Charlty Reglstratlon No. 1191067 ACADEMIC STUDY GROUP ON ISRAEL AND THE MIDDLE EAST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 28 MAY 2020 TO 31 OCTOBER 2021
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST LEGAL AND ADMINISTRATIVE INFORMATION Tru6tg9 Sir W Bodmer (Chairman) Dr A Petrie Ms M Fisher Charity number 1191067 Prlnclpal addr•ss PO Box 42763 London N2 OYJ Indtrpendgnt gxomlnor Arram Bedyn Gardner IAHI Limited 30 City Road London EC1Y 2AB
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST CONTENTS Page Trustees, report Statément of tnjstèes, rèsponsibilitiès Indgpendenl examinels report Stslemenl of financlal activities Stalefflent of financ4al posibon Notes to the financial statemenis 7.10
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST TRUSTEES. REPORT FOR THE PERIOD ENDED 31 OCTOBER 2021 The trustees present their annual report and financial statements for the peri&1 ended 31 October 2021. The financial statements have been prepared in accordance with the accounting policies set out in notes 1 to the financial statements and comply wth the d)ariWs goveming 0Ment, thè Charities Act 2011 and -Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 las amended for accounting peri(KJs commenang Ir(Mn 1 January 20161. Objectives and activities The object of the foundation is to advanee research (x)Ilaboration between scholÈrs in Bfit8in and Israel by organising academic workshops and conferences in Israel and to educate the lay and academic public on innovations and new discoveries devised by Israeli researchers in the broad context of developments in Israel and th8 Arab Middle East.. Achlevements and perforniance Academic Study Group was firsl registered as a Charity in the late 1970.8. It's Mandate and Oeeds neediThJ to be radically updaled, a new Trust Deed was approved by the Trustees on 28 May 2020 and the ASG submilltrd rtrvised documents lo the Chanty Commission. The ¢harily was Issued with a wholly new charity commission registration nulnber 1191067 on 28 August 2020 all assets held previously by the original ASG charity were gifted to the newly registered Charity al the date the new Charity was registered at the Charity Commission. This $81 of accounts therefo re¢ofd$ A¢ademi¢ Study Gfoup I'ASG'S") activities from 28 May 2020 10 31 Oclober 2021- a truly problematic period given Ihe global pandemic. COVID made the organis81ion of in-person. UK-Israel academic research meets'ngs lotslty Impossible. Thus, no Re8earch Workshops were organised in the peric*J under Teview. Plgnly of new programmes were ¢Jis¢tJsse(l and plans lai¢J for future mgeb'ngs bul malor fund-r8lslng for ngw operations was deemed inappropriate and was 8¢aled back. By thg same token gdu¢ational programming in the UK wtth ASG $taffers rtjnning educatlonal seminars lor academics, 6th formers. Churchmen and for swial and public affair5 groups was also hit punitively. 'Ifirtual" tslk5 in large measure replaced briefings in person though some lace.tO•lace work around the UK still proved possible. Prospects for the 2022 period remain difficult Ihough once the virus is contained and travel, domestic and intèmalional, aas8s thè Trust wll gear up Ihe scale ol opèrations significantly. The new, preferred accounting period forASG wll be to 31 October each year. Grant.Maklng Pollcy In pursuit of its princip81 go81 of enlarging rese8r¢h ¢9p8T9t1on ttWeen top Centrgs of Innovation in 8ri18in and Israel, ASG awards personal granis to Brilish academics developing new collaborative projects., and sponsors workshops in Israel which focus on cutti'ngodge themes in the scien and the Arts. Financial review During the period charitable expenditure amounted to £19.676 atMI administrative expenses amounted to £13,100. Reserves Policy The Trustees, policy is to generate fvnds to maintain a reserve suffiuenl to meet the costs of its charitable objectives for six months.
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST TRUSTEES. REPORT ICONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2021 Rlsk FKtorn The Trustees hav• asses¥ed ts mapr risks to thich Ihe CfArty 1$ •xpos•d and ar¢ tisfied that systems are In plarR to mitigate eyjsure to the maBy risks. Hmvw. the Twstees a mindlul ofthe lack of CUrreY available funds are tskn9 $trps to rectify th. Nofvthstanding the rr¢nI eGonornic dimate ihey hope to be suec•ssful in rsing funds. Slructur•. gov•m•n¢• •nd rnMg•m•nl ASG wis first re9lst•r•d as a Ch8nty in Ihe late 19705 Its Mandate and Dee(Is needing to be radillY updaed and hence a rW thanty wa$ es1atl1s by a TfU8t Deed dated 28 May 2020 and regiered lh Charity Corn.$$10n under Charity numbw 1191067 Dn 28 Augu¥l 2020. The truste•$ #•rved the Per and to d•t¢ of Signalure of the finanraal statern•nts w•rtr". Slr W B¢drneT Ichainnanj DrA P•trie Ms M Flsh•r Recrulkn•nt and tsalnlng af Tnt The Charity ffointains a small core numbw ol Trnst•. Vth•n retrurting Tw8tse$, they are eznJld¥r¢d tsd on g¢pdemic standlng, general pfcèty, ftd sense and ¥IroU1)d 9oothM"H. Trust5 are regLlarty updated f•l•¥art IteratUre and Chartty Comrnls8h)n updat••. ¢knnls•tlon Structur• Th Tr1,5 day-ttrday actNft are administwed ty rts acadenwc Board of TDJst•ès vtho in oddrtion are re$pon8ible lor th• eonsiderabon and aulhorisation of the ttantaLle •XFenditure in¢urred. Mr J D A Leyy 18 th• CfrarSty'$ main admnistraior aTrJ that posrtty)n is not remunwated. He has indicateé his vnllingness to remain in office for the ensuing year. No fruslÉ had any trenefiu intsre$t n any ntract wlh the Charty. Chanty does nct ha 8ny &mpWe•B. OD behaf of th t)ord of tru8t• M$ Fisher
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE PERIOD ENDED 31 OCTOBER 2021 The trustees are responsible for preparing the Trustees. Ret&¥t and the financial statements in accordance with applicable law and United Kingdom Accountsng Standards {United KiThJdom Generally ACpted Accounts'ng Pra¢ti¢el- The law applicable to charities in England and Wales requires Ihe truslees to prepare financial siatements for each financial year which give a true and fair view of the state of affairs ol the charity and of the incoming resources and 8pplicab.on of resources ol the tharity for thal period. In preparing these financial statements, the Injstees are required trJ-. - select suitable accounting policies and then aY them cLJnsistenUy'. - observe the method5 and prinaples in the Charities SORP- - makè judgements and èstimates that are reasonable and prndenl". state whether applicable accounting standards have been followed. subject to any material departures disdosfjd and èxplained in the financial slalom*nts- and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with Teasonable accuracy at any time th& financial position of the charity and &nabl& them to &nsur& that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Rewrtsl Regulations 2008 and the provisions ol the trust deed. They are also responsible for saleguarding the assets ol Ihe charity and hence for taking reasonable steps lor th8 prev•ntion and d8t8Ction of fraud and other irr8gulariW.
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST I reptsrt on the financial statements of the charty the pericxl ended 31 October 2021, which are set out on pages 5 10 10. Respectlve responsSbS1Stles of trustees and examlner The charity s trustees are reswnsible for the preparation of the financial statements. The charrtys truste85 consider that an audit is not required for this period under sectw)n 144121 of the Charities Act 2011 Ithe 2011 A¢tl and that an indèpènd8nt èxamination is nÈède(l. 11 is our responsibility lo.. examine the financial statements under section 145 of the 2011 Act.. lill to follow the procedures laid down in the general Directwjns given by the Charity Commission under sedion 14515llbl ol the 2011 A¢t', and liiil to state whether particular matters hav& come to my att9ntion. Basls of Indopondent •xamln•rfs report My trxamin8tion was carried out in a¢¢ordance with the general directi$ given by the Charity Commission. An exarninalion includes a review of Ihe accoun¢iThJ records kept by the charity and a comparison of the financial statements prèsèntèd with thos9 records. It also includgs ¢onsideralion of any unusual ilems or disclosures in the financial slalemenls, and seeking eyplanalions from you as trustees conctrming any such matters. The procedures undertaken do not provide all the evidence ihal would be required in an audit and consequently no opinion is given as lo whether the financial statem&nts present a 'true and lair view, and the report Is limit8d lo those mallers sel out Irh the xI st3Men1. Independent examlnerf8 8tat•m•nt In connection with my ex8minaty'on, no matter has come lo my attenlK)n'. lal which gives m8 r8asonable cause to bèlièvè that in any matarial raspect the roquirgmgnts.. to keep accounting records in accordance wilh section 130 of the 2011 Act,. and lill to prepare financial slatements which accord with ihe accounting records and comply with the accounting requir8m8nts ol the 2011 Act". have not been met or Ibl to which, in my opinion, attentK)n should be drawn in order lo enable 8 proper underslanding of the financial statements lo be reached. Sarah Wilson Arram Berlyn Gardner IAHI Limited 30 City Road London EC1Y 2AB 311512022 Dated..
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 OCTOBER 2021 Unrgstri¢ted funds 2021 Notes Donations and legaaes 65,474 Charitable ath'vities 32.776 N8t incomellexpenditur•l for the p•rSodl Not movement in funds 32.698 Fund balances al 28 May 2020 Fund balancos at 31 Octob8r 2021 32,698 The slalemenl of finanual activities includes all gains and losses recognised in th8 period. All Income and expenditure derive from eontinuing activilie$.
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST STATEMENT FINANCIAL POSITION AS AT 31 OCTOBER 2021 2021 Current Debto Ca¥h at bankand in hand 6,876 32,087 38.963 16,2651 Cr•dltorn: amount• falllng th• wlthln on• y•ar Net current ¥$8ets 32.698 Income fund& Unre¥lnthd funds 32,698 32,698 30.05.2022 r• approved ky t Truste88 On....... .. . Th accoun Ms M Ashèr
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2021 Accounting policies Charity information A¢adomi¢ Study Grotjp on Israel and The Middltr East is a unincorporated ¢h8rity registed in England and Wales. The registered office is PO Box 42763 London N2 OYJ. 1.1 Aeeountlng convèntlon The accounts have been prepared in accordance with the charitys deed, the Charities Act 2011 and "Accounting and Reporting by Chants"es." Statement of Recommended Practice applicable to chanties preparing their accounts in accordance with the Financial Rewrb'ng Standard applicable in the UK and Republic ol Ireland IFRS 1021" las amended for accounting periods commencing from 1 January 20161. The Charity is a Public Benefit Entity 8$ defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare 3 Statemenl ol Cash Flovds. The financial 51alemen15 are prepared in slerfing, which is the functional Currency ol the charity. Monetary amounts in these finanaal staiements are rounded to the nearest £. The accounts have been prapared uThJ9r Iho histori1 $1 convention. The principal accounb'ng policiès adopteil are sel out below. 1.2 Golng conc•rn Al the lime of 8pproving the financial statèments, the trustees have a reasonable expectation that th& charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustèès continue lo adopt the going coneem basis of accounting in preparing the financial slalements. 1.3 Chadtable funds Unrestricted funds are available lor use 81 the diseretion of the tnjslees in fvrther8n¢e of Ihtrir ch8ri1abl8 objectives. Unrestricted funds represent those monies which 8re freely 8V8ilable for application low8rd$ 8chieving any charitable purpose that falls within the Chariiys objeclives. 1.4 In¢ownlng re¥ouTce¥ Income is re¢ognise<l when the Charity Is legalty entitled to it after any perfomance conditions have bgon mel. the amounts can be measured reliably. and il is probable Ihat income will be received. Cash donats.ons are rècognised on receipt. Other donations a re(x)gnised once the charity has b68n notified of the donation. unless performance conditions require deferral of Ihe amount. Income tsx recoverable in relation to donations received under GIftA or deeds of covenant is recognised at the time of the donation. 1.5 R•sources expet7ded Expenditure is recognised once there is a legal or conslructive oblNJation to transfer economic benefit to a third party. it is probable that a transfer ol economic benefiis wll be required in settlement, and the amount of the obligatson can be measured reli8bly. Expenditure is dassrfied by activity. The costs of each activity are made up of the total of direct costs and sharèd costs, including support costs involved in undèrtaking èach activity. Dirèct costs attnbutablè to a single activity are allocated directly to that 8Ctiwty. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs S allocated on the basis of time spent, and depwiabon charges are allwated on the porb.on of the asset's use_
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2021 Accounting policies (Continued) Resources expende(l are recogni5e¢J in the perKxJ in which they 8re incurreil arKI accounted for on a accruals basis. Grants payable are induded wherh approveil and when the intended recipient has either received the funds or been infornied of deasion to make the granl and has satisfied all conditions. Grants approved but not paid at year end are accrued for. Grants where Ihe benefiuary has not been informed or has not met certain conditions before the gr8nt is released are nol ¢re but nole(185 a financi81 comrnilmenl 81 year end. Govemance costs are those incurred in connection wilh the administration ol the charity and compliance with constitutional and statutory requirements. 1.6 C•$h •nd ¢•$h ¥qulv•l¥nts Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-temi liquid investments with original maluribtrs of thw nk)nths or I, and bank ovtrrdrafts. 8ank ovtrrdrafts ar& shown within borrowings in current liabilities. 1.7 Flnanelal Sn8trumènts The charity has elected to apply the provisions of Section 11 'Basic Financial Instrurn8nls' and Section 12 'Oth¥r Financial In$twments l$$u&s' of FRS 102 to all of its finan¢ial instrumonts. Financial instruments are recognised in ihe chariiys balancE sheet when the charity becomes party to the contractual provisions of the inslrument. Financial a55ets and liabl1'eS are offset. with the net amounts presented in the financAal ststemenls, when there is alegally enforceable right to set off the recognised amounts and there is an intention to settle on a nel basis or lo re81ise tt)e asset a1 settle the liability simullaneously. Baslc flnanclal assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and a subseouenuy Carried al amortised wsl using the effective interest method unless the arrangemenl constilutes a financing Iransaction. where the transaction is measured at the present value of the future receipts discounted at a market rate ol intèrèst. Financial 8s$els d8ssifi8d as receivable wthin one ye8r are not amortised. Baslc financlal Ilabllltles Basic financial liabilities, including uedilors are initially recognised at transaction price unless the arrangtrmgnt ¢onstituttrs a finan¢ing transadion, whertr the debt in5twmont 1$ Measur at the present value ol the luture payments discounled al a market rate of interesl. Financial liabilities classified as payable within one year are no( amorlised. Derecognition of financial Ilabiilities Financial liabilities are derecognised when the charity's contractual obligats'ons expire or are discharged or 8nTr119d. 1.8 Accumulated funds Unrestrided funds represent Ihose m¢)nies whi¢h a fwly available for application towards achieving th& charitable purpose that falls within the Charitys objeclives.
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2021 Accounting policies (Continued) 1.9 Reporting period The accounts are in respect of a long period from the date of registration on 28 August 2020 to 31 December 2021. The reason for using a longer p8nod is to ensure that the company's reporting ¢J818 15 consistent with the preferred year*nd. Donatlons and lègaclès Unrestricted funds 2021 Donations and grfts Other gift 37,581 27,893 65,474 othgr glft On 28 May 2020 the assets of thg previous ASG tharity. Charity Commission reglstralion number 801772 were gifted and transfèrred lo the regIStered ASG ¢h8rity. Charity Commission regislr8tion Number 1191067. 3 Charltsblo o¢tlvltle$ Charltabl• Exp8ndltur8 2021 2,095 Subscriptions Consultancy and lecturing costs Telephone Prinling, postage & stationary Computer Running Costs Sundry expenses 13,784 1,799 439 432 19,676 Share of govemance costs (see rte 41 13.100 32,776 The costs are represented by travel and workshop SIS as well as nsultancY and lecturing costs, in the conduct of UK leciure tours. Due to COVID travel resirictions in 2021 no costs wère expensèd on lecture tours in Israel.
ACADEMIC STUDY GROUP ON ISRAELAND THE MIDDLE EAST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2021 Support costs Support Governance costs costs 2021 Accountancy fees Legal fèès 3,000 10,100 3,000 10,100 13,100 13,100 Tru$tg08 None of the trustees lor any persons ojnnectsd with them) re&8ived any remuneration during the period. Employees There were no employees during the period. D•btorn 2021 Amounts lalllng due wlthln one aT. Othor debtors 6,876 Credltors: amounts falllng due wlthln ono year 2021 Accruals and deferred income 6,265 Related party tran$•clion$ There were no disdosable relaled party tranSaCnS during the period. 10-