COMMUNITY ENERGY IN PEMBROKESHIRE COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
07574961 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

COMMUNITY ENERGY IN PEMBROKESHIRE COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

COMMUNITY ENERGY IN PEMBROKESHIRE COMMUNITY INTEREST COMPANY

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Peter Davies
Jane O'Brien
Ruth Lovell
Luke Stanley
Paul Cowley


The director shown below has held office during the period of
1 April 2023 to 30 December 2023

Roxanne Treacy


The director shown below has held office during the period of
30 December 2023 to 31 March 2024

Ena Lloyd


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
3 October 2024

And signed on behalf of the board by:
Name: Peter Davies
Status: Director

COMMUNITY ENERGY IN PEMBROKESHIRE COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 11,518 0
Cost of sales: ( 9,514 ) 0
Gross profit(or loss): 2,004 0
Distribution costs: 0 0
Administrative expenses: ( 1,718 ) ( 1,408 )
Other operating income: 0 0
Operating profit(or loss): 286 (1,408)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 286 (1,408)
Tax: 0 253
Profit(or loss) for the financial year: 286 (1,155)

COMMUNITY ENERGY IN PEMBROKESHIRE COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 34,392 34,392
Cash at bank and in hand: 10,453 3,829
Total current assets: 44,845 38,221
Creditors: amounts falling due within one year: 4 ( 7,025 ) ( 687 )
Net current assets (liabilities): 37,820 37,534
Total assets less current liabilities: 37,820 37,534
Total net assets (liabilities): 37,820 37,534
Members' funds
Profit and loss account: 37,820 37,534
Total members' funds: 37,820 37,534

The notes form part of these financial statements

COMMUNITY ENERGY IN PEMBROKESHIRE COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 March 2024 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 3 October 2024
and signed on behalf of the board by:

Name: Peter Davies
Status: Director

The notes form part of these financial statements

COMMUNITY ENERGY IN PEMBROKESHIRE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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 consultancy, other services and grants receivable.

    Other accounting policies

    Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. There is no tax due on the profit for the period as a result of prior period losses. Government Grants Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute. Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.

COMMUNITY ENERGY IN PEMBROKESHIRE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

COMMUNITY ENERGY IN PEMBROKESHIRE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Debtors

2024 2023
£ £
Trade debtors 34,392 34,392
Total 34,392 34,392

COMMUNITY ENERGY IN PEMBROKESHIRE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Accruals and deferred income 7,025 687
Total 7,025 687

COMMUNITY INTEREST ANNUAL REPORT

COMMUNITY ENERGY IN PEMBROKESHIRE COMMUNITY INTEREST COMPANY

Company Number: 07574961 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Community Energy Pembrokeshire (CEP) initiated a two year “Connecting Coastal Communities” project which has been funded through the Welsh Government Energy Service. The project aims to address the gap in engagement between the community and the emerging marine energy sector that is growing in the county and potentially offers significant benefits that can grow community developed energy projects. The fund enables CEP to This fund enables CEP to work with existing community energy groups in the county and with relevant partners, including Pembrokeshire Coastal Forum (PCF), Marine Energy Wales (MEW), Pembrokeshire County Council (PCC) and Community Councils. The development of Floating Offshore Wind offers the opportunity to engage with developers at this early stage and the potential to explore community ownership and benefit models. CEP is the beneficiary of surplus generated through the Prouts Park Community Turbine operated by Renewable Power Pembrokeshire (RPP). There were no funds received for distribution in the 23/24 financial year, but RPP have indicated that it will be possible to allocate surplus in 24/25 due to the improved returns from the turbine.

Consultation with stakeholders

CEP has worked with stakeholders in the Connecting Coastal Communities project through the establishment of the “Social Value Alliance” – a group of partners working to maximise the potential social value from offshore floating wind development.

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
3 October 2024

And signed on behalf of the board by:
Name: Peter Davies
Status: Director