COMPANY REGISTRATION NUMBER.. 07030880 CHARITY REGISTRATION NUMBER.. 1134734 Arab Scientific Community Organisation Company Limited by Guarantee Unaudited Financial Statements 31 December 2023 R C PATEL FCA FCCA Independent Examiner 7 Redbridge Lane East Redbridge, Ilford Essex IG4 SET Arab Scientific Community Organisation Company Limited by Guarantee Financial Statements Year ended 31 December 2023 Page Trustees, annual report {incorporating the director's report) Independent examiner's report to the trustees statement of financial activities (including income and expenditure account) statement of financial position Notes to the financial statements Arab Scientific Community Organisation Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 December 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial slalemenls of the ¢harily lor the year ended 31 December 2023. Referencè and admlnistrative dètails Reglstered charity namè Arab Scientific Community Organisalion Charity registration number 1134734 Company registration number 07030880 Principal office and registered 7 Re(Jbridge Lane East office Illord Essex IG4 SET The trustees Dr M Al-Rabban Al Rabban Foundation for SludieslRelired 22 May 20231 & Research Prof R Rashed IAppoinled 22 May 20231 Company secretary Dr M Al-Rsbban Independent examiner R C Patel, FCA FCCA 7 Redbridge Lane East Redbridge, Ilford Essex IG4 SET Structure. governance and management Arab Scientific Community Organisation is a company limited by guarantee governed by ils Memorandum and Articles of Asso¢ialion dated 20 July 2009 and last amended on 30 October 2Q17. 11 is registered as a charily with the Charity Commission. The chaTlty is slructur$d along the following lines.. 11 A Board of Trustees comprising the SubscNbers lo the Memorandum of Association and other persons appointed as directors. A person ceasing lo be a director shall cease lo be a ITuslee. 21 Management and administrat￿n of the charity is under the control of the Director General and the Chairman of the Board of Trustees. Truste&s The Trustees are appointed for life. When Ihe need srises, new Iruslees would be appointed by the current trustees. Arab Scientific Community Organisation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) f¢ontlnuedJ Year ended 31 December 2023 Stwclure* govgrnanoe and managgment (¢ontlnuedJ Trustee Inductloh and tralnlng New Iruslees are briefed on their legal obligations under charity and company law, the conlenl of the Memorandum and Articles of Association, the commillee and the decision making processes and recent and projected financial performance ol the charity. Rlsk Managem&nt The trustees have assessed the major nsks lo wh￿h the charity is exposed, and are satisfied that systems are in place lo monitor and control these risks lo miligale any impact they may have on its aclivilies. Objectlves and activities The objects for which the charity is established are 10 8dvance s¢ienlifi¢ knowledge for the benefit of the public within the Arab scientific community. Achievements and performance In 2023, ARSCO, in ¢ollaboralion with the Arab scientific community, has not only made significant achievements and advancements in the field of scientific research bul also directly impacted the community we are all a part of. Here are some key highlights of our collective work.. Evants in 2023: On January 30-31, 2023, ARSCO participated in the "Arab Forum for S¢ienlffi¢ Research and Sustainable Development" in the Sullan8le of Oman. On February 26, 2023, ARSCO announced the ARSCO Prize for smart cities. On March 20, 2023, ARSCO or9anized a workshop on Innovation in water trealmenl.. Thirte8n online scienlili¢ webinars were conducted Ihioughoul the year. On April 10, 2023, ARSCO started an online program called "Imndow on Science" On April 26, 2023, ARSCO launched the Nebras" website. E-Publishing'. We have published two issues in ARSCO'S scientifi journal, "Arabian Journal lor Scientific Research (AJSRI." We have published a digital book tilled, °Scientilic Communication Skills" We have prepared and published numerous studies, researd) papÈrs, artides. stalisli¢81 studies. and videos for both scientifi and general audiences. General- We regularly publish multiple newslellers each week. as well as for special occasions. The ARSCO website continues to be a vital source of information for the scientific communily. 11 features information and s¢ienlometri¢ studies on recent scientific research in the Arab world every week, focusing on highlighting the conlribulors. Arab Scientific Communlty Organlsation Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report} (Collllnu￿J Year ended 31 December 2023 Financlal r&vl8W The results for the year ar6 indic8¢ed on thg Stal8rnent of Finan￿1 Act(￿tI88 on page 5. Reselves The charity is dependent upon Ihe sUpp￿t of ils well ￿$her$. It is the trustees, intention to build up rè58rves lo a level which permit continuation of the charity's acti￿ltieS lor a period ol at least 9 10 12 months wlhjut seeking furth8f wnlributions or donations. Plan8 forfuturn periods ARSCO will continue its main activity of providing a platform for the advanc8menl and axeharye of scientific kn￿edge within the Arab sci8nlific community. Small company provl¥lon8 Thls r8POrt has been prepared In acwrdance wllh Ihe provislons aptAicable to Ard of trusl8e8 8nd authorised for issue on and are signed on b8hall of th8 board by.. Dr M AkRabban Tru8t88 Thg noto5 on pag08 7t0 11 form part of thesèflnartclal 5tatoment8. Arab Scientific Community Organisation Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2023 General informatlon The charity is a public benefit entity and a privsle company limited by guarantee, registered in England 2nd Wales and a registered chaiily in England and Wales. The address of the registered Offi￿ is 7 Redbridge Lane East, I￿Ord, Essex IG4 SET. statement of compliance These financial slalernenls have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Slalemenl of Recommended Practice applicable lo charities preparing their a¢¢ounls in accordance with the Financial Reporting Standard applicable in the UK and Reputsl￿ ol Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Companies Act 2006. Accounting pollcles Curréncy designation These accounts are presented in US dollars. Exchange rale al 31 D8￿mber 2023.. US$1 Qatari Ryal 3.62131 Decernber 2022 - QR 3.621 Basis of preparation Tho financial statements are prepared in US dollar, which is the functional currency of the entity. Going concern There are no material uncertainties about the charily s ability lo conlinue. Judgemènts and key sour¢•s of estimation uncertalnty The preparation of the financial statements requires management to make judgements, eslirnales and assumptions that affect the 8mounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed lo be reasonable under the ¢iroumslances. Fund accounting Unrestrict￿ funds are available for use al the dis¢relion of the Iruslees to further any of the charity's purposes. Designated funds are unreslricled funds earmarked by the Iruslees for particular future project or commitment. Restricted funds are sut¥e¢ted to restrictions on their expenditure dedarecl by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or gndowmenl funds. Arab Scientific Community Organisation Company Limited by Guarantee Notes to the Financial Statements Iconiinued) Year ended 31 December 2023 Accounting policlos l¢onlinuéd) Incoming resources All incoming resources are included in the statement of financial activities when enlillemenl has passed lo the charity., Il is probable that the economic benefils associated with the transaction will flow lo the charity and the amount can be reliably measured. The followng spe¢ific policies are applied lo particular categories ol income". incoine from donations or grants is recognised when there is evidence of enlillemenl lo the gift, receipt is probable and its amount can be measuTed reliably. legacy income is recognised when receipt is probable and enlillement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from ltrie cost lo the donor or the eslimaled 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. income from contracts for the supp5y of servi￿$ is re¢ognised with the delivery of the contracted service. This is classified as unreslricled funds unless there is a contractual requirement for il lo be spent on a particular purpose and returned il unspent, in which case il may be regarded as restricted. Resource8 expgnded Expenditure 18 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 lo which il r8lales.' expenditure on raising funds includes the costs of all fundraising aclivilies, events, non-charilable trading activities, and the $85e of donaled goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned lo charitable aclivilies. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of its expenditure on charitable aclivilies. All costs are allo¢aled lo expenditure categories relleclillg the use of the resource. Direct costs allribulable lo a single aclivily are allocated directly lo that aclivily. Shared costs are apportioned between the aclwilies they contribute lo on a reasonable, justifiable and consislenl basis. Limited by guarantee Members, liability is limited lo UK £1 per member. Arab Scientific Community Organisation Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 DeGember 2023 Donations and legacles Unreslricled Total Funds Unreslricled Total Funds Funds 2023 Funds 2022 Donations Donations and ¢ontribulions 232,669 232,669 222,270 222,270 Expendlture on charFtable actlvlties by fund type Unreslri¢led Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Research activity Support costs 230,226 1,937 230,226 1,937 225,480 1,129 226,609 225,480 1,129 232,163 232,163 226,609 Expenditure on charitable activities by a¢tlvity type Activities undertaken directly Support costs Total funds 2023 Total fund 2022 Research activity G0Veman￿ costs 230,226 230,226 1,937 232,163 225,480 1,129 1.937 230,226 1,937 226.609 Analysis of8UPPOrt costs Analysis of support activity Total 2023 Total 2022 Governance costs 1.937 q,937 1,129 Indépèndent examinatlon fees 2023 2022 Fees payable lo the independent examiner for. Independent examination of the financial slalements ,937 1,129 Arab Scientific Community Organisation Company Limited by Guarantee Notes to the Financlal Statements Iconiinued) Year ended 31 December 2023 10. Stsff costs The total staff costs and employee benefits for the reporting per￿d are analysed as follows.. 2023 2022 Wages and salaries 136,077 119,401 The average head count of employees during the year was Nil {2022.. 51. The average number of full-lime equivalent employees during the year is analysed as follows.. 2023 No. 2022 No. IT staff Research assistants No employee received employee benefits of more than £60.000 during the year (2022.. Nill. 11. Trustèè remuneration and expen868 No remuneration or other benefits from employment with the charity or a related entity were re￿iVed by the trustees. 12. Debtors 2023 2022 Prepayments and aurued income 11,061 11.254 13. Cr6ditoYs: amounts falling du8 wlthln one year 2023 2022 Accruals and deferred income 2,883 3,582 io- Arab Scientific Community Organisation Company Limited by Guarantee Notes to the Financial Statements iconfinuedj Year ended 31 December 2023 14. Analysis of charitable funds Unrestricted funds At 31 December 2023 At l January 2023 Income Expenditure General funds 7,672 232.669 1232,1631 8,178 At 31 December 2022 At 1 January 2022 Income Expenditure General funds 12,011 222,270 1226,6091 7,672 15. Analysis of net assets betwgen funds Uniesliicled Total Funds Funds 2023 Current assets Creditors less than l year Net asset8 11,061 12,8831 8,178 11.061 12,683 8,178 Unreslricled Total Funds Funds 2022 Current assets Creditors less than 1 year Net assets 11,254 13,5821 7,672 11.254 13,5821 7.672 16. Related parties A donation of $232,669 12022 $222,270) was received from Dr M A-Rabban, one of the Iruslees.