annual review april 2002 – march 2003

8/6/2019 ANNUAL REVIEW APRIL 2002 MARCH 2003

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T H E R O Y A L S O C I E T Y O F E D I N B U R G H

A N N U A L R E V I E W A P R I L 2 0 0 2 M A R C H 2 0 0 3

Re a l i s i n gS c o t l a n d s

E x c e l l e n c e


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President: Lord Sutherland of Houndwood KT FBA FRSE

Vice Presidents: Sir David Carter FRSE, Professor Andy Walker FRSE,

Professor Gavin McCrone CB FRSE

General Secretary: Professor Andrew Miller CBE FRSE

Treasurer: Sir Laurence Hunter CBE FRSE

Executive Secretary: Dr William Duncan [email protected]

A full list of Senior Officers of the Society and Council Members is available at: www.royalsoced.org.uk

The Royal Society of Edinburgh was founded in 1783.

It is Scotlands national academy. Its Fellowship

includes some of the best intellectual talent

in academia, the professions and business. It facilitates public

debate, research programmes, educational projects and strategy

formulation. Its strength is its diversity and impartiality. The goal

of the RSE is to make a significant contribution to the cultural,

social and economic prosperity of Scotland.

The RSE has effected significant developments in areas of strategic

importance to Scotland through partnerships with major charitable

trusts, industry, government and academia. The Societys unique

multi-disciplinary approach enables it to draw from and link with a

broad spectrum of expertise to advance the understanding of

globally important issues.


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This Annual Review presents a flavour of the many

activities the Society has been involved in between

April 2002 and March 2003. This was a vibrant

period for the RSE and much of the credit for what

is reflected in the following pages is due to my

predecessor, Sir William Stewart, FRS, FRSE, whom

I succeeded in late October 2002. Sir William

recognised the increasingly important role which

the RSE could make to life in post-devolutionScotland. Four significant achievements during

his Presidency warrant particular mention.

Firstly, in July 2002, the RSEs independent expert

report into the impact of Foot & Mouth disease

on Scotland was published and widely welcomed.

Its comprehensive coverage reflected the benefit of

having a broadly-based National Academy, capable

of dealing in one report with the social, scientific

and economic implications of this complex, serious

issue. From its position of independence and

harnessing its multidisciplinary expertise, the Society

will continue to undertake selective independent

inquiries and make recommendations to key

decision makers, including Government.

Secondly, the target for the first phase of the

Societys Fundraising Campaign, launched by

its Patron, HRH The Duke of Edinburgh HonFRSE

in August 2001, was completely realised, indeed

exceeded. The appeal seeks to provide the Society

with the resources that will enable it to help

contribute further to the social, cultural and

economic wellbeing of Scotland. Major grants from

Lloyds TSB Foundation for Scotland, the GannochyTrust and Scottish Enterprise (SE) have helped us

to reach our initial target of 5million from that

sector. 1.1 million from Lloyds TSB Foundation

for Scotland is funding new research into improving

the quality of life of Scotlands ageing population.

The Gannochy Trust also provided 500,000 to

create a joint award to encourage innovation in

Scotland. Scottish Enterprise injected a further 5.5

million into the highly successful SE/RSE Enterprise

Fellowship programme, to support 80 new awards

to commercialise research in Scotland. 400,000

was generously donated by Fellows. Increased

funding will enable us to do much more, both at

home and abroad, and I offer my sincere thanks

to all of these valued donors.

Thirdly, and separate to the appeal, the prospect

of significant funding increases from the Scottish

Executive were secured. A significant increase in

the grant provided to the RSE by the Departmentof Enterprise and Lifelong Learning was announced

in October 2002 by the then Science Minister,

Iain Gray. It was subsequently confirmed that the

Society is to receive a 25% increase in its grant-in-aid

from the Scottish Executive in 2003 when it will be

1.1 million, with further increases expected during

2004 2006. Much of this increase relates to our

enhanced international role which we are taking

forward in partnership with British Council (Scotland).

Fourthly, as a key part of Scotlands first ever science

strategy, the Scottish Science Advisory Committee

(SSAC) was established, under the auspices of the

RSE. Chaired by Professor Wilson Sibbett, CBE, FRS,

FRSE this independent body was created to advise

Scottish Executive Ministers on science strategy,

policy and priorities. I am delighted that in

entrusting the creation of this body to the Society,

the Scottish Executive recognises the Societys post

devolution role as Scotlands National Academy.

The Society has actively sought to build upon

productive and effective partnerships with key

public and private bodies. Together, we have been

able to support research and innovation throughstimulating ideas, enabling multidisciplinary

collaboration and promoting the dissemination

of research. We have held successful joint events

with bodies such as the British Academy, the

Caledonian Research Foundation and the Royal

Academy of Engineering. We shall continue to forge

strategic partnerships. Committed to our Royal

Charter of 1783 for the advancement of learning

and useful knowledge and greatly honoured to

be the figurehead of the Society today, I plan,

with the support of my Senior Officers, Fellows

and Staff to build upon the achievements of thisperiod to help the RSE to contribute further to the

social, cultural and economic wellbeing of Scotland.

Introduction

from RSE PresidentLORD SUTHERLAND OF HOUNDWOOD KT FBA FRSE

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Realising Scotlands Excellence

Partnership to Encourage Scotlands

Top Young Innovators

A partnership between The Gannochy Trust and the RSE led to the creation of Scotlands highest

accolade for individual achievement in innovation. The aim of the award is to encourage Scotlands

young innovators and promote the nations research and development capability in areas of social

importance. The Gannochy Trust Innovation Award of The Royal Society of Edinburgh is awarded

annually to a young, Scottish-based innovator whose work has the potential to promote social and

economic wellbeing. A 50,000 cash prize is presented to the winner of this prestigious new award.

Chaired by Lord Ross, the distinguished panel of judges includes Chairman of Trustees of The Gannochy

Trust, Dr Russell Leather, Sir Bruce Pattullo, Dr Ian Sword and Professor Andy Walker.

Major Funding Boost

from the Scottish Executive

The Scottish Executive announced a major funding boost for the Society in

October 2002. The RSE received a 25% increase in its grant-in-aid from the

Scottish Executive in 2003 2004. From April 2003 the grant will be 1.1

million, with further increases expected in 2004 2006. This additional funding

will enable the RSE to expand its programme of science promotion activities,make more Research Awards available and to promote and enhance Scotlands

excellence internationally through recently signed exchange programmes and

with future initiatives.

RSE Produces key report into lessons learned

from Foot & Mouth Disease

Set up at the behest of the President and Council, the RSEs independent inquiry into Foot & Mouth Disease in

Scotland was published in July 2002 and widely welcomed. Under the Chairmanship of Professor Ian Cunningham,

the remit of the forward-looking committee was to consider scientific aspects of the Foot & Mouth virus, the disease,

options for its control and the impact of the spread of the virus on the social and economic life of Scotland. The

independent group received over 100 written evidence submissions, held public meetings in Dumfries and the Scottish

Borders, and heard over 50 oral evidence submissions. The report made 27 key recommendations, including the need

to take into account the wider economic and social aspects of livestock epidemics and the recommendation that

emergency barrier or ring vaccination be used as an adjunct to the slaughter of clinical cases. The Scottish Executive

has supported and is addressing the recommendations of the report.

The collective

expertise and

experience of the

Fellowship is

the underpinning

foundation of the

Societys missionand role

New Fellows elected for

Outstanding Achievements

Based on the advice of specialist discipline committees, over 60 outstanding

individuals from a broad spectrum of disciplines were elected Fellows of the

RSE in March 2003. New Honorary Fellows are Nobel Laureates Tim Hunt

and Kurt Wthrich; Poet, Edwin Morgan and the Secretary General of

NATO, George Robertson. William McGrew and Helmut Neunzert, who

are resident outside the UK were elected as Corresponding Fellows.

Election to Fellowship of the Society honours outstanding achievement across

all academic subjects, the professions, the arts, commerce, industry and public

life. Conferring the accolade of Fellowship on people recognised as amongst

the best minds, is the beginning, not the end of the Societys purpose.The collective expertise and experience of the Fellowship is the underpinning

foundation of the Societys mission and role. A complete list of new Fellows

is available at: www.royalsoced.org.uk

2 RS E A n n u a l Re v i e w


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Wick & Thurso Roadshow Promoting Young

Peoples Interest in Science & Society

The Societys Young Peoples programme, which seeks to stimulate the interest of our

primary and secondary school pupils in Science, Society and Culture, was active in the

north of the Scottish mainland in March 2003. The RSE Roadshow formed part of

the Science O3 Festival which offered a range of scientific events to around 1000

primary and secondary school pupils, and members of the public in Thurso and Wick.

Talks, hands-on workshops and demonstrations were provided for students from P6-S5

by Professor Jack and Teresa Carr; the University of Edinburghs Natural EnvironmentalScience Education team (NESciE), led by Dr Douglas Paton; and Dr Allan Jamieson,

Director of the Forensic Institute who lectured to senior pupils and members of the

public on his fascinating area of work under the banner Death, Drugs and Dynamite.

Enhancing International

Collaboration

International activity has developed considerably in 2002-03, with

increased funding for exchanges from the Scottish Executive and a new

partnership with the British Council. Newly signed Memoranda ofunderstanding between the Society and the Chinese Academy of Sciences,

the Polish Academy of Sciences and the National Science Council of

Taiwan aim to facilitate global collaboration between top researchers.

It is intended that these productive agreements will lead to study visits in

2003, fellowships and joint research projects. The Society received a

delegation in October 2003 led by the Vice President of the National

Science Council of Taiwan, Prof Ching Jyh Shieh. In May 2002, the Society

participated in the Western European Partners Conference, held by the

Chinese Academy of Sciences in Beijing. Photograph shows Professor

Wlodimierz Ostrowski, Vice President, Polish Academy of Sciences, with

Professor Rona MacKie and Lord Wilson of Tillyorn (right).

Life Sciences Collaboration

In Sweden

As part of a wider Scotland in Sweden programme, held in

Stockholm in October 2002,which sought to promote and

position Scotland in the areas of arts, culture, governance,

science and tourism, the Society, in partnership with the

Karolinska Institute and the Royal Swedish Academy of

Sciences, organised and ran a debate entitled Realising the

Potential of Life Sciences and Biotechnology. Discussions with

eminent Swedish scientists focused on issues relating to the

challenges, solutions and values of stem cell research and the

afternoon seminar focused on biotechnology, ethics and

society. A delegation led by the then President, Professor SirWilliam Stewart and comprising Professor Sir David Carter,

Professor John Clark, Professor Sir David Lane, Professor

Alexander McCall Smith, Professor David Porteous, Professor

Austin Smith and Professor Wilson Sibbett, demonstrated

Scotland to be at the leading edge of life sciences.

Secretary General of NATO speaks at RSE

Prior to his election in March 2003 as an Honorary Fellow, Lord Robertson, Secretary

General of NATO visited the Society in December 2002 to deliver a lecture entitled

A new Russian revolution partnership with NATO. Part of the Edinburgh Lectures

series, Lord Robertson related that the establishment of the NATO-Russia Council at theNATO-Russia Summit on 28 May 2002 in Rome opened a new chapter in NATO-Russia

relations. He explained that the groundbreaking new body brings together the 19 NATO

Allies and Russia to identify and pursue opportunities for joint action as equal partners.



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European Research Commissioner shares

insights at the RSE into funding allocation

European Research Commissioner Philippe Busquin visited the RSE on 28 October 2002 to talk

about Research in Europe, The EU Framework Programme and The European Research Area.

The concept of the European Research Area results from the EU objective to become the most

dynamic and competitive knowledge-based economy in the world by 2010 and has rapidly

given rise to a series of concrete achievements. These include a network of mobility centres

to provide information and assistance for researchers and a European Forum on research

infrastructures.

The Sixth EU Research Framework Programme (FP6) will allocate 11billion to transnational

research projects before 2006. The Society also hosted events, in collaboration with Scotland

Europa and UKRO (the UK Research Organisation) in May and December 2002 to create

greater awareness and understanding amongst Scottish-based Researchers of the FP6

programme and its workings.

Royal Recognition of

Outstanding Achievement

Awarded in recognition of intellectual endeavour which has had a

profound influence on peoples lives world-wide, the Royal medals were

presented in October 2002 by HRH The Princess Royal during a dinner in

the Signet Library held to mark Her Majesty The Queens Golden Jubilee.

HRH The Princess Royal presented the eighteen carat gold medals to

Professor Sir Alfred Cuschieri, Professor John Mallard, and Professor

Sir Alan Peacock in the Signet Library. The Royal Medals were inaugurated

by Her Majesty The Queen in 2000 and are awarded in recognition of

outstanding scholarship encompassing all areas of intellectual endeavour.

The Princess Royal also presented Sir James Armour, CBE with the

Bicentenary Medal for distinguished service to the Society.

a year of progress

Young Peoples Debate

& Masterclasses

In July 2002, then Vice President, Lord Ross chaired a debate

at The University of Stirling for over 60 S5 & S6 students on

the ethics of cloning. The students heard expert lectures from

Mr Tim King of the Roslin Institute and Professor Kenneth

Boyd of the University of Edinburgh Medical School, debated

in workshop groups and came to conclusions which have beensent to key UK decision makers. Saturday morning Startup

Science masterclasses for S1 and S2 pupils held in Aberdeen,

Dundee, Glasgow, St Andrews and at Heriot-Watt University

continued to be fully subscribed. Thanks to increased funding

from the Scottish Executive, the RSE plans to expand its

successful range of activities for Young People.

The RSE

plans to

expand its

science

promotion

activities



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RSE Helps Shape Science Policy in Scotland

Establishing SSAC

The Scottish Science Advisory Committee (SSAC), a key part of the Scottish Executives

Science Strategy for Scotland, was created under the auspices of the RSE in May 2002.

An independent group of eighteen experts, the SSAC was set up to inform policy and

advise Scottish Executive Ministers on issues of scientific importance. Iain Gray, then

Minister for Science, met SSAC Chairman, Professor Wilson Sibbett and Committee

members at the RSE for its inaugural meeting on May 7 2002. The Committee

membership represents a breadth of expertise and knowledge across a range of

scientific disciplines and interests which include: education, business, engineering,

technology, medicine, ethics, public engagement and public policy.

scottishscience

advisorycommittee

A Neutral Platform for Informed Debate

The Society has again organised a wide range of events, for both the specialist and general

public, providing a forum for informed debate on issues of national and international

importance. They have covered a variety of themes and have involved an extensive range of

speakers from throughout the UK and around the world, including politicians, industrialists,

academics and other key public figures. The quality of events remains extremely high, with

positive general feedback from audiences. Examples of successful events held during the year

include: The Artful Use of Light Bicentenary of the birth of David Octavius Hill, a Joint

Conference with the Scottish Society for the History of Photography and Science, Society

And Government, by Professor David King, Government Chief Scientific Advisor, on how

Government is focusing on science as a major factor that can transform our economy.

Memory: Psychological

Processes & Clinical

Implications

A joint international conference with the Caledonian

Research Foundation (CRF) in August 2002 brought together

world experts in the field of Memory. The conference

reflected the fact that the past 20 30 years have witnessed

great strides in the understanding of learning and memory.

The relevance of the conference for today is borne out by

the many questions which continue to be asked about areas

of the brain that are activated when episodic memory

processing takes place. Work is ongoing into whether, and

how, this form of memory can be selectively impaired by

certain kinds of brain damage and whether it is unique tohumans or that animals may also possess such a system.

The conference also explored the clinical application of

ideas about memory and the impact of old-age and the

degenerative conditions that so often accompany it.

Closing the Loop: Impact and Social Inclusionin Hearing Impairment and Deafness Conference

More than 80 deafness professionals and service providers participated in a one day RSE symposium

in November 2002 on impact and social inclusion in hearing impairment and deafness. In planning the

event, the RSE was advised by representatives of the RNID, Donaldsons College for the Deaf, and the

MRC Institute of Hearing Research. Members of the RSE Events team were also given deafness awareness

training. Appropriate provision was made for the event with BSL Interpreters, Lip Speakers and

Palantypists participating. A Minicom Service for tickets and a Hearing Induction Loop are available for

all lectures held at the RSE.



8/12

Oh, Brave New World?

The Union of England and Scotland in 1603Exactly 400 years to the day after James VI became King of England, the RSE

and the British Academy held the first of three joint events to mark the 400th

Anniversary of the Union of the Crowns. On 24 March 2003, Dr Jenny Wormald,

St. Hildas College, Oxford delivered a lecture entitled Oh, Brave New World?

The Union of England and Scotland in 1603 to a capacity audience at the British

Academy in London.

Dr Wormalds lecture covered the dramatic events leading up to the Union,

who its leading players were and how they coped with the challenge of 1603

and why a ramshackle union has survived.

Image: By Vanson: James VI & I; Scottish National Portrait Gallery

Public Transport

and Public Expectations

The Former Planning Director of London Transport, David Bayliss

addressed the Society in March 2003. His lecture, Public Transport

and Public Expectations: Can the Gaps be Bridged? examined the

trends in the use of public transport, highlighting how it has

changed over recent years and exploring future options. Mr Bayliss

identified the pros and cons of using public transport and offered an

insight into research findings on public perceptions and behaviour.

The transport expert acknowledged that there is no silver bullet

solution to eliminate the present shortcomings of our transport

system, but claimed that a wide range of measures could be

adopted to reduce the gap between public expectations and reality.

David Bayliss concluded that at present, the UK is not adequately

responding to this challenge.

I, Cyborg

The ever popular annual joint lecture between The Royal

Academy of Engineering and the RSE attracted a diversecapacity audience for the March 2003 lecture by Professor

Kevin Warwick. In 1998, Professor Kevin Warwick from the

Cybernetics Department at The University of Reading, carried

out a novel experiment when a silicon chip was surgically

implanted into his arm. In 2002 Professor Warwick carried

out a further experiment, linking his nervous system directly

to a computer. The aim being to realise extra sensory

capabilities, thought as a new communication channel and

possibly even a method of changing emotions. In his lecture,

Professor Warwick described the groundbreaking research

carried out in 2002. A full report of the lecture has been

published by the Society (ISBN No 0 902 198 687 8).

a y e a r o f p r o g r e s s



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Successful Start

to Fundraising

Campaign

The targets set for the first phase of

the Societys Fundraising Campaign,

launched by its Patron, HRH The Duke

of Edinburgh HonFRSE in August 2001,

have been wholly successful. The appeal

seeks to provide the Society with theresources that will enable it to help

contribute further to the social, cultural

and economic wellbeing of Scotland.

400,000 has been generously donated

by Fellows and major grants from Lloyds

TSB Foundation for Scotland, the

Gannochy Trust and Scottish Enterprise

(SE) have helped the RSE to reach its

intitial target of 5million. The next

phase of the campaign will seek support

from the Corporate Sector.

RSE/SE Enterprise Fellowships

Huge Boost for Creation of

Business in Scotland

In March 2002, Professor Neil Hood, Deputy Chairman of Scottish

Enterprise (SE) announced a 5.5 million boost for the highly

successful SE/RSE Enterprise Fellowship programme. The funding

will enable the Society to offer 80 new Enterprise Fellowships and

expand the programme to offer Fellowships in Forest Industries,

Food, Tourism, and Electronics. The current areas of Lifesciences,

Energy, Optoelectronics, Microelectronics and Communications

Technologies will continue to be funded. An independent review bySQW in 2001 found that the Enterprise Fellowships have already

helped to create 7 new companies and over 400 highly skilled new

jobs in Scotland.

RSE Research Awards seek to boost

Scotlands wellbeing

Grants totalling well over 1million were awarded by the RSE in July 2002to some of the brightest researchers from home and abroad. Support

from valued funding partners including The Lloyds TSB Foundation for

Scotland enables innovative research to be conducted in areas such as

healthcare, the ageing population and communications. The outcomes

of the fifteen new awards receiving RSE support include: the development

of clinical and imaging information on stroke treatment gained from the

largest patient cohort of its kind in the world; lasers for use in medical

imaging; a Cellular Memory Map to improve understanding of how

memories are formed and lost, and an innovative Model demonstrating

the impact of the factors which cause obesity.

The 2002 funding is part of the RSEs successful Research Awards

Scheme which supports exceptionally talented academics and potential

entrepreneurs. With support from The Scottish Executive and a broad

range of private and charitable bodies, these highly competitive awards

enable people with good ideas, across a spectrum of disciplines to research

and develop their work for the good of Scotland.

The appeal seeks to

provide the Society

with the resources

that will enable it

to help contribute

further to the social,

cultural and economic

wellbeing of Scotland.



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F i n a n c i a l R e p o r t

The Society faced another difficult year in 2002 2003, due to the continued loss of income to the Foundation

pending the commencement of rental payments from our new tenants, Lakeland Ltd., in the middle of the

year. Net operating revenue showed a small surplus of 14,000, but this necessitated a further reduction in the

General Fund, which bears the residual costs of management, publicity and fund-raising. This outcome was,however, better than the budget projection.

As the accompanying summary figures show, the balance sheet reveals a reduced level of net assets at 6.73

million, down 7% from last year. This is almost entirely accounted for by the decline in investment values due

to difficult stock market conditions. The high (and rising) cost of a fee-based fund manager was agreed to be

unjustified relative to a stockbroker managed portfolio, and a switch to the latter (Speirs and Jeffrey) during

the last quarter and a realignment of the portfolio brought about a substantial realised loss of 337,000 and

a further unrealised loss of 164,000. The resulting portfolio is designed to be more risk averse, with

significantly lower annual charges. Nevertheless, the effect on the General Fund leaves the Society with no

truly free reserves.

Both income and expenditure rose significantly during the period, reflecting the increased activity of the Society

in the promotion of research and science promotion and advice, including the first full year of the Scottish

Science Advisory Committee. To a large extent this expansion was enabled by additional support from the

Scottish Executive and Scottish Enterprise. Pleasing contributions continued to flow from the Fellowship appeal,

which has now effectively met its target. These outcomes all flowed from the clearer focus provided by the

Corporate Plan and associated Business Plan, which now need to be reviewed and projected forward, learning

the lessons from the first steps in this direction.

In the current financial year, the budget projection is for a modest surplus and a commencement of rebuilding

our depleted reserves, which will be aided by the expected full year rental income from the Foundations

tenants. The 2001 Appeal fund has been designated as the Development fund and will continue to receive

ongoing contributions from Fellows. Approaches to the corporate sector will be pursued cautiously and

selectively, in view of the continuing uncertainties affecting company performance and profitability. Furthertightening of budgetary processes and risk assessment reviews, through the Treasurers Committee, should

continue to improve financial controls. The Corporate Plan is currently being reviewed and is intended to lead

to the production of a Management Plan, which will provide the detailed framework to guide activities and

expenditure. The management structure is currently being strengthened in parallel with these developments.

The key objectives for the immediate future are to consolidate the operating surplus and to begin a longer-term

process of re-building reserves. While recent experience suggests that each year brings some unwelcome

surprises, the Society should now be in a stronger position to withstand these, and with careful management,

achieve these aims.

Sir Laurence Hunter CBETreasurer



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F i n a n c i a l R e v i e w

Income for year ended 31 March 2003 000 000

2003 2002

Promotion of research

Research awards Scottish Executive 500 21% 385

Research awards Scottish Enterprise 313 13% 217

Research awards charitable trusts 389 16% 401

1202 1003

Science promotion and advice

Meetings 133 113

Education 42 28

Academic/industry links 33

International activities 81 45(including secondment of staff from Scottish Executive)

256 10% 219

Scottish Executive grant for activities 328 13% 328(mainly allocated to science promotion and advice)

Scottish Science Advisory Committee 150 6% 56

Own Income

Fellows subscriptions 133 105

Other donations 75 48

Interest and dividends 113 108

321 13% 261

Appeal Receipts 183 8% 91

Total income 2440 100% 1958

IncomeResearch Awards Scottish Executive 21%

Research Awards Scottish Enterprise 13%

Research Awards charitable trusts 16%

Science Promotion & Advice 10%

Scottish Executive grant for activities 13%

Scottish Science Advisory Committee 6%

Own Income 13%

Appeal Receipts 8%

Expenditure for year ended 31 March 2003 000 000

2003 2002

Cost of generating funds 84 3% 109

Promotion of research

Research awards 1274 53% 1060

Prizes and grants 37 2% 37

Science promotion and advice

Publications 23 38

Meetings 282 225

Educational activities 79 57

Academic / industry links 11 49

International activities 90 51

Evidence, advice and comment 122 97

607 25% 517

Scottish Science Advisory Committee 150 6% 59

Fellowship Office 45 2% 50

Buildings, management and administration 229 9% 241

Total expenditure 2426 100% 2073

Net incoming resources for the year 14 (115)

ExpenditureResearch Awards 53%

Prizes and grants 2%

Science Promotion & Advice 25%

Scottish Science Advisory Committee 6%

Fellowhip Office 2%

Buildings, management & administration 9%

Cost of generating funds 3%

Balance Sheet 31 March 000 0002003 2002

Tangible Fixed Assets 2531 2588

Fixed Asset Investments 1732 2261

Loan to RSE Scotland Foundation 2078 2125

6341 6974

Current Assets 756 430

Current Liabilities (366) (171)

Net Assets 6731 7233

Represented by:General Funds 1 74

Designated Funds 5677 5789

Restricted Funds 1053 1370

6731 7233

These figures have been extracted from

the audited accounts for the period

ended 31 March 2003 which carried an

unqualified audit report. The full

Trustees report and audited accounts are

obtainable in hard copy from 22 26

George Street , Edinburgh, EH2 2PQ or on

the RSE website www.royalsoced.org.uk



12/12

Royal SocietyofEdinburgh

The THE ROYAL SOCIETY OF EDINBURGH22 26 George Street, Edinburgh EH2 2PQ

T: 0131 240 5000

F: 0131 240 5024

E: [email protected]

W: www.royalsoced.org.uk

Scottish Charity no. SC000470

ISSN 1742-1810

IllustrationbyAlanMcGowan

DesignedbyEmmaQuinn

annual review april 2002 – march 2003

Documents