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2022-03-31-accounts

Nl S ANNUAL REPORT 2019-2020 AL VCiUME I. ISSUE Z OCTOIHE 21120 FEATURING A LE: Ne9Otiations of Femini Times of Livelihoo Vulnerabilitie in

CONTENTS

CONTENTS
TO OUR SUPPORTERS AND TRUSTEES 3
Legal and Administrative Information 4
Executive Summary 5
Mission 5
TRUSTEE REPORT 6
Creative Campus 7
Africa Data Project 8
Research and Publications 9
ADAPT Project ~~1~~0
NIAS Events ~~1~~1
FINANCIAL STATEMENT___________
12
Statement of Financial Activities__________
13
Independent Examiners Report 15
NOTES TO FINANCIAL STATEMENTS_____________
16
Accounting Policies_______________
17
Basis of Accounting______________ 17
Incoming Resources______________ 18
Resources Expended_____________ 18
Tangible Assets and Depreciation_____________ 18

2

FINDING A

PANDEMIC?

3

LEGAL & ADMINISTRATIVE INFORMATION

Status

National Institute for African Studies (NIAS) is a Charity Incorporated Organisation (CIO). It was registered as a charity on 31 April 2014.

Charity number 1156464
Registered Address Castle Hill House
12 Castle Hill Windsor
Berkshire
SL4 1PD
www.africanstudies.org.uk
Trustees Mr. Luke Kwamya
Mr. Olufemi Jolaoso
Mr. Dele Bello-Williams
Secretary Mr. Olufemi Jolaoso
Legal Advisors Spring Law
8 Broadway Place,
London SW19 3TA

4

EXECUTIVE SUMMARY

NIAS is a non- profit, non- partisan public policy think tank. We are a UK registered charity. We strive to accurately represent the voices & aspirations of the people of the United Kingdom & Africa, as well as, champion our cause that research, policy and practice ought to be coordinated to produce real benefits for the poor in society.

Objectives and activities of the Institute

The charity's objectives are to provide a platform for change makers globally, especially citizens of the United Kingdom and the African Diaspora to engage in discourse that leads to tangible change in society. We have also taken on the task of curator in spotlighting authentic data and expertise towards addressing pressing African and U.K societal challenges.

Objectives and Targets for 2020/2021 Our work is driven by our amended 2020 - 2025 strategic plan. The priorities for the current year were

to:

Dele Bello-Williams, LLB Executive Director (NIAS)

5

TRUSTEE REPORT

The trustees present their report and the financial statements for the year

ended 31 March 2021 . The trustees who served during the year and up to the date of this report are set out on page 1.

Organisational Structure

The charity is constituted by a constitution and has 3 trustees. It has a team of 5 informal board of advisers and an academic/editorial board comprising 15 individuals that advise the trustees on a range of technical and related issues that require specialist knowledge, skills and/or expertise. It then employs staff, experts and volunteers to carry out various projects undertaken by the charity.

Related Parties

The charity is involved in project partnerships with a range of organisations in the UK, Africa & Asia on projects ranging from Education & Trade Policy, Data Analysis, Governance, Creative and Digital Enterprise Strategy, Diplomacy, Research, Projects and Training/Conferencing

Governance and Internal Control

A preliminary review of the major risks to which the charity is exposed has been carried out and systems are in place to mitigate those risks. The organisation’s risk profiles are regularly reviewed by the board. External risks to the

current sources of funding are also regularly appraised. The charity has achieved a separation of trading activities from core activities of the charity as part of risk minimization and efficiency drives. The policy is aimed at forestalling overdependence on any income source for the organisation’s viability. Our reserve policy is to secure reserve funds that will enable the organisation operate at full capacity, uninterrupted for a nine month period in the event of an unforeseen financial shock. The 2020/2021 reserve targets were not achieved as a result of comparatively poor trading and fundraising outcomes, chiefly as a result of the global pandemic induced economic/social shutdowns. in the last two years. This has introduced uncertainties requiring strategic and operational adjustments that are still being actively worked out. Internal risks are to the charity and its assets are minimized by ensuring implementation of minimum financial control systems in line with the Charity Commission's Recommendations and regular training for senior officers and board.

The Public Benefits of NIAS’ work

The Charity Commission’s general guidance on public benefit has been referred to when reviewing NIAS aims and objectives and planning future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set and, ultimately, how they will benefit the public

6

RESEARCH & PUBLICATIONS

Our Research and Publication effort is centred around our flagship journal; The Saharan. The Saharan Journal (Thesaharan.com) is our in-house journal of African development, culture and media. It is currently being revamped to take into account emerging issues and trends within its sphere. The editorial board has been expanded to include scholars and academics from Africa and around the world. The journal aims to bring in unheard voices to public discourse on Africa and become a reference point for high quality scholarly articles and thought leadership. We published 20 blogs, 15 articles and many updates on important topical issues like Covid Pandemic, youth unemployment, digital careers, leadership, governance, climate change, aid for trade and more during the year.

The Saharan – The publication has been well received within UK & International professionals, including academic circles. The first edition is now been archived by the British Library. The journal attracted writers, researchers, reviewers and board from across the globe.

8

ADAPT PROJECT

The project is designed to assist individual UK citizens, Diaspora Africans and others, with career transition post Pandemic. Some of the career options being promoted via the project include; widening access to writing careers and help with getting published in prestigious journals. Other career transition options are being explored, taking in to account the extensive disruption to lives and livelihood occasioned by Covid-19 global epidemic.

9

NIAS EVENTS (PROGRAMME OF WEBINARS, ONLINE WORKSHOPS, & PRESENTATIONS)

A programme of 35 webinars, online workshops and topical discussions

were implemented during the year. Our events attendance demographics have broadened significantly because activities were primarily implemented via zoom meetings and free.

NIAS’ Cultural Programming suffered significantly this year because of the loss of incessant lockdowns and work from home orders by the UK government. We are working towards implementing tools to enable hybrid events going forward.

Our work this year has been made possible mainly as a result of the trustees personal efforts, and few core staff. The contributions of our bank of volunteers and pro bono work by corporate partners although limited this year, remains invaluable to our business model.

10

STATEMENT OF FINANCIAL ACTIVITIES

Reserves

In view of the growth and expansion of the charity, the board of trustees has proposed a reserve policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be equal to 9 months operating costs, on average, of the charity at any given time. This policy is developed in view of the potential vulnerability and exposures of the organisation in the event of actual income loss from any of the charity’s income sources.

Statement of trustees' responsibilities

The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the board, Olufemi Jolaoso Secretary

11

SUMMARISED STATEMENT OF FINANCIAL ACITIVITIES

For the year projected to 31 March 2021

NOTES UNRESTRICTED
FUNDS
£		 RESTRICTED
FUNDS
£		 2021
TOTAL
£		 2020
TOTAL
£
Incoming resources
Incoming resources from generating
funds:
Voluntary income 2 4,501 131,782 136,283 104,290
Investment income 3 1500 1500 438
Incoming resources 4 151,746 5,000 156,746 123,217
Total incoming resources 157,747 136,782 294,529 227,945
Resources expended
Charitable activities 39,837 132,740 172,577 138,857
Support costs 103,441 9,300 112,741 110,659
Total resources expended 233,016 16,500 285,318 249,516
Net incoming resources for the year 7,960 1,251 9211 (21,571)
Total funds brought forward 90,861 10,906 101,767 123,338
Total funds carried forward 98,821 12,157 110,978 101,767

The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognized gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The financial statements as presents were approved by the board July 30, 2022 On

behalf of the board.

Luke Kwamya Olufemi Jolaoso Chairman Board of Trustees Secretary

The notes form an integral part of these financial statements

12

BALANCE SHEET

Balance sheet as at 31 March 2021

DESCRIPTION NOTES TOTAL
£		 2021
£		 TOTAL
£		 2020
£
Fixed Assets
Tangible Assets 26,860 1,522
Less Accumulated depreciation (8945) (503)
Current Assets
Debtors 5 26,914 15,140
Cash at bank and in hand 33,974
60,888		 33,975
49,115
Creditors: amounts failing due within one year 6 (42,825) (34,642)
Reserves 7 75,000 75,000
Net current assets 93,063 100,748
Net assets 110,978 101,767
Funds
Restricted income funds 8 12,157 10,906
Unrestricted income funds 9 98,821 90,861
Total Funds 110,978 101,767

The financial statements as presents were approved by the board July 30, 2022

On behalf of the board

Luke Kwamya Olufemi Jolaoso Chairman Board of Trustees Secretary

The notes form an integral part of these financial statements

13

Independent examiner`s report to the trustees of National Institute for African Studies on accounts for the year ended 31 March 2021. Charity no 1156464

I report on the accounts of the Charity for the year ended 31 March 2021, which are set out on Pages 20 -21

Responsibilities and basis of report

As the charity trustees you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 ("the Act).

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I am qualified to undertake the examination by being a qualified member of The Chartered Association of Certified Accountants.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

· the accounting records did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

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

Independent Examiner

Mr. D. M Thomas 77 Baylis Road Slough United Kingdon SL1 3PH

14

NOTES TO FINANCIAL STATEMENTS

Year projected to 31 March 2021

1. Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.

1.1. Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities: Statement of Recommended Practice' issued in March 2006 (SORP 2006) and the Charities Act 1993 and its amendments.

1.2. Cashflow

The charity may take advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small charity.

1.3. Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are

15

included at the value to the charity where this can be quantified. The value of services by seconded staff have not been included. Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.

Income from investments is included in the year in which it is receivable.

1.4. Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.

1.5. Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment - 33.33% reducing balance method

1.6. Defined contribution pension schemes

The pension costs charged in the financial statements represent the contribution payable by the charity during the year.

16

NOTES TO FINANCIAL STATEMENTS

For the year ended 31 March 2021

2. Voluntary income

Donations Charitable Grants/Awards Subscription/Interests

RESTRICTED UNRESTRICTED TOTAL TOTAL
£ £ 2021 2020
£ £
- 157,747 157,747 92,290
131,762 5000 136,782 12,000
- - - 438
131,762 162,747 294,529 104,728
3. Investment income UNRESTRICTED
FUNDS
2021 2020
Back interest receivable 120 120 438
120 438

4. Incoming Resources

RESTRICTED UNRESTRICTED TOTAL
£ £ 2021
£
157,700 157,700
Trading Income
157,700 157,700

17

Employees 2021 2020
£ £
118,715 98,500
Employments costs Wages and salaries

No employee received emoluments of more than £60,000 (2020 : None)

Number of employees

The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows:

Employments costs

2021 2020
No. No.
Charity Projects 3 3
Project Management 2 1
Interns 7 10
10 15

18

5. Debtors

2021 2020
£
£
26,914 15,140
Other debtors
- -
Prepayments and accrued
income
26,914 15,140
6. Creditors: amounts falling 2021 2020
due within one year £ £
Bank overdraft - -
Trade creditors 5,860 8,425
Other taxes and social security 26,200 26,924
Other creditors 10,765 6,343
Accruals and deferred income -
34,642 16,425
7. Cash Reserves
75,000

Funds set aside the board for the charity to be able to maintain its obligations for a period of 6 – 18 months in case of unexpected shocks/unforeseen circumstances.

19

8. Restricted Funds
At 1 April Incoming
Outgoing		 At 31
2021 resources Resources March
£ 2020
Description for Unrestricted Fund £ £

10,906
 -
 12,157
 16,500
Purposes of Restricted funds
9. Unrestricted Funds
At 1 April At 31
2021 March
Description for Unrestricted £ 2021
Fund £
98,821
90,861
Purposes of restricted funds

These funds consist of donations, trading income and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

20

END OF REPORT 21