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2022-03-31-accounts

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 2022

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

Contents

Reference and Administrative Information 1
Report of the Governing Council 2 - 5
Independent Auditors Report 6 - 8
Consolidated Statement of Financial Activities 9
Consolidated Balance Sheet 10
Charitable Company Balance Sheet 11
Consolidated Statement of Cash Flows 12
Notes to the Accounts 13 - 29

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

REPORT OF THE GOVERNING COUNCIL

FOR THE YEAR ENDED 31 MARCH 2022

Company Registered Number:

03341342

Charity Registered Number Wales)

1061622 (Registered in England and

Principal address and Registered Office

10 Carlton House Terrace London SW1Y 5AH

Bankers

CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent, ME19 4JQ

Auditors

WMT Chartered Accountants Verulam Point Station Way St Albans, Herts, AL1 5HE

Members of the Governing Council/Directors

Professor Justin Willis (President) Appointed 3 Nov 2021 Dame Professor Henrietta Moore DBE, FBA, FAcSS Resigned 3 Nov 2021 Professor Peter Mitchell FSA (Hon Secretary) Resigned 6 May 2022 Mr Robert Tench (Hon Treasurer) Dr Mpalive-Hangson Msiska Resigned 11 Nov 2022 Dr Iwaleso Omosalewa Salami Resigned 9 Nov 2022 Dr Pedram Rowhani Resigned 9 Nov 2022 RT Hon Mark Jonathon Mortlock Simmonds Dr Michael Jennings Resigned 4 Nov 2021 Professor Paul Lane Resigned 11 Nov 2022 Professor Gabrielle Lynch Dr Stephanie Wynne-Jones Resigned 9 Nov 2022 Dr Ceri Ashley Professor Victor Murinde Dr Reginald Cline-Cole Resigned 9 Nov 2022 Dr Matthew Davies Resigned 9 Nov 2022 Sir Jeffrey James KBE, CMG Dr Adam Branch Resigned 9 Nov 2022 Professor Emma Hunter Dr George Haandishe Karekwaivanane Resigned 9 Nov 2022 Professor Ambreena Manji Dr Lynne Muthoni Wanyeki Resigned 9 Nov 2022 Director Dr Jane Humphris

Director Website

www.biea.ac.uk

1

THE BRITISH INSTITUTE IN EASTERN AFRICA

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

REPORT OF THE GOVERNING COUNCIL

FOR THE YEAR ENDED 31 MARCH 2022

The Members of Council, who are also directors of the company for the purposes of the Companies Act, present their report together with the audited financial statements of the company for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies as set out in the notes to the financial statements, 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 (FRS102) (Second Edition) and comply with the governing document.

This report is a directors’ report as required by the Companies Act 2006.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The British Institute in Eastern Africa is a company limited by guarantee and not having a share capital, incorporated in England and Wales under Registration No 03341342. The Institute is also a charity registered in England and Wales, Registration No 1061622.

The Institute’s research centre and library is located in Nairobi, managed and staffed there by BIEA Kenya which is constituted as a Kenyan Non-Governmental Organisation (NGO).

The Institute is governed by its Memorandum and Articles of Association, as last amended on 21 December 2021.

Members of Council and their interests

The members of the Governing Council are listed on page 1.

The members of Council do not have any interests which are required to be disclosed under 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 Officers (the President, the Vice-President, the Honorary Treasurer and the Honorary Secretary), up to fifteen other persons elected by the Institute’s members and up to three other persons co-opted by the Council. All hold the role of ‘Director’ under Companies House and Charity Commission definitions but are also referred to as Trustees and ‘The Governing Council’ in the Memorandum and Articles of Association. All the Honorary Officers and elected members of Council shall retire from office at each annual general meeting following their appointment, but provided they have indicated their willingness to act and the Institute has not filled the vacancy, they are deemed to have been reappointed unless a resolution for the reappointment is put to the Annual General Meeting and lost.

Members of Council are selected as being knowledgeable in some field of study, or holding some expertise, relevant to the Institute’s work. On joining the Council, new members receive an information pack which includes the Institute’s Memorandum and Articles of Association, and the UK Programme Coordinator circulates relevant information produced by the Charities’ Commission regarding the responsibilities of charity Trustees.

The Council has final authority over all decisions in the Institute, the financial aspects of which are exercised through the approval and monitoring of the annual budget. On occasion, owing to the cycle of meetings, action outside the budget may need to be taken in advance of formal approval. Where circumstances require rapid action, the Officers may approve such action; this must be reported to Council at the first opportunity. The Director, in collaboration with either the Treasurer or one of the Vice Presidents has authority to make purchases or enter into contracts outside the budget to a value not exceeding two thousand pounds and to employ 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 management process to assess business risks and implement risk management strategies. This involves identifying the types of risk the Institute faces, prioritising them in terms of potential impact and likelihood of occurrence, and identifying means of mitigating the risks. As part of this process the Council reviews the adequacy of the Institute’s internal controls. The principal risks identified from this process, together with their planned mitigations are:

2

THE BRITISH INSTITUTE IN EASTERN AFRICA

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

REPORT OF THE GOVERNING COUNCIL

FOR THE YEAR ENDED 31 MARCH 2022

Exchange rate fluctuations between the Kenyan Shilling and the Pound Sterling. All expenditure is monitored on a monthly basis. In the event of significant adverse exchange rate movements, Kenyan budgets will be adjusted and variable costs cut so that they are accommodated within the net sterling funding available to us.

Terrorism events, crime and other physical security threats in Nairobi. We have already put in place a high level of security measures including guards, fencing and targeted staff training. We keep the situation under constant review and have close communications with both the Kenyan authorities and the British High Commission concerning ongoing political developments, and are ready to take further emergency measures as required.

Covid-19 & Brexit. Covid resulted in home working. There has been a considerable loss of revenue from third parties. International travel has now resumed to more normal levels and affected income streams such as events and research are beginning to increase. The impact of Brexit in relation to opportunities for UK-based researchers to continue to compete for EU funding remains unknown.

The Council is pleased to report that the Institute’s internal financial controls in particular conform with guidelines issued by the Charity Commission.

The Director and Kenyan Director comprise the key management team who manage the Institute on behalf of the Trustees. The Director is a mid-career academic formerly at University College London directly employed by the Institute. The Kenyan Director is a Kenyan academic recruited as a direct employee of the Institute. Her remuneration level was set through our review of the market remuneration rates for comparable academic roles in Nairobi at the time of her recruitment.

OBJECTIVES AND ACTIVITIES

The Institute promotes research in the humanities and social sciences across eastern Africa, together with the dissemination of knowledge in these fields.

The Council has identified four aims which are integral to this role: (1) direct research and the facilitation of research; (2) the building of the research community; (3) the development and facilitation of research collaborations; and (4) dissemination of the results of research and public engagement.

The Institute issued two calls for proposals for thematic seed-corn grants in the following areas: Retelling the Past; Knowing Environments; Citizens and Science; Technologies of Politics; Urban Lives; Epidemics, pandemics and epizootics. 21 Thematic Grants were awarded during the year. Grant proposals are considered by a committee consisting of two members of the research committee, the Director, Assistant Director and one or more research fellows, on behalf of the Governing Council. Several other types of research grants were also awarded throughout the year, including 3 postdoctoral Writing Fellowships, 2 Research Dissemination Grants, and ad hoc research support such as funding to deliver an online open access course in archaeological illustration, and funding to support radiocarbon dating for research taking place in Africa.

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 topics including land ownership, archaeology, law, politics and agricultural development. The Institute assisted visiting researchers by providing advice on research projects and by providing appropriate equipment. A growing number of researchers used our library and were assisted by the Institute’s graduate attachees during their fieldwork. In addition, research projects run by academics from the UK and elsewhere were affiliated to and supported by the Institute during the year. A busy programme of dissemination events took place at the Nairobi base this year, including public lectures, workshops and book launches. Our activities and outcomes are measured in a full set of Key Performance Indicators, which are agreed with our principal sponsors the British Academy and the UK Department for Business, Energy and Industrial Strategy. These include the numbers of research projects and papers, research events such as conference and seminars, numbers of scholars assisted, usage of our library and key measures of cost effectiveness. Full details of the Institute’s activities during the year are provided in our separately published Annual Review.

3

THE BRITISH INSTITUTE IN EASTERN AFRICA

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

REPORT OF THE GOVERNING COUNCIL

FOR THE YEAR ENDED 31 MARCH 2022

A fundraising campaign was planned for the year 2020 – 2021, designed to target fund raising to support specific activities in Nairobi for the benefit of knowledge sharing, educational dissemination and network development. Due to Covid this was postponed to 2021 – 2022, but fundraising activities were again postponed due to the ongoing pandemic. The commencement of the war in Ukraine towards the end of the financial year and resulting economic crisis means pursuing fundraising will be further postponed.

FINANCIAL REVIEW

PLANS FOR FUTURE PERIODS

The BIEA has committed itself to our longer-term ambition to ensure that we fully realize BIEA’s potential – as the only UK-funded centre for research in humanities and social sciences in Africa with a physical based on the continent- to support research across the continent. Over the last ten years it has broadened its disciplinary reach across the social sciences and humanities, and it has done so through a deliberately targeted strategy in terms of its thematic research grants, its attachment scheme, and its fellowship schemes, as well as the research events, workshops and conferences that it facilitates and, equally importantly, its publications portfolio and strategy. The establishment of the Journal of Eastern African Studies (JEAS) is a particular success, complementing the BIEA’s flagship east African monograph series and the well-established journal Azania: Archaeological Research in Africa. JEAS continues to grow from strength to strength, demonstrating how the BIEA has convincingly and credibly spread its interdisciplinary reach across the social sciences and humanities over the last decade. Over the next ten years, the BIEA’s priorities are to continue forging new productive links, networks and partnerships across the continent as a whole, beyond the wider eastern African region in which it is already very well established. It is a very appropriate time to take on this challenge because the shape of international research partnerships, agendas and priorities in African Studies are changing, both with the growing influence of BRIC countries, and their growing interest in Africa, and as African scholars increasingly seek to forge new lines of collaboration across the continent first, and with BRIC countries second, ahead of older country-specific linkages with European and North American partners. The BIEA’s location at one of the continent’s key regional hubs, and with its widely recognised and respected history at the heart of scholarship on Africa, means it is uniquely placed to promote the continued development of UK research in and on Africa for future decades.

4

THE BRITISH INSTITUTE IN EASTERN AFRICA

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

REPORT OF THE GOVERNING COUNCIL

FOR THE YEAR ENDED 31 MARCH 2022

EVENTS SINCE THE YEAR END

Other than the continuing impacts of Covid-19 (see Risks above) and the exceptional item provided for in the financial statements, no events have occurred since the balance sheet date which, in the opinion of the Governing Council, need to be drawn to the attention of the members.

PUBLIC BENEFIT

The Institute has paid due regard to the guidance produced by the Charity Commission in relation to the public benefit requirement.

STATEMENT OF GOVERNING COUNCIL’S RESPONSIBILITIES

The Council meets on a regular basis to manage the affairs of the charity.

The members of Council (who are also directors of The British Institute in Eastern Africa for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the members of Council to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The members of Council are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The members of Council confirm that, so far as they are aware, there is no relevant audit information of which the charity’s auditors are unaware. They have taken all the steps that they ought to have taken as members of Council in order to make themselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.

Advantage has been taken of the exemptions available to small companies in the preparation of this report.

Robert Tench Honorary Treasurer Dated: 27 Feb 2023

Justin Willis President

5

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 2022

Opinion

We have audited the financial statements of The British Institute in Eastern Africa (the parent ‘charitable company’) for the year ended 31 March 2022 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).

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:

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 2022

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 :

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:

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 2022

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:

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 Wicks (Senior Statutory Auditor) For and on behalf of WMT

Chartered Accountants and Statutory Auditors

Verulam Point, Station Way, St Albans, Hertfordshire, AL1 5HE

Date: 2 March 2023

8

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 ENDED 31 MARCH 2022

Notes
Income and endowments from;
Donations and legacies:
Grants
3a
Subscriptions
Charitable activities:
Publications
Guest house income
Seminar room hire
Other trading activities:
Rent
Vehicle income
Investment income:
3b
Interest on bank
Investment income
Other income:
Miscellaneous
Total
Expenditure on;
Raising funds
4
Charitable activities
4
Charitable activities
exceptional
4
Total
Unrealised gains on
investments
10
Net income /(expenditure)
Transfers between funds
Total movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
61,138
6,267
12,610
-
1,268
56,797
5,293
-
-
2,637
146,010
7,123
195,207
94,736
297,066
-
(151,056)
27,826
(123,230)
122,095
(1,135)		 Designated
Funds
£
-
-
-
-
-
-
-
-
12,001
-
12,001
-
5,586
-
5,586
9,401
15,816
-
-
686,197
702,013		 Restricted
Funds
£
1,046,270
-
-
-
-
-
-
-
-
-
1,046,270
8,655
1,006,085
-
1,014,740
-
31,530
(27,826)
3,704
9,019
12,723		 Total
Funds
2022
£
1,107,408
6,267
12,610
-
1,268
56,797
5,293
-
12,001
2,637
1,204,281
15,778
1,206,878
94,736
1,317,392
9,401
(103,710)
-
(103,710)
817,311
713,601		 Total
Funds
2021
£
709,715
4,747
17,075
588
-
45,926
900
184
12,619
3,100
794,854
23,588
665,715
-
689,303
73,779
179,330
-
179,330
637,981
817,311

9

THE BRITISH INSTITUTE IN EASTERN AFRICA

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

CONSOLIDATED BALANCE SHEET

AS AT 31 MARCH 2022

Notes
FIXED ASSETS
Tangible fixed assets
9
Investments
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
PROVISIONS FOR LIABILITIES
13
NET ASSETS
FUNDS
Unrestricted General fund
Unrestricted Designated funds
15
Restricted funds
16
TOTAL FUNDS		 £
213,066
261,187
474,253
(375,970)		 2022
£
318,665
456,921		 £
122,266
374,294		 2021
£
299,452
435,519
775,586
98,283		 734,971
193,518
496,560
(303,042)
873,869
(160,268)		 928,489
(111,178)
713,601 817,311
(1,135)
702,013
12,723		 122,095
686,197
9,019
713,601 817,311

Under Companies Act 2006, s454, on a voluntary basis, the trustees can amend these financial statements if they subsequently prove to be defective.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

Approved by the Governing Council on 27 February 2023 and signed on its behalf by

Robert Tench Hon Treasurer President

Justin Willis

Company registration no. 03341342 Charity registration no. 1061622

10

THE BRITISH INSTITUTE IN EASTERN AFRICA

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

CHARITABLE COMPANY BALANCE SHEET

AS AT 31 MARCH 2022

Notes
FIXED ASSETS
Tangible fixed assets
9
Investments
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
PROVISIONS FOR LIABILITIES
13
NET ASSETS
FUNDS
Unrestricted General fund
Unrestricted Designated funds
15
Restricted funds
16
TOTAL FUNDS		 £
154,354
251,593
405,947
(295,023)		 2022
£
298,149
456,921		 £
81,533
317,241		 2021
£
284,523
435,519
755,070
110,924		 720,042
153,446
398,774
(245,328)
865,994
(66,234)		 873,488
(26,353)
799,760 847,135
85,024
702,013
12,723		 151,919
686,197
9,019
799,760 847,135

Under Companies Act 2006, s454, on a voluntary basis, the trustees can amend these financial statements if they subsequently prove to be defective.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

Approved by the Governing Council on 27 February 2023 and signed on its behalf by

Robert Tench Hon Treasurer President

Justin Willis

Company registration no. 03341342 Charity registration no. 1061622

11

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

CONSOLIDATED STATEMENT OF CASH FLOWS

YEAR ENDED 31 MARCH 2022

2022
£
Cash flows from operating activities
Net (expenditure)/ income for the year
(103,710)
Adjustments for:
Depreciation on equipment
25,610
Investment income
(12,001)
(Gains)/losses on investments
(9,401)
(Increase)/reduction in debtors
(90,800)
Increase/(reduction) in creditors
72,928
Increase/(reduction) in provisions
49,090
Net cash provided/ (used) in operating activities
(68,284)
Cash flows from investing activities
Purchase of investments
(11,999)
Purchase of tangible fixed assets
(44,823)
Investment income
12,001
Net cash provided/ (used in) investing activities
(44,821)
Net increase / (decrease) in cash and cash equivalents
(113,105)
Cash and cash equivalents at the beginning of the year
374,294
Cash and cash equivalents at the end of the year
261,189
Cash and cash equivalents is made up of the following:
Cash at bank and in hand
261,187
Cash held as part of investments
2
Total
261,189
Analysis of changes in net debt
At 1.4.21
£
Cash flows
£
Non cash
changes
£
Cash at bank and in hand
374,294
113,105
-		 2021
£
179,330
22,361
(12,619)
(73,779)
(84,233)
21,634
15,023
67,717
(22,210)
(84,544)
12,619
(94,135)
(26,418)
400,712
374,294
374,294
-
374,294
At 31.3.22
£
261,189

12

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

1 ACCOUNTING POLICIES

a) Basis of accounting

The Institute meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets, in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) (Second Edition) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). Advantage has been taken of the exemption in paragraph 1.12 of FRS102 not to prepare a parent company cash flow statement.

The preparation of financial statements in compliance with SORP 2015 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the accounting policies (see note 2).

The following principal accounting policies have been applied:

.

b) Incoming resources

All income is recognised once the Institute has entitlement to the income, it is probable that it will be received and the amount receivable can be measured reliably.

All income is gross without deduction for related expenditure.

Investment income is recognised when receivable based on notification from the investment managers.

Grants for general support, research, scholarships or fixed assets are recognised on a receivable basis and are deferred only when the donor has imposed pre-conditions on the use of the grant.

All legacies and donations are allocated between unrestricted, restricted and endowment funds, depending on conditions imposed by the donors.

c) Resources expended

Expenditure is recognised on an accruals basis as liabilities are incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it related.

Cost of generating funds comprise of the costs associated with attracting voluntary income.

Charitable expenditure comprised those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs have been allocated to activities on a basis consistent with the use of the resources.

Grants payable to students are recognised at the earlier of the date of payment or the date when an unconditional contractual obligation is entered into. Grants are determined by the relevant committees 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

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

1 ACCOUNTING POLICIES (continued)

Exceptional costs are those found to be required after a tax review was carried out in Kenya in November 2022. All exceptional costs are fully charged in the year of expenditure.

d) Tangible fixed assets

Tangible fixed assets, other than heritage assets, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:

Leasehold land and buildings Over the period of the lease Motor vehicles 33.33 % Computer equipment, fixtures and fittings 25 %

The library is considered to be a heritage asset; held and maintained principally for its contribution to knowledge and culture, and as such is not valued in the balance sheet as there is not reliable historical information on its cost and a conventional valuation would be overly onerous to conduct and given the nature and uniqueness of some of the items held might well prove to be arbitrary. 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. Further details are given in note 9.

e) Fixed asset investments

Investments are carried at market value with any unrealised gains and losses being included in the Statement of Financial Activities and allocated between funds.

The cost of management of the investments has been charged to the Statement of Financial Activities.

f) Debtors

Short term debtors are measured at transaction price, less any impairment losses.

g) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand and demand deposits with banks.

h) Short term creditors

Short term creditors are measured at the transaction price.

14

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

1 ACCOUNTING POLICIES (continued)

i) Provision for liabilities

Provisions are made where an event has taken place that gives the institute a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the SoFA in the year that the institute becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

j) Pensions

Staff on UK-based contracts are offered membership of the Universities Superannuation Scheme (USS).

The assets of the scheme are held in a separate trustee-administered fund. Because of the mutual nature of the scheme, the assets are not attributed to individual institutions and a scheme-wide contribution rate is set. The institution is therefore exposed to actuarial risks associated with other institutions’ employees and is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis. As required by Section 28 of FRS 102 “Employee benefits”, the institution therefore accounts for the scheme as if it were a defined contribution scheme. As a result, the amount 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 determines how each employer within the scheme will fund the overall deficit, the institution recognises a liability for the contributions payable that arise from the agreement (to the extent that they relate to the deficit) with related expenses being recognised through the profit and loss account.

k) Financial instruments

The Institute only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as debtors and creditors.

Financial instruments are initially measured at transaction value. They 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 the SoFA.

l) Foreign currency translation

The financial statements are presented in Sterling, which is also the functional currency of the Institute.

The Institute has income and expenditure in sterling and non-sterling currencies and consequently maintains bank accounts in various currencies to facilitate this. The Trustees’ policy is to exchange sterling currency only when the income is certain and the expenditure is foreseeable. Foreign currency transactions are translated into the functional currency using the exchange rate at the date of the transaction. At each period end foreign currency monetary items are translated using the closing rate.

15

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

1 ACCOUNTING POLICIES (continued)

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at periodend exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the SoFA.

Foreign exchange gains and losses that relate to monetary assets and liabilities are presented separately on the face of the SoFA within income or expenditure.

m) Funds

Unrestricted funds are funds which the trustees are free to use for any purpose in furtherance of the charities objectives. Unrestricted funds include designated funds which the trustees have, at their discretion, set aside for specific purposes.

Restricted 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 concern.

o) Basis of consolidation

The financial statements consolidate the results of the UK charitable company and its subsidiary organisation BIEA Kenya on a line by line basis.

2 JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.

The key source of estimation uncertainty that could have an impact on the financial statements relates to the decision to not capitalise the heritage asset. Note 1d) above gives the explanation for this while note 9 provides more information about the asset itself.

FRS 102 makes the distinction between a group plan and a multi-employer scheme. A group plan consists of a collection of entities under common control typically with a sponsoring employer. A multi-employer scheme is a scheme for entities not under common control and represents (typically) an industry-wide scheme such as Universities Superannuation Scheme. The accounting for a multi-employer scheme where the employer has entered into an agreement with the scheme that determines how the employer will fund a deficit results in the recognition of a liability for the contributions payable that arise from the agreement (to the extent that they relate to the deficit) and the resulting expense in profit or loss in accordance with section 28 of FRS 102. The trustees are satisfied that Universities Superannuation Scheme meets the definition of a multi-employer scheme and has therefore recognised the discounted fair value of the contractual contributions under the recovery plan in existence at the date of approving the financial statements.

16

THE BRITISH INSTITUTE IN EASTERN AFRICA

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

3 INCOMING RESOURCES

a)
Grants and donations
British Academy grants
Other grants and
donations
b)
Investment Income
Bank interest
Income from investments		 2022
Unrestricted
£
-
61,138
61,138
-
-
-		 2022
Unrestricted
(Designated)
£
-
-
-
-
12,001
12,001		 2022
Restricted
£
524,156
522,114
1,046,270
-
-
-		 2022
Total
£
524,156
583,252
1,107,408
-
12,001
12,001		 2021
Total
£
538,137
171,578
709,715
184
12,619
12,803

Incoming resources are substantially generated within the UK.

17

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

4
EXPENDITURE ANALYSIS
Unrestricted
General
Fund
£
Cost of raising funds:
Publication costs
7,081
Website upgrade
43
7,123
Charitable activities:
Direct costs:
Conference and workshop
20
Fieldwork and research costs
-
Studentship & fellowship
grants
427
Salaries and allowances
132,355
Aliph project expenses
-
Green Heritage project
expenses
-
Exceptional item
94,736
Support costs:
Rent and utilities
Repairs and maintenance
General expenses
994
1,065
9,088
Transport and travel
5,759
Depreciation
19,093
Security
3,466
Provident funds
5,107
Foreign exchange (gain) / loss
320
Governance costs:
Staff costs
-
Audit and accountancy fees
9,838
Legal fees
7,675
-
289,943		 Unrestricted
Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
3,000
-
2,586
-
-
-
-
-
-
-
5,586		 Restricted
Funds
£
5,841
2,815
8,655
5,362
94,320
11,109
243,071
371,709
143,053
-
4,728
18,446
69,024
-
3,951
10,161
10,367
-
-
20,785
-
-
1,006,085		 2022
Total
£
12,921
2,857
15,778
5,383
94,320
11,536
375,426
371,709
143,053
94,736
5,722
19,510
81,112
5,759
25,630
13,627
15,474
320
-
30,624
7,675
1,301,614		 2021
Total
£
18,988
4,600
23,588
29,678
55,619
9,657
270,889
139,550
-
-
2,113
8,629
47,438
6,892
22,361
13,937
33,949
(438)
451
24,924
66
665,715

Included within fieldwork/research costs are grants awarded to 33 (2021 : 30) individuals for specific periods. The amounts shown within studentships and fellowships related to grants awarded to 18 (2021 : 14) individuals during the year.

Exceptional costs are those found to be required after a tax review was carried out in Kenya in November 2022. The element that relates to the period from 1 January 2018 to 31 March 2022 has been provided for. There will be further costs after the year end for the period from 1 April 2022.

18

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

5 STAFF COSTS

Salaries and allowances
National insurance
Pension contribution
Provident fund for local Kenya staff
Number of staff - Group
Number of staff – UK		 2022
£
316,252
5,608
53,565
15,474
390,899
17
2		 2021
£
272,485
4,322
(5,466)
33,949
305,289
19
2

No employees earned a salary over £60,000 per annum in this or the prior year.

The Director and Kenyan Director manage the institution on behalf of the council and represent key management. The total remuneration including all salaries, pension contributions, allowances and other costs was £88,503 (2021: £ 78,157 ).

6 GOVERNING COUNCIL AND RELATED PARTY TRANSACTIONS

The members of the Governing Council received no remuneration in respect of their duties. One ( 2021: 1 ) was reimbursed expenses totalling £1,080 during the year (2021 £ 168 ) in relation to travel and accommodation. One research grant for £nil (2021: £ 1,000 ) was given to a member of the council. Three donations for a total of £1,268 (2021: £nil) were received from members of the council.

The Institute’s research centre and library is located in Nairobi, managed and staffed there by our subsidiary organisation BIEA Kenya which is constituted as a Kenyan Non-Governmental Organisation (NGO). During the year the UK transferred 53 million Kenyan Shillings ( 2021: 40 million Kenyan Shillings ) to BIEA Kenya to fund operations.

There were no other related party transaction in the period (2021: None) .

7 AUDITORS AND ACCOUNTANTS’ REMUNERATION

The auditors charged £27,665 (2021: £ 24,924 ) in respect of the audit of which £5,553 (2021: £ 5,119 ) related to the audit of the branch in Nairobi. Accounting charges paid to the UK auditors amounted to £6,000 (2021: £6,000) during the year. In addition, they were paid £699 (2021: £492) in relation to payroll services.

8 GROUP FINANCIAL STATEMENTS

The financial statements consolidate the results of the Institute and its subsidiary BIEA Kenya. A separate Statement of Financial 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 charitable company’s net movement in funds for the year amounted to a deficit of £47,375 (2021: surplus of £208,494).

19

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

9 TANGIBLE FIXED ASSETS

Group
Cost
Balance brought forward
Additions
Disposals
At 31 March 2022
Depreciation
Balance brought forward
Charge for year
Disposals
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
Company
Cost
Balance brought forward
Additions
Disposals
At 31 March 2022
Depreciation
Balance brought forward
Charge for year
Disposals
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Leasehold
Land and
Buildings
£
405,427
28,258
-
433,686
125,964
12,656
-
138,620
295,065
279,463
£
405,427
28,258
-
433,686
125,964
12,656
-
138,620
295,065
279,463		 Computer
Equipment,
Fixtures
Fittings &
Equipment
£
152,404
16,565
(8,445)
160,524
132,415
12,954
(8,445)
136,924
23,600
19,989
£
16,348
-
(8,445)
7,903
11,288
1,976
(8,445)
4,819
3,084
5,060		 Motor
Vehicles
£
114,359
-
-
114,359
114,359
-
-
114,359
-
-
£
-
-
-
-
-
-
-
-
-		 Total
£
672,190
44,823
(8,445)
708,568
372,738
25,610
(8,445)
389,903
318,665
299,452
£
421,775
28,258
(8,445)
441,588
137,252
14,632
(8,445)
143,439
298,149
284,523

During the year ended 31 March 2000 the Haycock Memorial Fund administered by the Institute acquired a 46-year leasehold interest (expiring on 31 July 2046) in the property occupied by the Institute.

20

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

9 TANGIBLE FIXED ASSETS (Continued)

During March 2010 the property 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 was approximately £640,000. This valuation is not incorporated into these accounts.

The Institute holds a library of books in Nairobi which are considered to be a heritage asset. No professional valuation of the library has been made and Governing Council consider it is not cost effective to obtain such a valuation. As a result, no value for the library has been included in these accounts. The costs borne by the Institute in forming the library of books in Nairobi are written off annually as they arise unless there are material acquisitions.

The Institute maintains at its Nairobi base a research and reference library, unparalleled in the region, with holdings of books, journals, off-prints, theses, and “grey” literature covering African (and especially eastern African) history, archaeology, ethnography and related subjects. The Library currently holds approximately 5,000 books, along with complete or near-complete runs of some 80 specialist journals totalling over 3,860 individual volumes. Additional material includes some 6,500 off-prints, c. 75 unpublished dissertations/theses and an extensive collection of maps of the region. The library is open to all members wishing to use it.

All assets are used in the direct charitable activities of the company.

10

INVESTMENTS

Group and Company
Balance brought forward
Additions
Unrealised gains/(losses)
Balance at 31 March 2022 – listed investments
Consisting of:
Listed investments
Investment cash
Details of material investments held at the end of the financial
Sarasin Class A Income		 2022
£
Cost
328,286
11,999
-		 2022
£
Valuation
435,519
11,999
9,401		 2021
£
Valuation
339,530
22,210
73,779
340,285
year are as follows:
 456,921
456,919
2
456,921
2022
£

456,919		 435,519
435,519
-
435,519
2021
£
435,519

The investments belong to the designated Haycock Memorial Fund.

All investments fall within the narrow range investments as defined by the Trustees Investment Act 1961 and are held in accordance with the powers of the Trustees of the company.

21

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

11
DEBTORS
Prepayments & sundry debtors
12
CREDITORS
Other creditors and accruals
13
PROVISION FOR LIABILITIES
Provident Fund
Balance brought forward
Transfers
Movement for the year
Balance at 31 March 2022
Provision for USS Deficit
Balance brought forward
Movement for the year
Balance at 31 March 2022
Total provisions carried forward		 Group
2022
£
213,066
Group
2022
£
375,970
Group
2022
£
84,825
9,209
94,034
26,353
39,881
66,234
160,268		 Company
2022
£
154,354
Company
2022
£
295,023
Company
2022
£
-
-
-
-
26,353
39,881
66,234
66,234		 Group
2021
£
122,266
Group
2021
£
303,042
Group
2021
£
49,947
-
34,878
84,825
46,208
(19,855)
26,353
111,178		 Company
2021
£
81,533
Company
2021
£
245,328
Company
2021
£
-
-
-
-
46,208
(19,855)
26,353
26,353

22

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

14 PENSION COMMITMENTS

Provident Fund

The provident fund has been set up to provide a fund for Kenyan local employees to be paid on their retirement a sum based on their remuneration and length of service. An amount is charged / (credited) to the SOFA annually to ensure the fund is sufficient for the employees employed at the year-end.

Universities Superannuation Scheme

The total cost charged to the profit and loss account is shown in note 13.

Deficit recovery contributions due within one year for the institution are £4,183 (2021: £2,580) .

The latest available completed actuarial valuation of the Retirement Income Builder is at 31 March 2020 (the valuation date), which was carried out using the projected unit method.

Since the institution cannot identify its share of USS Retirement Income Builder (defined benefit) assets and liabilities, the following disclosures reflect those relevant for those assets and liabilities as a whole.

The 2020 valuation was the sixth valuation for the scheme under the scheme-specific funding regime introduced by the Pensions Act 2004, which requires schemes 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 of the scheme was £66.5 billion and the value of the scheme’s technical provisions was £80.6 billion indicating a shortfall of £14.1 billion and a funding ratio of 83%.

The key financial assumptions used in the 2020 valuation are described below. More detail is set out in the Statement of Funding Principles.

CPI assumption - Term dependent rates in line with the difference between the Fixed Interest and Index Linked yield

Pension increases (subject to a floor of 0%) – CPI assumption plus 0.05%

Discount rate (forward rates) Fixed interest gilt yield curve plus: Pre-retirement : 2.75%pa Post retirement: 1.00%pa

The main demographic assumption used relates to the mortality assumptions. These assumptions are based on analysis of the scheme’s experience carried out as part of the 2020 actuarial valuation. The mortality assumptions used in these figures are as follows:

2020 valuation

Mortality base table 101% of S2PMA “light” for males and 95% of S3PFA for females

Future improvements to mortality CMI_2019 with a smoothing parameter of 7.5, an initial addition of 0.5%pa and a long term improvement rate of 1.8% pa for males and 1.6% for females

23

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

14 PENSION COMMITMENTS (continued)

The current life expectancies on retirement at age 65 are:

2022 2021
Males currently aged 65 (years) 23.9 24.7
Females currently aged 65 (years) 25.5 26.1
Males currently aged 45 (years) 25.9 26.7
Females currently aged 45 (years) 27.3 27.9

A new deficit recovery plan was put in place as part of the 2020 valuation, which requires payment of 6.2% of salaries over the period 1 April 2022 until 31 March 2024 at which point the rate will increase to 6.3%. The 2022 deficit recovery liability reflects this plan. The liability figures have been produced using the following assumptions:

2022 2021
Discount rate 3.00% 1.75%
Pensionable salary growth 3.00% 3.00%

24

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

15 UNRESTRICTED DESIGNATED 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 that it should be used in the advancement of studies (including in particular linguistic studies) of the Ancient Meroitic State of Nubia as far as possible, although no specific trust was created in this respect.

Incoming resources
Investment income
Resources expended
General expense
Depreciation
Net incoming/ (outgoing) resources before
transfers
Net incoming/ (outgoing) resources after
transfers
Gains/ losses on investments
Net movement in year
Balance brought forward
Fund balance as at 31 March 2022
Represented by: -
Tangible fixed assets
Fixed asset investments
Current Assets		 Haycock
Memorial
Fund
£
12,001
3,000
2,586
5,586
6,415
6,415
9,401
15,816
686,197
702,013
60,915
456,921
184,177
702,013		 2022
Total
£
12,001
3,000
2,586
5,586
6,415
6,415
9,401
15,816
686,197
702,013
60,915
456,921
184,177
702,013		 2021
Total
£
12,619
-
2,586
2,586
10,003
10,003
73,779
83,812
602,385
686,197
63,501
435,519
187,177
686,197

25

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

16 RESTRICTED FUNDS

Balance at 1 April 2020
Incoming resources
-
Grants and
donations
Resources expended
Transfers between funds
Balance at 1 April 2021
Incoming resources
-
Grants and
donations
Resources expended
Transfers between funds
Balance at 31 March
2022		 British
Academy
Grants
Nairobi
Report
Grant
Aurelius
Trust
Grant
Aliph
Project
Grant
Green
Heritage
Project
Grant
£
£
£
£
£
-
648
3,000
-
-
538,137
-
-
144,921
-
(468,260)
-
-
(139,550)
-
(69,877)
-
-
-
-
-
648
3,000
5,371
-
524,156
-
-
369,114
153,000
(496,330)
(648)
(3,000)
(371,709)
(143,053)
(27,826)
-
-
-
-
-
-
-
2,776
9,947		 Total
£
3,648
683,058
(607,810)
(69,877)
9,019
1,046,270
(1,014,740)
(27,826)
12,723

The value of these funds is held within current assets.

The Institute has received specific funding in relation to the following projects:

  1. British Academy Grants – this includes three elements:

  2. a. BIRI - this is to support the core objectives of advancing research excellence in Eastern Africa, strengthening policy making, engaging with the public, promoting internationalism and continued development of enabling mechanisms.

  3. b. Business Development – this is to support maximisation of commercial operations, research funding and to assist long-term efficiencies.

  4. c. Contingency – this is an additional grant linked to BIRI and follows the same spend goals.

  5. Nairobi Report Grant – funding totalling £25,000 was received in 2011 which was in part used to fund a conference held in Nairobi. The balance of the fund is being used to improve the BIEA website.

  6. Aurelius Trust Grant - awarded to Professor John Harrington and others to allow them to archive the papers of the constitution of Kenya Review Commission.

  7. Aliph Project Grant – funding awarded for the implementation of preventative and emergency protection programs for cultural property in danger of destruction, damage or looting on account of armed conflict, and to contribute to the rehabilitation of such property.

  8. Green Heritage Project Grant – Funding awarded to research and produce permanent exhibitions in three community museums of Sudan, drawing attention to the rich archaeological record of Sudan and raising awareness of the effects of climate change on the communities in Sudan and its tangible and intangible heritage.

26

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

17 TRANSFERS BETWEEN FUNDS

During the year £nil was transferred to the General Fund from the Haycock Memorial Fund (2021: £nil).

During the year £27,826 (2021: £69,877) was transferred to the General Fund from the British Academy Grants for amounts spent on fixed assets.

18 CONTROLLING PARTY

There is no controlling party in this or the prior year.

19 FINANCIAL INSTRUMENTS

2022 2021
£ £
Financial assets
At fair value through profit or loss 456,921 435,519

Financial assets at fair value through profit or loss comprise listed investments.

20 LEASE COMMITMENTS

The Institute leases premises in Kenya under an operating lease - the future lease payments due are as follows:

Falling due within one year 2022
Shs
-
-		 2021
Shs
70,000
70,000

27

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

21 COMPARATIVE SOFA & NOTES

Income and endowments from;
Donations and legacies:
Grants
3a
Subscriptions
Charitable activities:
Publications
Guest house income
Other trading activities:
Rent
Vehicle income
Investment income:
3b
Interest on bank
Investment income
Other income:
Miscellaneous
Total
Expenditure on;
Raising funds
Charitable activities
Total
Unrealised gains / (losses) on
investments
Net income /(expenditure)
Transfers between funds
Total movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
26,657
4,747
17,075
588
45,926
900
184
-
3,100
99,177
15,829
63,078
78,907
-
20,270
69,877
90,147
31,948
122,095		 Designated
Funds
£
-
-
-
-
-
-
-
12,619
-
12,619
-
2,586
2,586
73,779
83,812
-
83,812
602,385
686,197		 Restricted
Funds
£
683,058
-
-
-
-
-
-
-
-
683,058
7,759
600,051
607,810
-
75,248
(69,877)
5,371
3,648
9,019		 Total
Funds
2021
£
709,715
4,747
17,075
588
45,926
900
184
12,619
3,100
794,854
23,588
665,715
689,303
73,779
179,330
-
179,330
637,981
817,311

28

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

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

21 COMPARATIVE SOFA & NOTES (continued)

Cost of raising funds:
Publication costs
Website upgrade
Charitable activities:
Direct costs:
Conference and workshop
Fieldwork and research costs
Studentship & fellowship grants
Salaries and allowances
Aliph project expenses
Support costs:
Rent and utilities
Repairs and maintenance
General expenses
Transport and travel
Depreciation
Security
Provident funds
(Profit)/loss on exchange
Governance costs:
Staff costs
Audit and accountancy fees
Legal fees		 Unrestricted
General
Fund
£
15,829
-
15,829
-
2,980
-
11,593
845
762
6,193
6,892
6,358
5,575
22,067
(438)
225
-
26
63,078		 Unrestricted
Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
2,586
-
-
-
-
-
-
2,586		 Restricted
Funds
£
3,159
4,600
7,759
29,678
52,639
9,657
259,296
139,550
1,268
7,867
41,245
-
13,417
8,362
11,882
-
226
24,924
40
600,051		 2021
Total
£
18,988
4,600
23,588
29,678
55,619
9,657
270,889
139,550
2,113
8,629
47,438
6,892
22,361
13,937
33,949
(438)
451
24,924
66
665,715

29