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
Tr￿￿te¢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 dIre￿Or5 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] sUp￿rt.
Grant-fund¢d scholarships
Nine of the scholarships ar¢ fi￿ded 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 stt￿ent 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 8lsnifi￿t 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 S￿dents 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 I￿al 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¢ guida￿Ce 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 ttus*e5 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 S￿ZAnna 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 TnJs*es 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 pu4￿se3.
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 beca￿Se 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 Pro￿51•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]i￿ble 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.'
obsc￿e 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
n￿terial 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 t￿￿tee% ar¢ Tespon.4ible for keeping proprr accountillg records thai can dis¢lose with reasonablc aC￿raCY 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￿¢g￿larltieS.
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 tr￿￿te&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¢s￿nsible 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
examin￿10￿ 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 2￿QUntIng 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
r*ot¢
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 fi￿dS 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
ExpendI￿re 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
Reconclli*dtstt 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 a￿Ounts.
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 inte￿1 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
Th￿e financial slatements were authori￿d 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¢rv*ise si&ted.
St*tement of compllance
The fin&ncial statements have Ixen ptepaTd in a￿Orda￿e ￿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 tra￿5acti¢)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 i￿oMe. 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¢¢1V￿le
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 alloca￿d on a b￿lS 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 fi￿ctIonS 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
0mprehensi￿e 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 tr*dlDg 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 Y￿81ng 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 D￿nage￿￿￿e 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 In￿MIng resources for the year includ¢.'
2025
Tru5tee8 remyner•tlon and wApenses
No tn￿ttes. 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 l￿d￿ship 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 An*lysi8 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 tr*nsactloJ
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 nom￿1
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 fi￿dS 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 (analy￿d 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 In￿Me
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