Charity Registration No: 1156222 Company Registration No: 08702259 (England and Wales)
The CH Foundation (UK)
(a Charitable Company Limited by Guarantee)
Annual Report and Financial Statements For the Year Ended 31 March 2025
The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Contents
| Contents | |
|---|---|
| Page | |
| Legal and Administrative Information | 3 |
| Trustees' Report including Strategic Report | 4 |
| Statement of Trustees' Responsibilities | 9 |
| Independent Auditors' Report | 10 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 |
| Statement of Cash Flows | 15 |
| Notes to the Financial Statements | 16 |
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The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Legal and Administrative Information
| Directors and Trustees | Sir Christopher Hohn |
|---|---|
| Mr Matthew King | |
| Charity Number | 1156222 |
| Company Number | 08702259 |
| Registered Office | 7 Clifford Street |
| London | |
| W1S 2FT | |
| Banker | HSBC Bank Plc |
| 8 Canada Square | |
| London | |
| E14 5HQ | |
| Independent Auditors | PricewaterhouseCoopers |
| One Spencer Dock | |
| North Wall Quay | |
| Dublin 1 | |
| Ireland |
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The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Trustees' Report including Strategic Report
The Trustees (who are also directors for the purposes of company law) of The CH Foundation (UK) (the "Foundation") present their Annual Report, together with the audited financial statements of the Foundation for the year ended 31 March 2025. The Annual Report has been prepared to meet the requirements for a strategic and a directors' report required by company law.
The financial statements have been prepared in accordance with the accounting policies set out on pages 16 to 18 and comply with the current statutory requirements, the Charities Act 2011, the Companies Act 2006, the Articles of Association of the Foundation, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
During the prior period, the Foundation changed its accounting reference date from 28 February (29 February in a leap year) to 31 March. The financial statements are for the year ended 31 March 2025, whilst the comparatives are for the 13 month period ended 31 March 2024. Unless otherwise noted, references to "period ended 31 March 2024" in the financial statements, including the headers, are for the 13 month period from 1 March 2023 to 31 March 2024.
Strategic Report
Objectives and Mission
The objectives, as stated in the Articles of Association, are the holding of income and property upon trust and to apply the income for the public benefit for exclusively charitable objects and purposes in any part of the world.
In setting the objectives and planning its activities, the Trustees (who are also directors) have considered Section 17 of the Charities Act 2011. In doing so they are satisfied that they have complied with their duty to have regard to the Public Benefit guidance published by the Charity Commission. The activities and achievements are outlined throughout the Annual Report and the Trustees believe they fully demonstrate that the Foundation is providing public benefit.
The main objectives of the Foundation, as agreed by the Trustees, are to:
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1) provide assistance to those who are in need by reason of poverty, sickness or human suffering as a result of human trafficking or other serious or organised criminal behaviour;
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2) advance education and to promote health; and
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3) promote such other purposes being exclusively charitable as agreed by the Trustees.
Financial Review
The Trustees are satisfied with the results for the year and are of the view that the outlook of the Foundation remains positive. The Foundation's incoming resources and charitable grant expenditure remained significant during the year. All voluntary donations come from a select number of donors, each donor a related party of the Foundation. The Trustees are anticipating continued incoming donations and outgoing grants in future years.
Total incoming resources, made up of voluntary donations, gift aid, interest received and investment income, amounted to £119,276,958 (period ended 31 March 2024: £152,339,641).
During the year, the Foundation continued to fulfil its main objects by granting £100,073,511 (period ended 31 March 2024: £139,561,979).
Net incoming resources for the year increased to £19,115,427 (period ended 31 March 2024: £12,279,204). This reflects the timing of grant commitments and drawdowns, together with the timing of donation income received in the year compared with the prior period.
The Foundation recorded an unrealised gain on investments of £883,797 (2024: £3,739,783). This reflects positive market performance within the investment portfolio during the year. Investments are held at fair value based on net asset values reported by the underlying investment managers. Changes in fair value are recognised in the Statement of Financial
The Foundation recognised a foreign exchange loss of £563,959 (2024: £125,519). The increased loss primarily relates to movements in the GBP/USD exchange rate during the year, which affected the sterling value of USD cash balances held at bank. The
The asset base of the Foundation at 31 March 2025 amounted to £59,783,777 (2024: £40,348,512) and is predominantly made up of investments and cash at bank. The asset base will enable the Foundation to meet its ongoing objects. All of the Foundation's funds at the balance sheet date are unrestricted funds.
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The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Trustees' Report including Strategic Report (continued)
Achievements and Performance
During the year, the Foundation granted $89,800,000 (£69,766,439) (period ended 31 March 2024: $129,069,437 (£102,061,273)) to MANA Nutritive Aid Products Incorporated ("MANA"). MANA is a charitable organisation whose mission is to end malnutrition by producing and distributing Ready-to-Use Therapeutic Food ("RUTF") in the form of peanut butter paste. MANA is now capable of producing 500,000lbs of RUTF per day - which is enough to feed 10 million children per year. The purpose of the grants is to support MANA in expanding its production capacity and to support MANA with its working capital.
During the year, the Foundation granted $22,605,000 (£17,609,971) (period ended 31 March 2024: $5,760,000 (£4,716,170)) to the Kailash Satyarthi Children's Foundation ("KSCF"). KSCF is a charitable organisation whose mission is to end all violence against and exploitation of children. KSCF has, through concerted and sustained actions, demonstrated that the need for a child friendly society can be achieved through direct and continued grassroots level interaction. KSCF continues to fight against all kinds of child rights violation, including child labour, child trafficking and child sexual abuse. The purpose of the grants is to further KSCF's campaign against trafficking and child sexual abuse.
During the year, the Foundation granted £3,034,096 (period ended 31 March 2024: £nil) to The Children's Investment Fund Foundation (UK) ("CIFF"). CIFF is the world's largest philanthropy organisation that focuses specifically on improving children's lives. CIFF works with a wide range of partners, and areas of work include maternal and child health, adolescent sexual health, nutrition, education, deworming, tackling child slavery and exploitation, increasing opportunities for girls and young women, and supporting smart ways to slow down and stop climate change.
The total amount granted by the Foundation to CIFF consisted of a number of grants for the following charitable purposes:
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1) The Foundation committed to a sub-grant of up to $10,500,000 to CIFF to be used in conjunction with CIFF's grant to The END Fund ("END"). During the year, the Foundation granted $2,912,093 (£2,264,913) to CIFF with respect to the END project, representing the final two instalments of the commitment. The purpose of the aggregate grant is to eliminate worm infections in Ethiopia, Kenya, Rwanda and Zimbabwe, through innovation and partnership. END's goal is to break transmission of intestinal worms and schistosomiasis through mass drug administration to an expanded population of children and at-risk adults, as well as through innovation and partnerships.
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2) The Foundation committed to a sub-grant of up to $5,000,000 to CIFF to be used in conjunction with CIFF's grant to Educate Girls Globally ("Educate Girls"). During the year, the Foundation granted $1,000,000 (£769,183) to CIFF with respect to the Educate Girls project, representing the final instalment of the commitment. The purpose of the aggregate grant is to close India's education gender gap, through strengthening schools, improving leadership, and building capacities of communities so that girls and women can access quality education and livelihood options.
During the year, the Foundation granted $4,000,000 (£3,087,492) (period ended 31 March 2024: $1,000,000 (£817,782)) to Splash International Splash is a charitable organisation which aims to provide clean water and hygiene education to children in urban areas around the world. The grant during the year represents a portion of a $40,000,000 commitment by the Foundation to Splash's Project WISE Phase II East Africa. This phase of the project aims to provide sustainable, cost-effective, and scalable water, sanitation and hygiene solutions to urban public schools in Malawi, Tanzania and Zambia.
During the year, the Foundation granted $2,000,000 (£1,584,000) (period ended 31 March 2024: $1,000,000 (£804,389)) to Noora Health. Noora Health is a charitable organisation whose mission is to give proper recognition and support to family caregivers to improve health outcomes, reduce preventable complications, avoid readmissions and mortality. Across India and Bangladesh, Noora Health work in close collaboration with public health systems and local partners to implement the Care Companion Program ("CCP"). The purpose of the grant is to allow Noora Health to continue to scale their reach to 70 million family caregivers and rollout CCP to more facilities and condition areas.
During the year, the Foundation granted $2,000,000 (£1,601,204) to The Bridgespan Group Inc. ("Bridgespan"). Bridgespan is a nonprofit organisation which aims to make the world more equitable and just. The grant during the year represents a portion of a $6,000,000 commitment by the Foundation to Bridgespan's Africa project. The grant is made to Bridgespan for general operating support to scale local capabilities in Africa. The project aims to eliminate inequality and poverty in Africa.
During the year, the Foundation granted $2,000,000 (£1,543,746) to Alliance for Safety and Justice ("ASJ"). ASJ is a charitable organisation which aims to replace over-incarceration with more effective public safety solutions rooted in crime prevention, community health, rehabilitation and support for crime victims. The grant was a contribution to ASJ's "Scaling Safety" project which aims to accelerate the development of effective community-based prevention programs, to build scalable solutions that empower residents and prevent crisis from becoming crime.
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The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Trustees' Report including Strategic Report (continued)
Achievements and Performance (continued)
During the year, the Foundation granted $2,000,000 (£1,543,746) to Great Barrier Reef Foundation ("GBRF"). GBRF is a charitable organisation which aims to create a future for the coral reefs by protecting ocean habitats, restoring coral reefs and helping them adapt to the impacts of climate change. GBRF has built a collaborative organisation to raise funds, invest in innovative ideas and design real-world, scalable conservation programs that are delivering breakthroughs in marine and terrestrial restoration.
During the year, the Foundation also made two (2024: two) further grants to charitable organisations totalling £302,817 (period ended 31 March 2024: £206,331).
Future Plans
The Foundation is anticipating a continued increase in donations in the next financial year to allow it to increase its activities in the forthcoming years in order to meet the main objectives of the Foundation and to ensure that the application of any income for the public benefit is exclusively for charitable objects and purposes.
Risk Management
The Trustees are responsible for the management of the risks faced by the Foundation and have examined the major strategic, business and operational risks to which the Foundation is and may be exposed. They are satisfied that the systems and controls are in place to mitigate and manage exposure to such major risks identified by the Trustees. They continue to review current processes recognising that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
The Foundation's principal risks can be broadly grouped as follows:
Strategic risk
Strategic risks are those that arise from the decisions taken concerning the Foundation's objectives and ability to meet those objectives. The Foundation has a clear vision, mission and strategic plan that have been agreed by the Trustees. The Trustees regularly review the progress of the Foundation in relation to its vision, mission, strategic objectives and annual targets.
Operational risk
Operational risk is the risk of loss resulting from inadequate or failed internal processes and systems, or from external events. The Foundation has appropriate policies and controls in place to manage its operational risk, including system failures, fraud and theft, and failure to comply with legal, regulatory and statutory requirements.
Market risk
The Foundation's exposure to market risk is limited to currency exchange risk and price risk. The currency exchange risk arises from the investments held in currencies other than the functional currency of the Foundation. The Foundation does not actively seek to hedge its exposure to foreign exchange risk. The price risk arises on the investments due to their exposure to fluctuations in market prices (other than currency exchange risk), whether those changes are caused by factors specific to the financial instrument or its issuers, or factors affecting all similar financial instruments traded in the market.
Credit risk
The Foundation's exposure to credit risk arises mainly through its cash and cash equivalents. The Foundation holds all cash with banks whom the Foundation has strong, well-established relationships and who typically have a minimum Moody's or S&P rating of investment grade. At the reporting date, the maximum exposure to credit risk is represented by the carrying amount in the Balance Sheet.
Liquidity risk
Liquidity risk is the risk that the Foundation will encounter difficulties in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Foundation expects to meet its financial obligations through operating cash flows. In the event that the operating cash flows would not cover all the financial obligations the Foundation has cash reserves and credit facilities available.
Section 172(1) Statement
The Trustees have demonstrated their commitment to promoting the success of the Foundation. In doing so, they have diligently considered and given regard to the factors outlined in section 172(1)(a) to (f) of the Companies Act 2006, ensuring that all decisions made have long-term benefits:
Likely Consequences: The Trustees have carefully assessed the likely consequences of each decision, considering the potential outcomes and their impact on the Charity's overall objectives. They have taken a forward-thinking approach, taking into account both immediate and long-term effects.
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The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Trustees' Report including Strategic Report (continued)
Section 172(1) Statement (continued)
Business Relationships: Relationships with grant recipients, suppliers, and other relevant stakeholders, is important to the Foundation's success and charitable endeavours.
Community and environment: In their decision making, the Trustees had regard to the impact of the Foundation's operations on the community and the environment.
High Standards of Business Conduct: Upholding a reputation for high standards of business conduct is a fundamental focus for the Trustees. They have ensured that all activities and decisions align with ethical principles, legal requirements, industry best practices and the Code of Ethics and Conduct.
Structure, governance and management
Status
The Foundation was incorporated on 23 September 2013 as a charitable company limited by guarantee and registered as a charity on 17 March 2014, for exclusively charitable purposes pursuant to its Articles of Association dated 23 September 2013. The Articles of Association defines the objects and powers of the Foundation.
Organisation
The Board of Trustees meets to review and update the strategy and areas of activity, including consideration of grantmaking, a review of the reserves policy as well as the overall risk profile of the Foundation.
Fundraising
The Foundation does not seek to raise funds from the public and has not engaged with any professional fund-raiser or commercial participator to raise funds.
Trustees
The Trustees who held office during the year were:
Sir Christopher Hohn Mr Matthew King
The Trustees are selected on the basis of their skills and expertise and the contribution, in particular in the areas of business management and development, which they can make to determine the strategy and policies of the Foundation.
The Trustees are responsible for finance, development and planning. There is no formal process for training Trustees, but training is provided to individual Trustees and to the Trustees as a whole as needs arise.
All Trustees give their time freely and no Trustee remuneration was paid in the year.
Reserves Policy
The Trustees are committed to applying the resources in a responsible manner for the purposes of yielding maximum benefit.
The Trustees are aware reserves are needed to bridge the gap between the spending and receiving of income. The Trustees aim to maintain free reserves in unrestricted funds at a level that will provide sufficient funds to respond to applications for grants and ensure that support and governance costs are covered.
Restricted Funds
Restricted Funds are generated when the donor stipulates how their donation may be spent. In most cases, there will be a time lag between when such funds are received and when they are expensed. The Trustees ensure that these funds are expensed in accordance with the terms under which they have been donated to the Foundation.
During the year no amounts were donated which had restrictions placed on them (period ended 31 March 2024: £nil).
Operational Reserves
Cash flow projections for income and expenditure are regularly reviewed by the Trustees to ensure that the Foundation maintains an adequate level of disposable net assets and is able to meet all grant-making and working capital commitments for the
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Thé CH FondatIon IUKI IA Company Limiied byGu3raniee Charity Reeistration No. 1156222 Company Aegi5traticn No.. 08702259 Tru5tees' Report including Strategic Report (continuedj Reserves Polic continued Operotionol Reseryes Icontinvtdl The fesefft5 poliiy L% reviewed annualty io reassess Ihe risks and renect any chawes to tl* Foundatk)Tr's Income, capiial. financkil obligations and longterm plans forcharitsW¢ txpendituie. ThE Unre5tficled FurH$5 are exPd41e al the di5rrelK)n ofthe Board of TtU5tee5 in fvrthvarKe of the otjeit5 01 the Foundation. n¥esiment Polic Under the ArtKle5 of ASSOC110. Ehe Foundaiiofi has the powei io in¥esi in anyway the TiuSteeswh. The Trustees. havi regard 10 the "4111¥ reqviiements of the Foundatson to Ihe reseffts cyrrentty operate a palicy of keepin8 availabk funds In an Intefest bearin8 deposit acttyJnL Graniin Pol Thè TrustÈès mÈel rÈ8uL4rty to con5Kler what grants ihey Wim make 3Thd to rekniew any feeéback the¥ have reclwed The Trusiees are commitied to 3pplyin8 the Fourndation's rÈstruices In a responsible mamef lor ihÈ pufposes ol wÈklinKmaKimum beTrefit. tre4Tnlined ener C4rbon Re ortin Ener8y and carbon Itbformalion 15 ngt di%los¢d btuust the Foundation 1$ 3 tntfgy user 4$ rfered the En¥ironmeTht Aeporting Guideline5. Goin ThÈ Trusiets have considÈred the risks facjng Foundatn, the fore(ast of cash Ikyms, and ihe ve1 ol feserwes, are satisfied the Ftyjndaiion has adequate resources to tontirnue in opefationèl existehcefor a period of 31 kast twe rnonth5 Irorn the date of these linancial slaternents. For this reascMI. the foundation (ontirbues to aopi the going concern basts in preparing the liTran¢ial 5taiements. ioncern Subs uent EV1$ There have beÈn no SlÉnifan1 evert whith requirÈ furthei dtsc105ure ihe finantwl year end and the date ihese fancIal statements were authorised for issue. lode endeni AUditS The 3udiiors. Prlcewaler5ecooPer5. have expressed the¥willirb8ness io iemain in offico for a furtheT yeai. Thss report was approved by ihe board of tnJ5teos ort 11 DÈiÈmber 2025 arml syned on its hl( bv.. Matthew KinK Trustee
The CH Foundation IUK IA Cornp3ny limited byGuarantee Charity Registration No.. IIS6222 Co)Ipany Aegistralion No." 087D2259 Staternent of Trustees. Responsibilities Trustees. responslbdStles In relatlon to the ffinaNial siotements The Trustees Iwho are 3Lso direcrors of The CH Foundaiion IUKI Ithe -Ft>urnlatioh"I fty the PUTposes ¢f ¢ompaThy lawl are responsible for prepwini the Arbnual Re and Ihe financièl statements ac£orfaDce with applcable law and KUlatn. Company law iequires the Tru5tee5 lo prepare li141 51atewnellts fLY eath financial period. Unéer that law the TIu5tees have prepared thp Iall[la1 5talements accotd3ncÈ wilh Unired Kid0M Aciouniing 5tandard5. compfi5in8 FRS 102 be Finala1 Reporting standard appk3ble in UK and ftepubl of IteLind". applicable k3w (Unired Kingdom Generally AccèptÈd Accounting PractKel. Undpr comparny ihe Trvsiees must not approve the fin3ncL41 slatÈrnÈnlS unless they satisfied thai they givÈ a true ar fair view ol the stale of the aNairs of Ihe FouThlatN ahd of the in¢omifig resourtes apphcaiw)n of resoufces, includin8 the income and elpenditure. of ihe Foufidation fw that pentsd. In prepann8 these fiancl staternents. the Tru5tee5 a reouired to.. seleci 5Ultable accounti8 policies aVKI iheri apply them cons¢en11¥. olJ5ewe Ihe meth5 a1 principles in Ac£ounEbn8 and Reporting b¥ Charitie5". Staternènt of Rètommèrtdtd Practell january 20191." • Make IL8mentS and estimate5 Ihat are reèsoftab and pruOeThl: state wherher applicawe UK Accountin8 Stanéarés. comprisin8 FR5 102, have been lollowed, suect to any material depart¥re5 discloseé and Explain¢d in the finar101 statem?nis.- and prepare the liTran¢ial statemeThls OD Ihe 8oiNd concern basi5 Un55 It Is inappropTi3te to pte5UfflÈ thai the FouTrJarth will ContUe in busiTress. The Trusrees afe re5ponyble l(w keepire adÈquète attounting records thai are sufficieoi to show and explain the Foundaliorn's tr3n53Ctions and discbse with reasonable atcuracy at any lime the financial posilion of the Foundation and enable them lo ensur that the firtèncial statemenis comply wrth Companies Act 2O)6. They a a150 responsible for safeguard1t the assets ol the Foundation and hence fof talinB rea50nab step5 lor the preventitin atyj detection ol fiaud and oiher IrreguL4fiiies. The Trustees a reSnsle fcK the maintenance and irilegrity ef Foundation's website. Le81slat In ihe United Kiwdorn governing the preparation a[ dissÈmInat of financial siaiemt)rs may dther Irom i51atM)n OtheriurisdirtKI. By order uf the Board of Trustees ft£ttr-L Matthew Kini (Choir} Trusiee Date 11 DeiernbEY 2025
The CH
Foundation (UK)
Report on the audit of the financial statements
Opinion
In our opinion, The CH Foundation (UK)
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give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025 and of its net income and cash flowsfor the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland and applicable law); and
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have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements, included within the Annual Report and Financial Statements, which comprise:
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the balance sheet as at 31 March 2025;
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the statement of financial activities for the year then ended;
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the statement of cash flows for the year then ended; and
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the notes to the financial statements, which include a description of the significant accounting policies.
Basis for opinion
responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial state ments section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Independence
We remained independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
Conclusions relating to going concern
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
In auditing the financial statements, we have concluded that the Trustees preparation of the financial statements is appropriate.
However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the charitable company's ability to continue as a going concern.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Reporting on other information
The other information comprises all of the information in the Annual Report and Financial Statements other than the financial statements and our auditors’ report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance 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 an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of 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 based on these responsibilities.
With respect to the Strategic report and Trustees ’ Report, we also Companies Act 2006 and Charities Act 2011 have been included.
Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report certain opinions and matters as described below.
Strategic report and Trustees’ Report
In our opinion, based on the work undertaken in the course of the audit, the information given in the Strategic report and Trustees’ Report for the year ended 31 March 2025 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements.
In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we did not identify any material misstatements in the Strategic report and Trustees’ Report .
Responsibilities for the financial statements and the audit
Responsibilities of the Trustees for the financial statements
As explained more fully in the Trustees ’ Responsibilities Statement, 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 in accordance with the applicable framework and for being satisfied that they give a true and fair view. The Trustees are also responsible for such internal control as they 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.
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 auditors’ 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.
Our audit testing might include testing complete populations of certain transactions and balances, possibly using data auditing techniques. However, it typically involves selecting a limited number of items for testing, rather than testing complete populations. We will often seek to target particular items for testing based on their size or risk characteristics. In other cases, we will use audit sampling to enable us to draw a conclusion about the population from which the sample is selected.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Based on our understanding of the charitable company and its industry, we identified that the principal risks of non-compliance with laws and regulations related to Charities SORP 2019, FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, Charities Act 2011, Companies Act 2006 , and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journals to manipulate financial results or conceal the misappropriation of assets and potential management bias in accounting estimates and judgements. Audit procedures performed included. Audit procedures performed by the engagement team included:
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discussions with management including consideration of any known or suspected instances of non-compliance with laws and regulations and fraud;
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u irregularities and fraud;
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reviewing any correspondence with regulators, including the Charity Commission for England and Wales;
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identifying and testing journal entries, including journal entries posted with unusual account combinations to income and expenditure accounts;
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reading minutes of meetings, including for the Trustees;
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assessing significant accounting judgements and estimates, particularly those related to legacy accrued income; incorporating unpredictability into the nature, timing and extent of our testing; and
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assessing financial statement disclosures, and testing to support documentation, for compliance with applicable laws and regulations.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of noncompliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
Use of this report
T his report, including the opinions, has been prepared for and only for the charitable company’s members and trustees as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006) and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
Other required reporting
Companies Act 2006 exception reporting
Under the Companies Act 2006 we are required to report to you if, in our opinion:
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we have not obtained all the information and explanations we require for our audit; or
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adequate accounting records have not been kept by the charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
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certain disclosures of Trustees
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the charitable company financial statements are not in agreement with the accounting records and returns.
We have no exceptions to report arising from this responsibility.
Aisling Meagher
for and on behalf of PricewaterhouseCoopers Chartered Accountants and Statutory Auditors Dublin 11 December 2025
The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Statement of Financial Activities for the Year Ended 31 March 2025
| Note Income |
Year Ended 31 March 2025 £ |
Period Ended 31 March 2024 £ |
|---|---|---|
| Donations | 118,770,725 | 152,145,861 |
| Investment income Total income Expenditure on charitable activities 4 Other expenditure 5 Total expenditure 8 Gain on investments 10 Loss on foreign exchange Net movement in funds Reconciliation of funds Total funds brought forward 15 Total funds carried forward Expenditure Net income |
506,233 119,276,958 (100,126,731) (34,800) (100,161,531) 19,115,427 883,797 (563,959) 19,435,265 40,348,512 59,783,777 |
193,780 |
| 152,339,641 (139,596,091) (464,346) |
||
| (140,060,437) | ||
| 12,279,204 | ||
| 3,739,783 (125,519) |
||
| 15,893,468 | ||
| 24,455,044 | ||
| 40,348,512 |
The Statement of Financial Activities has been prepared on the basis that all activities are continuing.
The Foundation had no restricted or endowment funds during the year; accordingly, all income and expenditure presented in the Statement of Financial Activities relates to unrestricted funds.
There are no recognised gains and losses other than those included in the results above and therefore no separate statement of total recognised gains and losses has been presented.
The accounting policies and the notes on pages 16 to 22 form part of the Financial Statements.
13
The CH Foundation IUKI IA Company Limitecl by Guarantee Charity RegtratiOn No.. 1156222 Company Re8151ration No". 08702259 Balance Sheet as at 31 March 2025 31 hAèrch 202S 31 Mèrch 2024 Note Fhed assets TaThglblass•ts Investment5 Total fixed assets io 21,3?2.274 21.372.274 20.488,477 20.488.477 Current ¥sets Debio Cash al bank and in hafyj Totsi <urr¢nt •ssrfs li 10,027,776 28.626.808 38.654.584 3.254.660 23.354.066 26,608.726 Liabili¢ie5 cr0dito. amounis laffin8 due withm Le 31 Net current 355ets 12 1213.0811 38.411.503 16,748.6911 19.860.035 Totsl nel o55ets 59.783.777 40.348.512 The funds of the Foundat)Th'. Unre51rrred Funds Totsl Foundation funds 15 59.783,777 59,783,777 40,348,512 40,348,512 The accounting pd1( alld the noies on Pages 16 10 22 foffrn part of rhe FiThanclal Staternenl5, The Financial Statements were approved by ihe Twstees ènd auihortsed for issue on 11 Oecember 2025 and ort the* behalf Matthew Kr Trustee 14
The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Statement of Cash Flows for the Year Ended 31 March 2025
| Note Net cash generated by operating activities 16 Cash flow from investing activities Assets acquired for donation 9 Net cash used in investing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year/period Cash and cash equivalents at the end of the year/period Cash and cash equivalents consists of: Cash at bank and in hand |
Year Ended 31 March 2025 £ 5,272,742 - - 5,272,742 23,354,066 28,626,808 28,626,808 |
Period Ended 31 March 2024 £ |
|---|---|---|
| 57,756,935 | ||
| (34,689,008) | ||
| (34,689,008) | ||
| 23,067,927 286,139 |
||
| 23,354,066 | ||
| 23,354,066 |
The Foundation did not hold any debt instruments such as loans or finance leases during the year, and as such no debt is presented in the analysis below:
| in the analysis below: | ||
|---|---|---|
| Cash at bank and in hand | 1 April 2024 Cash Flows £ £ 23,354,066 5,272,742 23,354,066 5,272,742 |
31 March 2025 £ |
| 28,626,808 | ||
| 28,626,808 |
The accounting policies and the notes on pages 16 to 22 form part of the Financial Statements.
15
The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Notes to the Financial Statements
1 General information
The CH Foundation (UK) (the "Foundation") is a Charitable Company limited by guarantee, registered in England and Wales. The address of its registered office is 7 Clifford Street, London, W1S 2FT.
During the prior period, the Foundation changed its accounting reference date from 28 February (29 February in a leap year) to 31 March. The financial statements are for the year ended 31 March 2025, whilst the comparatives are for the 13 month period ended 31 March 2024. Unless otherwise noted, references to "period ended 31 March 2024" in the financial statements, including the headers, are for the 13 month period from 1 March 2023 to 31 March 2024.
2 Statement of compliance
The financial statements have been prepared in accordance with Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Foundation 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 note.
3 Accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.
(a) Legal status
The Foundation is a company limited by guarantee and in the event of it being wound up each member is liable to contribute a sum not exceeding £10. There are no shares of any class, either authorised or allocated.
(b) Going concern
The Trustees have considered the risks facing the Foundation, the forecast of cash flows, and the level of reserves, and are satisfied the Foundation has adequate resources to continue in operational existence for a period of at least twelve months from the date of these financial statements. For this reason, the Foundation continues to adopt the going concern basis in preparing the financial statements.
(c) Income
Income is included in the respective line items of the Statement of Financial Activities when the Foundation has entitlement to the income, it is probable that the economic benefits associated with the transaction will flow to the Foundation and the amount can be quantified with reasonable certainty.
Donations are recognised as income when the Foundation has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. Donations are generally unconditional and therefore recognised on receipt. Where donations include conditions that require a specific performance obligation to be met before the Foundation is entitled to the funds, income is deferred until such conditions are satisfied.
Gift Aid recoverable on donations is recognised as income when the associated donation is recognised, provided that the Foundation has a valid Gift Aid declaration from the donor and it is probable that the amount will be recovered.
(d) Gifts in kind and donated services
Gifts in kind and donated services are valued and included, where material, in the financial statements. The contribution of volunteers has been excluded from the Statement of Financial Activities as the value of their contribution to the Foundation cannot be reasonably quantified in financial terms. Due to the immaterial nature of donated services and the difficulty in quantifying the financial impact of them in the current year, there were no amounts included in respect of them.
(e) Expenditure
Expenditure is accounted for on an accruals basis. Constructive obligations (including grants payable) are accounted for as liabilities where it is probable that there will be a transfer of economic benefits and the amount of the obligation can be reliably estimated and communicated to the recipient. Costs of charitable activities comprise all costs incurred in the pursuit of the charitable objects. These costs, where not wholly attributable, are apportioned between the categories of charitable expenditure in addition to the direct costs.
16
The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Notes to the Financial Statements (continued)
3 Accounting Policies (continued)
(f) Support and governance costs
Support costs are those costs which do not relate directly to a single activity. Governance costs are those costs incurred in the compliance with constitutional and statutory requirements including related professional fees, and are accounted for on an accruals basis. These costs are included under the heading charitable activities in the Statement of Financial Activities.
Support and governance costs have been apportioned between charitable activities on an expenditure basis, whereby the costs are allocated proportionate to the nature of the grant funded activity.
(g) Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into pound sterling at the rates of exchange ruling at the Balance Sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of transaction. All differences are taken to the Statement of Financial Activities.
(h) Funds
Unrestricted Funds comprise those funds which the Trustees are free to use in accordance with the charitable objectives of the Foundation.
Restricted Funds comprise those funds that can only be used for particular restricted purposes within the objectives of the Foundation. Restricted Funds arise when the funds are specified as such by the donor(s) or when funds are raised for particular restricted purposes. The Foundation does not currently hold any restricted funds.
Expendable Endowment Funds include all funds received which the Trustees are authorised to spend when and if they decide to spend these funds. The funds may be used to further the specific charitable purposes the Foundation was established to support. These costs can include both direct and support costs associated with activities undertaken by the restricted funds within the Foundation. The Foundation does not currently hold any expendable endowment funds.
(i) Tangible fixed assets
Tangible fixed assets are recognised when it is probable that the expected future economic benefits associated with the asset will flow to the Foundation and the cost or fair value of the asset can be measured reliably.
(j) Investments
Investments comprise non-controlling interests in investment funds which are measured at fair value. The fair value of the investments are determined by the net asset value of each fund as at the reporting period end date. Changes in fair value are recognised in the Statement of Financial Activities.
(k) Cash and cash equivalents
Cash and cash equivalents includes cash in hand and bank overdrafts. Bank overdrafts, where applicable, are shown within borrowings in current liabilities.
(l) Financial instruments
The Foundation has chosen to adopt Section 11 of FRS 102 in respect of financial instruments.
(i) Financial assets and investments
Basic financial assets, including receivables, and cash and cash equivalents, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the original effective interest rate. The impairment loss is recognised in the Statement of Financial Activities.
Other financial assets, including investments, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
17
The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Notes to the Financial Statements (continued)
3 Accounting Policies (continued)
(l) Financial instruments (continued)
(ii) Financial liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
(m) Critical accounting judgements and estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Foundation's accounting policies.
The fair value of the investments in the investment funds are determined by the proportionate interest of the net asset value of each investment fund as at the reporting period end date. The Trustees place reliance on the accuracy of the net asset value of the investment funds, determined by the boards of the investment funds and, if applicable, appointed external valuers. The key accounting judgements and estimates in determining the net asset value of the investment funds are the fair value measurements of the financial instruments held by the investment funds.
The valuation of unquoted investments is based on an independent valuation of the investments, based on the underlying asset values in the accounts of the unquoted investment entity. There is a level of estimation involved in these valuations. The Trustees review the individual valuations applied which includes subsequent performance of the investment and takes account of advice provided by external investment advisors.
4 Expenditure on charitable activities
| Humanitarian aid Advancement of education and promotion of health Environmental Analysis of support and governance costs Governance costs Office expenses 5 Other expenditure Professional fees Interest expense |
Grant funded activity Support & governance Year Ended 31 March 2025 £ £ £ 19,153,717 10,186 19,163,903 79,376,049 42,213 79,418,262 1,543,745 821 1,544,566 100,073,511 53,220 100,126,731 General support Governance function Year Ended 31 March 2025 £ £ £ - 39,187 39,187 14,033 - 14,033 14,033 39,187 53,220 Year Ended 31 March 2025 £ 34,800 - 34,800 |
Period Ended 31 March 2024 £ |
|---|---|---|
| 4,717,323 134,878,768 - |
||
| 139,596,091 Period Ended 31 March 2024 £ |
||
| - 39,187 14,033 - |
20,000 14,112 |
|
| 14,033 39,187 |
34,112 Period Ended 31 March 2024 £ |
|
| - 464,346 |
||
| 464,346 |
The professional fees relate to advice received on the gift aid repayable to HMRC during the prior period. The interest expense in the prior period represents interest on gift aid repayable to HMRC.
18
The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Notes to the Financial Statements (continued)
6 Staff costs
The Foundation had no employees during the year (period ended 31 March 2024: nil).
The Foundation considers its key management personnel to comprise of the Trustees. The Trustees were not paid, nor received any benefits, from the Foundation during the period (period ended 31 March 2024: £nil). The Trustees were not reimbursed expenses during the period (period ended 31 March 2024: £nil). No Trustee received payment for professional or other services supplied to the Foundation (period ended 31 March 2024: £nil).
7 Taxation
The Foundation is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
8 Net income
| 8 Net income | ||
|---|---|---|
| Net income is stated after charging: Gift aid reduction Fees payable to the Foundation's auditors for the audit of the financial statements |
Year Ended 31 March 2025 £ - 24,500 |
Period Ended 31 March 2024 £ |
| 6,158,647 20,000 |
9 Assets acquired for donation
During the prior period, the Foundation entered into a real estate purchase agreement to acquire a property in the USA for a purchase price, inclusive of transaction costs and taxes, of $44,069,437 (£34,689,008). The Foundation also entered into a donation agreement with MANA Nutritive Aid Products Incorporated ("MANA"), a charitable organisation registered in the USA, to grant the rights, title and interest in the property to MANA. The property was donated to MANA during the prior period.
The Foundation did not recognise the property as a tangible fixed asset on the basis there was no economic benefit to the Foundation from the property on an on-going basis.
| Land and buildings Acquisitions Donations 10 Investments Brought forward Gain on financial assets at fair value Carried forward Carried forward Brought forward |
Year Ended 31 March 2025 £ - - - - Year Ended 31 March 2025 £ 20,488,477 883,797 21,372,274 |
Period Ended 31 March 2024 £ |
|---|---|---|
| - 34,689,008 (34,689,008) |
||
| - | ||
| Period Ended 31 March 2024 £ |
||
| 16,748,694 3,739,783 |
||
| 20,488,477 |
Investments represent subscriptions in two (31 March 2024: two) unlisted investment funds and a non-controlling interest in a limited liability partnership incorporated in England and Wales (the "LLP"). The fair value of the investments are determined by the net asset value of the unlisted investment funds and the LLP as at the reporting period end date. Changes in fair value are recognised in the Statement of Financial Activities.
At the year end, the value of the investment in one of the unlisted investment funds was £4,507,872 (31 March 2024: £4,673,776). The unlisted investment fund provides debt financing to financial institutions and water and sanitation enterprises providing water supply and sanitation microloans, products, or services to families living in India, Indonesia, Cambodia, and the Philippines. The unlisted investment fund expects to reach 4.6 million people with safe water or sanitation over its seven year life.
At the year end, the value of the investment in the other unlisted investment fund was £15,680,352 (31 March 2024: £14,707,435).
At the year end, the value of the Foundation's non-controlling interest in the LLP was £1,184,050 (31 March 2024: £1,107,266).
19
The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Notes to the Financial Statements (continued)
11 Debtors
| Loans receivable Other receivables Accrued income Prepayments |
31 March 2025 £ 1,383,396 7,917 8,636,296 167 10,027,776 |
31 March 2024 £ |
|---|---|---|
| 336,572 7,917 2,897,706 12,465 |
||
| 3,254,660 |
Accrued income represents gift aid on donations received during the year/period.
Loans receivables are falling due after more than one year.
12 Creditors: amounts falling due within one year
| 12 Creditors: amounts falling due within one year | ||
|---|---|---|
| Amounts owed to related parties Trade payables Accruals Other payables |
31 March 2025 £ 183,781 34,800 24,500 - 243,081 |
31 March 2024 £ |
| 105,672 26 20,000 6,622,993 |
||
| 6,748,691 |
The amounts owed to related parties are unsecured, interest free and repayable on demand.
Other payables at the prior period end represent gift aid, including interest, repayable to HMRC.
13 Financial instruments
| 13 Financial instruments | ||
|---|---|---|
| Financial assets at fair value Financial assets that are debt instruments, measured at amortised cost: Loans receivable Other receivables Financial liabilities measured at amortised cost: Trade payables |
31 March 2025 £ 21,372,274 1,383,396 7,917 1,391,313 34,800 |
31 March 2024 £ |
| 20,488,477 336,572 7,917 |
||
| 344,489 26 |
14 Financial risk management
The Foundation's financial activities may expose it to a variety of financial risks, broadly grouped as market risk, credit risk and liquidity risk.
Market risk
The Foundation's exposure to market risk is limited to currency exchange risk and price risk. The currency exchange risk arises from the investments held in currencies other than the functional currency of the Foundation. The Foundation does not actively seek to hedge its exposure to foreign exchange risk. The price risk arises on the investments due to their exposure to fluctuations in market prices (other than currency exchange risk), whether those changes are caused by factors specific to the financial instrument or its issuers, or factors affecting all similar financial instruments traded in the market.
Credit risk
The Foundation's exposure to credit risk arises mainly through its cash balances and loan receivable. The Foundation will hold all cash with banks whom the Foundation has strong, well-established relationships and who typically have a minimum Moody's or S&P rating of investment grade. The Foundation monitors the borrower's financial performance on a quarterly basis. At the reporting date, the maximum exposure to credit risk is represented by the carrying amount in the Balance Sheet.
20
The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Notes to the Financial Statements (continued)
14 Financial risk management (continued)
Liquidity risk
Liquidity risk is the risk that the Foundation will encounter difficulties in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Foundation expects to meet its financial obligations through operating cash flows. In the event that the operating cash flows would not cover all the financial obligations the Foundation has cash reserves and credit facilities available.
15 Unrestricted funds
| Unrestricted 16 Notes to the Statement of Cash Flows Net income for the financial year/period Adjustments for: Donation of assets (non-cash movement) Gain on financial assets at fair value (Increase)/decrease in debtors (Decrease)/increase in creditors Net cash generated by operating activities |
1 April 2024 Incoming Resources Resources Expended £ £ £ 40,348,512 119,596,796 (100,161,531) 40,348,512 119,596,796 (100,161,531) Year Ended 31 March 2025 £ 19,435,265 - (883,797) (6,773,116) (6,505,610) 5,272,742 |
31 March 2025 £ |
|---|---|---|
| 40,348,512 119,596,796 |
59,783,777 | |
| 40,348,512 119,596,796 |
59,783,777 Period Ended 31 March 2024 £ |
|
| 15,893,468 34,689,008 (3,739,783) 4,294,186 6,620,056 |
||
| 57,756,935 |
17 Financial commitments and contingent liabilities
The Foundation had total commitments at the year end of £68,996,973 (31 March 2024: £9,434,487). The total commitments consist of grant commitments and investment commitments. The Foundation will fund the commitments through existing cash balances and future donations received.
The Foundation entered into grant agreements with charitable organisations and made grants available as drawdown facilities over the grant terms. The grant commitments at the year end represent the remainder of the total committed grants that the charitable organisations have not drawdown. At the year end, the grant commitments totalled £38,056,379 (31 March 2024: £9,434,487).
The Foundation had investment commitments at the year end of £30,940,594 (31 March 2024: £nil). The investment commitments represent a subscription entered by the Foundation into a closed-ended investment fund. No amounts were paid by the Foundation prior to the year end.
The Foundation had no contingent liabilities at 31 March 2025 (31 March 2024: £nil).
18 Related party transactions
During the year, the Foundation received donations without conditions of £113,032,135 (period ended 31 March 2024: £155,085,979) from related parties.
During the year, the Foundation made charitable grants to The Children's Investment Fund Foundation (UK) ("CIFF") of £3,034,096 (period ended 31 March 2024: £nil). CIFF is related due to C. Hohn being a trustee of CIFF.
At the year end, the Foundation has received profit distribution advances from the LLP totalling £183,781 (31 March 2024: £105,672). The amount is recognised as a liability until the LLP allocates the profits. The LLP is related through C. Hohn being a trustee of the LLP's controlling party.
19 Controlling party
The controlling party are the Trustees acting in the General Meeting.
21
The CH Foundation (UK) (A Company Limited by Guarantee)
Charity Registration No: 1156222 Company Registration No: 08702259
Notes to the Financial Statements (continued)
20 Subsequent events
There have been no significant events which require further disclosure since the financial year end and the date these financial statements were authorised for issue.
22