Registered no: Nl 047950
ACTION RENEWABLES
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Contents
Page8
Directors and advisers
Directors, report
Independent auditors, report
7-10
Consolidated statement of financial acts'vitles
11
Charity Statement of financial activities
12
Consolidated balance sheet
13
Charity balance sheet
14
Consolidated statement of cash flows
15
Notes to the financial statements
16-31

A￿lON RENewABLES
{A COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR ThE YEAR ENDED 31 fvIARCH 2024
DIRECTORS AND ADVISERS
Executlve Directors
Terence Waugh
Irene Robinson
Chairman
Stephen Harper
NOn-Ex￿Utive Dlroctor8
Gerard Hodgkinson
John Heaslip
Stephen Harper
Katherine Noble
Andrew Webb
David Flinn
Michael Scott
Neal Shanks
(resigned 21 August 2023)
(resigned 20 May 2024)
(resigned 20 May 2024)
(appointed 21 August 2023)
Secretary
Mark Compston
Rogistered Office
Block C Unit 1
Boucher Business Studios
Glenmachan Place
Belfast
BT12 6QH
Bankers
First Trust Bank
Donegall Square North
Belfast
BT15GB
Danske Bank
Donegall Square West
Belfast
BT16JS
Solicitors
A&L Goodbody
4246 Fountain Street
Belfast
BT15EF

AcfioN RENEWABLES
IA COMPANY IIMITED 8Y GUARA ￿EE)
ANNIJAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
DIRECTORS AND ADVISERS (Cont'd)
Register￿ Audltors
Harbinson Mulholland
Centrepoint
24 Omeau Avenue
Belfast
BT2 8HS
Company Reglstratlon Number
N1047950
Charlty Roglstratlon Nurnbor
100806

ACTION RENEWABLES
IA COMPANY UMITED DY GUAPANTEEI
ANNIJAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
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 315t March 2024. The
directors have adopted the provisions of the Companies Act 2006, the Statement of Recommended Practice
(SORPI"Accounting and Reporting by Charities" 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-Executive Directors, a Chairman, and Executive Directors. The Chief Executive
is responsible to the Board for the management of the organisation on an on-going basis. The Chief Executive
and the Chief Operations Officer deal with the daily administration of programmes and services. We operate from
8elfast throughout Northem Ireland, the rest of the UK, Ireland, and in Europe.
The charity has established a wholly owned subsidiary, Ackn'on Renewables Energy Trading Limited (ARET), a
company Limited by shares. The trading surplus of this company, which provides consultancy services on
renewable energy and trades renewable electricity and its derivatives, is donated to Action Renewables. ARES
Market Services Limited, estsblished 2022 is another subsidiary of Action Renewables Energy Trading Limited.
In line with good govemance, Action Renewables, Action Renewables Energy Trading Limited and ARES Market
Services Limited are governed by a Resource Sharing Agreement, statement of Reserved Matters and Deed of
Covenant as appropriate behveen the legal entities.
Strategy
Action Renewables is widely recognised as one of the foremost authorities on renewable energy in Northem
Ireland. Its charitable objectives are.. Advance to the benefit of the public, the protects'on 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 renewable energy
provision, by promoting quality assurance schemes and delivering quality assurance services.
Action Renewables works directly with those 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. Services offered to these clients typically
engage Action Renewables in a consultancy role with a range of relevant stakeholders including developers,
constructors, consultants, Installers, customers, suppliers and the various bodies such as planners and building
control officers. It is increasingly important that we continue our on-going mission to remove the barriers that
hinder the rate of renewable energy deployment and make these services accessible to all.
Action Renewables, strategy has continued to be to work in areas in line with its staff CoMpeten￿s, expertise
and experience. Additionally, the organisation promotes staff development and facilitates staff to explore and
develop new services within the areas of energy, the environment and climate change

ACTION RENEWABLES
IA COMPANY UMITED BYGUAPANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
DIRECTORS, REPORT CONT.
Flnancial ravlew and risk development
During the year the group received unrestricted income of £2,840,182 and incurred expenditure of £1,985,923.
Including the gains on investments, this resulted in a surplus of £925,790 compared to a surplus of £739,179 in
the previous year. The unrestricted reserves increased from £4,011,636 at 31st March 2023 to £4,937,426 at 31st
March 2024. The charity's operations expose it to a variety of financial risks that include the adverse economic
climate.
The results for the year include the consolidated results for Action Renewables and Action Renewables Energy
Trading Limited its trading subsidiary as required under The Ststement of Recommended Practice (SORP)
"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 are included on page 12.
The Board of Directors have responsibility in monitoring the financial risk of the company, and during the year,
met regularly 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 charity
is exposed, in particular those related to the operations and finances of the organisation. The Directors are
satisfied that systems are in place 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.
Going concern
We refer to note 1, fundamental accounting concepl 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 2025 showing 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 concem basis. The Management Team uses a
Balanced Score Card throughout the year to review progress against the business plan.
Reserves poIIcy
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 charity's overall financial position and its need to maintain and develop its charitable activities.
Plans for future porlods and charltable activltlos
Our Vislon: 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 Mission: Action Renewables operates primarily in Northern Ireland, but also in GB and Rol. Our customers are
renewable energy generators, users and suppliers. INhile the charity is primarily concerned with mitigating climate
change and promoting renewable energy, the trading subsidiary (ARET) is concemed 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.

AcnoN RENEWABLES
IA COMPANY LIMITEO BYGUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
DIRECTORS, REPORT CONT,
Our Purpose: Advocate, Intervene and Support with regard to climate change and taking rneasures to mitigate
against it, through using renewable energy, energy efficiency, renewable transport and renewable products is at the
heart of everything we do.
During this year, Action Renewables celebrated its 20th Anniversary. To mark the occasion, the organisation hosted
a lunch with stakeholders at the Great Hall in Queens University Belfast. As part of our 20th anniversary, we also
made a significant contribution to the enhancement of education around climate change, by funding a £15,000
scholarship at the Ulster University. The Action Renewables Energy Storage Scholarship is open to Ulster University
students who are studying for an Msc in Energy Storage at the Belfast Campus. We will fund at least one scholarship
every year.
Action Renewables remains dedicated to its core values.. Sustainability, Collaboration, Integrity, and Progression,
which continue to be communicated and reinforced throughout the organisation. These values are integral to the
company's operations, fostering a culture that is both respectful and productive.
Throughout the trading period from April 2023 to March 2024, Action Renewables achieved significant milestones in
various areas. The organisation continued to operate and promote the Charity PV Programme, which supports not-
for-profitorganisations by reducing their energy costs and C02 emissions through low-cost electricity from renewable
generation. This programme saw a total of 23 charity PV installations commissioned, with a combined installed
capacity of 265kW, generating approximately 220MWh of ￿neWable electricity by the end of March 2024. This offset
44,123kg of C02, equivalent to the carbon sequestration of around 232 trees. and provided substantial energy and
operational cost savings to beneficiaries, exceeding £21,000. Additionally, Action Renewables conducted feasibility
studies for around 100 community organisations, offering support and expertise regarding their energy requirements
and improvements. Action Renewables also participates on the Home Energy Conservation Authority (HECA) panel,
contributing to discussions on energy efficiency and fuel poverty.
Environmental efforts by Action Renewables were spearheaded by its internal Climate Action Group, which is on
track to exceed its target of a 500/D emission reduction by 2030, having already achieved 480￿. The group reports
Action Renewables, environmental performance in areas including energy, resources, and waste through Business
in the Community and is voluntarily recording its Scope 1, 2, and 3 emissions.
In terms of outreach and community involvement, Action Renewables sponsored the Energy Institute's annual black-
tie dinner and presented the McBride Award to the successful student, recognising an outstanding Msc dissertation
thesis in the field of energy research. Additionally, Action Renewables sponsored the Energy Institute Nl's 'Young
Professionals Ne￿ork, event at Ulster University. This event featured industry speakers and provided ne￿OrkIng
opportunities for young professionals in the energy sector. Furthermore, Action Renewables staff were invited to
speak at several schools, offering students valuable information about climate change in line with their curriculum.
The organisation continued its relationship with Children of the Nations {COTN) and Mulanje Mission Hospital in
Southern Malawi through local contacts in Northern Ireland, supporting the Mulanje Mission Hospital cookstove
project, which has deployed over 7,000 safe and carbon*fficient cookstoves.
Action Renewables is collaborating with Belfast City Council on the Belfast'Local Area Energy Plan. (LAEP) and
has volunteered to support its deployment as a member of the LAEP Delivery Group.
Action Renewables also provided services to the National Lottery Community Fund through its Sustainable
Community Buildings Programme and will offer energy-related technical support to up to 150 community groups.
The organisation is also a partner in an Ashden-led 'Energy Learning Network,, a three-year initiative sUPPOrting
community groups in developing knowledge sharing and community-led energy projects. This UK-wide project,
funded by the National Lottery Community Fund, includes partners from England, Scotland, and Wales, with Action
Renewables representing Northern Ireland.

AcfioN RENEWABLES
IA COMPANY LIMITED BY GiIARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
DIRECTORS, REPORT CONT,
Statement 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 accordan￿ with
applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the
directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the
directors must not approve the financial statements unless they are satisfied that they give a true and fair view of
the state of affairs of the company and of the profit or loss of the company for that period. In preparing those
financial statements, the directors are required to..
select suitable accounting policies and then apply thèm consistently;
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, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the company will continue in business.
The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and to enable them to ensure that the financial ststements 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.
Dlsclosure of infomiatlon to auditors
So far as each person who was a director at the date of approving this report is aware..
there is no relevant audit information, being information needed by the auditor in connection with preparing
its report, of which the auditor is unaware.
the trustees having made enquiries of fellow directors and the group's auditor that they ought to have
individually taken, have taken all the steps that helshe is obliged to take as a director in order to make
themselves aware of any relevant audit information and to establish that the auditor is aware of that
information.
Small company exemptlon
This report has been p￿pared in accordance with the special provisions relating to companies subject to the small
companies regime within Part 15 of the Companies Act 2006.
Audltors
A resolution is to be proposed at the Annual General Meeting for reappointment of Harbinson Mulholland as
auditor of the Company.
By order of the Board
M Compston
Secretary
2910612014

AcfioN RENEWABLES
IA COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ACTION RENEWABLES
Oplnlon
We have audited the financial statements of Action Renewables for the year ended 31 M8rch 2024 which comprise
the Consolidated Statement of Financial Activities, (including Income and Expenditure account), the Consolidated
Balance 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (United kn'ngdom 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 company's charitable affairs as at 31
March 2024 and of its profit for the year then ended.,
have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting
Practice-, and
have been prepared in accordan￿ with the requirements of the Companies Act 2006.
Basls for Oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs {UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the
financial ststements section of our report. We are independent of the company in accordance with the ethical
requirements that are relevant to ouraudit of the financial ststements in the UK, including the FRC'S Ethical Stsndard,
and we have fulfilled our other ethical responsibilits'es in accordance with these requirements. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating 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 concern basi5 of accounting in the preparation of the financial statements is not
appropriate., or
the directors have not disclosed in the financial statements any identified material uncertainties that may cast
significant doubt about the group's or the parent company's abiSity to continue to adopt the going concern basis
of accounting for a period of at least twelve 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 othe￿ise explicitly stated in our repor( we
do not express any fomi of assurance conclusion thereon.
In connection with our avdit 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
misststement in the financial statements or a material misstatement of the other information. If, based on the work
we have performed, we conclude that there is a material misstatement of this other information, we are required to
report that fact.
Ilve have nothing to report in this regard.

ACTION RENEWABLES
IA COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YE4R ENDEO 31 MARCH 2024
INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF ACTION RENEWABLES (Cont'd)
Opinion on other matter prescrlbed by the Companies 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 statements are prepared is consistent with the financial statements., and
the Strategic Report and the Directors, Report have been prepared in accordan￿ with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charitable company and its environment obtained in the course
of the audit. we have nol 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 if, in our opinion..
adequate accounting records have not been kept or returns adequate for our audit have not been received
from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of directors, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit
Matters on whlch we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to
you if, in our opinion..
Responsibilitles of directors
As explained more fully in the Directors, Responsibilities Statement, the directors are responsible for the preparation
of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as
the directors determine is necessary to enable the preparation of financial statemenls 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, disclosing, as applicable, matters related to going concern and using the going concern 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.
Audltorfs responsibllltles for the audlt of the financlal statements
Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole 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 assurance, but is not a guarantee that an audit conducted in accordan
with ISAS (UK) will always detect a material misstatement when It exists. Misstatements can arise from fraud or error
and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. http'.Ilwww.frc.org.ukJauditorsresponsibilities. This description forms part of our
auditor's report.

ACTION RENEWABLES
{A COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
INDEPENDENT AUDITORS. REPORTTO 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-compliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with 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;
We 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, environmental and health and safety legislation
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal correspondence,. and
identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instsnces of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining
an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud., and
considering the intemal 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 idents-fy unusual transactions.,
assessed whether judgements and assumptions made in determining 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
which included, but were not limited to=
agreeing financial statement disclosures 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 leg81 advisors.,
There are inherent limitations in our audit prO￿dureS described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to identify non-complian￿ with laws and regulations to
enquiry of the directors 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.

A￿lON RENEWABLES
IA COMPANY LIMITED BYGUARANTEEI
ANNUAL REPORT
FOR THEYEAR ENDED 31 MARCH 2024
INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OFACTION RENEWABLES (Cont'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 charitsble
company's members those matters we are required to state to them in an auditor's 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 a body, for our audit work, for this report, or for the opinions we have
formed.
Angela
Igan FCA {S•nlor S
utory Audltor)
For and on behalf of Harbinson Mulholland,
Chartered Accountsnts and Statutory Audltors
Centrepoint
24 Omieau Avenue
Belfast
BT2 8HS
Date...
10

ACTION RENEWA8LES
IA COMPANY LIMITED DYGUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2Q24
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING SUMMARY OF INCOME AND
EXPENDITURE)
2023
2024
Notes
Unrestricted Restricted
Unrestricted
Restricted
Funds
Funds
Total
Funds
Funds
Total
Income from:
Charitable activities
37,397
37,397
38,705
38,705
Other trading
activities.
2,740,620
2,740,620
2,304,809
2,304,809
Interest ￿CeIVable
62,165
62,165
Total
2,840,182
2,840,182
2,343,514
2,343,514
Expendlture on:
Charitable activities
1,622,165
1,622,165
1,314,537
1,314,537
Raising funds..
Commercial trading
activities
363,758
363,758
228,473
228,473
Totsl
1,985,923
1,985,923
1,543,010
1,543,010
Net gains
Ilosses)Igains on
investments
71,531
71,531
{61,325)
(61,325)
Net movement In
fund8
925,790
925,790
739,179
739,179
Totsi funds brought
forward at 1 April
2023
4,011,636
4,011,636
3,272,457
3,272,457
Total funds
carried forward at
31 March 2024
4,937,426
4,937,426
4,011,636
4,011,636
"Other trading activities includes commission earned on revenue of £59,192,887 (2023.. £53,097,653} The
statement 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 fom part of these accounts.
11

ACTION RENEWABLES
IA COMPANY LIMrrED 8YGUAPANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED31 MARCH2024
CHARITY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING SUMMARY OF INCOME AND
EXPENDITURE)
2024
2023
Unrestricted Restricted
Unrestricted Restricted
Funds
Funds
Total
Funds
Funds
Total
Income from:
Charitable activities
963,643
963,643
828,771
828,771
Donations
1,608,451
1,608,451
1,286,270
1,286,270
Total
2,572,094
2,572,094
2,115,041
2,115,041
Expenditure on:
Charitable activities
1,622,165
1,622,165
1,314,537
1,314,537
Total
1,622,165
1,622,165
1,314,537
1,314,537
Net galns l(losses)
on investments
71,531
71,531
(61,325)
(61,325)
Net movement In
funds
1,021,460
1,021,460
739,179
739,179
Total funds brought
fO￿vard at 1 April 2023
4,011,636
4,011,636
3,272,457
3,272,457
Total funds carried
forward at 31 March
2024
5,033,096
5,033,096
4,011,636
4,011,636
The staternent of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The notes on pages 16 to 31 form part of these accounts.
12

ACTION RENEWA8LES
IA COMPANY LIMITED BY GUARANTEO
ANNUAL ftepoRT
FOR THE YEAR ENDED 31 MARCH 2024
CONSOLIDATED BALANCE SHEET
Notes
2024
2023
Fixed assets
Tangible assets
12
343,274
282,796
Investments
13
1,242,912
1,111,883
1,586,186
1,394,679
Current a88ets
v￿Ork in progress
7,240
18,277
Debtors
14
3,589,998
594,391
Cash at bank and in hand
6,929,498
7,382,087
10,526,736
7,994,755
Creditors.. amounts falling due within one year
15
(7,175,494)
(5,377,798)
Net current assets
3,351,242
2,616,957
Net assets less current liabllities
4,937,426
4,011,636
Credltors: due after one year
Net A880ts
4,937,426
4,011,636
Income funds
Unrestricted funds
16
4,937,426
4,011,636
Total funds
4,937,426
4,011,636
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 applicablè to companies subject to the small companies, regime.
SHar
T Waugh
Dlrector
CEO
Director
Chalrman
SA
Data .
Company registration number: N1047950
The notes on pages 16 to 31 form part of these accounts.
13

AcnoN RENEWABLES
IA COMPANY LIMITED 8YGUARAPffEEI
ANNUAL REPORT
FOR THE YEAR ENOED 31 MARCH 2024
CHARITY BALANCE SHEET
Notes
2024
2023
Fixed assets
Tangible assets
Investments
12
371
13
1,033,412
961,881
1,033,506
962,252
Current assets
Work in progress
Debtors
1,925
14
2,917,874
2,648,666
Cash at bank and in hand
1.319,185
594,082
4,238,984
3,242,748
Creditors.. amounts falling due one year
15
(239,394)
3,999,590
(193,367)
Net current assets
3,049,381
Total assets less current liabilltle8
5,033,096
4,011,633
Funds
Unrestricted funds
5,033,096
4,011,633
Total funds
5,033,096
4,011,633
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 the small companies, regime.
S Harper
Twaugh
Director
CEO
Director
Chalrrnan
SA
Date..
Company registration number: N1047950
The notes on pages 16 to 31 form part of these accounts
14

A￿[oN RENEWA8LE5
IA COMPANY LIMITED BYGUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 WRCH 2024
CONSOLIDATED STATEMENT OF CASH FLOWS
Notes
2024
2023
Cash flows from operatlng
activities
Cash (used in) Igenerated from
operations
20
{261,807)
1,623,002
Investing actlvltl88
Purchase of unquoted investments
Purchase of quoted investments
Proceeds on disposal of investments
(59,500)
(137,146)
113,328
Gainsl(losses) on investments
Purchase of tangible fixed assets
(47,711)
(121,9181
(250,179)
Interest received
Net used in investlng actlvltles
(190,7821
(250,179)
Net (decrease) I Increase In cash and
cash equivalents
(452,589)
1,372,823
Cash and cash equivalents of beginning of
year
7,382,087
6,009,264
Cash and cash oqulvalents at end of
year
6,929,498
7,382,087
Relatlng to:
Bank balances and short term deposits
6,929,498
7,382,087
15

A￿lON RENEWABLES
IA COMPANY LIMITED 8YGUARANreEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
1. Fundamental accounting concept
The directors have prepared the financial statements on the going concern basis which assumes that the company
will continue in operational existen￿ 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 2025 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 liabilits-es which
may arise and to reclassify fixed assets as current assets.
2. Accountlng pollcl88
Basis of preparation
The financial 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 (FRS1021 (effective 1 January 20151 (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 Un￿rtainlY are
set out below.
The trustees consider that these accounting policies are suitsble, have been consistently 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.
Going Concern
There have been no material risks impacting going concern in the year. Therefore, these accounts are prepared on
a going concem basis.
Group flnanclal statements
These financial statements 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 Statement of
Financial Activities and Income and Expenditure Accounts for the Charity alone has been presented on page 12.
In¢omlng resources
Income from charltable a¢tlvlties
Income from charitable activities includes income earned from both the supply of goods and services under contractual
arrangements and from performance related grants which have conditions that specify the provision of particular goods
and services. Revenue grants are credited to Incoming resources on the earlier of when they are received or when they
are re￿1Vable, unless they relate to a specified fijture period, in which case they are deferred.
other tradlng activities
This includes income receivable for services provided, income from activities undertaken to raise funds to undertake
charitable activities, and income from the operation of subsidiary company Action Renewables Energy Trading Limited,
this income is recognised when entitlement has occurred.
16

ACTION RENEWABLES
IA COMPANY Um￿ED BY GVARANTEEI
ANNIJAL REPORT
FOIt THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
2. Accounting policies {Cont'd)
Other income
This includes income from all other SoU￿S a￿ included 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. Vwhere costs cannot be directly attributed to particular headings they have been allocated to
activities on a basis consistent with use of the resources. Staff costs and overhead expenses are allocated to activities
on the basis of staff time spent on those activities.
Govamance costs
Govemance costs include those incurred in the governance of its assets which are associated with constitutional and
statutory requI￿rnents.
Irrecov•rable VA T
Irrecoverable VAT is charged to the Statement of Financial Activities, or capitalised as part of the cost of the related
asset, where appropriate.
Charitsble actlvttles
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and seNices for its
beneficiaries. It includes both costs that can be allocated directly to such actNlties and those costs of an indirect nature
necessary to support them.
Employee benefits
When employees have rendered service to the charity, short-term employee benefi'ts to which the employees are
entitled are recognised at the undiscounted amount expected to be paid in exchange for that servi￿.
The charity operates a defined contribution pension 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.
Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently
measured at fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditure) for
the year. Transaction costs are expensed as incurred.
Fund accounting
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.
Tangible fixed 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 their estimated residual values. on a straight line
basis over the expected useful economic lives of the assets Con￿rned from the month acquired. The principal annual
rates used are as follow5..
Plant, furniture, fittings and computer equipment
10_25 % reducing balance
Leasehold improvements
33.￿ reducing balance
17

AcfioN RENewA8LES
IA COMPANY LIMITED BYGUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
2. Accounting pollcles (Cont'd)
Impalmient of fixed assets
At each reporting end date, the group and the parent charitsble company review the carrying amounts of its tangible
and intangible assets to determine 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 impairment loss (if any). Where 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.
Intangible 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-tsx discount rate that reflects current
market assessments of the time value of money and the risks 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 unit) is estimated to be less than its carrying amount, the
carrying amount of the asset (or cash-generating unil) is reduced to its recoverable amount. An impairment loss is
recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the
impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impaiment loss have ￿8$ed to apply.
Where an impairment loss subsequently reverses, the carrying 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 equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid
investments with original maturities of three months or less.
Financial 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 position
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 at the time of recognition.
Basic financial assets, which include trade and other re￿1VableS and cash and bank balances, are initially measured
at transaction price including transaction costs and are subsequently carried at amortised cost using the effects've
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 classified as
fair value through profit or loss are measured at fair value.
18

AcfioN RENEWABLES
IA COMPANY LIMITED BY GLIAPANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
2. Accounting policies (Cont'd)
Loans and receivables
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active
market are classified as 'loans and receivables,. Loans and re￿ivableS are measured at amortised cost using the
effective interest method, less any impairment.
Interest is recognised by applying the effective interest rate, ex￿pt for short-term receivables when the recognition
of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debl
instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that
exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying
amount on initial recognition.
Impairment ol flnanclal a88et8
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators 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 recognition of the financial asset, the estimated future cash flows have been affected. The impairment
loss is recognised in profit or loss.
Derecognition 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.
Financial Ilabilities
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 profit or loss are measured at fair value.
other financial liabilities
Other financial liabilities, are initially measured at fair value, net of transaction costs. They are subsequently
measured at amortised cost using the effective interest method, with interest expense recognised on an effective
yield basis.
The effects've interest method is a method of calculating the amortised cost of a financial liability and of allocating
interest expense over the relevant period. The effective 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 recognition.
Derecognition of financial liabilities
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 BYGiJARANTEei
ANNUAL REPORT
FOR THE YEAR ENDEO 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
2. Accounting policies (Cont'd)
Work In progress
Work 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.
Foreign exchange
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and
liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date.
All dIfferen￿S are taken to the income and expenditure account.
Liabllities
Liabilities are recognised when there is a legal and constructive obligation committing the company to the
expenditure.
Leasing and hlre purchas• commltments
Rentals payable under operating leases are charged in the income and expenditure account on a straight line basis
over the lease term.
3. Critical accounting estlmate8 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 historical experience and
other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimat8S
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 liabilities are outlined below.
Key sources of estimatlon 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 impaiment. Impairment of such debtors involves
some estimats'on uncertainty.
20

AcfioN RENEWABLES
COMPANY Um￿ED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
4. Flnancial performance of the Charity
The consolidated statement of financial activities 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.
5. Income from charltable activities
2024
2023
Unrestrfcted Restrlcted
Funds
Funds
Unrestrlcted Restrlcted
Funds
Funds
Total
Total
European Projects
other incoming resources
8,272
29,125
37,397
8,272
29,125
37,397
30,236
8,469
38,705
30,236
8,469
38,705
6. Income from tradlng actlvltie8
The wholly owned trading subsidiaries are Action Renewables Energy Trading Limited (incorporated in Northern
Ireland) 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. ARES Market
servI￿s Limited (incorporated in Northern Ireland) is a wholly owned subsidiary of Action Renewables Energy
Trading Limited. ARES Market Services Limited also specialise in trading of Renewables Electricity- Zevon Energy
Limited is now dormant.
21

A￿lON RENEWABLES
(A COMPANY LIMITED BYGLi4RANTEEI
ANNiIAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
6. Income from trading actlvltles (cont'd)
The combined summary of financial performance for the subsidiaries is..
2024
2023
Total revenue
2,740.620
2,304,809
Administration costs
Inte￿st receivablelpaid
Net profit
Gift aided to the Charity
(Loss) I Profit before taxation
Tax
Retained in subsidiary
(1,290,005)
62,165
1,512,780
(1,608,451)
(95,671)
(1,018,538)
1,286,271
{1,286,271)
(95,671)
The assets and liabilities of the subsidiaries alone
were..
Fixed assets
Current assets
Current liabilities
Total net assets
Aggregate share capital and reserves
552,678
9,380,172
(10,028,521)
(95,671)
{95,671)
432,427
7,232,009
(7,664,434)
7. Resources expended
2024
Total
2023
Total
Wages and Salaries
Public relations
Consultantslstudies
Conferencelsponsorship events
Travel and subsistence
Training
Rent and Sep41￿ charge
Insurance
Depreciation
Computer expenses
Governan￿ costs
other costs
1,351,758
23,911
5,250
10,963
1,632
1,346
28,161
79,707
277
1,811
4,597
112,752
1,622,165
1,128,290
20,428
9,535
4,771
22,033
83,805
2.058
10,928
3,469
25,376
1,314,537
22

AcnoN RENEWABLES
IA COMPANY LIMITED BY GUARAHfEO
ANNIJAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
7. Resources expended (cont'd)
Basis
European
Projects
Other
Activities
Total
2024
Total
2023
Salaries and wages
Time
spent
2,704
1,349,054
1,351,758
1,128,290
Public relations
Direct
23,911
23,911
20,428
Consultantsl studies
Direct
5,250
5,250
Conference
Isponsorship events
Motor, travel &
subsistence
Dlrect
10,963
10,963
9,535
Usage
1,632
1,632
4,771
Training
Direct
1,343
1,346
3,844
Rent
Area
56
28,105
28,161
22,033
Insurance
Area
159
79,548
79,707
83.805
Computer exp
Usage
1,807
1,811
10,928
Depreciation
Direct
276
277
2,058
Govemance
4,597
4,597
3,469
Other costs
Direct
1,495
111,257
112,752
25,376
4,422
1,617,743
1,622,165
1,314,537
23

AcfioN RENEWABLES
IA COMPANY LIMITED BY GIMPANTEei
ANNIJAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS {Cont'd)
8. Net outgoing resources
2024
2023
This Is stated after charglng:
Staff costs (note 9)
1,351,758
1,128,290
Depreciation - owned assets
61,441
39,567
Auditors, remuneration
10,410
10,842
9. Employee Informatlon
2024
2023
Staff costs
Wages and salaries
1,177,627
973,936
Social security costs
108,044
94,180
Other pension costs
66,087
60,174
1,351,758
1,128,290
Average monthly number of persons employed by the group (including directors)
during the year
Number
Number
Employees
36
32
There were two employees with remuneration in excess of £60,000 (2023.. hvol.
The total amount of benefits ￿ceiVed by key management personnel in the period was £264,272 (2023.. £221,895}.
The Charity considers its key management personnel to comprise of the Chief Executive, the Finance Director, and
the Chief Operating Officer.
24

ACllON RENEWABLES
IA COMPANY LIMtfED BY GUARANTEEI
ANNUALREPORT
FOR THEYEAR ENOED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
10. Dlrectors, remun8ration
2024
2023
Directors, remuneration
233,099
182,309
The company has indemnity insurance for its directors at a cost of £5.600 (2023 - £5.600).
The number of directors to whom retirement benefits are accruing under defined contribution schemes in respect of
qualfying services is 1 (2023.. 1). The aggregate amount of contributions paid in respect of directors, qualifying
services is £7,830 (2023: £7,176).
The Chief Executive and accountant, who are also directors, have weived remuneration as provided for by the
company's Memorandum and Articles ofAssociation. The company paid £8,816 (2023.. £8,240) to the Chairman, this
is included in the amount disclosed above. Each non-executive director received £3,206 £11,143 {2023: £543
£10,414) 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 furtheran￿ of the charity's primary objectives, if
these profits and surpluses are applied solely ft)r charitable purposes.
25

AcnoN RENEWABLES
IA COMPANY UMITED BYGUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
12. Tanglble fixed assets
Group
Leasehold
Furniture
and fittlngs
Computer
Equlpment
Improvements
Plant
Total
Cost:
At 1 April 2023
330,937
123,476
235,789
690,202
Additions
43,966
51,585
14,492
11,875
121,918
Disposals
At 31 March 2024
43,966
382,522
137,968
247,664
812,120
Accumulated depreclation:
At 1 April 2023
88,637
110,411
208,358
407,406
Depreciation charge for the
year
9,550
29,508
4,049
18,334
61,441
Disposals
At 31 March 2024
9,550
118,145
114,460
226,692
468,847
Net book value:
At 31 March 2024
34,416
264,377
23,508
20,972
343,274
At 1 April 2023
242,300
13,065
27,431
282,796
26

ACTION RENEWABLES
IA COMPANY UMITED BY GUARANTEEI
ANNUAL REPORT
FOR ThE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
12. Tangible flxed assets (cont'd)
Charltable company
Furnfture
and fittings
Computer
Plant
Equipment
Total
Cost:
At 1 April 2023
62,168
83,136
66,296
211,600
Additions
Disposals
At 31 March 2024
62,168
83,136
66,296
211,600
Accumulated depreciation:
At 1 April 2023
Depreciation charge for the year
61,926
83,007
66,296
211,229
178
99
277
Disposals
At 31 March 2024
62,104
83,106
66,296
211,506
Net book value:
At 31 March 2024
67
31
94
At 1 April 2023
242
129
371
27

AcfioN RENEWABLES
(A COMPANY UMITED 8YGiIARANTEEI
ANNiIAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS Icont'd)
13. Investments
Group
Movements In fixed a88Ot investments
Unquoted
Investments
Quoted
Investments
Total
Investments
Cost
As at 1 April 2023
Additions
Disposals, at valuation
(Decrease) in cash hold
Realised gain on valuation
Unrealised gain on valuation
As at 31 March 2024
150,000
59,500
961,882
137,146
(113,328)
(9,544)
8,560
48,696
1,033,412
1,111,882
196,646
(113,328)
(9,544)
8,560
48,696
1,242,912
209,500
Carrylng amount
At 1 April 2023
150,000
961,882
1,111,882
At 31 March 2024
209,500
1,033N12
1,242,912
Investments are managed on a discretionary basis by an independent investment broker. The investments are held
at market value.
28

AclloN RENEWABLES
IA COMPANY LIM￿ED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS Icont'd)
Charitsble Company
Investment in Subsldlary
2024
2023
Investments
Movements in flxed asset Investments
Quoted
Investments
Shares In
group
undertakings
Cost or valuatlon
At 1 Aprll 2023
Additions
Disposals, at valuation
(Decrease) in cash hold
Realised gain on valuation
Unrealised gain on valuation
As at 31 March 2024
961,882
137,146
(113,328)
(9,544)
8,560
1,033,412
Carrying amount
At 1 April 2023
961,882
At 31 March 2024
1,033,412
Details of the principal investments in which the Company holds 200/0 or more of the nominal value of any class of
share capital during the year are as follows..
Subsidlary Undertaklngs
Holdlng
Proportion held
of votlng rlghts
and shares
1000/0 Direct
Nature of Bu8lness
Action Renewables
Trading Limited
ARES Market Services Limited
Ordinary Shares
Advising on and Energy
trading in Rerbewables
Ordinary Shares
1000kn Indirect
Trading of electricity
Zevon Energy Limited
Ordinary Shares
1000/0 Direct
Dormant
For the year ended 31 March 2024 neither Action Renewables Energy Trading Limited nor Zevon Energy Limited
retained neither a profit nor a loss and at 31 March 2023 and both companies had aggregate capital and reserves
of£1.
For the year ended 31 March 2024 ARES Market Services made a loss of £95,671 and had net liabilities of
£45,670.
29

ACTION RENEWABLES
(A COMPANY LIMITED 8YGiIARA ￿EEl
ANNUAL REPORT
FOR THE YEAR ENDED al MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Cont'd)
14. Dobtors
Group
2024
Charltable company
2024
2023
2023
Trade debtors
Prepayments and accrued income
other taxes and social security
Other debtors
Due from subsidiary
3,114,245 277,021
119,838 106,547
28,582
37,357
327,333 173,466
2,311
95,287
16,200
87,515
8,870
64,947
2,811,406 2,480,004
2,917,874 2,648,666
3,589,998 594,391
15. Credltors: amounts falllng due wlthln one year
Group
2024
Charltablo company
2024
2023
2023
Trade creditors
Other taxes and social security
Other creditors
Accruals and deferred income
6,828,830 4,674,958
86,128
94,595
31,845
4,017
228,692
560,470
7,175,495 5,377,798
80,202
86,127
3,120
69,945
239,394
72,292
66,353
3,084
51,638
193,367
16. Analys18 of unrestrfcted fund8
Balance
Movement in
Resources
Balance
1 April
2023
Incoming
Outgoing
31 March
2024
Unrestrfcted Funds
4,011,636
2,911,713
(1,985,923)
4,937,426
30

A￿lON RENEWABLES
IA COMPANY LIMITED BYGUARANTEEI
ANNWIL REPORT
FOR THE YE4R ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS {Cont'd)
17. Obllgations under leases
At 31 March 2024, the company was committed to making the following payments under non-cancellable operating
leases as set out below..
2024
2023
Operating leases which expire..
Within one year
49,806
49,806
Within 2- 5 years
99,612
124,526
149,418
174,332
18. Llablllty of member8
Action Renewables is a company limited by guarantee. The liability of the members is limited to an amount not exceeding
£1.
19. Pen8lon commitments
The company operates a defined contribub.on pension scheme. The assets of the scheme are held separately from those
of the company. The cost and charge represents contribulions payable by the company to the fund and amount to
£66,087 (2023.. £60,174). There were no outstanding amounts payable to the pension scheme at 31 March 2024.
20. Reconciliation of net movements In funds to nèt cash flow from operatlng actlvlties
2024
2023
Net movement in funds for the year
925,790
739,179
Growth in investments
62,325
Interest received
(62,165)
Depreciation
61,441
3g,567
Increasel(Decrease) in creditors
1,797,696
1,165,000
(Increase)IDecrease in Wl P
11,037
(10,845)
(Increase) IDecrease in debtors
(2,995,606)
(371,224}
Net cash (ouMow)inflow from operating activities
{261,807)
1,561,677
31