n En￿ope10.. 82708FIX-93WAWX1*31fjafjKI￿c Company ffgisirnlion numt¢r'. 08gJ8420 Charity registration number: 1155954 The OVO Charitable Foundation {A company limited by 8iiaraDtee) Annual Rcp)rt and Financial Ststem fcff th¢ Ye4r E￿d 31 t)ecwnber 2023 The OVO Ckgritable Follndat￿ P*gels) Reference and Adminisirn¢ive Details TTUSttts' Rep)rt 2to20 Statement of Tru5tees' Re5FKMtsibililies 21 Ind¢perKl¢nt AuditOf5' RewKI 22to25 Stst¢ment of Fin￿ll1 ActivitiC5 26 B￿ance She¢t 27 Cash Flow Ststemcnt 28 Notes to the FIn￿claI Statem 29to33 The OVO Charitable Foundatio Referenc¢ #thd AdmiDi5tr41ive Detoi TTh5tees l Direrto C*MCicerone Oluwthmi AkiTthle Thoma5 Wi15 tharlotte Eaton Roseanne Baxler (ap￿1Th￿d 20 Janw 20231 Printipal *nd Registered Oflke l Rivergate Temple Brisknl Unitrd Kingdom BSI 6ED Ct)DUMAy Regts¢rxtiofi Number IA 0190M20 EThgland Ch*rfty Regl$tr*d•Th Number I England 1155954 Independent A¥dit•T5 2 Glass Wharf Bristol B520FR The OVO Charitabk FouAdatio Trusttts, Rep)rt Th¢ tru51ees {wtr4) are a150 th¢ dwitabk ¢￿p￿Y'S dire¢tors fry th¢ of wmpany law) we5ent their Trustees. rep(*t wgether with the audited Fina￿181 Staternents of the charitable cornpany for the year ended 31 December 2023. These Financial S￿tements Fo¥e been wepwtd under FRS 102A and th¢ Clwity SORP (FRS1021. The OVO Charitable FohuKlatK>n COVO Fourth￿.) is OVO Energy Ltrfs ('OVO') ch&ity. The trustees. report al￿ c￿￿l[L5 infonDati(m rrquircd in a dirt¢tots' rtwt &4 required by eompatty law. A note our Ch*lr The imrnediate pressurES friHn the global erKTgy crisis eased in 2023, b￿t 8￿￿]111¢S, the ecoTr)my and energy markets remained unsettled. These challcn8es have made it all the more pertinent that OVO is M¥Trrking towards clean energy economy tha¢ is less exp05ed to global f(wil fi￿1 price skncks. by solar, electric storage healing ele¢tri¢ vehi¢ks. Their Plan ze￿ suwinabiliry 5tr¥t¢gy. launthed in 2019, also ¢on¢inu¢s to ¢volve io thckle the most important issue of our time- the clirnate uisis. fkspite a si8ThifiLWrt reduction in emissions in the UK in 2023, the Climate Cknge Committee hs r¢p(rfted iha¢ as a county ￿ ar¢ still on track to hit OllT target to reduce ernis5ions in 2030 by 68% ccxnpared w I￿ levels. The Erowing o)ncern on climate change netd for irnrnediate *11(￿ mlke OVO Found*￿.$ wxk m(Kt IM￿#￿￿1 than ever. This is echoed by ih¢ wider s¢¢tor. and w¢r¢ really pl¢&8ed kn See further ￿110￿$ set out in the Department for Education's (DtE} 's￿￿￿bility and Clirnate CIwi8e Strategy. come to fruition in 2023. a5 the National Edwaiion Park. It W45 also hcyeful io see the apEx)intment of Youth Focal Points for Sustainability and Climate Chang4 WIM) xe ￿￿Tkin8 with Students (h8anisin8 for Sustainability UK (SOS-UKI. one of our charity pathets, and will be thising, evaluatin& championing the DfE's strategy. As Bo¥d and Foundation. ￿ remain decply committcd to our rnission of equipping mre children and young people with the skills. kThJwledge and opportuNitie5 lo ttrive a pT¥)*rtcd planeL and are very aware That thrre is Still much work to th>. This includes embedding climate ehartge into the ¢uni¢ulum. equipping ttschers with th¢ knowl¢dg¢. skills and confHlence ￿ deliver climate educa￿ and bringing cornmwiitie5 c105er to nature aTwJ spaces. Our small foundation makes a big diff￿￿Ce at the Intersecti(￿ of youth a￿1 dima* Change, which we know to be Pdrticularly underfunded. In 2023. ￿ ¢oniinu¢d io have gr￿ impact tTh supp)rting schools to &Mres$ the climate crisis via our partt*rships with Six Or￿158110nS in our 'Clitna* Changers. wogramme. One organlsation. Spark& enabled 350 5d￿K￿5 to save £2M on thcrgy bills and prrvcnt 8,000 tonnc5 of C02 emissions in just one ycar. To mateh the natititth] scale of these partnership& we liu1￿h¢d new Work at the nelghF*)Urh¢￿d level too thnxL8h our 'CornmuDity lrnpxt, pro8ramrne. These projects provide opportunitie5 for ¢hibJr¢n and young po)ple ￿ connect with naure and tak¢ aaion I(￿ty. We anticip￿t si8nificani bU￿rits as a resulL irKI￿]ng YO￿ Fyle being n￿re connected to their I￿al enviroNmcnL improved wellbeing and a gr￿er feeling of emtKJwern)ent to tackle the Climate ¢ri8is. We have f￿USed these gro￿ts on eommuniti# where OVO Pty)ple Ca￿ ￿$0 give theirtime to support (wJr par￿￿ thlough volwiteerLAg often ledding to fruhrful lon8er-tenn conTrcctions bet￿ten OVO'S teams and the local organi5a¢ions. We ¢io¢k¢d up nearly 600 Iwr5 of volunteerin8 in 2023 and consistently received positive feedback from charity parfners Is wrll as OVO Pe*. Page 2 The OVO Charitable Foundation Trnsle4s' Report Finally. ￿ were extremely proud io ￿ OVO Fowthiion's Tecognised at the 2023 cory￿rate ET￿rnent Awards where we won Best Foundation. This recognition is iesthmeni to our strong vision of a greener, brighi¢r future for ail children and young pEopk. which is ¢Mly being made possible tharths to thr kind donations of OVO customers. I'm very grntefvl to ow brilliant partner OTganisations for brin8in8 our vision to lift. our small y¢t mighty team and to OVO People for dedicating their time. Finally, I would like io thank my fellow Trustees for their hard wY)rk and dedicalion to OVO Foundation, and wtkome Roseanne Baxter who jolned ihe Board this year with invaluabl¢ ¢uswmer and operational in5ighi gnd exp¢rience from wbrkiT¥ for over 20 year5 in the utilitie5 sector. We look fonward to ￿ntInUIng ￿ drive the Foundatmjn for¥*7rd aTrJ wY)rk tO8ethcr to athieve our ambitious visiort. Gina Cicerone Chair of Trustces Page 3 The OVO CharltalAe Fo¥JMd*tk T￿￿, RetM)rt Introd￿¢1￿¥ The OVO Ch*rltsNe Foll•d*tio OVO Fourtdaticffj is OVO'S dimate-fwwed clwtty. We exist to cre&te a Bree￿. brighter future for the next 8eneration. We believe every Child and y(rtmg perym) have a¢c¢ss ￿ nature - and be able io leam about prote¢liDg the plan¢t they love. It is children and young people the Clim￿¢ uisis will affed mosL That's why we're SUP￿ing climate ¢ion and ¢d￿￿¢10n projects for knds aciDss the UL Thi5 is where we feel can m&ke the biggest irnPACt. To make real change happett. we partt*r with brilliant charities #nd fiwwl their powerful projects. Ev￿)rthing we do ai OVO Foundation is fimded by 8en¢mus th)naiioThs from our ¢U5WM￿. 100% of that rwney goes diTe¢tly to our pl¥)J￿ and OVO matdKs every penny donated. So. ￿. ¢an do ¢kJuble the good. hievements Aside from the progress of each of our pro8r3D￿e& our kry ￿￿1e￿lle￿ &$ an orpLiS&tion in 2023 inclu￿. . Rcachcd 20,OOTrk children and young peopk and 2,5(W ttxheys thrnigh the projects thai we suppon. • Weleomed 12 new partners ihrou8h our Cc¥hrnunity Imjmct pwogramme. • WotL'Best Foundation. at the Corp)rnte Engagement Awards. . Grznt¢d £1.071.704 to our partrfft5. our seC￿d bi8Wt year 0[￿￿18kIng to date. . Clocked up nearly 600 hours of OVO people volunteerin8 forour projects. • Inducted our new In￿1¢¢. Roseanne Baxter. kn the Board. . Sent two emails to OVO'S th)natin8 ¢U5tomers. sharing th¢ resth of their slip1￿ in 2023. Visitcd our Climaie Changers and c￿m￿lty Impxt partners to see their projects in a¢tbon. including; A sttondary school in Luton to meet a winnÉng team i(y)k pwt in Apps for G)od's Innovate for Climate Change course the Previous yvdr. and hear thcir CXPCTicncc directly. Rcdcalch C￿lmUnIty Garden in Bristol to learn rnore alx)ut the activities being delivered for local thiklrrn with the hclp ofour fi￿ding. Finally. a pritnary sch(x)l in Croydon WIK) uscd their prize funds fr(Mn the OVO Fi)uthdation Nature Prizc to create a new scknl garden, I￿r￿Ing xcess to green space5 for their - Improv•J our safe8uardin8 prxtices andioined as 3 membu ofthe FuDder SafeBuardin8 CollakJrntiv¢. Reported on our progress in *thI￿sSIng The causes of climate ¢lMnge aThl wpp)rtiE)g adamation to its eff￿ts as part ofthe Funder Commitsnent on Climare Chw. SirKe 2020 have wptrt)rtin8 children and ycMm8 people in the UK to take action on the clirnate crisis. We have grndually been increasing our fo¢u$ on this theme as see our eximing committnents to Future Builders and Proje¢1 Jua wind do￿. This shift Flas allowed us to make use of expenise on climaie issue partieularly in relaiion to ew8y, fmm our wrpc** parent while com￿¢￿tIng OVO'S sknstainability Strategy - Plan Zero. We uFrflated our Theory of Change in 2023 to capthre this: Pa8e 4 The OVO Charit*bk Foundal*)n OVO 4v&IDrt.r[ Ttd Ptuylr ID Uvwrl Lvi oihtts SLIWJD vldllL¥ i yE•l￿rythI¥ll JtAI %lin4PJI* Ll t￿OL¥.1￿nY* Pag¢ 5 The OVO Charitable Foumdatsbn Trnsttts. Report This Theory of Chang< and the nK)nitorin8 {M&E) which sits behind IL will help us to wlle¢t data on our anticipated outc￿leS 80in8 fl￿ward. and ensurE each every acttvity that SUp￿rt is contribulin8 to our ov¢rnll missirm and vision. ur learnin Clim*te Ch*n8en: Thi5 year, wc publi5hd a report on the athievernents from the rttst yeats of our Climate Chartgers progrumme. It captures the three partnerships whidl in 2020. when we initialty started Iocu5in8 on youth Climate edwation and action folk)win8 our strate8y review. up to 2023. The rew)rt can bE found on our website {httpSJlwww.oYofoyndationA)r&uklovfrfwndations￿1Mate￿ngers-Irnp￿l-reP)rt-2o20.2O23) and some of the hi8hlh8hts Énclude.. Through their WildEd woiect. Acticth for C￿￿r￿allOn delivers inspiring hands-oll activities, and off-site acti¢M days foT 5clwJols Y￿th 8ry in urthr-re50urEd arEaS. Youn8 people learn aboul environmental issue5 xross the globe and Cl￿ to hme- go on kn lead their own climate action projects irt their cornmuniti . Between 2020 2023. 141 5￿K￿ wwe rexhed th￿￿8h the WildEd projeci with 3J04 students tsking a 670 cnvir(mentsl action pTh)j￿ts were rwi by stude . 74% said tlleir urmlerstartding of climate ISS￿ incre￿￿ artd 73% sfiid their skills impoved. "Acli¢mfor c(￿￿110￿ copngs in amlli￿*￿¥lO opini￿. All tsfus in lh¢ 8roMpftelh¢ard t7hd like our opinion mallers."_ WildED student ￿tICi Energy Spths is an online wo8ramme that ￿ smart meter dats to help schools cui carbon and save on their energy bills. Thanks to their nifty aDalysis ¢(rJl and iRt¢r¥liv¢ approxh. everyoR¢ * the %hool learn aiKJUt climate chan8e- and make a difference. • 350 sclKK>ls took part in the Er*rgy SpATks pmie¢L . From 2022-2023 alone. 37 rnillion kilowatt-IMM￿5 of energy wa5 saved. • 8,0(M) tonncs of C02 cmi55ioThs were ry¢v￿*d. £2M was saved on schwl energy bill5. "We needed io lake ￿10￿ wilh rising ¢￿￿￿¥ caw. Exrgv eth7bled ¥s io w txKy (w ¢new usage as a sclwol bui ow iwl 00 ikn ¢￿￿1 ". jord￿ Hollis. Headt¢Jcher at Harris Primary Academy SknrtlaNds A Tiny ForE5t Is a dense. fast-growing yy)odland of 600 trtts planted in a space roughly the size of a tertnis ¢ourt. As wtll as helpin8 communities become Thw)rt resilient #) climate change. they double up as ould￿r c1&s5rooms and living science labs. Through the Tiny Forest X sch￿1$ programmc, Earthwatch runs training sessions thai eMI￿¢r teachers to lead OWd(￿ l¢amin8- inspiring kids to tsk¢ climale ¥iion for years ¢0 ¢om¢. . From 2020-2023. 7.200 trtts M*re plantrd in th¢ 12 finy Forests created with E*thwa*h across ihe UK. This means 25,f￿￿ square fed of l￿d wls transfonn¢d into fww. • 6.OLKI children #nd youn8 people connected with natt . 534 teachers grew ski115 for outdoor leaming. "J¥lyfavourile btt wose¥*ryrfhin& C took part ID the progrdmme. ws well a5 case 5tudie5 sharing the stories of flwJ5e who ha￿ tsken p&rL Amy from Bristol. for example, saw at) online advert for Future Builders shortly after She had fLnislLed her A-levels. Before lon& Amy was referred ￿ wellbeing seNic¢s with 1625 Independent People (1625ipl. one of our charity partThU5 deliverin8 the pro8rdmme. athd secured 8 room in one of the Fuiure Builders pr¢)p¢rti¢& li was ilKr¢ that 5h¢ wyjrked with sUPWrt wY)rker5 tt) liye ind¢p¢ndElltIy and plan her firture. Amy is now starting a nursing appT¥*scahip wh￿h will give her a stabk income so she nM)ve into her owi horne indepeTwkntly. She said.. "Jfeli iololfyolone (￿d￿ling$0￿¢0￿e io 3￿P￿1 me w¢Lf am¢ring If¢li reliefty being houwdandlfeelsinee "Wiihowi wlernMiotrr Ifeel I wtxddlwFr hii kniom,"friendF saidto Ékni (hey lhoug￿ I would m&k¢ li io where lam now. 1625oplw b¢ena bridgefor io 1hri￿." Further data frorn the rep)rf C￿ bt fo￿nd in the FuNwe Buildus seaion of 'PYogramme& activi¢ies and performance, below. Partner Smrvry: In (wder to 8ain feedbxk, improve our athl leam from dv)se we wrk with. we launched our fwst annual survey with our 18 partners in AUS￿ 2023. We asked them to provide anonymous reswnses which rnte our perforniance on retx)riin8, communication. supm atKI Colla￿r￿10tt. ag *rll ￿ provide genernl feedback for us and share any Concerns. This w&s an infornialive tffwe$5 which indicated that ￿ are providing giNJd support to our current partner5. With 929• of respthts Yeporting thai they were 'very sa11sf￿d, with our partncrship and the other 8V• 'satisfied'. We intend to Itpeaf the suThey artnualty, aThJ further dethils of the results can b¢ found under'oiher uFMlates' in the 'Prowme4 xtivities and F￿0[￿￿]Ce. seLtion of this rep)rt. The OVO Charitable Foundation Tru8leu' RetK•rt PrnKr*mme4 #¢¢lvtsl¢s and PerfOn￿￿e OVO Foundati¢￿,$ Board of TTUSttts is Tesp)nsible Cor apwoving fimding thision5 for ¢yJr programme5 and temaining up ID dale with Charity commissi￿.$ 8uidaAce on ￿bliC benefit. Our activities in 2023 ajnsisied of: (l) Supporting yowng p¢gplt at risk of to •CCU5 *nd ed•￿11￿￿. employm¢•¢ ••d trnknlng ('Err'} Futhre Builders- U t¢ Future Builders was launched in 2016 with a goal to break the cycle of IM)meles5ness for young pEople aged 1&25 and help thetn to pursue independent lives by trKinging seml4ere1i￿ properties back into use to provide high quality and affordable I￿e& whik hclping them io access educaiion, employn)ent 8nd trdinin8 (EET). Th¢ homes are rented at Si8nificantly rrthKcd rates so that yO￿g Ewle save money ￿ suKxYt them on their paihway to iTrJ¢pendent living. As meniioned in 2022 report, Made the deci%u>n to f￿￿S on clima* xtirm and education w0jec￿ and as such communi¢ated to our Future Buildus partners th* we Mrtruld be ¢xt¢nding our current grants but instead futKI a further 55X nv)nths of staff costs for each of the p8rtft￿. Our fmal 8rants for stsff c05t5 ¥Ycre made to thc5e P￿￿ets in early 2023. EDd Youth Homeltssncss. wlK> relaunL*wJ As EyeryY￿th in 2023. sUp￿rt the Future Builders pannets through their EET and House fwmls, for whith Ily already actively fundrnising throUg￿Ut 2022. We have also syppx)rt¢d ¢onv¢rsatioD$ with (ther fi￿de￿ to direct fi]rther fundin8 ¢oward5 the Builders prDgramme aDd wll wntinue to suptM)rt these discussions going forward. Futurc Builde Future Builders was delivered in Brimol. Norfolk. sh¢fr￿Id Perth. In 2023. w¢ published a final impacl hiev¢TNcnts (available here.. htw'.Ilwww.oVofowthtion.w8.Lthifutw￿b￿1IdC￿2O23.irnWrfc￿￿?. This incl￿. . 31 l yow)g peopl¢ hav¢ tak¢n part in the Progr￿me sinte 2016. 23 semi.dereli¢t properties wett IKou8ht bxk into use. In total thcy cTcatr quality homes for up to 52 young people at 8ny one time. Of tlKJse supryjrted since 2020 (when we W ￿¢￿dIrt8 twxe thfthed key perforniance indi¢aloTs in line with the Future Builder5 M&E frameworkl. 144 parti¢iP3nts (6PAI xhieved a qualifKation . 168 parti¢ipants {78%18ained professional expuicnce . 125 parti¢ipants184%) wtre 5U¢C¢ssfylly IK)U5ed (defined a yow8 person maiTLtainEd their houshng without a breakdo￿￿ in their Note that thi5 percentaEC is hi8hcr not all yLMLThg F¢ople were eligible for housin8 SuP￿rt thro￿¥h the Pmgla￿) W¢ remain grateful forthe Iwd ofour c1￿1ty paTfyM in awing the xhievements of the Future Builders pro8rammt over the12St se¥cn years and are pnmd oreV￿ythItl8 that have xhieved wgether. Page 8 The OVO Ch4rit4ble Foundation Trnsteo4' Report (2) Installing 5o1*r ¢nergy in rtmott sthoojs *nd htAlth ell*￿ *trtsss rurnl •re•s of K¢ny• Pro ¢¢tJu&-U Project Jua began as a small pl￿ ￿To$S 20 scl¥)ols *d health clinbcs in Kenya in 2017. We have been *orking with Energy 4 Impact since then to install solar pallels and reM￿C monitoring systems (RMS) in a further 300 sites a¢n)ss five Over this period have prrrflKed rnuhiple rewrt5. incI￿]ng via close ¢ollai¥)ralion with Imperial Colkge London, to address a gap in the sect<￿'S understanding and aceurnte ealculation of energy needs, esrrtially in publit institulions. Achievem￿ts ddAils of these repons b¢ fowKI in our previous annual r¢port5. As with Future Buildets. and as noted in ow 2022 Tr￿￿tttS rerA)rt, our dec￿10Th to focus on ¢limate ￿tIOn and ¢ducatioTh projects in ihe UK means that will not be c￿ending (rtlr syppon for Projert Jua. The PTO8Tamrne was due to end in Dw¢mber 2023 iKLt hzs been Brdnted a four cost exiension lo allow for the delivery of final training a¢tivitie5 that unable to bc compitted as sch￿] ¢losure$ and exams ai the end of ihe year meartt thai s(￿¢ activiiies ￿%[? W￿ble to be cornpleted. Re8ardless of this thcision. our efforts have always been on securin8 the projc¢i's iong-iemi SLwainability so that the Main￿ of th¢ iThsthll¢d solar panels is led by local communities arml e*n far outlast financial Sup[￿rt. There have been a numb¢T of ¢h41kn8￿ ID S￿￿ring proje￿ Jua's future sustainability in¢1￿l￿g limited budgets. especialty for sclwl4 to invest in ihe operaiions and maIntena￿t (O&MI of their installed $y￿¢m$ 80in8 fon¥ard. There has also been a very prac11¢￿ Challenge in the Energy 4 Impact team reaching the 320 Si1¢s. which are spread across fivc YL%t arHI remote ¢ow)ii¢s in Keny4 ￿ deliver training and guidance. Despite these ¢halleD8es, our concerted efforts mtran WE have been ablE ￿ make good progress and, in addition to $upporting the sites. irKome generation plans, the Energy 4 lrnpxl team have continued to explore other potential partners WIK) might be interes￿￿ in supwiing the sites io wntinue and expand rheir connertivity oin8 fonvard. These di5¢ussions are ongoing hcFfvI that thc data we have colleeted to da* will help to sUPPOrt. Increa5in8 acccs5 to clean. reliable and affordable energy means lh￿ loral comrnunitie5 can avoid po11utitLg generators, which help5 save money and avoid ¢athn emkssiorts. Power for li8hting, technology and life-saving medi¢al equitrtnent will improve health and education outc¢xnes. Meanwhik. gathering dala and insight on energy pr(Kluction and consummion in 5ch¢x)Is and health clinics will help to future olf-grid solar projects. An endlin¢ survey WBS completed at the end of 2023 so the results will be included in our final reporting on Project Jua in ihe Trusltts report next ye¥. Wc do alrc*ly have the following key ￿hle¥C￿entS. however.. • Mentorship and sustsinability orientation held with sChC￿l Boards of Management (W￿ rnaDag¢ thE governance of the schools) in f￿r out of five counties" . Rcaetive mainten4n¢e provided for siies in all five counues- and In 2023, th¢ annyal prevemive maintenwKe (PM) wag svc¢¢ssfully condv¢ted in 227 out of 232 5jt¢5 4¢ross four ￿untieS of Isiok), Kilifi, Kwdl¢ and Taita Tavela. Annual PM will be £onducied on the 88 systems in Turkana in 2024 ircause the Energy 4 Impxt team were unabk to aceess the ￿h￿)IS itt November (due to national exams) and December (due io the early ¢loswe of the Sch￿1$). From January to tkcernber 2023. 9.5 tonnes of C02 wue avoided per kwh conwmed thanks to the install*ions. 8¢9 Tke OVO Charitabk Foulldatio Trnstees. Report (3) Supporting ehikiren #Md yoM8 pe•ple to tht Sk11￿ kDow]t*, •Dd etsnfidente to tske •rtion on ¢he dim•te ¢risi5 Overview and ob. Our Climth Changers pmgrdmme seeks to inuease #¢ess w green and sustsinable spaces ¢0 ensure all children and young p￿pIt have the chance ￿ £(￿rt￿ with nanwe. We also warji ro improve the ¢du¢a¢ion system a￿1 provide ethicators with trdining aTMI resourtts so that all children learn at#)￿ the Climate Crisis. ultimately empowering the next geneT*ion to take action by equipping them with the skilLs. knowltsJ8< and confidence they need fortheir future. We've c￿lmi￿ed than £2rn of fimdin8 to Six prOJ￿ts Since 2020. ershi Attion for Con5erntion (AFC) Through their WildED pro8r*nrne. Aaion T(￿ ConseN&kon delivers inspiring ￿l￿￿0P5, hands-on adiviiies, and off-site action days for schools and ythrfh irt uttder-resourced art&s. Young people leam about environm￿tal is5ue5 acros5 the Blobe and close to I￿1¢- al￿ go on ￿ Ivdd thcir Dwll £limate artion projects in their COMM￿ltieS. Our fundin8 sUp￿ed 3.3¢M St￿ 4cd 11-17 to dclivcr 670 ellvironrncntal action projects in iheir local wmmunities. Energy Sparks Ener8y Spark5 is an online wjgramme that uses smart meter dath io help SCI￿01$ cut carbon and save on their eneTBy bills. Thanks to their cncrgy manag¢Tncnt tool and interactive approach. everyone ai the scknl can Itarn about climate Ch￿ge - and make a diffewence. We fimbded 350 sclwol$ to take ￿ in the programme. and between 2022.23 they achieved.. 37 rnillion kilowatt4wxr5 of cncrgy 5aT¥ed. 8.IXKI tonncs of C02 emissions prevent¢d: £2m 53v¢d on s¢hool ¢n¢r&v bills. Earthwateh Ewrope A Tiny Fottsr is a dense, f&st-8rowin8 *Th)dland of trees planted in a space roughly the size of a tennis court As wtll as helping ¢1￿m￿nI11¢S t*¢ome n¥xe resilient to climale ¢hang< ihey double up as 0￿door c1&55toom5 and livirhg Science labs. Through the Tiny Forest X S¢1￿1$ rrfogrwnme, Earthw8t¢h run$ trnining S¢SS1(Y15 that ¢mpower teachers to lead OUtd￿r learning- inspiring kids to take ¢lirnate for years to come. We plantcd 12 finy For¢sts in uThJerserved area5 of the UK. helping 6f¥JO children arKI young Fyle to ronnEd with nature thrDugh outth)or Itarnin& Asbden We're suppJrtin8 the gro￿ of Ashden's Ltt's Go Zero campaim which connects over 2.1)(Kl s¢hcK)Is and I,(KK),01)O studcnts ainLjn8 to cut carbon by 2030. We also I#￿h¢d the OVO FLMmdation Nature Prize- givin8 75 xhools the chance to win up to £10￿ to irnplement their owj nature project. By inspiring clirnate aLlion in Ihese s¢hools. the proje¢t will bring over 37.th) ¢hildr¢n ¢los¢r kn n*￿. Student5 Org#ttisiA8 for Su$tslM#bllfty-UK ISO&UKI Teach the Teacher is a yout1￿[¢d project that supwjrts ycomg p¢opk to their teachers aboul clim& ¢hange #nd help them io see the simpk yet Impa￿￿1 Ilw bring ¢lim*e into iheir claSsr￿m. Exploring themes like environmental justice and reducing eaTbort. their classes show how ¢lim&te educaiiiml can b¢ woven into all parts of tlle curriculum. This project will tiain over 4.5￿• texhers and support youn8 climale activists to develop skills to become 5U5taiThability cxpu P•ge 10 The OVO Charilabk Found4tion Trustees, Report App5 for Good Innovate for Climat¢ Chan8e 15 a creative tedmoJo8y COUf5e ed￿￿e5 young ￿1C about the climate crisis and supports them kn develop app Protr￿Pe5 that can help tackle it. Guided by Ithd￿ volunteers. thousands of youn8 people will leam pracii¢al skills 10 ￿lId their very own clirnate t￿hnOlogY. limai¢ Chffjsus. Agiyity IA2 ntinued artnershi with Ener Jr original 3 year partneF5hip with Energy Sparks thje io eThJ in 2023. and made th¢ de¢ision to ccthtinue our fuThdin8 for another ycar. We wert secin8 ever incrwing dtm*rwJ from school$ for the Energy Spa￿s project, refleaing the desire to reduce the￿ c3rtxJn f(xJtprint and get their students involved in susthinability, but also the response to ihe rising enewgy wice5 and ¢051 of living ¢risis. Our 2023-2024 funding Set oul to 5UPFK)rt 200 5chLw)L% to xcess ETW Sp￿s {L￿1dul￿ those with 2W•+ free school me2lsl. We will be able to share pro8ress from this year in rKxt annual rrwrt. Volunteer Climale ChaNgcr5 offer5 a grrat op￿lty for OVO Pyk kn lend their tsme and skill sets to SuP￿rtIng our P2rtners' mission5. For examplc by cngaging with Apps Cor Good's 'lndusty Volunieers. offerin& in 2023 OVO People spent over 52 hows delivering tslk5 to 5cIKM)1 studerts taking part in the charity's educational rses, helping to feedbxk on S￿dent id￿$ eniered into the annual thowu4 Jnd Sitting on a judging panel to hear three s￿dent pitche5 live- ultitnattty deciding C￿ a winning tranL "I really effjo￿d being able io conn¢cl wilh young on swtsinobility undpo55ible CLweer choice5 ' OVO Volunteer on the Apps forCM)od project OVO People 8150 8Ot involved with hand$￿tt volunieering oppJTrnities through the Let's Go Zero x OVO Foundation Nath Prize, racking up 48 TrK>u￿ helpin8 a Bristol prinwy sChL￿1 implEment their nrw school 8arden. 2023 publislled Climatc Ch8ngeTS impaLX report {httpsJ/wivw.ovofoundaiion.oTg.uVovovfoundations-climate-changers-impacl-reFK>rt-2020-20231 capturin8 the achievements from our three year partnerships with Energy Sparks. Actu)n for Conservation. 8TwJ E4rthwatch Eyrope. Dthils are shared irt the'ow Le&nLII8' seaion of this knwever the highlights include: b Aciion for Conseryali(m d¢liv¢red inspiring wYJrk51w. halld5￿ Xtivitie4 and off-site aclion day5 Wtth 141 schools, reaching 3,304 siudents between 2020 and 2023. 74Yo of stthts said thcir understa[￿Ing of climate issues incre&%ed ar￿ 73W•said their skills imwoved. Ener8y Spark5 Used 5rnart mcter 4J8ts and their online plaifomi to help 350 scknols Cut carbon and save on Iheir energy bills. Fr¢)rn 2022-2023 alone. 8.(K)O tonne5 of C02 ernhssiOn5 WEre p¥¢v¢nted and £2M was saved on ￿1￿)01 energy bill5. . Earthwatch planted 72￿ irees in the 12 Tiny Forests that creaied across the UK between 2020 and 2023, transforming approximately 25,(th 4uare fcct of land into dense. fast-gmwing *r*)dland for local s¢h¢J)Is and c(rtnmuTrit1¢5 to enjoy. Page 11 The OVO Charitable Foundalion Tn￿tee5, Ryrt Apps forGood- laDov*te for Climate Cb*ngt In 2023, our partD¢rship with ANJS fv Cwl suF¥xxted the delivery of the Innovate for Ciirrt*te Ch¥rtge Wlrse to 53 sch(￿)15 across the UK with $9% itl challen8in8 circurnstance5. ((To be considered in challen8ing circums¢anc4 schools mum m¢d on¢ of the following ￿11¢11& at￿¥¢ average fly nwnber of stthnts ￿tiVing free schfy)I meals: a￿ve avera8e for number of stlldents with En81ish as 2n additional ian8ua8e,' abDve average for numbtt of siudenis with special eduC￿lO￿al needs. those wlK* have an Jnadequ￿e or requires improvement status from ofst¢d' and those fall INO the thwived areas of Swtland, a¢￿Iding to the S¢ottish Multiple Index of Deprivation.) Apps lor C*xwJ en8a8ed 1897 thnts atMI 82 texhers. 158 student team5 Irom across the C￿rttry sulmnitttd their projects to the Annual Sk*wc&se and received ftedb*k from industy profe$5ionals. including OVO Pwle. 19 sttwJeDt *am5 wue sILOrtlisted to pitch to panels of inth15try judges. with six teams voted as the jud8C5 favouritC5 in exh of thc six cate8orie5. There wtrc also over 7165 individu voles for teams through their People's Choi¢e Awrf which was awarded to th¢ with the most votes frnm the public. hdett- Lef's Go Z*ro + N*t¥rn Prlze Let's Go Zero saw stron8 s￿￿1 si8TrUP5 in 2023. with a fl￿ of 1518 5choo15 joining the campaign . representing 1.2 million sthdcnts and nearly 200.1K￿ staff. 176 sclKKTrls entered into The OVO Foundatiott Natwe Prize. with 25 being a￿ded prize to imp1anu￿ a nature 1Koi￿ton their SCI￿1 8fDund StudeDts Org*misimg for Swtai•*bility UK (SO&UK)- Tea￿ the Tts￿eT In iotsl. 64 sclh)ols sis￿d up w tske part in Teach the Texher in 2023, reaching 175 students and 200 teachers. Thc SOS-UK team aiso began expanding project delivery nKthls io rexh wider audiences towards the end of 2023. This included students frm bJ¢al sch(*)Is delivthng sessKxbS to PGCE students at In￿llUl¢S of Education, which has become a staple part of their delivcry nK)del a￿1 build5 on strong existing connections With universiiies au055 th¢ UK. Primary sch(xTrls also slM)wed a lot of interest in takins part in T¢ach the T¢ather movin8 fonvard, anothcr 5tr*8iully imix)rtaiit expans￿ of thcir delivery rtmjdel. Page 12 The OVO Cb8ritsble FoundalioD Tn￿tee$, R¢w)rt (4) Helping omr IONI to ¢MA¢c¢ with A*tUTt verview and ob'ectlves In summer 2023, we laurIch￿ Crflr new Cornmwty Impxt programme which provides oppjriunities for children and young people to connecr with naure and thke aciion on Climate change as well as wider environmenial issue& Ow focus is on supp(Ktirtg grassr(N)ts OTEanisations with an *nnu81 income of less than £S00.000 a￿1 who are I￿[ to OVO'S hubs in Bristol. and Glasgow. We made ontryear grants of £25.OCQ ￿ exh of our 12 partnets in this ￿gramM< tottlling £300.0￿. With these fund5 they are helping children and peqjie in their communitie5 to connect with their local enviwnment. We anticipate participants gaining improved wrllb¢ing and a greater feeling of ¢rnp)wernient to tackle the climate crisis as a result. The proximity to OVO'S three hubs mcan that can also these 12 partners thr￿h voluntttrin8 tirne from OVO Peopl¢. We reg￿allY receive feedbxk it) 0￿r volutrteering survey OVO People discover a charity local to where they live and work but whith they ]xeviously dith)'I know existed. Tlbig can develop into a 1￿8er-ter[ll rel*ionship brfwten OVO'S trams and OTWi5atkon5. whur 5UPP)rt COTLlinuE either tFmu8h volunt¢¢rin8 or fina￿111 thn*ions. Page 13 Tbe OVO Charitabk FoMNd*ilo• .Aai Our 12 Community Impact partners hr 2023124 are: • HeArt of &S13, Brfstol: We're supporting Hcart of BS13's'The Green Influencers,. a youth-led. SOCL81 action initiative designed kn widen participation in el•mate and action and focu5e5 on addressing the problem of w*s* in the BSI3 community - frorn the wevention of fly4ippin& reducing fTh)d wa5t¢ from sch￿15, and raisin8 awam)¢ss of the problems cauwl by fast fathion. . Lowr¢utt Weston Fam, Bristol: LWCF'S Farm Ha￿$ pmje¢t Olye￿ &month weekend placements for local &1 l year olds affecied by poverty or s￿1¥1 issues lo imwove tbeir social skills aml self est¢¢m. physical he41th &MI wrllbcin& and ￿1P them to learn about naturE wildlift and animal care. . Redeiteb Community Garde￿ Brlstd: Outd(Kx ethK*ion sessions at Rethatch Community Garden will le￿h children with SEND alxjut wildlift habitst Cre*1￿ Awain8ble growin& iryi8alion climate ch￿ge. Through a supp(*tive enVI￿Kun￿ ilw'll have the chance to conrRct wilh na￿re and feel emp)wered to make )$ilive differencc 10 the ￿VIrOnm￿l. . Square Food Found*tion, BrlMol: A progmm¢ of f(xxi and cithry activities to hdp bring Cooking into the cl￿rooM and make gocwj fty)d a way of life for the wknle scknl comrnunity. EngagiTLg with less advantaged children and their famili4 Squart Fty)d Found*ion aims lo instil b&Eic winciples of hcalthy and sus¢airbable irtg, the ben¢fits of cookin8 from scrntch *hd irwire a life•long lo￿ of food and ¢￿kIng that 15 goo￿ for th¢ planet. . C￿llIvate 14Mdon. Lthdon: We're YJPlMXting Culiivate seed w plate programm¢ that texhe5 children aboui food. following the iwmey fn)m 50wing seeds to harvesting and eatin& Increasing x¢¢ss to I(MMI-8rowing spaces will benefii SIUden￿ sc4￿)1 gaff, and the wider communities whi15t also imwovin8 the local habitat. eeoACfIV4 London: ecoACTIVE's exwbeniial karning prograrnme for yo￿8 peDple will deliver envirOnment-f￿¥S¢d wowkshw. followed by ￿veNtUrouS xiiviiies on the River Lea and Walthamstow Marshes thai foster a conrkection to nature thmugh exwiential leamin& • H*mmersmlth Cornmw•ity Gxrdens Assoeistion (HCGAN IA)Ndo*: fvnding will support KGA'S site Phoenix Fam) in Whit¢ City, wlwe l(Kal primary th015 local residents Can get involved whth seasonal 8ardenirtg sessions learning atrAWt Iwrnanity's rok in the environmw fwj prnd￿￿. other aspects of nature. . Spltaifields City F•rni. Ai Spitslfields City FarnL their Ywng Famiets Fwme will engage yout)8 people in the world of famiin& giving them the oiwtunity to t￿ne¢t with natwe. build ¢onfide#¢¢ and new skills, make frierKIs and take a break from the owsid¢ world, in an inclusive and welcoming environrnenL * SIMY C•)mmu•lty D¢v¢k)prn¢ot, Gl•sgTrw: We're swrtinE SIMY Community Devekjpment's project to develop young p¢ople's understandin8 and appreciatioth of the envi10m￿t￿l ihrough o range of ￿1VitieS based itt the local community green spa¢e. a s¢lKM)I garkn. and other grcen spaces around Glasgow. • The Children's WO￿ Gl*ww: Workin8 with a climate *¥J natwe educ*tion expert. The ChildreD'S Wood will deliver outdoor karning sessiotts thai engage chillkn and y(XLng people in climate and nature education, all in an urban w(XMlland setting. . Urban Roots, Glasgow: We're fuThd1￿ Uthrt R(KXS to delivu a wo8rammc of outdoor activities aimed at increasing nature connections and access to local S￿en￿e for children and YOW￿ r*ople in deprived arcas of Glasgow. Aclivities rang¢ from ¢ommunity Barthing f(¥￿ growing kn woodland ¢ons¢ryalion and bi(wJiversity improvemenl. WoodlaDds Dev¢lop#*ttt, Gl•szow: ThtOU8h a programrne of art$ 8nd environmentsl a¢tiviti¢s based in the Comm￿lty garden, W￿dIa￿d5 Cornm￿1ty Development will inspire dlildren *MI young people to tak¢ ac¢ion on climatE Ch￿ and fcel better conr*dd to the natural MDrid. Page 14 The OVO ChAritable Found4tion Trnstees. Report mmuni Im -2023 PerforniwKe We will receive the flnal reporting from these projects in 2024 the achievements collected from the mid-year report in December 2023 in¢lvde'. . Reached 970 children *)d youn8 people in their local commwiiies" and En8a8ed 76 texher5. farilitst¢d pupil groups io atlend the projects as Mrll as reeeiYin8 educaliottal resources for in thcir teachin Evide￿¢ of progress iowards rM)silive (w¢c(ffiKs foT ts thildren WKI YOW￿ people parti¢ipitin "li s really good to s¢e [Ihe puwlj workn.ng al u gardenIng￿lIVity os he is no*mally reltsciorf io do ihings OA hES oiviI."_ Tcacher of a Partieipartt "J ihoughi everyihing was detsd inieresring I reolly liAed leorning atwi ¢cosyst¢ms, bloa￿TrYIty & I qvift¢ li m71we amllearKing I￿V to look il "_ 9 yvdr old Participant We also had almom 80 OVO Peryle volwJ¢¢¢r for ov¢r470 IK)urs with our Community lrnpact partners between September and O¢tober 2024, and some of these xtivitie5 forrncd part of OVO'S 'Plan Zero Week, ccltbrntions. Of the v01￿1ttrS responded io our (eedbxk survey. 83Y• strongly agreed th￿ they would volunteer with the or8anisation a8ain, whilc 80% agrecd or strongly weed that the ￿lunteering opp)rninity had improved their uNleTstsndinB of. empthy Wil￿ th people aTKI their aware￿￿ of social issues. VolhLntttrs' feedback inclthled.. "li wos g¢Wil￿lY ilv b¢si day.l J meaft helping ItKal eommunily. bel￿ ouiside and geiiing io kptrow learnTr￿lES beiier- $0 worih ill" "Whoi a difference a lfrligemiingly hwmbledio iy givipw &￿1 know ilrf &ifferertce li Jthjkes lo I￿alp¢oPle. CouldR'I be more oftthadvrtdtsfLY ihis rfliried" "A greai day giving someihing working on o wilh immediaiely apptreni bgnefvs. Ai ik end t)Sihe doy we couldreallysee ik ere￿¥ we "Ifoundii $0 t￿ete$ll￿g hearlng abDllt ihe slories ihai only lhE￿Ople ivkn workfor ihe charity would5ee (md be tsware of- lh¢ Challen￿5 ilwyf￿￿ al￿1hE complex ca￿e5 behtnd them. "I leornl a loifrom rny volunteer ￿perIe￿¢. would lo￿ io do li aThl lis remi•thd my ihai I slwld be giving lip more ofmy IEiiie 10 help rfher5" "li w￿￿￿￿1￿511¢ maktng connec110￿ wilh an ILKol io ttndco-workersfrom ￿herCrEas - il like we ￿￿¢￿*d&steth io help ihem on ihe mxisiage ofihetrwojeci ¢Tndl'msoproyd rfwhai ive did." Pagc 15 The OVO Ch*ril•bk Fwndati Trustees. Rep)rt (5) Other upd4le5 in a new trwstre We were delighted to have Roseanne Bax￿ join our BO1￿ this yew. Roseannei0in5 as a trustee alongside Gina Cicerone, Katherine GoldsmitK Phillip Kerry. Oluwakemi Akind¢l< Charlcrf* E*on and Thomas Wilson. Ros¢anne brings over two decades of experience in the uiilities sttior and therefore h&5 a wealth of operational and project experience. Hcr knowledge of OVO'S ￿￿OMer base fnm w(**ing in the Care ieam at OVO means that sh¢ will be in4rumental a5 we C￿tInUe to consider customers in the decisions we mok¢ within the OVO Foutthtion. Almual lie rev We conducted our annual w>licy ￿VieW at the trtd of 2023. There were ¢0 ihe majoriry of our policies bui upthes i￿luded a SIL￿ Ir￿a￿e to the AtC5 for hotel stsys and subsis*n¢e in our Trustee ExkKnses Policy w Tefle¢t cost of living and inflation. Our Trustee Term5 of Reference I￿rE ￿$0 pjatcd to state that qvorurn must never be le55 than two, ntitice of meetirtgs with venue. lim< da* and agenda will be givert later than 10 days prior w merfing and Board meeting rninute5 will be shared within 10 workin8 days after each meeting. The Board n(rted as part of this review that may want to review our $afe8u¥din8 policy again in the near fvtlwe as wt joirt the Furtder Safeguarding Collat¥)rativ¢. whi¢h 8ives a¢¢ess to guidance, a netW￿k and resowccs to irnprove our prnciic¢. We will also Ic*)k to develop our finan¢iJl regulatM)n policies in 2024. PAttn£t Survoy A5 Part of oyr A)mmilment 10 eortlittwusly impove practice get IK*nesi re￿baCk from those with on our t*rfonnance. we launched ow first annual gJThey in Augusi 2023 with our 6 Clima1¢ Chang¢rs partners and 12 Cornm￿￿ty Impart pwther5. We asked them and provide fttdback based around thrtt areas.. general fttdback, rew)rting communicaiiort. 4￿j suppm and ¢ollaboNion. The ratings weff fn)m I (noi at all satisfied} to 5 (very sat15r￿d￿ and TeLrivcd 13 responses loui of a iothl of 18 partners). The key rindings included (thry)ug￿l the below, a rning of 5 T¢C¢rs to knry 5atLSfied'. 4 refers to '5atisfied' 3 refers io'oeither satisfied Thjr Un￿[$r1ed.}: Ovetall resporHknts are ￿1$f*d with w p9trrshi￿ with 92%of pathers r¢5trfmdinB to the question with a , and 8% of partners with a 4. . 80% of partners rated the effedivene55 of ow rqxxtirtg a 4 or 5, with 20% of partK¥s ta¢in8 a . lo￿4 of paTthers rated the frequew and clarity of our crknmun*atTh with them &8 a 4 or 5 a¢tr)ss ihe b)ard. • Thcre were kry themes acros$ all our partners when asked 'What is ihe biggest ehallen8¢ facing your charity at the wK)rnent?'. Lack of unrestric*d or ¢ore fiudiD8. Funding insecurity and yntrdictability I Ixk of multi-year fvndin& Job insecurity for stsff. Dilriculty amurtd impact dats ¢ollecthon. • 85% of partner5 rated thr effeciivertss of ow cuneni suppm as 4 or 5. with only 1S*• of partneTS raiing a 3. One of ihe main reasons ¢i*d w&$ to do with length of fiuhdiD& whith ￿ will tsk¢ into Consideration tn our fulurr grant-making. *We a¥Aed our Communiiy Iw losknp thif ihEy hodnot reporlingfvmewtsrk ai ih¢ lin￿ ofrespona7ry io ihesurwy. We will b¢ using thi5 feedback to consider IMp￿0ve4n￿ts io ow pr(ttsses going fotrivarl including 2llowin8 for more flexibility in our reporting fr*nework to refle￿ the qualI￿l¥e of scthe of the dara collected by our partners. We will also continue to share learnings with our partners through imm reports, as well as cl￿¢ opportunities for our partners lo ￿nn¢￿ and shaTt ¢hallenges a￿1. imp)rtaiitly. their learnin85 with eath ¢Aher- for instance thrvugh hosting pwtners meetings at OVO offKe5 and through. Page 16 Th¢ OVO Charitable FoundAtiom Trustees, Rewbrt In 2023. we reported for the third tirne on our proBre5s win5t the FuTKler Cornmitment on Climate Change, which we signed in 2020. Our on Climate Chan8ers was hi8hli8hted in the Association of Charitable FOund￿l0￿.S Year Commitsnent available https.'IIfiMMlercommiImeniclimatrchange.￿YJ￿)Mmo￿ljph)0w•2ofl1t￿Restar¢hw*2OandV02OresollrCe ReSearCh￿cCC_r¢pOrf 2023.plfj for specifically iThcludin8 climate con$iderdtlLK15 in our fvndin8 and 8rant-maknng 5trateBy. A5 well being a help￿1 network to be part of. with events aTwJ re50urce5 shared throughout the year, this eommitment will Continue to hold us to &count in rnakin¥ PTO8ress on six k¢y are&s: . Educate and learn 81KJU¢ the key ￿u$¢5 and soluiions of clim*e change Commit re50ufcES to ￿ce]erdle wY>rk that addresses the cau5e5 aThJ impxt of climate change . Infrgrntc adaptation to climate change irnpxts within txi#in8 pro8ramm¢s. prioriti¢s and proc¢5S¢5 b Steward investments for a tKW-¢arbon fuw . Decarbonise operations • Repjrt on proBress 88a1n￿ the five pjints listed aiwe Pa8e 17 The OVO Chxritalth Fowndatw)D Trnstees. Rep)rt The OVO Ch*rltsble Foumd*liots's for 2•24 Since our grdnt-makin8 has become MO￿ f(¢wssed on climate e4kn*1￿. in 2024 will be k*)king b) what is n¢xt for OVO Foundation, particul￿lY ]•) being abl¢ w hamtss its Tx>sition a5 a corwrate foundat*)n with insighi into the energy se¢tor and a 5tsff iLKly with cx*nsive knowledge and skills linked to climate change and decarb)nisation. This will mean greattt reflection ort our of tyaTrtI via a strdte8y review day with ihe Board artd OVO Foundation leam in QI 2024. whettby plan to look at the role of the FouThdaiii)n in bringing about grtater p)sitive change to ¢limate ¢ducation. We'll also ensure ¢los¢ collaboration witll Olf partners i this pro¢e5s arHI e[￿￿e they havc the opponuAity to share challenge5 and karnings with one another too, os w¢ know ihis to be valuable. These pbans will b¢ Ix)Is¢effd by r¢fltttion and celebration on our journey and achievements over the last dec*k. as wc mark OVO Foundation's 10th birthday. Key a￿1VIlle$ that have planned Incl￿12. (l) Strn¢¢&v revkw Annual stra*&Y reviews durin8 QI of c&h year have tecome an imixKtant nK)mtnt for our Board of Trustees to come kn8eth¢r in persoD to retkd on d￿llenge5 and a¢hievewts and plan for the year ahead. particularly sin¢e we ffta(k the decision to f￿v5 on dimate educaiion and a￿10￿ w0je￿$ orKe ¢)ur Current 8rant comillnetts in FuDJre Builde￿ and Project Jua corne to an e￿1. This me*s that in our 2024 strate8y review we can deepen our understaThJin8 of conneaion lo climate education a￿1 *t10￿ includittg how we might IcA)k a¢ a wider Sy5terns change 4y¢)a¢h ￿ this {2) Sup￿}rting •ur network We will ]￿k to inueas¢ th¢ irnpxt are t￿ing on ow pxuxrs financial grantm#king in 2024. Thi5 includes in¢reasin8 Nvlunteerin& %hthich has seen brilliant results in 2023. as well as ¢￿)rdinatIng rnorc n¢tworking opwrtunities for our Climate CIwi8ers partrKrs kn share learning with each otheT. A5 part of th¢ aforcmeniioned stra*gy trview, we'll also be cons¥Jerin8 our fDlc within the wider chan8e that we waftt to see happen in climate ed￿atIon and adion, which will help us to xhicve our visi¢)rt of a greener, brigh*r fuiur¢ for ail children and young people. This will include liM¢niTrg to the feedback and expertise from ￿Jr partnw3 and hers in the s¢dLw, and reflecting on the other ¢￿ditionS that we nee41 to s¢¢ shift itt order to brin8 alx)ut Posllive change. {J} CeltbT8te 10th Blrthday OVO FO￿datIOn will turn 10 y￿5 old in 2024. This is an imrmtht rnoment to Celebrnte our achievements. OVO'S commitment to their dwity and the &i￿oMe￿ WIK) sw us. W¢ will l(x)k to hold several eYents1)oth intemally and ex¢ern8lly to mark ihe L￿aS1o￿. but also io reflect on whue we have corne from and where we are going. We a￿ I￿king fonvard to k￿lTh8 back on thisioumey and using it to set out our future direction. Page 18 The OVO Ch*rit*ble Foundation Trustees, Report Fln*nelal review {1} 2023 fiTh•*eiAI review OVO Foundation's total Inc￿ne at the end of 2023 was £l.018.872 (2022.. £1.066.144). Of ilLiS, £397,990 12022.. £370,907) c4me from the th)nation Of OVO eusr(mers. OVO matched those donations and ￿pped up the value io ensuye OVO Foundation's in¢ome of * l¢* £1 Millio￿ yw. OVO'5 totsl donation to the OVO FO￿ndatiOn in 2023 £602,010 {2022: £695.237). 0￿r eX￿￿11t￿¢ in 2023 w&$ £1.096.704 (2022: £939,330)" pleasc stt n(*e 5 of the Finartel￿ Sthtements for ddail. The tothl fimds are carrying fonvard into 2024 have been c(ffimitted to whjt will bewm¢ pn annual g￿ts cycle ftir Community Impact. We'll also continue and likely expand supwjrt for our Clirnate Chan8ers pro8ramme, ls well L% explore new ar￿ of Work relating to green skills and the ways th&t we can bring ab)ut wider systems ¢hange - ultirnat¢ly knbking to unpick the condition5 which are currently Pre￿ting all children and yow)g people from achieving a 8rttJw, t¥1￿ter fvture. (2) Number #nd vAl￿t orC￿￿tr doiatioms OVO ¢u4omers who ar¢ on a p8y n￿ithfy wiff have the op¢ion to donate to OVO Foundation. These th)nations art matrhed by OVO because OVO also covets the overhe•Js of OVO Foundation, the funds go entirely to OVO Fourmlation's Charitable 8rantmaking activity. By tk¢ember 2023, approximately 42.(m C￿5￿merS Thrrc donating to OVO FouTthtion. down slightly from appmximately 43.500 customets in Q4 2022. This ¢on¢inKs to de¢rease as il's a th8]lenBe to find prominence for promoting the OVO Foundalion prop)sition ith ihe ¢ustomw joumey, pani¢ularly as w¢ remain sensitive to the external ¢rffltext of a cost of living cri5i$. HowEver. the decrease in d￿tIng custom￿5 has impacted lh¢ FOund￿l(￿j.S overall income from custorners. Ckn average. we have seen custorner5 &)nating more annually than in previous years. In ￿ld1110￿. OVO'S commityneni enwres a wMis¢eM annual incorn¢ for the OVO Foundation which is incredibly helpful for our fiLtur¢ plannin8. (3) Polley 00 reserves OVO Foundation had upd￿ed its reserves policy in 2022 and made nD further changts lo it durin8 our policy review in 2023. It theref￿¢ maintains that the reserves"F￿0VJde the Foundation with &dequaie financial stabiliiy to fijlfil its charitable objectiyes and maintain continuity of its corc work- and se¢s out that * maintain reserves equivalent to at least 20W• of (xw annual charitable exI￿nditure. Reserve5 are set al thi5 level to reflect the charity's curfenL planned and projected income and ex￿nditUTe." This ￿lIcY will bc revicwed again in 2024 part of the FOundati￿'S attnual ￿lleY review. Pa8e 19 The OVO Charitable FMwd*tion Trwstees, Report (4) PriMt1￿1 rl8ks OVO Foundation has a risk policy risk which is reviewed and ypd*ed by the OVO Foundati leam ¢￿h quarter, and reviewed and discussed by the Board of Trustees where relevant. Pri￿1paI risks to th¢ Foundation in 2023 in¢lud¢d= Future fundlng of OVO Founditlon OVO Foundation is part-fundgj by u>tomer donations and part-funded by OVO - match all eustomer donations ￿ provide5 a topup lo cn5ure OVO Found*ioD has an annual inC￿ne of at least £1 mill1onfy￿r. The current ot*ratin8 a8reemeRt betwttn OVO and OVO FO￿IdatiOn is irt pkne ￿[11 the end of 2025. I￿r T¢serves Frt)li¢y a150 ensures we mairtain rescrves equivalent to & least 21)V• of our annual charitable expenditure. However, very aware that we have been unable to build our ￿n￿ling rustomer bas¢, larg¢ly due to the ongoing cost of living crisis, and the &ssociated energy crisis. whith h&% presertted huge challenges for milliors of houseiKslds across the UK. 1¢ has remained oyr priority to react extr¢m¢ly sensitively to thhs ntext. which h&s mvdnt that our communications with customers has been limited. as was th¢ eas¢ in 2022. We are hopefvl, however. that the volatility in the enew markeL and iht wider implications of this on the wst of livin& will rn￿1 that 2024 will brirtg gr¢￿tr Op]￿￿nIty ￿ u)gage could bewme new Supporters of OVO Foundation. S•f¢gu8rdi OVO FoundatiorL is providing an irn¥easing nwniYr of LYF￿￿nItle5 kn OVO Pe(yle to sUp￿rt the organisaiions we work with thn)ugh vOl￿teerIn& gs hi￿1i8hted thr￿shoUl thi5 fEPOrt. As such, we want to make sure that our provi5wJn and pr(*esses are robu51. We therefore attended refresher training on 5afcguarding and joined thc Furtder Safeguarding CollaboNive - a dedic*ed space for fund¢rs and donors to ¢onnect and l¢am from safe8uardin8 ewrts. wcll a5 each other- to￿￿$ the end of 2023. W¢ will ¢onlill¥¢ to r¢du¢e this risk in 2024 by refleciing fvnher on OUT saft8uarding wAicy and the guidance we Fyovide to Lw pNrtners in relation lo safcgwding. The annual rHyJrt apwoved by the trustees ofthe tharity on 23 August 2024 and signed on its behalf by: Gin& Cicerone Trustee The OVO Charitable Fo•ndatioD Statement of Trnstees. Responsibilities The tnslees (WI￿ are also di[￿10¥5 of The OVO ChaTitabl¢ FIMLnd*ion ￿ the purpose5 of company law) are re5ponSLble for preparing the Trus*¢s' Annual Retwi and the Financial Statement5 in aecordanee with applicable law and regulation. Company law rcquircs ihe In￿ltt$ io Prepare Fuhanciaj Stsiements for each financial year. Under that law trustees have prepared the Finartcial S￿eme11￿ in ￿cordanCe with Uni*d Kingdom Accounting St￿dards (United KiDgdom Generally Accepted Accountlll8 Practice). CDmprising FRS 102A 'The Finat)¢ial Reporting Standard applicable in lh¢ UK and Rtpubli¢ of I￿land. and arvlicable law. Under eompany law the trustees must not approve the Fiihartcial Sts*m¢nis Whless they are ￿l$fIed that th¢y give a true and fair view of the state of the affairs ofthe charitable company and the group and of ihe iMomit)g resourtts and appIl￿tion of r¢soyr¢¢s, including the income and expEnditure. of the ch¥itablc cotnpany fc* period. In preparing these Financial Statementy the tNsttts are required to.. select 511itabl¢ xwunl•n8 ￿lIcIeS ar¥1 ¥tvty thern ¢[￿s151t￿l￿. observe the methods al￿ principles in ihe S￿eMent of Rewnm¢nded Prartice: A¢¢ounting artd Rep)rting by Chwities (effective l January 2019). make j￿ements and estimatcs that are rea￿able and wuthnt. s¢at¢ whether appIl￿bI¢ Utlited Kin8kn Acwuntin8 Standarts. cornprising FRS 102A. have been followrt subject to any material depzrtures disclosed and cxplained in ihe Fitt8ncial Ststements. attd prepare the Financial s￿eMertts on the going c(KK¢rn b&s•s unless it is inapwopriate lo pr¢5ume that the charitable company will continue in business. The trusitts are responsible for keeping xcouniing Yecords are sufficient to show and explain the charitable cotnpany's t￿T￿¢[lOnS disclose with rtasonable attuwy ai any time the financial F￿Sition of the charitabl¢ company arhd enable them to ensuTE thal the Fi[WLri￿ Statements romply with the Companies A¢t 2¢￿6. They are also res￿r￿ible for safeguardinB thc &sscts of the eharitible compony and hence for thkin8 reasonable $ieps for ihe prevention and deteciion of fra￿1 and other iThegylariti¢s. The trustees are respon5iblE for th¢ and iTrtegrity of the tharitable c(rfnpany's webstte. Legislation in the United Kin8th)rn Boyernirtg the prep￿Illoti thj dissemin￿1On of FinaTh¢ial Sthtements may ditTer from le8islaiion in other jurisdi¢iion& Apwoved by the In￿r¢S of th¢ charity Ot123 Augu* 2024 and SIB￿d on its behalf by: Gina Cicerone TNst¢e Pa8e 21 Independent auditors, report to the members of The OVO Ch(zritable Foundation Report on the audit of the financial statements Opinion In our opinion. ovoalaritsble Foynda¢ion's finan¢ialstalen￿n1S(the-fin&￿1a1S￿tementsj. giir a true and fairiiem. of the#aleof thetharitsble O)mF4n￿$affalrS asat 31 Decemter 2023 and ofits incomin8 resourres and appli¢alionof reg)vrc*4 including its i¢JLxJmeathd expenditure and ca51h flow5 for the year then eThlthl. have been propErty prepaRd in aL￿rdan￿WIth United Kinsd(Mn Ceneral]y Aryep￿ Aryountin8 Praclice (United Kin8dom Accountinsstsndards. including FKS 102 ￿lOn ￿ Tr Financial Rep)rtiDg Standard applicable in the UK and Republicof Ireland". and aPpI￿able law). and ha￿ been prepared in accordan￿￿Trth the wuitementsoftheCre fully in the Statement of Trustees. ReSp)nsi￿lIEtie5. the trust& (whoare also thedireLt0￿0f the charitabk ￿rnPany forthe Pulp￿e5￿coM￿￿YlaW}3￿ rtstK)nsiblefor the preparation of the finaneial statements ina(xx)rdartt with the applicai4e framth*ixk•MI torbein8saiisfiul thalthrygiiEa trueandfairview. Thet￿￿teeSare a]so ￿st￿￿1ble for5uch internal (￿trol3$ Ihrydetern?ine ￿neCe&￿ary toenablethe prepardtion of financial ststements tknat are free from mafrrial misstatement. whetherd￿e tofraud orerroT. In preparin8 the financial ststemezhLs the tnjstees aye respons￿1 lefoT a&sessins the charithble ts)mpanYs abilityto o)ntinue as a goiDgcoTr¢ern. disclosin& a5applicablE, Tnatter5 ￿lat￿ io goRng contrrnand ￿Ing thegoing basis of accountins unless ihe 1rusteeseitherinte￿I to the charitsbleu)rnpanyortoLYdse opejations. orhave no realisticalternatiyebut iodos Auditors'responsibilTtiesfoT the aukntofthefinaneial statements Ovrobjectirs are toobtain m>)nable al￿1 whetI￿the fina￿laIStaternents a5 8 whole (￿e from material misstatement. wILetherdue￿ fraud orem)r. and to an auditors, ￿tK)rt thal indud&souT opinion. Reasonabte assurance isa high of assurdmt. but is m)t a guarantee that an audit conducted in accordan(z with ISA5 {UKI Nill always detttt a tnalerial mi*tatemenl Mthen it exists. Mi&stsi¢ments can arise froTll fraud or errorand ate considered material if, individually orill the aggwte. they ¢vuld reasjnabiy beeKpe￿ed to ittfluenee the ￿onOmIC thisKJrGof taken on thE Lwi5 ofthEse finantyal statsments. Irregularitie4 including fraud. aTe instances of non-complianL%With lawsand Yegu]atioThs. We design prfmydu in linewith our ￿$￿nsibIlIti4 oyilined alw lo1ktÉ￿ material misstatements in tesrttt of irregularities. indudingfraud. The extsnttosyhich oUrpr￿￿UlEsaTecapaue ofdete£tin8irryu]arit%s. irdudingfrdud. i8 detaitedbEIow. Based our understandirtgof ￿d￿ritable[7MnplnY a￿1 itsindwiryleniqronment. identifioj that th¢ principal risksof non-eotnpliance *ith lawsand Tegulations related toUKtax legislalion,aThJ weconsidered the exient to which fKJll•eompliance might haira material effed on the fina￿7￿1 stateTnent& Wealsott)LsidÈral th￿￿ laiys and wlations that hove a diTe¢t impact on ihe financial ststements suth as the G)mpaniesAcl 2006, theCharitiesAcl 2011 and ile8ulatiots 8 of TheCharities(Accounts ReFOrts) RegulatlOlJS 2008. We evaluated mana8em¢nt's in(*nti￿￿&Thd opportunitie5 ￿rfraUdll1e￿t manipulation of the financial staternettts (ineludingthe risk of ¢werrideof contro]5), and detennined thai the principa] risK3were re]atsl to frduduleni transactions designed tooveTState the financial ￿rf0m￿￿Ta￿d tK6itiDn ofthedharity. Audit pr(K%dure5 ￿[or￿edbY the eTh8a8ement tearn includtsl: Auditors, responsibditiesfor theauditofthefinancialstatements (continued) Revieiving Board minutes and IK)Idinsdiscu&sionswith management. indudinswnsiderati(￿ of known or suspectsd inslanees of Th)n-coMpl]an￿ with laknsand te8ulations atmj frawj; Usin8 (xTrInputerba5￿ audit technique5 to identifyaThJ test higher risk Man￿1￿)Urn&]S. in pirtioJ]ar thtxe hiving unusval aLwint eombinations" Challengin8 the as8umptio￿ used by thed￿rity￿hen ts)TrsId￿in8its￿b]lity1o¢l)nI1nUedS a soin8con￿rn' and Obtainingthtrd ￿rty(y)nfirthaIlottSQf theehatiirfstértkins aTKI financin8arrangernent& There are inherent limitations in theaudit pTrthlUresd￿Ulh￿l alxm. We are lo8s likdy to become awate of I￿S￿nCeS of non-compliantr hqih ]aws and teglllaiions that are not drffjely related io trtThts arwl transactions refiected in financial stalements. Als). the risk of rAot detectin8a material miysiatemeftt due to ftaud is h￿her than ihe riskofnotdeteeiing one resultingfrom error, as fraud may invtht delLTheiate LxbhL￿1menI by, for example. forgeryor bntentional rnisreprEsentatiDDsor thr￿gh aAIusion. Afurtherdescription ofour reswnsli >iliiie5 fortheaudit of the financia15tateMents￿ kxated on the FRCS ite at.. www.frcorg.uk1auditorsrespoLs￿1 ilitie& Th￿des￿iPtIon forms part of ouraudilors. re Use of ihis report This report, induding theopinions, hasbeen prepared forand onty forthe eharitableo)mpanys members asa bcxjy in 8ecfJrdat)ce with CThapier3 0(Part 16 of iheCompaniesAet 2006 and for no other purp￿. We do not, in Si￿n8 theseopinion& aLYept or issume rwnsibility fOranY￿her purpxorto any other ￿[SOn to wbom this report i55hownor inlo wh￿t hands il mayc0rne5a￿WhereexprnIY a8td by OUT priorcorsent in writins. Other required reporting Companles Art 2006 ¢x¢eption reporting Under the CompaniesAct 2006 Vlf a￿ tequired to re[￿ ¢oy(w if. in ouropinion: we ho￿ noi (kntainal all ihe In(orn￿l￿)n aTrd e¥ptsna¢KJThswe require fwollraudil: or • adequate aco)uDtin8 rwonts haiE kept Ey thed4ritatde o)mpany? or relurns ad￿Uats forouraudit have Th)t been reteived from brdnehes nrt￿lted by ￿ or rtain disckwtes of trustees. remuneration specifi81 b). lawarE not made: or Iheeharitableeompany finincialthtementsaTr t￿t in agteemeni *Yth the *eounting re£tsrdsand returns. We have no eX￿PtIOnSto rep)rt arisin8 frorn ihts resp)Th%ibility. Entitlwnent to exemptions Underthe CompaniesAcl 2006￿ra￿ requirryl to tem toyou if. in ouropinion, the irusteeswere not entit]ed to: pyepare finaThcial statements in aecordantt with the small companies. regimv, and tskead￿￿tage ofthe small eompanies exemption from preparinga strai￿￿￿￿. We hai* no ex(tpiionsto rep)rt arisingfrom this sponsibility. Jonathan Bound (SeniorSt8tsJt¢xyAvditor) for aTrd on of Pricew4terh(MJseCo)ws L Charternl Amntants and SialUt￿ A￿1110 Bris￿1 23 Augiist 2024 The OVO Ch*ritable Foundatio Stslem¢nl of Finaneial Activities for the Year Ended 31 December 2023 (Including Income aNd ExpellditTAre A¢¢ount) Totxl 2023 Totxl 2022 N•t¢ Incorne from: Donaiions and legxies Investmenr itKome I,O(X).É79 17.993 1.066,144 1,701 Totsl Income 1.018.872 1.067.845 Expendilure on: Interest payable Chirithble activities (330) {1,096,704) (191 (939,3301 Tots] Expenditure Net (expendilureyincome {1,097,034) {939,3691 (78,162) 128.476 Net movement in fuTrJs {78.162) 128.476 Re¢oThcili*tioN olfu•ds Tot￿ funds brought foThvard 1.894,423 1,765.947 Total Carried fonvard 1.816261 1.894.423 All of ihe charity% activities derive from coMinuiNg owatiorts during the year and all funds are unrestricted. There are no reco8nised 88ins or losses other than those included in the Statement of Financiaj Activities abc*Ve. The OVO Ch•ritsble Found•tioD (Registration number: 08908420) Bala4ce Sheet as at 31 December 2023 21J23 2022 Current xssetj Cash w bank and in h8nd 1.841.261 1.894.423 Creditors: f•lliDg dw¢ wlthin y¢•r 25.(￿•0> r4¢1 ￿ets 1.816,261 1.894.423 F￿ndS of tht eharlty: Unrestrieted ithtome fuAds Unrcstri¢ted funds 1,816.261 1,894,423 Tot*1 fu*ds 1.816.261 1.894.423 The tWU5tees aCk￿wItds¢ their re5pon5ibilitiC5 for ￿MplYing with the requirements of the Arf with respect to a¢countinB records and the preparation of Financial Statements. These Financial Statements hav¢ been pyepaffd in xcordanLY with the provisions appli¢able lo ￿MpanIeS subject to the small companies regime. These FinancL31 Statements on pa8es 26 to 33 wEre approved by thE tru5trc5. and autlKyriscd for issue on 23 August 2024 and sig1￿d on their behalf by: Gina Cicerone Truslee PH8e 27 The OVO Charitable Fouwdalion Cash Fknv Statement for the Y¢ar Ended 31 December 2023 2•23 2022 N4)tt Cth nows (thsed InVgenern¢ed from oper*W #divilies movem¢nt in funds (78.1621 128.476 Rewn¢iling itenu lo operntimgt*sh noivs Interest irKome Interest payable 117,9931 330 (1,701) 39 {95.8251 126.814 W•rklng e*pltal *diustm¢Ats Decrease in dekns Increasel{decre4se) in credit Net ¢ash flows (us¢d inysener￿ed from oF¢￿ill8 ￿1vitIeS 3,546 22.936 25,000 {70,825) 107.424 c￿kn Iknws from investing Activitie5 Int¢Test re¢eived 17.993 1.701 C*sh llows fro￿ finattdng letlvfties Int¢r¢st paid Net (decreaseYin¢ffag¢ in Cash at bank and in hand 330 {39) (53.162) 109.086 Cash at bonk and in hand * l January 1.894.423 .785.337 Cash at bank and in hartd at 31 Decemttr 1.841261 1,894,423 All of the cash fkjws ar¢ derivel fiL¥n continuing opernuons the ytar. Page 28 Tke OVO Charitsble Fouud*tio Note5 to the Financial Statements for the Year Ended 31 December 2023 l General knlonmllon The Company is a priv￿¢ company limiied by guaranfe¢ Inc￿[￿ and domiciled in the ihe United Kingdom. The nalure of the coMw￿S cwations aThJ wirtipal xtivitiEs js set out in ihe Directors. Report. Th¢ address of its registered office 15: l River8ale Ternple Quay Bristol England United Kin81kn? BSI 6ED 2 Actounling policies Summary of 5i8nificiNt A¢¢0￿1¢1￿1 policies key *c¢o4ntiwJg ¢stim•t¢s The principa] accounting rrf)licies applied in the prepaiation of the5c Financial Statemcnts arc sct out below. These Wbli¢i¢5 ￿ve trten ci)n5isl¢nily 3pplied to 311 th¢ years pr¢5ented, unless oth¢nvise stated. Statement of eompliance The Financial Stat¢m¢nis hav¢ been pre￿1¢￿ in xcordance with Acwwlling and Re￿)rt￿￿ by Charities: Statement of Recommended Pyadice applicable to clwiiies PTep¥ing their Financial Statements in ac￿rdanCe with Ihe provisions applicable io compknies subject kn the small eompxnies regime. (FRS 102A) - (Charities SORP IFRS 102lk the Financial Re￿rtIng Standard applicabk in the UK and Republic of Ireland (FRS 102A) atwj the Compani¢5 Art 21Th. B*sb of prepar*tlon The OVO Charitsble Foundation meet5 the definiti￿ of a pthlic benefii entity under FRS 102A. Assets and liabilities are initially recognised at histhrical or Iran5*1ion valuE un1¢5s otherwisc 5tatd in the relevant accounting wTrlicy notrs. GoI￿g coneern These Financial Statements have been prepared on the goin8 concern bLsis. The tn]stees eon5ider that there are no material un¢ertain¢ies ab￿1 lh¢ chariry's ability w o)niinue as a going concern nor any significant artas of uncertainty affect the carrying value of assets held by the clwity. Incorne Volunlary income includin8 donations. 8Lft& le8acies and grants that provide core fundin8 or are of a generdl nalurc is recogniscd when the charity h&$ cnlitlcmtnt to the fi￿ts. ccrtainty of receiN and the amounl can be mcasured with syffi¢iert reliability. Donatlons *nd kg*des Donations and legacies are recognised on a ￿tti￿able bASiS *tr*re thert is certainty of recei￿ aThJ the amoun¢ can be reliably measured. For Customer donatiott& ihis is WI￿ thc cash is ￿tlY¢d. The OVO ChariQ2bk Foundatio Note5 to the FiDanei*l Sts¢¢D￿ts for the Yur Ended 31 December 2023 2. AccowThti*t PoU¢les c•mtmwed InveSt￿ethI l*eome Interest on fimds held on de￿)511 i$ included when rrceivable and the amount can b¢ mwured reliably by the charity. this is nornHbly upon Th￿lf￿￿10n of the inlerest paid or payabic by the b•th. Tr*de dtbtDrs Trade debiors a￿ Tewgnised initially at thc iransxtion price. Th¢y ar¢ sybsequenity M￿ured at arnortised cost Using thc effeciive intere* method. le$5 wovision for impairmeni. A PrOv￿10n for the irnpainnent of trade debtors is established when there is ¢￿ie￿1ve ¢viden¢¢ that the dI￿lty will be able to colled all amounts due accordin8 to the original *mLS of the receI￿bkS. Cwh at bank h#*d Cash at bank Ind in hand comwi5es cash i)n and call deP)s1￿ and other short-tern hi8hly liquid investments that *e ttadily convertible to a known ￿0￿nI of t&%h and are Subiea to an insi￿lficant risk of clwg¢ in value. Tr•de tredltors Trad¢ creditors are obligations to pay for Br￿$ or s¢rvic¢s that have been wul￿d in the ordinary ¢out5e of busintt5 from suppliers. A¢c(rtthts payable ¥e cl&ssified currtnt liabilities if the chariry does no¢ have an un¢onditional right. at the end of the ￿pOrting puiod. to defer settlernent of ihc creditor for at lthst twelve months after the reporting date. If there 15 ￿ un¢oMliiional riglrt to defer 5ettlcmeni for at le￿ N¥elve months fter the r¢p)rting thte. they are wcsented as liabiliiie& Trgjc creditors we recognised initially at the trans￿10￿ pyice aml subwuently Mea%￿ at ￿OrtIsed wst using th¢ ¢ffeciive iiiierest method. Tot*1 2•23 2022 G¢tt¢r*l Ge*er*l 21J22 Donations and legacies. tk)nations from companie5. trusts and similar pr{￿eedS I,(*N).879 i.(KJ).879 1.066.144 1,066,144 4 ltsvesthiellt UDrutricted Unrestrlcted fwnds 21122 General 2023 Genenl Total 2022 2023 Inkrcst Iteeiyable and similar ina)me: Int¢r¢5¢ receivableon bank deposits 17.993 17,993 1.701 1.701 Page 30 The OVO Ch*rit*bk FonndatioN Notes to the Financial Statements for the Year EAded 31 December 2023 S ChMril*lAe *¢tivities U#restrieted Unrestricted fulld5 2•23 Tot*1 2023 2•22 Total 2022 Geueral Genernl Grant funding of activitie5 1,096.704 1,096.704 939,330 939,330 P4¢31 Tke OVO Ch*ritabk Foundation Notes to Ihe FiD2nci*l StatenK•ts for the Year Ended 31 December 2023 S. Ch*ritsble Iedvltlts contimHed AwJilysi¥ of ch*rit#bit expendltures The ch¥ity undertakc5 its chfirithble I￿1VIll¢S thTwgh dLThtionsto a numbtt of institutions in furtherance of its chariiable ociivities. £1.096.704 12022 - £939J30) of thc below expthdiulrt was attribu¢abl¢ to unrestricted funds and £Nil {2022- £Nil) to resiTic*d futyjs. U#restrleled fwthds 2023 Total 2023 TotAI 2022 1625 Inde￿ndent People Action for Con5erv¥lic•i 105.570 55,000 19,770 27.793 44.0 87,930 112.209 25.000 64,110 25.000 Apps for Good A5hd¢n Climate Solutions Cultiv￿¢ London 87.930 112.209 25.000 64.110 25.OiKI Eanhwal¢h Eur(ye ¢￿ACTIvE 9029) End Youth Homelessness 14,923 194,541 170.396 Energy 4 Impa¢t En¢r8y Sparks H8mmernmiih Community Gardens Asso¢i8lir Heart of BS13 102.227 141,895 25.( 25,1 25.(KN) 102.227 141,895 25.iKKI 25.(KM) 25.IXM) LaW￿ll¢¢ W¢sli)Th Comrnunity Farm Other grnnts Redcatch Community Garden Rock Trnst 14,453 25.(XN) 29.221 23,0(M) 29.221 82,938 75.927 Roundabout Limited SIMY Communiry Dev¢l¢)pment SpItalf￿1ds City Farm Square Food Founda¢ion Sthdents Organising for Sustainability UK The Benjamin Fourmlation The Children's WiJtyJ 25.(K)O 25,000 25.000 109.687 105.425 25.000 25.000 25,000 109.687 105.425 25.0(KJ 25.OIKI 25,0(Kl 1.096.704 27,526 60201 25,1 25. 25,INKI 1,096.704 Urban Roots Woodlands Community Devehwubl 939,330 Page 32 The OVO Charitable Foundation Notes to the Financial Statsmethts for the Y￿1 Ended 31 D￿ember 2023 6 Tru5¢eu rEmuneratiom alld eAptnse5 No lrystees. nor any persons connected with them. have received any remuneration and any other benefbt5 fn)m the charity during the yelr (2022: same). No trLtst¢es have T￿e1Ved any reimburs￿ expenses from th¢ Charity during the year (2022: same). 7 Ch&rity st8ts$ Th¢ charily is a eharity limited by guarantee and Conseq￿ (kes not have share ¢apitsl. Eadl of the t￿￿te¢S is liable to contribu(e an amoun¢ exceeding £1 (2022.. £1) ￿wardS the assrfs of ihe charity in the event of liquidation. 8 Auditors, mnu*er#tio The auditors, rernuTherntion Co￿￿1t￿ted an audit fee of £1 121)0 (2022.. £6.5￿)). The audit fee is borne by OVO Energy Ltd. 9 Tax*tlo The charity 15 & rcgi51erEd charity aTKI 15 thercforc exempt frDm taxalion. 10 Related p*rty tr*Ns*etions There were no related party trarL4Cti0￿S that were required to be disclosed in the ytsr (2022: none). Page 33