OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-12-31-accounts

Company number: 615025 Charity number: 209425

The British Institute of International and Comparative Law

Report and financial statements For the year ended 31 December 2024

The British Institute of International and Comparative Law

Contents

For the year ended 31 December 2024

Reference and administrative information ....................................................................................... 3 Trustees’ annual report ................................................................................................................... 4 Independent auditor's report ......................................................................................................... 21 Statement of Financial Activities (incorporating an income and expenditure account) ................... 25 Balance Sheet ................................................................................................................................ 26 Statement of Cash Flows ............................................................................................................... 27 Notes to the financial statements .................................................................................................. 28

The British Institute of International and Comparative Law

Reference and administrative information

For the year ended 31 December 2024 For the year ended 31 December 2024
Company number 615025 – Registered in the United Kingdom
Charity number 209425 – Registered in England and Wales
Registered office & Charles Clore House, 17 Russell Square
operational address London, WC1B 5JP
Trustees Trustees, who are also directors under company law, who served during the year and
up to the date of this report, were as follows:
Chiann Bao
Guy Beringer
Shehzad Charania MBE
Dean Curtis
Mark Gregory (from 11/12/2024)
Naomi Hart (to 26/6/2024)
Katherine Jones (from 26/6/2024)
Alex Just
Ndanga Kamau (from 11/12/2024)
Sorcha MacLeod
Professor Iain MacNeil
Habib Motani
Elizabeth Perks Chair of the Finance & Audit Committee
Eve Salomon CBE Chair of the Board of Trustees
Professor Dan Sarooshi KC (to 26/6/2024)
Audley Sheppard KC (from 11/12/2024)
Rupert Skilbeck
Professor Elies van Sliedregt
Key Management Professor Spyros Maniatis Institute Director
Personnel Murray Hunt Director of the Bingham Centre
(to 31/3/2024)
Deepa Craig Director of Finance and Operations (from
1/4/2023 to 31/3/2024)
Ben McGrath Interim Director of Finance (1/4/2024 to
27/5/2024 )
Malgorzata Rumun Director of Finance (28/5/2024 to
28/2/2025)
Patricia Ambrose Director of Governance and Operations (from
1/4/2024)
Bankers CAF Bank Limited HSBC plc
25 Kings Hill Avenue, Kings Hill 39 Tottenham Court Road
West Malling, Kent, ME19 4JQ London, W1T 2AR
Auditor Sayer Vincent LLP
Chartered Accountants and Statutory Auditor
110 Golden Lane, London, EC1Y 0TG

3

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

The Trustees are pleased to present their report and the audited financial statements for the year ended 31 December 2024.

The reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory and company law requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

The British Institute of International and Comparative Law (BIICL, the Institute) is an independent charitable research body. Our key purposes are to develop and advance the understanding of international and comparative law in the UK and around the world, and to promote the rule of law in national and international affairs. Through our work, we seek to improve decision-making on law and policy issues, and so have a positive impact on people’s daily lives. We are a hub for new ideas, bringing together governments, international organisations, judiciaries, practitioners, and business.

Our mission is to contribute towards informed, independent thinking in law and decision making for a global community and to promote the rule of law at the international and national level.

Our vision is for a just, peaceful, and safe world where the rule of law is upheld and human rights respected, underpinned by resilient legal systems that respond to social, economic, technological, and environmental change.

Our core, shared, guiding principles are human rights, the rule of law, tolerance, and fairness. We strive to be a diverse and inclusive organisation.

We conduct research, offer training and events, run specialist fora, and publish a top-ranked academic journal. We are an outward looking organisation, with specialist researchers drawn from multiple jurisdictions and across legal fields, from human rights, the rule of law, climate change, and migration to artificial intelligence, dispute resolution, trade, and competition law.

We aim to make a unique contribution as an independent and authoritative voice on international and comparative legal issues by:

4

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

BIICL has no recurrent core funding. We receive funding for our research and other activities from a wide variety of bodies, including research councils, law firms, national governments, international and regional organisations, private trusts and foundations, and non-governmental organisations, as well as BIICL members, training delegates and event attendees. In many instances, our research projects have more than one funder.

BIICL’s Strategy 2024-2026 identifies the following enabling strategic priorities:

The role of law in tomorrow’s
world		 Global
awareness
of
the
impact of our work		 A
robust,
fair
and
sustainable organisation
Nurturing talent Increasing visibility of the
impact of our work		 Investing in our staff
Focus on developing research
that meets emerging realities
and needs		 Promoting our important work Developing a resilient
organisation
Continuing to develop and
share expertise		 Fostering meaningful and
engaged networks		 Embracing technology

The Trustees review progress against the Strategy on a regular basis to ensure our activities are consistent with our aims and support our public benefit mission. The Strategy is underpinned by an annual Business Plan which identifies key priorities for that year. This report considers what BIICL has achieved during 2024 and the outcomes, impacts and benefits of our work.

Principal Activities

Membership

BIICL membership is open to all people, both in the UK and around the world. Our members come from: legal practice (including solicitors and barristers); academia (staff and students); the judiciary; corporations and other commercial bodies; government and non-governmental organisations; and members of the wider public who are interested in the many aspects of international and comparative law.

Members benefit from access to BIICL’s research outputs, as well as opportunities to contribute to specialist discussion groups and to network with the diverse range of people and organisations with whom we interact. The diversity of BIICL's membership, as well as the many non-members who attend our events, and our ability to engage across a broad range of international and comparative legal issues, ensures that BIICL remains a relevant and essential institution. We also convene Fora of experts in four areas (Human Rights Due Diligence, Competition Law, Investment Treaty Law and Product Liability).

Research

BIICL’s research is co-ordinated via three Centres: International Law; Comparative Law; and the

5

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

Bingham Centre for the Rule of Law. From April 2021-March 2024 the Bingham Centre hosted the UK’s Modern Slavery & Human Rights Policy and Evidence Centre (the PEC) which was supported by funding from the Arts and Humanities Research Council. The PEC moved to a new host institution, the University of Oxford, from April 2024.

Our focus is primarily on practical and applied research, based on strong conceptual foundations, which offers examples of good practice, recommendations for future improvements and seeks to have an impact on law and policy. The research often crosses traditional boundaries of law, integrating private and public international law, for example, and engaging with national, regional and comparative law. Our research is always independent, irrespective of its funding source.

Events and Training

BIICL organises an extensive public events programme covering a broad spectrum of current legal topics within the areas of our expertise. These events typically include full day conferences, shorter seminars and lectures.

We offer a range of training activities to the public to provide information, practical assistance and capacity building to governments, institutions, firms, corporations, groups, individuals and others. During 2024, we have offered short courses on a range of topics including Law of the Sea, Public International Law, Business & Human Rights, Climate Change Law, and Cultural Heritage.

Publications

BIICL’s main publication is the International and Comparative Law Quarterly, which is produced by Cambridge University Press and is recognised as one of the leading journals in its field. BIICL also occasionally publishes books, mainly of our own research, as well as some by other experts in our fields of work. Most of our research projects also produce final reports, many of which are publicly available to download for free from our website (www.biicl.org).

Volunteers

BIICL offers flexible, part-time and short-term opportunities for people to volunteer for the charity (typically postgraduate law students) and to assist in our research and related activities. We aim to offer interesting and developmental opportunities that include training and skills development.

Public Benefit

The Trustees confirm that they have paid due regard to the public benefit guidance published by the Charity Commission in deciding on BIICL’s activities. In particular, the Trustees consider how planned activities will contribute to our aims and objectives.

BIICL considers that its activities are of public benefit in at least the following ways:

6

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

Some specific examples of the provision of public benefit through the activities carried out by BIICL in 2024 are provided below.

Achievements and performance

BIICL’s main activities and beneficiaries during the year are described below. All of our charitable activities focus on international and comparative law, and the rule of law, and are undertaken to further BIICL’s charitable purposes for the public benefit.

Membership

BIICL membership (comprising both individuals and organisations) was 328 at the end of 2024 (2023: 361). Membership income was £40,881 (2023: £41,717).

During 2024, we continued to support four Fora in the areas of: Human Rights Due Diligence; Competition Law; Investment Treaty Law; and Product Liability. All of our Fora make an important contribution to the work of BIICL, provide opportunities to explore current issues and prompt further research. Total Forum paying membership in 2024 was 115, comprising 93 organisations and 22 individuals (2023: 131, comprising 97 organisations and 34 individuals). Forum membership income was £284,089 in 2024 (2023: £287,178).

7

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

Research

BIICL continued to develop its active and responsive programme of practical and applied research during 2024. We received funding from several external organisations to support a diverse range of research topics, including work in the following areas:

BIICL was also pleased to continue hosting three Ukrainian researchers via the British Academy/CARA Researchers-at-Risk scheme.

A major development during 2024 was the end of BIICL’s five-year term as host of the AHRC-funded Modern Slavery and Human Rights Policy and Evidence Centre (MSPEC). The Centre was successful in obtained continued funding and transitioned to its new host, the University of Oxford, in March 2024.

BIICL’s Annual Reports provide further details of our achievements and research impacts. Copies may be downloaded from our website (www.biicl.org).

Events and training

Event topics in 2024 were wide-ranging and included legal issues related to: constitutional reform in the UK; benefits and challenges of a rules-based international order; unlocking investment in Ukraine; AI dependencies; restitution of cultural heritage; and the relationship between sports and competition law. Two rapid response events were held during the year: one to discuss legal issues relating to the South Africa vs Israel case at the International Court of Justice; and one on the advisory opinion by the International Tribunal for the Law of the Sea (ITLOS) on the harmful effect of greenhouse gas emissions on marine ecosystems and marine biodiversity. Launch events were held for the final report of the Independent Commission on UK Public Health Emergency Powers and for the Global Toolbox for Corporate Climate Litigation. BIICL Vice-President, Judge Joan Donaghue, spoke about the Challenges and Future of International Adjudication for the annual Weinrebe event.

Our programme of online and hybrid short courses continued to grow and diversify, including sessions on: Business and Human Rights; International Migration and Refugee Law; AI Governance;

8

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

Cyber Operations and International Law; Transitional Justice; Climate Change Litigation; International Cultural Heritage Law; Energy Law; Foundations of Public International Law; and Law of the Sea. Advanced training workshops included sessions on Corruption, and Arbitration and Universal Jurisdiction.

As well as BIICL’s training courses, three MOOCs are available in the areas of Citizenship and the Rule of Law, Rule of Law and Democracy in Europe, and International Investment Law and Dispute Resolution.

In 2024, BIICL’s income from events and training courses was £221,147 (2023: £291,952). There were 57 events during the year (2023: 58) and 11 training courses (2023: 19).

Publications

The International and Comparative Law Quarterly (ICLQ) continues to attract a very high standard of scholarship from around the world in the fields of public international law, private international law, comparative law, human rights law and European law. The journal is managed by an active Editorial Board of senior academics and retains its reputation as a world leading academic legal journal, with a high impact factor. A strict peer review system is operated to ensure that articles are selected purely on merit. This reflects the independence of the ICLQ and BIICL.

Cambridge University Press manages production, marketing and distribution of the ICLQ and provides additional support. Overall income from the ICLQ was £217,197 in 2024 (2023: £251,230).

In addition to the journal, BIICL occasionally publishes its own books. No new priced titles were published in 2024 (2023: 0). In 2022, the Board of Trustees took the decision to cease hard copy book publications and to convert the most recent titles to accessible ePublications which are available on the Kindle platform. Income from e-book sales in 2024 was £8,524 (2023: £ 7,374).

BIICL also produces working papers, research reports, responses to government proposals and other submissions, many of which are freely available to download from our website. Staff regularly publish their own research in other academic journals and books.

Public Benefit

Much of BIICL’s work makes an active contribution to our public benefit mission. Our diverse range of research, events, training and publications continues to enable increased public knowledge and awareness of important issues of international law, comparative law and the rule of law. We list below some selected examples of the impact of our work during 2024:

9

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

We measure our overall performance against the strategic aims and objectives set out in our Strategy and Business Plan. Quarterly updates on progress with the annual Business Plan were presented to the Board of Trustees.

Beneficiaries of our services

Beneficiaries of BIICL’s research and other activities are diverse and include: legal practitioners; academics; the judiciary; corporations and other commercial bodies; government and nongovernmental organisations; and members of the wider public.

Financial review

The Statement of Financial Activities shows that overall income decreased during 2024 by 39%, from £5,632K in 2023 to £3,458K in 2024. Much of this decrease was due to the transfer of Modern Slavery PEC funding to its new host organisation. The net decrease comprises a 2% increase (£22.9K) in Unrestricted Fund income and a 52% decrease (£2,196K) in Restricted Fund income.

Total expenditure decreased by 20% to £4,307K (2023: £5,527K). Unrestricted Fund expenditure decreased by 3% (£42K), and Restricted Fund expenditure decreased by 30% (£1,178K).

The Institute has a surplus for the year on Unrestricted Funds of £400K (2023: deficit £111K) and a deficit on Restricted Funds of £1,211K (2023: surplus £200K). Total fund balances decreased by £810K (2023: decrease of £89K) to £1,833K (2023: £2,644K). This was after taking into account net unrealised gains on investments and foreign exchange losses of £38K (2023: net loss £16K).

Restricted Fund income has been recognised in accordance with the current Statement of Recommended Practice Accounting and Reporting by Charities (the Charities SORP). This treatment may mean that income is not recognised in the same period as the related expenditure. Over time Restricted Fund income should match expenditure, although significant surpluses or deficits may occur in certain years depending on the timing of income and expenditure.

10

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

The 2024 income on Restricted Funds primarily relates to:

The Trustees reaffirmed BIICL’s investment policy, which seeks to produce the optimum total return, balanced between income and capital, from its investment portfolio. The performance of our investment funds is monitored by the Finance and Audit Committee for the Trustees. Our funds are invested in an investment fund for charities, which provides us with a suitable balanced portfolio coupled with ready liquidity.

The average yield on investments in 2024 was 2.5% (2023: 2.8%). The average (unrealised) movement in the market value of investments in 2024 was a 9.4% increase (2023: 4.8% increase).

Pensions

During 2024, BIICL participated in two funded pension schemes: one defined benefit scheme and one defined contribution schemes. Further details are provided in note 18 to the financial statements.

11

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

Principal risks and uncertainties

The Trustees operate a formal risk management process to assess business risks and implement risk management strategies. This involves identifying the risks faced by BIICL, prioritising these in relation to impact, likelihood of occurrence and overall risk level, and identifying mitigating factors and ways to manage the risks. In addition, all risks are owned by a member of BIICL’s management team. This risk register is regularly reviewed by the Finance and Audit Committee and by the Trustees, to ensure that it is kept up-to-date. As part of this process the Trustees have reviewed the adequacy of the Institute’s current internal controls and the costs of operating particular controls relative to the benefits obtained. Procedures have been established for reporting failings immediately to appropriate levels of management and to the Board of Trustees.

The Trustees consider that the lack of recurrent core funding represents a significant risk to the Institute. To mitigate this risk, the Trustees continue to seek core funding as a key part of our fundraising activity. During 2024, we continued to secure donations through our Appeals to assist with future growth of our strategic priority areas and to contribute towards major refurbishment costs.

The Trustees are mindful of the risk that the lack of recurrent core funding could present a potential risk to the continued going concern status of the Institute in future years. They continue to adopt a prudent approach with regard to income streams that are volatile or unsecured, and have identified mitigating actions which could be taken should the need arise. As a result, the Trustees consider that there are currently no material uncertainties about the Institute’s ability to continue as a going concern.

All fundraising and other income generation activities abide by our Guidelines for Ethical Funding.

In addition to our fundraising activities, we continue to diversify and actively seek new sources of income for our research and training activities.

Reserves policy

Free reserves available for use by BIICL are deemed to be those that are readily realisable, less those funds whose uses are restricted or designated for particular purposes. The calculation thus excludes funds of £1,204K (2023: £1,296K) invested in property and other fixed assets that will continue to be used in the day-to-day running of the Institute.

As a matter of policy, each year the Trustees review the value of the reserves retained in the form of investments, cash and cash equivalents not held for restricted purposes or designated projects. The Board of Trustees considers BIICL’s exposure to major risks in terms of their likely impact on its income sources and planned expenditure in the short to medium term, as well as assessing the best way to manage such risks.

12

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

During 2024, Trustees tasked the Finance & Audit Committee to review BIICL’s reserves policy to ensure it remained fit for purpose. Following this review, in March 2025 the Board approved a recommendation from the Committee to adjust the target for free reserves from 50% of the previous year’s audited figure for total unrestricted resources expended, to a range of between 4-6 months of unrestricted expenditure. This change took the following factors into account: continuing uncertainty and volatility in income streams; the need to ensure there were sufficient funds to cover any deficits in unrestricted funds; recognising that some restricted projects were paid in arrears and had to be covered by unrestricted funds in advance of payment; and the fact that BIICL had no longterm commitments to beneficiaries which would necessitate a higher target.

The n ew target for free reserves is, therefore, within a range of 4-6 months of the year’s audited figure for total unrestricted resources expended, to recognise the risks relating to lack of recurrent core funding and to enable the Institute to cope with any emergencies. As at 31 December 2024 this target equates to a range of £476K-£714k (2023: £490K-735K).

The exceptional expenditure on major building refurbishment in 2019 and 2020 represented a substantial investment in our office and event space in a building that had had no major improvements since it was built in the late 1970s. Trustees saw this investment as necessary to bring the building’s services and infrastructure up to 21st century standards. As a result, there has been a substantial increase in BIICL’s fixed assets and a major decrease in free reserves.

While we have excluded fixed assets when calculating our free reserves in line with Charity Commission advice, our liquid assets have not in large part been committed to the fixed assets. As a consequence, applying this usual treatment does not fairly represent the underlying reality for the organisation. Our calculation of free reserves, therefore, takes into account both the value of fixed assets and the total value of a loan from the University of London of £762K (2023: £847K) to repay the full cost of BIICL’s part of the building refurbishment.

At 31 December 2024, BIICL’s free reserves are calculated as follows:

Unrestricted funds at 31 December
Expendable endowment fund at 31 December
University of London loan
Less: Investment in tangible fixed assets for the Institute’s use		 2024
Total
£K
851
122
762
(1,204)
531		 2023
Total
£K
451
122
847
(1,290)
130

In 2023, the BIICL Trustees reviewed the endowment funds in light of the major redevelopment of our premises. After serious consideration, the Trustees resolved that the best use of some of these original endowment funds for the Institute was to invest them in this programme to enable the future work of the Institute in the years to come. The Bernard-Sunley Foundation agreed to the use of the

13

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

endowment funds for this purpose, and correspondence was received from the Charity Commission approving this transfer. As a result, a sum of £398k was transferred to unrestricted funds on 25 March 2024. In doing so, the Trustees have noted their desire to recognise the Foundation in the naming of an appropriate part of the BIICL premises.

Trustees recognise that rebuilding and sustaining free reserves remains a key priority. New income generation is being actively pursued through a variety of measures including income growth from training activities, research funding, consultancy services, fundraising and international partnerships. A balanced and realistic budget has been set for 2025, with close monitoring of expenditure and, if necessary, the implementation of cost-cutting measures.

Fundraising

BIICL undertakes a peer-to-peer approach to fundraising which is governed by our Guidelines on Ethical Funding. We have a small, in-house Development team of four staff (2.9fte), who operate with support from our trustees, senior staff and other volunteers (typically senior lawyers or former law firm partners). BIICL is not a levy payer for the Fundraising Regulator. We do not use any external fundraisers or other commercial participators.

We have received no complaints about our fundraising activity and there have been no failures to comply with fundraising standards or regulation. BIICL’s peer-to-peer approach to fundraising ensures that vulnerable people and other members of the public are protected from any unreasonable behaviour and intrusion. Our Privacy Policy includes a section on donors and is available on our website.

Plans for the future

BIICL’s Strategy 2024-2026 provides the framework to guide and inform our future plans. We continue to adapt our events and training activities and have worked hard to maximise our research income, with several multi-year projects in progress. We have continued to develop new and existing relationships with both national and international partner organisations and universities. The contribution of our work to upholding international law and the rule of law has arguably never been more important, as States around the world struggle to find the most effective legislative responses to global challenges.

The Trustees are mindful of the risks presented by the Institute’s lack of recurrent core funding and recognise the need to develop new income-generating activities as part of the Institute’s business development strategy. This strategy includes:

14

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

Structure, governance and management

Trustees

BIICL is governed by its Memorandum and Articles of Association adopted on 2 October 1958 and last amended on 5 December 2022.

The present Trustees, and any past Trustees who served during the year, are listed on page 1 of this Annual Report, together with the Institute Director and key management personnel.

The Board of Trustees is responsible for the overall governance of the Institute and the total number of Trustees may not exceed eighteen. Trustees are in office for a term of three years and may not serve more than two consecutive full terms.

Trustees meet at least 4 times a year. Apart from the Annual General Meeting, these meetings consist of formal Board meetings, held every quarter. At these meetings, Trustees review and set overall strategy and operational performance, as well as review the direction of BIICL research, events and publications.

Effective partnership between Trustees and BIICL staff continues to contribute significantly to our success. The Board delegates the exercise of certain powers in connection with the management and administration of the Institute as set out below. This is monitored by regular reporting to the Board, and by receipt and discussion of reports by the Institute Director and other staff as required, so that all decisions made under delegated powers can be ratified by the full Board in due course. These measures ensure that Trustees have the necessary understanding for effective and informed decision-making.

Trustee Recruitment, Induction and Training

Trustees are nominated by the Board of Trustees and elected to the Board at BIICL’s Annual General Meeting. Vacancies are advertised openly to encourage greater Board diversity. Special advisers to the Board of Trustees are co-opted on an ad hoc basis.

All new Trustees receive a general induction to BIICL’s governance and operations by the Institute Director, Company Secretary and other senior staff. Training on specific matters is available, where appropriate. Sometimes this training takes the form of a presentation to the Board of Trustees by a guest speaker or a member of staff.

15

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

Finance and Audit Committee

The members of the Finance and Audit Committee are appointed by the Board of Trustees. The members during 2024 were:

The Committee met 4 times during 2024. Meetings were also attended by the Institute Director, Director of Finance, Director of Governance & Operations and the Director of the Bingham Centre.

Membership of the Committee shall include at least two BIICL Trustees (one of whom must be the Chair of the Committee). Other members shall comprise former Trustees or other independent external individuals with recent and relevant experience and expertise in finance, audit or other appropriate areas. Committee members should have no executive responsibility for the management of BIICL and no significant interests in the institution. The Chair of the Board of Trustees shall not be a member of the Committee. There shall be no fewer than five members. A quorum shall be at least three members (one of whom must be a Trustee).

Trustee member appointments to the Committee shall be in line with their Trustee terms of office. Other members shall be appointed for an initial term of three years and may serve for one further consecutive term. Appointments to the Committee are staggered to ensure some regular turnover of members.

The Committee’s terms of reference are:

Financial issues

16

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

Audit issues

Research Ethics Committee

The Board of Trustees established a Research Ethics Committee in 2015, with responsibility for the development and implementation of policy and processes relating to research ethics.

Its terms of reference are:

The Chair of the Committee is a Trustee or former Trustee appointed by the Board. Other members comprise: one other BIICL Trustee; two lay members; the Institute Director; and three Senior Research Fellows.

Advisory Panels

Advisory Panels operate in each of the main BIICL research areas, with Panel members appointed for their expertise in these fields of law.

Institute Director

The Institute Director is responsible for the day-to-day management of the Institute’s affairs and for implementing strategies agreed by the Board of Trustees. The Institute Director is assisted by a team of senior managers and senior researchers, with whom there are regular meetings.

17

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

Corporate Governance

Internal controls over all forms of financial commitments, obligations and expenditure continue to be refined to improve efficiency and as part of ongoing internal risk assessment processes. Policies and procedures are in place to ensure that performance is monitored and that appropriate management information is prepared and reviewed regularly by both senior management and the Board of Trustees.

The systems of internal control are designed to provide reasonable but not absolute assurance against material misstatement or loss. These are contained within BIICL’s Financial Regulations and Procedures and include:

All Trustees give their time voluntarily and receive no benefits from the charity. Trustees’ expenses reimbursed in 2024 were £nil (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).

Related parties and relationships with other organisations

BIICL sometimes receives grants from The International Rule of Law Project Inc. (IROLP), a US public charity established by supporters of BIICL, tax exempt under Section 501(c)(3) of the US Internal Revenue Code. IROLP is governed by its own independent Board. No grants from IROLP were received in 2024 (2023: no grants received).

Remuneration policy for key management personnel

The Finance and Audit Committee makes an annual recommendation to the Board of Trustees on the general principles to operate in relation to the remuneration of all staff, including key management personnel. In determining these general principles, the Finance and Audit Committee considers the following matters:

18

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

Once the Board of Trustees has agreed these principles, the Institute Director applies them to individual staff members as part of the annual review process. The salary of the Institute Director is decided by the Board of Trustees on the recommendation of the Chair of the Board, taking account of the same general principles.

Statement of responsibilities of the Trustees

The Trustees (who are also directors of the British Institute of International and Comparative Law for the purposes of company law) are responsible for preparing the Trustees’ 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 the Trustees 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, the Trustees are required to:

The Trustees are 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.

In so far as the Trustees are aware:

The Trustees are 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.

19

The British Institute of International and Comparative Law

Trustees’ annual report

For the year ended 31 December 2024

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 December 2024 was 328 (2023: 361). The Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.

Auditor

Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The Trustees’ annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

The Trustees’ annual report has been approved by the Trustees and signed on their behalf by

25 June 2025

Eve Salomon CBE Chair of the Board of Trustees

20

Independent auditor’s report

To the members of

The British Institute of International and Comparative Law

Opinion

We have audited the financial statements of The British Institute of International and Comparative Law (the ‘charitable company’) for the year ended 31 December 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on The British Institute of International and Comparative Law‘s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

21

Independent auditor’s report

To the members of

The British Institute of International and Comparative Law

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

22

Independent auditor’s report

To the members of

The British Institute of International and Comparative Law

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

23

Independent auditor’s report

To the members of

The British Institute of International and Comparative Law

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Joanna Pittman (Senior statutory auditor)

15 July 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

24

The British Institute of International and Comparative Law

Statement of Financial Activities (incorporating an income and expenditure account)

For the year ended 31 December 2024

Unrestricted
£
129,421
324,970
225,721
219,600
405,288
40,057
51,112		 Restricted
£
52,196
87,500
-
1,547
1,921,409
-
-		 2024
Total
£
181,617
412,470
225,721
221,147
2,326,697
40,057
51,112		 Unrestricted
£
199,359
328,895
254,546
278,490
261,863
15,073
35,034		 Restricted
£
32,522
85,000
4,058
13,462
4,123,833
-
-		 2023
Total
£
231,881
413,895
258,604
291,952
4,385,696
15,073
35,034
1,396,169 2,062,652 3,458,821 1,373,260 4,258,875 5,632,135
89,483
279,754
128,468
286,042
643,980		 33,683
-
-
-
2,845,877		 123,166
279,754
128,468
286,042
3,489,857		 119,229
299,764
111,501
144,157
794,931		 68,779
-
-
25,045
3,963,754		 188,008
299,764
111,501
169,202
4,758,685
1,427,727 2,879,560 4,307,287 1,469,582 4,057,578 5,527,160
54,131
(16,007)
(31,558)		 -
-
(816,908)		 54,131
(16,007)
(848,466)		 8,277
(15,437)
(96,322)		 8,023
(16,418)
201,297		 16,300
(31,855)
104,975
6,566
393,876		 (816,908)
(393,876)		 (810,342)
-		 (103,482)
(7,500)		 192,902
7,500		 89,420
-
400,442
450,663		 (1,210,784)
2,193,127		 (810,342)
2,643,790		 (110,982)
561,645		 200,402
1,992,725		 89,420
2,554,370

All of the above results are derived from continuing activities. There were no recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 20 to the financial statements.

25

The British Institute of International and Comparative Law

Company no. 615025

Balance Sheet

As at 31 December 2024

Note
Fixed assets:
12
13
Current assets:
14
Liabilities:
15
15
20a
Total unrestricted funds
General funds
Total charity funds
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net assets
Creditors: amounts falling due after one year
Endowment funds
Unrestricted income funds:
Restricted income funds
Capital fund
Investments
Cash at bank and in hand
Tangible assets
Debtors		 £
432,779
792,190		 2024
£
1,204,339
847,175		 £
662,247
3,112,625		 2023
£
1,295,765
794,695
2,051,514
453,251		 2,090,460
1,315,014
1,224,969
771,718		 3,774,872
2,459,858
121,532
860,811		 519,793
1,673,334
671,317
1,833,448		 761,684
2,643,790
982,343
851,105		 2,193,127
450,663
443,416
407,689		 443,416
7,247
1,833,448 2,643,790

Approved by the trustees on 25 June 2025 and signed on their behalf by

Eve Salomon CBE Chair of the Board of Trustees

Elizabeth Perks Trustee

26

The British Institute of International and Comparative Law

Statement of Cash Flows

For the year ended 31 December 2024

Drawdown of investments
Net cash provided by finance activities
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents
Cash and cash equivalents at the beginning of the
year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash flows from operating activities
Net cash used in investing activities
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets
Net income for the reporting period
(as per the statement of financial activities)
Decrease in debtors
Cash flows from finance activities:
Repayments of loan borrowings
Profit on Disposal
Move in cash held for investments
Increase in creditors
Depreciation charges
Losses on investments
Dividends and interest from investments		 £
(810,342)
100,549
(54,131)
(51,112)
(180)
229,468
(1,693,366)		 £
(2,279,114)
43,821
(85,142)
2024		 £
89,420
111,855
(15,354)
(35,034)
200,000
(382,732)
1,314,247		 £
1,082,402
204,747
(79,954)
2023
51,112
(14,648)
5,523
1,834		 35,034
(30,287)
200,000
(85,142) (79,954)
At 1 January
2024
£
3,112,625		 Other
changes
£
-
(2,320,435)
3,112,625		 1,207,195
1,905,430
792,190 3,112,625

Cash flows
£
(2,320,435)
At 31
December
2024
£
792,190
3,112,625 (2,320,435) - 792,190

27

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

a) Statutory information

The British Institute of International and Comparative Law is a charitable company limited by guarantee and is incorporated in the United Kingdom.

The registered office address and principal place of business is Charles Clore House, 17 Russell Square, London WC1B 5JP.

b) Basis of preparation

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) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually

evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. This assessment has been reached after preparing projections of the level of unrestricted reserves and cash up to 12 months beyond the date of signing annual financial statements, taking into account the financial effects of the Covid pandemic, future repayments due under the loan agreement with the University of London, general economic conditions and the future operating plans of the Institute. A worst case approach has been adopted with regard to income streams that are volatile or unsecured.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

28

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised; more information about their contribution may be found in the trustees’ annual report.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity, which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

i) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost of the activity for which the expenditure was incurred.

j) Grants payable

Grants payable do not represent grant-giving activities by the charity but relate to the transfer of third party project funding to project partners. Expenditure related to grants payable is recognised in accordance with the agreed payment schedule or time period of each grant.

Resources expended are allocated to the particular activity where the cost relates directly to that activity. The cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned pro rata to the staffing levels of the relevant activity.

Governance costs comprise audit fees and Board of Trustees meeting costs. These costs are apportioned across the Institute's activities, pro rata to the staffing levels of the relevant activity.

m) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

29

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as separate assets where they have significantly different patterns of consumption of economic benefits and are depreciated separately over their useful lives.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

20 years 3 years 5 years

o) Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value is recognised in the statement of financial activities and any excess of fair value over the historical cost of investments is included in reserves. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

p) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash includes short term highly liquid investments with a maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Other financial instruments such as loans are initially recognised at the present value of future cash payments discounted at a market interest rate, and are subsequently measured at amortised cost using the effective interest method.

The Institute participates in the Universities Superannuation Scheme (USS), a defined benefit scheme which is externally funded and contracted out of State Pension (S2P). The assets of the scheme are held in a separate trustee-administered fund. Because of the mutual nature of the scheme, the scheme's assets are not hypothecated to individual institutions and a scheme-wide contribution rate is set. The Institute 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 and, as required by FRS 102 Section 28, accounts for the scheme as if it were a defined contribution scheme. As a result, the amount charged to the SOFA represents the contributions payable to the scheme in respect of the accounting period.

The Institute also operates one defined contribution scheme. The amount charged to the SOFA represents the contributions payable to the scheme in respect of the accounting period.

30

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

Income from donations and legacies
60th Anniversary Appeal
Bingham Centre donations
Watts Appeal
Other donations
Forum memberships
Institute memberships
Sub-total for Member services
Income from charitable activities
Total income from donations and
legacies
Bingham Centre Business Network
International law short courses
Investment treaty law events
Public international law events
ICLQ journal royalties and other
income
WTO law events
Other events
Sub-total for Conferences and
seminars
Publications
Sub-total for Publications and
journals
Bingham Centre rule of law events
Funding from:
Overseas NGOs, trusts and
foundations
UK NGOs, trusts and foundations
Law firms
Overseas government departments
UK research councils
UK government departments
Companies
Other sources
Sub-total for Research programmes
Total income from charitable
activities		 Unrestricted
£
107,925
-
-
21,496		 Restricted
£
-
42,251
9,945
-		 2024
Total
£
107,925
42,251
9,945
21,496		 Unrestricted
£
112,015
-
-
87,344		 Restricted
£
-
14,204
-
18,318		 2023
Total
£
112,015
14,204
-
105,662
129,421 52,196 181,617 199,359 32,522 231,881
Unrestricted
£
284,089
40,881		 Restricted
£
-
-
87,500		 2024
Total
£
284,089
40,881
87,500		 Unrestricted
£
287,178
41,717
-		 Restricted
£
-
-
85,000		 2023
Total
£
287,178
41,717
85,000
324,970
217,197
8,524		 87,500
-
-		 412,470
217,197
8,524		 328,895
251,230
3,316		 85,000
-
4,058		 413,895
251,230
7,374
225,721
3,742
171,665
12,341
9,611
-
22,241		 -
846
-
-
-
-
701		 225,721
4,588
171,665
12,341
9,611
-
22,942		 254,546
-
194,201
12,255
37,401
9,762
24,871		 4,058
13,462
-
-
-
-
-		 258,604
13,462
194,201
12,255
37,401
9,762
24,871
219,600
75,455
-
8,900
26,483
-
72,967
206,133
15,350		 1,547
671,950
498,082
-
77,164
518,785
45,512
-
109,916		 221,147
747,405
498,082
8,900
103,647
518,785
118,479
206,133
125,266		 278,490
172,493
-
20,763
2,600
-
-
22,500
43,507		 13,462
776,810
337,726
-
-
2,758,609
188,353
-
62,335		 291,952
949,303
337,726
20,763
2,600
2,758,609
188,353
22,500
105,842
405,288 1,921,409 2,326,697 261,863 4,123,833 4,385,696
1,175,579 2,010,456 3,186,035 1,123,794 4,226,353 5,350,147

31

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

Income from investments
Bank interest
Dividends received from investments
Interest received from investments		 Unrestricted
£
21,621
11
29,480		 Restricted
£
-
-
-		 2024
Total
£
21,621
11
29,480		 Unrestricted
£
20,534
7,021
7,479		 Restricted
£
-
-
-		 2023
Total
£
20,534
7,021
7,479
51,112 - 51,112 35,034 - 35,034

32

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

Staff costs (Note 8)
Direct costs
Grants payable (Note 7)
Support costs:
- Other staff costs
- General fundraising and marketing costs
- Property costs
- Communication costs
- Other office costs
- Depreciation and losses on disposals
- Other costs
Governance costs
Total expenditure 2024
Total expenditure 2023		 Raising funds
£
110,594
39
432
169
3,461
3,098
654
3,033
1,063
623		 Charitable activities Charitable activities
2024
Total
£
2,442,599
1,426,382
-
15,109
5,907
121,052
108,345
22,884
106,072
37,155
21,782
2023
Total
£
2,944,706
812,655
1,316,389
66,446
17,413
112,744
83,373
26,630
111,853
20,387
14,564
Member
services
£
119,803
131,484
981
384
7,862
7,037
1,486
6,889
2,413
1,415
Publications
and journals
£
86,222
29,173
451
176
3,610
3,231
683
3,164
1,108
650
Conferences
and seminars
£
233,018
23,917
1,003
392
8,040
7,195
1,520
7,044
2,467
1,446
Research
programmes
£
1,892,962
1,241,769
12,242
4,786
98,079
87,784
18,541
85,942
30,104
17,648
123,166 279,754 128,468 286,042 3,489,857 4,307,287 5,527,160
188,016 299,777 111,505 169,209 4,758,653 5,527,160

Staff costs of £2,442,599 (2023: £2,944,705) include costs of support staff £769,248 (2023: £790,436).

Other staff costs comprises: temporary staff, recruitment costs, staff travel, accommodation, subsistence and entertaining, and staff professional fees, training and conference costs.

Governance costs include audit fees of £20,548 (2023: £14,565) and Board of Trustees meeting costs of £nil (2023: £nil).

33

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

5b Analysis of expenditure (previous year)

Charitable activities

Staff costs (Note 8)
Direct costs
Grants payable (Note 7)
Support costs:
- Other staff costs
- General fundraising and marketing costs
- Property costs
- Communication costs
- Other office costs
- Depreciation and losses on disposals
- Other costs
Governance costs
Total expenditure 2023		 Raising funds
£
173,203
240
2,265
46
3,844
2,843
908
3,475
695
497		 Member
services
£
188,069
88,372
3,612
175
6,129
4,532
1,448
5,541
1,108
791
Publications
and journals
£
66,641
36,222
1,344
27
2,280
1,686
538
2,061
412
294
Conferences
and seminars
£
107,910
34,635
2,039
13,591
3,459
2,558
817
3,127
626
447
Research
programmes
2023 Total
£
£
2,408,883
2,944,706
653,186
812,655
1,316,389
1,316,389
57,186
66,446
3,574
17,413
97,032
112,744
71,754
83,373
22,919
26,630
97,649
111,853
17,546
20,387
12,535
14,564
188,016 299,777 111,505 169,209 4,758,653
5,527,160

34

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2024 2023
£ £
Depreciation 100,549 111,854
Operating lease rentals:
Property 1 1
Other -
Auditor's remuneration:
Audit fee (excl VAT) 14,500 15,460
Under-accrual for audit fee in prior year 1,605
Profit on disposal of assets 5,523 -
Foreign exchange (gains)/losses 16,007 31,855

The funding provided by the Arts and Humanities Research Council for the Modern Slavery Policy and Evidence Centre and the Role of Good Governance and the Rule of Law project included funding for some activities that are to be carried out by partner institutions. Funds payable to those partner institutions are as follows:


institutions. Funds payable to those partner institutions are as follows:
St Mary's University
Public Interest Research
University of Portsmouth
University of Roehampton
Sheffield Hallam University
University of Sussex/Surrey
Aberystwyth University
University of Liverpool
University of Essex
University College London
University of Nottingham
Cardiff University
Bonavero Institute of Human Rights, University of Oxford
University of Hull
The Alan Turing Institute
University of Sheffield
Afruca
University of Twickenham
FAST		 2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2023
£
116,691
113,632
122,449
39,418
-
-
39,033
(106)
44,484
92,538
31,918
204,861
83,042
16,800
80,560
86,660
88,001
85,035
71,373
- 1,316,389

35

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
Other forms of employee benefits
Employer’s contributions to defined benefit pension scheme
Salaries and wages
Social security costs
Employer’s contributions to defined contribution pension schemes		 2024
£
2,105,766
205,547
108,992
22,294
-		 2023
£
2,552,053
225,501
133,891
33,210
49
2,442,599 2,944,705

The following number of employees received employee benefits (including salary, but excluding employer's national insurance contributions and employer pension contributions) during the year between:

2024 2023
No. No.
£60,000 - £69,999 4 3
£70,000 - £79,999 2 2
£120,000 - £129,999 - 1
£150,000 - £159,999 1 1

The total employee benefits, including employer's national insurance contributions and employer's pension contributions, of the

key management personnel were £356,754 (2023: £418,482).

The charity trustees were not paid and did not receive any other benefits. Trustees expenses reimbursed in 2024 were £nil. No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).

9 Staff numbers

The average number of employees during the year was as follows:

Member services
Raising funds (Including marketing)
Support
Publications and journals
Conferences and seminars
Research programmes		 2024
Employed
No.
2.3
3.6
1.3
2.7
28.5
6.1		 2024
FTE (*)
No.
2.0
3.0
1.1
2.3
23.8
5.1		 2023
Employed
No.
3.7
3.4
1.0
2.0
38.3
6.7		 2023
FTE (*)
No.
2.5
2.7
1.0
2.0
30.2
5.7
44.6 37.1 55.1 44.1

(*) Full-time equivalent

36

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

10 Related party transactions

In 2019 an interest-free loan of £7,113 was made to the International Rule of Law Project Inc., a non-profit organisation incorporated in the United States of America for the purpose of raising funds for the charity. The Company Secretary of the British Institute of International and Comparative Law is one of the three directors of this company. The loan is repayable at such point as funds become available and the position will be reviewed annually. The outstanding balance of the loan at the end of the year was £7,113 (2023: £7,113).

Aggregate donations from related parties were £nil (2023: £nil).

11 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

12 Tangible fixed assets

Tangible fixed assets
Disposals
Disposals
At the end of the year
At the end of the year
At the start of the year
Depreciation
At the end of the year
Cost or valuation
At the start of the year
Net book value
Additions
At the start of the year
Charge for the year		 Improvements
to leasehold
property
£
1,591,339
-
-

Computer
equipment
£
227,847
14,648
(15,454)
Office
equipment,
fixtures and
fittings
£
113,082
-
-


Total
£
1,932,268
14,648
(15,454)
1,591,339 227,042 113,082 1,931,463
330,438
79,567
-		 221,918
4,788
(9,930)		 84,149
16,194
-		 636,505
100,549
(9,930)
410,005 216,776 100,343 727,124
1,181,334 10,266 12,739 1,204,339
1,260,901 5,929 28,933 1,295,763

All of the above assets are used for charitable purposes.

The Institute assessed the cost of improvements to leasehold property made in 2019 to be £1,275,000. Additional costs of £290,167 were capitalised in 2020 in accordance with the final determination of the costs payable to the University of London.

37

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

13
Listed investments
Investments comprise:
14
15
16
Loan from University of London
Cash held by investment broker
Creditors: amounts falling due after one year
Accrued income
Loan from University of London
Fair value of investments at the end of the year
Cash held by investment manager pending investment
Accruals
Trade debtors
Other debtors
Fair value of investments at the start of the year
Prepayments
Net gain (loss) on change in fair value
Creditors: amounts falling due within one year
Taxation and social security
Debtors
Deferred income (Note 17)
Grants payable
Other creditors
Trade creditors
Fair value of total portfolio at the end of the year
(Disposals)
Additions
UK Investment Companies		 2024
£
792,832
54,131
887
(703)		 2023
£
977,478
15,354
-
(200,000)
847,147 792,832
28 1,863
847,175 794,695
2024
£
28
847,147		 2023
£
1,863
792,832
847,175 794,695
2024
£
177,538
1,801
17,736
235,704		 2023
£
554,210
1,742
14,663
91,632
432,779 662,247
2024
£
66,072
54,116
50,336
90,367
-
354,645
156,182		 2023
£
11,062
61,752
122,756
85,142
1,119,838
527,335
531,973
771,718 2,459,858
2024
671,317		 2023
761,684

The University of London loan creditor £761,684 relates to the cost of leasehold improvement works carried out to the Institute's offices in 2019. The final cost of the works was £1,565,167 and the Institute made an interim payment of £500,000 to the University during 2019, leaving a remaining creditor of £1,065,167. A further repayment of £47,500 was made in 2020, reducing the creditor to £1,017,667. The University has made a loan to the Institute of £1,017,167 at an interest rate of 6%, repayable over 10 years commencing January 2022 . In 2024, £85,142 was paid in respect to this loan.

38

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

17 Deferred income

Balances at the beginning of the year:
Member services
Publications and journals
Conferences and seminars
Research programmes
Other income
Amounts released to income in the year
Amounts deferred in the year
Balance at the end of the year
Analysis of deferred income balances at the end of the year:
Member services
Publications and journals
Conferences and seminars
Research programmes
Other income
Deferred income comprises:		 2024
£
267,840
91,849
-
170,316
1,968		 2023
£
61,580
120,557
1,675
54,629
-
531,973
(531,973)
156,282		 238,441
(238,441)
531,973
156,282 531,973
52,632
89,000
-
-
14,550		 267,840
91,849
-
170,316
1,968
156,182 531,973

18 Pension schemes

The Institute participates in the Universities Superannuation Scheme (USS), a defined benefit scheme which is contracted out of the State Second Pension (S2P). The assets of the scheme are held in a separate fund administered by the trustee, Universities Superannuation Scheme Limited. The Institute is required to contribute a specified percentage of payroll costs to the pension scheme to fund the benefits payable to the Institute's employees. In 2020 the percentage was 21.1% . The Institute is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis and therefore, as required by FRS 102 Section 28, accounts for the scheme as if it were a defined contribution scheme.

The total cost charged to the SOFA in respect of this scheme was £22,294 (2023: £33,210), as shown in note 8. This includes £nil (2022: £nil) outstanding contributions at the balance sheet date.

The latest available triennial actuarial valuation of the scheme was carried out as at 31 March 2023. 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. The assets therefore were sufficient to cover more than 100% of the benefits which had accrued to members after allowing for expected future increases in earnings.

The Institute also makes contributions to one defined contribution scheme. Contributions charged to the SOFA for this scheme represent the various contributions payable to the scheme in respect of the accounting period. The total cost charged to the SOFA was £108,992 (2023: £133,891), as shown in note 8. This includes £18,963 (2023: £17,068) outstanding contributions at the balance sheet date.


balance sheet date.
Employer contributions to defined contribution schemes
Average number of Institute members of USS defined benefit scheme
Employer contributions to the USS defined benefit scheme
Average number of Institute members of defined contribution schemes		 2024
£
22,294
108,992		 2023
£
33,210
133,891
131,286 167,101
2024
No.
1
40		 2023
No.
1
51
41 52

39

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

19a Analysis of net assets between funds (current year)

General
£
Tangible fixed assets
-
Investments
725,643
Net current assets
(317,954)
-
Net assets at the end of the year
407,689
-
19b
General
£
Tangible fixed assets
-
Investments
274,902
Net current assets
(267,655)
-
Net assets at the end of the year
7,247
Creditors: amounts falling due after one year
Analysis of net assets between funds (prior year)
Creditors: amounts falling due after one year		 General
£
-
725,643
(317,954)
-		 Capital
£
1,204,339
-
(89,606)
(671,317)		 Endowments
£
-
121,532
-
-		 Restricted
£
-
-
860,811
-		 Total funds
£
1,204,339
847,175
453,251
(671,317)
407,689 443,416 121,532 860,811 1,833,448
-
Capital
£
1,290,242
-
(85,142)
(761,684)		 £
519,793
-
-
Endowments		 Restricted
£
5,523
-
1,667,811
-		 Total funds
£
1,295,765
794,695
1,315,014
(761,684)
7,247 443,416 519,793 1,673,334 2,643,790

40

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

20a Movements in funds (current year)

Total endowment funds
Research Council Open Access Block Award
2022/3
Influencing Covid-19 legislation through Rule
of Law-based scrutiny
Endowment funds:
Bingham Centre Appeal - Phase 2
Rule of Law, Legitimacy and Effective COVID-
19 Control Technologies
Global Labor Program - Platform for
Organising by Workers for Empowerment and
Recognition
Beyond Restitution: Exploring the Story of
Cultural Objects After Repatriation
Covid-19 and the Law - Protection and
Recovery for Vulnerable Groups
Exposing Labour Exploitation in Cuba
Restricted income funds:
Arthur Watts Fellowship - Phase 2
Big Data and Algorithms
RECONNECT (H2020)
Climate Litigation and the Separation of
Powers
Interdisciplinary Study on Medical Research:
Rescuing Intellectual Property Rights in
Pandemic Emergencies from "Tragedy of the
Anticommon"
Global Perspectives on Corporate Climate
Change Legal Tactics
Protection of Intangible Cultural Heritage in
the Pacific Region
Modern Slavery Policy and Evidence Centre
Global Promotion of the Rule of Law
y
international law: Identifying common ground
among states on unlawful behaviour in
cyberspace
Sunley-Percy Rugg
Sunley-Sebag Shaw
Barnett Shine		 At 1 January
2024
£
199,131
199,131
121,532
Income and
gains
£
-
-
-
Expenditure
and losses
£
-
-
-
Transfers
£
(199,131)
(199,131)
-		 At 31
December
2024
£
-
-
121,532
519,795 - - (398,263) 121,532
207,525
33,860
-
60,660
-
334
240
(943)
-
124
97
981,580
8,374
(2,655)
2,801
108,920
-
25,951

 253,303
9,945
-
100,000
-
142,011
-
45,512
-
-
-
145,931
115,048
131,246
47,356
185,620
-
17,353		 (358,239)
(1,399)
-
(47,968)
-
(127,424)
-
(44,569)
-
-
-
(1,057,299)
(114,385)
(128,591)
(50,157)
(202,885)
-
(25,951)		 (14,061)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 88,528
42,406
-
112,692
-
14,921
240
-
-
124
97
70,212
9,037
-
-
91,655
-
17,353

41

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

20a Movements in funds (current year) (continued)

Other restricted projects
Total restricted income funds
Total restricted funds
Capital fund
General funds
Jordan Prevention and Protection of Migrant
Workers, funded by the American Bar
Association through its Fund for Justice and
Human Rights in global supply chains:
Measuring the effectiveness of home state
regulatory models on corporate behaviour
Total funds
The Immunity of State Officials from Foreign
Criminal Jurisdiction: Lessons from the United
Nations War Crimes Commission
Beyond Restitution: Exploring the Story of
Cultural Objects After Repatriation
Mixed Disputes in International Dispute
Settlement funded by the Ministry of Financial
Affairs, Republic of Korea
Unrestricted funds:
Immigration Detention and the Rule of Law
The Dynamics of the Judiciary in Ukraine in
the Context of the Rule of Law and the EU
Accession Aspirations
Rule of Law and Judicial Selection -
Developing a Toolkit for Improving Outcomes
Rule of Law Monitoring Project
Sybil Shine Memorial Trust Youth and Public
Engagement Programme
Identification of Adults with Lived Experiences
of Modern Slavery in the UK
Identifying and comparing impacts of
mandatory due diligence legal models on
internal corporate practice
Rule of Law Restoration Project
Access to Legal Advice for Survivors for
Modern Slavery
Designated fund - 60th Anniversary Appeal
The Dorset Fellowship in Public International
Law
Independent Commission on Public Health
Emergency Powers
Project looking at the non-punishment
principle for the victims of human trafficking
Independent Commission on UK
Counterterrorism Legislation, Policy and
Practice
Total unrestricted funds
Democratising law-making after Brexit		 38,238
-
1
22,888
5,500
15,210
836
90,310
7,251
66,234
-
-
-
-
-
-
-
(4)



 93,773
-
-
19,667
-
50,600
-
145,000
10,800
75,000
29,486
5,073
75,903
2,917
150,000
77,164
43,844
85,381
4,720		 (123,342)
-
-
(39,175)
-
(63,057)
(14,897)
(135,000)
(18,051)
(57,976)
(29,486)
(5,073)
(47,242)
-
(71,078)
(18,946)
(27,828)
(60,441)
(9,103)		 -
-
-
-
14,061
-
-
-
-
-
-
-
-
4,383
4		 8,669
-
1
3,380
5,500
2,753
-
100,310
83,258
-
-
28,661
2,917
78,922
58,218
16,016
24,940
-
-
1,673,332 2,062,652 (2,879,560) - 856,424
2,193,127 2,062,652 (2,879,560) (393,876) 982,343
-
443,416
7,247		 107,925
-
1,288,245		 -
-
(1,389,603)		 (107,925)
-
501,801		 -
443,416
407,689
450,663 1,396,170 (1,389,603) 393,876 851,105
2,643,790 3,458,821 (4,269,163) - -
1,833,448

42

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

20b Movements in funds (prior year)

Total endowment funds
Rule of Law, Legitimacy and Effective COVID-
19 Control Technologies
Protection of Intangible Cultural Heritage in
the Pacific Region
RECONNECT (H2020)
Beyond Restitution: Exploring the Story of
Cultural Objects After Repatriation
Beyond theoretical differences on
international law: Identifying common ground
among states on unlawful behaviour in
cyberspace
Influencing Covid-19 legislation through Rule
of Law-based scrutiny
Bingham Centre Appeal - Phase 2
Arthur Watts Fellowship - Phase 2
Big Data and Algorithms
Exposing Labour Exploitation in Cuba
Restricted income funds:
Endowment funds:
Research Council Open Access Block Award
2022/3
Modern Slavery Policy and Evidence Centre
Identifying and comparing impacts of
mandatory due diligence legal models on
internal corporate practice
Covid-19 and the Law - Protection and
Recovery for Vulnerable Groups
Access to Legal Advice for Survivors for
Modern Slavery
Global Labor Program - Platform for
Organising by Workers for Empowerment and
Recognition
Interdisciplinary Study on Medical Research:
Rescuing Intellectual Property Rights in
Pandemic Emergencies from "Tragedy of the
Anticommon"
Identification of Adults with Lived Experiences
of Modern Slavery in the UK
Global Perspectives on Corporate Climate
Change Legal Tactics
Climate Litigation and the Separation of
Powers
Global Promotion of the Rule of Law
Sunley-Percy Rugg
Barnett Shine
Sunley-Sebag Shaw		 At 1 January
2023
£
195,119
195,119
121,532
Income and
gains
£
4,012
4,012
-
Expenditure
and losses
£
-
Transfers
£
-
-
-		 At 1 January
2024
£
199,131
199,131
121,532
511,771 8,024 - - 519,795
215,243
38,984
13,970
8,721
63
1,689
240
-
32,872
124
97
778,183
2,017
19,428
(1,434)
102,487
8,568
26,381
-
-
-


 409,346
8,318
-
96,466
-
798
-
11,068
46,304
-
-
2,795,819
114,124
83,965
25,290
259,292
-
25,951
79,993
-		 (424,564)
(13,442)
(13,970)
(44,527)
(63)
(2,153)
-
(12,011)
(79,176)
-
-
(2,525,417)
(107,767)
(106,048)
(21,055)
(252,859)
(8,568)
(26,381)
(41,755)
(2,654)
(64,351)		 7,500
-
-
-
-
-
-
-
-
-
-
(67,005)
-
-
-
-
-
-
2,654
64,351		 207,525
33,860
-
60,660
-
334
240
(943)
-
124
97
981,580
8,374
(2,655)
2,801
108,920
-
25,951
38,238
-
-

43

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

20b Movements in funds (prior year) (continued)

Total restricted income funds
Total restricted funds
Capital fund
General funds
The Dorset Fellowship in Public International
Law
Rule of Law Monitoring Project
Independent Commission on Public Health
Emergency Powers
Democratising law-making after Brexit
Sybil Shine Memorial Trust Youth and Public
Engagement Programme
Project looking at the non-punishment
principle for the victims of human trafficking
Independent Commission on UK
Counterterrorism Legislation, Policy and
Practice
Total unrestricted funds
Total funds
Designated fund - 60th Anniversary Appeal
Unrestricted funds:		 71,497
-
3,434
40,926
55,865
-
61,598
1,480,953
1,992,725		 22,975
5,500
16,866
26,000
145,000
10,800
75,000
4,258,875
4,266,899		 (71,585)
-
(5,090)
(66,090)
(110,555)
(3,550)
(70,365)
(4,073,997)
(4,073,997)		 -
-
-
-
-
-
-
7,500
7,500		 22,887
5,500
15,210
836
90,310
7,250
66,233
1,673,332
2,193,127
-
450,283
111,362		 112,015
-
1,261,245		 -
-
(1,476,742)		 (112,015)
(6,867)
111,382		 -
443,416
7,247
561,645 1,373,260 (1,476,742) (7,500) 450,663
2,554,370 5,640,159 (5,550,739) - 2,643,790

44

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

Purposes of endowment funds:

Permanent: The Sunley-Percy Rugg and the Sunley-Sebag Shaw Endowment Funds

The Bernard Sunley Charitable Foundation established two Endowment Funds in 1982, namely:

The funds were established to recognise the contributions of Sir Percy Rugg and the Rt. Hon. Sir Sebag Shaw and were received by the Institute over the period from 1982 to 1991.

Each fund is owned and administered by the Institute and consists of £199,131 (2022: £195,119) held in perpetuity for the permanent endowment of the Institute. Income arising from the funds is applied for the general purposes of the Institute.

The assets of each fund are held in listed investments. At the end of the year the fair value of these investments had increased by £4,012 (2022: decreased £36,559) for each fund. Therefore each fund increased in value by £4,012 in respect of unrealised gains (2022: £36,559 unrealised gains).

Expendable: The Barnett Shine Charitable Foundation

This fund was originally established as the Shine Denning Endowment Fund of the British Institute of International and Comparative Law in 1982. A total of £300,000 was donated over the period from 1982 to 2000, to provide income to the Institute for its general purposes, including “the provision of financial or material assistance to the Institute”, but with the power to “apply the whole or any part of the Trust Fund whether capital or income in or towards the implementation of any one or more of the objects of the Trust”. Income arising from the funds is applied for the general purposes of the Institute. A transfer from expendable endowments of £178,468 was made in 2000 to settle a deficit on unrestricted funds. This left a balance of £121,532 which has remained unaltered since then.

Purposes of restricted funds: current year

Phase 2 of the Bingham Centre Appeal was launched in May 2013 to raise further funds to sustain the Centre beyond Phase 1.

The Bingham Centre receives grants from the Jones Day Foundation in respect of specific Global Rule of Law Exchange international conferences.

The Legal Education Foundation funded secretariat support for the All-Party Parliamentary Group on the Rule of Law.

Phase 2 of the Arthur Watts Fellowship Appeal was launched in December 2014 to raise further funds to sustain the Fellowship beyond Phase 1.

The Laudes Foundation provided funding for a project on Global Perspectives on Corporate Climate Legal Tactics. This project is from September 2022 to December 2024.

FILE Foundation provided funding for a project on Global Perspectives on Corporate Climate Legal Tactics. This project is from September 2022 to December 2024.

The Laudes Foundation provided funding for a project on Identifying and comparing impacts of mandatory due diligence legal models on internal corporate practice.

The Role of Good Governance and the Rule of Law in Building Public Trust in Data-Driven Responses to Public Health Emergencies.

The United States of America Department of State provided funding for a Trafficking in Persons research project.

45

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

Purposes of restricted funds: current year (continued)

The Pan American Development Foundation provided funds for research into Exposing Labour Exploitation in Cuba.

Hausfeld LLP provided funds for research into Climate Litigation and the Separation of Powers.

The Leverhulme Trust provided funding for the research project Beyond Restitution: Exploring the Story of Cultural Objects After Repatriation.

The Institute for Ethics in Artificial Intelligence provided funding for the research project Rule of Law, Legitimacy and Effective COVID-19 Control Technologies.

The Baring Foundation provided funding for the research project Influencing Covid-19 legislation through Rule of Law-based scrutiny.

The Arts and Humanities Research Council provided funding for the research project The Role of Good Governance and the Rule of Law in Building Public Trust in Data-Driven Responses to Public Health Emergencies.

The UK Research Councils awarded an Open Access Block Grant to support the implementation of the Research Councils' Policy on Open Access. It provided a further grant in 2022.

The Legal Education Foundation provided funding for co-creating and sustaining a programme of Policy-relevant Rule of Law Research.

The Arts and Humanities Research Council provided funding for the establishment of a Modern Slavery Policy and Evidence Centre.

The Independent Commission on UK Counterterrorism Legislation, Policy and Practice is funded by Barrow Cadbury Trust, the Open Society Initiative for Europe, the Joseph Rowntree Charitable Trust and Unbound Philanthropy.

The Rule of Law Monitoring Project is funded by the David and Elaine Potter Foundation, the Joseph Rowntree Charitable Trust, the Joseph Rowntree Reform Trust and AB Charitable Trust.

The Joseph Rowntree Reform Trust provided funding for the Depolarising Constitutional Debate project to campaign to build the constitution back better by facilitating the rediscovery of shared constitutional values in the UK.

The UKRI provided 3 year grant funding for a research project into Covid-19 and the Law - Protection and Recovery for Vulnerable Groups. This project began in February 2022 and will continue to January 2025.

Solidar Suisse provided a research grant for a Global Labor Program - Platform for Organising by Workers for Empowerment and Recognition. This commenced in 2022 and will be completed in October 2026.

A collaborative research project funded by the Economic and Social Research Council was undertaken with Aberdeen University for an Interdisciplinary Study on Medical Research: Rescuing Intellectual Property Rights in Pandemic Emergencies from "Tragedy of the Anticommon". Aberdeen University are leading the project which commenced in 2022 and will continue until January 2025.

The Laudes Foundation provided a 2 year grant for a project on Global Perspectives on Corporate Climate Change Legal Tactics, with a selection of tools for NGOs, government bodies, local communities, other affected groups and individuals around the world, and those representing them.

Konrad Adenauer Stiftung (Australia) Ltd provided funding for a research project into the Protection of Intangible Cultural Heritage in the Pacific Region. The final report is due at the beginning of 2023.

Funding was provided by the PEC for a study into the Access to Legal Advice for Survivors of Modern Slavery.

Funding was provided by the PEC for a study into the Identification of adults with lived experiences of modern slavery in the UK.

The FCDO provided funding for a project on 'Beyond theoretical differences on international law: Identifying common ground among states on unlawful behaviour in cyberspace'.

The Independent Commission on UK Public Health is generously supported by the JRSST Charitable Trust, alongside other funders.

The Dorset Fellowship in Public International Law is 3 year funding from the Dorset Foundation.

The Foreign and Commonwealth Office provided funding for a London conference which was held in October 2022 on international law.

The Sybil Shine Memorial Trust provided funding for a Youth and Public Engagement Programme.

46

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

Purposes of restricted funds: prior year

Phase 2 of the Bingham Centre Appeal was launched in May 2013 to raise further funds to sustain the Centre beyond Phase 1.

The Bingham Centre receives grants from the Jones Day Foundation in respect of specific Global Rule of Law Exchange international conferences.

The Legal Education Foundation funded secretariat support for the All-Party Parliamentary Group on the Rule of Law.

Phase 2 of the Arthur Watts Fellowship Appeal was launched in December 2014 to raise further funds to sustain the Fellowship beyond Phase 1.

The European Union provided funding for a collaborative research project RECONNECT (H2020) led by the University of Leuven.

The Jones Day Foundation provided funding for the global promotion of the rule of law for the period September 2018 to August 2021.

The Foundation Open Society Institute and the Digital Freedom Fund provided funding for a research project on big data and algorithms.

The Bluston Charitable Foundation provided funds for the creation of a new meeting room in Charles Clore House to be known as the Bluston Hub.

The United States of America Department of State provided funding for a Trafficking in Persons research project.

The Caribbean Community (CARICOM) provided funding to provide assistance to member states to harmonise companies and insolvency laws and instruments for the mutual recognition of companies.

The Pan American Development Foundation provided funds for research into Exposing Labour Exploitation in Cuba.

Hausfeld LLP provided funds for research into Climate Litigation and the Separation of Powers.

The Leverhulme Trust provided funding for the research project Beyond Restitution: Exploring the Story of Cultural Objects After Repatriation.

The Institute for Ethics in Artificial Intelligence provided funding for the research project Rule of Law, Legitimacy and Effective COVID-19 Control Technologies.

The Baring Foundation provided funding for the research project Influencing Covid-19 legislation through Rule of Law-based scrutiny.

The Arts and Humanities Research Council provided funding for the research project The Role of Good Governance and the Rule of Law in Building Public Trust in Data-Driven Responses to Public Health Emergencies.

The UK Research Councils awarded an Open Access Block Grant to support the implementation of the Research Councils' Policy on Open Access.

The Legal Education Foundation provided funding for co-creating and sustaining a programme of Policy-relevant Rule of Law Research.

The Arts and Humanities Research Council provided funding for the establishment of a Modern Slavery Policy and Evidence Centre.

The Independent Commission on UK Counterterrorism Legislation, Policy and Practice is funded by Barrow Cadbury Trust, the Open Society Initiative for Europe, the Joseph Rowntree Charitable Trust and Unbound Philanthropy.

The Rule of Law Monitoring Project is funded by the David and Elaine Potter Foundation, the Joseph Rowntree Charitable Trust, the Joseph Rowntree Reform Trust and AB Charitable Trust.

The Joseph Rowntree Reform Trust provided funding for the Depolarising Constitutional Debate project to campaign to build the constitution back better by facilitating the rediscovery of shared constitutional values in the UK.

The Sybil Shine Memorial Trust provided funding for a Youth and Public Engagement Programme.

47

The British Institute of International and Comparative Law

Notes to the financial statements

For the year ended 31 December 2024

Unrestricted funds: current year

A designated fund established in respect of funds raised from the 60th Anniversary Appeal was used to provide funds towards the refurbishment of the Institute's office space, the creation of a new conference and events suite, and the development of new programmes of research, training and events.

Unrestricted funds: prior year

A designated fund was established in respect of funds raised from the 60th Anniversary Appeal, which was used to provide funds towards the refurbishment of the Institute's office space, the creation of a new conference and events suite, and the development of new programmes of research, training and events.

Capital Fund

The capital fund represents the net book value of fixed assets less the value of the University of London creditor £846,826 (2022: £927,046) associated with the cost of leasehold improvements.

Transfers between funds: current year

50% of the income (£7,500) for an unrestricted project funded by Prizsm, was transferred to the Bingham Centre to offset associated staff costs.

Transfers between funds: prior year

As per the agreement, the outstanding balance from the project 'Harmonising Caribbean company and insolvency law' was

transferred to unrestricted funds. This amount totalled £5,261.

Funds received from the 60th Anniversary Appeal have been transferred from designated funds to general unrestricted funds, as these funds are to be applied for the general purposes of the Institute.

21 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases are as follows:

One to five years
Over five years
Less than one year		 Property Property Equipment Equipment
2024
£
1
3
45		 2023
£
1
4
46		 2024
£
-
-
-		 2023
£
-
-
-
49 51 - -

22 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

48