COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by Guarantee) ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2024 Com istration No.. 00641687 Charit Re istration No.. 207471
COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by Guarantee) INDEX TO THE FINANCIAL STATEMENTS Pa8e Legal and Administrative Information Report of the Trustees 3-11 Independent Auditois, Report 12-14 Statement of Financial Activities 15 Summary Income and Expendilure Account 16 Balance Sheet 17 Statement of Cash Flows 18 Notes to the Financial Staternents 19-29
COUNCIL FOR AT-RISK ACADEMICS IA Company Limlted by Guarantee) LEGAL ANO ADMINISTRATIVE INFORMATION REGISTERED ADDRESS AND PRINCIPAL OFFICE London South Bank University Technopark 90 Londtsn Road LONDON SEI 6LN REGISTEREDCOMPANY NUMBER 00641687 REGISTERED CHARITY NUMBER 207471 WEBSITE www.caTa.n80 PATRONS Mr Greg Dyke Baroness NeubergeT DBE Baroness O'Neill of Bengarve CH CBE FB Professor Lord Patel of Bradford OBE Mr Jon Snow Dr Rowan Williams EXECUTIVE DIRECTOR (until 11 Aprll 20251 COMPANY SECRETARY luntil 10 April 20251 Mr Stephen Wordsworth CMG LVO CHIEF EXECUTIVE (from 12 April 20251 COMPANY SECRETARY (from 8 April 20251 Mr Matthew Foster BOARD OF TRUSTEE5 AND DIRECTORS Dame Nicola Dandridge DBE Ichairl Ms Vivienne Stern MBE (Deputy Chairl Mr S J K (Zacl Barratt (Hon Treasurer) Dr Cornelia Sorabji CBE (Chair of Finance and General PuTposes Comrnitteel Ms Sarah Dickson OBE Prof Vincent Emery Mr Alan MacKav Prof joanna Newman MBE Ms Naina Patel Dr Mehroosh Tak Mr Ben Webster Prof Paul Weindling
COUNCIL FOR AT-RISK ACADEMICS IA Company Llmited by Guarantee) LEGAL AND ADMINISTRATIVE INFORMATION Icontinuedl BANKERS National Westminster Bank PIC Southampton Customer Service Centre Brunswick Gate 23 Brunswick Place SOUTHAMPTON S015 2AQ CHARITY DEPOSITORS CAF Bank Ltd 25 Kin85 Hill Avenue Kings Hill, West Malling KENT ME19 4JQ INVESTMENT ADVISERS Investec Wealth & Investment Ltd 30 Gresham Street LONDON EC2V 7QN SOLICITORS Bates Wells 10 Queen Street Place LONDON EC4R IBE AUDITORS Cocke. Vellacott & Hill Chartered Accountants Unit IS City Bu5ine$5 Centre Lower Road LONDON SE16 2XB
COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by fjuaranteel REPORT OF THE TRusfEES For the year ended 31" December 2024 The Trustees, who are a150 the Directors and Council members, present thelr report and the financial statements of the charitable company for the year ended 31 December 2024, which are also prepared to meet the requirements for directors, report and account5 for Comparkies Act purposes and which comply with the current statutory requirernents and the requirements of the charitvs governin8 instrument. Structure, Governante and Managèment Cara (the Council for At-Risk Academics) 15 3 charitable company limited by Euarantee and governed by its Articles of Association, revised and adopted on 7 December 2022. Cara is mènaged by a Countil of Managetnent. made up of the Trustees/DiTectors who are also the member5 of the Company. The full Council met on 5 June 2024 and 4 December 2024. The various chan8e5 in the Council's membership and among the officeholders in 2024 are recorded on page 10 of this report. At the end of 2024 Cara had twelve Trustees/Directors. Since the review of Caia's Articles in 2022 Trustees normally serve a maximum of three 3-yÈar terms in office. The Finance and General Purposes Cornmittee IF&GPCI, made up at the end of 2024 of fourTrustees lincreased to slx from February 20251, oversees many aspects of the charity's work on behalf of the full Council. In 2024 Its Wofk Included consideration of risk man3Bement arising from Cara's programmes and related grant or fellowship alSocations, financial and legal matter5, overall pro8ramrne development. staff remuneration and other human rèsource matters. rental and premises issues. In 2024 it met on 6 March and on 18 September. with an additional pre-council meeting in May. The work of the Nominations and Governance Committee includes keeping under continuous review the overall make-up of the Trustees.. and making recommendations to the Council of Mana8ernent on the appointment of additional Trustees and, as required. of a President and Patrons. The F&GPC has new provisional Terms of Reference as of january 2025 and the membership and work of both Commlttees will be developed further in 2025. A representative of Cara's auditors attends the full Council meetings. to hear about the WOTk being undertaken by Cara and to answer any question5 frorn the Trustee5. At the June 2024 meeting the first draft of the 2023 Accounts was discussed, and the representative of the auditors briefed the Council on the detalSs of the audit work bein8 carried out. The final 2023 Accounts were signed off by Cara's Chair and Honorary Treasurer on 14 August 2024. At the end of 2L124 Cara had seventeen full-time staff and one part-time staff member.. in addition to the Executive Director, fifteen full-time staff were engaged on the Fellowshlp Programme (including two on Maternity Leave. to return to work in 20251. Cara's Syria Programme closed at the end of August 2024 after four successful years and the four Syria Programme Officer5 left Cara. Some Syria Programme follow-on work continued to be managed day-to-day by a former Cara Deputv Director. working independently but in close consultation with the Executive Direttor. Cara's 'Scotland Manager,, a post funded by and co-located with the University of FdlnburEh's international team, 'Edinburgh Global,, Continued to be an important asset for Cara in 2024, allowing the charity to build an even more active partnership between Cara and Scottish higher education, learned societie5 and research institutes. and promoting thelr Increased engagement with Cara's work. Throughout 2024 Cara staff continued to work on a 'hybrid' basis, with each staff member normally workingtwo days each week in the office and three day5 at home. with the office as a whole normally staffed on Tuesdays- Thursday5. ObSectives and Activities Cara's Objects are.. to a551St academies, who have been, or ale, or are at risk of being, subject to discrimination, persecution, suffering or violence on account of ra, religion, nationality, membershlp of a particular social group, or political opinion. to relieve needs among them and their dependants and to ensure thal their spe¢iallst knowledge and abilities can continue to be
COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by Guarantee? REPORT OF THE TRUSTEES lcontinuedl For the year ended 31" December 2024 Objertives and Activities Icontinuedl used for the benefit of the public- and to advance education by supporting academics and their educational institution5 in countries where their continuing work is at risk or compromised, to ertsure that such academics and institutions can continue to fulfil their critical role a5 educators for the public benefit. In Its work to support those suffering from discrimination and persecutlon, Cara Is also ready to help those who are at rlsk because of their sexual orientation or gender identity. Publk Benefit In planning activities for the year. the Trustees kept in mind the Charity Comrnission guidance on pvblic benefit and the need to comply with their duties under section 4 of the Charities Act 2011. Cara's Work In 2024- An Overview Cara's origins BO back to 1933, and to the determination of William Beveridge and other leading academics and scientists in the UK to rescue their colleagues in Germany from Nazi persecution, and thereby to "prevent the wuste of exceptionLTI tJbilities exceptionally troinecr (cara's Founding Statement, 19331. Cara is ready and able to assist at-risk academics from any country in the world. In 2024 it delivered that support primarily through two Programmes- Al Fellowship Prograrnme 2024 was another very intense but ultimately rewarding year for the Fellowship Programme, the present-day version of Cara's original rescue mission from 1933. Thanks to the generosity of Cara's partner Institullons In Its 135-member 'Universitie5 and Research Networv, Cara was ableto support49 more academics and their familie5 to re5urne their careers in safety in 2024. including 15 from Sudan, 10 from Afghanistan. S each from Ukraine and Syria, 4 from Russia and 2 from Gaza, while a number of Fellows who had arrived earlier were successful in securing extensions or further placement5. Over the course of 2024 Cara 5UPPOrted a total of over 220 Active Fellows, ranging at any one time from around 160 to around 190 as existing Fellows rnoved on to other opportunities and new Fellows arrived. The gender ratio at the end of 2024 wa5 52 lrnenl.. 48 Iwomenl. The Programme's work is still gulded by the mission laid down by Cara's founders, 'the relief of suffering un(J the defen¢e of leorning t7ndsclencd- in simple term5, helping academics to escape from danger. even savingtheir lives, but a150 helping to protect what they cairy in their heads, the intellectual capital of their countries. Cara does not want to be in the'brain- drain. business,. while the Fellows are in placement5 Wlth their hosts, they share their unique skills and knowledge. and when they go back, as everyone hopes they will one day be able to do, they will take these skllls with them, developed further during their time here. to help rebuild safer. better Societies. The Programme has three stages, each managed by a designated Team. The Enquiry Team carries out quick but thorough checks to establlsh ea¢h applicant'5 eli8ibility for Cara's support, assesses the ris that they face to clarify how urgentlv they need to get away, and checks with them that they have everything ready to be able to trave5 when that moment Comes. The New Fellows Team then takes over, working with the applicant to settle all the details of their placement. Usually at a member institution of Cara's Network. and cooperates closely with the host on irnmigration ftsrrnalities and the many travel and arrival arrangements. Ai any @iven moment those two teams are working with over 150 new cases between them. The Active Fellows team takes over once the Fellows have arrived and then support5 them throughout their placement. Including by providing opportunities for them to joln Cara's successful mentoring scheme, to receive English language Support, to attend webinars, and to access small grants for emergencies and to help their family members a150 to make the most of their stay. Cara is very grateful to the hundreds of academics and staff at Network institution5 who give their time freely to help the Fellows and their families in so many ways. Host institutions contribute generously to the cost of each placement. Cara normally asks hosts to provide full waivers of any course or bench fees and, wherever possible, also to provide fundin8 for accomrnodation and living costs. Some
COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by Guarantee) REPORT OF THE TRUSTEE5 Icontinuedl For the year ended 31" December 2024 Cara's Work in 2024- An Overview Icontinuedl partners can still cover these costs in full, as well a5 the up-front travel and visa c05ts,' alld there has recently also been a very welcome shift by a growing number of univer51ties from an tsd hoc approach to establishing dedicated multi-year funding allocations for Cara Fellowships. However, costs are rising relentle551y. In particular, the fees that Fellows have to pay for their visas and NHS surcharges went up again sharply in 2023 and 2024 respectively, and the rapid growth in the number of Fellowship placements, many involving families rather than just one individual, has inevitably been a Challenge at a time when university finances are under well-publici5ed pre55ure. A5 3 result, it has become much more common for CèTa to contribute more Significantly than before to the cost of the overall placement package, drawing on the funds it receives from donors. As a result, Cara must continue to raise substantial funds to make Fellowships possible,. but. on the positive slde, this also makes each placement more of a genuine partnership between Cara and the host. While Cara's recent work has been domlnaied by the last three years, successive crises in Afghanistan. Ukraine, Sudan and Gaza, Cara 15 Still able to help people from many other parts of the wo¥ld too. In 2024, Cara was supporting Active Fellows from 21 different countries. and each situation has its own unique challenges. Cara has the flexibility and expertlse to help its Fellows to find a way around many of the obstacles they encounter on their way, but some are beyond Cara's control. For example, many Sudanese applicants have left the cities and are now in rernote regions. with very little acces5 to the internet," while th05e applying from Gaza in 2024 had no way to leave for much of the year once the borders were sealed, leaving them trapped in an actwe war zone. In the course of 2024. many Cara Fellows again achieved notable %utcesses in their study or research. Four managed io return home safely.. whlle 18 of those still unable to do so secured prestigious 'Global Talent, visas to extend their stays, up from 10 in 2023 and with more in the plpeline. Others have secured academic jobs. in a very competitive rnafket. It 15 deeply inspiring to see Cara's Fellows show such resilience and determination to contlnue their careers, de5Plte the very difficult conditions that forced them to look to Cara foi help in the first place. 2024 was also another successful year for Cara Fellows in terms of visa approvals. Thanks to Cara'5 close cooperation with Its hosting partners, who are the visa sponsors for each placernent, Cara Fellows again had a ICMM visa success rate, with only 3 sinÈ5e visa refusal in the seven-year period 2018-24.. and only one applicant for clearance under the Ac3demÈc Technology Approval Stheme IATASI was refused. the first for several years, which wa5 quickly followed by other positive decisions. Looking to the future, Cara will continue to work with partners to highlight the benefits which the UK derlves from hostSng $0 many outstandin6 scholars. through its Fellowship Programme and through other schemes. Caia's work with the Brilish Academy-led 'Researchers at Risk. programme. established in the wakè of Russia's 2022 invasion of Ukraine, has demonstrated thè value of having a govèrnment-funded award scheme running alongside what Cara and others can offer, as a way of responding quickly and effectively to a crisis- and the special visa regirne for all Ukrainians meant that academics from that country could take up their placements here in the UK far more quickly than those going through the normal visa routes. A wider speaal visa category for at-risk academics could bring great benefits to this country. Bl Syria Programmè Cara's Syria Programme ISP) closed at the end of August 2024. after eight busy and rewarding years. It was launched in June 2016. to support academics who had been forced to flee from the conflict in Syria and to seek refuge in surrounding countries. In particular in Turkey. Cara had earlier funded an initial 2015-16 consultation phase with £50,000 from its own re50urces,' after that, awards totalling $4.2m from the Open Society Foundations and the Mellon Foundation, a substantial Private donation, and other grants to support research from individual institutional partners, underpinned the development of the Pro8rarnrne and 115 further progress.
COUNCIL FOR AT-RISK ACADEMICS IA Company Limlted by Guarantee) REPORT OF THE TRUSTEES Icontinuedl For the year ended 31" December 2024 Syria Programme Icontinuedl The SP had five main work areas.. •English for Academic Purposes IEAPI.. •Academic Developrnent," •Re5earch Incubation Visits,. •Cara-Commissioned Research.. •and the Syrian Research Fellowshlp Scherne. Over 200 Syrian ac3dernics were attively engaged with the SP'S work, and the SP also enjoyed strong support from UK univer51ties and learned societies. Over 60 UK-based academic5 contributed to the SP'S EAP activities, with over 400 more volunteer experts supporting its research activities and academic development work. From the beginnin& research played a vital role in sustaining the SP participants, facilitating their profe55ional connection and collaboration with collea8ue5 from wider regional and international academic communities. Just as importantly, the SP provided a vital Space in which individual Syrian academics could reclaim their academ¢¢ identlty in the face of so much loss and connect with each other to develop discipline clusters and interdisciplinarycollaborations. These In iurn facllitated their continued academic engagement. contribution and development over this prolonged period of uncertainty. Highlights include.. •The SP'S weekly online E-learn Soirée Series delivered over 300 webinars on key topics. with many of these introductory sessions then being extended through 2- to 6-week online training courses. These enabled a complementary focus on teachinE rnethods. and the SP also facilitated much-needed formal recognition of prior teaching experience and practice through Advance HE, one of many organisations to have supported the SP with fee waivers. •Over 30 Research Incubation Visits of 4-8 weeks were hosted by UK univer51ties, many of which contTibuted to the cost in-kind andlor financially, leadingto follow-on research collaborations and up to five years of institutional affiliation for Syrian colleagues with contlnuing access to their host institution's online re50urce5; •Over 150 research grants were awarded, leading in most cases to publications in peer-reviewed journals.. •Several SP participant5 were engaged by UK universities as paid researchers in their own research projects, in recoÉnition of the intrinsic value of their Syrian colleague5, local knowledge. expertise. experience and networks,. •A new Cambridge University Press Elements series on 'HigherEducation ondFor¢ed Displo¢emenY in 2025 wlll feature SP outputs. But Cara's mission @oes beyond helping just individuals. As noted above, Its Articles define one of Cara's objectives as bein8 to advance education by supporting actidemics t7nd their educi7tNOFial institutions in countries where their continuing work is 17t risk or compromised". This concern for institutions led Cara to develop its Collaborative Developmental Partnership with the staff of Sham University, a small not-for-profit institution near Azai in a part of north-west Syria that was then outside the control of the Damascus regSme, and whlch was working to provide acce55 to quality higher education to local young people and also to the many other Syrlans displaced to the area by conflict, offering them hope for thefuture and an alternative to radicali5ation in an area that was still fragile, fragmented and threatened by violent militia groups. One of the many challenges that Sham faced was how to show eviden that it adhered to European standards and guidelines, in a situation where it was not formally accredited by any national authority. Facilitated by a core grtsup of academics from the Universities of Leeds, Kent and sussex. the SP supported a process of structural and curriculum reform aimed at providing evidence that the University wa5 indeed delivering quality higher education in line with internationally reco8nised standards. Thi5 core group of university supporters planned to take over responsibility for the continuation of this work inio 2025. The overthrow of the Assad regime in December 2024. combined with wider regional instability and geopolitical changes, raise new questions about Syria's future but, if circumstances perrnit, those who have participated in Cara's SP over its eight years should be well placed to help the HE sector in Syria to navigate future developments.
COUNCIL FOR AT-RISK ACADEMICS IA Company Limlted by Guarantee) REPORT OF THE TRusfEES Icontinuedl For the year ended 31" December 2024 Syria Programme Icontinuedl Very Ilttle of what the SP achieved would have been possrblewithout the support of the volunteer experts. in a wide variety of roles, many of whom established long-term friendships with Syrian colleagues and remain committed to continuing to 5UPPOrt them even after the closure of the SP. Cara also applauds the contribution of many universitie5, including those outside the UK, and other SP institutional partners, publishers. and conference organisers, all of whom 8ave extremely generously of their time and other support to Syrian colleasues. Cara also gratefully remembers the tremendous response of so many individuals. universities and other organisations to the devastating earthquakes in early 2023 in south-eastern Turkey, which had left many SP participants destituie and homeless. In Just a few weeks, they contributed over £140.000 to Cara'5 emergency appeal for funds. making it posslble for Cara, which also contributed from its own reserves, to provide much-needed emer8ency support for the most-seriously affected and their families, In four funding rounds. until the wider relief efforts got under way. A5 one of those affected put it land many others said similar things).. "I lived unforgettable moments when the horrific earthquakes struck. I would like to express my gratitudefvr the endless unrl genuine support thot Caro provide5... The morol volue olthi55UPPOrtis much greater thon ffts reol value, itproved thot Cari7 is one bigfumily. Thonkyoufrom my he¢irt." Finally, Cara would like to thank all the many staff members who worked 50 hard, ovèr the eight year5, to make the SP such a success. We wish them all the very best for their futures. cl Cara Sn Scotland 2024 was another busy period for all our unlversity partners in Scotland, who hosted 20 Fellows oveT the course of the vear. Cara'5 work in Scotland has, a5 noted above, been greatfy assisted by having a'cara Scotland Managerf, based at and generously Supported by the University of Edinburgh. Cara's annual 'Scotland and the North. conference, hosted In May 2024 by the University of Oundee. was an excellent opportunity to pull together what Cara and its partners were all doing and to discuss future plans. Cara Fellows from Syria nd Afghanistan and a 'Researcher5 at Risk, Fellow from Ukraine outlined their own journeys to safety and explained how they were each now taking forward their academic careers. Two panel discussions then considered how universities might best embed support for Cara into wider university strategies to assist exiled and refugee academics and students. and also what option5 were open to Fellows to continue thelr academic careers if, at the end of their initial Fellowships, it was still not safe for them to consider returning home. Another highlight of 2024 was the return of Cara's annLtal lecture in Scotland, a joint undertakin8 Wlth the Royal Society of Edinburgh and the Young Academy of Scotland. Professor Shalini Randeria, the President and Rector of the Central European University ICEUI. has a strong track record of research into soft authoritarianism, democracy and demo8iaphy. forced displacement and dispossession, and in her thought-provoking talk she set out her concerns about the backlash against liberal value5 and principles and a8ain5t human rights in general, and especially against women's rights, LGBTQI rights and migrant5, rights, not only in autocratic regimes but in liberal democracies too. The full text of her presentation is available on the Cara website. CaralRoyal So¢lety'Sclence and Clvllisation, Lècture On 22 October 2024 Cara held its tenth annual 'S¢ien¢e and Civilisation, lecture, once again a5 a joint event with the Royal Socièty. in a 'hybrid' format with a live audience and simultaneous streaming. Taking as hi5 theme 'On Science, Lt7w ond Internotffonol Courts., Professor Philippe Sands KC considered, with many examples, the ways in which international law and international courts initially stru8gled to catch up with, but are now startin8 to contribute positively to, vitally important issues such as climate change and environmental protettion. A video recording is available on the Cara website. FundralsSng Policy Trustee5 review Cara's fundraising on a regular basis. Cara conducts its own furTrdTaising activity and does not use a commercial fundraiser or use direct mailing to raise funds from the public. Most of Cara's funds, for Fellow5 and for its own running costs, come from the university sector. Cara received no complaints about Its fundraising activities in 2024.
COUNCIL FOR AT-R15K ACADEMICS IA Company Limited by Guarantee) REPORT OF THE TRUSTEES Icontinuedl For the year ended 31" December 2024 Fundralslng Actlvltles Cara has to raise new funds every year to be able to continue its work. Over Icrt) UK univer51ties contlnued thelr support for Cara's running costs in 2024 by paying voluntary annual subscriptions,. de5Plte the well-publicised financial squeeze which the sector is facing. some nevertheless were able further to increase their subscription amounts. As a re5uIt, Cara's total subscription intome in 2024 totalled £549,05012023.. E536,9501. Cara also applied successfully for new three-year awards from three major donors and received many direct debit and one-off donations from individuals. Cara contlnues to be extrernely 8rateful to all it5 donors,. some prefer to remain anonymous, but those who are happy to be acknowledged in public are listed on page 20. Since 2023 Cara has been working with Gifted Philanthropy to develop and implement a new fundraising strategy for Cara. As part of this, the first of a series of Hwarene55-raisin8 event5 was held in June 2024 at the University of Chester, followed after the summer break by three events in three days, at Glas8ow, Durham and Edinburgh in September. and events at the LSE and St Andrews in October and at Cardiff Metropolitan and Loughborough in November. In many case5 the Vio- Chancellors and other senior staff generously gave their time to support the events. Other venues and clates are under discussion for 2025. UK Partnerships Throughout 2024, Cara engaged closely with UK univer51ties and research institutes, includingthe members of its Network. In the course of 2024 one new member, the University of Wales, Trinity St David, joined the Network and two others- Citv and St George's, both University of London- merged, leaving the total number of Network members unchanged at 135. On 20 November 2024 Cara's hosts. London South Bank University, organised an event to rnaTk Cara's 20, annÉversary at LSBU. as part of their'ReseaTch and Innovation Festival,. Professor David Phoenix. LSBU'S Vice-chancellor, gave an address. Professor Sir Deian Hopkin. who was a Cara Trusteè and also Vice-chancellor of LSBU when Cara arrived, also spoke, as did a Cara Fellow from Syria, Alaa Zam. In 2024 Cara continued to work with the British Academy in the framework of the 'Researchers at Risk, Programme, launched in 2022 with £12.8m from the UK Government and £O.55m from other donor5. Cara 15 responsible for paying the awards granted under the scheme to Ukraine-based researchers who were proposed for awards and are now bein8 hosted by UK universities and research Instltutes. At the end of 2024. 175 'Researchers at Risk. grantees were receivin8 award payments through Cara. Cara Fellow5 continued to benefit in 2024 from the Brit15h Academv/Cara/Leverhulrne 'Researchers at Risk. Research Support Grants programme, launched in October 2022, under which the Leverhulme Trust Is providing funding of £I.000,000 over five years to support researchers at risk. Grants of up to £10,000 each are available to support research projert activities for eligible researchers in all disciplines except medical and health science5. The third round of award bids was held in 2024, with fivè rnore Cara Fellow5 subsequently recèiving awards. Cara was again invited by Times Higher Education to be the 'Charity Partner, at its annual awards ceremony. held in Birrningham in November. A Cara Fellow from Afghanistan spoke movingly about his experiences, and an onllne table collection raised funds to support Cara's work. Internatlonal Partnershlps Cara works with a wide range of like-minded international partners, including Its two US counterparts, the Scholars at Risk Network ISARI and the Institute of International Education's Scholar Rescue Fund IIIE-SRFI. Although the organisatitsns are quite separate, Cara is in regular touch with both SAR and IIE-SRF and funds and supports joint placements. Irt 2024 Cara also continued its engagement with the Philipp Schwartz Initiative IPSII, run by the Alexander von Humboldt Foundation with Support frorn the German Foreign Ministry and a number of GeTrnan foundations. which helps at-risk acadernics to find places at German universities. So far, Cara has SUPPOrted 64 successful PSI applications In fourteen rounds, with the results of the fifteenth round due by the end of May 2025. Several of our Cara Fellows and SP participants have. been successful in the past in winning Psl-funded places.
COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by Guarantee) REPORT OF THE TRUSTEES Icontinuedl For the year ended 31" Oecember 2024 Internatlonal Partnerships Icontlnuedl Since September 2022, Cara has been the lead on Wolk Package 2, 'Guidance for Researchers at Risk,, in the second phase 12022-20251 of the Eu's Inspireurope+ programme. This programme supptsrts at-risk academics who have found refuge across Europe, as one of the Eu's Marie Sklodowska-curie Actions IMSCAI. Brexit-related complications had prevented Cara from participating in Phase 112019-20221, so Cara was pleased to be invited to join Phase 2 and to lead one of the Work PackaÈes, to provide six webinars and six training workshops over the three years. By the end of 2024 Cara had hosted five webinars and four training workshops, with the final webin3r and the last two training workshops to be organised in 2025. The taT@et set was to reach over 300 researchers at risk over the three-year period through the combination of these interactive training sessions and the webinars.. by the end of 2024, with one more webinar and two more trainin8 sessions still to go. Cara had already reached 6631589 webinar attendees and 74 training participants). Nnanclal Performance In 2024 most universities again continued to pay the fund5 they were providing for the accommodation and livinÉ eosts of Ihe Cara Fellows they were hosting a5 restricted donations to Cara, rather than paying the Fellows direct., Cara paid the funds on to the Fellows. in full, as charitable 8rants. The British Academy a150 paid the fund5 they were channelling to the Fellows of the 'Researchers at Rlsk, programme through Cara. also to be paid on in full. As a re5uIt, Cara's income in 2024 again rose significantly, totallin8 £13,957,477 and total expendlture and commitments on awards and programme and prolèct work for the year amounted to £14,083.505. Following net investment gains of £24.511 Ireali5ed gains.. £17.098. unreali5ed gains £7.4131 the total net movement of funds was a deficit of £IOI,517. On a cash basis there was a decrease of £906,450 (2023.. 0 decreose of £5.210.066J. Further information is given in the account5 starting at page 15. A5 in previous years the timing of receipts of restricted income when compared with the payment out of such income ha5 led to a significant variance in the result for restricted fund5, which In 2024 was a deficit of £395,92612023.. deflcit of £32,456). Reserves Pollcv At their January 2018 meetin& Cara's Council of Management agreed that unrestricted reserves should be maintained at a level roughly equivalent to six months of normal operating costs. Details of the various funds at the year-end are given In note 15 to the accounts. Investment Policy The overall oblective set out in the Investrnent Policy Document and subsequent guidHn¢e to Cara's investment advisers, Investec Wealth & Investment Ltd, is to create sufficient capital growth to enable the charity to carry out its purposes consistently year by year with due and proper consideratlon for future needs and the maintenance of, and if possible, enhancement of. the value of the invested funds while they are retained. Relatively stable investments, includSng fixed interest gilts and money market deposits, are balanced by investments in UK and overseas equities and property. Investec Wealth & Investmeni Ltd have been instructed that certain categories of investments are to be avoided on ethical grounds. In the course of 2024 Cara maintained the second account opened in 2023 with Investec Wealth & Investment Ltd, with money being invested in two AAA-rated money-market funds. one operated by J P Morgan and the other by Goldman Sachs. The Trustees are 5atlsfied that the General and Designated Reserves remaln at a satisfactory level to support Cara's present and future operatioris. Future plans The Trustee5 of any charity such as Cara, which work5 to help those sufferin8 from persecution and vlolence. must dream of a day when its work will no longer be needed. Byt that day. very sadly, seems unlikely to come soon. Recent developments seem. if anything, to be taklng the world in the opposite direction. And so, in its tenth decade, the Trustees and the Cara team will continue their work, fvr the relief of sujyering ond the deftn¢e of let7rning and science,. The Fellowship Programme wlll stay at the heart of Cara's work and Cara will continue also to look for opportunities to launch and run regional programmes, drawlng on the experience of its earlier Iraq12006-12I, Zimbabwe12009-20131 and Syria 12016-20241 Programmes. In parallel. Cara will take forward its fundraising campaign in 2025, aimed in particular at raising wareness of its work among the wider university and research community in the hope of significantly in¢reasinE the number of individuals donatin8 re8ularly to support Cara's work, and will continue to seek support also from foundations and trusts, large and small.
COUNCIL FOR AT-RISK ACADEMICS {A Company Limited by Guarantee) REPORT OF THE TRUSTEES Icontinuedl For the year ended 31" December 2024 Trustees The Trustees of the charity in office during the year. who also served as Direttor5 for the purposes of company law, were-. Prof Alan Mccarthy Ichair until 27 May 2024. resigned as a Trustee 25 October 20241 Dame Nicola Dandridge DBE (Honorary Secretary until 27 May 2024, Chair from 27 May 20241 Mr S l K Izacl Barratt. Honorary Treasurer Dr Cornella Sorabjl CBE (resigned and re-appolnted 5 June 2024. Chair of the Finance and General Purposes Commiltee from l November 20241 Ms Vivienne Stern MBE Iresigned and re-appointed 5 June 2024,. Deputy Chair and Chair of the Nomlnatlons and Governance Committee from l November 20241 Ms Sarah Dick50n OBE lappointed 18 january 20241 Prof Vincent Emery Iresigned and r&appointed 5 June 20241 Mr Alan Mackay lappolnted 10 January 20241 Prof joanna Newman MBE (resigned and re-appointed 5 lune 20241 Ms Naina Patel lappointed as a Trustee IS January 20241 Dr Mehroosh Tak lappointed 11 January 20241 Mr Ben Webster (appointed 22 March 20241 Prof Paul Weindling At the very be8inning of 2025 Cara's Trustees and staff were deeply saddened to hear that Professor Alan Mccarthy, who had served for eighteen years as a Trustee until his resignation in October 2024 a5 a result of illness, had passed away. In his early years with Cara he was simultaneously both Chair of the Allocation Committee of Cara'5 UK Programme, decidin8 on grants to refugee academics in the UK, and a leading figure In Cara's first regional programme, for Iraq, which worked through an office in Jordan to support Iraqi academic5 who had been forced into exile as a result of violence in their own country or who were still stru8gling to stay on and work there, despite the very ieal risks. Many dozens of people benefited directlyfrom his engagement. He later put hi5 experience to good use as one of the drivers behind Cara's Syria Programme, which worked for eight years to support Syrian academics in exile in Turkey, while he also acted as a mentor to exiled academics in the UK who had sought refuge here through Cara's Fellowship Programme. In parallel, hetook on evergreater responsibilities for the charity as a whole, becoming first Cara's Honorary Secretary and then, finally, the Chair of Trustees. Cara's Executive Oirèctor and Dèputy Director and a former Trustee who had been a close friend for many year5 attended his funeral, where the Executive Director gave a brief Address. The p05t of Cara's President remained vacant in 2024. The Trustees have no Interest In any contract wlth Cara nor do they receive any remuneration for their servi$. Trustees, responsibilities for the financial statements The Trustees/Director5 are responsible for preparing the Report of the Tru5tee5 and the financial statements In accordance with applicable law and with èpplicable Financial Reporting Standards. Company law requires the TrLSStee5/Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure tsf the chariiy for that period. In preparing those financial statements the Trustees/Directors are required to: • select suitable accounting policies and then apply them consistentlv,. make judgements and estimates that are reasonable and prudent,. and prepare the financial statements on the 'goin8 concern, ba515 unless it is Inappropriate to assume that the charity will ¢ontinve to operate. io
COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by Guarantee) REPORT OF THE TRUSTEES Icontinuedl For the year ended 31" December 2024 Trusteeg responsibillties for the financial statements Icontlnuedl The Trustees/Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy. at any tirne, the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Att 2006. They are also responsible for safeguardlng the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and othei irregularities. Risk Management The Trustees reviewed the major risks to which the charity 15 exposed at the Council meeting in June 2024 and satisfied themselves that proper systÈms and procedures are in place to rnanaEe those risks. Trustees continue to pay close attention to all developments that could affect the operation5 of Cara's univer51ty partners and other donors. and thelr ability to continue to support Cara. All staff travel to conflict-affected areas takes full account of Foreign, Commonwealth and Development Office Travel Advice, and of the views of local contacts. An insurance policy covering Director5, and Officers, Liability and Corporate Liability in connection with any negligence, default, breach of duty or breach of trust in relation to the company was in force during the year and at thetime the report was approved, in addition to standard policie5 for Employers, abIlItY Insurance and Public and Products Liability Insurance. Audit Enqulrles As far as Trustees are aware, there is no relevant audit information of which the charltable companls auditors are unaware. Each of the Trustees has taken all steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the companvs audltors are aware of such information. Auditors Cocke, Vellacott & Hill continue a5 audltors of the company. By Order of the Councll of Management Matthew Foster Chief Executive and Company Secretarv 9 July 2025 li
COUNCIL FOR AT-RISK ACADEMICS IA Company Llmited by Guaranteel INDEPENDENT AUDITORS, REPORTTOTHE MEMBERSOFTHE COUNCIL FOR AT-RISK ACADEMICS Oplnlon We have audited the flnancSal statements of Councll for Af-Risk Academics for the year ended 31 Decernber 2024 which comprise the starement of financlal activities, summary income and expenditure, ba13nce sheet, statement of cash flows and notes to the financial statements including a surnrnaryof significant accountlng policles. The financial frameworkthat has been applied in their preparation is applicable law and United Kingdom Accountlng Standards (United Kingdom fjenerally Accepted Accounting Practicel including FRS 102 "The Financial Reporting Standard applicable in the UK and Republlc of Ireland. In our opinion the financial 5taternent5'. give a true and fair view of the state of the charitable cornpan¢s affairs as at 31 December 2024, and of its incoming resources and application of resourtes for the year then ended.. have been properly prepared In accordance with United Kin8dom Generally Accepted Accountin8 Practice. and have been prepared Sn accordance with the requirements of the Companies Act 2006. Basls for Oplnlon We conducted our audit in accordance with International Standards on Auditlng IUKI 115As IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs Responsibilities for the Audit of the Financial Statements sertion of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevènt to our audit of the financial Statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilTties in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the director5, use of the 80in8 concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties re13ting to events or conditions that, individually or collectively, May cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the finzncial statErnent5 are authorised for issue. Our responslbSlltles and the responsibllilies of the dlrectors wSth respert to going concern are described in the relevant sections of this report. other Informatlon The other information comprises the information included in the annual report, other than the financial statement5 and our auditorfs report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our report, we do not expres5 any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responslbillty is to read the other Information and, in doing $0, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materi311y misstated. If we identify such materlal inconslstencles or apparent material rni55taternents, we are required to determine whether there is 8 material misstatement in the financial statements or a material misstatement of the other inforrnation. If, based on the work we have performed. we conclude that there is a material tnisstatement of this Other information, we are required to port that fart. We have nothing to report in this re8ard. Opinions on other mattels prescribed by the Companie5 Act 2006 In our opinion, based on the work undertaken in the course of the audkt.. the information given in the Tru5tee5' Report, which incorporates the Dlrectors. Report prepared for the purposes of company law. for the financial year for which the financial statements are prepared is consistent with the financial statement5.' and the Directors, Report included in the Tru5tees' Report has been prepared in accordance with applicable legal requirernents. 12
COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by Guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF COUNCIL FOR AT-RISK ACADEMICS Icontlnuedl Other matter5 on which we are required to report by exceptlon In the light of the knowledge and understanding of the charitable company and it5 environment obtained in the course of the audit, we have not identified rnaterial mi55tatements in the Directors, Report. included within the Trustee5' Report. We have nothing to report In respett of the following matters where the Companies Att 2006 requires us to rep)rt to you if, in our opinion.. adequate and properaccounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in 8greement with the accounting records and returns.. or certain disclosures of trustees. remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit,. or the trustees were not entltled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemptions In preparing the directors, report and from the requirement to prepare strate8ic report. Responsibllltles of trustees As explained more fulty in the trustees. responsibilities statement set out on page 10 the trustees (who are also directors of the charitable company for the purposes of company lawl are responsible for the preparation of the fInancal Statements and for being satisfied that they give a true and fair view, and for such internal control as the direttors determine is neCSary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's abilltyto contSnue as 80in8 concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Audltorfs responslbllltles for the audli of the financial statements Our objective5 are to obtain reasonable assurance about whether the financial staternents a5 a whole are free from material misstatement. whether due to fraud or error. and to 155ue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the ba515 of these financial statements. Extent to which the audit was considered capable of detectln8 Irregularitles. including fraud Irregularities, Including fraud, are instances of non-cornpliance with laws and re8ulations. We design procedure5 in line with our responsibS1ities, outlined above, to detect material misstatements in respect of irre8ularitles, including fraud. The extent to which our procedures are capable of detectin8 irregularities, including fraud. is detailed below. We have obtained an understanding of the charitable company's policies and procedure5 throu8h discussions with senior management. We also drew on our existing understanding ol the work that the charitable company does. We understand that the charitable company complies with its responsibilities through c105e involvement of the Executive Director n the day to day running of the business and regular liaison between him and the Chair of trustees. Were there any litl8ation or claims they would come to the attention of the Executive Director directlv. The charitable company also holds quarterly Finance and General Purposes Committee rneet1n and half-yearly General Council meetings at which all such matters 3re discussed. Externally prepared qvarterly management accounts are clrculated to all trustees and senior rnanagement in advance of these meetin8s along with detailed reports by the Executlve Direttor and the Deputy Director. We have reviewed these reports. and minute5 of all meetings, and no irregularities were identifled. In the contert of the audit, we consldered those laws and regulation5 which detemine the form and content of the financral Statements. which are central to the charitable companws ability to conduct bu5ines5 and where failure to cornply could result in material penalties. 13
COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF COUNCIL FOR AT-RISK ACADEMICS Icontinuedl Extent to which the zudit was considered capable of detectine rrregularltles, In¢ludlngfraud Icontinuedl We have considered the disclosure reouirements of the Companies Act 2006 and the Charities Act 2011, along with the Charities SORP FRS102 and the Charities (Accounts and Reportsl Regulations 2008 as part of our finalisation processes. Operationally we identified that compliance with irnmigratitsn legislation which informs the work ol the Home Office 15 the si8nlficant area that the charitable company has to conform to. We tested a sample of fellows asslsted to enable us to evaluate the extent to which thi5 15 taken into account and documented. We discussed the possibility of fraud with senk?r management and whether they had any knowled8e of any actual. alleged or suspected fraud. We designed our audittests to consider controls and tested a sample of payment5 to fellows payin8 attention to the evidence obtained in respect of our 5arnple fellows, identities. In common with a113udits under ISAS IUKI we 8150 performed specific procedures to respond to the risk of rnanagement override. We assessed that the charitable company's control environtnent is adeouate for the size and operatinE model ol such a charitable companv. A further description of our responsibilities for the audit of thefinancial statements T5 located on the Financial Reporting Council's website at.. www.frc.org.uk/auditor5responsibilities. This description forms part of our auditorfs report. Use of our report This report is made 501ely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Cornp3nies Act 2006. Our audit work has been undertaken so that we mi8ht State to the charitable company's member5 those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest e*cent permitted by13W, we do not accept or assume responsibility to anyone other than the charitable cornpany and the charitable company's member5 as a body. for our audit work, forthis report, or for the opinions we have forrned. DAVID WARREN BA FCA (Senior Statutory Auditorl For and on behalf of COCKE, VELLACOTh & HILL Chartered Accountants and Statutory Audltor Unit 15 City Business Centre Lower Road LONDON SE16 2x8 Date.. 9 July 2025 14
COUNCIL FOR AT-RISK ACADEMICS IA Company timited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31st December 2024 Unrestricted Funds General De5igrtated Restrlcted Funds Total 2024 TottJl 2023 Note5 Income from: Voluntary income Donations and legacies 912,886 12.650,034 13,562.920 12,346.461 Activities for Generating Funds Investment Income 394,557 394,557 117,872 Total incorne 1,307,443 12,650.034 13,957.477 12,464,333 Expendlture on: Raising fund5 Charitable activities Grants payable Programme and project work Governance 133,877 133,877 40,002 14,691 872,333 17,244 12.928.330 12,943,021 11.240,010 117,030 989,363 949,474 17,244 16,680 Total expenditure 1,038,145 13.045,360 14.083,505 12,246.666 Transfers between funds 15 Net gains on investments io 24,511 24,511 20,253 Net incomellexpenditurel other recognised gains / Ilossesl Other gains /llossesl 293.809 1395.3261 1101,5171 237,920 Net movement in furtds 293,809 1395,3261 1101.5171 237,920 Reconciliation of funds Total fund5 brought forward 15.16 615,285 150,000 592,774 1.358.059 1,120,139 Total funds carrled forward 15 909,094 150,000 197.448 1,256,542 1.358,059 All of the operations undertaken by the charitable company during the current and preceding years are continulng operations and there were no other recognised gains and losses oiher than those above. The notes on pages 19 to 29form port of thesefinonciolstutements 15
COUNCIL FOR AT-RISK ACADEMICS IA Company Limlted by Guarantee) SUMMARY INCOME AND EXPENDITURE ACCOUNT For the year ended 315t December 2024 Income Notes 2024 2023 Donations and legacies Investment income Reali5ed gain51llosse51 on investments Unrealised gain5 on investments 13,S62.920 394.557 17.098 7,413 12,346.461 117,872 (2,9181 23.171 io io Total income 13.981,988 12,484.586 Expendlture Raising funds Charitable activities.. I3377 40,OQ2 Grant5 payable Programme and project work Governance 12.943.021 989,363 17,244 11,240,010 949,974 16.680 Toial expendlture 14.083.505 12,246,666 Net lexpenditurellincome for the year 1101.5171 237,920 All of the operations undertaken by the charltable company during the current and preceding years are continulng operations. The retained deficit for the year based on historical cost 15 £108,93012023- net surplus £214, 7491. The Summary Income and Expendlture Account is derived from the Statement of Financial Actiwties on page 15 which together with the notes to the accounts on pages 19 to 29 provides full information on the rnovements during the year of all the funds of the charitable company. The notes on pages 19 to 29form part of thesefinoncAi71st(Jternents 16
COUNCIL FOR AT-RISK ACADEMICS {A Company Limited by GuarantÈèl BALANCE SHE as at 31st December 2024 Notes 2024 2023 resttsted Fixed 355ets Tangible assets Investments 5.795 7,703.906 10,367 6,344,849 io Total fixed a55ets 7.709.701 6,355.216 Current assets Debtors Cash at bank and in hand li 446,071 2,514.789 525,265 3,421,239 Total current assets 2,960.860 3.946,504 Creditor5- amounts falling due within one year 12 19,414,019) (8,943,661? Net current liabtlities 16.453,1591 {4,997.157) Total assets less current Ilabilities 1.256,542 1,358.059 The funds of the charity: Restricted Income Funds 15, 16 197A48 592,774 Unrestricted Funds- general Unrestricted Funds- designated 15, 16 909.094 615.285 15 150,000 150,000 Total charityfunds 15 1.256.542 1,358,059 The financial statements were approved by the Board of Trustees on 9 July 2025 and signed on its behalf by=" NICOLA DANDRIOGE (Trusteel SIMON BARRATt (Trusteel Company Reglstratlon No: 00641687 The notes on pages 19 to 29fom? purt of thesefinanciulstutements l7
COUNCIL FOR AT-RISK ACADEMICS IA Compafty Limited by Guarantee) STATEMENT OF CASH FLOWS For the year ended 315t December 2024 2024 2023 Notes Cash flows from operating artivlties Net movement in funds 1101,5171 237.920 Add back depreciation char8e Net Igainl on investments Decrease in debtors Increase In credltors 7,659 124,5111 79,194 470.358 6,715 120.253) 164,623 408,069 io li 12 Net Cash generated from operatin8 actlvities 431.183 797,074 Cash flows from investing activit1È5 Purchase of tangible fixed assets Purchases of Investments Increase In cash held at Investec Wealth & Investment Ltd Proceeds from sales of investments 13,0871 11.450.66SI {3,842J (6,043,791J io io io 191,1211 207,240 1421) 40.894 Net cash used In Investlng artlvltles {1,337,6331 (6,007,160) Decrease in ¢ash 1906,4501 (5,210,086) The notes on poges 19 to 29fvrm port of thesefinoncialstt7tements 18
COUNCIL FOR AT-RISK ACADEMICS IA Company Umited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2024 Accountlng pollcies These financial statements have b8en prepared under the hlstorical cost convention as modlfied by the inclusion of fixed a55ets investments at market value, and in accordance with the Charities Act 2011, the Companies Act 2006, and the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021, and follow the recornmendation5 of the Charity Commission in Actounting and RepoTting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordancewith the Financial Reportlng Standard applicable in the UK and Republic of Ireland IFRS 1021, the "Charitie5 SORP IFRS 1021" The company is registered in En8land and Wales. is a public benefit entity and reports in £sterling, its principal currency. The principal accounting policies adopted are as follows- lal Incomin resources All incomin8 resources are recoEnised once the charity ha5 entitlement to the resour5, if it is certain that the resources will be received, and the monetary value of the incominB resources can be measured with sufficient reliablllty. Income is deferred where the charity has to meet conditions imposed by the donor before expenditure of resources tan take place. Investment income and interest received includes income tax recoverable where applicable. Ibl Re50ur¢es ex ended Expenditure is included in the account5 on an accruals ba51S. Expenditure incurred on activitie5 falling directly within one c05t category is attributed to that category. Other expenditure. including salaries. has been reasonably and consistently apportioned to charitable activities and governance costs on a time spent basis. liiil Charitable awards authorised by the charity and a8reed by the grantee in the financial year and cornmitted for payment before the end of the next financial year have been accrued in the account5. Icl Tan ible fixed assets The depreciable value of each asset is written off over its experted useful life. This is currently expected to be three years for office equipment, while the depreciation charge on office furniture is calculated at 15% on book value. The useful life of each asset, its residual value and the amounts of depreciation charged are reviewed annuallv. Idl Investrnents Investment5, which are listed on the Stock Exchange, are valued at the middle market price at the end of the year. Reali5ed and unreali5ed gains and105ses are accounted for in the statement of financial activities before arriving at the net movernents in funds for the year. lel Taxation Provision for corporation tax is not necessary a5 the charitable company is a registered charity. No delerred tax provision is required. The charity is non-trading and is not registered for VAT. In Unrestricted Funds lil The General reserve represent5 those funds that the Board may use Sn the furtherance of the charitable objective5 of the charitable company. Illl The Revaluation reserve represents the unrealised appreciation In the market value ot the investments over historical cost ai the balance sheet date. liiil In 2021 the Trustee5 agreed to desi8nate £50,000 from the General Reserve, to be held to fund the preparatorywork for a future regional programrne as and when a 5Ultable opportuntty is identified and agreed by them. In 2024 the Trustees deslgnated a fuTthei £ioa.000 from the General Reserve of which £50,000 is an additional contribution towards a future regional programme and £50,000 is for future fundraising and development costs. Igl Restricted Fund5 lil Cara launched its regionally-based Syria Programme in 2016, to PTovide support to academics affected bythe Syria crisis. Cara funded the initial 2C115116 consultation phase with E50.000 from its own resource5, and subsequent phases have been 8enerously supported by the Open Society Foundations and the Mellon Foundation, among others. By December 2024 some 200 Syrian academics were actively engaged with Programme activitie5, wlth over 300 more registered on the Programme database. Staff from a wlde range 19
COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For the year ended 31st December 2024 Accounting policies Icontinuedl (gi Restricted Funds continued of UK univer51ties are supporting the development and delivery of the various work strands. lill The Fellowship Programme arose from the Emergency Appeal for Iraq launched in 2006 and has since been expanded to become a global Programme. Ihl Forei n exchan ains and losses Asset5 and liabilities denominated in foreign currencies at the balance sheetdate aretranslated Into sterling at the closing rate. Transactions In foreign currencies are converted to sterling at the rate of exchan8e prevalling on the day of the transaction. eratin leases Rent payable under operating lease5 15 charged to the income and expenditure account as incL¢rred. .1 Pensions Eligible staff members received monthly payments of 8% of their salarie5 into a scheme admlnistered by NEST. One eligible staff member ha5 Opted out. Contributions made In the year are treated as an expense. Donations and legacies During the year the charity received grants and donations from the following- 2024 Total 2023 Total Unrestricted Restricted April Trust British Academy Fondation Liber Garfield Weston Foundation Harbour Foundation Mellon Foundation. Northern Consortium The Rob Granieri Fund Sir Joseph Hotung Charitable Settlement Springer Nature Texel Foundation Wellcome The Royal Sooety of Chemistry The Wolfson Foundatlon UKRI (for InspIUrope*l UK Universities Other institutions and trusts Individuals Legacies 20,000 7.534.417 20,000 7.584,417 15,000 5,981,464 20,000 50,000 5,000 656,354 50,000 i(y),000 loo,000 70,000 94,088 50.000 164,088 50,000 60,464 540,QOO 22.500 25,000 203,980 70,000 20.265 68.565 26,000 100,662 loo,000 loo.000 90.265 68,565 26,000 135,563 120,000 loo,000 28,684 4,748,915 209,635 88,105 34,901 20,000 loo,(0 57,367 4,366,357 134.163 103,812 5,Ot 57,367 549,050 2,055 59,513 4,199,865 207,580 28,592 912,886 12,650,034 13,562.920 12,346.461 'Known until April 2023 35 the Andrew W Mellon Foundation Unrestricted income includes donated goods and services valued at £nil12023: £nill.
COUNCIL FOR AT-RISK ACADEMICS IA Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For the yeèr ended 31st December 2024 Raising funds 2024 Totsl 2023 Total Unrestrlcted Restricted Online giving expenses Investment management costs Fundraising consultant 760 24,795 108.322 76Q 24.795 108.322 2.003 3,279 34, 720 133,877 133,877 40.002 4. Charitable artivities- Grants Payable Grants and Fellowshi The allocation of grants and programme-related expenditure during the year was as follows= 2024 Totsl 2023 Totol 2024 Fellows 2023 Fellow5 Unrestrrcted Restricted Fellowship Programme 222 221 14.691 5,023.486 5,038,177 4.786,237 Researchers at Risk 179 179 7,546,234 7,546,234 5,945,464 Syria Programme 358,610 358,610 508.309 14,691 12,928,330 12.943,021 11,240,010 5. Charitable artivitiès- Programme and project work 2024 Total 2023 Totul Support ¢osts'.- Unrestrirted Restricted Core costs Salaries (notes Ilblliil and 71 Legal fees Accountants. fees Campaign and awareness raising Office and general expenses Operating lease payments Inotè131 Depreciation (note 91 75,476 21.450 50,129 30,520 57,234 28,775 7.659 75,476 21,450 50,129 30,520 58.344 28,775 7,659 70.560 7,062 46,854 42,124 35,977 22.048 6,715 i.iio 271,243 I,iio 272,353 231,340 Fellowshi nds ria Pro rammes Salaries Inotes Ilblliil and 71 Pension costs Inote 71 Office and general expenses Operating lease payments Inote131 557.430 43,660 98.452 9,869 7,599 655,882 53,529 7.599 659.419 58.808 407 601,090 115.920 717010 718.634 Total programme and project work 98 21
COUNCIL FOR AT-RISK ACADEMICS IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For the year ended 31st December 2024 6. Charitable activities- Governance 2024 Total 2023 Total Unrestrirted Restrlcted Salaries (note5 Ilbllitl and 71 Council meetings and company expenses t)irectors' and Officers, Liability, insurance Legal fees AuditOTS' remuneratign.. Audit fees Accountancy fees 8,109 8.109 7,475 535 535 1.055 7,ICQ I,soo 7.100 1.500 6.650 1.500 Total governance costs 17.244 17.244 16,680 In cornmon with many other charitable companies of our slze and nature we use our auditor5 to assist in the preparation of the financial statements. 7. Staff costs and partlculars of employees Total remuneration of ernployees.. Salaries Ex eratia pension to forrner ernployee Social security Costs Pension contributions 2024 2023 2024 2023 Numbers Numbers 21 20 683,209 8,109 48,149 53,529 667,681 7,475 ' 62,453 58.808 22 21 792,996 796,417 Two employees12023- onel earned above £60.OOLI per annum. No trustee had any remuneration during the current or preceding year. No trustee {2023- none) was reimbursed for travel expenses {2023- £nil). There are no other related party transactions. Total annuallsed Costs relatlnÈ to Cara's key management personnel amounted to £221,00012023.' £244,000). The charitable company makes payments into approved pension funds. The a5set5 of the schemes are held separately from those of the charitable company in independently administered funds. The pension costs charge represents contributions payable by the charitable company to the funds and amounted to £53,529 (2023 £58,808). No contributions were outStandin8 or repayable {2023 Nil outstonding or repoyoblej to the funds at the year-end. Investment Income 2024 2023 Income from UK listed investments.. Fixed interest securities Equities Inierest from funds on deposit 1,862 7,305 385,390 1,029 5,460 111,383 394,557 117,872 22
COUNCIL FOR AT-RISK ACADEMICS IA Company Limitèd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl For the year ended 31st December 2024 9. Tan8ible fixed assÈts Furnlture Equipment Total Cost Balance at 1st January 2024 Additions Disposals 12,036 63,415 3,087 75,451 3.087 Balance at 31st December 2024 12,036 66.502 78.538 Accumulatedde reciotion Balance at 1st January 2024 Charge for the year 11,738 73 53.346 7,586 65.084 7,659 Balance at 31st December 2024 11,811 60,932 72,743 Net book value at 31st December 2024 225 5,570 5,795 Net book volue ot 31st December 2023 298 10,069 10.367 10. Flxed assets 2024 2023 Inve5tment5 Fixed interest securities and equities.. Balance at 1st January Additions at cost Disposal proceeds Realised Ilossll gain Unrèalised 8ain/llossl 6,339,784 316.634 1,450,665 6,043,791 1207,2401 (40,894J 17,098 (2,918) 7,413 23,171 Balance at 31st December 7,607.720 6,339,784 Cash held as part of investment portfolio:_ Investec Wealth & Investment Ltd cash account Investec Wealth & Investmenl Ltd deposit account 8.260 87.926 I,Q73 3,992 7.703,906 6.344.849 Fixed interest securities and equities held at 31st December 2024 were as follow5- 2024 Markèt Value 2023 Mt7rket Vtslue Investments listed on UK Stock Exchange Cost Cost Fixed interest securities Money market funds Equities 59,849 63,613 7,242,872 7,242.872 304,999 270.475 61.675 63,796 6,000,000 6,000,0(KI 278,109 252,641 7,607.720 7,576,960 6,339,784 6.316.437 23
COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For the year ended 31st December 2024 10. Fixed assets Icontinuedl The £7,242,872 held in two money market accounts are the only investments which exceed 5% of the value of the portfolio at the year-end. I l. Debtors 2024 2023 Sundry debtors Income tax due Oeferred ineome Prepayments Other debtors 292,346 5,000 143,325 1,776 3,624 198,330 318,305 2.460 1,170 446,071 525,265 12. Creditors.. Amounts falling due within one year 2024 2023 Other creditors Accruals Accrued fellowshlp and grant ¢ommltments Oeferred Income 88,410 364 27,364 12,322 2.867,753 2,722,459 6.430,492 6,208,516 9.414,019 8,943.661 Deferred income relates to funds held for the Researchers at Risk programrne, which are expectèd to be dlsbursed by 31 December 2026 and in the prior year also to funds held in respect of the Syria Programme which officially finished during the course of 2024. 13. Financial commitments In June 2015 the charitable company entered into a renewed ofFice operatin8 lease agreement with London South Bank University to run untFI 24, March 2018. The commitment due within one year is £29,760 (2023 - £28,800). Although renewal of this lease has been agreed In principle the charitable company is Still awaiting the terms at the date of sl@nlng these accounts and is therefore unable to dlsclose the total value of the future commitment. 24
COUNCIL FOR AT-RISK ACADEMICS IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For the year ended 31st December 2024 14. Unreali5ed 8ains Unrestrirted Funds 2024 Unrestricted Funds 2023 Total unreali5ed gain5 at 31st Dember On investrnent a55et5 (see note belowl 30.760 23,347 RetoncS1iation of movements in unrealised Èalns on Investment assets Unrealised gains at 1st January IDeductl/add in respect of gains crystallised in year Net gain arising on revaluation in the year 23,347 117,0981 24.511 176 2,918 20,253 Unreallsed galns arlslng on revaluatlon at 31 December 30.760 23,347 15. Total charity funds Balance at 1st January 2024 Incomirt Resource5 and Gains Transfers between Funds Resources Balance at Expended 31st December and Losses 2024 Unresirietèd furtds General reserve Revaluation reserve 591,938 23,347 1.324.541 7.413 11,038.1451 878.334 30,760 615.285 1,331,954 11.038.145) 909.094 Designated reserves= Regional prograrnme fund loo,000 Fundraising and development fund 50,000 100,000 50,000 765,285 1,331,954 11,038,145) 1,059.094 Restricted funds Fellowship programme Researcher5 at Risk Syria Programrne 193,127 4.993,896 7,546,234 109,904 15,032.1951 17,546,2341 1466,9311 154.828 399,647 42,620 592.774 12,650,034 113.045.3601 197A48 Total charlty funds 1.358,059 13,981,988 114,083,505) 1,256.$42 Represented by.. RestrScted Funds Designated Funds General Reserve Tanglble assets Investments Net current assets/lliabilities1 5,795 7,553,906 16.650,6071 150,000 197.448 197,448 150,000 9,094 Accounting policy notes IIQ and Ilgl give a descriptirin of the various funds shown above. Transfers are made as required from unrestricted funds to supplement programme spendin8 from the restricted funds. 25
COUNCIL FORAT-RISK ACADEMICS IA Company Llmited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For the year ended 31st December 2024 16. Reproduction of extract5 from 2023 3ttounts The following six tables record the accounts for the year ended 31 December 2023 to ensure compllance with FRS 102 in respett of full disclosure of cornparative figure5. l. Statement of Flnanclal Artivities Unrestrlcted Funds General Deslgnated Restricted Fund5 Total 2023 Income from.. Voluntary Income Donations and legacies Activities for Generating Fund5 Investment Income 968,815 11,377.646 12,346.461 117,872 117,872 Total income 1,086,687 11,377.646 12,464,333 Expendlture on: Raising funds Charitable activSt1es Grants payable Programme and project work Governance 39,559 443 40,002 11,240,010 11,240,010 169,649 949,974 16,680 780,325 16,680 Total expenditure 836,564 11.410.102 12.246,666 Transfer between funds lioo,0001 loo,000 Net gain5 on investments 20,253 20,253 Net incomel1expenditu? Other recognlsed galns I (losses) other 8ain51 Ilosses) 170,376 100,000 132,4561 237,920 Net movement In funds 170,376 I,000 132.4561 237.920 Reconciliation of Funds Total funds brouBht forward 444,909 50,000 625,230 1,120,139 Total funds carried forward 615,285 Iso.000 592,774 1,358,059 26
COUNCIL FOR AT-RISK ACADEMICS {A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For the year ended 31st December 2024 16. Reprodurtion of eKtrarts from 2023 accounts l¢ontinuedl Donations and legacies During the year the charity receiv grants and donations from the followin8- 2023 Total UnrÈ5tricted Restrirted April Trust British Academy Fondation Liber Garfield Weston Foundation Harbour Ftrundation Mellon Foundation. The Rob Granleri Fund Sirjoseph Hotun8 Charitable Settlement Springer Nature Texel Foundation 15,OLXI 5,931,464 20.0 50.0(X) 5,OCM) 590.354 60,464 470,OCM) 22,500 25,000 171,065 Is.000 5.981,464 20,000 50.000 50,000 66,000 656.354 60.464 540,000 22.500 25.000 203,980 loo,000 57,367 4,366,357 134,163 103,812 5,000 70,000 Wellcome The Wolfson Foundation UKRI Ifor Inspireurope+l UK Universities Other institutions and trusts Individuals 32,915 100,000 57,367 536.950 20,239 30,344 5.000 3,829,407 113,924 73,468 Legacy 968,815 11,377,646 12.346,461 'Known until April 2023 as the Andrew W Mellon Foundation Unrestricted income includes donated goods and services valued at Enll12023: £nill. 27
COUNCIL FOR AT-RISK ACADEMICS IA Company Limlted by Guaranteel NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For the year ended 31st December 2024 16. Reproductlon of extracts from 2023 accounts Icontinuedl Raising funds 2023 Unrestrirted Restritted Total Online giving expenses Investment managernent C05t5 Fundraising consultant 1.560 3,279 34,720 443 2,003 3,279 34,720 39,559 443 40,002 4. (haritable activities- Grants Payable restated Grants and Fellowshl The allocation of @iants and programrnè-related expenditure during the year was a5 follows.. 2023 Total Unrèstricted Restrlcted Fellowship Programme 4,786,237 4,786,237 Researchers at Risk Syria Programme 5,945,464 5,945,464 508,309 508,309 11,240,010 11,240,010 28
COUNCIL FOR AT-RISK ACADEMICS IA Company Limited by fjuaranteel NOTESTO THE FINANCIAL STATEMENTS Icontinuedl For the year ended 31st December 2024 Reprodurtion of extracts from 2023 accounts Icontinuedl Charitable activities- Programme and project work 2023 Total Support costs=_ Unrestrlrted Restricted Core costs Salaries Legal fees Accountants, fees Carnpaign and awareness raisin8 Office and general expenses Operating lease payments Depreclatlon 70,560 7,062 46,854 42,124 34,628 22,048 6.715 70,560 7,062 46,854 42,124 35,977 22,048 6.715 1.349 229,991 1,349 231,340 Fellowshi Salaries Pension costs Office and general expenses Operating lease payment5 ands ria Pro ramrnes 501.239 49.095 158.180 9,713 407 659,419 58.808 407 550,334 168,300 718,634 Total programme and project work 949 974 6, Charitable artivities- Governance 2023 Total Unrèstricted Restritttd Salaries (notes Ilblliil and 71 Council meeting5 and company expenses irectors, and Officers, Liability, insurance Legal fees Auditors. remuneration.. Audit fees Accountancy fèes 7,475 7.475 1,055 1.055 6,650 1.500 6,650 1.500 Total governan costs 16,680 16,680 29