Innervation Trust Limited IA Company Limited by Guarantee) Trustees, Annual Report and Unaudited Financlal Statements Year Ended 31st December 2025 Company Number 06727979 Registered Charity Number 1131757 ising pop Inner¥atiOD TnMt Lhnitsd Contsnts Pages Trustees, Annual Report 2to12 Report of the In(Jependent Examlner 13to14 Statement of Financlal Artivitles 15 Balance Sheet 16 Statement of Cash Flows 17 Notes to the FSnanclal Statements 18to32 Inner¥atlon Trt￿t Llnknd Trustee5' Annual Report Year Ended 31" December 2025 The Trustees present their report together with the financial statement5 of the charity for the year ended 31 December 2025. The financial statements have been prepared in accordance wlth the accounting policies set out in note 2 Ipage 151 and comply with the Charitf s Trust Deed, the Charltles Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 (effective January 20191 and applicable law. Reference and Admlnlstratlve Informatlon Re8lStered Name.. Innervation Tnjst Limited Charlty Number.. 1131757 Registered and Principal Office: Unit 27 Cotteswold Dairy Dalry Way Tewkesbury Gloucestershire GL20 8JE Company Number.. 06727979 TrusteeslDirertors: Blshop Roger Morris (Chairman) Helen Springett (resigned 01.02.261 Rev Mark Badger Phillip Simpson April Gold13ppointed 28.04.251 Richard Otto (appointed 28.04.251 Bankers: National Westminster Bank 10 Great Underbank Stockport SKI ILL Independent Examiner: Elizabeth Eyre FCA Elizabeth Eyre Limited 6 Bank Street Malvern WR14 21N Innervation Trtrat Umltsd Trustee< Annual Report Year Ended 31" December 2025 Key Management: Miriam Porter (Dirertor of isingPOPI 8ecki Ross (Operations Manager) Lorraine Pearson (Office Manager) Sandy Murray (Head of Finan￿) Obje¢tlves and Actlvitles The objective of the charity, a5 set out in the Memorandum and Articles of Association, is the advancement of the Christian faith. To deliver the charitable objective the Trust offers a range of music-related charitable services to churches and schools through it5 flagship schools programme. iSingPOP. The aim 15 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 projerts. Firstly. It is about sharlng the good news.of our Christian faith. Secondly. we are passionate aboLrt 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 together throu8h a community projert that 15 upltftin8 and promotes joy and togetherness. The Vlsion To see chlldren. teachers and families explore personal falth through engaging in, and leading worship. To enable the church to engage with children and families in their communitles. To share the love of God in church. sclK)ol and home. Achlevements and Performance 151 Schools & Churches took part in The Main Evenf with a reach to 19,262 children. Rehearse. Perform. Resource. The Main Event is a live. interattive. tutor-led experience that takes place over the course of four day5. This immersive project will unite the school, church and local community, build children's confidence and encoura8e them to think about inclusive Christian value5 through fun, reflection and worship. Innethtion Tnffjt Limited Trustees. Annual Report Year ErKled 31" December 2025 Rehearse (Day$ 1-3: Teachln8) The school will spend the first three days learning a set of catchy. fun-filled pop son8S Wlth their iSingPOP project leader. Each song Is based on an important and Incluslve Chrlstian value. Perform (Day 4: Concert) The followin8 week. the school will perform a live concert inviting the community to their local church. We supply professional live produrtion, including PA. visuals and all equipment necessary for the concert. In every concert. we always make space for the local vicar or member of the church community to share what is happening in the life of the churchl Resource We will leave the school and church with a set of teaching videos $0 that they can keep on singin8. Over 93 communltles used The Pop Box Plck. MIX. Pralse Wheti7er seeking to Invlgorate your all-a8e servl¢e with fresh ideas or are eager to empower the .next generatlon to peer-led collertlve worshlp, the Pop Box is a 80-to Interactlve toolklt. We provide the templates, topics and a wide range of resources. $0 all you or your young leaders need to do 15 bring their enthusia5rn1 Either use our ready-made servi￿$ or let your creativity flourlsh by plck-and-mixlng your own. Each box contalns 12 monthly, Interactlve collectlve worshlp servlces, whlch Indude: Bible stories Prayers Games Songs Crafts Engaging di5CUS5ion points We ran 146 Interactive School and Church Workshop5* reaching 16.814 children. Explorin8 the Chrhtlan falth In depth Our interactive work5hop5 go beyond the surface, delving deeper into falth themes. They unite the whole school in.? day-long quest to explore the real meaning behind key Christian festivals and why many still celebrate them today. We currently offer workshops on the themes of Harvest, Christmas, Lent, Easter and Pentecost. Inner¥ation Tntst Llmited Truste￿ Annual Report Year Ended 314 December 2025 Every workshop day includes: Age-appropriate workshop ses5bons for the whole school Catchy iSingPOP songs and dances to learn A biblical exploration of the theme A group prayer artivity A celebration assembly Leavers Servlce5 439 Schools took part In leavers servlces, wlth a reach of 10.710 chlldren. Every year we have the privilege of working with year six children in leavers. serv1￿5 across the country. This year. acros5 6 cathedrals, over 10,710 thildren have performed iSingPOP songs durin8 their leavees service. Leaver'5 Services mark crucial milestone5 in the academic Journey of a child, ¢reatln8 reflectlve and celebratory memorles they will treasure forever. It is for that reason. iSingPOP is committed to ensure YOUT Vi51on for these event5 are creativelv and technically supported. ' Classroom Worshlp Over 328 s¢hools'subs¢ribed to Classroom Worshlp172,445 thlldren} Gather. Watch. Grow. Collective Worshlp offers a moment of peace, brln8ln8 the entlre sthool famlly together to celebrate their values. To support schools In thi5 endeavour, isin8POP created a no Intenslve plannln8 required, 'Classroom Worship,: a 15-mlnute weekly, Interactive dl8ital serles 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 activity every weekl Each episode includes: ahimated Bible stories prayer5 & reflertions group discussions prayer activities Songs & dances InneNaUon Trust Llrnitsd Trusttt¥ Annual Report Year Ended 31° Oecember2025 Feedback "Wowl iSingPOP share the Christian message with energy, passion and sincerity with amazinglv accessible and energising songs for all ages, bringing life and love to all wirhln our school comrnunity- children, stsff and parents.- Catherine Wallace. Bishops Cannin85 "Joyful. inclusive, supportlve. celebratory and fittlng wr(h our Christian vision of 'Love, Learn and Flourish Togetherf.. Lynne Loomes. Woodchester, Gloucester "Suzy was brilliant at organising everything and listening to our individual needs. Chris carefully wove our values through the songs meaning it was bespoke to our school and the children loved his style. His energy and enthusiasm couldnl not make you Smilel The event was amazing. It was a great way to bring our community together especially for our harder to reach parent5. They got to hear the gospel through the eyes of their children - how amazing is thatl" Gemma Smlth, Cathedral School, Chelrnsford "iSin8POP was an extraordinary week of memorable experiences which brought our school and community to life." Lee Francls, Gloucester Dlocese Seeing our children smiling through worship was ama2in& iSingPOP has been a breath of fresh alr for us. Liura Brockelhurst Inee, Wigan "We love every minute that iSingPop are wlth us. From learnin8 the songs and the way the . meaning is described to our children to the concert itself. we 8et so much out of the experlence. We love how aliv¢ the church becomes when it filled with light and sound and the children's voices in church flll us with joy. The feedbatk frorn families and the church community is always so positivel" Leanne Cook.Branston Infants, Uncoln Events & The Pralse Team S31isbury Diocese - We celebrated wlth the Dlocese of Salisbury Academy Trusts year 4's in Salisbury Cathedral. Coventry Dlocese- We were part of a school's Jamboree. taking the whole Pralse Teom to celebrate the year 6 children's loumey throu8h school. The Praise Team helped with the thildren's work and performed on the maln stage at Big Church Festival. Successes, Challenges & Future Plans Successes Working with Worcester Diocese in 2025, Kirsty used our resources and The Maln Event as an invitational moment to start New Worshipping Communities. InneThallon Tnmt Un&t•d Trustee< Annual Report Year Ended 31 Decefflber 2025 An exceptional, uplifting. moving and highly inclusive musical adventure that brings the whole school and church community together with love, acceptance and joy at the heart of it all. Sarah Hanson, St Barnabas. Worcester Emma, based In Coventry Dlocese. Continued to work wtth the education team to enable the children to explore faith and create their own Collective Worship. "Emma - such energy and enthusiasm throughout a long day. she Impressed us all with her positivlty and Skill in managing large numbers of children, plus teaching about Easter in such an inclusive and Informative way. The songs chosen were inclusive and meaningful to all children, of Christianlother faith, or none. The whole event helped strengthen the teachin8 of and children's understanding of Easter and what Easter means to Christians. They also strengthened their understanding of some core Christian values. Emma's skills as a singing teacher got the best out of the children in re8ard to quallty of singin8." Ruth Anstee, St Mar8areVs. Coventry Another success wa5 our leavers. services and celebrations went from strength to stren8th' we added St Edmundsbury and Ipswich to our celebration5 in their Cathedrals, whlch was Immediately rebooked. he service at the cathedral on 23rd June was Joyfull Chris, links between songs were really good, full of the Bible. The children loved the son85." Jane Sheat. Head ot Educatlon St Eds & Ips. Challenge & Future Plans Our main challen8e this year was the continued journey of fiscal recovery from Covid, due to the previous year's downturn in the economy, and the continued cost of living crisis. The Team Senlor Leadershlp Tearn (no change) Miriam Porter, Director Becki R05s, Operations Manager Lorraine Pearson. Office Manager Sandy Murray. Heod of Finance Management Appolntments Inew to 20251 There were no new management appointments.. Jake Drake and Leah Halliwell left at the end of 2025. InneThatlon Tnmt LlmSted Trustees. Annual Report Year Ended 31" December 2025 Team Structure iSingPOP ORGANISA TIONAL STRUCTURE 2025 CawPhlVg• Strate8lc Aepprt Flnan¢lal Revlew The charlty experienced a challengin8 financial year in 2025. with continued pressure on schools, budgets affecting income against budgeted expectations. At 31 Decernber 2025. unrestricted reserves stood at a deficlt of £35,517, reflerting a period of significant cash flow pressure caused principally by the timin8 of income receipts rather than an inability to meet the charity's ongoing f inancial obligation5. During the latter part of 2025, a number of anticipated income streams were delayed. Deposlts relating to Diocesan Partnership Scheme IDPSI agreements were received later than expected due to approval proce5se5, whilst grant fundin8 that had been anticipated had not yet been received by the year end. These timing differences placed considerable pressure on cash flow during December 2025. Despite these challenges. the charity continued to meet its Obligat￿n$ as they fell due. Payroll. HMRC liabilities and pension contributions were all paid on time, and the charity continued to meet its commitment5 to suppliers. Throughout this period, management maintained detailed cash flow forecastin8 and closely monitored the charity's financial posrtion. Innervati￿ TTh￿t Llmltod Trustee< Annual Report Year Ended 31° December 2025 Since the year end, the charity's financial position has strengthened significantly. Delayed income has been received, deferred income has been recognised in accordance with the delivery of associated activities, and substantial 8rant funding has been secured and received. During 2026, the charity received the first instalment5 of significant grant award5, including funding to support the development of POPUp Chur¢h and the associated staffing required to deliver these projects. These developments have strengthened the chartty's cash position and improved confidence in its f inancial resilience. Alongside thls improvement in fundin& the charity has continued to develop its strategic directlon. The trustees have overseen a gradual shift from reliance on Diocesan Partnership Scheme income towards a broader and more dlversified income model centred on POPUp Church and the opportunities this creates for complementary products and services. The employment of a new fractional COO has allowed for outside eyes to look critically at our pricing structure and. If appropriate. make changes to increase margins. The trustees recogni5e the importance of maintainlng appropriate unrestritted reserves and remain committed to rebuilding reserve5 over the medium term. This oblertive forms part of the charity's strategic planning, and future budgets will continue to prioriti5e improvements in f inanclal resllience whllst enabling the charity to fulfil its charitable objectives. Following consideration of the year*nd position. subsequent events and future financial forecasts, the trustees are satisfied that It remains appropriate to prepare the financial statements on a goin8 concern ba51S. Desplte a challenging economic climate. we are incredibly encouraged by the steady demand for our core charitable services. Buildln8 on the succe55 of our Worcester and Coventry DPS schemes, the Church of England invlted us in late 2025 to partner with them on it5 'Growing Younger and More Diverse, initiative a national effort to double child church attendance withln seven years. In response. we made the strategic decision to pivot from the DPS model toward a highly duplicable trainin& resourcin& and networking programme. Following careful thought and prayer, we created PopUP Church. This excitin8 new initiative aims to establish 300 New Worshipping Communities over the next three years. equipping churches to build welcoming. child-led 4vorship spaces where families can grow in faith together." By worklng closety wlth the Church of England. we alm to: Increase th'e number of thildren attending church through engaging and inclusive worship experiences. Provide valuable resources and support to schools and parishes to enhance thelr religious education programs. Trustees, Annual Report Year Ended 31- De￿mber 2025 Foster a sense of communlty and belonglng among young people and their families. Create a sustainable business model that ensures the long-term viability of our project. Flnan¢lal Results Innervation Trust Llmited receives its fundin8 from three sources.. voluntary income and grants. income from Schools. weeks projects and income from the sale of music and merchandlse. Total donation and grant income, includinB Gift Aid amounted to £190,59712024: £225,951). 'Income from Charitable Activities, in the accounts, shown as £413,78812024- £323,980). Expenditure on Charitable Attivities has increased to £610,704 in 2025 compared to £524,642 in 2024. There was a deficit for the period of £24.25812024: £20.100 surplus). Prlnclpal Rlsks and Uncertalntles The Trustees have identified the major risks to which the charlty is exposed and have put In place processes and procedures to ensure that such risks are mitigated as far as possible. StructUTe, Governance and Management Innervation Trust Limited is a company limited by guarantee and is a registered charity governed by Its Memorandum and Artlcles of Associatlon and the compliance requirements of the Companles Acts and the Charities Act. The governance of the Charity is provided through a group of appointed Trustees who are also company directors and who give their time. expertise and energies to ensure that the work of the Charity makes a posltlve difference in fulfilling Its charltable objertives. New Trustees are appointed by existing trustees and given appropriate Induction and trainlng on appointment. Trustees who served in the period and up to the date of signin8 this report are listed 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 delivered successfully. Related Partles There were a number of transactions with ￿lated parties during the year. These are more fully disclosed in note 22 on page 29. 10 1rfftrvati￿ Tntst Lirni Trustee< Annual Report Year Ended 31" Decèmber Z025 In addition, the Trust has a subsidiary company. Innervation Trading Company Limlted. Innervation Trading was set up to process commercial transactions arising out of the Trust's charitable activities. Transactions with this company are more fully disclosed in note 22 on page 29. Publlc Benefft The Trustees are aware of the Charity Commlssion's guidan￿ 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. Trustees. Responsibilltles The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practlce (UK GAAPI. Including Flnancial Reporting Standard 102: The Financial Reporting Standard appllcable In the UK and the Republic of Ireland IFRS 1021. The law applicable to charfties In England and Wales requires the Trustees to prepare financial statement5 for each financial year that give a true and fair view of the state of affairs of the charity and of the Incomin8 resources and application of resources of the charity for that period. In preparlng the financlal statements, the Trustees are required to: select suitable accounting policie5 and then apply them con515tently,' observe rhe methods and principles in the applicable Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, 5ublect to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it Is inapproprlate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accountlng records that are sufficlent to show and explain the charivs transaCtion5, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounts and Report5) Regulations 2008 and the provisions of the Charit￿5 constitution. They are a150 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the financial information included in the charivs website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdiction5. In preparing this report, the Trustees have taken advantage of the small companie5, exemptions provided by section 415A of the Companies Act 2￿6. 11 Innervation Tn•t Umlt•d Trustee5' Annual Report Year Ended 31" Oecember 2025 The Trustees. Report and the Strateglc Report were approved by the Board on 21st July 2026 and signed on its behalf bv Roger Morrls Chalr of Tru5tee5 12 InDervallon Tnmt Umlted Independent Examinerfs Report Year Ended 31° December 21n5 I report to the charlty trustees on my examination of the accounts of Innervation Trust Limited for the year ended 31 Oecember 2025 whbch comprise the Statement of Financial Artivltles, the Summary Income and Expenditure Account, the Balan￿ Sheet, Statement of Ca5hflows and the related notes. ResPon￿bIlItIeS and baslsof report As the trustees of the charity land also its directors for the purposes of company lawl you are responsible for the preparation of the accswnts in accordance with the requirements of the Companies Act 20061'the 2006 Act. Having sat15fied myself thatthe attounts of the charityare not required to be audited under Part 16 of the 2006 Art and are eligible for independent examination. I report In respect of my examlnètlon of your charity's accounts as carrled out under sertlon 145 of the Charities Act 20111'the 2011 Act'l. In carryin8 out my examination I have followed the a￿kable Direttions 8Sven by the Charity Commlssion under sectlon 14515llbl of the 2011 Act. Independent examlner's statement As the charity's gross Income exceeded £250,CW your examSner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am quallfied to undertake the examlnation by being a qualified member of Institute of Chartered Accountants, En8land and Wales. I have completed my examSnation. I can confimi that no material matters have come to my attentlon in connection wlth the examlnation which 8ives me cause to believe that in, any material respect.. the accounting records were not kept in accordance wr(h sectlon 386 of the 2[￿ Act and sectlon 130 of the 2011 A¢t- or the accounts did not accord with those records: or the account5 did not comply with the a01¢ab￿ accounting requirements conoming the fom and content of accounts set out in the tharities (Accounts and Reports) Regulations 2{￿ and under section 396 of the 2CQ6 Act other than any requirement that the accounts give a'true and falr, view which is rtot a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the CharTtie5 50RP IFRS 1021. 13 Independent E￿inerf$ Report Year Erthd 31° December 2025 I have no concerns and have come across no other matters in connection with the examination to which attentlon should be drawn in thi5 report in order to enable a proper understanding of the ccounts to be reached. Ellzabeth Eyre FCA Chartered Accountant Elizabeth Eyre Limited Bank Street Business Centre 6 Bank st￿et Malvern WR14 21N .Date 2*1fr1 2026 14 Inner¥•tk￿ TrLMtLbThied qlncwp(rting an Income and Expenditure Account) Year Ended 31° Decem1￿ 2025 Notes Unrestrirted Funds Restricted Funds Total 2025 Total 2024 INCOME FROM Oonation and grant income Charitable Artivities other Trading Activitles Investment Income TOTAL INCOME 141.676 413,788 48,921 190.597 413,788 2.5(Kl 225,951 323,980 7,518 302 557,751 558,LM8 48.921 006.969 EXPENOITURE ON Raising Funds Charitable Activities TOTAL EXPENDITURE 20,523 592,341 612,864 20,523 610.704 631.227 13.009 524,642 537,651 18.363 18,363 NET INCOME AND NET MOVEMEKf IN FUNOS 154.8161 30.558 124,2581 20,100 . RECONCIUATION OF FUNDS Total funds brought forward 19,299 4,992 24291 4,191 TRANSFERS TOTAL FUNOS CARRIED FORWARD 19 135.5171 35,550 33 24,291 The notes on pages 18 to 32 form part of these financkil statements. 15 Inner¥ation Tn￿t Liffllted Balance Sheet At 31" December 2025 Notes 2025 2024 FIXED ASSETS Intangible fixed assets Tangible fixed assets Investments 12 13 14 1,175 44,430 i￿) 1,410 17,402 Ico 45.705 18.912 CiJRRENT ASSETS Stock Debtors Cash at bank and In hand 10,099 46.914 14,928 17,658 69.294 101,880 15 60,618 CREDITORS: Amounts falllng due wlthln one year 16 194.790} 185,Wll NET CURRENT ILIA8IUTIES)/ASSETS 134,172> 16,879 TOTA& ASSEfs LESS CURRENT UA81UTIES 11.533 35,791 CREDITORS: Amounts fallln8 due after m¢xe than one year 18 111,5001 Ill,5￿) NET ASSETS 33 24,291 FUNOS Restrleted Income funds Unrestricted income funds 19 19 35.550 135.5171 33 4,992 19,299 24,291 For the year endin8 31 December 2025 the company was entitled to exemption from audit under sectlon 477 of the Companies Act 2C(J6 relating to small companies. The members have not required the company to obtain an audit of its financial statements for the year In accordance w¢th sectlon 476 of the Companies Act 21x16. The Trustees acknowled8e their responsibility for complying with the requirement5 of the Art with respect to accountlng record5 and for the preparation of financial statements. The financial statements have been prepared in accordancewith the provisions applicable to companiessubject to the smèll Companies reglme. These financial statements were approved and authorised for issue by the board of Trustees on 21" July 2026 and signed on their behalf ￿. Roger Morris Chair of Trustees The nOt￿S on pages 18 to 32 form part of these financial statements. 16 Statement of Cash Aows Year El￿ 31" December 2025 2024 Cash flows from operadni actl¥ltles Net lexpvthrellrtTh per Stslement ofFln•Kial Artivitles 124.2S81 20,100 AdSustments fw. Depreciation of property. plant and equipment Loss on fixed asset disposal Ilncreaselldecrease in Stock Amortisation IlncreasellDecrease in trade and other receivables Increa5ellDecreasel in trade and other payables 9,130 839 4,829 235 129,2561 9,789 5,733 4,275 235 80,918 161,8561 Net cash used In operailrvaacuvltles 128.6921 49.405 Cash flow5 from Investhi8 actlvttles Payments forproperty, plant and equlpment 136,9971 114,6291 Net cash used In Investlry artlvltle5 136,9971 114,6291 Net cashfrom fln4ndn8 actfvI￿eS Net {deue¥selllncrease In ￿$h and cash equlvalents 165,6891 34,776 Cash and cash equlvalents at the be8InnI￿ of theyear 69,294 34.518 Cash and cash equlvalents atthe end ofthe year 3,605 69.294 Components 0f￿sh and ￿5h equlvalents Cash and bank balance5 3,605 69,294 3,605 69.294 17 Innervation Tntst Llmll•d Notes tothe Financial Ststements Yeaf Ended 31° December 2025 Company information Innervation Trust Limited was incorporated in England and Wales as a company limlted by guarantee (registered no. 067279791 and has no share capital. The liability of members in the event of winding up 15 limited to an amount not exceeding £1 per member,. the number of members as at 31° December 2025 was 6. Innervatlon Trust Llmlted Is also ￿gIStered as a charity with the Charity Q>mmi55ion Ire815tered no. 11317571. The re8lstered offlce of Innervation Trust Umlted Is Unh 27, Cotteswold Dairy* Dalry Way* Tewkesbury GL20 8JE. Accountlng pollcles The following accounting p)Ilcles have been applled consistently in dealing wlth Items which are considered material in relation to the charitable compan￿$ financial statements- 8asls of *¢tountln8 The financlal statements have been prepared under the hi5torlcal cost convention. The fTnancial statements have been prepared In attordance wlth Accounting and Reportlng by Charitles: Statement of Recommended practi￿ applicable to charities preparing thelr atcounts Sn accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffertlve I january 20191- ICharrf(ies SORP IFRS 10211 and the Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland IFRS 1021. Innervation Trust Llmlted meets the definition of a publ[¢ benefit entlty under FRS 102. Goln8 cO￿ern er the year, experbditure ex￿eded income by £24,258 resulting in a funds position of £33 at 31° December 2025. Restricted funds at that date were £35.550. 'The Trustees have prepared projection5 of the inwme and expenditu￿ of the charity for 2026. The trustees and managementteam are confident that. with the resumptlon of projerts, the new digital resour￿5 a￿ the support of existing donors. the charity ha5 5ulficient cash to meet its liabilities a5 they fall due. 18 Inneryation Tn*t Llmit•d Note5 to the Flnanual Statements Year Ended 31° De￿mber 2025 Accountini polides (Q)nedl Group accounts The Charlty Is exempt from the requirement to prepare consolidated accounts by the vlrtue of the size of the group. These financial statements therefore prwnt infomation at#)ut the charity as an Indivldual company rather than as a group. Income Income Is Included In the Statement of Financial Attivltie5 when the charity 15 legally entltled to It, receSpt is probable and the amount can be quantified with ￿tSOnab1È accuracy. Investment incomels accounted for the period in whkh the charity is entitled to re￿ipt. Expendlture Expenditure is Included In the Statement of Financial Activlties on an accruals basls. Costs of ra15in8 funds comprise those co￿5 Incurred in generating donations and legacles. The Trusvs charltable actlvity is the advancement of the Chr15tlan faith Wofldwide. Costs incurred In furthering these alms are related to running schools weeks, including tOSts of merchandising and organisin8 events. It also includes governance costs which are costs incurred for wnningthe tharity Itself as an organisation. Includin8 costs related to the independent examlnation and accountancy. All￿allon of support costs All costs are dlrectly attributable to specific actiVTtles. Penslon xheme The costs of provlding defined contrfbutlon penslons are charged to the SOFA as they fall due. The difference between ¢ontributions payable in the period and those actually paid are shown a5 accruals in the balance sheet. The penslon costs are allocated to the unrestricted fvnds as this is where staff Costs are all¢xated. 19 Inner¥*ion Try￿t Llmlted Notes to the Flnan¢ial Statements Year Ended 31° December 2025 ACC{￿ntIng policies {CoDVd) Tangible fixed a55ets and dtpreciatlon Tanglble fixed assets are stated at cost less depreclatlon. with assets greater than the de-mlnlmls of £500 being capitalised. Depreciation is provided at rates calculated to wrote off the cost of fixed assets, less thelr estimated residual value over their expected useful lives on the following basis: Fixtures, fttings and equipment Motor Vehicles 25% redudn8 balance 25% redutin8 balance St*xk Stocks are valued at the lower of cost and net reallsable value. The stock held Is merchandlse for resale. Oethors Trade debtors and accrued Income are reco8nised at the settlement amount due. Prepayments are valued at the amount prepaid. Cash at bank and In h•nd Cash Is represented by Cash In hand and deposits wlth flnanclal Instltytions. Credltws Creditors are recognlsed where the charfty has a present obligation 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 obli8ation can be measured or estimated reliably. Funds Funds held by the charity are either: Unrestrirtedgeneralfvnds These are fund5 that tan be used in accordance with the charitable objects at the discretion of the Trustees. Restrictedfunds These are funds that can only be used for particular restricted purwses withln the objects of the charity. Restrictions arise when Specif￿ by the donor or when funds are raised for particular restrirted purposes. 20 Notes tothe Flnandal Statements Year Ended 31" Iyecember 2025 Accounting polides (Convdl Flnanaal Instrnments Innervation Trust Limited only has financlal assets and finanual liabilities of a kind that qualSfy a5 baslc financlal Instrumenls. Basic financial instruments are initially reco8nised at transaction value and subsequently measured at their settlement value. Operatln8 lease Rentals appllcable to operating leases are charged to the SOFA on a strai8ht-Ilne basls over the term of the lease. Recognltlon of IlabllS118s Llabilltles are recognlsed once there is a legal or constructlve obli8atlon that commits the charlty to the obligation. T￿atIon The company Is a re81stered charity and a5 such is entrtled to tax exemption on all its income and 8alns, properly applled for Its charitable purposes. VAT Irrecoverable VAT is charged as a cost a8ainst the artlvtty for whlch the expendlture was incurred. Crfllcal xtountln8 jud8¢Met￿ and key sources ol e5tlftMlloTr uncertalnty Estlmates and judgements a￿ continually evaluated and are based on hlstorlc31 experlence and other factors, inelvtling expectations of future events that are believed to be reasonable under the clrcumstances. The annual depreciation charges for the tangible assets are sensitive to changes in the estimated useful Ilves and residual values of the assets. See note 13 for the carrying amount of the tangible assets and note 2 for the depreciation policies. It is anticipated there may be a material adjustment regardlng the assets and1Sabilitie5 in the next reJ)orting period in order to ¢omply with SORP 2026. 21 otes to the Fimncial Statements Year Ended 31" December 2025 Income from Donati47ns and Grants Unrestricted Restrirted Funds Funds T¢)tal 2025 Total 2024 Regular donations One-off grants and donatlons Gift ald 57,686 76,154 7.836 141,676 57,686 125.075 7,836 190,597 47.806 170.677 7.468 225,951 48,921 48,921 In¢iwne from Charftable Actl¥ltles Unrestricted Funds Re5trfcted Funds Totsl 2025 Total 2024 Project Income Digital resources Income from CD sales Other merchandlsln8 intome Royalties 292,555 82.873 292.5SS 82.873 216,729 82,843 36,￿8 1,752 413,788 36.608 1.752 413.788 22.380 2.028 323,980 S. Incorne from OtherTradln8 Acuvltles Unrestricted Funds Restrirted Funds Totsl 2025 Total 2024 Bank refund Sale of song li￿n￿5 Loans written off Other income 2.500 2.500 7.518 7.518 Note5 toihe Financial Statements Year Ended 31" December 2025 Expenditure ¢)n Ratslng Funds 2025 2024 Travel and subsistence PrintlnB Postage Dancing Leaflets London Marathon Church presentation FundralsSn8 consultancy 20.523 20.523 13,C#J9 13,CKJ9 Expendlture on Charllable Artivlil•s 2025 2024 Purchase of merchandise Project and equipment expenses Motor and travel expenses Entertalnment and hospitality Publidty Keep on Singing Support wsts (note 81 Governance Costs (note 81 17.759 95.126 29.563 3.687 11.233 11,870 77,475 18.967 3.440 11,201 443,895 9,441 610.704 393,699 7,990 524.642 23 Inner¥ation Tntst Llmll•d Notes tothe Financial Statements Year Ended 31" December 2025 Goveman¢e aNI support costs Support Costs Governance Costs 2025 Salarles, wages and related costs (note 91 Tra1nin8 Admlnistrative expenses Premises expenses Professional fees Insurances Gifts Bank Charges Independent Examlnerfs fees Accountancy fees 394,275 612 23,831 24,237 394,275 612 23.831 24.237 414 5.056 414 5.056 1.536 2.435 9.441 1.536 2.435 453.336 443.895 No support CQSt5 have been allocated to grant makln8 activitles12024'. nlll. Staff casts and numbers 2025 2024 Salarles National Insurance Pension Costs 357,125 29,129 8.021 394.275 328,528 22,284 7,114 357,926 The avera8e headcount number of staff durin8 the year was 1512024: 151. The remuneration of the key management personnel was £177.06112024: £189,135). No employee was paid more than £fA).OW in the currertt or previous financial year. io. Trustee rernuneratlon Trustee expense5 of É012024- £0) were reimbursed in the current financial year. During the year donations of £820 were given by the Trustees to the charity12024= £61xJ}. 24 InneThalion Trust Lwnlted Notes tothe Finandal Statem Year Ended 31" December 2025 ii. Net Income This Is stated after charglng: 2025 2024 Rentals under operating leases Depreciation Amortlsation Accountancy Costs Independent Examinerfs Fees 9.130 255 2,435 1,536 5,733 235 2,725 1,482 12. Intan8lbl• flxed assets Websfto Cost.. At I" January 2025 Additions irt year Disposals Al 31" December 2025 2,350 2.350 Depreciatlon: At I" January 2025 Charge for the year Disposals At 31" Oewnber 2025 940 235 1.175 Net Book Value: At 31" December 2025 At 31" December 2024 1.175 1,410 The website Is amortised on a straight line tsa￿S over 10 year5. 25 Notes to the Financial Statements Year Ended 31- December 2025 13. Tangible fixed assets Fixtures, Fittings and Equlpment Cost.. At l January 2025 Additions In year Disposals At 31" December 2025 47,604 36,997 11,4681 83.133 Depreciatlon.. At I. January 2025 Charge for the year Disposals At 31. December 2025 30,202 9130 16291 38.703 Net Book Value.. Ai 31° December 2025 At 31" Oecember 2024 44,430 17,402 14. Investment In subsldlary 2025 2024 Cost at I" january and 31 Oecember 100 100 The 5ub5idiary is Innervation Trading Company Limited. company numberO5653870. which is l(4YA owned by the Trust and registered In England and Wales at Unlt 27 Cotteswold Dalry Estate, Dairy Way, Tewkesbury GL20 8JE. 15. Debtors 2025 2024 Trade debtors Owed by subsidiary Prepayments and accrued Income 39.569 631 6.714 46,914 16.548 443 667 17.658 26 Note5 to the Financlal Statements Year Ended 31" Dttember 2025 16. Creditors: amounts fallirq due withln one year 2025 2024 Trade Credltors Loans Taxation and soclal security Accruals Other credltors Deferred income (note 171 4,869 923 7.120 13.061 1.426 59.314 94,790 5,123 3,371 1.778 64.806 85,001 The loans are unsecured, Interest-free and repayable in eqLbal monthly instalments of £5￿). 17. Deferred Inwm• 2025 2024 Amounts brought forward Amounts réceived In the year Amounts utlllse(i durin8 the year 126,979 1126,9791 64,806 64,806 164,8061 59.314 59,314 Deferred Intome arlses when schools and churches are Involced in advance for fLrture prolert5. 18. Credltors: amounts falliry due after more than one year 2025 2024 Loan 11,500 11,500 The loan15 un5ecu￿d, inte￿t-free and repayable in equal monthly instalments of £500. 27 InneNatit)n Tntst Llrnlted Notes to the Financial Statements Year Ended 31° December 2025 19. Movement in funds As at 01.01.25 Income Exp•Kllture Transfers As at 31.12.25 Restrlcled funds: Classroom Worship Lancaster Foundation Ninetyfold Souter Trust 705 170SI 12.6441 113,3711 11.6431 118.3631 48,921 35,550 1,643 4,992 48.921 35.550 Unrestrlcted Fund5 Totsl Funds 19.299 24,291 558.048 606,969 1612.8641 1631.2271 135,5171 33 Classroom Wor5hlp- fund5 raised through the Three Peaks Challenge Lancaster Foundation- fundin8 for Son8book Ninetyfold- funding for Songbook Souter Trust- fundlnB for Songbook 'Funds from the Bursary Scheme were previously Incorrectly treated as restricted funds. These funds have been transferred to'unrestrlcted lunds durin8 the year. 20. Net assets by fund Intangible and Tangible Fixed Assets Creditors Due After One Year Net Current Llabiltties Investments Total Unrestricted Funds Restricted Funds Tot31 Funds 14.254 31.351 45,605 ILX) 138,3711 4,199 134,1721 111.5CM)1 {35,5171 35,550 33 100 111,5001 28 Inner¥akn Tn￿l Umlted Notes to the Financial St*ements Year Ended 31" December 2025 21. Flnanclal instruments 2025 2024 Flnancial assets measured at settlement value Financial liabilitles meaSU￿d at settlement value 49.888 {38A301 86.509 124,7941 FSnancial assets measured at settlement value compdse cash. trade debtors and actrued income. Financial liabilities measured at settlement value comprise trade creditors. Brant commitment, loans and accruals. 22. Related party trans¥tions Innervation Tradin8 Company Llmlted IYradin