Hope4Malawi TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charity Registration Number: 1151124
Hope4Malawi FOR THE YEAR ENDED 31 DECEMBER 2024 Contents Page Reference and administrative infomiation Trustees. report Independent examiner's report Statement of financial activits'es Balance sheet Notes to the financial statements 10 12-20
Hope4Malawi Reference and Administrative Information Trustees Mark Goodman Richard Guilbert (retired April 2024) Martin Wainwright (retired June 2024) Wendy Wainwright (retired June 2024) Alunda Young (appointed on 23 November 2024) Derrick Jones (appointed on 23 November 2024) Sherry Sprunt (appointed on 23 November 2024) Christina Guilbert Pauline Rashbrook Gerald Rashbrook Sara Goodman Charity registered number 1151124 Registered office 26 Northey Avenue Cheam Sutton SM2 7HR Key management personnel Sara Goodman Mark Goodman Charis Miles Independent Examiner MrArthur Mepryn Wolffsohn, 32 Shirley Avenue, Cheam, Sutton, Surrey Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Page 1
Hope4Malawi Trustees, Report for the year ended 31 December 2024 The Trustees present the Trustees, Annual Report for the year ended 31 December 2024. This report has been prepared in accordan with Hope4Malawi's Constitution, the Charities Act 2011, the Charities Statement of Recommended Practi (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document Hope4Malawi is a Charitable Incorporated Organisation. It is govemed by its Constitution. Recruitment and appointment of Trustees On an annual basis. the board of trustees reviews the skill sets of the trustees to identity if further trustees should be recruited. Recruitment is based upon seeking people with: a passion for the work of the charity. the requisite skill sets being sought, and preferably experienTr of rural Malawi. Trustees are inducted and trained using materials from other trustees and the Charity Commission. Organisational Structure Trustees make major decisions at trustees, meetings where the strategy and values of the organisation are agreed and where annual budgets, and grants are agreed. A small finan sub- committee handles day to day finance operations and payments. Trustees delegate day-to-day management of the charity to Sara and Mark Goodman. They work with the charity's employee and various volunteers to cary out the day-to-day operations of the charity. Some of the volunteers are also trustees. The charity only has one paid member of personnel appointed in 2025. Their pay was set by seeking to benchmark the role against equivalent roles and taking into account the level of skill and experience the successful employee had. Risk management The Trustees believe they are aware of the major risks to which the charity is exposed and that controls are in place to mitigate them. A Risk Register is in use and the Trustees aim for robust management oversight. The Trustees consider the principal risks and UnrtaIntieS facing the charity, and the plans and strategies for managing these risks. to be: Risk- A statement of what could o wron High levels of inflation and devaluations makes it harder for poor Malawians to escape the poverty trap. and increases cost of imported oods. Difficulties in partners finding staff who can deliver quality education ste s To Miti ate or Minimise Risk Managed timing of cash flows carefully Train pupils to manage finances well. Support partners in person in Malawi. Train partners. staff well Hire local ex ertise as re uired Increase community engagement and support and use local role models to hel Monitor income and costs carefully. Only start building projects once funds have been received. Seek donations to cover our general running costs ancl develop a regular support base. Trustees and s ecific donors fund UK costs of Communities may not wish to invest in their children's education Financial resources inadequate Page 2
Hope4Malawi Trustees, Report for the year ended 31 December 2024 Risk- A statement of what could o wron Ste s To Miti ate or Minimise Risk the charity in the UK, other donors monies go to su ort the work in Malawi. Regular communications to supporters. Seek monies from trusts as well. Income reduces OBJECTIVE AND ACTIVITIES Hope4Malawi's overall aim is the relief of poverty. Our main strategy to achieve this is to educate the next generation so that they can become economically independent. Education encompasses government primary schools, secondary schools, universities and colleges. We also recognise how broken relationships within communities and nations contribute to poverty as do moral failures (e.g. lack of integrity and accountability and power abuse.) Therefore. we also provide education in Christian faith and Gharacterat our Skills Centre. Our programmes are available to people of all faiths. Hope4Malawi is working to improve educational outcomes for: primary school students at Chimwembe FP, Chipwepwete FP. Mpemba LEA, Mafunde LEA, and Tapani FP, secondary school students at Hope CDSS, secondary school students selected to National & District schools and sponsored by H4D from the aforementioned primary schools, Hope CDSS graduates attending courses at Hope Skills Centre. Jana village, and university and college students sponsored by H4D. This educational work takes pla in specific areas and schools located in Traditional Authority Somba to the south of Blantrye. Using the Malawian govemment framework for the social economic development in Malawi, our work is particularly in the areas of: Human Capital Development- Education and Skills Development Improved access to education Adequate and appropriate infrastructure for all leamers and teachers Improved literacy Improved quality of education Measures used to monitor progress The following measures are monitored regularly. the measures are included from 2021. Number of primary school children fed each school day School children fed each school day ?000 1500 iooo 500 Hope CDSS m Mpemba LEA • Chipwepii'ete FP We have seen a reduction in attendance at the two primary schools. Number of Classrooms or Libraries or toilets constructed Page 3
Hope4Malawi Trustees, Report for the year ended 31 December 2024 Buildings constructed in schools 10 2021 2022 2023 2024 20?5 Primary w Secondary 2025 data is the buildings under construction at Hope CDSS. Buildings are only started once funding is in place. Number of bursary students: National & District, Hope CDSS, Tertiary Students provided with bursaries 150 50 ?022 7024 2025 Priman, • Secondar%" _ National & District ll SecondaTh". HO CDSS •TertiaTh" Number of school roles funded (e.g. guards, messengers, librarians, lab technicians) Roles in school funded 10 2021 20?2 20?3 20?5 Primary Schools • Secondary Schools Number of school leavers funded to attend Youth Development Programme Page 4
Hope4Malawi Trustees, Report for the year ended 31 December 2024 School leavers funded on Youth Development Programme 40 20 Pilot cohort First cohort second cohort 2023 L 2024 • 2025 2025 data is the planned number of students. The course will start in September 2025. Principal Funding Sources The main source of income for the charity are individuals and trusts. ACHIEVEMENTS AND PERFORMANCE Completion of a double classroom block and staff room at Chipwepwete Primary School (£34.000). Now all classes have 2 proper classroom and staff have their first staff room. Completion of the teaching block at the Skills Centre (£68.150) incorporating training room, computer room. bike maintenance and tsiloring rooms. Start of the Youth Development programme for 25 secondary school graduates (£5,500). They are engaged in active leaming of faith, character. business and life skills. They are undertaking work placement courses in areas like: tailoring, building. welding. building, bike maintenance, literacy. Fed over 2,000 school students each school day (£28,500) 90 bursaries provided to secondary school and tertiary education establishments (£23.145). Educational resources provided to primary and secondary schools (£9.650). Public benefit The Trustees believe they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. All the activities of the Charity (as summarised below) were undertaken to further its charitable purposes for public benefit. We are primarily working to prevent and relieve povety by training the next generation of young people. Education in primary schools: Infrastructure: Provision of classroom blocks and school desks Provision of a librarian and literacy classes, educational reSoUrS (text books, chalk, flipcharts for the school, A5 soft cover exercise books, pens for students). Provision of pha12 (sweet cornmeal porridge) for the school every school morning. Education in secondary schools.- Hope Community Day Secondary School Provision of a laboratory technician and chemicals, and three school guards, Provision of school uniform for all students. educational reSoUrS (text books. ch21k. flipcharts. for the school. A4 soft cover exercise books. pens for students). Provision of full and half bursaries for 15 students a year who are from poor families. Provision of phala for lunch every school day. Additionally, we provide bursaries for secondary school students from poor families who are selected to National & District secondary schools. The bursary covers school fees and transportation, uniform and a small allowance. Page 5
Hope4Malawi Trustees, Report for the year ended 31 December 2024 Education in tertiary education: We provide universityltechnical college bursaries for some of the students we have sponsored at secondary school. The bursary covers academic fees, a monthly living allowance and transportation. Students can also work at the Hope Skills Centre in their holidays to earn extra monies. We offed 30 places on the Youth Development Programme to alumni of Hope CDSS and of our secondary school National & District bursary programme. A number of the alumni opted to re- take form 3 and 4, whilst others moved away from the area. 25 students joined the YDP and have been engaged in active leaming of faith, character, business and life skills. They are undertaking work placement courses in areas like: tailoring. building, welding. building, bike maintenance. literacy. Other Education Additionally, we are also providing training in house building and composting for very poor adults. In the UK, we help UK school pupils understand the circumstances and challenges of the lives of school pupils in rural Malawi. Relief Work: we have helped schools repair buildings damaged in storms in 2023 and 2024. Volunteers, contribution We received support from volunteers. They assist in fund-raising, sponsorship communications, accounting and IT support. Investment pollcy The Hope4Malawi Trust Deed authorises the Trustees to make such investments as they deem appropriate. This Investment Policy restricts investments to any of the following: Bank deposits at UK FSA authorised banks; Gilts,. CDS issued by FSA authorised institutions with a credit rating of AA or better; Shares and securities, if the shares and securities are necessary for the achievement of the Hope4Malawi objects, and Land and buildings, if the land and buildings are necessary for the achievement of the Hope4Malawi objects. In 2024, we utilised only bank deposits and earned bank interest of £6,209 (2003: £3,327) Grant making policy We may make grants to Malawian organisations who are aligned with our strategy. In 2024, all of our grants are made to Hope4Development (a Malawian company limited by guarantee, Company number: TMBRS 1013380 and NGO Board registration No: NGOIU221025). Their strategy is aligned with ours and two of our trustees are directors of Hope4Devlopment. and we have a memorandum of understanding agreed with them. Fundraising Funds were raised in the following ways: Various individuals made monthly payments to the charity supporting sponsored children and the general running of the charity. Fund raising and communication events brought in additional funds. Grants from trusts that we approached with specific projects Monies raised by Trinity School in their support of Chipwepwete Full Primary School. Additionally we received some legacy income. Page 6
Hope4Malawi Trustees, Report for the year ended 31 December 2024 In line with the reporting requirements included in the Charities Act 2016 the Trustees are pleased to confirm that all fundraising is done in complianGe with best fundraising praGtiGe. No complaints were received about our fundraising praCtiS. Related parties Mark & Sara Goodman are directors of Malaviian NGO Hope4Development. The interactions between Hope4Malawi and Hope4Development is governed by a memorandum of understanding signed in 2023. FINANCIAL REVIEW The Trustees are so grateful to the many supporters, churches and Trusts who continue to give financial and sacrificially to Hope4Malawi. The income received in 2024 (including a legacy of £10,000) was in excess of £378,000, the highest for the charity yet. We remain very grateful for our ongoing partnership wilh Trinty School in Croydon who run a number of large scale fund raising events in the year and in 2024 released accumulated funds to us so that the classroom block could be built at Chipwepwete. A group of students from the school visit and get involved in project work most years. In 2024 Kings Ety School Cambridge also got involved with fundraising (partly through a number of challenges using JustGNing) for the second phase building at Hope. Supporter vistts also involved fundraising particularly for the equipping and launch of the new Skills Centre. All fund raising through Just Giving raised in excess of £53,000. Detailed figures and notes on expenditure can be seen in the following pages. Also set out below under future plans are the details of how the accumulated funds will be used over the next two years for the construction of new classroom blocks, toilets and a large school hall at Hope CDSS as well as a classroom block at Mafunde. In 2024 the charity was able to maintain its undertaking that all general donations will go directly work and development in Malawi. Hope4Malawi funds all UK running costs through gifts specif&qlly made to cover these costs by a small number of trUStS and supporters. The costs of trustee. volunteer supporter and team visits to Malawi are self-fvnded, mainly by matching contributions made to the charity. Reserves Policy Hope4Malawi believes that funds are given to be used for lis ministry. Its reserves policy is to ensure that there are sufficient cash resources to cover 2 months. contractual expenditure. If at the year end, non-project specific income exceeds budgeted expectations Ft will normally be applied to specific aspects of the wider work of Hope4Malawi. If however, estimated expenditure in the next financial year is expected to be greater than the estimated income for that year; appropriate sums of money will be kept in reserve to cover the estimated deficit. Additionally. it is sometimes necessary to support more complex projects or initiatives over periods which may be longer than one year and, in these circumstances, money may be designated for a specific purpose on the understanding that it will be spent within an agreed time frame. Additionalty, a buffer of £5,000 is kept to apply to relief work. At 31 December 2024 the charity had reserves of £387,648. of which £77.284 was restricted and £310,364 was unrestricted Future plans We plan to continue our interventions in primary. secondary and tertiary education. In tenns of infrastructure we will complete further building work at Hope Communty Day Secondary School so that it can become two form entry (100 pupils per year rather than just 50). This involves the construction of 4 classrooms. two toilet blocks and a school Hall. We also wish to construct a double classroom and library block at Mafunde primary h0O1. Page 7
Hope4Malawl Trustees, Report for the year ended 31 December 2024 The second year of the Youth Development Programme will start in September 2025 and we will be introducing new courses and options for students and training Malawians to run more of the courses. We will also be providing further secondary school bursaries and tertiary education bursaries from September 2025. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsibte for preparing the TnJ$t, Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: rhe Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom GeneralFy ACpted Accounting Practice). Company law 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 charrtable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trUstS are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP-, make judgments and accounting estimales that are reasonable and prudent". state whether applicable UK 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 cOnM basis unless it is inappropriate to presume that the charrtable company will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charttable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees report was approved on 4 June 2025 and was signed on behalf of the TTUStees by: Mark Goodman Trustee Sara Goodman Trustee Page 8
Independent examinevs report Hope4Malawi Report to the trustees HOPE4MALAWI On accounts for the year ended 31$1 December 2024 Charity no (if any) 1151124 I report to the trustees on my examination of the accounts of the above 311121202 charity (Ihe Trust.) for the year ended WIElE. Responsibilities and basis of report As the charivs trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {he Acf). report in respect of my examination of the Twsf 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 ty the Charity Commission under section 145{5)(b) of the Act. Independent examiner's statement The charity's gross income exceeded £250,000 and l arn qualified to undertake the examination by being a qualified member of FCCA &FCMA I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below ") which gives me cause to believe that in, any material respect: the accounting records were not kept in accordan with section 130 of the Charities Act" or the accounts did not accord with the accounting records. or the accounts did not compty with the applicable requirements conceming the fomi and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is riot a matter considered as part of an independent examination. I have no concems 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. . Please delete the words in the brackets rf they do not apply. Signed: Date: Name: ARTHUR M J V*lOLFFSOHN Relevant professional qualifiGation(s): FCCA FCMA Address: 31 S¥4."fltsEy C sb.rf Page 9
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Hope4Malawi Balance Sheet as at 31 December 2024 2024 2023 Notes Current assets Debtors Cash at bank and in hand 35,968 366.793 44,655 180,393 402.761 225,048 Creditors.. Amounts falling due within one year 10 15.113 9,916 Net current assets 387,648 215,132 Net assets 12 387,648 215,132 Funds General Funds Designated Funds 11 11 232,056 142,460 310,364 77,284 147,605 67,527 Restricted Funds 11 Total funds 387,648 215,132 The notes on pages 10 to 19 fomi part of these financial statements. These financial statements were approved by the board of trustees and authorised for issue on 4 June 2025 and are signed on behalf of the board by: Mark G¢)odma Trustee Sara Goodman Trustee Page11
Hope4Malawi Notes to the Financial Statements for the year ended 31 December 2024 ACCOUNTING POLICIES Hope4Malawi is a Charitable Incorporated Oiganisation registered as a charity in England and Wales. The principal office is address of the registered office is 26 Northey Avenue, Cheam. Sutton SM2 7HR. Basis of preparation The financial statements have been prepared under the Charities Act 2011, and in accordan WTth the Charities Statement of Recommended Practice (Charities SORP (FRS 102)). and Financial RetK)rting Standard 102 (FRS 102). The financial statements are prepared in sterling. rounded to the nearest pound. The charity is a Public Benefrt Entty as defined by FRS 102. Assets and liabilities are initially recognised at htstorical cost or transaction value unless othep*Yise stated in the ielevant accounting policy. Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charrty has adequate resour to cont'nue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial statements. InGome All income is included in the Statement of Financial Activities (SOFA) when the charty is legally entitled to the income, it is probable that the income will be received and the amount can be reliably measured. Donations and gifts. other than legacies, are credited to the SOFA on receipt. Legacies are credited to the SOFA in the year in which the benefactor died where the amount receivable can be reliably determined and it is probable that it will be reiVed Expenditure All expenditu is accrued as soon as a liabilty is considered probable, and has been classified under headings that aggregate all costs related to the category. Expenditure on charrtable activities is incurred on directly undertaking the activities which furthet the Chanty's obJ"ectives. as well as any associated support costs. Cash at bank and in hand Cash at bank and in hand includes cash and short-ten highly liquid investments with a short matuiity of three months or less from the date of acquisttion or opening of the deposit or similar account. 1.6 Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probabty result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount. Provisions have been calculated at the best estimate of the settlement amount Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequentty measured at their settlement value with the exptIon of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 12
Hope4Malawi Notes to the Financial Ststements for the year ended 31 December 2024 ACCOUNTING POLICIES (continued) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charty and which have not been designated for other purposes. Restricted funds are funds whtch are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charty for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Accounting estimates and judgements There were no significant estimates and judgements made by the charity. Donations and legacies 2024 Totsl 2023 Total Unrestricted Restricted tk)nations Legacies Sponsorship Youth Development Trinity income for Chipwepwete Gift aid 232.192 10.000 232,192 10.000 35,751 18.857 49,387 25,623 134,020 10,000 31,117 3,435 9,931 43.648 35,751 18,857 49.387 25.623 267,815 103,995 371,810 232,151 Other trading activities 2024 Total 2023 Total Unrestrictod Restricted Feast of Music night hosted by Tim Vine 5,347 5,347 Pa 13
Hope4Malawi Notes to the Financial Ststements for the year ended 31 December 2024 Investments 2024 Total 2023 Total Unrestricted Restricted Bank interest received 6.209 6,209 3,327 6,209 6,209 3.327 Expenditure on charitsble activities 2024 Total 2023 Total Unrestricted Restricted Ongoing Programmes Sponsorship schemes Building projects Progrsmmes at Chipwepwete funded by Trinity Costs of items financed by other funds Skills Centre & Youth Development Programme Longer term purchases - bikes fumiture library lab equipment Project Management Trustee costs Team and supporter costs in Malawi Support costs (note 6) 24.027 24,211 31,644 50.000 39.752 31,924 117,581 31,644 10.000 40,000 47.099 4,100 47,099 5,907 8,700 30,631 1,807 15.276 1.211 16,487 2,971 4,000 6,657 11,510 7.988 4,000 6.657 11,510 7,988 1,962 11.019 4,160 5,203 111,265 94.238 205,$03 251.903 Grants to Hope4Development Hope4Development is a Malawian registered NGO formed in 2021. It has similar objectives to Hope4Malawi and seeks funding for projects from Hope4Malawi. It also owns land and buildings in Malawi and employs staff. Mark & Sara Goodman (trustees of Hope4Malawi) are also direclors of Hope4Development, along with two other directors. Hope4Development has its own governance structure and report and accounts. There is a memorandum of understanding between Ihe two organisations. Hope4Malawi is not under any obligation to fund Hope4Development projects and Hope4Malawi also funds other organisations and projects directly. Hope4Development may seek funds from other funding organisations. Page 14
Hope4Malawi Notes to the Financial Statements for the year ended 31 December 2024 Grants to Hope4Development (continued) Hope4Malawi provided £139.250 (£163,450 2023) of grants to Hope4Development. 2024 2023 Feeding Programmes 28.500 21.010 Skills Centre Building 50,000 68.148 Chipwepwete classrooms 34.000 Equipment for primary schools 4,000 Skills Centre set up 3,500 Staffing Skills centre 7,500 2,500 Hope Solar paIrS 6,250 Relief after Storm Freddy 4.000 28.500 Directors Fees H4D 1,250 Cart)on off*t- trees 250 Land purchased at Hope 5,000 Mpemba dassrmS 38,292 Totals £139,250 £163.450 Support costs 2024 2023 Office expenses Insurance Administrator costs Bank charges Exchange rate lossesl(gains) Independent examination fee AGGountanGy fee 1,032 2,168 900 1,091 1.155 1,700 1,539 (282) 3,193 (205) 7,988 5,203 Page 15
Hope4Malawi Notes to the Financial Statements for the year ended 31 December 2024 Staff costs There were no staff costs in either the current or prior year. No member of staff received payments in excess of £60.000 in the current or prior year. Trustees. remuneration and expenses During the year. no trustees reGeived any remuneration or other benefts (2023: £nil). No trustees were reimbursed personal expenses in the year (2023" nil). Debtors 2024 2023 Tax recoverable Prepayments and other debtors 18,500 17,468 43,648 1,007 35.968 44,655 10 Creditors: Amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals & deferred income 920 3.250 10,943 9,916 15,113 9,916 Pa9e 16
Hope4Malawi Notes to the Financial Statsments for the year ended 31 December 2024 Funds (continued) Balances brought forward Income Expenditure Transfers Balance carried forward 2023 Designated Mpemba classroom block build fund MLP app Hope building Phase 2 Hope resourcing Solar lamps UFULU (previously Project My Girl) Carbon offsetting RE reSoUrS and Bibles 30,000 (30,000) 150 (150) 556 556 1,328 1,589 630 12.615 2,398 3,096 (11.287) (809) (250) (2,216) 750 750 292 700 (408) 49.009 1,256 (42.754) {2,366) 5,145 General General funds 114.764 156,188 (131,826) 3,334 142,460 Total unrestricted funds 163,773 157.444 (174.580) 968 147,605 Restricted funds Youth Development fund Feeding programmes Relief Fund Storm Freddy National & District Sponsorship Untversity Sponsorship Hope CDSS sponsorship Chipwepwete - funded by Trinity Trinity Period Poverty fund 3.435 3.435 8.538 (8,538) {28,628) (11.710) 38.898 11.047 10.270 19,364 20,027 6.999 13,071 7,714 (6,719) (13,081) (6,700) 9.244 18,809 6,135 18.819 6,089 (968) 2,217 (1,947) 270 Total restricted funds 62,437 83,381 (77.323) (968) 67,527 Totsl funds 226.210 240.825 (251.903) 215,132 Pago 18
Hope4Malawi Notes to the Financial Statements for the year ended 31 December 2024 11 Funds Balances brought forvrdrd Income Expenditure Transfers Balance carried forward 2024 Designated Hope building Phase 2 Hope resourcing Solar lamps UFULU (previously Project My Girl) Carbon offsetting RE resources and Bibles 556 1,328 1.589 630 74,584 75,140 (1.328) 1.589 (630) 750 292 (750) {413) 1.700 1,579 5.145 76,284 (3.121) 78,308 General General funds 142,460 197,740 (108.144) 232,056 Total unrestricted funds 147,605 274,024 {111.265) 310,364 Restricted funds Youth Development fund Relief Fund Storm Freddy National & District Sponsorship Universty Sponsorship Hope CDSS sponsorship Chipwepwete - funded by Trinity Trinty Period Povety fund 3.435 10,269 19,364 9,244 18,810 6,135 18.857 (1.211) (4,100) (15,734) (8,354) {17,740) (45,250) 21,081 6,169 9,498 13,779 18,064 8,103 5,868 12.889 16,994 47,218 270 2.169 (1.849) 590 Total restricted funds 67,527 103.995 (94,238) 77,284 Tot21 funds 215.132 378.019 (205.503) 387.648 Page 17
Hope4Malawi Notes to the Financial Ststements for the year ended 31 December 2024 Funds (continued) Sponsorship Funds National &District - donations are used to support the named student's secondary education. including school fees, allowanS. exam fees, trdnsport and books Hope CDSS - donations restricted to support secondary educatton of named students at Hope CDSS and also some school-wide costs including uniforms, equipping laboratory and library. teacher inntives, resourcing, lunches and additional support staff University- donations to support named students in tertiary education including school fees. exam fees, allowance, equipment, research projects and travel Youth Development Programme Fund- funds used to cover couise trainers, equipment & materials, staffing and lunches Relief Fund Stonn Freddy {2023) funds raised from a specific appeal, used to provide immediate relief for those affected; also training for and help with rebuilding damaged homes and infrastructure as well as supporting initialives to safeguard against damage from futu stoms Trinity Partnership funds raised by Trinity School, Croydon to support Chipwepwete Primary or other agreed projects. Costs covered include providing the feeding programme, building and maintaintng school infrastructure, like the rent classrts)m block. plus other resourcing as agreed each year. It also includes the Period Poverty programme which is used for the education of the young people and sustainable menstrual product supply pemba classroom block fund - funds specificalty given and used for the building of an additional classroom block at Mpemba Hope building phase 2 - finds given and used for the building of new classroom blocks at Hope to enable two form entry from 2025 Feeding Programmes - donations to be used for the provision of phala at primary schools MLP app - funds gtven and used for the development of the software for Malawi Learning Programme in primary schools on mobile phones or tablets UFULU - funds given and used to eduGate girls and their families and providing sustainable menstwal products so that they can attend school all the time Hope resourcing - funds given to speclcallY equip Hope CDSS after its initial phase 1 building Solar lamps - Funds given to enable the purchase of solar lamps which students could borrow lo take home and enable readinglhomework in the evenings Carbon offsetting - a gift given to be used in a way that offset carbon footprint eg planting trees RE Resources &Bibles - gifts given to purchase of bibles, RE or Christian resources only Page 19
Hope4Malawi Notes to the Financial Statements for the year ended 31 December 2024 12 Analysis of net assets between funds Unrestricted Restricted Total Fund balances at 31 December 2024 are represented by: Current assets Creditors due within one year 325,477 (15.113) 77,284 402,761 (15.113) Total net assets at 31 December 2024 310,364 77,284 387,648 Unrestricted Restrictod Total Fund balances at 31 December 2023 are represented by: Current assets Creditors due within one year 157.521 {9,916) 67,527 225,048 {9,916) Total net assets at 31 December 2023 147.605 67,527 215,132 13 Related party transactions Hope4Malawi made grants to Hope4Development. as set out in Note 5 above. The charities have common trustees as explained. Hope4Malawi also received donations from olher charities where Hope4Malawi truslees are also trustees. There yre no other related party transactions (2023 . None). Paue 20