REGISTERED CHARITY NUMBER: 1183509
Report of the trustees and Financial Statements for the
Year Ended 01 January 2023
The Nansambo Schools Fund
**The Nansambo Schools Fund**
## **Contents of the Financial Statements for the Year Ended 01 January 2023**
||Page|
|---|---|
|Company Information|1|
|Report of the Trustees|2|
|Independ Examiner’s Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9|
**The Nansambo Schools Fund**
## **Company Information for the**
## **Year Ended 01 January 2023**
## **Report of the Trustees**
## **for the Period 02 January 2022 to 01 January 2023**
The trustees present their report with the financial statements of the charity for the year ended 1 January 2023. The trustees have adopted the provisions of 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).
## **REFERENCE AND ADMINISTARTIVE DETAILS**
Registered Charity Number: 1183509
## **Principal Address**
28 Batchwood Drive St Albans Hertfordshire AL2 3AQ
## **Trustees**
John Tobin (Chair) Susan Tobin Jane Tobin
## **Independent Examiner**
Samuel Troy ACA Connected Accounting Limited 2 Victoria Square Victoria Street St Albans Hertfordshire AL1 3TF
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**The Nansambo Schools Fund**
## **Trustees’ Report for the**
## **Year Ended 01 January 2023**
## **OBJECTIVES AND ACTIVITIES**
For the public benefit in Malawi the relief and assistance of the children and organisation of the Nansambo First Primary and Balamanja Secondary Schools in the Chingale District, through the provision of education through supporting materials and facilities, and pupil sponsorship, to create the opportunity of better futures built on individual study and academic achievement.
## **Public benefit**
The trustees recognise their responsibilities towards public benefit under the requirements of the Charities Act 2011.
## **ACHIEVEMENT AND PERFORMANCE**
Once again our plans to travel to Malawi in 2022 had to be cancelled due to continuing travel restrictions during 2022, as a result of the Covid-19 Pandemic, and the canceling by two International Airlines of “through” flights from England to Malawi. Plans are well advanced, however, for a visit by the Chairman of the Nansambo Schools Fund and a group of friends to go ahead in early August 2023. Included in the group will be two UK teachers who are keen to see how education provision compares between the UK and Malawi. A significant amount of other work including the construction of a new boys toilet block, the repair and maintenance of five classrooms and servicing of the bore hole, twice, was undertaken during 2022. Learning materials and additional books for the Nansambo School Library have been supplied to the Primary School.
At the end of 2022, having sponsored an additional eleven pupils, a total of twenty nine ex- Nansambo Primary School pupils were being sponsored by the Nansambo Schools Fund to attend the Balamanja Secondary School and the total spending costs for the sponsored pupils - which included school fees, examination fees and compulsory uniform purchase, had tripled by the end of 2022, compared to the end of 2021. Although the number of students being sponsored increased significantly the costs increased disproportionately - but these costs are manageable for the Fund.
Devaluation of the Malawi Kwacha in the Spring and a national inflation rate of 25% during 2022 has impacted on families, especially in Rural areas, on the affordability of being able to send their children to secondary school – even if selected to attend – because school fees alone had doubled in the year. We decided, because of this, to increase the number of students sponsored at secondary school and the Fund is now sponsoring in excess of 14% of the students attending the Balamanja Secondary School.
Those of our sponsored pupils, at secondary school, who sat National Examinations continued to exceed national pass rates. The national pass rate for the Junior Certificate of Education Examination was 73%. The sponsored pupils achieved 100% pass rate. The national pass rate for, the higher national examination, the Malawi Secondary Certificate of Education was 58%. The sponsored pupils achieved 67% pass rate. A significant achievement for pupils who live in a Rural area and attend a very Rural school which lacks many of the facilities available to schools which are located in Urban areas.
Throughout 2022 the Charity remained very active and our local representative Francis Chilunga kept us closely informed and guided projects on our behalf. He liaised with the four Assistant Teachers who we continue to fund at the primary school and with both the primary and secondary school Headteachers at Nansambo. He supervised the maintenance and required minor repairs, by a professional company, of the bore hole twice during the year. Other supervision undertaken by Francis Chilunga included the building of four completely new boys toilets, the minor repair and painting of five, of the schools nine, classrooms and the painting of the school Library, built by the Fund at Nansambo Primary School, for all pupils of the primary and secondary schools and for the Community.
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**The Nansambo Schools Fund**
## **Trustees’ Report for the**
## **Year Ended 01 January 2023**
Our priorities in 2022 were:
1. Most importantly, the annual maintenance and any minor repairs needed to the borehole to be carried out, to continue to safeguard a fresh, clean water supply for the Nansambo Primary School and for the Community.
2. The building of a new four boys toilet block, following the collapse of the old toilet block built by the Nansambo Schools Fund 12 years ago. The collapse was unexpected but caused by heavy rains and the degradation of the aging locally hand made bricks.
3. Minor repairs and the repainting of the five classrooms we have previously renovated (and now maintain annually) and of the School Library that the Fund built for the benefit of all pupils of the Nansambo Community, whether at primary or secondary school. This work was undertaken during the Summer holiday period.
4. The provision for the continued funding for four Assistant Teachers, including the designated Librarian.
5. The supply of two deliveries of educational supplies and sports items - one delivery was made during April and another delivery was made at the beginning of the new School Year in October.
6. We have continued to monitor stock and “topped up” the books in the Library, twice during the year. The Librarian carried out an annual book audit in July 2022 to assist us in being able make informed decisions on what additional books would be beneficial, and subject balanced, for the Library to have, moving forward.
7. The decision was made to increase the total number of sponsored pupils to a maximum of 30 pupils and eleven new pupils were sponsored by the Fund from the start of the 2022/3 academic school year.
Throughout 2022 we continued to be committed to improving the provision, accessibility and quality of education available to the children of the Nansambo Community, whether of primary or of secondary school age. We have continued to encourage these children to attend primary school. We continued to encourage them to continue in full time education beyond primary school.
The Nansambo Schools Fund, and its supporters, believe that the only effective way for the children of the Nansambo Community to access better employment and training opportunities - in order to equip them to build a better life for themselves - will be through being able to access and benefit from receiving a good basic education. All of the support and of the work that the Nansambo Schools Fund has carried out during 2022, has been for the benefit of the pupils of the Nansambo Community and its children who attend the Nansambo Primary and Balamanja Secondary Schools, as it will continue to be into 2023 and beyond.
## **FINANCIAL REVIEW**
## **Reserves policy**
It is the trustees’ policy to maintain enough reserves to produce income in order to meet any commitments that they have made and in order to support appropriate causes when they come to the attention of the trustees. The trustees will keep this policy under review
## **Results for the year**
During the year unrestricted income of £7,133 (2022: £9,598) was received. Charitable expenditure of £13,391 (2022: £10,518) was made during the year. At 1 January 2023 unrestricted funds of £48,781 (2022: £55,039) were held across all UK and Malawi bank accounts. As a strategic decision, more money has been placed in a Fixed Deposit Account in Malawi in order to generate long term income to pay for future schooling fees for sponsored children.
Having regard to the above the trustees believe that the financial position of the charity is satisfactory and that the trust will have sufficient reserves to meet its obligations in the future.
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**The Nansambo Schools Fund**
## **Trustees’ Report for the**
## **Year Ended 01 January 2023**
Calculations use foreign exchange rate GBP-Kwacha of 1:1,244
## **FUTURE PLANS**
It is the trustee’s present intention to continue to distribute the income received by the charity, having regard to the same principals as they have applied during the year under review.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing Document**
The charity is governed by a board of Trustees and Constitution (submitted to the Charity Commission as part of registration) and constitutes an charitable incorporated organisation.
## **Responsibilities of trustees**
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’ Statement of Recommended Practice (SORP);
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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 Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER**
Each of the persons who is a Trustee at the time when this Trustees' report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant information of which the charitable company's independent examiner is unaware; and
- the Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any information needed by the charitable company's independent examiner in connection with preparing their report and to establish that the charitable company's independent examiner are aware of that information.
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**The Nansambo Schools Fund**
**Trustees’ Report for the Year Ended 01 January 2023**
## **SMALL COMPANY PROVISIONS**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the Trustees on 24 February 2023 and signed on their behalf by:
JOHN TOBIN
................................................
## **John Tobin - Trustee**
**The Nansambo Schools Fund**
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**The Nansambo Schools Fund**
## **Report of the Independent Examiner to the Trustees of The Nansambo Schools Fund**
## **Independent examiner’s report to the trustees of The Nansambo Schools Fund**
I report to the charity trustees on my examination of the accounts of The Nansambo Schools Fund (the Charity) for the year ended 01 January 2023.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act').
In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. that accounting records were not kept as required by section 130 of the Act; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of the Act; or
4. that there is further information needed for a proper understanding of the accounts.
## **Independent examiner's statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
## SAMUEL TROY
……………………………………..
Samuel Troy FCA
Connected Accounting Limited
Date: 24 February 2023
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**The Nansambo Schools Fund**
## **Statement of Financials Activities for the**
## **Year Ended 01 January 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donation and legacies
2
Investment income
3
**Total**
**EXPENDITURE ON**
Charitable Activities
4
**NET SURPLUS / (DEFICIT)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Restricted
funds
£
-
-
-
-
-|Unrestricted
funds
£
6,417
716
7,133
13,391
(6,258)|01.01.23
Total
funds
£
6,417
716
7,133
13,391
(6,258)
55,039
48,781|01.01.22
Total
funds
£
7,434
2,335
9,769
10,688
(919)
55,958
55,039|
|---|---|---|---|---|
The notes form part of these financial statements
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**The Nansambo Schools Fund**
## **Balance Sheet for the**
## **Year Ended 01 January 2023**
|Notes
**CURRENT ASSETS**
Cash at Bank
Accrued Income
**CREDITORS**
Amount falling due within one year
5
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted Funds
7
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
-|Unrestricted
funds
£
49,988
193
50,181
(1,400)|01.01.23
Total funds
£
49,988
193
50,181
(1,400)
48,781
48,781
48,781
48,781
48,781|01.01.22
Total funds
£
53,661
2,078
55,739
(700)
55,958
55,958
55,958
55,958
55,958|
|---|---|---|---|---|
These financial statements have been prepared in accordance with the provisions applicable to the small companies’ regime. The financial statements were approved by the Board of Trustees on 24 February 2023 and were signed on its behalf by:
.............................................
## **John Tobin - Trustee**
## **The Nansambo Schools Fund**
The notes form part of these financial statements.
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**The Nansambo Schools Fund**
## **Notes to the Financial Statements for the**
## **Year Ended 01 January 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.
## **2. DONATIONS AND LEGACIES**
01.01.23 01.01.22 £ £ Donations 6,417 7,434
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**The Nansambo Schools Fund**
## **Notes to the Financial Statements for the**
## **Year Ended 01 January 2023**
## **3. INVESTMENT INCOME**
|**3. INVESTMENT INCOME**|||
|---|---|---|
||01.01.23|01.01.22|
||£|£|
|Deposit account interest|193|2,335|
|**4. CHARITABLE ACTIVITIES**|||
||01.01.23|01.01.22|
||£|£|
|Charitable Activities|13,391|10,688|
||01.01.23|01.01.22|
|School Building (Rebuilding / Annual Maintenance / New Borehole)|1,624|-|
|School Furniture|-|-|
|Repairs and Maintenance|1,973|1,871|
|Borehole Service|699|236|
|Assistant Teacher / Librarian|1,242|779|
|Library books and other school and sports supplies|1,253|641|
|Stationery Supplies|36|24|
|PPE / Medical Supplies|-|352|
|Sponsored Pupils School and Examination Fees|3,506|1,171|
|Agent’s travel expenses|193|215|
|Bank Charges|80|99|
|Accountancy|700|700|
|Foreign Exchange|2,085|4,398|
|Rounding|-|-|
|Wheelchair and Crutches purchases|-|176|
|Sundry Expenses|-|26|
|**5. CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR**|||
||01.01.23|01.01.22|
||£|£|
|Accrued Expenses|700|1,500|
## **6. TRUSTEES’ REUMUNERATION AND BENEFITS**
There were no trustees’ remuneration or other benefits for the year ended 01 January 2023
## **Trustees’ expenses**
There were no trustees’ expenses paid for the year ended 01 January 2023
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**The Nansambo Schools Fund**
## **Notes to the Financial Statements for the**
**Year Ended 01 January 2023**
## **7. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparative prior year fund table**
**Unrestricted funds**
General fund
**Restricted funds**
Wheelchair fund
**TOTAL FUNDS**||At 01.01.22
Net
movement in
funds
At 01.01.23
£
£
£
55,039
(6,258)
48,781
55,039
(6,258)
48,781
Incoming
resources
Resources
expended
Movement in
funds
£
£
£
7,133
(13,391)
(6,258)
7,133
(13,391)
(6,258)
At 01.01.21
Net
movement in
funds
At 01.01.2 2
£
£
£
55,958
(919)
55,039
-
-
-
55,958
(919)
55,039|
|---|---|---|
||||
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**The Nansambo Schools Fund**
## **Notes to the Financial Statements for the**
## **Year Ended 01 January 2023**
Net movement in funds, included in the above are as follows
|**Unrestricted funds**
General fund
**Restricted funds**
Wheelchair fund
**TOTAL FUNDS**|Incoming
resources
£
9,599
170
9,769|Resources
expended
Movement in
funds
£
£
(10,518)
(919)
(170)
-
(10,688)
(919)|
|---|---|---|
## **The Wheelchair Fund**
The Wheelchair fund was a donation made specifically to facilitate the purchase and provision of a wheelchair in Malawi.
## **8. RELATED PART DISCLOSURES**
There were no related transactions for the year ended 01 January 2023.
## **9. GUARANTEES AND DEBT**
The trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at year ended 01 January 2023, the charity did not have any outstanding guarantees to third parties nor any debts secured on assets of the charity.
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