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School of Oriental and African Studies

Annual Report andFinancial Statements2006/2007

The School of Oriental and African Studies (SOAS) was founded in 1916 and is a college of the University of London. SOAS is the only Higher Education institution in the world specialising exclusively in the study and research of Asia, Africa and the Middle East. Our academic focus on the languages, cultures and societies of these regions makes SOAS a guardian of specialist knowledge and an indispensable interpreter in a complex world.

Statement of Purpose

SOAS provides resources and knowledge about Africa, Asia and the Middle East to equip people for a global economy and a multicultural Britain.

The School’s purpose is:

To advance through teaching and research the knowledge and understanding of Africa, Asia and the Middle East

To contribute to the development of the School’s academic disciplines

To provide high quality education so that our students achieve excellence in their chosen subject or subjects and develop their intellectual and other core skills

To promote and lead global public education in our areas of specialist expertise concerning Africa, Asia and the Middle East, both in the United Kingdom and around the world

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Contents

Director and Principal’s Review 2

Research 4

Teaching 6

Review of Activities 8

Faculties and Departments 8

Regional and Interdisciplinary Centres 11

Other developments 12

Exhibitions 14

Publications 15

Facts and Figures 18

Governing Body 20

Financial Statements 21

Treasurer’s Report 22

Corporate Governance 24

Statement of Governors’ Responsibilities 25

Independent Auditors’ Report 26

Statements of Principal Accounting Policies 28

Income and Expenditure Account 30

Statement of Historical Cost Surpluses and Deficits 31

Statement of Total Recognised Gains and Losses 32

Balance Sheet 33

Cash Flow Statement 34

Notes to the Accounts 35

Useful Contacts 52

2 SOAS Annual Report and Financial Statements 2006/2007

Director and Principal’s Review

I look back on 2006/2007, my first year as Director and Principal, with immense pleasure. Getting to grips with an institution is a time-consuming and difficult task, but my colleagues and the students have made this both fascinating and enjoyable, so I now feel that I understand SOAS – and have, like everyone who interacts with SOAS, learnt an enormous amount in the process.

During the year I participated in a number of classes and lectures, both postgraduate and undergraduate. In these classes I have, among other things, learnt some basic Burmese and some phrases of Chinese (all now unfortunately forgotten), practised as part of a gamelan group, and learned something of the complexities involved in colonisation. I have also gained a sense of the heterodox position in development economics and discussed the historiography of 19th century Japanese texts. My fellow students were brilliant: supportive, well-informed, constructively critical, committed and engaged and the special qualities of our students are just as evident in our staff.

The lists in the Annual Report, of publications and research grants, and the summaries of activities give some idea of the wide range of work they do, but simple lists do not convey the brilliance of the work. There are insightful books in anthropology, penetrating analysis in development studies, books for language-learners, and stunningly effective catalogues in Art and Archaeology, to mention just a few.

It is easy to concentrate on the highly visible things that members of the SOAS community do: the books, public lectures, conferences, TV appearances, exhibitions, concerts, broadcasts on our OpenAir radio station and so on. We must bear in mind the huge amount of work that goes on behind the scenes (for example by the IT specialists, the librarians, the various student support services) to make these things possible but also the less visible activities, such as the extensive volunteer work that is carried out by SOAS students and staff.

We made good progress in a number of areas in 2006/07.I will briefly discuss just four of these.

First of all, and something that is discussed at greater length by the Treasurer, it is very gratifying to report that the School made a surplus of £386k in 2006/07, the first time for many years that this has been achieved. And with good recruitment overall in the autumn of 2007 we are set to repeat this again this coming year. Making a surplus is not a goal in its own right (the School is a charity and has no shareholders) but is essential to provide a firm financial platform so that we can improve our infrastructure, services to students and the working conditions of staff. We need to generate bigger surpluses to give us room for manoeuvre but this is an excellent start which can give us considerable confidence for the future.

A key aim in 2006/07 was to produce a clear vision for the future for the School. Much of the autumn term was spent evolving, through widespread consultation with staff and students, a vision and strategy for 2016 which is the School’s centennial year. This lays out our vision (where we want to be in 2016), our purpose and our values. This commits the School to growth in student numbers, to developing its focus on contemporary issues, to maintaining specialist language-based regional studies and identifies a number of academic priorities (Islamic studies, Chinese Studies, Thematic Masters programmes and Africa).

This overall vision and strategy, which was signed off at the December 2007 meeting of Governing Body, is underpinned by eight sub-strategies. As part of the work on sub-strategies, an Estates Master plan was produced by our architects, again, involving consultation with staff and students. Space is still the major constraint on SOAS, but we now know what we can do about it and the emphasis will now shift to the practical steps (for example, acquiring land and obtaining planning permission) that need to be taken to create the space and facilities that our students and staff deserve.

�SOAS Annual Report and Financial Statements 2006/2007

Despite the constraints of space, we have strengthened our academic staff considerably and appointed new colleagues in Social Anthropology, Korean Art History, Modern South Asian History, African Film, Contemporary Chinese Poetry, Contemporary Japanese Culture, Arabic, Linguistics, Development Studies, Islamic Law, and International Relations. Most departments have new academic staff. We have also welcomed a group of colleagues from Wye to create a Centre for Development, Environment and Policy after months of challenging negotiations with Imperial College. This is a particularly gratifying outcome: the programmes that they offer, for example, in Sustainable Development and Environmental Management fit in well with our interests here. Staff from the Centre are still based down on the Wye campus in Kent – now the SOAS Kent campus - some also have a base in the London International Development Centre, a collaborative enterprise with the other Bloomsbury Colleges.

A second key aim was to bring about a process of organisational change. We have begun this though there is still a great deal more to be done. We have for example, introduced a new slimmed down committee system; commissioned a review of faculty administration and its working relationship with central administration; carried out a staff survey so as to identify the key issues that need to be dealt with and initiated a number of changes to the Directorate, Registry and Student Services. The staff survey will be repeated in two years time so that we will be able to assess the progress made in this area.

We have achieved a great deal in 2006/07 and the changes that we have made this year will enable us to do still more in the future. I am confident that SOAS in the coming years will be the University of the early 21st century.

Professor Paul WebleyDirector and Principal

We have strengthened our academic staff considerably and appointed new colleagues in Social Anthropology, Korean Art History, Modern South Asian History, African Film, Contemporary Chinese Poetry, Contemporary Japanese Culture, Arabic, Linguistics, Development Studies, Islamic Law, and International Relations


Research

The total amount of new external research grants announced during the year was £2.93 million – an increase of £1.70 million on 2005/06.

Some of the larger grants included:

$1.25 million secured by the Centre for Korean Studies, led by Dr Jaehoon Yeon and Dr Anders Karlsson. The award, from the Academy of Korean Sciences, is over five years and will provide SOAS with a major opportunity to become the leading institution for Korean studies in Europe. It will enable the School to appoint a new lecturer, create two postdoctoral research fellowships, run a series of seminars and lectures, and develop new curricular materials for the teaching of the Korean language and Korean history.

Dr John Campbell was awarded a two year grant from the Economic and Social Research Council (ESRC) of £386,400 to examine the British asylum system from the point of view of asylum applicants from Ethiopia and Eritrea. Research will be carried out with refugee communities in England into the way that immigration lawyers frame and argue asylum claims,

and into the way in which the Immigration and Appellate courts decide such cases.

Dr Laurence Smith was also awarded an ESRC grant of £683,877 on ‘Developing a catchment management template for the projection of water resources’. Dr Daud Ali received £222,953 from the Arts and Humanities Research Council (AHRC) for his part in a collaboration with Dr Adam Hardy of the University of Cardiff on ‘The Indian Temple: production, place and patronage’. This is an interdisciplinary project combining architectural history with a study of medieval patronage and the role of religious institutions in the medieval state. The ‘Objects of Instruction: Treasures of SOAS’ exhibition at the Brunei Gallery was also supported by the AHRC which gave a grant of £43,000 to Dr Anna Contadini to produce the catalogue which accompanied the exhibition.

Professor Annabelle Sreberny was awarded £21,873 as a co-applicant on a project in the AHRC’s Diasporas, Migration and Identities research programme entitled ‘Tuning In: Diasporic Contact Zones at the BBC World Service’. The project is headed by Dr Marie Gillespie of the Open University and the study includes sub-projects that focus on religious trans-nationalism; the politics of translation; drama for development; sport across diasporas, and migrating music.

5SOAS Annual Report and Financial Statements 2006/2007

As part of its Religion and Society programme the AHRC granted Professor David Mosse £81,229 for a study on ‘Religion, development and the rights of subordinated people: Christianity and Dalit social action in India’. Under the same programme £25,314 was awarded to Professor Annabelle Sreberny for a project entitled ‘Framing Muslims: Structures of Representation post 9/11’.

Professor Andrew Gerstle was awarded £2,592 by the Japan Foundation Endowment Committee (JFEC) for his project entitled ‘Erotic Parodies of 18th Century Women’s Education Textbooks’. The JFEC also awarded a grant of £5,000 to Dr Lucia Dolce for a project entitled ‘The power of ritual: interdisciplinary perspectives on medieval Japanese practices’ which looks at rituals that support the ideological construction of authority and of individual empowerment.

Professor Keith Howard was awarded a grant of £32,831 from the University of London Vice-Chancellor’s Development Fund for a project entitled ‘Real, metaphoric and virtual bodies: crossing cultures and disciplines’.

The Harry Frank Guggenheim Foundation awarded Dr Laleh Khalili $20,275 for her project entitled ‘State of incarceration: sovereignty, violence & prisons in the Middle East’. Dr Khalili also received a grant of £7,500 from the British Academy for ‘Time in the Shadows: extraterritorial prisons, sovereignty and violence beyond the borders’.

At the Endangered Languages Documentation Programme (ELDP) annual panel meeting in February, SOAS was awarded a total of £151,783 for Individual Graduate Scholarships. These will cover documentation of five endangered languages: Dulong (China), Ayere (Nigeria), Seke (Vanuatu), Walungge (Nepal) and Blablanga (Solomon Islands).

During 2006/07 SOAS received British Academy grants totalling £570,298 on a wide range of subjects. Dr Harry West was awarded £71,049 for his project entitled ‘Local food in a global marketplace: artisan cheese making in the 21st century’, which looks at the future of artisan cheese makers in the global food economy. The British Academy also awarded a grant to Dr Catherine Hezser who received £41,688 to study ‘Mobility and the transfer of knowledge amongst Jews in Roman Palestine and the Diaspora’. This project considers mobility and communication and the way in which better communication networks led to greater influence and control.

Conference Grants

Conference grants included:

£2,000 from the British Academy to Dr Benedetta Rossi for a conference on ‘African Trajectories of Slavery: Perceptions, Practices, Experiences’.

The British Academy also awarded a conference grant of £5,210 to Dr Raquel Reyes for a conference entitled ‘Towards a sensory history of Southeast Asia’.

The Arts and Humanities Research Council provided £23,800 for an International Seminar of Young Tibetologists organised by Dr Brandon Dotson.

Dr Francesca Orsini received a grant of £2,000 from the British Academy for a conference entitled ‘After Timur Came: multiple spaces of cultural production and circulation in fifteenth-century North India’.

Postdoctoral Fellowships

Among various Research Fellowships received by SOAS were:

Dr Fauzia Shariff who received £65,857 from the ESRC for a postdoctoral fellowship for her project entitled ‘Inequality, Legal Pluralism and Everyday Resistance’.

Dr Anne Alexander was also awarded an ESRC fellowship of £106,275 for a project on ‘Non-governmental public action in the Middle East: historical perspectives’.

There were two British Academy Postdoctoral Fellowships: one of £198,358 to Dr Valentina Boretti for a project entitled ‘Playing for keeps: the toy culture in China 1949 - 1976’, and one of £195,738 to Dr Christina Phillips for a study of Islam and modern Arabic literature and poetry.

An Individual Postdoctoral Fellowship of £93,567 was awarded by the Endangered Languages Documentation Programme to Dr Gerardo Barbera to document the Garuwi language in South West Iran.


Teaching

Student numbers continued to grow in 2006/07 with a full-time equivalent population of 4,104 (a breakdown of student numbers can be found later in this Report). The School’s undergraduate degree student population increased by nearly 7%. The overall postgraduate degree population however fell by 7%, with 7% decreases in both taught Masters and research degree students. 1,778 students graduated (84 Research, 545 Bachelors and 1,149 Masters). Undergraduate finalists again achieved very high standards with 73% being awarded First or Upper Second Class Honours degrees.

The Learning and Teaching Unit (LTU) continued to support students through the provision of academic development workshops and subject specific sessions in core courses, multimedia training and specialist support for students with specific learning difficulties.

The undergraduate programme included workshops on essay and dissertation writing, note-taking, time-management, making presentations and critical thinking. Multimedia workshops included video production and editing audio transcription. Online support software for students with specific learning difficulties was piloted. A total of 800 undergraduate students attended the academic support workshops and 515 students attended the one-to-one tutorial support provided by trained PhD students.

The LTU continued to develop its provision for research students. A training day was organised which addressed managing a research project, preparing for fieldwork and networking. A programme of support throughout the year included Core Chapter Writing, Oral Presentation Skills and a workshop for PhD supervisors and research skills trainers in collaboration with UK Grad, a national organisation primarily funded by the UK Research Councils which supports the academic sector in embedding skills training into research degree programmes. Other activities in support of research students included the creation of communications tools via the Bloomsbury Learning Environment (see below) to help disseminate updated information and enable an exchange of ideas across faculties and departments.

The use of the Bloomsbury Learning Environment (BLE) to support students’ learning continued to grow across the School. The BLE is the first example of a cross-institutional implementation of the Blackboard virtual learning environment in the UK. All six Bloomsbury institutions, known collectively as the Bloomsbury Colleges, are now engaged with BLE development. BLE statistics indicate that it is now used in almost all departments at all levels across the School with over

260 course units and 306 staff users. A successful E-Learning Academic showcase was held in February attended by over 150 staff from across the six colleges. SOAS showcased its pilot series of Podcasts featuring the Director and Principal and senior academics talking about the links between teaching and research in their particular work.

Most academic staff use the BLE as a receptacle for course documents, such as reading lists, lecture schedules, lecture notes, and PowerPoint presentations, and also to email students. The use of discussion boards and sound files, mainly listening exercises for language courses but also recordings of lectures, is now more widespread. However, over the past year new uses have been investigated. Online learning journals, wikis and blogs have been added to the BLE, which give more opportunity for student-led content, both individually and collaboratively authored.

The School collects feedback from students on all its courses. The student evaluation of courses results for 2006/07 showed a high level of satisfaction with the School’s teaching and improvements in most areas on the previous year. The findings are reflected in the results of the National Student Survey (NSS). The NSS gathers feedback on the quality of students’ courses across the UK, to help inform the choices of future applicants to Higher Education. SOAS scored higher than the sector in the teaching on my course section and for overall satisfaction. 90% of students said that staff were good at explaining things and 91% that the course was intellectually stimulating. An additional bank of questions was piloted by the NSS in 2006. SOAS scored higher than the sector on Intellectual Motivation (82% agree) and with students feeling part of the Learning Community (74% agree).

The student evaluation of courses results for 2006/07 showed a high level of satisfaction with the School’s teaching and improvements in most areas on the previous year


The biggest improvement in the previous year’s results for student satisfaction was in the area of language provision. The School’s Centre of Excellence in the Teaching and Learning of Languages of the Wider World is a HEFCE-funded collaboration between SOAS and UCL. Its aim is to promote and support excellence in the teaching and learning of languages that do not have a large presence in UK Higher Education. The Centre continued to impact on students’ learning through dedicated support for language teachers in pedagogy and use of new learning technologies in particular.

During the year a number of workshops took place as part of the Teaching Development Programme giving staff practical ideas and advice and sharing good practice on topics such as giving feedback, managing seminars and tutorials and exploring student motivation. A one-to-one consultation pilot was also set up to facilitate and enable confidential discussions of issues arising with regard to teaching. The induction course for new Teaching Assistants was oversubscribed with just over 50 new tutors taking part.

The year’s Director’s Teaching Prize, which recognises excellence in teaching and the promotion of learning within the School, was awarded jointly to Andre Noor, Computing/statistical Officer (and Teaching Fellow), Department of Economics, and the Elementary Chinese 101/102 teaching team, convenor Ms Suen Yik and her colleagues, Department of Languages and Cultures of China and Inner Asia. Special commendation went to Dr Sian Hawthorne, Teaching Fellow in Gender Studies and Religion.


Review of Activities

The School has three faculties which, between them, include 17 departments. Some of the highlights from the last academic year are featured below. Further details and reports on all School activities can be found on the SOAS websitewww.soas.ac.uk

FACULTIES AND DEPARTMENTS

Faculty of Arts and Humanities

The Department of the Study of Religions was ranked third in the country (after Oxbridge) in The Guardian’s 2007 departmental league tables. The Department launched a new Centre for Eastern Christianity and hosted more than 100 visiting lecturers and seminars during the year through its departmental Research Centres.

As reported earlier in this Report, Dr John Campbell from the Department of Anthropology and Sociology successfully gained ERSC funding (£386K) for a two year investigation of the UK asylum system. Funding was also secured for the development of two new centres, the Centre for Food Studies and the Centre for Migration and Diaspora Studies. The Department launched a Masters level programme in the Anthropology of Food.

Preparations for a major exhibition ‘Objects of Instruction: Treasures of the School of Oriental and African Studies’ got under way in the Department of Art and Archaeology. The project has been generously funded by the Foyle Foundation and features the School’s remarkably rich but little known artistic and archival collections.

In September 2006, OpenAir Radio, directed by Professor Keith Howard from the Department of Music and with funding from the EU, joined the DISMARC Consortium, a Europe-wide coalition of archives and world music radio broadcasters who are developing metadata tools for audio searching archives. This funding enabled OpenAir to develop a new portal and an internet streaming service. The Department launched a new course, Introduction to Sound Recording. Students organised, recorded, and compiled a CD, Sounding The World. The concert series, now in its third year, continued to thrive. Highlights included a group of Japanese ritual Matsuri Bayashi musicians (funded by the AHRC Research Centre) and the premieres of new works for shakuhachi by Kiku Day. The World Music Summer School included 17 programmes, ranging from Mongolian overtone singing to classical Indian violin and Chinese opera. In July, SOAS for the first time went to World of Music and Arts Dance Festival (WOMAD). A series

of music workshops and language taster sessions attracted large crowds to the SOAS stand and almost 400 signed up for more details about SOAS degrees, language courses, and the summer school/concert programme.

Dr Daud Ali, from the Department of History, organised a conference at the University of Hyderabad, India, entitled ‘Fragrance, Symmetry and Light: the History of Gardens and Garden Culture in the Deccan’. Dr Angus Lockyer organised an international workshop at the Japan Foundation to discuss the design and operation of the British Museum’s renovated Japanese Galleries in March, bringing together scholars from museums and institutes from around the world.

Faculty of Languages and Cultures

A major conference on ‘After Timur came: Multiple spaces of cultural production and circulation in fifteenth-century North India’ was organised by the Department of the Languages and Cultures of South Asia. The conference brought together historians to rethink the last century of the North Indian sultanates, before Babur’s conquest in 1526. Professor George Hewitt of the Department of the Languages and Cultures of the Near and Middle East was awarded the Abkhazian State Order Akhjdz-Apsha (Honour & Glory) by President Sergei Bagapsh of Abkhazia during his visit to Abkhazia in August.


The Endangered Languages Academic Programme (ELAP), based within the Department of Linguistics, hosted the UK premier of the film In Languages We Live – voices of the world as part of the Endangered Languages Week at the School. The Department of the Languages and Cultures of South East Asia introduced a range of new, team-taught half unit courses to expand and thematise its provision of courses on literatures and film at both the BA and MA levels. The Department also reinstated the teaching of Khmer language.

The SOAS Language Centre celebrated its 10th Anniversary in 2006/07. For the second successive year, the Centre recruited record-breaking numbers (over 5,000 students) from a variety of backgrounds, studying over 50 languages at beginners, intermediate, advanced and diploma levels and including teacher training courses in Chinese and Japanese. Members of the Chinese teaching team also shared the 2006/07 Director’s Teaching Prize with those in the Department of the Languages and Cultures of China and Inner Asia. Language Centre activities were actively supported by the Centre of Excellence in the Teaching and Learning of Languages of the Wider World. The Centre also continued to host the London Confucius Institute, which had a varied programme of activities ranging from Chinese Cultural Days to teacher training in schools and the first ever national survey of Chinese language teaching in the UK.

The inaugural meeting of the International Seminar for Young Tibetologists was held at SOAS in August. Co-founded and organised by Dr Brandon Dotson in the Department of the Languages and Cultures of China and Inner Asia, the seminar was supported by a Research Networks and Workshops Grant from the AHRC.

Dr Lutz Marten of the Department of the Languages and Cultures of Africa was awarded a grant under the British Academy UK-Africa Academic Partnership Scheme for a project on ‘Language and Linguistic Studies of Southern African Languages’. The project will last for three years and invloves partners from SOAS, the University of Botswana, the University of KwaZulu-Natal and the University of Namibia. As part of the Centre of Excellence in the Teaching and Learning of Languages of the Wider World -funded project ‘Actual and Virtual Zulu’, an international workshop on Zulu teaching took place at SOAS in June. Participants from SOAS, the University of Leipzig, CNRS/LLACAN Paris, Leiden University and the University of the Witwatersrand discussed aspects of learners’ experiences, academic progression, and curriculum and resource development.

The burning of Sanjō Palace. Heiji Monogatari (Tale of the Heiji Insurrection) Japan, 17th century. SOAS Library


BA student intake for the Department of the Languages and Cultures of Japan and Korea continued to rise. The Japanese section carried out a full curricular review, which improved the study paths at undergraduate level, and included the reintroduction of a course on pre-modern Japanese language and literature. The Department set up new agreements with Kobe University, Kyushu University, and Kwansei Gakuin University in Japan, and the University of Seoul in Korea, to accommodate the ever increasing undergraduate student numbers for exchange programmes. Dr Jaehoon Yeon hosted the 8th International Conference on Korean Studies. Around 150 scholars attended the conference including 15 delegates from North Korea.

Faculty of Law and Social Sciences

The Department of Development Studies is the largest recruiter of students in the School and this year launched a new MSc degree in Globalisation and Development. Staff worked with international organisations such as UNDP (including special country reports on Zambia, Moldova and Uzbekistan), the World Bank and UN-ESCWA. Dr Laura Hammond held a ministerial appointment on the Advisory Panel for Country Information, an independent panel established by Parliament to review all Home Office country information documents. The late Professor Lisa Croll was appointed a Companion of the Most Distinguished Order of St Michael and St George (CMG) in the Birthday Honours List for services to Higher Education, especially in promoting understanding of China’s social development. The Centre for Development Policy and Research was relaunched with the recruitment of Professor Terry McKinley (formerly at the International Poverty Centre, UNDP).

The Department of Economics expanded its staff and curriculum including a new third year undergraduate econometrics course which was launched in response to student demand. The Department hosted three conferences during the year including the ‘Niebyl Centenary Conference’ and a two day conference on ‘Governance and Growth in Developing Countries’, jointly hosted by SOAS and the Department for International Development (DIFD).

In August the University of London postgraduate distance learning programmes, formerly taught by Imperial College, joined SOAS’ Department of Financial and Management Studies. The Centre for Development, Environment and Policy (CeDEP) offers Masters, Postgraduate Diploma and Certificate programmes in Sustainable Development, Environmental Management, Agribusiness for Development, and related

subjects for 900 part-time students enrolled across the world. Existing distance learning programmes in finance, financial law, and management are grouped as The Centre for Financial and Management Studies (CeFiMS). The total number of postgraduate distance learning students from the Department has risen from 1,500 to 2,400. This makes the Department the largest provider of fully structured postgraduate distance learning in the University of London and one of the world’s largest and strongest.

The School of Law established a Law, Environment and Development Centre and prepared for the launch of new SOAS LLM programme in September 2007. The Coulson Memorial Lecture was given by Professor Wael Hallaq of McGill University and the Centre for Law and Conflict hosted a East Timor Film and discussion in May.

Staff from the Department of Politics and International Studies undertook various consultancies including advising the Chinese government on the Darfur Crisis. Dr Tat Yan Kong and Dr Dafydd Fell gave evidence to the House of Commons Select Committee East Asia Inquiry. Dr Matthew Nelson gave evidence to the House of Commons Select Committee South Asia Inquiry. Professor Charles Tripp’s book The Moral Economy of Islam was winner of the British Society Middle East Studies prize for best book on Middle East Studies. Dr Stephen Hopgood’s book Keeps of the Flame: Understanding Amnesty International was winner of the American Political Association Prize for the best book on human rights.

The Department of Financial and Management Studies is one of the largest providers of fully structured postgraduate distance learning in the world

Review of ActivitiesContinued


REgIONAL AND INTERDISCIPLINARy CENTRES

In addition to 17 academic departments, the School has regional and interdisciplinary centres. The centres contribute to the research, learning and teaching activities of the School and have collaborative links with government bodies, the media, business and community sectors.

The Centre of African Studies hosted a conference on ‘African Trajectories of Slavery’, marking the 200th anniversary of the abolition act in the UK. The Centre continued to host beneficiaries of the Leventis Visiting Scholarship scheme for Nigerian researchers, with two scholars visiting in 2006/07. The Africa Business Group, which is run by the Centre in association with Africa Confidential, held six successful meetings on Fair Trade, African governance debates, the politics of Ethiopia/Eritrean conflict, post-war Angola, and the role of China in Africa.

The Centre of Chinese Studies Annual Lecture was given by Professor Wilt Idema from Harvard University on ‘Poetry, Gender, and Ethnicity: Manchu and Mongol Writing Women in Beijing (1775-1875)’. The Centre of Contemporary Central

Asia and the Caucasus organised a major conference on ‘Governance, Market Reforms, and Security in Central Asia and the Caucasus: Perspectives, Predicaments and Impasses’. Papers from the conference will be published in the journal Central Asian Survey.

The Japan Research Centre (JRC) received a donation of £10,000 from Tsuda Kayako. Mrs Tsuda has agreed to continue funding the activities of the JRC for the next ten years. A substantial part of this has been set side for a bursary for a final year PhD student. The remainder of the donation will fund the Centre’s Annual Tsuda lecture, and other research-related activities.

A grant from the Academy of Korean Studies has enabled the School to create two new research fellowships affiliated with the Centre of Korean Studies. SOAS is one of only four universities world-wide to receive this newly established grant.The Centre of South Asian Studies invited Professor Neera Chandhoke of the Department of Politics at the University of Delhi to speak at the Centre’s Annual Lecture on ‘Exploring the right of secession in South Asia’. Professor Chandhoke is one of India’s premier political theorists.

This year the Centre of South East Asian Studies organised 20 events, including seminars, film screenings, public lectures and workshops. Dr Thant Myint-U, Visiting Senior Fellow of the International Peace Academy and a Research Associate of the Cambridge Centre for History and Economics, gave a talk on ‘The Failure of International Policy towards Burma’. Author Karen Connelly spoke on and read from her book The Lizard Cage, a gripping and moving novel set inside a Burmese prison, which went on to win the 2007 Orange Prize for best new novel. Other events included a debate on Thai political affairs and talk on the development of modern infrastructure in South East Asia.

2006/07 marks the fourth year of operations for the London Middle East Institute (LMEI) at SOAS. The year commenced with a symposium ‘Securing Iraqis’ Futures’, the first of five events on Iraq, including a lecture in January by Iraqi Vice President Tariq al Hashimi.

The LMEI provided executive training for staff at the Department for International Development (DFID) and participated in an analysis of reform of public administration in Palestine. LMEI and SOAS Interface also provided analyses of contemporary political and security issues to the Ministry of Defence and conducted a media training programme for Saudi and Bahraini journalists for the UK Embassy in Riyadh.



OTHER DEvELOPMENTS

Development and Alumni Affairs

The Development & Alumni Affairs team organised a number of high profile events throughout the year to engage interest in and support for SOAS from leaders in the UK and international business community. These included a reception with the then Lord Mayor of London and member of SOAS Governing Body, Alderman David Brewer CMG, at the Mansion House entitled ‘SOAS Working for a Global London’. Stephen Green, Group Chairman of HSBC Holdings plc, gave a briefing on Chinese capital and Western finance at an event which was sponsored by Brunswick Group LLP.

These events have been supported by members of the SOAS International Advisory Board (IAB). Now with over 60 members, the IAB brings together men and women of influence who share the School’s vision; who understand SOAS’s contribution to scholarship; and who have agreed to help extend the School’s network of friends around the world. This year the capacity and experience of the Development Office has grown and been strengthened with the appointment of three additional Development Manager posts, specialising in Major

Gifts, Development Research and Events Management. The expansion of the team has enabled Development to play a greater role in both building and sustaining a network of support for SOAS and its vision and strategy as we move towards the centenary in 2016. The SOAS Alumni programme was significantly enhanced this year with a generous gift from Dr Mo Ibrahim to fund the soasalumni.org website. This dedicated website provides a portal for alumni not only to stay engaged with the School and to keep informed about news and events, but also provides a way for alumni to keep in touch with both SOAS and their contemporaries from their time at the School.

SOAS A Celebration in Many Voices was published this year and is available through the Development Office. With fascinating stories and insights from former and current staff and students, contemporary photographs and beautiful artwork from the SOAS archives, it chronicles the School’s extraordinary history, vibrant present and opinion-shaping future.

Library

The SOAS Library has a large and prestigious archive holding relating to the European experience in Africa and Asia and represents one of the largest collections of archival material relating to the European involvement with China in the UK. A successful bid to the Wolfson Foundation has match funded the creation of a new store and an extended and refurbished researcher reading area. This represents a valuable addition to the existing archive that comprises one of the largest and most heavily used archives in the University of London.

1�SOAS Annual Report and Financial Statements 2006/2007

IFCELS (International Foundation Courses and English Language Studies)

IFCELS prepares international students for entry to university study in the UK. Fifty IFCELS graduates are currently taking degrees at SOAS at both undergraduate and postgraduate levels. This year there was a sizeable increase in student numbers on the Intermediate Certificate Course in Comparative International Studies (ICC) with 128 students enrolled on the programme in London and 29 at Tsinghua University in Beijing. IFCELS helped the Institute for the Study of Muslim Cultures (Aga Khan University, London) in providing English language and study skills support for their first cohort of masters students and assisting with the assessment of applicants to the degree programme.

Interface

Interface provides briefings and consultancy to government, businesses and the community, matching SOAS expertise to individual client needs. Briefings were arranged for senior diplomats and development specialists from the UK, Ireland and Sweden prior to their new postings. For the first time a briefing was delivered to the Danish Ministry of Foreign Affairs in Copenhagen, where Professor Abdel Haleem provided insights on political Islam. Other new clients included CMS Cameron McKenna, FJ Cleveland and the School of Pharmacy.

The first cycle of the one-year EU-funded Executive Training Programme was coordinated by Interface and delivered by the SOAS Language Centre. Over 40 executives from all over Europe came to SOAS for three weeks of intensive Japanese and Korean language training, before heading off for further training at Waseda and Yonsei universities in Japan and Korea.

Careers Service

SOAS Careers Service supports students and graduates in all aspects of their career development. The number of students using the service doubled this year and attendance at employer events increased by 50% following a review of the events programme and marketing. Changes included an improved Graduate Jobs Fair, a new NGO Volunteering Fair, an Africa Forum, World Music Forum, Languages Forum and employer-led skills workshop series. Three years of Teaching Quality Enhancement Funding (TQEF) was secured to build a SOAS Volunteering Unit, in partnership with the Students’ Union. The Unit launched and matched its first 20 volunteers.

Student Services

Student Services organised a Disability Awareness Week which provided valuable feedback from disabled students from all areas of the School and was used to inform the Disability Equality Scheme required by law. The Department was also an active partner in the development and production of a training DVD, commissioned by the UK Council for International Students, for staff working with international students.

Students’ Union

Sports and Societies embarked on an ambitious programme of expansion. The number of registered societies increased to over 100, including 23 sports clubs. Over three quarters of SOAS students were members of at least one society.

Honorary Degrees

Honorary Doctorates were awarded to businessman Dr Mo Ibrahim and Ms Irene Khan, Secretary General of Amnesty International. An Honorary Fellowship was awarded to Professor Colin Bundy, former Director and Principal of SOAS.

Inaugural Lectures

‘The future of Christianity’Professor Paul Gifford, Professor of African Christianity

‘Children’s understanding of economics’Professor Paul Webley, Professor of Economic Psychology

‘Speaking in tongues: minority, group identity and language’Professor Itesh Sachdev, Head of the Language Centre

‘Pro-poor globalisation: an elusive concept or a realistic perspective’Professor Machiko Nissanke, Professor of Economics

‘So as to invent a media studies for the 21st century’Professor Annabelle SrebernyProfessor of Global Media and Communications



ExHIbITIONS

The SOAS brunei gallery hosts a variety of exhibitions relating to the arts and cultures of the countries of Asia, Africa and the Middle East.

This year’s exhibitions included:

‘Images from the End Game:Persia through a Russian Lens 1901 – 1914’Presented by the Iran Heritage Foundation

‘The Immensity of Spirit’A photographic exhibition of the native people of South-Eastern Siberia by Aliaksandr Ilyukevich and Darya Harnitskaya

‘A Future for the past: Petrie’s Palestinian Collection’An exhibition of the extraordinary finds made by archaeologist Sir Flinders PetriePresented with UCL

‘50,320 Names’An installation by Khalil RabahPresented by the Palestinian Museum of Natural History and Humankind

‘Positive Lives’A photographic exhibition documenting the impact of HIV and AIDS around the worldPresented by Concern Worldwide

‘Tapping into the Known’An exhibition of poetry, paintings and installations by the late poet Christopher Okigbo and his artist daughter Obi OkigboCurated by Annabelle Nwankwo - Mu’azu

‘Campaigning Against Slavery:From the 18th to the 21st Century’Presented by Anti-Slavery International as part of the events marking the 200th anniversary of Parliament’s abolition of the slave trade

‘Soho Road to the Punjab:50 Years of Bhangra, Music, Culture and Style’An exhibition exploring the traditions and heritage of Bhangra and the impact it has had on popular music culturePresented with PUNCH

‘Exposed and Hungry: Life in eastern Congo’A photographic exhibition by Susan SchulmanPresented by UH Refugee Agency and the UN World Food Programme

Further information on past, current and future exhibitions can be found on the SOAS website: www.soas.ac.uk/gallery

Forecast. Graphite, gouache, indian ink, collage on card 2002, from ‘Tapping into the Known’

A Shaman in his hat by Aliaksandr Ilyukevich. From the exhibition‘The Immensity of Spirit’


Publications

This year’s publications included:

FACULTy OF ARTS AND HUMANITIES

Department of Anthropology and Sociology

Miraculous Response: Doing Popular Religion inContemporary ChinaAdam ChauStanford University Press Lela in bali: History through celebration in CameroonRichard FardonBerghahn

Consuming China: Approaches to Cultural Change in Contemporary ChinaKevin Latham and Jakob Klein (co-edited with Stuart Thompson)Routledge

Men and Masculinities in South IndiaCaroline Osella (with Filippo Osella)Anthem Press

Muslim Society and the Western Indian OceanThe Seafarers of KachchhEdward SimpsonRoutledge

The Anthropology of Names and NamingGabriele vom Bruck (co-edited with B. Bodenhorn)Cambridge University Press

Pilgrimages and Spirituals Quests in JapanLola Martinez (co-ed with Maria Alisal and Peter Ackermann)Routledge/Curzon Modern Japanese Culture and Society (4 volumes)Lola Martinez (ed)Routledge

Department of Art and Archaeology

Early Landscapes of MyanmarElizabeth MooreRiver Books

Objects of Instruction: Treasures of the School of Oriental and African StudiesAnna ContadiniSOAS

Department of History

Cultures of Confinement: A History of the Prison in Africa, Asia and Latin AmericaIan Brown and Frank Dikötter (eds)Hurst

Powerful Learning: buddhist Literati and the Throne in burma’s Last Dynasty, 1752 - 1885Michael CharneyUniversity of Michigan

Slavery, Emancipation and Colonial Rule in South AfricaWayne DoolingUniversity of Kwazulu-Natal Press

African History: A very Short IntroductionJohn Parker and Richard RathboneOxford University Press

Department of the Study of Religions

Mapping the Path: vajrapadas in Mahayana LiteratureUlrich PagelInternational Institute for Buddhist Studies

Time in India: Concepts and PracticesAngelika Malinar (ed)Manohar

Worship of Stars in Japanese Religious PracticeLucia Dolce (ed)Culture and Cosmos

Department of Music

Zimbabwean Mbira Music on an International StageKeith Howard and Chartwell DutiroAshgate Publishing

Ritual Music of North ChinaStephen JonesAshgate Publishing


The Department of Music also published two new CDs and three DVDs:

Lovers of beautyLila ChitaSOASIS-11

Sounding The WorldSOASIS-12

Performing Konarak, Performing Hirapur: Documenting the Odissi of guru Surendranath Jena

Interpreting and Reconstructing Indonesian Dance and Music Heritage

Doing Things: Ceremonial and Music in Rural North China

FACULTy OF LANgUAgES AND CULTURES

Department of the Languages and Cultures of Africa

African-language writing, special issue of Research inAfrican LiteraturesGraham Furniss and Karin Barber (eds)Indiana University Press

Papers in bantu grammar and DescriptionLaura Downing, Lutz Marten and Sabine Zerbian (eds) ZAS

Hagarlaawe: Diiwaanka Maansooyinka Maxamed xaashi Dhamac `gaarriye’ (The Sincere One: The Collected Poems of Maxamed xaashi Dhamac `gaarriye’)Maxamed Xasan `Alto’, Martin Orwin and Yaasiin Jaamac Nuux `Suldaan’ (eds)Aftahan Publications

Department of the Languages and Cultures ofChina and Inner Asia

Literature and the Practice of Resistance: Japanese and Taiwanese Fiction, 1960-1990Margaret HillenbrandBrill

Department of the Languages and Cultures ofJapan and Korea

Onna shimegawa oeshi-bumi (Love Letters and Erect Precepts for Women)Andrew Gerstle (ed and trans)Nichibunken series, Kinsei enpon shiryô shûsei, no. IV

Department of the Languages and Cultures ofthe Near and Middle East

Rituale und beschwörungen gegen Schadenzauber (Keilschrifttexte aus Assur literarischen Inhalts vol. 2 = Wissenschaftliche veröffentlichungen der Deutschen Orient-gesellschaft vol. 117)Daniel SchwemerHarrassowitz What do Zionists believe?Colin ShindlerGranta

Department of the Languages and Cultures ofSouth East Asia

The Portrayal of Foreigners in Indonesian and Malay Literatures: Essays on the Ethnic ‘Other’Ben Murtagh and Vladimir Braginsky (eds)Edwin Mellen Press

...And sails the boat downstream; Malay Sufi poems of the boatVladimir BraginskyUniversity of Leiden

Department of Linguistics

bantu in bloomsbury: Special Issue on bantu LinguisticsNancy C. Lula and Lutz Marten (eds)SOAS Working Papers in Linguistics Volume 15

Atlas of the World’s Languages (2nd Edition)R. E. Asher and Christopher Moseley (eds)Routledge

PublicationsContinued


Language Centre

Chinese in Steps II: for speakers of Chinese as a foreign languageGeorge Zhang, L Li and Lik SuenCypress Books

Advanced business Chinese IGeorge Zhang, L Li and Lik SuenCypress Books

FACULTy OF LAW AND SOCIAL SCIENCES

Department of Development Studies

Afghan women: Identity and InvasionElaheh Rostami-PoveyZed Books

Political Economy of brazil: Recent Economic PerformanceAlfredo Saad-Filho and Philip Arestis (eds)Palgrave

Aiding Peace? The Role of NGOs in Armed ConflictJonathan GoodhandITDG Publishing

Department of Economics

The Impact of globalization on the World’s Poor: Transmission MechanismsMachiko Nissanke (co-ed)Palgrave Macmillan

Colonial Legacies: Economic and Social Development in East and Southeast AsiaProfessor Anne BoothUniversity of Hawaii Press

Privatization and Alternative Public Sector reform in Sub-Saharan Africa, Delivering on Electricity and WaterBen Fine and Kate Bayliss (eds)Palgrave Macmillan

Department of Politics and International Studies

Kazakhstan: Ethnicity, Language and PowerBhavna DaveRoutledge

The Moral Economy of IslamCharles TrippCambridge University Press

Keepers of the Flame: Understanding Amnesty InternationalStephen HopgoodCornell University Press

Heroes and Martyrs of Palestine: The Politics of National Commemoration Laleh KhaliliCambridge University Press

grasping Africa: A tale of Achievement and TragedyStephen ChanI.B. Tauris

Department of Law

Multinational Enterprises and the LawPeter MuchlinskiOxford University Press

Women and Muslim Family laws in Arab States:A comparative overview of textual development and advocacyLynn WelchmanAmsterdam University Press

Securities Dispute Resolution in ChinaSanzhu ZhuAshgate


Facts and figuresStudents

Postgraduate Studentsat SOAS

Postgraduate numbers wew 1,389 in 2006/07 compared with 1,488 in 2005/06 for those studying at SOAS for internal degrees. In addition, there were 1,440 Postgraduates studying through part-time distance education

Undergraduates and Postgraduates by subject group

Languages and related disciplines 27%

Humanities 28%

Social Sciences 45%

Number of Studentsat SOAS

Undergraduate 2,222Postgraduate 1,389Special Programmes(Diplomas & Certificates) 320Other 173

The full-time equivalent population for 2006/07 was 4,104. This number includes Foundation course students, of which there were 248 in 2006/07. It excludes distance education students

0

2,750

3,000

3,250

3,500

3,750

4,000

02/0

3

03/0

4

05/0

6

Num

ber of students

04/0

5

06/0

7

01/0

2

00/0

1

99/0

0

4014

0

1,000

1,125

1,250

1,375

1,500

02/0

3

03/0

4

05/0

6

Num

ber of students (full time equivalents)

04/0

5

06/0

7

01/0

2

00/0

1

99/0

0

1,38

9

Postgraduate Students in External Programmes

0

500

750

1,000

1,250

1,500

02/0

3

03/0

4

05/0

6

Num

ber of students

04/0

5

06/0

7

01/0

2

00/0

1

99/0

0

1,44

0

Undergraduates and Postgraduates by origin

Students graduating duringthe year

Other European 2%Africa 3%Near and Middle East 3%Americas 7%Asia Pacific 13%UK/EU 72%

Student body by Origin28% of Undergraduautes and Postgradutes were from outside the EU

Research 84

bachelors 545

Masters 1,149


Facts and figuresFinances

Tuition Fee Income HEFCE Grants

99/0

0

00/0

1

01/0

2

02/0

3

03/0

4

0

5

7

9

11

13

15

04/0

5

05/0

6

06/0

7£1

6.2m

Income Expenditure

99/0

0

00/0

1

01/0

2

02/0

3

03/0

4

0

20

25

30

35

40

45

04/0

5

05/0

6

06/0

7£4

7.1m

NB: 99/00 and 00/01 income figures include extraordinary profits on the sale of student residencies

Income 2006/200� Expenditure 2006/200�

Other £8m

HEFCE grants £16.2m

Tuition Fee £23.3m

Other £14.1m

Depreciation and Interest £2.5mStaff Costs £30.4m

99/0

0

00/0

1

01/0

2

02/0

3

03/0

4

0

20

25

30

35

40

45

04/0

5

05/0

6

06/0

7£4

7.6m

99/0

0

03/0

4

04/0

5

05/0

6

0

10

12.5

15

17.5

20

22.502

/03

01/0

2

00/0

1

06/0

7£2

3.3m


Patron: Her Majesty the Queen

President: Baroness Helena Kennedy QC

Visitor: The Rt Hon Sir Anthony Evans QC BA MA LLM

Chair: Lady Judge BA JD(Chairman, United Kingdom Atomic Energy Authority)

Vice Chair: Professor M A Knibb FBA(Samuel Davidson Professor Emeritus (Old Testament Studies), King’s College)

Honorary Treasury: Mr M French BSC FCA(Former Partner, PricewaterhouseCoopers)

The Director & Principal of the School:Professor P Webley BSC PHD

The Lord Bagri CBE(Chairman, Metdist Group of Companies)

Professor S Bassnett BA PHD(Pro-Vice Chancellor and Professor of Comparitive Literature at the University of Warwick)

Mr A Bhanji(PricewaterhouseCoopers)

Mr D W Brewer CMG(International Financial Services, London)

Professor J Brown MA PhD(Hon Doc Soc Science (Natal), Beit Professor of Commonwealth History, Balliol College, Oxford)

Professor S Chan BA MA PhD(Dean, Faculty of Law & Social Sciences)

Professor C Clunas MA PHD FBA(Department of Art and Archaeology)

Professor E J Croll MA MA PhD(Vice-Principal External Affairs and Department of Development Studies)

Professor R Finnegan DPHIL FBA (The Open University)

Mr J Footitt BA (LONDON)

Mr J Hughes-Hallett (Chairman, John Swine and Sons Ltd)

Professor B Ingham BA PHD (Department of the Languages and Cultures of the Near and Middle East)

Governing Body

Sir David G John KCMG(Chairman, Premier Oil plc)

Professor N D Khalili BA PhD(Founder, Khalili Collection)

Mr K Kutay BSC MSC(Managing Director, Morgan Stanley and Co International Ltd)

Professor D Latchman MA PHD DSC FRCPATH(Master of Birkbeck College)

Mr P Lea-Wilson FCA(Former Partner, PricewaterhouseCoopers)

Mr A Lloyd BSC (Director Africa, FCO)

Dr D Martinez BA DIPSOCANTH DPHIL(Department of Anthropology and Sociology)

Mr R D A Pick BA MA(Former Partner of Baker & McKenzie)

Professor P G Robb BA PHD FRHISTS(Pro-Director and Department of History)

Ms C Solomon (Co-President Finance and Communications Students’ Union)

Professor B R Tomlinson MA PhD(Dean, Faculty of Arts & Humanities)

Dr L Welchman MA PHD (Department of Law)

Ms E Wright BA MA(Chair, the Advisory Board of the China Policy Institute, University of Nottingham)

Clerk to Govening Body: Mr F L Dabell BA

Lay members of the Governing Body committees:

Finance and General Purposes Committee:Mr D C G Brown, Mr K Kutay, Ms E Wright, Ms J Embling

Estates Committee:Mr M O’Hara, Mr D C G Brown & Ms R Jermy

Audit Committee:Mrs J Ross, Mr A Bhanji & Sir David John

School of Oriental and African Studies

Financial Statements2006/2007


200� 2006

£’000 £’000

Operating income 47,596 45,137

Operating expenditure (46,204) (44,517)

Operating surplus before depreciation of premises 1,392 620

Depreciation of premises at historical cost (739) (657)

Operating surplus/(deficit) after depreciation of premises 653 (37)

Transfer from specific endowments (63) (38)

Result for the year on a historical cost basis 590 (75)

Difference between historical cost depreciation and the actual charge for the period

(204) (204)

Result for the year retained within general reserves �86 (2��)

Treasurer’s Report

Result for the Year

The result for the year to 31st July 2007 after historical cost and revalued premises depreciation is shown below:

The School made a surplus of £386,000 in the year ended 31 July 2007 compared with a deficit of £279,000 in the year ended 31 July 2006.

Income

Total operating income increased by 5.4% (2006: 6.3%) compared with the previous year. Recurrent grants from the Higher Education Funding Council for England (HEFCE) rose by 6.2%, principally through higher research grant, up 9.6%. Income from tuition fees increased by £2,455,000, up 11.8% (2006: 6.1%). Of this £958,000 arose as a result of the introduction of variable undergraduate tuition fees and strong growth in undergraduate overseas numbers produced volume growth of £574,000. Income from research grants and contracts decreased 15.3% (2006: decreased 5.0%).

Expenditure

Operating expenditure increased by 3.8% (2006: 6.8%). Staff costs increased by 8.6% (2006: 5.8%), a higher rate than would otherwise be expected due to the necessity of providing for the cost of backdating the introduction of the new pay framework and the implementation of job evaluation to 1 August 2006. While reported operating costs fell by 5.0% (2006: increase of 7.9%), once one off cost savings are stripped out, underlying costs increased by 0.5%. Operating efficiencies have contributed to this low underlying rate of growth but can not in future be relied upon to keep overall operating expenditure at acceptable levels. The School is therefore focused on acheiving a sustainable level of growth in staff costs in relation to income growth.


Investment Performance

The School’s investments continued to perform well during the year. Benefitting from continuing strength in global stock markets, the market value of invested endowment funds increased from £21,438,000 to £23,236,000 at 31 July 2007, following capital appreciation of 8.3% (2006: 9.0%). The Investment Committee continues to monitor the performance of the investment managers, Newton, by reference to a charities fund index. Income generated from the portfolio in the year was £775,000 (2006: £742,000).

Capital Projects

Capital expenditure amounted to £5,194,000 in the year (2006: £5,889,000).

During the year the School purchased the leasehold of 21-22 Russell Square, which has been refurbished to allow for occupation from November 2007. The Refurbishment of the ground floor and lecture theatre within the Brunei Gallery was completed during the year.

Cash Flow

Setting aside movements in creditor and debtor balances, cash inflow from operating activities for the year was £1,053,000 (2006: £327,000). The School drew down £2,000,000 from its existing loan facility and chose to opt for a two year repayment holiday on this and a refinanced loan of £7,437,000, hence loan repayments fell to £295,000 (2006: £619,000).

The School had £3,446,000 on deposit at the year end (2006: £1,171,000). The overall effect of these movements is that the School’s net debt has been reduced to £6,361,000 (2006: £6,974,000).

Conclusion

The year has seen an improvement in the operational performance of the School, with a return to operating surplus. While this a welcome result there remains some way to go before the School reaches its target surplus of 3% of income.

The School through the appointment of a new Director and Principal and a new Registrar and Secretary has undertaken a full review of strategic planning during the year. The development of the Vision and Strategy for the Centenial has set out a clear strategic direction for the School. The strategic objectives identified, are reflected in a suite of sub strategies covering all elements of academic and administrative planning. Following a year of planning, the School is now set to implement those actions identified within the strategies. As outlined in the financial strategy, the School shall seek to expand its income generating activities while maintaining control of costs.

I intend to work closely with the School’s executive officers, Finance and Planning Committee and Governing Body to ensure the succesful implementation of the new strategic plan and the acheivement of the targets set out in the accompanying financial strategy.

Mr M FrenchHonorary Treasurer

14 December 2007


Corporate Governance

The School is committed to exhibiting best practice in all aspects of corporate governance. This summary describes the manner in which the School has applied the principles set out in Section 1 of the Combined Code on Corporate Governance issued by the London Stock Exchange in June 1998. Its purpose is to help the reader of the financial statements understand how the principles have been applied.

The School’s Governing Body is responsible for the School’s system of internal control and for reviewing its effectiveness. Such a system is designed to manage rather than eliminate the risk of failure to achieve business objectives and can only provide reasonable and not absolute assurance against material misstatement or loss.

The Governing Body is of the view that there is an ongoing process for identifying, evaluating and managing the School’s significant risks that has been in place for the period covered by the Annual Report and Financial Statements. This process is regularly reviewed by the Audit Committee on behalf of the Governing Body and accords with the internal control guidance for directors on the Combined Code as deemed appropriate for higher education. The identification and management of risk, as detailed in the School’s risk register, is linked to the achievement of institutional objectives. The approach to internal control is risk-based and prioritises actions to be taken against an evaluation of the likelihood and impact of risks becoming a reality. Review procedures cover business, operational and compliance as well as financial risk. On behalf of the Governing Body, the Audit Committee receives regular reports during the year on internal control and risk. The principal results of risk identification, evaluation and management review are reported to the Governing Body in the form of an updated risk register.

The School’s Governing Body comprises lay members and academics appointed under the Charter of the School. The matters specifically reserved to the Governing Body for decision are set out in the Charter of the School, by custom and under the Financial Memorandum with the Higher Education Funding Council for England. The Governing Body holds to itself the responsibilities for the ongoing strategic direction of the School, approval of major developments and the receipt of regular reports from executive officers on the day to day operations of the School.

The Governing Body meets three times a year. It has a Resources and Planning Committee, a Senior Staff Remuneration Committee and an Audit Committee, all of which have significant lay membership. All of these committees are

formally constituted with terms of reference. The Finance and General Purposes Committee was replaced and re-constituted, from the 2007/2008 academic session onwards, as the Resources and Planning Committee.

The Resources and Planning Committee meets three times a year. It recommends to the Governing Body the annual budget and monitors its performance. It evaluates and recommends capital expenditure programmes and keeps the estates strategy under review through a sub-committee. It reviews the School’s corporate plan annually in terms of progress against objectives and it develops guidance and recommendations for the future.

The Audit Committee meets three times a year and reports directly to the Governing Body. It receives the annual accounts from the School’s management with a report from the external auditors. It has responsibility, delegated by the Governing Body, to implement the School’s risk management strategy, the aim of which is to ensure that the Governing Body is aware of significant risks and receives assurance that these risks are being properly managed. The Audit Committee has put in place a strategy that complies with the Turnbull Committee guidance on internal control. In addition, it agrees the annual internal audit programme and receives regular internal audit reports.

The Executive Board receives reports setting out key performance and risk indicators and considers possible control issues brought to their attention by early warning mechanisms which are embedded within the operational units and reinforced by risk awareness training. The Executive Board and the Audit Committee also receive regular reports from internal audit and from the Health and Safety Committee which include recommendations for improvement. The Audit Committee’s role in this area is confined to a high level review of the arrangements for internal financial control. The Governing Body’s agenda includes a regular item for consideration of risk and control and receives reports thereon from the Executive Board and the Audit Committee. The emphasis is on obtaining the relevant degree of assurance and not merely reporting by exception. The risk register was updated in February 2007, it will be reviewed by the Governing Body at the December meeting.

Members of the academic staff and student representatives are members of the Governing Body and the Resources and Planning Committee. Under the terms of the Charter, the Governing Body is required to seek the advice of the Academic Board on certain matters.


Statement ofGovernors’ ResponsibilitiesIn accordance with the School’s Royal Charter of Incorporation the Governing Body is responsible for the administration and management of the School’s affairs, including ensuring an effective system of internal control and is required to present audited financial statements for each financial year.

The School’s Governing Body is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the School and enable it to ensure that the financial statements are prepared in accordance with the Royal Charter, the Statement of Recommended Practice: Accounting in Further and Higher Education and other applicable United Kingdom law and accounting standards (United Kingdom Generally Accepted Accounting Practice). In addition, within the terms and conditions of a Financial Memorandum agreed between the Higher Education Funding Council for England and the Governing Body of the School, the Governing Body, through its designated office holder, is required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the School and of the surplus or deficit and cash flows for that year.

In causing the financial statements to be prepared, the Governing Body has to ensure that:

a) suitable accounting policies are selected and applied consistently;

b) judgements and estimates are made that are reasonable and prudent;

c) applicable accounting standards have been followed;

d) the School has adequate resources to continue in operation for the foreseeable future and for this reason the going concern basis continues to be adopted in the preparation of financial statements.

The Governing Body has taken reasonable steps to:

a) ensure that funds from the Higher Education Funding Council for England are used only for the purposes for which they have been given and in accordance with the Financial Memorandum with the Higher Education Funding Council for England, the Education Reform Act 1988 and any other conditions which the Funding Council may from time to time prescribe;

b) ensure that there are appropriate financial and management controls in place to safeguard public funds and funds from other sources;

c) safeguard the assets of the School and to prevent and detect fraud;and

d) secure the economical, efficient and effective management of the School’s resources and expenditure.

The key elements of the School’s system of internal control, which is designed to discharge the responsibilities set out above, include the following:

a) clear definitions of the responsibilities of, and the authority delegated to, heads of academic and administrative departments;

b) a comprehensive medium and short term planning process, supplemented by detailed annual income, expenditure, capital and cash flow budgets;

c) regular reviews of academic performance and monthly reviews of financial results involving variance reporting and updates of forecast outturns;

d) clearly defined and formalised requirements for approval and control of expenditure, with investment decisions involving capital or revenue expenditure being subject to formal detailed appraisal and review according to approval levels set by the Governing Body;

e) comprehensive Financial Regulations, detailing financial controls and procedures, approved by the Audit Committee and the Governing Body; and

f) a professional Internal Auditor whose annual programme is approved by the Audit Committee and endorsed by the Governing Body provides the Governing Body with a report on internal audit activity within the School and an opinion on the adequacy and effectiveness of the School’s system of internal control.

Any system of internal financial control can, however, only provide reasonable, but not absolute, assurance against material misstatement or loss.


Independent Auditors’ Reportto the Governing Body of the School of Oriental and African Studies

We have audited the financial statements of the School of Oriental and African Studies for the year ended 31 July 2007 which comprise the income and expenditure account, the statement of total recognised gains and losses, the statement of historical cost surpluses and deficits, the balance sheet, the cash flow statement, the reconciliation of net cash flow to movement in net debt and the related notes 1 to 27. These financial statements have been prepared under the accounting policies set out therein.

This report is made solely to the Governing Body of the School, as a body, in accordance with the Financial Memorandum dated July 2006. Our audit work has been undertaken so that we might state to the members of the Governing Body those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilty to anyone other than the Governing Body and the Governing Body’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of the Governing Bodyand auditors

As described in the statement of Governors’ responsibilities, the Governing Body is responsible for the preparation of the financial statements in accordance with the School’s statutes, the Statement of Recommended Practice: Accounting for Further and Higher Education and other applicable United Kingdom law and accounting standards (United Kingdom Generally Accepted Accounting Practice).

Our responsibility is to audit the financial statements in accordance with relevant United Kingdom legal and regulatory requirements and International Standards on Auditing (UK and Ireland).

We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Statement of Recommended Practice: Accounting for Further and Higher Education.

We also report whether income from funding bodies, grants and income for specific purposes and from other restricted funds administered by the School have been properly applied only for the purposes for which they were received and whether income has been applied in accordance with the Statutes and, where appropriate, with the Financial Memorandum with the Higher Education Funding Council for England. We also report if, in our opinion, the Governing Body’s report is not consistent with the financial statements, if the School has not kept proper accounting records, the accounting records do not agree with the financial statements or if we have not received all the information and explanations we require for our audit.

We read the other information contained in the Governing Body’s report, including the corporate governance statement, and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements.

Basis of audit opinion

We conducted our audit in accordance with International Standards on Auditing issued by the Auditing Practices Board and the Audit Code of Practice issued by the Higher Education Funding Council for England. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the Governing Body in the preparation of the financial statements and of whether the accounting policies are appropriate to the School’s circumstances, consistently applied and adequately disclosed.

We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial statements.


Opinion

In our opinion:

a) the financial statements give a true and fair view of the state of the affairs of the School as at 31 July 2007 and of the surplus of the School for the year then ended and have been properly prepared in accordance with the Statement of Recommended Practice: Accounting for Further and Higher Education;

b) in all material respects, income from the Higher Education Funding Council for England, grants and income for specific purposes and from other restricted funds administered by the School have been applied only for the purposes for which they were received;

c) in all material respects, income has been applied in accordance with the School’s statutes and, where appropriate, with the Financial Memorandum , dated July 2006 with the Higher Education Funding Council for England.

DELOITTE & TOUCHE LLPChartered Accountants and Registered AuditorsSt Albans


Statement ofPrincipal Accounting Policies1. Basis of Preparation

These financial statements have been prepared in accordance with both the Statement of Recommended Practice (SORP): Accounting for Further and Higher Education 2003 and applicable United Kingdom accounting standards.

Consolidated accounts have not been prepared as the subsidiary undertaking, SOAS International Limited, has been dormant since incorporation. In accordance with FRS2, the activities of the Students’ Union have not been consolidated because the School does not exercise control over those activities.

2. Accounting Convention

The Financial Statements have been prepared under the historical cost convention as modified by the revaluation of endowment asset investments and certain land and buildings for which the cost is not readily ascertainable.

�. Recognition of Income

Income from research grants, contracts and other services rendered is included to the extent of the completion of the contract or service concerned. This is generally equivalent to the sum of the relevant expenditure incurred during the year and any related contributions towards overhead costs.

All income from short-term deposits is credited to the income and expenditure account in the period in which it is earned.

Income from endowments is credited to the income and expenditure account in the period in which it is earned. Income from specific endowments not expended in accordance with the restrictions of the endowment is transferred from the income and expenditure account to specific endowments.

Recurrent grants from the Funding Council are recognised in the period in which they are receivable.

Non-recurrent grants from the Funding Council or other bodies received in respect of the acquisition or construction of fixed assets are treated as deferred capital grants and amortised in line with depreciation over the life of the assets.

4. Pension Schemes

Retirement benefits for most employees of the School are provided by the Universities Superannuation Scheme (USS) and the Superannuation Arrangements of the University of London (SAUL). These are defined benefit schemes which are externally funded and contracted out of the State Earnings Related Pension Scheme. Contributions to the scheme are determined by qualified actuaries on the basis of triennial valuations using the Projected Unit method. Reviews of the scheme position are carried out in the period between valuations.

It is not possible to identify the School’s share of the underlying assets and liabilities of the schemes. Therefore contributions are accounted for as if the schemes were defined contribution schemes and pension costs are based on the contributions payable in the year. Differences between contributions payable and contributions paid are shown as other accruals or prepayments on the balance sheet.

5. Land and Buildings

Properties under development are accounted for at cost. Buildings are depreciated at 1 or 2 percent per annum in accordance with the School’s estimate of their useful economic life. Building refurbishments are depreciated at 5 or 10 percent per annum depending upon estimates of their useful economic life. Freehold land is not depreciated as it is considered to have an indefinite useful life.

Where land and buildings are acquired with the aid of specific grants, they are capitalised and depreciated as above. The related grants are credited to a deferred capital grant account, and are released to the income and expenditure account over the expected useful economic life of the related asset on a basis consistent with the depreciation policy

Interest costs incurred in the course of constructing properties are capitalised as part of the cost of the relevant asset.

The School has taken advantage of the transitional provisions of FRS15 Tangible fixed assets and retained the book value of the long leasehold land and buildings which were revalued prior to that standard.

The properties were last revalued at £24,250,000 and the valuations have not subsequently been updated.


6. Equipment

Equipment costing less than £10,000 is written off in the year of acquisition. All other equipment is capitalised, stated at cost, and depreciated over its expected useful life as follows:

Computer equipment - 4 yearsFurniture - 4 yearsCapital projects - 5-10 years

Where equipment is acquired with the aid of a specific grant it is capitalised and depreciated as above. The related grant is treated as a deferred capital grant and released to income over the expected useful life of the equipment.

�. Operating leases

Costs in respect of operating leases are charged over the term of the lease on a straight line basis, even if the payments are not made on such a basis.

8. Investments

Endowment asset investments are included in the balance sheet at market value.

�. Cash Flow and Liquid Resources

Cash flows comprise increases or decreases in cash. Cash includes cash in hand, deposits repayable on demand and overdrafts. Deposits are repayable on demand if they are in practice available within 24 hours without penalty. No investments, however liquid, are included as cash.

Liquid resources comprise assets held as a readily disposable store of value. They include term deposits, government securities and loan stock held as part of the School’s treasury management activities. They exclude any such assets held as endowment asset investments.

10. Bank Borrowings

Interest bearing bank loans and overdrafts are recorded at the value of the proceeds received, net of direct issue costs. Finance charges are accounted for on an accrual basis in the income and expenditure account using the effective interest method.

11. Maintenance of Premises

The School has a five-year rolling maintenance plan that is reviewed on an annual basis. The cost of long term and routine corrective maintenance is charged to the income and expenditure account as incurred.

12. Taxation Status

The School is an exempt charity within the meaning of Schedule 2 of the Charities Act 1993 and as such is a charity within the meaning of Section 506 (1) of the Taxes Act 1988. Accordingly, the School is potentially exempt from taxation in respect of income or capital gains received within categories covered by Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied to exclusively charitable purposes. The School receives no similar exemption in respect of Value Added Tax.

1�. Reserves

Specific endowment reserves are established by benefactors of the School. These funds may only be used for the purposes specified by the donor.

General endowment reserves may be used by the School for any purpose that is within the School’s powers.

14. Restatement of comparatives

In 2005/06 £238,000 of research income from the British Academy was incorrectly disclosed as UK based charity income. This income has been disclosed as Research councils income in the 2006/07 comparatives.

�0 SOAS Annual Report and Financial Statements 2006/2007

Income and Expenditure AccountFor the year ended 31 July 2007

Note 200� 2006

£’000 £’000

Income

Funding Council grants 1 16,212 15,321

Tuition fees 2 23,312 20,857

Research grants and contracts 3 3,006 3,547

Other income 4 3,958 4,330

Endowment and investment income 5 1,000 974

Deferred capital gifts released 6 108 108

Total Income 4�,5�6 45,1��

Surplus / (deficit) on continuingoperations after depreciation of fixed assets at valuation - before and after tax 449

(241)

Transfer to accumulated income within specific endowments

19 (63) (38)

Surplus / (deficit) for the year retained within general reserves

�86

(2��)

Expenditure

Staff costs 7 30,303 27,905

Exceptional restructuring costs 7 186 279

Other operating expenses 8 14,134 14,879

Interest payable 9 428 478

Depreciation - equipment 12 1,153 976

- premises 12 943 861

Total Expenditure 4�,14� 45,��8

The income and expenditure account is in respect of continuing activities.

Statement of Historical Cost Surpluses and DeficitsFor the year ended 31 July 2007

Note 200� 2006

£’000 £’000

Surplus / (deficit) after depreciation of assets at valuation and disposal of assets before and after tax

449 (241)

Difference between historical cost depreciation and the actual charge for the period calculated on the revalued amount

20 204 204

Historical cost surplus / (deficit) for the period before and after tax

65�

(��)

�1SOAS Annual Report and Financial Statements 2006/2007

Statement of Total Recognised Gains and LossesFor the year ended 31 July 2007

Note 200� 2006

£’000 £’000

Surplus / (deficit) on continuing operations after depreciation of assets at valuation and tax

449 (241)

Appreciation of endowment asset investments

19 1,769 1,671

New endowments less capital withdrawals

19 (34) 137

Movement in Percival David Foundation collection insurance fund

21 8 8

Total recognised gains relating to the year 2,1�2 1,5�5

Reconciliation

Opening reserves and endowments 52,480 50,905

Total recognised gains and losses for the year

2,192 1,575

Closing reserves and endowments 54,6�2 52,480


��SOAS Annual Report and Financial Statements 2006/2007

Balance SheetAs at 31 July 2007

Note 200� 2006

£’000 £’000

Fixed assets Tangible assets 12 63,729 60,631

Endowment asset investments 14 23,236 21,438

Current assetsDebtors 15 1,683 2,291 Short term deposits 2,401 50 Cash at bank and in hand 1,045 1,121

5,129 3,462

Creditors: amounts falling due within one year 16 (13,275) (10,786)Net current liabilities (8,146) (7,324)Total assets less current liabilities 78,819 74,745

Creditors: amounts falling due after more than one year 17

(9,758)

(7,949)

Net assets 69,061 66,796

Deferred capital gifts and grants 18 14,389 14,316

EndowmentsSpecific 19 13,123 12,079 General 19 10,113 9,359

23,236 21,438

ReservesRevaluation Reserve 20 17,283 17,487 General Reserve 21 14,153 13,555

Total Reserves 31,436 31,042

Total 6�,061 66,��6

The financial statements on pages 28 to 51 were approved by the Governing Body on14 December 2007 and signed on its behalf by :

Mr M FrenchHonorary Treasurer

Mr G ApplebyDirector of Finance

Professor P WebleyDirector and Principal


Cash Flow StatementFor the year ended 31 July 2007

Note 200� 2006

£’000 £’000

Cash flow from operating activities 23 4,254 (82)

Returns on investments and servicing of finance

24 572 496

Capital expenditure and financial investment

24 (4,213) (228)

Management of liquid resources 24 (2,351) 1,006

Financing 24 1,705 (619)

(Decrease) / Increase in cash in the period (��) 5��

Reconciliation of net cash flow to movement in net debt

(Decrease) / increase in cash (33) 573

Cash inflow from / (outflow to) long term mortgages

24 (1,705) 619

Cash (outflow to) / inflow from short term deposits

24 2,351 (1,006)

Change in net debt 613 186

Net debt at 1 August (6,974) (7,160)

Net debt at �1 July 25 (6,�61) (6,��4)

�5SOAS Annual Report and Financial Statements 2006/2007

Notes to the Accounts

1. Funding council grants 200� 2006

£’000 £’000

Recurrent grants Teaching 6,834 6,342 Research 6,573 6,000 Libraries, museums and galleries 1,105 1,324

Specific grants Chinese studies 41 91

Other specific grants 839 891

Release of deferred capital grants 820 673

16,212 15,�21

2. Tuition fees 200� 2006

£’000 £’000

Full-time students - UK and European Union 6,018 4,480

Full-time students charged overseas fees 9,001 8,484

Part-time students 782 936

Full fee students 7,511 6,957

2�,�12 20,85�

�. Research grants and contracts 200� 2006as restated

£’000 £’000

Research councils 1,446 1,696

UK based charities 640 1,014

European Commission 38 11

Other grants and contracts 882 826

�,006 �,54�

In 2005/2006 £238,000 of research income from the British Academy was incorrectly disclosed as UK based charity income. This income has been disclosed as Research councils income in the 2006/2007 comparitives.


Notes to the AccountsContinued

4. Other income 200� 2006

£’000 £’000

Rent receivable 5 62

Room lettings 603 595

Library fees 141 125

Accommodation, catering and conferences 1,193 1,245

Resales and reimbursements 329 382

Scholarships, donations and other funded activities 968 777

Briefings and consultancy 312 492

Other income 407 652

�,�58 4,��0

5. Endowment and investment income Note 200� 2006

£’000 £’000

Income from specific endowments 19 436 420

Income from general endowments 19 339 322

Interest on short term deposits 225 232

1,000 ��4

6. Deferred capital gifts released 200� 2006

£’000 £’000

Release in respect of depreciation of Brunei Gallery

88 88

Release in respect of depreciation of Khalili Lecture Theatre

20 20

108 108


�. Staff Note 200� 2006

£’000 £’000

Staff costsWages and salaries 25,438 23,279 National insurance / social security costs 2,092 2,007 Pension costs 26 2,773 2,619

�0,�0� 2�,�05

Exceptional restructuring costsThe costs of the early retirement and voluntaryseverance scheme amounted to :

186

279

Accruals for compensation to senior employees whose posts were restructured totalled £101,000 (2006: £10,000). This has been funded by vacancy savings.

Average full time equivalent staff numbers by major category : 200�Number

2006Number

Academic 383 391 Support 260 264

64� 655

200�£

2006£

Remuneration of the Director and Principal for the year 140,689 136,668

The remuneration of the Director and Principal excludes employer’s national insurance contribution of £16,301 (2006: £15,856), and employer’s pension contribution which is paid at the same rate as for other academic and related staff, and amounted to £19,697 (2006: £16,234).

The number of other higher paid staff who received emoluments (excluding employer’s national insurance and pension contributions) in the following ranges was:

200�Number

2006Number

£70,000 - £79,999 9 4

£80,000 - £89,999 3 2

£90,000 - £99,999 1 -



8. Other operating expenses 200� 2006

£’000 £’000

Research grants and contracts 912 988

Agency staff 1,458 1,591

Teaching and course development 510 1,017

Fellowships, scholarships and other fees 1,297 1,213

Published materials 1,091 1,307

Information technology 710 686

Marketing and student recruitment costs 551 551

Student related costs 504 493

Grant to SOAS students’ union 57 55

Grant to university of london students’ union 64 65

Conferences and catering 682 762

Consumables 228 224

Furniture and equipment 101 136

Hire of plant and equipment - operating leases 708 659

Repairs and maintenance 520 513

Rent, rates and insurance 368 363

Heat, water and power 490 541

Security, caretaking and cleaning 1,251 1,204

Telecommunications and postage 455 424

Staff recruitment and development 528 462

Professional fees 361 216

Auditor’s remuneration - audit fee 31 32

Auditor’s remuneration - other - 6

Legal fees 86 295

Other expenses 1,171 1,076

14,1�4 14,8��


�. Interest payable 200� 2006

£’000 £’000

Loans not wholly repayable within five years 406 429

Loans wholly repayable within five years 22 49

428 4�8

10. Analysis of expenditureby activity

Staff Costs

OtherOperating Expenses

InterestPayable

Dep’n. Total

£’000 £’000 £’000 £’000 £’000

Academic departments 19,268 2,078 - - 21,346

Research projects 1,783 912 - - 2,695

Administrative departments 4,685 4,680 - - 9,365

Library and information technology 3,701 2,246 - - 5,947

Catering and conferences - 1,282 - - 1,282

Premises 371 2,284 428 2,096 5,179

Other expenditure 681 652 - - 1,333

Total per income and expenditure account �0,48� 14,1�4 428 2,0�6 4�,14�

The depreciation charge has been funded by : Note £’000

Revaluation reserve released 20 204

Deferred capital gifts released 18 108

Deferred HEFCE grants released 18 820

General reserves 964

2,0�6

Staff Costs include £186,000 restructuring costs (2006: £279,000).



11. Loss on disposal of fixed assets

Fully depreciated furniture and equipment with an original cost price of £60,000 was written off during the year. As these assets were disposed of for nil consideration there has been no charge to the income and expenditure account (2006: £81,000).

12. Tangible fixed assets:Land and Buildings

Freeholdin course of

construction

Leasehold in course of

construction

Freehold Longleasehold

Equipment Total

£’000 £’000 £’000 £’000 £’000 £’000

valuation / Cost

At 1 August 2006Valuation - - - 24,250 - 24,250 Cost 75 151 14,017 24,733 7,224 46,200

Total 75 151 14,017 48,983 7,224 70,450

Additions 48 3,193 41 837 1,075 5,194

Transfer - (14) - 14 - -

Disposals - - - - (60) (60)

At 31 July 2007Valuation - - - 24,250 - 24,250 Cost 123 3,330 14,058 25,584 8,239 51,334

Total 123 3,330 14,058 49,834 8,239 75,584

Depreciation

At 1 August 2006Depreciation - - 522 6,498 2,799 9,819 Charge for year - - 110 833 1,153 2,096 Eliminated in respect of disposals

- - - - (60) (60)

At 31 July 2007 - - 632 7,331 3,892 11,855

Net book value

At �1 July 200� 12� �,��0 1�,426 42,50� 4,�4� 6�,�2�

At �1 July 2006 �5 151 1�,4�5 42,485 4,425 60,6�1


Long Leasehold

The College Building and the Philips Building are held on a 999 year lease expiring in 2938. The Brunei Gallery is held on a 99 year lease expiring in 2091. 23/24 Russell Square is held on a 99 year lease expiring in 2094. 21/22 Russell Square is held on a 99 year lease expiring in 2105. All four leases are granted by the University of London.

The valuation of the main college buildings is based on a revaluation report as at 31 July 1995 prepared by Jones Lang Wootton, Chartered Surveyors.

Freehold

The Vernon Square campus is owned freehold by the School. Freehold land of £8,550,000 is not being depreciated as it is considered to have an indefinite useful life.

Deferred Capital Gifts and Grants (note 18)

£8,800,000 of the Brunei Gallery was funded by a capital gift from the Sultan of Brunei. This is being released to the income and expenditure account over the life of the Gallery to fund the depreciation charge. £88,000 (2006: £88,000) was released during the year. The Brunei Gallery is held at a net book value of £9,250,000 (2006: £9,357,000).

£200,000 of the Khalili Lecture Theatre was funded by a capital gift from the Khalili Family Trust. This is being released to the income and expenditure account over the life of the Theatre to fund the depreciation charge. £20,000 (2006: £20,000) was released during the year. The Khalili Lecture Theatre is held at a net book value of £169,000 (2006: £197,000).

£4,735,000 of equipment, £2,478,000 of leasehold additions and £417,000 of freehold additions were funded by capital grants from the Funding Council. This is being released to the income and expenditure account over the life of the assets to fund the depreciation charge. £820,000 (2006: £673,000) was released during the year.

1�. Investments

The School owns 100% of the issued share capital of 1,000 £1 ordinary shares of SOAS International Limited, a company registered in England and Wales. This company is dormant.



14. Endowment asset investments 200� 2006

Specific General Total Total

£’000 £’000 £’000 £’000

Balance at 1 August 2006 12,079 9,359 21,438 19,592

Net (deductions)/additions (from)/to investments (33) 19 (14) (18)

Appreciation of endowment asset investments 1,015 754 1,769 1,671

Movement in cash balances held at SOAS 62 (19) 43 193

balance at 31 July 2007 13,123 10,113 23,236 21,438

Fixed interest stocks - fund manager 1,553 1,224 2,777 2,686

Equities - fund manager 8,418 6,636 15,054 13,654

Property - fund manager 312 246 558 442

Hedge funds - fund manager 1,646 1,297 2,943 2,566

Bank balances - fund manager 984 776 1,760 1,988

Bank balances - SOAS 210 (66) 144 102

Total endowment asset investments 1�,12� 10,11� 2�,2�6 21,4�8

15. Debtors 200� 2006

£’000 £’000

Amounts falling due within one year :

General debtors less provision for bad debts 736 1,208

Research grants and contracts in arrears 422 278

Prepayments and accrued income 464 741

Staff loans 61 64

1,68� 2,2�1


16. Creditors: Amounts falling due within one year Note 200� 2006

£’000 £’000

Bank loans repayable within one year 17 194 298

Trade creditors and accruals 5,773 3,546

Other creditors 1,823 1,312

Taxation and social security 737 725

Research grants and contracts in advance 1,975 1,871

Deferred income 2,764 3,033

Access funds 27 9 1

1�,2�5 10,�86

1�. Creditors: Amounts falling due after more than one year 200� 2006

£’000 £’000

barclays bank loans :

Loan secured on 23/24 Russell Square at 9.99% (fixed interest rate) repayable by September 2007

65 310

Loan secured on 23/24 Russell Square at 8% (fixed interest rate) repayable by September 2007

12 59

Unsecured loan at LIBOR plus 0.28% (variable interest rate) repayable by July 2031

9,438 7,437

9,515 7,806

University of London grant for development of MSc Finance and Financial Law(interest free) repayable by August 2009

437 441

9,952 8,247

Less due within one year (194) (298)

�,�58 �,�4�



1�. Creditors: Amounts falling due after more than one year (continued)

A swap contract was signed with Barclays Bank on 19 October 2001 in order to reduce the School’s exposure to interest rate fluctuations on the variable rate loan. The effective start date of the contract was 28 June 2002. At year end the swap covered £3,200,000 of borrowing, amortising in line with the loan repayments. The swap rate is 5.38%. This is compared to the three month LIBOR rate and the difference is payable to / by Barclays Bank. £3,000 (2006: £25,000) of interest expense in the accounts relates to interest charged on the swap contract.

A second swap contract was signed with Lloyds Bank on 2 November 2006. This swap contract further reduces the School’s exposure to interest rate fluctuations on the unsecured loan, including the £2,000,000 drawdown made during the year. The effective start date of the swap contract is 2 November 2006, the termination date is 30 September 2026. The value of the swap contract is £2,000,000 for the life of the swap. The swap rate is 4.65%. This is compared to the three month LIBOR rate and the difference is payable to / by Lloyds Bank. £12,000 (2006: £0) of interest expense in the accounts relates to interest received from the swap contract.

200� 2006

£’000 £’000

The principal on these loans is repayable as follows:

In one year or less 194 298

Between one and two years 547 254

Between two and five years 1,518 1,309

In more than five years 7,693 6,386

9,952 8,247

Less due within one year (194) (298)

�,�58 �,�4�


18. Deferred capital gifts and grants 200� 2006

£’000 £’000

Deferred capital gifts:

At 1 August 7,832 7,940

Received during the year 26 -

Released to income and expenditure account (108) (108)

At 31 July 7,750 7,832

Funding Council capital grants :

At 1 August 6,484 1,651

Received during the year 975 5,506

Released to income and expenditure account (820) (673)

At 31 July 6,639 6,484

14,�8� 14,�16

1�. Endowments Note Specific General 200� 2006

£’000 £’000 £’000 £’000

At 1 August 2006 12,079 9,359 21,438 19,592

Additions 42 - 42 150

Appreciation of endowment asset investments

1,015 754 1,769 1,671

Capital withdrawals (76) - (76) (13)

Income for year 436 339 775 742

Transferred to income and expenditure account

(373) (339) (712) (704)

At 31 July 2007 13,123 10,113 23,236 21,438

Classified as:

Endowment investment assets held by fund manager

14 12,913 10,179 23,092 21,336

Cash balance held at SOAS 14 210 (66) 144 102

1�,12� 10,11� 2�,2�6 21,4�8



20. Revaluation reserve 200� 2006

£’000 £’000

At 1 August and 31 July 20,407 20,407

Contributions to depreciation

At 1 August 2,920 2,716

Released in year 204 204

At 31 July 3,124 2,920

Net revaluation amount

At 1 August 1�,48� 1�,6�1

At �1 July 1�,28� 1�,48�

21. General Reserve Note 200� 2006

£’000 £’000

balance at 1 August 13,555 13,622

Surplus / (Deficit) for the year retained within general reserves

386 (279)

Release from revaluation reserve to fund depreciation charge

20 204 204

Percival David Foundation collection insurance fund contributions

8 8

Balance at �1 July 14,15� 1�,555

The School administers the Percival David Foundation collection and library on behalf of the University of London, under the guidance of the Percival David Foundation Council. A self insurance fund has been established for the collection, it is valued at £150,000 and is included in the income and expenditure account in the balance sheet.


23. Reconciliation of deficit after depreciation of assets at valuation before and after tax to net cash (outflow) / inflow from operating activities

Note 200�

£’000

2006

£’000

Surplus / (deficit) after depreciation of assets at valuation before and after tax

449 (241)

Depreciation charges 12 2,096 1,837

Deferred capital grants released to income 18 (928) (781)

Investment income 5 (1,000) (974)

Interest payable 9 428 478

Decrease / (increase) in debtors 15 608 (91)

Increase / (decrease) in creditors 16 2,593 (318)

Increase in Percival David Foundation collection insurance fund

21 8 8

Net cash inflow from operating activities 4,254 (82)

22. Financial commitments

At 31 July 2007 the School was committed to making the following payments during the next year in respect of operating leases:

200� 2006

£’000 £’000

Plant and machinery:

Expiring within one year 87 69

Expiring within two to five years inclusive 407 283

4�4 �52



24. Gross cash flows Note 200� 2006

£’000 £’000

Returns on investments and servicing of finance

Income from endowments 19 775 742

Income from short term deposits 5 225 232

Interest paid 9 (428) (478)

572 496

Capital expenditure and financial investment

Payments to acquire tangible assets 12 (5,194) (5,889)

Receipts from sale / payments to acquire endowment assets

14 18

Receipts from endowment donations less capital withdrawals

(34) 137

Deferred capital gifts and grants received 1,001 5,506

(4,213) (228)

Management of liquid resources

Transfers (to) / from short term deposits (2,351) 1,006

Financing

Mortgages drawn down 2,000 -

Mortgages repaid (295) (619)

17 1,�05 (61�)


25. Analysis of changes in debt Note At1 August

2006

Cash Flows Othernon cash changes

At�1 July

200�

£’000 £’000 £’000 £’000

Cash in hand and at bank 1,121 (76) - 1,045

Endowment asset investments held as cash at SOAS

19 102 43 - 145

1,223 (33) - 1,190

Short term deposits 50 2,351 - 2,401

Debt due within one year 16 (298) (1,705) 1,809 (194)

Debt due after one year 17 (7,949) - (1,809) (9,758)

(6,��4) 61� - (6,�61)



26. Pension schemes

The School is a member institution in two pension schemes for university employees which are managed by trustees: the Universities Superannuation Scheme (USS) for academic and academic related staff and the Superannuation Arrangements of the University of London (SAUL) for all other staff.

Employer contributions are determined by the trustees on the advice of the scheme actuary. The triennial actuarial valuation for SAUL was last calculated as at 31st March 2005 and the contribution rate is currently 13 percent. The triennial actuarial valuation of USS was carried out as at 31st March 2005 and the contribution rate is currently 14 percent.

The School has adopted FRS17 for accounting for pension costs. It is not possible to identify the School’s share of the underlying assets and liabilities of the schemes. Therefore contributions are accounted for as if the schemes were defined contribution schemes and pension costs are based on the amounts actually paid (i.e. cash amounts) in accordance with paragraphs 8-12 of FRS 17.

The SAUL pension scheme is valued using the projected unit credit method.The USS pension scheme is valued using the projected unit method.

Details of the two schemes are as follows : SAUL USS

Latest actuarial valuation dated �1/0�/05 �1/0�/05

Investment returns per annum

- Past service liabilities before retirement 5.5% 4.5%

- Past service liabilities after retirement 4.5% 4.5%

- Future service liabilities before retirement 6.5% 6.2%

- Future service liabilities after retirement 4.5% 6.2%

Salary scale increases per annum 4.2% 3.9%

Pension increases per annum 2.7% 2.9%

Liabilities at date of last valuation £1,058M £28,308M

Deficit at date of last valuation £76M £6,568M

Market value of assets at date of last valuation £982M £21,740M

Proportion of members’ accrued benefits covered by the actuarial value of the assets

93% 77%

The total pension cost for the School was: 200� 2006

£’000 £’000

Contributions to SAUL 401 323

Contributions to USS 2,372 2,296

Total pension cost 2,�� 2,61�


2�. Access funds Note 200� 2006

£’000 £’000

Balance unspent at 1 August 1 5

Funding Council grants 149 150

Disbursed to students (141) (154)

Balance retained at �1 July 16 � 1

Access Fund grants are available solely for students; the School acts only as paying agent. The grants and related disbursements are therefore excluded from the income and expenditure account.


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Produced and designed by:The Marketing Department, SOAS

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Photographs courtesy of:David Levenson - pages 3, 4, 7 Glenn Ratcliffe - pages 8, 9Aliaksandr Ilyukevich - (A Shaman) page 14Obi Okigbo - (Forecast, 2002) page 14

School of Oriental and African StudiesUniversity of LondonThornhaugh StreetRussell SquareLondon WC1H OXGwww.soas.ac.uk

Tel: +44 (0) 20 7637 2388Fax: +44 (0) 20 7436 3844

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School of Oriental and African Studies · School of Oriental and African Studies ... economics and discussed the historiography of 19th century ... Development Studies,