Company Registration No: 12116147 (England and Wales) Charity Registration No: 1198630
## **REPORT OF THE DIRECTORS AND TRUSTEES AND**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
## **FOR**
**CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD**
## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD**
## **CONTENTS**
||**Page**|
|---|---|
|Legal and Administrative Information|1|
|Report of the Trustees and Directors|2 - 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Statement of Changes in Equity|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8-13|
|Detailed Statement of Financial Activities|14|
## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD**
## **Legal and Administrative Information**
## **Company number**
12116147
## **Charity Number**
1198630
## **Registered Office**
C/O FKGB, 2nd Floor 201 Haverstock Hill London England NW3 4QG
## **Directors and Trustees**
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
P. Kurath J. Mens D. Valdez S.R. Jesner
## **Company Secretary**
J.N. Keisner
## **Accountants**
FKGB Accounting Ltd 201 Haverstock Hill Second Floor London NW3 4QG
## **Independent Examiner**
Johnsons Chartered Accountants Statutory Auditors 1-2 Craven Road Ealing London W5 2UA
1
## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD**
## **REPORT OF THE TRUSTEES AND DIRECTORS**
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 July 2023.
## **OBJECTIVES AND ACTIVITIES**
Educating the students and staff of the University of Cambridge about the Middle East and North Africa. Students will be provided with a platform to compliment their studies with extra-curricular events and engagement with like-minded students and experts in the field of Middle East and North Africa. The students and staff will benefit educationally through speaker events, publications and activities.
The Forum hosts diverse panels featuring speakers with different, often clashing points of view. The composition of our executive, events and research teams is culturally and politically diverse to avoid bias. Our research is deliberately non-partisan, with policy recommendations being made with reference to national, rather than partisan interest.
## **ACHIEVEMENTS AND PERFORMANCE**
In 2023, the Forum succeeded in delivering on its mission to provide relevant and reliable information to the public about the current affairs and strategic issues of the Middle East and North Africa (MENA) region, and the UK’s interests in them.
The Forum hosted a series of publicly available panel discussions (both in person in Cambridge and London) and online on Zoom, making the expertise of internationally renowned analysts available to those interested. The Forum took the volume of its publications to a record level with both its online platform, Manara Magazine, as well as its weekly current affairs analysis newsletter, the Strategic Brief. The Forum continued conducting research as part of its Applied History Initiative, and launched its novel Young Leaders’ Initiative, providing ever more opportunities for education about the MENA region.
## **FINANCIAL REVIEW**
The charity raised £348,578 (2022: £124,963) in total for the year under review as shown in the Statement of Financial Activities, and spent £182,478 (2022: £133,124). This left funds available to be utilised in the future periods of £158,575 (2022: (£7,525) ).
## **PLANS FOR FUTURE PERIODS**
In 2024, the Forum will continue running its existing initiatives in both events and publishing, and look to expand the reach of its services with the help of its Advisory Board and London-based professional community. The Forum hopes to launch a series of workshops, creating a new format to engage with research on the MENA region.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The charity is organised so that the trustees meet regularly to manage its affairs. The Board has power to appoint additional trustees as it considers fit to do so.
2
## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD**
## **REPORT OF THE TRUSTEES AND DIRECTORS**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board ….................................................. S.R. Jesner Trustee 12/08/2024 Date: ….................................
3
## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD**
## **INDEPENDENT EXAMINER'S REPORT**
We report on the accounts of the charity for the period ended 31 July 2023, which are set out on pages 5 to 13.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
- accounting records were not kept in accordance with section 130 of the Charities Act or
- the accounts do not accord with the accounting records I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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…...........................................................
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Edmund Cartwright FMAAT FCCA
for and on behalf of Johnsons Chartered Accountants Statutory Auditor 1-2 Craven Road Ealing London W5 2UA 13th August 2024 Date: ….......................................
4
## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023**
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Unrestricted Total funds Total funds
Funds 2023 2022
Note
£ £ £
Income and endowments from:
Donations and legacies 3 348,578 348,578 124,963
Total 348,578 348,578 124,963
Expenditure on:
Charitable Activities 4 40,206 40,206 43,795
Other 5 142,272 142,272 89,329
Total 182,478 182,478 133,124
Net income/ (expenditure) 166,100 166,100 (8,161)
NET MOVEMENT IN FUNDS 166,100 166,100 (8,161)
Reconciliation of funds:
Total funds brought forwards (7,525) (7,525) 636
TOTAL FUNDS CARRIED FORWARDS 158,575 158,575 (7,525)
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The company has not received restricted funds during the year.
5
## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2023**
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Incoming
resources
(including
At 1 August other Resources At 31 July
2022 gains/losses) expended 2023
£ £ £ £
Unrestricted funds:
General funds (7,525) 348,578 (182,478) 158,575
Total funds (7,525) 348,578 (182,478) 158,575
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6
## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD BALANCE SHEET AS AT 31 JULY 2023**
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2023 2022
Note
£ £
CURRENT ASSETS
Debtors 8 140,000 -
Bank and cash equivalents 22,477 6,182
162,477 6,182
Creditors: Amounts falling due within one year 9 (3,902) (13,707)
Net current assets/(liabilities) 158,575 (7,525)
Total assets less current liabilites 158,575 (7,525)
Total net assets/(liabilities) 158,575 (7,525)
FUNDS TO CHARITY
Restricted Funds 10 - -
Unrestricted Funds 10 158,575 (7,525)
TOTAL FUNDS 158,575 (7,525)
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These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 July 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on ….......................
And signed on its behalf by:
….....................................
S.R. Jesner Trustee 12/08/2024 Date: …............................
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**CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
## **1 Accuonting Policies**
## **Basis of preparation**
The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Change in basis of accounting or to previous accounts**
The company registered as an incorporated charity with HMRC and the charities commission on 14 April 2022. This charity is now required to prepare and file FRS102 SORP small company charity accounts. After thorough examination, we confirm that there have been no material changes identified in the financial position, performance, or cash flows of the entity as a result of the transition from FRS 105 to FRS 102. The accounting policies applied under FRS 102 are consistent with those previously applied under FRS 105, with no significant adjustments required.
## **Going concern**
These financial statements have been prepared on a going concern basis. The directors, having considered the financial position of the charity for a period of at least twelve months from the date of signing these financial statements, have no reason to believe that a material uncertainty exists that may cast doubt about the ability of the charity to continue as a going concern. Accordingly the directors have a reasonable expectation that the charity will continue in operational existence and therefore they continue to adopt the going concern basis of accounting to prepare the financial statements.
## **Fund Accounting**
|**Fund Accounting**||
|---|---|
|Unrestricted funds|These are available for use at the discretion of the trustees in furtherance of|
||the general objects of the charity.|
|Designated funds|These are unrestricted funds earmarked by the trustees for particular|
||purposes.|
|Revaluation funds|These are unrestricted funds which include a revaluation reserve representing|
||the restatement of investment assets at their market values.|
|Restricted funds|These are available for use subject to restrictions imposed by the donor or|
||through terms of an appeal.|
|**Income**||
|Recognition of income|Income is included in the Statement of Financial Activities (SoFA) when the|
||charity becomes entitled to, and virtually certain to receive, the income and the|
||amount of the income can be measured with sufficient reliability.|
|Income with related|Where income has related expenditure the income and related expenditure is|
|expenditure|reported gross in the SoFA.|
|Donations and legacies|Voluntary income received by way of grants, donations and gifts is included in|
||the the SoFA when receivable and only when the Charity has unconditional|
||entitlement to the income.|
8
## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
|Tax reclaims on donations|
Income from tax reclaims is included in the SoFA at the same time as the|
|---|---|
|and gifts|gift/donation to which it relates.|
|Donated services and|These are only included in income (with an equivalent amount in expenditure)|
|facilities|where the benefit to the Charity is reasonably quantifiable, measurable and|
||material.|
|Volunteer help|The value of any volunteer help received is not included in the accounts.|
|Investment income|This is included in the accounts when receivable.|
|Gains/(losses) on|This includes any gain or loss resulting from revaluing investments to market|
|revaluation of fixed assets|value at the end of the year.|
|Gains/(losses) on|This includes any gain or loss on the sale of investments.|
|investment assets||
|**Expenditure**||
|Recognition of|Expenditure is recognised on an accruals basis. Expenditure includes any VAT|
|expenditure|which cannot be fully recovered, and is reported as part of the expenditure to|
||which it relates.|
|Expenditure on raising|These comprise the costs associated with attracting voluntary income,|
|funds|fundraising trading costs and investment management costs.|
|Expenditure on charitable|These comprise the costs incurred by the Charity in the delivery of its activities|
|activities|and services in the furtherance of its objects, including the making of grants|
||and governance costs.|
|Grants payable|All grant expenditure is accounted for on an actual paid basis plus an accrual|
||for grants that have been approved by the trustees at the end of the year but|
||not yet paid.|
|Governance costs|These include those costs associated with meeting the constitutional and|
||statutory
requirements
of
the
Charity,
including
any
audit/independent|
||examination fees, costs linked to the strategic management of the Charity,|
||together with a share of other administration costs.|
|Other expenditure|These are support costs not allocated to a particular activity.|
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Stocks**
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
9
**CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Research and development**
Expenditure on research and development is written off in the year in which it is incurred.
## **Foreign currencies**
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are taken into account in arriving at net income/expenditure.
## **Leased assets**
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability.
Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
## **Pension costs**
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
## **Receipt of donated goods, facilities and services**
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
The charity is a private company limited by guarantee and consequently does not have share capital.
**2 Company Status**
10
**CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023**
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3 Income from donations and legacies
Unrestricted Total 2023 Total 2022
£ £ £
348,578 348,578 124,963
`
348,578 348,578 124,963
4 Expenditure on charitable activities
Unrestricted Total 2023 Total 2022
£ £ £
Writer and researcher costs 40,206 40,206 43,795
40,206 40,206 43,795
5 Other expenditure
Unrestricted Total 2023 Total 2022
£ £ £
Advertising & marketing 2,650 2,650 11,096
Bank charges (15) (15) 6
Dues & subscriptions - - 99
Insurance 299 299 -
Legal & professional - - 405
-
Wages 41,113 41,113
Pensions 892 892 -
Postage and stationery 770 770 22
Rent - - 95
Consultancy 72,637 72,637 69,367
IT & Computer costs 6,553 6,553 2,413
Accounting and audit 2,401 2,401 2,000
Travel and subsistence 14,972 14,972 3,816
Telephone - - 10
142,272 142,272 89,329
**----- End of picture text -----**
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## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023**
## **6 Trustee remuneration and expenses**
|**Trustee**
**Remuneration**
**Pension**
**Other**
**benefits**
**£**
**£**
**£**
P. Kurath
41,834
492
-
J. Mens
18,707
-
-
S.R. Jesner
33,381
-
-
One or more of the trustees has been paid expenses in the current or prior periods.
**2023**
**Number**
**2022**
**Number**
Number of trustees paid expenses
2
2
The nature of the reimbursed expense was relating to travel and subsistence.
**£**
**£**
Total expenses reimbursed to trustees
12,487
2,407
**7**
**Staff costs**
**2023**
**2022**
**£**
**£**
Salaries and wages
41,113
-
Pension costs
892
-|**Trustee**
**Remuneration**
**Pension**
**Other**
**benefits**
**£**
**£**
**£**
P. Kurath
41,834
492
-
J. Mens
18,707
-
-
S.R. Jesner
33,381
-
-
One or more of the trustees has been paid expenses in the current or prior periods.
**2023**
**Number**
**2022**
**Number**
Number of trustees paid expenses
2
2
The nature of the reimbursed expense was relating to travel and subsistence.
**£**
**£**
Total expenses reimbursed to trustees
12,487
2,407
**7**
**Staff costs**
**2023**
**2022**
**£**
**£**
Salaries and wages
41,113
-
Pension costs
892
-|
|---|---|
||42,005
-|
|The average monthly number of full-time equivalent employees during the year
Administration
**8**
**Debtors**
Other debtors|was as follows:
**2023**
**Number**
**2022**
**Number**
2
2
**2023**
**2022**
**£**
**£**
140,000
-|
||140,000
-|
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## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023**
|**9**
**Creditors**
amounts falling due within one year
Other taxes and social security
Other creditors
Accruals|**2023**
**£**
195
2,607
1,100
3,902|**2022**
**£**
-
12,057
1,650
13,707|
|---|---|---|
|**10**
**Analysis of net assets between funds**
Net current assets|**Unrestricted**
**funds**
**£**
158,575
158,575|**Total 2023**
**£**
158,575
158,575|**Total 2022**
**£**
(7,525)
(7,525)|
|---|---|---|---|
The company has not received restricted funds during the year.
|**11**|**Commitments**|||
|---|---|---|---|
||**Pension commitments**|||
|||**2023**|**2022**|
|||**£**|**£**|
||The pension cost charge to the company amounted to:|892|-|
13
## **CAMBRIDGE MIDDLE EAST AND NORTH AFRICA FORUM LTD DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023**
**----- Start of picture text -----**
Unrestricted Total funds Total funds
Funds 2023 2022
£ £ £
Income and endowments from:
Donations and legacies 348,578 348,578 124,963
Total income and endowments 348,578 348,578 124,963
Expenditure on:
Charitable Activities 40,206 40,206 43,795
Total expenditure on charitable activities 40,206 40,206 43,795
Other expenditure
Advertising & marketing 2,650 2,650 11,096
Bank charges (15) (15) 6
Dues & subscriptions - - 99
Insurance 299 299 -
Legal & professional - - 405
-
Wages 41,113 41,113
Pensions 892 892 -
Postage and stationery 770 770 22
Rent - - 95
Consultancy 72,637 72,637 69,367
IT & Computer costs 6,553 6,553 2,413
Accounting and audit 2,401 2,401 2,000
Travel and subsistence 14,972 14,972 3,816
Telephone - - 10
Total expenditure of other costs 142,272 142,272 89,329
Total expenditure 182,478 182,478 133,124
NET MOVEMENT IN FUNDS 166,100 166,100 (8,161)
Reconciliation of funds:
Total funds brought forwards (7,525) (7,525) 636
TOTAL FUNDS CARRIED FORWARDS 158,575 158,575 (7,525)
**----- End of picture text -----**
The company has not received restricted funds during the year.
14