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2023-03-31-accounts

44 York Road, Bristol BS6 5QF, United Kingdom

REGISTERED CHARITY NO: 1137120

EXPAND UNAUDITED FINANCIAL STATEMENTS (REGISTERED CHARITY NUMBER: 1137120)

FOR THE YEAR ENDED 31 MARCH 2023

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REGISTERED CHARITY NO: 1137120

44 York Road, Bristol BS6 5QF, United Kingdom

TABLE OF CONTENTS

TRUSTEES REPORT .................................................................................................................... 3 STATEMENT OF PROJECT MANAGEMENT RESPONSIBILITIES ................................. 5 STATEMENT OF FINANCIAL ACTIVITIES .......................................................................... 6 STATEMENT OF FINANCIAL POSITION .............................................................................. 7 NOTES TO THE FINANCIAL STATEMENTS......................................................................... 8

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44 York Road, Bristol BS6 5QF, United Kingdom

REGISTERED CHARITY NO: 1137120

FINANCIAL STATEMENTS For the year ended 31 March 2023

1. Trustee’s Report

The Trustees have pleasure in submitting their report together with audited financial statements For the year ended 31 March 2023. 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 (Evans Nyirenda), a librarian who is managing the literacy boost scheme (Cawood Sisya), and one guard to protect the assets at the school. Evans and Cawood are in the picture on the cover page of this report. In addition;

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Left: Trustee Tanya in meeting with teachers at Chisala; Right: maintenance on library completed

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44 York Road, Bristol BS6 5QF, United

Kingdom

REGISTERED CHARITY NO: 1137120

At Mkoko school we continued to build up the school infrastructure for teachers and classrooms

and;

1.2 EXPAND REGISTERED TRUSTEES

The registered trustees for the charity are as follows:

1.3 BY ORDER OF THE BOARD

Tanya Clarke, Head Trustee

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44 York Road, Bristol BS6 5QF, United

Kingdom

REGISTERED CHARITY NO: 1137120

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.

____ ________

Tanya Clarke Yolanda Nalikungwi

Head trustee Accountant

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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		 2023
£

41,457.47
00.00


246
41,500.00

(288.53)

(288.53)

1,715.76

1,427.23		 2022
£
1,402.14
00,00
231
36,000.00
(34,828.86)
(34,828.86)
36,544.62
1,715.76

____ ______ Tanya Clarke Yolanda Nalikungwi Head Trustee Accountant (Sildi Ltd)

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44 York Road, Bristol BS6 5QF, United

Kingdom

REGISTERED CHARITY NO: 1137120

FINANCIAL STATEMENTS

For the year ended 31 March 2023

4. Statement of Financial Position

As at 31 March 2023

Notes
Current assets
Cash at bank and in hand
5.4
Loan
5.5
Net assets		 2023
£
1,427.23
555.00
1,982.23		 2022
£
1,715.76
555.00
37,069.62

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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 2023

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.

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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.

2023 2022
£ £
41,500.00 36,000.00
5.4 Cash and cash equivalent
Bank balance 1,427.23 1,715.76
5.5 Loan
Staff loan 555.00 555.00

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