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 LundaMa￿e. 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 I￿agI, 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:
Un￿Stricted 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