Don’t be left behind with your SECR reporting

  • SECR

The first Streamlined Energy and Carbon Reporting (SECR) compliance phase is well underway with many businesses in the process of submitting their first reports.

SECR is the mandatory requirement for quoted companies, large companies and Limited Liability Partnerships (LLPs) to measure their annual UK energy consumption and associated carbon emissions. SECR information must be disclosed each year in your organisation’s Directors’ Report as part of your annual filing obligations.

SECR carbon reporting

Why act now?

At BiU we recommend starting today to avoid common compliance reporting issues, such as:

Complex organisational structures that are not properly deciphered to ensure a correct reporting scope

Internal processes are not set up to enable accurate and timely reporting

Insufficient data availability – such as data surrounding transport energy

Limited access to specialist energy and carbon consultants to assist with compliance as deadlines are approached

Last minute compliance meaning higher risk of inaccurate reporting

Heightened risks of delays obtaining consumption data following COVID-19.

Such issues have led to many businesses missing ESOS compliance deadlines, submitting inaccurate or incomplete information. The result of which is enforcement notices and fines for non-compliance!

Climate change

Your reputation is at risk

SECR is regulated and enforced by the Conduct Committee of the Financial Reporting Council. The Committee has the power to enquire into instances where relevant disclosures have not been provided. Therefore the need for timely and up to date SECR information is extremely important and the risks associated with delaying action are significant. 

The information submitted within your publicly availably accounts could be heavily scrutinised by your stakeholders. This is a great opportunity to demonstrate relevant, complete, consistent, transparent and accurate reporting but to also take action. BiU can help develop your energy and carbon reduction programme that will demonstrate your business is taking action to reduce carbon emissions in line with your corporate ambitions. 

Where acceptable accounts are delivered after the filing deadline, the company is liable to a civil penalty in accordance with Section 453 of the Companies Act 2006.

Compliance and reporting

When should I start collecting data for SECR reporting?

We recommend starting your SECR project at least 6 months ahead of your financial year-end.

Our energy and carbon specialists will produce a 6-month interim report to ensure everything is in order to deliver accurate and timely SECR submissions for your business. The below table can be used as a guide for when you should start:

FY Start MonthYear 1 SECR StartYear 1 SECR EndStart Process
JanJan 2020Dec 2020Jul 2020
FebFeb 2020Jan 2021Aug 2020
MarMar 2020Feb 2021Sep 2020
AprApr 2019Mar 2020Act now
MayMay 2019Apr 2020Act now
JunJun 2019May 2020Act now
JulJul 2019Jun 2020Act now
AugAug 2019Jul 2020Act now
SepSep 2019Aug 2020Act now
OctOct 2019Sep 2020Act now
NovNov 2019Oct 2020Act now
DecDec 2019Nov 2020Act now
FY = Financial Year

Top 3 SECR FAQs

Which companies must report under SECR?

– Companies quoted on a stock exchange
– Companies that aren’t quoted, but qualify as “large”
– LLPs that qualify as “large”.

The definition of “large” for SECR purposes the one used by the Companies Act 2006. Your organisation is “large” if you meet at least two of the following criteria:

– your turnover is £36 million or over
– your balance sheet total is £18 million or over
– you have 250 employees or more

What about Brexit and SECR reporting?

Companies that fall into the SECR catchment will still have to report despite Britain leaving the EU.

For further SECR FAQs visit, the energy advice hub, powered by BiU.

Free SECR pocket guide

Free SECR pocket guide

Pop your information in the form below to recieve our free pocket guide on SECR. We’ve a standard guide, as well as a charity guide for SECR.

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