Reglstered number: 06996970
Charity number: 1142875
THE GULF RESEARCH CENTRE CAMBRIDGE LIMITED
(A Company Umited by Guarantee)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

THE GULF RESEARCH CENTRE CAMBRIDGE LIM￿ED
{A Company Llmlled by Guarantee)
cOP￿ETr{rS
Page
Reference and adminÉstrative detalls of the Company, Its Trustees and advisers
Truslees. report
Independent examlner's report
Statement of financlal actlvlt
io
Balance Sheet
Notes to the financial statemen1$
12-18

THE GULF RESEARCH cEtr￿RE CAMBRIDGE LIMITED
(A Company Limlted by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
Dr Abdulaziz O Saoer
Dr Christian Koch
Mr Stuart Lain
Professor Giacomo Luryani
Professor Yasir Suleiman
Dr Abdullah Saleh Baatood
Dr Ahmed SaoeT
Dr John Sfakianakis
Company reglstgred
number
06996970
Charity reglstered
number
1142875
Reglstered offlce
clo The University of CamtWKlge Centre ol Islamic Studies, Facufty of Asian &
Middle Eastern Studies
S￿WIck Avenue
CafftbrKJge
9DA
Independent Examlners Peters Elworthy & Mwre
Chartered Accountants
Salisbury House
Slalion Road
Cambridg8
CB1 2LA
Bankers
HSBC Bank P
63.64 St Andrew3 Street
City Office
Cambridge
CB2 3BZ
Sollcltors
Mills & Reeve
Botanie House
100 Hills Road
Cambridge
CB2 1PH
Page 1

THE GULF RESEARCH CENTRE CAMBRIDGE LIMITED
IA Company Umlted by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual rep)rt together %Mth the finanual statemerns of the Company for the 1
January 2023 10 31 December 2023. The annual report serves the purposes of both a Trustees, rwrt and a
directors, report under company law. The Trustees confirm that the annual report and financial slalemenls ol the
charitable company comply wrth the current statutory requirements. the requirements of the charitable companls
governing document ar￿ the prowstons of the Slalemenl ol Recommended Practice ISORPI applicable to
charities preparing their accounts in accofdance the Financial Reporting Star￿ard applbcable in the UK and
Republic of Ireland IFRS1021 leffective 1 January 2019}.
&nce the Company qualrfies as small under section 382 of ihe Companies Act 21J)6. the strategic report
required ol medium and large companies urKler the Cofflpanies Act 2006 (Strategic Report and Directors,
ReF)Ortl Regulations 2013 has LEen 0￿rtt￿l.
OBJECTIVES AND ACTIv￿lEs
a. OBJECTIVES AND AcnvmES FOR THE PUBUC BENEFIT
The Gulf Research Centre's IGRCI objects are..
lal the advancement of education, learning arKI research lor the benelil of the public-
Ibl Witho￿ prejudice to the generality ol the foregoing. the conduct of a centre known as the The Gulf
Research Centre Cambridge loi the advancement of education a￿1 research on poliiical, social and
security issues and any othei matters relating lo the member countries of the Gull Co-operation Council
(Bahrain, Kuwait. Oman. Qalar. SaLKli Arabia and United Arab Emiralesl and other countries ol the Gulf
region including Iran, Iraq Yemen.
The Trustees conlirm that they have complied wtth the duty in Sect*)n 17 01 the Charities Act 2011 to have due
regard lo the Charity Commission's general guKJance on pubtic beneftt. The Gulf Research Centre Cambridge
Limited is a registered charity of which the charitalje purpose clefined writhin the Chartties Act 2011 is outlined
a￿Ve.
The Charity provides publio tr*nefft by promoling Ihe adVar￿ment of education and research on political,
economic. social arKI security issues and any other matters rdalirrfj to the memt*r countries ol the Gulf Co-
operation Council.
In setting objectives and planning lor actwrties. the Trustees have given due consideration to general guidance
published by the Charity Commission relating to pUt￿lC benelit. including the guidance 'Public benefit.. running a
harity IP821'.
Page 2

THE GULF RESEARCH CEKfRE CAMBRIDGE LIMITED
{A Company Lirniled by GUar8rtt￿)
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
OBJECTIVES AND ACTIVITIES IcoTr¥llNUED)
b. ACTIVfflES FOR ACHIEVING OBJECTIVES
In practi￿ the activities of the charit￿e company ale Ic￿sed on delNeriThJ these objects through a number of
approaches and policies incluthng..
lal
rigorous compliance international stylislic. pU￿lshing aThJ refereeing standards. The Charity engages
some distinguished and oulslanding scholars and researchers who execute the Cenlre's programs and
activities, in acklition to a number ol certified experts and members ol ils academic consultative board.,
Ibl to enlist a number ol young and promisiThJ researchers atKI experts to participate in Ihe Cenlre's
actiwties and programs, ottering them an oNx)rtunity to communicate and inleracl wtth more
experienced researchers., and
Icl
lo inject in￿rne back into new research wograms and actNities. As such The Gull Research Centre
Cambridge is able to weserve and maintain its independence arKI continuity.
ACHIEVEMENTS AND PERFORMANCE
a. REVIEW OF ACTIVITIES
The principal activities during Ihe first hall of 2023 centered around comyeting preparations for the thirteenth
annual Gulf Reseaich Meeting IGRMI.
The 2023 Gull Research Meeting Iwk l￿ace on 11-13 July 2023. GRM 2023 consisted of 13 research
workshops al various colleges ol the University of Cambridge and a number ol Cambridge hotels, bringing
together 280 participants from across the globe. Wort(shops were co-direcled by a total 0133 co-direclors and
covered a wide range ol issues relevanl lo the Gulf region arKI lrrternation￿Iy.
The follo￿ng research woiksFws IcM)k rlace within the GRM 2023 ITamework:
1. Sustainable Development FinarKing a￿1 the Role ot the Financial Sector in the GCC Flegion
2. Circular Economy and Sustaina￿e Development M(*Jel= h's Role in the GCC States, National Visions
3. Perspectives on Hard Securtty Issues in Ihe Gu
4. Industrial Policies in the Gull and the Mthle East
5. The Renewed and ExparKled Role ol the Gull on the Gl¢thl Energy Scene
6. Re￿nI Labour and Migration Reforms a￿1 Policies in the Gull.. Impact on Economies and Societies
7. The Leading Role of Gull Higher Education in Achieving Sustainability and Addressing Climate Change
8. Cultural Heritage in the Gum- Emerging TrerTrds, Identity Polttics. Challenges, and Concerns
9. Women in the GCC.. Negotiating Leadership. Power. and Change
10. Israel and the Gull Monarchies.. A New Region￿ Security Comt4ex or Just Complex Flegional Security?
11. The Future of the GCC as an Inslilulion
12. The Gum and the Hoin of Africa.. Trans-RegionJ Competttion arKJ Co0￿ratiOn
13. Innovation and Development of Knovledge Societies - The Transformational Impact ol Intellectual Propety
on Knowledge-Based Economic Giowlh wtth a Focus on Emerging TechnolcwJies. ArtiliciJ Intelligence and
IP linaneing.
Planning and information dissemination relating lo GRM 2024 was initiated directly after the eomplelion of GRM
2023 in order to give potential participants the maximum p)ssible lead lime to prepare.
Page 3

THE GULF RESEARCH CENTrE CAMBRIDGE UMITED
(A Company Llmlled by Guarnntee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
ACHIEVEMENTS AND PERFORMANCE {co￿llNuED)
A number of edited volumes and journal issues based on research pwrs originJly presented at Gulf Research
Meetings were either puNished or uThJer preparation dullrTrg 20ZJ'.
a. Challenges and Reforms in Gulf Higher Education.. Confronting the COVIO-19 Pandemic and Assessing
Future Implications IGRM 20221 Published (Hardback)
b. Gum States and the Indo-Pacrfic: Agents or Objects ol GeoF(>lilical Competition? IGRM 20221
Published as a special journal issue
c. Living Together Separately.. Social and Cullural Implulions of Migration to the GCC Countries IGRM
20221- Published as a special joumal issue
d. Economie Statecraft, Coercion, and Resil1e￿e in tt)e GUM IGRM 20221
publication through CambrKlge University Press
e. The Dimensions ol Saudi Arabia's Soft Power {GRM 20221- Under preparation
Saudi Youlh 'Policy Relevance,: Dilemmas, Chalenges. Opportunities IGRM 20211- UrKler preparation
g. Innovation a￿1 Development of Knovledge Societies IGRM 20¥31- UrKlei preparation.
Under preparation for
FINANCIAL REVIEW
a. RESULTS FOR THE YEAR
The results for the year are set out in the attached financial statements. Total income amounted to £311,558
12022.. £238,200) which. after total expenditure ol rJ17,843120T2'. £272.2651, resurted in a net deficit of £6,285
12022.. £34,065) lor the year. Al the end of the year. the Charity had nel assets of £10.00212022'. £16,287).
RESERVES POLICY
At 31 D￿M￿r 2023, reserves amounted to £10.CK)2 {2022: £16,28n, of which £Nil were restricted 12022..
£Nill.
The Trustees have agreed to pul in FAace a rese￿eS ￿K￿￿Y wth the intention of building up and maintaining a six
month operational reserve in future years to lacilTtate smoolh operations. including planning and implemenlalion
of tuture Gtjtt Research Meetings, a￿1 enabling the Charity to cover delays in the ieceipt of income a￿1 olhei
unforeseen circumstances in a timely manner.
This will be achieved through additiorbal focused fu￿1raIsIng inibatives combined with well-reasoned cost
reductions.
b. GOING CONCERN
The Trustees have remewed forecasts and bL￿gets and have a reasonable expectation that the Charity has
adequate resources lo continue in operational existence for the forseeable future. Accordingly. the financial
statements continue lo prepared on the goirwJ Con￿rn basis
Page 4

THE GULF RESEARCH CEirrRE CAMBRIDGE LIMITED
{A Company Umited by Guarantee)
TRUSTEES. REPORT (Cop￿INUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
¢. FUTURE PLANS
The world continues lo experienee a WKle range of conflicts. The question ol how lo address these confticls and
how to reach solutions is more imwrtanl than ever the GUM Tegion and globally. This, together with the
onlinuing Iranslormations and transitions taking place in the Gull countries, gives rise lo a challenging
landscape to navigate into the lutuie. A great need exists to bring together kno¥￿edgeable researchers who have
analysed this complex situation with the goal of lacililaling the exchange of research-based views and the
identilicalion of innovative and sustainable paths into the fLrture for the Gull region and beyond. This is precisely
the purpose ol the Gull Research Meetings organised by GRC Cambridge.
Looking to the future. the Trustees therel￿e interKI to IC￿￿S patticulaty on the following..
Continue the Gull Research Meetings in phYSic￿-￿esenCe mijde to maximise communication and synergy.
with only very limited virtual-mode parncipation. Concentrate on choosing workshop topics ol high relevance
and workshop directors ￿1h excellent credenlids.
Stimulate deeper research collaboration on Gulf issues gl¢knlly provKle a space lor open arKI frank
exchange of research-based views. Whe￿ researchers ol dtfferenl backgrourKls and specialties can gather
together to gain a better underSta￿lINj ol the forces defining the Gum region and help lo shape these forces
in creative. solution-oriented ways.
Continue the work on estatAishing a GRC Cambrithje Advrsory Board of experts that could meet annually on
Ihe SKlelines ol the Gull Research Meeting, Mlh the goal of introducing new and innovatory ideas relating lo
the Gull legion and ils path into the future.
Continue the ongoing Work of establishing long-temi rela￿nShIpS wilh acthmic publishers lo facililale
straighttorward and timely publication of research papers originating from the Gulf Research Meetings.
Continue lo extend the GRC caMbr￿e inleractM)n arKI engagement wlh the University of Cambridge
environment. The goal is to enhance cooperalKsn ￿th various departments and eentres ol excellence wthin
the University through collaborative resewch projects focusing on the Gull region.
Page 5

THE GULF RESEARCH CENTRE CAMBRIDGE LIM￿ED
{A Company Llmlted by Guaranlee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
a. CONSTITUTION
The Gull Research Centre Cambri(kJe knmtted is regisler￿1 as a charitsue company limr(ed by guarantee,
incofporaled on 20 August 2009 and registered as a charity on 14 Jufy 2011 as The Gull Research Centre
Cambridge Lifflited. registered charity numter 1142875. The Company was constituted under a Memorandum ol
Association, which established the obiecls and powers of the charitable company and is govemed under its
Articles ol Association.
b. METHODS OF APPo1F￿MENT OR ELECTION OF TRUSTEES
The directors ol the Charitat4e Company are dso charrty Iruslees lor the purFrf)ses ol charity law and are
appointed by the company in general meetings or by the directors. A director appointed by a resolution ol the
other directors must retire al the l0Slowing annual general meeliThJ.
The attairs of the Charity are on a relatwely small scale. Accordingly. there are no formal policies regarding the
iinduction and training ol trustees.
c. ORGANISATIONAL STRUCTURE AND DECISION MAKING
The Charity is managed directly by the Trustees. The names of the Trnstees who served during the year are
listed in the relerence and administrative detsils as sel out on page 1.
The Board reports lo, and ratrfies applications lor membership ol, The Gull Research Cenlre Cambridge Limited.
Members of the Board lead arKI coor(tinate the charilaue activiiies of the Charity..
Page 6

THE GULF RESEARCH CEprrRE CAMBRIDGE LIMITED
(A Company Llmited by Guarantgel
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
STATEMEpif OF TRUSTEES. RESPON9BILmES
The Trustees (who are also the directors of the Company lor the wtposes ol company lawl are responsible lor
preparing the Trustees, report aThY the financid slalemenls ill accordance wth applicable law and United
Kingdom Accounting Standwds (United Kingdom Gener￿ty Accepted Accounting Practice).
Company law requires the Trustees lo prepare financiat slalemenls foi each financial . Under company law. the
Trustees musl not approve the financial statements unless they are satisfied that they give a true and lair view ol
the state ol affairs of the Company and ol its incoming resources a￿1 apPI￿ation ol resources, including its
income and expenditure, lor that peri(xl. In prep￿Ing these financial slatemenls, the Trustees are required lo..
select suitable accounting p￿￿leS and then apwy them consistently,.
observe the methods and prInUF￿es of the Chartlies SORP IFRS 1021-
make judgments and accounting eslimales that are reasonatde arKI prudent-
stale whether aswlicable UK Accounting &andards IFRS 1021 have teen lollowed, subject to any material
departures disclosed armj explained in the financi￿ statements-
prepare the financial statements on the going co￿eM basis unless it is ina￿rOpriate lo presume Ihal the
Company will continue in business.
The Trustees are responsible tor kegxng ad￿uate a(xounling records Ihal are sufficient to show and explain
the Companls iransactions and dI￿10$e wlh reasonable accuracy al any time the financial position of the
Company and enable them to ensure that the financi￿ slalemenls comply with the Companies Act 2006. They
are also responsible for safeguarding the assets ol the Company and hence for taking reasonable steps lor the
prevention and detection of fraud arKJ Olher irregulartties.
Approved by order of the memtr*rs of the LKiard of Trustees a￿1 signed on their behalf by:
Dr Abdulazlz O Sager
Dale.. I l
Page 7

THE GULF RESEARCH CEP￿RE CAMBRIDGE LIMITED
(A Company Limlted by Guarantee)
INDEPENDEp￿ EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GULF RESEARCH CENTRE
CAMBRIDGE UMITED {'the Company.)
report to the charity Trustees on my examination ol the acc¢yJMS of the Company for the year ended 31
December 2023.
RESPONSIBILrriES AND BASIS OF REPORT
As the Trustees ol the Company larKJ ils directors for Ihe purwses of company lawl you are responsible lor the
preparation of the accourts in accordan￿ ￿ the re(NJirements of the Companies Act 2006 {Ihe 2006 Acri.
Having satisfied fflysell that the accounts ol the Company are not required lo be audited under Part 16 of the
2006 Act and are eligible foi independent examination. l report in respect of my examination ol the Companls
accounts carried out under section 145 of the Charities Act 2011 I'lhe 2011 Acl'l- In carwng out my examination
I have followed the Directions given by the Charity ComMiss￿n urKler section 14515){bl of the 2011 Aet.
INDEPENDENT EXAMINER'S STATEMEP
Since the Companys gross income exceeded £250,000 your examiner musl be a member of a body listed in
section 145 01 the 2011 Act. I confirm that l am qualilied lo undertake the examination because l am a member
of lenler body here), which is one ol the listed t(#thes.
I have completed my examination. I confirm that no matters have come lo my altention in connection with the
examination giving me cause to believe:
accounling records were not kept in respect of the Company as required by section 386 of the 2006 Act.
or
the accounts do not accord with those r￿ords.. or
the accounts do not comply wtth the aecounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a Irue arKI view which is a matter consideied as part of
an independent examination.. or
the accounts have not been prepared in accordance with the melh¢yJs arml principles ol the Statement of
Recommended Practice lor accounting and rewrtiThJ by charities lapplicable to charities preparing their
accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 10211.
I have no concems and have come across no other matters in connection %Mth the examination lo whieh
attention should be drawn in this report in order to enable a proper UrKIersta￿1Ing ol the accounts to be reached.
Page 8

THE GULF RESEARCH CEprrRE CAMBRIDGE LIMITED
{A Company Limlted by Guarnntee)
INDEPENDEKf EXAMINER'S REpoiYf (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
This report is made solety lo the Company's Trustees. as a body, in accordance with Part 4 01 the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so Ihal I might state to the Company's
Trustees those matters l am required to slate lo them in an indetxndent examinerfs report and for no other
purpose. To the lullesl extent permitted by law. l (lo not accept or assume responsibility lo anyone other than the
Company and the Companys Trustees as a body. for my worl( or for this report.
Signed..
ck)Aol tkK
Dated. IL Twly ZOV
FCA DChA
Michael Hewett
Peters Elworthy & Moore
Salisbury House, Station Road, CambrKlge, CB12LA
Page 9

THE GULF RESEARCH CENTRE CAMBRIDGE LIMITED
{A Company Llmlled by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 DECEMBER 2023
Restrlcted Unrestricted
lunds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Note
INCOME FROM:
Donat￿nS
CharitabEe activilies
267,242
307,242
4.316
220,212
17,988
4,316
TOTAL INCOME
44,316
267,242
311.558
238,200
EXPENDITURE ON:
Charitable actiwties
311,681
6,162
317.843
272,265
TOTAL EXPENDrruRE
311,681
6.162
317,843
272,265
NET IEXPENDITURE)IINCOME
(267,3651
267.365
261.080
{267.36S)
(6.285)
134.0651
Translefs between funds
NET MOVEMENT IN FUNDS
(6,285)
16,285)
134,0651
RECONCILIATION OF FUNDS:
Total funds brought forward
Net rnovement in furMIs
16,287
(6.285)
16.287
16.285}
50,352
134,0651
TOTAL FUNDS CARRIED FORWARD
10.002
10.002
16,287
The Statement ol financial aobmties includes dl gains ￿ losses reccrtjnised in the year.
The notes on pages 12 to 18 form part of these financial statements.
Page 10

THE GULF RESEARCH CENTRE CAMBRIDGE LIMITED
IA Company Llmiled by Guarantee)
REGISTERED NUMBER: 06996970
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
CURRENT ASSETS
Debtors
Cash at bank and in hand
13,917
8,963
11,168
14,532
22.880
Creditors.. amounts lafiing due %wthin one
year
(4.5301
16.5931
NET CURRENT ASSErs
10,oir2
16,287
TOTAL NET ASSErs
10.1102
16.287
CHARITY FUNDS
Reslricled lunds
Unrestricted funds
10.002
16,287
TOTAL FUNDS
10,002
16,287
The Company was entitled lo exemption from audrt uThJer sedion 477 of the Companies Act 2006.
The members have not required the company to Lthn an a￿11 for the year in question in accordance with
section 476 01 Companies Act 2006.
The Trustees acknowledge their responsit4lilies for Com￿y1ng ￿￿th the requirements of ihe Act with respect lo
accounting records armj preparation of financial statements.
The financial statements have prepared in accordance wilh the pmwsions awlicable lo enlilies subject to
the small companies regime.
The financial statements were awroved and authorised lor issue by th8 Trustees signed on their behalf by..
Dr Abdulaziz O Sager
Date.. 11 Jul aoL*
The notes on pages 12 10 18 lomi part of these financi￿ staiements.
Page 11

THE GULF RESEARCH cETr￿RE CAMBRIDGE UMITED
{A Company Limiled by Guarantee)
NOTES TO THE FINANCIAL sTATEmE￿s
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
1.1 BASIS OF PREPARAnON OF FINANCIAL STATEMEPITS
The financial statements have been prepared in accordance %wth the Charities SORP IFRS 1021-
Accounting and Rewrting by Charities.. Statement of Recomfflended Practice applicable lo charities
preparing their accoijnts in ac(x)rdance with the Financial Reporting Standard applicable in the UK
armj Republic ol Ireland IFRS 1021 lettective 1 January 20191, the Financial Reporting Standard
applicable in the UK Reput￿1¢ ol IrelaThJ IFRS 1021 aThJ the Companies Act 2006.
The Gulf Research Cenlre Cambridge Limited meets the definition of a public benefit entity under
FRS 102. Assets and liabilities a￿ initially recognised at historic￿ cost or transaction value unless
otherwise stated in the relevant accwnling FK)Iicy.
There are no signilicanl estimates al the rewrting ¢Jate that have a risk of causing a material
adjustment to the carrying amounts of assets and liabilities wtthin the next reporting period.
1.2 COMPANY STATUS
The company is a company limited by guarantee. The member ot the company is the Gull Research
Cenler Foundation and is represented by a trustee, Di Christian Koch. In the event ol the company
being wound up, the liabilty in resF*ct ol the guarantee is limited to £10 per member ol the company.
1.3 GOING CONCERN
The Trustees have reviewed forecasts and t￿dgetS arKI have a reasonable expectation that the
charity has adequate resources lo continue in operational existence lor the foreseeable future. A
small surplus is budgeted for 2024. wth a large prowrtion of the income being mel by Gull Research
Center. Jeddah. Accordingly. the finan￿￿ statements continue lo t£ prepared on the going concern
basis.
1.4 FUND ACCOUNTING
General funds are unrestllcted funds which are availaNe lor use al the discretion of the Trustees in
ftjrtherance of the general objectives of Ihe Company which have not been designated lor other
purposes.
Restricted funds are lurKis which are to ￿ used in accordance ￿￿th ssxcilic reslriclions imposed by
donors or which have been raised by the Company for particular purFx>ses. The costs ol raising and
administering such funds are charged against the SFwifK fund. The aim and use of each restricted
fund is set out in the notes to the finarrial statements.
Page 12

THE GULF RESEARCH CETr￿RE CAMBRIDGE LIMITED
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES (coP￿INUED>
1.5 INCOME
All income is recognised once the Company has e￿Itlement to the income, it is probable that the
income Mll L* received the amount ol inu)me r￿Nable can be measured reliably.
Grants are included in the slatemenl of financial aclivtties on a r￿e1Vable basis. The balance of
income received lof SFxulic purFX)ses bul not expe￿ during the period is shown in the relevant
funds on the balar￿e sheet. Where income is received in advance ol enlillement ol receipt, ils
recognition is deferred and included in credrtors as deferred income. Where enlillemenl occurs
betore income is ieeeived, th& income is accru&l.
Other income is recognised in the period in which il is receN&le arKI lo the extent the gocxys have
been provided or on completion ol the service.
1.6 EXPENDrruRE
Expenditure is recognised 0￿e there Is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable Ihal a transfer of economic benefits will be required in settlement and
the amount ol the obligation can be measured reliat4y.
All expenditure is accounted for on an accruals basis. Al expenses including support costs and
governance costs are allocated to the appEicable expendtture headings. Governance costs are those
incurred in connection wlh administration ol the company and comFAiance with conslilulional and
statutory requirements.
1.7 HNANCIAL INSTRUMEfrITS
The Company only has financi￿ assets and linancid liabilities ol a kind that qualify as basic financial
instruments. Basic financial instruments are initiauy recognised at Iransaction value and subsequently
measured al their settlement V￿Ve.
1.8 DEBTORS
Prepayments are valued al amount pryd net of any Irade discounts due.
1.9 CASH AT BANK AND IN HAND
Cash al bank and in hand indudes cash and short-term highly liquid investments wilh a short malurily
of three months or less Iiom the dale ol acquisiiion or opening ot the dewsil or similar account.
1.10 CREDITORS AND PROVISIONS
Creditors and provisions a￿ Tecognised where the company has a present obligation resulling trom a
past event that wll probably result in the transfer ol funds lo a third paty and the amount due to settle
the obligation can be measured or eslimaled Teliably. Creditors armj provisions are normally
recognised al their sett￿Ment amount after allow"rvJ for any trade discounts due.
Page 13

THE GULF RESEARCH CETr￿RE CAMBRIDGE LIMITED
(A Company Limrfed by Guardnlee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES (COP￿INUED>
1.11 FOREIGN CURRENCIES
Monetary assets and liabilities denominated in foTewJn currencies are Iranslaled into steding at rates
ol exchange ruling al the repK)rting date.
Transactions in foreign currencies are translated into sleAiThJ al the rate ruling on the date of the
transaction.
Exchange gains losses we r￿niSed in the Statement of Financial ActiMti8S.
INCOME FROM DONATIONS AND LEGACIES
Restricted Unrgstricled
funds
funds
2023
Total
funds
2023
Total
funds
2022
Grants atKI ch)nations
267,242
307.242
220.212
TOTAL 2022
150,150
70,062
220,212
INCOME FROM CHARITABLE ACTIVThIES
Restrl¢ted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Consultancy lees
Listening Participant lees
14.000
3,988
4.316
4,316
4.316
4.316
17.988
Page 14

THE GULF RESEARCH CENTRE CAMBRIDGE LIMITED
IA Company Llmiied by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ANAL YSIS OF EXPENDrruRE BY AcnvmES
Aclivltles
undertaken
directly
2023
Support
costg
2023
Total
funds
2023
Total
funds
2022
GFIC meetings
312.805
5.038
317.843
272.265
TOTAL 2021
266.956
5,309
272.265
ANALYSIS OF DIRECT COSTS
Total
funds
2023
Total
lunds
2022
Meeting costs
Organising wod(shops
Prinling and shipping
General expens6S
192,120
31,155
2,139
87.391
159,876
16,455
7.384
83,241
TOTAL 2023
312,805
266,956
ANALYSIS OF SUPPORT COSTS
Total
funds
2023
Total
funds
2022
Accountancy lees
Legal and professional fees
4,530
4.344
965
TOTAL 2023
5.038
5,309
Page15

THE GULF RESEARCH CENTRE CAMBRIDGE LIM￿ED
{A Company Llmited by Guaronleg)
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 DECEMBER 2023
INDEPENDENT EXAMINER'S REMUNERATION
2023
2022
Fees payable to the Companvs i¥K*endent examiner in respect of..
The independent examination ot the Companys annual accounts
All other services not irt[Ud￿ above
2,000
2.530
1,920
2,424
TRUSTEES. REMUNERATION AND EXPENSES
The Charity had emkknyees in the year. and consmlers tts key managemenl personnel to be the
Tnjstees. who all gNe their lime arxl experhse wthout any form ol remuneration or other benefit in kind.
During the year. no Trustees receNed any remuneration or other b8nefrts12022 - £NIL).
During the year ernled 31 December 2023. 5 Trustees were reimtxjrsed a total of £13,081 in respect of
travel expenses incurred on the Charivs behalf 12022.. £11,572 to 5 Trusleesl, including £1,500 of
w&ved expenses. At the year end no t>alance vras payatAe lo the Trustees 12022.. £1,500 payable lo 1
Trusteel.
DEBTORS
2023
2022
DUE WITHIN ONE YEAR
Prepayments
3A64
13.917
3.364
13.917
CREDrroRS: AMouKfs FALLING DUE wrrHIN ONE YEAR
2023
2022
Accruals
4,530
6,593
Page 16

THE GULF RESEARCH CENfRE CAMBRIDGE LIMITED
(A Company Limiied by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 20Z3
STATEMENT OF FUNDS
STATEMENT OF FUNDS- CURRENT YEAR
Balance at
31
December
2023
Balance at 1
January
Transfors
inlout
I￿oMe Expenditure
UNRESTRICTED FUNDS
General Funds
16.287
267,242
16,162)
1267.365)
10,IX12
RESTRICTED FUNDS
Gulf Research Meeting
44,316
{311.681)
267,365
TOTAL OF FUNDS
16,287
311,558
(317.843)
10,002
Restricted funds represent donations aTrY giants receiv￿1 towards the annual Gull Research Centre
meetings.
Transfers from unrestricted to restricted fur￿ were made where spend on the athity was in excess of
Ihe original income received.
STATEMENT OF FUNDS- PRIOR YEAR
Balance at
31
December
2022
Balar￿ al
1 January
2022
Transfers
inloul
Income Expermliture
UNREsfRICTED FUNDS
Geneial Funds
48.207
84.062
113.2681
1102,7141
16,287
RESTRICTED FUNDS
GUM Research Meeting
2.145
154.138
{258.9971
102,714
TOTAL OF FUNDS
50.352
238,200
{272.2651
16,287
Page17

THE GULF RESEARCH CENTRE CAMBRIDGE LIMITED
(A Company Lirnited by Guaranleel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10. ANALYSIS OF ASs￿s BEtWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURREKf PERIOD
Unreslricled
funds
2023
Tolal
funds
2023
Current assels
Creditors due within one year
14,532
14,5301
14,532
14.5301
TOTAL
10,002
10.002
ANALYSIS OF ASSEfs BEtWEEN FUNDS- PRIOR PERIOD
Unreslricled
funds
2022
Total
funds
2022
Current assets
Ciedilors due within one year
22.880
{6,5931
22.880
16,5931
TOTAL
16,287
16,287
11. RELATED PARTY TRANSACTIONS
The Gull Research Centre Cambbrdge Limiled has one member. Gulf Research Center Foundation.
Dr Abdulaziz Sager is Chairman of GUM Research Cenler, Jethjah, which provided funding of £264,993 in
the year12022= £70.0621.
Page 18