THE NENO MACADAMIA.TRUST REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Charity Number: 1184698
THE NENO MACADAMIA TRUST REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 CONTENT8 Page Report of the Trusle8S 3105 Independenl Exanilners Report Income and Expendllure Account Balance Sheet Notes to the Accounts 91010 Page 2oflO
THE NENO MACBDAMIA TRUST REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 DECEMBER 2023 .The.TYustee9 present thelr annuBI report for the perlod ended 31 Decembtsr 2023. OBJECTS The ob5ecls ol Ihe TrLk81 are the alevlalion of PDverty and the Improvement of the condili¢ns ol Ilfe In 8o¢lalty 'and eoonotnl¢ally disadvantaged communltles, in parU¢ular Neno and Iho adja¢ent distric18 In Malawl, Afrlca, as th'e tiuslee$ n)ay from to tlm6 dlrect. . PRINCIPAL ACT:IIiITIES The.IncIpal.8mlle6 conlhued lo be: Suppoitlng Qooperallves. smallholder nurseTie5, Infrastniclurè and tralnlnu fodliti@g, Includlng: Ègtsbllshlng nurseiles, Ire& p18nllng and tree surveys - the NESMACSLwarelM)use and nursery the Neno Vocational Trainlng Cenlie coopeTative warehouse and Indivldual smaltholder dnll racks Fadlitating lo resources for Ihe smaltholder macadamia Industry In Malawl through HIMACUL, Including.. falrlrade certificallon and 8ecurlng trade finan blrylng Jnacadafflla from faimeFS (nut In shelll - sorfngi gradlng and Iran8POrt to macadarrila lactory falrtrade sales In Europe Ihrough Llberatlon Foods Developlng e¢onoml¢, soclal and enronmental actiwlles dellvered by HIMACUL for smallholder acadamia larmer8, Inc19.. . agrofore8tsy systems environmonl prolecllon, soll and waler conseN8tlon buslness plannlng for rural enlerpiises cooperallve tralnlng, ernployment and ¢ommunlty davelopment Focused on the serrfices provlded by HIMACUL to smallholdei8, Including: - elderty farmers growing macadamla a8 a retirement and Inheritance crop Iralning and nulrltion for ehlldren and young peoplè rural enèrgy and waste management environmental setvice paymenl systsms ORGAN18ATION ,T.hè prlndp&l office L8 42 Harpur Street, Bedford, MK40 2QT. ..OFFIGERS & ¢OUNCIL MEMBERS , Th8 offloers and counoll member8 who served durlng Ihe year wera: Chalrman Mr Andrew Emmott Seorelary Mi St8v&n Goodman Treasurèr Mr RlchaTd Llndley Tru8tèes Mr T101hY Emmott Mr Davld Ascoti Mr John 48cott Page3of10
THE NENO MACADAMIA TRUST REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 DECEMBER 2023 CHAIRMAN'S ANNUAL REPORT FOR 2023 Charfloble oblect¥'. The allevlallon of povety and the Improvement of the condltlons ol lile In socially and economicalty (Jfsadvanlaged communKles. Ir) pailS¢ular Neno and Ihe adjacent districts in mala a8 the trustee8 may from lime lo tlmè dkeol, Reflectlons on the pa5tyear Malawl The long-term Impa¢t of muluple global criseg comblned wilh Increa61ngly regular floodg and droughts continue to ¢reate 8lgnlfat challenges for Malawlan farmers and the widèr economy. Hlgh levels of fertllizer and food prlce Inflallon weTe exaGerbated by further thsrupuon lo global Supply chalns wth shlpplng lanes In tho Red Sea Impacting Imports and export8 to and from Malaw. In splte of the economlc challenges laclng the macadamia Industry. the crop ts 8&en to b& of SIgriCant Importan¢0 for mala,8 transltion away from rellanoe on tobacco. Thls Is refie¢l¢d by a number of new Inilalfve8 In tho donor community suoh a$ the FCDO Malawi Value Chaln Prolecl whlch 5$ Io¢uBed on SUPPDrting medlum sized ma¢adamlH and mango farme to enter èxport value ¢halns. NMT1s WOTklng closely wSth HIMACUL lo eKplore option8 10 8UPPOrt More smallholdei f8rmer$ b&coMe Mèmbels and receive 9erylces 8uch as CDMC tree carbon payments. Macadamla conflnues to provlde farmers wlh ftsod and Income seourlty that annual crops don't prode durlng the hunger months In Malawl. Dls¢usslons vfilh macadamla farmers tell us Ihat not only18 Ihe crop belng sold into the export markets bui It has beGoffle an Integral patl of Ihg diBt of tho farmlng famllies Ihet grow the ¢rop. ThLs highly nulrlUou8 food Is supplementin9 0 malze ba8ed diel wlth tho potential for significant Impaels that need mor6 detallad analy$ls. NMT A¢tivltle$ 2023 In 2023, NMT made tt5 61h annual Caibon Damage Mlttgallon Ceitifio&le (CDMC> payments to HIMACUL and Ihe farmers from Its 2022 macadamia tree Burvey and started Et$ 71h (20231 survey. NMT had a suocesBful year engaging with Indlviduals and partner organlsauons who have commthd to U8e NMTS CDMC'S lo Millgate their carbon footprintth NMT'8 Carbon calculator for alr travel, dom8sllc. v&hld& or general C02 emlsslons: http.'Ilnenom8cadamlatmst.co.uklNMTCarbonCal¢t¢lator.hlml . NMT'S parlnershlp with Profs Who Fly led to OUT firstyear of CDMC purchases1h Imperlal Collègè London 8uslness School. During the yegr we also secured support from Ihe Candrlam Inslilulè whleh wts hope wll lead to a long-leTm partnershl) whi¢h In part wll support NMT'S appll¢alion to Plan Vivo. NMT Is pleased to report that Emmanuel Zuza, the Open Unlverskty GDRF PhD sludent su¢¢essfully defended hls PhD Ihesis whlch sludled the Impact of different agroecological zones on ffve ma¢adamla cullwots grown by smallholder farmers. NMT'S partnershlp conlnued Trmlh the Open UnerSIty course SDT306 Envlronmenl.. Responthng to Change (hltp'.Ilvhw.open.ac.ukJcourseslmodule818d1306). And. the OU Post Graduate Offl¢e's proJe¢t wlth Marslon Vele Communlty Forest to plant trees In the UK and Malawi In re¢ognlUon of graduating PhD students (htlp8JlvwM.open.a¢.ukJresearchln8wslou-¢elebrale8-POgtgraduale-regoarch-sb]dents-planttng4fees). The ongolng Support from IndMdual$ and from partnèr organlsattons continues to be gralgfuty recelved and we are encouraged by an increase In tho rbumber of rogular donatiorbs. Desplle the uncertalntles of tha past ye8r, NMT'S finances including CDMC paymerbts have remalned sere. NMT looks foThvard lo worklng wlth HIMACUL and our partners to be even more focused on how farmers In Malawl can become re8lllent to dlmat8 shooks. Poge4of 10
THE NENO MACADAMIA TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 TRANSACTIONS AND FINANCIAL POSITION The Income and Expeiidllure Accounl shows & nel surplus for the year of £677 (2022 £1,299). Tho Balanc Sheet shows total funds of £5,806. The cash at bank shows a balance of £5,80fj. RESERVES AND RISK MANAGEMENT The present level of fundlng l*'.¢onsldered adequate lo support the conlinulng opgrallons, and the Trustees consld8rth6 fln8nclal posltion to bg sAllsfaclory with £4,006 01 unreslrfcled r8s8rves. The Tnislees 8ollvgly revlew as part of Ihelr regular board meellngs all potènllal areas of risk faced. ProGedures are In ce to Idenllfy and fftllloEtle risks arlslng from adverse condlllons. Page S of 10
Independent examlnerfs reportto the Trustees of The Macadamla Trust I report on the aceounts of the Trust for the perlod ended 31 December 2023, whlch are set OLFt on pages 7 to io, Respective re$ponslbllltles of the Trustees and the exgmlner The Trustees are responslble forthe prep4ratlon of the accounts. The Trustees conslder that an Independent examlnation is needed. It Is my responslbllltyto: examine the accounts. to state whether partlcular matters have come to my attention. Basls of Independent Èxamlnerfs report An examination It)cludes a revlew of the accountlng records kept by the assoclatlon and a comparlson of the accounts presented wlth those records. It a150 includes conslderation of any unusual Items or dls¢losures In the accounts, and seeklng explanatlons from you as commlttee members COnrnIng any su¢h matters, The procedures undertaken do not provlde all the evldence that would be requlred In an audlt and consequently no opinion Is glven as to whether the accounts piesent a'true and fair vlew. and the report is limited to those matters set out In the statement below. Independent examlnerfs statement In connection wlth my examlnatlon, no matter ha5 come to my attentlon: 111 whlch glves me reasonable cause to belleve that In any materlal respectthe requlrements: to keep accountlng record,. and to prepare accounts whleh ae¢ord wlth the accountlng records and Comply wlth the accuuntlng requlrements have not been met; or 121 to whlch, In my oplnion. attentlon should be drawn In order to enable a proper understandlng of the accounts to be reached. Colln Rawllng 65 Water Lane, Wo Date- 1> , 8. on. Northampton, NN4 6HH Page6 of 10
THE NEt40 IIAGAOAMIA TRUST INGQME AND EXPENDITURE ACGQUNT FOR THE YEAR ENDED 31 OECEMBER2028 31 Dec4mbBr 2023 $1 Deeember 2022 NOT&S UTrré51rfcle Unre5tr1cte Restslcied Total Restrtcted Tot41 IN¢OMF CniUonslncludlw tsIAA 14,634 14, 13W5 13F CaiF4Jfi Damage MNIBoUon CoMco10S 5,017 5,017 6.240 6.24Q Rostricied d(all-{T pr¥lq¢t$ Nur8£5 Ptoled grlrbwè 81 948 TOTAL 1,000 19,718 20,718 7,Q4 13P99 20P¥¥ EXPENDITURE DthaUoRlo HIMACL 15,375 15,375 11.$50 11,SYJ Corbon D8ragg MglI)nc8rICat4s disbuTsgnnI 3,314 3M14 6,282 6,845 Bankchargèsand Fws 216 218 327 327 Ir80Nke• LInCeS 1.101 1.1C11 CtherExpensos 4S 44 44 TofAL 20.0ts1 2D,062 6,282 19,852 19.684 Surplu$lDeficltl lOr&r 00 333 768 84f 1,299 Pao9 70110
THg MFNO MACADAMIA TRUST BALANCE SHEET ASAT 31 DE¢EMPER 2023 A8 al 81 De¢ 2023 As at31 Dec 2022 NOTES CURREIIT ASSETS ank balance 5.139 5,806 139 ¢ftEOITORS: AMOUNTS FALLIKG DUEWITrtIN ONE YEA NET CURRENT ASSETSIILIABILITIESI 5.139 NET ASSETSI(LIABILITIESI 4139 Flnlnced by., RESERVES Genoral r66eN6 Rwtrf¢ted re$erve. Nur$eDg0 ProléGts Re8trl¢ted re¥eNe- IT Pr¢Je¢t BOnCe atend gfye8r 806 5.139 Andrew Emmo chalrfflgn Rl¢hard Llndl Trea8ixe Paoe 80110
THE NENO MACADAMIA TRUST NOTES TO AGCOUNTS FOR THEYEAR ENDED 31 DECEMBER 2023 I, Accoyntlng Pollcles cvunllng ¢onventlon Tha 8(wunls have been prepar8d underlh& hlsloric81 cost cenvèntlon. In¢omè Donauons are 8c¢ounled for on a recelpts ba81& In re8pèd o101hèr Incomè accounlls taken ol knovm aniount8 due but UIW'81d. Expenilllure Expenditure Is ac¢ounted for on a cash a¢couTrting bas(s 2nd has been class5fi8d under headlngs that 8ggr¢gats all cost re18ted te th& cateutrry.Whgre cannot bg direcuy attr[ted Io particular h6dings Ihey have been allocatsd lo a¢bib¢s Qn a baS con61stsn¢Yfith lh8 Use of r8sources. Taxatlon Tho charity18 8xempt from lax on tts charft8ble activSties Fund accountlng The charlty has bolh r&tslri¢ied and unrostrKled reserves. Restricted reseNes can onty be used forthe purpo80 kndsYier6 donoted for, %thile unrestrlclted funds bo usgd In a¢cordanc8 I4th th6 ehsritablo oblectmes ol tho trust al thu dTrsGretlon of th? twslees. 2. Tiustees, RemungTatlon and Bentflts The trustee's dld not receiva any r6m¢jnèrafjn or benefftsfor thelr role 881wstèe durfng the year endgd 31 December2023 nor forlhg y68r ended 31 December 2022. 3. Dgbtoi$ The only assots ofthg tnJ$l 8r8 bank acuunts. 4. Gredllor5 Thè trust doss hot have any¢uMent Ilabllitios12022 £Nill. P&g89of10
THE NENO MACAOAMIA TRUST NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 S, Movement offund8 A8 at 31 Movoment Dec 2022 In funds Asat31 Dec 2023 Re$¢ivos General reserve Reslri¢led re8eNe- Nur8eries Projects Reslilcled reseNe- IT Prole¢l 4.339 800 13331 4.Th)6 1,0 1,(M)O Totsl fundg S,139 667 Nel Movemant In lund4 Included In the above 8r6 a8 foll rranÈfer In¢omlng Re60urces befv¢een resour¢es expendeil reserves Movement in funds Reserves Gene4 r¢sewo Restricted resetve- Nur8erle8 Projects Reslricled resetve- IT Piolecl 19,718 120,051) 13331 1,000 1.000 Total lunds 20,718 120,0511 667 Page 100110