Inspiration Incubator CIO ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 August 2022 Registered charity number 1195241 Inspirational Incubator Reglstered Charlty No. 1195241 TRUSTEES. REPORT AND FINANCIAL STATEIIJENTS FOR THE YEAR ENDED 31 AUGUST 2022 CONTENTS Pagg Legal and Administrative Details Report of Trustees 8-9 Independent Examinerfs rewrt 10 Balance Sheet 11 Statement ot Financial Acbvibes 12 Statement of Cash IkAv 13-15 Notes to the Accounts Insplrational Incubator Registered Charity No. 1195241 ORGANISATIONAL PROFILE FOR THE YEAR ENDED 31 AUGUST 2022 TRUSTEES Nicote Bartw Regner-Bleylei Maximilian Regner-Bfeyleben Catherine Mcsweeney REGISTERED OFFICE: 8&90 Paul Street London EC2A 4NE ACCOUNTANTS: Chades Osei. Bsc {Hons). Msc, ACIE. AF& ATA, MIPA, MCIPP Unrt 1, BaWour Busine￿ Centre. 39(k392 High Road, Ilford London IG1 1 BF Inspiration Incubator CIO TRUSTEES ANNUAL REPORT For the year ended 31 August 2022 Introduction The trustees are pleased to present their annual report together with the financial statements of the charity for the period ending 31 August 2022, its first year of operation. Reference & Administrative Details Charity name: Registered charity number. Registered address: Inspiration Incubator 1195241 86-90 Paul Street. London EC2A 4NE Structure. Governance and Management Inspiration Incubator {the 'ChariV) is a Charitable Incorporated Organisation (CIO) founded on 21 July 2021 and govemed by its Fouridation Constttution, as amended on 18 January 2022. The Charity provides financing to charitable projects that meet its objectives anywhere in the world. In order to further the Charitrfs charitable purposes and ensure that grants awarded are for the public benefrt. the trustees regularly review and agree its grant-making policy. When making any programme-related inveslments or mixed motive investments the trustees will have regard to the Charity Commission's guidan￿ on investments and the Charity Commission's guidan￿ on Public Benefrt. The Charity is managed by lis trustees: Trustee Name Date appointed End of temi Nicole Barbery Regner-Bleyleben 21 July 2021 20 July 2026 Maximilian Regner-Bleyleben 21 July 2021 20 July 2025 Catherirse Mcsweeney 21 Juty 2021 20 July 2024 Inspiration Incubator CIO TRUSTEES ANNUAL REPORT For the year ended 31 August 2022 Objectives and Artivities Purpose of the charity The purpose of Inspiration Incubator is the advan￿ment of such objects or purposes which are exclusively charitable according to the law of England and Wales in any part of the world. The Charity was establsshed by Maximilian Regner-Bleyleben and Nicole Barbery Regner-Bleyleben, who are the charitys principal donors. The Charty also occasionally re￿iVeS donations from third parties. The Charty provides grants and other forms of financial support to organisations (registered charities, non-profrt organisations. social enterprises and other non- charities) and individuals. In paiticular. the charity seeks to support grass-roots initiatives where its funding will have the greatest impact, including where there are funding gaps that other chariknes do not support, such as core costs. While the trustees will from time to time identify particular areas of focus, the Charity is being established with general charitable purposes to enable the Charity to have maximum flexibility in temis of the projects tt can fund and the activrties it can pursue. The charity trustees have complied with the duty in section 4 of the 2006 Act to have due regard to guidan￿ on public benefft published by the commission. Achievements and Perfornian The trustees agreed at the start of the period that the Charitls initial focus will be on supporting initiatives that focus on on communty buikling, the arts and the environment. in particular- the provision of financial support to initiatives which address environmental challenges and the protection and conservation of the environment. the provision of financial support to initiatives which advan￿ the arts and other creative endeavours but which also focus on advancing education and supporting disadvantaged communities. In the context of these objectives. the Charity made seven grants during the temi, as follows.. Date Project Location Summary Amount Inspiration Incubator CIO TRUSTEES ANNUAL REPORT For the year ended 31 August 2022 8-Dec-21 Cataputta Mexico Film festival FKize for Samuel Marknn Dekjado to fvnd fijrther devek)pment of the film project "Bajo Risco". ' Film festtval prize forcecilia Constanza Pisano to fund ftjrther development including post- production of the film "El Hincha". Contrtbuting to the cost of a full-time fundrai*r for West London artists. studio colleth"ve. USD10.000 2-Dec-21 Catapu Mexico USD5,rx)o 31-Jan-22 lfjndred Studios Quints Esellcia UK GBP30,000 20-Jan-22 Argentina To supwrt the development of a iilot edl￿atIon project and the construction of a ,￿OrnIme￿c, classroom at Quinta Esenrya, an ecology education programme operated by NGO Amartya. To support expansion of a ne￿rk of communities that promote health & healing through craftsmanship, conservation, and contemplation. To supwrt the promotion and policy exploratDn of ideas infomied by lain McGilchrisl's twk The Matter Things. including the development of a podcast series. To establish a regional Afn"can arb"st-in- residen programme that encourages collalx)ratK)n in art music, performance & film. and to fvnd ongoing art education programmes offered by the Mafalala Museum to young people. USD10,000 8-Apr-22 Fathom Trvst UK GBP3.000 21-May-22 Perspeth'va Press UK GBP10,000 28-May-22 Associa￿0 IVERCA Mozambtque USD20.000 The trustees are pleased WFth the impact achieved so far through some of these grants: Catapulta Film Festival winners: 'Bajo Risco. was later selected as one of 20 projects for a film-residen¢y programme at la Academia de las Artes y las Ciencias Cinematograficas de Espana. It obtained additional finanung from the General Directorate of Culture of the Govemment of the Canary Islands to complete the film. "El Hincha. (also known as -Prodigal Son.) was later sold as a series and can now be on various streaming ser11￿ in Latin America. Quinta Esencia: In August 2022 the foundations. core structure and roof of the new education complex were completed. The building imitates the principles of nature to produce its own renewable energy. by capturing rainwater, having ecological heating and cooling systems and a buitt-in biological greywater treatment system. The building was constructed by a team of people that V￿re part of an ecological construction training programme. The dassroom ￿11 be fully completed by June 2023. The educational programme has been live Sin￿ September 2022, and approximately 1,500 students have participated in their courses which indude." Training in Agroforestry, Pem7aculture, Ecofeminism & Bit￿￿1Vers1ty, Holistic Management and Evaluation of Grasslands. Agroecology & Regenerative Agricutture, Systemic Thinking & Regenerats've Cuttures. Inspiration Incubator CIO TRUSTEES ANNUAL REPORT For the year ended 31 August 2022 Fathom TrusL" Fathom used the grant to secure a commtlment for further funding of £150,000 over a three-year period. It established a partnership with four GP surgeries, built OLrt its delivery team, and set the stage forfour Making Well courses for 2023. The Trust also started a Crafters, Café b*hich has grown to a community of forty people who have been through a Fathom programme. and has sought to raise trading income by offering retreats to 128 medics in the last year. The Trust is now planning to extend Making Well into a deprived community in the Rhondda Cynon Taf area of the Welsh Valleys and to tnal an end-of-lrfe course based on willow Y￿avIng. Perspectiva Press: The funds were used to support the production of a free podcast series featuring lain McGilchrist in conversation with a number of inspired thinkers. McGilchrist's new book The Klatter with Things has been described by Charles Foster of Oxford University as °one of the most important books ever published.. The series examines the relationship between the brain and the world, the ￿ntraIrtY of attention, and - in particular- considers the question: 'Is the way we attend to the worfd itself a moral actv The series is a profound medrtation on lrfe's deepest questions and has far-reaching implications for our understanding of reality, our view of ourselves, and the deep stories on which our civilisation rests. Guests expected to join the onversation with lain this year include Zak Stein, Phoebe Tickell. Bonnitta Roy. Philip Goyal and Ameer Shaheed. Associa￿0 IVERCA: The funds were used to launch the first£ver artists-in-residency exchange programme exclusively targeting Africans and the African Diaspora, hosted at the Mafalala Museum in the Mafalala districl of Maputo, Mozambique. Applicants were asked to prepare work around the themes of citizenship, migration. memory and mutticulturalism. One hundred filty applications were received from all over the continent, of which were from women artists. Given Mafalala's history as a birthplace for musical creation. the judging committee seleded musicians for rts first intake.. (i) Fu Da Siderurgia, a Mozambican beatmaker, sound designer and live performer and (li) Lerato Lichaba, a South African self-tsught guitarist. composer. arranger of folk, Zulu r(Kk, Xhosa funk and mbaqanga & maskandi. The work they produced during their stay include a compilation of musical beats and rhythm$ as a soundscape to accompany the joumey through the Mafalala Museum Spa￿8, as well as poetry recitation embedded in some of the sound-scape sequence. Applications for the 2023 residency are on the theme 'Literature as an example of citizenship and identty affitmation on the outskirts of Mapuio.. Financial Review The trustees present their report with the financial statements of the Charity for the year ended 31 August 2022. As this is the Chaws first reporting year. the reporting period exceeds 12 months. The accounts (financial statements) have b￿n prepared in accordan￿ with the Statement of Recommended Practi￿. Alxounting and Reporting by Charities preparing their accounts in accordan￿ with the Financial Reporting Standard Inspiration Incubator CIO TRUSTEES ANNUAL REPORT For the year ended 31 August 2022 applicable in the UK and Republic of IrelarKI (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Chartties Act 2011 and UK Generally A￿pted Practice as it appltes from 1 January 2019. The accounts (financial ststements) have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provrde a 'true arKI fair view. This departure has involved following Accounting and Reporting by Charities". Statement of Recommended Practi￿ applicable to charities preparing their accounts in accordan￿ with the Financial Reporting StarKlard applicable in UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: ststement of Recommended Practi(t effe(*ive from 1 April 21x15 which has Sin￿ been withdrawn. Fundraising During the year, the Charity raised a total of £100.205. Of this, £82,328 was spent on charitable activities. Of the amount raised, £100.000 was provided by the Chanty's founders and is unrestricted, while £205 was provided by individual donors for the purpose of forest conservation projects in Bolrvia and Central African Republic. These funds will go directly to the local charitable organisations managing the projects on the ground. Financial Review In the accounting year ended 31 August 2022. the Chafity had income of £100.2 and incurred expendttures of £93,814. The administrative costs of £11.485 included legal expenses of £10.955 related to the initial establishment of the CIO. Reserves Policy Inspirab'on Incubator erKled the year with £6.393 in reserves. of which £6,188 is unrestricted. At the year end. the Charity had sufficient reserves to cover any administrative costs in the short teffn. Declarations The trustees dedare that they have approved the trustees, report above. **Inspiration Incubator CIO TRUSTEES ANNUAL REPORT** For the year ended 31 August 2022 This report was approved and authorised for issue by the Board of Trustees on 24 May 2023, and signed on its behalf by: Nicole Barbery Regner-Bleyleben Trustee 7 Inspiratlonal Incubator Regtstornl Charity No. 1195241 INDEPENDENT EXAlalNERE REPORT ON THE FINANCIAL STATEMEpirs TO THE TRUSTEES OF INSPIRATION INCUBATOR I report on the finanaal statements for the ￿ar ended 31 August 2¢)22 set on pages 10- 15 This report is made solely to the Truslees of Inspirat￿al In¢ut0￿. as a tM*, in with regulabons made under se¢tion 145 of the Charities Act 2011 and Charty SORP (frssel. My *Drk has been undertaken so thal I mighl stsle lo the Trustees matters l am required to state to them in an Independent Exarninerfs report and for no other purwse. To the fUl￿t extent perrn￿ed by L7w, I do not ￿pt or assume reswnsibilty to anyone other than the Chanty and Chari¥s trustees for my independent examinatM)n *Drk. for this report, or for the st*ment I hw4e gwen behx. Respethe responsibilities of Tru8tMs and Indopendont •xaminor As Charty trustees. for the purFrf)ses of chanty are resFon&ble for the preparation of the financial slatements, the Trustees consKJer that an audit is not required for this year under sectwjn 14412} of the Charit]es Act 2011 (tr* A¢t) arKI that an indepeThlent examinatK)n ￿ needed. Having sab"sffed myself thal the Charity is rK)I to an audil under company and is eligible for independellt examinatKM. it is my responsibilty to a} examine the xcounts under seraK)n 145 of 2011 kt bl follow the procedures ￿ld in the 9￿[al Diredm￿S given ty the Charty ccwnmiss¥)ne￿ under se¢bon 14515){bl of the 2011 A¢ ar*J cl state whether particu￿r matter5 have come to my attenlKM. Basis of indepondgnt gxamlnerfs statement My examination was carrithj out in a¢cordanc• wth tho gonwal Dir8ctw)ns 9ivan by tha Charity Commi6¥ion. An exarninat￿n includes a revie4V of the accounting records kept by the Chanty, and a comparison of the accounts presented ￿￿th those records. 11 also indudes consKleration of any unusual items or dtsclosures in the accounts and seeking ex￿anatiOnS from you as Trustees conceming any such matters. The prctedures undertaken do not provKle all the eVKIen￿ Ihat w?ukd be requirgj in an audit and consequenvy no opinion is given as to vthether the ￿OUnts present a Irue and frair vivrf artd the reports limited lo those matters set out in the statement on the next page. ## **Inspirational Incubator** ## **Registered Charity No. 1195241** ## **INDEPENDENT EXAMINER'S REPORT ON THE FINANCIAL STATEMENTS TO THE TRUSTEES OF INSPIRATION INCUBATOR** ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: - 1) which gives me reasonable cause to believe that in any material respect the requirements a) to keep accounting records in accordance with Section 130 of the Charities Act; and - b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or - 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Charles Osei, BSc (Hons), MSc, ACIE, AFA, ATA , MIPA, MCIPP Flat 3, 11 Rochdale Way, Deptford London SES 4L Y Date: 26/05/2023 9 Inspirational Incvbator Registered Charity No. 1195241 BALANCE SHEET AS AT 31 AUGUST 2022 2021r22 Currenl Assets Debtors Cash at Bank and in hand 6.393 C￿rtOrS Amount due withinoone Year Net AssetslLiabilities 6.393 Reserve5 General Furtds 6,188 Restrrcted Funds: 205 6.393 The financial statements were approved by ihe Board of Tfustees and authorised for issue on 24th May 2023 and were wgned on its behalf by". Chair Maximilian Regner-Bleyleben 10 Insplrntional Incubator Registered Chaiity No. 1195241 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022 2021122 Unrestricted Restricted Notes Funds Funds Total Funds Resources Arising Donations and Lega￿eS 100.01)0 205 100,205 Other Income Total Income 1CKJ,002 205 100,206 Direct Charftable Expenditure 82,328 82,328 Admlnlstratlve costs 3b 11.485 11,485 Total Expendlthre 93.814 93,814 Resources retsined for further use 6,188 205 6.393 Transfer between Funds Net Movgment in Funds Reconciliations of Funds Brought fopwavd 0110912021 Carried forward 3110812022 6.188 205 6.393 Inspirational Incubator Reglstored Charity No. 1195241 STATEAfjENT OF CASHFLOWS FOR THE YEAR ENDED 31 AUGUST 2022 2022 Cash flows from operating activitie5 Cash generat&J f￿M operations 6,393 Nel cash lusedinllprovided by Op￿￿1ng actNites 6,393 Change in cash and eash equivalents in the reporting period 6,393 Cash and cash equivalents at the beginning of tho rnporting period Cash and cash equivalents at the end of the reporting period 6.393 12 Insplrational Incubator Registered Charity No. 1195241 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 1. ACCOUNTING POLICIES BASIS OF PREPARATION The financial statements of the charitable company. which is a publ￿ benefft enbty under FRD 102. have been prepared in aCOrdan￿ the charib.es SORP IFRS 1021 'Accounb"ng and Reporting by Charibes.. Statement of Recommended Practice appliCat￿e to charitss preparing their accounts in accordance with the Financial Reporting Standard applicable in the Uk and Republic of Ireland IFRG 1021 (effective 1 January 2019}, Financial Reporb"ng Standard 102 The Financial Reporb"ng Stsndard applicable in the UK and Republic of Ireland. and the Companies Act 2rth. The finanual statements have b￿n prepared under the historical cost CLTrnvention. INCOME Al income is prepared in the Statement of Finanaal Activites On￿ the chanty has entsuement to the funds, it is probable that the income wll be re￿Ned and the awK)unt can be measured reltabty. EXPENDITURE Liabilities are recgnised as experienced as sc¥)n as there is a legal 01 Ixjnstructive obligabon commTtknng the charity to that expenditure. rt is probab￿ that a transfer economic benefits wll be required in setuement and the amount of the obl￿atron can be measured reliably. Expenditure is accounted for on an accruals basis and has been cL2ssified under heading5 that aggregate all cost related to the category. Where costs cannot be directy attributed to particukr headings they have been allocated to acts'v￿eS on a basis consistent with the use of reSour￿s. FUND ACCOUNTING The general funds con￿St of funds that the Twstees may use for Inspiration 's charitable Purposes at their discretion. The restricted funds are those where Ihe donor has imposed restricbons on the use of the funds, which are legally binding. Resth"cted funds held in reserve at the end of the year represent irlcome [￿1Ved donors to be spent wthin the following year. Detsils of these fvnds are set oui on the separate schedule in Note. VOLUNTARY INCOME All voluntary income and donati)ns are recognised and included in the accounts as they are received. GOVERNANCE COSTS Include those costs associated with meeling the consbiutional and slatulory requirements of the charity. 13 Inspiwational Incubator R•gistsr8d Charlty No. 1195241 NOTE TO THE AccouKrs FOR THE YEAR ENDED 31 AUG 22 2 INCOhVE FROAI CHARITABLE ACTivmES 2022 2022 2021122 Pknrnilron Regner-8**n 1(K),LUI 11KI.OfX) loo.r￿MI 100,000 3a,b CHARrrABLE ACTJVMES COSTS Direcl Ctbts Support c￿ts {set ryote4) 1588 nots 41 charitab￿A¢t￿it￿5 11.485 4 DIRECTISUPPORT COSTS OF CH￿￿ABLE AcnvmES 2022 2022 2022 ch8rltabl8Ad￿tt￿s Bank fee$ It Sofiware and ConSumab￿S Legal Expenses Postsge. FrevJht & Courier 82.328 175 115 10.955 240 82,328 175 115 10.955 240 Total 93.814 93,814 14 Inspirational Incubator Registered Chaiity No. 1195241 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 5 RECONCILIATION OF (EXPENDIYUREVINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2022 Net lexpenditurellineome for the rewrting per¥JJ las per the Statement of financial activit￿) Adjustment for.. Ilncreaselldecrease in detors Increaselldecreasel in Creditors Not ¢ash (used inllprovided by operations 6,393 6,393 15