Charity registrdtion number 1082344 {England and Wales)
Company registrdtion number 03918058
CHRISTEL HOUSE EUROPE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

CHRISTEL HOUSE EUROPE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Lord Anthony St John
Ms Diana Aitchison
Mr Paul Baker
Mr Dimitris Manikis
Secretary
Elizabeth Taylor
Charity number {England and Wales)
1082344
Company number
03918058
Registered office
Office 6
Harborough Innovation Centre
Airfield Business Park
Market Harborough
Leicestershire
LE16 7WB
Independent examiner
Mayfield & Co.
2 Merus Court
Meridian Business Park
Leicester
LE19 IRi
Banker5
Lloyds TSB Bank PIC
40 The Square
Market Harborough
Leicestershire
LE16 7PE
Solicitors
Withers LLP
16 Old Bailey
London
EC4M 7EG

CHRISTEL HOUSE EUROPE
CONTENTS
Page
Trustees report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
6-13

CHRISTEL HOUSE EUROPE
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements ft)r the year ended 31 December 2024.
The accounts have been prepared in accordance with the accounting policies set out in note I to the account5 and comply
with the charity's Memorandum of Association, the Companies Art 2(K)6 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 {FRS 1021 leffertive l January 20151"
Objectives and activities
The charity's objectives are set out in the charity's trust deed and are summarised below.
Christel House is an international non-profit organisation dedicated to fostering a world where poverty does not limit
potential. We operate a network of nine no-fee schools latross India. South Africa, Mexico, Jamaica and the United States)
that transform the lives of students experiencing poverty through career-focused education and holistic support. Our mission
is to ensure our graduates achieve upward economic mobility. demonstrate good citizenship, and become empowered to
identify and realise their goals, dreams. and human potential.
We address the root causes of poverty through a proven 18-year. holistic human development model that combines rigorous
academics with comprehensive wrap-around services including healthcare. nutrition, mental health support, parent and
caregiver training, and college and career programming for five years after high school graduation. It is a deep commitment
that helps students demonstrate that they have limitle55 Potential.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should
undertake.
Achievements and performance
Significont activities and achievements against objertives
Over the past 25 years. Christel House has impacted the lives of more than 21,000 underserved students. Currently. we enrol
more than 7,000 students across five countries with plans to expand our impact. Today, 97% of graduates are in education,
training and employment, with 70% of graduates securing high quality early career employment (jobs Wlth benefits) - proof
that the Christel House model works.
At Christel House South Africa. 82% of graduates qualify for university study through the national senior exam Idouble the
provincial average). 80% of Christel House India graduates complete post-secondary education (five time5 the rate of their
national peers). Christel House Mexico graduates are twice as likely to secure formal employment (jobs with benefits)
compared to their national peers. Christel House Jamaica opened in 2020 and has already seen a 45% increase in students
reading at or above grade level. Christel House Indianapolis graduates are the second highest income earners on average
among public school graduates in the district.
Financial review
The surplus for the year amounted to £13.940 {2023 Surplu5= £46.3801.
During the year the charity made grants of £109.344 to Christel House South Africa. £53,675 to Christel House India, £1,000 to
Christel House Jamaica and £1,000 to Christel House Mexico.
Grants made during the year were up on previous years.
Christel House International Inc has undertaken to donate sufficient funds to the company to cover it5 administrative and
fundraising expenses, accordingly, the trustees request funds when required. Therefore the trustees have decided that
reserves can be maintained at a relatively low level. due to limited administrative costs incurred.

CHRISTEL HOUSE EUROPE
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment policy
The trustees have considered the most appropriate policy for investing funds and believe that. with the current level of funds,
it is appropriate to hold the money in bank accounts, However as funds grow, alternative investments will be considered to
ensure the best return is obtained whilst maintaining risk at a low level.
Mojor risks
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in plate to
mitigate exposure to the major risk5.
Structure. governance and management
The organisation is a charitable company limited by guarantee. incorporated on 28 January 2000, and registered as a charity
on 8 September 2000. The company was established under a Memorandum of Association which established the objects and
funds of the charitable company and is governed under its Articles of Association.
There are two categories of mernbership= 'A' and 'B' rnembers. The sole 'A' member 15 Christel House International Inc. The
directors of the company who are also the charitable trustees for the purpose of charity law are 'B' members. In the event of
the company being wound up. each member's liability is limited to £1.
The trustees, who are also the directors for the purpose of company law. and who served during the year and up to the date
of signature of the financial statements were..
Lord Anthony St John
Ms Diana Aitchison
Mr Paul Baker
Mr Dimitris Manikis
RecruAtment ond oppointment of trustees
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and
guarantee to contribute £1 in the event of a winding up.
The trustees report was approved by the Board of Trustees.
Ms Diana Aitchison
Trustee
16 April 2025

CHRISTEL HOUSE EUROPE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CHRISTEL HOUSE EUROPE
I report to the trustees on my examination of the financial statements of Christel House Europe (the charity) for the year
ended 31 December 2024.
Responsibilitie5 and basi5 Qf report
As the trustees of the charity land also its directors for the purposes of company lawl, you are responsible for the preparation
of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the
Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity's
financial statements carried out under sertion 145 of the Charities Act 2011. In carrying out my examination I have followed
the Directions given by the Charity Commission under section 14515llb) of the Charities Act 2011.
Independent examiner's 5taternent
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination
giving me cause to believe that in any material respect=
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records: or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006
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- or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial
statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
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 statement5 to be reached.
Mayfield & Co.
2 Merus Court
Meridian Business Park
Leicester
LE19 IRJ
16 April 2025

CHRISTEL HOUSE EUROPE
STATEMENT OF FINANCIAL AcfiviTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestrirted
funds
2024
Re5trirted
funds
2024
Total
Unre5trirted
funds
2023
Restricted
funds
2023
Total
2024
2023
Notes
Income from:
Donations and legacie5
Other trading activities
85,077
22,216
123,926
2.750
209.003
24,966
106.523
29,549
74,230
7,379
180,753
36,928
Total income
107,293
126,676
233.969
136.072
81,609
217,681
Expenditure on:
Raising funds
Charitable activities
Management and
administration
Grants expense
44,465
44.465
63.460
63,460
10,545
29,171
10,545
165,019
17.911
31,003
17,911
89,930
135.848
58,927
Total charitable
expenditure
39,716
135,848
175.564
48.914
58,927
107,841
Total expenditure
84,181
135,848
220.029
112.374
58.927
171,301
Net income/lexpenditure) and
movement in funds
23,112
{9,172)
13,940
23.698
22.682
46,380
Reconciliation of funds:
Fund balances at l January 2024
33,818
35,438
69,256
10,120
12,756
22,876
Fund balance5 at 31 December
2024
56,930
26.266
83.196
33,818
35,438
69,256
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive
from continuing activities.

CHRISTEL HOUSE EUROPE
BALANCE SHEET
ASAT31 DECEMBER 2024
2024
2023
Notes
Current asset5
Debtors
Cash at bank and in hand
12
14,019
71,637
5,114
67,862
85.656
12,4601
72,976
13,7201
Creditors: amounts falling due within one year
13
Net current assets
83.196
69,256
The fund5 ofthe charity
Restricted income funds
Unrestricted funds
15
26,266
56.930
35,438
33.818
16
83,196
69,256
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for
the year ended 31 December 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect
to accounting records and the preparation of financial ststements.
The members have not required the company to obtain an audit of its financial statements for the year in question in
accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small
companies regime.
The financial statements were approved by the trustees on 16 April 2025
Ms Diana Aitchison
Trustee
Company registration number 03918058 (England and Wales)

CHRISTEL HOUSE EUROPE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity information
Christel House Europe is a private company limited by guarantee incorporated in England and Wales. The registered
office is Office 6, Harborough Innovation Centre, Airfield Business Park, Market Harborough, Leicestershire, LE16 7WB.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act
2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP
"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"
The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of tash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity- Monetary amounts in
these financial statements are rounded to the nearest £.
The principal accounting policies adopted are Set out below.
1.2 Going 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 the foreseeable future. Thus the trustees continue to adopt
the going concern basis of accounting in preparing the financial ststements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and
uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the
amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recoEnised once the charity has been notified of the
donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to
donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the
amount is known, and receipt is experted. If the amount is not known, the legacy is treated as a contingent asset.

CHRISTEL HOUSE EUROPE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
{Continuedl
1.5 Expenditure
Expenditure is recognised once there is 3 legal or construrtive obligation to transfer economic benefit to a third party, it
is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be
measured reliably.
Expenditure 15 classified by activity- The costs of each artivity are made up of the total of direct costs and shared costs,
including support costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated
directly to that activity. Shared costs which contribute to more than one activity and support costs which are not
attributable to a single activity are apportioned between those artivities on a basis consistent with the use of resources.
Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the
asset's use.
Costs of generating funds are those costs associated with the golf event which takes place annually to raise donations
for the charity.
Grants payable are recognised in the period in which they are incurred.
Expenditure is recognised in the year in which it is incurred and includes attributable VAT which cannot be recovered.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments
with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in
current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther
Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recogni5ed in the charity's balance sheet when the charity becomes party to the contractual
provisions of the instrument.
Ba5icfinanciTal a55ets
Basic financial assets, which include debtors and cash and bank balantes. are initially measured at transaction price
including transaction costs and are subsequently carried at amortised c05t Using the effective interest method unless
the arrangement constitutes a financing transattion, where the transattion is measured at the present value of the
future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not
amortised.
Basicfinuncial liabilities
Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the
future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not
amortised.
Debt instruments are subsequently carried at amortised cost. using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations
from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they
are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequentlv
measured at amortised cost using the effective interest method.

CHRISTEL HOUSE EUROPE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
{Continuedl
Derecognltlon oAfinontiol liobilities
Financial liabilities are derecognised when the charitvs contrartual obligations expire or are discharged or cancelled.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to
terminate the employment of an employee or to provide termination benefits.
1.9 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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 carrying amount of assets and liabilities that are not readily apparent from other sources. 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 estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of
the revision and future periods where the revision affects both current and future periods.
Incorne frorn donations and legacie5
Unrestricted
funds
2024
Restricted
funds
2024
Totsl
Unrestricted
funds
2023
Restricted
funds
2023
Total
2024
2023
Donations and gifts
85,077
123,926
209,003
106,523
74,230
180,753
Donations and gifts
Christel House International
Inc
84,544
533
84,544
533
32,653
89.273
1.000
i.O(KJ
105.003
1.520
105,003
1,520
21,615
52,615
General donations
India
South Africa
Jamaica
32,653
89.273
1,000
1.000
21,615
52,615
Mexico
85,077
123,926
209,003
106.523
74,230
180,753

CHRISTEL HOUSE EUROPE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from other trading artivities
Unrestricted
Restricted
Totsl
Unrestricted
Restricted
Total
funds
2024
funds
2024
funds
2023
funds
2023
2024
2023
Fundraising events
22,216
2,750
24.966
29,549
7.379
36,928
Expenditure on raising funds
Unrestrirted
funds
Unrestricted
funds
2024
2023
Fundraising and publicity
Staging fundraising events
Other fundraising costs
Staff costs
4.796
28.055
11.614
7,479
10.243
45,738
44,465
63,460
Grants payable
Grants
Grants
expense
2024
expense
2023
Grants to institutions=
Donations to India
53,600
109,419
25,009
64,921
Donations to South Africa
Donations to Jamaica
Donations to Mexico
165,019
89,930
Support costs allocated to activities
2024
2023
Governance costs
2,340
2,100
Analy5ed between:
Management and administration
2,340
2,100

CHRISTEL HOUSE EUROPE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Net movement in funds
2024
2023
The net movement in funds is stated after chargingllcreditingl=
Fees payable for the independent examination of the charity's financial statements
2,340
2,100
Trustees
None of the trustees lor any persons connerted with them} received any remuneration or benefits from the charity
during the year.
io
Ernployees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Ernployment cost5
2024
2023
Wages and salaries
Other pension costs
17,887
1.035
46,990
4,873
18,922
51.863
There were no employees whose annual remuneration was more than £60,(￿0.
Remuneration of key management personnel
The remuneration of key management personnel was as follows..
None of the key management personnel received an remuneration during the year12023.. £Nill.
li
Taxatlon
The charity is exempt from taxation on its attivities because all its income is applied for charitable purposes.
10-

CHRISTEL HOUSE EUROPE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12
Debtors
2024
2023
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
13,809
210
5,114
14,019
5,114
13
Creditors: amounts falling due within one year
2024
2023
Accruals and deferred income
2,460
3,720
14
Retirement benefit schemes
2024
2023
Defined contrlbutlon schemes
Charge to profit or loss in respect of defined contribution schemes
1,035
4,873
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are
held separately from those of the charity in an independently administered fund.
15
Restrirted fund5
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to
specific conditions by donors as to how they may be used.
At l January
2024
Incoming
resources
Resources At 31 December
expended
2024
South Africa
India
Jamaica
22.825
12.613
92,023
32,653
1.000
1.000
191,8311
142,0171
11,0001
11,0001
23,017
3,249
Mexico
35,438
126,676
1135,8481
26,266
11

CHRISTEL HOUSE EUROPE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15
Restricted funds
{Continuedl
Previou5 year:
At l January
2023
Incoming
resources
Resources At 31 December
expended
2023
South Africa
India
12.756
59,994
21,615
149,9251
19,0021
22,825
12,613
12.756
81.609
158,9271
35,438
16
Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject
to specific conditions by donors and grantors as to how they may be used. These include designated funds which have
been set aside out of unrestricted funds by the trustees for specific purposes.
At l January
2024
Incoming
resources
Resources At 31 December
expended
2024
General funds
33.818
107,293
184,1811
56,930
Previou5 year:
At l January
2023
Incoming
resources
Resources At 31 December
expended
2023
General funds
10,120
136,072
1112,3741
33,818
17
Analysis of net assets between funds
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 December 2024:
Current assets1lliabilitiesl
56,930
26,266
83,196
56.930
26,266
83,196
12-

CHRISTEL HOUSE EUROPE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
17
Analysis of net assets between funds
{Continuedl
Unre5trirted
funds
Re5trirted
funds
Total
2023
2023
2023
At 31 Decernber 2023:
Current assets/lliabilitiesl
33.818
35,438
69,256
33,818
35,438
69,256
18
Related party transactions
Christel House International Inc. which is the 'A' member of the charity. agreed to cover all administrative expenses
during the year. An amount of £84.54412023 - £105.0031 was received during the year.
Grants of £109,41912023 - £64,921) have been incurred by Christel House Europe during the year in relation to Christel
House South Africa.
Grants of £53,60012023 - £25.0091 have been incurred by Christel House Europe in relation to Christel House India.
Grants of £l,00012023 - Enill have been incurred by Christel House Europe in relation to Christel House Jamaica.
Grants of £l,00012023 - £nil} have been incurred by Christel House Europe in relation to Christel House Mexico.
13-

REF. NUMBER **`QJBWU-XPPGE-YSOVW-6SKWF`** 

## **SIGNER** 

## **DIANA AITCHISON** 

EMAIL **`DAITCHISON@UK.CHRISTELHOUSE.ORG`** SHARED VIA **`LINK`** 

## **TIMESTAMP** 

SENT **`16 APR 2025 11:45:33 UTC`** VIEWED **`16 APR 2025 21:04:30 UTC`** SIGNED **`16 APR 2025 21:04:50 UTC`** 

DOCUMENT COMPLETED BY ALL PARTIES ON **`16 APR 2025 21:04:50 UTC`** 

## **SIGNATURE** 

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