DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
Company registration Iiumber.. 08908420
Charity registration number.. 1155954
The OVO Charitable Foundation
(A company limiied by guarantee)
Annual Report alld Financial Statements
for the Year Ended 31 December 2025

DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Contents
Page(s}
Reference and Administrative Details
TTUStees' Report
2to15
Statement of Trustees, Responsibilities
Independent auditors, report
17to20
Statement of Financial Activities
Balance Sheet
22
Cash Flow Stat¢m¢nt
23
Notes to the Financial Statements
24to28

DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Refer¢n¢¢ and Administrative D¢t#ils
Tru5t¢es l Directors
Gina Cicerone
Katherine Goldsmith
Phillip Kerr), (resigned 2 June 2026)
Thomas Wilson
Roseanne Baxier
Alexandra Doorey (resigned 28 November 9025)
Mahnoor Kamran
Innocent Mutinidi
Thomas Whittle (appointed 2 June 2026)
Principal aMd Registered Office
Floor 5 Crescent
Temple Back
Redcliffe
Bristol
United Kingdom
BSI 6EZ
Company Registration Number in 08908420
F.ngland
Charity Registration Number in
England
1155954
Independent Auditors
Pricewaterhousecoopers LLP
Chartered Accountants and Statutory Auditors
2 Glass Wharf
Bristol
BS2 OFR
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
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Trust¢¢s' Report
The trllstees (who are a150 the charitable company'5 director5 for the PUTP05es of coinpany law) present their
TrL15tee5' report to(Tether with the audited Financial Stateineiits of the charitable company for the year ended i I
December 2025. These Financial Stateineiits have been prepared under FRS 102 and the Charity SORP
{FRS102).
The OVO Charitable Foundatioi) ('OVO Foundation'l is OVO Energy Ltd's ('OVO') charity.
The trusteeg, report also eoiitains infomjation required in a directors, report as required by company law.
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
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Trust¢¢s' Report
A note from our Chair
OVO Foundatioll 15 committed to tackling climate change while ensurinbF a just transition to net zero. We exist
to inspire childreii and youiig people, aiid give them support to thrive on a protected planet. By partnering with
brilliant charities. OVO Foiiiidation helps youiib people coi)nect with nature, leaTn green skills. build
eommunities. and make their voiees heard- ii) schools and beyond.
2025 was the UK'S suni)iest and wam)egt year on record. It has therefore been promising to see continued
attention on cliinate action at a national level this year. The UK gowen)ment's first annual Climate and Nature
statement. for example, recognised the link betmeei) cliinate action and biodiversity prtstection. This is
particularly relevant to the work that OVO Foundatilin supports with children and young people across the UK.
exemplified through projects such as the OVO Foundation Nature Prize. We were also delighted to support
Students Organising for Susiainability UK'S (SOS UK) shadow Curriculum and Assessment Review (SCAR)
which ensured that young people shaped the Department for Education's (DtEI final report, and resulted in the
recommendation of stronger climaie education and sustainability CL)nteni acrL)ss the curriculum.
Our commitment 10 climate education and action hgs been bolstered this year by our svstems change approach
which seeks to address the root causes of issues, rather than just the symptoms. Considering change at a
systemic level has led us to focus our grant making not only on the direct delivery of activities with children and
young people but to also influence the other areas Ihat currently prevent them from accessing quality climate
education and opportunities. Following the publication of our State of Climate Ediication report in 2024, ￿'e
have increased our grant making focused on advocacy. The SCAR is a notable example of this, and ultimately
seeks to infliience policy in order to brin£ about long-terni change. Equally. we lauiiched our Climate
Campaigning Fund in 2025 to siipport our partners with opportunities to engage MPS and policy makers. This
Fund enabled SOS UK to run three events at the ?025 autumn political party conferences. where students
leading their Teach the Future campaign shared their visioii and priorities for quality climate ediication.
In addition, we have lauiiched new gFrants focused oil ueen skills follom'ing initial work with Impatience Earth
in 2024 to better understand where we can have the gFreatest impact within this emerbTin¥ theme. We Iiave started
'orkin¥ with both the New Economics Foundation (NEF) aiid Green Alliance on youth and gyreen skills
research. NEF will be exploring how gFreeii job5 can be route5 Out of youth unemployment but Iieed to also
consider the ba￿lerS which have to date made national progFramme5 inaccessible for tnany. Green Alliance,
eanwhile, will be analy5in¥ how the gFreeii and Al tran5ltions will reshape ski115 demand acros5 12 Sectors by
the mid-2030s. We look forward to sharing the findings from this research in 2026, with a parliamentary
reception anticipated to engage policymakers as well as other funders, employers and young people.
We were also pleased to see our Roots & Routes Fund launch this year. It is hosted by The Blagrave Trust and
also in collaboration with Energy Saving Trugt Foundation. Co-op Foundatioi) and Impatience Earth. The Fund
focuses oli supporting the youi)g people underrepresei)ted in the Llimate justice space. In ?025 we collectively
funded six youth-led organisations and ihree individual young climaie justice changemakers. The Roots &
Routes Fund is having a greaier impact by also funding the infrastruciure organisations M,ho they work ￿1th,
who will be receiving grants in earl}. 2026. Next }'ear we will also be focused L)n continuing to build the
evidence base for youth-led climate justice and gathering leamings from working alongside other funders in this
innovative way.
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
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Trust¢¢s' Report
OVO has alm'ays been a Bri5tol-based company, so we were deligFhted to beuiii supporting ?24 Youth Zone,
located iii the south of the city, a5 a Founder Patron. More than just a Youth Centre, 2?4 Youth Zone will be a
Safe environment for young people in South Bristol to discover their pas5iOI)s and unlock tlieir potential. OVO
Foundatioii is workiiig with 224 Youth Zone to make cliinate education and Iiature immersioii a core part of the
provision. By supportii)g a space outside of forynal education we are pur5uiiig our Systems change approach to
our w'ork, ensuring that more children and youi)g people build knowledge, skills and confidence to take climate
action through hands-on leamiiig. We look forward to supporting 224 when it opens in suminei 2026.
As part of our sygtems change thinking, we've incieasingly coi)sidered how we fund too. Ii) 20?5 we signed the
Institute for Voluntary Action Research's {IVARI funding commitments. These commit us to adopting more
open and trusting practices thai reduce the burden on those we fund. More details on our approach to these
commitments can be found in ihe report.
Alongside these new areas in 2025, our long-standing ￿'ork has coniinued in schools and communiiies across
the UK. Our Climate Changers programme supports children and young people wilh greater access to quality
climate education and nature. During Ihe 2024125 academic year. we have created green spaces in 25 schools
across the UK through the OVO Foundation Nature Prize, bringing our total to 75 to date. We've also helped
170 schools 10 save a total of £597,000 on their energy bills Ihrough oiir work with Energy Sparks. Our work
with Apps for Good has supported over 6,000 students to develop digital skills by creating climate action app
prototypes, and supporting SOS UK'S Teach the Teacher programme has enabled hundreds of students to talk to
their teachers about the climate and ecological crises and demonstrate how climate education can be ￿0Ven
through the entire curriculum.
We have also supported 13 partners through our Community Impact programme. During the 202412025 grant
temi. our charity partners engaged over 4,000 children and young people in increasing community acces5 to
local green spaces, and offering opportunitie5 to take climate action. These partners are largely bascd in Bristol.
London and Glasgow where OVO has offices ￿,hiCh means that, in addition to the grants we provide. we can
also en¥a¥e OVO staff to volunteer their time too.
We are extremely grateful to OVO, their customers and staff for their coiitinued support of the Fouiidation. We
are also thankful to our partners for their tireles5 hard work and detenninatioii to 511PPOrt children and youiig
people. Fiiially, I would like to thank Alex Doorey who departed OVO and OVO Foundation's Board this year
and showed great support and dedication to our work.
Gina Cicerone
Chair of Trustees
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Trust¢¢s' Report
Introducing The OVO Charitable Foundation
A greener, brighter future for the next generation
In 2014, Th'e launched OVO Foundation - OVO'S climate-focused charity. Ever since, we've been here to inspire
childreii and youiig people and gFive them siipport to thrive on a protected planet.
By providing funding for brilliant charities, we help young people connect with nature, learn green skills, build
eoinmunities. and make their voices heard. This leads to less ecowanxiety. better wellbeing. and a lifetiine of
elimate action.
The changemakers of tomorrow
Fighting the climate crisis is a shared responsibility. But it-s children and yL)uiig people that it will atTect most.
So it's our mission to give them the education. opportunities. and support the}, iieed 10 stand up for our planei.
Young people are the changemakers of tomorrow. We're committed to improving their lives right nL)w, and
setting them up for the future. It's w,here ￿'e know we can make the biggest impaci.
Here's a snapshot of our work
A￿'ardIng schools with prize funding to make their grounds greener
Helping studenis make their schools more energy efficieni
Giving young climate activists a plgiform 10 influence decisions and policy changes
Teaching young people how to use tech 10 help the environment
Campaigniiig for bctter climate educatioii and action
Setting up green job placements for young people and researching green skills
Ernpoivering communities to spend time in nature, and kickstart local climate action
Our customers are the key
Everythiiig we do at OVO Foundation is funded by generous donations from OVO customers. And 100% of that
oney goes directly to thi5 work.
2025 achievements
Over £1.5 million granted to our charity partners in 2025
More than 25,000 children and young people benefited from the projects that we supported
Access to green space and nature increased in 25 schools as pan of the OVO Foundaiion Nature Prize
170 schools saved a total of £597.(100 on their energy bills lin the 2024125 school year) through OVO
Foundation's support of Energy Sparks
We woii Silver for Besi Foundaiion at the Corporate Engagement Awards
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Our role 8 funder
Making change happen
We know that to create lastingF changFe. M'e need to be there every step of the way. Froin makiiig sure all childreii
have gFreeii space5 111 their local area, to traiisfom]ing cliinate education in schoo15, to giving young people the
right skills for the green careers of the future.
We take these steps by parthering with charities: and funding projects that make a significant impact in schools
and local communities. At the san)e time. we wai)t to tackle the root of the issues young people fate, ai)d the
barriers in the May of green careers. So we also support researcl) and share everything we lean) with other
charities, youth activists. and policymakers. All of our grant making is guided by our theory of change. and we
continue to focus on how we can achieve systemic change in all of the work thai we support.
Six Conditions of Svstems Change
Over the last two year5 we have embedded FSG'5 'Six Conditions of Systems Change , shown above, into our
gra]itmaking decisions and practices. Thi5 'inverted triangle" frainework illustrates that systemic inequity can
be tackled by addressing visible, stnjctural factors alongside iiivisible. transfom]ational elenients. The
'condition5' at the tliree levels of Structural, Relational and TraiisfoTmative change are Policies, Practices,
Resource Flow5, Relationsliips & Connections, Power Dynainics aiid Mental Mode15. These
are the coiiditions lioldin¥ social and el1viron￿enlaI probleins in place and are intertwined. Workin¥ acros5
multiple coiiditlOll5 and particularly includin¥ the iinplicit and semi-explicit 'mental niodels,, 'relationship5 &
connecti0115' and 'power dyiiamic5' coiidit10115 will result iii la5tillg iTnpact.
As a funder. the framework has been a helpful tool to guide decisions about the types of work that we fund.
Moreover. it has also helped us io consider and improve our own practices in order to ensure we achieve the
greatest impact possible.
Our commitment to tlexibility
As outlined above, we have made great strides in our commiiment to systems change over ihe pasi two years.
During this process we came to the realisation that we should not only be examining what we fund, but also our
behaviour as a grant maker. This resulted in us committing to the IVAR 'Open and Trusting, funding
commitments in 2025. which recognise thai voluntary organisations should be supported through more flexible
funding in Lirder to deliver better outCLimes for communities. The eight commitments are..
Don't wasie time
Ask relevani questions
A¢cepi risk
Act with urgency
Be open
Be flexible
Communicate with purpose
Be proportionate
While we were already doing well in some of these areas. as the feedback from our partners in our 2024 grantee
su￿eY demonstrated, sitwning up to the commitments has impacted how M'e make and manage grants. The
iminediate actions we have taken are updating our reporting and grant agreement ten)plates to ensure they are as
concise as possible. updatin¥ our application processes w'htrt possible, and 5iinplifyin¥ our due dili¥ence. We
'ill endeavour to continue embedding these commith)ents into all of Our grant inaking and grant managemei)t
¥oin¥ forwdrd. aiid regularly review our pro¥res5.
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Collaborating with other funders
In ?024 Il'e beuaii developing a pooled ￿1]d with the Blagrave Trust, Energy Saving Tn]5t Fouiidation, Co-op
Foundatioii and Impatieiice Earth. Thi5 lauiiched in 20?5 as the Roots & Routes Fund. and seek5 to siipport
those undetTepresented in the climate jiistice space as well as the infiastructure orgFani5ations that they depend
on. By supportii)g yoiith-led orgaiiisations. individuals and infrastTUCture we are haviiig a greater role across
multiple systems change conditions. In addition. this model reduces risk for funders who have typically avoided
fui)dii)g individuals and sinaller organisations. In 2025, we lunded six youth-led organisations and three
individual yout)g climate justice changeinakers. You cai) find out more about them in the report below.
Working with OVO
We are prliud to have the continued support of OVO in matching OVO customer donations to the Foundatilin
and covering our costs. which means that all of ihe funds raised go directly to our work.
Plan Zero
OVO Foundation's work fomis a core part of Plan Zero, OVO'S sustainability strategy. This strategy is based
around three pillars.. Climate, Customer and Culture and sets out how OVO will become a net zero biisiness by
2035. Our fiinded projects drive towards a greener future for the next generation, customers support our mission
with their generous donations and OVO People support Ihrough volunteering.
Volunteering
As OVO'S charity, we are able to harness the support of OVO People to ensure the projects that we support
make the greatest impact. A key opportunity for this is volunteering, where we gain the time, skills and
dedication of OVO stsff to siipport our partners.
We also have a dedicated internal 'Friends of the Foundation, ne￿.Ork, a group of nine OVO colleagues who
are dccply engagcd in our work. Each Friend is biiddied with one of our charity partners, enablin£ us to build
even deeper relationships with them. They receive regFular support and iietworkin¥ from the OVO Foundation
teain and are a valuable resource to chainpion our work across the company.
Case Study
In July ?025, Hatnmer5mith Community Gardens welcomed 8 voluntee[5 from OVO to help on their Phoenix
Farin 5lte in White City. The fann 15 a valuable resource for local schools, coinmunitj. ¥roup5 and residents.
With several glasshouses, polvtunnels. beds and wildlife. there's plenty of opportunities lor volunteers to
support- with tasks varying froin weeding, watering. dI￿oIn& harvegting. pruning, and repairing raised beds.
'It was great to be outdoors and doing something productive as a team for the local commuiiity. The organisers
were very helpful and engaging. We were givei) enough trust and ownership of the tasks we were doing. but
they were always there to offei guidance whei) needed. It Mas fun to do soinething that's so different to the day
job and know you're making a positive impact L)n the chariry. The day was refreshing, tiring and great for team
building. Plus I felt a great sense of achievement at the endl"
OVO Volunteer
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Our funded programmes
Climate Changers
Oiir lonuF.staiidiiig Climate Changer5 programme 5UPPOrts climate action and education projects iii schools and
ediicational settiiibFs across the UK. We've committed more than £2.5in of funding to this area of work since
2020, when Energy Sparks joined the progTamme. We have been M'orking with Ashdeii, SOS UK and Apps for
Good siiice 2022 ai)d have hiuFhligFhted some of the achievements over the last three years below. We have also
pointed to how we will be working with these partners into 2026.
EnergF Spur
Energy Sparks provides a school-specific energy management tool and educatiot) programine for pupils and
staff that Combines data from sn)art n)ttets. solai monitoring systems, schotsl Lalendars and weathei data to
provide tailored energy-savin¥ insights and caTbon-eutting actitsn prompts. A unique feature of Ei)ergy Sparks is
the way that pupils are supporttd to use real-miorld energy data to infonn energy saving and educational
activities.
OVO Foundation funded 170 schools using Energy Sparks during the 20?4125 academic year. The average
electricity saving for Ovo-funded schools, was 8 /0 for primarv schools and 6/0 for secondaries, resulting in an
average saving of £ 1.000 and 0.9 ionnes of C02 for primaries, and £10,500 and 7.5 ionnes C02 for secondaries.
•of the l J6 scholils with enough data to make comparisons frlim previous year
We have continued our partnership with Energy Sparks for Ihe 202512026 school year, in which we continue to
fund 170 schools to access the plarform, as well as 30 educational workshops for students to deepen their
engagement with climate education.
A.vhd£
We ￿nded the OVO Foundation Natur¢ Prize- part of Ashd¢n's Let's Go Zero campaign - for 3 years between
202?_20?5. awarding schaols either £1,000 or £200 to implemeiit nature-focused projects that increased access
to iiatllre among their studcnts aiid coinmunities. Over the three years. 75 schools across the UK have received
nding for a wide range of projects that spanned from onsite apiaries to creating wheelchair ac¢essibl¢
allotments.
Each winiiing project was Selected based on its potential to kick-start climate action, bringF students and
coinmunitie5. particularly those with least access to nature, closer to it. aiid boost biodiversity on school
ground5. To date the Nature Prize has reached 35,632 student5 and 4.660 staff: alongside the 75 coillmunities of
the winning schools.
One of our winning schools shared.. 'We are so excited to wii) this prize as it will help us to develop our
butterf]y garden which will be dedieated to Dr Jane Goodall. Our aim is to encourage as many butterf]ies onto
our n)eadtsw which is at the botton) of our school field and become part of the butterfly corridor in Kent. The
older children can't wait to teach our younger childrei) all about the life cycle of the butterf]y and why they are
so importaiitl-"
Ms de Roeck. Deputy Headteacher. Goat Less Primary School.
In our continued partnership with Ashden, in 2025n026 w'e are awarding 30 schools with a £500 prize to
implement a nature project across one of three areas.. Adaptation and Resilience, Green Skills. or Community.
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Trust¢¢s' Report
Skudenls OigonisiKg}or SuslainabilEtv-UK (SOS-UK)
The DfE'5 Sustainability and Climate Cliange strategy strategy provides a policy framewoTk for better quality,
inteurated climate education, but teachers do iiot receive specific trainingF iii how to deliver this, and SOS UK'S
research shom's that they often lack ski115 and confideiice. Since 2022, 468 Students have been 5UPPOrted throii
the Teach the Teacher project to talk to their teachers about the sustainability topics they recogFnise as important,
including trainee teachers in ITE settings.
Of the 300 pupils who provided feedback, 98 /0 said that participating in Teach the Teather has helped them
believe they can l)ave a role in taking actioi) 01) climate chai)ge in their school. 93/0 of teachers reported
in)proved understai)ding of the perspectives of young people relating to climate.
In 2024125. SOS UK expanded their project delivery to include Teach the ParenL which supports young people
in thlking to their parents. guardians and carers about a variety of sustainability topics and what they can dLI to
address them. FolloM'ing models of behavioural change theory. easily accessible resources are given to young
people ￿'hO are contemplating action but facing barriers of knowledge or CL)nfidence. 28,391 young people were
reached through ihe campaign. majoriry via social media of the young people taking part.
Continuing our work with SOS UK in 2025126, we are supporting ihree strands of activity.. Teach the Pareni,
focusing on ITE settings to reach teachers early in their career, Teach the Future, which will use advocacy and
influencing to lock in curriculum reform long-temi, and a development pathway for children and young people
offering training mentoring, and recognition for individual and collective action.
App.sfor Gnfjd
Innovate for Climate Change is a creative technology coiirse that educates young people about the climate crisis
and supports them to develop app prototypes that can help tackle it. Over our 3 year grant with Apps for Good,
the course directly engaged 15,892 studcnts a(Ted 11-14 and 382 teachers across 285 schools. Notably, 600/0 of
the participating schools operated in challcnging circumstances. The project also benefited from the support of
OVO etnplo)'ee voliilitee￿, woA(ing directly with our student5, sharin¥ insights and career experience. as well
as giving them valuable feedback on their app idea5.
Both students and teachers report strong positive outcoines, validatin¥ the effectiveness of the project-based
learninu inodel..
Ski115 Development.. 84Q/o of students reported improvingT essential ski115 such as problem-solving, teamwork.
and creativity. Furthemlore, 69/0 of students iinproved their digital skills. including prograinming, codiiig. and
product design.
Climate Action.. 64/0 of students reported an increase in confidence and inspiration to take climate action as a
result of the course.
Teacher Confidence.. IOO°/o of responding teachers reported increased conlidence in teaching about climate
change and recognised the value of integrating computing with a cliinate context.
Innovation.. Students generaied 221 entries to the Apps for Good Showcase. sharing their innovative climate
actilin app ideas
In our 2025n026 grant. we're supporting 240 teachers across ?00 schools to deliver Innovate for Climate
Change, aiming to engage over 8000 students. We have also provided an additional grant to Apps for Good
focusing on the user experience of their platfomi. This includes the design and build of a new user platform to
create a smoother experience for teachers, and greater dats management and automation for the Apps for Good
staff team.
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224 Youth Zone
Toward5 the end of 2025 we begaii siipporting 224 Youth Zone, based in Soiith Bristol. The doors to the centre
'ill open in sumnier 20?6. and they expect to 5UPPOrt more than 5.000 young people each year. ?24 Th'ill offer
20+ creative and sportingF activities, etnployability programmes and tnental health support- Rll aimed at biiilding
confidence, skills and aspiration.
Our grant is supporting 224 Youth Zone to make climate edutation and nature immersion a core part of the
provision. Thig ii)cludes'.
Building ki)owledge, skills and coi)Iidence to take cliinate action through handS￿n leaming
Access to nature through off-site residentials ai)d outdoor activities
Young people being empowered to lead environmental action campaigns in their communiiies
Community Impact
Iii 20?3. OVO Foundation launched the ComTnunity Impact grant programme. Since then we've partnered with
23 local charities. empow'ering cominuiiities to spend time in nature, and kickstart local climate action.
We partnered with 12 charities betweeii July 2024 and June 2025, based iii Bristol, London and Glasgow, near
where OVO people live and work. as well as other areas of the UK.
Froin cotnmunity ¥ardens to community hubs to city fa￿￿5. each project we supported varied, but worked to
deliver Similar outcomes.. to ¥ive children aiid youii¥ people opportuiiitie5 to speiid time iii nature, acces5
cliinate educatioii, improve their health and M'ellbeing, and take local cliinate action.
In 20?4125, our 12 partners reached 4.017 children and young people from their local communities. For instsiice
The Children's W(x)d iii Glasgow engaged priinary school children. most of whom had no gardens at home, in
haiids-on. outdoor edueational experiences thai focused 01) understanding and supporting local biodiwersity. One
teacher of Duiiard Primar), Sch(iol shared.. 'wa￿hirtg the children thrive in the outdoors - exploring nature,
leaming about local habitats, discovering how, bees contribute io our environment. and even developing
practical lite skills like safely makii)g a fire
has been brilliant. The conlidence, teamwork, and curiosity
they've gained through these sessions M'ill stay with them far beyond the classroom. We're very grateful for the
support from the OVO Project. which has made these experiences possible and helped us nunure a love of
learning for the natural world in our pupils."
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At Kei)tish Tom'ii Cit), Farm in London. IOOQ/o of the )'oung people who took part felt they Iiad niore opportunity
to connect with iiature, with one Youi)g Fam]er sharing. We feel 50 Inuch more coniiected to the area and
coinmunity through the Fartn - meetiiigF new people and beii)g with the aniTnals. It'5 the only occasion I get to be
'ith fam] anima15 as I live in the City, and when I grow up I wa]it to be a farmer, 50 that's really importaiit.,
Bristol Tree Crdft's Green Machine sessions ei)gaged childrei) in a densely populated area of Bristol with lew
green spaces and high rates of youtl) criminal activity. The sessions involved traditioi)al woodcraft. and offered
an early intervention to help thildrei) connect with i)ature. Tl)e team at Bristol Tree Craft shared the iinpact of
our funding." 'The OVO Foui)datiot)'s support has been a cei)trdl pillar in Bristol Tree Ciaft's capacity to bring
people ii)to relationship with nature ai)d make at-risk young people the leaders of a fairer, greener w'orld. Their
trust in our knowledge of community needs, flexible approach and consistently clear communication has given
our small organisation the strength ro bring big change 10 the lives of those we serve."
In July ?025 we commenced new one-year grants with l ? charities. 2 of which were new to our Community
Impact programme.
Green Skills
Ensuring thai the next generation are eqiiipped for the futiire of work is vital for the greener, brighter future that
OVO Foundation strives for. That megns understsnding the skills and jobs that will be required, and ensuring
that young people are educaied, motivated and empowered to step into Ihese roles.
In 2025, OVO Foundation launched our funding in the Green Skills space, partnering with five chariiies
delivering in three different way5'.
Our research grants with NEF and Green Alliance are looking at the barriers to accessing green jobs faced by
young people, and what skills they will need for the rapidly changing labour market that is being reshaped by
greeii and digitsl trdll51tions.
Engineerin£UK and Another Way's projects aim to inspire school-aged children to consider futiire green
careers, and find out what Skills they'll need to develop.
Yoiith Environmental Service are running paid placement5 for youn¥ people in the environmentsl sector. In the
2025 AU￿illn cohort. YES made 9 placen]ents at 8 different employer5.
We look forward to seeing the impact of this new area of work in 2026.
Green Match Fund
OVO Foundation participated as a Chainpion in the Green Match Fund. run by The Big Give, for the first time
as part of the 2025 campaign. This approach allowed us to support a diverse range of charities working to
achieve our n)ission in a number of ways. helping to expand our in)pact beyond our own grant programmes.
Taking part also enabled us to deepei) our relaiioi)ship with the Environmental Funders Network. who support
the Big Give in delivery and are an important seLior convener.
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Trust¢¢s' Report
The charities we ￿nded ￿'¢re..
Another Way.. supporting orgai)isatioiial development, iiicluding climate workshops in schools
Ecoactive.. environmentsl activities for young people
Global Goals Ceiitre.. u5iii¥ Eartli Daj. to iiispire environmental action
Commonwork Trust.. creating enviroiiniental champioiis througFh nature vislt5
Swansea Comn)unity Fam).. for youth.led eco events
Wildside Activity Centre.. for an enviroi)mental education programme
Intereliinate Trust.. supporting youth advocaty ahead of COP30
Woodcraft Folk". an outdoor leamii)g space for youi)g people
The charities raised £98,019 in their campaigns. meaning that each £1 we contributed led to additional £2 of
funding.
Roots & Routes
In June 20?5 the Roots & Routes Fund awarded £103,000 to six youth-led organisations who are fighting for
climate justice..
A WETHU.. A school for climate justice changemakin& empowering Black African and Caribbean youth aged
18-24.
Earth Tenders- A Black-led land justice initiative in South London, reclaiming land for community use and
food growing.
The Land Collective.. Supporting underrepresented young people to pursue careers in sustainable built
environment5.
Youth Climate Collaborative.. Building youth leadership through training.
community-building.
MAFIA Wcckcnd. A majority LGBfoiA+ organisation using participatory story1elling to amplify
underrepresented voices in climate justice.
Time to Grow.. A ¥rassroot5 group promoting food 50vereignty and local growin¥ as tools for climate and
Social justice.
convening,
and
In October 2025, Roots & Route5 a150 ￿nded three young ChangeMake￿ through Blagrave Trust's 'Challen¥e
leadership development pro¥ramme. Each youiig person received £10,000 in fui)ding, wellbein¥
5UPPOrt, and acce5S to expert mentorship and personal developrnent opportunities.
In 2026, Roots & Routes will be having a greater impact by also funding the infrastructure organisations Who
the youth-led organisations and young changeinakers work with. We will also focus on contii)uing to build the
evidente base for youth-led Llimate justice. We are currently working with a storyteller who will help us
develop a narrative for the Fund. with first outputs expeLted iii sunimer 2026. This includes progressing plans
for strengthening governance (including youth leadership) and deepening relationships with other funders to
secure longer-term commitment. In addition. the fund will prioritise leaming from its grants, supporting cohort
connectivity, and refining its model to grLlW a stronger, more resilient ecosystem L)f youth-led L)rganisations
acrLlSS the UK.
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Trust¢¢s' Report
Climate Campaigning Fund
We launched the Climate Campaigning Fund for existing land previousl partners to apply for ￿nd11]g for their
influeiiciiigF aiid advocacy woA(. This came from seeing how challengFing it is for charities to get funding for
advocacy WOTk, and of how successful our support of the SCAR had been.
In 20?5. we funded Bristol Tree Craft lone of our Comn)unity Impact partners) to hire a Marketii)g & Advocacy
lead to promote their commui)ity and youth-led climate work. We also funded SOS UK to rui) party confeience
events at the Liberal Democrats. SNP, and Green Party conferences, which gave students a platforni to share
their vision and priorities for quality climate education with MPS and policy Inakers.
Shadow Curriculum and Assessment RevieiTr (SCAR)
One of the recommendations of 'The State of Climate Education,, a report published by OVO Foundation in
2024 was curriculum reform. Specifically a 'shadow' review of the olyicial curriculum review ihat had been
launched by the new Labour government in ihe summer of ?024. We were concerned about the inclusilin of
youth voice in the otyicial review. wilh no young people included on ihe L)fficial panel.
Our existing partner SOS UK put forward a proposal 10 conduct a youth-led Shadow Review, to ensure the
voices of young people are heard, which OVO Foundation was delighted to fund. The Shadow Panel mei
bi-weekly with those leading the Curriculum and Assessment Review from the DtE during the months of the
SLAR'S key activities.
The Youth Shadow Panel launched their final report in the Palace of Westminster on 8 July. This event was
attended by several MPS, DtE Review representatives and 80+ people working acr05S the education sector.
including subject associations and exam boards. Nadia Whittome MP spoke at the event and piiblishcd an article
on the Youth Shadow Panel and their report.
The final SCAR report mirrors the Youth Shadow Panel's 14 recoinmendations, including..
five key 5killslknoM'ledgFe area5 set-out.. climate and sustainability education. digital, media literacy (including
nij5- and di5infom]ation}, oracy. and financial literacy
Education oil cliinate changye and 5llstaiiiability to be more strongTly integrated throughout citizenship, sciences,
Teouraphy, with 5UStainability intewted into D&T (including food and nutrition)
Citizenship to be mandatory at all key 5ta&Tes
Enrichinent entitlement which includes acce5S to nature and outdoor5
reductioi) ii) exam burden at GCSES
More focus on the solutions to climate change
students to'see themselves reflected in the curriculuin.
The Shadow Review's interini report is referenced in the Review's report in relation to young people wanting
to learn more about climate change.
Our funding of this work shom's our commitment to supporting systemic change, with the potential impact of
this reaching millions of young people and revolutionising climate education in England.
'[ want to really express my gratitude to OVO Foundation for yL)ur trust in us to do the Shadow Review - your
funding made the SCAR possible. and we know from our conversations with senior representatives that our
influence particularl}, pla}'ed a role in sustainability featuring as one of those five skillslthemes, the enrichment
entitlement, and the reduction in exam burden ai GCSE. Yoiir quick support allowed us to be dynamic and
reactive to the policy landscape, nabbing an opportunity for meaningful influencing, and bringing on board all
the right partners, and this delivered genuine resulLs. Thank you so much for your support."
Quinn Runkle
Direcior of Campaigns and Advocacy, SOS UK
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Trust¢¢s' Report
OVO Foundation priorities for 2026
In 20?6 we will..
Continue to centTe systems changFe thinkiiig in our work, including expanding our support for partiiers,
advocac}. and deepening our own focus on research.
Deepen our understanding of the needs for and challenge5 5UtTounding green skills ii) the UK, and use thi5
kno￿ledge to further shape oui future grant makii)g.
Further embed IV AR'S commitments to opel) and trusting grant making in our work.
Expand our networks. collaboiatints with like-minded partners to Inake ai) even greater impact.
Work with OVO to further promote the OVO Foundatioi) to customers, boosting both awareness and
doi)ations.
Demonstrate on-going impact and value to OVO cusiomers who so generously fund us.
The OVO Charitabl¢ Foundation'5 plan5 for 2025
Financial review
(1) 2025 financial review
OVO Foundation's totsl income at the end of 2025 wa5 £1,170,996 (2024= £1,183,836). Of this. £377,534
{2024.. £391.517) caine from the donation of OVO customers. OVO matched those donations and topped up to
ensure OVO Foundation's incoine of at least £1 niillionl year.
Oui expenditure in 2025 was £1,675,758 {20?4'. £938,566).. please see note 5 of the financial statements for
detail.
{2) Number and i'alue of custotner donation5
OVO customers who are on a pay monthly tariff have the option io donaie to OVO Foundaiion. These donations
are ma￿hed by OVO and, because OVO also covers ihe overheads of OVO Foundation. Ihe funds go entirely to
OVO Foundation's chariiable grant making activity. By December 2025, approximately 37,000 customers were
donating to OVO Foundaiion.
(3) Policy on reserves
OVO Foundation reserves policy states that the reserves 'provide the Foundation ￿1[h adequate financiai
stability to fulfil its charitable objectives and maintain continuity of its core work" and sets out that 'we
maintain reserves equivalent to ai leasi 20/0 of our annual charitable expendiiure. Reserves are set at this level
to reflect the charity's current. planned and project¢d incom¢ and expenditure., The res¢rv¢s policy is revIe￿ed
oil an annual basis.
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Trust¢¢s' Report
(4) Principal risk5
OVO Foiindation ha5 a risk policy and risk register which is reviewed and updated by the OVO Foundation
teain each quarter, and reviewed and discussed by the Board of Trustees where relevant. Principal risks to the
Foundatioii iii ?024 incliided..
F￿l￿re fvNdiKg of 01 O Foundatio
OVO Foundation is funded by donations fron) OVO customers. As a result of the announcement of the sale of
the OVO Ei)ergy Ltd retail group to E.ON which is expected to complete ii) the second l)alf of 2026 a principal
risk lor the loundation is to secure the future of this fundii)g whei) control of OVO Ei)ergy Ltd passes over. The
foundation is currently in a strong net asset position and currently has no reason to believe this funding will not
be available in future years.
(5) Other updates
Welcomin
new trustees
The Foiindation's Articles of Association state Ihat a majority of the Trustees must be independent of OVO
Energy Ltd. In 2025, OVO Energy ￿'ere represented b}, eight trustees with one stepping down in November.
When the Board decide 10 undertake recruitment for other Trustees. either due to a Trustee stepping down or
increased the skill profile of the Board (within the number of Trustees all0￿.ed in our Articles) ￿'e do this by
open recruitment.
Governin
document
OVO Foundation is a charitable company governed by a memorandum and articles of association.
The annual report was apprlived by the trustees of the charity on 20 August 2026 and signed on its behalf by..
64X)F4Q&................
Gina Cicerone
Trustee
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Statement of Trust¢¢s' Respon$ibilitie$
The trustees {who are also director5 of The OVO Charitable Foundation for the purposes of coinpanj. law) are
responsible for preparing the Trllstees, Annual Report and the Financial Statements iii accordance with
applicable law and regulation.
Company law. requires the trustees tl) prepare Financial Statements for each financial year. Under that law, the
trustees have prepared the Financial Statements in accordance with United Kingdom Accounting Standards
{Uniied Kingdom Generally Accepted Accounting Practice). comprising FRS 102 'fhe Financial Reponing
Standard applicable in the UK and Republic of Ireland,. and applicable lam,. Under company law the trustees
must not approve the Financial Statements unless they are satisfied that they give a true and fair view of the
state of the affairs of the charitable Company gnd the group gnd of Ihe incoming resources and application of
resources, including the income and expenditure, of the charitable company for Ihai period. In preparing these
Financial Statements, the trustees are required to..
select suitable accounting policies and apply theTn con5lStently,'
observe the methods and principles in the Siatement of Recommended Practice.. Accounting and Reponing
by Charities (effective l January 2019),.
make judgements and estimates that are reasonable and p￿dent.
state whether applicable United Kin¥dotn Accouiitiiig Standards, compri5in¥ FRS 102A, have beeli
followed, Subject to aiiy material departiires di5c105ed aiid expldined in the Financial Statenient5; aiid
prepare the Financial Statements on the going concern basis unless ir is inappropriate tl) presume that rhe
charitable company will continue in business.
The trustces are responsible for keeping adequate accoiinting records that are sutTicient to show and explain th¢
charitable coinpany's transactions and di5c105e ivith reasonable accuracy at any time the financial position of the
charitable company aiid enable thein to ensure that the Fiiiancial Statements coinply M'ith the Compaiiies Act
2006. They are also responsible for safeguardiiig the assets of the charitable coinpany and hence for tak'ing
reasonable steps for the preventioii and detection of fraud and other I￿egular1tIts.
The trustees are responsible for the n)aintenance and integrity of the charitable company's website. Legislation
in the United Kingdoin governing the preparation and dissemination of Financial Statemei)ts may differ from
legislatioi) in other jurisdictions.
Approved by the trnstees of the charity on 20 Au(Tust 2026 and signed on its behalf by..
..AD¢Ae$>sJADF&g1..................
Gina Cicerone
Trustee
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Independent auditors, report to the members of The OVO Ch#ritable Foundation
Report on the audit of the finaneial statements
Opinion
In our opinion, The OVO Charitable Foundation's financial statements {the 'financial stateinents")..
give a true and fair view of the state of the charitable company's affairs as at J l December 20?5 and
of its incoming resources and applicatioi) of resources, including its income and expenditure. and cash
flows for the year then ended;
have been properly prepared in accordance M'ith United Kingdom Generally Accepied Accoiinting
Practice (United Kingdom Accounting Stgndgrds, including FRS 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland" and applicable law)., and
have been prepared in a¢cordan¢e with tl)e requirements of the Companies Act 2006.
We have audited Ihe financial statements. included within the Annual Report and Financial Statements (the
'Annual Repon"), which comprise.. the Balance Sheet as at 31 December 2025; the Statement of Financial
Activities (Including an Income and Expenditure Account), the Cash Flow Statement for the year then ended;
and the Notes to the Financial Statements, which include a descriptiL)n of significant accounting policies.
Basis for opinio
We conducted our audit in accordance ￿'1th International Standard5 on Auditin¥ (UK) ("ISAs (UK)") and
applicable law. Our re5poiisibilities under ISA5 (UK) are fiirther described in the Auditors, resp0115ibilitie5 for
the audit of the financial 5tatement5 section of our report. We believe that the audit evidence we have obtained 15
Sufficient and appropriate to provide a basi5 for our opinion.
I￿a¥pL￿d￿n¢¥
We remained independent of the charitable company in accordance with ihe ethical requirements that are
relevant tLI our audit of the financial staiemenis in the UK. which includes the FRC-S Ethical Standard and we
have fulfilled our oiher ethical responsibilities in accordance with these requirements.
Conclusions relating to going concern
Based 011 the work we have perforined, we have Iiot identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast significant doiibt on the charitable company's ability. to
continue as a goingF concerii for a period of at least ￿'eIve months from the date on H."hich the financial
statemertts are authorised for issue.
In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of
accoui)ting ii) the preparation of the financial statements is appropriate.
However, because i)ot all future events tsi conditions can be predicted, this conclusion is not a guarantee as to
the charitable company's ability to continue as a going concem.
Our responsibilities and the responsibilities of the trustees with respect ro going eoneem are described in the
relevant sections of Ihis report.
R¢porting on other information
The other information coinprises all of the infonnation in the Annual Report other than the financial stateTnents
and our auditors, report thereon. The trustees are responsible for the other information. Our opinion on the
financial statement5 does not cover the other information and, accordingly, we do iiot express an audit opinion
or, except to the extent othenvise explicitly stated in this report, any fonn of assurance thereon.
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Independent auditors, report to the members of The OVO Ch#ritable Foundation
Reporting on other information (Continued)
In connectioii with our audit of the financial statements. our responsibility is to read the other infoTmation aiid,
in doingF so. consider whether the other iiifotynatioii is Inaterially incon5lStent with the financial stateinents or
our knowledgFe obtained in the audit, or otherwise appears to be Tnaterially misstated. If we identify an apparent
Tnaterial incon5lStency or inaterial mi5Statement, we are required to perform procedures to conclude whether
there is a material misstatement of the financial statements or a material n)isstatement of the other ii)lomiation.
If. based on the work we have perfomied, we conclude that there is a Inaterial misstatement ol. this other
infomiation, we are required to report that fact. We have i)othing to report based on these respoi)sibilities.
With respect to the Trustees, Report, we algo considered whether the disclosures required by the UK Companies
Act 2006 and Charities Act 201 I have been included.
Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report
certain opinions and matters as described below.
Iii our opinion, based on the work undertaken in the course of the audit the information given in the Trnstees,
Report for the period elided 31 December 2025 is consistent with the financial statements and has beeii prepared
in accordance with applicable legal requireinents.
Iii light of the knowledge and understanding of the charitable coinpany and its environment obtained iii the
course of the audit. we did not ideiitify any material tlli5Statetneiits in the TTU5tee5' Report.
Responsibilities for the financial statements and the audit
ReJponJibililies ofihe irusieesfor ihefinanciulsiaiemenis
As explained more fully in the Statement L)f Trustees, Responsibilities, the trustees {whL) are also the directors of
the charitable company for the Purposes of company la￿) are responsible for the preparation of the financial
siatements in accordance with the applicable framework and for being satisfied that they give a true and fair
Vie￿.. The trustees are also responsible for such intsrnal control as they detem]ine is necessary to enable rhe
preparatioii of financial statements that are free from material misstatement, whcthcr due to fraud or error.
In preparing the financial statements, the trustees are respoiisible for as%es%illg the charitable company's ability
to contiiiue as a going concern, di%¢losin£ as applicable, mattcTh related to going concern and iising the going
concern ba%is of accounting unle%s the trn%tees either iniend to liqiiidat¢ Ih¢ ¢haritable ¢ompany or to cease
operations, or have no realistic alternative but to do so.
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Independent auditors, report to the members of The OVO Ch#ritable Foundation
Auditors, resp0fr7sibilitiesfor the audil of1hef1fr7a￿Cl￿l statemenls
Oiir objectives are to obtain reasonable assurance about Th'liether the financial statement5 as a whole are free
froin material mi5Stateineiit, ￿'hether due to fraud or error. aiid to 15sue an auditor5, report tliat include5 our
opinion. Reasoiiable assurance 15 a hibFlI level of assurance, but is not a gFuarantee that an audit conducted in
accordai)ce with ISAS IUKI will alM'aN's detect a niaterial mi5StateTnent when it exists. Misststements can arise
froin fraud or ettor and are considered material it.. ii)dividualls' or ii) the aggregate. they could reasonably be
expected to influence the eeoi)omic decisioi)s of users taken on the basis of these financial statements.
Irregularities, including fraud. are instances of i)on.compliai)ce with laws and regulations. We desigi) procedures
in line with our responsibilities, outlined above, to deteLt material Inisstatements in respect of irregularities,
including fraud. The exteni to which our procedures are capable of deteciing irregularities. including fraud, is
detailed below.
Based on our understanding of the chariiable company and lis industrylenvironment, we identified that the
principal risks of non-compliance M'ith laws and regulations related to the Chariiies Aci 2011, and we
considered the extent to which non-CLimpliance might have a material effect on the financial statements. We also
considered those laws and regulations that have a direct impact on the financial statements such as the
Companies Aci 20(K). We evaluated management's incentives and opportunities for fraudulent manipulation of
the financial statements {including the risk of override of controls), and determined that the principal risks were
related to misappropriation of assets, namely cash. Audit procedures performed by the engagement team
included..
Enquiring with manggement and those charged with govemance to understand the relevant laws and
regulations applicable to the charitable company, and their assessment of fraud related risks,.
Understanding and evaluating the charitable companv's control environment specifically as it relates to
preventing and detecting irregularities and fraud;
Testing of expcnditure on charitable activities to evaluate whether grants have been appropriately approv¢d
and are iii line with the charity's objectives;
Obtaiiiingy bank confitynations aiid testing the bank reconciliation to the year-end position..
IdentifyingF and testing journal entrie5, specificall}. those with potentially unusual entries to bank accounts,.
Obtaiiiingy and reviewin¥ minutes of meetingF5 of the Board of TnJ5tee5', and
Reviewing financial statement disclosures and testing to supportiiig documentation. where appropriate, to
assess coinpliance with applicable laws and reuulations.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of
instances of non-compliance with laws and reoulations that are not closely related to events and transactions
ref]ected ii) financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher
than the risk of not detecting one resulting fron) error. as fraud mav involve deliberate concealment by. for
example, forgery or intentioiial misrepresentations or through collusion.
A further description of our responsibilities flir the audit of Ihe financial statsments is located on ihe FRC'S
website at.. ww.frc.org.uklauditorsresponsibilities. This description fonns part of our auditors, report.
O'.ie of ihi.s veporl
This report, including the opinions, has been PTepared for and only for the charity's niembers as a body in
accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for t]0 other puryose. We do not. in giviJ)g
these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report
is shown or into whose hands it may come save where expressly agreed by our prior consent in WTiting.
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Independent auditors, report to the members of The OVO Ch#ritable Foundation
Other required reporting
Companies Act 2006 exception reporting
Under the Compat]ies Act 2006 we are required to report to you if, in our opinion..
we have not obtained all the infom)ation and explanations we require for our audit; or
adequate accounting records have not been kept or returns adequate for our audii have not been
received from branches not visited by us,. or
certaiii di5L105ures of tru5tees' reinuiierdtioii specified by law are not made.. or
the financial statemenis are nLIt in agreemeni with ihe accoLinting reclirds and retums.
We have no exceptions to report arising from this responsibility.
Entitlement to exempt10115
Under the Conipaiiies Act 2006 we are required to report to you if, in our opinioii, the Trustees w'ere not entitled
to take advantsge of the small companies, exemption from preparing a Strategic Rewrt. We have no excepiions
to report arising from this responsibiliry.
Thomas Dodd (Senior Ststutory Auditor)
For and 011 behalf of Pricewatcrhousecoopers LLP
Chartered Ac¢ouiitgnts and Statiitory, Auditors
Bri%tol
20 Aiigust 2026
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Statement of Financial Aetivities for the year ended 31 December 2025
(Ineluding an Ineome and Expenditure Aceount)
{A5 restated)
Total
2024
Total
202$
Note
Income from:
Donations and legacies
Investment income
1,141,420
29,576
1,159,081
24,755
Total Income
1,170.996
1,183,8i6
Expenditure on..
Charitable aciivities
{1,675.758}
{938.566)
Toial Expendiiure
{1,675.758}
{938.566}
Net (expenditure)lincome
(504.7621
245,270
Net movemeiit in funds
(504,762)
245,270
Reconciliation of funds
Total funds broughi forward
Total funds carried forward
2,061,5J I
1.816.261
1.556,769
2.061,531
All of Ihe charity's aciiviiies derive from continuing operaiions during the year and all funds are unrestricted.
There are no recognised gains or IL)sses L)ther thali those included in the Statement of Financial Activities above.
Details of the prior year restatement are disclosed in note 14.
Page21

DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
(Registration numb¢r: 08908420)
Balanee Sheet as at 31 Deeember 2025
202S
2024
Note
Current assets
Debtors
Cash at bank and in hand
4,825
1,551.944
429
2,001.102
1.556,769
2.061,531
Fullds of tILe eharity:
Unrestricted iNc0￿e funds
Unrestricted funds
1.556,769
2.061,531
Total funds
1,556,769
2.061,531
The trustees acknoivledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and the preparation of Financial Statements.
These Financial Statements have been prepared in accordance with the provisions applicable to companies
subject 10 the small companies regime.
These Financial Statements on pages 21 to 28 were approved by the trustees, and auihorised for issue on 20
August 2026 and signed on their behalf by..
Gina Cicerone
Trustee
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Cash Flow Statement for the year ended 31 December 2025
(A5 restated)
2024
2025
Note
Cash tlows (used iny generated from operating activities
Net mov¢m¢nt in funds
(504.7621
245,?70
Reconciling items to operating cash flows
Interest income
29,576
24,755
(534.3381
220,515
Working capital adjuslments
Increase in debtors
Decrease in creditors
14,396}
{429)
(25,000}
Net cash flows generated (used in)1 from operating activities
(538,7341
195,086
Cash flows from investing activities
Inierest received
29,576
24,755
Net (decreasellincre&se in cash ai bank and in hand
(509,1581
2,061,102
219,841
Cash at bank and in hand at l January
1,841,261
Cash at bank and in hand at 31 Deceinber
1.551,944
2.061,102
All of the Cash flows are derived from coi)tinuing operations during the year.
Page 23

DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Notes to th¢ Financial Statements for ihe Year Ended 31 De¢¢mb¢r 2025
General information
The Compan}, is a private company limited by guarantee. incor￿rated and domiciled in the United Kingdom.
The nature of the Company's operations and principal activities is set out in the Trustees. Rep)rt.
The address of its registered office is..
Floor 5 Crescent
Temple Back
Redcliffe
Bristol
England
United Kingdom
BSI 6EZ
2 Accounting policies
Sumrnary of significant aeeounting polities and kev accounting estimates
The principal accounting policies applied in the preparation of these Financial Statements are set out below.
These policies have been consistently applied to all Ihe years presented, unless othen¥ise stated.
Statement of complianee
Thc Financial Statcmcnt5 have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommendcd Practice applicable to charities preparing their Financial Statcments in accordance
with the provisions applicable to companies siibject to FRS 102 - (Charities SORP {FRS 102)). the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act ?006.
Basis of preparation
The OVO Charitable Foundation meet5 the definition of a public benefit entity under FRS 102. Assets and
liabilities are iiiitially recogFnised at historical c05t or transaction value unle55 Otherwise stated in the relevant
accountin¥ policy notes.
Going concern
These Fiiiancial Statement5 have been prepared oil the going concerii basi5. The trustees consider that there are
no inaterial uncertaintie5 about the charity'5 ability to continue as a gFoin¥ coiicern nor any 5igFnificaiit area5 of
uncertaintv that atTect the carrving value of assets held by the charity. This assessment has beeii based on the
balance sheet position as at year end Deceinber 2025, as well as the position at the date of signing the financial
siaieinents. which has a strong net asset position and a positive review of i)et asset positioii against future
obligations.
Income
Voluntary income including donations. gifts, legacies and grants that provide core funding or are of a general
nature is recognised when the charity has entitlement to the funds. certainty of receipt and the amount can be
measured ￿'1th sufficient reliability.
Page 24

DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Notes to th¢ Financial Statements for ihe Year Ended 31 De¢¢mb¢r 2025
2. Ac¢oun¢ing Policies continued
Donations and lcgaeies
Donations and legacies are recognised on a receivable basis where there is certainty of receipt and the amount
can be reliably measured. For customer donations, this is when ihe cash is received.
Investment income
Interest on fund5 held oil deposit 15 iiicluded whe]1 receivable and the amount can be measured reliably by the
charity; this is nornially upon notification of the interest paid or payable by the bank.
Trade debtors
Trade debtors are recognised initially at the transaction price. They are 5ub5equently measured at amortised cost
usiiig the effective interest method, less provision for impaim]ent. A provi5ioiI for the impaim]ent of trade
debtors is established when there 15 objective evidence that the charity will not be able to collect all amounts due
according to the original temjs of the receivables.
Cash al bank and in hand
Cdsh at bank and in l)and comprises eash 01) hand and call dewsits. and other short-temi highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
ehange ii) value.
3 DoNation5 and legacies
(As restated)
Total
2024
Total
2025
2024
General
General
Doi)ations ai)d legacies;
Doiiations from companies, trusts and
siinilar pioceeds
1,141,420
,141.420 1,159,081
1,159,081
4 Investment income
Unrestrieted
lunds
2025
General
Unrestricted
funds
2024
General
Total
2025
Total
2024
Interest receivable and similar income;
Interest receivable on bank deposit5
29,576
29,576
24,755
24,755
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DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Notes to th¢ Financial Statements for ihe Year Ended 31 De¢¢mb¢r 2025
5 Charitable aetivities
Unr¢5tricted
fund5
Unrestricted
funds
(A5 restated)
Total
2024
2025
General
Total
2025
2024
General
Grani funding of activities
1.675,758
1,675,758
938,566
938,-f66
Analysis of charitable expenditures
Total charitable expenditure for the year was £1,675.758 (2024.. £938,566). This contains donated services from
OVO of £140.800 (2024." £158.5241. The charity ui)dertakes its charitable activities tl)rough doi)ations to a
number of institutions ii) furtherai)ce of its charitable activities. £1,5i4,958 {2024- £780.04?) of the below
expenditure was attiibutable to unrestricted funds and £Nil120?4- £Nill to iestiicted funds. Inlomiation relating
to Ihe 2024 restatement can be fliund within note 14. As at 31 December 2025 £1,605.887 is committed in
grants (2024.'£1.193,082}
Unrestricted
funds
202)
General
Total
2025
Total
2024
Ambition Lawrence Wesion
30,000
24,877
147,510
30,000
24,877
147,510
25,000
Another Way
Apps lor Good
Ashden Climate Solutions
114,810
120,903
120,903
116,461
Blagrave frust
Bristol Tree Craft
i 00,000
100,000
60,000
30,000
60,000
30,000
25,000
30,000
7,633
115,025
EA TS Rosyth
Energy 4 Impact
Energy Sparks
Engineering UK
Environmental Funders Network
120,876
120,876
30,671
2,625
12,500
30,671
2,625
Glasgow Eco Trust
Governors for Schools
12,500
12,500
5.000
5,000
101,650
30,000
Green Alliaiice
101,650
Hammersmith CL)mmunity Gardens Association
IVAR
30,000
25,000
1.000
1,000
7.800
Kelvingrove Woodcraft Folk
Kentish Town City Farni
Kingswood Trust
7.800
30,000
30,000
30,000
30,000
25,000
25,000
Page 26

DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Notes to th¢ Financial Statements for ihe Year Ended 31 De¢¢mb¢r 2025
Unrestricted
funds
2025
General
Total
2025
Total
2024
Lockleaze Neighbourhood Trust
New Economics Foundation
30,000
30,000
25,000
98,505
12.500
30,000
155?66
98,505
12,500
30,000
155,266
Play Wildl
Pulp Fiction
Students Organising for Sustainability UK
Students Organising for Sustainability UK Shadow
Curriculum and Assessmeni Review
12,500
25,000
113,903
30,000
30,000
32,210
The Avon Centre
28,673
36,564
28,673
36,564
30,000
29,962
30,000
100,000
38,076
The Big Give
The Children's Wood
30,000
29,962
30,000
25,000
Urban Roots
We are Grow
25,000
Youth Environmental Services (via Eden Project}
Yoiith Moves
i 00,000
38,076
1,534,958
1,534.958
780,042
6 Trustees remuneration and eYpenses
No tiusttes, ntsr ai)}, persons connected with them, have received any remunerdtion and any other benefits from
the Charity duiing the year (?024.' same). No trustees have received any reimbursed expei)ses froin the cl)arity
during the yeai (2024.. same).
7 Charity status
The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees
is liable to contribute an amount not exceeding £1 (2024.. £1) towards the assets of the charity in the event of
liquidation.
8 Staff eosts
No staff were directly employed by the OVO Charitable Foiindation diiring the year ended 31 December 2025
{2024.. Nil). During the year members of staff were seconded to the Foundation, and the c05t was bome b}, OVO
Encrgy Ltd. The valiie of these services have been included within the statement of financial activities as g
donation and a cost of £140,800 (2024.. £158,524). Infomiation r¢lating to the ?024 restat¢ment of these figures
can be fouiid withiii note 14.
Page 27

DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED
The OVO Charitable Foundation
Notes to th¢ Financial Statements for ihe Year Ended 31 De¢¢mb¢r 2025
9 Auditors, remuneration
The allditors, remuneration constityted an audit fee of £l?,00012024.. £11:800). The audit fe¢ is borne by OVO
Energy Ltd.
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
I l Debtors
2025
2024
Debtor from OVO Energy Ltd
4,825
429
4.825
429
Debtors iiiclude £Nil {2024.. £Nil} receivablt after more than one year.
12 Related party transactions
There were no I'utther related party transactions outside of those already disclosed within statT costs other than
doiiaiions received Irom OVO and OVO customers that were required io be disclosed in the year (2024.. iione}.
13 Subsequent events after the financial period
Sale of com
an
with si
nificant influence over the foundatilin
On I l Ma}, 2026 Energy Transition Holdings Ltd, the ultimate parent company of OVO Energy Ltd. announced
that it had agreed the sale of the UK energy retail business to E.ON. The UK energy retail business consists of
OVO energi, Ltd and its subsidiaries. The sale is subject to regulatory approvals and is expecied to complete in
the second half of 20?6. OVO Energy Ltd has significgnt infliien¢e over the foundation and this influence will
transfer across with the sale of the retail group.
14 Restatement in prior year
Duiing the year it was noticed that services provided by OVO could be reliably estimated and therefore should
be included as a donation and expense within the siatement of financial activities of ihe foundation. As a result
of the restatement an increase of £158,524 has been included within donaiions and expenditure on charitable
aciivities to rectify this within the 2024 period. The 2024 period was the earliest the restatement has been made.
Page 28