| Contents | Page |
|---|---|
| Report of the Trustees | 3 to 9 |
| Independent Examiners Report to the members | IO |
| Statement ofFinancial Activities | 11 |
| Balance Sheet | 12 to 13 |
| Notes to the Financial Statements | 14 to 19 |
| Detailed Statement ofIncome andExpenditure | 20 to 21 |
| Note | 2024 | 2023 | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Restricted funds |
Unrestricted funds |
Endowment funds |
Total | Restricted funds |
Unrestricted funds |
Endowment funds |
Total | ||
| Income and endowments from: | |||||||||
| Donations and legacies | 2 | 44,691 | 48,179 | 92,870 | 32,892 | 50,757 | 83,649 | ||
| Charitable activities | 18 | 18 | |||||||
| Other trading activities | 2,069 | 2,069 | 2,742 | 2,742 | |||||
| Investment income | 3 | 27,582 | 713 | 28,295 | 24,196 | 2,715 | 26,911 | ||
| Total Income | 44,691 | 77,830 | 713 | 123,234 | 32,892 | 77,713 | 2,715 | 113,320 | |
| Expenditure on: | |||||||||
| Raising funds | 4 | 203 | 4,325 | 4,528 | 4,104 | 4,104 | |||
| Charitable activities | |||||||||
| Direct service provision | 2,933 | 1,661 | 4,594 | 11,310 | 11,310 | ||||
| Grant funding of panners | 23,505 | 45,137 | 68,642 | 37,528 | 62,123 | 99,651 | |||
| Support costs | 64 | 28,814 | 19,340 | 48,218 | 6,881 | 6,881 | |||
| TotalExpenditure | 26,705 | 79,937 | 19,340 | 125,982 | 37,528 | 84,418 | 121,946 | ||
| Net gains/(losses) on investments | 158,847 | 158,847 | 1,586 | 1,586 | |||||
| NetIncome/(Expenditure) | 17,986 | (2,107) | 140,220 | 156,099 | (4,636) | (6,705) | 4,301 | (7,040) | |
| Transfersbetween funds | 2,035 | (2,035) | |||||||
| NetMovement in Funds | 17,986 | (72) | 138,185 | 156,099 | (4,636) | (6,705) | 4,301 | (7,040) | |
| Reconciliation offunds: | |||||||||
| Total funds brought forward | 25,870 | 25,295 | 852,064 | 903,229 | 30,506 | 32,000 | 847,763 | 910,269 | |
| Total funds carried forward | 43,856 | 25,223 | 990,249 | 1,059,328 | 25,870 | 25,295 | 852,064 | 903,229 |
| Restricted | Unrestricted | Endowment | 2024 | 2023 | ||
|---|---|---|---|---|---|---|
| Note | funds | funds | funds | |||
| Fixed assets | ||||||
| Tangible assets | 8 | 438 | 950,000 | 950,438 | 776,376 | |
| Current assets | ||||||
| Stock | ||||||
| Debtors | 9 | 6,658 | 2,007 | 8,665 | 1,100 | |
| Investments | 10 | 40,249 | 40,249 | 35,064 | ||
| Cash at bank and in hand | 37,198 | 24,565 | 61,763 | 93,414 | ||
| 43,856 | 26,572 | 40,249 | 1 10,677 | 129,578 | ||
| Creditors - amounts falling |
11 | (1,787) | (1,787) | (2,725) | ||
| due within one year | ||||||
| Netcurrent assets | 43,856 | 24,785 | 40,249 | 108,890 | 126,853 | |
| Net assets | 43,856 | 25,223 | 990,249 | 1,059,328 | 903,229 |
| 43,856 | 25,870 |
|---|---|
| 25,223 | 25,295 |
| 990,249 | 852,064 |
| 1,059,328 | 903,229 |
| Unrestricted | Restricted | 2024 | 2023 | |
|---|---|---|---|---|
| Funds | Funds | Total | Total | |
| Donations receivable | 45,790 | 36,335 | 82,125 | 76,732 |
| Tax recoverable | 2,389 | 8,356 | 10,745 | 6,917 |
| 48,179 | 44,691 | 92,870 | 83,649 |
| Unrestricted | Endowment | 2024 | 2023 | |
|---|---|---|---|---|
| Funds | Funds | Total | Total | |
| Rent received | 25,800 | 25,800 | 23,600 | |
| Income from investments held | 713 | 713 | 2,715 | |
| Deposit account interest | 1,782 | 1,782 | 596 | |
| 27,582 | 713 | 28,295 | 26,91 1 |
| Unrestricted | Restricted | 2024 | 2023 | |
|---|---|---|---|---|
| Funds | Funds | Total | Total | |
| Raisingdonations | 203 | 203 | 42 | |
| Trading activities | 512 | 512 | 176 | |
| Rent collection | 1,703 | 1,703 | 1,699 | |
| Property maint. & insurance | IO | 2,110 | 2,187 | |
| 4,325 | 203 | 4,528 | 4,104 |
| Unrestricted | Endowment | 2024 | 2023 | |||
|---|---|---|---|---|---|---|
| Funds | Funds | Total | Total | |||
| Depreciation | on | assets | 938 | 938 | 938 |
| n | ||
|---|---|---|
| 2024 | 2023 | |
| Wages and salaries | 37,800 | |
| National insurance costs | ||
| Pension costs | 3,024 | |
| Expensesreimbursement | 1,688 | 8,350 |
| 42,512 | 8,350 |
| Fixed Assets | |||
|---|---|---|---|
| Land and Buildings |
Plant and Machinery |
Totals | |
| Cost | |||
| At I January 2024 | 775,000 | 6,975 | 781,975 |
| Additions | 175,000 | ||
| Disposals | |||
| As at 31 December2024 | 950,000 | 6,975 | 956,975 |
| Depreciation | |||
| At I January 2024 | 5,599 | 5,599 | |
| Disposals | |||
| Charge | 938 | 938 | |
| As at 31 December2024 | 6,537 | 6,537 | |
| Net book value | |||
| At 31 December 2024 | 950,000 | 438 | 950,438 |
| At 31 December2023 | 775,000 | 1,376 | 776,376 |
| Valuation in 2024 | 175,000 | |
|---|---|---|
| Valuation in2021 | 80,000 | |
| Valuation in 2019 | 45,000 | |
| Valuation in 2017 | 50,000 | |
| Valuation in 2016 | 25,000 | |
| Valuation in 2015 | 50,000 | |
| Valuation in 2014 | 50,000 | |
| Valuation in 2013 | 25,000 | |
| Valuation in 2012 | 10,949 | |
| Cost | 439,051 | |
| 950,000 | ||
| Prepaid Expenses | ||
| 2024 | 2023 | |
| Other debtors | 4,655 | 1,100 |
| Prepayments | 4,010 | |
| 8,665 | 1,100 |
| et Investments | ||
|---|---|---|
| 2024 | 2023 | |
| Market value at IStJanuary | 35,064 | 60,763 |
| Add: cost of purchases | 33,561 | |
| Less: market value ofdisposals | (60,846) | |
| Unrealised gain/loss oninvestments | 5,185 | 1,586 |
| Market value at 3 ISt December | 40,249 | 35,064 |
| Investments at cost | 33,561 | 33,561 |
| 2024 | 2023 | |
|---|---|---|
| Accrued expenses | 1,787 | 2,725 |
| Other creditors | ||
| 1,787 | 2 725 |
| ment in Funds | |||||
|---|---|---|---|---|---|
| At 01.01.24 | Incoming Resources |
Outgoing Resources |
Gains & Losses/ Transfers |
At 31.12.24 | |
| Restricted funds | |||||
| Sports ministry | 660 | 4,699 | (4,901) | 458 | |
| School bursary | 4,663 | 9,057 | (5,801) | 7,919 | |
| Radio ministry | 8,226 | (1,726) | 6,500 | ||
| Imbwa Comm. project | (69) | 887 | (1,093) | 312 | 37 |
| Salaries - Anthony |
6,238 | 3,813 | (4,349) | 5,702 | |
| Pastor hardship fund | 858 | (858) | |||
| Cyclone Freddy resp. | 312 | (312) | |||
| Booklet publishing | 4,982 | 1 ,250 | (1,524) | 4,708 | |
| BeGA School devt. | 6,250 | (6,250) | |||
| Vehicle fund | 18,735 | (203) | 18,532 | ||
| 25,870 | 44,691 | (26,705) | 43,856 | ||
| Unrestricted funds | |||||
| General fund | 25,295 | 77,830 | (79,937) | 2,035 | 25,223 |
| Endowment funds | |||||
| Building | 775,000 | 175,000 | 950,000 | ||
| Other | 77,064 | 713 | (19,340) | (18,188) | 40,249 |
| 852,064 | 713 | (19,340) | 156,812 | 990,249 | |
| Total Funds | 903,229 | 123,234 | (125,982) | 158,847 | 1,059,328 |
| Restricted | Unrestricted | Endowment | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | |
| 2024 | 2024 | 2024 | ||
| Tangible Fixed Assets | 438 | 950,000 | 950,438 | |
| CurrentAssets | 43,856 | 26,572 | 40,249 | 110,677 |
| CurrentLiabilities | (1,787) | (1,787) | ||
| Net Assets At 31 Dec | 43,856 | 25,223 | 990,249 | |
| Restricted | Unrestricted | Endowment | Total | |
| Funds | Funds | Funds | 2023 | |
| 2023 | 2023 | 2023 | ||
| Tangible Fixed Assets | 1,376 | 775,000 | 776,376 | |
| CurrentAssets | 25,870 | 26,644 | 77,064 | 129,578 |
| CurrentLiabilities | (2,725) | (2,725) | ||
| Net Assets At 31 Dec | 25,870 | 25,295 | 852,064 | 903,229 |
| 2024 | 2023 | |
|---|---|---|
| Income and Endowments | ||
| Donations and legacies | ||
| Donations | 82,125 | 76,732 |
| Gift aid | 10,745 | 6,917 |
| 92,870 | 83,649 | |
| Other trading activities | ||
| Fundraising events | ||
| Tradingpayments received | 2,069 | 2,742 |
| 2,069 | 2 742 | |
| Investmentincome | ||
| Rents received | 25,800 | 23,600 |
| Other investment income received | 713 | 2,715 |
| Deposit account interest | 1,782 | 596 |
| 28,295 | 26,91 1 | |
| Charitable activities | ||
| Primary purpose trading | 18 | |
| Total incoming resources | 123,234 | 113,320 |
| Expenditure | ||
| Raising funds - donations and legacies |
||
| Primary purpose trading costs | 3 | |
| Raisingdonations costs | 203 | 42 |
| 203 | 45 | |
| Raisingfunds - other trading activities |
||
| Trading costs | 511 | 173 |
| Raisingfunds - investmentmanagement costs | ||
| Rent collection | 1,703 | 1,699 |
| Property maintenance | 1,714 | 1,728 |
| Property insurance | 397 | 459 |
| 3,814 | 3 886 |
| 2024 | 2023 | |
|---|---|---|
| Charitable activities | ||
| J-Life Ministries | 67,228 | 105,383 |
| Secondary School Bursaries forGirls | 5,801 | |
| Academic Scholarships | ||
| Gifts to Individuals in Malawi | 140 | |
| Gifts to other Organisations in Malawi | 11 | 9 |
| UK Ministry | 548 | 3,274 |
| UK Salary Costs | 38,491 | |
| UK Office Costs | 7,796 | 3,273 |
| Equipment - Depreciation |
938 | 938 |
| 120,813 | 117,221 | |
| Governance costs | ||
| Independent examiners fee | 600 | 600 |
| Other | 41 | 21 |
| 641 | 621 | |
| Total charitable resources expended | 121,454 | 1 17,842 |
| Total resources expended | 125,982 | 121,946 |
| Netincome/(expenditure) | (2,748) | (8,626) |