P • Change begins with
Annual
Report
2024
THE CITIZENS FOUNDATION (UK)
EduL;ation
i.c

Vision.
Values
Positive Change
To remove barriers of class and privilege, to make citizens of Pakistan
agents of positive change.
Sincerity
Service
Beauty
Positive
Conduct
Mission
Quality Education
To enable moral, spiritual and intellectual enlightenment through
quality education.
Better Future
Creating opportunities to improve quality of life.
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IiiiiiifiiryyAI:,141
TCF School, Khurshid Shams-ud-Deen Campus, Chakwal
Punjab
I I CHANGE BEGINS WITH EDYtATION

Transforming Live.8. * 5
Through the Power
ucation*t..
The Citizens Foundation (UK) (TCF-UK) is a UK-registered charity
established in 2001 to address the growing education crisis in
Pakistan. TCF-UK raises funds and awareness to support the work of
The Citizens Foundation (TCF), a globally recognised education
charity for out-of-school children in some of Pakistan's most
deprived communities.
TCF was founded in1995 by a group of friends with a shared vision to
drive positive change through quality education. Today, TCF operates
one of the world's largest networks of independently run schools, with
2,033 school units providing quality education to over 301,000
students across Pakistan. TCF schools are led by a dedicated faculty
of14,700 women. The Economist has recognised TCF as'perhaps the
largest network of independently run schools in the world."
TCF'S impact extends far beyond the classroom. Our innovative
education model equips students with the skills they need to thrive
in the 21st century. We actively support our Alumni in pursuing higher
education and building meaningful careers. At the same time, we
partner with government bodies to improve learning outcomes in
public schools. Through literacy initiatives, life skills development,
and vocational training, particularly for women, we are helping
uplift entire communities.
Over nearly three decades, TCF has built a reservoir of experience,
knowledge and expertise. Today, we share these learnings to
strengthen education delivery across Pakistan by working
collaboratively with organisations and policymakers.
TCF'S education movement is made possible by a global community
of supporters who believe in the power of education. Together, we are
working to ensure that every child, regardless of background, has the
opportunity to learn, grow and thrive.
tJ
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Contents:
A New Milestone in Our Journey..........07
Programme Updates &
Impact Stories............-...........-...........-...09
Review of TCF-UK Activities..--.--.--.--.----.39
TCF-UK Highlights.._._____._.___________________._.43
Create Lasting Change.........................52
Who We Are............................................55
Legal Status and
Nature of Operations
The Citizens Foundation (UK) was registered on 6 August 2001 with the
Charity Commission for England and Wales (Charity No.1087864). It is
constituted as a company: No. 04075959 (England and Wales) with
an independent Board of Directors (Trustees). TCF-UK'S aim is to raise
awareness and funds for The Citizens Foundation (TCF), Pakistan's
leading education charity.
Financials.----------------------------------------------.57
TCF-UK'S registered office is at 85 Tottenham Court Road, London
WIT 4TQ.
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A New Milestone in
Our Journe
We have doubled our impact in the last10 years.
2,033
0 301,000
School Units
Students Enrolle
63,000
14,700
221,000
3,700
80,700
Graduates
All-Female
Faculty Members
Aagahi Adult
Literacy Learners
Vocational
Trainees
Beneficiaries Receiving Clean
Drinking Water Every Day
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Ii..
Programme Updates
& Impact Stories
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Raising the Academic
Bar: TCF Transitions to
the Federal Board
At TCF, we aim to nurture our students with an education rooted in
critical thinking, diligence and integrity.
However, we observed that the divisional boards responsible for
administering the Matric (Secondary School Certificate) exams in
Pakistan were falling short of these standards. The examinations
often lacked academic rigour, and instances of unfair practices were
widespread.
To address this, we made a bold decision: we transitioned our
Secondary Schools to the Federal Board of Intermediate and
Secondary Education (FBISE). The FBISE is known for its strong
academic standards and fair examination practices. This transition
marked a significant shift for everyone involved, raising expectations
at every level.
How did we rise to the challenge? Explore the full story to find out.
11 I CHANGE BEGINS WITH EDUCATION

In Pakistan, Matriculation (or the Secondary School Certificate)
examinations are conducted by various education boards. Divisional
boards follow provincial guidelines, while students in schools affiliated
with the Federal Board take exams administered by the Federal Board
of Intermediate and Secondary Education (FBISE). FBISE oversees
examinations in the Federal Capital Territory, federal government
institutions, embassy run schools overseas, and recognised private
education networks.
Challenges After the Move
The transition to FBISE was a bold but necessary step for TCF. It raised
academic standards and encouraged both students and teachers to
embrace a more rigorous, concept-based learning approach. Our
teams worked tirelessly to manage the complex operational and
academic changes across our Secondary Schools in Pakistan. We
also dedicated time to counselling parents, some of whom were
concerned about potential lower scores under the FBISE
system-concerns that initially led to a few student dropouts. Despite
these challenges, the shift unified our schools under a higher standard,
fostering resilience, accountability, and a shared commitment to
excellence.
Before TCF Moved to the
Federal Board
For years, TCF students have been taking their exams under
22 different divisional examination boards across Pakistan. However,
there was a nagging truth we couldn't ignore. These boards often had
poor standards which encouraged rote memorisation and followed
poor examination invigilation practices, resulting in inconsistent
academic standards across regions.
A Promising Start
Last year, we marked a significant milestone as TCF students
achieved a 90 % passing rate in their first year under the FBISE. This
promising start lays a strong foundation for future progress. While we
recognise there's still progress to be made, we are confident we are
on the right path, committed to delivering quality education and
maintaining high standards.
Why did TCF Transition to the
Federal Board?
The FBISE stands out from divisional boards mainly due to its
commitment to higher academic standards, emphasising
conceptual learning and critical thinking. FBISE typically has stricter
exam protocols, including better invigilation and control over
cheating. Its centralised system guarantees consistent exam quality
and a unified curriculum across schools throughout Pakistan.
TCF Annual Matriculation Exam Results 2023
7,351 students
90% passed
30% AI & A Grades
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A ProMiSe'_
"I couldn t believe it! I got an
Al-Grade in Federal Board -
itfelt like a dream."
Fulfilled:
TCF student from
Tharparkar secures
an Al-Grade under
FBISE.
*V
ri
Radha, a graduatin
ool
in Mithrfharparkar, confidently presenting her
ideas in class.
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The school was buzzing with the excitement of a new term in the
desert village of Mithi in Tharparker. Radha, a student of Grade 9, sat
nervously beside her parents in the principal's office. Her heart raced
as Ms. Pushpa talked them through TCF'S transition to the Federal
Board - a conversation she was having with many parents. The
Board's tough standards were well-known, and the promise Radha
had made to her father- to secure an A-Grade this year- suddenly
felt overwhelming.
Before she set off for her first Federal Board exam, Radha's father said
to her, 'I'm praying for your success, dhee (daughter). You've given
your best."
In her first year under the Federal Board Grade 9 exam, Radha scored
an A Grade. The next year, she worked even harder and graduated
with an impressive Al Grade - fulfilling the promise she had made to
her father.
From the moment she could understand her father's struggles,
Radha's only dream was to make him proud. Sumaar, a rickshaw
driver, spent long hours behind the steering wheel in the desert heat
every day, driven by one hope: to give Radha and her siblings a future
he could only dream of. And for Radha, keeping that hope alive was
the most important thing.
But Radha's story doesn't end with her Al exam Grade, a testament to
TCF'S quality education standards. Her friends and former classmates
saw that one girl could pass the exams and became inspired. They
returned to TCF and began studying for the exam themselves. Her
classmate Fahad Rehman said of Radha's influence,, We studied
hard because we were inspired by her. Then, we gave our own
exams and passed, and Inshallah, when the Grade 9 students see
our results, they too will succeed."
Don't depend on anything but your own
effort, Radha,"said Ms. Pushpa, her voice
filled with reassurance. We will be here
every step of the way.
The calm assurance of her principal's words
gave Radha the courage she needed.
Radha is now studying to become a teacher- becoming an
inspiration to more students to continue their education.
li_
From then on, Radha immersed herself in her studies. While some of
her batchmates opted to switch schools or sit exams privately,
intimidated by the Federal Board's rigorous standards, Radha held
her ground, dedicating long hours of study at school and home with
the help of her teachers.
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Uplifting Outcomes in
Government Schools
In 2016, the foundation was laid for TCF'S Partnership Schools
Programme when we undertook the challenge of revitalising
some of Punjab's most underperforming schools. The situation
was dire: classrooms were nearly empty and children struggled
with basic literacy. Seven years later, public schools under TCF'S
Partnership Schools Programme are buzzing with students, who
are showing impressive learning outcomes that once seemed
impossible.
What turned forgotten schools into thriving learning places?
It's a story of commitment, hard work and courage.
Flip the page to learn more.
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Hard Work Pays Off
Annual Status of Education Report (ASER)
Students at TCF-Managed Government Schools are
outperforming students in Public & Private Schools
in Punjab.
70/.
72%
66%
61%
54/.
47/.
47/.
46% 46/.
32%
27%
28% 26%
30%
21/.
22/.
25% 24%
Punjab Public Schools
Punjab Private Schools
TCF - Managed Govt. Schools in Punjab
2021
2023
2021
2023
2021
2023
/0 who can read a story
in Urdu
/0 who can read a story
in English
/0 who can do Subtraction
& Division
Our Interventions:
Principal & Teacher Hiring
& Development.
Academic Support to Multigrade
Teachers through Supplementary
Materials & Teacher Guides.
The success of the programme highlights the powerful difference that
strategic educational reforms can make in unlocking each student's
true capabilities. By transforming struggling schools into thriving
learning spaces, we've proven that careful and thoughtful
intervention enables students to overcome their challenges and
achieve outstanding progress.
Focus on Foundational Literacy &
Numeracy through Remediation.
Stringent Monitoring &
Evaluation Mechanisms.
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oj
Sujaag
,11
78
(The Awakening)
A Literacy & Life Skills
llll Programme in Remote
Communities
41
Sujaag is a community-based Literacy
and Life Skills Programme designed for
out-of-school children aged 8-16 in
Pakistan's most inaccessible areas.
With over 26 million children
out-of-school, many of whom have
never been inside a classroom, TCF
launched Sujaag to tackle this urgent
need for education in places where
government schools are non-existent.
TCF'S stsjaa
g Centre ikn a remot
village of Sanghar (Sindh), out-of-schod
children aged, 8-18 receive basic literacy and life skills education from a local teacher.
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The Sujaag
Model in Action
How far has
Sujaag Come?
11,000
How is TCF making learning possible in unreached communities?
Centre Identification
Teacher Hiring
Applications are generated
through pamphlets circulated
in remote communities. Local
educators submit their
applications via SMS once they
receive the pamphlets.
The Sujaag team conducts
telephonic verification and
performs an online
assessment to finalise the
selection of educators
and students.
Learners
DD
DD
DD
LLS Center
ocj
tJtJ
550+
Teacher Support
Ongoing Monitoring
Centres
Scheduled in-person
training before the start of
each module takes place.
student attendance and
progress are tracked online
on a daily basis for updates,
accountability and support.
20
Community Classrooms
Programme Length
Districts
Sindh & Balochistan
Classrooms are set up locally
in a space provided by the
local community.
The programme runs over15
months, covering 3 modules.
Each module lasts 5 months.
Classes are held for 3 hours,
6 days a week.
Currently in its pilot phase, Sujaag is working to establish a resilient
model for operations, monitoring, and evaluation that can be scaled
nationwide. Sujaag brings children the closest experience to a
classroom which they have been missing for far too long.
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li.
'•J
irkn f4lli
11
)ly,
Children at,
(Sindh) Èir
appHwg cent.ry the remote vilLage ofsan'ghar-.
Hope in the Middle
of Nowhere
'Before Sujaag, the children had nothing. Today, the kids in our
village can read, write their names, and do basic maths. Sujaag
has opened a window in their lives.
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The car suddenly came to a halt after nearly five hours of driving
and navigating through swamps and fields. Nestled between trees
and wild shrubs, in the middle of nowhere, stood a small bamboo
shack. From a distance, we could hear the harmonious voices of
students reciting alphabets in chorus.
Hatim Ali, a young boy dressed in a red Sindhi
topi (cap), holding onto his book, told us how
much he enjoys the three hours here,'l enjoy
playing the dice game the mostl
The wind was fierce. As we stepped inside, colourful drawings
fluttered around the shack, each artwork filled with dreams and
hopes. Children of different ages, dressed in vibrant Sindhi attire, sat
together - some reading, some writing - all learning happily. At the
front of the space, stood a young man, full of passion and energy,
writing on a small blackboard mounted on a steel stand.
Jamzadi, a confident girl full of smiles, shared,
My teacher is very nice. He teaches us new
things. I like to do hisaab (maths) the mostl '
This is the Sujaag Learning Centre in Haji Hamid Shah Village near
Sanghar, Sindh. Here, kids as old as sixteen are learning to read and
write for the first time because there is no school nearby.
Ali Shafa, a14-year-old boy who works in the
fields shared excitedly, "I've learnt to write
' Last year, I got a message from TCF about
opening a Sujaag learning centre in our village. I
responded right away,"shared Shahbaz after
completing the lesson for the day. The villagers
came together to set up this space. They were
so excited their children will get the chance to
learn, 'he recounted, pride shining in his eyes.
Sujaag exists where there is nothing else. For children who don't
have access to school or learning, it is the beginning of hope.
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Other
Updates
TCF College Students Excel in
Board Results
TCF College has achieved outstanding success in the latest Board of
Intermediate Education Karachi (BIEK) results, boasting an impressive
95% passing rate. This achievement places our college alongside the
most prestigious institutions in Karachi, far surpassing the BIEK
average of 34%. This success is a testament to the unwavering
dedication of our students and faculty.
Optimising TCF'S Book Publishing Costs
Stanford Social Innovation Review
(SSIR) Features a Case Study on TCF:
The School System Rebuilding Civil
Society
This year, our Supply Chain team implemented strategic changes to
optimise TCF'S publishing process. By enhancing sourcing,
streamlining distribution, and strengthening logistics, we achieved
impressive savings. These efforts led to a substantial cost savings of
PKR 200 Million (equivalent to over £555,000)- 29% below anticipated
costs, despite a 30% year-on-year cpl (consumer price index)
increase in December 2023.
The Stanford Social Innovation Review (SSIR) featured The Citizens
Foundation (TCF) in a case study,'The School System Rebuilding
Civil Society, authored by Noor Noman. The piece highlights TCF'S
journey of delivering quality education at scale and its innovative
approach to breaking down barriers, particularly for girls, to ensure
equitable access to education. It chronicles the inspiring story of
Kainat Ansari, a TCF alumna who grew up in the slums of Karachi and
went on to graduate from Whitman College and attend Oxford
University. The case study sheds light on the essential elements which
have shaped TCF into a transformative force for positive change and
extended its impact beyond the walls of its schools and into the
communities it serves.
TCF Publishing House: Expanding
Access to High-Quality Books
The Citizens Foundation (TCF) is proud of the curriculum and books
developed for its schools after years of research and continuous
improvement. Now, through the TCF Publishing House, these
high-quality materials are being offered to low-fee private schools
(LFPS), where substandard curricula have hindered student learning.
The initiative aims to provide quality books at affordable prices, and
is significantly enhancing educational outcomes for163,000 students
across 400 private schools in Pakistan.
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Dastak: Empowering Teachers
beyond TCF
Launched in 2019, the Dastak Online Teacher Training Programme has
empowered 2,400 teachers from low-fee private schools (LFPS)
across100 cities in Pakistan. The programme leverages decades of
TCF'S teacher development experience by offering a low-cost, 6-week
online training programme, focused on enhancing skills in classroom
management, lesson planning and delivery, and teachers
self-development. Dastak is significantly expanding its impact and
fostering a community of skilled teachers dedicated to improving
educational outcomes.
Transforming Women's Lives with
the Gift of Literacy
Principals. Academy Highlights
Technology s Role in Education
For nearly two decades, TCF'S Aagahi Adult Literacy Programme has
been a beacon of hope for out-of-school girls and women in
communities across Pakistan. The programme empowers them to
read and write in Urdu, perform basic Maths, and gain essential
knowledge about health, hygiene, and sanitation. Since its inception,
Aagahi has transformed the lives of over 221,000 women living in
disadvantaged communities, who after learning how to read and
write, have improved the quality of their lives. In the past year alone,
over 46,000 learners successfully gained literacy, opening a world of
possibilities.
Great schools start with great leaders. Each year, TCF Principals
participate in intensive training at the Principals, Academy,
empowering school leaders across Pakistan. Through a meticulous
training needs analysis, we identify high-impact growth priorities and
tailor the programme accordingly. This year, the training expanded its
focus to include the transformative role of technology in education,
effective use of teacher guides, and designing higher-order thinking
questions to elevate classroom engagement. Armed with these skills,
they are ready to empower their teachers and foster a culture of
continuous learning and growth in TCF schools.
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Aab-e-Rehmat: Expanding Access
to Clean Water Across Communities
This year, TCF'S Aab-e-Rehmat Programme launched 19 new water
filtration plants at our school locations. These plants are placed in
high-need areas where communities face challenges with
contaminated water, providing effective solutions for clean drinking
water. With a total of 55 filtration plants now in operation, the
programme serves over 80,000 people daily across Punjab, Sindh,
and Balochistan, with most plants running on solar power.
Uplifting Women Through
Vocational Skills
AL
TCF'S Vocational Training Programme provided vocational training in
Tailoring and Fashion Design to 500 women across TCF communities
in Karachi, Thatta, Lahore, Kasur, Sheikhupura, Narowal, Chiniot,
Jaranwala, Burewala, Khushab, Sargodha, Mianwali, Muzaffarabad,
and Rawalpindi. These women have not only gained valuable skills
but have also put them into practice. Approximately 400 of our
certified trainees have collectively stitched over 27,000 uniforms for
TCF students, which has significantly contributed to their household
incomes while allowing them to work from home. This initiative is a
testament to the transformative power of vocational training in
uplifting communities and fostering economic independence.
dl
3.5
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EBE
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The Rahbar Programme is
Transforming Young Lives
Since its inception in 2008, TCF'S Rahbar Programme has fostered a
powerful connection between16,200 mentors and 59,900 students.
This unique initiative for 8th and 9th graders spans six consecutive
Saturdays, held three times a year at selected TCF Schools across
Pakistan.
The programme's core philosophy,'Thought to Destiny,. encourages
students to envision themselves as architects of their own futures
rather than as victims of their circumstances. Rahbar ignites a sense
of hope and possibility among students. Through this journey,
mentors build deep, trusting relationships with their mentees, helping
them uncover their inner strengths and reach their full potential. The
impact of Rahbar is profound, empowering students to embrace
responsibility and confidently chart their own paths in life.
Yp
y}
14
Another Summer Camp
Season Triumphs
1,300 Summer Camp volunteers and 9,000 TCF students came
together this year and made the TCF Summer Camp a tremendous
success. Students and volunteers created unforgettable memories
through activities like storytelling, theatre, arts and crafts, sports, and
games.
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These efforts were all geared towards one goal: building a more
resilient and sustainable foundation for long-term impact.
Review of TCF-UK
Activities
A key pillar of our strategy was expanding our regional presence
across the UK. In November, our Chapter Roadshow, featuring
renowned Pakistani actor, Adnan Siddiqui, helped us reach new
audiences in Manchester, Yorkshire, Cardiff and South London. This
initiative significantly strengthened our supporter base and boosted
fundraising efforts, while deepening community engagement.
The Citizens Foundation (UK) was established in 2001 to raise funds
and awareness for TCF, Pakistan's leading education charity,
providing quality education to children from the country's most
disadvantaged communities.
To reach younger audiences, we increased our outreach at
universities and collaborated with digital content creators. We also
made strategic investments in our digital marketing efforts, resulting
in a substantial increase in organic reach and engagement across all
our platforms. These initiatives have been vital in raising awareness of
our work and growing a more diverse and connected donor
community.
Over the last 24 years, every milestone that we have reached has
been made possible by the unwavering support and generosity of our
donors. We are deeply grateful for this trust, and remain committed to
upholding the highest standards of transparency, accountability and
good governance.
We are deeply grateful to our dedicated volunteers and chapters,
who helped organise 29 fundraising events through the year. From
treks and cricket tournaments to the Saucony IOK run and other
personal challenges, our supporters found countless ways to
champion our work. A standout moment was our Annual Charity Gala
at The National Gallery, which brought new supporters and raised a
record-breaking amount in a single evening.
Guided by these values, we continue to minimise our expenditure in
the UK so that we can maximise the funds we invest in our education
programmes in Pakistan. In line with this commitment, none of our
Trustees in the UK receive any compensation or reimbursement for
out-of-pocket expenses from the charity.
In 2024, TCF-UK entered an exciting new chapter, defined by clear
strategic direction, digital innovation and a renewed focus on
deepening community engagement. Despite the cost-of-living crisis
in the UK and soaring inflation in Pakistan, we remained focused on
expanding our reach, fostering deeper connections with our
supporters and diversifying our donor base.
To all our donors, volunteers and partners - thank you. Your belief in
our work fuels every step we take. Because of your support, thousands
of children in Pakistan are being given the opportunity to learn, grow
and rewrite their futures.
Together, we are not just raising funds. We are creating lasting
change through education.
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## **Charitable Activities** 

|Totals|Running costs|Building|Endowment||
|---|---|---|---|---|
||of schools|schools|fund||
|£|£|£|£||
|2,172,380|1,532,216|350,114|290,050|Individuals, incl. gift aid|
|481,974|481,974|||Fundraising events|
|19,270|19,270|||Corporates|
|1,573,746|705,860|867,786||Grant making charities|
|4,247,270|2,739,320|1,217,900|290,050||
|12,858|12,858|||Investment income|
|4,260,128|2,752,178|1,217,900|290,050|2024 incoming resources|
|9,820,554|9,282,739|147,614|390,201|2023 incoming resources|



TCF-UK seeks to minimise administrative costs wherever possible. Our expenditure is often covered by specific donations for this purpose and a significant portion is covered by Gift Aid (see below). 

TCF-UK's policy is to send the donations we receive to TCF Pakistan as soon as practicable. In particular, all restricted donations received, for a specific purpose, are sent in full to TCF Pakistan. 

Breakdown of TCF-UK expenditure on charitable activities being grants during the year to TCF for school support (running costs), build and endowment grants totalling £6,425,272 (i.e. excluding £9,300 audit fee) (2023: 5,962,240). 

|Total|Support|Build|Endowment|||
|---|---|---|---|---|---|
|£|£|£|£|||
|6,425,272|4,917,322|1,217,900|290,050|2024|2024grants to TCF|
|5,962,240|5,424,425|147,614|390,201|2023 grants to TCF|2023 grants to TCF|



The 2024 support grants to TCF of £4,917,322 included grants towards the support (running) costs of schools built by TCF-UK donors and, where donors specifically requested this, to TCF's adoption of failed government schools programme (GSP). Our grants paid the annual cost of educating about 45,069 students and contributed about 15% of TCF's total expenditure on running its schools. 

Since 2001, a total of 51 TCF schools have been built by TCF-UK donors, of which 19 run afternoon shifts, for a total of 70 school units (51 primary and 19 secondary) at the start of the 2024 academic year. 

Total Gift Aid receivable for 2024 and included above was £196 197 , (2023: £210,514). 

In addition, the TCF-UK team has assisted TCF in their dealings with international granters. 

CHANGE BEGINS WITH EDUCATION I 42 

41 I CHANGE BEGINS WITH EDUCATION 



TCF-UK Highlights
7 University Outreach
Partnering with Pakistan Societies across UK
universities helped us engage with younger
audiences. Highlights included an education panel
at Cambridge University and outreach events at
SOAS, King's College London, Queen Mary University
and Regent's University. These initiatives have
helped galvanise a new generation of TCF-UK
supporters.
TCF-UK'S Annual Charity
Gala "Colouring Dreams" at
the National Gallery
We began 2024 with a landmark event: our
Annual Charity Gala at the iconic National
Gallery. Featuring our inspiring Alumna, Zaitoon
Kareem, the event raised a record amount, and
helped over 3,000 underprivileged children
dream in colour. We are especially grateful to
an anonymous donor who covered the full cost
of the event, ensuring that every pound raised
went directly towards transforming lives.
Collaboration with
Digital Content Creators
London Saucony IOK Race
2024 marked a turning point in our digital
strategy. By partnering with UK-based content
creators, especially during Ramadan, we were
able to amplify our message and reach new
audiences. These creators used their platforms
to advocate for TCF-UK, helping us build trust
and visibility within their communities. By
combining digital campaigns with in-person
events, we fostered more authentic, meaningful
connections and expanded our reach.
This year's annual London Saucony IOK was a
fantastic success. Sixteen runners came
together to raise enough funds to support the
education of110 children in Pakistan.
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Community Info Sessions
To grow our presence regionally, we hosted a
series of information sessions in Birmingham,
Bradford, Cambridge, Cardiff, East London,
South London, Southampton and Staffordshire.
These sessions introduced new audiences to
the education crisis in Pakistan and TCF'S work
on the ground.
11
Legacy Giving
This year, we launched our Legacy Giving
Programme, to encourage supporters to leave a
lasting impact through gifts in wills and
charitable bequests. This initiative invites donors
to invest in the future by creating a legacy that
will empower generations of TCF students.
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TCF-UK Chapter
Highlights
Yorkshire Chapter
Raising the bar once again, Yorkshire hosted a
range of impactful events, including their annual
Yorkshire 3 Peaks Challenge and a fundraising
dinner featuring actors, Mira Sethi and Adnan
Siddiqui. Collectively, their efforts helped fund
three TCF school units 540 students this year.
Young Professionals
Chapter
2024 marked the exciting launch of our first
Young Professionals Chapter at Shola Karachi
Kitchen, with over 50 attendees. Their energy,
ideas, and cross-chapter support have quickly
made them an invaluable part of the TCF-UK
community.
North London Chapter
Our North London Chapter hosted their Annual
Family Indoor Cricket Tournament at Lord's
Cricket Grounds. Always a crowd favourite, the
event saw eight teams compete in friendly
rivalry. While Karahi Kings claimed the trophy, the
true champions were the180 children whose
education was made possible through the funds
rised.
South London Chapter
One of our longest-standing and most
dedicated chapters, the South London Chapter,
kicked off the year with a hike in Surrey Hills
followed by a record-breaking Quiz Night &
Dinner in November, featuring Saima Mohsin,
Adnan Siddiqui and TCF Alumni, Huzaifa Shareef
and Ramsha Bughio. Together, their events
supported the education of over 440 children.
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Northwest England Chapter
Staffordshire Chapter
Kicking off our November Roadshow, the
Northwest England Chapter hosted a standout
event featuring Adnan Siddiqui, Momin Saqib,
and TCF Alumni, Huzaifa Shareef and Ramsha
Bughio. With over 200 attendees and a
memorable musical performance by Chapter
Lead, Salman Shahid, the event raised enough to
send over 700 children to school.
This year, Staffordshire focused on outreach and
community building. They hosted an info session
featuring Riaz Kamlani, TCF Pakistan's Executive
Vice President of Flagship and CDU Programmes
to introduce new supporters to TCF'S
life-changing work.
TCF maintains a
balanced gender ratlo
in its classrooms
www.tcf-uk.org
Cardiff Chapter
Our Cardiff Chapter made a powerful impact
with their inaugural event in November. With a
strong dedicated team and tremendous
community support, they were able to attract
over 250 guests and raise enough to support
the education of over 520 children.
491 CHANGE BEGINS WITH EDUCATION
Gf. BÈoiN4

ALHAMa SHAaiAH AOVISOaY %aVICES
Create Lasting Change
PVT] LIMITED I
Certificate No: ASA100011008
August 07, 2024
Every contribution that you make goes towards empowering children
from disadvantaged communities through quality education.
Make a gift to create an impact that lasts forever.
Shariah Advisor's Re
ort
For the year ended June 2024
INTRODUCTION:
TCF is a professionally managed, non-profit and philanthropic organization established in 1995 by a
group of Concerned citizens addressing the education crisis in Pakistan. It has become one of
Paklstan's leading organizations Sn formal education, wSth a vision to eliminate barrlers of class and
privilege and empower Pakistanis to drive positive change. TCF believes in universal access to basic
education as a fundamental right. Under TCF'S administration, numerous schools across Pakistan
provide education to thousands of children.
Educate a Child
Educate a Child
KG to Matric
£10 (Monthly)
£122 (Yearly)
METHOD OF UTILIZATION OF ZAKAT:
£1,350 (One-Time)
TCF'S financial needs are primarily met through Zakat contributions and donations received from
both individuals and corporate entities, both domestically and internationally. Zakat funds received
by TCF are allocated to support deserving students. TCF'S management diligently evaluates the
fi'nancial condition of applicants to determine their eligibility for Zakat assistance. Once eligibility is
verifi'ed, TCF act5 as an agent, collecting Zakat funds on behalf of eligible students. This approach,
known as Wakalah (Agency by deserving families}, allows TCF to collect Zakat funds and allocate
them according to the specific needs of eligible students.
Morèover, it is important to note that all Zakat funds received by TCF are invèsted exclusively In
Shariah-compliant investment avenues when necessary. This ensures that not only the collection
and distribution but also the investment of Zakat funds is in strict accordance with Shariah
principles.
Sponsor a
Classroom
£265 (Monthly)
£3,200 (Yearly)
Support a
School Unit
£1,600 (Monthly)
£19,000 (Yearly)
SHARIAH RULING:
We conh'rm that The Citizens Foundation meticulously collects and disburses Zakat funds in
adherence to Sharlah guidellnes. It Is also affirmed that any individual or entlty offerlng Zakat to
this Foundation can be confi'dent that their contribution5 will be managed in accordance with
Shariah principles.
May Allah bestow His blessings upon the management of The Citizens Foundation for their
dedlcated servSce and grant them success in thelr mSsslon. Aarneen.
Build a School
Support an Adult
Literacy Learner
£9 (One-Time)
£155,000
(One-Time Build Cost)
£95,000
(5 Year Support)
1/1
Mufti Muhammad Ibrahim Essa
Chief Executive Officer
Alhamd Shariah Advisory Services (Pvt.) Limited
Mufti Ubaid ur Rahman Zubairi
Difector
Alhamd Shariah Advisory Service5 {Pvt.) Limited
Notes Related to Build-a-school
Costs are for build cycle of 2025126 and ore subject to revision. Rotes are calculated based
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). All school construction projects in earthquake zones will
take into account additional costs for special earthquake resistant architecture.
NOTE- This certificate is valid ti1130 June 2025
+92 322 2671867111
'.V glh.iYtd-,hiriah?diij-:eri rnrn l Fl .n¢i ryf•,.Ih3m.d:hiri,74?diJ'."opi
511 CHANGE BEGINS WITH EDUCATION
CHANGE BEGINS WITH EDUCATION152

Giving Made Easy
There are so many ways to make a meaningful contribution with your
Zakat, Sadaqah or general donations. Choose what works best for you.
Give Online
Visit www.tcf-uk.org to make a one-time or recurring donation
online.
Send a Cheque
Send us your donation by cheque, made payable to
"The Citizens Foundation (UK)" at 85 Tottenham Court Road,
London, WIT 4TQ.
Deposit or Bank Transfer
Donate your Zakat and Sadaqah via bank transfer to our
account as mentioned on our website:
https://www.tcf-uk.org/donation-information/
You can request a donation receipt by emailing us at
info@tcf-uk.org.
Fundraise for us
Start fundraising by creating your own digital campaign at
https://fundraise.tcfglobal.org/
Match Your Donation 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 gift matching scheme.
Leave 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 7268 3545.
531 CHANGE BEGINS WITH EDUCATION
CHANGE BEGINS WITH EDfftIoN15

Who We Are
Trustees
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.
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 London.
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 CFA charter holder.
Volunteers
UK Chapter Leads
Faisal Khan
Aida Khan
Khuram Zubair
Angela Reed
Ayla Ahmed
Zishan Ayub
Zain Ghani
Rehan Latif
Sabah Ahmed
Safraz Shafqat
Mikail Taimoor
Zayn Kamlani
Sinéad Morgan
Daniyal Hussain
Sairah Khan
Sean Mccarry
Cardiff
North London
Nasrullah Tahir Noreen Kazim Amir
Amir Zafar
Imtiaz Dossa: Imtiaz has been a supporter of TCF since its inception in
Pakistan in 1995 and has supported female education since before
then. He is a Chartered Accountant and ran a trading company until
2005. He was a Trustee for a major international charity until 2010 and
is on the Board of Directors of TCF Pakistan.
South London
Farah Mughal
Tahir Mughal
staffordshire
Hifsa Haroon Iqbal
Zafar Iqbal
Yorkshire
Raza Effendi
Naheed Effendi
Young Professionals
Saif Kureishi
Mehreen Malik: Mehreen Malik is a lawyer by profession and the Head
of Pro Bono for Europe at Mayer Brown International LLP. She holds a
BA in Political Science from Bryn Mawr University and was also called
to the Bar of England and Wales from the Honourable Society of
Lincoln's Inn.
Advisory Committee
Talha Khan
Northwest England Chapter
Salman Shahid
Farzana Khan
Nouman Hashmi: 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.
TCF-UK Team
Sania Sufi
Chief Executive Officer
Mirza Javed
Finance Manager
Areeba Kirmani
Regional Development
Director
Tariq Hussain: Tariq has been associated with TCF since1998, 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 and is now a part of TCF
Pakistan's Board of Directors. Tariq is an investment banker and
Chartered Accountant by profession and holds an MBA from IMD
Business School, Lausanne.
Fatima Javaid Ahmed
Fundraising Director
Esma Karuv
Fundraising Associate
Kristalena Herman
Fundraising Manager
Ahsan Iqbal
Regional Development
Associate
Zaynab Hasan
Fundraising Executive
Trusts & Foundations
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CHANGE BEGINS WITH EDUCATION156

THE CITIZENS FOUNDATION (UK)
Company no: 04075959
Annual Report and Financial Statements
for the year ended 31 December 2024
COMPANY INFORMATION
DIRECTORS:
T R Hussain
B Raja
MAAII
I S Dossa
N Hashmi
M Malik
SECRETARY:
T R Hussain
REGISTERED OFFICE:
85 Tottenham Court Road
London WIT 4TQ
Financials
REGISTERED NUMBER:
04075959 (England & Wales)
1087864 (England & Wales)
CHARITY NUMBER:
AUDITORS:
Wright Vigar Limited
Statutory Auditors, Chartered Accountants and
Business Advisers
15 Newland
Lincoln
LNI IXG
BANKERS:
Lloyds Bank plc
70-71 Cheapside
London
EC2V 6EN
HSBC Bank plc
95 Grace Church Street
London
EC3V ODQ
571 CHAN1* BEGINS WITE4 EDUGA T,ION
CHANGE BEGINS WITH EDUCATION158

TRUSTEES, REPORT
TRUSTEES, REPORT (cont'd)
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 2024 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 ond Reporting
by Charities: Statement of Recommended Practice opplicoble to Chorities preparing their accounts in occordance
with the Financial Reporting Standard applicable in the UK and Republic of Irelond published in October 2019
(effective l January 2019).
CONSTITUTION, POLICIES AND OBJECTIVES
Restricted funds- see notes 3, 5,11,12 &13 for more details:
Investments are made up of.,
Share capital of TCF-UK Endowment Ltd. £0 (2023: £1), now dissolved.
Endowment fund investment £289,980 (2023: £325,200).. these shores- their income and any proceeds from their
sale, are restricted by the donor solely to defroy the costs of running TCF schools built by that donor.
During the year £286,000 were invested in equities and fixed income securities. The fair value of these investments
at yeor end was £293,006.
other restricted funds ore made up of:
A grant of £239,879 and other restricted funds of £99,455 were received just before year end and remitted to TCF in
January and March 2025.
Unrestricted funds: see notes 12 &13,.
The Charity oims to mointain unrestricted funds, which are the free reserves of the Chority, ot a level (£280,566) which
equotes to approximately six-month's on-going expenditure on the governance, manogement, and odministration
of the Charity. The Trustees believe this should provide sufficient funds to enoble the Charity to respond to
unexpected contingencies.
At 31 December 2024, total unrestricted retoined funds were £312,224 (2023.. £243,871). This is slightly higher than the
above basis due to the receipt of unrestricted funds just before the yeor end, but is broadly in accordonce with the
policy.
The Citizens Foundotion (UK) (TCF-UK) is constituted as o company (No: 04075959) limited by guorantee incorporoted
in London (Englond and Woles) on 21 September 2000, ond registered os a charity (No'.1087864) in England ond Wales
on 6 August 2001.
In accordance with TCF-UK'S governing document, we raise awareness and funds for The Citizens Foundotion (TCF),
Pokistan's leoding chority in the field of formal education for underprivileged children.
There have been no changes in the objectives since the last Annual Report.
In earlier poges of this Annual Report, the Trustees have provided a great deal of additional detail and analysis of the
income ond expenditure of the Charity os well as comprehensive information on TCF: its work, ethos, current status
ond future plans and aspirations,
The Trustees have considered the Chority Commission's guidonce on public benefit and believe that our work cjnd
purposes clearly meet the public benefit requirement.
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.
All grants made by TCF-UK ore directed exclusively to The Citizens Foundation (TCF) Pcjkistan, as ond when sufficient
funds are accumulated.
Major risk mitigation by Trustees includes monitoring on on 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 o particular focus on our exposure to a potential curtailment by large donors. The
diversification of fundraising sources is on active Trustee priority to ensure the Chority does not become dependent
to ony one source of income.
The Trustees hove ossessed the major risks to which TCF-UK is exposed, in particulor those related to the operations
and finances of the Chcjrity, and ore satisfied thot systems are in place to mitigote their exposure to major risks.
FUNDRAISING STANDARDS INFORMATION
The charity pays its staff morket rate solaries, which are determined by benchmarking across the sector and taking
into consideration any specialist skills. This process applies to all staff, including key monagement personnel. Salary
levels ore approved by the Trustees as part of the annual budget setting process.
FUTURE PLANS
TCF-UK is committed to support the long-term, sustoined growth of TCF. Our priority, as always, is to build CJ
passionate, committed and diversified donor-base to provide a secure and sustainable foundotion for TCF. TCF'S
schools, including the foiling government schools it has odopted, nurture and produce toleront, economically
self-reliant, self-confident and civic-minded citizens capable of critical thinking.
MEMBERSHIP
Raising funds and awareness of the Charity is corried out by employees and Trustees. The Charity does not use
professional fundraisers. Trustees and staff aim to ensure that all our fundraising remains respectful, transporent 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
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 Charity for the year and do not anticipate any significant changes in
the forthcoming year.
All the Trustees participate in the management of the Chority. Existing Trustees appoint new Trustees after a
satisfactory induction process. The Trustees rely on the excellent guidance for new ond existing Trustees published by
the Chority Commission.
STATEMENT OF TRUSTEES. RESPONSIBILITIES
RESERVES POLICY
2024
2023
Restricted funds
Investments (Note 5)
other restricted funds
582,986
339,334
922,320
312,224
1,234,544
325,201
3,616,054
3,941,255
243,871
4,185,126
The Trustees (who are olso directors of The Citizens Found(Jtion (UK) for the purposes of company law) ore
responsible for preparing the Trustees, Annual Report ond the financiol statements in accordonce with applicable
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Restricted funds
Unrestricted funds
Accumulated funds
59 | CHANGE BEGINS WITH EDUCATION
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TRUSTEES, REPORT (cont'd)
Independent Auditor's Report
to the Mpmbers of The Cilizens Foundation (LIK) Limited (by qucirantpe)
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 ore required to..
select suitable accounting policies and then opply them consistently,.
observe the methods and principles in the Charities SORP 2019 (FRS102);
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 finonciol stotements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in operation.
OPINION
We have audited the financial statements of The Citizens Foundation (UK) (the'charitable company,) for the year
ended 31 December 2024 which comprise the Stcjtement of Financial Activities, the Bolance Sheet, the Cash Flow
statement ond notes to the financial statements, including a summary of significont accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standords (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 2024 and of its incoming
resources and application of resources, including its income ond expenditure, for the year then ended,.
have been properly prepored in accordonce with United Kingdom Generally Accepted Accounting Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
BASIS FOR OPINION
The Trustees are responsible for keeping adequate occounting records that disclose with reasonable accuracy at
any time the financial position of the choritable company and enable them to ensure that the finoncial stotements
comply with the Companies Act 2006. They are olso responsible for safeguording the ossets of the choritable
company ond hence for taking reosonable steps for the prevention ond detection of fraud and other irregularities.
The Trustees are responsible for the mcjintenonce and integrity of the corporate and financial informotion included
on the charitable company's website. Legislation in the United Kingdom governing the preporation and
disseminotion of financial statements moy differ from legislation in other jurisdictions.
We conducted our audit in accordance with Internotional Standards on Auditing (UK) (ISAS (UK)) and opplicable low.
Our responsibilities under those stondards ore further described in the Auditors, responsibilities for the oudit of the
financial statements section of our report. We ore independent of the charitable company in accordance with the
ethicol requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethicol
Stondard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the oudit evidence we have obtained is sufficient and appropriate to provide a bosis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In so far as the Trustees are oware:
there is no relevant audit information of which the charitable compony auditor is unaware,. and
the Trustees have token all steps thot they ought to have token to make themselves aware of any relevant audit
information and to establish that the auditor is aware of that information,
In auditing the financial statements, we have concluded that the trustees, use of the going concern bosis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we hove performed, we have not identified any material uncertainties reloting to events or
conditions that, individually or collectively, may cast significant doubt on the charitable company s ability to continue
as o going concern for o period of at least twelve months from when the financiol stotements are authorised for
issue.
AUDITORS
TCF-UK'S Financial Statements are subject to a statutory audit. This hcjs been completed by Wright Vigor Limited,
The report has been prepared havirig taken odvantage of the small companies exemption in the Companies Act
2006,
Our responsibilities and the responsibilities of the trustees with respect to going concern ore described in the
relevont sections of this report.
OTHER INFORMATION
Signed on behalf of the Board:
The trustees ore responsible for the other information. The other informotion comprises the information included in
the Annual Report, other thon the financiol statements ond our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other informcjtion ond, 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 finoncial statements or our
knowledge obtoined in the audit or otherwise oppears to be moterially misstated. If we identify such moterial
inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a
materiol misstatement in the financial statements themselves. 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.
OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
T R HUSSAIN
23 September 2025
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Report of the Trustees for the financial year for which the financial statements ore
prepared is consistent with the finonciol stotements,. and
the Report of the Trustees hos been prepared in accordance with applicable legal requirements.
611 CHANGE BEGINS WITH EDUCATION
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**Independent Auditor’s Report (cont'd)** 

**Independent Auditor’s Report (cont'd)** 

## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- Adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- The financial statements are not in agreement with the accounting records and returns; or 

- Certain disclosures of trustees' remuneration specified by law are not made; or 

- We have not received all the information and explanations we require for our audit. 

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 Report of the Independent Auditors. 

## **USE OF OUR REPORT** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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 members as a body, for our audit work, for this report, or for the opinions we have formed. 

## **RESPONSIBILITIES OF TRUSTEES** 

As explained more fully in the Statement of Trustees' Responsibilities, 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. 

## **Paul Colcomb FCCA (SENIOR STATUTORY AUDITOR)** 

## **for and on behalf of Wright Vigar Limited Statutory Auditors** 

## **Chartered Accountants & Business Advisers** 

## **OUR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS** 

## **15 Newland** 

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 a Report of the Independent Auditors 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. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). 

**Lincoln** 

**LN1 1XG** 

## **23 September 2025** 

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: 

- We plan our work to gain an understanding of the significant laws and regulations that are of significance to the entity and the sector in which they operate. We perform our work to ensure that the entity is complying with its legal and regulatory framework. 

- We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making inquiries to the management and people charged with governance. 

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included: 

- Substantive procedures performed in accordance with the ISAs (UK). 

- Challenging assumptions and judgments made by management in its significant accounting estimates. 

- Identifying and testing journal entries, in particular material journal entries and an assessment of year end  journals. 

- Assessing the extent of compliance with the relevant laws and regulations. 

63 | CHANGE BEGINS WITH EDUCATION 

CHANGE BEGINS WITH EDUCATION | 64 



STATEMENT OF FINANCIAL ACTIVITIES
(innluding inconie and expenditure account)
BALANCE SHEET
(As at 31 December 2024)
Notes
Unrestricted
Restricted
2024 Totol Unrestricted
Restricted
2023 Total
Notes
2024
2023
Funds
Funds
Funds
Funds
Funds
Funds
FIXED ASSETS
INCOME
Tangible assets
3,246
3,008
Donations, grants
ond endowments
other trading activities
(incl. fundraising
events)
Income from
Investments
Investments
3,5,11 &13
582,986
325,201
i&io
855,560
2,909,736
3,765,296
882,051
8,572,573
9,454,624
586,232
328,209
CURRENT ASSETS
Debtors
Cosh at bank ond in hand
6&13
12
211,257
446,904
658,161
18,837
3,847,078
3,865,915
133,021
348,953
481,974
37,233
317,134
354,367
1,080
11,778
12,858
349
11,214
11,563
CREDITORS
Amounts falling due
within one year
Total income and
endowments
989,661
3,270,467
4,260,128
919,633
8,900,921
9,820,554
7&13
(9,849)
(8,997)
EXPENDITURE
NET CURRENT ASSETS
NET ASSETSILIABILITIES
REPRESENTED BY:
648,312
1,234,544
3,856,917
4,185,126
Cost of raising funds
(incl. fundraising
events)
Expenditure on
charitable activities
1,2,8
703,202
44,721
747,923
362,795
174,771
537,566
ACCUMULATED FUNDS
Unrestricted Funds
12&13
312,224
243,871
218,106
6,216,467
6,434,573
625,616
5,346,224
5,971,840
Endowment Funds
3,12&13
582,986
325,201
Total expenditure
921,308
6,261,188
7,182,496
988,411
5,520,995
6,509,406
Restricted Funds
3,12&13
339,334
3,616,054
TOTAL CHARITY FUNDS
1,234,544
4,185,126
Net gains/(losses)
on investments
3&5
(28,214)
(28,214)
(20,040)
(20,040)
The financial statements hove been prepared in accordonce with the provisions of Part15 of the
Companies Act 2006 relating to small companies.
Net incomel
(expenditure) ond net
movement infunds for
the year
Signed on behalf of the Board
68,353 (3,018,935) (2,950,582)
(68,778) .3,359,886
3,291,108
RECONCILIATION
OF FUNDS
Total funds brought
forward
243,871
3,941,255
4,185,126
312,649
581,369
894,018
T R HUSSAIN
I S DOSSA
Director
Director
Total funds
carried fonNard
3&12
312,224
922,320
1,234,544
243,871
3,941,255
4,185,126
65 | CHANGE BEGINS WITH EDUCATION
CHANGE BEGINS WITH EDUCATION166

STATEMENT OF CASHFLOWS
STATEMENT OF CASHFLOWS (cont'd)
Unrestricted
Restricted
Interest received included in investing activities
(Increase)/decrease in debtors
Increosel(decreose) in creditors
(1,080)
(192,420)
852
(1,080)
(192,420)
852
(349)
1,505
1,101
Funds
Funds
2024
2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided by (used in) operating
activities
NET CASH PROVIDED BY (USED IN)
OPERATING ACTIVITIES
Note A
(122,696) (3,002,498)
(3,125,194)
3,304,258
(122,696) (3,002,498)
(3,125,194)
3,304,258
Note B: Analysis of cash and cash equivalents
2024
2023
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends from investments
Purchose of property, plant and equipmentl
New Investments
Bank Interest received
11,778
11,778
11,214
Cosh in hand
Notice deposits (less than 30 days)
Overdraft facility repayable on demand
207,025
239,879
446,904
3,847,078
(287,838)
1,080
(287,838)
1,080
(2,770)
349
Net cash provided by (used in) investing
octivities
(286,758)
11,778
(274,980)
8,793
TOTAL CASH AND CASH EQUIVALENTS
207,025
239,879
446,904
3,847,078
CASH FLOWS FROM FINANCING ACTIVITIES
Receipt of endowment
Note C: Anolysis of changes in net debt
Net cash provided by (used in) financing
activities
Cosh and cosh equivolents at the
beginning of the reporting period
231,024
3,616,054
3,847,078
534,027
Chonge in cosh ond cosh equivolents in
the reporting period
Notes
B&C
Change in cash and cash
equivolents in the reporting period
(409,454) (2,990,720) (3,400,174)
3,313,051
(409,454) (2,990,720)
(3,400,174)
3,313,051
Cash and cash equivalents at the
beginning of the reporting period
Notes
B&C
CASH AND CASH EQUIVALENTS AT
THE ENDOFTHE REPORTING PERIOD
3,847,078
3,847,078
534,027
(178,430)
625,334
446,904
3,847,078
CASH AND CASH EQUIVALENTS AT THE END OF Notes
THE REPORTING PERIOD
B&C
3,437,624
(2,990,720)
446,904
3,847,078
Note A,. Reconciliation of net movement in funds to net cash flow from operating activities
Unrestricted
Restricted
Funds
Funds
2024
2023
NET MOVEMENT IN FUNDS FOR THE REPORTING PERIOD
(AS PER THE STATEMENT OF FINANCIAL ACTIVITIES)
Adjustments for:
Depreciotion charges
Loss/(gain) on investment
Dividends received included in investing activities
68,353
(3,018,935) (2,950,582)
3,291,108
1,599
1,599
28,215
(11,778)
2,067
20,040
(11,214)
28,215
(11,778)
671 CHANGE BEGINS WITH EDUCATION
CHANGE BEGINS WITH EDUCATION 188

NOTES TO THE FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS (cont'd)
I) 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 opplicable 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 opplicable in the United Kingdom ond Republic of Ireland (FRS 102) and the Companies Act 2006.
The Citizens Foundation (UK) meets the definition of o public benefit entity under FRS102. Assets ond liabilities are
initially recognised ot historical cost or transaction value unless otherwise stated in the relevant accounting policy
notes.
Cost of raising funds - £747,923 (2023.. £537,566) includes:
£194,491 of expenditure on fundroising events (2023: £51,262)
£315,955 of employment costs (2023: £201,183) - see Note 8
£34,632 of rental expenditure (2023. £27,264) - see Note 9
£5,722 of marketing expenditure (2023: £22,876)
£197,123 of other expenditure (2023: £234,981)
During the year, the Chority received donations of £8,599 specified by the donor to defray the Charity's event's
expenditure (2023: £0).
Expenditure on charitoble octivities £6,434,572 (2023,. £5,971,840) is comprised of.,
£6,425,272 of school support, build ond endowment grants to TCF, net of bank charges (2023: £5,962,240)
£9,300 statutory audit fee, including £700 relating to the previous year (2023.. £9,600)
Leasing Commitments
The rental payments under operoting leases ore 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 volue of £1,
Assets costing more than £500 ore capitolised and ore depreciated at 33/0 on the reducing balance basis.
Fixed Asset Investments
statutory Information
The Citizens Foundotion (UK) is a Charity and a private company, limited by gLJarantee, registered in England ond
Woles. The company's registered number and registered office address con 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 guorontee is limited to £10 per member of the
company.
Fund Accounting
Unrestricted funds ore avoilable 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 exomple 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 ore met:
The Charity has entitlement to the funds;
Any performance conditions have been met,.
There is sufficient certointy that the receipt of the income is considered probable,. and
. The amount can be measured reliably.
Gift aid:
Fixed asset investments consist of..
Equity investment in group undertaking, this relates to o wholly owned subsidiary, The investment is subsequently
measured at cost less impairment. Consolidated accounts hove not been prepared os there hove been no
tronsactions in the wholly owned SLJbsidiary during the period from incorporation to 31 December 2024.
Please refer to note 13 for more detoil.
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 ore valued at the omount
prepaid ofter toking account of any trade discounts due.
Creditors
Income includes gift cjid outstanding and receivable from HNARC ot the year end.
Donated Services
Creditors are recognised where the Chority has o present obligation resulting from a post event that will probably
result in the transfer of funds to o third party and the amount due to settle the obligotion can be measured or
estimoted reliably. Creditors are normally recognised at their settlement amount ofter allowing for any trade
discounts due.
The Charity benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which
ore given in our onnual report. In accordance with occounting stondards, the economic contribution of general
volunteers is not measured in the accounts.
Donated Shares
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 Stotement of Finonciol Activities in the period to which they relate.
Financial Instruments
Donated shares are initially recognised at the shore price on the date of transfer to the Charity. They are
subsequently recognised at fair value ot the balance sheet date, as detailed in the Fixed Asset Investments
accounting policy in Note (i) 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
clossified under the following headings..
Financial assets measured at fair value through net incomelexpenditure comprise of listed investments. Fair volue is
measured using the shore price at the balance sheet date. See detoils of corrying amount ond net gain from
investment in note 5.
69 | CHANGE BEGINS WITH EDUCATION
CHANGE BEGINS WITH EDUCATION170

**NOTES TO THE FINANCIAL STATEMENTS (cont'd)** 

**NOTES TO THE FINANCIAL STATEMENTS (cont'd)** 

## **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. 

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 £922,320 on the Balance Sheet at 31 December 2024 were made up of: 

- £1 being the share capital of TCF-UK Endowment Ltd, a wholly owned subsidiary of the Charity -[(] dissolved - 3rd 

- December 2024[)] , Nil now. Notes 5 & ll provide full details of this. 

- £289,980 being the value at 31 December 2024 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 decreased by £35,221 from £325,200 at 31 December 2023. The shares continue to be held by the Charity. 

- The dividend income in 2023 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 year-end value was based on fair value being the closing price on the London Stock Exchange on 31 December 2024[(] 2023: £325,200[)] . 

- During the year £286,000 were invested with Fund Smith and Interactive Brokers and the fair value at year end was 

- £293,006. and 

- A grant of £239,879 and other restricted funds of £99,455 were received just before year end and remitted to TCF in 

- January and March 2025. 

## **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 - 33% on the reducing balance basis||
|---|---|
|**Cost**|**Office Equipment**|
||£|
|At Ol January 2024|20,631|
|Additions in the year|1,837|
|At 31 December 2024|22,468|
|**Depreciation**||
|At Ol January 2024|17,623|
|Charge for year|1,599|
|At 31December 2024|19,222|
|**Net Book Value**||
|At 31December 2024|3,246|
|At 31 December 2023|3,008|



## **5[) ] INVESTMENTS** 

|**5[) ]INVESTMENTS**||||
|---|---|---|---|
||Equity investment|Listed|Total|
||in group undertaking|investment|investment|
|**Cost or valuation**|£|£|£|
|At l January 2024||325,200|325,201|
|Additions||286,000|286,000|
|Disposals|(1)||(1)|
|Revaluations||(28,214)|(28,214)|
|At 31 December 2024||582,986|582,986|
|**Carrying amount**||||
|At 31 December 2024||582,986|582,986|
|At 31 December 2023<br>325,201<br>325,201<br>~~a~~||||
|Investment subsidiary was dissolved on 3rd December 2024.||||
|**6) DEBTORS:**||||
|Amounts falling due within one year||||
||2024|2023||
||£|£||
|Other Debtors|211,257|18,837||
|**7) CREDITORS:**||||
|Amounts falling due within one year||||
||2024|2023||
||£|£||
|Accruals|9,849|8,997||
|**8) STAFF COSTS:**||||
||2024|2023||
||£|£||
|Salaries|282,298|177,124||
|Social security costs|27,689|19,591||
|Pension contributions|5,968|4,468||
||315,955|201,183||
|Average number of employees|8|6||
|No employee was paid more than £60,000(2023:o)||||
|The total compensation paid to key management personnel in the year was £67,777.||||



CHANGE BEGINS WITH EDUCATION 172 

71 I CHANGE BEGINS WITH EDUCATION 



**NOTES TO THE FINANCIAL STATEMENTS (cont'd)** 

**NOTES TO THE FINANCIAL STATEMENTS (cont'd)** 

## **9) OPERATING LEASE** 

## **12) ANALYSIS OF MOVEMENT OF UNRESTRICTED AND RESTRICTED FUNDS** 

|Total future minimum lease payments under non-cancellable operating leases are due in each of the following||Balance|Income|Expenditure|Funds|
|---|---|---|---|---|---|
|periods:||01 January|||31 December|
|2024<br>2023||2024|||2024|
|Expiring:<br>£<br>£||£|£|£|£|
|Within one year(8 months lease)<br>24,072<br>33,840|Unrestricted funds|243,871|989,661|921,308|312,224|
|Later than oneyear and not later than fiveyears<br>24,072<br>33,840<br>Restricted funds<br>Endowment Subsidiary<br>Endowment fund<br>~~a~~<br>-<br>-||||||
||- received|325,200|11,778|11,778|325,200|
|The total operating lease expenditure included in the Statement of Financial Activities is £34,632(2023: £27,264).|Investments||286,000||286,000|
|**10) RELATED PARTY TRANSACTIONS**|net gain/(loss)on investment||(28,214)||(28,214)|
|As in previous years, all the Trustees have made restricted and unrestricted donations to the Charity, the total of|Endowment fund|325,201|269,564|11,779|582,986|
|these donations in 2024 being £62,575(2023: £59,636). None of the restricted donations require the Charity to alter|Other restricted funds|3,616,054|2,972,689|6,249,409|339,334|
|significantly the nature of its existing activities.|Restricted funds|3,941,255|3,242,253|6,261,188|922,320|
|As in previous years, there were no payments made to any Trustee and no other related party transactions.||||||
|One Trustee of TCF-UK also serves on the board of TCF Pakistan. During the year, TCF-UK made several grants totalling||Balance|Income|Expenditure|Funds|
|£6,425,272 to support TCF Pakistan. This amount included restricted funds of £6,216,466 and unrestricted funds of||01 January|||31 December|
|£208,806.||2023|||2023|
|**11) TCF-UK ENDOWMENT LTD- COMPANY NUMBER. 11705468**||£|£|£|£|
|**{THE "ENDOWMENT SUBSIDIARY")- DISSOLVED 3RD DECEMBER 2024**|Unrestricted funds|312,649|919,633|988,410|243,872|
|On 30 November 2018, the Trustees incorporated the Endowment Subsidiary as a wholly owned subsidiary of TCF-UK.|Restricted funds|||||
|The purpose of the Endowment Subsidiary is to receive and hold within its donations of income-generating trading|Endowment Subsidiary|~~]~~|~~]~~<br>=|~~]~~<br>=|~~]~~<br>]|
|assets such as residential property that could potentially be gifted in specie to TCF-UK. The Endowment Subsidiary|Endowment fund|||||
|was set up with a share capital of £1 and its three directors are also directors of TCF-UK. The Endowment Subsidiary<br>has been dormant from incorporation to date with no bank account, no income or expenditure and no transactions<br>other than its £1 share capital. The Endowment Subsidiary has therefore not been consolidated in the accounts of<br>The Citizens Foundation(UK). The investment cost of £1 has been recorded in the accounts as per note 5.|- received<br>net gain/(loss)on investment|345,240|11,214<br>(20,040)|11,214|345,240<br>(20,040)|
||Endowment fund|345,240|(8,826)|11,214|325,200|
||Other restricted funds|236,128|8,889,707|5,509,781|3,616,054|
||Restricted funds|581,369|8,880,881|5,520,995|3,941,255|



## **10) RELATED PARTY TRANSACTIONS** 

## **11) TCF-UK ENDOWMENT LTD- COMPANY NUMBER. 11705468 {THE "ENDOWMENT SUBSIDIARY")- DISSOLVED 3RD DECEMBER 2024** 

Other restricted funds of £339,334 were received shortly before the year end. The purpose of these donations is to support TCF Pakistan's Punjab School Programme, numerous classrooms and student support initiatives, school construction, and other educational programmes. These restricted funds were remitted to TCF Pakistan in January and March 2025. 

73 I **CHANGE BEGINS WITH EDUCATION** 

> **CHANGE BEGINS WITH EDUCATION** I **74** 



NOTES TO THE FINANCIAL STATEMENTS (cont'd)
13) ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024
Unrestricted
Restricted
Restricted
Total
funds
funds
funds
Investments
others
Fixed (tangible) assets
Investments
3,246
3,246
582,986
446,904
201,408
582,986
Cash at bank
Other current assets/iiabilities
207,025
101,953
239,879
99,455
Total
312,224
582,986
339,334
1,234,544
Total restricted f unds
922,320
2023
Unrestricted
Restricted
Restricted
Total
funds
funds
funds
Investments
Others
Fixed (tangible) assets
Investments
Cash at bank
Other current assets/iiabilities
3,008
3,008
325,201
3,847,078
9,839
325,201
231,024
9,839
3,616,054
Total
243,871
325,201
3,616,054
4,185,126
Total restricted f unds
3,941,255
(020 7268 3545 | info@tcf-uk.org
wV4w￿.tCf-uk.0rg I f /TCFUKOrg | o tcf.uk
85 Tottenham Court Road, London, WIT 4TQ, United Kingdom.
751 CHANGE BEGINS WITH EDUCATION