# **CHARITY REGISTRATION NUMBER 1177645 MYMALAWI** # **FINANCIAL STATEMENTS 31 AUGUST 2024** ## **MYMALAWI** ## **FINANCIAL STATEMENTS PERIOD TO 31 AUGUST 2024 CONTENTS PAGE** |Trustees Annual Report|1-3| |---|---| |Independent Examiners Report|4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes|7-9| ## **MYMALAWI** ## **TRUSTEES ANNUAL REPORT PERIOD TO 31 AUGUST 2024** The Trustees have pleasure in presenting their report and the unaudited financial statements of the Charity for the period to 31 AUGUST 2024. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered charity name** MYMALAWI ## **CHARITY REGISTRATION number** 1177645 **Registered office:** 18 STOUGHTON DRIVE NORTH, LEICESTER, LE5 5UB ## **THE Trustees** The Trustees who served the charity during the period were as follows: SALIM HAROON ALIMOHAMED ANAS ISMAIL KASAK SHAKEEL OSMAN SABINA SALIM ALIMOHAMED ## **Independent Examiners** Fusion Accounting Ltd 398A East Park Road, Leicester, LE5 5HH ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** MYMALAWI is a Charitable Incorporated Organisation (CIO) governed by constitution and registered with the Charity Commission on the 21st of March 2018. ## **OBJECTIVES AND ACTIVITIES** The objectives of the organisation, as set out in its governing document are: - (i) To relieve financial hardship, distress and suffering among poor people, victims of natural and man-made disasters and other people in need by means of, but not exclusively, making grants or loans for providing or paying for items, equipment, services and facilities, including the provision of food, clean water, clothing, water irrigation systems and livelihood programmes for the benefit of the said persons; - (ii) To advance education for the benefit of the poor, the illiterate and the general public by means of, but not exclusively, the provision or assistance in the provision of educational resources, equipment, activities and facilities, such as schools, libraries, training centres and scholarships; - (iii) To relieve sickness and to preserve good health among persons in need, by means of, but not exclusively, the provision or assistance in the provision of facilities such as testing and treatment centres and clinics for the benefit of the said persons; - (iv) To advance the religion of Islam, by means of, but not exclusively, provision or assistance in the provision of facilities for Islamic education in accordance with the teachings of the Quran and Sunnah of the Prophet Muhammad (peace and blessings be upon him). **- 1 –** ## **MYMALAWI TRUSTEES ANNUAL REPORT** _**(continued)**_ **PERIOD TO 31 AUGUST 2024** ## **ACHIEVEMENTS AND PERFORMANCE** During the year, MYMALAWI has successfully delivered a programme of supporting the poor and needy in Malawi. During the year, the charity distributed wheelchairs, medical supplies for clinics and blankets and food packs for those in poverty benefitting over 4,500 families. ## **PUBLIC BENEFIT STATEMENT** The trustees have considered the general guidance on public benefit issued by the Charity Commission and has taken due regard of that guidance. The trustees consider that they are satisfied that the charity’s activities do benefit the public as it is meeting an identifiable need among needy. The trustees have benefitted many needy individuals and families and has helped them to alleviate their financial needs in times of desperation. ## **GRANT MAKING POLICY** The charity gives grants to the poor. Poor families are eligible for grants if they are able to provide confirmation of poverty or hardship, which is based on their area of residence, state of accommodation (if any), employment or income levels and number of dependents. ## **FINANCIAL REVIEW** MYMALAWI had secured funds from public donors and grant makers for their activities totalling £197,422 (2023: £416,616) during the year. This level of income was mainly due to the profile increasing of the charity and more donors recognising our grassroots projects working directly with the needy persons in Malawi. We are grateful for their kind support. The donations were a combination of Zakaat, Sadaqah, Lillah, and Fidya money. During the year, the charity had a total expenditure of £213,290 (2023: £435,294). Of this, £204,200 were grants for charitable activities. This generated a deficit of £15,868 which was met with prior year surpluses. The charity had unrestricted reserves of £4,705 at the end of the year, of which the charity intends to retain £2,000 for administration costs. The charity maintains a 100% donation policy for all non-Lillah funds and only uses Lillah funds to cover administration costs. ## **PLANS FOR FUTURE PERIODS** Future plans are to continue to run poverty relief projects in Malawi and other parts of the world as and when the need arises. - **2 -** MYMALAWI TRUSTEES ANNUAL REPORT (cl￿tInUed) PERIOD TO 31 AUGUST 2024 RESPONSIBILITIES OF THE TRUSTEES The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 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 alfairs of the charity and ol 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; obseNe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., stale whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financlal position ol the charity and enable them to ensure thal the financial statements comply with the Charilies Act 1993 and the Charity (Accounts and Reports) Regulations 2008. 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. APPROVAL The report was approved by the Trustees on 2610512025 And signed on their behalf by Mr. Salim H Alimoham8d Chairman MYMALAWI INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31SI August 2024. Responslbilities and basis ol report The charity's trustees are responsible for the preparation of the accounts. The charity's trustees Consider that an audit is not required for this year under section 144 of the Charities Act 2011 ('the Charities Acl'l and that an independent examination is sufficienl for external scrutiny. It is my responsibllity to.. examine the accounts under section 145 of th8 Charities Act. lo follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5){bl of the Charities Acl, and to stale whether particular matters have come to my attention Ba818 of Independont examlnevs statoment My examination was carried out in accordance wilh general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audll, and consequ8nlly no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited lo those matters set out in the statement below. Indep8ndent examlner'8 8tatement In connection with my examination, no material matters have come to my attention which gives me Caus8 to believ8 that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Acl. or the accounts did not accor(I with the accounting records,. or the accounts did not comply with the applicable requirements concerning the lomi 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 fair, view which is not a matter considered as part of an independent examination. I 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 reach8d. Muhammad Suleman Principal Accountant Fusion Accounting Ltd 398A East Park Road, Leicester, LE5 6GE 2610512025 ## **MYMALAWI** ## **STATEMENT OF FINANCIAL ACTIVITIES (SOFA) PERIOD TO 31 AUGUST 2024** |||||**Total Funds**|| |---|---|---|---|---|---| |||**Unrestricted**|**Restricted**|**Period to**|**_Total_**| |||**Funds**
|**Funds**|**31 Aug 24**|**_31 Aug 23_**| ||**Note**|**£**|**£**|**£**|**£**| |**INCOME from**|||||| |donations and legacies|
**2**|**197,422**|**-**|**197,422**|**_416,616_**| |charitable activities|||||| |other trading activity|||||| |Investment income|||||| |Other income|||||| |**Total**||**197,422**|**-**|**197,422**|**_416,616_**| |**EXPENDITURE**|||||| |on raising funds||**-**|**-**|**-**|**_-_**| |charitable activities|**3**|**212,540**|**-**|**212,540**|**_434,194_**| |other expenditure|**4**|**750**|**-**|**750**|**_1,100_**| |**Total**||**213,290**|**-**|**213,290**|**_435,294_**| |Net Income before Tax||**(15,868)**|**-**|**(15,868)**|**_(18,678)_**| |Tax payable||**-**|**-**||| |Net income after Tax||**(15,868)**|**-**|**(15,868)**|**_(18,678)_**| |Net gains/losses on assets|||||| |
**NET DEFECIT**||**(15,868)**|**-**|**(15,868)**|**_(18,678)_**| |Transfers between funds|||||| |||**-**|**-**|**-**|**_-_**| |Net movement in funds|||||| |||**-**|**-**|**-**|**_-_**| |**Reconciliation of funds**|||||| |Total funds brought forward||**20,573**|**-**|**20,573**|**_39,251_**| |**Total funds carried**||**4,705**|**-**|**4,705**|**_20,573_**| |**forward**|||||| **-5-** MYMALAWI BALANCE SHEET PERIOD TO 31 AUGUST 2024 Total Funds Perlod to 31 Aug 24 Unrestrlcted Restricted Funds Funds Total 31 Aug 23 Note CURRENT ASSETS Cash in hand and bank 11,065 11,065 26,183 Tolal 11.065 11,065 26,183 LIABILITIES Creditors falling due within 6 one year 6,360 5,610 Net current assets 20,573 Total assets less current liabilities 4,705 20,573 Total Net Asgels 4,705 20,753 The funds of the charlty Unrestricted funds Restricled funds ..4,705 20,573 Total 4,705 20,573 These accounts were approved by the Trustees on 2610512025 and are signed on their behalf by: VAIVAVI.•J J Mr. Salim H Alimohamed Chairman CHARITY REGISTRATION Number: 1177645 ## **MYMALAWI** ## **NOTES TO THE FINANCIAL STATEMENTS PERIOD TO 31 AUGUST 2024** ## **1. ACCOUNTING POLICIES** ## **a) Basis of accounting** The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011. The accounting policies are relevant to the size and nature of the charity's income for the period. The charity constitutes a public benefit entity as defined by FRS 102. ## **b) Fund accounting** Unrestricted funds are general funds that are available for use at the trustees' discretion in furtherance of any of the objectives of the charity. Restricted 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 and the restriction means that the funds can only be used for specific projects or activities. ## **c) Incoming resources** Voluntary income, including donations, gifts and legacies and grants that provide core funding or are of a general nature, are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract or where entitlement to grant funding is subject to specific performance conditions. Grant income included in this category provides funding to support programme activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. ## **d) Resources expended** Expenditure is recognised when a liability is incurred. Funding provided through contractual agreements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being an unavoidable commitment. Costs of raising funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. **-7-** ## **MYMALAWI** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) PERIOD TO 31 AUGUST 2024** ## **2. DONATION & LEGACIES – BY FUND TYPE** ||**Unrestricted**|**Restricted**|**Total Funds**|**_Total_**| |---|---|---|---|---| ||**Funds**|**Funds**|**2024**|**_2023_**| ||**£**|**£**|**£**|**£**| |Donations|197,422|-|**197,422**|**287,856**| |Grants from charities|-|-|**-**|**128,760**| |**Total**|**197,422**|**-**|**197,422**|**416,616**| ## **3. EXPENDITURE - Charitable Activities** Grants making is primarily undertaken by the charity field representative or partner charities in areas of benefit. The analysis below is broken down in countries of operation. |||**Unrestricted Restricted**|**Unrestricted Restricted**|**Total Funds**|**_Total_**| |---|---|---|---|---|---| |||**Funds**|**Funds**|**2024**|**_2023_**| |||**£**|**£**|**£**|**£**| ||Grants - Malawi 204,200||-|**204,200**|**244,877**| ||Grants - Turkey -||-|**-**|**182,245**| ||Travel & Freight Costs|8,100|-|**8,100**|**5,687**| ||Bank Charges|240|-|**240**|**481**| ||Stationery & Sundries -||-|**-**|**894**| ||**________**||**_______**|**_______**
|**_______**| |**TOTAL**|**212,540**||**-**|**212,540**
|**434,184**| |**4. EXPENDITURE – Other Expenditure**|||||| |||**Unrestricted Restricted**||**Total Funds**|**_Total_**| |||**Funds**|**Funds**|**2024**|**_2023_**| |||**£**|**£**|**£**|**£**| |**Governance Costs**|||||| |Accountancy Fees||750|-|750|1,110| |||**_____**|**____**|**_____**|**____**| |**TOTAL**||**750**|**-**|**750**|**1,110**| **-8-** ## **MYMALAWI** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) PERIOD TO 31 AUGUST 2024** ## **5. Staff Disclosures** No staff costs incurred during the period. Total number of staff employed during the period is 0. ## **6. LIABILITIES: Amounts falling due within one year** **£ Trade creditors** Accountancy & Examination Fees for 2021 750 Accountancy & Examination Fees for 2022 750 Accountancy & Examination Fees for 2023 1,110 Accountancy & Examination Fees for 2024 750 Loan given by S Alimohamed 3,000 ==== **TOTAL 6,360** ## **7. CONNECTED PARTY TRANSACTIONS** There were no payments made to any trustee or connected person during the period for any remuneration or expenses. A loan of £3,000 was due to trustee S Alimahomed at the end of the period. **- 9 -**