The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The objectives of the charity are to promote and encourage the study of Iran and the wider Persianate world, the history, civilisation and culture in all periods, including the archaeology of Persian artefacts worldwide.
The year 2024-25 has seen us pursue the various pillars of our strategic plan which will see us through to 2030. We are in the process of rethinking the structure of our grant awards with greater focus on early career researchers providing necessary seed money to allow them initiate projects which can in time secure further grant money. With our flagship programmes – which ran over three years – coming to an end, we are in the process of replacing our flagship research projects with a single BIPS Fellow which will allow us to support researchers from abroad who wish to come to the UK for a brief period to conduct research. Last year we inaugurated our BIPS Outreach project Grants to support projects that promote the knowledge of the Persianate world to a non-academic audience, with four excellent applications from leading institutions including Kew Gardens and Sissinghurst.
Our India networking and digitisation pillars continue to develop at pace with major collaborations due to take place with two institutional Indian partners in 2026 on the topics of Zoroastrianism and Mughal India in relation to the Persianate world. We continue to grow our digital offering with partnerships with Persian Language Online and the Golha platform both of which provide resources to the public for free.
The digitisation platform has been configured and we have made significant progress in review and digitisation of Stronach and other archives. This has been achieved in collaborative work with the other Research Institutes (BIRIs) funded by the British Academy and the Archaeological Data Service in York. The objectives are developing in-house expertise and guidelines and good practices which constitute the standards for modern digital archives, including compilation of a comprehensive user guide to BIPS digital platform. The next phase is data completion, cleansing and the migration of the archives onto the platform.
BIPS also collaborated with the BIRIs, in production of two digital stories, one on the contributions of women to the work of the institutes in their early days and the other on the early history of the institutes, which identified the wealth of information preserved by the archives, the links between the BIRIs, and the opportunities provided by the digitisation of the archives for wider public access to the information and research of the archives.
The Stronach Fellow has made remarkable progress, and the records of the Yarim Tepe excavations have been digitised and a volume prepared for publication. It is currently being peer reviewed. Great progress has also been made with the record of the Nush-i Jan (Malayr-Jowkar Plain) Survey. They have been digitised and a full publication, with catalogue, which includes the sites, is now in the course of preparation. This report has been eagerly awaited by the scholarly community, and will make a substantial contribution to knowledge.
Unrestricted funds decreased by £5,151 (2024: £3,734) to £235,137 (2024: £240,288). A restricted fund was created in the financial year ended 31 March 2012 in respect of a donation of £4,000 towards funding book publication grants. This fund had a balance of £2,000 (2024: £2,000) as at 31 March 2025. A restricted fund was created in 2013 for advanced language training. There was a balance of £13,260 on this fund as at 31 March 2025 (2024: £13,260). The Digitisation fund was created in 2022 from a donation for the cost of digitisation of BIPS archive of historical archaeological and research records. The balance on the fund is £9,900 as at 31 March 2025 (2024: £6,250). The designated funds set aside by the trustees for a new motor vehicle and to facilitate travel grants for research students continued to be carried forward. A new fund was created in March 2024 from a grant provided by the British Academy to contribute towards the cost of running and development of Persian Language Online. This fund started its activity in the year and had a balance of £21,283 at 31 March 2025 (2024: £10,000).
All trustees – except for office holders – serve a three-year term renewable once, for a total of six years. When vacancies arise director/trustee candidates are nominated by two members and submitted for election by the membership. Successful candidates are announced at the AGM, subject to the maximum total number of trustees allowed by the Articles of Association.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of The British Institute Of Persian Studies (the charity) for the year ended 31 March 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
J A Griggs FCA
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The British Institute Of Persian Studies is a private company limited by guarantee incorporated in England and Wales. The registered office is 10 Carlton House Terrace, London, SW1Y 5AH.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified by the revaluation of investments. Investments are included at market value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Income received by way of grants, donations and gifts is included in full in the statement of financial activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the Institute, are recognised when the Institute becomes unconditionally entitled to the grant.
Investment income is included as it accrues.
Income from charitable trading activities is accounted for when earned.
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered, and is reported as part of the expenditure to which it relates.
Other costs include those costs associated with meeting the constitutional and statutory requirements of the Institute and include the independent examiners’ fees and costs linked to the strategic management of the Institute.
All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource. All costs are allocated directly to a particular activity.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Since 1995, assets purchased by the charity have been expensed through the statement of financial activities. However, if a significant capital expenditure is being proposed, the trustees consider whether this treatment is appropriate in relation to the specific transaction concerned.
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
The trustees have reviewed the current asset investments held by the charity. It is intended that these are held for the foreseeable future and therefore they have been reclassified as fixed asset investments.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
7 members of the Council received travel and other expenses totalling £3,847 (2024: £2,131). An honorarium of £1,000 was paid to Cameron Petrie, one of the trustees, for editing the Iran Journal for the year.
The average monthly number of employees during the year was:
The charity operates a defined benefit pension scheme for its employees. The charity has no liability beyond the payment of these contributions.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Restricted Funds:
Bahari Foundation fund - This fund represents money given to the Institute towards its special series publications.
Advanced language training fund - This fund represents money given to the Institute by the British Academy for the provision of advanced language training for research students.
Conference fund - This fund represents money given to the Institute by the British Academy for promoting and encouraging study of Iran and the wider Persianate world.
Basic fund - This fund represents the basic grant from the British Academy used for the core charitable purposes of research, communications and outreach, library and collections and establishment costs.
Iran Society - This fund represents monies passed through the Institute from the Iran Society in respect of an arrangement to aid the provision of grants to scholars in the final year of their PhD.
Bruce Wannell fund - This fund has been set up in memory of the Iranian Scholar Bruce Wannell, to fund an annual public lecture in his honour at the University of York. The balance of funds was transferred to the University of York in 2024. Going forward events will continue with The British Institute of Persian Studies as a named sponsor and participant.
Digitisation fund - This fund has been set up to contribute towards the cost of digitising BIPS archive research and archaeological material. The costs were committed by the year end and will be paid in 2025/26.
Persian Language Online - This fund was initially provided by The British Academy to contribute towards the cost of running and the development of Persian Language Online.
Fellowship fund - This is a multi-year fellowship grant included within the Basic fund. BIPS is responsible for the payment of salary each month.
Strategic fund - This is a long-term project in association with Indian institutions. The costs were committed by the year end and will be expensed by November 2026.
Unrestricted Funds:
General fund - This represents funds available to be spent or applied at the discretion of the trustees to further any of the charity’s purposes.
Designated Funds:
BIPS UG/PG travel fund - This fund represents monies to be used to facilitate travel by research students to Iran.
Motor vehicles - This fund represents money set aside to facilitate the purchase of a new vehicle.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
There were no disclosable related party transactions during the year (2024 - none).