Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Annual report and Financial statements
For the year ended 31 December 2023
Charity Number: 298375 (England and Wales)
Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Annual Report and
Financial Statements
For the Year Ended 31 December 2023
| CONTENTS | PAGE |
|---|---|
| Reference and Administrative details | 1 |
| Trustees’ Annual Report | 2 – 10 |
| Independent Examiners Report | 11 |
| Statement of Financial Activities | 12 |
| Balance Sheet | 13 |
| Statement of cash flows | 14 |
| Notes to the financial statements | 15 - 26 |
Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Reference and Administrative Details
Chairman Bassem Ziade Trustees Bassem Ziade, Chairman Dalia Salaam Rishani Edward Asseily Ghias El Yafi (resigned July 2023) James Watt (appointed July 2023) Youssef Khlat (resigned July 2023) Governors Alexandra Asseily Andrew Arsan Bassem Ziade Dalia Salaam Rishani Edward Asseily Ghias El Yafi Gilbert Doumit Haneen Sayed (appointed July 2023) Izzat Darwazeh James Watt Leila Buheiry (resigned July 2023) Peter El Hajj (appointed July 2023) Youssef Khlat (resigned July 2023) Senior Management Team Dr. Maha Shuayb, Director Prof. Cathrine Brun, Deputy Director for Research Rachel Saliba, Director of Operations Principal Office Faculty of Education, 184 Hills Road, Cambridge, CB2 8PQ Charity Registration Number 298375 Independent Examiner Michael Hewett FCA DChA Peters Elworthy & Moore Salisbury House Station Road Cambridge CB1 2LA
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Trustees’ Annual Report For the Year Ended 31 December 2023
The Trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023. The Trustees confirm that the Annual Report and financial statements comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objects and aims
The Centre for Lebanese Studies is an independent academic research institution, which seeks to promote international understanding of Lebanon and the issues facing it, by undertaking high quality independent research and encouraging discussion and learning through lectures, conferences, workshops, and publications. The Centre also seeks to inform policymakers and make recommendations based on research findings in connection with issues facing Lebanon.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and in particular to its two key principles, that there must be identifiable benefit and that the benefit must be to the public or a section of the public. The Trustees are satisfied that the activities and purpose of the Centre, as described above and in the accompanying financial statements, fully meet the public benefit requirements.
ACHIEVEMENTS AND PERFORMANCE
The Centre for Lebanese Studies continues its focus on 4 main research themes: Education, refugees, disability, and social movements. On the theme of education , CLS has produced and published various reports and publications related to the comparative and longitudinal study in Lebanon, Turkey and Australia, that examine the impact of settlement and education provisions in different settings on the education progression of refugee children over a five-year period, funded by the Spencer Foundation. The project was completed in December 2023.
The British Academy Bi-Lateral Chair project aims to engage with issues related to refugee education globally. It aims to decenter theorizing about refugee education and education in emergencies, ensuring that the experiences of teachers, students and communities in the Global South set the agenda for their education planning and implementation. Various events, such as summer schools in Lebanon and Cambridge, as well as webinars and workshops, were conducted. Additionally, articles were published in academic journals, and various reports were published on the CLS website. Six research fellows were also recruited as part of the project.
The CLS was granted a new project entitled Education Research in Conflict and Protracted Crisis (ERICC) funded by the FCDO and led by International Rescue Committee. Between October and December 2023, the research team carried out a country scan to understand the evidence gap and data systems, identify relevant stakeholders, and develop strategies for collecting evidence that will inform education policy and practice.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Trustees’ Annual Report For the Year Ended 31 December 2023
The Centre for Lebanese Studies continues its focus on 4 main research themes: Education, refugees, disability, and social movements. On the theme of education , CLS has produced and published various reports and publications related to the comparative and longitudinal study in Lebanon, Turkey and Australia, that examine the impact of settlement and education provisions in different settings on the education progression of refugee children over a five-year period, funded by the Spencer Foundation. The project was completed in December 2023.
The British Academy Bi-Lateral Chair project aims to engage with issues related to refugee education globally. It aims to decenter theorizing about refugee education and education in emergencies, ensuring that the experiences of teachers, students and communities in the Global South set the agenda for their education planning and implementation. Various events, such as summer schools in Lebanon and Cambridge, as well as webinars and workshops, were conducted. Additionally, articles were published in academic journals, and various reports were published on the CLS website. Six research fellows were also recruited as part of the project.
Grant-raising
The Centre’s main income is from grants received from charities, academic institutions, think-tanks, and national and international development agencies. In addition, the Centre separately received donations for scholarships and bursaries from CLS trustees.
The Director of the Centre identifies suitable funding opportunities and works with a potential grantee to explore and develop a funding proposal. The trustees are informed of such proposals as well as new grants at regular intervals.
Based on the Centre’s strategy that is formulated with the trustees, the CLS currently focuses on four major themes: education, migration/refugees, social movements, and disability. Proposals for grants are aligned to these themes and include activities such as research, publications, seminars, policy briefs, among others.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Trustees’ Annual Report For the Year Ended 31 December 2023
FINANCIAL REVIEW
Review of charity’s financial position at the end of the reporting period
The Centre made a deficit for the year of $15,748 (2022: Deficit of $446,327), in line with expectations. The Centre continues to grow and is financially stable as reflected in the balance sheet, with income received in advance available in cash, which allows current financial obligations and committed projects to be completed as planned.
Reserves
The Centre manages its cashflows very closely. A rolling 12-month forward looking forecast is conducted and revised on a quarterly basis, and a detailed budget review is conducted once every year. With that, we ensure that all commitments to grantees, contractors, and employees are within a good level of confidence.
At the year end the Centre had total reserves of $20,892 (2022: $36,640), none of which were restricted (2022: $32,572). Unrestricted funds were in a surplus of $20,892 (2022: $4,068). The Centre has no fixed reserve requirement, but Trustees regularly review the balance of funds.
Principal risks and uncertainties
The main risks facing the charity are:
-
Banking system and financial instability in Lebanon. Likelihood: High – Trustees and the Operations team keep a very close eye on new laws and decrees. Risk is substantially mitigated by grants being received in foreign currency and maintaining a maximum of one-month of local expenditures in Lebanon.
-
Retention of core staff. Likelihood: Medium – Core staff are usually budgeted and hired on project basis, and until new funding is awarded, they are not receiving pay. The trustees took a decision to ensure that core staff are retained for short bridging periods in-between projects, if the charity’s financial resources permit it.
-
Regional and local security risks: High – With the ongoing war in Gaza and the recent extension of the conflict into Lebanon, there is a security risk. However, banks continue to operate normally.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Trustees’ Annual Report For the Year Ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Nature of governing document
The Centre is a registered charity, number 298375 governed by a trust deed dated 22nd December 1987. It is governed by the trustees through regular meetings.
Trustees must be appointed by a majority vote of the governors, from the existing pool of governors. At every annual general meeting, existing trustees may either be reappointed or retire. Furthermore, the Board of Trustees elect from their number a Chairman and a Treasurer.
Once appointed, new trustees are inducted and receive a set of the trust’s governance documents as well as guidance on the role of the trustee:
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Trust deed of the Centre for Lebanese Studies
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Charity Governance Code for larger charities
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Organisational Chart of the CLS
-
Strategy, aims and objectives of CLS
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Bi-annual report that the Operation Team at CLS prepares for the trustees.
Relation between charity and related parties
The CLS operates in Lebanon through a local NGO called “Education Development Centre in Lebanon” (EDC). EDC was established in 2019 to enable the CLS to operate legally and to hire local research and administrative staff in Lebanon. EDC and CLS operate as one organisation and have a shared governance structure and policies as well as an integrated management, research and operational team.
Organisational structure
The Centre is managed by the Director, Dr. Maha Shuayb. She has two direct reports, 1) Director of Operations, Rachel Saliba, who is responsible for managing all operational activities of the Centre in all its locations, and 2) Deputy Director for Research, Dr. Cathrine Brun, who oversees all the research activities within the Centre. Dr. Shuayb reports directly to the Chairman, acting on behalf of the Trustees and Board of Governors.
Each project is managed by a project manager/Senior researcher who reports to the Director of Operations for administrative, financial, and communication matters and to the Director of Research for research and academic matters. He/she leads their respective team of junior researchers, research consultants, and research assistants.
The core operational team consists of 3 main departments: Finance, Administrative, and Communication. The Finance department consists of a part-time Finance Manager who oversees the work of the full-time Finance Officer. A Project Coordinator leads on the administrative and logistical tasks with the assistance of an Administration Assistant. The Senior Media and Communications Specialist is assisted by a Communications Officer and a Graphic designer.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Trustees’ Annual Report For the Year Ended 31 December 2023
Most of the researchers are contractors recruited for the term of the relevant project. They are all high-quality academic researchers that are recruited for their domain expertise. The majority of the staff of CLS and all the researchers hired to work on the ground in Lebanon are employed or contracted by EDC, which is an affiliate of CLS registered in Lebanon, for local legal, tax, and regulatory reasons.
Decision making
Trustees have independent control over, and legal responsibility for, a charity’s management and administration. Under UK law, they have a duty to:
-
Comply with CLS’s governing document and the law
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Act in the charity’s best interests
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Manage the charity’s resources responsibly
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Act with reasonable care and skill
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Ensure the charity is accountable
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Ensure the charity is carrying out its purposes for the public benefit
The Chairman of the Trustees of CLS and EDC is responsible for ensuring the proper operation of the Board of Trustees, including:
-
Convening the necessary meetings
-
Chairing them
-
Ensuring they are properly minuted
-
Overseeing compliance with reporting requirements.
He/she is a bank signatory. He/she will maintain direct personal contact with the Director and serve as her/his line manager.
The Treasurer (who is also a Trustee) is responsible for reporting to the Board on financial matters. He/she is also a bank signatory.
The Treasurer is responsible at Board level for leading on:
-
Making sure the charity keeps proper accounts
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Reviewing the charity’s financial performance
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Ensuring that the charity has robust and effective financial controls in place
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Liaising with finance staff, the Accountant and the auditors
The Secretary (who is also a Trustee) is responsible at Board level for matters concerning staff employment, welfare and discipline. He/she may also be a bank signatory.
Other Trustees may also be appointed, one of whom could serve as Vice-Chairman.
Collectively, the Trustees are responsible for Board decisions. The Trustees will normally meet with the Director taking part in the meeting, but on occasions will meet on their own.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Trustees’ Annual Report For the Year Ended 31 December 2023
Decisions reserved for approval by the Board of Trustees:
-
Appointment or variation in terms of Director and Senior Managers
-
Changes and material deviations from strategy
-
Policies and material exceptions to policies
-
Creation or closing of offices, branches, legal entities
-
New and material changes to existing institutional partnerships or close collaborations
-
Financial commitments outside of approved project budgets that are greater than 10,000$
-
Anything that could reasonably conflict with the Centre’s purpose or adversely affect its reputation
-
Appointment of auditors and legal advisors
The Role of the Director of CLS and EDC
Subject to the decisions reserved by the Board of Trustees, the Director has full executive and operational responsibility for the charities, in both management and academic terms, reporting to the Board and seeking advance approval of major changes of activity, policy or structure. He/she is supported by a Director of Operations and Deputy Directors of Research.
Meetings
The board of governors meet twice a year.
The board of trustees meet two to four times a year with the Director of the Centre, the Director of Operations, and the Deputy Director of Research. A quarterly forecast is submitted to the Chairman and Treasurer, and an update on progress is submitted to the Board of Trustees every 6 months.
Arrangements for setting the pay and remuneration of the charity’s key management personnel and any benchmarks in setting pay
A salary scale is in place, which is reviewed from time to time, and used to guide the pay of all staff at CLS. Salaries and contractor rates are benchmarked to those of academic researchers, universities and thinktanks by taking into account the position (level of seniority), years of experience, location, and educational level of employees. We also take into account length of contract, and whether it is a full time or short term contract. The Centre aims to attract among the best academic researchers in their field, and this is reflected within its competitive compensation.
Plans for future period
CLS continues its research on the themes of education, refugees, disability and social movement. The Director and Trustees will continue to review the evolving situation in Lebanon and the wider region and respond accordingly both in terms of research and operations.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Statement of Trustees’ Responsibilities For the Year Ended 31 December 2023
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees 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 incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP
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make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Additionally, trustees acknowledge their responsibility to identify, assess, and manage risks. The major risks related to the Centre that include the current uncertain and unstable financial situation in Lebanon as been reviewed and assessed and the necessary internal processes have been set up to manage those risks.
Approved by the trustees of the charity and signed on its behalf by:
Bassem Ziade Chairman and Trustee
Date: 30 October 2024
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Independent Examiner’s Report For the Year Ended 31 December 2023
Independent Examiner's Report to the Trustees of Centre for Lebanese Studies ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Association of Chartered Accountants, which is one of the listed bodies.
I have completed by examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect;
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Michoe| Hewett Date: 31 October 2024
M Hewett FCA DChA Peters Elworthy and Moore
Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Statement of Financial Activities For the Year Ended 31 December 2023
| Notes Income from: Donations and legacies 2 Charitable activities 3 Investment income 4 Total income Expenditure on: Charitable activities 5, 6 Total expenditure Net income / (expenditure) Transfers between funds Net movement in funds 16 Reconciliation of funds: Total funds brought forwards 16 Total funds carried forward 16 |
Restricted funds 2023 $ - 1,124,818 - 1,124,818 1,156,926 1,156,926 (32,108) (464) (32,572) 32,572 - |
Unrestricted funds 2023 $ 86,905 5,544 13 92,462 76,102 76,102 16,360 464 16,824 4,068 20,892 |
Total 2023 $ 86,905 1,130,362 13 1,217,280 1,233,028 1,233,028 (15,748) - (15,748) 36,640 20,892 |
Total 2022 $ 119,452 1,023,597 - |
|---|---|---|---|---|
| 1,143,049 | ||||
| 1,589,376 | ||||
| 1,589,376 | ||||
| (446,327) - |
||||
| (446,327) 482,967 |
||||
| 36,640 |
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 14 to 25 form part of these financial statements.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Balance Sheet As at 31 December 2023
| 2023 | 2023 | 2022 | |||
|---|---|---|---|---|---|
| $ | $ | $ | $ | ||
| Notes | |||||
| FIXED ASSETS | |||||
| Intangible fixed assets | 11 | - | - | ||
| Tangible fixed assets | 12 | - | - | ||
| - | - | - | |||
| CURRENT ASSETS | |||||
| Debtors | 13 | 99,336 | 21,310 | ||
| Cash at bank | 264,573 | 294,698 | |||
| 363,909 | 316,008 | ||||
| CREDITORS:Amounts falling due within one year |
14 | (343,017) | (279,368) | ||
| NET CURRENT ASSETS | 20,892 | 36,640 | |||
| NET ASSETS | 20,892 | 36,640 | |||
| FUNDS | |||||
| Restricted funds | 16 | - | 32,572 | ||
| Unrestricted funds | 16 | 20,892 | 4,068 | ||
| TOTAL FUNDS | 20,892 | 36,640 |
These financial statements were approved by the trustees and authorised for issue and signed on their behalf by:
………………………………..
Bassem Ziade Chairman and Trustee Date: 30 October 2024
The notes on pages 14 to 25 form part of these financial statements.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Statement of Cash Flows For the Year Ended 31 December 2023
| CASH FLOWS FROM OPERATING ACTIVITIES Notes Net cash used in operating activities 18 CASH FLOWS FROM INVESTING ACTIVITIES Dividends, interest, and rents from investments NET CASH FROM IN INVESTING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES NET CASH PROVIDED BY FINANCING ACTIVITIES CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR Cash and cash equivalents at the beginning of the year CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR The notes on pages 14 to 25 form part of these financial statements. |
2023 $ (30,138) |
2022 $ (380,814) |
|---|---|---|
| 13 | - | |
| 13 | - | |
| - | - | |
| (30,125) 294,698 |
(380,814) 675,512 |
|
| 264,573 | 294,698 | |
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts For the Year Ended 31 December 2023
1. Accounting policies
A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below.
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) (Second edition October 2019 - effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Centre for Lebanese Studies meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Functional and presentational currency
The charity’s functional currency is USDs and the presentational currency is USDs. The accounts were previously prepared in GBP, this change has therefore been applied retrospectively in order to bring comparatives in line.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received, and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable, and the amount can be reliably measured.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts For the Year Ended 31 December 2023
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustee’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £1,000 or more are initially recorded at cost.
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Furniture and equipment 33% Reducing balance
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Funds
Unrestricted income funds are general funds that are available for use at the trustee’s discretion in furtherance of the objectives of the charity.
Restricted income funds are subject to specific conditions by the donor as to how they may be used.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts
For the Year Ended 31 December 2023
2. INCOME FROM DONATIONS AND LEGACIES
| Donations and gifts Trusts, foundations, and grants Gift Aid |
Restricted funds 2023 $ - - - - |
Unrestricted funds 2023 $ 86,905 - - 86,905 |
Total Funds 2023 $ 86,905 - - 86,905 |
Total Funds 2022 $ 119,452 - - |
|---|---|---|---|---|
| 119,452 |
In 2022 all income was to unrestricted funds.
3. INCOME FROM CHARITABLE ACTIVITIES
| Research grants Other charitable activities |
Restricted funds 2023 $ 1,124,818 - 1,124,818 |
Unrestricted funds 2023 $ - 5,544 5,544 |
Total Funds 2023 $ 1,124,818 5,544 1,130,362 |
Total Funds 2022 $ 1,011,389 12,208 |
|---|---|---|---|---|
| 1,023,597 |
4. INVESTMENT INCOME
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | Funds | Funds | |||
| 2023 | 2023 | 2023 | 2022 | |||
| $ | $ | $ | $ | |||
| Investment income | - | 13 | 13 | - | ||
| - | 13 | 13 | - |
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts For the Year Ended 31 December 2023
5. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES – BY FUND
| Research Total 2022 |
Restricted Funds 2023 $ 1,156,926 1,156,926 562,949 |
Unrestricted Funds 2023 $ 76,102 76,102 1,026,427 |
Total Funds 2023 $ 1,233,028 1,233,028 1,589,376 |
Total Funds 2022 $ 1,589,376 |
|---|---|---|---|---|
| 1,589,376 | ||||
6. ANALYSIS OF EXPENDITURE BY ACTIVITIES
| Research Total 2022 |
Grant funding (note 7) 2023 $ 42,627 42,627 114,238 |
Direct costs 2023 $ 1,174,629 1,174,629 1,452,058 |
Support costs 2023 $ 15,772 15,772 23,080 |
Total Funds 2023 $ 1,233,028 1,233,028 1,589,376 |
Total Funds 2022 $ 1,589,376 |
|---|---|---|---|---|---|
| 1,589,376 | |||||
Page | 17
Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts For the Year Ended 31 December 2023
6. ANALYSIS OF EXPENDITURE BY ACTIVITIES (continued)
ANALYSIS OF DIRECT COSTS
| ANALYSIS OF DIRECT COSTS | ||
|---|---|---|
| Staff costs (Note 10) Research fees Project costs Translation and editing Travel Communications Other direct costs Foreign exchange (gain) / loss |
2023 $ 296,919 281,554 585,952 6,000 7,172 - 13,158 (16,126) 1,174,629 |
2022 $ 247,695 185,333 896,675 12,173 6,288 3,581 16,578 83,735 |
| 1,452,058 |
| ANALYSIS OF SUPPORT COSTS Other miscellaneous expenses Subscriptions, advertising and website Travel and accommodation Accountancy and audit Bank charges |
2023 $ 60 1,772 11,551 676 1,763 15,772 |
2022 $ 265 4,336 10,895 4,248 3,336 |
|---|---|---|
| 23,080 |
Included in support costs are governance costs of $676 (2022: $4,248), which represent fees payable to the Charity’s independent examiner for the independent examination and preparation of the annual accounts.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts
For the Year Ended 31 December 2023
7. GRANTS PAYABLE
| Scholarships Total 2021 |
Grants to institutions 2023 $ - - 63,468 |
Grants to individuals 2023 $ 42,627 42,627 50,770 |
Total Funds 2023 $ 42,627 42,627 114,238 |
Total Funds 2022 $ 114,238 |
|---|---|---|---|---|
| 114,238 | ||||
Grants to individuals consists of scholarship grants paid out to four individuals.
Grants to institutions consist of scholarship grants and living expenses paid to individuals via their academic institution. During the year, the following payments were made to institutions:
Kings College University: $NIL (2022: $41,309) University College of London: $NIL (2022: $22,159)
8. TRUSTEES REMUNERATION AND EXPENSES
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year (2022: $Nil).
No trustees have received any reimbursed expenses or any other benefits from the charity during the year (2022: $Nil).
9. TAXATION
The Charity is a registered charity and is therefore exempt from taxation.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts For the Year Ended 31 December 2023
10. EMPLOYEES
The payroll costs were as follows:
| Wages and salaries Social security costs Pension costs |
2023 $ 256,057 30,924 9,938 296,919 |
2022 $ 211,081 27,211 9,402 247,695 |
|---|---|---|
The average monthly number of full time and part time employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| UK staff | 3 | 2 |
The number of employees whose employee benefits (excluding employer’s pension costs) were £60,000 or more was:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| $73,688 – $85,970 / £60,001 to £70,000 | - | 1 |
| $85,971 / $98,250 / £70,001 to £80,000 | 1 | - |
| $122,814 - $135,094 / £100,001 to £110,000 | 1 | 1 |
Key management personnel are defined as the Senior Management Team, incorporating the Managing Director, Director of Operations, and Deputy Director for Research.
The total employment benefits paid to key management personnel (including pension contributions) during the year were $257,055 (2022: $247,695).
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts For the Year Ended 31 December 2023
11. INTANGIBLE ASSETS
| 2023 | |
|---|---|
| $ | |
| Archives | |
| Cost | |
| At 1 January 2023 | 17,307 |
| Additions | - |
| Disposals | - |
| At 31 December 2023 | 17,307 |
| Accumulated amortisation | |
| At 1 January 2023 | 17,307 |
| Charge for the year | - |
| Disposals | - |
| At 31 December 2023 | 17,307 |
| Net Book Value | |
| At 1 January 2023 | - |
| At 31 December 2023 | - |
12. TANGIBLE ASSETS
| 2023 | |
|---|---|
| $ | |
| Furniture & | |
| equipment | |
| Cost | |
| At 1 January 2023 | 63,079 |
| Additions | - |
| Disposals | - |
| At 31 December 2023 | 63,079 |
| Accumulated amortisation | |
| At 1 January 2023 | 63,079 |
| Charge for the year | - |
| Disposals | - |
| At 31 December 2023 | 63,079 |
| Net Book Value | |
| At 1 January 2023 | - |
| At 31 December 2023 | - |
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts For the Year Ended 31 December 2023
13. DEBTORS
| 2023 $ Other debtors 37,463 Prepayments and accrued income 61,873 Total debtors 99,336 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 $ Accruals - Deferred income (note 15) 343,017 Total creditors 343,017 |
2022 $ 784 20,526 21,310 2022 $ 4,248 275,120 |
|
|---|---|---|
| 279,368 |
15. DEFERRED INCOME
| At 1 January 2023 Deferred in the year Amounts used At 31 December 2023 |
$ 275,120 343,017 (275,120) |
|---|---|
| 343,170 |
Deferred income represents restricted grant income received in advance.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts For the Year Ended 31 December 2023
16. FUNDS AND RESERVES
| CURRENT YEAR Restricted funds – Research projects Unrestricted funds PRIOR YEAR Restricted funds – Research projects Unrestricted funds |
Balance at 1 January 2023 $ 32,572 4,068 36,640 Balance at 1 January 2022 $ 113,814 369,153 482,967 |
Incoming resources $ 1,124,818 92,462 1,217,280 Incoming resources $ 481,707 661,342 661,342 |
Resources expended $ (1,156,926) (76,102) (1,233,028) Resources expended $ (562,949) (1,206,427) (1,026,427) |
Transfers $ (464) 464 - Transfers $ - - - |
Balance at 31 December 2023 $ - 20,892 |
|---|---|---|---|---|---|
| 20,892 | |||||
| Balance at 31 December 2022 $ 32,572 4,068 |
|||||
| 36,640 |
Restricted funds – Research projects represent individual grants received for restricted projects. Amounts unspent on these grants are carried forward to be spent in line with the restrictions in future years.
Transfers – Transfers between funds represent foreign exchange differences or overspends on restricted grant funded projects met by unrestricted funds.
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts For the Year Ended 31 December 2023
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted funds 2023 $ Tangible assets - Current assets 20,892 Current liabilities 20,892 Unrestricted funds 2022 $ Tangible assets - Current assets 63,436 Current liabilities (59,368) 4,068 |
Restricted funds 2023 $ - 343,017 (343,017) - Restricted funds 2022 $ - 252,572 (220,000) 32,572 |
Total 2023 $ - 363,909 (343,017) |
|---|---|---|
| 20,892 | ||
| Total 2022 $ - 316,008 (279,368) |
||
| 36,640 |
18. RECONCILIATION OF NET MOVEMENTS IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the year ADJUSTMENTS FOR: Depreciation charges Dividends, interest, and rents from investments (Increase) / decrease in debtors Increase / (decrease) in creditors NET CASH USED IN INVESTING ACTIVITIES |
2023 $ (15,748) |
2022 $ (446,327) |
|---|---|---|
| - - (78,026) 63,649 |
- - (125) 65,638 |
|
| (30,138) | (380,814) |
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Docusign Envelope ID: B6AA61ED-D1E1-460A-83FE-B57255E0E8C6
Centre for Lebanese Studies
Notes to the accounts For the Year Ended 31 December 2023
19. ANALYSIS OF CHANGES IN NET DEBT
| Cash at bank and in hand |
At 1 January 2023 $ 294,698 294,698 |
Cashflows $ (30,125) (30,125) |
At 31 December 2023 $ 264,573 |
|---|---|---|---|
| 264,573 |
20. RELATED PARTY TRANSACTIONS
During the year, transfers amounting to $585,952 (2022: $869,794) were paid to an affiliated NGO entity Education Dev. Center in Lebanon, established to hire local staff and enable CLS to fulfil its objectives.
During the year, donations amounting to $86,905 were received from two trustees to then be paid out as scholarships (2022: two trustees amounting to $119,452).
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