Royal Anthropological InstAiut8 of Great Brltain and Ireland Raport and Financlal Statements Year ended 31 December 2024 CONTENTS Report of the Council of Members (including Trustees, Report) Statemènt of Trustees Responsibilities Independ8nt Auditor's Report stalernenl of Finar*ial Aclivitiets Statement of Financial Position Statement of Cash Flow Notes to the Financial Statements 14 15 20 21 50 Fitzroy Stroet Royal Charter Company Registratlon No.. RC(W916 Chaiity Reglstratlon No.. 1195523
ROYALANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND LEGAL AND ADMINISTRATIVE INFORMATION TNstses listed on pages 10 10 12 of this report CEO Dr David Shankland Charlty number 1195523 Royal Charter Company number RCCrf)0916 Reglsterod office SO Fitzroy Street. London W1T 5BT Audltors Friend-James Limited 4th Floor. Park Gate 161-163 Preston Road Brighton BN16AF 8ank6ra Naiional Weskninster Bank 45 Totlenham Court Road London W1T2EA Investment Advlsors CCLA Inveslmenl Management On8 Angel Lane London EC4R 3AB Sarasin and Partners LLP Juxon House, 100 St Paul's Churchyard, London EC4M 8BU
ROYAL AHRopoLOGIcAL INSTITUTE OF GREAT BRITAIN AND IRELAND REPORT OF THE COUNCIL OF MEMBERS IINCLUDING TRUSTEES. REPORT} The Council of members of the Royal Anthropological Institute of Great Britain and Ireland {commonly known as 'lha RAI'I presènt their report and financial statements for the year ended 31 Decernber 2024. The financial 8tatements have been prepa in a¢wTdance with tho xcounting policias set out in nota 1 to the financial slaternents ané comply with the Royal Charter, the Charities A¢t 2011 and Accounting and Reporting by Charities= Stat8m8nt of Recommend Practi applicable lo charities proparing their accounts in accordance with the Financial Reporting Standard applicablè in the UK and Republic of Ireland {FRS102}" leffective 1 January 201 gi. How our objectlves deltver public bènefft We have referred lo the guldance conlalned in the Charity Commission's general guidanc8 on public benefit when reviewing our aims and obJ"e¢tives and in planning our future activities. In particular the trusteos have considgred how planned activities will contribute to the aims and objedive¥ they have seL Our main objectives, activibes and beneficiar$ are described below. Objectlves and actlvltles The objects for which the In8tilute is e8tablished we.. To Prcxnote, in the public interest: anthfopdcgy in all its forms by means of publKations, film and other media, educational activities. SUPF(Srt for research. conferences, seminars, stewardship of its own and the discipline's archNal )rdS and collectL)ns, and such other adNiti8s a$ the Iruslees may deem appropriate. To enhance the public understanding of Anlhropol(MJy The RAI Seeks lo combine a distinguishéd tradition of scholarship reaching back over more than 150 y6ars with the active provision of services lo pre5enlylay anthropology and anthropologists {including students of anthropology). 11 achieves rts objectNes through journals, scholarly collections, special events. educational activilies. the management of a series of trust fijnds for the support of research, and the award of mjaI$ and honours for those who achieve high distinction in the discipline. Achlevements and wforniance nd P fil Tha RAI, as a professional academrc association. provides a range of seNices lo its membership as well as generalisod support lo the discipline of anthropology. Its internationally circulating journals Ise8 below) together disseminate the insights of anthropological research to academic and g8n8ral readerships. Its educational outreach programme communicates the subject lo a broad audience, especially pre-university students and teachers. It supports research by funding a rang& of scholarships and fellowships Through participation in national and international conferences and other evenls it contributes to the scholarly advancement of the discipline. From time to time and as appropriate, Il ongages in advocacy to represent the views of its membership. Individuals may join the RAI as fellows, student fellows or members. Fellowship is primarily intended for those who have an academic or professional engagement
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND with the social sciences. but amateurs are warmty welcomed. All fellows ar8 el8c18d by the Irusleès tsf the RAI. Fellows are entitled to print subscription and online access lo th8 Journal of tha Royal Anthropological Institute, including thé Special Issue published annually, print subscription and online CeSS to Anthropology Today, online access to the entire back files of both jOLtmals through JSTOR and Wley Online Library, online access lo the Anthropology Library's electronic resources via the Eproxy gateway and the right when in the UK lo borrow up lo 10 books from the Anthropology Library. Student fellowship is appropriate for students regist8red on taught or research prograrnmes leading lo a qualification in any field of anthropology, anywhere in the world. Student fellow8 ar8 èlected and musl demonstrate their student status. Beneffls are as for fellows above, however student fellows do not receive a print subscriptton to the Joumal of the Royal Anlhropobgical Insblul8. Membership 1$ open to all who havo a gen8ral inter8St in the study of humanity, without the need for election. Mambers are entitled to print subscription and online acc to Anthropology Today. Journal of the Royal Anthropolog81 Institute The JRAI 1$ the RAI'$ 'flagship' &ademic publication. It h8S 8 unique heritage as the world's oldestjournal tsf anthropology, and is a showcase for original and excellent work in every area of current anthropological rasearch. Widety read and cf(ed internationally. the Journal appears four limes a year, publishing challenging work by young anlhropologisls as well as seminal articles by established scholars. The annual Special Issue of the JRAI Is selected by open competflion and produced saparate from other i$sugs of the journal. It IS 8dvertised in the RA'S journals and on ils wèbsila, and 1$ distributed wilhoul tharge to RAI fellcws and lo libraries subscribing to the Journal. The nineteenth volume, °Reluious Suasion-edrfed by Sam and Danny Cardoz8 was published in 2024. Arplhmpology Today Anthropology Today is a bi-monthly publication aiming to provide a forum for the application of anthropological anatysis to public and topical issues. while reflecting the breadth of interes18 within the discipline. It is committed to promoting d&bal8 at the interface between anthropology and areas of applied knowledge such as education. medicine and development. and between anthropology and other academic disciplines. The journal is international both in the seope of issues it covers and in the sources on which tt draws. All substanlive contributions are peer- reviewed. Anthropological Index Online The Index 15 an indispensable online bibliographic resource for researchers, tea¢hers and students of anthrOpolY worldwide. New material is indexed on a continuing basis. With an average of 10,000 entries a year, AIO is among the worhfj's leading indexes, which covers an impressive range of anthropological literature and cognale disciplin8s in more Ihan 40 languages. As part of Its commitment lo offering new services to anthropok)gisls and the wider public Alo can produce slalistics and percentages about anthropological coverage of specific topies and languages,. national profiles r8laled to anthropological production" and in the future. rt hopes to develop an in18ractiv& map that visualizes AIO'S indexed material. The Index can supply, upon request and al a commercial rate, cuslomized bibliographies based on the journals indexed. Access is free to individual users. Inslrtutional us8rs (except those in developing countries) who make frequent use must pay an annual subscription lo help cover direct running costs.
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND Teaching Anthropology Teaching Anthropology ITA} is a peer-reviewed, open-access joumal dedicated to the leaching of anthropology. A journal of the Royal Anthropological Inslitule, TA promotes dialogue and reflection about anlhropological pedagogies in schools, colleges and universilies.11 also opens P088ibilities for personal and professional transformation. 8ringing together anthroptslogical and educational ideas, Ihg journal fosters 8 critical engagement with leaching practices and their role in developing our anthropological capacitie$. We also aim lo stimulate scholarfy discussions about the relationship betsveen pedagogy and ils social. institutional and poiftical contexts. The RAI Collection comprise5 Elhnographic Film. the Photographic Collection and Manuscripts and Archivès of the Inslitule. Photographs, Manuscripts and Archives The RAI photographie library include¥ over 100,000 historic images.. the oarliost of which dates from the 1860s. The archives contain material covering the history of the RAI from it8 beginnings in the 1840s, and the Manuscripts include a wide range of material, details of which can be seen on the RAI website. This material is of importance to researchers from disciplines including visual anthropology, history. and arL The Materal contained in the photographic library is highty relevant lo conlempomry, as well as hislori¢al. concern$. The Fagg Library, the personal library of fornier Hon. S8cr8tary W. Fagg, consisting of books dealing mainly with art, especially that of Africa. may be consuhed by appointment. The catalogue 15 available on the websi18. Ils colleGtions are open throughout the year for researcher8 to Consu by appoin1rn8nt. The Anlhropoltsgy Library and Research Centre, located at the British Museum, incorporates the original Library of the RAI and the Museum's Ethnography Library and is effectively Biilain's national anlhropok)gy library. The RAI contributes substantially to Library acquisitions and a180 lo staffing. The catalogue is available online and th& Library is open to the public for r8fer8nce and research. Fellows are able lo borrow material and ae$S the Library's electronic restsurces. The RAI believe8 that pmmobng the knowledge and understanding of anthropology to the gener81 public and secondary and further education IFEI studen15 can contribute to the creation of globally well-infomied citizens. This is the aim of its Education Outreach programme and activity in this area 1$ led by the R,$ Education Committee and the RAI Education and Communications Offi¢er. The Education Committee coordinates the RAfs programme of educatton in anthropology at all lovel8, including pre-university education. In 2024 The Education Programme ran its annual evenl'London Anthropology Day, htt s.'Illondonanlhro 8 university taster day for Year 12, 13, FE students, careers advisers and teachers. wtth the aim to encour898- anthropology undergraduate applicants. Throughout the year. we continuéd to build on the serigs of online courses that we launchgd in 2023, with the aim of attracting interested persons to anthropology. wherevar they may be found. Our major conference for 2024 was entit 'Anthropology 8nd Educ81ion', and look place in Senate House, University of London beeen 25th-28th Jun8. In planning Ihis event, we were mindful of two points in particular.. the desire after Covid for colleagues to get together face to
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRSTAIN AND IRELAND face, and the importance nevertheless of discussing issues through virtual meetings. We therefore divided up OUT efforts. Before the confergnce took plaee. we organised virtual seminars with co-partners, for exampl8 on 'Precarity and the Teaching of Anlhropoltsgy.. These were fascinating 8venls, and we look fOard to building on them. Then, for the main conferance. we met enlirgly face to face at Senate House, University of London. The key-note address was given by Lorna Williams. a most moving presentation on the phanomenon of forced boarding schools for indigenou$ people and the dam8g& that they can do. In total, we had 465 delegates from 45 different counlri8s. 42% from the UK and 58% from the rest of the world. There were 5 plenary sessions, 8 films. 6 roundtables, 3 workshops, 49 panels and 314 papers were given as part of the confgrence. We arg most grateful to our official collal)orators for thi8 event the IUAES Commission on Anthropology and Education: the EASA Teaching Anthropology Netsvork, the American Anthropological Association Council on Anthropology and Education, and tho Asso¢ialion of Social Anthropologists. The RAI website is available al This sbte gives full infonn8tion on all the RAI'S operations as well as ils structure and governanc8. The f811ows directory 18 availablo on the webstte providing a searchable database of our fellows and their inleresls. Publlc Bongfit Statemont Trustees ofa charity have a duty to report in their annual report on their charity's public benefit. The Trusloes of the RAI have considered th8 requirements which are explained on the Charity Commission website. The sections of this report above entitled "ObjectNes and activities. and 'Achi8vement8 and performance sel out Ihe RAI'S objectives and reports on the activty and successas in the year as well as explaining the plans for the current financial year. The RAI'S work benefit8 very wide range of scholarly organizalions and individuals aw)ss the Untted lQngdom. The TTUStees have considered this mattèr and concluded.. That the aims of tha organisation continue to be Charitab., That the aims and the work done give identifiable benefits to our members and the publ. That the b8nefits are for the public. are not unreasonabty restricted in any way and not by abilily lo pay,. and That there is no detn'menl or haryn arising from the aims or ti¥ll18$. Slatement on Fundralslng Activits The charity is not engaged with fundraising from the publ Financial Revièw During 2024, the RAI continued to return io normal operats"on8. thosjgh the Konomic disruption associated with the war in the Ukraine, and the Middle East continue lo gNe couse for concern. The specific threats that we have previously touched upon remain, in particular the unpredictability of journal incorne and inflab'on. This impacts upon our abilty lo maintain staffing salary levels al the same time as meaning that we ar8 faced w(th increased bills. To this we shoukl note that much of our publishing income comes in US dollars. This means that in times of dollar strength, our income: ineaseS. but this exposure al80 means that a future eakening dollar would mean that our sterling income decreases.
ROYAL ANTHROPOLOGICAL INSTETUTE OF GREAT BRITAIN AND IRELAND The diversification of our invgstmenls so 88 to include propety continues. At present, all the properties owned by th6 RAI are rented out. and provide a steady source of ineome. We conlinug to invest with fv40 ethical investmgnls platforms CCLA'S COIF Chartlies Ethical Investment Fund, and Sarasin's Endowments Funds. The value of the investrnents has now substantially recovered from the downturn of year5 ago. and we continue to hold our present positions, albeit under careful review. Durirsg 2024 a number of staff resigngd ft)Ilry•Ying a grTevance whKh was not upheld. This has resulted in an 8ppeal and further grievanw during 2025. along with signrficanl professional fe8s and the Teslgnalion of the president, some trustees arKI staff. The siiuation was reported lo the Charty Commission as a Serious Incident Report. Though the situation is challenging, the RAI continues to operate in budget surplu$ and has no debts. In the lighl of the uncertain financial situation the trustees beli8ve tt Prudent to build up reserves and endowments as much as possible. This policy is considered essential for the charity lo be able to improve current sefvices, programmes and publications. lo develop new ones and also lo continue its current activities in the event of a future 8ignrfKant drop in funding. The overall reserves of the charity have increased by £229.451 to £5,561,886 of which £1,748,559 is represented by the nel book value of fixed assets, £268,033 by other designated funds, £1,S14,715 18 in re81ricted funds and £2,030,S79 18 in unrestricted funds.The RAI'S reserves policy is to hold UnreStrted re8eNe5 to cover threa months, operating expenditure, i.e. minirnum of £250,000. Investments are held in The COIF Ch8A7ties Ethical Investm8nt Fund held by CCLA Investment Management and the Sarasin Endowfnenl Fund m8naged by Sarasin and Partn8rs. The general aim 1$ lo enhance the value of both Capital and income on a long-lerm sustainable ba8ts and to uphold the princip of investing in companies wf(h the hhest environment, sccial and governance (ESGI standards. Currentty, th8 funds produce an annual income of just under 30/0. Plans for the Future The RAI 1$ commilled lo provKling a wide-range of activities through ils committees and events that will serve to further the public education of anthropology. In part, r(s efforts for the future will be devoted to ensuring that this commitment will be sustainable in the bng-lerm. This will include the search for reliabl8 diversification of income. In th8 m&dium-long term, the RAI aims lo examine th8 possibility of acquiring new, larger pr8mis8S that will enable the Institute lo incraas8 furthar the numbers of 8v8nls that tt will hold, and also potentially explore close co- operation with other related learned societies in order to explore synergies in our aelivities that will lead tr) new eatIVe and intellectual partnerships. The Covid19 pandemic has encouraged the expansion of virtual events. and a core part of our future planning involves the way8 that we can incorporate this new emphasis into our existing. pre- Covid strengths. Vve have concluded the pilot year of our Teaching and L8arning Platform, which is largely virtual. This has been successful. and we hope that it will prowde a major new activity Our major conference this year was on Anthropology and Education, with particular emphasis on the following Strands.. Anthropology in pre-university environments.. teaching anthropology in non-anlhropology departments.. Anthropology, A and Media., Ethics and R8presentalion', Education and Indigenous Boarding Schools- Translating Cultures., and Anthropobgy, Teaching
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND and Museums. discuss pattems of undergraduate rpxruitment wfth those dep8rhnents legching anthropology in the UK. Royal Chartor The transfer of the RA'¥ assets to the new chartered body, noted in Lgst yearfs report, is n¢)W subslanli8lly concludad. and we have taken receipt of the physical charter itself, delayed because of Covid. We will therefore proceed with the closure of the previous charitable company. Summary Stratsgic Alms Provido, and improve, high-quality services (both virtual and face-ttrfacel dedic8led to the public education and understanding of anthropology in 11$ widest sense in this country, and inlernats'onalty. Build partnerships and increase community engagements in order to maximi$8 the impact of the RAI. Effectively meet the needs of stakeholders by providing flexible and active responses to identified needs within ?nlhropology. Mgintain and enhance the premise5 of the RAI and its colltionS $0 that it becomes we5coming and open forum for anthropological knowledge and r9s9arch. To grow the RAI'S Fell¢)wship, and provide maximum p0$5ibilities for the Fellows to interact with ils activities. committees, and ev8nts. Ensure the OTganisat*)n's lontrtemi fin8ncral stabilrty by making wdl-infomied busineBS and investment decisions. Summary 8trateglc Reportlng The Tru51ees are rponsible for setting a strategy with the Chief Executwè in order to achieve the objectives of the Inslitute. The focus of this strategy is the events, committees, publications, collections, research, outreach, partnerships and other InaliveS of the RAI. which are devoted to the public eduealion and understanding of anthropology. The Chief Executive provid8s the Tfuslees with reports that.. Review the Inslilule's progress in meeting these obiethe5. Provide key information on programme, financial outcomes and fellowship numbers that enable Trustees lo evaluate progress. Provide information on the Institute's staffing. fixluTes and fittings that pemiils theTrustees to monitor parftsrmance according lo regulatory requirements. Structure. govgrnment and management rnin The organisation is a Royal Charter Company and a registered charty. The RAI is govemed by the Royal Charter, Charities Aet 2011, the Charity (Accounts and Reports) R8gulalions 20Q8 and its charitable objectives. Governan The governing body ofthe Royal Anthropological Institute ofGreat Britain and Ireland is the Council. The Trus188s are the members of the Council and are legally responsible for Ihe governance and managernenl of tha RAS. The Council Consists of the President, 3 eleeled Vice-Pr8sidents, the Honorary Offer5 Iwilh the exception of the Hon Edrior of tho JRAII and up to 20 Ordinary Members. Former Presidents remain on Council 8s non-voting members {ie. they are no longer RAI Trustees). The Council is chaired by the Prtsidenl who is elected by the Fellowship on the recomm6ndation of the Council, and seTV8S for a 3-year term of offi. Ordinary Council
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND members are &lecled by the Felk)wship on the basis of a Hou$0 List of recommended candhyates drawn up by the serving Council, and serve for a 3-year term of office, onc8 r8newable. Prospective Truste8s recewe a briefing document describing the legal Sta6, role and r8spon5ibilities of Trustees. They are required to accept these conditions, and to be Fellows of the RAI, as a condition of election. Following el8clion th8y are invited lo visit tha F141 for further informal briefing by the Chief EXeC1v8 and staff. The charrty ensures that the Trustees raeeive opportunities for training a$ trustees on an annual basis. The Council is responsible for setting strategies and policies and for ensuring thal these are implemented, To assist with Tis work there are the following committees in the reporting period. Finance Committee.. assists the Trustees in th8ir duty to ensure that the RAI'S assgls are properly 8afegLrarded, managed and used and that funds are spent effecliveW and efficiently. Honours and Awards CommlLteo'. meets annually to make recomm8ndatsons to the Councll on the RAI'S various honours and awards Prasidential Commillee.. meets during eaeh presidential lerm to recommgnd a presidential candidate for approval by the Council Film Committee". oversees the RAI'S activities in ethnographic film, video and DVD.. and the biennial International Festival of Ethnographic Film Photo Commilte&'. oversees the conservation and use of Ihe RAI'S photographic collection Manuscripts and Archives Committee.. overseés the con8ervation and usa of tho RAI'S coll8clion of rnanuscript and archival materials Library Cornmittee.. coordinates th8 RAI'S policies regarding the Anthropology Library #t the British Museum's C8nlre for Anthropology, in consuttation with tha Museum Medical Anthropology Committee.. coordinates the RAI'S activities in the field of medical anthropology Education Committee.. coordinates th8 RAfs programme of education in anthmpolcgy at pr university level Publications Committee: oversees the K41's publications programme overall, and initiates new publication 8clivilies Research Committee= coordinates the RAI'S rewrch and acts as a 80unding board for the Chief ExeGulwe's research initiatives. Anthropology of Art Committee.. coordinates the Kll's activities in the Anthropology of Art and urales any art that may be found in the RAI'S, archive colledions. Forensic Anthropology Committee.. administers the accredilats.on offorensic practilioners Travel and Tourism Committee.. acts to foster links between anthropologists and tourism Studies within the UK and overseas. Ethnomusicology and Ethnochoreology Committee.. acts to encourage Ethnomusicology at tho RAI, at universities. and more widely, amongst the general public. Anthropology and the Environment Committee-. coordinate5 the RAI'$ activiiies in Ihe field of anthropology and the environment Anthropology of Policy and Practu Committee. a forum for discussion of ethnographic and anthropological research on organizalional policy-making and practices
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND -The trustees have overall resF)onsibility for ensuring that the RAI has appropriat8 syslem8 of control, both financial and operational. The Finance Committee meets regulaty and rewew5 thg major financial and owalional risks facing The RAI. It monitors th8 tmplementation of any Chare$ necessary to ensure that, as far as is reasonable, controls are in place lo protect the 8A. its member5. its staff and the general public. The RAI has a fomal risk management presS through whth the Finants Committee identifies the major risks to which the charty may be exposed, culminating in a risk r8gislerwhich 18 updated on a regular basis. All significant risks, togeth with current mitigatton actions, are reviewed regularty throughout the year by the trustee5. W8 have identified that the sustainability of our publication's income due lo the move to 'op&n access, is the major financial ri$k the fa. We aim lo manage the transition process by diversfying our income sources as much as possible. The pay of the Chief Executive and all staff is rewewed annualty and normally increas8d in accordance with average 6amings lo reflecl a cost of living adjustment. R•fèrnnGo and admlnlstralfve Infomiation Royal Anthropological Institute of Great Britain and IreLgnd is a non4tatulory enlity incorporated by Royal Charter Inurnber RC000916) and a registered Charity in England and Wales (charity number 11955231. The registered office is 50 Fitzroy Str*t. Lonéon W1T 5BT. Trusteos and members of the Councll Former Prasid&nts remain members of Council. but since 2021. are not trustges. VlcePresldents (past Prosldents) Professor Alan Bilsborough MA, Dip Hum Biol, DPhil12004-20071 (died 27.08.20241 Professor Sue Black, Baroness Black of Strome (2018-20221 (resigned 14.12.20241 Professor Roy Ellen BSC, PhD, FLS. FBA {2007-2011) Professor Clive Gamble BA, M4 PhD {2011-20141 (resigned 01.01.20251 Professor Jean La Fontaine BA, PhD, PhD (Hon, Linkopingl, PhD (Hon, Openl, Dlitt (Hon, London Goldsmilhsl11985-1987) {inactive) Professor Roland M. Lilllewood BSC, MB, BS, DPhil, Dlit, DSC. DipSocAnlh, FRCPsy¢h 11994- 19971 IDied 25.11.2D25} Professor Adrian C. Mayer BA, DipSocAnth, PhD11983-19851 IdK¥J C9.09.25) Professor André Singer Bsc {Econ}, Blitt, Dphil (2014-20181 The Iruslees and members of the Council. who served during the year until the AGM on 24th October were.. Presidont Professor Deborah Anne swall¢ (resigned 31.03.20251 Wiee Presidents lelectsdl Professor John Gowlett Dr Louise Humphrey Professor Melissa Parker Hon Secretsry Professor Raymond Apthorpe 10
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND Hon Treasurgr Dr Fiona Bthvi8 Hon Llbrarlan Professor Michael Scott Ordinary Members of Council Professor Hazel Andrew$ Professor Sara Cohen (resigned 14.01.2025) Professor Ann R David Professor Richard Fardon Professor Emma Gilberthorpe (resigned 20.08.2025) Professor Rachael Goobemian.Hill Professor Nichola Khan Profe880r Paul Lane Professor Ann MacLarnon Professor Garry Marvin Dr Helene Neveu Kringèlbaeh Dr Celia Plender (resigned 25.07.20251 Professor Jamie T9hrani (resigned 30.C6.2025) Keith Thoipe. OBE Professor Simon Underdown Professor Maya Unnithan Dr Richard Vok88 Ir8signed 2510712025} Dr Shireen Walton At the AGM held on October 241h 2024: the following Trustees were elected Pregldent. Professor Deborah Swalbw Irasigned 31.03.2025) Vice-Presldents Professor Emma Gilb8rthorpe (resigned 20.08.2025) Professor Ann MacLarnon Professor Maya Unnilhan IslocKI down as WwPre$ident 20.08.2025) Honorary Secretsry Professor Simon Underdown Honorary Treasurer Dr Fiona Bowie Honorary Llbrarlan Profes¥or John Gowlett Councll Professor Hazel Andrews Dr Judith Aston Professor Paul Basu Professor Sara Cohen (resigned 14.01.2025) Professor Ann R David Professor Richard Fardon Professor Haidy Geissmar Professor Rachael Gooberman-Hill Professor Nichola Khan Professor Paul Lane Professor Garry Marvin Dr Helene Neveu Kringelba¢h Dr Will Norman (resigned 21.07.20251 11
ROYALANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND Dr Celia Plender (resigned 25.07.20251 Professor Jamie Tehrani (resigned 30.06.20251 Keith Thorpe. OBE Dr Richard Vokes (resigned 25107120251 Dr Shireen Walton Al the AGM held on September 241h 2025, the following Trustees were elected. Presldent.. Professor Jonathan Spencer Vice-Presidents'. Professor Emma Crewe Professor Lucina Hackman Professor Ann MacLarnon Hon Secretary: Professor Simon Underdown Hon Librarian: Professor John Gowlett Hon Treasurer.. Professor Julian Thomas Councll: Professor Hazel Andrews Dr Judith Aston Professor Paul Ba8U Professor Ann R. David Professor Richard Fardon Professor Haidy Geismar Professor Bruce Gibson Professor Rachael Gooberman-Hill Professor Chris Hann Professor Deborah James Professor Pamela Kea Professor Nichola Khan Professor Paul Lane Professor Garry Marvin Dr Hélène Neveu Kringelbach Keith Thorpe, OBE Professor Maya Unnilhan Dr Shireen Walton Rglated parties These are described in note 24 of the financial statements. Dlsclosure of Informatlon to auditors Each of the Iruslees has confirmed that there is no information of which they are aware which is relevant lo the audit. bul of which the auditor is unaware. They have further confirmed that they have taken appropriate steps lo identify such relevant information and lo establish that the auditors are aware of such information. 12
ROYAL ANTHROPOLOGICALINsnnJTE OF GREAT BRITAIN AND IRELAND Audor Fr-jaMeS Limite¢ were appointed as &rtorS to Ihe o)mpany 8 resolution proposing that they be fe-appoinled will be put at a General Meeting. On behav of the board of Truste9S Professor Jonathan spteT, Presld•n¢ Date,, 13
STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard8 (United ngdoM Generally Accepted Accounting Pracl¢ce), including FRS 102 The Financial Reporting Standard applicable in UK and Republic of Ireland.. The law applicable lo charities in England and Wales requires the tru8tees to prep8r8 financial 81alemenls for each financkql year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that year, In preparing these finanGial statements, the trustees are required to.,. solect suitable accounting policies and then apply them eonsi8tenty. obsarve the methods and principles in the Charities SORP. makejudgemenls and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subiect to any malerLg1 departures disclosed and explained in the financial statements,. and prepare the financial stalamenls on the going concern basis unle88 it is inappropriate to presume that the charty will continue in operation. The Iru$teas are ress)on8ible for keeping sufficient accounting records that disclose with reasonable accuracy at any lime the financial position ofthe charity and enable them to ensuré that the financial slalements Comp wtth the Charities Act 2011, the Charity {Aceount8 and Reports) Regulations 2008 and the provisions of the trust deed, Royal Charter and Bye Laws. They are also responsible for safeguarding the assets of the charlty and hènce for taking r8asonablg steps for the prevention and dotection of fraud and other irregulariti8S. The trustees are responsible for the maintenance and integrity of the charity and financial infomalion included on the charity's wobsite. 14
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND Oplnlon We have audlled th8 financAal sts16ments of the Royal Anthropologir21 Institute of Great Britsin and Ireland Ilhe 'charity'l for Ihe year ended 31 Dacember 2024 whith comprlse the slai@menl of financi81 acllvS1ies. the stslem8nl of financlal p05ilion, the statement of cash flows and notes to the fin8nclal ststements, Including significant accounur policies. The flnancial reporling framework Ihat has been 8pplieiJ in their preparation is appllcable law and United Klngdom Accounfjng Standards, including Finanaal Reporting Stsndard 102 The Finandal Reporbng Standard applicable In the UK and Republic of IrelarKI (United Trfjngdom Gener81ty Accepted Accounung Practice). In our oplnlon, the financial statements: give a true and fair view of the stale of the charitable company's affairs as at 31 December 2024 and of Its incoming resources and application of resources. for the year then end8d,' have been properly prepared in accordance with United lQngdom Generalty Artspted AcuUnng Practice: and have been prepared in accordance wtth the requirements of the Companies Act 2006. Basis for oplnlon Wa conducted our audll In aordance wlth Inl8m8tional Standards on Auditing (UK) (ISAS IUKII and appllcable law. Our responslbllldes under those standards 8re fvjrther described in the Audllprfs responslbllluas for the audit ol th8 finanal statements Stion of rMJr reporL We are independent of the charity in acrdanCe w5th the elhicsl requirements that are relevant lo our aLHYIt of the financial statements In the UK, includlng thé FRC'S Elhlcal Standard, and we have fvlfill8d our Other ethical responsibilities In accordarte wth these requlrements. We beli8ve that the audlt evidence we have obtained is sufficient and appropriate to provlde o basis for our oplnlon. Concluslons relatlng to going concern In auditing the financial statements, we have conduded th3t tho trustees. use of the going COrern basls of accounting in the Fwaration of the finanual stalements is appmprfate. Based on the woth w8 have performed. we have not identrfied any malerial uncertaine$ relating lo events condillons that, indlvldually or colleclwety, may cast ifiCant doubt on the drity's ability lo contlnue as a going concem for a period of at least twdve mnlhs from when the financial stslements are authorised for issue. Chjr r8sponsibilib.es and the responsibilities of the trustees with respect to wng concem are described In th8 relevant sections of thls rèporL Other Informatlon The other informalion comprises the infom8tion incJuded in the annual report other than the fjnan¢ial ststemenls and our audilorfs report Ihereon. The trusleos are responsible for the other infomiation contslned within the annual report. OLJr opinion on the finanryal statements do8s nol wver tt)8 other Infomiabon and we dD not express any form of assurance conclusion theon. Our responsiblllty is to read the other infomiation and, In doing so, considor whether the other infomation Is mal8fialty inc4)nsistenl with the finanrjal statements or our knowedge obtained In the course of th8 audit, or otherwise appears lo be materi8lly misslaled. If we idenllfy such material inconsistencjes or apparenl material misstatements, we are required to delemilne whether thls gives ris8 to a material mlsslBtemenl in the flnanc181 statements themselves. If, based on the work we have performed, we conclude that there is material misslalemenl ofthis other infom8tson. we are required to report Lhat fact. We have nothing to report in this regard. Opinions on other matters pSCrIbed by the Companies Act 2006 In our opinion, based on the work undertaken in the cours8 of the audit the infomiation given in the trustees, report which includes the directors, report and the 51rateglc report prepared for the purposes of company law. for the finandal year for which the financial statements are prepared is conslstent wth Ihe finandal stalements: and the directors, rep¢Jrt and the strategic report induded within the truslees. report has been prepared In accordance th applicable legal requirements. 15-
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF ROYAL ANTHROPOLOGICAL INSTrruTE OF GREAT BRITAIN AND IRELAND Matl•r8 on whl¢h wo aro roqulr•d to report by oxception We have nolhlng lo report in respect of the fdlowng matters in relation lo whlch the Chartties (Accounts and Reports) Regul8b'ons 2008 requires us to report to you if. in our opinion- the information given in the finanrAal stslements is inconsistent in any matertal respect Iwth thè trustees, reF)ort or sufficient a¢counbng rttords have not been kept or the financlal slalements are not In agreemenl with the acojunting recx)rds,' or the trustee5 were not entitled to prepare the financial statements in aordanCe wllh the small comp8nles regim6 and lake advantage of the small comp8nles' exemptions in preparing the trust88s' report and from the requlremenl lo prepare a stratègic reporL Rgsponslblllt1•5 of trustgos As explalned more fully in the ststemenl of trustees, responsibillties. the trust88s, who are also the dlreclors of thè charity for the purpose of company law, 8re responsible for the prep8raUon of the financial statements and for belng sat18fied Ih8t they give a true and falr vlew. and for such internal control as the trustees delermlne Is necessary ID enable the preparation of financial stslemenls that are free from materfal misstatement, whether due to fraud or error. In prep8rfng the financlal ststem8nts, the trustees are responsible for assessino the chartty's ability to conllnue as a going concern, discloyro, as applicable, matters r8laled to going conrn and uslng the going concem basls of accounting unless the trustees either intend to Ilquldate the charitable Company or to ceas? operatlons, or hove no realistic altemallve but lo do so. Audltor's rasponslbllitles for the audlt of the financlal statsments Chjr objècuves ar8 to obtain reasonable assur8nce about whether thè financial ststements as a whole are free from material misstatement, whether due lo fraucl or errw, and to Issue an audllorfs report that includes Dur opinion. Reasonable assurance is a high level of assur8n¢e bul not a guarantee that an audit ndUcted in accordanc& th ISAS {UKI 11 always detect a material misstatement when it e$ts. MisslatentS can arise from fraud or 8rror and are consldered material if. individually or in th8 aggregate. they could reasonably be expected to Influence the e¢Dnomlc de¢6sions of users taken on the basls otthese financial statements. The extent to whlch our prrKedures are capable of detecling irregularities, IUdIng fraud, Is detalled below. 16-
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES QF ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND Extent to whlch the audit was consid•red capable of detectlng IrregularrtiBs, includlng fraud Irregularities, induding fraud. Bre instances of non-C(*npliance with laws and regulatlons. We design pwedurgs In line with our responsibilities. oulllned above. lo delect material misstatements in respect of irregularllles, Including fraud. The exienl to which our pr8dreS ar8 capable of detecting irregularities. includlng fraud Ss detalled below.. Our approach to identifying and asseSng the rfsks of material misstatement in respect of irregularities, including fraud and non-¢t)mpliance wlh laws and regul8lion5, was a5 follows- the engagement partner ensured that the engagement team colledvdy had the appropriate compelonce, capabilities and skills lo identify or recognlse non•cornplIan wth applicable laws and regulauons; we identified Ihe laws and regu18tions 8ppllcable to the cnmpany through discusslons wllh dlre¢tors and other management, and from our commwoal krM)vAedge and experien of the charity and education sector.. we fUSed on specific18WS 8nd regulauons whth we considered may have a dlwl material effect on the financial slalements or the operauons of the company. induding Companies Act 2(K16, taxation leglslallon, éala protection, anb-bribgry and emplDyment. We also reviewed the compliance wlth educallon regulatory bodies such as British Counol for accreditstion and IrKlependent Schools Inspectorate. we assessed the extent of Cornplian th Ihe laws and regulallons Idenllfled above through maklng enqLJiries of m8nag8ment and inspecfjng legal correspondersce,. and Idenllfied laws and regulauons were communicated wlhin ts audii team regularfy 8nd the team remalned alert lo instances of non-compliance throughout the audit. We assessed the susceptlblllty of the company's finanoal ststements lo matW81 mlssts1en( Includlng obtainlng an understsndlng of how fr8ud might oc(yJr. by.. making enquiries of management as to where Ihey consldered there was susceptibility to fraud. thelr knowledge of actual, suspected arKI alleged fraud.. COnderIng the Intemal controts In place to mitigate rfsks of fraud and nOnMplianCe with laws 8nd r8gulaUons' and Audlt rosponsa to rlsk$ Identitled To address the risk of fraud through management bias arKI override of c()ntrols. we: performed analytical procedur&s lo id8ntyfy any LFnu8ual or unexpected relalionships- tested joumal entries to identlfy unusual transaction5', investigated the rdtionale behind significant OT unusual transactions" and In response to the risk of irregularit'es and non-compliance laws and rogulallws, we deslgned proceduros whbch ilUded, but were not limited to: 8greeing financtal stst8menl dlsclosures to underlying supporting drKurnation. reading the m1nutes of meetIS of Ih05e charged wth govem8nc8', enquiring of manag8menl as lo actual and potential likngalion and dalms. There ar8 inherent Ilmltslons In our audit prdureS describod above. The more removed that laws and regul8tlons ar8 from financial transacbons, Ihe less likely it is that we would become 8W8re of non<omplianc8. Audlling standards also limit the audit pro¢edures required to identsfy non-compliance with laws and regulations to enquiry of the directors and other management aTrd thè inspection of wulatory and legal correspondence. if any. Material rllisstatemenls that arise due to fraud can be harder to detect than those that arfse from error as they may involve deliberale cOnalment or collusion. 17-
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND A fvrther description tsf our responsibilities is available on the Finanual Reportlng Councll's webslte at.. https.'Il www.frc.org.uklaudltorsresponsibilities. This (Jescription fonns part ol our audito¢s report. Use of our report Thls report is made solely to the charitable compan$ members, as a body, In accordan wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audtt work has been undertaken so that we might State to the charitable cornpany's members those matters we are required to state to them in an audilorfs report and for no other purpose. To the Ilesl extent permitteLI by law. we do not apt or assume responsibility lo anyone other than bye charitabl company an ble cOmpanS members as a body. for our audit Work. for this report. or for the opinlon5 we have forme Rogor Clow FCA (Senior Statutory Auditor) for and on bahalf of Frlond-Jam$ Llmtt¢d 17 December 2025 Chartered Accountants statutory Auditor 4th Fl¢)or. Park Gale 161-163 Preston Road Brighton East Sussex BN16AF 18-
ROYAL ANTHROPOLOGICAL INsTITE OF GREAT BRITAIN AND IRELAND sTATEMEp OF FINANCIAL AcnvmES FOR THE YEAR ENDED 31 DKember2024 Unrpstrlcted DeBlgnathd FurMIs Funds Ro$trf¢wd Fund 2C24 Total 2023 Tolal INCOME Donat)n¥ and grants Inv8strnent illGome Mi$cellan90us fee5 329 158,523 30061 158,852 227.701 22,488 89,985 196,000 7,831 198.794 22488 Incon from chaiilable ac1rrfkS.. Fell(yhiP and Mèmb•rshlp Publlcallons RAI CollEctK)n 123.730 717 I,730 717,885 71,258 119,124 122,443 737,181 153,274 23,538 71.258 119.124 EdtIOn PYograrnm8 TOTAL INCOPJtE 189,084 1,441.038 1330 252 EXPENDITURE Expenditure on ¢hantable activities." Policy and Profile Fèllowship and Membership Publicati¢)ns RAI Coll6otiDn Ltbrary Education Programft 182.498 85.ll3 380.363 237.529 38.525 264.129 750 13,286 196.534 85,773 380,363 293,787 38,648 334,301 157.3( 72,852 379,069 237,492 48,775 201,85e 56.2S8 12 13 121 70,172 TOTAL EXPENDITURE 14 1.188.817 871 139,716 1.329.404 1097.350 N&t Incomo for thè yèar Gainlllo¥sl on investment5 Transfers bethegn funds 62.791 15251 312 49.368 27.541 111,634 117,817 232,902 212,020 25 26 {60.0001 Net mov?m•nt In fvnd8 102,755 49.787 76.909 229,451 444,922 Fund balanS at l Jan 2024 1,927.824 2.(X)9.eos 1,395,006 5,332,435 4,887,515 Fund balancas at 31 Docomber 2024 5561886 5 332 437 Note: Soe pag• 33 for ygarended 31 Decemb•r 2023 ¢ompardtlves. 19
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024 2024 2023 Flxed assets Tangible fixed assets Freehold investment prop Listed investhants 18 19 20 673,559 1.075.0 1696.174 S,444,733 673,5D4 1.075,OC(I 3,530,878 5,279.382 Current assets Debtors Cash al bank and in hand 21 209.088 410.551 619.639 188.157 298.136 486,293 Credltorsvamounts falllng duo wlthln on• year 502.486 433,240 Net currgnt a$$ds 117.153 53.053 5.581086 5,332.435 In¢Nno fund• Reslncted funds 25 1.514,71S 1,395,CK Unrestricted funds Designated funds Other charitable fLn 1016.592 2.030.579 2.009,605 1.927,824 25 5.561M86 5,332.435 and are SI0d ils behab. Professor Jonathan sper President Date.. 20
ROYAL ANThROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 December 2024 2024 2023 Cash flow from operdtlng actlvtties Nel movement in funds Add back dePreCli0n charge Deduct investrnent income De¢rease lincreasel in debtors Increase Idecreasel in creditors 111.634 1.301 (227.7011 {20,9311 69,246 232,0 1196,0001 3,161 73.970 Net cash g8nerated from operatlng actlvitlès 166,451) 11 5,081 Cash flows from Investing actlvttles Listed investmént activities Purthase of listed investments Purcah8e of Fixed Assets Investment interest re-investe Investment income (450,0001 11,356) {47N79) 227 701 178,866 129,2831 196,000 1283,2831 Net decrease in cash and ush gqulvalents 112,415 1168,2021 Cash at 1 January 2024 298.136 466.338 Cash at 31 December 2024 410.551 298,136 21
ROYAL ANTHROPOLOGICAL INSMTlE OF GREAT BRITAIN AND IREND Note8 to thg financial slatsments- year endèd 31 Doe•mb•r 2024 A¢eountlnq polkl Charlty Informatlon Th? RAI is a non-Statutory body Incorporaled by Royal Ch¥rter{numiw RCOLK)9161 and 8 ¢h8rrty registered in ErvJtand and Wales (number 11955231. The address ofthe r8gksts Offi is 50 Fit0Y Str88( London. W1T 5BT. 1.1 A¢¢ounng conventlon The f nanaal statements have teen Kxwarad in acx£)rdan ¥th the Chants"as Ad 2011, FRS 102 Fln8nual Reportiryd standard applicable in the UK and Republic of Ireland. I'FRS 102.1 aNI the Charities SORP Acccmjntiry and Reporting by Charitie5.' Stst8meftt of RecomrneTrJed Prao#i(x applble to charitie5 prèparing thèir aecounts in acrdn with the Fin8ncial Reporung Standard applica0 in the UK and Republic ol Ireland IFRS 1021 {effective 1 January 20191. Thè charlty 1$ 8 Public Benefit Entity as d6fin8d by FRS 102. The financial ststsments are preparèd In st8rtirYJ, which is the nIOal currency ofthe tharity. Monetsry amounts in thosa financial stat8ments arg rounded to the rare61 £. The financlal statements have begn prepared under the hislorbeAI eonvantion, modffied to indude the revaluation of freehold proFerbes and to include investhent PTop•rties tertain financi81 irntrumonts at fair value. The pAncipal accounb'ng pdlues adopted are ¥ot 1.2 Golng concern At thè Um$ of approving ts finanrxal statents, ts tru3tegs h9¥8 a a$able expe(Aat¥on Ihatth8 charity has ad8quat6 sources to conlinug In operath.onal existenc4 fortr loros80able fiJture. Thus. Ihe trustses contiriue to alopt tha going concgm basis of accountiryJ in PTeparing the finanaal Staen. In¢om• All Incomlng resources are included In ihe statement offin8nctal %tithes when the Instittrtè ig èntsued to the income 9nd the amount (an bo quantified wth reasonabb accuracy. The follcmiro speryfic Oily 8T& applled to particular eAtagorEs of Inc£ne.' Voluntary re3our<s a¥e inclLkYed in lh& st81oment of financaal acbvibes Irtsbbjte is entitled to the income and tho amount can bè quantifi wth raasonabla ac£uraGy. Membèrshlp 8nd sub8CriPtion income is Ind in the statsment of finanaol aCtiveS when thè Ingtthte is entiued to Ihg Income. Intsngible incLme Isu¢h aB ltsumals red free of Chafgel induded %tstter8 a thiTd party k8 Laring the cost ol supplying tho resources and the resourcos can be Valu with r8asoHable acnjracy. Inv8slmènt inwme 15 Indtbd en re¢%(vable. Ineoming re5vur8 fr¢m Charitable trading athb8$ are aceount8d foren eam&l. Any inc(Xng receNed in advanrA is Includéd in deferred income. Tha value of8ervrs pwded by volunteeTS has not b8en inclLthd in the88 finan¢ial statements. Exp8n(ltture All expendittjra is accounted for on 8n accruals basis and has induded under expense teori&s that aggregate 815 e08ts reloting to that category. WhEre costs cannot b8 dirèdty aitn"but&4 to particular aGtivsUes, they have been allocated to actiirities on a basis consistent wth the use ofieS(yjr as de5cbed lOw. The èxp8nditurg IdS in the Ststemgnt of Finanaal ACtilieS indvje bolh dif&i cosis alltsd support costs. G¢)¥em8n costs are those ineAJrrèd In connection ena1 ts Institirte to compty wilh ext•mg1 regulation, eonSltutnal and statutory requirements and in provKling $upwrt to th& trustees in the di5¢h8rgè of their ststutory dubes. Support costs are those costs Incurrwj in supwl ofenditsJre on thè (A)jacts ofthe Instthte arKI they have been 8llo¢atsJ on a &ysteMat basis bed on stsff time expend&l on exh tharitable activity. Any tsmiinabon payments arè 8xp8nsod to the SOFA they incurred The Institute Is rsgistered for VAT arnl 8cwrdiThJly eypenditure is ShDTr rt ol ffjU)verab VAT.
ROYAL ANTHROPOLOGICAL INSnTUTE OF GREAT BRITAIN AND IRELAND Not•9 to the flnanclal 8talements - year ènded 31 Dember 2024 A¢¢ountlng pollcSeB I contInu) Accumult lunds Restrlcted fuThts are subj8ctlo Spaar eondthons by dorThB a5 to how th8y may Us. The puox¥se and u8es ofll restricted ftEnd5 8rÈ sèt out in note 28. Dg8ignated funds Cprise funds which h8¥0 bn sgt aside at the disc¥etion of for ycifK purposes. The purpgses and uses ol designated funds Br• s8t out in Mte 26. Tanglbff• f1x ass8ts and depreclatlon Tangible fixed a85&ts 8rfy in1t1al measured at C05t arKI 8ubs8quènty m8asured at cost or valuation, of d&preda0Th and any impaim&nt k)sses. DaprècLglon Ls roo)gnised so as to I1? LY)stor Valuation ofassets thèir rosldual v8lu8S Over thr u8efvl liv on tha followlng bases.. Freghold land and buildings- t)8pr8c#ated to the residual val Fixiures, ffttiros lumilure and Èquipmant- 15% reduciro balance Cornputsr equitxnent- 25% 8tr#KJhl lin No dopffj¢i8ti¢n has been provided on the tr08hok1 property 50 Fitzroy Stree( L0ndc. The prGygtty Is regularty maintsinal, and th8 trustees conduct an impairm9nt wew 8nnualty. IMpalmn offixed asséts At each reportiro and data, th8 tharity TeMev+B the carrrj amounts of ts tarolble assets to detenpine bthothgr thgf8 is any indication th8tthos& assets have Suffwèd an impairmaTrtt loss. If any such indKation exsts. rècoverable amount of the a$sel is &stimated in order to detenIn0 th& axt8nt ol thé impaimient1035 Irf any). Herltage assets H8ritage assets, prirnarily the librarfes, phOtog[aph ojlwon, of art manupi$ and arthiv95 ara not Indudad in the In8litut0's financial statements at any value. Thgra arè ovar 1LKI,QOO phWraphic iteTn8 dth.ng from thg 18eo s, apprO#t•lY 500 manuscripts dal'ng from thelgto 19th Century and over 1(KJ,O(X) book8 lin both th& 8rib.sh Museum and the Fagg Library In Fi12roy Streell. The in housè archiw contsins ovèr 3(M)W pages daiing bad( to ourfoundiThJ in 1832. This is in 8¢idn¢ With the Financial Reporbng Standard applicab in the Unitwj KiThJdom and Republic of Ireland IFRS102} wttlch specifies that assgts hekl In fvrtherarn of the objects of the Instttute for long tsmi preservation for whth rellae cost infomiation is not available and c4)nvents'onal valuation approacttes lack sufficient reliatMIty, eAn b8 8Xd from the balance 8heoL Inv•stm•nts The3e arè stalgd at laii value. Gall and losses on dist1 and r8valualion of invesbnents ar¥ ¢haru¢d or credltad lo Ihs SOFA. Invostmentproperty Inv8stm8nt prcperty, which is property hgld to eam renta aYdloT for capitsi 8pprwob"on. is inibally recoJnised al cost, vthlch Includes the puhase ¢o$t ar¥J any direttJy atthbUtae eJpeTKliturè. Subsequenlly it is measured al fairvalug 91 the reporting end date. The surplus or defiat on rgvaluatKsn is recognwl in profit and ths. D•btor8 Trade and other debtors arg e0nisj atthe setuement amount duo 8ftor ony trade dtscount offered and p810n for bad and doubtfvjl debts, Propaytnents are valued at the amount p*paKI nat of any trade diswunts due. Cash atbank?nd In hand Cash al bank and cash In hand indudes cash and thrt highly IUld inlments 1th a short maturty ol three month8 or le59 from tho dab of acquisition or opening Df ts dawstt or similar account Credltprs #ndprovlslons Crpditors and provisions are recognisèd tha Charity has a pr85ent d)IvJation reSUng from a past event th81 will probably rasult in the trans.er of fund5 to a third party ar.d the amount due to sgtN& thé Li¥ligation can be measured or estimated reliably. Creditors and provisi()ns arè ngmally recognised at their setderD.8nt amwn: after for any trad8 diswunts due. FInala1 Instruments The Institute only h85 financlal assets and financaal liabilthey of a kiThJ thatqualfy as basic financial instrumants. Basic finanrAal instruments arg inib"8lly rogniSed at transaction value and subsequenlly measurgj attheir setuemonl valu6. 23
ROYALANTHROPOLOGICAL INSTITLrrE OF GREAT BRITAIN AND IREiAND Mot8S to tho financlal stalemonts- year ended 31 D6¢ember 2024 Accountlng policles I continu•d) Pensions The Institute operates 8 number of defined contribution pension plans. Contributions payable for the ygar are charged lo the SOFA. Contributiorbs are alloeated befyyeen activi5 on the basis of staff Ume. Forelgn currency tran$latlon Tr8nsaotions denorrwnated in forelgn CUrrencS are re&Yded al th8 8verag8 rate of excharKJe rullng In the month of thè transaolion. Monetary asse15 and Ilabilities denominated in foreign anCIeS are translated into slerflng at the rates of exchange ruling at the balance sheet dale. All drfferences 8re taken lo tho SOFA. Judgemonts and key $ource8 ofestlmation uncertslnty In the application of the charity's 8ccounttng pollde$. the trustees a wuired to make judgements. estimates anfj assumpllons aut the carying aUnt of assets and liabilities that are not readily apparent from other sources. The estimates and associated a85umplions ar8 based on historical experlen¢e 8nd 0th8r factors Ihat are Ln5NJered to be relevant. A(thal fesutts may dwfer from th8Sa gStSmates. The eslimales and underlying assumptions ar8 r8w8wed on an ongoing basis. Rewsions to aw)unting 081imates are recognlsed In the period in which the estimat8 is revised where the rewswjn affects only that period, or in the period of Ihe revisK)n and futur8 peThod8 where the remsion affects both rrent and future nls. Crltl¢o1 Judgements Frneholdproperty d8precFatton As described in the deprecialion accourrting poliLy, no depdatIon has been prtiwded on freghold propwty since rfc 18 regularly mainlaSned and in lh8 opinion of the Coundl any depreciation of the woperty would not bo material. Herftag• assots As de8erib8d in note 18. it is not considered appropriate lo attritKJle a SFMJ"kvalue to the heritage assets du8 to the significant cost that would be incurred In estsblishing a valuation whK woukl far ouhvgh the benefftto Use ofth8 accounts. K•ysour¢es of estlmatlon uncertainfy The estimates and assumptK>ns which have a significant rtsk of causing a rnaterial adiusknenl lo the carying amount of assets and liabiliiiès are as follows.. Invesfmentpmp•ty valuatlon As described in note 19, the fair value of the investmgnl proporty has been delemined by trijstees on an open mark&l basis by reference to market eviden of tr8nsa¢tion prices for similar properties al the reporbng 8nd dale. 24
ROYAL ANThROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IREiAND Notes to tho financlal statements - year 8ndod 31 Docgmber 2024 2024 2 Voluntary Incomè and grants r8celv8d Voluntsry Income Gifts in kind of journals to the Institlrte othgr donab.ons Grants rec8ivable Curf Bequest Fund Wèllcom• Medal FuTra BhoSal Anthropolcw Soeièty Esperanza Trust for Anthr9)ok)gI Researd) COST 6,960 352 329 2,258 50.000 26,000 16,000 64,265 158852 2,432 2e,990 89,985 3 Investrnont Income Rental income Dividend in¢ome Interest Incom8 96,2 76,120 54,619 227,701 95,304 73,807 26,889 196000 4 Fellowshlp and Membershlp Income Fallows, & mwnber3' 8ubs¢riptions G•ographl¢al allocatlon Unlted Trlngdom Overseas 123,730 122,443 86,611 37.119 123,730 73,466 122,443 The number8 of felk)ws, member5 and student felky•*E of the Instilute at 31 December 2024 were 1,803 12¢T23: 18271 S Publicatlons, subscriptlons and sales- income SubscrIpon8 JRAI and AT inslilutional sub8crptions cdwed by Wi Anlhropglogical Index Online Royalties, permlsslon and advertlslng fees 474,181 205.087 38,617 717.885 489,846 206,773 40,562 737,181 Geographlcal allOcaOn United lQ'ngdom Ovèrsèas 100,504 617,381 717,885 103,205 633,976 737.181 6 RA[ ColleOn- Income (Photographs. films and archives) Photographic colltiOn Ethnographic film 31,522 39,736 71,258 37,353 115,921 153,274 7 Educatlon Programmo - Income Income from confer8nce other income 92,597 26,627 119,124 3,251 20,287 23,538 25
ROYAL HRoPOLoGIcAL INSTITUTE OF GREAT BRITAIN AND IRELAND Notes to the financlal statements- year ended 31 DKember 2024 2024 2Q23 8 Pollcy and Profile- expenditure Activities 8nd other expenses Grants payable Staff costs Supp&t costs 29.757 13,489 50,871 102,417 1,534 19,420 47,947 81,900 153733 9 F8llowshlp and Mgmbership- expgndlturg staff co818 Supwrt costs 25.608 60,165 85,773 29,964 46,898 10 Publlcatlon$ - expgnditurn JPAI & AT institutional Subscriptic5 retained by Wiley JRAI edf(orial costs Anthropology Today Edftorial Costs Anthiopology Index Online Costs Stsff Costs Support ¢osls 170. 4,023 13.079 188,897 4,061 12,298 647 144.971 28.131 379.005 157,098 36.099 380.363 11 RAI Collection - expendlture Ethnographic film Photographic co51ection & archNes Staff Costs Support costs 61,431 3,814 130.766 4,846 173,739 52,138 293,787 237.399 12 Ubrary- expenditure Book purchases and subs1p110ns Staff costs SupkK>rt costs 18.593 26,315 6,792 15,633 48,740 20.053 38.646 13 Educatlon- expendlturo Staff costs Other expenses Support costs 43,923 88.4TT 201.1 334,301 39,758 55,574 106.281 201 613 Included in notes g to 14 a grants for research and travel wth an aggreg*e value of £5,025 payable to 6 1ndwualS(2O23 - £4,980 to 7 IndidUal5) 26
ROYAL ANTHROPOLOGICAL INSTITLrrE OF GREAT BRITN AND IRELAND Nots$ to th? financlal statements-yearendgd 31 tl•¢omb•r 2024 14 Expondltsrg Dlv•ct costs staff Support 9ts Total Total PofLy and ProfiEe FelluY¥5hip Membershlp Puuicstlons RAI Gollection Library Educallon Progr8mme Toial •xpendlturo 50,871 25.608 157.098 173,ng 246 101417 80,105 36.099 52,138 20,053 201,11 472.773 196.S34 85,773 380,383 293.787 36,646 334.301 1,329,404 153,733 76,862 379,005 237.399 48,740 201,613 1097,382 187,166 67.910 18,59J 88.477 40S,392 43,923 451,239 15 support¢ts of Gemral GoNTrnanco •upwt Total Tolal Staff Pr8mlses G•n8ral office Auditorfs Temuneffjti¢J) Othèr èxp8nses 860.165 21g82 1ST2) 526 888.691 2&520 IW396 300 866 1 062 773 1g4,3S2 22,387 95,864 5,920 1,708 320 231 Staff tThr Staff vÈman 573 886 2l203 16 Employ• The average numb$r offrjlkb.me nplOyeeS. analy8ed by fijrtbon was.. Numb9r ofompltsy•¢$ Publicaliong Library RAI Co1ctIOn Education othèr térs 11 12 Employmgnt eosts Salaries Social 8écty costs Pan8lon costs S57,421 38,890 53.008 649.319 505,343 37,522 50,709 593.574 Payments wpre made in the year amounts"rvJ to £55.(X)O in Mpe¢t oftgmiinaiion payinents and £7.091 in respect of payment in IU of noti¢%. AJI tsmiinakn'on costs incurr&l durirKJ th8 year, no pSlo ot the y&arend. The number of employ8as annual remUrrati0n w8S £80,000 or morè Trh*r8". £QO,OOQ-£100,000 £100,OCXL£I10.QQK) The key management rsonnel is made up of th$ fr)11(Mng positions 7th1n the organi5ation'. CEO, Assislgnl Diredor (Finance & PerscKLn81l and Assistant reCtor (Administration) Salaries Social S8eurity Costs Pension costs 174338 16.358 20,068 210.764 172,808 16.186 21,059 210 583 17 Membgrs of th• Counell No members of thè Council recEived remureTati¢)n during tho year12023'.£2.5(K)l . and £7512023". £1121 expenses w6r6 paid to one 12023: 11 CouneAI member for travgl oynsgs. 27
ROYAL ANTHROPOLOGICAL INSTITUTE OF GREAT BRttAN AND IRELAND Nots$ to th• flnanclal statement8-yearended 31 Dtt•mber 2024 18 Tanglble flxed assets Fum ad Equlwert Artsssore5 Totsl Cost Balance as al 1 January 2024 Additions Balance as at 31 Decemt*r 2024 9,801 52.023 20,008 741,B32 1,356 743,188 669.W1 52.023 21,384 D•pr•elatlon Balance as at 1 January 2W24 Chargg forthe year Balancè 8s at 310ecember2024 48.79B 19,630 817 20,347 68,328 1,301 49.282 Not book value as at 31 December 2024 0$ at 31 December 2023 669,801 669.801 2,741 3225 1,017 478 673.559 673.504 Freehold propeity Th8 freehold propefty L8 userl as IW$. Chartsble acthilties Rental income 17% The entire propety Is accounted for as propertywithin tsngiblg fixed a$$gts as Ihe reSUng portion8 Uld not be sold 8eparatsly, and the fair value of the investrnenl property ¢omFX)nanteannot be measured reliably. Herltage a88ets At 31 December 2024 these wam f8presented by the followng: Fllm anrl vldeo libTrryof th• Ethnographle Film Commftt•• This is maintained at Comwntrr¢K41 Film I Vld80 Storage Ltd Lltsrnry The exclusive bDng rfghts of the Insbtule'8 fÈlkAYs and student felk)ws in the greater part of the Anthropology Llbrary and Research Centre at Ihe Brrtish Museum have an appreaable indirect valuo lo the InStjIe, There are over 1W,000 books dating from the 186Us. eith9r in thg Srilish Uuseum or the Fagg Lsbrary in Frkroy Street Photogtaphic collection, woths Of Ort manuscrfpts andarchfves There are apr0MatelY 1(,000 pholgraphi¢ rtems dating from Ime 1880,5. appr0M9t& 51X) manuscript dathig from the late 19th Century and over 30,fKK) it8ms in the in house archive dating from our foundlng in 1832 11 is not consldered appruwiate to attrbuie a sp1¢ value to ihesè hwit8gè assats due to the S[qnGanI cost that would be incuThed in e3klSln 8 vajuabon whith WoUj far outhtgh the b8nefftto users of the accounts. 19 Freehold Investment property 2024 2023 Fund value at 1 January 2024 Revaluation (per12) Fund value at 31 Decèmbèr 2024 1,075.000 1.067,5 7.500 1,075 000 1,075 000 In 2013, the Insthute purchased a interest in 8 fr8ehokl prop8ty and the remaining 40% is owned by Emslie Horniman Anthropolog11 Scholarship Fund. In 2017. iwo fiJrtheT Ptoperb"e5 We purchased,. onelg shar•d 50.'50 th the Emslie Homiman Anthropologlcal SChorShip Fund and the ¢thw propety is owned I°/D by the Institute. AJI propertie5 are held as a tong térm investmeni and the Sncome is sharwj in proportton to rhe ownership. The fairv81uè ofthè invèstment propety has been deteTrIned by tNstees on an open market basls ty Tefvrence to market e¥ence of tran58cbon prices for simiLar properbe5 at the reporting end dHI¢. 28
ROYALAKfHROPOLOGICAL INSTITUTE OF GREAT BRITAIN AND IRELAND Not89 to thè flnanclal gtst8mwts. yèarended 31 Daeambw 2024 2D23 20 Llsled Investrrtents Fund value al 1 January 2W24 Addllions at cost Investment Interest re-lnvested Change In ihe value in the year Fund value aI310ecemr 2024 1530.878 2.847,075 450,000 29,283 204,520 3.530.878 47N79 117,817 3 696.174 21 Dgbtors Trad8 d6btors Taxatlon Prepayments 185.588 4.367 19,133 209,088 167.547 20.610 188.157 22 Credltor¥ amounts falllng dug wtthln ¢xw ye•r Esperanta Trustfor Anthropologlc81 RÈsè8rch Erll51ie Homiman Anthropological Scholarship Fund R8dclMf8 Brown Memorial Fund Income recelved In 8dvance Trade creditors Taxation and social Becurity other credfLors 198.572 126,887 8,935 41300 49,394 12,162 65,236 502,486 157.873 1C15.429 8,612 39.344 84,573 10.443 26,96e 433,240 23 D¥TrOd Incoino Arisin9 from Deferred Income 39,344 Deferred Income is Includlng in the flnandal statements as follcN CurroTrt Llabltiues 39,344 Movements in thè year D*rretJ incorlle as 811 January 2024 Released trom previou¥ periods for Anthropological Index Onllnè Released from previous periods for Film Fe$lal Released from previous periods for Course Fees Released from previous periods for Membershlp Income Ralèased from pr8vlous p8rlods for R•nt Released from previous periods for Gr8nts Rèsourc•s def8rréd In th8 yèar 60,828 16,2551 19,5751 15,5751 (9281 (3,8291 128.0891 (9231 (27,5181 {1,4781 I16,0) 139,3441 42.3 Deferred income as al 31 December 2024 42.3C(I 139,344} 24 coneted and assaclated charllle8 E8perant8 Tru81 for Anthropological Re8ear¢h on a three year rotation hoVer they are automaticalty re•appointed Un$6 they choose to retire or T85igrF. Atlhe year end, the Institute owed the Esperanza Trusl for Anlhropologul Research £196.572 12023.. £157,873) in sPect of funds pooled 1n the Institute to MamIse the investment return. The Esperanza Trust devotes about haw its in¢omè to th8 Publlc Anthropology Fèllovtshlps and the other haWto meeting special mqu8sts from Ihe Council ofthe Institute, under a clause in its tnjsl deed which provvjes for this procedure. The ISf$ in(xbtHe is provided by on Investment pioperty and investments in managed funds. 29
ROYAL ANTHROPOLOGICAL INSTITufE OF GREAT BRITAIN AND IRELAND Nots6 lo the financial statements. year 8nd8d 31 Dgcemb8r 2024 24 Connected and a880¢iatsd ¢harftlo8 Icontlnuod) Emslie Hornlman An1hrO0glCal Scholarship Fw Th6 InstilLrte nominates the truslegs on a rggular rotation in accordan with the twsl daed. Thè Instilute has knll control over tho management of the assets of the fijnd. At the year erkl. th8 Institut8 Ced the Emslie Horniman Anthropdogical Scholarship FurKI £125,487 {2023." £105,429) in r&speci of fiJnd8 pooled w(thin the Instittrte. The Emslie Homiman Fund 18 exdugivèly d8VOt8d to providing Bcholarship grarTts for siudents. The trust's inty)me is provK4ed by a vhK)Ily investment property. Raddwffe Brown Memoria Fund The Institute 8cIs 88 Custodian trustse in accordarKe Mth the tNst deed. The trust has four managing trustee8, th8 Instituta appoints managing trustees. the other managing trustees are appointed by the Association of Social Anthrwlojists who retain a casting vote. 1 Tntstees are on a three year rotstion. Al the year end. the In51itrrte owed the Raddiffe-8rrA¥n Memorial Fund £8,93512023. £8,612) in respoct gf funds FKoled ithln the Insltiute. The Raddiffe-Brown Memorial Fund 18 exdusively devot to provlding scholarship grants f studonts. The busvs incL¥ne is provided by inve¥1MlS In managed frunds and a grant frfyn the Satusc4na TNst 25 Statement ol fund• Balarte at Ithmmltyj 01-J8n.24 Incom OutyolLTrg Ful3 rceB TrofftBfèrB BAlanco•t )lc-24 RtrIcted funds Curt Bequest Fd Education Fund Wiliam CamF811 Root Fund wleY Firth FJnd Sc4Mett Fund J.B. Donne Prize FuThJ Hptry Watt 8urs&ry Fw CDOte L8ke Ba&ll Wright Fund R Wwbner Fund Im Restorab"on Fund Bi080ci81 Anthropdogy Swety FI Blolog1¢8'. Ailhropology Grznts knihiopdoJ15ts' FJnd tr Uryent AnlhrowbgKl Research IU&4) Van de Ven CI¢¥JU n9 Prject W B Fagg Fund EsP¢rra AlocatK)n AmHury Talbot Prty fund Wellcom8 Madal FuThJ COST 33,160 2.258 30,583 37.4e8 15,013 25.628 18.202 36.331 1.0 5,261 3.1C6 4.789 5.344 26.000 76.639 813 733 (1,100) 35,864 30,563 37,468 15,713 25,628 18,350 36,025 1,006 5.506 3,251 4,789 30,539 78,711 402 803 17001 891 129 76 116 69 (8051 (1.5001 1,879 1.693 29,887 2.975 1,034,257 29,887 2,975 1,071,308 25.358 22,851 111,158} 116.0001 14811 16,1 24,518 801 542 25,180 50,0ty) 50.000 10,859 64.265 1,395,0( 158.523 30,561 185,172 196.916 27,541 1,514715 Deswdnat fiJnd8 FW Asaets Fun¢J Property Maintwxce FurK Llbw & P¢chNe Reswe Fund Webwts Deveknpment Fund Ccrfe¢nce Fu Firth BeqLSt Fund 1.748,504 100,000 17,QOO ,000 40,000 14,101 2,009,605 55 50,000 1.748 559 150,000 16 879 47,200 40,000 14,009 2.016,647 {1211 142,8001 312 312 750 43,671 50,055 Other ¢harltsblg funds 1,927,824 1.151,776 99,832 89.984 1,188.817 50.055 2,030,524 Total funds 5,332,435 1,310.299 130,739 117,817 1,329.404 5,561,886
ROYAL ANTHROPOLOGICAL INsTuTE OF GREAT BRITAIN AND IRELAND Note¥ to th• finarKlal ¥tatgm8nts. year ended 31 DBcember 2024 26 Reslrlcted funds The Curf Bequest Fund is based on a teqt by S3mud Matthws Curf and was established in 1954 to fund U)È Curf Essay pri best essay relating to the results or an8lysls ol anrolIoglCa', w)rk. The Education Fund represents rrK)rw rwsed to the RAI'S eLOn outreach pryramme. The W Campb811 Ro)1 Fund is based on a b8que5t by PauliT Root In 1979 in memory of her latè hu8band Prof8850rWilliam Carnptll RcoL a MestrAmerican arthaeologisL Thè incM& of ttw func¢ Is to b8 us&J for dtscretsonary SpendIr by the Inslthrte. The Weley Fith Fd W4$ gffted by Sir RayTncnd and Laoy Firth in 1977 to ald Socla Anthropdcuy and is Ltsed to fijnd the ann Fith Award. The Starlètt Epstein FuThJ 8 gifted by T SOtt Epsteln In 1985 and is used lo lund r680arch applications in thfol. The J.B. Donne Prize Fund was established in mOry of the J. B. DwnÈ lo nd 8 biennial prize for th8 best essay addressing sorne aspect of the knthropdogy ol ArL Tl Harry Walt Bursary Fund was e8taNishèl In 1989 to pay atravel tyjrsary lo international ethnogwhl¢ filrnmakers V+T)uk1 not 01$e be at4e to altend our film festiva. Coot& Lake Donaby ty the Coote Lake farnity to fLmd stsff M1[$ on Ihelr retirernenl. The Basil Wright FLnd was thna in 1986 by Robwt Gwdnwto fuThJ a Uennial film prize, in the irtero$1 ol furthering a cyNKem foT humanity and in ¢d¢r to acknoge the evir8tlva fulty offfilrn as 8 vray ofQJnmu(tirj that0)nrn to olhwB R Werr Fund Donated ty R Werbner and supports a small prize at Ihts Fllm Festival Film Restorab'on Fund Donated ty the Guiness Farnity to restore film Biosoc4al Anthropology Soclety FLmd Funds received from BiosLxa Anthro. Society to support the dl8dplln8 of Bi05(wl Anthro( Biologicd AnthrO9Y Grants Provhyes sm851 gT8nts rarth in B(J11 Anthropology Th? Anlhropotogists, Fund for Urgent Anthropological Resaarch IUSAI Iftxjnding sKN)nsor Dr Ge£ AppelD wa5 cted to manage a programme of fd1ow&hips. in supportof ethrwraphic research on cuThenVy threatened indigenous ¥Aes. ojltures and laruages. Van de Ven cataloguing project was set LP in 2018 ftom 8 legacy wt of1h8 ArK1n¢ Van derven 8Stale to pay for the cataloguiro ofthe Van de Ven thwion,. W B Fagg FurKI fijnds reca¥ from theWB Fayy Tmst to supixytlhe RAI Collection at Ffcroy Street and various otrer projects. The Esperanza Al¢xat' holds the fvnds allo(*t8d by EsperaEa Trust to RAI activthe5 The Amaury T81bol Prlze Fund as eststjished in memfjy of thg Lqts Percy Amaury Talbol to fvnd an annual wze forthe best vth on Anthropology ofAlri¢x The COST grant orant from European Ccvjperation in sa'en and Technology was awarded to pay fo.. the o)st of nurknring a netrrtik ofjunior expert itresses al$$ the Wer Eurcpean wea 31
ROYAL ANTHROPOLOGICAL INSTrruiE OF GREAT BRITAIN AND IRELAND Notes to the financlal gtatements - yoar endfjd 31 December 2024 Restricted fund$ (Cont'dl Deslgnated Funds The Fixed Assets Fund vrds established to hold the In8titute's fixed assets and investment propety a5 described in notes 20 and 21. Property Maintenance Fund was sd vp to build up reserves for any fuiure propety maintenance requirements on So Fitzroy Street, which usualty occur every 10 years. The Library & Archive Reserve Fund was asta15hed to 8SSlSt the Library in expanding ils book collectk)n and lo fund the wrrting of the history of the Institute. Website Developmant Fund wa5 8Stabli8hed to provide f0rfvlU expanditurè on our web presence. Conference Fund has been e5tsbli$hed to provide forfulur8 conf8rence expendilure. The Firth B¥ue8t Fund 1$ bas1 on a bequest by Sir RaOnd Firth, who died in 2002, and is to ed to supwl the annual Firth award. During 2024 £50,10 was transferred from unrestricted reserves lo thè Propety Maintenance Fund to allow for projected lulure 8xpenditur8 and infiation Following development of the Film Festival and the main Ise5 in 2024 £42.800 was released frc4n the Websit8 Development Fur 32