Registration number: 06679925

International Prize for Arabic Fiction

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

International Prize for Arabic Fiction

Company Information

Director

Yasir Malley

Registered office

11a Harbut Road London SW11 2RA

Accountants

Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 0RB

International Prize for Arabic Fiction

(Registration number: 06679925)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Current assets
Debtors	4	26,982	18,379
Cash at bank and in hand		1,175,616	1,376,007
		1,202,598	1,394,386
Creditors: Amounts falling due within one year	5	(335,626)	(411,207)
Net assets		866,972	983,179
Reserves
Retained earnings		866,972	983,179
Surplus		866,972	983,179

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 June 2026
 

......................................... Yasir Malley Director

International Prize for Arabic Fiction

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a company limited by guarantee, incorporated in Engalnd and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.

The address of its registered office is:
11a Harbut Road
London SW11 2RA

These financial statements were authorised for issue by the director on 1 June 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity; and when the service is performed, if the service straddles more than one accounting period, income is recognised on a pro rata basis.

International Prize for Arabic Fiction

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Grants receivable

Grants are recognised when the company has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

International Prize for Arabic Fiction

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4

Debtors

	2025 £	2024 £
Prepayments	26,982	18,379
	26,982	18,379

5

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Accruals and deferred income	335,626	411,207

6	Related party transactions

Summary of transactions with other related parties

E Smith
(Director & Secretary)

During the year, the director paid for expenses of £17,314 (2024: £25,465) on behalf of the company, which was repaid during the year end. They also received freelance fees of £22,000 (2024: £22,000). At the end of the year, the director is owed £nil (2024: £nil).

Y Malley
(Director)

During the year, the director paid for expenses of £11,618 (2024: £6,616) on behalf of the company, which was repaid during the year end. At the end of the year, the director is owed £nil.