THE MICHAEL MArrHEWS FOUNDATION REPORT AND ACCOUNTS YEAR ENDED 30 APRIL 2023 THE MICHAEL MATTHEWS FOUNDATION INDEX Year ended 30 ￿￿12015 Report ofthe Tnjstees In¢kpon(knt éxwnlnerf report Sfatement of fin3nchl athkle$ •ne• theet Notesto the flrwKW stat¢m¢nts THE MICHAEL MArrHEWS FOUNDATION EPOR T OF THE TRUSTEES Year •nd•d 30 Aprll 2023 The Trustee$ presen¢ thelr anTrual report and accoun¢s of the charfty for the year ended 30 4vril 2023. The finanoal statements have been prepared In attordante with the accounting pgllde5 ser out In note l of the fiTrana statement5 and the Accounting and Reportlng by Charltles: Statement of Recommended Pracdce appll¢able to charities preparing their accounts in xcordance with the Fjnancial Rworting Stsndard appllcable in the UK and Republic of Ireknd (FRS 1021 leffectye l January 2019). Strurturei govornance and managemert The TNst Is an un1n￿rp¢*rat¢d tharity. ¢onstnJEttd und•r a Trust Deed thtsd 8 February 2000 and b a reg15¢ered charity, number 107995& The P¢)wer to appoint new Tru5tee5 ￿ ve5¢¢d in the ex￿tIng TrusLees. Responslblly for the induction of any new Trus¢ee. vthich Invofves awareness of the hSstory and approa¢h of the and an undersraThding of a Tnjstees duty. Ile5 Tr•Ath the Trustee5. A new Tru5¢ee would rKeiYe coples of the prevlous yearfs accounts. Objectives and actlvkl•s The objects of the Trust as ￿Ven In the Trust Deed are for tht furthtran¢¢ and pur5uwKe of charthle purpose& The ob*¢tives of the charity are met by mthng charftsble 8rants. The tharity ha% a focus on Pro￿dIng grnnts to improve the lives of children In h*htry deprived area& During the year rdnts were made totallin8 £116250 P022- £11,538). The Foundatlon works Sn Conlunctlon ￿ Lyrd in AfrlEa (UK ch¥rity- 1146496) w*h a branch based In Tanzani Gmt applications are reviewed by the Trustees and gra[￿ ar• madé at the T￿slee$, dI5¢￿10n. The Trurt Deed ernpowers the TnJstee5 to i￿eSt at their absolute discretion. The Trust￿. havlng rerdrd to the Public benefitguldance publlshed by the Chatity Comm￿s1On In ￿COrdance seccion 17 of the Charr£ies A¢¢ 2011. conslder that the purp)se and attiTrites of the charity satisfy the requirements for the publlc benefft tes¢ srf ¢)u¢ In se¢¢ion 4 of thE 5arr* a A¢hlevements and performance The CPAdty's ¢Jperating costs continue to be met by members of the Matthews famlly and the 5etdBment of thpse psts pn the ChariWs beha￿ have been treated a5 '0ther donations, (see note 2, pw 9} in the account& As a resulL IfJ)% of the donation$ Iwluding the aforementloned 'other donations,) can be used to ddiver benefrt to those whom the Charty supports. Grants eontinuE to be rnad8 where the Trustees feel that the swdent5 will experfence Ilfe transformin¥ beneffts of eduration In Tanzani4 in conjunctbn wkh Lyra in Africa- a UK regl$tered charlty. Thr￿1 the contlnued support from the Mlchael Matthews Fwndatlon (MMF), Lyra In hfjrka implemented three pr0￿mmatIC areas In Tan2anla duringthe 2023 ffinan¢ll year. Spon50ring 90 ultra poor ru￿ wr1$ to contlnue with thelr secondary educatlon lrnplemendng the youth entrepreneurshlp FYo8fdTrk Boostlng Youth Buslnes5es to S¢ale in rural Tanzan Impltrnentingthe first sdar powered Computer Trab at LUTra￿ Seconthry School. revolutionising th? ablllty of students to study Boortlng youth bu%lnos*ès to Kale In rural Tanzanla In Collaboratic￿ with MMF, Lyrd has bBen able to upgrade and deepen the youth entrepreneurship pr0￿M "IrTharika Kijana" in 2023 that $ttrted as a MMF pilot in 2018. The core of Lyt2's entyreneur5hp pro8ram 15 to "avr4keTh" rurnl youth to see opportun0￿e5 In theirlgcal communitsu, and to come up wlth bU￿#t$S ideas through bpot-5trapp5n¥ so that even those ￿￿thout apl¢al can bulld sutcessfvl bu55ne5ses from sctitch. This Buskne$s Boort program took recendy ￿adUated ents*preneurs from the pFMse I proTdm, and Inletted fUrthert￿l¢red supp¢)rt THE MICHAEL MATTHEWS FOUNDATION R EPOR T OF TH E TRUSTEES (cont) Year ended 30 Aprll 2023 with the of gro￿ng their micrfrbu5ine5se5 into sustainable and Cornme￿1￿￿ v13ble bU￿n￿Se5. a resuk of thi5 Qne-year program. the followlng results have been Khleved 24S youth entreprenwrn recelved at least ts¥o comprehen$lve ￿lInesS Boost tr￿nIng￿. As a resu￿ of thL8 prohe¢¢ improved buslne55 5ki115 across the group of yputh entrepreneur5 far surpa5s¢d the 40% target 209 of the youth entrepreneurs were pwred vrith a lod business mentor. surpa55ing the target 15 of the most prom15ing entrepreneurs were chosen to tske part In ad¢Jtlonal trnining 5e55ions at a 3- Boo¢ Camp. to further ini¢rt supportto their businesses. 245 youth entr¢P￿neUrl r￿￿Ved ¢￿PrehenSIVe ￿l￿t￿ media trwning fJcilitated by t)¥itst Opportunity Trust Tan7anla IDOT) to build t dI￿tal presence for thelr buslness. 92% of the busineues reported an increase in their monthty income. Girls Sponsovshlp MMF continues to spon50r marginali5ed and disa(fvan12ged &rls from ultra*oor background5 to continve their Secondary education. 90 ukra.poor git45 were sponsored by MMF during 2023. These 90 girls were split icross the Lyn partner schools, Ineluding Nyang'oro, Mlowa, Maz¢mb& Lulanzl. Ilambllole. W, a¢)d Lundamatwe. The selecr(on of these followed the enhanced 5electlon pmcess put In place by Lyra in 2021 en5urin8 Intreased transparency and full invohment of key loc￿ Stakeholders In the 5electlon proce55. By the end 012023, 89 of the mM￿SponsOred rem*ned ifi the hostels. We are de1￿hted that all 89 MMF-5ponsored are now actively engaged in the Lyra-run ICT clubs. They ￿$0 ￿1 took part in the Lyra twn Merbstrual Heath Manwent {MHMI Trrining and Adc4escent Sex￿1 and Reprodurtive Hwdlth ISRH) trrining rolled out in Ottober 2023 to Lyra partn•r schooL%. Follo￿n¥ thq trwning, all MMF- sponsored 8lrls recefved reusable sanltary pth, whlch $￿pOrt thelr health, Wel￿beIn& w*J unlnterrupt¢d education. Three MMF-5pon50red 81rfs from l(wad Ilambilole. and Luknzl P¥tycipated In the MMF Tethday event held in Marth 2023 and were part of the students, teams pitthing their digital innoYdtion5. We continue to see the Impart of MMF spon50rshlp OTr tomplete their lowtr se(C￿dary education 10- levels). I I MMF-5PC4b50red Or15 coryleted thdr Ordlnary Level educatson In 2023. We rerr4in optimtsuc about their upcoming results vthich will be received In eady 2024. Solv power4d uter lab vns SI￿trI1ed. The toplcs In the Icr clubs eover everythlng from compu¢er baslcs, such as how to use a computer 2nd nMn8ge fil how to iThtwate ICT and learning through learning apps like Efimika App (Shule DSre¢t) to codSn& MMF Txh day 2023 was a great success brinwn8 a total of 82 students and 14 teathers together to showcase dltsal skllls and Soluuons. FIn￿￿la1 review The Trustees approved charftable expendlcure In the perltsd of £111199 (2022 - £13,075) and 8en¢rated a rbet defick for the p•iod of £71,93912022- surplus of £15.605), after ￿1¢Y￿1n8 for doThatlons and Investment intome. At tho year end the tharlty held net ￿Sets of £457,960 P022 - É529B99). The reserves of the charity consist of unrestrithd funds of £457,96012022 - £529,899). The TrustèÈs rÈt&n a suffititnt ￿tI of free reserves to cover any expendiLure which may become necessary and to wve the charSty fi￿lbIlIty In catyng out ￿ oblectw. Reference and thlnlstratlve d¢tall$ ReOs¢er*d Charlty number.. 1079956 Trustees who servéd Sn tht year wert.. I S Matthews S G Mitthew5 A knlkenny OBE Prinupal offKe: 6 Derby Strett L￿dOn WII 7AD Bankers.. HSBC Bank pk 69 P￿1 Mall L¢￿dOn. SWIY SEY Indewdent examiner. Suzanne Rose ACA CTA Dixon Wilson 22 Chancery Lane L*xdon wc￿ ILS Approved by the Trustees on 21kn loZ4 and Si￿ed on their bohalP. J S MAThHEWS TnJ$tee THE MICHAEL MAThHEWS FIXINDATIQN INDEPENDENT EXAMINERS. REPORT Yw ended 30 April 2023 INDEPENDENT EXAMINERV REPORT TO THE TRUSTEES OF THE MICHAEL MAThHEWS FOUNDATION I report to the Trustse¥ on my wffllnatron of the accounts of the Trust for the Jpar ended 30 Aprll 2023. Respon51blllties and basis of report As the charfty Tnjstees of the TnK%t you are responsible for th• pr•pardtion of the accounts in afford￿Ce the requirements of the Charities Act 2011 ('the Adl. You are satisfied that an audlt is not requlred for this year undBr ¢lBrity law and an In&P￿dent &Y?￿na￿0n is needed. I report In respett of my examinatkin of the Trusvs accounts Carr￿ out under sectk)n 145 of the 2011 Act and In carrylng out my examlnation I IHve folbwed all the ¥pllable Dlredons g1￿ by the Ch¥ity Cpmm155bn under settion 145{5)(b) of the ACL An Independent examlnadon does not Involve gatherlng all the evldente that would be required in an aud￿ and consequently does not cover ￿1 the matters than an audltor conslders In *vln8 thelr oplThion on tho accounts. The planning and conduct of an aud1¢ goes beyryO the Ilmlted assurnnce that an Independent examinatioTh can provide. Consequently, l expre55 no opiThioTh as to Yhthr the accounts present a 'true and fail View and rny rqport 15 Ilmleed to th¢)se specffic matters 5tt out in the independent examlnerfs statemenL Independent •xwnln•rfs %tat•mtnt l am qualified to underrake th¢ examlnaelon by belng a q￿lIfied member of the Institute of Chv¢ered A¢￿untants in Enland and Wale I have completed my examination. I ronfirrn that no materlal m?tter5 have come to my attentlon kn connection the examknation me cause to believe that in any materlal respect ccountlng records were not kept in respect ofthe Trusr al requ￿ed by >ectbn 130 ofthe or L the accounts do not accord with those record5. or 3. the aCcOur￿ do not ¢Dmply the appliEable requlrements concernlng the forni and contènt of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts glve a true and fdlr vleW whith is not a nHtter ¢¢Y￿ldered ￿ part of an Ind4)endent èxamlnatron. 4. the accounts have not been prydred In accordance v+lth the method5 and princlplu of the Statemert of Reconynended Pt7ct5ce for ￿cOuntIng and repordng by charfdes appllcable to charities prepthng thelr accounts in iccorthnce wrth the ￿nanCI￿ Reporting Standard ¥plicable in the UK and Republlc of Ireland IFRS 102). I ha￿ np concern5 and have ccffle aLr053 mat¢ers In c¢)nnectkn wth the examlnatl¢)n to whlch attentlon Should be drawn ￿ thls report In order ¢0 enable a proper undor5randing of the accounts to be reached. S ROSE ACA CTA Dixon Wilson 22 Chancery Lane LcffjdoTh WC2A I LS 28 Fèbruary 2024 THE MICHAEL MATfHEWS FOUNDATION ST A T EM ENT O F FI NANC IAL ACTIVITI ES Year ￿ded 30 Aprll 2023 Notss Fund 2023 Fund 2022 Incomè and •ndowmtnts fron D¢natlons and legdcle5 36.620 24112 568 Total incoTh and endowments 46260 2&680 Expendlture on: Charitable attbvities 118.199 13.07S Totsl expendltuye 118.199 13,075 Net (expendlture)Ilncome and net moV￿ent In fwbth for the year (71.939) 15.005 R¢conclll*tlon of fund# Tptal knnd5 brou8htforward Fund b￿an¢• ¢wYi•d for¥Mrd It 30 April 2023 529.899 514.294 457.%0 529.899 I Income and expendltsjre derfve from contlnvlng advltlè THE MICHAEL MATTHEWS FOVNDATION BALANCE SHEET At 30 April 2023 2023 2022 Current •ss•ts Cash at bank Deb¢ors 456,960 530.209 1.130 459.760 531,339 Llabllltlw: Credltors: Amounts ￿l￿g due Wthln oThe ye¥ I1,8C￿} (1,440) 529.899 529,899 457.960 457,960 The funds ofth¢ sessment o18oin8 concern The flr4￿[al s¢atements Pove be￿ prepared in acw-dance h￿th ACcwntlr￿ and Reporring by Chwities: Stsremen¢ of Recorrmended Practke app1Ka￿e to charl￿$ preparlng thelr a¢¢ounty kn accordance wth the Reporting Stsndard aptAlcable In the UK and Republlc of Ireland (FRS 102) leffecrfve l Jan￿ry 2019) - (Charkles SORP (FRS 1021), the R¢portlng Stand¥d aFfj>IKabl¢ In the UK and Replknlir of Ird#nd (FRS 102), the CornpanR5 Acr 2￿& antj the Ch3riti&5 Att 2011. The Pn￿¢￿1 alt￿ents are denominat*J kn ste￿Ing and rLxJnded to the rThre5t £. The Trus¢ wnsdtsjtes a publ1¢ benefit ent￿Y ￿ defined by FRS 102. hjsets and Ilabllkne$ are Inlthlty recogn￿ed at histo￿￿ cost or transatti¢)n y￿Ut unless othernvtse stated kn the rdeydnt acctyJn￿fiI pollcy note. The Tru5tee5 conslder tkn thEre are no material ￿cert￿n￿e5 abo￿ the abllty to c£¥rtlnuè as t golng con￿rn. (b> Fund Accountin¥ pollcy The tharlty comytses of a sinle wres¢ricted fund Unrestrltt*d knds are le￿ra1 fuThl$ that arn awdllable for us• at the Trurtees, dwetipn in fijrtheranre ofthE oLiectiYe5 dthe tharity. (c) Incomin8 vesoiw t)orAtfjons are reco8nL%ed when tl* Trust has entidemert to the incom< there 15 reasuhthle &8suTrnc¢ of recei￿ ar the amount of kncorne can be measured rellably. Invesunent Income is $ta¢ed in the accounts as the amount rnceivabl& JI donatbns recd¥ed under the Gift Aid ¥themE are used for tharitsbk purpow not to cov•r •xptn1•5 of the charlty. (d) Rwources expended LRbilrae5 are rEcosrth5ed as %)on a5 there 1$ a legal or con$trucuYe cl>llgatyon comrnittlng the Tr￿t to thè expen¢*ure, It 1$ probable that srfrlement I￿11 b* r¢qulr*J and the amtyjnt dthe obllgalon ¢&n be m¢asured reli*. DonatiOll5 paydbk are recognised when there Is a commitment or when Cl￿d￿On$ attached com￿n￿¢ments are fU￿lled. All expend￿re ts attourted for cn w accrn￿$ ba515. MICHAEL MATTHEWS FOUNDATION NOTES TO THE FINANCIAL ST ATEMENTS Year •nded 30 April 2023 Income from donAtlon$ and legacles Donation$ *nd It8aci•s 2023 2022 D<¥)otlons under the Glft Ad sd)eme Orher don3tyons 35,1 26,672 1,440 24112 36.620 JI donadons are unrestrfrtad. Investment Income Interert recewable from UK deposi¢ account 568 Analysis of tharitable expenditur• The charity undenakes its charitable ac¢Nitie5 throuth gr4nt rryaking aThd awards grants to writiipons in furtherdnce of its charltable ¢￿I￿￿Ve$. Grwrt fvnded activity Support Totsl 2022 2023 Edwauon 116,250 116,250 1.949 11&199 13,075 13.075 Total 1.949 118,199 An*sii of 5UPPOrt costs 2023 2022 G¢)Yvnance costs Bank ¢h3rges 1,800 149 1,440 97 1,949 lJ37 Gov•rnanc• costs Independent examination fee 1000 1.440 knclplénts of Instltutlonzl grants: In Afrka 116.250 11538 116,250 11.538 THE MICHAEL MATTHEWS FOUNDATION NOTES TO THE FINANCIAL ST ATEMENTS Year ended 30 APFII 2023 Debtors 2023 2022 A¢crued deposlt Int￿&t Accrued grft ￿d- websit¢ donation5 Graits receivable 238 1,244 18fy) 1,130 Curr•nt Ilabilities Independent eXamI￿￿On lee 1,8rxi 1,440 1,8ty) TNrtees' remunwatlon No tyustees received any remuneration or reimbur¥ement of expenses {2022- N¢￿t). Employ••s The Trwt did not have any employe85 dur￿￿ the year12022- None). Atlat￿ pvty transactlons Dsjrlng the yvdr. the amount of dona￿on$ re*lved wl¢hout r¢strlctton$ from related partles totalled £1,078 (2022 - £3.5461. ￿rIng the year £1,80012022 - £1.440) of expemse$ were pald on behav of the Foundatlon by retsted