Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 Charlty number: 1136815 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST CONTENTS Page Referenc• and Admlnlgtratlve Detalls of the Charlty, Its Trustges and Advisèrs Trustoos, Report Trustees. Responslbllltles Statgmgnt Indepondent ExamIn9S Report statement of Flnanclal ActlvStles 10 Balance Shaot 11 Notes to thè Flnanclal Ststsments 12-20
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2025 Trustees Professor John Lonsdale Iresigned 21 September 2024) Professor Dr Joy PeTeira Dr Gordon Johnson (appointed 1 October 20241 Doto. Henry Barlow Mr Jeremy Carwer Professor Lord Hunt of Chesterton Dato, Thomas M L Lee Charlty reglstered number 1136815 Prlnclpal offlce Trinily College Cambridge CB2 1TQ Dlrector Dr Anil Seal Treasurer Mr Daffen Purcell A Indopondent èxamlner Poters Elworthy & Moore Ch8rter8d Accountants Salisbury House Station Road Cambridge C812LA Bankers National Westmlnster Bank PIC 21 Petty Cury Cambrldge CB2 3NE Page 1
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 JULY 2025 OBJECTS AND PURPOSES OF THE TRUST The Cambridge Malaysian Education and Development Trust ICMEDTI was established by Trust Deed, dated 23 Fobruary 2010. with the following Objects.. 1.1 ID advance education for the benefit of the cltlzens of Malaysia. other countiies of the Commonwealth and such other ¢ounlrles having Ilnks with Malaysia as the Trustees see fil {Ihe 'Counlries'l by.. (al educating on the irnprovemenl of standards in educational institutions., (bl developing and helping lo deploy programmes of 'dislance learning, in all subjects {including programrnes related to the teaching of English as a foreign language and the development of vocational and professional Ic) puttlng on courses, seminars. Ir8lnlng programm8s, lectures and other educational events- (dl providing visiting fellowships, scholarships, bursaries and secondm8nls for study worfdwide, wilh particular emphasis on Malaysia,, (el educating in subjgcts relating lo sustainable dovelopmenl and the protection, enhancement and rehabilitation of the environment and promoting study and research in such subjects provlded that the useful results of such study are disseminated lo the public at large; (Q such other means as the Trustees in their absolute discrellon See fil. 1.2 to promote sustainable development for the benefit of the citizens of the Countries by.. lal the preservation, conservation and protection of the environment and the prudent use of resour$.. (bl the promotion of sustainable means of achieving economic growth and regeneration. 1.3 to further for the benefit of the citizens of the Countries such other purposes as are charitable under the laws of England and Wales as the Trustees In their absolute dlscr8llon see fit. In accordance wlth the Trust Deed. the Trustees mLt81 use the income and may use the capital of the Charity in promoting the Objects of the Charity. ORGANISATION AND MANAGEPIIENT OF THE TRUST The Trust is a charity registered with the Charity Commission (Charity Reference Number 11368151. The Trust is governed by Its Trustees. There Is an Executive Committee. The followlng seNed during 202425 and to dale: D810, Henry Bailow ITruslee and Executive Chairman) Professor John Lonsdale (Trustee and Depuly Executive Chgirm8n from 22 September 2021 resigned 21 September 2024) Dr Anil Seal (Director) Mr Jeremy Carver (Trusleel Dr Nicholas Branson (Treasurer until June 2025 Mr Darren Purcell (Treasurer from June 20251 Dr Gordon Johnson (Trustee- appointed 22 September 20241 The Trustees have established a Remunerallon Commitleo lo sgtlle the remuneration of offic&rs {i.e. the Director and Treasurer). with the proviso that any officer whose remuneration is being discussed will not be present for dSscussion of that item of business. The Remuneration Committee has the following membership.. The Execullve Chairman The Deputy Executive Chairman The Director The Treasurer Mr Jef&my Carver The administration of the Tru8t18 conducted from the headquarter8 of the Malaysian Commonwealth Studies Page 2
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST TRUSTEES. REPORT (CONTINUED> FOR THE YEAR ENDED 31 JULY 2025 Centre IMCSC), 11 Madingley Road. Cambridge CB3 OEG. The administrative structure of the Trust is shared with the MCSC. The Trustees express their gratitude ID the Trustees of the MCSC for their willing co-opeTatlon. The Trust meets its share of the running costs of this joint administration. Foldin -In ofMCSC wi n and Develo ment Trust In view of the increasingly close relationship beeen the activities of the MCSC and the CMEDT, in 2017 the University of Cambridge Finance Comrnillee, as d8 facto regulator of Ihg MCSC as an exempl charity, recommended that a folding-in of the trusts should lake place. This recommendation was unanlmously approved by the Trustees of both Irusls. On 1 August 2018, the MCSC Trustees. together with the University, executed a Deed of Amendment of the MCSC Trust Deed to enable the assets, liabllilies, functlons and activities of MCSC lo be transferred lo the CMEDT. Some minor consequential amendments of the CMEDT Trust Deed were executed by the CMEDT Trustees on the same date. As at 3fj July 2025 the folding-in has not been executed and the two trusts conllnue to report their financial results separately. To dale, no transfer of assets has lakgn pla, and no decision has been taken regarding when such a transfer might occur. The management of the Trusts is undertaken on a unified basis with costs shared as appropriate. CMEDT makes a grant to MCSC. The Accounts of both trusts for 202¥25 have been prepared on the basis Ihal, apart from thè normal Inter-trust transfers relating lo the agreed respective responsibilities of the two trusts for shared programme8, any investments of MCSC are shown as MCSC assets at 31 July 2025. Recruitment induction and Irainin of Trustees All Trustees have considerable administrative experien and knowledge of related govemance procedures. In most cases having run or held senlor positions in national, educalional, or business Instilulions. Some Trustees are major flgures in international affairs. and others are leadlng figures from within the University of Cambridgg and ils Colleges, 11 is the policy of the Trust that all new Trustees should receive full minutes of previous meetings of Trustees and their Executive Comtnitlee as well as details of accounts and budgets for al least three years prior lo appointment.. that they should receive a copy of the Trust Deed and any rules and regulations made under it,. and that they should be given an Informal briefing by the officers and invited to contact the Chairman of the Executive Committee for further and better particulars or for any mallers arlsing after pèruslng background papers. Further identlfied Iralning requirements are mel on an ad hoc basis. Ke M8na emenl Person The key management personnel a the members of the Executive Committee. Investment Polic The Trust doe8 not h8ve as88ls held on a long-lerm ba818. The Investment of ils funds is through short-lerm bank and simllar deposits. Ethical Investment Pollc The Trustees do not have an elhical investment Policy as such. If they reach the point of being able lo invest their funds, they will iety on the ethical investment policies of the managers of the indivklual funds COnrned. ACTIVITIES AND DEVELOPMENTS OF THE TRUST DURING THE YEAR TO 31 JULY 2025 Incomg of the Trust The principal income for the yeaT-end 2025 was a contribution of £100,000 receDred from the Cambridge Educational and Development Trust {CEDTI on 8 Aprll 2025. This contribution was a result of the successful sale by CEDfs wholly owned company CATS Step Llmiled of the product CATS who88 development the Trust, together with MCSC. has supported for many years. Actlvltles of the Trust Isignificanlly diminished 24-251 The core remit is lo advance education and sustainable development for the benefit of Citizens of Ma18y818 and, more broadly, of the developing countrie8 of the Commonwealth and beyond. Page 3
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 The Trust's current programmes are.. Affordable Education, principally English language teaching and assessment The Miligalion of Climate Change and Natural Disasters Sustainable Development and Smart Villages Good Governance and Electoral Democracy In the Commonwealth land beyond) 3.1 AFFORDABLE EDUCATION Engllsh Language Learnlng. Toaching and Asgessment Background A key remit addres8ed by CMEDT18nd MCSC} slnce 2010 was lo help Malaysia improve the proficiency of Ils peoples in tho English language. Ac¢gsslblo Tosting Systsm (cats stsp) The Accessible Testing System cats step. created by the trusts, represents an innovative and unlque system of leamlng and assessing fijnclional English. Among its core purpDses, the system has been designed to enable pupils of varying abilities and from different backgrounds to improve their proficiency in English through a 8tep- by-slep proces8, wllh the learning material being an integral part of the system along with the assessments. The system is calibrated against CEFR standards. After many years of Investment in cats step, the s0fhafe was Iln811y sold by CATS Step Llmlled Ilhe company tasked with ils development) to Peoplecert. a global leader in Ihe assessment and certification of professional ski118. The right lo deploy the Intellectual property in Malaysia has been retained by CATS Slep Limited. The proceeds Irom the sale to Peoplecert amounted lo £700,000. AS noted earli8r, during 2024-25 CMEDT received £100,000 from CEDT Ilhe paronl charity of CATS Slep Limiledl. This donation was made possible by the $81e of cats stop. The Trustees expect further donations to be received in the coming years. 3.2 THE MITIGATION OF CLIMATE CHANGE AND NATURAL DISASTERS Danum Valley and the South East Asla Ralnlorèst Research Partnorship {SEARRP) The continuing support by MCSC and CMEDT for Danum Valley, via SEARRP, has been vit81 In underpinnlng the long-term monitoring and data collection programmes essential in an era of global environmental change. in particular the seminal contributions that SEARRP and Danum Valley make lo tha development of conservation and sustainabllity pol¢cy and best-practtce In Malaysia and. Ihmugh Malaysla, for the world. Llnks with Cambridge remaln Integral to future plans, particularly Ihrough the work of many Cambridge-based academics who collaborate with SEARRP, notably the Centre for Atmospheric Science al Cambridge. chalred by Professor John Pyle. who is also chair of the SEARRP Board of Trustees on which Dalo, Henry Barlow. Trustee of CMEDT, also serves. Asian Network of Cllmatg Science and Tochnology IANCST) and thg Wlndowwto-cambrldge at UKM The eslablishment of th8 Askgn NeOrk on Climate Sci8nc& and Technology, which, since Its launch Sn 2013 under the leadership of Professor Lord (Julian) Hunt of Chesterton la Trustee of CMEDT). together with Professor Joy Pereira (now also a Trustee of CMEDT). who leads UKM'S Soulh-Easl Asia Disaster Pfevenlion Iniliatwe ISEADPRII, has created a flouri8hlng inlernaliDnal network which has facilitated collaboration and Ihe exchange of information between world-dass researchers on the sclenllflc and technological aspeels of climate change and climate drlven disasters Specific to Asian condillons. From ils base al SEADPRI-UKM. with support from worldclass institutions in the Commonwealth and beyond, ANCST coordinales special topic groups on key climate Scien and technology topics, engaglng and mobilising more than 2,500 scientists. policy-makers and prlvate-seclor praclilioner8 through over 50 workshops and assoclaled events. Page 4
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 3.3 SUSTAINABLE DEVELOPMENT AND SMART VILLAGES Among projects supported by CMEDT and MCSC in recent years are a community energy project in Tanzani8. mSnigrid project in Uganda, a project lo ctean plastic waste from river systems in and around Nalrobi, Kenya, a mobile minigrid projèct in Kenya, a faTm irrigation system for rural off%rid farmers in Ugand8, and a minigrld project in Lesotho. Recently completed projects include a low-cosl cold-store project in Uganda. a remote 8ccess-lo-heallhc8re projeGI, arb off-grid technok)gy project in Tanzania, arsd a minigrid modelling tool for Malaysia and Somallland. 3.4 GOOD GOVERNANCE AND ELECTORAL DEMOCRACY IN THE COMMONWEALTH (AND BEYONDI For the past 20 years MCSC, together with CMEDT Sin ils establishment, hav8 played the key role In establishing and leading an annual Cambridge Conferenco providing a forum in which Chiof Election Commissloners and those who lead Election Management Bodies in the Commonwealth land beyond) can meet together to exchange information and ideas about policy and plac11 in superintending elections whlch are as free and as fair as circumstance8 permS1. PUBLIC BENEFIT The above accounts of the Trust's advllie8 amply demonstrate the publi¢ benefll arlsing from each programme. Affordable education, sustainable development. food se¢urlly, th& miligalion of climate change and natural disasters. and the promotion of electoral democracy in the Comrnonweallh and beyond, are self-evidenlly programmes of great aclu81 and potential benefit lo the public. The Trustees are satisfied that the activllies of the Trust, as described in this report and In the accompanying accounts, are enllrely for charitable purposes and fully meet the 'publlc beneflt, requirement of the Charities Act 2011. The Trustees confirm that they have referred lo the guidance contained in th8 Charity Commission's general guKlance on public bgnefil. FUTURE OUTLOOK The Trust continues to be viable, and will continue to work dosely with MCSC. The posslbllty of some form of merger with MCSC remalns for future nsIderation by the Trustees of the two trusts. FINANCIAL REVIEW The total income for the year ended 31 July 2025 was £101.532 (2023-24.. £1,007,912). Ttte lo181 expenditure for the year ended 31 July 2025 was £286,77812023-24.' £834.8421. The net deficll for the year ended 31 July 2025 was £185.246 {2023-24.' £173,070 nel surplus). The total assets less liabilities as al 31 Juty 2025 were £68,51912023-24.. £253.7651. GOING CONCERN The Trust's charitable activities were reduced dufing 2024-25 to maintain reserves. The Director, Dr Anil Seal. is (xinllnulng lo liaise w51h the Malaysian Government lo secure a renewed funding commitment Ilhe previous funding commitment having concluded in 2023-2024 with the receipt of £1 mnl. As noted earfier in this report, a grant of £100,000 was recelved from the Cambrldge Education and Development Trust, funded by the sale of cats step, an English language programme that CMEOT, togethef with MCSC. had funded for many years. The Trustees expèct further grants in the coming years. Thereafter, the Trust's conlinualion, and also the conlinualion of MCSC. remalns an open question under constant review by ils Execubve Committee and officers. Page 5
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 For the present. the Trust has total assets less liabilities of £68.519 as al 31 July 2025 (2023-24.. £253,765). The Trustees monitor the available resources closely and consider which programmes may best benefit from current funds. Trustees do not commit beyond their available reSoUrS and curtail activities lo suit the avallable funds. In th8 absence of further funding from the M81aysian Government, the Trustees cannot at present guarantee the conlinualion of CMEDT al levels similar to prevtous years. The Trustees wlll confjnue to give grants within the available funds and look for further opportunities. RESERVES POLICY All the funds of the Trust are inv951ed, and the income is fully deployed for the purposes of the Trust. Any unspent incom8 in any year would be held against expenditure In future years in the hope of avoiding major swings in the level of activities of the Trust from year lo year. The Trust doe8 not have a specific policy for what level of reserves il should hord. It is the current pollcy of the Trustees that the Trust should spend more than its income, thereby reducing the level of ils reserves. The unrestrfcled funds al 31 July 2025 were £68,51912023-24: £253,7651- RISK MANAGEMENT The Trustees have examined the major slr8tegic. business and operational risks which the Trust fas, and are satisffed that, with the regular reports they receive al meetings, they are able lo assess these risks and lo put in hand on a timely basis ar)y necessary actions {mainly in relation to the scale of the collaborative activities of the Trust) lo lessen or avoid Ihom. The principal risk is that Income from donors, in particular the Malaysian Government, mlghl turn out lo be less than currently anticipated. This risk is mlligated by retsinlng sufficient reserves lo meet Guirenl commitmenls. A risk regisl8r has been prepared, and will be kept under regular review. Approved by order of the members of the board of Trustees 8nd 8lgned on their behalf by.. Dr ordon Joh Trustee Date.. Lold Page 6
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY 2025 The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi1. The law applicable to charities in England & Wales requires the Trustees to prepare financlal 8lalemenls for each financial which give a INe and fair view of the stale of affalrs of the Charity and of its incoming resources and application of r8sources, Including Its income and expénditure. for that period. In preparing these financial slalemenls, the Trusteey are required lo= Sglgd 5uilable accounting policies and then apply them consistently.. observe the methods and principles of the Chari11es SORP IFRS 1021.. m8ke judgements and accounting estimates Ihal are reasonable and prudent.. stsle whether applicable UK Accounting St8ndard8 IFRS 102) have been followed, subject lo any material departures disclosed and explained in the financlal statements., prepare Ihg financial statements on the going concem basis unless it 15 inapproprfate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charills transactions and disclose with reasonable accuracy at any lime the financlal position of the Charity and enable them lo ensure that the financial statements comply wlh the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provislons of the Trust deed. They are also responsible for safeguarding the assets of the CharSly and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities. Approved by order of the members of the b08rd of Trustees and signed on ils b8half by.. Dr Gordon Johnson Trustoa D8te'. Page 7
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST {Yho Charlty'l I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 July 2025. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the Charbty you are responsible for the preparatlon of the accounts in accordance wilh the requirements of the Charities Act 20111'the 2011 Act'l. I report In respect of My examination of the Charills accounts carried out under section 145 of the 2011 Act and in carryng out my eXaMnation I have followed the applicable Direction8 given by the Charity Commission under section 145151{bl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Your allenlion is drawn lo the fact that the Charity has prepared the account8 in accoTdance wllh Accounting and Reporting by Charities.. Statement of Recommended Pracli¢e applicable lo charllies Preparing their accounis in accordance with the Financlal Reporting Standard applicable In the UK and Republic of Ireland IFRS 102} in preferen lo the Accounting and Reportlng by Charities.. Slalemenl of Recommended Practice issued on 1 Aprll 2005 which Is referred lo in the exlanl regulatlons bul has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reportlng periods beginning on or after 1 January 2019. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to beli8ve thot ir¢ any materfal respect.. accountlng records were not kept in respect of the Charity as required by sectÉon 130 of the 2011 Act.. or the accounts do not accord with those records., or Ihg accounts do not comply with the applicable requirements concernlng the form and content of accounts sel out in the Ch8rilles (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view whlch is not a maller considered as part of an Independent examination. I have no concerns and have come across no other mallers in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Page 8
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 This report is made solely lo the Charitrfs Trustees, as a body, in accordance with Part 4 of the Charilles (Accounts and Reports) Regulations 2008. My work has been undertaken so that I mlghl slate lo the Charil¥s Trustees those matters l am requlred lo slate lo them in an Independent Examinerfs Report and for no other purpose. To the fuSlest extent permiÉied by law, I do not accept or assume responsibilily lo anyone other than the Charity and the Charity's Trustees as a body, for my WOTk or for this report. Slgned.. Nikki Loan Datsd.. 06 May 2026 FCA PETERS ELWORTHY & MOORE Chartered Accountants Salisbury House Station Road Cambridg8 CB12LA Page 9
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY2025 Unre6tr1cted funds 2025 Total funds 2025 Total funds 2024 INCOME FROM: Donations Intere81 receivable 100,000 1,532 100,000 1.532 1.000,000 7.912 TOTAL INCOME 101,532 101,532 1,007,912 EXPENDITURE ON: Charitable aclivitte5 286,778 286,778 834,842 TOTAL EXPENDITURE 286.778 286,778 834.842 NET MOVEMENT IN FUNDS {185,246) 1185,2461 173,070 RECONCILIATION OF FUNDS". Total funds brought forward Net movement in funds 253,765 {185.246) 253,765 1185,246} 80,695 173,070 TOTAL FUNDS CARRIED FORWARD 68,519 68,519 253,765 The Ststem8nl of Financial ActivS1Ses includes all gains and losses rognISed in the year. The notes on pages 12 to 20 form part of these financial stalemenls. Page 10
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST BALANCE SHEET AS AT 31 JULY 2025 2025 2024 Note CURRENT ASSETS Debtors Cash at bank and in hand 10 7,591 08,116 14,302 263.863 75.707 278,165 CURRENT LIABILITIES Credltors: arnounts falling due within one year 17.188) {24,400) NET CURRENT ASSETS 68.519 253.765 TOTAL NET ASSETS 88,519 253,765 CHARITY FUNDS Unre8lTicted funds 68.519 253.765 TOTAL FUNDS 68,519 253.765 The financial slalements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. Dr Gordon Johnson Trusteo Dale= 2pldz(o The notes on pages 12 10 20 form part of these financial slatemenls. Page11
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 GENERAL INFORMATION The Cambridge Malaysian Education and Development Tru81 is a charitable trust registered with the Charity Commission In England and Wales. Its registered office address and other administrative details are included on page 1. The financial statement8 have been prepared under the historical cost convention. The functional and presentational currency of the Trust is GBP. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCEAL STATEMENTS The financial 8talemenls have been prepared In accordance with the Charitles SORP IFRS 102) Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charitles pieparing their acGounls in aceordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffeclive 1 January 20191, the Flnancial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102} and the Charities Act 2011. The financlal slalernenls have been prepared lo give a 'lrue and fail vlew and have departed from the Charitiès IAccounls and Reports) RegulalSons 2008 only lo the exlenl required lo provide a 'lrue and fairf view. This dep8rture has involved followlng the Charities SORP IFRS 102} published In October 2019 ralher than the Accounting and Reporting by Charities.. Slalemenl of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Cambridge Malaysian Education and Development Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at hlslorical cost or transaction value unless olherwl8e stated in the relevant accounting policy. No material accounting estlmales or judgements are used In the preparallon of the accounts. Pag8 12
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 ACCOUNTING POLICIES ICONTINUEDI 2.2 GOING CONCERN The Trust's charitable aclivilies were reduced during 2024-25 to maintain reserves. The Director. Dr Anil Seal, is continuing to liaise with the Malaysian Government lo secure a renewed fundlng commitment Ith8 previous fundlng commitment having concluded In 2023-2024 with the receipt of £1mnl. A grant of £100.000 wa8 recelved from the Cambridge Education antj Development Trust, funded by the Sale of cats slep, an English language programme that CMEDT. together with MCSC, had funded for many years. Th8 Trustees expect further grants Sn the coming years. Thereafter, the Trust's conlinuatlon, and also the continustlon of MCSC, remains an open question under constsnt reviow by its Execut Commltte8 and offIr$. For the present, the Tru8t ha8 total 88sols less liabilities of £68,519 as al 31 July 2025 12023-24.. £253.765). The Trustees monitor the available resources closely and consider which programmes may be91 benefit from Current funds. Trustees do not commit beyond thelr available resources and curtail actlvilies to suit the avallable funds. In the absence of further funding from Ihe Malaysian Government. thè Trustees cannot al present guarantee the continuation of CMEDT al Eevels similar lo previDUS years. The Trustees wlll continue lo give grants within Ihg available funds and look for further opportunities. 2.3 INCOME All Income is recognised once the Trust has enlillement lo the Income, il is probablg that the income 11 be re(*ived and th8 amount of income receable can be measured reliably. Donallons and all other receipts are pOrted gross and the related fundraising costs are reporting In other expenditure. Investment income Os accounted for when Teceivable. 2A EXPENDITURE Expenditure is recognised On there is a legal or conslructlve obligation lo transfer economic benefit lo a Ihlrd party, il is probable that a transfer of ewnomic benefits will b& required in settlement and the amount of the obligation can be measured reliably. Expenditure is dassified by activity. The costs of each activity are made up of the lolal of direct costs and shared CDsls, including support costs involved in undertaking each activity. Direcl cosls atlribulable to a single activity are allocated directly to that acllvlly. Shared costs which contribute lo more than one activity and support costs which are not attributable lo a single activity are apportioned beeen those activities on a basis consl8tenl wllh the use of resouices. P8ge13
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 ACCOUNTING POLICIES ICONTINUEDI 2.4 EXPENDrfuRE (CONTINUED} Expenditure on charitsble activities is Incurred on directly undertaking the activities which futher the Trusvs objectives. as well as any associated support costs. Governance costs comprise all costs involving the public accounlabilily ol the Trust and ompliance with regulation and good practice. These costs include c081s related lo the independent examination and legal fees. Support costs are costs for the admlnlslrallon of charilable aclivilies. Staff costs are allocated beeen support and g0Veman costs. Support costs are allocated lo charitable actlvilles in proportion lo the direct costs of those activities as this basls is deemed lo be eon8lslent with resource Grants payable are payments made lo third parties in furtherance of the charitable activities of the Trust. Single or mulll-year gran18 are accounted for when esther the receipienl has a reasonabte expectation that Ihey will receive a grant and the tiuslees have agreed lo pay the grant wilhoul condition. or when the recipient has a reasonable expectation that they will recgiV8 a grant and any condition allaching lo the grant is outside the control of the Trust. Gran15 payable are charged in the year when the offer is made except In those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Giants offered subject lo conditions which have not been mel al the year end are noted as a 1MMItMent. but not accrued as expendilure. Wh8r$ grants have been awarded by MCSC the rfjlevanl share of the award is recognised by CMEDT as a grant to MCSC as pari of Ils commillment to joinlly fund activities with MCSC. 2.5 DEBTORS Trade and other debtors afe recognlsed al the setttemenl amount after any trade discount offered. Prepaymen18 are valued at the amount prepaid n6t of any trade discounts due. 2.6 CASH AT BANK AND IN HAND Cash al bank and In hand includes cash and short-lerm highly liquld investments with a short maturily of three months or188s from the dale of acqulsilion or opening of the deposll or similar account. 2.7 LIABILITIES AND PROVISIONS Liabilities are recognised when there is an ObligaOn at the Balance Sheet date as a result of a past event. 1118 probable that a transfer of economtc benefit w411 be required in selllewnent, and the amount of Ihe 8ettlement can be eslimaled reliably. Liabilities are recognised at the amount that the Charity anlicipales it wlll p8y lo setlk the debt or the amount il has received as advanced payments for the goods or services it musl provide. 2.8 PENSIONS All eligible sl8ff are membèrs of th8 University of Cambridge's Conlribulory Pension Scheme (CPSI lo which the Trust conlribules. As th8 Trust is unable to identify its Share of the undedylng assets and liabilities of the CPS on a reasonable and consislenl basis, it accounts as if the CPS were a defined contribution scheme. so that the cost is equal to the lolal of contributions payable In the year. Pag8 14
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 202S AccouKfiNG POLICIES (CONTINUED) 2.9 FUNDACCOUNTING General funds are unrestr¢¢led funds which are available for use al the discretion of the Trustees in furtherance of the general oblectives of the ChaTily and which have not been designated for other purposes. INCOME FROM DONATIONS Unrestrlcted funds 2025 Totsl funds 2025 To181 funds 2024 Cambrhdge Educatlon and Development Tru81 100,000 100,000 1,0110,(K)O ANALYSIS OF EXPENDITURE BY ACTIVITIES Actlvltles undortakan directly 2025 Grant funding of activities 2025 Support costs 2025 Total funds 2025 Total funds 2024 English Language Climat6 Change Electoral Democracy Promotlon & Education 27.000 85,821 24,942 14.000 38.228 8.451 14,435 11,465 151,049 33,393 57.037 45,299 646,746 65,734 65,421 56.941 28,602 33,834 TOTAL 2025 89,436 124,763 72,579 286.778 834,842 TOTAL 2024 107,255 556,678 170,909 834,842 Page15
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF SUPPORT COSTS Total funds 2025 Total funds 2024 Staff costs Telephone, postage and couriers Rent and rates Adminislralive support Office expenses Property costs Travel Bank charges Governan¢9 costs 26,498 990 7.989 8,396 6.297 13.520 96,959 2.340 8,072 19,842 9,437 10,669 9,018 172 14.400 209 8.680 72.579 170,909 ANALYSIS OF GRANTS Grants to Grants to Institutlons Indlvlduals 2025 2025 Total funds 2025 Tolal funds 2024 English language Climate change Promollon and Education 85,821 24.942 4.000 85,821 24,942 14,000 504,396 52,282 10,000 114,763 10,000 124,763 556,678 TOTAL 2024 546,678 10,000 556,678 The Charity has made the following malerlal grants to Inslilulions durlng the year.. Page 16
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 ANALYSIS OF GRANTS ICONTINUEDI 2025 2024 NAME OF INSTITUTION The Malaysian Commonwealth Studies Centre In Cambridge CATS Step Limited South East Asia Rainforest Research Partnership Swansea University (support for Danum Valleyl Gonville & Caius College 85,821 300,000 194,396 20,000 32,282 24.942 4,000 114.763 546,678 INDEPENDEMT EXAMINER'SIAUDITOR'S REMUNERATION 2025 2024 Fees payable to the Chariws indep8ndenl examiner12024'. Independent audilorl in respeGI of.. Audit of financial slalemenls Independent examination of financial statements 14,400 5,990 STAFF COSTS 2025 2024 Wages and salaTles Social security costs Pension costs 23,999 2.499 85.186 7.570 4,116 87 Apprenticeship levy 26.498 96.959 The average number of persons employed by the Charity durlng the year was as follows.. 2025 No. 2024 No. Employees Page 17
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 AMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 STAFF COSTS ICONTINUED) The key management personnel are the Trustees, the Dlrector and the former Trèasurer, as 58t out on page 3 of thls report. The Director and the former Treasurer are the only members who recgive employment remuneration from the Trust. During 2024125, total remuneration lo key management personnel amounted lo £26,498 12023124.. £40,960}. Remuneration is approved by the Executive Committee after considering the recommendations of the Remuneration Committee. In 8ettlng the levels of remuneration. the Remuneration Committee have regard lo compaiable pay levels in the University of Cambridgo. The number of employee8 whose employee benefits {excludlng employer pension costs} exceeded £60,000 was= 2025 No. 2024 No. In the band £80,001 - £90,000 TRUSTEES. REMUNERATION AND EXPENSES As slated on page 3, the key management personnel are members of tho executive committee which comprises the liustees. the Dlrector and the Trgasurer. The total paid lo Key Management Personnel by MCSC and CMEDT was £56.947 12024.. £84,087), including social security costs and pension costs. These cosls wefe apportioned beeen CMEDT and MCSC, therefore the nel charge to CMEDT was £28,47412024.. £40.9601. Durlng the year, no Trustees received any remuneralion or other benefits {2024- £NILI. During the year ended 31 July 2025. no Trustee expenses have been Inculd{202d- £NIL). TAXATION Cambrldge Malaysian Education and Development Trust is a registered charfly and is exempt from tax on Income and capital gains falllng within Chapter 3 of Part11 lo the Corporation Tax Act 2010 or Section 256 of the Taxation of Capil81 Gains Act 1992 to the extent that they are applied to its charitable objectives. No lax charges have arisen in the Charitable Trust. 10. DEBTORS 2025 2024 Amounts owed by Mal8y8I8n Commonwealth Studies Centre in Cambge Prepayments 8,109 6,193 7.591 7,591 14,302 Page 18
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAM8RIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Accruals Grant Commitments 7,188 14.400 10,000 7.188 24.400 Grant commltments rnconciliation 2025 2024 Grant commitment 88 al 1 August 2024 Grant cornmilm9nts Grants pald 10,000 124,763 566,678 {134,763) {556,678) Grant commltrnent a6 at 31 July 2025 10.000 12. PENSION COMMITMENTS The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independenlty adminlslered fund. The panslon cost charge represents contributions payable by the Charity to the fund and amounted to £nil 12024: £4,116). No balan was payable lo the fund al the balance sheet dale12024.' £nill. Page 19
Docusign EnvelopÈ ID". 7A028958-46084793-8309488F29D79478 CAMBRIDGE MALAYSIAN EDUCATION AND DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 13. RELATED PARTY TRANSACTIONS Some trustees have close tl8S Wlth the Unlversily of Cambridge and Its Colleges, and some of the officers and trustees are also officers or trustees of the MCSC with which the work of the trust 18 closely associated, as sel out in the Trustees, report on page 3. These related intere818 are induded in the register of declared interests of officers and trustees which 18 updated at least once a year. During the year. the trust paid £260,00012024.' £300.000 grant) lo MCSC, £174,179 of which was to settle an inter-trusl credllor balance and £85,821 was a granL The total value of shared costs between MCSC and CMEDT during the year was £359,785 12024.. £980,218). No amount was due lo or from MCSC and CMEDT at the year end (2024.. £8.109 balan dije from MCSCI. During the year, MCSC advanced £53,504 12024.. £42,000} towards th8 expenses In(rred by the Director on travels lo India, 50°k of these costs being subsequently claimed from CMEDT. Durfng the year, no funding was glven lo Cambridge Education and Development Trust for the CATS Slep project12024- £360,000 given of which £180,000 was recharged). A grant of £49,883 wa8 given to SEARRP. of which Henry Barlow is a Iruste&1£24.942 of this was recharged lo CMEDTI12024.. £104,564 given and £52.282 recharged lo CMEDTI. Whère a Iruslee is also a dlreclor or Iru81ee of a grantee. the trustee does not tske part in the funding deaslon. During the ar. the Trust received a donation of £100,000 from Cambridge Education and Development Trust ICEDTI. CEDT has Iru81ees in cornmon, one of whom is the Director ol MCSC and ChrtEDT, Dr Anll Seal. During the year. CMEDT made a £10.000 grant lo Samuel Walkgr. Samuel Walker Is a diredor of CATS Step Limited, a wholly owned subsidiary of CEDT. Page 20