## **Finance - Notes on Malawi Orphan Accounts for Financial year 1st Mar 2023 – 29th Feb 2024** Please see attachments “Accounts overview as of 29th Feb 2023” and “End of Year 2023-24 Accounts” In total we have had an income of £109,379 (£40,771 Unrestricted and £68,608 Restricted / Designated Funds) and an expenditure of £113,807 (£46,779 Unrestricted and £67,028 Restricted / Designated Funds). We started the financial year with £36,000 in Barclays bank and have ended the year with £31,573 in the bank. ## **INCOME** This year the unrestricted income has come from mainly from child sponsorship, £23,440, a number of oneoff donations to general funds from various churches, £14,936, and the Gift Aid we are able to reclaim on these donations, £1407 kept in general funds, the balance used to top up the Disaster Designated Fund. In addition we had a second Mission Lunch at Christ Church Bedford, £628 and additional received £252 of Gift Aid from the previous lunch donation. Online shopping via sites such as GiveAsYouLive and EasyFundRaising has contributed £111. Since 1st March 2023 there have been several donations to restricted funds, for instance providing bursaries for those students accepted into a Malawi State University, £4,633. Other donations have been made to explicitly help with staff house construction, setting up of a HoH staff loan facility, Fish farm pilot project, with the balance to be held for future project, income of £18,537. Most recently our 2023 Christmas Project of Food Security for the HoH resulted in donations of £5,115. The largest income has been for the 2023 Malawi trip, £23,214 with £10,000 from Sheff Med and the balance raised by the trip members. These funds are for items requested by the HoH, Primary & Secondary Schools and VTC. We have also received donations which has been placed in a designated fund for Disaster Relief, together with gift aid from child sponsorship and general income to help maintain the value of this fund, total income £15,415. Looking at where donations come from, in this financial year of the: £14,936 received into general funds £7,397 has been donated by Churches. £23,440 received for child sponsorship, £1,440 from Churches/Groups & £1200 from business £23,214 received for the Malawi 2023 trip, £10,000 came from business £15,415 designated as Disaster Fund, £3,503 came from Churches and Groups ## **EXPENDITURE** We have been able to send grants to the Home of Hope from our Unrestricted Funds totalling £34,371 with costs of £47.50 in UK based transfer fees. In addition, from our income under general funds, we have sent £3,000 to help with HoH debts, £5,429 from St Paul’s Church, Jersey, £47 to buy a data bundle for the HoH so they can send us high quality photos and videos, and £76 towards truck repairs in February 2023. The other expenditure from Unrestricted funds, £3,929 total, has been £1,333, raised at Christ Church Bedford Mission Lunch in January 2023, to part fund repairs to the Farm road after flooding, £626 raised at Christ Church Bedford Mission Lunch in February 2024 to help buy maize, £1,400 for plumbing works at the Girls VTC hostel and £450 for medical supplies debt, Additional money from restricted funds was also transferred to the Home of Hope, sent with grants where possible, to minimise fees taken in Malawi. During this financial year, at Lucy Chipeta’s suggestion, we transferred money to the Home of Hope via Victoria Forex in Lilongwe as they give a better rate of US dollar to Malawi Kwacha conversion. We have also changed to sending grants monthly rather than quarterly to better help the Home of Hope with cash flow. Our greatest expenditure from Restricted funds was £23,512, raised by the team who visited the HoH in July 2023 and a large donation from SheffMed. This was used to buy many science related items for the Home of Hope Secondary School, tools for the VTC courses, medical supplies for the clinic, footballs and basket ball nets, Maths equipment for all students and printer toner cartridges. The balance was taken out in US dollars to be spent in Malawi on the refurbishment of the Primary schools classrooms and other needs. We continued the exciting scheme of funds as university bursaries to help students with their subsistence and travel costs. During 2023-24 we sent £5,075 for this along with taking out a number of laptops for these students, which were refurbished within the expenditure of the Malawi 2023 trip. We were able to use the Disaster fund to quickly send funds, £16,530 total, enabling the Home to buy maize and beans, giving them food security for a few months. Along with sending them the £5,115 raised at Christmas 2023 for Food security. During this financial year we have helped the Home of Hope with repairs to their farm road after flooding, £467 and maintenance & repairs to their truck, previously purchased with MOF donations, £1,718, both coming from the Farm and Truck headings. We also transferred £6,900 to fund the completion of two teaching staff houses, £795 to fund the final fees for young women at Nursing College, £508 to provide a celebration Christmas meal, £235 to the digging of 2 wells at the macadamia tree orchard at their farm and £2,387 to be used for Admin Staff loans. This will enable them to grow some of their own food and each will have a repayment deducted from their monthly salary to repay the loan within 12 months. The hope is to continue this scheme and possibly to widen to more staff at the Home of Hope. A Fish Farm pilot project is ongoing and £1,992 has been transferred during this financial year to assist this, along with funds to help convert an uncompleted VTC building into a Hostel for the male VTC students due to the previous hostel becoming structurally unsafe, £1,417 from Buildings Maintenance and £79 from the Disaster Fund. Additionally £300 has been sent to buy baby milk and bottles. As of 29[th] February 2024, there is £8,275 in unrestricted funds and £23,298 across the restricted & designated funds in our bank account, total £31,573. During the past year I have kept our financial records up-to-date, recommended the amount we could send as a grant or for other Home of Hope needs and issued accounts overview for each Malawi Orphan Fund meeting. In addition, I have set up the bank transfers from Barclays to Global Web Pay, who then transfer the money to the Home of Hope’s US Dollar bank account and latterly to Victoria Forex in Malawi. Many thanks to everyone for second signing the bank transfers so promptly! There is still an amount of Gift to claim on child sponsorship and various donations which will show in the 2023-24 financial accounts. Ruth Janes 30/05/2024 Accounts overview as of 28th Feb 2024 Malawi Orphan Fund Accounts Overview Balance @ start FY23-24 Of which Position as income from of 29102124 Churches I Grou Non restricted Income Spend Of which income from Businesses to alloc General onsorshi Grft￿ds onsorshi Mone Transfer fees Grarrts fundraisin osta e & statione Trustee e nses funds raised b sho C Gid's hostel Clinic Char Runnin 2023 Christ Church miss￿￿ Lunch 29/1r23 2024 Christ Church MissK)n Lunch Feb 2024 are1 14.936 23.440 19,585 23.440 7397 1.440 1.200 & General 48 ex nses online 111 111 1.400 450 450 nses 1,081 252 626 1.333 626 123 46,779 TOTAL 14,282 40,771 8,275 8.837 1.200 Restricted l Designated Fund name Balance @ start FY23-24 Position as ¢)f as ¢)f 2910W24 Of which income from Churches I Grou 2.503 Of which income from Businesses Income Spend Disaster Fund desi nated Farm l Tractor Pro ects Truck Milk Protecbon for Educat Univers Bursanes Buildin Maintenance Christmas 2023 Foc*Y Secu Fish Nuts tbc Malabvi 2023 tri fvndraisin Staff HousesLoans/Well ... D Francis fund-raisi Sheff Med Pro ects arel 10450 15.415 969 250 375 16.609 1.935 250 300 9256 20 120 4.633 5.075 1.417 5.115 1_992 23.512 10.825 1417 5.115 6.037 23.214 12.500 2450 297 6496 10.000 TOTAL 21.719 68,608 67,028 23.298 2.503 10.000 TOTAL 36.001 109,379 113,807 31,573 11.340 11,200 **----- Start of picture text -----**
£252 Non restricted income
£111
£1,407 £626
£14,936
£23,440
**----- End of picture text -----**
General Sponsorship Gift Aid Sponsorship & General funds raised by shopping online 2023 Christ Church Mission Lunch 29/1/23 2024 Christ Church Mission Lunch Feb 2024 ## **Restricted / Designated Income** Disaster Fund (designated) Farm / Tractor Projects **----- Start of picture text -----**
Truck
£12,500
£15,415 Milk
£969
£250 Protection for Education
£375
University Bursaries
£100
£4,633
Christmas 2023 Food Security
£23,214
£5,115
Fish Nuts tbc
£6,037
Malawi 2023 trip fundraising
**----- End of picture text -----**
Christmas 2023 Food Security Malawi 2023 trip fundraising Staff Houses/Loans/Well … ## **End of Year 2023-24 Accounts** **----- Start of picture text -----**
|||||| |---|---|---|---|---| |Charity Name:|Charity Number:| |ee|Malawi Orphan Fund|1,110,640| |Receipts and payments accounts| |Period start date|Period end date| |For the period from|To| |01 March 2023|29 February 2024| |Section A Receipts and payments| |Unrestricted|Restricted /|Total funds|Total funds| |funds|Designated funds|2023-24|2022 -23| |Receipts|to the nearest £|to the nearest £|to the nearest £|to the nearest £| |Child Sponsorship Contributions|23,440|23,440|21,165| |po||| |General Donations|14,936|14,936|11,573| |po||| |Gift Aid Sponsorship & General|1,407|1,407|4,053| |Pp||| |Funds raised by shopping online|111|111|91| |po||| |World Walk|-|-|63| |po||| |2023 Christ Church Mission Lunch Jan 2023|252|252|1,081| |ee||| |2024 Christ Church Mission Lunch Feb 2024|626|626|-| |po||| |Farm / Tractor Projects|969|969|1,063| |Pp||| |Truck|250|250|4,000| |Pp||| |Disaster Fund|15,415|15,415|17,000| |pO||| |University Bursaries|4,633|4,633|7,614| |po||| |Milk|375|375|1,838| |pO||| |Staff Houses / Loans / Well / etc|12,500|12,500|-| |po||| |Protection for Education|100|100|20| |pO||| |Christmas 2023 Food Security|5,115|5,115|-| |po||| |Malawi 2023 trip fundraising|23,214|23,214|297| |pO||| |Sept 2022 HoH visit|-|-|4,205| |pO||| |Fish Nuts tbc|6,037|6,037|2,451| |Pp||| |Christmas 2022 Sleep safe, sleep well|-|-|1,162| |pO||| |Christmas 2021 GA|-|-|48| |ee||| |VTC Staff Houses|-|-|10,000| |pO||| |D Francis fundraising|-|-|-|1,850| |Pp||| |Sub total|40,771|68,608|109,379|89,573| |a| |Asset and investment sales, etc.|-|-|-|-| |ee|||ee|||ee| |40,771|68,608|109,379|89,573| |Total receipts| |ee||||||| **----- End of picture text -----**
|**Payments**||**Unrestricted**
**funds**
**to the nearest £**|**Restricted /**
**Designated funds**
**to the nearest £**|**Total funds**
**2023-24**
**to the nearest £**|**Total funds**
**2022 -23**
**to the nearest £**| |---|---|---|---|---|---| |Grants to Mchinji Children's Home, Malawi
(Home of Hope)||**- 34,371**
**- 8,552**
**- 48**
**- 1,400**
**- 450**
**- 1,333**
**- 626**||**- 34,371**|**- 29,040**
**- 5,559**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**- 3,440**
**- 4,000**
**- 6,550**
**- 1,544**
**- 5,815**
**- 1,000**
**- 1,000**
**-**
**-**
**-**
**-**
**- 893**
**- 48**
**- 4,205**
**- 1,162**
**- 10,000**
**- 4,000**
**- 1,850**| |General Expenses||||**- 8,552**|| |Trustees' Expenses (see note 2)|||**-**|**-**|| |Postage and Stationery (see note 3)|||**-**|**-**|| |Fundraising Expenses (see note 4)|||**-**|**-**|| |Charity Running Expenses|||**-**|**-**|| |Money Transfer fees|||**-**|**- 48**|| |VTC Girl's hostel||||**- 1,400**|| |Clinic||||**- 450**|| |2023 Christ Church Mission Lunch Jan 2023||||**- 1,333**|| |2024 Christ Church Mission Lunch Feb 2024||||**- 626**|| |Farm / Tractor Projects|||**- 1,935**|**- 1,935**|| |Truck|||**- 250**|**- 250**|| |Disaster Fund|||**- 16,609**|**- 16,609**|| |Science|||**-**|**-**|| |University Bursaries|||**- 5,075**|**- 5,075**|| |Building Maintenance|||**- 1,417**|**- 1,417**|| |Milk|||**- 300**|**- 300**|| |Staff Houses / Loans / Well / etc|||**- 10,825**|**- 10,825**|| |Malawi 2023 trip fundraising|||**- 23,512**|**- 23,512**|| |Christmas 2023 Food Security|||**- 5,115**|**- 5,115**|| |Fish Nuts tbc|||**- 1,992**|**- 1,992**|| |Christmas 2021 - lights & Loos|||**-**|**-**|| |Christmas 2021 GA|||**-**|**-**|| |Sept 2022 HoH visit|||**-**|**-**|| |Christmas 2022 Sleep safe, sleep well|||**-**|**-**|| |VTC Staff Houses||||**-**|| |Sheff Med Projects|||**-**|**-**|| |D Francis fundraising||||**-**|| |**Transfers between funds**
**Barclays Bank Cash funds this year end**
**Asset and investment purchases, etc.**
**_Sub total_**
**_Total payments_**
**_Net of receipts/(payments)_**
**Cash funds last year end**||**- 46,779**|**- 67,028**|**- 113,807**|**- 80,105**| ||||||| |||**-**|**-**|**-**|
**-**| |||**- 46,779**
**- 6,007**|||| ||||**- 67,028**|**- 113,807**|**- 80,105**| ||||||| ||||**1,579**|**- 4,428**|**9,468**| |||**-**
**14,282**|
**-**|
**-**|
**-**| ||||**21,719**|**36,001**|**16,252**| |||**8,275**|**23,298**|**31,573**|**25,721**| Charity Name: No Irf arryl= Malawi Orphan Fund Receipts and payments accounts 1,110,640 -.ar. For the period froffl 01 March 2023 29 February 2024 Section B Statement of assets and liabiltties at the end of the period Unrestricted funds to [￿a￿l£ Categories Restricted funds to r￿a￿$t£ Cash funds Balance on Bardays Bank Current Account 8.275 23,298 Toral cash funds (see nore 5J iagiee Dalancès rècèipts and payments accounl(sll 8.275 23,298 OK OK Llabilities Amount due to nearest£ None Signed ty one or two trustees on behalf of all the tNstees Signaiure Pn"M Narr Date of approval uth Janes 2810512024 Notes to the Accounts 1. Foundation and Conslitution his charrty is a trust, founded on 6 Febnjary 2(K)5 wth a donats.on of £10 00 by the foundiro tnjstees, and became a Registered Chanty in Eroland aThJ Wa￿S on 29 Juty 2005. 2. Trustses. Expenses Trustees do not receNe any remunetatK)n for sefvices. Expenses ￿cUtted in the ￿fOrMa[￿e of the ￿tivrt￿5 of the chanty. such as ravelling expenses for any wsrts to Malaw: can be reimtmjrsed out of the chanty's funds although In fact they are often not claimed. 3. Postage and Slalionery Expenses Incurred by trustees on such rtems as te￿h0￿. postage. aThJ stab.ow have also not always been claimed, which means the expendf(ure reported may be ￿5$ than true cost of the charty's actsvths. 4. Fundraising Expenses Fundraising expenses may inCl￿e travd wrthn UK for a rr￿)ber of HOH ￿aff to speak to exisb.ng sponsorsldonors as wdl as potential new donors atQLrt the work at HOH 5. Restricted vs Unrestricted Funds Where a specrfic purpose is defined for the furwjs tr*y wdl be F*ld as reSt￿ted unb"I S￿71 for that SPeCrf￿ purpose **----- Start of picture text -----**
Charity Name: No (if any):
Malawi Orphan Fund 1,110,640
Receipts and payments accounts
Period start date Period end date
For the period from 01 March 2023 To 29 February 2024
ee ee ee eee
ee Section B Statement of assets and liabilities at the end of the period
Categories Unrestricted funds Restricted funds
to nearest £ to nearest £
Cash funds
Balance on Barclays Bank Current Account 8,275 23,298
Total cash funds (see note 5) 8,275 23,298
——
(agree balances with receipts and payments account(s)) OK OK
Amount due to
Liabilities
nearest £
None -
[|
Signed by one or two trustees
on behalf of all the trustees Signature Print Name Date of approval
Ruth Janes 28/05/2024
——————
**----- End of picture text -----**
## **Notes to the Accounts** ~~ee~~ **1. Foundation and Constitution** This charity is a trust, founded on 6 February 2005 with a donation of £10.00 by the founding trustees, and became a Registered Charity in England and Wales on 29 July 2005. ## **2. Trustees' Expenses** Trustees do not receive any remuneration for their services. Expenses incurred in the performance of the activities of the charity, such as travelling expenses for any visits to Malawi, can be reimbursed out of the charity's funds although in fact they are often not claimed. ## **3. Postage and Stationery** Expenses incurred by trustees on such items as telephone, postage, and stationery have also not always been claimed, which means the expenditure reported may be less than the true cost of the charity's activities. ## **4. Fundraising Expenses** Fundraising expenses may include travel within the UK for a visiting member of the HOH staff to speak to existing sponsors/donors as well as potential new donors about the work at HOH ## **5. Restricted vs Unrestricted Funds** Where a specific purpose is defined for the funds they will be held as restricted until spent for that specific purpose Page 3 ## Independent examiner's report on the accounts **----- Start of picture text -----**
Section A independent Examiner’s Report
Report to the trustees/ MALAWI ORPHAN FUND
On accounts for the year 01 Mar 2023 to 29 Feb 2024 Charity number/ 1110640
Setoutonpages [1-3 0 O™—™—OCC‘*dCS
Respective The charity's trustees are responsible for the preparation of the accounts. The
responsibilities of charity’s trustees consider that an audit is not required for this year under section 144
trustees and examiner of the Charities Act 2011 (the Charities Act) and that an independent examination is
needed.
**----- End of picture text -----**
It is my responsibility to: e examine the accounts under section 145 of the Charities Act, e — to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and e to state whether particular matters have come to my attention. Basis of independent My examination was carried out in accordance with general Directions given by the examiner’s statement Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below. independent In connection with my examination, no matter has come to my attention examiner's statement 1. which gives me reasonable cause to believe that in, any material respect, the requirements: e to keep accounting records in accordance with section 130 of the 2011 Act; and e to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met ; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed: PR Aust pate] ie Sey zeae | Name: **----- Start of picture text -----**
independent
examiner's statement
**----- End of picture text -----**
Relevant professional qualification or body: Address: