Physics in action

Physics in action2010 Annual Report

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The Annual Report of the Institute of Physics 2010

1T h e A n n u A l R e p o R T o f T h e I n s T I T u T e o f p h y s I c s 2 010

Introduction 3

Report of the trustees for the year ended 31 December 2010 4

Achievements and performance 6

Science and enterprise 6

Opportunities 8

Communications and influence 10

Members 12

Capability 14

Activities in Scotland 15

Financial review 16

Objectives for 2011 18

Summarised accounts 20

Administrative details 23

Contents


Introduction

The general election in May 2010 confirmed the changed landscape of public spending, and the Institute, along with partner organisations, lobbied hard for a positive outcome for science in the Comprehensive Spending Review in the autumn.

As well as the Manifesto campaign making the case for physics to prospective MPs before the election, letters were sent to the Treasury and meetings were held with other ministers to emphasise the importance of physics to the economy.

In other areas of the Institute’s work, the Stimulating Physics Network ran more than 6000 teacher-days of Continuing Professional Development with an average satisfaction rating of 98%. An analysis of the pilot programme has shown an increase in the uptake of A-level physics in participating schools that is well above the national average.

The Institute published a number of influential reports, including a follow-up study on the finances of physics departments, a survey of academic appointments and three case studies – on radar, neutron scattering and synchrotron light – to highlight the value of physics research.

IOP Publishing’s journal programme continued to perform strongly, and more than 27 000 articles were published last year. Downloads of journal articles topped 22 million, while 25 titles showed an increase in citations compared with 2009. An open-access journal, Advances in Natural Sciences: Nanoscience and Nanotechnology, was launched at the beginning of 2010 and there were also two new online launches.

By the end of the year, membership of IOP stood at more than 41 000, including 3000 members of the scheme for 16–19 year olds studying a recognised physics qualification, 70% of whom come from within the Stimulating Physics Network. The free digital membership offer for undergraduates was taken up by 90% of those eligible. IOP conferences once again attracted more than 3000 attendees.

Internally, the Institute’s capabilities have been strengthened with the appointment of a Group HR manager and the embedding of the new pay-and-reward scheme, while a new strategy has been developed to guide IOP’s activities until 2015.

Prof. Marshall Stoneham became IOP’s President in October 2010, but died suddenly in February 2011. I believe I speak for everyone involved with the Institute when I say it was a privilege to have worked with him.

On behalf of Council I should like to thank those members who have contributed to our activities through our branches and groups, as well as the Institute’s staff, for continued excellent service to both the Institute and to physics.

Prof. Stuart Palmer FREng CPhys FInstPHonorary secretary, Institute of Physics

Introduction – a message from IOP’s honorary secretary

Report of the trustees for the year ended 31 December 2010

T h e A n n u A l R e p o R T o f T h e I n s T I T u T e o f p h y s I c s 2 0104

Structure, governance and management

OrganisationThe trustees of the Institute of Physics are the members of the Council. They are elected and appointed in accord-ance with the Royal Charter and Bylaws.

The president serves a two-year term plus the year immediately preceding as president-elect and a year following as past-president. The honorary treasurer and honorary secretary serve a four-year term, renewable for one further four-year term. All other elected members of Council serve a single four-year term.

Council is supported by a wide range of boards and committees, reflecting the size and complexity of the Institute. By delegating a significant proportion of the business of the Institute, Council is better able to ensure that the required time and attention are applied to overseeing that business. In addition, by widening the membership of boards and committees beyond Council members, greater representation can be achieved in the consideration of the Institute’s business. Furthermore, boards and committees are able to obtain, where neces-sary, specialist advice within or beyond the membership of the Institute.

The key roles of Council, boards/committees and the executive can be summarised as follows.●● Council – develops, approves and monitors overall strategy and resource allocation.

●● Boards – develop, approve and monitor strategy in areas of activity.

●● Committees of Council – fulfil governance requirements and/or approve and monitor Institute-wide activity.

●● Executive – implements and reports on strategy.

The main boards of the Institute are Business and Innovation, Education, Finance and Investment, Mem-bership and Qualifications, and Science. The main com-mittees are Audit and Risk, Awards, Diversity, External Engagement, Group Co-ordination, Honorary Fellows, International Development, Nations and Branches, Nom-inations, and Remuneration.

Formal induction is given to all new trustees. In addi-tion, all officers and vice-presidents attend a series of meetings with relevant Institute staff and advisers as part of the induction process.

Risk managementThe Institute maintains a register of significant risks and maintains systems to control and manage them. This is

reviewed by an Audit and Risk Committee, which reports to Council on a regular basis.

The Audit and Risk Committee has appointed PKF to carry out the internal audit function on behalf of the com-mittee. Its reports are reviewed at the first available com-mittee meeting and acted on appropriately.

Management and staffingThe day-to-day management of the Institute and its activities are delegated to the chief executive, sup-ported by six directors, responsible for communication and external relations, education and science, finance, human resources and corporate services, information technology, and membership and business. Publishing is delegated to the managing director of IOP Publishing Ltd who is not a director of the Institute. The chief executive leads a permanent staff which in 2010 averaged 401.

Council’s responsibilitiesUnder the Royal Charter and Bylaws of the Institute of Physics, Council is required to prepare financial state-ments for each financial year, which show a true and fair view of the state of affairs of the group and the Institute at the end of the year and of the financial activities of the group during the year then ended. In preparing those financial statements, Council is required to:●● select suitable accounting policies and then apply them consistently;

●● make judgements and estimates that are reasonable and prudent;

●● state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;

●● prepare the financial statements on the going-concern basis unless it is inappropriate to presume that the charity and the group will continue in operation.

Council is required to act in accordance with the Royal Charter and Bylaws of the Institute of Physics within the framework of charity and trust law. It is responsible for keeping proper accounting records that disclose with rea-sonable accuracy at any time the financial position of the group and the Institute and that enable them to ensure that the financial statements comply with the Charities Act 1993 and accord with applicable accounting stand-ards, including the Statements of Recommended Prac-tice 2005 “Accounting and Reporting by Charities”. It is also responsible for safeguarding the assets of the group




and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Objectives and activities

Summary of aims and objectivesThe Institute of Physics was established in its current form by Royal Charter dated 17 September 1970. The Royal Charter and Bylaws set out the object of the Insti-tute and the framework within which it conducts its affairs. The object of the Institute as stated in the Royal Charter is “to promote the advancement and dissemina-tion of a knowledge of and education in the science of physics, pure and applied.”

Up to 2010, the Institute was working to five strategic objectives.●● Science and enterprise – to strengthen the physics endeavour in creating and applying scientific knowledge, and hence provide economic and social benefits.

●● Opportunities – to increase the number of people with knowledge and understanding of physics by promoting opportunities for all to benefit from high-quality physics education.

●● Communications and influence – to be the leading communicator of physics to all audiences, increasing awareness of and participation in physics; and the leading organisation influencing policy on physics.

●● Members – to attract a larger, broader, more diverse and more engaged membership, encompassing all those interested in physics.

●● Capability – to ensure that the Institute has the capability and resources to achieve its goals.

Following a revision of the Institute’s strategy, the strate-gic plan for the period 2011–15 has seven goals. They are:

Research: To ensure the strongest research base in physics within universities, industry and other institu-tions – so as to advance science and develop skilled physicists and other scientists and engineers.

Application: To ensure the strongest application of knowledge in physics by industry, government, univer-sities and other institutions, and the most productive links between these sectors – so as to create economic value and resolve major societal challenges.

Education: To enable access for all to physics education of the highest quality – so as to develop skilled sci-entists and engineers, expand personal opportunities, and create an informed population for the benefit of the economy and society at large.

Scientific Communications: To enable access for all involved in the physics community to professional

scientific communications of the highest quality and provide assurance of their objectivity and rigour – so as to support the exchange of knowledge and facilitate scientific research, application and education.

Advocacy & Awareness: To engage with all policy mak-ers and the public developing awareness and under-standing of the central importance of physics – so as to influence decision makers, respond to concerns and shape the agenda.

Membership: To engage with physicists from all sec-tors, and all those interested in physics, providing rel-evant services and opportunities to become involved in physics, attracting a larger, broader and more diverse membership, and contributing to the development of the profession.

Capability: To provide the strongest capability required for the Institute to achieve its strategic goals – includ-ing secure and diverse sources of finance, a skilled and motivated workforce, effective systems, sound govern-ance and good principles of environmental practice.

Objectives for 2011 relating to these new goals are outlined on page 18.

Public benefitThe Institute meets the public benefit test set out in the Charities Act 2006 in the following ways:●● by the advancement of education in its many activities to support students, teachers, schools and curriculum development, to promote opportunities to benefit from a high-quality physics education, and of continuing development and learning by physicists, and those interested in physics, throughout their careers;

●● by the advancement of science through its role as a learned society, working with universities and scientists, supporting, promoting and publicising research in physics, funding for research, and the applications of research within the wider economy and for the wider benefit of society;

●● by the advancement of community development by supporting branches and subject groups, by involvement in international physics organisations and by the encouragement of volunteering within physics communication and education.

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives.

More details of many of the specific activities and achievements are set out in the following section on achievements and performance during the year.

Achievement, performance and targets


Income and expenditureTotal incoming resources for this goal were £1059 k for 2010, with expenditure of £2909 k to give a net expendi-ture of £1849 k.

Influencing the debateWork on the recommendations of the Wakeham Review of the health of physics continued during 2010. IOP con-tinued its work in reclaiming areas of applied physics, and meetings were arranged with the principal funders of research at the interface of physics and biology. Both the Institute and its Biological Physics Group have affili-ated with the Society of Biology. Within the HE STEM programme, the Repackaging Physics project has devel-oped an emphasis on applied physics.

The new IOP Business Forum launched in June with a meeting covering the future of UK physics, in response to European and government strategies, and on the pro-posed new technology and innovation centres.

IOP’s involvement with physics across Europe is con-ditional on constructive engagement with the European Physical Society (EPS). Good progress has been made with the development of a new strategy and structure for EPS. With the EPS, the Institute has produced two documents on physics higher education across Europe, and three more are in production. A database of UK Members of the European Parliament has been devel-oped, including any interest in physics, and the Insti-tute’s regional officers have begun to make contact with relevant MEPs in their areas.

Several reports have been produced, including a follow-up study on the finances of physics departments, a survey of academic appointments, and three case studies – on radar, neutron scattering and synchrotron light – to highlight the value of physics research.

Other highlights for the period include:●● Three sessions were organised at ESOF 2010 in Turin, on particle physics, climate change, and MRI and the Physical Agents Directive.

●● IOP played a major role in nominating individuals to serve on the REF2014 physics sub-panel.

●● A joint session was held with Newton’s Apple on informing physics PhD students about science policy.

●● Two town meetings were organised prior to the announcement of the Spending Review where representatives from EPSRC and STFC met with the physics academic community.

●● The Institute was a supporting partner for Chatham House’s first major discussion meeting on the impact of science on the global economy. Jocelyn Bell Burnell spoke alongside David Willetts, Adrian Smith and Brian Cox.

●● IOP has worked with senior figures within business to lobby Treasury on the subject of science funding and its importance to industry and the economy.

Physics for developmentThe Physics for Development programme is aimed at furthering the economic and social benefits that phys-ics can deliver and promoting educational opportunities in the developing world. The international development strategy was refined during 2010 following feedback from the African Physical Societies Meeting of 2009. The new strategy includes building on established IOP activi-ties: providing free or low-cost access to IOP Publishing journals in developing countries; offering free or low-cost membership to physicists in the developing world through agreements with their national physical socie-ties; continuation of the series of entrepreneurial work-shops run jointly with partners for developing- country physicists; and the roll-out of the Rwandan school project to other African countries.

Highlights from the 2010 programme included:●● Financial support to enable African physicists to participate in the January 2010 launch of the African Physical Society.

●● The entrepreneurship workshop held in Argentina in

Achievements and performance during the year

Science and enterprise

Our goal – to strengthen the physics endeavour in creating and applying scientific knowledge, and hence provide economic and social benefits.

IOP supports physics research and physics-based enterprise in the UK and Ireland, and internationally, to ensure that physics continues to underpin the health and wealth of society.



September, held jointly between IOP, the Argentinian Ministry of Science, Technology and Productive Innovation and Oxford University’s Begbroke Science Park. It built on previous workshops that were successfully held at the Abdus Salaam International Centre for Theoretical Physics in Trieste, and in India, Brazil and South Africa.

●● The government of Ghana’s agreement to support the IOP Ada Centre, the physics and electronics centre that opened in May with the aim of training local physics teachers in practical physics and IT skills, including the use of a virtual physics lab. Minister of Education Alex Tettey-Enyo confirmed that the government will contribute 50% of the project’s funds.

●● Teacher-training sessions being run in Ghana, Ethiopia and Uganda.

●● A proposal for a new Visiting Scientists Programme being accepted for funding through IOP’s involvement in the commission on Physics for Development of the International Union of Pure and Applied Physics (IUPAP). The programme will provide assistance aimed at helping research groups or institutions in developing countries to benefit from interactions with experts in research groups or institutions in other countries.

A fundraising campaign, “IOP for Africa”, was begun in December in support of the Institute’s work helping to train teachers and provide equipment for schools in Africa. Its aim was to raise £20 000 for a new resource centre, and members donated £15 000 within a month of the campaign beginning.

Nations and regionsIOP in Ireland, Scotland and Wales, as well as the regional branches in England, work towards the Institute’s goals locally, on national and regional policy issues.

Surveys of the destinations of physics graduates were conducted in Ireland and in Wales, following the survey conducted in Scotland in 2009. In Ireland, the Spring Weekend event included a discussion on physics policy for IOP members. In Wales, meetings took place between the IOP’s National Officer and members of the Welsh Assembly’s committees on economic development and on enterprise and learning.

In Scotland, the programme of MSPs’ visits to Lab in a Lorry continued to be a success. Eleven MSPs saw the

lorry at work inspiring the physicists of the future, lead-ing to a question being asked in the Scottish Parliament about the future funding of the initiative. IOP also fea-tured in a debate on science in the Scottish Parliament, and is a key partner in the Cross Party Group on Science and Technology.

All three national organisations have begun to produce manifestos for the 2011 elections to the devolved admin-istrations and for the general election in Ireland, and during 2010 have responded to policy consultations on topics such as physics education and innovation.

GroupsIOP’s specialist groups, of which there are around 50, are core to the Institute’s mission of advancing physics. They bring together physicists who are active in a range of fields, from highly specialised academic research to relevant management topics. Members can join as many groups as they wish free of charge, and more than 30% belong to at least one of them.

Formation of groups is initiated by members and administered by IOP staff with the approval of Council. Another new group formed during 2010 – the Nuclear Industry Group, which is concerned with all aspects of the nuclear industry, including both the civil and defence-related sectors, and reflects the diverse roles that physicists have within it. Its official inaugural meet-ing had to be postponed until 2011, although a meeting was held in November, entitled “The Physics of the EPR and AP1000”.

The Women in Physics Group once again awarded their popular Very Early Career Woman Physicist of the Year prize. This was won by Laura Harkness of the University of Liverpool and Laura Russell of University College Cork. The prize was sponsored by Shell.

Other notable group meetings include the Physical Acoustics Group’s Anglo-French Physical Acoustics Con-ference held in Kendal on 18–22 January, jointly organ-ised with the French society GAPSUS and sponsored by Groupe de Recherche, a network of the French scientific funding agency CNRS now linked to the UK with EPSRC funding; and Advances in Photovoltaics, organised by the Ion and Plasma Surfaces Interactions Group and co-sponsored by the Energy, Thin Films and Surfaces and Vacuum Groups – this was held at the Institute in September and brought together a list of distinguished invited speakers whose expertise covers the range of photovoltaic technologies.

“Members donated £15 000 within a month of the IOP for Africa campaign beginning.”




Policy IOP is a founding member of the SCORE partnership (Sci-ence Community Representing Education), which aims to work collaboratively towards substantial increases in A-level entries in physics and chemistry, and in the recruitment and retention of specialist teachers. The Institute has been very heavily involved in SCORE activi-ties, leading several projects including one on mathe-matics in science assessment. SCORE is now seen by the new government as the principal means of engaging with the science community on educational issues relating to students under the age of 19.

In its own policy work, the Institute influenced the deci-sion of the Training and Development Agency for Schools to set a target for the recruitment of physics teachers separate to that for science teachers generally, and to set targets for individual institutions. The target was set at 925 and this will be a crucial step in rectifying the under-recruitment of physics teachers and restoring their number to an adequate level.

Stimulating Physics and the HE STEM programmeNine regional physics networks have been set up as part of the Stimulating Physics Network, the programme aimed at addressing concerns about the number of stu-dents opting for physics at post-16 level. With all staff in place, 270 schools have been engaged for targeted support. In the pilot schools, where the interventions have had time to take effect, there have been increases in physics participation at A-level well in excess of the national average. The Stimulating Physics Network ran more than 6000 teacher-days of Continuing Professional Development with an average satisfaction rating of 98%.

In the HE STEM programme led by the University of Bir-mingham, the Institute has made good progress on devel-oping the Repackaging Physics programme. The University of Salford, the Institute’s principal partner, has seen a very large increase in undergraduate intake. There is also a new partner in the Integrated Science project. The develop-ment of video clips to use in the classroom has been com-pleted and several of the Institute’s pilot activities in other areas have been taken up by higher education institutions.

Equality and diversityThe Institute is committed to creating a more equal envi-ronment for everyone who studies or works in the field of physics, regardless of gender, ethnicity, social back-ground or disability.

Juno is a flagship project that sets out good employ-ment principles to support the recruitment and reten-tion of women in university physics departments. The Cavendish Laboratory of the University of Cambridge became the third Juno Champion in September and was recognised at the Institute’s annual awards dinner. More than half of university physics departments are now Juno Champions, Practitioners or Supporters. Seven practi-tioners have been announced and the first Supporter has come forward from Ireland.

The Institute worked with the Royal Society of Chem-istry to explore the experiences and career plans of postdoctoral researchers in UK physics and chemistry departments. The report found areas with differences by gender, subject and institution. In particular there was significant variability in the opportunities offered to researchers for personal development and access to impartial careers advice. Separately, a report was pub-lished of a survey of members with childcare responsibili-ties, and the recommendation to establish a carers’ fund has been taken forward.

Other highlightsOther highlights of 2010 include:●● A new Education Forum has been established and is able to contribute to the policy work of the Institute. The new website, www.talkphysics.org, is a very lively forum for physics teachers with more than 3500 registered users. A working group on Mathematics in Physics has been established and is expected to report to Council in 2011.

●● With the European Physical Society, reports have been produced on both bachelors and masters programmes, with a third on doctoral programmes on the way. Benchmarking statements on bachelor and masters programmes have been published, drawing heavily on material produced by the Institute on behalf of the QAA.

●● The Institute has successfully launched a personal affiliation scheme for PGCE students, who are being recruited by visits to ITT providers.

●● The Institute produced a series of three interactive

Opportunities

Our goal – to increase the number of people with knowledge and understanding of physics by promoting opportunities for all.

IOP undertakes a range of educational programmes with the aim of increasing the number and diversity of those who choose to study physics.



“The Institute is committed to creating a more equal environment for everyone who studies or works in the field of physics, regardless of gender, ethnicity, social background or disability.”

posters and distributed them to affiliated schools. All bear the words “Physics: see the world differently” and have images that change in response to specific stimuli: one glows in the dark, one is heat sensitive and one reacts to UV light.

●● As part of the development of resources for undergraduate physics teaching on the boundaries of the subject, material on biological physics is in the process of being published and the Institute is exploring other potential topics such as the environment.

●● For the materials that the Institute generates for non-specialist teachers, that for the 11–14 age range has been transferred to an easily accessible format on

the web and the first material for the 14–16 group has been produced.

●● The Institute was commended in the Equality Commission’s publication Like Minds on Different Journeys for work on trying to understand how to encourage more students from black and ethnic-minority backgrounds to choose A-level physics.

●● A conference took place at the Institute’s London headquarters in November on Barriers to Disabled Students in Science and Engineering. It was attended by around 60 people including staff from professional bodies, academics, HEI disability practitioners and those working in widening participation.



Income and expenditureTotal incoming resources for this goal were £38 421 k for 2010, with expenditure of £33 018 k to give net incoming resources of £5403 k.

A leading physics communicatorIn 2010 IOP’s journals publishing programme continued to go from strength to strength, with the publication of over 27 000 articles and an increase in electronic down-loads to more than 22 million.

Impact Factors released in June 2010 showed signifi-cant growth for the sixth year running. Twenty-five titles have shown an increase in citations from last year; 17 had an increase of over 10% and more than 40% now have Impact Factors above 2, reflecting the company’s continuing improvements to quality.

In March 2010, the IOPscience journals platform was made available to all customers to replace the Electronic Journals (EJs) platform. EJs was the first online journals platform and had won many awards in its time, but it reflected an older model of publishing. IOPscience was designed from the outset to reflect the way researchers use the web today and has many of the best features from commercial websites and useful web 2.0 technolo-gies. IOPscience had previously only been available to IOPscience extra customers; the launch in March made the benefits of the IOPscience platform available to all customers for the first time.

A manifesto for physicsInfluencing policy on physics depends on engaging with those responsible for making policy in government and in parliament. The general election in May 2010 marked a substantial change in the personnel involved.

To communicate the importance of physics to incom-ing MPs and strengthen existing relationships, IOP pro-duced a Manifesto for Physics detailing the Institute’s key aims: access to high-quality physics teaching for every child; funding for science that will keep the UK at the forefront of research; and a fiscal and regulatory envi-ronment that fosters innovation.

Members contributed to this process with the issue of postcards outlining the manifesto aims, which they could send to the candidates for their constituency, or hand

over to them on the doorstep.Centrally, IOP e-mailed all credible candidates to alert

them to the publication of the manifesto. Of the approxi-mately 100 who responded, 24 were elected and many of these have developed relationships with the Institute including attending meetings at IOP’s London headquar-ters to discuss policy issues, asking parliamentary ques-tions of ministers or tabling Early Day Motions on the Institute’s behalf.

IOP online Following a usability review of the Institute’s website con-ducted in 2008, redevelopment of the iop.org website began during 2009 and was completed with the launch of the new site in June 2010. As well as a redesign aimed at greater ease of navigation, the site now includes a greater tie-in with IOP’s outreach website physics.org and material that is updated more regularly as part of the move towards weekly updates.

A Web Focus Group has been established for further improvements to the Groups pages and a Web Policy Group set up to take an overview of all websites run by the Institute and IOP Publishing to ensure consistency on policies such as, for example, accessibility. A user review of the new site, in which around 300 people took part, was completed in November, and its findings will be taken up during 2011.

A New Media strategy has been established to guide the Institute’s increasing exploitation of new forms of communication such as blogging and social network-ing. At the turn of the year, the Institute’s Facebook page had 1100 fans, its Twitter feed was being read by 9700 people and the IOP blog – which also underwent an over-haul during 2010 – was receiving 12 000 page views and 8000 unique visitors every month.

Public engagement The Institute has developed a new public engagement strategy that encompasses its Physics in Society activi-ties as well as advocate engagement, and ties in with the long-term Strategy Implementation Plan.

During 2010, the website physics.org saw a surge in users following its inaugural web awards, in which a com-petition to find the best online physics content was run.

Communications and influence

Our goal – to be the leading communicator of physics to all audiences, increasing awareness of and participation in physics; and the leading organisation influencing policy on physics.

IOP Publishing disseminates research results in physics and physics-related sciences to the international community. Through its media, public affairs and outreach programmes, IOP also seeks to communicate key issues and influence views.



“IOP produced a Manifesto for Physics detailing the Institute’s key aims.”

The awards generated around an extra 50 000 visits to the site and more than 1400 registered users – registra-tion was a prerequisite of voting. At the end of 2010 the number of registered users stood at more than 35 000. The site received its highest ever traffic the day after the winners were announced, receiving more than 4500 visits.

Lab in a Lorry in the East Midlands came to an end in September 2010 after a very successful three years in the region. Lab in a Lorry in Scotland continues to be booked to capacity and during summer 2010 spent two weeks each at Glasgow and Dundee Science Centres. During 2010, the Scottish lorry undertook a tour of the north-western Highlands and Islands, funded by the Scottish Government, and visited schools that never normally receive science enrichment and enhancement activities due to their geographical remoteness.

Other highlights of the year included:●● Butlins: The Spooky Science show, part of the “schools out” entertainment programme at all three Butlins holiday resorts, was seen by an estimated 35 000 family visitors.

●● Physics in the Field: There were 14 events organised during 2010, including nine by members with the support of the Physics in Society team, reaching more than 22 500 people – an increase from 18 000 people for the same number of events in 2009.

●● Public Engagement Grant Scheme: There were 22 grants awarded in 2010, funding projects as diverse

as star-gazing activities for Brownies and music-festival-goers, rocket workshops at a nursery school and a camera obscura in a yurt.

●● SciCast Physics: Entries to the mini-science-movie-making competition were double the number in 2009 and the physics films set a new high standard for what can be achieved by young people making short films about science. Physics films dominated the annual Planet SciCast Awards, winning 10 of the 16 prizes on offer, including the coveted Best Film 2010.

Media coverageIOP’s media team has worked to ensure that physics remains on the news agenda with campaigning work on behalf of physics-based business leaders, physics researchers, teachers and students. One particular high-light of 2010 was the lead article in the business sec-tion of the Daily Telegraph calling for the Comprehensive Spending Review to deal favourably with science in order to benefit the recovery of the economy.

The media team also continues to promote papers emerging in IOP Publishing journals. Particular success stories included a paper explaining Brazilian footballer Roberto Carlos’s “wonder goal” free kick against France in 1997, which was one of BBC News Online’s most-read articles; and coverage resulting from a paper on the possibility of producing a “Harry Potter-style” invisibility cloak using metamaterials, which was similarly popular.




Widening membershipOverall membership numbers stood at 41 226 at the end of 2010 – comfortably above the target of 37 000.

Membership agreements have been signed with the Chinese Physical Society and discussions with the Indian Physics Association are well advanced. Agreements are now in place with the national physical societies of a total of 13 middle- or low-income countries, providing mutual benefits including the opportunity to take up free or discounted electronic affiliate membership of IOP. Elec-tronic affiliate members are able to access MyIOP, the Institute’s online members’ network, facilitating interac-tion with other members; get online access to the digital edition of Physics World; receive discounted members’ rates for professional courses delivered online; and attend conferences in the UK at members’ rates. IOP and IOP Publishing also began work to raise their shared profile in Asia, starting with an event in Beijing in July to mark the tenth anniversary of IOP Publishing’s presence in China.

An agreement was also signed between the Institute and the Royal Spanish Physical Society in November, which provides for members of the Institute to be able to attend conferences run by the Society at the same rates as members of the Society and vice-versa; for members of each organisation to be able to use the facilities of the other; and for the regular exchange of any relevant information.

The Institute’s youth membership scheme has attracted more than 3000 members. The Institute’s education department promotes 16–19 membership through the Stimulating Physics Network (SPN), which consists of 276 state-maintained schools across Eng-land. SPN has been instrumental in increasing the uptake of this new membership category – more than 70% of the 16–19 members are from this group. The free offer of digital membership for undergraduates has been taken up by around 90% of those eligible.

Expanding servicesConferences organised by the Institute attracted a total of 3086 participants during 2010. The largest single event was the Condensed Matter and Material Physics Division conference, which had 423 attendees and took place on 14–16 December at the University of Warwick, and the largest international conference was Quantum Dot, which had 352 attendees and took place on 26–30 April at the East Midlands Conference Centre. The largest one-day meeting was the IOP Superconductivity Group Seminar: Development and Applications of HTS Conduc-tors, which had 93 attendees and took place at IOP’s London headquarters on 15 January.

Showcase evenings remain popular with both employ-ers and students, and employers have been successful in recruiting graduates as a direct result of these events. Six companies hosted a careers evening in 2010: TTP, CERN, Oxford Instruments, BP, Dstl and Amec. The feed-back received from both employers and students was extremely positive, and these events will be continued in 2011.

A booklet on work placements was produced in Octo-ber as an addition to the existing careers materials. It features 30 employers, case studies, guidance on find-ing the right work placements and tips on making the most of work placement opportunities. The booklet was highly regarded by higher education careers advisers and academics and demand for it was high.

2010 saw a sharp increase in the number of members signing up to use the online learning courses, of which there are over 20, covering topics such as coaching skills, project management, negotiation skills, advanc-ing sales and more. The aim was to increase awareness of the courses and increase the number of users by 20%. The usage target was achieved within the first month of the new marketing campaign being launched.

Member communicationsThe members’ newspaper Interactions was redeveloped into a digital-only format aimed at further increasing impact and cost-effectiveness. Introduction of the new format was scheduled for February 2011. The branch newsletters were also replaced with an online news serv-ice and a new provider was chosen for the digital edition

Members

Our goal – to attract a larger, broader, more diverse and more engaged membership, encompassing all those interested in physics.

The more members IOP has, the more influential it can be in support of physics. IOP undertakes marketing activities to attract new members from a range of backgrounds, and provides services to help members promote physics throughout their careers.



“All IOP members living in the UK or Ireland are automatically members of one of 13 national or regional branches.”

of Physics World. Development of an electronic newslet-ter was begun, with its aim being to alert members to the publication of Interactions and Physics World and to inform members of a selection of branch news.

Membership activities All IOP members living in the UK or Ireland are auto-matically members of one of 13 national or regional branches. These represent a grass-roots link between members and the Institute. They undertake a range of activities from political advocacy to schools outreach.

Some of the highlights from 2010 include:●● In Scotland, the programme of MSPs’ visits to Lab in a Lorry continued to be popular. Eleven MSPs saw the lorry at work inspiring the physicists of the future. This led to a question being asked in the parliament about the future funding of the initiative. IOP also featured in a debate on science in the Scottish Parliament, and is also a key partner in the Cross Party Group on Science and Technology.

●● In June, the North East Branch hosted the NASA STS132 shuttle crew, who had just returned to Earth after spending a week onboard the International Space Station. The astronauts, including the UK-born Peter Sellers, gave talks to more than 3000 pupils in seven schools about space as inspiration. A group from Fishburn Primary School went along with mission commander Ken Ham as he visited the Centre for Advanced Instrumentation at the North East Technology Park before opening the second phase of the NETPark Incubator. The astronauts also gave an evening talk to a family audience of around 400 people at the Centre for Life, Newcastle.

●● The Lancashire and Cumbria Branch reached its 50th performance of the Galactic Gig show – the activity for primary schools involving hands-on science and drama has now been running for more than five years and has reached an audience of more than 2000 people. Additionally, the branch’s dramatic production of the life of Galileo has been recorded and 100 DVDs produced for distribution to local schools. It is hoped that the DVD will reach an audience of several thousand people. The branch is also pioneering the use of 3D photography as a means of interesting people in physics.

●● The Big Bang national science fair was held in Manchester in March. Highlights included a car driven there from London that was fuelled only by coffee beans and an exhibition stand focusing on the technology found in the typical teenager’s bedroom. The fair included the final of the National Science and Engineering Competition, for which the Institute sponsored a prize for physics. It was won by Keith Alexander and Erik Bews of Kirkwall

Grammar School, Orkney, for their work with Scotrenewables on hydrodynamic research. The Manchester and District Branch participated in the Manchester Science Festival in October–November, featuring a talk organised by the branch as well as several events for which it had given public engagement grants.

●● In Wales, science was reintroduced to the Urdd Eisteddfod – the annual youth festival of literature, music and performing arts said to be Europe’s premier youth arts festival – by a group of people led by physicists. A science pavilion focusing on Astronomy, Solar System and Space Science attracted approximately 10 000 visitors over the six days in a collaborative effort between IOP Wales and the wider STEM community. The activities also reached out beyond the Science Pavilion. Aberystwyth University Physics Buskers took their demonstrations out into the Eisteddfod field attracting the attention of those who would not otherwise encounter science.

●● IOP Ireland launched a poster campaign that saw a range of physics questions displayed in the advertising space on public transport with the aim to highlight the physics behind our everyday world. The four different posters, each with a physics question and three possible multiple choice answers, were displayed on buses in various counties throughout Ireland – Cork, Galway, Limerick, Waterford and Dublin – as well as on the DART and Arrow trains serving Dublin from surrounding counties. The posters were also being displayed on 200 buses across Northern Ireland. The campaign, which was supported by Discover Science and Engineering, was extended to include the questions on coasters for use in schools and outreach events. More than 1000 people have both texted in responses to the questions and viewed them online.

●● The South West Branch held its annual Festival of Physics in March, which included physics demonstrations related to everyday life such as the stress-fracture properties of a carrot, as well as talks on graphene and on climate change. The branch also organised a visit to the Oldbury nuclear power station in October, during which 12 members of the branch were taken on the first tour of a working power station since 9/11. Talks given in the South West during 2010 included a tour of 14 schools by a CERN physicist who spoke to 3000 students and teachers about the Large Hadron Collider with a talk entitled “Small particles, big experiments”.



Ensuring capability A Group HR Manager was appointed in May to increase integration between the two human resources teams in Bristol and in London, aimed at bringing greater effi-ciency and sharing of resources.

A new pay-and-reward scheme has been introduced and presentations delivered to staff to explain the new performance criteria and the change of emphasis in appraisals. Following a review involving staff in both Bris-tol and London, a new staff intranet is in development and is expected to be introduced during 2011.

Implementation of the PQASSO quality-management system is two-thirds complete and will need additional resources to finalise.

A new strategy for the Institute to cover the period 2011–15 has been developed with input from members, along with a three-year implementation plan, which will be communicated to members separately.

Fundraising has begun in support of the Physics for Development programme, as described on page 7.

InfrastructureThe finance function for both the Institute and IOP Pub-lishing has been reviewed and consolidated under a new Group Finance Director role. This will allow for a closer working relationship and more effective strategic plan-ning within the group. An integrated group financial man-agement system project is underway and a decision on the preferred supplier is expected early in Q2 2011. The Group Finance Director has undertaken a review of the group finance function and is expected to introduce a more efficient group structure as part of the financial management system project during 2011.

IOP Publishing is now in full project mode for its office relocation in the summer of 2011. A review of its future requirements, including location, space and workplace design, has been carried out and the company has identi-fied suitable work space very close to its current location.

A complete review of the group’s intranet has con-cluded that an “out of the box” replacement intranet is required to significantly increase the effectiveness of internal communications, both within the two locations and within the group as a whole. Selection of the most suitable product to deliver this began at the tail-end of 2010 and will conclude with purchase and implementa-tion in 2011.

2010 has been a tremendous year for IT at IOP, with major projects accomplished against challenging dead-lines including the new iop.org website, the Membership database and MyIOP upgrades and changes to the online CPD tracking software, MyPath. There is now much more conformity on our underlying technology across the Group including infrastructure, software applications and policies which will greatly facilitate interoperabil-ity and such things as support for Business Continuity and Disaster Recovery. Group IT purchasing is now fully functional.

Procedures and peopleThe appointment of a new MD for the publishing company was made, with Steven Hall appointed in July of 2010.

A review of the legal function was carried out in 2010 following the resignation of the Group Legal Advi-sor. An increase in legal support across the group was identified as a need going forward and so a full-time appointment is targeted, with specific time dedicated to supporting the Institute’s requirements.

The Group HR team is now working more cohesively and sharing resources and expertise. Regular meetings and development workshops are scheduled and sig-nificant time has been spent collectively assessing and selecting a new HR database system, due for implemen-tation in 2011. Amendments to the Institute’s pay-and-reward policy were implemented in 2010, which will be monitored and reviewed in 2011.

Capability

Our goal – to ensure that the Institute has the capability and resources to achieve its goals.

To function effectively, the Institute must ensure that the necessary funding, people, processes and infrastructure are all in place.

Activities in Scotland


“Approximately 8% of IOP members are based in Scotland.”

The Institute is registered separately as a charity in Scotland, and employs one full-time and one part-time member of staff to work exclusively on Scottish issues, particularly focused on relations with the Scottish Parlia-ment. One additional member of staff was based in Scot-land throughout 2010 for the Lab-in-a-Lorry programme. As part of the Physics Enhancement Programme six part-time teacher network co-ordinators are employed in Scotland, for half a day per week.

We have a national branch, the Institute of Physics in Scotland, for members living or working in Scotland and a sub-committee of the Education Board specifi-cally focused on Scottish physics educational issues. Approximately 8% of IOP members are based in Scot-land, and 129 schools in Scotland are part of the Insti-tute’s Affiliated Schools programme. Free membership of the Institute has attracted more than 1000 students from Scottish universities to join.

Highlights of 2010 include:●● The Engineering Policy Group Scotland, of which the Institute’s National Officer for Scotland is a member, held three successful briefings on energy at the Scottish Parliament.

●● Science and the Parliament was held in November. IOP had a high-profile stand and the prize for Higher physics was presented by the Leader of the Opposition, Iain Gray.

●● The Stirling Physics Teachers’ Meeting took place in early June with around 200 teachers attending for the day of lectures and exhibitions. A Physics

Summer School – a joint venture between the Institute and the Scottish Schools Equipment Research Centre – took place in May. A grant from RCUK meant that costs were kept low for teachers.

●● An outdoor workshop was run at the Grounds for Learning Conference in March. There were around 200 delegates from primary and secondary schools, early-years practitioners and local authority staff. A video of the workshop features on Learning and Teaching Scotland’s outdoor learning website.

●● The National Officer was the keynote speaker for the Great Caithness Weather Event, which launched a long-term study of the weather in Caithness.

●● The National Officer was chief scientist on an expedition to Svalbard in the Arctic with British Schools Exploring Society May–June.

●● IOP Scotland awarded grants totalling £15 775 to 10 organisations in order to support science engagement in a variety of ways.

●● There has been excellent coverage in local papers of the tour of Lab in a Lorry. The presentation of the prize for Advanced Higher physics featured in the Edinburgh Evening Standard. More unusual mentions for the Institute were in Trail magazine, where the National Officer was quoted on the subject of Brocken spectres; a geology magazine that highlighted the launch of an IOP-sponsored geodial; and the Caledonian Mercury on the subject of the cold winter.

Activities in Scotland

Financial review


Financial statementsThe financial statements for the year ended 31 Decem-ber 2010 are set out on pages 20–21. These were pre-pared applying the accounting policies and comply with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2005) published in March 2005.

Funding sourcesThe Institute received the majority of its funding from the activities of its trading subsidiary, IOP Publishing Ltd, and income from members either as membership fees or for additional services. Other significant sources of income include grants from government and other grant-awarding bodies, and from IOP Enterprises Ltd, a smaller trading subsidiary.

Total incoming resources in the year were £47.2 m (2009: £45.0 m).

Trading subsidiaries

IOP PublishingIOP Publishing is a key part of the Institute and continues to play a significant and major role by providing the pub-lications through which leading-edge scientific research is disseminated.

In 2010 the company enjoyed another excellent year. There was a major change to how electronic journals are delivered, two new partner publications were introduced and there was considerable focus on publishing only papers of the very highest quality.

This commitment to publishing high-quality research was reflected in the mid-year Impact Factor results, which showed growth in citations for the sixth year running.

In total, more than 27 000 articles were published in 2010, which equates to nearly 260 000 pages of research. Journals published or produced by the com-pany were read in more than 180 countries, and journal articles were downloaded more than 22 million times – a growth of 21% in overall usage on 2009.

There were many significant developments during the course of the year including the introduction of an e-only subscription option, which allowed IOP Publishing to hold 2010 individual journal subscription prices at 2009 lev-els for IOP Publishing owned journals.

The consortia business remained strong and we now have 118 consortia contracts in 69 countries, with over 2500 institutions benefiting from access through these agreements. As part of our commitment to developing nations, IOP Publishing continues to provide free or low-cost access to its published content for researchers in these parts of the world.

An open-access title was launched at the beginning of 2010, Advances in Natural Sciences: Nanoscience and Nanotechnology. The title is a joint venture between IOP Publishing and the Vietnam Academy of Science and Technology.

In another joint initiative, The Journal of Physics: Con-ference Series and the International Union of Pure and Applied Physics (IUPAP) signed a five-year agreement in October that will make proceedings from IUPAP com-putational physics meetings available as open-access publications.

In the online arena, IOPscience extra, our comprehen-sive electronic-only package, was expanded to include ProQuest’s Dissertations & Theses database. The Phys-ics World Archive was also added, making more than 11 000 news items, feature articles, comments and reviews available to IOPscience extra customers and IOP members through the IOPscience platform.

There were also two online launches to help us bet-ter reach some of the communities we serve. The first, IOP Asia-Pacific, is a web portal dedicated to highlighting recent research papers published by scientists from the Asia-Pacific region. IOP Asia-Pacific – asia.iop.org – also features interviews with scientists, the latest published papers and events, and has sections in Chinese and Japanese for more local science news. 2010 was also the tenth anniversary of the opening of IOP’s Beijing office.

The second online launch was the Spanish-language site www.latinoamerica.iop.org, which has been designed to help create better access to our services in Latin America.

At the beginning of 2010, two iPhone applications were launched: IOPscience express and physicsworld.com newsflash. The aim of both apps is to enable custom-ers to access our content easily and both have quickly proved to be a huge success. New versions of both apps were launched in January 2011, making them OS4 com-pliant and iPad friendly.

In the business-to-business area of IOP Publishing, advertising revenues not only over-achieved budget but also performed well against strategic goals of growth in online revenues and increasing market share for advertis-ing pages. Our websites and business-to-business maga-zines (Physics World and titles including CERN Courier and ESRFnews, which are published under contract for partner organisations) have continued to make high-value scien-tific information readily accessible and are producing high-quality new media output. Physics World released over 20 videos during the year, which have proved immensely popular and have contributed to IOP Publishing’s excellent reputation in the global physics community.

In July, IOP Publishing appointed a new managing

Financial review

Financial review


director, Steven Hall, a former commercial director at Wiley-Blackwell. A relocation plan has been approved by IOP Publishing’s board and the company will soon be moving to a nearby site in central Bristol.

Turnover for 2010 was £40.3 m (2009: £38.2 m), while gift-aided net profit was £9.9 m (2009: £7.9 m).

IOP EnterprisesIOP Enterprises Ltd is the marketing and operations team that runs the Institute’s conference centre at 76 Portland Place.

Highlights of 2010 were:●● 76 Portland Place exhibited at RSVP trade show in April, bringing in a major new client.

●● IOPE secured membership of the Hotel Booking Agents Association.

●● The facilities in Franklin theatre were upgraded, and it is now equipped with an HD projector and state-of-the-art sound system capable of not only standard presentations but cinema screenings as well.

●● A new website, www.76portlandplace.com, was launched to advertise the building as an events venue and to take bookings.

●● Successful AGMs were held for SENSE, WHICH and Action Aid.

●● IOPE’s environmental initiatives were recognised with a Green Tourism Award.

Turnover in 2010 was £1.6 m (2009: £1.8 m), while gift-aided net profit was £0.3 m (2009: £0.4 m).

Reserves and investment policiesThe Charter and Bylaws confer power on the Institute to maintain income reserves. Council reviews at least annu-ally both the Institute’s continuing need for reserves and their appropriate level. The reserves policy set out below is based on and consistent with guidelines on the subject issued by the Charity Commission.

The strategic reasons for the Institute to retain reserves, rather than simply spend all of its income as it arises, are, as stated in the Investment Policy:●● to be able to make short- and medium-term expenditure commitments without the risk of short-term fluctuations in income forcing reduction in, or cancellation of, planned activity;

●● to reduce the level of dependence on income from publishing;

●● in the event of a material and sustained fall in income from other sources, to provide sufficient reserves to enable the Institute to make the changes in its organisation and activities necessary to respond to this in an orderly and planned way.

The overall investment objectives of the Institute are to achieve a minimum net total return of RPI +3.5%, after payment of fees over rolling three-year periods, using a diversified strategic asset allocation approach to mini-

mise the risk for this level of return.The market value of investments at 31 December

2010 increased from £19.0 m at the previous year end to £21 m. Investment income of £0.8 m was also received from this portfolio to give a total return of 14% for 2010.

Council has considered the level of reserves appro-priate to meet the above purposes and has determined that total reserves should ideally be of the order of three years of planned expenditure, excluding projects funded by external grants or fees (on the basis that fee-based activities such as conferences would not continue if no attendees were attracted). The required level of reserves on 31 December 2010 based on the current long-term plan, as modified by the 2011 budget, is approximately £30 m. On this basis, current reserves are equivalent to around three years of operating expenditure.

The current level of reserves is £32 m before tak-ing account of the pension deficit (£15.7 m). However, because of the extremely long-term nature of the pen-sion reserve, the reserves excluding this are considered a more appropriate measure.

Ethical investment policyThe Institute is a charity established with the objective of promoting the advancement and dissemination of a knowledge of and education in the science of physics, pure and applied.

The trustees would not want the investment decisions of the Institute to result in activities that compromise this objective. In the event that the trustees consider that any particular classes of investment choices conflict with this objective, they will provide a written list of such classes, or specific investments, to the investment managers and will require them to take such steps as are practicable and cost-effective so as not to invest in these areas.

FundsThe balances on the individual funds of the Institute at 31 December 2010 are considered adequate to meet their respective commitments.

AuditorsA resolution to appoint BDO LLP as auditors will be pro-posed at the next annual general meeting.

All of the current trustees have taken all of the steps necessary to make themselves aware of any informa-tion needed by the charity’s auditors for the purpose of their audit and to establish that the auditors are aware of that information. The trustees are not aware of any relevant audit information of which the auditors are unaware.

By order of CouncilProf. Stuart Palmer, Honorary Secretary76 Portland PlaceLondon W1B 1NT

Objectives for 2011


The Institute’s objectives for 2011 relating to each goal are as follows:

Research●● Continue to maintain and enhance physics degree programmes and prepare to expand the programme to encompass masters degrees.

●● Continue to support group and division activity and expand provision of the Research Student Conference Fund to postdoctoral researchers.

●● Continue to reward excellence in physics research through medals and prizes.

●● Continue to organise professional conferences to support research at the frontiers of physics and establish a new series of high-level topical discussion meetings to enhance the Institute’s reputation for scientific leadership.

●● Response strategy to the new funding landscape: to initiate a coherent series of policy and statistical reports, workshops, seminars and related activity to support and inform the Institute’s advocacy work in light of the significant changes to the economic and political environment.

Application●● Produce a series of short case studies/highlights of the use of physics in “non-physics” industries to solve problems and add value e.g. lasers/optics in checkouts.

●● Create a new web-based service to enable contact and knowledge-exchange between business and research.

Education ●● Continue to support specialist and, particularly, non-specialist teachers to improve their confidence and knowledge base by explicit CPD, enhancing our networks and by the development of online resources.

●● Maintain and expand our support for physics-based teaching in higher education including the promotion of greater participation, inclusion and diversity, harmonisation with other European countries and curriculum innovation.

●● Increase spread of HE departments engaged with the HE STEM programme and work towards the sustainability of the projects and the dissemination of the outputs.

●● Lobby and work with government to improve the drastic shortage of specialist physics teachers, with emphasis on removing the barriers in the system and better publicising teaching opportunities to physics and engineering graduates.

●● Work with government and independently to develop a coherent and challenging combination of physics curriculum and assessment; particular attention will be given to the role of mathematics in the subject.

●● Extend and complement our programme of widening participation, including new initiatives in overcoming barriers associated with disability and also establishing a pilot programme on encouraging more students into physics from the lower socioeconomic groups.

●● Build on our programmes supporting education and training in the developing world, Africa in particular, expanding as appropriate on the basis of successful fundraising.

Scientific communications●● Continue to develop IOP journals with an emphasis on the quality of content and services to our authors, referees, readers and all other customers.

●● Explore different ways of communicating the research we publish, through innovative use of new technology to enhance and disseminate it as widely as possible.

●● Continue to work with our international staff and publishing partners to explore the opportunities and challenges in scientific communication on a global basis.

Advocacy and Awareness●● Increase proactive media coverage focused on campaigning themes and on promotion of IOP Publishing journal papers.

●● Expand IOP’s public affairs programme to build on links with MPs, strengthen links with civil servants and optimise regional opportunities.

●● Expand IOP’s public engagement programme for adults.

●● Increase our influence in the European Union.●● Create a high-level forum of senior decision makers from business and industry.

Members●● Focus recruitment on practising physicists emphasising representation and engagement, improve administration, and introduce revalidation for CPhys.

●● Develop and launch new “offer” to convert physicsworld.com visitors and registered users into digital-only members. Accelerate spread of reciprocal agreements in conjunction with this offer.

●● Develop partnership with the Association of Graduate Careers Advisory Services and initiate partnerships with an equivalent body in Ireland; maintain the

Objectives for 2011

Objectives for 2011


programme of showcase career events.●● Update e-services for members; develop the services offered through MyIOP and increase usage.

Capability●● Appointment to the new role of Commercial Director for IOP Publishing.

●● Recruitment to the new role of Head of Governance to assist the CEO in the governance of Council.

●● Undertake a governance review and implement any recommendations to improve the effectiveness of Council and the board and committees structures.

●● Relocation of IOP Publishing to its new premises●● Full Implementation of new Group HR/payroll system with self service for staff and managers. Continue with the implementation of core financials across the

group as part of the financial management system project.

●● Implementation of new Group Intranet to provide more effective internal communications and knowledge management across the Group.

●● Implementation of a new Group procurement policy to achieve better and more cost-effective Group purchasing decisions.

●● Implement IOPimember.●● Implement a dedicated network link between London and Bristol.

●● Implement a backup solution from London to Bristol.●● Adopt Group-wide common approaches to IT processes and policies and aim for consistency on our external presence through the new Web Policy Group.

Summarised accounts


Summarised accounts

Consolidated statement of financial activities for the year ended 31 December 2010

2010 2009 Incoming resources: £000 £000

Incoming resources from generated fundsActivities for generating funds 2,758 3,622 Investment income 753 937

Incoming resources from charitable activities Science and enterprise 1,059 1,139Opportunities 2,747 1,676 Communications and influence 38,421 35,448 Members 1,543 1,368

Other incoming resources – 869

Total incoming resources 47,281 45,059

Resources expendedCost of generating funds

Fundraising trading cost (998) (1,343)Investment management costs (91) (75)

Charitable activities Science and enterprise (2,909) (2,859)Opportunities (4,917) (4,506)Communications and influence (33,018) (33,058)Members (2,302) (2,562)

Governance (394) (419)Other expenditure (29) –

Total resources expended (44,658) (44,822) Net incoming resources 2,623 237

Other recognised gains/lossesGains on investments (realised) 86 4,236 (Losses)/gains on investment (unrealised) 1,862 (2,159)Actuarial losses on defined benefit pension (483) (7,227)

Net movement in funds 4,088 (4,913)Fund balances brought forward at 1 January 11,892 16,805

Fund balances carried forward 15,980 11,892

Summarised accounts


Consolidated balance sheet at 31 December 2010

2010 2009 £000 £000

Fixed assetsTangible assets 8,463 8,618 Investments in joint venture 244 244 Investments 20,865 19,023

29,572 27,885

Current assetsStocks and work in progress 144 209 Debtors 9,946 7,227 Cash at bank and in hand 15,005 14,206

25,095 21,642 Creditors: amounts falling duewithin one year (22,956) (22,012)

Net current assets/(liabilities) 2,139 (370)

Pension scheme funding deficit (15,731) (15,623)

Net Assets 15,980 11,892

Restricted fundsRestricted funds 868 580

Unrestricted fundsGeneral fund 28,044 25,970 Designated funds 43 71Investment revaluation fund 2,756 894Pension reserve (15,731) (15,623)

Total charity funds 15,980 11,892

Notes to the accounts


Notes to the accountsThese accounts and notes are a summary of the full accounts for the year, which were approved by Council on 10 May 2011 and audited. They may not contain suf-ficient information to allow a full understanding of the financial affairs of the Institute. For further information, the full accounts and auditors’ report may by obtained (free of charge to members) from the group financial director, Institute of Physics, 76 Portland Place, London W1B 1NT. A copy has been filed with the Charity Commis-sion where it is available for public inspection.

1. IOP Publishing Ltd, the Institute’s wholly owned pub-lishing subsidiary, transferred to the Institute under gift aid its net surplus of £9.9 m (2009: £7.9 m), achieved on an income of £40.3 m (2009: £38.2 m).2. Total resources expended in the year were £44,658 k (2009: £44,822 k) of which 96.6% (2009: 95.9%) was in fulfilment of the Institute’s charitable objectives.3. The average number of staff employed during the year was 401 (2009: 409) and the total cost of wages and sal-aries was £17,199 k (2009: £17,297 k), including social security and pension costs.4. Tangible assets in the consolidated balance sheet of £8,463 k (2009: £8,618 k) represent the written-down value of 76 Portland Place including the Rutherford Con-ference Centre, the lease and refurbishments of 80 Port-land Place, together with computers, other equipment, furniture, fixtures and fittings in Dirac House and 76 Port-land Place.5. The market value of general investments as at 31 December 2010 was £20,865 k (2009: £19,023 k) as compared with the original cost of £18,109k (2009; £18,129 k). The unrealised gain of £2,756 k (2009: £894 k) is held in the investment revaluation reserve.6. Creditors include deferred income of £16,309 k (2009: £14,631 k), which includes journal subscrip-tions for 2011 received in advance of £15,853 k (2009: £14,190 k) and membership subscriptions for 2011 received in advance of £419k (2009: £329 k).

Prof. Dame Jocelyn Bell Burnell DBE FRS FInstP, President

Independent auditor’s statement to the trustees of the Institute of PhysicsWe have examined the summarised financial statements for the year ended 31 December 2010 as set out on pages 20–21.

Respective responsibilities of trustees and auditorThe trustees are responsible for preparing the summa-rised financial statements in accordance with applicable United Kingdom law.

Our responsibility is to report to you our opinion on the consistency of the summarised financial statements within the Annual Report of The Institute of Physics 2010 with the full annual financial statements and Trustees’ Report.

We read the other information contained in the Annual Report of The Institute of Physics 2010 and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the summarised financial statements.

Our report has been prepared pursuant to the require-ments of the Charities Act 1993 and for no other pur-pose. No person is entitled to rely on this report unless such a person is a person entitled to rely upon this report by virtue of and for the purpose of the Charities Act 1993 or has been expressly authorised to do so by our prior written consent. Save as above, we do not accept responsibility for this report to any other person or for any other purpose and we hereby expressly disclaim any and all such liability.

Basis of opinionWe conducted our work in accordance with Bulletin 2008/3 “The auditors’ statement on the summary financial statement in the United Kingdom” issued by the Auditing Practice Board. Our report on the charity’s full financial statements describes the basis of our opin-ion on those financial statements and on the Trustees Report.

OpinionIn our opinion the summarised financial statements are consistent with the full annual financial statements and the Trustees Report of The Institute of Physics for the year ended 31 December 2010.

BDO LLP, statutory auditorChartered Accountants and Registered AuditorsEpsom, Surrey, UKDate: 27 May 2011

Administrative details



Trustees

OfficersProf. A M Stoneham FRS CPhys FInstP (c,h,m,o, p, q) (deceased 18 Feb 2011), PresidentProf. Dame Jocelyn Bell Burnell DBE FRS FInstP (c,h,k,m,o,p,q), Immediate Past PresidentProf. S B Palmer FREng CPhys FInstP (c,e,f,l,m,o,p,q,r), Honorary SecretaryProf. C J Latimer CPhys FInstP (c,h,m,o,p,q,r,s), Honorary Treasurer

Vice-presidents Prof. D L Weaire FRS CPhys FlnstP (f,h,m), ScienceMrs J M Richards CPhys FInstP (d,h,m), Membership and Qualifications Prof. R J A Lambourne CPhys FlnstP (b,h,m), EducationDr N Apsley CEng CPhys FInstP (a,h,m), Business and InnovationProf. Sir John Pendry FRS CPhys FInstP (h,r), Publishing

Ordinary members of CouncilDr S Watt CEng CPhys FInstP (elected 1 Oct 2010) (g)Mr G S Bone MInstP (elected 1 Oct 2010) (b)Dr H S Obhi CPhys MInstP (retired 30 Sep 2010) (d)Mr D E H Smith MInstP (retired 30 Sep 2010) (b)Prof. C T H Davies OBE CPhys FInstP (j)Dr J P Reardon CPhys MInstP (g)Prof. B Foster OBE FRS CPhys FInstP (c)Prof. A M Macdonald CPhys FInstP (k)Dr E L Whitelegg CPhys FInstP (j)Mrs R Y Goss MInstP

Branch representativesMrs A Marks MBE CPhys FInstP (retired 30 Sep 2010) (e)Dr V M Vishnyakov MlnstP (elected 1 Oct 2010) (e)Prof. R M Bowman CPhys FlnstP (elected 1 Oct 2010) (e)

Group representativesDr G D Love CPhys MInstP (elected 1 Oct 2010) (l)Prof. B Hamilton CPhys FInstP (retired 30 Sep 2010) (g,l)Dr N K Wilkin MInstP (c, l) Dr D S McPhail CPhys MlnstP (elected 1 Oct 2010) (l)

Division representativesProf. J S Colligon CPhys FlnstP (retired 30 Sep 2010) (g,l)

Co-optedProf. D Parker CPhys FlnstP (re-appointed 1 Oct 2010) (n)Mr J Flint FlnstP (re-appointed 29 Nov 2010)

a – member of the Business and Innovation Boardb – member of the Education Boardc – member of the Finance and Investment Boardd – member of the Membership and Qualifications

Boarde – member of the Nations and Branches Committeef – member of the Science Boardg – member of the Audit and Risk Committeeh – member of the Awards Committeej – member of the Diversity Committee k – member of the External Engagement Committeel – member of the Group Co-ordination Committeem – member of the Honorary Fellows Committeen – member of the International Development

Committeeo – member of the Nominations Committeep – member of the Remuneration Committeeq – member of the Senior Officers Committeer – director of IOP Publishing Ltd

The Institute of Physics details

Headquarters76 Portland PlaceLondon W1B 1NTTel 020 7470 4800Fax 020 7470 4848

Charity Commission number293851

Scottish Charity Register numberSC040092

Chief executiveDr R Kirby-Harris CPhys FInstP

Senior Management TeamMr J Brindley, Director, Membership & BusinessMr J Cowhig, Managing Director, IOP Publishing Ltd (retired 5 October 2010)Mr S Fox FCA MInstP, Group Finance DirectorMr S Hall, Managing Director, IOP Publishing Ltd (appointed 5 July 2010)Prof. P Main CPhys FInstP, Director, Education & ScienceMs K O’Flaherty, Group HR Director



Dr E Taylor FInstP, Director, Communications & External RelationsMr J Walker, Group IT Director

AuditorsBDO LLPEmerald HouseEast Street, EpsomSurrey KT17 1HS

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