LOW ENERGY TRANSFORMATION INITIATIVE C.I.C.

Company limited by guarantee

Company Registration Number:
13859567 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 19 January 2022

End date: 31 March 2023

LOW ENERGY TRANSFORMATION INITIATIVE C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

LOW ENERGY TRANSFORMATION INITIATIVE C.I.C.

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal activities of the company

creating a zero carbon future



Directors

The directors shown below have held office during the whole of the period from
19 January 2022 to 31 March 2023

Susie Diamond
Joseph Jack Williams
Christopher David Andrew Twinn
Clara Bagenal George
Clare Helen Cheke (Murray)


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
16 October 2023

And signed on behalf of the board by:
Name: Susie Diamond
Status: Director

LOW ENERGY TRANSFORMATION INITIATIVE C.I.C.

Profit And Loss Account

for the Period Ended 31 March 2023

14 months to 31 March 2023


£
Turnover: 24,211
Gross profit(or loss): 24,211
Administrative expenses: ( 23,968 )
Operating profit(or loss): 243
Profit(or loss) before tax: 243
Tax: ( 46 )
Profit(or loss) for the financial year: 197

LOW ENERGY TRANSFORMATION INITIATIVE C.I.C.

Balance sheet

As at 31 March 2023

Notes 14 months to 31 March 2023


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Debtors: 3 29,095
Cash at bank and in hand: 1,000
Total current assets: 30,095
Creditors: amounts falling due within one year: 4 ( 29,898 )
Net current assets (liabilities): 197
Total assets less current liabilities: 197
Total net assets (liabilities): 197
Members' funds
Profit and loss account: 197
Total members' funds: 197

The notes form part of these financial statements

LOW ENERGY TRANSFORMATION INITIATIVE C.I.C.

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 16 October 2023
and signed on behalf of the board by:

Name: Susie Diamond
Status: Director

The notes form part of these financial statements

LOW ENERGY TRANSFORMATION INITIATIVE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Other accounting policies

    Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

LOW ENERGY TRANSFORMATION INITIATIVE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    14 months to 31 March 2023
    Average number of employees during the period 0

LOW ENERGY TRANSFORMATION INITIATIVE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Debtors

14 months to 31 March 2023
£
Other debtors 29,095
Total 29,095

LOW ENERGY TRANSFORMATION INITIATIVE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Creditors: amounts falling due within one year note

14 months to 31 March 2023
£
Taxation and social security 46
Accruals and deferred income 29,852
Total 29,898

COMMUNITY INTEREST ANNUAL REPORT

LOW ENERGY TRANSFORMATION INITIATIVE C.I.C.

Company Number: 13859567 (England and Wales)

Year Ending: 31 March 2023

Company activities and impact

In the period of January 2022 to March 2023 LETI have produced the following publications to benefit the community:07.04.22 LETI-CIBSE Net Zero FAQs26.04.22 Circular Economy 1-pager09.01.23 Embodied Carbon Case Studies06.03.23 Retrofit vs Rebuild Unpicker13.03.23 Specification and Procurement GuideMore information and free downloads available from the website here:https://www.leti.uk/publicationsWebinars were held to launch each of these publication and the series is still available to view online here:https://www.leti.uk/wlcwebinarseriesLETI also ran a regional roadshow event in Edinburgh (March 2023)https://www.eventbrite.co.uk/e/leti-national-roadshow-2023-edinburgh-tickets-565066407837?aff=odcleoeventsincollectionNB further roadshow events ran into the next financial year.Regular newsletters are sent to LETI subscribers with updates on LETI activities. The subscriber list is currently 6200 people.

Consultation with stakeholders

The community are professionals within the construction and related sectors who are interested in enabling radically improved performance of the built environment in relation to Climate Change.The community are represented by the LETI steering group formed of LETI members and other actively engaged volunteers. The steering group meet monthly to discuss and agree LETI activities.Anyone wishing to engage with LETI either to obtain information or to offer assistance can get in touch via our website:https://www.leti.uk/get-involved or via email to admin@leti.uk

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
16 October 2023

And signed on behalf of the board by:
Name: Susie Diamond
Status: Director