THE CITY OF LONDON OCTOBER CLUB
Registered company: 10447776 Registered charity : 1212366
Annual Report and Unaudited Accounts for the year ended 31 October 2025
## The City of London October Club
## Annual Report and Accounts
for the year ended 31 October 2025
|Contents||
|---|---|
|Reference and Administrative Details|1|
|Trustees' report|2-4|
|Independent Examiner's report|5|
|Accounts :||
|- Statement of Financial Activities|6|
|- Balance Sheet|7|
|- Statement of Cash Flows|8|
|- Notes to the financial statements|9-13|
## The City of London October Club
## Annual Report and Accounts
for the year ended 31 October 2025
## **Reference and administrative details**
Company registration number : 10447776 Charity registration number : 1212366
## **Trustee Directors**
Nicholas Crean Nigel Gliksten Michele Hunter Neil Pegrum Adela Pinkster William Tovey Samantha Huggins ( Chair) Gareth Henderson Victoria Sanders
## **Registered Office**
63, Fitzgeorge Avenue London, W14 0SZ
## **Bankers**
National Westminster Bank Plc 69 Baker Street London, W1V 6AT
## **Solicitors**
Bates Wells 10 Queen Street Place London, EC4R 1BE
## **Independent Examiner**
Knox Cropper 65/68 Leadenhall Street London, EC3A 2AD
1
## The City of London October Club
## TRUSTEES' REPORT
for the year ended 31 October 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2025. The Trustees' Report is also a Directors' Report as required by s417 of the Companies Act 2006. In preparing these financial statements, the trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice (effective 1 January 2019) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.
The purpose of this document is to report on the charity's activities during the reporting period in order to meet its legal responsibilities as both a charity and a company limited by guarantee, and to demonstrate how the charity works toward achieving its objectives and aims.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and Aims**
The company was created to raise funds for the benefit of the community and specifically to support charities in funding transformational projects.
## **Significant activities**
The principal activity to support this is the Savoy Fundraising Dinner held in October each year at the Savoy Hotel in London. The supporters of The October Club are drawn principally from the financial and banking sectors of the City of London.
In the year ended 31 October 2025 the company has supported Spark Inside, registered charity 1148420, which helps people in prison rebuild their lives.
## **Public benefit**
The trustees confirm they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
2
## The City of London October Club
## TRUSTEES' REPORT
for the year ended 31 October 2025
## **Achievement and Performance**
## **Charitable activities :**
The company's fundraising in 2025 will enable Spark Inside to expand its operations beyond London. Since 2012, Spark Inside has delivered innovative one-on-one coaching programmes to young people in the criminal justice system, offering a genuine pathway to change and a crime-free future after release. The charity currently runs programmes in 10 London prisons, with demonstrable improvements in participants' wellbeing and decision-making, alongside tangible progress towards education and employment. Following repeated requests to bring its services to other parts of the UK, Spark Inside will use these funds from The October Club to establish infrastructure in the Midlands and launch coaching programmes in three prisons across the region. This expansion will also lay the groundwork for further geographic growth throughout the UK.
## **Fundraising activities:**
The October Club organises several events each year in support of its charity partner. In 2025, it organised drinks on the terrace of the House of Commons, a clay pigeon shooting day, an Ascot race day and a gala dinner at The Savoy in support of Spark Inside. The events were attended by The October Club's sponsors - comprising large financial institutions - and other philanthropically-minded City of London professionals. All support The October Club's mission to foster groundbreaking UK charities and faciliate their transformational growth.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The City of London October Club was converted on the 19th December 2024 from an existing company The October Club CIC, following a special resolution from The October Club CIC to convert itself to a charity and to change its name to The City of London October Club. Charity registration for The City of London October Club was approved at the same time. The assets and liabilities of The October Club CIC were transferred to The City of London October Club on the 19th December 2024.
The directors of The October Club CIC were immediately adopted as trustee directors of The City of London October Club on the 19th December 2024.
The City of London October Club is governed by its Constitution which sets out the charity's objectives, powers and governance structure. The governing body is the Board of Trustees which, as of 31st October 2025, consisted of 9 members.
3
## The City of London October Club
## TRUSTEES' REPORT
for the year ended 31 October 2025
## **FINANCIAL REVIEW & RESERVES POLICY**
The charity finished the financial year with a small surplus of £8,000. This is to allow for some operational leeway in the new financial year. The policy of the trustees has been to donate all surpluses in previous years to its charity of the year. The charity will continue to donate the great majority of its annual surplus to its chosen charity and will hold a small amount back for its operational needs as it deems appropriate.
Samantha Huggins (Chair)
Date
02 July 2026
4
## **Independent Examiners Report to the Members of The City of London October Club for the Year Ended 31 October 2025**
I report to the charity trustees on my examination of the financial statements of The City of London October Club for the year ended 31 October 2025.
## **Responsibilities and basis of report**
As the trustees of The City of London October Club (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the Company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of The City of London October Club are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no 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 as required by section 386 of the 2006 Act ; or
- the accounts do not accord with those records; or
- the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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 ; or
- the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Shoaib Arsha ACA, FCCA Knox Cropper LLP Chartered Accountants 65 Leadenhall Street, London, EC3A 2AD
Date: 02 July 2026
Registered company: 10447776
5
## The City of London October Club
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 October 2025
|Note
**Income**
Donations and Legacies
2
Other trading activites
2
Income from investments
2
Total income and endowments
**Expenditure**
Expenditure on raising funds
3
Expenditure on charitable activites
3
Total expenditure
Net Surplus/(Deficit)
11
Transfer of net assets from The October Club CIC
Net movement in funds
11
Fund balances brought forward at 31 October 2024
Fund balances carried forward at 31 October 2025|Unrestricted
Funds
Restricted
Funds
£
£
929
-
588,112
-
860
-
589,901
-
210,100
-
371,285
-
581,385
-
8,516
-
(515)
8,001
-
-
-
8,001
-|**31-Oct-25**|
|---|---|---|
|||£
929
588,112
860|
|||589,901|
|||210,100
371,285|
|||581,385|
||||
|||8,516|
|||(515)|
|||8,001|
||||
|||-|
||||
|||8,001|
6
## The City of London October Club
## BALANCE SHEET
for the year ended 31 October 2025
|**Current Assets**
Debtors
Cash at Bank
Creditors : amounts falling due within one year
**Net current assets**
Represented by :
**The funds of the charity**
Unrestricted funds
**Total charity funds**|Note
6
7
11||**31-Oct-25**|
|---|---|---|---|
||||33,648
383,490|
||||417,138
(409,137)|
||||8,001|
||||8,001|
||||8,001|
The financial statements have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small companies and the section 1a of the Financial Reporting Standard 102.
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and signed on their behalf by:
Samantha Huggins (Chair)
Date: 02 July 2026 Registered company: 10447776
7
## The City of London October Club
## STATEMENT OF CASH FLOWS
for the year ended 31 October 2025
|Net cash provided by operating activites
Cash flows from investing activites:
Interest income
Net cash provided /(used) by investing activities
Increase(decrease) in cash and cash equivalents in the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period|Note
8|**31-Oct-25**
84,571
860|
|---|---|---|
|||860|
|||85,431|
|||298,059
383,490|
8
## The City of London October Club
## NOTES TO THE ACCOUNTS
for the year ended 31 October 2025
## **1 Accounting policies**
## **Charity information**
The City of London October Club is a charitable company incorporated in England and Wales.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.3 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Accrued income is recognised where it is probable that entitlement exists, subject to any conditions of receipt.
## **1.4 Resources expended**
Expenditure is accounted for on an accruals basis and allocated to the appropriate heading in the accounts. Expenditure on raising funds includes the costs incurred in generating donation and legacy income and fundraising income. These costs are regarded as necessary to generate funds that are needed to finance charitable activites.
Charitable activities expenditure enables the charity to meet its charitable aims and objectives.
Support costs are those costs which enable fund generating and charitable activites to be undertaken.
9
## The City of London October Club
## NOTES TO THE ACCOUNTS
for the year ended 31 October 2025
## **1.5 Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.6 Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.7 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 estiamted reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **1.8 Going Concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
The Trustees have considered the likely future cash flows of the charity and have considered the balance sheet facilities available at this point in time.
The Trustees consider that the charity has sufficient cash to continue for the coming months, and is therefore considered to be of going concern. The financial statements have been prepared on aa going concern basis.
10
## The City of London October Club
## NOTES TO THE ACCOUNTS
for the year ended 31 October 2025
## **2. Income**
|Individual donations
**Total donation and legacy income**
Sponsorship
Ticket sales
Live and silent auctions
Raffle and games
**Total Other Trading/Fundraising income**
Interest receivable on deposit bank accounts
**Total income from investments**|**31-Oct-25**
£
929|
|---|---|
||929|
||496,334
77,969
4,809
9,000|
||588,112|
||860|
||860|
During the year The City of London October Club raised money for its charity of the year, Spark Inside. A large part of the fundraised income is paid direct to the charity and not The City of London October Club. During the year , £492,396 was paid directly to Spark inside ( registered charity 1148420).
## **3. Expenditure**
|Direct fundraising costs
Support costs
**Expenditure on raising funds**
Direct grant payment to beneficiary
Support costs
**Expenditure on charitable expenditure**
**Total expenditure**|**31-Oct-25**
£
192,040
18,060|
|---|---|
||210,100|
||317,104
54,181|
||371,285|
|||
||581,385|
11
## The City of London October Club
## NOTES TO THE ACCOUNTS
for the year ended 31 October 2025
## **4. Support costs**
|**4. Support costs**||
|---|---|
|Accounting and independent examination costs
Consultancy costs
Head of operations & committee costs
Website and office costs
Total Support costs|**31-Oct-25**
£
9,100
32,521
23,747
6,888|
||72,256|
## **5. Staff costs, Trustee remuneraiton and expenses, and the cost of key management personnel**
The charity employs no staff directly but subcontracts operations and consultancy to subcontractors.
The leadership team comprises the trustee directors of the charity and the head of operations. During the year no remuneration was paid to trustees , nor were any expenses claimed. The head of operations received total remuneration of £22,500 during the year.
During the year no employee received remuneration greater than £60,000 in the year.
## **6. Debtors and prepayments**
|Accrued income
Prepayments
Debtors: amounts falling due within one year
**7. Creditors: amounts falling due within one year**
Accrued expenditure
Provision for contingencies
Amount donated to charity of the year beneficiary
Creditors : amounts falling due within one year|**31-Oct-25**
£
25,450
8,198|
|---|---|
||33,648|
||**31-Oct-25**
£
51,712
40,321
317,104|
||409,137|
12
## The City of London October Club
## NOTES TO THE ACCOUNTS
for the year ended 31 October 2025
## **8. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net movement in funds
Deduct investment income
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash used in operating activities|**31-Oct-25**
£
8,001
(860)
353
77,077|
|---|---|
||84,571|
## **9. Company structure and control**
The charity company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
The company is under the control of its members.
## **10. Related party transactions**
The company paid for a promotional film costing £6,939 to a film production company under the control of one of The City of London October Club's trustee directors, Nicholas Crean. Another payment was also made to Nicholas Crean's company for the supply of an auction prize costing £2,100.
## **11. Reserves**
The charity came into existence on 19th December 2024 following a special resolution in the articles of the company which were approved by the Charity Commission. The reserves of the company at the start of the financial year had been zero.
The company at the date of incorporation as a charity on 19th December had made a small deficit of £515, which was transferred to the charity accounts. The charity finished the financial year , 31 Oct 2025, with a small overall surplus of £8,001.
|Opening Balance 1.11.24
Surplus of Income over Expenditure
Transfer of deficit to charity 19.12.24
Closing Balance 31.10.25|2025
£
£
-
8,516
(515)
8,001|2024|
|---|---|---|
|||-
-
-|
|||-|
13