Company Number - N1628674 WARMSAVE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Charity Number - 103200
WARMSAVE LIMIfED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 ocfoBER 2025 CONTENTS Page Contents Officers Dlrectors. Report Independent Exarniner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts io Page 1
WARMSAVE LIMITED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 OFFICERS CHAIRPERSON B Mccrea DIREcfoRS Mrs U Mccrea D Minshull INDEPENDENT EXAMJNER Mrs N Taylor clo Minshull & Co, Chartered Accountants 19 Crescent Business Park LISBURN Bf28 2GN BANKERS Rathbones Investment Management Limited Port of Liverpool Buildings Pier Head Liverpool L3 INW HEAD OFFICE 12 Moss Road HOLYWOOD CO DOWN BT18 9RU Page 2
WARMSAVE LIMITED FINANCIAL STA TEMENTS FOR THE YEAR E14DED 31 OCTOBER 2025 DIRECTORS, REPORT The directors preserit their annual report together with the financial statements for the period to 3 1 October 2025. STATEMENT OF DIRECTORS. RESPONSIBILITIES Company law requires the directors to prepare financial statements for each financial period which give a true and fair view of the state of the 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 5Yltable accountFng policies and then apply them consistentlyi make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors have elected to prepare the financial statements in accordance with UK GAAP and confirm that under company law they must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the company's affairs and of the surplus or deficit for that period. The reporting framework that has been applied is the Charities SORP IFRS 102 (January 2015)). The directors are responsible for keeping proper accounting CordS which disclose with reasonable accuracy at any time the financial posltion of the company and to enable them to ensure the financial statements comply with the Companies (Northern Ireland) Order 1986. They are also responsible for safeguarding the a55ets of the company and hen for taking reasonable steps for the prevention and detettion of fraud and other irregularities. AIMS AND 08JECTIVES The charity's tsbjects are to advance the education of the public relating to energy efficiency and renewable resources by la) environmental preservation and conservation focusing on renewable energy and energy saving measures. {b) research and development lating to energy conservation and renewable energy. to promote sustainable development for the benefit of the public by la} the preservation, conservatlon and the protection of the environment and the prudent use of resources,. {bl the relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities by provision of advice, training and support for the tjnemployed to èdvance employment opportunities; Ic) the promotlon of sustainable means of achieving economic growth and regeneration. to advance the education of the public in subjects relating to sustainable development and the protection, enhancement and rehabilitation of the environrnent and to promote study and research in such subjects provided that the useful results of such study are disseminated to the public at large. POWERS The charity has the power to do anything which is calculated to further its objects or is conducive or incidental to doing so in particular, the charity has power Page 3
WARMSAVE LIMITED FINANCIAL STA TEMENTS FOR THE YEAR EJVDED 31 OCTOBER 2025 DIRECTORS. REPORT (continued) POWERS (contd) to raise funds. In doing so the charity must not undertake any substantial permanent trading activity and must comply with any relevant statutory regtJlations- to borrow money and to charge the whole or any part of the property belonging to the charity as security for the repayment of the money borrowed. to acquire, merge with or to enter into any partnership or Joint venture arrangement with any other charity,. to set aside income as a reserve against fLtture expenditure but only in accordance with a written policy about reserves- APPLICATION OF INCOME AND PROPERTY The property of the charity must be applied for purposes in accordance with section 2 of the Charities Act {Northern Ireland} 2008. MEMBERSHIP Membership 15 open to individuals or organisations who apply to the charity in the form required by the directors and are approved by the director5. The directors may only refuse an application for membership if, acting reasonably and pmperly, they consider It tD be in the best interests of the charity to refuse the application. The directors must inform the applicant in writing of the aSOnS for the refusal within twenty one days of the decision. The directors must consider any written representations the applicant may make about the declslon. The directors's decision following any written representations must be notified to the applicant in writing but shall be final. CLASSES OF MEMBERSHIP The directors rnay establish classes of membership with different rights and obligations and shall record the rights and obligations in the register of members. The directors may not directly or indirectly alter the rights or obligations attached to a class of membership. The provisions in the articles about general rneetings shall apply to any meeting lating to the variation Df the rights of any class of member. TERMINATION OF MEMBERSHIP Membership is terminated if the member dies or, if it is an organisation, ceases to exist; the member resigns by written notice to the charity unless, after the reslgnaiton, there would be less than two members. any sum due from the member to the charity is not paid in full within six months of It falling due,. Page 4
WARMSA VE LIMITED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 DIRECTORS. REPORT (continued) TERMINATION OF MEMBERSHIP (contd) the member is removed from membership by a resolution of the directors that it is in the best Interests of the charity that his or her rnembership is terminated. A re501ution to remove a member from membership may only be passed if the member has been given at least twenty one days notice in writing of the meeting of the directors at which the resolution will be pmposed and the member has been allowed to make representation5 to the meeting. VOTING Every member whether an individual or an organisation shall have one vote. Any organisation that is a member of the charity may norninate any person to act a5 Its representative at any meeb.ng of the charity. the organisation must give written notice to the charity of the name of its repSentative and this representative.may continue to represent the organisation until written notice to the contrary is received by the charity; any notice given to the charity will be Conclusive evidence that the representative is entitled to represent the organi5ation or that his or her authority has been revoked. The charity shall not be required to consider whether the representative has been properly appointed by the organisation. RESULTS The Net Incorning Resources for the year amounted to -£1,718 FINANCIAL REVIEW AND RESERVES POLICY Reserves at 31 October 2025 were £39,909 most of which are readily available funds which are retained towards future activities and costs. Currently the core costs a funded by the surplus of income raised over the direct costs. Expenditure is planned lo provide services to support the company's objectives therefore most expense is directly for the charitable purposes. General funds are unrestricted funds which are available for use at the discretion of the directors in furtherance of the general objertives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the directors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements if identified as such. Restricted funds are funds which are to be used in accordance with specific restrictions imposd by donors or which have been raised by the charity for particular purposes. The cost of raising and administrating such funds are charged against the specific fund. FUTURE PLANS The charity's current funding and cost structure is yet to be fully established however it intends to make such plans in the very near future so that the its services can commence being offered where needed. RELATED PARTIES Two of the charity's directors formerly owned the share capital of Warmfill Limited - it's then main donor. All d are made on an arrns length basis. Page 5
WARMSA VE LIMITED FIPIANCIAL STA TEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 DIRECTORS, REPORT (continued) IMPACT OF COVID-19 The Impact of coronavirus restrlrtlons has now ceased. There has been no material impact on the charity's sustainability due to the low overhead model and healthy reserves. The directors are satlsfied that the charitable company can continue to endeavour to achieve its objectives. GOING CONCERN The directors, having considered the charity's income streams, financial means and strategy for dealing with issues such as the impact of Covid-19, over the next 12-18 months, are satisified that the going concern basis is appropriate. AUDIT EXEMPTION In accordance with the provisions of the Companies {Nll Order 1986 the company is exempt from the statutory audit requirement. TAX STATUS The Inland Reverlue has accepted that Warmsave Limited is a charity and registered it as such. The charity is registered with the Charity Comtni55ion for Northern Ireland at reference No.103200 SMALL COMPANY RULES This report has been prepared in accordance with the special provisions of Part 15 of the Companies Att 2006 Ic461 relating to small companies and in accordance with the Financial Reporting Standard 102 Section la - Stnall Entities. ZNDEPENDENT EXAMINER The indpendent examiner, Nicola Taylor FIATI of Messrs Minshull & CDmpany, Chartered Accountants and Registered Auditor, offers herself for re-èppointrnent as Independent examiner. BY ORDER OF THE commIEE 8 Mccrea Director Date 27 July 2026 Page 6
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF WARMSAVE LIMITED I have examSned the flnancial statements, on pages 8 to 13, which comprise the Statement of Flnancial Activities, Balance Sheet and related notes of Warmsave Limlted for the year ended 31 October 2024. The financial reporting framework that has been applied in their preparation is applScable law and Financial Reporting Standard 102, Charities SORP IFRS1021 and the accounting policies set out therein. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of accounts. The charity's trustees consider that an audit is not required for thls year under sectlon 65 of the Charities Act (Northern frelansd) 2008 and that an independent examination is needed. It is my responsibility to examine the accounts under section 65 of the Charities Act follow procedures laid down in the general directions given by the Charity Commissston for Northern Ireland under Section 65191{bl of the Charitie5 Acl state whether particular matters have come to my attention. Basi5 of independent examiner's Statement My examSnation was carrled out In accordance wlth general directions given by the Charity Commission for Nl, as required under section 65191(bl of the Charities Act (Northern Ireland) 2008. An examination include5 a review of the accounting records kept by the charity and a coparis0 of the accounts presented with those records. It also includes consideration of any unusual item5 or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and con5eouently no opinton is given as to whether the accounts present a 'true and fair. view and the report 15 limited to those matters set out in the statement below. My role is to state whether any material matters have come to my attention giving me cause to believe.. l. That accounting records We not kept in accordance wlth Section 63 of the Charities Act 2. The the accounts do not accord wSth those accounting records 3. That the accounts do not comply with the accounting reouirements of the Charities Act 4. That there is further Information needed for a proper understanding or the accounts to be reached. Independent exarniner'5 Statement I nave completea my examinarion ano nave no concerns In respect or tne matters i. to 4. Ilsteo above ana. ii) connection with following the Directions of the Charity Commission for Northern Ireland, I have found no atters that require drawing to your attention. N Taylor FIATI - Independent Examiner Date 27 July 2026 Page 7
WARMSAVE LIMITED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2025 2025 2024 INCOMING RESOURCES Note Unrestricted Grants and Donations Investment Income 1,671 2,132 1,903 1,903 3,803 RESOURCES EXPENDED EXPENDITURE ON CHARITABLE ACTIVITIES Donations made Restricted Fund Activities Contribution to Overheads 1,629 Total { 1,6291 Total Income less Direct Charitable Expenditure 274 3,803 GOVERNANCE AND SUPPORT COSTS Bank Charges Sundry Expenses Legal and Professional fees Accountancy & Examination Fees 217 196 87 1,774 1,584 Total {1,991) (1,867) BANK INTEREST RECEIVABLE Net Income(Expenditure} for the Year 11,7181 1,936 Gains on revaluation of Fixed Assets 7,923 Net Movement in funds 6,205 1,936 Total Funds Brought Foreward at l November 2023 33,704 31,768 Total Funds Carried Forward at 31 Ortober 2024 39,909 33,704 The notes on pages 10 to 13 form part of these accounts Page 8
WARMSA VE LIMITED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 BALANCE SHEET AS AT 31 OCTOBER 2024 Note 2025 2024 Fixed Assets Fixed Asset Investments 38,910 28,400 Current Assets 999 5,334 Current Liabilities {affloynts due wlthln one year) (30) Net Current Assets 999 5,304 Net A55et5 39,909 33,704 FUNDS Unrestricted Funds 39,909 33,704 Restricted Funds Balance at 3 1 October 2024 39,909 33,704 For the financial year in question the company was entitled to exemption under Section 477 of the Companies Act 2006 relating to small companies. No members have reouired the company to obtain an audit of its accounts for the year in question in accordance with sectlDn 476 of the Companies Act 2006. The directors acknov¥ledge their responsibility for complying with the reqU1MentS of the Act with respert to the accounting records and for the preparatlon of accounts. These accounts have been prepared in accordanee with the provisions applicable to companies sublect to the small companies, regime. Approved, and authorised to be issued, by the Board of Directors on the date below and signed on its behalf by B Mccrea Director Date 27 July 2026 The notes on pages 10 to 13 form part of these accounts Page 9
WARMSA VE LIMifED FINANCIAL STA TEMEhlTS FOR THE YEAR ENDED 31 OCTOBER 2025 NOTES TO THE FINANCIAL STATEMENTS I. ACCOUNTING POLICIES The followlng accountlng pollcles have been used consistently in dealing with items whSch are considered material in relation to the charity's financial statements. (a) Basis of Preparation The financial statements 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 cif Ireland IFRS 102 Section lal{effective I lanuary 20151, (Charities SORP (FRS10211. the Financial Reporting Standard applicable in the UK and Republic of Irelènd and the Companies Act 2006. The company meets the definition of a publlc benefit entity under FRS 102. Assets and liabilities are Initially recognised at historical cost or tran5acton value unless otherwise stated In the relevant accounting policy note. (bl Recon¢iliation With Previous Generally Accepted Accounting Practice In preparing the accounts, the directors have decided that in applying the accoTrunting policies requsred by FRS 102 and the Charities SORP FRS 102 no Statement of comparative items was required. Ic) Preparation of the Accounts on a Going Concern Basis The company reported -£1,718 cash inflow for the year and the directors have Formulated a strategy that will secure the immediate future of the company for the next 12 to 18 months ad on that basis the charity is a golng concern. (dl Income Income is recognised when the company has entitlement to the funds, any perforryiance conditions have been met, it is probable that the income will be ceiVed and the amount can be measured reliably. Income from government and other grants, of a revenue nature, is recognised when the company has entitlement to the funds. any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and Is not repayable to the funder. Capital grants are amortised in line with the depreuatlon of the associèted assets, the purchase of whlch has been, funded by said grants. lel Donated Services and Facilities Donated professional services and donated facilities are recognised as incoThe when the company has control over the item, any ctsnditions associated with the donated item have been met, the receipt of econornic benefit from the use of the item by the charity Is probable and the economic benefit can be fneasud reliably. In accordance with the Chèrties SORP IFRS 102} general volunteer time is not cognISed. On receipt, donated professional services and donated facllities are recognised on the basis OF the value of the gift to the charity which Is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of recelpt. Interest Receivable Interest on hjnds held on deposit is included when receivable and the amount can be measured reliably by the company, norrnally upon notification of the interest paid or payable by the firbancial institution. Page 70
WARMSAVE LIMITED FINANCIAL STA TEMENTS FOR THE YEAR EPIDED 31 OCTOBER 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) Ig) Fund Accounting Unrestricted funds are available to spend on actlvltles that further any of the purpoes of the ctsmpany. Deslgnated fvnds are unrestricted funds of the charity that the directors have decided at their discretlon to set aside to use for a specific purpose. Restricted funds are donations which the donor ha5 specified are to be solely used for particular areas of the company's work. (h) Expenditure and Irrecoverable Value Added Tax Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be requireed and the amount of the obli9ationcan be measured reliably. Expenditure is classified under the followlng actlvity headings.. costs of raising funds comprise the costs of commercial trading expenditure on charitable activities includes the costs of attivities undertaken to further the purposes of the company governance and support costs include all other costs Irrecoverable Value Added Tax is charged as a cost against the activity for which the expenditu was Incurred. Support Costs Support costs are disclosed separately in the Statement of Financial Activities. Tangible Fixed A55ets and depreciation Tangible fixed assets costing £200 or more a stated In the accounrs at original ¢05t le55 depreciation in order to write tsff the cost of fixed assets, over their estimated useful lives, using the following annual rate Fixtures, fittings and equipment 200/0 Straight line Ikl Debtors Debtors and accrued income are recognssed at the settlement amount due after any dlscount offered. Prepayments are valued at the amount prepaid. Cash at Bank and in Hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date OF acquisition or opening of the deposit or simialr 3ccount. {ml Creditors and Provisions Creditors and provisions ère recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amtsunt due to settle the obligation can be measured or estlmared lIablY. Creditors and provis50ns are normally recognised at thelr settlement amount after any discounts. {n} Financial Instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instrurnents. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception tsf bank loans which are subseqtjently measured at amortised cost using the effective interest method. Page11
WARMSAVE LIMITED FINAhlCIAL STA TEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) lo} Charity status and members liability The charity is incorporated. The member5', who indude the directors, liability is Ilmited to Elo 2. YEAR'S SURPLUS ES STATED AFTER CHARGING{CREDITING): 2025 2024 Accountancy Fees Examination Fees 574 1,200 792 792 3. FIXED ASSET INVESTMENTS TOTAL COST at l November 2023 Revaluation 28,400 7,923 at 31 October 2025 38,910 PROVXSION FOR IMPAfRMENT at l November 2023 Charge for the Year at 31 October 2025 BALANCE SHEET VALUE at 3 1 October 2025 38,910 4. CURRENT ASSETS 2025 2034 Cash at Bank and In Hand 999 5.334 999 5,334 5. LIABILITIES {Amounts falling due within one yearl 2025 2024 Accruals and Deferred Income 30 30 Page 12
WARMSAVE LIMITED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 6. FUNDS Unrestricted Restricted 2025 2025 2024 2024 Balance at l November 2024 (Deficitlsurplus for the Penod 33,704 6,205 29,176 4,528 Funds at 31 Ortober 2024 39,909 33, 7Q4 Included within the unrestricted Reseves figure at 31 October 2025 is an amount of £7,923 relating to the revaluation of investments. 7. DIRECTORS The directors received no emoluments or expenses payments during the year. 8. EMPLOYEES Number of employees There are no persons employed by the charity during the year. 9. CORPORATION TAX The company is exempt fjom tax on Income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. Page 13