2024-12-31-accounts - Starfish Malawi

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STARFISH MALAWI

Charity No. 1130350

Trustees' Report and Unaudited Accounts

31 December 2024

STARFISH MALAWI Contents

	Pages
Trustees' Annual Report	2 to 4
Independent Examiner's Report		5
Statement of Financial Activities		6
Summary Income and Expenditure Account		7
Balance Sheet		8
Notes to the Accounts	9 to	14
Detailed Statement of Financial Activities	15 to	16

Page 1

STARFISH MALAWI Trustees Annual Report

Charity

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1130350

Registered Office

ALDERDEN COTTAGE SPONDEN LANE SANDHURST CRANBROOK TN18 5NR

Trustees

The following Trustees served during the year:

P.A. BELL B. Jackson C. Knott M.A. Mitchell T. Pickford R. Sharpe

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Accountants

Cangaf Accountants 235 Tonge Moor Road Bolton BL2 2HR

Bankers

CAF Bank 25 Kings Hill West Mailling Kent ME19 4JQ

OBJECTIVES AND ACTIVITIES

From a small beginning in 2003 Starfish Malawi has continuously tried to assist the community in the district of Salima in Malawi who experience ongoing poverty. The work has grown to include Lilongwe, the capital. We believe that we were called into existence by God, and we are here to fulfil the commission we are given. Psalm 82:3, “Defend the weak and the fatherless; uphold the cause of the poor and the oppressed.”

We provide a difference by allowing more children to access quality education so that they can lift themselves and their communities out of poverty.

Page 2

STARFISH MALAWI Trustees Annual Report

We promote positive communication between schools in the UK and Malawi, so that everybody recognises that we are made in the image of God, and we can share the world in which we live.

We have continuously tried to assist in areas where the community have asked for help, and this has included a Medical Clinic, the building of a Maternity Wing to be opened in 2025 and supporting two Special Needs Education centres for young children with disabilities.

We encourage a culture of being involved in every way so that it is not just a handout, but a help up.

In 2024 the work of Bible Explorer has grown considerably and will continue to do so – over 10,000 children per year. Hope Clinic is seeing about 40,000 patients per year. Students are sponsored through secondary school and university. Girls are able to continue to go to school through provision of Gateway kits which help them during their menstruation period.

We run 4 nursery schools providing an excellent start to life and also a meal every day. Each year we send a 40-foot container full of provisions for the communities.

Please visit our website and look at “What we do” to see the full range of ministries we undertake.

We are excited that in 2025, we hope to start our Community Feeding Programme allowing thousands of children to be fed every day whilst, at the same time, improving understanding of agriculture and better farming techniques.

We are primarily run by volunteers in the UK, and we are thankful for the way that they have given their life and resources to this work.

The trustees and staff are grateful for the ongoing support of so many givers.

ACHIEVEMENTS AND PERFORMANCE

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 - 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 £256,466 (2023: £255,473). Expenditure for the same period was £237,585 ( 2023: £299,784) The charity recorded an operating surplus for the year which is £18,881. Our income from trusts, grants and donors has increased slightly as compared to previous financial year. 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 2024. 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 Annual Report

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

C. Knott

Trustee

31 December 2024

Page 4

STARFISH MALAWI Independent Examiners Report

Independent Examiner's Report to the trustees of STARFISH MALAWI

I report to the charity trustees on my examination of the financial statements of STARFISH MALAWI for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

As 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 MBA ACCA, which is one of the listed bodies.

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

Cecilia Asamoah MBA ACCA

Cangaf Accountants 235 Tonge Moor Road Bolton

BL2 2HR

31 December 2024

Page 5

STARFISH MALAWI Statement of Financial Activities

for the year ended 31 December 2024

Unrestricted funds 2024 £ 256,466	Restricted funds 2024 £ -	Total funds 2024 £ 256,466	Total funds 2023 £ 255,472
256,466 - 192,052 45,533	- - - -	256,466 - 192,052 45,533	255,472 12,311 218,713 68,759
237,585 -	- -	237,585 -	299,783 -
18,881 -	- -	18,881 -	(44,311) -
18,881	-	18,881	(44,311)
18,881 27,114	- 156,947	18,881 184,061	(44,311) 228,372
45,995	156,947	202,942	184,061

Page 6

STARFISH MALAWI Summary Income and Expenditure Account for the year ended 31 December 2024

Income Gross income for the year Expenditure Total expenditure for the year Net income/(expenditure) before tax for the year Net income /(expenditure )for the year	2024 £ 256,466 256,466 237,585 237,585 18,881 18,881	2023 £ 255,473
		255,473
		299,784
		299,784
		(44,311)
		(44,311)

Page 7

STARFISH MALAWI Balance Sheet

at 31 December 2024

Notes 2024 £ Current assets Cash at bank and in hand 203,743 203,743 Creditors:Amount falling due within one year 9 (801) Net current assets 202,942 Total assets less current liabilities 202,942 Net assets excluding pension asset or liability 202,942 Total net assets 202,942 The funds of the charity Restricted funds 10 Restricted income funds 156,947 156,947 Unrestricted funds 10 General funds 45,995 45,995 Reserves 10 Total funds 202,942	2023 £ 184,862
	184,862 (801)
	184,061 184,061
	184,061
	184,061
	156,947
	156,947 27,114
	27,114
	184,061

Approved by the board on 31 December 2024

And signed on its behalf by:

C. Knott Trustee 31 December 2024

Page 8

STARFISH MALAWI Notes to the Accounts

for the year ended 31 December 2024

1 Accounting policies

Basis of preparation

The financial statements have been prepared 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 9

STARFISH MALAWI Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 10

STARFISH MALAWI Notes to the Accounts

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 11

STARFISH MALAWI

Notes to the Accounts

3 Statement of Financial Activities - prior year

3 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies 5 Expenditure on raising funds Fundraising trading costs	Unrestricted funds 2023 £ 60,683 - 60,683 12,311 - 68,760 81,071 (20,388) (20,388) (20,388) 47,502 27,114 Unrestricted £ 256,466 256,466	Restricted funds 2023 £ 194,790 - 194,790 - 218,713 - 218,713 (23,923) (23,923) (23,923) 180,870 156,947 Total 2024 £ 256,466 256,466 Total 2024 £ - -	Total funds 2023 £ 255,473 -
			255,473 12,311 218,713 68,760
			299,784
			(44,311)
			(44,311)
			(44,311) 228,372
			184,061
			Total 2023 £ 255,472
			255,472
			Total 2023 £ 12,311
			12,311

Page 12

STARFISH MALAWI Notes to the Accounts

6 Expenditure on charitable activities

Expenditure on charitable activities Malawi Expenses 7 Other expenditure Employee costs Motor and travel costs General administrative costs 8 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 9 Creditors: amounts falling due within one year Accruals	Unrestricted £ 192,052 192,052 Unrestricted £ 30,600 469 14,464 45,533 2024 30,600 30,600 2024 £ 801 801	Total 2024 £ 192,052 192,052 Total 2024 £ 30,600 469 14,464 45,533	Total 2023 £ 218,713
			218,713
			Total 2023 £ 34,987 1,959 31,813
			68,759
			2023 34,987
			34,987
			2023 £ 801
			801

Page 13

STARFISH MALAWI Notes to the Accounts

10 Movement in funds

Incoming resources (including other gains/losses ) £ - - 256,466 256,466 Unrestricted funds £ 203,743 203,743 At 1 January 2024 £	Resources expended £ - - (237,585) (237,585) Restricted funds £ (801) (801) Cash flows £	At 31 December 2024 £ 156,947
		156,947
		45,995
		202,942
		Total £ 202,942
		202,942
		At 31 December 2024 £
184,862	18,881	203,743
184,862 184,862	18,881 18,881	203,743
		203,743

13 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 14

STARFISH MALAWI Detailed Statement of Financial Activities

for the year ended 31 December 2024

Income and endowments from: Donations and legacies Total income and endowments Expenditure on: Costs of other trading activities Total of expenditure on raising funds Charitable activities Malawi Expenses Total of expenditure on charitable activities Employee costs Salaries/wages Directors' remuneration Motor and travel costs Travel and subsistence General administrative costs, including depreciation and amortisation Bank charges General insurances Information and publications Postage and couriers Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Total of expenditure of other costs Total expenditure Net gains on investments	Unrestricte d funds 2024 £ 256,466 256,466 256,466 - - - 192,052 192,052 192,052 30,600 - 30,600 469 469 100 827 177 57 - - 3,247 10,056 14,464 45,533 237,585 -	2024 £ - - - - - - - - - - - - - - - - - - - - - - - - - -	Total funds 2024 £ 256,466 256,466 256,466 - - - 192,052 192,052 192,052 30,600 - 30,600 469 469 100 827 177 57 - - 3,247 10,056 14,464 45,533 237,585 -	Total funds 2023 £ 255,472
				255,472
				255,472 12,311
				12,311
				12,311 218,713
				218,713
				218,713 25,800 9,187
				34,987
				1,959
				1,959
				- 1,105 - 17,323 1,050 1,456 - 10,879
				31,813
				68,759
				299,783 -

Page 15

STARFISH MALAWI Detailed Statement of Financial Activities

Net income/(expenditure) Net income/(expenditure) before other gains/(losses) Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	18,881 18,881 18,881 27,114 45,995	- - - 156,947 156,947	18,881 18,881 18,881 184,061 202,942	(44,311)
				(44,311)
				(44,311)
				228,372
				184,061

Page 16