**COMPANY REGISTRATION NUMBER: 06884556 CHARITY REGISTRATION NUMBER: 1133371** ## **Memusi Foundation Company Limited by Guarantee Unaudited Financial Statements** **31 March 2022** Chartered accountants 1 Victoria Court Bank Square Morley Leeds West Yorkshire LS27 9SE **NOVIS & CO.** ## **Memusi Foundation** ## **Company Limited by Guarantee** ## **Financial Statements** ## **Year ended 31 March 2022** ||**Page**| |---|---| |Trustees' annual report (incorporating the director's report)|**1**| |Statement of financial activities (including income and|| |expenditure account)|**7**| |Statement of financial position|**8**| |Notes to the financial statements|**9**| ## **Memusi Foundation** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** ## **Year ended 31 March 2022** The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2022. ## **Reference and administrative details** |**Registered charity name**|Memusi Foundation| |---|---| |**Charity registration number**|1133371| |**Company registration number**|06884556| |**Principal office and registered**|1 John Charles Way| |**office**|Gelderd Way| ||Gelderd Road| ||Leeds| ||LS12 6QA| ||West Yorkshire| |**The trustees**|| ||L M Clayton| ||C S Tucker| ||H Norton| ||M Norton| ||S J C Webb| ||A Colley-Perkins| ||J Liddle| ||J S Alexander| |**Accountants**|Novis & Co.| ||Chartered accountants| ||1 Victoria Court| ||Bank Square| ||Morley| ||Leeds| ||West Yorkshire| ||LS27 9SE| ## **Structure, governance and management** We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. Memusi Foundation (MF) operates through a structured support group in Kenya with a team of volunteers on the ground helps to ensure that the work is guided effectively and that the schools progress to plan. Strong and regular communication channels are kept open with the communities and staff at each Memusi School. Decisions of development are made in the UK, with conference and discussion with the expert partners in Africa. Advice on the direction of the schools is agreed upon with the communities and community representatives, and then the investment is made. **- 1 -** **Memusi Foundation** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2022** ## **Objectives and activities** The overriding objective of the charity is for the benefit of young people in Africa to advance education in particular by the development, support and management of educational institutions. Further objectives extend to ensure that the school and communities have sufficient support to excel. Food, clothing and employment opportunities are all invested in to help the communities where we work to thrive. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. ## **Achievements and performance** Over the period, the Memusi Foundation has delivered in a number of areas to meet its plans in the operating period of 2021 to 2022. These are listed below: - This previous accounting period saw COVID significantly impact education with Schools closed until January 2021 and lockdowns and cessation of movements driving people to starvation. Whilst we have seen schools return in this accounting period, the ongoing challenges of those communities have been seen with many people starving due to the lack of return of livestock markets and limited movement allowed. This has been further compounded by droughts unlike any in living memory meaning that the daily struggles of many of those who we support and serve has got continually worse. As well as our focus on education, we have continued to support the parents and communities that surround our schools as we believe that this is not just the right thing to do, but our knowledge that a thriving and healthy community means that schools also then thrive further. - 2022 saw the sixth year group of children to complete Primary education at Memusi School. We continue to be delighted that our performance at Memusi continues to demonstrate strong results for the school, with Memusi again being one of the only schools in the Magadi Ward to have seen grades increase during the impacted COVID period and keeps us on track for our goals and aims of Quality Education - Support of running costs - Including Memusi School and Memusi B School and Memusi C in Magadi, Kenya. Employment is provided for 36 staff across 29 permanent classrooms, supporting 920 Primary age children. Memusi B now has 14 classes and employs 14 teachers, a cleaner and security (in line with expected standards). This school currently provides education for 420 children. A continued and significant focus has been placed into Child Sponsorship to ensure that this support is possible. - Desks - At Memusi A, for our older year groups we have invested in single desks for a number of classrooms. This avoids shared desk space, cramped working and a less conducive working environment. With the bench desks that were replaced, we have donated these to three other local schools for younger age groups, where the schools had no desks and children were sitting on the floor to learn - Text Books - across all of our schools, we have invested heavily in more text books to ensure that the right amount of provision of learning materials are there for the children to learn properly. With the introduction of a new curriculum in Kenya, this has brought new expense with the need for whole sets of new material across many grades. **- 2 -** ## **Memusi Foundation** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2022** - Innovation Construction - we are incredibly excited that we have been able to build a number of our innovation builds in Magadi. These innovation builds halve the cost of construction, they halve the build time, they use local materials, reduce the internal temperatures by over 10 degrees and also reduce the carbon footprint of construction. Working with the architects over a number of years, we are delighted that this theory has been able to come to life in 4 of these builds. Whilst we are now in the evaluation stage of the builds, our intention is that these classrooms will be our model of build going forward and we hope will be adopted by others. - Structural Support to Memusi B - Memusi B has seen the construction of 2 more permanent classrooms and 2 more teachers houses, a staff room and further as well as the tiling of new classrooms to protect the floor and avoid the repair costs of the erosion of flooring. Thanks to funding from our Partner Personal Group, we have also started the development of a Dormitory facility at this school that will support older girls in education. - As part of Memusi Outreach we continued our work of supporting communities with healthcare and supporting teacher development - Teacher programme study - We have been fortunate to have received a grant to support research into the impact on school progress where teachers have the correct support and motivation. 6 teachers across 4 schools are being supported in this 2 year research programme. Throughout our work, we continue to look at all interventions that can drive grades, attendance and engagement in education. Our hope is that our own research then provide the base information to ensure that others are investing in education in the most effective way. We already have evidence on female hygiene, healthcare, technology and resources. This extra study will help us to ensure that our own model of education demonstrates the most effective ways of delivering education in rural Africa. - Support of Children through higher education - Memusi continues to support children who have graduated from Memusi with sponsorship of their Secondary and University fees. 3 young people are supported at University with 11 young people at Secondary School supported through U.K. sponsors - Provision of education materials - education materials including books and curriculum support materials have been provided on all Memusi School campuses, text books, learning materials as well as food for school meals. - Uniforms - The start of the school year saw the purchase of new school uniforms for all children at Memusi and Memusi B schools - Health Care - Through partnership with the Maa Healthcare Initiative in Nairobi, we have been able to bring back a medical camp into the communities that we support to provide free healthcare and dental treatment. This programme supported 400 people and to date has seen a benefit of over £750,000 worth of free healthcare treatment through our partnership together. - As a result of COVID, we designed and launched a programme called SMART AID, which aimed to support those at risk of starvation as a result of the lockdown measures and cessation of movement rules in the Country. During this accounting period, this programme continued to be delivered, supporting small businesses to continue trading and resulted in us reaching over 125,000 people during the length of this programme. - During Christmas 2021, we held a second campaign called ’See the Child’ which also supported Street Children in Magadi and on the streets of Nairobi. Our programme to provide food to children at this time enabled us to reach over 5,000 children, delivered and enabled through volunteers and has now supported 13,000 children in the length of this programme. - Post the success of our ’See the Child’ campaign, we have now implemented a full time programme in Nairobi that will provide warm food and drink to around 150 children and young people. Food is given for those who are hungry, but is also used as a method of building trust and relationships where counselling and healthcare can be provided and also where help can be provided to support young people to escape the streets. **- 3 -** ## **Memusi Foundation** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2022** ## **Financial review** Principle Funding Source - Funding has been secured through different key approaches. Namely, these have been through fundraising activities carried out by trustee members of the charities as well as other different support groups. The trustees are grateful to all funders. In addition, the Foundation has continued the development of monthly giving through its child sponsorship programme. Investment Policy - Aside from retaining a prudent amount in reserves each year (which will be reviewed by the trustees on an annual basis), most of the charities funds are to be spent in the short term, mainly to support the ongoing running and development of the educational facilities and building structures. ## **Plans for future periods** Our focus continues into the next year on the implementation of the offer of quality education to children at Memusi A, Memusi B and Memusi C. We continue to work on the development of infrastructure, support of teaching staff and provision of resources to ensure that the quality of education offered is the very best that it can be. Ongoing, we continue to test new ideas to implement the interventions that will see the quality of education provided in our schools to keep progressing forward. Our programme of Memusi Outreach will continue to roll out across schools in the Magadi Ward of Kenya, helping to support children across all public schools to get a quality education. These interventions can be applied en-mass and help raise the bar on education across the entire area through the small interventions that we have seen and tested in previous years; teacher development, healthcare, sanitary provision and education and materials and resources where funding allows. We will look to further roll out the construction of more Innovation Classrooms into our own schools; demonstrating our own approach to the delivery of education that tackles those significant challenges that are faced right across Kenya when it comes to quality education. Through these builds we are halving the cost of construction meaning that not only is money being saved in construction, but that money can be used to ensure that the internal spend is equal (all critical things in the delivery of quality education and SDG4). We hope that our work in this area can influence others who work in education and international development to think differently and adopt this Memusi model. **- 4 -** ## **Memusi Foundation** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2022** ## **Plans for future periods (cont’d)** We look forward to bringing back our medical camps in partnership with Maa Healthcare and launching a new farming project that we believe can help considerably towards the sustainability of our programmes. Finally, with our Street Child Programme (See the Child) we look forward to seeing this ring fenced money support an ongoing feeding, counselling and rehabilitation programme for children and young people who live and work on the streets of Nairobi. ## **Small company provisions** This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. **- 5 -** ## **Memusi Foundation** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 March 2022** The trustees' annual report was approved on 11[th] January 2023 and signed on behalf of the board of trustees by: **M Norton Trustee** **- 6 -** ## **Memusi Foundation** ## **Company Limited by Guarantee** ## **Statement of Financial Activities (including income and expenditure account)** ## **Year ended 31 March 2022** |||**2022**||2021| |---|---|---|---|---| |||Unrestricted||| |||funds**Total funds**||Total funds| ||**Note**|**£**|**£**|£| |**Income and endowments**||||| |Donations and legacies|**5**|221,774|**221,774**|188,397| |||--------------------------------|--------------------------------|--------------------------------| |**Total income**||221,774|**221,774**|188,397| |||================================|================================|================================| |**Expenditure**||||| |Expenditure on raising funds:||||| |Costs of running charitable activities|**6**|177,820|**177,820**|219,791| |||--------------------------------|--------------------------------|--------------------------------| |**Total expenditure**||177,820|**177,820**|219,791| |||================================|================================|================================| |||--------------------------------|--------------------------------|--------------------------------| |**Net income/(expenditure) and net movement in funds**||43,954|**43,954**|(31,394)| |||================================|================================|================================| |**Reconciliation of funds**||||| |Total funds brought forward||38,271|**38,271**|69,665| |||--------------------------------|--------------------------------|--------------------------------| |**Total funds carried forward**||82,225|**82,225**|38,271| |||================================|================================|================================| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 9 to 12 form part of these financial statements.** **- 7 -** ## **Memusi Foundation** ## **Company Limited by Guarantee** ## **Statement of Financial Position** ## **31 March 2022** |**31**|**March 2022**|||| |---|---|---|---|---| |||**2022**||2021| ||**Note**|**£**|**£**|£| |**Current assets**||||| |Cash at bank and in hand||**82,225**||38,271| |||---------------------------||---------------------------| |**Net current assets**|||**82,225**|38,271| ||||---------------------------|---------------------------| |**Total assets less current liabilities**|||**82,225**|38,271| ||||===========================|===========================| |**Funds of the charity**||||| |Unrestricted funds|||**82,225**|38,271| ||||---------------------------|---------------------------| |**Total charity funds**|**9**||**82,225**|38,271| ||||===========================|===========================| For the year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: - The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. These financial statements were approved by the board of trustees and authorised for issue on 11[th] January 2023, and are signed on behalf of the board by: ## **M Norton Trustee** **The notes on pages 9 to 12 form part of these financial statements.** **- 8 -** **Memusi Foundation** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** ## **Year ended 31 March 2022** ## **1. General information** The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 1 John Charles Way, Gelderd Way, Gelderd Road, Leeds, LS12 6QA, West Yorkshire. ## **2. Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. **- 9 -** ## **Memusi Foundation** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2022** ## **3. Accounting policies** _**(continued)**_ ## **Incoming resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. ## **Financial instruments** A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. **- 10 -** ## **Memusi Foundation** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2022** ## **3. Accounting policies** _**(continued)**_ ## **Financial instruments** _**(continued)**_ Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. ## **4. Limited by guarantee** The charity is registered as a company limited by guarantee. The liability of the trustees (directors) is limited to the maximum amount of £1. ## **5. Donations and legacies** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2022**|Funds|2021| ||£|**£**|£|£| |**Donations**||||| |General funds|221,774|**221,774**|188,397|188,397| ||================================|================================|================================|================================| **- 11 -** ## **Memusi Foundation** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2022** ## **6. Costs of raising donations and legacies** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2022**|Funds|2021| ||£|**£**|£|£| |Charitable activities|177,820|**177,820**|219,791|219,791| ||================================|================================|================================|================================| ## **7. Staff costs** The total staff costs for the reporting period was £47,330 (2021: £48,524). The average head count of employees during the year was 37 (2021: 36). No employee received employee benefits of more than £60,000 during the year (2021: Nil). ## **8. Trustee remuneration and expenses** No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. ## **9. Analysis of charitable funds** ## **Unrestricted funds** |**Unrestricted funds**||||||| |---|---|---|---|---|---|---| |||||||**At**| |||At|||**31 March**|**20**| ||1|April 2021|Income|Expenditure||**22**| |||£|£|£|**£**|| |General funds||38,271|221,774|(177,820)|
**82,225**|| |||===========================|================================|================================|===========================|| |||||||At| |||At|||31 March|20| ||1|April 2020|Income|Expenditure||21| |||£|£|£|£|| |General funds||69,665|188,397|(219,791)|
38,271|| |||===========================|================================|================================|===========================|| **- 12 -**