Registered number:
Charity number:
298951
(A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
CONTENTS
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2022
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their annual report together with the audited financial statements of the The National Energy Foundation for the year 1 April 2021 to 31 March 2022. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
NEF's articles of association remain as per those updated on 27th June 2018 by the Foundation. The objects of the charity are:
∙
To promote through education, demonstration and research, the innovative, efficient and safe use of energy, and in relation to use, the provision of energy in ways beneficial to the public and charitable and thereby to increase public awareness of energy in all its aspects.
∙
To promote Sustainable Development for the benefit of the public by:-
• the preservation, conservation and the protection of the environment and the prudent use of resources • the relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities • the promotion 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 environment and to promote study and research in such subjects provided that the useful results of such study are disseminated to the public at large.
∙
Sustainable Development means development which meets the needs of the present without compromising the ability of future generations to meet their own needs.
∙
Charitable means charitable in accordance with the law of England and Wales provided that it will not include any purpose which is not charitable in accordance with s.7 of the Charities and Trustee Investment (Scotland) Act 2005. For the avoidance of doubt, the system of law governing the constitution of the charity is the law of England and Wales.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)' and taken advice from their legal advisors Bates, Wells and Braithwaite.
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
Objectives and activities
(continued)
b. Main activities undertaken to further the Charity's purposes for the public benefit
The Trustees consider that the activities of the charity are carried out for the public benefit and in particular adhere to the following charitable purposes as set out by the Charity Commission in its general guidance on public benefit:
∙
The advancement of environmental protection or improvement
∙
The prevention or relief of poverty
c. Activities undertaken to achieve objectives
The Foundation has undertaken a broad range of activities during the financial year in furtherance of these objects.
NEF enjoyed a period of expansion across 2021, winning several new government funded programmes allowing us to deliver more services to householders across our core areas. At the same time, NEF invested significant time, resource and financial commitment to developing much of our underlying business infrastructure including new websites and a new Customer Relationship System (CRM).
Achievements and performance
a. Main achievements of the Charity
Key activities this year included:
∙
Targeting residents at risk of cardio-vascular and respiratory diseases in cold or damp properties through the innovative and expanding "Better Housing Better Health" programme;
• Provision of information and advice services to residents of selected local authority districts in Southeastern England on affordable warmth and ways in which they may reduce energy consumption in their homes; • Management of schemes to enable homeowners to access grant and other funding that that will assist them in improving the energy efficiency of their property;
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Acting as the managing agent for the Local Authority Delivered (LAD) Green Home Homes Grant Schemes across Oxfordshire, Hertsmere and Three Rivers, and Watford Buckinghamshire.
• Marketing and identification of householders who would benefit from governmental grants to make energy efficiency improvements to their home. • Ensuring customers are eligible on the basis of income, location and home EPC rating. • Managing a network of installers to undertake quality installs at customers’ homes. • Providing an aftercare service to ensure customers are content with their home improvements.
∙
Working with vulnerable people, via food banks, to help them reduce their energy use and provide fuel vouchers to help them in specific times of need;
• Promoting tariff switching and the use of smart meters;
∙
Working with school students undertaking the Duke of Edinburgh's Award Scheme through the Foundation's Energy Envoys programme;
∙
Supporting the wider public through web-based information including SuperHomes and YouGen, the latter of which continues to gain over half a million page views per year;
Financial review
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
a. Overview
The charity reported a loss in the accounts of £62,429 in the year to end March 2022. Activities during the year were focused very much on enabling growth through investment, including expanding the underlying business infrastructure and the physical team to better equip our charity for future expansion. NEF has significant reserves (circa £1.19m) so is very much a going concern. In fact, it is the policy of the Foundation to ensure that unrestricted funds (which have not been designated for a specific purpose) should be maintained at a level equivalent to at least six months operating costs, including employee benefits.
b. Covid-19 Impact
Like many organisations, NEF has been impacted by the Covid crisis throughout 2021-22 – although the impact has reduced as the year progressed. As a result, during the financial year reported, the impact has been minimal.
Almost all of NEF's operational activity has been able to continue in a virtual environment. No contracts have been withdrawn as a result of Covid, and no contracts have had their income reduced or redefined; rather certain deliverables have been changed (e.g. a move from 'in- person' to 'online' training) to accommodate rigorous social distancing requirements. As a result, no NEF staff have been placed on furlough and NEF has not had to access any recovery loans or grants from central government. Our business development pipeline for 2022-23 remains healthy and may benefit from opportunities presenting themselves as part of UK Government's 'green recovery' strategy. Should NEF have to deliver services 'virtually' for an extended period of time, we are well placed to do so. We are also fortunate to have significant reserves (set against our operating expenses) so could operate comfortably for 12 months without significant income should we be required to do so - although we do not anticipate a need to do this.
c. Reserves policy
NEF continues to hold healthy reserves which it will use to achieve greater impact in the future. Our infrastructure has been designed to allow rapid expansion to deliver more services to those who need it most.
d. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
e. Financial risk management objectives and policies
The Trustees review risks and mitigation activities on a regular basis, with an updated risk register provided by the Chief Executive at each board meeting. All current risks have clear plans for mitigation and management.
Structure, governance and management
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
Structure, governance and management
(continued)
a. Constitution
The National Energy Foundation is a registered charity (no. 298951), incorporated as a company limited by guarantee, (company registration number 2218531) and has no share capital, and was established to increase public awareness of the efficient and safe use of energy.
The National Energy Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. The Foundation's current programme is described in detail in the Trustees' Report. The Foundation is governed by its Memorandum and Articles of Association, which were updated in 2018.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
The Trustees (but not the President, John Walker, or Patron, Lady Mary Archer) form the Board of Directors of the Company for the purposes of the Companies Act 2006 and hold office for maximum of nine concurrent years. Members may now elect up to 12 Trustees, who are formally appointed at the Annual General Meeting. No Trustee has a beneficial interest in any of the capital of the Foundation or its subsidiaries.
c. Organisational structure and decision-making policies
The Board of Trustees administers the charity.
Trustees have adopted a new policy on term lengths, which states that each trustee shall retire from office at the third Annual retirement Meeting following the commencement of his or her term of office. Whilst retiring trustees may be reappointed, a trustee who has served for three consecutive terms of office should take a break from office. The Board normally meets every other month. The interim Chief Executive was appointed into a permanent role in September 2020 by the Trustees with delegated authority for all operational matters including finance and the day-to-day management of the charity There have been changes to the Trustee Board during the course of this year.
∙
Liz Male remains Chair of the Board of Trustees
∙
Leavers:
• Andrew Wordsworth (resigned as a Trustee on 28th September 2021)
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Other Trustees remaining in post:
• Naveed Choudry (appointed 5th October 2020) • Linda Forbes (appointed 10th March 2021) • Archie Robertson (appointed 5th October 2020)t
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
Structure, governance and management
(continued)
d. Policies adopted for the induction and training of Trustees
In order to obtain a wide spread of experience and appropriate skills the recruitment of Trustees is undertaken through three main methods: a permanent advertisement on the Foundation's website seeking contact from interested parties, advertising in sector related media and through personal contacts and introductions. We anticipate recruitment of more Trustees during the course of the next year, along with recruiting a new Chair.
New Trustees are provided with an induction which features a meeting with the Chair of the Board and/or another member, then with the Chief Executive (and Company Secretary) to familiarise themselves with their responsibilities and legal obligations to the company and their role as a Trustee. Background information on the Company, including a briefing on the role of Trustees and responsibilities of Charitable Trustees and other relevant documents, is provided by way of a written induction pack.
e. Pay policy for key management personnel
The Trustees considered ‘the Board’ and the senior management team collectively comprise the key management personnel of the charity. All Trustees give of their time freely and no Trustee received any remuneration in the year.
The pay of the senior staff is reviewed annually taking into account performance and, where available, market rates for equivalent roles in similar organisations.
f. Related party relationships
None of our Trustees receive remuneration or other benefit from their work with the charity. Any connection between a Trustee (or senior manager of the charity) with a relevant third party must be disclosed to the full Board of Trustees.
As a charity we actively seek to cooperate with other organisations working to improve the use of energy in buildings including other charities, community interest companies, public authorities, building stock owners and energy suppliers.
g. Quality Management
In 2016, BSI awarded the Foundation ISO 9001:2008 certification for its Quality Management System; this was renewed and transitioned to ISO 9001:2015 during 2018 and was reaccredited in 2019, May 2020 and June 2021.
h. Volunteers / Interns
In common with most charities, the Foundation makes use of volunteers, including providing occasional opportunities for people wishing to gain work experience in the environmental sector.
As far as possible volunteers are offered the chance to work on discrete activities that would not be achieved by core staff, to provide defined outcomes that benefit both the charity and the volunteer. NEF also runs a successful internship programme where undergraduates, and occasionally postgraduates, can work on some of NEF's consumer facing projects. The Foundation is delighted that so many of its staff are appointed from volunteer or internship positions. The Trustees continue to be very grateful to all those willing to support the charity on this basis.
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
Funds held as custodian
The Foundation does not hold funds as a custodian trustee, although it does hold some grant funds on behalf of public bodies, principally local authorities in England, that are then paid to householders seeking to improve their use of energy, on terms agreed between the charity and the authority. Such funds are held in specified client accounts, as they do not beneficially belong to the charity, and are not shown in the Statement of Financial Position.
Statement of Trustees' responsibilities
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
∙
so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
∙
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Streets Audit LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NATIONAL ENERGY FOUNDATION
We have audited the financial statements of The National Energy Foundation
(the 'charity') for the year ended
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NATIONAL ENERGY FOUNDATION (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙
the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
∙
the Trustees' Report has been prepared in accordance with applicable legal requirements.
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
∙
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 Trustees' remuneration specified by law are not made; or
∙
we have not received all the information and explanations we require for our audit; or
∙
the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NATIONAL ENERGY FOUNDATION (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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 regulation
∙
we identified the laws and regulations applicable to the company through discussions with trustees and other management
∙
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 the Companies Act 2006, Charities Act 2011, safeguarding of vulnerable adults, data protection, employment, taxation, 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 instances 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 and their 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:
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performed analytical procedures to identify any unusual or unexpected relationships;
∙
tested journal entries to identify unusual transactions;
∙
assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias; and
∙
investigated the rationale behind significant or unusual transactions.
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NATIONAL ENERGY FOUNDATION (CONTINUED)
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 statements and disclosures to underlying supporting documentation;
∙
reading the minutes of governor meetings of those charged with governance; and
∙
enquiring of management as to actual and potential litigation and claims.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Potton House
Wyboston Lakes
Great North Road
Wyboston
Bedford
MK44 3BZ
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2022
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
REGISTERED NUMBER:
02218531
BALANCE SHEET
AS AT 31 MARCH 2022
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
REGISTERED NUMBER:
02218531
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2022
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2022
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
The National Energy Foundation is a private company limited by guaratee incorporated in England and Wales. The registered office is Suite 2.15 Challenge House, Sherwood Drive, Bletchley, Milton Keynes, MK3 6DP.
2.
Accounting policies
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income from grants are recognised in accordance with the terms of each individual grant. Typically, this will be when the foundation has delivered outcomes expected by the agency making the grant although on a longer term grant, such as thise from the European Union, it may be based on staff time, including an allowance for overheads, or other exopenditure made.
Income from contract for the supply of services is recognised with the delivery of the contracted service. All income is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case the income may be regarded as restricted.
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2.
Accounting policies (continued)
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Intangible assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2.
Accounting policies (continued)
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
In the application of the charity's accounting policies, the trustees are required to make judgments, estimates and assumptions about the carrying amounts 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 estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgment:
Entitlement to income from grant funded projects and contracts is judged on the basis of the delivery of project outcomes and assessment of performance against key performance indicators.
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Page 21
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
9.
Analysis of expenditure by activities
(continued)
Page 22
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Page 23
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
11.
Staff costs
(continued)
Page 24
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Page 25
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Page 26
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Page 27
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Page 28
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Page 29
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
19.
Analysis of net assets between funds
(continued)
Page 30
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THE NATIONAL ENERGY FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Page 31
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