Registration number: 04241430

The Association for Renewable Energy and Clean Technology

Contents

Statement of Directors' Responsibilities	1
Balance Sheet	2
Notes to the Financial Statements	3 to 10

The Association for Renewable Energy and Clean Technology

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance 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 surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting 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 are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Association for Renewable Energy and Clean Technology

(Registration number: 04241430)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	7,078	22,091
Investments	6	100	100
		7,178	22,191
Current assets
Debtors	7	1,775,533	1,123,674
Cash at bank and in hand		1,261,830	1,712,051
		3,037,363	2,835,725
Creditors: Amounts falling due within one year	8	(2,668,885)	(2,211,134)
Net current assets		368,478	624,591
Net assets		375,656	646,782
Reserves
Retained earnings		375,656	646,782
Surplus		375,656	646,782

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income and Expenditure Account.

Approved and authorised by the Board on 12 September 2025 and signed on its behalf by:
 

......................................... Mr T Hutchings Director

The Association for Renewable Energy and Clean Technology

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a company limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
York House
23 Kingsway
London
WC2B 6UJ
England

These financial statements were authorised for issue by the Board on 12 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The Association for Renewable Energy and Clean Technology

Notes to the Financial Statements for the Year Ended 31 December 2024

Going concern

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 12 September 2025 was Stuart Bates BA FCA, who signed for and on behalf of Wenn Townsend.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office and Computer equipment	33% straight line
Website development	33% straight line

The Association for Renewable Energy and Clean Technology

Notes to the Financial Statements for the Year Ended 31 December 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess or deficit of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset or liability at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Intellectual property	33% straight line
Negative goodwill	20% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

The Association for Renewable Energy and Clean Technology

Notes to the Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 26 (2023 - 23).

The Association for Renewable Energy and Clean Technology

Notes to the Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Goodwill  £	Intellectual property £	Total £
Cost or valuation
At 1 January 2024	(68,871)	7,090	(61,781)
At 31 December 2024	(68,871)	7,090	(61,781)
Amortisation
At 1 January 2024	(68,871)	7,090	(61,781)
At 31 December 2024	(68,871)	7,090	(61,781)
Carrying amount
At 31 December 2024	-	-	-

5	Tangible assets

	Office & computer equipment  £	Website development  £	Total £
Cost or valuation
At 1 January 2024	245,452	82,760	328,212
At 31 December 2024	245,452	82,760	328,212
Depreciation
At 1 January 2024	237,012	69,109	306,121
Charge for the year	8,440	6,573	15,013
At 31 December 2024	245,452	75,682	321,134
Carrying amount
At 31 December 2024	-	7,078	7,078
At 31 December 2023	8,440	13,651	22,091

The Association for Renewable Energy and Clean Technology

Notes to the Financial Statements for the Year Ended 31 December 2024

6	Investments

	2024 £	2023 £
Investments in subsidiaries	100	100