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|ReferenceandAdministrativeDetails of the Company,itlCommittee ofilanagement|1|
|and Advisere||
|Trustees'Report|2-4|
|lndependentExaminey'sReport|5|
|StatementofFinancialActivities|I|
|Balancs$heet|7|
|Notestothe Financial Statements|8-10|





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## **The Markawasi Foundation** 

## **(A Company Limited by Guarantee)** 

## **Trustees' Report For the Year Ended 31 March 2023** 

The committee present their annual report together with the financial statements of the company for the year 1 April 2022 to 31 March 2023. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). 

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. 

## **Objectives and activities** 

## **a. Policies and objectives** 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. 

The object of the foundation is to relieve poverty and to advance education in communities in Central and South America, either directly or indirectly via donations to other charities or church organisations. 

## **Achievements and performance** 

## **a. Review of the year** 

During the year the foundation has continued to make charitable donations to projects in Central and South America. The main projects that have been supported are Solidaridad en Marcha, Fundacion Maria Dignifica, Iglesia Catolica De Honduras and Asociacion Island Friends. All of these help in promoting integral human development, with donations totalling £20,742, £15,557, £10,331 and £41,530 respectively. 

## **Financial review** 

## **a. Going concern** 

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. 

## **b. Reserves policy** 

The foundation does not maintain a reserves policy. Funds are only expended where the foundation has sufficient resources to do so. The total reserves carried forward at 31 March 2023 were £14,646 (2022 - £16,944). No part of these represent a designated or restricted fund. 

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29 September 2023 



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|StatementofFinancialActivitieincorpo<br>FortheYear Endad3{March2023|mtinglncome and ExpenditureAccount|mtinglncome and ExpenditureAccount|||
|---|---|---|---|---|
||Unretricted||Total|Tota!|
|||funds|funds|funds|
||Note|21J.23<br>f|2023<br>c|2422t|
|lncomefrom:|||||
|Donations||86,424|86,424|54,594|
|Totalincome||86,424|86,424|54,594|
|Expenditureon:|||||
|Charitable activities:|||||
|Donationsto institutions||88,{60|88,160|72,W|
|Bank interestandcharges||268|268|24',1|
|Exchangedifference||{2,937}|(2,937)|(1,807)|
|Govemance costs||2,323|2,323|3,O25|
|Support costs<br>Othercharitable activities||908<br>138|908<br>138|'T|
|Totalexpenditure||88,860|88,860|75,107|
|Netexpenditure||{2,436}|(2*361|(20,513)|
|Reconciliation offunds:|||||
|Totalfunds broughtfonrvard||16,944|'t6,944|37,457|
|Netmovementinfunds||(2,4361|{2,f,r6}|(20,513)|
|Totalfundscarriedfonrard||{4,508|14,508|16,944|





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|BalanceSheet<br>Asat 31 March 2023||||||
|---|---|---|---|---|---|
||Note||2A23<br>g||2A22f|
|Current assets||||||
|Cash atbank andin hand||17,076||19,559||
|||17,076||19,559||
|Creditors:amountsfallingduewithin one<br>year|4|{2,568)||(2,615)||
|Netcunentassets|||14508||16,9M|
|Totalnetassets|||14,509||16,944|
|Charityfunds||||||
|Unrestrictedfunds|||{4"508||16,944|
|Totalfunds|||{4,508||16,W|







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||Unrestric{ed|Total|
|---|---|---|
||funds|funds|
||2023|2023|
||E|f|
|lndependentexaminefsfee|2,22A|2,220|
|Other accountancy services|103|103|
||2,323|2,323|
||Unrestricted|Total|
||funds|funds|
||2422<br>e|2422f|
|lndependenteromine/sfee|1,744|1,740|
|Other accountancy services|1,28s|1,285|
||3,025|s,025|



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|Statement offunds-current year||||
|---|---|---|---|
||||Balance at|
||Balance at1<br>April2A22<br>E|lncomef|31ifrarch<br>Expenditure2423<br>8g|
|GeneralFunds -allfunds|16,944|86,424|(88,860114,508|



|||Balance at|Balance at|
|---|---|---|---|
|Balanceat<br>1Apni.2021!|lncome<br>E|31<br>Expenditure<br>EE|March<br> <br>2022|
|37,457|#,594|(75,107)|16,94|



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