l Keeping
dreams alive
Annual Report 2020
THE CITIZENS FotrNDATION (UK)
Before COVID-19 disrupted lives and livelihoods across the world, Pakistan was already in the midst of an education crisis with millions of vulnerable children out of school. Now, as the pandemic pushes more families into poverty, many school–going children may be forced to work full–time, and girls in particular might never return to school – putting learning opportunities for an entire generation at risk.
For over 20 years, The Citizens Foundation (UK) has worked closely with The Citizens Foundation, Pakistan’s leading education charity, to make education accessible to each child in Pakistan. While we have come far, this pandemic has made our task even more challenging. As we move ahead with renewed vigour and resolve, we need your support more than ever.
**Join us in bringing our children back to school, and in keeping their dreams alive.**
## **Legal Status and Purpose**
The Citizens Foundation (UK) (TCF-UK) was registered as a charity on 6 August 2001 with the Charity Commission for England and Wales (Charity No: 1087864). It is constituted as a company: No. 4075959 (England and Wales) with an Independent Board of Directors (Trustees). TCF-UK’s aim is to raise awareness of and funds for The Citizens Foundation (TCF), Pakistan’s leading education charity. TCF-UK’s Registered Office is at 48 Charlotte Street, London, W1T 2NS.
## **CONTENTS**
|**CONTENTS**||
|---|---|
|Foreword|**05**|
|Our Vision, Mission & Values|**07**|
|Our Impact & TCF School Network|**08**|
|TCF COVID-19 Response Appeal|**19**|
|Learning in Times of COVID-19|**20**|
|Welcoming our Children Back to School|**28**|
|Review of TCF-UK Activities|**36**|
|Global Awards|**41**|
|How to Support TCF|**42**|
|Who We Are|**46**|
|Financial Statements|**51**|
The TCF team rose up to the COVID-19 situation, acting swiftly to put our work back on track and move forward with our mission.
## **FOREWORD**
## **Dear Donors, Supporters and Volunteers**
2020 has been an exceptionally difficult year, exposing us to unprecedented challenges brought upon by the COVID-19 crisis. The ensuing lockdown in March 2020 meant a complete shift in the way we operate and raise funds. Our in-person fundraising events were cancelled. Our schools and all other programmes in Pakistan came to a screeching halt in April, causing a massive disruption in education, especially for children living in impoverished areas of the country.
Amidst this uncertainty, we remained resilient and committed to our vision, forging ahead through innovative and dynamic strategies whilst tackling the various issues presented by COVID-19. We are grateful to our teams, both here in the UK and in Pakistan, who rose to the occasion and worked tirelessly to put our work back on track and to protect the lives and livelihoods of our students, teachers, and communities.
In the UK, we pivoted to remote working and virtual engagement seamlessly. We are deeply thankful to our donors, volunteers and supporters who came together to help us launch online fundraisers and organise highly creative and engaging virtual events such as music concerts, star studded birthday celebrations, book launches and quiz nights. Thanks to your generosity and support, we also raised a record amount during Ramadan.
In Pakistan, TCF Pakistan’s Board and Management decided to retain all TCF employees, including our teachers and principals. This decision enabled them to focus on their families, helping them sustain through the crisis rather than worry about their jobs. Our faculty also played an instrumental role in facilitating our distance learning efforts and ensuring our students experience minimal disruption in their learning.
On 1st April, TCF Pakistan, in conjunction with their worldwide country partners including TCF-UK, launched our COVID-19 Response Appeal to help fight the devastating impact of the crisis on TCF communities. Our Alumni in Pakistan came together as a unified youth movement on the frontlines of our COVID-19 Response. They, together with our teachers and principals, were on the ground for almost two months to lead our efforts to provide cash-based relief to struggling households across Pakistan. They surveyed, collected data and facilitated relief for more than 45,500 deserving families across 250 communities. This is something we can all take great pride in: our 25-year-old movement to empower children and youth of Pakistan is now blooming! As part of its distance learning efforts, TCF Pakistan also launched a TV show called “Ilm Ka Aangan” (The Learning Courtyard) and published an edutainment magazine by the same name. The TV show attracted 6 million viewers each week. Nearly 180,000+ copies of the magazines have been printed to date. Other low-cost school operators have also been using the magazine to help their students learn outside the classroom.
While there have been some positive steps in terms of vaccine development and execution, the threat from COVID-19, particularly in countries like Pakistan, is far from over. The pandemic has triggered the largest education crisis in history, disproportionately affecting the most vulnerable children, especially girls. Unplanned school closures in Pakistan continue to disrupt learning and livelihoods.
As the largest national network of schools for less privileged children in Pakistan, we remain determined to play a key role in resolving this education crisis. Like you, we believe that every child must get a fair and equal opportunity to succeed in life. We will continue to closely monitor the situation and do our best to respond as swiftly as possible to any foreseeable risk here in the UK and in Pakistan whilst protecting and preserving the future of our students, teachers and communities.
Thank you so much for standing by us this past year. Without your unwavering support and commitment, we would not be able to carry out our life changing work.
**TCF-UK - Annual Report 2020 | 05**
The Citizens Foundation (UK) raises funds for The Citizens Foundation (TCF), Pakistan’s leading education charity. TCF is a professionally managed, not-for-profit organisation set up in 1995 by a group of citizens who wanted to bring about positive social change through education.
The TCF model focuses on providing quality education through purpose-built schools located in the heart of Pakistan’s urban slums and rural communities. The organisation ensures that girls make up nearly 50% of overall student strength. To magnify its impact, improve enrolment and quality of education, TCF is also adopting failing Government schools across Pakistan.
## **MISSION**
## **Positive Change**
To remove barriers of class and privilege, to make the citizens of Pakistan agents of positive change.
## **VISION**
## **Quality Education**
To enable moral, spiritual and intellectual enlightenment through quality education.
## **Better Future**
Creating opportunities to improve quality of life.
## **VALUES**
**Integrity Ownership Continuous Improvement**
**TCF-UK - Annual Report 2020 | 07**
## **OUR IMPACT IN NUMBERS**
**25 years of believing in the power of education**
**700+**
**Communities reached across Pakistan**
**School Units operational in all provinces 1,687**
**Students reading, learning and dreaming 275,000**
**50,500 Graduates empowered to pursue their dreams**
**150,000 Adult learners empowered to read and write**
90% of TCF matriculates pursue Intermediate education
48% of them go ahead to complete their tertiary education
71%* of TCF alumni above the age of 22 are gainfully employed and another 15% are still studying
*This percentage number is based on an alumni survey conducted in 2017 All numbers are projected totals for 2021-22
## **PROVIDING EDUCATION ACROSS THE NATION**
**In more than 700 locations across Pakistan, we are on-the-ground providing quality education where it is needed the most.**
**----- Start of picture text -----**
School Units
Sindh 797
Punjab 723
Balochistan 84
KPK 72
AJK 11
**----- End of picture text -----**
_A bigger dot plotted for school locations in Karachi in this dot density map denotes 400+ schools in peripheral areas and slums in the city._
**10 | Keeping dreams alive**
TCF-UK- Annual Report 2020 111
## **A GENERATION AT RISK**
The COVID-19 pandemic has triggered an education emergency of unprecedented scale. A recent report published by ‘Save the Children’ estimates that at least 10 million school-going children across the world will be forced to drop out of school due to the impact of the pandemic.
The report states that:
**“Pakistan is one of 12 countries at extreme risk of increased school dropouts and wider learning inequalities”.**
Save the Children, (2020). Save Our Education. https://resourcecentre.savethechildren.net/node/17871/pdf/save_our_education_0.pdf
## **Rising poverty levels risk a rise in out-of-school children**
## **More girls will be forced into early marriages**
Loss of income will drive more parents to marry off their young daughters to reduce their economic burden.
## **More boys will take up full-time jobs**
More children, particularly boys, will be forced to work full time to help families cope with income losses during the crisis.
## **Learning inequality will increase**
The digital divide[1] in Pakistan has resulted in severe learning losses for marginalised students and may lead them to drop out of the education system forever.
1 Only one million school-age children have regular access to digital devices and bandwidth, according to the Pakistan Telecommunications Authority.
**TCF students take over responsibility of their father's studio when he leaves town.**
_Ayesha (holding a camera) with her sisters and father in their photography studio._
“Our father had to leave for Punjab when our grandfather fell ill amid COVID-19, leaving me and my four sisters in charge of his shop. He is a photographer, and so we had to figure out how to operate the system, deal with customers and manage the finances in his absence. Because of the pandemic, we also had to make sure that we were following all health and safety guidelines in our shop while providing service. At the same time, we were keeping up with the learning opportunities that our school was providing us with.
Our father has returned now, but we still go and help him out in the shop. Something worth to keep in mind is that, as children, we should always be our parents’ courage. My teachers have always encouraged me to believe in myself and remain confident no matter how hard the circumstances are. We were nervous but that did not stop us. Through thick and thin, we stood shoulder to shoulder with our parents in support and persevered through this difficult time.”
**Ayesha Salim Grade 8 | Musa Goth, Karachi**
_Boota, a TCF student in Lahore, bathing his little brother in their makeshift tent._
_As TCF schools reopen across Pakistan, strict emphasis has been placed on personal hygiene and social distancing to control the spread of COVID-19._
**16 | Keeping dreams alive**
_Miraj and his younger brother, TCF students in Gwadar, on their way to collect fresh water from a facility 45 minutes away._
## **TCF COVID-19 RESPONSE APPEAL**
In April 2020, The Citizens Foundation launched its COVID-19 Response Appeal to battle the devastating impact of the coronavirus crisis. Under this appeal, 20% of Sadaqah, Zakat or general donations given to TCF went towards providing essential relief to impacted communities and support to frontline healthcare professionals and volunteers, along with ensuring continuity of learning for millions of children who were forced to stay out of school.
## **Sustaining TCF Communities**
We provided cash-based relief to struggling families in our most vulnerable school communities.
## **45,500 250 Households Communities**
**£ 530,000 distributed in**
## **Highlights**
The relief efforts were led by thousands of TCF teachers and alumni who identified the most deserving households suffering amid the lockdown.
We partnered with JazzCash to disburse relief via mobile-cash transfers for impacted households.
Upon receiving relief funds, the families purchased groceries from their own neighbourhoods, which gave a boost to the economic activity in the community.
## **Supporting Frontline Healthcare Workers**
We supported frontline healthcare professionals and volunteers with protective gear that they urgently needed.
**20,000 34+ PPE Kits Healthcare Centres**
**£ 96,000 invested in PPE Kits**
## **Highlights**
We provided support to community-based hospitals and healthcare centers.
Our PPE kits included non-woven 60GSM coveralls, N-95 masks and latex gloves.
The protective gear helped in protecting our frontline fighters - doctors, nurses, clinical staff and healthcare volunteers, braving the frontlines to save lives.
**TCF-UK - Annual Report 2020 | 19**
## **LEARNING IN TIMES OF COVID-19**
**TCF designed and launched its Distance Learning and Support Programme.**
With no access to digital tools to receive an education online, we ensured that our students stayed connected with the culture of formal learning during school closures, enhanced their literacy and numeracy skills while at home and followed a sense of routine and discipline to manage the emotional impact of the pandemic.
/•
**ILM KA AANGAN TV SHOW** TEACHING QUALITY LESSONS TO CHILDREN ON TV
In April 2020, TCF made its first foray into TV-based edutainment in collaboration with Pakistan Television’s Tele-school and the Federal Ministry of Education.
The 45-minute long TV programme, _Ilm ka Aangan_ (‘The Learning Courtyard’), ran for 18 weeks and engaged children across Pakistan through theme-based videos, activities, storytelling sessions by renowned Pakistani actor Sania Saeed, physical exercise segments and more amid school closures.
## **Highlights**
The show was designed drawing on TCF's play-based early years curriculum.
It focused on basic literacy, numeracy and socio-emotional well-being.
**18 URDU STORIES** were narrated by Kahani Aunty, Sania Saeed.
## **6 MILLION+ VIEWERS**
tuned in every week across 4 national channels to watch the show.
**TCF-UK - Annual Report 2020 | 23TCF**
**ILM KA AANGAN MAGAZINE** MAKING GREAT LEARNING MATERIAL FOR CHILDREN
TCF began publishing an edutainment magazine, _Ilm Ka Aangan_ (‘The Learning Courtyard’), for primary and secondary school learners separately.
Each issue features a variety of fun exercises including maths quizzes, riddles, DIY activities, reading comprehension, stories and much more. Copies of the magazine were collected fortnightly by TCF students or parents from school campuses across our network. TCF is likely to continue offering this magazine to its students for the next two to three years.
## **Highlights**
Every issue of the _Ilm ka Aangan_ magazine is being reviewed and edited by Mr. Salim Mughal, Ex Editor-in-Chief of the famous Hamdard Naunehal magazine started for children in Pakistan in 1953.
## **182,000+**
copies of each issue are being printed in Urdu and Sindhi languages.
## **96+**
branches of 21 other school systems partnered with TCF to print the magazine for their students.
**TCF-UK - Annual Report 2020 | 25**
ILM UJALA
CONNECTING COMMUNITY
THROUGH TUTORING
*•
TCF launched small tutoring groups in its school communities across Pakistan to enable learning amid school closures.
Under the _Ilm Ujala_ (‘Educate to Illuminate’) initiative, we mobilised our teachers, alumni and volunteers, who identified a space in their communities and put together tutoring groups with guidance from TCF school principals. Students were instructed to adhere to social distancing recommendations and wear face masks.
Given the uncertainty of the virus, there is a possibility that authorities may reopen schools for a period of time and then decide to close them again temporarily. However, we foresee that our _Ilm Ujala_ volunteers will be able to resume their tuition classes if schools are ordered to close again.
## **Highlights**
**2,500+**
Volunteer tutors are now a part of the _Ilm Ujala_ programme.
There is a special focus on learning topics essential for grade progression.
A typical group consists of one tutor and
**5-7 STUDENTS**
**TCF-UK - Annual Report 2020 | 27**
## **WELCOMING OUR CHILDREN BACK TO SCHOOL**
## **Safe Reopening of Schools**
As we welcome our children back into their classrooms, we are ensuring that our operations are aligned with public health and safety guidelines on COVID-19 to protect our staff and students. We are reopening our schools in a phased manner based on guidelines in four key areas.
## **Social Distancing**
- Reducing the class size by 50%
- Discontinuing assemblies
- Keeping students 2 metres apart
- Limiting student interaction
- Holding in-class recess
- Closing school canteens and discouraging students from sharing food
## **Monitoring Health**
- Daily health checks
- Prompt action upon identification of students showing symptoms
## **Cleaning and Hygiene**
- Encouraging students to wash hands frequently
- Cleaning floors and surfaces regularly
- Deep cleaning of schools if needed
## **Educating Communities**
- Prioritising community engagement to address concerns
- Sharing clear messaging for COVID-19 prevention and control in schools
PRIORITISING
SOCIO-EMOTIONAL
WELL-BEING
The COVID-19 pandemic turned out to be much more than a health crisis. It disrupted social and economic activities and severely impacted the socio-emotional and financial well-being of millions across the globe. Lives of TCF principals, teachers, students and their parents have also been deeply impacted.
As we reopen our 1600+ schools across the country, we have committed ourselves to realign our priorities and ensure an adequate balance between academic learning and emotional well-being, whilst fostering a sense of safety, hope, compassion and belonging.
## **Students' Socio-emotional Well-being**
The beginning and end of each day is dedicated to open conversation and reflection.
Structured 40-minute periods have also been introduced throughout the week to improve students’ physical and mental well-being.
## **School-Community Relationship**
with parents, encouraging them to ensure continuity in their child’s learning.
##
to provide staff a collaborative space for social and emotional peer support, problem solving and discussions on self-care.
## **An Enabling Policy Environment**
matters and the burden of routine tasks has been reduced so they can focus on bridging the learning gap and on children’s well-being.
**TCF-UK - Annual Report 2020 | 31**
## **OTHER PROGRAMME HIGHLIGHTS**
While maintaining focus on its Education Programme, TCF is moving ahead with its community and alumni support initiatives and engaging with all stakeholders to help shape the education landscape in Pakistan.
## **Living the ‘Care and Growth’ values**
Last year, the HR Department formally introduced the Care and Growth Model to its school principals and other leaders within the organisation. This leadership model focuses on preparing people for success and posits that a leader through his/her genuine intent, care, fairness, humility, trust and respect can help people prosper and, in the process, can grow and realise one’s own full potential as well. Mr. Fakhir Shah, CEO, Schuitema, Pakistan, is leading this project for TCF and has been assisting with content, processes, and applications of this model. TCF intends to strengthen this theme and is working towards embedding it as part of its organisational culture.
## **Making progress as a knowledge-sharing organisation**
With 25 years of experience in content development and teacher training, TCF as part of its Strategy 2030, instated a team that can help market and offer its books and teacher training material developed in the last two decades to those outside the organisation. Now, more than 240+ low-cost private schools use TCF textbooks, teacher guides and workbooks in the quest to provide better learning opportunities and outcomes in classrooms. A teacher training programme was also piloted in four low-income areas on effective techniques in pedagogy to improve the quality of teaching and learning in classrooms beyond TCF schools. This initiative will be scaled up in 2020-21.
**32 | Keeping dreams alive**
## **Alumni making inroads into higher education**
100% of our alumni who enrol in undergraduate colleges are first-generation learners - the first in their family to go to college. Every year, almost half of TCF’s graduates who complete their Intermediate education make their way to higher education institutions in varied disciplines. This year, nearly 600+ students have been admitted, out of which 60% are girls. TCF, with support of its donors and university partners, provides assistance to its deserving students who are not in a position to continue their education because of financial constraints.
## **Spreading the light of literacy**
TCF’s Adult Literacy Programme, Aagahi, enables out-of-school girls and community women to read and write in Urdu, do basic Maths, and learn about health and hygiene. Over the past 15 years, 6,300+ Aagahi classes have been held across Pakistan, impacting the lives of 150,000+ women. In 2019-20, 11,000+ learners successfully learned to read and write. Supporters of this programme include - Shield Corporation Ltd., Bayer Pakistan Ltd., National Foods Limited, UNESCO, Mary M. Dansbury Trust, International Textiles Ltd., Mr. Sajjad Ebrahim, the family of Mr. Masood Sheikh, and various other philanthropic donors. Additionally, the ‘Aagahi for Factory Workers’ project was also launched this year, in partnership with Levi Strauss Foundation and Artistic Milliners, targeting 900+ adult learners.
## **Increasing access to clean water**
TCF’s Community Development team also manages our ‘Clean Water Initiative’ which involves installing, running and maintaining water filtration plants within TCF school premises to benefit the community. For the 2021-22 academic year, 29 clean water plants will be operational benefitting 35,000 men, women and children daily across Punjab, Sindh and Balochistan. A 3-year MoU has also been signed with The Water Foundation for the installation of more clean water plants in TCF schools.
## **Empowering women through vocational training**
Under the ‘Empowering Women through Skills Training and Micro-enterprise’ project, 180 girls from TCF school communities across Sindh, Punjab and Azad Jammu & Kashmir (AJK) received training in domestic tailoring and fashion design - the latter being offered in collaboration with Karvaan Crafts Foundation. Upon certification, 164 girls registered as apprentices to work for TCF and other customers. This year, these apprentices were able to earn an income by stitching more than 14,000 TCF school uniforms. TCF is also collaborating with Target International and Artistic Milliners for upcycling excess material to develop products, which the apprentices can stitch to earn an income. Supporters of this project include Trafigura Foundation, Mr. Sajjad Ebrahim, and TCF-USA (Washington DC Group, Seeds of Learning, and Sacramento Chapter).
**TCF-UK - Annual Report 2020 | 33**
**A TCF student's learning journey continues with support from a TCF alumna.**
“Noor Muhammad is a very diligent student so the school principal was quite surprised when he didn’t turn up for the tutoring sessions arranged by the school,” recalls Shahana Ali, a TCF alumna living in Ghulam Hussain Jhokio Village, located a few kilometers away from Karachi. “We live in the same neighbourhood so she asked me to check up on him”.
Shahana immediately visited Noor’s family to inquire about his absence. Upon meeting his mother, she learned that Noor’s elder brother had lost his job amid COVID-19 and his father had been very ill. Amid such circumstances, Noor had been sent to Gwadar, Balochistan, to work as a labourer with his uncle.
“Noor doesn’t have a smartphone or internet. How was he to attend online classes?” Noor’s mother had asked Shahana.
“After speaking to Noor’s mother, I immediately turned to my brother for help. He is a dish TV cable operator and has his own shop in the community. I convinced him to hire Noor as a helper so he could manage to earn a living while staying in the village. I also requested him to lend Noor his mobile during the class time so the boy could also continue his studies,” shares Shahana.
Gwadar. Not only did he learn how to install dish TV cable in peoples’ homes, but he was able to continue his studies. Noor missed a few classes in the beginning, but was soon able to catch up on the syllabus.
**Noor Muhammad Grade 10 | Ghulam Hussain Jokhio Village, Karachi**
## **A REVIEW OF TCF-UK ACTIVITIES**
The pandemic is an urgent call to renew our commitment to the children of Pakistan, ensuring that they have the opportunity to succeed at school and develop the knowledge, skills, attitudes and values that will allow them to contribute to society.
The Citizens Foundation (UK) was established in 2001 to help raise funds and awareness for TCF, Pakistan’s leading charity in the field of formal education for underprivileged children.
Over the last 20 years, we have been fortunate to have the support and commitment of our donors and supporters. We have also endeavoured to maintain the highest level of transparency and good governance. Our priority always is to minimise expenditure in the UK so we can maximise the funds we invest in our education programmes in Pakistan. To that end, none of our Trustees in the UK receive any compensation or out of pocket expense reimbursements from the charity.
In 2020, our focus was on navigating the devastating impacts of the COVID-19 pandemic whilst sustaining our charity and ensuring the long-term safety of our students, teachers, and communities in Pakistan. We reacted early to events and transitioned seamlessly to working remotely. We also cancelled our 2020 fundraising events programme and pivoted to virtual engagement via our digital channels, video conferencing platforms like Zoom and online peer-to-peer fundraising. At the same time, TCF Pakistan, in conjunction with their worldwide chapters including TCF-UK, successfully launched a COVID-19 Response Appeal to help fight the devastating impact of the crisis on our communities.
Our efforts paid off – we raised a record amount during Ramadan, for which we are greatly indebted to our donors. We are also delighted to have secured our largest grant yet – £400,000 over 3 years to support girls transition from Grade 10 to university and entrepreneurship thanks to the generous support of Sir Ernest Cassel Educational Trust. We are deeply grateful for their loyal support, which has enabled TCF's brightest female alumni to pursue further education - an opportunity they would otherwise not be able to afford.
A special thanks to our donors, volunteers and supporters who made all our success possible. We would not have been able to do this without you.
**36 | Keeping dreams alive**
## **Income**
|**Totals**|**Running costs**|**Building**|**Endowment**||
|---|---|---|---|---|
||**of schools**|**schools**|**fund**||
|£|£|£|£||
|1,391,294|1,323,554|60,240|7,500|Individuals, incl. gift aid|
||||-||
|59,679|59,679|-||Fundraising events|
||||-||
|35,966|35,966|-||Corporates|
||||-||
|862,622|862,622|-||Grant making charities|
|2,349,561|2,281,821|60,240|7,500||
|10,742|10,742|-|-|Investment income|
|2,360,303|2,292,563|60,240|7,500|2020 incoming resources|
|1,690,827|1,665,227|12,740|12,860|2019 incoming resources|
Total gift aid receivable for 2020 and included above was £156,002 (2019: £116,316).
In addition, when required, the TCF-UK team has assisted TCF in their dealings with international grantors.
## **Charitable Activities**
Breakdown of TCF-UK expenditure on charitable activities being grants during the year to TCF totalling £2,121,261 (2019: £1,347,382):
|**Total**
£|**Support**
£|**Build**
£|**Endowment**
£|2020 grants to TCF
2019 grants to TCF|
|---|---|---|---|---|
|2,121,261|2,053,521|60,240|7,500||
|1,347,382|1,321,782|12,740|12,860||
The 2020 support grants to TCF of £2,053,521 included grants towards schools built by TCF-UK donors and, where donors specifically requested this, to TCF's adoption of failed government schools programme (GSP). Our support grants paid the annual cost of educating about 22,000 students and contributed over 8.3% of TCF’s total expenditure on running its schools.
Since 2001 a total of 44 TCF schools have been built by TCF-UK donors, of which 16 now run afternoon shifts, for a total of 60 school units (46 primary and 14 secondary) at the start of the 2020 academic year.
**TCF-UK - Annual Report 2020 | 37**
## **HIGHLIGHTS OF TCF-UK ACTIVITIES**
**----- Start of picture text -----**
Ahsaan, TCF student in Muzaffarabad, reading at home with his elder sister.
**----- End of picture text -----**
## **TCF-UK Hosts its first Webinar “Learning in COVID-19 and Beyond”**
TCF-UK made its first foray into online events in April 2020, gathering a panel of education experts and entrepreneurs for the fascinating webinar “Learning in COVID-19 and Beyond”. The panel discussed the challenges and opportunities for education innovation in Pakistan amidst COVID-19. A special thanks to Kalsoom Lakhani, CEO & Founder at Invest2Innovate, for moderating the event, Annum Sadiq, Co-Founder at Edkasa, Haroon Yasin, Co-Founder at Orenda, and Nadia Naviwala, Senior Advisor at TCF, for their participation and insights.
## **Ali Rehman Khan’s Virtual Birthday Party**
In May, our supporters were invited to celebrate Ali Rehman Khan’s star-studded, virtual birthday celebration in support of TCF. The Pakistani Actor and TCF Goodwill Ambassador was joined by Marina Khan, Adnan Siddiqui, Hareem Farooq, Ayesha Omar, Faisal Kapadia and other incredible celebrity guests.
## **TCF-UK’s First Ever Virtual Concert: Keeping Hope Alive**
Our wonderful supporters, Salman Ahmed and Mehnaz Sayal, hosted a virtual Zoom Concert in aid of TCF-UK’s COVID-19 Response Appeal in May. The aptly titled ‘Keeping Hope Alive’ event was a truly uplifting evening of music, fun and laughter. A special thanks to Abbas Ali, Samir Sheikh, Hammad Khan and Nazia Zuberi Hassan for their outstanding performances.
## **Virtual Yoga**
During the month of Ramadan, Farah Wigmore-Sykes, TCF Supporter and talented Yoga Instructor, hosted weekly yoga classes in support of TCF’s COVID-19 Response Appeal. Providing helpful exercises to build strength and reduce stress, the classes quickly became the highlight of the week for TCF-UK supporters and staff alike.
## **TCF-UK Chapter Activities and Events**
## **This year, TCF-UK also welcomed THREE new Chapters!**
We truly could not have made it through 2020 without the support of our volunteer-led Chapters. In May, the TCF-UK South London Chapter became the first Chapter to host a virtual Quiz Night. A special thanks to our Chapter Leaders, Tahir Mughal and Farah Khan, for bringing their community together through a fabulous night of trivia and entertainment.
Following a life-changing visit to a TCF school in Pakistan, Hifsa Haroon-Iqbal and Dr Zafar Iqbal decided to establish the TCF-UK Staffordshire Chapter in 2020. The launch of the Chapter was marked by a Virtual Coffee Morning featuring TCF Executive Vice President Zia Akhtar-Abbas and News Anchor and TCF Goodwill Ambassador Sidra Iqbal. In September, the Staffordshire Chapter hosted a cricket tournament to help raise funds for a TCF classroom. For those of us who prefer cakes to cricket - Hifsa published the cookbook ‘Lunch ‘n’ Lockdown’ – a collection of delicious family recipes from around the world, with part of the proceeds going to TCF-UK.
**TCF-UK - Annual Report 2020 | 39**
In October 2020, TCF-UK welcomed its first Young Professionals Chapter: TCF YP North. Led by Amani Dosani, the group hosted their first event, a virtual quiz night, in October. One very lucky winner went away with a cricket jersey signed by the Pakistan Cricket Team.
The TCF-UK Yorkshire Chapter was set up by a group of supporters wishing to spread the word about TCF in the North of England. A special thanks to Raza Effendi, Faisal Khan and Sharaz ‘Ronnie’ Dutt for leading this effort. The Chapter hosted its first event in November 2020 – A Virtual Quiz Night hosted by Ambreen Pervez and comedian Tez Ilyas, whose witty repartee kept us thoroughly entertained throughout the evening.
## **TCF-UK Annual Golf Tournament at Brocket Hall**
TCF-UK hosted its first Annual Golf Tournament in September at the stunning Brocket Hall Golf Course. Many congratulations to our tournament winners and to all who participated, helping us raise over £20,000 - enough to educate 185 deserving students for the entire academic year. A very special thank you to Junaid Peracha and his family for helping us put this event together.
**Reporting and Presenting Pakistan: Mishal Husain in Conversation with Owen Bennett-Jones**
In November, TCF-UK was honoured to host “Reporting & Presenting Pakistan” featuring Owen Bennett-Jones, author, journalist and former BBC correspondent, and renowned journalist and news anchor, Mishal Husain. Tuning in from Pakistan, Owen presented his latest book ‘The Bhutto Dynasty: The Struggle of Power in Pakistan’, a fascinating and well-researched exploration into the Bhutto family’s legacy. We would like to thank TCF Supporter Salman Ahmed for being such a wonderful host, TCF Co-Founder Mushtaq Chhapra, Mishal Husain and Owen Bennett-Jones for their time and support. A special thanks to all our viewers who tuned in to ask questions.
## **Dreams, Empowerment and Self-Belief**
In November, TCF hosted its first all-female panel event “Dreams, Empowerment & Self-Belief”. The event featured an incredible panel of women trailblazers: Mahira Khan, renowned Actor, Sabrina Suddiqui, Political Reporter and Riffi Khan, TV Producer and Director, and was hosted by Sidra Iqbal, TV Anchor and TCF Global Goodwill Ambassador. This uplifting event explored the inspiring journey of these women, attracting over 24,000 viewers from around the world. Importantly, the event addressed the importance of educating women and highlighted TCF’s efforts to prevent vulnerable girls from dropping out of school amidst the COVID-19 crisis.
**40 | Keeping dreams alive**
## **GLOBAL AWARDS**
## **The TCF model and its impact has been recognised globally.**
**----- Start of picture text -----**
UNESCO Prize Qatar Foundation Clinton Global
for Literacy, 2017 Wise Award Initiative
World Economic The Ramon Schwab Foundation
Forum Magsaysay Award Social Entrepreneur of the Year Award
Skoll Foundation Award UNGEI - United Nations Girls’ Best Corporate and Sustainability
for Social Entrepreneurship Education Initiative Report Awards
MAP Corporate SAFA Award for Best Presented PCP Certification
Excellence Awards Annual Report
Improved Ranking
from 9 to 9+
**----- End of picture text -----**
**TCF-UK - Annual Report 2020 | 41**
## **GET INVOLVED**
Whether you are an individual, a university society, or a community group, there are many ways you can get involved to help raise awareness of our cause.
You can take on sporting challenges like marathons, mountain treks; volunteer at TCF events; organise your own fundraising events, big or small, such as an Iftaar party, musical evening, film screening; or host an information evening with friends and family.
The list is endless, and it all depends on how much time you can give and how much you want to help.
Regardless, your support is instrumental in our fight to build a brighter future for children in Pakistan. Together, we can give every child the chance to learn and develop to their full potential.
## **CREATE LASTING CHANGE**
**----- Start of picture text -----**
Educate-a-Child Educate-a-Child
KG to Matric
£9 (Monthly)
£1,143
£108 (Yearly)
(One Time)
Support-a-School Build-a-School [1]
Unit for a Year
£140,000
(Build Cost – One Time)
£1,333 (Monthly)
+
£16,000 (Yearly)
£85,000
(5–Year Support)
Support Adult
Literacy Learner
£15
(One Time)
**----- End of picture text -----**
**Your gift of education for the world's most vulnerable individuals will give them the power to dream of a better future.**
**Sponsor-a-Classroom for a Year**
**£212 (Monthly) £2,538 (Yearly)**
**----- Start of picture text -----**
Alumni
Scholarships [2]
£90 Intermediate Student (One Time)
£7,000 for Tier A University Student (One Time)
£3,000 for Tier B University Student (One Time)
**----- End of picture text -----**
1. Costs are for build cycle of 2021-2022 and are subject to revision. Rates are calculated on average construction costs and may vary for different locations. A school construction project can only be taken up with the provision of school support for a minimum of five years (included in the figures cited above). Please note £85,000 school support figure applies if the amount is paid upfront. Payment made in arrears may be subject to exchange rate fluctuations. All school construction projects in earthquake zones will take into account additional costs for special earthquake resistant architecture.
2. Cost of Alumni Scholarships varies from programme to programme. Intermediate refers to Grade 11 and 12. Tier A refers to more expensive programmes, such as sciences and medicine, whilst Tier B denotes less expensive academic programmes.
**TCF-UK - Annual Report 2020 | 43**
## **EASY WAYS TO GIVE**
**TCF believes education is the best investment in peace, prosperity and our shared future. Here are the ways you can make a meaningful contribution through your Zakat, Sadaqah or general donations to our work.**
## **Donate Online**
The simplest way to support TCF-UK is to make a one-time or a recurring gift online at **www.tcf-uk.org** . A monthly contribution will support our work year-round.
## **Send a Cheque**
You can send a donation by cheque, made payable to The Citizens Foundation (UK). Please mail the cheque to **The Citizens Foundation (UK), 48 Charlotte Street, London W1T 2NS.**
## **Make a Bank Transfer**
You can donate by making a direct transfer to our bank account. **Account name: The Citizens Foundation (UK), Sort Code: 30-84-21, Account no.: 18310360** . If you wish to receive a receipt acknowledging your contribution, please email us at **info@tcf-uk.org.**
## **Raise Funds Online**
Raise invaluable funds for TCF-UK by creating your own fundraising campaign on **fundraise.tcfglobal.org** or on platforms like Facebook, JustGiving, GoFundMe. Please email us at **info@tcf-uk.org** if you need further guidance.
## **Match your Donations through your Employer**
Many companies match donations that their employees make to charity. You can double your donation by taking advantage of your company’s matching gift scheme.
## **Leaving a Lasting Legacy**
Leave a gift for TCF-UK in your will and make a promise to change lives for generations to come. For more information, please contact us at **info@tcf-uk.org** or call our office at **020 3585 3011.**
**44 | Keeping dreams alive**
Aug 17, 2020
## **رﺳﻮﻟﮧ اﻟ���ﻢﻧﺤﻤﺪە و ﻧﺼﻠﯽ ﻋﻠﯽ**
## **Shariah Advisor's Report**
_For the year ended June 2020_
## **Introduction:**
TCF is a professionally managed, non-profit and philanthropic organization set up in 1995 by a group of citizens concerned with the dismal state of education in Pakistan. It is now one of Pakistan's leading organizations in the field of formal education. The vision of TCF is to remove barriers of class and privilege and to make the citizens of Pakistan agents of positive change. TCF believe that access to basic education is the right of each individual and not a privilege. Apart from following the regular curriculum, TCF focus on the character building of students to equip them with high moral values and confidence. The organization supports the education of less-privileged children. Under the administration of TCF hundreds of schools spread throughout Pakistan are providing education to thousands of children.
## **Method of utilization of Zakat:**
The organization’s financial needs are being covered by zakat and donations that Pakistani individuals and corporate throughout the world contribute towards. Zakat received by TCF is spent for the educational expenses of needy students. According to Shariah, Zakat can be used on the educational expenses of needy students.
## **Shariah Ruling:**
It is confirmed that The Citizens Foundation collects and spends Zakat fund in accordance with the instructions of Shariah. It is also confirmed that whosoever will give Zakat to this Foundation; their Zakat will be paid as per Shariah point of view.
May Allah grant the management of The Citizens Foundation best reward for their services, and may give in their mission more blessings and sincerity. Aameen
______________________ ______________________ **Mufti Muhammad Ibrahim Essa Mufti Ubaid ur Rahman Zubairi** _Chief Executive Officer Director_
Alhamd Shariah Advisory Services (Pvt.) Limited Alhamd Shariah Advisory Services (Pvt.) Limited
+92 322 2671867 | www.alhamdshariahadvisory.com | info@alhamdshariahadvisory.com
**TCF-UK - Annual Report 2020 | 45**
## **WHO WE ARE**
**The work that we do would not be possible without the hard work, commitment and dedication of TCF-UK’s volunteers, who have worked tirelessly this past year to make our success possible.**
## **Volunteers**
Awais Khan Zara Humayun Fawwaz Janjua Mariam Akhtar Anjum Hussain Hisaam Mirza Farah Wigmore-Sykes Zubair Farid Naser Ali Riffi Khan Salman & Mehnaz Ahmed Mustafa Sherwani Zain Ghani Raheela Janjua Faisal Raza Bhojani Ridaa Mughal Sharaz Dutt Faisal Khan
## **UK Chapter Leads**
**Cardiff** Samina Khan
**High Wycombe** Huma Nawaz
**North London** Noreen Kazim-Amir
**South London** Farah Khan & Tahir Mughal
**Staffordshire** Hifsa Haroon-Iqbal & Zafar Iqbal
**Yorkshire** Raza Effendi
**Young Professionals - North** Amani Dosani
## **TCF-UK Team**
**Sania Sufi** Chief Executive Officer
**Agata Sokolowska Sarika Gadher** Finance Manager Business Development Associate
**Sooriya de Soysa**
Fundraising Officer – Grants & Major Donors
**Zaynab Hasan**
Fundraising Executive – Trusts & Foundations
**46 | Keeping dreams alive**
## **Advisory Committee**
## **Nouman Hashmi**
Supporter and donor. Fellow Member of the Association of Chartered Certified Accountants. Founder and CEO of a business consultancy practice with extensive experience of financial management, business strategy, compliance, risk management and regulatory work.
## **Trustees**
## **Atif Ali**
Atif first started volunteering for TCF-UK in 2006, having established CVBoosters with some friends as a fundraising venture for the cause. He now works as a research analyst in the City.
## **Imtiaz Dossa**
Imtiaz has been a supporter of TCF since its inception in Pakistan in 1995 and has supported female education since before then. In addition to having run a trading company, Imtiaz served as a Trustee for a major international charity until 2010 and is a Chartered Accountant.
## **Tariq Hussain**
Tariq has been associated with TCF since 1998, starting off as a donor. A few years later he became part of the team that helped TCF-UK register as a charity in 2001. Tariq is an investment banker and Chartered Accountant by profession and holds an MBA from IMD Business School, Lausanne.
## **Bilal Raja**
Bilal has been a supporter of TCF for over twenty years, and has served as Trustee in the UK since 2008. Bilal is a former fund manager and holds a Masters in Finance from London Business School. He is also a qualified Chartered Financial Analyst.
**TCF-UK - Annual Report 2020 | 47**
**A young girl at the risk of dropping out of school is saved by a concerned principal.**
"The coronavirus crisis turned Marium's life upside down," shares Ms. Sania Javed, principal at the TCF school where 13-year-old Marium is a student. Once the lockdown was enforced, her father lost his daily earnings as a labourer, and her mother suffered a paralysis attack. During this time, a marriage proposal came in for Marium's elder sister, who was only 15 at the time. The family accepted it and when her sister left suddenly, all responsibilities landed onto Marium's shoulders. Every morning she has to collect fresh water for her family by taking a one-hour trek down the steep hills, cook and clean, as well as look after her mother, who is now confined to a charpoy (woven bed).
When schools reopened in September, Marium's father could not afford to send her back. Ms. Sania Javed spent hours counselling the parents to let their daughter continue her education. It was only when she offered them flexibility in school hours that they finally agreed. For the first time in over 6 months, Marium returned to her classroom.
**Marium Bibi Class 4, Chamankotli, Azad Kashmir**
FINANCIAL
STATEMENTS
f I
## **Company Information**
## **DIRECTORS:**
T R Hussain B Raja M A Ali I S Dossa
**SECRETARY:**
T R Hussain
**REGISTERED OFFICE:**
**REGISTERED NUMBER:**
**CHARITY NUMBER: AUDITORS:**
48 Charlotte Street, London W1T 2NS 4075959 (England & Wales) 1087864 (England & Wales)
Haines Watts Chartered Accountants Statutory Auditors Aissela, 46 High Street, Esher, Surrey, KT10 9QY
**BANKERS:**
Lloyds Bank plc 70-71 Cheapside London EC2V 6EN
HSBC Bank plc 95 Grace Church Street London EC3V 0DQ
**52 | Keeping dreams alive**
## **Trustees Report**
**The Trustees (who are directors for the purposes of the Companies Act 2006) are pleased to present their annual trustees' report together with the financial statements of the charity for the year ended 31 December 2020 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.**
**The financial statements comply with the Charities Act 2011, the Companies Act 2006, 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 published in October 2019 (effective 1 January 2019).**
## **CONSTITUTION, POLICIES AND OBJECTIVES**
**The Citizens Foundation (UK) (TCF-UK) is constituted as a company (No: 4075959) limited by guarantee incorporated in London (England and Wales) on 21 September 2000, and registered as a charity (No: 1087864) in England and Wales on 6 August 2001.**
**TCF-UK's principal objective is to raise awareness of and funds for The Citizens Foundation (TCF), Pakistan’s leading charity in the field of formal education for underprivileged children.**
**There have been no changes in the objectives since the last Annual Report.**
**In earlier pages of this Annual Report, the Trustees have provided a great deal of additional detail and analysis of the income and expenditure of the Charity as well as comprehensive information on TCF: its work, ethos, current status and future plans and aspirations.**
**The Trustees have considered the Charity Commission's guidance on public benefit and believe that our work and purposes clearly meet the public benefit requirement.**
## **FUTURE PLANS**
**TCF-UK is committed to support the long-term, sustained growth of TCF. Our priority in 2021, as in 2020, continues to be to build a passionate, committed and diversified donor-base to provide a secure and sustainable foundation for TCF. TCF's schools, including the 353 failing government schools it has adopted, nurture and produce tolerant, economically self-reliant, self-confident and civic-minded citizens capable of critical thinking.**
## **MEMBERSHIP**
**TCF-UK is currently not a member of any professional body or umbrella organisation, other than TCF. The Trustees are satisfied with the results and activities of the Company for the year and do not anticipate any significant changes in the forthcoming year.**
## **RESERVES POLICY**
||**2020**|**2019**|
|---|---|---|
||**£**|**£**|
|**Restricted funds**|||
|**Investment (Note 5)**|**392,521**|**367,741**|
|**Other restricted funds**|**0**|**19,086**|
|**Restricted funds**|**392,521**|**386,827**|
|**Unrestricted funds**|**191,182**|**158,640**|
|**Accumulated funds**|**583,703**|**545,467**|
**TCF-UK - Annual Report 2020 | 53**
## Trustees Report (continuation)
**Restricted funds - see notes 3, 5, 11, 12 & 13 for more details:**
**Investments are made up of:**
**Share capital of TCF-UK Endowment Ltd. £1 (2019: £1); and**
**Endowment fund investment £392,520 (2019: £367,740): these shares - their income and any proceeds from their sale, are restricted by the donor solely to defray the costs of running TCF schools built by that donor.**
**Unrestricted funds: see notes 12 & 13:**
**The charity aims to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately nine-month’s on-going expenditure on the governance, management and administration of the charity. The Trustees believe this should provide sufficient funds to enable the charity to respond to unexpected contingencies.**
**At 31 December 2020 total unrestricted retained funds were £191,182 (2019: £158,640) which is broadly in accordance with the above basis.**
## **RISK MANAGEMENT**
**As with all charities, TCF-UK faces diverse risks, some of which are outside trustees’ control and some whose impact trustees can ameliorate.**
**Major risk mitigation by trustees includes monitoring on an on-going basis:**
- **That TCF’s work is aligned with TCF-UK’s objectives. TCF is in essence TCF-UK’s sole beneficiary;**
- **Our funding base, with a particular focus on our exposure to a potential curtailment by large donors. The diversification of fundraising sources is an active trustee priority to ensure the charity does not become dependent to any one source of income.**
**The Trustees have assessed the major risks to which TCF-UK is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems are in place to mitigate their exposure to major risks.**
## **COVID-19**
**The coronavirus pandemic is a global crisis more widespread and devastating than any we have witnessed before. It has fundamentally altered the way our charity operates.**
**The charity reacted early to events. With our business continuity and risk mitigation plans in place by February, the transition to working remotely created minimal disruption when we went into lockdown on 23[rd] March 2020. We cancelled our 2020 fundraising events programme and pivoted to virtual engagement via Zoom and peer-to-peer fundraising. These cost very little and have enjoyed incredible buy-in from our donors and supporters.**
**Meanwhile, TCF Pakistan in conjunction with their worldwide chapters including TCF-UK successfully launched their TCF education + COVID19 appeal. Whilst schools were shut, they implemented a distance learning programme, which included a highly acclaimed, Government-backed TV-based teaching programme broadcast across Pakistan and an edutainment magazine which was published and distributed bi-weekly (coming from deprived communities, our students do not have internet access). TCF is one of the only low cost private school networks that designed such a programme to ensure sustained learning during prolonged school closures.**
**54 | Keeping dreams alive**
## Trustees Report (continuation)
**TCF schools reopened at the time this report was written (Feb 2021). TCF has followed all government guidelines and health and safety protocols to ensure our schools offer a safe environment for our teachers and our faculty. We are also pleased to report that TCF schools are operating at maximum capacity, an incredible achievement made possible by the outreach efforts carried out by our teachers and principals on the ground. All of these have significantly mitigated the financial and operational risks and impact for us.**
**We will of course continue to monitor the situation closely.**
## **FUNDRAISING STANDARDS INFORMATION**
**Raising funds and awareness of the charity is carried out by employees and trustees. The charity does not use professional fundraisers. Trustees and staff aim to ensure that all our fundraising remains respectful, open, honest and accountable to the public. The charity complies with the Financial Regulator’s Code of Fundraising Practice. Trustees have not received any complaints in respect of our fundraising activities.**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
**All the Trustees participate in the management of the charity. Existing Trustees appoint new trustees after a satisfactory induction process. The Trustees rely on the excellent guidance for new and existing trustees published by the Charity Commission.**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
**The Trustees (who are also directors of The Citizens Foundation (UK) for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).**
**Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:**
- **select suitable accounting policies and then apply them consistently;**
- **observe the methods and principles in the Charities SORP 2019 (FRS 102);**
- **make judgements and estimates that are reasonable and prudent;**
- **state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;**
- **prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.**
**The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.**
**TCF-UK - Annual Report 2020 | 55**
## Trustees Report (continuation)
**In so far as the Trustees are aware:**
- **there is no relevant audit information of which the charitable company’s auditor is unaware; and**
- **the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.**
## **AUDITORS**
**TCF-UK’s Financial Statements are subject to a statutory audit. This has been completed by Haines Watts.**
**The report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.**
## **Signed on behalf of the Board:**
**T R Hussain** 11 November 2021
**56 | Keeping dreams alive**
## **Independent Auditor’s Report**
to the Members of The Citizens Foundation (UK) Limited (by guarantee)
## **Opinion**
**We have audited the financial statements of The Citizens Foundation (UK) (the ‘charitable company’) for the year ended 31 December 2020 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).**
**In our opinion the financial statements:**
- **give a true and fair view of the state of the charitable company’s affairs as at 31 December 20** 1920 **, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;**
- **have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and**
- **have been prepared in accordance with the requirements of the Companies Act 2006.**
## **Basis for opinion**
**We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.**
## **Conclusions relating to going concern**
**We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:**
- **the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or**
- **the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.**
**However, not all future events or conditions can be predicted. The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the charity’s activities, income and the wider economy. The Trustees’ view on the impact of COVID-19 is disclosed on page 54.**
## **Other information**
**The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.**
**In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.**
**We have nothing to report in this regard.**
**TCF-UK - Annual Report 2020 | 57**
## Independent Auditor’s Report (continuation)
## **Matters on which we are required to report by exception**
**We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:**
- **the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or**
- **the charitable company has not kept adequate accounting records; or**
- **the financial statements are not in agreement with the accounting records and returns; or**
- **we have not received all the information and explanations we require for our audit.**
## **Responsibilities of trustees**
**As explained more fully in the trustees’ responsibilities statement set out on page 55, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.**
**In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.**
## **Auditor’s responsibilities for the audit of the financial statements**
**We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.**
**Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in which it operates, and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud. We discussed with the trustees the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.**
**During the audit we focused on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Charities Act 2011. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.**
**Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.**
**Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.**
**58 | Keeping dreams alive**
## Independent Auditor’s Report (continuation)
**A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.**
## **Use of our report**
**This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.**
**Jane Wills FCA MA Senior Statutory Auditor**
**For and behalf of**
**Haines Watts Chartered Accountants Statutory Auditors Aissela 46 High Street Esher Surrey KT10 9QY**
## 17 November 2021
**Haines Watts Chartered Accountants is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.**
**TCF-UK - Annual Report 2020 | 59**
## **Statement of Financial Activities**
(including income and expenditure account)
||||Unrestricted|Unrestricted|Restricted|2020|Unrestricted|Restricted|2019|
|---|---|---|---|---|---|---|---|---|---|
|||Notes||Funds|Funds|Total Funds|Funds|Funds|Total Funds|
|||||£|£|£|£|£|£|
|**Income**||||||||||
|**Donations, Grants & Endowments**||1 & 10||870,156|1,419,726|2,289,882|561,096|901,157|1,462,253|
|**Other Trading Activities (Incl. Fundraising Events)**||1
||59,679|0|59,679|126,917|69,412|196,328|
|**Income from Investments**||1||266|10,476|10,742|404|10,392|10,796|
|**Total Income & Endowments**||||930,101|1,430,202|2,360,303|688,416|980,961|1,669,377|
|**Expenditure**||||||||||
|**Cost of Raising Funds (Incl. Fundraising Events)**|1, 2, 8 &
||9|219,406|-|219,406|299,547|-|299,547|
|**Expenditure on Charitable Activities**||1||678,153|1,449,288|2,127,440|360,771|1,014,025|1,374,796|
|**Total Expenditure**||||897,559|1,449,288|2,346,847|660,317|1,014,025|1,674,342|
|**Net Gains/(Losses) on Investments**||3 & 5||-|24,780|24,780|-|6,960|6,960|
|**Net Income/Expenditure &**||||32,542|5,694|38,236|28,099|(26,104)|1,995|
|**Net Movement in Funds For The Year**||||||||||
|**Reconciliation of Funds**||||||||||
|**Total Funds Brought Forward**||||158,640|386,827|545,467|109,091|391,331|500,422|
|**Total Funds Carried Forward**||3 & 12||191,182|392,521|583,703|137,190|365,227|502,417|
**60 | Keeping dreams alive**
## **Balance Sheet**
as at 31 December 2020
||||2020||2019|
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|**Fixed Assets**||||||
|**Tangible Assets**|4|1,616||1,113||
|**Investments**|3, 5, 11, & 13|392,521||367,741||
||||394,137||368,854|
|**Current Assets**||||||
|**Cash at Bank & in Hand**|12|180,935||172,723||
|**Debtors**|6 & 13|17,568||13,963||
|||198,503||186,686||
|**CREDITORS: Amounts falling due within one year.**|7 & 13|(8,937)||(10,073)||
|**Net Current Assets**|||189,566||176,614|
|**Net Assets/Liabilities**|||583,703||545,467|
|**Represented By:**||||||
|**Accumulated Funds**||||||
|**Unrestricted Funds**|12 & 13||191,182||158,640|
|**Restricted Funds**|3, 12 & 13||392,521||386,827|
|**Total Charity Funds**|||583,703||545,467|
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Signed on behalf of the Board.
**T R Hussain** Director
**I S Dossa** Director
**TCF-UK - Annual Report 2020 | 61**
##
|||Unrestricted|Restricted|2020|2019|
|---|---|---|---|---|---|
|**Cash Flows from Operating Activities:**||Funds|Funds|£|£|
|**Net Cash Provided by (Used in) Operating Activities**|Note A|28,331|(29,562)|(1,231)|37,031|
|**Cash Flows from Investing Activities:**||||||
|**Dividends from Investments**||-|10,476|10,476|10,392|
|**Purchase of Property, Plant & Equipment**||(1,300)|-
|(1,300)|(1,808)|
|**Bank Interest Received**||266|-|266|404|
|**Net Cash Provided By (Used in) Investing Activities**||(1,034)|10,476|9,442|8,987|
|**Cash Flows from Financing Activities:**||||||
|**Receipt of Endowment**||-|-|-|-|
|**Net Cash Provided by (Used in) Financing Activities**||-|-|-|-|
|**Change in Cash & Cash Equivalents in the Reporting Period**|Notes B & C|27,297|(19,086)|8,211|46,018|
|**Cash & Cash Equivalents at the Beginning of the Reporting Period**|Notes B & C|172,723||172,723|126,704|
|**Cash & Cash Equivalents at the End of the Reporting Period**|Notes B & C|200,020|(19,086)|180,934|172,723|
|Note A: Reconciliation of net movement in funds to||||||
|net cash flow from operating activities.||Unrestricted|Restricted|2020|2019|
|||Funds|Funds|£|£|
|**Net Movement in Funds for the Reporting Period**||||||
|**(As per the Statement of Financial Activities)**||32,542|5,694|38,236|45,045|
|**Adjustments for:**||||||
|**Depreciation Charges**||795|-|795|1,150|
|**Loss/(Gain) on Investment**||-|(24,780)|(24,780)|(6,960)|
|**Dividends Received Included in Investing Activities**||-|(10,476)|(10,476)|(10,392)|
|**Interest Received Included in Investing Activities**||(266)|-|(266)|(404)|
|**(Increase)/Decrease in Debtors**||(3,605)|-|(3,605)|8,265|
|**Increase/(Decrease) in Creditors**||(1,135)|-|(1,135)|327|
|**Net Cash Provided by (Used in) Operating Activities**||28,331|(29,562)|(1,231)|37,031|
|||||2020|2019|
|**Note B: Analysis of Cash & Cash Equivalents**||||£|£|
|**Cash in Hand**||180,935|-|180,935|172,723|
|**Notice Deposits (Less Than 30 Days)**||-|-|-|-|
|**Overdraft Facility Repayable on Demand**||-|-|-|-|
||||||172,723|
|**Total Cash & Cash Equivalents**||180,935|-|180,935|172,723|
|**Note C: Analysis of Changes in Net Debt**||||||
|**Cash & Cash Equivalents at the Beginning of the Reporting Period**||172,723|-|172,723|126,704|
|**Change in Cash & Cash Equivalents in the Reporting Period**||27,297|(19,086)|8,211|46,018|
|**Cash & Cash Equivalents at the End of the Reporting Period**||200,020|(19,086)|180,934|172,723|
**62 | Keeping dreams alive**
## **Notes to the Financial Statements**
## **1. ACCOUNTING POLICIES**
- Basis of preparation of Financial Statements:
The financial statements have been prepared in accordance with the 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Citizens Foundation (UK) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Statutory Information**
The Citizens Foundation (UK) is a private company, limited by guarantee, registered in England and Wales. The company’s registered number and registered office address can be found on the company information page. The members of the company are the Trustees (Directors) named on the company information page. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.
## **Fund Accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be used solely for a particular purpose, for example to build or support the running costs of a nominated school or other defined educational purpose.
## **Income Recognition Policies**
Income is recognised and included in the accounts when all of the following criteria are met:
• The Charity has entitlement to the funds;
- Any performance conditions have been met;
- There is sufficient certainty that the receipt of the income is considered probable; and
- The amount can be measured reliably.
## **Gift Aid:**
Income includes gift aid outstanding and receivable from HMRC at the year end.
## **Donated Services:**
The charity benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with accounting standards, the economic contribution of general volunteers is not measured in the accounts.
## **Donated Shares:**
Donated shares are initially recognised at the share price on the date of transfer to the charity. They are subsequently recognised at fair value at the balance sheet date, as detailed in the Fixed Asset Investments accounting policy in Note (1) below.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following headings:
- Cost of raising funds - £219,406 (2019: £299,546) includes:
- £ 1,717 of expenditure on fundraising events (2019: £55,068)
- £171,602 of employment costs (2019: £189,623) - see Note 8
- £ 30,073 of rental expenditure (2019: £26,986) – see Note 9
- £ 4,121 of marketing expenditure (2019: £3,263)
- £ 11,893 of other expenditure (2019: £24,606)
**TCF-UK - Annual Report 2020 | 63**
## Notes to the Financial Statements (continuation)
## • Expenditure on Charitable activities £2,127,440 (2019: £1,353,196) is comprised of:
- £2,121,260 of school support, build and endowment grants to TCF, net of bank charges (2019: £1,347,382); - £6,180 statutory audit fee (2019: £5,814)
## **Leasing Commitments**
The rental payments under operating leases are recognised on a straight-line basis over the lease term.
## **Tangible Fixed Assets**
All assets costing under £500 are capitalised in the year of purchase, but are written down to a value of £1. Assets costing more than £500 are capitalised and are depreciated at 33% on the reducing balance basis.
## **Fixed Asset Investments**
Fixed asset investments consist of:
- Equity investment in group undertaking: this relates to a wholly owned subsidiary. The investment is subsequently measured at cost less impairment. Consolidated accounts have not been prepared as there have been no transactions in the wholly owned subsidiary during the period from incorporation to 31 December 2020. Please refer to note 13 for more detail.
- Listed investment: Investments are valued at their fair value measured using the share price at the balance sheet date.
## **Debtors**
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
## **Creditors**
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Pension Costs and other Post-Retirement Benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Going Concern**
The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Trustees have tested their cash flow analysis to take into account the impact on the charity of possible scenarios brought on by the impact of COVID-19, alongside the measures that they have taken to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
## **Financial Instruments**
Financial assets measured at fair value through net income/expenditure comprise of listed investments. Fair value is measured using the share price at the balance sheet date. See details of carrying amount and net gain from investment in note 5.
## **Key Source of Estimation, Uncertainty and Judgement**
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of asset and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of income and expenses during the reporting period.
**64 | Keeping dreams alive**
## Notes to the Financial Statements (continuation)
There is estimation uncertainty in calculating depreciation. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains risk that the policy does not match the useful life of the assets.
## **2. TRUSTEES EXPENSES & REMUNERATION**
During the year none of the Trustees received any remuneration, benefits in kind or expenses.
**3. RESTRICTED FUNDS**
Restricted funds of £392,521 on the Balance Sheet at 31 December 2020 were made up of:
- £1 being the share capital of TCF-UK Endowment Ltd., a wholly owned subsidiary of the Charity. Notes 5 & 11 provide full details of this.
- £392,520 being the value at 31 December 2020 of quoted shares gifted in 2015 to the Charity from a donor for an endowment fund. The value of the shares when gifted was £353,100. During the year the value of the shares had increased by £24,780, from £367,740 at 31 December 2019.
The shares continue to be held by the Charity. The dividend income in 2020 has been applied towards the support costs of TCF schools built by that donor. Future dividend income and, potentially, any gains in the value of these shares, shall only be applied towards the support costs of existing and future schools built by that donor. The yearend value was based on fair value being the closing price on the London Stock Exchange on 31 December 2020 £392,520 (2019: £367,740).
## **4. TANGIBLE FIXED ASSETS**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Office equipment - 33% on the reducing balance basis
||Office Equipment|
|---|---|
||£|
|**Cost**||
|**At 01 January 2020**|13,511|
|**Additions in the year**|1,300|
|**At 31 December 2020**|14,811|
|**Depreciation**||
|**At 01 January 2020**|12,398|
|**Charge for year**|795|
|**At 31 December 2020**|13,194|
|**Net Book Value**||
|**At 31 December 2020**|1,616|
|**At 31 December 2019**|1,113|
**TCF-UK - Annual Report 2020 | 65**
## Notes to the Financial Statements (continuation)
|**5.**
**6.**
**7.**
**8.**|**INVESTMENTS**
1
-
-
-
Equity Investment
in Group Undertaking
£
**Cost or Valuation**
**At 01 January 2020**
**Additions**
**Disposals**
**Revaluations**
Listed
Investments
£
367,740
-
-
24,780
367,741
-
-
24,780
Total
Investments
£|
|---|---|
||1
**At 31 December 2020**
392,520
392,521|
||**Carrying Amount**|
||1
**At 31 December 2020**
392,520
392,521|
||1
**At 31 December 2019**
367,740
367,741|
||**DEBTORS:**Amounts falling due within one year
2019
£
2020
£|
||13,963
**Other Debtors**
17,568|
||**CREDITORS:**Amounts falling due within one year
10,073
**Accruals**
8,937
2020
£
2019
£|
||10,073
**Total**
8,937|
||**WAGES**
**Salaries**
**Social Security Costs**
**Pension Contributions**
162,652
5,526
3,424
2020
£
172,510
13,655
3,458
2019
£|
||**Total**
171,602
189,623|
||**Average Number of Employees**
5
5|
No employee was paid more than £60,000 (2019: 0)
During the year, the charity received donations of £100,000 specified by the donor to defray the charity’s salaries expenditure (2019: £50,000).
**66 | Keeping dreams alive**
## Notes to the Financial Statements (continuation)
## **9. OPERATING LEASES**
|Total future minimum lease payments under non-cancellable operating leases|||
|---|---|---|
|are due in each of the following periods:|2020|2019|
||£|£|
|**Expiring: Within one year (12 months lease)**
**Later than one year and not later than fve years**|16,764
-|4,498
-|
||16,764|4,498|
The total operating lease expenditure included in the Statement of Financial Activities is £30,073 (2019: £26,986).
## **10. RELATED PARTY TRANSACTIONS**
As in previous years, all the Trustees have made restricted and unrestricted donations to the Charity, the total of these donations in 2020 being £128,728 which of £5,803 were unrestricted and £122,925 restricted including £100,000 towards UK Staff salaries (2019: total £82,365 which of 11,665 were unrestricted and £70,700 restricted including £50,000 towards UK Staff salaries ). None of the restricted donations require the Charity to alter significantly the nature of its existing activities. As in previous years, there were no payments made to any trustee and no other related party transactions
## **11. TCF-UK ENDOWMENT LTD– company number. 11705468 (the “Endowment Subsidiary”)**
On 30 November 2018, the trustees incorporated the Endowment Subsidiary as a wholly owned subsidiary of TCF-UK. The purpose of the Endowment Subsidiary is to receive and hold within its donations of income-generating trading assets such as residential property that could potentially be gifted in specie to TCF-UK. The Endowment Subsidiary was set up with a share capital of £1 and its three directors are also directors of TCF-UK. The Endowment Subsidiary has been dormant from incorporation to date with no bank account, no income or expenditure and no transactions other than its £1 share capital. The Endowment Subsidiary has therefore not been consolidated in the accounts of The Citizens Foundation (UK). The investment of £1 has been recorded in the accounts as per note 5.
## **12. ANALYSIS OF MOVEMENT OF UNRESTRICTED AND RESTRICTED FUNDS**
||Balance|||Funds|
|---|---|---|---|---|
||1 January 2020|Income|Expenditure|31 December 2020|
||£|£|£|£|
|**Unrestricted Funds**|158,640|930,101|897,559|191,182|
|**Restricted Funds**|||||
|**- Endowment Subsidiary**|1|0|0|1|
|**- Endowment Fund**|||||
|**- Received**|360,780|10,476|10,476|360,780|
|**- Net Gain/(Loss) on Investment**|6,960|24,780|-|31,740|
|**- Endowment Fund**|367,740|35,256|10,476|392,520|
|**- Other Restricted Funds**|19,086|1,419,726|1,438,812|-|
|**Restricted Funds**|386,827|1,454,982|1,449,288|392,521|
**TCF-UK - Annual Report 2020 | 67**
## Notes to the Financial Statements (continuation)
||Balance|||Funds|
|---|---|---|---|---|
||1 January 2019|Income|Expenditure|31 December 2019|
||£|£|£|£
|
|**Unrestricted Funds**|109,091|688,416|660,317|137,190|
|**Restricted Funds**|||||
|**- Endowment Subsidiary**|1|0|0|1|
|**- Endowment Fund**|||||
|**- Received**|376,860|10,392|10,392|376,860|
|**- Net Gain on Investment**|(16,080)|6,960|-|(9,120)|
|**- Endowment Fund**|360,780|17,352|10,392|367,740|
|**- Other Restricted Funds**|30,550|970,569|1,003,633|(2,514)|
|**Restricted Funds**|391,331|987,921|1,014,025|365,227|
|**13.**|**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**Fixed (Tangible) Assets**
**Investments**
**Cash at bank**
**Other Current Assets/Liabilities**
1,616
392,521
180,935
8,631
Total
£
-
-
-
-
-
392,521
-
-
1,616
-
180,935
8,631
Unrestricted
Funds
£
2020
£
Restricted
Funds
Investments
£
Restricted
Funds
Others
£|
|---|---|
||**Total**
583,703
-
392,521
191,182|
||**Total Restricted Funds**
392,521
**Fixed (Tangible) Assets**
**Investments**
**Cash at bank**
**Other Current Assets/Liabilities**
1,262
367,741
172,723
3,891
Total
£
-
-
(2,514)
-
-
367,741
-
-
1,262
-
175,237
3,891
Unrestricted
Funds
£
2019
£
Restricted
Funds
Investments
£
Restricted
Funds
Others
£|
||**Total**
545,617
(2,514)
367,741
180,390|
**Total Restricted Funds** 365,227
**68 | Keeping dreams alive**
020 3585 3011
info@tcf-uk.org
www.tcf-uk.org TCFUKOrg @tcf.uk
48 Charlotte Street, London W1T 2NS | UK Registered Charity No. 1087864 | Company No. 4075959