Reglstered no: Nl 047950
ACTION RENEWABLES
(A COMPANY UMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Contsnts
Page8
Directors and advisers
Dire¢tors' report
Independent auditors, report
8-11
Consolidated statement of financial activtties
12
Charity 8tatement of financial activities
13
Consolidated balance sheet
14
Charity balance sheet
15
Consolidated statement of cash flows
16
Notes to the financlal statements
17- 33

ACTION RENEWABLES
IA COMPANY UMITEO BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 h1ARCH 2023
DIRECTORS AND ADVISERS
Executlve Director8
Terence Waugh
Irene Robinson
Chalrman
stephen Harper
Non-Executlv• Dlrectors
Gerard Hodgkinson
John Heaslip
Stephen Harper
Katherine Noble
Andrew Webb
David Flinn
Michael Scott (Appointed 23 September 2022)
Secretsry
Mark Compston
Reglstered Offlce
Block C Unit 1
Boucher Business Studios
Gl8nmachan Place
Belfast
BT12 6QH
Bankers
First Trust Bank
Donegall Square North
Belfast
BT15GB
Sollcltorn
A&L Goodbody
4246 Fountain streot
Belfast
BT15EF

AcnoN RENEWABLES
(A COMPANY UMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 InARCH 2023
DIRECTORS AND ADVISERS (Cont'd)
Reglstsred Audltors
Hart)inson Mulholland
Centrepoint
24 Ormeau Avenue
Belfast
BT2 8HS
Company Reglstratlon Number
N1047950
Charlty Regl8tratlon NuM￿r
100806

ACTIOM REMEWABLES
IA COMPANY LIPIITED BY GUARANTEE
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
DIRECTORS, REPORT
The trustees, who are also the directors of the company, present their annual directors, report together with the
consolidated financial statements of the charity and its subsidiary for the year ended 31 St March 2023. The
directors have adopted the provisions of the Companies Act 2006 the Statement of Recommended Practice
(SORP) °Accounting and Reporting by Charib"es" effective in January 2015 and FRS 102 'The Financial Reporting
Standard Applicable in UK and Republic of Ireland. in preparing the annual report and financial statements of the
charity.
Structure
Action Renewables is a private company, limited by guarantee and with charitable status. We operate under an
independent Board of Non-Ex8CUtive Directors, a Chaimian, and bNo Executive Directors. The Chief Executive
is responsible to the Board for the management of the organisation on an On￿oing basis. The Chief Executive
and the Chief Operations Officer deal with the daily administration of programmes and services. We operate from
Belfast throughout Northem Ireland, the rest of the UK, Ireland, and in Europe.
The charity has established a wholty owned subsidiary, Action Renewables Energy Trading Limited {ARET), a
company Limited by shares. The trading surplus of this company, which rADMl&s oxtsuftarry on renewable
energy and trades renewable electricity and its derivatives, is donated to Action Renewables. On 7 December
2022, ARES Market Services Limited was incorporated, which is a Subsidiary of Action Renewables Energy
Tradlng Limited,
In Sine wlth good governance. Action Renewables and Actlon Renewables Energy Trading Limited have adopted
a Resource Sharing Agreement, statement of Reserved Matters and Deed of Covenant between the legal
entities.
Strategy
Action Renewables is wldely recognised as one of the forernost authorities on renewable energy in Northern
Ireland. Its charitable objectives are.. Advance to the benefit of the public, the protection and improvement of the
environment, through the promotion of energy efficiency and renewable energy; Advance the education of the
public In energy efficiency and renewable energy; Improve the quality and standards of renew8ble energy
provision, by promoting quality assurance schemes and delivering qualty assurance services.
Athon Renewables works directly with those who are actively seeking to install renewable technologies both at
the largest scale - developers of wind farms, solar, biomass and other major infrastructure projects. and those
who wish to install on the smallest scale, for example on a new build or existing dwelling. This involves Action
Renewables in a detailed interaction with a full range of parts-es including developers, constructors, consultants,
installers, customers, suppliers and the various bodies such as planners and building control officers who work
to bring these applications forward daily. It has never been more important that we continue our on-going work
to remove the barriers that hinder the rate of renewable energy penetration.
Action Renewables, strategy has continued to be, to work in areas in line with its staff cornpeten￿, expertise and
experience. AddIticffla￿, the Org￿lsaI1c￿ womotes staff deVelO￿￿tt arKI f&ilrtates staff to explore arKI develop new
servw within ts areas of energy. tre environment and climate change.
Flnanclal revl8w and rlsk development
During the year the company received unrestricted income of £2,343,514 and incurred expenditure of £1.543,110
and losses on investments of £61,325. This resulted in a surplus of £739,179 compared to a surplus of £556,093
in the previous year. The unrestricted reSe￿8S increased from £3,272,457. at 3151 March 2022 to £4,011,636. at
31 St March 2023. The charity'5 operations expose it to a variety of financial risks that include the adverse economlc
climate.
The results for the year include the consolidated results for Action Renewables and Action Renewables Energy
Trading Limited its trading subsidiary as required urKler The Statement of Recommended Practice (SORP)

ACTION RENEWABLES
{A COMPANY UMITED BY GUARANTEE
ANNUAL REPORT
FOR THE YEAR ENDED 31 PIARCH 2023
DIRECTORS. REPORT CONT,
"Accounting and Reporting by Charities" effective in January 2015 and FRS 102 "The Financial Reporting Standard
Applicable in UK and Republic of Ireland. The individual company results have been included on page 12.
The Board of Directors have responsibility in monitoring the financial risk of the company, and during the year.
met regulady to address key business risks. The organisations. Risk Assessment is a standing agenda item at
each Action Renewables Board meeting. The Board of Directors has assessed the major risks to which the charty
is exposed, in particular those related to the operations and finances of the organisation. The Directors are
satisfied that systems are in pla￿ to mitigate exposure to major risks.
Action Renewables is restricted to operate within the principles, set out in accordance with its charitable objectives
in the Articles of Association.
Golng concern
We refer to note 1, fundamental accounting concept note, where the directors have had to consider the impact of
changing market conditions and seeking new service opportunities.
The Management Team has prepared a business plan and projections to 1st April 2024 showing that provlded the
key assumptions are met, the company will be able to meet its liabilitie5 as they fall due.
The directors believe that the assumptions on which the projections have been based are achievable and that it is
therefore appropriate to prepare the financial statements on a going concern basis. The Management Team uses
Balanced Score Card throughout the year to review progress against the business plan.
Reserves policy
It is the charity's policy to retain a level of available resources which meets the needs of the organisation. The Board
of Trustees agreed that Action Renewables should aim to have a reserve of 12 months operating costs plus wind-up
costs. Reserves should be increased at a similar rate to operational costs on an annual basis, and consistent with
the charty's overall financial position and its na6d to maintain and develop its charitable activitie8.
Plans for future perlods and charltable actlvities
Our Vlslon.. To support a world which recognises the Climate emergency and to take measures to prevent and
mitigate against those impacts, through using renewable energy, energy efficiency, renewable transport and
renewable products.
Our Mlsslon: Action Renewables operates primarily in Northem Ireland, but also in G8 and Rol. Our customers are
renewable energy generators, users and suppliers. V¥thile the charity is primarily concemed with mitigating climate
change and promoting renewable energy, the trading subsidiary (ARET) is concerned with growing the business to
facilitate the charity's activities. Our overall goal is to facilitate green energy production and use, and to educate and
influence in terms of renewable energy and policy development.
Our Purpose: Advocate, Intervene and Support with regard to climate change and taking measures to mitigate
against it, through using renewable energy, energy efficiency, renewable transport and renewable products is at the
heart of everything we do.
Action Renewables collaborates with academic and research establishments and responds to consultations
regarding opportunities for reducing energy consumption, energy efficiency, renewable transport, renewable
products and smarter applications of renewable energy.
As well as charitable activities such as the Action Renewable Energy Association {AREA), Action Renewables
provides support, both financial and 'in-kind' support to projects which align with its charitable objectives. We promote
the need for climate change mitigation and the adoption of renewable energy by a range of consumer groups.

ACTION RENEWABLES
(A COMPANY UMITED BY GUARANTEE)
AMNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
DIRECTORS, REPORT CONT,
Values
In February 2022, the Action Renewables Executive Team engaged staff in faalitated sessions to discuss and
develop new company values. Values training was delivered, and staff involvement in workshops resulted in the
following values being agreed.. Sustainable, Collaboration, Integrity, Progressive. Additional activities will reinforce
these values with staff to result in a cohesive company culture which is respectful of these values and productive for
the organisation.
Be￿een April 2022 and March 2023, we..
Continued to operate the Charity PV Programme to support not-for-profit organisations in reducing their energy
costs and C02 emissions by offering low-cost electricity from renewable generalion. This programme generated
49,558kWh of renewable electricity to 20 successful applicants, saving these beneficiaries £6,864 and offset 18
tonnes of carbon.
Promoted the Charity PV programme to community groups, social enterprises, amateur sport clubs and non-
profit organisations.
Action Renewables Energy Association (AREA) continued to engage with industry and led the publication of an
Industry leading report to promote renewable gas opportunities.
AREA facilitated a response to the Department for the Economy's Call for Evidence and the Energy Strategy
Consultation response.
AREA sits on the HECA panel (Home Energy Conservation Authority> and contributes to dis¢ussions on energy
efficiency and fuel poverty.
In line with its Charitable Objectives, Action Renewables sponsored events such as the Energy Institute Dinner
the Young Energy Professional of the Year Award.
Action Renewables strengthened its relationship with Children of the Nations, {COTN) through its local contacts
in Northern Ireland.
Action Renewables also provided additional funding to Mulanje Mission Hospital in Southern Malawi to conduct
Improvements to their energy security and on-site generation. This hospital serves a population of 86,000. Action
Renewables committed to send staff to Malawi to in 2023 to witness the benefft of its funding within the
communty it seNed.
We parts"cipate in transnational European Interreg Projects induding:
Action Renewables continued to support EU projects including providing an independent project evaluation for
Dwr Uisce (Distributing our Water Resources.. Utilising Integrated, Smart and low-carbon Energy) which was
part funded by the European Regional Development Fund (ERDF) through the Ireland Wales Co-operation
programme 2014-2020.
REDAWN (Reducing Energy Dependency In Atlantic Area Water Netsyorks) which aims to foster the adoption of
hydropower energy recovery technology in built water networks in the Atlantic Area (A4).
SEAFUEL (Sustainable integration of renewable fuels in local transportation) which aims to make use the
renewable resources across the Atlantic Area to power the local transport fleet and support the shift towards a
low-carbon economy. (Project extended until August 2023).

ACTION RENEWA8LÉS
(A COhlPANY UMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 ￿RCH 2023
DIRECTORS, REPORT CONT.
Statemènt of directors. responsibilities
The directors who served during the year are shown on page 1 of the Annual Report.
The directors are responsible for preparing the directors. report and the financial statements in accordance with
applicable law and regul81ions.
Company law raquires the directors to prepare financial statements for each financial year. Under that law the
directors have elected to prepare the financial statements in acGordancewilh United Kingdom Generally A¢¢epted
Accounting Practice {United Kingdom Accounting Standards and applicable law). Under company law the
directors must nol approv8 the financial statements unless thay are satisfied that they give a true and fair view of
the state of affairs of the company and of the profrt or loss of Ihe company for that perlod. In preparing those
financial statements. the directors are required to:
Select suitable accounting pollcies and then apply them consistanttr.
observe the methods and principles in charities SORP;
make judgements and estimates that are reasonable and prudent",
state whether applicable UK accounting standards have been followed, subjact to any matarial
departures disclosed and explained in the fjnancial statements;
prepare the financial statements on th¢ going conG•rn basis unle88 it Is Inappropriate to presume that
the Company will continue in business.
The directors are responsible for keeping pr<)per accountin9 records that disdo$8 wlth reasonable accuracy at
any time the financial posrlion of the charity and to enable them to ensu￿ that the financial staternents comply
with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of infomiatlon to auditors
So far a8 each person who was a director at the dat8 of approving this report is aware:
there is no relevant audil infomiation. being informatbn needed by the auditor in connection with preparlng
its report, of which the auditor is unawara.
the trustees having made enquiries of fellow dlrector¥ and th• group's auditor that they ought to hav•
Individually taken, have taken all the sleps that helshe Is obliged to tske as a director in order to make
themselves aware of any relevant audit inlomalion and to establish that the auditor Is aware of that
information.
Small ¢ompany •x•mptlon
This report has been prepared in accordance with thg sk)ecial provistons relating to eompgnies subject tothe small
companies regime wtthin Part 15 of the Companie3 Acl 2006.
Audltors
A resolution is to be proposed at the Annual General Meeting for Mappolntment of Harbinson Mulholland as
auditor of the Company.
By order of the Board
M Compston
Secretary

ACTION RENEWABLES
(A COMPANY UMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ACTION RENEWABLES
Oplnlon
We have audited the financial statements of Action Renewables for the year ended 31 March 2023 whlch comprise
the Consolidated Statement of Financial Activities, (including Income and Expenditure account), the Consolidated
Balan￿ Sheet, the parent charity company Balance Sheet, the Consolidated Statement of Cash Flows notes to the
financial statements, 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 FRS
102 The Financi81 Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the group's and the parent companvs charitable affairs as at 31
March 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for Oplnion
We conducted our audit in accordance wlth Intemational Standards on Audltlng (UK) (ISAS (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditoffs responsibilities for the audit of the
financial statements section of our report. We are independent of the company in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard,
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a b88is for our opinion.
Concluslons relatlng to golng concern
We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report
to you were:
the directors, use of the going concem basis of accounting in the preparatlon of the financial statements Is not
approprlate., or
the directors have not disclosed in the financial statements any identified material uncertainties thal may cast
slgnificant doubt about the group's or the parent company's ability to contlnue to adopt the going concem basis
of accounting for a period of at least ￿e1ve months from the date when the financial statements are authorised
for issue.
Other Informatlon
The other information comprises the information included in the Directors, Report, other than the financial statements
and our auditor's report thereon. The directors are responsible for the other information. Our opinion on the financial
statements does not cover the other information and, except to the extent otheThvise explicitly stated in our report, we
do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other infomiation and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in 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 there is a material
misstatement in the financial statements or a material misstatement of the other infomiation. If, based on the work
we have perfomied, we conclude that there is a material misstatement of this other infO￿natiOn. we are required to
report that fact.
We have nothing to report in this regard.

ACTION RENEWABLES
(A COMPANY UMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ACTION RENEWABLES Icont'd)
Opinion on other matter prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of our audit..
the information given in the Strategic Report and the Directors. Report for the financial year for which the
financial ststements are prepared is consistent with the financial ststem8nts,' and
the Strategic Report and the Directors, Report have been prepa￿d in accordance with applicable legal
requirements.
Matters on whlch we are requlred to report by exceptlon
In the light ofthe knowledge and understsnding of the Charitable company and its environment obtained in the course
of the audit, we have not identified material misstatements in the Strategic Report and the Directors. Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to
you rf, in our opinion:
adequate accounting records have not been kept or returns adequate for our audlt have not been received
from branches not visited by us-, or
the financial statements are not in agroement with the accounting records and returns; or
certain disclosures of directors. remuneration 8pecffied by law are not made; or
we have not received all the information and explanations require for our audit
Matters on whlch we are requlred to report by exceptlon
We have nothing to report in respect of the following matters vthere the Companies Act 2006 requires us to report to
you rf, in our opinion:
Responslbllftle8 of dlrectors
As explained more fully in the Directors, Responsibilities Statement, the directors are responsible for the preparatlon
of the financlal statements and for being satisfied that they give a true and fair view, and for such internal control as
the directors determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue
as a going concern, disdosing, as applicable, matters related to going concem and using the going concem basis of
accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic
alternative but to do so.
Audltor's responslbllltles for the audlt of the flnancial ststements
Our objectives are to obtain reasonable assurance about whether the financial statements as a v4hole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assuran￿, 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 finanaal statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: http:Ilwhw.frc.org.ukJauditorsresponsibilities. This description forms part of our
auditorfs report.

ACTION RENEWA8LES
IA COMPANY UMITED BY GUARANTEE}
AMNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ACTION RENEWABLES (Cont'd)
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-complian￿ with laws and regulations, was as foll0v￿.
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance wrth applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors andlor
senior management, and from our commercial knowledge and experience of the sector:
14Ve focused on specific laws and regulations which we considered may have a direct material effect on the financial
statements or the operations of the company, including Companies Act 2006, taxation legislation, data protection,
anti-bribery, employment, environmentsl and heatth and safety legislation
we assessed the extent of compllance with the laws and regulations identified above through making
enqulries of management and Inspecting legal correspondence; and
Identified laws and regulatlons were communicated within the audit team regularly and the team remained
alert to Instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtalning
an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, thelr
knowledge of actual, suspected and alleged fraud., and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations;
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions.,
assessed whether judgements and assumptions made In detemiining the accounting estimates set out In
Note 2 were indicative of potential bias,. and
investigated the rationale behind significant or unusual transactions:
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures
vthich included, but were not limited to:
agreeirrfJ financial statement disdosures to underlying supporting documentation.,
reading the minutes of meetings of those charged with governance.,
enquiring of management as to actual and potential litigation and claims. and
reviewing correspondence with HMRC and the company's legal advisors,.
There are inherent limitations in our audit procedures described above. The more removed that lav￿ and
regulations are from financi81 transactions, the less likely it is that we would become aware of non-complian￿.
Auditing standards also limit the audit procedures required to identlfy non-complian￿ with laws and regulations to
enquiry of the director5 and other management and the inspection of regulatory and legal correspondence. if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may
involve deliberate concealment or collusion.

ACTION RENEWABLES
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ACTION RENEWA8LES Icont'd)
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 parent charitable
company's members those matters we are required to state to them in an auditovs 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 company
and the charitable company's members as 8 body, for our audit work, for this report, or for the opinions we have
formed.
Angela
Igan FCA (Senlor Statu
ory Audltorl
For and on behalf of Harblnson Mulholland.
Chartered Accountsnts and Statutory Audltors
Centrepoint
24 Omeau Avenue
Belfast
BT2 8HS
Date.....
2.1.15123..
10

ACTION RENEWABLES
{A COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING SUMMARY OF INCOME AND
EXPENDITURE)
2023
2022
Notes
Unrestricted Restricted
Unrestricted
Restricted
Funds
Funds
Tot81
Funds
Funds
Total
Income from:
Charitable activities
38,705
38,705
66,111
66,111
Other trading
activities.
1,832,339
2,304,809
2,304,809
1,832,339
Government grant
7,313
7,313
Total
2,343,514
2,343,514
1,905,763
1.905,763
Expendlture on:
Charitable activitie8
1,314,537
1.314,537
1,208,172
1.208,172
Raising funds:
Commercial trading
activits'es
174,131
174,131
228,473
228,473
Totsi
1,543,010
1,543,010
1,382,303
1,382,303
Net {108ses)Igaln$
on Investments
(61,325)
(61,325)
32,633
32,633
Net movoment In
funds
739,179
739,179
556,093
556,093
Total funds brought
forward at 1 April
2022
3,272,457
3,272,457
2,716,364
2,716,364
Total funds
carrled forward at
31 March 2023
4,011,836
4,011,636
3.272,457
3,272,457
'other trading activities Includes commission eamed on revenue of £53,097,65312022". £47,707,283)
The ststemerrt of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 16 to 31 form part of these accounts.

ACTION RENEWABLES
(A COMPANY UMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
CHARITY STATEMENT OF FINANCIAL ACTMTIES (INCLUDING SUMMARY OF INCOME AND
EXPENDITURE)
2023
2022
Unrestricted Restricted
Unrestricted Restricted
Funds
Funds
Total
Funds
Funds
Totsl
Income from:
Charitable activities
828,771
828,771
939,248
939,248
Donatlons
1,286,270
1,286,270
785,071
785,071
Government grant
7,313
7,313
Total
2,115,041
2,115,041
1,731.632
1,731,632
Expendlture on:
Charitable activities
1,314,537
1,314,537
1,208,172
1,208,172
Total
1,314,537
1,314,537
1,208,172
1,208,172
Net Ilosses)Igaln8 on
Investments
{61,325)
(61,325)
32,633
32,633
Net movement In
funds
739,179
556,093
556,093
739,179
Total funds brought
forward at 1 April 2022
3,272,457
3,272.457
2.716,364
2,716,364
Total funds carrled
fonNard at 31 March
2023
4,011,636
4.011,836
3,272,457
3.272.457
The statement of financial activities indudes all gains and losses recognised in the year.
All income and expendiiure derives from continuing activities.
The notes on pages 16 to 31 fomi part of these accounts.
12

ACTrON RENEWABLES
IA CQMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR TrIE YEAR ENDED 31 MARCH 2023
CONSOLIDATEO BALANCE SHEET
Notes
2023
2022
Flxed assets
Tangib￿ assets
12
282,796
72.184
Investments
13
1,111.883
1,173.206
1,394,879
1,245.390
Current assets
Work In progr•¥s
18,277
7.430
Debtors
14
594,391
223.168
Cash at bank and In hand
7,382,087
6,009,264
7,994,755
6,239,860
c￿dItOrS.. amounts falllng du• wlthin one year
15
(5,377,798)
(4,212,793)
Net current assgts
2,616,957
2,027,067
Net assets less current Ilabllftles
4,011.636
3,272,457
Cr•dftor8: due after one year
N•t Assets
4,011.636
3.272,457
Income fund$
Unrestricted funds
16
4.011.636
3.272,457
Totsl fundg
4,011,636
3.272,457
The directors have prepared group accounts in accordance wlth sectlon 398 of the Companies Act 2008. These
financial statements heve been prepared in accordance with the special provlsions in Part 15 of the Companies Act
2006 applicable to companies subject to the small ¢ompanie5' regime.
S Harper
ès
T Waugh
Dlrector
Chaimian
Dlrector
CEO
ei.*.z
Date .
Company registration number: N1047950
The notes on pages 16 to 31 form part of these accounts.
13

ACTION RENEWABLES
IA COMPANY LIMITEO ay GUARANTEE)
ANNUAL REPORT
FOR THÉ YEAR ENDED 31 MARCH 2023
CHARITY BALANCE SHEET
Note5
2023
2022
Flxed assets
Tangible assets
12
371
2.429
Investments
13
981.881
1.023,206
962,252
1,025.635
Current assets
Debtors
14
2.648,666
1.869,414
Cash at bank and in hand
594,082
SOS,801
3.242,748
2.375,215
Creditors: amounts falling due one year
15
(193,367)
(128,393)
Not current assots
3,1)49,381
2,246,822
Total assets less current Ilablllti
4.011,633
3,272,457
Total assets less liabilities
4.011,833
3,272,457
Funds
Unrestricted funds
4,011.633
3,272.457
Total funds
4.011,633
3,272.457
The directors have prepared group accounts in accordance with section 398 of the Companies Act 2006. These
financial statements have been prepared in accordance with the special provisions in Part 15 of the Companies Act
2006 applicable to companies subject to tha small companles. regime.
S Harper
Director
Chaimiart
Data...g ]..- t . 21
T Waugh
Director
CEO
Datè ..
Company registration number: N1047950
The notes on page¥ 16 to 31 form part of these accounts
14

ACTION RENEWABLES
IA COMPANY LIMITED BY GUARAP4TEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
CONSOLIDATED STATEMENT OF CASH FLOWS
Notes
2023
2022
Cash flows from operatlng
actlvltles
Cash (used in) Igenerated from
20
1,623,002
4,037,513
operations
Investlng actlvltles
Purchase of unquoted investments
(150,000)
Purchase of quoted Investments
(500,000)
Purchase of tanglble fixed assets
(250,179)
(39,959)
Interest receFved
Net Used In Investlng actlvltl88
(250,179)
(689,959)
Net Increase l(decroa8e) In cash and
cash equlvalents
1,372,823
3,353,554
Cash and cash equivalents of beglnning
of year
2.655,710
6,009,264
Cash and cash equlvalents at end of
year
7,382,087
6,009.264
Relatlng to:
Bank balances and short term deposits
7,382,087
6,009,264
15

ACTION RENEWABLES
IA COMPANY UMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS
1. Fundamental accountlng concept
The directors have prepared the financial statements on the going concern basis which assumes that the company
will continue in operational existence for the foreseeable future. The directors have had to consider the impact of
changing market conditions and seeking new service opportunities.
Management have prepared a business plan and projections to 31 March 2024 which show that provided the key
assumptions are met, the company will be able to meet its liabilities as they fall due.
The directors believe that the assumptions on which the projections have been based are achievable and that it is
therefore appropriate to prepare the financial statements on a going concern basis. However, should there be a
significant underachievement of the projections the going concern basis would be invalid and adjustments would
have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities which
may arise and to reclassify fixed assets as current assets.
2. Accountlng polici8S
Basis of preparatlon
The financlal ststements have been prepared in accordance with 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 {FRS102) (effective 1 January 2015) - (Charities SORP
(FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the
Companies Act 2006. The principal accounting policies, judgements and key sources of estimation uncertainly are
set out below.
The trustees consider that these accounting policies are suitable, have been consistentty applied and are supported
by reasonable and prudent judgment and estimates.
Action Renewables meets the definition of a public benefit entity under FRS 102. The financial statements are
prepared in accordance with the historical cost convention.
Golng ConGem
There have been no material risks impactlng going concem in the year. Therefore, these accounts are prepared on
a going concem basis.
Group financial statements
These financial ststements consolidate the results of the Charity and its wholly owned subsidiaries Action
Renewables Energy Trading Limited and Zevon Energy Limited on a line-by-line basis. A separate Ststement of
Financial Acttvities and Income and Expenditure Accounts for the Charity alone has been presented on page 12.
Incomlng resources
Income from charltable actlvltles
Income from charitable activities includes income earned from both the supply of goods and services under contractual
arrangements and from perfonnance related grants which have conditions that specify the provision of particular goods
and services. Revenue grants are credited to incoming resources on the earlier ofwhen they are received or when they
are receivable, unless they relate to a specified future period, in vthich case they are deferred.
Other trading actlvltl
This includes income receivable for servi￿5 provided, income from activities undertaken to raise funds to undertake
charitable activities, and incc*ne from the operation of subsidiary companyAction Renewables Energy Trading Limited,
this income is recognis8d when entitlement has occurred.
16

ACTIOM RENEWABLES
(A COMPAMY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDEO 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
2. Accountlng policies (Cont'd)
Other Income
This indudes income from all other sources are induded in full in the Statement of Financial Activities when
receivable.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs
related to the category. INhere costs cannot be directly attribuled to particular headings they have been allocated to
activities on a basis consistent with use of the resources. Staff cosls and overhead expenses are allocaled to activities
on the basis of staff time spent on those activities.
Govenmnce costs
Governance costs include those incurred in the govemance of its assets which are associated ¥Mth constitutional and
statuiory requirements.
Irrecoverable VA T
Irrecoverable VAT is charged to the Statement of Flnancial Actlvlties, or ¢apltalised as part of tha cost of the related
asset, where appropriate.
Charitablo activltles
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activiiies and seniice8 for its
beneficiaries. It indudes both costs that can be allocated directly to such activities and those costs of an indirect nature
necessary to support them.
Employe6 benefits
IINThen employees have rendered service to the charity, short-tem employee benefits to which the employees are
entitled are recognised at the undiscounted amount expected to be paid in exchange for that seNiCe.
The charity operates a defined contrlbution penslon scheme, the assets of which are held separately from those of
the charity in an independently administered fund. The pension cost charge represents contributions payable to the
scheme in the accounting period.
Fund accountlng
Funds which are expendable at the discretion of the charity in furtherance of its objects are accounted for as
unrestricted funds.
Funds that can only be used for particular restricted purposes within the objects of the charity are accounted for as
restricted funds. Restrictions arise when specified by the donor or when the funds are raised for particular restricted
purposes.
Tanglble flxad assets
The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation
is calculated so as to write off the cost of tangible fixed assets, less thLyr estimated residual values, on a straight line
basis over the expected useful economic lives of the assets concerned from the month acquired. The principal annual
rates used are as follows:
Plant, furniture, fittings and computer equipment
10-25% reducing balance
17

ACTION RENEWABLES
IA COhlPANY UMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
2. Accounting pollcles (Cont'd)
Impalrnient of fixed assets
At each reporting end date, the group and the parent charitable company review the carying amounts of its tangible
and intangib18 assets to detemine whether there is any indication that those assets have suffered an impairment
loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent
of the impaimient loss (rf any). 1Olhere it is not possible to estimate the recoverable amount of an individual asset, the
group and the parent charitable company estimate the recoverable amount of the cash-generating unit to which the
asset belongs.
Intsngible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment
annually, and whenever there is an indication that the asset may be impaired.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the
estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the rlsks specific to the asset for which the estimates of future
Cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unlt) Is estimated to be less than its carrying amount, the
carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is
recognised immediately in profit or loss, unless the relevant asset is carried al a revalued amount, in which case the
impairment loss is t￿ated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impaimient loss have ceased to apply.
Vvhere an impairment loss subsequently reverses, the carying amount of the asset (or cash-generating unit) is
increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not
exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset
{or cash-generating unit> prior years. A reversal of an impairment loss is recognised immediately in profit or loss,
unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is
treated as a revaluation Increase.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call wlth banks and other short-tem Ilquid
investments with original maturities of three months or less.
Flnanclal assets
The group and the parent charitable company have elected to apply the provisions of Section 11 'Basic Financial
Instruments. and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial assets are recognised in the group's and the parent charitable company's statement of financial posltion
when the group and the parent charitable company become party to the contractual provisions of the instrument.
Financial assets are classified into specified categories. The classification depends on the nature and purpose of the
financial assets and is determined al the time of recognition.
Basic financial assets. which include trade and other receivables and cash and bank balances, are initially measured
at transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at
the present value of the future receipts discounted at a market rate of interest. Other financial assets classtfied as
fair value through profit or loss are measured at fair value.
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
18

ACTION RENEWABLES
(A COMPANY LlhJTED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting pollci88 (Cont'd)
Loans and ￿Ge1vableS
Trade debtors, loans and other receivables that have fixed or detemiinable payments that are not quoted in an active
market are classrfied as 'loans and receivables,. Loans and receivables are measured at amortised cost using the
effective interest method, less any impairment.
Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognrtion
of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt
instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that
exactly discounts estimated future cgsh receipts through the expeGted life of the debt instrument to the net carrying
amount on inits'al recognition.
Impalmient of finan¢lal a88ets
Financial assets, other than those held at falr value through profrt and loss, are assessed for indlcators of Impairment
at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred
after the initial recognrtion of the financial asset, the estimated future cash flows have been affected. The impairment
loss is recognised in profit or loss.
DereC0gnit￿n of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when
it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.
Flnanclal liabllltles
Basic financial liabilities are initially measured at transaction price, unless the arrangement constitutes a financing
transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market
rate of interest. Other financial liabilities classified as fair value through profft or loss are measured at fair value.
Other financi81 liabilities
other financial liabilities, are initially measured at falr value. net of transaction costs. They are subsequently
measured at amortised cost using the 6ffective interest method, with interest expense recognised on an effective
yield basis.
The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating
interest expense over the relevant period. The effeth've interest rate is the rate that exactly discounts estimated future
cash payments through the expected life of the financial liability to the net carrying amount on initial recognikn'on.
Derecognition of finanGial liabilit￿S
Financial liabilities are derecognised when, and only when. the group's and parent charitable company's obligations
are discharged, cancelled, or they expire.
19

ACTION RENEWABLES
{A COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
2. Accounting pollcles {Cont'd)
Work in progress
v￿Ork in progress includes costs incurred in relation to ongoing activities at year end and is stated at the lower of cost
and net realisable value.
Deferred Income
Income received which is allocated for expenses in future periods is credited to deferred income.
Forelgn exchange
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets arKI
liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheat date.
All differences are taken to the income and expenditure account.
Llabllltles
Liabllltles are recognised when there is a legal and constructive obllgation commltting the company to the
expenditure.
Leaslng and hlre purchase commitments
Rentals payable under operating leases are charged in the income and expenditure account on a straight line basis
over the lease term.
3. Crltical accountlng estimates and Judgements
In the application of the group's and parent charitable company's accounting policies, the trustees are required to
make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on hlstorical experience and
other fadors that are consldered to be relevant. Actual results may differ from these estimates.
The estlmates and underlying assumptions are revlewed on an ongoing basls. Revisions to accountlng estimates
are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period
of the revision and future periods if the revision affects both current and future periods.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying
amount of assets and Siabilities are outlined below.
Key sources of astlmation uncertainty
Tangible fixed assets
Tangible assets are depreciated over their useful lives taking into account residual values where appropriate. The
actual lives of the assets are assessed annually and may vary depending on a number of factors. In reassessing
asset lives factors such as maintenance programmes are taken into account. Residual value assessments consider
Issues such as the remaining live of the asset and the estimated value in use.
Debtors
Short term debtors are measured at transaction price, less any impairment. Impairment of such debtors involves
some estimation un￿rtaintY.
20

ACTION RENEWABLES
(A COMPANY LIMITEO BY GUAIiANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Convd)
4. Flnanclal performance of the Charity
The consolidated statement of flnancial actlvltles includes the results of the Charity's wholly owned subsidiaries which
consult and advise on renewable energy and trades Renewables electricity and its derivatives. The financial
performance of the Charity alone is shown on page 12.
6. Income from charltable actlvlties
2023
2022
Unr8Strlcted Restrlcted
Funds
Funds
Unrestrlcted Restrlcted
Funds
Funds
Total
Totsl
European Projects
Other incoming resources
30,236
8,489
38,705
30,236
8,469
38,705
49,826
16,285
66,111
49,826
16,285
66.111
Govemment grant JRS
scheme
7,313
7,313
6. Income from tradlng actlvlties
The wholly owned trading subsidiaries are Action Renewables Energy Trading Limited (incorporated in Northem
Irel8nd) and Zevon Energy Limited (incorporated in Scotland). Action Renewables Energy Trading Limited pays
all of its profits to the Charity under the gift aid scheme. Action Renewables Energy Trading Limited provides
renewable energy consulting and advising and trading of Renewables Electricity and its derivatives. Zevon Energy
Llmited also specialises in trading of Renewablos Electricty.
21

ACTION RENEWABLES
{A COMPANY UMITED BY GUARAiifEEI
ANNUAL REpO￿r
FOR THE YEAR EMDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
6. Income from tradlng actlvltles (cont'd)
Th8 combined summary of financial perfomance for the subsidiaries is:
2023
2022
Total revenue
2,304.809
1,832,339
Administratlon costs
Interest receivablelpald
Net profit
(1,018,538)
(1,047,268)
785,071
1,286,271
(1.286,271)
Gift alded to the Charlty
Profit before taxation
Tax
Retained in subsidiary
(785,071)
The assets and liabilities of the subsidiaries alone
were..
Fixed assets
Current assets
Current liabilities
Total net assets
Aggregate share capital and reserves
432,427
7,232,009
(7.664,434)
219,754
5,626,978
(5,846,728)
7. Resources expended
2023
Total
2022
Total
Wages and Salaries
Publlc relations
Consultantslstudies
Conferencelsponsorship events
Travel and subsistence
Training
Rent and Servi￿ charge
Insurance
Depreciation
Computer expenses
Govemance costs
Other costs
1,128,290
20,428
955,479
4,762
14,080
3,591
435
1,018
22.033
108,247
3,520
14,116
2,588
78,303
1.208,172
9.535
4,771
22,033
83,805
2,058
10,928
3,469
25,376
1.314,537
22

ACTION RENEWABLES
{A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
7. Resources expended (cont'd)
Basis
European
Projects
Other
Activities
Total
2023
Total
2022
Salaries and wages
Time
Spent
45,132
1,083,158
1,128,290
955,479
Public relations
Direct
20,428
20,428
4,762
Consultantsl studies
Direct
14,080
Conference
Isponsorshlp events
3,591
Direct
9,535
9,535
Motor, travel &
subsistence
Usage
1,643
3,128
4,771
11,671
Training
Dlrect
154
3,690
3,844
1,018
Rent
Area
881
21,152
22,033
22,033
Insurance
Area
3.352
80,453
83,805
108,247
Computer exp
Usage
437
10,491
10,928
14,116
Depreciation
Direct
82
1,976
2,058
3,520
Governance
3.469
3,469
2,588
other costs
Direct
25,376
25.376
67,067
51,681
1,262,856
1,314,537
1.208,172
23

ACTION RENEWABLES
(A COMPAMY UMITED BY GUARAMTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
8. Net outgolng resources
2023
2022
Thls Is statsd after charglng:
Staff costs (note 9)
1,128,290
955,479
Depreciation - owned assets
39,687
41,387
Auditors. remuneration
10,842
7,376
9. Employee Infomiatlon
2023
2022
staff c08ts
Wages and Salaries
973,936
821,825
Social securlty costs
94,180
77,808
other pension costs
60,174
56,246
1,128,290
955,479
Average monthly number of persons employed by the group (induding directors)
during the year
Number
Number
Employees
32
31
There V￿re two employees with remuneration in excess of £60,000 (2022: two).
The total amount of benefits received by key management personnel in the period was £221,895 {2022: £200.112).
The Charity considers its key management personnel to comprise of the Chief Executive, the Finance Director. and
the Chief Operating Officer.
24

ACTION RENEWABLES
(A COMPANY LIMTED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 ￿RCH 2023
NOTES TO THE FINANCIAL STATEMENTS Icont'd)
10. Dlrectors. remuneration
2023
2022
Directors. remuneration
182,309
200,112
The company has Indemnity insurance for Its directors at a cost of £5,600 (2022 - £5,800).
The number of directors to whorn retlrement benefits are accruing under defined contribution schemes in respect of
qualifying services is 1 (2022.. 2). The aggregate amount of contributions paid in respect of directors. qualifying
services is £7,176 (2022.. £15,972).
The Chief Executive and accountant, who are a150 directors, have received remuneratlon as provlded for by the
company's Memorandum and Artides of Association. The company paid £8,240 (2022 - £7,838) to the Chaimian,
this is included in the amount disclosed above. Each non-executlve director received £543-£10.414 (2022 - £1,157 -
£10.368) recompense for their role as directors of the organisation.
11. Taxatlon
The company is a registered charity, and as such is entitled to certain tax exemptions on income and profits from
investments, and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, rf
these profits and surpluses are applied Solely for charitable purposes.
25

ACTION RENEWABLES
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR EMDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
12. Tangible fixed assets
Group
Furnlture
and fittlngs
Computer
Equlpment
Plant
Total
Co8t'.
At 1 April 2022
91.033
123.476
225,514
440,023
Additions
239,904
10,275
250,179
Dlsposa18
At 31 March 2023
330,937
123,476
235,789
690,202
Accumulated depreclatlon:
At 1 April 2022
78,292
106,982
182,565
387,839
Depreclation charge for the year
10,345
3.429
25,793
39,587
Disposals
At 31 March 2023
88,637
110,411
208,358
407,406
Net book value:
At 31 March 2023
242,300
13,085
27,431
282,796
At 1 April 2022
12,741
16.494
42,949
72,184
26

ACTIOM RENEWA8LES
{A COMPANY UMITED BY GUARAiifEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
12. Tanglble fixed assets (cont'd)
Charltable company
Fumlture
and flttlngs
Computer
Plant
Equlpmént
Total
Cost:
At 1 April 2022
62,168
83,136
66,296
211,600
Additions
Disposals
At 31 March 2023
62,168
83,136
66,298
211,600
Accumulated depreclatlon:
At 1 April 2022
60,156
82,949
66,066
209,171
Depreciation charge for the year
1,770
58
230
2,058
Dlsposals
At 31 March 2023
61,926
83,007
86,296
211,229
Net book value:
At 31 March 2023
242
129
371
At 1 April 2022
2,012
187
230
2,429
27

ACTION RENEWA8LES
{A COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR EMDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
13. Investments
Group
Investment In Subsidiary
2023
2022
nvestments
Movements In fixed asset Investments
Quoted
Inveslments
Shares In
group
undertakSngs
Cost
As at 1 April 2022
Additions
Disposals, at valuation
(D￿rease) in cash hold
Realised gain on valuation
Unrealised gain on valuation
As at 31 March 2023
1,173,206
116,426
(67,955)
(36,064)
(41,854)
(31,877)
1,111,882
Carrylng amount
At 1 April 2022
1,173,206
At 31 March 2023
1,111,882
Investments are managed on a discretionary basls by an independent investment broker. The Investments are held
at market value.
28

ACTION RENEWABLES
(A COMPAMY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR EMDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Convd)
Charltable Company
Investment In Subsldlary
2023
2022
Investments
Movements In flxed asset Investments
Quotsd
Investments
Shares In
group
undertaklngs
Cost or valuatlon
At 1 April 2022
Addits"ons
Disposals, at valuation
(Decrease) in cash hold
Realised gain on valuation
Unrealised gain on valuation
1,023,206
116,425
(67,955)
(36,064)
(41,854)
At 31 March 2023
Carylng amount
At 31 March 2022
961,881
1,023.208
961,881
At 31 March 2023
Détalls of the princlpal Investments In which the Company holds 20% or more of the nominal value of any class of
share caprtal during the year are as follows:
Sub8idlary Undertaklngs
Hokllng
Proportlon held
of voting rlghts
and shares
100%
Nature of Bu8lness
Action Renewables
Trading Limited
Ordinary Shares
Advising on and Energy
trading in Renewables
Zevon Energy Limited
For the year ended 31 March 2023 neither Action Renewables Energy Trading Limited nor Zevon Energy Limited
retained neither a profrt nor a loss and at 31 March 2022 and both companies had aggregate capital and reserves
of£1.
Ordinary Shares
100%
Domiant
29

ACTION RENEWABLES
IA COMPAMY UMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
14. Debtors
Group
2023
Charltable company
2023
2022
2022
Trade debtors
Prepayments and accrued income
Other tsxes and social securty
Other debtors
Due from subsidiary
277,021
66,620
108,547
28,180
37,357
160
173,466 128,206
16,200
87,515
1,801
8,919
64,947
96,363
2,480,004 1,762,331
2,648,666 1,869.414
594,391 223,166
16. Cradltors: amounts falllng du• wlthln on• year
Group
2023
Charltsble company
2023
2022
2022
Trade creditors
Other taxes and 80cial security
Other creditors
Accruals and deferred Income
4,674,958 3,887,115
94.595
65,205
4,017
4,829
560,470
255,644
5,377,798 4.212.793
72,292
66,353
3,084
51.638
193,387
(320)
65.205
4,708
58,800
128,393
16. Analysls of unrnstrlcted funds
Balan
Movement in
Resources
Balance
1 April
Incoming
Outgoing
31 March
2022
2023
Unrestrlcted Funds
3,272,457
2,282,189
(1,543.010)
4,011,636
30

ACTION RENEWABLES
{A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
17. Obligatlons under leases
At 31 March 2023, the company was committed to making the following payments under non-cancellable operating
leases as set out below..
2023
2022
Operating leases which expire:
thin one year
49,806
46,848
Within 2- 5 years
124,526
93,696
174,332
140,544
18. Llablllty of members
Adion Renewables is a company limited by guarantee. The liability of the members Is limited to an amount not exceeding
£1.
19. Pansion commltments
The company operates a defined contribution pension scheme. The assets ofthe scheme are held separately from those
of the company. The cost and charge represents contributions payable by the company to the fund and amount to
£60,174 {2022: £56,245). There were no outstanding amounts payable to the pension scheme at 31 March 2023.
20. Reconclllatlon of not movements In funds to net cash flow from operatlng actlvltles
2023
2022
Net movement In funds for the year
739,179
556,093
Growth In investments
61,325
{23,206)
Depreciation
39,567
41,387
Increasel(Decreasel in creditors
1,165,000
3,318,211
(Increase)IDecrease in WIP
(10,845)
1,504
(Increase) 1DeC￿ase in debtors
1371,224)
143,524
Net cash (oufflow)inflow from operating activities
1,823,002
4.037.513
31