2023-12-31-accounts - Medewell International

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Medewell International

Charity No. 1188078

Trustees' Report and Unaudited Accounts

31 December 2023

Medewell International Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Accounts	7 to 10
Detailed Statement of Financial Activities	11

Page 1

Medewell International Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1188078

Principal Office

Suite G1

Hartsbourne House Delta Gain Watford WD19 5EF

Trustees

The following trustees served during the year:

S. Manji

A. Sultan S. Tejani

Accountants

AMA Accounting Limited 90 Princes Avenue

Watford WD18 7RS

OBJECTIVES AND ACTIVITIES

The objectives of MEDEWELL INTERNATIONAL (the Charity), is to raise funds from donors and support projects for the prevention and relied of poverty in East Africa and in particular Tanzania.

The charity’s aim also includes but not limited to offering financial support to orphanage, hospital and support construction of water wells in Tanzania.

All the above is aimed at improving the quality of life for the disadvantaged and facilitating better basic requirements such as provision of education, clean water and medical facilities.

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

ACHIEVEMENTS AND PERFORMANCE

The financial statements have been prepared for twelve months period to 31 December 2023.

During the year under review, the charity collected over £240k (2022: £237k) in donations from various donors with the highest single donation of £45k (2022: £30k) from registered UK company.

The trustees produce monthly internal reports which show in detail all donations received.

The trustees are grateful to all the donors for their outstanding support to the charity and we hope that this support continues for the foreseeable future.

The trustees are pleased to note that all donations received have been spent without any administration fees or any cost to reduce the amount received from donors.

Staff Costs

Page 2

Medewell International

Trustees Annual Report

The charity has no staff apart from the trustees who are not remunerated. The trustees have no plan to employ any staff in the foreseeable future and do not wish to draw any remuneration from the charity.

Trustees expenses

There were no trustee expenses during the period under review.

FINANCIAL REVIEW

During the year the charity received unrestricted income of £240,066 (2022: £236,931) and had unrestricted expenditure of £243,846 (2022: £239,237) and restricted expenditure of £Nil (2022: £27,763). At the balance sheet sate the charity held unrestricted funds of £29,753 (2022: £33,533).

PLANS FOR FUTURE PERIODS

The charity is the process of developing smart phone applications for donors to make donations via their mobile devices. The development of the system has taken longer than anticipated, however, the trustees are confident that this should be completed in early 2025.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity was registered with the Charity Commission on 20 February 2020 and prepared its first set of financial statements to 31 December 2020. Third is the fourth year of activities and the accounts have been prepared to 31 December 2023.

The charity has a simple structure where the three trustees oversee all aspects of the charity. Of the three trustees, two are qualified accountants who carry out the administrative tasks of the charity including producing monthly reports for review by all the trustees.

The trustees have a policy of issuing receipts to all donors when donations are received.

Requests for donations are reviewed by the trustees before being authorised for payment.

The trustees have taken into account the Charity Commission’s public benefit guidance in the decision making and operating of MEDEWELL INTERNATIONAL. No significant departure from the guidance has been noted or observed.

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

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

A. Sultan Trustee 22 October 2024

Page 3

Medewell International Independent Examiners Report

Independent Examiner's Report to the trustees of Medewell International

I report to the trustees on my examination of the financial statements of Medewell International for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.

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.

Ali M Ali MAAT AMA Accounting Limited 90 Princes Avenue Watford WD18 7RS 22 October 2024

Page 4

Medewell International Statement of Financial Activities

for the year ended 31 December 2023

Unrestricted funds	Total funds	Total funds
2023	2023	2022
£	£	£

240,066	240,066	236,931
240,066	240,066	236,931

243,846	243,846	267,000
243,846	243,846	267,000
-	-	-
(3,780)	(3,780)	(30,069)
-	-	-
(3,780)	(3,780)	(30,069)

(3,780)	(3,780)	(30,069)

33,533	33,533	63,602
29,753	29,753	33,533

Page 5

Medewell International Balance Sheet

at 31 December 2023

Charity No. 1188078 Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 7 Unrestricted funds 7 General funds Reserves 7 Total funds Approved by the trustees on 22 October 2024 And signed on their behalf by: A. Sultan Trustee 22 October 2024	2023 £ 29,753 29,753 29,753 29,753 29,753 29,753 29,753 29,753 29,753	2022 £ 33,533
		33,533
		33,533 33,533
		33,533
		33,533
		33,533
		33,533
		33,533

Page 6

Medewell International Notes to the Accounts

for the year ended 31 December 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Medewell International Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 8

Medewell International

Notes to the Accounts

2 Statement of Financial Activities - prior year

Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations and gifts 4 Expenditure on charitable activities Expenditure on charitable activities Unrestricted donations to institutions Restricted donations to institutions	Unrestricted funds 2022 £ 236,931 236,931 239,237 239,237 (2,306) (2,306) (2,306) 35,839 33,533 Unrestricted £ 240,066 240,066 Unrestricted £ 243,846 - 243,846	Restricted funds 2022 £ - - 27,763 27,763 (27,763) (27,763) (27,763) 27,763 - Total 2023 £ 240,066 240,066 Total 2023 £ 243,846 - 243,846	Total funds 2022 £ 236,931
			236,931 267,000
			267,000
			(30,069)
			(30,069)
			(30,069) 63,602
			33,533
			Total 2022 £ 236,931
			236,931
			Total 2022 £ 239,237 27,763
			267,000

5 Trustees remuneration and expenses

None of the trustees (or any persons connected with them) received any remuneration during the year and there were no reimbursed expenses either during the year.

Page 9

Medewell International Notes to the Accounts

6 Staff costs

The charity did not employ any staff.

7 Movement in funds

Incoming resources (including other gains/losses) £ 240,066 240,066 At 1 January 2023 £	Resources expended £ (243,846) (243,846) Unrestricted funds £ 29,753 29,753 Cash flows £	At 31 December 2023 £ 29,753
		29,753
		Total £ 29,753
		29,753
		At 31 December 2023 £
33,533	(3,780)	29,753
33,533 33,533	(3,780) (3,780)	29,753
		29,753

Page 10

Medewell International Detailed Statement of Financial Activities

for the year ended 31 December 2023

Income and endowments from: Donations and legacies Donations and gifts Total income and endowments Expenditure on: Charitable activities Unrestricted donations to institutions Restricted donations to institutions Total of expenditure on charitable activities Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted funds 2023 £ 240,066 240,066 240,066 243,846 - 243,846 243,846 243,846 - (3,780) (3,780) - (3,780) 33,533 29,753	Total funds 2023 £ 240,066 240,066 240,066 243,846 - 243,846 243,846 243,846 - (3,780) (3,780) - (3,780) 33,533 29,753	Total funds 2022 £ 236,931
			236,931
			236,931 239,237 27,763
			267,000
			267,000 267,000 -
			(30,069)
			(30,069) -
			(30,069)
			63,602
			33,533

Page 11