Charity Regi5teredNo'. 296284 Scottish Charity NETr.' SC048863 THE LNSPIRE FOLThI)ATIO.S AfqNUAL REPORT FOR THE YEAR ENI)ED 30 APRIL 2024 FLETCHER & PARThIRS CEL4RTERED ACCOL'NT.4NTS CROWN CHAMBERS BRIDC.F. StRf.r.T SALtSBURY THE INSPIRE FOLryDATION ANNLAL REPORT FOR THE YEAR Ef4DED 30 APRIL 2024 Tntst Infortnation iieport of the Trustee5 IndependentAuditoVs Report to the Th￿teeS Statement of Finan¢ial ActAvities io Ba]ance Sheet li Notes to the Finallcial Statenmts 12-18 THE tNSPIRE FOIINDATXON TRUST ThTOILMATJON REGISTERED CHA￿ NUMBEIIS: Charity Comml88ion: 296284 OSCR Scotland: SC048863 BOARD OF TRUSTEES David Reddin MBE LLB (Chairn18n) Mrs Susan Bonett * {￿tIred 31 March 2024) Pnf Emerill￿ Peter Ellaway. BS¢ PhD Mrs Mary Mul]in Mr Chrls Prentice tEtsg MtET' Dr Joi)athan Rudge * PhD Msc (resigned 22 Mav 2024) Dr Richard S￿li￿ MSC FRCP MBBS Bsc (Honsj PGDip SEM Ms Joanne Suddaby-smith BS¢ (Honsl, Msq C.Psychol {re5igned ?1 Jujy 2024) Professor Swain Bsc (Hvns} PhD CEngFIEf cs(i FIPEM{appointtd 9 OctolKr 2024) David TettLpl¢ ' ITrta5urcr fro￿ April 20?4) Mark Thornton. (appointed 9 0￿ber 2024) Robert Tylor Mr Charles R8naboldo • FRCS MS (appointsl 7 August 2023) Mi&s Abbey Wil]iams (apE￿Inted 9 October 2024) Spinal ¢ord injured. DIRECTOR St6phen Croft Bsc MBA TRusf OFFICE INSPIRE Found￿10 DukB of Cornwall Spinal Treaknent C¢ntre Salisbury Dislrict Hospital Salisbury SP2 8BJ REGISTERED AUDITORS Fletchet & Partners Crowi Chambers Brtdge StrEet Saii5bury SPI 2LZ BANKERS The Royftl Bank of Scotlalld 156 High Street SoutlLinJpton S014 2NP THE LYSPIRE FOUYDATION REPORT OF THE TRLSTEF.S FOR THE YEAR E.YDED 30 APRIL 2024 The Thvstees pre5eiit their report with the f￿anCIal statements for the year. which bav¢ be¢n pryp￿ed in a¢¢ordan¢¢ with the counting policies set out on page I I, conwl)ing with the chartst) i ￿t dee(L the Charities Aet 2011, FRS 102, and the Accounting and Reponing by Charities.. Statem¢nt of Recommended Practiee (FRS IQ2). 114ckgroMnd Th¢ IN8PIRE Foundatio￿ an unincorporated association. began opeiatlljg in 1986. Th¢ Foundation is governed by a CoDslitution which was rewritten in 2016 8nd approved by the Charity CoD]rnission on 23rd April 2017, amended on 12th November (Ref No. 396S5). and further gpproved by th¢ Office of S¢ottish Charity R¢gulator on 23rd November 2018. In 2000, INSPIRE Ixcame a merni￿r of the Associalion of Medical Research CbaTities (LMRC) and this de facto 'licence to operate, was r¢n¢w¢d on 2nd September 2021. INSPU(E is also audited (every 5 >ears) by AMRC. Tn 2007 PISPIRE w&$ given p2rtntrship siatus at the National Institute for Health Research INIHR). The Dtreetor and individua15 within the INSPIRE Foundation are also mernbers of the MultidiscipJill3ry Association of Spinal Cord lujury Profe5siollals WSCIP). INSPtRE was creared tr) provide pubii¢ity and funding foT a research programme focused olk addressing independ¢noe and quality of life issues for people who live with th¢ eff£cts of Spinal Cord Injury (SCD, approx1n￿tel), 60,000 peopl¢ in the UK with three new cases each day. Trust InformAtlon Details of INTSPlliE's Charity Registration Number. office localioJ4 Registered Auditors, the llaTnes of the T￿Stee5 and con￿Ittee Mellthtrs ar¢ Shoy￿ on page l. DethiIs are also on our website at: wTrvw.inspire-fouDdation.org.uk. Objective 'To promote researclL into the development of practical syst¢￿$ for people wiib damage to the spinal cord. by the uge of the l&test adyances in electronic. mechanical alld modical t¢cbn(Trlogy.' Selection of Trustees 'rrust¢es (Page 11 are prow5ed. vetted and selected by current members of the Board to repres¢nt professional and s¢ientifi¢ networks. harnessing a broad specthjm of talents. All DCW trustees follow an induction programm¢ to n)ake them aware of the Foundation's Work and their legaI re5poDsibiiiti¢s as trustees. Durtllg this reporkng period Mr Charle5 Ranalx)Ido, an eminent surg¢on. was welcomed th the Board of Trustees for their fllSt meeting Natlonal Selentific Comrnittee sptRE has a $e¢ond board of subject matter experts, the NaÉional Scientific Cornmittee (NSC). It nomally meets fomially twice each year to aS5e&8 progr¢ss of fNSPIRE thded projects or ￿ PDaly>e proposed submissions. While the seientists give their time freely to tNsplliE, the major part they p]ay sbouid not b¢ widerestimated. It is the Tnjstees, coll¢Gtive view that the 4t￿lity of ll¢w 5¢ientists, ivitting to contribute to th¢ rese8Tch PTogramm4 is in itself indicative of tbc quality of projects for which INSPIRb is becoming recognised. To conform to the AN(iiC's six vear rotationaL policy, there were some eho]ig¢s in the make-up of the membership of the NSC in tbe year. th¢ dates of joining the NSC are shown overleaf for each ￿¢1￿ber. Pa PIRE FOU TIO REPORT OF THE TRL.STEES COhTINLED FOR THE YEAR E,NTED 30 APRtL 2024 A8 at 30 May 2024 member5 of the NSC are.. - Profes30r Nick Dona]dson MA PhD MtET MtPEW Untversity College London {06ll022) - Drmaurizio Belci DMS MSCMRCS FRCPNSIC. NSIC Stoke M8ndeville (12Q019) - Dr Jonathan Jarvis Bsc PHD (01,Q024) - Etnerilus Professor Ala4 Cotteudell MA PhD Ceng Csci FIMechB MIPEM MtMMM MBE, University College London 10412022) - Prof Andreiv jac￿0￿ PhD, Newcastle Universitv (03.QOI8) - Dr Henry Lancashir6 BSG Mr¢3 EngD CEng MINLW (04r2022) - Dr Éimear Smith MB Bch BAO Msc MD FRCPI FFSEM Pg Dip (01.Q024) - Mr John Sp¢n$ley, MSC FCMI forn]erly Finetecb Medical Ltd (02Q022) - Dr Paul Strntton fvISc (Honsl P]]D FIffiA, tmperial College Inndon (09f2018) - Mr Robert Tylor: Lay Member (Olll024) - Dr AnAe VanhotstellbeTgh¢ PhD UDiversity College London (09ll018) Public Bentflt The Trustees confirm that they have Compli￿ with the (kny Section 17(5} of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Collltllissiou. Achievements and Performance Although COVID is loug bebind us, its ¢ffe¢ts continu¢ to reY¢rE*rafe in the clwity worl4 with donations 8nd ￿aThts to INSPIRE irL this FY still being aff¢¢ted. Rewrch into overcomiiig the consequences of spinal cord illji￿ {SCI) Is still essential and this is why we exist as a eharity, but mwry Grant Making TnTsts have moved their focu5 from supporting medi￿1 research such as socia] exclusion aDd youth projects and I do not see this ¢b￿gnIg in the short to ]llediurn tsmL That said, INSPIRE bas a pedigree attd backgroundth￿ attracts 5UPPOrt and Grants from a wide number of souree9. Whilst keeping income flowing into tbe ¢harity, the INSPIRE teatn have also continued to bear down on costs, reducillg unnece&swy expenditure and makillg significant savings, which h&s bome fruit over the cov￿C of tbe FY. ONGOING PROJEcfs. The current National Research Progrdmme consists of nin¢ projc¢ts itemised hereto.. SPINAL PAIN Understandlng Lyuses and solutions of SCI Pain. R¢search Team.. Pl, Dr Jobtt Riddell, Dr Jozi¢m Goellse, Dr GuiUauD]e R0￿85e1eL Dr Aleks&lldra Vuckovio, Prof Bernard Conw.. Dr Margaret Purcell, Mr Matthew Fraser Uniyersitv of Glasgow & Queen Elizabeth University Teaohing H05Pit&l Qlasgow 42 monthsl Oct 20I7-MaT2021 extrnded to Nov 202)1 £153,636. Addition￿ funds approved in Noy 2020 {£15,034} and May ?021 {£15.840} with an adjusted end date agreed by Trustees on 26 April 2023. Adjusted Total costs £184,510 Proj¢¢t llow closed and report to be reviewed in AutvmJJ 2024. Locations: DuratiOnlDat¢￿c0st. Current Stat￿8.. THE INSPIRE FOLTNDATION REPORT OF TEtE TRLSTEIS CONTtNUED FOR THE YEAR LYDED 30 APRIL 2024 2. Neuromodulitloh to ¢ontrol bl*dder over-actlvity following Spinal Cord Injury witb tbe developmtsllt glld tem assessment ofwearable devi¢e5: YEUROMI OD JI R￿ear¢b Team.. Pl, Dr Lynse>' DuffelL Dr S2TalL KnigiiL Dr ADn¢ Yan H0&5trnb￿e, Dr Sebn Doherty MEn Winner of the tNSPIRE Foulldation PhD SthoiBrship in 2016. Lniversity College Lolldo￿ Londoll SpinaL Cord lttjury C¢ntr< Roya] NatioDal Orthopacdic Hospital Stsnmor¢ 24 months l Jdn 2019-2023. Totsj projxtcosts: £201,720 Project now itl iYsfitLal pha5¢ and aDricipthn8 final Teport sn Autumn 24 Loc4tiDJIS'. DurationlDat&%lC05t: Current Status: 3. Abdomlnll Funrtlonal Eleetrlell Stlmuigllon (ABFES) for Bowel Mxnagement: BOWMAN Research Tcam,. PI. DrT2rnS)￿ Srn Dr Richard E4rl• Dr Cbalil Vinod. M5 Mel willia￿ Dr Sean Doli¢rty', Dr Paul StrQ(c. Dr Satnir * SCJ P8tierti P¢r$petDiE Advisors SdisburyYHS FouDdatioD Trbst 36 Jnonthsl S¢p 2019-20Z2 exrc11d￿ on 30.424 £35,873 a￿d Low rtm$ to June 25. Adjulled tots].. £195,822 After a h¢sitsDt this projed extended th ellsure s￿iSfactOry recruitment of volullteers having sbown that abdomillal FES is us¢ful aid to bowel llwiageTneDt in the SCI Loc4Ltion'. DurdtionIDatC￿co5l'. Current Status: 4. Rteovery of fuKedon through eycllng tILerapy with vlrtual reAlity bio-fetJba¢k in ¢hronl¢ SCI: ICYCLE II Researcb Tcam.. PI, Pmf Nick Donaldso￿ DrLTr7￿ Dufftll. Prof J&4e Burridg4 Mrmaurizio Bclci Locations.. Royal National Orthop&edic Hospits]. Stwimore & Stoke Mandeville Hospital 18 mojjths INON 2019-April 20211 £86.456, ￿lIh additiollai £4.760 awarded by Tn]5tCES in Nov 21Y20. Notr.. fi]nding shared 50..50 witsl RFL Twck¢nhRm. tNSPIRE's Ori￿nal costs £91,215. Funded extension £7,837 appToY¢d bv TryJstee5 ?8 Apr 2022. Further fvnded ¢xt¢nsion of £14,481 apprDved bv Tft]st￿ 26 Apr 2023. Toi8] ￿$ts.. £123,552 Unfunded ￿tell510n to Julv 2024. anti¢iPg1irtg final report in Sprillg 2025, piojÉxt found ¢vcliti8 therapy useftd aid in retoveting fimciion in those ￿h0 Bre chronic&lly SCI DurntionDateknt'. Current St#tus: 5. El¢¢troell¢¢ph#logr#pb pred5ttors of ¢entral nturoy•¢hie y*ln sub4eUte SCI: PAIN PREDICT Rtg&irch Tea￿. Pl. Dr A]¢ks.￿drn Vuckotric. Dr M8riel Purcdl tAKaiions'. University ofGlasgow & QL'een Elizab￿￿ lialii)ttai Sp￿￿1 Injuri£% Unit 30 mooths I Start date Ocrober 21-.4pri] 24 £I90.988 Proje¢tcompl¢ted atsd aw8iting final ]tport in Autumn 2024 DurationlDateslCosL' CuTr¢nt Ststus.. 6. Fulletlon414¢tlvlty of upp¢r extr¢miti¢s for Improved trnnk Afttr SCI: TRUNK FLi¥cfIoN Researc]L Teatn". PL Dr Shin-yi Chi0￿ Dr Paul StrnttoiL Mr JR Chowdhury. Prof Debor8h Fall& DrEduardo M- Valdes UnivEr5ity of Bim]ingham, with costs 5h)red 36 MOnth￿Jan 2021-Jun 2024 "' In5PiTd5 shaTe £98.745 12 Ulonth extension to JaD 2024 approTr'GJ by Trustee5 19 May 2021. Project final rcwrtto be revicwed in AutU]Dll 2024. L(￿all0￿.. DuriiionlDateslCost: Cujrent Status.. 7. Evolvlng the Bionic Bladder: towArds tomplete electrEtkl coNtroJ orco￿tIne￿eO mieÉuritioN: BIONJC BLADDER R￿earch Team.. Pl: Dr Benjanin Macal#e. Dr Scan Doherti. Prof ￿eX Gretn. Prof TitD tknisott LocatiODS'. University of B8th, un1￿c￿S]￿ of (hfotd, The Cellty¢, Finet¢¢h Med:i¥tl Ud, Ro)ryl Veterinary College 24 TKJollthsl Sep 2023- Sep 2025 1 £217.585 Proje¢t ¢ommenrcd I Srptejnber 2023, r¢5eaJch is excitillg alld proD)i5ing for SCI bladdcrand bowel control DE￿tIon[Date$lCo$t. Curr¢ni Status: TifE YNSPIRE FOUNDATIOT+l REPORT OF THE TRtiSTEES coKtthUED FOR THE YEAR EII)ED 30 APRIL 2024 8. Repetltive MDverneDts wtth NeTre Stirnu]atlDn'StreDgth¢lliDg Residllal PAthivays': REHAB RHYnlM Re5fgTch TeBm: PI.. Prof Stu8n B4ker, DrHTishikc¥4 Kthnar LoGatloD$: University of Newca5tl¢ & ItLstityte of NeuTos¢ienc¢s Kolk8 DurationlDate51Cost: 3 years Jan 24- Dec 26 1 some Cl￿ shared with IPF £191.688 CurtEnt Status: Project Cott￿enCed l January 21Y24 efter delay LE recnJiillJg the right Lxlil)re of stsff FINANCIAL Th¢ njajority of our in¢omecontinu¢s to wme from Gr￿￿￿k￿]8T￿sts The Dire￿Or 8ndpw¢ titne r¢5¢aKh consultant hav¢ fo¢us¢d th¢ir endeavours on Ejew Sout¢￿ of furMxn& As a guide our figures: Income 234,122 268.423 160.498 2022 2023 2024 I08,835 162322 159.074 FtTruRE PLANS Dwing thls FY, th¢ ngw DirBGtor has settled iDtothe Tole. he￿¢the lowu inwme thau planned for INSPIRE overth6 rep)thttg perio￿ In fitture, as well as continuirjgto develop links with current aTKi futu￿ donors, &qpeciaLlJ' GMT& the Dir¢ctQT ¢ncourage person￿ giving frorl ￿raitIN individLHi4 the slagingof evenrs that e05t INSPIRL7 Icss to put on (and thcTEfotE yield a ure&teT rdum on i5Jv&thent) aT￿ I.￿pIring sup￿rterS to LUKi￿C SpO￿Tj8=￿C*ts {5uch as niar8lhons) for whiGh th4. 4r¢ sponsored. Runningcost5 hai'e tyj high in the pasi 50 the Dittctor and FinanGe MatRg¢v will reduce them as much &5 lw, thu5 PCTtni[vngTt￿ff to be 5WIt on Jnd firtUT¢ pJDjeGts. ThE role of Events m￿rha3 been Susp￿￿1 althou8h both th¢ nJonin8 of events and th¢ updating of the INSPIRE ￿¢b$1￿ will in futl￿e be cartied OLStby Helen R￿)neY and Ther¢sa W(M>d &8 the need arises. RISKMANAGEMETr4T The Trustee8 have exatllined the lllajor stratrgic. b1￿]nesS and operational risks presented by t￿t Director and confirn) that sy$teffls have bcen e5tsblisb.ed (o enable regidar rwrt5 to be pr(KIuL%d in an effortto minin2se th￿t risks. REPORT TF.F R EIDED 202 RuerY¢J Poll¢y The Trnste￿, poli¢y is to nMinrdinthe Charity's ￿[c[ed free[￿erVeS of at Iwt£lTh).(M. Wb8n ther£s￿v￿ exceed diss fiBwE thB exc￿5 i8 ava&labl¢io Dv¢ apwptiat¢ ￿0J¢Cts. As IbetimTTr¥ tsf I￿(￿5￿1¢d snnr8V¢*rLc￿ bei*TiBbkalld the Bharity fundrBi8e5 for proj￿t5th￿th&ye beeD 2pprovfA5 butnolyrtfi￿df4 thcTnLSEtt5 hvc r•rnWk￿ aJot¢¢tial 23% vf thciraoti¢ipattyl ant EonuDitTtKntlo desigoakd hnd5. Invtstmtjt Powers ftmd Poliry Tbe Trnstee5' pojicy i8to inv￿1 inth¢ si(￿￿ MJrk4 BBS tknpr6ii ￿¢0￿￿4CAFac￿￿jt8od ()]JtetChevi(Èprffolio. ThBakn of QudwCh¢viot portfollo is io arhleY¢ abaiallced tcnllllfrom ]nco][￿ alldcapnal a D￿lUMd¢8r￿QfrJ$k. Ibo v¢Stn￿tr r¢pmed re8]i*land unr¢4ii*l 8Oin8 of £1320 io ￿￿yeart0 JO Apnl 2024. Statement orTr￿￿￿e￿t Respottslbilltie4 Tbe Tnstees ai¢ rwonsibk fortt]E preparntx>Dof finarK1￿ forC￿hfin￿¢Ja[Yc#r￿kn￿h 8)Mifawvi¢w of th¢ Foulldation's in¢orning 8rtd applic8tion¢f w)ur¢E8 duritJ8 thE￿rll￿ of its 5(llLE of Effall5 BtthByeErenL IrLpTepariDg th05¢ finiincial8tstEtnthts IheTruslees 8ie r4illir¢d lo.. I Stht suityble &eCOVWiDg polic￿S HppTytl]EJn(y)n5i51rllty. 2 MBkejudg¢ments &ndtstlrAteSth￿8rt r¢•S0nabkw￿ pnth)L 3 Stat¢wh¢iherappli¢able Bcc4)untiu8stalldaTds 8J¥J Sta*n￿ts of pr4cb¢eTr*wbew followed. subj*ttoany trAttti81 dep&M￿ (bsclosed aEd¢xplgilled itt th¢ ￿aIr[[*￿￿. 4 Prtparethe finan¢ial the thatthe ch&ryty i4a goiD8 COllt•Ji th31 ￿ iropproprL*te wprt%utrthat the FouLdatioll in opg8tiO)L ThE Th￿teeS gre rewns￿￿k[or ¢DsJrire thaTprO￿l¢¢oUQl1￿￿ recoTds BTekepl di%closewithre&soJJable accurw81 ajy (ulle the Foundf¢t￿n,8 position a￿] e]Lqbk itio e￿5￿r¢that th¢ fioan¢iA] sth1¢)iThts coThylv ￿1th ibE Ch￿ltieS Act 2011. TheTrusEEts Ar¢olso r¢swnsibl¢ foisafego)Fdin¥the FourAiatiDn's&th Bnd I￿refor￿k￿grew￿￿￿bl¢ sttps for ¢h¢ pr¢*thtioll and d¢txliots of frhud bKe8cbe80f le8ll￿￿On& ByoTdEr Boud ofTTrEt￿: QG(IJ_ DG R￿ill￿BE Clwrt5￿ll THE INSPIRE FOUYDATI ¥DEPE￿7)ENT A ITOR'S REPORTTO THE TRLSTE OF THE INSPIRE FOUNDATtON Opinio We have audited the fJD8nci¥JI slateojettts ofth fNSPIRE FoundHtion {tho C1Jarity) for the year￿ded 30 April 2024 which comprss¢tb¢ Staiemertt of Fi1￿181A￿lVI1I￿, Balance She¢L alld the nol65to tr fllwncial sralem￿4 includinE aS￿lI￿•Y of the S]￿lfi¢￿t accounting]￿lIcIO setobt on pagc4 9 to 17. The finaocia] fr&neworkthath&s applied ]nth¢ir pryaratioo ts sppbLtbl¢lRw and United Killgdom A¢¢owiting StaudaTd5, including Financial RetM)rting Stattdard 102.. TheF1[￿ne12[ R￿Urti￿8 Stsndll￿ appliEebl¢ I tbeUK 8ttd R4)ubll¢ of Ir¢iand (Unttrd King(k)Dl Germily Aci%p￿t AccQwlli￿ Pt&lice). Thi$ i5 a rq)ort in r• of an audit cgrri&l out unders. 145 of theChuts&s A¢£2011. acLX)rdallcewith rylations Jnade wNJer s. 154 of that Ac¢ tn ouropitibll, th¢ fina￿1￿15tataj￿nts. ¢ atr￿ and fair view of thestÈte ofll* ¢bariws￿8jTs 85 •t30April 2024 and of it5 inwme And expenditt]r4 for tbe y¢ then hav¢ b¢en ptoperly pr¢p￿T￿ in XcOTdaTh￿ with Unit&iKinE(hm Crtxtt8lly Acxtptol Accounting Pr￿ti￿ and h8Y¢ beenpropcrly ptepattd ill a￿￿Tr￿£t the wir•￿Its of Charities Act 2011 &ttd the ch8ri￿¢S Trustr¢ Investment Iscoiiattd) Ad 2005 ondrggukiion 8 of th¢ Chariics Accoullts {Scodandl Regulauons 2006. Basls for opiuits We c¢ndu¢t¢d our audit ID accordanL%with Internatiollal S￿&[d$￿n AudttinglUK) asAs (UK)) aDd app]sc&ble 14w. Our re5pon%ibiliti¢s under thos? st2ndards are fLffthtr describLryI in th¢ Audttt>r's r¢¥x)D5i3ilities forlhe audit of ihe titwicial stste￿ents s¢¢tion tsfourreport. We indylldcnt of the CI￿lty ￿ accoTdat)cewith th¢ ethi￿1 rqiiir&n&)ts that 8re relev8ntto our au￿.$ of th¢ Afi1)￿¢￿1 5tthm¢nts inth¢ includinE th¢FRC'$ Ethi¢41 StaTKl8r& and wehaye fulFJlled ourotikr et￿1￿ respO￿51b1]itiC0 in 8c¢ord8nc¢ with thes¢ reqiiirement& W¢ belieV¢th￿ thc audit ¢vidaJfftwe have Ob￿￿1 is sufficiettt 8ttd appropriitye kn pmvidea basis forour opinio Comcluyions relatin% to golni eoneern In JiidiiiDg th¢ financial slat¢maiE have Conclu￿ that dtTnL4¢6s' u5cofthe going Ly)DCUft ILsis uf acrounting in the prep8ration of the bntincial slatem¢nts isappropriate. B&s¢d on the WOTkwe h&ve wfortlle¢ w¢ b*v¢ not idrn1ifi￿ any tDattr￿ wjctttsioties tclating ¢0 ¢v¢n15 or conditions thaL ittdividu8lly or coll¢ctively. may $lgp.if￿a[lt doubi on th¢ Charity's abilty to1￿mt￿l￿e&$ LEoiDg(x)JKrJn for arKiod of &t le￿ltWelVe1￿oll￿$ frojll when the fillattciai stat¢ttwJts arc authorised for i&su Oiirresponsibiliti&% 3]]d th¢ wsPOll5ibiliiics of theTn]sttes with reS￿¢t ￿ ￿ing&)￿l￿M ar¢ dexri￿a in the relevant st￿N)ng0f this rL Oth¢T inlormitlo The Trustees arertsponsible fortheoth¥ inforrnattoii . Theothu infornthtion co]npTi5¢5 th6 ULfonnatton included ￿ the AJmuBI R£po Otherth￿ the fin8n¢iai st8t¢m¢nts 8Dd our auditor's rewt It￿0￿. Ow opinion onthc fin&icial statements dc*$ not ¢ov¢r tiit othcr infi)m￿l0￿ wttothc cxtentothen¥i*expii¢idy swed inouTf¢FwL do llotcxpre8s￿Y fDrnJ of 1bsur8n(￿wQc]u5iQn thereon. Ia Ly)nne#ion withour auditof tk rJn￿¢1aI stat' in¢oD5i*¢nt with the finarKial 518tements orour LI￿11edg¢ obtai.i¢d ID the audit or otlierwise app&4TSto Mt)l¢ri￿IY misststed. If we Id￿tify 5uth tnaMaJ iOCOJL>iSterLies OTJ)PPWWrt t[Jat¢ri￿ mI￿tat￿ent4 w¢are required i d¢tertnirK Wheth￿ tt)ere IS fLma'.erial ]ni5Stratwn￿i in the fLllaocial SLaie4tJenlS ￿ aTDLteriai ￿ls$t￿t£M6nI of tbe other itifornMtioJt If. based on th¢ woik we haVe￿ror￿al, w¢ wJKlu¢k that th*¢ is amaterialnJisstatttDemtof this intOr￿0￿ we arn requittd to ]eport that Wehave nothing tOTVrt in thi5 T¢8￿. THE IPISPIRE FOUYDATION INDEPENDENT AUDrroRIS REPORT TO THE THES￿.Es OF THE LYSPIRE FOUNDATION c0YrThl￿D Matters which w¢ requi￿0 tD ttport by extepHo In the light of the kttowledge attd tsrtd•stattdillgof the Ch8Jit%' aud ¢nViron[￿ Obtain￿ ID the coursc of theaudiL w¢ hav¢llot idtlltified matetial tulsstthments the TTuts' Rep)rL We h&vBnothingto report Ill Tvspect ofthe foUowin8 matters where Charl￿A¢t 2011 ottd theChariti&s (ACca￿tr and R4￿￿) RegL)lth'on$ 2008 rtqU￿ u5 to reF¥>rttoYO￿ if itl our opinion.. infonuation in the R¢port of the is llx(x>tisitht ill 8tty m•*i81 wect withth¢ financial sthmellts.. or sutYici6llt al￿uDtll￿ reC￿S have not Lyen or Ik fitkmdal stgt¢nKn15 not in ag[c￿Ent with the ￿>Unting￿L%￿1& and retyrL%' or we have Mt received ail the ij)forma¢ion And expJats8titins we re4UiTe forour wditi Responsibrlities of the TruJtees As explained ￿Ore fully ID Ih? Trus*eg R￿ponsIbl￿1t1cS Staternent, setouton tAge& theTnJs(ees are respojjsible forthe prepar8tionof Ilie fIn￿Lia1 statements And ftsr b¢ing $8ti5fia i]Ky give a In]e End fair iiew.. fjttd for sud) cotttrol as det¢miin¢ 1$ neLW to ¢tsabl¢th¢pr¢paTatioti of fillaocial ststeJn￿Sthbl arc free from InatuA￿ n1￿$t}leM￿L wh&her dueto frAlld or&its. In PTqJaringtht fEnAnciat Statemell￿ the TnLSW are f&8{￿SIble for&we￿iL8th¢ thNrity'5 ability to LX)tLtinu¢ as a going ci>nLrtt4 di¥closln& as appli￿1< matters related to going conctrtt and usingthe80￿8 bB5isof aKxx>untingunless th¢Thsts ¢itl ifttendto liquidate the ch￿l￿or io Me operatioL4 or have rtO.*Lljstitahernwive to do w. Audltor's re*ptsthgibilÉ¢ies for the audit of the finantlal statemen Ourobj¢¢tiv¢s aT¢ to obtaitl rea50nabl¢ aFA)ui whether ftsJ2n¢ia] stsiements as awhok ￿ fre¢ from matsrial misState￿￿L whether dueto fiwd or¢rror, at)d to issue 8n auditor's report that in¢l"JdES OUT opinion. Ru50nabl¢ aswrance is ahigh level of &55ur8nce but 15 not 88uaranteethat audit collduc￿J in ocaKdEn(￿ w"'th ISA5 (LK) ￿￿1] a]ways dcteL* a Materi￿ JDiSStaIer￿t whettltexist Misstaiements Lan arise from fraud or etror ATrdareconsid¢rtd if. indiTridually or I￿ rI￿a￿esa￿ they CO￿7d re450t￿]Y be expecied to infiuence the economi¢ d¢¢isions of ustrs tsk¢n oi the bgsis ofthx finaftci￿ 51atemwJts. We " a￿￿lIng wliethw judgements 8Ld assumption5 msde by m3n￿¢1￿cnt werc indicative of potcatid bi&s stKI iy invf*iwingth¢ rationa]e1￿]I)d siEttificgDt oruTh￿S￿ttl traDwtioDS, In ord¢rto addre55 th*risk o". iyre8ul8riti&8 we eatti¢d outptortdurcs wFllcb illcIud￿l agrttingthe nnanCi￿ st8te]nents to urLde¥Iyi￿8 doourneniation alldenquirin8of MaTwjfL¢￿ andy)leDtI￿ liiigatiots alld irt48ttces of JLon.compbance. Thtre are however inberetst limitations in thes¢ 8udii pr(Kedura8. Th¢ more rejn0v￿ th8t and re8￿]atiO]￿ ate frolll fjnanci trnnmioiis. the likelv il isth* w¢ wouId b¢ aware of non-a)mpliattL%. Audtling s¢￿aTd$ also limit the procdures rtxuired to id¢ntify ￿n￿o￿p￿anCe to eniuiri. oftll8oagrment and insr£L#ion of relevant Corresp￿¢￿Q¥. Furtlwinor¢ ￿l￿talett￿l￿ du¢ 10 frw ) h￿der to d¢t¢th th& th05¢ thatgT15¢froTn er¥or a5 may tnvolve (kiibente kWLYaJm¢tLt or(y)Ilusioo. A furth¥ description of our teST￿SIbIlIties forthe audii Dr￿- finznrial ststr￿￿ts is located on the FRC web$lts I www.frc.org.uklauditOTSTeswnsibiliti85) This d￿Jp￿0￿ forn]s P8rt of our audiwTS Tq)orL INDBPE DENT ALDI REPORT TO THE TRLISTEES OF THE INSPIRE, FOLThDATION co.YrDITD U$¢ of our rq>ort This report is made 801ely to the¢hEriWs Tn]str4 &I￿y, in accordgtKX wÉth PHrt 4 of the Charities (Accounts and Repons) Regvlattojs 2tX)8 sttd R¢Blllatiort 10 ofth¢ chariti￿ Athi'Jnts (S￿>"Ja￿la) iiegulatiolls 21M)6. Our lludit work has ècell underthken so tI￿t w¢ n)ight stak to th¢ Gharity'5TTUs¢e￿thltr5c matters w¢ aT¢ rquired to sratr roth￿ in all a￿l.￿)￿S retM)rt 8nd fo[ no other purrM)8< To the fijllest ext¢ntp6nnittred by Jaw, Thedo not acwtor ￿urt)e R8rA)nsibility to ￿YOne othts thatt the CJJarity'S Trustees &80 body? for tyjr audit WOTK fortlLisfcFrf)rt. or for thc opillion5 bavc forDKd. Fl¢tchtr & Pthiers Chart¢r¢d Accoulltsnts and Statutory Audit Salisbuiy 24f Fleteber & Path¢n ar¢ ¢ligibl¢towl &% Ntuiitor inlert￿% of5ection 1212 of theCOm￿leS Act 20rt6 THE INSPIRE FOUNDATION sTATEmED￿ OF Flli FOR THE YEAR ENDED 30 APRIL 21124 Total Funds 2024 Total Funds 2023 restricted Restric Fw)ds Funds IDeome from: Donations and legacies.. Donations Charitable activities.. Fund raising pvelltS Other trading a¢tivities'. Sale of prints, cards and sweatshirts Inv¢strllents 79,189 68.000 147,189 226,233 8.062 8,062 32,766 756 4.491 746 4,491 943 8.481 Total Incojne 92,498 68,(MM) 160,498 268.423 Expendltur¢ on: Charitable activities Raising fulld8 158,719 38,162 67255 225,974 38,162 234,604 60,440 Total expenditure 196.881 67,255 264,136 Net tncom&l{¥diture} before gains d losses on investm¢nts (IIH.383) 745 (103.638) (26.620) Realised gain510055es} on investments Unrcalised profit&l(losses) on investmeots 5,903 (583) 5,903 (583) {I,032) 2,165 Net IDcome/e%penditsre for the year (99,063) 745 (98.318) {25,487) Tt7nsfers betw¢en fi￿dS Net rnovemellt in fijnds (99,063) 745 (98.318) (25,4871 BalanceB brought foTward at i May 2023 357,993 94,742 452,735 £ 478.222 B41ances carrled forw4rd ut 30 Aprll 2024 11&12 £ ?5¥,930 £ 95.487 £ 354,417 £452,735 THK ID4SPIRE FOLThDATION BALAN E SUEET FOR THE YEAR ETr4DED 30 APRIL 2024 Notes 2024 2023 ixed Assets Tan8ible As8¢ts Investm¢nts 330 272,710 570 449,381 273.040 449.951 Current Assets Stock Debtors Cash at bank alld in hand 1510 2,S14 139,191 l44.215 2,316 2.905 59,777 64,998 CredRtor3: amounts falling due wttbiu one y 10 62,838 62,214 Net c￿rrent ay$ets l (li%bi]iti£%) 81,377 2,784 Net Assets £ 354 417 £ 452,735 Unr¢stri¢ted F¢mds Generdl fund Desi￿led fi]nd$ 153,231 105.699 248,834 109,159 258,930 95,487 357,993 94.742 R¢stri¢ted Funds 12 £ 354,417 £ 452,735 The financial state]nents on w4g&8 10 to 18 wrre approved by the Board of Tnt$tees on and were signed on its behaif by: 18 Oj-aw 2oL D G R&Jdin MBE Chairman e12 THE IL¥SPIRE FOUE4DATION NOTES TO THE FI￿ANCIAL STATEr￿E￿￿rs FOR THE YEAR Ef4DED 30 APRIL 2024 l) Aeeounting Pollcie5 The fJDancial ststements have been prepaT&I in accordthice with Accoulltlng and Reporting by Charitios.. Siatement of Reeorninend¢d Prartice applicable to charities preparing their accoullts in ac¢ordan¢e with the Financi41 RFportiug St8lldard appli￿le in the UK and Republic of Ireland (FRS102). The financial statements ar¢ pffpared in sterlin& which is the functional currellcy of th¢ charty. Mon¢tary amoLintS 8re rounded to the nearcst £. Assets and liabilities ar¢ initially Tr¢0￿]Sed at historical cost or trdnsaction value unless otherwise stated in the relevant accountints policy. Preparation oftbe Flngnelal StateMe￿ts Going Concern Basis The Tiustees have r6view¢d financial projections foT the charity COD5iders that there are sutTicient funds at the dat¢ of SI￿ of the fitWLcial statements lo manage any foreseeAble dO￿￿tUrn in the economy. The Trnst¢e5 ¢onsider that there is areasonable expectsuon that the charity has adequate resources to continue in operdtional existence for the fottseeable and therefor¢ continues ttTr adopt the going coneern basis in preparillg the finallci￿ statemellts. Donation8 and Subscrlptions Donations and subscriptions ar¢ infjlud¢d as incom¢ in the year of receipL Donated assets ￿e recognised hs ineome whED the Tntst become5 entitled to the assets. wben it is probable that the &ssociated economic benefits will flow. alld th¢ fair Nvlu¢ of th¢ assets can be measured reliably. Ikgaeies Legaci¢s ar¢ in¢luded when probable, ie. the ch￿lty is advised by the persoual representative of an estate, that payment will be ]nade or property transferr&], glld the amount involved can be quaDtifjed. ExpeRditur¢ Expenditure ts a¢cowit¢d for on an accroals b8sis. The charity is not registered for VAT and all costs include input VAT wheTe thi5 has been charged. Costs of genernting fvllds are allTibutable to the one charitable activity. Gov¢rDan¢e costs are costs of EDanaging the chariry and incl￿d¢ a proportion of the salari¢s of m¢tnb¢r9 of staff who arc engaged ill these acuYitie4 apportion¢d the buis of the time spent. Stoeks Stocks comprise g{￿dS for resale and are stated at the low¢r of ¢ost ¥nd net realisable value. Tangible FIX￿ Assets Th¢ cost of tangible fixed assets is their pUr¢h￿ cost. together wth any incidental costs of aGqUiSitio Depre¢i&tion is calculated so as to Hyite off the cost of tan￿ble fixed assers. less their estimated residu valu¢s, on a 5traigknt line basis over the exp¢eted useful cconomic lives of the a￿L9 Concer￿￿. The principal atmuai rdte used for this purpose 15 2￿/th for a]1 offi0¢ equipmenL Investments In*'estJn¥nts ar¢ st&led at market va]ue, based on tbe value of cth deposits and the jnid-market pri¢e of investments as provided by the relevant investment monagers w the year eDd. Unrealised profits aud losse5 on ini'estlllents forthe y¢ar aT¢ taken to the Statement of Financial ActiTrities. J)ebtors D¢btor8 aT¢ measured at the amout)ts the clJaTity anticipates it will receive from a debt or the arnount it l)as paid In advance for go(Kts or services. Creditors Short-t¢rm creditors are mvasured at the tr￿￿¢tion PTice Grant expenditure Gr￿ts expendithre is r¢cognised in the yearthat the expenditijre is iticurred. Grants are awarded 8r¢ onditional subjectto biamLua] rewews. Accordingly fjJtyTe payrneiits of grants are not provided in the acco[￿ts but are noted in th¢ sumrnary of fubjre commitments Ih'ote 14. Research and DevelDPtDellt All reseatch and development Costs aTe MTitten off in the year iu which they Are incurred. Research and development cosLg include researth sajaries and equip￿ent P￿ChaSed kn enable pione£ring operation5 to take place. e13 THE INSPIRE FOL TriDATION NOTFts TO THE FLYLSCL4L STATEIIETriTS FOR THE YEAR ENDED 30 APRtL2024 CONTINLED Aecountln T4Xatio As a charity, the Foundation is noi liable to ineotD¢ or ￿tporatiOn tax ou illcome and gains which are applied to charitable putposes. Cgsh Flow Ststement Under the CWTent accounting requirements th¢ Foundation does not have to prepare a ¢ash flow statemenL Re8tricted And Lnrestrleted Funds Restricted funds comprise money that is earn￿￿ either by the donor or the TrllSt￿ for particujar projects. Unrestricted ￿llds are expendable at th¢ disor¢tiory of th¢ ffiLSt¢¢s in fi￿ther￿nCe of the objects of the charity. U[￿eStriCted Restricted Ttskl Total 2024 2023 159,074 162,32? 59.085 64,378 7,815 7,9D3 £67,255 £225.974 £234,604 2) Dire£t Cbaritsble Kxpenditure Gratsts for medical r&qearch to Insti￿￿0￿$ Costs of research programme Governance costs (Not¢ 4) 110,034 40.870 7.815 £158.719 49.U40 18215 Reclplents ofmedical research iDstitutioTral grants 2023 33.139 70.382 31.197 18,838 8,766 Bournemouth University Uniyersity of Glasgow Salisbur>' NHS Foundatioll Trust Untversity Coll¢g¢ 1o)ndon UDiThersity of Strathclyde unl￿erSity of Hityningham University of Bath 43.770 32.083 44,181 28,040 159,074 162,322 Unr¢stri¢ted Restricted Funds Fullits 12,583 1,579 24.000 £ 38.162 £ Totsl 2024 12.583 33,260 1,579 418 24.000 26,762 £ 38,162 £ 60,440 Tots] 3) C05t ofGpn¢rating Funds Promotion and fund rnising Cost of prints, cards and sw¢at5birts Overheads and governance costs (Note 4) 4) Governanee Costs The charity I￿8 a relatively low level of fixed overheads, th¢s¢ arc predorninallily salary costs as detailed in Not¢ 5. The costs of m2naging th¢ Charity have been apportioned ov¢rth¢ releyant activities. Salaries are Apportio￿¢d based on time spent on dIffer¢￿t acti￿tieS. Included in govemanc¢ ¢osts are auditols remune￿I0Th for aud[¢ of £1.400 (2023: £1,400) for oilLer service5 of £1,480 {2023: £I,520). 2024 2023 59,085 64.378 22,725 24,761 7.815 7,903 1,275 2,001 £ 90,900 £ 99,043 Direct Ch￿Itable expendilllr¢ Cost of gencrating fitnds Govemanee costs- medical research Gov¢rnaD¢e ¢0sts- fundraising e14 THE IP4SPIRE FOUYDATION NOTES TO THE ￿ANCIAL STATEME TS FOR THE YEAR ENI)ED 30 APRtL 2024 CONTIYUED 5) Trustees, Remuntrnlion, Related party Trnnsartions and Employee Informlltlon None of the Trustees received any emolurnents in either year. No expenses reIating to travel and subsistence eosts were reimbursed to Trustees {2023: 1 TTustee- £124). The Fowthtion employed all averag¢ of 3 people during the year (2023: 3) Staff costs 2024 2023 Salaries alld wages So¢ial 8Kurity costs P¢nsion costs 72,347 1,908 458 81.313 2,808 1,918 74,713 £ 86,038 There were no employee5 who received emolu￿¢￿5 (excluding employees Nl and employers pension contnbution$) above £60,000 (2023 - 0). The total mnuneration paid to key m￿￿ge￿ent personDel in the year £60.606 (2023 - £65.994) 6) Tangible Fixed Assets Office ui Total Cost At l May2023 Additions Disposals At 30 April 2024 3,675 3,675 3,675 3,675 Depreci8tlon At l May 2023 Cbarge for the year On Disposals 3,105 240 3,105 240 At 30 April 2024 3,345 3,345 Net Book v4]￿e At 30 April 2024 330 £ 330 At 30 April 2023 570 £ 570 7) Investments 2024 2023 449,J81 456,426 169,273 31,147 (328.693) (26,565) (2,675) 2,165 (14,576) {13,792) £ 272,710 £ 449,381 ma￿et value at 30 April 2023 Additions Disposals Revaluation In¢rease/(decrease) in cash Market value as at 30 April 2024 Hi5tori¢ cost £ 265,299 £ 366,929 THE I¥SPIRE FOLryDATION OTP.S TO TllTr, Flh.4ICI.41. STATF.IIENIS OliTIliLT 7) Investments (¢oll¢'d) tnvtstments by market value Charitie8 Aid UK Equity tncorne Units Fund B Roy&l BaDk of Scotland Deposit account Quilter Cheviot Portfolio RatlLbonc5 Portfolio Other Bank Deposits accounts 9,472 179,454 866 146,577 154.032 109.202 122,484 £ 272,709 £ 449J81 IS) Stock Prints Brnttded products CaTIIs 152 1244 114 152 1.905 £ 2.510 £ 2316 9) Debtors 202 20 Prepayment5 and accrud inwm¢ 2,514 2.905 £ 2.514 £ 2.905 10) Creditors., •mounts falli￿g withln one yeAr 202 29,359 Grants payable Trade creditors Salaries Othei. ¢reditors Accrualg and defattd income 40,313 613 2,140 656 12,492 62,214 449 30.938 £ 62,838 £ 11) Unrestrlettd Fllnds- Ve*r ended 30 April 2024 UTrr¢stricted filnds are stwt or applied at the discretion ofthe Tn]stees to further eny of the cbarity's purposes. Utt¥estricted funds ean be used io supplement ¢xpenditLtre rnade frorn resthcted fun