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2021-12-31-accounts

Contents
Report ofthe Council
Statement ofthe Council's responsibilities in respect ofthe Report ofthe Council and Strategic Report and the
financial
statements
Independent
auditor's		 report to the members ofthe Aga I&han Foundation (United kingdom) 10
Statement ofFinancial Activities, including Income and Expenditure Account 13
Balance Sheet 14
Cash Flow Statement 15
Notes 16

for the year ended 3 1Dec ember 2021
Notes Unrestricted Funds Restricted Total Total
General Designated Funds 2021 2020
Funds Funds
%000 f000 f000 %000 5000
Income from
Grants, donations
and legacies
Social development programmes 6,236 31,551 37,787 37,926
Institutional
development		 1,560 10,839 12,399 12,096
Social and cultural
centres		 2,543 2,543 4,318
Communications
and awareness		 raising 176 176 235
Core costs 1.709 1,709 1,977
Rental income 2,248 2,248 2,374
Investment
income		 8 8 50
Other income 41 41 13
Net gain/(loss)
from		 foreign exchange 157 (9) 148 91
Total income 3,445 22,072 31,542 57,059 59,080
Expenditure
Charitable
activities
Social development programmes 1,404 3,432 34,655 39,491 32,664
Institutional
development		 1,815 12,435 14,250 10,760
Social and cultural
centres		 27 491 518 1,379
Communications
and awareness		 raising 176 176 235
Total expenditure 3,422 16,358 34,655 54,435 45,038
Net income
/ (expenditure)		 for the year 23 5,714 (3,113) 2,624 14,042
Transfers between
funds
Net expenditure
before		 other recognised 23 5,714 (3,113) 2,624 14,042
gains and losses
Net gain/(loss)
fiom investments		 10
Net movement
in funds		 23 5,714 (3,113) 2,624 14,042
Reconciliation
offunds
Funds brought
forward		 361 201,835 13,157 215,353 201,311
Total funds carried forward 20 384 207,549 10,044 217,977 215,353

Notes 2021 2020
%000 %000 OOOO fOOO
Fixed assets
Tangible
assets		 9 155,179 156,094
Investments 10 24,500 24,500
179,679 180y594
Current
assets
Debtors 11 1,228 934
Cash at bank and in hand 18 41,729 35,740
42,957 36,674
Creditors: amounts falling due within one year 13 (4,659) (1,915)
Net current assets 38,298 34,759
Total assets less current liabilities 217,977 215,353
Creditors:
amounts		 falling due after one year
Net Assets 217,977 215y353
Share capital and reserves
Called up share capital 21
Funds:
Unrestricted funds
General
funds		 20 384 361
Designated funds 20 207,549 201,835
Restricted funds 20 10,044 13,157
217,977 215,353
Aga Khan Foundation Aga Khan Foundation (United Kingdom)
31 December 2021
Registered Number: 01100897
Registered Charity Number: 266518
Cash Plow Statement
for the year ended 3l December 202l
Notes 2021 2020
f.000 f000
Net cash inflow
/ (outflow)		 from operating activities /7 6,515 11,586
Cash flows from investing activities
Interest received 50
Payments to acquire fixed assets (534) (686)
Increase/(decrease) in cash and cash equivalents l8 5,989 10,950
Net cash at 1 January l8 35,740 24,790
Net cash at 31December 41,729 35,740

3 Employee information
2021 2020
f,000 f.000
Salaries and wages 3,292 3,007
Social security costs 357 334
Pension costs 270 241
Other benefits 96 79
' 661
totalling
X52k (2020:K49k). The average number ofstaff em		 ployed
by AKF (UK) during
the year		 is:
2021 2020
Number Number
Communication 2 3
Finance and Administration 8 7
Grant administration 18 16
Victoria Hall Management 7 7
Aga Khan Centre Management 7 7
AKDN Programmes 14 13
Employees
earning
above %60,000		 2021 2020
Number Number
f60,001 - f70,000
$70,001 - f80,000
f80,001 - f90,000
F90,001 - 6100,000
f100,001 - f110,000
f130,001 - $140,000
f140,001 - f150,000
f150,001 - f160,000
F.180,001 - f190,000
F.190,001 - f200,000
5280,001 - F290,000
4
Expenditure		 4
Expenditure		 4
Expenditure		 4
Expenditure		 4
Expenditure
Expenditure
for the year is stated after charging		 the following costs.
2021 2020
f.000 5.000
Depreciation
(note 9)		 2,359 3,259
Audit fee —Crowe UK audit ofthese financial statements 33 32
Audit fee - KPMG (16)
Auditor's remuneration for non-audit services 18

he use ofresources
a
y the relevant
staff.		 nd t he c alcu lation o falloca tion
is deter		 mined
by the percen		 mined
by the percen		 tage oftime s pent on each c ategory
Office
Expenses k,
Human Information Travel Total Total
Resources Technology Expenses 2021 2020
f000 f000 f000 f000 $000
Unrestricted
funds
Social development programmes 1,042 342 20 1,404 1,280
Institutional
development		 195 59 I 255 682
Social and cultural
centres		 20 6 1 27 40
Communications
and awareness		 raising 133 40 3 176 235
1,390 447 25 1,862 2,237
Grants and donations received
Unrestricted Restricted Total Total
Funds Funds 2021 2020
f000 f000 f000 f000
Social development programmes
European
Commission		 (including ECHO) 11,738 11,738 15,028
UK Foreign, Commonwealth 8c Development Oftice (FCDO) 8,240 8,240 10,019
Aga Khan Foundation (USA) 5,535 5,535 2,896
KfW 4,127 4,127 3,063
Swiss Agency for Development
and Cooperation (SDC)
Royal Norwegian
Ministry
ofForeign Affairs		 2,427
1,148		 2,427
1,148		 1,608
The Lego Foundation 930 930 216
Jacobs Foundation 797 797 672
Vito1 Foundation 500 500 396
Porticus 418 418 186
The Wellspring
Foundation		 400 400 480
German Federal Foreign Office
Johnson 4Johnson		 281 281 309
1,617
Other Donations 701 545 1,246 1,436
6,236 31,551 37,787 37,926
Institutional
development
Donations
in commemoration		 of His Highness' Diamond
Jubilee 3,527 3527 3,895
Donations
designated		 to the Aga Khan University 1,887 1,887 1,765
Donations
designated		 to Kings Cross operational costs 1,056 1,056 967
Donations
designated		 to the Aga Khan Schools 412 412 20
Donations
designated		 to The Institute of Ismaili Studies 199 199 237
Other Donations 5,318 5,318 5,212
12,399 12,399 12,096

The following
tables show grants paid to institutions		 The following
tables show grants paid to institutions		 by country
Unrestricted Restricted Total Total
Funds Funds 2021 2020
f000 f000 f000 f000
Afghanistan
FCDO GEC - STAGES II - Aga Khan Foundation,
Afghanistan		 4,632 4,632 8,152
EC Strengthening
COVID-19 Response
in Afghanistan		 -Aga Khan 4,464 4,464
Foundation,
Afghanistan
FCDO - Leave No Girl Behind - Aga Khan Foundation, Afghanistan 2,176 2,176 955
EC Improve Participatory
Management
and Efficiency		 ofRangelands 1,956 1,956 2,468
and Watersheds
-Aga Khan Foundation,
Afghanistan
Girls and Science - Aga Khan Foundation,
Afghanistan		 180 180 92
Improving
Educational
Opportunities
in the Cross-Border Areas - Aga		 99 99
Khan Foundation,
Afghanistan
Forest Restoration
to Enhance Ecosystem Services in Afghanistan-		 48
Aga Khan Foundation,
Afghanistan
Schools 2030 Phase II - Aga Khan Foundation,
Afghanistan		 32 32
Schools 2030 - Aga Khan Foundation,
Afghanistan		 254
Afghanistan
Quality Learning
-Aga Khan Foundation,		 Afghanistan 239
Australia
Afghanistan
Community
Resilience Scheme		 -Aga Khan 160
Foundation,
Afghanistan
Preservation
ofEndangered
Languages
in Afghanistan's		 Badakhshan- (10) (10)
Aga Khan Foundation,
Afghanistan
Total for Afghanistan
programmes		 38 13,539 13,577 12,331
Egypt
EC Improving
Local Development
Dynamics
in Aswan		 - Aga Khan 65 65
Foundation,
Egypt
Creating Access to Cairo's Islamic Cultural
Heritage - Aga Khan		 25 10 35 305
Cultural
Services, Egypt
Women in Agriculture
-Aga Khan Foundation,
Egypt
Strengthening
the Capacity and Role ofCivil Society Organisations		 in
Egypt (SCR-CSO) - Aga Khan Foundation,
Egypt
Total for Egypt programmes 90 10 100 314
Aga Khan Foundation (United Kingdom) (United Kingdom)
31 December 2021
Registered Number: 01100897
Registered
Charity Number: 266518
NOteS (continued)
7
Expenditure
on social development
programmes		 (continued)
Unrestricted Restricted Total Total
Funds Funds 2021 2020
f000 f000 f000 f000
Cross-Border
Supporting
Cooperation
and Opportunities
for Regional		 Economic 473 3,315 3i788 1,281
Development
(SCORED) - Aga Khan Foundation
Afghanistan,		 Aga
Khan Foundation
Tajikistan,
AP Tajikistan
and Mountain		 Societies
Development
Support Programme
Shugnan VI Energy Cross Border Project Phase I- Pamir Energy 3,449 3,449 3,624
Batken-Sughd
Cross-Border Development
Project - Aga Khan		 26 334 360 250
Foundation,
Kyrgyz Republic
and Aga Khan Foundation		 Tajikistan
Shugnan VII Cross-Border Energy Project - Pamir Energy 264 264 69
Establishment
ofa fibre processing
unit with dehairing		 and storage in 251 251 186
cross-border
areas - Aga Khan Foundation,
Tajikistan
All-weather
access road for cross-border
tourism
areas - Aga Khan		 211 211 101
Foundation,
Pakistan
Improved
Governance ofthe Natural
Park in the Wakhan		 Corridor- 208 208
Aga Khan Foundation,
Pakistan
and Aga Khan Agency		 for Habitat,
Afghanistan
Improved Road Infrastructure
and Market Access in Immit Valley-		 151 151 72
Aga Khan Foundation,
Pakistan
and Aga Khan Agency		 for Habitat,
Afghanistan
Kwahan
Integrated
Development
-Aga Khan Foundation,		 110 110
Afghanistan
Promoting
Access to Educational
Institutions
in the Cross-Border		 87 87 236
Districts - Aga Khan Foundation,
Afghanistan
Cross-Border Commission
Integrated
Infrastructure
-Aga		 Khan 365
Foundation,
Afghanistan
Rushan ICross Border Energy Project - Pamir Energy 214
Cross Border School Building
Construction
-Aga Khan		 Foundation, 148
Afghanistan
Total for Cross-Border programmes 499 8,380 8,879 6,546
Aga Khan Foundation Khan Foundation (United Kingdom) (United Kingdom)
31 December 2021
Registered Number: 01100897
Registered Charity Number: 266518
NOteS (continued)
7 Expenditure
on social development		 programmes (continued)
Unrestricted Restricted Total Total
Funds Funds 2021 2020
f000 OOOO OOOO f000
East Africa
EC AKDN Regional Eastern Africa COVID-19 Response Partnership 3,346 3,346
-Aga Khan Foundation,
East Africa
Schools 2030 - Aga Khan Foundation,
East Africa		 21 660 681 526
AKU-SONAM
Nursing
Scholarships
-Aga Khan University,		 East 466 466
Africa
In Their Hands - Aga Khan Foundation,
East		 Africa 350 350 34
Enhancing
the Competitiveness
ofSmallholder		 Rice Farmers in 127 127 282
Morogoro - Aga Khan Foundation,
East Africa
Madrasa Resource Centre and Early Childhood Development in East 99 99
Africa - Aga Khan Foundation,
East Africa
Play our Part Initiative - Aga Khan Foundation, East Africa 84 84
Linking Community-based
Saving Groups to		 Formal Financial 18 28 46 18
Services in the West Nile region ofNorthern Uganda - AKF Uganda
Strengthening
Resilience ofFrontline
Health		 Workers - Aga Khan 32 32 152
University
Oncology - Comprehensive
Cancer Project -		 Aga Khan Health 616
Services, Tanzania
Nursing
and Midwifery
Platform - Aga Khan		 University 476
Horticultural
Value Chain Development
-Aga		 Khan Foundation, East 80
Africa and Tanzania Horticultural
Association
Kenya Global Opportunity
Youth Initiative (GOYI) - Aga Khan
Foundation,
East Africa
Improving
Social and Economic Opportunities		 for Youth in Northern 21
Kenya - Aga Khan Foundation,
East Africa and		 Islamic Relief Kenya
Total for East Africa programmes 516 4,715 5,231 2,261

7
Expenditure
on social development
programmes		 7
Expenditure
on social development
programmes		 7
Expenditure
on social development
programmes		 (continued)
Unrestricted Restricted Total Total
Funds Funds 2021 2020
f.000 f000 f000 f000
India
Hygiene &Behaviour
Change Coalition for COVID-19 control		 -Aga 585 585 288
Khan Foundation,
India
Supporting
Local
Authorities
for
Accountable,
Responsive		 and 162 162
Transparent
Systems
for
Solid
Waste
Management		 - Aga Khan
Foundation,
India and Gram Swarajya Samiti Ghose (GSSG)
Establishment
of COVID
19 testing
facilities
- Prince		 Aly Khan 98 98 80
Hospital, Mumbai
Improving
Water and Sanitation
Infrastructure
and Hygiene		 Education 44
in 20 Schools ofBihar and Uttar Pradesh
- Aga Khan		 Foundation,
India
Strengthening
the AKF Lehar Programme
- Aga Khan		 Foundation, 19
India
Schools 2030 - Aga Khan Foundation,
India
Strengthening
New Pathways
for Youth Education, Empowerment		 and 327
Employment
in India and Kenya - Aga Khan Foundation,		 India
Total for India programmes 862 862 765
Kyrgyz Republic
Schools 2030 - Aga Khan Foundation,
Kyrgyz Republic		 113 113 170
Economic Recovery Kyrgyzstan
COVID-19 - Aga Khan		 Foundation, 67 67
Kyrgyz Republic
EC Strengthening
civil society organisations'
and youth' s		 43 43
participation
in local socio-economic
development
- Mountain
Societies Development
Support Programme,
Kyrgyz Republic
Integrated
Rural Development
Programme
-Mountain
Societies		 19 19
Development
Support Programme,
Kyrgyz Republic
Accelerate Prosperity
in Central
and South Asia - Mountain		 Societies 192
Development
Support Programme,
Kyrgyz Republic
Sustainable
Winter Tourism Development
Project (Phase		 I) - Aga 16
Khan Foundation,
Kyrgyz Republic
Total for Kyrgyz Republic programmes 62 180 242 378
Madagascar
Madagascar
Innovations
Leverage for Climate Adaptation		 (MILCA)- 150 (78) 72 299
Aga Khan Foundation,
Madagascar
SPEEDRICE: "Scaling-up, Promoting
and Expanding
Effortless		 35 35
Direct-seeding
RICE permaculture"
-Aga Khan Foundation,
Madagascar
Total for Madagascar
programmes		 150 (43) 107 299
NOteS (continued) NOteS (continued)
7 Expenditure
on social development		 programmes (continued)
Unrestricted Restricted Total Total
Funds Funds 2021 2020
f000 5000 f000 f000
Mali
Partenariat
pour le Renforcement
de la		 Resilience a 1'Insecurite 59
Alimentaire
et Nutritionnelle
au Nord Mali (PRIAN) - Aga Khan
Foundation,
Mali
Total for Mali programmes 59
Mozambique
Strengthening
Social Cohesion
and Resilience		 to Radicalization in 325 325 629
Cabo Delgado - Aga Khan Foundation,
Mozambique
JUNTOS III - Aga Khan Foundation,
Mozambique		 72 73 107
Total for Mozambique
programmes		 72 326 398 736
Pakistan
Critical Preparedness,
Readiness
and Response Actions for		 1,505 1,505 1,612
Coronavirus
Disease (COVID-19) Pandemic		 in Gilgit-Baltistan and
Chitral - Aga Khan Foundation,
Pakistan
Schools 2030 - Aga Khan Foundation,
Pakistan		 18 18 193
Accelerate Prosperity
in Centi
and South		 Asia - Aga Khan Rural 840
Support Programme,
Pakistan
Promoting
Integrated
Mountain
Safety in Northern		 Pakistan 602
(PIMSNP) - Aga Khan Foundation,
Pakistan
Strengthening
Preparedness,
Readiness
and		 Response Actions for 72
Covid-19 - Aga Khan Foundation,
Pakistan
Total for Pakistan programmes 1,523 1,523 3,319
Portugal
Capacity Buidling ofSenior Caregivers - Aga Khan Foundation, 182 182
Portugal
Schools 2030 - Aga Khan Foundation,
Portugal		 39 39 231
EC Social Impact Bonds Literacy Programme -Aga Khan 12 12
Foundation,
Portugal
Total for Portugal
programmes		 12 221 233 231
Switzerland
Schools 2030 - Aga Khan Foundation, Geneva 84
Total for Switzerland
programmes
NOteS (continued)
7
Expenditure
on social development		 programmes (continued)
Unrestricted Restricted Total Total
Funds Funds 2021 2020
f000 f000 f000 f000
Syria
Salamieh District Multi-Sectoral
Humanitarian
Assistance		 (MSHA)- 367 367
Aga Khan Foundation,
Syria
Total for Syria programmes 367 367
Tajikistan
Accelerate Prosperity
in Central and South Asia		 - Aga Khan Foundation, 928 2,087 3,015 105
Tajikistan
&,University
ofCentral Asia, Tajikistan
Integrated
Health and Habitat Improvement
(IHHI) Rasht -		 Aga Khan 613 613 417
Foundation,
Tajikistan
Economic Recovery Tajikistan COVID-19 - Aga Khan Foundation, 336 336
Tajikistan
Critical Infrastructure
to Contribute
to Stability
and Peace in		 Khorog- 297 297 1,170
Aga Khan Foundation,
Tajikistan
Schools 2030 - Aga Khan Foundation,
Tajikistan		 113 113 229
Improving
livelihoods
and food security through		 sustainable Natural 57 57 158
Resource Management
-Mountain
Societies Development		 Support
Programme
Tajikistan,
ACTED, Non-Commercial		 Cooperative Sarob
and CAMP Kuhiston
Safe Drinking
Water and Sanitation Management		 in Tajikistan (SWSMT) 49 49 71
-Aga Khan Foundation,
Tajikistan
Supporting
Accelerated
Growth for Entrepreneurship		 (SAGE) - Aga 43 43 49
Khan Foundation,
Tajikistan
Shugnon
Health Care Center - Aga Khan Foundation,		 Tajikistan 16 16 15
Rushon Health Care Center - Aga Khan Foundation, Tajikistan 13 13 15
Darvoz Health Care Center - Aga Khan Foundation, Tajikistan 13 13 15
Khorog Rehabilitation
Youth Centre - Aga Khan		 Foundation, Tajikistan 9 9 9
Total for Tajikistan
programmes		 1,741 2,833 4,574 2,253
United Kingdom
Schools 2030 - Vera Solutions,
Idara-i-Talim-o-Aagahi		 Public Trust, 41 294 335 15
Eklavya Foundation,
Right to Play Internationa,		 University ofCalifornia,
Berkeley, Nazarbayev
University,
HundrEd
& Oxford		 MeasurEd
Disaster Risk Insurance
Phase 2 - Global Paratnetrics		 &Aga Khan 171 171
Agency for Habitat
Development
ofEarthquake
model - Global Parametrics		 42
Total for United Kingdom
programmes		 41 465 506
Total Grants made for social development 3,221 33,378 36,599 29,633
Non-Grant
Expenditure		 1,615 1,277 2,892 3,031
Total Expenditure
for social development		 4,836 34,655 39,491 32,664
25

arket tr
24.5m		 ends have all been taken
into account
by the Counci		 l
in their decision to keep the balance		 sheet value
2021 2020
f000 f000
Balance at I January 24,500 24,500
Acquisitions
Change in Fair Value
Balance at 31December 24,500 24,500
1 Debtors
2021 2020
f,000 f.000
Prepayments and accrued income 799 555
Debtors with other AKDN Agencies 379 370
Other debtors 50 9
1,228 934

7
Reconciliation		 ofnet income to net cash inflow from operating activities
2021 2020
f,000 f000
Net movement
in funds		 2,624 14,042
Depreciation
on tangible fixed assets		 2,359 3,259
(Gain) / Loss on Investment
Gift in kind donations capitalised (910) (3,742)
Interest receivable (8) (50)
(Increase) / decrease in debtors (294) (35)
Increase
/ (decrease) in creditors		 2,744 (1,888)
Net cash inflow
/ (outflow) from operating		 activities 6,515 11,586
8
Cash and cash		 equivalents
2021 2020
f000 f000
Changes
in the year
At l January 35,740 24,790
Net cash inflow/(outflow) 5,989 10,950
At 31December 41,729 35,740

Unrestricted
Funds		 Unrestricted
Funds
General Designated Restricted 2021 2020
Funds Funds Funds Total Total
f000 f000 f000 f000 f000
Balance at 1 January 361 201,835 13,157 215,353 201,311
Income 3,445 21,915 31,551 56,911 58,989
Expenditure
Recognised		 Gains / (Losses) (3,422) (16,358)
157		 (34,655)
~9		 (54,435)
148		 (45,038)
91
Balance at 31 December 384 207 549 10044 ~~7 215 353
Represented by:
Fixed assets 179,679 179,679 180,594
Current assets 674 29,736 12,547 42,957 36,674
Current liabilities ~290 ~1866 ~2503 ~4659 ~1915
384 207 549 10044 ~217
77		 215353
Social Institutional Social 2021 2020
Development Development Total Total
Designated Funds f000 f000 f.000 f000 f.000
Balance at 1 January 983 180,612 20,240 201,835 195,499
Income 6,239 13,098 2,578 21,915 21,885
Expenditure (3,432) (12,435) (491) (16,358) (15,640)
Recognised
Gains / (Loses)
Transfer offunds		 157
~9		 9 157 91
3 938 181284 22 327 207,549 201 835
Represented by:
Fixed assets 160,333 19,346 179)679 180,594
Current assets
Current liabilities		 3,938 22,745
~1794		 3,053
~72		 29,736
~1866		 22,341
~1100
3 938 181 284 22 327 2IL7 ~4 201 835