2021-03-31-accounts

Registered number: 01851320 Charity number: 290349

THE FRIENDS OF OCTAVIA (A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

CONTENTS

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Page
Reference and administrative details of the Company, its Trustees and advisers 1
Chair's statement 2
Trustees' report 3 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 1 0 - 1 1
Notes to the financial statements 1 2 - 1 9
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THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

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Trustees Miss Bridget Clarke, Chair
Mr Martin Courtenay Clarke, Honorary Treasurer
Mrs Caroline Rosemary Bailey
Mrs Vivienne Simpson
Mrs Madeleine Ginsburg (resigned 14 July 2020)
Mr David James Dunbar
Mrs Glen Bor
Company registered
number 01851320
Charity registered
number 290349
Registered office 7 Middle Field
St Johns Wood Park
London
NW86ND
Company secretary Mr Martin Courtenay Clarke
Chief executive officer Miss Bridget Clarke
Independent Examiner MHA MacIntyre Hudson
Rutland House
148 Edmund Street
Birmingham
B32FD
Bankers CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Solicitors Gordon Dadds
6 Agar Street
London
WC2NAHN
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Page 1

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

CHAIR'S ST A TEMENT FOR THE YEAR ENDED 31 MARCH 2021

The chairman presents her statement for the year.

The Friends gave grants of £28,054 (2020: £35,249) in the year ended 31 March 2021, of which £23,186 (2020: £28,294) was on amenities, £1,716 (2020: £1,111) on education grants for tenants of Octavia Housing, and £3,152 (2020: £5,844) on community grants. Governance expense was £3,813 (2020: £3,912) and investment management fees cost £9,882 (2020: £9,424). Total expenditure was £41,749 (2020: £48,585)

Income to meet this expenditure was £63,245 (2020: £47,467) of which investment income and donations was £37,875 (2020. £34,678), rental income from the Adventure Playground in St Johns Wood of £9,820 (2020. £9,562), and legacies of £15,550 (2020: NI)

The Friends were very touched to receive two generous legacies from Roland Richards and Hugh Sassoon.

Roland Richards (1934 - 2020) was a long term (67 years) Octavia Housing tenant, He led a reclusive life after retirement and, because he died at the time of the corona virus lockdown, it was difficult to organise his funeral, but our Treasurer managed to arrange one at the West London Crematorium. Although only he and the priest were allowed to attend, an appropriate service took place. His estate was shared between SSAFA, the forces' charity, and the Friends of Octavia, to help vulnerable tenants.

Hugh Sassoon and his wife were closely connected with the St Marylebone Housing Society (now part of Octavia Housing) for many years. He left his legacy to The Friends of Octavia to help vulnerable tenants.

Our total net assets were £1,686,557 (2020: £1,422,921).

The COVID-19 pandemic disrupted the charity but not so much as had been feared. Income from investments and rent held up well but the difficulties in administration of the grant approval process resulted in fewer grants being paid to beneficiaries. We expect grant payments to return to previous levels when restrictions are lifted.

We should like to thank Octavia Foundation and the members of their staff for their help and cooperation in administering the grants we give to their tenants. At their invitation David Dunbar now attends the Octavia Foundation meetings. The Annual General Meeting will take place on 28 October 2021 at 2.15 at 7 Middle Field, St John's Wood, London NW8 6ND.

Bridget Clarke

Chair Date 4 November 2021:

Page2

(A company limited by guarantee)

THE FRIENDS OF OCT A VIA

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report and the financial statements of the Company for the year ended 31 March 2021.

The Friends of Octavia is classed as a small charitable company as it meets all three of the following criteria:

• Gross income not exceeding £10.2m

• Total assets not exceeding £5.6m

• Employs no more than 50 staff

The Trustees have chosen to adopt the provisions of the Charities SORP (FRS 102) -- 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 in preparing the annual report and financial statements of the Charity. The accounts have been prepared in accordance with the Companies Act 2006.

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Company is limited by guarantee; each member has undertaken to contribute, if necessary, up to a maximum of £1 on winding up. The Company was incorporated on 27 September 1984. The Company is registered as a charity with the Charity Commission, for which purpose the registration number is 290349. The Company was established under a Memorandum of Association which established the objects and powers of the charitable Company and is governed under its Articles of Association.

The Company is run by means of Trustees' meetings (Council) which take place at regular intervals during the year.

The Trustees who have served during the year were as follows:

Miss Bridget Clarke (Chair) Mr Martin Courtenay Clarke (Hon. Treasurer) Mrs Caroline Rosemary Bailey Mrs Vivienne Simpson Mrs Madeleine Ginsburg (resigned 14 July 2020) Mr David James Dunbar Mrs Glen Bor

Page3

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES

• Charitable Objects

The objects of the charity ("the objects") are:

• 1) to assist the Octavia Foundation so long as its objects remain charitable and thereafter to assist any other charity or charities in such manner and to such extent as the Council shall determine, including:

• a. improving the conditions of living of the beneficiaries who are poor, aged or disabled persons in the City of Westminster and elsewhere:

• b. providing the beneficiaries with f d, fuel, furniture and other items, amenities or other services of whatsoever nature to improve the beneficiaries' conditions of life;

• c. organising holidays outings and excursions; and

• d. obtaining, collecting and receiving money and funds by way of contribution, donations, legacies and grants;

• 2) to cooperate with any charitable, national or international bodies whose objects are similar to the objects of the Company

• Aims

The charity aims to have a demonstrable impact on charitable causes falling within its objects which are particularly in need of funds, but which may have difficulty, for whatever reason, garnering popular support or the support of other trusts or institutional funders.

• Objectives

The Charity's key objectives for the year were to continue to maximise income and to continue to support the Octavia Foundation.

• Activities

The Charity continued to make welfare and educational grants to tenants of Octavia Housing.

• Public benefit

The Council confirms that it has complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'.

The Charity's public benefit is enshrined in its charitable objects as outlined above.

The Council has the right not to disclose why a particular application may have been approved or rejected, so as not to impugn its discretion, but it will not discriminate on the grounds of any characteristic protected by the Equality Act or any other relevant legislation.

Page 4

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

ACHIEVEMENTS AND PERFORMANCE

• Performance against strategy

The charity was able to maximise its available resources during the year whilst delivering effective and meaningful grants. The Trustees were satisfied with the Charity's performance.

• Investment performance

The charity's investment portfolio is managed by Brewin Dolphin. The portfolio value increased by 18.8% net of fees, in line with appropriate benchmarks.

• Review of activities

The Trustees are aware of their responsibility to balance the needs of both current and future beneficiaries. The Trustees are pleased with the outcome of the activities undertaken throughout the year.

• Grant-making policies

The Charity uses the services of Octavia Foundation and Octavia Housing and Care to identify tenants who are in need of essential items of furnishings and white goods or who would benefit from grants to assist in their education and training.

• Strategy

The strategy for the year was to find opportunities to make grants to tenants of Octavia Housing for welfare and educational purposes.

FINANCIAL REVIEW

• Investment powers and policy

The Council's investment policy is to retain a degree of safety in the investment strategy while looking for a higher rate of investment return than being income dependent. No additional social or ethical considerations are taken into account as part of the investment policy, as the governing document of the charity does not mandate consideration of such matters.

The fund is managed on a discretionary basis on a medium risk profile. It has a balanced mandate meaning the fund is managed for a combination of income and capital growth.

Page 5

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

• Risk management

The Council regularly review the Risk Register, which details the present status of those operational risks which might diminish the charity's effectiveness, and the measures in place to mitigate them.

The potential for grant fraud is acknowledged as being a risk to which the charity, and charities like it, may be subject, and it is felt that the extensive due diligence carried out on grant applications by Octavia Foundation staff militate against it as strongly as the charity's resources will allow. A proportion of beneficiaries receive a visit from Octavia Housing's Housing Officers at some point in the grant cycle. Personal contact is established with each beneficiary.

The other major risk to which the charity is exposed is the value of, and yield from, its investments. Investments are monitored closely, with regular scrutiny of the investment manager's performance.

• Financial reserves policy

The Council does not feel that it is exposed to operational risks of the sort that would require or be ameliorated by emergency expenditure. The Company maintains a level of reserves sufficient to enable its activities to be continued on a similar basis to that of previous years.

The Council

The number of Council members shall be not less than 4. The Council considers that at its present level of activity the Charity has an appropriate number of Council members with the requisite skills. The Council may from time to time and at any time appoint any member of the company to the Council.

• A review of the financial position at the end of the reporting period

The Unrestricted fund stood at £1,686,557 at year-end (2020: £1,422,921).

The key sources of income were derived from investments of £37,849 (2020. £37,526) and rental income of £9,820 (2020: £9,820).This year two legacies were also received amounting to £15,550.

Further details of finance are in the Chair's report.

Page 6

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company for the purposes of company law) 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).

Company law requires the Trustees to prepare financial statements for each financial year. 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 affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Miss Bridget Clarke (Chair of Trustees) 4 November 2021

Mr Martin Courtenay Clarke Treasurer

Page 7

THE FRIENDS OF OCTA VIA

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021

Independent examiner's report to the Trustees of The Friends of Octavia ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the Trustees of the Company (and 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').

Having satisfied myself that the accounts of the Company 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 Company's 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

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:

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. 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

4. 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).

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.

This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports} Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.

Signed:

Dated: 22 November 2021

Helen Blundell LLB FCA FCIE DChA

MHA MacIntyre Hudson

Rutland House 148 Edmund Street Birmingham B32FD

Page 8

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

ST A TEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

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Unrestricted Total Total
funds funds funds
2021 2021 2020
Note £ £ £
Income from:
Donations and legacies 3 15,576 15,576 121
Other trading activities:
9,820 9,820 9,820
Adventure playground (rent)
Other trading activities
Investments 4 37,849 37,849 37,526
63,245 63,245 47,467
Total income
Expenditure on:
Raising funds:
9,882 9,882 9,424
Investment management fees
Charitable activities 5 31,867 31,867 39,161
41,749 41,749 48,585
Total expenditure
Net income/(expenditure) before net gains/(losses)
on investments 21,496 21,496 {1 ,118)
242,140 242,140 (101,829)
Net gains/(losses) on investments
263,636 263,636 (102,947)
Net movement in funds
Reconciliation of funds:
1,422,921 1,422,921 1,525,868
Total funds brought forward
Net movement in funds 263,636 263,636 (102,947)
1,686,557 1,686,557 1,422,921
Total funds carried forward
The Statement of financial activities includes a gains and losses recognised in the year.
The notes on pages 12 to 19 form part of these financial statements.
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Page 9

THE FRIENDS OF OCTAVIA (A company limited by guarantee) REGISTERED NUMBER: 01851320

BALANCE SHEET AS AT 31 MARCH 2021

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2021 2020
Note £ £
Fixed assets
Investments 7 1,459,957 1,228,834
Investment property 6 77,593 77,593
1,537,550 1,306,427
Current assets
Debtors 8 892
Investments 9 38,256 38,133
Cash at bank and in hand 134,937 89,216
173,193 128,241
Creditors: amounts falling due within one
year 10 (24,186) (11,747)
Net current assets 149,007 116,494
Total net assets 1,686,557 1,422,921
Charity funds
Unrestricted funds 1,686,557 1,422,921
Total funds 1,686,557 1,422,921
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Page 10

THE FRIENDS OF OCTAVIA (A company limited by guarantee) REGISTERED NUMBER: 01851320

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2021

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Miss Bridget Clarke Mr Martin Courtenay Clarke Chair Treasurer

Chair Date: 4 November 2021

The notes on pages 12 to 19 form part of these financial statements.

Page 1 1

THE FRIENDS OF OCT A VIA

(A company limited by guarantee)

NOTES TO THE FINANCIAL ST A TEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. General information

The Friends of Octavia is a Company limited by guarantee and is registered with the Charity Commission (Charity Registered Number 290349) and Registrar of Companies (Company Registration Number 1851320) in England and Wales. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The address of the registered office is 7 Middle Field, St Johns Wood Park, London, NW8 6ND. Friends of Octavia provides support to the Octavia Foundation.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102)­ 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Friends of Octavia meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Directors in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Page 12

THE FRIENDS OF OCTAVIA (A company limited by guarantee)

NOTES TO THE FINANCIAL ST A TEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.3 Income

A income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.

For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.

Income from trading activities includes income earned from renting out properties to raise funds for the Charity.

Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest which are recognised when the Charity's right to receive payment is established. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the Charity's right to receive payment is established.

Page 13

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

NOTES TO THE FINANCIAL ST A TEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Charitable activities consist of grants to tenants of Octavia Housing for welfare and educational purposes, and other charitable donations.

Grants payable to third parties are within the charitable objectives. When unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants.

A expenditure is inclusive of irrecoverable VAT.

2.5 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value with changes recognised in 'Net gains/(losses) on investments' in the Statement of Financial Activities as they arise. The Statement of Financial Activities includes the net gains and losses arises on revaluations and disposals throughout the year.

The company does not acquire or hold put options, derivates or other complex financial instruments.

2.6 Debtors and creditors receivable / payable within one year

Debtors are recognised when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Creditors are recognised when the Charity has a legal or constructive obligation resulting from a past event and the settlement is expected to result in an outflow of economic benefits.

2. 7 Financial instruments

The Charity does not have a material holding in complex financial instruments and only holds basic Financial Instruments. The financial asset and financial liabilities of the Charity are as follows:

Debtors -- trade and other debtors (including accrued income) are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 8.

Cash at bank -- is classified as a basic financial instrument and measured at face value.

Liabilities -- accruals and other creditors will be classified as financial instruments, and are measured at amortised cost as detailed in Note 10.

Page 14

(A company limited by guarantee)

THE FRIENDS OF OCTAVIA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.8 Taxation

The Charity is an exempt Charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it is able to take advantage of applicable Charity tax exemptions for UK corporation tax purposes.

2.9 Going concern

The financial statements have been prepared on a going concern basis as the Directors believe that no material uncertainties exist. The Directors have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern.

3. Income from donations

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Unrestricted Total Total
funds funds funds
2021 2021 2020
£ £ £
Donations 26 26 121
Legacies 15,550 15,550
15,576 15,576 121
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4. Investment Income

----- Start of picture text -----
Unrestricted Total Total
funds funds funds
2021 2021 2020
£ £ £
Deposit and other interest receivable 42 42 126
Dividends receivable 37,807 37,807 37,400
37,849 37,849 37,526
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Page 15

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

NOTES TO THE FINANCIAL ST A TEMENTS FOR THE YEAR ENDED 31 MARCH 2021

5. Analysis of expenditure by activities

----- Start of picture text -----
Grant
funding of Support Total
activities costs funds
2021 2021 2021
£ £ £
Education and training grants 1,716 1,716
Octavia tenants grants 26,338 26,338
Support costs 3,813 3,813
Total 2021 28,054 3,813 31,867
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There are no employees and therefore no one earns in excess of £60,000.

----- Start of picture text -----
Grant
funding of Support Total
activities costs funds
2020 2020 2020
£ £ £
Education and training grants 1,111 1 , 1 1 1
Octavia tenants grants 34,138 34,138
Support costs 3,912 3,912
Total 2020 35,249 3,912 39,161
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Page 16

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

5. Analysis of expenditure by activities (continued)

Analysis of support costs

----- Start of picture text -----
Total Total
funds funds
2021 2020
£ £
Professional fees 13 13
Independent examiners remuneration 2,696 2,750
Bank charges 69 60
Trustees' indemnity insurance 1,035 1,089
3,813 3,912
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6. Investment Property

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Freehold
investment
property
£
Valuation
At 1 April 2020 77,593
At 31 March 2021 77,593
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The figure of £77,593 represents the cost of acquiring one half share in land on the southeast side of St. Johns Wood Terrace, which forms the site of the Adventure Playground, together with associated legal costs. The Funds required to acquire the remaining one half share of the site have been put up by the St. John's Wood Terrace Adventure Playground Association. Under the arrangements agreed between the two parties the charity now holds the whole legal interest in the land and has entered into a Declaration of Trust with the Trustees of St. Johns Wood Terrace Adventure Playground Association under which one half share is held on their behalf. The directors consider that the cost value of this land is a reasonable reflection of its existing use value while the above arrangements remain in being.

Page 17

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

7. Fixed Asset Investments

----- Start of picture text -----
Listed
investments
£
Valuation
At 1 April 2020 1,228,834
Additions 308,398
Disposals (302,220)
Revaluations 224,945
At 31 March 2021
1,459,957
----- End of picture text -----

If fixed asset investments had not been included at valuation they would have been included under the historical cost convention at £1,283,337 (2020. £1,274,789).

8. Debtors

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Due within one year
Accrued dividend income
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----- Start of picture text -----
2021 2020
£ £
892
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9. Current asset investments

----- Start of picture text -----
Dealing account
----- End of picture text -----

----- Start of picture text -----
2021 2020
£ £
38,256 38,133
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Page 18

THE FRIENDS OF OCTAVIA

(A company limited by guarantee)

NOTES TO THE FINANCIAL ST A TEMENTS FOR THE YEAR ENDED 31 MARCH 2021

10. Creditors: Amounts falling due within one year

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2021 2020
£ £
Other creditors 1,583 548
Accruals 2,876 2,750
Grant commitments 19,727 8,449
24,186 11,747
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11. Related party transactions

There were no related party transactions during the year (2020 - £Nil)

During the year, no directors received any remuneration (2020 - £NI) or reimbursement of expenses (2020- £NI).

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