REGISTERED COMPANY NUMBER: 03958840 (Wales)

REGISTERED CHARITY NUMBER: 1114492

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

FOR

AWEL AMAN TAWE

Page

Report of the Trustees

1

to

6

Report of the Independent Auditors

7

to

9

Statement of Financial Activities

10

Balance Sheet

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

to

28

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charitable company is a non-profit making organisation whose objectives are:

- To advance the education of the public, in particular but not exclusively in energy efficiency and renewable resources for the public benefit;

- The preservation and conservation of the environment through the promotion and use of renewable energy and energy saving measures;

- The relief of poverty;

- To conduct research and development relating to the utilisation of energy conservation practices and renewable energy technologies and to use the research for the public benefit;

- To provide or assist in the provisions of recreational facilities in the interests of social welfare with a view to advancing education and improving the conditions of life for those for whom the facilities are primarily intended;

- The relief of unemployment for the public benefit, in particular but not exclusively by the provision of advice, training and support for the unemployed;

- The relief of sickness and the preservation and protection of good health among people residing permanently or temporarily in South Wales and further afield;

- The promotion of the arts, culture and heritage; and

- Such other charitable purposes as may from time to time be determined.

The charitable company's income derives from contracts and grants from local and central government, charitable trusts, donations and trading activities.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Annual Report - 2024

The overall aims of the charity are to tackle climate change in Wales and enable local regeneration in the Upper Swansea and Amman Valley. We follow an asset-based development approach. To help achieve this, we:

- Engage people in climate change action

- Tackle fuel poverty

- Develop low carbon education and arts projects

- Create jobs

These aims are delivered by Awel Aman Tawe (AAT) through key projects such as Hwb y Gors, and through the two co-ops which we have set up: Awel Co-op (community wind farm) and Egni Co-op (rooftop solar arrays on schools, community buildings and businesses). AAT employs staff to manage these co-ops and develop further projects. We've included information about both co-ops here as we want readers to gain an understanding of the full scope of our work.

Hwb y Gors: We are developing Hwb y Gors, the former village primary school, into a low carbon social enterprise, arts and education, community hub in Cwmgors, north of Pontardawe. It includes a café, arts and education facilities, office accommodation, community transport and car club, and community garden. The site incorporates a sustainable drainage (SUDs) scheme on the former playground, 90kW of solar, a 50kW ground source heat pump, EV chargepoints and battery storage. Work has been funded by over £2m from grants, loan and community shares. Funders include National Lottery, Welsh Government, Neath Port Talbot Council, WCVA, Egni Co-op, Moondance Foundation, Clothworkers Foundation, Garfield Weston, Morel Trust, the Landfill Tax, Awel Aman Tawe and others. A film of the refurbishment can be seen on our YouTube channel https://aat.cymru/were-nearly-there/. We part-opened in September 2025 and will be fully launching the Hwb in March 2026.

We also bought the former New Star pub/hotel which used to serve Cwmgors Colliery and it is one of the oldest buildings in the village. We are looking to develop it for short term accommodation for courses etc being run at Hwb y Gors and will be assessing the viability of a community pub.

Community Projects

We have involved over 1,700 people in a range of engagement projects related to the development of Hwb y Gors (increased from 800 in 2023). This includes textiles, stained glass, ceramics, green woodworking as well as a range of circular economy and biodiversity events and activities - e.g. monthly Repair Café, fortnightly Stitch Club and weekly Garden Club:

- Repair Café has been running since February 2023, including additional school repair cafés with the local school Eco Committees to repair uniforms and toys. In 2024, a total of 194 repairs were completed by our volunteers for 133 people.

- Gardening Club. The Hwb volunteer group built a food garden with equipment from Keep Wales Tidy and continues to meet weekly, growing food and planting wild habitat areas.

We have a core group of volunteers involved. We work with the Local Area Coordinators and Social Prescribers to involve vulnerable people and those suffering from isolation, low-level mental health issues and bereavements.

Co-op development and engaging people in climate action

Combined, our two co-ops, Awel and Egni, reduced carbon dioxide emissions by more than 3,000 tonnes and supplied the equivalent electrical demand of more than 4,000 homes. We are one of the biggest community energy organisations in the UK, generating more than 15,297,981 kWh of clean electricity in 2024.

Through Egni, we installed 683 kWp of solar in 2024 on 8 sites. This is a total of 2070 panels. As of December 2024, we had a total 101 sites across Wales with 5.26 MWp of capacity and the 50 kW ground source heat pump at Hwb y Gors. The solar sites saved £257k in 2024 in electricity costs (compared to £310k/year in 2023) - this decrease in saving is due to the lower onsite electricity costs that our sites have been paying in 2024. This saving is vital to many of our community buildings who are playing a key role during the cost of living crisis, providing foodbanks and other key services.

We have nearly 1,500 members in our co-ops. We have also over 50 schools and community groups who are members and they own over £100k of the shares, giving them a sustainable income stream. We estimate that there are over 50,000 people in these groups which now co-own the Awel and Egni Co-ops. Members also include the local rugby and football clubs, Merched y Wawr, the Food Bank and the Friends of Pontardawe Centre.

The combined turnover of both co-ops was £2.5m and they provided a total of £643,963 of funding to AAT in 2024.

Smart Energy Systems: in the autumn 2024, through Egni Co-op, we applied to the Welsh Government's Ynni Cymru scheme in partnership with Newport and Pembrokeshire Councils and were successful in securing a £1m grant to install:

- 7 x 50kW and 2 x 300kW second life batteries (made from car batteries);

- 16 x EV chargepoints at 3 schools for staff charging (we also secured an additional £75k of match funding from the UK Government's OZEV scheme);

- 1 x Papilio solar/EV charging unit (the first install in Wales of this award-winning design)

The systems are designed to maximise onsite consumption of our existing solar systems and reduce export onto the grid. They are being installed in 2025 and have produced a lot of learnings already.

Education

Our Education Officer, Jen James, continues to deliver a successful programme of work 'We are Energy Warriors'. This engages schools with Egni solar panels and those close to Awel Co-op's wind farm in a range of sustainability and carbon reduction activities. It builds on our partnership with another charity, Energy Sparks and the STEM Ambassadors programme. Energy Sparks www.energysparks.uk has an educational portal for schools which displays electricity, gas and solar generation data in an accessible way, with a range of educational materials. Jen has worked with 1,591 pupils this year and undertook a range of projects with partners and arts facilitators. In total, we ran 141 workshops in schools.

Tackle fuel poverty

We have secured Redress funds to employ two fuel poverty/energy efficiency advisors, Kerry Bates and Lucy Harrison who started in 2024. They both passed their National Energy Action, Domestic Energy Assessor and Retrofit Assessor qualifications. They advised 164 households directly about energy and informed 8,881 people over the course of the year. They supported a range of homes to obtain boiler upgrades, energy efficiency grants and more informal advice on how to reduce household bills and carbon emissions.

Taith Co-op - Community Transport

We have two electric vehicles and work with vulnerable groups in SW Wales to enable them to access services and support. In particular, we work with people with learning difficulties, disabilities, carers and the elderly. We usually work with organisations who are providing a range of support services to those groups - such as Your Voice Advocacy and the Jac Lewis Foundation. Between January 2024 and December 2024, we supported 3,253 passengers (increased from 1,965 in 2023) who have made 5,181 journeys travelling a total of 43,254 miles (increased from 34,497 in 2023).

Other renewables projects We have secured planning permission for a ground mounted solar farm next to our turbines on the Gwrhyd and are looking to build in 2025. The solar will share the grid connection with our existing wind farm and aim to maximise the use of the grid connection capacity during spring and summer.

- We are assessing the feasibility of developing additional wind turbines on the Gwrhyd with a capacity of up to 15 MW.

- We have signed MoUs with a commercial developer ESB/Coriolis for a 20% shared ownership community stake in Y Bryn windfarm near Port Talbot. We are working with Neath Port Talbot CVS (NPTCVS) and Bridgend Association for Voluntary Organisations (BAVO) on the shared ownership element https://www.ybryn-windfarm.cymru/

- We have also signed MoUs with Nadara Ltd for a stake in the Mynydd Fforch Dwm project. Planning permission was secured in December 2024. This project consists of upto 20MW wind farm and 6MW of solar near the village of Tonmawr, Neath Port Talbot. We are working in partnership with NPTCVS https://mfdwindfarm.co.uk

Create Jobs

Awel Aman Tawe, increased its staff from 14 in 2023 to 20 in 2024. This equated to an increase from 11 to 16 full time equivalent staff.

Donors

We would like to thank all our donors and the public for their support in 2024.

FINANCIAL REVIEW

Reserves policy

Unrestricted General Charity Reserves as of 31st December 2024 are shown as £182,829 (note 19 of the accounts).

Trustees agree to hold:

- 6 months running costs for the charity - this is based on the unrestricted Annual Expenditure of £730,417 as shown in the accounts less Solar Panel revenue of £214,354.

- + 10% contingency.

The reserves target has been calculated at £283,835

Free reserves relate to general reserves over and above the reserves target. As reserves target exceeds general reserves there are no free reserves as at 31st December 2024.

Awel Aman Tawe aims to build up reserves in future years to

1) meet the reserves target; and

2) to generate free reserves enable it to continue and to expand the services it currently provides and develop new projects in the future.

This policy will be reviewed annually or when significant changes occur within the organisation.

Investments and other powers

The trustees have the power to expend the funds of the charitable company in such manner as they consider being beneficial for the achievement of the charitable company's objects. They are also empowered to invest such part of the funds as they see fit in the furtherance of the objects of the charitable company.

Financial Statements

The trustees consider that in view of the non-profit making status of the charitable company's activities, the terms "profit and loss" are not appropriate to giving a true and fair view. Accordingly, under the provisions of the Companies Act 2006, the term "profit and loss account" has been replaced by "income and expenditure account", and the words "profit" and "loss" by "surplus" and "deficit".

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The organisation was incorporated on 9th March 2000 and registered as a charity on the 1st June 2006.

Recruitment and appointment of new trustees

The directors of the charitable company are also charity trustees for the purpose of charity law. The rules regarding the number of directors and their appointment, reappointment and removal are contained in the Articles of Association to which reference should be made.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees actively review the major risks which the charitable company faces on a regular basis and we aim to maintain free reserves at sufficient levels to enable the charity to continue and expand the services they provide. The trustees have also examined other operational and business risks which we face and confirm that we have established systems to mitigate the significant risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03958840 (Wales)

Registered Charity number

1114492

Registered office

76-78 Gwilym Road

Cwmllynfell

Swansea

SA9 2GN

Trustees

B Jones

D Stonehouse (deceased 16.12.24)

C McGurgan

B E Edwards (resigned 8.7.25)

M Jervis

Ms H Roach

Ms K J Powis

Dr C M Maby

A W Lloyd

C B Johnes

Company Secretary

D McCallum

Auditors

Bevan Buckland LLP

Chartered Accountants

And Statutory Auditors

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

Bankers

The Co - operative Bank

P.O. Box 250

Delf House

Southway

Skelmersdale

WN8 6WT

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Awel Aman Tawe for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charity SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 23 September 2025 and signed on its behalf by:

A W Lloyd - Trustee

Opinion

We have audited the financial statements of Awel Aman Tawe (the 'charitable company') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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 UK, including the FRC'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.

Conclusions relating to going concern

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.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the 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 Report of the Trustees.

We have nothing to report in respect of the following matters where the 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 take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, 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.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

-

detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud;

-

the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

-

discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud.

-

obtaining an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Charity, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

-

reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;

-

enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-

reading minutes of meetings of those charged with governance;

-

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

-

assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and

-

evaluating the operational rationale of any significant transactions that are unusual or outside the normal course of operations.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 Report of the Independent Auditors.

Use of our 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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Alison Vickers (Senior Statutory Auditor)

for and on behalf of Bevan Buckland LLP

Chartered Accountants

And Statutory Auditors

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

23 September 2025

2024

2023

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

413,248

-

413,248

228,313

Charitable activities

5

Grant Income

64,507

589,337

653,844

445,254

Other trading activities

3

488,678

-

488,678

399,645

Investment income

4

-

-

-

6,244

Total

966,433

589,337

1,555,770

1,079,456

EXPENDITURE ON

Charitable activities

6

Community, energy and environmental projects

732,417

355,474

1,087,891

865,531

NET INCOME

234,016

233,863

467,879

213,925

RECONCILIATION OF FUNDS

Total funds brought forward

1,061,064

1,347,247

2,408,311

2,194,386

TOTAL FUNDS CARRIED FORWARD

1,295,080

1,581,110

2,876,190

2,408,311

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

2024

2023

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

2,497,183

1,461,325

3,958,508

3,412,668

Investments

13

1

-

1

2,001

2,497,184

1,461,325

3,958,509

3,414,669

CURRENT ASSETS

Debtors

14

155,730

375,341

531,071

341,105

Cash at bank and in hand

220,965

(137,986

)

82,979

276,649

376,695

237,355

614,050

617,754

CREDITORS

Amounts falling due within one year

15

(315,625

)

(117,570

)

(433,195

)

(274,700

)

NET CURRENT ASSETS

61,070

119,785

180,855

343,054

TOTAL ASSETS LESS CURRENT LIABILITIES

2,558,254

1,581,110

4,139,364

3,757,723

CREDITORS

Amounts falling due after more than one year

16

(1,263,174

)

-

(1,263,174

)

(1,349,412

)

NET ASSETS

1,295,080

1,581,110

2,876,190

2,408,311

FUNDS

19

Unrestricted funds

1,295,080

1,061,064

Restricted funds

1,581,110

1,347,247

TOTAL FUNDS

2,876,190

2,408,311

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 23 September 2025 and were signed on its behalf by:

A W Lloyd - Trustee

Cash flows from operating activities

Cash generated from operations

1

682,490

433,951

Net cash provided by operating activities

682,490

433,951

Cash flows from investing activities

Purchase of tangible fixed assets

(633,364

)

(607,263

)

Sale of fixed asset investments

2,000

10,081

Net cash used in investing activities

(631,364

)

(597,182

)

Cash flows from financing activities

New loans in year

-

(200,000

)

Loan repayments in year

(85,259

)

328,395

Related party loan movement

25,603

351,460

Interest paid

(185,140

)

(218,485

)

Net cash (used in)/provided by financing activities

(244,796

)

261,370

Change in cash and cash equivalents in the reporting period

(193,670

)

98,139

Cash and cash equivalents at the beginning of the reporting period

276,649

178,510

Cash and cash equivalents at the end of the reporting period

82,979

276,649

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2024

2023

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

467,879

213,925

Adjustments for:

Depreciation charges

87,524

85,605

Interest paid

185,140

218,485

Increase in debtors

(223,250

)

(128,226

)

Increase in creditors

165,197

44,162

Net cash provided by operations

682,490

433,951

2.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

276,649

(193,670

)

82,979

276,649

(193,670

)

82,979

Debt

Debts falling due within 1 year

(84,985

)

(979

)

(85,964

)

Debts falling due after 1 year

(1,349,412

)

86,238

(1,263,174

)

(1,434,397

)

85,259

(1,349,138

)

Total

(1,157,748

)

(108,411

)

(1,266,159

)

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The accounts are prepared in sterling

The charity constitutes a public benefit entity as defined by FRS 102.

Legal status of the charity

The charity is private limited company by guarantee incorporated in England and Wales and has no share capital.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. The results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

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 and in any future periods affected.

Significant management judgements

The following are management judgements in applying the accounting policies of the charity that have the most significant effect on the amounts recognised in the financial statements.

An estimation has been made of the useful economic life of buildings,solar panels, plant and machinery and office equipment.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds ,once any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, once any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Income on consultancy and contracts is recognised on an accruals basis and recognised in the period in which it relates to.

Income from Solar Panels is recognised over the period of electricity generation on an accruals basis.

Management charge income is recognised in relation to the period which the management services apply to, on an accruals basis.

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 bank.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly relate to charitable activities. Support costs include back office costs, insurance and governance costs which support the charity's activities. These costs have been allocated to expenditure on charitable activities

Depreciation

Depreciation of fixed assets is calculated to write off their cost less any residual value over their estimated useful lives as follows:

Freehold land

No depreciation

Freehold buildings

2% straight line

Solar panels

5% straight line

Plant & machinery:

Additions pre 2008

15% reducing balance

Additions 2008 onwards

25% straight line

Office equipment:

Additions pre 2008

15% reducing balance

Additions 2008 onwards

25% straight line

Assets purchased which have a value of less than £1,000 are expensed to the profit and loss account in the year of purchase.

Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Pensions

Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts arc shown within borrowings in current liabilities.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Fixed asset Investments

Shares held in fixed asset investments are held at cost.

Significant management judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. The results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

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 and in any future periods affected.

Significant management judgements

The following are management judgements in applying the accounting policies of the charity that have the most significant effect on the amounts recognised in the financial statements.

An estimation has been made of the useful economic life of buildings,solar panels, plant and machinery and office equipment.

2.	DONATIONS AND LEGACIES

2024

2023

£

£

Donations

413,248

228,313

3.	OTHER TRADING ACTIVITIES

2024

2023

£

£

Contracts and consultancy

15,664

16,764

Co-op Management

179,956

107,874

Solar panel revenue

214,354

251,904

Transport trading income

13,879

9,845

Energy surveys

64,825

13,258

488,678

399,645

4.	INVESTMENT INCOME

2024

2023

£

£

Investment income

-

6,244

Investment income includes interest earned on share capital invested in Awel Co-op and Egni Co-op.

5.	INCOME FROM CHARITABLE ACTIVITIES

2024

2023

Activity

£

£

Grants

Grant Income

653,844

445,254

Grants received, included in the above, are as follows:

2024

2023

£

£

The Energy Savings Trust - Energy Redress Scheme

114,871

-

Awel y Gwrhyd CIC - S106 Community Benefit

64,007

61,902

Younity - Powering Communities Fund

3,000

3,750

The National Lottery Community Fund - People and Places

15,000

-

Welsh Government Energy Service – Community Energy Resource Grant

116,612

-

NPTCBC - Bus Services Support Grant - Community Transport

17,147

7,652

The National Lottery Heritage Fund

99,821

60,000

Coalfields Regeneration Trust

-

7,000

Baily Thomas Charitable Trust

-

3,000

National Grid - Community Matters Fund

-

4,150

National Lottery - Sensory Story of Energy

-

10,000

West Glamorgan Regional Health Partnership

26,900

19,851

NPTCBC Valleys & Villages Shared Prosperity Fund

-

185,000

Tai Tarian Garden Project

-

500

Pembrokeshire Coast National Park Authority - We Are Energy Warriors

-

16,449

Pobl - Repair Cafe

-

1,000

UK SPF Heritage, Culture, Tourism and Events Fund

15,000

65,000

NPTCBC - small grants

8,161

-

Groundwork UK - Bupa Foundation

2,000

-

Welsh Government Energy Service - Gwrhyd Solar & Wind Project

25,000

-

School for Social Entrepreneurs- Royal London Changemakers programme

16,000

-

WWF Cymru Community Grants

1,000

-

Port of Milford Haven Community Fund

500

-

NPTCBC Shared Prosperity Fund - Digital Exclusion

7,000

-

NPTCBC Shared Prosperity Fund - Green Infrastructure

121,825

-

653,844

445,254