HOPE AFRICA - MALAWI OFFICE FUND ACCOUNTABILITY STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 HOPE AFRICA - MALAWI OFFICE FUND ACCOUNTABILITY STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 |Contents|Page| |---|---| |Trustees report|1 - 2| |Accountant's report|3| |Fund accountability statement|4| |Notes to the fund accountability statement|5 - 6| ## TRUSTEES REPORT ## HOPE AFRICA - MALAWI OFFICE ON THE FUND ACCOUNTABILITY STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 ## Aims The aim of this report is to outline how Hope Africa International conducted its financial transactions in terms of Income and Expenditure in conformity with the Charity Commission requirements. The year ending 31 March 2024 saw a continuation of our core projects with no new activities. Due to lack of new projects and lower expenditure, we remained committed to sustaining our existing initiatives while ensuring continued support for our beneficiaries. ## Continued Initiatives ## Education Support Hope Africa International continued to support students at Matindi, ensuring access to quality education. Our sponsorship program remained active, with ongoing support for four (4) students through the provision of essential educational materials and financial assistance. ## Agricultural Projects Hope Africa International maintained our agricultural initiatives, cultivating maize and beans, this year we have added soy beans and ground nuts. We also bought fertilizer for application in the maize field. The yield continued to support the needy and elderly in our community, reinforcing our ongoing commitment to food security. ## Water and Community Support Hope Africa ensured that all the boreholes are serviced and are in operations to ensure we provide Efforts to provide reliable clean and safe water for the local community. - 1 - TRUSTEES REPORT ## HOPE AFRICA - MALAWI OFFICE ON THE FUND ACCOUNTABILITY STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 ## Finances The charity's activities resulted in a total net expenditure of £14,384 for the year. As of the yearend, Hope Africa International held £31,064 in cash at the bank. Due to fewer activities and lower expenses incurred, financial stability improved compared to the previous years. ## Future Plans Moving forward, we remain dedicated to our mission of supporting education, community development, and food security. While no new projects were introduced in the year ending 31 March 2024, we aim to strengthen our existing programs and explore future opportunities to expand our impact. We extend our gratitude to our donors, partners, and community members for their unwavering support, which enables us to continue making a difference in the lives of those we serve. NATIONAL DIRECTOR January 2025 - 2 - ACCOUNTANT'S REPORT TO THE TRUSTEES OF HOPE AFRICA - MALAWI OFFICE ## ON THE FUND ACCOUNTABILITY STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 We have prepared the accompanying fund accountability statement of Hope Africa - Malawi Office which comprise the fund accountability statement for year ending 31 March 2024, and a summary of significant accounting policies and other explanatory information. ## Accountant's responsibility Our responsibility was to prepare the fund accountability statement based on the funding received and expenditure incurred in the year then ended 31 March 2024. We conducted our assignment in accordance with Generally Accepted Accounting Principles. Our exercise involved performing procedures to ensure all transactions and disclosures are included the fund accountability statement. We also considered the Organisation's internal controls to determine whether material misstatement due to fraud or error are in existence. We believe that the fund accountability statement provides sufficient and appropriate evidence of the state of affairs of the organisation's operations in the year ended 31 March 2024. ## Accountant's certification The fund accountability statement which have been prepared in accordance with Generally Accepted Accounting Principles (GAAPs) are hereby being certified to be in agreement with source documents which they have been based on and are free from material misstatements. Edgar Chiwanga (Mr) ## Chartered Accountant 'February 2025 - 3 - HOPE AFRICA - MALAWI OFFICE ## FUND ACCOUNTABILITY STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 |Income
Unspent funds brought forward
Income
7
Total income
Expenditure
Programme costs
8
Administration costs
9
Procure job aids
10
Total expenditure
Unspent funds as at 31 March, 2024
Represented by :
Unspent
Total Funds|2024
£
19,318
26,129
45,448
6,756
6,895
733
14,384
31,064
31,064
31,064|2023
£
29,932
26,637| |---|---|---| |||56,569| |||20,026
13,086
4,139| |||37,251| |||19,318| |||19,318| |||19,318| It is confirmed that no funds were available for the financing of the project other than the receipts detailed above. It is also confirmed that all expenditure was necessary, that funds were utilised efficiently and economically and that the information given conforms with the books and vouchers. ## OVERSEAS DIRECTOR - 4 - HOPE AFRICA - MALAWI OFFICE NOTES TO THE FUND ACCOUNTABILITY STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 ## 1 NATURE OF PROJECT Our vision is a world where everyone has access to safe drinking water; has food to eat every day and has access to education so they can dream and hope for a better future. Our aim is to change one life at a time. ## 2 BASIS OF ACCOUNTING The fund accountability statement is prepared on a cash basis with the inclusion of any year end accruals. As noted in notes 3 and 4 below, revenue and expenditure are recorded when cash is actually received or expended, or items in kind are received. ## 3 INCOME Income solely represents grants received and bank interest. ## 4 EXPENDITURE Expenditure solely represents amounts disbursed in local currency by Hope Africa - Malawi Office Grant. ## 5 GOING CONCERN The project was mainly funded by Hope Africa for the period from 1 April 2023 to 31 March 2024. ## 6 EXCHANGE RATES Funds received were converted at the rate ruling at the date of the transaction. Expenditure was incurred and reported in local currency. The weighted average rate used to report the expenses in British pounds in these financial statements was MK 1988.46/£. - 5 - HOPE AFRICA - MALAWI OFFICE ## NOTES TO THE FUND ACCOUNTABILITY STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 |7
INCOME
Charity funds
Other Income
Total Income
8
Programme costs
Buildings repairs and maintainance
School fees - sponsorship
Farm inputs
volunteer expenses
Items to be distributed
student books and uniform
Teachers wages
Total programme costs
9
Administration costs
Stationery and postage
Communication and Fuel
Utilities
Website designing & subscription
Security
Accountancy fees
Administration allowances
International travelling
Total administration costs
10
Procure job aids
Laptops and Printer
Office Furniture
Vehicle Service
Total Procure job aids costs
Total expenditure|2024
£
26,129
26,129
85
1,807
470
-
-
294
4,100
6,756
568
1,541
2,019
220
1,107
-
1,440
-
6,895
-
-
733
733
14,384|2023
£
26,637| |---|---|---| |||26,637| |||655
7,024
2,900
360
1,579
1,083
6,425| |||20,026| |||1,380
3,233
2,663
680
1,517
400
960
2,253| |||13,086| |||778
468
2,894| |||4,139| |||37,251| - 6-