Charlty Roglstratlon No. SC033449 (Scotlandl MALAWI TOMORROW CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 MALAWI TOMORROW CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees W T McAneney A Collins O Mullen Charlty number {S¢otlandl SC033449 Prln¢lpal address 48 Cleveden Drive Kelvinside Glasgow G12 ONU Independent examlner Kathleen Benham CA Benham Conway & Co Chartered Accountants 16 Royal Crescent Glasgow G3 7SL MALAWI TOMORROW CHARITABLE TRUST CONTENTS Page Trustees, report Independent examiner's report ststemenl of financial activities Balance sheèt Notes to the finanaal statements MALAWI TOMORROW CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The trustees present their annual report and financial ststements for the year ended 30 September 2025. The financial ststemenls have been prepared in a¢cordan¢e with the accounting policies set out in note 1 to th& financial statements and Comply with the charity's Constitution. thè Charities and Trustèè Invèstmént Iscouandl Act 2005, the Charities Accounts Iscodandl Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and RepLJblic of Ireland. and 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 IFRS 1021. Objactivos and activitias The charitys objective is the relief of poverty and the advancement of education and health in Malawi. The trustees have paid due regard lo guidance issued by the Charity Comrnission in deciding what activities the charity should undertake. Achievements and performance In the past year the trustees have concentrated on the scholarship awards programme which aims lo provide basic primary and secondary education tsigeled principally on orphans and other vulnerable children. This h8S resulted in awards for 40 primary and 65 secondary pupils together with 4 young people entering university. Financial review Results for the year ended 30 September 2025 are given in the Statement of Financial Activities on page 4. The assets and liabilities are detailed on the Balance Sheet on page 5. The Statement of Financial Activities shows a net inflow of funds for the year of £10,81612024 - £1871. This added to the funds brought fotward gives a surplus lo carry forward of £10,63612024 - deficit of £1801. Full details of income and expenditure are sel out in notes 1 10 8 of the accounts. The trustees, policy is lo maintain reserves al around three months of nomial operating costs. Cash reserves at the year end were £11,21612024- £4001. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place lo miligale exposure to the major risks. Future plans It is the trustees, intention lo continue to support education through ils scholarship awards programme. New premises have been found for the build of a new school which will initially be opened as a pre-school. There has been 8 delay with moving this proje¢l forward due lo addition81 fundraising in Malawi. It is still the Iruslees, intentions to Continue to look for a solution. The opening ol the school has been pushed back to a later date in the future. Half the pupils will be fee paying and this should meet the schoDI's running costs. MALAWI TOMORROW CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Structure, goveman¢e and management The charity was created by the completion of a Letter of Trust on 22 August 2002. The charity is controlled by its governing document, a Deed of Trust, and conslitules an unincorporated charity. The trustees who served during the year and up to the date of signature of the financial statements were.. W T McAneney A Collins O Mullen Trustees are appointed for a term of 12 month5. There is no reslriclion on the number of times a trustee may be re-elected. The Iruslees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial slalements may differ from legislation in other jurisdictions. The trustees, report was approved by the Board of Trustees. W T McAneney Trustee 17-Jun-2026 Dated.. MALAWI TOMORROW CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MALAWI TOMORROW CHARITABLE TRUST I report to the charity trustees on my examination of the financial statements of the charity for the year ended 30 September 2025, which are set OLJt on pages 4-9. Rèspectlvè rèsponslbllltlès of trusteès and èxamlnèr The charity's trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts Iscouandl Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10111 (al lo Icl of the Accounts Regulations does not apply. 11 is my responsibility lo examine the financial statements as required under section 44111 Icl of the Act and lo slate whether particular mallers have come lo my attention. 8asis of independent examinerfs report My examination is carrièd out in accordancè with R&gulation 11 of thè 2006 A¢counts R￿Ulations. An examination indudes a ￿VIeW of the accounting records kept by the ¢harity and a comparison of the finan¢ial statements presented with those records. It also inclLJdes consideration of any unusLJal items or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements. Independent examiner's statement In the course of my examination, no rnatter has come lo my attention.. lal which gives me reasonable cause to believe that in any material respect the requirements.. lo keep accounting records in accordan￿ with section 44111 lal of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations,. and lill lo prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts RègLJlations', have not been met., or Ibl lo which, in my opinion, attention should be drawn in order lo enable a proper understanding of the 8¢counls to be re8¢hed. Use of our report This report is made to the charity s board of trustees, as a body, in accordance with the terms of engagement. My work has been undertaken to enable me to undertake an independent examination of the charity's financial statements on behalf of the charity's board of trustees and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's board of trustees as a body, for my work or for this report. Kathleen Benham CA Benham Conway & Co Chartered Accountants 16 Royal CreS￿nt Glasgow G3 7SL 2210612026 Dated.. MALAWI TOMORROW CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025 2025 2024 Notes Income from- Donations and gifts Investments 274,655 30 228,130 17 Totsl income 274,685 228,147 ¥ndltur¢ on.. Charitable activities 263,869 227,960 Net income for the yearl Net movement In funds 10,816 187 Reconciliation of Funds FLJnd balan￿S at 1 October 2024 11801 {3671 Fund balan¢os at 30 September 2025 10,636 {1801 l income and expenditure for Ihe current and comparative year are in respect of unrestricted funds. MALAWI TOMORROW CHARITABLE TRUST BALANCE SHEET ASAT30 SEPTEMBER 2025 2025 2024 Notes Current assets Cash at bank and in hand 11,216 400 Cr¢dltors- amounts falllng du¢ wlthln one year 15801 15801 Nel current 8ssetsllli8bililiesl 10,636 11801 In¢ome funds Unrestricted funds 10,636 11801 10,636 11801 17-Jun-2026 The financial statements were approved by the Trustees on W T M¢Aneney Trustee MALAWI TOMORROW CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 A¢¢ountlng pollcles Charlty Infomiatlon Malawi Tomorrow Charitable Trust is a charity registered in Scotland. The principal address is 48 Cleveden Drive, Kelvinside, Glasgow, G12 ONU. 1.1 Accountlng conventlon These financial statements have been prepared in accordance with the Charities and Trustee Investment (Scollandl Act 2005, the Charities Accounts Iswtlandl Regulations 2006, the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 and "Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in a¢cordan¢tr with the Financial Reporting Stsndard applicable in the UK and Republi¢ of Ireland IFRS 1021" The charity is a Public Benefit Entity as defined by FRS 102. Thè financial statÈm8nts arè prèparéd in starling, which is thé functional currancy of th8 charity. Monatary amounts in these financial statements are rounded to the nea￿st £. The financi81 stslemenls have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng Concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for at least the next 12 months and they have not identified any material uncertainty with regards lo going concem. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restrided funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the reslricled funds are sel out in the notes lo the financial statements. 1.4 Incomlng rèsourcès Income is recognised when the charity is legally entitled to it after any performan￿ conditions have been mel, the amounts can be measured reliably, and it is probable that income will be re￿ived. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation. Income tax recoverable in relation to donations re￿iVed under Gift Aid or deeds of Covenant is recognised at the time of the donation. MALAWI TOMORROW CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accounting policies (Continued} 1.5 Resources expended Liabilities are recognised as resour￿$ expended as soon as there is a legal or constructive obligation ommitting the charity lo the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. These are allocated as between charitable expenditure and support ¢osts. Chariiable expenditure is incurred in direct pursuance of the charity's principal objectives and as set out in the trustees. report. Support costs comprise of those costs directly attributable lo the support of the charity. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held al call with banks. 1.7 Financial instruments The charity has 818ctgd lo apply the provisions of Section 11 'Basi¢ Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. 8asi¢ finan¢ial assets Basic financial assels, which include cash and bank balances, are measured at Iransaction price. Ba$1¢ flnon¢lal 11obllltles Basic financial liabilities are recognised at transaction price. 1.8 Taxation The company is a registered charity and accordingly is exempl from laxalion on ils incorne and gains where they are applied for charitable purposes. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other SoUr￿s. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimate5. The estimates and undedying assumptions are revièwed on an ongoing basis. Revisions to a￿OuntIng 8stimat8s are recognised in the period in which the estimate is revis8d wharè tha revision affects only that period, or in the period of the revision and futLJre periods where the revision affects both current and future periods. The trustees consider there to be no critical accounting estimates and judgements. MALAWI TOMORROW CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Donatlon$ and glfts 2025 2024 Donations and gifts Gift aid 229,930 44,725 190,724 37,406 274,655 228.130 Investments 2025 2024 Interest re￿1vable 30 Charitable activities 2025 2024 Donations made Consultancy fees 232,491 29,218 198,030 28,150 261,709 226,180 Share of support costs 2,160 1,780 263,869 227,960 Analysis by fund Unrestricted funds 263,869 227,960 Support costs includes payment to the independent examiners of £960 12024 - £4801 for independent examination fees. Trustees None of the trustees lor any persons connected with them) received any remuneration or reimbursement of expenditure during the year. MALAWI TOMORROW CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Credltors: amounts falllng due wlthln one year 2025 2024 Accruals and deferred income 580 Related party transa¢tlons There were no disclosable related party transactions during the year {2024- None).