgoiTrJ expangon. NEF has sgnrf￿nt res*ves of£4.198,%)4. of￿￿th Qrca £3.5m is for projects that will ccffllinue to be d￿l￿ed into 2024 r2025. b. Reser¥•s pokcy It is the pdiy ofthe Found8tvJn to ensure ItrHt have not Leen de$￿a￿ated for a SFeaf purp)sel S￿ul￿ be Thintai￿1 * a of at ￿ £6CQ.C(Q. This Fr)Iw is reli￿*9Y annual ¢. Going ¢on¢em After m*"ng apweyote enquiries. ts Trustees have a rea>xable exp*tthi ttst the Charity has adeqLJate resour￿ lo ¢￿ts'nue in 0￿rat1(￿al ￿ster￿e fcy trE f￿e$eeabIe ftrture. For this reason. they Contin￿ lo adopt the gc4ng con￿rn b￿S in preparirvj firwoal statements. Further details regardir¥J the a*Jpts'on of tr gwg ￿Cern basis can LE fourKI in the ￿￿nting PK4icie5. d. Posl C24. durirrfj the financAal year pJrted, NEF'S operab"ryk4 a￿"￿￿"e5 haNE been rrK4ints1T￿d throwJh several delivery Our hybrK wothing ￿1¢Y has resulled in staff tumover ond c¥Jr bugness devel¥￿nt PiFeline for 2024-25 is healthy ar*J may fijrther ter￿ from cwKtunthes wesentsng therTEe￿eS as part of the UK Govemrrenys 'green recpjverf Strategy. We *e 4s0 fortunate to have spJnrftant reseNes (set èyèinst our operating exFense$) so could ok￿* comf(Mtsbly for 12 mtfft wltKyJI s*JnifKant Ir￿￿ sts)Jld required to so - althO￿h we do mt an￿pate a ne8J to do Ih"s. Page 4 IA C¢)mpany L¥nit•d by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENi)ED 31 MARCH 2024 e. Financial risk manaw*nt 014ectives •nd Oici8s The managerr￿nt Tntstees remew risks arKI milw"￿ xl1vit￿S ￿ a rg3Llar basis, with ￿ U￿ja￿ r register provided by the Chief ExecubNE at tK)ord r￿tiTh3. Al crnt risls ha￿ dear plan5 for rnikn'gation Constitution guaontee, Icnmpany regiStr￿"an number 22185311 aby has rKI wlal, esta￿l$hed to increase wt4ic a*a￿nesS of the efficient and safe use of erw. The Nab"onal Energy F(Wndati¢￿ is ￿lStered as a thantat4e ¢xxrFany h"rruted by guarantee and set up by a ernorandum of Assoaabon. The Foundabon's ojrwt prcgrarffl￿ is desuibed in deta'l in the T￿steeS, ReF(rt. The FOundat￿n is tyyrfemed ty rts PlermTrJum a￿1 ArtsL*5 of ASSots"ati￿. which weo uplated in 2018. The managenwrt Lrf the Charty is the respKThibilty d tr* Tntstees are deLtted aThJ COwOPted under tre The Trustees Ibut not the President Waker. or Patr(m. L• W Archer) form the 8oard of tirectors of Company for the pUrF￿￿ of the C￿r￿"eS and Offi￿ for m￿￿1M of nine conwrrenl yearn. vernbe￿ e* up to 12 Tr￿t&s. are f(ffi￿ty aFw*nt&J at the AnnLd General M￿ling. No Trustee has a I)enef￿ intwest in any ofttE wtal ofthe Fourn1ats.￿ ty its sithtth"aries. ¢. Organisational stnxture and dectsifyb￿￿9 p￿iCi*S The Boanl ofTrustees aJnNnL8teJs the c*•. TTl￿tee$ have •JOp￿ a ne4W on twm ￿th$. t*thich **s th* trustee S￿71 retire from Offi￿ at third annual retirenEnt rrEeb"rKJ l¢Jkw"ng the ayrfftEncerrent of hts or her te￿ of offi￿. Whi15t retirir¥J trustees May be reV￿rtIed, a trustee ￿ has sewl for conseoJtNe teryn5 of Offi￿ S￿￿￿1￿ take trmk from ¢rffi￿. The Chief EXeCL￿"￿t was appJinbJ in 2020 Lry the Tru5tee5 V•iih delegated authorty.lor al In 202>24 the 8oard 0￿st￿l ot. CFLAJR Liz ￿*14￿nI￿1 Ctiar Nl)v 2018) Lews lapFonted 20221 Archie RQ*erX￿ lappJnte¢J Cktlts 20201 Marb"n Chilty lapFoint￿j Febru¥y 2023) Page 5 TrE NATIONAL ENERGY FIXJNDATIC*4 TRUSTEES REPORT (C<%￿NUED) FOR THE YEAR ENDED 31 hWiCH 2024 110rtin Paul Snilh Loff0s IwJr)t￿I Fetswy 2￿3) There have teen changes to trÈ 8corJ thjriry 202&24." Leavers Naveed Cfwjry re>3ne¢J INoNvthr 2￿3) P(xnl of Note Liz M* re￿￿d as Chair of ts Board in W 2024 laftertr* ￿￿1)rts.￿j penDI CDVer￿ in th￿ reFortl. Jaje Lws unaninM)usty wxed in as Ihe w Chair aTrJ ￿1￿. Iweth, sbjn this Trustee Repyt. d. Polklea adopted for irt(kKti￿ and training of Tnstees In order to cuain a wide swead of e>prier￿ arKI 8FVOWWte th"Ils rEcfuTtrrEnt of Trustees is undert*en through three main methc*Js." a peMP￿rtt aJth"sen*nt on the F￿n￿at￿)n'$ vebsite seekiNJ (￿laC1 from interested parties, ajverti￿￿J In sector relat&J nwia arKI thr￿gh Fersc(￿l c£Jrrta¢ts aThJ intrcductions. We antiupate ￿rultr￿1t of rr(*e Trustee5 durirrtj the course oftre [￿t year to ensure our P*)ard remains fo￿￿t. NeN Trustees a￿ yovthd wth an iTKluction featuos a meetiro with thè Char of the Board andlor another memt£r. then with Chief EX￿￿￿"¥e Cwpany Setxdaryl to frdmilwnse therr6elves wth the¢r respxJnsibility"es and l¥ o￿l9atIc￿S lo the corrpany ar*J th&r rc4e as a TrLtstee. Back9round lnfCffmat￿ the Corroony. irKludiThJ a kn"efirvJ cffi the rcle of Trustees arKI respJnsitr*lib"es of Charitable Trustees and other rdevant docunwts. pThKYed by a wrtten 1rtdimtiw￿ px rTwiagerY*nt pergJnnel of the charity. Al Tntstees give of t*￿"r b"frE ITeely and rKJ Trustee re£Ei¥ed any renwnerakn'on in the yew The pay of the seniox stsff s revwod annualty t*"ng into ac£¥)unt ￿rfOrmanCe and, where available. market rates for equivalent rc4es in S￿lar(￿g￿lsatic1}s. f. ReLited pty rekitionships Any connection befv+Een a Trusiee seni¢y nwager of the charity} wth a relevant third paty musl be disdosed to the fvll Bc4ird of Trustees. As a tharity VE thly seek to ccoFErate with olher organisab.ons working to improve the use of energy in ixjikjings indudirKJ 01Fw chanb"es, corrrtxjnity interest C4)mpanies, ic aUthe¥￿.es. ￿ik11r￿J str￿* energy SupF4￿rS. ality Manayw In 2016. BSI a4wwded the FourKlabon ISO gJ)1".2CO8 I￿￿.fi¢3ti￿ for its Qualty fvtsryagenyrt ￿teM,. this was ren&*d •KI to ISO WXJ1.'2015 durirwj 2018 *KI vrds re&uedited in 2019, 2020. 2021, 2022 and 2￿23. Page 6 THE NATIONAL ENERGY FOUNDAMON (A C￿nFanY Limited ty Guarartee TRUSTEES REPORT {CONnNUED FOR THE YEAR ENOED 31 PAARCH 2024 h. Volunte8r5 1 Intems In comnxjn N¥ith rrTht cthaT￿es, the s)rrEts'rres rn*es use of volunteers, inr*JJing providing c¢t2sional cpp*yhJnths fr* Feoe wishirg to gwn exr￿ner￿ in enwronrrEntal sedor. ts far as volwtsws are offered the the to th on digJete lh* V*Duld not be acliev8J by core 5tsff, to prcwide defined outeorrEs that tenefit bjth the charity arKI the vrAunteer. Trustees continue to be very gr*fvl to *1 VAlliro to suwyt the chan.ty on thLS fjags. Funds held as ¢wtodian The Fwndatr'￿ does not hokl fvrkls as a cu#(xJian trLtstee. altwh rt isxs IK>￿ sorre grant fvnds on tehalf of pU￿1C bDJEs, wncapalty kKal authc￿tieS in Er¥Jknd, that are tIEn pahj to householder5 seeking to irnyove their use of er*rgy. on temB 4reed tets*een t￿ chan.ty and the aut￿"ty. Slth fu￿1$ a￿ hel(J in $￿e￿fits￿ dient ￿Ounts, as Tr)t t￿EfiCIalY tr*lLry to the d•. arKI are not in the stat￿nt of Postson. statement of Tntstees. rtspmibilities Tru*ees {￿￿ are alg) ts dir￿￿5 of Charity wrFf6es of clyrpwy l•) a￿ responwble for prying the Tnjstees. ReF*Nt and finarLial Stat￿1$ in xoNda￿e with a￿lC￿LIe law United Kingdcffn kcountsro StarKJarts (Unrted I￿ngd￿n Genedty kcepted kcI￿ntIr0 PrxtKel. Cornp8ny18w requires the Trustees to FYep3re finarKaal staterntnts finanad year. UrKler e4)mrory1*4, tr* Trustees musl not approve the finar(ial slaterrEnts unbess tw are sob"5fied that tw give a true and fair ew of the state of affairs of the Chan"ty and of ts Ir￿orrIr￿ res￿rceS an(J apF41cat￿1 of reswrces, induding its incorre and expenditu￿, th* Fenoj. In F¥epanro these finaTr3* stslerrents, the TnJ5tees are wuired to." seK%t surtable a￿Ul￿"r•j Folicies and then applythem 0￿￿$tenUY.' observe the n￿thC4S and wnciths of the Charibes SORP IFRS 1021. rt*e jLKSarrents and a￿ntiry ests"rr0tes that * ￿9)r￿e •KI p￿dent., ate whether apF4icatAe UK knnb.ng Standards IFRS 102) have teen ftAkxed, subp* to arty m*erial departures disdosed and explained in stalwrEnts', prepare the financial s&iterwts on the wng concem b￿'S unless rt is inapwotxiate to [￿￿￿% that the Chwty IMII (x￿11￿ in tx&nes& The Trustee5 are re5pK1rrib￿ fcf keeFxro knwate aC￿￿nti￿j rerjyds that are suffioent to show explan tre Chantys transa(*"cMs aThJ disd05e ￿th rea50nat4e at any tsrrE the finanry￿ F•)sitson ofthe Charty and en3￿e them to ertsure that the finarrial sl*ffents fAryty Vlith tre Ad 20(￿. They are also resF(Jnsible for safeguarding the assets of the fvrity and hen￿ for taknrg reas(K)abÈ steps fc* the weventi and deteth.on of and othw irrg3ul*ities. Page 7 (A Company Limited ty Guarantee) TRUSTEES REPORT IcoKllNUEOI FOR THE YEAR ENDED 31 ￿RCH 2024 Dis¢1￿u￿ of irrformthn to audittyy Eath ofthe persL￿$ vhK) are Tru*ees b.rre vthen thLS Tru*ees' Repxjt is has I)￿firr￿ tt)at" $0 far a5 the Tntstee is aKare. ttrve is r¥) relgranl wJit inrmtl￿ of y1￿ch ￿ cNAritys auditors are the Trustee ha5 tak￿ all the steps ihat ￿ght to ￿Ve teen taken as a Trus￿ in order to be aware of any relev*t audit Infor￿At￿￿ and lo esta4ish that the thantys aLMlitors we of Ihat inforrrotion. Auditors The audrtors. Streets ALKIit LLP. hwe indp*d tr*"r winingr*ess to c*xb"nue in offKe. Tr* designattsj Trustees 11 prorose a trntion WPFontiro the a￿￿110r$ at a rrEetr"ry ofthe Tr￿tee5. rovèj ty order crfthe rfert￿ ofthe t¢)anl of Trust* sN)n&l t￿ their tel￿ ty. J Lewi5 Chair of Tnjstees Date.. 26 November 2024 P4e8 THE NATI¢Y4AL ENERGY F(XJNDATIC*4 (A CrmfvHny L¥Thied by Guarantso) IN[￿PENDE￿ AUD￿0￿ REPORT TO THE AEIIBERS OF THE NATICW4AL ENERGY FOUNDATlaY Opinion We h￿e autht8I the finanaa state1T￿ of The Nationa Erry Foundation (the 'charityl for the year er*J8 31 March 2024 aJrTwse Statwnwt of FIn￿CIal Almtves, the Ba￿￿ Sheet, the StalerTEnt of Cash Flows and the related r￿. Indudir*J a $uninary of swJniftant ￿￿nts"n9 Foloes. Tr finanaal repthng fram￿th that has teen applied in tsr prepath'on L8 applicable and United Ks'rydorn Accounting Standards, indudirYJ Finanual ReFofj"ng Stsndaol 1￿ 'The Fina￿la1 ReF¥Nting Star*Jard 8PFIic2￿e in the UK and Republic of Irdan(f Iunrted Kin9>>11 Pa>xJnbng Prath￿1. In ow Cyni￿ the fin￿￿1 staterwts.. give a tsue a￿1 fair VI￿ of the state of the ccffj)aty$ affairs as at 31 Marth 2(r24 and of its incorning resour￿ and appltsb)n of re5￿Jr￿. ￿lUdi1￿J lis irrfx¥rE and eyndrture for the year then end￿.. Practice." ar*J Basis for We conducted c￿T aL#Jit in aoxjrdance *?th IntematirThl StsThJarts on AuditsThJ (UK) IISAS IUK)) and applicable law. C*Jr responsbilrt￿s urKler th¢Jse starKtsrds * further desc￿tsed in the Auditors, resFKJnsibilthes for the audrf( of the finanual staterrents secbon of ￿r reFYMt We irk*per*knl dWritab￿ ts)mpany in ar£fjrda th the ethical requirefrents that ¥e rderdnt to our aKlit of ￿ finanoal staterrents in the United lfj"ngdom, induding the Finarrial ReForbng Cc*Jnal's Ethic4 StaThJard. V*E kn fulfilled our other ethical re$￿sibIlitses In act[)rda￿e these requiwprrEnts. We that Ihe axlit e¥thr￿ v* have Obtain￿ is $uffKient an¢J akyopriale to kyomde a basis for our cpni In audibrwJ the finanaal slatwrents. V￿ have C¥￿lud￿j trot the Trustees, ￿ of tre gorvJ C￿￿M basis of accounting in the weparation of the finanaal staterrEnls is apprcyft*. Based on the %%ork ¥￿ have FerfcKrI￿d, have not identif*d any n*rial urKertainties relatiry to events or eonditrons that. iTrJ1Wd￿1IY or collecb"¥ely. may east sgnifunt dcyJbt on the ctharitab￿ companys akn'lity to eonts.nue as a gcAng cthc*m for a per￿ of at kast from ¥*tten the financial stalerrents are auth￿se a￿ resF()ngb￿ for Ihe preparab.on of the finarrial staternents ano for te"r¥J sats"Sfi￿ that give a true aThJ ts"r view, and for suth intemal oThlrDI as the Trust*s determine Is to enatAe of staterrents that awe Iree frcmn material misstaterrEnL vknether due to fraL*J ￿ error. Page 10 TrE NATT(*4AL ENERGY FOLINDATIC*4 (A Compny L￿￿ted ty Guaranta•l INDEPENDEKfAUDITORS' REPol￿T0 TrE MEMBERS OF THE NATIC￿L ENERGY FOUNDATION IC(IYTINUEDI In prewing the finanoal st*wwts. Trust￿ are re5F￿￿tle for asse59ng the Ctharitab￿ companys a￿lIty to ￿n￿.￿ue as a gc4ng (￿￿￿rn. dISd￿r￿J. as ap￿tat￿e. matters related to wing concem using the goiThJ ccncern basis of accojnliry unFess the TrL* inteTrJ to Ih]uid* the tharitatde corrpary or to Authtor5' reS￿nsIbIlitIeS lor the audit of thE fin￿￿1•1 staterrn from m*erial mtsstaterrent, to fra￿1 ¢x error. ar*J to Isgje an ALMJrtor5' ReFrfxt that indude5 our opinion. ReasOna￿e a￿ran￿ is a hKJh ￿1 of a&Surar￿, ixjt is rot a 9uaranlee V)al an audit ttjnduded in ac££1rdan￿ wth ISAS IUKI wll aw de￿t a material rThs**nErt when it e￿Sts. M'sstaterr£nts can arise fraud LY error a￿ ctysKJwe(I rf, ind1MdL￿Ity or in the aggregate, they couhts rea50natty te exFeXed to influence the ec(Jnorri¢ decisions of user5 taken on the ba"s of these finanrial stslerrents. Irwularitses. I￿4[￿jing fra￿. ¥e instarces d w*yryliarKt vkn arKI wulaticA)s We design pro￿ureS in line wth our respjns￿llt￿s, abcNe. to ¢JeterA m*ial ￿$S￿left￿nIS in resFect of irregularib"e5, indudiThJ frdud. The extent to vkn.ch ¥e Ixpat4e of det￿ts'ng irwLblaritbes, inclLMJing fraud is det•'led tdw. induding frwJ arKI nOn-￿rr￿1ar￿e V*ith and rg3ula1ic¥￿, wa5 a5 fo11c￿5.. the engawEnl partw en9Jre(l that the team haj the apwopriate cornpeterKe, capabilitJe5 J¥J th"Ils to identsfy or rwnise r￿-C£￿t1an￿ wth apFAicable laws aTrJ reguLth'on identified and wulatscms applicat4e to the ¢>Jry)ary thrwh discUss￿n5 wth trustees and other rronagerrent we fccJs&J on spec¢fic laws and regulab'ons ctswde￿ may have a direct matwal effe(# on the finantsal staterren15 or the c$Erab.￿S of c[￿panY, indudiro the Companies Acl 20C6, Charits"es Act 2011. safeguardir¥J of VUlnera￿e ￿￿1t$. d* wcéect#Ji. empWnen( laxalw. environnEntal and health and s31ety legi¥ab"cfj. we assessed the exient crf cy￿r￿ the l*oS arJJ wulatK)ns rdentyfie(f atme throthjh m*'ng enquiries of ftwnagen￿t and insFttts"rrfJ legal eorresp￿er￿e'. and identifiejj ar¥J regulatKJns V￿re corrrmnbcaled vknin the a￿311 team regularfy ¥#J the team ￿rr@Ined alert lo Instsnces of non￿￿lIanTr thIDugh￿I the aLwJ We assessed tr* ￿￿K￿"1y.1ty d the Lxytyatys fina￿la1 slatenEnts to Materi￿ rrwssLitmnl. IndLMJing obtsining an understanding of h(yw fraud ff*3ht rxcur. ty". r￿Ing wuirts of rron•3enEnl as to tly ctmsidered there VAS SLbsceptib"lty to fr•Jd their considering the irttemal contrc4s in p*e to nMts"g* risks of fra￿j arKI ncffKXXnpJian￿ wth laws ar reguklions. performed analytrcal iYrxedU￿ to iclenbfy ary UnuSA￿ CK urwedaj tested joumal ￿trieS to ld￿'fy unusual tran￿￿tr￿" assessed wknether judgefrEnts and aSgjrrwtr￿ d&efftinirvJ ts ￿￿nting est¥rHtes set ¢yJt in Note 3 indKab"¥e of Fot&ib"* tM"as." and investigated the rationale tehiTrJ ￿gn￿an1 ry unusu* tr3r6&kns. THE NATICIYAL EhERGY FOUNDATIthY IhlJEPENEJENT AUt)ITCXiS' REP(kgT TO THE kEMBERS OF THE KATIONAL ENERGY FOUNDAMON {C(￿lNtIED) In resp)nse to the risk of irregularitES WKI -OJrOiar￿ la*s and r4u*b"C¥ts, we desigwJ prLKedu ich induded. txrt V&ere l¥rrted to". agwng finarKral st*wrents *xl di*oxJres to urmkrtyry supixytir¥J (krunwtstion.. reading the rrinutes of goverror rre￿"r￿S of tFK6e charged vAth gO¥ema￿., aTrJ enquiring of nwnaprent as to xtual and r*)tenb'al I￿.gat￿M arKI dairr6. A further dexriptson of re¥thsib"IrtEs for the audrt of the finan0¥ *atenptts 1$ krated on the Finanoal Rewrting Counc4's 4*bsrte at w•M.fro .ukJauditcryes rtsibilities. Ths de￿rIptiOn fomis part of our Use of rel￿1 This report is rr&e sddy to the cl4Tilable tjyrwrfs trusiees. as a t4W, in aD>y¢*Ke with Chapter 3 of Pat 16 of the Companies A£t 2C(6. aKIrt V*ryk has LEen urvjertaken that might state to the charitable orynws trustees those rnatt￿5 we a￿ required to state to them in an ALKJtrs' ReF¢*t and for no other purrx)se. To fullest extent FEmtted L7w. rW or assunE re$Fo￿lb11ify lo anycye other than the chariiatAe conw and its rrthitws. as a Ix*ty. for ojr this reFrt or for the ￿'niOnS v Uf LLP Potton House Wyl>)ston Lakes Great North Rcoj bjston eedtsd MK44 3BZ 26 Novwmtw 2024 Page 12 THE NAMONAL ENERGY FOUNDATif*4 (A Ctynpany L¥nited ty Guarantee) STATEhETr￿ OF FINANCIAL AcninTIES (INCORPORATING INCOME AND EXPENDITURE ACCOUND FOR THE YEAR ENDED 31 PMRCH 2024 Totsl funds Tol funds 2023 2024 Donab"ons and Iwies Charitable xb"wb"es InvestrrEnts 4M09J36 4A09.836 1.053A38 1.0S3,438 64,038 .807 1. 151,684 12.251 Total S527.312 4527.312 1,824, 742 Exwmliture on: 1917228 1917,228 1,429,028 1610,084 1610.084 395,714 R•concilialion of funds: Tota funds brought forvord Net rrnverrEnt in frjnds 1.588.12 2.610,084 1.588,120 2.610,OB4 1. 192.406 395,714 Total funds carriod loThv•rd 4.198,204 4.198.204 1,588, 120 The St*merrt of FIna￿al.￿LtivitieS I￿￿Je5 gaiRS ar¥J h)sses"recoJnis&J in Ihe sear. Page 13 THE NATICY4AL ENERGY F¢)UPK)ATIC*4 (A COm￿ry LwThted by ¢knRntee) REGISTERED NUkeE￿. 02218531 AS AT 31 IAARCH 2024 2023 Fixed assets IntsngiL4e assets Tangible assets 25,902 17.929 40,352 14,630 12 43￿31 54,982 Debtors Cash at bank aTrJ in h￿d 13 461,577 1,510,634 3.T￿l.762 4.621288 1.972, 145 Cr8Jitors'. ani)unts falliNJ due 7Ath"n year 14 1466.915) {439,￿7) Net current assets 4.154Jn l.S33, 138 Total assets less cwrgrt Ilabilitles 4,198204 1.588. 120 Total net assets 4.198.204 1,588. 120 Charity funds Restnrled fur¥Ys Unrestrthd furwts 15 15 4.19B.204 1,588,120 Totsl funds 4.198,204 1,588, 120 The enb.ty was entit￿￿ to exeirplKXI frc¥n wlit under sth 477 ofts C(¥￿nIeS kt 2C(fj. The memters have rnt requirerj enlty io obta"n ¥b for tre year in q￿tion in *c£vdance V•ryth seth'on 476 ofthe CornpanEs h£t 2[￿. H(N￿er, an is requirgJ in ￿(l￿￿r￿ wth *xIc￿ 144 Oftt￿ Cwthes kt 2011. The Trustees *vthedge their resP￿1￿411t￿S for rx)rrWyirvJ rqL¥rerrEnts of the wilh re5pecl to ar£ountiThJ recof¢Js and prepaiabon of fifta￿al ststeNEnts. P•3e 14 (A C(#npary Limited 14T Guarantee) REGISTERED hKIPABER: 02218531 &4LANfE SH￿ (CChYnNLIED) AT 31 hWiCH 2024 The finantsal st*n*nts have wepared in acLrrfdèrtt T￿t￿ trt appI￿ats￿ to entities subject to small c£xiyanies regin￿. The finarri￿ staierrents aP￿&Y ar•J fc* iSSL* Lry tre TnLSt*s a￿1 gwed C￿ their tehalf by. J Lewis Chair of Trustees D*e'. 26 Novern￿r 2￿24 Page 15 THE NATIONAL ENERGY FOUNDATICI STATEME￿ OF CASH FLOWS FOR THE YEAR ENDED 31 PAARCH 2024 2024 2023 Net cgsh l￿ed in orEratirKJ aC*vit￿S 1234985 477. 102 Cash from inve5tirwJ activities Dividends. interests rents invesb Puthase of tangiLYe fixed assets 13.251 (16. 743) (180951 Net cash wovKled lryl(used in) investing actlvil 4S143 (4,4921 Change in &75h and &15h oqwvalents in year Cash and cash equlva￿nts al Ihe beginniThJ of 2.280.128 472.610 1,510.634 1,038.024 Cash a￿1 ush oqulvalerts at the end of the y 3.79(1,762. 1.510,634 Tre notes on paJe5 17 to 30 fcffji Fwt of these finan(ial slaterrEnts P&Je 16 THE NATIONAL ENERGY FOihYOATICY4 (A Limiled IY4 (knrantee) NOTES TO TrE FINANCIAL STATEhEKrs FOR THE YEAR ENDED 31 MARCH 2024 The Nab"onèl Er*rgy Fwrtrtsti￿ 1$ a ojrpany liryrted ty guardtee IrttjrpJr8￿d in England and Wales. The registered offtt ts &rte 2.15 cW1￿e Fknse. C¥nft, Blelchley. Milton Key￿. MK3 6DP. Accounting p￿1¢1¢5 11 Basis of weparation alfinancial staten The financial statenEnts have teen pyepared in ￿nce with the Chanties SORP IFRS 1021- ACt￿n0.￿ and RepJbrvJ by Charth"es". staten￿nt of Recomrrendgj Pw&bts applicab￿ to ch8rib.es p￿paring treir ac￿￿nts in Xcor(la￿£ wlh tre Finar¢pl Re￿rts"n9 kndard applicable in the UK and Reput￿￿ of Irdar*J IFRS 1021 leffedThE 1 January 2019). the Fina￿la1 RepJts'r¥J Slandard apKAlcab￿ In t￿e UK arKI RepuLlt of I￿￿A IFRS 1(f21 arKI C*JYpan*s 20(E. The Nat￿n￿ Erwgy FourKJatron rrtets the deffinit￿l ol a puLl¢c benefft entty uThJer FRS 102. Assets and Ik4bil¢t*s a￿ Initsalty recOgn￿ed at h"stc*ttl oxt tt b3rsth)n value unless othenmse stat&J in the rdevant aC￿jnkn.rO Fdry. 22 Incom• Al incorrE is re(rgnis￿l On￿ Charity has entiilernent to irwrrE. it 15 probab￿ that the incoft* V•ill be receNed ar*J the amnt of incowre rec8vatJe ran te ff*asu￿ ￿l0￿y. Inc£n* frcffi grats a￿ rertsJThsed n axordance *ith Ihe terrra ofe&* indmdual grant. Typically, this will be vtsi fwndats.t￿ has ￿1Vered (Xrt￿reS expth1 the agency makn.ng the grant allFwh on a lorger term gran( suth as these from ￿ EuroFean Unin, rt rrw te ba*d on staff "n*. induding an for ¢wwtEads. ￿ cther exFendilure rrBJe. semee. Al Incon￿ is Cla￿'fi&l as unrestritsj ftJThts unless tse is a contrx￿l ￿￿1￿rrent for it to be SFent on a Fwts"culw purpxxe retum&J rf un5Frt in Ca￿ the ir￿C(rE be regarded a5 restrKtt&l. EX￿r￿J1tUre is rects3nised is a to transfer ettjnorric benefft to a third Foty. it is probat4e th* a transfer of ec(xYynic Iwefits will be required in settlement and the arr￿nt of the otlw'on can Le n￿asured reliaty. EyFenditure is dassfjed by acts"vity. The oJsts of xb.wty a￿ maje up of tota of direct costs and 5har&J costs, i￿U￿1[￿j sUPWrt UJ5ts invc4ved in undertakJrvJ eth aclryity. tl"reo* costs alth"butaUe to a single activity are alcraled direttly to th* activity. Shared LThts ￿1¢h C4￿1n"bUte to rtxye than one activity and SUPFQrt costs *thich are attn'txtsble lo a gNJle are appOrt￿ne￿ trets¥een those aets"vit￿S a bass cornstent wth the use of resc¥Jrces. Central staff costs are all￿ated on the basis of lin* SFent, and d￿￿.8*jOn diaw allctat8J on the FUtKJn of the asset's Use. ExttThjitU￿ charrtabk thiti.es is in(￿rr&I cm direc*ty undertakirg the ac*"vib"es vknith further the Charitys obj'ecbves. as as any a$S￿late￿ ￿Pr￿rt Costs. P&3e 17 THE NATIOPiAL ENERGY FOUNDATI(*4 NOTES TO THE FINANflAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountiry pc4i¢ies Icortinued) 2.3 (¢¢nlinu•d Grants payable are chwwl in the ypar vknen the offer is m)Ye except in those cases vknere the offer is conditional. s￿￿ grants bw.rg reo)3nised as eXpendrtU￿ vthen the ovtyjtbons attathing are fulfilled. Grants offered subject to Conditic￿ h•4e not been at year end are noted as comnytnEnL not as exFerKliture. Al exFerKIitu￿ i8 irrJusi4e of irre(>J¥erntrAe VAT. Interest on fvnds held on deF£S"t is lknn reCe￿ab￿ and the anx)unt ￿ be measure rdiabty by the Charity. this is nor￿AnY up)n of the interest paid or payable ty the institution wrth w￿rn tre furKJ5 we deFKsleil. InlarvJitrAe assets are wtalised ar*J reccgni5ed futrJrE ￿On0￿•c tenefits are probable and the cost or valLE of tr* asset Can be rreasure(l ￿tably. InlangiL* assets a￿ lnrt￿ty rects3n1￿ at Lx*L retx•3n￿"on. U￿jer c*)st nK*Yel. inlangible a strnight4ine bag.s over rts ex￿ usefvl lrfe. is mded cn fc41rMifg b3s"$." 25 % Straght line togs 2.6 Tangible fixgd ass•ts •Yl depre¢iati¢n TarKJibk fixed assets are inib"*ty rwnised at Aftw Kwn￿.0rt. the c05t mr>Jel, tarrfJit4e fix&J assets a￿ at o￿t less xcJJmulated dePre￿at￿ any ￿mulat￿l Impairrrenl losses. Al costs Incurr&J io a tsngit4e fixed asset into its intend&J v￿rkn"n9 oMdthn be irKILKled in the frEasuro)Brt of (£6t 0epw.ab"￿ is tharged as to allc(ae tre cx)st c* tarvJilJe fixed assets kn th￿r residual value over their estir￿ted useful lives, the straight4ine rTEIIKYJ. Oewe(J"ab"crt is provided on the frAIDhing b￿S.. 50% per annum 17 Delxws Tr* and other debtc￿S are recognised at the setdement a￿Ount after any trade discount offered. Page 18 THE NATIONAL ENERGY FOUNDATION (A C(xryHny Limited ty Guarantee) NOTES TO THE FINANCIAL STATEMEPWS FOR THE YEAR ENDED 31 IA4RCH 2024 Accountiry pdicies {¢ontinu•d) 18 at bank and in hand Cash at t￿k in harxl indudes and shcrt-term hi9hty liquKI investfrents wth a short maturity of three monttts cy less frorn the date of 4UL%th'cn or openiry of the deF¢￿t tr similar acc4)unL 2.9 Liatiilities and wovisions Liats'lities are recowised 7Athen there is an obl*Jat*Ji at the BaL￿r￿ SW date as a result of a pa* event. rt is ￿0ba￿e that a transfer of eLmyric tenefft V*ill LE requir￿ in settteJTent, and the arTK)unt ofthe Set￿en￿l can be esb"rTrB￿ ￿l8￿4y. abilib.es are recgyJnised at the arrwnl that the CharityanticiF*5 it *ill pay to settle the debt or the amount f( has recaved as •tranf*d the gx¥ts cy seNices it n￿st prow(le. 110 FOnan¢lal Instrwrnrts The onty has finwKaal assets fMw)caal liats"1￿ of a kind that qualify as basic finarKial instrun*nts. Bast finwcial instruft￿ts are initiaty r&xgnise¢l * trans*￿￿ value aThJ subwuenuy w&isured al th•'r settserrent vaue. 2.11 P•nsi0rn5 The Char5ty 0(v*s a defirEd contn.L￿￿Jn Fen￿￿ p£Wre armj tr* pensi￿ charge represents the amounts pwe by the thn.ty lo the fund in resFeX of ￿ year. 112 F￿K1 ac¢cwntiNJ ....... Genernl fvjnds are unrestncted fvr*Js we ￿lIat￿e for use at the distreb.on of Trustees In furtheran￿ of the gervJ 0#&￿"¥e$ of the Charty arvj whth r￿t been deggnata for oth purFcses. Page 19 TtrE NATIONAL ENERGY FOiA4DATI(X4 IA Liftmted ty Guarantee) NOTES TO THE ANANCIAL STATEMENTS FOR THE YEAR ENOED 31 laARCH 2024 Critical a¢countiry estinwtss •KI areas of judgm•rt Esti￿￿teS arKJ I￿grrents we conb"nualty erfauabj are ba*d on hith"c¥ eX[er￿Ce and other . I￿upenses Subscn'ptityis Enterta"ning Bank chwges Gain crf loss on foreign exchange Profftl loss on th'sFosal offi￿1 assets VAT Prowson 1295 66,000 13,285 9,903 278.676 74,6t1 2023 Fees pardble to the thantys a￿lIcK the aJ(trt of the Chwtys annu xounts 9.750 8.150 Page 23 NATIONAL E￿ERGy FOUNDATIC*4 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 h14RCH 2024 2024 2023 WwJes arKJ salaries $￿al s￿Jrity costs 1.656.001 150.018 811,466 76.613 37,045 1,866.6S9 925, 124 Tre aver¥ n￿rter0f kysons erryYW iry ts CP• during Ihe vos as fol 2024 2023 F￿nage￿nI aKI adrrinislrntrjn Proied, saks and techn￿81 staff 72 80 39 2024 2023 mar￿er￿t alminislratK)n Prqect. *les and te￿In￿a staff 70 32 78 38 £60.C(Q 2024 2023 In tre l)and £80,0)1 . £90,1)xJ Key rn￿￿gerr￿nt pe￿nr￿ all tErsrffjs that aKI resP)n&￿"llty ts planning. direclirrfJ and ￿ntrOlli￿ the ￿￿.Vrt￿S of the cfwity. W man¥nEnl pers(￿n￿ a￿ rxinsidered to be the trustees and t￿ senKK nwoJenwt team trLtstees are pa'd for their serv1￿, the total arTr)unt Faid to key nEnager￿t Fersonnd vtas £405.78812023 £386,127). 10. Duriry the year, ￿ Trustees re￿￿ed renwrVat￿ or (Iher twefits (2023. £ML). Page 24 (A Limited ly Guarantee) NOTES TO THE FINANCIAL STATEPIIENTS FOR THE YEAR ENDED 31 PMRCH 2024 10. During yw ermled 31 Vach 2￿24. exrwtses totalling £404 *Aere r￿n￿lse￿￿ OT paid di￿vY to 2 Trustees (2023. £33 to l Tnth). The expe￿eS r￿rt￿r￿d rektsj to tmel Costs for att*)ding trustee board rrEeb"ng. 11. Intangibl• assets W•bsits CLBts At 1 April 2(723 57,000 At 31 Marth 2024 57.000 At 1 ￿ri12023 Charge for the 16.648 14AS0 At 31 Tré￿¢h 2(r24 31,098 At 31 March 2￿24 2S,902 At 31 Math 2023 40,352 Page 25 TrE NATIC*4AL ENERGY FOUNDATIIY4 (A C(wry Lin*1￿ ty Guarnntae> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2024 12. Tangibl• fixed assets Compuier equipment Clxt orvaluali¢ At 1 April 2023 Additions DiskThls 29.823 18.895 (4.8831 At 31 Mèrch 2024 43.835 D•preci*ion At 1 April 2023 Charge fcf the d¢pos*s 15.193 13.719 (3.0061 At 31 March 2Q4 25.906 N¢t Ixx>k vak At 31 March 2￿24 17,929 At 31 2023 74.630 13. 2024 2023 (￿e ￿rythIn ¢Jne year Trade debt 719.365 111,161 218,922 242,589 830,526 461.511 Page 26 THE NATIONAL ENERGY FOUNDATI(￿4 (A CqxnFany Limited lry Guavartee *￿Es TO THE FINANCIPL STATEMEpirs FOR THE YEAR ENOED 31 AW¢CH 2024 14. CrEdito￿. Amowts falling within ￿ year 2024 2023 Tr*Je credit￿3 32.318 39,494 39.571 178.469 181.4T3 Other ¢y8Jitors ¢yuals aThJ deferrwj tr 139.176 226.479 466,915 439,Q07 The charity receives sorrp in aj¥￿￿e, vknith is c£¥#1ib"cnal ￿ ta.ng able to nwi pErforrrHn related crilena. In &klilK)n. rwnbership irwrnE is chargoJ amual basis. At the reporting ¢Jate. the tharity had deferred Incu￿ tclallir¥J £128.397 {2023 £1(&9.117). 1& Ststerrnnl of funds Sta¢enwrt of fun(1g. ¢urY•rt yoar Balance at Tran5fer5 31 P*larch 2024 Balart• at 1 General Fund Nat￿￿al Grid EST projects ¢lher LA proJ'eLts Fixed a55el reserve 926.186 87J52) 3.073.810 1503.919) 972,992 1936.821) 554.324 {460.86n 128.169) 117,0181 651.642 2.988.081 106.801 407.wj 43.831 418.190 70.630 314,392 17,018 1.588.120 5.527J12 12.917228) 4.198.204 P&Je 27 (A CLYnpa￿ Limit•d ty (awartee) NOTES TO THE FINANCI￿ STATEMENTS FOR ThE YEAR ENDED 31 I•ARCH 2024 15. sLiten￿ Off￿d$ I￿ntIn￿lI BalanLX at 31 Ma￿h 2023 Trande Gerval Fund EST wc4 Other L4 pYqec15 Fixed asset reserve l.L7J3.a35 636, 737 31.445 ￿,& 637.707 (￿,713) (511,719) (328,489) (23. 107) (16. T43J 1. 148.116 70,630 314,392 67.346 16.743 1. 192. 1.&24, 742 (1,429,028) 1,588, 120 During the year the tharity has c4>7tinued to w)rk cffl projects fund&1 ty the Er￿gY Saving Trust {Esr) and various Alth￿"￿5. Al thb.es fove teen urKJertaken in accordance wlh the charitys unrestricted, Chantab￿ ctycbves. At the ￿￿￿¥ting d*, the dianty hal recaved a rnmf*r of unreslricled grants, vA)ere the ex￿￿J1tUre will te incurrejs in the fortfrK4yning ￿r IAthilst Ihese we not requiroj to be repjrted as ￿StnC￿j fvnds wth the d)arWs acojjnts, the grants been rerort&Y separatety to dermnstrate the fijnds hekj tr ¥t(ific wrrx)ses at the yw wxt." Energy Sawrvj Trust IESD Winter Hwdship FuThJ £1LE.801 {2023 £70.630) )ry seNces sery1￿5 for aulhr￿"1￿s £407.84912Q3 £314,392) Nab￿al Gnd £2,988,081I2￿23 £418.19)) The chariVs general fuThJ is a free reseNe. avaiLgt4e to te at ￿ di9yebon of ￿ trustees for ary tharitable purpw. PaJe 28 THE NATIONAL ENERGY F(XJNDATION (A C(rfnpany L•miied lry (knrantee) flTES TO THE FINANCI￿ STATEMENTS FOR THE YEAR ENDED 31 IA4RCH 2024 16. Anatysi$ of not assets bet6*en fvnds UnYestri¢ted funds 2024 Total funds Tangib￿ fixed assets Intangitje fixed assets 17.929 25.9)2 4,621,288 (466,915) 17.929 25.902 4,621,288 1466,9151 Creditrys due within orE y Tolal 4,198.204 4.198,204 Total funds 2023 2023 Tangible fixed assets Intangible fixed assets cu(￿nt assets credIt￿S within one year 14.630 40.352 1,972, 145 (439.¢X17) 14, 630 40,352 t,972. 145 (439.007) Total 1,588, 120 7,58&120 Page 29 TrE NAMONAL EPERGY FOUNDATIthY (A Limited trrf Guarnntee) NOTES TO THE HNAPKIAL STATEMENTS FOR THE YEAR ENDED 31 PA4RCH 2024 16. Analysis of n•t assets tettheen fwxts Unrestricted funds 2024 Total funds 2024 Tangitle fixed assets IntavJible fixed assets 17.929 25.￿2 4.621.288 14E6.915} 17,929 25,902 4.621,288 1466,915) Creditors dLE vthin otE y Tolal 4,198,204 4198,204 i￿￿stricted funds 2023 Total fijnds 2023 TangiUe fixed assets Intangible fixed a￿ts 14.630 40.352 1.9T2, 145 (439,007) 14,630 40.352 1.972, 145 (439.007) crgJito￿ due wthin T¢)tal 1.588, 120 1.588, 120 Page 29 THE NATIIJYAL ENERGY FOUNDATI¢J4 IA Lim11￿ ty Cwr4rthe NOTES TO THE FINANCIAL STATEMETrirs FOR THE YEAR ENDED 31 IAARCH 2024 17. 2024 2tr23 Net incTh for las rv Stalwwt of Finarmia Pdiwtse5) 2.610,084 395, 714 tWiaty"on tharge5 Arnorb"sab"on charges "viderwjs, interests and fmm invesln Loss on the sale of fixed assets DecreaseJlincTea5el in dBbtcrfs Ir￿r￿￿e1(d￿) in cT&JitOf5 13,719 14,450 (64,038 8,657 14,4 (12,251) 1369,015) 27.908 8T, 120 (q6,588) Net cash pr(y4id8d lry operating activities 2.234.985 477,102 18. Analysi5 of cash and cash eqw¥alents 2024 2023 Cash in hand 3,790.762 1,510.634 Totsl cash aNI ush equi¥akn*s 3.790,762 1,510,634 19. Analys1$ ol in net debt At 1 Awil At 31 March 2024 Cash at bank in harwj I￿10.634 2.2￿.128 3.790.762 1.510.634 2.280.128 3,790,762 R•lated party trantsa¢ti￿ The Charity has nol entered into ary related paty tranS￿tion during the year, r￿r are there any outstanding balan￿ crknv¥J kets￿en reL*d wties arKI the Chanty at 31 Marth 2024. Page 30