Charity number: 1130350
STARFISH MALAWI
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
STARFISH MALAWI
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 21 |
STARFISH MALAWI
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022
| Trustees | C Knott |
|---|---|
| R A Sharpe | |
| T Pickford | |
| M A Mitchell | |
| B Jackson | |
| P A Bell | |
| Charity registered number 1130350 Principal office Alderden Cottage Sponden Lane Sandhurst Cranbrook Kent TN18 5NR Independent Examiner D Boosey BA(Hons) FCA For and on behalf of MHA, Chartered Accountants Maidstone United Kingdom |
Page 1
STARFISH MALAWI
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities
a. Objectives and aims
Starfish Malawi started in 2003 as a small Christian organisation, following a visit to Malawi by its founder, Chris Knott, with a calling to "build the church and the school", which became "build the kingdom of God in the lives of children". As we seek to understand and express this calling, Starfish continues to work tirelessly in the schools in the UK and Malawi through committed teachers and Christians.
We are Christian in identity, active in education and caring in character.
Our primary area of work in Malawi is in the district of Salima, though we still have some connections with the capital, Lilongwe, and Kasungu.
Starfish Malawi also seeks to make a difference by:
-
Providing access to quality education for children in Malawi so that they can lift themselves and their communities out of poverty
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Promoting a positive communication and interaction between people of different cultures and backgrounds, thereby raising awareness of similarities, differences and sharing aspirations as global citizens with a godly outlook
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Providing support to communities to increase awareness of the HIV and AIDS pandemic, thereby developing resilience for living sustainable lives
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Empowering the vulnerable and the poor to harness their potential to switch from relying on hand-outs to self-sufficiency in the face of God's provision
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Engaging everyone in the challenges to rich and poor alike
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Giving people the opportunity to know Jesus Christ as Saviour and Lord
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Understanding Jesus' words that it is more blessed to give than to receive
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Page 2
STARFISH MALAWI
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Achievements and performance
a. Charitable activities
Starfish Malawi, as the Starfish story goes, was founded to help one person at a time. The wonderful truth is that as one or two were helped and others got involved that thousands, even tens of thousands, of people can be supported in Malawi, one of the world’s poorest countries. Even with the pandemic and other international issues, 2022 was a very good year and also enabled visitors from the UK to go back to Malawi.
Some of the highlights must be the increased use of the medical clinic and the building of a new maternity ward, which should be opened in 2023. Also a new disability wing has been built and, as one individual said to us, the world near Ngolowindo, the primary district in Salima where we work, has changed for the better incredibly since Starfish came.
But we think the most impressive work is the continuity of what we did in the beginning and what we do now. Hundreds of children continue to be helped through secondary school and university sponsorship, tens of thousands of girls are given a Gateway kit so that they can continue to go to school through their period, tens of thousands of children hear the Word of God through Bible Explorer, and we still educate through our schools linking programme with 38 current live links of schools in Malawi and the UK. It is building on what is good, rather than necessarily trying to achieve something new and different that is the key.
We remain continuously grateful to our hundreds of supporters and say thanks to all those who have given their time, energy and money to enable projects to happen. I am proud of the fact that Starfish in the UK is primarily a volunteer organisation so that work is done because we love it, rather than we are paid to do it!
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy and financial review
It is the policy of the Charity's trustees to maintain unrestricted funds, which are free reserves of the Charity, at a level that equates to a minimum of three months of operating expenditure. This provides sufficient funds to cover management, administration and support costs, and to respond to emergency situations.
The rationale for holding this reserve is as follows;
-
to ensure the financial security and proper staffing of the Charity
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to provide adequate resources to meet the challenges by new and uncertain funding streams
During the period under review, the total income received by the charity was £287,041 (2021: £339,164). The principal sources of income were from institutional and individual donations; the trustees and staff are grateful for this ongoing support.
Given the current economic climate, the trustees are satisfied with the performance of the charity during the year and with the financial position as at 31 December 2022. The trustees consider the charity is in a good position to continue its activities during the coming year and that the charity's assets are adequate to fulfil its obligations. However, the trustees will continue to explore all options for maintaining and increasing income levels.
Page 3
STARFISH MALAWI
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
c. Principal funding
During the year, principal funding for both unrestricted and restricted activities came from donations and fundraising.
Structure, governance and management
a. Constitution
Starfish Malawi is a registered charity, number 1130350, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
We continue to work with our existing supporters and look for new trusts and grants.
In 2023 we look forward to the completion of the maternity clinic, building houses for nurses, continuing to build a school at Moyo, providing a solar borehole for 4,200 children in Chisiyo, who have no clean water within half a mile of school and much, much more. Yes, and continuing to do what Starfish has always believed, and that is to “love our neighbour” and to do all things to the glory of God.
Page 4
STARFISH MWI TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Stat•m•nt of Trusl••s' r•spon¥ibiliti Thè Trustees are resF<1nb]e for prep3rwu the Trustees. rep(xl and the finandal statements in acccrdanco with applicable law and United lrmgdom A¢countrfy3 SIdards Iunttsd larrfJ¢Jom Goner81ty Ac¢epted AcCoWng Praets"cel. The L8w applicable ID charitios in England & Wal&s requir8s the Trust88S to prepare financial ststemenls for each finanrAal tar which give a true #nd f"r vitrw ol the stste of affairs of the Charity and of its incoming resources and appllc8tk)n ol resources. induding ts inc4Jme and expendiiure, for that period. In preparing these financial ststements. the Trustees are required lo.. 80lecl suitable accxmting then 8ppty them (sIsten. obseNe the meihods and prinoples oflhe Chanbes SORP IFRS 1021: make judgements and acun.ng estim8tes thal are reasonable and pwd8nL stata whether applicable UK AcCnI1g Sianoards (FRS 102) have been fdowed. sublact to any m8téMal departures tlisclosed and explained in the financi81 ststem8nts', pr8par8 fmandal statéments on golng cxjncem basls unless It ts Inapwoprlats to pr•$um• tral the Chadty wlll continue wi Lwiness. The Tr5Jslee8 are ro8wjnsib fof keeping adew8ts a(wunling recryds Ihal we wffioent to show and explain the Charlvs transactions and disdose reasone ararY at any lime the ffiandal positlon of the Charily and enab5e them to ensurt that the financi81 8tatements comply v•ith the Charities Act 2011. the Charity {Accounts and Reports) Regulations 2008 the provisions of the Trust deed. They are also responsibl& for safeguarding the assets of tho Charity and hent• f lakn.ro r8asonabio steps for th8 pr8vention and detedon of fraud and other irregularities. Approved by order ol the members of the tM)ard of TnJstee8 and signed thelr behalf by.. Trustee Dale.. Page 5
STARFISH MALAWI
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
Independent examiner's report to the Trustees of Starfish Malawi ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Dated: 18 September 2023
D Boosey BA(Hons) FCA
Independent Examiner For and on behalf of MHA, Chartered Accountants Maidstone, United Kingdom
Page 6
STARFISH MALAWI
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Income from: Donations and grants 2 Other trading activities 3 Total income Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net income/(expenditure) Transfers between funds 11 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 111,961 6,028 117,989 10,564 67,068 77,632 40,357 2,353 42,710 4,792 42,710 47,502 |
Restricted funds 2022 £ 145,807 23,245 169,052 - 208,401 208,401 (39,349) (2,353) (41,702) 222,572 (41,702) 180,870 |
Total funds 2022 £ 257,768 29,273 287,041 10,564 275,469 286,033 1,008 - 1,008 227,364 1,008 228,372 |
Total funds 2021 £ 304,576 34,588 |
|---|---|---|---|---|
| 339,164 | ||||
| 9,773 241,666 |
||||
| 251,439 | ||||
| 87,725 - |
||||
| 87,725 | ||||
| 139,639 87,725 |
||||
| 227,364 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 21 form part of these financial statements.
Page 7
STARFISH MALAWI BALANCE SHEET AS AT 31 DECEMBER2022 2021 Not• Currènt assets Cash at bank and in hand 230.M4 229,612 230,914 229.612 Creditors.. amounts falling due wilhin onè year 10 11542) (2,248) N•t currnnt ••s•ts 22&372 227.364 Total net assets 228.372 227.364 Charlty fund• R&strict8d funds Unre&tricled funds 11 180,870 47,S02 222,572 4.792 Total fund• 228,372 227.364 The financial 81alerT wore apwoyed and authlSed fix i88uo by the Trustees and signed on thwr behalf ty. Trustee L)8te'. 4191 Tho notes on page5 9 to 21 fomi port of these fmanc#al Stat10n1¥. Page 8
STARFISH MALAWI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting policies
1.1 Basis of preparation of financial statements
Starfish Malawi is an unincorporated trust, constituted under a Trust Deed.
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements are presented in sterling, which is the functional currency of the charity, and rounded to the nearest £1.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Starfish Malawi 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.
1.2 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Trust to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Page 9
STARFISH MALAWI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting policies (continued)
1.4 Expenditure (continued)
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
1.5 Cash at bank and in hand
Cash at bank and 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.
1.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.7 Financial instruments
The Charity 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 measured at amortised cost using the effective interest method.
1.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 10
STARFISH MALAWI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. Income from donations and grants
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2022 | 2022 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Donations and grants | 111,961 | 145,807 | 257,768 | 304,576 |
In 2021, £235,234 of the above donations and grants were attributable to restricted funds and £69,342 were attributable to unrestricted funds.
3. Income from other trading activities
Income from fundraising events
| Restricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Fundraising events | 23,245 | 23,245 | 27,574 |
In 2021, £27,574 of the above fundraising income was attributable to restricted funds and £nil was attributable to unrestricted funds.
Income from non charitable trading activities
| Unrestricted funds 2022 £ Management fees 6,028 Total 2021 7,014 |
Total funds 2022 £ 6,028 7,014 |
Total funds 2021 £ 7,014 |
|---|---|---|
Page 11
STARFISH MALAWI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
4. Expenditure on raising funds
Costs of raising voluntary income
| Unrestricted funds 2022 £ Fundraising costs 484 Wages of fundraising staff 10,080 Total 2022 10,564 |
Total funds 2022 £ 484 10,080 10,564 |
Total funds 2021 £ 713 9,060 |
|---|---|---|
| 9,773 |
Fundraising costs were wholly attributable to unrestricted funds in the prior year.
5. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| funds | funds | Total | Total | |
| 2022 | 2022 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Activities to benefit clients | 67,068 | 208,401 | 275,469 | 241,666 |
In 2021, £171,827 of the above expenditure on charitable activities was attributable to restricted funds and £69,839 was attributable to unrestricted funds.
Page 12
STARFISH MALAWI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
6. Analysis of expenditure by activities
| Activities undertaken directly 2022 £ Activities to benefit clients 242,976 Total 2021 226,405 Analysis of direct costs Activities to benefit clients Total 2021 Analysis of support costs Staff costs Insurance Postage and stationery Office costs Motor and travel Bank charges Governance costs - Independent examiner's remuneration Total 2022 Total 2021 |
Support costs 2022 £ 32,493 15,261 Activities 2022 £ 242,976 226,405 Activities 2022 £ 23,752 2,260 561 2,151 978 141 2,650 32,493 15,261 |
Total funds 2022 £ 275,469 241,666 Total funds 2022 £ 242,976 226,405 Total funds 2022 £ 23,752 2,260 561 2,151 978 141 2,650 32,493 15,261 |
Total funds 2021 £ 241,666 |
|---|---|---|---|
| Total funds 2021 £ 226,405 |
|||
| Total funds 2021 £ 8,352 2,173 554 1,169 479 184 2,350 |
|||
| 15,261 | |||
Page 13
STARFISH MALAWI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £1,925 (2021 - £1,175) , and accounts preparation fees of £1,925 ( 2021 - £1,175 ).
8. Staff costs
| Wages and salaries | 2022 £ 33,832 33,832 |
2021 £ 17,412 |
|---|---|---|
| 17,412 |
The average number of persons employed by the Charity during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| Management and administration | 2 | 1 |
No employee received remuneration amounting to more than £60,000 in either year.
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year, expenses totalling £933 were reimbursed to one Trustee for travelling costs incurred on charity business (2021 - £479 to one Trustee) .
10. Creditors: Amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 2,542 | 2,248 |
Page 14
STARFISH MALAWI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
11. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds General Funds Restricted funds Bible Explorer Crowborough/Chapsinja Disability Transport Fund (NYA 2020) Gateway Glad Tidings GTOC - Health Centre Hurst Green / Chitiwiri Laptops Madalitso Maternity Fund Michael Jackson's Legacy Secondary School Sponsorship Washstands St Josephs / Chisiyo CGA / LBE Appeal Give Babies Light Appeal 2022 Mission Direct NYA 2022 / Care Packages Miscellaneous Restricted Funds Total of funds |
Balance at 1 January 2022 £ 4,792 - 4,792 28,101 9,014 10,853 7,169 8,637 13,280 14,707 3,312 16,097 50,000 13,286 28,583 2,683 440 - - - - 16,410 222,572 227,364 |
Income £ 117,989 - 117,989 9,090 4,059 594 11,756 10,704 5,693 4,760 50 2,509 100 9,118 64,753 - 2,581 2,786 2,595 9,000 6,549 22,355 169,052 287,041 |
Expenditure £ (77,632) - (77,632) (16,250) (4,288) - (7,417) (14,056) (19,902) (12,699) (2,922) (10,517) (30,000) (9,973) (58,396) - - - - - (3,500) (18,481) (208,401) (286,033) |
Transfers in/out £ 2,353 - 2,353 - - - - - 929 - - - - - - - - - - (2,936) - (346) (2,353) - |
Balance at 31 December 2022 £ 47,502 - |
|---|---|---|---|---|---|
| 47,502 | |||||
| 20,941 8,785 11,447 11,508 5,285 - 6,768 440 8,089 20,100 12,431 34,940 2,683 3,021 2,786 2,595 6,064 3,049 19,938 |
|||||
| 180,870 | |||||
| 228,372 |
Page 15
STARFISH MALAWI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
11. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds - all funds General Funds Restricted funds Bible Explorer Crowborough/Chapsinja Disability Transport Fund (NYA 2020) Gateway Glad Tidings GTOC - Health Centre Hurst Green / Chitiwiri Laptops Madalitso Maternity Fund Michael Jackson's Legacy Secondary School Sponsorship Washstands St Josephs / Chisiyo CGA / LBE Appeal Give Babies Light Appeal 2022 Mission Direct NYA 2022 / Care Packages Miscellaneous Restricted Funds |
Balance at 1 January 2021 £ - 10,506 10,506 9,115 6,117 7,699 5,777 3,674 6,031 12,282 - 20,236 - 10,715 31,926 2,683 - - - - - 12,878 129,133 |
Income £ - 76,356 76,356 29,180 7,957 8,192 6,742 23,670 27,398 4,925 3,312 6,805 50,000 13,203 53,623 - - - - - - 27,801 262,808 |
Expenditure £ - (79,612) (79,612) (10,194) (5,060) (5,038) (5,350) (18,707) (20,149) (2,500) - (10,944) - (10,632) (56,966) - - - - - - (26,287) (171,827) |
Transfers in/out £ - (2,458) (2,458) - - - - - - - - - - - - - - - - - - 2,458 2,458 |
Balance at 31 December 2021 £ - 4,792 |
|---|---|---|---|---|---|
| 4,792 | |||||
| 28,101 9,014 10,853 7,169 8,637 13,280 14,707 3,312 16,097 50,000 13,286 28,583 2,683 - - - - - 16,850 |
|||||
| 222,572 |
Page 16
STARFISH MALAWI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 11. Statement of funds (continued) Total of funds 139,639 |
339,164 | (251,439) | - | 227,364 |
|---|---|---|---|---|
Page 17
STARFISH MALAWI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
12. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 January 2022 £ 4,792 222,572 227,364 Balance at 1 January 2021 £ 10,506 129,133 139,639 |
Income £ 117,989 169,052 287,041 Income £ 76,356 262,808 339,164 |
Expenditure £ (77,632) (208,401) (286,033) Expenditure £ (79,612) (171,827) (251,439) |
Transfers in/out £ 2,353 (2,353) - Transfers in/out £ (2,458) 2,458 - |
Balance at 31 December 2022 £ 47,502 180,870 |
|---|---|---|---|---|---|
| 228,372 | |||||
| Balance at 31 December 2021 £ 4,792 222,572 |
|||||
| Summary of funds - prior year | |||||
| General funds Restricted funds |
|||||
| 227,364 |
Page 18
STARFISH MALAWI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
General Funds
Includes donations and legacies made principally to support projects which cannot be classified within the Charity's main headings. It also includes funds for which donations have been made in advance of any restriction applied by or notified to the Trustees.
Restricted Funds
Bible Explorer - a worldwide teaching model that helps children to understand the Bible in a way that is both fun and interactive. The fund enables the Charity to run this programme in the UK and Malawi, with dedicated teachers delivering lessons in over 50 schools and reaching nearly 7,000 students.
Crowborough/Chapsinja - this fund provides support for ongoing work in school sponsorship and education, as well as orphan care, in the Chapsinja area of Malawi.
Disability Transport Fund (NYA 2020) - this fund allows for the provision of transport for children that are going to hospital to receive vital operations and medical attention.
Gateway - unable to afford sanitary protection, many girls in Malawi do not attend school during their periods. Gateway works with local sewing groups in the communities to provide reusable sanitary hygiene kits and encourage girls to complete their education. This fund provides the necessary resources to carry out these activities.
Glad Tidings - this was the first project set up by the Charity in Malawi and still runs today. The fund aids the provision of healthcare, education and daily meals for orphans.
GTOC - Health Centre - this fund provides the necessary resources to run Glad Tidings Orphan Care (GTOC), a community-based organisation which aims to empower vulnerable children. The centre provides a children’s healthcare clinic, nursery education, a feeding programme and safeguarding services for children alongside a number of other community development projects.
Hurst Green/Chitiwiri - this fund provides resources towards a schools programme focused around education, secondary school sponsorship, first aid and food provision.
Laptops - funding is to be used for the purchase of laptops which are required to further the development of schools work and students attending university, in addition to equipping the Starfish Malawi office.
Madalitso - the Madalitso fund provides a centre for vulnerable girls to live in safety and to pursue their education in peace. The support includes accommodation costs for some of the girls residing at Elizabeth Hope house, a weekly feeding programme, school tuition fees and the provision of school uniforms.
Maternity Fund - this fund was created to build a maternity wing in Ngolowindo, where there is a very high infant mortality rate. The fund also contributes fixtures and fittings, beds, and a contribution towards running costs for one year.
Michael Jackson's Legacy - this fund consists of donations received from Michael Jackson's Legacy, a charitable organisation dedicated to humanitarian work, which has been used to provide a garden centre for food and education, and a new classroom for disabled children.
Secondary School Sponsorship - this fund was set up to provide further education for orphans and vulnerable children, most of whom come from the Charity's linked primary schools.
Washstands - this fund provides the necessary resources to allow the Charity to help provide the community with clean water for washing and has been especially important this year with the outbreak of the COVID-19 pandemic.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
St Joseph's/Chisiyo - funding for a link school programme between St Josephs School in the United Kingdom and Chisiyo School in Malawi.
CGA/LBE Appeal - The Christmas Gifts Appeal aims to provide funding toward purchasing food and hygiene products in Malawi.
Give Babies Light Appeal 2022 - This appeal aims to raise funds to provide electricity to the new maternity wing.
Mission Direct - a charitable organisation arranging short term mission in Malawi.
Care Packages (NYA 2022) - an appeal to provide care packages for those living in poverty.
In addition to the funds described above, the Charity runs many other smaller projects which have restricted funds attached. A total of these funds has been presented in the statement of funds as 'Miscellaneous Restricted Funds', as the individual balances and nature of the funds have not been deemed material by the Trustees.
13. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Current assets 50,044 Creditors due within one year (2,542) Total 47,502 |
Restricted funds 2022 £ 180,870 - 180,870 |
Total funds 2022 £ 230,914 (2,542) 228,372 |
|---|---|---|
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 7,040 (2,248) 4,792 |
Restricted funds 2021 £ 222,572 - 222,572 |
Total funds 2021 £ 229,612 (2,248) 227,364 |
|---|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
14. Related party transactions
Apart from Trustees' expenses reimbursed as disclosed in Note 9, there were no other related party transactions for the year ended 31 December 2022 (2021 - £Nil) .
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