2023-12-31-accounts

Innervatlon Trust Limited IA Company Limited by Guarantee) Trustees, Annual Report and Unaudited Financial Statements Year Ended 31st December 2023 Company Number 06727979 Reglstered Charlty Number 1131757 ising pop

Innervation Tnnt Lknlt•d Pages Tru5tees' Annual Report 2tolO Report of the Independent Examiner Ilto12 Statement of Financial Activitles 13 Balance Sheet 14 Notes to the Financlal Statements 1Sto28

Inn¢￿tIon Tnwt Lknl Trustees, Annual Report Year Ended 31° December 2023 The Trustees present their report together with the financial statements of the charity for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 2 Ipage 15) and comply with the Charit¢s Trust Deed, the Charitie5 Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practlce applicable to charities preparingtheir accounts in accordan￿ with rhe Flnancial Reportlng Standard applicable in the UK and Republic of Ireland IFRS1021 leffectlve January 20191 and applicable law. Reference and Admln15tratlve Information Registered Name: Innervatlon Trust Llmlted Charity Number: 1131757 Re8lStered and Prlncipal Office: Untt 27 Cotteswold Dairy Dalry Way Tewkesbury Gloucestershlre GL20 8JE Company Number: 06727979 Trustees/Dlrectors'. 81shop Roger Morris Ichairnianl Helen Springett Rev Mark Badger William Mansell Phillip Simpson Bankers: National We5trninster Bank 10 Great Underbank Stockport SKI ILL Independent Examiner- Ellzabeth Eyre FCA Elizabeth Eyre Limited 6 Bank Street Malvern WR14 2JN Key Management: Miriam Porter {Operational Director of iSingPOPI Becki Ross (Operations Manager) Lorraine Pearx)n (o￿lce Manager) Sandy Murray (Head of Finan￿)

Innervation Tyusi Unthd Trttst￿ Annual Report Year Ended 31 De￿nber 2023 Objectives and Artlvlties The object of the charity. as set out in the Memorandum and Articles of Assoclatlon Is the advancement of the Christian faith. To deliver the charitable object, the Trust offers a range of music-related charitable services to churches and schools through its fl3g5hip schools programme, iSlngPOP. The aim is to present the Christian message and the positive values it promotes in a way to which children and young people can relate. There are three central values underpinning our projects. Firstly. It Is about sharing the good new5 of our Christian faith. Secondly, we are passionate about great music. We use fun, modern pop songs specifically written for our projects based on great values and themes. Thirdly, isingPOP is about community. Our projects aim to bring school. church and home tO8ether through a community project that is upliftin8 and promotes joy and togetherness. The Vlslon .To see children, teachers and families explore personal faith through engagln8 In. and leadlng worship. To enable the church to engage with children and families in their communities. To share the love of God In church, school and home. To reach 1.000,000 children over 5 years. A¢lilevements and Performance Over 100 Schools & Churches took part in The Main Evenv Rehearse. Perform. Resource. The Maln Event is a live, interactive, tutor-led e¥perience that takes place over the course of four days. This immersive project will unlte the school. church and local community. build children's confidence and encourage them to think about inclusive Christian values through fun. reflection and worshipl Rehearse (Days 1-3: Teachin81 The school will spend the first three days learning a set of catchy, fun-filled pop songs with their i5ingPOP project leader. Each song 15 based on an important and inclusive Christian value. Perform IDay 4: Concert) The following week, the school will perform a live concert invlting the community to their local church,We supply professional live production, including PA. visua15 and all equipment necessary

Tru5tee5' Annual Report Year Ended 31- December 2023 forthe concert. In every conort, we always make space forthe local vicar or member of the church community to share what is happening in the life of the church! Rèsource We will leave the School and thurch with a set of teaching vide05 $0 that they can keep on singlng. Over 150 ¢ommunlties used The Pop Box Pldt. MIX. Pralse Whether 5eekin8 to Invlgorate your all-age ser¥lce with fresh ideas or are eager to empower the next generation to peer-led collectlve worshlp. the Pop Box is a 80-to Interactlve toolklt. We provide the templates, topics and a wide range of resources. so all you or your youn8 leaders need to do is bring their enthusiasml Either use our ready-made senilces or let your creativity flourlsh by plck-and-mlxing your own. Eath box contalns 12 monthly, interactlve collett￿ worshlp servlces. whlch Include: Bible storie5 Prayers Games Songs Crafts Engaging dlscusslon points We ran 35 Interactlve Workshops Explorlng the Christian falth in depth Our interactive workshops go beyond the surface, defvlng deeper Into falth themes. They unite the whole school in a day-long quest to explore the real meanin8 behind key Christian festivals and why many still celebrate them today. We currently offer workshops on the themes of Harvest, Chrlstmas, Lent, Easter and Pentecost. . Every workshop day Include5: Age-appropriate workshop sessions for the whole school Catchy iSingPOP songs and dances to leam A biblical exploration of the theme A group prayer activity A celebration assembly

ImerVatk￿ Tnmt Lkthd Trustee< Annual Report Year Ended 31" December 2023 Leaver5 Services Every year we have the privilege of working with year six children in leavers, services across the country. This year, across S cathedra15, over 14,500 thlldren have performed iSingPOP songs durin8 their leaverfs service. Leaver's Servlces mark crucial milestones in the academic journey of a child, creatlng reflertlve and celebratory memorles they wlll treasure forever. It is for that reason. iSingPOP is committed to ensure your vision for these events are creatively and technically supported. Over 275 schools subscribed to Classroom Worship Gather. Watch. Grow. Collective Worship offers a moment of peace. brfngln8 the entlre school farnlly together to celebrate their values. To support schools in this endeavour. iSingPOP created a no Intenslve plannlnB requlred. 'Classroom Worship,; a I5-mIn￿e weekly* Interactlve dl8ltal serfe5 aligned with the SIAMS .framework. Follows SIAMS framework Promotes inclusive Christian values Topics and themes available 2 years in advance 15.minute episodes and separate prayer attivity every weekl Each eplsode Includes: animated Bible Stories prayers & reflections 8roup discussions prayer artlvltles songs & dances Feedback "A fun and engaging way of sharing the values at the heart of the Christian faith with children, Staff and families.. Church Leader "A wonderful opportunity to share a living faith and celebrate the Christian values of our Church school." Church Leader "Last night's concert was totally wonderful and amazing. We had tears. laughter, singing and dancing. We were $0 50 proud and joyed by our children. Heidi has enjoyed herself so much, she has not stopped practicing and talking about Emma, even woke up singing the songs thi5 morning. When Emma marched the kids in skipping to the music it was brilliant one of the best school things we have ever been to. Thank you so much everyone involved." Parent

Trusteg Annual Report Year Ended 31° December 2023 "We had a great week last week with you. I was particularly impressed with how quickly you got to know the children. recognised their individuality and built relationships. They thought you were amazing." Yhe concerts were very well received by parents, and we have received many positive comments. What struck me was the smiles on their faces throughout the concert- for many of the children the concerts will be something they will remember for a very long time. For our pupils. engaging in a project like the Main Event is transformational, they will probably never have experienced anythin8 like this before." "Slnce subscribing to the ISlngPOP resources, I have been really Impressed. We use the Pop Box to support our pupils in leadin8 worship and the classroom worship resources weekly. Please keep the resources ¢omlngl' Headteacher "l am emalling to let you know how brilliant the classroom worshlp materials have been thls year. It has really helped to structure and pull together our worships and given us a strong weekly therne to link our whole school worshlps and classroom worships together to help revlslt and embed the idea5 and concepts.. Collective Worship Lead Events & The Pralse Team Salisbury Diocese - We celebrated wlth the Diocese of Salisbury Academy Trusts year 4's In Salisbury Cathedral. Coventry Diocese- We were part of the Alive Praise Party with 9.IXII children and adult5 for woF5hip concert5 overtwo days. The Praise Team performed on the main stage to over 30.1)X) people at 818 Church Festival and Joined 5.000 people at Swansea and Brecon Centenary event. Challenges & Future Plans As you can see above, we have been busy with the core charity objectives. At the same time, we have conducted a thorough review of our projert's future direction. The financial challenges facing schools, coupled with the broader economic downturn, we feel will make it increasingfy difficult for them to afford our servlces. Recognising the need for a new approach, we explored potential partnerships. At the same time. the Church of England launched their'Growin8 Younger and More Diverse" initiative. aiming to double the number of children attending church within seven year5. We created an Innovatlve partnership model with dioceses across the UK. This would involve appointing a dedlcated project leader for each diocese to work closely wrth local Churches. schoo15 and homes.

Innervallon TnNt Umli•d Twstee< Annual Report Year Ended 31" l>ecember 2023 Our pilot scheme with Coventry Diocese, commencing in January 2024, will showcase the potential of this approach. Every child in church schoo15 will have access to our weekly "Classroom Worship. resource. while all parishes will receive a "Pop Box" for use in both church and school. We are also planning to organise regular Main Events. workshops, and leaver5' services, all run by thelr very own project leader. Based on the success of thls pllot, we plan to expand our partnershlp model to other dloceses throughout the UK. This will not only help us achieve our goals but also establish a sustainable and long-term business model. By worklng closely wlth the Church of England. we alm to: Increase the number of chlldren attendln8 church through engaging and Inclusive worship experiences. Provlde valuable resources and support to schools and parlshes to enhance thelr religlous education programs. Foster a sense of community and belon8ln8 among youn8 people and their farnilie5. Create a sustainable busSness model that ensures the lon8-term vlability of our project. The Team 5enlor Leadership'Team Ino change) Miriam Porter, Director Beckl Ross, Operations Manager Lorralne Pearson. Office Manager Management Appolntments Inew to 20231 Sandy Murray- Head of Finance Jake Drake- Head of Marketing & Communications Leah Halliwell- Head of Design Ben Park- Head of Media

Innervation TnMI Limited Truste￿ Annual Report Year Ended 31 December 2023 Team Structure iSingPOP OftGANISA TIONAL STRUCTURE B•ckl Ros# Lorroln• P•ar•on L•ah HJllh¥•ll ¥ondyWrroy Jak• Drok• ID¥tyT••9tyod Lydla Uorlln '¥WXI&,. 'Income fr.om Charitable Actlvities. in the accounts, shown as £232.54112022: £211,916). Expenditure on Charitable Activities has increased to £410,634 in 2023 compared to £438.694 In 2022. There was a deficit for the period of £19.17112022: £20.6941. Prfnclpal Rlsks and Uncertalntles The Trustees have identified the major risks to which the charity is exposed and have put in place processes and procedures to ensure that such risks are miti8ated as far as possible.

Innervation T￿￿t U Trustee< Annual Report Year Ended 31° L)ecember 2023 The principal risks are Identified as: Staff Retention We have spent time 2023 restrurturin8 our team to enable us to continue down our new path of creatlve digital and in-person projetts and take full advantage of innovative technologies to strearnline our administration. Golng concern and Reserves Pollry We know that at the end ofthe year. our unrestricted reserve5 dropped down to £2,493,. however, with restructuring, utillslng innovative technologies and a55es5in8 where we can reduce costs, we recovered in 2024 to rebuild our reserves. Strurture, Governance and Management Innervation Trust Limited is a company limited by guarantee and Is a registered charity governed by Its Memorandum and Articles of Association and the compliance requirements of the Companie5 Acts and the Charltles Act. The governance of the Charity is provided through a 8roup of appointed Trustees who are a150 ompany dlrectors and who give their time. expertise and energies to ensure that the work of the Charlty makes a posltlve dlfference In fulfillin8 its charitable objectives. New Trustees are appointed by exlsting trustees.and given approprlate inductlon and trainlng on appointment. Trustees who served in the period and up to the date of si8nin8 this report are Ilsted on page 2. Day to day management of the Trust's operations Is delegated to the operatlonal dlrectors and senior staff who are not Trustees. The Trust occasionally makes use of volunteers to ensure Its projects are deliVe￿d successfully. Related Partles There were a number of transactlons with related parties during the year. These are more fully disclosed in note 22 on page 26. In.addition, the Trust has a subsidiary company. Innervation Tradin8 Company Limited. Inne￿atiOn Trading was set up to process commerclal transactions arising out of the Tru5Y5 charitable activities. Transactions with this company are more fully disclosed in note 22 on page 26. Public Beneflt The Trustees are aware of the Charity Commi55ion's guidance on public benefit. The work of the charity and the funds It raises are wholly diretted towards the objectives as set out on page 3 and the Trustees hold the view that the charity meets the criteria laid down for meeting the public benefit test.

IMeThalion TnJst Lfrnmwd Trusiee< Annual Report Year Ended 31° DecembeT 2023 Trustees, Responsibilitles The Trustees are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and UnÉted Kingdom Generally Accepted Accounting Practice IUK GAAPI. including Financial Reporting Standard 102.. The Flnancial Reportlng Standard applicable in the UK and the Republic of Ireland IFRS 102). The law applicable to charities In England and Wale5 require5 the Trustees to prepare financial Statements for each financlal year that give a true and fair view of the State of affairs of the charity and of the incoming resources and applicatlon of resources of the charity for. that period. In preparing the financial statements, the Trustees are required to: select suitable accounting pollcies and then apply them consistently: observe the methods and principles in the applicable Charlties SORP: make judgements and estimates that are reasonable and prudent: state whether applicable accountin8 Standards have been followed, subject to any materlal departure5 disclosed and explained in the financial statements,. and prepare the financial statements on the 80ing concern basls unless it Is Inappropriate to presume that the charity will contlnue in operatlon. The Trustees are responslble for keeping proper accounting records that are sufflclent to show and explain the charity's transactlons, disclose with reasonable accuracy at any time the financial position of the charlty and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provi5ion5 of the Charitls constltutlon. They are also responsible for safeguarding the assets of the charlty and hence for taklng reasonable step5 for the prevention and detection of fraud and other Irregularltles. The trustees are responslble for the maintenance and integrity of the financial information Included in the charivs website. Legislation in the UK 8overnin8 the preparation and dlsseminatlon of financial statement5 may differ from legislation in other jurisdictions. In preparing this report. the Trustees have taken advanta8e of the small companies, exemptions provided by 5ettion 415A ofthe Companies Art 2CKI6. The Trustees. Report and the Strategic Report were approved by the Board on 24September 2024 and signed on its behalf by Roger Morri5 Chair of Trustee5 10

InnerV￿lon Tryjt Umlted Indepthdent Examinerfs Report Year Ended 31° December 2023 I report to the tharity trustees on my examination of the accounts of Innervatk)n Trust tim￿ed for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account. the Balance Sheet and the related notes. ftesponslbllltles and baslsof report As the trustees of the charlty land also its dlrectors for the purp05e5 of company lawl you are responsible for the preparatoon of the accounts in accordance with the ￿qUIreMentS of the Companies Art 20061'the 2006 Act. Having Satisfied myselfthat the accounlsof the charity are not required to be audlted under Part 16 ofthe 2CQ6 Act and are eligible for independent examination. I report In respect of my examlnatlon of your h3rity's accounts as carried out under sertlon 145 of the Charltles Act 20111'the 2011 Act'l. In carryln8 out my examination I have followed the applkable Dlrectlons glven by the Charlty Commisslon under section 1451511bl of the 2011 Act. Independent examlner'sstatement A5 the charf(Vs gross Income excee(ied £250,(KK) your examlner must be a member of a body11sted in sertion 145 of the 2011 Act. I confirm that l am qualified to undertake the examlnation ￿ bein8 a qualified memberof'lnstilute of Chartered Accountant5. England and Wales. I have completed my examlnation. I can confirm that no material matters have come to my 3ttentSon in connectlon with the examlnation which Bives me cause to believe that in, any materlal respect: the accountlng records were not kept in accordan￿ with sectlon 386 of the 21116 Act and sertion 130 of the 2011 Act: or • the accounts dSd not actord with those records: or the accounts did not Comply with the applicable accountin8 requirements corKeming the fom and content of ac¢ounts set out in the Charit￿5 (Accounts and Rewrtsl Regukitions 2CI)8 and under section 396 of the 2CQ6 Att other than any requirement that the accounts give a 'true and fair, view which 15 ngt a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the Charttie5 SORP IFRS 1021.

Independent Examlnerfs Report Year Ended 31° December 2023 I have no concerns and have come across no other matters in connection w¢th the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ElIzab￿h Eyre Chartered Acc*)untant Eliiabeth Eyre Limited Bank Street Buslness Centre 6 Bank Street Malvern WR14 2JN .Date Jts September 2024 12

Innervatlon Tn*t Lmnited ststement of Flnanclal Actl¥ltles {Incorporating an In￿me and Expenditure A¢¢ount) Year Ended 31" Decefflber 2023 Notes Unrestricted Funds Restricted Funds Total 2023 Total 2022 INCOME FROM Donation and Brant income Charltable Attivities Other Trading Activities Investment Income TOTAL INCOME 155.9(Kl 232.541 20,484 176384 232,541 220,599 211,916 26 388.467 26 408,951 20,484 432,520 EXPENDITURE ON Raising Funds Charitable Actlvltles TOTAL EXPENDITURE 17,488 389,1X)9 406,497 17A88 410.634 428,122 14,520 438,694. 453,214 21.625 21.625 NEf INCOME AND NET MOVEMENT IN FUNOS 118.0301 {1,1411 119,171) 120,6941 .RECONCILIATIthW OF FUNDS Total funds brought forward 7.953 15,409 23.362 44,056 TRANSFEBS 12.570 112.5701 TOTAL FUNDS CARRIED FORWARD 19 2,493 1.698 4.191 23,362 The notes on pages 15 to 28 form part of these flnanclal ststemen 13

Innervation Tr￿1 Lwnitod Balance Sheet At 31° December 2023 Notes 2023 2022 FIXED ASSETS Intangible fixed assets Tangible fixed assets Investments 12 13 14 1.645 8.S06 100 10.251 1,880 5,821 loo 7,801 CURRENT ASSErs Stock Debtors Cash at bank and In hand 19.203 98.576 34.518 152,297 10.494 46,249 62.037 118,780 15 CREOITORS: Amounts falllng due wlthln one year 16 I146￿57) 191,7191, NEf CURRENT ASSETS 27,061 TOTAL ASSETS LESS CURRENT LIABIUTIES 15,691 34,862 'CREDITORS: Amounts fallln8 due after mo th•n one year 18 Iii.sM) Ill.5￿) NET ASSEts 4,191 23,362 FUNDS Restricted Income funds Unrestricted income funds 19 19 1,698 2,493 4.191 15,409 7,953 23.362 For the year ending 31° December 2023 the company was entitled to exernption from audit under section 477 of the Companles Act 2036 relating to small companies. The members have not required the company to obtain an audit of its financial statements for the year in accordance wilh section 476 of the Companie5 Act 2CI)6. The Trustees at*nowledge their responsibility for complying with the requlrements of the Act with respect to accounting records and for the preparation of financial statements. The financial statements have been prepared in accordance with the prowsions applicable to companies subjert to the small compan5es regime. These finan¢ial statements were approved and authorised for issue by the Board of Trustees on 24th September 2024 and signed on their behalf bv: Roger Morris Chair of Trustees The nofes on pages 15 to 28 form part of these financial statements. 14

Innervatlon Tnrnt U￿thd Note5 to the financial Ststements Year Ended 31 December 2023 Company inf<>rnwtion InneNation Trust Limited was incorporated in England and Wales a5 a company limlted by guarantee (registered no. L￿721979) and has no share capital. The Ilabllity ol members in the event of windin8 up is limited to an amount not exceedln8 £1 per member.. the number of members a5 at 31° December 2023 was 5. Innervation Trust Limlted is also registered as a charity with the Charlty Commission Ireglstered no. 11317571. The reglstered office of Innervation Trust Umlted is Unit 27. Cotteswold Dalry. Oalry Wayi Tewkesbury GL20 8JE. Accountlni pollcks The followln8 accountlng polltle5 have been applled conslstently In dealing wTth Items which are consldered materlal in relation to the charitable companls financial statements: BasFs of accountln8 The flnanclal statement5 have been prepared under the hlstorkal tost convenllon. The flnancial statements have been prepared in accordance with Accountlng and Reportln8 by Charltles.. Statement of Recommended PractKe applicable to charitles preparing their accounts in accordanee wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191 Icharities SORP IFRS 102)) and the Financial Repcirtin8 Standard appllcable in the UK and Republic of Ireland IFRS 1021. Innervation Trust Limited meets the defin￿lOn of a wbllc benefit entity under FRS 102. concem Over the year, expendlture exceeded income by £19,171 resulting in a funds position of £4,191 at 31" December 2023. Restricted funds at that date We￿ £1,698. The Tru5tee5 have prepared projections of the income and expenditu￿ of the charity for 2024. The trustees and management team are confident that, with the resumption of projerts, the new dlgltal resources are the support of existing donors, the charity has sufficient cash to meet its liabilities as they fall due. 15

Innervati￿ Tmt Llmlted Notes to the Flnanclal Ststements Year Ended 31° December 2023 Acc<wnting pokies {Coned) Group accounts The Charlty Is exempt from the requlrement to prepare consolldated accounts by the virtue of the slze of the group. These financial statements therefore present infomation about the charity as an Indlvldual company rather than as a group. Statement of cash flow5 The charitable company has taken advantage of the small comparw exemptlon and has not included a Stalement of cash flows within the flnancial statements. In¢ome Income Is included In the Statement of Flnancial Activities when the charity is legally entitled to It. receipt Is probable and the amount can be quantified with reasonable accuracy. Investment income is accounted for the period in which the charity is entitled to recelpt. Expendlture Expendlture is included In the Statement of Financial Activities on an accruals basls. Costs of raising funds comprlse those tosts incurred In generating donations and le8acles. The Tru5Vs charitable activity is the advancement of the Christian faith worldwide. Costs incurred In furtherlnB these aims are related to runnin8 sch¢)ols weeks. including costs of merchandislng and organising events. It also includes Bovernante tosts which are Costs incurred for runnlnB the charity itself as an organisation, including costs related to the independent Èxamination and accountancy. All¢c*lon of suppwl costs All costs a￿ directly attributable to specific acdvities. Penslw scheme The costs of providln8 defined contribution pensions are charged to the SOFA a5 they fall due. The difference between contribLFtions payable in the period and those actual￿ paid are shown as accruals in the balance sheet. The pension costs are allocated to the unrestricted funds as this is where staff costs are allocated. 16

Inner¥atlon Trnst Llmlt•d Notes to the Fln•Kial Statements Year Ended 31" December 2023 Accountlni policies {ConYd) Tanglble flxed assets and depredatlon Tangible fixed asset5 are ststed at cost less depreciation, wth assets B￿ater than the de-minlmis of £5￿ being capitalised. Depreciation 15 provided at rates calculated to write off the tost of fixed assets, les5 their estlmated residual value over their expected useful lives on the following basis.. Flxtures, fittln8s and equipment Motor Vehicles 25% reducin8 balance 25% reducing balance Stock Stocks are valued at the lower of cost and net reali5able value. The stock held 15 merchandise for resale. Debtors Trade debtors and accrued income are reco8nlsed atthe settlement amount due. Prepayments a valued at the amount prepaid. Cash It bank and In hand Cash is represented by cash In hand and deposrts wrth finantlal Instltutlons. Credltors Credltors are ￿Cognised where the charity has a present obli8ation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Funds Funds held by the charlty are either: Unrestritted generolfund5 These are funds that can be used in accordance with the charitable objects at the discretion of the Trustees. Restrirtedfvnds These are fund5 that can only be used for particular restricted Plsrposes within the objerts of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 17

Imervatlon TnrJt Limil•d Notes to the Hnancial Statements Year Ended 31° Detsmber 2023 Accounllng polkles Icorfd) Flnandal Instruments Innervatlon Trust Llmlted only has financial assets arKI flnancial Ilabilittes of a kind that qualify a5 basic financial instruments. Basic financial instruments are initially recognised at transattion value and subsequentty measured at their setdement value. Operntln8 lease Rentals applicable to operatSng leases are Charged to the SOFA on a straight-line basis over the term of the lease. Re¢ognitiaTh of liabilitles Llabilities are ￿C08n15ed once there Is a k831 or constructive obligation that commits the charity to the obligation. Taxatlon The company is a ￿gIStered charlty and as such Is entitled to tax exemption on all its Income and gains, propèrty applled for its charitable purposes. VAT Irrecoverable VAT Is charged as a cost a8alnst the actlvlty for which the expenditure was Incurred. Crftlcal a¢￿untI￿￿Jud8eMeffits •nd key sourtes of estlmatlon uncertalfity £stlmates and Judgements are continually evaluated and are based on historical experience and other fartors. including expectations of future events that are believed to be reasonable under the clrcumstances. The annual depreciatlon charges for the tangible assets a￿ sensfitive to changes in the estimated useful lives and residual values of the assets. See note 13 for the carrying amount of the tan8ible assets and note 2 for the depreciation policies. 18

Inner￿li)n TnJ*t Umitsd Notes to the Hn•ndal Statements Year Ended 31° Decembef 2023 Income from Donations and Grants Unrestricted Restricted Funds Funds Total 2023 Total 2022 Regular donations One-off donations Gift aSd Furlough CJRS grant 47.559 101,197 7,144 47,559 121,681 7,144 72.226 141,941 6,432 20,484 IS5,￿￿) 20.484 176.384 220,599 Income from Charhable Ac1•￿￿e9 Unrestricted Funds Restricted Funds Totsl 2023 Total 2022 Prolect Incthe Digital resources Income from CD sales Other merchandI5ing income Royaltles 142,244 56,219 142,244 56,219 111,561 65,272 31,677 2.401 232,541 31.6TI 2,401 232,541 34,188 895 211.916 5. Income from OtherTradlw ArtITAtles Unrestricted Fund5 Restricted Funds Total 2023 Total 2022 Bank refvnd Sale of song1Scences Loans wrltten off Other income 19

Innervatlon Tnmt Lhnlted Notes to the Financial Statements Year Ended 31" December 2023 Expenditure on Raisinz FwKIs 2023 2022 Travel and subsistence Printing Postage Dancing Leaflets London Marathon Church presentatlon Fundraising consultancy 17,488 17,488 14,520 14,520. Expendlture on Ch•rltable Admtles 2023 2022 Purchase of merchandise Project and equipment expenses Motor and travel expenses Entertainment and hospf(allty Publlclty Keep on SinglnB Support costs (note 81 Governance Costs Inote 81 15.304 73.037 23.676 2.874 12.995 25,496 83,717 25,446 . 5.356 14,805 275,552 7,196 410.634 279,240 4,634 438.694 20

Plotes tothe firw)dal Statements Year Ended 31" December 2023 Goverrbance and supwt costs Support Governan Costs Costs 2023 Sa13ries, wages and related costs Inole 91 Training Administrative expenses Premises expenses Professional fees Insurances Glfts Bank Charges Independent Examlnerfs fees Accountancy fees 251,203 3.172 15,965 4,257 251.203 3.172 . 15.965 4257 3.458 3.458 75 880 1,428 2,310 282,748 75 1,428 2,310 7,196 275,552 No support costs have been allocated to grant maklng actl¥It￿5(2o22. nlll. Staff costs and numbers 2023 2022 Salarle5 National Insurance Pension Costs 235.810 11,044 4,349 251.203 215,202 8.055 3.495 226,752 The avera8e headcount number of staff during the year was 1312022: 151. The remuneration of the key management pEr50nnel was £82,53312022.. £87.5651. No empltyee was paid more than £￿.000 in the current or previou5 finar￿131 year. io. Trustee rerThJner*lon Trustee expenses of £O12022- £01 We￿ reimbursed in the current financlal year. During the year donatron5 of £630 were 8iven by the Trustees to the charity12022: £6￿}. 21

Imervation TnJ•t LhYal•d Notes to the Hnandal Statements Year Ended 31° December 2023 ii. P4et Income This is stated after char8ill8'. 2023 2022 Rentals under operating leases Depreciation Amortlsatlon Accountancy Costs Independent Examinerfs F 1.956 3,118 235 2,050 1,260 235 2,310 1,428 12. Intsnglble Ilxed assets WebS￿e Cost: At l January2023 Additions in year Disposals At 31" December 2023 2,350 2.350 Depreclation: At l January 2023 Char8e forthe year DIspos31s At 31" Oecember 2023 470 235 705 Net Book Value: At 31" Oecember 2023 At 31" December 2022 1.645 1,880 The website is amortised on a straight line basis over 10 years. 22

Note5 tothe Hnandal Statements Year Ended 31 December 2023 13. Ta￿lble fixed assets Flxtures. Flttings and Equlpment Cost: At I"January 2023 Additions In year Disposals At 31° December 2023 27.822 5,153 32.975 DeP￿Clat￿on. At l January 2023 Charge for the year Disposals At 31" December 2023 22,001 2,468 24N69, Net Book Value.. At 31" December 2023 At 31 December 2022 8,506 5,821 Investment In Sub￿dIary 202Y 2022 Cost at l January and 31" December 100 The subsidiary is Innervation Trading Company Limlted. company number 05653870, which is IC#)% owned by the Trust and ￿gIste￿d In En8Lind and Wales at Unit 27 Cotteswold Dairy Estate, Dalry Way, Tewkesbury GL20 8JE. 15. 2023 2022 Trade debtors Owèd by subsidiary Prepayrnents and accrued income 94.81)1 44,524 i(x) 1.625 46,249 98.576 23

Notes to the Finandal Statements Year Ended 31 December 2023 16. Creditors: amounts fallin8 due within t)ne year 2023 2022 Trade c￿dr(or$ Loans Taxation and soclal security Accruals Other credltors Deferred income (note 171 4.179 3￿32 3￿5 876 126.979 I46￿57 2,517 15,047 974 63,CQ2 91.719 The loans are unsecured, interest-free and repayable in equal monthly instalments of £5￿. 17. Deferred Income 2023 2022 Amount5 brought forward Amount5 received in the year Amounts utlllsed durlng the year 63,lJ12 163,0021 126,979 126.979 56,825 156,8251 63,C02 63,CO2 Deferred income arises when schools and churches are Involced In advance for future projerts. i& Credltors: amounts falllrq due after mare than one year 2023 2022 Loan 11.5 11.5Crf) The loan is unsecured, interest-free and ￿payable in equal monthly instalments of £50). 24

Innervatlon TTUJt Lkn61ed Notss to the finandal Slatements Year Ended 31 December 2023 19. Movement In funds As at 01.OL23 Inuwne Expendlture Trnnsfers A5 at 31.12.23 Restritted funds: Classroom Worship Gloucester Diocese Seedfield Trust I Priestman Foundatlon Good News Evangellcal Bursary Scheme 6,511 2,328 11,984 117,5541 12,3281 11.7431 941 2,51X) 757 11.41XII I4,9￿)) 16,2701 121.625} 112,5701 270 15,409 20,484 Unrestrlcted Funds Total Funds 7,953 23,362 388,467 408,951 1406.4971 1428.1221 12.570 2,493 4,191 Classroom Worship- funds raised through the Three Peaks Challenge Gloucester DSocese- funding for the marketSn8 of Pop Box Seedfield Trust- funding for the marketin8 of Pop Box Funds from J Priestman Foundatlon, Good News Evangelical and the Bursary Scheme were previously Incorrertly treated as restricted funds. These funds have been transferred to unrestricted funds during the year. 20. Net assets by fund Intanglble and Tangible Fixed ssets Investments Creditors Due After One Year Net current Assets Totsl Unrestrfcted Funds Restricted Funds Total Funds 9,209 942 10.151 100 Ill,5￿) 1493 1,698 4,191 756 111.50JI 21. Flnancial Instruments 2023 2022 Flnanclal assets measured at settlement value Financial liabilities measured at settlement value 130A26 126,970) 112.901 {30.2051 Financial assets measured at settlement value comprise cash. trade debtors and accrued income. Financial liabilities measured at settlement value comprise trade creditors, grant commitment. loans and accruals. 25

Innervation Tntst Llmltsd Notes to the Financlal Statements Year Ended 31° December 2023 Rel*ed party transactions Innervation Tradin8 Company Limited 1yradin￿l is a related party as it is a subsidiary of Innervation Trnst Limited l.the Trusv). The Trust has a related ministry called iSin8Worship. This is a smartphone and tablet appllcatlon I'App"I which makes worshlp and muslc In small groups easy to deliver. isingworship itself is partly owned by Movation Productions Llmlted and Kingdom Apps Limited. both entities in which Anthony Porter and Mark Pennells have an interest. The amount owed to Innervation Trust Limited at 31 December 2023 wa5 E28712022- EIDJI. 23. Ststement of Flnandal Acllvlts- prlor year Unrestrlcted Funds Rest￿Cted Funds Totsl 2022 Total 2021 INCOME FROM Donatlon and 8rant income Charitable Actlvities Other Tradin8 Activltles Inveslmenl Income TOTAL INCOME 182,515 211,916 38.084 220.599 211.916 175,079 113,805 394,436 38,084 432,520 288.884 EXPENDITURE ON Raising Funds Ch3rSt8ble Actlvities TOTAL EXPENDMJRE 14,520 416,019 430.539 14.520 438.694 453.214 8,668 256,865 265,533 22.675 22.675 NET INCOME AND NET MOVEMENT IN FUND5 136.1031 15,409 {20,6941 23,351 RECONCILIATION OF FUNDS Total funds brou8ht forward 44.056 44.056 20,705 TOTAL FUNDS CARRIED FDRWARD 7.953 15,409 23,362 44.056

Inner¥ation Tr￿1 Umltsd Note5 to the financial St*ements Year ENled 31" December 2023 Income from DOnatiOr￿ and Grants- prloryear Unrestrirted Restrtcted Funds Funds Totsl 2022 Total 2021 Regular donations One-off donatlons Gift aid Furlough CIRS grant 59,412 116.671 6.432 12.814 25.270 72226 141.941 6,432 44,784 94.126 6,874 29,295 175,079 182,515 38,084 220.599 15. Income from Charttable Adl¥ttles- wlor y￿r Unrestrlcted Fur￿5 ftestrfcted Funds Totsl 2022 Total 2021 Prokct income Digital resources Income from CD sales Other merchandisin8 income Royaltie5 111,561 65.272 Ill￿61 652n 52,082 34.188. 895 211.916 10,467 750 113,805 211.916 26. Expen¢Ntur• on Ralsln8 Funds- prknyear 21n2 2021 Fundrai5in8 consultancy I4￿20 14.520 8,668 8,668 27

Imervatlon Tn•t Umfted P4oles to the Finandal Ststements Year Ended 31 December 2023 27. Expenditure on Ctharltable AcMes- prlor year 2022 2021 Purchase of merchandise Project and equipment expenses Motor and travel expenses Entertainmeni and hospitallty Publicity Keep on Sin8ing Support costs Governance costs 25A% 83.717 25.446 5,356 14W5 3.421 57,628 9,067 1,610 7,834 279.240 4.634 438,694 172,567 4,738 256.865 28. GOVern￿te *nd support c¢>sts- prfor year Support Costs Governance Costs 2022 Salaries, wages and related costs Training Administrative expenses Premises expenses Professional fees Insurances Glfts Bank CharBes Independent Examlnerfs fees Accountsncy fees 226,752 3,364 32.306 12,834 3,015 226,752 32,306 12.834 3,015 1,324 40 929 1,260 2,050 283374 1,324 929 1.260 2.050 4,634 279,240 29. Movement In fvnds- prior Balance at l January2022 Movement in Resources Balance at Income E¥penditure 31° December 2022 Unrestrirted Funds Restricted funds Total Funds 44.056 394,436 38.084 432,520 1430,5391 122.6751 1453.2141 7.953 15.409 23362 44.056 28