Registration number: 05720606

Renewable Energy Assurance Limited

Contents

Statement of Directors' Responsibilities	1
Balance Sheet	2
Notes to the Financial Statements	3 to 9

Renewable Energy Assurance Limited

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 profit or loss 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.

Renewable Energy Assurance Limited

(Registration number: 05720606)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	36,046	-
Tangible assets	5	16,327	29,671
		52,373	29,671
Current assets
Debtors	6	465,696	500,200
Cash at bank and in hand		2,541,433	1,527,143
		3,007,129	2,027,343
Creditors: Amounts falling due within one year	7	(2,387,298)	(1,781,728)
Net current assets		619,831	245,615
Net assets		672,204	275,286
Capital and reserves
Called up share capital	8	100	100
Retained earnings		672,104	275,186
Shareholders' funds		672,204	275,286

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 Profit and Loss Account.

Approved and authorised by the Board on 23 July 2025 and signed on its behalf by:
 

......................................... V K C Graham Chief executive

Renewable Energy Assurance Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England.

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 23 July 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.

Renewable Energy Assurance Limited

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 23 July 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.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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 Equipment	33% straight line

Renewable Energy Assurance Limited

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

Website development

33%straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess 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 at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life.

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
Trademarks, patents and licences	33% straight line
Goodwill	33% straight line

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.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Renewable Energy Assurance Limited

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

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 25 (2023 - 23).

Renewable Energy Assurance Limited

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

4	Intangible assets

	Goodwill  £	Trademarks, patents and licences  £	Internally generated software development costs  £	Total £
Cost or valuation
At 1 January 2024	36,751	23,924	30,275	90,950
Additions internally developed	-	-	39,507	39,507
At 31 December 2024	36,751	23,924	69,782	130,457
Amortisation
At 1 January 2024	36,751	23,924	30,275	90,950
Amortisation charge	-	-	3,461	3,461
At 31 December 2024	36,751	23,924	33,736	94,411
Carrying amount
At 31 December 2024	-	-	36,046	36,046

5	Tangible assets

	Office Equipment £	Website Development £	Total £
Cost or valuation
At 1 January 2024	123,179	186,252	309,431
Additions	750	-	750
At 31 December 2024	123,929	186,252	310,181
Depreciation
At 1 January 2024	108,849	170,911	279,760
Charge for the year	6,502	7,592	14,094
At 31 December 2024	115,351	178,503	293,854
Carrying amount
At 31 December 2024	8,578	7,749	16,327
At 31 December 2023	14,330	15,341	29,671

Renewable Energy Assurance Limited

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

6

Debtors

	2024 £	2023 £
Trade debtors	411,811	400,272
Prepayments	36,480	25,983
Other debtors	17,405	73,945
	465,696	500,200

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		26,110	89,215
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	157,729	111,856
Taxation and social security		411,102	285,017
Accruals and deferred income		1,776,487	1,276,172
Other creditors		15,870	19,468
		2,387,298	1,781,728

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Renewable Energy Assurance Limited

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

9	Related party transactions

Summary of transactions with parent

The Association for Renewable Energy and Clean Technology. Funds have been advanced by the parent company to provide working capital.
There is a formal repayment plan.

Expenditure with and payables to related parties

2024	Parent £
Purchase of goods	426,424
Amounts payable to related party	157,729

2023	Parent £
Purchase of goods	344,865
Amounts payable to related party	111,856