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REGISTERED COMPANY NUMBER: 05713430 (England and Wales)

REGISTERED CHARITY NUMBER: 1114343

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 August 2025

for

Friends of Palestinian Universities

| Friends of Palestinian Universities |

Contents of the Financial Statements

for the Year Ended 31 August 2025

| Page |

| Reference and Administrative Details | 1 |

| Report of the Trustees | 2 |  | to |  | 4

| Independent Examiner's Report | 5 |

| Statement of Financial Activities | 6 |

| Balance Sheet | 7 |

| Notes to the Financial Statements | 8 |  | to |  | 15

| Friends of Palestinian Universities |

Reference and Administrative Details

for the Year Ended 31 August 2025

| TRUSTEES | Dr A Shalan

| Dr M Masri

| Dr M Quato

| Ms S Hamrouni

| Dr H Murray

| A Najar

| COMPANY SECRETARY | O Shweiki

| REGISTERED OFFICE | 1 Gough Square

| London

| EC4A 3DE

| REGISTERED COMPANY NUMBER | 05713430 (England and Wales)

| REGISTERED CHARITY NUMBER | 1114343

| INDEPENDENT EXAMINER | Dial Square Associates Limited

| Chartered Accountants

| 9 St George's Yard

| Farnham

| Surrey

| GU9 7LW

| SOLICITORS | Thomas Eggar

| The Corn Exchange

| Baffins Lane

| Chichester

| West Sussex

| PO19 1GE

| BANKERS | Unity Trust Bank plc

| Nine Brindley Place

| Birmingham

| B1 2HB

| COIF Charity Deposit Fund

| 80 Cheapside

| London

| EC2V 6DZ

| Friends of Palestinian Universities (Registered number: 05713430) |

Report of the Trustees

for the Year Ended 31 August 2025

The Trustees present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, the Companies Act 2006 and "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) (issued in October 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Friends of Palestinian Universities (formerly The Friends of Birzeit University of Palestinian Universities was established in 1978, registered with the Charity Commission in 1979 and subsequently incorporated as a company limited by guarantee in 2006. Friends of Palestinian Universities is governed in accordance with its Memorandum and Articles of Association.

Trustees, who are also directors of the company, are appointed for a 3-year term that may be renewed. When considering new trustees, desired skills and experience are assessed prior to a meeting between board members and the potential trustee. New trustees are inducted to the work and ethos of the charity. The Board of Trustees meets at least 4 times a year. Day-to-day management is delegated to the Director, who is accountable to and supervised by the Board.

The major risks to which the charity is exposed, as identified by trustees, are regularly reviewed and systems established to mitigate those risks. The major risks facing Friends of Palestinian Universities are:

- financial performance, notably continuity of incoming funds to sustain operations;

- availability of expertise and resources for day to day operations;

- operational performance, including bank de-risking and risks to staff when operating in a conflict zone;

- the profile and reputation of the Charity.

OBJECTIVES AND ACTIVITIES

Friends of Palestinian Universities objects are to "promote the advancement of education of Palestinians seeking educational opportunities at higher education institutions and/or through educational, community or cultural programmes in such ways as the Directors see fit."

The charity is extending opportunities and providing access to education to young Palestinians at educational institutions in the West Bank and Gaza.

The principal strands of activities carried out by Friends of Palestinian Universities for the public benefit are:

- Academic scholarships: supporting Palestinian students in financial need through scholarships and a hardship fund;

- Building Higher Education Links: facilitating links and understanding between UK and Palestinian students, educators and higher education in stitutions;

- Advocacy and Awareness: raising awareness in the UK amongst the higher education sector, government officials, parliamentarians, diplom ats and the general public, of the barriers to education for Palestinians.

The Trustees have paid due regard to guidance issued by the Charity Commission regarding public benefit in deciding what activities the charity should undertake.

| Friends of Palestinian Universities (Registered number: 05713430) |

Report of the Trustees

for the Year Ended 31 August 2025

ACHIEVEMENTS AND PERFORMANCE

Academic Scholarships

The scholarship programme comprises scholarships at Birzeit University, and joint Friends of Palestinian Universities-UNRWA scholarships for Palestinian refugee students. Scholarships are provided on the basis of financial need and academic merit.

The scholarship programme in Gaza, delivered in partnership with UNRWA, was temporarily suspended as a result of the outbreak of war in October 2023. The destruction of the university campuses halted teaching for most of the academic year, only to be resumed in the Spring.

Friends of Palestinian Universities endowments are:

- Adela Every Scholarship: funds a female student from villages or refugee camps.

- Doreen Ingrams Scholarship: funds one or more female students with special needs.

- Peter Holliday Scholarship: funds female students facing financial hardship.

Friends of Palestinian Universities also runs multi-year scholarships supported by sponsoring donors. Multi-year scholarships typically cover tuition fees and a scholarship administration fee. Sponsoring donors are consulted on specific requirements such as: gender, place of residence, academic record, faculty or subject, special needs. Sponsors are kept informed of their students' progress through personal student statements and academic reports.

A Hardship Fund is also in place to provide scholarships or alternatively, small grants to cover books, accommodation, transportation and housing, or subsidies students tuition fees at Birzeit University.

In 2024/25, Friends of Palestinian Universities provided 20 undergraduate scholarships and one masters scholarships to a students at Birzeit University through its partnership with Birzeit University and Welfare Association. We also continued to support three scholars in Gaza through our partnership with UNRWA.

Advocacy & Awareness

Friends of Palestinian Universities Advocacy & Awareness programme in 2024/25 focused on building understanding of the devastating impact of the war on Gaza on Palestinian higher education, while amplifying the voices of Palestinian academics, students and university leaders. We worked to communicate a core message: despite the destruction of campuses, infrastructure and academic life in Gaza, Gaza's universities continue to exist and require sustained institutional support. Through our "Our Universities Live On" series, public briefings, articles, blogs, webinars and social media content, we highlighted the resilience of students and staff continuing to teach, learn and research under extreme conditions.

During the year, Friends of Palestinian Universities played a leading role in convening and informing the UK higher education sector response. We participated actively in the UK Higher Education Humanitarian Working Group on Gaza alongside representatives Universities UK International, CARA, the British Council and university leaders, and helped advance discussions on coordinated sector-wide support. We also supported direct engagement between Gaza's university leadership and UK higher education institutions, including a meeting co-convened with Universities UK International where the Presidents of Gaza's non-profit universities addressed UK Vice-Chancellors and senior university representatives. Friends of Palestinian Universities also continued to facilitate and promote the work of the Emergency Committee of Universities in Gaza as the representative body of the higher education sector in Gaza.

The programme included a wide range of public and sector-facing activity, including webinars in the Education, Occupation & Liberation series, co-convened with UCU, briefings on scholasticide and the Emergency Committee, parliamentary and university events, contributions to conferences in the UK and internationally, and the co-organisation of a major education conference on "Responding to Scholasticide in Gaza" with UKFIET. Friends of Palestinian Universities also launched a research project on 'scholasticide' with international scholars of education.

Building Higher Education Links

Friends of Palestinian Universities Building Higher Education Links programme in 2024/25 focused on strengthening institutional partnerships and exchange between Palestinian and UK universities and faculty, with a particular emphasis on supporting Gaza's higher education sector through the Emergency Committee of Universities in Gaza. We continued to provide direct support to the Committee, including convening regular strategy meetings, preparing briefings on emerging policy developments, and developing practical models for institutional collaboration. Alongside this, we advanced sector-wide engagement by supporting the representation of the Committee in international fora and contributing to its initiatives mobilising assistance to Gaza's non-profit universities in Gaza.

| Friends of Palestinian Universities (Registered number: 05713430) |

Report of the Trustees

for the Year Ended 31 August 2025

A major milestone in the year was the development and launch of Partnerships with Palestine: A practical guide to UK-Palestinian higher education institutional collaboration, produced with partners at the University of Bristol and the University of Oxford. The guide has been widely promoted across the UK higher education sector and has informed the development of new partnerships and proposed mechanisms for UK university coordination in support of Palestinian higher education. Friends of Palestinian Universities also supported and promoted the expansion of virtual fellowship and research collaboration models, with programmes established at the University of Bristol, the University of St Andrews and under development at other institutions. Through initiatives such as the PALS Fellowship Programme and targeted partnership development with institutions including UCL and Oxford, the programme has contributed to building sustainable, institution-led links that support teaching, research and academic exchange in line with the priorities of Palestinian universities.

FUTURE PLANS

In the coming year, the Trustees will focus on strengthening the charity's capacity to deliver its objectives at a time of significant need. This will include modest expansion of staff capacity to support programme delivery, partnerships and fundraising, alongside a planned rebranding to reflect the organisation's sector-wide focus.

A key priority will be to support more coordinated engagement across the UK higher education sector in response to the crisis facing Gaza's universities. The charity will work with partners to mobilise institutional resources, develop partnerships and promote approaches that strengthen Palestinian higher education institutions. This will be accompanied by continued efforts to raise awareness of the challenges facing Palestinian higher education, including through research, public engagement and sector-facing guidance.

Alongside this, the Trustees will focus on advancing a sustainable fundraising strategy to diversify income and support the charity's long-term work. A review of the scholarship programme will also be undertaken to ensure it remains relevant and aligned with the evolving needs of the Palestinian higher education sector.

FINANCIAL REVIEW

Friends of Palestinian Universities recorded an income over expenditure of £71,130 in fiscal year 2025 (2024: deficit of income over expenditure £7,553). Despite ongoing economic and political uncertainties, the charity has made progress in fundraising while maintaining adequate reserves. The trustees will aim to prioritise the need to secure sufficient income streams in order to sustain and expand programmes in response to growing needs on the ground.

In the past year, Friends of Palestinian Universities has taken important steps towards diversifying its funding base and building institutional support. Notably, the charity held its annual away day, which culminated in the further development of a strategy for fundraising and programme development. Implementation began in late 2023, with an emphasis on securing institutional funding to meet the urgent needs arising from the crisis in the Palestinian higher education sector and to support increased organisational capacity. Expanding funding streams remains essential to the long-term viability of Friends of Palestinian Universities work and its ability to scale impact.

The trustees have the power to invest in such assets as they see fit. Treasury activities aim to ensure sufficient liquidity for Friends of Palestinian Universities operational needs while minimising risk in a cost-effective manner.

Reserves Policy

The trustees aim to maintain reserves at a level equivalent to approximately six months of management and administrative costs in unrestricted funds, after accounting for known scholarship commitments. This provides a financial cushion in the event of unforeseen circumstances and helps safeguard the continuity of the charity's work.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Dr A Shalan

Dr M Masri

Dr M Qato

Ms S Hamrouni

Dr H Murray

A Najar

Approved by order of the board of trustees on 25 June 2026 and signed on its behalf by:

Ms S Hamrouni - Trustee

Independent Examiner's Report to the Trustees of

Friends of Palestinian Universities

Independent examiner's report to the trustees of Friends of Palestinian Universities ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2. | the accounts do not accord with those records; or

3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

I R Futcher FCA

Dial Square Associates Limited

Chartered Accountants

9 St George's Yard

Farnham

Surrey

GU9 7LW

25 June 2026

| Friends of Palestinian Universities |

Statement of Financial Activities

for the Year Ended 31 August 2025

| 31.8.25 |  | 31.8.24

| Unrestricted |  | Restricted |  | Total |  | Total

| fund |  | fund |  | funds |  | funds

| Notes | £ | £ | £ | £ |

INCOME AND ENDOWMENTS FROM

Donations and legacies | 99,682 |  | 179,891 |  | 279,573 |  | 100,286 |

Investment income | 2 | 9,526 |  | 2,064 |  | 11,590 |  | 2,715 |

Total | 109,208 |  | 181,955 |  | 291,163 |  | 103,001 |

EXPENDITURE ON

Raising funds

Raising donations and legacies | 3 | 12,069 |  | 21,646 |  | 33,715 |  | 14,742 |

12,069 |  | 21,646 |  | 33,715 |  | 14,742 |

Charitable activities | 4

Charitable activities | 76,647 |  | 105,097 |  | 181,744 |  | 96,372 |

Total | 88,716 |  | 126,743 |  | 215,459 |  | 111,114 |

Net gains/(losses) on investments | (4,574 | ) | - |  | (4,574 | ) | 560 |

NET INCOME/(EXPENDITURE) | 15,918 |  | 55,212 |  | 71,130 |  | (7,553 | )

Transfers between funds | 13 | 8,816 |  | (8,816 | ) | - |  | - |

Net movement in funds | 24,734 |  | 46,396 |  | 71,130 |  | (7,553 | )

RECONCILIATION OF FUNDS

Total funds brought forward | 95,401 |  | 114,530 |  | 209,931 |  | 217,484 |

TOTAL FUNDS CARRIED FORWARD | 120,135 |  | 160,926 |  | 281,061 |  | 209,931 |

| Friends of Palestinian Universities (Registered number: 05713430) |

Balance Sheet

31 August 2025

| 31.8.25 |  | 31.8.24

| Unrestricted |  | Restricted |  | Total |  | Total

| fund |  | fund |  | funds |  | funds

| Notes | £ | £ | £ | £ |

FIXED ASSETS |

Tangible assets | 9 | 2,548 |  | - |  | 2,548 |  | - |

Investments | 10 | 100,348 |  | 48,517 |  | 148,865 |  | 143,918 |

102,896 |  | 48,517 |  | 151,413 |  | 143,918 |

CURRENT ASSETS |

Debtors | 11 | 21,054 |  | - |  | 21,054 |  | 5,151 |

Cash at bank | 8,583 |  | 112,409 |  | 120,992 |  | 70,141 |

29,637 |  | 112,409 |  | 142,046 |  | 75,292 |

CREDITORS |

Amounts falling due within one year | 12 | (12,398 | ) | - |  | (12,398 | ) | (9,279 | )

NET CURRENT ASSETS | 17,239 |  | 112,409 |  | 129,648 |  | 66,013 |

TOTAL ASSETS LESS CURRENT LIABILITIES | 120,135 |  | 160,926 |  | 281,061 |  | 209,931 |

NET ASSETS | 120,135 |  | 160,926 |  | 281,061 |  | 209,931 |

FUNDS | 13

Unrestricted funds:

| Unrestricted | 120,135 |  | 95,401 |

Restricted funds:

| Restricted | 160,926 |  | 114,530 |

TOTAL FUNDS | 281,061 |  | 209,931 |

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 25 June 2026 and were signed on its behalf by:

S Hamrouni - Trustee

| Friends of Palestinian Universities |

Notes to the Financial Statements

for the Year Ended 31 August 2025

1. | ACCOUNTING POLICIES

| Charity information

| The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

| Accounting convention

| The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

| The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.

| The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

| Going concern

| At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

| Charitable funds

| Unrestricted funds comprise general funds created by the accumulated surplus within the statement of financial activities. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

| Restricted funds represent amounts received for a specific purpose, which have not yet been fully spent, on that purpose by the year end.

| Adela Every Scholarship - This fund was set up to cover the cost of a scholarship under the following criteria, 'A female student from vil lages or refugee camps'.

| Doreen & Leila Ingrams Scholarship - This fund was set up to cover the cost of a scholarship for, 'One or more female students with special needs'.

| Peter Holliday Scholarship - This fund was set up to cover the cost of scholarship under the following criteria, 'Female students facing fi nancial hardship.'

| The Hardship Fund - a 'quick response' fund that contributes towards tuition fees, living expenses, housing, IT, travel and books.

| Sarah Hayward Scholarship - This fund was set up for scholarships for undergraduate students in financial need.

| Boulos and Margaret Kaibni - This fund was set up to cover the cost of a scholarship under the following criteria - 'for a female student in fi nancial need at Birzeit University'.

| Dr Salem H. Khamis Scholarship - Supports a Palestinian student in financial need to study statistics or mathematics at masters level.

| Al-Shehabi Family Scholarship - Supports a Palestinian student in financial need.

| Dominic Simpson Memorial Scholarship - Supports a female student at Birzeit University based upon financial need and academic merit.

| El-Gomati Scholarship - This fund was set up to cover the cost of a scholarship under the following criteria, 'for a female student in fin ancial need'.

| Leri Scholarship - This fund supports a student in financial need.

| Joseph Rowntree Charitable Trust Main Fund - This fund provides support for the charity's programme.

| Joseph Rowntree Charitable Trust Development Fund - This fund provides support for the associated costs of developing of the organisation.

| Friends of Palestinian Universities |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

1. | ACCOUNTING POLICIES - continued

| Charity information

| Joseph Rowntree Charitable Trust Wellbeing Fund - This fund provides support for the wellbeing of Fobzu staff, university students and faculty.

| The board took the decision in 2021 that future annual scholarship sponsorships should be recorded as unrestricted funds in order to ensure the efficient use of resources. Existing donors were consulted about this change and their agreement secured.

| Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

| Income

| Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

| Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

| Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset

| .

| Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings on a time spent basis:

| Costs of raising funds comprise the costs of fundraising activities and their associated support costs.

| Expenditure on charitable activities includes the costs of scholarship, advocacy, awareness and academic activities undertaken to further the purposes of the charity and their associated support costs.

| Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include payroll and governance costs which support the programmes. These costs have been allocated between cost of raising funds and expenditure on charitable activities.

| Expenditure

| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Fixtures, fitting and equipment 5 years straight line

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the statement of financial activities.

| Fixed asset Investments

| Fixed asset investments are initially measured at transaction price excluding transaction costs and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year.Transaction costs are expensed as incurred.

| Cash and cash equivalents

| Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| Friends of Palestinian Universities |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

1. | ACCOUNTING POLICIES - continued

| Taxation

| The charity is exempt from corporation tax on its charitable activities.

| Fund accounting

| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

| Financial instruments

| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

| Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Employee Benefits

| The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

| Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

| Retirement benefits

| Payments to defined contribution retirement benefit schemes are charged as an expense when they fall due.

2. | INVESTMENT INCOME

| 31.8.25 |  | 31.8.24

£ | £ |

| Deposit account interest | 2,289 |  | 2,715 |  |

| Dividends received | 9,301 |  | - |  |

11,590 |  | 2,715 |  |

| Friends of Palestinian Universities |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

3. | RAISING DONATIONS AND LEGACIES

| 31.8.25 |  | 31.8.24

£ | £ |

| Staff costs | 25,449 |  | 11,006 |  |

| Office costs | 4,113 |  | 739 |  |

| Website costs | 493 |  | 478 |  |

| Bank charges | 417 |  | 296 |  |

| Support costs | 2,328 |  | 1,577 |  |

| Rent and utility costs | 915 |  | 646 |  |

33,715 |  | 14,742 |  |

4. | CHARITABLE ACTIVITIES COSTS

| Direct

| Costs

£ |

| Charitable activities | 181,744 |  |

5. | NET INCOME/(EXPENDITURE)

| Net income/(expenditure) is stated after charging/(crediting): |

| 31.8.25 |  | 31.8.24

£ | £ |

| Depreciation - owned assets | 337 |  | - |  |

6. | TRUSTEES' REMUNERATION AND BENEFITS

| There were no trustees' remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.

| Trustees' expenses

| There were no trustees' expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024.

7. | STAFF COSTS

| 31.8.25 |  | 31.8.24

£ | £ |

| Wages and salaries | 25,449 |  | 11,006 |  |

25,449 |  | 11,006 |  |

| The average monthly number of employees during the year was as follows:

| 31.8.25 |  | 31.8.24

| Employees | 3 |  | 2 |  |

| No employees received emoluments in excess of £60,000.

| Friends of Palestinian Universities |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

| Unrestricted |  | Restricted |  | Total

| fund |  | fund |  | funds

£ | £ | £ |

| INCOME AND ENDOWMENTS FROM

| Donations and legacies | 80,388 |  | 19,898 |  | 100,286 |

| Investment income | 47 |  | 2,668 |  | 2,715 |

| Total | 80,435 |  | 22,566 |  | 103,001 |

| EXPENDITURE ON

| Raising funds

| Raising donations and legacies | 14,682 |  | 60 |  | 14,742 |

14,682 |  | 60 |  | 14,742 |

| Charitable activities

| Charitable activities | 68,984 |  | 27,388 |  | 96,372 |

| Total | 83,666 |  | 27,448 |  | 111,114 |

| Net gains on investments | 560 |  | - |  | 560 |

| NET INCOME/(EXPENDITURE) | (2,671 | ) | (4,882 | ) | (7,553 | )

| Transfers between funds | 119 |  | (119 | ) | - |

| Net movement in funds | (2,552 | ) | (5,001 | ) | (7,553 | )

| RECONCILIATION OF FUNDS

| Total funds brought forward | 97,953 |  | 119,531 |  | 217,484 |

| TOTAL FUNDS CARRIED FORWARD | 95,401 |  | 114,530 |  | 209,931 |

9. | TANGIBLE FIXED ASSETS

| Fixtures

| and

| fittings

£ |

| COST

| At 1 September 2024 | 200 |  |

| Additions | 2,885 |  |

| At 31 August 2025 | 3,085 |  |

| DEPRECIATION

| At 1 September 2024 | 200 |  |

| Charge for year | 337 |  |

| At 31 August 2025 | 537 |  |

| NET BOOK VALUE

| At 31 August 2025 | 2,548 |  |

| At 31 August 2024 | - |  |

| Friends of Palestinian Universities |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

10. | FIXED ASSET INVESTMENTS

| Cash held |

| Listed |  | in |

| investments |  | portfolio |  | Totals

£ | £ | £ |

| MARKET VALUE

| At 1 September 2024 | 136,243 |  | 7,675 |  | 143,918 |  |

| Additions | - |  | 9,521 |  | 9,521 |  |

| Revaluations | (4,574 | ) | - |  | (4,574 | ) |

| At 31 August 2025 | 131,669 |  | 17,196 |  | 148,865 |  |

| NET BOOK VALUE

| At 31 August 2025 | 131,669 |  | 17,196 |  | 148,865 |  |

| At 31 August 2024 | 136,243 |  | 7,675 |  | 143,918 |  |

| There were no investment assets outside the UK.

| Cost or valuation at 31 August 2025 is represented by:

| Cash held |

| Listed |  | in |

| investments |  | portfolio |  | Totals

£ | £ | £ |

| Valuation in 2024 | (2,232 | ) | 2,567 |  | 335 |  |

| Valuation in 2025 | (4,574 | ) | - |  | (4,574 | ) |

| Cost | 138,475 |  | 14,629 |  | 153,104 |  |

131,669 |  | 17,196 |  | 148,865 |  |

| Fixed asset investments were valued on an open market basis on 31 August 2025 by Hargreaves Lansdown .

11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

| 31.8.25 |  | 31.8.24

£ | £ |

| Other debtors | 7,259 |  | 4,145 |  |

| Prepayments and accrued income | 13,795 |  | 1,006 |  |

21,054 |  | 5,151 |  |

12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

| 31.8.25 |  | 31.8.24

£ | £ |

| Trade creditors | 3,801 |  | - |  |

| Social security and other taxes | 2,463 |  | 1,270 |  |

| Other creditors | 497 |  | 1,560 |  |

| Accruals and deferred income | 5,637 |  | 6,449 |  |

12,398 |  | 9,279 |  |

| Friends of Palestinian Universities |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

13. | MOVEMENT IN FUNDS

| Net |  | Transfers |  |

| movement |  | between |  | At |

| At 1.9.24 |  | in funds |  | funds |  | 31.8.25 |

£ | £ | £ | £ |

| Unrestricted funds

| Unrestricted | 95,401 |  | 15,918 |  | 8,816 |  | 120,135 |  |

| Restricted funds

| Restricted | 114,530 |  | 55,212 |  | (8,816 | ) | 160,926 |  |

| TOTAL FUNDS | 209,931 |  | 71,130 |  | - |  | 281,061 |  |

| Net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Gains and |  | Movement |

| resources |  | expended |  | losses |  | in funds |

£ | £ | £ | £ |

| Unrestricted funds

| Unrestricted | 109,208 |  | (88,716 | ) | (4,574 | ) | 15,918 |  |

| Restricted funds

| Restricted | 181,955 |  | (126,743 | ) | - |  | 55,212 |  |

| TOTAL FUNDS | 291,163 |  | (215,459 | ) | (4,574 | ) | 71,130 |  |

| Comparatives for movement in funds

| Net |  | Transfers |  |

| movement |  | between |  | At |

| At 1.9.23 |  | in funds |  | funds |  | 31.8.24 |

£ | £ | £ | £ |

| Unrestricted funds

| Unrestricted | 97,953 |  | (2,671 | ) | 119 |  | 95,401 |  |

| Restricted funds

| Restricted | 119,531 |  | (4,882 | ) | (119 | ) | 114,530 |  |

| TOTAL FUNDS | 217,484 |  | (7,553 | ) | - |  | 209,931 |  |

| Comparative net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Gains and |  | Movement |

| resources |  | expended |  | losses |  | in funds |

£ | £ | £ | £ |

| Unrestricted funds

| Unrestricted | 80,435 |  | (83,666 | ) | 560 |  | (2,671 | ) |

| Restricted funds

| Restricted | 22,566 |  | (27,448 | ) | - |  | (4,882 | ) |

| TOTAL FUNDS | 103,001 |  | (111,114 | ) | 560 |  | (7,553 | ) |

| Friends of Palestinian Universities |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

13. | MOVEMENT IN FUNDS - continued

| A current year 12 months and prior year 12 months combined position is as follows:

| Net |  | Transfers |  |

| movement |  | between |  | At |

| At 1.9.23 |  | in funds |  | funds |  | 31.8.25 |

£ | £ | £ | £ |

| Unrestricted funds

| Unrestricted | 97,953 |  | 13,247 |  | 8,935 |  | 120,135 |  |

| Restricted funds

| Restricted | 119,531 |  | 50,330 |  | (8,935 | ) | 160,926 |  |

| TOTAL FUNDS | 217,484 |  | 63,577 |  | - |  | 281,061 |  |

| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Gains and |  | Movement |

| resources |  | expended |  | losses |  | in funds |

£ | £ | £ | £ |

| Unrestricted funds

| Unrestricted | 189,643 |  | (172,382 | ) | (4,014 | ) | 13,247 |  |

| Restricted funds

| Restricted | 204,521 |  | (154,191 | ) | - |  | 50,330 |  |

| TOTAL FUNDS | 394,164 |  | (326,573 | ) | (4,014 | ) | 63,577 |  |

14. | RELATED PARTY DISCLOSURES

| There were no related party transactions for the year ended 31 August 2025.