## **Trustees’ Annual Report for the period**
## **From 1/1/2022 Period start date To 31/12/2022 Period end date**
## **Charity name: Friends of Mangochi Orphans Education (FOMOE)**
## **Charity registration number: 1137984**
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|To advance the education, relieve poverty
and sickness and enhance the preservation
and protection of good health of vulnerable
and orphaned children in Malawi; in
particular by helping to fund a school
known as Mangochi Orphans Education
and Training.|
|Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|FOMOE’s focus continues to be raising
funds for MOET school – a primary school
for orphan children supporting the
communities in the Mangochi district in
Malawi.
FOMOE finds sponsors for MOET students
with the necessary grades to attend
secondary school and seeks funding for
exceptional pupils to go into tertiary
education.
At MOET, class sizes are small to enable
focused pastoral care and meetings are
often held with guardians regarding the
children’s progress. A meal is provided
every day at break time as the children are
from extremely poor backgrounds, this may
be their only meal. Lunch is provided once
a week, when clubs and activities are held
in the afternoon.
In their last year (Standard 8) children
board at MOET school to focus on their
studies. A boarding house was built to
accommodate them.
The school also strives to anticipate hunger
problems by building food reserves and will
provide extra meals to children during
famine crises.
During dire famine it also helps in local
communities with food aid.|
|||Life skills – eg computer studies, cooking,
carpentry, tinsmith, tailoring, sewing and
building to encourage self-reliance when
they leave school especially for those not
going to secondary school.
Sustainable organic, permaculture, tree
planting and medicinal gardening to
promote food self-sufficiency, improve diet
and use of medicinal plants.
In season produce from garden and kitchen
sold locally and at a roadside stall.
ANAMED – Action for Natural Medicine –
using plants for natural medicines.
Irrigation project to extend crop seasons
and fishponds to help diet and sell locally.
HIV/AIDS (EDZI TOTO program) and
Malaria awareness programmes covering
all aspects including diet and health.
Sports promoting team activities – football,
netball and basketball with matches against
other schools.
Village outreach project – trained staff from
MOET school work with local village
committees and schools to promote
sustainable organic and permaculture
techniques to grow food, shelter and
medicinal plants.|
|---|---|---|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**All trustees have read the guidance**
**issued by the Charities Commission on**
**Public Benefit.**|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
||SORP reference||
|---|---|---|
|Policy on grant making|Para 1.38||
|Policy on social investment
including program related
investment|Para 1.38||
|Contribution made by
volunteers|Para 1.38||
|Other|||
## **Achievements and Performance**
||SORP reference||
|---|---|---|
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|In 2022 FOMOE raised £47,267 (£46,016
in 2021) with the help of many people
young and old undertaking a huge variety
of fundraising activities. As always, we are
very grateful to those generous enough to
give via recurring payments, whether on
annual or monthly basis.
MOET
school
continues
to
achieve
excellent selection rates to allow its pupils to
continue to secondary school. This year
MOET was able to find sponsors for nine
former MOET pupils to go into Tertiary
education, and 33 to secondary school.
Part of MOET’s education programme
provides pupils with vocational skills, should
they not continue their studies at secondary
school. Tailoring, welding, computer, and
cooking workshops take place in the
afternoon once academic classes have
finished. FOMOE has provided the tailoring
and welding centres with additional capital
so they will be able to generate income
through the sales of door and window
frames and school uniforms.|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
|Achievements against
objectives set|Para 1.41||
|---|---|---|
|Performance of fundraising
activities against objectives
set|Para 1.41||
|Investment performance
against objectives|Para 1.41||
|Other|||
## **Financial Review**
|**Financial Review**|||
|---|---|---|
|Review of the charity’s
financial position at the end
of the period|Para 1.21|Total income was £47,267 and total
expenses were £43,859. Therefore, the
total balance on reserves increased from
£22,354 in 2021 to £25,762 in 2022.|
|Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|Reserves are held in GBP due to the
volatility of the Malawi currency. Reserves
are held due to donations from sponsors
being held and passed on to the school in
line with the budget. Donations received
specifically for children going through the
school are paid over each quarter as part of
the aid package sent to MOET.|
|Amount of reserves held|Para 1.22|Restricted reserves for the construction of
the secondary school amount £16,524, and
restricted reserves for secondary and
tertiary education are £5,051. Unrestricted
reserves are £4,187.|
|Reasons for holding zero
reserves|Para 1.22||
|Details of fund materially in
deficit|Para 1.24||
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|There is currently no uncertainty about the
charity’s ability to continue as a going
concern. FOMOE functions on minimal
running costs and owns no property nor has
it any ongoing commitments; neither of a
financial nor contractual nature.|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
|The charity’s principal
sources of funds (including
any fundraising)|Para 1.47||
|---|---|---|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46||
|A description of the principal
risks facing the charity|Para 1.46||
|Other|||
**Structure, Governance and Management**
|Description of charity’s
trusts:||**One Trust**|
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|**Trust Deed**|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**Simple Trust not incorporated**|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|**Voted in by trustees at an Extraordinary**
**meeting**|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
|Policies and procedures
adopted for the induction
and training of trustees|Para 1.51||
|---|---|---|
|The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51||
|Relationship with any related
parties|Para 1.51||
|Other|||
## **Reference and Administrative details**
|Charity name|Friends of Mangochi Orphans Education|
|---|---|
|Other name the charity uses|FOMOE|
|Registered charity number|1137984|
|Charity’s principal address|63 Spirit Quay
London
E1W 2UT|
## **Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole year**|**Name of person (or**
**body) entitled to**
**appoint trustee (if**
**any)**|
|---|---|---|---|---|
||T R Clarke|Chair|Till 21/07/2019||
||James Brittain|SecondarySchools|From 8/03/2017||
||Maria Dieguez|Chair/Treasurer|From 21/4/2018||
||Sanchia Thompson|Legal|Till 8/01/2020||
||Johannes Lau|Volunteers|From 8/12/2018||
||Grahame Wood|Treasurer|Till 21/4/2018||
||Grahame Wood|Trustee|From 22/4/2018 to 8/12/2018||
||Kate Bernard|Volunteers|Till 8/12/2018||
||Judith Cramp|Admin|26/8/2018 to 5/12/2018||
||Mr B Kelly|Marketing|Till 31/05/2018||
||Aimee Johanna Coelho|Marketing|Till 17/01/2020||
||AmyWarner|Fundraising|From 21/04/2019||
||Joseph Marris|Strategy|From 2/10/2019 to 15/12/2021||
||America Bernal|Marketing|From 21/06/2023||
||||||
||||||
||||||
||||||
||||||
||||||
## – Corporate trustees names of the directors at the date the report was approved
**Director name**
Name of trustees holding title to property belonging to the charity
**Trustee name Dates acted if not for whole year**
**Funds held as custodian trustees on behalf of others**
Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
|**Type of**|**Name**|**Address**|
|---|---|---|
|**adviser**|||
**Name of chief executive or names of senior staff members (Optional information)**
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
## **Other optional information**
## **Declarations**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature(s) Full name(s)** Maria Jose Dieguez Rodriguez **Position (eg Secretary, Chair, etc)** Chair and financial trustee **Date** 29 October 2023
## **Friends of Mangochi Orphans Education**
**Annual Report and** Financial Statements **Year Ended** 31 December 2022 Charity registration number: 1137984
1
## **Friends of Mangochi Orphans Education**
## Contents of the Financial Statements
For the Year Ended 31 December 2022
|Trustees' Report (including Reference and Administrative Details)|3|
|---|---|
|Statement of Trustees' Responsibilities|7|
|Independent Examiner's Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Financial Statements|11|
2
## **Friends of Mangochi Orphans Education**
## Trustees' Report
## **Reference and Administrative Details**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2022.
## **Trustees**
James Brittain
Maria Dieguez Johannes Lau Amy Warner America Bernal (appointed 21 June 2023)
## **Principal Office**
63 Spirit Quay E1W 2UT London
## **Charity Registration Number**
1137984
## **Independent Examiner**
D C Besser ACA
3
## **Friends of Mangochi Orphans Education**
## Trustees' Report
## **Objectives and activities for the public benefit**
The purpose of the charity is to advance the education, relieve poverty and sickness and enhance the preservation and protection of vulnerable and orphaned children in Malawi; in particular by helping to fund a school known as Mangochi Orphans Education and Training (“MOET”), located in Mangochi, Malawi.
## **Public benefit**
The Charities Act 2011 introduced the requirement for charities to show they provide a public benefit. The trustees have periodically reviewed the goals, services and objectives of the charity in light of this requirement. This trustees' annual report clearly evidences how the charity strives to meet that need.
Friends of Mangochi Orphans Education (“FOMOE”) continues to focus on raising funds for MOET, a primary school for orphan children supporting communities in the Mangochi district in Malawi. Additionally, FOMOE finds sponsors for MOET pupils with the necessary grades to attend secondary school and seeks funding for exceptional pupils to continue onward to tertiary education.
At MOET, class sizes are small enough to enable focused pastoral care and meetings are often held with guardians regarding the children’s progress. A meal is provided every day at break time as the children are from extremely poor backgrounds; this may be their only meal. Lunch is provided once a week, whereupon clubs and activities are held in the afternoon. In their last year (‘Standard 8’) children board at MOET school to focus on their studies. A boarding house was built to accommodate them with the support of FOMOE. The school also strives to anticipate hunger problems by building food reserves and will provide extra meals to children during famine crises. During dire famine it also helps in local communities with food aid.
The trustees thus confirm that they have complied, in full, with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance as published by the Charity Commission for England and Wales.
## **Achievements and performance**
In 2022, FOMOE raised £47,267 (2021: £46,016) with the help of many people of all ages undertaking a variety of fundraising activities. As always, we are very grateful to those generous enough to give via recurring payments, whether on a monthly or annual basis.
## At MOET school
MOET carries on with its academy success. Out of all the 334 Primary School pupils, 289 passed; a pass rate of 86%. In addition, MOET continues to achieve excellent selection rates to allow its pupils to continue to secondary school. FOMOE found sponsors for 33 former MOET students to go to secondary education and nine to go into tertiary education.
Part of MOET’s education programme provides pupils with vocational skills, should they not continue their studies at secondary school. Tailoring, welding, computer, and cooking workshops take place in the afternoon once academic classes have finished. FOMOE funded the tailoring and welding centres with additional capital so that they are able to generate income through the sale of door and window frames and school uniforms.
4
## **Friends of Mangochi Orphans Education**
## Trustees' Report (continued)
MOET does not only teach learners academics skills, but also imparts them with codes of conduct and ethics, hence they are expected to behave well as they are part MOET. This ensures that learners are well mannered at school. In addition, student counseling typically happens once per term.
In an effort to ensure that at least everyone at MOET, both staff members and students, are physically fit, sporting activities are organized weekly in addition to an annual sports day. The grand sporting day took place in June 2022 having been postponed for two years due to COVID 19 pandemic restrictions.
MOET students perform various activities upon every end of term. They displayed some of the skills acquired throughout the months such as their achievements in drama, poetry and music. Students expressed themselves in English fluently, which is an indication of a more improved education quality at MOET.
MOET has a passion for not only sustaining its operation of education institutions such as elementary and Primary Education but also for maintaining its quality of education by improving teaching standards. To achieve this, teachers underwent a series of training courses on Special Needs Education (SNE) and on Formulation and Marking of Examinations Training in February 2022.
## **Vocation skills**
MOET learners undergo extra-curricular accomplishments after normal classes in order to cultivate their potential skills including; painting, drawing, cooking, welding and computer operation.
As one way of raising its funds, MOET produces goods locally and sells them to people in the community. Learners are trained to process raw materials found in the local environment in order to make food, medicine and other products. Such products are also sold to increase MOET’s revenues.
## **Permaculture**
MOET is an institution which follows principals of permaculture. Permaculture principles are recommended in ensuring sustainable conservation and utilization of forest, soil and water resources. These are critical in sustaining livelihood especially to people in rural areas. To make sure that every member of staff is conversant with the principle and is supportive to the interventions at the institution, training was organized for members of staff as well as the surrounding communities. These courses were conducted for two weeks in May 2022. In addition, water and waste management and farming were emphasized.
The Sustainable Livelihood for All (SULIA), a local organization that implements activities to support people living sustainably, decided to support MOET having seen potential synergies between the two organizations. This support included training to parents and guardians of pupils within its catchment area. The training was for a week and a total of 20 households participated.
## **Financial Review**
In 2022, total incoming resources were £47,267 (2021: £46,016), derived from donations. Total expenditure for 2022 was £43,859 (2021: £49,257). Therefore, the total balance on reserves increased from £22,354 in 2021 to £25,762 in 2022.
Reserves are held in pounds sterling due to the volatility of the Malawi currency. Reserves are held due to donations from sponsors being held and passed on to the school in line with the budget. Donations received specifically for children going through the school are paid over each quarter as part of the aid package sent to MOET.
5
As at 31 December 2022, restricted reserves were £21,575 (31 December 2021: £22,006). The amount held in restricted reserves in relation to construction of the secondary school amounted to £16,524 as at 31 December 2022 (2021: £16,524). The amount held in restricted reserves in relation to sponsorship of secondary and tertiary education was £5,051 (2021: £5,482) as at 31 December 2022. As at 31 December 2022, unrestricted reserves were £4,187 (31 December 2021: £348).
## **Going concern**
There is currently no uncertainty about the charity’s ability to continue as a going concern. FOMOE functions on minimal running costs and owns no property nor has it any ongoing commitments; neither of a financial nor contractual nature.
6
## **Friends of Mangochi Orphans Education**
## Trustees' Report (continued)
## **Structure, Governance and management**
The Friends of Mangochi Orphans Education is a charity established and governed by a Trust Deed dated 23 May 2010. It registered with the Charity Commission on 14 September 2010. The charity is an unincorporated charity whose business is conducted and managed by its committee of trustees. New trustees are voted in by way of members’ vote.
## **Statement of Trustees' Responsibilities**
The charity trustees are responsible for preparing a Trustees’ Annual Report and financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on 29 October 2023 and signed on its behalf by:
.........................................
Ms Maria J. Dieguez Rodriguez Trustee
7
## **Friends of Mangochi Orphans Education**
## Independent Examiner's Report to the trustees of Friends of Mangochi Orphans Education
I report to the trustees on my examination of the accounts of the Friends of Mangochi Orphans Education for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the Trust as required by section 130 of the Act;
- 2 the accounts do not accord with the accounting records; or
- 3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
D C Besser ACA
16 Collison Avenue Arkley Herts EN5 3DD
Date: 30 October 2023
8
## **Friends of Mangochi Orphans Education**
## **Statement of Financial Activities**
## Year Ended 31 December 2022
|**Note**|**Unrestricted**||**Restricted**|**Total**
**2022**
**£**
47,267
(43,859)
(43,859)
3,408
-
3,408
22,354
25,762
**Total**
**2021**
**£**
46,016
(49,257)|
|---|---|---|---|---|
||**Funds**||**Funds**||
||
**£**||**£**||
|**Income and Endowments**
**from**:|||||
|Donations and legacies
2|
30,369||16,898||
|**Expenditure on;**|||||
|Charitable activities
3|
(26,530)||(17,329)||
|Total Expenditure|(26,530)||(17,329)||
|Net (expenditure)/income|3,839||(431)||
|Gross transfers between funds|-||-||
|Net movement in funds|3,839||(431)||
|**Reconciliation of funds**|||||
|Total funds brought forward|348||22,006||
|Total funds carried forward
7|
4,187||21,575||
|**Note**
**Income and Endowments**
**from**:
Donations and legacies
2
**Expenditure on;**
Charitable activities
3
Total Expenditure
Net (expenditure)/income
Gross transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
7|**Unrestricted**
**Funds**
**£**
33,627
(37,255)
(37,255)
(3,628)
-
(3,628)
3,976
348||**Restricted**
**Funds**
**£**
12,389
(12,002)
(12,002)
387
-
387
21,619
22,006||
|||||(49,257)|
|||||(3,241)
-|
|||||(3,241)
25,595|
|||||22,354|
All of the charity's activities derive from continuing operations during the above two years.
The notes form part of these financial statements.
9
## **Friends of Mangochi Orphans Education**
## **Balance Sheet** 31 December 2022
|**Note**
**Current assets**
Debtors
6
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
**Net assets**
**Funds of the charity:**
**Restricted funds**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
7|**2022**
**£**
9,542
16,220
25,762
-
25,762
21,575
4,187
25,762|**2021**
**£**
4,658
17,696|
|---|---|---|
|||22,354
-|
|||22,354|
|||22,006
348|
|||22,354|
The notes form part of these financial statements.
The financial statements were approved by the trustees, and authorised for issue on 29 October 2023 and signed on their behalf by:
.........................................
Ms Maria J Dieguez Rodriguez Trustee
10
## **Friends of Mangochi Orphans Education**
## Notes to the Financial Statements
## Year Ended 31 December 2022
## **1 Accounting policies**
## **Statement of compliance**
The financial statements of the charity, which is a public benefit under FRS 102, have been prepared under the historical cost convention 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) (issued October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Friends of Mangochi Orphans Education meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Exemption from preparing a cash flow statement**
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
11
## **Friends of Mangochi Orphans Education**
## Notes to the Financial Statements
## Year Ended 31 December 2022
## _**Grant expenditure**_
Grants payable are payments to third parties in the furtherance of the charitable objectives of the charity. _**Grant provisions**_
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Financial instruments**
## _**Classification**_
The charity holds the following financial instruments:
- Short-term other debtors and creditors;
- Cash and bank balances.
All financial instruments are classified as basic.
## _**Recognition and measurement**_
The charity has chosen to apply the recognition and measurement principles in FRS102. Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the charity’s obligations are discharged, expire or are cancelled. Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
## **Judgements and key sources of estimate uncertainty**
No key judgments, estimates or assumptions have been identified.
12
## **Friends of Mangochi Orphans Education**
## Notes to the Financial Statements
## Year Ended 31 December 2022
## **2 Income from donations and legacies**
||||**General**||**Restricted**||||**Total**|**Total**|
|---|---|---|---|---|---|---|---|---|---|---|
||||||**funds**||||**2022**|**2021**|
||||**£**||**£**||||**£**|**£**|
||Donations and legacies;||||||||||
||||||||||||
||||||||||||
||Donations from
individuals||30,369||16,898||||47,267|46,016|
||||||||||||
||||||||||||
||||30,369||16,898||||47,267|46,016|
||**3**
**Expenditure on charitable activities**||||||||||
||Grants
Governance costs||**Grant funding**
**of activity**
**£**
43,839
20
43,859||**Total**
**2022**
**£**
43,839
20
43,859||||**Total**
**2021**
**£**
49,237
20
49,257||
||||||||||||
In 2022, £26,510 (2021 - £37,235) of the above expenditure was attributable to unrestricted funds and £17,329 (2021 - £12,002) to restricted funds.
All grants payable are made to the school in Mangochi to support children through primary, secondary
and tertiary education.
Contained within Governance costs are £20 bank fees (2021: £20), £Nil consultancy fees (2021: £Nil) and £Nil Independent examiner’s fee (2021: £Nil).
## **4 Trustees’ remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
No other disclosable related party transactions took place in the year.
## **5 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
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## **Friends of Mangochi Orphans Education**
## Notes to the Financial Statements
## Year Ended 31 December 2022
## **6 Debtors**
||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|Other debtors|9,542|4,658|
## **7 Funds**
|**Balance**
**at**
**1 January**
**2022**
**£**|**Balance**
**at**
**1 January**
**2022**
**£**|**Balance**
**at**
**1 January**
**2022**
**£**|||||||**Balance at**|
|---|---|---|---|---|---|---|---|---|---|
||||**Incoming**||**Resources**||||**31 December**|
||||**resources**||**expended**||**Transfers**||**2022**|
||||**£**||**£**||**£**||**£**|
|**Unrestricted funds**||||||||||
|General|(348)
(22,006)
(22,354)||(30,369)
(16,898)
(47,267)||26,530
17,329
,
43,859||-
-
-||(4,187)
(21,575)|
|**Restricted funds**||||||||||
|**Total funds**|||||||||(25,762)|
## **8 Analysis of net assets between funds**
## **As at 31 December 2022**
||**Unrestricted**||**Restricted**|||
|---|---|---|---|---|---|
||**general funds**||**funds**||**Total funds**|
||**£**||**£**||**£**|
|Current assets|4,187||21,575||25,762|
|Current liabilities|-||-||-|
|Total net assets|4,187||21,575||25,762|
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