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← Ripple Africa

2025-05-31-accounts

Company no. 04823686 Charity no. 1103256 OSCR no. SC043082

Ripple Africa Report and Audited Financial Statements 31 May 2025

Ripple Africa

Reference and administrative details

For theyear ended 31 May 2025
Company number 04823686
Charity number 1103256
OSCR number SC043082
Registered office and Whiteleaf Business Centre
operational address 11 Little Balmer
Buckingham
MK18 1TF
Trustees Trustees, who are also directors under company law, who served during
the year and up to the date of this report were as follows:
Geoffrey Furber MBE
Gabrielle Jackson
Charles Knight
Toby Milton
Trevor Ray
Company secretary Pamela Haigh
Bankers Lloyds Bank plc First Capital Bank
Market Square Livingstone Towers
Lighton Buzzard 21 Glyn Jones Road
Bedfordshire Blantyre P/Bag 122 BT
LU7 1EU Malawi
Auditors Godfrey Wilson Limited
Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

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Ripple Africa

Report of the trustees

For the year ended 31 May 2025

The trustees present their report along with the financial statements of the charity for the year ended 31 May 2025.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Ripple Africa is a UK registered charity (1103256 and SC043082) focused on conservation, education and healthcare in Malawi, Africa. Founded in 2003, our mission is:

Ripple Africa’s ethos is “providing a hand UP, not a hand out,” and we work by finding simple solutions to locally identified problems. We are the catalyst helping Malawians to sustainably manage their natural resources community by community.

ABOUT THE TEAM

In the UK, co-founders, Geoff and Liz Furber, have continued to work for the Charity for no pay. We are delighted to report that Geoff and Liz both received MBEs from Princess Anne in December for the work that they have done in Malawi. Pam Haigh is the UK General Manager, Nikki Khoram is Corporate Partnerships Manager and Project Coordinator, Tina Hodges is Data Manager and Claire Blackham is Ripple Africa’s UK Administrator. Our part time Marketing Consultant, Laura Massey returned to work after maternity leave in June 2024. Kaitlin Shendale worked in Malawi for 9 months of the year and remotely during the rainy season as Volunteer and Visitor Coordinator and Project Assistant. In April 2025, Hassan Ashrof joined the UK team as Finance Manager.

In the US, Kay Yoder has continued to manage Ripple Africa, Inc on a voluntary basis. In the last 12 months we have received £40,321 from Ripple Africa, Inc towards our projects.

In Malawi, our Country Director is Force Ngwira, supported by three Senior Environmental Project Managers - Sam Manda, Fish Conservation, Mercy Khaula, Fuel Efficient Cookstoves, Wisdom Nkhambule, Tree Planting - and Morton Banda our Mwaya Manager. At the end of the year, 219 Malawian staff were employed by Ripple Africa, 46.6% female and 53.4% male, and 7,110 local people worked with us on a voluntary or part time basis on our environmental projects.

VOLUNTEERS AND VISITORS

It was a quiet year for volunteers with only two healthcare volunteers. However, over the year, we had 28 visitors, of whom three were children, as during the summer we welcomed a couple of families. Corporates and donors make up the other visitors to Mwaya Beach. We welcomed Aldenham School again for their annual summer trip with four teachers bringing 15 students. This year, we also hosted a group of donors visiting our UNESCO fish conservation project site in Mangochi.

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Ripple Africa

Report of the trustees

For the year ended 31 May 2025

PROJECTS – PERFORMANCE IN 2024/2025 AND FUTURE PLANS

The total number of local community members working on our environmental and agricultural projects, either on a voluntary or part time basis is as follows:

Project Number of
People		 Direct Project
Beneficiaries
Fish conservation 5,214 266,395
Tree Planting 138 50,000
CommunityAgriculture 6 10,000
Forest Conservation 1,180 255,209
Changu Changu Moto 547 638,830
Improved Sweet Potatoes 25 6,490
Total 7,110 1,226,924

Direct beneficiaries of the projects include the families of fishers, tree planting and sweet potato farmers, cookstove beneficiaries and community agriculture club members. Forest conservation beneficiaries are all those living in the Traditional Authority areas surrounding the forests being protected.

ENVIRONMENTAL PROJECTS Fish Conservation

The Fish for Tomorrow project continues to operate in Nkhata Bay, Nkhotakota, Salima, Dedza and Mangochi Districts with funding from several donors including the International Conservation Fund of Canada, UNESCO, Lewin Trust, Fondation Eagle and WildLife Foundation.

District BVCs Supported Breeding Areas Protected
Nkhata Bay 126 36
Nkhotakota 67 12
Salima 109 40
Dedza 16 7
Mangochi 128 38
Total 446 133

The project has continued to move forward, building on past successes with a focus on confiscation of illegal fishing nets and collaboration with fishing community members. In particular, the confiscation of monofilament nets has been a priority and assessments of local shops have been conducted to identify the types of nets being sold and stop the sale of these illegal nets.

Beach Village Committees have continued to protect key Chambo breeding areas and are seeing a marked increase in the number of juvenile fish here. Increases in plant growth and the construction of brush parks made from materials such as tree branches, are offering further protection. Brush parks also deter fishers, as they entangle fishing nets. In several breeding areas that have benefited from extended periods of protection, there is now also a notable increase in numbers of birds, crocodiles and hippos.

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Ripple Africa

Report of the trustees

For the year ended 31 May 2025

All Districts have held meetings with stakeholders and have been monitoring Beach Village Committee performance to ensure that they are carrying out their duties effectively. The revamping and retraining of Beach Village Committee has continued this year and will be an ongoing exercise to ensure that the Committees continue to be active partners for District Fisheries in ensuring that all fishers use legal fishing gear and abide by the bylaws.

We are continuing to recommend the use of the larger meshed Number 12 bunt for Usipa fishers to ensure that only larger Usipa are caught and new District Management Plans have been signed in most Districts.

Funding from UNESCO for protecting Cichlid fish in the Lake Malawi National Park area for a further two year period has been secured and also allows for the introduction of Changu Changu Moto fuel efficient cookstoves in villages within the National Park.

We want to proceed with getting District Fishing Permits introduced in all Districts – this will provide a sustainable income for the project moving forward and District Councils have been generally keen for this new permit system to be introduced. However, forthcoming elections in Malawi in September 2025 have meant that these plans have had to be put on hold for the time being.

Forest Conservation

Our forest conservation projects are continuing in Mzimba and Nkhata Bay Districts.

The Forest Conservation team in Mzimba District primarily works to protect Choma Hill. The area has been lost to illegal charcoal production so as part of their work, Bryne, Hope and Annie work closely with the Forest Conservation Committees and the Forestry Department by supporting them with patrols to confiscate illegal charcoal. Roadblocks are set up in different places within the area, and during 2024, 12 patrols were responsible for the confiscation of 304 bags of charcoal, 212 timber planks, 17 bicycles, 10 illegally cut trees, and two motorbikes.

During the year, the Nkhata Bay South team worked with 65 Forest Conservation Committees, supporting them with forest patrols, firebreak clearing, training and attending Chief meetings to further promote the project to local leaders. They have experienced some challenges including bushfires and people coming to chop down trees or burn them for charcoal. However, the three Umbrella Committees who oversee the 65 Committees are helping to identify anyone carrying out illegal activities and are taking them to the local Chiefs to be fined.

We continue to encourage all of the Forest Conservation Committees to make firebreaks to avoid wildfires getting out of control, and to remove weeds and clear grass which helps to stimulate secondary tree growth. As a result, we are proud to see how well the protected forest areas are regenerating.

We have continued trialling a briquette project. We are working with three groups who make the briquettes using agricultural waste such as rice husks. Collectively, they have made approximately 135,000 briquettes and sell to 60 customers who typically buy the briquettes by the 50kg sack load. They use them to replace wood and charcoal for cooking. The trial continues to look for more efficient way to make the briquettes on a larger scale in another bid to help reduce deforestation. Families using the briquettes for cooking say they are better than charcoal.

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Ripple Africa

Report of the trustees

For the year ended 31 May 2025

Tree Planting

Our tree planting team had yet another busy year supporting 2,715 farmers in Mzimba, Salima and Nkhotakota Districts to build their tree nurseries, fill planting tubes and sow seeds. The farmers cared for the germinated seedlings, prepared their land for planting out, and importantly, planted out their seedlings. This year we welcomed 16 new coordinators, bringing our tree planting team to 43.

In Mzimba District, we have continued to build and nurture relationships with both new and existing farmers. Follow up visits are important to see how the trees are growing, and to provide ongoing training to the farmers including teaching them how to coppice branches which can be used for firewood. Planting out the seedlings at the right time of year is crucial to their survival but it is also important that the farmers plant them out with the right spacing between them and then care for the trees as they grow.

We are delighted that ongoing funding for pine tree planting in Mzimba has been secured this year in the form of a new carbon offsetting project investment. We will be helping farmers plant over two million trees a year and will support them as they grow in the tree nurseries and are planted out.

Our teams in Salima and Nkhotakota Districts supported their farmers and community groups throughout the year to raise various seedlings including Senna Siamea, Mbawa, Mtangatanga and Nsangu tree species. Once planted and well established, these trees will provide a sustainable source of firewood and in the longer term, timber. This project continues to complement our fuelefficient cookstove project which reduces the amount and size of firewood needed for cooking, thereby reducing deforestation and encouraging natural regeneration to take place. Funding for this tree planting project comes from our corporate partnerships.

Challenges faced in each District included unreliable rainfall and poor quality seeds which impacted germination. However, despite these different challenges, 2,866,797 seedlings germinated and have been planted out in the three Districts.

Changu Changu Moto Fuel-Efficient Cookstoves

In October 2024 the project was introduced into Lake Malawi National Park funded by UNESCO. Currently 2,667 cookstoves have been constructed in the 14 villages here. The rainy season has caused a few problems but our team here continues to monitor the villages within the project area to make sure that any cookstoves and kitchens damaged by the rains are quickly repaired.

The 10-year carbon offsetting project in Nkhata Bay District has now come to an end. At Ripple Africa we know that change takes time but after a decade of running the project in the district working closely with households, we are confident that the habit of using the fuel-efficient cookstove will continue long into the future. We are retaining some staff to monitor the project, and all other Coordinators and Managers have been reassigned roles on other Environmental and Agricultural projects.

The new cookstove project in Mzimba, Nkhotakota and Salima funded by investors is progressing well and registration paperwork for the carbon offsetting project is almost completed.

District Project Managers run this project on the ground with the help of eight Area Managers, 27 Coordinators and 481 Community Volunteers. To date, we have helped 127,766 householders to build their own cookstoves.

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Ripple Africa

Report of the trustees

For the year ended 31 May 2025

Future Plans for Environmental Projects

AGRICULTURAL PROJECTS

Fruit Trees, Vegetables and Livestock

The project team worked with 100 Community Clubs to raise 78,471 fruit tree seedlings this year. Although each Club is growing slightly less seedlings than last year, this is partly due to the expansion of the catchment area but also to allow the farmers to have the time to grow both fruit trees and vegetables successfully. We continue to support each Community Club for two years and Maston Mkandawire, who runs the fruit tree and livestock project, works with five Lead Farmers to provide training to the first year Clubs, and support and guidance to those in their second year.

The start of the growing season sees clubs building their nurseries, filling planting tubes, and sowing seeds. The fruit tree varieties include pawpaw, guava, avocado, lemon, orange, tangerine, topi topi (soursop), and tamarind.

Within three Traditional Authority (Senior Chief) areas, we also supported five health clinics and 25 schools. We work with the school Environment Clubs so that the students learn the same skills as the Community Clubs, and each school receives an average of 70 seedlings ahead of the planting out season.

This year the Community Clubs supported 1,651 vulnerable people and their families. Each family received 10 fruit trees this year, and the Clubs, Lead Farmers and Maston ensure that the trees are planted out correctly.

Prior to the planting out season, the team spend time with the Clubs so that members can prepare their orchard sites, dig planting pits, and apply manure and/or biochar to improve soil quality.

This year 70 Clubs were trained to successfully grow vegetables. Each Club receives three packets of seeds to grow, one for their own use and two to sell at local markets. Maston teaches basic business skills to the Clubs, and they then use the money made to purchase 10 one-day-old chicks, feed, and vaccines. At six weeks old, the Club members sell the chickens locally and they re-invest the money to buy more chicks and develop successful livestock businesses. During the year the Clubs raised a combined total of 4,928 chickens.

As time goes on and more money is earned, the Clubs can buy more chicks at a time and eventually expand their farm to include pigs. Eleven Clubs have now started pig farms to further increase their household incomes.

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Ripple Africa

Report of the trustees

For the year ended 31 May 2025

Improved Sweet Potatoes

During the year we worked with 534 male farmers and 735 female farmers to grow improved orange fleshed sweet potatoes. Although it is not uncommon for the farmers to have experience growing sweet potatoes, they are happy to grow the improved varieties of orange-fleshed sweet potato as these are more nutritious and flavoursome.

In August, project coordinator Francis Singini, the Lead Farmers, and Agriculture Extension Officers started working with 29 multiplication farmers on the early establishment of sweet potato vine nurseries. Each year over a million individual sweet potato vines are produced but it is important that quality vines are harvested so that the farmers receiving them have the best chances of growing sweet potatoes. We purchase these vines to share with the next groups of farmers and reimburse the multiplication farmers for their efforts.

Each farmer received 10 bundles of vines and once the vines have been distributed, Francis, the Lead Farmers, and the Agriculture Extension Workers work closely with the farmers to ensure the fields are well prepared and the vines are successfully planted.

While the majority of farmers had a good year, some of the farmers in two areas where we work were affected by drought and others by flash floods. A total of 148 farmers out of 250 in the Chintheche area were affected, and in the Tukombo area there were 169 farmers affected.

We also continue to provide orange-fleshed sweet potato vines to the teachers at our eight preschools. They grow, harvest, and cook the sweet potatoes to earn an additional income. After a busy morning of learning, the children then receive a meal of sweet potatoes and tea. We provide around 150,000 of these school meals each year.

We have distributed vines to multiplication farmers in Mzimba District so that in future, farmers in our pine tree project in Mzimba will be given sweet potato vines to intercrop with their trees in the first few growing years.

Future Plans for Agricultural

EDUCATION PROJECTS

Watson Chirwa is now Ripple Africa’s Education Coordinator and oversees preschools, trainee teachers and library and literacy projects.

Pre-schools

We have 1,146 children registered at our eight pre-schools and 26 teachers provide a safe and engaging place to learn including through play-led activities. In July, we said farewell to 291 of our pre-school children who graduated and started primary school in September. The pre-school teachers made little mortarboards for the children and presented each child with a certificate. Parents were invited to attend and throughout the morning the children demonstrated what they had learnt.

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Ripple Africa

Report of the trustees

For the year ended 31 May 2025

The building team have installed new toilets at Kathenthere Pre-School as the old ones were full, installed new security bars, new storeroom doors, and carried out minor wall and floor repairs at Chitungulu Pre-School, repaired cracks at Mwaya Pre-School and we provided two new toilet doors at Matete 1 Pre-School. We also repainted Chitungulu and Mwaya Pre-Schools.

All Pre-school teachers have received Health and Safety and Safeguarding training and 20 of our pre-school teachers graduated from an Early Childhood Development course. Run by Perivoli Schools Trust alongside the Social Welfare Officer, the teachers have been attending various courses over a three year period focused on eight key learning areas. Watson has been encouraging teachers to visit the other pre-schools to share best practice.

Primary Schools

We continue to fund four trainee teachers at local primary schools to supplement the government teaching staff.

New toilets have been constructed at Mwaya Primary School as the toilets used by the pupils and teachers were damaged badly by heavy rains and as they were long-drop toilets that were nearly full, new toilet blocks were built rather than repairing the existing ones.

Kapanda Community Day Secondary School

With support from Fondation Eagle, we have completed the new double classroom block at the school to alleviate pressure and have provided new textbooks for the school library.

Community Library, Adult Literacy and Children’s Reading Clubs

Throughout the year, 4,706 books were borrowed and 2,737 readers came to the library to read newspapers and books at the library, and we registered 57 new members.

During the year, we were able to purchase 440 new secondary school textbooks, splitting them between the library and Kapanda’s school library. In total, 3,453 textbooks were borrowed, demonstrating the importance of the library to students who have limited access to textbooks at school.

We continue to provide our Adult Education morning classes to ensure Open School students can receive extra lessons ahead of their afternoon lessons at Kapanda Community Day Secondary School. Allamson provides these classes twice a week at Mwaya Community Library and twice a week at Mazembe Primary School. There is an Adult Literacy class on Fridays.

We have continued to run weekly afternoon reading groups in five different villages. The groups are providing an additional learning space to bridge the English-learning gap mainly for those in Standards 1 to 4 at the local primary schools. It is also an opportunity to encourage children to explore books. Each afternoon session is split into four activities including phonics, storytelling, speaking and a game, and across the year we have welcomed 287 students.

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Ripple Africa

Report of the trustees

For the year ended 31 May 2025

Future Plans for Education

HEALTHCARE PROJECTS

Disabilities and Rehabilitation

Loveness is now working with 2,450 children and young adults and our group sessions are a thriving place for clients to receive therapy and reviews, and parents and guardians to be part of a supportive environment so that no-one feels alone.

Sixty two new clients were referred to the project during the year, 39% of our clients are female and the average age remains at 11 years old. The number of clients relying on nutritional support has reduced from 15% to 13%, and 42% of our clients are not walking.

Throughout the year, we continued to refer clients to Mzuzu Central Hospital’s Prosthetics and Orthotics Centre for prosthetic limbs and other bespoke equipment such as splints. We also referred nine clients for specialist operations and a further 16 were seen by specialists to check up on their progress at various hospitals across Malawi.

We received three wheelchairs from a partner organisation, MAP, and replaced inner tubes and repaired another six wheelchairs. Standing frames and corner seats were among the items made by our local carpenters.

Loveness ran four awareness raising sessions at local schools to help teachers understand how to integrate children with disabilities into their classes. By the end of 2024, 19 children on the project were attending either a local pre-school or primary school.

Loveness also worked with Maston, our Fruit Tree Project Manager, to ensure that 85 clients, and their families, received fruit trees.

Family Planning and Sexual Health

Despite Watson’s move to manage Education projects, it has been a productive year for the Family Planning, Sexual Health and Life Skills team.

As families move around in Malawi in search of jobs, better farmland and a better life, we have met new people at the community meetings such as the Under 5s clinics, village banks, etc. Both men and women have set up their own groups to meet with Rebecca and Watson to learn more about topics such as family planning, sexual health, finance, and the impact of Malawi’s growing population. This year we carried out random sampling to gain an insight into the lives of our club members. We spoke with 25 members aged between 23 and 57 years old.

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Ripple Africa

Report of the trustees

For the year ended 31 May 2025

Watson and Rebecca have visited students from Standard 5 to Standard 8 at primary schools and also at local secondary schools. With students who are in Standard 5 at the start of the 2024/25 academic year, we carried out the usual introductory session which includes learning about Malawi’s increase in population, the impact of family size on costs, and general discussions on family size. As shared in our 2023/24 report, through the Life Skills classes, we discovered that there were girls seeking funds for their sanitary products in dangerous ways so sought funding to introduce a pilot menstrual cup project.

A Ruby Cup recommended trainer, Lucy Nkhoma, trained Rebecca to deliver menstrual cup training to students and we have been able to provide menstrual cups to 250 girls in Standard 7 in six Primary Schools, and to Form 2 and Form 3 students at Kapanda Secondary School. Rebecca has carried out repeat visits during the current academic year and the feedback gathered has enabled us to monitor the progress and success of the project and plan for the next phase of the project.

The first follow-up was in September 2024 when the girls returned to school, and we found that 80% of the girls are still using their menstrual cups, and they like the fact that they are saving money, the cups’ reliability, the lack of odour and the convenience of the cups.

We have received funding to expand the pilot project to reach a further 1,500 school girls and 1,000 women. The first training session with women in the community took place in April.

Repairs to boreholes and shallow wells

This year, with support from Guernsey Overseas Aid, Fondation Eagle and Bjorgaas Foundation, we have repaired a further 249 boreholes in Salima District. Heavy rains and rising prices affected this project, but the repairs have now all been successfully carried out and the beneficiaries are delighted to now have clean safe water near their homes again.

We received funding from Bjorgaas Foundation to repair a further 42 boreholes in Nkhata Bay District which will be carried out during the next financial year.

Future Plans for Healthcare

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Ripple Africa

Report of the trustees

For the year ended 31 May 2025

FINANCIAL REVIEW

Income

A full set of accounts are included within our Annual Report below and confirm that our total income for the year was up by £206,330 compared to the previous year to £2,774,619 (2024: £2,568,289). Our unrestricted funds increased to £1,572,803 and our restricted funds increased to £177,293.

Expenditure

The total expenditure for this year was £2,063,252 (2024: £2,031,662). As a percentage of income, this was 61% compared to 79% in the previous year resulting in the increase in funds for the year of £711,367.

Reserves

The core budgets set for 2025/26 are designed to achieve a balanced budget on the year with the aim of maintaining our current projects and expanding as and when we can afford to do so. Our policy is to maintain funds at a level which ensures that the charity can continue to provide its projects in Malawi, meet all its obligations to its staff and other stakeholders and carry through its strategic plans. In view of Ripple Africa’s dependence on its own fundraising efforts, the Trustees consider it prudent that a minimum of six months’ expenditure should be held in free reserves (general funds excluding fixed assets). This corresponds to a target of approximately £1.6m based on the 2025/26 budget. At 31 May 2025, the charity held restricted funds of £177,293 (2024: deficit of £44,076), and unrestricted funds of £1,572,803 (2024: £1,082,805), of which £1,195,401 were free reserves, falling short of the target level. The Trustees ensure that the reserves are monitored periodically and keep the reserves policy under regular review, and expect activities in 25/26 to generate sufficient unrestricted income to bring free reserves closer to the target level.

FUNDRAISING

The Charity undertakes online activities in terms of fundraising including digital marketing and campaigns including match funding, Christmas and volunteer campaigns. No fundraising activities were carried out by either a professional fundraiser or commercial participator. The Charity is registered with the Fundraising Regulator and adheres to the standards of the Fundraising Code of Practice. There have been no complaints about fundraising activity this year.

Ripple Africa work with a digital marketing company for advice and to manage our Google accounts and Meta advertising.

During all online fundraising activities, Ripple Africa respects the privacy and contact preferences of donors, ensures communication is empathetic and considerate and ensures all fundraising activities are legal and ethical. Our Privacy Policy is included on our website.

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Ripple Africa

Report of the trustees

For the year ended 31 May 2025

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditors

Godfrey Wilson Limited were appointed as auditors to the charitable company during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 16 December 2025 and signed on their behalf by

==> picture [93 x 34] intentionally omitted <==

Geoffrey Furber MBE - Trustee

12

Independent auditors' report

To the members and the trustees of

Ripple Africa

Opinion

We have audited the financial statements of Ripple Africa (the 'charity') for the year ended 31 May 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 7 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

13

Independent auditors' report

To the members and the trustees of

Ripple Africa

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

14

Independent auditors' report

To the members and the trustees of

Ripple Africa

Our responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level 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 considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.

(2) We reviewed the charity’s policies and procedures in relation to:

(3) We inspected the minutes of trustee meetings.

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:

15

Independent auditors' report

To the members and the trustees of

Ripple Africa

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s members, as a body, in accordance with Chapter 3 of part 16 of the Companies Act 2006, and to the charity’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity, the charity's members as a body and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

==> picture [62 x 27] intentionally omitted <==

Date: 16 December 2025

Robert Wilson FCA

(Senior Statutory Auditor)

For and on behalf of:

GODFREY WILSON LIMITED

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

16

Ripple Africa

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 May 2025

Restricted
Note
£
Income from:
Donations and legacies
3
1,330,511
Charitable activities
4
-
Investments
-
Other trading income
-
Total income
1,330,511
Expenditure on:
Raising funds
-
Charitable activities
1,169,655
Total expenditure
6
1,169,655
Net income / (expenditure)
7
160,856
Transfers between funds
60,513
Net movement in funds
221,369
Reconciliation of funds:
Total funds brought forward
(44,076)
Total funds carried forward
177,293		 Unrestricted
£
197,447
1,240,528
5,578
555
1,444,108
224,010
669,587
893,597
550,511
(60,513)
489,998
1,082,805
1,572,803		 2025
Total
£
1,527,958
1,240,528
5,578
555
2,774,619
224,010
1,839,242
2,063,252
711,367
-
711,367
1,038,729
1,750,096		 2024
Total
£
1,809,674
753,445
5,170
-
2,568,289
150,720
1,880,942
2,031,662
536,627
-
536,627
502,102
1,038,729

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 15 to the accounts.

17

Ripple Africa

Balance sheet

As at 31 May 2025

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
12
Net current assets
Net assets
14
Funds
15
Restricted funds
Unrestricted funds
Designated funds
General funds
Total charity funds		 £
70,471
1,959,037
2,029,508
(656,814)		 2025
£
377,402
1,372,694
1,750,096
177,293
-
1,572,803
1,750,096		 2024
£
293,106
38,126
721,567
759,693
(14,070)
745,623
1,038,729
(44,076)
-
1,082,805
1,038,729

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 16 December 2025 and signed on their behalf by

==> picture [125 x 35] intentionally omitted <==

Geoffrey Furber MBE - Trustee

18

Ripple Africa

Statement of cash flows

For the year ended 31 May 2025

Cash flows from operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
Loss on the sale of fixed assets
Increase in debtors
Increase in creditors
Changes in long term loans
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of tangible fixed assets
Proceeds from sale of tangible fixed assets
Net cash used in investing activities
Increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2025
£
711,367
71,131
(5,578)
2,231
(32,345)
642,744
-
1,389,550
5,578
(162,357)
4,699
(152,080)
1,237,470
721,567
1,959,037		 2024
£
536,627
85,722
(5,170)
2,680
(19,608)
7,360
(100,000)
507,611
5,170
(148,705)
-
(143,535)
364,076
357,491
721,567

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

19

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

1. Accounting policies

a) General information and basis of preparation

Ripple Africa is a charitable company limited by guarantee registered in England and Wales. The registered office address is Whiteleaf Business Centre, 11 Little Balmer, Buckingham, MK18 1TF.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Ripple Africa meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

d) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

20

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

1. Accounting policies (continued)

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of resources and floor space occupied by each activity as follows:

ws:
2025 2024
Raising funds 40.0% 40.0%
Charitable activities 60.0% 60.0%

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Buildings 25 years straight line
Furniture and equipment 3 years straight line
Motor vehicles 25% reducing balance
Other tangible fixed assets 3 years straight line

Items of equipment are capitalised where the purchase price exceeds £1,000.

j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

21

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

1. Accounting policies (continued)

l) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m) Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

n) Pension costs

The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

o) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.

p) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements is depreciation as described in note 1(i) above.

22

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

2. Prior period comparatives: statement of financial activities

Income from:
Donations and legacies
Charitable activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
3.
Income from donations and legacies
Donations and gift aid
Grants
Total income from donations and legacies
Prior period comparative:
Donations and gift aid
Grants
Total income from donations and legacies
Net income / (expenditure) and net movement in
funds		 Restricted
£
£
1,316,213
493,461
-
753,445
-
5,170
1,316,213
1,252,076
-
150,720
1,625,118
255,824
1,625,118
406,544
(308,905)
845,532
Restricted
£
£
386,647
158,317
943,864
39,130
1,330,511
197,447
Restricted
£
£
906,615
493,461
409,598
-
1,316,213
493,461
Unrestricted
Unrestricted
Unrestricted		 2024
Total
£
1,809,674
753,445
5,170
2,568,289
150,720
1,880,942
2,031,662
536,627
2025
Total
£
544,964
982,994
1,527,958
2024
Total
£
1,400,076
409,598
1,809,674

23

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

4. Income from charitable activities

Income from charitable activities
Carbon credits
Contracts
Total income from charitable activities		 2025
Total
£
66,603
1,173,925
1,240,528		 2024
Total
£
66,400
687,045
753,445

All income from charitable activities in the current and prior year was unrestricted.

5. Government grants

The charitable company receives government grants, defined as funding from The State of Guernsey and UNESCO to fund charitable activities. The total value of such grants in the period ending 31 May 2025 was £171,130 (2024: £125,476). There are no unfulfilled conditions or contingencies attaching to these grants in either the current or prior year.

24

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

6. Total expenditure

Total expenditure
Environment
Motor expenses
Wages and salaries Malawi (note 8)
Wages and salaries UK (note 8)
Travel & subsistence
Office expenses
Health
Buildings
Marketing, advertising and website
Depreciation
Education
Telephone and fax
Governance costs
Fundraising costs
Bank charges
Loss on sale of fixed assets
Foreign currency gain
Sub-total
Allocation of support and governance costs
Total expenditure		 Raising funds
£
-
-
-
67,761
-
-
-
-
80,127
-
-
-
-
10,876
-
-
-
158,764
65,246
224,010		 Charitable
activities
£
619,115
336,971
325,368
44,157
104,545
-
89,385
82,221
-
71,131
36,339
29,910
-
-
-
2,231
-
1,741,373
97,869
1,839,242		 Support and
governance
£
-
-
-
51,260
54
91,746
-
-
-
-
-
-
21,906
-
7,291
-
(9,142)
163,115
(163,115)
-		 2025 Total
£
619,115
336,971
325,368
163,178
104,599
91,746
89,385
82,221
80,127
71,131
36,339
29,910
21,906
10,876
7,291
2,231
(9,142)
2,063,252
-
2,063,252

Total governance costs were £21,906 (2024: £11,939).

25

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

6. Total expenditure (continued) Prior period comparative

Prior period comparative
Environment
Wages and salaries Malawi (note 8)
Motor expenses
Wages and salaries UK (note 8)
Projects
Depreciation
Health
Buildings
Education
Marketing, advertising and website
Office expenses
Travel & subsistence
Governance costs
Fundraising costs
Bank charges
Training
Foreign currency gain
Sub-total
Allocation of support and governance costs
Total expenditure		 Raising funds
£
-
-
-
76,516
-
-
-
-
-
40,839
-
-
-
11,132
-
-
-
128,487
22,233
150,720		 Charitable
activities
£
749,990
333,487
328,740
43,784
95,403
85,722
84,405
59,884
42,279
-
-
23,898
-
-
-
-
-
1,847,592
33,350
1,880,942		 Support and
governance
£
-
-
-
22,448
-
-
-
-
-
-
40,240
689
11,939
-
5,383
93
(25,209)
55,583
(55,583)
-		 2024 Total
£
749,990
333,487
328,740
142,748
95,403
85,722
84,405
59,884
42,279
40,839
40,240
24,587
11,939
11,132
5,383
93
(25,209)
2,031,662
-
2,031,662

26

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

7. Net movement in funds

This is stated after charging:

Depreciation
Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Auditors' remuneration (excluding VAT):
Statutory audit
Other services		 2025
£
71,131
24,480
Nil
6,152
8,600
5,876		 2024
£
85,722
19,360
Nil
2,594
8,000
-

Trustees' reimbursed expenses relate to travel, subsistence and accomodation for one trustee (2024: one trustee).

In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements and submission of tax returns. Our auditors also provided consultancy services during the financial year.

8. Staff costs and numbers Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 2025
£
444,896
9,584
34,066
488,546		 2024
£
426,148
18,188
31,899
476,235

No employee earned more than £60,000 during the current or prior year.

The key management personnel of the charitable company comprise the Trustees. The total employee benefits of the key management personnel were £nil (2024: £nil).

Average head count:
UK staff
Malawian staff		 2025
2024
No.
No.
4
4
216
220
220
224

27

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

9. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

10. Tangible fixed assets

Cost
At 1 June 2024
Additions in year
Disposals
At 31 May 2025
Depreciation
At 1 June 2024
Charge for the year
On disposals
At 31 May 2025
Net book value
At 31 May 2025
At 31 May 2024		 Land and
buildings
£
84,560
-
-
84,560
32,267
2,950
-
35,217
49,343
52,293		 Furniture
and
equipment
£
5,845
8,778
-
14,623
4,874
1,717
-
6,591
8,032
971		 Motor
vehicles
£
512,196
153,579
(45,776)
619,999
272,354
66,464
(38,846)
299,972
320,027
239,842		 Other
tangible
fixed
assets
£
9,340
-
-
9,340
9,340
-
-
9,340
-
-		 Total
£
611,941
162,357
(45,776)
728,522
318,835
71,131
(38,846)
351,120
377,402
293,106

28

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

11. Debtors

Trade debtors
Prepayments
Accrued income
Other debtors		 2025
£
43,952
3,128
1,858
21,533
70,471		 2024
£
-
3,792
34,334
-
38,126

The charity provides interest-free loans to staff, repayable by deduction from salary over an agreed period. At 31 May 2025 the balance outstanding was £14,406 (2024: £Nil) which are included in other debtors. No amounts were written off and all loans are expected to be repaid within two years.

12. Creditors: amounts falling due within 1 year

Trade creditors
Deferred income (note 13)
Accruals
Other taxation and social security
Other creditors		 2025
£
13,249
631,724
11,841
-
-
656,814		 2024
£
-
-
9,851
1,922
2,297
14,070

13. Deferred income

At 1 June
Deferred during the year
Released during the year
At 31 May		 2025
£
-
631,724
-
631,724		 2024
£
-
-
-
-

Deferred income relates to contract income received in advance of project delivery.

29

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

14. Analysis of net assets between funds

Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 May 2025
Prior period comparative
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 May 2024		 £
-
177,293
-
177,293
£
-
(44,076)
-
(44,076)
Restricted
funds
Restricted
funds		 £
377,402
1,852,215
(656,814)
1,572,803
£
293,106
803,769
(14,070)
1,082,805
General
funds
General
funds		 Total
funds
£
377,402
2,029,508
(656,814)
1,750,096
Total
funds
£
293,106
759,693
(14,070)
1,038,729

30

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

15. Movements in funds

Movements in funds
Restricted funds
Boreholes
Building
Changu
Education
Fish
Fish Unesco
Growing the Future
Health
Tree and Forest
Total restricted funds
Unrestricted funds
Designated funds:
Building
Changu
Total designated funds
General funds
Total unrestricted funds
Total funds		 At 1 June
2024
£
(26,840)
(15,455)
(121,283)
28,343
33,777
-
47,433
(12,129)
22,078
(44,076)
-
-
-
1,082,805
1,082,805
1,038,729		 Income
£
136,753
-
64,340
36,953
559,569
113,243
29,288
50,302
340,063
1,330,511
-
-
-
1,444,108
1,444,108
2,774,619		 £
(109,563)
-
-
(66,115)
(490,376)
(97,989)
(49,531)
(42,593)
(313,488)
(1,169,655)
(70,240)
(540,667)
(610,907)
(282,690)
(893,597)
(2,063,252)
Expenditure		 £
(350)
15,455
56,943
819
(2,556)
(7,278)
-
4,420
(6,940)
60,513
70,240
540,667
610,907
(671,420)
(60,513)
-
Transfers
between
funds		 £
-
-
-
-
100,414
7,976
27,190
-
41,713
At 31 May
2025
177,293
-
-
-
1,572,803
1,572,803
1,750,096

Purposes of restricted funds

Boreholes

We work closely with District Councils to repair broken boreholes to provide communities with clear water.

Building

Large building projects.

Changu

We introduced a fuel-efficient cookstove to provide a safer and more sustainable alternative to the traditional three-stone fire. These are locally known as the Changu Changu Moto which translates to Fast Fast Fire.

Education

To improve local education in Malawi, we run eight pre-schools, support six primary schools and a secondary school. We also run Children’s Reading Clubs and Adult Education classes, and a community library in and around the community of Mwaya, in Nkhata Bay District.

31

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

15. Movements in funds (continued) Purposes of restricted funds (continued)

Fish To address the problem of over-fishing, we started fish conservation in 2011 in Nkhata Bay District of Malawi. We developed a simple approach which we trialled along a 40 km area of lakeshore in the District. It was so successful that more communities wanted this approach and we are now working in five Districts and protect 736km of lakeshore.

Fish Unesco Fish conservation project in Lake Malawi funded by UNESCO.

Growing the Future Through our Agriculture teams we are supporting families to grow improved orange-fleshed sweet potatoes, a variety of fruit trees as well as create sustainable farming businesses. We share simple techniques which get effective results and grow the futures of communities in Malawi.

Health To improve local healthcare in Malawi, Africa, we run a disabilities and rehabilitation project supporting over 180 children and their families. We also run a family planning and sexual health project.

Tree and Forest As a result of deforestation in Malawi we run a tree planting project which is one of the largest and most successful tree planting projects in Malawi, with about two million trees planted each year. We also run a forest conservation project to enable the local communities to protect their forests.

Purposes of designated funds

Building As above.

Changu As above.

Transfers

Transfers between funds relate to funds transferred into restricted funds to cover expenditure greater than restricted income, along with purchase of fixed assets using restricted funds. Transfers from general to designated funds represent additional costs of running the projects.

32

Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

15. Movements in funds (continued) Prior period comparative

Restricted funds
Boreholes
Building
Changu
Education
Fish
Growing the Future
Health
Tree and Forest
Total restricted funds
Unrestricted funds
Designated funds
Total designated funds
General funds
Total unrestricted funds
Total funds		 At 1 June
2023
£
22,618
4,993
87,379
18,603
56,988
35,221
1,969
37,058
264,829
37,798
37,798
199,475
237,273
502,102		 Income
£
27,618
57,273
315,010
82,905
546,313
71,060
9,790
206,244
1,316,213
-
-
1,252,076
1,252,076
2,568,289		 £
(77,076)
(77,721)
(523,672)
(73,165)
(569,524)
(58,848)
(23,888)
(221,224)
(1,625,118)
-
-
(406,544)
(406,544)
(2,031,662)
Expenditure		 £
-
-
-
-
-
-
-
-
-
(37,798)
(37,798)
37,798
-
-
Transfers
between
funds		 £
(26,840)
(15,455)
(121,283)
28,343
33,777
47,433
(12,129)
22,078
At 31 May
2024
(44,076)
-
-
1,082,805
1,082,805
1,038,729

16. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 2025
£
24,480
67,320
91,800		 2024
£
24,480
91,800
116,280

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Ripple Africa

Notes to the financial statements

For the year ended 31 May 2025

17. Related party transactions

Geoffrey Furber and Gabrielle Jackson, trustees, are also directors of Vimiti Limited (08412595). Under a profit sharing agreement, Ripple Africa was entitled to proceeds from the sale of carbon credits owned by Vimiti Limited. This amount totalled £26,641 (2024: £66,400), no amounts were outstanding relating to these transactions at the end of either period.

In addition to the above, Vimiti Limited made donations of £136,603 (2024: £99,600) to Ripple Africa. No amounts were outstanding at the end of either period.

Geoffrey Furber, trustee, is the founder of aZtec Commercial Cleaning, and was the Managing Director until October 2024. During the year the charity received donations of £8,000 from aZtec Commercial Cleaning (2024: £nil). There was no amount outstanding at the end of the period.

Trustee aggregate unrestricted donations for the year ending 31 May 2025 were £3,576 (2024: £11,373).

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