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 Accsts- 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