2023-03-31-accounts - British Institute In Eastern Africa

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CONTENTS
		PAGE
Reference and Administrative	Information
Repoit ofthe Governing Council		2-5
Independent Auditors Report		6-9
Consolidated Statement ofFinancial Activities		10
Consolidated Balance Sheet
Charitable Compnay Balance	sheet	12
Consolidated Statement ofCash Flows		13
Notes to the Accounts		14-30

							THLr BRITISIIINSTITUTE	THLr BRITISIIINSTITUTE	THLr BRITISIIINSTITUTE	THLr BRITISIIINSTITUTE	THLr BRITISIIINSTITUTE		IN EASTERN AFRICA	IN EASTERN AFRICA	IN EASTERN AFRICA
						(A	Conipany		Llnibed by Gunrautee				not having		a Sharc Cnpltsl)
							REPORT OFTllg GOVERNING							COUNCIL
								FOR THE YEAR ENDED 31EIARCH							2023
Company	Registcrcd Number:						03341342
ChArity Rcgistcrcd		Nuiubcic					1061622	(Registered			m England	and Wales)
Pitncipal	address and Registered		Omce:				10Carlton		klouse Tenace London				SWIY	3AH
Danke is							CAF Bank
							23 Kmgs	Hill		Avenue	Kmgs Hill
							West Mnllrng			Kent,
							ME194JQ
Audi toiu							KLSA LLP		PKF
							11 Coklbath			Square
							London
							EC1R SHL
Members	ofthc Govcoiing Council/Directors
Professor Juslin Willis (President)
Mr Robert	Terich (Hon Treasurer)															Resigned	on 23 Mar 2023
RT Hon Mark Jonathon Morllock Sinmionds					(Vice President				for External Relations				and Development)
Professor Gabrielle Lynch (Vice President				for		Research)
Dr Ceri Ashley
Professor Victor Murinde																Resigned	on 24 May 2023
SirJetfrey	James KBE,CMG
Professor Enuna Hunter (Hon Secretary)																Appointed	on 9Nov 2022
Professor Ambreena		Manji
Mr Vinod	Mandavia	(Hon Treasurer	and Company				Sccrclary)									Appointed	on 3Mar 2023
Dr Sharath	Srinivasan															Appomted	on 14Dec 2022
Professor Wale Adebannn																Appointed	on 14Dec 2022
Dr Sade Mue																Appointed	on 14Dec 2022
Dr Cedric Dames																Appomted	on 22 Nov 2023
Director						Dr Jane Humphns
Webnlte						www. titnn.		no.		uk

Vinod Mandavia	Justin Willis
Honorary Treasurer	President

							Total	Total
				Unrestricted	Designated	Resh1cted	Funds	Funds
			Notes	Funds	Funds	Funds	2023	2022
Incoiue and cndowmeut		funds from:
Donations and legacies:
	Grants		3a	48,706		639,307	688,013	1,107,408
	Subscriptions			9,303			9,303	6,267
Charitable activities:
	Publications			29,228			29,228	12,610
	Guest house income
	Seniinar room hire			4,653			4,653	1,268
Other	trading activities.
	Rent			65,063			65,063	56,798
	Vehicle income			10,181			10,181	5,293
Investment inconie:			3b
	Interest on bank			199			199
	Investment income				12,052		12,052	12,001
Other	income;
	Miscellaneous			10,467			10,467	2,637
	Gain on disposal			29489			29,489
Total				207,290	12,052	639,307	858,649	1 204,282
Expenditure on:
Raisuig finds			4	4,586		19,371	23,957	15,778
	Charitable activities		4	247,949	2,585	578,468	829,002	1,206,879
	Charitable activities	exceptional	4					94,736
Total				252,535	2 585	597 840	8529611	I 317,393
Unrealised gains on investments			10		(27,335)		(27,335)	9,401
Net income/(expenditure)				(45,245)	(17,868)	41,468	(21,645)	(103,710)
Tmnsfer between funds				25,837		(25,837)
Total	movement in funds			~19.408	~17 868	55,631	~21,645	~103710
Total	funds brought forwmd			(1,135)	702,013	12,723	713,601	817,311
Total	funds carried forward			~20,543	684,145	28,354	691,956	713601

				Notes		2023		2022
					f			f
FIXEDASSETS
Tangible fixed assets				9		331,990		318,665
Investments				10		441,638		456,921
						773,628		775,586
CURRENT ASSETS
Debtors				11	63,443		213,066
Cash at bank in hand					212,659		261,187
					276,101		474,253
Creditors: amounts	falling due within		one year	12	~236637		~373,976
NKT CURRENT ASSETS						39,485		98,283
TOTAL ASSETSLESSCURRENT			LIABILITIES			813 113		873,869
PROVISIONS FOR	LIABILITIES			13		121,156		160,268
NET ASSETS						691,956		713,601
FUNDS
Unrestricted General	Fund					(20,543)		(1,135)
Unrestricted Designated		Fund		15		684,145		702,013
Restricted funds				16		28,354		12,723
						691,956		713,601

				Notes		2023		2022
FIXEDASSETS
Tangible fixed assets				9		309,263		298,149
Investments				10		441,636		456,921
						750,899		755,070
CURRENT ASSETS
Debtors				11	16,383		154,354
Cash at bank in hand					5,481		251,593
Creditors: amouuts	falling due within		one year	12	21,864 ~46.122		405,947 ~295 923
NET CURRENT ASSETS						~24,258		110,924
TOTAL ASSETS LESSCURRENT			LIABILITIES			726,641		865,994
PROVISIONS FOR	LIABILITIES			13		64,038		66,234
NET ASSETS						662,603		799,760
FUNDS
Unrestricted General	Fund					(49,895)		85,024
Unrestricted Designated		Fund		15		684,144		702,013
Restricted funds				16		~28 354		12,723
						662,603		799 7613

						2023	2022
							f.
Cash flows from operating activities
Net (expenditure)/ income	for the	year				(21,645)	(103,710)
Adjustments for:
Depreciation on equipment						26,576	25,610
Investment income						(12,251)	(12,001)
(Gains)/losses on investments						27,335	(9,401)
(Increase)/reduction in debtors Increase/(reduction) ut creditors Increase/(reduction) in provsions Net cash from/(used in) operating		activities				149,623 (139353) ~39,112 ~8,828	(90,800) 72,928 49,090 ~68,284
Cash flows from investing	activities
Purchase ofinvestments							(11,999)
Purchase oftangible fixed	assets					(40,884)	(44,823)
Investment income Net cash provided/(used	in) investing		activities			12,251 ~28,633	12,001 ~44, 823
Net htcrease/(decrease) in	cash and cash		equivalents			(37,461)	(113,105)
Cash and cash equivalents	at the beginning			ofthe year		261,189	374,294
Cash and cash equivalents	at end	ofthe	year			223,728	261189
Cash and cash equivalents	is made up ofthe			following:
Cash at bank and in hand						212,659	261,187
Cash held as part ofinvestments						2	2
Total						212,661	261,189
					At 01.04.22	Non Cash changes	At3(.03.23
Analysis ofchange in net	debt
Cash at bank and in hand			26U89		~37.4633	(11,067)	212,661

			Unrmtricted	Unrestricted	Rcstrlctcd	2023	2022
			General	Dcslgoated	Funds	Total	Total
			Fund	Fund
Cost ofraising funds:
Publicauon costs			4,586		17,400	21,986	12,921
Website upgrade					I 971 19,371	I 971 23,957	2,857 ~15778
Charitabl activities:
DII'act Sosts:
Conference aud workshop					9,361	9,361	5,383
Fieldwork and research	costs				8t,791	81,791	94,320
Studentslup Bcfellowship		grants			17,876	17,876	11,536
Salaries and alloivances			86,944		304,082	391,026	375,426
Alipli project expenses							371,709
Green Heritage project expenses Exceptional iten&							143,053 94,736
Supl)ol'I costs:
Rent and utilities					11,615	11,615	5,722
Repaus and niaintenancc			422		5,609	6,031	19,510
General expeiises			127,881		38,848	166,729	81,113
Transport aud travel			8,711			8,711	5,759
Depreciaiion			23,991	2,585		26,576	25,630
Security					15,325	15,325	13,627
Provident funds					21,443	21,443	15,474
Foreign cxchauge (gain)/loss					9,689	9,689	320
Governance costs:
Staffcosts
Audit and accountancy	fees				27,052	27,052	30,624
Legal fees			247 949	2585	35779 578468	35 779 829002	7675 ~1301615

		2023	2022
		E
Salaries	and allowances	377,204	316,252
National	insurance	1,3 1 1	5,608
Pension	contribution	12,511	53,565
Provident	fund for local Kenyan staff	21,443	15,474
		432,469	399 999
Number	ofstaff - Group	20	17
Nuinber	ofstaff- UK	2	2

TANGIBLE	F	IXEDASSETS
			Leasehold	Coinputer	Equipment,
			Land and	Furniture		fittings	Motor
			Buildings	and equipment			vehicles	Total
Group
Cost
Balance brought		forward	433,686			160,524	114,359	708,569
Disposal						(1,960)	(114,359)	(116,319)
Additions			25,837			15,047		~0 884
Atend ofyear			459,523			173611		633,134
Accumulated	depreciation
Balance brought		fonvard	138,621			136,924	114,359	389,904
Disposal						(977)	(114,359)	(115,336)
Charge for the	year		13,953			12623		26,576
At end ofperiod			152 574			148,570		301,144
Net book value		st end ofyear 2023	306,950			25 041		331,990
Net book value		at end ofyear 2022	295,065			23,600		318665
Company
Cost
Balance brought		fonvard	433,686			7,903		441,588
Disposal
Additions			25,837					25 1137
At end ofyear			459,523			7,903		467,425
Accumulated	depreciation
Balance brought		forward	138,620			4,819		143,438
Disposal
Charge for the	year		13,953			771		14,724
At end ofperiod			152,573			5,590		158,162
Net book value		at end ofyear 2023	3116951			2,313		309,263
Net book value		st eud ofyear 2022	295,066			3 084		298 150

				2023	2023	2022
Group and company					g
				Cost	Valuation	Valuation
Balance brought	forward			340,285	456,921	435,521
Additions						11,999
Dividend income		received			12,050
Unreal ised gains/(losses)					27,335	9,401
Balance at 31 March 2023 - listed investments				340,285	441,636	456,921
Consisting of:
Listed investments					441,636	456,919
Investment cash					2	2
					441,638	456,921
					2023	2022
Details ofmaterial		investments	held at the end of	the financial year are as follows:
Samsin Class		A Income			441,636	456,919

11	DEBTORS
				Group	Company	Group	Company
				2023	2023	2022	2022
	Group			f	f.
	Prepayments k	sundry	debtors	63,443	16,383	213,066	154,354
12	CREDITORS
				Group	Company	Group	Company
	Group			2023f	2023f	2022	2022f
	Other creditors and accmals			236,617	46,122	375,970	295,023
13	PROVISIONS	FOR LIABILITIES
				Group	Company	Group	Company
	Provident Fund			2023	2023f	2022 f.	2022
	Balance brought	foisvard		94,034		84,825
	Transfers
	Movement for the year					9,209
	Balance at 31March 2023			57,118		94,034
	Provision for USSDeficit
	Balance brought foivtard Movement for the year			66,234 ~96	66,234 2 196	26,353 39881	26,353 39881
	Balance at 31 March 2023			64,038	64,038	66,234	66,234
	Total provisions	carried forsvard			64038	60, 6	6»4

	2023	2022
Males currently aged 65 (yeais)	23.9	23.9
Females currently aged 65 (years)	25.5	25.5
Males currently aged 45 (years)	25.9	25.9
Females currently aged 45 (years)	27.3	27.3

		2023	2022
Discount Rate		3.00%	3.00%
Pensionable	salary growth	3.00%	3.00%

studies) ofthe Ancient in this respect.	Meroitic State ofNubia as far	as possible, although	no specific trust	was created
		Hnycock
		Memorial	2023	2022
		Funds	Total	Total
		f		f.
Iocomiug resources
Investment income		12,tl3tl	12030	12.0tl 1
Resources expeuded
General expense				3,000
Depreciation		2,585	2,585	2,586
		2,585	2,585	5,586
Transfer
Net incoming/(outgoing)	resources before transfers	9,465	9,465	6,415
Net incoming/(outgoing)	resources before transfem	9,465	9,465	6,415
Gains/losses on invesunents		(27,335)	(27,335)	9,401
Net movemeut in year		~17.870	~17,87tl	18.016
Balance brought fonvard		702,013	702 013	686,197
Fund balance as at 31	March 2023	684,144	684,144	702,013
Represented by:
Tangible fixed assets		58,330	58,330	60,915
Fixed asset investments		441,636	441,636	456,921
Culvent assets		184,170	184178	184.177
		684,144	684,144	702.013

RESTRICTED FUNDS
					Green
	BI'I t Isll	Nairobi	Aurelius	Aliph	Hcritagc
	Academy	Report	Trust	Project	I'rojcct
	Grant f.	Grant f	Grant f.	Grantf	Grant	Totalf
Balance at I April 2021		648	3,000	5,371		9,019
Incooiing resources
Grants and donations	524,156			369,114	153,000	1,046,270
Resources expended	(496,330)	(648)	(3,000)	(371,709)	(143,053)	(1,014,740)
Tiansfer between funds	(27,826)					(27,826)
Balance at I April 2022				2,776	9,947	12,723
Incoming resources
Giants and donations	639,307					639,307
Resources expended	(597,840)					(597,840)
Transfer behveen funds	(25,837)					(25,837)
Fund balance as at31March 2023	15631			2 776	9947	28 354

			2023	2022
Financial	assets
At fair value tlrrough		profit or loss	441636	466 931

2023	2022
Shs	Shs

21	COMP	ARA	TIVE SOFA &NOTES
									Total
					Unrestricted	Designated		Restricted	Fends
					Funds	Funds		Funds	2022
							f.	f.
Income snd endoivment			funds from:
Donations and legacies:
	Grants			3a	61,138			1,046,270	1,107,408
	Subscriptions				6,267				6,267
Charitable activities:
	Publications				12,610				12,610
	Guest house income
	Seminar room hire				1,268				1,268
Other	trading activities:
	Rent				56,797				56,797
	Vehicle income				5,293				5,293
Investment income:				3b
	Interest on bank
	investment income					12,001			12,001
Other	income:
	Miscellaneous				6»				2 637
Total					146,010	12,001		1,046,270	1,204,281
Expenditure on:
	Raising finds			4	7,123			8,655	15,778
	Charitable activities			4	195,207	5,586		1,006,085	1,206,878
	Charitable activities		exceptional	4	94 36				94736
Total					97,066	.	6	1,014,740	1,317,392
Unrealised gains on		investments		10		9,401			9,401
Net income/(expenditure)					(151,056)	15,816		31,530	(103,710)
Transfer between funds					27,826			(27,826)
Total	movement in	funds			30	816		3 704	103,710
Total	funds brought	forward			122,095	686,197		9,019	817,311
Total	funds carried	forward						,7	713.60

			Unrestricted	Unrestricted	Restricted	2022
			General	Designated	Funds	Total
			Funds	Funds
Cost ofraising funds:
Publication costs			7,081		5,841	12,921
Website upgrade			43		2,815	2 857
			7,124		8,656	15,778
Charitable activities:
Direct costs:
Conference and workshop			20		5,362	5,383
Fieldwork and research	costs				94,320	94,320
Studentship 86 fellowship		grants	427		11,109	11,536
Salaries and allowances			132,355		243,071	375,426
Aliph project expenses					371,709	371,709
Green Heritage project	expenses				143,053	143,053
Exceptional item			94,736			94,736
Suppot4 costs:
Rent and utilities			994		4,728	5,722
Repairs and maintenance			1,065		18,446	19,510
General expenses			9,088	3,000	69,024	81,112
Transpon and travel			5,759			5,759
Depreciation			19,093	2,586	3,951	25,630
Security			3,466		10,161	13,627
Provident funds			5,107		10,367	15,474
Foreign exchange (gain) /		loss	320			320
Govetstance costs:
Staff costs
Audit and accountancy	fees		9,838		20,785	30,624
Legal fees			7,675			7,675
			289943	5586	1006086	1301,614