**44 York Road, Bristol BS6 5QF, United Kingdom** _**REGISTERED CHARITY NO: 1137120**_ **EXPAND AUDITED FINANCIAL STATEMENTS** (REGISTERED CHARITY NUMBER: 1137120) ## **FOR THE YEAR ENDED 31 MARCH 2021** 1 **44 York Road, Bristol BS6 5QF, United Kingdom** _**REGISTERED CHARITY NO: 1137120**_ ## **TABLE OF CONTENTS** TRUSTEES REPORT **...................................................................................................................** 3 STATEMENT OF PROJECT MANAGEMENT RESPONSIBILITIES **...................................** 7 STATEMENT OF FINANCIAL ACTIVITIES **.............................................................................** 8 STATEMENT OF FINANCIAL POSITION **................................................................................** 9 NOTES TO THE FINANCIAL STATEMENTS **........................................................................** 10 2 **44 York Road, Bristol BS6 5QF, United Kingdom** _**REGISTERED CHARITY NO: 1137120**_ ## **FINANCIAL STATEMENTS** For the year ended 31 March 2021 ## **1. Trustee’s Report** The Trustees have pleasure in submitting their report together with audited financial statements For the year ended 31 March 2021. The organisation operated mainly in the Northern part of Malawi, specifically in the two districts of Mzimba and Nkhata Bay. Expand continues to assist two primary schools, one being Chisala FP School in Nkhata Bay and the other is Mkoko Primary School in Kalungulu Village, Mzimba District. Expand continued supporting three salaries at Chisala Primary school that includes a charity project manager to oversee the activities on the ground, a librarian who is managing the literacy boost scheme, and one guard to protect the assets at the school. We let go one of the guards in July as the school is becoming more independent now, and all severance was paid. The teachers continue to be funded by the Government of Malawi and the new Deputy Ministry of Education visited Chisala school in September 2020, touted by the District Education Manager as an example of a model rural school. We are very proud of this visit by the new Minister under the new government. Whilst Chisala struggles with high teacher:pupil ratios, we are proud to be very much on the map of the Ministry of Education. Trustee, Tanya Clarke, was also invited to a private meeting with the Minister in the Capital Lilongwe to congratulate her on achievements made on the ground. This was a covid19 year and the number of donors were affected by the pandemic. However, one donor remained committed to us and we were able to continue with construction at Mkoko. 3 **44 York Road, Bristol BS6 5QF, United Kingdom** _**REGISTERED CHARITY NO: 1137120**_ In construction at Chisala, Expand did the following projects: - **March-** repaired the severely leaking water tank at the health clinic. - **March-** wired a section of the clinic that was not connected to electricity, and paid to have the clinic connected to mainline electricity. This has been a game-changer for the clinic, and is a benefit of having mainline electricity finally passing through the Chisala trading centre. - **April-** The schools in Malawi closed due to Covid19 from April to October 2020, but the library remained open for the students as part of the community centre component. The chiefs, teachers and school committees received covid19 training from government, ranging from making masks and receiving sanitisers and learning about what the disease is. - **July-** We installed a new LED 32inch TV at the school to help in the library show films and documentaries. The existing TV was old and the new solar system powers it. - **September-** Expand also helped replace the primary school water tank as it was leaking badly. - **November-** constructed two primary school toilets as the old ones were full and needed to be replaced. - **January 2021,** we paid university fees for Nenengeza, the Chisala graduate, who is studying a Bachelor’s of Science in nursing. We bought her a laptop and uniform. She is doing very well and we have high hopes for her. - **February 2021,** due to pressure from teachers, we decided to turn the sports centre into two teachers houses with kitchens that allowed for two teachers and their families to be housed. 4 **44 York Road, Bristol BS6 5QF, United Kingdom** ## _**REGISTERED CHARITY NO: 1137120**_ Left to right: Sports centre conversion; new water tank at the health clinic Left to right: Electricty connection to houses and clinic; Nenengeza our university student! Mkoko continues to go from strength to strength and this small school promises to yield the next President of Malawi! With a student teacher ratio of 8:1, this is a unique opportunity for Malawian students. Chisala is the opposite with around 100:1 ratio, and children really struggle to get the attention they need. Expand received kind donations from Citrefine International Ltd (CIL) in the UK for its projects this year. St Giles International Ltd was hit hard by Covid19 and sadly could not contribute but we maintain excellent relations with them and hope to see them recover and thrive. www.citrefine.com In this year Expand did the following for Mkoko in association with one donor, Citrefine International Ltd: 5 **44 York Road, Bristol BS6 5QF, United Kingdom** _**REGISTERED CHARITY NO: 1137120**_ - Continued to support 3 teachers salaries to compliment the teachers provided by government - Constructed a block with 2 classrooms for Standards 7 and 8 to complete the school - Bought 3 laptops for the IT centre - Paid for maize for the feeding programme 6 **44 York Road, Bristol BS6 5QF, United Kingdom** _**REGISTERED CHARITY NO: 1137120**_ ## **1.2 EXPAND REGISTERED TRUSTEES** The registered trustees for the charity are as follows: - Ms Tanya Clarke- British but resident in Malawi - Ms Tamsin Clarke- British resident in UK - Mr Brendan Costelloe- British resident in UK - Mr Nebson Chiloko- Malawian resident in Malawi ## **1.3 BY ORDER OF THE BOARD** _____________________________ Tanya Clarke, Head Trustee ## **2. Statement of Project Management Responsibilities** The Project Management accepts responsibility for the financial statements presented in this report, which has been prepared using appropriate accounting policies supported by reasonable and prudent judgments and estimates, in conformity with the requirements of the project. The Project Management further accepts responsibility for the maintenance of the accounting records, which may be relied upon in the preparation of financial statements, as well as adequate systems of internal financial control. ____________________________ **----- Start of picture text -----**
__________________________
**----- End of picture text -----**
Tanya Clarke Head trustee Yolanda Nalikungwi Accountant 7 **44 York Road, Bristol BS6 5QF, United Kingdom** _**REGISTERED CHARITY NO: 1137120**_ ## **3. Statement of Financial Activities** |**Notes**
**INCOME**
Grant income
5.3
Credit Interest
**Expenditure**
Donation expense
Projects expenditure
**Deficit/surplus for the year**
**Opening balance**
**Closing balance**
5.4|**2021**
£
45,405.52
33.21
258
19,200.00
25,980.73
25,980.73
10,563.89
36,544.62|**2020**
£
22,673.10|**2020**
£
22,673.10|**2020**
£
22,673.10|**2020**
£
22,673.10| |---|---|---|---|---|---| |||0.00
258
19,288
3,127.10
3,127.10
7,436.79
10,563.89|0.00
258
19,288
3,127.10|0.00
258
19,288|0.00| ||||3,127.10
7,436.79||| ______________________ Tanya Clarke Head Trustee ________________________ Yolanda Nalikungwi Accountant (Sildi Ltd) 8 **44 York Road, Bristol BS6 5QF, United Kingdom** _**REGISTERED CHARITY NO: 1137120**_ ## **FINANCIAL STATEMENTS** _For the year ended 31 March 2021_ ## **4. Statement of Financial Position** _As at 31 March 2021_ |**Notes**
**Current assets**
Cash at bank and in hand
5.4
Loan
5.5
**Net assets**|**2021**
£
36,544.62
555.00
11,118.89|**2020**
£
10,563.89
555.00
11,118.89| |---|---|---| 9 **44 York Road, Bristol BS6 5QF, United Kingdom** _**REGISTERED CHARITY NO: 1137120**_ ## **FINANCIAL STATEMENTS** ## **5. Notes to the Financial Statements** For the year ended 31 March 2021 ## **5.1 General** Expand is an organisation that focuses on education and infrastructure development at its project sites in Malawi. Its activities span building classrooms blocks and teachers houses, installation of clean potable water solutions, school bursary schemes and literacy/ IT boost projects. The funds are raised by donations in the UK and through income generating activities in Malawi. Funds from UK are sent through the banking system for complete transparency. Expand has no assets and all funds go straight to work on the ground. Trustees are unpaid and even expenses are often not reimbursed. The aim is to have nearly all the funds raised go to the work on the ground in Malawi. ## **5.2 Accounting Policies** The significant accounting policies adopted in the preparation of these financial statements are set out below: ## **(i) Basis of preparation** The financial statements, expressed in the British Pounds (£), have been prepared under the historical cost convention using cash accounting. ## **(ii) Income and expenditure** Income and expenditure are accounted for when actual received or paid. ## **(iii) Cash and cash equivalents** Cash equivalents consists of short term, highly liquid investments which are readily convertible into known amounts of cash without notice and which were within three months of maturity when acquired; less advances from banks repayable within three months from the date of the advance. Project advances are also included as cash and cash equivalents. ## **(iv) Foreign currency** The functional currency of the country of expenditure is Malawi Kwacha. Transactions in other currencies are recorded at the rate of exchange prevailing on the date of the transaction. 10 **44 York Road, Bristol BS6 5QF, United Kingdom** ## _**REGISTERED CHARITY NO: 1137120**_ ## **(v) Expenditure** Expenditure represents the funds disbursed. ## **(vi) Capital expenditure** Capital expenditure is expensed towards the cost of the project. ## **5.3 Grant income** Grant income represents funds transferred from Expand UK to Malawi bank account. The staff loan will be repaid this year in GBP to the Expand account. |**5.4**
**Cash and cash equivalent**
Bank balance
**5.5**
**Loan**
Staff loan|**2021**
£
45,405.52
36,544.62
555.00|**2020**
£
22,673.10
10,563.89|**2020**
£
22,673.10
10,563.89| |---|---|---|---| ||||555.00| 11 ## **EXPAND CHARITY ACCOU** ## **PERIOD ENDED 31/03/21** ## **BANK** ## **DATE** 04/04/2016 04/04/2016 05/04/2016 22/04/2016 26/04/2016 27/04/2016 28/04/2016 04/05/2016 17/05/2016 19/05/2016 19/05/2016 25/05/2016 01/06/2016 07/06/2016 14/06/2016 22/06/2016 27/06/2016 27/06/2016 30/06/2016 30/06/2016 05/07/2016 25/07/2016 26/07/2016 26/07/2016 02/08/2016 16/08/2016 22/08/2016 22/08/2016 22/08/2016 22/08/2016 24/08/2016 25/08/2016 26/08/2016 26/08/2016 26/08/2016 06/09/2016 06/09/2016 13/09/2016 14/09/2016 20/09/2016 21/09/2016 26/09/2016 27/09/2016 18/10/2016 21/10/2016 26/10/2016 27/10/2016 08/11/2016 09/11/2016 15/11/2016 16/11/2016 16/11/2016 16/11/2016 25/11/2016 28/11/2016 06/12/2016 20/12/2016 28/12/2016 29/12/2016 10/01/2017 26/01/2017 02/02/2017 07/02/2017 14/02/2017 27/02/2017 28/02/2017 07/03/2017 14/03/2017 15/03/2017 15/03/2017 22/03/2017 22/03/2017 22/03/2017 27/03/2017 27/03/2017 29/03/2017 29/03/2017 04/04/2017 11/04/2017 27/04/2017 27/04/2017 03/05/2017 03/05/2017 23/05/2017 25/05/2017 31/05/2017 06/06/2017 13/06/2017 27/06/2017 27/06/2017 27/06/2017 07/04/2017 04/07/2017 21/07/2017 26/07/2017 27/07/2017 01/08/2017 25/08/2017 30/08/2017 30/08/2017 05/09/2017 25/09/2017 26/09/2017 27/09/2017 03/10/2017 24/10/2017 26/10/2017 30/10/2017 31/10/2017 13/11/2017 21/11/2017 27/11/2017 28/11/2017 05/12/2017 19/12/2017 27/12/2017 29/12/2017 05/01/2018 16/01/2018 23/01/2018 26/01/2018 05/02/2018 13/02/2018 20/02/2018 27/02/2018 27/02/2018 13/03/2018 23/03/2018 23/03/2018 23/03/2018 27/03/2018 27/03/2018 04/04/2018 04/17/2018 04/27/2018 05/08/2020 05/25/2020 05/30/2020 05/30/2020 06/05/2018 06/27/2018 06/27/2018 07/03/2018 07/26/2018 07/27/2018 07/31/2018 08/14/2018 08/14/2018 08/28/2018 08/29/2018 09/11/2018 09/25/2018 09/27/2018 10/02/2018 10/23/2018 10/25/2018 10/25/2018 10/30/2018 11/13/2018 11/26/2018 11/27/2018 11/29/2018 12/04/2018 12/04/2018 12/05/2018 12/18/2018 12/27/2018 12/27/2018 12/31/2018 01/14/2019 01/25/2019 01/25/2019 02/04/2019 02/19/2019 02/25/2019 02/27/2019 02/28/2019 03/19/2019 03/25/2019 03/25/2019 03/27/2019 04/05/2019 04/09/2019 04/11/2019 04/11/2019 04/17/2019 04/24/2019 04/25/2019 05/01/2019 05/01/2019 05/14/2019 05/16/2019 05/21/2019 05/28/2019 05/28/2019 05/29/2019 06/04/2019 06/10/2019 06/10/2019 06/25/2019 06/27/2019 06/27/2019 07/16/2019 07/22/2019 07/25/2019 07/30/2019 08/20/2019 08/27/2019 08/27/2019 08/28/2019 09/17/2019 09/24/2019 09/25/2019 10/15/2019 10/25/2019 10/25/2019 10/29/2019 11/18/2019 11/25/2019 11/27/2019 12/16/2019 12/27/2019 12/30/2019 01/14/2020 01/21/2020 01/21/2020 01/27/2020 01/27/2020 01/29/2020 02/05/2020 02/05/2020 02/14/2020 02/17/2020 02/17/2020 02/18/2020 02/25/2020 02/26/2020 03/16/2020 03/23/2020 03/25/2020 03/31/2020 07/04/2020 15/04/2020 27/04/2020 27/04/2020 12/05/2020 19/05/2020 20/05/2020 20/05/2020 26/05/2020 26/05/2020 28/05/2020 29/05/2020 04/06/2020 15/06/2020 19/06/2020 25/06/2020 01/07/2020 13/07/2020 27/07/2020 27/07/2020 29/07/2020 30/07/2020 18/08/2020 25/08/2020 26/08/2020 27/08/2020 21/09/2020 22/09/2020 25/09/2020 25/09/2020 25/09/2020 30/09/2020 21/10/2020 23/10/2020 26/10/2020 27/10/2020 28/10/2020 03/11/2020 18/11/2020 24/11/2020 25/11/2020 01/12/2020 09/12/2020 22/12/2020 24/12/2020 29/12/2020 29/12/2020 25/01/2021 27/01/2021 03/02/2021 10/02/2021 15/02/2021 17/02/2021 25/02/2021 17/03/2021 2210312021 2510312021 2510312021 3010312021 ## **NTS** ## **DESCRIPTION** OUR CHARGE FORGN PYT282186587 JUSTGIVING JUSTGIVING JUSTGIVING CAFGYE51000669489 JUST GIVING JUSTGIVING JUSTGIVING FORGN PYT284887867 OUR CHARGE JUST GIVING JUSTGIVING JUSTGIVING JUSTGIVING CITREFINE INTERNAT CAFGYE51000669489 JUST GIVING FORGN PYT287497137 OUR CHARGE JUSTGIVING JUST GIVING JUSTGIVING JUSTGIVING GIVING.COM JUSTGIVING FORGN PYT290467447 OUR CHARGE FORGN PYT290468377 OUR CHARGE VODAFONE LTD CAFGYE51000669489 O2 O2 JUST GIVING OUR CHARGE FORGN PYT291369387 JUSTGIVING CITREFINE INTERNAT JUSTGIVING VODAFONE LTD JUST GIVING CAFGYE51000669489 JUSTGIVING VODAFONE LTD JUST GIVING CAFGYE51000669489 JUSTGIVING RETURNED D/D JUSTGIVING DD REFUND 70249950 DD REFUND 37660769 REFUND OF DD CAFGYE51000669489 JUST GIVING JUSTGIVING JUSTGIVING JUST GIVING CAFGYE51000669489 JUSTGIVING JUST GIVING JUSTGIVING JUSTGIVING ST GILES SCHOOLS CAFGYE51000669489 JUST GIVING JUSTGIVING JUSTGIVING OUR CHARGE FORGN PYT214162857 OUR CHARGE FORGN PYT 11720357 CITREFINE INTERNAT JUST GIVING CAFGYE51000669489 FORGN PYT 11721414 OUR CHARGE **B/f Movement C/f 31/03/17 Per statement Difference** JUSTGIVING JUSTGIVING CAFGYE51000669489 JUST GIVING JUSTGIVING JUSTGIVING JUSTGIVING JUST GIVING JUSTGIVING JUSTGIVING JUSTGIVING JUST GIVING JUSTGIVING CAFGYE51000669489 JUSTGIVING JUSTGIVING JUSTGIVING JUST GIVING CAFGYE51000669489 JUSTGIVING CAFGYE51000669489 JUST GIVING JUSTGIVING JUSTGIVING JUST GIVING JUSTGIVING CAFGYE51000669489 JUSTGIVING JUSTGIVING JUST GIVING JUSTGIVING JUSTGIVING JUSTGIVING JUSTGIVING CAFGYE51000669489 JUST GIVING JUSTGIVING JUSTGIVING JUSTGIVING CAFGYE51000669489 JUST GIVING JUSTGIVING JUSTGIVING JUST GIVING ST GILES SCHOOLS JUSTGIVING JUSTGIVING JUST GIVING CAFGYE51000669489 JUSTGIVING OUR CHARGE CORRESPONDENT FEE FORGN PYT 11778504 JUST GIVING CAFGYE51000669489 JUSTGIVING **B/f Movement C/f 31/03/18 Per statement Difference** JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND CITREFINE INTERNATIONAL JUST GIVING EXPAND FUNDS TO MALAWI TRANSFER CHARGES JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING ST GILES JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND **B/f Movement C/f 31/03/19 Per statement Difference** CITREFINE INTERNATIONAL JUST GIVING EXPAND FUNDS TO MALAWI BANK CHARGES TRANSFER JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND PAUL CLARKE DONATION TO MALAWI TRANSFER CHARGES JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING JUST GIVING EXPAND **B/f Movement C/f 31/03/20 Per statement Difference** JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND GIVING.COM JUST GIVING EXPAND JUST GIVING EXPAND DONATION TO MALAWI BANK CHARGE JUST GIVING EXPAND GIVING.COM JUST GIVING EXPAND CITREFINE INTERNATIONAL JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND GIVING.COM JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND GIVING.COM JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND GIVING.COM GIVING.COM CREDIT INTEREST DONATION TO MALAWI BANK CHARGE CREDIT INTEREST JUST GIVING EXPAND GIVING.COM CREDIT INTEREST GIVING.COM JUST GIVING EXPAND GIVING.COM CREDIT INTEREST GIVING.COM GIVING.COM JUST GIVING EXPAND JUST GIVING EXPAND GIVING.COM GIVING.COM JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND JUST GIVING EXPAND GIVING.COM GIVING.COM JUST GIVING EXPAND GIVING.COM JUST GIVING EXPAND JUST GIVING EXPAND GIVING.COM GIVING.COM JUST GIVING EXPAND CITREFINE INTERNATIONAL MKOKO DONATION GIVING.COM GIVING.COM JUST GIVING EXPAND B/f Movement C/f 31/03/21 Per statement Difference |**PAYMENT**|**RECEIPT**|**Opening donationDonation income**|**Charges**| |---|---|---|---| |(15.00)|||(15.00)| |(1,000.00)|||| ||55.00|55.00|| ||10.31|10.31|| ||3,055.00|3,055.00|| ||4.80||| |(18.00)|||(18.00)| ||10.00|10.00|| ||572.64|572.64|| |(800.00)|||| |(15.00)|||(15.00)| |(18.00)|||(18.00)| ||45.00|45.00|| ||38.54|38.54|| ||10.31|10.31|| ||2,400.00|2,400.00|| ||9.60|-|| |(18.00)|||(18.00)| |(2,400.00)|||| |(15.00)|||(15.00)| ||65.00|65.00|| |(18.00)|||(18.00)| ||10.31|10.31|| ||45.00|45.00|| ||10.00|10.00|| ||10.31|10.31|| |(50.00)|||| |(15.00)|||(15.00)| |(500.00)|||| |(15.00)|||(15.00)| |(115.75)|||(115.75)| ||9.60||| |(36.00)|||(36.00)| |(36.00)|||(36.00)| |(18.00)|||(18.00)| |(15.00)|||(15.00)| |(8,000.00)|||| ||100.00|100.00|| |1,130.00
10.31
(115.75)
(18.00)
4.80
8.44
(115.75)
(18.00)
4.80
110.00
(35.00)
12.18
347.25
36.00
35.00
4.80
(18.00)
10.00
10.31
(18.00)
4.80
55.00
(18.00)
10.31
55.00
4,791.77
9.60
(18.00)
55.00
10.31
(15.00)
(50.00)
(28.00)
(6,000.00)
19,822.00
(18.00)
4.80
(20,000.00)
(28.00)
**(39,631.25) 33,003.90**|1,130.00
10.31
(115.75)
(18.00)
-
8.44
(115.75)
(18.00)
4.80
110.00
(35.00)
12.18
347.25
36.00
35.00
-
(18.00)
10.00
10.31
(18.00)
4.80
55.00
(18.00)
10.31
55.00
4,791.77
-
(18.00)
55.00
10.31
- (15.00)
-
- (28.00)
19,822.00
(18.00)
(28.00)| |---|---| ||**- 32,537.65(413.00)**| 7,689.92 (6,627.35) 1,062.57 1,062.57 0.00 ||10.31|10.31|| |---|---|---|---| ||98.75|98.75|| ||4.8||| |(18.00)|||(18.00)| ||10.31|10.31|| ||10|10|| ||505.63|505.63|| |(18.00)|||(18.00)| ||179.86|179.86|| ||178.34|178.34|| ||53.75|53.75|| |(18.00)|||(18.00)| ||99.36|99.36|| ||9.6||| ||116.53|116.53|| ||10|10|| ||8.23|8.23|| |(18.00)|||(18.00)| ||4.8||| ||53.75|53.75|| ||8||| |(18.00)|||(18.00)| ||5.62|5.62|| ||53.75|53.75|| |(18.00)|||(18.00)| ||5.62|5.62|| ||8||| ||53.75|53.75|| ||1,000.00|1,000.00|| |(18.00)|||(18.00)| ||43.75|43.75|| ||5.62|5.62|| ||53.75|53.75|| ||180.62|180.62|| ||19.2||| |(18.00)|||(18.00)| ||10|10|| ||5.62|5.62|| ||43.75|43.75|| ||9.6||| |(18.00)|||(18.00)| ||53.75|53.75|| ||5.62|5.62|| |(18.00)|||(18.00)| ||7,628.63|7,628.63|| ||251.45|251.45|| ||5.62|5.62|| (18.00) ||| |---|---| |(18.00)
9.6
55
(21.00)
(20.00)
(10,000.00)
(18.00)
19.2
10
**(10,257.00) 10,899.54**|(18.00)
55
(21.00)
(20.00)
(18.00)
10| ||**- 10,806.74(257.00)**| |1,062.57|||| |---|---|---|---| |642.54|||| |1,705.11|||| |1,705.11|||| |0.00|||| ||10.31|10.31|| |(18.00)|||(18.00)| ||100.00|100.00|| ||9.60|9.60|| ||10.31|10.31|| |(18.00)|||(18.00)| ||10.00|10.00|| ||9.60|9.60|| |(18.00)|||(18.00)| ||55.00|55.00|| |(18.00)|||(18.00)| ||9.60|9.60|| ||45.00|45.00|| ||20.62|20.62|| ||55.00|55.00|| ||9.60|9.60|| |(18.00)|||(18.00)| ||55.00|55.00|| |(18.00)|||(18.00)| ||9.60|9.60|| ||10.00|10.00|| ||20.62|20.62|| ||9.60|9.60|| |(18.00)|||(18.00)| ||45.00|45.00|| ||55.00|55.00|| |(18.00)|||(18.00)| ||19.20|19.20|| ||6,372.50|6,372.50|| ||10.00|10.00|| |(7,000.00)|||| |(21.00)
10.31
42.75
(18.00)
9.60
52.25
9.60
(18.00)
5,740.81
52.25
(18.00)
9.60
23.75
52.25
4.75
(18.00)
9.60
**(7,237.00) 12,968.68**|(21.00)
10.31
42.75
(18.00)
9.60
52.25
9.60
(18.00)
5,740.81
52.25
(18.00)
9.60
23.75
52.25
4.75
(18.00)
9.60| |---|---| ||12,968.68(237.00)| 1,705.11 5,731.68 7,436.79 7,436.79 - ||5,316.00|5,316.00|| |---|---|---|---| ||590.94|590.94|| |(12,800.00)|||| |(21.00)|||(21.00)| ||179.29|179.29|| ||170.96|170.96|| |(18.00)|||(18.00)| ||19.00|19.00|| ||53.35|53.35|| ||146.24|146.24|| ||166.20|166.20|| ||160.07|160.07|| ||19.20|19.20|| |(18.00)|||(18.00)| ||58.46|58.46|| ||368.52|368.52|| ||81.28|81.28|| ||10.05|10.05|| |(18.00)|||(18.00)| ||9.60|9.60|| ||141.30|141.30|| ||71.67|71.67|| ||24.93|24.93|| |(18.00)
20.62
52.25
10.69
(18.00)
19.20
52.25
13.06
(18.00)
52.25
19.20
(18.00)
735.55
52.25
(18.00)
9.60
52.25
(18.00) -
9.60
178.12
28.50
52.25
9.60
(18.00)
23.74
3,564.44
10.69
10,000.00
(6,488.00)
(21.00)
52.25
(18.00)
2.37
10.69
52.25
(18.00)
2.37
**(19,546.00) 22,673.10**|(18.00)
20.62
52.25
10.69
(18.00)
19.20
52.25
13.06
(18.00)
52.25
19.20
(18.00)
735.55
52.25
(18.00)
9.60
52.25
(18.00)
9.60
178.12
28.50
52.25
9.60
(18.00)
23.74
3,564.44
10.69
10,000.00
(21.00)
52.25
(18.00)
2.37
10.69
52.25
(18.00)
2.37| |---|---| ||**22,673.10(258.00)**| |7,436.79|||| |---|---|---|---| |3,127.10|||| |10,563.89|||| |10,563.89|||| |-|||| ||10.69|10.69|| ||52.25|52.25|| ||28.80|28.80|| |(18.00)|||(18.00)| ||13.06|13.06|| |---|---|---|---| ||52.25|52.25|| |(10,200.00)|||| |(21.00)|||(21.00)| ||2.37||| |(18.00)|||(18.00)| ||9.60|9.60|| ||9,227.35|9,227.35|| ||10.69|10.69|| ||52.25|52.25|| ||2.37||| |(18.00)|||(18.00)| ||10.69|10.69|| ||52.25|52.25|| ||19.20|19.20|| |(18.00)|||(18.00)| ||10.69|10.69|| ||2.37||| ||52.25|52.25|| |(18.00)|||(18.00)| ||2.37||| ||9.60|9.60|| |(9,000.00)|||| |(21.00)|||(21.00)| ||9.60|9.60|| ||28.50|28.50|| |(18.00)|||(18.00)| ||4.75||| ||2.37||| ||13.06|13.06|| |(18.00)|||(18.00)| ||9.60|9.60|| ||4.75||| ||28.50|28.50|| ||2.37||| ||4.75||| |(18.00)|||(18.00)| ||28.50|28.50|| ||2.37||| ||4.75|4.75|| ||28.50|28.50|| ||19.20|19.20|| |(18.00)|||(18.00)| |(18.00)|||(18.00)| ||9.60|9.60|| ||2.37||| ||4.75|4.75|| ||57.00|57.00|| ||7.12|7.12|| |(18.00)|||(18.00)| ||7.12|7.12|| |35,500.00
- 9.60
(18.00)
28.50
**(19,458.00) 45,438.73**|35,500.00
9.60
(18.00)
28.50| |---|---| ||**45,405.52(258.00)**| 10,563.89 25,980.73 36,544.62 36,544.62 - ## **Donation expenseDonation to MalawiTanya ClarkeCredit Interest** (1,000.00) 4.80 - (800.00) 9.60 (2,400.00) - (50.00) (500.00) 9.60 - (8,000.00) - 4.80 - 4.80 9.60 - (50.00) (6,000.00) 4.80 (20,000.00) **- (38,800.00) - 48.00** 19.2 9.6 (10,000.00) 19.2 **- (10,000.00) - 92.80** (7,000.00) - (7,000.00) (12,800.00) (6,488.00) **- (19,288.00) -** (10,200.00) 2.37 2.37 2.37 2.37 (9,000.00) 4.75 2.37 4.75 2.37 4.75 2.37 2.37 **- (19,200.00) - 33.21** ## **EXPAND CHARITY ACCOUNTS** ## **PERIOD ENDED 31/03/11** ## **TB - 09/08/10 to 31/03/11** |Donation income
Donation expense
Opening donation
Charges
Donation to Malawi
Bank
Proft|**DR**
**CR**
10,653.82
88.10
5,371.37
82.00
2,000.00
13,855.09| |---|---| ||**16,025.19**
**###**| ||13,855.09| ## **TB - Y/E 31/03/12** |Donation income
Donation expense
Opening donation
Charges
Donation to Malawi
Bank
Fund b/f
Proft
**TB - Y/E 31/03/13**
Donation income
Donation expense
Opening donation
Charges
Donation to Malawi
Bank|**DR**
**CR**
25,646.52
10,000.00
237.00
29,264.61
13,855.09| |---|---| ||**39,501.61**
**###**| ||15,409.52
**DR**
**CR**
10,946.62
28,739.00
278.00
10,639.23| |Loan to TC
Fund b/f
Defcit
**TB - Y/E 31/03/14**
Donation income
Donation expense
Opening donation
Charges
Donation to Malawi
Bank
Loan to TC
Fund b/f
Defcit
**TB - Y/E 31/03/15**
Donation income
Donation expense
Opening donation
Charges
Donation to Malawi
Bank
Loan to TC
Fund b/f
Proft
**TB - Y/E 31/03/16**
Donation income
Donation expense
Opening donation|555.00
29,264.61| |---|---| ||**40,211.23**
**###**| ||(18,070.38)
**DR**
**CR**
9,491.31
10,035.00
258.00
9,837.54| ||555.00
11,194.23| ||**20,685.54**
**###**| ||(801.69)
**DR**
**CR**
16,974.49
14,800.00
267.00
11,745.03
555.00
10,392.54| ||**27,367.03**
**###**| ||1,907.49
**DR**
**CR**
9,235.89
-| |Charges
Donation to Malawi
Bank
Loan to TC
Fund b/f
Defcit
TB - Y/E 31/03/17
Donation income
Credit interest
Opening donation
Charges
Donation to Malawi
Bank
Loan to TC
Fund b/f
Defcit
TB - Y/E 31/03/18
Donation income
Credit Interest
Opening donation
Charges
Donation to Malawi
Bank
Loan to TC
Fund b/f
Surplus
**TB - Y/E 31/03/19**
Donation income
Donation expense
Opening donation
Charges
Donation to Malawi
Bank
Loan to TC
Fund b/f|291.00
13,000.00
7,689.92
555.00
12,300.03
**21,535.92**
**###**
(4,055.11)
32,537.65
48.00
413.00
38,800.00
1,062.57
555.00
8,244.92
**40,830.57**
**###**
-
(6,627.35)
10,806.74
92.80
257.00
10,000.00
1,705.11
555.00
1,617.57
**12,517.11**
**###**
642.54
12,968.68
237.00
7,000.00
7,436.79
555.00
2,260.11
**15,228.79**
**###**| |---|---| ||Surplus
|5,731.68||| |---|---|---|---|---| |**TB - Y/E 31/03/20**||||| |Donation income|||22,673.10|| |Donation expense||||| |Opening donation||||| |Charges||258.00||| |Donation to Malawi||19,288.00||| |Bank||10,563.89||| |Loan to TC||555.00||| |Fund b/f|||7,991.79|| |||**30,664.89**|**###**|| ||SURPLUS|3,127.10||| |**TB - Y/E 31/03/21**||||| |Donation income|||45,405.52|| |Credit interest|||33.21|| |Donation expense||||| |Opening donation||-||| |Charges||258.00||| |Donation to Malawi||19,200.00||| |Bank||36,544.62||| |Loan to TC||555.00||| |Fund b/f||-|11,118.89|| |||**56,557.62**|**###**|-| ||SURPLUS|25,980.73||| |||||-| RSM ¢orrespondenl firm in Malawi e /pand EXPAND UNAUDITED FINANCIAL STATEMENTS {The registered chanty NO. 11371201 For the yearended 31 March 2021 Auditconsult. EXPAND (The registered charity NO.. 11371201 FINANCIAL STATEMENTS For the year8nded 31 March 2021 Table of Contonts Pago Report of tho Indewnd•nt Audltor on tho Agro•d Upon Procedurns of Expand Slat•ment ol ProlerA Managoment Responslbllltes Ind•ppnd•nl Audltoffs Report to the Boavd of Expand Statement of Flnan¢lal Actlvllh$ Statement of Flnanclal Posttlon Notes to the Flnanclal Stat¢mfrnts General 6.2 Accounting policies 6.3 Grant income 6.4 Detailed project expenditure according to budget lines Cash and cash equivalents 13 13 14 14 14 Report of th• Independent Audltor on Verllkatlon of Operntlon$ Compllance wlth Natlonal Laws and Regulatlons Introduction 7.2 Scope and work perfomied Findings Condusion Report on Our Evaluatlon of Intsrnal Controls Introductron Scope and work performed 8.3 Findings Concluslon 10 10 10 10 10 Roport on Our Revlow of Project Expendlthre Introduction Scope and work perfomed 9.3 Findings Conctusion 11 11 11 11 11 Auditconsult. Keza Offir£ Park, Block 3 First Floor, East wing. P.0. Box 14C6 Bl•ntyre. Malawl Tel.. +265 1873 855 1 +265 1873 8W +265 1873 752 Email: audilconsult audilconsult.mw Website: ￿¥W.aUd1tconsUllrnw Report of the Independent Audltor on the Agrwd Upon Procedur•s Audlt of Expand Malawi 1.1 Introductk•n We were engaged to perfonn an A4reed UPC￿ Prc¢edures Audit of Expand for the year ended 31 March 2021 in accordance with the engagement letter dated 11 May 2021 behveen Expand and Audit ConsulL The Agreed Upon Prctedures audit was undertaken to address the folkwing specific objectives". To perform an audit in accordance with Intemational Standards on Auditing in order to provide an opinion on the truth and faimess of the financial statements for the year ended 31 March 2021-, To confirm that the Expand MaLThi in cornp1k1n￿ with the relevarrt project d¢xuments and applicable regulations" To report on significant c¢)ntrol T4Nwkrtesses and make re0Xn￿ndations to address these weaknesses as appropriate" aTh Th• financial statements and the estatslshment of an effeclprfe system of Intemal ￿>ntrOl5 arè the responsibilty of Management. This reporL including the opinron, is furnished solely for the inlom)ation of the Board of Directors of Expand and the Management and should be used only fcy this purp)se. We do not in giving opinK>n. accept or assume resFonsibility for any other purpose or to any other person to whom this report is shown or into whose haThJs it may come. except where expressly agreed by (yJr prior consent in ¥niting. 12 Scope We planned to conduct wr audit as folkmts: Audit of the project financial statements in acc(Kdan￿ with International Standards on Auditing, ISA 700. Verification of the operation$. COMPKan￿ with national laws arKI regulaiions. Evaluation of intemal controls in ￿￿)r￿arte with Intemational Standards appllcabbe to Assurance Engagements ISAE 3000. Audit of Project expenditure in accordance ￿￿th International Standards ISRS 4400 1.3 Reportino We have presented our report as follows: Audit of the financial statements (Section 4) Verification of the partnerlproje¢t operatK)ns' compliance with national laT4VS and regulations (Section 8) Evaluation of intemal controls {SectKin 9) Project expenditure report (Section 10) 1.4 Summary of Concluslons Audit ot thé finanelal slatemgnts.. Our opinion on the financial statements for the yéar ended 31 March 2021 is unqualified. Review of project'8 complianco with thè projoct agreem•nts, national laws and regulation: Nothing has come to our attention that indicates that the partners dtd not comply with national laws and regulations. Evaluatlon of internal control8: Notr¢ing has corne to our attention th* indicates that intsmal controls were not properly designed or placed in operation during the ye8r. Review of project expondllure: Nothing has corne tt) our attention that indicates that the costs Charged to the project are not elSgible under the conditions set out in the grant contract. Audltconsult. Chartered Accountants Isaac Kayira, CA (MI, MBA Blantyre 8 December 2021 The parinership's rxincip81 place d t¥J$iness is K8z¥ Office P*k. Near Ch￿h1￿ ShopwTrg Mall. Blantyre, Malawi Whwe a hslof p￿tner'S names affillallon5 15 aYailat4e ffx kispecticn EXPAND (rhe regISter￿j charity NO.. 11371201 FINANCIAL STATEMENTS F¢Yth8 y8arend8d 31 March 2021 2. Ststsment of Prolect Management R￿P￿￿b￿lI1eS The Project Managementaccepts resFrMbilty ft)rthe finarKial stateffthts pres￿ted in this report vthich has been prepared using appropriate accountin9 pdici8S SUPPOrted by reaxThble and prudenl judgments and estimates, in Confomity with the requirements of the projecL The Managementfvrther8c£epts resFrfYssibli ty for the Maintenan￿ ofthe ￿u￿ting records, which may be relied up)n in the preparab.on of financial stslements. as well as adequate Systems of intemal finan￿al control. Tanrd Clarf(e Project Coonllnator Yolanda Nali un Accountsnt- Slldl Llmlted 8 December 2021 Auditconsult. Keza offi￿ ParK Block 3 Fyst Floor, East ￿n9, P.0. Box 1406 Blantyre, Malawl Tel.. +265 1873 8551 +265 1873 8561 +265 1873 752 Email: audilconsult auditconsult.rr W•b8tt•.' wvrn.auditwnsulLmw I Indopondont Auditorfs Report to th• BO•￿ of Expnd Oplnlon In our oplnlon. The financial Statem￿ pr￿n1 laity the adivibes aTrJ status of the proied for th8 year endgd 31 March 2021,. The ffinancial statements are maintained, ar¥J the acbvibes of the organisation operat￿)n$ are being conducted. in ￿￿rdance with l¢¢al finance and tax laws and regulations in Malaw and.. . The internal c¢)ntrols w￿e WOFerty desyned and pkced in owalK>n dunng the year. Ba8ls for Oplnlon We conducted our a￿lIt In accordan￿ with Internati(Thl Slandards t)n A￿111￿19 (ISAS). Our responsibilities under those standards are fijrther descrited in the A￿dItO￿$ Res￿nsIbIlitieS for the Audit of the financial ststements section of our report We are nidependent of the Project operations aThl management in accordan¢e with the 1ftterna￿naI EthKA Standards Board for Accountants. Ccde of Ethics for ProfessKinal Accountants IIESBA Code). and we have fulfjlled our other ethical responsibiliti8S in accordan￿ with the IESBA C¢)de. We b￿￿e that the audil evidence we have obtained is sufficient and appropriate to provide a basis for fjjr ￿EnIOn. R•sponslbllliles of M•nagemwrt and tho•e Ch•v98d with G￿￿￿￿cefOrth• Finan¢i•l Statements The Management is responsible for the p￿[￿rat￿In and fair Fxesentation of the financial statements in a¢¢ofdance with IFRSS, and lor sl￿ intemal Cr￿ as management determines is n￿SSary to enable the preparation of finan¢taS statsments that a￿ free of material misstatemert whether due to fraud or error. Audltofs Responsibilities for the Audh of the Flnanclal Statements Our obJ"ectives are to obtain reasonable assurance at#)ut vthether the financial statements as a whole are free of material mkWatemen( whether due to fraud or erffx, and to issue an audito￿$ reE￿i that includes our opinion. Reasonab￿ assuran￿ is a hKJh ievd of ￿uran￿, but is not a guarantee that an audrt conducted in accordan￿ wrth ISAS will always detect a matenal misstatement when it exists. Mksststements e2n arise from fraLvJ or errty arKI are consKler&J material rf, individually or in aggre9ate, they coukl reasonably be expected to inflUer￿e the economt deu5ions of users tsken on the basis of these financial statements. AuditConsult• Chartored Accountsnts Isaac Kayira. CA {M}, M&4 Blantyre 8 De￿mber2o2l EXPAND (The registered charity NO: 11371201 FINANCIAL STATEMEpirs the y88rended 31 March 2021 4. STATEMENTS F114ANCIAL ACTMTIES 021 2020 COME Grant in¢(Kne other inccmo 45.405.52 22.673.10 73.10 Expendlture Donation expense Projects expenditure 258.00 258 19 458.00 Surplus for the year 25.980.73 3.127,.10 Openlng balan 10 563.89 Closlng b•l•nc• Tanya Clarke Project Cowordinator Yo￿nda Na11k￿ Accountant- Slldl Llmltsd 8 December 2(r21 EXPAND (The registered charity NO.. 11371201 FINANCIAL STATEMENTS 5. STATEMENT OF FINANCIAL POSITION As 8t 31 March 2021 2020 Not Currgnt assets Cash at bank 8nd in hand Loan 36,544.62 555.00 10,563 Nat ass•ts EXPAND he registered Charity NO: 11371201 FINANCIAL STATEMENTS Forthe year ended 31 March 2021 Note8 to the Flnanclal Statements General Expand is an organisation that focuses on education and infrastructure development at its project sites in Malawi. Its activities span building Glassrooms blo¢ks and teaches houses, installation of ¢lean pM)table water solutions, school bursary schemes and literacyl IT boost projects. The funds are raised by donations in the UK and through in¢ome generatlng activities in Malawi. Funds from UK are sent Ihrough the banking system for complete transparency. Expand has no assets and all funds go straight to work on the ground. Trustees are unpaid and even expenses are often not reimbursed. The aim is to have nearfy all the fvnds raised go to the work i)n the ground In Malawi. A¢countlng Policios The significant accounts.ng policies adopted in the preparation of these financial stslements are set out below.. (IJ Bas1$ olpreparntlon The financial slalements, expressed in the Brltish Pounds (£), have been prepared under the histor￿81 cost convention using cash accounting. (11) Incom• and exp•nditure Income and expenditure are accounted for when actual received or paid. (111) Cash and cash oqulvalonts Cash equivalents consists of short term, highly liquid investments which are readily convertible into known amounts of cash without noti￿ and which were within three months of maturity when acquired: less advances from banks repayable wilhin three months from the date of the advance. Project advances ar& also included as cash and cash equNalents. (IVJ Forelgn currency The functtonal Gurrency of the county of expenditure is Malawi Kwacha. Transactions in other currencies are record&J at the rate of exchange prevailing on the date of the transaction. (v) Expenditure Expenditure represents the funds disbursed. (vl) Capltal exp•ndlturn Capitsl expenditure is expensed towards the cost of the project. EXPAND (The registered charity NO.. 1137120) FINANCIAL STATEMENTS Forty￿ y98r ¢Mded 31 March 2Q21 Notes to the Flnanclal Statements Grant Incomo Grant income represents funds tranSfer￿d from Expand UK to Malawi bank &count 2021 2020 Cash and eash equlvalent Bank balan Loan Staff loan Auditconsult. Keza Office ParK Block 3 First Floor. East vlng. P.0. Box 1406 Blontyrn, Malawl Tel.. +265 1873 8551 +265 1873 85e4 +285 1 873 752 Em•ll: auditconsult auditconsU￿rnw W•b•ll•: Www.audite<￿•Ullfflw Roport of th• Ind•p•nd•nt Audltor on th• Verllkatk)n of the Oporatlon• •nd Compli•nc• wlth Natlonal Laws and R•gulatlon$. 7.1 Introductlon In accordance with the temis of our engagement letter, were requlred to verity the organisat'on operations. complian¢e with nats'onal laws and ffjgulations. 7.2 Scope and work p•rfomi•d The verification was conducted at Slldi offi￿$ in Lilongwe. Malawi. Wa performed the following ￿￿edUres.. Checked compliance with.. Malawl Taxallon Act. The Trustees Incortthtion A¢( Cap. 5."02 The Employment Act, Cap. 55.. 02: N¢X-Govemmontal OrganlsatK)ns' Act of 2IX)1 TEVET Act 7.3 Flndlng• organis8Oon complied wilh all relevant k)cal regulatlons. 7A Conclu•lon Nothing has come to our attention th8t indlcatss that the partners dld not comWy wllh national laws and regulati¢)ns. Audltconsult. Chartered Accountants Isaac Kayira. CA IM). MBA Blantyre 8 December 2021 Audltconsult. Keza Office Park. 8kKk 3 Fir8t Floor, East wlng. P.0. Box 1406 81antyr•. Malawl Td: +265 1873 855 1 +265 1873 8561 +285 1873 752 Em*ll: audi consult W•b•lt•: w•M.audlt(wsultnr4V Report on Our Evalu•tlon of Intsmal Control• 8.1 Introductlon In accordance with our engagement lettef we were engaged to re¥knY Intemal contrds of each partner and lo ensure that the funds were going towards the actu81 c¥)nStr￿9n proJ8¢ts kndK8ted as well as the salaries of th8 indfviduals at 8ch<> 8.2 Scop• •nd w•rk p•rfom We visited the project sltes and evaluated the Intemal control systems as set up by the Proj8¢fs management in order to.. (8) Assess the de$lgn of relevant contrd and proc•Yures and det8miln8 TAthether those policies and procedures have boen placed in operntion. (b) ld8n￿fy condltbns are defiuent In fv design or oper8tion of Intemal ￿ntrol8. 8.3 Flndlnq• There was rnlev8nt 8pproval when an oxpons• was Incurred. Depending on the amount of expenditure. different autt￿ty limits apply *ith the h&hest authorlty being the intomal procuren￿nt committeo. Expn808 wern properly supFxyted and aulhori88d ty 8pproprknte Senior offiGials I workers and teachers etstad and **re being paid Ihrough bank accounts established In the usual channels. All payments and wenses were conducted th￿￿gh the bank ￿ounts which ènsured better transparency. .4 conclu￿on Nothing has come to our attention that indic8t•s that intwnal controls were not prowly designed or placed in operation during the year. Audltconsult. Chartered Accountsnts Isaac Kayira, CA IM), MBA Blantyre 8 December 2021 10 AuditConsult• Keza Office 8k￿k 3 Fitst Floor. East*ing. P.0. Box 14C6 81antyr8, Malawl Tei." +265 1873 8SS l +265 1873 8W +285 1873 752 Em*ll.' auditconsull audilconsultmw 10. R•port of the Indèpendent Audltor on thg Review ol ProJ•ct Expenditure 10.1 lTrtrodudion In accordance with the terms of our engagement retter. we were required to rewewthe ststsment of income and expenditure set out in secti￿ 4 in Order to detemiine whether the costs charged to the project are eligible urKler the (axwJith)ns set out in the grant agreement and to rep)rt on any exceptions identified. 10.2 S¢ope and work perforn￿d Our revrew %Yas Ca￿led out in xcordan¢e with Intemational Stsndards applKable to review engagemerts ISRS 4400. We perfomied the followirwJ pr¢￿ureS on dl transths: Che¢ked that the costs were reJeYant to the wcie¢V$ obiecfrves. Checked that the costs were incutred during the reporting perictyJ from 1 Awl 2020 to 31 March 2021. Checked that the Msts were &tually irKurred, rwded in tre ￿CoUnts, are identifiable and verifiable and a￿ backed by ¢xiginals of SUP￿Ing documents. 10.3 Findlngs Costs V**re ￿levant to the kyqecvs oWNes Costs were incurred durirKJ the reFQrting p8rKMJ from 1 April 2020 to 31 March 2021. Costs were adually incuThed. r&orded in accounts, aR hjentif*I￿ and verifiable and are backed by originals of supp)rting d(Kuments. 10A Conclusion Nothing has ¢ome to our attenti(￿ that indk*s that Ihe o)sts charged to the project are not eligible under the conditions set c￿t in the grant ￿)ntr￿L Auditconsult. Chartered Accountants Isaac Kayira, CA {M), MBA Blantyre 8 Decernber 2021 11