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2023-03-31-accounts

THE BRITISH INSTITUTE FOR THE STUDY OF IRAQ (GERTRUDE BELL MEMORIAL)

Registered Charity Number 1135395

A company limited by guarantee Registered in England and Wales Number 06966984

10, Carlton House Terrace LONDON | SW1Y 5AH

REPORT AND ACCOUNTS

for

The Year Ended

31 March 2023 2022/2023

Company Number : 06966984 (England and Wales)

Registered Charity Number : 1135395

2[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

CONTENTS

Reference and Administrative Information...........................................................................3 Report of the Council of Management (which also includes the Directors' Report)..4-17 Statement of Council’s Responsibilities..............................................................................18 Independent Examiner’s Report to the Members of The British Institute for the Study of Iraq (Gertrude Bell Memorial) ..............................................................................19 Statement of Financial Activities .........................................................................................20 Balance Sheet.........................................................................................................21 Income and Expenditure account..........................................................................................22 Notes to the Accounts .....................................................................................................23 - 34

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REFERENCE AND ADMINISTRATIVE INFORMATION

Registered Office and The British Academy Principal Address 10 Carlton House Terrace London SW1Y 5AH Bankers Barclays Bank Plc Kings Cross Branch 23 Euston Road London NW1 2SB CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ CCLA Investment Management Ltd 80 Cheapside London EC2V 6DZ Independent Examiners WMT Chartered Accountants 4 Beaconsfield Road St Albans Hertfordshire AL1 3RD Investment Managers Investec 30 Gresham Street London EC2V 7QN United Kingdom Solicitors Jacobs Allen Hammond Solicitors 5 Fitzhardinge Street London W1H 6EF Registered Charity 1135395 Registered Company 06966984 (England and Wales) Website www.bisi.co.uk

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REPORT OF THE COUNCIL OF MANAGEMENT (which also includes the Directors’ Report)

The following were trustees of The British Institute for the Study of Iraq (BISI) when this report was approved

Dr Noorah Al Gailani

Dr Moudhy Al-Rashid

Mr Frank Baker CMG, OBE

Dr Gareth Brereton

Dr Tim Clayden, Hon Treasurer

Prof Paul Collins, Chair of Council

Dr John Curtis OBE, FBA, President

Dr Rosalind Wade Haddon, Vice-Chair of Council

Dr Erica Hunter

Daniel Lowe (appointed 9th November 2022)

Dr Renad Mansour

Dr Eva Miller

Dr Mary Shepperson

The Council presents this report together with the financial statements of BISI for the year ended 31 March 2023. The statements have been prepared in accordance with the accounting policies set out on pages 23-25 and comply with the charity’s regulations, applicable law and the requirements of the Charity SORP (FRS102). The 2023 report and accounts reflect BISI’s activities over the course of the current financial period. They represent the thirteenth year of the charity operating as a company limited by guarantee.

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GOVERNANCE, STRUCTURE AND MANAGEMENT

BISI is governed by its Memorandum and Articles of Association adopted and approved at the Annual General Meeting in December 2009 (available at http://www.bisi.ac.uk )

BISI established itself as a company limited by guarantee in 2010 and commenced operation on 1 July 2010 as a charitable company. BISI’s income comes from its own resources and endowment in addition to income from charitable activities.

Annual General Meeting

BISI holds an Annual General Meeting in November (previously held annually in February) for members to: receive and consider BISI’s accounts and balance sheet, and the reports of Council; appoint the Auditor or Independent Examiner; elect Members of Council and to discuss any matter of business which is properly transacted. The February 2022 Annual General meeting was held in person at the British Academy. Any member of BISI who wishes to be present may attend the Annual General Meeting. Alternatively, members are permitted to send in email ballots for the election of Council members. Unlike in previous years postal voting will not be available.

Council

Patron, President and Honorary Vice President

BISI currently has two Patrons: Sir Terence Clark KBE CMG CVO and Ms Maysoon Al-Damluji, one President: Dr John Curtis OBE FBA, and two Honorary Vice-Presidents: HE Stephen Hitchen, British Ambassador to Iraq and HE Mohammad Jaafar Al-Sadr, Iraqi Ambassador to the UK.

Decision-making: Council and Personnel

Collectively BISI Council Members are responsible for the general control and management of the administration of the charity and take charge of all decisions on a strategic level.

Day-to-day operational decisions and activities are handled by BISI staff members. In the past financial year, the BISI administrative team was comprised of:

Personnel Costs

A volunteer Council is responsible for the overall management of the charity and meets three times a year in London or on digital platform meetings. It delegates much of its work to several Committees of the Council—currently Fieldwork and Research, Finance, Fundraising, University and Museum Engagement, Publications and Archives, and Strategy.

BISI’s current Council members cover a broad range of expertise. The majority of Council members are academics, highly knowledgeable in Mesopotamian, Medieval Islamic and contemporary Iraq. Council members are elected by the full membership to serve a 3-year term. They may be re-elected for a further 3-year term and must then stand down for a minimum of 1 year. This rule does not apply to key office holders. Council members elect a Chair and Vice-Chair from within their ranks. The Hon Treasurer is a member of Council, nominated by the Council and elected by members on an annual basis.

Before joining Council, nominees are requested to review the Charity Commission guidelines ‘CC3 - The Essential Trustee: What you need to know, what you need to do.’ New Council members attend an induction meeting with the Chair and administrative staff and have access to electronic copies of all of BISI’s governance documents. In addition, new trustees are required to sign a ‘Trustee Code of Conduct,’ which outlines their duties and BISI’s expectations of them. Current Council members must complete an annual certification to confirm that they are not disqualified from acting as a charity trustee because of section 178 of the Charities Act 2011.

BISI pays the salary of its Executive Officer at an amount that is reflective of his experience and abilities, and sets the fee according to university norms. It chooses at its model the UCL Non-clinical grade structure with spinal points (http://www.ucl.ac.uk/hr/salary_scales/final_grades.php) . Thus, the Executive Officer’s salary is currently £32,217 including London allowance – the equivalent of UCL Grade 6 spine point 24.

BISI’s self-employed personnel – its Financial Controller and Visiting Scholar Programme Co-ordinator – charge the institute an hourly rate, in line with their expertise and responsibilities.

Support from the British Academy

Since 2009, the British Academy has given BISI valuable support in-kind by providing a London base and the use of administrative resources, as well as providing a venue for meetings and lectures. Over the period of these accounts the British Academy provided BISI with funding to support some of the Institutes most important activities. BISI therefore joins with the other seven British Academy funded institutes, collectively known as the British International Research Institutes (BIRI). The additional resources from the British Academy will help to shape the Institute’s plans going forward. Council is very appreciative of BISI’s long-standing links with the British Academy and the assistance it provides..

Note on BISI’s title: BISI was formerly known as the British School of Archaeology in Iraq (BSAI) until in 2007 it changed its name to reflect the broadening of its academic remit. Whereas our predecessor organisation was focused principally on ancient and pre-modern Iraq, BISI’s academic coverage now includes humanities and social sciences research on modern and contemporary Iraq.

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OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS

BISI’s governing document sets out the aims of the charity as follows:

‘To advance research and public education relating to Iraq and the neighbouring countries in anthropology, archaeology, geography, history, language and related disciplines within the arts, humanities and social sciences.’

We achieve these aims through:

Research and Fieldwork: We promote high-quality research across our academic remit by making grants and providing expert advice and input. We support and facilitate academic exchange and collaboration between the UK and Iraq through programmes of visiting scholars and academic engagement.

Outreach: We inform and engage the public about Iraq through lectures and conferences that add to the public’s understanding of Iraq’s history, society and culture. In addition, we provide expertise and specialist knowledge on Iraq’s heritage and culture to government bodies, journalists and other parties.

Publications: We publish the journal IRAQ, alongside books on the history, languages and culture of Iraq; and facilitate the publication of BSAI research projects that remain unpublished.

In the next few pages, you can read in detail about the activities the BISI has carried out in the period of 2022/2023.

Concerning all BISI endeavours, Council has complied with the duty in section 17 (5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

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CHAIR’S INTRODUCTION TO THE ANNUAL REPORT

With financial support from the British Academy we have been able to expand on our core work of providing research, travel and conference grants. In addition, this has enabled us to have our website redesigned so as to provide much better access to and advocacy for our work. The funding has also allowed the Institute to undertake further activity on cataloguing parts of our archives in advance of digitisation (drawing on expertise from an Academy-funded British International Research Institutes initiative). It means that the Institute is able to remain at the forefront of supporting UK research about Iraq in the arts, humanities and social sciences.

Our Visiting Iraqi Scholarship programme, designed to provide Iraqi academics and heritage professionals with the skills and knowledge to protect and further historical and cultural research on their country, continues to be a fundamental way in which the Institute encourages engagement and collaboration. This vital work is supported by the UCL based Nahrein Network in a partnership designed to develop the capacity of Iraq’s universities, museums, archives and heritage sites to enable cultural and economic growth in the country. An important strand of our fundraising efforts will continue to be around enabling us to employ a part-time manager for this programme. Isobel Ransome stepped down as co-ordinator in November

2022 and Anne-Mari Misconi was appointed to replace her; through their good work, BISI-Nahrein scholars have been working with partners at the BP Archive, the universities of Exeter and Liverpool, and the British Museum.

The success generated by our past conferences (Gertrude Bell in 2013, Basrah Museum in 2016; The Jews of Iraq - Engagement with Modernities in 2019)—in the form of new members, profile raising, academic research, and public outreach—encouraged Council to support an international online conference on Ur in November 2022, marking the centenary of the start of the British Museum-UPenn Museum excavations at the site.

BISI’s Council has seen some changes over the reporting period. Mrs Joan Porter MacIver stepped down after serving the Institute in a number of roles over many decades. I am very grateful to her for all that she has accomplished with energy and enthusiasm, not least in organising two of the conferences listed above and working with me as Vice-Chair over the last several years; Mrs MacIver remains a co-opted member of the Friends of Basrah Museum Committee. I am thrilled that Dr Rosalind Wade-Haddon has agreed to step into the Vice-Chair’s role, to which she brings great knowledge and experience. I am also delighted that Daniel Lowe and Jon Taylor have returned to Council thereby contributing immense expertise in texts and languages of the modern and ancient Middle East.

Finally, as the British Academy continues its rebuilding of its premises, the BISI desk (along with those of the other BIRI) has been moved to a new shared location on the third floor, creating a much-reduced space. As ever, such changes have been calmly and efficiently managed on top of all the regular – and irregular – administrative and reporting demands of the Institute by our Executive Officer, Ali Khadr. My thanks to him as well as to our volunteers for helping us to achieve so much over the past year. Special thanks, of course, go to BISI’s members. Your support remains vital in ensuring that we can continue to work with colleagues in this country and Iraq to encourage research and engagement with Iraq’s past, present and future.

Prof Paul Collins Chair of Council

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RESEARCH AND FIELDWORK

Academic Grants

BISI supports UK-led research and conferences on the lands and peoples of Iraq, from the full breadth of the arts, humanities and social sciences subjects. We do this through the provision of academic grants (up to £4,000 per grant) and a pilot project grant (usually up to £8,000). British Academy funding allowed the BISI to open two rounds of academic grants funding between April 2022 and March 2023. In 2022/2023 we funded fieldwork into contemporary Iraq and two archaeological excavations in-country.

Research Grants

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Ruptured Domesticity Installation at London School of
Economics (image courtesy of Sana Murrani)
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Conference Grants

Whose Heritage? Living with the Legacies of Imperialism, Colonialism, and Nationalism in the Middle East Conference Programme

Pilot Project Grants

The Archaeological Archives Project

In 2015/2016 BISI’s annual £8,000 Pilot Project Grant was diverted to fund the beginnings of an important venture to archive the archaeological records of the current Institute and the BSAI. The project is directed by former BISI Council Member Dr Ellen McAdam, with the assistance of a steering committee. In February 2020 Council agreed to invest a further £6,000 from its reserves for the project.

So far, the diverted grant and additional funds have been used to pay consultants Manda Forster and Rebecca Roberts to conduct a comprehensive survey of the archaeological archives relating to BISI/BSAI excavations, many of which are in the homes and institutional repositories of former field directors and researcheFormer Visiting Iraqi Schola r , Dr Rozhen Mohammed-Amin s and Dr Samantha Paul is now delivering a public lecture at the University of Glasgow working further on the development of the Archives Project. (image courtesy of Dr Mohammed-Amin)

9[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

The project’s ambition is to collate an accessible gazetteer of the sites investigated by BISI/BSAI from the 1930s to the present, as well as to gain a better understanding of the extent of material currently retained in the UK. The final digital and public resource will have clear benefits for research and teaching on Iraq’s pre-historic and ancient past, and the history of British archaeology in Iraq.

Visiting Iraqi Scholarships

BISI’s Visiting Iraqi Scholarship programme enables Iraqi academics and heritage professionals to engage in research, training and collaborative projects in the UK. As well as fostering UK-Iraqi academic exchange, the programme offers scholars from Iraq the chance to access resources and expertise that are not readily available to them at home.

In this financial year, the BISI has partnered with the UCL based Nahrein Network to help develop the capacity of Middle Eastern universities, museums, archives and heritage sites to enable cultural and economic growth in the region. With the generous support of the Nahrein Network, we have hosted four visiting scholars from Iraq.

the Archaeology Department, University of Liverpool. Mabast’s research focused on preserving the early prehistoric sites in Iraqi Kurdistan, assessing environmental and human threats to the preservation of early prehistoric sites in Kurdistan and develop mechanisms that will aid their preservation through dialogue with local communities.

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NN-BISI Visiting Scholar Shazad Jaseem at the British
Museum (image courtesy of Nahrein Network)
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The Nahrein Network has renewed its commitment to the Scholarship Programme and will be generously funding it for the next 10-years. The renewed partnership will allow us to offer two to four Visiting Scholarships each year. Academics, cultural heritage professionals and NGO workers from Iraq will be given the opportunity to visit the UK for 1-2 months of training and research, or to take up an online placement

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NN-BISI Visiting Scholar Mabast Amin outside University
College London (image courtesy of Nahrein Network)
----- End of picture text -----

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OUTREACH

University and Museum Engagement Grants

The BISI University and Museum Engagement Grants are designed to support public engagement projects by staff and/ or students of Higher Education Institutes and cultural heritage organisations that promote a greater understanding of Iraq’s history, society and culture.

As part of this new development, in 2022/2023, we offered support to two grantees to attend:

However, due to strike action being taken by airline staff at the time, both awardees were unable to attend the workshops.

Events

In 2022/2023 BISI furthered its aims to inform and engage the public about Iraq with a series of free lectures held electronically via Zoom and in-person at the British Academy:

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NN-BISI : Dr Tim Clayden speaking on ‘Middle Bronze Age
Kassites; and a Late Bronze Age Kassite Town (image
courtesy of Ali Khadr)
----- End of picture text -----

BISI lectures enable the public to hear experts talking about farreaching subjects on Iraq, from pre-history to the present. The expansion of our public programme to include electronic webinars as a result of the global pandemic has allowed for a widened outreach, with attendees joining from all over the world, including Iraq, USA, and Australia. Each webinar and lecture is followed by a Q&A which facilitates further discussion and exchange of research and ideas between the speakers and attendees.

Those unable to attend BISI webinars or lectures can watch the recordings (also for free) via YouTube or listen to them via the BISI website.

THE NIMRUD DIGITISATION PROJECT

Thanks to generous support from a donor who wishes to remain anonymous, the BISI is working on an important initiative to digitise and release online documents relating to the excavation of Nimrud. This will be an important contribution to the international effort led by the Iraqi State Board of Antiquities and Heritage to manage and conserve this globally important cultural site.

Located about 30 kilometres south of Mosul in northern Iraq, Nimrud was under the control of ISIS until November 2016. During its occupation, many important historical monuments and artefacts were deliberately damaged or destroyed, including rare examples of painted Assyrian relief sculptures.

Between 1949 and 1963, The British School of Archaeology (the predecessor of BISI) undertook excavations at Nimrud, directed by Max Mallowan (The British School’s first Director), David Oates and Jeffrey Orchard. The excavation is arguably one of the most important British archaeological ventures undertaken in the Middle East.

BISI has begun to catalogue the archive and a preliminary list of the excavation notebooks and photographs are now available on the BISI website.

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PUBLICATIONS

Legacy Volumes

The BSAI supported many excavations during its presence in Iraq from the 1930s-1990s, in Iraq and in adjacent countries (e.g., Syria, Kuwait). An ongoing project for BISI today is to ensure that the outstanding reports and data from these excavations are made available in book or online form, in order to benefit academics and the interested public.

BISI published the following book this year, which is available in print-form and online:

We look forward to supporting the authors with outstanding works and hope to guide them through the publication process in due course.

In the meantime, BISI’s back catalogue continues to be freely available as open access PDFs at www.bisi.ac.uk . This includes all of the volumes from the Abu Salabikh, Cuneiform Tablets from Nimrud, Ivories from Nimrud and Samarra Studies series, as well as Archaeological Reports and other occasional publications.

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Abu Salabikh Excavations Volume 5
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Journal IRAQ

BISI’s journal IRAQ has appeared continuously since 1934 except during World War II. Today the journal includes articles on the history, art, archaeology, religion, economic and social life of Iraq and, to a lesser degree, of the neighbouring countries where they relate to it, from the earliest times to about AD 1750.

Cambridge University Press is the publisher of IRAQ and the entire digital archive of IRAQ can be viewed through Cambridge Journals Online by anyone who wishes to take up a subscription. The archive is an invaluable research resource, containing articles by the leading Mesopotamian archaeologists and historians of the past eighty years.

BISI previously awarded the co-editors an Honorarium of £1,000 each in acknowledgement of the enormous amount of work and dedication that goes into every volume. Since IRAQ 80, BISI Council approved for the Honorarium to be used to reimburse the newly expanded Editorial Board for travel costs incurred on Editorial Board duty. The Editors in Chief are supported by an Editorial Board, presently including Council members – Dr Erica C.D. Hunter, Dr Rosalind Wade Haddon, with further expertise provided by Dr Claudia Glatz (University of Glasgow), Professor Eleanor Robson (UCL), Dr Dan Lawrence (University of Durham), and Dr Mark Altaweel (UCL).

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FUNDRAISING AND DEVELOPMENT

The past twelve-month period covered by this report showcases a sustained and strategic effort in our fundraising endeavours. Throughout this time, we have actively engaged in meaningful discussions with potential benefactors and advocates. While the receipt of British Academy funding has alleviated some of the pressure on our core funding requirements at BISI, we remain committed to employing targeted strategies for specific projects.

Presently, our fundraising focus centres on securing subventions for our publications and sustaining the restricted fund dedicated to BISI Visiting Iraqi Scholarships. As our Council continues to evaluate and identify other strategic areas, we will adapt and refine our fundraising goals accordingly. We are especially dedicated to supporting initiatives at the Basrah Museum through collaborative efforts with the BISI FOBM (Friends of Basrah Museum) Committee, the museum itself, and other stakeholders. Our emphasis lies on bolstering the Basrah Museum Research Library and the Learning Room.

VOLUNTEERS

Volunteers are a vital part of the Institute, helping us in the areas of communications, administration, and events. We have not had to call upon volunteers during this financial year. We would like to thank the many volunteers who have so graciously given their time over the years.

In addition, we must credit Mr Daniel Lowe, Ms Jane Weeks, Dr Ellen McAdam, Dr Robert Killick, Dr Helene Maloigne, Dr Nigel Wilson, Ms Clare Bebbington, Ms Liane Butcher, Ms Sarah Cain, and Mr Hugo Clarke, for their valuable contributions and involvement in various BISI Committees.

An instrumental force in our efforts is UCL's Nahrein Network (NN), led by the esteemed former BISI Chairman, Professor Eleanor Robson. The Nahrein Network now generously supports the annual Nahrein - BISI Visiting Iraqi Scholarship scheme. The first year of funding commenced in 2022 and this funding is projected to span a decade, encompassing 4-6 scholars annually.

Guiding our fundraising endeavours is the capable leadership of Mr. Frank Baker CMG OBE, who chairs our Fundraising Committee. His substantial area expertise greatly enriches the committee's discussions and the guidance provided to our Council. It's worth noting that BISI operates without any paid development staff, ensuring that every contribution we receive directly fuels our Institute's activities.

13[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

FUTURE EVENTS AND PLANS

Research and Fieldwork

Over the coming years, BISI will maintain its support of high quality, UK-led research into Iraq, through the provision of research, conference, and pilot project grants.

The BISI has decided to increase the amount of funding available for academic grants in 2023/2024 thanks to the generous support of The British Academy. Grants of up to £6,000 will be available for research and conference grants and £10,000 will be made available for the pilot project grant.

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Ruptured Domesticity Public Talk (image courtesy of
Sana Murrani)
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Visiting Iraqi Scholarship Programme

In December 2022, Ms Anne-Marie Misconi, was appointed the role of the Visiting Iraqi Scholarship Co-ordinator. Ms Misconi will manage the scholarships of upcoming Iraqi academics who we look forward to welcoming to the UK, as Nahrein – BISI Scholars.

The Nahrein Network will be financially supporting BISI’s Visiting Iraqi Scholarships over the next 10-years. BISI and the Nahrein Network will be offering two to four Visiting Scholarships each year to enable academics, cultural heritage professionals and NGO workers from Iraq to visit the UK for 1-2 months for training and research, or to take up an online placement.

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NN-BISI Visiting Scholar Shazad Jaseem with Prof Paul
Collins at the British Museum (image courtesy of Nahrein
Network)
----- End of picture text -----

Outreach

BISI has replaced the Outreach Committee with a University and Museum Engagement Committee. The University and Museum Engagement Committee will be provided with a budget to actively pursue and encourage university groups to work with BISI as part of a UK-wide network.

BISI will continue to organise an annual lecture programme, which will be determined by the Chair, Vice-Chair and Executive officer with contributions from Council.

We have three in-person lectures and two webinars currently scheduled for 2023. We are working on scheduling more lectures for 2023 and 2024, covering Iraq, ancient and modern, which will be held both online and at the British Academy:

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Prof Dirk Wicke speaking on ‘Nimrud Bowls and Ivories’
at the British Academy (image courtesy of Ali Khadr)
----- End of picture text -----

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Publications

Over the next few years, the Publications Committee will work closely with authors who have outstanding reports on BSAI-led excavations to ensure that their findings are disseminated as widely and expeditiously as possible.

It is anticipated that the following books will be published in 2023/2024:

Fundraising and Development

The Fundraising Committee will continue its efforts to fundraise for key strategic projects and any future strategic requirements that are determined by Council. Due to unforeseen circumstances the outreach school and community training programme that was due to take place in 2022 was postponed. We hope that the training programme can take place at some point in the near future, led by BISI Trustee Dr Noorah Al Gailani, the training will take place at the Basrah Museum, and will utilise the donations of our past generous institutional donor, The Charlotte Bonham-Carter Charitable Foundation and Clare Bebbington. Working with the Iraqi colleagues within the State Board of Antiquities and Heritage and the Museum, will be essential, particularly with the departure of Mr Qahtan Al Abeed from his role in Basra. BISI may also be coordinating this work with other stakeholders and charitable groups.

A highlight on our horizon is the upcoming special lecture by Prof. Joseph Sassoon titled ‘The Global Merchants: The Enterprise and Extravagance of the Sassoon Dynasty’. This lecture, made possible through the generous support of Dangoor Education, presents an exceptional opportunity for the Institute to convene our valued members and supporters at The British Academy. We extend our gratitude for the consistent support we've received from Dangoor Education in the past. It is our hope that this lecture will serve as a platform for BISI to attract new members and foster additional support.

Throughout this financial year, BISI has continued to experience the invaluable and deeply appreciated support from its dedicated membership base.

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FINANCIAL REVIEW

The accounts for the period ended 31 March 2023 are attached to this report and a review of BISI’s transactions and financial position is set out below.

BISI had net outgoing resources of £105,706 after net losses on investment assets of £93,217. This was made up of a deficit for the year for unrestricted funds of £92,727 to support BISI’s on-going work and a deficit to the restricted funds for the year of £1,653. The investment loss on the endowment fund after investment manager fees was £11,326.

Investment assets within the Investec portfolio were marked to market at the year-end and resulted in net realised and unrealised losses of £93,217 for the year. (Unrealised losses for the year were £86,055 and realised losses were £7,162.)

Unrestricted Funds

BISI had four principal sources of unrestricted income. They were from donations and legacies (£11,194), membership subscriptions (£4,294), investment income from the investment assets (£40,124) and publication sales (£10,865). In addition BISI earned £2,000 consultancy income in the year.

Restricted Funds

BISI has a number of projects supported by restricted funds the details of which can be found in note 16.

Continued activity in the Visiting Iraqi Scholars Programme resulted in net outgoing resources of £6,283.

As detailed in note 16 there were two new sources of restricted income this year namely the British Academy and the British Council (through the Cultural Protection Fund).

Investment Policy

Decisions about what form of investment will be most suitable for the needs of BISI are influenced by both the short-term and long-term future of BISI and the effects of market fluctuations and inflation on capital and income.

The Charity’s investment portfolio rose in value by 2% over the year. The Charity did not extract any cash from the portfolio in addition to dividends during the period.

The current investment policy statement continues to reflect the current position of the Institute.

Current Investment Policy Statement

  1. The statement is produced in accordance with section 15 of the Trustee Act.

  2. The Trustees have agreed to delegate the investment of specified funds to Investec.

  3. The investment policy of The British Institute for the Study of Iraq is to seek to produce the optimal total return from its investment portfolio, with the target being the Consumer Price Index plus 5% on an annualised basis over rolling three-year periods.

  4. The Trustees wish to adopt a low-medium risk strategy. This should be achieved through a diversified portfolio of investments.

  5. The investment manager should have regard to the suitability of investments pertaining to a charity and monitored by the Charity Commission.

  6. The Trustees are willing to agree the widest range of investments as permitted by the Trustee Act 2000, with consideration to the aforementioned.

  7. A review of the investments is to be provided by the investment manager to The British Institute for the Study of Iraq’s Finance Committee on the basis determined by the committee.

  8. The Finance Committee will undertake periodic reviews (every two or three years) of the investment performance and will contact other investment advisers during this review.

16[The British Institute For The Study Of Iraq]

[(Gertrude Bell Memorial)]

Statement about Risk and Reserves Policy

The Council undertakes a review of the major risks to which BISI is exposed, and systems designed to mitigate those risks have been considered.

The Institute is currently heavily dependent on investment income to sustain its activities, as earned income alone, from membership subscriptions and publication income, is insufficient to cover the charity’s operating costs. Relying only on earned income would require BISI to significantly deplete capital within the investment portfolio which could impact the viability of the Institute in the medium to long term.

To avoid this risk, the trustees have agreed to keep levels of unrestricted cash reserves to ensure that main operations can continue for a period of up to approximately 12 months.

The main concerns of the board are to ensure:

At the period-end unreserved cash reserves in the Institute's current accounts sat at 5 months of operational costs but the trustees recognise that the investment portfolio is highly liquid, and at the year end contained a further 10 months of unrestricted cash available on demand.

The level of reserves is monitored every quarter by the finance manager.

This policy is reviewed yearly and whenever there are significant changes in annual running costs. If it should appear likely that these limits will be breached, Council should consider, on the recommendation of the Finance Committee, what appropriate action to take.

A Note on BISI’s Heritage Assets: The Ivories from Nimrud

(See also note 8 to the accounts)

BISI is the custodian of ivories excavated from Nimrud in an excavation led by Sir Max Mallowan for the British School of Archaeology in Iraq (BSAI) in the mid-twentieth century. The value of the ivories is such that, through its accounts, BISI may appear to be in a comfortable financial position. However, the ivories are a non-income earning asset and are not BISI’s to sell, only to protect. The ivories came to us in an era in which it was standard practice for archaeological expeditions to keep some of their finds, and while we have a duty of care towards these precious artefacts, BISI is not in a position to profit from them. Currently the ivories are in long-term safe-keeping at the British Museum covered by government indemnity.

In 2015, after consideration by the Trustees, BISI decided to move the value of the ivories from the general unrestricted fund to a designated fund. This move reflects the restrictions on use applied to the ivories and demonstrates that, although the ivories have significant monetary value, BISI is not able to access that value in an unrestricted manner. As such the ivories are a non-income earning asset and are not BISI’s to sell, only to protect.

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The following served as members of the BISI Council for all or part of the period ended 31 March 2023.

Dr Noorah Al Gailani

Mr Frank Baker CMG, OBE Dr Gareth Brereton Dr Tim Clayden, Hon Treasurer Prof Paul Collins, Chair of Council Dr John Curtis OBE, FBA, President Dr Erica C.D. Hunter Mr Daniel Lowe Dr Renad Mansour Dr Eva Miller Dr Mary Shepperson

Dr Jon Taylor Dr Rosalind Wade Haddon, Vice-Chair of Council

The Report of Council also represents a Directors report as required by s417 of the Companies Act 2006. Advantage has been taken of the exemptions available to small companies in the preparation of this report.

BY ORDER OF THE COUNCIL

………………………………

Paul Collins - Chair of Council Date: 27/10/2023

18[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

STATEMENT OF COUNCIL’S RESPONSIBILITIES

The members of Council (who are also directors of The British Institute for the Study of Iraq for the purposes of company law) are responsible for preparing the Council’s 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 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, Council is required to:

Council is 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.

Council is responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to the independent examiner.

Each of the persons who is a Trustee at the date of approval of this report confirms that:

19[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Independent Examiners report to the Trustees of the British Institute for the Study of Iraq (Gertrude Bell Memorial)

I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of the British Institute for the Study of Iraq (Gertrude Bell Memorial) (‘the charitable company’) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I confirm that I am qualified to undertake the examination because I am a member of ICAEW. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Elizabeth Wicks ACA Date : 27[th] October 2023

WMT Chartered Accountants

4 Beaconsfield Road, St Albans, Hertfordshire, Al1 3RD

20[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Statement of Financial Activities

For the year ended 31 March 2023


Notes
Unrestricted
Funds
2023
(£)
Designated
Funds
2023
(£)
Restricted
Funds
2023
(£)
Endowment
Fund
2023
(£)
Total
Year to
31 March
2023
(£)
Total
9 months to
31 March
2022
(£)
Notes
Unrestricted
Funds
2023
(£)
Designated
Funds
2023
(£)
Restricted
Funds
2023
(£)
Endowment
Fund
2023
(£)
Total
Year to
31 March
2023
(£)
Total
9 months to
31 March
2022
(£)
Statement of Financial Activities
Income and Endowment from:
Donations and
legacies
2
11,194
-
-
-
11,194
17,856
Charitable Activities
3
17,159
-
105,955
-
123,114
11,056
Investment income
4
40,124
-
161
-
40,285
31,907
Total Income and
Endowment
68,477
-
106,116
-
174,593
60,819
Expenditure on:
RaisingFunds:
5
(7,435)
-
(33)
(936)
(8,404)
(6,622)
Charitable Activities:
6
(71,316)
-
(107,362)
-
(178,678)
(110,786)
Total Expenditure
(78,751)
-
(107,395)
(936)
(187,082)
(117,408)
Net (losses)/ gains on
investments
9
(82,453)
-
(374)
(10,390)
(93,217)
32,057
Net
income/(expenditure)
(92,727)
-
(1,653)
(11,326)
(105,706)
(24,532)
Net movement in funds
(92,727)
-
(1,653)
(11,326)
(105,706)
(24,532)
Reconciliation of Funds
Brought forward
1,100,432
1,326,000
39,956
150,876
2,617,264
2,641,796
Carried forward
1,007,705
1,326,000
38,303
139,550
2,511,558
2,617,264

21[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Balance Sheet

At 31[st] March 2023

Notes
31 March
2023
(£)
31 March
2022
(£)
Fix ed Assets:
Tangible assets
7
3,134
560
Heritage assets
8
1,326,000
1,326,000
Investments
9
1,133,649
1,235,270
Total
Cu		 Fixed Assets:
2,462,783
2,561,830
rrent assets:
Stocks
13,714
13,736
Debtors
10
11,799
2,276
Cash at bank and in hand
11
95,393
97,499
Total
Lia		 Current assets:
120,906
113,511
bilities
Creditors: Amounts fallingdue within oneyear
12
34,245
20,553
Total
Th		 Liabilities
34,245
20,553
Net Current Assets
86,661
92,958
Net current asset excluding provision for liabilities
86,661
92,958
Defined benefit pension scheme liability
14
37,886
37,524
Total Net Assets
2,511,558
2,617,264
e Funds of the charity:
Restricted Funds
19
38,303
39,956
Endowment Fund
19
139,550
150,876
Unrestricted Funds
19
1,007,705
1,100,432
Designated Funds(Nimrud Ivories)
19
1,326,000
1,326,000
Total Funds of the charity
2,511,558
2,617,264

For the year ending 31st March 2023 the Institute was entitled to exemption from audit under the provisions of Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The Council acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts.

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

Under Companies Act 2006, section 454, on a voluntary basis, the trustees can amend these financial statements if they subsequently prove to be defective.

Approved by the Council and signed on its behalf:

Prof Paul Collins

Chair of Council Dated 27[th] October 2023

Charity Registration No. 1135395 Company Registration No.06966984 (England and Wales)

22[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)

Income and Expenditure account

The British Institute for the Study of Iraq For the year ended 31 March 2023

Year to 31
March 2023
9 months to
31 March
2022
Notes
£
£
Income
Income
2,3
134,308
28,912
(Losses)/Gains on investments
(93,217)
32,057
Interest and investment income
4
40,285
31,907
Gross income in the reporting period
81,376
92,876
Expenditure
Expenditure
(186,514)
(117,047)
Depreciation
(568)
(361)
Total expenditure in the reporting period
(187,082)
(117,408)
Tax payable
-
-
Net (expenditure) for the reporting period
(105,706)
(24,532)

23[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)

Notes to the Accounts

1. Accounting Policies

Basis of Preparation and assessment of going concern

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)( 2[nd] Edition effective January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Financial Statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets, and the inclusion of investments at market value.

The Charity constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Income

All incoming resources are included in the Statement of Financial Activities when the Institute is legally entitled to the income, it is probable that the income will be received, and the amount can be quantified with reasonable accuracy.

Where applicable income is stated after trade discounts and net of VAT.

Investment income is recorded when receivable. Income arising on endowment funds is treated as unrestricted.

Gift aid reclaimable on donations to the charity is included with the amount received.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of the service provided by the volunteers has not been included in these accounts.

Expenditure

Grants are included in the accounts in the period to which they relate. Time related grants received in advance are treated as deferred income.

Fixed Assets

Tangible fixed assets over £500 are capitalised and included at cost including any incidental expenses of acquisition. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows;

Computer and Office Equipment: 3 years straight line.

24[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)

Heritage Assets

The ivories held by the British Museum were donated to the Institute and have been treated as heritage assets and included in the accounts at market value. No depreciation has been charged on these assets (see note 8) as they are considered to have an indefinite life.

Investments

Investments are carried at market value. Changes in market value are recognised in the Statement of Financial Activities in the year that they occur.

The value of Investment transactions (purchase price, sale price, unrealised and realised gain) are apportioned across the general and restricted funds in line with the value generated by the sale of each fund portfolio when the investment managers were changed in 2015.

Financial Instruments

The Charity only enters into basic financial instrument 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 report period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the SOFA.

Debtors

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

Stock

Stock of publications is valued at the lower of cost and net realisable value.

Cash at bank and in hand

Cash at bank and in hand includes the current bank accounts and no notice deposit bank accounts of the Institute.

Liabilities

Liabilities for expenditure are recognised in accordance with the accruals concept. Support costs are allocated in full to expenditure incurred on charitable activities. The majority of costs are allocated on a pro-rated basis over the different activities undertaken by the institute, excluding activities which are financed by restricted funds. Support costs which are related to a specific activity are allocated to that activity in full. The Trustees consider this to be the most appropriate method of allocation.

Judgements, Estimates and Assumptions.

The preparation of the financial statements requires management to make judgements, 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 period. The nature of estimation means the actual outcomes could differ from those estimates. Estimates relating to the Institute’s pension scheme and their impact on the financial statements are detailed in note 14.

25[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial) Notes to the Accounts (continued)

Pension Scheme

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) with the resulting expense charged through the profit or loss account in accordance with section 28 of FRS 102. The directors 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 these financial statements.

The institution participates in Universities Superannuation Scheme. 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.

Unrestricted (£)
Restricted
(£)
Endowment
(£)
Total
Year to
31
March
2023
(£)
Total 9
months
to 31
March
2022
(£)
2. Income from Donations and Legacies
Donations
1,445
-
-
1,445
2,586
Gift aid recoverable
29
-
-
29
270
Provision of office facilities and rent in kind
9,720
-
-
9,720
15,000
Total Income from Donations and Legacies
11,194
-
-
11,194
17,856
Unrestricted (£)
Restricted
(£)
Endowment
(£)
Total
Year to
31
March
2023
(£)
Total 9
months
to 31
March
2022
(£)
3. Income from Charitable Activities
Grants
-
105,955
-
105,955
-
ConsultancyFee
2,000
-
-
2,000
-
Membershipsubscriptions
4,294
-
-
4,294
6,112
Publication sales and copyright fees
10,865
-
-
10,865
4,944
Total Income from Charitable Activities
17,159
105,955
-
123,114
11,056
Unrestricted (£)
Restricted
(£)
Endowment
(£)
Total
Year to
31
March
2023
(£)
Total 9
months
to 31
March
2022
(£)
4. Income from Investments
Investment income
40,021
161
-
40,182
31,906
Bank interest
103
-
-
103
1
Total Income from Investments
40,124
161
-
40,285
31,907

26[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)

Unrestricted (£)
Restricted
(£)
Endowment
(£)
Total
Year to
31
March
2023
(£)
Total 9
months
to 31
March
2022
(£)
5. Expenditure on Raising Funds
Investment manager fees
7,435
33
936
8,404
6,622
Total Expenditure on Raising Funds
7,435
33
936
8,404
6,622
Unrestricted
(£)
Restricted
(£)
Endowment
(£)
Total Year
to 31
March
2023 (£)
Total 9
months to
31 March
2022
(£)		 Unrestricted (£)
Restricted
(£)
Endowment
(£)
Total
Year to
31
March
2023
(£)
Total 9
months
to 31
March
2022
(£)
5. Expenditure on Raising Funds
Investment manager fees
7,435
33
936
8,404
6,622
Total Expenditure on Raising Funds
7,435
33
936
8,404
6,622
Unrestricted
(£)
Restricted
(£)
Endowment
(£)
Total Year
to 31
March
2023 (£)
Total 9
months to
31 March
2022
(£)
6. Expenditure on charitable activities
Grantspayable(note 6a)
(6,985)
50,068
-
43,083
(230)
Other charitable activitycosts(note 6b)
78,301
33,247
-
111,548
111,016
Cultural Protection Fund Project
-
24,047
-
24,047
-
Tot al Expenditure on charitable activities
71,316
107,362
-
178,678
110,786
Unrestricted
(£)
Restricted (£)
Endowment
(£)
Total
Year to
31 March
2023(£)
Total 9
months to
31 March
2022(£)
6a. Grants Payable
Grants Payable
Research,Travel and Conference Grants
-
21,340
-
21,340
-
UniversityEngagement Grants
1,000
-
-
1,000
250
Pilot Project Grants
-
13,460
-
13,460
-
Grants not taken up
-
(4,000)
-
(4,000)
-
Returned Grants
(7,985)
-
-
(7,985)
(269)
VisitingScholars Grants
-
19,268
-
19,268
(211)
Total Grants Payable
(6,985)
50,068
-
43,083
(230)
Unrestricted
(£)
Restricted (£)
Endowment
(£)
Total
Year to
31 March
2023 (£)
Total 9
months to
31 March
2022 (£)
Gr ants Payable - BISI madegrants to 13 individuals in theperiod(1 individual in 2022)
Research, Travel and Conference grants
Neil Fleming :The Church of England and Iraq's Assyrian
Minority, c. 1920-1939
-
490
-
490
-
Andrew Petersen : Dokan Ottoman Fort: Architectural
Survey and Excavation Project
-
4,000
-
4,000
-
Michelle de Gruchy : Reconstructing Ancient Traffic
Patterns in Iraq from Archaeological Evidence
-
4,000
-
4,000
-
Sana Murrani : Ruptured Domesticity: A Visual Narrative
of Domestic Responses to War in Iraq
-
4,000
-
4,000
-
Monica Palmero Fernandez : Investigating Practices of
Academic Research in the Fields of Archaeology and
Heritage in Iraq since 2003
-
2,000
-
2,000
-
Nicholas Postgate : Continuation of Fieldwork at Abu
Salabik
-
4,000
-
4,000
-
Diana Stein : MITTANI: An Enigmatic Empire
-
700
-
700
-
Joseph Barber : The Ninth Annual Postgraduate
Conference in Assyriology
-
1,200
-
1,200
-
Eva Miller : Whose Heritage? Living with the Legacies of
Imperialism, Colonialism, and Nationalism in the Middle
East
-
950
-
950
-
Total Research, Travel and Conference Grants
-
21,340
-
21,340
-

27[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)

University and Museum Engagement Grants (previousl
Lara Bampfield
Benjamin Caspi
Liam Devlin
 y Outreach Grants)
500
-
-
500
-
500
-
-
500
-
-
-
-
-
250
Total University and Museum Engagement grants
(previously Outreach Grants)		 1,000
-
-
1,000
250

Pilot Project grants
Dahab Aglan : Integration of Displaced Population in the
Kurdistan Region of Iraq
Taif Alkhudary : Gendered Networks of Power: The
Parliamentary Quota and Women’s Substantive Political
Representation in Iraq		 -
5,600
-
5,600
-
-
7,860
-
7,860
-

Total Pilot Project Grants		 -
13,460
-
13,460
-

Grants payable – Visiting Scholars

BISI funded 4 visiting scholars during 2022/23 (during 2021/22 BISI funded no scholars due to the COVID 19 pandemic).

Unrestricted
(£)
Restricted (£)
Endowment
(£)
Total
Year to
31 March
2023
(£)
Total 9
months to
31 March
2022
(£)
Visiting Scholar grants
Mabast A. Muhammad Amin -
3,393
-
3,393
-
Shazad Jaseem -
6,743
-
6,743
-
Dilshad Oumar Abdul Aziz
Dr Dhiaa Kareem Ali Janaby		 -
3,976
-
3,976
-
-
5,156
-
5,156
-
Dr Laith Hussein -
-
-
-
(211)
Total Visiting Scholar Grants -
19,268
-
19,268
(211)
Unrestricted
(£)
Restricted (£)
Endowment
(£)
Total
Year to
31 March
2023
(£)
Total 9
months to
31 March
2022
(£)
b . Other Charitable Activity Costs
P rogramme related costs
V isitingScholars expenditure -
8,075
-
8,075
647
U R Conference -
2,531
-
2,531
-
B asrah Conference -
419
-
419
-
L ondon activities and lecture expenditure 3,943
1,102
-
5,045
3,052
B ISI Archaeological Archives -
940
-
940
-
P R,newsletter and website expenses 1,940
12,952
-
14,892
761
T
O		 otal Programme related costs
ther direct costs		 5,883
26,019
-
31,902
4,460
P rintingannual report 765
-
-
765
1,139
P ublication andjournal costs 2,182
-
-
2,182
16,931
T
S		 otal Other direct costs
upport costs allocated to activities		 2,947
-
-
2,947
18,070
L ondon office salaries and contractor costs 44,794
-
-
44,794
32,513
P ension costs 7,587
-
-
7,587
30,510
O ffice expenditure 3,035
1,086
-
4,121
4,793
R estricted fund charge for fixed assets (3,142)
3,142
-
-
R ent and service charges 9,720
-
-
9,720
15,000
B ank and credit card charges 1,157
-
-
1,157
861
S torage 750
3,000
-
3,750
-
E xamination fee 4,249
-
-
4,249
3,856
P ayroll costs 572
-
-
572
417
C ouncil meetingand travel expenses 181
-
-
181
175
D epreciation 568
-
-
568
361
T otal Support costs allocated to activities 69,471
7,228
-
76,699
88,486
T otal other charitable activity costs 78,301
33,247
-
111,548
111,016

28[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)






D



 7. Fixed Assets
Cost
brought forward 1st April 2022
Additions
carried forward at 31 March 2023

epreciation
brought forward 1st April 2022
Charge for the year
carried forward at 31 March 2023
NBV at 31 March 2022
NBV at 31 March 2023
 Office
Equipment
Total
£
£
1,442
1,442
3,142 3,142
4,584
4,584
882
882
568
568
1,450
1,450
560
560
3,134
3,134
Designated Funds
(£)
8 . Heritage Assets- movements in the period
brought forward 1 April 2022 1,326,000
Movements in the year -
carried forward at 31 March 2023 1,326,000

The heritage assets of The British Institute for the Study of Iraq are held at cost.

During 2010/11 the Council of The British Institute for the Study of Iraq signed a memorandum of understanding with the British Museum, that detailed the donation by the charity of certain specific ivories totalling £1,404,000 in value in consideration of the care the Museum had taken in conserving these valuable heritage assets for over two decades. The Museum was able to raise funds through its ‘Nimrud Ivories Appeal’ to acquire specific ivories totalling £1,170,000 in value from the Institute and the sixty-five ivories, valued at £1,326,000 have been retained and are shown in the accounts as heritage assets. The Institute retains a written record describing the 65 ivories and as part of the arrangements the British Museum will continue to take care of these ivories, which will now be covered under UK government indemnity against loss or damage. There is currently no public access available to the ivories.

The value of the Nimrud Ivories is recorded within a designated fund within the Institute’s accounts. This designation recognises that the Trustees are not able to dispose of the Ivories on the open market.

29[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)

9. Investments
Investments
Listed Investments
Endowment Fund
Total Endowment Funds
Restricted Funds
Bonham Carter Lecture Fund
Mallowan Fund
Total Restricted Funds
Unrestricted Funds
Total Unrestricted Funds
Total Investments
Total Endowment Fund
Total Restricted Funds
Total Unrestricted Funds
Total
Movement in Investment Assets
Brought forward at 1 July
Investment additions
Investment disposal proceeds
Investment realised and unrealised gains/(losses)
Investments carried forward
Capital Account
Total carried forward		 31 March 20
Cost
Market Val
£
124,066
126,3		 23
31 March 2022
ue
Cost
Market Value
£
£
£
55
124,958
137,681
124,066
126,3		 55
124,958
137,681
2,336
2,3
2,130
2,1		 79
2,353
2,592
69
2,145
2,363
4,466
4,5		 48
4,498
4,955
984,584
1,002,7		 46
991,493
1,092,634
984,584
1,002,7		 46
991,493
**1,092,634 **
31 March 20
Cost
Market Val
£
124,066
126,3
4,466
4,5
984,584
1,002,7		 23
31 March 2022
ue
Cost
Market Value
£
£
£
55
124,958
137,681
48
4,498
4,955
46
991,493
1,092,634
1,113,116
1,133,6		 49
1,120,949
1,235,270
2023
2022
(£)
(£)
1,120,547
1,174,158
328,937
103,267
(244,491)
(188,935)
(93,216)
32,057
1,111,777
1,120,547
21,872
114,723
1,133,649
1,235,270
31 March 2023
(£)
31 March 2022
(£)
10. Debtors
Other Debtors 7,500
-
Prepayments 3,070
1,404
Publication Income due 1,065
467
Tax Recoverable 164
405
Total Debtors 11,799
2,276
31 March 2023
(£)
31 March 2022
(£)
11. Cash at bank and in hand
Current Accounts and Cash 92,801
94,907
Deposit Accounts 2,592
2,592
Total Cash 95,393
97,499

30[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)

Notes to the Accounts (continued)
31 March 2023 31 March 2022
(£) (£)
12. Creditors– due in less than one year
Trade Creditors 9,703 5,735
Grants Payable 19,589 9,499
Accruals 4,200 5,000
VAT Payable 753 319
Total Creditors due in less than one year 34,245 20,553
Year to 9 months to
31 March 2023 31 March 2022
(£) (£)
13. Employees
Salaries 33,450 24,038
Pension Contributions 7,587 5,121
Total Employees 41,037 29,159

The Institute employed 1 full-time employee during the year (2022:1) One employee received remuneration between £40,001- £50,000, (2022 – 9 month period :1 between £20,001 and £30,000) Key management personnel compensation for 2023 was £41,037 (2022 - £29,159)

14. Pension Costs and Provisions

The total cost charged to the profit and loss account is £7,587 (prior year: £30,510). Deficit recovery contributions due within one year for the institution are £1,126 (prior year: £648).

2023 2022
(£) (£)
Provision for Liabilities
Pension Deficit Provision b/f 37,524 12,135
Pension Deficit charge for theyear 362 25,389
Pension deficit provision c/f 37,886 37,524

The latest available complete actuarial valuation of the Retirement Income Builder is as at 31 March 2020 (the valuation date), and 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 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 ( uss.co.uk/about-us/valuation-and-funding/statement-of-funding-principles ).

CPI assumption Term dependent rates in line with the difference between the Fixed Interest and Index Linked yield
curves less:
1.1% p.a. to 2030,reducinglinearlyby0.1% p.a. to a long-term difference of 0.1% p.a. from 2040
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% p.a.
Post retirement: 1.00% p.a.

The main demographic assumptions used relate 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:

31[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)

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% p.a. and a long-term
improvement rate of 1.8% pa for males and 1.6% pa for females

The current life expectancies on retirement at age 65 are:

2023 2022
Males currentlyaged 65(years) 24.0 23.9
Females currentlyaged 65(years) 25.6 25.5
Males currentlyaged 45(years) 26.0 25.9
Females currentlyaged 45(years) 27.4 27.3

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 2023 deficit recovery liability reflects this plan. The liability figures have been produced using the following assumptions:

2023 2022
Discount rate 3% 3%
Pensionable salary growth 5% 5%

15. Related Party Transactions

During the year, 1 Trustees were reimbursed for travel expenses of £123 (2022: 2 Trustees £175).

No trustees received remuneration in the year or in the prior period.

One trustee was awarded a grant of £950 (Prior period £nil). The trustee played no part in the grant awarding process.

During the year, BISI received a grant from the Cultural Protection Fund. Under the terms of the grant agreement the Trustee who undertook the project was entitled to a fee of £2,000.

A gift costing £58 was given to a trustee on their resignation from the Council (Prior period £nil)

In the prior period one trustee raised an invoice for editorial work of £1,000 which was included in the period end creditors.

32[The British Institute For The Study Of Iraq]

[(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)

British Institute for the Study of Iraq (Gertrude Bell Memorial)
Notes to the Accounts (continued)
Visiting
Scholar
Fund
2023
(£)
Bonham
Carter
Lecture
Fund
2023
(£)
Mallowan
Fund
2023
(£)
British
Academy
Fund
2023
(£)
Cultural
Protection
Fund
2023
(£)
Nimrud
Digitisati
on Fund
2023
(£)
Basrah
Museum
Fund
2023
(£)
Total
Restricted
Funds
Year to 31
March 2023
(£)
1 6. Restricted Income Funds
Grants
20,000
-
-
60,205
25,750
-
-
105,955
Investment Income
-
84
77
-
-
-
-
161
RaisingFunds
-
(17)
(16)
-
-
-
-
(33)
Charitable activities expenditure
(26,283)
(75)
(50)
(53,535)
(24,046)
(2,882)
(491)
(107,362)
Losses on revaluations and
disposal of investment assets
-
(196)
(178)
-
-
-
-
(374)
Net income/(expenditure)
(6,283)
(204)
(167)
6,670
1,704
(2,882)
(491)
(1.653)
Transfer between restricted funds
-
-
-
-
-
-
-
Net movement in Funds
(6,283)
(204)
(167)
6,670
1,704
(2,882)
(491)
(1,653)
Fund balance b/f
9,761
3,948
3,233
-
8,168
14,846
39,956
Fund balance c/f
3,478
3,744
3,066
6,670
1,704
5,286
14,355
38,303

The original Appeal Committee transferred all investments held for or on account of the Appeal Fund to the British School of Archaeology in Iraq (Gertrude Bell Memorial) as an endowment, to be administered by the Council of the School pursuant to the resolution passed at a meeting held on the 14th day of January 1932. The Council has the power from time to time to vary or transpose any investments forming part of the Endowment Fund. On 23 January 2007 the Bell Fund was transferred from the British Museum to the British School of Archaeology in Iraq for its endowment. The Charity changed its name with the approval of its members on 12 December 2007 and all the assets are now in the name of The British Institute for the Study of Iraq (Gertrude Bell Memorial).

The Bell Fund was created by the bequest from Gertrude Lowthian Bell CBE (died on 12 July 1926). "To pay the sum of six thousand pounds to the trustees for the time being of the British School of Archaeology in Iraq if shall have been founded before my death such sum to be invested by them and the income thereof to be used by them for archaeological work in Iraq..." (the first bequest) and by a second bequest from Sir Thomas Hugh Bell (died on 29 June 1931) of four thousand pounds. As the British School of Archaeology in Iraq was not established until 14 January 1932, the first bequest and the second bequest were vested in the Retiring Trustees of the British Museum, who invested the same and paid the income therefore to the trustees from time to time of the British Museum to the British School of Archaeology in Iraq.

In 1973/74 The Bonham Carter Lecture Fund was endowed to support the lecture expenses of the Bonham-Carter lecture which takes place annually in memory of Lady Charlotte Bonham-Carter, a long standing member of the former Executive committee of the BSAI Council. In 1977 Sir Max Mallowan bequeathed £2,500 for an endowment to the school. The income derived from the bequest was to be applied to the costs of providing an annual dinner at which a toast was to be made in memory of Sir Max and his late wife Dame Agatha Mallowan DBE. In 2004 the school approached Mrs Rosalind Hicks (Dame Agatha's daughter) and Mr Matthew Prichard and members of the family who agreed that the bequest could be utilised to support the costs of the Annual General Lecture.

The Sumerians Fund was funded by the generosity of David Dangoor and Dangoor Education with the aim of producing a book for children on the Sumerians. The donor kindly agreed that the remaining balance on the fund could be used for the Arabic translation and publication of the B ISI Basrah Conference.

The Nimrud Digitisation Fund was established thanks to generous support from a donor who wishes to remain anonymous. BISI is undertaking this important initiative to digitise and release online documents relating to the excavation of Nimrud. This will be an important contribution to the international effort led by the Iraqi State Board of Antiquities and Heritage to manage and conserve this globally important cultural site.

During a previous year the Friends of Basrah Museum Charity transferred its funds (£2,809) to the British Institute for the Study of Iraq. Those funds plus other donations received for similar purposes have been included in the accounts as the Basrah Museum Fund with further donations for work on the Basrah Museum Library, Learning Room and Museum training.

The Cultural Protection Fund relates to a grant awarded by the British Council in 2022 for the purpose of evaluating the CPF funded project ‘The Completion of a New Museum for Basrah in Iraq’ which was awarded in 2016 to The Friends of Basrah Museum. That Charity formally merged with the BISI in October 2020.

The British Academy Fund contains funds granted by the British Academy for research grants and projects and archive projects undertaken by BISI.

32

33[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)

British Institute for the Study of Iraq (Gertrude Bell Memorial)
Notes to the Accounts (continued)		 British Institute for the Study of Iraq (Gertrude Bell Memorial)
Notes to the Accounts (continued)
Visiting
Scholar Fund
2022
(£)
Bonha
m
Carter
Lectur
e Fund
2022
(£)
Mallowan
Fund
2022
(£)
Sumerians
Fund
2022
(£)
Nimrud
Digitisation
Fund
2022
(£)
Basrah
Museum Fund
2022
(£)
Total
Restricted
Funds
9 months
to 31 March
2022
(£)
17. Comparative period Restricted
Income Funds
Donations and legacies
-
-
-
-
-
1,250
1,250
Charitable activities income
-
-
-
-
-
-
-
Investment Income
-
67
61
-
-
-
128
RaisingFunds
-
(14)
(13)
-
-
-
(27)
Charitable activities expenditure
(436)
(75)
(50)
(2,292)
-
(639)
(3,492)
Gains/(losses) on revaluations
and disposal of investment
assets
-
67
61
-
-
-
128
Net income/(expenditure)
(436)
45
59
(2,292)		 -
611
(2,013)
Transfer between restricted
funds
-
-
-
(4,426)
-
4,426
-
Net movement in Funds
(436)
45
59
(6,718)		 -
5,037
(2,013)
Fund balance brought forward
10,197
3,903
3,174
6,718
8,168
9,809
41,969
Fund balance carried forward
9,761
3,948
3,233
-		 8,168
14,846
39,956

18. Comparative Year Statement of Financial Activities

Notes Unrestricted Funds
2022 (£)		 Designated
Funds 2022
(£)		 Restricted
Funds 2022
(£)		 Endowment
Fund 2022
(£)		 Total 9
moths to 31
March 2022
(£)
Statement of Financial Activities
Income and Endowment from:
Donations and legacies 2 16,606 - 1,250 - 17,856
Charitable Activities 3 11,056 - - - 11,056
Investment income 4 31,779 - 128 - 31,907
Total 59,441 - 1,378 - 60,819
Expenditure on:
RaisingFunds: 5 (5,587) - (27) (738) (6,622)
Charitable Activities: 6 (107,294) - (3,492) - (110,786)
Total (113,151) - (3,519) (738) (117,408)
Net gains/(losses) on investments 28,356 - 128 3,573 32,057
Net income/(expenditure) (25,354) - (2,013) 2,835 (24,532)
Net movement in funds (25.354) - (2,013) 2,835 (24,532)
Reconciliation of Funds
Brought forward 1,125,786 1,326,000 41,969 148,041 2,641,796
Carried forward 1,100,432 1,326,000 39,956 150,876 2,617,264

19. Funds as an Agent

The British Institute for the Study of Iraq received £9,884 as an agent. These funds were paid out during the year and so the Institute held no agency funds at the year end. The agency transactions are not included in the financial statements.

33

34[The British Institute For The Study Of Iraq][(Gertrude Bell Memorial)]

British Institute for the Study of Iraq (Gertrude Bell Memorial)

Notes to the Accounts (continued)

Unrestricte
d Funds
2023		 Endowment
Fund
2023		 Designated
Fund
2023		 Visiting
Scholars
Fund
2023		 Mallowan
Fund
2023		 Bonham
Carter
Lecture
Fund		 British
Academy
Fund
2023		 Cultural
Protection
Fund
2023		 Nimrud
Digit-
isation
2023		 Basrah
Museum
Fund
2023		 Total
Funds
2023
(£) (£) (£) (£) (£) 2023
(£)		 (£) (£) (£) (£) (£)
20. Analysis of Total Funds
Tangible Assets 3,134 - - - - - - - - - 3,134
Investments 1,002,746 126,355 - - 2,169 2,379 - - - - 1,133,649
Heritage Assets - - 1,326,000 - - - - - - - 1,326,000
Stock 13,714 - - - - - - - - - 13,714
Debtors 1,799 - - 7,500 - - 2,250 - - 250 11,799
Cash and deposits at bank 37,019 13,195 - (4,022) 897 1,365 25,425 1,704 5,286 14,524 95,393
Creditors including pension scheme liability (50,707) - - - - - (21,005) - - (419) (72,131)
Balance of Funds at 31 March 2023 1,007,705 139,550 1,326,000 3,478 3,066 3,744 6,670 1,704 5,286 14,355 2,511,558

THE BRITISH INSTITUTE FOR THE STUDY OF IRAQ (Gertrude Bell Memorial)

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