THE_ASSOCIATION_OF_LOCAL_ - Accounts
THE_ASSOCIATION_OF_LOCAL_ - Accounts
The directors present their annual report and financial statements for the year ended 31 July 2020.
The principal activity of the company continued to be that of promoting energy efficiency, affordable warmth, and renewable energy implementation.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Overview
Leadership:
John Kolm-Murray continued in the role of ALEO National Chair, Paul Elliot as National Vice Chair.
Executive:
Four Executive meetings were held during the period August 2019 to July 2020. These meetings enable the executive to plan work and respond to relevant consultations. Due to Covid restriction post March 2020 these meetings were held online
During this period, ALEO responded to consultations run by BEIS and OFGEM.
Secretariat:
Act on Energy have been providing Secretariat services since July 2018 and Angela Eason took on the role as the Company Secretary in June 2020 and the main contact for the ALEO National Secretariat. The ALEO National Secretariat’s role includes maintaining and updating the ALEO website; producing the ALEO magazine and the ALEO e- bulletin; delivering ALEO conferences as well as handling enquiries and many other administrative and financial duties.
ALEO published regular ALEO e-bulletin continued to keep members up to date on developments in domestic energy efficiency, fuel poverty and climate change
ALEO Conferences:
ALEO held one online national conference during the period, which address the challenges of addressing Fuel Poverty and Climate Change
Partner Organisations:
ALEO held one online national conference during the period, which address the challenges of addressing Fuel Poverty and Climate Change
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The Association of Local Energy Officers is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 1.4, Lauriston Business Park, Pitchill, Evesham, WR11 8SN.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The average monthly number of persons (including directors) employed by the company during the year was:
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.