THE MICHAEL MATTHEWS FOUNDATION REPORT AND ACCOUNTS YEAR ENDED 30 APRIL 2024
THE MICHAEL MArrHEW8 FOUNDATION l N D E X Year ended 30 Aprll 2024 Page Report of the Trustses Independent examlners, report Statement of financial activities Balance sheet Notss to the financial statements
THE MICHAEL MAThHEWS FOUNDATION REPOR T OF THE TRUSTEES Yéarended 30 Aprll 2024 The Trustees present their annual report and accounts of the charity for the year ended 30 April 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 of the financial statements and with the Accounting and Reporting by Charities.. Slalemenl of Recommended PractiTr applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019). Strneture, governance and management The Trust is an unincorporated charity, constructed under a Trust Deed dated 8 February 2000 and is a registered charity. number 1079956. The power to appoint new Trustees is vested in the existing Trustees. Responsibility for the induction of any new Trustee, which involves awareness of the history and approach of the charity and an understanding of a Trustees duty, lies with the Trustees. A new Trustee would receive copies of the previous year's accounts. Objectives and activities The objects of the Trust as given in the Trust Deed are for the lurtherance and pursuance of charitable purposes. The objectives of the charity are met by making charitable grant5. The charity has a focus on providing grants to improve the lives of children in highly deprived are8s. During the year grants were made totslling £52,33112023 - £116,250). The Foundation works in conjunction with Lyra in Africa (UK charity - 11464961 with a branch based in Tanzania. Grant applications are revlewed by the Trustees and grants are made at the Trustees, discretion. The Trust Deed empowers the Trustee81o invest at their absolute discretion. The Trustees, having regard lo the PubliG benefit guidante published by the Charity Commission in accordan with section 17 of the Charities Act 2011, conslder that the purpose and activities of the charity satisfy the requirements for the public benefit test set out in section 4 of the same acl. Achievements and performance The Charity's operating costs continue to be met by members of Ihe Matthews family and the settlement of these costs on the Charity's behalf have been treated as 'other donations, (see note 2, page 9} in the accounts. As a result, 1 OOD/o of the donations (excluding the aforementioned 'other donations'l can be used to deliver benefit to those whom the Charity supports. Grants continue to be made where the Trustees feel that the students will experience life transfomiing beneffts of education in Tanzania, in conjunction with Lyra in Africa - a UK registered charity. Through the continued support from the Michael Matthews Foundation IMMFI. Lyra in Africa implemented three programmslic areas in Tanzania during the 2024 financial year. Installation of Salar power system in Lulanzi Secondary School Sponsoring 90 ultra poor rural girls to continue with their secondary education The digital learning prograrn that has helped close the digital gap in education in Tanzania.
THE MICHAEL MATTHEWS FOUNDATION REPOR T OF TH E TRUSTEES Icont) Yearended 30 April 2024 Glrls Sponsorshlp MMF Continues to sponsor marginalised and disadvantaged gids from ultra-poor backgrounds to continue their secondary education. 90 ultra-poor girls were sponsored by MMF during 2024. These 90 girls were split across the Lyra partner schools, including Nyang'oro. Mlowa, Mazombe, Lulanzi, Ilambilole, Ifwagi, Madoma and LundaMae. The selection of these girls followed the enhanced selection process put in pla by Lyra in 2022, ensuring increased transparency and full involvement of key local stakeholders in the selection proces5. By December 2024, all of the MMF-sponsored girls remained in the hostels. In a country that has a high percentsge of girls dropping out of school. this is a significant achievement as it signifies that none of the sponsored gitls have dropped out of school. This is true of all MMF sponsored girls. We are delighted that all MMF-sponsored girls are now actively engaged in the Lyra-run ICT clubs and can enjoy evening sessions as they live in the hostels. Ten MMF-sponsored girls from IagI, Ilambilole, and Lulanzi participated in the MMF Techday event held in June 2024 and were part of the students. teams pilthing their digital innovations. Three girls who were previously sponsored by MMF throughout their lower secondary education performed well. and have Gonlinued into advanced education, with continued sponsorship from MMF starting this year.. Solar powered computer lab at Lulanzl Secondary School The Lulanzi Secondary school has been Iransfomied by the solar power system installed by funding from MMF. lringa, particularly Kilolo district, experiences severe power cuts every week. This was a challenge for nol only the computer lab, but also the school itself. After Ihe solar system installation, the school has reduced grid electricity costs from approximately TZS 80,000 monthly (USD 331 lo less than TZS 20.000 (USD 81 and computer lab utilisation is now available throughout the day, where before they had strictly allocated lime, depending on the school budgel. The solar power now runs 33 computers. three in the teachers, lounge where teachers can learn computer basits, prepare lesson plans, prepare test8 and examinations and marf< performance all in privacy. For sustsinability, Lyra changed the approath of the digitsl leaming tabs to our new Flagship program "Tech-lnclusive Education or TIE during this year. Under the TIE program spOnSIbl111Y has shifted from Lyra to the School EdTech Committees. These committees supervise the equipment, and manage and advise the school how lo best reap benefits of the computer lab. The CDmmillee comprises 8 parent, an ICT teacher, a sludenl and the headmaster ensuring that computers are well maintained, repaiied and the usage schedule is planned and implemented. TIE has now been tested for a year and Lyra is now working with the Ministry of Education to scale this new initiative across four new regions in partnership with the Ministry of education. Digitsl Literacy in Lulanzi School The primary objective of the 3-year Lulanzi computer lab project funded by MMF was to promote comprehensive digital literacy among the teachers and students. ensuring universal access to omputerized learning materia15. Significant achievements include a targeted teacher training program that successfully equipped 20 teachers from Lulanzi with skills in quiz creation, digital note preparation. online exam administration, and group discussion management, along with the facilitation 01182 learning materials uploaded to the Elimika plafform. Through Elimika. teachers can upskill in areas such as digital pedagogy, STEM integration, and Gontent delivery, ensuring that their teaching methods are both
THE MICHAEL MAThHEWS FOUNDATION REPOR T OF TH E TRUSTEES (cont) Yearended 30 April 2024 innovative and effective. In parallel, the student digitsl literacy program had throughout 2024 30 ICT sessions that trained 730 student5, Gourses that covered tOPlC8 that included., Navigating the Elimika plaffomi and accessing learning materials Introduction ID Computer Basic Computer Application {Word, Excel. Powerpointl Entrepreneurship STEM Safeguarding Coding (Web development, Mobile Application development, Robolicsl Leadership A second transfomiational change in Edtech for Lulanzi school took place this autumn when internet access was rolled out in Lulanzi through a Lyra partner inlemel provider. The school's form one and fomi three sbjdenls were provided with internet safeguarding training lo help prote¢t students as they take their education online. Financlal revlew The Trustees approved charitable expenditure in Ihe period of £54,26412023 - £118,199) and generated net surplus for the period of £17,93312023- deficit of £71.9391. after allowing for donations and investment income. At th8 year end the chartty held net assets of £475,89312023 - £457.9601. The reserves of the charity consist of unrestricted funds of £475,89312023 - £457,960). The Trustees retain sufficient level of free reserves to cover any expenditure which may become necessary and to give the charity flexibility in carrying out its objectives. Reference and admlnlgtratlve detalls Registered Charity number.. 1079956 Trustees who seNed in the year were.. J S Matthews S G Matthews A Kilkenny OBE Principal Offi.. 6 Derby Streel London W1J 7A0 Bankers.. HSBC Bank plc 69 Pall Mall London, SW1Y SEY Independent examiner, Suzanne Rose ACA CTA Dixon Wilson 22 Chancery Lane London WC2A 1 LS Approved by the Trustees on 25°tr-y 2015 and Signed on their behalf.. J S MATTHEWS Trustee
THE MICHAEL MATTHEWS FOUNDATION I N DEPEN DENT EXAM I N ERS REPOR T Year ended 30 April 2024 INDEPENDENT exAMINERS' REPORT TO THE TRUSTEES OF THE MICHAEL MATTHEWS FOUNDATION I report to the Trustees on My examination of the accounts of the Trust for the year ended 30 April 2024. Responslbllltles and basls of report As the charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charitie5 Act 20111.the Act'l. You are satisfied that an audit is not required for this year under charity law and that an independent examination is needed. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Direction8 given by the Charity Commission under section 14515llbl of the Act. An independent examination does not involve gathering all the evidence that would b8 required in an audit and consequently does not cover all the matters than an auditor ¢onsider$ in giving their opinion on the accounts. The planning and conduct of an audil goes beyond the limited assurance that an independent 8xamination can provide. Consequently, l express no opinion as to whether the accounts present a 'true and fairf view and my report Is limited to those speGific matters sel out in the independent examiner's statement. Independent examlner's ststement l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. I have completed my examination. I confimi that no material matters have come lo my attention in onneGb'on with the examination giving me cause to believe that in any material re5peGt'. accounting records were not kept in respect of the Trust as required by s8c150n 130 of the Act., or 2. the accounts do not accord with those records; or 3. Ihe accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charitie5 (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination, 4. the accounts have not been prepared in aGGordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republi of Ireland IFRS 1021, I have no concerns and have ¢ome across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be ached SE ACA CTA Dixon Wilson 22 Chancery Lane London WC2A 1LS 24 January 2025
THE MICHAEL MATTHEWS FOUNDATION ST A TEM ENT OF FI NANCIAL ACTIVITI ES Year ended 30 April 2024 Notes Unrestrlcted Fund 2024 Unrestricted Fund 2023 Income and endowments from: Donatsons and legacies Investment income 52.179 20,018 72,197 36,620 9,640 Total income and endowments 46,260 Expondlture on: Charitable activities 54,264 54,2S4 118,199 118.199 Total expendlture Net lexpenditure)Ilncome and net movement in funds forthe year 17,933 (71,939) Reconclllatlon of funds Total funds brought forward Fund balance carried foThvard at 30 Aprll 2024 457,960 475,893 529,899 457,960 All income and expenditure derive from continuing activities.
THE MICHAEL MATTHEWS FOUNDATION ALANCE SHEET At 30 Aprll 2024 Note 2024 2023 Current assets Cash at bank Debtors 477,616 77 456,960 2,800 459, 760 Totsl current assets 477,693 Llabllilles: Crèditors: Amounts falllng due wlthin one year Net current asset8 11,800) 475,893 475,893 (1,800) 457,960 Total net a5s•ts 457,960 The funds of th8 charity: UnStricted funds 475,893 475,893 457,960 457,960 Tolal charlty funds The financlal statements set out on pages 6 to 10 We approved by the Tru8tee8 on 2025 and were slgned on their behalf by.. January J S MArrHEWS Trustee
THE MICHAEL MATTHEWS FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Year ended 30 April 2024 Accountlng Pollcles lal Basls of preparatlon and assessment of golng concern The finanaal statements have been prepared in accordance with AGcounling and Reporting by Charities.. Statement of Recommended Practi applicable to tharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019)- (Charities SORP IFRS 10211, the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021, the Companies Act 2006 and the Charities Act 2011. The financial Statements are denominated in Sterfing and rounded to the nearest £. The Trust constitutes a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised al histDric81 cost or transaction value unless otherwise slated in the relevant accounting policy note. The Trustees consider that there are no matsrial uncertainties about the Trust's ability lo Continue as a going concern. {b) Fufid accounting policy The charity MpriSeS of a single unrestricted fund. Unrestricted fvnds are general funds that are available for use at the Trustees, discretion in furtherance of the objectives of the charity. Ic) Incoming resources Donations are recognised when the Trust has entitlement lo the income, there is reasonable assurance of receipt and the amount of income can be measured reliably. Investment income is stated in the aGGounls as the amount receivable. All donations received under the Gift Aid scheme are used for charitable purposes and not lo cover expenses of the charity. Idl Resources expended Liabilities are recognised as soon as there is a legal or Constructive obligation committing the Trust to the expenditure, it is probable that settlement will be required and the amDunt Df the obligation can be measured reliably. Donations payable are reGognised when there is a commitment Dr when condltions attached commitrnents are fulfilled. All expenditure is accounted for on an ac(xuals basis.
THE MICHAEL MAThHEW8 FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Yearendéd 30 April 2024 Income from donatlon8 and legacles Donatlons and legacles 2024 2023 Donations under the Gift Aid 5Gheme Other donations 50,379 1,800 52,179 35,180 1,440 36,620 All don8tions are unrestricted. Investment income Interest receivable from UK deposit account 20,018 9,640 Analysls of ¢harltable expendlture The charity undertake$ its charitable aGtlvltle5 through grant making and awards grants to Instltutions in furtherance of tts charitable objectlves. Grant funded actlvlty Support costs Totsl 2024 Total 2023 Education 52,331 52,331 1,933 54,264 54,264 118,199 118,199 Totsl 1,933 Anatysis of support costs 2024 2023 Governance costs Bank charges 1,800 133 1,800 149 1,933 1,949 Governance costs Independent examination fees 1,800 1,800 Recipients of institutional grants: Lyra in Africa 52.331 116,250 116.250 52,331
THE MICHAEL MArrHEWS FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Year ended 30 Aprll 2024 Dabtors 2024 2023 Other debtors 77 2,800 2,800 77 Credltors: Amountfalling due within one year 1,800 1,800 1,800 1,800 Tru8tees' remuneration No trustees received any remuneration or reimbursement of expenses {2023- None). Employees The Trust dld not havè any employees during the year12023- None). Related party tran$actlons During the year, the amount of donations received without restrictlons from related parties totalled £nil (2023- £1,078). During Ihe year £1,80012023 - £1,800) of expenses were paid on behalf of the Foundation by related parties. 10