The AUC Foundation
Annual report and unaudited financial
statements
For the year ended 31 December 2022
Charity Reeistr3tion Number 1192888

The ALIC Foundatlon
Contents
Page
Reference and adrninistrative details
Trustees. report
Independent examinels report
Statement of financial activities
Statem&nt of financial position
Principal accounting policies
Notes to the accounts
io-ii

The AUC FO￿ndatIOn
Reference and adminlstrative Information
For the year ended 31 DecembEf 2022
Trustees
MSG￿hr
H Rachld
P H¥rtnon
S Shentsuda
Dr A É Sharkawy PhD
Chal
MSGabr
Ch?rlty re8lstÈrÈd number
1192888
ReBlStered ofll<e
Bates Wells 8raithwalte
Thame5 Exchanse
10 Queen sirÈet Place
Londo
EC4ft IBE
IndeFiendent ex8Thifrner
8u2Za¢Ott LLP
130 wrjod StreÈt
LotTrdo
EC2V 6DL
Bankers
National B3nk of E8yPt Hous@
8-9 Stratton Street
WIJ 8LF

The ALIC Foundation
Trustees. report
For the ye8r ended 31 December 2022
The Trustees present their annual report along with the financial statements of The AUC Foundation
I'charity") for thÈ year ended 31 December 2022.
The financial st8tement5 have been prepared In accordance with the accounting policies set out on page 6 and
comply with Th& Charity'5 govÈrning clocument, the Charitie5 Act 2011 and 'Accounting and Reporting by
Charities-. Statement ol Recommended Practice applitable to charitie5 preparing their accounts in accord3nce
wirh 'the Financial Repofting Standard applicablÈ in the United Kingdom aTrd Republic of Ireland, I'FRS, 1021.
effective from accounting periods cotnmencing l January 2015 or later
STRUCTURE. GOVERNANCE AND MANAGEMENT
Structure
The AUC Foundation I'the Charity'l is a charitable incorporated organisation ICIOI, not having share capital and
Wa5 Incorporated on 21 December 2020. It operate5 in 3ccord3nce with a Governing Document adopted on 21
Dec@mber 2020, If the Charity 15 wound Upi the member5 have no liability 10 Contribute to It5 assets and no
personal r￿ponsIbIlItY for settling its debts and liabiliries.
OrgarEisatlon and management
The Trustee5 make the key decision5 about the conduct of the charity. The Trustees give theirtime voluntarily
and do not receive any remuneration lor their servic&s to the charitv.
The Trustees are considered the key management personnel of the Charitv.
Recrultment and appointment of Trustees
The Trustees have complete control of the Charity in re13tion to the 8pplicBtion of fvnds. Trustees are appointed
in accordènce with the Charity's governing document. All decision-making of the Charity is made it? accordance
with the Charitvs Conflicts of Interest policy.
Trustees
The Trustees of the Charity durinE the year ended 31 DÈcember 2022 and up to rhe date of approval of this
report were..
MSGabr
H Rachid
P Hannon
S Shenouda
Dr A E Sharkawy Pho
OBJECTIVES AND ACTIVITIES
Polities and objectives
The principal objettive of the Charity is the advancement of education in the heritase and culture of the Arab
world.

The AUC Foundatlon
TKustees' report (Continued)
For the year end￿ 31 December 2022
Public benefit statemènt
The Trusiees of the Charity have given due regard to the Charity Commission'5 guidance on public benefit and
have taken reasonèble steps to ensure that this guidance has been tOn5idered In the attivities undertaken by
the Charity to deliver Its chafltable purposes.
The Charity delivers a benefit to the public through the pursuance of its principal objett, the advancement of
education and learning and in particular, the provision of facilities for education at suit8blÈ establishrnents and
the award of scholarship5, rnaintenance allowance, or grants for 5tudent5.
ACHIEVEMEKfs AND PERFORMANCE
The Charity received an amount of £30.￿0 for unregtricted use. The Charity also signed silt 88reetnent worth
475,fX)O which will be received over the period of five years in equal amount5 01 É95,000 from 2022 to 2026.
This fund will be used for The Chartty restricted purpose for granting scholarship.
The Charity held one meetin8 with board ol trustees during the year.
FINAfiICIAL REVIEW
Results for the year
The results for the year are shown in the statement of the lin8ncial activities on page 6. During the year, the
Charity received donations and other Incorn& totalling of £321,65112021.. £Nill. The cost of raising fund was £Nil
12021.- £Nill and amount spent on charitable activities totalled to £11,68812021.. £Nill which brought total
expenditure forthe year to £11,68812021.. £Nill. The re5ulr forthe year ended 31 December 2022 was a surplus
of £309,96312021.. £Nill.
The balance of the unrestrictÈd reserves as at 31 December 2022 was £18,32312021.. £Nill and r*tricted
reserves totallect £291,64012021.. £nill.
Rtserves poliry
The level of reserves 15 monitored 3niJ reviewed by the Trustees at least ènnually. The Trustee5 believe that the
Charity should target to hold unrestricted financial reserves equivalent to 8 minimurn of four rnonth's operating
costs.
As at 31 December 2022 the Charity's unrestricted reserv￿ was £18,32312021.. £Nill.

The ALIC Foijndation
Trustees. report (Continued)
For the year endÈd 31 December 2022
Trustees. responsibllltles statement
The TrustÈes are responsible for preparing the Trustees, Report and the fiTrancial staiements in 8ccord3nce
with 3pplicable law and United Kingdom Accountin6 Standards including Financial Reportin8 StBndard 102.. The
Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Gènerally Accepted
Accounting Practice).
The law applicable to charities in England and Wales requires the Trugtees to prepare financi31 statements for
etch fin3ncizl ye8r which give a Irue and fair view of the state of affairs of the Charity 3nd of the incoming
resource5 and application of resources of the Charity for the year.
In preparing these financial siatements. the trustees 3re required to..
select suitable accounting policies and then apply them consistently..
observe the methods and principles In 'Accountin8 and Reporting by Charities,. Statement of
recommended practice applicable to ch3rities preparin8 their accounis in èCCOfdance with Financièl
Reporring Standard 102,
make Judgment5 and accounting estimate5 that ar& reasonable and prudent,
5tat& whether applicable UK Accounting Standards have been followed, subject to èny materi8
departures disclosed and explained in the financial statements,. and
preparÈ the financi31 statements on the going concem basis unless it is inappropriate to presume that
the Charity will continue In operation,
The Trustees are responsible lor keeping proper accounting records that are sufficient to show and explèin the
Charity's tr3nsactions and disclose with reasonèble accuracy 3t any time the financial p051tion of the Chority
and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity
IAccounts and Reports) Regulation 2008 and the provisions of the governing document, They are also
responsible for taking such Steps as are reason3bly open to them to safeguard the Bssets of ihe Charity and to
prevent and detect fraud and other irregularities.
The Trustees are responsible for the m3intenÈnce 3nd inte8rity of the Charity and financial information
Included on the Charitv's website, Legislation in the United Kingdom 8overninE the preparation and
dissemination of accounts may differ from legislation In other jurisdictions.
This report was approved by the Trustees and signed on their behalf bv..
MSGabr
Trust
Date..

Buzzacott
The ALIC Foundatltsn
Independent examinerfs report to the Trustees of The AUC Foundation
I report to the Charity Trustèes on my examination of the accounts of Th@ AUC Foundation for the year ended
31 December 2022.
Responslbilities and basls of report
the Trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the
reouirements of the Chèrities Act 20011'the Aci'l
I res)ort in respect of my examination of the Charity's account5 carried out under settion 145 of the 2011 Act
and in carrying out my exorTrination I have followed all the applicable dir&rtions given by the Charity Commission
under section 145lSllbl of the Act.
Independent examifierfs staiernent
The Charity'5 gros5 income exceeded £250,000 8nd l arn qualified to undertake the examination by being a
Qualified member of institutÈ of the Chartered accountants in England 8ncf Wales IICAEWI.
I have completed my examination. I confirm that no material matters have come to my attention in connection
with the e¥amination giving me cause to believe that in any rnaterial respett..
the accounting record5 were not kept in respect of the Ch3rity as required by section 130 of the Act., or
the accounts do not accord with those records. or
the accounts do not comply with the èppliczble requiremènts concerninB the form and conteni of accounts
ser out in ihe Chariiy IAccounts and Reports) Regulations 2008 other than reouirement that the accounts
Eive a true and fair view, which is not a matter considered as part of an IndependÈnt examination.
I have no concerns and have come across no other matters in connection with the ex3mination to which
attention should be drawn in thi5 report in order 10 enable a proper understanding of the accounts to be
reached.
Claire Collins, ACCA
8uzzacott LLP
Ch3rtered Accountants
130 Wood Street
London
EC2V 6DL
Date 9 May 2024

The AUC Foundation
Statement of financial activities
For the year enrted 31 December 2022
Total funds
yeay
ended 31
December
2022
Totèl funds
period
ended 31
December
2021
Restrltted
tunds
2022
Unrestricted
funds
2022
Note
Income from-
Donètions
291,640
30.000
li
321.640
li
Other income
Total income
291,640
30,011
321,651
Expenditure on..
Charitable 3ctivities
Total expenditure
111.6881
111.6881
111.6881
111,6881
et income and net movements In
funds
291,640
18,323
309.963
Recondllatlon of lunds:
Total funds brought forward
Total funds carried forward
291,640
18,323
309.963
All activities relate to continuing operations.
All recogni5ed gains and10sses are included in the above staterrent of financial activities.
The notes on pages 10 to 11 fortn part of these financial 5tatementS.

The AUC Foundation- Regi5tratton number 1192888
Statement of financial position
As it 31 December 2022
Note
20Z2
2021
Cuirent a55ets
Cash at bank and in hand
30,011
30,011
Creditor5'. amounts falling due within one year
Net current asset5
111.6881
18,323
Debtors: amounts more than one year
291,640
Net assets
309,963
Charity Funds
Unrestricted funds
18,323
Restricted funds
li
291,640
309,963
Total hjnds
Th& financial Statements were approved by the Trustees and signed on their b&h81f by..
MSGabr
Trustee
Date..

The AUC Foundation
Notes to the financial statements
For the year ended 31 Decèmber 2022
General information
The AUC Foundation 1.the Charity") 15 a charitable incorporated organisation ICIOI, not havin8 share capit31
and is Incorporated in England Bnd Wales. The Ch3riry registration number 1$ 1192888. Its re81Stered office
and principal place of business is St. Peters House, 130 Wood Sireet, London. EC2V 6DL.
Accounting poli¢ie5
Basis of preparation
These accounts have been prepared for the year ended 31 Decemb&r 2022 with comparative
information presented for the period ended 31 Decembor 202L
The financial statements have been prepared under the historical cost convention with items
recogni5ed at cosi or transaction value unless otherwise stated in the relevant accounting policie5
below or in the notes to these accounts.
The financial statements have been prepared in accordance with "Accounting and Reporting by
Charites.. Statement of Recommended Practice applicable to charities preparins their financial
statements in accordance with the financial reporting standard applicable in the United Kin8dom
and Republic of Ireland IFRS 1021 Icharities SORP IFRS 1021" The financial reporting standard
applicable in the UK and Republic of Ireland I'FRS, 1021, and th& Charities Act 2011.
The Ch3rity constitute5 as public benefit entity as deflned by FRS 102.
The account5 are presented in sterlin8 and are rounded to the nearest pound.
Critical accounting estimates and areas of judgement
The preparation of lin3ncial statement5 in compliance with FRS 102 requires the use of certain critical
accounting estimates. It also requires mana8ernent to exercise juclgernent in applyine the cornpany's
£counting policies.
The following principal 8tcounting policies have been applled..
Assessment of going con¢ern
The Trustees have assessed whether the use of the going concern assumption is appropriate in
preparing these accounts. The Trustees havè made this assessment in respect to a perlod of at least
one year fitsm the date of approval of these accounts.
The Trustees of the Charity have concluded th8t there are no m8tÈrial uncertainties related to
events or conditions th8t rnay cast significant doubt on the 8bility ol the Charity to continue 3£ a
going concern. The Trust&Ès are of the opinion that the Charity will have sufficient resouices to
rneet its liabilities as they fall due.
Cash Ilow statement
The fin3ncial statements do not include a cash flow statement bÈcau5e the Charity, as a small
reporting entltyi is exempi from the requirement to procfuce such a statement under Accounting 3nd
Reporting by tharities Statement of Recommended Practice ICh8ritiÈs SORP IFRS 10211.

The AUC Foundatlon
Notes to the financial statements
For the year ended 31 December 2022
2. Accounting polities Icontinuedl
Income recognition
Income ig recognisa in the period in which the Charity is enritled to receipt, the arnouni can be
measured reliably and it is probable that income will be received. Where in¢orne relates to future
period5, rhis income will be deferred. Grants and donation5 received for the 8eneral purposes of the
tharitable company are included as unrestricted fund5', grants 8nd donations for 8ttivitie5 restrictèd bv
the wishes ol the donor ère taken to restricted funds.
Expendituie
abilities are recognised 8s expenditure as soon a5 there is a legal or constructive obligation
tommitting the Charity to make 8 p3yment to a third partyj It is probable thèt a transfer of economic
benefit will be required in settlement and the amount ol thè obligaiion can be measured reliably.
Expenditure is included in the accounts an accruals basis and included attribut8ble VAT, which
cannot be recovered.
Expenditure is 811o¢ated to the particular activity on a direct basis or by allocation b85ed on the level
of direct expenditure rel3ting io that acrivity.
Debtors
Debtors are recognised at their settlement amount, legs any provisions for non-recoverability.
Prepayment are valued 3t the amount prepaid. They have been discounted to the present value of the
future cash receipt where such discounting 15 material.
Cash at bank and in hand
Cash at bank and in hand represents such atcounts and insrruments that are available on demand or
have a maturity of less than three months from the date of acqulsltions.
Creditors and provisions
Creditors 8nd provisions are recogni5ed when there is an obligation at the balance sheet date as a result
of a p3St event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estirnated reliably. CrÈditor5 and provisions are recognised at the
amount the Charity anticipates It will pay to Settle the debt. They have been discounted to the present
value of the future cash payrnent wher& such discounting Is material.
2.10
Taxation
The AUC Foundation is 3 registered Charity and therefore is not liable to incomÈ tax or corporation tax
on income derived from its charitable activities, 35 it falls within the various exemptions availabl& to
iegistered charities,
2.11
Fund accountin8
Restricted funds are to be used for specific purpose5 as specified by the donor. Expenditure which
meet5 their crit&ri3 is charged to the fund.
Unrestricted seneral funds are available for use at the discretion of the Trustees in the furtherance of
the general objective5 01 the ChÈrity.

The AUC Foundation
Notes to the financial statements
For the year ended 31 December 2022
Donations and leEaties
Restricted
funds
2022
Unrestrirted
funds
2022
Totsl
funds
2022
Total
funds
2021
Donations
Unwindiftg of discount
related ro donation
Totsl
30.orA)
30,000
291,640
291,640
291,640
321,640
30.000
Other income
Restricted
funds
2022
Unrestrltted
fvnds
2022
Total
funds
2022
Total
funds
2021
Interest income
li
li
Total
li
li
Expenditure on charitable activities
Restrttted
funds
2022
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Governance costs
Accountancy fees
Independent ex3Mination
6,888
6,888
4,800
11,688
4,800
11,688
The Charity has not employed any sraff directlv.
Independent examiner's remuneration
2022
2021
Accountancy fee
Independent examination fee
6,888
4,800
11,688
Trustee5' remuneration
No Trustees received any emoluments for their services as Trustees durinz the year.
No Trustees were reimbursed for any expenses during the year.
io

The AUC Foundatton
Notes to the financial statements
For the year ended 31 December 2022
Debtors: amounts due after more than one year
2022
2021
Other debtors
291,640
291,640
During the year, the Charity received a grant commitment to rÈceive 3n 3mount ol $95,000 per annum
from 2022 to 2026 inclusive. An asset wa5 recoEnised, discounied to present V31ue using a discount rate
of 7% per annurn.
The notional interest is debited to the statement of financial activities as Ihe discount is"unwound~
CredTrtors: amounts due within one year
2022
2021
Accruals
11,688
11,688
io.
Allocation ol net assets between funds
The allocation of net assets between funds as at 31 December 2022 are represented by..
Restricted
funds
2022
Unrestrirted
funds
2022
Total
funds
2022
Total
funds
2021
Current assets
30,011
30,011
291,640
111,6881
309,963
Non-current a55etS
291,640
111,6881
18,323
Total net assets
291,640
ii.
Restricted funds
Total
fuTrds
2022
Openln8
2022
Income
2022
EKpenditure
2022
Schol)rship
Total net assets
291,640
291.640
291,640
291,640
The specified purpose for which the above funds are utili5ed are-.
To support one undergraduate Egyptian student from Upper Egypt, who demonstrates academic merit
Bnd financial need.
li