**Charity registration number 1063835**
**Company registration number 03398543 (England and Wales)**
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2022**
## **AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Dr A Massoud||
|---|---|---|
||Mr K Dawas||
||Dr L Nashef||
||Dr R Charif||
||Dr A Awwad||
||Dr A Misbahuddin||
||Mr N Serougi||
||Mrs Y Tabbakh||
||Ms E Simon||
||Mr N J R Chia||
||Ms E V Keating|(Appointed 15 April 2022)|
||Mr R Niven|(Appointed 14 April 2022)|
|**Secretary**|Mrs S Nather||
|**Charity number**|1063835||
|**Company number**|03398543||
|**Registered office**|86-90 Paul Street||
||London||
||EC2A 4NE||
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 5|
|Independent examiner's report|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes to the financial statements|9 - 14|
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
The trustees present their report and financial statements for the year ended 31 December 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
## **Objectives and activities**
The Foundation for Al-Quds University Medical School (FQMS) was incorporated on 3[rd] July 1997 as a company limited by guarantee No 3398543. FQMS received registration of it charitable status from the Charity Commissioners on 7[th] August 1997 with the registered charity number 1063835.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
This report covers the period between 1[st] January and 31[st] December 2022.
The Foundation for Al-Quds University Medical School (FQMS) was incorporated on 3[rd] July 1997 as a company limited by guarantee No 3398543. FQMS received registration of its charitable status from the Charity Commissioners on 7[th] August 1997 with the registered charity number 1063835. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. This report covers the period between 1[st] January and 31[st] December 2022.
The 25th AGM of the Foundation was held on 22 September 2022 on a virtual online platform (Zoom). Khaled Dawas chaired the meeting. The remaining Trustees for the period were Dr Ahmed Massoud (vice Chair), Dr Rawya Charif, Dr Awwad Awwad, Dr Lina Nashef, Dr Anjum Misbahuddin (vice Chair), Mr Neil Serougi, Ms Electra Simon, Mr Naseer Chia, Mrs Emma Keating, Mr Bob Niven and Dr Yasmin Tabbakh. Miss Rita Leonard (Operations Manager) also attended.
The FQMS Trustees met at regular intervals in 2022 virtually and in person. The meetings were held on:
- 9th January 2022– online meeting
- 14th April 2022– online meeting
- 28th June– online meeting
- 22nd September – online Annual General Meeting (AGM)
- 3rd September– in person
In between formal meetings, Trustees conducted the business of the charity with monthly email contact.
The Professional Development Funding Conference and Courses Subcommittee was comprised of Ahmed Massoud and Emma Keating. Neil Serougi is responsible for governance, political outreach, and events outside London. Responsibility for postgraduate trainee affairs was held by Lina Nashef and Naseer Chia. The Madrinha Trust liaison by Khaled Dawas. Electra Simon and Yasmin Tabbakh set up the social media subcommittee. The fund-raising and social events were organised by a sub-committee chaired by Anjum Misbahuddin and comprised Electra Simon, Rawya Charif, Lina Nashef, Khaled Dawas and Bob Niven.
Rita Leonard has been the sole salaried employee at FQMS from 2014 until November 2022. Mrs Shereen Nather joined FQMS on December 19th 2022, as Operations Manager. Mr Ziad Dawas was appointed voluntary treasurer in October 2022.
A total of four events were held in 2022, as detailed below:
On 19th March, FQMS held a dinner at Home House in Central London. A classical eastern / Arabic music band performed during the evening.
On 19th May, a joint event was organised by FQMS and Larissa von Planta in her studio in Battersea. During this event, LVPx provided individual design consultations and guests were able to drop off their garments and homeware to be handembroidered by LVPx. It is an upcycling initiative that provides sustainable income for artisans’ refugees in Lebanon. Neil Serougi, one of FQMS' trustees, spoke about our work in Palestine. Live music was performed by Lina Shahin, Walid Zaido, and Sanaa Wahab.
- 1 -
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
On 18th June 2022, the FQMS annual fundraising Gala dinner was held at the Savile Club in London. There were speeches from two FQMS trainees Dr Naim Qamhia (Haematopathologist at Southmead Hospital, Bristol) and Dr Nidal Somera (Urologist at Addenbrooks Hospital, Cambridge). Additionally, there were two performances by the Elise Trio (students from the Royal Academy of Music) and by the Syrian Masters.
On 17th November 2022, FQMS organised a successful Palestine poster event at the University of Exeter. This event raised extra income for the charity and attracted attendance from supporters in the southwest of England.
FQMS Trustee Bob Niven visited the West Bank in May 2022 for the purpose of conducting site visits and strengthening collaboration with our medical schools' partners in Nablus and Jerusalem. Each visit consisted of meetings with the Dean and senior members followed by a tour of various facilities (including demonstrations of the equipment purchased by FQMS at the anatomy units).
Regular contact with the FQMS partners and beneficiaries was maintained by email. The Trustees are confident that the charity’s funds and projects have been delivered as expected and in good faith.
Financial governance remained tight and transparent. Medical elective programmes were not funded in 2022. The Trustees elected to divert the funds from the elective programme to the bursary and graduate debt relief programmes again, in a repeat of the decision made in 2021. The increasing poverty across the world was mirrored in the OPT thus placing extra pressure on the Palestinian students and beneficiaries of FQMS.
FQMS activities comprised support for undergraduates and postgraduate training. This year, these include the following:
The postgraduate training programme in partnership with Juzoor (funded by the Arab Fund for Economic and Social Development) remains strong in its delivery and is growing in reputation amongst Palestinian senior trainees. The training was no doubt compromised for all doctors during COVID19 emergency redeployments. FQMS has made the case for extending the training of these international fellows where possible. The UK NHS Trusts benefited from the valuable contribution of senior clinicians at no cost to the taxpayer during the pandemic. The trainees who were working during the pandemic received NHS funded roles so they could make up the time they lost in their training. The support for postgraduate training continued with one new trainee arriving in 2022.
- Paediatrician specialising in Paediatric Cardiology at Southampton (University Hospital) - started 2015. Has returned to an NHS post and is still being overseen in a mentorship relationship by FQMS. He is not expected to return to Palestine before 2024.
- Interventional Radiology trainee – started in May 2018 in London (Kings College London NHS Trust (KCL)). Completed training in 2020 and has taken an NHS funded extension with the agreement of Juzoor. He is not expected to return to Palestine before September 2023.
- Endocrine Surgery– Kings College Hospital, London – funding will end in January 2024.
Five postgraduate trainees returned to Palestine in 2022 after completing their training. With their expertise and knowledge, these professionals will contribute significantly to Palestine's healthcare system. Furthermore, the experience they gain abroad will help them further hone their skills and provide the best care possible to their patients.
- Respiratory medicine trainee – started at Southampton (University Hospital) in May 2019. In 2021, after his initial training period ended, he took up an NHS funded training role for additional experience with the approval of Juzoor for one extra year till spring 2022. He returned in April 2022.
- Upper Limb Orthopaedic Surgery trainee – started in Reading (Royal Berkshire Hospital) in August 2020 and transferred his fellowship to the USA in mid 2021. He returned in August 2022.
- Haemato-oncology trainee – started in Bristol in October 2019. In 2020, his programme funding was paused when he gained an NHS funded role until 2022. He returned in August 2022.
- Endocrinology trainee – started in London (KCL) in September 2019. In 2021, his initial training period ended, as his training was greatly affected by COVID19 the Board agreed to continue his funding through a different fund while his NHS funded post was agreed. The NHS funded post began in December 2021. He returned in August 2022.
- 2 -
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
- Urology trainee – started in Cambridge (Addenbrooks Hospital) in September 2020, funding ended in September 2022.
- Neurosurgery trainee – started in 2000, after completing a PhD and full UK training programme, has returned to help set up a specialist neurosurgery centre in the north of the West Bank.
Bursaries for students based on merit and need (West Bank and Gaza). In 2022, 64 talented medical students received bursaries ($700-$900 each) to pay for their tuition. These students have demonstrated exceptional academic performance and are in extreme financial need. The bursary funds were distributed among students from the Islamic University of Gaza (IUG), An-Najah University and Al-Quds University. This financial aid was crucial to these students as they pursue their studies and reach their educational goals.
In 2022, FQMS provided financial assistance to the IUG to buy equipment necessary for teaching medical students. This came as students increased to 1000. This made it necessary to provide more lecture rooms on campus and in hospitals. In addition, many old equipment, such as laptops and LCD projectors, became increasingly obsolete, requiring frequent maintenance. By providing financial assistance, the IUG was able to purchase the equipment and avoid problems that could have adversely affected teaching quality. This included the purchase of 5 LCD smart screens 65 ̋, 1 LCD smart screen 75 ̋, 9 laptops, 2 LCD projectors. FQMS sourced these items locally in Gaza.
Funding for student transport in Gaza continued. The Bryan Guinness Charitable Trust supported the project with £5,000.
Administration of Madrinha Trust Scholarships is facilitated by FQMS. In 2022, the Madrinha Trust partnership funded another 3 students who were awarded 100% fee sponsorship per annum. Six students successfully completed their studies and graduated from universities in 2022. Three of these students were awarded the 2022 MADRINHA TRUST GOLD AWARD for their hard work, excellence, and achievements.
In 2020, FQMS started a new programme funding teaching fellowships at universities in Palestine. In 2022 two fellows were appointed at the IUG.
Conference Support programme continues to encourage medical students by offering financial aid to medical students and young doctors to present their research at international conferences. This helps to create a strong academic profile for Palestinian medicine and encourages medical research capacity development.
The pandemic, in combination with the war in May 2021, has caused a catastrophic deterioration of the economic situation in Gaza with a 50% unemployment rate. In 2022, FQMS supported 14 graduates in Gaza experiencing hardship and unable to pay their remaining fees, through a graduate debt relief programme.
Oxford University Surgeons and Physicians went on their annual teaching week to Gaza in October 2022. They taught medical students from both universities (Al Azhar and the IUG). Their presence also reminded students and faculty are not forgotten. FQMS funded 11 physicians and surgeons to the tune of almost £12,000.
Further risk management measures were conducted. The four medical schools were sent contracts outlining the FQMS funded projects with identification of their respective responsibilities and duties. At Al Azhar, concerns were raised about the delay in crediting student accounts with funds donated by FQMS. A meeting was held with a trustee of the university (Dr Maged Abu Ramadan) and students from the student body (IFMSA). It was agreed that Al Azhar (as with the other 3 medical schools) would have to agree to FQMS contracts of engagement, and these would be signed by senior university officials before any financial transactions are conducted. Al Azhar’s contract was signed in October 2022 and thus funds were released after that date.
For the preparation of the accounts, which form part of this report, the Trustees thank our Operations Manager Shereen Nather and Treasurer Ziad Dawas. FQMS congratulates the Deans and all their colleagues and students for continuing progress in the face of immense difficulties.
FQMS is proud of its continued partnership with the Arab Fund and Juzoor. We are also very grateful to our partner the Madrinha Trust for funding generous scholarships and mentoring deserving medical students in the OPT.
- 3 -
## **AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
Many supporters, not specifically mentioned, have made extremely generous donations to the charity as well as giving of their time and skills. The Trustees are grateful for all their support and encouragement without which much of the charity’s work would not be possible. We remain committed to the development of FQMS in expertise and service towards its objective of furthering medical education. FQMS and it’s Trustees are dedicated to collaborative working with partners who eschew the same goals of developing good medical education and leaders of the future.
## Khaled Dawas
Chairman of Trustees, FQMS
Date
- 4 -
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Financial review**
It is FQMS policy to make sure that the unrestricted funds are maintained at a level to fund a full year of activities and projects in view of the difficulties encountered in transferring funds to Palestine. As an example, funding for the substantial postgraduate training programme originates in the Middle East and is subject to significant delays.
However, FQMS is committed to rapid use of its charitable funds for the agreed projects and maintenance of as small a financial reserve as possible. FQMS will be increasing funding on several projects, as well as considering new key projects in the coming year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Dr A Massoud
Mr K Dawas Dr L Nashef Dr R Charif Dr A Awwad Dr A Misbahuddin Mr N Serougi Mrs Y Tabbakh Ms E Simon Mr N J R Chia Ms E V Keating (Appointed 15 April 2022) Mr R Niven (Appointed 14 April 2022)
Approved by order of the board of trustees and signed on its behalf by:
..............................
## **Mr K Dawas**
Trustee Dated: .........................
- 5 -
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
I report to the trustees on my examination of the financial statements of Al Quds Foundation for Medical Schools in Palestine (the charity) for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Dated: .........................
- 6 -
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
103,702
143,934
Investments
**3**
3,326
-
**Total income**
107,028
143,934
**Expenditure on:**
Raising funds
**4**
55,172
-
Charitable activities
**5**
43,648
152,828
**Total expenditure**
98,820
152,828
Gross transfers
between funds
-
-
**Net income/(expenditure) for**
**the year/**
**Net movement in funds**
8,208
(8,894)
Fund balances at 1 January
2022
247,620
417,857
**Fund balances at 31**
**December 2022**
255,828
408,963|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
247,636
125,818
349,014
3,326
63
-
250,962
125,881
349,014
55,172
47,708
-
196,476
15,658
264,330
251,648
63,366
264,330
-
61,993
(61,993)
(686)
124,508
22,691
665,477
123,112
395,166
664,791
247,620
417,857|**Total**
**2021**
**£**
474,832
63|
|---|---|---|
|||474,895|
|||47,708|
|||279,988|
|||327,696|
|||-
147,199
518,278|
|||665,477|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 7 -
## **AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2022**
|**Notes**
**Fixed assets**
Tangible assets
**9**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**11**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**12**
Unrestricted funds|**2022**
**£**
96,555
589,025
685,580
(22,420)|**£**
1,631
663,160
664,791
408,963
255,828
664,791|**2021**
**£**
21,226
644,245
665,471
(2,277)|**£**
2,283
663,194|
|---|---|---|---|---|
|||||665,477|
|||||417,857
247,620|
|||||665,477|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
..............................
Mr K Dawas **Trustee**
## **Company registration number 03398543**
- 8 -
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
**NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 Accounting policies**
## **Charity information**
Al Quds Foundation for Medical Schools in Palestine is a private company limited by guarantee incorporated in England and Wales. The registered office is 86-90 Paul Street, London, EC2A 4NE.
## **1.1 Accounting convention**
The accounts have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## **1.5 Expenditure**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
- 9 -
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 Accounting policies**
**(Continued)**
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
IT Equipment
25% straight line
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
- 10 -
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
- **1 Accounting policies 1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
**(Continued)**
## **2 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
103,702
143,934
Government grant
income
-
-
103,702
143,934|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
247,636
116,709
349,014
-
9,109
-
247,636
125,818
349,014|**Total**
**2021**
**£**
465,723
9,109|
|---|---|---|
|||474,832|
**3 Investments**
|**4**|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2022**
**2021**
**£**
**£**
Interest receivable
3,326
63
**Raising funds**
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2022**
**2021**
**£**
**£**
Fundraising and publicity
Admin expenses
3,849
3,592
Accountancy fees
2,400
2,040
Exchange rate gain/(loss)
(4,016)
2,550
Other fundraising costs
14,604
642
Staff costs
37,683
38,558
Depreciation
652
326
Fundraising and publicity
55,172
47,708
55,172
47,708|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2022**
**2021**
**£**
**£**
Interest receivable
3,326
63
**Raising funds**
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2022**
**2021**
**£**
**£**
Fundraising and publicity
Admin expenses
3,849
3,592
Accountancy fees
2,400
2,040
Exchange rate gain/(loss)
(4,016)
2,550
Other fundraising costs
14,604
642
Staff costs
37,683
38,558
Depreciation
652
326
Fundraising and publicity
55,172
47,708
55,172
47,708|
|---|---|---|
|||47,708|
|||47,708|
- 11 -
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **5 Charitable activities**
|Depreciation and impairment
Support costs for students
**Analysis by fund**
Unrestricted funds
Restricted funds|**2022**
**£**
-
196,476
196,476
196,476
43,648
152,828
196,476|**2021**
**£**
26,768
253,220|
|---|---|---|
|||279,988|
|||279,988|
|||15,658
264,330|
|||279,988|
## **6 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **7 Employees**
The average monthly number of employees during the year was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
||1|1|
|**Employment costs**|**2022**|**2021**|
||**£**|**£**|
|Wages and salaries|36,657|37,617|
|Social security costs|98|-|
|Other pension costs|928|941|
||37,683|38,558|
There were no employees whose annual remuneration was more than £60,000.
## **8 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
- 12 -
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**9**
**Tangible fixed assets**
**Cost**
At 1 January 2022
At 31 December 2022
**Depreciation and impairment**
At 1 January 2022
Depreciation charged in the year
At 31 December 2022
**Carrying amount**
At 31 December 2022
At 31 December 2021
**10**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**11**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Accruals and deferred income|**IT Equipment**
**£**
2,609
2,609
326
652
978
1,631
2,283
**2022**
**2021**
**£**
**£**
80,384
5,909
9,051
15,317
7,120
-
96,555
21,226
**2022**
**2021**
**£**
**£**
1,517
-
18,903
277
2,000
2,000
22,420
2,277|**IT Equipment**
**£**
2,609
2,609
326
652
978
1,631
2,283
**2022**
**2021**
**£**
**£**
80,384
5,909
9,051
15,317
7,120
-
96,555
21,226
**2022**
**2021**
**£**
**£**
1,517
-
18,903
277
2,000
2,000
22,420
2,277|
|---|---|---|
|||2,609|
|||326
652|
|||978|
|||1,631|
|||2,283|
|||**2021**
**£**
5,909
15,317
-|
|||21,226|
|||**2021**
**£**
-
277
2,000|
|||2,277|
- 13 -
**AL QUDS FOUNDATION FOR MEDICAL SCHOOLS IN PALESTINE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **12 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
||||**Movement in funds**|**Movement in funds**||**Movement in funds**|**Movement in funds**||
|---|---|---|---|---|---|---|---|---|
||**Balance at**||**Incoming**|**Resources**|**Balance at**|**Incoming**|**Resources**|**Balance at**|
||**1 January 2021**||**resources**|**expended**|**1 January 2022**|**resources**|**expended**|**31 December**|
|||||||||**2022**|
|||**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|IELTS|||||||||
|Training||9,113|-|-|9,113|-|-|9,113|
|Dr Poole|||||||||
|Legacy||-|250,000|(7,750)|242,250|2,583|-|244,833|
|Post Graduate|||||||||
|Training|||||||||
|Programme|306,644||-|(171,322)|135,322|75,000|(98,903)|111,419|
|Accomodation|||||||||
|Programme||2,553|3,250|(5,803)|-|-|-|-|
|Bursaries||-|5,460|(5,460)|-|-|-|-|
|Gaza Transport|||||||||
|Programme||-|10,000|(10,000)|-|5,000|-|5,000|
|Equipment for|||||||||
|IUG||-|-|-|-|1,225|(1,225)|-|
|Sponsored|||||||||
|Students||47,987|64,304|(106,619)|5,672|52,376|(52,575)|5,473|
|Inji||9,500|6,000|-|15,500|-|-|15,500|
|Digital|||||||||
|Anatomy Tools||-|-|-|-|6,000|-|6,000|
|Teaching|||||||||
|Fellowships||19,369|-|(19,369)|-|125|(125)|-|
|Gaza Bursaries||-|10,000|-|10,000|1,625|-|11,625|
||395,166||349,014|(326,323)|417,857|143,934|(152,828)|408,963|
- 14 -