THE ROYAL PHILOSOPHICAL
SOCIETY OF GLASGOW
15 Lanark Street, Glasgow G1 5PY
www.royalphil.org [email protected]
ANNUAL REPORT OF COUNCIL
and
NOTICE OF MEETING
ANNUAL GENERAL MEETING
The 215th Annual General Meeting of the Society will be held on Wednesday
5th April 2017 at 6.45 pm in Lecture Theatre K3.25, John Anderson Building,
University of Strathclyde, Glasgow.
The agenda will be as undernoted:
1.
2.
3.
4.
5.
Minutes of 214th Annual General Meeting of the Society (Hon Sec)
President’s Review of the Year
Honorary Treasurer’s Report
(i) Approval of accounts for year to 31st July 2016
(ii)Appointment of independent Accountant
Election of Office-Bearers and Council (see page 23)
Any other competent business
Supporting papers are attached.
On behalf of the Council,
Dr Felicity Grainger
Hon Secretary
SCOTTISH CHARITABLE INCORPORATED ORGANISATION (SCIO) CHARITY NO. SC015557
Minutes of the AGM held on 30th March 2016.
Held at 6.45 p.m. on 30 March 2016 at Strathclyde University.
Apologies: Professor Leslie Barr, Dr Colin Brown, Dr Mary Fraser, Dr Helen
Cargill Thomson, Morag Pettigrew.
The President, Dr Jeffrey Jay, welcomed members to the 214th AGM of the Society
1.
Minutes of the 213th AGM
The adoption of the minutes was proposed by Mr Edward Harkins and seconded by
Professor Julia Smith.
2. The President’s Review of the year
Dr Jay reported a successful year and indicated an engaging programme in the
coming Session.
He thanked the membership for its active support and in particular commended the
lively discussions after the lectures. He also thanked the speakers who had taken
part in Members’ Night as well as those whose submissions had not been chosen this
year. The social event preceding the lecture session had been a Civic Reception in the
City Chambers. Dr Jay thanked Bailie Docherty and Mr Jim Mearns for facilitating
the visit and for providing members with an insight to the life and function of the
building. Dr Jay also mentioned that the Royal Philosophical Society lecture at the
Glasgow Science Festival had developed into a family-friendly lecture aimed at
younger people. He told members that in addition to the published programme
there are “hidden lectures” which serve as reserve lectures prepared in advance
by Council members to cover the possibility of a last minute cancellation by a
visiting speaker. Dr Jay thanked Professor Hamish Scott for arranging these backup lectures.
2015 had seen the introduction of the Society’s research and study grants approved
at the 2016 AGM. The first grant had been awarded in December to Professor
Adrienne Scullion for research into the archives of the Glasgow Jewish Institute
Players. The work will be conducted by Dr Paul Maloney at the University of
Glasgow who will examine archives in Glasgow at the University Library, the
Mitchell Library and the People’s Palace, and in London at the V&A Museum and
the British Library. Oral history will also be compiled from personal reminiscences
and a presentation will be given to the Society in due course. The President looks
forward to the development of the grant scheme as an important part of the Society’s
2
charitable activity in the years to come.
In this, his last AGM as President, Dr Jay thanked members for their continued
support. While he observed that very few write to him, either to indicate concern
or to congratulate the Society on specific topics, he hoped that the scarcity of
correspondence indicated satisfaction.
Dr Jay thanked Council for its work during the past two years, especially those
individuals who would be leaving Council at the AGM. Finally, Dr Jay paid tribute
to the Society’s administrator, Mr George Rawlinson, for carrying out the dayto-day running of the Society’s affairs in his characteristically calm and discreet
manner.
In response to the President’s review, a member suggested that lectures should be
recorded for the archive and made available to members. He also said that some
speakers would be prepared to share their slides with the general public. The
President replied by indicating that the matter had been considered regularly by
Council which is awaiting a formal review of the subject from its Website Group.
3.
Honorary Treasurer’s Report
Mr Janan Sulaiman presented the Report, which had been distributed to members.
The budget had stabilised over the year and now showed a surplus of £800.
Investment income was slightly lower but this is not seen as a cause for concern. It
was noted that expenditure on activities, donations and refreshments was slightly
up but that donations at the door had increased and, in general, the finances were
in good order and the Society was on track to be in a sound financial position next
year.
In reply to a question from a member Mr Sulaiman confirmed that there were two
M&G accounts. Following a question about the cost of rental of the lecture theatre,
Mr Mervyn Lovat, former Treasurer, said that there had been a major anomaly a few
years ago arising from the invoicing system of the University. As a result, a new
agreement had been negotiated and the Society had obtained a favourable rate. Mr
Lovat thanked Dr Carol Trager-Cowan for her assistance in resolving the matter.
i)
The motion to approve the accounts was proposed by Mrs Linda Lovat and
seconded by Mr Eric Routley without opposition.
ii)
The motion to appoint Mr Lewis Osborne as independent auditor as proposed
by Mr Lovat and seconded by Dr Derek Manson-Smith without opposition.
3
4.
Election of Office Bearers and Council
The nominations as presented by Council were elected unopposed. The President
indicated that Council was keen to recruit new members and encouraged those who
might be interested to come forward.
Dr Jay then presented the incoming President, Professor Jan McDonald, with the
badge of office.
In accepting the Presidency Professor McDonald said that she did not underestimate
either the honour or the responsibilities of the role. She thanked Dr Jay for being
a splendid role model, having been a President of distinction, sound judgment,
and vision. She hoped to build on the successes of his term including the further
development of the Grant scheme.
The following were declared elected unopposed:
President:
Immediate Past President:
Prof. Jan McDonald
Dr Jeffrey Jay
Vice Presidents: Prof. John Barker, Prof. Alan Shenkin and Dr Carol Trager-Cowan Hon Secretary:
Dr Felicity Grainger
Hon Treasurer:
Council:
5. AOCB
None.
Mr Janan Sulaiman
Dr Geraint Bevan
Dr Colin Brown Ms Maria Fyfe
Mr Mervyn Lovat Ms Jean McFadden
The meeting closed at 7.25pm.
4
Prof. Alexander Broadie
Dr John Carnduff
Ms Margaret Houston
Mr Alec Mitchell
REPORT BY THE COUNCIL
215th Session
2016-2017
Office-Bearers
President: Prof. Jan McDonald
Vice Presidents: Prof. John Barker
Prof. Alan Shenkin
Dr Carol Trager-Cowan
Immediate Past President: Dr Jeffrey Jay
Hon Secretary:
Dr Felicity Grainger
Hon Treasurer:
Mr Janan Sulaiman
Members of Council: Dr Geraint Bevan Prof. Alexander Broadie
Dr Colin Brown Dr John Carnduff
Ms Maria Fyfe Ms Margaret Houston Mr Mervyn Lovat Mr Alec Mitchell
Ms Jean McFadden
Dr Colin Miller (co-opted
5
Overture
President’s Report
The 215th Session opened in September with a social evening when over 100 members
were guests of the Royal Conservatoire of Scotland. We were welcomed by the
Principal, Professor Jeffrey Sharkey, and entertained in the Alexander Gibson Opera
School by a talk from Dr Stuart Harris Logan, the Conservatoire’s archivist, on the
history of the institution, a history in which some of our members had played an active
role. After supper, three talented young students from the Department of Traditional
Music provided a delightful conclusion to the evening with music on the clarsach and
fiddle, and Gaelic songs.
Playbill
Serious food for ‘curious minds’ began in October with the programme of fortnightly
lectures. As usual, a wide range of topics was explored: topical social issues (domestic
abuse, ‘realistic’ medicine, the nation’s dietary problems, and advances in forensic
science,) ; scientific discoveries (the remarkable progress in exploration of the cosmos
with imminent advances in astronomy made possible by recent observations of
gravitational waves, and the lessons learned from landing on a comet); pre-history( the
Ark before Noah), and the impact of events of 500 years ago on present day thought.
The three Medal Lectures were given by Professor Sheila Rowan, Director of the
Institute for Gravitational Research, University of Glasgow (Kelvin Medal); Professor
Susan Jebb, Professor of Diet and Population Health, University of Oxford (Graham
Medal), and the Rev Professor Diarmaid MacCulloch, Professor of History of the
Church, University of Oxford (Minerva Medal).
The season was, however, not without its challenges. There were two cancellations at
relatively short notice as Baroness Goldie and Professor Alexis Jay had to withdraw
owing to other professional commitments. We were extremely fortunate to be able to
call on Council member, Jean McFadden, who as a former Bailie of the City of Glasgow
and Leader of the Labour Group, gave us an insight into life for a woman in the City
Chambers, and the stories behind the changes in our physical, social and cultural civic
environment over the past thirty years. Our second ‘hero’ was Professor Nigel Leask,
who , already earmarked as a future speaker, agreed to be brought forward, and gave
a most engaging talk with exquisite illustrations on the travels of Thomas Pennant, a
Welsh naturalist, in Scotland in the 18th century .
The Trailer
Plans for the 216th Season seem to be well in hand, but recent experience has shown that
there is no room for complacency in planning a series of lectures! The list of speakers,
drawn from academia, business, public affairs, medicine, science and broadcasting
includes, Sir Paul Nurse, Lord Peter Hennessy, Sir Munir Pirmohamed, Drs Jane
Morris, Jim McColl and Will Hutton, Professors Paul Rogers, Richard Susskind,
Carolyn Roberts, Stella Bruzzi, and Kate Jeffrey.
6
The Podcast
The Web Sub Committee of Council has been working throughout the session on the legal
and technical issues involved in recording and preserving our lectures. Arrangements
are almost complete and in the very near future, certainly by next session, the scheme
will be in place.
Angels and Backers
This is the second year of the programme of awarding small grants to early career
academics. We have received an excellent interim report from the first award winner,
Dr Paul Maloney (University of Glasgow, now Queen’s University, Belfast) on ’The
History of the Glasgow Jewish Institute Players’. It is hoped that the final results of his
research will be published, with due acknowledgement of the Society’s contribution,
and that a public lecture will follow.
This year two grants of £2,500 were awarded: the first to Professor Kirstie Blair,
University of Strathclyde, to engage a research assistant, Karen Weiss, to work on her
project, ‘Glasgow Historic Literary Societies Online, 1800-1914’. The second was
awarded to Dr Ben Colburn, University of Glasgow, to support a postgraduate student
under his supervision to investigate the subject, ‘Theories of Autonomy in the Context
of Mental Illness’.
It is proposed to extend the award scheme next session to embrace the Further Education
sector. We are currently having discussions with the administrator of the Trades House
of Glasgow’s Young Apprentice Awards Scheme, as to how the Society might contribute
to this programme.
The Cast
Several longstanding and valuable members of Council have sadly come to the end of
their period of office. It is with great regret and much gratitude that we say goodbye
to John Carnduff, Felicity Grainger, Mervyn Lovat, Alec Mitchell and Carol TragerCowan. Each one in his or her own way has made a special contribution to the Society
and we hope they will remain on hand to provide good counsel in the future.
Of those remaining, Geraint Bevan and Jean McFadden will become Vice Presidents
and Margaret Houston will assume the role of Treasurer.
I am pleased to have an opportunity publicly to record my thanks to all Council members,
present and past, and most particularly to George Rawlinson, our imperturbable, everpatient, totally reliable, unassumingly efficient Administrator, without whom this show
would not get on the road.
Em. Professor Jan McDonald, FRSE, FRSAMD
President
March 2017
7
Lectures
215th Lecture Series
2016
5 October Dr Catherine Calderwood The philosophy of realistic medicine
19 October Dr Irving Finkel The Ark before Noah
2 November Dr Lily Greenan From margins to mainstream: transforming policy responses to violence against women in Scotland
16 November Prof. Sheila Rowan
Gravitational wave observations - a new astronomy
30 November Ms Jean McFadden Glasgow’s Miles Better? a personal view
14 December Prof. Niamh Nic Daéid Does forensic science have a future?
2017
11 January
Sir Anthony Seldon
The sheer waste of late twentieth century academic philosophy
25 January Prof. Susan Jebb Knowledge, nudge or nanny: how can we improve the nation’s diet?
22 February Prof. Monica Grady
Landing on a comet
8 February Lord Macdonald Freedom in a dangerous world
8 March Prof. Nigel Leask ‘As little known as Kamschatka’: Thomas Pennant’s Scottish Tours 1769-72
22 March
Rev Prof. Diarmaid The Reformation, half a millennium Macculloch later
5 April Prof. Laurence Eaves
Graphene: physics, technology and challenges
8
THE ROYAL PHILOSOPHICAL SOCIETY OF GLASGOW
(A Scottish Charitable Incorporated Organisation)
SCOTTISH CHARITY NUMBER - SC015557
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2016
LIST OF CONTENTS
Page
Significant Information10
Trustees’ Report
11
Independent Examiner’s Report14
Income and Expenditure Account and Statement of Financial Activities 15
Statement of Total Recognised Gains and Losses 15
Balance Sheet 16
Notes to Financial Statements 17
Detailed Income and Expenditure Account 20
9
SIGNIFICANT INFORMATION
Trustees
elected 30th March 2016
Prof. Jan McDonald President
Dr Jeffrey Jay CBE
Immediate Past President
Dr Felicity Grainger
Honorary Secretary
Mr Janan Sulaiman
Honorary Treasurer
Prof. John Barker
Vice-President
Dr Carol Trager-CowanVice-President
elected 30th March 2016
Prof. Alan Shenkin
Vice-President
elected 30th March 2016
Dr Geraint Bevan
elected 30th March 2016
Prof. Alexander Broadie
Dr Colin Brown
Dr John Carnduff
Ms Maria Fyfe
Ms Margaret Houston
Mr Mervyn Lovat
elected 30th March 2016
Ms Jean McFadden
co-opted 6th April 2016
Dr Colin Miller
Mr Alec Mitchell
Registered Office
D12 160 Bothwell Street (until 30 November 2016)
Glasgow
G2 7EL
15 Lanark Street (from 1 December 2016)
Glasgow G1 5PY
Independent Examiner Lewis J Osborne
Chartered Accountant 2 Falkland Avenue
Newton Mearns
Glasgow
G77 5DR
Bankers
Bank of Scotland
Gordon Street
Glasgow
G1 3RS
10
TRUSTEES' REPORT
The Trustees present their report and financial statements of the Society for
the year ended 31 July 2016. The financial statements have been prepared in
accordance with the accounting policies set out on page 7 and comply with the
Society’s Memorandum and Articles of Association and applicable law as at
that date.
OBJECTIVES AND ACTIVITIES
The Society, founded in 1802, was incorporated in 1879 and retains its core aims
which are to aid the study, diffusion advancement and development of the arts
and sciences with their applications, and the better understanding of public
affairs. Its principal activity is the holding of public lectures for members and
guests,between October and March. In 2012, the Society changed its status to
that of a Scottish Charitable Incorporated Organisation. FINANCIAL REVIEW
(a) General Fund
The Society had a surplus in 2016 on the General Fund of £233 (2015: £874
surplus). Subscription income increased to £19,273 as against £16,570 in the
previous year. This income was augmented by non-members’ donations of
£1,700 (2015-£1,225).
Investment income, bank interest and income tax recovered remained
approximately the same in both years.
Overall expenditure (excluding Grants made) amounted to £27,531 compared
with £25,722 in 2015.
During the year the Society initiated its scheme of awarding grants in line with
our constitution. £5,000 was paid during the year and there are further firm
commitments of £4,613 to be paid in the coming year.
The market value of the investments held by the Society in two Charifunds
has again increased this year by £8,737, giving a total value at 31 July 2016 of
£236,553. At 10th March 2017, the market value was £252,223.
(b) Kelvin Fund
No monies were ingathered or disbursed in connection with the Fund during
the year under review. The Society has not allocated the outstanding balance
on the Fund. The Council proposes to disburse the Fund in an appropriate way
reflective of Lord Kelvin.
11
TRUSTEES’ REPORT (continued)
OPERATING REVIEW
The Society had another very successful year, with membership numbering more
than 900. Average attendances are being maintained at a high level, reflecting on
both the quality of speakers whom we continue to attract, and the reputation of
the Society. During the year 2015-2016, twelve lectures were delivered by invited speakers,
in addition to an evening reserved for members’ talks, and a social event.
Our income levels are satisfactory and adequate to fund our activities and our
grant programme. No increase is proposed in annual subscriptions.
Mr George Rawlinson, our administrator, continues to be an invaluable support
to the Society and continues to develop and improve services to our members,
and maintains our internet presence.
INVESTMENT POLICY
In general, funds are placed with the Society’s bankers but the main source of
investment income comes from the unit trust holding in M & G’s Charifunds,
some of which are held in capital accumulation units. The reported yield is 2%
including some capital appreciation.
TRUSTEES
The trustees currently in office are shown on the first page. The following
resignations have taken place during the year:-
Mr Ephraim Borowski MBE
retired 30th March 2016
Mr Stephen Gold
retired 30th March 2016
Mr David Reid
retired 30th March 2016
INDEPENDENT EXAMINER Lewis J Osborne, Chartered Accountant, acts as Independent Examiner and
his report is shown on Page 14. He is willing to continue in this position and
a resolution proposing his reappointment will be put to the Annual General
Meeting.
12
TRUSTEES’ REPORT (continued)
STATEMENT OF THE TRUSTEES’ RESPONSIBILITIES
The Trustees are required to prepare accounts for each financial period which
give a true and fair view of the state of affairs of the Society as at the end of
that financial period and of the income and expenditure of the Society for that
period.
In preparing these accounts, the Trustees are required to :-
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are in their opinion reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts;
-
prepare the accounts on a going concern basis unless, in its view, based on the information then available to them, that basis of preparation would be inappropriate.
The Trustees are responsible for the preparation of the accounts in accordance
with the Charities and Investment (Scotland) Act 2005 and the Charities
Accounts (Scotland) Regulations 2006 (as amended). The Trustees consider that
the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations
does not apply.
The Trustees are also responsible for taking reasonable steps both to safeguard
the assets of the Society and to prevent fraud and detect fraud and other
irregularities.
BY ORDER OF THE COUNCIL
Felicity Grainger
Honorary Secretary
GLASGOW: 15th March 2017
13
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES ON THE
UNAUDITED ACCOUNTS OF THE ROYAL PHILOSOPHICAL SOCIETY
OF GLASGOW FOR THE YEAR ENDED 31 JULY 2016
I report on the accounts for the year ended 31 July 2016 which are set out on pages
15 to 20.
Respective responsibilities of trustees and examiner
The Trustees are responsible for the preparation of the accounts in accordance
with the terms of the Charities Trustee Investment (Scotland) Act 2005 and the
Charities Accounts (Scotland) Regulations 2006 (as amended). The Trustees
consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts
Regulations does not apply. It is my responsibility to examine the accounts as
required under Section 44(1)(c) of the Act and to state whether particular matters
have come to my attention.
Basis of independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the Charities
Accounts (Scotland) Regulations 2006 (as amended). An examination includes
a review of the accounting records kept by the Trustees and a comparison of
the accounts presented with those records. It also includes consideration of any
unusual items or disclosures in the accounts, and seeks explanations from the
Trustees concerning any such matters. The procedures undertaken do not provide
all the evidence that would be required in an audit, and consequently, I do not
express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention
1
which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or
2
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
LEWIS J OSBORNE
CHARTERED ACCOUNTANT
2 Falkland Avenue, Newton Mearns, Glasgow, G77 5DR
15 March 2017
14
INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF
FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 JULY 2016
2016
Kelvin
Fund
General
Fund
Total
2015
Kelvin
Fund
General
Fund
Total
£
£
£
£
£
£
19,273
4,875
4,611
131
1,700
30,590
0
0
0
0
0
0
19,273
4,875
4,611
131
1,700
30,590
16,570
4,209
4,462
130
1,225
26,596
0
0
0
0
0
0
16,570
4,209
4,462
130
1,225
26,596
4,088
1,952
5,031
265
2,279
699
564
500
121
15,499
0
0
0
0
0
0
0
0
0
0
4,088
1,952
5,031
265
2,279
699
564
500
121
15,499
4,814
2,380
4,849
84
2,203
802
364
100
277
15,873
0
0
0
0
0
0
0
0
0
0
4,814
2,380
4,849
84
2,203
802
364
100
277
15,873
Management and Administration
9,859
0
9,859
9,849
0
9,849
Educational Grants
4999
0
4,999
0
0
0
30,357
0
30,357
25,722
0
25,722
233
0
233
874
0
874
INCOMING RESOURCES
Subscriptions
Income Tax Recoverable
Investment Income
Interest Receivable
Donations
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Direct Charitable Expenditure
Hall Rent
Lecturers' Expenses
Refreshments
Web Site Costs
Printing and Stationery
Postages
Miscellaneous Expenses
Donations made
Special Event Expenses (net)
TOTAL RESOURCES EXPENDED
SURPLUS FOR YEAR
CONTINUING OPERATIONS
None of the Society's activities were initiated or discontinued during the current or previous years. Although the Society
in pursuit of its objectives as stated in the constitution has commenced awarding research grants.
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
FOR THE YEAR ENDED 31 JULY 2016
Opening Balance
SURPLUS/ (DEFICIT) FOR YEAR
Change in Market Value of Investments
TOTAL RECOGNISED GAINS AND LOSSES
RELATING TO THE YEAR
Closing Balance
2016
2015
General
Kelvin
Total
General
Kelvin
Total
Fund
Fund
Fund
Fund
£
£
£
£
£
£
263,250
1,703
264,953
254,979
1,703
256,682
233
8,737
0
0
233
8,737
874
7,397
0
0
874
7,397
8,970
0
8,970
8,271
0
8,271
1,703
273,923
263,250
1,703
264,953
272,220
15
BALANCE SHEET AS AT 31 JULY 2016
Notes
TANGIBLE FIXED ASSETS
President's Insignia - Jenny Johnston Memorial Medal and Chain
Fixtures, Fittings and Equipment
Investments
1
5
6
CURRENT ASSETS
Bank
Debtors & Prepayments
CREDITORS : Amounts falling due within 1 year
Creditors
Accrued Charges
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
2016
£
2015
£
2,690
0
236,553
2,690
0
227,816
239,243
230,506
37,187
442
37,629
34,528
369
34,897
2499
450
2,949
0
450
450
34,680
34,447
273,923
264,953
272,220
1,703
273,923
263,250
1,703
264,953
CAPITAL AND RESERVES
General Fund
Kelvin Fund
7
8
These financial statements were approved by the Trustees on 15th March 2017 and are signed on their behalf by:
Prof Jan McDonald
President
Mr Janan Sulaiman
Treasurer
The notes on pages 17, 18 and 19 form part of these financial statements
16
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31 JULY 2015
1. ACCOUNTING POLICIES
Accounting Convention
The financial statements, with the exception of investments, have been
prepared in accordance with the Financial Reporting Standards for Smaller
Entities (effective January 2015) and in accordance with applicable Accounting
Standards and Statement of Recommended Practice - Accounting by Charities.
In addition, the accounts have also been prepared in accordance with the
Charities and Trustee Investment (Scotland) Act 2005 and the Charities
Accounts (Scotland) Regulations 2006 (as amended).
Tangible Fixed Assets President's Insignia - Jenny Johnston Memorial and gold chain- stated at cost
Fixtures, Fittings and Equipment - stated at cost
Investments - stated at market value
Depreciation Depreciation of Fixtures, Fittings and Equipment is provide at the following
annual rate in order to write off each asset over its estimated useful life. 33.33%
The Assets of the Society include, a bronze bust of Lord Kelvin - currently held
in the custodianship of the Hunterian Museum at the University of Glasgow,
the President's chair - currently held in the custodianship of the University
of Strathclyde, a marble bust of Thomas Graham - currently held in the
custodianship of the Royal College of Physicians and Surgeons of Glasgow, the
audio equipment used at meetings, and the insignia of office of the President.
The archives of the Society are held in the library of the University of Glasgow.
Investment Income
Income from investments is accounted for on the date on which it falls due for
payment
2. COMPANY STATUS
The Society is incorporated as a Scottish Charitable Incorporated Organisation.
3. NATURE AND PURPOSE OF FUNDS
The General Fund is for the provision of finance for fulfilment of the aims and
objective of the Society. The main purposes of the Kelvin Fund are set out in
the Trustees' Report. 17
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR
THE YEAR ENDED 31 JULY 2016
4 TRUSTEES AND OTHER EMPLOYEES
None of the Trustees received remuneration during the year and the Society
has no employees.
5. TANGIBLE FIXED ASSETS
Fixtures, Fittings
& Equipment
£
1,566
0
1,566
Cost at 1 August 2016
Additions
Cost at 31 July 2017
Depreciation at 1 August 2016
Depreciation Charge for Year
Depreciation at 31 July 2017
1,566
0
1,566
Net Book Value at 31 July 2017
0
Net Book Value at 31 July 2016
0
6. INVESTMENTS
Cost
Market Value
At beginning of year
Change in market value
At end of year
The Investments are listed on a recognised stock exchange.
18
2016
£
45,273
2015
£
45,273
227,816
8,737
236,553
220,419
7,397
227,816
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR
THE YEAR ENDED 31 JULY 2015
7. GENERAL FUND
At beginning of year
Surplus for year
Change in market value of Investments
At end of year
8. KELVIN FUND
At beginning of year
Donations to Kelvin Fund
Less: Expenditure
At end of year
2016
£
263,250
233
263,483
8,737
272,220
2015
£
254,979
874
255,853
7,397
263,250
2016
£
1,703
0
1,703
0
1,703
2015
£
1,703
0
1,703
0
1,703
9. COMMITMENTS AND CONTINGENT LIABILITIES
The Society has committed to fund grants already awarded but not yet paid
in the year of £4,613. There is an ongoing award scheme which will make
awards of up to £5,000 in each year for suitable purposes in accordance with
the constitution and scheme rules.
19
DETAILED INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2016
2016
£
£
Income
Subscriptions
Income Tax Recovered
£
£
£
19,273
4,875
24,148
Investment Income
Donations
Bank Interest
16,570
4,209
20,779
4,611
1,700
131
Total Income
Expenditure
Direct Charitable Expenditure
Hall Rent
Lecturers' Expenses
Refreshments
Web Site Costs
Printing and Stationery
Postages
Grants & Donations
Miscellaneous Expenses
Special Event Expenses
Expenses
Income
2015
£
4,462
1,225
130
6,442
5,817
30,590
26,596
4,088
1,952
5,031
265
2,279
699
500
564
15,378
4,814
2,380
4,849
84
2,351
654
100
364
15,596
1,311
-1,190
1,932
-1,655
121
277
15,499
Management and Administration
Secretarial Services
Insurance
Accountant's Remuneration
9,000
409
450
Educational awards paid
Total Expenditure
Surplus for year carried forward
20
15,873
9,000
399
450
9,859
9,849
4,999
0
30,357
25,722
233
874
Clockwise from top left: Prof. Susan Jebb, Dr Irving Finkel, Prof. Niamh Nic
Daéid, Lord MacDonald of River Glaven, Dr Catherine Calderwood, Rev Prof.
Diarmaid MacCulloch KT, Prof. Laurence Eaves, Prof. Sheila Rowan, Prof.
Monica Grady, Prof. Nigel Leask, Sir Anthony Seldon, Ms Jean McFadden, Dr
Lily Greenan
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Lord Macdonald of River Glaven, QC, speaking to the Society on
‘Freedom in a dangerous world’ February 2017
Transit of Mercury - the solar disk at 0859 UT on 9th November 1802, the
day of the first meeting of the Society, as seen from Glasgow. The virgules
show lines of constant ecliptic longitude. The most recent transit was on
9th May 2016
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Agenda Item 4: Appointment of Independent Accountant
Council recommends that Mr Lewis Osborne CA, 2 Falkland Ave, Glasgow
G77 5DR be re-appointed as independent accountant to scrutinise the Society’s
accounts.
Agenda Item 6: Council and Elections
The President and Immediate Past President serve a term of two years.
President:
Prof. Jan McDonald (1)
Immediate Past President:
Dr Jeffrey Jay (1)
Other Council members are elected annually for the time set out in the constitution.
Council makes the following nominations: Vice Presidents:
Dr Geraint Bevan Ms Jean McFadden
Prof. Alan Shenkin
Hon Secretary: Dr Mary Fraser
Hon Treasurer: Council:
(-)
(-)
(1)
(-)
Ms Margaret Houston (-)
Prof. Alexander Broadie (1)
Prof. John Barker (-)
Mr Joe Freedman (-)
Dr Colin Miller
(-)
Dr Colin Brown (2)
Ms Patricia Fort (-)
Ms Maria Fyfe
(2)
Mr Janan Sulaiman (-)
(Note: the numbers in brackets show the number of consecutive years for which
the nominee has previously served in this post. Under Rule III (6), “A retiring
member of Council shall be eligible for re-election to any position. No person
shall be eligible to be elected or appointed to the same position at more than
three successive AGMs, save that the Honorary Treasurer shall be eligible to be
elected or appointed to that position at a maximum of six successive AGMs..”)
There are no nominations proposed by members
On behalf of the Council,
Dr Felicity Grainger, Honorary Secretary
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