Company registration number.. CE028755 Chatity registration nwnber.. 1198935 The Malawi Scholarship Programme (MSP) A Charitable ITLCOfPDrated Organi5ation Annual Rcport and Financial Stat¢m¢nts for the Year Ended 5 April 2025 Just Audit & Assurance Ltd 37 Market SquAre iiney Oxfordshire OX28 6RE
The iMalaT+i SehDlarshlp Programme Contents Trte¢s, Report 1104 ststemtnt of TnL8tc, R&8ponsibilities llldependent ExamitieV5 Report Statement of Financial Aetiviti¢s Balance Sheet Notes to the Fiffiancial Statements 9t015
The Malawl Scholarshlp Progr2mn)e Trustees, Report The tNstees, who are dIreOr5 for the putV0$¢5 of compan> lall,, ptrsent the annual report tO8rther with the financial ststcments of the chatitsblc ¢ompatLy for the year ellded 5 April 2025. Objvtives and *etfi%qd Objeds 4nd4ims The chyn'ty's objrctive is to ¢han8e live5 through education for young people xn Mala, Africa. Wc suptA)n those who have the most potential but least opportunity, by delivering impa¢thl eAAucational scholarships. Holistic Stydent Support The charity's holarShip pro8rJmnx exten(b well beyond th¢ payment of school fees. Eacb srnd¢nt is provided with the ential resources and 8UPPOrt needed to succccd academically and personally. including.. School unifonn, sho&s. and bags" . Texitx)oks and statiollery; . Nutritious food during tern time,. Safe aLcommodation close to the sch(rt)l. where required. and • Academic Lu(oring and support duting scbool holidays. In r¢¢ognition of the additional barriers faced by girls in accessing artd r¢maining in education. female student5 are also provided with sanitary produ¢ts, alongside a¢¢¢ss to sexual heAlth education and appropriare pastoral support. Through th7B comprehen5ivc approach. th¢ charity ainLq not only lo imprnve atIonal attaiT]mcnt but also to support students. Mtllbeing, dignity. and long-terni prospeets. Page I
The MalaThi S¢holarshlp Programme Trustees, Report Objertives, strotegirt rtftdqclivilies During the reporting period. the charity fvttded the education of 29 students, comprising I I girls pnd 18 boys. The rnajoriry of studentg re 5UPPOrted at secondary school level, with four stud¢n¢& receiving fiu)ding to attend univcr5ity. We also estsbli5heii our first fomjal partnership with Rugby for Education, supportillg five stud¢nty participating in its prograrume. This partnership u5¢S Sport as a tool to build collfldence, t¢amworK and di5¢ipline. helping boys and girls d¢v¢lop physical fiutess and resilience while remaining engaged ia positive, siructured activiii¢$ outside school hour5. AII 5Ludents supported by th¢ charity come from families liiing in extreme povcrty and would not be abl¢ lo afford secondary or hish¢r Ucation without externa] sUprt. Grant-fund¢d scholarships Nine of the scholarships ar¢ fided thri)ugh a grant received from the Network for Social Ch8llEe. Thi5 grallt proiide5 fundinE for ninc 5tudeuls tu complete a full fow-year secondary School educ&tion, ensuring continuRty of 5UPPOrt throughout th¢ entAre sewndary cycle. Fundraising activrties In Ftbruary 2025. the charity held a suc¢essful fimdraislng ¢v¢nt in central tA)ndon, which raised just over £19,000. The fijnds raised ar¢ supportin8 19 sttmlents and will provide funding over a four-year period. cnabling each sttent io complete therr fiL]I secondary ¢ducation without int¢ptiOll or uncertainty about ongoirtg fers. Major donats'on and fijture invtstsnent Towards th¢ end of 2024. the charity received a 8lsnifit donatiOD of £IOO,(MJO. Th¢s¢ fimds will be invested during the 2025-2026 academic year and will b¢ used to: Increase the nutx) of Sdents support¢d through the scholarship progYanun¢ Invest in high quality ¢ducatioM at both pre-school and secondari leie15 • Strengthen organisational capacity thr()ugh expansion of the Ial team. Pmblic bentf Th¢ object of the CIO is. for the public betL¢fit. to advance the ¢ducation of young people in the Mbabzi area of Malawi, Africa. in sueh Wdys as the charity trustees think fit, including by.. al Awarding to such persons scholarsbips tenllble at any wiiv¢rsity, College or insti¢Utiotk of higher or fith ¢du¢ation b) Improving the school facilities and infrasmieturt The tnLSte¢$ ¢onfirni that they have compli¢d with thc requiremcnts of section 17 of the Ch8ritlES Act 2011 to have due regard to the publio b¢n¢fi¢ guidaCe published by the Chariry Commission for England and Wales. P4ge 2
The Malawl Seholarship Programme Trustees, Report Reference and Adminls¢ratSve Dd#ll$ Charity Rcgistrdtion Number: 1198935 Comp&Dy R¢gistration Number: CE028755 The charity is incorwjrated in England and Wthle alden Cottkge Bull Lane Chalfoni St. Peler Bu¢kingh&mshire SL9 8RY Regisi¢r¢d orrice.. Independent Examiner: Just Audit & A55ufdnce Ltd 37 Matkct Squar¢ Withey Oxfordshire OX28 6RE Trnstses #fjd Officers The ttuse5 and offLc¢rs setving during the year and stnc¢ th¢ yw end were &8 follows.. Ttustres.. Alexandra Clair¢ Knapp, Chatr Suzantja Bam>n-Black David Barron Structurey governance #nd mgnxgejneut ofgoverning documeNI The charity is governcd by a Board of three Trust¢¢s, all of whom continued to setve during the reporting period. David Barroll and SZAnna Barnn-Black were re.appointed fDI & one.year tern4 aud Alexandra ¢¢)ntinued ia office in accord8nee the clwity's 8overnin8 docum¢nt. The ¢harity continued to be gov¢rned in accordance with its Constitution. The TNstees illt¢nd to sttengthett and broaden the Board over the coming year and will actively 8¢¢k to appoint additional TnJses with skills and experience that support thc charity's strate8ic objectives. RtcrHilwAe#i and appointhieAi L7lfrwLWte¢s Ap2rt from the ftrst charity tsvstees, every tswtee must be appointed for a terni of years by resolution p&ssed at a properly convened meeting of the cbarity tn]stees. In selecting individuals for appointmeni a5 charity trusÈ¢¢s, the Lharity tru5te¢s must h&ie r¢g8rd to thc skills. knowledgc and perIence need&J for the effective administration of the CIO. Pag¢ 3
The MalaiTri Scholarshlp Programme Trustee5' Report Induclion trlllning oftr¥5tees The charity Intsiees will make available io cach new charity Irustce. on or before his or ber first appoinimenL' (a) Y4 copy of the cunent i'ersion of this consiiDJtion,' and Ib) a copy of the C]O's latest Trnstees. Annual Report and 5tat¢m¢nt of accounts FluaDd*l ID5trutDents Objeclives ondpolicles The charity's aciiviiie5 expose it to a numbcr of flnancial ri5k5 including credit risk, casb flow risk and liquidity risk. The use of financial derivatives is govcrncd by the charity's policies approved by (he board of tntstees, which provide Tlttcn principles on the of financial deriyativcs to tllanage these risks. The charity does not e derivative financial instnunents for speculative pu4se3. C4thflow risk The charity's a¢tiiities expose it primwily to the fmaDcial risks of changes in foreign currcncy exchange r8t¢s and interest rat¢s. The chariry use5 foreigry exchange forward contracts and interest rate swap contracts to hedg¢ these exposures. Intertgt bearing a55ets and liabilities are held ai fixed rate Lo ensure certainty of cash flows. Credil Fisk The charity's principal financial asset% are bank balances and cash, trade and other receivable5, and investments. The ctjarity's ¢redii risk is prillwily attributable to its trdd¢ receivables. The amounts prcsenied in ihe balance Sheet aTe llet of allowances for doublful receivables. An allowance for in]paimient is rnadc where there i5 an identified Ios5 event whi¢lK based oll prnryous experience, 18 evid¢Dc¢ of a reduetiort in the r¢cov¢Tabilit)' of the cash flows. The crcdit risk on liquid fiJnd5 and derivative fmancial inslnllnents is limitrd becaSe the counterparties are b&nks high credit-ratin8s assigned by international ¢r¢dit-r41ing agenei¢s. The charrry h&8 no signiflcant conc¢ntration of creth't ri5L exposure 5pr¢ad over a large ttumber of counterparties and eustomers. Liqmidity rlsk In order to n]ntain liquldity to ensure that suffieient funds are availablc for ongoing operations and fvtUT¢ dc1.elopw¢n the charity uses a u)ixtswe of long-tenn and 5hort-tern) debt fiTWhCe. Further details r¢gording liquidity risk c8n be foulld in the Statement of accounting policie5 in the financial Stat¢m¢nts. SMAII companles Pro51•n statement This report has been prepared in a¢cordan¢e with the small companies regime under th¢ Companies Act 2006. The annual rqjort W&5 approved by the trustees of the cl)#rity on 16 December 2025 and signed on its bthglf by.. AlexaDdra Ciaitt Knapp T[lee Page 4
The NIalaiwl Scholydrship Programme Statem¢Dt of Trustees, Responsibilltles The tnJst¢es (who are also th¢ directors of Th¢ Nfalawi Scholarship PTogramtn¢ for the putposes of ¢omwdn>' lawl are responsible f(Trr preporing the trustees, report and th¢ financi statements in accordaT]ce with applicable law and United Kin8dnm Accountin8 Standard5 (United Kingdom Generally Awted Accounting Practice), including FRS 102 'Th¢ Financial Reporting Standard app]ible in the UK and Republic of Ireland. The report and accounts havc been prepar¢d in accordance with the provisions in the Companies Act 2006 relating to small comwies. Company law r¢quires the trustees to prepare flljanciai stsiements foT each financial ycar. iioder compgny l&w the trustees must oot approve the financial statertLents unless they are satisfied that they give a trne and fair vie of the state of affairs of the charitsble ¢ompany and of thc in¢omin8 resourc¢5 and application of resourcr5, including its incom¢ and expendiDJre, of th¢ chwitabl¢ ¢ompany for that p¢riod. In preparing thcs¢ financial statcrnents. (he trustees are required io.. select Suitable accounling policies and apply them wnsiStEDtIy.' obsce the m¢thods and priticipl in the Charitie$ SORP: mak¢ jud8eTnents and estimates tha¢ aT¢ r¢asonable alld pThdenL state wheth¢r applicable accounting standard4 comprisin8 FRS 102 have been folloM"¢d. subject to any nterial d¢partures disclosed &nd explained in the finan¢ial slatemeDts' and pr¢pare the financial stat¢ments on the going concem bssis unl4 it is inappropriatc to presume that the charitable company will ¢ontinue in business. The ttee% ar¢ Tespon.4ible for keeping proprr accountillg records thai can dis¢lose with reasonablc aCraCY at any time the financial ¢K>Sition of the charitable company and enable ihern to ensure that the financial siatemet]ts comply with the Companies Act 2006. They dre also reswnsible fol safeguarding the assets of thc chgritable company and hence for taking re&gonable steps for the prev¢Dtion and detection of fraud and other I¢glarltieS. The tnJste¢s are tesponsible for the nwinteDan¢e and ititegrity of the corporate and financial illfonnation included on the charitabl¢ companjls website. Legislation gov¢ming the prcparation and dissemillaiion of financiai statements mas. diff¢r from legislation ill other jurisdictions. Approved by the trnstees of thc charity on 16 December 2025 amd signed on its behalf by.. Al¢Kandrn Claire Knapp Trust¢¢ Page 5
The MalaThl Scholarship Programme Independent Examiner's Report to the trustees of The MalAwl Scholarshlp Programme ('the Company,) I report to the charitv trte&S on my examination of the accounts of the Compan}. for the year ended 5 Aptil 2025. Re5P01151billde5 and basls ofreport As th¢ charity's tsvstees of the Company (and also its directors for the purpo of ¢ompany law) jou ar¢ r¢snsible foT the prepatation of the accounts in accordance with the requiternents of the Companies Act 2006 {'the 2006 Act,). Havin8 satisfied my5¢1f that the accoun (Trf th¢ Company are not r¢quir¢d ro be audited Lmder Part 16 of (he 2006 Act at]d are eligiblc for independent examination, I rcport in respect of my examinaiion of your chaiity, accounts 85 carried out under section 145 of the Charities Act 2011 ('the 2011 Acl.). In Carrying out my examin10 I have followcd the Directions giv¢n by the Charity Commission UDder section 145(5)Ib) of the 2011 Act. IndependeDt exaDilner'5 5tatem¢nt I have completed rny examination. I confitTu th4t no matters have conke to my attention in connection with the examinatiott giving m¢ ¢aus¢ to believe.. l. accounting records were not k¢pt in Tespect of The Malawi Scbolarship prO&mme as requir¢d by se¢iion 386 of the 2006 Act. or 2. the accDunts do nol accord those reoords.. or 3. th¢ accounis do nol cumpl) Thith the a¢countin8 r¢quir¢ments of section 396 of the 2006 Act other than an}. requirement that the aLcounts gil'e a 'ttue and fair vi¢w' which is not a matter collsid¢red as part of an independent ¢xamination; OI 4. the accounts hav¢ not been prepared ID acconlall¢¢ with the methods and prin¢iples of the Stat¢m¢nt ol R¢commended Practice for 2QUntIng and reporting by charitics lapplicable to chariucs pr¢paring their a¢count5 in accordanec with the Financial Reporting Standard applicable in the UK and R¢public of Ir¢land IFRS 102)]. I have no concerns and have come a¢rn$s olher matters in eonne¢tion wryth the examination to which attention should be dra in this report in order fv ble aproper understhllding of the accounts to be reached. tFCA ICAEW 37 Market Square Witney Oxfordshire OX28 ORE 17 De¢cmbcr 2025 P8ge 6
The Malawi Scholarshlp Programme Statement of Financial Actliutie5 lor the Year Ended 5 Aprll 2025 nduding Jncome and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricled funds Total 2025 rot¢ Ineorne EndowThents frorn: Donations and le¥acie5 Other trading activitic 121,999 19.803 121,999 19,803 Total income 141,802 141.802 Expendttsre on: Raising llds Charitable activiti¢8 2,611 7,481 2.611 7.481 Totsl expenditure Ner incojne 10,092 10,092 131.710 131.710 Net movement in fimds 131.710 131.710 Reconelllation of funds Total fidS brought forwTrd Ti)tal funds carried fotward 11,469 11,469 13 143,179 Unrestricted funds 143,179 Total 2024 Note Income and Endowments from: Donation5 and le8acie5 Othcr trading activities Totsl income 5,285 5,150 5,285 5,150 10.435 10,435 ExpendIre on: Cbaritable activities 1.842 1.¥42 Total expcnditur¢ 1,842 1,842 Net income 8.593 Net movement in funds 8.593 8.593 Reconcllidtstt Of funds Totsl funds brought forward Totsl fuDds carried fonward 2,876 2,876 13 11.469 11.469 All of the charity's actii'ities derive from continuing operations durin8 thc above two p¢ri(th. The )Imd5 breakdown for 2024 is shown in note 13. The llotes on pages 9 to 15 forni an integral part of these finat)cial ststements. Page 7
The Malawl Scholarship Programme (Registration number.. CE028755) Balance Sheet as at 5 April 2025 2025 2024 Current 835etS Debtor5 Cash at bank and tn hand 3.200 141,480 11.469 144,680 11.469 Creditors: Amounts falling due IvKthin one y¢4r el a55et8 12 1,501 143,179 Funds of the charity: Unrestricted llleome fDllds Unrestricted funds 143.179 11.469 Total fuDd$ 13 143.179 11,469 For the finan¢ial year ending 5 April 2025 the charity w&$ entitled to exemption from audil under section 477 of the Companies Ad 2006 relating to small companie& Directors, responsibtlities: The members bave not required the cknity to obtain an audit of its accounts for the year iti qu¢5tion in aeeordance with section 476.. and The directors aeknowl¢dge their respon8ibiliti¢s for complyitig the requtrements of the Art with respect to accounting re¢ord$ #nd Uie preparaLion of aOunts. These financial 8tatemcnts have been prepared in accordance with the special provision5 relating to companies subject to the small compAnies regime within Part 15 of the Companies Act 21M)6. The financial slatcm¢nts on pages 7 15 were approved by the tnLStees. and authorised for TSSU¢ on 16 December 2025 and signed on their behalf by.. Alexandra Claire Knapp TnL8tc¢ The notes on pa8e$ 9 10 15 form inte1 part of these financial ststcmcnts. Page 8
The Malawl Scholarshlp Programme Notes to the Flnancial Statement5 for the Year Ended S April 2025 I Charlty Status The charity is limited by guarantee, in¢orporaled in England and 'al¢s. and consequently does not haie share capital. Each of the trusttts t$ liable to contribut¢ an amount no( exceeding £1 to$ the assets of the chartty in the event of liquidation. The addre58 of its registered offic¢ is: Walden Cottage Bull L]e Chalfoni SL Peter Buckingbarnshir SL9 8RY The financial slatements were authorid for issue by the tru8t¢¢s on 16 December 2025. 2 A¢¢ounting pollcies Summary of slgnlfleant aeeounting poiiclu and accounting cstimites The principal accounting policies applied ill the preparation of these financial 8t2tcments are set oui below. These policic5 havc b¢¢n consisttndy applied to all th¢ y¢ars presentrl unl¢s8 oth¢rvise si&ted. Sttement of compllance The fin&ncial statements have Ixen ptepaTd in aOrdae 1th Accouuting and Reporting by Charities: Statement of Recommended Pra¢tice (applicable to charities prepariDg their ae¢ounts ID accordance with the Finaneial R¢porting Standard applicable in th¢ UK and Rcpublic olIrelaDd {FRS 102)) (i$$u¢d in 0¢ber 2019) - (Charities SORP (FRS 102)), the Financial Rwrting Standard appli¢abl¢ in the UK and R¢publi¢ of Ireland (FRS 102) and the Companies Aci 2006. Basls of pr¢p#r#don The Mala Scholarship Programme meets the defjnition of a public benefit entity under FRS 102. Assets al liabiliti¢s are initially recognL5ed at historical cost or tra5acti¢)n Vdlue unless otherwise stated in the rrlcvant accounting policy noles. Golng etsnee The try$te¢s consider that ther¢ ar¢ no material uncertainties about the chariiys ability to continue as 2 going concern nor any significant areas of unc¢tlainty that affect the carying value of assets hcld by the charity. Ineome and endowments All income is rcco8ni5ed on¢e the charity ¢ntitJement to thE ioMe. It is probable the income will be rx¢iv¢d the amount of the income receivable can be ETHSu reliably. Donartons legacles Donations Ognised when th¢ charity has beth notified in BTiting of both the amount and settlement date. In the CVETrt that a donation is subject to conditions that require a Icvel of perfornianc¢ by the Charity before th¢ charity is entitled tD the funds, the income is delerred and not re¢ogD15ed until cither those condiiions arc fjjll meL or the fulfilmenr of those conditions is wholly within th¢ control of the charity and it is probable thcse conditions wyll bc fulfilled it) the reporting period. Page 9
The N.IYdlvdTr4 Scholarshlp Programme Notes to the Financial Statements for the Year Ended 5 Aprfil 2025 Grnnts re¢¢1Vle Grants recognised w,hen the charity h&4 aD entitlement to the fijnds and any ¢onditions linked to the grants have becn meL Where perforniance conditions are attached to the grant and are yet to be rnet. the income is reco8niscd a5 a liability 8lld included on the balance sheet deferred income to bc rele85ed. Expendlture A]1 ¢xpenditure is reco8nised once there is a legal or constrnctive obligition to thai expenditure, it is probable settiem¢nt is required and the amouttt can be measurcd reliably. All costs are allocated to th¢ applicable cxp¢nditur¢ h¢ading that awego simrlar costs to that cat¢gory. W1Jere costs carjnot be directly attributed to particular headings they have been allocad on a blS consistcnt with the use of resources, with centfdl sthff Costs allocated on the basis of time spen, and depreciation charges allocated on the portion of the asset's use. Other support costs ar¢ allocAted baBed on the spread of 5t&ff cost$. R41slngfunds These are costs incurred in attracting I'oluntary income. the management of itivestru¢nts and those incwred in trading activiti¢5 that raise funds. Chlritsble aclivihe5 Charitsble expenditure comprises those costs incurred by the charity in the dclivcry of it8 activitics and seryi¢es for its beneficiaries. It include5 both eosts that can be allocated direedy to such activitics and thosc costs of an indirect nature necess) to supp)rt them. Grahiprovisions rrovisions for grants are when th¢ intention makc a gryant ha$ b¢¢n communi¢at¢d the recipient but there is un¢¢rtainry about either the timing of the grant or th¢ amount of grant payabl¢. Support costs Support costs include central fictIonS and have been allocatcd to activity cost categories on a basis consistent with the use of resources, for cxarnple, allocating property costs by floor arw, or per capits. s¢aff ¢05ts by the tim¢ Spenl and other costs by their usagc. TixatAon The cbarity is cottsidered to pass the tests set out itt Patzgraph I Schedule 6 of the Finallce Ac( 2010 and therefore li meets thc definition of a charitable company for UK corporation tsx purposes. Accordingly, the harity is poieniially exempt from tsxation in respect of income or capithl gains received 'thirt categortes eovered by Chapter J Part i i of the Corporation Tax Act 2010 or Se¢iion 256 of thc Taxation of Chargeable Gains Act 1992, to th¢ extent that such income or gains are applied eyclwively to charitsble purposcs. Trade debtor$ Trade d¢btors are amounts due from athomer8 for merchalldise sold or services p¢rfonned in the ordinary course of bwiness. Trade debtors arc re¢ognised initially at th¢ transaction price. They 8r¢ Sllbs¢qu¢ntly measured at amortised ¢08t using the effective interest metho& less provision for impaimienL A proi'ision for the impaimient of trade dcbtors is estsbli5hed when thcre is objective evidenrK that the charity will not be abl¢ to Collect all amounts due according tr) the original teTms of the re¢eivables. Page 10
The Malawi Scholarshlp Programme Notes to the Financlal Staternents for the Year Ended 5 April 2025 Cash And egsh equlvAlents Cash and ¢ash equivalents COrnPTiS¢ cash on hand and 11 deposit& and other short-terni highly liquid ini'estments that are readily convertible to a known amount of cash And are subject to ttn insignificant risk of change in valu¢. Forelgn exebange Transactions in foreign aur¢ocies are recorded at the rate of exthang¢ a¢ the date of the trallsaction. Monetary 8S5ets and liabilitics d¢nominated in foreign CUfT¢nci¢s at the bal80¢¢ sh¢¢t date Are reported ai th¢ rntes of ¢x¢hange prevailing at that dale. The results of ovcrscas operations are translated at th¢ average rates of exchange during the period and their balance sheets at thc rates n]ling at the balance sheet dale. Exchange differen¢¢s atising on translation of the opening net assets and r&wlts of overseas operdtions ar¢ reported irt other ¢ompTehensive income and accthrnilated in equity (attributed to nonrfontrolling interests as appropriate). Other exchange differences are recognised in the Statement of Financiat Activilies in the period in which they arise except for= l) exchatjge differencex on transactions entered into to hedge certain foreign currency risks Ise£ above),. 2) ¢x¢hange differences arising on gains or losses on non-monetary itenLq which arc Tccognised in other 0mprehensie income- and 3) ID th¢ case of the Lonsulidated financial Statemell exchange differences on monetary ltrn rcceivable from or payable lo a foreign opth(ion for which settlement is neither planned nor likely (o occur (therefore forniin8 part of the Det investm¢nt in tbe forelgtt operdti(Trn), which are recogtiised in othcr comprehensive in¢om¢ and ported un(kr equity. Fund Strneture Unrestricted itjcome funds are general funds thai are aN'ailable for use at the dis¢r¢tion in furtherance of the objc¢lives of the charity. 3 Ineonht from donAtioDS and lega£ieJ Unrestricted furtds General Total t)onations and legacies; Donations from individuals Gift aid reclaimed Grants. including pittl grants. Granls from othtt ¢h8rities 110,191 3.654 110.191 3.654 8.154 8,154 Total for 2025 121,999 121.999 Total for 2024 5,285 5.285 P¥4g¢ I I
The MAIAThi Seholarshlp Programme I%Dtes to the Flnanclal Statements for the Year Ended 5 April 2025 4 lucome from other trdlDg actlilties LTDrestrlcted funds Gebergl TotBI runds Events income" Oth¢r ¢vents illcom¢ 19.803 19,803 To¢1 for 2025 19,803 19,803 T(tytal for 2024 5,150 5,150 5 Expenditure oll Y81ng fund$ I Costl of EeneTatlng dDTratlons and leg8cie5 Unrestrtcted ruDds General T(tyt*l fund$ Marketing and publicity 80 80 Tot for 202S 80 80 b) IDvestment Dnagee etsAts Unrestrle¢ed nds Gcneral Total runds Allo¢atcd 8UPPOrt costs 1.500 1,500 Total for 202S 1.500 ,500 Total costs 6 Expenditllye on ¢h#ritable a¢tiTr4tle$ Unrestrleted funds General Total d$ Grant funding of activities Total for 2024 7.481 7,481 I,R42 1,842 Page 12
The Malaiwi Schol8rshlp Programme INotes to the FiDgnclg1 Statements for the Year Ended S April 2025 Total expendlmre 7 Net infomlngloutgolng resourct$ Net InMIng resources for the year includ¢.' 2025 Tru5tee8 remyner•tlon and wApenses No tnttes. noT any persons connected wlth them. h&ve r¢¢¢ived any remunerntion from the chaTity durittg the No trwiees have recgived ally reimbursed expenses or any other bencfits from th¢ charity durin8 the year. 9 St8ff costs Thc aggregate pa}ToII costs were as follows.. 2025 Staff ¢ostJ durAng the year were: Other staff costs 604 The rnonthly averag¢ number of persons (including senior mana8em¢n¢ I ldship team) employed by the charity during thc y¢ar expressed as full tirne equivalents was as ftillous: 2025 2f124 Dittctors No Cmploy rcc¢ivcd emoluments of llJor¢ than £60,000 during th¢ y¢ar. Page 13
The Malawl Seholarship Programme Tr4otes to the FRnancig1 Statements for the Year Ended 5 April 2025 10 Tgxgtlon The chBtity is a regist¢red charity 4tKi is therefore exernp¢ from taxation. 11 Debtors 2025 Other debtors 12 Credltors: gmounts falling dne withln one ye8r 21125 Other creditors Accruats 1.500 1.501 13 Fund$ Balance at 6 Aprll 2024 IDcorning resources Resollrces expended Balance gt 5 Aprll 2025 Unrestrl¢t¢d fwlld Gertml 11,469 141,802 110.092) 143.179 Balance ¢ 6 April 21123 Incoming resoyr¢e5 Resources expended Balan¢¢ a15 April 2(124 UDre5tricled funds Generhl 2,876 10.435 (1,842 11,469 14 Anlysi8 of nel *sset$ between funds Unrestricted fund5 Gener Total funds at 5 April 21125 Cwrent #S5ets Current liabilitie8 144.680 (1.501) 143.179 144.680 (1,501} 143.179 Tot41 net assets Page 14
The Malawi Scholarshlp Programme Ilotes to the FlnAnclal Statements for the Yegr Ended 5 Aprll 2025 Unrestricted funds General Total funds at 5 Aprll 2024 Current set$ 11.469 11,469 IS Related party trnsactloJ During the y¢ar. the charity received a donation of £200 from a Close family m¢mb¢i of a trustee. This tran?action is disclosed as a relaied paty transaction. Th¢ donation was mad¢ withou¢ conditions and on nom1 charitablc tcrnis. Page 15
The malaTh Scholarsbip Programme St&tement of Financlydl Acdvities by fund for the Year Ended 5 Aprll 2025 Unrestrleted Funds Tot*1 Tthtsl Unrestrleted Unrestricted Funds Fund$ 2025 2024 Income and EDdowrn¢nts from: Donations and legacies Other trading aciivities 121,999 19,803 S,285 5,150 Tot&1 incorne 141.802 10,435 Expenditsre on: Raising funds Charitable activitios {2,611) j 1,481) Totsl ¢xpendittwe (10,0921 (1.842) income 131,710 8,593 Net movement fuTEds 131.710 8,593 Reeonclllatlon of funds Total fidS brought fojv 11,469 2.876 Total funds cfftllied fornrd 143,179 11.469 Thi& s¢ do¢s not fomi part of the ststutory fllwicial statetnents. Page 16
The MalaTrTri Sehol8rshlp Programme Detafiled Statement of Financa21 Actlvitie5 for the Year Ended 5 April 2025 Tot41 2025 Total 21124 Incorne and Endowments from: Donations legaeies {analysed below) Other trading actsvitiw (analyd below.) Total incotne l21,999 19.803 5,285 5,150 141,802 10,435 Expendlture on: Raising fimds (analys¢d belww) Charitable activities (analysed below) (2.61 E) 17,481) (1,842) Totsl exrrtndihwe (10,092 (1,842 Net InMe 131,710 8,593 Net mOVWDent in funds 131,710 8,593 Rceoneiiiatioll of fund5 Total fim(Ls brought forward 11,469 2,876 Total fijnds carricd foThward 143,179 11.469 This pag¢ do not fonn part of the ststutory financial statements. Pag¢ 17
The Malaiil Schol&r5hip Programme Detailed Statement of Flllanctal Aedvities for the Yevdr Ended 5 Aprll 2025 Tot#1 2025 TotAI 2024 4ndle%cleS Appeals and donations Gift Aid tsx reclaimed Grants- other a8eIi¢i 110,191 3.654 8,154 4.800 485 121,999 5285 Other trading oclivities Fundrdising 19.803 5,150 5,150 19,803 Fundrai$ing costs Publicity costs Staff ¢xpens¢s Independeni ¢xaminees fee 1427) 180) (604) (1,500) (2,611) ChaA¢able •¢vItI£l Grants payable - institutions Grants p3yable - individuals {6,475) (1,006) (7,481 {1,842) (1,842) This page does not fotm part of the stsnrtory fmamcial ststem¢nts. Pa¥¢ 18