DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
Charity Registration No. 1061622
Company registration No. 03341342 (England and Wales)
THE BRITISH INSTITUTE IN EASTERN AFRICA
REPORT OF THE GOVERNING COUNCIL AND ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2021

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company" Limited by Guarantee not having a Share Capital)
Contents
Reference and Administrative Information
Report of the Governing Council
Independent Auditors Report
Consolidated Statement of Financial Activities
Consolidated Balance Sheet
10
Charitable Company Balance Sheet
Consolidated Statement of Cash Flows
12
Notes lo ihe A¢counts
13-29

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITLITE IN EASTERN AFRICA
(A Comparty l.imit¢d by Cuar#nt¢¢ rtot h#ving 4 Sh#r¢ C.#pital)
REPORT OF THE GOVERNING COUNCIL
FOR THE YEAR ENDED 31 MARCH 2021
Company R¢gist¢r¢d Number:
03341342
ChArity Registered Number
1061622 (Registered in England and Wales)
Principal Address Registered Offiee
10 Carlton House Terrace
London SWIY SAH
B4nk¢r$
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
KenL ME19 4JQ
Auditot
WMT
Chartered Accountants
erulam Point
Station Way
St Albans, Herts, ALI SHE
Members of the Governing CouncillDire¢tors
Profcssor Justin Willis (President)
Daime Professor Henrietta Moore DBE. FBA, FACSS
Professor Peter Mitchell FSA (Hon Secretsry)
MT Robert Tench (Hon Treasurer)
Dr Mpalive-Hangson Msiska
Dr Iwaleso Omosalewa Salami
DT Pedrani Rowhani
RT Hon Mark Jonathon Mortlock Simmonds
DT Micliael Jenning5
Professor Paul Lane
Dr Gabrielle Lynch
Dr Stephaiiie Wynne-Jones
Dr Ceri Ashley
Professor Victor MuTinde
Dr Reginald Cline-cole
DT Matthew Davies
Sir Jeffrey James KBE, CMG
DT Adam Branch
Professor Emma Hunter
Dr George Haandishe Karekwaivanane
Professor Ainbreena Manji
Dr Lynne Muthoni Wanyeki
Appointed 3 Nov 2021
R¢signed 3 Nov 2021
Director
Dr Jane Hutnphris
Web5jte
vw.biea.ac.uk

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITLITE IN EASTERN AFRICA
(A Comparty l.imit¢d by Cuar#nt¢¢ rtot h#ving 4 Sh#r¢ C.#pital)
REPORT OF THE GOVERNING COUNCIL
FOR THE YEAR ENDED 31 MARCH 2021
The Members of Council, who are also directors of the company for the purposes of the Companies Act, present their
Teport togetherwith the auditcd financial 5tateillent5 of the coillpaiiy for the year ended 31 March 2021. The finaiicial
statements have been prepared in accordance ￿'ith the accountiiig policies as set out in the notes to the financial
statenieiits, the C.ompaiiies Act 2006 and AccountingFand Reportiiig by ChaTltie5'. Stat¢mentof Recoinmended Practice
applicable to charities preparing their accounts in accordance ￿'￿th the Financial Reporting Standard applicable in the
UK and Republic of Ireland (FRS102) (S￿ond Edition) aiid coinply with the governing docurntnt.
This repon is a dir¢ciors' ￿pOrt as required by the Companies A¢t 2006.
STRLICTURE, GOVERNANCE AND MANAGEMENT
The Brit15h Ii)stitutt in EasteTn Africa is a conipany liinited by guarantee aiid not havingF a Share capitsl, ii)corpoTated
in England and Wales under Registration No 03341342. The Institute is also a charity registered in England and Wales,
Registration No 1061622.
The Tnsiitute's resear¢h ¢entre and libratw is located irt Nairobi, managed and staffed the￿ by our subsidiary
organi5ation BIEA Kenya which is constituted as a Kenyan Non-Govemineiital OTganisation {NGOI.
The Institute is governed by its Memoranduin ai)d Articles of Asso¢iation, as last amended 01) 25 Noven)ber 2003.
Mtmbern of Coutheil and their interest$
The members of the Governin8 Council are listed on page l.
The membeTS of Council do not hai'e any intere5t5 i¥hich are required to be disclosed undeT the Companies Act 2006.
No commercial material contracts subsisted during the period in which any member of Council had an interest.
Under the terms of the Memorandum and Articles of Association, the Council shall consist of Honorary OITicers (the
Presidei)t, the N'i¢e-Presid¢iiL the Honorary Treasurer and the Hoi)oiary Secretary), up to fifteen other persoi)s elected
by the Institute's members and up to three other pcrsons co-opted by the Council. All hold the role of 'Director' under
C.oiMpanies House ai)d Charity Cominission detinitions but are also referred to as Trustees and 'The Governing
Council, in the Memorandum and Articles of Association. All the Honorarv OtTicer5 aiid elected members of c.ouncil
shall retire from office at each annual general meeting following their appointment, but proi'ided they have indicated
tlieir willingll¢s5 to act and th¢ Institute lia5 not filled th¢ vacancy. tliey are deemed to liave beell reappointed uii1¢5s a
resolution for the reappointment is put to the Annual General Nfeeting and lost.
Member5 of Council are selected as being knowledgeable in some field of study, or holding some expertise, relevant
to the Institiite's work. On joining the Council, new members receive an infomation paLk whi¢h incliides the
Institute's Memorandum and Articles of Association, and the Loiidon Secretary circulates relevant inforjnation
produced by the Charities. Commission regarding the responsibilities of charity Trustees.
The Council has final authority over all decisions in the Institute, the financial asrects of which are exercised through
Ihe approval and monitoring of the annual budgei. On o¢casion, owing to the ¢y¢le ot. meetings, actiort outside the
budget may need to be taken in advance of formal approval. Where circumstances require rapid action, the Officers
may appr()ve su¢h action: thi4 musi be reported to Colln¢il ai the first ()pw)rtunity. The Director, in ¢ollaboraiion with
either the freasurer or one of the Vice Presidents has authority to make purchases or enter into contracts outside the
biidget to a value not exceeding two thousand pollnds and to einploy temporary and ancillary staff. Larger payments
outside the budget and permanent employment of staff must receive prior approval from Council.
The Council has introduced a formal risk nianagement proces5 to as5e5s bu5ines5 risk5 and implement risk
management strategies. This involves identifyin8 the rypes of risk the Institute faces, prioritising them in tenns of
poiert¢ial impact and likelihood of 0¢cU￿rt¢e, and identifyiiig means of rtlltigatiiig ihe risks. As part of this process
the Council reviews the adequacy of the Institute's internal controls. The principal risks identified from thi5 process.
iogeiher with iheir plannd mitigaiions are..

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITLITE IN EASTERN AFRICA
(A Company l.imit¢d by Gu#T•llt¢¢ not h#ving a Sh#r¢ C.#pital)
REPORT OF THE GOVERNING COUNCIL
FOR THE YEAR ENDED 31 MARCH 2021
ExChu￿gÉ rtsié.17ts¢luL71iort.¥ h&M.ée￿ Ihg Ke￿).￿￿.￿h1ll1ng￿1tdI￿é POEIAd.gierli￿g. All expenditure is monitored on
a Inoiithly basis. In the event of sigFnificant adverse exchaiigFe rate IMoN'ements. Kenyaii budgFets will be adjusted
and variable costs cut so that they are accommcNlated within the net sterling funding available to us.
Terrorism eveKls, crinie otherphjtrsiculsecurity thi'eats ￿.￿lI0b1. We have already put in place a high level
of security measures including guard5, f¢nciiig and tar¥eted staff training. We keep the 51tuation under constant
review and have c105e coinillunication5 Wlth both the Kenyaii authoritie5 and the British High C.omini5sion
con¢erning ongoing politi¢al developments, and are ready to lake further emergen¢y measures as ￿QuI￿d.
Covid-19 & Bré¥il. Covid resulted in home working just before the previous year-end and ¢ontinues to be a
5igFnificant factor going forward. There ha5 beeii a con5iderablt105s of revenue from third parties 5iiice this tinie.
This is not expected to change until the resumption of international travel to more nom)al levels. It is not expected
that B￿xit will Impact the Iiistitute, except if 1¢ constrains the government funding in the longer term.
The C.oun¢il is pleased to rewrt thai the Trtsiitute's internal financial ¢ontrols in particular ¢onfomi With guidelines
Issued by the Charity Commission.
The Director ai)d Kenyan Director coinprise the key Inai)agement teain wl)o manage the Ii)stitute on behalf of the
Trnstees. The Director is a mid-career academic formerly at University C.olle8e London directly employed by the
Ii)stitute. The Kenyan Director Is a Kenyai) academic re¢ruited as a direct employee ot'the Tnstitute. Her ren)ui)eration
level was set through our review of the market remuneration rates for comparable academic roles in Nairobi at the
time of her recruitinent.
0￿ECTIVEs AND ACTIVITIES
The TH￿titute PTomotes research in the humanities ai)d so¢ial s¢ien¢es across eastern Afri¢< to¥¢theT Wlth the
dissemination of knowledge in these fields.
The Council has identified four aims which are integral to this role.. (l) direct research and the facilitation of research,.
(2) the building of the research Community. (l) the development and facilitation of research ¢ollaborations; and141
dissemination of the results of research and public engagemeiit.
The Institute issued two calls foT proposals for thtmatic se¢d-rorn gratLt5 iii the following areas= Rettlling the Past:
Knowing Environments,. Citizens and Science,. Technologies of Politics,. Urban Lives,. Epidemics, pandemics and
epizovtics. Graiit proposals are ion5idered by a comiMittt¢ L01I515ting of two In¢mbers of the Ttsearch coiniiiittet, the
Director, A5SiStant Director and one or more research fellows, on behalf of the Governing Council. Several other types
of r¢s¢ar¢h grants were also awarded throughoiii the y¢ar, in¢luding ad ho¢ ￿Search supporr.
ACHIEVEMENTS AND PERFORMANCE
Working in collaboration with colleagues from eastern Africa and with scholars from around the world. the Institute
supported and carried out innovative research across the wider region and disseminated the results of research into a
wide range of iopics including laiid ownership, archaeology, law, politics and agricultural developnient. The Institute
assisted visiting researchers by providin8 advice on research projects and by providing appropriate equipment. A
gr()wing number of researchers used our library and were assisted by the Institute's graduaie atiachee8 during Iheir
fjeldwork. In addition, research projects run by academics from the UK and elsei¥here were affiliated to and supported
by the Instiiuie during the year. A busy programme of disseinination events took place at the Nairobi base this year,
including public lectures, workshops and book launches. Our activities aiid outcomes are measured in a fijll set of key
Pcrformance Indicators, which are agreed with our principal sponsors the British Academy and the UK Department
for Bu5ine55. EntTgy and Industrial Strategy. These includt the numbers of research piDjects alld paper5. research
events such as conference and seminars, numbers of scholars assisted, usage of our library and key measures of cost
effectiwertess. Full details of the Institute's a¢tlVllies during the year are provided in our separaiely published Annual
Review.

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITLITE IN EASTERN AFRICA
(A Company l.imit¢d by Gu#T•llt¢¢ not h#ving a Sh#r¢ C.#pital)
REPORT OF THE GOVERNING COUNCIL
FOR THE YEAR ENDED 31 MARCH 2021
FINANCIAL REVIEIV
The Institute's principal source of funds reniains the British Academy. via its BTltish International Research
Insiitutes IBTR T) grani. We received the ¢ore grant totaling £421,447 plus a £23,000 ¢ontingen¢y grant and a
further Strategic Developnieiit Grant of £93,690.
Total gross incotnings resourc¢5 aniounted to £794,854 coinpared to £633,346 in the previou5 year. Thi5
included specific restricted 8rant monies (note-161 totalin8 £144,921 compared to £nil in the prior year. The
Institute's other income, excluding the British Acadeiny and other restricted grant5, amounted to £8i,139
compared with £103.939 in the previous year.
Resources expended durin8 the year totaled £689,303 compared with £626,818 in the previous year.
The surplus for the year before investment gains was £105,551 and we made a gain on investments of
£73,779, together resulting in a net increase in funds o1£179,730. Our Net Assets at the end olthe vear were
£817,311, ali iiicrease of 280/0 over the previous year. These were represented by £12? 095 of Unrestricted
General Funds, £686,197 of Unrestricted Designated Funds and £9,019 of Restricted Funds.
The BIEA Council keeps under review the level of general reserves which the Instiiiite needs to continue to
operate within its enviroiinient. At 31 March 2021 total reserves aniounted to £817.311 including £9.019
restricted funds. Total fiinds also include £686,197 which is a designated flind for the general use of the
harity. The niajority of our resetVe5 are invested iii the broadly diversified Sarasin & Partners Alpha
Common Investment Fund for Endowments, whose investment policies we share.
PLANS FOR FUTURE PERIODS
The BIEA has committed itseifto our longer-term ambition to ensure that we fully realize BIEA'S potential
asthe
oiily UK-funded centrt for Te5tarch iii huniaiiities and social science5 iii Africa
to support research across the
continent. Over the last ten years it has broadcncd its disciplinary reach across the social scicnccs and humanities, and
it has done so through a deliberately taTgFeted Strategy in ttllns of it5 theniatic research gyTant5. Its attachnient schtme,
and its fellowship schemes, as well as the research ei'ents, workshops and conferences that it facilitates and, equally
importantly, its publications portfolio and strategy. The establishmeni of the Journal of Eastern African Studies {JEAS)
is a particular 5ucces5, complementing the BIEA'5 flagFship east African monograph Series aiid the well-established
journal A2ania.' Archaeological Research in Africa. JEAS continues to grow from strength to strength, demonstrating
how the BIEA has convincingl), and credibly Spread its interdisciplinary reach across the social Sciences and
humanities O￿tr the last decade. Over the next ten years, the BIEA'S priorities are to continue forging new productive
liiik5, 1)eti¥orks and partner5hip5 acr05S the coiitineiit a5 a whole, beyond the wider ea5ttm Afiicaii region in w'hich it
is already very well established. It is a very appropriate time to take on this challenge becau5ethe shape of international
research partnerships, agendas and priorities 1rt.4frican Studies are ¢hanging, both with the growing Iiifluen¢e ofBRIC
countries, and their growing interest in Africa, and as .4fricaii scholars increasinfTIy seek to forge new line5 of
collaboration across the continent first, and with BRIC countries second, ahead of older country-specifjc linkages with
European and North American partner5. The BIEA'5 location at one of the continent'5 key regional hubs. aiid with its
widely recognised and respected history at the heart of scholarship on Africa, means it is uniquely placed to promote
the continued development olUK Tesearch ii) and on Africa for luture decades.
EVENTS SINCE THE YEAR END
Other than the continuing impacts of Covid-19 (see Ri5k5 above). no event5 have occurred since the balance Sheet
date which, in the opinion of the Goven)ing Council, need to be drawn to the attention of the members.
PLIBLIC BLNETr-IT
The1115titute h&5 Pdid due regard to the guidance produced by the Charity Con)missitsn in relation to the public benefit
requirejnent.

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITLITE IN EASTERN AFRICA
(A Company l.imit¢d by Gu#T•llt¢¢ not h#ving a Sh#r¢ C.#pital)
REPORT OF THE GOVERNING COUNCIL
FOR THE YEAR ENDED 31 MARCH 2021
STATEMENT OF GOVERNING COUNCIL'S RESPONSIBILITIES
The c.ouncil meet5 on a regulaT basi5 to mallagFe the affaiTS of the charity..
The meinber5 of Council {￿'hO aTe also director5 of The BTltish Institute in Eastern Africa foT the purposes of company
lawl are responsible for preparing the Annual Report and the financial ststements in accordance with applicable law
aiid United Kingdom Arcoutlting Standard5 (United Kingdom Geiierally Accepted Accountiiig Practic¢).
C.()mpanw law requires the member% af Colln¢il io prepare financial 8tatem¢nts for each financial year which give a
true and fair view of the State of affair5 of the charitable compan). and of the iiicoiniiig5 re50urce5 and application of
resollrees, including the irtcome and expenditure, of the charitable ¢ompany forthai period. In preparing these financial
statenients, the trustees are required to..
Select suitable accounting policies and then applied thein consistently.,
Observe the methods and principles in the Charities SORP.,
Makejudgements and a¢counting estimates that are ￿8$Onable and prudent;
State wl)ether applicable UK AccountiiigF Standard5 have been followed. subject to any mateTial departures
disclosed and explained in the financial statcmcnts; and
Prepared the financial statements on the going ¢oncem basis unless it is inappropriate to presume that the
haritable compally will continue iii operation.
The Inembers of c.ouncil are responsible for keeping adequate accounting record5 that disclose with reasonable
accuracy at any time the financial position of thc charitablc company and cnable them to ensure that the financial
statenients coniply with the Compaiiies Act ?006. Thev are a150 responsible for safeguaTding the assets of the
charitable company and hence for tsking reasonable steps for the prevention and dctcciion of fraud and other
The Inembers of Council ¢onfimi that, so far as they are aware, there is no relevant audit information of which the
charity's auditors are unaware. They hai'e tsken all the 5teP5 that they ought to have taken as members of Council in
order ¢0 make ihemselves aware of aiiy relevani audit Informaiion aiid to esiablish that the ¢hariry's audiiors are aware
of that infonnation.
Advai)tage has been taken of the exemptions available to small companies in the preparatitsn of this report.
DTJ7gC8U137I81...
Robert Tench
Honorary Treasurer
Justin Willis
President
Dated: 21 December 2021

## **INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF** 

## **THE BRITISH INSTITUTE IN EASTERN AFRICA** 

## **(A Company Limited by Guarantee not having a Share Capital)** 

## **YEAR ENDED 31 MARCH 2021** 

## **Opinion** 

We have audited the financial statements of The British Institute in Eastern Africa (the parent ‘charitable company’) for the year ended 31 March 2021 which comprise the Consolidated Statement of Financial Activities, Consolidated and Charity Balance Sheets, Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

- give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities 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 trustees’ use of the going 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 relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. 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 express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the trustees’ report, which includes the directors’ report prepared for company law purposes, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements. 

6 



## **INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF** 

## **THE BRITISH INSTITUTE IN EASTERN AFRICA** 

## **(A Company Limited by Guarantee not having a Share Capital)** 

## **YEAR ENDED 31 MARCH 2021** 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion **:** 

- adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement 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 entitled to take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report. 

## **Responsibilities of trustees** 

As explained more fully in the trustees’ responsibilities statement set out on page 5 the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary 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 group’s and parent charitable company’s ability to continue as a going 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. 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s 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 (UK) 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 basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. 

The following laws and regulations were identified as being of significance to the entity: 

- Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, and Charity Law. 

- Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the charity and therefore may have a material effect on the financial statements include compliance with the charitable objectives, public benefit, Kenyan NGO & other regional law, safeguarding and health & safety legislation. 

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: inquiries of management and the Trustees as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of Trustee meeting minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud. 

7 



## **INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF** 

## **THE BRITISH INSTITUTE IN EASTERN AFRICA (A Company Limited by Guarantee not having a Share Capital)** 

## **YEAR ENDED 31 MARCH 2021** 

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error.  As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK). 

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: 

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company’s internal control. 

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. 

- Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. 

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 

- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 

## **Opinion on other matter as required by British Academy grant letter** 

In our opinion, in all material aspects, the grant payments from the British Academy have been applied in accordance with, and for the purposes set out in, the Agreement. 

## **Use of our report** 

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. 


**Elizabeth Irvine (Senior Statutory Auditor) For and on behalf of WMT** 22 December 2021 **…………….** 

**Chartered Accountants and Statutory Auditors** 

Verulam Point Station Way St Albans Hertfordshire AL1 5HE 

8 



DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company Limited by Guarantee not having a Share Capital)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING AN INCOME AND EXPENDITURE ACCOUNT
YEAR EP4DED 31 MARCH 2021
Total
Funds
2021
Total
Funds
2020
Notes
Unrestricted
Funds
Designat¢d
Funds
Restricl¢d
Funds
Infome and endowments from.
Donations and lega¢ies'.
Grant5
Subscriptions
Charitable activities..
Publications
Guest house income
Other trnding activities..
Rent
Vehicle income
Investment income..
It]tere5t on bank
Investment inconie
Other income:
Miscellaneous
26,657
4,747
683,058
709.715
4,747
529,407
6,721
17,075
588
17.075
588
11,350
9,151
45,926
900
45,926
900
53,106
3,708
3b
184
184
12,619
12,619
12,312
3.100
99,177
3.100
794,854
7,414
63i,i46
TotAI
12,619
683,058
Expenditure on.
Raising fuiids
Charitable activities
15,829
63,078
78,907
7,759
600.051
607.810
23,588
665.715
689,J03
20,745
606,073
626,818
2.586
2.586
Total
Realised gainslllosses) on
investnients
Uiireali5ed gain￿{1055esI on
inve5tinent5
73,779
73,779
117,796)
Iyet income l(expendi¢ure)
20,270
83,812
75,248
179.330
(11,268)
Transfers between funds
69,877
(69,877}
Total movement in funds
90.147
83,812
5.371
179.330
(11,268)
Total funds brought forward
31,948
602,385
3,648
637,981
649,249
Total funds carried forward
122,095
686,197
9,019
817,311
637,981

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Compunv Limited by Guarantee not having a Share Capital)
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2021
Notes
2021
2020
FIXED ASSETS
Tangible fixed assets
Investments
299,452
4i5,519
7J4,971
237,269
349,131
586,400
10
CURRENT ASSETS
Debtors
Cash at bank and in hand
122,266
374,294
496,560
38,033
391,112
429,145
Creditors: amounts falling due within one
year
NET CURRENT ASSETS
12
(303,042)
1281.409)
193,518
147,736
TOTAL ASSETS LESS CURRENT
LIABILITIES
928,489
734,136
PROVISIONS FOR LIABILITIES
13
(96,155)
NET ASSETS
817,311
637,981
FUNDS
Unrestricted Geiieral fund
Unrestricted Designated funds
Restricted funds
122,095
686,197
9,019
31,948
602,385
3,648
16
TOTAL FUNDS
817.311
637,981
Under Companies Act 2006: s454, on a voluntary basis, the trustees can amend these financial statements if they
subsequently prove to be defeciive.
These accounts have been prepgred in accordance with the provisions applicable to small companies subject to the
small compaiiies regitne and in accordaiice with FRSI 02 SORP.
21 December 2021
Approved by die Governing Council on
and siglled on its behalf by
DfaTgc8C313T491..
Robert Tench
Hon Tre(15urer
Justin Willis
President
Company registration no. 03341342
Charity re2lStration no. 1061622
10

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Compunv Limited by Guarantee not having a Share Capital)
CHARITABLE COMPANY BALANCE SHEET
AS AT 31 MARCH 2021
Notes
2021
2020
FIXED ASSETS
Tangible fixed assets
Investments
284.523
435.519
720,042
222,133
349,131
571,264
10
CURRENT ASSETS
Debtors
Cash at bank and in hand
81,533
317,241
398,774
4,739
284.985
289.724
Creditors: amounts falling due within one
year
NET CURRENT ASSETS
12
(245,328)
(176,139)
153,446
113,585
TOTAL ASSETS LESS CURRENT
LIABILITIES
873.488
684,849
PROVISIONS FOR LIABILITIES
13
(26,353)
{46.208)
NET ASSETS
847,135
638,641
FUNDS
Unrestricted Geiieral fund
Unrestricted Designated funds
Restricted funds
151.919
686,197
9.019
32,608
602,385
3,648
16
TOTAL FUNDS
847,135
638.641
Under Companies Act 2006: s454, on a voluntary basis, the trustees can amend these financial statements if they
subsequently prove to be defeciive.
These accounts have been prepgred in accordance with the provisions applicable to small companies subject to the
small compaiiies regitne and in accordaiice with FRSI 02 SORP.
21 December 2021
Approved by the Governing Council on
and siglled on its behalf by
DocU8￿￿•d by..
0727￿3137481..
Robert TenLh
Hon Tre(15urer
Justin Willis
President
Company registration no. 03341342
Charity re2lStration no. 1061622

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Compunv Limited by Guarantee not having a Share Capital)
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2021
2021
2020
Cash flows from operating activiti
Net lexpenditurell income for the year
Adjustments for..
Depreciaiion on equipment
Investnient income
(Gainslllosses on investments
(Increase)Ireduction iii debtors
Increasel(reduction) in creditors
Increase('(reduction) in provisions
Net cash providedl (used) in operating activities
179,330
(11,268)
22,361
(12,619)
(73.779)
(84,233)
21,634
15,0?3
67,717
21,477
(12,312)
17,703
(3,740)
89,353
2,369
98,844
Cash flows from investing aetiwitie$
Purchase of investments
Sale of investments
Purchase of tangible fixed assets
Investinent income
(22,210)
(5,797)
(84,544)
12.619
(21,306)
12,312
Net cash providedl (used in) investing activities
(94.1 J5)
(14,791)
Net increase l (decrease} in cash and cash equivalenis
(26,418)
84,053
C&sh and cash equivalents at the beginning of the year
400,712
316,659
Cash and cash equiwalent5 at the end of the year
374.294
400,712
Cash and cash equivalent5 is made up of the followiiig..
Cash at bank and in hand
Cash held as part of investments
Total
374,294
391,112
9.600
374,294
400,71?
At 1.4.20
Analysis of changes in net debt
Cash flows
Non cash
Changes
At 31.3.21
Cash ai bank and in hand
400,712
{26,418)
374,294
12

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Companv Limited b) Guarantee not having a Share Capital)
NOTES TO THE ACCOUNTS
YEAR EP4DED 31 MARCH 2021
ACCOUNTIIYG POLICIES
a) Basis of accounting
The Institute meeis the definition of a public benefit entity under FRS 102. The financial statements have been
prepared under the historical cost convention as modified b) the revaluation of certgin fixed assets, in accordance
with the Statement of Recommeiided Practice.. Accounting and Reponing by Charities preparing their accounts in
accordaiice ￿1th the Finaiicial Rcporting Standard applicable in the United Kingdom aiid thc Rcpublic of Ircland
(FRS 1021 (Second Edition) aiid thc Financial Kcporting Stgndgrd gpplicable in the Unitcd Kingdom and Rcpublic
of Ireland IFRS 102} and the Conipanies Act 2006.
Assets and liabilities are initially recogni5ed at historical cost or transaction value unless Othe￿Ise ststed in the
relevaiit accountiiig policy notel5). AdvaiitagFe has been taken of the exemption in paragraph 1.12 of FRS102 not
to prepare a parent coinpaiiy cash flow stateTneiit.
The preparatioii of fiiiancial Statements iii conipliance with SORP 2015 requires the use of certain critical
accoui)ting estimates. It also requiies management to exercise judgmei)t in applying the accounting policies (see
note 2).
The followii)g principal accout)ting policies have beei) applied..
b) Incoming resources
All income is recognised once the Institute has entitleinent to the income, it is probable that it will be received and
the atnount receivable can be n)easured reliably.
All incoine is gross without deduction for Telated expenditure.
Investment income is recognised when receivable based on i)otification from the investment managers.
Giants for general support, research. stholarships or fixed assets are recognised on a receivable basis and are
deferred only when the donor has in)posed pre-conditions on tl)e use of the grant.
All legacies and donations are allocated between unrestricted. restricted and endowment funds, depending on
condiiions imposed by the donors.
e) Resourees expended
Expenditure is recogFiiised on an accrua15 basi5 as liabilitie5 are iiicutTed. Expenditure include5 any VA T which
cannot be fully recovered. and is reported as part ol'the expenditure to Mhich it related.
Cost of generating funds comprise of the costs associated with attrdcting voluntary income.
Charitable expenditure toinprised those costs incurred by the cl)arity in the deliwerv ol. its activities and services
for its beneliciaries. It includes both costs that can be allocated directly to such activities and those costs ol. an
indirect nature necessary. to support Ihem. Support costs have been allocated to activities on a basis consistent with
the use of the resources.
Grants payable io students are recognised at Ihe earlier of the date of payment or the date when an unconditional
contractual obligation is entered into. Grants are derem)ined by the relevant commitiees in line with the grant
making policy of the Institute.
Governance Costs include those costs associated with meeting the constitutional and statutory requirements of the
Institute and include the audit fees and costs linked to the strategic management of the Institute.
13

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Companv Limited b) Guarantee not having a Share Capital)
NOTES TO THE ACCOUNTS
YEAR EP4DED 31 MARCH 2021
I ACCOUNTIIYG POLICIES (continued)
d) Tangible fixed assets
Tangible fixed assets. other than heritage assets, are stated at historical cost less accumulated depreciation and any
accumulated impainnent losses. Historical cost includes expenditure that is directly attribiitable 10 bringing the
asset to the location and condition necessary for it to be capable of operating in the maniier intended by
management.
Depreciation is charged so as to allo¢ate the cost of assets less their residual value over their estimated use￿1 lives.
Depreciation is provided on Ihe following basis..
Leasehold land and buildings
Motor vehicles
CoTnputer equipinent, fIx￿re5 and fitting5
Over the period of the lease
33.33 0/0
25 010
The library is considered to be a heritage asset; held and maintained principally for its contribution to knowledge
ai)d culture. and as such is not valued in the balance sl)eet as there is not ieliable historical ii)fonnation on its cost
ai)d a conventional valuation would be overl>. onerous to eonduct and given the nature ai)d uniquei)ess of some of
the items l)eld migl)t well prove to be arbitrarv. The cost of books purchased during the year are capitalised if their
individual cost is above the capitalisation limit. All other book purchases are charged to the income statement.
Furthei details are given in note 9.
e) Fixed asset investments
Investment5 are Ca￿led at maA(et value with any unrealised gains and losses being included in the Statetnent of
Financial Activities and allocated betweeii funds.
The cost of manageinent of the investments has been charged to the Statement of Financial Aetivities.
D Debtors
Shon term debtors are measured at transaction price, less any impairment losses.
g) Cash and cash equivalents
Cash and cash equivalents comprise cash at banL and in hand and demand deposits with banks.
b) Short term creditor5
Short term creditor5 are measured at the transaction price.
14

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Companv Limited b) Guarantee not having a Share Capital)
NOTES TO THE ACCOUNTS
YEAR EP4DED 31 MARCH 2021
I ACCOUNTIIYG POLICIES (continued)
i) Provision for liabilities
Provi%ion% are made ￿'here an event has taken place that gives the Illsti￿te a legal or constructive obligation
that probgbly reqiiires settlement by a transfer of economi¢ benefit, and a reliable estimate can be mad¢ of the
amount of the obligation.
Provisions are Lharged a5 an expense to tlie SOFA in the vear that the institute beLornes aware of the obligiltioii,
and are n]easured at the best estimate at die Balance Sheet date of the expenditure Tequired to settle the
obligation: tak'ing into account relevgnt risks and uncertainties.
When payments are eventually made. they are charged to the provision carried in the Balance Sheet.
j) Pensions
Staff on UK-ba5ed contracts are offered tnenibership of the Uiiiver5lties Superaiinuation Schetne (USS}.
The assets of the scheme are held in a separate trustee-administered fund. Because ol. the mutual nature of the
scheme. the assets are not attributed io individual institutions and a schen)e-wide coi)tribuiion rate is set. The
institutioi) is therelore exposed to actuarial risks associated with other institutions. employees and is unable to
ideniily its share ol. the underlying assets ai)d liabiliiies of the scheme on a consistent and reasonable basis. As
required by Section 28 of FRS 102"EmpIo￿ee beiiefiis" the institution therelore accounts lor the scheme as if it
were a defined contribution scheme. As a result. the amouni charged to the profit and loss account represents the
contributions payable to the scheme. Since the institution has entered into an agreement (the Recovery Plan) that
deterniines how each emplover ￿'1th1n the scheme will fund the overall deficit, the instituiion recognises a liabiliiy
for the contributions payable that arise from the agreement (to the extsnt that they relate to the deficit) with related
expenses being recognised through the profit and ILISS account.
k) Financial instruments
The Institute only enters into basic financial instruments transactions thai result in the recognition of financial
assets and liabilities such as debtors and creditors.
Financial instruments are initially me&sured at transaction value. They are assessed at the end of each reporting
period for objective evidence of impaimlent. If objective evidence of impaimieni is fL)und, an impaimlent loss is
recognised in the SOFA.
l) Foreign currency translatio
The financial ststements are presented in Sterling, which is also the functional currency of the Institute.
The Institute has income and expenditure in sterling and non-sierling currencies and consequently maintains bank
accounts in various currencies to facilithie this. The Trustees. policy is to exchange sterling currei)cy onl5J when
Ihe income is certain and the expenditure is foreseeable. Foreign currencv trai)sactions are translaied into the
functional currei)cy using the exchange rate at the date of the tran&4ction. At each period end loreign currency
moneiary items are translaied using the closing rate.
15

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Companv Limited b) Guarantee not having a Share Capital)
NOTES TO THE ACCOUNTS
YEAR EP4DED 31 MARCH 2021
ACCOUNTIIYG POLICIES (continued)
Foreign exchange gains and losses resulting from the seiilement of transaciions and from the translation at period-
end exchange rates of moneiary asseis and liabilities denominated in foreign currencies are recognised in the SOFA.
Foreign exchange gains and losses that relate to monetsry assets and liabilities are presented separately on the face
of the SOFA within income or expeiiditure.
m) Funds
Unrestricted funds are funds which the tsusiees are free to use for any purpose in furtherance of the charities
objectives. Unrestricted funds include designated funds which the trustees have. ai Iheir discretion, set aside for
specific purw)ses.
Resiricied funds are funds which are to be used in accordance with specific restrictions imposed by the donor.
n) Going concern
The trustees are not aware of material uncertainties regarding going concem.
o) Basis of eons01idation
The financial statements consolidate the results of the UK chariiable company and its subsidiary organisarion
BIEA Kenya on a line by line basis.
JUDGEMENTS Ir4 APPLYIIYG ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATIOiY
UNCERTAINTY
The preparation of th¢ finan¢ial stat¢m¢nts requires management to make jiidgments, estimates and assumptions
that affect the amounts reported for assets aiid liabilities as at the balance sheet date and the aniounts reponed for
reveiiues and expenses during the year. The nature of estimation means th¢ actual outcomes could differ from
those estimates.
The key Source of estiTnation uncertainty that could have an impact 01) the finaiicial ststemeiits relates to the
decision to Iiot capitslise the heritagTe asset. Note Id) above gives the explaiiatioii for this while iiote 9 provides
more infoTmatioii about the asset itself.
FRS 102 niakes tl)e distinction betweeii a group plan and a Inulti-eniplo)'er scheme. A group plaii consist5 of a
collection of entities under con)mon coi)trol typically with a spoi)soring en)ployer. A multi-employer scl)en)e is a
scheme lor entities not under comn)on control and represei)ts (typically) an industrv-wide stheine sueh as
Universities Superannuation Scheme. The accounting for a multi-en)ployer gtheine where the en)plo)ier has
ei)tered into ai) agreen)ent with the scheme that determii)es l)ow the employer will I'und a deficit results in the
recogt)itioi) of a liability for the contributions pa)iable that arise from the atsreement (to the extent that they relate
to the deficit) and the resulting expense in prolit tsr loss in accordance with section 28 01. FRS 102. The trustees
are satisfied that Universities Superannuaiion Scheme meets the definition of a multi-employer scheme and has
Iherefore recognised the discounted fair value of Ihe contractual contributions under the reclivery plan in existence
ai the date of approving the financial statements.
16

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Companv Limited b) Guarantee not having a Share Capital)
NOTES TO THE ACCOUNTS
YEAR EP4DED 31 MARCH 2021
INCOMIIYG RESOURCES
2021
Unrestricted
2021
Unrestricted
(Designated)
2021
Restricted
2021
Total
2020
Total
) Grants and donations
British Academy grants
Other grgnts aiid donations
538,137
144,921
683,058
538,137
171,578
709,715
467,467
61,940
529,407
26,657
26,657
b) Ini'estment Income
Bank interest
Income from investments
184
184
12,312
12,429
184
12,619
12.80i
Incoming resources are substantiallv generated within the UK.
17

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Companv Limited b) Guarantee not having a Share Capital)
NOTES TO THE ACCOUNTS
YEAR EP4DED 31 MARCH 2021
EXPENDITURE ALYALYSIS
Unrestricted
eneral
Fund
Unrestricted
Designated
Funds
Restricted
Funds
2021
Total
2020
Total
Cost of raising funds:
Publicaiion costs
Website upgrade
15.829
3.159
4,600
7,759
18,988
4,600
23,588
18,309
2.436
20,745
15,829
Charitable #ctivities:
Direct ¢ost$:
Conference and workshop
Fieldwork and research costs
Studentship & fellliwship
grants
Salaries and allowances
LibratTr expenses
Aliph project expenses
29,678
52,639
9,657
29,678
55,619
9,657
32,719
54.253
17,422
2,980
11,593
259.296
270,889
305.395
3,090
139,550
139,550
Support eosts:
Rent and uiilities
Repairs and maintenai)te
General expenses
Transpon and travel
Depreciation
Se¢urit}'
Provident funds
Flireign exchange (gain) I loss
Other costs
1,268
7,867
41.245
2,113
8.629
47,438
6,892
22,361
13,937
33,949
(438)
li,917
9.469
49.141
9,714
21,477
15,208
11,342
(4,2571
20.8(M)
762
6.193
6,892
6,358
5,575
22,067
(4381
2,586
13,417
8,362
11,882
Governance costs:
Staff costs
Audit and accouniancy fees
Trustee expenses
Legal fees
225
226
24,924
451
24,924
6,005
3.260
5,895
26
40
66
63,078
2,586
600,051
665.715
606,073
Included within fieldworklresearch costs are grants awarded to 30 12020 . 32) individuals for specific periods.
Tlie amounts shown within studentships and fello￿shIpS related to grants awarded to 14 (202Q.. 7) individuals during the year.
18

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Companv Limited b) Guarantee not having a Share Capital)
NOTES TO THE ACCOUNTS
YEAR EP4DED 31 MARCH 2021
STAFF COSTS
2021
2020
Salaries and allowances
272.485
292,661
Naiional insurance
4,322
6.104
Pension contribution
(5,466)
12.634
Provident lund for local Kenya staff
33,949
11.342
305,289
322,741
Number of staff - GrLIUP
Number of staff - UK
No employees ¢arn¢d a salary over £60,000 per annum in this or th¢ prior year.
Th¢ Director and Kenyan Director manage the institution on behalf of the council gnd represent key management. The
total remuiieration includiiig all salaries, pension contribution5. allowances and other costs was £78,157 12Q20.. £89,792).
GOVERNING COUNCIL AND RELATED PARTY TRANSACTIONS
The member5 of the Governing Council received no remuneration in respect of their duties. One (2020.. 11) were
reimbursed expenses totallin¥ £168 during the year (2020.. £3,260) in relation to tiavel and aLcominodation. No donations
from members of Govetniiig Council (?020.. No￿e). Oiie reseaich giant for £ 1,000 (2020 ..£nil) w'as given tts a niember
of tl)e council.
The Institute's research centre and library is located in Nairobi, n)anaged and staffed there by our subsidiary organisation
BIEA Kenya which is constituted as a Kenj'an Non-Governmental Organisation (NGO). During the year the UK
transferred 40million Kenyan Shillings (2020.. 43million Kctryan Shillinxts} 10 BIEA Kenya io fund operaiions.
There were no other related party transaction in the period (2020.. Nong).
AUDITORS AND ACCOUNTAIYTS, REMUNERATION
The auditors charged £24,924 1?020.. £24, 751} in respect of the audit of which £5,119 12020.. £'10,893) related to the audit
of the branch in Nairobi. Accounting charges paid to the UK auditors amounied 10 £6.000 12U20. £6,OUO) during the year.
In addition. they w'ere paid £492 (2UIg." £480) in relation to payroll services.
GROUP FINANCIAL STATEMENTS
Th¢ financial statements consolidate the results of the Instityte and its subsidiary BIEA Kenya. A separate Ststem¢nt of
Fiiiancial Activities and Statement of Cash Flows is not presented for the UK charitable company because the charity has
taken advantage of the exemption in S408 of the Companies Act 2006. The chgritable company's net inovem¢nt in funds
for the year amounted to a surplus of £208,494 (2020 deficit of £10,608).
19

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company Limited by Guarantee not hal'ing a Share Capital)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2021
TANGIBLE FIXED ASSETS
Computer
Equipnient,
Fixtures
Fittings &
Equipni¢nt
L&a$ehold
Land and
Buildings
Motor
Vehicles
Total
Group
Cost
Balance brought forward
AdditiOl15
335,494
69,933
405.427
137,793
14,611
152.404
114,359
587,646
84,544
672,190
Ai 31 March 2021
114,359
Depreciation
Balance brought forward
Charge for year
At 31 March ?021
115.041
10.923
125,964
120.977
11.4)8
132,415
114,359
350,377
22,361
37? 587
114,359
et book value
At 31 March 2021
279.46?
19,989
299,452
At 31 March 2020
220,453
16,816
237,269
Company
Cost
Balance brought forward
Trai)sfers
Additions
At 31 March 2021
335,494
10,992
346,486
69.933
405,427
5.356
16,348
75,289
421,775
Depreeiation
Balance brought forward
rra115fer5
Charge for year
Ai 31 March 2021
115,041
9,312
124,353
10,923
125,964
1,977
11.288
12,900
137,252
Net book value
At 31 March 2021
279,463
5,060
284,523
At 31 March 2020
220,4)3
1,680
222,133
Durii)(T the year ended 31 March 2000 the Haycock Memorial Fund admii)istered by the Institute acquired a 46-year
leasehold ii)terest {expirii)g on 31 Jul> 2046} ii) the property occupied by the Institute.
20

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company Limited by Guarantee not hal'ing a Share Capital)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2021
TANGIBLE FIXED ASSETS (Continued)
During March 2010 the properN in Nairobi was valued by Knight Frank using the Investment method of valuation. The
market value at the date of valuation was £75 million Kenyan Shillings which ￿a$ approximately £640,000. This
valuation is nL)t incorporaied into these accounts.
Th¢ Institute holds a library of books in Nairobi which are considered to b¢ a heritage asset. No professional valuation
of the library has been made and Governing Council consider it is not cost effective to obtaiii such a valuation. As a
result, no value for the library has been iiicluded in these accounts. The costs borne by the Institute in forniing the
library of books in Nairobi are written off annually as they arise unless ther¢ are material acquisitions.
Tlie Institute maintain5 at its Nairobi base a research aiid reference library, unparalleled in the region, with holdings of
books, jOUTnals, off-priiits, theses, and 'gFrey" literature covering African land especially eastern African) history,
archaeology. ethiiog5raphy and related subjects. The Library CU￿entlY Iiolds approximately 5,000 books, alongF with
complete or near-complete runs of soine 80 specialist jOUTnals totalling over 3.860 iiidividual voluTnes. Additional
n)aterial includes some 6,500 off-prints, c. 75 uiipiiblished dis5ertationsltheses and an extensive collection of Tnap5 of
the region. The librdry is open to all n)embers wishii)g to use it.
All asgets are used in the direct charitable activities of the company.
io
INVESTMENTS
2021
2021
2020
Group and Company
C05t
306,286
22,210
Valuatio
339,530
22,210
Valuation
351,436
5,797
Balance brought forward
Additions
Disposals
Realised gainslllosses)
Unrealised gainsl{Iosses)
73,779
{17,703)
Balance at 31 March 2021 listed investments
328,286
435,519
339,530
Consisting of:
LIs￿d investments
435,519
339,530
Invesiment c&sh
9,600
i49.130
4J5,519
2021
2020
Details of material investments held at the end of the financial year are as follows..
Sarasin Class A Income
435.519
339.530
The investments belong to the designated Haycock Memorial Fund.
All investments fall within the narrow range investments as defined by the Trnstees Investment A¢t 1961 and are held
in accordance with the pom'er5 of the Trustees of the conipany.

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company Limited by Guarantee not hal'ing a Share Capital)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2021
DEBTORS
Group
2021
Company
2021
Group
2020
Cornpanv
202
Prepayments & sundry debtors
122,266
81,533
i8,033
4,739
12
CREDITORS
Group
2021
Compk)ny
2021
Group
2020
Comparty
2020
Other credirlirs and accruals
303,042
?45,328
281,409
176,139
13
PROVISION FOR LIABILITIES
Group
2021
Company
2021
Group
2020
Company
2020
Provident Fund
Balance brought fO￿ard
Transfers
Movement for the y'ear
Balaiice at 31 Marcl) 2021
49,947
52,431
52,431
{52,431)
84,825
49,947
Provision for USS Deficit
Balance broiight fon¥ard
Movement for tlie year
Balance at 31 March 2021
46,208
19,S55
26,353
46,208
19,855
26,35)
46,093
46,093
46,208
46,208
Total provisions caffied forward
26,353
96,155
46,208
14
PENSIOIY COMMITMENTS
Provident Fund
The provident fund has been set lip to provide g ￿nd for Kenyan local employees to be paid on their retirement a sum
based on their reniuneration and Icngth of service. An amount is charged / (cr¢ditedl to the SOFA annuall), to ensure
the fund is sufficient for the emplo}'ccs employed ai the year-end.
22

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company Limited by Guarantee not hal'ing a Share Capital)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2021
14
PENSIOIY COMMITMENTS (continued)
Universities Superannuation Scheme
The tlltal cost charged to the profit and loss accouni is shown in note 13.
Deficit recovery contributions due within one year for the institution are £2:580 (202Q.. £3.098).
The latest available completed ac￿arial valuation of the Retirement Income Builder is at 31 March 2018 (the valuation
date), which was carried out using the projected iinit method. A valuation as at 31 March 2020 is undenvay but not vet
complete.
Since the ii)5titution cai)not identify it5 Share of USS Retirement Income Builder (defined benefit) assets and liabilities,
the following disclosures reflect those relevant for those assets and liabilitie5 as a whole.
The 2018 valuation was the fifth valuation for the schenie under the schenie-specific funding rebFiine introduced by the
Pensions Act 2004. which requires scl)en)es to adopt a statutory funding objective, which is to have sufficient and
appropriate assets to cover their technical provisions. At the valuation date. the value of the assets ol. the scheme w'as
£63.7 billion and the value of the scheme's technical provisions was £67.3 billion indicating a shortlall of £3.6 billion
ai)d a funding ratio of 95 1..
The key financial assumptions used in the 2018 valuation are described below. More detail is set out in the Statement
of Funding Principles.
Pension increases (CPI)
Temi dependent rates in line with the difference between the Fixed Interest and Index
Linked yield curves. less 1.3010 p.a.
Discount rate (forward rates) Years l-l O.. CPI + 0.14 /0 reducing linearly to CPI- 0.73 %
Years 11-20.. cpl + 2.520/0 reducing linearly 10 CPI + 1.550/0 by year 21
Years 21 +.. CPI + 1.55 /0
The main demographic assumption used relates to the mortality, assumptions. These assumptions are based on analysis
of the scheme's experience carried oui as parr of the 2018 actuarial valuation. The mortality assumptions used in these
figures are as follows..
2018 valuation
Mortalit), base tsble
Pre-retirement..
710/0 of AMCOO (duration O) for males and 1120/0 of AFCOO (duration O) for females
Post-retirement..
97.6Q/o of SAPS SINMA"light" for rnales and 102.7010 of RFVOO for females
Future improvements to mortality CMI 2017 with a smoothin¥ paraineter of 8.5 and a long tetyn iinprovement rate
of 1.8Q/o pa for males and 1.6Q/o pa for females.
23

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company Limited by Guarantee not hal'ing a Share Capital)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2021
14
PENSIOIY COMMITMENTS (continued)
The current life expectancies on retirement at age 65 are..
2021
2020
Males currently aged 65 (years)
Females currently aged 651}'ears)
Males currently aged 45 (years)
Feinales currently aged 45 (years)
24.6
26.1
26.6
27.9
24.4
25.9
26.3
27.7
A new delicit recovery plan ivas put in place as part of the 2018 valuation. which requires payinent of 2 10 of salaries
over the period l October 2019 to 30 Sepien)ber 2021 at which point the rate will increase to 6/. Tl)e ?021 deficit
reLowery liability retlectg this plan. The liability figures have been produced using the following assumptions..
2021
2020
Distount rate
Pensionable salary growth
1.75°/0
3.00°/0
1.75/0
3.00/0
24

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company Limited by Guarantee not hal'ing a Share Capital)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2021
15
UNRESTRICTED DESIGIYATED FUNDS
Haycock Memorial Fund
The Haycock Memorial Fund is to be used for the general purposes of the Institute. The wishes of the Haycocks were
Ihat it should be used in the advancemeni of studies (including in particular linguistic studies} of the Ancient Meroitic
Stale of Nubia as far as possible, glthough no specific trust was created this respect.
Haycock
Memorial
Fund
2021
Total
2020
Total
Incoming re50urce5
Imvesiment income
12,619
12,619
12,312
Resourees expended
Depreciation
2,586
2,586
2,586
Net incomingl (outgoing) resources before
transfers
10,003
10,003
9,726
Net Incolnin￿ {outgoing) resources after
transfers
Gaind losses on investments
10,003
10,003
9,726
73,779
73.779
117.7961
Net movement in year
83,812
83,812
{8,0701
Balance brought forward
602,385
602,385
610,455
Fund balance as at 31 March 2021
686,197
686,197
602,385
Represented by.. -
Tangible fixed assets
Fixed asset investments
Current Assets
63,501
435,519
187,177
686.197
63,501
435,519
187,177
686.197
66,087
349,130
187.168
602,J85
25

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company Limited by Guarantee not hal'ing a Share Capital)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2021
16
RESTRICTED FUP4DS
Nairobi
Report
Grant
Aur¢lius
Trust
Grant
Aliph
Project
Grant
Academy
Grants
Tot81
Balance at l April 2019
648
3,000
3,648
Incoming resources
Grants and
donations
467,467
467,467
Resource5 expended
{458,030}
1458,030)
Transfers be￿.c£￿ funds
19,437}
(9,437)
Balance at l April 2020
648
3.000
3.648
Incoming resources
Granis and
donations
Resliurces expended
538,137
144.921
683,058
{468.260}
(139,550)
1607.810)
Transfers between funds
(69,877)
(69.877)
Balance at 31 Mareh 2021
fv18
?,000
5.371
9,019
The value of these funds is held within current assets.
The Institute has received spe¢ifi¢ ￿ndIng in relation to the following proj¢rts'.
British Academy Grants- this includes three elem¢nts'.
BIRI this is to suppon the core objectives of advancing research excellcnce in Eastern Afric
strengthening policy making, enga£ing with the public, pronioting internationalism and continiied
devclopmeiit of enabling mechanisms.
b. Busii)ess Development- thi5 IS to support tnaximi5ation of commercial operations, research funding
and to assist lonu_tertn efficiencie5.
Contingency- this is an additional grant linked to BIRI and follows the saTne spend goals.
2. Nairobi Report Graiit- fundingF totalliiig £25,000 was received in 2011 which wa5 in part Used to fund a
conference held in Nairobi. The balance of the fund is being used to iinprove the BIEA webslte.
Aurelius Trust Grant- awarded to Professor John Harrington and others to allow them to archive the papers
of the constitution of Kenya Review Con)mission.
4. Aliph Project Grai)t - funding awarded for the implemei)tation ol. pieventative and en)ergency protection
programs for culiural property in danger of destruction. damage or looting on account of arnied conflicL and
to contribute to the rehabilitaiion of such property.
26

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company Limited by Guarantee not hal'ing a Share Capital)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2021
17
TRANSFERS BETWEEN FUNDS
During the year £nil was Iransferred to the General Fund from the HaycLKk Memorial Fund (201Y.. £nil).
During the year £69.877 (2020.. £9,437) was transferred to the General Fund from the British Academy Grants for
aniounts spent on fixed assets.
18
CONTROLLING PARTY
Th¢re is no Controlling party in this or the prior yegr.
19
FINANCIAL INSTRUMENTS
2021
2020
Financial agset5
At fair valuc through profit or loss
435,519
339.530
Financial liabilitie5
At amortised cosi
7,071
10.435
Finaiicial assets at fair value through prolit or loss comprise listed investments.
Financial liabilities measured at amortised cost comprise Lither creditors.
20
LEASE COMMITMENTS
The Institute leases premises in Kenya under an operating lease- the future lease payments due are as follows..
2021
Shs
2020
Shs
Falling due within one year
Falling due between one and five years
70,000
2,030.700
70,000
2,030,700
27

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company Limited by Guarantee not hal'ing a Share Capital)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2021
21
COMPARATIVE SOFA & NOTES
Total
Funds
2020
Unrestricted
Funds
Designated
Funds
Restricted
Funds
Incorne aThd endowmeNt5 from.
Donations and legacies".
Grants
Subscriptions
Charitsble activities..
Publications
Guest house incts￿¢
Other trading activitie5'.
Rent
Vehicle income
Jnvestment income..
Interest on bank
Investsnent income
Other income..
Miscellaneous
61.940
6,721
467.467
529,407
6,721
11,350
9,151
11,350
9,151
53,106
3,768
53.106
3,768
3b
12,312
12.312
7,414
153,567
7,414
633,i46
Total
12.312
467,467
Expenditure on.
Raising funds
Charitable activities
14,160
152.042
166,202
6.)85
451,445
458.030
20.745
606,073
626.818
2.586
Total
Realised gains l {Ios5es) on
investment5
Unreali5ed gains l (losses) on
investment5
(17,796)
(17.796)
Net income l(expenditure)
(12,635)
(8,070)
9.437
111,268)
Transfers between lunds
9,437
(9,437)
Total movement in funds
(3,198)
(8.070)
111.268)
Total funds brougl)t forward
35,146
610,455
3.648
649,249
Total fund5 carried forward
31.948
602.J85
3,648
637,981
28

DoGuSvJn Envelope ID". 8DC25F55-02924D49-9EFB.72A6513790F2
THE BRITISH INSTITUTE IN EASTERN AFRICA
(A Company Limited by Guarantee not having a Share Capital)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2021
21
COMPARATIVE SOFA & NOTES (continued)
Vnr¢stricted
General
Fund
Unrestricted
Designated
Funds
Restricted
Funds
2020
Total
Cost ofraising funds:
Publication cosis
Website upgrade
14.160
4,149
2,436
6,585
18,309
2,436
20,745
14,160
Charitable activities:
Direct costs:
ConferenLe and workshop
FieldM."ork and research costs
32,719
54,253
17,422
211,368
3,090
32,719
54,253
17,422
305.395
3,090
Stud¢ntship & fellom'ship grants
Salaries and allowances
Library expenses
94.027
Support costs:
Rent and iitilities
Repair5 and n)aintenance
Geiieral expeiises
Transport and travel
DepTeciation
Security
Provideni funds
(Piofitllloss on exchange
Other costs
5,567
2,427
9,155
5,714
6,005
6,083
7,372
(4,257)
8,350
7,042
39,986
4,000
12,886
9,125
3,970
13,917
9,469
49,141
9,714
21,477
15,208
11.342
(4,257)
20,800
2,586
20,800
Governanee costs:
Staff costs
Audit and 3c¢ountancy fees
Trustee expeiises
Interest
3.303
12,489
1,799
2,358
152,042
2.702
18,734
1,461
3,537
451,445
6,005
31,223
3,260
5,895
606,073
2,586
29