**REGISTERED CHARITY NUMBER: 1157564** 

## **INSPIRASIA FOUNDATION UK** 

**REPORT OF THE TRUSTEES AND** 

**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** 



**INSPIRASIA FOUNDATION UK** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to 9|
|**Independent Examiner's Report**|10|
|**Statement of Financial Activities**|11|
|**Balance Sheet**|12|
|**Cash Flow Statement**|13|
|**Notes to the Cash Flow Statement**|14|
|**Notes to the Financial Statements**|15 to 19|
|**Detailed Statement of Financial Activities**|20|





## **INSPIRASIA FOUNDATION UK** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022** 

The trustees present their report with the financial statements of the charity for the year ended 30 June 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES** 

## **Profile** 

Inspirasia Foundation is a **grant-making** foundation dedicated to funding and supporting exceptional projects in **health and education** for marginalised communities and persons with disabilities. The foundation aims to **give strategically** and to work with grantees to be more effective and efficient, leading to more impact and long-term sustainable growth. By sharing the best practices, knowledge and expertise, the foundation also aims to inspire others to give and to give well. 

## **1. Mission** 

To fund and support exceptional social initiatives by giving strategically and working hand in hand with local organisations to ensure impact and long-term sustainable growth. To inspire others to give and give well. 

## **2. Vision** 

To become a leading philanthropic organisation that works with a more than money approach to grant making, so money is given and spent in the best possible way. To inspire others to learn from and utilise our knowledge in order to give and to give well. 

## **3. Core Principles** 

- We will give strategically and work with grantees to be more effective and efficient. 

- We will provide guidelines for grantees to ensure better control and reporting, as well as work with them to achieve maximum impact and sustainability. 

- We will inspire others to give and to give well, by sharing the best practices, knowledge and expertise. We will provide guidelines to implement this approach. 

- We will provide opportunities for donors to give by identifying organisations or projects that fit with their motivations and commitments. 

## **4. How the achievement of the charity's aims will further its legal purposes.** 

a. The annual report with charity's achievements are in line with the charity's constitution and therefore furthers its legal purpose. 

b. All achievements and core principles are in line with the charity's objects as stated in the constitution. 

Page 1 



## **INSPIRASIA FOUNDATION UK** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022** 

## **OBJECTIVES AND ACTIVITIES** 

## **5. The charity's strategies for achieving its stated aims and objectives.** 

a. Provide capacity building and non-financial support to help our grantees grow and be more efficient and effective to improve their sustainability and impact. We do this through partnerships with entities like the Annika Linden Centre 

- b. Grants go towards sustainability and impact 

- c. Ensure the money given is spent well and achieves the intended impact 

d. By inspiring other businesses and philanthropists we ignite a fire and can have more impact and social change 

e. At the Board Meeting held on the 15th December 2021, the Foundation's Strategic Review was shared and ideas on how to develop the strategy was discussed. It was agreed that an Internal review needs to be carried out to understand what the Foundation has achieved, to understand if we're giving well, and review our grant-making process. 

## **6. The criteria it uses to assess success in achieving goals.** 

- a. Grant agreement includes all necessary requirements for grantees and the Charity 

- b. Financial management and reporting - budget vs actual 

- c. Impact measurement tools - provided to grantees to be able to M&E and measure the impact achieved from the grants given 

- d. Annual reports 

- e. SWOT analysis 

- f. Board meeting updates 

- g. Risk assessments through a risk matrix 

## **7. Significant activities undertaken and how they contribute to the achievement of its aims and objectives.** 

a. In 2021 7 charities and a social initiative were supported. For this reporting period the 2nd tranches of their 2021 grants were given and completed. 

b. In 2022 5 charities and a social initiative were supported. For this reporting period the 1st tranches of their 2022 Grants were given and completed 

- c. Non-financial support to all grantees through the Annika Linden Centre. 

## **8. Understanding long and short term goals of the charity.** 

- a. Long term Goals 

- i. Focusing on grant making in Indonesia only - to be more focused and create more impact. 

- ii. Looking ta the sustainability of our Giving and how to support our partners for them to be more sustainable and get further support 

iii. Partnership Programme - inspiring others and supporting organisations through other donors 

- iv. Strategic review - understand the direction of the charity and create a 5 year plan in 2022. 

- v. Focusing on Fundraising Strategies, Succession Plans and management. 

- b. Short-term Goals 

- i. GBP600,000 - 400,000 given in grants yearly. 

- ii. Principles and Procedures reviewed yearly. 

iii. Two Board Meetings yearly. 

- iv. Impact Measurement - measuring the Charity's impact in more detail. 

- v. Working towards sustainability of our grantees and of the charity itself. 

- vi. Continue partnering with Annika Linden Centre. 

vii. Working hand in hand with our grantees. 

viii. Create an internal review to understand if the Foundation gives well and how to improve on sustainability and impact. 

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## **INSPIRASIA FOUNDATION UK** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022** 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and Activities for the Public Benefit** 

The purpose of the CIO is to provide positive impact on disadvantaged societies and in particular promote advancements in areas of health, education and poverty alleviation. The charity is established to support non-profit organisations that create opportunities such as those that provide scholarships, assist with finding new jobs and rehabilitation. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the grant making policy for the year. 

The work the charity does is beneficial as it ensures that disadvantaged communities are empowered and are provided with the opportunities that allow them to reach their full potential. Yearly we are able to reach thousands of persons that face challenges, come from disadvantaged backgrounds or have a disability. Without this necessary support they would not be able to live independently, with dignity and have chance to better their lives. 

The Charity carries out these objects by: 

Supporting exceptional local charities that work at grass roots levels providing support to disadvantaged communities. 

Supporting the Annika Linden Centre, an incubator for impact and a centre for excellence for persons with disabilities, allowing them to come to one place to get assistive devices, rehabilitation, education and also find employment. 

Supporting organisations that focus on improving the quality of education, providing scholarships to children from poor families and training. By receiving useful skills, they are able to get employment and improve their quality of life. By supporting these organisations the charity and grantees aim to break the cycle of poverty through education, empowering not only the children but their families and the communities too . 

Supporting organisations focusing on health. The charity believes that without strong and healthy people, communities are not able to move forward, be empowered and support each other. We are as strong as the people within our communities so we should ensure health services are readily available and accessible. 

All the grantees we support work on the ground to ensure the empowerment of individuals and communities in order to improve their quality of life, have a fair chance in life, increase their economic opportunities and live in a dignified way. 

By focusing on these areas we achieve our strategic priorities of creating a positive impact on disadvantaged societies and in particular promote advancements in areas of health, education and poverty alleviation. By working hand in hand with our grantees we not only ensure that the funds given are spent well and have the most impact but also to support our grantees to be more efficient and effective to have more impact and long-term sustainable growth. 

Page 3 



## **INSPIRASIA FOUNDATION UK** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022** 

## **OBJECTIVES AND ACTIVITIES** 

## **Grantmaking** 

The Charity has established its grant making policy to achieve its objects for the public benefit to improve the lives of disadvantaged societies. The grant making policy is reviewed annually to ensure that it reflects the charity's objects and thereby advances public benefit. 

## **DECISIONS TAKEN IN 2022** 

As was communicated and planned for in 2022, the Foundation took a decision to stop supporting East Bali Poverty Project. Their final grant will be given in 2022. Unless approving any underspending, the Foundation, expects to get their Final Annual Reports for 2021 and 2022 and audits and will close off funding for this organisation for the time being. 

Stella's Child Foundation, also had their final grant in 2021, with an agreement to stop funding them following 2021, as per Grant Package and exit strategy. Therefore, no grant was given in 2022. 

Inspirasia Foundation has committed to follow up with this organisation to share best practices and to also find ways to offer in-kind support to still be able to assist them going forward. 

The Organisation Yayasan Rama Sesana (YRS) approached the Foundation in 2022, to express that it no longer wanted support from the Foundation as they did not have plans to continue to grow and continue the work they are currently doing. The Trustees agreed to continue discussions with the Director and understand the situation, in case the situation might change in the future. 

For this reason, Inspirasia's Grants for 2022 decreased. 

It was also discussed and agreed that in 2022 the main systematic areas to continue discussing are: 

- Succession Planning 

- Funding Dependency 

- Grantee Philosophy (Intervention vs Partnership) 

- Advocacy Capabilities 

- ALC - Start-up Hub or permanent home? 

- Exit Process 

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## **INSPIRASIA FOUNDATION UK** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022** 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Achievements and Performance** 

Inspirasia Foundation aims to fund and support exceptional social initiatives by giving strategically and working hand in hand with local organisations to ensure impact and long-term sustainable growth. 

Inspirasia Foundation UK's reporting year is from July 2021 to June 2022. Indonesian grants are for the period of January to December of any year. Therefore, this report covers the second half of their 2021 and the first half of their 2022 grant period. 

In 2021 seven (7) charities and a social initiative continued to be supported. While in 2021 a decision was taken to support five (5) organisations and a social initiative. All with a focus on education, health and/or disability 

||||**Tranche given for this**|
|---|---|---|---|
|**Organisation**|**Country**|**Category**|**period**|
|Yayasan Rama|Bali, Indonesia|Health (Women's)|2nd Tranche 2021|
|Sesana (YRS)||||
|Yayasan Ekoturisme|Bali, Indonesia|Education/Health|2nd Tranche 2021|
|Indonesia (East Bali|||1st Tranche 2022|
|Poverty Project)||||
|Yayasan Stella Anak|Bali, Indonesia|Education|2nd Tranche 2021|
|(Stella's Child)||||
|Yayasan Kemanusiaan|Bali, Indonesia|Education|3rd & 4th Tranche 2021|
||||1st  & 2nd Tranche|
|Ibu Pertiwi (YKIP)|||2022|
|Yayasan Peduli|Bali, Indonesia|Education / Health /|2nd Tranche 2021|
|Kemanusiaan (YPK)||Disability|1st Tranche 2022|
|Yayasan Puspadi Bali|Bali, Indonesia|Disability /|2nd Tranche 2021|
|(Puspadi)||Education|1st Tranche 2022|
|DNetwork (Social|Bali, Indonesia|Disability/|2nd Tranche 2021|
|Initiative under PT||Employment|1st Tranche 2022|
|Inspirasia Bali)||||
|UCP Roda Untuk|Jogyakarta,|Disability/|Full Grant 2021|
|Kemanusiaa (UCP)|Indonesia|Advocacy|Full Grant 2022|



## **Capacity Building - More than Money Approach** 

Inspirasia Foundation UK believes that it takes more than money for social change. An organisation needs to be efficient and effective in order to generate and scale social change. For this reason our grants are packaged with non-financial support through capacity building, trainings and support from the Foundation's advisors and Annika Linden Centre. In 2021 and 2022 ALC continued to work with Inspirasia's grantees on their contingency plans, Monitoring and Evaluation and worked closely with all organisations on their financial management. Annika Linden Centre also started working with them on Fundraising Strategies and Succession Plans. Quarterly meetings were also held to get updates, support and see what further consultancy was required. 

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## **INSPIRASIA FOUNDATION UK** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022** 

Annika Linden Centre team works closely with the charity's grantees and supports them through the grant making process and also to ensure they get through these unprecedented time. This allows growth, efficiency and ensuring funds are spent well. A number of other trainings were provided by the Annika Linden Centre through their NGO training series. 

## **External factors** 

COVID-19 and Government restrictions in grantees respective countries continued to pose challenges for organisations and their programmes. While a lot of organisations were innovative and turned to online services, managing to continue reaching their beneficiaries and provide their services, it was still noticeable that impact reduced compared to face to face services. A meeting was held with the Trustees and grantees in July 2020 to understand their plans, challenges and how their operating during COVID and restrictions. It was a productive meeting and help the Foundation understand how to work closer with each organisation. Quarterly meetings were held to continue working with Grantees and support them where possible. 

Board Meetings were set up in July 2020, September 2020, December 2020 and March 2021 to discuss the progress, challenges and updates from the Foundation's Grantees. All points can be found in the Board Minutes. 

## **FINANCIAL REVIEW** 

## **Financial position** 

1. Review of the charity's financial performance for the period and financial position at the end of the reporting period as can be found in this document. 

2. The principal funding sources of the charity and how they support the key objectives set by the charity. 

- a. Mark Weingard is the charity's main donor 

3. Any significant future factors that will affect the future financial position of the charity. 

- a. A decision was taken in 2022 to stop supporting the organisation, Yayasan Rama Sesana. 

- b. Stella's Child Foundation received their final grant in 2021. 

- c. East Bali Poverty Project will receive their last grant in 2022. 

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## **INSPIRASIA FOUNDATION UK** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The Charitable Incorporated Organisation (CIO) is a registered charity, number 1157564, and is constituted under a deed last amended on the 8th January 2014. The history of the CIO is connected to the tragic loss of Mark Weingard's fiancée, Annika Linden. Devastated by his loss, Mark was inspired to help those affected by the bombings. And so, his philanthropic journey began. Since then, there was a realisation that organisations need to be efficient and effective to create real social change and the idea to give strategically and through a more than money approach developed. The CIO was created to provide better governance and structure and to create a charity that gives well and inspires others too. Today it has grown into a leading grant-making foundation, which funds and supports exceptional projects in health and education for marginalised communities and persons with disabilities, while inspiring others to give and give well. Over the years Mark Weingard has made substantial gifts to the charity. The charity does not actively fundraise and seeks to continue the charitable work desired by the donor through a proper grant-making process supporting grantees to grow into sustainable organisations creating long-term impact. 

## **Trustees** 

New trustees are appointed by the existing trustees and serve for three years after which they may put themselves forward for re-appointment. The Deed provides for a minimum of 3 trustees. Trustees are appointed by a resolution passed at a meeting of the charity trustees. Trustees must be chosen based on their experience, skills and knowledge that will contribute to the charity's objectives and effective administration of the charity. 

The current Trustees are Philip Bergman, Miles Webber and Mark Isaacs. 

In the Board Meeting held on the 15th December 2021. It was agreed that their designations would be as below and a clear understanding of the different roles and responsibilities were shared. 

Miles Webber - Chairperson Phil Bergman - Treasurer Mark Isaacs - Secretary 

At the bi-annual trustees' meetings, the trustees agree the broad strategy and areas of activity for the Charity, including consideration of grant making, governance and risk management policies and performance. Updates on the grantees, their impact and achievements are shared and decisions for the following years including strategy and financial decisions are discussed and approved. It has also been approved in the Board Meeting on the 15th December 2021 that meetings will try to be held in June and October of each year 

Assisting the trustees, the Annika Linden Centre's Managing Director and other advisors meet at least quarterly, prior to the main trustees' meeting, to consider new grant applications fulfilling the relevant criteria and make recommendations for funding. While also reviewing grantee's annual reports, mid-year reports and provide any non-financial support and capacity building to the grantees. They also consider the monitoring information concerning the performance of grants to date, and make recommendations to the trustees concerning the conditions, extension, cessation or suspension of existing grant approvals. The Annika Linden Centre also provide additional consultancy and financial management to the Charity for all its grant-making process and to the charity's grantees to ensure money is spent well and creates the most impact, along with working towards sustainability. 

Page 7 



## **INSPIRASIA FOUNDATION UK** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Risk management** 

The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. A Risk Matrix was conducted in 2019 and will be reviewed yearly. 

A SWOT analysis on all grantees and also on the Charity was conducted and will provide as a foundation for any strategic reviews that will take place. These procedures allow for the Trustees to be aware of any risks, concerns and challenges that the charity or its grantees are facing and will be able to work with the Advisors to mitigate or plan for. 

An internal review was also conducted in 2022. This allowed the Foundation to review Inspirasia's grant-making process, to assess our objectives, to analyse the results achieved and to consider any changes or improvements in our processes and methodologies that may be necessary to enable us to achieve measurable and more significant impact. 

Although COVID-19 did improve, it still imposed some concerns on the charity and its grantees. Quarterly meetings continued to be held with the charity's grantees to ensure that they had the support and guidance they needed. The advisors and the grantees worked together to develop fundraising strategies for the organisations to look at long-term plans on increasing their Other Source of Funding. The trustees have acknowledged the continuous and impressive work done by the grantees during these challenging times and following. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 

1157564 

## **Principal address** 

126 Archbishop Street Valletta VLT 1444 

## **Trustees** 

M Isaacs P Bergman M Webber 

## **Independent Examiner** 

Rushtons Chartered Accountants Shorrock House 1 Faraday Court Fulwood Preston Lancashire PR2 9NB 

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## **INSPIRASIA FOUNDATION UK** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022** 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Advisers** 

CAF Bank 25 Kings Hill Ave Kings Hill West Malling ME19 4JQ 

Corren Troen Law LLP 35 Catherine Place London SW1E 6DY 

**28/04/2023** Approved by order of the board of trustees on ............................................. and signed on its behalf by: 


.......................................................... M Isaacs - Trustee 

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## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INSPIRASIA FOUNDATION UK** 

## **Independent examiner's report to the trustees of Inspirasia Foundation UK** 

I report to the charity trustees on my examination of the accounts of Inspirasia Foundation UK (the Trust) for the year ended 30 June 2022. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 

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

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 


Adam Calvert ACA 

Rushtons Chartered Accountants Shorrock House 1 Faraday Court Fulwood Preston Lancashire PR2 9NB 

02/05/2023 

Date: ............................................. 

Page 10 



## **INSPIRASIA FOUNDATION UK** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>Investment income<br>3<br>**Total**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>4<br>Grants to Institutions<br>Other<br>**Total**<br>**NET INCOME/(EXPENDITURE)**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|2022<br>Unrestricted<br>fund<br>£<br>386,680<br>14<br>386,694<br>354,946<br>19,713<br>374,659<br>12,035<br>149,671<br>161,706|2021<br>Total<br>funds<br>£<br>166,924<br>-<br>166,924<br>473,691<br>16,753<br>490,444<br>(323,520)<br>473,191<br>149,671|
|---|---|---|



The notes form part of these financial statements 

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## **INSPIRASIA FOUNDATION UK** 

## **BALANCE SHEET 30 JUNE 2022** 

|Notes<br>**CURRENT ASSETS**<br>Cash at bank<br>**CREDITORS**<br>Amounts falling due within one year<br>9<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>10<br>Unrestricted funds<br>**TOTAL FUNDS**|2022<br>Unrestricted<br>fund<br>£<br>163,927<br>(2,221)<br>161,706<br>161,706<br>161,706<br>161,706<br>161,706|2021<br>Total<br>funds<br>£<br>151,832<br>(2,161)<br>149,671<br>149,671<br>149,671<br>149,671<br>149,671|
|---|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: **28/04/2023** 


............................................. M Isaacs - Trustee ............................................. M Webber - Trustee 


............................................. P Bergman - Trustee 

The notes form part of these financial statements 

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## **INSPIRASIA FOUNDATION UK** 

## **CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2022** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net cash provided by/(used in) operating<br>activities<br>**Cash flows from investing activities**<br>Interest received<br>Net cash provided by investing activities<br>**Change in cash and cash**<br>**equivalents in the reporting**<br>**period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the**<br>**end of the reporting period**|2022<br>£<br>12,081<br>12,081<br>14<br>14<br>12,095<br>151,832<br>163,927|2021<br>£<br>(323,520)<br>(323,520)<br>-<br>-<br>(323,520)<br>475,352<br>151,832|
|---|---|---|



The notes form part of these financial statements 

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## **INSPIRASIA FOUNDATION UK** 

## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2022** 

## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|**Net income/(expenditure) for the reporting period (as per**<br>**the Statement of Financial Activities)**<br>**Adjustments for:**<br>Interest received<br>Increase in creditors<br>**Net cash provided by/(used in) operations**|2022<br>£<br>12,035<br>(14)<br>60<br>12,081|2021<br>£<br>(323,520)<br>-<br>-<br>(323,520)|
|---|---|---|



## **2. ANALYSIS OF CHANGES IN NET FUNDS** 

|**Net cash**<br>Cash at bank<br>**Total**|At 1.7.21<br>Cash flow<br>At 30.6.22<br>£<br>£<br>£<br>151,832<br>12,095<br>163,927<br>151,832<br>12,095<br>163,927<br>151,832<br>12,095<br>163,927|
|---|---|



The notes form part of these financial statements 

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**INSPIRASIA FOUNDATION UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

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## **INSPIRASIA FOUNDATION UK** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022** 

|**2.**<br>**DONATIONS AND LEGACIES**<br>2022<br>£<br>Donations<br>386,680<br>**3.**<br>**INVESTMENT INCOME**<br>2022<br>£<br>Deposit account interest<br>14<br>**4.**<br>**CHARITABLE ACTIVITIES COSTS**<br>Grants to Institutions<br>**5.**<br>**GRANTS PAYABLE**<br>2022<br>£<br>Grants to Institutions<br>354,946<br>**6.**<br>**SUPPORT COSTS**<br>Governance<br>Finance<br>costs<br>£<br>£<br>Other resources expended<br>538<br>19,175|2021<br>£<br>166,924<br>2021<br>£<br>-<br>Grant<br>funding of<br>activities<br>(see note<br>5)<br>£<br>354,946<br>2021<br>£<br>473,691<br>Totals<br>£<br>19,713|
|---|---|



## **7. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 30 June 2022 nor for the year ended 30 June 2021. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 30 June 2022 nor for the year ended 30 June 2021. 

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## **INSPIRASIA FOUNDATION UK** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022** 

|**8.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Grants to Institutions<br>Other<br>**Total**<br>**NET INCOME/(EXPENDITURE)**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED**<br>**FORWARD**<br>**9.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>2022<br>£<br>Other creditors<br>2,221<br>**10.**<br>**MOVEMENT IN FUNDS**<br>Net<br>movement<br>At 1.7.21<br>in funds<br>£<br>£<br>**Unrestricted funds**<br>General fund<br>149,671<br>12,035<br>**TOTAL FUNDS**<br>149,671<br>12,035|Unrestricted<br>fund<br>£<br>166,924<br>473,691<br>16,753<br>490,444<br>(323,520)<br>473,191<br>149,671<br>2021<br>£<br>2,161<br>At<br>30.6.22<br>£<br>161,706<br>161,706|
|---|---|



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## **INSPIRASIA FOUNDATION UK** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022** 

## **10. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|386,694|(374,659)|12,035|
|**TOTAL FUNDS**|386,694|(374,659)|12,035|
|**Comparatives for movement in funds**||||
|||Net||
|||movement|At|
||At 1.7.20|in funds|30.6.21|
||£|£|£|
|**Unrestricted funds**||||
|General fund|473,191|(323,520)|149,671|
|**TOTAL FUNDS**|473,191|(323,520)|149,671|
|Comparative net movement in funds, included|in the above are as|follows:||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|166,924|(490,444)|(323,520)|
|**TOTAL FUNDS**|166,924|(490,444)|(323,520)|
|A current year 12 months and prior year 12 months combined position is as follows:||||
|||Net||
|||movement|At|
||At 1.7.20|in funds|30.6.22|
||£|£|£|
|**Unrestricted funds**||||
|General fund|473,191|(311,485)|161,706|
|**TOTAL FUNDS**|473,191|(311,485)|161,706|



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## **INSPIRASIA FOUNDATION UK** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022** 

## **10. MOVEMENT IN FUNDS - continued** 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>553,618<br>553,618|Resources<br>expended<br>£<br>(865,103)<br>(865,103)|Movement<br>in funds<br>£<br>(311,485)<br>(311,485)|
|---|---|---|---|



## **11. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 30 June 2022. 

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## **INSPIRASIA FOUNDATION UK** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Donations<br>**Investment income**<br>Deposit account interest<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Charitable activities**<br>Grants to institutions<br>**Support costs**<br>**Finance**<br>Bank charges<br>**Governance costs**<br>Subscriptions<br>Accountancy and legal fees<br>Consultancy<br>Total resources expended<br>**Net income/(expenditure)**|2022<br>£<br>386,680<br>14<br>386,694<br>354,946<br>538<br>749<br>1,200<br>17,226<br>19,175<br>374,659<br>12,035|2021<br>£<br>166,924<br>-<br>166,924<br>473,691<br>620<br>-<br>990<br>15,143<br>16,133<br>490,444<br>(323,520)|
|---|---|---|



This page does not form part of the statutory financial statements 

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