SOCIETY FOR EXPERIMENTAL

BIOLOGY

Report of the Trustees and Financial Statements For 12 months ended 31 December 2015

Tudor John LLP Chartered Accountants and Statutory Auditors

Nightingale House 46-48 East Street

Epsom Surrey

KT17 1HQ

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CONTENTS

INTRODUCTION 2 REFERENCE AND ADMINISTRATIVE DETAILS ......2 STRUCTURE, GOVERNANCE AND MANAGEMENT .3

OBJECTIVES AND ACTIVITIES 6

ACHIEVEMENT AND PERFORMANCE 8 THE ANNUAL MAIN MEETING .......................8 SYMPOSIA ............................................ 10 MEMBERSHIP AND INTERACTIONS WITH MEMBERS ........................................................ 10 GRANTS .............................................. 11 PUBLICATIONS ...................................... 12 BRANDING ........................................... 12 WEBSITE ............................................. 13 COLLABORATIONS .................................. 13

PLANS FOR FUTURE PERIODS 14 SEB+ .................................................. 14 GRANTS .............................................. 15 STAFFING AND INFRASTRUCTURE ............... 15 COLLABORATIONS .................................. 15

FINANCIAL REVIEW 16 INVESTMENT POLICY AND PERFORMANCE OF INVESTMENTS ....................................... 16 PRINCIPLE AREAS OF INCOME AND EXPENDITURE ........................................................ 16 RESERVES POLICY .................................. 17

STATEMENT OF TRUSTEES RESPONSIBILITIES 18

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE SOCIETY FOR EXPERIMENTAL BIOLOGY (REGISTERED NUMBER: 1314879) 19

STATEMENT OF FINANCIAL ACTIVITIES 20

NOTES TO THE FINANCIAL STATEMENTS 22

DETAILED STATEMENT OF FINANCIAL ACTIVITIES 37

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INTRODUCTION

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2015. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE) (effective 1 January 2015). REFERENCE AND ADMINISTRATIVE DETAILS

Registered company number: 1314879 Registered charity number: 273795 Registered office: Charles Darwin House, 12 Roger Street, London, WC1N 2JU Trustees Dr Martin Watson University Lecturer Professor Patrick Hussey University Professor Professor Craig Franklin University Professor Dr Alun Anderson Resigned July 2015 Professor Gudrun De Boeck University Professor Dr Geoff Randall Resigned July 2015 Dr Geraldine Schofield Resigned July 2015 Professor Anthony Farrell Resigned July 2015 Professor Martin Parry Research Scientist Dr John Love University Lecturer Professor Victoria Buchanan-Wollaston University Professor Ms Sue Broom Journalist and Broadcaster – Joined July 2015 Professor Christine Raines University Professor – Joined July 2015 Mr Eamon Ray Finance Professional – Joined July 2015 Mr Greig D’Cruz Finance Professional – Joined July 2015 Dr George Littlejohn Post-Doctoral ResearchFellow Company Secretary Auditors Tudor John LLP Chartered Accountants and Auditors Nightingale House 46-48 East Street Epsom Surrey KT17 1HQ

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STRUCTURE, GOVERNANCE AND MANAGEMENT GOVERNING DOCUMENT

The charity is controlled by its governing document, a deed of trust, and constitutes a company limited by guarantee as defined by the Companies Act 2006. The Society for Experimental Biology is a company limited by guarantee governed by its Memorandum and Articles of Association dated 24th May 1977 and amended to ensure correct references to the Companies Act, 2006 and new governance arrangements on 1 July 2011. The Society is registered as a charity in England and Wales. Any person whose work or study involves experimental biology may join the Society provided either their application is endorsed by two existing members of the Society, or the applicant is studying for a qualification in biology which has an experimental component, or the applicant has had an academic paper accepted for publication by one of the journals published by the Society. As of 31 December 2013 there were 22112 members, each of whom agrees to contribute £1 in the event of the charity being wound up. In addition, we accept those with an interest in experimental biology as “Friends” of the Society. Friends are not Members of the Society and therefore do not have the rights conferred on Members.

APPOINTMENT OF TRUSTEES The trustees are: the President, Vice President, Honorary Treasurer, Honorary Publications Officer, Honorary Animal Section Chair, Honorary Cell Section Chair, Honorary Plant Section Chair, Honorary Chair of the Education and Public Affairs Section, a member of the Society elected by the Society’s members and three independent representatives who sit only on the Council and the Audit and Remuneration Committees. The section chairs are nominated by the membership and then elected by the members of the Society. The Vice-President is nominated by each section in turn then appointed by Council. The appointment is for two years and then the Vice President is appointed President for a further two years. The independent members are appointed by Council after a process of selection with the Council being mindful of any shortfall in knowledge or experience within its ranks. The final trustee is elected by members of the Society and the results of this election are reported at the Annual General Meeting. All members are circulated with invitations to nominate persons for trustee positions and are advised of retiring trustees.

INDUCTION AND TRAINING OF NEW TRUSTEES New members of the Society’s Council receive written information on the Society and the obligations of their position. A number of Trustees reside outside the UK so a range of induction methods are used to suit individuals. These include: a briefing on charity law and the legal obligations of trustees, the content of the Memorandum and Articles of Association, the structure of the Committees of the Society, the decision making process, the business plan and recent financial performance of the Society. New trustees will also meet key employees, where possible, and other trustees.

ORGANISATION The Board of trustees serves as the Council of the Society. It has 12 members who guide the strategy and administration of the Society. The Council meets three times a year and there are committees covering each of the scientific themes of the Society - Animal, Cell or Plant Biology and Education and Public Affairs (SEB+) - Audit and Risk, and Human Resources and Remuneration.

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All of the committees are chaired by one of the society’s trustees. In addition, there are ad hoc working groups to focus on targeted areas of business. A Chief Executive Officer is appointed by the Trustees to manage the day-to-day operations of the charity within a delegation framework approved by the Council. The members of each of the committees are listed below:

Animal Section Cell Section Plant Section Education & Public Affairs (SEB+)

Craig Franklin Chair

John Love Chair

Vicky Buchanan-Wollaston Chair

George Littlejohn Chair

Holly Shiels Jonathan Wilson Lewis Halsey Lynne Sneddon Michael Berenbrink Nic Bury Peter Aerts Rod Wilson Shaun Killen

Adam Benham Jim Murray John Girkin Patrick Hussey Nick Monk Katya Graumann Leah Band Karen Polizzi

Christine Raines Cristobal Uauy Colin Osborne Howard Griffiths Julian Hibberd Katherine Denby Mary Traynor (in attendance) Matthew Terry Peter Nixon Ruth Bastow Stefan Kepinski Steve Long Julia Davies Claire Halpin Geraint Parry

Alison Kingston-Smith Anne Osterrieder Bill Davies Graham Scott Jenny Sneddon Mary Williams Peter Lumsden Sarah Blackford (in attendance) Teresa Valancek Tijana Blanusa John Bothwell Esther Odekunle Sarah Marsham Sue Broom

Audit and Risk & Human Resources and Remuneration Committees Eamon Ray – Chair Greig D’Cruz Sue Broom Martin Watson

RISK MANAGEMENT The Council of the Society is responsible for the management of risk. Detailed considerations of risk are delegated to the Audit and Risk Committee which is assisted by senior staff. Risks are identified and assessed and controls are established throughout the year. The risk register is maintained by the Chief Executive and any changes are reported at each Council meeting. A formal review is undertaken on an annual basis. The key controls used by the Society include: a formal agenda for the Board; detailed terms of reference for all committees and working groups; strategic planning, budgeting and management accounting; a clear delegation of authority to the Chief Executive reviewed and approved by the Council; formal written procedures and hierarchical authorisation and approval levels.

The trustees are satisfied that the risk management processes have identified the major risks to the Society and that major risks have been mitigated satisfactorily as necessary. The trustees recognise that any risk management system can only provide reasonable but not absolute assurance that major risks have been adequately managed.

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Internal control risks are minimised by implementing procedures for authorisation and monitoring of expenditure. A key element in the management of financial risk is the setting of a reserves policy and its regular review by the Audit Committee which advises the Council. In addition, emergency procedures and contingency plans are in place and some of these are shared by the joint owners of the Society’s head office.

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OBJECTIVES AND ACTIVITIES

Experimental Biology is the study of the form and function of animals and plants at all levels of organisation from molecular and cellular to the whole organism and community scale. The ethos of Experimental Biology is one of interdisciplinary studies usually conducted within context of the evolution of the organism and its environment. The Society believes that the lack of boundaries explicit in experimental biology give it a pivotal role in the development of life sciences, which are of considerable benefit to Society. In particular, experimental biology contributes to knowledge that can be applied to the development of agriculture, medicine and the understanding of the impact of human activity on living organisms and ecosystems. The Society for Experimental Biology (SEB) aims to promote, and increase the influence of, Experimental Biology within the scientific community and Society by:

• developing the field of, and scientific careers in, experimental biology; • developing education and public awareness in experimental biology; • developing collaborative partnerships; • maintaining transparency, ethical and environmental sensitivity in every sphere of activity; • ensuring the financial viability of the Society.

In pursuit of its aims SEB’s activities include:

• the organisation and sponsorship of experimental biology conferences, both independently and in collaboration with other life science societies;

• the publication and dissemination of a range of scientific literature; • education, careers and policy work; • the administration of travel grants for young researchers; • offering membership to experimental biology researchers in academia and industry working

at post-graduate level and above.

The Trustees have had due regard to the Charity Commission guidance on public benefit in setting its aims and objectives and these are to:

1. Encourage and support the practice of, and scientific careers in, experimental biology in research and development programmes in universities, institutes, government bodies and the private sector throughout the world.

2. Help the public understand the value that experimental biology brings to their lives and how to use information derived from experimental biology to make informed decisions.

3. Develop and maintain thriving partnerships with other learned societies that have common objectives and to encourage support for experimental biology from decision makers and funding organisations.

4. Set the highest ethical standards in all the Society’s activities in order that it is seen as an open and transparent organisation that holds the improvement of the lives of people and the environment as core values.

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5. Maintain robust financial performance and governance structures that support the 4 aims

above.

The activities that provide direct benefit include: • Publishing publicly available journals and scientific texts • Organising scientific conferences and courses that are open to all • Providing educational materials for outreach • Participating in sessions at public science festivals • Advising and responding to Government and other relevant consultations • Developing the subject of experimental biology • Developing opportunities for young scientists and careers in the field.

The main objectives for the reporting period were to focus on the promotions of research and interchange of results, hypotheses and opinions. In addition, in view of the financial constraints imposed on academic and other institutions to review the grants offered to students for further study. The strategies employed to achieve the Society’s objectives are to:

• Organise an Annual Main Meeting and Annual Symposia offering the opportunity for experimental biologists to meet together and disseminate and discuss the results of their research and/or aspects of biological education.

• Provide support to a thriving membership community • Publish a monthly electronic newsletter and bi-annual Bulletin to keep members informed of

the activities of the Society and those opportunities available to influence other organisations.

• Provide an online area to allow members to access a number of functions which promote community.

• Provide access to the public through social media to allow the public to be informed about the Society and its activities.

• Publish high quality journals and books on all aspects of experimental biology. • Provide grants and other funding to encourage networking, the exchange of ideas and the

study and understanding of experimental biology. • Support members with grants to hold meetings within their own institutions.

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ACHIEVEMENT AND PERFORMANCE

In this section we set out the key activities undertaken in 2015 THE ANNUAL MAIN MEETING

In 2015 SEB held its Annual Main Meeting in Prague (Czech Republic). The Meeting attracted over 1100 delegates and was well publicised in specialist scientific media and by the BBC. The Annual Main Meeting also provides an opportunity for PhD students and early career scientists to network with more established scientists and SEB recognises the contribution of Young Scientists through prizes for the best talk and the work of more established scientists through Presidents’ Medals.

Each year at the SEB Annual Meeting, we honour George Parker Bidder and Harold Woolhouse with two major plenary lectures and in 2012, we introduced a Cell Section Plenary Lecture. The lectures are given by scientists prominent in their field and are nominated by the animal, plant and cell sections respectively. This year the Bidder lecture was presented by Andy Cossins (University of Liverpool), the Woolhouse Lecture by Andrew Millar (SynthSys, University of Edinburgh), and the Cell Section Plenary Lecture by by John Oxford (University of Oxford). The topics ranged from the effects of circadian rhythms on gene regulation, through to the ‘flu epidemic on the First World War.

During meeting in Prague, delegates gathered to celebrate the official launch of the new SEB+ Section, which replaces the Education & Public Affairs (EPA) Section. Building on the EPA’s excellent record of achievement, an implementation plan for SEB+ had been presented at, and approved by, SEB Council in March 2015: the new Section encompasses four key areas that are central to the SEB membership’s interests and these have since been formalised into four convenor groups, each assigned a lead: Teaching and Learning (Graham Scott); Science communication (Anne Osterrieder); Career development (Sarah Blackford); Equality and diversity (Teresa Valencak).

During the launch of SEB+, the interim chair, Dr Alun Anderson, formally handed over to the newly elected chair, Dr George Littlejohn who said, “This rebranding is an excellent opportunity to become much more involved in what we are trying to do. By getting more membership involvement and building capacity we will be able to do more and really help to enhance the careers of our early career scientists and students”. The Prague meeting witnessed a highly successful programme of SEB+ events, ranging from innovations in academic teaching to career sessions for PhD students and postdoctoral researchers. With large numbers of delegates in attendance, providing positive feedback, SEB+ was encouraged to plan for an ambitious programme at the main meeting in Brighton, as well as other events and activities during 2016.

Other SEB+ activities in Prague included:

CAREERS DAY

The pre-conference Careers Day focussed on enhancing careers through extra-research activities and communication. For PhD students and early career scientists, attending big conferences and meetings can sometimes feel overwhelming. So before the main meeting, this event served to provide some time and space for early career delegates to focus on their career progress so far and equip them with some of the tools needed for visionary planning and strategic goal making.

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The focus of the morning session was on networking and effective communication, involving lots of activities and discussion. After lunch the participants split into two groups with one focussing on how to write an effective CV and the other receiving advice on the ins and outs of publishing. Feedback was excellent for both workshops with delegates saying, “This is the first time I have had any CV training in my life and it has been really useful, especially to see the difference between a CV for industry and academia” and “I was really not sure about the actual step-by-step process of publishing so the session was really interesting and informative. As a PhD student or researcher, it is almost mandatory that you publish articles and this can be really stressful”.

SCIENCE WITH IMPACT SESSION. RISING CO2 – IT’S NOT JUST ABOUT GLOBAL WARMING

Doing science in the laboratory has its own rewards, but doing science that helps change the world, that inspires people and changes the way they think is even better. That was the central message of the SEB+ Science with Impact session, where four prominent speakers explained to the delegates why their research really mattered. This included tackling big issues, pushing to change global policy and inspiring people to use their science to make a difference.

INNOVATIONS AND BEST PRACTICES IN UNDERGRADUATE EDUCATION

This one-day session organised proved to be a great success in attracting new delegates to the SEB Meeting with teaching at the forefront of their mind (and their university role). The aim of the session was to bring together people to share ideas, learn from each other, and build a community with similar interests in high-quality, undergraduate education. Judging from the reactions of the >60 participants, the session was a great success; the mood was friendly and supportive with a lot of stimulating discussion following each presentation. IN addition to the session itself, George Littlejohn coordinated the submission of education research papers to the SEB Prague F1000Research Channel, to extend the reach of the research and increase the academic kudos of the session. http://f1000research.com/channels/undergraduate-education

WOMEN IN SCIENCE LUNCH

Attracting over 10% of the conference delegation (with about 10% male diners), our guest speaker for this meeting was Dr Susan Singer, Division Director of Undergraduate Education at NSF and Laurence McKinley Gould Professor, in the Biology and Cognitive Science Departments at Carleton College, USA. The subject of her talk was leadership and the multiple ways in which it is possible to take the lead. After-dinner discussion turned out to be more lively than usual and, following enthusiastic agreement to broaden the focus of the event to encompass diversity and inclusion, it was decided to change the name of future events to reflect the consensus that “Individuals do not always fit easily into gender stereotypes and discrimination at work happens on many different levels. It’s time to accept people for who they are, not for who we expect them to be. We need equality for all and support for all kinds of people and parents”.

MEET THE ACADEMICS

This one-hour lunchtime Q&A session with the SEB’s academic leaders, “Meet the Academics” gave early career researchers a rare chance to hear from the SEB’s honorary leaders, including the president, vice president and section chairs. Each of the panel speakers gave a brief account of their own scientific journeys to date, after which the floor was opened to the audience of over 100 for questions.

In 2015 SEB contributed £37, 195 to support its Annual Main Meeting and the trustees would like to thank the scientific organisers for helping to this and other meetings a success.

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SYMPOSIA The Annual Main Meeting is the centrepiece of the SEB’s meetings offering but in 2015 the Society also ran a Plant Symposium in Foz do Iguassu (Brazil). The symposium was a joint collaboration with the Global Plant Council and focused on Stress Resilience. In order to feed an expanding global population in the next decades, it is crucial to increase food production in a sustainable manner, and to improve crop resilience to the stresses generated by reduced inputs and changes in climate. Out of the symposium came a better understanding of the mechanisms by which plants interact with and respond to their environments and why building stress resilience in plants is important to food security given the FAO prediction that the world population will rise to 9.6 billion by 2050.

MEMBERSHIP AND INTERACTIONS WITH MEMBERS

In 2015 the Society changed it’s the reporting period for membership from a fixed membership year (running from 1 October to 30 September) to a rolling membership year which means a person’s membership subscription now start on the date on which he/she is accepted into membership. In addition, membership reporting also changed from reporting for a 1 October-30 September period, to now reporting on a calendar year basis which means membership figures for this year and for previous years are not directly comparable. At the end of 2015 the Society’s membership reached 2212 members with 664 new members being welcomed to the Society in 2015. The Society’s international reach has also seen an increase with 57.7% of members being based in Europe and Rest of the world and 42.90% in United Kingdom. This means that 944 members are based in UK, 579 in Europe (excluding UK) and 675 in the Rest of the world. Comparatively 629 new members were welcomed to the Society in the 2013-2014 membership year which means the Society’s membership grew to 2400 members by the end of 2014 representing a 7.2% increase in membership in comparison to 2013. The Society’s international reach also increased with 953 members (42.6%) based in the UK, 656 (29.4%) based in Europe and 626 (28%) based in the rest of the world.

The main methods for keeping in touch with members are social media, a monthly e-bulletin and a bi-annual printed bulletin. These communication routes are supported by the Society’s website which contains up to date information on meetings, job opportunities and forthcoming events.

CAREER WORKSHOPS

In addition to organising events at the main meeting, career development group convenor, Sarah Blackford, also delivered career education workshops for bioscience students and early career researchers ranging from a 1 hour plenary – 2 days during 2015 at universities, institutes and during conferences in Europe and the US. The topics covered included self-awareness and analysis, career choice, effective networking and communication, preparing to postdoc, CV and interview technique.

SCIENCE COMMUNICATION SEB+ employs a science communication intern each year who, under the supervision of the head of Education & Public Affairs, writes press stories based on the research presented at the SEB’s main meeting. Anthea Lacchia (University College Dublin) won the position in 2015 and wrote over 10 press stories, after which she successfully secured a one-year post with Nature in their press office. Our previous intern, Caroline Wood, attended the main meeting in Prague where she wrote up a number of feature articles for our news bulletin and we also welcomed BBC journalist, Vic Gill and German Public Radio broadcaster, Michael Stang, who also contributed to increasing the impact of our meeting. We have been engaging more science writers to increase coverage of the SEB’s activities and member’s research and hope to extend this further in the future through social media.

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EQUALITY AND DIVERSITY SEB+ collaborated with its sister societies at Charles Darwin House in December 2015 to organise a free workshop for academic staff who are responsible for achieving equality and diversity policies in their institutions in line with the Athena SWAN charter. With over 60 delegates and positive feedback about the quality of the speakers and networking opportunities, we plan to organise this event again in 2016.

GRANTS

The Society continues to offer grants to students and young scientists to attend meetings, undertake development opportunities with other scientists, or attend field trips. The main source of income for these grants is the Company of Biologists and grants are made available on a quarterly basis.

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In 2015 the Company of Biologists maintained the same level of financial support to the SEB’s grant scheme (£35,000). The funding enabled us to support 95 students and early career scientists in 2015 in attending conferences, training workshops or taking research trips.

In addition, the Society funds grants for students and Early Career Scientists to attend its Annual Meeting. A total of £14,346 was distributed in grants to 132 students and early career scientists in 2015, to help with attendance at SEB’s 2015 Annual Meeting in Prague. In 2014 SEB continued to support the Society of Biology by contributing to the work of its Parliamentary Officer and to support the UK Plant science Federation (UKPSF). These grants totalled £15,000. The type of grants made available to SEB Members has remained unchanged for some time so in 2015 we undertook a grants survey which sought input from members on the type of grants members felt would better support their careers and professional development. Although grants for travel and for technical exchange visits continue to be highly regarded members also identified the following areas for support:

• Funding for Small (existing) projects • New academic Researchers • Researchers in Emerging Countries • Senior Post-docs and mid-career researchers • Job seekers and those returning to science • Faculty members focused on education • Parents and carers to enable continuing engagement with science

It is not going to be possible for SEB to fund all the proposed grants with meaningful amounts so in 2016 we will be refining our grants offer and seeking support funding from other organisations.

PUBLICATIONS

SEB journals continue to be ranked highly among other journals publishing similar scientific papers and to be well regarded by the communities they support. The 2014 impact factors for the journals were as follows:

• Journal of Experimental Botany – 5.526 (2014 5.794) • Plant Journal – 5.972 (2014 6.815) • Plant Biotechnology Journal – 5.752 (2014 5.677) • Conservation Physiology – no impact factor

Income from journal publication continues to be the largest source of revenue for SEB and remains central to the Society’s key aim to promote the science of experimental biology.

BRANDING

Work on developing a new brand for was completed in 2015 and the roll out will continue in 2016. We were assisted in developing a new brand by Mark Radda, http://www.radda.com , and Purpose, http://www.purpose.co.uk . We would like to thank both organisations for their enthusiasm for their work and the support given to both the SEB staff and Council.

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WEBSITE

Work on a new website began late in 2015 and will continue in to 2016. SEB’s contractors for developing the new website were Quba, http://www.quba.co.uk, with professional support from Nick Hanling at Indigoblue, http://www.indigoblue.co.uk. We would like to thank both organisations for their support.

COLLABORATIONS

SEB continues to share offices and services with four other organizations as part of the biology hub established by SEB and two other organizations in 2010. In addition, existing publishing partnerships with Wiley and Oxford University Press continue and opportunities for new collaborations are under review.

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PLANS FOR FUTURE PERIODS

In 2016 the Society will continue to develop its offering to the experimental biology community. SEB+

Following its first formal group meetings in March 2016, SEB+ is aiming to develop its strategy further and build capacity by encouraging others to get involved in its activities. Preliminary activities organised for this year are likely to be extended once groups have met and made more detailed plans around their areas of interest. Current activities include the following:

TEACHING AND LEARNING Education symposium meeting (CDH, 12th-13th December 2016) Creativity in Undergraduate Biology Teaching The SEB+ 2016 Education Symposium will explore the role of creativity in undergraduate biology teaching. Confirmed contributors include Professor Mark Langan (Manchester Metropolitan University) who has an interest in playful learning; Dr John Wedgwood Clark (University of Hull), a poet interested in the use of language by biology students; Dr Mark Feltham (Liverpool John Moores University), an advocate of maker education; Dr Chris Willmott (Leicester University) who uses video extensively in his teaching practice; and, Dr George Littlejohn who sees the act of research as an intrinsically creative process. A call for poster and spoken paper contributions is now open. Enhancing Biology Education is the subject of the one-day Teaching & Learning session during the SEB’s main meeting in Brighton. Split into two halves, the morning session will focus on enhancement in biology education, whilst in the afternoon session diversity and inclusivity will be the subject of consideration.

CAREER DEVELOPMENT A comprehensive programme of career events is being organised for the main meeting in Brighton with a Career Day aimed at PhD student and early career delegates. The event will include opportunities for networking, as well as how to communicate with the media and public in writing and through broadcast. A further lunch-time event will see newly appointed academics (including the SEB’s president’s medallists 2016) advising postdoctoral researchers and PhD students who wish to secure an academic career, based on their own experience. Finally, we will offer career guidance and information throughout the week. A series of career workshops are delivered throughout the year to assist researchers who are unable to travel to our main meeting. These are held in universities and research institutes in Berlin, Vienna, Strasbourg, Antwerp and Stockholm and in 2016 will include the following scientific and career conferences: EMBO meeting in Mannheim; Naturejobs Expo, London and the European Science Open Forum (ESOF 2016) meeting in Manchester. Further, we will provide guidance skills training, in association with the Association of Graduate Careers Advisory Services, for personnel who support PhD students and early career researchers across Europe in a dedicated training event on 19th and 20th April (Warwick University).

SCIENCE COMMUNICATION Our Science with Impact session at the main meeting 2016 will, for the first time, engage with a public audience. The subject of Biodiversity will form the basis of presentations from our three speakers in the fields of plant, environmental and marine biology.

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The Creative communication’ session at the SEB main meeting in Brighton will be split into two days. Led by former Council member and New Scientist editor, Alun Anderson, and current Council member and former BBC broadcaster, Sue Broom, this session promises to offer our delegates quality training in two major forms of science communication. The idea for the session is not only to offer training but to ‘recruit’ communicators amongst our own delegates and members in order to build capacity for the SEB in this important area. SEB+ will engage its annual intern and has invited science writers and journalists to attend the main meeting to ensure our delegates’ research is considered for wider communication to the media and public.

EQUALITY AND DIVERSITY

One of the main priorities for the equality and diversity group is to conduct a GAP analysis of the SEB to determine where it is now and the progress it would like to make in the coming years. It is particularly keen to ensure that guidelines are put in place for meeting and session organisers to refer to, ensuring a balance of speakers at its meetings. Furthermore, it conducted a similar exercise with regard to committee membership, awards, etc. In 2016, the women in science dinner at the annual meeting is being replaced by the ‘DiveIn’ dinner which will see its first male speaker since its inception over 10 years ago.

GRANTS

With the exception of the annual PhD grant, which has now been discontinued, the SEB grant offering has remained unchanged for a number of years. The Company of Biologists continues to fund travel grants to the extent of £35,000 a year and this grant will continue. In 2016 we will be building on the results of the 2015 grants survey of members to determine which grants will be introduced and how those grants will be funded appropriately. We have already identified a need for support to attend meetings for those who have caring responsibilities and there may be other grants necessary to support our work on Equality and Diversity.

STAFFING AND INFRASTRUCTURE With the advent of the new website we will take the opportunity to look at staffing. It is intended that the new website will provide a better and more interactive experience for members and engage more helpfully with those experimental biologists who are not currently members of the SEB. To achieve this aim we will review our internal and external communications and organisational resilience and investigate engaging additional resource generally to improve communications.

COLLABORATIONS SEB is part owner of two buildings providing office accommodation for bioscience organisations. In 2015 the second building, 107 Gray’s Inn Road, became available and space is available to rent. We hope this will result in three other organisations joining the biosciences hub which was established by SEB and two sister organisations in 2010.

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FINANCIAL REVIEW

In this section we provide highlights of income and expenditure which we hope expand on the formal accounts that follow. In 2015 SEB achieved a surplus of £292,331 (year to December 2014 £126,403) which includes an unrealised gain on investment assets of £139,882.

INVESTMENT POLICY AND PERFORMANCE OF INVESTMENTS

The Society’s investment portfolio is managed by Brooks Macdonald and a representative of that organisation makes regular presentations to the Audit Committee on investment performance. SEB assets are invested in a medium risk fund and the fund manager has latitude to manage funds within the limits imposed by SEB. Generally the Society’s policy is to optimise investment performance through income generation and capital growth. The final quarter of 2015 ended the year on a positive note, with many markets reversing the declines they suffered in the preceding period. However, 2015 was a tumultuous year, characterised by diverging regional economic fortunes and policy trends, where positive currency-adjusted returns were difficult to achieve. At the end of 2015 the investment portfolio was valued at £1,047,023 (2014 - £1,020,608) an increase of 2.6% over 2014.

PRINCIPLE AREAS OF INCOME AND EXPENDITURE

The principal source of Society income is from the publication of its journals. In 2015 income received from publications was £1,799,606 (2014 -£1,778,482) which represents a year on year increase in income of £21,124 (1.2 %). Journal income continues to be maintained. Although the threat to income of a wholesale move away from subscription income to author pays income continues to exist the academic journals market seems to be settling down into a mixed income model combining subscription income and income from author fees. The Journal Conservation Physiology will be introducing author fees in 2016 and the Plant Biotechnology Journal will switch from subscription income to author pays income at the same time which means the Society’s income from publications will not reply wholly on subscription income thus providing some resilience from changes in the income model.

The Annual Main Meeting remains the principle source of funding and expenditure for meetings. The venue for the meeting moves from year to year and the number of attendees varies according to location. In 2015 the Annual Main Meeting was held in Prague, Czech Republic and generated an income of £240,961 against direct expenditure £278,156 resulting in a loss of £37,195 excluding staff costs (2014, loss of £105,183). The Society is focused on making its meetings cost neutral over the next five years and it is good to see that, despite the vagaries introduced by location, recent actions to improve income and reduce expenses are proving to be successful.

The Society’s property 3, The Carronades, Southampton is fully let until November 2016 with only the ground and first floors being let thereafter until November 2021. Advice from local agents and surveyors suggest that the building could be converted into three apartments and permission for a change of use should be easy to obtain. However, it is not cost beneficial to buy out the remaining period of the existing lease to realise good value from this asset at this time.

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RESERVES POLICY The Council has established the level of reserves as being no less than 12 months of operating expenditure. At its meeting in November 2013 the Trustees considered a number of scenarios concerning the possible impact of a fall in income from journals. As a result of those discussions it is considered prudent to ensure the Society has an additional £1M available in free reserves to ensure the Society can continue its activities through a potential change in journal income. The current level of funds exceeds that stipulated by the reserves policy but it is anticipated that the new grants will eat into the reserves once the grants are up and running.

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STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees (who are also the directors of The Society for Experimental Biology for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

- select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to

presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

- there is no relevant audit information of which the charitable company's auditors are

unaware; and - the trustees have taken all steps that they ought to have taken to make themselves

aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS The auditors, Tudor John LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.............................................

Dr M Watson - Trustee

19/38

Report of the Independent Auditors to the Members of The Society for

Experimental Biology (Registered number: 1314879)

We have audited the financial statements of The Society for Experimental Biology for the year ended 31 December 2015 on pages eleven to twenty seven. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective January 2015) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND AUDITORS As explained more fully in the Statement of Trustees Responsibilities set out on page seven, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law andInternational Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors, including APB Ethical Standard - Provisions Available for Small Entities (Revised), in the circumstances set out in note 28 to the financial statements

SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the charitable company's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Report of the Trustees to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

OPINION ON FINANCIAL STATEMENTS In our opinion the financial statements:

- give a true and fair view of the state of the charitable company's affairs as at 31 December 2015 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

20/38

OPINION ON OTHER MATTER PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept or returns adequate for our audit have not

been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to prepare the financial statements in accordance with the small

companies regime and take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Hazel Mulhall, BSc (Hons) FCA DChA (Senior Statutory Auditor) for and on behalf of Tudor John LLP Chartered Accountants and Statutory Auditors Nightingale House 46-48 East Street Epsom Surrey KT17 1HQ

Date: .............................................

20/38

The notes form part of these financial statements

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 December 2015

2015 2014

Unrestricted funds

Restricted funds

Total funds Total funds

Notes

£ £ £ £

INCOME AND ENDOWMENTS FROM Donations and legacies 2 485 - 485 1,718 Charitable activities 4 Subscriptions 60,997 - 60,997 64,838 Grants, awards and prizes - 45,000 45,000 35,000 Meetings and symposia 250,811 - 250,811 198,736 Journals and other publications 1,799,606 - 1,799,606 1,778,482 Education and public affairs 13,572 - 13,572 19,848 Bulletin 3,000 - 3,000 1,650 Other Incoming Resources - - - 514 Investment income 3 55,702 - 55,702 98,274

Total 2,184,173 45,000 2,229,173 2,199,060 EXPENDITURE ON Raising funds Raising donations and legacies 10,034 - 10,034 5,960 Investment management costs 5 28,830 - 28,830 31,354

38,864 - 38,864 37,314

Charitable activities 6 Subscriptions 117,923 - 117,923 94,083 Grants, awards and prizes 119,986 34,108 154,094 157,780 Meetings and symposia 485,420 900 486,320 383,802 Journals and other publications 1,100,518 - 1,100,518 1,062,136 Education and public affairs 112,115 - 112,115 113,553 Bulletin 66,890 - 66,890 35,054

Total 2,041,716 35,008 2,076,724 1,883,722

NET INCOME 142,457 9,992 152,449 315,338 Other recognised gains/(losses) Gains/(losses) on investment assets 139,882 - 139,882 (188,935)

Net movement in funds 282,339 9,992 292,331 126,403 RECONCILIATION OF FUNDS Total funds brought forward 3,711,632 10,326 3,721,958 3,595,555

TOTAL FUNDS CARRIED FORWARD 3,993,971 20,318 4,014,289 3,721,958

21/38 The notes form part of these financial statements

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Balance Sheet At 31 December 2015

2015 2014

Unrestricted funds

Restricted funds

Total funds Total funds

Notes

£ £ £ £

FIXED ASSETS Tangible assets 18 577,930 - 577,930 611,928 Investments

Investments 19 1,046,881 - 1,046,881 1,028,608 Investment property 20 963,600 - 963,600 752,449

2,588,411 - 2,588,411 2,392,985

CURRENT ASSETS Debtors 21 793,031 - 793,031 907,831 Cash at bank and in hand 974,849 20,318 995,167 686,990

1,767,880 20,318 1,788,198 1,594,821

CREDITORS Amounts falling due within one year 22 (362,320) - (362,320) (265,848)

NET CURRENT ASSETS 1,405,560 20,318 1,425,878 1,328,973

TOTAL ASSETS LESS CURRENT LIABILITIES

3,993,971

20,318

4,014,289

3,721,958

NET ASSETS 3,993,971 20,318 4,014,289 3,721,958

FUNDS 23 Unrestricted funds 3,993,971 3,711,632 Restricted funds 20,318 10,326

TOTAL FUNDS 4,014,289 3,721,958

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015). The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalf by: ............................................. Dr M Watson -Trustee

22/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the financial statements for the year ended 31 December 2015 1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charitable company have been prepared in accordance with the Charities SORP (FRSSE) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE) (effective 1 January 2015)', the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The principle accounting policies of the charitable company have remained unchanged from the previous year.

INCOME All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Subscriptions All annual subscriptions due and received during the year are treated as income of that year. Life subscriptions and five yearly subscriptions are carried forward and written off over a period of fifteen years and five years respectively. Royalties, Journals and other publications The Society accounts for all income and related expenditure on journal sales and other publications on an accruals basis. Royalties are recognised in the financial statements as they are received or become receivable. Other income excluding meetings All other income, excluding meetings activities, is accounted for on a receivables basis. Meetings The meetings committee has responsibility for the administration of all Society meetings with certain administrative tasks delegated to designated employees. All income is accounted for when receivable and all expenditure is accounted for on an accruals basis. On the conclusion of each meeting any surplus arising there from is identified, and deficit being met by the Society in the period to which it relates. Grants Grant income is recognised when received or reasonably certain that the grant will be received, whichever is the sooner. EXPENDITURE Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

23/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 1. ACCOUNTING POLICIES - continued

ALLOCATION AND APPORTIONMENT OF COSTS Costs of generating funds comprise the costs associated with attracting voluntary income. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, other are apportioned on an appropriate basis e.g time spent.

TANGIBLE FIXED ASSETS Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings - 2% on cost Plant and machinery etc - 25% on cost

Where indication exists that there has been an impairment to the value of a fixed asset an impairment review is carried out. Items purchased costing less than £500 are not capitalised and are expensed through the Income Statement of Financial Activities.

INVESTMENTS AND INVESTMENT PROPERTIES Investments are included in these accounts at their market value; realised and unrealised gains or losses arising are included in the Statement of Financial Activities. Income arising from these investments is recorded on a receivable basis within investment income in the Statement of Financial Activities.

TAXATION The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. FOREIGN CURRENCIES Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

24/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 2. DONATIONS AND LEGACIES

2015 2014 Unrestricted Restricted Total Total

funds funds funds funds £ £ £ £

Donations 485 - 485 1,718

3. INVESTMENT INCOME

2015 2014 Unrestricted Restricted Total Total

funds funds funds funds £ £ £ £

Investment income 55,702 - 55,702 98,274

4. INCOME FROM CHARITABLE ACTIVITIES

2015 2014 Activity £ £ Subscriptions Subscriptions 60,997 64,838 Grants Grants, awards and prizes 45,000 35,000 Main meeting income Meetings and symposia 240,961 145,094 Symposium meeting income

Meetings and symposia 9,850 53,642

Journals and other publications

Journals and other publications

1,799,606

1,778,482

Education and public affairs

Education and public affairs 13,572 19,848

Bulletin Bulletin 3,000 1,650 Other Income Other Incoming Resources - 514

2,172,986 2,099,068

Grants received, included in the above, are as follows:

2015 2014 £ £

COB travel grant 35,000 35,000 Young leaders grant 10,000 -

45,000 35,000

25/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 5. INVESTMENT MANAGEMENT COSTS

2015 2014 Unrestricted Restricted Total Total

funds funds funds funds £ £ £ £

Portfolio management 8,712 - 8,712 8,178 Support costs 20,118 - 20,118 23,176

28,830 - 28,830 31,354

6. CHARITABLE ACTIVITIES COSTS

Direct costs

Grant funding of

activities

Support

costs

Totals

(See note 7) (See note 8) £ £ £ £

Subscriptions 66,443 - 51,480 117,923 Meetings and symposia 368,893 - 117,427 486,320 Journals and other publications 865,914 - 234,604 1,100,518 Education and public affairs 83,769 - 28,346 112,115 Bulletin 52,694 - 14,196 66,890 Grants, awards and prizes - 149,009 5,085 154,094

1,437,713 149,009 451,138 2,037,860

7. GRANTS PAYABLE

2015 2014 £ £

Grants, awards and prizes 149,009 153,855

The total grants paid to institutions during the year was as follows:

2015 2014 £ £

Support grants 26,457 25,000

The total grants paid to individuals during the year was as follows:

2015 2014 £ £

Travel grants 48,454 47,404 PHD scholarships 74,098 81,451

122,552 128,855

26/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 8. SUPPORT COSTS

Management

Other

Governance costs

Totals

£ £ £ £ Investment management costs 20,118 - - 20,118 Subscriptions 29,945 6,088 15,447 51,480 Grants, awards and prizes 2,473 2,100 512 5,085 Meetings and symposia 74,786 25,036 17,605 117,427 Journals and other publications 164,588 - 70,016 234,604 Education and public affairs 16,029 634 11,683 28,346 Bulletin 8,064 140 5,992 14,196

316,003 33,998 121,255 471,256

Support costs, included in the above, are as follows:

Investment management

costs

Subscriptions

Grants,

awards and prizes

Meetings and

symposia

£ £ £ £ Property expenses 20,118 2,897 - 2,897 Interest payable and similar charges

-

2,401

-

9,871

Depreciation of tangible fixed assets

-

6,088

2,100

25,036

Telephone - 13 - 14 Postage and stationery - 3,070 - 3,071 No description - 21,564 2,473 58,933 Wages - 14,753 - 14,752 Auditors' remuneration - 274 201 1,122 Accountancy and legal fees

- 420 311 1,731

20,118 51,480 5,085 117,427

2015 2014

Journals and other

publications

Education and public

affairs

Bulletin

Total activities

Total activities

£ £ £ £ £ Property expenses 9,729 2,264 1,170 39,075 32,025 Interest payable and similar charges

-

-

-

12,272

9,678

Depreciation of tangible fixed assets

-

634

140

33,998

34,176

Telephone 47 11 6 91 59 Postage and stationery 10,313 2,400 1,240 20,094 15,396 No description 144,499 11,354 5,648 244,471 141,288 Wages 49,542 11,528 5,958 96,533 79,703 Auditors' remuneration 8,051 61 13 9,722 8,649 Accountancy and legal fees

12,423 94 21 15,000 15,058

234,604 28,346 14,196 471,256 336,032

26/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 9. NET INCOME/(EXPENDITURE)

The turnover and net incoming/(outgoing) resources area attributable to one activity, which is carried on in a single geographical market. The net incoming resources are stated after direct charitable expenditure and management and administration expenses.

10. TRUSTEES' REMUNERATION AND BENEFITS

One member of the council received emoluments during the year of £12,000 (2014: nil) for services rendered as the Editor in Chief for The Journal of Experimental Botany. The institutions that the council members work for are entitled to receive a flat rate honorarium of £1,000. During the year the total amounts of honorarium paid was £8,000 (2014: £7,000).

TRUSTEES' EXPENSES

Total expenses paid to trustees for attending council meetings was £6,550 (2014 - £10,906) and amounts paid for other trustee expenses and Society committee meetings was £11,715 (2014 - £6,748). The total number of trustees in receipt of payment of expenses in the year was 13.

11. STAFF COSTS

The average number of employees of the company during the year and their aggregate emoluments are shown below: Year ended Year ended 31.12.2015 31.12.2014 £ £ Wages and Salaries 219,307 198,931 Social Security 20,091 18,848 Pension 26,194 20,128 265,593 237,907 The average number of employees of the company during the year was 6 (2014: 5). The Society also employs 6 staff via Lancaster University at a total cost of £214,237. Staff costs are apportioned to the Charities activities during the year using the following percentages: Journals and other publications 52.7% Meetings 15.8% Membership 13.0% Education and Public Affairs 12.2% Bulletin 6.3% One employee received remuneration in the band £80,000 - £90,000.

28/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted funds

Restricted funds

Total funds

£ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,718 - 1,718 Charitable activities Subscriptions 64,838 - 64,838 Grants, awards and prizes - 35,000 35,000 Meetings and symposia 198,136 600 198,736 Journals and other publications 1,778,482 - 1,778,482 Education and public affairs 19,848 - 19,848 Bulletin 1,650 - 1,650 Other Incoming Resources 514 - 514

Investment income 98,274 - 98,274

Total 2,163,460 35,600 2,199,060

EXPENDITURE ON Raising funds 37,314 - 37,314 Charitable activities Subscriptions 94,083 - 94,083 Grants, awards and prizes 122,666 35,114 157,780 Meetings and symposia 383,602 200 383,802 Journals and other publications 1,062,136 - 1,062,136 Education and public affairs 113,553 - 113,553 Bulletin 35,054 - 35,054

Total 1,848,408 35,314 1,883,722

NET INCOME 315,052 286 315,338

Other recognised gains/(losses) Gains/(losses) on investment assets (188,935) - (188,935)

Net movement in funds 126,117 286 126,403

RECONCILIATION OF FUNDS

Total funds brought forward 3,585,515 10,040 3,595,555

TOTAL FUNDS CARRIED FORWARD 3,711,632 10,326 3,721,958

29/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 13. SCIENTIFIC INTEREST GROUP FUNDS

Included in the results for the year are to following movements on subsidiary sections:

As at 31 December

2014

Central Allocations

Central Expenditure

At 31 December

2015

Central Reserve Central Reserve

£ £ £ £ Animal Respiration 1,308 1200 1,540 968 Biomechanics 2,201 600 - 2,801 Cell Cycles 2,380 600 1,000 1,980 Cell and Maths 2,333 600 1,500 1,433 Cell Signalling 3,106 600 1,000 2,706 Cell and Systems 3,000 600 2,300 1,300 Conservation Physiology 1,760 600 1,500 860 Crop Molecular Genetics - 1,200 - 1,200 Cytoskeleton 2,850 600 1,000 2,450 Ecophysiology (formerly Energetics and Environmental Physiology)

3,230

600

2,980

850 Endocrinology (formerly General Comparative Endocrinology Group)

1,172

600

1,690

82 Integrative Plant Biology 912 600 500 1,012 Neurobiology 150 600 750 - Osmoregulation 1,263 600 1,625 238 Plant Development 1,280 600 500 1,380 Plant Biotic Interactions 1,668 600 500 1,768 Plant Environmental Physiology

1,348 600 - 1,948

Photosynthesis and Metabolism (formerly Plant Metabolism)

302

600

1,000

98

Plant Transport - 600 - 600 Physical Cell 2,334 600 1,500 1,433 Thermobiology 2,230 600 1,800 1,030 34,827 13,800 22,685 25,942

14. SECTION SATELLITE FUNDS

Central Allocations

Central Expenditur

e

Underspend forfeited

£ £ £ Animal Section 5,000 5,000 - Plant Section 5,000 - 5,000 Cell Section 5,000 - 5,000 Education Section 5,000 - 5,000 20,000 5,000 15,000

30/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 15. PUBLICATIONS

The Society produce three journal publications and two book series. The net profit to the Society from these during the year ended 31st December 2015 was as follows:

Net profit/(loss)

Net profit/(loss

) year ended year ended 31.12.2015 31.12.2014

£ £ Journal of Experimental Botany 393,207 387,456 The Plant Journal 521,047 506,664 Plant Biotechnology Journal 34,630 30,659 Conservation Physiology Journal (15,712) (38,937) SEB Book Series 70 (945) Royalty income from books 450 1,171 Support costs (234,604) (169,722) 699,088 716,346

31/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 16. MEETINGS

Plant Section Symposium

Main meeting

Total 2015

Total 2014

£ £ £ £ Delegate income 5,050 191,302 196,352 155,676 Other income 4,800 49,659 54,459 43,060 Total income 9,850 240,961 250,811 198,736 Venue and meals 12,368 189,422 201,790 169,760 Speaker expenses 7,675 40,653 48,328 42,361 Awards and prizes - 4,425 4,425 2,572 Marketing - 14,894 14,894 10,965 Printing and stationery 1,654 12,506 14,161 17,624 Staff travel - 1,195 1,195 500 Miscellaneous expenses 201 1,966 2,167 5,566 Expenses paid out of interest group funds

-

12,575

12,575

5,312

Expenses paid from satellite funding

-

520

520

7,026

Total direct expenditure 21,899 278,156 300,055 261,686 Support costs 186,265 122,117 Total expenditure 486,320 383,803 Expenditure paid directly by JexBot journal (incl in note 15)

-

5,567

Surplus / (deficit) (12,049) (37,195) (235,509) (190,634) JexBot sponsorship of sessions 8,205 8,205 3,750 (12,049) (28,990) (227,304) (186,884)

17. TAXATION

The company is registered as a Charity and the exemption contained in the Income and Corporation Taxes Act 1988 and subsequent legislation which generally relate to Charities are applicable to this company.

32/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 18. TANGIBLE FIXED ASSETS

Land and buildings

Plant and machinery

etc

Totals

£ £ £ COST At 1 January 2015 634,903 181,374 816,277 Disposals - (79,304) (79,304)

At 31 December 2015 634,903 102,070 736,973

DEPRECIATION At 1 January 2015 60,823 143,526 204,349 Charge for year 12,698 21,300 33,998 Eliminated on disposal - (79,304) (79,304)

At 31 December 2015 73,521 85,522 159,043

NET BOOK VALUE At 31 December 2015 561,382 16,548 577,930

At 31 December 2014 574,080 37,848 611,928

19. FIXED ASSET INVESTMENTS

Unit and Shares Income Investment and Total

Bond Trust Warrants

£

£ £ £

Market Value At 31 December 2014 25,000 303,173 676,853 1,005,026 Additions - 20,701 159,659 180,360 Disposals (25,000) (16,814) (147,945) (189,759) Unrealised profit/(loss) - 3,798 31,312 35,110 At 31 December 2015 - 310,858 719,879 1,030,737 Cash and settlements pending 16,144 1,046,881 The cost of the investments at 31 December 2015 was £850,061 (31 December 2014: £825,626). Included within Shares and Warrants above is £96 in the charity's associated undertaking, Charles Darwin House Limited, Listed Investments Unit and Investment Trusts valued at £310,858 and Shares and Warrants worth £719,782 are listed UK securities.

33/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 19. FIXED ASSET INVESTMENTS - continued

No investments held at 31 December 2015 represent over 5% of the portfolio by value. 20. INVESTMENT PROPERTY

£ MARKET VALUE At 1 January 2015 752,449 Additions 106,379 Revaluation 104,772

At 31 December 2015 963,600

NET BOOK VALUE At 31 December 2015 963,600

At 31 December 2014 752,449

Kinney Green LLP, independent valuers and not connected to the company, revalued the following investment property on the basis of market value: Charles Darwin House 2 107 Gray's Inn Road London WC1K 8T2 The cost of SEB's share in this property amounted to £648,828. The revaluation increase is disclosed as an unrealised profit on an investment asset in the statement of financial activities. London Clancy Property Consultants Ltd, independent valuers and not connected to the company, revalued the following investment property on the basis of market value: 3 The Carronades New Road Southampton SO14 0AA The cost of this property, which is wholly owned by SEB, is £352.330, carrying value is £210,000. The unrealised loss was recognised in the statement of financial activities in the year ended 31st December 2014.

21. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015 2014 £ £

Trade debtors 6,661 17,673 Amounts owed by participating interests 8,388 95,753 Other debtors 9,167 2,578 VAT - 3,958 Prepayments and accrued income 768,815 787,869

793,031 907,831

34/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 22. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015 2014 £ £

Trade creditors 90,901 23,633 Social security and other taxes 5,267 6,785 VAT 41,110 - Other creditors 7,806 2,727 Accruals and deferred income 217,236 232,703

362,320 265,848

23. MOVEMENT IN FUNDS

At 1.1.15

Net movement in

funds

Transfers between

funds

At 31.12.15

£ £ £ £ Unrestricted funds General fund 2,194,719 285,663 (106,378) 2,374,004 Fixed Assets Fund 1,364,378 70,774 106,378 1,541,530 PhD Grant 142,535 (74,098) - 68,437 Maintenance reserve 10,000 - - 10,000

3,711,632 282,339 - 3,993,971

Restricted funds Grants from Company of Biologists Limited

7,225 892 - 8,117

Irene Manton Fund 3,101 (900) - 2,201 Young leaders fund (Company of Biologists Limited)

-

10,000

-

10,000

10,326 9,992 - 20,318

TOTAL FUNDS 3,721,958 292,331 - 4,014,289

35/38

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 23. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Gains and losses

Movement in funds

£ £ £ £ Unrestricted funds General fund 2,184,173 (1,933,620) 35,110 285,663 Fixed Assets Fund - (33,998) 104,772 70,774 PhD Grant - (74,098) - (74,098)

2,184,173 (2,041,716) 139,882 282,339

Restricted funds Grants from Company of Biologists Limited

35,000 (34,108) - 892

Irene Manton Fund - (900) - (900) Young leaders fund (Company of Biologists Limited)

10,000

-

-

10,000

45,000 (35,008) - 9,992

TOTAL FUNDS 2,229,173 (2,076,724) 139,882 292,331

Fixed assets Fund The fixed assets fund has been created to cover the cost of those assets. PhD Grant SEB have awarded a four year grant to a PhD student and have designated the funds payable in future years to ensure the money is available to meet its commitment (refer also to note 26). Grants from Company of Biologists Limited The fund represents the Grant money received from the Company of Biologists Limited towards providing travel grants to help members attend the SEB meetings. Irene Manton Fund The fund represents funds received to be used to provide awards as part of the annual meetings. Maintenance Reserve The maintenance reserve has been created to save towards the share of anticipated costs in respect of undertaking work on the Society's head office. Young Leaders Grant (Company of Biologists Limited) This grant is to be distributed to new leaders in 2016 according to criteria determined by SEB, as agreed with the Company of Biologists.

24. CONTINGENT LIABILITIES

The Society has no contingent liabilities at 31 December 2015. 25. CAPITAL COMMITMENTS

2015 2014 £ £

Contracted but not provided for in the financial statements - 155,215

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THE SOCIETY FOR EXPERIMENTAL BIOLOGY Notes to the Financial Statements - continued for the year ended 31 December 2015 26. OTHER FINANCIAL COMMITMENTS

The Society had committed to providing a grant towards the study for a PhD student in the 2012, 2013 and 2014 financial years. The trustees have established a designated fund (refer to note 23) to 'set aside' funds in respect of these commitments. Costs are charged against these funds in the year.

27. RELATED PARTY DISCLOSURES

In the year ended 31st December 2015 the Charity received a donation of £388 (2014 £1,614) from Charles Darwin House Limited, an associated company in which the Charity owns 9.6% (2014 9.6%) of the issued share capital. Charles Darwin House Limited also collects rents on behalf of the charity £11,810 (2014 £54,544). SEB also paid £19,168 (2014 £21,101) to Charles Darwin House Limited in respect of service charges for the properties managed by them. At 31st December 2015 SEB was owed £8,388 (2014 £95,753) by Charles Darwin House Limited in respect of monies advanced in relation to the development of the investment property.

28. APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many charities of this size and nature the Trustees of the Society of Experimental Biology enlist the auditors to assist in the preparation of the financial statements.

29. DEFERRED INCOME

£ Deferred income at 31 December 2014 58,511 Transferred to SoFA (14,686) Balance at 31 December 2015 43,825 The deferred income at 31st December 2015 represents advance registrations for future meetings, membership and rental income received in advance for the following year.

30. SHARE CAPITAL

The company is limited by guarantee. Under the provisions of the Memorandum and Articles of Association, in the event of a winding-up, the individual members liability is limited to a maximum of £1.

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This page does not form part of the statutory financial statements

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Detailed Statement of Financial Activities for the year ended 31 December 2015

2015 2014 £ £

INCOME AND ENDOWMENTS Donations and legacies Donations 485 1,718 Investment income Investment income 55,702 98,274 Charitable activities Subscriptions 60,997 64,838 Grants 45,000 35,000 Journals and other publications 1,799,606 1,778,482 Education and public affairs 13,572 19,848 Bulletin 3,000 1,650 Other Income - 514 Main meeting income 240,961 145,094 Symposium meeting income 9,850 53,642

2,172,986 2,099,068

Total incoming resources 2,229,173 2,199,060 EXPENDITURE Raising donations and legacies Publicity and marketing 10,034 5,960 Investment management costs Portfolio management 8,712 8,178 Charitable activities Subscriptions 66,443 60,998 Journals and other publications 865,914 892,414 Education and public affairs 83,769 88,141 Other meeting expenses 25,503 22,887 Main meeting expenses 321,491 234,727 Symposium meeting expenses 21,899 51,105 Bulletin 52,694 29,425 Grants to institutions 26,457 25,000 Grants to individuals 122,552 128,855

1,586,722 1,533,552

Support costs

Management Telephone 91 59 Postage and stationery 20,094 15,396 Property expenses 39,075 32,025 Honoraria 8,000 7,000 Training 4,133 7,048 Carried forward 71,393 61,528

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This page does not form part of the statutory financial statements

THE SOCIETY FOR EXPERIMENTAL BIOLOGY Detailed Statement of Financial Activities for the year ended 31 December 2015

2015 2014 £ £

Management Brought forward 71,393 61,528 Non recoverable VAT 6,170 (203) Professional fees 118,154 12,073 Subscriptions and donations 18,451 19,766 Recruitment costs 5,248 6,651 Insurance 3,497 3,405 Irene Manton poster award 900 200 Travel expenses (including council, society committees and staff) 41,301 56,133 General office 3,305 5,068 IT systems 23,210 19,649 Website costs 503 982 Foreign exchange (gain)/loss 11,599 3,516 Bank and credit card charges 12,272 9,678

316,003 198,446

Other Freehold property 12,698 12,698 Computer equipment 21,300 21,478

33,998 34,176

Governance costs Wages 96,533 79,703 Auditors' remuneration 9,722 8,649 Accountancy and legal fees 15,000 15,058

121,255 103,410

Total resources expended 2,076,724 1,883,722

Net income before gains and losses 152,449 315,338 Realised recognised gains and losses Realised gains/(losses) on fixed asset investments 6,011 36,957

Net income 158,460 352,295