THE MICHAEL MATTHEWS FOUNDATION REPORT AND ACCOUNTS YEAR ENDED 30 APRIL 2021 THE MICHAEL MATTHEWS FOUNDATION I NDEX Year ended 30 Aprll 2011 P•ze Report of the Trv5tees Independent examiners, report Stttement of finandal a￿VI￿e$ shert Note¥ ro the fln3nEl¥l statements THE MICHAEL MArrHEWS FOUNDATION REPOR T OF THE TRUSTEES Year ended 30 April 2021 The Trustees present thelr annu81 report and accounts ol the charity for the year ended 30 April 2021. The financial Statements have been prepared in accoréanre with the aetountlng policies set out in note l of the ffinancial 5catements and wSth the Atcounung and Rep¥rclng by Cha￿[les.. Statemenr of Recommended Practyce 8ppllcable to harities preparing thpir Kcounts In ￿COrdance wlth the FinanElal Reportlng Standard AppSl£able In the UK and Republic tsl Ireland IFRS 1021 {effecuve I january 20191. StNcturep governance and management The Trust 1$ an unln¢orporated Charlry. ¢¢nstrutted uDder a Trust Deed dated 8 February 2(￿) and 1$ a re2fjstered Eharlty. number 1079956. The power to appoint new Trustees is Yested in the exlstlng Trustees. ResponsibllSty lor the InduC￿On of any new Truste& which involves awarene$s of the hi$tory and approach of the eharlry and an undersrandlng of a Tru5tee5 (hjty, lies with the Truste¢%. A new Trv$tee would receive C¢¥ies of the previous ytsr's accounts. Objectlves and actlvltles The objetts of the Trust a5 given in the Trust Deed are for the furtherance and pursuance of charitable purposes. The oblecdve5 of the charity are met by making charitable grants. The charity has a focus on PrO￿dIng grnnts to improve the live5 of children in highly deprived are￿. During the year grants were made toolling £32.884 (2020- £40,C4)41. The Foundation woAmiing beneftts of education In Tanzani& In conjunction w￿h Lyra In Afrlu- a UK reglstered chatity. The completlon and handover to che local community of the Mi¢h2el Matrhews Foundation's ￿m￿S) slxth ecg- friendly girls ho$￿1 at the governrnent ￿wned Ilambilole Secondary School. in Iringa region, took place In February 2021. The hostel fom)alty has space for 96 &rls buc accommodated 132 w'rls at year-end. The dernand for MMP5 hostels shows the need for safe student Spaces for gir15.' at ye*r*nd 2021. MMF hostels accommodated 517 girls vs 382 bed spaces. During 2021 the MMF board took the strategk dectslon to redirect the focu5 away from building Orls ho$￿1$ to focus on digital learning In rural, governmentthowned secondary Schools in Tanzania. The secondary schools MMF chooses as partners Ile In rural. marglnllsÈd communltles. The primary reason for introducing schools In¢rmal wlthout elecrri¢ity and internetl to offline cornputer labs is the multipller imp2tt dl&t21 learnlng and computer sclences have on the tot4iw of $¢hool pupils and on the potentlal to lift rural communlties and schgols iTrrv 21 C ski115 and knowledge. For the chosen schoo15, a computer lab will mean both teachers and $tudent$ w(11 have first time access and traiThing to computer labs and ICT. Thls content not only rrnnsforrn5 s¢udent5 frorn rote4eaming to 5eW.dlretted studies but is also reduclng faSlure rates In partner schools. THE MICHAEL MATTHEWS FOUNDATION Year ended 30 April 2021 Emph3515 been puc on res¥4rching the currendy best adapted computer equipment and instal￿￿0￿ for the harsh envlronment the hardware needs to endure. Similarly, the best options for the latest available 501ar technology and the rise in potentlal costs invofved for fulty solar powered computer lab5 have been explored rigorously. For the longevity ol the lab. we know It Is Impera￿Ve to choose the best adapted equbprnent Ythich wa5 completed In DeEember. The'next generatlon" MMF computer lab5 will thereforE feature a low ener￿, slmple'thin clients" ne￿rk with a se￿er. The first solar powered computer lab Is planned for Insiallation in April 2022 in LUndama￿e School. Kilolo district. The MMF computer paclwe encompasses a package 0120 '*hSn cllent" compufers Ilnked to a unlversal offline 5erYer that has i wide sele￿I￿n of educational tools. An In¢roduttory tralning package lor teacher5 and 51udents15 Included In the package a5 well a5 on-going after-school ICT and codlng clubs for two year$. We estimate a sohr powered cornputer lab to last 10 years. transfom)Ing the education and Itves of apprcx. 600 pupils annualty. MMF continues to sponsor marynalised and dlsadvwtsged Orls from ultrn-potsr backgrounds ro Con￿nUe thelr secondary sNdies. In 202186 girls were sponsored, with a majority of them performing better in their national exams than thelr peer group. It Is parricUlar￿ h￿rt warn)Ing to See these glrls thrfye In thelr new envlronmenL Financial review The Trustees approved charitable expenditure in che period of £34.458 12020 - 141,578) and generated a net deficlt for the perlod of £1,761 (2020- surplu5 of 163,4ni, after allowlng for donatlons and InYe5tment income. At the year end the charity held net a55ets of £514,29412020_ £516,0551- The reserves of the charity consist of unrestAtted funds of £514.29412020 - £516,055I. The Trustee5 retaln a suffitlent level of free re5eryes to cover any expendilure which rnay become necessary and to gNe the charity llexibillty In earrylng out its objettives. Reference and admlnlstrntlv¢ d¢tall$ Re815terEd Charity nurnber.. 1079956 Trustees who seThed In the year were.. J S Matthews S G Matthews A Kllkenny OBE Principal offite.. 6 Derby Street Londc*n WII 7AD 8ankers'. HSBC Bank plc 69 P211 Mall London, SWIY SEY Indtpendent examiner.. Suzanne Rose ACA CTA Dixon WI￿On 22 Chancery Lane London WC2A ILS Approved by fhe Trustees on and signed on their beha￿. I S MATTHEWS Trus¢ee THE MICHAEL MArrHEWS FOUNDATION I N D EPE N DENT EXAM I N ERS REPOR T Yeay ended 30 April 2021 INDEPENDENT EXAMINERS. REPORT TQ THE TRUSTEES OF THE MICHAEL MATTHEWS FOUNDATION I report to the Trustees on my examination of the accounts of the TrusE lor the year ended 30 April 2021. R•$ponslbllltles ond basS5 of report As the charity Trustees of the Trust you are re5ponslble for the preparntlon ot the accounts In accordance wtth the requirements of the Charities Act 2011 I'the Act'l. You are 5a¢i5fied that an aud1¢ Is not requlred (or this year under charity law and that an independent examinaroon Is needed. I report in respect of my examSnatitsn of the Trusr's accounts carried out under Sec￿on 145 of the 2011 Act and in arrylng guc my eXamIna￿on I have followed all the applicable Direcllon5 by the Charity Ctsmmi$$iL)n under section 14515}Ibl of the Act. An independent examlnadon doe$ not Involve Dtherfng all the evldence that would be requlred In an audlt and con$equentFy doe$ not cover all the matters than an auditor consider5 in thelr oplnlon on the accounts. The plannlng and Conducr of an èudlt goes beyond the limited assurance that an independeni examlnaiion c2n provide. Consequencty. l expre55 Tho opinlon as to whether the 2ccounts present a 'true and fwrf view and rny reporr Is limited to those spetlfi¢ marrers set out in the independent examiner's scatemenL Independent examIne￿$ 5tatem•nt l am qualthed to undertake the examlnarlon by belng a quallfied member of the Instltute of Chartered A¢¢oufiranrs In En8land and W￿e5. I have c¢)mpleted my examlnatlon. I confirm ihat no rnaterfal matters have corne to my attention in Eonnettlon wlth the examinatlon glvlng me cause tp belleve thai In any ￿l￿rIal respec¢ 2ccountlng records were not kept in respect of the Ttwst 25 requlred by settlon 130 of the ACL or 2. the accounts do not accord chose records: or 3. the accounts do not cornply the appliCa￿e requlrements concernlng the form ind contenc of a¢¢¢unts set out in the chan￿e5 (Accounts and Reports) Regulations 2008 other than any requirernent thai the accounts give a 'true and fair view. which Is noi a matter considered as part of an Independent examlnadon. the ￿t0￿￿t$ have not been prepared in acEordance wch the methods and pr5nclple5 of the Sratemenr of Recommended Prattlce for accounting and reporrlng by charltles applicable to charities preparing their counts In atcordanee ￿￿th the Flnancial Reporting Standard 2ppllcable in the UK and Republlt of Ireland IFRS 1021. I have no concems and have come across no mitters In connection with the ex3mlnatlon to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. S ROSE ACA CTA Db(on Wllson 22 Chan¢¢ry Lane London WC2A I LS 2022 28 Fobruary THE MICHAEL MATTHEWS FOUNDATION ST A TEM ENT OF F I NAN C IAL ACT IVI ri ES Year ended 30 April 2021 Note$ Unrestrltted Unrestrlcted Fund Fund 2021 2020 Income and endowments from: Donaebns and legacie5 Investsnent income 31589 102,527 2523 Total Incorne and endowments 31697 105,050 Expenditure on: Charkable actIvI￿e$ 34.458 41.578 Total expendSture 34.458 41,578 Net (expEnditur•)fincome and net movement In funds for the yeay 63,472 Reconclllatlon of fund5 Totsl fun(ts broutht f¢rward Fund balance carrfed forward at 30 Aprll 2021 51&055 45Z583 S14.294 51&055 All Income and expendi¢ure derlve frvm coTh¢Snving actiwties. THE MICHAEL MATTHEWS FOUNDATION BALANCE SHEET At 30 ApTr412021 Note 2021 ioio Currert assets Cash &t bank Debtors 515.733 517.483 12 T4)tsl cuvr•nt asmts 515,734 517,495 LSabllltSes: Credltors.. Am¢yJnts falllng due *￿thIn one year (1,4401 514.294 (1,440) Net current assets 51&055 Total net assets 514,294 516.055 The funds of the chvlty. Unrestrlcted funds 514,294 51&055 Total charty funds 514,294 514Q55 The financlal sutements set our ¢n page$ 5 co 9 were approved by the Trustees on and were signEd on their behalf by. 28 February 2022 I S MArrHEWS Trusree TrIE MICHAEL MATTHEWS FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Year ended 30 April 2021 A¢¢ountlng Poll¢l {a) Basis of preparatlon and a5Je55mert of going concern The financial sr2tements have been prepared in accordance with Accounting and Reporting by Charftles.. Statement of Recommended Prnctyce appllcable 10 chthde5 preparing thelr accounts in accordance with the F5nanCi￿ Report(ng Standard applicable the UK 2nd Republic of Ireland IFRS 1021 (Effethve I17nu¥y 20191- (Charftle5 SORP {FRS 10211, the Fin3ncnl Reportin8 Stsndard yplicable in the UK and Republlc of Ireland IFK5 102). the Companies Att 2CQ6 and the Ch2rstses A¢r 201 l. The Ilnancial staternenrs are denominated in Sterling and rounded co the nearest l. The Trust constltufes a publir benefit entity a5 deftned by FRS 102, A55ets and liabilities are Initialty rec*wW at hlstorical c05t or transaction value unless otheMse s¢aTrd in the relevant accounting pollcy note. The Trustees consldÈr that there are no rnateri￿ uncertainties about the Trust's abiliw to continue as a going oncern. (b) Fund a¢countlng polky The ¢hariy comprlses of a slngle unrestrlcted lund Unrestricted fund5 are general funds that are avasfaNe for use at the TNtStee5' discretlon In lunherance of the obledves of the chatity. (r) Incoming resources DOna￿On$ are recognlsed when the Trust h3s entitlement to the kntome. there 15 rea5c￿%bI¢ assuranEE of recelpt and the amount of iThC+>ne can be measured reliably. Inve$tment Sncome stated In the accounts a5 the amount recelvablt. All donations recelved under the Grfr Aid Scheme are used for chan￿bIt purposes and not w ¢wer expenses of the char￿. (d) Resources expended Liabilltles are reco2nised as so¢n a5 thEre 15 a legal or constrUc￿ve obliption comrnitting the TnJst to the expendlture, it 15 probablE that 5eitlement YAII be requlred and the amount ot the obllgauon can be measured reliably. Donation5 payable are recogni5ed when there Is a commitment or when condr(ions attached wrnmiThents are fiJlfilled. All eypenditure is attounted on an accruals basis. (e) Foreip currency Assets and liabiittles In foreign currencle5 are translated Into sterllng rdte5 of exchange rullng at the balance sheet dace. Transactions in loreltn currencies are translated In￿ sterling ac the average r•r* THE MICHAEL MAThHEWS FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Yew ended 30 April 2021 In¢a)me from don*tlons and legatles Donatlonj and legacles 2021 2020 Donations under the Gift Ajd scheme Other donations 31,149 1.440 101.087 31589 102.527 All donarlons are unresrrfcred. lThvestme•rt income Interest receNable from UK deposlt aEEount 108 2523 Analysis of chavltable expendlture The charity undertakes its charthle act1￿￿e5 throuzh grant making and awards grants to institutions in bjrtherance of ts charltable Objec￿Ve$. Gr4nt funded actlvity Support costs Total 2021 2021 Educauon 31884 1.574 34.458 41.578 Totsl 32.884 1.574 34,458 41.578 Anaty515 of$upport costs 2021 2020 Governance costs Bank charges 134 134 1,574 1.574 Govevhance costs Independent examlnatlon feBS 1.440 R*clplents of Institutlonal grants: Lyra in Africa 32,884 32,884 40.004 THE MICHAEL MATTHEWS FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Year ended 30 April 2021 Oebtors 2021 2020 A¢¢rued depo$l¢ Inceres 12 Curvent Ilabillties Independent examinatltjn fee 1,440 1.440 1,440 Tru5tee5 remuneratlon No trustees received any remuneratIc￿ or reimbursemen¢ of expen$e$12020- None). Employees The Trurt dld not have any employees durlng (he year f1020- Ntsnel- Related party transactlons During thè year. the amount of donatlons recwved without resrAction5 from relaced partle5 toralled É20.07212020 - £21.0931- Durlng the year £1,44012020- £1,440) of e¥pen5e5 were paid on behaw of the Foundatlon by related parties.