2023-06-30-accounts

CONTENTS		PAGE
Company information
Report ofthe Trustees		3-7
Independent examiners'	report
Statements offinancial	activities	9-14
Statements offinancial	position	15-16
Notes to the financial	statements	17-20

TRUSTEES TO THE CHARITY ("THEMANAGERS")t	DrNick D Brown, Chairman	DrNick D Brown, Chairman
	Mrs Joanna M Travers-Tondat
	Mr Kim ELloyd
	Mr David Travers
	Dr Favour M Nyikosa
	Dr Keith Lloyd
	Dr Franziska Meincke
	Dr Natashi Ali
	Mr Emmanuel Maluwi Abalo
TREASURER	Mr K ELloyd
SECRETARY	Mr FNyikosa
PRINCIPAL OFFICE:	Grantleys
	11Warwick Bench	Road
	Guildford
	GU1 3TQ
CHARITY NUMBER:	1124600
INDEPENDENT EXAMINER:	Kemp k Company	Limited
	Mrs Clara Le Vallee
	Showa Denko Materials Co.Ltd
	Madrinha Trust
	MrJohnMomemont
BANKERS:	HSBC
	The Peak
	333Vauxhal1 Bridge Road
	Victoria
	London
	SWIV 1EJ

CONSOLIDATED FUNDS	CONSOLIDATED FUNDS	Note	Unrestriced	Endowment	Total funds
			funds	funds	2023
				8	8
Income
Donations &gills			104,948		104,948
Dividends			26,209		26,209
Bank interest receivable			866		866
Total income			132,023		132,023
Expeaditure
Direct charitable expenditure		2	(105,000)		(105,000)
Bank charges			(30)		(30)
Total expenditure			(105,030)		(105,030)
Net gains on investments			11,685	74,432	86,117
Net income			38,678	74,432	113,110
Gross transfer between	funds
Net movement in funds			38,678	74,432	113,110
Reconciliation offunds
Total funds brought forward			314,486	556,875	871,361
Total funds carried forward			353,164	631,307	984,471

SCHOLARSHIP FUND	Note	Uarestriced	Endowment	Total funds
		funds	funds	2023
				g
Income
Donations &gifts		99,948		99,948
Dividends		26,209		26,209
Bank interest receivable		866		866
Total income		127,023		127,023
Expenditure
Direct charitable expenditure	2	(100,000)		(100,000)
Bank charges
Total expenditure		(100,000)		(100,000)
Net gains on investments		11,685	74,432	86,117
Net income		38,708	74,432	113,140
Gross transfer between funds
Net movement in funds		38,708	74,432	113,140
Reconciliation offunds
Total funds brought forward		165,605	523,115	688,720
Total funds carried forward		204,313	597,547	801,860

ADMINISTRATION	FUND	Note	Unrestriced	Endowment	Total funds
			funds	funds	2023
				8	g
Income
Donations tk giga			5,000		5,000
Total income			5,000		5,000
Expenditure
Direct charitable expenditure		2	(5,000)		(5,000)
Bank charges			(30)		(30)
Total expenditure			(5,030)		(5,030)
Net gains on investments
Net movement in funds			(30)		(30)
Reconciliation offunds
Total funds brought forward			633	1,197	1,830
Total funds carried	forward		603	1,197	1,800

CONSOLIDATED FUNDS	CONSOLIDATED FUNDS	Note	Unrestriced	Endowment	Total funds
			funds	funds	2022
Income
Donations Et giils			120,723		120,723
Dividends			23,927		23,927
Bank interest receivable			34		34
Total income			144,684		144,684
Expenditure
Direct charitable expenditure		2	(103,500)		(103,500)
Bank charges			(191)		(191)
Total expenditure			(103,691)		(103,691)
Net gains on investments			(5,563)	(41,869)	(47,432)
Net income			35,430	(41,869)	(6,439)
Gross transfer between	funds
Net movement in funds			35,430	(41,869)	(6,439)
Reconciliation offunds
Total funds brought forward			279,056	598,744	877,800
Total funds carried forward			314,486	556,875	871,361

SCHOLARSHIP FUND	Note	Unrestriced	Endowment	Total funds
		fuads	funds	2022
		g	g
Income
Donations tie gills		117,223		117,223
Dividends		23,927		23,927
Bank interest receivable		34		34
Total income		141,184		141,184
Expenditure
Direct charitable expenditure	2	(100,000)		(100,000)
Bank charges
Total expenditure		(100,000)		(100,000)
Net gains on investments		(5,563)	(41,869)	(47,432)
Net income		35,621	(41,869)	(6,248)
Gross transfer between funds
Net movement in funds		35,621	(41,869)	(6,248)
ReconciTiation offunds
Total funds brought forward		165,605	523,115	688,720
Total funds carried forward		201,226	481,246	682,472

ADMINISTRA. TION FUND	ADMINISTRA. TION FUND	Note	Unrestriced	Endowment	Total funds
			funds	funds	2022
			g		g
Income
Donations &gifts			3,500		3,500
Total income			3,500		3,500
Expenditure
Direct charitable expenditure		2	(3,500)		(3,500)
Bank charges			(191)		(191)
Total expenditure			(3,691)		(3,691)
Net gains on investments
Net movemeat ia fuads			(191)		(191)
Reconciliation offunds
Total funds brought	forward		603	1,197	1,800
Total fuads carried	forward		412	1,197	1,609

										Unrestricted, funds	Unrestricted, funds	Bndovrrnrart 'funda	' '.	Total'fonda . '2023,	Total'fonda . '2023,	Total'fonda . '2023,	Total funds ,2072
								' 6			49,839 .	822,981,872,840					852,778
.	"':	C(IRRSNT ASSETS Caahbtbiinkjindinha'nd:													44,490 '.-'		.';.'l9,'3'l4
		VrtrbattktedSmdf, ~Snrds. . . ' '.	,	-'			" '	7 7	'	. '- — '	94@49 . -	'- ' 822,981		.	'84/49, 822,981,	,	II I'„'899 700,193
		'			'								'
		TOTAL'PUNIIS -, .		.		~ .					94,349-;	822„98I			9173330		.. .872r092

			Note
SCHOLARSHIP FUND
				Unrestricted	Endowment	Total funds	Totalfunds
				funds	funds	2023	2022
					8	f	8
FIXEDASSETS
Quoted investments			6	49,859	821,784	871,643	851,581
CURRENT ASSETS
Cash at bank and in hand				44,490		44,490	19,314
CREDITORS: Amounts		fallin8 due within one year
Amount due to Administration			fund	(540)		(540)	(540)
NET ASSETS ASSETS				93,809	821,784	915,593	870,355
FUNDS
Unrestricted funds				93,809		93,809	111,359
Endowment funds					821,784	821,784	758,996
TOTAL FUNDS				93,809	821,784	915,593	870,355
ADMINISTRATION	FUND
				Unrestricted	Endowment	Total funds	Total funds
				funds	funds	2023	2022
					8	8	8
FIXEDASSETS
Quoted investments					1,197	1,197	1,197
CURRENT ASSETS
Cash at bank and in hand
Amount due Som Scholarship			fund	540		540	540
				540		540	540
NET ASSETS				540	1,197	1,737	1,737
FUNDS
Unrestricted funds				540		540	540
Endowment funds					1,197	1,197	1,197
TOTALFUNDS				540	1,197	1,737	1,737

Direct charitable expenditure Consists ofinstitutional grants'.
Consolidated funds:-
	Number of	2023	2022
Institution	grants	K	g
TESTfor Ghana	I(2022:1)	27,350	28,500
TESTfor Malawi	2(2022:2)	26,000	25,000
TESTfor Uganda	I(2022:I)	25,000	25,000
TESTfor Tanzania	I(2022: 1)	25,000	25,000
		103,350	103,500
Scholarship fund:
	Number of	2023	2022
Institutioa	grants	g	g
TESTfor Ghana	I (2022:I)	25,000	25,000
TESTfor Malawi	I (2022; I)	26,000	25,000
TESTfor Uganda TESTfor Tanzania	I (2022:I) I(2022:I)	25,000 25,000 25,000 25,000 0.0u»00 0
Administration fund:
	Number of	2023	2022
Institution	grants	g	g
TESTfor Ghana	I (2022:I)		0
		2,350	3,500

The Trust is exempt	0'om UK	income tax under	Section 505 ofthe	Income and Corporation	Income and Corporation	Taxes Act
1988.
Quoted investments
CONSOLIDATED FUNDS
		Unrestricted	Endowment	Total funds	Total funds
		funds	funds	2023		2022
			8			8
MARKET VALUE
At I July 2022		92,585	760,193	852,778		825,376
Additions			44,918	44,918		74,834
Disposals		(44,000)		(44,000)
Revaluation		1,274	17,870	9
At 30June 2023		49,859	822,981	872,840		852,778
SCHOLARSHIP FUND
		Unrestricted	Endowment	Total funds	Total funds
		funds	funds	2023		2022
		8		8		8
MARKET VALUE
At 1 July 2022		92,585	758,996	851,581		824,179
Additions			44,918	44,918		74,834
Disposals		(44,000)		(44,000)
Revaluation		1,274	17,870	19,144
At 30June 2023
ADMINISTRATION	F'UND
		Unrestricted	Endowmeat	Total funds	Total funds
		funds	funds	2023		2022
		8	f			8
MARKET VALUE
At I July 2022			1,197	1,197		1,197
Additions
Revaluation
At 30June 2023			1 197