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2020-12-31-accounts

ADVANCING UNDERSTANDING

Annual Report & Financial Statements 2020

ANNUAL REPORT & FINANCIAL STATEMENTS 1

Patron

Her Majesty the Queen

Trustees

Council members who served during 2020:

Prof. Emma Bunce (President-Elect until June 2020, President, G, from June 2020, University of Leicester)

Prof. Mike Cruise (President, A, until June 2020, University of Birmingham)

Prof. Mahesh Anand (Vice-President, G, Open University)

Dr Megan Argo (Councillor, A, until June 2020, Vice-President, A, from June 2020, University of Central Lancashire)

Dr Mandy Bailey (Secretary, A, Open University)

Dr Nigel M Berman (Treasurer, A)

Prof. William Chaplin (Councillor, G, University of Birmingham)

Senior staff

Executive Director: Philip Diamond Deputy Executive Director: Dr Robert Massey

Registered and Principal Office

Burlington House Piccadilly London W1J 0BQ

Charity registration number 226545

Auditor

Buzzacott LLP 130 Wood Street London EC2V 6DL

Prof. Phil Charles (Councillor, A, from June 2020, University of Southampton)

Dr Hannah Dalgleish (Councillor, A, from June 2020,

University of Oxford/University of Namibia)

Dr Paul Daniels (Vice-President, A)

Prof. Lyndsay Fletcher (Senior Secretary, G, University of Glasgow)

Dr Claire Foullon (Councillor, G, University of Exeter)

Dr Stacey Habergham-Mawson (Vice-President, A, until June 2020, Liverpool John Moores)

Prof. Lorraine Hanlon (Councillor, A, University College Dublin)

Kevin Kilburn (Councillor, A)

Prof. Mark Lester (Secretary, G, University of Leicester)

Martin Lunn (Councillor, A)

Dr Jane MacArthur (Councillor, G, University of Manchester)

Dr Matthew Middleton (Councillor, A, University of Southampton)

Prof. Steven Miller (Councillor, G, until June 2020, Vice-President, G, from June 2020, University College London)

Dr Arvind Parmar (Councillor, A, from June 2020, ESA)

Dr Colin Snodgrass (Councillor, G, from June 2020, University of Edinburgh)

Dr Sheona Urquhart (Councillor, A, Open University)

Dr Indhu Varatharajan (Councillor, G, until June 2020, German Aerospace Center, Berlin)

Bankers

HSBC Bank plc West End Corporate Banking Centre 70 Pall Mall London SW1Y 5EZ

National Westminster Bank St James’ & Piccadilly Branch PO Box 2 DG 208 Piccadilly London SWJ 9HE

Investment managers

Newton Investment Management Ltd The Bank of New York Mellon Centre 160 Queen Victoria Street London EC4V 4LA

Solicitors

Bristows 3 Lincoln’s Inn Fields London WC2A 3AA

Dr Clare Watt (Councillor, G, until June 2020, University of Reading)

Prof. Anton Ziolkowski (Vice-President, G, until June 2020, University of Edinburgh)

● Note: “A” signifies all areas of astronomy and astrophysics; “G” covers geophysics, solar–terrestrial physics and planetary sciences

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Contents

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||| |---|---| |Astronomy for Beginners|4| |From Our President|5| |2020: Our Bicentenary|6| |Objectives|8| |Advancing Understanding|9| |Sharing Knowledge|15| |Our Organisation|19| |Looking Forward|21| |Structure, Governance and Management|23| |Financial Statements|26|

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COVER IMAGE A mosaic of Viking Orbiter images of Mars showing the 2000 km long Valles Marineris system. Mars was the focus of National Astronomy Week 2020, supported by the RAS. (NASA/JPL-Caltech)

NEXT PAGE The Milky Way, zodiacal light and airglow from Chile. (ESO/B Tafreshi twanight.org)

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ADVANCING UNDERSTANDING
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Astronomy for Beginners

Simon Armitage

You were eight and fishing for planets and stars, slopping a bucket of rain into the back yard. You were waiting for cloudless dark, expecting the pinpoint reflections of Rigil Kentaurus or Mars to crystallise under your nose, or a constellation – whole and in tact – to glaze the surface

like a web of frost. Or what if the Moon grew hard and dense in the water’s depths like some knuckle of dinosaur bone – you’d need a landing net. But only Polaris proved itself in the liquid lens, then dissolved when you lifted it out on your fingertip.

A Russian telescope didn’t help: some camera obscura inside the tube flipped the map of the galaxy upside down; in the peephole eyepiece, families dangled from ceilings like bats, and sheep hung from green clouds by their hooves. You were thirty by now.

Tired of the stake-out, tired of panning for sunspots and fool’s gold you traded starlight for bird life, birds with their costumes and songs and shows. Once, in a shoulder of sand on Windermere’s west shore, a dunnock curtsied while eating bread from your open hand.

Old brightnesses, old loves. And now you’re scanning again for omens and signs, apple bobbing for hyper giants and white dwarves, calling down deep space onto a blank page, trawling for angels and black holes with a glass jar, knowing we’re dying, knowing we’ll never make it that far.

Where did that tin of luminous stickers go? And the solar system mobile spinning on near-invisible thread? When she left home you crashed out on your daughter’s bed and woke in a Navajo cave, a remote language of light coming steadily into creation overhead.

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From Our President

Our Annual Report for 2020 is an opportunity to reflect on this exceptional year and outline some plans for the future. The Covid-19 pandemic changed every aspect of our lives during 2020, and it seems likely to continue to affect our daily lives for some time to come. During the first national lockdown last March, the RAS had to react quickly, not only closing Burlington House and providing for staff to work from home, but also regarding our meetings, including Council and, sadly, our bicentenary plans and the National Astronomy Meeting. Council decided to plan for a full season of online provision, to give clarity to organisers and attendees alike. As a result, we have run Council meetings via Zoom to continue our core business, while Ordinary Meetings, Specialist Discussion Meetings and the Bicentenary Public Lectures all moved completely online.

These meetings were very well attended and I have received many emails expressing thanks for them. For me personally they have provided an uplifting highlight and a reminder of the great research in our communities. The change in delivery also provided a more accessible and inclusive option for Fellows outside London – or, indeed, the UK – who cannot normally travel to Burlington House. This is a great improvement and we will continue to provide quality online access

in future, as well as returning to face-to-face meetings when it is safe to do so.

Our wonderful outreach and education team delivered online classes to preschool, primary and secondary-age children and families, again reaching far beyond the UK to Cyprus, South Korea, India, Australia, UAE and France.

Despite our concerns regarding the impact of the pandemic, our journals continued to thrive, with ever more papers submitted. We saw a 7% increase in submissions to GJI and 10% to MNRAS . In addition, we have moved ahead with plans to launch a new journal.

An exciting new venture for the Society in 2020 was the creation of the Early Career Network. This is being run by, and will represent the views of, early-career Fellows. The Early Career Online Poster Exhibition in September was the network’s first event, showcasing the work of 270 researchers. I took part in the judging and the quality of research presented was outstanding. The popularity of this inaugural event is an indication that there is a real appetite for this kind of network to support a key part of our community.

The Society has maintained its well-respected contributions to the UK policy debate by means of responses to government consultations and RAS policy statements. These are incredibly difficult and uncertain times for researchers and the Policy Group works to ensure that our collective voice continues to be heard in support of fundamental research. We continue lobbying government to provide the welcoming and supportive environment necessary for international science to thrive. A recent example of our advocacy work relates to the impact on astronomy of mega constellations with key stakeholders: scientists, satellite companies and the space agencies.

Despite the obvious challenges of 2020, I am grateful to Council, the committees, the RAS staff and our community of Fellows for helping us to continue our activities. Even though we have been separated for over a year, we have been able to continue to achieve our core objectives as a charity: to advance understanding and widely share knowledge on our specialist subjects of astronomy and geophysics. We look forward to reuniting our community in Burlington House when it is safe to do so, and continuing our work as a Society into our third century.

Emma Bunce President, 2020–22

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2020: Our Bicentenary

The Society had planned a year of celebrations and special activities for the year of our bicentenary, including a celebratory evening, Bicentenary Public Lectures and a National Astronomy Meeting in our first President William Herschel’s home town, hosted by the University of Bath. The Covid-19 pandemic disrupted these plans as well as ordinary Society activities. Some events took place as intended, others were modified or postponed and a few were cancelled. Creative thinking and hard work by RAS staff made sure that the Society’s work continued.

Celebration

The year began with an evening celebration at the Langham Hotel in London, introduced by President-Elect Emma Bunce. Some 300 Fellows and guests heard an entertaining address by Astronomer Royal Martin Rees. The evening also featured a poem written for the occasion by Poet Laureate Simon Armitage (see page 4). We were also delighted to receive, from coin and medal specialist Margaret Morris, the very generous gift of the Gold Medal awarded to John Herschel in 1826. We are grateful to have in our collection a tangible link to one of our most significant Fellows.

Executive Director Phil Diamond spoke about the future, talking to people who have benefited from RAS support. Jo Barstow spoke about her RAS Research Fellowship, and Manasvee Saraf described her undergraduate research placement. And Charlotte Grundy of Girlguiding UK, one of our bicentenary projects, spoke about

Above: The Society’s new monthly podcast has kept going through the pandemic.

Right: Astronomer Royal and former President the value of RAS 200: Sky & Earth for girls of the RAS Martin Rees and young women. addressing the audience at the Bicentenary RAS 200 celebration evening in RAS 200 is the major RAS outreach programme January. initiated in 2013 to celebrate the Bicentenary.

RAS 200 is the major RAS outreach programme initiated in 2013 to celebrate the Bicentenary. The Society has been working with 12 specialist charities and organisations over the past six years to reach new audiences: more than 130,000 people had engaged with our sciences by the end of 2020. Many of the projects had planned events to celebrate the RAS Bicentenary in 2020 that were cancelled or postponed as a precaution against Covid-19.

Online meetings

The RAS decided in March 2020 to move all Specialist Discussion Meetings and Ordinary Meetings online for the rest of the academic year. The 2020 National Astronomy Meeting, planned to take place in Bath, was postponed until 2021. Recognising the importance of NAM for early-career scientists, especially, the Society organised a very well received online poster session through the new Early Career Network. The Community Session, a fixture at NAMs in recent years, also took place virtually. We were unable to congratulate the winners of our 2020 medals and awards in person, but we saw them all online at our Virtual Awards Ceremony, hosted by our President.

RAS Executive Director Philip Diamond shows off the Gold Medal returned to the Society by Margaret Morris.

Prof. Bunce also featured in an episode of The Life Scientific on BBC Radio 4 in March,

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in which she spoke about the bicentenary of the Society, as well as discussing her life and career in space science.

Other celebratory events planned for the Bicentenary have gone ahead, some in slightly different forms. An inflatable planetarium appeared in the Burlington House courtyard from 15–28 February and more than 2500 people attended the free shows. The Supermassive Podcast appeared monthly throughout the year, and the Bicentenary Public Lectures, planned to take place at locations outside London, were instead mostly given online, gaining larger audiences from across the world. The Bicentenary Quilt project, led by the RAS Membership Officer, also became a virtual project with online sewing sessions throughout the year. The finished quilt will be displayed at the RAS when it is open to Fellows again. ■

Left: RAS 200 partners Girlguiding UK provided activities and meetings online during lockdown, while Care4Carers (below) focused their efforts on practical supports for their clients.

Right and top right: Two of the completed patches from the RAS Bicentenary Quilt, depicting Jupiter and a solar eclipse.

Right: Most of the planned Bicentenary Public Lectures were moved online.

Bottom right: The blowup planetarium visited Burlington House in February.

ANNUAL REPORT & FINANCIAL STATEMENTS 7

Objectives

The RAS exists to advance, and to record the history of, our understanding of the Earth, the solar system, the stars and galaxies, and the nature of the universe. It does this by promoting astronomy and geophysics, interdisciplinary sciences that encompass and further our understanding of physics, chemistry, mathematics, biology, engineering and computer science to answer deep questions about the origin and fate of the cosmos, and people’s place in it. Through this the Society contributes to the growth and dissemination of knowledge and thereby fulfils its charitable objective of serving the public interest.

The Society refers to the Charity Commission’s general guidance on Public Benefit when reviewing its aims and objectives and in planning future activities. These disclosures comply with the Charities Act 2011.

Our objectives for 2020 fall within two broad areas: advancing understanding and sharing knowledge; the organisation of the Society supports these goals.

The Society’s principal objectives are to:

In 2020, the Society planned, in addition, to:

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Advancing Understanding

During 2020, the Library supplied materials for an exhibition in Sydney on early colonial astronomy. Augmented reality using an iPad brings Governor Thomas Brisbane’s star chart alive. (Created by K Richards, J Harle, M F Valenzuela and WSU students ~~L Parsons, H Chourbaji, N Lamoridan, and M Ly. Photo by J Perera)~~

ANNUAL REPORT & FINANCIAL STATEMENTS 9

The RAS is committed to advancing understanding of our sciences by:

Journals

The Society publishes two academic peerreviewed journals which are world-renowned: Monthly Notices of the Royal Astronomical Society ( MNRAS ) and Geophysical Journal International ( GJI ). MNRAS publishes the results of original research in astronomy and astrophysics, including work which is observational, theoretical or concerned with astronomical instrumentation and software. GJI publishes articles on all aspects of theoretical, computational, applied and observational geophysics. Both journals receive submissions from authors worldwide. The peer-review process is overseen by an editorial team of eight assistant editors and the Publishing Manager, Kim Clube. Profiles of all of our scientific editors and editorial team can be found on our website at ras.ac.uk/journals/Editorial- Boards-and-Team.

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Volume 494 11 May 2020ISSN 0035-8711 (print)ISSN 1365-2966 (online)• Number 2
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The impact factor of a journal reflects the frequency with which articles are cited MNRAS in the scientific literature. In 2020, achieved an impact factor of 5.356, there were 3,969,893 article downloads, 5196 articles were submitted and 4208 articles were published. There are 26 scientific editors and Prof. David Flower continued as editor-in-chief. GJI received an impact factor of 2.574, published 582 papers in 2020, received 1264 submissions and there were 1,811,851 article downloads. Prof. Joerg Renner remained as editor-in-chief and there are currently 33 editors. Despite the pandemic, both journals saw an increase in submissions in 2020, with MNRAS showing a 10% increase compared with 2019, and GJI a 7% increase.

The first and the last paper issues of Monthly Notices , from 1831 and 2020. It continues in a digital-only format now.

Due to a decrease in the demand for print, MNRAS moved to online-only publication in 2020, a year earlier than planned due to the disruption caused by the pandemic. The final paper issue was volume 493, issue 2.

The MNRAS annual editorial board meeting was held in March and the GJI board meeting was held in October, both via Zoom. This meant a very early 5 a.m. meeting for those editors on the west coast of the USA, and a midnight meeting for those in Australia. Annual reports are prepared for these meetings to look at performance and agree plans for the next year. The Publications Management Committee met in April as usual.

Our subscription business model means that it is free for authors to publish in our journals unless papers exceed 20 pages in length, in which case there is an excess page charge of £50 per page over the limit. The journals are “hybrid” journals as authors can opt to pay for Open Access if they wish to make their paper freely available to everyone. Very few authors opt to pay for Open Access as our selfarchiving policy allows them to upload their papers to institutional or subject repositories and free public servers. Some content, such as Zooniverse (citizen science project) papers, special issues and GJI Express Letters, are freely available online. Members also have free online access to the journals.

Our journals are published by Oxford University Press (OUP), who have been our publishing partner since 1 January 2013. The journals had new branding and covers in 2020 to mark the Society’s bicentenary. New and improved content was added to the website and includes articles written by the editorial team on the history of our journals and on publishing in the future: ras.ac.uk/journals.

We help early-career researchers to communicate their research effectively by running workshops at conferences, and engage with and support our community through our journals’ Twitter account (@RAS_Journals), which has a growing following. There were two winners of the GJI student prize for best paper in 2020 – Daniele Brandt and Kenny Graham – who received a cash prize and certificate. Their papers are freely available at ras.ac.uk/newsand-press/news/gji-2020-student-authoraward-winners-announced.

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ADVANCING UNDERSTANDING

Research fellowships and grants

59 grants, fellowships and awards – including the Norman Lockyer Fellowship – totalling £263,091 were made to institutes, and 59 grants, fellowships and awards totalling £20,141 were made to individuals. Expenditure supporting the Norman Lockyer Fellowship totalled £54,000, and one research fellowship ended during its final year contributing to credits to expenditure totalling £42,642. Adjustments to other grants resulted in credits to expenditure totalling £34,442.

The Society supported four research fellowships and the RAS Norman Lockyer Fellowship during 2020:

RAS Norman Lockyer Fellowship:

Dr Vinesh Maguire-Rajpaul (University

Scientific meetings

The RAS meetings during 2020 were affected by Covid-19 precautions; 11 out of the normal 16 Specialist Discussion Meetings took place, six of them online and one as a hybrid meeting, at Burlington House and online. The remaining SDMs were postponed. Six Ordinary Meetings took place, four of them virtually; the online meetings had larger audiences than typical in Burlington House, with almost 400 at the October meeting. The National Astronomy Meeting (NAM) was postponed until 2021, but the RAS held a community meeting online. RAS President Prof. Emma Bunce chaired the session,

Gravitational lenses with presentations from and a discussion with such as this one are a Prof. Mark Thomson, executive chair of the Sci- happy discovery for ence and Technology Facilities Council (STFC), astronomers such as RAS and Dr Graham Turnock, chief executive officer Research Fellow Thomas of the UK Space Agency (UKSA). The turnout Collett, who uses them was larger than normal for the Community to explore fundamental Session at NAM, with 382 viewing online and a physics. (NASA/ESA) further 607 on the RAS YouTube channel.

Specialist Discussion Meetings held in 2020:

Radiation belt modelling in the post Van Allen Probes era

The near-Sun solar wind at solar minimum Biosignature identification in habitable

Vinesh MaguireRajpaul, Norman Lockyer Research Fellow: “It’s given me freedom to conduct my own programme of astronomical research, and also allowed me to pursue astronomy education research.” (Victoria Maguire-Rajpaul)

martian environments

The new window on transients and variable-

star astronomy with the Rubin Observatory Modelling and observing the lower solar

atmosphere: new solutions to old problems Progress in astrophysics with Type Ia

supernovae

Analysis of returned extraterrestrial materials: current capabilities and future opportunities Exploring the transient universe into the 2030s

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ADVANCING UNDERSTANDING

Ordinary Meetings held in 2020:

Dr Allan Chapman (Wadham College, University of Oxford): Ancestors and descendants: the RAS and the origins of the British learned society, 200 years on

Prof. Anton Ziolkowski (University of Edinburgh): Understanding the physics of planet Earth

Dr Megan Argo (University of Central Lancashire): The next blink of a cosmic eye: astronomy in the next 200 years

Dr Philippe Escoubet (ESA) Group Achievement G Award 2019 Cluster: the first mission probing the Sun–Earth connection in 3D

Prof. Jo Bovy (University of Toronto): The Milky

Way in the era of large astronomical surveys Dr Jasmine Sandhu (University College

London): Outreach – a postdoc’s perspective

Dr Elisa Chisari (Utrecht University):

RAS Research Fellow Galaxy shapes as a tool for cosmology and galaxy evolution Dr Peter Wyper (University of Durham):

RAS Research Fellow Simulations of eruptions from the Sun’s corona: what can we learn? Dr Timothy Craig (University of Leeds):

Winton G Prize 2019 Bending and breaking subducting tectonic plates

Prof. Stuart Bale (University of California,

Berkeley): The Parker Solar Probe – the mission and its first results

STFC, UKSA, ESA: RAS Community Meeting Prof. Ofer Lahav (University College London): George Darwin Lecture 2020 Darkness visible: AI in cosmological experiments

Prof. Yvonne Elsworth was awarded the RAS Gold Medal in Geophysics, recognising both her pioneering solar physics research and her service to the scientific community.

382 PEOPLE ATTENDED THE RAS COMMUNITY SESSION

Awards

The Society recognises outstanding achievements among early-career researchers as well as celebrating career-long excellence and service to our sciences. These are the recipients of the 2020 awards and medals:

Gold Medal in Astronomy Prof. Sandra Moore

Faber (University of California, Santa Cruz, and the Lick Observatory)

Gold Medal in Geophysics Prof. Yvonne Elsworth (University of Birmingham) Eddington Medal Prof. Steven Balbus

(Oxford University)

Chapman Medal Prof. Cathryn Mitchell (University of Bath)

Herschel Medal Prof. Robert Fender (Oxford University) Price Medal Dr Philip Livermore (University of Leeds)

Jackson-Gwilt Medal Prof. Roland Bacon (University of Lyon)

Agnes Mary Clerke Medal Dr Michael Hoskin (Churchill College Cambridge)

Annie Maunder Medal Dr Roberto Trotta

(Imperial College, London)

Patrick Moore Medal Dr Caroline Neuberg (Fulneck School, Leeds)

Award for Service to the Astronomy and

Geophysics Community Kim Burchell (Science and Technologies Facilities Council) Fowler Award for Astronomy Dr Amaury

Triaud (University of Birmingham)

Fowler Award for Geophysics Dr Craig Magee (University of Leeds)

Winton Award for Astronomy Dr Thomas Collett (University of Portsmouth)

Winton Award for Geophysics Dr Michele

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ADVANCING UNDERSTANDING

Bannister (Queen’s University Belfast) Group Achievement Award in Astronomy The Astropy Project

Group Achievement Award in Geophysics

The Stereo Heliospheric Imagers Team Gerald Whitrow Lectureship Prof. Andrew Pontzen (University College London) George Darwin Lecture Prof. Ofer Lahav (University College London) James Dungey Lecture Prof. Sarah Matthews (Mullard Space Science Laboratory, University College London)

Library and Archive

Burlington House was closed for most of the year, so we saw very few visitors to the Library in 2020. We received over a hundred research enquiries throughout the year, mainly from individual researchers. Some came from broadcasters, including National Geographic and The Sky at Night , who used several RAS historical sunspot images in an animated sequence (bbc.co.uk/iplayer/ episode/m000kxjy/the-sky-at-night-stars-amatter-of-life-and-death). Library staff also facilitated research for the National Gallery’s Conversations with God: Jan Matejko’s Copernicus exhibition and provided images for an

Solar and stellar spectra on a glass lantern slide used by Mary Proctor (1862–1957), one of our first women Fellows. She was a prolific and successful professional lecturer on astronomy, and the author of 16 books. The RAS is cataloguing the thousands of fragile glass slides in its care. (RAS)

MORE THAN 1000 PEOPLE ATTENDED SPECIALIST DISCUSSION MEETINGS

exhibition on Thomas Brisbane in Australia, among others.

A seminar with artist Kate Bernstein about her book Measuring the Heavens and the RAS Library in general for University of the West of England Centre for Print Research attracted an audience of around 50 (cfpr.uwe.ac.uk/ print-in-conversation- artists-in-the-library-21may-2020).

This extraordinary year has also presented an opportunity for behind-the-scenes work. Library staff have made progress with revisions to the catalogue of archives and manuscripts started in 1978. The descriptions have been revised to modern standards, enhanced and added to the Jisc Archives Hub, where they will include consistent information about the creator, and the scope and content of the materials. This remains a work in progress.

Working with Jisc, we have now uploaded all online RAS Library catalogue records to Library Hub Discover, the database of 172 national, academic and specialist library catalogues, where it will be available to the public at some time in the future. This means, for example, that when researchers use the database to find out which libraries in the UK and Ireland hold first editions of Isaac Newton’s

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ADVANCING UNDERSTANDING

Principia Mathematica , our copies will be in the search results.

Staff have also carried out retrospective cataloguing of books in the reserve and rare books collections, including our two copies of the 1687 edition of Isaac Newton’s Principia Mathematica . This is part of a project to develop online catalogue records.

In spite of the closure of Burlington House, Library staff have continued with environmental monitoring and collection management, completing a project to audit the reserve journals collection. Caroline Herschel’s copy of John Flamsteed’s Atlas Coelestis (1729) has been conserved in preparation for digitisation.

Diversity

The Society carried out a survey on harassment and bullying in our community, getting responses from more than 600 people across the astronomy, space science and geophysics sectors.

In May, the RAS formally established the Early Career Network, bringing together undergraduate and postgraduate students, and postdoctoral researchers to give them a stronger voice in the Society. One of its first pieces of work was a highly successful online poster competition, which attracted 272 entries from 47 countries and generated valuable scientific discussion on social media.

Political engagement

The Society responded to the UK parliament Science and Technology Select Committee inquiry into proposals for a new funding agency. In December, the RAS solicited views on diversity in astronomy and geophysics for the All-Party Parliamentary Group on Diversity and Inclusion in STEM.

Starlink satellite trails

in a 5-minute exposure from the Blanco 4 m telescope at the Cerro Tololo Inter-American Observatory in Chile. (NSF’s National OpticalInfrared Astronomy Research Lab/CTIO/AURA/ DELVE)

We continued to work on understanding and mitigating the impact of satellite mega constellations. The RAS hosted a working group meeting in January, created optical and radio subgroups for technical detail, and co- organised sessions and a press conference at the European Astronomical Society annual meeting. We also took part in the international development of the Dark and Quiet Skies report for the UN Committee on the Peaceful Uses of Outer Space, and submitted evidence to the All-Party Parliamentary Group on Light Pollution.

Our membership magazine

From the first issue of 2020, the Society’s membership magazine A&G had a refreshed design aligned with the new RAS branding. Fellows continue to support the magazine, sharing their work within our community by writing articles and sending in news items. A&G published 53 research reviews, reports of RAS meetings and outreach projects, discussion and analysis, as well as some 200 short news items. There were 252,571 downloads of A&G articles during the year, of which 205,312 represented “visits with content engagement”.

Articles also included reviews focusing on the history and publishing heritage of the Society, accounts of RAS Specialist Discussion Meetings, and achieveFEBRUARY 2020 | VOL. 61 | ISSUE 1A&G ments of the RAS 200 bicentenary projects. It was also a pleasure to highlight the career of distinguished Nigerian radio astronomer Samuel Okoye in Octo200 years of the RAS Cosmology considered The next big questions ber, to coincide with X-ray success The growth of the field in the UK Capturing the cosmos Astronomy and the development of photography Black History Month. ■

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Sharing Knowledge

Artist’s impression of a low-mass, highvelocity white dwarf reported in Monthly Notices of the RAS to be the result of an unusual, possibly partial, supernova. . ~~(Mark Garlick/University of Warwick)~~

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~~The Society disseminates knowledge to students,~~ the press and the wider public by:

ADVANCING UNDERSTANDING

Education and outreach

2500 CHILDREN ATTENDED RAS LOCKDOWN LEARNING CLASSES

The switch to virtual meetings in 2020 brought larger audiences for RAS Public Lectures and events and made it possible for Fellows based outside the UK to take a fuller part in outreach activities.

The RAS ran a number of special bicentenary outreach events. In July, we connected to scientists in Leicester and Hawaii as they used the Infrared Telescope Observatory in Hawaii to make observations of Jupiter when Ganymede and its shadow passed in front of the giant planet. 300 people signed up for the event itself, and the recording was watched more than 11,000 times on YouTube. The event included a presentation using materials from our Library and Archive.

The RAS chaired the steering group for National Astronomy Week 2020, celebrating the close approach of Mars in October with a programme of events and public viewings. Amateur and professional astronomers, broadcasters, writers and artists joined the sessions online, with classes for children, an evening event with a panel of speakers, and live links to observatories around the UK and in Cyprus. An audience of more than 150 people watched each event.

After schools closed to most pupils in March, RAS staff started online classes to support home-schooling. The first tranche of “lockdown learning” ran twice a month for four months, covering early years,

This is Rocket, budding young astronaut and star of the book Look Up!, which attracted around 2000

schools to an online reading and Q&A.

primary and secondary, with an average of 70 in each session. With additional views on the RAS YouTube channel, the classes have reached an estimated 2500 people to date.

In the autumn, RAS staff worked with Kevin Walsh of Westminster School to create online live classes for GCSE Astronomy, bringing together 48 students from across the UK each week. In July, the RAS also joined the UK Space Agency and ESA to present online training on Space Resources for Teachers.

In December, we hosted author Nathan Byron and illustrator Dapo Adeola who presented their children’s book Look Up! , with a drawing session followed by questions. 500 schools attended and a further 1500 schools watched on YouTube; we estimate that at least 40,000 children took part.

Friends of the RAS

Friends events were affected by the Covid19 restrictions but after the first lecture of 2020, the rest continued online, with four

taking place, one postponed and one cancelled. Around 40 people attended each, on average. Talk topics included “The secret signal hidden in every solar and stellar flare” and “Astronomy in

Ancient Egypt”. There were 274 members of the Friends by the end of 2020.

A cultural hub with other Courtyard Societies

We took part in the “Lunchtime Scientist” sessions run jointly with the other Courtyard Societies, targeting GCSE and A-level pupils and their teachers. These sessions ran online and involved conversations with leading researchers including astro-

biologist Jane Greaves, planetary geologist Divya Persaud, and biologist, artist and space researcher Anguelo Vermuelen.

Social media provided an alternative way of marking

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SHARING KNOWLEDGE

key outreach events in our calendar such as Open House, with videos about our building and collections. Even though the Courtyard Societies weren’t open to the public, we collaborated on social media both for Open House, and during the rest of the year under the hashtag #CollectionsUnited, a series of tweets showing connections between our collections and societies.

Library outreach

Library materials featured in articles on Sacrobosco’s Sphere and Copernicus’s De Revolutionibus in Popular Astronomy magazine, and The Supermassive Podcast episodes included conversations about our editions of De Revolutionibus and Caroline Herschel’s copy of Flamsteed’s star atlas. We also supported an exhibition at the Herschel Museum in Bath on the work of John Herschel, which opened on 29 February, only to close three weeks later as a consequence of Covid-19 regulations.

Pandemic precautions limited access to the Library in person, but fostered wider online audiences for some events. We collaborated with the Linda Hall Library, a science-focused independent public library in Kansas City, USA, to deliver four hour-long talks. Each event had a live audience of 100–200 people on both sides of the Atlantic, with lively Q&A sessions afterwards. The events were simultaneously streamed on Facebook and the videos each have 600–800 views. Links to the recordings have been uploaded to the Treasures of the RAS section of the website: ras.ac.uk/library/ treasures-of-the-ras.

The Library and the history of astronomy featured on Astro Radio’s Lock in at the Locked Inn show; Annie Maunder and the importance of role models was the focus of a presentation to the Finding Ada conference, with 830 delegates; and we welcomed a virtual Library tour for 20 artists taking part in a virtual residency organised by Mayes Creative and Carolyn Kennett.

RAS 200

RAS 200: Sky and Earth, the flagship Society project, saw much of its activity curtailed after the spring of 2020. Some partners did continue their activity, including the Prince’s Trust, with week-long sessions for 20 young people,

Our projects and lead partners

Astronomy and Geophysics through the Traditional Culture of Wales Aberystwyth University Beyond Prison Walls Bounce Back Foundation

Stepping Out: Astronomy Short Breaks for Carers Care for Carers Cornwall Sea to Stars Cornwall Sea to Stars Reaching for the Stars Girlguiding UK Space, Earth and Autism National Autistic Society The Planets 360 National Space Centre Creative

Geophysics in a Box National Youth Agency Astronomical Data: from Small and Beautiful to Big and Overwhelming South African Astronomical Observatory

Stars and Space The Prince’s Trust

Making Space University of Ireland Galway Open Your Eyes, Look up to the Skies Workers’ Educational Association

some of whom produced a leaflet (pictured below) including ways astronomy can boost well-being; Girlguiding, whose online engagement included a month of astronomy in November and virtual astronomy sleepovers; and the WEA, with tutor training, eight-week astronomy courses and stand-alone talks. Online courses offered the opportunity for a wider cross-section of Fellows to be involved in these activities; they are also more accessible for many participants.

Public Lectures

In addition to our usual programme of Public Lectures taking place at Burlington House, for 2020 we planned a series of lectures delivered around the UK. As a result of pandemic precautions, from March onwards these were all given virtually. Some of the public engagement events planned to celebrate our bicentenary took place early in 2020. The first Bicentenary Public Lecture – a series planned for venues outside London – took place in Cardiff in January. From March onwards, the remaining talks were given online, and very well received. The online Bicentenary and regular Public Lecture programme saw large audiences, with each event attracting between 250 and 400 people registered, and between 400 and 1700 additional views on YouTube.

The Public Lectures held in 2020:

Prof. Alberto Vecchio (University of Birmingham): Gravitational waves and spacetime fireworks: a new era in

astronomy

Anna Nash (Mullard Space Science Laboratory, University College London): ExoMars PanCam and planetary protection

Prof. Andrew Norton (Open University): Exploring the variable star zoo: citizen science and SuperWASP

Prof. Chris Done (University of Durham): Black holes and space science

The Bicentenary Public Lectures held in 2020:

Dr Edward Gomez (Cardiff University): Only a matter of time: is time-travel science or science fiction?

ANNUAL REPORT & FINANCIAL STATEMENTS 17

SHARING KNOWLEDGE

RAS 200 PROJECTS HAVE NOW REACHED 131,546 PEOPLE

Dr Michelle Collins (University of Surrey): Adventures in galactic archaeology

Rosie Cane (UK Centre for Astrobiology, University of Edinburgh): From microbes to Mars: how can we use bacteria in the search for life beyond the Earth?

Dr Matt Bothwell (Institute of Astronomy, University of Cambridge): Searching for Earth 2.0

Prof. Tim Wright (University of Leeds and director of COMET): Monitoring our hazardous planet from space

Prof. Michele Dougherty (Imperial College London): Cassini spacecraft mission at Saturn

Dr Tana Joseph (University of Amsterdam): Challenging Afro-pessimism: the SKA in Africa

Dr Aprajita Verma (University of Oxford): Rise of a giant: the Extremely Large Telescope

Media and social media

In 2020, the Society issued 16 press releases and RAS staff and officers gave 97 radio, TV and press interviews, commenting on topics including megaconstellations of satellites, diversity and inclusion in astronomy, and the exploration of Mars. The Society also created video content related to, for example, the Lyrids meteor shower, Venus in front of the Pleiades, and Comet NEOWISE, that accrued up to 25,000 views.

Ed Gomez discussing the concept of time travel in his Bicentenary Public Lecture in January. (Olivia Gomez)

For our bicentenary year, the RAS launched its first podcast series, The Supermassive

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18 ANNUAL REPORT & FINANCIAL STATEMENTS
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Podcast , in association with Boffin Media. By the end of the year it had been downloaded more than 53,000 times, with listeners in 57 countries; it was the fourth most popular astronomy podcast for UK listeners, with women forming a third of its audience, and two-thirds of listeners aged under 35.

The highlight of the year for RAS media engagement was the press briefing on the discovery of phosphine in the atmo sphere of Venus and its status as a biosignature. Working with the European Southern Observatory, James Clerk Maxwell Telescope, Jodrell Bank Observatory, the Science and Technology Facilities Council, Imperial College London, the University of Cambridge and the Open University, the briefing was hosted virtually by the Society. Around 250 journalists attended the event, which was broadcast live on YouTube and has now been watched more than 264,000 times; associated media resources attracted 17,000 and 105,000 views respectively. In November, the Society ran a second briefing, this time on the Gaia Early Data Release 3. 150 journalists attended this virtual event, and associated video animations of the solar neighbourhood and of the Large and Small Magellanic Clouds were viewed more than 21,000 times.

All our social media channels grew during 2020: Twitter by 52%; Facebook by 32%; Instagram by 369%; and our LinkedIn page, resurrected in March 2020, now has more than 1000 followers. The Library Twitter account increased engagement by 25%, reaching more than 300,000 impressions. Social media directed viewers to a range of RAS activities, including bicentenary events; the school classes engaged audiences from around the world; and our #lockdownlearning hashtag was adopted widely. In addition, video on social media had a high level of engagement, being collectively viewed more than 400,000 times over the course of the year.

The Society also ran a successful campaign around Black History Month in October, including examples of black astronomers and geophysicists now and in history. Over the month we saw more than one million impressions. On 19 November, the Institute for Historical Research ran “History Day” as an online event for postgraduate researchers, which included a short video tour of our collections. ■

Our Organisation

An audience watching The Planets 360 , a planetarium show produced for the RAS bicentenary by our ~~RAS 200 partners NSC Creative. (NSC Creative)~~

ANNUAL REPORT & FINANCIAL STATEMENTS 19

~~The organisation of the RAS supported~~ our objectives during 2020 by:

OUR ORGANISATION

by the RAS. The group noted that the change to working and meeting online during the pandemic cut our carbon emissions and demonstrated that online meetings can be successful.

Working remotely

In common with many Fellows, RAS staff worked remotely for most of the year, with only essential visits to Burlington House. Online engagement was higher throughout 2020, on social media and in nominations for Council elections and awards.

The Early Career Network

In May, the RAS formally established the Early Career Network (ECN), bringing together undergraduate and postgraduate students, and postdoctoral researchers in order to give them a stronger voice in the Society. ■

Áine O’Brien, a PhD student at the University of Glasgow, was appointed the first chair of the Early Career Network. “As part of its 200th anniversary, RAS Council wanted to celebrate the future, by supporting its early-

The Fellowship

career Fellows. Given that many early-career researchers (ECRs) have specific needs – in terms of networking, career guidance and mentoring, for example – it was thought the best way for the RAS to help was to form a committee of earlycareer researchers to provide mutual support and request what they need. One impact of Covid-19 was the loss of conferences, so we ran a free online poster exhibition. I was bowled over by the participation and engagement: there were more than 2000 views of the posters on day one!” The map shows where entries to the poster competition came from (in blue).

We have continued to explore options for our future in Burlington House. (Lynda Laird/RAS)

The RAS had 4204 Fellows at the end of 2020, 166 (4%) of whom were Honorary Fellows. This slight increase on the number in 2019 continues the pattern of steady expansion that has seen the number of Fellows grow by 5% since 2015. A quarter of our Fellows (26%) live outside the UK. 19% of our Fellows are female. 32% of our members were over 65 and 7% under 25.

Our future accommodation

The Society has set up a Property Working Group and continued to seek discussions with our landlords about the future of our accommodation at Burlington House. We have engaged with the other Courtyard Societies.

Sustainability Working Group

This group met to consider the report on the carbon footprint of Society activities commissioned from Alectro. The report highlighted the impact of travel by staff, Trustees and researchers engaged in activities supported

20 ANNUAL REPORT & FINANCIAL STATEMENTS

OUR ORGANISATION

Looking Forward

The transit of the moon Ganymede across the face of Jupiter was covered live in July as part of our bicentenary outreach. 11,000 people watched on YouTube. (NASA, ESA, A Simon [Goddard Space Flight Center]. Acknowledgment: ~~C Go and Hubble Heritage Team [STScI/AURA])~~

ANNUAL REPORT & FINANCIAL STATEMENTS 21

~~The RAS is making plans for 2021~~ and the future by:

• Setting objectives for our activities

Objectives

The Society will:

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A&G
FEBRUARY 2021 | VOL. 62 | ISSUE 1
The Journal of the Royal Astronomical Society February/March 1997 Vol38 Issue1 Martians under the microscopeMoonrise atStonehengeAutumn MIST FebruAry astRoNomyNews aNd 2009 • V& & RGeviews iN ol eophysics . 50 • Issue 1 Thomas Harriot after 400 yearsExploring polar Solar magnetic couplingmesospheric Tunguska centenaryclouds A AUGUST 2019 &• VOL. 60 G• ISSUE 4 & ASTRONOMY NEWS REVIEWSGEOPHYSICS & IN The Journal of the Royal Astronomical Society The magneticof the Sunstructure June 2001 Vol 42 Issue 3ISSN 1366-8781 october astRoNomyNews 2013 • V aNd & & R ol eviewsGeophysics . 54 • I iN ssue 5 Rapid core dynamicsManhattanhengeStar factories A FebruArY 2016 &•G Vol. 57 • Issue 1 & NewS ReviewSAStRONOmy GeOphySiCS & in
A october 2015 &•G Vol. 56 • Issue 5 & AstRoNomy News ReviewsGeopHysics & in memoriesStarburst The redshift one 3CR galaxies The Journal of the Royal Astronomical Society astronomy milestonesInfrared October 2000 Vol 41 Issue 5ISSN 1366-8781 50 YEARS OF LUNAR SCIENCEThe scientific legacy of the Moon landings and what the Moon can still tell usAFTER APOLLO: World Heritage sitesDiffuse interstellar bandsGravitational waves FebruAry astRoNomyNews aNd 2007 • V& & RGeviews iN ol eophysics . 48 • IThe 2019 Presidential AddressUNESCO lists Jodrell Bankssue 1 The history of a mystery Acould this cosmic plasma help us to detect life on exoplanets?pLANetARy ioNospHeRes FEBRUARY 2019 &•G VOL. 60 • ISSUE 1 & AstRoNomy NeWs RevieWsGeopHysics & IN Broadband seismic networkLiving with an active star www.blackwell-science.com/aag People in space? Understanding galaxy morphologyAPRIL 2020 | VOL. 61 | ISSUE 2A&G Astronomy and Advancing Geophysics Stellar dynamicsRAS Awards 2016Celebrating 100 years Old crust, new ideasof women as Fellows of the Society The Journal of the Royal Astronomical Society wOmeN & the RAS How Gaia will help us understand star formationOutstanding contributions to astronomy and geophysicsThe evolution of lunar crust origin theories Back to theMoon April 2003 Vol 44 Issue 2ISSN 1366-8781
First data and images from New Horizons of this surprisingly active dwarf planet and its moonsRobert HookeDeflection dilemma From clouds to starspluto Pioneer of lunar science and UK seismologyKeeping the Earth safe as space activity increasesModelling the gas clouds that lead to star formation Life in the outer solar system http://www.blackwell-science.com/aag The RAS Annual ReportCarte du Ciel Gravitational wavesMolecules and icesCore collapse supernovaeCosmoclimatology: a new approach? Global security LUciD in the sky RAs medals and Awards How geophysics supports a safer worldCosmic ray experiments by school studentsThe 2019 winners Seeing stars Citizen scienceBinary stars Classic papers What differences do they make?Bondi on accretion, Alfvén on heating by wavesFrom Edmond Halley to Zooniverse www.blackwellpublishing.com/journals/AAG/ News from the AASHistoric eclipsesOther Earths
APRIL ASTRONOMYN 2005 • V EWS AND & & G R OL EVIEWS . 46 • I EOPHYSICS SSUE IN 2 A DECEMBER 2019 &G• VOL. 60 • ISSUE 6 & ASTRONOMY NEWS REVIEWSGEOPHYSICS & IN OCTOBER 2020 | VOL. 61 | ISSUE 5A&G December astRoNomyNews 2013 • V aNd & & ReviewsG ol eophysics . 54 • I iN ssue 6 The amateur supernova hunterHigh-performance computingDIY aurorae ISSN 1366-8781 April 2004 Vol 45 Issue 2 AthE LEGACy oF CASSiNi–hUyGENS13 years of discovery through the seasons at Saturn AUGUST 2017 &• VOL. 58 G• ISSUE 4 & AStRoNomy NEwS REviEwSGEophySiCS & IN
Continental break-up in East Africa never seen Mars as before
Halley’s churchesDeuterium and dustLong-lived strong cratons 20 YEARS OF CHANDRAChanging the image of X-ray astronomyGiant flares Small telescopes, big surveys Expanding worldviews Outbursts on our Sun and on other starsAstrobiology, big history and cosmic perspectivesA proud past and a promising future A new radio astronomy era Frank KamenyPlanets and exoplanetsBlack History Month From astronomy to activism Meet Sam Okoye Exploring the ice giants The transient universe Astronomy and Advancing Geophysics Astronomy and AdvancingGeophysics Lower mantle tectonics: the 2003 Bullerwell LectureQuantifying research successCarbonaceous chondrites www.blackwellpublishing.com/AAG/ RAS FoundersCrowdsourcing Eclipse meteorology Computer pioneer Charles BabbageHow to harness the power of citizen scienceHow the weather changes during a solar eclipse
A DECEMBER 2018 &G• VOL. 59 • ISSUE 6 & AstRoNomy NeWs RevieWsGeopHysics & IN August astRoNomyNews aNd 2007 • V& & R ol Geviews iN . 48 • I eophysics ssue 4 The Journal of the Royal Astronomical Society MonitoringMontserrat April 1998 Vol 39 Issue 2 ACurrent and future technologies to boost visible and infrared imagingHIGH-RESOLUTION IMAGING JUNE 2019 • VOL. 60 &G• ISSUE 3 & ASTRONOMY NEWS REVIEWSGEOPHYSICS & IN The Journal of the Royal Astronomical Society Jupiters August 2002 Vol 43 Issue 4 Hot ISSN 1366-8781 December astRoNomyNews 2010 • V aNd & & RGeviews ol eophysics . 51 • I iN ssue 6 Solar system magnetospheresJupiter’s role in impactsOrion Star Count Week
presidential Address prize pictures outreach 50 yeARs oF mist scieNceA celebration of the magnetosphere, ionosphere and solar–terrestrial community Evaluating the impact of stargazing eveningsAstronomy Photographer of the YearA career in spaceflight ASK about auroraCosmic thermostatsTerahertz astronomyReach for the starsoutreach specialEducation and The distant universeSunspots and neural networksIn the wake of the Our new Sun Paramore The deep Earth Storms and substormsDust and debris Is the core stratified?Surveying the environment around our planetTheir effects on the magnetosphere The Whitrow Lecture www.blackwell-science.com/aag Magnetic carpetsVariable stars Space science old and new
AUGUST 2020 | VOL. 61 | ISSUE 4A&G A August 2015 &• Vol. 56 G• Issue 4 & AStRONOMy NewS ReviewSGeOphySiCS & in February astRoNomyNews 2011 • V aNd & & ReviewsG ol eophysics . 52 • I iN ssue 1 AstrobiologyThe search for lifespeciAl issue The Journal of the Royal Astronomical Society February 1999 Vol 40 Issue 1 A DECEMBER 2016 &G• VOL. 57 • ISSUE 6 & AstRoNomy NeWs RevieWsGeopHysics & IN FEBRUARY 2020 | VOL. 61 | ISSUE 1A&G
Celebrating its scientific and cultural impact – and looking to the futurehUBBLe At 25 Observingnear-Earthasteroids
Our active planet Plate tectonicsFrontiers of seismologyMIST meeting The solar wind throughout the solar system Revisiting a landmark paper New events and techniques Gold medal for NSOAuroral activity Magnetic meteorites Catalogue compiles historical sightings in UKDark matter garden wins at ChelseaWhat they tell us about the early solar system Explosive transientsRAS Medals and AwardsAntimatter from lightning Stellar evolution while you waitA new theory for ball lightning?The handlers of timeDr Plot’s sunset met scieNceWHeN ARt How conversations with scientists inspired a group of artistsDiamonds in the skyBeneath the crust Women then and now Exploring the North American cratonThe 2016 Presidential Address on white dwarfsThe past 100 years – and the next? 200 years of the RAS Cosmology considered X-ray success Capturing the cosmos The growth of the field in the UKAstronomy and the development of photographyThe next big questions
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The 2020 National Astronomy Meeting had to be postponed; NAM 2021 will be held online.

In 2021, the Society will also:

Right: A cover of covers, reflecting the changing look and breadth of content of A&G – or Astronomy & Geophysics

Left: A pamphlet published in three languages by Fellow Chintamanny Ragoonatha Chary in 1872, featured on our forthcoming Timeline. (RAS)

Events since the year end

National Astronomy Meeting 2021 The Society has decided that the 2021 NAM, postponed from 2020, will be held as a virtual event. A silver anniversary February 2021 saw the publication of the 25th volume of membership magazine A&G .

Supporting researchers The Society held a meeting in January 2021 to find out how Covid19 has affected our research community. Sustainability The RAS has signed the UN Climate Neutral Now declaration, commiting us to reduce carbon dioxide emissions by 50% by 2030, and to reach net-zero emissions by 2050. Accommodation We have written to our Fellows to ask for their support and coordinated with other Courtyard Societies about a sustainable future in Burlington House. Timeline Staff have been completing an online Timeline to mark significant events in the 200 years of the Society. 2021 will see the spectacular installation in Burlington House. ■

A&G MARKED 25 YEARS AS THE RAS MEMBERSHIP MAGAZINE

22 ANNUAL REPORT & FINANCIAL STATEMENTS

Structure, Governance and Management

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William Herschel sketched this model of the
universe in 1784. He was briefly our first President
and features as part of the RAS Timeline. (RAS)
ANNUAL REPORT & FINANCIAL STATEMENTS 23
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ANNUAL REPORT & FINANCIAL STATEMENTS 23

~~The regulations and procedures of the Society:~~

Council meeting. All members of Council are asked to complete a conflict of interest declaration and to sign a Trustee declaration form. Trustees have the opportunity to attend training, where appropriate; for example, on The Governance Code.

Fundraising

Governance

The Royal Astronomical Society was founded in 1820 and is incorporated by Royal Charter and managed according to byelaws that were revised at the Annual General Meeting in 2015. The RAS’s objectives, charters and byelaws are detailed on the Society’s website ras.ac.uk.

The control of the Society rests with the General Meeting of Fellows. Subject to that, direction and management are the responsibility of the Council (as the Trustees of the charity). The Council consists of a President, a Treasurer and three Secretaries together with four Vice-Presidents and 12 Councillors. In addition, the President-Elect attends Council for one year prior to taking up the post.

Trustee recruitment and appointment

Annually, the full membership of the Society is asked to nominate themselves or other members of the Society to available positions on Council. A nomination must be supported by two other members of the Society. Council approves the ballot list and this together with a narrative on each candidate is sent to the full membership for their consideration prior to casting their votes. We moved to fully electronic voting and an online AGM in 2020 in line with Covid-19 restrictions; we will continue with solely online voting in future.

Members of the Council are elected by ballot at the Annual General Meeting, for the following normal and maximum terms of office, as set out in the byelaws. In summary:

Trustee induction and training

New members of Council attend a Trustee induction programme before their first

2020 SAW INCREASED PARTICIPATION FROM FELLOWS BASED OUTSIDE THE UK

The Society is not currently fundraising actively, but if it does so in future it will comply with best practice as outlined by the Charity Commission, and also in compliance with GDPR. The Society offers information and guidance about leaving a legacy to the RAS on the website.

Organisational structure

The RAS Council normally meets six times during the year and its function is to direct, on behalf of the Society, all the affairs and business of the Society. Council appoints standing committees (Publications Management, Editorial [for each journal], Outreach and Education, Finance, International, Membership, Library, Astronomical Heritage, Diversity in Astronomy and Geophysics) and ad hoc committees (e.g. Awards) to forward its objectives.

It appoints the managing editors and editors of the Society’s research journals, Monthly Notices of the Royal Astronomical Society and Geophysical Journal International , who provide their services, as does the Treasurer, for an honorarium.

The Society has formal associations with a number of organisations having shared interests, and has less formal arrangements with several other bodies. These include:

24 ANNUAL REPORT & FINANCIAL STATEMENTS

Committee and the Campaign for Science and Engineering

Risks

The principal risks and uncertainties identified by the Trustees are:

The Finance Committee regularly reviews the Society’s risk register and the Council annually reviews the major risks to which the Society is exposed and the systems that have been established to manage those risks. In regards to the three most significant risks:

The Society insists that rigorous peer review is used to maintain the quality of the two journals and thereby the demand by authors and readers for the highly successful publications and, with the publishers, ensures that it adopts a robust business model for production and sales.

RAS staff pictured at the bicentenary celebration evening in January. (Lynda Laird/RAS)

RAS STAFF WORKED LARGELY FROM HOME DURING 2020

The uncertainty over future rental charges remains an ongoing concern for the Society. The Society, alongside the other Courtyard Societies, continues to seek a satisfactory resolution with the landlord. The Trustees still hold the view previously stated ( Annual Report 2015 ) that the Society has the resources to cover increases in rental charges over the current lease period. In the meantime, the Society will explore options for alternative accommodation if a satisfactory resolution cannot be achieved.

Other key risks identified and their mitigation measures include:

The Trustees consider the fluctuations in investment fund values and variability of investment returns to be a risk for the Society. The fund, Newton Growth and Income Fund for Charities, is actively and expertly managed and administered by Newton Investment Management who were reappointed after a competitive tender. Funds are invested in a diverse portfolio comprising commodities, equities, bonds and gilts. This managed strategy mitigates fluctuations in fund values and seeks opportunities for fund growth and income. The Trustees consider this approach mitigates the subsequent exposure to any investment risk. ■

ANNUAL REPORT & FINANCIAL STATEMENTS 25

Financial Statements

Aurora arise from the connection between the Sun and the Earth, a focus of ESA’s Cluster mission, and the subject ~~of a Specialist Discussion Meeting. (ESA/Sara Mazrouei)~~ ANNUAL REPORT & FINANCIAL STATEMENTS 27

FINANCIAL REVIEW

FINANCIAL REVIEW

The Society’s total funds increased from £21,240,147 to £21,507,367 during the year, both figures including a large contribution from the Society’s heritage assets (rare books, clocks, telescopes and fine art), which totalled £9,470,879 (2019 – £9,440,879). Income increased to £4,845,401 (2019 – £4,679,347) due to increased income from publishing and membership. Due to the Covid-19 pandemic the National Astronomy Meeting (NAM) did not take place. Publishing income increased by £251,303. The Society’s expenditure decreased to £4,532,478 (2019 – £4,810,880), which is mainly due to the Covid-19 pandemic reducing support costs due to reduced occupancy of Burlington House, postponing NAM and reducing grantmaking activity. Net investment losses totalled £45,703 (2019 – gains of £1,154,287).

Policy on reserves

The reserves policy aims to maintain adequate financial cover for the main risks to the Society and provide in the normal way for an efficient winding-up if that ever became necessary. Working cash reserves are maintained so the Society does not rely on realisation of investments gains, or capital invested. The total funds are now £21,507,367, of which £9,470,879 are held in heritage assets, leaving funds of £12,036,488 (2019 – £11,799,268) to cover the main risks and the operational needs of a going concern.

The requirement for significant reserves falls into two areas:

The Open Access fund and the Burlington House fund are currently maintained at high levels to support any significant changes to the Society’s operations, and the General Fund is available to provide further financial support if either of these risks materialise. The General Fund is also available, should it ever be needed, to enable an orderly

winding up of the Society. At present the free reserves of the Society, defined as unrestricted, undesignated funds, excluding tangible fixed assets, are £5,713,233 (2019 – £6,026,888) and these would allow operation of the Society for at least 15 months if publishing were continued and expenditure incurred during that period and 37 months if publishing were halted. The Trustees are satisfied that the current level of reserves is appropriate given the risks and uncertainties outlined above.

It has been the policy of the Society to fund grant activity from the Research and Grants fund, which is now included in the balance of designated reserves.

Investment policy

Investments are held with BNY Mellon Charities Fund: Newton Growth and Income Fund for Charities, with the aim of generating capital growth and income over the medium to long term, with actively managed assets held in global equities and fixed income securities. Surplus cash is held in the COIF Charities Deposit Fund with CCLA Investment Management, which provides a high level of capital security, interest and liquidity. The Fund has an actively managed diversified portfolio of sterling denominated money market deposits and instruments. Income and gains from these investments contribute to fund the Society’s charitable activities. Investment performance is monitored by the Accountant, Treasurer, Finance Committee and Council.

The Trustees, by resolution, adopted a total returns approach to the invested endowment funds in accordance with the requirements of the Charity Commission, believing that this approach is in the best interests of the Society. The fund reconciliation is disclosed in note 12. This approach was applied from 1 January 2015 when the value of the endowment funds at that date of £1,652,682 was used as a proxy for the original value of the endowment funds. In adopting this policy, permanent endowment funds will not be permitted to fall below the original value of £1,652,682. The Trustees aim to maintain the real value of the permanent endowment as a measure against the movements in the retail prices index. This was 1.2% for the year (2019 – 2.2%). No transfers to the restricted funds were made during the year (2019 – £207,695) as the funding levels held were considered adequate to cover commitments in 2021.

Grant-making policy

The RAS has for many years provided small grants to support the community in activities not funded by the Research Councils. Primarily these have been awarded to help students at the start of their careers, either with funding for summer bursaries enabling them to

28 ANNUAL REPORT & FINANCIAL STATEMENTS

FINANCIAL REVIEW

experience working in a research environment while still an undergraduate, or to enable PhD students to present work at research conferences. The RAS has also supported scientific meetings in the UK, especially those held outside London. These broad categories of support have been discussed many times at Council and serve the purpose of encouraging entrants to the profession and extending the activities of the Society to members and the public outside London.

In addition to these grants to individuals, the Society funds a series of fellowships to promote the careers of the highest quality young postdoctoral scientists. These currently include RAS Fellowships (on any subject) and the Norman Lockyer Fellowship (in solar and solar–terrestrial physics). The Norman Lockyer Fellow is funded from an endowment fund set up for that purpose.

A further activity funded by the Society is the award of medals to recognise the highest quality work in various categories. These awards are proposed to Council by a separate awards panel and no awards are made to serving councillors.

The grants, fellowships and awards are funded from a number of sources. The Society has its restricted and endowment funds invested with Newton Investment Management and the income and gains from these investments are used to support the grants expenditure in accordance with the bequests and interest from the COIF Charities Deposit Fund.

The grants panel deliberates twice a year and further grants are awarded by the Education and Outreach Committee. It comprises the Treasurer (chair) and the three Secretaries. 166 applications were received for the two deadlines in February and in August. Panel members observe strict rules on conflict of interest, taking no part in decisions on grant applications from their home institutions. In addition, it is usual for panel members to absent themselves from discussions on grant applications from scientists with whom they have had recent close contact, such as research students supervised in the past five years.

Information relating to RAS 200 can be found on pages 6 and 17.

Key management personnel

The key management personnel of the charity in charge of directing and controlling, running and operating the charity are the Trustees, the Executive Director and the Deputy Executive Director; the latter two are employees. They are assisted by an Accountant, a further three managerial level officers and other staff.

study compares the staff salaries to other similar external positions to reassure the Trustees that the levels of remuneration are appropriate. The last comparison exercise was carried out in 2018.

The Society does not have a performance-related pay scheme. The Trustees annually consider a salary increase in regards to cost of living that applies to all staff.

Pension scheme

The Society’s defined benefit pension surplus and its accounting treatment is explained in note 20 of these financial statements. This scheme is closed to new members and has four deferred members only and eight annuitants. The Society operates a defined contribution group personal pension scheme for current staff.

Legacies and donations

The Society encourages Fellows to include donations to the Society in their wills and receives donations during the year from Fellows and members of the public. During the year the Society received donations of £34,064 (2019 – £8,362) and £2,000 legacies (2019 – £nil).

Heritage assets

The Society’s collection of rare books, fine art, telescopes and clocks was valued in 2011 at approximately £9.5 million. The Society does not regard these as assets which can be converted to their cash value, except in the most dire circumstances.

The Society continues to receive donated items periodically. All such donations are gratefully received and appreciated by the Society. Where a valuation is available for additions to the collection, this is reflected in the financial statements. A valuation will always be obtained for additions that are financially material to the whole collection.

Investment performance

The Newton Growth and Income Fund for charities provided a yield of 1.95% and a total return gross of 1.42% in the year. Annual management charges of 0.6% are taken from the capital of the fund. Interest from the COIF Charities Deposit Fund yielded 0.2%. Performance of the fund managers is kept under continual review. The impact of the Covid-19 pandemic reduced dividend income by 27.7%, although by 31 December 2020 the fund had recovered almost all the losses incurred when the Covid-19 pandemic impacted investment markets in March 2020.

Council ensures that the RAS carries out a salary comparison exercise every 3–5 years. The comparability

ANNUAL REPORT & FINANCIAL STATEMENTS 29

TRUSTEES’ REPORT

TRUSTEES’ RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to:

AUDITORS

A resolution to appoint Buzzacott for 2021 will be proposed at the Annual General Meeting.

Approved by the Council and signed on its behalf by:

Prof. Emma Bunce President

Date: 14 May 2021

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the Royal Charter and Bye Laws. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website.

The Council of the Society believes that it has carried out these requirements.

30 ANNUAL REPORT & FINANCIAL STATEMENTS

INDEPENDENT AUDITOR’S REPORT

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE ROYAL ASTRONOMICAL SOCIETY

Trustees with respect to going concern are described in the relevant sections of this report.

Other information

Opinion

We have audited the financial statements of the Royal Astronomical Society (the ‘charity’) for the year ended 31 December 2020, which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the

The Trustees are responsible for the other information. The other information comprises the information included in the annual report and financial statements other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern

ANNUAL REPORT & FINANCIAL STATEMENTS 31

INDEPENDENT AUDITOR’S REPORT

basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining

an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and noncompliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s Trustees, as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of

32 ANNUAL REPORT & FINANCIAL STATEMENTS

INDEPENDENT AUDITOR’S REPORT

that Act. Our audit work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Date: 14 May 2021

Buzzacott LLP Statutory Auditor 130 Wood Street London EC2V 6DL

Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

ANNUAL REPORT & FINANCIAL STATEMENTS 33

STATEMENT OF FINANCIAL ACTIVITIES

STATEMENT OF FINANCIAL ACTIVITIES YEAR TO 31 DECEMBER 2020

Notes
Unrestricted
funds
£
Restricted
funds
£		 Endowment
funds
£		 2020
Total
funds
£		 2019
Total
funds
£
Income
Donations and legacies
1
Other trading activities
Investment income
2
Charitable activities
3
Total income
Expenditure
Raising funds
Charitable activities
5
Total expenditure
Net income (expenditure) before
investment gains and losses
Net (losses) gains on investments
12
Net income (expenditure) for the year and
net movement in funds
Reconciliation of funds:
Total funds brought forward at
1 January 2020
Total funds carried forward at
31 December 2020
31,064
40,263

121,586

4,595,184
5,000

—

6,420

—		 —
—
45,884
—
36,064
40,263

173,890

4,595,184		 8,362
47,349
248,492
4,375,144
4,788,097
11,420		 45,884
4,845,401		 4,679,347
9,251

4,462,379
—

60,848		 —
—
9,251
4,523,227		 15,553
4,795,327
4,471,630
60,848		 —
4,532,478		 4,810,880
316,467

(31,992)
(49,428)

(1,683)		 45,884
(12,028)
312,923

(45,703)		 (131,533)
1,154,287
284,475
18,572,550
(51,111)

795,109		 33,856
1,872,488
267,220

21,240,147		 1,022,754
20,217,393
18,857,025
743,998		 1,906,344
21,507,367		 21,240,147

All gains and losses for the year are recognised in the above statement. All activities are classed as continuing. The notes on pages 41 to 54 form part of these financial statements.

34 ANNUAL REPORT & FINANCIAL STATEMENTS

STATEMENT OF FINANCIAL ACTIVITIES

STATEMENT OF FINANCIAL ACTIVITIES YEAR TO 31 DECEMBER 2019

Notes
Unrestricted
funds
£		 Restricted
funds
£		 Endowment
funds
£		 2019
Total
funds
£
Income
Donations and legacies
1
Other trading activities
Investment income
2
Charitable activities
3
Total income
Expenditure
Raising funds
Charitable activities
5
Total expenditure
Net (expenditure) income before investment
gains and losses
Net gains on investments
12
Net income (expenditure)
Transfer between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward at
1 January 2019
Total funds carried forward at
31 December 2019
3,009
47,349

172,093

4,375,144		 5,353
—
8,464
—		 —
—
67,935
—		 8,362
47,349
248,492
4,375,144
4,597,595 13,817 67,935 4,679,347
15,553

4,681,757		 —
113,570		 —
—		 15,553
4,795,327
4,697,310 113,570 — 4,810,880
(99,715)

796,458		 (99,753)
39,641		 67,935
318,188		 (131,533)
1,154,287
696,743

—		 (60,112)
207,695		 386,123
(207,695)		 1,022,754
—
696,743
17,875,807		 147,583
647,526		 178,428
1,694,060		 1,022,754
20,217,393
18,572,550 795,109 1,872,488 21,240,147

All gains and losses for the year are recognised in the above statement. All activities are classed as continuing. The notes on pages 41 to 54 form part of these financial statements.

ANNUAL REPORT & FINANCIAL STATEMENTS 35

BALANCE SHEET

BALANCE SHEET 31 DECEMBER 2020

BALANCE SHEET
BALANCE SHEET 31 DECEMBER 2020
Notes 2020
£		 2020
£		 2019
£		 2019
£
Fixed assets
Tangible assets
. Heritage assets
11
. Other assets
11
Investments
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors:amounts falling due within one year
14
Net current assets
Total assets less current liabilities
Creditors:amounts falling due after one year
14
Total net assets
The funds of the charity
Endowment funds
15
Restricted income funds
16
Unrestricted income funds
. Designated funds
17
. General funds		 9,470,879
763,093
8,514,773		 18,748,745

2,872,170		 9,440,879
858,713
8,560,476		 18,860,068

2,497,794
848,383
3,736,532		 662,440
3,699,813
4,584,915
(1,712,745)		 4,362,253
(1,864,459)
13,027,499
5,829,526
12,427,713
6,144,837
21,620,915
(113,548)		 21,357,862
(117,715)
21,507,367 21,240,147
1,906,344
743,998
18,857,025		 1,872,488
795,109
18,572,550
21,507,367 21,240,147

The financial statements were approved by Council on 14 May 2021 and signed on its behalf by

Prof. Emma Bunce President

The notes on pages 41 to 54 form part of these financial statements

36 ANNUAL REPORT & FINANCIAL STATEMENTS

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS YEAR TO 31 DECEMBER 2020

TEMENT OF CASH FLOWS YEAR TO 31 DECEMBER 2020
Notes 2020
£		 2019
£
Cash flow from operating activities
Net cash used in operating activities
A
Cash inflow from investing activities
Dividends and interest from investments
Purchase of tangible fixed assets
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 January 2020
B
Cash and cash equivalents at 31 December 2020
B		 (81,319) (719,550)
173,890
(55,852)		 248,492
(39,347)
118,038 209,145
36,719
3,699,813		 (510,405)
4,210,218
3,736,532 3,699,813

Notes to the statement of cash flows for the year to 31 December 2020

A Reconciliation of net movement in funds to net cash flow from operating activities

2020
£
267,220
121,472
45,703
(173,890)
(185,943)
(155,881)
(81,319)		 2019
£
1,022,754
113,457
(1,154,287)
(248,492)
(107,914)
(345,068)
(719,550)
Net movement in funds (as per the statement of financial activities)
Adjustments for:
Depreciation charge
Net (gains) losses on investments
Dividends and interest from investments
Increase in debtors
Decrease in creditors
Net cash used in operatingactivities

B Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
2020
£
3,736,532		 2019
£
3,699,813
Total cash and cash equivalents:Cash at bank and in hand

C Reconciliation of net funds

Reconciliation of net funds
1 January
2020
£
Cash flows
£

36,719		 31
December
2020
£
Cash and cash equivalents 3,699,813 3,736,532

ANNUAL REPORT & FINANCIAL STATEMENTS 37

PRINCIPAL ACCOUNTING POLICIES

PRINCIPAL ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

Basis of preparation

These financial statements have been prepared for the year to 31 December 2020.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP) the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the Trustees and management to make significant judgements and estimates.

The items in the financial statements where these judgements and estimates have been made include:

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect of a period of at least one year from the date of approval of these financial statements.

The Trustees are fully cognisant of the risks that the Society is carrying such as the uncertainty and risks of increased rental charges for the accommodation in Burlington House, the possible risk posed by Open Access and a possible impact on the business model that relies on the publishing income and also of a low probability, albeit high impact risk, that the quality and success of the Society’s

publications will decrease.

Whilst recognising these risks the Trustees are content that the Society has strategies in place to manage them and are of the opinion that the Society has adequate free reserves and therefore sufficient resources to meet its liabilities as they fall due. The Reserves Policy on page 28 of the Trustees’ report provides more detail.

The Trustees have considered the impact due to Covid19 on the ability of the Society to continue its charitable activities. Whilst some public, national and scientific meetings have been cancelled or postponed, these activities do not generate surpluses. Although access to its Burlington House premises is restricted, the core functions of membership, publishing, outreach, some library activities, grant making and public policy & engagement are continuing without any immediate or material impact on income and cash reserves. Future grant making from the restricted income funds can also continue for up to three years and the Trustees therefore conclude that the preparation of these financial statements on a going concern basis is justified.

The Trustees have concluded that there are no other material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern.

The most significant areas of judgement that affect items in the financial statements are mentioned above and detail provided in the section on risks in the Trustees’ report.

With regard to the next accounting period, the year ending 31 December 2021, the most significant areas that affect the carrying value of the assets held by the charity are expected to be the same as for 2020 along with the residual or ongoing impact of Covid-19.

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Income comprises donations, investment income, income from the sale of publications, membership subscriptions, and other related income.

Donations, are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control

38 ANNUAL REPORT & FINANCIAL STATEMENTS

PRINCIPAL ACCOUNTING POLICIES

of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.

The Society has a contract with Oxford University Press for the publication of journals, which gives a percentage of the surplus made to 31 December each year to the Society. Although payments are received net, income is recognised in the financial statements on a gross basis which reflects that the Society retains the underlying long term rights. All publication income is accounted for on a receivable basis.

Membership subscriptions are payable in respect of a twelve month period in advance. The unearned portion of income received relating to the period after 31 December is carried forward as deferred income.

Investment income is recognised once the dividend has been declared and notification has been received of the dividend due.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the charity as described in the Trustees’ Report.

Grants payable for the support of research or study in any areas of astronomy and geophysics are recognised in the financial statements as soon as the obligation has been authorised by the Grants Committee, which meets twice-yearly (ca. February and August) to allocate funds, the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the Society.

The costs of raising funds consist of room hire expenditure and RAS diaries bought for resale.

Allocation of support and governance costs

Support costs, including governance costs, represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide

support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment.

Governance costs comprise audit fees, legal advice for Trustees and costs associated with constitutional and statutory requirements, e.g. cost of Trustee meetings and preparing statutory financial statements as well as costs associated with the strategic management of the Society

Support costs are apportioned based on the proportion of floor area occupied by, or proportion of staff time spent on, the activity.

Taxation

The Society is a registered charity and no liability to taxation arises on the results of its activities as applied for charitable purposes, with the exception of investment income, which is taxed at source.

Operating leases

Rentals under operating leases are charged to the statement of financial activities on a straight-line basis over the term of the lease.

Pension costs

The Society operates two pension schemes for employees and former employees. The assets of the schemes are held separately from those of the Society.

The Society operates a defined benefit pension scheme for former employees, who joined its service before 1 January 2002, providing benefits based upon final pensionable earnings. Royal London manages the pension scheme, with the investments now 100% held by Royal London.

The latest actuarial valuation at 31 December 2020 shows a pension surplus which is not recognised on the balance sheet as an asset because it is not available to the Society by way of reduced future contributions.

Actuarial gains and losses arising from new valuations and from updating valuations to the balance sheet date are recognised in the statement of financial activities as other recognised gains and losses.

The Society has established a second pension scheme (a defined contribution scheme) for employees who began service with the Society after 1 January 2002. The amount charged in the statement of financial activities in respect of the defined contribution pension scheme is the contributions payable in the year.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the

ANNUAL REPORT & FINANCIAL STATEMENTS 39

PRINCIPAL ACCOUNTING POLICIES

transaction. All differences are taken to the statement of financial activities.

Heritage assets

Heritage assets are included in the financial statements at a historic valuation which is being treated as deemed cost. There are two main classes of heritage assets that the Society possesses, which are:

The Society’s rare book and manuscript collection is reported in the balance sheet at a valuation by Christies in 1996, with a number of items re-valued by B Quaritch Limited in 2011. The valuation basis was High Auction Estimate.

The Society’s fine art and collectibles are reported in the balance sheet at a valuation by Bonhams in 1992, including index linking, with a number of items revalued by Bonhams in 2011.

The Society continues to periodically receive donated items. All such donations are gratefully received and appreciated by the Society. Where a valuation is available for additions to the collection, this is reflected in the financial statements. A valuation will always be obtained for additions that are financially material to the whole collection.

Depreciation is not charged on heritage assets due to immateriality based on their extremely long useful lives and high residual values.

Other tangible fixed assets

The Society capitalises tangible fixed assets with a cost greater than £250 and an estimated useful life over one year.

Tangible fixed assets are depreciated on cost on a straight line basis from the date of acquisition over their expected useful lives as follows:

day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.

Fund structure

Endowment funds comprise assets which normally must be held as capital. The income arising therefrom is used to support specific activities determined in accordance with the wishes of the donor.

Restricted funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor imposed conditions.

Designated funds represent monies set aside out of unrestricted funds and designated by the Trustees for a specific purpose.

Unrestricted funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the Society’s charitable objects.

Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value where the investment is acquired subsequent to the first

40 ANNUAL REPORT & FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

1 Donations and legacies

Unrestricted
funds
£		 Restricted
funds
£		 2020
Total
funds
£		 Unrestricted
funds
£		 Restricted
funds
£
5,353
—
5,353		 2019
Total
funds
£
Donations
Legacies
Total funds		 31,064
—		 3,000
2,000		 34,064
2,000		 3,009
—		 8,362
—
31,064 5,000 36,064 3,009 8,362

2 Investment income

Investment income
Unrestricted
funds
£		 Restricted
funds
£		 Endowment
funds
£		 2020
Total
funds
£
Income from listed investments
Bank interest
2020 Total funds		 116,763
4,823		 6,202
218		 44,321
1,563		 167,286
6,604
121,586 6,420 45,884 173,890
Unrestricted
funds
£		 Restricted
funds
£		 Endowment
funds
£		 2019
Total
funds
£
Income from listed investments
Bank interest
2019 Total funds		 160,417
11,676		 7,858
606		 63,073
4,862		 231,348
17,144
172,093 8,464 67,935 248,492

3 Income from charitable activities

Income from charitable activities
Unrestricted funds
2020
£
2019
£
Publications (note 4)
Membership
Scientific meetings
Public policy
Library
Educational
Other
Total funds		 4,217,341
362,860
1,445
2,297
3,399
4,167
3,675		 3,966,038
350,267
40,226
1,262
8,370
6,306
2,675
4,595,184 4,375,144

ANNUAL REPORT & FINANCIAL STATEMENTS 41

NOTES TO THE FINANCIAL STATEMENTS

4 Publications

ES TO THE FINANCIAL STATEMENTS
Publications
2020
£		 2019
£
Income
Monthly Notices of the Royal Astronomical Society
Geophysical Journal International
Astronomy & Geophysics
Other
Expenditure
Monthly Notices of the Royal Astronomical Society
Geophysical Journal International
Astronomy & Geophysics
Other
3,103,852
1,021,726
84,996
6,767		 2,865,379
1,007,409
86,136
7,114
4,217,341 3,966,038

2,421,830
638,652
186,076
22,432		 2,290,130
663,151
166,790
29,828
3,268,990 3,149,899

5 Expenditure on charitable activities

Expenditure on charitable activities is analysed as follows:

Direct
costs
£		 Support
costs
£		 2020
£		 Direct
costs
£		 Support
costs
£		 2019
£
Publications (note 4)
Scientific meetings
Membership
Educational
RAS 200
Library
Public policy		 2,848,351
17,041
11,259
234,672
93,250
110,178
62,321
420,639

194,273

49,858

53,308

4,000

370,781

53,296		 3,268,990
211,314
61,117
287,980
97,250
480,959
115,617		 2,713,442
113,843
9,514
505,670
98,405
99,165
66,033		 436,457
201,579
51,733
54,463
5,000
384,723
55,300		 3,149,899
315,422
61,247
560,133
103,405
483,888
121,333
3,377,072
1,146,155		 4,523,227 3,606,072 1,189,255 4,795,327

Grants, fellowships and awards, in support of research, are principally included under Educational and RAS 200 above to reflect the responsibilities for the management and administration of grants. 59 grants, fellowships and awards – including the Norman Lockyer Fellowship, totalling £263,091 (2019 – £542,711) were made to institutes, and 59 grants, fellowships and awards totalling £20,141 (2019 – £22,239) were made to individuals. Expenditure supporting the Norman Lockyer Fellowship totalled £54,000 (2019 – £104,000), and one research fellowship ended during its final year contributing to credits to expenditure totalling £42,642 (2019 – £50,000). Adjustments to other grants resulted in credits to expenditure totalling £34,442 (2019 – £2,958).

Total grant-making support costs were £28,000 (2019 – £27,500).

A full list of all grantees and analysis can be found on the Society’s website.

All expenditure on charitable activities is unrestricted except for £60,848 (which is almost entirely included within the educational category) which is restricted (2019 – £113,570).

42 ANNUAL REPORT & FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

6 Support costs

Support costs analysed by function are as follows:

Support costs
Support costs analysed by function are as follows:
2020
£		 2019
£
Executive
Finance
Facilities
Membership
IT
Policy, development and press
Burlington House
Other
Governance (note 7)		 144,564
78,739
83,858
34,965
68,396
81,089
153,033
324,218
177,293		 140,714
88,689
92,285
34,595
61,032
86,078
149,728
347,815
188,319
1,146,155 1,189,255

Staff time (based on a review of staff time apportionment) and floor area, are used as bases of apportioning support costs over charitable activities.

7 Governance costs

costs over charitable activities.
Governance costs
2020
£		 2019
£
Auditor’s remuneration (note 8)
Trustees’ and Committee costs
AGM expenses
Staff time and other expenses		 25,325
23,914
7,974
120,080		 24,765
29,845
10,650
123,059
177,293 188,319

8 Net income (expenditure) for the year

This is stated after charging:

Net income (expenditure) for the year
This is stated after charging:
2020
£		 2019
£
Depreciation
Auditor’s remuneration:
. Charity audit
. Pension scheme audit
. Other services
Operating lease rentals
. Office equipment		 121,472
19,250
6,075
500
9,750		 113,457
16,025
5,675
3,065
14,156

ANNUAL REPORT & FINANCIAL STATEMENTS 43

NOTES TO THE FINANCIAL STATEMENTS

9 Staff costs and remuneration of key management personnel

2020
£		 2019
£
Wages and salaries
Social security costs
Pension costs (see note 20)
. Stakeholder pension scheme
. Death in service contributions		 864,583
89,979
72,379
4,172		 821,677
83,870
68,347
5,493
1,031,113 979,387

During the year one employee of the Society earned between £70,000 and £80,000 (2019 – one) and one employee earned between £60,000 and £70,000 (2019 – one). Employer contributions to the stakeholder pension scheme for employees earning over £60,000 were £14,395 (2019 – £14,010).

The average number of employees was 23 (Administration 6, Outreach 1, Editorial 10, Library 2, House 2, Press & Policy 2) (2019 – 22).

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise the Trustees and the Executive and Deputy Executive Directors. The total remuneration (including taxable benefits and employer’s pension and national insurance contributions) of the key management personnel for the year was £182,069 (2019 – £176,863).

10 Transactions with Trustees

The Trustees receive reimbursement for travel expenses actually incurred in attending meetings. The amount reimbursed during the year for 13 Trustees was £6,769 (2019 – £16,815).

Remuneration of £6,337 was paid to one Trustee during 2020 (2019 – £5,923 to one Trustee). By agreement with the Charity Commissioners (dated 14 June 2004, case No. 299189, Sealing No. 344/04) the Treasurer is paid an Honorarium. This is uplifted by inflation at the RPI rate and formally approved each year by Council.

Grants made to Councillors

The following grants were made to Councillors during the year as part of the RAS grant awarding process. The recipients had no influence or part in the decisions on the award of these grants. For the most part the grant holders were not the main personal beneficiaries as the support was directly received by their students or meeting attendees. Excluding Councillors from the grants round completely is not seen as a satisfactory policy. It would strongly dissuade members from standing for election as Councillors and would be at variance with the accepted practice in Research Councils where members of grants panels are not excluded from applying. The process of grant review and award fully complies with the Nolan Principles and closely follows Government Research Council practice. The grants were:

44 ANNUAL REPORT & FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

11 Tangible fixed assets

(a) Heritage assets

Tangible fxed assets
(a) Heritage assets
Rare books
and
manuscripts
£		 Fine art
and
collectibles
£
4,489,379
30,000
4,519,379		 Total
£
At 1 January 2020
Additions
At 31 December 2020		 4,951,500
—		 9,440,879
30,000
4,951,500 9,470,879

There have been no recorded movements between 2016 and 2019.

The rare book collection is preserved by storing in an air-conditioned, temperature-controlled environment; the fine art and collectibles are also continually preserved in order to maintain their values.

Certain heritage assets are on public display at exhibitions. The Society’s Librarian controls access to those heritage assets which are kept at Burlington House.

(b) Other assets

(b) Other assets
Leasehold
improve-
ments
£		 Plant
and
machinery
£		 Telephone,
security &
computer
equipment
£		 Past
Presidents’
Portraits
£		 Total
£
Cost
At 1 January 2020
Additions
Disposals
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
Disposals
At 31 December 2020
Net book values
At 31 December 2020
At 31 December 2019		 1,878,405
—
—
30,541

1,703

—		 298,992
24,149
(17,171)		 9,994
—

—		 2,217,932
25,852
(17,171)
1,878,405
32,244		 305,970 9,994 2,226,613
1,106,595
93,964
—
10,684

3,069

—		 241,940
24,439
(17,171)		 —
—

—		 1,359,219
121,472
(17,171)
1,200,559
13,753		 249,208 — 1,463,520
677,846
18,491		 56,762 9,994 763,093
771,810
19,857		 57,052 9,994 858,713

ANNUAL REPORT & FINANCIAL STATEMENTS 45

NOTES TO THE FINANCIAL STATEMENTS

12 Investments

ES TO THE FINANCIAL STATEMENTS
Investments
2020
Total
funds
£		 2019
Total
funds
£
Market value at 1 January 2020
Net unrealised investment (losses) gains
Market value at 31 December 2020
Historical cost as at 31 December 2020		 8,560,476
(45,703)		 7,406,189
1,154,287
8,514,773 8,560,476
4,917,081 4,917,081

Investments comprise BNY Mellon: Global Growth and Income Fund.

The permanent endowment fund investments and movements in the unapplied total return are set out below.

Trust for
investment
£		 Unapplied
total return
£		 Total
endowment
£
At 1 January 2020
Add: Total return
. Investment income
. Net losses on listed investments
At 31 December 2020		 1,652,682 219,806 1,872,488
1,652,682 45,884
(12,028)		 45,884

(12,028)
33,856 33,856
253,662 1,906,344
Trust for
investment
£		 Unapplied
total return
£		 Total
endowment
£
At 1 January 2019
Add: Total return
. Investment income
. Net gains on listed investments
Less:
. Allocation to income from total return
At 31 December 2019		 1,652,682 41,378 1,694,060
1,652,682 67,935
318,188		 67,935
318,188
386,123 386,123
(207,695)
(207,695)
219,806 1,872,488

When adopting total applied return with effect from 1 January 2015, in the absence of reliable records of the original donations, the Trustees considered that the market values of the investments as recorded as at 1 January 2015 were appropriate to be considered as the initial value of the trust for investment. Since that figure sets the baseline below which disposals may not be made, taking a higher value than the actual original donations was considered to be prudent.

The Trustees have resolved that they wish to maintain the real value of the permanent endowment using the retail price index as a measure. No transfers to the restricted funds were made during the year as the funding levels held were considered adequate to cover commitments in 2021 (2019 – £207,695).

46 ANNUAL REPORT & FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

13 Debtors

Debtors
2020
£		 2019
£
Trade debtors
Prepayments and accrued income
Other debtors		 21,988
799,543
26,852		 40,572
614,525
7,343
848,383 662,440

14 Creditors

(a) Amounts falling due within one year

Creditors
(a) Amounts falling due within one year
2020
£		 2019
£
Trade creditors
Accruals
Grants payable
Tax and social security
Deferred income
Other creditors		 20,017
130,466
250,342
209,549
1,054,806
47,565		 87,265
74,371
455,160
195,918
1,012,898
38,847
1,712,745 1,864,459

(b) Amounts falling due after more than one year

(b) Amounts falling due after more than one year
2020
£		 2019
£
Grantspayable 113,548 117,715

(c) Deferred income

(c) Deferred income
2020
£		 2019
£
Balance as at 1 January 2020
Released to income
Income received from Fellows in advance
Publications income received in advance
Other income received in advance
Balance as at 31 December 2020		 1,012,898
(1,012,898)
64,936
950,000
39,870		 1,030,736
(1,030,736)
62,898
950,000
—
1,054,806 1,012,898

ANNUAL REPORT & FINANCIAL STATEMENTS 47

NOTES TO THE FINANCIAL STATEMENTS

15 Endowment funds

ES TO THE FINANCIAL STATEMENTS
Endowment funds
1 January
2020
£		 Income
£		 Investment
losses
£		 Transfers
£		 31
December
2020
£
Research and Grants funds:
. Sir Norman Lockyer fund
. Other funds
Benevolent fund
Library fund
Lectures and awards fund		 1,448,558
145,269
35,496

3,560		 (9,305)
(933)
—

—		 1,474,749
147,896
1,593,827
91,179
43,309
144,173
39,056

2,234

1,061

3,533		 (10,238)
(586)
(278)
(926)
—

—

—

—		 1,622,645
92,827
44,092
146,780
1,872,488
45,884		 (12,028)
—		 1,906,344
1 January
2019
£		 Income
£		 Investment
gains
£		 Transfers
£		 31
December
2019
£
Research and Grants funds:
. Sir Norman Lockyer fund
. Other funds
Benevolent fund
Library fund
Lectures and awards fund		 1,309,838
131,427
52,527

5,270		 246,021
24,685		 (159,828)
(16,113)
1,448,558

145,269
1,441,265
82,489
39,183
131,123
57,797

3,309

1,571

5,258		 270,706
15,494
7,360
24,628		 (175,941)
(10,113)
(4,805)
(16,836)
1,593,827

91,179

43,309

144,173
1,694,060
67,935		 318,188 (207,695)
1,872,488

There were no transfers from the endowment fund to the restricted income fund in 2020 (2019 – £207,695).

48 ANNUAL REPORT & FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

16 Restricted income funds

1 January
2020
£		 Income
£		 Expenditure
£		 Investment
losses
£		 Transfers
£		 31
December
2020
£

(55,500)

(2,140)

—

(1,000)

(2,208)
(842)

—

(141)

(700)

—
—

—

—

—

—
521,871

29,492

38,703

112,989

40,943

(60,848)
(1,683)
—
743,998
1 January
2019
£		 Income
£		 Expenditure
£		 Investment
gains
£		 Transfers
£		 31
December
2019
£
Research & Grants fund
Benevolent fund
Library fund
Education fund
Lectures and awards
fund		 477,679
22,644
29,434
89,309
28,460
9,166

—

716

3,935

—
(109,300)

(1,125)

—

(1,000)

(2,145)
19,515

—

3,352

16,774

—
175,941

10,113

4,805

—

16,836
573,001

31,632

38,307

109,018

43,151
647,526
13,817
(113,570)
39,641
207,695
795,109

The restricted funds are consolidated into five groups to serve the Council’s priorities and address modern needs: Research & Grants, Benevolent, Library, Education and Lectures & Awards. A detailed fund summary can be found on the RAS website.

The restricted funds were classified to either Restricted (R), Endowment (E), Designated (D), or General (G) funds:

Research & Grants fund

E A G Stillhamer Trust Fund (1937) D E W Brown Trust Fund (1939) E Plummer Bequest (1946) G General

R Victor Nadarov Fund (1950) E Sir Norman Lockyer Memorial Trust (1990)

R Hosie Bequest (2000)

D Mrs J M Jelley-Freeman Bequest (2000)

D C A G Bearpark Trust (2000) R Patricia Tomkins Fund (2011) G Special Purposes Fund E E A Milne Travel Fund (2013) R R Potter Research Fund (2017) R Osmaston Fund (2020)

Library fund

E Turnor Fund and Horrocks Memorial Fund (1853/1876) E Harry Watson Memorial Fund (1923)

E Warin Bushell Fund (1964) E Gaythorp Bequest (1969) E Ian Ridpath Conservation Fund (2006)

R Dewhirst Fund (2013)

Education fund

R Newbigen Fund (1990) R Michael Penston Memorial Fund (1991) R Sir William Hunter McCrea Memorial Fund (2000) R Paul Ruffle Memorial Fund (2014) D Education Committee

Benevolent fund

E Lee & Jansen Trust Fund (1834/1879) E Gerald Merton Fund (1986) G Donald R Barber Fund (2001)

Lectures & Awards fund

E Hannah Jackson-Gwilt Trust Fund (1861/1893) E George Darwin Lectureship Fund (1926)

E George Darwin Support Fund D A S Eddington Commemoration Fund (1948) E Harold Jeffreys Lectureship Fund (1962)

E A T Price Medal Fund (1999) E Gerald Whitrow Memorial Lecture Fund (2001)

E Fowler Prizes Fund (2004)

ANNUAL REPORT & FINANCIAL STATEMENTS 49

NOTES TO THE FINANCIAL STATEMENTS

17 Designated funds

ES TO THE FINANCIAL STATEMENTS
Designated funds
1 January
2020
£		 New
designation
£		 Utilised/
released
£		 31 December
2020
£
Accommodation fund
Burlington House fund
Heritage Asset fund
Building fund
Open Access fund
RAS 200
RAS 2020
Research and grants fund
Total designated funds		 —
740,764
9,440,879
1,123,694
393,440
254,968
314,858
159,110		 1,000,000
—
30,000
—
—
—
—
—		 —
(93,964)
—
93,964
(844)
(93,250)
(299,858)
(36,262)		 1,000,000

646,800
9,470,879
1,217,658

392,596

161,718

15,000

122,848
12,427,713 1,030,000 (430,214)
13,027,499
1 January
2019
£		 New
designation
£		 Utilised/
released
£		 31 December
2019
£
Burlington House fund
Heritage Asset fund
Building fund
Open Access fund
RAS 200
RAS 2020
Research and grants fund
Total designated funds		 834,728
9,440,879
1,029,730
400,000
353,373
389,459
116,769		 —
—
—
—
—
—
173,335		 (93,964)
—
93,964
(6,560)
(98,405)
(74,601)
(130,994)
740,764
9,440,879
1,123,694

393,440

254,968

314,858

159,110
12,564,938 173,335 (310,560)
12,427,713

(i) Accommodation fund

This new fund represents the requirement to finance a possible relocation due to the uncertainties concerning the lease at Burlington House.

(ii) Burlington House fund

Under lease agreements signed in 2005 with the Department of Communities and Local Government (previously Office of the Deputy Prime Minister – ODPM), the Society and four others in the Burlington House courtyard secured future occupancy on the basis of paying rent and, additionally, being responsible for the external fabric of the building following a renovation programme carried out by the ODPM in mid-2006. In 2006–07, the Society executed a refurbishment project on the interior of the apartments. Expenditure incurred on the project has been capitalised and designated as the Burlington House fund.

(iii) Heritage Asset fund

A fund has been established to include the Society’s heritage assets to recognise that there is no intention to dispose of these assets and the amount is not readily available to meet expenditure.

(iv) Building fund

The repairs and maintenance of the exterior of the building, its insurance and some security costs are carried out by the landlord for all the occupants and a proportion recharged to the Society. The Building fund should provide for internal and external maintenance of the building. The Finance Committee will recommend how much more to accumulate in this fund and at what rate. The timescale for expenditure is difficult to forecast but in principle could start within five years.

50 ANNUAL REPORT & FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

(v) Open Access fund

A fund has been established to provide against the risk of the possible collapse of the current business model for learned publishing due to various forms of Open Access. The timescale for expenditure is difficult to forecast but could in principle start within five years.

(vi) RAS 200

The original fund balance of £1,000,000 was the total committed grant expenditure for RAS 200. RAS 200 grant expenditure is being charged to this fund from 2015 to 2022.

(vii) RAS 2020

This represents the estimated expenditure associated with the RAS bicentenary celebrations, associated events and activities.

(viii) Research and grants fund

This represents those funds to be used for research and grants.

18 Analysis of net assets between funds

Fund balances at 31 December 2020 are represented by:

General
funds
£		 Designated
funds
£		 Restricted
funds
£		 Endowment
funds
£		 2020
Total
funds
£
9,470,879
646,800
2,110,475
—
1,013,926
(127,033)
(87,548)		 —
743,998
—
107,033
(94,033)
(13,000)		 —
1,906,344
—
—
—
—		 9,470,879
763,093
8,514,773
848,383
3,736,532
(1,712,745)
(113,548)
5,829,526 13,027,499 743,998 1,906,344 21,507,367
2019
Total
funds
£
Tangible assets
. Heritage assets
. Other fixed assets
Investments
Current assets
. Debtors
. Cash at bank and in hand
Current liabilities
Non-current liabilities
Total net assets		 —
117,949
4,318,597
662,440
2,632,692
(1,536,303)
(50,538)		 9,440,879
740,764
1,574,282
—
1,000,001
(261,036)
(67,177)		 —
—
795,109
—
67,120
(67,120)
—		 —
—
1,872,488
—
—
—
—		 9,440,879
858,713
8,560,476
662,440
3,699,813
(1,864,459)
(117,715)
6,144,837 12,427,713 795,109 1,872,488 21,240,147

ANNUAL REPORT & FINANCIAL STATEMENTS 51

NOTES TO THE FINANCIAL STATEMENTS

19 Leasing commitments

At 31 December 2020, the charity had total future minimum commitments in respect of non-cancellable operating leases as follows:

leases as follows:
Office equipment 2020
£		 2019
£
Amounts payable within one year
Amounts payable between two and five years		 6,898
26,133		 9,293
26,134
33,031 35,427

20 Pension schemes

A qualified actuary carried out a triennial review of the defined benefit scheme as at 1 January 2019; the actuarial valuation showed that the market value of the scheme’s assets was £823,000, which represents 141% of the benefits that accrued to members after allowing for expected future increases in earnings. The actuary has calculated that no contributions are payable from 1 January 2016.

Pension costs comprise £72,379 (2019 – £68,347) in respect of the defined contribution scheme and £4,172 (2019 – £5,493) in respect of Death in Service contributions.

Retirement benefits disclosure under FRS102

The actuarial valuation for FRS 102 purposes, at 31 December 2020, shows a pension surplus of £368,000 (2019 – £423,000), which cannot be recognised as this is not available to the Society by way of reduced future contributions. The amounts recognised in the balance sheet are as follows:

The amounts recognised in the balance sheet are as follows:
2020
£’000		 2019
£’000
Present value of funded obligations
Fair value of scheme assets
Surplus not recognised
Surplus in scheme at end of theyear and available to the Society		 (548)
916
(368)		 (488)
911
(423)
— —

Changes in the present value of the defined benefit obligations are as follows:

Changes in the present value of the defned beneft obligations are as follows:
2020
£’000		 2019
£’000
Opening defined benefit obligation
Interest cost
Re-measurement arising from changes in assumptions and experience
Closingdefined benefit obligation		 488
10
50		 461
13
14
548 488

Changes in fair value of scheme assets are as follows:

Changes in fair value of scheme assets are as follows:
2020
£’000		 2019
£’000
Opening scheme assets
Interest Income
Actual return on plan assets, excluding interest income
Closingscheme assets		 911
19
(14)		 823
24
64
916 911

52 ANNUAL REPORT & FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

The amounts recognised in other recognised gains and losses are as follows:

The amounts recognised in other recognised gains and losses are as follows:
2020
£’000		 2019
£’000
Remeasurement of defined benefit obligation
Return on plan assets
Effect of surplus restriction
Total		 50
14
(64)		 14
(64)
50
— —

The actual return on scheme assets was £5,000 (2019 – £88,000).

The major categories of scheme assets as a percentage of total scheme assets are as follows (fair value):

2020
%		 2019
%
41
21
13
8
17
100
45
17
11
8
19

Principal actuarial assumptions at the balance sheet date (expressed as a weighted average):

2020
%		 2019
%
Discount rate at 31 December
Retail Prices Index
Consumer Prices Index
Increases in deferment
Future pension increases – pension earned before 6 April 1997
Futurepension increases –pension earned after 6 April 1997

The current mortality rate assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectancy for a pensioner retiring at 65 on the balance sheet date is:

assumed life expectancy for a pensioner retiring at 65 on the balance sheet date is:
2020 2019
Retiring now
Male
Female
Retiring in 20 years
Male
Female		 20.2
22.4
21.5
23.8		 20.1
22.3
21.4
23.7

Amounts for the current and previous four periods are as follows (defined benefit pension scheme):

2020
£’000		 2019
£’000		 2018
£’000		 2017
£’000		 2016
£’000
Defined benefit obligations
Scheme assets
Surplus		 548
916
368		 488
911
423		 461
823
362		 493
846
353		 426
795
369

ANNUAL REPORT & FINANCIAL STATEMENTS 53

NOTES TO THE FINANCIAL STATEMENTS

21 Grants committed

Grants, principally fellowships and travel and research grants to the value of £287,819 have been committed for future payment, subject to certain conditions, specified by the Society, having been met (2019 – £405,748). These grants were not approved or communicated to the recipients until after the year end and therefore have not been accounted for in the year ended 31 December 2020.

22 Connected Charities and related party transactions

Since 2001, the Society has been the administration agent for the Trustees of FA Paneth Meteorite Collection, a charity connected to the Royal Astronomical Society. The Paneth Trustees decided that its income should support research in cosmochemistry by graduate and postdoctoral students. The accumulated net expenditure of £36,916 (2019 – £28,477), is included in Other Creditors. Due to the Covid-19 pandemic, no grants were awarded (2019 – £10,573). Total income was £8,439 (2019 – £11,670).

The Society also administers the Sir Norman Lockyer Memorial Trust, (charity registration number 900135). By agreement with the Charity Commission, the Society includes the following information within these financial statements. Each charity remains a separate legal entity. The Norman Lockyer Fellowship is awarded to enable an outstanding researcher to devote the majority of their time to research on an astronomical topic, including solar system and planetary science. They are named after Sir Norman Lockyer (1836–1920), pioneering solar astronomer and discoverer of helium. The fellowship is available every three years, with applications sought in the years 2013, 2016, 2019 etc for fellowships starting in the following year. The fellowship is open to those who hold a doctorate from a recognised institution of higher education at the time of taking up the award. Applicants must normally be 30 years of age or younger on 1 October of the year of appointment. The Society funds Fellows between spine points 30 and 36 (inclusive) on the UCU HE Framework single pay spine. The Norman Lockyer Fellowship is currently funding a three-year fellowship from October 2020, totalling £162,000. The fund balance, including the unspent balance in the restricted fund, is £1,828,652 (2019 – £1,856,461).

Transactions involving Trustees are disclosed in note 10.

There are no other related party transactions requiring disclosure.

54 ANNUAL REPORT & FINANCIAL STATEMENTS

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ADVANCING UNDERSTANDING
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Royal Astronomical Society Burlington House Piccadilly London W1J 0BQ +44 (0)20 7734 4582 or +44 (0)20 7734 3307 ras.ac.uk

56 ANNUAL REPORT & FINANCIAL STATEMENTS