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





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|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<br>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<br>Trust||
||MrJohnMomemont||
|BANKERS:|HSBC||
||The Peak||
||333Vauxhal1 Bridge Road||
||Victoria||
||London||
||SWIV 1EJ||





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|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<br>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<br>in funds|||38,678|74,432|113,110|
|Reconciliation<br>offunds||||||
|Total funds brought<br>forward|||314,486|556,875|871,361|
|Total funds carried forward|||353,164|631,307|984,471|





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|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<br>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<br>in funds||38,708|74,432|113,140|
|Reconciliation offunds|||||
|Total funds brought<br>forward||165,605|523,115|688,720|
|Total funds carried forward||204,313|597,547|801,860|





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





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|CONSOLIDATED<br>FUNDS|CONSOLIDATED<br>FUNDS|Note|Unrestriced|Endowment|Total funds|
|---|---|---|---|---|---|
||||funds|funds|2022|
|Income||||||
|Donations<br>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<br>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<br>in funds|||35,430|(41,869)|(6,439)|
|Reconciliation<br>offunds||||||
|Total funds brought<br>forward|||279,056|598,744|877,800|
|Total funds carried forward|||314,486|556,875|871,361|





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|SCHOLARSHIP FUND|Note|Unrestriced|Endowment|Total funds|
|---|---|---|---|---|
|||fuads|funds|2022|
|||g|g||
|Income|||||
|Donations<br>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<br>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<br>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|





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|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<br>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|





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



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||||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<br>due to Administration|||fund|(540)||(540)|(540)|
|NET ASSETS ASSETS||||93,809|821,784|915,593|870,355|
|FUNDS||||||||
|Unrestricted<br>funds||||93,809||93,809|111,359|
|Endowment<br>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<br>due Som Scholarship|||fund|540||540|540|
|||||540||540|540|
|NET ASSETS||||540|1,197|1,737|1,737|
|FUNDS||||||||
|Unrestricted<br>funds||||540||540|540|
|Endowment<br>funds|||||1,197|1,197|1,197|
|TOTALFUNDS||||540|1,197|1,737|1,737|





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|Direct charitable<br>expenditure<br>Consists ofinstitutional<br>grants'.||||
|---|---|---|---|
|Consolidated<br>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<br>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<br>TESTfor Tanzania|I (2022:I)<br>I(2022:I)|25,000<br>25,000<br>25,000<br>25,000<br>0.0u»00<br>0||
|Administration<br>fund:||||
||Number of|2023|2022|
|Institution|grants|g|g|
|TESTfor Ghana|I (2022:I)||0|
|||2,350|3,500|





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|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||||



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