REcisfERED COMPANY hlJMBER: iM490634 (England and Wales) REGTSTERED CHARrrY NUMBER: 1128394 REPORT OF THE TRuEE5 AND F]NANCIAL STATEMENTS FOR THE YKAR ENDED 31 MARCH 2025 FOR ocropvs COMMUNITY IYETWORK LIMITED Prestons & Jacksons Parthership LLP 364- 368 Cranbrook Road Ilford IG2 6HY
OOPUs COMMUNITY F4ETWORK LIMITED COEs OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Ch#tr's Report Treasurtr'i Reprt Report of tbe Tr4rte 3 to 7 IDdep¢nd¢nt Eumlner's Rert Statement of FlnDell Aetmtkj 9 to 10 ststement of Flll•n¢l•l PNItIo Notrs ¢0 ¢be FlnA¥el#l SllemeDts 13 ty 24 Detlled S¢temei¢ of FI¢11 A¢tlYlde4 25 10 27
OCTOPUS COMMUNITY IYETWORK LIMTTED CHAIR'S REPORT FOR THE YEAR EIWED 31 MARCB 2025 A Ye•r of Collbortlon Md IMrt This year has been defined by bold partner5hip5 and me4ningful progTe5$ toward ¢rndi¢8tiJ)g pov¢rty aftd tackling th¢ ¢lim¢ em¢rgen¢y. Through ¢ross se¢lor Collaborations on projects such &8 Wature Neighbourhood$'. a four natton project led by the National Trus( RSPB, World Wildlife Foundation. along with the C&op. and 'Fed and Suprrt)rted' in collaboration with Islinon Council. Voluntary Action Islington. Help on Your Doorstep and Manor Garde5 Welfare TrusL we strengthened our conviclion that Systemic change arises when IcKal government, business, civil society. and communities unite behind shared goals. Our continued work with naiional organisations such as Communily Organisers, and the emerging Humanity Project our focus remains on bringing people together to tske action around their CA)mmon concerns. Through focused capacity butldin& we have COlnUed to promote the value and importonce of community c¢ntr¢s as frontline organisalions that are abl¢ lo design and d¢liv¢r IallY driv¢TJ 501ution$ al Scale. Our work in 2024125 demonstrates ihal when seclors collaborate str8t¢gi¢ally they unlwk rOUrCe ¢xp¢rtis¢. and inllu¢n¢e lo transfomi lives and IwJds¢ap¢$. FIDanell Strnrdshlp •Dd Governn¢e We maintsined a strong governance frameworL ensuring 89 pcr¢¢nt of ow ¢xFnditw¢ w¢m dir¢¢tly lo programmes and capacily building. Our audited accounis. 8PPD)ved by an in&pendent examiner, reflecl prudent risk managemeni and iranspareni rew)rtin& We continue to strengthen our financial controls lo susiain growth without compromising ac¢ountsbility. LooklDI Ahead: Vljloll 2025126 Building on our momentum, we will: l. Expand capacity building to Stren our tollectivt fctus on tatkling social injtIce$, prioritising communilies most facing unfair treatment. 2. Continue to focLLS on celerating le&knhip, embedding resilience and peer-rnentoring structures lo ensure that community centres remain as anchor or8anisations. 3. Scale thr¢e flagship ¢ross•sector partnerships into network-wide Frogromm¢s, wilh 18r8¢ts to re&h greater number of vulnerable and marginalised hoLL8eholds. 4. Continue to incubate community-led solutions at th¢ inlersection of poverty aileviation and climate resilience. 5. Deepen l1¢Y engagement to se¢ure long-terni public invutment in wmmunity-led development. Gratltude and Acknowledgements l extend heartfelt thanks lo our trustee& mff. volunteeTS. ¢very parther who shared our vision. Your expertise. passion. and g¢nernsity have pw¢red this joum¢y. To our donors And fundets. your ixlief in ¢ollaboration and our work towards systemic change has been the catatyst for real progress. Together. we are proving th* when we build ¢apa¢ity xross sectors. Finaily, I would like to the Opplty 10 thank Julie and Rosie for all their hard worl passion and dedi¢ation to continue to make the nelwork thrive and grow in th¢s¢ very ch]en8]llg times. That& you from all of us........ Page I
OOPUs COMMUNITY NETWORK LIMITED TREASURER'S REPORT FOR ThE YEAR ENDED 31 MARCH 2025 Fillnclal Oyervlew In 2024125 we deliver¢d strong financial results while suslaining our focus on capacity lIdIng and systemic change. Total income lowered slightly as some multiyear Projects were fi11$ed, however new funding enabled us to expand ¢urr¢nl prOgrane5 even as we maintained prudent cost controls. £20k h&8 been defetred to 25126 and accounls rec¢ivable has been cleattd of an old invoice as bad debt (£8750). We ended t year wilh a modest surplus. reiof(ring our resffv&8 and readiness lo med firture challenge5. - Closing reserves stand at £l13.487. equivalent to JU over four montlks of current operatir4 Costs. - Our targ¢l is to maintsin r¢s¢rves covering 250A of yearly exp¢ThlituYe to ensure resilience againsi funding fluctuations. while monTioring any increas¢s in costs. . We conducted a ¢Ompre1wIve risk &sse&8menL UFrflating our financial risk register to reflect currency exposure. funding dependency. and programme delivery UtInties. Flnanthl CoDtroi8 and CompllD¢¢ We upheld the highest stsndards of finAnciai governance thTOU8h: . Regular ith review of man88em¢nt aonts and c8shflow fore¢*$. - Segregation of duties across authorisation, payment processin& and re¢onciliation, - Annual ¢xterna] audit wilh an unqualifjed opinion from our indep1¢1 examiner. - Adherence io charity reporting regulations and donor Testricttons. Outlook 2025126 We will ¢ontinue to closely monitor our fjnancial risks within the current climAl¢, and aim to maintAin our reserves lo cover 25Yo of CUTrent yearly exp¢nditure. For the next financial year, we aim for income growth of10 percent through multi.year partherships and diversified revenue streams. Key priorities include: l. Reviewing our reserves px)li¢y mid-year lo align with evolving risk profile8. 2. Continue to review our ptIce in line with the ChaTity Governan Code lo ensure responsible and effective practice. These MeureS will ensure we conlinue to siipport leadership and lIlence across our network while safeguarding financial stabillty. l exiend my gratitud¢ to the finance te4m. our independenl examineT5. and all funders whose tru and support underpin our work. To8ether. we will build on this solid foundation to driv¢ transformative ch0n8¢ in the year Ohead. Page 2
OOPUs COMMUNITY NETWORK LIMrrED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also directors of the charity for the purp(w of the Companies Act 20(, present their report with the fmancial aternents of the charity for the yev ended 31 March 2025. The trustees have dopted the provisions of Accounting and Reporting by Charities: Statrment of Recommended Practice applicable lo charities PTepariDg th¢ir xcounts in Kcordance with the Financial Re)rtIng Standard applicable in the UK aThl Republic of Ireland (FRS 102) {effective l January 2019). 0CTIVEs AND ACTIVITIES Oetopus ij an infrajtruetsre Ind epAeity bnildinz ehrity. Our objectives A." To promote for th¢ b¢n¢fii of the inhabithnts of Greater London by &ssoci&ting th¢ local authorities. voluntary organis&tion4 other agencies. and the inhabitants in a common effort to advan ¢du¢alion and to PTovide facilities for the interests of social welfare, for the recreation and leisurethtime 0UtIOn with the object of improving the conditions of life of ihe said Inhabitsn and th¢ promotion of Ihe voluntary sector for the benefit of the public. The Network $h•r¢s five key 8oab: l. Engage: those who le&J and develop inde1¢nI mulii-purpose o)mmunity ¢entres and hub5 in order to share lessons learned and proven PtiCe. 2. IftLspire'. a new approa¢h to eommunity-led development by slwin8 ide4 thinking bigp Staying PQSitive, and k¢eping An open door. 3. MlY&le. change by constantly and ConsientlY reviewin8 what we do so thai we ¢an demonstral¢ impact. . Equip.. those resporL8ible for community-led d¢v¢lopment wilh the skills, know-how and values to incre community participation and foster strong, sustsinabl¢ communiiies. 5. Support.. Ihe on-going development of community l¢adership by facililating routes to a Tange of expenise and peeT-to*eer support. Publle btneflt The TrstS confirn) that they have ¢omplied wilh the duty in section 4 of the Charities Act 2011 to have due regard to publi¢ b¢n¢fit 8uidance published by the Commission in detern)ining the activities undertaken by the Charity. Page 3
OCTOPUS cOMlUN]Ty NETWORK LIMrrED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 ACHIEVEMKNfs AND PERFORMANCE Charitable activities Our Approach to Systemic Change Ow model centres on three interlinked pillars: - Crotysector collalM)ration: We ¢ollaboral¢d on brokering alliances b¢tw¢en local authorities. national chaTiti¢s, and th¢ local voluntary seclor on programmes targeting underserved m)UnitieS. - Capacity building: We Iklivered tailored learniD8 and development in forniing collaborations to &hieve greaier outcomes and key results through collal)orations and joint projects. community leadership and $ustain4bl¢ pr¥ti¢u. equipping over 14 community centres to lead their own initiativ¢s. - tnlluencin8 Systems: By partiCiPgtin8 in and nVenIng multi-stakeholder me¢tin8s roundtable4 we surfaced barriers, such as funding regime ¢hange fuels competition rnther than collaboratiofy and cLdesi¢d policy recommendations wilh decision-makers. This holistic framework erkqures th81 our we and ow ¢ollaLx)r•tors own the solutions, while our network grows the potential to accelerate repli¢ation a1 scale. Hlghllgbts of the Ye•r Launched the Fed and Supported, pilol project in CollarntiOn with Islington Council, Voluntary Action 151in8ton, Help on Your fh)oNep, and Manor Gardens Welfare Tn1 to infomi a shift in fi)od system traAsformation and systemi¢ change through place-based irnetventions. Taking the on Creating and rllitating a Corntnunity of Pra¢li¢e &s & means for shared learnin& improved practice longer-tern) suslainability of Community fo( provision ¢.g. exploiing new models of approach such as'food ladders,. Implemented a Cfrdesled OKR DhbOard for ihe Network to strengtrm ¢ollaborntion within ihe Network* providing a shared pltytfomi for trackin& planning and delivering ¢o11oborative and joint-projects. - Implemented a programme of work io investigate and Teport on pay and PAY scale diff¢rentia15 b¢twttn the statutory (local authority) and voluntary sector. - Cfrdelivered 57x cst of Living events. with 361 residents attending. benefitting h0ChOld5 of It 648 people. or those attendin& 73•/• were from dhnicaily diverse bkground$, and 70% who were aged 55+. Across all evenl5. 880/0 of atteThlees r¢wied feeling ery, or 'quite' ¢on¢erned at1 the cost of living. At each evenL those allending r¢¢eive at le&st five types of supp)rL - Pra¢lIVe]Y pyrt]¢ipcd in several fonjms. advisory knards and leadership groups to shape practice and policy within the VCSFE and stsiu¢ory s¢ctc(. undertaking a review of the Jsliiigton Compact 10 Set the foundation for ¢ross4e¢tor working. . Embarked uwn a new ¢ollaiM)rntson with Community OrgawseTS Ltd and the Humanity Projecl to create assembly culture within communities through the pjwerful aci of listenin& and for a bortom-up, people-led approach. Page 4
ocropus COMMUNTTY NETWORK LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 - Embarked un a new colla1tion with Islington Council and the National Th1 io explor¢ the Nitential of a longer-tsrn] relationship, emeTging from Nature NeighbOurhts aThl all8d to the Nationa] Trusvs new strategy, and Nature Toww and Cilics. - Launch¢d the 'Utv¢ling Food, project in collaboration with Milthnay Community Centre and the North London Community Fund. creating two new comFK)5ting hubs in the borough ond encouraging residents to shift mindsets to UF6ycle food waste. to improve soil for communities io ¢ome logether to grow food. ca Stsdy: Nxtllre Ne*hbourhoodJ Nalure Neighbourh)d$ is a four-nation project led by the National T1. RSPB, World Wildlife Foundation and the Co-op. Underpitmed by the People's Plon for Nature and supported by Islinglon Council. a mmunity-led Nature Neighbourhoods Han is being cfrcreated to bring alxiut lasting change to neighbourhood greenin& b1(1verS11Y Jnd ¢limate Mitigatio So far. our project in Islington h&8 achieved the followin8'. - Food Grown by and for the Community: 285.7k8 food growm sNviDg477kg C02. equivalent to 3994 meals. - Land reclaimed and used to incr¢os¢ urban b141ver$iry.' 1456.7m4 of land used rOsS three newly created Nature Anchors- communiry talYSts in heal and flood risk neighbourhoods. - Treepits and 0hards. creating three new orchards and a rAecklac¢ of tr¢¢pits across the neighbourhood to rme¢t nature destinations. - Ilpcycling and Redu¢1 Food Waste: creation of three new community ¢omposlin8 siles. tronsforming 850k8 of food waste into 61)0 litr¢s of fertile compost. - Nature Walks.. 9 wple ITOirtedlertgaged as Walk Lthlers, ¢desIgning 16 unique nature and hea]th based walking routes for people with different capabilities. - Environmental Conversations: 77 people engaged in wid¢ rar¢gin8 community conversations io co4reate neightrt)urtwod plan for nature and people. Case Stsdy: Fed #nd Supported The 'Fed and Supported. pilot project a collaborntion between Voluntary Action ISlingtO Help on Your Doorstep and Manor Gardens Welfare TnL8t. A yearlong proje¢L njnning from June 2024 to May 2025, the project fo¢ed on systemic change in th¢ fwj systems, working with food aid providers acTOSS the borough. O¢topus' role in the project w&8 to facilitAte a Community of Practice for shared learnin& and conversations abo more susiainable models for food provision. The Community of Praciice worked together to desi Siandards Framewo and Charter. to be sharwj with provid¢r5 across the borough. ensuring an approach is adopi¢d thai 5ecure5 a high level of 5eTrice for all those receiving food aid in the borough. Octopus also delivered a series of Ci)mmunity Organising workshops with food provision volunteers and staff. enabling them lo embed the approach into their provision. Throughout the workshops, participants were giving the opportunity to devise pilot project proposals. with sm411 pols of funding available for participanls to deliver these projects wiihin their food provision. Within the short pilot projecL Fed and support has achieved the following: - The creation of the Islington Fr Providers Stsndards Framework and two charters. for internal arxl external use by the borough'5 food provision. - 6 Community Organising workshops deliverf pl an online learning programme. for those involved in f(MMI provi510 with ail proving positive feedback and sharing that W will embed the approach into their work. - 5 pilot projects delivere¢ including listening ¢ampaigTh% skills building workshops shared community mea]s. - Over 1.000 residents Teached through the pilot proje¢ts. - 15 local residents trained &8 bilingual navigalork Page 5
OCTOPUS COMMUNrrY I¥ETWORK LIMrrED REPORT OF THE TRUSTEES FOR THE YEAR EYJ DED 31 MARCH 2025 - Over 190 knus¢holds with language barriers hew to acce55 loca] services. - Over 300 residents using food provision supported to a¢¢ess wrap around services - 40 residents r¢f¢tt¢d to voluntttring roles within food provision. FllYANCIAL REVIEW TrDsAetions and FiDTr¢il poiition During Ihe year the chariry met its expendilure of £322,509 (2023: £401,815) through a combination of grants. fees for services provided, donations from individuals and from reserves brought forward from the previous year. The chaTity has ¢arri¢d forward reserves of £172.586 (2023: £232.556) of which £57.504 (2023.. £109,577) is re3triCted. The trw81$ are gratefill to the fimders and tndividuals for their continued support. Availability and #deqry of M¢ts oltch oftbe fDnds The board of trustees IS 5ati5fi¢d the ¢harity's assets in each fund are available and adequate to fulfil its obligallo$ in respect of e&h fimd. Reservej poliry The trustees are reviewing the rewv&% policy for the charity. Their aim is to have six months wi)rth of overheads as gerKral r¢s¢rvcJ. STRUCTURE. GOVKRNANCE AND MAI¥ACEMENr Governing doellment The charity is ¢ontrolled by its governin8 do¢umenL a rntmoJ8ndum of articles and 8ssoclation and incorporation ¢ertifi¢at¢ and constr1teS a limited npany, limited by guarantee. as defin by the Companies Act 2006. Website: REFERENCE AND ADMINIRATIVE DETAII Regis¢ered Compny numbtr 04490634 (England and Wales) Reglstered Charlty numb¢r 1128394 Regtered offJ¢e 129 St Jolul's Way 1s1ington London N19 3RQ Page 6
OoPUs COmhJu NETWORK LLrrED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Th151e The Trustees and Dlrtttors who serY¢d th¢ eommmnlty d•ring Ihe )r ended 31st MaT¢h 2025 •s At the d8t #re #ppr•v¢d: Mr Paul F¥rL¢ Mrs Irene Winier Mr Colln F Adirns Mr5 Elaine Diiyn MDffren Mr Adam T•ylor Parr Ms Teeno M Phillips Mr Pairick Hetv> Radcliffe InpedOht ExAml•tr Patel BA{Hons) FCA.BkP PreAorts & JacksoTU Plrtnership LLP 364- 368 CTrthook Road Ilford Eskx 102 6HY .Q.3lill ZS Apprned by wderofihe brd oftrys*es on... siwKd M Its betrolf by.. PaÉe 7
INDEPEI%DENT EXAMINER'S REPORT TO THE TRUSTELS OF OCTOPUS COMMuNTfY IYETWORK IJMrfKD IndepeDd¢nt eJ•miDer'8 f¢iKlrt to the trusteu of Octopms Community Network Llmlted {'Ihe Company.) I rert to the ¢harity on my examination of the xcounts of the Company f4Jr the year eThded 31 March 2025. Re4p0481bUIt1¢8 of report As the charity's trustees of the Company (and also its di1r$ for the Purposes of company law) you are responsible for the preparation of th¢ accounts in 8K¢Ord with the r¢quiTments of the Companies Act 2(X16 (lhe 2006 A¢t'). Having 5ati5fied myself thai the a¢¢ounts of the COMIY are not r¢qw¢d to be wdited under Part 16 of the 2(106 Act and are eligible foT indepertdeni examinatiorn I in respect of my examination of your charity's %counis as carried Section 145 of the Charities Act 2011 (the 2011 A¢V). In canying ou¢ my examIn10n I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Aci. IT1d*ndeDt exam1¢,8 •t#tem¢Dt I have Completed my examin10n. l Confirm thal matkrs bave come to my artenlion in ¢onnectson with the examination giving me cause io believe: accounting records were not kept in respect of the Company as required by Section 386 of the 21>)6 ACL. or the ntS do not a¢cord with those rxords: or the accounts do not comply with the 4ccouniin8 requirements of Section 396 of ihe 2006 Act oth¢r than any requirement thal the wcounts give 4 and fair view which is not a matter ¢on5idered part of an independenl ex¥rninalion' or the a¢counts have nth been prepwed in accorda¢ with the metPK)ds and priJKiples of the Statemenl of Recommend¢d Practice for accounting and repyting by charities (applicable to charities preparin8 their accounis in (Ord&re wilh the Financial R¢portin8 Standard appli¢able in the UK and Republic of Ireland (FRS 102)). I have no c4)nceff6 and have ¢ome across no other matters in wnne¢tion with thc examinalion to which attention should be drawn in this rel in ordtt to enable a pn)per understanding of the accounts io be reached. 11 Anw¢r Patel BA(Hony) FcAFP Prestons & Jacksons Partnership LLP 364- 368 Cranbrook Road Ilford Essex IG2 6HY Page 8
ocropus COMMUNTfY1¥4ETWORK LIMrrED STATEMEiYf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 31.323 Tot81 fllnds 31.3.24 Total funds Unreslricied Restricted funds Notes INCOME FROM Grants 42,483 A9S181 237,664 262.539 Investtnent income 900 To¢1 43J83 EXPENDfTURE ON Bad Debi &750 8,750 ChrltAbl ctlYltles LBI VCS Core LBI Andover Jnspircs LBI Estates Growing and Comrnunity Plant Nursery Elizabeth House BlaCkstk Tn City B Tidge Foundation, Brid8in8 Divides Climate Action Fund Breaihe l$lington Council, Highbury (Adran1 Gardens Royal Menc&p Siety Warni Spaces Voluntary Action Islin8ton, IA)cal W¢llb¢ing Networks Packington Cost of Living Events Commissions DigiGuide LIF Winter Festival Nature Neighbourhoods Bloornin Gardeners Highbury Grove Soil fwd SWLW Cont Cosi of Living Resideni v0herS Tufnell Park Woodland Garden Fed and Supponed Up¢y¢ling Fiiod Peabody CAl¢donihn Park Golden Lane LIF - Branching Out Sussex Close Boston and Nailour 36228 36328 109 48.754 11.431 4109 11.971 11,971 22,546 ,777 47,840 10.189 8,053 31,616 31,616 3,835 2,571 78.700 1,655 1,655 803 14.241 3391 13,578 23.534 4,990 538 705 491 6.345 14,241 3291 891 17,8J3 127 10209 17013 127 10209 .074 15.1)00 10.917 2.530 985 3,956 41,441 30,D68 320 985 3,956 41.441 30.068 3211 5.91MI 755 36 1418 4068 755 36 2,418 The notes forn) part of these fmancial statements Page 9
ocropus COMMUNITY NETWORK LIMITED STATEME OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 31.323 Total funds 31.3.24 Total funds Unrestricted Restricted funds fund Notes LIF- Highbury Grove Winter F¢stival Tyndale fvtansions St Luke GaTdening Hub 493 756 493 756 Total 191 236 3 322 509 NET INCOMEI(EXPENDfnJRE) (1,59S> 1ffi91 (59,970) RECONCILIATION OF FUNDS Total funds brought forward 115,082 57304 172¥6 232.556 TOTAL FUNDS CARRIED FORWARD 174 172586 The nole5 forni part of these financial statements Page 10
OCTOPUS COMMUNrrY NETWORK LIMITED STATEMENT OF FINANCIAL POSITION 31 MARCH 2025 31J.25 31.3.24 Noles FIXED ASSETS Tan8ible assets 12 3rt98 4.433 CURREiYf ASSETS Debiors Cash at bank 13 3(1,978 23,563 159,316 21JW6 182,879 CREDITORS Amounts falling due within one year 14 {41.107) (14.726) NET cl1RR AETs 170 779 168 153 TOTAL ASSETS LESS CURRENT LIABILITIES 174377 172,586 NET ASSETS 16 Unrestricted fvnds R¢stri¢l¢d fimds 113.487 115,082 TOTAL FUNDS 174 172 586 The charitsbl¢ company is entitled to exemption from audil under Section 477 of the Companies Act 2006 for the year eThled 31 March 2025. The menjbers hav¢ not required the ¢(mpY to obtsin an audit of its fmancial ststements for the year ended 31 March 2025 in ¢Ordance with Section 476 of the ComF>anies Act 2006. The trustee5 acknowlge their responsibilities f (a) c8uTing that Ihe chitable company keeps *¢OUrfin8 records comply with SedioLs 386 and 387 of the Companies A¢t 2(K16 and O)) preparing financial ststements which give a and fair viww of the stste of affairs of the charitsble ompany as at the end of each financial year of its swplus or deficii for each financial year in accordance with the Tequirements of Sections 394 4Th] 395 and which othenvise comply with the requirements of the Companies Act 2006 relating to fina11 statement& so far appli¢able lo the charitable company. The notes fonn PArt of these financial statements Pagell continued...
ocropus COhIMUm NETWORK LIMITED STATEMENT OF FTh'ANCIAL POSITION- conllllued 31 MARLII IU25 Tl% fin•ncial Stalen5 have been PIed in with ihe wi$ion% ¥ppliable io ¢lwiiable companie5 Subje lo th¢ gnall companles re8im al slaiem¢nts approvd by Bc•rd of Tnbe5 WKI a15¢d fér ISS 4m aThJ sipRd N its behlf by: Truste¢ rroLEor: E.TJ. (Yknlfv .rbir¢okni., fii, p(l Kr2 The noles form ofthese fin¢1#[ stat¢mcnts Page 12
OCTOPUS COMMUNITY IYETWORK LIMITED NOTLS TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 AccouriNG POLICIES Basss of preprlllg Iht fltsn¢tsl sts¢¢ments abd Js¢Mment of going ¢oneern The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in xcordance with the Charities SORP Rs 102) 'A¢¢ounting and Reporting by Chuities: Sialement of Recommended Practice applicable io chariti¢s preporing th¢ir a¢¢ounls in a¢¢ordance with the FiDancial Reporling Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),. Financial Reporting Standard 102 The Financial Reportin£ Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The trustecs nSIder that th¢r¢ are no matcriai uncertsinties about the charity's abiliiy lo continue &8 a going concern. In¢ome All in¢ome is rolS¢d ID the Stal¢ment of Financial A¢tivities once the charity has entiiletnent lo the fund& it is probable that the irKome wiu be received and the am01 be measlred r¢liably. DonatioThs are recognised when Ik Clwity been notified in writing of both the amount and settlement dAl¢. In the eveni that 8 donation is subject to ¢ondition$ that require a level of perforn)ance before the charity is entitled to the funds. the income is deferred and nol r¢w8nis¢d until either those conditions are fully meL or the fulfilmem of those Condilion is wholly within the control of the charity and is probable that ih05e conditio will be fulfilled in the rep)rting period. Eipendlturt and Irreeover•bl vat Liabilities are re¢ognised as expenditure &g soort as there is a legal or ¢onsDvctive obligation committing the charity to ihal expenditure, it 15 probable that a Irdn5fer of ecimomic benefiis will be r¢quired in settlement and the amounl of the obligalion can be measured reliably. ExF¢ndilure is Counted for on an a¢crua15 basis and h&8 been ¢IsIfied under headings that aggregate 811 cost relaied io the category. Where costs cannot be directly 2ibuted io particular headings they have been allocated io activities on a b&si$ ¢onsistent with the use of resources. Irre¢ovcrable VAT is charged as a cost against the activity for which the expenditure incurred. Tnglble tlxed *uets Tangible fixed &ssets are ststed at histi)ric8J wst less aU[nUlated depreciation a1 any accurnulated impairnie losses. Ilistori1 ¢ost ilUdeS expxnditure that is directly attributsble to bringing ihe asse¢ to the lo¢atirn 8nd ¢ondition ne¢essary for li to be capable of operating in the manner intended by monagem¢nt. Deprecialion is charged so as to allocate thc cost of wets l¢ss I11r residual va]ue over their estimaied useful lives. using either a straight lin¢ or red]ng balance Meth. &8 indicated below. D¢pre¢iation 1$ provided on the following bA8iS: Plant and mathin¢ry- 20% on reducing balance Computer equipments - 25% on redu¢ing balance The assets, residual values, usefjjl lives and depreciation methods are reviewed. and adjusted prospectively Af appropriate. or Af there is an iTrJiti0n of a significant change since ihe189t reporting date. Page 13 continued...
OCTOPUS COMMUNITY NETWORK LIMtrED NOTES TO THE FINANCIAL STATEMENTS - COD¢inued FOR THE YEAR ENDED 31 MARCH 2025 AccouNfiNC POLICIES. coAtiDu¢d Th¢ ¢harity is ¢x¢mpt from corporation tsx on its chwitsble artivitie FuDd t¢ountlDi Unrestricted funds can be used in ¢dance with the clwitable objtiveS at the discTetion of the R¢stricted funds can only be used for Iwticul8T Testrictrd pulSe5 within the objects of the chariiy. Restrictions arise when specified by the dLr or when funds are raised for particular restricted purpose& Further exp18nation of natUTe and pwpo5e of eath fund is included in the notes to the financi ststements. D¢bto Basi¢ fllMncia] assets, including trade and other debtors, are initilY Te¢ognised at transaction pri¢e, unless the arrangement constitutes a fuwKing tratiOn, where the tr4nsa¢tion is measured at the present value of the future receipts discounied al a market rate of interest.such assets are subs¢quently C4rri¢d * 8mortis¢d cost using the effective int¢r¢st method. less any impairmeni. Credltorl Basi¢ fancIal liabilitie& including trade and other creditors. loans from third partie5 and loans from related parties, gr¢ initially recognised trw]sa¢tion pri¢e, unless the arrangemeni constitutes financing transaction, where the debt itruMent is m¢&sured at the present vuiue of th¢ future payments discount¢d at a market rate of interest. Such instruments are subsequently ¢arried at amortised Cost usin8 the effedive interest Meth1. less any impaiCnt. FIDndAI InJtrum¢mts The Charity only as financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basi¢ fin8ncio1 instruments are iniiially recogni at tr8nsaction value aftd subsequethly measur¢d Al Iheir xttl¢ment value. Goln% ¢oncerD The ¢harity undertakes on various ways io manage and to s¢cute future funding. The trustees are confident that they would hav¢ suffKient funding to ¢ontinue operating &8 a 8oin8 con¢ern. It is for this reason the count$ have been prepAred on a going corKern bo5iS. Pag¢ 14 continued...
OCTOPUS COMMUNITY NETWORK LIMITED NOTES TO THE FINANCIAL sTATEmES- continued FOR THE YEAR ENDED 31 MARCH 2025 GRANTS 31J25 31.3.24 3,183 LBI VCS Core Miscellaneous Income City Bridge Foundatio Bridging Divides LBI Housing & Strategy Boston & Nailour LBI Loul Initiatives Fund Sussex Close 151ington Council, Community Growing strthgy- Packin8ton Estste Islington Council, Greenspa¢e aTrJ Leisure Islington Council-warm Spaces Islington Council, Community Plant Nwsery & Estale GTowing St Lukes Gardening Club Eli74b¢th Hol Blackstock TnLSt North London We Authority. North London Community Fund Royal Mencap Society Islington Council- Parks Voluntary A¢iion Islington. Local W¢llbeing Networks Easi L¢)ndon Business Allian¢e, CO of Livi. Resident Vouchers Fed & Supported CommissioA% Islington Council, Commmity Wealth Buildin8 The National Trust Culture Mile BID 40.000 .747 32,315 18J75 [0 1,087 2231 860 23.940 180 77.700 10.000 10,000 3,978 8,777 7,500 243 2,031 14,826 50,0 18,01)0 4,000 25,000 920 53,470 4042 IS278 6350 12,500 INVESTMENT INCOME 31.3.25 31.3.24 Deposit Ount interest Page 15 continued...
OCTOPUS COMNfUP41TY1¥4ETWORK LIMITED NOTES TO THE FINANCIAL STATEMETh . continmed FOR THE YEAR ENDED 31 MARCH 2025 RAISING FUNDS Otb¢r trldlng actiYititJ 31J.25 31.3.24 Bad debts 750 CHARITABLE AcrivrnES COSTS Support ¢os¢s (se¢ note 6) Dirxt Costs Totals LBI VCS Core LBI Andover Inspires LBI Estates Growing and Community Plant Nursery City Bridge Foundation, Bridging Divides Voluntary Action Islin8tofy Local Wellbeing NetWQTks Packington Cost of Living Events Commissions LIF Winter F¢stival Nature Neighbourhoods Bloomin Gardenets Highbury Grove Cost of Living Residenl VoucheT5 Tufn¢ll Park Woodland Garden Fed and Supported Up¢y¢ling Ffft Peabody Caledonian Park Golden Lane LIF - BrnhIn8 Out Sussex Close Boston and Nailour LIF- Highbury Grov¢ Winter Festival Tyndal¢ Maw8iOA8 Si Luke Gard¢ning Hub 40,636 4109 (4.408) 36,228 4.109 10,471 11.971 2V72 4.744 31.616 1.655 1,655 13,543 2,861 891 13813 127 &453 698 430 14241 3391 891 17,813 127 10209 1.7 985 587 6290 3J69 35,151 30,068 320 4,704 755 36 2,104 3.768 3,956 41,441 30,068 320 5,900 755 36 2,418 068 314 493 756 493 756 210 935 Page 16 continued...
ocropus COMMUNITY NETWORK LIMITED NOTES TO THE FINANCIAL STATEMElWtS - contitiued FOR THE YEAR ENDED 31 MARCH 202S SUPPORT cOs Governance osts Management Finance Other Totals LBI VCS Core LBI Estates Growing and Community Plant Nursery City Brid8c Founthio Bridging Divides Cost of Living Events Commissions Nature Neighl)ourhood5 Highbury Grove Cost of Living Resident Vou¢heTs Tufnell Park Woodland Garden Fed and Supported Caledonian P Sussex Close Boston and Nailo St Luke Gardening Hub 9,742 {17.730) 320 (4,408) 1.500 4744 698 430 2,000 1,756 4,744 698 430 1.756 985 587 587 6290 381 1,196 314 31)0 796 314 Joo 796 NET INCOMEI(EXPENDITURE) N¢t 1n¢om¢l(¢xrw1Iure) is stated after Chargin(CreditIng). 31J25 31.3.24 Depreciation- owned &8sets Indetthdent Examiners Fees 693 1,173 Pag¢ 17 continued...
OCTOPUS COMMUNITY NETWORK LIMrrED NOTES TO THE FINANCIAL STATEMENTS - eontiAued FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES, REMUNEIL4TION AIW BENEFrrs There were no tne¢s. remuneration or other benefits for the year en¢kd 31 Mh 2025 nor for the year ended 31 March 2024. Truitrtj, ¢ There were no lrttstees. expenses paid f the year ended 31 March 2025 nor for th¢ ended 31 March 2024. STAFF cOs 31.3.25 31.3.24 weS and salaries Oiher pension costs 133J24 5,141 161.881 167437 The average monthly numb¢r of employees during the y¢4T W&% as follows: 31.3.25 31.3.24 Charilabl¢ Artivities No ¢mploye¢s received emolthnents in ¢xc¢ss of £60.000. 10. COMPARATI FOR THE STATEMENT OF FINANCIAL AcfiviTIES FOR YEAR 31J.21ll4 Unrestricted Restricted funds fund Total funds INCOME FROM Grants 221.682 EXPENDITURE ON Chrltblt aetftvltles LBI VCS Cor¢ LBI Andover Inspires LBI Esiates Growing and Community Plant Nursery Elizabeth Hous¢ Blackstock TTU5t City Bridg¢ Foundatio Bridging Divides Clim¢ Action Fu1 Breh¢ Islin8ton Co11. Highbury QlTallI Gardens Royal Mencap Society W8rn1 Spaces 48.754 48.754 11,431 11,431 22.546 .777 47.840 10,189 8.053 22,546 .777 47,840 10,189 ,053 3,835 2.571 78.700 3.835 2,571 78.700 Page 18 continued...
OCTOPUS COMMUNITY NETWORK LIMfrED NOTES TO THE FINANCIAL STATEMENI3- eontinoed FOR THE YEAR ENDED 31 MARCH 2025 10. CoLPARATIVEs FOR THE sfATEMEI¥T OF FINANCIAL A1vr[JEs FOR YEAR 31J.2024- contlnued Unrestricted Restricted funds fund Total funds Voluntary Action IslingtO L¢ Wellbeing Networks Packington Cost of Living Events Commissions Digifjuide LIF Winter Festiv N&re Neighbourhoods Bloomin G8Tdeners Highbury Grove Soil F(NJd SWLW Cont Cost of Living Resident Vouchers 13.578 23.534 4.990 538 705 491 6.345 13,578 23,534 538 705 491 6.345 1.074 15.000 10,917 1.074 15,0(K) 10.917 Total 273 755 NET INCOMEI(EXPENDITURE) {7,897) {52.073) (59.970) RECONCILIATION OF FUNDS Toiai fund5 iwught fon¥aYd 122,979 109.577 232.556 TOTAL IIUNDS CARIUED FORWARD 115082 172 586 11. KEY MANAGEMENT PERSONNEL The charity consider its key management pelsonnel clxnprised of the trustees. Page 19 Continued...
OOPUs COMMUNITY NETWORK LIMfTED NOTES TO THE FINANCIAL STATEMENTS- eonlitiued FOR THE YEAR ENDED 31 MARCH 2025 12. TANGIBLE FIXED ASSETS Plani and Computer machinery equipment Tolals COST At l April 2024 Additions Disposals 23,672 Sm4 120 362 2956 120 362 At 31 March 2025 23.672 29J14 DEPRECIATION At l April 2024 Charge for y¢ar 20207 693 4.916 25,123 693 Al 31 March 2025 NET BOOK VALUE Al 31 March 2025 726 At 31 March 2024 968 DEBTORS: AMOUNTS FALLING DUE THllN ONE YEAR 31.3.25 31.3.24 Trnde debtors Cxher debtor5 29,148 21,563 Pagc 20 continued...
OCTOPUS COMMUNITY NETWORK LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 14. CREDITOKS: AMouNfs FALLINC DUE wrrHIN ONE YEAR 31.3.25 31.3.24 Trade creditors Social security and otheT tsxcs Other cr¢ditors Deferred incotne Accrued expenses 14.602 652 1.951 20.0(KI 314 417 iO.O(Ml 15. ANALYSIS OF NET ASSETS BETWEEN VUNDS 31.325 Total funds 31.3.24 Total funds Unrcstri¢led Restricted fund5 fund Fixed assets Curreni assels Current liabilities 3,498 I46,7 36,998) 3,498 211,886 4,433 182,879 174 77 172586 16. MOVEMENT IN FUNDS N¢t movement in funds At 3113125 At 114124 UDreJtrkted fund• General fund 115,082 {1.$95) 113,487 Res¢rl¢led fmn Restricted funds 37J04 3386 60,790 TOTAL FUNDS 172 174 Page 21 eontinued...
OOPUs COMMUNfTY NETWORK LIMITED NOTES TO THE FINANCIAL STATEMENfS . ¢ontinued FOR THE YEAR ENDED 31 MARCH 2025 16. MOVEMENT IN FUNDS. Continned Net movement in fuNts. included in the above are a5 follows: Incorning Resources Movement resouT¢es expended in funds UDre8tri¢t¢d [dS General fund 43J83 (44,978) (195) Restrkted fuDdJ Re5tiicted fund5 195,181 (]915) 3386 TOTAL FUNDS 1,691 Comparitivei for movemeD¢ In Net mov¢ment in funds At 3113124 Al 114123 Unrestricted fuDdJ G¢nerd fund 122,979 (7,897) 115,082 Resttl¢ted fundj Restricted fund$ 109.577 {52,073) 57.504 TOTAL FUNDS 232 556 172 586 Comparative net movemem in funds, included in the abov¢ are follows: Incoming Resources Movement resources expended in funds Unrutrleted fllids General fund 40.857 {48.754) (7.897) Reytri¢ted Restricted funds 221.682 (273.755) (52,073) TOTAL FUNDS 261539 321509) 59 970) Page 22 continued...
OOPUs COMMiINTfY NETWORK LIMITED NOTES TO THE FINAI¥CIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 16. MOVEMENT IN FUNS- colltlllu 31.03.2025 31.03.2024 Ullrestrkied Fuftds General fund 115 082 Restrlet¢d funds LBI Andover Inspires Boston and Nailour Caledonian Park LBI Local Initiative Fund- winter femival COL Food Golden Lane LBI- C05t of Living Evenls Commtssions Highbury Grove LIF - Branching Out LIF- Highbury Grove Nare Neighurh1m)dS lslin8ton Council, Community Plant Nursery & Estate Growing Sussex Close City Bridge Foundation. Bridgin8 Divides Soil Food Peabody Packingt Voluntary Action Islinglon. Local Well1ng Networks Cost of Living Resident Vouchers Islington Council, Bloomin, Gardeners St Lukes Gardening Club Tufnell Park WoodlaThl Garden Tyndale Mansions Upcycling Fotsd 1.637 1,933 2,102 5,747 369 12,027 4314 5,770 578 A95 <36) 72 4,810 1,176 305 2,7110 20.011 383 462 6,355 2.207 492 15,942 759 803 1,655 2,970 128 1,985 19,932 Totsl Rejtrleted Funth LBI Andover Inspires.. This an estate wide plants 8rowin8 Proj for the Andover and other estates. Pag¢ 23 continued...
OCTOPUS COMMUNITY NETWORK LIMITED NOTES TO THE FtNANCIAL STATEMENTS . ntinUed FOR THE YEAR ENDED 31 MARCH 2025 17. RELATED PARTY DISCLOSURES As disclosed in the Truste Repor¢ the trustee51 directOT5 of Octop$ Comrnunty Network Limited are associated with other Community centre51 chariii¢s which benefit from collabo]ng with Octop Community Network Limiled ond therefore these community centre charili¢s are considered relat¢d parties to OctOPU3 Commw]ity N¢hvork Limited. Totsi gTat)ts paid lo these UK network Tnembers w&8 £34.370 (2024 - £83.995) A8. GRANT MAKING POLICY Octopus acts as conduit for the organi12tion$ mentioJKd in the trustees rewt The relevant incorne is apportioned between charbties on 8gr¢ed t¢rnis. P8ge 24
ocropus COMMUNITY NETWORK LIMrrED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 31.3.24 INCOME Grlnts Donation5 LBI VCS Core Miseellaneous Income City Bridge Foundation, Bridging Divides LBI Housing & Slralegy Boslon & Nailour LBI Local Initiatives Fund Sussex Close Islington Council, Community Growing Strategy - Packington Estate Islington Council, Greenspace and Leisure Islington Council-Warn] SFoce5 Islington Council. Community Plant Nursery & Estate Growing St Lukes Gardening Club EliZabh House Blacksto¢k Trwt North London W&4¢ Authorily, North London Community Fund Royal Mertcap Society Islington Council- Community Wealth Building Voluntary Action Islington. Local Wellbeing Networks E&st London Business Alliance. Cost of Living Resident Vouth rs Fed & Supported Commissions Islington Council Community Pa rtnerships The National Trust Culture Mile BID 3,183 1.747 32.315 18J75 1.087 2231 860 23,940 180 77,700 iO,ODO 3.978 10.000 .777 50,WO 7.500 243 J8,000 2.031 14.826 4.000 25.000 920 $3,470 4842 15278 50 12,500 237,664 262,539 Invejtment IDcome tkposit account inl¢rest Total Incomlng resourtts 238,564 262,539 This page does not forn] part of the statutory financial statements Page 25
OCTOPUS COMMUNITY NETWORK LIMITED DETAILED grATEME OF FINANCIAL AIv[riEs FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 31.3.24 EXPENDITURE Otb¢r ¢rdlng •¢tlvities Bad dekns 750 Cbarltsble e¢lvltle8 Wages Pensions Insurance Publicity Local initiative fund Rent Materials Event costs Fr¢elance stsff SIAff Travel & Meeting5 Volunt¢¢r expense5 AGM & annual report Training & courses Payments lo Nelwork PartnEr5 Siaff Welfar¢ Human Resource Costs Room Hire ¢harges Redundancy costs 133J24 &14] 1251 784 1,021 161,881 5.556 2,070 8,418 8,OlXI 13,201 4,670 3,610 445 403 13 1.400 83,995 399 4.437 11.768 4185 800 412 156 34J70 1,198 1,525 9.203 210.935 307,701 Support eojts Managemen¢ Membership Fees Payroll Cost IT Support and Hardware Deprec- Tangible Assets 500 4J07 SJ06 935 270 457 4,601 11,108 6.501 Flninee Bank charges 347 Otber Telephone Postage and stationery Sundries 2.175 291 34 1,863 463 968 3.294 This pag¢ does not fomi part of the statutory financial statem¢nt5 Page 26
OCTOPUS COMMUNITY NETWORK LIMITED DETAILED STATEME OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 MARCH 2025 31.325 31.3.24 Otber GoverDADce costs Itependent Examiners Fees Book Keeping fees 2,640 880 2,640 2.026 Total resources expended Net IDcomel(expenditllre) 59.970) This page doe5 not form part of the statutory financia] statemeDts Pagc 27