Annual Report and Accounts For the year ended 31 March 2020 Company Number: 07706036 About Nesta Nesta is an innovation foundation. For us, innovation means turning bold ideas into reality and changing lives for the better. We use our expertise, skills and funding in areas where there are big challenges facing society. Nesta is based in the UK and supported by a financial endowment. We work with partners around the globe to bring bold ideas to life to change the world for good. If you’d like this publication in an alternative format such as Braille or large print please contact us at
[email protected] Design: Green Doe Graphic Design Ltd Annual Report and Accounts For the year ended 31 March 2020 Trustees 4 Chair and Chief Executive’s introductory statement 5 Strategic report 7 Financial review 23 Principal risks and uncertainties 29 Objectives 30 Governance and management 31 Independent auditor’s report 38 Financial statements 40 Reference and administrative details 75 Annual Report and Accounts: For the year ended 31 March 2020 Trustees Sir John Gieve Professor Anthony Lilley Christina McComb Nesta’s Chair Trustee Trustee Independent Chair of VocaLink Director of Scenario Two Ltd Chair of OneFamily, Chair of Standard and Chair of Homerton Life Private Equity Trust plc, Senior NHS trust Independent Director, Big Society Capital Heider Ridha Imran Khan Jimmy Wales Trustee Trustee Trustee Operating Partner Head of Public Engagement Founder of Wikipedia of TDR Capital at the Wellcome Trust and WT Social Joanna Killian Judy Gibbons