COMPANY REGISTRATION NUMBER: 07030880
CHARITY REGISTRATION NUMBER: 1134734
Arab Scientific Community Organisation Company Limited by Guarantee Unaudited Financial Statements
31 December 2021
R C PATEL FCA, FCCA
Independent Examiner 7 Redbridge Lane East Redbridge, Ilford Essex IG4 5ET
Arab Scientific Community Organisation
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
Arab Scientific Community Organisation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.
Reference and administrative details
Registered charity name Arab Scientific Community Organisation
Charity registration number 1134734 Company registration number 07030880 Principal office and registered 7 Redbridge Lane East office Ilford Essex IG4 5ET
The trustees
Dr M Al-Rabban Al Rabban Foundation for Studies & Research Company secretary Dr M Al-Rabban Independent examiner R C Patel, FCA FCCA 7 Redbridge Lane East Redbridge, Ilford Essex IG4 5ET
Structure, governance and management
Arab Scientific Community Organisation is a company limited by guarantee governed by its Memorandum and Articles of Association dated 20 July 2009 and last amended on 30 October 2017. It is registered as a charity with the Charity Commission.
The charity is structured along the following lines:
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1) A Board of Trustees comprising the Subscribers to the Memorandum of Association and other persons appointed as directors. A person ceasing to be a director shall cease to be a trustee.
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2) Management and administration of the charity is under the control of the Director General and the Chairman of the Board of Trustees.
Trustees
The Trustees are appointed for life. When the need arises, new trustees would be appointed by the current trustees.
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Arab Scientific Community Organisation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
Structure, governance and management (continued)
Trustee induction and training
New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and the decision making processes and recent and projected financial performance of the charity.
Risk Management
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to monitor and control these risks to mitigate any impact they may have on its activities.
Objectives and activities
The objects for which the charity is established are to advance scientific knowledge for the benefit of the public within the Arab scientific community.
Achievements and performance
ARSCO has continued to focus its activities on the advancement of scientific knowledge for the benefit of the Arab scientific community. Some of the more important aspects of our work are as follows:
Events during 2021
Organising a symposium on citizen sciences in cooperation with Arab League Educational, Cultural and Scientific Organisation (ALECSO) on 31/3/2021.
Organising the Scientific Terminology Forum in cooperation with Arab League Educational, Cultural and Scientific Organisation (ALECSO) 26-27/5/2021.
Publication of two issues of ARSCO's scientific journal "Arabian Journal for Scientific Research.
e-Publishing
ARSCO published an e-book entitled "Event Structures - An Introduction to Concurrency Theory"; ISBN 978 - 1 - 9160764 - 4 - 0 in September 2021.
ARSCO published an e-book of the series "Eda'at".
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Arab Scientific Community Organisation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
Achievements and performance (continued)
Projects Development of the "Arabian Journal for Scientific Research" (AJSR)website.
Launch the "AJSR" journal website.
Signing a contract with ISI (https://clarivate.com)
Development of the "ARSCO's AWARD website.
General
Different kinds of newsletters are published, weekly and on special occasions. The website continues to carry information about meetings and gatherings in various scientific fields providing a valuable source of information for the scientific community. Information and scientometrics studies on recent scientific research in the Arab world are presented weekly, highlighting the contributors and their countries
Financial review
The results for the year are indicated on the Statement of Financial Activities on page 5.
Reserves
The charity is dependent upon the support of its well wishers. It is the trustees' intention to build up reserves to a level which will permit continuation of the charity's activities for a period of at least 9 to 12 months without seeking further contributions or donations.
Plans for future periods
ARSCO will continue its main activity of providing a platform for the advancement and exchange of scientific knowledge within the Arab scientific community.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 3 August 2022 and signed on behalf of the board of trustees by:
Dr M Al-Rabban Trustee
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Arab Scientific Community Organisation
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Arab Scientific Community Organisation
Year ended 31 December 2021
I report to the trustees on my examination of the financial statements of Arab Scientific Community Organisation ('the charity') for the year ended 31 December 2021.
Responsibilities and basis of report
As the trustees of the company (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 accounts of the company 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 accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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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
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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 accounts to be reached.
R C Patel, FCA FCCA Independent Examiner
7 Redbridge Lane East Redbridge, Ilford Essex IG4 5ET
3 August 2022
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Arab Scientific Community Organisation
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 December 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | $ | $ | $ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 195,421 | 195,421 | 199,805 |
| ��������� | ��������� | ��������� | ||
| Total income | 195,421 | 195,421 | 199,805 | |
| ��������� | ��������� | ��������� | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 194,054 | 194,054 | 194,741 |
| ��������� | ��������� | ��������� | ||
| Total expenditure | 194,054 | 194,054 | 194,741 | |
| ��������� | ��������� | ��������� | ||
| ��������� | ��������� | ��������� | ||
| Net income and net movement in funds | 1,367 | 1,367 | 5,064 | |
| ��������� | ��������� | ��������� | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 10,644 | 10,644 | 5,580 | |
| ��������� | ��������� | ��������� | ||
| Total funds carried forward | 12,011 | 12,011 | 10,644 | |
| ��������� | ��������� | ��������� |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 11 form part of these financial statements.
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Arab Scientific Community Organisation
Company Limited by Guarantee
Statement of Financial Position
31 December 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | $ | $ | $ | |
| Current assets | ||||
| Debtors | 12 | 15,194 | 12,030 | |
| Creditors: amounts falling due within one year | 13 | 3,183 | 1,386 | |
| �������� | �������� | |||
| Net current assets | 12,011 | 10,644 | ||
| �������� | �������� | |||
| Total assets less current liabilities | 12,011 | 10,644 | ||
| �������� | �������� | |||
| Net assets | 12,011 | 10,644 | ||
| �������� | �������� | |||
| Funds of the charity | ||||
| Unrestricted funds | 12,011 | 10,644 | ||
| �������� | �������� | |||
| Total charity funds | 14 | 12,011 �������� |
10,644 �������� |
For the year ending 31 December 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 3 August 2022, and are signed on behalf of the board by:
Dr M Al-Rabban Trustee
The notes on pages 7 to 11 form part of these financial statements.
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Arab Scientific Community Organisation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 7 Redbridge Lane East, Ilford, Essex IG4 5ET.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Currency designation
These accounts are presented in US dollars.
Exchange rate at 31 December 2021:
US$1 = Qatari Riyal 3.61 (31 December 2020 - QR 3.63)
Basis of preparation
The financial statements are prepared in US dollar, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Arab Scientific Community Organisation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
4. Limited by guarantee
Members' liability is limited to UK £1 per member.
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Arab Scientific Community Organisation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
5. Donations and legacies
| Unrestricted | Total Funds | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |||
| $ | $ | $ | $ | |||
| Donations | ||||||
| Donations and contributions | 195,421 | 195,421 | 199,805 | 199,805 | ||
| ��������� | � | �������� | ��������� | ��������� | ||
| 6. | Expenditure on charitable activities by fund type | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds | 2021 | Funds | 2020 | |||
| $ | $ | $ | $ | |||
| Research | 192,257 | 192,257 | 193,250 | 193,250 | ||
| Support costs | 1,797 | 1,797 | 1,491 | 1,491 | ||
| ��������� | � | �������� | ��������� | ��������� | ||
| 194,054 | 194,054 | 194,741 | 194,741 | |||
| ��������� | � | �������� | ��������� | ��������� | ||
| 7. | Expenditure on charitable activities by activity type | |||||
| Activities | ||||||
| undertaken | Total funds | Total fund | ||||
| directly | Support costs | 2021 | 2020 | |||
| $ | $ | $ | $ | |||
| Research | 192,257 | – | 192,257 | 193,250 | ||
| Governance costs | – | 1,797 | 1,797 | 1,491 | ||
| ��������� | ������� | ��������� | ��������� | |||
| 192,257 | 1,797 | 194,054 | 194,741 | |||
| ��������� | ������� | ��������� | ��������� | |||
| 8. | Analysis of support costs | |||||
| Analysis of | ||||||
| support costs | Total 2021 | Total 2020 | ||||
| $ | $ | $ | ||||
| Governance costs | 1,797 | 1,797 | 1,491 | |||
| ������� | ������� | ������� | ||||
| 9. | Independent examination fees | |||||
| 2021 | 2020 | |||||
| $ | $ | |||||
| Fees payable to the independent examiner for: | ||||||
| Independent examination of the financial statements | 1,067 | 2,598 | ||||
| ������� | ������� |
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Arab Scientific Community Organisation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
10. Staff costs
The average head count of employees during the year was Nil (2020: 3). The average number of full-time equivalent employees during the year is analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| IT staff | 2 | 2 |
| Research assistants | 1 | 1 |
| ���� | ���� | |
| 3 | 3 | |
| ���� | ���� |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
12. Debtors
| 2021 | 2020 | ||
|---|---|---|---|
| $ | $ | ||
| Prepayments and accrued income | 15,194 | 12,030 | |
| �������� | �������� | ||
| 13. | Creditors: amounts falling due within one year | ||
| 2021 | 2020 | ||
| $ | $ | ||
| Accruals and deferred income | 3,183 | 1,386 | |
| ������� | ������� |
14. Analysis of charitable funds
Unrestricted funds
| At | |||||
|---|---|---|---|---|---|
| At | 31 December | ||||
| 1 | January 2021 | Income | Expenditure | 2021 | |
| $ | $ | $ | $ | ||
| General funds | 10,644 | 195,421 | (194,054) | 12,011 | |
| �������� | ��������� | ��������� | �������� | ||
| At | |||||
| At | 31 December | ||||
| 1 | January 2020 | Income | Expenditure | 2020 | |
| $ | $ | $ | $ | ||
| General funds | 5,580 | 199,805 | (194,741) | 10,644 | |
| ������� | ��������� | ��������� | �������� |
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Arab Scientific Community Organisation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
15. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| $ | $ | |
| Current assets | 15,194 | 15,194 |
| Creditors less than 1 year | (3,183) | (3,183) |
| �������� | �������� | |
| Net assets | 12,011 | 12,011 |
| �������� | �������� | |
| Unrestricted | Total Funds | |
| Funds | 2020 | |
| $ | $ | |
| Current assets | 12,030 | 12,030 |
| Creditors less than 1 year | (1,386) | (1,386) |
| �������� | �������� | |
| Net assets | 10,644 | 10,644 |
| �������� | �������� |
16. Related parties
A donation of $195,421 (2020 - $199,805) was received from Dr M Al-Rabban, one of the trustees.
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