ANNUAL REPORT OF COUNCILand

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. Minutes of 214th Annual General Meeting of the Society (Hon Sec)2. President’s Review of the Year3. Honorary Treasurer’s Report (i) Approval of accounts for year to 31st July 2016 (ii)Appointment of independent Accountant4. ElectionofOffice-BearersandCouncil(seepage23)5. Any other competent business

Supporting papers are attached. OnbehalfoftheCouncil, Dr Felicity Grainger Hon Secretary

SCOTTISHCHARITABLEINCORPORATEDORGANISATION(SCIO)CHARITYNO.SC015557

THE ROYAL PHILOSOPHICAL SOCIETY OF GLASGOW

15 Lanark Street, Glasgow G1 5PYwww.royalphil.org info@royalphil.org

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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 AGMThe adoption of the minutes was proposed by Mr Edward Harkins and seconded by Professor Julia Smith.

2. The President’s Review of the yearDr 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 back- up 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

Minutes of the AGM held on 30th March 2016.

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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 day-to-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 ReportMr 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.

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4. ElectionofOfficeBearersandCouncil 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: Prof. Jan McDonald

Immediate Past President: Dr Jeffrey Jay

Vice Presidents: Prof. John Barker, Prof. Alan Shenkin and Dr Carol Trager-Cowan Hon Secretary: Dr Felicity Grainger

Hon Treasurer: Mr Janan Sulaiman

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 5.AOCB None.

The meeting closed at 7.25pm.

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Office-Bearers

President: Prof. Jan McDonald

Vice Presidents: Prof.JohnBarker Prof.AlanShenkin DrCarolTrager-Cowan

Immediate Past President: Dr Jeffrey Jay

Hon Secretary: Dr Felicity Grainger

Hon Treasurer: Mr Janan Sulaiman

Members of Council: DrGeraintBevan Prof.AlexanderBroadie

DrColinBrown DrJohnCarnduff

Ms Maria Fyfe Ms Margaret Houston

MrMervynLovat MrAlecMitchell

Ms Jean McFadden

DrColinMiller(co-opted

REPORT BY THE COUNCIL215th Session2016-2017

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President’s ReportOvertureThe 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.

PlaybillSerious 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 TrailerPlans 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.

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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.

AngelsandBackers

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.

TheCast

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 Trager-Cowan. 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, ever-patient, totally reliable, unassumingly efficient Administrator, without whom this show would not get on the road.

Em. Professor Jan McDonald, FRSE, FRSAMDPresidentMarch 2017

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Lectures215th Lecture Series 20165OctoberDrCatherineCalderwood Thephilosophyofrealisticmedicine19OctoberDrIrvingFinkel TheArkbeforeNoah2NovemberDrLilyGreenan Frommarginstomainstream: transforming policy responses to violence against women in Scotland16NovemberProf.SheilaRowan Gravitationalwaveobservations-a new astronomy30NovemberMsJeanMcFadden Glasgow’sMilesBetter?apersonal view 14DecemberProf.NiamhNicDaéid Doesforensicsciencehaveafuture?

2017

11 January Sir Anthony Seldon The sheer waste of late twentieth century academic philosophy

25JanuaryProf.SusanJebb Knowledge,nudgeornanny:howcan weimprovethenation’sdiet?8FebruaryLordMacdonald Freedominadangerousworld

22FebruaryProf.MonicaGrady Landingonacomet

8MarchProf.NigelLeask ‘AslittleknownasKamschatka’: Thomas Pennant’s Scottish Tours 1769-7222 March Rev Prof. Diarmaid TheReformation,halfamillennium Macculloch later5 April Prof.LaurenceEaves Graphene:physics,technologyand challenges

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THE ROYAL PHILOSOPHICAL SOCIETY OF GLASGOW(A Scottish Charitable Incorporated Organisation)

SCOTTISH CHARITY NUMBER - SC015557

REPORT AND FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 JULY 2016

LIST OF CONTENTS

Page

Significant Information 10

Trustees’ Report 11

Independent Examiner’s Report 14

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

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SIGNIFICANT INFORMATION Trustees elected 30th March 2016 Prof. Jan McDonald President DrJeffreyJayCBE Immediate Past President Dr Felicity Grainger Honorary Secretary Mr Janan Sulaiman Honorary Treasurer Prof.JohnBarker Vice-President DrCarolTrager-CowanVice-Presidentelected30thMarch2016 Prof.AlanShenkin Vice-President elected30thMarch2016 DrGeraintBevan elected30thMarch2016 Prof.AlexanderBroadie DrColinBrown DrJohnCarnduff Ms Maria Fyfe Ms Margaret Houston MrMervynLovat elected 30th March 2016 Ms Jean McFaddenco-opted6thApril2016 DrColinMiller Mr Alec Mitchell RegisteredOffice D12160BothwellStreet(until30November2016) Glasgow G27EL

15LanarkStreet(from1December2016) Glasgow G1 5PY

IndependentExaminer LewisJOsborne CharteredAccountant 2FalklandAvenue NewtonMearns Glasgow G775DR

Bankers BankofScotland Gordon Street Glasgow G1 3RS

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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.

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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.

TRUSTEES’ REPORT (continued)

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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

TRUSTEES’ REPORT (continued)

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES ON THE UNAUDITED ACCOUNTS OF THE ROYAL PHILOSOPHICAL SOCIETY

OF GLASGOW FOR THE YEAR ENDED 31 JULY 2016I 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 examinerThe 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 OSBORNECHARTERED ACCOUNTANT 2 Falkland Avenue, Newton Mearns, Glasgow, G77 5DR15 March 2017

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General Kelvin Total General Kelvin TotalFund Fund Fund Fund

£ £ £ £ £ £INCOMING RESOURCES

Subscriptions 19,273 0 19,273 16,570 0 16,570Income Tax Recoverable 4,875 0 4,875 4,209 0 4,209Investment Income 4,611 0 4,611 4,462 0 4,462Interest Receivable 131 0 131 130 0 130Donations 1,700 0 1,700 1,225 0 1,225TOTAL INCOMING RESOURCES 30,590 0 30,590 26,596 0 26,596

RESOURCES EXPENDED

Direct Charitable ExpenditureHall Rent 4,088 0 4,088 4,814 0 4,814Lecturers' Expenses 1,952 0 1,952 2,380 0 2,380Refreshments 5,031 0 5,031 4,849 0 4,849Web Site Costs 265 0 265 84 0 84Printing and Stationery 2,279 0 2,279 2,203 0 2,203Postages 699 0 699 802 0 802Miscellaneous Expenses 564 0 564 364 0 364Donations made 500 0 500 100 0 100Special Event Expenses (net) 121 0 121 277 0 277

15,499 0 15,499 15,873 0 15,873

Management and Administration 9,859 0 9,859 9,849 0 9,849

Educational Grants 4999 0 4,999 0 0 0

TOTAL RESOURCES EXPENDED 30,357 0 30,357 25,722 0 25,722

SURPLUS FOR YEAR 233 0 233 874 0 874

CONTINUING OPERATIONSNone 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.

General Kelvin Total General Kelvin TotalFund Fund Fund Fund£ £ £ £ £ £

Opening Balance 263,250 1,703 264,953 254,979 1,703 256,682

SURPLUS/ (DEFICIT) FOR YEAR 233 0 233 874 0 874Change in Market Value of Investments 8,737 0 8,737 7,397 0 7,397TOTAL RECOGNISED GAINS AND LOSSESRELATING TO THE YEAR 8,970 0 8,970 8,271 0 8,271

Closing Balance 272,220 1,703 273,923 263,250 1,703 264,953

2016 2015

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES FOR THE YEAR ENDED 31 JULY 2016

2016 2015

INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 JULY 2016

16The notes on pages 17, 18 and 19 form part of these financial statements

Notes 2016 2015£ £

TANGIBLE FIXED ASSETSPresident's Insignia - Jenny Johnston Memorial Medal and Chain 1 2,690 2,690Fixtures, Fittings and Equipment 5 0 0Investments 6 236,553 227,816

239,243 230,506

CURRENT ASSETSBank 37,187 34,528Debtors & Prepayments 442 369

37,629 34,897CREDITORS : Amounts falling due within 1 yearCreditors 2499 0Accrued Charges 450 450

2,949 450

NET CURRENT ASSETS 34,680 34,447

TOTAL ASSETS LESS CURRENT LIABILITIES 273,923 264,953

CAPITAL AND RESERVES

General Fund 7 272,220 263,250Kelvin Fund 8 1,703 1,703

273,923 264,953

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

BALANCE SHEET AS AT 31 JULY 2016

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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 costInvestments - 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 Organisa-tion.

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.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 JULY 2015

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NOTESTOTHEFINANCIALSTATEMENTS(continued)FORTHEYEARENDED31JULY2016

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

£Cost at 1 August 2016 1,566Additions 0Cost at 31 July 2017 1,566

Depreciation at 1 August 2016 1,566Depreciation Charge for Year 0Depreciation at 31 July 2017 1,566

Net Book Value at 31 July 2017 0

Net Book Value at 31 July 2016 0

6. INVESTMENTS2016 2015

£ £Cost 45,273 45,273

Market ValueAt beginning of year 227,816 220,419Change in market value 8,737 7,397At end of year 236,553 227,816

The Investments are listed on a recognised stock exchange.

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NOTESTOTHEFINANCIALSTATEMENTS(continued)FORTHEYEARENDED31JULY2015

7. GENERAL FUND

9. COMMITMENTS AND CONTINGENT LIABILITIESThe 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.

2016 2015£ £

At beginning of year 263,250 254,979Surplus for year 233 874

263,483 255,853Change in market value of Investments 8,737 7,397At end of year 272,220 263,250

8. KELVIN FUND 2016 2015£ £

At beginning of year 1,703 1,703Donations to Kelvin Fund 0 0

1,703 1,703Less: Expenditure 0 0At end of year 1,703 1,703

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DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2016

£ £ £ £ £ £

IncomeSubscriptions 19,273 16,570Income Tax Recovered 4,875 4,209

24,148 20,779Investment Income 4,611 4,462Donations 1,700 1,225Bank Interest 131 130

6,442 5,817

Total Income 30,590 26,596

ExpenditureDirect Charitable Expenditure

Hall Rent 4,088 4,814Lecturers' Expenses 1,952 2,380Refreshments 5,031 4,849Web Site Costs 265 84Printing and Stationery 2,279 2,351Postages 699 654Grants & Donations 500 100Miscellaneous Expenses 564 364

15,378 15,596Special Event Expenses

Expenses 1,311 1,932Income -1,190 -1,655

121 27715,499 15,873

Management and AdministrationSecretarial Services 9,000 9,000Insurance 409 399Accountant's Remuneration 450 450

9,859 9,849

Educational awards paid 4,999 0

Total Expenditure 30,357 25,722

Surplus for year carried forward 233 874

2016 2015

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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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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

Lord Macdonald of River Glaven, QC, speaking to the Society on ‘Freedom in a dangerous world’ February 2017

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Agenda Item 4: Appointment of Independent Accountant Council recommends thatMr Lewis Osborne CA, 2 FalklandAve, GlasgowG775DRbere-appointedasindependentaccountanttoscrutinisetheSociety’saccounts.Agenda Item 6: Council and ElectionsThe President and Immediate Past President serve a term of two years.

President: Prof. Jan McDonald (1)

Immediate Past President: Dr Jeffrey Jay (1)OtherCouncilmembersareelectedannuallyforthetimesetoutinthe constitution.Council makes the following nominations: Vice Presidents: DrGeraintBevan (-) MsJeanMcFadden (-) Prof.AlanShenkin (1) Hon Secretary: DrMaryFraser (-)

Hon Treasurer: MsMargaretHouston(-)

Council: Prof. Alexander Broadie (1) Dr Colin Brown (2) Prof. John Barker (-) Ms Patricia Fort (-) Mr Joe Freedman (-) Ms Maria Fyfe (2) Dr Colin Miller (-) 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

OnbehalfoftheCouncil,DrFelicityGrainger,HonorarySecretary