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2025-10-31-accounts

Charity registration number 1163037 (England and Wales)

Company registration number 08733254

THE MWEZI FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

THE MWEZI FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Secretary

M Hamblin C Paye W Durigan M Keat A Miller

C Paye

(Appointed 19 May 2025) (Appointed 19 May 2025)

Charity number 1163037 Company number 08733254 Registered office 12 Vicarage Road Henley-On-Thames Oxfordshire United Kingdom RG9 1HJ Independent examiner Mark Jackson FCA DChA Westpoint Lynch Wood Peterborough Cambridgeshire United Kingdom PE2 6FZ

Bankers

Lloyds Bank 15 Blackheath Village Blackheath London United Kingdom SE3 9LH

THE MWEZI FOUNDATION

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 13

THE MWEZI FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 OCTOBER 2025

The trustees present their annual report and financial statements for the year ended 31 October 2025.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Objectives and activities

The charity's objects were changed by Special Resolution dated 19 October 2021 to the following:

  1. To relieve poverty through donating or otherwise facilitating the provision of solar energy to those in need in Kenya or anywhere else in the world that the trustees decide.

  2. To advance the education of the public in matters relating to solar energy, climate change and the protection of the environment and to carry out and disseminate the results of research into all aspects of energy generation, distribution, supply and use.

  3. To advance education by making grants for the payment of educational fees and the associated costs of attending educational establishments.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Financial review

This was the eleventh full year of the charity’s activities. During this year the charity continued its work in the production and free distribution of solar lights, as well as in the granting of educational scholarships.

Using our redesigned solar light casing we manufactured and donated 2,694 new lights during this year and repaired and put back into circulation a further 2,624 lights. We also increased the number of schools supported by the Foundation.

We continued to receive generous financial donations from individual donors and charitable trust funds during this year, which enabled the Trustees to expand the number of schools that we support. Specific donations to cover the cost of repairing lights have also helped to increase the number of lights in circulation. At the end of this year we were supporting 270 schools with solar lights to enable their students living off-grid to study during the hours of darkness. Within those schools we maintain and repair the donated lights and monitor student performance.

During the year, we continued to assist students with Mwezi Foundation scholarships and were supporting 6 students through their secondary school education by paying their school fees and ancillary costs, thanks to the support of individual sponsors.

The charity’s bankers continue to be Lloyds Bank.

During the year the charity raised £68,962 in donations and other income.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

THE MWEZI FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

Structure, governance and management

The charity is a company limited by guarantee. The charity was registered with the Charity's Commission on 6 August 2015.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

the date of signature of the financial statements were:
M Hamblin
C Paye
G Coltman (Resigned 30 June 2025)
S Dawson-Coltman (Resigned 30 June 2025)
W Durigan
M Keat (Appointed 19 May 2025)
A Miller (Appointed 19 May 2025)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Details of organisational structure: during the period there were five trustee directors who fulfilled the roles of Chairman and Treasurer.

The Trustees' report was approved by the Board of Trustees.

M Hamblin Trustee

21 July 2026

THE MWEZI FOUNDATION

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MWEZI FOUNDATION

I report to the trustees on my examination of the financial statements of The Mwezi Foundation (the charity) for the year ended 31 October 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Mark Jackson FCA DChA

Azets

Westpoint Lynch Wood Peterborough Cambridgeshire PE2 6FZ United Kingdom

Dated: 27 July 2026

THE MWEZI FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 OCTOBER 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
12,173
56,789
Investments
4
155
-
Total income
12,328
56,789
Expenditure on:
Charitable activities
5
34,743
33,633
Total expenditure
34,743
33,633
Net income/(expenditure)
(22,415)
23,156
Transfers between
funds
-
-
Net movement in
funds
(22,415)
23,156
Reconciliation of funds:
Fund balances at 1 November
2024
34,465
7,542
Fund balances at 31 October
2025
12,050
30,698		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
68,962
11,037
41,945
155
108
-
69,117
11,145
41,945
68,376
14,714
34,463
68,376
14,714
34,463
741
(3,569)
7,482
-
(60)
60
741
(3,629)
7,542
42,007
38,094
-
42,748
34,465
7,542		 Total
2024
£
52,982
108
53,090
49,177
49,177
3,913
-
3,913
38,094
42,007

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE MWEZI FOUNDATION

BALANCE SHEET

AS AT 31 OCTOBER 2025

Notes
Current assets
Stocks
11
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
The funds of the charity
Restricted income funds
14
Unrestricted funds
15		 2025
£
18,852
3,171
21,395
43,418
(670)		 £
42,748
30,698
12,050
42,748		 2024
£
11,237
149
31,245
42,631
(624)		 £
42,007
7,542
34,465
42,007

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 October 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 21 July 2026

M Hamblin

Trustee

Company registration number 08733254 (England and Wales)

THE MWEZI FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

1 Accounting policies

Charity information

The Mwezi Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 12 Vicarage Road, Henley-On-Thames, Oxfordshire, RG9 1HJ, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE MWEZI FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and included audit fees and costs linked to the strategic management of the charity.

Costs are allocated, where possible, directly to the activity. Where the cost is not directly attributable it is allocated by informed management's best estimate of the activities undertaken.

1.6 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE MWEZI FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
12,173
56,789
For the year ended 31 October 2024
11,037
41,945		 Total
2025
£
68,962		 Total
2024
£
52,982
52,982

4 Investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 155 108

THE MWEZI FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

5 Charitable activities

Provision of
lighting
School
scholarship
fees
£
£
Consultancy
3,550
-
Bank charges
629
-
Subcontractors
6,744
-
Components
33,132
-
Freight and transport costs
6,688
-
Grants to The Mwezi Foundation (Kenya)
13,153
-
Rent
785
-
Miscellaneous expenditure
1,095
-
Scholarship fees
-
1,930
65,776
1,930
Share of governance costs (see note 6)
670
-
66,446
1,930
Analysis by fund
Unrestricted funds
34,743
-
Restricted funds
31,703
1,930
66,446
1,930		 Total
2025
£
3,550
629
6,744
33,132
6,688
13,153
785
1,095
1,930
67,706
670
68,376
34,743
33,633
68,376		 Total
2024
£
3,300
408
14,078
25,000
2,076
-
778
1,146
1,767
48,553
624
49,177
14,714
34,463
49,177

During the year The Mwezi Foundation (Kenya) was established. Those previously paid as subcontractors are now employed by The Mwezi Foundation (Kenya) however their employment costs are covered by The Mwezi Foundation. This is shown above as Grants to The Mwezi Foundation (Kenya).

6 Support costs

Support costs
Governance
costs
£
Accountancy
670
670		 2025
£
670
670		 2024
£
624
624

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year, and none of them were reimbursed travelling expenses.

THE MWEZI FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

8 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2025 2024
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
10
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
3,171
149
Carrying amount of financial liabilities
Measured at amortised cost
670
624
11
Stocks
2025
2024
£
£
Raw materials and consumables
18,852
11,237
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
3,171
149
13
Creditors: amounts falling due within one year
2025
2024
£
£
Accruals and deferred income
670
624		 The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
10
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
3,171
149
Carrying amount of financial liabilities
Measured at amortised cost
670
624
11
Stocks
2025
2024
£
£
Raw materials and consumables
18,852
11,237
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
3,171
149
13
Creditors: amounts falling due within one year
2025
2024
£
£
Accruals and deferred income
670
624		 The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
10
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
3,171
149
Carrying amount of financial liabilities
Measured at amortised cost
670
624
11
Stocks
2025
2024
£
£
Raw materials and consumables
18,852
11,237
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
3,171
149
13
Creditors: amounts falling due within one year
2025
2024
£
£
Accruals and deferred income
670
624
2025
£
3,171
670
2025
£
18,852
2025
£
3,171
2025
£
670		 2024
£
149
624
2024
£
11,237
2024
£
149
2024
£
624

Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement in funds
Movement in funds		 Incoming
Resources
Transfers
Balance at
Incoming
Resources
Balance at		 resources
expended
1 November
resources
expended
31 October		 2024
2025		 £
£
£
£
£
£
£		 School Scholarships
1,729
(1,767)
38
-
2,419
(1,930)
489		 Provision of Solar Lights
21,965
(18,486)
-
3,479
26,465
(7,596)
22,348		 Lights for Large Classes
3,822
(1,529)
-
2,293
2,000
(4,239)
54		 Lights for Grade 6 Girls
5,000
(5,022)
22
-
-
-
-		 Observational study, including provision of solar lights
9,429
(7,659)
-
1,770
-
(495)
1,275		 Schools with a good track record
-
-
-
-
14,055
(10,965)
3,090		 Repair of solar lights
-
-
-
-
11,850
(8,408)
3,442		 41,945
(34,463)
60
7,542
56,789
(33,633)
30,698
14

THE MWEZI FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 Incoming Resources Transfers At 31 October Transfers At 31 October
November resources expended 2025
2024
£ £ £ £ £
General funds 34,465 12,328 (34,743) - 12,050
Previous year: At 1 Incoming Resources Transfers At 31 October
November resources expended 2024
2023
£ £ £ £ £
General funds 38,094 11,145 (14,714) (60) 34,465
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 October 2025:
Current assets/(liabilities) 12,050 30,698 42,748
12,050 30,698 42,748
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 October 2024:
Current assets/(liabilities) 34,465 7,542 42,007
34,465 7,542 42,007

16 Analysis of net assets between funds

17 Related party transactions

During the year there were donations received from Trustees totalling £6,230 (2024 - £5,580).