Ch•rlty r•glstratlon numbor 1186255 {England •nd Wal•4) Company rngl•tratlon numbw 09243292 INVISIBLE FLOCK CO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INVISIBLE FLOCK CO LEGAL AND ADMINISTRATIVE INFORMATION Trust••s J Audlbert B Elliot C Schoeps B Esapathi Dr R Lablanco M Mason Mrs A M Athique Winlerbottom (Apwjinted 10 June 20241 (Appolntgd 19 May 20251 Charity number 1186255 Company numb 09243292 R•glstsr•d offk• Unlt 8a Longsido Jebb Lan8 Haigh BArn￿•Y S75 4BS Ind•p•nd•nt •xamln•r CK Audit No d Ca$ile Court 2 Castlegale Way Dudley West Mldlands DY14RH INVISIBLE FLOCK CO CONTENTS Page Trustees, report Indep•nd8nl gxaminorf$ report Stalemenl of ffinandal activiles Balance sheet Notès lo the financlal slatèm&nts 10-19 INVISIBLE FLOCK CO TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Thg Trustees present thelr annual reF¥xl al￿ Ilnandal statements fw th? year gnded 31 Marth 2025. Th& ffinanc4818tatsnwnts have b8gn prepared kn actsJrdAnce with the @C￿unting pdicAes sel out in the n¢)t88 to tha financial ¥tat8mtrnts and Comply with the Charilabl• Companls Artides of Association, Compani•s Ad 20( and "A¢¢ountlrYJ and Reporting by Charhies.. Ststement of RecommeThJed Practice applicable to charrU¢¥ preparfwj thgir accounts in a¢￿[￿4￿¢9 with thg Flnan¢lal RoFxylng Standard applkabl8 In th8 UK and Republ1¢ of ITel•NJ IFRS 1021. leffectsve 1 J8nu8ry 20191. ObJ•ctlv•s and actlvltl•s The tharity Iruslees havo had fggard lo the ¢hgrity ¢oThmlsslon's publlc bonofit gUIda￿ whon exoffising any powers or duties to which th8 y￿danc• Is ralèvant. This indudes being aware of Ihe guklanctt and t*irvJ it into account when relevant. Invisible Flock's charitable rt•lè¢tfves are.. Thè promolion of the 8rts. in p8rtKul8r, butnot exdusivety. the artof drama. Inwsible Flock are rnUI￿8waftJ-￿nn1ng a￿sts. W& ￿¥t& athrks and spacos Ythoro human and plangtsry health meet. Our Practice fus8$ tgchnolcfjy 8nd naturèl materials tdlaboi8ting with environments and eommunftles lo fom layered undèrstsndiNJs of place. Our lwrk ￿$ts In oxhibwon. advo¢a¢y. publlc and t1kJitsl ¥>a¢es. Through transdlsclpllnary coThatrmllon3 wg work across sédors to hav6 8 crèauvè impaet on ecology, poltucs, health and Society. Our work directly addresses sy51emic stru¢luw and polldes Ihal Impact ¢onwnunities' ￿nd and cultural rights. We ar• dr￿n byfour core aims" 1. Ecological a¢tion - Culiur• can forogr￿Jnd comrr4Jnty led sdution5 to dimate, ecosyst￿ And plan•lary h•81th k%su8s and transmit ideas through poetK and meaningfijl artistic engagements. IF wor*s tr) mainstrsam evltUf81 approaches as vilal mechanisms through which to evidence succtssful community dimate a¢fjon. 2. Global connedivity- Work for of diver58 forms of knovA•dge In solvlng glDbal challenge8. bringing 8ttentK)n and 8d(nowfe¢Jgm8nt to Ive(l experlènce$ thBt marginallsed, ovorfookg<1 and complox. Prlortuze depth, detail and complèxlty of human ax￿￿•ne0 alongssde other forms of cllm4t• data through cross se¢tor cotlabor8Uon. 3. Technical fluency Explore how srjence and lethnology ¢an conngd u$ to ￿$Y$l9￿￿ and inspire the way we think about and exwionce thè wodd. T8ko 8 crftseal approach to the design and use ol technologles as a materfal for maklng Wofk, one th•t is ￿lable, rn811eobl$ and uknmately falllble. 4. ColLqboratlon Bulld lasting partnerships to expand kn￿ed9￿, d$¢pgn community and extend the posslbillties of what might b& created, with who and where il might exi81. Lead in the development ol tr3nsdlsdplinary partnerships aThJ ways of working, betsfften 3ectors, for longer term and strategic y￿YS of dolng worf( that Is ¢dlolx)ratfvo, liorab￿9 and conrffjcts lo real workl action and decls5on ma￿ng. INVISIBLE FLOCK CO TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Invlslbb Flock Is a multl•award vhnnlng studkn pushlng al the deflnllons of what art praclice can lts)k lik&, whère It happens and who il happens with. Envlronm•ntsl Statèmènt EvèrythM)g is aliv&. all thing8 are èqual. Humans are not separate fr(*m the enviTonrnent, our INes. ow storie& our histories ond our heatth k8 deepty gntangled wlth the nalural wortd. Through explorlrKJ the Ilve(I human experSenc¢s of cllmate chan9e whllst algo reclaiming the human t¢)dy a8 8n extension of nature, w8 might throLtgh Ihis duality r8ach the polentlal to slmultaneou$ly heal human and 8C05yStem h vthlle In$plrOng ¢olle¢Alve a¢tlon ag8ln$l tho $bwrAur81 for¢o8 un¢Ywplnnlng dlmallc and ènvlronmentsl change. To become more resilient lo the irnpacts of clmate thange, we must focus on the people are aetuolly th8 most impacted. unde￿tandIng that addre￿ng the dimale crisls and solving Inequalllies are Inextricably Ilnked. Wè canr￿1 eTrJage wlth the dlmate crfsis wit￿)￿t deeply addressing Iwuality and radal Inlusllco. Invlslbl8 Fknck's work $8eks lo undorstand and Ltncover parts of nature wg aro ￿t tuned In lo, and to listen, undarstand and valu• oth•r ￿VIng thin9s Ihnugh a process of d&ap listsnin9. Young peoplo need to ￿ given the spaco and capacity to conjure U)giT imagln8tion. there Y6 no dear fflap of whgt the worfd will l¢ok like, no sol stnjdures forthem to follt>w, imxgination and agency is key. Let's bulld a dmlerent klnd of hope, that incorporates neliher denial cf bllnd optimlsm but the ¢Ygalive onergy of actiwsm,. Avoiding thi8 fate wll depend crilKalty on the stories we create to make sense of what is hap￿nIng ond to frame our response. A key task k8 to ensure Ihat th8se stories reflect neither Ihe d¢Gadencg and degeneracy of nihlism nor th8 dogma of fundamentalism but the hope and creative enew of activism. Adlvllles Our work follows 3 strateglc strands: 1. Innovatfv• Artworks & Inter¥•ntlons - Enyoglng #udl•ne•s In o varl•ty of fomi¥ and spaces We continue 19 experfiment and push at new exp¢rfenli81 forms of 8rL bringlng workI￿a$S (￿ltUre to audierTrces in the UK. Through this slr8nd we erwJage larytr. diverse audien¢e$ and partlClP8nts in a variety of forms and spaces. finding poets'c waya to mtret anLI move our audÉgnco5. Our strategy to widen public access to our WO￿ is achieved through how we approach both $it8 and artform. Our works have multiple ￿￿nts of a￿esS and audiences. you can find ujr work in nabjre. in g8118ri&s 8NJ musÈum8, on mobile phones and in publlc spac￿. in print and out at sea. We work in a huge varièty of contexts. from low gngag8m•nt areas In rural parts of England, to cty streets up and dcrtm tha county, always ￿nSidering Ographieal roach. site and Inclusive design at &v8ry18vg1 of production. 2. Global Envlronm•nt41 Communttl•$. Tr•M(Ilxlpllnary partn•rshlps Invisible FIG*k has over 100 Ibve and lorvJ la$ling inlematitsnal partnèrships across the wortd. Our Int8mational partnershlps arn with other artists, 8cologtsts. Indigenous leaders. cultur81 org4nisalM$ and lestivals. designers, technologists, 8cademiG$ and more. Th￿v9hOUt our 17Yea￿ we h8vg contlnu&d to $lTrn9*Jen our int8matFonal conngctions lo othgr cultural organlsatlons and cr&atlvo and cullurAI pr&ctAllon&rs. We bulld Intemètional ￿lat￿nShipS that are ongolng not IKnll&d to one off events, but groundèd ￿ suslain8bilty, trust and shared ch8lleng6s. We prforlttse rns6Arch &nd devolopmentpr8ctlces, embeddlng oursefves deeply wklyn a contexl and eollthborating always with those who hawe doep ptrrsonal knowledge of Ihat conlexl. INVISIBLE FLOCK CO TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 3. Dev•loplng Future Praclk•s- T•chnl¢al Innovatlon, ¢ollab¢ratlon •nd $klll bulldlng Invisible Flock is committed to supporting critical innovation. research and development. new $kill$ and the use of ngw te¢hnologlg$ to enablg gnd empow&r atlsts to be the 4￿h1t&Cts ralher than congum8rg of ngw tèchnology. This ltiology is at th8 h8art of our sludio. In a perpelu3lly evolwng wodd of le¢hnok)gies, 8rti51s need lo be in 8 constant stale of learning. traSning and iteralion and we interKI to drive and 3h8ro this process, dr8wing from other se¢tots and skill sets, as well as practical R&D. In order lo be able to engage Criti'cally with an increasingly politicised techndogical sector and to understand the elhical and envI￿nMental impacts of new technology there is an opporiunity for artists to ￿lmagIn0 ts¢hnoWs applications and parameters. As 8 siudio we have always begn Int¢re$ted in te¢hn¢Yogy a$ a materlal maklrtg worK or* that is pliable. m81108bl¢ and ultimat¥ly lalliblo. We are Interestsd Sn ¢watlng kn¢)wledge and ¢ap8eMy for artisti¢ pracltce lo Ident thè gaps wherg technolfYJy and ¢￿tUre meet and grow there In a mBnn8r that 1$ crhl¢8lly di$ruplive. Achl•v•ments and p•rforrnanc• Signif￿an1 ad1vil￿o$ and achigvgn*nts 8gw.nst o¥scllv•$ Our works are longform both In deveh)pment processes that span mulilple years but also prosgntlng compltsted works In multlple eontexis In order to expand potentkal aUdIen￿S. 2024r25 prgdominandy had a dgvglopmgnt foc¥s wg lookgd to buld tours for 8xisting work whlle Keratlng ngw Works, relalion$hlp$ and opportunltles. In 8ddltion we ￿Mpleted our throe year Land Boty E￿￿OgieS residency Wbth Ihe Wellcome Trust which included signific8111 publishing, podcast and wonts Lwtpul. Here is an overview from the perspectfve of eath slrand. 1. Innovatlv• Artworf(s & Intèrmntlons We focussed on tourirg developrrent for ￿l¥ting works in¢luding.' Mrfcrotonal., an award winniro souThJ installat*)n eX￿orIng the strxie$, cultures aTrJ land that can bo found In betsveen the notes of the westem chromatic scale. Consisting of a 200 channel Bound installation eraatèd by 8 choNs 01200 unSque, handmad8 day tiorindos from the Slndh desert in Pakistan. This work one the Jury Priz$ 31 tha Karachl Biennale in 2022. We Invested in technlcal anij partnership development for tourfng thè work in 2026 Indudlng buildiThJ a touring application for Arls Council EngL8nd ac¥ostrfux tx*nfinned focaJons In the North of Englan¢J. Bothes Jomed by a Molecule of A￿. a on? of 8 klnd. h8nd ¢ast,18rp $¢ulp1V￿ orblnally commlssloned by tho Worfd Health Organisalion ￿ COP27 and COP28. We have been worf(In9 to dovolop plans for it lo be pwmanen in8tall8d in its final location in 2025126. The slee￿n9 Tree" a long form. durational. sound exper1er￿e connecting audienr*s with the Sumatran rélnfornst. Oesigned for orchestral halls and large spaces, the work presents 5000+hours of aud50 across 36 thannals of playbaek. eolleeted during a three month-long mapping process of this rare ecosystem. ProducUon development for the work look ￿&Ce. ready to exhlbit across three weeks at Wakefield Exc*ange In Aprll 2025. Development of an Au$tralian tour planned for 2027 Is und&rway. 808ln(Y, an immèrsrva sound èxpaftènea placlng 8udi8ncès h thè cèntrg of 3.000 rdndeer 8$ thoy ¢lrcle dudng thelr annual corral at the top of B081notyahkk8 mountsirb in S8pmÉ, thè Indig9rt(YJS goYeme(l area of the Arc*ic. The work 15 composed of audio recorded usw)g 360 degree spatial M1¢rop￿n8$ from inside of the C￿ra1. listening to thousands of rgindeers moving together, Iheir clicking h¢x)v￿ and bark¥ crgatin9 a unique rhythm. Exhlbltlon of the work has been c￿fi￿ned for 2028 wth SDG in SapmilNorway. INVISIBLE FLOCK CO TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 2. Global Envlronm•ntal ¢ommunltl•$ Th18 *rand had mutbpk outyjuts in¢ludlng'. Roleasing the fin81 podcèst in the ￿rrent award winning L8nd Body E¢ologie8 series Thg L*nd Has Changgd F Thom Too, which was laU￿hed In Bangalore wllh a Llstenlng Experience for the communlty that the Work was c¥eated with and in London at the Cellcome Coll8clion. A¢hi8ving over 6,000 1kn4nloads to dale. Publlshlng and dLstrfbutiro Thls Is a Forgst prolert publl¢8tlon. m8pplng the Pr￿8¥. Joumey 8n(l exhlbition In Leeds in 2023 Launching Slorie$ of Solaslalw published by Lawergnce WisharL a culminating outcom8 of th8 Land Boty E¢￿0910# projsrt presenting mulllple (xrtcom88 from acr058 all seven hubs contributing to the proi8cL Design. development and installation ol the Nalung Weather Stat￿n Sculpture, a permanent work created as part ol Pathways to Equltable Healthy Cities a research project in Ghana wth Imperial College London. K8roonjh8r ro$Klèw supportèd by Brrtish Council P8kistAn and 18d by L8hoob" Mdo tsking place in Karoonlhar Mountain$. in Nag&rparkar. Sindh. Poki$tan. whtrre ws p8rtKip¥t¢d a$ mentors for the arlists undertaking th9 sidency. Development of Voyage; a collaboration tefvmen Invisible Flock and Jenni Laiti ISaprnl} takjng placè 8cross tsvo summers12024 and 20251. Aconts'nuous 200 krn rowing relay look place in July 2024 wtth th8 mèmbers of the sarr communlty lfvlng along the Deatnu RfveT whlch borders Norway and Flnland. In 2025 wè wlll go to the river to document the arrival of the critically endangered Arctic salm1￿ and invasive humpbock salmon. The resutting exhlbltlon wlll be presented in SapmVNorway. Estonla and the UK. D•vèlopm&nt of Life 8nd L8nd.' 8 coILqborMtion btheen Invl$lbb Flod( and Lazy Man Coffee (Thailandl aftèr wg wers aw8rdsd vAlh th8 Wallcoma Trust Photogt8phy Priza LIV￿ Expariancè CLNnmission for 2025. Uslng onalo9ue photogrgphy ond local plants that on P9ak'yau 18nd 8$ bicTrdevglopgrs, we are experimenting with differgnt photographic m&thod8 lo expr￿ h¢N climate change 18 diredy and indirecuy aff￿ting the healih ol the ￿MmUnIty over tim?. The ￿￿ul1￿ exhibtion w￿1 be prgsenled in London, BaThJkok arKI Ban Nong Tao In 2026, O•v•loplng Futur• Practlc•s Intemol organisatlonal devebpment Sn our Yorkshlre studlo In¢luded' 12 weeks ￿onIng In Blo Art Lab #s prt of Waag Futurelab, Amsterdam wh￿h resulted in pres8nting a proA8ct olrtpui as part of tho BSO H8¢k Acadtrmy show. 4(X) Hives Is a collai*)r8Uon Land Boty Ecologies partners Ogpk Petsple5 Development Prr*Jramme and examines thg cultural and biologiral signlflcanc& of wild y￿51 ¢ultlvatèd frem Oolek HO￿Y. Experimentation wlh growng MYCe￿uM as part of the new sculptural element for Boalno. Building a darkroom and dgvgbplng now blo dwok)p$rs for plKStography as part ol Lrfg and Land. A￿d￿onallY we gx¢eeded tsrget flgur08 for our Resld8ncy Programm8 whth Included hO6￿ng. Ju Row Farr for a mlcro resklency durlng a week In Aprfl 2024 Maison Trampoline (John WaKer and Ale￿ndrO Luna} for a Bio Arts focussod rgsldon¢y 8¢r088 25 dayE spread over a 6 mon1h period in 2024 Three Bamsley based artsts" Ailish Treanor, Tala L88 Turton and Spenc8r Hugh9$ {supportgd by Bamsley Council) for a total of 25 days throughoutAugust 2024 This resultèd In S artists sp8ndin9 A total of 90 days in our studh) d•vèloping t￿lT pwtic• during 2024125. INVISIBLE FLOCK CO TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FQR THE YEAR ENDED 31 MARCH 2025 Press wa$ o¢hleved at¥oss o number of online and printed national and int8mati¢)nal 8venues induding.. Leeds r8dlo Chapel FM - Love Thg Word$: wDrds-259-invisible-floc -the- Ghana wlher sculpture., et5- eat ro Barn￿eY Rgsldency: htt s.. ltist-residenc. www.bprnsle -museums.com stor in -barnsle invisible-flock-barnsle Gh8na weather sculpture- htt h brid-3n?lo u&and-di -w3rnirb rÈliefweb.Int 5tem5 world combintrart-and-technolo -e3rl,.warnin -all- Bodles Joined- htt WWW.28w a.com en business healthcare m-launches-executive- lan-for-one-health- Fundraising p8rfomianGe A8 trnst6e$ responslble for Invblble Co. wa have taken Into account th8 Chartty COMMIS￿0￿* publlc t¢nefft guldance including the fdlowing: Making decisions to ensure our purp058 provides public ￿nefit Maklng docisions to manage risks of detriment or h8nn to our charfl￿$ benefirA8ries or to the Put4￿ general that might result from caryng out the purpose hAakFng deei5ions Mbout who b•n•fits in ways that are consislenl with the purpose Maklng ded8lon$ to maka sure any personal benefts are no more than inadental Flnanclal review Arts Council EnglarKI SUPFrfXted th• Lyganisaion with the followTh2 grants in 2024125 (which were treated as unrestrictsd In¢omel.' £198.558- National Pc(tlo150 Organlsallon IrKome r8eèN8d from welko￿ Trust in 2024125 totats £163.736. Due to the timing of grants re(4ved In 2023124 £255.373 rnstrfctad funds from Ihe Wallcom8 Trust wer8 81s0 used in 2024125. IrKome was also achSeved throl￿h the fdlowing stsnd8,' £8,850- Lwl Aulhority £85.411- Fees and Comrrdssion £10.500 - Othar Publlc Grants INVISIBLE FLOCK CO TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 Re￿n￿8 poIKy 11 is th8 FL)licy of the tru8tees to rwse and maintsin free reserves up to a level that equateB to 6 month8 operatlon81 expenditure plus redundancy Costs for staff. Due to the large scak nature of OUT work wa na¢d to Gon¥Khr substantial debtors, costs wrfhln this fwre. This was revlewed and updated in lighl of 0dditiono1 rlsks assodated th polltlcal uncertainty and economic reces￿On. The calculatsd Bmbltion for organlsation81 unreslricted reserv$s Is £209.930 Reseryes as of 31st M•rth 2024 are £337,040 con8i¥ting of £114,995 rts3tricted and £222.045 unrèstrictad amounts. Our current levèl of resÈNes provtde us wth rèslllence 8$ an organisatlon to not have to overfy rely on pursuing commls&ons or pr￿acts that do not ffit wlth our organi8atlonal objectN8s allowing us to davglop longer 8tr81ègic partnerships and larger bodies of work ft gives u5 room to autcmomousty build our alms and Snvest in ongoing arustic and projeet development. Stru¢turo. gov¢rn•n¢• and m&n•ym•nt The company is a Company Limited by Guarantee wthout share caprtal. The twst8aS th•r•fora do ntst have any Interest Sn the share capitsl of the company. Ntrw trust¢es ar¢ adv¢rNs¢d ry applicalons I￿￿t¢d, candid8ts8 Intsrvltw•d by the Creatlve Dlre¢tor and Executivg Producer who rgcomm?nd apt)ointment to thg board. The Trustees, who are a150 the dlr8ctor5 for the purpose of company law, and who served during th8 yaar 8nd up to the date of sKJnature ofthe financial slatements were: J Audibert B Elliot C Schoeps DrK Bhatt B E$8Path Dr R LabiaThx* M M88tsn Mrs A M Athlqu8 Wlnterboltom (Resigned 5 D8¢&mbar 20241 (Appointed 10 Juno 20241 IAppoint8d 19 May 20251 Thg TrLk8legs' report was approved by Iho Board ofTrustees. C Sc*o&ps Th￿t•* -ÈQI2,MISJtrJL.IDGMT+2 11 Sgpt•mbor 2025 INVISIBLE FLOCK CO INDEPENDENT EXAMINER'S REPORT TO ThE TRUSTEES OF INVISIBLE FLOCK CO I report kn Ihe Trn*e• ￿ my exarnlnakn of the Ilnancl818tatements of Flod( Co Oho Chjrftatlg Comp8nyl fortho >ffjorondgd 31 Mar(* 2025. R•sponBlblllll•s and I￿13 of r•port As the Trust808 of the Charlt8bl¥ Comp8ny (ond 0180 115 dlreGtor8 for thg purpD8e6 01 efjmpany law). you av• ￿$￿SIble lor the proparnllon af tho fln•ndal 6tatomfjnts In aGG(YdanGe ¥Ath thg requlr•mènls d thg Coff•8nle8 Act 2006. Havkng sausllod rny8gif that ￿ ffln￿da1 st8temeni8 of thè Chortt•bl• c￿ are not rewtr•d io l)e 8udit8d under Part 16 of the Companles Act 2006 and Bre eltgibfo for ind¢pendont oxamlnaifon. I reptyt kn re8p￿t of my oxamlnation of the Ch9ri1gbl8 Compan*8 )Inanclal $tatemonts cafflod out under 66ctlon 145 of thg Chgrtues 2011. In ￿rryIng out my exaMIn￿On I followed Dlrecdons gfven by the Charity Commlssiffi undeT 80Ctlon 145(5Xb) of th8 Charfll8B Aca 2011. Ihd•p•nd•nt •x•mlnrf$ $tat•m•nt sin￿ the charitab￿ Companvs gros8 kncome gXCe8dgd £250.OW. tho Ind0p￿￿nI oxamlner must be • mwnb8r of a body ll8ted In gectlon 146 of the CharMl88 Acl 2011. 1 conffimi thAt l #m qualthd to UTKlertak8 the examlnatk bOG9U8e l am 8 memberof ICAEW, whSch18 on8 of ts118ted tKKlle8. I havo ci*r*t•d my •xamln•llon. l L*rrflmi that no matter6 havo my attenkn In *lth tho mlnatlon ￿ng me Ca￿8 to bel￿¥8 that In any material r08pect accounung rocords wero not kept In rnspgct of thg Charftable COmp￿Y as rvquired by 386 of the COm￿nI•S Act 21Th. the ffflanclal statements do not accard with those re¢(MdB,' or Iho fin$ndal ¥t8tements do not corwAy wlth the accountlng requtrnments of sectkffi 396 of the Ctsmpariw Act 2CX)6 olher than any requirement that thg financi￿ Statem￿ gSve a true and fair vlow. lthlch 18 consldered a6 part of an IndepèrKl8ntoxamlnatson: or fin8n¢lal ststsmants hove not been prepared In accordanc8 wllh thè method8 and prkKlpl88 of tho Stslem8nt of RetDmmendgd Pr8Gtlce for accounllng and rerAJrttng by thaTRlg8 applicaL4e to th8rlle8 preparing thèir ffinanraal ststem8nts in a(￿rdance with tr• Fknanclal Rep￿11￿ Stsndard applk8ble In UK arHI R8p&>llc of Iref8nd (FRS 102). I have no coneems aTrJ have com• acros$ no othèr mattèfs fft eMn•¢tbn th tho •xamlnaUDn to vthlth alt8ntk Should b8 drawn In th18 report In ordèr to an0￿& a wop8r undortstandlng of thg flnancLql statèments to be reachad. Fran¢M Ciapham F¢A CK Audlt No 4 Cpsue Court 2 Castlegale Way Duday West Mldlands DY14RH Datèd: 11 Soptsmber 2025 INVISIBLE FLOCK CO STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unre•tsided R¢*tricted funds funds 2025 2025 Total Unrgstrithd R•Jtrlct•d funds fvnds 2024 2024 Total 2025 2024 Mot Income and endowm•nts from: Donations and legac Charit8bl$ 8Ctivits•s Othèr Incom 209.088 118,244 50 139,703 348,791 118,244 200,646 637,424 656.549 11,384 857.195 648.808 Total Incom• 327,382 139.703 467,085 838,070 667.933 1,506,003 Expandltura an: RBisiThJ fund8 chantab￿ actlvitles 2.548 326,507 2.548 781,343 454.836 807.914 426,537 1,234.451 Total •xp•ndlturn 329.055 454.836 783.891 807.914 426,537 1,234,451 Net In¢om¢ll•xpenditur•} 11,6731 1315,133) {316,8061 30.156 241.398 271.552 Transfws bab￿••n lund$ 22,0(X) {22,CQOI N•t movgm•nt In funds 11.6731 1315.133) 1316.8C6) 52.156 219,396 271.552 Rè¢on¢iliatlon of fund*: Fund bala1￿83 al 1 April 2024 223,717 430,128 653,845 171.561 210.732 382.293 Fund bal•n¢es at 31 March 2025 222,045 114.995 337,040 223,717 430.128 653.845 All Income and exPend￿re delive from continuing activilies. Th• not•s on pages 10 to 19 form part of th*￿ finandal slat8m8nts. INVISIBLE FLOCK CO BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Fixed assets Tongible 12 128.397 135,289 Current *￿•ts Dgbtors Cash at bank and in hand 13 45,834 179.291 16,588 583.189 224,925 599,777 CredStors: amounts fallSng due wSthln ong yur 14 116.2821 181,221) Net ¢un•nt ￿8•￿ 208,643 518,556 Total asgetg 1•99 curr•nt li•bilrti•s 337.040 653.845 The funds of the Chrltabh Company Restricted Funds G?n?ral Unrgstricted Funds D&s￿nal•d Funds 16 114.995 430,128 142,559 79,486 144,231 79,486 222,045 223,717 337,040 653.845 The notes on pages 10 to 19 form part ofth&s8 financial statements. Thg ￿MpanY 1$ anlU9d to thg gxamptlon from tho audll requiremont conlalngd In sectkjn 477 of tha Companlos Act 2006. for the year ended 31 Marth 2025. The diredors acknowledge their rgspon8ibilities for c FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Govomanc• costs 2025 Support Govern4nce eosts ¢osts 2024 Stsff costs Insuraneé Offlce oxpons Prinling. poslage and courier chaTge¥ Light and heal Sub$¢rfpVon$ Repairs and malntenanr Administrative assi8tant Bank ¢h8rge$ 208,383 10,007 6.767 208,383 10,007 6,767 254.168 9,745 3.059 570 254,738 9,745 3.OS9 1.041 {16.0371 4.2TT 1.041 116.0371 4,271 2.540 22,695 2,946 22.895 8.281 7.210 8.281 7.210 2,006 6,411 14.831 3,063 6.411 14.831 3.063 Audit fees Legal and professional 3,450 5,204 3.450 5,204 7,150 9,200 7.150 9,200 231.935 240,589 319,458 16.920 336.378 Anolysed befvRen Charitabk activities 231.934 240.588 319.458 16.920 336,379 Governance costs includes payments to the Independent examlners of £3.45012024'. auditors- £7,150} for independent examinalion ond a¢￿UnIS ¢ompilatron f99$. N•t mov•m•n¢ In fund$ 2025 2024 The net movement in funds is stated after charg¥￿1{CredIting}". Fees payats￿ forthe in¢Jepondent examinalion ofth& charitys finan¢i81 ststèmènts Dow¥dat￿n of rjwngd tanglble fixed assets 3.450 22,657 7.150 23.875 Trustees None of the Trust•es lor any p8rsons ¢onn8¢t8d wth th8ml recewtid any remuneration or banaffits from th• Charitsble Company during the year. Equally thore were no Trusteo oxp8nses irKurred In th& Y￿r. 10 Employ••s Th8 ovgrag9 monthly numbsr of employe8¥ during the ye8rwas: 2025 Nvmb•r 2024 Number 15- INVISIBLE FLOCK CO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Employe•s ICOntlnu￿> Ernploym•nt costs 21125 2024 Wages and salaries Social security costs Othèr pèrtS￿n etssts 185.248 15.508 7.627 226,208 19.130 9.400 208,383 254.738 Thare warè no ampl0￿5 whosè annual remunèrathjn was more than £60.000. R•mun•ration of key manag•m•nt p•r•onn•l Thè remunaralion of kéy managern•nt personnél was 05 fd1¢W￿.. 2025 2024 Aggregate ¢omp9nsab'on 179,595 171,781 11 Taxallon Thé charfty 1$ èxèmpt frorn taxal¢Jn on tts aCt￿lUeS b￿Lts0 all Ms Incom# Is apPl￿d for chadtable purpose& 12 Tanglbl• flx•d a88•ts Pl•rt and FSxlur88 and •4ulpm•rrt ffttino• T•thnlul Totsl Co¥t Al 1 April 2024 Additions 21.526 21,908 204,031 15,785 247,465 15,765 At 31 Ma￿h 202S 21,526 21.908 219,796 263,230 Dfjprnclatlon and Impalnn•nt At 1 Aprll 2024 Depreciatbon charged in the year 13.408 1,218 11.120 1.617 87,648 19.822 112.176 22.657 Al 31 March 2025 14.626 12.737 107.470 134.833 Carying amount At 31 Mareh 2025 6,P(X) 9,171 112,326 128,397 Al 31 March 2024 8.118 10.788 116,383 13S.269 16- INVISIBLE FLOCK CO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 D•btors 2025 2024 Amounts falllng due wlthln on• y•ar. Trade d8btors Other deblors Piepaymants and accrL*d inco 39,947 3,045 10,437 3.106 5,687 45.634 16,SB8 14 Cr•ditor¥: •mounts falling du• wfthln onè ￿ar 2025 2024 Other taxation and social security Trade ttedilors Other ¢roditor8 A¢cw81s and deferyed income 8.947 8.612 1.845 1.144 69,620 8.728 18,282 81.221 15 R•tlr•m•nt b•noflt 8eh•m•s 2025 2024 Dèfin•d eontrlbutlon schemes Charg8 to profft or bss in r•spacl of d•fined eonlribution sch8mes 7.827 9.400 The charftat￿a Company operalas g defined ¢ontrfjbuUon pen$lon 8chem8 for all qualtfying 8mployee8. Tho assets of the schemè 8ro hèld soparataly from those of the Charrtable Company In an independenlty gdminlstered fund. 16 Re6tr1ct•d fund6 The restrlcted fvnds of the chorty comprfse the UneX￿nd•d b8lan¢e8 of don8llons and grants hdd on Iru¥l subject to SP8clflc condluons by donois as to how they may bg Used. At 1 Aprll 2024 Incomlng r•sourc•s R•sourc•s •xp•nd•d Tr•nsf•r¥ At 31 March 2025 Tho Cost of Innovation W•lkom& Hub Award 135,287 294.841 {20.292} {434,544} 114.995 139,703 430,128 139,703 {4S4.8361 114.995 17. INVISIBLE FLOCK CO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 R•8trlcted funds (Continued) Pr•vSous y•ar. At 1 Aprll 2023 Incomlng r•sourc•s R•sourc•s •xp•nd•d Transfèrs At 31 Mar¢h 2024 The Cost of Innovatlon W$llcomo Hub Award R8-Imbursed axpgndliure rg. W•llcom• HLtb Award 159,162 51,570 {23,87S} 1391,2781 (22.0001 135,287 294.841 634,$49 11.384 111,3841 210,732 667,933 {426,5371 122.000) 430.128 R681rf¢led funds noted abov6 relalts to Indi%Adual grant8 and agreements lo dèliver artL8tlc proleds wlth thtt exception of The Cost of Innovation vthlth relates to a grant to purchase capRal Items. 17 Unrnstrlct•d funds The unrestrieted funds of the charty comprlse Ihe unexpended balan￿$ of donations and grants which are not ¥ubigd tQ $Pgcific conditions by don0￿ and grantors a8 to how they may be used. These include designatèd fvnds whlch have bèen sèt aside out of unrè8thded funds by the trustees for specrfbc purpos6s. Inc4)mlng ResOu￿e$ rnBour¢e8 •xpended Transf•r5 At 31 March 2025 2024 Research and Development Fund G&n8ral fijnds 79.486 144.233 79,486 142,560 327,382 1329.0551 223.719 327,382 (329,0551 222.046 Pr•¥lous y•ar. At 1 Aprll 2023 Incomlng r•sour¢es R•sourc•s •xpond•d Transfèrs At 31 March 2024 Re8èar¢h and Development Fund General furKI$ 39,486 132.077 40,t)XI 118.(M)01 79,486 144.233 838,070 1807.914 171.563 838,070 1807.914) 22,LUI 223,719 The Resgar(* and DeveloFfflgnt Fund 15 a fvnd dwgnatsd by the Trustses to supwl fLrture intNwal'on. 18- INVISIBLE FLOCK CO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Anaty#l8 of n•t a8s•ts b•tw••n fund$ Unr•8trietod nd$ 2025 Rutrlct•d funds 2025 Total 2025 At 31 March 2025: Tangible ass8ts Curront 09$8tsllllabllili&sl 13.402 208.643 114.995 128.397 208.843 222,045 114.995 337,040 Unrestrlct lund$ 2024 R•StrI￿•￿ funds 2Q24 Total 2024 At 31 March 2024: Taryible assets c￿r￿n1 8$selsllliabililies) 135.289 294,839 135,289 518.556 223,717 223,717 430,128 653.845 19 Op•rnUng l•as• commltm•nts Less•• At the ￿pOrting 8nd datg Ihg Charilable Company had outstanding commltments for futLKg mlnlmum lease paytnents under ￿0￿cancelIable Okxf8ting lea3e8, which fall due 88 folkjws: 2025 2024 Within one year Bgts¥0gn fyvo and five yg¥rs 20.5 76,875 20.500 97.375 97,375 117,875 20 R•lat•d party transactions Therg werg no dlsd0s8ble related party tran$8c*on$ during th• yoar12024- ￿n0}. 19-