researcli ,Iiid Lfftioii'ledoe ir ill
lieart 0> dt". elkipniei;
Cr)mpany number. 04919576
Charity Numbef.. 11C6349
International
Network for
Advancing Science
Policy Ltd
Report andfinancial statementsfor the
year ended 31 December 2025
•AFIXSklEII*
12105r2￿26
OMPANIES H(KISE
#72

Contents
Refe¥ence and administrative inlormalion.
Trustees ￿ptsrt_...-..................................................................................................................................
Independent auditor's report....--...
17
Statement ol iinan¢iaJ activitiès lincorporatin9 income and expendrture accounti...
8alancesheet...................
--20
21
statement of cash flows..................................................
-22
Notes lo the financial statemenls .. ..........-.... -..-
.23

Refei'ence and administrative information
Company name:"
Inlernational Nelworkfor Advancing Science and Policy Ltd IINASPI
04919576
Company number
Charity number
Registerèd office and
operational address
1106349
The Ohl MUS￿ Hall. l￿-108 Cowley Road. Oxford. OX4 1JE
Trustees
Trustees. who are also directois under company law. who served
during the year and up to the date of this report were as follows..
. Lovise Shaxson (resigned 26 January 20261
Judy Ornumbo
Eleanor Sarpong
Mayyada Abu Jaber
Sirnon Kay
Cody Moolman {appoFnted April 20251
Key management staff
Bankers
Jonathan Harte. Executrve Oirector
National Westminster Bank
.43 Coinmarkel St
Oxford
OXI 3HA
Auditor
Wenn Townsend
Chartered Accountants
30 St Giles
Oxford
OX1 3LE

Trustees Report
The Trustees present their report and the audited Iinancial statements for the year ended 31 Decembef 2025.
The reference and administsative infom)ation set out on page 1 fomis part of thi5 report. The financial
slatements comply wrth cuirent statutory requirements. the memorandum anol arlic5e5 of association and the
Stalernent of Recommended Piactice - Accounting and Reporting by Charities. SORP applicable lo Ghaiities
preparing their accounts sn ac￿￿an￿ wifh FRS 102.
Vision, values, impact, approach
Vision <ind mission
Our vision is 'research and knowledge at thè heart of devefopment" and OLEr missgon is to support individuals
and institutions to produce. share and use research and knowFedge. which can translorm lives.
Valiies
We are a values4lriven organisalion. Our values reflect our CLYnmitmenl to equity, respecting others. acting
wrth integrity. openness and transparency and prO¥￿e a tens lai our v￿rk. both inside and oUtS￿e of the
organisation..
In it tO9ether-. We collaborate whlh our partners and those we serve lo undersland Whe￿ we are
needed. and the expertise Ihal each party brings lo the table. We eo-design and co-develop solutions
as teams We speak up when needed and are equalty open to being challenged by others. Together.
we leèrn and evofve.
Making change last: Lasting change is our goal. Wè aim for a destination where we are no longer
needed, and ViOFk hand in hand with OUT partners to yet there. We are bold and try new ideas as an
integral part of learnmg what works.
Every voice counts.. Everyone ha5 a contribution to fflake and is listened to with deepest atlenlion.
We embrace drfIe￿￿¢ÈS and believe that diversty makes our understanding of the worfd more robust.
We recognise the innate worth of arj people and aclively seek to address issues of power and equity
within (￿r work.
Oorng thrngs right= We we proud ol what we do arKI uphokl the highest standafds of personal and
professional honesty and behaviour. We are lair. and open in our decision making and hold ourselves
8ccountable lo delivering the besf wort.
Intended impact
We believe thal research and kn¢)wledge are crrtical in addressing gk)bal challenges and 3chiewTrg the
Sustainable Development Goals. Reseafch and higher education institutions have a centr81 role lo play as
knowledge producers. and as educators of the next geneialion of professionals, entrepreneurs and policy
makers. Over the last 34 years we have worked wifh partners across Afrrca, Latin America and Asia lo support
the careers ol educalors and researchers and lo facilitate change in research and higher education systèms.
In recent years we have bullt a repulalion for relevant. high quality. digital learning prograrnmes that are
designed with and for learner5 and professionals in the Global South. We work to achieve impact in three
outcome areas".
1. Youth can secure meaningful and dwJnif*ed work
2. Critical knowledge is created with and lor policy. practice and communilie5
Women educalors and researchers are leading change
AppL"oacli
We work lo deSNeT impact in four ways..
Supporting researchers to create relevant and r￿OroUS knowledge.
Supporting educators to creale powerful ￿¥Ming experience5.

Working with universities. TVET instrtulions and research tnstrtulions to Cfeate an enablin9 institutional
ecosystem in which early career academics and educatois- women and men - fhrTVe.
Sharing what we learn with others in our sector and assisting them lo ￿arn from their own work.
We are a facililalor and a catslysl. We assist our partners lo I￿￿k ab.out how to tackle their chaltenges.
onceive of new strategies. and design practical prograrnme5 thal enable them lo make concrete
improveménts. At the heart of our work Is our ￿"Sing Scholars platform. a learning community lor and (Jriven
by researchers from the majority w(xkl, ailo¥n"ng them to share theiF own expertise and le3rn from theiT
peers. Our core exp&rtise is fourfokl_"
We work in partnershrp with universities and Technical and Vocational Educab'on and Training ITVETI
institutions lo conceplualise and facilitate change programmes lo improve teaching and learning and
to sliengthen research.
We design and implement high quality dwJital and blended leaming programmes lo enabk individual
researchers ancl educators lo strengthen Iherr skills.
.INe curate and laalitale digrtal communrties to enab￿ peer5 to connect. Feam ar￿ share knowledge
across countries, continents. sectors and (Jis¢iplines.
We create gender-responsive leaming programmes Ihat meet the need5 of women researchers and
educators and which create more inclusive research and learning environments for all.
. We focus specifically on institutK)ns and individuals with lewer opportunrttes. aiming to ensure that acaYemic5,
researchers and students in secondary towns and njral areas have access lo hig￿ qualrty learning
opporlunities, alongssde their peer5 in beller-resourced Institutions in capital cities. Our appioaGh emph5515es
long term capacily development through equitable partnefships and continuou5 learning and adapting to
change.
We deliver our work Ihrou9h a combined leam of siaff and Assoctates. based in 12 countries. and in
partnership wth universtties, tertiary educatton instilutions. fesearch institutions. national s¢ien¢e agencies
and other partners acFOSS the wortd. OLir partnerships. and our Associates based in the COLtnlries in which we
deliver our work, ensure that we develop and deliver work that is r¢x)led in local contexts.
PLibIic benetit
In identifying and carrying Qut the aims. the Truslees have had regard to their duty In Section 4 of the 2011
Charities Act relating to guidance on public benefrt. As described in the following paragraphs. all our activities
are carried out for the public bènefit of peoplè in developing and emerging countries.
The Trustees have referred to the Charity Commission's geneTal guidance on publ￿ benefit when reviewing
the charity's aim5 and objectives and in planning its future adivities. In particular. the Trustees consider how
planned activities will contribute to the aims and objectives Ihat have been set_
Pi"ogramme summary
In 2025 we had 11 funding partner5. an¢J delivered 12 projed5, from large multryear collaboralk)ns to targeted
consultancy assi9nments_
F.under
I Project
Brief description
|.Loc3tions and partners
Principal projects and programmes
Swedish
Infernalional
Development
Cooperation
i Agency (Sidal
l Rising Scholars- A Eafty career researchers
digital learning and I worldwide are motivated lo
5 knowledge
addres5 pressin9 societal
ommunity12024- 1 challenges bul often lack acce55
1 20281
to the skills. confidencè. and
supporf needed to design. deliver,
and communicate effective
research. Through Rising
Scholais. INASP provides
targeleif capacity development
8nd peer support Ihal enables
', fesearchers to produce and share I
Global- supporting
i researchers in 128
countr￿5 across Alnca.
l Asia and Latin America.

| knowledge that contnTr&utes to
pubh"c benefLI, inforrning policy.
I practice, and sustainable
I developmeni at national and
I global levels.
Norwegian
Agency for
Devek)pmenl
Cooperation
I (Noiadl
l Eqtsipping earty l The NORHED piogramff
Africa- researchers at
I caoer Afri¢An
supports h￿her edLKalh)n and
NORHED universities and
searcheis lo
fesearch institut￿nS across 18
inslitutiorbs in CamefOOn.
I succeed - A
African countrie5. In partnership
partnership to
with Norad. INASP deltvers a
| Ethiopia, OR Congo.
i Ghana, Kenya. Malawi.
stiengthen
digital learning programme
l Mali. Mozambique. Niger.
research cap¥rties '. xxessibk to researchers across l NwJeria. Rwanda, Sudan.
,' at NORHED
NORHED institutions.
j South Africa, South
strengthenbng iesearch skills and I Sudan, Tarizankq.
Pfactice. In additron, INASP works i Uganda. Zambia,
wth three universrty partners to
', zimbabwe
provicje more inlÈnswe support to
j research staff and studenls and to
I co4evelop hybrid professional
development progr8mmes for
l èaty career researchers,
I contributing to stronger
In51ilubonal research capacity and I
' public benefit.
i universitie5 in
| Africa12024-20271
". PartneTS.' Jirnma
Unwersity. Elhiopia..
j Mekelle University.
j EthB)pia', University of
Dodoma. Tanzania.
UK Foreign,
I strengthening
Publicly fvnded research often
Commonwealth
Science Diplomacy I remains inaccessible due to
and Development l and Official
paywalls and high publishing
01r￿e IFCDOI
Development
costs. limiting the participation of
Asstslance Policy
searchers an(J ewdenGe users in
I lor Research
source-poor instrtutions. INASP
I Publishing
contributes to public benefit by
Reforrn {2024-
building an evKlence base to
20261
j (nfoim research publishing refom)
and science diplomacy. inclLtding
, anatysis of funder open access
I pOI￿leS. reseafch on barriers
,, faced by African evwjence user5.
.. and ieviews of Afr￿an research
publishing plail<xms an(klinancing
i models. supporting mofe equitabje .,
4 access to knowledge and
evidence-informed
decision-making.
l Global. with a particular
focus on Africa.
I Partners. Science for
l Africa Foundation. Kenya".
African Population and
Health Research Cenlre,
Kenya.
Templelon World Dogilal Hub for
.' Across East Africa, communities
l Kenya. Rwanda,
Charity
i Open Research in . j 3re grapp15ng with complex
| Tanzania. Uyanda
Foundation
East Africa12024- i challen9e5. By establishing a
120261
I digilal hub for open Tesearch In
i Partners.. Garissa
East Africa we are harnessing the i University. Kenya", Nelson
i Iransformalive possibilities ol open
Mandela In5trtutE for
I science to enable tslentelj young
Science and Technology,
j Easl African researchers to bring ! Tanzania.. Africa Rural
new knowledge. fresh thinking and i University. Uganda.
passion to change lives and
liveliho(*Ys to bear on scffle of the |
I most C￿t￿81 queslions l¥ing.their i

j nalions and commvnrties. and to
' deliver real impact
Yaba College of
Technology
(UNICEF I FCDOI
Girls Educatbon
and Skills
Partnership12024-
2025)
'. The prqect increases access to
I NHJeria
I skills and econom￿ opportunrtles I
for adolescent g￿15 and youn9
I Partner. Yaba College of
| women in Nigeria's ICT settor,
T￿hnologY. Lagos
supporting irnproved
employability. entrepreneurship,
and progressÈon into employment
| or further education. INASP
I COlltribute5 to this public benefil by |
' strengthening the capacrty of
Yaba College of Technology
! educators and local Industry
I partner5 in gender-iesptsn5ive
I pedagogy, enabling them to
creale more inclu5Ne learning
environments and improve
learrbing oulcomes for women and
Smaller projects and consultanci•s
I UK National
Training for Ihe
Institute of Health
NIHR Global
l Health A¢ademy
and.Social Care
Research INIHRI |12024-2026}
I INASP is pioviding training in
I iesearch writ¢ng and grant
I proposal writing to NIHR funded
I researchers from the Global
Researchers based
j across Africa and Asia
Association of
Commonwealth
l Universities l UK
Department
l Environment.
Food and Rural
Affairs
Ocean Country
CrTrdeveloped by INASP and the ' Afr￿a. Ghana.
Partnership
l Association of Commonwealth
Mozambique. Senegal.
Training
Universities. this bespoke online
rogramme {2024. training programme supports the
South Asia.. Bangladesh,
20251
I professK)nal developmenl of
| India. Maldives. Sri Lanka
i Ocean Country Partnership
.' Programme scholars_ It equips
Pacific.. Solomon Islands.
I Vanual
early carew researchers with skills I
in policy engagement. community ', Americas Beliie
l engagement and gfant wrrting.
l enabl¥ng fhem to apply thelr
j research more effecbvely to inf¢m
poIKy. engage communities and
I contribute to real-workl irnpact.
Inrernalional
Growth and
i The Growth and Ecor￿)￿
Elhiopia, Kenya. Rwancta,
i Development
Economic
'. Opportunitbès for Women IGrOWi j Tanzania. uganda
Research Centre l Opportunities for
East Africa initiative sUPPOrts
IIORCI with Bill & ;. Women IGrOW)
I research that advances gender
Melinda Gates
i East Africa12022- ' eqLEality in the wotld of work.
i Foundation and
I the William and
20251
including on labour markel
j wregation. gender gaps in
i Flora Hewlelt
i employment and unpaid cafe
Foundation
i Wotk. INASP Contributed to this
public benefil by providing Iraining
i lo 12 research teams to
slrenglhen their policy
engagement strategies and by
I facilitating cross-project learning,
supporting the use of research to.

' infoim policy and praclu across
Ihe region.
IntergoveTnmenlal l Technical suppcfft
! Despble Sr9nif￿anI investment in
Authority on
to the High-Level
j African agricultural knowledge
Development
Leainin9 Event of '. systems. research evidence is not
IIGADI / World
I the Food Systems I consistently inlorming F)oli¢y and
Bank
"l Resilience
proyramming. INASP contributed
Programme
I lo public benefil by providrng
j Partners.
IFSRPI in Ea51 and expert leaming facilitation for the
Intergovernmental
I Southern Africa.
I fsrst highJevel learning evÈnl of
Authority on
held In March in
I the Food Systems Resilience
i Development, Worfd
Addis Ababa.
I Programme, held al the African
l Bank, Centie for
Elhiopk?120251
l Union Commission in Addi5
I Coordination ol
l Ababa. supporting stronger use of ! Agricultural Research anol
l evidence in decisK*n-making.
i Developmen( for Southern
l Africa.
l Ethiopia. Madagascai.
Tanzania, Kenya,
Somalia. Malawi.
Comoros
Kenya Wildlife
i Tiust
I Support to Ufugaj
The Ufvgaji Hifadhi"iniliatFve
i Hifadhi Initiatrve for supports smallholder INestock
l Building Improved j farmers in Kenya's Mara region by
& Sustainable
i improving access to markets and
Livelihoods for
value chain5. helpTng to secure
Smallholder
fairer and mofe suslarnable
| Livestock Falmers l incomes. INASP contributed to
rn Kenya's
| this public benefil by supporting
Conservancies
! the devdopment of a knowledge
12023-20251
ecosystem of key stskeholders.
I strengthening evidence sharin9
and collaboration to inform the
i expansion of the modd.
3ie l FCDO
Research
I Commissionin9
Centre
Evidence use in
., INASP wothed with a team of
policymaking"
5pe¢ialisls convened by the
Theory of change i Reseaich Commissioning Centre
developrnent an
I Io PToduce of a Theory of Change I
I review ol measures , ITOCI linking the use of evidence
(2024-20251
.' wth policy processes. and review
i and appraise existing measures of I
l evidence use and meas{J￿$ of
facilitating conditx)ns, mapped
l according (o the theory of Change. j
Global
Interventions to
| INASP provided bespoke
influence the use ol I feedback to Global South
i evidence in
applicants submilting proposals lo i
policymaking
the Research Commissioning
(EIPM Strand 31-
I Centre-s interventions to influen
I the use of evidence in
I policymaking programme.
Afriea and Asia .
I Proposal review
1120251
rO￿l'aMMe impact
In 2025: in line with our currenl ftjnding. most of t)ur work ha5 addressed our second impact area.
Critical
knowledge forpolicy. practice and communities- with tsnty one aelive project under impacl area I 'Youth
can secure Ineaningful and dignified work. and no de(licated work under area 3 'Women educators and
researcliers are leading change..

Yoiitli C<ln seciire meaningfiil aiid dignified work
Inclusive learning 171 Nigerio to equip young womenforjobs in the digital indu5h.ies
INASP conliftued ils partnership wilh Yaba College of Technology in Lagos to support a Irainins programme
aching over 5.000 women and gir15 Wlth skills for the ICT and digital economy. INASP ¢ontributed lo thi5
public benelil by slrenglhenin9 the capacity of Nigerian educatols and industry mentors in gender-re5ponsive
pedagogy, enabling Ihern to Cfeale mole inclusive learning environments. In 2025. 109 professionals were
supported (180 since the project began). including 29 trained to ca*ade gender-respon5ive praCt￿e lo
colleagues.
CiitiC<il Iinowledge for policy, practice and conimiiiiities
nabling early eareer i'esearehers to odvanee their eareei
In 2025 we relaunched oui global learning. communrty as Rising Scholafs, ieflecting its broader purpose and
evolution frorn AvlhorAID. With support from Sida and Norad. the prograrnme w85 accessed by researchers
and e¢tucators In 126 countries and connected around 14.000 ￿SearCherS worldwide, enabling them lo share
knowledge. seek peer and expert advice. and budd collaborations that support the use of research for public
benefit.
'Rising Scholars is indeed Ehe light for most students in the Global South who lack acces5 to iesources where
they can learn about research." (Woman, N￿erial
Dufing the year. 8.196 iesearchers participated in dig4tal learning programmes covering granl proposal writing,
research wrifing. commLFnily*ngaged research and open research practices, with many taking multiple
courses. 45Yo of participants were women. A lurther 3.300 researchers attended online events. and 'bite-5ize'
leaming vide05 were viewed 2Q,000 limes. exlending access lo ￿Search skills and knowledge at scale.
Equipping marine scienti.sts to h￿nslate resea)￿h into octio
Building on the R15ing Scholars programme. we worked with the Ass¢xlal￿n of Commonwealth Universiltes
lo deliver 8 learning programme fof 100 early career marine scienlisls from 15 coastal countries in Africa.
South Asia. the Pacific and Cenlol Arnerlca. The pro9ramrne strengthened participants. ability.lo translate
marine research into real-world action through mcjdules on policy influence. Èngaging local commkanilies. and
proposal and grant writing.
Participanis developed a policy influencing plan, a communrty-based participatory research plan and a
collaborative research proposal. supporting the vse of research to Inform policy. practice and communsty
engagement. The cotsrse formed part of the Ocean Country Partneiship PfOgrammÈ, funded by the UK
Department for Environment, Food and Rural Affairs
F?'oin sL'ills to societal impact
In 2025 we strengthened our underslanding of how Rising Scholars (leliver5 public benefit by ertabling
researchers lo apply their skills for Jnslilutional community and policy impact. Mernbers reported increased
research skills. confidence and improvements lo practice. Suppo￿ng stronger use ol research beyond
individual careers.
"My expeiience has been tnjly ernpowering. 11 has encouraged me lo th￿k criticalty. collaborate effectNely,
and stay commrtted to making a t)osilive impact in my tEld.- Iwoman, Tanzania)
These skills translated inlg wder benelrt Ihrough improved granl wriling, research des￿￿. communication.
policy engagement and community engagement. Members reported positive Ghanges within in5tilulions.
including wider traTrning, mentorshtp and stronger research environments. and increased allenlion to equity
and inclusion.
-1 Introduced collaborative feedback sessions inspired by the Rising Scholars comrnunrty. which erthjcaged
more open discussion and irnproved research qijality within rny lab.. (Man, Tanzanlal
8eyond in5litulions, members rewted using reseai¢h to stspport comrnunrties and ¢onlribute lo positive
changes In policy environmenls.

Rooting Rising Seholars iii it.s copnmunity
The community became increasingty community-led. with two c¢￿VnI¢Y Steward5 appointed Irom
Under￿preSented regions. and new Community Administrators and eLearning Specialists from Uganda and
Ni9èriaioinin9 existing Administrators from Nepal and Nigeria. Leaining malerials were developed by Southecn
experts.
Community members increasingly stepped forward (o organtse and host tearThing events, support¢n9 Others to
develop. their skills and shape the d¢rection of the commvnity.
Assisting uniuersities to develop newprofessionol deuelopinentprogramnies
In partnership wrth Norad. we embarked on new institutional collaborations wth the Universrty of Dodorna in
Tanzania and the universltte5 of Mekelle and Jimma in Ethiopia. We are wo(king in parlnership with each
niversity lo un(Sersland the future need5 of researchers. so we can tailor our programmes to mèet those
emerging nee(Is, and lo assist Ihem lo develop professw)nal deveh)pmeTht programmes for their slaff.
Reforniing scientific publishing and advaneing open research
Researcheis and institutrons we work with continue to face significant barriers to s¢ientific publishing. including
paywalls and high costs to publish. In 2025 we worked to raise this issue with decision makers by producing
new evidence on the need for refom and convening d15cuss￿nS wilh.global development funders and African
science leaders. including alongside UN scler￿e lorums and at Afn"c8n regtonal events.
In parallel, we launched a programme supporting early career researchers from Easl Africa to vse open
science tools and appraaches to undertake more relevant and rtgoious research. Over 460 researchers
participated, with 25 becoming 'open research champion5' to train and mentor Col￿agUeS. Partner inslilulions
in Tanzania. Kenya and Uganda applied these approaches in work with famer networks and on C0￿mUnitY
water rnanagernenl. reframing cesearch agendas to fespond to cornmunty priorities and explore more
participalory approaches.
"We'll be diverting.lrom the normal desktop lilerature revie*• and instead leave pur office to listen to what the
communbty is saying about the issues they are faGing_- Dr. Julius Huho. Garissa University, Kenya
Sharing our learning and conb?butin9 new iitsights
AIon9side our direel supporl to TesearcheTS and educators, we have published a series of Teports and brEfings
and convened events with funders and partner5 to dTr5CU55 crit￿al issues. They included the following..
Africa's research publffshii)g landscape" examtinAiig joun7als. pgibltshers. 8iid t1￿ i17frasirucluiE behind Ihein
A review olopen access polKy oplions fordevelopmenl ￿Search fu17de
FinaiKiiJg Opel? Rese8rGh for Global Developmeiir." l?ow Africa can lead the nexl chapter
The fiiliire of opeii access publfrshing (orglobal developmenl.. Tris￿￿15 from the UN sc￿nCe Teclirjology and
Ii?novalioi? Fonij?? 2025
Global Developine171 Thmiigh Ei)abltiw Sysfenis." Pil￿11$S1ng Global Resea￿1) P(Iblishing Refojn?
Financial perfoi'mance
Peiforniaiice in 2025
In 2025 we launche(I new work from grants secured in 2024. including partnerships with Nofad {2024-20271.
the UK Foreign. Commonwealth and Development Office 12024-2026). and the Templeton Wodd Charity
Foundalion {2024-20261. Our multi-yeai cooperation with Sida12024-20281 continued: alon95idè a series of
smaller projects delivered with the FCDO Research Commission￿9 Centre.
Income rose significantly to £1.375.00912024.' E731.739) and we ended the yèar wilh a surplus ol
£173.53712024.. deficit of £121.0871. Th15 Strengthened financial p0511ion enabled us to replen15h reserves.
and inve51 in priorily projects to support future delivery and business development, including redevelopment
ol the Rising Scholars platfomi. a new website. and Improvements to conlracliny Pr￿esSes.

Reserves policy
The charity has a general uniestricted reserve of £240,651 as of 31 Oecember 2025 {2024.' £187,S8118nd
reslrtcted reserve of£138.360. giving total reserves of£379.011. We expect a transfer of
approximately £100,000 to the Unrestr￿le￿ reserve at the end of March 2026 on cornplelK)n of our current
FCDO granL
In 2025 the Trustees. guided by Ihe Finance and Audit Committee and Charity ComMiss￿n guidance.
reviewed and ￿ViSed the reserves policy lo reflect changes in the organisation's Sue and financial needs. and
the true costs of c105uie should this be required. The Trustees set a reserves threshold ol £143,696. provrding
a £20.000 buffer above the cakulaled cosls of closufe over a five-month period. Ckjsure cost calculations,
and therefore the.reserves threshokl, are reviewed if staffing changes or il monthly fixed operating costs
increase.
Our 2026 core operating costs bLadget for 12 months {salaries and general opefaling expenses)
is £650,70812025. £679,549). Currenl modelling indicate5 that, were no new inco￿￿ lo be secured (which we
judge to be unliketyl. the charity would ￿maIn above lis reserves Ihieshold untrf quarter 3.
Going concern.
Significant efforts in business developmenl over several years. the replenishmenfofreserves. and an expected
uplift to reserves al the end ol March provide a Strong foundation as we enter 2026. We have conb'nued to
refine our operating model and enhance the ass(Kiale model. enabling us lo respond more flexibly lo the
funding environment.
We have establ￿Shed clear going concern tTwJgef points_ The Board reviews management ac¢ounts monlhly.
and our business deveioprnent systems enable live monitoring of the funding pipeline and modelling of the
impact on reserves. allowing timely Identrfication of any adjustments required. The Trustees review the
financial position regularly. and consideralioft of going concern is a standing Item at Board and committee
meetings.
The Trustees have assessed whether the charity is a going concern. meanin9 It has adequate resources lo
conb.nue operab'ng for the foreseeable future. This assessment included a review of forecasts, the current
financial position. known rtsks and available mitigating actions. Based on this assessment. the Twstees are
confident that there are no material un¢ertainties regarding INASP'S ability to continue as a going concern and
conclltde that it is appropriate to prepare the financial statements on the going ioncern basis.
Investment policy
The Board requires Ihat non-wofking funds be placed in sh'ort-lerm risk. interest earning accounts. Eaming
from investments were relatively low during the year. Funds We￿ held in the COIF Chaiities Deposit Fund. an
ethical investment fund managed by CCLA Investment Management Limrted.
Fundraisin(T
FiindLciisiiig policy
We engage with statutory funders. trusts, foundalK)ns. private companies and the public lo raiae income..Our
business developmenl and fundraising strale9y has three overarching goals..
1. Realising our mission.. Securing grants that enab￿ us to delNer our strategy. identifying business
development opportunrfies under each of our key outcomes, and developing specific plans
foT maintaining, g1￿)ng. and acquiring key donoi relationships and developing new in¢ome streams
in each one.
2. Achieving financial sustainabilTrty'. Balancing the books with the aim to cover staff costs in lull and
gener8ling a modest monthly surplus to allow us to rebuild ieserves.
3. Developirbg a diversified portfolio of funding". Multiple svzes. and lunding models lo sustainably
deliver support in a mode that fuifils our commitment to Southem leadership and responds to the"
rapidly changing funding environment.
10

We have received rio complaints about INASP'S fundraising a¢b"vtt*s.
Fiiiiding cliinate
It has been an exceptionally difficult year for fundraising. Our pipeline has been affeded by Evropean and US
funding cuts. strategic shrfts, increased competition and uncertainty among philanthropies, conts"nuing a wider
withdrawal from 'public good. iftvestments in research and tertiary education systems. The disruption to
international developmenl, knowledge and iesearch fundfjng in Q1 made il particularly dif[￿Ul1 to build new
dialogue with lunders.
In response. we recalibrated our appioach and developed sliong. challenge-focused extensions lo our core
prografflmes, aligning our eypertise to wnajor societal challenges, partner needs and lunder Pfiorities, including
local pharmaceutical manufacturing in Alrica. the cnsis in foundational learning, and the climate-heallh nexus.
While the funding climate rernains diificvlt. these ideas are genèrating signrficant enthtjsiasm. Norad has
indicated it5 intention to explore continued co¢)peration beyond 2021. alihough in February 2026 we leamed
that Sida would end our partnership eady due lo cuts to Swedish overseas development as5istsnce. Vvhile
this pbaces additional pressure on fundraising in 2026. il was ant￿ipated in our strategy. and with a strong
pipeline and continued demand for OLtr support. we rem31n Optimistic about securing new fund5 ¢ioring the
year.
Fiindraisiiig approach
To ensure we can generate sufficient funding to cover our work in 2026 and beyond we a￿..
Buildin9 new strategic partnerships with Southern partners. including national research and
highereducalion agencies. govemment departments. regional universty networks and NGOS. to sGale
our proven programmes
Strengthening relationships with existin9 funders and partners lo enable u5 to take successfvl
projed5 into new phases and posrtion longer-lerm opportunthes.
Progressively expanding our Associate team so that we have the right expertise lo respond lo new
opportunities and evofving INASP'S business and operating model so thatwe are more strongly rooted
and belter positioned lo deliver work auoss AfriGa and Asia.
Mapping new donors and using Ihi5 inlelligence to drive a continued pro9ramme ol outreach. lo
cultivate new reLHlionship5, and to posilion our ideas and concepts lo show.how we can help them
realise their strategies.
Retaining the services of a specialist funding and strategy consultancy {Global Leaders) which
Is specialised in our sector, to augment the capabilities of our slaff team and board.
Paying close attention to shifts in the landscape, such as the wider impact of cuts to development
spending by the US and Etjropean govemments.
Engaging with the latest debates and trènds. to ensure we are developing new concepts and Ideas
Ihat respond lo new opportunit￿5 for impact, changing technolc*Jies, and shifts in research and
education systems in the countrie5 where we woth.
Communicating our ideas and impact. telling more cc¥npeNing stories, raising our prolile and
positioning the ideas. expertise and experien¢e ol our gksbal team mosl effectively.
Carefully appraising calls for proposals so that we select and respond to only those which are
aligned with our strategy. are financially viable and enable us to deliver quality wort while ensuring
our organisatitinal heallh.
Governaiice, operatAons and risk management .
StiTrictLlI-e
The organisalion is a fjharilable company limited by guarantee. incorporated on 2 OclobeT 2003 and iegislered
as a.charity on 16 October 2004. The company was estab115hed under a Memorandum of Association which
eslablished 115 objects and powers and rs govefned under ils Artic1È5 01 Association las amended June 20191
All Trustees give their time voluntarily and ceceive no benetits from the charity. Any expenses reclaimed from
the charity are set out in note 6 to the accounts_

The ¢harity's object$ are.. "For ehe benefit of people in Trsoiirce poor countrie5. lo advance research and
education by..
The disseminat￿1 ofand improving access to scientific, technical: Med￿al and scholaty infom7al￿n.
Trainiiig educat0￿. librarAans, publisher5, Trsearchers. sludenls and olhefts in the o@a17ization.
management and dissemination of infomjalion and knowledge.. and
Advising other agencies or bod￿$ iipon such matlers-_
Day lo day management of the charrty is delegated to the Executive Diiedor and staff team.
Appointment of Trustees
The Tiuslees are elected lo serve for a perK)d of Ihree years after which they may be reelected at the next
Trustees meeting for one more term of th￿e years. except In the ease of the Chairmanltreasurer who shall be
permitled to remain 8$ a Trustee until their period of off￿e as chaimianltreasurer has expired. Trustees are
not remunerated for their TFusleeship and TTllStee expenses and felated party transactions are disclosed in
note 6 to the financial statements.
The Chair of the Trustees ts ullwnately responsible for recruiting new members and consults widely on potential
candidales lo ensure they represent the areas of Ihe charity's aclivrties antjlor contribute the kno￿edge and
ski115 required for the board ol Truslees to 94ve good qualLty oversight and advice to the charity's executive
management.
Triistee indLlCtion and training
hAost candidates are al￿adY familiar with INASP and its activities. bul for induction and training purwses they
are made aware of their obligations as Trustees and members of the Board. They are provided with the terms
of ieference for Truslees. the articFes ol the charity and other key documents such as strategic and financial
plans. and 1-1 mèetings are organised belween Trustees and key staft to introduce them to key programmes
and intere51s.
Rel<lted paities and i'elationships with other organisations
Related party transactions in the year are disclosed in note.7 to the financial statements.
Remiineration policy
In delermining the remuneration policy. the Board of Trustee5 considers all factors which are deemed
necessary. The objective ol the policy Is to ensure that Ihe Executive Director and staff team are provided with
appropriate incentives lo encourage enhanced pertoimance and are. in a lair and responsible manner.
rewarded for their indivtdual contributions to the success ol the Charity. The approprialeness and relevance of
the remvneralion policy is reviewed annualty including referen￿ to cofftparisons with other charrties ensuring
INASP remains Sensitive to the broader market e.9.. pay and employment conditions eL%ewhe￿.
We aim lo recruit. subject to experience. at the lower - medium point within a band. providing scope to be
rewarded for excellence. We pay the livin9 wage for all our staff.
Delivery ol SNASP'S charitable vt5ion and purpose Is prunarily dependent on our 51aft. which is the largesl
single element of charitable expenditure. In 2025 INASP awarded staff a 4°A salary uplift, rellecling increases
in the cost ol living. tape￿d across the organisation so that lower paid staff re￿iVed a higher percentage
adiustmenl. Further tnformation on pension arrangements and on the salary costs lor the year with
comparisons to the previous year are pre5erFled note 6 to the financkal statements.
Statemeiit of i'esponsibilities of the "fiiistees
The Trustees (who afe also directors ol INASP for the purposes of company law) are reswnsible for preparing
the Trustees. annLial report Including the slrateg5c report and the financial 5fatements in accordance with
applic3ble law and United lingdom Accounting Standards (Uniled Kingdom Generally Ac¢èpled Accounting
PraGlicel.
12

Company law requires the Trustees to prepare f*nancial slatemenls each financial year wh￿h give a true
and fair view of the siluation ol the charitable company and of the incoming fesources and application of
resources. including the income and expenditure, of the charrtable company for Ihal period. In p¥eparing these
finan¢ial statements, the Trustees are required to".
Select suitable accounting polrcies and then apply them consistently.
Observe the rnelhods and principles in the Charities SORP.
Make judgements and estimates that are reasonable and pwdent.
Stale whether appI￿able UK Accounting Standards and statements of recommended practice have
been followed. Subject to any material departures di5c105ed and explained in the financial slalements.
Prepare the financial statements on the going concem basts unless it is inappropriate to wesume that
the charity wi51 continue in operabon.
The Trustees are responsible for keeping proper accounting ie¢ord5 that d15c105e *Mth reasonable accuracy
at any lime the financial position of the chaTrtable wmpany and enable Ihem to ensure that the financial
statementg comply with the Companies Ad 20C6. They are also responsible lor safeguarding the as5els of
the chaTrtable cornpany and hence for laking reasonablè steps for the prevenlion and Oelection of fraud and
olher irregularities_
In so far as the Trustees are aware..
Theré is no relevant audit information of which the charitable company's aL+ditors are unaware.
The Trustees have taken all 51eps that they ought to have taken lo make themselves aware ol any
relevant audit information and to establish that the auditors are aware of that inform*ion.
The Trustees are responsible for the maintenance and integrity ol the corporate and financial informab.on
included on the charitable company's websrte. Legislation in the Unileol Kingdom goveming the preparation
and dissemination of financial statements May drffei from legislat￿n in other jurisdictions.
Members of ihe charily guarantee to ¢onlribute an amount not e¥￿edIng £1 to Ihe assets ol the charity in the
event ofwinding up. The total number ol such gLFarantees at 31 December 2025 was 612024".51. The Trustees
are fflembers ol the charity. but thi5 entilles them only to voting rights. The Trustees have no beneficial interest
in the charity.
Management structiire
Boord
A new Treasurer. Cody Moolman, was cecruited in early 2025 and joined the Board at ils April 2025 meeting.
Working with Cody. the Execvlive have initiated a phased Internal audit process to ensure we evolve and
adapt our financial policies and procedures lo track changes to 9oveinance atKI compliance ￿qUIrements. 1
2025 the B03rd of Tru51ees revised ils commifiee structure. establishing a new Governance and Risk
Committee, and revising the lellns of referen￿ and frequency of the Finance and Audrt Committee and HR
and Safeguarding Committee. This aims lo ensure that the 8oaid has specialisl oversight of key
responsibiltties. and a clear mechanism lor ￿pOrting into the board. whilst enabling thè 8oard to spend more
tirne reflecting on the strategic questions.
E.Yeciitive
The charity's day to day management is delegated to the Exectrtive Director. Jonathan Harle. An operational
plan is developed by the exe¢utive and agreed with Trustees. which h8enfifies key objectives for Ihe year and
sets performance indieators, against which the Trustees moniror progress_ In 2025 these covered financial
performance (surplus and re5erves.' forward operating costs secufedl." business development and irnpacl
Istrategy development, impact reporting, fvnder engagement)," operatK)ns and delivery Iprogramme
innovation)". people and ¢apacity IKPI leaffl motivation. engagèment and confidence). We have continued to
evolve our operating culture and piaclice 10 ensure we are able lo reco9nise income in a timely fashion and to
ensure that otjr efforts are clearly focused on outcomes arTrd impact
The Executive Directoi ¢eads a staff team of 9 lin 2024 there were 6 staff members} and an Associate team of
18 lin 2024 there were also18 associates). Day lo day operations and delivery are managed by a Senigr
Project Manager, Finance Manager, and Operafions Manager. Programrnes are delivered by joint teams of
staff and Associates. reporting lo the Senior Pioject Manager. In early 2025 we recfulted three new staff one
ol whom is based in Nairobi. Kenya. Whilst a modesl step. this cefEects oui ambition to rool ovrselves more
strongly in the research and tertiary educalion systems with which we woth. and lo diversify our team.
13

Rislc Inaiiagement
All significant project acltvities undertaken are subject to a risk review as part of planning and this 15 regularly
updated d¢Jring irnplemental￿n.
Organisalion-level risks a￿ idenfified and assessed in terms of theFr potentTal impacl a¥Kf likelihood 8nd tracked
using a risk register, jointly developed between the Board and the Executive Director, manayed by the
Exetvlive Director. and monitored by the Board. In 2025 we developed a new risk pollcy and an updated risk
strategy, using Ihe Charily Comrnission's guidance. The new policy anif slralegy wver risk5 in four areas"
GovernanGe and cornplianGe. which affect oui abrlity to carry out our legal, and stslijtory obligalM)ns. or lo
meet the reqU1￿MentS of our funders and partners_ These woulLI arise from weaknesses in.. b02rd and board
committee composition and operation." organisational poJ&¢ies and strategies.
Operational risks. which affect our ability to plan and deliver fvndable work. These would arise from
weaknesses in our organisat￿nal operating model. project and prografflme delNery," our visibility and
reputation in a Crowded and compets.tive environmenl
Financial risks, which affect our sustainability as a vjable Organisat￿n. These would atise from weaknesses
in our financial control, forecasting and management processes including management of contracting risks
and of our re5eNes. our dependency on limited income 50urce5.
Environmental Iisks. which affe¢t our organisational relevance and, through that, our sustainability. These
would arjse from.. geopolitical shifts wh￿h sh3pÈ funder pr￿Tities". technolog￿1 asJvan¢emenls which shape
our delivery model. value of our expertise, or cost effectiveness of OUT delNery.
The key risks for 2026. and our approach fo mit@alion are listed here".
Category
Statement ol the risk & potential
Risk management acttons
impact
Govèrnance &
omplian¢e
None identtfied al present
I nla
Operational
Ttieie is a risk that if we do not
secure new funding. staff on the
FCDO project leave before
completion and we are unable to
deliver frnal outpuls, which will also
risk final payment for milestones.
Continue Io WOTk with both staff to nurture
funder relationships and develop
proposaks. Further funder engagement
planned over Nov￿e( 2025 and.in QI
2026_
Operational
There is a risk that the w()rkload
and pressu￿ that results from
programme delivery and business
development in a small team. plus
insecur¢ty in funding, leads to
burnout andlor staff turnover. There 4
is a particular iisk to the ro￿ of the
Executive Direclor.
Continue to offer monthty wellthing"
afterrtoons in addttion lo leavè and
encouia9e slaff to use these.
Streamline contracting processes and
c¥eafe fiamework contracts for Associates.
tg relieve pre55uie. By end of Jan 2026.
Training for progiamme team on elfe¢tive
management of consullants.
Key Peison Risk pdicy in place. To be
reviewed and updaled by in Q12026. April
2026.
Operational
There is a risk that our digital
pL3tforms are not suffic*ntly secure
to withstand cyber attacks and that
breach significantly comprises our
ability to deliver coce programmes.
Commiss￿ft suppliers to develop new
Rising Scholars platform lo improve our
core delNery inlraslructure. De5ions by
MarchlApril 2026. Bvild by MaylJune 2026.
launch in JunelJuly 2026.
Financial
There ig a risk that risk that we are
nable lo meet operational c051$ as
they become dve.
Respond lo Sida funding cul by reprofiling
budget lo maximise coverage of fixed
cosis. reducing associated project aclivilie5

and relocusing efforts of staff téam towards
business development. By end of Feb
2026.
Review Varian￿ ana￿sIS on monlhfy basis I
(management accounlsl and actively
monttor pipeline and impact on reseNes
using new forecasting and modelling tool,
pdale Board as parl of monthly financial
reporting and ide'nlrfy a¢*"ustments or
decisions needed.
Continue lo actNety engage Gates. IDRC
and FCDO about a fulure phase ovef Q1
2026 and continue lo develop
conversations with other fvnders.
Continue to lead new proposals & new
strategy. to secure funds for other projecls
on which two staff members could be
employed.
Environmental There is a risk that a retreat from
development aid by European and
US funders conlinue5 to generate
extreme Com￿tillon lor
philanthropic lunders. and we
struggle lo compete. erther because
of our offer, or because of our
kjcatnn l operatln9 base.
Environmental There is a risk that technological
advancemenl and specifically
generatwe Al undermine5 the value
of our core learning programme.
and our funding conslrainls mean
we a￿ unable to adapt last
enough.
Continue to explore new operaling models
and localion as part of new strategy.
Continue to approach new funders
includin9 corporate philanthropy with ideas
aligned to their interests e.g.
pha{ma￿￿tIcal manufacturing.
See mitigating actions for operational risk 3 "1
above.
Continue updates lo our rore learning
programme- e.g. lo incorporale elements
on effective use of Al- to continue to
posrfion OUT expertise.
Sil fegiiarding
iNe are committed to prorwting the r￿h1$ of all peO￿e to ljve free from abuse and coercion. we are cornmitted
lo putting in place safeguards and rneasures to prevent abuse and to ensure that people are treated with
respect. We are nurtunng a culture where any fom of abvse Is unacceptable and everyone who works with
us is safe. Ijve have {ev￿wed our policies and procedures. so that they ¢leafly set out our standards and
expectations ol si3ff and establish clea¥ linès ol re5ponsilm.lity and ￿portIng. We ensure that our￿$$11ets1oWing
policy and procedure rernairis clear and easy lo Idlow and a direct route remains lo Ihe board of Trustees.
We have eslablished an annual ITaining programme to ensure staff, associates, Trustee5 and those who
deliver work for INASP are aware ol and kn<)w how to apply Ihe5e poliGies and standards.
AiidiLoi'
Wenn Townsend were appointed as the charitable company's auditors during the yèar and have expressed
. their willirbgness to contrnue in that capaciEy.
15

Plallis for the future
During 2025 we convened a series of tliscussions with staff. associates and partners to shape a new strategy.
This process has generated fresh rdeas and given us greaterclarity ovef the distinctive contribution that INASP
can Make. and the direction we need to move in. We aTe consjdering how we can rool ourselves more strongly
in the countries and in thè research and tertiary education systems in which we wtsrk through new operating
mode15, and how we can do More to support to tertiary in51rtLrtions. researchers and educator5 more strongly
to key socielal challenges. Initial read-outs from Ihis process were discussed with staff and Board in late 2025,
and we plan to publish a new strategy in Q2 2026.
Over 2026 we will be invesling in our dryilal infrastrucfure. building a new plattorm to SUPPOrt the Rising
Scholars cornmunily. and will be deepening our woth to understand and communicate the wider impact of our
work, and that of our partners. We wll continue to work with Global Leaders to develop new ideas. convene
discussions with funders and partners. arKI lo position our thinking on how research arKJ lertiaiy education
syslems can respond to the challenges of our tirnes.
The Trustees, annual repc¥t which includes the slratÈgic report has been appioved by the Truétees..
On 30.AFffj.I 2026
ar￿ signed on thwr behalf by: .........
Cody Moolman
ITrusleel
16

Independent auditor's report
To the rnernbe￿ of International Network for Advancing Science and Policy Ltd
Independent Auditor's Report
Opinion
We have audiled the financial statements ol International Neiwork for Advan¢4ng Science and Polw Ltd (the
charilabk company) foi the year ended 31st December 2025 which comprise the Statement of Financial
Activities. the Balance Sheet, the Stalemenl of Cashftow and notes lo the financwl sialements. including a
summary of significant accountin9 policies. The financial reporting framework that has been applied in their
preparation is applicable law and United King¢Yom Accounting Standards. incltsding Financial Reporting
Slanclard 102 The Financial Reporting Standard applicable in Ihe UK and RepL*blic of Ireland Iuniled Kingdom
Generalty Accepted A¢countin9 PradKel.
In our opinion the financial statements".
give 8 true and fair view ol the stste of the charitable company's affairs as at 31 st December 2025,
and ol rts incoming restyjices and applicatron of iesoijrces. including Its income and expendiltjre. for
the year then ended".
have been properfy prepared in accordance wilh United Krngdom Generally Actep(ed Accounting
Pradice. and
havè been prepared in ac¢ordance wlh the requirements of the Companies Act 2006.
Basis for opinion
We condvcled our audit in accordance wilh International Standards on Auditing (UK} IISAS {UK)l and
applicable law. Our responsibilitie5 under those standards are further described in the Audrtor's responsibilities
for the audit ol the financial statements seclion of our report. We are independent of the charitable company
in accordance with the ethical requiiements that are relevant to our audrt of the financial stalements in thè UK,
including the FRC'S Ethical star￿ard. and we have fulfilled our other ethical respons*bilities In accordance with
these requirements. We believe thal the audit evidence we have obtained Is sufficient and appropriale to
provide a basis for our opinion.
Concliisions ielatin(T to going concern
In aiKfiting the financial statements. we have concluded that the tnjstees. use of the goin9 cOn￿rn basis of
'accounting in the preparation of the financial statements is appropriate_
Based on the work we have pertormed. we have not ￿entified any material uncertainties felatin9 to events or
conditions fhat. individually or collectively. may cast S￿nificant doubt on the charitable company s ability to
continue a5 a going concem for a period of al least tWe￿e months from w+ren the financ¢al slatements. are
authori5ed for issue.
Our responsibilities and the responsibilities of the trustees wth respect to going concern a￿ described in the
relevant seclions of thi5 report.
Other intorination
The Iruslees are responsible for the other information. The other rnloimalton comprises the informalion
included in the trustees, annual report. other than the financial statemenls and our auditorfs report thereon.
Our opin50n on the financial statements does not c(wer the olher inlormalion and. excepl lo the extent
otherwise explicitly slate(S in our report. we do not express any fomi of assltrance conclusion thereon.
In connection with our audrt of the financial 5talementS. OUT responsibility is to read the other information and,
In doing so, consider whether Ihe othei Information is materially inconsislenl with the financial statements OT
our knowledge obtained In the audil or otherwise appears lo be materially mis513ted. Il we identify such
material Ineonsistencies or apparent material misslatements, we are required to determine whether Ihefe is a

Indèpendènt auditor's report
To the rnembers of International Network for Advancing Science and Policy Ltd
material misstatement in the financial slatemenls or a nwterial rnisstalement of Ihe oiher information.11, based
on the woth we have performed. we condLKle Ihat there is a malersal misslatemenl of this oiher infomalion,
we are required to report that fact.
We have nothing to report in Ihi5 regard.
Opinions on other mattels prescribed by the Coinpanies Act 2006
In our opinion, based on the work undertaken in Ihe course of the audit".
the information grven in the irusiees. report linco￿oratirrtJ rhe Irustee5' reportl for the financial year
for which the financial statements are prepafed is consislent the financial statements.. and
the trustee5' report has been prepared In accordance wilh applicable legal requirements.
Matters on which we are reqiiired to i"eport b). exception
In the lighl of our kno%￿edge and underslanding of the charitable company and its environment obtained In the
coijrse ol the audit. we have not idenfified materkgl missl8temÈnts in thé trustees, reporl. Wè have nothing lo
Teport in respecl ol the following matters in relation lo whjch the Charities {Accounts and Reports) Regulalions
2008 require us to report lo you if, in our opinion..
the Information given in the finanGial statements is inconsistent in any material respect with the
trustees, report.. or
the charilable company has not kept adequate accounting records., or
the financial statements are not In ag￿ement with the accounltng records and ￿turns.. or
we have rtrot received 311 the information and explanations we requife lor our audit.
the trustees were not entitled to prepare the financial statements in accoidance with the small
companies. regime and take advantage of the small companies. exemption in P￿paring the Irustees.
annual report and from the requirement to prepare a Strateg￿ report.
Respoiisibilities of tl-llbtees
As explained more fLilly in Ihe Iru51ees' responsibilities statement. Ihe tnjslees {who are also the directors ol
the charilable company for the purposes of company lawl are responsible for the preparation ol the linancial
statements and for being satisfied that they give a irue and fair view. and lor such inleinal control as Ihe
Ir(sStees detemine is necessary lo enable the preparation of financwl slatements that are free liorn material
misstalemenl. whettter due to fraud or erfor.
In preparing the finanaal stalefflents. the trustees are fesponsible for assesslng the charitable company's
abilrty to continue as a going concern. disclosing. as applicable. malleis related to going concem and using
the goin9 concem basis ol accounting unles5 the Iwslee5 eilher inlend to Iiqijidate the char¢lable company or
to cease operations. or have no iealistic allemalive byl io do 50_
AiiditOl"'.q L"esponsibilAties toi the aiidit of the flnaiicial statements
Ou¥ objective5 are to oblain reasonable assurarlce aboul whether the financial statements as a Whts￿ are free
from Mate￿81 missiatement. whether due to fraud or error. and to issue an auditor's report that Includes our
opinion. Reasonable assurance is a high level of assurance. bul Is not a guarantee that an audit conducted in
¢cord3nce with ISAS IUKI will a￿ayS detect a material misstatement when il exists. Mi5Statemen15 can arise
from fraud or error and are considered material If. tndividually or in Ihe aggregate. Ihey could reasonably be
expected lo influence the economic decis￿nS ol u5er5 laken on the basts of these financial Statements.
Irregularities, including fraud. are instances of non-ccxmpliance wrth lavs and regulations We desjgn
piocedures in line with our responsibilitles. outlined above, lo deteGI material misstatements in respect of
I￿e9vIar11Ies. including fraud. The speciftc procedvres For Ihis engagemenl and Ihe extent to which these are
capable of detecting irregularities. including fraud is detailed below..
18

Independent auditor's report
To the mèmbers ot International Network for Advancing Science and Policy Ltd
Enouiry ofmanagement and those charged wrth governan￿ around actual and potentwl I￿￿Otion and
claims..
Reviewing minules of meetings of those charged wth governance..
Reviewin9 finanual slatement di5c105ures and testing lo supwrting documenlati()n lo assess
compliance with appI￿ab1è laws and regulations..
PÈrfomrng audit wort( over the nsk ol mana9emenl overrKle of controls. including testing Of journal
entries and other adJuslment5 lor appropriateness. evaluating the business rationale ol significant
transactions outside the normal course ol busJr7es5 and reviewing accounting estimates for bias.
Because of the inherent limrtations ol an audit. there is a risk that we will not detect all irre9ulaTilies, including
Ihose leading to a material misstalement in the financial statements or non<ompliance with regulation. This
risk increases the more that compliance with a law ￿ regulation is removed fioffl the events and transactions
reflected in the financial statements. as we will be ￿sS likely lo become aware of instances of non-complianee.
The risk 15 also greater regarding Irregularitses occuriing due to fraud ralher than error. as fraud involves
intentional c￿ce81ment, forgery, collusion. omission or mi5representalion.
A further description of our responsrbilrt*s for the audit of the financial statements is located on Ihe Financial
Reporting Council's website al Vh¥W.Irc.org.uklauditofsresponsibilities. This description fomis part of our
auditor's report.
Use ot oiir report
This report is made solely to the tharitable company's members. as a body, in accordance with Chapter 3 of
Part 16 of the Companies Acl 20C6. Our audit work has been undertaken so that we might slate to the
charitable company's member5 Ih05e malte15 we A￿ required to state to them in an auditor's report and for
no othèr PLJrpose. To the fullest extent pemiitted by law. we do not accept or assume responsibility lo anyone
other than the charitable company and the charitabk c¢)mpany's members as a body, for our audii work. for
thi5 report. or for the opinions we have formed.
Ajay Bahl BA BFP FCA (Senior Statutory Auditor)
For and on behalfof Wenn Townsend
Chartered Accountant5 and Statutory Auditor
Chartefed Accovntants and Statutory Auditor
30 St. Giles
Oxford.
OX1 3LE
2026

International Nemirk for Advanclng Science and Policy Ltd
Statement of financlal actlvities (incorporating an income and expenditure account)
For the
ar e'nded 31 December 2025
2025
Total
2024
Total
Unrestricted
Restricted
Income from:
Charitable activities
Programme work
Investments
153,145
13.785
1.208.079
1.361.224
13.785
724,597
7.142
Total Income
166.930
1.208.079
1.375.009
731.739
Expendlture on:
Charltable actlvlties
Programme work
3a
113.860
1.087.612
1,201.472
852.826
Total expendiwre
113.860
1.087.612
1.201,472
852.826
Net Income l {expenditure) for the year
53,070
120.467
173.537 {121.087)
Transfers bet¥veen funds
Net movement In funds
53.070
120.467
173.537
1121.0871
Reconclllatlofi of funds:
Total funds brought fotward
187,581
17.893
205.4:74
326,561
Total funds carrled fofward
240.651
138.360
379.011
205,474
All of the above results are tlerived from corttinuin9 attivities. There were no other recognised gains or losses other
than those stated above.
20

Intrinarlonal NÈt*vrk for Advandn9 Sc5eno and Follcy i
Balance sheet
Company no. 04919576
As at 31 Decefflber 20Z5
2025
2024
Mote
Flxed assets:
Tangible asseis
CUr￿n£ assets..
Debtors
io
231.192
654.782
11.497
fA7.282
Cash at bank and in hand
885.974
658.779
Llabllltles:
Creditors.. amounts fallin9 due within
one year
<506.963)
(453.305)
Net current assets
379.011
205.474
Total a55ets le55 cyrrevrt Ilabllllle5
379.011
20S.474
Toul net assets
379.011
Z05.474
The funds of the charlty.
Unresrrtcied income lunds..
Unre5tFicted 9eneral funds
Restrlcted funds
18
19
240.651
138.360
187.S81
17.893
Toul charSty funds
379.011
205.474
Approved by the tmstees on 3.1og1kniiand sTrgned on thetr behalf bv .
Cody Moolman rrrusteel
21

Internatlonal Network for Advanclng Sdence and Policy Ltd
Statement of cash fl
For the
ar ended 31 December 2025
Note
2025
2024
Cash flows from opernfjng actmties
Net cash pr¢)vlded by l (used In) operatifW activltles
14
16,285)
276.497
Cash flows from investlng actmties:
Dividends, interest and rents from investments
13.785
7,142
Net cash provlded by l (used In) Investlng aCtlvltSes
Net cash provided by l (used In) finandng actl¥ltles
Change In cash and cash equivalents in the year
.7.500
283.639
Cash and cash equlvalents at the beginning of the year
647.282
363,643
Cash and cash equlvalents at the end of the year
15
654.782
647.282
22

Internatlonal Network for knclng Science and Pollcy Ltd
Notes to the finanoal ststemen¢S
For the ￿ar ended 31 December 2025
l Atrountlng pollcles
a) 8asls of prepararion
The financial statemenis have been prtpared in accordance with Accounting and Reportrng by Charities..
Starement of Recommended Pracrice applicable to charities preparing their accounts in accordance with
rhe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 leffective I
January 20191- ICharitie5 SOIiP FRS 102), the Financial Reporting Standard applicable kn the UK and
Republic of Ireland (FRS 102) and the Companies Act 2006.
Assets and liabilities are initially recognised ar hTr5torical cost or transattlon value unless otherwise
stated in the relevant accounting policy or note.
b) Publlt ￿nefftt entlty
Tht charitable company meeis the definition of a public benefit entity under FRS 102.
c) Golng concorn
Having taken consideration of the amount of unrestrirted reserves. the trvstÈes consider there is a
reasonable expectation that INASP has adequate resource5 to continue in operational existence for the
foreseeable future. The Trustees are also satisfied wiih the contro15 Irt place for monitoring and flexing
the budget throughout the year. Accordingly we continue to adopt the going concern basi5 in preparing
this annual report and financial siatements.
The trustees do not consider that there are any sources of maierial uncertainty at the reporting date that
have a significant risk of causing a material adjustment ro the carrytng amounts of assets and liabilities
within the next reportin9 period.
d) Income
Income is recognised when the charity has entitlement tts the funds. any perfomiance condition5
attached to the income have been met, it 15 probable that the income will be received and that ihe
amount can be measured reliably.
Income from government and other grants. whether 'capital' grants or'revenue. grant5. is recognised
when the charity has entitlement to the funds. any performance condhtions attached to the 9Tanis have
been met. it Is probable that the income will be received and the amount can be measured reliably and is
not deferred.
Income received in advance of the Pfovision of a specified sef¥ice is deferred uniil the criteria for income
reco9nition are met.
e) Interest. receivable
Interesi on funds held on deposit is included when receivable and the amount can be measured reliablv
by the charity.. this 15 norm￿lY upon notification of the Trnterest paid or payable by the bank.
Expendlture aftd Irrec0￿r8b1e VAT
Expenditure is recogni5ed once there is a legal or constructive obli9ation Eo make a payment to a third
party. it is probable that setilement will be required and rhe amount of the obli9ation can be measured
reliably. Expenditure is classified under the followin9 activity headings..

Intematlonal Net4votk for Ad¥andng Sdeme and Pollcy Ltd
Notu to th* financlal staternen15
For the year ended 31 Dectmber 2025
l AccountFng pollcles Icontlnued)
Costs of raising fund5 relate to the costs incurred by the charitable company in inL1ucing third"
parries tts make voluntary conrributions to ir. as well a5 the cost of any activities ¥￿th a fvndralslng
purpose
Expendsiufe on charitsble acuvbtie5 includes the co$￿ of delivtrin9 service5. and other aaiwiies
undertaken ro further Ihe purposes of the charity and their associated support costs.
Other expenditure represents those items not falling ifiro any other headin9
Allocatlon ofsupport costs
Resources expended are recognised in the period in which ihey are incurred.
Resgurces expended are allixated t¢) the particular aaivity where ihe cost relaies directly to that aciivity.
However. the c05t of oveiall direaion administravon of each acriviry. cornprisin9 the salary and
overhead costs of the centval funttion. Is apportioned based on ihe percentage Of contribution for each
actlwty. Thi5 Is a chaTr9e from the prior year allocat6on based on staff lime and is consideitd io be a
more accurate refteciion.
Governance cosis are the costs assocoated with the governance arran9ements of the tharity. These costs
are a550csaied wsth con511tutional and statutory requirements and include any costs associated with the
srrate9ic rnanagernent of rhe charily's acrivities and have been allocated to actiwties on the same basls
as the prior year.
h) Operatlng leases
Rental charges are ch3r9ed on a strai9hi lint basis crter the ierm of the lease.
Tanglbli fixed asstts
Iterns of qquiprnent are capi￿115ed where ihe purchase price exceeds £l.OQO. Depreciation cost5 are
allocated to activities on the basis of the use of the relaied assets in Ihose artI￿ries. Assers are reviewed
for Impairment If circumstsnces indicate their Carrying value may exceed theif net ieallsable value and
value In use.
Depreciation Is prwded at rates calculated to *￿te drm the cost of each assei to its estimated residual
¥alue over Its expected useful life. The depreciation rates in use a￿ as follows..
Computer Equipment- 3 years 51raight line
Office Equipment- 3-5 years strai9ht Ilne
Furniture & Fitting5- 3-S year5 51rai9hi line
Jl Debtors
Trade and oiher debiors are recognised at ihe selllernent amount due after any trade dbsc¢wnr offered.
Prepayments are valued ai the amount prepaid ner of any rrade discounrs due.
kl Cash at bank and In hand
Cash at bank and cash in hand indudes cash and short term highly liquid investments a short
maturlty OT three monrhs or less fiom the date of 3¢qIIFSltion or opening of the deposir or similar
account.
11 Crtdltors and provlslons
Creditors and proTrrisions ale recognised vknere the charity has a present obligation resultin9 Irom a p•st
event that ￿11 probably result in ihe transfer of funds to a third party and the amount due to settle the
obligaiion can be measured or estimated reliably. Creditors aad promsions are normally recogni5ed at
their settlement amount after allowin9 for any trade discounts due.
24

Inteynational Network for fvaavanclng Sclence and Policy Ltd
NoTrs to the finantlal statemems
For the year ended 31 Decernber 2025
I . Accountlng pollcles (contlnuerfj
m) Forelgn currencles
Monetary assets and liabilities in foreign CLJrrencies are translaied inio sterling at the rates of exchange
rtiling at the balance sheei dale. Trans3Ctions in foreign currencier are translatod into
tcrSing ar the Jpot
rate on the day of transaction and for USS are then held in the accounts at an average weighied value.
Exchange differences are thken inio account in arriving at rhe net incomin9 resources for the year.
2 Income from char•table ￿1VIlle$
2025
Total
2024
Total
Unrestricted
Re5triaed
Programme work
Swedish Iniernatlonal Developmeni Cooperation
Agency (Sida)
ACU-OCCP (157)
OFS li49}
CGD-Europe (151)
IDRC scaling Care li53)
ACBF-Haus (155)
PEBL Evaluaiion
IDRC-GROW li4512 )
IDRC-GROW li4513}
UNICEF-GESP li50)
li521
ESSA li60)
Templeton {i611
PWC - {FCDO Evidtnce Fund) (1621
NORAD li63)
SPS Evidence Use (165)
3ie RCC 1168)
IGAD FSRP 11671
NIHR {i661
303.677
303.677
320.000
22.986
22.986
48.003
11.723
7,850
19.019
20.104
24.750
17.388
10.393
14,500
1,298
17.320
52.473
39,921
6.058
3.797
14.141
65,678
14.141
65.678
{8.6761
8.676
158.686
399.585
354.807
158.686
399.585
354.807
7.655
7.102
10.984
24.599
7.655
7.102
10.984
24.599
Sub-total for other programme work
153.145 1.208.079
7.361.224
724.597
Other Income
Total income from programme work -
153.145 1.208.079
1.361.224
724.597
In the previous year income from charitable activities of £447.138 w45 restricted.
2S

Forth¢y¢¥Ènd¢4 31 DÈ<¢rthi2025
Ja
1015Tqid W?4Tot
*3-
Staff ¢osrs
FvTrynExEh¥
45.￿1
140.9
13.37
SGQ.556
4225
102.151
76.931
129.
Izi.Mo
lifets
305.4
11.654
1.201.469
Suppkrtcwtl
3&9$9
zo.I
1131.3
Tw1 E¥p¢r•kwt 2015
2￿.109
)44.577
331.540
324.105
JJÈI
IF).XEO
152.826
113.
RÈ5vI(tEd
275.1
141.577
316.540
Jwi
l.Dl7,611
461.505
T￿￿EX￿￿￿￿vnzq25
2T5.1O9
>3&540
3311
113.16D
852.826
26

Internatlonal Net￿rk for Advanang Sde1￿ and pol￿ Ltd .
Note5 tD ihe finan(i•l ststtmtttts
For the year ended 31 December 2025
3b knaly51s of exptndlture- Pr￿0￿5 ￿ar
1024 Totsi
The s*￿1$h
Iniemational
Cooperation
4ency
aCtTr7t￿S Other re5tiithd
(&dal I￿n￿St￿Cte&fr
funds
GL￿M3￿ce costs
5iaff cos
Foreign &¥chan
Prograrnme delfvery c05t5
171.474
65.679
53.884
291,037
,377)
560.566
4,225
375
13.37n
265.004
14S.067
103.40S
47.0
4,225
375
8oard expense5
Depreciation
316.541
169.OU4
100.974
4.600
261.627
8S2.826
Support rosrs
217.637
43.990
1261.627)
Go¥ernance costs
14.6001.
TO¢￿ Èxpenditure 2024
a16,S41
391.321
14.964
852,826
27

rnatlonal Network for Pthanckn9 ScknKe and p￿kY Ud
For ihe year Qndad 31 Decefflb•r 2025
Net *KOn￿nY resour(es Wor thE
Thls Is Stai*d •ftew chaf9in9 1 (ctydiiir4).'
2025
2024
Operatii1912a5e Tert￿5".
Propemf
Auditors. ¥ernunera¢ion <exduding VAT)..
Audit
Other 5eMces
Fortl9n ExchaThJe 1055ts 1 (9aihS)
4.320
4.225
3.500
An•fy51s of sTaff £•s15. Tfu5tw and eMper15es. and tht ttsst of kry
managem•nt p*rs•Dn•l
2025
2024
Siaff cosis iyere as foltw.
Salaries and wages
Redundancy and temiinatlon costs
So(iat security <oSt5
Emptoyei's Conthbytion i• defined rorttwiblrtkpn pEns￿n sthenx5
orher forms of eryloytt bentfirs
Other staff C¢Jst5
440.339
362.404
35.912
31.641
Z4.B08
13.475
20.876
40.865
26.141
10.242
517.517
489.116
The fokn%in9 number of receiTrtd bEnefrt5 (eKluthny ernployer penslon ros15) durln9 the
year betsveen..
2025
2014
E60.001 - £70.000
£70.001 - £80.000
£80.1)01 - £90.1500
The tot41 ernployee beoefils Including pension contributlOn5 and empt1￿￿$ p41 of ihe key management
personnel were É98.664 12024.. 132.938).
The charlty ttuslees wore twr paid 01 roc*i¥ed aThy oiher tstfftrfi￿ frorn empiwMEftiwirh ihe tha￿TY In rheyear"
12024.. £nlD. Plo rrustees Fe<ervEd payfft*rti for profess￿n￿ setvi¢es sup￿Ie¥J to the thor*ty IZ024. none).
Tw51ees' expenses ￿preSentS ihe paymenr or telmbursefflenr of travel and 5ubslstence costs iotallln9 É4.478
(2024= £57) Incurred kn'six r2O24'. one) mernbEr5 retating io attendance at rnettings of the trustees.
The avera9e number of employees Ihead couni based on Dufflberof staff ernplryedj duriThJ thE yeUV•a5 a5
l•llrwis=
2025
2024
Programme vlork
Support
Related parw iran5aalDhs
Durln9 th* y*ar. no payrThents or <OnLrnaS wer* awatrded to rel*ed partles.
There •¢t no rf•fiaiiOnS from f*l*<d p•rtks which wtslde the normal rouwst of buSI￿sS and M resirfotd
donaiions from related parties.
28

INt•rMtlDThal Netsvork forAd¥anckng SclerKe and Polky Ltd
N¢¢t5 to the ftnandal 5ratements
For the year eThlÈd 31 ￿¢eMber 2025
Taxaiion
The charitable company Is exempt from corporation tax as all its I￿lme is charitabl¢ aThd is applied for
charitable puwposes.
Office
equipment
Tanglble flxed assets
C05t
At Ehe start of tht yeat
Addition5 in year
D15posals in ye
Total
3.940
3.940
At the eThd of the
3.940
3.940
Deproclaiion
Ar ihe start of the ypar
Charye for the year
Elimlnated on dSsposal
Al Ihe end of ihe ￿ar
Net btsok value
At end ofthe
3.940
At the start of thè year
All of the abo¥E.assets are used fof (h*iThble purpose5.
10 Debtors
2025
2024
Trade ¢Jebtors
OfheT debtors
VAT
Pr¢payments
184.27Z
27.980
18.940
5.946
231.192
11,497
I I Credltor5: ￿11￿9 wlthln
2025
2024
Trade creditofs
Taxation and socSal se<uiity
A(CTuals
Deferred incorne
66.616
63.174
Zl.065
356,108
19.541
32.182
7.196
394.386
506.963
453.305
12 Oeferred lficom*
Oeferred incornt comprises funds re¢eived Èn athaftce ot the expendifurt they ielate w bÈing made.
2025
2024
Balance ai ihe beglnning of the year
Amount velea5td to income in ihe year
Amounr deferred in ihe year
394.386
1394.3861
356.108
17.388
(17.386)
394.386
8al4nre at fhe end of year
356.108
394,386
29

Fortheytarondod JI DKernber2025
The charilablt ¢omp•tyoptr¥es 4 ￿t50￿&1 ponsion plan fortho benifit olits
e￿￿OyeES, and makes pa￿llent5 fo other dtfined ¢ontnbufbon s<hen*s 14rtrnp￿YetS whD are *ot
mombers *l*he 9ioup scherne. Pen$￿Tr <tsStS art lecw1s￿ in Tht mmth in tht rtlated pa¥roll paymert5
14 R•¢•nditswqn ofnetlA(•fflel(expnthre) W Mtosh Il•w lrnffl optv¥lw
2•25
2024
173.537
(121.08TI
Doprod•rioTr ¢haiges
Inrve5t rEcelvable
IlnCrEa5e)Idocrus4 In dtbtQf5
kn¢rwelldeue4>el In <redlTofs
(13.7851
(219.69
53.658
19.452
385.271
Ilet¢a5h pr•¥lded trrfl(tss*d lfi) acikrfves
(62851
276.497
15 ATh*>ls vf r45h •Trdash
At31
AI I J￿￿ary
2025
Cash 11ty*s
2DZ5
Cash lfy
647.212
7.500
65dJ.7
T4th1 ush and ushaq¢d¥31*1115
647282
7.500
6S4.782
for 2025. Q024.' non¢)
17 L49af SEaEUS olth charlty
Tht Cknar￿ 6 4 cofflpany bmhod •d hos no cap*al. The l+abllityolwh rnornbev In tht
Ai tht starr
ltheyur
Losses Atth••rA
ansf•rs
th•￿ar
' Cuwrortyear
Incornt ￿K￿ndilur
Unrnsirfciod lufids
166.930
240 651
187.S8l
166.930
(1138￿)
240 651
the Stwt
fth¢v
ioJse> Arthe ènd pl
¢wMslerS
IhE yeir
Pr￿10￿5 year
g•hval fun
310544
284.601
162431
Toul unrenrkied gontral fvnds
310.544
284.601
30

For th*￿v￿Ad￿4)I I)￿rnherI015
Al the ilaii
Losses
1.4$9
tl.434
Q75.lO6
Jl,027
1.626
TryS¢llS*
.676)
IOPC (N5-
151.617
399.565
3$4.Wl
10.1•9
65.041
30.701
- IKCKJ fun4J ￿￿>
35.541)
17.B93
1.10•.•79 11.OR7.51
iji.)
ArthE
L•sse5 ATfh of
Ae51rtctq4 fund¥.'
3lQ.OQ
3.459
14.434
KoryaYMJVeTFuII052J
IDRC 045-21
16.017
17.1
$1.4?3
(ZZ.7691
4.7$0
4.tgj
6.Q51
.>Tn
1461.5051
1$.Z43
rot *offl•n (Gth) E451Alrk• Pr.09￿￿￿¢.
TeL￿p￿tO￿O61j. ￿rtaINUts fprllPETh P45o*tthknEastA&kL" to .
(FCtK) Evid*Mct Fuftéj U611- ￿MIr￿oIS to ros*ar¢h
that rewjtrts témffpJrtlry nt4ds.
?￿A￿￿31- Equ1￿￿5 r¢5¢￿11$ t• s￿￿￿￿." iWear¢h
4t M0W¥r•nTs￿5 knAltk•.
tyts4f+kfrr5
t1￿￿le fixed
396.Y06
.419.061
1350.708)
•45.974
1506.963)
130.360
Fund5
7atsl FvrAs
423.861
650.719.
170.517>
TrAal
164.4Ql
41.IlY>
OS.174
31