2024‑2025
Annual Report and Financial Statements for the year ended 30 April 2025 January 2026
Find it fast
| Find it fast | |
|---|---|
| Chairman’s statement | 3 |
| About us | 4 |
| Trustees’ report | 7 |
| Independent examiner’s report | 10 |
| Financial statements | 12 |
Octopus Giving is the working name of The Octopus Foundation. Registered Charity Number 1161273.
Chairman’s statement
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An exciting year for Octopus Giving
We set up Octopus Giving with the desire to make the most meaningful impact possible. It’s why we’ve always sought to work with smaller charities, because we believe the support we offer charities especially our skills-based volunteering has the most impact.
This year, we continued that commitment with the search for our new charity partners – organisations we could back over a three-year period. It’s now the fourth cohort of charities we’ll have worked with and, as before, everybody in Octopus played their part in the search.
And after an open process, which saw 300 incredible applications, Octopus people chose who they wanted to back for the next 3 years. We’re delighted to welcome Refettorio Felix and Fields in Trust as our new charity partners! They’ll both receive an unrestricted grant of £45k for each year of the partnership.
We’re incredibly excited to go on this journey with both of them, especially given this year’s challenging backdrop for the not-for-profit sector.
Our initial focus has been to support the teams at both charities as they navigate these challenges, through mentoring, knowledge-sharing and the
strong volunteering culture that has set Octopus Giving apart over the last decade. Over the last year, our people, shareholders and portfolio companies have volunteered a total of 13,347 hours for amazing causes.
While plenty of these hours have been targeted at our two charity partners, the total impact has been far broader – with individuals across Octopus choosing to support thousands of different organisations including, for example, local mental health services, foodbanks and befriending services. In fact, we’re now starting to explore new ways that Octopus can support smaller charities, beyond our main charity partnerships. It’s led us to launch ‘Octopus Giving: Pitch + Pledge’, an event for small charities that puts the funding decisions in our people’s hands, with every charity walking away with an unrestricted donation.
We’ve continued to work with other businesses in the group on their own charitable initiatives, too. In particular, we supported the team at Aurora to find their very first charity partners, creating a meaningful relationship with two amazing charities that their people can support for the next 3 years. In the coming year, we’ll also be supporting Seccl on
its search for two new partners, as it closes out two successful years with its fantastic current charities, Aid Box Community and Edinburgh Food project. Octopus Giving has always been about creating true partnerships with brilliant smaller charities. It’s been wonderful to see more and more of these partnerships come to life over the last year, to create something truly special.
Stuart Sheppard, Chair of Trustees, Octopus Giving
About us
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Octopus Giving: what are we all about?
Octopus Giving is our way of helping charities – not just with money, but with something even more valuable, our time, skills and expertise.
What are we here for?
What we do?
We want to use our unique resources – not just money, but the time and enthusiasm of our workforce – to create meaningful change and be a catalyst for further charitable impact for the wider Octopus family.
We support smaller charities that resonate with our people with game changing partnerships both through an annual grant but even more importantly through regular volunteering. We match all fundraising by Octopus colleagues, and the teams that make up our portfolio companies up to £500.
The year that was
£268,753 given to our charity partners and other charities via matched funding and other initiatives
Over 13,300 hours of volunteering
Who do we work with?
Our two big stakeholder groups are the charities we back and our colleagues within Octopus. It’s when we join those two groups together that the magic happens. But it’s also the further change we can have by role modelling in this space, inspiring other businesses we work with and wider parts of the Octopus family to create their own charitable impact.
£24,500 donated at our inaugural Octopus Giving Pitch + Pledge event
£21,615 given in match funding to charities our people care about
About us
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Fields in Trust is our environmental charity partner. They are the only charity in the UK working to protect parks, playgrounds, sport fields and green spaces for good. For almost 100 years they have helped protect close to 3,000 spaces – covering an area larger than the size of Liverpool – right across the UK.
Our first year has been focused on building a solid foundation for the partnership. With a big focus on supporting the team who drive the success of the charity. Sharing our resources to support the team in their campaign deliverables, offering mentoring to grow and support the individuals who make up the Fields in Trust team and sharing our office space: for trustee meetings, potential funder connections and whole team get togethers.
Alongside sharing our resources and skills our people have provided hands-on support to create more biodiversity in our parks across London. While our unrestricted funding has enabled Fields in Trust to continue their vial work protecting green spaces for everyone across the UK.
We are so excited for what the next 2 years with Fields in Trust brings! We cannot wait to get our teeth stuck into larger projects with the charity.
We were thrilled to have been selected by Octopus Group and their staff to be their charity partner. The relationship is providing vital funds to support our work across the UK, protecting parks, playgrounds, playing fields and green spaces and Octopus staff have been out and about helping to deliver change, on the ground, in the places and spaces that people really value through our volunteering days. In addition, we have received support for our staff through the mentoring programme, provision of meeting space and input into our monitoring and impact work, all of which are adding real value. We are really excited about the next two years and would like to thank Octopus Group from everyone at Fields in Trust.”
Helen Griffiths, CEO, Fields in Trust
The Octopus Giving Pitch + Pledge Event
This year we were determined to expand our support of smaller charities to outside of our partnerships. We recognised that charity partnerships may not be suitable for every charity and wanted to expand our offering in way that provided a platform to uplift hose smaller charities and continued our focus on solely donating unrestricted funding. From this our new funding event, Octopus Giving Pitch + Pledge was born! For our inaugural event we invited three innovative and
community-led charities, Art Against Knives, Sister Circle and StandOut to speak on a panel. Each person in the room was given £100 to donate to a charity of their choice. All charities walked out of the room with between £6,450 to £10,850 in donations. We are looking forward to expanding and growing this event in future years!
About us
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Refettorio Felix is our new charity partner supporting overlooked communities, they are a phenomenal charity who supports a community of homeless, older and socially isolated guests experiencing multiple crises and marginalisations through a free 3-course restaurant quality lunch created from surplus food. They also offer multiple wraparound support services, including housing advice, mental health therapies, and specialist targeted support, all of which contribute to restoring and preserving the dignity of their guests, which is at the heart of their work and informs their service provision.
Over the first year of the partnership, Refettorio Felix have introduced our people to their local community in a way that has been deeply meaningful. This has given Octopus people the opportunity to support the delivery of their 3-course lunch service and to connect with each guest who comes through their doors.
Alongside giving their time to Refettorio Felix’s local community, Octopus people have passionately got behind the people powering the charity, sharing their skills and knowledge. We have collaborated to utilise and get creative with all of Octopus’s resources to uplift and enable Refettorio Felix. For example, our people have mentored the individuals who are the driving force of the charity, shared key facilities knowledge and offered planning consultation advice.
The unrestricted funding given to Refettorio Felix in this first year of the partnership has contributed to the continuation of their vital service and given the security needed to explore new offerings and further wraparound support for their guests.
Octopus support could not have come at a better time for us. Meeting members of the Octopus family and seeing their integrity, passion and skill truly shows us what Octopus is, and how they reflect their emblematic animal. Every interaction with Octopus people has been joyful, supportive and kind. Our work involves supporting many individuals with multiple difficult problems and as an organisation we often get overlooked. With Octopus this has been different. The care that guides our service provision has felt reflected back to us, allowing us to do more. The considered, expansive and tailored organisation‑focused support from Octopus has been outstanding and humbling. The fact that is a multi‑year partnership fills us with strength and positivity for the future. We look forward to working even more closely together.”
Louise Streeter, Refettorio Felix
Trustees’ report
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Trustees report
History, objects and activities of the Foundation
The Octopus Foundation is a Charitable Incorporated Organisation constituted on 13 January 2015. The Trustees may apply the trust fund and income thereof to or for the benefit of such charitable institutions or charitable purposes worldwide as they think fit.
All funds are unrestricted, and the Trustees retain sufficient capital for the maintenance of the Foundation.
All Trustees give their time freely and no Trustees remuneration was paid in the year.
Trustee are required to disclose all relevant interests and in accordance with the Foundation’s policy withdraw from decisions where a conflict of interest arises.
Risk management and governance arrangements
The Trustees have considered the major risks to which the Foundation is exposed and have reviewed those risks and established systems and procedures to manage those risks. The major risk identified by the Trustees is the proper use of the grants and elective payments given by the Foundation each year.
The Trustee Board meet regularly and ensure that clear and concise communication is at the heart of everything they do. Every decision is considered carefully, looking at both the risk and the desired outcome. The Board also places a great deal of emphasis on receiving continued feedback from all the charity partners they work with and use this to improve the performance of the Foundation.
Public benefit
The Trustees have referred to the Charity Commission’s guidance on public benefit when reviewing their aims and objectives and planning their future activities. They also ensure the governance is in accordance with the trust deed. The Foundation does not carry out any public fundraising, nevertheless it is mindful of the guidance provided by the Fundraising Regulator.
Achievements and performance of the Foundation
The Trustees are satisfied with the number of grants and the amount of donations awarded. See earlier in this report for our key achievements for the year. The Trustees have not entered any commitments which would affect the financial position of the charity.
Investment policy and performance
The Trustees have power to invest in such assets as it sees fit, in all respects, as if they were absolute owners beneficially entitled to the underlying assets.
Monies requiring investment may be invested in the purchase of such stocks, funds, shares, securities or other investments of whatsoever nature as the Trustees shall in their absolute discretion think fit.
The Trustees shall have the same full and unrestricted powers of investing and converting investments in all other respects as if they were absolutely entitled to the Foundation beneficially.
The Octopus Foundation holds its cash in an interestbearing bank account.
Financial Review
The Foundation is reliant on the income from its contributors. The Foundation income during the year comprised of donations amounting to £329,325 (2024: £288,412).
The Trustees awarded a total of £145,287 in grants and staff fundraising donations to our charity partners Fields in Trust and Refettorio Felix. We are pleased to have made matched giving donations and other smaller charity donations of £123,466.
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2024-25 annual report & accounts Reference and administrative details Reserves review including policy The accounts Charity Name The Octopus Foundation, The Foundation has reserves of £77,993. This The Trustees are satisfied with the financial position of working as Octopus Giving compares to £23,451 the previous year. The current the charity and confirm that they have adequate assets level is considered to be adequate but not excessive. available to fulfil their obligations. Registered Charity No During the financial year, the trustees made a The Foundation assets are shown on the balance sheet 1161273 strategic decision to delay the designation of with investments reflected at their market value. funding, amounting to £57,800. This decision was There have been no material changes to the finances Governing Instrument made in line with our commitment to responsible or the way in which the Foundation has been run stewardship of charitable funds and to ensure that The Octopus Foundation is a Charitable during the year. The accounts comply with current grants are deployed effectively and sustainably. The Incorporated Organisation (CIO) statutory requirements. funding has not been recognised as an expense in constituted on 13 January 2015 this financial year, as the conditions for its release There have been no material changes to the finances had not been met by year-end. The trustees will or the way in which the Foundation has been run Trustees reassess the situation in the next financial year, and during the year. The accounts comply with current Chris Llewellyn the funding will be recognised in the accounts when statutory requirements. Emily Quilter the conditions for its release are satisfied. Simon Rogerson Stuart Sheppard (Chair) Going concern The Board of Trustees is of the opinion that the Principal Office Foundation has adequate resources to continue in 33 Holborn, London EC1N 2HT operational existence for the foreseeable future and there are no material uncertainties regarding the Bankers Foundation ability to do so. HSBC Bank, 31 Holborn EC1N 2HR Independent Examiner Want to talk? Adam Halsey, HaysMac LLP, 10 Queen If you have any questions or would like to find out more, Street Place, London EC4R 1AG please drop us an email at giving@octopusgroup.com . . -
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Trustees’ responsibilities statement
The Trustees are responsible for preparing the Trustees’ Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare Financial Statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these Financial Statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently.
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observe the methods and principles in the charities SORP;
with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent examiner
The Trustees intend to ask the existing examiner to undertake the independent examination of the Trust in the following year.
Signature and declaration
I declare, in my capacity of charity trustee, that:
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the Trustees have approved the report above; and
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have authorised me to sign it on their behalf.
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the Financial Statements; and
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prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the Financial Statements comply
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Signature
Stuart Sheppard Chair of Trustees 19 January 2026 Dated
Independent examiner’s report
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Independent examiner’s report to the trustees of the Octopus Foundation
I report to the Trustees on my examination of the accounts of the Octopus Foundation (the Foundation) for the year ended 30 April 2025.
Responsibilities and basis of report
The trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). The trustees are satisfied that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent examination.
I report in respect of my examination of the Foundation’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Foundation as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signature
Adam Halsey
HaysMac LLP 10 Queen Street Place London EC4R 1AG
19 January 2026 Dated
Financial statements
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Statement of financial activities, incorporating the income and expenditure account, for the year ended 30 April 2025
| Income from: | Notes Totals 2025 (£) |
Totals 2024 (£) |
|---|---|---|
| Donations | 3 313,074 |
277,165 |
| Charitable Activities | 4 16,250 |
11,247 |
| Total Income | 329,324 | 288,412 |
| Expenditure on: | ||
| Charitable Activities (includes donations to charities) | 5 (268,753) |
(280,844) |
| Support Costs | 6 (6,029) |
(5,877) |
| Total Expenditure | (274,782) | (286,721) |
| Other recognised gains/(losses) | ||
| Net gains/losses on investments | – | – |
| Reconciliations of funds | ||
| Total funds brought forward | 23,451 | 21,760 |
| Net movement in funds | 54,542 | 1,691 |
| Total funds carried forward | 77,993 | 23,451 |
All transactions are derived from continuing activities.
All gains and losses recognised in the year are included in the Statement of Financial Activities. The notes here form part of these Financial Statements.
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Balance sheet, as at 30 April 2025
| Current assets | Notes | 2025 (£) | 2024 (£) |
|---|---|---|---|
| Cash at Bank | 7 | 82,547 | 27,591 |
| Current liabilities | |||
| Creditors: amounts falling due within one year | (4,554) | (4,140) | |
| Net current assets | 77,993 | 23,451 | |
| Net assets | 77,993 | 23,451 | |
| Funds | |||
| Unrestricted funds | 77,993 | 23,451 | |
| Designated funds | – | – | |
| 77,993 | 23,451 |
The Financial Statements were approved and authorised for issue by the Board of the Trustees on [Date TBC] and were signed below on its behalf by:
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Stuart Sheppard Chair of Trustees 19 January 2026
The notes here form part of these Financial Statements
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Notes to the Financial Statements for the year ended 30 April 2025
1. General Information
The Octopus Foundation is a Charitable Incorporated Organisation constituted on 13 January 2015. The Octopus Foundation is a registered charity with registration number 1161273. The address of the principal office is 33 Holborn, London, EC1N 2HT.
2. Principal Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
(a) Basis of accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP(FRS102)), the financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The Octopus Foundation meets to definition of a public entity under FRS 102. Assets and liabilities
are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The financial statements are prepared in UK pound sterling, the Charity’s reporting currency, in round pounds.
(b) Going concern
The Board of Trustees is of the opinion that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties regarding the Trust’s ability to do so.
(c) Investments
Investments are stated at their middle-market values ruling at the balance sheet date. Income arising from these investments is accounted for when it is receivable.
(d) Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
(e) Grants
Donations are charged to the Statement of Financial Activities in the year when the donation is confirmed by the trustees
(f) Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for specific purposes.
(g) Cash and cash equivalents
Cash and cash equivalents includes cash and short term highly liquid investments with short term maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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Notes to the Financial Statements for the year ended 30 April 2025 (continued)
(h) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
(i) Estimates and judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the trustee’s best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The trustees do not consider there to be any estimates and judgements.
(j) Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
| 3. | Donations received | 2025 2024 |
|
|---|---|---|---|
| Octopus Investments | 300,000 267,000 |
||
| Other Donations received(less than £1,000per donation) | 13,074 10,165 |
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| 313,074 277,165 |
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| 4. | Income from charitable activities | ||
| Staff Fundraising (other) | 16,250 11,247 |
||
| 16,250 11,247 |
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| 5. | Money paid out to charities | ||
| Current charity partners | (145,287) (168,577) |
||
| Other charities | (123,466) (112,267) |
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| (268,753) (280,844) |
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| 6. | Supporting and Governance Costs | 2025 | 2024 |
|---|---|---|---|
| Independent Examination | 4,968 | 5,010 | |
| Bank charges | 1,061 | 867 | |
| 6,029 | 5,877 | ||
| 7. | Cash and cash equivalents | ||
| HSBC | 82,547 | 27,591 | |
| 82,547 | 27,591 | ||
| 8. | Creditors: amounts falling due within one year | ||
| Accruals | 4,554 | 4,140 | |
| 4,554 | 4,140 |
9. Trustees’ remuneration and expenses
10. Related parties
No remuneration was paid or is payable wither directly or indirectly for the year to any trustee or to any person or persons known to be connected with any of them (2025: £nil). No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the year (2025: £nil)
The Charity has not entered into any related party transactions during the financial year (2025: none), and there are no balances outstanding with any related parties at the Balance sheet date (2025: none).
11. Funds
The Charity did not employee any staff during either financial year. The Trustees are considered to be the Key Management Personnel of the Charity.
All funds held by the charity are unrestricted and consist of cash held at bank less any expenditure liabilities due.
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giving@octopusgroup.com Octopus Giving octopusgroup.com 33 Holborn London EC1N 2HT