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Oetavi8 Foundation
Trustees, Annual Rèport and Financial Staternents
Yeai èndèd 31 March 2022
Contents
Page
Reference and administrative information
Trustees, annual report
Statement of Trustees responsibilities
Independent auditor's report to the members of Octavia Foundation
8-10
Statement of financial activities
Statement of financial position
12
Statement of Gash flows
13
Notes
14-24

Trustees, Auditors, Bankers, Investment Advisors & Registered off ice
Trustees
Sandeep Katwala
Gwen Godfrey
Tom Hopkins
David Dunbar
Hugh Thornbery
(Chairl
(Resigned 21 July 20211
(Hon Treasurer)
Executive Director
Denize McGregor (Joined 4 January 2022)
Sarah Shaw (Resigned 2 December 20211
Secretary and Registered Office
Colin Hughes- resigned 30 November 2021
lain Bacon - from 13 December 2021
Secretary
Emily House
202-208 Kensal Road
London W10 5BN
Auditor
Banker
Investment Advisor
KPMG LLP
15 Canada Square
London
E14 5GL
HSBC
Notling Hill Gate Branch
25 Notling Hill Gate
London
W11 3JJ
CCLA
85 Queen Victoria Street
London
EC4V 4ET
Company registered nurnber
03436993
Registored Charity number
1065817

OetavFa Foundation
Trustees, Annual Report and FinarTrcial Statements
Year ended 31 March 2022
Trustees, annual report
The Trustees, who act as directors for the purposes of company law. present their annual report and financial
statements of Octavia Foundation I'lhe Foundalion'l for the year ended 31 March 2022.
Objectives and Actlvltles
Our eommunlty projects tackle inequality by empowering people to Ilve well and ¢onnect.
We have built a unique offer that puls people and communities first, harnessing the skills and commitment of our
colleagues. partners and stakeholders to build and sustain thriving and diverse communities that enrich the lives
of everyone who lives in them. Im'lh the pandemic laying bare pre-exisling inequalities and triggering long overdue
conversations about community, opportunity, housing and health. that offer is just as relevant today - perhaps
even more so - as il was when we were founded in 1865.
Octavia works with a diverse range of pèople living in central and west London who are experiencing Inequality,
younger and older people, those finding il hard lo access work or experiencing financial difficulty through an
inclusive approach. Vve build capacity within individuals, empowering them lo feel more confident, resilient, less
lonely, that they belong and are able to connect with others and live well. We raise awareness of opportunities,
eriabling people lo 8ccess them, building on their skills and using their lalenls, so they achieve the outcomes they
want. improving their wellbeing and financial resilience.
Our face-lo-face activities were suspended for certain periods ol the year due lo Covid restricliong, bul the
Iruslees continued to deliver projects and still mel our ambition in many areas". reaching 3,495 people through
employment and training advice., outreach, befriending and activities for older people," volunteering.. support
grants and food provision", and creative youth aclivilies.
The Foundation continued to work according lo the principles outlined in ovr Communities Strategy 2021-24.
Building on our Legacy, lo reach more isolated and lonely people through our activities and supporting other local
charilies by March 2022.
Public benefit
While developing and aligning our objectives and action plan for the year, the Trustees have taken into
consideration the Charity Commission's public benefit requirements and guidance and are satisfied that the aims
and objectives of Octavia Foundation fall within ils charitable objecb'ves, some of which are highlighted below.
and are delivered for the public benefit.
Significant activities contributing to the achievement of our oblectlves
The following themes classify the variety of aclivilies that we aclively engage in to further our charitable objectives
and purposes for public benefit. A breakdown of the income and expenditure is included within notes 2 and 3 on
pages 17 to 19.
Older and isolated people
YoLJng people and children
Employment and training
Community involvement and volunteerin9
3,495 people have benelilled directly or indirectly from our services during 2021122, which demonslrales our
interest in and commitment lo extending our setvices to meeting growing needs.

Octavia Foundation
Trust&es' Annual Report and Financial Statement$
Yèar ond¢d 31 March 2022
Trustees, annual report (continued)
Older and isolated
eo
le
We have provided a wide range of activities that have supported older, isolated and vulnerable residents and
those living in the local community. These include..
Our outreach, befriending and activities service helped 874 older and isolated people in Weslminsler and
Kensington and Chelsea
Our g2rdening and handyperson service helped 453 older andlor disabled Octavia tenants lo maintain
and improve their gardens and carry out small repairslimprovements lo their homes
Youn
eo
le and children
We have continued lo provide a comprehensive program of creative arts activities for young people al our digital
media centre Base al the Reed. In 21122. our youth team enabled 242 young people lo be connected, creatively
engaged and supported lo grow through a mixture of after school and school holiday activities and creative skills
development projects. These young people attended our activities al total of 1981 times, across 1044 hours of
youth work activities which included a free, healthy hol cooked meal at every session.
Our work expanded this year lo introduce.. a new specialist SEND focused provision., running our first 4 day youth
residential in Essex,. joint film projects with partners including The Avenues, Chelsea Physic Garden, The
Childhood Trust and WAC Arts., screenings at The Childhood Poverty Summit, London Screen Academy and the
Everyman Cinema., and a greater focus on supporting older young people into further education and employment
in the creative arts industry.
Em
lo
ment and Trainin
We have supported 105 people with with information, advice, guidance. volunteering opportunities and support
lo develop their own businesses during 21122, with a record 36 people helped into paid work and work progrèssion
into beller paid roles. There were a lolal of 295 1..1 engagements across the year. As part of the Government's
Kick-slart Scheme we also created three high-qualily, six-monlh placements for young people aged 16-24 as
Digital Content Cfeators and 811 are still in paid employment.
Volunteerin
During the year we have been supported by 406 volunteers who have given their lime freely lo support our
projects, particularly older, isolated people through our befriending and outreach services as well as raising
valuable funds In our shops 49 of these volunteers were through our corporate partnèrships, who were involved
with befriending, virtual activities at our extra care schemes, and our employment and training programmes.
Hardshi
su
ort
Financial hardship continues to affect local residents on low incomes. With funding from charities such as Friends
of O¢lavia and Weslminsler Almshouses Foundation, we have provided 106 small grants to residents in need of
essential household items and items to be used for training and educational purposes. These were used lo
purchase essential household items such as fridges. cookers,
flooring or computer equipment for education, training or work. We have also continued to refer residents in need
lo local food banks across London alongside pre-paid food shopping vouchers, on 261 occasions.
Communil
involvement
Oclavia's Better Lives Community Fund supported a further 896 younger people this year (aged 7-25} through
grants lo small local charities. Ten local charities benefitled from a total of £47,592 granl funding across a range
of areas.. from the purchase of a new bus lo Ir8nsporl young people safely between projects al The Avenues
Youth Club, lo a football and education after-school project run by Kineti¢ Foundation for young people aged 14-
16.

Octavla Foundation
Trustees, Annual Report and Flnanclal Statements
Year endèd 31 Mareh 2022
Trustees, annual report (continued)
Fundraisin
The Trustees have continued to fundraise for our existing work and our planned expansion of activities lo meet
growing needs. This has included fundraising from trusts and foundations, companies and individuals. The
changing economic climate, such as the war in Ukraine and the cost of living crisis. have had an impact on our
fundraising capacity and will continue lo do so during 22123, bul trustees continue to respond and adapt their
approach lo meet the needs of our local community through our projects.
Governance
Octavia Foundation is a regisleied charity, incorporated as a company limited by guarantee operating under a
Memorandum and Articles ofAssociation. 11 was established to further the charitable purposes of Octavia Housing
18 Registered Provider ol social housing) including the provision of housing and amenities, services and
assoeialed facilities for the poor, the disabled and the elderly.
Under a 'uniling direction, scheme authorised by the Charity Commission for England and Wales, the assets and
liabilities of the Octavia Hill Housing Tlusl Gift Fund were transferred to the Foundation on 1 October 2007. One
freehold property and I￿0 long leasehold properties in West London were included in the assets transferred.
Under the terms of the direction, these properties land any surplus they generalel afe to be used to provide
accommodation for persons. preferably women, who are either greater than 50 years old and in necessilous
circumstances or less than 50 years old and in necessilous circumstances by reason ol disability, illness or
accident.
The Trustees meet four limes a year and are responsible for the overall strategy and policy of the Foundation.
They monitor the activities of the Foundation ensuring that Ihese fall within its charitable objectives and are
delivered lor the public benefit.
Day lo day management of operations is led by the Executive Director ar¢d specific activities and projects are
delivered by paid staff and supported by volunteers.
The Foundation is registered with the fundraising regulator and adheres lo their fundraising promise lo make sure
that our fundraising 5s legal, honest, open and respectful.
Connected undertakings
The Foundation Is a subsidiary of Octavia Housing, a Co-operative and Community Benehl Society and
Registered Provider of Social Housing, and an exempl charity.
Financial performance In 2021122
The Foundation reported a delicil of £0.22m Ilolal operating expenditure for the ye8r of £0 91 m offset by £0.54m
in income and £0.16m gain on inveslmenlsl. This is broadly in line with income 8nd expenditure lor the previous
year and demonslrales the commitment ol the Trustees lo ulilise the Foundation's unreslricled reserves in a
planned and considered way to meet growing needs.
Tolal reserves for the year was £1.88m of which £0.69m related to reslricled and £1.19m unrestricted reserves.
Outstanding liabilities due lo OH as al 31st March 2022 was £0.57m.
The Trustees set annual budgets and regularly review perfOrrnan￿ against budget on both income and
expenditure.
Events aftèr the date of reporting
CCLA investment worth £0.98m was sold on 2nd August 2022 to defray the outstanding liability and amounts owed
lo Oclavia Housing of £0.57m.

Octavla Foundation
Truste￿, Annual Report and Flnaneial Statements
Yèar ènded 31 March 2022
Trustees, annual report (continued)
Our future plans
In July 2021, the Trustees agreed a new Communities Strategy 2021-2024 which seeks lo significantly increase
our reach and support more local people in long-term. meaningful ways.
Further, we will bring together setvices and offeis for residents and people in the community, develop diverse
community partnerships and sustainably grow projects. We have..
oplimised the impact of the Octavia Foundation by bringing together fundraising, partnering, grant
funding lorganisation and individuall and monitoring functions into one team.
grown our fundraising capacity and funds lo in the Coming years fully cover the costs of new community
projects and increase new funds for existing proje¢ls.
Reserves pollcy
It is the policy of Octavia Foundation lo maintain unreslricled funds al a sufficient level lo cover management and
adminislralion costs lor al least six months and therefore, current unreslricled funds are being utilised to support
projects delivery.
As per budgeted activities in 2022123, The Foundation will require reserves of some £0.1 m to cover budgeled
expenditure for the year to March 2023 in the event of any temporary interruption lo ils revenue funding.
Currently unrestricted rese￿eS are £1.2m. During the year, the £163k was ulilised in the normal operating
activities.
Investment policy
Surplus cash balances are held in bank deposit accounts. The interest earned is used lo support the Foundation's
charitable projects.
The Founcsalion also has an investment portfolio. The Foundation's objective is to achieve capital growth, which
over the long term will maintain the real v8lue of the assets. and additionally to generate a reasonable level of
income to be ulilised on projects which further the objects of the Foundation.
Investment funds are managed by CCLA and the funds are invested in the COIF Charities Investment Fund which
is a managed fund.
A summary of ils objectives are..
To provide as part of this return a reliable Income stream that maintains its real value over time.
Control volalilily to 750/0 of the UK equity market.
The investments should be suitable for charities and, Inter alia, exclude companies that have any involvement in
the production of landmines or cluster bombs including critical parts, companies that have considerable
involvement in tobacco, the production of pornography and onlinè gambling.
The investment strategy is not constrained by income requirements but, provided there are no large calls on
capital, the Iruslees would expect lo receive a gross income of an amounl or percentage lo be fixed annually by
agreement.
Pay policy for senlor staff
The Executive Director is the key management personnel of the Foundation in charge ol clirecling and controlling,
running and operatin9 the Foundation on a day lo day basis. Details of the key management personnel
remuneration and expenses are disclosed in note 5 lo the accounts.
The pay of the senior staff is reviewed annually by the Group's Nominations and Remuneration Committee and
normally increased in accordance with inflation.

Octavia Foundation
Trustees, Annual Report and Flnancial Statement¥
Year èndèd 31 March 2022
Trustees, annual report Icontinued
Risk management
The Executive Director works with the Trustees lo idenlify the key risks facing the charity which are included in
the Octavia Group's risk map and reviewed by ils Audit and Risk committee
Dlsclosure of information to auditor
The Trustees who held office al the dale of approval of this Trustees, report confirm that. so far as they are each
aware, there is no relevant audit information of which the Foundation's auditors are unaware,. and each Trustee
has taken all the steps that they ought lo have taken as a Trustee lo make themselves aware of any relevant audit
information and lo establish that the Foundation's 8udilors are aware of that information.
This report has been prepared in accordance with the spe¢i21 provisions of Part 415 A of the Companies Act 2006
relating to small companies.
S Katwala
Chair
12 December 2022

Octavla Foundatlon
Trustees, AnnLtral Report and Financial Statements
Year ended 31 March 2022
Statement of Trustees, responsibilities in respect of the Trustses. annual report and the
financial statements
The Trustees are resFX)nsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and regulations.
Company law requires the Trustees lo prepare financial slalemenls for each financial year. Under that law they
are required lo prepare the financial statements in accordance with UK Accounting Standards and applicable law
IUK Generally Accepted Accounting Praclicel.
Under company law the Trustees musl not approve the financial statements unless they are satisfied that they
give a true and fair view of the stale of affairs of the charitable company and of the excess of expenditure over
income for that period.
In preparing these financial slatemersls. the Trustees are required lo..
select suitable accounting policies and then apply them consistently.,
make judgements and estimates that are reasonable and prudent.,
stale whether applicable UK Accounting Standards have been followed, subject to any materi81
departures disclosed and explained in the financial slalemenls., and
Prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the
ch8rilable company will continue its aclivilies.
The Trustees a￿ responsible for keeping proper accounting records that are sufficient to show and explain the
charitable cornpany's transactions and disclose with reasonable accuracy al any time the financial position of the
¢harilable company and enable them lo ensure that the financial slalements comply with the Companies Act
2006. They have geneml responsibility for taking such steps as are reasonably open to them lo safeguard the
assets of the charitable company and lo prevent and delect fraud and other irregularits'es.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included
on the charitable company's website. Octavia Foundation website is being merged with Octavia Housing following
the rebranding Campaign. Legislation in the UK governing the preparation and dissemination ol financial
statements may differ from legislation in other jurisdictions.

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Octavla Foundation
Tru8tee¥' Annual R&port and Financial Statements
Year ended 31 March 2022
Statement of Financial Activities for the year ended 31 March 2022
Ilncorporaling the Income and expenditure account)
2022
2022
2022
2021
Restricted
Unrestrlcted
Total
Total
Note
In¢ome from..
Donations
Charitable activities
Government furlough grant
Investments
361,485
32,679
463
94.725
456,210
32,679
463
48,472
396,341
39,325
38,091
57,996
48,472
Total income
394,627
143,197
537 824
531,753
Expendilure on:
Raising funds
Charitable activities
Ploperty running costs
Investment management costs
143,7421
{405,5641
143,7421
1849,9761
17,4741
112.707)
114,0501
1925,9651
113,8161
112.3891
1444,4121
17,4741
{12,7071
Total expenditure
451,886
462,013
913.899
966,220
Net gain on investments
155,842
155,842
358,507
Not in¢omellexp¢nditure}
57,259
162 974
220,233
75,960
Transfer between funds
Net movgment in funds
57.259
162,974
220,233
75,960
Reconciliation of funds..
Total funds brought forward
749,090
1,348,315
2,097.405
2,173,365
Total funds carried fonvard
691.831
1,185,341
1877 172
2.097,405
All funds relale lo continuing aclivilies.
The notes on pages 14 to 24 form part of these fi'nancial slalemenls.

OctaVl8 Foundation
Trustees, Annual Rèport and Financial Statements
Yaar •nd&d 31 March 2022
Statement of Financial Position as at 31 March 2022
Note
2022
2021
Fixed assets
Tangible assets
Investments
591.700
1.717.194
599,174
1,674,059
2,308,894
2,273,233
Current assets
Receivables
Cash al bank and in hand
48,188
93,121
6,651
67,092
141,309
73,743
Payables: amounts falling due
within one year
10
1573,0311
1249,5711
Net current liabilities
1431,7221
1175,8281
Net assets
1.877 172
2 097 405
Restricted funds
Unrestricted funds
11,12
11,12
691.831
1,185,341
749,091
1,348,314
1.877.172
2 097 405
These financial statements were approved and authorised lor issue by the Board of Trustees on 12 December
2022 and were signed on ils behalf by".
S Katwala
Chairman
Company Registration No.. 03436993
Registered Charity No.. 1065817
The notes on pages 14 10 24 form parl of these financial statements.
12

O¢tsvia Foundation
Trustee8' Annual Report and Financial Statements
Year end&d 31 March 2022
statement of Cash Flows for the year ended 31 March 2022
2022
2021
Note
Cash flows from operating activities:
Nel lexpendilurellincome for the reporting period las per
the slalemenl ol financial aclivilies}
Adjustments for.,
Depreciation chafges
Gainsl{lossesl on investments
Interest re￿1vable
Movement in debtors
Movement in creditors
Net cash used in operating activities
(220,2331
175,960}
7,12
7,474
{143,1351
(48,4721
141,5371
323,460
1122,4431
12.802
(346,1181
157,996)
6,871
62,514
(397,887)
10
Cash flows from investing activities:
Interest received and other investment income
Investment sale proceeds
Net cash provided by investing a¢tivitie$
48,472
100,000
148,472
57,996
370,000
427.996
Change in cash and cash equlvalents In the reportlng
period
Cash and cash equivalents al the beginning of the
reporting period
Cash and ¢a$h equivalents at the end of the reporting
period
26.029
30,109
67,092
36,983
93.121

Octavla Foundation
Trustees. Annual Report and Financial Statements
Year ended 31 March 2022
Notes forming part of tho financial ststements
1 Principal accounting policies
The company is a private charity limited by guarantee in England Icompany registration number. 03436993.
registered charity number.. 10658171. The registered office of the company is Emily House, 202 208 Kensal
Road, London W10 5BN.
A¢eounting convention
The financial slalemenls are prepared on a going Gon￿rn basis in accordance with Accounting and Reporting by
Charities." Slalemenl of Recommended Practice (Charities SORP IFRS 10211, applicable lo charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 and the Companies Act 2006.
Octavia Foundation meets the definition of a public benefit entity under FRS 102.
Going concern
The Trustees have a reasonable expectation that the Foundation has adequate iesour¢es to Continue in
operational existence for the foreseeable future. In forming this opinion the Trustees have had regard lo the risks
identified, lo the controls in place as sel out in the Trustees report and lo the level of unrestricted reserves which
are in excess of requirements for the next year. Accordingly, they conlinue lo adopt the going concern basis in
preparing the annual report and financial statements.
Incoming rosources
Incoming resources consist of government grants, other grants, donations and investment income. Vvhere there
is no conlraclual obligation on the part of a donor or grant awarding organisalion incoming resources are
accounted for in the period in which the funds are received. Where there is a conlraclual obligation they are
accounted for on an accrual basis over the financial year lo which the funds relate.
Investment income consists of dividends on listed investments and interest receivable on bank deposits and is
recognised on the date they fall due.
Legacy income is accounted for on the earlier of cash receipt or nolilicalion of estate accounts being finalised.
Resources expended
Expenditure is ineluded on an accruals basis. Items of ￿pital expenditure in eX￿sS of £500 are included as fixed
assets.
Change Sn depreclatlon pollcy
Octavia Foundation has revised ils depreciation policy which has an immaterial impact on the depreciation
charge for the current year
Fixed assets freehold property
Freehold properties acquired Iincluding landl are slated al eslimaled cost less depreciation and impairment
(where applicable). The eslimaled cost of land and property represents their purchase price and any directly
allribulable eosls ol acquisition.
Depreclatlon of freèhold property
Freehold land is not depreciated on account of ils indefinite useful economie life.
Assels in the course of conslruction are not depreciated until they are completed and ready for use 50 as to
ensure that they are depreciated only in periods in which economic benefits are expected lo be consumed.
14

Octavla Foundation
Trustees, Annual Rèport and Financial Statements
Yoar ènded 31 March 2022
Notes forming part of the financial statements Icontinued)
Freehold properties are split between the structure and the major components which require periodic replacement.
The costs ol repla¢emenl or restoration of these components are capilalised and depreciated over the determined
average useful economic life as follows..
D¢8cri
tlon
E¢onomlc useful Ilfe (years)
Setvice chargeable Gornponents - short life 10 years
Boilers
15 years
Energy improvements
20 years
Kitchens
20 years
Balhrooms
30 years
Cenlral heating systems
30 years
Electric
30 years
Externals
30 years
Service chargeable components - long life
30 years
Windows and doors
30 years
Roofs
50 years
Structure
100 years
Service chargeable components - short life - include warden call system, CCTV. hoist, door entry systems etc.
Service chargeable components - long life - include fire systems, IV aerials, communal healing, passenger lifts
elc.
Externals include steps and handrail, paths etc.
Depreciation is not charged on housing assets in the year of completion bul in subsequent years including the
year of disposal.
Leasehold properties are depreciated over the length ol the lease except where the expected useful economic
life of properties is shorter than the lease., in such cases the lease and building elements are depreciated
separately over their expected useful economic lives
Fixed assets - investment
Listed investments are included 81 closing mid-markel value at the balance sheet dale. Any gain or loss on
revaluation is recognised in the Statement of Financial Aclivilies.
Restricted funds
These comprise freehold property for the provision ol housing lo persons meeting the aims and objects of the
Oclavia Hill Housing Trust Gift Fund. In addition, grants received from outside donors lo fund specific projects
togelher with expenditure not exceeding the grant received are included in reslricled income and expenditure.
Unrestricted funds
These comprise funds that the Tfuslees are free lo use in accordance with the charitable objects of the
Foundation. The Trustees consider that the Foundation would require £1.2m of Ils Iiqu1d assets lo be available lo
continue ils chariiable activities until 31 March 2023 in the event of any temporary inlèrruplion lo ils revenue
funding.
Donated servlces and facilities
The eslimaled value of servI￿S and facilities provided free of charge lo the Foundation by Octavia Housing is
included in Ihe Slalemenl of Financial Aclivilies as an amount of incoming resource and as an equivalent amtsunl
of resources expended. This amount represents an estimate of the costs incurred by Octavia Housing in providing
the services and facilities donated lo the Foundation.

Oetavla Foundation
Trustees. Annual Report and Financlal Statewnents
Year endod 31 March 2022
Notes forming part of the financial statements Icontinued)
Receivables
Trade and other receivables a￿ rec￿niSed al the selllemenl amount due after any trade discount.
Payables
Payables are recognised where the charity has a piesenl obligation resulting from a past event which will probably
result in the transfer of funds lo a third paty and the amount due lo sellle the obligation can be measured or
estimated reliably.
Key Judgements and estimates
Apportionment of costs between actlvttles
Support costs consisting of staff and direct costs have been allocated to the Foundation's charitable
activities b8sèd on the expenditure incurred by the aclivily. Staff costs are allocated based on lime spent
by the employees on the projects whereas costs specifically incurred by the projects are charged directly.
Categorisation of housSn9 propertles
Thè Foundation has undertaken a detailed review of the intènded use of ils housing properties. In
determining the intended use, the Foundation has considered if the asset is held for social benefit. The
Foundation has determined that all properties are held for social benefit and the properties are held at
historic cost rather than as investment properties and carried al fair value.
16

Octavia Foundation
Trustees, Annual Report and Financial Statements
Year ended 31 March 2022
Notes forming part of the financial statements {continued
2 Income
2022
Restricted
2022
2022
Total
2021
Total
Unrestricted
Outreach 8nd befriending service Iweslminslerl
Payroll Giving Donations over £1,000
Friends of Octavia
Heritage Lollery Fund
Value of don8led services from Octavia
Housing
Outreach and befriending service IRBKCI
Bridgepoinl Advise
Grants and donations from organisations under
£1,000
Arts Council
City of London (Covid response)
Cheque donations over £1,000
HPPEC Civil Trustees Grant
Weslminsler Almshouses Foundation
Grants and donations from individuals under
£1,000
Grants and donations from unknown over
£1.000
John Lyon's Charity
The Campden Charities
London Youth Grant Funding
Employee Voluntee¥
Film Creation
We Made It
The Weinslock Fund
Childwick Trust
Kensal Youth Programme
Slilching Polar Lights
Virgin Money Giving donation over £1,000
Kickstarter
Kensington and Chelsea Foundation
Fidelity International Investment
Ground Work
L&Q Place Makers
London Community
Jones Lang Lasalle
Community Fibre
Barclays Charity Donation
Lollery Funding
Total Grant and Donations
141,137
141,137
50,000
38,688
9,675
121.716
50,000
38.688
9.675
28,054
113,2111
36,269
36,269
13,000
36,319
25,000
52,000
13.000
3,000
180
17,800
180
17,800
5,000
14.000
3,740
3.482
7,222
1.915
3.275
3,275
26,300
1,500
16,500
150
5.000
10,258
4.720
13,000
2.880
25,000
1,000
5,000
3,600
26,300
1.500
16,500
150
5,000
10,258
4,720
13,000
12,309
8,916
395
1,699
1,699
13,770
12,620
10,000
23,447
13,770
12.620
10.000
23.447
24,948
4,000
15.000
2,000
4,500
3,000
10,000
396,341
361,485
94,725
456,210
17

Octavia Foundation
Trustees, Annual Report and Financial Statements
Ygar ended 31 March 2022
2 Income Icontlnuedl
2022
Restrictod
2022
2022
2021
Unrestricted
Total
Total
Charitable activity- social housing rents
Furlough Grant
Investments
32,679
463
32.679
463
48,472
39,325
38,091
57,996
48,472
394.627
143.197
537 824
531753
The income from donations and grants was £456,621012021 £396,341) of which £94,725 was unrestricted
12021 - £52,545) and £361,485s was reslricled12021 £343.7961.
Rental income is restricted income for both 2022 and 2021.
3 Charitable actlvlty expendlture
2022
Activity
2022
Support
Costs
2022
Total
2021
Total
Older peoples, activities
Young peoples, activities
Employment & training
Financial inclusion
Community Grants
355,068
97,608
116,535
63.867
47.592
680,670
88,318
24,278
28,986
15,886
11,838
169,306
443,386
121.886
145,521
79,753
59,430
849.976
451,528
155,845
213,249
97,868
7,475
925,965
The expenditure on charitable activities was £849,97612021.. £925.9651 of which £405,564 was unreslricled
12021. £495,767) and £444,412 was reslricled {2021. £430, 1981
The lolal support costs are calculated using varying methods ol allocation..
2022
Charge
2021
Charge
Support cost
By reference to
Public Relations
Governance
Admin
Human ReSoUr￿S
Office Costs
General Expenses
Bank Charges
staff time
Staff lime
Staff lime
Headcounl
Floor area
Usage
2,520
54,017
70,761
953
36.269
4,728
58
169,306
40,419
72,123
1,444
36,269
7,253
157,508
18

Octavla Foundatlon
Trustees, Annual Report and Financial Statements
Year ended 31 March 2022
Notes forming part of the financial statemenls (continued
3 Charitable activity expenditurg {contd.I
The table below sets out how these support costs have been apportioned to the various charitable ackn'vilies..
Public Relations
Governance Inole 41
Admin
Human Resources
Office costs
General expenses
Bank Charges
Total Expenditurg
1,314
28,178
36,912
497
18,920
2,466
30
88,317
361
7,746
10,147
137
5,201
678
431
9.248
12,115
163
6,209
809
10
28,985
237
5.068
6.639
89
3,403
444
177
3,777
4,948
67
2,536
331
2,520
54,017
70,761
953
36,269
4,728
58
169,306
24,278
15,885
11,841
4 Analysls of community grants
The grants programme was introduced in 2018119 10 increase our reach into local communities and lo support
projects delivered by small charitie5 that supported a wide range of community needs.
The Foundation Trustees awarded grants to 10 organisalions tolalling £47,592 las follows..
Organisation Recelvlng Grant Funding
Category
Grant
awardgd
Hornimans Adventure Playground
Adventure Play Hub
Avenues
Meanwhile Gardens
Youth Ac110n Allian
Solidarity Sports
Union Dance Trust Ltd
Tell il parents, Network
Element Creative Projects
Kinetic Foundation
Total
Young People
Young People
Young People
Young People
Young People
Young People
Young People
Young People
Young People
Young People
5,000
5,000
5,000
4,936
5,000
5,000
4,790
4.126
4,340
4,400
Client Group
Number of
organisatlons
awarded
Total
amount
awarded
Older People
Young People
Community
10
47,592
10
47,592
19

Octavia Foundation
Trustees, Annual Report and Financial Statements
Year ended 31 March 2022
Notes forming part of the financial statements (continued)
5 Governance expenditure
2022
2021
Professional fees- external audit
Professional fees consultancy
Staff time allocation
5,088
1,500
47,232
53,820
3,720
526
36,173
40.419
Governance costs are included wilttin support costs expenses as part of the charitable act￿vItY expenditure in note
6 Analysis of staff costs, trustee remuneration and expenses. and the cost of key management personnel
The average weekly number of persons employed during the year was..
2022
Numbor
2021
Number
Full lime equivalent
11
10
As of 1st November 2021 all staff employed with Octavia Foundation was transferred to Octavia Housing under
the terms ol a TUPE agieemenl. The full lime equivalent is represenlalive of the pro-rala contracted hours
worked until 3151 Oclobef 2021.
The total staff costs during the year were..
2022
2021
Wages and salaries
Social security costs
Other pensions cosis
257,787
25,300
35,628
318,715
351,160
32,457
24.658
408,275
The directors are defined as the members of the Board ol Management. the Chief Executive and the Executive
M8nagemenl Team. The Board ol Management and Chief Executive have been paid from Octavia Housing and
have been disclosed in the Octavia Group financial slalemenls.
The remuneration paid lo higher paid staff fell into the following band..
2022
2021
£70,001 10 £80,000
The total amount payable lo Ihe Execulive Director, who was the highest paid key management personnel in
respect of emoluments was £012021 £75,269). Pension contributions of £0 {2021 £7,441) were also made lo
a defined benefit scheme on her behalf.
The Trustees received no remuneration in either year for membership on the Foundation board.. no expenses
were paid lo Trustees in 202212021 nill.
20

Octsvia Foundatlon
Trustees, Annual Report and Financial Statèments
Year ended 31 Mar¢h 2022
Notes forming part of the financial statements (continued)
7 Fixed As$ots- Freehold Property
2022
2021
Cost
Al the start of the year
779,663
779,663
Additions during the year
Al the end of the year
779,663
779 663
Depreciation
Al the start of the year
180.489
167,687
Charge for the year
7.474
12,802
At the end of the year
187.963
180,489
Net book Value at 31 March
591,700
599 174
Property expenses tolalling incurred during the year was £O12021- £1,014)
8 Flxed Asset- investments
2022
2021
Ll$ted Investments
Market value 81 the start of the year
Sale of investments
Gain I ILossl on revaluation of investments
Investment management fees
1.674,059
1100,0001
155,842
112,7071
1,697,941
1370,0001
358,507
112,3891
Market value at 31 March
1,717.194
1.674,059
Investments
COIF Charities Investment Fund
1,717,194
1,674.059
1,717,194
1,674.059
Historic cost of investments al end of year
1,150,086
1,217,960
The inveslmenl manager fees and gain are shown together in the cash flow statement.
21

Octavia Foundatlon
Trustees, Annual Rèport and Financial Statements
Year ended 31 March 2022
Notes forming part of the financial statements (continued)
9 Re¢eivables
2022
2021
Receivables and prepayments
Less provision of doubllul debts
48,188
12,289
15,6381
6,651
48.188
10 Payables
2022
2021
Trade Payables
Due lo Octavia Housing Intsle 151
Accrued Expenditure
1,664
571,113
254
573,031
11,2701
233,614
17,227
249.571
11 Restricted and unrestricted funds
The following assets comprise the reslrieled and unreslricled funds as al 31 March 2022.
Freehold
property
Investments
Net ¢urrent
assets I
Total
Unreslri¢led fund
1,717,194
1531,8531
1,185,341
Reslricled funds
591.700
100.131
691,831
591.700
1,717,194
{431.7221
1,877,172
The liability of members of the Foundation lo conlfibule lo a deficit in the event of winding up is limited lo £10 per
member.
22

Octavla Foundation
Trusteg¥' Annual Report and Financial Statements
Year ended 31 March 2022
Notes forming part of the financial ststements {continued)
12 Restricted Funds
Balancg
l April
2021
Balance
31 March
2022
In¢ome
Expenditure
Octavia Hill Housing Trust Gift Fund -
asset
Octavia Hill Housing Trust Gift Fund
surplus
599,174
17,474)
591,700
196,142
33,142
229,284
PROJECTS
Base al The Reed
NHS Prevent
Welfare and Education (Friends of
Oclavial
Gardening {Friends of Oclavial
Tenants Into Work
Older Peoples Christmas Party
Outreach Project
RBKC Befriending
Digital Media Project
Campden Charities
Volunteer Celebration Event
Weslminsler Almshovses Foundation
Covid Grant
Coffee Mornings
Othei Fundraising
Learn to Earn
TOTAL PROJECTS
69.753
1,565
7,705
17.370
110,2921
76,831
1.565
11,051
34.420
131,0741
6,500
19091
17271
1183.3951
26,361
111,5091
2,603
11,2491
2,504
13,000
4,268
13,770
14,2681
15001
32
1355,094}
1601
19.9031
{1,987)
111,2551
120,0111
6.500
12,361
16951
1386,2021
39,301
43,821
2,116
{12,5041
293
13.000
4,720
37,117
21,572
{129.1531
152,287
13,000
65,233
1,500
17.800
4,720
37,117
21,572
146,2261
361,485
1444.412)
Total Restrlcted Funds
749,090
394,627
1451.8861
691,831
The surplus on the Octavia Housing Trust Gift Fund has been distributed to other projects in accordance with
the Governing Document.
13 Unrestricted Funds
Al 1 April 2021
ln year movements
At 31 March 2022
1,348,314
1162,973)
1.185.341
11 is the policy of Octavia Foundation lo maintain unreslricled funds 81 a sufficient level lo cover management
and adminislralion costs for al least one year.
23

Octavia Foundation
Trustees, Annual Report and Financial Stalements
Year ended 31 March 2022
Notes forming part of the financial statements (continued)
14 Penslons
Octavia Foundation operates a defined contribution pension scheme with the Social Housing Pension Scheme.
Octavia Foundation has no liability beyond ils regular contributions on behalf of employees in respect of these
schemes.
15 Related Party Transactions
Octavia Foundation is a wholly controlled subsidiary of Octavia Housing Ilhe parenll. an exempl charity
incorporated under the Co-operative and Community Benefit Societies Act 2014 and a Registered Provider of
Social Housing. Octavia Housing Is a member and has the power lo appoint or remove the majority of Trustees,
meaning that the Foundation is a subsidiary of the Group. A copy ol the group financial slalemenls can be
obtained from Oelavia Housing. Emily House. 202-208 Kensal Road, London, W10 5BN. This represents the
smallest and largest group for which consolidated accounts are prepared.
During the year ended 31 March 2022 Octavia Foundation had incuried costs and re￿iVed levenues from Octavia
Housing as follows".
2022
2021
Payables balance al start ol year
Nel movements be￿een Octavia Foundation and Octavia Housing for
services
Donation made by Octavia Housing
Payables balance at end of year
233,614
337,499
162,404
71,210
S71 113
233,614
At31
March
2022
£'ooo
At 1 Aprll 2021
£'ooo
Movement
£'ooo
Entity granting loan
Octavia Housing
Oetsvia Housing
Entity recelvlng loan
Octavia Living Limited
Octavia Foundation
548
335
883
40
40
548
375
923
In addition, Octavia Housing made a non-cash donation of £36,269 12021.. £36.160} lo the Foundation
representing the value ol donated office services.
After the reporting dale. the following transactions have occurred which defr8y the reported amounts owed lo
Octavia Housing by ils subsidiaries.
The Board ol the Foundation approved to liquidate £0.98m ol CCLA investment lo defray the oulslanding
liability which was sold on August 2022.
The amount due to Octavia Housing of £571.113 was lully repaid on 2nd August 2022
24