THE MICHAEL MArrHEWS FOUNDATION REPORT AND ACCOUNTS YEAR ENDED 30 APRIL 2022
THE MICHAEL MATTHEW5 FOUNDATION l N L) EX Year ended JO Aprll 2022 Report olthe frust68$ Inéependent 5tr. rtporr Star*menE of flnancw ¥(tIve5 Bilance shèet Noios YJ rh¢ flnan¢ial itst•rn•n
THE MICHAEL MATTHEWS FOUNDATION REPOR T O F TH E TKUSTE ES Year ended 30 Aprll 2022 Thc Trustees present their inndal report and accourts ol the ¢h¥rity for the year ended 30 April 2022. The fiD4ncial 5raremenr5 have been prepared ir. accordance witn the accounung pdicies set out in note l of the fir.anciil sutements and wirh the Accounting and Reporting by Chariiic5'. Stslemenr of Recornmended Prictice applicable to chariiies prep2fing Iheif iCCOun15 in accordance with the Finanei#l Reporting Sta?éird applicable in the UK and Republic of Ire13Trd IFRS 1021 Icffoctivc I january 20191. 5tryrture. ¥ov¢rnance management The Tru5r 15 30 unincorporaL¢d chari¢y. c¢nsiF¥¢¢J un¢kr • Trust Deed dated 8 February 2000 and is a regi5ttrr¢d chariry. Dumber 1079956. The power 19 appoini new Trusrees is vestee in thc cx15ting Trustees Re5POfl5ibi ity for the InduciiDll Df new Trustee, which Involves awareness ol the history and ipproac4 of the charity and in understanding of a Tru5teos duEy, lies Wi h the Trvsiees A new TrusEee would receive cop es ol tho previoLS year's account5. Oblectlves and actlvltle5 The obj¢£ts of ihe Trusi as yven In the Trust Oe¢t4 ar¢ ffor rhe furrherance and pursulnce of Charitsble purposes. The objectives ol rhe charity are mer by makipg charitsbl¢ 8ran%S. The <hariry has 3 focus on pr¢vidins grants rg improve the lives ol £hildr¢n In hi8hty deprived areas. Durin8 rhe y¢ar yants wero mad¢ torallin8 £11,538 12021 £32,884). The Foundarion works In coniuts¢rion With Lyra in Alri¢a (UK <hrity - 11464961 wir4 a brafith bastd in Tanznia Grant 3pplicaiions are reviewed by rhe TrLs:ees grènr5 are made 4r the Trustees. d15credon. Tbe Trust Deed ¢mpoWtrs th¢ Troscets to ltrvesi ai rhcir absolute di5cre:ion. ThE Tru5tee5, havin8 regard to the Public benefit 8JidaDce publishcd by the Charity Commission in accordanco with %¢ction 17 01 the Chariii¢s Acr 2011. considr rhai the purpose and a£uvius of Ihe chariTy sausfy the réquiremenrs for rhe publie bèntfit te51 set out In sec.ion 4 of the same ac(. Achievements and performance ThE Chirity'5 opofiiing Co5 ror.tinu¢ tg b¢ mel by rr¢mbers of rhe Marrhews lamily and the sertltment of rhoso CQ5t5 on rht Chariry s behalf have been rrÈ¥red #s 'oiher donations (see rote 2. page 91 in the icccunts As a rt5ulc. l 00% cl tho donations lexcluding the ilorem¢nEToned 'oth¢r doTration$'l fap b¢ used 10 d¢liv¢r benefir 10 th05e whom the Charity supporys. Grants etsntinue io be made whe¢ ihe Trus¢¢es IE¢I thii rht studenrs will experien<e life Iransforming benefit5 Of educ•tion In Tanzania. in coniunction vlith Lyra in Africa - a UK regisiered Iharity. During 2022 Th¢ MicFael Marrhtws Foundation I'MMFI attiyitiès lo£used on I I Phasé two of the youth eDrr¢pr¢neurship progrim £alled"Bu5iness boost" and 21 sponsoring marginalised and disaévantsged gir15 to ziye th¢m accE55 19 Iiye In hostels. A deci5ioD wa5 Laken by the Trustees io postpone the insL)Ilation ol a computer lab iThr¢ 2023. The MMF Inve5trnent in :he build oi fjve h05tels In rural TanL)niJ continues to have in Imp•¢t gn rur41 girls. wich over 500 gir15 Ilving and thrNing In Ihe MMF hostels Ihroughov¢ 2022. The clas$"ooms and ceacher roorns built in primary sch¢o1s continve to promote well be'ne and a better environment f¢r learnini. Phase two of thÈ youth entrepreneurship program: Buslness 8oost Building OD Lyra S successful IArika Kijana IIKI program. funding Irom MMF fotu%ed on taking ih15 )rograrn to Phase two. The focus of IK Phase two IS to take recentty graduated entrepreneurs rom Lyra's IK progrim Eo engage In 3 1 year 'Business boost" course 10 locus on growing thÈir businossts. Te )rcioct IntludÈs montO*jng. wriiing business pl¥ns. digital fraining and acce55 to capital. li order to grow viable buSine5ses that drive local employmeit & wealih crearion.
THE MICHAEL MAThHEWS FOUNDATION R E PO R T O F T H E T R U S T E E S Ico ntl Year ended 30 April 2022 During 2022. in1r1 empha51s was ?Li<ed on ideDtfyiDg the receTrt grJduat¢d enrrepren¢uTS who hid viible busine55e5 and a55e55in8 wheiher Lheir busi?e55 had the po:ential to grow. A total of 255 1169 fetnale and 86 m3lel enrreprenevrs were idenrrfied T-'.c locus of hesc Tricrobu5ine5ses iyclude poulrry producrion. small shops ind 05ks, beekeeping, piggery ind farming. Te MMF (raining focu5es OTh value thxin analysis, scaling individu31 and group businesses. markElin8 and digial sk,115. With exp05Jre trips aligned to parlicipanls. bu5ineS5ES Ipoulrry. farming, beekeep.ng etcl and menwring. The Business boosr course Wi,1 lasi Into Q3 1023. Girls Sponsorship MMF coir'nues to Sponsor margiTr31ised aryd d1s3tfvanr3ged gir15 Irom ultra-poor backzround5 10 cijprinue their 5eccThdtry tdutation. ln 2022 90 girl% wcro sponsored Sponsoripg ukra-ptsor ruril Ri..Is is one of most critical layer5 of the Lyra poriloliD as Ir p0¥ideS Ihe Iifoline Ihai Is needed ¢0 keep tht mosr disad¥antagod girls In education. E3<h year we crnck ihese girls who have been 5pon50red ard wc see Ihe IrJnslormiLional impact Qn ¢hoir Iivcs that the aci of spon%grsiip has. These lrfe chapging case studies will be shared wilh MMF through the full 3DThual report Impa<t of MMF hI5torical investments Con5tructlon.. MMF have previous.'y unded rht build ol five girls. hostels In government setondary schools, as well J$ 14 c135srooms and 6 :tach¢rs hoJses and roorns in Ihroc rural prirnary Schools. This Invstni¢iiT ir building I•S& hosLL.15 from 2013 . 2019 conliTrueS fts Impact POSiriYe y rural girls chance5 01 rompleriThg Iheir oduc3tion. Annually, over SOO rural girls slay Jn lh¢ MMF hostels ei<h yoar. provjeing them w.th a 53fe pla<¢ ro li¥¢ and stiidy. Demand for p13ce5 In the MMF lundd .9¢t15 continues to be higher (han Lhe occupan<y capdciry. To dace. no tcenagt pregDanci¢s have becn reported tt rhese 4osrels. Hosrel name and date Capaclty of hostel and current occupancy Capacity 144. Current Occupancy 141 Lundamatwe hostél I Ibbilr 20131 iryd Luhdamaiwo Nyang'oro Girls H05Eel buil: in 2017 and h•rded ¢v¢r to.ho conmunity In 2018 C2PICity lor 80 yrls. curreTri oecupan¢y 136 Lulanzl Girls Hos¢el built in 2016 and handed over to the ¢ommunity In 2019 Capacity for 72 yrls. ctsrreDt OCCUP3ncy 145 Illambllole Girls Hostel EoJil( in 2019 and handed over In 2020 Capaciy for 96 8IAs. current oecupan<y 136 We tonrinue to track the impacr of rhe hoslS on 11 pregnancy ratos 215econdary c¢mpleLi¥n rates as well is critically 31 exaffl performance.
THE MICHAEL MATTHEWS FOVNDATIQN Year ÈfTrded 30 Aprll 2022 FInancI revlew The Trustee5 apprcvEd cha-itable expendlture kn the pernd of £ 13.705 12021 U4 4581 and 8enÈrated a Dec surplus fo. ".he perlod of L15.605 12021 defc.'t of 11,7611. afte. al owlpg for dorations and inwesLwen: Income. At the yoir ord cho cha.fty old net assors ol li29,899 12021 £514.2941. The re58rves of the chidty £onslsE of unpeyrrlcred funds of £S29.899 12021 1514.2941. The Trusree5 rein a SLffl£leYE lavel of free r25orvos ctsver any exp¢ndSEure which may become necessary tid w K've tre eh¥i7 flexlbiliry In £ar"ying out ts obFcrJYEs. Ref•renee and admlnlstratlve detslls Regl$thred Ch¥ity number. 1079956 Trustee% who ITh tho year wtrt.. I S Matthew$ S G Matt¢WI A Kllkenny OBÉ Pdnclpal offi¢•'. 6 O•rbySTh•t Lorydo WII7AD k•rs'. HSBC 8ahk pl¢ 69 Paji Ma.1 LonLJn. SWIY SEY lThd¢pendeni ¢x¥nhtr'. SdDnne Rojc ACA CTA DIxt)n W4son 22 Charcory iJn• Lond¢n WC2A ILS Appr¢ved by ¢h¢ Trvstées tsn FrkrMAr Ig4 1¢ L4 d s18Thed on the r behatr. /44th1,L I S MATTHEWS Trustee
THE MICHAÉL MArrHEWS FOUNDATION l N J E P E N D E N T E X AMI N ER S Year ended 30 April 2022 INDEPENDENT EXAMINERS. REPORT TO THE TRUSTEES OF THE MICHAEL MATTHEWS FOUNDATION I repory co the Trusrees on my examlnarlon of the ¥ccoLnrs of the Trusr for the yeir ended 30 A?rll 2022. Rsponilbilltles and ba515 of rport As th• chadty Trusreei ol the Trusr you 2 responsi)le for tht pre¥raTlon of the iccoanu in accor¢4rycB wlth the r¢qUrMents Jf the Charlties Ac- 2011 1.:ts Acr'l. You a..¢ s4tirfied thar an audlt Is nor requlred l¢r th1$ year nder ch2riLy &Dd thal an Independeni exaEr nation is DeeLed. I roport In respeer of 1)y examination of the TrJ$t's iccoJnr5 carr ed our Lnder 5e¢rlon 145 of the 2011 Acc anol I cirrylng out my ¢xxmiraJcn I have followed ill the app Cable Direcon$ given by te Charity Comrnission under secdon 14515llbl ol ¢ie ACL An indepondenr enrninadon does no¥ Invofv¢ Kath•rlmg ¥1 the ovldence that wou d be requlred l aD iudli and onsequcndy does not cover all th Mae1 than auditor consider5.'n 811% opSnion on 'bq accounrs. The plannlng and <ondu¢t of an audl-. 8OC5 byone thll lirnitcd 3SSLraDce that arn Indcp¢ndenE t¥aminidon can prwide, ConsequenLly. l expre55 no sp nloi as ro wh•tier the icccbrrs preset)r a 'truo and fa'r. vlew and my riporr Is Indep¢ndent examlner's ita¢em¢n¢ l am qJallf ed Eo urderuke the exèrnlnauon by Ing a qJalffied m•mxr of th• Instlw:e Chartered Accounrants In England and Wales. I have ¢owlEted my oxamlntltrty. I tanflm no mareriai ratter5 have c(Knt E¢ my 4rt¢ntyon In conn0Gon with the examliauon glylng mo cause to b¢ ieve ihat i any macerial respecL a<<ount5ng r•¢ords wtre r.or kept ITr r¢spec: ol Eh TrusE re$ir•C tsy sectlgr. 130 of the +y 2. the accounts do not ¥teord thDSe records". cr 3. the acccunEs do nD¢ coTrply wit. the applicable requirwnenrs eonc•rning th• l•rm aDd conthnt è. accourtfts sèt In rhe Ch3riti¢s (Accoknnts keporrsl Reguladon$ 2008 other thar any requlremenl thit acc¢)unt% givè a 'cruè fllr v ew. which Is pot a matrtr tQnSidÈ.. d a par¢ pf an idependent exarnlqidon (he a¢counrs hav• noi be¢n prepared Ip acctsrdaTr=o wth Lhe methods an4 prlnclples of Ele Sra¢emep- of Roctstymerded Pranc¢ for accouniing and reporrig by thantlos applicxb e ic charitlES preparlng thelr accouits In accordance th the Flnan£ial Keporting Sraidard applica?le Ir che LIK and Repdblic of Ireland IFRS 1021 I have no con¢Èm$ ind ha com¢ across no natters In connecuon vrith tho exarFilrxtyon to c4 attefidon Should driwn In thm rep¢xr In order to •nthle é proper un¢er5tandir8 0¢ the a¢to-nJ tts be reiched E ACA CTA Dixor Vvilson 22 Chancery Lane London WC2A I LS 28 F8bruary 2023
THE MICHAEL MATTHEWS FOUNDATION ST A T E N E N T OF F I N ANC I AL A C TIV ITI ES Year •nded 30 Aprll 2022 Not05 UAreytAtt*d Fund 2022 Unre5tActed Fund 2021 IoMe and •ndow7nents from: Donatiors and legacles Investmegr Irleom 2&112 568 32,589 Totsl Incom¢ and endowments 28,680 32,697 expendlture on: Chirlrablo It¥.0$ 13.075 34,45$ To¢al Èxpenditure 13.075 34,458 Net (exwndlture)Ilncom• and net movement 14 funds for th• year 15,605 (1,761) R•con¢llladon of funds Total funds Drought forw¥d Fund balanc• cath•d lonv¥d It 30 Aprll 1021 514,294 516,055 S29.899 514,294 All Incom• aThd expendlture darlve frorn coniinuln8 a£Vvitses.
THE MICHAEL MATTHEWS FOUNDATION ALAN'CE SHEET At 30 Ayll 2022 2021 2021 Curr¢nt asjtts Cash at bank Debrors 530.2 515,733 Ttst curr•nt us•ts 531J39 515734 Uabllltl•¥: Credltors.. Amounts falllns du• wlthln ong y••r 1,4KI (1.40) Net curr•nt aJs•ts 529,899 514294 514.294 Total not ass•ts Th• funds ol th• ¢harlty. UDf•5rrfctéd funth 529,899 514,294 Total ¢hthty fundi 529m9 514.294 Tha flnandal 5rdmen sot out on p4es 6 1¢ 10 w•r• ¥Jrov¢d by lh• Tru5u•J op FebY4+4Y 2023 ind wtre on th•lr b•half br. zIZ-. L3 I S MAThEWS
THE MICHAEL MATTHEWS FOUNDATION NOTES TO THE FINANCIAL ST A TEM EN'T5 Year ended 30 Aprll 2021 Accountlns Pollcle5 (4) 8aJl$ olpreparatlon aDd asse55ment ofBoID8 Th? financlal it3temtnrs have been p"ep3red In Kcord3n£e with A¢¢ounikn8 and lepOrrg by C4arides'. Statement of Recommended Practyce aJplicable to charr(les pr&7ar'ng their accoJnrs In arcsrdance wbth tfr.e F Re?ordng 5un,dard applicable In tho UK aid ReoJb k 44 Irdond {FRS 1¢21 leffecri¥e I bnuary 20191- Ichariues SORP IFRS lolll. rhe Flnanclal Re>orng SnI&.d 3WIGitr£e In tye JK and Rewblk of Irdand IFRS 1021. the Cornpanlu Acr 2006 and the Charioe5 Ac¢ 201 l. The fir&idal srtments are deTrominated Ir srling 3rd roJnded to the neve5r £. The T"U5¥ con5¢1tutés a pub Ic benefit enti? defined oy FR5 102. Assets ind I'11¢$ arE init3Jly recognlsed at hMEorlcal c05E or trknsBttSon dlLt unkn othcrwlse srared In rolenncaccounring pollcy nore. The Trwttes conslder that ihEre Ire no matethl unt•rwn1S about th• Trust's kni lty to coidrtuo as a golng c¢•rn. (b) Fund accoundn8 poll The charl7 coryri5es of z sir& Unresrted fund. Ithwtri¢ted fvnd5 grt 82nera.' fund5 thar are aya labl¢ l¢r use ir th• Trus:e•i' dlscrE(Ion In lurth•rarKe ol th obloc¥t$ cl the th•rfty. (c) Inri)mln% rnsourc•s DonathS arq reEognisqd +e Trusc has •ntitknm¢Tht to the lcom& there 1% reasonable a$suThnc• of r•cgipt and the Bmoiint of tncorne can be measureG rgl1ar. Inv•srmtrtt Incoro Is s¢at8d n tho accounts a5 the mount roc•ivatylo. All donauoni recel¥¢d wder the Gmt Ald stherTrp are used for thir1Ea• purposw iThd net to coYeT •xpens•s of the eharlty. (d) R¢sour¢•s expended Lhblllr1 are reco8nised % scth ax there Is • or con%t"LCtlve obl Aadop cornm.LnE the Truit to tle gxppnelwro. It Is probable tha= 5ei1len.nt wlll bo requlred and cl• inOLthE of the ob! galon ¢w bo measured reliably. Donacians payablt art re<ogn'5ed W- thore s a c0mryltrnl or when dItI5 aLurh•d Commitments Ire fuKilled. All exoepdiiuro15 a¢Cl%nitI for on an iccnnls Jas. (e) For¢l8h ¢urrtstr)cy Alieu and 11ablllO8 Ir favel turren¢iS ire tynslated Into stedirg ratel of exchange ruling ar the balance shoeL dale. Tr)sacdons ln forolgn currencles are translat into $terllry at the *verè8e rate.
THE MICHAEL MATTHEWS FOUNDATION NOTES TO THE FI NANCIAL ST A TEMENTS Year endéd JO Aprll 2022 Incom• Irom don4tion$ and le£acl•s Dvnatlon5 and leiacies 2022 2021 DoiiatlDnS untdo. th• Glfc Ald stttome Other donat5 26.672 1.440 31.149 1,440 28.1,2 All donatlon5 Iro unresrrfcted. Invtstmént Income InL8"est receivable frorr. U'C depo51C account 568 108 Analys15 of trI¢#ble Èxpenthture Th thartty w¢crt/kos its charltable attiviii rhroutr. srJnt and awards grn ¢0 InS)JloOs In fur[heraC of Its charitabl• obj•£dv•5. Grnnt fundtd IC¥0ty Support costs Total 2022 Total 2021 Edu¢arl¢n 13,075 34,458 Total 11.538 13,075 34.458 Analysis of support Cosrs 2022 2021 Goveryince costs 84nk Charge 1,449 134 97 1,537 1,574 Governance cost5 Independent exarninarlon fe5 1,449 Redplentg of Instltutional grants Lyra In A]¢ 32,884 32.8S4
THE MICHAEL MATTHEWS FOUNDATION NOTES TO THE FI NANCIAL S-A TEMENTS Year etided JO Aprll 2012 Dèbtors 2012 2021 A¢rrued ee?oslt InrerE5r Accrued gift Id- wpsltt donadons 44 1,086 Current Ilabllltie Indepencent mina¥0n 1,440 1,440 1,440 1.440 Trustees, r¢Mtsneratlon N¢ rrustets reclv•d Jny rtrnuneraDon or rÈlmbursemen¢ of exponst$12021- No•e). Employt41 The Trust dl¢J not P.ve *ny employ•es durlng tho ytar12021- None). Related party transadons Durlng ¢he year. Ihe aMat of dDVatiDns r•¢th¢d wthoui r•stricdofis from r•lared parL1e5 totslled £3,546 12021 £26.3871. Durlns th¢ year £1.44012021 £1.440I ol expénses were pld on beh1 ol rtre Foundadon by rèldt¢d part-es. 10