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

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 Period Ended

31 March 2024 2023/2024

Company Number : 06966984 (England and Wales)

Registered Charity Number : 1135395

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

Reference and Administrative Information .................................................................................... 2 Report of the Council of Management (which also includes the Directors’ Report) ............... 3 Statement of Council Responsibilities ........................................................................................... 18 Independent Examiners report to the Trustees 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

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

Reference and Administrative Information

Registered Office and Principal Address The British Academy 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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British Institute for the Study of Iraq (Gertrude Bell Memorial)

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

Mr Frank Baker CMG, OBE

Ms Clare Bebbington

Dr Gareth Brereton

Dr Tim Clayden, Hon Treasurer

Prof Paul Collins, Vice-Chair of Council

Dr John Curtis OBE, FBA, President

Dr Erica C.D. Hunter

Mr Daniel Lowe

Mrs Joan Porter MacIver

Dr Renad Mansour

Dr Eva Miller

Dr Mary Shepperson

Dr Rosalind Wade Haddon, Chair of Council

The Council presents this report together with the financial statements of BISI for the period of twelve months ended 31 March 2024. 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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British Institute for the Study of Iraq (Gertrude Bell Memorial)

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 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 now 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. These meetings are normally held in person, but due to government restrictions related to the COVID pandemic the 2021 meeting was held electronically. BISI resumed in-person Annual General Meetings in February 2022, which was held 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

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, Friends of Basrah Museum, 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 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.

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 one Honorary Vice-President: 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.

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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:

Ali Khadr, BISI Executive Officer (full-time) who ensures the smooth-running of BISI’s office, under the supervision of BISI’s Chair and Vice-Chair of Council: Paul Collins and Rosalind Wade Haddon. Ali had previously been development co-ordinator and he continues to spend 20% of his time in development activities.
Karon Cook, BISI’s Financial Controller (part-time, 20-30%, self-employed), who oversees BISI’s financial activities, under the supervision of BISI’s Hon Treasurer.
Anne-Marie Misconi –BISI Visiting Scholars’ Programme Co-ordinator (Self-employed up to 20%) – appointed in December 2022.

Personnel Costs

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). The Executive Officer’s salary is currently equivalent of UCL Grade 6 spine point 27.

BISI’s self-employed personnel – its Financial Controller and Visiting Scholar Programme Coordinator – 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 also provided BISI with funding to support some of the Institutes most important activities including the funding of research and other grants. BISI along with the other eight British Academy funded institutes, are 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.

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

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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 2023/2024.

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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British Institute for the Study of Iraq (Gertrude Bell Memorial) CHAIR’S INTRODUCTION TO THE ANNUAL REPORT

Time is whizzing by, and I cannot believe that by the time this Annual Report is circulated I will have been in office for almost a year. It has taken me some time to get to grips with all that the role entails and to appreciate how much our three colleagues – Executive Officer Ali Khadr, Financial Controller Karon Cook and BISI’s Visiting Scholar Programme Coordinator Anne-Marie Misconi – do behind the scenes to keep everything in order. They certainly need additional help, and we are in the process of identifying exactly where and what is needed to lighten their load. This will of course mean that we will have to use some of our investment resources to finance this. The British Academy (BA) continues to finance our core work and are in the process of streamlining their systems – this involves all the BIRIs, and we are extremely grateful to Professor Corisande Fenwick of UCL who has been representing the smaller institutes (BILNAS, BIPS and BISI) at some of these meetings. With a new government the BA’s funding may well, of course, see some changes.

We have had a busy year with five visiting Iraqi scholars being awarded Nahrein Network funding: Dr Hamed Hyan Samir (hosted at Uni of Loughborough) – project on ‘Reviving the Cultural Heritage of Basrah’; Dr Abdulkareem Yaseen Ahmed (hosted by Uni of Leicester) – project titled ‘Rising from the Rubble: Toward Safeguarding Christian Cultural Heritage in Mosul'; Dr Salah Fulayfel Ayyed alJabri al-Hassan (hosted by UCL Dept of Archaeology) – project on ‘Displaying Difficult Heritage: Considerations in Exhibition Curation and Lessons for Iraq'; Ms Nawar Ihsan Abdulazeez (hosted by the BM) – project on ‘Marketing the Iraq Museum through the Implementation of Sustainable Development Goals’; and Mr Zaid Isam Khudair al-Kawaz (a virtual scholarship hosted by UCL and the Bartlett) – project on ‘The Heritage Infrastructure of the British Administration of Iraq (19161921): A Study of Public Works and its Legacies.’ A big thank you to their hosts and Anne-Marie Misconi for assisting them all.

The British Academy’s renovations are scheduled to be completed in the autumn and they are holding an open day in September to inspect this work. Our members will be able to experience their new state of the art lecture theatre on 13 November when Dr Jonathan Taylor, BISI Trustee and Curator of Cuneiform, Middle East Dept, British Museum will deliver the Mallowan lecture on ‘Reading the Library of Ashurbanipal.’ Hopefully the lift will be finally working again too.

Sadly, several Trustees have to step down from Council in November, namely: Dr Erica Hunter, Prof Paul Collins and Mr Frank Baker. We thank them for their invaluable contributions and time, especially Paul, who has served as Chair for seven years and has steered us through the ups and downs of the pandemic, secured funding to broaden our reach and master-minded our numerous events. We are delighted to announce that two former Trustees have agreed to return to Council: Mrs Joan Porter MacIver, who is still co-chair of the Basrah Museum project; and Dr Ellen McAdam, who is keen to extend BISI’s activities away from our London-centric ones. We have also coopted Ms Clare Bebbington, former Trustee of the Basrah Museum Friends and Mr Jon Wilks, former British Ambassador to Iraq (2017-2019).

In Iraq restoration and excavations proceed under the guidance of the State Board of Antiquities and History. The British Museum’s project at Girsu is a model of sustainability, as you will learn when the director, Dr Sebastien Rey delivers a lecture in the summer of 2025. At the moment it is funded by the Meditor Trust and we are delighted to announce that Meditor has awarded BISI a generous grant in 2024/25 to facilitate research travel for Iraqi scholars under a new scheme called ‘Fund for Iraq’. There won’t be any specific submission times for such awards – applications can be made throughout the year and details will be posted on the website. The Basrah Museum project continues and plans proceed for developing the library. In the UK we are proceeding with our monograph publications and the journal IRAQ – the latter should be fully open access by 2026, available in either an electronic format or a hard copy, with articles submitted by colleagues from the Global south funded by BISI. Members will be receiving a survey shortly to canvas for format preferences.

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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 £6,000 per grant) and a pilot project grant (usually up to £10,000). In 2023/2024 we funded the following projects:

Research Grants

Eleni Asouti (University of Liverpool): The Last Hunter-gatherers of the Eastern Fertile Crescent
Isadora Gotts (King’s College London): Producing Post-War Mosul: The Role of Material Reconstruction in Emerging Local Order
John MacGinnis (British Museum): Nimrud Archaeological Project
Sarah Edgcumbe (University of St Andrews): Between Conflict, Marginalisation, and ‘Peace’: A Comparative Analysis of Experiences of Conflict, Perceptions of Peace, and Everyday Resistance in Social Positionality among Gypsy, Roma, and Traveller Communities in Kosovo, Northern Ireland, and Iraq
Tina Greenfield (University of Cambridge): The Sebittu Project

Conference Grants

Claudia Glatz (University of Glasgow): Annual Conference of the British Association for Near Eastern Archaeology
Gustavo Pedroso (University of Oxford): 11[th] Annual Oxford Postgraduate Conference in Assyriology
Robert Gleave (University of Exeter): Law and Learning in Early Modern Karbala; from alWahid al-Bihbahani (d. 1791) to Ibrahim al-Qazwini (d. 1848)

Pilot Project Grants

Ella Egberts (University of Leicester): The Palaeolithic of the Iraqi Western Desert Survey Project

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 researchers and Dr Samantha Paul is now working further on the development of the Archives Project.

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

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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 five visiting scholars from Iraq.

Hamed Hyab Samir – Dr Hamed Hyab Samir, is the Head of Architecture at the College of Engineering, University of Basrah. Dr Hamed received a visiting scholarship at the University of Loughborough, School of Architecture, Building and Civil Engineering. As part of the Visiting Scholarship, Dr Hamed planned to research and explore how the legacy of Basrah's past can be transmitted to future generations to ensure cultural consistency in the development of the country. The aim of Dr Hamed's research was to digitally document the tangible and intangible heritage of Basrah and to set a plan to create a digital library to revive the collective memory of local residents and to raise their awareness regarding the value of the local heritage.
Abdulkareem Yaseen Ahmed – Abdulkareem Yaseen Ahmed is a lecturer at Diyala University and received a visiting scholarship at University of Leicester with Dr Selena Wisnom, Lecturer in the Heritage of the Middle East. Dr Abdulkareem's project aimed to address and document the intangible cultural heritage of Mosul's Christian community, including oral traditions, performing arts traditional craftsmanship and social practices.
Salah Fulayfel Ayyedi – Dr Salah Fulayfel Ayyedi, Professor of Philosophy at University of Baghdad and UNESCO Chair for the Prevention of Genocide Studies in the Islamic World at Baghdad University. Dr Hamed received a visiting scholarship at University College London. As part of the Visiting Scholarship, Dr Salah explored how dark heritage is presented in cultural sites.
Nawar Ihsan Abdulazeez - Nawar Ihsan Abdulazeez serves as an Antiquities Restorer at The Iraq Museum while also holding a visiting scholarship at The British Museum, with Prof Paul Collins as her Research Supervisor. In her capacity as a visiting scholar, Nawar studied museum marketing methodologies in the UK and craft practical tools for their adaptation in Iraq. Her goal was to enhance visitor numbers and foster greater engagement with the exhibits at the Iraq Museum.
Ziad Isam Al-Kawaz - Zaid Isam Al-Kawaz is an independent consultant with a Master’s of Science in Architectural Conservation. He is conducting research that revolves around studying the legacy of public works left by the British occupation administration within the borders of the Baghdad Vilayet (central Iraq today) since the British forces entered the state borders in 1916 until the establishment of national rule and the coronation of King Faisal as King of Iraq in 1921. Zaid aims to produce a historical and architectural analysis of this legacy, as well as attempt to trace its fate, based on a thorough review of available archives and published works, as well as fieldwork and observation.

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The Nahrein Network has renewed its committment 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.

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 2023/2024, we offered support to one grantee to attend:

ASOR 2023

Events

In 2023/2024 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:

[Lecture] Professor Hugh Kennedy – The Globalisation of Baghdad
[Lecture] Professor Joseph Sassoon – The Global Merchants: The Enterprise and Extravagance of the Sassoon Dynasty
[Lecture] Dr John Curtis – William Kennett Loftus: a 19[th] Century Archaeologist in Mesopotamia
[Lecture] Dr Eva Miller – Eden in America: Exhibiting, Performing, and Imagining Iraq between Two Nations
[Webinar] Leon McCarron – Wounded Tigris: A River Journey through the Cradle of Civilisation
[ Webinar] Alison Shan Price MBE – The Accounts of Activists and Arabists Gertrude Bell, Violet Dickson and Freya Stark: Rewriting History
[Seminar] Dr Ali Naji Attiyah – The Future and Sustainability of Najaf’s Cultural Heritage – organised in collaboration with the Nahrein Network
[Seminar] Dr Salah al Jabari – Genocide Studies in Iraq and the works of the UNESCO Chair of Genocide Prevention Studies in the Islamic World – organised in collaboration with the Nahrein Network

BISI lectures enable the public to hear experts talking about far-reaching 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.

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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 (The British School’s second Director) and Jeffrey Orchard (Deputy Director). 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.

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:

William Kennett Loftus: a 19[th] Century Archaeologist in Mesopotamia – Letters Transcribed and Introduced by John Curtis

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. Print copies can be ordered at www. https://www.pen-and-sword.co.uk

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.

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IRAQ 86 (2024), Co-Editor in Chief Dr Augusta McMahon (University of Chicago) and Co-Editor in Chief Dr Mark Weeden (University College London), in progress.
IRAQ 85 (2023), Co-Editor in Chief Dr Augusta McMahon (University of Chicago) and Co-Editor in Chief Dr Mark Weeden (University College London), published in February 2024.

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).

FUNDRAISING AND DEVELOPMENT

The past twelve-month period covered by this report showcases a continued 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 has centred 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.

We were able to hold a special lecture by Prof. Joseph Sassoon titled ‘The Global Merchants: The Enterprise and Extravagance of the Sassoon Dynasty’, through the generous support of Dangoor Education. The lecture presented 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 BISI has received from Dangoor Education in the past.

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.

Mr. Frank Baker CMG OBE chairs our Fundraising Committee. His substantial area expertise greatly enriches the committee's discussions, and his guidance provided to our Council has been greatly valued. It's worth noting that BISI operates without any paid development staff, ensuring that every contribution we receive directly fuels our Institute's activities.

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.

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Furthermore, we would like to acknowledge the valuable contributions and involvement of Ms Jane Weeks, Dr Ellen McAdam, Dr Robert Killick, Dr Nigel Wilson, Ms Liane Butcher, Ms Sarah Cain, and Mr Hugo Clarke across various BISI Committees.

We would also like to extend our sincere gratitude to the Editorial Board of the journal IRAQ: Prof Augusta McMahon, Dr Mark Weeden, Dr Claudia Glatz, Prof Eleanor Robson, Dr Mark Altaweel, and Dr Dan Lawrence. Their dedication and expertise have been instrumental in maintaining the journal’s high standards and scholarly excellence.

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 2024/2025 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.

Visiting Iraqi Scholarship Programme

In December 2022, Ms Anne-Marie Misconi, was appointed the role of the Visiting Iraqi Scholarship Co-ordinator and has continued to support Visiting Scholars in 2023/24. Over the coming year we look forward to welcoming the following scholars to the UK, as Nahrein – BISI Scholars:

Alaa Alkaabi – Awarded a scholarship to research The Technical Changes in Libraries – A Study of Iraq’s National Library and Archives . To be hosted by Prof Mark Jackson at the University of Newcastle and Ms Valentina Flex at the Robinson Library, Gertrude Bell Archive.
Ammar Saleh Merza – Awarded a scholarship to research The Arab Heritage of Comics . To be hosted by Prof Laurence Grove and Luis Gomez at the University of Glasgow.
Hawraman Karim – Awarded a scholarship to research Memorial Sites and Genocide of Halabja. To be hosted by Dr Mehiyar Kathem at University College London.

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.

Outreach

Over the coming year, BISI will be restructuring the University and Museum Engagement Grant to widen the submission eligibility for the grant. The new Outreach Grant of up to £1,000 will be offered to support public or academic engagement events that focus on the lands and peoples of Iraq.

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 2024. We are working on scheduling more lectures for 2024 and 2025, covering Iraq, ancient and modern, which will be held both online and at the British Academy:

Docusign Envelope ID: 0F0B9AA8-1A20-43A5-9A5D-C65DE08D9DA5

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

Dr Mark Weeden on How to say “no” in Hieroglyphic Luwian and other Decipherments of David Hawkins [Memorial Lecture] – April 2024
Maysoon Al Damluji on The De-Baathification of Art in Baghdad [Webinar] – April 2024
Professors Eleanor Robson and Wayne Horowitz on A Celebration of Iraqi Assyriologist Prof Farouk Nasir Al Rawi [Lecture] – May 2024
Dr Jon Taylor on Reading the Library of Ashurbanipal [Lecture] – November 2024

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 2024/2025:

Ur Conference Papers edited by Professors Nicholas Postgate and Paul Collins
Tablets from Sippar, Tell Haddad and Elsewhere – Selected Studies by Farouk Nasir Al-Rawi edited by Professors Andrew George and Eleanor Robson

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. The BISI Executive Team has been working closely with the Meditor Trust to discuss priorities for BISI activities and research. A major long-term transformational donation from Meditor Trust to create a new BISI ‘Fund for Iraq’ has been received in the 2024/2025 financial year. This donation will enable the BISI to support the advancement of work in Iraq and the UK on Iraqi cultural heritage by funding one of our core strategic goals, an annual BISI Visiting Scholarship, as well as targeted support for training and equipment for Iraqi universities, museums, and other heritage entities, academic conferences on Iraqi heritage matters, attendance for Iraqi scholars at international conferences and other activities recognised by the BISI as meriting support.

Working with the Iraqi colleagues within the State Board of Antiquities and Heritage and the Museum, will be important for our outreach efforts in Iraq. In Basra, BISI will be coordinating work at the museum with other stakeholders and charitable groups. BISI Trustee Joan Porter MacIver visited the Basrah Museum and The Basra Director of Antiquities and Heritage in March 2024. This was an opportunity to identify a range of activities to support the staff, the library, and outreach efforts in the museum in the future, utilising funds raised to support the museum and its staff. We will be seeking additional funds to support training of the staff at museum library.

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

FINANCIAL REVIEW

The accounts for the period ended 31 March 2024 are attached to this report and a review of BISI’s transactions and financial position is set out below.

BISI had net incoming resources of £6,284 after net gains on investment assets of £7,827. This was made up of a surplus for the year for unrestricted funds of £8,954 to support BISI’s on-going work and a deficit to the restricted funds for the year of £2,653. The investment loss on the endowment fund after investment manager fees was £17.

Investment assets within the Investec portfolio were marked to market at the period-end and resulting in net realised and unrealised gains of £7,827 for the year. (Unrealised gains for the year were £11,663 and realised losses were £3,836.)

Unrestricted Funds

BISI had five principal sources of unrestricted income. They were from donations and legacies (£4,292), membership subscriptions (£4,946), investment income from the investment assets (£46,337) and publication sales (£10,453) and consultancy fees (£1,000).

Restricted Funds

BISI has a number of projects supported by restricted funds. The largest funds are discussed here and further details on the smaller funds are provided in note 16.

Continued activity in the Visiting Iraqi Scholars Programme resulted in net incoming resources of £814.

The British Academy Fund supported grant making activities and received income of £62,657. Those funds were expended in the year.

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 fell in value by 3% over the year after a planned cash extraction of £35,000 (3%) .

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

Current Investment Policy Statement

The statement is produced in accordance with section 15 of the Trustee Act.
The Trustees have agreed to delegate the investment of specified funds to Investec.
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.
The Trustees wish to adopt a low-medium risk strategy. This should be achieved through a diversified portfolio of investments.
The investment manager should have regard to the suitability of investments pertaining to a charity and monitored by the Charity Commission.

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

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

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:

that staff can continue working, primarily to secure new funding
that charitable activities can continue within that period.

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

The following served as members of the BISI Council for all or part of the period ended 31 March 2024.

Dr Noorah Al Gailani Mr Frank Baker CMG, OBE Ms Clare Bebbington Appointed 23[rd] November 2023 Dr Gareth Brereton Dr Tim Clayden, Hon Treasurer Dr Paul Collins, Chair of Council

Dr John Curtis OBE, FBA, President

Dr Erica C.D. Hunter Mr Daniel Lowe Mrs Joan Porter MacIver Appointed 23[rd] November 2023 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

.................................... [roan69B47069DF6E4EF... Wade Haddon Dr Rosalind Wade Haddon – Chair of Council Date: 16/12/2024

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

Statement of Council 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:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

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:

so far as that Trustee is aware, there is no relevant available information of which the company’s independent examiner was unaware, and;
that Trustee has taken all steps that the Trustee ought to have taken as a Trustee to make himself/herself aware of any relevant independent examination information and to establish that company’s independent examiner was aware of that information.

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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 period ended 31 March 2024 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:

accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
• the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

eiC687779AC3BA421... by: Elizabeth Wicks ACA 17/12/2024

WMT Chartered Accountants

4 Beaconsfield Road, St Albans, Hertfordshire, AL1 3RD

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

Statement of Financial Activities

For the year ended 31 March 2024

Notes Unrestricted Funds 2024 (£) Designated Funds 2024 (£) Restricted Funds 2024 (£) Endowment Fund 2024 (£) Total Year to 31 March 2024 (£) Total Year to 31 March 2023 (£)	Notes Unrestricted Funds 2024 (£) Designated Funds 2024 (£) Restricted Funds 2024 (£) Endowment Fund 2024 (£) Total Year to 31 March 2024 (£) Total Year to 31 March 2023 (£)
Statement of Financial Activities
	Income and Endowment from:
	Donations and legacies 2 4,292 - - - 4,292 11,194
	Charitable Activities 3 16,399 - 97,157 - 113,556 123,114
	Investment income 4 46,337 - 186 - 46,523 40,285
	Total Income and Endowment 67,028 - 97,343 - 164,371 174,593 Expenditure on:
	RaisingFunds: 5 (7,063) - (32) (890) (7,985) (8,404)
	Charitable Activities: 6 (57,934) - (99,995) - (157,929) (178,678)
	Total Expenditure (64,997) - (100,027) (890) (165,914) (187,082)
	Net (losses)/ gains on investments 9 6,923 - 31 873 7,827 (93,217)
	Net(expenditure) 8,954 - (2,653) (17) 6,284 (105,706)

	Net movement in funds 8,954 - (2,653) (17) 6,284 (105,706)
	Reconciliation of Funds
	Brought forward 1,007,705 1,326,000 38,303 139,550 2,511,558 2,617,264
	Carried forward 1,016,659 1,326,000 35,650 139,533 2,517,842 2,511,558

Docusign Envelope ID: 0F0B9AA8-1A20-43A5-9A5D-C65DE08D9DA5

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

Balance Sheet At 31[st] March 2024

At 31[st] March 2024	March 2024
			31 March	31 March
		Notes	Notes 2024	2023
			(£)	(£)

Fixed Assets:
	Tangible assets	7	2,007	3,134
	Heritage assets	8	1,326,000	1,326,000
	Investments	9	1,098,490	1,133,649
Total Fixed Assets:			2,426,497	2,462,783
Current assets:
	Stocks		13,695	13,714
	Debtors	10	16,451	11,799
	Cash at bank and in hand	11	96,260	95,393
Total Current assets:			126,406	120,906
Liabilities
	Creditors: Amounts fallingdue within oneyear	12	35,061	34,245
Total Liabilities			35,061	34,245
	Net Current Assets		91,345	86,661
	Net current asset excluding provision for liabilities		91,345	86,661
	Defined benefit pension scheme liability	14	-	37,886
	Total Net Assets		2,517,842	2,511,558
The Funds of the charity:
	Restricted Funds	16	35,650	38,303
	Endowment Fund	20	139,533	139,550
	Unrestricted Funds	20	1,016,659	1,007,705
	Designated Funds(Nimrud Ivories)	20	1,326,000	1,326,000
	Total Funds of the charity		2,517,842	2,511,558

For the year ending 31st March 2024 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:

Dr Rosalind Wade Haddon

[roan Wade Haddon

Chair of Council 69B47069DF6E4EF... Dated 16/12/2024

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

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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 2024

	Year to 31 March 2024 Year to 31 March 2023 Notes £ £ Income Income 2,3 117,848 134,308 (Losses)/Gains on investments 6,954 (93,217) Interest and investment income 4 46,523 40,285 Gross income in the reporting period 171,325 81,376 Expenditure Expenditure (163,897) (186,514) Depreciation (1,127) (568) Total expenditure in the reporting period (165,024) (187,082) Taxpayable - -


Net (expenditure) for the reporting period 6,301 (105,706)

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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.

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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.

Commitments which exist at the year end for goods or services that will be supplied after the year end are not accrued for but are disclosed as commitments in the notes.

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.

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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 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 and the deficit recovery contributions payable under the scheme’s Recovery Plan.

Where a scheme valuation determines that the scheme is in deficit on a technical provisions basis (as was the case following the 2020 valuation), the trustee of the scheme must agree a Recovery Plan that determines how each employer within the scheme will fund an overall deficit. The institution recognises a liability for the contributions payable that arise from such an agreement (to the extent that they relate to a deficit) with related expenses being recognised through the income statement.

At 31 July 2023, the institution’s balance sheet included a liability of £37,886 for future contributions payable under the deficit recovery agreement which was concluded on 30 September 2021, following the 2020 valuation when the scheme was in deficit. No deficit recovery plan was required from the 2023 valuation, because the scheme was in surplus. Changes to contribution rates were implemented from 1 January 2024 and from that date the institution was no longer required to make deficit recovery contributions. The remaining liability of £37,886 was released to the profit and loss account.

Unrestricted (£) Restricted (£) Endowment (£) Total Year to 31 March 2024 (£) Total Year to 31 March 2023 (£)	Unrestricted (£) Restricted (£) Endowment (£) Total Year to 31 March 2024 (£) Total Year to 31 March 2023 (£)
2. Income from Donations and Legacies
	Donations 4,165 - - 4,165 1,445
	Gift aid recoverable 127 - - 127 29
	Provision of office facilities and rent in kind - - - - 9,720
Total Income	from Donations and Legacies 4,292 - - 4,292 11,194 Unrestricted (£) Restricted (£) Endowment (£) Total Year to 31 March 2024 (£) Total year to 31 March 2023 (£)
3. Income from Charitable Activities
	Grants - 97,157 - 97,157 105,955
	ConsultancyFee 1,000 - - 1,000 2,000
	Membershipsubscriptions 4,946 - - 4,946 4,294
	Publication sales and copyright fees 10,453 - - 10,453 10,865
Total Income	from Charitable Activities 16,399 97,157 - 113,556 123,114

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

	Unrestricted (£)	Unrestricted (£)	Restricted (£)	Restricted (£)	Endowment (£) Total Year to 31 March 2024 (£) Total year to 31 March 2023 (£)	Endowment (£) Total Year to 31 March 2024 (£) Total year to 31 March 2023 (£)	Endowment (£) Total Year to 31 March 2024 (£) Total year to 31 March 2023 (£)
4. Income from Investments
Investment income		46,159		186		-	46,345 40,182
Bank interest		178		-		-	178 103
Total Income from Investments		46,337		186		-	46,523 40,285
	Unrestricted (£)	Restricted (£)		Endowment (£)		Total Year to 31 March 2024 (£)	Total year to 31 March 2023 (£)
5. Expenditure on Raising Funds
Investment manager fees	7,063		32		890	7,985	8,404
Total Expenditure on Raising Funds	7,063		32		890	7,985	8,404
	Unrestricted (£)	Restricted (£)		Endowment (£)		Total Year to 31 March 2024 (£)	Total year to 31 March 2023 (£)
6. Expenditure on charitable activities

Grantspayable(note 6a)	-	67,713			-	67,713	43,083
Other charitable activitycosts(note 6b)	57,934	27,934			-	85,868	111,548
Cultural Protection Fund Project	-		4,348		-	4,348	24,047
Total Expenditure on charitable activities	57,934	99,995			-	157,929	178,678
						Total	Total year
	Unrestricted	Restricted		Endowment		Year to	to 31
	(£)		(£)		(£)	31 March	March
						2024 (£)	2023 (£)
6a. Grants Payable
Grants Payable
Research,Travel and Conference Grants	-		32,001		-	32,001	21,340
UniversityEngagement Grants	-		1,168		-	1,168	1,000
Pilot Project Grants	-		10,000		-	10,000	13,460
Grants not taken up	-		(12)		-	(12)	(4,000)
Returned Grants	-		-		-	-	(7,985)
VisitingScholars Grants	-		24,556		-	24,556	19,268
Total Grants Payable	-		67,713		-	67,713	43,083

Docusign Envelope ID: 0F0B9AA8-1A20-43A5-9A5D-C65DE08D9DA5

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

Notes to the Accounts (continued)	Notes to the Accounts (continued)	Notes to the Accounts (continued)	Notes to the Accounts (continued)	Notes to the Accounts (continued)
Unrestricted (£) Restricted (£) Endowment (£) Total Year to 31 March 2024 (£) Total year to 31 March 2023 (£)
Grants Payable - BISI madegrants to 8 individuals in theperiod(13 individuals in				2023)
	Research, Travel and Conference grants Claudia Glatz : Annual Conference of the British Association for Near Eastern Archaeology - 6,000 Gustavo Pedroso : 11th Annual Oxford Postgraduate Conference in Assyriology - 1,700 Robert Gleave : Law and Learning in Early Modern Karbala; from al-Wahid al-Bihbahani (d.1791) to Ibrahim al-Qazwini (d.1848) - 3,600 Eleni Asouti : The Last Hunter-gatherers of the Eastern Fertile Crescent - 2,000 Isadora Gotts : Producing Post-War Mosul: The Role of Material Reconstruction in Emerging Local Order - 5,442 John MacGinnis : Nimrud Archaeological Project - 5,000 Sarah Edgcumbe : Between Conflict, Marginalisation, and 'Peace' - 4,839 Tina Greenfield : The Sebittu Project - 3,420 Neil Fleming :The Church of England and Iraq's Assyrian Minority, c. 1920-1939 - - Andrew Petersen : Dokan Ottoman Fort: Architectural Survey and Excavation Project - - Michelle de Gruchy : Reconstructing Ancient Traffic Patterns in Iraq from Archaeological Evidence - - Sana Murrani : Ruptured Domesticity: A Visual Narrative of Domestic Responses to War in Iraq - - Monica Palmero Fernandez : Investigating Practices of Academic Research in the Fields of Archaeology and Heritage in Iraq since 2003 - - Nicholas Postgate : Continuation of Fieldwork at Abu Salabik - - Diana Stein : MITTANI: An Enigmatic Empire - - Joseph Barber : The Ninth Annual Postgraduate Conference in Assyriology - - Eva Miller : Whose Heritage? Living with the Legacies of Imperialism, Colonialism, and Nationalism in the Middle East - -			- 6000 - - 1,700 - - 3,600 - - 2,000 - - 5,442 - - 5,000 - - 4,839 - - 3,420 - - - 490 - - 4,000 - - 4,000 - - 4,000 - - 2,000 - - 4,000 - - 700 - - 1,200 - - 950
	Total Research, Travel and Conference Grants - 32,001			- 32,001 21,430
	University and Museum Engagement Grants (previously Outreach Grants) Talah Anderson : Remaking the Past, 44th Annual Conference of the 19th C Studies Association - 468 - Lara Bampfield : ASOR 2023 - 700 - Lara Bampfield - - - Benjamin Caspi - - -			468 -
				700 -
		-	- -	- 500
		-	- -	- 500
	Total University and Museum Engagement grants (previously Outreach Grants)	-	1,168 -	1,168 1,000
	Pilot Project grants Ella Egberts : The Palaeolithic of the Iraqi Western Desert Survey Project 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	- - -	10,000 - - - - -	10,000 - - 5,600 - 7,860
	Total Pilot Project Grants	-	10,000 -	10,000 13,460

Docusign Envelope ID: 0F0B9AA8-1A20-43A5-9A5D-C65DE08D9DA5

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

Notes to the Accounts (continued)

Grants payable – Visiting Scholars

BISI funded 6 visiting scholars during 2023/24 (during 2022/23 BISI funded 4 scholars).

		Unrestricted (£)	Restricted (£) Endowment (£) Total Year to 31 March 2024 (£) Total year to 31 March 2023 (£)
Visiting Scholar grants
	Dr Hamed Hyab Samir Dr Abdulkareem Yaseen Ahmed Dr Salah Fulayfel Ayyedi Ms Nawar Ihsan Abdulazeez	-	4,111 - 4,111 -
		-	6,316 - 6,316 -
		-	7,201 - 7,201 -
		-	4,868 - 4,868 -
	Mabast A. Muhammad Amin	-	475 - 475 3,393
	Shazad Jaseem	-	1,585 - 1,585 6,743
	Dilshad Oumar Abdul Aziz Dr Dhiaa Kareem Ali Janaby	-	- - - 3,976
		-	- - - 5,156
	Total Visiting Scholar Grants	-	24,556 - 24,556 19,268
		Unrestricted (£)	Restricted (£) Endowment (£) Total Year to 31 March 2024 (£) Total year to 31 March 2023 (£)
b. Other Charitable Activity Costs
Programme related costs
VisitingScholars expenditure		2,561	6,129 - 8,690 8,075
UR Conference		1,750	- - 1,750 2,531
Basrah Conference & Museum Costs		-	2,130 - 2,130 419
London activities and lecture expenditure		2,858	5,809 - 8,667 5,045
BISI Archaeological Archives		-	5,924 - 5,924 940
PR,newsletter and website expenses		708	2,573 - 3,281 14,892
Total Programme related costs Other direct costs		7,877	22,565 - 30,442 31,902
Printingannual report		413	- - 413 765
Publication andjournal costs		11,976	- - 11,976 2,182
Total Other direct costs Support costs allocated to activities London office salaries and contractor costs Pension costs(including pension provision release/charge) Office expenditure Rent and service charges Bank and credit card charges Storage Examination fee Payroll costs Interest Payable Council meetingand travel expenses Depreciation Total Support costs allocated to activities		12,389 49,739 (30,881) 1,102 8,770 1,117 - 5,244 775 474 201 1,127 37,668	- - 12,389 2,947
			36 - 49,775 44,794
			- - (30,881) 7,587
			2,284 - 3,386 4,121
			- - 8,770 9,720
			- - 1,117 1,157
			3,000 - 3,000 3,750
			- - 5,244 4,249
			- - 775 572
			- - 474 -
			49 - 250 181
			- - 1,127 568
			5,369 - 43,037 76,699
Total other charitable activity costs		57,934	27,934 - 85,868 111,548

Docusign Envelope ID: 0F0B9AA8-1A20-43A5-9A5D-C65DE08D9DA5

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

7. Fixed Assets

7. Fixed Assets	7. Fixed Assets
Cost brought forward 1st April 2023 Additions carried forward at 31 March 2024 Depreciation brought forward 1st April 2023 Charge for the year carried forward at 31 March 2024 NBV at 31 March 2023 NBV at 31 March 2024		Office Equipment £ 4,584 - 4,584 1,450 1,127 2,577 3,134 2,007 Designated Funds (£)
8. Heritage Assets- movements in the period
	brought forward 1 April 2023	1,326,000
	Movements in the year	-
	carried forward at 31 March 2024	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.

Docusign Envelope ID: 0F0B9AA8-1A20-43A5-9A5D-C65DE08D9DA5

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 2024 31 March 2023 Cost Market Value Cost Market Value £ £ £ £ 115,326 122,436 124,066 126,355
	115,326 122,436 124,066 126,355
	2,171 2,305 2,336 2,379 1,980 2,102 2,130 2,169
	4,151 4,407 4,466 4,548
	915,224 971,647 984,584 1,002,746
	915,224 971,647 984,584 1,002,746
	31 March 2024 31 March 2023 Cost Market Value Cost Market Value £ £ £ £ 115,326 122,436 124,066 126,355 4,151 4,407 4,466 4,548 915,224 971,647 984,584 1,002,746
	1,034,701 1,098,490 1,113,116 1,133,649
		2024 2023 (£) (£) 1,111,777 1,120,547 333,325 328,937 (372,509) (244,491) 7,827 (93,216)
		1,080,420 1,111,777
		18,070 21,872
		1,098,490 1,133,649

Details of material Investments (>5%) held at the end of the financial year are as follows:

	2024	2023
	(£)	(£)
UK(Govt of) 2% Snr 07/09/2025	108,483	18,164
UK(Govt of) 3.25% Bds 31/01/33	57,514	-
UK(Govt of) 4.75% Snr 07/12/38	60,197	-
Pimco Fds Gbl Invs Gbl Inv Grd Cred H Instl	-	59,010

	31 March 2024	31 March 2023
	(£)	(£)
10. Debtors
Other Debtors	150	7,500
Prepayments	5,382	3,070
Publication Income due	10,657	1,065
Tax Recoverable	262	164
Total Debtors	16,451	11,799

Docusign Envelope ID: 0F0B9AA8-1A20-43A5-9A5D-C65DE08D9DA5

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

	31 March 2024	31 March 2023
	(£)	(£)
11. Cash at bank and in hand
Current Accounts and Cash	93,668	92,801
Deposit Accounts	2,592	2,592
Total Cash	96,260	95,393
	31 March 2024	31 March 2023
	(£)	(£)
12. Creditors– due in less than one year
Trade Creditors	6,723	9,703
Grants Payable	15,478	19,589
Accruals	11,185	4,200
Taxes and social security	731	-
VAT Payable	944	753
Total Creditors due in less than one year	35,061	34,245
	Year to	Year to
	31 March 2024	31 March 2023
	(£)	(£)
13. Employees
Salaries	37,784	33,450
Pension Contributions	4,646	7,587
Total Employees	42,430	41,037

The Institute employed 1 full-time employee during the year (2023:1) One employee received remuneration between £40,001- £50,000, (2023 :1 between £40,000 and £50,000) Key management personnel compensation for 2024 was £42,430 (2023 - £41,037)

14. Pension Costs and Provisions

The total cost (released)/charged to the profit and loss account is £(30,881) (prior year: £7,587). Deficit recovery contributions due within one year for the institution are £nil (prior year: £1,126).

	2024	2023
	(£)	(£)
Provision for Liabilities
Pension Deficit Provision b/f	37,886	37,524
Pension Deficit charge for theyear	(37,886)	362
Pension deficit provision c/f	-	37,886

A deficit recovery plan was put in place as part of the 2020 valuation, which required payment of 6.2% of salaries over the period 1 April 2022 until 31 March 2024, at which point the rate would increase to 6.3%. As set out in Note --, no deficit recovery plan was required under the 2023 valuation because the scheme was in surplus on a technical provisions basis. The institution was no longer required to make deficit recovery contributions from 1 January 2024 and accordingly released the outstanding provision to the profit and loss account.

The latest available complete actuarial valuation of the Retirement Income Builder is as at 31 March 2023 (the valuation date), which was carried out using the projected unit method.

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

The 2023 valuation was the seventh 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 (the statutory funding objective). At the valuation date, the value of the assets of the scheme was £73.1 billion and the value of the scheme’s technical provisions was £65.7 billion indicating a surplus of £7.4 billion and a funding ratio of 111%.

The key financial assumptions used in the 2023 valuation are described below

Docusign Envelope ID: 0F0B9AA8-1A20-43A5-9A5D-C65DE08D9DA5

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

Notes to the Accounts (continued)

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: 1.0% p.a. to 2030, reducing to 0.1% p.a. from 2030
Pension increases (subject to a floor of 0%)	Benefits with no cap: CPI assumption plus 3bps Benefits subject to a “soft cap” of 5% (providing inflationary increases up to 5%, and half of any excess inflation over 5% up to a maximum of 10%): CPI assumption minus 3bps
Discount rate (forward rates)	Fixed interest gilt yield curve plus: Pre-retirement: 2.5% p.a. Post retirement: 0.9% 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 2023 actuarial valuation. The mortality assumptions used in these figures are as follows:

experience carried out as part of the	2023 actuarial valuation. The mortality assumptions used in these figures are as follows:
	2023 valuation
Mortality base table	101% of S2PMA “light” for males and 95% of S3PFA for females
Future improvements to mortality	CMI 2021 with a smoothing parameter of 7.5, an initial addition of 0.4% p.a., 10% w2020 and w2021 parameters, and a long-term improvement rate of 1.8% pa for males and 1.6% pa for females

The current Life expectancies at age 65 are:

	2024	2023
Males currently aged 65 (years)	23.7	24.0
Females currently aged 65 (years)	25.6	25.6
Males currently aged 45 (years)	25.4	26.0
Females currently aged 45 (years)	27.2	27.4

15. Related Party Transactions

During the year, 3 Trustees were reimbursed for travel expenses of £246 (2023: 1 Trustees £123). No trustees received remuneration in the year or in the prior period.

In 2023 one trustee was awarded a grant of £950. The trustee played no part in the grant awarding process. During the prior 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.

In the prior year a gift costing £58 was given to a trustee on their resignation from the Council.

Docusign Envelope ID: 0F0B9AA8-1A20-43A5-9A5D-C65DE08D9DA5

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

Notes to the Accounts (continued)	Notes to the Accounts (continued)
Visiting Scholar Fund 2024 (£) Bonham Carter Lecture Fund 2024 (£) Mallowan Fund 2024 (£) British Academy Fund 2024 (£) Cultural Protection Fund 2024 (£) Nimrud Digitisation Fund 2024 (£) Basrah Museum Fund 2024 (£) Total Restricte d Funds Year to 31 March 2024 (£)
16. Restricted Income Funds
	Grants 31,500 - - 62,657 3,000 - - 97,157
	Investment Income - 97 89 - - - - 186
	RaisingFunds - (17) (15) - - - - (32)
	Charitable activities expenditure (30,686) (75) (50) (62,657) (4,348) - (2,179) (99,995)
	Losses on revaluations and disposal of investment assets - 16 15 - - - - 31
	Net income/(expenditure) 814 21 39 - (1,348) - (2,179) (2,653)
	Transfer between restricted funds - - - - - - -
	Net movement in Funds 814 21 39 - (1,348) - (2,179) (2,653)
	Fund balance b/f 3,478 3,744 3,066 6,670 1,704 5,286 14,355 38,303
	Fund balance c/f 4,292 3,765 3,105 6,670 356 5,286 12,176 35,650

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.

The Visiting Scholar Fund is supported by the Nahrein Network 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.

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 (Mallowan Fund).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 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.

Docusign Envelope ID: 0F0B9AA8-1A20-43A5-9A5D-C65DE08D9DA5

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 Digitisation Fund 2023 (£)	Basrah Museum Fund 2023 (£)	Total Restricted Funds Year to 31 March 2023 (£)
17. Comparative Period 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

18. Comparative Year Statement of Financial Activities

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

19. Funds as an Agent

No funds were received as an agent in 23/24. In the prior year 22/23, 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.

20. Commitments at year end

The charity had commitments of £4,132 at the 31[st] March 2024 relating to Basrah Museum costs. These costs had been committed but the work had not yet been delivered and therefore the costs have not been accrued in the accounts. There were no such costs at 31[st] March 2023.

Docusign Envelope ID: 0F0B9AA8-1A20-43A5-9A5D-C65DE08D9DA5

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

	Unrestricted Funds 2024	Endowment Fund 2024	Designated Fund 2024	Visiting Scholars Fund 2024	Mallowan Fund 2024	Bonham Carter Lecture Fund	British Academy Fund 2024	Cultural Protection Fund 2024	Nimrud Digit- isation 2024	Basrah Museum Fund 2024	Total Funds 2024
	(£)	(£)	(£)	(£)	(£)	2024 (£)	(£)	(£)	(£)	(£)	(£)
21. Analysis of Total Funds
Tangible Assets	2,007	-	-	-	-	-	-	-	-	-	2,007
Investments	956,043	137,499	-	-	2,360	2,588	-	-	-	-	1,098,490
Heritage Assets	-	-	1,326,000	-	-	-	-	-	-	-	1,326,000
Stock	13,695	-	-	-	-	-	-	-	-	-	13,695
Debtors	11,351	-	-	2,600	-	-	2,250	-	-	250	16,451
Cash and deposits at bank	47,583	2,034	-	2,131	745	1,177	23,071	177	5,286	14,056	96,260
Creditors : amounts falling due within one year	(14,020)	-	-	(439)	-	-	(18,651)	179		(2,130)	(35,061)
Net asset excluding pension asset or liability	1,016,659	139,533	1,326,000	4,292	3,105	3,765	6,670	356	5,286	12,176	2,517,842
Pension scheme liability	-	-	-	-	-	-	-	-	-	-	-

Balance of Funds at 31 March 2024	1,016,659	139,533	1,326,000	4,292	3,105	3,765	6,670	356	5,286	12,176	2,517,842

2024-03-31-accounts

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

THE BRITISH INSTITUTE FOR THE STUDY OF IRAQ

10, Carlton House Terrace

The Period Ended

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

Contents

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

Reference and Administrative Information

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

Report of the Council of Management (which also includes the Directors’ Report)

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

GOVERNANCE, STRUCTURE AND MANAGEMENT

Annual General Meeting

Council

Patron, President and Honorary Vice-President

Decision-making: Council and Personnel

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

Personnel Costs

Support from the British Academy

OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS

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

British Institute for the Study of Iraq (Gertrude Bell Memorial) CHAIR’S INTRODUCTION TO THE ANNUAL REPORT

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

RESEARCH AND FIELDWORK

Academic Grants

Research Grants

Conference Grants

Pilot Project Grants

The Archaeological Archives Project

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

Visiting Iraqi Scholarships

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

OUTREACH

University and Museum Engagement Grants

Events

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

The Nimrud Digitisation Project

PUBLICATIONS

Legacy Volumes

Journal IRAQ

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

FUNDRAISING AND DEVELOPMENT

VOLUNTEERS

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

FUTURE EVENTS AND PLANS

Research and Fieldwork

Visiting Iraqi Scholarship Programme

Outreach

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

Publications

Fundraising and Development

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

FINANCIAL REVIEW

Unrestricted Funds

Restricted Funds

Investment Policy

Current Investment Policy Statement

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

Statement about Risk and Reserves Policy

A Note on BISI’s Heritage Assets: The Ivories from Nimrud (See also note 8 to the accounts)

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

BY ORDER OF THE COUNCIL

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

Statement of Council Responsibilities

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)

Responsibilities and basis of report

Independent examiner’s statement

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

Statement of Financial Activities

For the year ended 31 March 2024

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

Balance Sheet At 31[st] March 2024

[roan Wade Haddon

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

Income and Expenditure account

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