Report and financial statements for the year ended 31 December 2024
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REPORT
Innovista has been
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2
What makes Innovista distinctive
1
We grow leaders who follow Jesus into the world
Leaders in Central Asia tell us of a stark ‘sacred/secular’ divide. A local Christian businessman said, “I leave church every Sunday discouraged, because I’m told my work does not matter to God”. Innovista grows leaders who go into the world with the hope of Jesus.
2 We grow leaders who adapt and innovate to lead the Church in mission
Cornel and Maria are entrepreneurial leaders in Moldova, committed to the flourishing of their small town Nisporeni. They lead their church’s youth ministry and have grown a grocery business.
3 We grow leaders with character and skill
Christian leaders in war-time Ukraine don’t only need to learn skills; they need support to keep going with perseverance to love their communities.
4 6 We grow leaders over We grow leaders time, walking with them through training that through failure, success is rooted in scripture, and suffering community and mission
‘Joy’ leads a ministry for women suffering domestic violence in Central Asia. It has been tough to grow a ministry like this. She says, “Innovista started with us when our team was very small, literally we were 6 people, but now we have formed several teams in the regions. Thank you.”
The ‘top-down’, authoritarian leadership model of the Soviet Union still casts a long shadow over Eurasia. We draw emerging leaders to biblical models of servant leadership.
7 We grow leaders to work in teams - men and women, multiple generations, across denominations and sectors
5 We grow leaders through local trainers who deliver in-context training What works in Dublin (Ireland) doesn’t necessarily work in Dushanbe (Tajikistan). Innovista equips local trainers, who know the language and culture, and design resources for their context.
We grow leaders who value their strengths and recognise the need to work in a diverse team to have a significant impact for Jesus. “Now you are the body of Christ, and each one of you is a part of it.” (1 Corinthians 12:27)
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4
GB
Disadvantaged
communities
are often under-
resourced and
under-served by
the Church.
Choosing Ireland Moldova Ukraine Central Asia
and beyond
The Republic of Second poorest War-torn, tired
the tough Ireland is one of country in Europe. and traumatised All five Central Asian
contexts the most rapidly One person leaves population. Now Republics appear in
secularising Moldova every 2 the poorest country the top 50 countries
countries in minutes to find in Europe. Church where Christians are
We maximise our
Europe. work elsewhere. is at the heart of most persecuted.
impact by focusing
meeting community (Open Doors World
on where Christian
needs. “I can’t think Watch List 2025).
leaders are least
of a single church
resourced, missionary
leadership team
efforts are minimal,
which has the same
and the Church is in
membership now
need.
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4
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War-torn, tired and traumatised population. Now the poorest country in Europe. Church is at the heart of meeting community needs. “I can’t think of a single church leadership team which has the same membership now that it had three years ago.” (Anatoliy Sapsay, Innovista Ukraine).
6
Using your support to equip leaders for impact
Everything Innovista does is about making our best contribution to seeing the Mission of God being fulfilled in our time. It’s at the centre of everything we do.
Everything that happens across the Innovista family of ministries is guided by our values:
- y Wise stewardship: Using our resources in ways that bring the most hope and change.
With your support, Innovista identifies, equips and develops Christian leaders working in challenging contexts. Every year, we train and mentor around 1,500 leaders in Britain, Ireland, Moldova, Ukraine, Central Asia and beyond. We help leaders transform people and communities through churches, ministries and enterprises. Inspired by Jesus, we equip leaders to build a better world.
-
y Engaged in context: Context shapes what we do and how we do it.
-
y Inspiring excellence: Serving with distinctive quality.
-
y Effective teamwork: Working with others to go further.
Fuelled by our purpose, and guided by our values, we create change by pursuing sustained, disciplined action. We have captured the key areas of this action in the Innovista Flywheel. Each part of the flywheel is fuelled by the one before, creating a circle of mutually reinforcing activities, that over time lead to sustained momentum and growing impact.
Our work is shaped by our purpose and values, and the good governance that comes from submitting to the Godly women and men of our board of trustees.
Innovista’s purpose is to identify, equip and develop leaders to change their communities with the hope of Jesus.
High quality, practical training helps established and emerging local leaders become more effective. Leading with increased courage, integrity and skill, they equip the Church for mission.
Resources are invested in strengthening the eco-system, so that more Christian leaders are identified, equipped Leaders and developed. catalyse the Create and Church for sustain mission
Create and sustain an ecosystem that grows good leaders s n ’
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People and communities changed
Mission of God
The Church, led by servant leaders, demonstrates and communicates the gospel, and people and communities are transformed.
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Increase resources to invest v
Supporters fuel further growth by praying, volunteering, and giving.
Demonstrate distinctive results, generating deep commitment to the cause
Demonstrating the distinctive and durable impact of well-trained Christian leaders inspires more people to get involved.
8
The Board of Trustees present their Annual Report, together with the audited, consolidated financial statements, for the year ended 31 December 2024.
Train 1,600 Last year we leaders set a number Train leaders of objectives from 12 countries for 2024: Raise £684,000
Trained Trained leaders from 1,713 countries leaders 12
Central Asia 9999 Ireland Moldova Ukraine and beyond 48 Others 173 804 262 414 60 87 485 155 276 28 86 319 107 138 32 3 countries, including Azerbaijan
704,779 generously given
Introduction
From the Chair of Trustees
On behalf of the board of trustees, it is my pleasure to introduce Innovista’s annual report and accounts for 2024. The stories, pictures and financial data in this report represent the fruit of your generosity and hard work. None of this growth and stability could have happened without supporters praying, donors giving and Innovista’s local teams delivering vital training to Christian leaders. We are very grateful for each one of you playing your part in this.
2025 is Innovista’s 25th birthday. It is a good opportunity to reflect on the amazing impact that has come from supporters like you standing with leaders like Slavic in Ukraine, Aneta in Moldova, and Joy in Central Asia. Local leaders have been equipped, and communities that were unreached and under-resourced are now experiencing the hope of Jesus.
At the same time as looking back, we also want to look to the future. The trustees are excited by the vision to provide Innovista’s distinctive support to leaders in 20 countries by the end of 2028, which you can read more about on page 22. Reaching that goal will require a concerted effort from all of us, and growth in all aspects of our team (supporters and staff teams), and we are grateful that you will be alongside us for the journey.
Innovista is a partnership of people that want to see generations of leaders serving God’s mission, helping put the world right. Thank you for being a partner.
Tim Wills @ «
From the
International Director
This week I was at a conference at Oxford University called, “Leadership for Flourishing.” It included academics from some of the world’s most renowned universities, like Harvard.
The premise of this event was that when good leaders are developed, good change follows. Leaders create a ripple effect through the people they equip and serve. Ripples spread and people and communities are changed.
As I listened, I thought of you. Because you are creating ripples of change in some very challenging places. Thank you.
Because of your investment in Christian leaders:
-
y Vulnerable groups, including children and elderly people in Moldova are being cared for by loving communities of Jesus followers.
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y Because of your support, Afghans who are fleeing oppression are finding hope through churches in neighbouring countries.
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y Through your generosity, young people near the front-line in Ukraine have mentors who help them in their grief.
The reality of ripples is that we don’t always see where they go. I recently heard about a woman who was mentored by one of the Central Asian team. The ripple this created included the establishment of eleven nurseries for children with disabilities. This in a country where disabled people are often hidden because they’re considered a source of shame. Can you imagine the difference this makes?
These stories and others like them only happen because of your support. Thank you so much.
With your continued support, more leaders like this will grow. And more people and communities will be changed by the hope of Jesus. Jason Lane Qa -
10
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Celebrating
25 years of
your support
Innovista starts
Innovista starts The Tempo in 2 of the 5
equipping student Leadership Course Central Asian
ministries in Ukraine, starts, helping Republics,
Russia, Latvia and teams to stay to where believers
Belarus. People and transform their face very high
communities start communities. persecution.
to change.
Innovista Moldova
starts, equipping
leaders in what
Ministry starts in
Innovista becomes was Europe’s
hard-to-reach Siberia.
poorest country.
2000
2019
2009
2013
2005 2007
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You can help us start and stay in 8 new countries.
When Russia invades Ukraine, you help us stay, equipping local leaders to serve their communities.
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2025 2028
2019
2022
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Celebrating 25 years we’ve been challenged not to settle. So, with your continued support, we aim to bring Innovista’s distinctive support to leaders in twenty countries by the end of 2028.
Ministry starts in Innovista becomes hard-to-reach Siberia. a fully independent Innovista Ireland starts charity. We start to equipping leaders see that when local where the church is churches change, so under-resourced. do communities.
-
12 UKRAINE Fact file y War-torn, exhausted and traumatised population.
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y Churches and ministry organisations have all suffered loss of people, including key leaders since the full-scale invasion in February 2022.
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y Now the poorest European country. Gross Domestic Product per person is 25% smaller than Moldova, which had been Europe’s poorest country (Source: World Bank).
-
y The Church needs more support to continue to serve as Russia continues its invasion.
How work began In 2003, Innovista Ukraine started in Kyiv, with three Ukrainian staff (including Slavic Karpyuk and Ira Sluchak who are still part of the team). Today, leaders are supported in all areas of the country that are not occupied.
With your support the Innovista Ukraine team is growing to reach more leaders
Because of our generous supporters, grants are supporting communities near the frontline in Kharkiv (above) and Mykolaiv (below)
set Bralet~ DL With the generosity from Innovista’s many supporters, leaders from across OPitesti Alolesti Ukraine have been supported Bo In 2024... Objective met This year we have equipped church planting for 2024
This year we have equipped church planting leadership teams in new locations, like Odesa.
As the catastrophic impact of the war continued to build, it was important to add capacity to the team. Despite the huge challenge of recruiting people, we were able to appoint a new full-time leaderdeveloper. Yana has a background in Psychology, which is very useful as leaders and those they serve grapple with the effects of trauma.
We have met in person with church and charity leaders in frontline locations, including Kherson, which is shelled daily by Russian forces.
Thanks to generous supporters, we have provided financial support to 14 ministries in 10 locations, like the Youth Academy in Kharkiv.
Plan for 2025
We have continued to adapt training to their war-time context. This has included helping teams continually rebuild as men are drafted, and equipping teams to develop new mission initiatives for their communities.
At the request of leaders around Ukraine, we will bring in outside expertise in complex trauma to help stabilise leaders, so, wherever possible, they can continue to serve. In addition, we will work with others to build capacity in Ukraine to support leaders who are traumatised, so they, in turn can help others. This is critical both now and for the post-war period, when the effect of trauma will be seen in full.
We have researched the needs of women leaders and supported 110 women through a women in leadership conference in Kyiv.
Our partnership with the Ukrainian Baptist Theological Seminary (UBTS) continued to develop, with Innovista staff coaching 18 students and UBTS providing space for the Innovista team to work.
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Equipping women to lead is critically
important as the church enters a
fourth year of war
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14 CENTRAL ASIA[and beyond]
-
Fact file
-
y Entire Central Asia region features in top 50 countries where Christians are most persecuted (Open Doors World Watch List 2025).
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y Widespread poverty and highly unreached peoples.
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y There is a significant challenge to develop the next generation of leaders.
How work began
- In 2013, Olya, from Ukraine, moves to one of the Central Asian Republics for 12 months to explore establishing local ministries. ~~She runs pilot training programmes and~~ especially invests in one local woman, Madina*, who becomes the first national director. This is replicated in a neighbouring country and Baha joins the team in 2014. Over time, the team in these countries also invest in leaders from neighbouring countries. Fast forward to 2024, and Anatoliy Sapsay from Innovista Ukraine, is invited to spend a week in Azerbaijan, delivering training and assessing how Innovista can support the work of pioneering local leaders.
With your support, Anatoliy (standing, top right) equips pioneering leaders in Azerbaijan
Innovista’s Anatoliy Sapsay (left) and Jason Equipping teams of women leaders to Lane (right) visit Christian leaders serving bring hope to their communitiescommunities near the front line in kraine.
Jesus often taught his disciples as they ate together and, with your support, the Innovista Central Asia team do likewise
In 2024...
We continued to support leaders who are reaching new locations, including through sports ministry and church planting.
We continued our partnership with a national-regional ministry working with vulnerable women and their children, through mentoring leaders and teams.
Twenty five senior leaders from national and regional ministries gathered for a three-day intensive ‘strategy masterclass’. Time together created new solutions to old problems, including how to provide secure space for a growing ministry whose work was under threat.
Thanks to a generous charitable trust, we equipped small groups of Christians to lead with distinction in their workplaces. This locally developed initiative, was born out of a recognition that churches are often not equipping Jesus-followers to lead well in the places where they spend most of their time.
Gathering teams of leaders together enables them to learn from one another and develop authentic, local solutions
Objective met for 2024
We said that we’d conclude our in-depth research into the barriers and enablers for women in leadership, which will then inform our work to strengthen women who serve in challenging contexts. The completed research heard from several women leading in Central Asia and their lived experience has informed our next steps significantly.
Plan for 2025
We will further explore how Innovista should serve in Azerbaijan, through research, conversations with a range of organisations, training (in-person and online) and a gathering of emerging and established leaders who are committed to pioneering mission in a variety of locations.
16
MOLDOVA
Fact file
-
y Second poorest country in Europe, only neighbouring Ukraine is poorer now – because of war.
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y Hospitable Moldovans hosted 1.8m Ukrainian refugees – the highest per capita of any country.
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y Most church and ministry leaders are volunteers or bi-vocational.
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y Every 2 minutes one person leaves Moldova in search of employment and better prospects.
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y Politically vulnerable – the region of Transnistria – a narrow strip of land between the Dniester River and the Ukrainian border is recognised internationally as part of Moldova, yet occupied by Russia.
How work began
Innovista was first invited to Moldova in 2015, by leaders from Operation Mobilisation and Beginning of Life. Following the positive impact of initial work together, OM Moldova hosted 24 church and charity leaders to pilot the Tempo leadership course in Romanian in 2018. As a result of the impact, in 2019 Innovista Moldova was born, led by Maricela who was a graduate of that first Tempo cohort.
With your support, Aneta (left), is leading a project that encourages children to pursue their education and find hope
Entrepreneurial Christian leaders, like Cornel, are sharing Jesus and creating job opportunities
In 2024...
We made leader-development more accessible to leaders in the regions of Moldova, where resources and training are in especially short supply.
This shift resulted in more support for leaders who are reaching some of the most vulnerable in Moldova – including children and the elderly who are often left behind when parents migrate.
We continued to support ministries to Ukrainian refugees by bringing partners together.
We were part of a steering group, working across denominations and sectors, to deliver holistic support to Ukrainian refugees.
Leaders are developing projects that reach the most vulnerable in their community
Objective met for 2024
We said we would complete research into the barriers and enablers of women in leadership, and apply that learning in Moldova too. Local woman leaders have helped shape the tools and resources to better equip women to use their gifts to serve God’s mission, alongside their male counterparts.
Plan for 2025
The focus will be on emerging leaders and those in their first senior leadership roles. 90% of resources will be invested in leaders under the age of 35. There will be a specific focus on Christian entrepreneurs, because job creation enables the Christian community to offer young people the chance to build a life – and God’s Kingdom – at home, rather than emigrate.
With your support, Innovista Moldova is working in partnership with others, like Operation Mobilisation, to build a better world
18 IRELAND
Fact file
-
y The Republic of Ireland is one of the most rapidly secularising countries in Europe, and the youngest population in the EU.
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y Alongside distrust of religion there is a spiritual yearning, with growth among migrant, pentecostal and evangelical churches.
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y Resources are unevenly shared; Ulster has one youth worker for every 2,821 young people, but in Munster it’s one youth worker to every 21,120 young people.
How work began
In 2009, after consulting with a range of church leaders, Sam Moore moved to Dublin to start Innovista Ireland. Initially the work focused on developing young leaders and a youth leadership resource. The team has grown to four, focusing on equipping church leaders in the greater Dublin region and the North West. In recent years, online tools have enabled leaders from across the island to access training and coaching opportunities.
Leaders equipped to bring the hope of Jesus to their communities by Ann-Marie
In 2024...
With evangelical Christians comprising less than 2% of the population, resources remain scarce. Building partnerships takes time but plays a crucial role in the work. Innovista Ireland’s training brings together leaders from different church backgrounds across the island, enabling development of relationship and providing opportunities for further partnership.
Innovista Ireland partnered with Praxis last year to create the Seol Course. It’s a mission course designed by Irish leaders for the Irish church. Innovista Ireland trained 56 facilitators who have run the course with over 250 people from 14 churches. The course helps Christians reimagine how to join God’s mission in their communities and daily lives.
Through the Tempo leadership course, leaders in Donegal and Coleraine are gaining the tools to lead youth mission more effectively.
Working with a church in the North West, Innovista Ireland ran the Find Your Place course for 23 young adults. The course helped them understand God’s mission and discover their role within it.
An online Coaching Course equipped leaders from across Ireland with skills to better empower and develop others.
Innovista Ireland trainers led a learning community that brought together church leaders from Derry, Belfast and Dublin. Together, they explored practical ways to reshape church life around mission.
Innovista Ireland provided expertise to other leadership teams, facilitating and enabling them to steward their resources well and grow. CAP Ireland’s board and CEO asked for help to create a strategic plan for the next three years. Help with planning and reflection was also given to leadership teams from 24-7 Prayer Dublin and local churches.
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Younger people reimagining
mission on the Seol Course
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Objective met for 2024
We said that we would strengthen the organisation by adding a new role to the senior leadership team. We fulfilled this by recruiting Sam Moore, the national director of Innovista Ireland, to become Innovista International’s Director of Leadership Development. This has added important capacity.
Plan for 2025
Good leadership involves handing over well. In 2025, Innovista will appoint a new National Director for Ireland. After a thorough onboarding process and time spent understanding the context and relationships, the new leader will begin shaping a strategic plan to grow Innovista’s work in Ireland sustainably.
Your partnership with us enables us to achieve more by partnering with others like Arrow, Thrive Ireland and the Praxis Movement
Provide Serve leaders Innovista’s in more tough distinctive places through in 1m support to sustained countries per year leaders income of
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22
The world needs good leaders: Men and women who serve God’s transforming mission in the world. Leaders who serve with character and skill. Leaders who equip the whole church so that everyone can play their part.
The world needs more leaders like this, especially in the places that Innovista works. As we approached our 25[th] birthday we were challenged not to settle but to be bold.
So, we set a big goal for the next four years. One that, if realised, will see more Christian leaders serving in challenging contexts – where they are needed most:
By 31 December 2028 To provide Innovista’s distinctive support to leaders in 20 countries.
We will work with some of the least resourced leaders who work in some of the most challenging places...
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y Leaders who are isolated, unseen or even ignored, will discover that they are not alone
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y The pioneers, innovators and
-
entrepreneurs will be reminded that they are not mad
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y The leaders who serve with quiet determination – who are models of faithfulness – will be supported and celebrated
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y We will grow leaders through distinctive training that is rigorous, practical and rooted in God’s transforming mission
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y ‘Light bulb’ moments and ‘aha’ moments and ‘I wish I knew this 20 years ago’ moments will be frequent
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y Steady sustained growth over time, will surprise people when they look back and see how far they have come
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y We will walk with leaders, providing wise support at critical moments in their journey
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y We will avoid the traps of quick fixes and superficial solutions
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y We will convene leaders across damaging divides – including denominations and generations. We will see more of the beauty of women and men working together, celebrating and supporting one other
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y The leadership of gifted women will be released for the good of the world
As leaders serve...
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y God’s good news will be communicated with courage and creativity
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y People will find forgiveness, reconciliation, comfort, hope
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y Churches will come alive as people find their place in God’s mission
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y Churches will flourish through multiple generations of leaders
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y Communities will be better because the Church is there – being the church - every day of the week and in every sphere of society
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y People will follow Jesus in surprising places
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y Some of the leaders we support will be asked to help solve the biggest problems in society
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y Darkness will be pushed back as the light of Christ shines through these little communities...called the Church
Providing Innovista’s distinctive support in 20 countries by the end of 2028, will need us to gather more generous supporters who fuel this work through their prayers and giving. Serving leaders in more tough places will need a sustained income of £1 million per year.
To achieve this by the end of 2028, in 2025 we will…
Build capacity in existing national teams
With your support, the capacity and capability of national teams will be strengthened. This will include helping them to raise resources in ways that fit the local context; investing in specialist leadership development capabilities such as advanced coaching skills; strengthening systems and processes to support efficient operations.
Start work in new countries
With your help, we aim to begin work in several new countries during 2025. This will follow a staged process of assessment and development conducted with local Christian leaders who have asked for Innovista’s support. Each stage will be carefully monitored and reviewed. Progression to the next stage of the four-stage process will only happen if the previous stage is completed and adequate resources are available.
Develop the network of leaderdevelopers
With strategic investment, we will further invest in nationals who are called to grow leaders to serve God’s mission. This network is growing and includes people from a range of ministries who want to ‘plug in’ to Innovista’s support. Specifically, we aim to develop a systematic training process and launch some online tools for leaderdevelopers to use.
- y Leaders will tell their friends and colleagues about the difference we have made – not because we need to be lauded, but because of the distinctive support we provide
With your help, we will grow more leaders through distinctive, practical training, like this leadership team in Nizhyn, Ukraine
24
Structure, governance and management
Organisation
Fundraising and compliance
Innovista International is a charitable company limited by guarantee, governed by its Memorandum and Articles of Association. 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 of £1 each towards the liabilities of the charitable company in the event of liquidation.
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. When consultants are used, they 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 the Fundraising Regulator’s Code of Fundraising Practice. Two of our team are also members of the Chartered Institute of Fundraising.
No complaints were made in 2024 regarding our fundraising. We do most of our fundraising by email, which is augmented by direct mail campaigns twice a year. 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 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.
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.
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.
Day-to-day administration of the charity is delegated to the International Director, and the Executive Team, under the supervision of the trustees. Decision-making powers are retained by the trustees and exercised at regular trustees’ meetings, of which there are a minimum of three each year.
Leadership and administrative information
Trustees/Directors
Objectives
The Board of Trustees is responsible for ultimate strategic decisions. The Board of Trustees who were in office during the year and up to the date of signing were:
Our governing document states that our overall objectives are to:
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y Advance the Christian faith through our words and actions.
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y Tim Wills (Chair)
-
y Claire Goodman
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y Advance education through training that helps people become better leaders.
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y Stuart Weekes
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y Richard Myers
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y Geraldine Payne (from June 2024)
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y Promote community capacitybuilding by equipping leaders and potential leaders in disadvantaged communities*.
Executive Team
The Board has delegated day-today operational decisions to the Executive Team. The team in place during the year were:
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y Prevent and relieve poverty by providing training and resources to people in need.
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y Jason Lane, International Director
-
Disadvantaged communities/people that are in the lowest 20% of the Index for Multiple Deprivations or equivalent.
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y Hannah Burnham, Director of Development
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y Sam Moore, Director of Leadership Development (from November 2024)
Charity number
1108679
Company number
Caring for Creation
05371169
Principal address and registered office
Innovista remains committed to caring for the environment in light of the climate crisis. As part of our commitment to good stewardship, we have reduced our flights from pre-pandemic levels, and we also offset (as standard) the environmental impact through the organisation Climate Stewards (www.climatestewards. org). We plan to strengthen this policy and practice in 2025.
Suite 143, 266 Banbury Road, Oxford, OX2 7DL
Auditor
Caladine Ltd, Chantry House, 22 Upperton Road, Eastbourne, BN21 1BF
Bank
HSBC PLC, 65 Cornmarket Street, Oxford, OX1 3HY
26
Financial Review
Income and expenditure
carry out their charitable activities in those countries, in the context of agreed country strategies.
Our income for 2024 was £704,779, a 17% increase on last year. We received significantly more from trusts and foundations, as we continue to deepen partnership with longstanding funders. We also saw a 9% increase in giving from major donors, but as some of them choose to donate through a trust or foundations, this isn’t reflected in the Individuals’ income line. We are incredibly grateful to everyone who gave in 2024.
Grants are also made to non-Innovista affiliated entities where these contribute to Innovista’s purpose and align with our values. Appropriate reporting of use of funds is required and monitoring is carried out on a regular basis.
In 2024, 14 grants were provided to respond to the on-going needs arising from the Ukraine war. These were given to institutions and individuals in the country according to a policy developed to guide the process in this emergency situation. Priority was given to those we already had an existing relationship with. Grants were made at the request of Innovista Ukraine, which formally assessed and approved project proposals against a set of agreed criteria, before then following up with a designated monitoring process.
Expenditure in 2024 was £725,609, a 4% decrease on last year.
We anticipate that our income for 2025 will be higher than in 2024, having budgeted for an income of £798,255. An expenditure budget of £811,830 has been set for 2025, which includes carrying forward the restricted reserves (see below).
Grants
Reserves
Much of Innovista’s work is undertaken through making grants to partner organisations and individuals. Innovista Ukraine, Innovista Ireland and Innovista Moldova are separate legal entities to which monthly grants are made to enable them to
The final fund at the end of the reporting period was £250,842, of which £193,288 were restricted funds. Additional details about our restricted funds can be found in note 19 of the financial statements.
==> picture [189 x 203] intentionally omitted <==
----- Start of picture text -----
18 [%]
Cost of
raising funds 30 [%]
Training
leaders and
12 [%] humanitarian grants
Support
costs
40 [%]
Designing
programmes
equipping trainers,
strategic oversight
Expenditure
----- End of picture text -----
==> picture [321 x 192] intentionally omitted <==
----- Start of picture text -----
6 [%]
Businesses
1 [%]
5 [%] Other
Churches
14
MISSION
GRANTS
TO CHURCHES AND
MINISTRIES NEAR
THE FRONT LINE IN
UKRAINE
41 [%] 47 [%] SENT IN TOTAL
Individuals Trusts
$70,000
Ranging from
$500 to $10,000
----- End of picture text -----
Income
£704,779
£725,609
Innovista International has a policy of retaining reserves amounting to between 60 and 90 days of normal operating costs, in order to finance its planned activities and meet its future financial obligations. Based on current expenditure levels, an unrestricted reserve of £150,000 is to be maintained.
Unrestricted reserves at the end of 2024 stood at £57,554, which is a very similar position to last year. Although below the desired level, the trustees will continue to monitor the situation over the next 12 months, in order to maintain reserves in line with the agreed policy.
Trustees’ Responsibility Statement
The trustees, who are also directors of the charity for the purposes of the Companies Act, have prepared this report to meet the requirements for a directors’ report and accounts for the purposes of company law. The trustees have complied with section 17 of the Charities Act 2011 in having regard to guidance published by the Charity Commission concerning public benefit.
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.
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:
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.
-
y Select suitable accounting policies and then apply them consistently
-
y Observe the methods and principles in the Charities Statement of Recommended Practice
In so far as the trustees are aware:
-
y There is no relevant audit information of which the charity’s auditor is unaware
-
y Make judgements and estimates that are reasonable and prudent
-
y They have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information
-
y State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
This report is prepared in accordance with the small companies’ regime under the Companies Act 2006.
- y Prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the charity will continue in operation
Tim Wills Chair of the Board of Trustees 24 July 2025
4[%] on last year
17[%] on last year
28
Independent auditor’s report to the members of Innovista International
obtained is sufficient and appropriate to provide a basis for our opinion.
Opinion
We have audited the financial statements of Innovista International (the ‘charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
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.
In our opinion, the financial statements:
- y give a true and fair view of the state of the charitable company’s affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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.
-
y have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
y have been prepared in accordance with the requirements of the Companies Act 2006.
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 the provisions available for small entities, in the circumstances set out in note 25 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have
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:
-
y the information given in the trustees’ report for the financial year for which the financial statements are prepared, which includes the directors’ report prepared for the purposes of company law, is consistent with the financial statements; and
-
y the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements.
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:
-
y adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
y the financial statements are not in agreement with the accounting records and returns; or
-
y certain disclosures of trustees’ remuneration specified by law are not made; or
-
y we have not received all the information and explanations we require for our audit; or
-
y the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.
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 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 noncompliance with laws and regulations, was as follows:
-
y the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise noncompliance with applicable laws and regulations;
-
y we identified the laws and regulations applicable to the charity through
Independent auditor’s report
30
discussions with trustees, and from our commercial knowledge and experience of the charity sector;
-
y we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Companies Act 2006, Charities Act 2011 and employment legislation;
-
y we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
-
y identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
-
y making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
-
y considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
Audit response to risks identified
To address the risk of fraud through management bias and override of controls, we:
-
y performed analytical procedures to identify any unusual or unexpected relationships;
-
y tested journal entries to identify unusual transactions;
-
y assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
-
y investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-
y agreeing financial statement disclosures to underlying supporting documentation;
-
y reading the minutes of meetings of those charged with governance;
-
y enquiring of management as to actual and potential litigation and claims; and
-
y reviewing correspondence with HMRC and relevant regulators.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. 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 correspondence, 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 collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor’s report.
Mr Colin James Dadswell FCCA (Senior Statutory Auditor) for and on behalf of Caladine Limited
31 July 2025
Chartered Certified Accountants Statutory Auditor
Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF
Statement of financial activities including income and expenditure account for the year ended 31 December 2024
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | |
| Notes | £ | £ | £ | £ | £ | £ |
| Income from: | ||||||
| Donations and legacies 3 Charitable activities 4 Investments 5 |
344,550 - 2,654 |
356,565 1,010 - |
701,115 1,010 2,654 |
321,759 600 3,635 |
276,607 165 - |
598,366 765 3,635 |
| Total income | 347,204 | 357,575 | 704,779 | 325,994 | 276,772 | 602,766 |
| Expenditure on: Raising funds 6 Charitable activities 7 |
103,189 197,019 |
25,797 399,604 |
128,986 596,623 |
85,689 228,731 |
22,777 415,671 |
108,466 644,402 |
| Total expenditure | 300,208 | 425,401 | 725,609 | 314,420 | 438,448 | 752,868 |
| Net income/ (expenditure) Transfers between funds 19 Other recognised gains and losses: Other gains/(losses) 14 |
46,996 (46,747) 44 |
(67,826) 46,747 - |
(20,830) - 44 |
11,574 (66,353) (3,296) |
(161,676) 66,353 - |
(150,102) - (3,296) |
| Net movement in funds 10 Reconciliation of funds: Fund balances at 1 January 2024 |
293 57,261 |
(21,079) 214,367 |
(20,786) 271,628 |
(58,075) 115,336 |
(95,323) 309,690 |
(153,398) 425,026 |
| Fund balances at 31 | 57,554 | 193,288 | 250,842 | 57,261 | 214,367 | 271,628 |
| December 2024 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
32
Statement of financial position as at 31 December 2024
| Statement of financial position as at 31 December 2024 |
Statement of financial position | Statement of financial position | ||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Notes Fixed assets Property, plant and equipment 15 Current assets Trade and other receivables 16 Cash at bank and in hand |
£ 12,878 245,206 |
£ 15,844 |
£ 57,633 220,149 |
£ 21,531 |
| Current liabilities 17 |
258,084 (23,086) |
277,782 (27,685) |
||
| Net current assets | 234,998 | 250,097 | ||
| Total assets less current liabilities | 250,842 | 271,628 | ||
| The funds of the charity Restricted income funds 19 Unrestricted funds 20 |
193,288 57,554 |
214,367 57,261 |
||
| 250,842 | 271,628 |
Statement of cash flows for the year ended 31 December 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes Cash flows from operating activities Cash generated from/(absorbed by) operations 23 Investing activities Purchase of property, plant and equipment Investment income received |
£ (1,259) 2,654 |
£ 23,662 |
£ (19,566) 3,635 |
£ (183,966) |
| Net cash generated from/(used in) investing activities |
1,395 | (15,931) | ||
| Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year |
25,057 220,149 |
(199,897) 420,046 |
||
| Cash and cash equivalents at end of year | 245,206 | 220,149 |
The financial statements were approved by the trustees on 24 July 2025
Tim Wills Trustee
Company registration number 05371169 (England and Wales)
34
Notes to the financial statements for the year ended 31 December 2024
1 Accounting policies
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Company information
Innovista International is a private company limited by guarantee incorporated in England and Wales. The registered office is Suite 143, 266 Banbury Road, Oxford, OX2 7DL.
Restricted funds are subject to specific conditions by donors or grantors 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.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity’s Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
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.
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.
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.
1.2 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.
Assets for distribution are recognised only when distributed. Assets given for use by the charity are recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes.
1 Accounting policies (Continued)
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.
The charity makes grants to various organisations and individuals to further its charitable objects. Innovista Ukraine, Innovista Ireland and Innovista Moldova are separate legal entities to which monthly grants are made to enable them to carry out their charitable activities in those countries.
Grants are also made to non-Innovista affiliated entities where these share similar aims, objectives and ethos. Appropriate reporting of use of funds is required and monitoring is carried out on a regular basis.
Since the outbreak of the full-scale invasion of Ukraine in 2022, grants to institutions and individuals in that country that were responding to needs arising from the conflict have constituted a significant proportion of grants given. A policy was developed to guide grantmaking in this emergency situation. Applications are mainly made via Innovista Ukraine who filter the requests according to established criteria and make recommendations for funding. Recipients must commit to providing:
-
y a project proposal outlining the need;
-
y details of a bank account that can receive foreign currency;
-
y confirmation of receipt of grant;
y a report on how the grant was used.
Priority is given to entities with which the charity has an existing relationship, and to those in areas closest to the frontline of the war.
1.6 Property, plant and equipment
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
36 Notes to the financial statements
1 Accounting policies (Continued)
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.
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.
Actual results may differ from these estimates.
2 Critical accounting estimates and judgements
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.
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.
3 Income from donations and legacies
| Unrestricted funds Restricted funds Total Unrestricted funds Restricted funds Total 2024 2024 2024 2023 2023 2023 £ £ £ £ £ £ |
|
|---|---|
| Donations and gifts | 344,550 356,565 701,115 321,759 276,607 598,366 |
| Donations and gifts | |
| Businesses and Community Organisations |
14,930 28,480 43,410 21,991 4,205 26,196 |
| Churches | 9,245 26,215 35,460 8,303 28,502 36,805 |
| Individuals (including tax reclaim under gift aid) |
216,575 74,826 291,401 200,565 136,864 337,429 |
| Trusts and foundations | 103,800 227,044 330,844 90,900 107,036 197,936 |
| 344,550 356,565 701,115 321,759 276,607 598,366 |
4 Charitable activities
| 2024 £ |
2023 £ |
|
|---|---|---|
| Training courses and events | 1,010 | 765 |
| Analysis by fund | ||
| Unrestricted funds | - | 600 |
| Restricted funds | 1,010 | 165 |
38 Notes to the financial statements
5 Income from investments
| 5 Income from investments |
|
|---|---|
| Unrestricted funds Unrestricted funds 2024 2023 £ £ |
|
| Interest receivable | 2,654 3,635 |
6 Expenditure on raising funds
| Fundraising and publicity | Unrestricted funds Restricted funds Total Unrestricted funds Restricted funds Total 2024 2024 2024 2023 2023 2023 £ £ £ £ £ £ |
|---|---|
| Staging fundraising events | 1,391 348 1,739 444 209 653 |
| Fundraising agents | 6,400 1,600 8,000 7,452 1,515 8,967 |
| Advertising | 6,523 1,631 8,154 6,637 1,705 8,342 |
| Other fundraising costs | 1,092 273 1,365 1,302 325 1,627 |
| Staff costs | 86,525 21,631 108,156 68,839 18,769 87,608 |
| Depreciation and impairment |
1,258 314 1,572 1,015 254 1,269 |
| 103,189 25,797 128,986 85,689 22,777 108,466 |
7 Expenditure on charitable activities
| 7 Expenditure on charitable activities |
||
|---|---|---|
| Direct costs | Charitable activities 2024 £ |
Charitable activities 2023 £ |
| Staff costs | 227,714 | 225,026 |
| Depreciation and impairment | 5,374 | 3,853 |
| Other staff costs | 12,560 | 6,877 |
| Events and activities | 33,336 | 45,803 |
| Premises, incl. international | 6,412 | 5,176 |
| Insurance | 3,821 | 3,893 |
| 289,217 | 290,628 | |
| Grant funding of activities (see note 8) | 217,076 | 236,259 |
| Share of support and governance costs (see note 9) | ||
| Support | 81,990 | 109,835 |
| Governance | 8,340 | 7,680 |
| Analysis by fund | 596,623 | 644,402 |
| Unrestricted funds | 197,019 | 228,731 |
| Restricted funds | 399,604 | 415,671 |
| 596,623 | 644,402 |
8 Grants payable
| 8 Grants payable |
|
|---|---|
| Grants to institutions: | Charitable activities Charitable activities 2024 2023 £ £ |
| Innovista Ukraine | 65,792 50,658 |
| Innovista Ireland | 7,932 17,304 |
| Innovista Moldova | 61,790 60,746 |
| Ukraine church partners | 63,311 72,674 |
| 198,825 201,382 |
|
| Grants to individuals | 18,251 34,877 |
| 217,076 236,259 |
40 Notes to the financial statements
9 Support costs allocated to activities
| 9 Support costs allocated to activities |
|
|---|---|
| Charitable activities Total 2024 2023 £ £ |
|
| Consultancy | 46,756 72,221 |
| Telephone and IT | 25,626 27,736 |
Bank charges |
2,322 2,331 |
| Legal and professional fees | 1,585 1,650 |
| Printing, postage and stationery | 5,701 5,897 |
| Governance | 8,340 7,680 |
| Governance costs comprise: | 90,330 117,515 |
| 2024 2023 £ £ |
|
| Audit fees | 5,940 5,620 |
| Accountancy | 2,400 2,060 |
| 8,340 7,680 |
10 Net movement in funds
| The net movement in funds is stated after charging/(crediting): Fees payable to the charity’s auditor: |
2024 £ |
2023 £ |
|---|---|---|
| • for the audit of the charity’s fnancial statements | 5,940 | 5,620 |
| • for other fnancial services | 2,400 | 2,060 |
| Depreciation of owned property, plant and equipment | 6,946 | 5,131 |
11 Trustees
No trustees received any remuneration in the year or were reimbursed any expenses during the year (2023: one trustee was reimbursed £118 for travel expenses).
12 Employees
| 12 Employees |
|
|---|---|
| The average monthly number of employees during the year was: | 2024 Number 2023 Number |
| Generating funds | 3 2 |
| Charitable activities | 7 7 |
| Total Employment costs |
10 9 |
| 2024 2023 £ £ |
|
| Wages and salaries | 292,226 273,922 |
| Social security costs | 23,886 20,721 |
| Other pension costs | 19,758 17,991 |
| 335,870 312,634 |
There were no employees whose annual remuneration was more than £60,000.
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.
==> picture [509 x 289] intentionally omitted <==
----- Start of picture text -----
2024 2023
£ £
Aggregate compensation 138,697 86,473
13 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable
purposes.
14 Other gains or losses
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Foreign exchange gains/(losses) 44 (3,296)
----- End of picture text -----
42 Notes to the financial statements
15 Property, plant and equipment
| 15 Property, plant and equipment |
|
|---|---|
| Cost | Offce and media equipment £ |
| At 1 January 2024 | 55,167 |
| Additions | 1,259 |
| Disposals | (3,977) |
| At 31 December 2024 Depreciation and impairment |
52,449 |
| At 1 January 2024 | 33,636 |
| Depreciation charged in the year | 6,946 |
| Eliminated in respect of disposals | (3,977) |
| At 31 December 2024 Carrying amount |
36,605 |
| At 31 December 2024 | 15,844 |
| At 31 December 2023 | 21,531 |
16 Trade and other receivables
| Amounts falling due within one year: | 2024 2023 £ £ |
|---|---|
| Other receivables | 7,601 46,473 |
| Prepayments and accrued income | 5,277 11,160 |
| 12,878 57,633 |
17 Current liabilities
| 2024 2023 £ £ |
|
|---|---|
| Other taxation and social security | 6,884 6,160 |
| Other payables | 7,130 11,058 |
| Accruals and deferred income | 9,072 10,467 |
| 23,086 27,685 |
18 Retirement benefit schemes
| 18 Retirement beneft schemes |
|
|---|---|
| Defned contribution schemes | 2024 2023 £ £ |
| Charge to proft or loss in respect of defned contribution schemes | 19,758 17,991 |
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.
19 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
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At 1 January Incoming Resources Transfers At 31 December
2024 resources expended 2024
£ £ £ £ £
-
Ukraine emergency 145,668 11,043 (160,680) 3,969
Eurasia 62,974 282,831 (201,965) 39,263 183,103
Ireland - 10,931 (10,931) - -
Other staff funds - 26,304 (26,304) - -
Innovista GB - 11,400 (14,915) 3,515 -
Other restricted funds 5,725 15,066 (10,606) - 10,185
214,367 357,575 (425,401) 46,747 193,288
Previous year: At 1 January Incoming Resources Transfers At 31 December
2023 resources expended 2023
£ £ £ £ £
-
Ukraine emergency 200,357 122,253 (176,942) 145,668
Eurasia 96,078 83,207 (162,846) 46,535 62,974
Ireland 1,036 10,666 (11,702) - -
Other staff funds - 27,806 (27,806) - -
Innovista GB - 12,200 (32,018) 19,818 -
Other restricted funds 12,219 20,640 (27,134) - 5,725
309,690 276,772 (438,448) 66,353 214,367
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The Ukraine emergency fund was started following the full-scale invasion of Ukraine in February 2022. Funds were used to support Christian leaders in Ukraine, which included the making of grants to churches who were responding to humanitarian needs in their communities.
44 Notes to the financial statements
19 Restricted funds (Continued)
The Eurasia fund is for the support of the charity’s bases in Ukraine and Moldova, and its work in Central Asia. Grants are made from this fund to support that work. As explained in note 22, operations in Ukraine and Moldova are conducted through separate legal entities registered in those countries. The transfer of £39,263 primarily represents monies from unrestricted funds to cover a deficit on restricted funds specifically for Moldova.
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.
21 Analysis of net assets between funds (Continued)
| At 31 December 2023: | Unrestricted funds Restricted funds Total 2023 2023 2023 £ £ £ |
|---|---|
| Property, plant and equipment | 20,351 1,180 21,531 |
| Current assets/(liabilities) | 36,910 213,187 250,097 |
| 57,261 214,367 271,628 |
The Innovista GB fund is for the training of Christian leaders working in areas of multiple deprivation in Great Britain.
Other transfers from unrestricted funds have been made in the year to cover any deficits in any of the restricted funds.
20 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 January 2024 £ |
Incoming resources £ |
Resources expended £ |
Transfers £ |
Gains and losses £ |
At 31 December 2024 £ |
|
|---|---|---|---|---|---|---|
| General funds | 57,261 | 347,204 | (300,208) | (46,747) | 44 | 57,554 |
| Previous year: | At 1 January 2023 £ |
Incoming resources £ |
Resources expended £ |
Transfers £ |
Gains and losses £ |
At 31 December 2023 £ |
| General funds | 115,336 | 325,994 | (314,420) | (66,353) | (3,296) | 57,261 |
22 Related party transactions
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 £65,792 (2023: £50,658) 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 £7,932 (2023: £17,304) to Innovista Ireland in the year.
The charitable activities carried out in Moldova are conducted through a separate charitable legal entity registered in Moldova. 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 £61,790 (2023: £60,746) to Innovista Moldova in the year.
Rachel Lane, spouse of International Director Jason Lane, received £660 (2023: £220) for the provision of coaching services during the year.
21 Analysis of net assets between funds
| At 31 December 2024: | Unrestricted funds Restricted funds Total 2024 2024 2024 £ £ £ |
|---|---|
| Property, plant and equipment | 15,203 641 15,844 |
| Current assets/(liabilities) | 42,351 192,647 234,998 |
| 57,554 193,288 250,842 |
46 Notes to the financial statements
23 Cash generated from/(absorbed by) operations
| 2024 2023 £ £ |
|
|---|---|
| Defcit for the year | (20,830) (150,102) |
| Adjustments for: | |
| Investment income recognised in statement of fnancial activities | (2,654) (3,635) |
| Foreign exchange differences | 44 (3,296) |
| Depreciation and impairment of property, plant and equipment | 6,946 5,131 |
| Movements in working capital: | |
| Decrease/(increase) in trade and other receivables | 44,755 (29,373) |
| (Decrease) in trade and other payables | (4,599) (2,691) |
| Cash generated from/(absorbed by) operations | 23,662 (183,966) |
24 Analysis of changes in net funds
The charity had no material debt during the year.
25 Non-audit services provided by auditor
In common with many businesses of our size and nature we use our auditor to assist with the preparation of the financial statements.
Contents
What makes Innovista distinctive ................................................... 2 Choosing the tough contexts............................................................. 4 How Innovista works ............................................................................... 6 Introductions ............................................................................................... 8 Celebrating 25 years of your support ............................................. 10 Ukraine ............................................................................................................ 12 Central Asia and beyond ....................................................................... 14 Moldova ........................................................................................................... 16 Ireland .............................................................................................................. 18 Vision 2028 .................................................................................................... 20 Structure, governance and management .................................. 24 Leadership and administrative information .............................. 25 Financial Review ....................................................................................... 26 Trustees’ Responsibility Statement ................................................ 27 Independent auditor’s report ............................................................ 28 Statement of financial activities ....................................................... 31 Statement of financial position ......................................................... 32 Statement of cash flows ........................................................................ 33 Notes to the financial statements ................................................... 34
Front page: With your support, Raisa, Marina and Sergiu are helping vulnerable elderly people in Moldova whose family members have left town to find work elsewhere
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Generations of leaders serving God’s mission, helping put the world right
Innovista International
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