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2021-12-31-accounts

Innovi5ta Inttrnational ￿ registered in England and Wales as a d)arity no. 1108679 and a company lirnited by guarantee no. 5371169 ji Innovista Trustee's Annual Report and Financial Statements for the year ended 31 December 2021 vw.inno ista.org

Legal and Administrative Information

Company no: 05371169

Charity no: 1108679 Suite A, First Floor Principal address: Meridian House Sandy Lane West Oxford OX4 6LB Chantry House Registered office: 22 Upperton Road Eastbourne BN21 1BF Trustees/Directors: Tim Wills (Chair) Claire Goodman Stuart Weekes Richard Myers Company Secretary: Jason Lane Caladine Ltd Auditors: Chantry House 22 Upperton Road Eastbourne BN21 1BF Bankers: HSBC plc Prama House Banbury Road Oxford OX2 7HY

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

Contents

Page
Trustees’ report 4
Independent auditor’s report 20
Statement of financial activities 23
Statement of financial position 25
Statement of cash flow 26
Notes to the financial statements 27

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

Trustees’ Annual Report

Contents

  1. A Letter from the Chair of Trustees

  2. 2021 in Numbers

  3. Who We Are

  4. How We Work

  5. Objectives and Activities

  6. Achievements and Performance 2021

  7. Objectives for 2022

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

A Letter from the Chair of Trustees

It is a pleasure to share our latest Annual Report and Accounts. 2021 was a year in which we continued to see logistical and practical challenges resulting from the global pandemic, but overall one in which we sought to remain committed to innovation and growth.

Despite the challenges Innovista trained 1,738 leaders during the year, and throughout our network we saw those leaders starting, growing and maintaining wonderful initiatives in all sorts of different communities.

We launched a new leadership development programme called Mindshift. We have also made significant progress developing a new impact evaluation system, which will significantly strengthen the speed, quality and scope of our ability to critically appraise our work.

We have invested in our leadership, seeing Jason (our International Director) sent on sabbatical, giving him three months in which to be refreshed physically, spiritually and intellectually. We were also delighted to promote ‘Madina’ to Regional Director for Central Asia, with a cohort of talented leaders around her, reflecting growth in a key operational hub.

As a Board of Trustees we are full of gratitude towards two groups. Firstly our staff, who have been committed, resourceful and innovative in equal measure. And secondly to our supporters, who through a period of economic disruption and uncertainty have shown equal commitment, alongside generosity and prayerful encouragement. Thanks to your sacrificial support we raised £684,720.

When I think about those 1,738 leaders I get really excited. Think for a moment what God can do through those people. What are his plans for them over the next year? I know this, that the Innovista team are looking forward to working with them all, and many others, to fulfill our mission.

Tim Wills

Chair of the Board of Trustees

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

2021 in Numbers

Thank you for your commitment, generosity and prayerful encouragement which has enabled these incredible results.

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

Who We Are

Our Purpose

To identify, equip and develop leaders to change their communities with the hope of Jesus

Innovista exists to grow life-changing leadership in hard-toreach and unlikely places.

When Jesus chose his first followers, he didn’t pick the obvious contenders but instead opted for ordinary men and women. They were hardly the people you’d have expected to be the leaders of the early church, but nevertheless these men and women went on to achieve great things in His name.

Just as they changed their communities, so today we seek to identify, equip and develop those we think can change the communities they live in; however difficult that may be; however unlikely their leadership may seem.

We’ve been training and mentoring leaders for over 20 years now. Again and again, they have gone on to do remarkable things in the communities, regions and nations that they live in, both overseas and here in the UK.

Our Values

Our organisational values shape the way we operate and frame all that we do.

Stewardship ensures we use our resources in ways that bring the most hope and change. We believe in being good stewards of all that we have been given.

Engaged in context means being deliberate in understanding the contexts in which we work, which determines what we do and how we do it.

Inspiring excellence ensures we do what we do in ways that inspire with distinctive quality.

Effective teamwork , recognising the different strengths and skills we each have and utilising those strengths to grow effective teams, where people are able to bring their best contribution.

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

How we Work

Innovista identifies, equips and develops leaders to change their communities with the hope of Jesus. Our training is delivered by local staff who know and love the people and the places they serve and who speak the local language. Their presence within the local community also enables them to forge partnerships which are key to effecting lasting change.

Innovista offers a range of training, including:

Objectives and Activities

Innovista’s charitable objectives are:

1. To advance the Christian faith for the benefit of the public and in particular:

2. To advance education for the benefit of the public and in particular:

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

3. To promote community capacity building for the benefit of the public and in particular:

4. To prevent and relieve poverty for the benefit of the public and in particular:

Achievements and Performance for 2021

The Context: Covid continues

For a second year, the pandemic created uncertainty and challenge in all countries, including a UK national lockdown in January and February and a large surge in cases across Europe towards the end of the year. Nevertheless, the learning from 2020, enabled Innovista to respond quickly to changing situations and support leadership teams who were increasingly fatigued by the demands of this crisis. Training continued to be delivered through a blend of online, telephone and in-person workshops depending on the prevalence of Covid in different countries. International travel remained challenging though and the team was unable to come together for the second year in a row.

2021 was designated as a year to build organisational strength in preparation for anticipated further growth in reach and impact in 2022 and beyond. This emphasis was reflected in the objectives set for 2021 outlined below.

OBJECTIVE 1: Between 1300-1600 participate in training with Innovista (an intentionally small increase from 1,259 in 2020)

RESULTS: 1,738 leaders benefitted from Innovista’s training in 2021. This larger than expected number was achieved with no marketing, with most new leaders connecting with Innovista locally, via personal recommendation.

OBJECTIVE 2: Innovista in Moldova launches as a full partner

RESULTS: Our aim is to see an increasing number of Innovista entities becoming locally-led, wholly-owned, national ministries. Innovista Moldova was registered as a

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

local organisation (formally registered in January 2022) and will operate under the oversight of a Moldovan board with Maricela Bejan continuing in her role as National Director. The team in Moldova grew their reach in 2021, serving 307 leaders in Chisinau and new parts of the country they hadn’t previously been.

OBJECTIVE 3: Launch a network of leadership development specialists with forty participants by the end of 2021

RESULTS: With continued uncertainty over travel and gatherings, work on this objective was limited and it was decided not to launch the new network in 2021.

OBJECTIVE 4: Launch a new leadership development programme specifically designed for the post- Soviet context

RESULTS: ‘Mindshift’ was launched in Moldova, Ukraine, Russia as well as parts of Central Asia. This programme is designed to develop core competencies of critical thinking, communication, problem solving, collaboration, and innovation.

OBJECTIVE 5: The Innovation Conversations (a Covid response project initiated during 2020) delivers two new mission initiatives in two countries

RESULTS: New initiatives were developed in Moldova and two Central Asian countries. In Moldova a group of innovators developed a set of tools to identify and release the talents and gifts of each person in the local church so that there is commitment to mission from the many, not just the few. In Central Asia, teams of volunteers were equipped to provide holistic support to people in rural communities, via a network of local churches. This support includes care for people who are suffering due to the ravages of the Covid pandemic and is focused on the most vulnerable.

OBJECTIVE 6: First phase of a new learning and impact system is completed.

RESULTS: The new learning and impact system will enable Innovista to track the outcomes and impact of training in every location. This data will be used to shape strategy, improve training and evidence impact. During 2021 the project partner– Eido Research – was identified and the project designed. We were also successful in seeking funding from a US charitable trust that has committed to funding this project over the coming year. You can read more about this project on p12.

OBJECTIVE 7: Online learning is expanded, including the first full course in Russian

RESULTS: Online training was expanded during the year, including the Tempo Leadership Course being delivered online. In addition, online learning enabled staff to deliver training into new locations where their expertise was needed, but where travel was not feasible. For example, Central Asian staff trained leaders in Vladivistok in Russia’s far east. You can read more about this in Irina’s story below.

OBJECTIVE 8: Fundraising: reserves are strengthened and £200,000 raised for investment and innovation, in addition to the operating budget

RESULTS: Reserves were considerably strengthened in 2021, with unrestricted funds (reserves) of £87,000 at year end. Restricted funds also showed a healthy balance of

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

£160,000 which provides funds for specific countries as well as investment and innovation, including for online learning and the build and launch of the new learning and impact system.

OBJECTIVE 9: Financial management is strengthened by the creation of a three-year rolling budget

RESULTS: A new system for budgeting and financial planning was outlined together with a specialist firm who will build out the system pro bono. Due to covid-related capacity limits, it was decided to move the implementation phase of this project into 2022.

Irina’s Story

Irina[1] had been leading a Christian counselling ministry for several years in Vladivostok, Russia, when she had an emotional encounter in prayer. She cried out to God,

“Why did you choose me? I am nothing and nobody…I didn’t want to be a leader.”

Reflecting on the challenges of being a woman in a leadership role in eastern Russia.

Later that week she recalled something a friend had told her about a lady called Madina who was training leaders in Central Asia. As Irina recalled this conversation, she knew instinctively that God was answering her prayers.

Madina is Innovista’s Regional Director for Central Asia, and operates under the radar in many high-risk settings. As the context for ministry in Russia gets harder,

1 We have changed the name of this leader to project her identity and ministry.

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

Madina and Irina have been able to connect online for remote leadership training. And it has been transformational.

Irina highlighted something which she herself found particularly helpful; being able to challenge the Soviet style of leadership – a harsh and unyielding style which was as much in evidence inside the church as outside. Working to develop a strong team dynamic, where everyone knew their role and their gifts and pulled together, was so helpful.

With Madina’s help, this team has flourished. They have all benefitted personally from the prayer and healing ministry they offer to their community, and together are loving and serving those around them with the hope of Jesus.

Learning and Impact System

Understanding and demonstrating impact is critical and an area that was identified as an opportunity for improvement. Developing the breadth and depth of our data collection will enable Innovista to better show how we are living out our purpose and to identify and address areas of weakness.

In the summer of 2021 we researched potential partners for this project and selected Eido Research, who have supported Holy Trinity Brompton, Christians Against Poverty and the Cinnamon Network amongst others. They wrote a detailed scoping report which became the basis for a funding application to a US foundation.

Our funding application was successful, and in November 2021 we kick started the ‘Learning and Impact’ project with Eido Research[2] . Our initial task has been to identify the key indicators that measure ‘success’ both at the individual and the community level; a challenging task when you consider the differences in language and culture between the various places we work.

Project Timeline

Our plan for 2022 is that the Learning and Impact system will go live, using the ‘Impact Atlas’[3] platform to analyse attitudes, skills and behaviours against a set of agreed

2 www.eidoresearch.com

3 www.impactatlas.com

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

measures. With this information we will be able to monitor the effectiveness of training and evaluate how they are creating the desired impact in local communities.

This project will also help identify strategic training needs and improve our ability to demonstrate impact to funders.

Dmytro, eighth from the left, with his youth group in Ukraine.

Innovista’s leadership training is a game-changer for the church in post-Soviet countries. In this context, leadership is about being strong. Leadership is about being right. It’s about ruling, not serving. By bringing kingdom values into our training, church leaders are able to see how their own cultural norms are challenged by Jesus’ servant leadership.

A young man called Dmytro is a shining example of this. He goes to the largest Baptist church in L’viv, Ukraine, which has completed Tempo this year. As a result, the church wants to make lots of changes to reach the community more effectively – including its many teenagers.

For the past few years, Dmytro has led a successful ministry to 150 teenagers in the church. The work has flourished. Culturally, everyone would expect Dmytro to sit back, take the credit, and enjoy his reputation as a successful and high-achieving leader. Instead, Dmytro felt it was right to hand the ministry – and all the credit – over to someone else.

Dmytro wants to invest more in the church’s media programme to help them connect with young people in the community. And so, having identified a gifted younger leader called Vova (second from the right) who could take over the teenage ministry, he handed it over to him.

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

Anatoliy, Innovista’s National Director for Ukraine, coached both of these men during Tempo. He says,

“This is an excellent example of passing a successful and effective ministry from one leader to another in order for both to grow. Such examples are filling my heart with joy as we see a new generation of leaders living out the principle of 2 Timothy 2:2. Praise the Lord!”

Leadership Development in Great Britain

In addition to the achievements above, we have also been investing in leadership development programmes in Great Britain.

Innovista GB training at a church in Cornwall.

One church leader told us;

‘We chose to work with Innovista because their Thrive Teams had a noteworthy reputation for working with local churches to reach disadvantaged communities in Oxford. As a result of our partnership, we are already working better as a team, clearer vision is emerging, and there's a strong sense of fresh forward momentum. We're very grateful for our strong developing partnership with Innovista, and have loved their listening stance, and relational style’.

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

International Resource Hub

The International Resource Hub, predominantly based in Oxford, supports Innovista’s work both in the UK and worldwide. It provides essential services such as programme development, network management, fundraising and communications, HR, finance and IT.

Throughout 2021, the team continued to work remotely, having moved out of the office in the autumn of 2020. Working closely with our partner, Planet IT, we were able to continue to develop our Sharepoint intranet which works seamlessly with Microsoft Teams to enable the team to stay connected and work effectively.

We embedded our new CRM system, Donorfy, and realised some of the gains which we had hoped for including better integration with other systems and more efficient ways of working.

The team gathered twice in 2021 for our regular rhythm of ‘Learning Days’; an inspiring 2- 3 days of team building, learning, reflection and planning. We spent time understanding a new goal-setting and leadership tool, Objectives and Key Results (OKRs), learning about the character of the apostle Paul, and developing a biblical model of ‘Raising Kingdom Resources’.

Despite the challenging context we were successful in raising £684,720 in 2021 exceeding fundraising budgets and income raised in 2020. We are profoundly thankful for the individuals, families, churches, charitable trusts and businesses that supported Innovista’s work over this last year.

Fundraising and compliance

Innovista is a member of the Fundraising Regulator and as such, adheres to best practice in all our fundraising activities. All fundraising activities are regularly monitored by the International Director and the Board of Trustees. The majority of fundraising work is carried out in-house. However, we do use a consultant to assist us in writing monthly newsletters and appeals. Consultants are always selected on the basis of having shared faith, shared values and proven expertise in the sector.

We hold all our fundraisers to account on our shared values of excellence and stewardship as well as more formal codes of practice established by the Chartered Institute of Fundraising - to which two of our team belong.

No complaints were made in 2021 regarding our fundraising.

We do most of our fundraising by email although in 2021 we tested a direct mail approach with strong results. Whilst we do have elderly people on our mailing lists, we know them personally and immediately respond to any requests to unsubscribe. Fundraising for more

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significant investments is done relationally and we would only approach a major donor where we knew that this was something they were personally committed to.

Objectives for 2022

The need for leaders who serve with courage, integrity and skill is everywhere.

In 2022, we’ll work to increase our reach and impact so that more leaders are equipped to serve with distinction – so that people and communities flourish as they encounter Jesus.

We’ll continue to prioritise the tough places, where resources are few and where we can make the biggest difference. Specifically:

Financial Review of 2021

Innovista is so thankful for the individual supporters, charitable trustees, businesses and churches who give generously to bring hope in difficult places.

The results for the year are set out in the Statement of Financial Activities following this report. The income and expenditure are summarised below.

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

During the year, there was an increase of £57,856 in unrestricted funds and £75,960 in restricted funds. This resulted in a final balance of £87,043 of unrestricted funds and £160,622 of restricted funds.

Reserves Policy

Innovista International has a policy of retaining reserves amounting to 60-90 days normal operating costs to finance its planned activities and meet its future financial obligations. Based on current expenditure levels reserves of £100,000 are to be maintained. Unrestricted reserves at the end of 2021 stood at £87,043 (see note 20 to the financial statements) which, although below the desired level, is significantly closer to the target than in previous years. The trustees will continue to work towards securing further unrestricted reserves over the next 12 months in order to bring reserves into line with the agreed policy.

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

Structure, Governance and Management

Innovista International is a charitable company limited by guarantee, governed by its Memorandum and Articles of Association. Innovista International includes Thrive Teams in the UK. It was incorporated in the United Kingdom on 21 February 2005 and the Memorandum and Articles of association were amended by Special Resolution dated 10 October 2014. It is registered as a charity with the Charity Commission of England and Wales, registered number 1108679. The directors of the charitable company are its trustees for the purposes of charity law and through this report are collectively referred to as the trustees. The liability of the members, who are the trustees, of the charitable company is limited by their guarantee to contribute a sum £1 each towards the liabilities of the charitable company in the event of liquidation.

A minimum of three and a maximum of ten trustees are required at any one time. New trustees are appointed either to fill in a vacancy or by way of addition to the Board. On appointment trustees are required to hold to the Statement of Faith, affirm (upon joining and thereafter annually) their agreement with the aims and values of the charity, and meet any other criteria established from time to time by the trustees. When new trustees are appointed they are introduced to the work of the charity and provided with the information they need to fulfil their roles, which includes information about the role of the trustees and their responsibilities under the Companies and Charities Acts.

Day-to-day administration of the charity is delegated to the International Director, and his management team, under the supervision of the trustees. Decision making powers are retained by the trustees and exercised at regular trustees’ meeting, of which there are a minimum of three each year.

Risk Management

Risk awareness is integral to the charity’s overall management effectiveness. Regular risk assessments are conducted in respect of the charity’s activities. The trustees have identified the major risks which may affect the charity and have taken reasonable steps to mitigate those risks.

Trustees’ responsibilities in relation to the Financial Statements

Company law and Charity law require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and the financial activities of the charity for that period. In preparing these financial statements, the trustees are required to:

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Innovista International | Trustees’ Annual Report (including Directors’ Report)

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for ensuring that the charity maintains an adequate system of internal control designed to provide reasonable assurance that the assets are safeguarded against loss or unauthorised use to prevent and detect fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In so far as the trustees are aware:

Auditors

The auditors are Caladine Limited, Chartered Certified Accountants, a company registered in England. Company no: 04399483. Registered office: Chantry House, 22 Upperton Road, Eastbourne, BN21 1BF, who have been appointed under the Companies Act 2006.

Small Company Exemptions

This report is prepared in accordance with the small companies’ regime under the Companies Act 2006.

On behalf of the Board

Tim Wills

Chairman

Date: September 16, 2022

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INNOVISTA INTERNATIONAL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF INNOVISTA INTERNATIONAL

Opinion

We have audited the financial statements of Innovista International (the ‘charity’) for the year ended 31 December 2021 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

INNOVISTA INTERNATIONAL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF INNOVISTA INTERNATIONAL

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, 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 but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

INNOVISTA INTERNATIONAL INDEPENDENT AUDITOR'S REpoirr (coKriNUED) TO THE TRUSTEES OF INNOVISTA INTERNATIONAL We a5ses5ed the yjsceptibility of the charity's financial StateM￿ts to material misstatement. including obtaining an understanding of how fraud might (Kcur. by: making enquiries of management as to where thEy c(￿51dered there wa5 susceptibility to fraud, their knowledge of actual, suspected and alleged fraud- and considering the internal cmtrois in place to fftitigate risks of fraud and non-cfynpliance with laws and regulations. AudTt response to risks identified To address the risk of fraud through management bias and override of ccffttrrAs, we: performed analytical Pr￿ed￿re$ to identify any unuwal or unexpected relationship5: tested journal entries to identify unusual transacti￿$. assessed whether judge￿ents and assumptions made in detemiining the accounting estimates were indicative of potential bias. and investigatetl the rationale behind signifKant (K unusual transactions. In response to the risk of irregularities and n(￿-COmpLiance with laws and regulati￿$. we designed procedures which included, but were not limited to- agreeing financial statement disc105ures to underlwng suppN)rting documentation. reading the minute5 of meet?ngs of those charged with govemance. enquiring of management as to actual antl potential litigatirm and claims: and reviewing correspondence with HMRC and relevant regulators There are inherent limitations in audit procedures described above. The more removed that law5 and regulation5 are from financial transactions, the less likely it is that we wwld become aware of noTrcompliance. Auditing standards also limit the audit procedures required to identify non-compliance with Laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspoThJence. if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or coilusirm. A further description of wr responsibilities is available on the Financial Reporting Council's website at: https:l/ www.frc.org.uklauditorsresponsibilitie5. This descripti(￿ fms part of our auditorfs report. Mr Colin Jame5 Dadswell ACCA (Senior StatUt￿Y Audltor) for and on behalf of Caladlne Llmlted Chartered Certrfied ACc￿ntantS Statutory Audltor Chantry HrAJse 22 Upperton Road EastboL*rne East Sussex BN21 IBF

INNOVISTA INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2021

Current financial year
Unrestricted Restricted Total Total
funds funds
2021 2021 2021 2020
Notes £ £ £ £
Income from:
Donations and legacies 3 333,967 339,747 673,714 599,700
Charitable activities 4 - 4,506 4,506 4,776
Investments 5 6 - 6 -
Other income 6 1,230 5,264 6,494 29,947
Total income 335,203 349,517 684,720 634,423
Expenditure on:
Raising funds 7 78,949 23,592 102,541 124,097
Charitable activities 8 125,838 320,425 446,263 517,264
Other 13 853 - 853 315
Total resources expended 205,640 344,017 549,657 641,676
Net incoming/(outgoing) resources before transfers 129,563 5,500 135,063 (7,253)
Gross transfers between funds 19 (70,460) 70,460 - -
Net income/(expenditure) for the year/
Net incoming/(outgoing) resources 59,103 75,960 135,063 (7,253)
Other recognised gains and losses
Other gains or losses 14 (1,247) - (1,247) (272)
Net movement in funds 57,856 75,960 133,816 (7,525)
Fund balances at 1 January 2021 29,187 84,662 113,849 121,374
Fund balances at 31 December 2021 87,043 160,622 247,665 113,849

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

INNOVISTA INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2021

Prior financial year
Unrestricted Restricted Total
funds funds
2020 2020 2020
Notes £ £ £
Income from:
Donations and legacies 3 270,830 328,870 599,700
Charitable activities 4 3,010 1,766 4,776
Other income 6 3,615 26,332 29,947
Total income 277,455 356,968 634,423
Expenditure on:
Raising funds 7 86,201 37,896 124,097
Charitable activities 8 148,835 368,429 517,264
Other 13 315 - 315
Total resources expended 235,351 406,325 641,676
Net incoming/(outgoing) resources before transfers 42,104 (49,357) (7,253)
Gross transfers between funds 19 (31,034) 31,034 -
Net income/(expenditure) for the year/
Net incoming/(outgoing) resources 11,070 (18,323) (7,253)
Other recognised gains and losses
Other gains or losses 14 (272) - (272)
Net movement in funds 10,798 (18,323) (7,525)
Fund balances at 1 January 2020 18,389 102,985 121,374
Fund balances at 31 December 2020 29,187 84,662 113,849

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INNOVISTA INTERNATIONAL

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

2021 2020
Notes £ £ £ £
Fixed assets
Property, plant and equipment 15 11,581 17,043
Current assets
Trade and other receivables 16 19,490 12,770
Cash at bank and in hand 235,005 116,669
254,495 129,439
Current liabilities 17 (18,411) (32,633)
Net current assets 236,084 96,806
Total assets less current liabilities 247,665 113,849
Income funds
Restricted funds 19 160,622 84,662
Unrestricted funds 87,043 29,187
247,665 113,849

The financial statements were approved by the Trustees on September 16, 2022

Tim Wills Trustee

Company Registration No. 05371169

INNOVISTA INTERNATIONAL

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2021

2021 2020
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 22 123,123 30,193
Investing activities
Purchase of property, plant and equipment (4,793) -
Proceeds on disposal of property, plant and
equipment - 100
Investment income received 6 -
Net cash (used in)/generated from
investing activities (4,787) 100
Net cash used in financing activities - -
Net increase in cash and cash equivalents 118,336 30,293
Cash and cash equivalents at beginning of year 116,669 86,376
Cash and cash equivalents at end of year 235,005 116,669

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Company information

Innovista International is a private company limited by guarantee incorporated in England and Wales. The registered office is Chantry House, 22 Upperton Road, Eastbourne, East Sussex, BN21 1BF.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations and grants are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. It is communicated to individuals who donate through the charity's website that any Gift Aid is to be utilised for the general purposes of the charity, and is therefore treated as unrestricted funds.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Liabilities are recognised when a constructive obligation exists, the payment is probable and the obligation can be measured or estimated reliably.

Resources expended are allocated to the particular cost centre to which they relate and include irrecoverable VAT.

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies (Continued)

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Office and media equipment 25% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Small items of equipment costing below £250 are not capitalised.

1.7 Impairment of non-current assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies (Continued)

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Restricted Total Total
funds funds
2021 2021 2021 2020
£ £ £ £
Donations and gifts 333,967 339,747 673,714 599,700

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

3 Donations and legacies

Unrestricted Unrestricted Restricted Restricted Total Total
funds funds
2021 2021 2021 2020
£ £ £
£ (Continued)
Donations and gifts
Businesses and Community Organisations 33,700 24,950 58,650 38,237
Churches 2,033 32,903 34,936 48,450
Individuals (including tax reclaim under gift aid) 247,234 130,568 377,802 347,078
Local government grants - 4,000 4,000 4,500
Trusts and foundations 51,000 147,326 198,326 161,435
333,967 339,747 673,714 599,700
For the year ended 31 December 2020
Unrestricted Restricted Total
funds funds
2020 2020 2020
£ £ £
Donations and gifts 270,830 328,870 599,700
Donations and gifts
Businesses and Community Organisations 31,872 6,365 38,237
Churches 5,050 43,400 48,450
Individuals (including tax reclaim under gift aid) 172,333 174,745 347,078
Local government grants - 4,500 4,500
Trusts and foundations 61,575 99,860 161,435
270,830 328,870 599,700

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

4 Charitable activities

2021 2020
£ £
Training courses and events 4,506 2,026
Rental income - 2,750
4,506 4,776
Analysis by fund
Unrestricted funds - 3,010
Restricted funds 4,506 1,766
5 Investments
Unrestricted Total
funds
2021 2020
£ £
Interest receivable 6 -

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

6 Other income

Unrestricted Unrestricted Restricted Restricted Total Unrestricted Unrestricted Restricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Government grant - Job
Retention Scheme 1,230 5,264 6,494 3,615 26,332 29,947
Raising funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Fundraising and publicity
Travel 818 367 1,185 276 74 350
Consultancy 14,985 4,471 19,456 15,055 11,186 26,241
Promotion & publicity 5,403 1,413 6,816 6,119 4,788 10,907
Other staff costs 536 185 721 706 189 895
Staff costs 55,128 16,636 71,764 62,011 21,114 83,125
Depreciation 2,079 520 2,599 2,034 545 2,579
78,949 23,592 102,541 86,201 37,896 124,097

7 Raising funds

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

8 Charitable activities

2021 2020
£ £
Staff costs 247,354 335,080
Depreciation and impairment 6,804 7,395
Other staff costs 2,351 3,073
Events and activities 18,664 6,756
Premises, incl. international 9,104 21,554
Insurance 2,772 3,554
287,049 377,412
Grant funding of activities (see note 9) 102,785 83,402
Share of support costs (see note 10) 49,016 49,117
Share of governance costs (see note 10) 7,413 7,333
446,263 517,264
Analysis by fund
Unrestricted funds 125,838 148,835
Restricted funds 320,425 368,429
446,263 517,264
9 Grants payable
2021 2020
£ £
Grants to institutions:
Innovista Ukraine 36,662 39,008
Innovista Ireland 9,162 4,505
Other 28,680 15,076
74,504 58,589
Grants to individuals 28,281 24,813
102,785 83,402

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

10 Support costs
Support
costs
Governance
costs
Total
2021
Support costs
Governance
costs
Total
2020
£
£
£
£
£
£
Consultancy
17,335
-
17,335
12,237
-
12,237
Telephone and IT
23,353
-
23,353
29,545
-
29,545
Bank charges
1,974
-
1,974
2,179
-
2,179
Legal and professional
fees
1,419
-
1,419
1,367
-
1,367
Postage, printing,
stationery
4,935
-
4,935
3,789
-
3,789
Audit fees
-
5,340
5,340
-
5,340
5,340
Accountancy
-
1,980
1,980
-
1,980
1,980
Other governance costs
-
93
93
-
13
13
49,016
7,413
56,429
49,117
7,333
56,450
Analysed between
Charitable activities
49,016
7,413
56,429
49,117
7,333
56,450

11 Trustees

No Trustee expenses have been incurred.

12 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2021 2020
Number Number
Generating funds 3 3
Charitable activities 9 11
Total 12 14
Employment costs 2021 2020
£ £
Wages and salaries 281,201 368,116
Social security costs 20,615 30,007
Other pension costs 17,302 20,082
319,118 418,205

There were no employees whose annual remuneration was more than £60,000.

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

13 Other
Unrestricted Unrestricted
funds funds
2021 2020
Net loss on disposal of tangible fixed assets 853 315
14 Other gains or losses
Unrestricted Unrestricted
funds funds
2021 2020
£ £
Foreign exchange gains 1,247 272
15 Property, plant and equipment
Office and media
equipment
£
Cost
At 1 January 2021 61,856
Additions 4,793
Disposals (17,711)
At 31 December 2021 48,938
Depreciation and impairment
At 1 January 2021 44,813
Depreciation charged in the year 9,402
Eliminated in respect of disposals (16,858)
At 31 December 2021 37,357
Carrying amount
At 31 December 2021 11,581
At 31 December 2020 17,043

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

16 Trade and other receivables
2021 2020
Amounts falling due within one year: £ £
Other receivables 14,324 9,788
Prepayments and accrued income 5,166 2,982
19,490 12,770
17 Current liabilities
2021 2020
£ £
Other taxation and social security 5,515 11,118
Other payables 4,511 12,219
Accruals and deferred income 8,385 9,296
18,411 32,633

18 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £17,302 (2020 - £20,082).

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

19 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 January resources expended 1 January resources expended 31 December
2020 2021 2021
£ £ £ £ £ £ £ £ £
Thrive Central
General - 96,691 (45,725) (62,966) (12,000) 41,076 (12,502) (16,574) -
Young leaders 8,520 - - (7,267) 1,253 - - (1,253) -
Mentoring - - - - - - - 1,984 1,984
Total Thrive Central 8,520 96,691 (45,725) (70,233) (10,747) 41,076 (12,502) (15,843) 1,984
Thrive Barton
General - 17,872 (26,627) 8,755 - - - - -
Staff funds - 1,812 (1,812) - - - - - -
Young leaders - - (571) 571 - - - - -
Mentoring - 1,566 (3,165) 1,599 - - - - -
Total Thrive Barton - 21,250 (32,175) 10,925 - - - - -

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

19 Restricted funds (Continued)

Thrive Leys
General - 11,079 (55,043) 43,964 - 8,200 (15,126) 6,926 -
Young leaders - - (696) 696 - - - - -
Mentoring - 2,434 (1,163) - 1,271 4,000 (3,287) (1,984) -
includes OCC grant - 1,000 (2,163) 1,434 1,271 4,000 (3,287) (1,984) -
Total Thrive Leys - 13,513 (56,902) 44,660 1,271 12,200 (18,413) 4,942 -
Thrive South Abingdon
General - 31,508 (53,546) 22,038 - 14,188 (21,999) 7,811 -
Staff funds - 363 363 - - 200 (200) - -
Young leaders & Mentoring - - (6,001) 6,001 - - (4,393) 4,393 -
Total Thrive South Abingdon - 31,871 (59,910) 28,039 - 14,388 (26,592) 12,204 -
Online Interactive Learning 19,044 19,064 (21,035) - 17,073 - (11,765) 6,765 12,073
Learning & Impact - - - - - 56,733 (11,754) - 44,979
Eurasia 26,894 100,014 (96,503) 16,606 47,011 152,947 (114,939) - 85,019
Ireland 341 10,574 (10,427) - 488 10,360 (9,769) - 1,079
Other staff funds - 37,485 (37,485) - - 35,381 (35,381) - -
Innovista GB (formerly Innovista UK) 5,871 25,781 (30,508) (597) 547 25,332 (74,001) 48,122 -
Other Restricted funds 42,315 725 (15,655) 1,634 29,019 1,100 (28,901) 14,270 15,488
102,985 356,968 (406,325) 31,034 84,662 349,517 (344,017) 70,460 160,622

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Thrive Teams is an initiative of Innovista that develops young leaders to bring hope and lasting change to disadvantaged communities. The Thrive Barton, Thrive Leys and Thrive South Abingdon funds support the work of the Thrive Teams based in Barton, Blackbird Leys and Greater Leys and South Abingdon, all areas of multiple deprivations in Oxfordshire. Thrive Central is funding given for the work of Thrive Teams across all areas. The work in Barton was handed over to the local church in 2020, and the South Abingdon work was handed over to the church in 2021.

We are incredibly grateful to all our funders. As per their criteria, we would like to specifically acknowledge the grant of £4,000 from Oxford City Council's (OCC) Open Bidding Grants Programme for the Thrive Leys mentoring project. At year end this money was transferred from the Thrive Leys fund to the Thrive Central fund, as we consolidated all Thrive funds together to be used in the Leys.

Transfers have been made from Thrive Central/General funds to cover some costs in South Abingdon and the Leys.

The Online Interactive Learning fund is for the development of new resources to enable the charity to train and equip leaders in remote places where face-to-face training is not possible.

The Learning and Impact fund is for the development of a Learning and Impact Measurement System that will enable Innovista to collect and evaluate quantitative and qualitative data about the outcomes and impact leadership training has on leaders and the communities they are serving.

The Eurasia fund is for the support of the charity’s base in Ukraine and its work in Eastern Europe, Russia and Central Asia and grants are made from this fund to support that work. As explained in note 21, operations in Ukraine are conducted through a separate legal entity registered in Ukraine.

The Ireland fund is for the development of the charity’s work in Ireland. Since 1 January 2016, this work has been conducted through a separate legal entity registered in the Republic of Ireland.

Staff funds are donated toward the cost of salaries and other related expenses for named members of staff or for new staff posts.

The Innovista GB fund (formerly Innovista UK) is for the support of the charity’s training youth workers in areas of multiple deprivation in Great Britain. Transfers have been made from general unrestricted funds to cover some of the Innovista GB costs.

Transfers between funds have been made to cover any deficits in the year.

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

20 Analysis of net assets between funds

Unrestricted Restricted Total Unrestricted
Restricted
Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Fund balances are represented by:
Property, plant and
equipment
2,353		 9,228 11,581 7,295 9,748 17,043
Current
assets/(liabilities)
84,690		 151,394 236,084 21,892 74,914 96,806
87,043 160,622 247,665 29,187 84,662 113,849

21 Related party transactions

Remuneration of key management personnel

The aggregated remuneration and benefits, including employer's pension and social security contributions, of key management personnel is as follows.

2021 2020
£ £
Aggregate compensation 107,188 106,948

The charitable activities carried out in Ukraine are conducted through a separate charitable legal entity registered in Ukraine. The entity's finances are separate from those of Innovista International, although their operations are regularly monitored to ensure they continue to comply with the aims and objectives of Innovista International. Innovista International made grants of £36,662 (2020: £39,008) to Innovista Ukraine in the year.

The charitable activities carried out in Ireland are conducted through a separate charitable legal entity registered in the Republic of Ireland. That entity's finances are separate from those of Innovista International, although their operations are regularly monitored to ensure they continue to comply with the aims and objectives of Innovista International. Innovista International made grants of £9,162 (2020: £4,505) to Innovista Ireland in the year.

Rachel Lane, the wife of Jason Lane, International Director of Innovista International, carried out coaching and training work during 2020, for which she was paid £180. Rachel Lane was not remunerated for any coaching work in 2021.

INNOVISTA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

22 Cash generated from operations 2021 2020
£ £
Surplus/(deficit) for the year 135,063 (7,253)
Adjustments for:
Investment income recognised in statement of financial activities (6) -
Foreign exchange differences (1,247) (272)
Loss on disposal of property, plant and equipment 853 315
Depreciation and impairment of property, plant and equipment 9,403 9,974
Movements in working capital:
(Increase)/decrease in trade and other receivables (6,721) 27,947
(Decrease) in trade and other payables (14,222) (518)
Cash generated from operations 123,123 30,193
23 Analysis of changes in net funds
The charity had no debt during the year.

Our purpose To identify, equip and develop leaders to change their communities with the hope of Jesus. Innovista International Meridian House Sandy Lane West Oxford OX4 6LB UK tel.: +441011865 788350 v¢ww.innovista.org hello innovista.org Innovista Intemational is ￿gIStered in England and Wales as a charity no. 1108679 ènd a company limited by guarantee no. 5371169. We value your privacy. We prorni5e to keep your detsils safe and will never sell them. Need extra ￿3$suranCe? Read our full privacy policy online linnovista.orglprivacyl. You can change how you hear from us at any time- just email hello@innovista.org or call 01865 788350.