2025-03-31-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 2025

I'Hf. BRITISH INSTITUTE IN EASTERN AFRtC'A {A Company Limited by Cuai'antee not having a Sh%re Cai)ital) CONTENTS PAGE Refei'eiice ￿ld Adtiiinistralive Infoi'mation Repoit of11)e Govei'iiing Cniincil Independent exaiiiiner's Repoit Consolidated Stateiiient of fiiiancial Activilies Consolidated Balaiice Sheet 10 Cliai'ilable Coinpany Balance slieet 11 Coiisolidated Slatement ot Cash F*lows 12 Notes 10 the Accounts 13-27

-HTr. IIRITJSFI JIYS I'II"IITF. IN E4S'I-EIINI' AnlVCA (,1 c.-omibi￿)' Lititiled b}. Cyllarniiltt nol liAI'inR a Shxjy L4pii#ll IIEPORT OFTHK GOIIF.ftYI IN(: COUNCIL I,-OR THE I"L4R gNI)F.T) 31411.4RCFI 21)•5 Cuii)paJiy Re%istei'￿il INiiniber: 0334134? l.'lJai'lty Regbiti'td Niiinbei.: lo616￿ (Re8iSttted in England and IV&les) 10 CaTI￿) Hous¥ Terract IAMidon S￿j IY JAII Lthidon E145HP lii(Icp¢nJeiil ¢xkinlHei' KLSA LLP 11 Coldbalh Squar London EC1R 5HL P*leiiibei's uf tlie CvO%'ei'nln¥ Cullii¢llll>ii'etlo Professor lusiii) Willi% IPresJdenii li'l. Hort M8rk Jnnathon Mort)￿k Simmonds (Vi¢e Prcsideni foi Ex¢emal RelMion8 and Developmiiiii l)r Sharaih SrinivasN51 IVi¢¥ Pre8Mletii foT ￿5$eArchI Mr Viiiud M8iidai'ih Illoii-I'¥e4surer aiid Cthn)wiiy Secf¢thryl l>rolessor Iiiiiiid Hiinier IHoii.8eir¢thrJ'l P¥ote%s01 ti41bi'iellc. l.J'ncli Protessor Amliiie¢)a fv1ai)ii Pi'()feisor Ivaie AdelMIi%vi Dr Cei'l Aslil¢y Di, Cediic finriies Mi. Sgiijetv (ilLP Rcsigned 26 Marcli 2Q25 Resi8ned 17 Sepleniber 2025 Aptx)inlLd 06 Noveiiiebr 2024 Dlr•ctor Dr Rthl IbiY¢k Wob81te Mv.blea.ac.uk Page 3

I'HE BRITISH I,NSTITLTC IIN EIISTERN AbRICA {A Conii)Aiiy Liniited by Guai'antee iiot Iifii'iiig a SlIAI'e Caiiital) REPORT OF THE GOVERNING COUNCIL FOR THE YEAR ENDED 31 fvltlRCH 2025 Tlie In¢iiil)e15 1i1.ihe Gnvlrning Council ol Ilic Ilrili511 11151ilut¢ iji E&%iern Alrica {tlie BIEA), ii'ho aic altsu dii'¢Lthri foj. th¢ pliri)()￿e% {)I'ilie Conipai)ies Act: prcseiit tlicir rcpoiT lYltI) tl)c accounls c7f ihe chfj¢ t'il)p loi tli¥ itr¢ai' cnded 31 MarLlI 2025. TI)c IICLC)Ullts have l)eeii indei)endLtitl%' uxainincd iii a¢¢oi'danc¢ ii'itl? t1￿ (-'IIMritie.% Aci. Tliis ILPL)rt is a l)iieLloi'ts rei)iJrl as liiiiiii'¥d l)y Ili¢ C.i)Inpanie% Acl ?006. ThL BIEA is cstdbljsl￿<1 fi)J' Ili¢ i)ubliL beii¢l Il and its a¢livili¢s sp¢cifricall)p rc51riclcd ic) undenak-ing, pioilioling oiid ei)Lciiii-thgiiig I'ls. l)IitManities aiid sucial SLiei?ees ieseai'cli in (thd oli Alnca. Sti'ucture. Govei'iiAiico, njid Mni)auei)ieiit Tli¢ BIEA is a ¢onipaiiy liniited b) ¥Lthranlee aiid not liaviiig a sharL' capital. iiicorporated in England and Walvs Iindei. Rcgisti'aiioii No 03341342. '1'he IIIP.A is albL) a eharil) regiSte￿d ii) Englai)d aiid Wales: Registralion No 1061622. The ¢liariiy OP¥ratcs in con)pliaii¢e iviil) ils Arli¢les i)fA%soLialion. Ivhich iVLrL lasi w1￿17ded lin 14 DecLiiibLI' 2022, arid tlie cnurteil lakes ffleastsrL'S 10 ci)sufL piiiper o%'¢vsi811i and risk Inunagemenl piDwdu￿s arc ITI plaL'e. 'ri)c B1￿,A,S r¢s¢arch eeiilre. iiiil) IL% librnry ￿)d arcliive, is localed iii NaiiDI)i. wid niai)Aged al￿ slatled ilieit b)1 BIEA IC¢nya Ivliich is Loiisliluled as a Keiiyaii Noii-(iOltriinJeiiiAI Orgniil￿liO1I INtiO). Men)bei'$ of CDui)cil tlieir interests ThL n)ert)EK"I's of the tiovcri)iiiuy CuuiiLil are li.sted beloiv. PIDfcis01' Jiis1iii IVilli.s (Presidenl) R'I. FIoi1 fvlark Ji)nAilion Moi'tlock Sii))nioiids IViLe Ilre%ident fi)r E¥leriial RLlalioiis and I)eve[()pn￿iILj Di. Sliiiath Sriniva%aii {Vice Pi'esid¢iil for Il¢se'Lh) Mr Vii)od Man(lllvici {Hoii'l'rcasLirer uii(I Comi)aiiy Secretary) ProfcsbOI' F,iiinia I lunlei. (141)n 8ecreiar)'I Piofessoi. Giil)rielle Lynch (Vil¢ Pr¢%idcnl for R¢Seli￿h) Pi'afessor An)bieina Manji Pi'ofcssoi. Walc Ad¢banivi DI. CLri Ashley Di. C¢drii Ilarlle Mr Suiijeev CTiiiila 'I'he meimbers ol'coiiiicil do not havL llny inteTcsls ivhi¢h wuiwd kn bc disc1￿￿e￿ under the Conipanies Act 2006. No oiiiinerL'illl iiiAlerinl Lontrncls subsislcd diii'ing ilie period in iihicl) any nicn)IKr of Ciiuniil ￿￿1 ali intercst. Under Ili¢ lei'n)s of Ili¢ Article.8 of Associnlion, Ilic L'.ouncil shull ¢onilil of Honordry OffiLfs (Ilie PresidciiL 8J)d oih¢rb Ii'lio niay be apixTriiited ds Cuuncil delenninei) ai)d Iiih¥r trust¥¥5 UP to In8xiinum ot'iivL'IY¥ tKisoiis el¢ct¢d l)){ Ihe BIEA""s IllLiiIIKr5. All hold tjie l'ol¢ of -"l)ilfLt￿ under Coinpanies Hoiisc aiid Lllarity Coinini>sian detlDilioiis but ar¢ also rel¢iiYd lo as TiiistLLb and '"The (Fovcming Council, iii tlie Ai'tiLl&% of Associalioii. Witli tlie cxcepli(Jn ofihe Prcsidcnl. all ti'iisieeg serve l()r a p¢riod of three )'Lc11'S. and Ill&iy LK r¢elcLted oiiLe for fiirdier ihiie yca15. Tlie l)Irsidenl servLS for a Jxriod of liv¢ years: ai)d may not bL' I'e- elec(ed at tl)c ci)d of tl)at iemi. Meitibers ol'Coui)cil are selectLd as IK"iiig knoii,kdgeable in VA)me field of study. or liolding.8on)e expLi'li&', rLlcvaiit to the BIE.A's ivork. 01) joiliillo tlie Council, i)eiv n)cnibcis rcecive an infoi'matioii pack ii'liicli iiicludes tlie BIEA'S Artick5 OF Associatioll diid cirLulalcd iyith relevanl iftlonnatioii produced by the ch￿'1ileS coll￿niS5101] reoardii¥u Il)e responsibilitics ot ¢hai'ii)' Triist¥CS. 'I'l)e C17unLil his linul aiiihorilj, ovei. all deLiSions iii Ihe BIEA. IIK liiiancial asi)ec(s ol. ii'liich arL CYLrciscd througli tl)e approval and Inoniloring ol tlic al￿￿￿] bLidoct. On o¢casioi), oivino to the c)rle ot Imcctiiios. aclion ouliidi tli¢ biidget Iiia), ii<ed lo be takeii in ddvat)ce ot foiJiMI ai)proval. Wh¢re ciicumqlai)ces r¥qiliii" rapid action. tl)e o￿leL'r5 njay appix)Vi siicll &cliaii,' Uiis inust bc rep(irted lo CoLlI)¢il at ihc tirst opportunity- Page 4

THE BRI'fisH INISTITIITE IN EASTERN AfRIC.A (A C.oiiipany Liiiiiled by Guai'antee iiot IiAvinu a ShAre Capital) Itb:poiii' ofr 'rHF. GOITRNtYG COU J4 'CIL FOR TItt IT.IR ENDED 31 fv1_4RC'H 202.$ The Dii'ecLoi' and Kenya Dii'cclor coniprisc IIIL kL>' nithiiiigLinciil leani ivho nignfjoe Ilie Institutc on bchalt'ot Ihc .1 I'iislees. -I'lie Dii'ecti)r is a UK-l)ii%L'd IMid-C¢il'LLr aLudemiL dii'eLily eniplo)ied by the BIEA on ti 0.8 F"fE. The Ken)'a Dii'eclor 18 a Kellyan aL&deinic reci￿1[ed 8 a direct emi)lo)ILe ol" BILA Kenjia. His rciiiui)ei'aliiin le¥'el ii?s sel Ilirougli oui. I'ClllLiV ol-llie market remunei'ation I'atLs foi. cuinparablc dciidcniiL roles in Nllii'obi ai the time ot"l)is rcci'uiiiiiciit. I'h¢ Dii'e¢lui'. iii ¢(Ill&iboi'alion ii.'iili eitl)er ihe Ti'ea8urei' ()r oiie ol-the Vicc Prcsidei)Is hab authui-il)r ￿ niake puitliases or ei)Lei' inlo conli'auls oulside tl)e hudgel to a v11ue ftiol exceeding livu ihoiisand poiii)ds aiid lo ei))iiloy ienipoi'ai? ai)d ancil liiry, slal'f. Lai-qer i)aynients ouisidc Ihc budget and pL.m7￿nen1 ¥inplo)'meni of staff iiiust receivc pi'ioi. uppruval li'oiii C(iuncil, 'riie Loiincil lias ii)Ii'<)ducL'd a foi'inal risk maDagemenl pr()L&S% L() &8.8es8 business i-isk5 ai)d iinplenienl I'isk Inanageinenl sts'all'gics. -I'liis iniiolve.s identi ljping Llie i),1￿8 of risk Il)e BIEA faLes, prioi'itising tlieni iii leriiis of i)i)Leiilial lim1)1￿ cl aiid likelihood ol OLCLlI'renee, and idenlilying means ul-niiligaling Ilic i-isk5. As pai't of (liis prDce.%% Ilie C'.ounLil rLI'icivs ilie deqiiacy ot'ihe BIEA'S intci'i)al c()nlrols. 'I'lIL' pii'incipal risks ideiiti tied Ir()m thi.g i)rocLss, logcihcr ivitli Iheir planned niili8titioiis al'e= xcliaiige l'ate fluctugtions behveeii tlie IKciiyAu Sliillittg aiid tlie Poull<l Stej'llng All erypcndilure is monitored (Trn a monthly basis. In the event of signitlLanl adveise e¥eliange rote maverrienls. Kei)yai) budgclb Mrill bc Jdjusleil and variable ci)sls cul so that IhLy dll'e aLconiii)odaied iliiihin the iiet sterlii)g lundii)gy availuble l(1 Tei'i'oi'isiii tvenls, eviine niid otlier pliysicAI securily Ilii'eals lil Niirthbl We IiavL ali'cady PLII in place a higl) level o1'8eLllI'lty measures including guurds, fei)eiiig 8t)d IniEeled 8tatl traii)ing. We kecp ilie silualiuii uiidei. cniislaiil I'evieiv ai)d have ¥losc cuinn)uiii¢glions ii'iili both tl)e Kcnyaii auilioritics and the Bi-ilisli 14igh Ci)mmission c(Inceinins (In80iiig wli¢iLal d¢v¢lopm¢nls, aiid are read)J tl) thkc lui1hei' eniei8ertc)' measui'es as I'equii'ed. Tlie Cout)cil is pleased to rcport tliat tlic BIEA'b internal fin8llLial coiitrDls cojifomi ¥viih guidelin&s issued by th¢ Cliarily Loi31111is5ion. Aelilevements gild Pei'formaiiee 'I'he LoLinLil has identified four aims in the pursuit of its ¢hai'itsble objeLtives. Thesc (l) dii'eLt reseai'¢li and the t<?cilitation of Itseaitli. (2) Ilie building of Ihe reseairh cominunity. (3) the developmeni arid facilitalioi) ol'i'cscatL'h coll&bordtions' und {4) dissemination of tlie Irsults of r&search and public engagem￿7¢. Throiighout tlie jic￿. 2024-2), Ihe BIF.A conlinue(I t() suppoit and cwry out innovalive ieseairh: to build I'CSLiirL'I) capacity nd lo promote the (lissemination ot'researcli-based knoii,ledge to aeadeinic aiidience5 and u iYidci- public. Pai'ii¢ii141' higlilighis ol. Ilie >'ear ivere sei-ie5 of iivrk51iops und conferences held in MarLh 202): Ivliicli altogeiliei. dir¥v in dozens of participaiits troni aci'oss tlie region and demonstrated the rwige and dii'ersit}l Llt-the BIEA'S ivorL: oil laiv ai)d developn)eiil ii) eastern Africa. on aitificial intelligcncc politics in FAst Africa- aiid oli the rolc of ui)ii.'eisilies in civil politics in Su(lan and Soiiil) Sudan. -I'he 2024 UK ani)ual lecliire ivas delivet'ed by Professor Alex BeLls, fiDni the Refuuee Studies C.enlre IRSC) at Oxtord UiiiversiLy, rtlleeling the close and succcssful pariiiersliip beiiveen the BIEA and RSC ivhich has btDuolit the Retugee-L.ed Reseai'cl) Hub to the Naiii)bi boSL. I'I)c annual lecture in Kenya was dcliiiLrLxi by PiolesSOI' Kivuiha Kibivanft on 'TaivariLs youth selt-dctciinination.. iiiclusion and socio-econoniiL•cultui'al cinpoNiiei'ment in l<en)Ta'. ThioLigl)out tlie yL&r: Ilie BIFA I'aii 'gi'adLiate foi'um, events at the Naimbi base. pvoviding a space fi)I' earl)'wcarcei- I'C8earclieis to excliange ideas and netivork. Page 5

THE BRITISH IIYSTII'II'I"E JN EASTERN AFRICA (A Coinp#ii)' Limited by Cuxi'Rntee not haviT)g a Sliare Capital) RIPORI. OF THE GOVLIiNINC C.OUl44CIL TrQR'I-IIE I'E.4R F.NDTr-D JI IIIARC.'112D25 Dui'iiig ihc )'car, Ilie BJF.A 2( Isa provided dieinalic gi-aiilb ￿ a lotsl ot-thiitS'_cighi, mosll}' early-cai'eei., It.%eaJL'hei's ILI SLlI)poI'I iheii- 140I'k aiid l)ilpLd iivelve iycenl gi'aduates Itii'o Ii-(Mll the UK and lei) fnyi) easlLI'I) Atric¢il 10 gail) I'eNeui'eh LXl)¥l'lLnLL Ihi-OLigh Ihe gi'iiduiite dtlacliiiiLlli pi'UCTI'aiiinie. The.suppoi't foi. C1£ rly-.Lareei' r&seai'chei's incliidid hi'u slioi't lelloiv8hip% foi. UK-I)<15L¢I s¥li()lui's lo Ii'ai'el to East AlriLa Ici pie%ei)I their I'esewch ftndings tu Loniinunilies ii'iih ivlioin Il)ey il'orktd. BILA iilsu Loiiliiiued i() tund hvo Kcnya posl-docloi'al felloivs ii'.lio liave Loinbined Ilieir ()ii'ii reseairli i¥iil) rL)IL iii enablii)g ai)d .8uppoiiing tl)e re5earcli pi'oJainnies ot'collcthgues based in Ilie lJk and Euro￿. Tlie Council is salisliLd willi tlie Lharit) s i)ei'foi'n)anLC in a¢hieving il.s goal.s aiid e.Y(ends lis gi'alilude ￿ all i)ai'li)ei'8: lui)dLrs, and iioluiiteei's. Fillaiicittl Revleiv To(al iiicon)e foi. IIIC yilll. w&% £884,396: Iiijih e.xpcndilures aiiioiinling lo £X46,606. A dclkiiled bi'eakdoivn of tin$￿1¢1al J¢lii'ili¥> Lan be li)und iii Il)e aiiaclicd aLLounl.%.Council keeps undcr ieviLiv Ihe lei'el ol'general i'LSLrirLS ivhiuli Ilie Institute need5 1() conliiiu¢ 10 opei'ale iiiiihin il% envirMmLllI. AI 31 Mai'eh 2025 iolal rcsei'ves Jniolinled lo £XC)0,277 inLliiiJiiiu £86,334 iY.sii'icled liinils. 'I'ol¢il Iliiids also incliide £743.092 II'hiLh is u desigi)aie(I fiind f()r IhLb giLiierul use of ilie cliai'ity. 'rhi'ou¥lioLiI Ilie yeai. undci. rcwrl, tli¢' ii)ajorily nf the BILA'S ￿￿rVeS were ittveqted in ilie broadly divei'silied Sai'asin aiid Paitiiers Alplia C,omi)ion IIiiTeslment l-.und for LndoiiThenL8. -J-Iic Cuun¢il l)as i'eviewed Ihc charil> b lunding po.sition and concludLd Ihal il remain8 financially suslaiiN)ble toi. Ihe foi'eseeable futui'c. Jllviving il lo meet ILS coinniilinenis aiid continue plkmnLd llLtiviliei. Plaiis for Ilie Futiii'e Tlie BIF.A dims lo cuntinlie lorging neiv produLIiV¥ linkb: neiivork8 and pajlnei'ships. Th¢ BIEA'% location ttt onc ol'ilie Loiiiinenl'q key I'egional liubs. ai)d ivitl) 118 11'idel)' I'Lcogiiixd and I'e.spec*d Iiisloi), al ihc l?¢arl of sch()ltsrsliip 011 Afi'ica, make it is uniquely pl<i¢ed to pi'iin)()li Ili¢ ¥Olllinued deiielupn)ciit ol. UK researcli ii) and 01) Alrica foi. lulLlI'e decades. Page 6

THE BRITISH INSTITUTE IN EASTERN AFRICA (A Conipally Liniitcd by Gll&i'2nlee not liavillg a Sliare C*pital) REPORT OF THE GOVCRNINC COUNCIL FOR THE I'EAR ENDED 31 I¥IARCH 2025 .8laleJiient of Governance Cuuncil's R¢sponsAbTrlities Tl)e Council Imeels oli a i'egiilar basis to niaiiage Éhe affairs ot. Ilie cliai'ity. -I"he iiieiiibeis ot"C.OLincil {Ivh(i ale al.80 dii'ecioi's ol" 11)e Brilisli Instilule in Easlei'ii Ati'ica foi. tlie i)ui'poses of coinpaiiy law) al'e i-esponsible for pi'epai'ing IliL Atii)ual Report aiid tlie fiiiaiicial slatei))eiits iii accoi'dance witl) api)licable law arid Lliiited Kii)tJdoiii Accoiinling Siaiidai-ds (Ui)ited Kiiigdoiii Geiieially Accepted Accounting Pi'aclice). Cotiipany laiv requ?res the i)ien)b¢rs of Couiicil lo prepai'e financial 8iaieinenls foT eacli fiilaneial yeai. Ivhicli g7ive a Ii-Lie and tail. view ol. the State ot"affd' il's of Ilie charitable compaiiy aiid of tlie incon)ing I'esources aiid applicatioii ot resoui'ces, iiiclLidii)g the incoiiie ajid expenditui'e. of the c1111'ithble coinpany foi. tl)at pei'iod. Iii pi'epai'ingT these financial statei)ieiits. Ilie tri￿teeS al'e i-equired to.. SLlect suitable accountinLy policies aiid (l)en applied tliein consistently; Observe tlie Inetliods and principles in tlie Cl)arities SORP. Make judgeiiients ai)d dCCOlllltiiig eslimales that are reasonable and pi'udeiit: State wlieiliei. applicable UK Accounting Stai)dards liave been followed, subject to any iiiatei'ial depai'luies disclosed aild explaiiied in Ilie financial statenienls. and Prepared 11)e finftncial statenients on ilie ¥oin&7 concern basis unless it is inappi'opi'iate to i)resuine tliat tlie charitable company will continue ii) operntion. The nieinbei's of C.oiincil al'e responsible for keeping adequale accoiintii)g records ihat disclose witli I'easonable aCCLiiacy at ai)y tinie the financial positioii of Ilie charitable coiiipaiiy aiid eiiable then) lo ensiii'e tl)al Ilie financial stateinenls coniply with Ilie Coinpai)ies Act 2006. They al'e also respoiisible for safeguarding Ihe assets of tlie cliarilable coiiipany and lience foi- taklng ￿?sOnable sleps for the prevention and deteclioii of fralid aiid olliei. itTegularilies. AdvaiitaLJe lias been laken ot'lhe exen)ptioiis available to siiiall conipanies in the prepai?tioii of tliis repoi't. Viiiod Mandavia l-lonoraiy Treasui'er Jiistin Willis Pi'esidei)t Dated.. 19 November 2025 Page 7

INDEPENDENT F.XAMINER'S REPORT TO THE MEMBERS OF THE BRITISH INSTITUTL IN EASTERN AFIUCA (A Coinpaiiy Liinited by GuaR'aiitee not hxi'ing a Sliai-e CApital) FOR THE YEAR ENDED 31 fvIARCH 2025 I repoit to the trustees oil my e.%aniinatioii of tlie fiIiaiicial staten)eiits of The Bi'itisli Iiistitute iii Easterl) Atrica (a coiiipaiiy IiiTlited by gLlJI?ntee not having a sliare capital) for the ye￿- ended.I l Marcli 2025. Responslbllitles and basls of report As tl)e iruslees ot. the cliai'ity (and also ils directors loi. the piirpnses ot'compaiiy law) you are i-esi)oiisible loi. Ilie pi'epai'atioii ot" tlic t-mai)cial slateiiieiits it) accoi'dance will) tl)e i'¢quiieiiients of Ilie Coi)Ipai)ies Act ?006 (Ilie 2006 ALt). Having satistied Inysell. Iliat Ilie tinancial st81emenls ot.tlie charity are no¢ reqiiiird to be audited undei. Vai1 16 ot. tlie 2006 Aet ilnd are eligible for iiidependeJ)i e.Yai)iii)alion. I I'eport iii respect of niy ex811iii)a(ion of the cliarily's tiiiancial slateinenls cai'ried out uiider section 145 of the Charities Act 2011 (the 201 l Aci). Jn cari'yiiig out iiiy examination I have folloived all the applicable Dii'e¢tlQlls given by rhe Cliarity Con)mission linder sectioii 145{5)(b) of Ilie 201 l Act. Independent examlnerfs statement I have coinpleted niy exan)inatioi). I coiifirm iliat no i)iaiters have coiiie to my attention iii connectioii with tlie exaniination giviiig nie cause to believe Ilial iii any inalerial respect: a¢couiitiiig I'ecoi'ds M'eie not kept li) I'espect of ille chai'ity as IEquired by sectioi) 386 of tlie 2006 Act. or Ilie finaiicial slaieiiiciits do not aceoi'd iviili Ihose I'ecoi'ds. or the fiiiai)cial sthteiiients do iiol comply witli ille accouiiliiig requittmeiits of sectioii 396 of the 2006 Act oiliei. tliai) any I'equiiei)ient Iliat Ihe accoiints bFive a Ii'ue aiid fair vieiv wl)i¢h is i)ot a matier considered as pail of an iiidependeiit eX￿]inatIO11. or tl)e finaiicial statenieiits liave not been i)I'epai-ed in accordance will) the Ineil)ods and priTlCtples of the Stateii)eiit of Recoinn)ended Pi'actiLe for ac¢ouiitiiig and repoi'tiiig by cliarities applicable co cliarities pi'epariiig tlieir accoui)IS iii a¢¢ordance ivitli t]ie fiiiaiicial Reportiilg Slandai'd applicable in tlie UK aiid Repiiblic of Ireland {FRS 102). liave iio collcei'ns dnd liave Coine across no otl)er mattel's in connection iyith the examination to ivhicl) atieniioi) sliould be draivii in tl)i.s repoi't in ol'der to enable a proper iinderstaiidiiig ot"Ilie fii)ancial slRteiiienls to be rta¢lied. ILLSA L¢ Hai'sheel Dodhia Iiidepeiideiit ExAIMiiiei' KLSA LLP K81amu House 11 Coldbalh Square London EC1R 5HL Date¢J'.19 November 2025 Page 8

THE BRITISH INSTITUTE IN EASTFRN AFRICA (A Conipany Liniiled by Guai'aiitee not baviiig a Sliare Capital) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Total Funds 2025 Total Funds 2024 Un i"estricted Designated Resti'icted Funds Funds Fuiids Intoine aiid endowineiit fuiids froiii: Donalions and legacies.. Gi'ants Siibsci'iptioiis Chai'itable activitie.s: Publications GLiesi hoiise iiicome .Seminai' rooii) hiiE Olhei. trading activitie5: Relit 59.096 2,668 C)78,015 737,110 2,668 689,478 5.981 34,916 34,916 38,161 8,216 6,355 50,)24 Investn)ent iiiconie: Ii)tei'est oli bai)k Iiivestinent iiicome Otliei. iIicome'. Miscellaneous Gaiii on disposal Total 3b 1,675 1 ,675 18,006 476 14.647 18.006 31.282 31,281 49,016 188,377 18,006 678,015 884,396 863,246 Expcnditure oil: Rai%inL7 fui)ds Cliaritable activities 41,000 133,698 31,128 638,195 72,1?8 774.478 43.434 720,746 2,585 Total A 74,698 2,585 669,323 846,606 764,180 Uni'ealised g<liliS on iiivestments 10 ,367 1,367 30,097 Net inconie/{exiyendilure) 13,679 16,788 8,691 39,157 129,163 Ti'ansfer betiveen fiiiids Total n)ovement in funds 13,679 16,788 8.691 39,157 129,163 Total f15nds bi'oiigl)t forwai'd 17,172 726,304 77,643 821,119 691,956 Totkil funds carrred forward 30.851 74J,092 86,334 860,?77 821,119 Page 9

TIIF. BRII'ISH INSTITUTI IN EASTERN AFRICA (A Con)pany Liiiiited by Guaranlee not hal'ing a Sh9J'e Cai)ital) CONSOLIDATID BALANCE SHEET AS AT 31 MARCII 2025 Notes 2025 2024 FIXID ASSETS Tai)oible fixed ass¢ts Invttslnieiits i09,781 502.88? 812,663 J15.125 801,508 CURRENT ASSETS Debtors Cash at bank ii) liand 25.000 ?18,145 24i,145 195,432) 251,178 310,721 (290,579) Ci'ediloi's: aiiiouiit5 falling due witliiii one year NCT CURRENT ASSETS 12 47,71? ?0,142 TOTAL ASSETS LESS CURRENT LIABILITIES 860,375 821.650 PROVISIOIYS FOR LIABILITIES (98) 531 NET ASSETS 860,277 821.119 FUNDS Uiii'esti'icted Geiieral Fund u1￿,esti,lCted Designated Fund Resti'icled funds 30.851 743,092 86,334 17,172 726,304 77,643 14 15 860,277 Undei. Companies A¢c 2006, s4.54, on a voluiitary basis, th¢ tr￿sleeS cali aineiid these tinancial stateineiils if they Slibsequeiilly pi'ove to be defective. These aecoiiiits liave beeii prepared in accoi'dance with Ilie proviqioiis applicable to siiiall coiiipanies subject to the sinall coiiipanies regliiie and in accordance willi FRS102 SORP. Appi'oved by the Goveriiing Council on 19 Noveinber ?025 and sigiied on its belialf by Vinod Maiidavia Hotiorai'y Ti-easuier Justin Willis President CoinpAny vegisti'ation no. 03341342 Charity registi"ation no. 1061 622 Page 10

TIII BRITISII INSTITUTI IN EASTERN AFIIICA (A Coiiipaiiy Liniited by Cuaranlce iiot haviiig a Sliai-e Capital) CHARITABLE COMPANV BALANCE SHEET AS AT 31 MARCFI 2025 Notes 2025 2024 FIXF.D ASSF.TS Tai)gible fixed assels Iiivestiiieiils ?80.346 502,882 783,228 ?94,730 486,3 81 781,111 10 CUIIIILI NT ASSETS Debiois Casli at baiik in liand 2,425 118,716 121,141 44.522 172,865 189,?64 18.392) Ci'editoi's.. amoiints falling Ilue ivithiii one year NET CURRII NT ASSETS 12 165.662 170,872 TOTAL ASSETS LESS CURRENT LIABILITIES 948.890 951.982 PROVISIONS FOR LIABILITIES 13 NET ASSETS 948 890 951,982 FUNDS Uni'esli'icted Genei?l Fiind Uiii'esti'icted Desigiialed Fuiid Restricted fLlI)ds 119,464 743,092 86.334 148,035 726,304 77,643 14 15 948,890 951982 Undci. Coinpanies Act 2006, s454, 011 a voluiitaiy basis, the Iriistees can aiiieiid tliese fuiancial slateinents if they subsequently prove lo be defective. These accounts have been prepared in ateordaiice witl) the provisions applicable to siiiall conipaiiie5 subject to die sniall coiiipanies I'egyiine aiid in accordaiice ivitli FRS102 SORP. Appi'oved by die Goveriiiiio Council on 19 Noveiiiber ?025 and signed on its bel)alt"by Vinod Mandavia 14onoiz]y Ti-easurer Justin Willis Presideiit Cottipaiiy registratÉon no. 03341342 Cliai'iÉy i'egisti'ation i)0. 1061622 Page11

THE BRITISH INSTITUTE IN EASTERN AFRICA (A Con)pany Limiled by Guarantee iiot having a Sliare Cai)ital) CONSOLIDATED STATEMENT OF CASH FLOWS I'EAR INDED 31 MARCH 202. 2025 2024 Casli Iloivs fi.oin opei'q¢ ting ￿ctivitieS Nel (expenditiii'e)l income foi. the yeai. Adjiistnients foi.: Depi'ecialioii oli eqLiipmeiit Investinciit income (Gains)Ilosses on iiivestiiients {Iiici'ease)/i'eductioii li) debtoi's Ii)ciease/(rediiclion) iii cieditoi's liici'ease/(redLlCtion) in i)rovisioiis Net casli fi'oiii/(Lised in) opei-ating activities 39,157 119,163 22,738 (19,681) {1,367) 34,543 (95,147) 21,328 {L5,123) (30,097) 3.900 53.962 (120,625 42,508 19,757) Cash floivs from investing activities Pui'cliase of invesliiieiits Pui'cliase of tangible fixed asseis Invesliiient iiicome (17,396) 19.681 (8,123) 15,123 Net cash pi'ovidedl (used In) investing aetivities 2,285 7,000 Net Iiici'easel(decrease) in casli aiid casli equivaleiits (17,472) 49,508 Cash and casli equivalents at Ihe beginning of Ille year 273,236 223,728 Casli and casli equivalents at end of Il)e year 255,764 273,236 Casli aiid casli equivalenls is inade lip of tlie folloiviiig: Cash at bank and iii haiid Casl) licld as pai't ot iiivestiiients Total 218,145 251,178 218,145 251,180 At 01.04.25 Non Cash ¢11gnges At 31.03.25 Analysis of chai?ge in net debt Casli at banlc and in hand 251,180 (17,472) (15,563) 218,145 Page 12

THE BRITISH INSTITUTE IN EASTERN AFRICA {A Company Limited by Guaruiitce not having a Sbai'e Capital) NOTES TO THE ACCOUJYTS VEAR ENDED 31 MARCH 2025 Aceouiitillg polictes Clilli'ity ii)forinalion The Bi-itish Iiislitiite in Eastei'n Africa is a chai'ity I'euistered in the United Kingdoin and a i'egisieicd UK company liiiiited by guaraiitce and iiot haviiig a share capital. Activities in Kenya al'e Lindei'lakeii by tl)e i'eiristered Keiiyan iioii-govemmeiilal oi'ganizatioii, tl)e Brillsh liisliiule iii Eastern A I I'ica, whose pi'iIicipal place ot. biisiness is Laikipia Rd. K ilelesliwa. and ivliose activiiy is lo iiiideitake. promote aiid ei)coui'age academic i'eseai'ch iiilo the histoiy arid arcliaeology ot- Easlei'n Afi'ica iii all its aspects aiid periods. 1.1 Basis of accouiiting The Iiistiliite meels Ilie detiiiitioii of- a public beiiefil eiitity undei. FRS I O? Tlie fiiianeial slateniencs liave beeii prcpaied undei. Ilie l)istoi'ical cost cotiveiition a.s iiiodified by Ilie I'evaliiation of cei'tain fixed asset.4, ii) aecot'daiice ivitli tlie Statei)ient of Reconiineiided Pi'actice: Accouiici ng by pi'epai'iiig Ilieii. aceounts li) accoi'daiice ivitli the Financial Cliai'ities Repotting Standai'd applicable ii) the Uiiited l<iiigdom aiid tlie Republic ot. Ireland (FRS 102) aiid Ilie Compaiiies Act 2006. Assels aiid liabilities at'e initially recogiiised at liisiorical cost oi. Iraiisactioii value uiiless oihei'wise slated iii tlie I'elevaiil accounling policy note(s). Advaiilage lias beeii taken of tlie exeniptioii in pai'agi'ai)h 1,12 of FRS102 not to prepare a paient conipaiiy Casl) flow statemeiit. The pi'epai'ation ot. fiiianeial slaienienls in coinpl iaiice with SOR￿ ?015 l'equii'es the Lise ot ceitain critical accouiiting estiinates. It also iequires iiiaiiagement to exei'cise j udgment in applying Ilie accoiiiiting policies (see Tiote 2). Tlie fiiiancial statenienis consolidate ihe iEsulis of the UK Charitable company aiid its siibsidiai'y oi'oanisatioii Bl EA Kenya on a line by liiie basis. Tlie followiiig priiicipal accoiiniing policies have been applied: 1.2 Going concern At the time of approviiig ihe financial stateiiients. tlie Tiiistees have a reasoiiable expectation tlial the Britisli IiistLtiile iii Easlei'n Africa lias adequate i'esoui'ces to conli iiiie in opei'ational existence for the foi'eseeable fiiture. Thus the Ti'ustees continue to adopt tl)e goiiig concerii basis of accounti lig iii preparing tlie fiiiancial statenients. 1.3 Cliai'itable fuiids Uiii'esti'icted funds al-e available foi. use at Ihe discittion of ihe Ti'iistees in fiiilhei'aR)ce of tlieii. chEU'itable objectives. Resti'Écted fiinds aft'e SLibject to specific conditions by grants as to hoiv they iiiay be used. The pui'poses and uses of tlie i'esti'icted funds are set out in the notes to the finaiicial stateineiits. 1.4 Incominu resoui'ces All incoiiie is i-ecogiiised once the Institute has entitlenient to the iiicome, it is probable that it will be received and tlie ajiiount receivable can be nieasured i'eliably. All incoine is gross without deduction for irlated expenditure. Page 13

THE BRITISH IP*'SI'ITUTC IN IASTERN AFRICA (A Conipaiiy iAiiiited by GuarAntee iiot having a Sliai'c Capital) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 1025 Ii)vestm¢iit inconie is recognised wlien receivable based oli nolification froin tlie investment managers. Giants foi. general supi)ort. research, scholai'sliips or fixed assets are recognised on a I'eLeivable basis and are detei'red only wliei) the donoi. has iinposed Pre-coiidilions oil the use ot ilie gi'aiit. All legacies and doiiations al'e allocated beiween uiiresli'icied, resti-icied ai)d endoivnient fuiids, depeiidiiigJ oli condilions iiiiposed by tlie donors. .5 Resoui'ees Expended Tr.xpeiiditiire is recognised on ai) accruals basis as liabilities are iiicun'ed. Expenditui'e includes aiiy VAT wl)icli ¢<TrllllOt b¢ fully I'ecovei'ed. and is reported as pait of the cxpellditure to wl)i¢l) il I'elated. Cost of geiieratinb funds coinprise of the costs associated witli altiactiiig voluiitai'y iiicoine Cliai'ilable expeiiditiire coinprised tliose costs iiicui'i'ed by (lie charity ITI Ilie delivei'y of ils activities ai)d services foi. its berieficiaries. It iiicludes boili costs tliat cali be allocated direclly Lo sucl) activities and tliose costs of an ind irect iialui'e Iiecessary to support Illein. Suppoi'i costs have beei) allocated to activities 011 a basis coiisislent Nvith Ilie use of tl)e resoiirces. Grants payable to sludents are recognised at the earlier of Ihe dale of payiiieiit oi. tl)e dale ivhen an uncoiiditioiial conli'aclual obligation is ei)tered into. Gi'ants ale d¢teri)iined by ilie relevanl ¢oiiiiiiiltees ii) line Iviili Ilie gi'aiit makiiits policy of Ilie Institute. Goveniai)¢e costs iiieliide those cosis associated iviili n)eeling (lie constitutional and statuloi'y iequii'emeiils aLidit fees and costs liiiked to the strategic iiiaiiagemeni of Ihe Iiislitute. 1.6 TAJigible fixed assets Tangible fixed assets. oihei. tlian hei'itage assets. ale slated at liistorical cost less accuinulaled depreciatioi) and aiiy accuiiiul8te(l iiiipaii'nieiil losses. Histoi'ical Cost iiicludes expeiidiiiire Ihat is dii'ecily allributable to bi'inoiiig tlie asset to Ilie localion aiid condition ilecessai'y foi. it lo be capable of operatin&¥ iii Ilie iiianner iiiteiided by iiiaiiaL7enienl. Depreeiation is cliat'8ed so as to allocate ilie cost of assets less their i'esidiial valiie over tlieir estiinaled usefiil lives. Depi'eciatioii is pi'ovided oli the followin8 basis: Leaseliold laiid and buildings Motoi. v¢liicles Coinputei" equipnient, fixtures and fittings Over the period of tlie lease 33.33 % Reducing Balance Metliod 25 /0 Reducing Balance Metliod The library is considered ¢0 be a hei'ilage a&set- lield and Inainlained principally foi. its contribution to kiioivledge and Cliltiire. and as siicl) is iiot valiicd ii) tlie balance sheel as tliere 15 not reliable liis101.ical inforiration on its cost and a convei)tioiial valuation would be overly 01)eroiis io coiiduct and given tlie r)ature aiid uiiiqiieness of some of ilie ilems held Inight ivell pi'ove to be arbitrary. The cost ot. books pui'chased duriiig tlie year lire capithlised if their individiial cost is above tlie capitalisation limit. All other book pui'chases are chai'ged lo tlle ii)coine sLqtenient. Fiirlher details al'e given in ilote 9. 1.7 Fixed asset investments Lnveslmeiils are caiTied at market valiie with any unrealised gaifts and losses being included in the Slalenient of Fil￿nCial Activities and allocated betweeii fuiids. The cost of nianagenieiit of the investnjeiits has beeii charged to d)e Statemeiit of Finaiicial Activities. Page 14

THE BRITISH IliSTITUTE IN EA4iTERh' AFRICA (A Coiiipai)y Liiiiited by Cyuai'antee not liaving # Sliare Cai)ital) NOTES TO THF. ACCOUNTS YLI AR ENDED 31 fvIARCH 2025 1.8 1n)paii'iiienl of fi¥ed assets At eacli I'epoiting end date, tlie chariiy ieviews the cariyiiits amounts of its tangible asseis to deteriiiiiie wbetlier Iliei'e is any indicatioii that Il)ose asseis liave sijtTei'ed an iiiipaii'meiil loss. If any such indicatlon exists, Ilie I'ecovei'able aiiiounl of the assei is esiiiiialed in oi'dei. 10 deierniine the eyteiit of tlie iiiipaii'ii)enL loss {il- aiiy). Recovei'able ¢inioiJiit is Ilie liigiier ol, tair value less cosls coinp21.ed to sell and value in iise. In assessiiig value in iise, tlie estiiiiated fiittii'e casli floivs are discouiiled to Ilieir i)reseiit value Usilio a pi'e-lay discouiit i'ale that ieflecis CLlI'I'eiit inai'ket a.ksessi)ients of Ilie linie value of nioney aiid tlie i'isks specific to the asset foi- Ivliich the esliiiiates of fuiuir ca511 flow5 have iiot beeii adjusted. If tlie i-ecoverablc t?InoiiiiI of all asset is esliniated io be less tliaii its cai'iyinLY anioLJlit, the cai'iyiiig anioiliit ot tlie asset is i-educed lo ils I'ecovei'able uiiiouni. Ali iiiipairineiit loss is I'ecogiiised iiiiinediately iii iiicome/(expenditLire) foi. Ilie )Fear. Iinless tlie ielevaiii asset is cari-ied a( a revaliied aiiiouiit. iIi wliich case the iiiipaii-menl loss is trealed as a I'evaluation decrease. Recogti ised iiiipaii'ii)eiit losses are reversed if, and 011151 if. 11)e ieasoiis foi- Ilie iii)pairnieiil loss l)ave ceased to apply. Wliere an impairinent loss siibseqiieiitly Itvei'ses, the caiTylI)g ainoiii)l ot'tlie assel is iiici-eased to tlie i'evis¢d estiiiiate of its recovei'able ainolint, bul so tlial Ille inci'eased carrying aiiiouiit does iiol exceed the cariying aiilount Iliai ivould have beeli detenniiied had iio impaii'iiienl loss beeTI recoonised tor tlie asset iii prior yeai's. A revei'sal of an inipairmeiil loss is recogiiised in)niediately, unless tlie relevant asset is cai'i'ied in ar a revaliied aniount, in which case ilie I'evei'sal of the iiiipairmenl loss is tieated as a iEvaliia¢ioii iiiciruse. 1.9 Cash Aiid casli equivalent.s Cash and cash equivalents include cash in haiid, deposits lield at call witli baiiks, otl)er slioi't-teriii liqiiid nvestsiieiits iviili oribvinal ii)atiii'ities ofil)ree moiitlis or less, and bank oveydi'afts. Bank overdi'afts are showii ivitliiii bori'oiviiigs iti curi'eiit liabilities. 1,10 Financial iiisli'unienls The Bi-itisli Institute in Easlerii Afi-ica lias elected to apply tl)e provisioi)s of Section I I 'Basic finaiicial nsti'umenls, and Section 12 '0tlier Financial Instruments Issues, of FRS 102 to all of its fiiiat)cial iiisti'unients. Financi￿11 inslrliiiieiits are I'ecognised iii tlle British Institute in Easteiii Africa's balance sheel ivhen the Britisli Inslilule iii Easterii Africa becoines i)arty lo tlie coiitratliial provisions of tjie iiisU'Liiiient. Financial assets and liabilities are offseL wilh tl)e iiet amoiints presented in tlie fiiiaiicial stateineiits. wlien Ilieie is a legally eiiforceable l'ight lo set off tl)e recogJii5ed amouiits and there is an inteiition to settle on a Iiel basis or lo italise tlie asset and settle tlie liability simultaneously. slcfiiiu)IciMI ussel.s lla.slcfiiiaiiL'i(Il u.s.sel.s, Ivlilcli iiielude rfe￿OrS uiid ca.sli aii(I baiik balaiices, are iiiitially Eneasiired al ts'ansaction i)rice includiiig ti'aiisaction costs aiid al'e subseqiieiitly carried al amoi'tised cost using il)e effective iiiteirst metliod unless the armoenieiit coiistitutes a financiiig ti'aLisaction. Ivhei'e the trniisaction is measuird at the preseilt value of the futui'e i'eceipts discounted at a niai'ket l'ate ot"iiiterest. Financial assets classified as receivable wiihin one year al'e not aiiiortised. Page 15

THE BRITISH INSTITUTE IN EASTERIY AFIIICA (A Compaiiy Limited by Guarantee iiot liaviiig Sliare Capital) NOTES TO THE ACCOUNTS YLUi EM)ED 31 MARCH 2024 Bn.ficJlJiiiiicliil Iliihililies Basir fInancial liabilities, including ci'editoi's aiid bai)k loai)s are inilially recognised dt li-ansaction pi'ice Linless Ilie ai'i'aJitrei)ient coii8litutes a financiiig transactioii. Ivhere 11)e debt iiisii'iiiiieiit 1% iiieasui'ed al Ll)e pi'eseiit value ot Il)e futu paymellls discouiited at a ii)ai'l(et I'atc of inleresi. Fiiiaiicial liabilitie5 classified as pay¢ible ivitliiii oi?e yeai. al-e not Inui'tised. Debt iiistl'liiiieiits are subsequently cairied at aiiiortised cost, using tlie effective iiitei'esl 17te imetliod. Ti'ade credit()rs are obligatioiis lo pay for goods oi. sei'vices Ihat huve beeii acqutred in 11)e ordiiiaiy coiirse of opei'(Itions 11-0111 supplieis. Ai)iounLS payable are classified as cui'renl liabilities if payineiit is diie williii) one yeai. oi, lei I f iiol, tliey are pi'esenled as noii-curreiii liabilities. Trad¢ credil01s ar¢ recognised iiiicially at li'aiisactioii pi'ice Hiid SLibseqiieiitly n)¢asiii'¢d at aiiioitised cost iising Ilie effective iiiteresl nietl)od. Dei'ecognition of financial liabilities Financial li11bililies are dei'eLogiiised ivlieti Ihe Britisli Instilule ii) Easteim Afi-ica's coiilractual obligatioiis expire or al'i discliai'ged or caiicelled. I, I l Govei'niiieiit Gi'ants Governi)ienl grants are recogiised at tlie f¥tir Value of tl)e asset i'eceived oi. receiv&ble ivlien there is I￿aSOlIable assui-aiice tl)at tlie grant coiiditions ivill be met and tlie ￿ZnIS will be received. A gi'ant Iliat specities perr￿ll￿anCe conditions is recogiiised in incoine when Ilie pei'formaiice conditions are inet. Wl)ei'e a y'ant does not specify pei'f()i'inance conditions it is i'ecogii)ised in incoi)ie when Ilie piyyceeds ale received or I'eceivable. A grant received before tlie recognitioii crlleria are satisfied is recognised as a liubiliry. 1.12 Pensions Slaft. on UK-based contracts are oftered meinbei'ship of the Univei'sities Superaniiualion Sclieme (USS). Tlie assels of Ilie scl)eiiie are lield in a separate ti'uslee-adiliinislered tund. Because of the ii)utual i)ature ot.tlie scl)ei)ie the assets are i)ol allributed to iiidividual institutioiis aiid a schenie-wide coiitributioii l'ate is sel. Tlie inslilulioii is tliei'efoi'e exposed lo actuarial risks associated iviili other institiitioiis, einployees ai)d is unable lo identify ils share of tlie iiiidei'lying assets and liabilities ol. Ilie scheine on a consistent and i'easonable basis. As I'equiied by Sectioii 28 of FRS102 "Einployee benefits" the instittitioii tl)eretoi'e accoiints foi- tlie scheiiie as if il weye a defiiied conli'ibuliotl schenie. As a rcsiilt, the aniount charged to the profit and loss accounl I'epresenls the contributioiis payable to tlie scheme. Since the iiistilulioii has enlered into an agreenienl (the Recovery Plai)) that deteimiines lioii, eacli einployer ¥vitiiiii tlic sLhcnie %vill fund the ovei'all deficit, the insti¢iition ircogtiises a liabiliiy for tlie conti'ibutlolls payable Ihat i froni tlie agi'eenient (to Ilie extent that tliey relate to tjie deficit) witl) i'elated expenses being recognised tlii'oiigh tlie profit and loss account. J.13 ForeiEI) euri'eiic}' ti"Aiislation TRie fiiiaiicial statenieiits ale presented in Sterling, wliicli is also ihe tuiictioiial cun'eiicy of tlie Liistitute. Tlie Institute lias incoRne and expeiiditui'e in sterlino and non-sterliiig Curreiicies and conseqiTently niaiiitairks banlc accolints in various cui'iencies to facilitate this. Tlie Trustees. policy is to excl)ange stei-liiig cui'i'ency only wlieii Il)e incoine is certain and the experiditiire is foreseeable. Foreigii curreiicy I17nsactioiis are translated iiito tlie fLlt)ctioiial ciirt'ency iising tlie excliange i?te at the date of the ti'ai)saclion. Ai each i)eriod end foreign CUlTeii¢y inoiietaiy iteins ali ti'anslated using the closing rate. Foreign ekchange gaiiis and losses i-e5ulting froiii the settlei)ieiit ofts.211saclioi)s and froin tlie ti-aiislatioii al pei'Fod- eiid exch<moe i'ales of moiietary assets and liabililies deiloniinated ill foL'eiJ cutTeiicies are i'ecogiiised in the SOFA. Page 16

THE BRITISH INSTITUTE IN EASTERN AFRICA (A Coiiipany Limited by Gmaraiitee llot havÉng a Shal'e Capital) NOTES TO THI ACCOUNTS YE.4R ENDED 31 fvIARC.H 202S NOTEI S (CONTINUED) roreiLJn exclianLJe gains c11Id losses that welale lo Inoiietary assets and liabilities al'e pi'esented sepai'atelj oil tlie face ot'the SOFA witliin inconie or expeiiditiire. 2 Critical i?CC(buiitiiig estiinates and judgeiiients The pi-epai?tion of Ilie fiiiaiicial siateiiieiits I'eqiiires iiiaiiageineiil to Inake jud&)Ineiits, estiinates and assiimptiuns th¢11 ¢lfl'cct the amounts fft'epoited foi- assets and liabilities as at the balaiice sl)eet date aiid tl)e amoLiiils I'epoi1ed toi. revenLie.s aiid expeiises durii)g Ilie year. 'fiic iiawi'e ofeslimalioii iiieans the actual oiitcoiiies could diftei. fi'om Iliose esliiiiales, I"li¢ l<ey soui'ce of esliinatioll Lll)cerlainly that coiild l?av¢ ali impact oli the fiiiaiicial statei)ieiils I'elates lo Ilie decision ¢0 not capitalise 11)e liei'ilage asset. Note 1.6) above gives Ilie eyplanalion tor this ivhile iiole 9 provides iiioi-e iiifoi'nialioi) aboiil tlie assel itself. FRS 102 Inakes tlie distinclion belweeii a groiip plan aiid a mlilti-employer sclieine. A groiip plai) Consists of a collection of eiilities Lindei. commoii coiilrol typically with a sponsoi'ing eii)ployer. A niulli-employer schenie is a sclieiiie loi. eiitities not under coininon coiilrol aiid represents (typicall J,) ali industiy-wide scheiiie such as Uiiiveisilies Supei'aniiiiatioii Sclienie. 'I'lie accoLinliiig foj. a iniilii-einployei. sclieine whei'e thc eniployer lias entered into ali a￿'eelneIIt willi tlie sclieiiie thai deleriniiles llow the eiiii)loyer will fuiid a deficil i'esulls iii the recogiiicloli of a liability foi. tlie coiilribLltioiis payable tlial ai'ise froiii Ilie agreeii)eiil (to the extent Iliat they Itlate to the deticit) aiid tlie resLiltiiig expense in profil or loss in accordaiice with sectioii 28 of FRS 102. The trustees al'e satisfied Iliat Univeisities Siipeiynnuatioii Scheiiie meets the defintlion of a iiiulti-eniployer scheiiie aiid has tliei'efoi'e recogiiised the discounted fair valiie of the conlractiial coiitribulions uiidei. Ilie recoveiy plaii in existeiice at tlie date ot appi'oving tlie fiiiaiicial slateni¢iils. In¢oiiiing Resoui'ees 2025 2025 Unres¢i-i¢led designaled 2025 2024 Uni'estricted Restricted To¢AI Tot41 ) Graiits dollalions Bi'ilisli Acadeiiiy CJrants Otliei. gi'aiits and doiiatioiis 678,015 678,015 59,096 657,631 Jl,847 59,096 59.096 678,015 737,110 689,478 b) Investiment Income Bank iiiterest iicome froni invesliiieiits 1,675 1,675 18.006 19,681 476 14,647 15,123 18,006 18,006 1,675 Incoinijig E'esources are substantially generated within the UK. Page 17

TIIC BIU'I-ISH IIN'STITIITE I.N EplS'fF.RN iifRICA (A Coiiipjiiii, l.iini(ed bil Gllarathtee noi h￿l,1ng a SlIAI't Cai)illlll I (y1.￿ TO THF. AC.C'()IIN'I YF.AR r.NDLD Jl IMARCI1202 ENPF.NDITIIRC AN'ALI'SIS Li￿1￿511-1cttd G¢net'g1 [IniYsti'ici¢ l)esiRiiaied Resli'iLt¢d li ?(124 TotRI l'ost of i-Al&fllU funds: PllbliLi11ioii Lc)sLs Website iii)gr4dc 41.(K)o 27.815 -1,313 31.128 6X,815 3.313 41.4.34 2.000 43,4.14 41,000 Dii'eet co.i¢s: C'ojilereiice and li,0￿5'hO￿l rieldii.01.k tujd rcse¥rch c()515 Sludctiisliip & lelli)iirsl)ip gi711(S 8<llai'ics wi(1 iilloivttn¢e. 15,30Q IOa.2%2 15,300 100.282 CTr9.276 70,280 ?7.786 365,143 94,460 315,389 4a9,84Y Supporl ci)$ts: 9,889 9.889 26,114 79.582 3.023 12,1147 19,120 44,015 2,353 21,32X 12,340 10,797 11.373 Repllity l)d niiii)i¢nwiee Geiiei'al eYpcnsc8 Transpui'l uiid Iidvel Dcpreeiaiioii 1409 79,5A2 3.02.7 9.999 12,954 629 23.247 1.¥55 10,154 2.585 12,954 629 23,247 1.855 l)rovidenl luiids l-,oreign cycliange {gainl I los Wl'lte o Goi'ei'nAnce costs: Stcift Losts Aiidit aiid a¢¢oui)iai)¢y feei l.,egal le&s T&¥ Expciiqes {Cl'll 13,391 5,514 1.1.391 22,055 10.114 77,1,,178 15.359 11.284 21,,143 720,746 16,541 113.()9¥ 2.5x5 618,195 Page 78

THE BRITISH INSTITUTE IN EASTERN AfRICA (A Coin paiiy Liniited by C￿ar#I1{ee not liaving a Shal'e C2Pltal) NOTES TO THE ACCOUNTS YEAR ENDED 31 NIARCH 202) ST AFF COSTS 2025 2024 Salaries aiid allowai)ces Natioiial insLlI'aiice Peiision conts'ibutioii Provident lui)d Foi. local Kenyan staff 408,533 1.316 364,469 675 629 410,478 10,797 375,941 Nuiiibei. of staft - Gi'oup 20 24 Nuiiibei. of slaty- UK No eniployee.% eamed a salaiy over L60,000 per annui)i in this oi. the prior year. Tl)e Dii'¢¢loi' and Keiiyaii Dii'ec¢or niaiiage the ii)stitiition on bchalf of the cout)cil and represeiit key Inanageiiieiil. The total I'emuiieratioii iiicludiiig all salaries¥ peiision conts'ibutiofts, allowaiices ai)d otliei. costs Ivas £134.153 (2024.. £119,193). GOVERNINC COUNCIL AND RELATED PARTY TRANSACTIONS Tlie menibers of tlie CioveYi)ing CouiiLiI received no ieiiiiFiiei'ation iii i-especi of their dllties. ReimbuiEed expenses tolalling £3,800 duriiig die year (2024: £2,853) in relatioii to ii'avel and acconiiiiodaiioll. Doi)<ltions for a total of £Nil (2094: £Nil) weir ieceived froiii inembei's oftlie couiicil. The bistitiite's I'esearch ceiitre and library, is located in Nairobi, managed aiid staffed tlieit by oiii. subsidiai'y orgftiiisatioii BIEA Kenya ivliicli is constituted as a Keiiyaii Noi)-Goven)iiieiilal Oi'gaiiisalion (NGO)- Dui'inb Ilie yeai. the UK ti?iisferird 98 niillioii Kenyan Sliillings (2024.. 48 niillioii Keiiyaii Shillings) to BIEA Icenya to fuiid operations. Thei'e were no olliei. i'elal¢d party iiwisactioii in the period (2024: None). AUDJTORS AND ACCOUNTANTS. REMUNERATION Tlie iiidependeiit exaniii)ei' cliai-ged £7,541 (2024.- £10,571) in irspect of tlie 8udil of wliich £5,850 (2024, £4,788) related to tlie audit of the branch tn Nairobi. GROUP FINANCIAL STATEMENTS )e financial statenients coiisolidale tlie results of ihe Iiistilute and ils subsidiaiy BIEA Keiiya. A Sep￿.ate Stateii)ei)l of Financial Activilies and Stateillellt of Cash Floivs is iiot presented foi. the UK charitable coinpany because the charity has taken advantrage of the exemption in S408 of the Compallies Act 2006. Tlie charitable Cotnpany's net moven)en¢ in fviids for tlie year aii)ounted to a £89,945 (2024- £225,344). Page 19

THE BRITISH INSTITUTE IN EASTERN AFRICA (A Conlpaiiy Liiiiited by Guarantee not haviiig a Sliare Capital) NOTES TO THE ACCOUNTS y[IAR ENDED 31 MARCH 2025 9 TANGIBLE FIXED ASSII'S Leaseliold Compiiter Equipiij¢i)t, Laiid aiid Fui-nilui'e filtiiigs Buildiiigs alld equipiiicnt Motoi. veliicle5 Total Gi'oup Balaiice bi'ouglit foi*vai'd Excliaiige diffei-eiice Disposal Additioiis At end of year 459,523 144.199 (88.717) 603,722 (88,717) 17,396 72,878 17,396 532,401 459,523 Accuiiiiilated dei)reeialion Balance bi'oliglil fonvai'd Dispo.S<?I Ex'change difference Cliarge foi. the yeai. At eiid of pei-iod 166,527 122,071 288,598 (88,718) 8,788 42,141 (88,718) 22,741 222,621 13.953 180,480 Net book value at end of year 2025 279,043 30,737 309,781 Net booli vnlue Al end of yeai. 2024 292,997 22,128 315.125 Company Cost Balance bi-oughi torward Disposal Additions Ai end ofyear 459.523 7,903 467,425 459 523 467 425 Aceuinulated depi'cciAtioii E11& lance bi'oiighl fornv￿-d Disposal Cl)ai'ge foi. the yeai. At eiid of period 166,527 6,168 172,695 13,953 180,480 434 14,387 187.08? Net book value at end of year 2025 279.044 1.301 280,344 tyet book value llt end of year 2024 29?,997 1,735 294.730 Diii'ing tlie year ended 31 March 2000 the Haycock Memorial Fund adininistered by the lllstitute acquiitd a 46-yew' leaseE]old interest (expiring on 31 July ?(M6) in tlie propeity occupied by the Inslitute. Page 20

THE BRITISH INSTITUTE IN LASTERN AFRICA (A Company Limited by GuAI'2iitee not having a Share Capitlll) ]YOTES TO THE ACCOUIYTS YEAR ENDED 31 fvIARCH 2025 TANG(BLE FJXED ASSETS Dui'iiig Mai'cli 201 O the pi'opcrtji in Nairobi was valued by Kniglit frank usiiig tlie Investi)ieiil 11)elliod of valiiation. The mai'ket value al Ihe date of valiiatioii was £75 1)iillion Kenyaii Sliillings Nvhich was ai)pi-oxiiiiately £640.000. This valliation is Iiol ii)coi'porated iiito tliese aceoLTrlits. The t31EA iiiaijitains al its base iii Naii'obi a reseaich aiid refei'ence librnty which is iiiipai'alleled in Ilie I'egioii, The librai')f is op¢n to all iiieii)bei's wi.shiiig Io Lise il aiid coiiiains ari)iii)d 5,000 baoks and i-iins of specialist jOLlI'nals, a5 well <iS off-pi'ints aiid theses. No pi'ofessioiial valusllion of tlie libraiy has been iiiade as tlie Coiiiicil does iiot feel tl)at Iliis ￿lOuld b¢ Cost effective. As a resiilt, no value foi. tl)e libi'ai)i is recoi'ded in tliese accounts aiid the costs relating to the acqiiisition of libi?I'y iiiaterials ale ivi'itten ofl-aiinually. All assets are uscd iii tlle dii'ecl charitable k)Ctivities of tlie conipaiiy. 10 INVESTMENTS 2025 2025 2t)24 G i'oup 2nd coiiii)any Cost 340,285 Vllluation 486,381 Valuatioii 441,636 Balance bi'oiiglil foiward Additions DividLnd income I'eceived Uiirealised gaiiis/(losses) Balaiice at 31 Mai'ch 2025 - listed investn)ents 15,132 1,367 502,880 14,648 30,097 486,381 340,285 Coiislstlng of: Listed investsiieiils Iiivestineiit casli 502,880 486,381 502,88? 486,383 2025 2024 Details of malerial investments held at the end of the financial year are as follows: Sa)'asin Class A Tiicome 502,880 486,381 Th¢ iiivestments belongy to Ilie designated Haycock Meniorial fiiiid. All ii)vestmeiits fall witliiji the narrow raniFe iiivestments as defined by tlie Trusl¢es Investnient Act 1961 and are held in accoi-dance with ihe powers of tlie Trustees ot.tlie conipany. Page 21

THE BRITISH INSTITUTE IN EASTERN AFRICA (A Coinpany Liniited by Guxi'anlee not li#ving a Sliaj'e Capital) NOTES TO THI ACCOUNTS I'EAR ENDED 31 MARCH 2025 I I DEBTORS Gi'oup 202S Comi)aiiy 2025 Gi"oup 2024 Conipany 2024 CTI'OUP Pi'ei)ayiiients & siindi'y debt013 25.000 2,425 59,$43 16,J99 J2 CREDITORS Gi'oup 202S Coiiii)aiiy 2025 Gj'ollp 2024 Coinpaiiy 2024 CJI'OUP Oihei. creditoi's and 1¢ ccruals 195.432 44,522 290.579 18..392 13 PROVISIONS FOR LIABILITIES Croup 2025 Coinpany 2025 Gi'oup 2024 Company 2024 PR'ovident Fiiiid Balance bi'ouglit for%vard Traiisfei's Moveinent foi. the year Balaiice at 31 March 2025 531 57,118 4.1.3 98 56.587 531 Pi'ovision for USS Deficit Balance bi'ought t'oiward Moveinenl tor the year Balaiice at 31 Marcli 2025 64.0.38 64,038) 64.038 Tolul pi'ovisions eori'ied foiivard 98 531 Page 22

THE BRITISH JNSTITUTE IN EASTERN AFRICA (A Coiiipaiiy Limited by Guaraiitee iiot liaving a Share Capital) CONSOLIDATID STATEMENT OF FINANCJAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 UNRFSTRICI'ID DESIGNATED FUNDS Haycocl. Meiiioi'ial Fund The Haycock Memoi'ial Fiiiid is 10 be used foi. Ilie geiieral pilrposes of tlie Institute. -file ivisl)e.s ot. tlie Haycocks were that it shoiild be Lised iii tlic advaiiceiiietil of studies (incliid itig iii pai'tiCLilai' lingLiisIic siiidies) of ilie Aiicient Mei'oitic State of Nubia as far possible, althoiigh iio specific ti'ust was ci'eatcd iii this respect. Hayeock MeEI)orial Funds 2025 Tolal 2024 Total lijcoining i'esouj'ces Iiivestnient income 18,006 18,006 14,648 Re%oui'ces expen(led GL'iici'al expciise Depi'eciaiioii ?,585 2,585 2,585 2,585 2.585 Ti?nsfer Net iiicotiiingl(oiiigoing) i'esoui'ces before transfers 15,421 15,421 12,063 Net iiicomiiigl(outgoiiig) resources befoi'e ti7iisfers 15,421 15.421 12,063 Gaiiis/loss&s on iiivestiiieiils 1,367 1,367 30,097 Net Inovement in yeai. 16.788 16,788 Balance brouglit forward 726,304 726,304 684,144 Fund b￿lance as at 31 Mai'cli 2025 743,092 743,092 726.304 Repi'esenced by.. Tangible fixed assels Fixed asset investmeiits Curi'enl assets 53,160 502.880 187,052 743,09? 53.160 502,880 187,052 743,092 55,745 486,381 184,178 726,304 Page 23

'rHL BRITISH IYSTITUTI IN EASTERN AFRICA {A CoriipAiiy Liniited by Guaransee not hAiiiig a ShAI'e CapitAII CONSOLII)ATED STATEMENT OF FlINANCL4L ACTIIIITIES INCLUDING JIYCOfvIE.4ND EXPENDITLRE AC"COUNT OR'I'JIE )'F..4R F.NDED 31 hI.4RCII 2025 RLSTRICTED FLINDS Gi-eeii Hei'itage Pi'ojcct GrAlIt Bi'ilish Naii'obi Aca(leiiiy Reporl AurEIius Trust GrAlIt Aliph Pi'oject Gi'AlIt Tolal LIAIAiiee l Api'il 2023 15.631 2,776 9.947 28.354 Ii)Loiiiiiig i'e4biirees Ciraiils rfiiid doiiaiioiis 657.631 657.6J I IlebOLirccs cNpciid¢d {608,341) {601.341) Ti'aiister heliveen lijiids ri und bAIAllce 85 Ilt 31 Marcli 2024 64,92(J 2.776 9.947 77.043 Cjranls aiid doiiati()n 678.015 678,a15 Resouires ts%pen(led 1669.323) 1669,3231 'I'i'uiisfer l)etlV¢kl) fund Fuild bnlAiice as Al 31 Maj'ch 2025 2.776 86,334 Tli¢ vJlue i)t ihese lunds is IiLld ii'ithin ciirrenl ¥ss¢'ts. Page 24

THf. BRITISH INSTITUTE IN EASTERN AFIIICA (A Coiiipany Limited by Guarantee not liaviiig a Sliare Capital) NOTF.S TO THE ACCOUNTS Tr'[1 AR CNDED 31111.4RCH 2025 16 TRANSFIRS BETWEF.N FUND.S Duriiig tl)e yeai., i)0 Iraiisfei's ivei-e niade lo die Genei'al FiiE)d fi'oni tlie l-laycock. Metiioriiil Fund (2024.. £iiil). Diii-iiig the year £Nil (?024: £NAI) was traiisfei-red lo the Geiieral Fiiiid froin tlie Bi-itisl) Academy Gi'aiics for ainouiils spent on tixed assets. 17 CONTROLLING PARTY Tliere is no coijti'olliiig part)i iii ihis or Ilie pi-ior year. 18 FINANCIAL INSTRUMFNTS 2025 2024 Financial assets Ai fail. value tlirougli pi'ofit or loss 50? 880 486,383 l*inwicial assets at fair valLie tliroiigli pl￿rit oi. loss coinpi'ise listed investiiients 19 LEASE COMMITMENTS Tliere ¢ire no lease coniliiitiiients in the cuii'ent or c(xiipaiative )iear foi. the bainch or the conipajiy. Page 25

THE BRITISII INSTI"fuTE IN EASTEIIN AFRJCA (A Company Liiiiited by GuArantte iiot hftvibig a Sllare CApitAI) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITJIS Ir4cLUDING INCOME AND EXPENDITURE AC.COUNT FOR I'Hk Yk.4R li IYDED JI fv1.4KCII 2025 io C.ONIPARAI'lVI,: sofA & t440TES Total ri uiids 2024 Uni'¢stl-iLted FitMds Designnted Fuii<ls Rcsti'ieted Fi)17ds Iiie4)iMe aiid eiidoiviiieiit fiin(Is fi'om: Diinalionb aiid le&yJcie%: Cirant% SiibsLfiiJLinll8 C'hai'il£?blc aclivilie8.. Puliliciitiai)s (iuesl IIoiisc IllLuine 31.847 5,()81 657.631 ()89.478 5,981 38.161 6,355 6,.3 55 Qil)ei' Itlldiii8 aclivilies: R¢iit VcliiLle iiic()Ine 59.132 59,132 Iii(ei'e.%l on haiik 476 476 14,647 14,647 Oihci. iiiL()rne'. libC¥llai)¢uLIs Guiii i)i) ilisposal TotAI 49,017 49.016 i ()0.()69 14,647 ()57.631 863.24C? Ixpeiiditure oil: Raising tinds CliJi'ilable aclivilies Cliai'itable activiliLS cxcepli()iiJl TotHI 14,9¥5 138.269 28,449 579.893 43,434 72U,746 2,585 153.254 2.iX5 608,342 764.180 Uni'Lalised LTaini 011 iiivcslinci)1s 10 JO.U97 30,097 Net incoiiitl(expenditiii'c) 37,715 42,159 49.289 129.163 Ti'ansf¢r beliyeeii fuiids Total iiioveRiellt lil (Iiiids 37.715 42,159 49.289 129,163 Toldl liiiids bioii8lil li)rivard (20,543) 684,145 28.354 691.95() TotAI funils cxi'ried forwai'd 17.172 72CI,304 77.()43 821,119 Page 26

THE BRITISH INSTITUTE IN EASTIRN AFRICA (A Company LiiiiiÉed by Guai'antee not liaving a Shai"e Cai)it21) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIE4 S INCLUI)ING INCOME AND F.XPENDITURE ACCOUNT FOR THE YE.4R ENDED 31 MARCII 2024 21 COMPARATIVE SOFA & NOTES (contiiiued) Uni'estricted Uiiresti'icted Ctnei'al De,sigi)ated Funds Fijnds Resti'icÉed Fuiids 2024 Tot*1 Cost of i'aising funds: Publicatioii cost Websitc upgi'ade 14,985 ?6,449 2,000 28,449 41,434 14,985 Cliai'itAble aetivittes: Dii'etl eosts: Contei'ence and woi'kshop Fieldwoi'lc and ieseai'ch costs Stiidentsliip & fellowsliip granls Salai'ies and allowances Aliph pi'ojecl expenses Gi'eeii Hei'ilage project expenses Exceptional ilcm 69,276 69,276 76,280 27,786 365,143 27.786 266,599 98,544 Suppoi't eosts: Rent and util ities Repaii's aiid iiiaintenaiice General expenses I'i'aiispoit and Éi'avel Depi'eci1c tioii Secui'Lty Pi'ovideiit hinds Foreign exchange (gaiii) I loss 12,847 19,120 46,830 12,847 19,1?0 44,015 2,353 21.328 19,340 10,797 11.373 (2,815) 2.353 18.743 2,585 10.797 11.373 Govcrnaiice costs: Audit and accounlaiicy fees Leg1( l Jees Tax expenses (CID 15,359 11,284 11,284 21.443 138,268 2,585 579,891 720,746 Page 27