CHARITY REGISTRATION NUMBER: 1080687 Support Malawi Financial Statements For the year ended 31 August 2024
Support Malawi FlnAncial Statements Y¢Ydr ended 31 August 2024 Pages Trustees, annual report Ito4 Independent auditor's report to the members 5t08 Statement of financial 8Ctiviti¢8 Statwnent of financial position 10 Statement of cash flows 11 Notes to thc financial statanents 12to17
Support Malawi Trustees, Annugl Report Year ended 31 August 2024 Th¢ trustees present their report and the financial statements of the charity for the year ended 31 August 2024. Reference and administrative detf4ils Registered chArity name Support Malawi Charlty reglstration number 1080687 Prlncipal offiee 6 Hall Green Lane Fcnstanton Cambridgcshire PE28 9JH The trustees J Chart¢r Mr N F¢rnandcz Mr A Stq)hens Mr D Moore C Johnson C O Sear1¢ (Appoint¢d 16 July 2024) (Appointed 25 March 2025) AUDITOR Strcct¥ Audit LLP Chartcred Accountants & Statutory Auditor 3 Wellbrook Court Girton Cambridge CB3 ONA BAIYKERS Lloyds Bank plc Gonvillc Placc Cambridg¢ CB2 IBQ SOLICITORS Taylor Vintcrs Merlin Placc Mtlton Road Cambridg¢ CB4 ODP
Support Malawi Trustees, Annual Report f¢o*tiNHed) Year ended 31 August 2024 Achievements And future pl¥dns Achievements and performance The charity was set up to aid the relief of poverty in Malawi. The charity achieves thls through the carc and education of orphans and wlllnerablc children. The charity has 12 centres throughout southern Malawi. It currently has approximately 3.000 children and vulnerablc adulis under ils umbr¢lla of car¢. The charity providcs sheltcr. clothing, food, licalth¢&re and education for its beneficiaries. Four scliools, three hcalthcarc clinics and a girls, hostel havc already bcen built. Th¢ skills centre is llY opcrational and provides infornial vocational training courses for individuals who have b¢¢n through our program but, for various reasons, werc unable to finish school. We aim to train 180 students per year. WL offLr various courscs inLluding tailoring, motor mechanics, hair and beauty. wclding and fabrication, and mobilc phonc repair. We have achicvcd a IOO°/o pass ratc in a Malawi 8overnm¢nt accrLdit¢d qualification. In addition, our r¢licf program cater5 for1,500+ babies, ¢ldL'rly and handicapped peopl¢ providing maize, blankets, roofing materials, sccd and fcrtilis¢r etc. Thc cost of mai7e, which is h staplc food. doubl¢d. Mai7¢ was bought at the start of the scason to offset Ihcse riscs, and support was providcd to the staff at thL ccnlres io givc thcm a stsblL pricc. Plans for future perlods Thc trusteLs arc cornmittLd to continue working on thc existing projccls and lo seLk further ways to allcviatc povLriy aiid suffcriiig iii Malawi. For cxan)plc, th¢ rising cost of livi11 is impatiling all aspLLls of oiir work. Th cost or r¢rlili7¢r rnsc prohibilively Pulling il out of the rcach of rurnl farmLYs relying on subsistcnre liviiig. We hope to continuL' cducating rural farmers in sustainable fanning practiccs, but this is dLyendcnt on funding. We plan to build a maizL' and rice mill at our Umodzi centrc in order to offset thc cost of millin&v our own maizc. and to provide a chdrgeabl¢ scrvicc lo lh¢ local community. We also plan to build su81ainable bakerics in multiple Lentr¢5, which will gcncrat¢ incomc, Thc trustccs arc aware of thc challen8cs caused by rcduced incomc and incrcasing costs. They will prioritise projccts to balancc income with cxpenditurc.
Support Malawi Trusteesl Annual Report (comtlnited) Year ended 31 August 2024 Structure? governance and management Status The charity was established by trust deed on 25 April 2000 and was registered with the Charity Commission, number 1080687, under the name "Lifeline Fund" as at 31 August 2024. The namL was subscquently changed at th¢ Charity Commission to "Support Malawi" on 8 October 2024, and "Lifcline Fund" was retainLd at the Charity Commission as a working name. Trustees There shall be at l¢ast three trust¢¢s who are appoint¢d in accordan¢¢ with the trust deed. When appointing truste¢s, th¢ currcnt trustecs shall consider how he or she will makc a contribution to the pursuit of thc objeLls or the manag7Lm¢"nt of thc charity. No pcrson may bc eligiblc to act as a trustee unless h¢ or shc has attained the ag¢ of eighteen yLars. Th¢ trustecs shall hold at least two mi¢lings in Lach ycar. Organlsationil strueture The trustces dctLrn)In¢ th¢ general policy of the organisation. The day to day managcrncnt of th¢ ¢harity is dL.legatcd to INstcc J Chartcr. Risk management Thc trustecs have assLssed thu major risks to which thL charity is cxposed and arc satisficd that systems are in placc tu mitigatc any cxposurc lo such risks. Objectives and actlvities The objccts of thc charity arL' Ihc rclief of poverty and thc advanccment of cducation of childrcn and othcr nctidy p¢ople in Malawi. The objccts arc achieved largely by making grants lo AquAid LifLlinc Malawi, an indcpcndLnt charity basL.d in Malawi, which is rLspon8iblc for thc day-to-day reliif work. In thc exerci8L of our powers to that cnd we have paid due rigard to the published guidance from the Charity Commission on the opLration of the Public Bencfit requirLment under thc CharitiLs Act 2011 Flnanclal review Reserve Th¢ charity's frLe r¢s¢rv¢s arc rcpr¢sent¢d by its unrestri¢tcd nct assets of £278,406 as of 3 1st August 2024. The levcl of fr¢¢ serveS is target¢d to covcr approximately three months of project ¢xpenditure, which thc trust¢¢s r¢gard as prudent. Prlneipal funding sources Th¢ charity receives the majority of its income by way of donations from Cooleraid Limited and also r¢1Ve8 significant donations from Aquaid Franchising. Dalitso, Arbroath. St Marys Church Hitchin. Mission Guides (formcrly Spring Lake Church) Wisconsin, Es D¢vlin and Citystay Cambridge. The trustees ar¢ ¢xtremely grat¢ful for this support and for the sUPPOrt of all of th¢ charity's donors.
Support Malawi Trustees, Annual Report fconlimmed) Year ended 31 August 2024 Flnancial review {tonllhMed) Investment powers These are governed by the trust deed whtch perniits any investments held in the name of any clearing bank, any trust corporation or any stockbroking company which is a member of the Stock Exchange. Trustees, responslbilities statement Thc trustees are rcsponsiblL for preparing the trustccs, rl'port and thc financial statements in accordance with applicable law and Unit¥d Kingdom Accounting Standards (Unit¢d Kingdom Generally Accepted Accounting Practice). The law applicablc to charitics in England and Wales rcquircs thc charity truste¢s to prcparL' financial statements for each year which give a tme and fair vicw of the statc of affairs of the charity and of thL incoming rL50UW¢S and application of rcsourceb, of thc charity ror that period. In pr¢paring thesc financial statLments, thL trustc¢s arc required to: sclcct suitablL a¢¢ounting policiL'S and then apply them consistently,, observc thL methods and principlcs in the applicable Charities SORP. mak¢ judgments and accounting estimates that are rL'a50nable and prudent; statc whcthLr applicabl¢ UK Accounting standard8 have bccn followcd, Subjcct to any material departurL's discloscd and explain¢d in thc financial statcments- prcparc the financial statemcnts on thc going concern basis unlcss it is inappropriate to prcsume that thc charity will continue in business. The trustees are rcsponsiblc for keepinLF adLquatc accounting rLLords that are sufficiL'nt to show and explain thc charity's transactions and disclosc with reasonablc accuraLy at any limc th¢ rtnancial position of the charity and L'nablc Ihcm to LnsLlI'L that Ihc finanLial slatcmLnts coniply with the Charilics Act 201 I, thL applicablL Charilics (ALLuiinls and RLPlJrts) RLbiLilali(Trnb, and Ihc provlsiviis of IhL Trust DILd. ThLy arc also I'LSk)o1)sibl for safcguarding the assets of th¢ ¢harity and hL'nce for taking rsOnable st¢ps for thc prLycntion and dclection of fraud and othcr irr¢gularities. Thc tru5tees' annual rcport was approvcd on 29 May 2025 . and sigfted on behalf of the board of trnst¢es by: J Chart¢r Truslce
Support Malawi Independent Auditor's Report to the Members of Support Malawi Year ended 31 August 2024 Opinion We have audited the financial statements of Support Malawi (the 'charity') for the year ended 31 August 2024 which comprise the statknment of flnancial activitics, statcment of financial position, statement of cash flows and the relat¢d notes, including a summary of significant accounting policies. The financial rq)orting framework that has been applied in thcir preparation is applicable law and Unitcd Kingdom Accounting Siandards, including FRS 102 Thc Financial Reporting Standard applicable in the UK and Rcpublic of Ireland (United Kingdom Gencrally Acccpted Accounting Practice). In our opinion the financial statements: give a tru¢ and fair view of th¢ state of the charity's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and cxp¢nditur¢, for the y¢ar then ended- have been properly pr¢pared in accordance with Unit¢d Kingdom G¢n¢rally Accept¢d Accounting Practice. hav¢ b¢cn prcparL'd in a¢cordancc with th¢ requirements of the Charitics Act 2011. Basis for oplnlon We conducled our audit in accordanLe with Int¢rn8tional Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our rcsponsibilities und¥r thos¢ standards ar¢ rther dcscribcd in thc auditor's responsibilitics for the audit of the fjnancial stat¢rnents scLtion of our report. W¢ arL indcpLndeDt of the charity in accordanc¢ with thc ethical rcquiremcnts that arc relevant to our audit of the financial statemcnts in thc UK. including thc FRC'S Ethical Standard, and wc have fulfilled our other ethiLal respon5ibilitiLs in accordancc. with thesc rLquircmLnls. Wc beli¢ve that thc audit evid¢nce WL have obtained is sufficicnt and appropriatc to provide a basis for our opinion. Conclusions relatin% to Eoing concern In auditingF thL. financial slatcmL'nts. wu havc conclud¥d that the tru5tLes' us¥ of thL going conccm basis of accounting in the preparation of thv financial slatLmentS 18 appropriate. Based on the work we have pcrforn]ed, wc havc not idcntified any matLrial uncLYtaintics relating to cvents or conditions that, individually or collLctively, may casl significant doubt on the charity's ability to continue as a going concLm for a PLYiod of at least twelvc months from whcn the financial slatcmLnts arc authorisL.d for issu¢. Our rcsponsibilities and the r¢sponsibilAties of the trust¢es with resprxt to going ¢oncem arL' dcscribed in th¢ relevant sections of this report.
Support Malaivi Independent Auditor's Report to the Members of Support Malaivi {coAil•ued) Year ended 31 August 2024 Other information The other inforn)ation compriscs the information included in the annual rcport, othcr than the financial statcments and our auditor's rL'porl thercon. The Irustees are rcsponsiblc for the othcr infonnation. Ouropinion on thL financlal statemcnls does not ¢ov¢r the other infonnation and, ¢xccpt to th¢ extcnt otherwise explicitly stated in our report. w¢ do not express aT]y form of assurance conclusion th¢reon. In connLCtion with our audit of thc flnancial statLments. our responsibility is to rcad th¢ othcr inforn)ation and, in doing so, consider whether thc other infonnation is rnaterially inconsistenl with the funCIal stafrments or our knowlLdge oblainLd in the audit or otherwise appears to be materially misstatLd. If we idcntify such mat¢rial inconsistencies or apparent material misslatemcnts, we are r¢quirLd to deterniine whethcr there is a mat¢rial misstatement in the financial slatemcnts or a material misstat¢ment of th¢ other inforniation. If, based on th¢ work wv have performed, we conclude that there is a material misstatLment of this other infomation, wc are r¢quirLd to report that fact. We have nothing to report in this regard. Matters on whleh we are requlred to report by exception In the light of the knowl¢dgL and undcrstanding of th¢ charity and its environment obtained in thc coursc of th¢ audit, wc hav¢ not identified mat¢rial misstst¢ments in the Iruste¢s' rcport. Wc hav¢ nothing to report in respcct of the following matt¢r8 in relation to which the Charitics Act 2011 requires us to report to you if, in our opinion: the inforn]ation givcn in the trnstccs, rwrt is inconsistent in any matcrial respcct with thc flnancial statcmcnts; or adequate accountin8 records have not becn kept- or the financial statemLnts ar¢ not in agreemLnt with Ihc accounting rc¢ords and r¢turns' or we have not roceived all the information and ¢xplanations wc rcquir¢ for our audit, Responslbilities of Irustees As explaincd morc llY in the truste¢s' responsibilitics statcment, th¢ trustccs ar¥ responsiblc for the pr¥paration of thc financial statemcnls and for bcing salisfiLd that they giv¢ a tru¢ and fair vicw. and for such internal control as the trustee8 dctermine is nicL'ssary io cnablc thL preparation or rinancial statem¢nts that arc free from materlal mis8tatcment, wli¢ther duc to traud or error. In preparing the fmancial statemLnts, the trustees are rcsponsiblL for assessing the charity's ability to continuc as a going conLCrn, disclosing, as applicable, matters related to goin&y concern and using the going concern basis of accounting unless thL twstees ¥ither intend to liquidate the charity or to ccase operations, or have no realistic alternativc but to do so.
Support Malawi Independent Auditor's Report lo the Members of Support Malawi (c&NliR#eJ) Year ended 31 August 2024 Auditor's responsibllltles for the audlt of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole ar¢ free from matcrial tnisstatement, whether due to fraud or error, and to issu¢ an auditor's report that includes our opinion. Rcasonablu assurance is a high Icvel of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considercd material if, individually or in the aggrL'gatL, they could asOnablY be expected to influence the economic decisions of users taken on the basis of thlse financial statemcnts. Irregularities, including fraud, arc instances of non-compliance with laws and rLgulations. We dcsign proccdures in line with our responsibilitics, outlinLd above, to detect matLrial misslatcments in respccl of irrcgularitlLS, including fraud. The Lxtcnt which our proc¢durcs ar¢ capable of d¢t¢cting irregularities. including fraud is detailcd bclow.. Our approach to idcntifying and asscssing thc risks of matcrial misstst¢ment in resp¢¢t of irrL'gularitics, including fraud and non-compliancc with laws and regulations, was as follows: the ongagcment partner cnsured that thc Lngagcment tLam collectivL.ly had thc appropriatL comp¢tencc, capabililiLS and skills to identify or recognis¢ non-LompliancL Wlth applicablL laws and regulations. we idcntified thL laws and rcgulations applicable to the charity throu&Nh discussions with trustccs and other managemenl, and from our commcrcial knowlLdge and expL'ri¢ncts of thc charity and sector in which il operatCS' wv focusLd on specifiL laws and rc&wlations which we Lonsidcrcd may havc a dircct matcrial cffect on thc financial slatcmLnts or thL opcralions ofthL Lharity, including thc Companics Act 2006. Charitics Act 2011, taxation lugislation, data protcLtion, anti-bribery> employment, environmcntal and hcalth and safety Icgislation. wc assesscd the cxlent of compliancc wlth Ihc laws and rcgulations idLntificd abovL through making enquirie5 of managument and inspLcting ILgal correspondcncc. and identificd laws and rcgulations werc Lommunicatcd within thc audit tLam rcgularly and thc team remaincd alcrt to instanc¢s of non-LomplAan¢e throughout th¢ audit. We asscssed thc susccptibility of the charity's financial staW'ments to matL'rial misst2tLm¢nt, including obtaining an undcrstanding of how fraud might occur, by: making ¢nquirics of managemcnL as to whcr¢ th¢y considc'red there was susceptibility to fraud, th¢ir knowledg¢ of actual, %usp¢¢tcd and allcgcd fraud. and considering th¢ intemal controls in place to mitigate ri8ks of fraud and non-complianc¢ with laws and regulations. To addr¢ss the risk of fraud through management bias and ovcrrid¢ of controls, w¢: perfornied analytical pro¢¢dur¢s to identify any unusual or unexpected relationships. tested journal entries to identify unusual transactions. asscsscd whcthcr judg¢ments and assumptions mad¢ in dekrn]ining the accounting estimat¢s were indicative of potcntial bia5. and investigated th¢ rationale behind significant or unusual transactions.
Support Malawi Independent Audltor's Report to the Members of Support MalAWi (tonllnmed) Year ended 31 August 2024 In responsc to the risk of irregularities and non-compliance with laws and rcgulations, we designLd procedurcs which included, but were not limited to.. agreeing fmancial stat¢mLnt disclosures to underlying supp)rting documcntation. reading thc minutLS of meetings of those chargcd with governance. enquiring of manag¢ment as to actual and pot¢ntial litigation and claims,. and revicwing correspondence with HMRC, rclcvant regulators and th¢ charity's legal advisors. Thcre are inher¢nt limitations in our audit procedures dcscrib¢d abov¢. Thc mor¢ rcmov¢d that laws and rcgiulations are from financial transactions, the ILSS lik¢ly it is Ihat wc would bccom¢ aware of non-complianLC. Auditing standatds also liniil tlic audiL proccdurcs rLqiiired to idcnlify non-compliance with law5 and rcgiilations to cnquiry of IliL trustees and oll)tyi' iiiaiiagcnient and Ilie inspection of rcgulalory and legal correspoiidencc, if any. MatLrial misstatoments that arisc duc to fraud can bc harder to detect than those that arise from error as they may involve dclib¢rat¢ concoalment or collusion. A further description of our rcsponsibilities for the audit of th¢ financial ststcments is localcd on the Financial Riporting Council's website at www.frc.org.uk/auditvrsresponsibilities. This des¢ription forms part of our auditor's rcport. Uje of our report This rLport is made solely to thc charity's members, as a body, in accordancc with section 144 of the Charitics Act 201 l aIid rcgulations madc uiidcr sc¢lion 154 of Il)ai Acl. Our audil work lias bcen und¢rthkLn so that wc might stal¢ 10 tl)¢ charity's mcmbcrs tliosc maitcrs we ar¢ rLquired lo slat¢ to Ihcm in an auditor's rcpoi't and for no olhcr piirposc. To thc fullcsl cxteni pcrmitled by law, wc do not accL'pt or assume rLsponsibility to anyonc othcr than the chllrity and the tyharity's mcrnbcrs as a body, for our audit work, for this rcport, or for thL opinions we have formed. Strccts Audit LLP Charlercd Accountants & Statutory Auditor 3 Wcllbrook Court Girlon Cambridge CB3 ONA 30 May 2025
Support Malawi Statement of FinAncig1 Activitles Year ended 31 August 2024 2024 Restricted funds 2023 Unrestricted funds Total funds Total funds Note Ineome lind endowments Donations and legacies Investment income 1,025.156 81 210.151 1,235J07 81 1,440,076 26 TotAI income 1,025,237 210,151 1,235,388 1.440,102 Expenditure Expendithre on charitable acliviti¢s Total expenditure 1,081,641 ,081,641 215,548 1,297,189 1.297,189 1,402,407 215.548 1,402,407 Net (expendl¢ure)Ilneome and net movement in funds (56,404) (5,397) (61,801) 37,695 Reconclliatlon of funds Total fvnds brought fonvard Total funds CArrled forward 334,810 373 335,183 297.488 278,406 (5,024) 273,382 335,183 The stalemcnt of financial aLtivities includes all gains and IossL8 rccogniscd in thl year. All income and cxpcnditure dcrivc from coDtinuing activitics. The notes on pages 12 to 17 form part of these financiAI 5tAtements.
Support Malawi Statement of Fingnclal Positlon 31 August 2024 2024 2023 Note Currenl a$$et8 Dcbtors Cash at bank and in hand 12 38,180 240,447 41,329 298,406 278,627 339,735 Creditors: Amounts falling due wlthin one year 13 5,245 4,552 Net current Ydssets 273J82 335,183 Total assets less current lixbllitles 273J82 335.183 Iyet Assets 273,382 335,183 Funds of the ehvdrlty Restricted tunds Unrc5tricted funds (5,024) 278,406 273,382 373 334,810 Total charlty funds 14 335.183 These financial statemcnts werc approved by the board of twstees and authorised for issue on and arc signcd On behalf of the board by.. 29 May 2025 J Chartcr Trustcc The notes on pages 12 to 17 form part of these financlal statements. io-
Support Malawi Stydtement of Cash Flows Year ended 31 August 2024 2024 2023 Cydsh floivs from operating Aetivltles Nct (Cxpenditureyincome (61,801) 37,695 Adjuslmenlsfor." Depreciation of langiblc fixed assets Othcr intercst reccivable and similar incom¢ 221 (26) (81) Changes in." Trade and other dcbtors Trade and other crcditors 3,149 693 7,714 2,572 48,176 Cash generat from operation5 (58.040) Interest r¢ceivcd 81 26 Nct cash (US in)Ifrom operating activities (57,959) 48,202 Net {decrease)IlncreAse In eish and cash equlvalents Cgsh and cash equivalents at beElnning of year Cash and cash equlvalentj at end ofyear (57,959) 298,406 48,202 250.204 240,447 298,406 The notes on page5 12 to 17 form Pf4rt of these financial statements.
Support Malaivi Notes to the Financial Statements Year ended 31 August 2024 General information The charity is a public bcnefit cntlty as defined by FRS 102. Statement of compliAnce These financial statements have been prepared in compliance with FRS 102, 'The Financial Rcporting Standard applicable in the UK and the Rcpublie of Ireland,. the Statemcnt of RLcommendLd Practi¢c applicable to charities preparing their accounts in accordance with thc Financial Rcporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charittes SORP (FRS 102)) and the Charities Act 2011. Accounting pollcles BAJ15 of preparatlon The financial statemcnts havL been prepared on thc historical cost basis. ThL' financial statLments arc prepared in slL'rling, which is the functional currency of the Lntity. Goin% eoneern Thcre are no matcrial unccrtaintlcs about the charity's ability to continuc as a going conccrn. Jud%ement5 and key sources of estimY4tion uncertqlnty The preparation of the financial statemcnts requires managemint to makc judgerncnts, cstimates and assumptions that affLCt thc amounts reported. Thesc eslimalL'S and judgcments arL continually revicwed and are based on expericncL and other factors, including cxpectations of futurL cv¥nts that arL beli¥yed to bL rLasonMble under the Lircumstdnccs. Significant judgemcnts 'rhcrL arc no judL¥cmenls (apart froni thos¢ involving estimations) that managemcnt has madc in the process of applying ih¢ charity's accounting policies. Fund AccountAng Glneral ndS a unreqtriclcd fund% which are availablc for usc at thL. discrction of thc trustCC5 in furthcrancc of th¢ gencral objectiv¢s of th¢ Gharity and which have not bc¢n dcsignat¢d for olh¢r purposes, Designatcd funds arc unr¢stricted fund.8 that have been set aside by th¢ trnst¢¢5 for particular purposes. Rcstricted fun(ts are funds which ar¢ to be us¢d in accordance with spccific r¢strictions imposed by donors or which havc becn raiscd by thc Charity for particular purposes. The aim and u5¢ of rcstri¢led funds are sct out in th¢ notes to the accounts. Incoming resources All inconie is incliid¢d in Ilic slatcinent of financilll aclivitiis wlieii cnlillcmciit lias passcd lo the charity. it is probablc 11)ai11)¢ Lconoiiiic bL'nLfils assoLiated with ihc li'aiisaclion will flow lo ihc cliklrily and tlie aniount Lan b¢ rcliably mcasurcd. Thc following SPCLifi¢ polici¢s ar¢ appli¢d to particular Lategories of incom¢'. 12
Support Malawi Notes to the Financial Statements f¢oNtiNued) Year ended 31 August 2024 Accounting pollcles (coAliHMed) Incoming resources {condnHed) incomL from donations or grants is recognis¢d when thL're is ¢videnc¢' of ¢ntitlcmLnl to the gift. rec¢ipt is probablc and its amount can be m¢asured Tcliably. IcgyaLy income is recognised when rccL'ipt is probablc and ¢ntitlemc'nt is ¢stablished. - investment incomc is recognised in the accounts on a r¢ceivablL basis. Resources expended Expenditure is recogniscd on an ac¢nl basis as a liability is Incurred. Charitable ¢xpcnditure comprises IhosL costs incuffLd by the charity in furtherance of thc charity's objectives and rLpresents thc cost of &)oods and sL'rviccs and ancillary trading costs thal havc b¥en incurrLd in charitable activities. It includes both costs that tian be alloLat¢d directly io such activities and thoskn costs of an Andircct naturc necessary to support thcm. Governance costs includc Ihosc costs associatcd with mc¢ting thc constitutional and statutory requir¢ment of the charity and includc accountancy fcLs and costs linkLd lo th¢ strull'gic managemLnt of the charity. Grants payable arc included in (he Stalemcnt of fr inancial A¢livitics whin they have b¢L'n committcd by ihc trustccs. Tvdngible assets All fixLd asscts are initially rccorded at cost or, in cascs whcrc fixcd asscts havc bL'en donated to Aquaid Lifcline Fund, at fair value at the timc of gift. Deprec12tlon Deprc'ciation is calculated so as to writc off th¢ cost or valuation of an ass¢t, less ils resldual value, ovLr thc uscful cconomic lifc of that asset as follows: Fixtuws & fittings 33 % straight line Value added tax As the majority of the charity's activities are classified as excmpt or non-business aclivitils for the purposcs of value addid tax, the charity is not value added tax registLrL.d. ExpenditurL in these financial statcmcnts is therefore shown inclusive of value added tax. Taxation No provision has becn made for tax as the charity is a registered charity and is thLrefore exempt. 13
Support Malawi Notes to the Financlvdl Statements (coNÈlftued) YeAr ended 31 August 2024 Donations and lega¢le8 Unrestrictsd Funds Restricted Total Funds Funds 2024 Donations Donations Donations fron] Cooleraid Limited Donations from Aquaid Franchising Limited Gift aid 199,029 763,932 31,200 30.995 202,966 401,995 763,932 31,200 38,180 7,185 1,025,156 210,151 1,235J07 Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Donations Donations from C'ooleraid Limilcd Donations from Aquaid Franchising Limitcd Gift aid 395,262 729,403 31.200 30,012 242,882 638,144 729.403 31,200 41.329 11.317 1.185,877 254,199 1.440,076 Investment income Unrestrictcd Tot¥dl Funds Funds 2024 Unrestricted Total Fund.4 Funds 2023 Bank inlercst reccivablc 81 81 26 26 Expendilure on ehArltable aetlvities by fund type Unr¢8tricted Funds Restricted Total Funds Funds 2024 Donations to projcct work Support costs 1,078,789 2,852 215,548 1,294,337 2,1152 1,081,641 215,548 1,297,189 Unr¢5tri¢ted Funds Restrict¢d Total Funds Funds 2023 Donations to project work Support costs 1,130.504 2,572 269,331 1,399.835 2,572 1,133.076 269,331 1,402,407 The donations to projcct work represL'nt th¢ grants paid to Aquaid LAfelin¢ Malawi, an indcpend¢nt charity based in Malawi which is rcsponsible for th¢ day to day relief work. 14-
Support Malawi Notes to the Financl81 Statements {eoMliwuedJ Year ended 31 August 2024 Expenditure on charitable activlties by aetivity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Donations to projcct work Govcrnance costs 1,294,337 1,294,337 2,852 1,399,835 2,572 2,852 1,294,337 2,852 1,297,189 1,402,407 Auditors remuneratlon 2024 2023 Fees payablc for the audit of thc financial statcments 2,852 2,572 Trustee remuneratlon and exp¢n5ei The trustees rcccived no r¢muncration, bcnefits or claimcd any cxpenscs from the charity. 10. Staff costs No salarics or wagLs were paid to cmployecs, including thc trustecs, during the ycar. 1 l. I'angible fixed as8ets Fixtures and rittlngs Cost At I September 2023 and 31 August 2024 Depreclation At I September 2023 And 31 August 2024 Cxrrylng gmount At 31 August 2024 At 31 August 2023 665 665 12, Debtors 2024 2023 Prepayments and accrued incom¢ 38,180 41,329 15-
Support Malawi Notes to the Financial Statements (co•llnMed) Year ended 31 August 2024 13. Credltors.. &mounts fAlling due Ivithin one year 2024 2023 Trade creditors Accruals and deferred income 2,268 2,977 2,159 2,393 5,245 4.552 14. Analyiis of charitgble fund Unrestri¢ted funds 4t I Scptember 2023 At 31 Au%u$t 2024 Income Expenditure Gen¢ral funds 334,810 1,025,237 (1,081,641) 278,406 4t I Septonber 2022 At 31 August 2023 Incomc Expenditurc Gencral funds 281,983 1,185.903 (1,133,076) 334,810 Restrlcted funds 4t I Scptember 2023 At 31 August 2024 Income Expcnditure Gomani fund Dalitso ProjeLt Mlssion Guidc5 USA BEIT Trust Fund 15,482 380 (15,489) 27,547 110,315 57,289 15,oon (31,829) (110,695) (58,024) (15,000) (215,548) 11,200 (16,224) 373 210,151 {5,024) t I S¢pl¢mber 2022 At 31 August 2023 Incom¢ Expendire Gomani fund Dalitso Projcct Mission Guidcs USA BEIT Trust Fund 13,577 928 1,000 35,186 145,963 42,450 30,600 (33.281) (146.511} (58.939) (30,60Q) (269,331) 15,482 380 (15,489) 15,505 254.199 373 16-
Support Malawi Notes to the Financlal Statements {toNlinued) Year ended 31 August 2024 14. Analysis of charitable funds (copliNued) During the year the charity received a number of donations which were to be passed onto Aquaid Lifeline Malawi to fund specific projects as follows: Th¢ Gomani fund is for thc on-going running of the Philip Veale Children's Centre. The Dalitso pmject is dedicated to the care and financial support of two AquAid Centres - Kambilonjo and Thyolo. The funds are received from various supporters as w¢ll as fund-raising events. Th¢ Mission Guides USA fund (formally "Springlake nd") is for the ongoing monthly rnnning costs of two centrLs in Funsani and LisungwL. Thc nd was showing a deficit at the balanc¢ sheci dat¢ due to the timing of rec¢iving ndS and was subs¢quently r¢stored post year end. The BEIT Trust Fund is dedicated to thc construction of two scmi-d¢tachLd t¢ache¢s houses for Chikowa Secondary School. I S. Analy$i8 of net asseti beliveen funds Unrestrictcd Rcstriclcd Tolal Funds Funds 2024 Currcnt assct8 Creditors Icss than l year 278,627 (221) 278,627 (5,245) (5,024) (5,024) 1¥4et Y4$sets 278,406 273,382 Unrcstrictcd Funds Rcstrictcd Total Funds unds 2023 Tangiblc fixcd asscts Current at>sels Crcditors l¢t•S than l ycar Net Assets 339,362 (4,552) 334,810 373 339,735 (4,552) 335,1113 373 16. Analysis of chan%e$ In net debt At 31 Au% 2024 At I Scp 2023 Cash flows Cash at bank and in hand 298.406 (57,959) 240,447 17. Related partie$ Therc hav¢ been no rclatcd party transactions in the r¢porting period other than donations recciv¢d from trustces without conditions amounlingy to £8,220 {2023: £10,372). 17-