Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
Charlty number: 1179724
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
CONTENTS
Page
Rfrferencg and Admini#tratlve Detalls of the Charlty, Its Trustgos and Advlsers
Trustees. Report
Tru$tsg$' Responsibilitios Statement
Independent Examlnorfs Report
9-10
Statement of FSnanclal Actlvltlos
Balancg Shgot
12
Notes to the Flnanclal Ststsmgnts
13-21

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 JULY 2025
Trustees
Dslo, Henry Barlow
Mr Jeremy Carver
Professor John Lonsdale Iresigned 21 September 20241
Dr Gordon Johnson (appointed 22 September 20241
Charlty reglstered
numbgr
1179724
Prlnclpal office
Pok Rafoah House
11 Madingley Road
Combridge
CB3 OEG
Director
DrAnil Seal
Treasuror
Mr Darren PU￿11 A
Independent Examlnor
Peters Eknrthy & Moor8
Chartered Accountsnts
Sallsbury Houso
Slalion Road
Cambridge
CB12LA
Bankers
National Weslmlnsler Bank PIC
Carnbridge
C82 3NE
Page 1

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 JULY 2025
OBJECTS AND PURPOSES OF THE CENTRE
The Malaysian Commonwealth Sludles Centre in Cambridge IMCSCI was established by Trust Deed, dated 30
Aprfl 1995, with Ihe aim of furthering Commonwealth Studies. primarily In the University of Cambridge but also
elsewhere in cooperation, where appropriate, with other trusts. The Trustees hold the funds raised for the Centre
for application in accordance with the purposes set out in the Trust Deed.
ORGANISATION AND MANAGEMENT OF THE CENTRE
MCSC was origlnally 8Stablished as an exempt Gharity under. what is now, Schedule 3(28} of the Charities Act
2011 on account of ils connection with the University of Cambridge.
In vw of the increaslngly close relationship btheen the acllvilies of the MCSC and the Cambridge Malayslan
Education and Development Trust ICMEDTI. the Finance CDmmittee of the University Tecommended that
folding-in of the two trusts should take place. Thls 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 th9 Trust Deed to enable inter alia MCSC lo become a charity registered with the Charty
Commission rather than as an exempl charity under Ihg auspices of the University. The Obj&cls and Purposes
of the charity remain unchanged. As at 31 July 2025 the folding-in has not been 8xeculed and the Iwo trusts
continue to report Ihelr financial rosulls separately. To date. no transfer of assets has taken place. and no
declsion has been taken regardlng when such a transfer might occur. CMEDT and MCSC conllnue lo remain
separate and disllncl charities. However. they are managed on a unified basis.
Under the leims of the amended MCSC Trust Deod, the followlng serve as Trustees..
Professor John Lonsdale (Chairman and Tiustgel Trtired on 21 S&ptember2024
Dr Gordon Johnson (Chairman and Truste81 from 22 Sept&mb8r 2024 for thTre yea
Dato, Henry Barlow (Deputy Executive Chaimanl unlil 11 July 2026
Mr Jeremy Carver until 11 July 2026
Glven the fin8nryal circumstance8 of the Trust, all appDintment8 of Trustees are subiecl to annual reviw.
The Charity Commisslon regi8t8red the MCSC as a charity (Regislralion Number 11797241 on 29 August 2018.
Adminlstratlve arrangements
MCSC'S base is at 11 Madingley Road, Cambildge. Thls properly comprises a detached freehoFd house owned
by the Yayasan Pok Rafeah Berdaftar and is leased lo the MCSC for a peppercom rent in return foi upkeep of
the property, costs that are shared with CMEDT. The MCSC rèmains most grateful lo the Yayasan Pok Rafeah
Berdaftar for Ihelr generosity. No value has been included in the accounts for this donalton.
During 2024-25, administrative and secretarial assistance for the MCSC was provided al the Centre'5 base al 11
Madlngley Road.
Roeruitment, inductlon, and tralnlng of Trustèes
All Trustees have considerable administrative experience and knowledge of related governance prO￿dUre8. In
most Cases having run or held senior positions in educational, business or professional inslilulions. Some
Trustees are leading figures from within the University of Cambridge and ils College3. 11 is the polScy of the Trust
that all new Trustees should receive full minutes of pievious meeting8 of Trustees and Ihelr Executive
Commiitee as well as details of accounts and budgets for at least three years prlor to appointment,. that they
should recelve a copy of the Trust Deed and any rules and regulatlon8 made under it; and that they should be
given an Informal briefing by the officers and invlted lo conlacl the Chairman ol the Executive Committee for
further and better particulars or for any matters adslng after pgrusing background popers. Further identified
training requirements are mel on an ad hoc basis.
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Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2025
oriicers of the Trust
The following setved as officers of MCSC Isuring the financial year 2024-25.
Professor John Lonsdale 85 Chainnan of the fruslees..
Dr Anil Seal as Director of Ihg Malaysian Commonwealth StUd￿s Cent￿.
Dalo, Henry Barlow as fnJste& and Deputy ExeGulive Chalm)an, based in Malaysia..
Dr Nicholas Branson as Treasurerof the Malaysi8n Gommonwe&lth Studies Centre until June 2025.
Mr Darren Purcell as freasurerof Ihe Malaysian Commonweallh Sludi8s Gent￿ frorn June 2025
Professor Lonsdale retired from 21 September 2024. and was succeeded as Chairman by Dr Gordon Johnson.
By resolution of the Trustees, the tenure of officer8 is until 11 July 2026.
Executive Committee
Chairman (Professor John Lonsdale unbl 21 S8Ptember 2024,. Dr Gordon Johnson from 22 September
20241.,
Director (Dr Anil Seal).,
Deputy Executive Chairman (Dalo, Henry Barlow).
Treasurer (Dr Nicholas Branson unlll June 2025., Mr Darren Purcell from June 2025)
Remuneration Committee
the ExeGutive Committee (exclusive of any offI￿r whose own stipend Dr honorarium was being determlned)
ACTIVITIES OF THE CENTRE AND DEVELOPMENTS DURING THE YEAR TO 31 JULY 2025
The Cenlre's core purposes 8re lo help fortify the connections ba￿een Cambridge and the countries of the
Commonwealth by programmes concemed wllh Commonwealth studies (whether education. research, or public
policy), in cooper81ion with other bodies in Cambridge and beyond.
In pursull of Ih8se aims, the Centre works closely with the C8mbrldge Malaysian Educallon and Development
Trust ICMEDTI, whose int&rests are closely related lo Ihose of the Centre.
For the avoidance of doubl, the Trustses havg approved th8 following dofinilion of'commonwealth Studies,: For
the purposes of wc>rk supported by the Malaysian Commonwealth Studies Cenlre, the term 'Commonweallh
Studies, shall be deemed lo cover mallers, of both academic and strategic import, which are of conc6m within
the Commonwealth or whreh have a bearing on the Commonwealth.
tivities of the Trust
The core remit Is lo promote Cambridge's relatlonship with Malaysia and. more broadly. wlh the developing
countries of the Commonwealth and beyond. where Cambridge has the experience and oxpertise lo make
important conlrlbulions.
The Trust's programme of activities, in conjuncllon with the Cambridge Malaysian Educ91ion and Development
Trust ICMEDTI, has continued lo be pursued as 8Ctively a8 POS8ible given financial con81rainls. The four current
programmes are:
Affordable EducatSon
111) The Miligalion of Climate Change and Natural Disasters
liiil Sustainable Development and Smart Villages
liv} Electoral Democracy in the Commonwealth land beyond)
Income of the Trust
In response lo a request put by the Trust lo the Malaysian Government in 2020, the Government of Malaysi8
agreed to m8ke addS1ional contributions lo CMEDT of £1m a year for three years from 2020-21. The first of these
contributions was received by CMEDf in February 2021, and the second on 6 June 2022. The third conlributlon
was received by CMEDT shortly after the 2022-23 year-end. In 2023-24, CMEDT Ir8nsferred £300.000 lo MCSC
Page 3

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 JULY2025
in November 2023.
The principal income for the year-end 2025 was a donation of £85,821 from CMEDT. Thls contribution was
result of the Su￿ssful sale by Cambridge Education and Development Trust's wholty owned company CATS
Slep Limited of the product CATS Step, whose development MCSC, together with CMEDT. had supported for
many years.
3.1 AFFORDABLE EDUCATION
Engllsh Languaga Lgarningj Teaching and As8e88ment
Background
A key romil addressed by MCSC18nd CMEDD since 2010 was to help Malaysia improve the proficlency of its
people8 In the Engllsh languago.
Accessiblo T8Sting System f¢ats step)
The Accessible Testing System cats step. created by tho trusts, repTesenls an Innovative and unique system of
learnlng and assessing functional English. Among ils core purposes. the system has been designed lo enable
pupi15 of varying 8bllitles and from different backgrounds lo improve their proficiency in English through a slep-
by-step process, with the learning material being an integral part of the system along with the assessments. The
system Is callbraled against CEFR stsndards.
After many years of investment in cats slep, the sofiware was finally sold by CATS Stsp Limited (the company
tasked with ils development and a subsidiary of the Cambridge Education and Development Trust {CEDTI which
has trustees in common with CMEDT and MCSCI lo Peoplecert, a global teader in the assessment and
certification of professional skills. The right to d&ploy the intellectual property in Malaysia has been rolained by
CATS Slep Limited. The proceeds from the sale lo PeOple￿rt amounted to £700,000. As noted earlier, during
2024-25 MCSC received £85,821 from CMEOT., this donation was ma(le possible by the sale of cats slep. The
Trustees expect further donations lo be received In the comlng years.
THE MITIGATION OF CLIMATE CHANGE AND NATURAL DISASTERS
Danum Valley, and the South East Asla Ralnforfr5t R8sear¢h Partnershlp ISEARRP)
The continuing support by MCSC and CMEDT for Danum Valley, via SEARRP, has been vital In underplnning
the long-lerm monitoring and data collection programmes essential in an erd of global environmental change, In
particular the seminal contributions that SEARRP and Danum Valley makg lo the development of conservation
and suslainabilily policy and best-practlce in Malaysia and, through Malaysla, for tho world.
Links with Cambridge remaln integral to future plans, particularfy through the work of many Cambridge-based
academics who collaborate with SEARRP, notably the cent￿ for Atmospheric scien￿ at Cambridge, chaired by
Professor John Pyle, who is also chair of the SEARRP Board of TNstees on which Dalo. Henry Barbw. Trustee
of CMEDT and MCSC, also serves.
Aslan Network of Cllmate Sclenco and TgGhnology {ANCST) and the Wlndow-to-cambridge at UKM
The establishment of the Asian Nelwork on Climate S¢4ence and Technology, which, since ils launch in 2013
¥Jnder the leadershlp of Professor Lord (Julian) Hunt of Chesterton la Trustee of CMEDTI, together wllh
Professor Joy Perelra (now also a Tru51ee of CMEDTI. who leads UKM'S Soulh-Easl Asia Dlsa8ter Prevention
Inillalivg ISEADPRII, has created a flourishing international network whlch has facilitated wllaborallon and the
exchange of information between world-class researchers on the scientific and technological aspects of climate
change and cllmale drlven disasters specific lo Asian conditions.
From its base al SEADPRI-UKM, with support from workl-class Institutions In the Commonwealth and beyond,
ANCST coordinates special topic groups on key climate Scien￿ and technology topics, ongaging and mobllisSng
more than 2.500 scionlists, policy-makers and privale-sector practitioners through over 50 workshops and
Page 4

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2025
as8ocSaled event8.
3.3 SUSTAINABLE DEVELOPMENT AND SMART VILLAGES
Among PToje¢ts supported by CMEDT and MCSC in Tecgnt years afe a community energy projed in Tanzania, a
mlnlgrld project in Uganda, a prolocl to Glean plasllc waste from river systems in and around N8irobi, Kenya, a
mobile mlnlgrtd project in Kenya, a farm irrigation system for rural off-grid farmers in Uganda, and a minlgrid
project in Lesotho. Recently completed projects include a low-cost cold-slore project in Uganda. a remote
access-lo-heallhcare project, an off-grid technology projeGI in Tanzania, and a minigrld modelling tool for
Malaysia and Somaliland.
3.4 GOOD GOVERNANCE AND ELECTORAL DEMOCRACY IN THE COMMONWEALTH (AND BEYOND)
For the past 20 years MCSC. together with CMEDT since its eslablishmenl, have played the key role In
establishing and leading an annual Cambridge Conference providing a forum in which Chlef Election
Commissioners and those who lead Election Management Bodies in the Commonweallh18nd beyond) can meet
together lo exchange infomation and ideas about pollcy and practice in superlnlending elections which are as
free and as fair as circumstances permit.
OTHER ACTIVITIES
Awards In collaboratlon wlth tho Nehru Trust for Cambrldge Unlverslty {NTCUI
During 2024-25 MCSC, in collaboralior¢ wlth other bodies, supported al Cambridge University one Ph.D. student
lin Economics and Land Economy) (2023-24.. Iwo Ph.D. students in Economics and Land Economy and
students taking the MBA Degree).
PUBLIC BENEFIT
The above accounts of the Trust's activities amply demonslrale the public benefll arlsing from each programme.
Affordable education. sustainable development, food security, the miligalion of cllmale change and nalurol
disasters, and the promollon of 8lecloral democracy in the Commonwealth and beyond, are selfévldenlly
programmès of great actual and potential benefit to the public.
The Trustees are satisfied that the activities of the Trust, as described In this report and in the accompanying
accounts, are entirely for charitable purposes and fully meet the 'public b&nefil' requirement of the Charities Act
2011. The Trustees confirm that they have referred lo the guidance conlalned In the Charity Commission's
general guKlance on publlc benefit.
CAPITAL POSITION AND INVESTMENTS
The Centre was established with monies generously, and wholly and exclusively. donated by sources in Malaysia
which had been encouraged by the Government of Malaysoa to make these benefaGlions.
The funds of the Centre are currently hekl In the Natwest bank account.
In recent years the trust has relied on donations from CMEDT lo remain a going concem. The Trust's future
depends crilically upon securing additSonal income. The possibility of some form of merger with CMEDT remains
for future consideration by the Trustees of the Irusls.
The Trustses do nol have an ethical investment pollcy as such. relyng on the policies adopted by the University
in respect of118 Endowment Fund and M&G in respect of Charifund.
ASSESSMENT OF FUTURE FINANCIAL POSITION OF THE CENTRE
The Trustees have agreed to deploy the Irusl's remalning resources on further agreed joint programmes, as well
as on activities rallfied by the Trustees and conducted exclusively by MCSC {in the main, awards specifically for
Page 5

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2025
cert8ln categories of Commonwealth 8tuden18).
Flnanclal Roview
The total income for the ye8r ended 31 July 2025 was £86,971 {2023-24.' £310,633). The total expenditure for
the year ended 31 July 2025 was £187,2871202&24: £538,497).
The nel movement in funds was a net deficit of £100,31612023-24= nel deficlt of £230,985}.
The total assets less liabilities as 8131 July 2025 were £43.75912023-24.' £144,075).
GOING CONCERN
The Trust's charitable activities were reduced during 202￿25 to mainlaln reserves. The Director, Dr Anil Seal, is
continuing lo liaise with the Malaysian Government lo secure a renewed funding commitment Ilhe previous
funding commilment having concluded in 2023-2024 with the re￿Ipt of £1mnl-
AS noted earlior in this report, a grant of £85,821 was received from CMEDT. The donation from CMEDT had
been pos8lble due lo a donation from Cambridge Educallon and Development Trust ICEDTI, whose subsidiary
has sold the Intellectual property rights to Cats Slep lo Peoplecert. 11 is expected that further donations will be
recelved from CEDT in the comlng years.
Thereafter, the Trust's conlinuatton, and also the continuation of MCSC. remalns an open question Ltnder
constant review by its Executive Committee and officer8.
The trust ha8 lolal assets less liabililles of £43,759 as al 31 July 202512024: £144,075).
The Trustees monitor the avai18ble resources closely and consider which programmes may best benefrt from
current funds. Trustees do not commll beyond their available resources and curtail activities to suit the available
funds. In the absence of further funding from the Malaysian Govemmenl, the Trustees cannot al present
guarantee the eonlinualion of MCSC activities al levels similar lo prior years. The Tru8tee8 will continue lo give
grants with the available fund8 and look for further opportunities.
RESERVES POLICY
All the funds of the Centre are invested, and the income is fully deployed for the purposes of the Trust. Any
unspent income in any year WOLJld be held agalnsl expenditure in future years in the hope of avolding major
swings in the level of actlvllles of the Trust from year lo year. Th8 Trust does not have a specific policy for what
level of reserves il should hold. 11 is the current policy of the Trusle8S that the Trust should spend more than Its
ncome, thereby reduclng the level of its reserves.
RISK MANAGEMENT
The Trustees have examined the major strategic, business and operallonal risks which the Trust faces, and are
satisfied that the regular reports they recelve al meetings enable them lo assess these risks, and to pul in hand
on a timely basis any necessary actions (mainly changes In the numbar of awards offered from year to year and
expendilure on the principal schemes) to lessen or avoid them.
A risk register h89 been prepared and is kept under regular review. The principal risk relates lo the unexpected
loss of key staff. The rlsk has been miligaled through the clo88 connections which exist be￿08n the Trust and
senior members of the UniverS￿Y who support the work of the Trust. The other principal rl¥k relates lo the
POS8ible need for the Trust lo conlfibute additional resources lo joint projects with CMEDT If the anticipated
additional funding for CMEDT from Malaysia is not forthcoming.
There are currently no other malor risks requiring the attentSon of the TTUStees. Trustee Indemnlly insurance is In
place, IrMJelher with employer'g and Ihird-party liability insurance. Bulldings and contents insurance is in place
Page 6

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
TRUSTEES, REPORT (CONTINUED}
FOR THE YEAR ENDED 31 JULY 2025
for 11 M8dingl8y Road, In accordance with the tem)s of the leas8.
The Executive Committee ensures that the projected cost of all the Tru81's approved programmes can be mel
within the resources of the Trust.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Dr Gordon Johnson
Chalrman
Dale..
24dg
Page 7

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 JULY 2025
The Trustees are responsible for preparing the Trustees, Report and the fin8ndal slalements in accordance with
applicable law and United Kingdom Accounting Standards Iunlled Kingdom Generally Aocepled Accounting
Praclice)-
The law 8pplicable lo charllies In England & Wa￿S requires the Trustees lo prepare financial slalemenls for
each financial which givg a true and fair view of the slate of affairs of the Charity and of ils incoming resources
and application of resourcgs, includlng ils income and expendllure. for that period. In preparing these financial
slalemenls, the Trustees are required lo=
select suitable accounting policies and then apply them consislenlly.,
observe the method8 and principles of the Charities SORP {FRS 1021;
make judgements and accounting eslimales that are reasonable and prudent.,
state whether applicable UK Awunling Standard8 IFRS 1021 have been followed. sublecl lo any materlal
depariures disclosed and explained in the financial slalemenls.,
prepare the financial statements on the going Ggncern basis unless il 18 inappropriate to presume that the
Charity will continue in business.
The Trustees are responslblè for keeping adequate accounting records that are sufficient to show and explaln
the Charills transactions and dlsclose with reasonable accuracy al any time the financial position of the Charity
and enable them lo ensurg that the financial statements comply with the Charlties Act 2011. the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are a180 responsible for
safeguarding the assets of the Charity and hence for taklng reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on its behalf by:
f-
Dr Gordon Johnson
Chairman
Dale:
Iq
Page 8

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 JULY 2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MALAYSIAN
COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE {'thg Charlty.)
I report to the charity Tfuslees on my examination of the accounts of the Charbty for the year ended 31 July 2025.
RESPONSIBILITIES AND BASIS OF REPORT
As the fru818es of the Charity you are respon8lble for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 {'Ihe 2011 Act,).
I report in respect of my examination of the Charills accounts carried out under section 145 of the 2011 Act and
in caTryng out my examination I have followed the applicable DiTeclion8 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 accounls in accordance with Accounting and
Reporting by Charlties.. Slalemenl of Recommended Practice applicable lo charilles preparing their accounts in
accordance with the Financial Reporting Standard applitt￿ble in the UK and Republic of Ireland IFRS 1021 in
preference to the Accounting and Reportlng by Chari119s-. Slalement of Recommended Practice issued on 1 April
2005 which 18 referred lo in the exlanl r8gulalions bul has been withdrawn.
l understand Ihal this has been done in order for the accounts lo provide a true and fair vlew in accordance wlth
the Geneially A¢￿pIe￿ Accounting Practice effeclive for reporting periods beginning on or after 1 January 2019.
I have completed my examination. I confirm that no mallers have come lo my attention in connecllon with the
examination giving me cause lo believe that in any material respect..
accounting iecords were not kept in respect of the Ch8rity as requlred by section 130 of the 2011 Act-, or
the accounts do not accord with those records.. or
the accounts do not comply with tho applicable iequiremgnts concerning the form and conlenl of
accounts set oul in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'lrue and fair, view which is not a matter 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
attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached.
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Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
Thls report is made solely lo the CharSlls Truste8s. as a body, in accordan￿ with Part 4 of the Charities
{AccoiJnts and Reports} Regulations 2008. My work has been undertaken so that I might slate lo the Charills
Trustees those matters l am required to stste lo them in an Independent Examiner's Report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responslbllity to anyone other than the
Charity and the Charity's Trustees as a body, for my wo¥k or for this report.
Signed". NtsL'
Nlkki Loan
Dated.. 06 May 2026
FCA
PETER8 ELWORTHY & MOORE
Chartered Accounlanls
Salisbury House
Station Road
Cambridge
C8121A
Page10

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAM8RIDGE
STATEMENT OF FINANCIAL ACTivrriES
FOR THE YEAR ENDED 31 JULY 2025
Unrgstricted
funds
2025
Total
funds
2025
Total
funds
2024
Nots
INCOME FROM:
Donations
Investments
85.821
1,150
85,821
1,150
300,000
10,633
TOTAL INCOME
86.971
86,971
310.633
EXPENDITURE ON:
Charitable activities
187,287
187,287
538,497
TOTAL EXPENDITURE
187,287
187.287
538,497
NET EXPENDITURE BEFORE NET LOSSES ON
INVESTMENTS
Net losses on investments
{100.3161
{100,316)
{227.884}
(3,121}
NET MOVEMENT IN FUNDS
{100.3161
{100.316)
{230.9851
RECONCILIATION OF FUNDS:
Total funds brought forward
Not movement in funds
144,075
1100,3161
144,075
{100,316)
375,080
{230,9851
TOTAL FUNDS CARRIED FORWARD
43,759
43,759
144,075
The Statement of Financial Activities includes all gaSn8 ancl losses recognised in the year.
The notes on pages 13 to 21 form part of these financial stslemènts.
Page11

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
TPIE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
BALANCE SHEET
AS AT 31 JULY 2025
2025
2024
Notg
CURRENT ASSETS
Debtors
Cash al bank and in hand
11.384
49,548
6,193
170,461
60,932
176,654
Creditors: amounts falllng due ￿thIn one
12
{17,173)
132,579}
NET CURRENT Assgrs
43,759
144,075
TOTAL NET ASSETS
43.759
144,075
CHARITY FUNDS
Unrestricted funds
43,759
144,075
TOTAL FUNDS
43.759
144,075
The flnanclal statements were 8PPToved and aulhorised for issue by the Trustees and signed on thelr behalf by..
Dr Gordon Johnyon
Chalrman
Dale..
2p l
The notes on paggs 13 10 21 form part of these financial Statements.
Page 12

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
GENERAL INFORMATION
The Malaysian Commonwealth Studies Centre in Cambridge is a Ch8rftabla Trust registered with the
Charity Commission of England and Wales. The financSal slalemgnts aro prepared under the hlslorical
cost convention as modlfied by the valuation of investments al fair value.
ACCOUNTING POLICIES
2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial slalemenls have been prepared in accordan￿ with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities
preparing their accounts in accordance wilh the Financial Reporting Standard appllcable in the UK
and Republic of IFRS 102) leffeclive 1 January 2019}, the Financial Reporting Standard applicable
in the UK and Republic of Irgland {FRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'lrue and fair view and have departed from
the Charllles (Accounts and Reports) Regulatlons 2008 only lo the extent required lo provide 8 'lrue
and fairf view. This departure has involved following the Charities SORP IFRS 1021 published In
October 2019 rather than the Accounting and Reporting by Charities.. Slalement of Recommended
Practice effective from 1 April 2005 whlch has since been withdrawn.
The Malaysian Commonwealth Studies Centre In Cambridge meets the deflnllion of a public benefit
entity under FRS 102. Assets and liabilities are initially recognised at historical cost or Iransadton
value unl8ss otherwise stated in the relevant accounting policy.
No material accounting estimates orjudgemenls are used in the preparation of the accounts.
2.2 GOING CONCERN
The Trust's charitable acllvltles were reduced during 2024-25 to maintain reserves. The Director, Dr
Anll Seal, is continuing lo liaise with the Malaysian Government lo secure a renewed funding
ommilment {the previous funding cornmitmenl having concluded in 2023-2024 with the receipt of
£1mnl.
As noted earlier in this report, 8 gr8nl of £85,821 was re￿iVed from CMEDT. The donation from
CMEDT had been possible due lo a donalitsn from Cambridge Education and Development Trust
{CEDT}, whose subsidlary has sold the intellectual property rlghls lo Cats Step lo People￿rL 11 is
expected that further donations will be received from CEDT in the coming years.
Thereafter, the Trust's conlinualion, and also the conlinualion of MCSC, rem8lns an opon question
under ¢onslanl review by ils Executive Commlllee and officers.
The trust ha8 tot81 assets less liabilit￿8 of £43,759 as at 31 July 2025 {2024: £144,075}.
The Trustees moniloi Ihe available Tesources closely and consider which programmes may best
benefit from current funds. Trustees do not commit beyond their available resources and curtail
activities lo suit the available funds. In the absence of further funding from the Malay8lan
Government, the Trustees cannot al present guarantee the conlinualion of MCSC activities at levels
slmilar to prior years. The Trustees will continue to give grants wllh the available funds and look for
further OPPOrtunilies.
Page 13

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
ACCOUNTING POLICIES ICONTINUED)
2.3 INCOME
All inGome is recognised once the Charity has enlillement lo the income, il is probable that the
incomg will bg rgceived and the amount of income receivable can be measured reliably.
Investment income is accounted for when re￿ivable.
2.4 EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit
to a third party, il is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each actlvily are made up of the lolal of dlrecl costs and shared costs, includlng support costs
involved in undertaking each aclivily. Dlrecl costs allributabla lo a slngle activity are allocated directly
to th81 actlvlty. Shared cos15 which contribute to more than one aclivily and support costs which are
not atttibulable to a 8ingl& activity are apportioned between those activities on a basis consistent with
the use of resources.
Expendllure on charitable activities is incurred on directly undertaking the actlvilies which furthtsr the
Charills obleclives. 88 well as any associated support cost8.
Grants 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 aliaching are
fulfilled. Grants offered subject lo conditions which have not been mel al the year end are noted as a
commitment, bul not accTued as expenditure.
The maln projects of the charity are affordable educallon, food security and sustainable development,
rnlligalion of climate change. and electoral demorJacy in the Commonwealth.
Governan￿ costs comprise all costs involving the public accounlabllily of the charity and 118
compliance with regulation and good practi￿. Thèse c(Y6ts Include costs ielated to the Ind8pendent
Examination and legal fees.
Support costs are costs for the administration of charftable activities. They comprise rent, rates.
ulililies, office property costs. telephone, salaries, legal, travel, and governance costs for the charity.
Support costs are allocated lo charitable activities in proportion lo the direct Costs of those activities
as this basis is deemed lo be consislenl with ￿sOUrce use.
2.5 DEBTORS
Trade and other debtors are recognised al the settlement amount after any trade dis¢ount offered.
Prepayments are valued at the amount prepaid nel of any trade discounts due.
2.6 CASH AT BANK AND IN HAND
Cash al bank and In hand includes cash and short-term hSghly liquid investments wlth a short maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
Paga 14

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
ACCOUNTING POLICIES (CONTINUED)
2.7 LIABILITIES AND PROVISIONS
Liabillites are recognised when there is an obligatitsn at the Balan￿ Sheet d81e ag a re8uII of a past
event, il is probable that 8 transfer of economic benefit will be required in selllement, and the arnount
of the selllement eAn be e811maled reliably.
Liabilltles are recognlsed al the amount that the Charity anlicipales il will pay to sellle the debt or the
amount it has received as advanced payments for the goods or service8 It musl provide.
2.8 PENSIONS
Eligible staff are member8 of thè UnlversiEy of Cambridge's Conlribulory Pension Scheme ICPS) to
whlch the Trust conlribules. As the TTUSI is unable lo identify ils share of the underlying assets and
liabilities of the CPS on a reasonable and consistent basis, il accounts as if the CPS were a defined
contribution scheme. so that the cost is equal to the lolal of contrlbullons payable in the year.
2.9 FUND ACCOUNTING
General funds are unreslrlcted funds whlch are available for use al the discretion of the Trustees in
furtherance of the general objectives of the Chaiily and which have not been designated for other
purposes.
Page 15

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
INCOME FROM DONATIONS
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Donations
85,821
85,821
300,000
TOTAL 2024
300,000
300,000
The donation in the current and prior year was re￿iVed from the Cambridge Malayslan EduGalion and
Development Trust and is unrestricted.
INVESTMENT INCOME
Unrestrlcted
funds
2025
Total
funds
2025
Total
funds
2024
Dlvldends and InleT8sI
1,150
1,150
10,633
Investment income In 2024 was unrestricted.
ANALYSIS OF EXPENDITURE BY ACTIVITIES
Actlvltles
undertaken
dlrectly
2025
Grant
fundlng of
actlvltlgs
2025
Support
¢osts
2025
Total
funds
2025
Total
funds
2024
Promotion and Education
Electoral Democracy
Engllsh Language
Climate Change
33,834
28.602
21,208
6,000
25,273
18,147
13,456
15,825
65,107
46,749
34,664
40.767
107.170
fj4,991
291,718
74,618
24,942
TOTAL 2025
83,644
30.942
72,701
187,287
538,497
TOTAL 2024
91.391
284,178
162.928
538,497
Page 16

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY2025
ANALYSIS OF EXPENDITURE BY ACTIVITIES (Co￿riNUED)
ANALYSIS OF SUPPORT COSTS
Totsl
funds
2025
Total
funds
2024
Staff costs
Rent. ratès. and ulllllies
Property costs
Telephone, postage, and couriers
Office expenses
Travel
Bank charges
Admlnislralive expenses
Apprenticeship levy
Governance costs {inclLFding staff costs)
15,502
8,672
13,520
990
8,297
1.588
248
6,808
81,333
9,594
17,366
2,301
7,121
7.537
123
19,617
90
17.846
19.076
72,701
162,928
ANALYSIS OF GRANTS
Grants to
Grants to
Institutlons Indlvlduals
2025
2025
Total
funds
2025
Total
funds
2024
Promolion and Educallon
English Language
Cllmate Change
4.000
2,000
6,000
37,500
194,396
52,282
24,942
24.942
TOTAL 2025
28,942
2.000
30,942
284,178
TOTAL 2024
246,678
37,500
284,178
Grants to indlviduals are paid lo the Unlversity of C8mbridge College at which they are stud￿ng.
The Charity has made the followlng material grants to institutions during the year..
Page 17

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
ANALYSIS OF GRANTS {CONTINUED)
2025
2024
NAME OF INSTITUTION
Gonville & Caius College. Cambridge
CATS Step Limited
South Eagl Asia Rainforest Research Partnership
Swansea UniveTSlty {support for Danum Valley)
4,000
194,398
20.000
32,282
24,942
28.942
246.678
INDEPENDENT EXAMINER'S REMUNERATION
2025
2024
Fees payable lo the Charitys independent examiner for the independent
examinatlon of the Charity's annual accounts
7,188
6.840
STAFF COSTS
2025
2024
Wages and salaries
Social secuiity costs
Contribution lo defined Gonlribution pension schemes
ApprentlCe8hip levy
23,999
2,499
80,491
7,732
4,116
90
26,498
92,429
Pag8 18

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
ThE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
STAFF COSTS ICONTINUEDI
The average number of persons employed by the Charity during the year was as follows-.
2025
2024
No.
Employees
The key management personnel are the Trustees, the Director and the former Treasurer, as set out on
page 3 of this report. The Director and the foimer Treasurer are the only members who re￿1ve
employmènt remuneration from the Trust. Remuneration is approved by the Executive Committee after
considering the recommendations of the Remuneration Committee. In setting the levels of remuneration.
the Remuneration Committee has regard lo compBrable pay levels In the University of CambrFdge.
The total pald to Key Management Personnel by MCSC and CMEDf was £52,996 12024. £84,087),
Including social security costs and pension costs. These costs were apportioned between CMEDT and
MCSC. therefore the nel Gharge to MCSC was £26,498 (2024.. £43.1271.
The number of employees whose employee benefits paid by both MCSC and CMEDT lexcludlng
employer pension costs) exceeded £60,000 in lotsl was..
2025
2024
In the band £80,001 - £90,000
Page 19

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY2025
TRUSTEES. REMUNERATION AND EXPENSES
During the year, no Trustees re￿iVed any remuneration or other benefits {2024 - £NILI.
Durtng the year ended 31 July 2025, no Trustee expenses have been Incurred12024- £NIL)-
10. TAXATION
Malaysian Commonwealth SludEs Centre Is a registered charfty and is exempl from tsx on income and
capital gains falling w￿h1n Chapter 3 01 Part 11 lo the Corporation Tax Act 2010 or Section 256 of the
Taxation of Capital Gains Act 1992 to the exlenl that they are applied lo ils chaiitable objectives. No lax
charges have arisen in the Charitable Trust.
11. DEBTORS
2025
2024
DUE WITHIN ONE YEAR
other debtors
Prepayments
3,792
7,592
6,193
11.3B4
6,193
Page 20

Docusign EnvelopÈ ID". 22CF0062-782G8515-8394-8DC07B243477
THE MALAYSIAN COMMONWEALTH STUDIES CENTRE IN CAMBRIDGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31 JULY 2025
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Trade creditors
Due lo Cambridge Malaysian Educatton and Development Trust
Accruals
2,033
8,759
8,109
15.711
15.140
17.173
32,579
13. PENSION COMMITMENTS
The charlty operates a defined conlribullon penslon scheme. The assets of the Scheme are helll
separately from Ih08e of the charity in an independently administered fund. The pension cost charge
represents contributions payable by the charity to the fund and amounted to £nil 12024: £4,1161- No
balan(8 was payable lo the fund al the balance sheet dale {2024.. £nill.
14. RELATED PARTY TRANSACTIONS
Some trustees have close ties with the University of Cambridge and ils Colleges, and some of the officers
and Irustegs are also officers or Iruslees of the MCSC with whlch the work of the ITUSI Is closely
associated, as set out in the Trustees, report on page 3. These related Interests are included In the
register of declared interests of officers and trustees which is updated al least once a year.
Durlng the year. the trust recelved £260,000 12024.. £300.000 grant) from CMEDT, £174.179 of which
was to settl& an inler-lrust creditor balance and £85,821 was a grant. The lotsl value of shared c08ts
belween MCSC and CMEOT during the year was £359.785 {2024.' £980,218). No 8mounl was due to or
from MCSC and CMEDT at the year end12024.' £8,109 balance due to CMEDT).
During the year, MCSC advanced £53,504 12024.. £42.0001 towards the èxpenses incurrgd by the
Director on travels lo Indla. 500A of these costs being subsequently claimed from CMEDT.
During the year. no funding was given lo Cambrldge Education and Development Trust for the CAT8
Slep project {2024.. £360,000 given of which £180,000 wa8 recharged}. A grant of £49,883 was given to
SEARRP, of which Henry Barlow is 8 trustee {£24,942 of this was recharged to CMEDTI12024.' £104,564
given and £52.282 recharged to CMEDTI. Where a Iruslee is also a dlreclor or Iruslee of a grantee, the
trustee does not lake part in the funding decision.
Page 21