Royal Commission for the Exhibition of 1851 Annual Repoit and Accounts For the year ended 31 December 2021 Com/ The Aims of the Royal Commission 'I'he 1851 Iloyal Coininission's goveriiing document is its Supplement31 Charter of l 851. which reqiiires the Commission to 'iiicrease the means (pf i17dusti.ial ediication ayid teiid the iiillueiice ofscigiice aiid art Ilpuii productiLJe iiidustry" This was originally interprered as a reqIrement t() create a centre of intcllectual exLelleJiLe whiLh Lesulted in tlie acquisition of th¢ Soutli KensingJcon esrace and its subsequent development with miiseums, academic est2blishtnciits and a Central HAII af Arts and Sciences (the Royal Albert Hall). Later, in 1890, the emphasis WAS switched to the siipport OF individuals, starting wirh the award of Science Reseai'clI Scholarship.q from 1891. Today the Commission Luns its own schemes for.. Research Fellowship5 IndlistrlQj Fellowships Industrial Design Studentsl)ips Bliilt EnviLoiiiiient l."ellowships Fcllowship.s in Design In P2Ltneisliip with others it siipports.. Great Exliibitioii Scholalsliips Enterprise Fellowships It also siipports woitliy indfftvidlials and appropiiate organisations by Special Award5. The total number of individuals beiiig supported in 2021 was 1.36 Registered Cl)arity No. 206123
Contents Chairman's Report SecietaLy'S Report The WoLk of the 1851 Royal Commission Public Beiiefit Grant-making Policies Acliievenients iii 2021 6~10 COVID-19 li Fiitule Plans 12 Awaids Granted in 2021 13-20 Awards Completed in 2021 21-38 Aluinni Awaids, HonouLs and Acliievements 39-41 Repolt by the ChaRLmaD OE the Finance Co]nmittee 42-44 Statement of Commissioneis, Responsibilities 45 Independent Auditor's Repoit 46-49 Stateinenr of FinanLial Activities 50 Balance Sheet 51 Cash Flow Statement 52 Notes to the Financial Sracements 53-71 Administrative Infolmation 72-73 Commissioners, Committee Members and Staff 74-76 PLofessional Advisers 77
Chairman's Report
In common with the nation as a whole, we were greatly saddened by the new8 of the death of HRH
The Duke of F.dinbiirgh on 9 April. As OL]r President for f¢Jrty-FouL years, His Royal Highness played
a leadinLT rule iii modcrnising the Commission, and that it coiitinues to rhrive coday is due iii great
measure to his influence ancl intei'e51: he g<ive LIS SO Inucli af his time And continLied to Follow nui.
fortunes and (Trffer encouragemcnt throiigliout his retircment. We loo1< back with great fondness
and rcspect for a tnost rcniai.kable man, whose vision 2nd deterinination qh2ped tlie Commission's
purpase For Inore thaT) a quarter of its exist¢Jice in tlie same spirst oiir foi)ndcr, Pi'ince Albert.
2021 began with Lontinued I'e5trictions on movement as a result of the COVID-19 pandemic, and
tlie officc did not Leopen unril Elie summeL. Tlius, £or a sccond yelL tl)e Annual fellowsliip i'oui)ds
were condiicted entirely online, a process which I'aD very qmoothly and prudu¢ed an excellent Lcsult,
witli some tLuly exctptiJiial new appointmenrs. For tl)e fiLSt time the Bi'unel Fellowship was ¥uii as a
sepalarc competition, arti'acting a sii'onL field as 1 Lesult, aiid it was vei'y eiicoiiraging to sec a recoi'd
iiutnbei of Lipplications fi'oin indu.stry for Industi'ial Fellowships, ieflecting well on OUL Fellowsl)ip
Probramme MaiiageL after liei. first full year in post.
Unal)It to nieet in person, we held our annual Alumni SLience Evening in Ftl)iuary online for the first
time. Althoiigh a POOL subslitiite foi. a live event, it did enal)Ic Iho.8e from further afield to ial
with which they interacted with each other. These gatherings of exceptionally brighr early career scientisrs, engineer% Ai)d clesignei's art ofren cired as one of the gi'eatCSt benefits of our awards and from tlie lively conversations around the rooni it wa5 Llear tliat they liad been much tnissed. Award holdeLS pi'esent¢d WOLk froni across rhe whole spectrum of Qui. woi.li to the President. including displays from oui. newest category OE award, che Technic21 Teaching Fcllowsl)iP? which aims to iinprove the qL]ality uf teaLhiiig the liurther Educatioii sectoi.. It was a most stimulatingF evening> aiid we are immensely giateflll t() Her Royal Higliness for her continued interest ID Qui. woi'k. November also saw rhe 1851 Groupy Lomprisii)g the CliaiLS and Chief Executives of the 18.51 legacy iiistitutions, come ti)¥cthci for tlie fii'st tiine in nvo year8. A.% well a% cndai'siiig plans foi. the Gi'eat F.xhibition Road FestlV21 111 2022, we discUsd one of tlie definiiig issue5 of oui tiine: tlie cliiiiate eincrgency. AlthougFli each instiÈlltion is already cuminitted 10 decai'bonisiiig their own fuutpi'int and in%pirinbF Lhange, there was a geniiine enthu.%ia.%m to do moi'c, and do more rogether, to tiialce All)ertopolis an exemplar zero cinission urban neighboiirhood. Tlius, the South Icensingroii Zero Emission NeibTrhbourhood ISoutliKenZENI initiacive launches in Januaty 2022 with the Commi&qion funding initial baselining wnrk. As the Royal Albelt Hall celeblated its 150th aiiniversai'yy albeit in a more muted sryle th2n originally planned, it was go<)d to See the completion of che public realm works aroiind the nolth of the builcling) which the Comnii5sion l)as l)elped to fund.'I"he iniprovemEnt to the settingF is spectacular, with more space aiound the noi'th purch and a much easiei. crossing to rl)e Albert MemTrrial. Phase tnore elegant barriers and 2 new surface- is easerly awaited. The last two yearb liave seen a significant tui'nover of Commissinners wirh foul. l'eaching the end of their ten-yeai. tei'iiis of ()ffice. l aiii vei'y gi'atefiil for tlieir suppoi't, and tliat OE tlie whole Board of Manageiiient who give so geIierDusly of thcir tiine. We liave soiiie excellent new Commissioners to replclce them who are already malcing their marlc. Our Secretary, Nigel Williams, retires in May 2022 after nearly twelve years in post. Nigel was due to retire in 2021,1)ut very kindly agreed to %tay Dn until we cnuld reci'iiit his successor in a more noj'inal post paiidemic world. He will be nilich mi55ed- lie lias doJi¢ a spectacularly good job and I cvuld oot haye had a mole thoughtful, engaged and h2rd-woi.king collea&e. Hib succe550r is John Lavery) and l am delighred tliat lie has 2gi.eed to join us, and I laolc foiwai'd to woi'king with him during my fin21 year. I roa have completed my teLTh of office and I rctii'e in Dccemhcr 2022 so tliis ivill be my final Annual Ilepoit. I have been a Coininissioner for inore thali eighteen yeais and At has b¢¢n a gleat plivilege to lead the Boai'd of Management fur the last teii years. l an] imiiiensely pinud of wl)at tlic Cointnission achieves. I have seen, duriiig my tinie a% g commi.ssii)ner, a five-fold increase in the level of oui- resouLces and # Loinmenskjrate increase iii the 2muunt vf worli w¢ are able to do ro Inalce a diEfeience to all the membeis OE our'l 851 fainily,. I will hand on rlie Cliairmanship to I.ord Icakkar and I am confident that under his leadei-sliip aiid wirh a very sti'i)ng and I'efi'eshed Boai.d OF Managemeiit, Ihe Coiiiiiiission could Iiot bc in bettcr liaiid5. l fii)ish by th2nkii)g 211 wlio have beeii pait of the Commission oj. lielped us as advisei's during niy tiine as c112iimaii. I seiid a parricLilar thaiik you to uur dedicated staEf and to all my fellow Commissionei's. I liave iio doul)t that'The 1851, will continue to flouri81) in miking a diffci'ence hy niceting the task set 170 yeai's ago by Pi'ijice Albei't-. to increase the nicaiis of indiist1121 ediiL2tioii. Bernard Taylor CBE DL FRSC.
Secretary's Report A5 the Chairman has intimated 3boYe, my time as Secretary to'The 1851, i5 almost lip and by the time rhis report is publishcd the past will be in the very capable hands of John Lavery. It lias been an eiiormous PLivilege to lead the small team charged with tlic day t() day running of this extraoi'dinary) but little heaid OE olgaiiisation, and oiic 0£ the greatest pleasiires lias been seeing the realisatioii dawn on peoplcs, faccs whcn I explain why.? Royal Commission set up tu orgFanise an Exhibitiun in 18.51 is Still so i'elevant today. Watching OLir emincnt commirtee membci's scle¢ting the most talenred early Lareer scientists, engineers, einbi'yoiiic desigiiei'5 and ciitLepr¢neurs, then obseiving them flnut'ish wirh rhc bcncfir nf nui. %upp()rc ()ver rhe cuur8e ()f their awards and beyond, has been one of tl)c mast J'ewai.diiis aspects of tlie job. The 18.51 family 18 2 rem2rlc2ble body whose influence and Lontribution aLross the board coiitiniies to grow. Equallyy being at the lieart OE tlie iiiiique CLiltural communiry rhar is Albertopolis which, with the lielp of the 1851 Group and thc bruadLI. F.xhibition Road Cultural Group is doing more together than ever hefrirc, has1)een ali unforsettable experience in whicli I have been ijiijiiensely PLoiid to have played a P2Lt. My only frLlStiatiun is that, despite my best effoi't.%, we are still I'elatively unhe<ird of. I leave that ch211enge far my successorl I am iiicledibly grateful for all rhe support I have received from the Coiiimissioners, coniinittee illembers, staff and award holders and my colleagues across thc legacy cstc1te and beyond ovci. more than I l years and I wisli tlie Coinmissitsn every siiccess going forward. Nigel Williams CF.ng The Work of the 1851 Royal Commission The Commission's aim is to'make a difference. i)y providing educational fellowships 2nd Studeiitships to the vely best early career scientists, engineers and desIlerS. success is liard to measui'e within thtt ¢onfinÈs of a Sing1¢ yeai. l)ut lool<ed at over che longei. tei'm the Commission's achievement is evident, with 13 Nobel Prize winners and ov¢r 150 Fellows of the Royal Society anioiig its plevious award winners."fiie case studies ol complctlllb felluws and sumin2rie5 of alutnni achievements later in this repurt alsv bear witness to the Coinmission's success. In additioii to its core fellowship schemes, the C(Trmniissioii also PLuvid¢s spccial awards to its legyacy institutions, to other organisations working to encourage STEM18cience, technology? engineering and mathcmaticsl educatioii and to organisarions that can help facilitate access to its inci'edible aLchives. Details uf sornc of tlic5c awards and the iinpact they liave made can also be follnd later in this report. As well as che grants that it makes, the Commission itself orgaiiises a number of educational and netwnrlcing evenrs for the henelir nf lis awai'd haldei's,.qliimni, leEa¢y institution% and rhe genei'al piiblic, which togethei. tnal<e a Significant coniLibuLion to STE,M edLILation. The Commission was origin211y established hy Royal Charter in 185Q under the Presidency of l)I'inc¢ Albcrt, to organise and stage the Great Exhibition. Held iii the spectacular Crystal l)alace, LoiistLUCted in Hyde Parlc, ir was tlie firsc evei Woi'ld Fail, and the most successful. Witli uvcr Six million visitor.8, it al%0 Inade a sul)stanrial profit. Consolidated by Supplemental Chirter, and enjoined to iiivest the surplus from the Great Exhibition strictly in accordance iuith the ends of t17e Exbibitioit...[to] increase the iiieans nf industrial edifcfitioii aiid extepzd thE iizlliieiice o[s¢ience dnd al't iipvji lJi'i)dMCtive lild$try tlie Commission purchas¢d 87 aci'eg nf land in S(iuth Kcnsington aiid hLlped L5tablish it5 three great museuins, the Royal Alliei't Hall 2nd renowned institutions of learning, incliiding Imperial Call¢gc and the Royal Colleges of Art 2nd Music. Wlitji tliis huge ujidei'raking was complete, thei'c rciiiaiiied sufficieiit fiiiids Eor tlie Comniissioji to initiate, in 1891, 8 progi'ainjiie of fellowships and 5tudentships to suppoi't pure i'eseai'ch iii sciei)ce .Ind engineeringy applied research in industryy indiistrial design and other projects.
The Commi8sioii continues it5 worl< to this day) both managing its fi'eehold estate and awarding £4m a year in iesearch fellowships, desigii stiidcntships and otlicr gi'ants. Tlie provision of loiig leases to the legaLy LollegFes and the Royil Alberl Hall also makes a very substantal Lonci'ibution to scieiiiific, eiigineering and arti5ric educc1fi0n. Public Beiiefit Tlie CoiT]missioii eiisuiE5 that its woi'k is foi. the public benefit aiid takes full accnunt ()f tl)e publislied Cliarsty Comiiiission guidance. Tlic C.oniInissioJi's ¢YCI)ts and awai'ds progLainiiies and suppolt of the leBY1Ly institutions i'epiesent identifiable l)enefits and al'e available ro all elib7ible membei'5 of the public. They satisfy the primary charitable puri)nse of the adyxnccment of educatioii. Grant-mal<ing Policies The Commission primarily pursues its charitable purposes through the award of grant.% to individuals aiid oi'gani%atiaiis."fiic C.ommissiorJ awards grailts uiider a nuinbei of defined pi'oglainines. FL]11 details of the tei'ms aiid coiiditions for each prograninie, iiiLludiiigr appliLatioii foi'ms and deadlines where appi'npriate, are pi'avided nn the C.ommi8.%ion's w¢bsitc. A brief summary of the tllajnr Plogrammes wliicli tlie Commission siipports is provided below.. Schemes admintstered by the Commission: Post-doctoial Reseai'ch Felloivships in Science or Engi17eering These are intended to give eai'ly careel scientists oi. engineers of exceptional promise rhe oppnrtunity to condiict a I'cscarch project of tlicii. owli instigation- an ultimate objectivc IS to contribiite to the IcIiowl¢dL7¢ base required for a li¢althy aiid iiiiiovative iiational culture. Alouiid eight to teii awards are made each year, including one ai. more Brllnel Fellowships for engine¢ring projects addressing the primary inflastructurc necds of modern society. The awards are foi. up to thi'ee years, subject to annual Leview aiid encompass an annual stipend and sOe support for travel aiid otlier expense5. Industi'ihl Felloiusljips These al'e sntended to encoiii'age profit21)le innovation and creativity in BLitish industry. Pj'ojects in any scieiice oi eIigineerii)g discipliiie will be consideled. A variable Iiiinibcl of awards- usually alound ten co fifieen- is available each year depending oil the fiiiancial value vf iiidividual awai'ds gi'<lTlted. An F.RA Foiind.Ition Fellowship foi. the elecrro-rechnology Sector 18 aw21.ded as part of the sclieme. lielluwsliips ale awarded to selected exceptional graduates with che potential to make an outstanding contribution to industry) for a programme of research, suppolted by their eiiiploying / sponsoring company) leading tn a i?atent) product r)r proce55 improvcmcnt in CDnjunctioii with a liigher acad¢i)iic awai.d. Awai'cls are for up tu three years, SL]bject ¢0 aiiniial review ancl iliLlude a contribution towards living costs, a trttvel allowance, an honorariuin for the Iiost universiry uiid ill clPPLopriate cases 2 conti'ibution towards universiry fees or towards the cost of enhancing the iesearch pioject. Iiidifstridl Desigpi Studciitslyips Thc5c are intended to gtimulate industrial design capabiliry aniong the country'5 Inost ablc science aiid engiiieeriiig giadiiates. Aloiiiid eight tr) teii awcirds are nffcred each year fot oiitstanding engFineeLs or scieiitisrs wliu wi511 to develop their Lapal)iltties in iiidustrial design by taking a recognised Master's coui'5e and wha aspire ro become leading designers in Bi'itis11 indLlStry. The awaid is for lip to two yeai's And includes a sripend, Inatci'ials alloivancc, ti'av¢l allowaiicc and conti'ibution towards tuitiuii fee5.
Fellowsbips ix Design and the Built F,nvironment Awarded in alrernate years, thcsc F¢llow£hii)s each provide a stipend fol up to two years to enable those at a more advaiiced stage in their career to explore important currcnt issues. selected by the Commission. Schemes administ¢redby other organisations: Eiitei'prise Pelloiuslyips Awarded throiigh tlie Royal Academy Df F.nginecring IRAEngl, tliese fellowships are opeii to outstanding UK-resideiit cn£iii¢eriiiL gLadL]ates seekiiig enti'epreneui'ial siicccss. A package Df tailoi'ed Incnturin¥? training and grant funding will enable recipients to pui'sue LotniT)eicialigation of tlieir technological ideas. Originally three fcllowships a year were available, but this has now been increased tu six. Gi'eat Exlyibitioii Scbolai'ships The Commis£inn's 5-ycar cotnmittncnt to thi% sclieme ended in 2018 when ten Schol7rS1]jpS wcrc awarded. ThE5e sLholars will gradiiate in 2022. Awarded throii&l) The In.stitutian of Engineering and Techn(Ilogy IIETI, these sLholarships were open tv UIC residents who achieved 3 A Lirades ur above at'A' level or equivalent joiiiing an IET l¢credIted undei£i'aduate degiee. Up tn ten scholarships a year weLe available. Scholars r¢ceive an anniial stipeiid. Simi12r scholarships continue to be available through the IET. Special Awards.. Altliougli tlie educational piogrammes described above represent the lion's share of its grant givings tlie Commissioii also responds to all those requests for fundinbT that cofflmend themselyes through the Special Awai'ds proccdLire. Herc the aim 18 to a.Isist worthy individuals, organisations or projects whu5e aiins ili tlie bi'oadcst Sense aliLFn to the Commi5SiUiI'5. and all appliLations ale carcfully scrutiniged at an apprnpri2te level accnrding ro the amount of support requested. Graiits range from a Eew IiLindred POL]nds to over a hLJndred thousand pounds. Whilc Commissioners i'etiiii considei'able flexibility iii pt'iiiciple, iii pi'actice a majority of special awards aL'C mad¢ either to instiri?tiDns on the Commission's legacy estate or for educational outreach w(Trrk l)y like- minded organisations seelciiig to dLaw the attention of the yoijng to the opportllnities presented by science, engineering and design. A small numbel of grants are also made to Eacilirate access ro the Commission's archives. In addition to the 2bove.%chemes, the Cnmmission also administers, in conjiinction with the Sir Misha Black Awai'ds Coinmittee, two awards iii tlie field of design education, foi. which nominations are snlight e2ch year. Trull derails are uvailLible oil the Comtnission's website but In brief these are: Si?. Misha Bl&ck Medalfor Distinguished Sgrvices to DesEgn Education Global in re2clI, the Medal acknowledges rhe important conti'ibLltion of individu21s to the teaching of desigll 2t 211 levels, from anywhere in the world- as designers, as champions, as mencors aiid as educarc)rs. Sirmishfi Black Aivords for Innovlltic)n in Desisw EIlHcat¢o Salutes educator5 from acr055 tlic Uiihted Kingdoni and Lelebratcs tlie iiinovative achievements of instituti()n.4 and individiials. Recipients may receive a bursary of £10,000 ro advance rheir work in innovative design education. Together the Sir Misha BITr clc Medal 7nd Awards recognise those wliD by iiinovatiun, vision and coiiti'ibution to theory or pi-actice hav¢ measural)ly improved the educatlon of designers and enlianced the proliltt of desigiii eduLatiun.
Achievements in 2021
The core ictivity- and primai'y achievement_ of the Coinmi55ion is idciitifyii)g eai'ly careel science
aiid engineering ¥r2duate5 of cxccptional prun)ise and supporting their worlc with its prestigious
fellowships and studenrships. Full dLtail% of tlic awai'ds made dliring tlie year are given on pages 13
to 20.
The true impact of the cgomini55ion's award holdei's will only emerge over time, but some cvidence
of the siicccss of the v21'ioiis pi'ogramjiies can bc glcaiicd froin the achieveineiit5 UE tliosc b¢llows
wlio coinpl¢ted tlieil awards dui'ing> the year aiid th¢ positi0115 they go on ro secLILe. A repr¢s¢ntative
sample of case studies is provided on pages 21 to 38.
Many conipleting liellows coffltnent quite explicitly on rhe importaiice of their Fellowship to their
succe5S'.
The 1851 Felloivship iuas iiistrumeiital iii giLJiiig te a platfvrm to establish iiry oiun i?IdePeKdetLt
iesEarLb, aiid I'm *¢[1 to all involvedfoi. tl?esuPPort I receivéd otjer tl?e thi-ee yeais.
Dr Stephen Cox, Research Fellow 2017
l exti'emely grateful to tl?e l
Maiiy Fellows have been impacted by the pandemic and have appreciated the Commission's flexil)ility and additional suppoLt'. J wish to rake tbis oppurtiiiiity to thaiik you lor the e7idless oppoi'tuiiities that this fell(iivshiP hus bi'oilght. aitdfnr the Otstanding si£PPort dliriitg thE pandemic livithoiit the oddit1071al ijteasiires yom've taken to lacilitate workingfrrjm home, I would have not l?een al?le tn get to this Poiiitj. A special thank you to Am&lJl, foy the iitfinite Patieiice ivith iuhich he's dealt with my requests / questions. Dr Davide l.-offa, Rescarch Fellow 2018 Acadeinic aiid Industrial Siipervisors are Also vei'y complimentary abolit the Commissi()n's Fellowships: Tlyis is tlie foui'th Indllsti'iÉTI Felloiusbip that I have had thepleasure ofsupervisingaia iii my exP81'ieJtce, this is the best scheme I bfive ¢ome across loi- deLJ¢loPiiig individiials ivithin iKdustry that hfive the Pcjtejitial to wiidej'take J'esedrLh biglyei- degi'ee without t/yei hhviiig to sa6rifi¢e tl?eir Etnployment. Professor Andrew Lewis, Qiieen Mary University of London Based oil yygy excelleiit a¥l?ericJiLe, J will defipiitLIy i'eCOlgenlLJiid the Iiidiisti'ial Felloivship scheme to zy collÉdgLAes- It tvni'ked vely well, and I very 117uc17 aPPI'eci&ted the liiiiited amL)iliit tslpaperiunrk. yoii VEry to all membeis of ihe Royttl Commission foi. t17e EYhibitEOrt of1851 for tlge Proiffptlljid flawless support duriii&F this fellowship., Dr Patrick Grubei, Univeisity of Siilrey A morc complctc picture of the impact of tlie Commission's awards comes from the honours 2nd awards bestowed (>n mure senior alumni- some highliglits are given on pagyes 39-41. 'I'he re21-world impact of the wolk done by oui. aluinni should nevcr be underestimated. To give one iopical example.. S iuunted to seiid a sljort update on Jliy 2020/2021 role as the Leadscieiitist on tbe N14S GO VID-19 app, deployed in Engldiid aiid Woles, wit17 over 23m doivnloods. The t71&ruY¢thN?s deployedus pa?'t of the I'isk calciilatinn ivithijz the app ivei-e developed (in Part) dl-ll1g PbD, lls part of nry 1851 Commission Felloivship. The I'isk scurin&y al&Furithm lit the NFIS ÉTPP is considered to be ivorld leadiiig. I dduised Google and Apple on their rofidmap, IUOTked ivith iiations &roiiffd the woi'ld, aiid Piovided scieiitific evideiice to goveriiNieiit miiiistei's dmriiig the Peuk oltbe crisis to iiifoi'm decisions. I led the team that developed ihe scieiitific basis loi. Ihe app, in¢liidiFig eiismriiig tbut the app received MHRA Uppi'ovlll. We I'eGeiitly Publisbeda Pdpei. 112 Ni7tiirg sbnitsing thut thg app I'eduLed the Jttimljer of cases of COVID-19 by (mEdidiz) 600,000 iiz its first thyee moi7ths oloPeiaÈion (lyttPs..//www. xatiire.com/ai'ticles/s41586-021-U36U6-z), Ivhicb tiaiislates ipito ihoiisaiids ufputeiitial CO VID-19 relllted deaths rtvei'ted too. The success of the NH,S COVID-19 app is a dii'ect i'esMIt olmy 18.f I Coininission 14ellowshiP. Dr Mark Briers, Industrial Fcllow 2003 Moreover, the impact that our aliimiii go oil to acliieve is truly intelnational. To take a couple of further examples almost at random: 111 2021, I dcsi¥120d nitilexgineeredait accessiljle dll-iii-oite hdnd ztjfjsh station to help I¥prove hygiene itz I'efugee cllmps and otbei'rtreas of Iteed ai'nuiul tbeglobe. Tbe bund ivllsly stntion Jclivers a coiiiplete and considered solution, Ivljilst bciiig veiy cheop to tai1[(1?.e aird fits Perfectly in ali airsbipped pale¢t£, I'£dMLIFZX oEJerall costs. Thotssoiids nf tl?e hand ivashinystalions have beeFg deployed by OxIal to Lld?'IOHS refv&iee c(7mPs. Detailed [eÈdback bas shown theni to be veiy effective, reliable Popiilai. Ivith useis. Matthew Wliite, Industrial Design Student 1998
In 2021. one of the coiitPani8s I set at the e)Id ofmy Felloiuslyip, Offldnos Analytics, woi'ked in Kenya nteasui'iizg tl?e impact ofgeotheiM?dlplaiits on i'ural coiitmmnities, coxitc¢t117&N ubjectivespace d£7t£7 With the livecl expei-ieiice of those dispIL7ced by these l(77ge-scale cninplexes, andals() worked in Iiidonesia allowiitg locllls in the ai'ea to ti'ack tl?e daiNage LatsSEd by tdiliiig dL7mS oil Èheii. iiiubile phones t17foHgh niixiiig&ieoloLotio?2, Eal'th in7ageiy aiid local data colle¢tioii. Dr Stephen Greenland, Industiial Fellow 2013 Many of our alumni tell us tliat their Fellowship has made a decisive- and lasting- difEerence to their career-. Tl?e 1851 StLidei?tshiP when I was at the R(rydl c.ollege of Ait 117ade a h#ge diffei'eNce to me Pei'soiilllly uiid tvithout it, I do iiot thiiili I Ivuuldh&ve bgeii nble to alford to do the Inxouation Desigii ExgyiJteei-Ill&T masters 1gndgu on to foiind Concr¢)te Caiivas. Petei. Brewin, Industrial Design Student 2003 The l 8.51 .StudeiitshiP17ad a I28e imPft¢t opz niy career. The Ii'eedom itLYffoi'ded mei7nt thai I had the ?'esoiircss to do ttii intei'iiship with YContbiiidtr)I' Reseal'cb iii Los AiigLl¢s ovei. the sumtKer in bettijeejt tbe twu yeais of niy Master's, 17Kd tn coittinue that ivoi'k iii my secnitd yertr. The Priitcipal Iiivestigatoi. I tvoi'ked iuitb gave me fullfi'eedom, diid tlye tuork I coi?YpleÉed on novel interfL7CeS for pniisic soltivai'e eveittllally led to mc ntVV117&T tu Los Angeles to ivork with OMtpi£t to work 017 music cuti(117 t(Trols Msgd by bmitdi'eds oftl?nusaNds of inusiciaiis, iiicliidiiig soliie of the biggest pitsiiies iii np lsIC aiidfili?I sfnj-ffizg. T12Ey bi?ed nte to lead the desigiz of ts iieiv P?oject- tl?ei7" mos¢ ombilious to date- based on the luork dirtriigg my ti7ne suppoi'tcd by the Fellotvslyip. l am forevei'g'fiteflll. Althur Car2bott, Indu.%trial Desigii Srudeiit 2015 I tvug nii liidiist?'ial Felloiv fi'om 1998-20QI. tuhÈii tljc fayiiJ?iissirJiz fuiided i?iy Pl)D iii ui'tifiiidl iiitelligeiice. At tlje t17ne Al iijas so iinfashionable Èlyat tve played it doivii iii uiir Piiblicatiuns, bi£¢ Ivbi7t ive iiuiu call md¢bine leamix&F methods were key tn the Prnject s siiccess. Thi'ough this, I co-developed Al-l?asedsolttuui'e to medsui'e the quality of pl?oiie calls, £7nd iii 2000 1 co-fouilded spiii-oiit. I'sytechnics, to coiiimercifilise it. -rhe Gompthny Wtts acqiiil'ed iiz 2011 by oxe uf its Ciistomers diidstillempI(YJis 59 People in the UK. Afta. 15 yeais iii othÈY indiisti'ies, J bdve retiii'ned to Al aiid securedsubs¢mtial seed investment iii Liicida Medical in F£bmaYy 2021. Lu6ida Medical applies Al to find caiiLer iiz MRI scaiis, qmiclily aiid accui-dtely. OMI. vision is to enable e4rl)I detec¢ioiz of cuiicei-and impl'ove the uuÈc0777es of771illions of caiicei. Patiejits. Tlye coNilJaiiy hds Pr¢)gressed qtsicLI)i tscbieviiig its first CE 1¥ cei'Éificatioii aiid cnittpletiiig a gMcccss[ul tecbiiology iiitegraÈinii ivith GE Heoltljcare aiid the East Midlaiids Iijtaging Netwoi'k (EMRADJ- Wg are 7ioiv I'aising inyestmeiit agaiii tu Pmt the teGhnolvgy iiitu the haiids ofcliniciapls. It s a Privilege to l?¢, diuiuinsz unce iiiore on fi basis olresefirLb thut t19e c0171niission possible. Dr Antnny Rix, Indiistrial Fellow 1998 Eveit some of ottr mole recent initiative5, such a5 the gLaduate Eiiterpiise Fellowsliips ruli in coiijui)ccion wicli cl)e Royal Acadeiny uf EngineeiinbN, arL 2li'Lady haviiig significanc iinpact. Since Its inccptii)n in 2016, <?wai'dees have raised just under £33m iii extei'nAI iiivestment5 and graiits and cleated uver 200 jubs. As well as its core fellowships and stiidentships, the Commi55ion <ilso i'uiis a very successful Special Awai'ds pi'oglamine, supporting iiidividuals aiid institutioiis with similai aims tv th¢ Cummission. As in pi'tvio)U5 ycai's, many c)f rlic awai'ds i'ellect the Comniission's continiiing cnniniitment to r1( ising the 2wareness of the yoiing to tlie oppoi'tLinitie5l)i'ecnted hy science aiid cngineeLiI)g. They inLlude awalds to.. the Koyal Society of Cheinistly to support its Steps into Science probFLaiiiiiie providing resoui'ces foi. pi'iinai'y scieiice rel< chers. In2ScienceUK ro prodiice an engineering re8eai.cli ni()diile to encoiirage disadvantaged 5ccondai'y school student5 to considei a degi'ee in engineeriiig> Welliiigtoii Ti'ust F()I' its future Inarititne enLTiiieei's pi'ojeLI, expi)6inb young peijple and, signifiLinily) scliool
LaLecLS advisers to the brcadtli of STEM careei's in the maririme sector. and EDT for its virtual STEM work experience piojecty providingT 5ecuiidary school students with exposure to real STEM workplaces cven diiring the pandemic. Mast of these Special Awards are intended to have 2n Ampacc over many yeaLS, biit some initial siiccesses are already evident. For example.. The of tbe Royal Suciety of Cbemistiy's {RSC'sJ Steps into Science is to solve the cbullgiiges of Pritnary teacbers lu6kiiig £oiifidence 14Jid specialist kitoiuledge in scteigce, copIed t41ith iiot kiioiving iuhere to turn for'trusÈed' I'esoui'ces. l?y deuelopiiiga neiv Pi'imary sciwtce tvel)site briiigiiigt()gether in ()pte pldce, lorfi'ee, iiiore tbapz 160 NL)iu aiid existiiig, higb-qualily teaching I'esoiii'ces, iiicludi77g teuchei. iiotes, aiid siiPPQI't with £7ccesstitg coiitinMoMs Pi'ofessionol devEloPmentand1117?diit&'. The ivebsite iuent live in Februnry 2021. Since then, it has hdd 47,000 visitoi's. Over 2500 teocbgis bave signed up- nn top of the 7.5QQ Preyioiisly registe?£d iuith the RSC more broddly-givi?Ig them access to oiiguiiig siiPPo?'t. The fii'st I I PriFKa?'y sciepice iiivestigatioiis- eiigdgiizg expel'ltelitS tbat link to the ciirricMIM75g fi)r 7- 11-)ieai'_olds, including, demonstration videos. classroom sltdes detailed iznte5 to sx£PPoi't tedcbEis- bave been accessed more thax 27.50 times siiice being Mplded in Jiily 2021. Tlge RSC coyitinmes to develnp Steps ixto scieLe alld is curreiitly coniinissioniiig new cai-eers ?'esoui'ces ¢0 iigcliide on thLii' Mget the Scieiitists Page, along witb pla17s foi. a set o[cross-Luiyicular I'esources IEnking scieiice learningivith nwmerftGy4xd liter¢7¢Ji Resources traiislat8d ixto Welsh and Irish are nlso cui'i'ently being user tEStgd. All resoiii'Les rti'e developed in cnnsMItL7ti017 ivith Priiiidiy school teachers ipz ¢olldbor4tiu?i iuith other orgaiiisdtioiis siich as the I'i-iiiiry Sciertce Teaching Trustand Pi'in?ary.Science QuuliÈy Mark. Feedback ffom Msers of thesite has be¢ii very Positive. Or Rgain: EDTS Vii'imal Work Experience foi. 12-18- yei7r-olds ri7n at thestart of the Suin177ei' Bl'eak 2021. FDT rail ll weele nf live iiiteYaGtive sessioiis alloivi17g studeiits to eiigtsge iijith over30,STFM Pi'ofL)ssi017als from a variety of backgroupzds includinggraduotes aizd ftppi'grttices. Stiideiits tvei'e giveii insight into the diffei'6Jnt car¢eis and career pdthiuays uvniloble to theim, iuith speakers fi'om Sky, Voddphoiie, Comwood, Pyolusioii. I,eidos aiid mfiiiy more. The stiidents tnnk ptsi't 111 <171 indmstsy led n¢iKi ProjeLtat the end of each Jay. These incliided fi fiitiii'e techigologiES ri'eativg project. app desigii Projectanda vii'tiii31 reality desig41 Pr(iject, Ivhich involved creating a solution to a Pp-obleiil ivithiii thcii. local cnmniunity, that ca)t l)e coiiti'olled lry nji app. Studeiits also completed i-esearch Project oil opie of the comptsnies tbot fgntured dui'in&y their iueek. At tlye end of theip. woi'k arpei'ieiyce students stsljiititted thLJjI' zvol'kbook tvlyich ljelped tljem iellect oil the skills they bdd developed uiid the vtt7.ied PÉtthtullys they l?rtd heard about alongside employability skills activities to sHPPort Ci7reeis liuesessioiis they took Part 117. Oltl?e 250 students tl?at took Pai't, ovei- 50 % Ivgi-e BAME 07id over.fo % (emqnle, 16 /0 ivere on freescljuol mellls, 4 % sold they thre student cui'ers iLJbile 7 /. decl£7red they h(7d c7 disL7bility. )4 / of the s¢lldeJtts I'epni'tsd gi'eaterdivdreiiess olkey skills aiid coiifideitce iii their iiext steps aftci. ptti'ÈiciPaÈioii, 82,/. fjelt cunfideiit iiiakiiig cfireei- cboices compaled to just 52,/ Pi'e-Lourse diid 84 / indicated tljey ivoi.fld be Piii'siiin&Fd CLlteer ix STEM. As the examples above illustrate, the Coniiiiission fund% a wide l'ange of innnvative STEM iiiitiatives t varying sLales, recogi)ising that not all will acliicve liiiLF¢ siiccess, bLIt in the hope that must will transform individual lives, and soine will go on to have considevahle reach. A project from 2020 gives some feel foi. tlic iiuiiiber5 who can beiiefit: Gi'ellt Bi'itisly Minds is & sei'ies ofaiidio Programmgs, hroadcast nil Fiin KEds Radio and aijailftble os Podcdsts to listen aitd doiuiilodd, through ivbicly cbildreii cali fiiid out dbout 20 British illVElItois Itd teclyiiologists- Ivho they ui'eand ivbut they 4¢1?ieved-provicling iiisPiiaÈion fur the1 to L)xplore STEM Èopics. Fthch episode ferttures one inLJeittion. exhibited at the Cireat FhibitiO1¢ rtiid nne Ii'onz copiteiiiporary inventor. Coiitei?IPoraiy inveiitois fealui'ed iiiclude at leasÈ oiie 1851 alumnus. rhe
sei'ies also iiicluded ijif01711ation about the Greot E.Ihibition itself, Ivitly tips on hoi(J children cL)uld oiganise tbeii. oiuii Grent Exhibition foi. family L7ndfi'ieMds. Fun Kids Radio ulso pi'onioted the Great Exhibitio at Home CpetitiOn ()n ali. and oryliiie. The iiiitial bi'(Mdcdsts i'eacl?ed an tTiidi817ce of over 360,090 and the PodcL7Sts have been downlortded ovei. 12.000 tiiiies. The associated webpages tvith fui'thei. iigformatioii have beeii vieived ouei. 13,000 times. The 117atei.idls al'e stillavftilable oiid stillpi'oiitoted. A5 well as fllnding STF.M outreach projects, the CoJnmi5sion also provides Special Awaids to enliance irs legacy estate in Soutli Iceiisiiigton aiicl lielp tlie world leading institL)ti0115 of Albertopolis tu extend their reach. 111 2021 these inLluded support for the South Ken Green Trail and a new EmpathetiL F.ngineei' website.. The South Ken Gi'ee17 Ti'ail ivas dcsigned tn ivelLotne People buck tn Albei'topolis iii Suiitiiter / A¢ttumn 2021, wlyile also pi'onintiyig ui'baii bindiveisFty iuitb l?ubs lor iiatml'e, exploi'iiig iiispii'ing ideas for a gp'eeiierfuture. A series of free-to-visitai'chitectul'al instrtllfttions were c0nimissioed b)1 the Lrhibition Road Cmltiiial Gr0fr fi'oi?t gmeigi17g aiid sn?rtll ni'chitectuialpiactices, woi'kiiig ivith J.oiidnn Pestivnl of Ai'chitectlli'e, the V&A, GoetlJe-Iiistitiit llnd Scieiice Miiseiini. By bi'iffgi?Ig togethgi. leading design ard ciii'i'eiit I'eseai'ch iii biodivÈi'sitythndsMStaiiiabili41 btsilding c01117ectioiis tvitlg tlgg i(Joi'k within I$11t¢tIO17s on the legacy est(7te, tl?e iiisÈulldtEons ePi£omised tbe a?'ea's rvle in ProNioling debate and d?'ivi?Ig Progress to dddrcss SOLiety's iiiostpressing Ghalleiiges. Tli8 installatioits ivgi'¢ sÈ¢n by cir¢ft 1.5m visitors to Exbibitioii Rodd betiveeii 2.3 j/Y aiid 20 Octobei.. Aiidieiicg evdluatioig fou?Id that.. 95 /0 of visitf)I's agi'eed orstrungly agreed that the Installati1$ made Exbibition Roada ntore Ivelcontingand eiijoy4hle place to be 85 /0 vfvisitors a&tyegdhaving things to see ilt Exhibition Road makes them more likely to visit Soiith KeiisingÈoN llgaiii. The Empatbetic Eiigiiieei. is ll new tuebsite which Pi'ovides oiiliiie rESOUI'ces fnr engiiieei'iiigstudents, recentgrt7dMates dtzdpi'ofessional engineei's to cn&ble them to apply centred Ilesigii Pi'inciples lo tbeii. en&Jineei-in&'Piactice. The EniPaÉhetic Eit&iineei' was devel(IPed by the Royrtl Cgolle¥e nlArt aNd the Engineering Desigit Centre llt G711117I'idge Uniueysity tuitb iizpmt Iro1 the Dysoii School of Desigtz E7igineeriiig at Itnpei'ial College. It describes a lJigblystructMredprocess, Piovides line and dotvxloftd¢7ble tools, case sludies and videci conteitt cxamini?Ig best Pi't7ctiLe. The desi7 Prncess aitd tuolkit hL7ve l?een developed by Nick de L.ean aiid]ohit Clai'ksoii fi'oiii the RCA iyltd CaJ?Ibi'idge ?'esPecÈively and exploittt variEty ofexistiiig tools ancl methods aloit&i Ivith ivholly iiL)tu cunto'nt 117cIMdiifg case studiLJs 17Nd ixP¢iÈ fiotn 1 $51 Industi'ial Dgsigryi Student AIMm71i. T17e conteiit is open soiirce andfi'eely availfiblefoi'aiiy Individ1 or unEversity to use. Needless to say? noc all Special Awai'ds proceed completLly smoothlyy and Inany recent awai'ds are SL]ffering significant de12y,% in iinplcmenrarion a.% a I'esult of thc paiidemic. Ncvei'cheless, aneLdotal evidciice suggests thxc it is interventions 511ch a5 these thac cali Inake all the diffcr¢nLe in Stimulating yuung pevple to become the scieiitisrs ttnd engineers of tomorrow and the commis.sion remains committed to doing wliat it can. io
COVID-19
As niade clear in rhe Chaii'man's Report, the Coniiiiissioii, like every othei organi.%ation, has been
impacted by the pandemic. 5many evenrs had ro be cancelled and sume progTramincs ffluved on-line. In
teLins of its core gi'ant-maksng activity) however, the Commission has l£irgely been able ro continue as
planned and Commissioners do not believe that any adjiistments to thc accounts are required.
As soon as the possibility of a p2ndemic became clear, the Finance Committee acted to ensure that
tlieie wei'e sufficient casli or near cas11 assets in place to fui)d at least tlllee years, expenditure in
full. Tlii.% give confideiice rhac the Coininission would be able ro ride o)ur tlie immediate disLUPClOtJ
aiid need not curtail any of its prngrainines. The Commitree
Future Plans
A5 cxplained in the Chairman'5 report, the Comtnissioners helcl a Strategy Day dui'iiig tlie year at
wIIiLh a iiuiiibci. VE theiiies were discussed includingF the Iieed to do more to encciurage susrainability,
to promote go()d industrial design, and to ei)cr)urage exchange of ideas rhrough our alutnni iictwork.
Sustainability is a huge theme requiring action auross iiivesrn)entSJ grant mal
Awards Granted in 2021 Research Fellows Dr Thomas Bieitliaupt ,gt4bject.. Redefining the relationship between Lrystal defeccs and in2ntle flow Uttiveysity ofsoutbampto The prediction uf viscosities in the Earth involves substantsal cxtrapolation of IRboratory-dci'ived mnclels. Exrrapolarion i)f tt ii()vel theory m&11ces strikiiibly diffei'ent predicrioiis to ii'aditioiial flow laws. Tl)i5 project will test the hypotheses laid ()ut by thi.% new theoryj With potentially major itnplicaiion.% foi simulatioiis iiivolving flow of tlie Eai'th's inceLioi'. Dr Gregory Chaplain Subject.. Nuvel development of elastic mecarnaterials University ofExeter This pi'oposal aims to mathemarically model, simulatL and fabiicate elastic nietaniaterial devices wliich can passively control vibratioii. This.%hall be achieved by raking inspirarion froin successes in anal()gous eleLrromagrnetiL systems, enablingF the clesign of stiLECturedi periodic elastic materi21s whose compo.%ite nature endows them with unexpected wave conrrol plienomena. Dr Amparo Guemes Subject.. Development of neL]rotechnology systems far impraving glucose conrrol Untversity Ofcambdge Existin¥ th¢rapies for diabetes suffer frum shortcomings tliat hinder optimal b,lucose Lontrol. To overcome them, this project proposes a novel closed-loop platfarm that incorporates neiiiotecliiiology in traditional pliarinaceutlCl£ l-b25ed devices. This mlilti-disciplinary research will geiieraie novel hai'dware and albFOLltlims that can be exEended iu oihet. fields, Fui'cliel eiilianLiiibT its sr¢at.%cicntifi¢ siKnific2nce. Dr Tim IAmont Subject.. Ecnlngical function on restored coral reek LaNicaster University CoLal reeE iestoratiull L211 regiow coral, but can it provide food, income and coastal prot¢ction for vlllneiable communities, as natural reefs do> This pro)ject will evaluate the functional performance of i'estoi'ed coral reef.8, in ordei. co 01)timise gaals and meiliods tliat pr()vide meaningful l)eiiefit to people and nature worldwide. Dr Monireh Kabirnezhad Smbject.. A holistic appluach to neutrino-nucleiis intcraction calculations Ei)L neutrino cxpcrimcnts Imperial College Londo 'rhe purpose OF pj'oj¢ct is to biiild the most precise model for neiitrino-ntsclelis scattering by Lising tnodern statistical and complltational niethods. The researcli outcoine Erom this proposal will not only prndllce e%senti21 results for existing neurrino oscillation experimeiits biit will also piovide the crucial inpiit required Eor iiext-gciicration expcriincnts. rjr Jasmine Let Siibject.. M<2pping conservation Actions for Antarccic biodiversity facing rapid global cliaiige BiitisbAntaYctic Surney Climate changc is set to intcn.iify cllre4idy growing preg8iires on AntarctlC2 and its uniqiie species. Yet we Iiave liinited kiiowledLye of which conseivation actions to take or whci'c to implement tliciii. This pr()jLLt will determine how we can best conserve Antalctic species by tnappiiibF thi'eats and aLtions across time and space. 13
Dr Benjamin Wallc¢r Subject.. Multifi1AIeif¢ Nietbods on tlye iiiicroscale University CollegeLondon This teseaLLh will LUl15ideL the fluid.sti'u¢tui'tt nE¢1'actiOnS of slendei. elaslic filaments in a visCOUS fluid, ainiing co i'ealise coinpiiratioiial meihi)d% tliat al'e Simulraneoiisly efficienr and 2CCllI'ate. U.%ei-_ friendly and open-soui'ce iniplementations will Eacilitate a new genei'atioii of cross-disciplinary investigatioils illtu the Lich dyiiaiiiics of Iniclofilaineiics, spanninLY bioloLY? Inath¢macics and engrineering scieiices. Di Matthew Westaway Subject.. Simple iepresentation% of modular Lie algebras University ofBiniiinghnm The goal of rhis I'eseai'ch is to llnderstaiid tl)e.8iins)le representation tlieory of Lie algebt'as ov¢L fields of positive cliaLactei'i5cic.'Iliis sliall be done by usinbF catebTOLy tlieory ro compL)re the numbLr uf appearan¢¢s vf Lacli simple module in the composition series of ccrtain nice modules, c211ed baby Verma modules. Dr Philip Wijesinghe Siibiect-. Revealiiig cell mechanics with light-sheet microscopy Universtty of StA#dreivs Tlie role of nieLhanic5 in biology can be as important as ¢hemi%try aryd ¥enerics in development 2nd digea8e. This project proposc% a light-sheet microscope with 2n unprectd£nted capacity ro rapidly qU2ntify mechanics at Lelliilai. re501utioiis and ovei. lai'ge volumes. Kevealinby mechanics at this scale can implove therapies and disease deteLtioii. Brunel 14ellow Sailcumai. Reddy Yeddula ,Slll?ject.. Dynamics of the shock wavc in.super.sonic aii'_intakc systems Intperinlcollege Londo With che increased iiiteiest in hibli-speed aircraft and icro-to-low calboii einission engines this ploject will develop siinplified lowei'_order Inodel.8 to piedict the.qhn¢k re5poiise aiid improve engine aiJ'_intalcc pci'fr)rniance and then apply tlicse models to the air-intake OE the indiisti'ial liydi'ogen- power£d enBTine undei. developinent by Reaction Engines to e115uLe stabilityy efficiency. Industrial Fellows Daniya Aynetdinova Siibject.. Carionic cyclisation scades mediared by carb()n-electi'aphiles for the formation of novel polycyclic pi'oducts Sponsoi-: Veltex l)harinaLeuticals Untversity of Oxford Tliis projeLt aitns to d¢vcloi) a biumimctic cyclisation methodology to expand the exisring compoiind libraries in dilig discovery by stereoselective formation ol new carbon-earbon bojids in a divergent siiigle step procedule. I'liis would enable Inediciiial cheiiiists to rapidly cunstruct structurally diverse natural product-lilce scaffold5 to access tlieii. pliai'macnlogic<11 propei'ties. Allust0 Bariolome Diaz de Budalles Siihject.. Develnpmenr of a hiei-ai-chical ni< lloco<1ting cechnology foi- enlianced electi'ode efficiency OF ommercial alkaline electi-oly.Eers Spunsvi.: Oxford iiaiiosystems Untveisity College Londoii This project will develop a nanostrllctllred hierarchical coating, easily and cheaply applicable on tlie electiodes to significantly improve tlieii efficiency foA' Ri'ecn hydi'ogen prodiictiun. che12t'gei' pol'es will promote rapid niass tlansport wliilst the sinaller oiies will draiiiatically iiiclease tlie sulface alea witli more active c2talyric sites for Leacrions. 14
Kyle Bowman Subject.. Accelerating the coinniercial implementation of electrumethanogenic reactors Spn17501.: WASE Ujiiversity of WestNiiJister Electro-methanogciie5is IEMI is a pLoces5 wliere tllethane ss produced by microbial ¢onver8ion of electrical currcnt, hydi'agen and carbon diuxide ¢0 methantt. itnploves iipon anaerobic digestion, iini)i'oving ti'catiiiei)t times and efficiency. Fui'ther i'e.%e2rcli is needed 10 fully under.%tai)d and optiinise EM, so that it cali be of benefit tu society. Shefali Bhumbra SHbje¢É.. Developiiig a inedicine dcsigncd to modulate cancel. patients, immune 5yStenis to selectively eliminate canccruu% ¢ells Sponsor.. Adaptate Biotherapeutics Imperial College London Tliis ploject will ¢ontiibute to the development of novel antibody-based cancer mediciiics d¢signed to target V61 T-cellg, 2 specific irnmunc-ccll.%uh%et, t() eradicate & patienc's c21}ce1Uts tumuur. The project involves ch2r2Ctei'i7.ation of V61-specific antibodies to r2nlc rhe medicines, effcciivene%% as canL¢r therapeutics ahead of poiential clinical development. Liam Bussey Subject.. A quantutn optical receiver fur ultra-sensitive wiieless digital commuiiiLatiuns Spoiisoi.: BT U#iversity ()fBiiyiiinghatn The non-linear quantiim-optical effect OE electLomagnctically-indiiced-tLansparency IEITI in an atnmic vapoui. provides an ulci'a-seiisitive,Sl-ti'aceable electric-field sttnsor ar l.qdio fLequen¢ies IRII. This can be iised as ali all-aptiC21 electrically passive receivei. for analogue and digital RF cDtntnunicatiOn5. This project stlidies rhe use of the Ell. efEcct iii RF rommiinication systenis. Thomas Corner Subject.. Development of poteJJt AspH inhibitors as novel small-molecule anti-caiicer tlicrapcutlCS ,gpnnsoi': GSI< Untversity of Oxford Aspartatela5paragiiic-P-hydroxy12se IAspHI, a 2-oxogliiturare-depcndant oxygEnase, is overexpressed in several caiiLer cell types. Inhibition of AspH Latalysi5 is propvsed as a suLLessful mode of actinn for A novel, small molecule anti-cancei. thei'1( Pcutic. The prnject will focus on the design of efficient AspH inliibiroi's, tai'geting botli its 2-oYogliit2Late 2nd substrate binding pockets. Isobel Gordon SiibjLJCt.' Qiiantitative MRI of the bLeast parenchyJna to itnprove detection and diagnosis of breast cancer Sponsoi.. Pei'spectum University of Oxford Maininography is iiot effeLtive Eor pre-menopausal women aiid misses half of all tumoui's in 'den5e' breasts. Thi% project will devel()p quantitative, non-coiitrasi MRI nietliL)dolugies wliiLh will be applicd to the l)rcast parenchyma. This will Cli<lble earliei. detection of brea.st cancer with higher specificity, remove opei'ator variability aiid inipruve paticiit cutrEfort. Ameliamarkfort Siibject.. Al teLhiiulobFies for the next gtrener&tion of quantiim imaging Spnnsoi.: Photek U4iverstty f)ILetcester Tliis project will explain wliy Inod¢i'n larg£-scale Ai'tifici&l Intelli£ence IAII is broadly 8Licce8sfLII, fi)cusiiigi on applicarioiis in quantutn iinabNjllb. Bi'idLF ji)g the Liap between existiiigy kiiowledge, which demand8 hiige voliimes OE data foi. guaranteed leariiing, and vast empirical evidence showing that such learning occurs un smaller datasets. 15
Dalle O'Dubhth#igh Subject.. Smai't gi'eeii nianufactiiring for mass cu5toiiiisation in the textilc industry Sponsoi.: Interf2Le UK Maiiufactui'ing Queeii's Ujiiversity Belfast Interface al'e & gloE)al L(Iininci'cil£ I flooring coinp2ny that manufactui'e carpet tiles ai)d resilieiit flooi'ing. Tlie aim of this pi'oject is to ¢valuate ancl implemeiit leadiiigF tethnoloLY to ti'ansfui'm IiiterF2Le's iiianufaLturiiig piocesses, allowiiibF (liein to meet tlie ev(Trlving customer needs of custuniisable, cotnplcx aiid smaller b2tch size products. Parijat Patel Si¢bject.. Ai'tificiAI intelligence to improvc cardiometabolic risk evaluation using CT IACRE-CTI Spo17501': Cai'isto Diagiiostics UKiverstty of Oxford This project will iimpi'ove eai'ly detection of dialicres) pre-diabetes and idenrificAtion of iiidividuals t rislc of future dial)etes and its cardiov2scular conditioiis fi'om routine cr scaiis usiiig Al ii)d deep learning methods. It will aid in pi'eveiiting future he2rt attacks and strokes, m2kinbF a profound impact on global Iiealrh welfare. Daiiiel Pybus Stsbject.. Alteriiative production merhodologies for formation of complex-geomctry graphite omponents fi'om recov£red graphite powder Spoiisoi.: Mersen UK Teesside Teesside Uiitveysity To develop new, inoi'bFaiiic binding materials to 3D print high-concentr2tioii gi'apliite componeiits a8 an alternative to ti'aditional machining. Material is s0111.ced From i'ecovered biraphite powdei., Se.egated to remove trace mer21s 2nd resiiis. A digital deci.%ion-makingr tool will he dcveloped to advise Ilie Inost efficiei)t manufacturiiig metliod 3ccoi.ding to experimental resiilts. Andiei-claudiu Roibu Subject.. Mapping brain netwoi'k activity From structural connectivity iising dccp learniiig Sponsor.. F. Hoffinann-LaKoche University of Oxf(Ird By usingF tlie larest advances in ncuruimaging and artificial intelligcnce, this pi'oject.%teks 10 addi'ess one of the major goals in neuro8cieiicc, which 1.8 iinderstanding tlie structure-fuiiction rtlationship uf the ceiitral nervous systems, by cieating a deEp leariiinbT model capable of predicting ali individllal'.q functioiial connectivity fiom tlieir Structural connectivity. EIlfftott Smyth Siibje¢t.. Discovery of novel sniall mnlecules for the treattnent of human coroiiaviruses Spr)Itsoi': LifeAI'c Uiiiversity ofLeeds TIIIS piojtLt will aim to devclop novel anti-viral theripeutils to treat human cornn2viruses, addlessiiig the urgent unmet mcdical nced for current and fiitiire paiidemics. Thi'ee deadly zooiiotic cai-onavii-uses have emej'ged in the last 20-yeaLS and ro dace nu &peLific antl-VlLal dLugs Eor the ti'eatmenr OE Loronavirus infections have been developed. Enterprise Fellows Brendaii Digney i)iiip4Ny.' Machine Eye Tecliiiology IFinaiicially supported by the ERA Foundationl MaLI)ine Eye Teclinology uses conipi?teY vision, underpiiii)ed by Al algoLltliins, to acciirately sense tlie enviionnieiit arouiid the inacl)ine, and ijnderst8nd the presence of aLiy ri51cs lat the m()ment, huinansl. Being able ro give siglir to a machine in thi.% mannei. iiicrcascs accuracy) eliminating a lot of tlie ej'i'oi's and challengcs cncouiitered by traditioiial sensiiig systems sucli as i'adai. systems, which strllgLyle witli tlie vaiiabslity aiid ¢nvii'oiim¢ntal condirions oil firms uiid indiistrial sites. It means the ysteni can identify a pei'8on, determine if they are at risk, aiid take appropriate action to warn, or intervene botli tlie operator and at-risk peison. 16
Alexander Macdoiiald C017tPaiiy.' HiiidSi%litTeclinologics HindSig,lit have designed i'eai. vision cycling glas.%es which allaw competitive cyclists and urban ci)mmllters to achieve vastly improved awareness of their SULrouiidings, enabling tlicin to make betrei., saEeL' decision.% iii le88 lime and willi m()Le inEoimaiion. A sLientifiLally desigi)ed rear-view miilor is iiitegrated into a pair of $1)ecialised, stylish) professional cycling gla.sse5, via lenses which allow rearward viewiiig without impeding the u5cr's EuLwaid vision. Harish Pesala CotnP¢iiiy.' Balkerne Balkernc offers an easy-to-usc i'isli 2nd early warning sy.%tem tn property owners as an add-on serviLe to an existing insuranLe policy. platforim c2ptl1res data from over 35 differenr sources T news and social niedia, recogiiising factoi's such as chroii()Iogy? incliiding IOT) bFCO%Pati#l modelling> contcxt and gco-spat121 ielevance tn build lacation intelligence. ThL Ic¢y differentiator is that the data captured is granular, real.tiIne, and rriisted. This is achieved throiigli using machin¢ intelligence techniques such as computtr vision on satellite iinabF¢I'y artd natL)r21 language processing on news and social media fccds of trusted feeds from Incal emergency services, local autho)rities. Rcka Tron Compll17y.' Miiltus Biotcchnolosy MultLlS create rrue anitnal-free serum replacements that SUPPOLt high-pei'folmance growth aeross multiple cell lines. Witli a 8tatistically driven apprnach, Miiltus scieen thousands (Trf different comliinations OE ingLedients to find the optin1un) con)position for each step af rhe production pr()cess. Their macliine leariiiiig, based protein optkmisatioi) platform is 115ed to enhance the performance characteristics of Icey pr()teiii ingredients within their growth niedia 10 make them siiitable Eor lai'g¢ scale ciiltivated meat production. With a focii8 on the cultivated meat indu8tryJ they use vegTan, food-safe iiigredients that Lan be pruduLed at scale to meet demand. RebeLca Donaldson CoKIPany.' Bliie Tap Bliie Tap is a Social cJ]tcrprise that has designed a chlorine doser which inserts the correcr amount of chlolinc into a piped water system, making it safe to drinli according to WHO giiidelines. Th¢ sy.stem is designed specilically for commLlnlty wa¢er supplieb, and other IoLationb wl)ei'e larger vuliimes ol W2teL al'e tieated, wheLe chlorination is the most cosr-ef(eciive purifi¢atinn s()lution. Naialie Kerres Coiiipany.. SCAI.F.D SLALLD is a custom-fit protective weaiable, inspired by th¢ natui'al woild. It uses a parameti'ic algoi'itlim ro d¢sign an interlocking geometry of scales. This enLrineei'ing iiinovation allows Ilexibility in s1?ccific dii'ections, witli pi'otectioii and supi)ort in utliei's. It c2lcu12tQ8 cacli iiidividual scalc's gTeometiy tu control the structule's propei'ties. Naomi Mccregor Company.. Movetru IFinancially siipported by the ERA Foiindationl Moverru lias designed wear2ble recliiiolo¥y tliat pi'()vides tlie L]ser wirh inforiiiation to currect tlieir aligiiinent and improve Inobility between physiotherapy sessions whilc creating a lang-term medical hist()Ly with i numerical analysi5 of the user. Tom Siinpson CoiiilJa7ty'. Ratio Teclinology Ratio Technology has designed 16-speed l)icycle drivetrain. Tlie inverted teeth of these chains meet the sprockets at low contact velucities, tr3nsfcrring load over large contact Areas. As a result, rhey are quiec, efficient and higlily weal iesistant. 17
Design Fellow
Tijana Blanusa
Siibject.. Restorii)gy nature in the city
Mentor.. Dr R()ss Caineron, Univei'8lty of Slieffield
Urban hedges ai'c a sitnplc, space-savLllgJ L05t-eff¢ctive greeii intervention with the potential to
Ileviate a nuinber of local CllViLonmeiital pi'obleiiis IIOcc11ised flooding, ptsoi. ali. qualicyy exce551Ve
noise to namL just a few).
Focusing solely on the benefiis of singular plant vai'ieiies could howevei. genei-ate a hoiiiogenised
cityscape witl) neE4ltive implicacions for biodiv£r.%ity aiid pest and diseasc I'esisrance. There al'e
also pi'actical bariiers to wider uptal
Industrial Design Students Solomija Bogusz ArLliitectural Design Earthqiiake Enginecring and Infrastructurc Resilience University College London University of Bristol EL'in Carr Lui$a Charles Global Innovation Design Royal College of Art and Imperial Cnllege London Royal College of Art and Imperial College London Royal College of Art and Imperial College London Jahan Daya Global Innovllrkon Design Hemal Dias Innovation Desigyn Engineering Alasdaii. Gi'ant Global Innovation Design Royal C(Illege of Art and Imperial College London Royal College OE Art and Imperial College Loiido Daniel Hale Innovation Design Engineering Eden Harrison Innovation Design Engineering Royal College OE Art and Imperial Colle¥¢ London oyal College of Art aiid Imperial College London Samuel Jones Design Products Georgia Maclcenzie Innovation D¢5ign Engineering Royal College of Art and mperial College London Aiinie'lang Global Innovation Design Roy21 College of Art and Imperial CollegFe Loiidon 19
Special Awards Granted STEM education and outreach EDT- Virtual STEM work experience Royal Society of Chemisiry- step.s into sciencc In25cienceUK- Engineering I'esearch module National LÉ¢¢racy Tru5t- Liiikiiig litelacy ancl STEM careerg Education aiid"fi'aining boundauon- Technical tea¢hiiig' fellowships Wellington Trust- Triiture 1112Lltiinc ciigiiieers pi'oject l<ids liivent Stuff - Miiii YouTEibe mLISiLal All Pariy Parliamentary Engineering Group- Meeting Sponsorship STEM Learning- Involving fellows in pi'imary STF.M outreach Supportfoi'legacy estate Royal College of kn't-"I'l)e empathetic engineer Royal GeograpliicAI Society- Upgradiiig l Kensiiigton Gore Exhibition Road CTJltural Group-.South ICensiii8ton greeii tLail 20
Awards completed in 2021 Researcli Fellows Dr Stepheii Cox P?'oject.. Towards predicting tlic surface charge of electrolyte I solid interfaces Uiiiverstty of Cambridge InterEaces between solid5 and electrolyte solutions le.g.> salt waterl are of great Eiindaniental and technologiLal impoi'tance aci'055 a vai'iety OE fields. ExaJni)l¢s include battci'ies, fuel cells, l)iological meml)r2ne8, 2nd colloids Ic.g.> paintl. Steve's project foLused on advaiicing the latest techniques in moleculai. simii12tion to improve oui- undei'.%tlc Iiding nf solidlelecii'olytc interfaces. providiiig iiisiglit rl)at is difficult to obtain ¢xperiinentally. Steve sliowed how previously used "standard, methods give qualitativcly incarrecr results, aiid how a iiew theoLetlL21 framework caii be used to curiecrly model thcse important systems. He a15n pr(Ivided theoretical iiisiglit intu how Systems witli shoLt-Langed interaLtions respond to electric fielcls. which will l)c iniportant for the 1& pplicarion of machine learning appi.07Ches to dc4LI'ihe intermoleLiJlar interactions more aLLiiiately. Steve iiow intends to use rhe advances made diiring his Fellowship to predict the.%lli'face srructui'es of ci'ysta15 in complex environmeiits. Steve published Inany hiLh-piofile papels dui'inL his Fellowship J including a siiigle authoi cnntribution in Pi'oceed.iiigs of the National AcddEliry ofsciences and an experimental collaboration in PbysicÉ71 Ilgvieiv Lelters as cori'esponding aurhoi.. Stevc was also 2w21.ded 2020 Best Paper by an Emei'ging InvestigFator by Jou?yial of Chemicthl l)h)Isics EOL his article'macroscopic surface chai'gcs from mici'oscopic.%imulations' He 15 now a Royal Society University Research Fellow at the University OE Cambridge. Dr Paul Holloway Project.. A inicioAuidie mudel of the neui'ovasculai. unit foi. stroke reseat'ch Uitivgrsity ofOxfoYd This project aimed to develop a novel cellular mudel of the brain using'OLgaii on cliiy, tecliiiologies to provide new investigational tools for stroke research. Protecting the brain following strolle ha8 been a major tlierapeutic gFoal but despite oyei a thousand prospective ncuro-pi'otective treatments tested, none of tliese have been 2pproved for clinical use. Methuds tu test drugs in human Lells ale, liowever, exti'einely limsted and often rely on cells gi'owii IT) a flat plastic dish, which fails ro Leplicare blain fol Tn and functiun. Duriii¥ his Trellowship) Paiil set out to iise'Orga11 on Chip, techniqucs ¢0 develop a human rell culture sysrem th1t iniinics key elements of brain structure and funLtion Ifi'oni iieuronal LirLuits to brain l)Innd Ye.s%cls1 and can recreate rhe conditions of a strokL, t() provide new methods to test drugs and understand disease mechanisms. During this project, Paiil was able to develop two distinct models tliir are now being used to explore potential new therapies. One mudcl suidc5 ccllular self-255embly in a 3r) gel, to provide hraiii blo()d vessel miinics that cali be bluckcd ussng micro-clot.% tn explore the responses OF thc"neiiLO-vasciilar unit" in strol<e, wliile tlie other creates living neLironal cii'ciiits that can be used to explore how cell damagFe Lan spread between Lonnected regions of the braiii following -%ti'oke. Dlli'ing liis Fellowshipy Paul secured nver £200k OE reseai'cli Euiidiiigy became a member of tlie leadership teaiii fai. the UK Oi'gan on Chip Technology Network and T(Trpic Editor at Micromauhines, and PLiblislied liis work IEI Lab 071 Chip12019 & 20201, Cellulai. aiid Moleciilar Bioeizgineei'iiig120211 and review in Tlge J¢)tirnftl nf Neiiruscieiice RcscÉTi'cb120211. PaLiI is iiow utilisiiibT the technoltsgies developed duiiiig his Fellowship to explore a new tlierapeutic appi'nach as a post-dnc ac the University of Oxfurd in collaboiation witli the University of Catnbridge and an Oxford-based biotecli company. 21
Dr Davide Foffa
Project.. Elgin i'eptiles- the oligiiis of the Inodern terrestrial fauna
NatiO1lmeun}S Sc(Jtlaiid
Davide's resealch focused on the Triassic'Elgin Reptile, f1( una, a series af Lindei'sti?died fossils c105ely
related ti) the earliest ancestols of dinosaurs? Ptcrosaiirs, Iix2rd5, turtles ai)d crocodiliaiis. Dui'ing his
Fellowship, he adopt¢d a digital apploach lusiiig coinputed toinogyraphy (cri daial to circumvLnt
desti'uctive pi'eparatiun of th¢ speciineiis and reveal never-bcfoi'e-seen det2il8 of thc skelcrons of thtte
animals. Davide created accuyate diEital reconstrucrions of these fossils wliich he used to study clues
abolit theii. in-life b¢haviour aiid tlieii pusitioiis iii the reprile fainily tree. The LesL]Irs wei'e i)ivutal
to conti'ibutingtr to shcdding lighr on long-standiiib questions in palaeontology le.g.) the oi'igins of
ptci'asaLlI'S and tlie anatomy? hiology and re12tionsliip8 of Sclerotnochlus aiid Erpctosucliusl. Results
of his J'c.Icarcli were piiblished aiid Jnole will be iii due course.
This approach ultimately showed that the richness of the Elgiii deposits may be greater than
previoiisly thought. bor this Leastjn, tliis project will sulvive the end ()f the Fellowship.. Dnproccs.%ed
data will provide matcrials for trainiiig students and siipei'vision experience for Davide's futiire
cai'eer. A series of projects on the Ilerii)ian'Elgin ReptRles' has beeii started. Fii)allyy the concluding
outi'eacli ploject will piovide lieely available lealning matei'ials and activities for sch()ols worldwide.
Followii)x the Fellow.%liipJ Davide has be) awarded a Amalie SkludowslL#-CuLie- Lndividual
Fellowsliip- Global Fellowsliip tu research the ecalngical cffccts of rhe Permian-Tria%sic mass
extinctioii on terlestrial ecosystems. This post, wliich ster]iined From fruitfiil collaboLations duriiig
his prtsject, will bc based ar tlie UniverSLty of Birmingl)21n witli two yeals as a visitinLF researLher at
ViLgiiii2 Tech IUSAI.
Di. Jakc Ile5-Smith
Projecl.. Quantum contiol throub'h phoronic eiigineeriiig
Uiiiveistty ofsbeffieldajid Uiiiveystty ofmanchester
Describing light-iiiattci. intelactions in sulid-stat¢ Sy5teins is a key baiiiei tu developing photonic
qiiai)tiim technologies. Sti'oiig iiitelactions hetween th¢ electronic deglees of fj'eedom of a solid-
state einitter IS.SEI 2nd the vihrational niodes of its liost inatei'ial, Icad to complex Llynamical
and optical properties, and tyPlLally degLade an eniitter's perfoi'manc¢ as a quantum technnlogy.
Standai'd theoi'etical Inethods in quantuin 01)tlC5 a5suille an emirrer is nnly weakly intlueiiced by its
environment 2nd thiis may be rreated as a pertLILbation- a treatnieiit that rapidly bi'eaks down when
Used to describe SSEs.. Tliereforc, in order for SSES ro Leach their putential as a quantL]m technologyj
it is ci'ucial that we have 2 versatile formalism capal)le of capturing emittcr-environment interactions
in the strong coupling regime.
Dui'ing his fellowship, Jalie developed techniques ra desci'ibe the Cniissinn properties of SSE valid
in i'cgimes intiactable to staiid
Di PaLII l<nolt Pyoject.. Employing Lomputer algorithtns to automate the engineering of qllantum States UJi1ve1ty ofNottingbam A requirement uf any expei'iment involving quantum mechanics is that the quantuni state of the system is engineered li.e. desigTned, prepai'ed and manipLJlatcdl wsth extreme pi'ecisioii and control. Biit the counter-intuitive naturc ()f the quantiim world, whilst eiiabling disi'uptive new te¢hnnlogies, also malces it paLticularly challenging to design quantum experimenis tliat can engineer useful stat¢5 oiir usual intuitioi)s can fail us heie. lo oveLcume this, l)aul pioneercd an aiitomated tec11niqiie, the quantum srate engineering algorithm, which in essencL u.ses compiitei. Ic Igioritliiiis to desigii qiiaiitum experiments. Thig technique- which iitilises methods from l)oth genetic algorithm£ and machin¢ learning- found niimerous soliitions th1< t sui'pass tlie previous results in the literature whilst involving surprising expeiiinenral ari'angement5 quite different frc)tn the hun]an desiLFns. Durin&r the latter half of the Fellowship) Paul's fiitllre plans fnr the project became more ambitious. He now p12ns to develoi) an intelligent virtual laboratOl'y> which will contaiii at its core a learning agent that learns frotn expeLience, utilise8 powerfiil scareh algoritliiiis, can be trained by hiiinan experts, and can respui)d to liuinan inter2Ctioii and fcedliaclc in real iimt, ensuring the outi)ut satisfies tlie specific I'equirement.s of rlic u%ei. This will l)ave appliLatiuns from quantiim-enl)anced preci.sion metrology 2nd qiiantum cnmputing to quantum simulation and fundamental experimental tesrs. To dLvelop the iiiachin¢-leainiiig expertise to enable him ro complete this ainbitious pi'njecr, diiring hi8 Fellow.%hip Paul warlied as a Visiiiiig Scliolai at tlie wurld_leadiiig Bei.Iceley Aitifici21 Intclligence Reseai'ch Lab. This expcricnce gave him expertise in deep reinforcement learning aiid resulted iii a publication on evaluating and improving the robustness of collahorative deep reinforcement learning agentq. Paul is now at the Lentre oil Long Term Rislc where he researches the long-tcrm risks Associated with ai'tificial intelligence. Dr Emilio Martinez-Paneda Pi'oject.. Mici'oinechinical mndelling nf Lock fi'aciule: towai'ds enei'ky-efficienc tnining UKivetsity of Cainljridge and INiperi41 CollegeLondon Emilio'8 Fellowship aimed at developing a new gencratiun uf physically based Inodels for rock fi'actilLe to optimise energy-intense niining and construction techno)luuries. Emilio worked on shedding new light into our understaiiding of Lock fracriire and also developed new l)io-in.%pired techniqucg t(Tr m2nufactiire rock-lilce materials with unique mechanical properties. He also worked on developing new mathematical methods that enal)led simLilariiig the nuLleation aiid growth of multiple clacks foi. (lie fiLSt tiine. Tliis allowed Iiiiii ti) present pione¢i'iiiK mndel.8 not only foi. I'i)ck fractiire. but also foi. pi'edicting rl)e failure OE einbrittled metals, advaTrc¥d compositcs, and smart materials, as well as opening a new path far computational mo)delling of corrosiun. Several of tliese Eundatnent21 moclels ale now beiiibT used by ilidustry to condiict "Virtual Testing" in applications and sectors whete computei. simulatinns liad not been employed previously. The Fellowship also provided a remarlcable boiugt to Emilio's acadcniic career. He went fi'oiii being a postdactoral rese1< rch fellnw ar the University nf CanibridgTe120181 to a LecriireL120191 and Senior Lectui'eL120211 at liiipeLial College London. By the end of Ilie Fellowship J Emilio led a ¥i'i)up of five postdo¢tc)ral researcliei's and seveii l)IID stLidents tacklinLF iiiechanics of 111¢1terials challenges that <irc tlie key to Linderstanding pliy%ic.?I pheiioiiieiia SULI) as corrosioii OL iccb¢LLF calviiig and al'e at the core of techiiologies sucli as Li-lon battei'ies, offshore wind energyy and hydrogen storage. Lmilio lias Lecently been awai'ded an UKRI Futule Leaders Fellowship) whicli will support hiin and liis team fol seven year5 to contiiiue tackling exciting material degradation challenges at the interface between mechanics and cheinisti'y. 23
Dr Iconstantinos Meich2netzidib Pi'oject.. Simulating compDsitional Iirocesses with tensor networks Uiiiversity of Oxford Kanstantinos Inaint2ins that bei1lBT awat.ded rhe Fellowship has beeii one i)f the most sigiiificant events, not only for his 2cadcniic career but a160 foi. his pei'sonal development. Having the Fellowsliip Iiosted by the Departiiient of Computer Science at Oxford Univer51ty with a tlirec-year research hoi'izon provided him with the pricelc55 npporciinity to independeiitly and deeply thiiik al)oiit hi8 research interests while l)cing siirrounded by a variety of iiiteresting and gifted researchers. .Siicli bLeathi1lbT 5pacc alluwed him to Lollaborate widLly and connect 8eemingly disiiaratc fields of study fioii) formal gi'apliical languages and cnmplcxity theoi'y to quantuin coinputiiigi aiid aitificial intelligtnce. Folluwiiig the Fellowshipy he is joining a key player in the quantum computiiig iiidustry, Canibi'idge Quantum, as a Senior Research Scientist, wliere he will be part vf a diverse and inrerdisciplinary team eiivisiuniiiE applicacions of quancum compiiterq ta ai'iificial intelligencc. Dr Zahid Padamsey Pi'oject.. Speed ur precisioii> Dynamics uf information flnw in tlie hrain Uxiveisity ofEdinburgh Information processing ii) the braiii is enei'getically expciisive. liideed, tlie braiii Lonsutnes approximately 20 % of oiii. c21orie intakc despite Lomprisiiigi oiily 2 /4) (>f our bodyweight. Miich of thi5 cnclgy is spent on fuelliiigy the rapid and precise ti'ansmi55i0n of inlormatinn between n¢ui'oiis. Given the pi'ohibitive costs of neuronal cofflmiinication how niight iiiforniatioii transmission change if caloric intake is reduced) One Iiypothe5iS IS that the speed andlor precision of infoi'mation tra11smi55ioi) would decrease in ordei. ro save enei'gy. Dui'ing his Fellowshipj Zal)id exploi'ed how inforination processiiig in the brain is impacted by a reduction in food inlake in laboratoi'y niicc. He recoi'ded neui'onal activity in a region of the mouse bi'ain re8ponsible For vision. Wlien food iiitalce was ieduccd by 30 % he disLuvered tliat the pi'ecision with which neuroiis ti'an51nitred ii)formaciun was rediiced. In effect, neuron8 wcrc no longrei. transtniciing precise detail,% nf Ihe. visual woi.Id, Inaking it mol'e dEFficiilt Foi. miLe tu See Llearly. However, whilst Iieurons were less apt at irai)sinitting inforniatioii, £aliid found that they were also u5iiig 30,1. less enti'Ly."fhese finiliTigs al'e the first co estahli.%h chai Ihe pi'ecisinn of infnrmation transmission is ieduced in the tnammalixn brain t() savc energy when food availability is liinired. This work has impoi'tant implic2tlOll5 foL understandinb how diet iiiipacts cognition in humans. Following his Fellowshipi Zahid has been awarded a research grant by the Biotechnology and Biological Sciences Research CoLlnciI IUKI to contiiiue his line of wolk at the University of Ediiiburgli. He is now lookingF at tlie underlying molecular and gei)etic niechanisms that control how much energy neurons spend on information Plocesging. 24
Dr Matthew Pusey Pi'nject.. Notions uf non-classicality a5 sources of qliantiim advantages University of Oxfvyd Qiiaiitum compiitati()n and quantum cryprography aim to exploit tlie unique featui'es of quantum mechanics tu achieve fastei. speeds and better security than is poqsihle witli current technology. But exactly which quantLim features aLe rcspiinsible for cach qiiantiim advantag¢ can be surprisingly difficult to pin dnwn. A piomising api)I'()ach to tliese questiuns is via iigFOLÉ)US Ilotiuns of iioii- classicality? the most important of which al'e quantum contextliality and quantum nonlocality. Because the%e notions providc a precise cliai'actei'izatioi) OE wliat makes qii.?ntum mechanics unusual, thcy offer the possibility to identify exactly what powers quaiituffl adv211rages in cotnputarkon and cryptugraphy. Matthew developed tlie theory ()f quantiim contextuality, with a particular focus on makiJ)g demL)nstrations of it more robiist to various experimental impei'fectinn%..Since 211 expei'iments arc imperfect, such rubu.4tness is iinpoltant for doiiig coiiviiicinE Foundational expei'iinents. This robiistness is al.%a import2nt for any cryptographic application4 wheie sucli iiiiperfcctions could lead to security loopholes, and to ii)ake solid connections Wlth quantLim compiitati()n w115ch always has to contend wirh noise. In particular Martliew ensured the robustness of tlie connections bctwcen coiitextiiality and another useful form of non-classicality known as "an()maloiis weak values" Matthew also worked on a structure theorem that malces it easier to identify and study contextiiality by c0115idcring transformations alongside preparations aiid measLJrements. Most rccently) he applied this the(Trrem ro give a full chaiacterization of the contextiiality of the "stabilizer subtheory", which plays 2 key role in quantum cnmpuratioii. Thi5 characterization provide5 a very direct link between contexcuality and certain forms of quantum computation. Mattlicw is now a l£cturer in Quantllm Informarion in the deparrinent of Matheniatics at the UniversSty of Yolk. His i'esei£ I'cli is still in broadly the same areas: connections between quantum information and quantum Eound.Itions. 25
Industrial Fellows Jasmine Bone Project.. Diirability assessmeiit and lifetime prediction of pulymer coinpo8ites Linder harsh marine envii'ojimeiirs Spoiisoi.: National Physical Laboratory Univeisity ofsuney Jismine's research project focussed oil tlie effects of accelerated agieing and moisrlire ah501'pcion in polyiner composite matei'ials.'fhese materials are incre2siiigly being llsed iii marine aiid vffsliore eiiviionments where it is essciitial to understajid tlic effects Df the eiivironmeiit oli degradatiun and Inarcrial peifoi-manie oveL tiiiie.'I'he aiiii OE thi5 research w2.% t() Use metliods of acccler2ted IgFeiJig liiicreased severiry test cnnditionsl to correlate the absorption ofwatei in tlic coinposites to rediictions in matei'ial properties such as strength and stiffEIcss. Over the coui'se of the ellOW51p> Jasmine developed cest methods to accelerate moisture llptake in the materials and vai'y exposLar¢ conditions with teinperatL]re, pressure and applied mecliani¢al load. Different techiiique5 were used tu characteri£e the degradation occurriiig 2nd diffusioi) modelliiig used to 2881st (he undei'standsng. This work provided the f(Trundatioii Eor a capability to test ai)d uiidei'stand the degi'adation of coiiiposite ii)2teri215 due ro moistuie upcake and ideJ]iified a Lelatioiiship betweeii rhe deglee ol warer absui'ption and its location in the material to the debiradation of material properties. After conipletion ol the EiigD, Jasmine was eniployed full time by NPL iE] ordcr to investigate the validity of the test woi'k to industrial case study materials. Jasiiiiiie 15 now a Research Fellow at the joint AWE and University of Sull'ey CeiTrtr¢ of Excellenc¢ in Materials Ageing, Pei'formance and Life Prediction. Laui'eiice Devesse Project.. Investigation into the ii.%e of massively paLallel sequeiicing in Eorensic genomics Spoiisoi.: Verogen Kijig's College J.oiido Laurence's project was born out of a Knowledge Tiansf¢r Partnership between Velogen Itlie foi'eiisic genetics gi'oiip at Illiiiniiia at the rime of the award) and Iciiig's CollegFe London. As a new companyy Veiogen benefirted fioiii tlie support of the forentsic genetics conimunity) and the parcnership with Iciiig's Forensics helped est1¢ blish the Verngen mi.seq FGX technology as a gold standard for niassively parallel SCqLiencing in forensic DNA typinL. Laurence's researoh ha5 proven that this teclii)ology is fully coiicordiiit with what fui'ensic labnr2toi.ics have l)een doing foi. the past 20 years and can be applied to forensic c2se8 previously too complex to solve with les5 informative techniques. The resultS.Ind databases made available tIiEough iiiulriple publi¢ations during the Fcllowsliip have faLilitatcd upcalce aiid impleinentarion of rlie N4iSeq FGX in laboi'atorie5 world-wide, and ali'eady form pai't of the "Vei'ogen story" l.aurcnce's academic output is o(teii utilised by che coiiipany, and hel knowledge of tlie processes she applied aiid developed during lier Fellnwship is shared with Vei'ogcii custoineis on a r¢&Fular basis. Laui'eiice i'emaiiis a field application scicntist witli Verogeii, 26
Mariagtefania De Vido Project.. Advanced gain materi21s for high energy) high aveL2ge power laser systems spus0r.. s1-1c Ruthei.ford Appletnn Labnratory Hei'iot-watt Univers£ty Stefania'5 Fellowship focusscd un advancing DiPOLE, a world-leading high cnergy> high repetition r2te i)annsccoiid diodc-pumped 801id stare laser amplifier ai'chitectuie developed at the C,enti'al LaseL Facility ICLTrly part of tlie STFC RLirherfi)rd Appleron I,ab()ratory. She conducted wide-ianging experimental and numerical studie5 to address performance issiies in existing systems and to opeii up routes ro future increases in puls¢ energy and average power. Activirics cai'i'ied out duiiiibT tlie Fellowsliip liave yielded three fiist-author papci's Iwith three more papers in preparation) and nne patent application. .Stef2nia's contriblltion has allowed DIPOLE to reinain a recoid holder in seyei'al categories, such 2S OUCPUt enei'Ey? averAge powci. and sysrem elfiLiLnLy and facilirated the Loininissioiiiiig OE a new DIPOLE system for tlie European Prce Electron LAser IX-FF.Ll in Hambui'g IGLrmanyl. Tlii5 allowed C.LF to remain at the Eoiefronc in the hibh eiieigy liiAI) Lepetitioii l.ate laqei. field. Dil)OLE technology lias been chosen to be at tlic heart ol a new UK facility, the Extreme Photnnics Applications C.enti'e IF.PAC"I, an £82n] research centre currently under developinciit at the CLF wliich will focus on the develnpment and application of novel, laser-based accelerators and particle %aurces fur seiisiiib'y medic21 and security applications. Stcfania's research will contribute in mal<ing DIPOLE fir foi. purpose in ieriiis of cnerby, efficieiicy and Leliability pei'foliiiance. Siefania's work allowed tlic developmeiit of next geiieration DIPOLF. systems oper2ting at 100 Hz repetition rate, 10 time5 the repetition rate of curi'ent Dil)OLE lasei's. Commissioniiig of a DiPOLE 100 Hz laser will opeii lip ncw avcnues in industi'ial 2pplication.s of high eiiergyy hi¥h repetition rate lasers and ID#y be the fiisc slep towards tlie developinent of new hi%h J'ei)etition i'atc facilities and rhc upgrade of existing ones. Stefania continues to woik at tlie CLF on thc development of DIPOLE teclinology and on thc development and cnmmissioning of EPAC. Christopher Magazzeni P?oject.. Ultrasonic tcsting For jet engines Spunsoi.: Kolls-Royce plc Uiiiveysity ofoxford Aviarion has bcc()me safer and more effiLient, with evely iteration of high-perfoi'miiig j¢t ¢nginc coiitributiiig to this change. A Inajor source of improvement ha8 come flom a chanbFe in the way we manufaLture rhe precisc coniponents in tlie engitje.. fi'oin shaping and cutting uniform bloclcs to fi'iction-welding (Ir 3D printing coiiiplex shapes. These new tools enable an enoi'mous range of designs wirli significant pei'foi'mance benefits, fLom I'educing tlie numbtr i)f individual parts needed to biu-mimetic geometries. However, tliese ii¢w tools also completely chaiige the material striicturc, often at a micro-scale. In ordei. to undeLStand tliis, Iiew tools for studyingF and qiialifyiiig these matei'ials at a Similar scale are needed.. liaving i'efiiied our focus iii tlie material witli smallel and smaller featuies, we siinilarly n¢ed to downscale uiir testing Inctliods. Cliristopher's projecc delivered two novel methods to answer questions on material b¢havioui' of these parts.'fhe inethods- applicable co any material, rich in data, and fa%t- have been developed on the case study of <1 friction weld in Rolls Royce plc jet engines. Exploring the weld-line, a region with hislier sti'ength, 211owcd for undei'8t.Inding the nii< terial l)ehavinur of eacli iiidividual liiik in the ¢haiii instead i)F jusc findsng tlie weakest one. Ily caiiiliinin£ new testing machincs with £2dvanced d2t2 analytics, these Fn¢thads will cur down on the devel¢Jpiiient cyclc for the i)ew IantIf2CtI.lI1g methods. The tnols liave l)een sh1< red with the scientific community 42LI'I)SS the disciplines of aerospace) bFcology. 2nd plastics, and liave been incori)orated in Rolls Royce's toolbox. CIILiStopher is now a Research Fellow with the European Space Ag¥ii¢y. 27
Shaun Mansfield Prr)jg¢t.. Manufacturing p¥ocess for clii)ically relevant COLd blood haematopoietic stem cells Spoiisor.. Biuvaiilt'fechnical University Cnllege Londoii Utnbilical cold blood IUC.Bl is a source of haematopoietic stem and progenitoi. cells IHSPCI that have a i)i.-ovcn clinical track i'ecoi.d foi. che ti'eatmeiit OF ovei 80 cuiidirioi)s. Huwevei., Ilie finite number of cells witl)in 01)e utiit, whicli limits the overall cellular d()5c available, ultimately limits its porenrial as a thei'ai)curic, resrlicting the usc of UC,B to childi'en and adolescents or iequiLiiig multiple units be ti'ansplanted iii adults. To ovei'come tlii5, expaiisioii strategies tL) increase rhe nverall nL]mbei' of HSI)Cs have been adopted. These strategie.% larbFcly focus on the u8c of supplementation to pram()tL proliferation whilst liiniting differentiarion. However, they Lely on dated tccliiiologies, which are majiual, laborious, iiicongi5tent ai)d lack the ability to scale. For these expansion tcchnologies to LeAlise thcsr Eiill potential, m2nufactui.ing strategies ale required that in)prove sca12bility aiid coiisister)cy whilst LeducingF overall cost aiid manual processing steps. The iiiain aiFn of Shaun's pi-njeLt W1( S to investigate the use of a hioreacror systeni foi. tlie expaiision of HSPCq, which cali address many of tliesc challcnges. Within tlie project it was demoiistrated that agitating HSPC cultUL¢S iinproved rlie overall yield of cells, cell viahility and their potency compared t() a staiic c(Inii-ol. In.Idditi(In, spccific process p2ran)cret's wei'e investigated, the dissnlved oxygen coiiccntration, cell seeding density and cultui'e niedia pH. liivesti%atiiig tlie desiLFii space foi. rhese parameteLS liigl)liglited oprinial operativnal pai'aineteis, which whcn applied to multiple donors, ¥esulrecl in & fuLther sibFnificc1nt impi'nvement in final cell yield, vial)ility> and potency) whilst also decreasing the time required for manufacturiiig. Biovault will be able to iitili.%e the output from the research as a tool to secure more custome15 for tlieir Umbilical Cord Blood stOl'<ig¢ service as well as neiv overseas paLtI)eLs. In addition, the reseai'LI) can be used to promote futL]re ¢oTrllabL)i'a(ioiis between Binvaiilt, academic instiiiitions and othei. industry paitners, building Lipon the outputs froill this project either ii)teLnally or witli Eiiture callaborations. Shaun is noiv woi'king as a Research Scicntist at OLI Biotech. 28
Mrtrta Ferran Marqués Project.. Luminesceiit Cofltings for ultraliigh temperature measllrernents Sp01750r.. Seiisol Coating System.% Cyanfield Uiiiversity Temper1[Ure is orte of the Inost CLitical propertie5 (Trf thermal systems in power geneyation and aeiosi)acc. The exri-eme inlei temperaiules influence rhe eEficieiicy? Leliabi5ity> aiid lifetime of an eiiBiiie systeill. This demands acciirate data concerning tlic thei'mal load on components. Cuircnt temperature sensors exhibit sonic lifflitations. Therm()coiiples and rherinal crystals only provide p()int measui'cineiits malcing ir difficult to reveal temperatui'e gi'adieiits. Pyi'ometers i'cquire optical acccss alid c2n be influcnccd by emissivity clian%e8. Tl)ermal paint.% delsvei. SL]rface cov¢rabie, but tliey alsn present some challenges such a5 toxic chemicals) poor re501ut50n, wide remperatui'e data gaps, and poor du¥ability. To overcoTne %ame OE tliese Lhallenges, Sensor Coating Systems ISCSI has developed Thermal Histoi'y Coating ITHCI r¢chnology, able to niea.%Lire temperatULe Plofiles in the 900- 1600°C Lange post-uperacioii. I'HCS are phosphor tIi¢Linometers qynthcsised via co- precipitation mcthods and deposited tu f()rm a coating via Aim05pheiic Plasnia Splay IAPSI--fhis new offline tempetAtui'e profiling tcchniqile use.s optically active ions in a ceramic li()st iiiarei'ial tliat phosphc)Lesce viice excited by liglit. AFteL bcin£ exposed to l)igh tcmper£?tures the host matci'ial irrevei'sibly changes at the atomic level affclt1n6 the phosphoresccn¢e properties which arc then Ee12ted to tempei'atiire tliroligh calibratson. The technique records the past maximum exposure temperature so that it can be determined on¢e the component lias 211.eady cooled down. The d2t2 obtained durijig Marta's Fellowship has helped develop a more robust and reliable'l'HC system Eor che 900 to 1600 °C tempelaturc range. Firstly> a Study on how the spray deposition pai'ametei's influence tl)e microsii'ucture, and rlills rlie lumiiiescenLe of tlie matei'ial, was carried out. Tlie optiinised and selected spray paramcrers are now used foi. all indlisrrial piojects at SCS. Secondly, several Jiiateria15 characterisation techniqiies, Slich as, X-ray dÈffraction, Raman specrro.scopy and optical 8pecti'a, were used tv reveal the diFFereiir phase chanLFe5 undelgone by the THC material when exposed to high temperaturesj providing a ncw calibi'atinn method. An iii-depth haracterisation OE tlie decay kiiietics undergone by the niaterial was eaLried oiit> providing a better iinderstanding of the uiiderlying physics of the tllaterial. Lastly> engine and lab exposed samples were cuinpaLed for tlie fii'st tijiie, L'evealiiig diffeLences ar tlie JlllCLOStructure level and providing valuable results to SCS. The findiiigs throughout Mal'ta's Fellowsliip will nor only benefii design engineeLS in rheii. l'ace co achieve11igheL firing ieinpei'atULes but will also help SCS in growiiig as a company and broaden its temperaturc range capahilities. Marta continucs to work at SCS. 29
F.lsa Noaks
Pi'oject.. An upstream manufacturing step to remove contaminating cell rype.8 from T-cells Eor
itnmune oncology
Sponsor.. Aiitaliis
University College London
ChimeLiC aiitigen receptor ICARI T-cell processingF is a rapidly developing c8ncer tlierapy that Can
offer treatnient for patients whcre ti'aditional thei'apies have failed. Conceriis ieg2rdiiib liost rejeLtion
have re8lllted in tlie majority OE CAR"I"_ccll theiapies using a patient's owii cells, collected throiigh a
process called leukapheresis, and SLI manufaLfuring succe.%s is inextricably linked to starting illatcrial
composition and quality.
Es'tablisliing the relationship between dnnor tnaterial comi)ositi()n and the siiccess of CAR T
proce48inbF Stages is ci'itical. Thc aijiliry ro predict how patieiit niateiial will beliave Ero)In ils
compositioii would allow manufactui'ei's to adapt theii. processes, helpin¥ to prevent production
of ali ineffeLtiYe product or failure to mcet dosage. Reduciiig the chances of pj'ocessing failure is
e5pccially important for CAR T-cell tlierapie5, as tlieir application is alniost exclusively in refraLrory
cancci patiei)ts wlio r]iay not be able to wait for additioiial maniifaLturing cycles. Elsa's work foiind
hat depletion of specific cell gr()ups froni donoi. cells Could significantly enhance the pei'foi'jiiance of
key CAR T-cell production maiiufacttRring sreps.
Altliough widely implemtntcd, replacing leulcapheresis with an 21tei'native startiii&F niaterial Could be
beneficial. Tlie simplicity of bload collecrion m21ces it clieapei aiid nioi'e widely accesgil)le ro patients,
which coiild be vital for those who iiiay be too iinwell tu travel long distances to a specialist centre
oi. undei'go the pi'uccdure. Howevei., much like leL]kapheresis, wliite blood cells IWiJCI froiii whtjle
blood also contain disruptsvc cell popiilatlolls, sucli as moiiDLytes, as well as a highLI' level of red
blood cells. To examii)e tlic porencial of using whole blood cc)Ilections, Elsa's Ploject reviewcd how
the CAR T-cell process cycle wa
ffected by changing the WBC collection niethod.
Elsa has now talcen up a position at Autulus as a Research Scientist.
Alex O'Ncill
I'rojEcÈ.. I)i'ediciiiig ryre behavioul on different road surface
Spoiisor.. Jaguar l.and Rover
Universtty of Surrey
Alcx's work has pi'ovided a solutioii to a long-standing> indllstry-wide problem that will directly
bentfii jaguar Land Ruver ULRI liy improving its tyre madelling Lapal)ilities. JLR aims to undertalce
2.significaiit amount (If its iiew vehicle developiment vii'tually. By usiiig full_vehiile 5imul&tions
to refin£ products as inuLlI as possible, the considei'able costs l< ssociated with building expeii.%ive
physical prototype5 can be rediiced suh%tantially. The quality of siinulations rests on the quality OE
the constitiient niodels. C.ui'rently• tyre models aftcIi represent cli'iviiig oli saiidpaper. dimiiiisliiiig
COl-LelAtioii witli pliysical tests coiiduLted on asplialt and reducinLy th¢ ¢fficacy of rl)e virtual
enbFineeriiig process.
Alex's WOLIC has successfully developed a process where tyre models can be reliably transferred fi'om
oiie surface tc) ano)thcr le.g.) frotn sandpaper tn asphalt). To da so, the coniplcx friction21 &iitei'action
that ncciii's between tyre riibber aiid diflereiit surfaLes was captuled expeiinientally. Tlieii, the
obtained fi'ictioi)al cl)ar2Cteristics were used as an input tn a tyr¢ model. Resiilt8 showed that
¢hanginiT the fricrional chaLacteristic8 in the tnodcl mirrored the ch2nges scci) in me2siirtd tyi'e folces
on the diffei'ent sui.fac¢s. I,-iiiidaIi)eiitally? the results sliow tlie iiiipoitance of capturing the f¥iLtiunal
beliaviour OE the i'ubbei..
Going forward, expelimental tyre data obtaincd on sandpapeL can now be'5caled' to that of asphalt,
in a reli2ble aiid physically mel< niiigful way. CJ()ll5Lquentlyy JLR'S tyre models are more representativc
of reality, 2nd, thus, the compai)y's virtual engii)eerins c2pability is impioved. Tliis allows more work
to be doiie 011 tlie 'vii'tLial' cai. and speeds up tlie process of brin¥iiibF iiew produLts to Jnarl
AlexaDdre RAymond Pi-nject.. Equipping autoiioinoL)s surface vehicles With intelligent interaction cApabilitie8 Spoffsoi.: L3Hai'J'is ASV Ujiiversity ojCaNibridge Durin& his Fellowship? Alex conducted a deep investigation into the open challenge.% of explaining t11e hehavi()ur of 2lltonomou5 vehicles. His research set5 Out a new paradigm of developing autonotnous vehicles that are 'cxplain2ble by de5i¥n. These vehicles of tlie future can rea50n about rheir Lurrent state and justify their intention5 t(Tr operatOLS and other vehicles alilce (manned oi. unmanned). As a re.%ult, he hopes to increase trust and speed up tlic regulatoiy liurdlcs in the indispeiisablc adoption of this tecliiiology. Mol'e specific211y, Alex exrended Ihe cancept of explaiiations not oiily for human5, but foi othei. robots well. He provided concrete answers ti) reprcsentative quesrion5 Such as.. hnw to explain intent accordingy tu tlie Lules of tlie sea? How to optiinise explanations alid Jninimise potcnrial conflicts of interest between vehiclcs> Cin those explanations be used to inipiove rhe pci.foiinaiice of Al algoritlims! For L3Harris ASV, Alex's work represeiits a competitive advantage in (he form of & Llear roadmap for d¢signÈn¥ technology th2t not only complies to regulations but Cl£ n also exhibit awareness by cxi)licitly reasoningy about existinbF noLJllS. The filst player iji tli£ in2rlcet whu can deinojisti'ate t112t their vehicles can cnexist with humans will lead the way with the technology. Following tlie Fellowsliip) Alex h(Ipes to take on a technoloby leadersliip position in the autonomy domain at L3Harris ASV. Jnnaihan Vince Project.. Using ultrasound to enhance targeted radiotherapy Sponsoi.: B"fG Biocompatibles l Boston Scientific UniuElStty of Oxfvrd Jonathan's Fellowship has supported tlie developmenr uf a new n]ethod fur dcliv¢LinbF taigtreted radiotherapy to canccj. patients using ultrasound and microbubhlcs. Tlie technology has been specifiLally expl()Led in tlie context i)f bi'ain tumour ti'eaiment Igliol)lastoina multiformel, l)ut also ha8 thc potential to treat nther solid tL]mours with poor vascular access. The iise of ultrasound iiiduLed Lavitation of coinmercially 2pproYed microbiibble contr2St agents, drastically extends th¢ potcntial of selective internal radiarioii therapy ISIRTI as a modality For tleatment of vai'iou5 caiicers. It enables radioactive microsphereg t(Tr he delivered into various tissues whiLh do not have existing vasLularui'e fol iiitra-artei'ial miCilKathetei' delivery and offels a iiew and cxcsting way tn distribute selective internal radiotl)erai)y within the body. The discoverie5 made possible by the Pellowship Inay pave the way to an improved standard of care for gliohlastoma n)ultiforme and transfortn tlie lives OE patients suffering from this highly aggressive foi'ni of cancer. A patent has Iieen SLibmitted between Oxfoi-d Univei-51ty Innovations and Boston Sciencific with respeLt to the lindings of this i'esearcli and their coiniiiei'Lially avail.ilile radioaiiive pi'i)duct Thei'a.SphereO. It is hoped that this new technr)logy platform will improve the cxisting treatment OE curreiitly approved canc¢r iiidiLations 211d enable tl)e usc of radioactive micrnspheres for other indicatiuns. Two acidemic paper siibniissions are LULrently beingi written llp su1111111rising the findinss and development of ulcrasound iiiediated deliveiy ()f radioembolic mici'ospheres. Jonathan is now a Pi-ojecr Mcinager at Airfinsty. 31
Fergus Watson Pi'nject.. Tlie prevalence And relevance of h05Pital biofilms and their inactivation by H202 vapour teclinDIoLy Sponsor.. Bioquell Ulc Untversity ofsoiithanipton The aim of Fergus's Fellowship was to expand upon our understaiiding of tlie n)ici'obiome on dry surfaces within & hospital eiiviLoiinieiit and utilise thi5 tu inodel the mici'obial challenge foi. in vitro efficacy testiiigy OE c()mmi)n disinfcccanc8. Environiiiental surlaces play a key role in the ti'ansmissinn of hospital-acqLiired infectinn% IHAlsl and are bclicvcd to act as 2 I'egervoii. to HAI-associated pathoseiis. Fei'gus's analys5 uf tlic cliiiical eiivironinent was able to support tlie liinited literatui'e for the piesence of biofilin containi11ation on dry sui'faces. Moi'eover, froni Iiis data he ha.s hccn 1c niongst the first tn dcfine the ti'ue levels of microbiome on dry surface.% using microbiologic ciiltui'e tccliiiiques. He fouiid the surface bioburden for hand-touch sites in patient wards wa5 10,OOOx higher tlian the curreiit limits for cleanliiiess 15 CbU/ctn21- Furtliern]ore, by categ()ri%iiig his dataset into diffei'cnt types of Sillfaces lie lias l)ccJi able ro show which surfaces pose a gi'eatei. i'isk to patlcllts than others. Clinical equipmeiit Lan often be missed dui'ing routine1105Pltal cleaning yet was seeii to liarbour more clinically relevant pathogen% such as AcinetobaLter spp. whilst Surfaces in closer pi-aximiry ti) the patient le.g. hed rails, tables etcl were mai'c liuiidant in environmental fl(Jra whicl) are argual)ly less liai'in(ul yet.Ii'e Inoi'e frequently cleaned. From rhis work Fergus has dcvcloped a novel in vitLO iiiodel fol emulating hospital microbiomes. 'liei'¢ is a distiiict laLk of uiidei'staiidiiigF of liuw biofilms gl'ow oil di'y SL]rfaces aiid F¢rgu.g1)n.stulates that patient bodily fluids ti'.ii)smitted througli rouch, such 2% sweat, <2l'e key coiitributOLS. TIiei'efoi'e, he developed hi% n)odcl ¢0 emulate tlie foi'inatioii of dly sulface biofilins via coiiracr between a patielir's 'liaiid' aiid cliiiical sui'faces sllppleineiited with a unique ai'tificial swcat gi'owrli media. Tlie resulranr biofilms have hceii used for dowiistleam effieacy testiiig of coininon disiiifectaiit5 aiid will prnvide Yaluable information for clinicians when choosinb Infection l)revention and Control IIPCI measures. The information obtaiiicd during Fergus's Fellowship will be used to advance Bioqii¢ll's position within the heulthcare industry aiid Plovide a comprehensive hygiene solution witli multifaccted approaches to hioburden control. The tecliniques devised sl)ould enahle Bioquell's clieiits tu tailor theii. IPC approach to unique situations vr facilities. Fallawing the Fellowship? Fergus has Inoved into a leadei'sliip role within the supply cliain IpiodLlCtionl divi5itJn of Bioquell. He contiiiues to provide input to un-groiiig development work on Bioquell's biological pi'adL]Ct%. He is als0 loolcing ac ai'eas within the global i)arent company* Ecolab, where Iiis research and expertise c2n be utiliscd. 32
Indusirial Design Students Alex Dallman-Poi'ter Coui'se.. Innovatioii De5isiI Engineering Royal College ofArt/IniPerial College Londoii During his second year of IDE, Alex coiiipleted 2 group project with three peers, and a solo project. Tlie foi'nier W<iS cnncerned wiih rhe littlL known l)ut sigFnifi¢ant enviroiiineiital issues of ilothe5 washing? which uses large volumes of fl'esh water, require.% high energy input f()r heating and diying, and is overlcill for how dirty most Llothes ale, wliicli i'esi)Its in tlieir fi'equent damage. Alex £1nd hi% collaborators catne up with a gentle watcrless alternative that leaves clothes bacreria-Éree 2nd smelliiig flesh. Alex's solo project was originally inspired by rowin& and the feelings of calm fflany experience whilst uut on the warer. Throiigli a lengthy devcloptn¢nt process, rhis rcsiilted in his cre2tion of novel appr(Trach to miiidfulness at home that incorporated gentle exercise, iiature tlierapy and movement- responsive audio. After graduation Alex has gone full time it the ex-IDE 5tartiip he'd beeii helping out with part time dLing his studics, C.hai'co Neiirotech. 14e wnrl<s on a range of areas including pr()diict development, maiiufacturingi and conimui)ity Support. Charco NeL]rotech recently laiinched their product the CUF.I, a non-invasive wearable that alleviates the movemeiit syinptoms of l)arlcinson's. David Harrls Course.. Global Innovation Design Royal College ofArt/lmPth'ial College London During his Studentship, David was driven by his desire to apply hi.% backEroiind in product innuvation and venture building to ideas with social iinpact. A ceThtial theme of his work was designing platforms, seryices and experiences that facilitate wellbeingF aiid hL]Inaii connections. Duiiiig GID David spent a yeai liviiigF in Tokyo, wlieLe the widespread presence of daily rituals in Jai)anesc culture ii)spired a I'esearcl) pi'ojcct inti) I'itual design. The filial Loiivepr presented was R£tually. a digital assistant for PeLsonal ritual Cleation that cnablc.% people to pSayfLilly establish new plltterns of behaviour, fvr instance by designing ritual objeetg. Whilst takinLF remote Llasses at Brooklyn's l)ratt InstktL7te, David explorcd the epidemic of Lirban lone15ne%s and social isolarioii. lii collaboi'ation with residents OE New Yorli, he deSibTned Pal, a Eresh spin on ti'aditional pen pal scheincs aimed at biiilding mol'e meaningfLII human cnnnecrions and cohesive cummunities in local iicighbourhoods of large metropolitan areas. David's filial yeai. pi'oject NEXTshowcased a digital platfoi'm that connecrs people rran5itioning int Letilemenr and en2bles tliem to find a new pui'p05e iii life by stai'ting impactful community projects witli others. NEXTfollowed a humc1n-¢cnti'td design appi'oach, iiivolving (Iver 20 participant interviews and built oli the expr¢55ed needs for meaningful activity in rctsrement and oppoi'tunities to exp&nd social cunnections. David is iiow leading tlie prodiict iiiiinvatioii te2m at a London-based software start-up where he wnrlis in paitnelship with tlie NHS and coinmuiiity OLganisation5 to addre55 SOL121 determinants of healrh. Flis primary fi)¢us is on develnping a digital ecusyst¢m of wellbeing siippurr and exploring the future of self_cai'e pathways fol Citizeiis. Flc is part of the DigitalHe21th.l.ondon acccleratoi. pi'ogi'ilmnic fur digital iniiovarioii in liealtli and care. 33
Ella Hetherington Couise.. Bio-integrated Design University College Londf) b,Ila's i-esearcli focused on passive bioremediation o)f watei using melanin, a n1( tural pigment foiind in all bi(Ilogical Icingdoms. Ii) nature, melanin's fiinctian is oftcii for protectioi) Irom harmful environmental stresses. Melanin is capable of biiidiiig and absorbing Inany liarmful pollutants Such as heavy met215. l-leavy i)ietal pO1Ur1nt5 are one OE the most challenging.sub5t1c nces ro remove from uur enviloiiment 2S they arc bio acclimulative. They cali be costly and time consuming to remove llsing cui'rent physical and clietnEcal Inethods. Melanin is produced in-situ by bacteria that can expi'ess tlie pigment extracelllllai'ly. Thc bacteria are gi'owji inside tilcs of a hydi'uLFel Jnatei'ial Iiiade Froin seaweed tliat 15 both highly al)snrbcnt and biocoinpatible. Creatiiig ioborically priiited lattices of these hydrogels maximises surface Area for absorl)ance. The Inelaniii can borh permanently bind ihe mct31 or act as a reservoir which poses exciting prospects foi the recovcry and recycling of these metals. Following her Studentship) F.Ila is continiiing witli the development of her pi'oject as a researcher at UCL with the aini of making a plotype foi iiistallation on a site. She is algo a rc5earch ssisrant a Dcw projecr exploi'ing the aut()mation of construction of c.ob la.5Lisrainahle natiii'al l)uildiiig material made fi'om sub.soil, water 2nd a fibi'au.% aggi'egate like sti'awl witli ijidusti'ial robutics. Sandeep Hoonjan Couise.. Innovatinn Design Engineering Royal College ofArt/lM¢Perial College Londo Duriiig his srudentsliip, Sajidcep focused on computational solutions to sustainable eating) physical comilluiiicaiion, and longevity of clectrnnics. Sandecp's final group i)ioject, Meal F.ngi17e, was a systein for gcjierating customised food recipes in a way that fosiei'ed more sustainable aiid liealtliier pLactiLes foi both the cunsumer and produccr. The basis of thib wa5 a visiial programming language Sandeep devised called EGlang7 which condeiised rhe camplex act of co()Iiing into simple c12sxes. Saiideep aiid his team iiieit]bers dcvised meihods for incolporatiiig such a system ijito existing Eood systems now and far iiito the flltlli'e. His final s()lu pruject, ComPiitL7tioi?dlHeirloo#ts, created a manifesto for computational hardware that could last niiiltiplc human lifetimes. S2ndeep tool( a hybrid approach uf speculative design and physical prototypt bTen¢ration to cleate a vision OF rhe future whei'e our computatirjnal device5 al'e clierished and enjoyed as life partn¢rs, ratlier than disposal)le tools. One of lil5 n105t notahle fii'st-year projects wa5 entitled "Feel the Conversation" created in collaboratioi) with Xian£lii Zhang. It consisted of a set of cominunication devices that translated multilingual convers2ti(Trn8 inti) a siniple haptic movement. The pi'oject rcceivcd global press and was included in a yeai'_long exhibitioii at the Stedelijk Museuin Ainsterdain. Since gradLJating> Sandeep has beguii work as a designer and creative technolobyibt, where much of his work fucuses oil fLlture developments in digital communication. 34
Daniel Icaraj
Course.. Global Innovation De%ign
Royal College ofArt/lmPeYial College Londoii
During liis Studeiitsliip Daniel Eocused otl the I'elationship between diblt2] and physical media, frum
exhibiting at a physical pixel aj't show in Japan, exploring tlie effect of tcchiiology on the fiiture of
music to more extensive projects focused on the application OE technology to aid in physical and
mental health care.
Developed in consiiltation with London based cellular agricL]Iture Start-up Hoxron barms, Daniel's
final projeci E&igr{c/tI¢?'e is a prupusal in wliich cultured meat is incubated using Iiou5chold chiclcens
in a ciTrnsiimcr's garden. Unfertilised eggs are gFiven tLansformatiotJ factors ro iiiduc¢ plui'ipotent steTn
cells and then growth factors ta guide the cells intn prodiicin¥ a portion of stealc, bacon or other Iiieat
fallnwing a three-week inLLibacion pcriod underneath a brooding hen. The proposal had three aiTn8'.
hiimanisiiig lah grawn meat, rcducing soine of the ecunoiniLal concerns by leveraging expei'ieiice
design principles and aligning lab grown meat with the liome-grown tnovement.
While on cxchangc sn Japan, Daniel w()i.ked at the University of 'fokyo with tlie DLX Design Lab
on capillaroscopy research. Since gLaduarion he has continued ro take on 50ftware engineeringr and
dc.%i¥n prnjects includiii¥ work with Nesca and tlie Scottish Governnicnt on the futiire of he<2ltlicare
data and further collaborations with the DLX Design Lab> primarily focused oil the futurc of
alltonomous ti'aDspoLt.
Roumyana Ilotopanova
CoLi7'se.. Maiiufacture and Commercialisation of Stem Cell 2nd Gene Therapies
University College Loiidon
Diiring hcr Master's year, Roiimyana worked on 2 reseai'ch project focLissed (In CAR-T cell therapy,
oiie of cl)e niai11 advaiiced tlierapies for leuk2emia based nn genetically modified patienr immune
¢ell%. The main liniiraiion of CAR-T therapy is ic5 hibh nianufactllring cost of ovcr £300,000 per
patient, which is why htr project explored differcnt methods for cell activation. Activation is oiie of
rhe sreps of the produLtioii process tl)at is a major cost diiver, hcnce, shc compared rhe llse of four
different flctivation methods and how each of them affects the quality VE patient cells. Additionally>
sl)e explored tlie pei'formancc in tliree diffeLent dnnoi's, sli()wing the.%ignificant diffeleiice Iliai donoi
m2tei.ial makes for therapy pruduL¢ion. She theii pi'oduced a final repoi't discussing tlic data ihe had
genei'ated and compai'ed the foul aciivation niethods based un cost-efficiency. Roumyana's project
liighliglited tlie potential of some of the i-eagents to improve proces.% efficicncy and reduce production
cost. It also brought ru ligl)c the need for furtlier Lesearch in the mattci of ccll activation 2s well as
fui'tlier innnv1tiDn in the adv<in¢ed therapy field.
Following her graduation, Roumyana is currently a cell and gene therapy scientist at
GlaxoSinithl<line as part of their FutL)rc l.eader% Pi'ogramme, a graduate pru&FI'afflme consistinLTr OE
three rotatiun5 Wlthin rlie Cell and CTciie Tlier2Py team in Stcvenage. There slie works nn developing
novel cell tlierapies in tlie onculuby field and eventually bi'inLFing7 tliein to tlie coinmercial market, tl)e
main focLiS being improving patient qiiality of lifc.
Max Medhurst
Coul'se.. Innovation Design F.Dgineering
Royal College ofArt/ImPerial College Londoii
The IDL course gave Max tlie skills and expei'iciicc to aiiply hi5 existing mechanical ciigineei'ing
Icnowledge to tlie ficld i)f desibTrn.Triid iniiovarion, Ivoil
Hugo Richaidson C()¢ii'se.. Innovation Design Engineering Royal College ofArt/IinPerial College LI))0 Throughout his Mastel's degree, HubTO'S l'oots in engrji1eer1ng and passioii for design led him to take an inreidisciplinary apploach ro rhe complex and nuanced cliallenges we facc. Today over a millioii tons of tyle wear particles al'e produced aiinually across Elli'ope. It is the second l#rbFest micruplastic pollutant in our oceans, toxic to Inaj'ine life, and a major contributor to airbori)e PM2.5. Hugo's final yeai. group pi'oject, J lie'lyi'e Collective, developed tlie fii'st Letlofittable devi¢e to capture tyre wcar at soui'ce, ro prevent these harmful parricles from entcring our eiivii'onment. Thanks to the support nf the Eloyal Commissiun, The 7yi-e Collective has gtrone (rotn univelsiry pi'ojecr io flilly fledgred st21'1 lip. They liad the honoiii. of winning rhe UIC National Jame5 Dysnn Award, Ml£ yor's Entrepreneur F.nvironmcnt Award as well 25 Forl)es.IOU30 Honouree5. Thi5 succe55, alongsid¢ a i'cceiit exliibitiun at tli¢ Desigii Museum lias lielped to inci'ease public awareness of tyre wear and prompt inipoLtaiit conversations ar()Lind thc topic wich policy makci's and industry leaders. Last Septembel, Hugo and his team completed their fiist on-vehicle test 1< longside CEVT 2nd Volvo. Over 2 period of 7 wee1<5, 3000km driven, the devicc successEully captured tyrc weal. and validated their cole technology. Without tackling tyre wear, tj'ansport will nevei be net-zeLQ. Hugo and his colleagues are now exploi'iiig ways of reusiiigF tliis captured material to create a closed luop system. 14ugn wislies ta thank the Coniniission for their ongoing supporc, without which this entij'e joui'ney woiild not havc been possible. Togctlicr, let's save OUL ali. froni tyrc wearl Joyzhang Cou15e.. Innovation Design Engineeiing Royal College ofArt/lmPerial CollegelA)iidon As a studeiit self_fiiiaiicinb liei iiiaster's education, Joy had considei'able difficiilty jugxling the cosr of livii)g wliile al.%() fielding tlie co.st of cour8c m2teJ'Eal.%. Tlii.% 1ncant.qhe took 011 part tiine job5 as she studied at the Roy21 College OF Art and Imperial CollebFe Luiidoii. When slie t'eLeived thc Iiidusct'ial Design Studentsl)ip in lieL secoiid yeal, (lie newfolind fin21)cial stcui'ity gave her tlie oppnrtunity to mol'e fi'eely invest in hei. final tl)csis prnject. Witlioiir tlie suppoi't of tl)¢ liidustrial Design Stlldentship> she feels she inight not have had the courage to pui'sue a thesis topic in Web 3.0, wliich is a field fai. i'emoved from her uiidergridu2te mechanical eiigiiieei'ing degree. Siiice tl)en, her final thesis pi'nject has featured in the 2021 Global Graduate Show, has gathei'ed advisoks aiTrd ollaboratoi's, and is on its journey Èo becoiniiibT a funded start-up. Joy says.. 'I can't express liow grateful l aiii to be pui'suiiig work I love and bclicve in" 36
Enterpiise Fellows Alcx Murdoclc C0771Pa7ty.' I'hermulon TeLbnology.' Affoi'clal)It nanoporous l)uilding in5ulatiun that is energy-efficient, firepi'nof and siistainable Therinuloji's nanupuroiis building insulation materials are engineered to tackle climate change and designed 10 make buildings eneigy efficient without compLomising safety. AerobTels are the most iiisulating materials in existence, but ciirreiit PLoduction costs have made tliermally efficient and fil'e safety-compliant products cost PLoliibitive Eoi the constLuctiOll sector. Thermulon has developed an iniiovAtive production pi'oce5S i]tilising new conrinuolls cheinical patliwily5 to pi'oduce an afEoLdable erogcl without ¢ompromisingT on fire-safcty or theLmal pei.foLiiiallLe. The company is now aiming to scale up productiun to capitalise on its iniiovation as the global tliertllal insu12tion market is set to boom. The growth is being driven by iiet-zcro target.% mandating better home iiisulation to reduce C02 emissi011s 2nd safety factors iiicluding the need to replace cladding i>n maiiy I'esidcniial L)uilding.% 2cro8.% tlie UK followingr rhc Cfl'cnfell fil'e trabFedy in 2017. Tlie compaiiy will initially taiget tlie UK iecrofit mai'ker uf solid-wall pi'opei'ties, wliicli account for 25 /0 of pj'operty biiilding stoclc which eqUlte$ to an estimated eight million dwellings. The UK high- rise buildingF marlcet, where combiistible matei'ia15 ale banned, will become anothei. kcy marlcet focus and, longer teLm, Thermulun aims to extend its <)fferingF to the global thelmal insulation maLlcet. o date, Thermulon has attracted 878 investols. It has rcccived a £750,000 gr2nt from Innovate Ulc and re¢¢ntly rai%ed £650,000 on Crowdcube. Matt Escott cOlP97Y.' Protolaunch Technology.. Rocket engines that use a novel thermodynamic cycle to enable trlily dedicated launch of Small Sarellires Protolaunch is a chemical pi'opulsion company changing the way rocket engines are desibFned t() enable future small launch vehicles. Satellites ale getting smaller while the roclcets that launcli thcm have not. A new generati(In of iiiiLrDSaunclier vehicle is on rhe horizon targeting <1 OOOlcg payloads. Sm211er rockets need smaller engines. Rediicing the size of engFines intended Eor much larger vehiLles results in spiralling complexity and cost. ProtolauTi¢h is tsking a different approach. Protol•unch has taken a bottom-up design phi1050phy to propulsion development, desigFning specifically Eoi. small payload.s fi'om tlie oiitfct. Tlicii. tcchn()logy levei'.Ige.% 2 new therinodynamic cycle and systein-level optilllisation5. 1"Iiis elimiiiates the need foi coiiiplex piinips and tiirl)machinery> r¢ducing manufllcturing complexity and producing vehicle weight savings. Positioned as an engine supplier, l)rotolauncli works witli launcli partners to bespoke standard pi'opulsion unitq for particular custonier use cases. Protolaunch was recently awarded the EnablingF Innovation award at Advanced Engiiiecriiig. 37
B¢lla~Tiang Ngo Coiitpaiiy.. Br<lrista 'Jechnolog)i.. Al-di'iveii vii'cuAI bla fittiiig seL'viLe BLaiisca is woi'king to demnci'arise i)rofcssion211)r2 ficting. Their visioii: a world wheie you can get fitted i)i'ofcssionally froin liojne usiii8 your plioi)e's cainei'a. Blarista brinLTS togeihei. a team nf prufessi01i21 bra fittels and computer vision scientists tn.%()Ive oiie of tlie bigge%t l)Lol?lems of fen121e well-beiiig. BLaLlSta proinotes convenience, accuracy and inclusivity? eliminating discomf(Irt, saving tiine and reduLinbT waste. Bralista was recently awaided a development grant by Future Fashion Factory, an initiative funded by UKRI. Varun Sarwal Company.. HaTniMer Missions Tecljitology.. Versatkle missioii planiiiiigy 2nd data analysis fui commercial drones Hammei. Missions heli)£ cliLnts collect and analy7.e quality drone data Eoi. asset mapping 2nd inspection. Tlieii. app allows clients to create autoinated flight plaiis, upload, annotate and sliaLe captured data wirh 211 stalceholdcrs, all in 3D, aiid automatically upload digitally maiiitain flight lo¥s to ensue opei'ations are efficient and conipliant. Hammcr recently deployed with a reforesting business usiiig drones to plant trees. Joseph Sherwood Cnnipany.. FLIT TcchNulogy.- Liglitweight foldin6F e-bikes for urban commuters Folding e-bil<es open up the market to ncw customers as they caji be easily stored oi" iised witli public transpoit. By developiiig a foldiiig e-bike frum sciatch, and integrating the electrical sygtem intn the fiaine, bLlfs fiLsr ploducc, tlie FLIT-16, is 30 /. liglitei. and sm211ei' th2n a typical foldiiig e-bike. FLIT-16s are av2ilablc for pui'chase on-line. FLIT is working on new models and hopes to trial a leasing schctne. In 2022 it Iiopcs to ¢xpand into internatEoiial markets in Eiirope and North Amcrica. Joseph parted company with FLIT in 2021 and 18 now a Research and Developjnent F.n8ineer at Robert Bion e( Co Ltd, an independeiit, ULI-based metal aiid plastic perEoLatiiiLy company. 38
Alumni Awards, Honours and Achievements A selection OF the alumni app()intmentS) publicitions, hoiioui's and awards noiified to tlie C()Tnmission. The Loniiiiis5iuii encoui'ages all alumni to keep their alL]mni pr(Trfiles up ro date so that their successes can he celebraied. Overseas Scliolars Professor Dawn Bazely11984-19871 AwaLded Minister'% Teaching Excellence Award, Ontario Ministry of ColleLies and Uiiiversities (for Furure Pi'oofing Students dulins tlie pandemic) Professor Jolin Boothroyd11976-19791 Elected to the Govelniiig Counci5 of tlie U.S. Natioiial Academy of Sciences Wsnner, Alice and C.C.. Wang Award in MulerulaL I)arasitologyy Amei'ican Society OE Biochemistry and Molecular Biology Profcssor Crispin Gardiner11965-19681 Piiblished Flemejits olStochÉtstic Methods Pi'ofessor Shahinif C,h2zanfar11977-19811 Became the filst Paliistani and tlic first woman in ASIA co be awarded the Linnean Medal in Ihe field ()f Botany sii)ce Ihe awai.d was instituted in 1888 Research Fellows Dr Jo Aslibourn12002-20041 Organi5ed di8¢u$8ion panels on Space T?dvel Ath'oss the Decodes a?Id Beyond and SedrGhixg loi. E.Ytrn-tei'i'esÈrial Iiitelligence Aci'nss a Cextuiy, and lectures by Professnr Carlo Rovelli on Scienlific ThinkipigAcross ihe CentMI'lES oizd tbe Foiindatioiis of J'h)Isi¢s and by NASA'S Chief Scientist on Tbe Mdi'liaA-,Science Fiction and ScicncE FoGt at the St Cross Centle for the HistuIy and Pliilosophy of Physics Di. Cliris Bowman-ScArgill12013-20161 Awaided El)51IC Eally Career Ilescarch Fellowship l£l.Im to work on Tensorand tuj'edth products ofsymnieti'ic &ii'oMPsl Piufessor Byron Byrne11999-20011 Flectcd Fcll(Iw nf the Royal Academy of Enbrineering Eor developing new design tnethods for tlie foundations of offshore wind turbines, leading ro the substantial cost savings that <lre now enabling tLie expansion of this green energy teclinology Professoi. Aiiiin Donstinohammadi12017-20191 Awardcd ERL St2rtiiig Graiit IEI.5ill to work on Physics of collective cell decision-n7akingl Awarded New Expl()i'atory RcsLarch ei Discovely INERDI Grant Ei'oni NOVL) Nordisk Foundatioii1É1.5m to woi'lc on TOP0.£7pY-Thedited cellulai. seitsiiig & cr)miff unicatioiil Awaided Yuuiib, ScieIitist I)iize and Medal iii Iliopliysics, Tlic Inteinational Uiiioii of ljiire and Applied Physics Awai.ded LaLS Kann-Rastniissen Prize, Denmark Dr Andrew HLimphi'is12002-20041 Appointed Hoiiorary Professor, School of Physics, Univer51ty of Bristol .19
Prnfes.gor Apala MajuindaL12006-20081 Appointed Visitiiig l)i'ofessor, liidian Iiisritute of Technologyi Bombay Appuinted iiivited foreign expert, Institute of Responsivc Soft Matter, Indian Institute of Technology, Madras Llected to tlie Executive Coinmitree of the International Society for the Interaction of Mechanics aiid Marheinatics Appninted to the Edito¥ial Board OF Partial Differentlol Equatioiis aiid their Applications Di A12n W. McC.onnachie12006-20081 Elected to the College of New Scholars, Ai't15ts and Scientists of the Royal Society of Canada Di-MuhammadNangi-ejo12001-20031 Awarded Chartered Engineer status Professor Edward Tatc11999-20011 Awaided CIIUK Programiiie Graiit l£1.9m tu worl< on discovering 2nd validating Iiew drllg taibiets iii cancer) Profe5501. Aiidré Xuereb12011-20131 Appointed Ambassador for Digital Affairs, Malta Indusrrial Fellows Di Aiidrew Anderson12017-20201 Appointed Le2d Reseaj'ch and Deyeloptnent Engineer at Plasnia App Ltd Professor Michael Clinch11996-19991 F.lected Vicc-l)resideiit, Institute of Matcrsals, Minerals and Miniiig Appointed Visitiiig Plofessor, Imaterials Innovation and SLTrStainability) Loughborough University AwaLded Chai'tered Engineer statu. Di. Silvia ALagua5 Rc)driguez12014-20171 Appointcd Technical Director, sensor C02ting Systems Dr Ruth Sandeison12009-20121 Founder of Full Mati'ix Ltd, which in 2021 was awarded a coiitract with UKAEA to Study the feasibility of guided wave inspection fur supply pipes iii fusion reaLtor5 Industrial Design Students Arthur Carabott12015-20171 Winner, Cure77 Desigrn Education Initiative Awai'd f()r Intentioiial Iiiteractiniis, a mndlllt taiight to Students on tli¢ Cylnbal Innovation Design colli'se at the Royal College of Al't I Imperial College Londoii James Fraser12017-20191 aiid Janies Wright12012-20131 Launched Siist(7iiiable Ve17tMI'es Design, a desigtrii stiidio off¢rin&F services in new producr devel(IpmLnt, de5igFn engineeriiig and gi-aphic design, exclusively for impact-led founders and organisations Successfully completed Ilroject NEMO with tlie Royal CullegFe of Arr, worlciiig on a custom Inaliiie ob.%ervation cainera litted to Exii'eme F.'s ve.%.%el .gt Heleytth to monitor the SLirface of the world's oce211S> pj'ovidiiig dat£1 for 8ciet]ristS IllVeStigatiiig envii'ojiiiieiital siist£iiiiability> plastic pollution. luss of inaLine liabitats and new ocean econotnies Yiisiif MLihAmmad12006-20081 Plumis won Active / l)assive Fire Project of tlie Yea4 seCLItY and Fil'e Excellence Awards Fcatui'ed iii Lord WinstOll'5 boolc IiiLJentars 40
Enrerprise Fellows Guillem Biixi'i'ais120171 Neurofei)ix was one OE only 50 companies worldwide selected to parricipat¢ in MedTech Innovaror's Showcase and Accelerator Progi'amme Henrik Hagemann120161 Puraffinity awai.ded a grant of £174,000 ro succ£ssfL]Ily 01)cimisc a SL)ite of cidgorbent materials ¢0 ti'eat broad specti'um Pei. and pnlyfluoioalkyl substaiices tliat can be adai)ted to a range of point of use systems Ming ICong120161 TGO secuied a deal with French automotive supplicr Nnv2res for its smart 3D sensinbF material SLILakat ICudehinbu120191 RAB-Miciofluidics seciii'ed £1.2m inve.%tinent Appointed Invcstment Execurive, Green Angel Syndicate Appoinred to Entelprise Fellowships Selection Pa¥Jel Ben I,aliey120191 Syndi Health launclied integrated digital mental health platform witli UNIDAYS, the world's largest student di5Luunt platforin Y2ng Lu120161 VivaLity Labs secur¢d a contract froii) tlie City of Poit Philip? Australia. to install sensoi's to measLII'e bike) pedesti'ian and mot(Trr vehicle movenients, and to help the local council redlice eungestion alid incLeAse siistainal)le transport Rowan Minkley120191 Secur¢d £lm investtnent, allowing Chipls]Board to relocate to Yorkshire and establish a pilot plant Secllred conti'arts Wlth Cubitts eyewear and bespoke button tnanufacture DrAtiFgyed120181 Seciired £300m dcal for Wootzann with one nf rhe country's leadinL pack-house conglomerites Wootzano delivered first toinato packiiig iobot WootZ£1no received Made in the Noi'th East Award: Digital Engineeriiig I'lechnolosy GeorgFe Wriblit12D171 Vochle2 named one ofTechRoiind's top 28 UK Music and Audio Tech COEnpanies Rome Scholars Anne Desmet119891 Desigiicd tli¢ £5 coin laiJnched hy tlie Royal Minc in March 2021 to mai'k Ilie 150th Anniversary of rhe Royal Albert Flall Ciirattd and wrote the exhibition catalogue fol the touiing exhibiriun Sceiye tIJi'ug Wood.. A Ceiz¢117y olmodei'n Wood Eiigiaviitgcelebrating the centenary of tlie Society of Wood EngFI'avers Professor imark Jonc$119821 Elected Chair,'I"raditional Alchitccturc Gyoup Appointed Outpiit Assessor fur UK REF 2021 41
Report by the Chairman of the Finance Committee Executive sHI?gllfaly The Board of ManagFement has 2ppointed rhc Finance Committee as a sub-comtnittce to supei'vise the Loinmission's finaiices and investments. this Loininittee ineets at leasi Iwice a year. Sir William Castell 5repped down a5 a Cumniissioner and thc Chairman OF the Finance Committee in July. Ovei. hi.8 ienure lie i-eshaped the financcs ()f the coin1]SsIoJ1 and built ali exceptioiial gi'oup uf Cominstiee meinbei"s. He leaves the Cuminissioii's finances in exLellei)t Londiiion. I wuuld lil<c ro Ihanl< all members OF the Committee for their suppiirt as I traiisitioned into the role of Chair and for their ()nbF()ing valual)le conti'il)ution in ovei'8eeiiix tlie Coiiijnissiuii's fi112nces. Duringi 2021 thei'e were two fnrmal meetings of the Committee. In the spring meetEng we reviewed the annual accnllnts and mcc with the Commission's auditoi's. Wc also heard piesentatiuns from the iiivestmenrs ii)aLiag¢i's. Lil the autumn meetiiigF the Committee foLused on reviewing the long- tertn inve5tmeiit objective and investment qtrategy for the C,ommission, recognising tliat the returii of inflatioii and a less accoiT)iiiodative ii)onetaLy eiiviroiiiiieiit would be cliallengFiiig Ei)r markets. In vicw of the deieLoL*nition of Rl)l as a national statistic, rhe Committee recommended to the Cammi.%.%iuners that rhe investment nhjecrivc be revi%ed from 4 /u after Rljl tu 40/0 aftei. CL)I. Historic211y, CPI has teiided to be Somewhat lower rhan Rl)I, which 5hL)uld iiieaii that thi5 change has the advanrage uf makin¥ the invesrment objective niore i'ealistic in the new eiivironment. During the year the Commissioners also appointed and onboarded a new property advisoi., Daniel Watney LLI) Highligtrbts lui. the calenda?. yei71' to 31 Decembei. 2021 The Comiiiission's inconie and gains delive plimarily froiii its investnient portfolio. For the 12-mnnth peTiod the invesiineiit portfolio bFenerated combined income aiid gains of £17,08CI,913 12020.. £15,59.3,0691. The toral funds as of 31 D¢cembcr 2021 wei'e £150,029,55912020.. £138,125,545>. Expenditure on core Fellowships and Student%hips increased from £3,245,516 to £3,839,642. Total exi)enditLire on chai'itablc ¢1Ctiviries of £4,538,642 was £640,019 less tl)atk tlic previous year. This pi'iniaiily ieflects an exLeptional Special Awai'd in 2020 uf £1.2ni for public realm impi'ovements At the noi'thern end of the Commission's c5tate. Expenditure uii i'aising fuiids- which primarily Lomprises investment and property management fees decreased from £740,364 iii 2020 to £643,88.3 in 2021. Investnient Policy Over the long teirn, the CmmISsIo]I aims tu disbiii'se 4 /0 per aiiiium OE the trailiii¥ tliree-year averag?e value of the portfuliu. Howevei., rhe Comnii.%.%iDn has fcw il any fixed liabilities 11nd anniial budgct5 include an allowance for Spccial Awai'ds thar can be adjiisted witliout detlimeiit tu othei. prograiiimes so this can vary fiom year to ycai. dependiiig on grant makin¥ opportunities and investment returns. The iiivestii)ent objective is t() Eeiierate a i'etui'n ol at least iiiflatioii plu5 4 /0 per aiiiiuin ()vei' the long term, after expenses. Tliis sh(Juld allow the Coininission to at least maintain and ideally grow the i-eal valuc of the asscrs, whilst generatinuF a stablc aiid sustainable i'etllLI) tu fund aiiiiual expenditure as set oiit above. Tli¢ biiiaiice CoininittEe li.2s detei'iniIi¢d that tlie inflarion IneasllLe most i'clcvaiii to tlie Coinmission's expenditure 15 tlic Coiisumer Price Index. The biiiaiice Committee is Lhargtred with abFI'eeingi a high-level asset alloc2tivn strategy with the inv¢%ttnciit InanageLS, which is ser so aq tlj 2Lhievc the overall Coinmi.%sion inve.%tment objective. The Fin811ce Comiiiittee will i'¢visit the strategic asset alloLation, aiid consider tlie need foi- taLtiC21 deviatioiis Ei'oiii it, on at least ai) aiiiiual basis. .1 lie bi11211ce Committee i8 re%ponsiblc (or ideiitifying aiid moiiitoring investinent managers and invcstment Vehicles for rhe Commission. 42
The Commission's portfolio is investcd by three investment managers.. Schroder & Co. I.td. Charles Staiil¢y & Cu. Ltd aiid JI) IMuLgFan Asset Management IUKI Ltd. The Coiiimission also has direct PLOPCI'ty holdings on its legacy estate in South Icensingtoii. The asset allocation of tlie combined portfolio as at 31 December was 7.5.40/1) in glohal cquities,-3.1 /0 in listed altei'native asset.q, 8.8 1,, in cash and boiids and 12.7 /0 111 the legacy estate lat the end of 2020 the pi'oportions were 69.0 %, 2.9 /., 11.9 % and 16.2 % I'e%pectivelyl. Schroder k Co, Ltd and Chilles Stanley invest g?loballys pi'edoillinately iii equities aiid returned 11.8 /n 2nd l 1.7 /n respectively1202C).. 12,8 /u and 12.7 /0 rcspcctiv¥lyl. JP M()I'gan As.5et Management IUKI Ltd Inanagc a shoj't diiratinn bond accoiint aiid Letiirned 0.8 /.12020.. 6.2 %). I"he directly held pruperty returned 7.6 /012020: 11.6 /ol enjoyiiig Ipredoniiiiantly unrealised revaluarionl gl< in5 of £"1,21.3,60712020.. £1,975,082). the majoi'ity of clie gains i-eflecting decreasing lease terffls and the inLI'easing impact of Leversionai'y values. Incnine from pi-operty over tlie 12 months was £594,26912020- £1,300,782 including, baclc rent OE £665,000). As at the balaiice slieet date, the Commission's main segregated eqLiiry poi'tfolio liad scoiie l and 2 carbc)n emi55ions that were 82 /. less than the MSCI Woild iiidex12020- 81,/. less than the MSCI WoLld index). The cai'bon intensity of the CmmISsiOn,5 combined equity portfolii) (direct and inLliiect huldingFsl, measLLLed in toniics of C02 einisslolIs per fflillit)ii dollaLS of sales was a little over half that of the MSCI Woi'ld index, bi'oadly it) line with the position rhe previous year. Long term Performax¢e vs investm*iit objective The value OF the iiivestinent portFolia- and the gi'aiit iiiaking ir Eiinds- has gi'nwn Significantly in real terms ovei the last 10 years. The aiinualised real retllrn achieved has been 8.0 % for 10 years, 6.5'/. for 5 years and 9..3 /, for 3 ycar%. Tlie Commissioii reLognises this lias been against a backdLOP of higli equiry returns and central baiik ea.ging. As we move inro a pei'iod of hsgl)ei' iiiflatini) and tigl)tening moiietary policyj rlie Commission recognises tlie 'excess" rcal retiii'n enjoyed over tlie last decade is likely to reduce and so I'emains flexible in its disbulseineiii policy. Reserves Poliry The Commission's funds originated from the Slirpllls 2ri%ing froin the Gi'eat F.xhil)ition of1851 and have been eiilianced by caicful stewardship of the assets invested over illajiy years. They al'e technically unresti'icted, giving the Commissioners the ability to spend th¢ funds as they wish in Eulfiltnent of rlie charitab5e objectives of the Cominission. None of the funds are in assets that cannot LTadily be realised. li) ordei. to balance rlie iieed5 of cui'lent And poccnrial future heneficiai'ies t)f the cl)ai'ity, tlie Commissivner5 reLognise rhe iieed ro inaintaiii a strong capitlc I base so as co deliver ali appropriatc level of i'ctui'n tn enable tlie Coinmissioii to ci)ntinue to fu5fi1 irs cliaritable objecrive5 011 a lonb-term basis. AccordinLIyJ all of tlie Colnml.%Io's flinds are invested in linc with the iiivc5tment policy described above and iiornial expenditure coiniiiitiiients al'e set to match tlie a55111necl aveLage return above iiiflatioii delivercd by the POLtfolio. Given the Gimmission's flexil)ility 10 spencl oapital if require(I, tlie Conimi551c)Iiei'5 do not coJisidei' tliat tliei'e is any mei'it iii idcntifying an 01)tiii)um level of free reserves that rnlbht be readily available if Lequirea bui will iebpoiid appropriately tu speiidiiig Jiteds idetitified as and wheii cii'ciimstances ai'ise. The Conimission s Auditor 111 2008, Moore KiJig8toii Smith Ll.P was api)ointed the Commission's auditor following a comperitive teiidei'.'Flie audit p2rtii¢i' Jiiect5 With the Finance Coininittee at least once each year. In the inrei'ests of gond gavei'naiice, the audit iiian1ger clianges at least evel'y five yeais and the audit partiici. at least every tel) ycars. 44
Jlie Commission adopts a total Leturn approach to iiivestmenty generating the investment return
from income and capital gains 01. loss¢.%. Recognisin¥ thc likLly volatility nf the c2Pltal, the
Commission will typically aim to generate an overall incoine retiirii OF between 2 % and 3 /u per
annuni to reduce the ri51( tliat losses will iieed to bc crystallised to fund commitincnts.
The Comniissioii recoxnizes that long term investment is subject to market? polstical, economic,
counteiparty and other Lisl<s, Wlfli fii)ancial instability in paiticulai beingy a key risk. The
Commission also I'ecngnizes iiiflation as a significaiii I'isk ro the Inng-tei'm sustainability of its
2Ctivities and one that the investment policy shoLild mitigate asainst.
The trLlgtees are able to tolerate vn12tility of the capital value, as long as the Commissioll is able to
Ineet its short-teiiii gLant niaking coiiiiiiitments. throubh eithei. incuffle or liquid capital assets."Io
allow for volatiliry of capital V1( lues, the rrustees wisl) to maintain at least £.Sm in ca%h 01. IL)wcr I'isk
fixed iiicnme inve5ttnent.s. Beiqi'ing in niind inci)me generated l)y the poi'tfr)lio and the flexil?ility to
cuitail Special AwaLds, tliis sholild 311uw three y¢ar5' wortli of bellciwships to be Euncled without
needing ro sell risk assets.
Ethical IveStment Policy
The C,ommission recognises that its investments hayc Nvidcr impacts and seelcs to align its investinent
strarcgy with irs ainis, ieflectiiig tlie views of its stalceliuld¢i's and taking inco 1ccount bruadei. public
l)enefit. Thc Coillniission expects its invesri))ent m2n2ger8 to intcgiate Eiivironniental, Social 2nd
Gnvern2ncc IF.SGI consideratians into thc normal investment process and to fiilfil the requireinents
OE the UK Stewardship Code, actively enbla]ng wirh the companies in which they invest to pi'omote
best practice corporate behaviaur and 8ustaiiiable l)ii£ine.ss practices. Given its limited staff resources,
it is not pj'actical for the Con)mission to engage diyectly witli iiidividiial compaiiies biit it dves expect
its investment iiianagers to repoit annually on theii engagetnent activities and results.
The Commission expeet5 Its invcstm¢nt managers co apply ESG considerations to both segregated
liuldings and pouled l)oldings, taking account (If tlie extent to which siiirable alternative invc5trnent
vehicle% arc availahle and l?earing in mind de miniTlliS consideration.. The Commission will only
ai)point nian2ger5 who are sigiiatories to tlie UN Principles uf Re5PVllsiblc IiivesriTLent IUN I)Rll and
will take iiito account the ranking assigned to those nianagers by rhe UN PRI.
The Cotnmissioi) n11y exclude certain &tDclcs or s¢ctOLS whei'e these are seen ru be in dirett conflict
with its objects and 1¢ Ctiviries. Equallyy wheie con%isr¢nt with the finc1ncial objective8, th¢ Commission
seeks to invest areas witli positive environmental 2nd l or social impact, such as clean eiierby aod
various areas OE new technology.
The Coimmission rccognises tliat climate cliaiige 18 a key cliallenge for tl)e next decade and char
liinitlllL Llobal ieinpeiature i'ises will require siLFnificant cliangre in businegs, investmcnr, teclinology
developmeTrt and fossil fuel use. The Commission monitors the carbon emissions of its main equity
investment portfolio and through its investment managers seeks to reduce these emissiuns over time.
Investmeitt Pei'formance 2021
2021 was another challenging yeai. for investors. Key themes over the year incliided the emergence
of the Omicrijn v.I1'i.Int, nngoiiig Supply chain disYLip¢ions, high inflation i-eadoiits and expectations
foL tiglitciiiiig nionetary policy in tlie US aiid Eiii'opc. Despite cliis eqiiity mai'k¢ts had a strong 2021
in aLLFI'egTare, with tlie MSCI ACWI Index retllrnin¥ 19.6 /ts across the year. Beneath this, however,
tl)ei'e Wils a liigh degi'ee of dispersion in recui'ns across sectol's <ind regions, with a significant amouiii
of global equity peLEoLJiiance di'ivcii by a 5Jiiall nuiiibei. OE US te¢linolob'Y Stocks. Ci'edit mai'kets were
weak in aggi'eg.Trte in 2021,1)artlLulai.ly Ii)llb diir<l1inll l)onds, in pai't linlccd to higher inflation 2nd
cxpcctations of intei'est rate rises in a niiinber of regions. I'l)e Bloombeig B
Statement of Commissioners, Responsibilities The Commi.ssionei'8 are iesponsible for pieparing the Ti'ustees, Repoi't ajid tlie financial 5t1¢ tements in 2ccordance witli applicahle law and United Kingdi)m Accountinb, Standards Iunitcd Kiiib,doni Genelally ALcepted Accountiiig Ilractice.) T11e law applicable to cl)arities in England and Walcs i'equires t5ie Coininissioners to prepai'c fiiiancial sratemencs foi. eaili finaiicial yeaL wliich give a ti'ue and fair view of rlie Stare of the affaii's of tlie Commission and of the inL()ming resourLrs and application of Lesources of the Commission for that peLiod. In pi'cpaLiiig tliese financial.%rlG tcment%, tlie Commissioners are requiled io.. select suitablc accoiinting policies and tlien apply tliem consistently> obserye the methods and priiiciples in the Charities SORI).
Inake jud¥enitntS 21)cl estimates that ale Leasonable and priideiit. state whether xpplicable accounting standards have l)een followed, sllbjecr to any material departures disclosed and expl.iined iii the fiiiat]cial statenients. pi'ep2Le tlie financial statenients on the going concern basis unless ic i.s inclPPI'aPLiate to presunie that rhe Cotnmibsion will continue in business. The Lonimissioners are responsible for keeping propcr accolinting recoi'ds that disclose with I'ea.%on2ble accuracy at any time tlie fiiiancial position ()f the Cuininissioii and enable them to ensiii'c tliat tlie fiiiancial statements comply witli Ihe Chai'itie8 ALt 2011, tlie Cliality IALLvllnts aiid Repoi'tsl liegTulaiion$ 20011 and tlie provision5 of the Royal Ch2rter. Thcy ar£ al.E() responsible for safeguarding tl)e asscts of the Commissioii and hence for taking reasonable 5t¢ps for the prevention and detcction OE fraLid and other iri'egularitlC8. The Anniial Report on page5 1 to 45 2nd 50 to 77 was appi'oved by the Commissionels on 6 Jiily 2022. s Sandi'a Robcrtson 45
Independent Auditor's Report to the Comtnissioners of Royal Cominission for the Exhibition of 185J Opinioii We have audited the financial stateinent& of the Iloyal Coinmission for the Exhibiiioii of 1851 for the year ended 31 DecembeL 2021 wliich coinpLise the Statement af Financial Activities, the SiimmAI'y Incoine and Expeiiditure Account, thc Balance Sheet, the Cash Flow Stateiiient and iiotes to the financial statemciitf, including 2 suinmai'y af sigiiificai)t accountiiig policies. Tlie financi21 reporting framework that has been applied in their pi'eparation is applicabl¢ law and Uiiited Kingdom AcLountlllb' Sraiidirds, inLllldiiib FRS 102'The Financial Reparting Standard Applicablc in the UK and Repul)lic Ireland, Iunited Kiiigdom Genei'ally Accepced AcLountlllb' l)racticel. In our opinion the financial statement.%: give a true and fail view of the state of tlie charity's affairs as at 31 December 2021, and of its incoming resources and application of re50urccs, fo¥ tlie year tlicn elided. have beeii prnpLrly prepai'ed in accordance with United Kiiigdom Geneially Accepted Accnunting Pr2Ctice,' aiid have been prepared in accordance with the requirements of the Chai'ities Act 2011. Basis for opixion We conductcd our audit accordaiice with Interijatioiial Staiidards (In Aiidiring IUKI IISAS IUKII aiid applicable law. Olir responsibilities under those 8tandards al'e Eiirthcr de%cJ'ibcd in tlie Aildifoi s respoiisibilities foi. the audit r)f the fiiitsiiti&l stateiiieiits Section of OUL report. We are iiidependent of the cl)aJ'iry in accordance witli tlie etliical iequii'eiiients that al'e relevaiir ro our audit of tlie finaiicial stateinents iii rlie UK, iT)Lluding rlie FRC'S Etl)ical Standai'd, ai)d wc Iiavt fulfilled oui otlieL ¢tliical re,%ponsibilities in accordaiice with these iequirement5. We believe that tlic audic evidence we liave obtaiiied is sufficieiit and 2PPLopriate to provide a basis fvi. our opinion. Conclusinyis I'eluting to going concei¥7 In auditiiig rhe financi218t2tements, we have concluded chat the Commissioners, use of the going concei'n basis of accounting in the prepai'ation OE tlie finaiicial statemen15 is appi-OPLlate. Based on tlie woi.k wc have i)erforiiied, we have not identified aiiy Jnatei'ial uticeitaiiities i'elating to events or conditions rliat, individually or LDllectivcly> niay cast signifiLant doubr on tlie Ll)ai'iry's ability to ¢oiiciiiue as a goinLF Loncei'il fol a pei'iod of at least twelve montl).8 fi'om when the financial statements are authoi'ised for issue. Oui Lespoiisibilities and the responsibiliri£s of the Commissioiiers with I'esPCCt to going eonc¢rn are described in the relevant sections of this report. Other inforniatioit The other inEoLfflation compiises tlie infoi'matiun included in tlie annual report, other tlian the fiiiancial st.qtenients i)ut- audicoi s reporr rlierenn. Tlie Cnmmissionei's ale i'espoii.8ible foi tl)e otl)ei- infoi'ination. Olli. opinioii 011 tl)e fiiiaiici21 stateinents doe5 nor covei. tlie otliei. infui'inarion 2nd, exeept to the exceiir orhei'wise explicitly stated iii our repnrt, WL du not expi'ess any foi'm of assuiance con¢lusioR tliereon. 46
Independent Auditor's Report t() the Commissior)ers of Royal Commission for the Exhibition of 1851 (continued) n connection with oiii. audit of the financial statements nur re.%pnnsiliility 1% to read Ihe othel infi)rmation and, in doing so, consider whether the other information is materixlly inconsistent with the financial stAtemenis oi- nur kn()wledge ol)iained in the audit or Litl)erwise apptai's to be materially inisstated. If we identify such material inconsistencies or apparent matLI'ial misstatetnents, we are i'equirecl to determne whethei. theLe is 2 iTJaterial misstatemenc in tl)e financial scatcment. or a materi1c I mi88t2tement of Ihe ()th¢r information. IE, based on the work we Iiave perfoi'med, we coiiclude that theie is a mat¢i'ial iiiisstatement of this other iiiformation we are requiicd tu i'epoir that fact. We have nothing to report in tliis regard. ML7¢teis which we are required to I'eftnrt by exception We have notliing to rcport in respect of rhe followingF mattel's where the Charities Act 2011 rcquires lis ro Lepoi't to yoii if, in our opinion.. the inform2tion given in rhe Commissioners, Annual Report is inconsistent itk any mateiial respect with the financial sratements. or
the charity has not l<ept adequate accounting records. or tl)e financial srRtements are i)ot in agieemenr with rhe accountiiig records aiid Leturns. or we have not ieceived all the inEurniation and explanatioiis we i'cquired for our audit. Responsibilities of Commissioners As explained more fully in the Cammissionei'8' responsibilities statement set out on pagFe 45, the Coiiiiiiissioners are responssble for tlie preparation of the financial statement.% and for being satisfied that they ¥ive a true and fair view, and lor such iniernal Luntrol as thc CofflfflissioneLS determine is necessary to enable the pi'epai'Ation of fillancial st<ltcments that are free from matei'ial miss11< tement, whether due to fraud oi. error. In i)I'epai'iiig tlic fina11ci21 stateinents, tl)e commi.ssioiiei.s al'e i'esi)onsiblc for asge84ing the chai'ity's abilkty to Lontinue as a goiiig coiicerii, disclosing) as applicable, matters related to going concei'n and using the going concern basis of accounting unless the Commissioners either inreiid to liquidate the ch2riry oi. to cease operation.s, or have I'ealistic alternative but to do so. Auditoi s responsibilities for the audit of tlje fiiiuilcialstatet¢rtts We have been appoiiited as Rudiror under section 144 of th¢ Cliarities Act 2011 and Leport in a¢coi'd2nce with regiilations made under section 154 of that Act. Our objectives al'e to obtain reasonable assuiance about wlietlier tlie fiiiaiicial statemeiits as a wliole are frcc from iiiaterial misstarement, whethei. di)e t() fraud or err()r, <ind to i.%8ue an auditor's repoit tliat iiTrcludes Olir opinioii. Ileasonable a.%%urance is a liigh level OF aSSLir2nce biit is not a guarantee that an audit condiicted in acLoLdance with ISAS IUKI will always detect a niateLial Inisstateineiit wlien 1¢ exists. Misstatcnieiits can <irise from fi'alid 01. eLI'or aiid al'e coiisidered matcrial if, iiidividually OL iii aggLeLFlte tliey CULJld Leasoiiably bc expectcd to Enflueiice tlie eeoiioiiiic decisions of usery talien on the 62sis of these financial statei]i¢iits. Irregularities, including Iraud, are in5tanc¢5 of non<ompliance with laws and Legulations. We design procediires in line with oi?r responsibilities, nL]tlined above, co detect inaterial niisscatements in respect of ii'rcgiilai'ities, incliiding fraLid. The exrenc to which our procedures are capabl¢ OF detecting irregulai'itics, includinb fraiid is detailed below. 47
Iiidependent Auditor's Report to the C()mmissioners of Royal Commission for the Exhibition of 1851 Icontinuedl E.Ipldndtion ns t() what extent the at4dit was coiisidei'ed capable nf dete¢ti7ig in-egulrti'ities, iiicluding frdud The obje¢tiv¢s Of our audit in re.%pect of fraud, are.. to identify and asscss the risks OF Jnat¢rial misstatement ()F tht financial statements diie to ft'aud. to obtain sufficient appi'opriate audii evidencc regai'ding the as5e5sed i'islcs of inaterial misstatemeiit due to fralld, throiigh designing and impletnentingF approi)riate rc5poiises to those assessed risks; and to I'espond appropriately to instance.8 nf fi-aud 01- siispected fi'aud idciitificd dut'ing the audit. However, tlie PLiill2Ly I'esponsibility for the preventioll 2nd detectioii of friud rests witli buth management and those charged with goveriiance of rhe chai'ity. Our approach was as follows.. We ol)taincd an understandiiig ol tlie legal aiid i'egulatory iequirements appliLable to the chariry and coi)sidcred that tl)e most significant arc the Charirie.8 Act 2011, rhe Ch21'1ty SORI), and UK fin1ncial t'ei)ni'ting standai'ds as is8ued by the binancial Repoiting Council. We obtained an understanding of Iinw ¢he chai'ity complies with thesc requirements by disciissions with Jiianagemenr. We <lssessed rl)e i'isk nf matci'ial Ini%siatement nf thL fin2nci21 statenients includin£ tlie i-isk of material misstatemeiit due to fraud and liow it niibtrht occur, by liolding discussionb with manaLieJiieiit. We inquired of inanagement aiid tliose charged witli goveriiaIice as to any knuwii insrances nf non-coinpliance oi. suspected non-compliance with laws aiid regulatiijns. Based on tl)i& uiidei'staiidingy we designed specific appropriate audit i)i'ocedui'e.% to ideiitify in5t<1nces of non-compliance with laws and rcgLilatioi)s. This incliidcd making eiiquirie5 of tnanagement and obtaining additional corroboi'ative evideiice as required. As part of an aiidit in accordance with J.SAs IUKI we exei'cise professional jud8enient and maint21ti pi'ofessional scepticism througiiout the audit. We a15V: Identify and asse.%s tl)e ri£k.8 of material misstatement of the financial statements, wlietliei due to fi'aud oi eiroi., design aiid perform audit PLocedures responsive tu Eliose risks, and obtain audit evidence Lhat is sufficient and appropj'iate to proiTide a basis for Olir opininn. The risk OF not dtttcting a matei'ial misstarement resulting fr(Trni fraiid 1% liigher tlian for rjne resultjllb fi'om erior, as fraud inay iiivolve collusiol), forgTery) inteiit101121 omissions, misLepresenration%, or tlic overi'ide of interiial control. Obtaiii ali ui)dersranding of internal ¢ontrvl relevant to the audit in order to design alidir procedures that are apprnpri2te in the circuin.stances, but not for the pui'p05es of ¢xpre5sing an opinioii on the effcctiycness of tlie cliality's internal LoIiti'ol. Evaluat¢ the apprnpriateness of accoui)ring policies iised and tlic reasonableness o12eCOllllting estiniates and related disclosures Inade by tlie Commissionei%. Conclude on tlie appropj'iatcness of the Cniiimi.s%ioneLS' use of tlie guinLT coiicerIi basi5 of accouiiting and, based oil the audit evidence obtaiiied, wlietheL a matelial Iincertainty exists i'elated to evenrs oi. coiiditions rl)ar may cast sigiiificant dnuhr on rhe charity's al)ility to coiitiiiue as a going cnncern. If we conclude thar a iiiAtci'ial Iincertainty exists, we are i'cquired to draw attentiuii iii oui. auditor's iepo)rt ti) tlie Lelated dis¢losuLes iii rlie triii.IllLi.11 sttttement.% ()r, if sucli disclosiiles al'e in2dequate, ro modify our npinion. Our conclusion.s are based on the 211dit eyidcnce obtaiiied lip to tlie date of OLIL allditoi's report. Flowever, futuic eveiits or conditioiis may cause the charity to cease (o contiiiue as a gToing conLern. valuat¢ tli¢ ovei'all pi'¢sciiratioii, structui'e and content of tlie fiiiaiicithl stateinents, ii)cludiii the disclosures, and wlietlieL rlie fiiiaiicial stateinent5 LepLe5enr rhe undei'lying ti'aiisactinns and cvents itj a m2nnei' tliat achieves f2ir presentation. 48
Independent Auditor's Report to the Commissioners of Royal Commission for the Exhibition of 1851 Icontinuedl We communicate with those charged with governance regarding ainoiig otheL matters, the planned scope and tiiniiig of the auclit and.significant audit findingg, including any signilicani deficienLies in intcrnal control that we idenrify during oui audit. Use of OE47' repoi't This repoi't is fflade solely to thc chariry's Commissioners, as a body> in accordance with Chapter 3 of Pai't 8 of the Lharities Act 2011. Oui audit worlc has been undertakcn so tliat we Inight state ti) the charity's Commissioners tho%e mattels we are i'equired to state to tliem in an auditOJ 5 report and for other piirposc.'lo the fiillest extcnt permitted by law, we do n(It accept oi assutne responsibility to any party othel than the cliarity and cliarity's Commi55ioner5 as a body) for our audit work, for this report, or for th¢ opinion we have formed. Statutory Auditor 2 Appold Street London EC2A 2AP Moore KingFston Smith LLI) is elibyiblc to act as auditor in tcrms of Section 1212 of the Companies Act2006. 49
Royal Commission for the Exhibition of 1851 Statenient of Financial Activities foi the Yeai Ended 31 Deceml)er 2021 Unrestricted unds 2021 Uiiiestricted Funds 2020 Notes Income frum: Don.1tion.% Investiiients Oiher 3,000 2,256,608 58 71,107 2,715,229 925 TotAI income 2,259,666 2,787,261 Expenditure on: Raising Eunds Chalitable activities 64.3,883 4,538,642 740,364 5,178,661 Total expenditure 5,182,525 5,919,025 Net expendithrc before gains aiid losses on iiive&tmentS 12,922,859) 13,131,764) Net gains on investments Gains oil propei'ty Gains on investments 1,213,607 13,616,698 1,975,082 10,902,758 Total of net gains on invebtment5 14,830,305 12,877,840 Net income I 1,907,446 9,746,076 Other recognised gai115 and1055e5 Actuarial losses i)n defined benefit pension sclienie 14 13,4321 123,6261 Net movement in funds 11,904,014 9,722,450 Reconciliation of funds Total funds broughr fL)nvard Net moveiiient ili Fiiiids 138,125,545 11,904,014 128,403,095 9,722,450 Total funds carried forward 150,029,559 138,125,545 The notes nn pages 53 tn 71 form part of these accounts. Notes 1-2 provide d¢tails of the Commission's objectives aiid aLLOUlltiiig yolicies. 50
Royal Commission for the Exhibition of 1851 Balance Sheet as at 31 DeLembei 2021 Total Funds 2021 Total Funds 2020 Notes Fixed asset investincnts Investment pi'operties Listed investtnents Cash held fls part of the iiivesrmenc purtfolio 15 16 20,940,350 133,023,295 1,501,182 23,345,382 119,307,960 1,017,499 155,464,827 143,670,841 Current 85sets Dcbt()rs Cash at bank and in hand 17 404,829 1,577,788 1,140,855 I,103,335 1,982,617 2,244,190 Liabilities Creditors: Atnuunts falliiig due within one year 18 14,070,791) 14,580,884) Net curr¢nt liabilities 12,088,174) 12,336,694) Total assets less current liabilities 153,376,653 141,334,147 Creditnrs.. Amouiits falling due after morc than one year 18 12,948,094) 12,783,602) Net assets excluding pension liability 150,428,559 138,550,545 Defined benefic pension sclieme liability 14 1399,0001 1425,0001 Net a5Set5 150,029,559 138,125,545 Tlie funds of tlie Chaiity: Capital Funds Balance as at1 January Moveinent in year 138,125,545 11,904,014 128,403,09.5 9,722,450 Balance as at 31 Deceinber 150,029,559 138.125,545 by the Commissioners on 6 July 2022 and signed on tli¢ii' belialf by: Ms Sai)di'a Robei't80 Chairniaii, biiiance Co I'he notes on pages 53 to 71 form part of these accounts. ohn Lave eci'e mittec 51
Royal Commission for tlie Exliibition of 1851 Statement of Cash Flows foi- tlie Year Ended 31 Decembei 2021 Total Funds 2021 Total Funds 2020 Cash flows fi'om opei'ating activities Doiiatiuns receiv¢d (excluding donations in kindl C7rant5 and aw2¥d paid Payi*ent.% to siipplier5 Payments iii Lespecr of employees Other paymeiits 3,000 14,310,580) 11,0.30,4641 1324,1981 124,5701 71,107 13,460,0871 1885,4011 1312,5401 122,2141 Cash used in opei'ating activities 15,686,812) 14,609,135) Cash flows fi'oin iiivestingF activities Dividends, interest and rent from investinents Proceeds fi'om sale of investments Purchase of iiivestinent5 3,063,600 24,220,420 120,639,072) 1,756,794 60,431,106 158,065,375) Ner cash provided by investing activitics 6,644,948 4,122,.525 Change in cash and cash equivalents in the reporting pei'iod 958,136 1486,6101 Cash and cash equivalenrs brollght forward 2,120,834 2,607,444 Cash and cash equivalents carried forward 3,078,970 2,120,834 Disdosed as.. Cash hcld as part of the investmenr poi'tfolio Cash at ban1< and in hand 1,501,182 1,577,788 I,U17,499 1,103,335 3,078,970 2,120,IS34 52
Royal Commission for the Exhibition of 1851 Notes to tlie Financial Statements for the Year Ended .3 1 Deceml)eL 2021 I. STATUS AND OBJEcfivES The Cominhs5ion for the Exhibition of 18.51 was set Up by Royal C,harter in 1850 to plan and promnte the Exhibition of Works of Industry of all Nation5, which was to l)e held in L()t]don in 1851. When the affairs 1)f tlie Great Exhibition had eventually bccTh WULind 11P) the ComniissioiieLS were appointed, linder a Siipplemcntcll C,h2rrer, as a pLI'manent body to administer the 8urpliis fund5 at their disposal.'I'hcs¢ were to be applied in ordei. to "incre<ise tlic Jn¢aiis ol indiisti'ial educatioii and exieiid Ilie influeiice of science and aLt llpoii ploductive industry" 2. ACCOUNTING POLICIES 'rhe accoiints are prepared Lindei. the historic CO4f cnnvenrion, modified by the revaluation froin time io riine of Lti'tain [ed assers, atLd in accordance wich the Fiiiancial Repnr(ing Srand2rd applicable in the UK and Rcpublic of Ireland (effective January 20151 IFRS1021, Accoiinting aiid Kepui'tsiig by Chai'itics- Statementof Recommendcd Practice 2pplicable to charities prepaling their acLouiits in acLoi'dan¢e with the Fiiiaiicial Repuiting Standaid applicable in the UK and Republic of Ireland Icffective JanLiaiy 20191 ISORPI 2nd the Charities ALt 2011. In the estimation of the rrustees Ith¢ Commissioners), there are t30 material uncertainties that c211 intn doubt tlie Commission's ability tn conrinlie and the accounts have therefore been piepared on a going concern basi5. The Commission, like every ather org<1nisatioii, hag heen impicted by the pandemic. many eveiits. had to be cancelled and some prograiiinies moved on-line. In term8 ttf its col'e grant.making activity however, the Commission h2s largely been ablc to coiitinue as planned. As soun as the possibility of a pandemic bccame clear, the Finance Committee acted to ensiire that tliere wcle ufficieni cash or neai. cash as%et.% in place to Fund at least clii'ee yeaLS' expeiiditui'e in full. This gave confidence tliat tli¢ Cnmitti88ion would be able ra ride out the immediate disiupcion and need not curtail aiiy of its pi'ugrainmes. Investment niarkets liave, to be sure, been much mnre volarile and cl)e day-ro-day vttllle of tlie Coiiiiiiissiun's poi'tfolio has ineviiably Leflected that, Tlie Coiniiiissioii is a long-teiin investoi., liowevei, aiid Commi&8iane¥s I'einain c()nfident in tlie underlying strength of the portEolio- tliey sc¢ nu evidenLe xt this stage of ajiy pei'tnaiient loss of value. Indeed, the valiie OE the Ci)mniission's pnrtfolio has risen over the yeai.. Similarly> while some of the Commission's tenants have asked for and received temporary support with deferred rcnt dcmands and tlie like, therc is not cnn%idered to be any ris1< tu the long-term value of the estate. That is not to say of course that some of oiir legacy institutions liave not l)een sevcTcly imi)acted. The Cummission had Lobust business continuity plans iii place and Commissioners, Coillmittee members and staff have adapted Lelatively Straightforwardly to tlie iieed foT reniote worliiiig. Tlie 2020 and 2021 aw2rd I'ounds for all the Commission's Fellowsl)ips and Studentgliips have goiie alicad as plaiined with a full coiiiplement oE.Iwards made. A Iiiajoi'ity of existing awaLd holders have been able to ad1( pi clicit- workflow PÈltterns to fil thc unusual ciiiunistances iinpostd by lockdowns etc. Wlicrc tliis has not been possil)le, thc Commissian has gr<inted cxtensions and provided the neLebsary financial suppoi't. All iii all, Coii)iiiissioi)ei's al'e confide11t tliAt whatever rhe sliorr-tei-m di%iuptioi)s, rlie paiidemic should not have any material, long-teKm impact on the Comniisston's wolk. Tl)e Commissioii nieets tlie defiiiition of a public benefit entiry under FRSIO2. 53
Royal Commission for tlie Exliibition of 1851 Notes to the FinanLial Statements for the Year Ended 31 December 2021 2. ACCOUNTING POLICIES Icontinuedl Tl)e finai)cial stacetnents Aye pi'esented iii stei'liiig wl)iLlI is tlie functional curreiicy of the charity. Monetary aiiiounts are Lounded ro the ne21'e%t puund. 121 Inve5tmcnts lil Are shown in the b21ance Ehcct at malket valiie. any uiirealised gaiii over uriginal cost is sliowii iii clie statement of financial ucrivities. lill Income on investnients is incliidcd in the accoiints when Leceivable. liiil Casli held as parc of the investment portfolio includes short-term deposits held tenipoi'ai'ily witli tlie coiiipany's bankers pending re-investment. Ibl Donations, legacieq and similai. income Donations, legacie5 and simi12r income are inclLided in the year which they are receivable, tliat is, when tlic Coinmissioii becoin¢s ciititled to the inLum¢. Donarions received foi geneial purposcs ale included as Linrestricicd funds. Where the wishe5 of tlie donor are legally binding nn Commissioiiers, donations al'c accoiiiited for as RestLiCt¢d Funds with theii. use liinited to that defiiied by rlie doiioi. Icl Fixed Assets and Depreciatinn All purcliases of capital items under £10,000 are written off in the year of piii'chase. Capital items ovei. £10,000 2re depreciatcd over their estiniated useful econoinic lives. CllLrently no items are beiiig depreciated. Idl Investment Properties All the Commission's propertie8 are let to prnvide an inc(Jme on a fiill I'cpairing lease. All pr()perties are inspected regiilarly by the Conimi55ion's Surveyors aiid i'evalucd by them £ivm time to tiinc. Tlie last Eull revaluatioi) Was undertal<en at 31 December 2019 and was based on rlie exi.%ting use Ilnd OCCUPi£ tion OF rhe land, and the dui'ation of leases 2t giound I'ents and rack rents. These valuations arc rcviewed and adjiisted annually as described in iiote 15. (el ReAlised and Unrcali5ed Gains on Investnients Gains and losses on invtstniciit5 aiid assets held foi. the Comiiiission's use are treared iii accordai)ce with the Statement Of Ilecoiiiiiiejided Pi'actice.'I'hey are recoginised in the brarejneiit of fiiiancial aciiviiies foi the yeÉqr in whiLlI they ncciir. lfj Casli and cash equivalents Cash and cash cqiiivaleiirs incliide cash in hand, depnsits held at call witli banks, otliei shoi't-tei'iii liqiiid iiivestiiiciits with oi'igiiial Inaturities of three nioiitlis or le55, and baiilc overdi'afts. c.ash held on capital account pending investment by the chai'ity's investincnt man2gei's, together with cash for investmeiit in ti'ajisit bctwecii iiivcstiiient managers 15 disclosed witl)iii fixed asset investineiits. all otl)eL Lasli and L2sli equivaleiits is disilosed within current asset investments. 54
Royal Commission for the Exhibition of 1851 Notes to the Financial Statements for the Year Ended 31 Decembel 2021 2. ACCOUNTING POLICIES Icontinuedl Igl Lease premiums and licenees Preiniums received for lease extciision8 are treated as capital receipt5 and included within gains I (losses) on property ti'ansactions. Ccrtaiii other pi'emii)ms reccivcd which do not materially affect the undcrlying value of the Commission's investmcnt are tre2red as incoine Leceipts. Ihl Chai'itable activities The primary charitable aLtiYity is the making of giaiits and awards. Grai)ts and awards payable are accounted foi. on 2n accruals basis. Multi-year grants al'e aLcounted for in full iii rhe year that the grant is awarded. Th£ Commission recogni5es future liabilities discvunted to their present value where matei'ial. The majority of grants and awards xre made to individiials who have been granted Fellowships ui. Studentships by rlie Coniii)ission. A limited nuinb¢r OE awaids are madc to Institutions in fiirther2nce of th¢ir educational needs. Sume support IS also provided to rhe IcLFacy institutions oil the Commission's South Icensington estate and to organisations facilitating access to the Commission's archives. A full analysis is shown in note 9. The Commission a150 undertakes some direct charitable activities, in particiilar networking and ediicatinnal eYcnt8 org2nised for the C()mmission's Pellows, Studeiits, Alumni 2nd the geiielal public. Fiirtlier details arc shown in note 10. (Él Allocation of support costs Support costs are allocated on the basis OE board or staff time as appi'opriate. Ill Financial instruments The Commission has clected to apply rhe provisions of .Secrion 11 Basic Fi17micial Instiiimeiits and Section 12 Other Trinaiicitsl Instrmments Issues of FRS 102 to all of its financif11 inscrumeiits. Fin2rtcial iiistLuiMents arc rccobFnised in the Conitnission's balance sheet when the Cnmmission bcc(>mLS party tn rhe contractual provisions of tlie insrriiment. Basic finaiiGitsI assets Basic finaiiciil assers, which includc tr?c de 2nd oilier debiors and cash and baiik balanLes, are initially measiired at transaction price inclLiding ti'an5a¢tion co8tq and are.subqequently cariied ar amui'tis¢d cost usinby tlie effective iiiteLest Jnetliod iiiiless the ari'aiigement cnnstituies 8 finincing tran.%aciion, whct'e tlie trans&ition is Ineasui'ed at the present value of tlic fiiture receipts discounted at a market rate of intci'est. Othei. fi111711cidl 17ssets Otlier fiiiaiicial assets, iiicludii)g investments in equity instruments which are not SL]bsidiai'ics, associates or joinc ventures, are iiiitially measiiied at fail. valiie, wliicli is normally the transaction price. Such a.%set8 are siibsequently cari'iLd <lt fair value and tlie chaiibF¢S in Eair value are LccogiTrised iii tlie sr.qteineiir of finaiicial activities, eycepr rliar inve8tmenrs in eqiiity instruments that are not publicly tLaded and whose fair valiics cannot be measured rcliably are me281ired at cost le55 impairment. 55
Royal Cominission for tlie Exhibition of 1851 Notes tn the Financial Statements EOL the Yeai Ended 31 Decembei. 2021 2. ACCOUNTING POLICIES IcDntinuedl Ill Financial instium¢nts Icontinuedl Trade debroi's, loaiis aiid otlier debcols that liave fixed OL decei'minable paynienrs thar al'e iiot quoted in ai) aLtive mai'lcct are classified as 'l()2ns and I'eceival)les' Loaii.% aiid receivable.% arc measured ar amortised cr)sr u,sing the effective ijitcrcst method, less any impairment. Basic financial lial)ilities Basic finaiicial lial)ilitkes includiiig £i'aae and i)tliei' Ci'edttol's, al-e initially reLngnised ar transaLrion pi'iLe uiiless the arLanbFcmeni constitute.% a financing transaction, wlieLe the debt in.strumcnt ]% measured at the piesent valuc of the fLItLJre p2ymciits discounred at a niai'ket rate of iiiteicst. Debt instruments are subsequeiitly carried at amortised cost, using rhe effective ioterest rare method. Trade creditars ar¢ obligarions to pay for goods oi selvices rliit have beeii acquii'ed in tlie oi'dinary iour5e i)f l)usiness fi-oiii suppliei's. Ao¢c)unts payal)le llre Llassified as curi-ent liabilities if payment is due wiihiii one year or less. If iitst, thcy are presented as non-curreiit liabilitie%. Ti'adc creditOLS aie i'ecognised itiitially at transaction price aiid subsequently iiie.ISULed at aniortised cost using ilie effective iiiterest methnd. Otliei. fiiiaiicial liabilities Delivarives, includinLY interest Late swaps and forwaj'd forcign exchange contracts, are not hasic fiiiancial in.%truments. DerIVatv¢S ai'¢ initially recogIiised at fail. value oil the date 2 derivative cojitract is entered into and are subsequeiitly re-measured at their fair value. Cli.Ingyes iii the fair value of deiivacives ale recognised iii the srarement i)f fiiiancial activities in fiiiance cosrs or fii)aiice incoine as appropriate, uiiless tliey ai'c iiicluded in a liedging ai'rajigeinent. Ikl Retirement ben¢fits Payinents to defined cnntril)uiion reriremenr l)enefit schcmes are charged as an expense as they fall dLIe. Th¢ cost of i)i'ovidiiig beiiefits under defiiied b¢nefit i)lans is detei'miiied sepai'ately for eacli platj iisiiig the projcctcd unit ci'cdit metliod 2nd is based oli actuarial advice. The net intei'est elemcni is detei'inined hy mLiltiplying the iiet defincd btnefii liability by tlie discouiit l'ate, taking into aLcount any chaiiges in rlie nei defined l)enefit lial)ilicy dui'iiig the pei'ic)d as 1¢ result of c<)ntriliution and l)enefir Piiyineiits. The net illieresc is recngni8ed in the .st.Itemeiir of financial activities. Reiiieasulement chaiiges comprise actuarial gains and losses and the I'eturn an the n¢t dcfiiied l)enefi( lial)iliry excludiiig amoLints ii)clLided iii net iiitei-e.%r."1liesc al'e i'ecogiiised iminediately in the 5tat¢mciit of fiiiancial activities iii rhe period in wliicli th¢y occur. The defined ner benefit pension li11)ility iii tlie balanc¢ sheet coinpi'ises tlie tot.11 of tlie pi'esent vAlue of rlie defiiied benefit ublibtration lusEI)g a discounc l'ate based on liigli quality corpoi'ate bonds). 56
Royal Commission foi the Exhibition of 1851 Notes to the FirLaThcial Statements for the Year Ended 31 December 2021 2. ACCOUNTING POLICIES Iconiinuedl 111 Signilicant judgements and Icey souices OE estimation uncertllnry In the application OF tlie ch2rity's accoLinting pnlicies, Commig%ioners are required ro make judgemei)ts, estiinates 2Iid assumptiojis aboLlt the carryins valiie of assets and li2biliries that ai'e nor readily apparent from uthei. sources. Tlie estimates are based on historical experieiice aiicl othei. factoi's tliat are considered to hc relevant. Actual rLsults mlly differ from rliese estimates. Tli¢ key souices of estllll2tion unLei'taiiity tliat liave a significant eFfect on the amount rccognised in the accounts are.. the valuation of iiivestment properties, which are stated at tlicir estimated fair valiic based on professional valuations a% disclo£ed in Note 15. che valiiation Of miilti-ye3r graiitcoTnmitments, wliiLh talce iiitu account estimates of fucui'e iiiflation, eally withdi-aw21 iateg, claini l'ate5 and i)thei' Eaciols affcciing the final amount payable. in tliis context, and giyeii cuirent interest rates and gi'ant periods, discounting for thc time value of money is not considered iiiarerial.
the valuacion of the delinecl beiiefic pensiun &Lheine lial)ility) wliich is based on actuarial assumptians 2nd a professional valuation as set out in Nute 14. the valuation of future minimum lease paynieiits under nun-L2ncellable operating leases, which al'e di.%counted fnL inflation in accoida11ce wit11 Bank of Eiigland tai'LFets and ignore the potential effects of leasehold enfranchisemencs, as set OLIt in Note 15. 3. FUNDS All the Cominission's income and capital is expendable at the discretion of the Cotninissionerq and is therefore shown as a siiigle uni'estricted fund. Tlie Conimissioiiers hav¢ desisjiated pai't of the uiirestricted fund as a Special ProjeLts Fllnd. It is anricipated this will primarily be used to fund activities in connectioli with the 175th Anniversary of the Gteat F.xhihition in 2026 and the transition to nec zero. Movemeiits on rhe desigynated futLd are disclosed iii Note 20. 4. DONATIONS The Commission rcccived donations from I'he Biigatti Tiiist, The Faciilty of Royal Designers for Indiisri'y and The Rnyal Acidemy of Eiigrineeling. In e2Lh case tlie donation is for the g¢JieLal chaiirable purpose5 of the Coininission but with an explessed wish that it be uscd to 8llPPQrt the activities of the Sil Mislia Blaclc Awards Committee. Tlie donatioiis were iised to part Eiind tlie ceremony held on 19 Octol)er 2021 at which rlie 2020 and 2021 Medals and Awalds were presented. The Commissioners are vei'y gratcfLiI to each of the danars for theii. support. 5. INVEgrMENT INCOME 2021 2020 Reiltal inCOTne fi'nm UK properti¢5 Incnine fr()m managed investment8 IiiteLcsf on ieiit aLLeais Interesr on cash deposits 594,269 1,642,026 1,300,782 1,379,063 32,995 2,389 2L),313 2,256,608 2,715,229 57
Royal Cominission for the Exhibition of 1851 Nntes to the Financial Statements foi the Yeal Ended .31 Deceml)er 2021 6. OTHER INCOME 2021 2020 Licencc iiicom¢ 58 925 58 925 7. COST OF RAISING FUNDS 2021 2020 Ijivesttnent maiiageinent fees Pi'oper¢y nianagement fees Legal fees Provisions Allocatcd supi)ori costs (note I I I 549,091 33,130 8,226 507,244 66,434 60,255 53,436 53,098 643,883 740,364 8. CHARITABLE ACTIVITIES Allocated Dll'ect support Grants costs Costs (note 91 (note 101 (note 111 2021 2020 Fellowships and studentship.s S'I'LM educatioii and outreach Support foi. legFacy esrare Ar¢hiYes and alumni relations 3,554,841 126,189 15S,612 3,839,642 3,245,516 199,839 72,814 59,831 332,484 410,790 195,700 38,819 59,832 294,351 1,425,547 11,5931 11,683 62,075 72,165 96,808 3,948,787 249,.50.5 340,.350 4,538,642 5,178,661 58
Royal Commission for rhe Exhibition of 1851 Notes to tlie Financial Statements for the Year Ended 31 December 2021 9. GRANfs AWARDED (a) Féll(JwsbiPs und studeKtsbiPs 2021 2021 2020 2020 REsEarch Fellowsliips Industrial Fellowships Industrial Design Studentships Built F.nvironment Fellowship Design bellowship F,ntei'prise Trellow.%hips Great Exhihition Scholarship% Sir Misha Blaclc Awards Bursaries io 13 li 1,490,400 1,16.5,435 466,506 loo,000 io io io 1,707,647 494,9Y2 412,192 90,000 312,500 19,0001 312,500 20,000 Total fellowships and studentships 43 3,554,841 36 3,008,321 All of the fellowships and studentsliips were awarded to individuals. The Annu21 Report ncliides more infDrm2tion on rhc awards granted, inLluding where relevant details of cach OE tlie institutions at which individual recipicnts are carrying out theiv studies I research, 59
Royal Cominission for the Exhibition of 1851 Notes to the Financial Statements for the Year Ended 31 Decembei 2021 GRANTS AWARDED Icoiitinuedl (b) STEM education ando#tredcb 2021 2020 EDT- Virtlial STEM work expelience Royal Society OE Chemistry- Steps into Science National Literacy Trii.si- I.inl<ing literacy aiid STEM cai'eers EducAtion and Tiaining Foundatioii- TecliiiiLal Teachiii ellowsliips Wellington Trust- Futiii'e maritime engineei's Kids Iiivciit Stuff- Miiii You l.ube STEM iniisical All l)arty Parliamentary EngineLriiig Group- Meeting spon8nrship STEM Leariiiiig- Involving 1851 Fellows in priniary STEM oucreach SmartSTEMs- Digital portal Rutli Moutitfoid- Tliey Made It podcasts unICTd8 Radio- How's That ade. Pliysics Partners- Physics videos Primary Engtneer- L¢adeLs award podcasts In2ScienceUK- Engineei'iiig iese£irch module l Alumni programme RedR UK- EnLYineeriiibF emergeiicies Luiidon Transport Museum- Engineering yollr litghbourhood Ci'anficld Univci'sity~ National flyiii% laboi'atory ceiiti'e 10,186 15,000 18,6411 112,500 15,460 5,000 5,000 14,87.5 14,850 5,000 10,000 9,800 10,160 7,1150 14,750 5,000 20,602 197,000 204,519 14,6801 287,162 11,9521 Less.. Past aw2Lds Wfltt¢ii back where not utilised in full 199,839 285,210 All of the STEM education <ind outieach grants were awarded to institutions12020: all of the STEM education and outreach grants were awarded to institiitions except for one awarded to an individuall. 60
Royal Commission for tlie Exhibition of 1851 Notes to the Financial St8tements for the YeaL Ended 31 December 2021 9. GRANTS AWARDED Icontinuedl (c) Supportfor legacy estate 2021 2020 Royal Gcngraphical Saciety- UpgiLadiii£ I ICensii)gton Gore Royal College OE Art- The cinpathetic engineer Royal Albelt Hall- l)ublic realm project National Railway Museum-I'he Great MaLhine Exhibition RoAd Cultui'e Group- Soiith Ken5ingtoii Greeii Trail I Covid Ciilture Shock event 155,200 13,500 1,225,OOa 105,050 30,000 2,500 198,700 13,0001 1,.332,550 Less.. Past awards wlitten back whei'e not utilised in full 195,700 1,332,550 All of rhe grants in support of the legacy estate in borh 2021 and 2020 wcre 2warded to institutiong. (d) Ar¢btves and dlttmni relations 2021 2020 University of Oxford- Digitising Albelt Royal Collection Trust- Queen's Biiidely Apprenticeship ScELeme 26,500 1,500 28,000 16,7021 Less.. Past awards written back whei'e not lltilised in full 11,5931 11,5931 21,298 All of the grants in siipport of arclihves ai)d alurnni relations in 2021 and 2020 were awarded to iiistitutions. It) total, 12 grants were made to iiistitutiOn5 and 43 to individuals12020.. 13 grants to institiitions and 37 to individLialsl. 61
Royal Commission for the Exhibition of 1851 Notes to the Financial Statements for the Yeai. Ended 31 Decenibel 2021 10. DIREcf COSTS fry *rry¢xto vo r4oththco I I I co rry Cn 62
Royal Commission foi the Exhibition of 1851 Notes to the Financial Statements for the Year Ended 31 DeLembei 2021 11. SUPPORT COSTS 41 QI 044 io¢neo r4wr4J 41 rs1 cooe0 kDONCn r4c4- 4rNKDr4 63
Royal Commlssion for rhe Exhibition of 1851 Notes to the Financial Stateinents fol the Yeal Ended 31 December 2021 12. GOVERNANCE COSTS 202J 2020 Audit fees linclLiding VATI Cui'lent yeal Prior year under I love¥) accLual ActLiafi21 fee5 Aiiiiual report MLcting cost.% Coniinissioiier recruitment costs 11,000 480 1,800 1,801 13,242 10,200 iiooi 1,900 769 190 34,560 28,323 47,519 13. STAFF COSTS AND RELATED PARTY TRANSACTIONS 2021 2020 Salai'ie.8 liiicluding beiiefits in kindl Employeis Nl Pension contril)utions .St2Ff rcci-uitment Ti'ainiiig and developtnent 232,682 21,874 25,649 2,956 854 221,203 20,330 30,148 862 284,015 272,543 The average nujnber of empluyees duLing tlie yeaj. analysed by function w25: 2021 2020 Slipport and administi'ation ArLhive The fLIII time equivalent nuinber of etnployees during the yeai. analysed by function was: 2021 2020 N(). Siipp(Jrt and administration Ai'chive 64
Royal Commission for rhe Exhibition of 1851 Notes to the Financial Statements for the Year Ended 31 December 2021 13. STAFF COSTS AND RELATED PARTY TIIANSACTIONS Icoiitinuedl One employee earned between £IOO,000 and £1 10,00012020: one etnployee earned between £90,000 and £1 00,0001. No PLnsion contributioiis were paid in respect of this employee12020: no pension contributions wcre paid in respect of this employee). Coininis.%ioners do not receive remunLI'ltiot]. DuLiiibT the year re-imbursemeiits were made t five C()Inmissionei's in respect lif ti'avelling and oth¢i' expenses c(Trtalling £1,51212020.. to two Commissioneis totalling £6011. The total amount paid in Lespect of key tnglnagement pei'sonnel li.e., the Secretary and Finance Director), includinbT cmpl()yer's national insuraiice aiid employei. pension contributions, was £180,23612020: £175,003). There were no other relared party transacikons during the yeai12020: none). 14. PENSIONS AND OTHER LONG-TERM EMPLOYEE BENEFrrs All current and new membei-s of staff are eligible to join a personal pension scheme of their choice with the G)mmission Lontributing 15 /0 of salary12020.. 15 % OF salary). There is no requiremcnt for emi)loyee c()ntLibucions. StafE may opt co saci'ifiLe sunie of tlieiL salai'y in I'ctt]i'n for an additioi)al employer contrihlltion. Employer contrihutions of £25,64912020- £30,148) were made in the year OF whiLh £78112020.. £mill were oiitstanding at the year-end. There were no prepaid contribiitions at thc ye2r-end12020: £nill. All cui'i'ent and new membei's of staff 2150 benefit Eii)ni an unfunded l uninsured death in service scheme linder which tli¢ Commissioners lat their 21)solufe disLretionl Inay pay a numinated beneficiary & lunip suiii equivalent io 18 nionths, salai'y il an employee dies wliilt employed by the Commissioii. Nn liability for the scheme is recogFiiised in the accounts as Coi)Imissioners do i)ot believe theLe is any sensible way ro estin]at¢ the liability. Actiiai'ial c.Ilcularions based on assuinptions Lomparable tu those used in V<2luing the defined henefit pension liahility l.see below) suggest that any liability in respec¢ of tlie deatli in scfviLe Scheme would in any case be iniin2teriAI. All current and new memliers of sttiEE also bet)efit fi'om a Group liicome Piotection policy witli Canada Life which covers basic salary aiid pension contril)ution.4 fnr staff unable tv work diie to long term illness. The Commission opeLates an iinfuiided pension scheme in the UK Ithe'schctne'l, The Scheme is an uni'egi5tci'td, non-coniiibLltory defined beiiefit schen1e. As tlie Schcnie 15 iinfunded, no conri'il)iiiions are paid by the Commission, OElicr tlirlll t() Ineei benefiis as tliey f.111 diie. As no triennial v21iiations are cariied OLIt, a valuation is carried out c1t the balance sheet dat¢ each yeir l)y in independenc qualified aciu1< I'y. The SLlieiiie was closed to new niembers on 14 July 2004. As at 31 December 2021, all six I'cmainiiig members of the Scheiiie al'e receivii)g a peiisioii aiid tliere is no furth¢i' accrLial of beiiefits. Thei'e is rliei'efoi'e no sei'vice co8t foi. tlie yeal. Tlic ainc)unt iecogiiised in aLLivinbY at net expenditure fol tlie yeal is an cxpelise of £5,34312020.. £8,202) which is fully in respect of net inrcrcst on the net liabiliry. 65
Royal Commission for the Exhibition of 1851 Notes to the Financial Statements foi the Year Ended .31 Deceinber 2021 14. PENSIONS AND OTHER LONG-TERM EMPLOYEE BENEFITS Icontinuedl As ieuTards the uiifunded, defined l)enefit i)ensioi) sclieme: TlJePY£nciPalassuJnPtioiis used by the actuary were.. FRS102 Valuation 2021 l°/a p.a.) FRS102 Valuation 202U FiJtana4lassuNtPtions Gross investnienr Leturn In-service members Pre-retireJii¢iit Posr-retirement Current pensioners Pensionable cariiiiigs increases l)rice inflJti()n Pension incre2ses Allowance for administration expenses Demiograpbic assuinptioiis Mortality Pre-rerirem¢nt P05t-retirement NIA NIA 1.9/. NIA 3.6 /0 3.6Yo 0.0 /. NIA NIA 1.4 /. NIA 3.0/ 3.0/, 0.0 /0 NIA S3PA C.M1202C) i /. NIA S3PA CM12019 1 % No allowance No allowance 90/. 3 year5 youI)ger 3 year5 younger than hu81?aiid than husband The assLimp¢inns used by the actuary are best estiiiiates ch05cn fi'oiii a range uf p055ible actuarial aSsumptioI which, due to tlie rimescale covered, Inay nnt neccs5ai.ily be borne oiit in practice. Withdi'awal allowance Early retirement allowaiice l)ruporrion mariied Wile's age No allowance No allowance 90/. Value ofscheiiie assets axd Itdbilities.. 2021 2020 Malket value of Sch¢me assets Present value of .Schem¢ liabilities 1399,0001 1425,0001 Siheine cleficit Related deEei'i'ed tax asset 1399,OQQl 1425,0001 Net liability 1399,OQOI 1425,0001 66
Royal Commission for the Exhibition of 1851 Notes to the l-inancial Statements foL the YeaL Ended 31 Decembei 2021 14. PENSIONS AND OTHER LONG-TERM EMPLOYEE BENEFITS Icontinuedl Movethents in the year.. 2021 2020 Sclitnic deficit at l)cginning of year Ciirleiit selvice cr)st Interest nn obligatinn Actuarial loss on li2bilities BLnefits paid direLtly by eiTJployei' 1425,0001 1427,0001 1.5,34.31 13,4321 34,775 18,2021 123,6261 33,828 Scheme deficit at end oFyear 1399,0001 1425,0001 The interest on ohligarion of £5,34312020: £8,202> 15 disclosed within Siipport cnsts Innre 111 while the actuarial loss on lial)ilitics of £3,43212020: £23,626> is disclosed witliin Other recognised gains and losses on the face of the SOFA. 15. vEsTmENT PROPERTIES AND OPERATING LEASES 2021 2020 lal Mnvememts In value ofinvestmentproperties Balance ac l January 521es dLII'ing the year Uniealised gain on yeaT-cnd revaluation 23,.345,382 13,680,032) 1,275,000 21,370,300 1,975,082 Valuation at 31 December 20,940,350 23,345,38Z The valuation as at 31 December 2021 shown abTrve resulted from a full revaluatiun of the pi'operties ar 31 DLcember 2019, Liiideiralcen by CILlttons LLP, Chartered Siii'veyc)rs and l)roperty Consiiltants. Thc v2lL12rinn was carried our on an open niailcct value basis in accordaiice with the RICS Appr2isal and ValLia¢ion Manual and is based ()n existing usa¥e 2nd occupation of the land, and rhe dui'ation of leases at bTround and rack rents. In reacliing tlie 31 December 2021 valiiation, the valiie at 31 Dccember 2019 Ilas beeii adjiisted, based on advice from Daniel Watney LLI), to take into account movements in local propcrty market indices, chan2e8 in estifflated iental valiies, tlie deci'easing length of leases and lease extensioii I leaschold enfranchisement claiin5 Leceived. All of the investinent Ploperties alc loc.?ted in thc IJIC. 67
Royal Commission for the Exliibition of 1851 Notes to the Financial 5tatement5 foi tlie Yeai. Ended 31 Deceinbel 2021 15. INVESTMENT PROPERTIES AND OPERATING LEASES Icontinuedl Ibl OPe)atiiig leases- lessor The Commissii)n is ei)titled as laiidlord to incoine from investment pi'opcrties iindej. operating leases. Truture Ininimum lease payinents unde¥ iion-cxncellablc operating leases, disiounted foi. inflation, for eaLh of Ihe following pei'iods are as follows: 2021 2020 Not later dian one year Lacei. tl)an one yeai- And noi latel than fivc years Later than fiv¢ yeai's 94,538 175,788 9,800,137 9,996,587 9,894,675 10,172,375 The Coinmission's investment pi'operties arc let for peiiods Laiiginbr up tv 999 years. All leases are oil full rcpairing and i115ULiiig terjiis. Leases of I'esidenti21 pi'operty are pntentially subject to leaseliold enfi'anchiscment. rl)i.8 lia.% been igni)a-ed in ari'ivii)g at tlie abuve fibFures. 16. INVESTMENTS 2021 2020 lal Movements lit listed iiivestmeitts Mark¢t value l Jaiiuai'y Acquisitions at cost Dispusals at carrying valuc Net gains on revaliiation 119,307,960 20,645,106 115,820,788) 8,891,017 110,771,099 58,063,652 152.976,7671 3,449,976 Mai'ket value 31 Deccmber 133,023,295 119,307,960 Value at C05t 31 December 94,413,971 89,589,653 Ibl Geogyaplyic breakdown 2021 2021 2020 2020 Listed investincnrs Listed investjnents ca.sh Cash In tlie UK OLlt5ide the UK 64,605,641 68,417,654 1,501,1112 61,560,772 57,747,188 902,632 114,1167 133,023,295 1,501,182 119,307,960 1,017,499 All investments al'e listed oil a rccognised stock exchange. There were no individiial holdings the mai'ket valiie of whicli is considered to bc illaterial in tlie coiltext of the pi)rtfolio as a whole. 68
Royal Commission for the Exhibition of 1851 Notes to tlie Financial Statements Eor the Year Ended 31 December 2021 17. DEBTORS 2021 2020 Rents receivable iii hand.% of SULveyors in arrears 36,978 318,667 250,079 822,536 355,645 1,072,615 Oth¢r debtors Prepaymeiirs AccrL]ed income 9,844 28,871 10,469 8,585 26,655 33,000 404,829 1,140,855 18. CREDITORS 2021 2020 Amounts falling due within one year Grants payable Other creditors 3,895,445 175,346 4,418,49C7 162,388 4,070,791 4,580,884 2021 2020 Analysis of othei. creditois Iiivcstmeiit management fees Propeity nianagement fees Audit fees Othel Icgal aiid PLofessional fecs OtlieLS 106,558 19,733 i 1,000 9,309 28,746 131,814 5,700 10,200 3,400 11,274 175,346 162,388 69
Royal Commission for the Exhibition of 1851 Notes to the Financial Statements foi the Ye2L Ended 31 Decembei 2021 18. CREDITORS Icoiitinuedl 2021 2020 Amounts falling due after more than one ycar G¥ants payable 2,948,094 2,78.3,602 Due in one tn two years Due witliin two to five years 2,040,027 908,067 1,821,110 962,492 2,948,094 2,783,602 The analy.sis of grants i)ayable by awaLd is as follows Period of commitment 2021 2020 Award Fellowsliips and 8tudent.5hips Rescaj'cl) Fellowsliips Iiidu5trial F'ellowships Indts.%trial Design Studentship iiilt Environment Trellowsliips DesigTn IellOw$hIpS Entcrpri%e Fellow.ships SIL Mish2 Black Award Bursarie5 S'I'EM education and OLTrtread) Support for legacy egtate Ai-chives and alllmni Lclatioiis 3 years 3 ycars 2 year5 2 years 2years l year l year l year 3 years l year 3,130,514 2,128,343 428,850 122,807 i 10.000 125,000 11,000 171,775 615,250 3,099,479 339,645 58,402 142,500 187,-500 342,932 1,410,050 26,500 6,843,539 7,202,098 19. FINANCIAL INSTRUMENTS 2021 2020 Catyying amount of fin1 ncial assets Debr instruments nieasured at anioi'tised cost Idebtors excluding prepayiiientsl 37.5,958 1,114,200 375,958 1,114,200 Cart'ying Amount of finaiicial liabilities Measuled at amortised cost 7,018.885 7,364,486 7,018,885 7,364,486 70
Royal Commission for the Exhibition of 1851 Notes to the Fiiiancial Statenient.s for the Year Ended 31 December 2021 20. FUNDS 71
Administiative Information Strucrure, Governance and Management The Commissioii is coiisrituted as a liinited company incorporarcd by Royal CharteL. Its governiiig documents are rhe oi'iginal Charter dated 3 JanuaLy 1850 and a Supplemental Charter dated 2 Decemhcr 1851. The commis.sion Inay have up to twclve trii.%te¢s, known as Royal Cotninissioners, ar any one time, who togethei. coiistitiite the Iloard OE ManagFement, wliich tneet.% fni'mally twice a year. Commi5sioiiers ale Lhosen to brin¥ wide experience in ai'eas relevant tu the Coinmission's work- scieiice. eilbFiiieei'ing, industl'yy design, at'cliitccture and finince. To niaintaiii an ppl'apriaie balance of skills, commi5sioiieLS normally serve foi. 10 years, and commi8sioiiers themselves identify possible SUCLessor5, who may %crve on a committee prior to ¢lcctioii. Following election by the Board of Manclgement, Commissioners al'e only appoiiited witli the appi'oval of the President. All other comiiiittee8 arc advisory in remit, are suboJ.dinate to the B021'd of imaiiagement and repnrt to it, and all committee Cliairmcn.Ire Cummissioiieis. Ad hoc comniittees may bc Eoi-med fnr liinited i)eLiod.s aiid sp£cific purposes. Any comiiiittee other rhan the Boai'd of Manaseinent niay liave non- Commi55ioneLs as mcmbers subject to the wishes af the Chairiiian OF that eominirtee. All committees, exceptad hoc committee%, Ineet at le2c St once annually. All Lommittees are qerviced by tlie Secretary and, wheLe appropriate, by the Finance Director. Tlie Secretaty also provides full bi'iefing aiid iiiduction prograinmes for all new CominissioneLS and cojiiinittee iiienibei's wl)eii appointed. As part nf this introductinn Commissioiiei's art p¥o)vided with a Govei'iiaiice B()ol< concaining fiill details of tlie Co21I111issiun's historyy I'ole, straregy) procedures and Commissioners, responsibilities, as well as the i'elevant Chaliry C,ommis5ion guidaiice FOL trustees. During their tenure, further opporrui)itie8 for Commi8sioiier8 to develop theil knuwledgFe of areas relevaiit to the Commission's activitlcs 21'e PLovid¢d as appLopriate. Day to day i'unning of the Commission is delegated to the Secretary> assisred by 2 sniall staff team. Matters of stratcgytr and all gi'ants greater tlian £5,000, ale decided by Cotnmissioners. ull details of Commissioners and Committee mcnibers in post diiring the yeai., as well as the Small staff team, ai'c pi'oyidcd on pages 74 to 76. Details of tlie Commission's professioiial advisers are provided oi) pabFc 77. Remuneration Commissioiiei's are Jior Lemunerated sn Iheir Lole as trts.gr¢es of tlie cl)2rity aiid do not Le£tive bei)efits othei than reimbursement of expenses incL]rred in attending meetiiigs. In ordel to inaxiinise fiiiids available foi. grant makinbj commissioner.s are detertnined to keep staff nun)l)ei3 and anCIaled office co8t8 to a miniinuin. To £?tti'aci aiid i'etain expei'ieiiied stafF OF Ihe I'iglit calibrc, howevei., C.omn)issioiieLs recoLFlli5e thc iieed to set salaries in line with those foi. othcr grant- niaking cliaiities iii the Londoii area, based on sector beiiLhmarks and orher publicly available data. Salai'ies Eoj. all stafl, iiicliiding key manageiiieiit peisottnel, are reviewed aiinu1< Ily by th¢ Chairman of the Boai'd and the Chairnian of the Fiiiancc Committee as part OE rhe performaticc appraisal process. Pay awards are dependent on perforn1211ce and sct basecl oil iiici'eases iii the cost o)f living and avLrage salary increases foL tlie s¢ctoi'. Tliei'e are iio automatic increments and no bonus sc11eme. Commissioneis recogiiise tlie iinportance of helping employees make adequate Plovision Eor retireineiit. All employees al'e thei'efure eliLiible cu i'eceive a 15 /0 eiiiployer pensioii cnntril)utioii to the pensioi) sLhcnic establislied foi. auto-enrolmenr piirposes or a personal pension of theii. clioice. All eniplnyees alsn l)enefit fi-nin a Gi-nLlP Incoiiie Pi'ottction poliiy rli.1t will ¢()vei' l)asii salai'y and pciisioii coiitiibutioiis if they are uiiable to wolk due to lon¥-term illness. Ar their absoliite discretion,
Commis5Loners inay pay a nominarcd l)eneficiary a luinp 5Utn equiyslent ca 18 months, salary if employce dies while employecl by the Commission. All employees are also cIititled to an interest free seasoTh tiiket loan. All of the al?ove benLfits ale availablt to all eniployee5, includinb¥ key tnanageinent personnel. Etnployees do not i'eccivc ttny ocher benefits. Rislc P()licy In discharging tlieir responsibilities for the tnanagFetnent of rLSk, it is the pcjlicy of the Commi88ioners to idcntify, analyse and seelc to maiiage any i'isks ro the ability i)f the Cummissioji tu carl'y out its role effeLtively and meet tlie obligatinns of its Royal Cliarter. To this effect the Coniniissioner5 have given consideration to thc major risks to which the Loniniission is, or may be, expoSLd. A full risk register has been drawn up, which is reviewed regularly. InsLif2nce blOkeL havc been appainred to advise oli aieas wliere risk can be effectively mitigatcd through insurance. Compliance risks are mitigated through talcingF and Eollowing appropriate profcgsional advice. The main remaining areas of strategic and operational risk and thc gteps talittn to address tliem are summari5ed below. Actions taken to mitigFate the impact ¢Jf COVID-19 ai'c described on page 11 above. Jnvestpttg)Its.' seGMt'ity, PerforngL711ce, liqiiidity Tlie Comini88ion has a divei'sified i)oirEolii), botl) iii tei'ms of inve8tments held 2nd managei's appoiiited, It has adopted invcstment 1£ lid disbursemenr policies designed to maintain tlie real valuc i)f the poi'tfolio ovei. time ai)d heiice the 8ui)i)()i't availal)le to cui'i'ent aLid Eutiire benefickSLies. Sufficient liquidsty is licld ()utside the pui'ifolio to meer sliort term coiiimitmenr%. C.ommiSSiULiers have delegated i'evicw of invcstnient performance 10 a Finaiice Coiiimittee complising individL)als with relev2nr expeLtise. Graiit iitaking.. applicatiotzs, assessmejtt, ad#iinistrlltioii c0mIssIon£rS have appointed specialisr committees to review fellowship applications, woi'k clijsely with other organisation5 active in the STEM ar¢n2 ro avoid unnece5sai'y duplication or administrative effoi't and have appointed a cummuiiicatsons company to Ic SSl%t with marlLeting of the awai'ds to ensui'e they al'e l)roughr to the atteniion of eligible recipients. Commissioners regiil<1rly seek feedback from potei)tial applicants 2nd other stalceholders ro ensure the awards Lemaiii i'elevant. LLgacy estate.. cb&ra¢tei' expei'ieitce, relevuitLe Coinmissioners take an active ii)terest in rhe estate, seek to facilitate relevant initiativeg across legacy iiistitutioiis and pi'ovide financial.%upporc where possible to ensure tlie estate i'einains 2 beacon nf excelleiice and inspilation iii tlic wurlds of science, engineering and design. 73
Cominissioners and Committee Meinbers President HRH The Priiicess Roy21 Commissioners land Boaid of Management) ML Beinard laylor CBE DL FRSC Chnirnlan, Board of Management Praf¢ssor,lini Al-l<l)alili CBE PRS Flnstl) Professor Daine Icay Davies DBF. FRS FNSed.Sci Professor DamL Ann Dnwling OM D14L FIIEn¥ bKS Mr Jiiii Lyrc OBE Professor Sir Andrew Hopper C.RE FR.$ FREng FIET Professoi L()i.d Mail- CBE HonDSc bREnb FICE DRS Dame Alison Nimmo DBE MRI'PI FRILS HoiiFRIBA FIC,E Ms Sandra R()hcrtson Professor Dame Carol Rohinson DBb. fRS FRSC limedsci Professor c.hris Wise RDI FREng FICE MIStLuctE HoiiFRIBA FR.SA Profe5501' Jim Al-Khalili was appointed to the Board on 8 Decembei 2021 Professoi. Dame c.arol Robinson was appoinred ¢0 tlie Board on 7 Jiily 2021 Sii. William Casrell retii'Ld from the Board (Trn 7.Tuly 2021 Mr Stuart Coi'byn retired from the Boaid on 7 July 2021 Sir,lolin O'Reilly retired Eiom the Board on 8 Decenil)er 2021 Ex Officio Commissioneis Tlie Lord President of the Cguiicil The First Lord of the Treasury The Chancellor of the Exchequ¢r 'rhe Secretary nf State Eoi. Bu.%iiiess, Enei'8y and Indusrri21 Strategy The Secretary of State for t11e Enviroiiinent, Food and Rural Affairs 'I'he l)resident of the Institiition of Civil Engiiieers The President of the Gcologiial Society Fiiiance Committee Ms Sandra Robertsnn Cl?aii'iitan M.% Slc rah Arkle Professor Sir Andrew Hoppei. CISE FIIS FREng FIET r Nicliolas M()akes CFA Daine Alisoii Niminn DRF. MRTPI FIIICS l-loiiblllBA FICE Sii. Williani Castell ietired fr()Tn tlie Committec on 7 Jiily 2021 Mr,Stuai'r Coi'byn I'ctired from tlie Coniiiiittce 011 7 July 2021 74
ScienLe and Engineering Fellowships Committee l)rofcssor Dame Kay Davies DBE FRS FMedSci Chairinayi Professor Jijii Al-Kh2lili CBE Flis FInstP Professor Gillian Bates FRS Fmcdsci Professor imike Benton blls bRSE Prufessor Martin Bi'idson FRS Professor Ai)dLeW Bi'iggs Professor Neil Cliampness FRSC FLSW Professor Ajiiie Dell CISE FR£ FMcd.Sci Pr(Ifessur Johii Dewey Flls Professoi Cyi'il HilsL]m C.BE bREngtr TrRS PLofes50r Patrick Iceogh FREng Professoi. Jaile Laiigdale CBEIRs Piofe.%sor.Stcphen Miiggletoi) TrREng ProFe5sor RaLliel O'Reilly FRSC. Professor Sheena Radford OBE bRS l-.McdSci Professor Dame Carol Robinson DBE FRS FRSC FIMedSci DrDame FianLesSauiideLS DBE C.B FREngFlnsrP Profe5snr Trevoir Stiiait FIL TrIIS Professor Christnpher Tout l)rofessor Stuart West Pi'ofes50r Johnwuod CBE bREng Professor Jim Al-IChalili was appointed to tlic Committce on 8 Dccember 2021 ljrofesgor l)atrick Kcogh was appointed tu the Coillmittee on 30 April 2021 l)rofessor Dattle Carol Kubinson was appointed to the Committee on 7 July 2021 Di Dame France5 Sallnders was appoiiittd to tlie Committee nn 21 July 2021 l)rofessur Chiistoplier Tout WAS £lppoinred to the Commsttee 25 June 2021 Pi'ofessor Stuart West was appoiiited to the c.ommittee 011 28 Apiil 2021 Piofessoi David Ewins rerired fLOllI tlic Committee on 27 April 2021 Professor Jaiiies Feast retired fl'am th¢ Committee uii l Janiiary 2021 Professor Douglas Gough retired Frotn the C,ommitree on 27 April 2021 Professor Maurice Sliolniclc rerired from tlie Cuinmittce on 27 Ai)ril 2021 Brunel kiellowships Sub-committee Professor Danie lcay Davies DBF. FRS Fmedsci Cthaii'n7dn Professor Dame Anne Dowlinx OMD14E FREng FRS Professol David Ewins DSC bREng FRS Professor William Powrie FREn% FICB Profess()r Johii Wood CBE FIIEI)g Industry and Engineeiing Coinmittee Professor Dame Ann Dowling OM DBEFR.S FREng Chairmttii l)rofcs4(Trr John Cliilcson FRLng Ms Naonii Clinier CBE FREng blET DL Nicholas de Leon Pi'ofessorLnrd Mair LISE HonDSc FREiig FICE FRS Professor Ron Pctliig Dr Malcoliii Skinglc CBE DSC Pi'nfessor Eleinor Stride OklE Sir John O'Reilly Letired fiom the Committee on 8 Deccml)eL 2021 75
Built Environment aiid Design Fellowships Committee Mr Ji2v F.yre OBF, Chai7'111all l)rofessoi. Racl)el Cooper QBE Dame Alison Nifftmo DBF. MRTPI FRICS Hol)EIllA liICE Dr Andrea Siodniolc b.Ml)I) FIISA HonDCL Professor Chi'is Wise RDI liREliL FICE MIStruccE HonFRIBA bRSA Mr Robin Levien retired from the Cominirtee on l January 2021 Sir Misha Black Awards Committee Ms Mary Mulliii Cl7airMan Professor Chris Wisc RDI FREnB FICE MIStrllctE HonFRIBA FRSA l)i'ofessor PereL C;hilds Di. Nicho12s de l.eoii Professor Sii. Chri8topli¢r Frayliiig FCSD FRSA FRIBA Professoi- MalL()Iin Garrett MBE RDJ FISTD Professor Geoff Kii'k RDI fREng Staff Mr Nigel Willianis LVO CEiig Mr Jolin Lavery MJ. Amahl Smith ACA Mrs Helcn Hari'is Mi's Angcla Kenny RMARA M5 Icat O'Dea Seci'etaiy (to 25 May 20221 5tcr£tai'y (from 25 May 20221 Fi112nc¢ Director Fellowship Programme Manager Archivist and Aluiiiiii Relations Office ManaLFei' l Executive Assistanc 76
Professional Adviseis Investment Managers Sehroder ei Co. Limited l London Wall Place London EC2Y SAU Bankers The Royal Bank of Scotland plc London Driiiniiionds IBI Bi'ancli 49 Charing Cross London,SWIA 2DX Surveyors Daniel Watney LLP 165 Fleet Sti'eet London c4A 2DW Charles Stanley k Co. l.td 55 Bishopsgate London EC2N 3AS Aiiditor Moore KinbfStun Smith LLP 9 App()Id Street l.ondon EC2A 2AP JP Morgan Asset Maiiagcmcnt IUKI Ltd 20 Finsbury StrL'et London EC2Y 9AQ Actuaries Insuic1nce Brokers XPS Pen.%ions Albioii Fishponds Road Wokingham RG412QE Aston L,Irlc Ltd 9th Floor, Colm2n House Icing Stieet Maidstonc Kent ME14 IDN Legal Advisers Farrer & Cn Ll.P 66 Liiicolii's ljiii Fields London WC2A 3LH
Roy¢l1 Commission foi. the Exliil)ition of 1851 45.3 51icrficld Biiilding Li)ndnii £IV7 2A7 Tejeplione.. 020 7594 8790 Fax.. 020 7594 $794 ¢-i?iail.. i'oyaltoin1851Cq)iinperi:Il.ac.uk web5itt.' www,royiglconiinissioll1851.oiE Linkedlii.. hrrp5'.Illinkcdin.coin/complc ny/royalcoim18.51 twittei.. lirrps..Iliwittei-.coiiJlruyalcoiiil851 insragrajn. littpsJlinstagi'am.coinlroyalcom185J 78