annual review april 2003 – march 2004

8/6/2019 ANNUAL REVIEW APRIL 2003 MARCH 2004

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The Royal Society of EdinburghA N N U A L R E V I E W A P R I L 2 0 0 3 M A R C H 2 0 0 4


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President: Lord Sutherland of Houndwood KT FBA PRSE

Vice Presidents: Sir David Carter FRSE, Professor John Coggins 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 Honorary Office Bearers 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 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 prosperityof Scotland.

The RSE has effected significant developments in areas

of strategic importance to Scotland through partnerships

with major charitable trusts, industry and government.

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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The Society has continued to thrive, celebrating allthat is good about the mind; an endeavour that iscentral to our Royal Charter for the advancementof learning and useful knowledge. With ourorigins in the Enlightenment, it is fitting that todaywe are working to promote, to recognise and toreward brightness, in its fullest sense. Collaboratingwith key public and private bodies, we are seeking

to share our light and contribute more to the social,cultural and economic wellbeing of Scotland. Thispublication seeks to offer a flavour of the manyactivities in which the Society has been engaged inthe past year, but I hope that you will agree with methat it gives a sense of the very considerablecontribution the Society is making to the widercommunity, through the dedication and hard workof the Honorary Office-Bearers, Fellows and Staff.

The year to 31 March 2004 has seen a great dealof operational and structural change. The staffstructure has been reorganised, a revised CorporatePlan and related Management Plan were developed,

and I have instigated a review of the internalgovernance and management structures of theSociety. It has been an extremely dynamic andproductive period in which the resources of time,expertise and funding have been carefully managed,and put to good effect.

In 2001 the Society produced its first Corporate Planwhich set a wide range of activity and programmetargets through which the Society could make aneffective contribution to a Scotland facing thechallenge of devolution. It was intended to reviewthe 2001 Plan after a couple of years and this hasnow been successfully completed, with all Fellows

and staff having the opportunity to contribute tothis process. In order to provide further publicbenefit consistent with its Royal Charter, the Societyhas set three strategic objectives over 2004 2007.These are to:

continue to deliver its existing range of coreactivities, thereby maintaining existingarrangements with funders and partners;

prioritise selected action areas and, wherenecessary, seek the resources neededfor development;

encourage wider Fellowship and publicparticipation, and better integration in thedelivery of Society programmes.

These strategic objectives will be achieved througha broad range of specific activities and programmes,each with defined targets. These, together withtheir associated resource implications, are set outin the Societys Management Plan.

The Society has continued to recognise, promoteand celebrate excellence. The much valuedrelationships which the Society has with key fundingpartners enables us to award over 1.5 millionannually to an outstanding calibre of awardeesand prize winners. Their innovative research andcommercialisation promotes wealth generationand offers public benefit in areas such as healthcare,the ageing population, communications, energyand the environment.

Individuals who have made an outstandingachievement of benefit to people in Scotland andabroad, continue to set the standard for the RoyalMedals. HRH The Duke of Edinburgh, KG, KT, OM,Hon FRSE honoured us last October by coming

to the Society to present these top awards to SirMichael Atiyah OM, FRS, HonFRSE; to Lord MacKayof Clashfern PC, KT, QC, FRSE; and to ProfessorSir Paul Nurse FRS HonFRSE.

As an independent, multidisciplinary body, the RSEis ideally placed to offer expert comment andadvice. We continued to respond to consultationsand, building on the success of the Societys major,independent inquiry into Foot and Mouth Diseasepublished in 2002, we carried out an independentinquiry into how a sustainable future could beachieved for Scotlands fishing industry. Instigatedby the Societys Council and independently funded,

this expert report was chaired by the distinguishedbiologist, Professor Sir David Smith, FRS, FRSE withVice Chairman, Professor Gavin McCrone, CB, FRSE.They and their committee applied energy andexpertise to this very important inquiry, taking oraland written evidence around the country andoverseas. Their forward-looking, detailed reportwas widely welcomed and does much credit tothe Society. I offer them my sincere thanks andcongratulations on their excellent report.

As mentioned at the outset of this introduction,the Society seeks to encourage inquiring mindsand as such we would be delighted to share more

information with you about the ways in which,together with strategic partners, we are working tofulfil our Royal Charter for the advancement oflearning and useful knowledge, in a twenty firstcentury context.

Introductionfrom RSE President Lord Sutherland of Houndwood KT FBA PRSE

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Providing public benefit through theadvancement of learning and useful knowledge

New Fellows Elected for Outstanding AchievementOn the advice of specialist discipline committees, the Society elected eight CorrespondingFellows and three Honorary Fellows in March 2004, including: Chairman of the Board ofGovernors of the Federal Reserve, Alan Greenspan; Nobel Prize winner and inventor of theintegrated circuit (the Silicon chip), Jack Kilby, and the Father of Sociobiology, Edward O.Wilson. Chosen in recognition of outstanding contributions to their field and achievementin public service, a broad spectrum of expertise is represented in the new list of fifty fiveOrdinary Fellows, which includes: leading Astro Physicist, Jocelyn Bell Burnell; ScottishEnterprise Chairman, Sir John Ward; the Academic and Grade 1 Scottish Football Referee,John Underhill: Entrepreneur, Chris van der Kuyl; the Lord Justice Clerk of Scotland,Brian Gill, and the Director of the Beatson Institute for Cancer Research, Karen Vousden.A complete list of new Fellows is available at: www.royalsoced.org.uk

The Corporate PlanIt was always the intention to review the Societys first Corporate Plan, created in 2001.All Fellows and Staff have had the opportunity to contribute to this process and it has nowbeen successfully completed. The Society has set three strategic objectives over 20042007.These are: to continue to deliver a range of core activities, thereby maintaining existingarrangements with funders and partners; prioritising selected action areas and, wherenecessary, seeking the resources needed for development; and encouraging widerFellowship and public participation, and better integration in the delivery of Societyprogrammes. This document and its accompanying Management Plan seek to ensurethat the Society can provide further public benefit consistent with its Royal Charter.

The Gannochy Trust Innovation Awardof The Royal Society of EdinburghThe inaugural Gannochy Trust Innovation Award of The Royal Society of Edinburgh waspresented to Dr Barbara Spruce, Department of Surgery and Molecular Oncology, Universityof Dundee for her innovative technology for the treatment of cancer. Scotlands highestaccolade for individual achievement in innovation in Scotland, the award, which carries

a 50,000 cash prize, seeks to encourage Scotlands young innovators and promote thenations research and development capability in areas of social importance. Chaired by LordRoss, the distinguished selection panel includes Chairman of Trustees of The GannochyTrust, Dr Russell Leather, Sir Bruce Pattullo, Dr Ian Sword and Professor Andy Walker. Thepresentation of the gold medal was made by Professor Sir James Black, OM, FRS, Hon FRSE,at a ceremony held in Scone Palace in June 2003.

RSE Produces Independent Report into the Futureof the Scottish Fishing IndustryInstigated by the Council of the RSE, the Societys independent, expert inquiry into the futureof the Scottish Fishing Industry was published in March 2004 and widely welcomed.Independently funded and chaired by the distinguished biologist, Professor Sir David Smith, FRS,FRSE with Vice Chairman, Professor Gavin McCrone, CB, FRSE, the committee consulted widely,taking oral evidence from a broad range of individuals and organisations connected with theindustry in Aberdeen, Copenhagen, Fraserburgh, Inverness, Peterhead, Pittenweem, Shetlandand Stornoway, as well as receiving many written submissions. The report made 35 keyrecommendations covering the operation of the Common Fisheries Policy, the science of fishstock assessment and the management of fisheries policy. It also outlined measures to helpthe industry and the fishery dependent communities. It was widely welcomed.

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Chris van der Kuyl


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Supporting Innovation and EnterpriseIn the period 2003-2004, the Society awarded sixteen Enterprise Fellowships, funded byScottish Enterprise and PPARC. Innovative research in areas such as healthcare, the ageingpopulation, communications, and the environment is being supported through the RSE, inpartnership with key funders in the public and private sectors. The Enterprise Fellowshipssupported research into diverse fields including: combating the Scottish midge; designingsails, developing an advanced aid for individuals with hearing impairments and producinga novel personal alarm system for the elderly. Through financial support from Scottish

Enterprise and the Particle Physics and Astronomy Research Council (PPARC) the EnterpriseFellows receive a years salary, business training, support funds and access to businessadvisers and mentors to assist them form their spin-out companies. Sixty SE and six PPARCEnterprise Fellowships have been awarded to date.

Do we approve of a Jury Systemfor Complicated Trials?The Rt Hon Lord Penrose, Senator of the College of Justice in Scotland and Professor GerryMaher, Commissioner of the Scottish Law Commission provided a stimulating debate-styleevent. Lord Penrose approved and argued that restricting the scope of solemn prosecutionwould undermine the role of juries and confer undue discretion on the prosecutor. Ourdomestic system should be altered where necessary, not radically reformed, he stated.Professor Maher argued that differing models of trial do not conflict with the principles ofour criminal justice system. Key to this, he said, is whether some complicated cases revolvearound what should be jury questions. There are ways of resolving demarcation problemsand reforming procedures, he argued.

Research AwardsA commitment to the future of Scotland's social, economic and cultural well-beingunderpins the Research Awards programme of the Royal Society of Edinburgh. Each yearmore than 1.5 million is made available to exceptionally talented academics and potential

entrepreneurs through the RSE. These awards enable some of the brightest researchersfrom home and around the world to develop their ideas here in Scotland. In this period,the Society awarded one BP Fellowship, one Lloyds TSB Foundation for Scotland PersonalFellowship and two PhD Studentships. With additional funding from the ScottishExecutive, the Society was able to award five Personal and three Support Fellowships.Six Cormack Vacation Scholarships, seven Lessells Travel Scholarships, six CRF EuropeanVisiting Research Fellowships and three Wellcome Trust Research Workshops werealso awarded.

Scotland and the Media A Question of TrustThere was a great deal of interest in this event which arose from concern about therelationship between the Scottish media, the Scottish parliament and the public, and alsoabout the ownership of the media itself. Chaired by Radio 4's Today programme Presenter,James Naughtie, participants included: former Downing Street Communications Director,Alastair Campbell; Lord Steel of Aikwood; the Editors ofThe Scotsman; The Sunday Herald,Scottish News of the World; Magnus Linklater, FRSE, Trevor Royle, FRSE and Professor PhilipSchlesinger, FRSE. Key issues explored included perspectives on the press coverage of theScottish parliament; the value of developing relationships towards a "healthier"

media, and efficacy of the Press Complaints Commission.

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The Royal MedalsHRH The Duke of Edinburgh, KG, KT, OM, Hon FRSE honoured the Societyin October 2003 by presenting Royal Medals to: Sir Michael Atiyah OM,PPRS, HonFRSE, for his profound and beneficial effect on the developmentof mathematics and science in the UK and Europe; to the Rt Hon LordMackay of Clashfern KT, PC, QC, FRSE, for his outstanding contributionsto Scots Law and public service, both within the UK and internationally;and to Professor Sir Paul Nurse FRS, HonFRSE, for his outstanding

contribution to genetics research, in particular its relevance to cancer,in which he has become a leading figure nationally and internationally.The Medallists were selected by the RSE in recognition of intellectualendeavour which has had a profound influence on peoples lives, world-wide.

The Scottish Parliament ScienceInformation SchemeThis pilot scheme was set up collaboratively by the Royal Society ofChemistry, the Scottish Parliament and the RSE, in association with theInstitute of Physics and the University of Edinburgh. It aims to supportMembers of the Scottish Parliament by giving them access to rapid, reliableand impartial information on science, engineering and technology-relatedissues. It has dealt with a number of queries from MSPs, including:alternatives to fishmeal for feeding farmed salmon; wind farms;effectiveness of ventilation to extract toxins in tobacco smoke andBroadband coverage in Scotland. RSE Fellows act as expert providersof information or as signposts to it.

The Value of the Performing ArtsProfessor John Wallace, OBE, FRSE, Principal of The Royal Scottish Academy of Musicand Drama gave an entertaining and informative illustrated lecture. He told a capacityaudience that the Performing Arts are a powerful educational tool, that they expand

societies consciousness and raise a nations game. Wherever they flourish he contended,so too do modern economies. He argued a case for the value of the Performing Arts inScotland and suggested that Scotland should be optimistic and invest further in them.

Scotlands Drug ProblemThe RSE brought together a group of experts from the UK and overseas to examinehow best to respond to the war against illegal drugs. The conference expressed cleardissatisfaction with the current position. It leaves too many drug users without helpor support and creates havoc in our communities. There appears, the conferenceconcluded, to be no relationship between policy interventions and prevalence, andthat there is a clear need for more evaluation about what works. Speakers includedMr Hugh Henry MSP, Deputy Minister for Justice; Professor Neil McKeganey, Director,Centre for Drug Misuse Research, Glasgow; Mr Robert Keizer, Head of AddictionPolicy Division, Dutch Ministry of Health and Welfare; Dr Peter Reuter, Professor

of Criminology and Criminal Justice, University of Maryland, USA; Mr Richard Brunstrom,Chief Constable, North Wales Police; Professor Alan Maynard, University of York;and Dr Magnus Linklater, FRSE.

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UK Science PolicyThe UK view on Research Councils was described by Sir John Taylor, OBE, FRS, DirectorGeneral, Research Councils, Office of Science and Technology, DTI when he visited theSociety in December 2003 to give a public lecture entitledWhat Next for UK SciencePolicy?He reflected on the main drivers and successes during his five years as DirectorGeneral, Research Councils in a wide-ranging, stimulating presentation given shortlybefore he retired from this post. He felt one of the significant achievements had beenthe creation of the Research Councils UK (RCUK) to improve the co-ordination between

the various Research Councils, especially in areas of overlapping interest. He also outlinedthe background to the Foresight process and how it had evolved.

Giving Young People a Voice& Hands-on MasterclassesScotlands Obesity Epidemic was the topic addressed when senior school students fromNorth East Scotland gathered at the Rowett Research Institute in June 2003 for an RSEYoung Peoples Discussion Forum, supported by the Darwin Trust of Edinburgh and theRowett Research Institute. Chaired by Professor Dominic Houlihan, of the University ofAberdeen, the students heard expert lectures from Dr James Stubbs and Dr Julian Mercer ,of the Rowett Research Institute and from Professor Iain Broom, Grampian UniversityHospitals NHS Trust. The students debated in workshop groups and came to conclusionswhich have been sent to key UK decision makers.Startup Science Masterclasses at theUniversity of St Andrews, University of Dundee, University of Glasgow, Heriot Watt Universityand Satrosphere have continued to be very popular, as have the long-running primary MathsMasterclasses. Physics Masterclasses run in conjunction with the University of Glasgow,were also held successfully in August/September 2003.

European ScienceProminent physician, endrocrinologist and bio-chemist, Professor tienne-mile Baulieu,President of the French Academy of Sciences, visited the Society in October 2003and addressed the Annual Statutory Meeting. Speaking to an invited audience ofinfluential scientists and decision-makers, Professor Baulieu, compared sciencefunding in Europe with that in the United States, and suggested the creation of anindependent European Research Council that might address the issues arising from thediversity of the European university systems and their links with research in each country,as well as take steps to lessen the ever-widening gap between research in Americaand Europe.

Evidence Advice & CommentThe expertise of the RSEs multi-disciplinary Fellowship was harnessed to provide twentyfour authoritative responses to a range of public consultations, including: CAP Reform:Opportunities for Scotland, being undertaken by the Scottish Executive Environmentand Rural Affairs Department; Inquiry into Renewable Energy in Scotland, at the requestof the Scottish Parliament's Enterprise and Culture Committee; The Future of HigherEducation, in response to an invitation from the Department for Education and Skills; andinto The Scottish Human Rights Commission, at the invitation of The Scottish ExecutiveJustice Department.

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Stem Cell Discussion Forum, BrusselsAs a follow-on event to the successful meetings held during the Scotland in Swedenprogramme in 2002, the RSE, the Scottish Stem Cell Network and Scotland Europa organiseda fruitful seminar in Brussels on Stem Cells in October 2003. Bringing together Europeanscientists, other experts in the field of stem cell research and officials of European Institutionsand Member States Governments, the seminar aimed to help inform the debate aboutproposed legislation, such as the Tissue Directive (Medicine: standards of quality and safetyof human tissues and cells) and guidelines for the future EU funding of stem cell researchunder FP6. The current state of stem cell research from the perspectives of science, clinicalapplication, law and ethics was presented by a delegation representing the field fromScotland, Spain and Sweden.

Activities for Young PeopleA week-long, non residential Summer Camp based at and in conjunction

with the University of Edinburgh on the theme of Science in Our Worldwas held in July 2003. Talk Science lectures (previously known as SchoolsLectures), which aim to enthuse secondary school pupils about science,engineering and technology, were held at schools around Scotland.The 2003 Christmas Lecture, Black Holes and White Rabbits was givenby Professor John Brown, FRSE, Astronomer Royal for Scotland at InvernessRoyal Academy. The RSE Roadshow was held on the Isle of Skye, as partof National Science Week in March 2004. Young Peoples awards werepresented to those who have made an extraordinary voluntary contributionto the Young Peoples Events. In August 2003 these were presented to:Dr Lesley Glasser MBE FRSE, Satrosphere; Dr Martin Hendry, Universityof Glasgow; Ms Heather Reid, BBC Scotland; Mrs Monica Lacey, Universityof Dundee and Dr Bruce Sinclair, University of St Andrews.

Showcasing Scottish Research and InnovationThe Societys expanding international programme seeks to support the best ofScottish-based research and innovation and to showcase it abroad, promoting the nationslatest developments in science and technology through new resources. Science Scotland

is an electronic and print publication created by the Society, in partnership with theScottish Executive, British Council Scotland and Scottish Development Internationalwhich features the best of science and technology in Scotland, with the objective ofraising awareness in an international audience. The first issue of Science Scotland waslaunched at the annual meeting of the American Association for the Advancementof Science, held in Seattle in February 2004.

Scotlands Contribution to AviationScotland's contribution to aviation was marked in November 2003 by the RSE whenProfessor Dugald Cameron OBE, Former Director of Glasgow School of Art and ProfessorRoddy Galbraith, Department of Aerospace Engineering, University of Glasgow gave anillustrated public lecture. In what was the centenary year of the Wright brothersachievements, the audience learned from Dugald Cameron that the Scots were among thepioneers of flight. Percy Pilcher began flying his gliders in 1895, followed in the 1900s byPreston Watson and the Barnwell brothers. Roddy Galbraith spoke of the past, present

and future of aerospace research at Scottish universities, with particular reference to theAerospace Engineering Department at Glasgow University.

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Voyages of DiscoveryThe Voyages of Discovery project aims to raise the profile of research excellencein Scotland, attract inward investment and also provide employment for high qualityresearchers in Scotland. The project, which arranges study tours to Scotland, bysmall, select groups of Chief Technology Officers or research managers of majorinternational companies, is a unique collaboration between Scottish DevelopmentInternational, the RSE, Universities Scotland and British Council Scotland. Two successful

tours were run in November 2003 and January 2004 on the respective themes of Energyand Life Sciences.

scottishscience

advisorycommittee

The Scottish Science AdvisoryCommittee (SSAC)The Scottish Science Advisory Committee (SSAC) which was setup under the auspices of the RSE to advise Scottish ExecutiveMinisters on science policy and strategy issues, established three

working groups which focused in on the key areas of ScienceEducation, Mechanisms for Scientific Excellence, and Science andSociety. The Committee published two reports which have beenwell received across the science community,Why Science EducationMatters: Supporting and Improving Science Education in Scottish

Schools and Science Matters: making the right connections forScotland. The latter report has laid the foundations for theCommittees next phase of work. The Society began an appointmentprocess to refresh the membership of the SSAC as it enters intothe second phase of its work.

SARSThe outbreak of Severe Acute Respiratory Syndrome (SARS) between February and July 2003resulted in over 8000 probable cases and presented major public health challengesworldwide. Few cases were detected in the UK, although the response was considerable,with early detection, isolation and reporting, as well as provision of guidelines and targetedinformation, being key components. In recent decades several new seasonally-occurringinfections with the potential to cause havoc have emerged. SARS may show a similar patternand there is a possibility it may return and be imported into Scotland. Dr Valerie Delpech ofthe Health Protection Agency's SARS Team and Dr Martin Donaghy, Clinical Director of the

Scottish Centre for Infection and Environmental Health gave an overview of the outbreakand outlined the strategies devised to protect us in the future.

Poland and the EUA further example of the productive partnership between the RSE and the BritishCouncil Scotland was the visit in January 2004 of Professor Danuta Hbner, Ministerfor European Affairs, Poland. Accompanied by the Polish Ambassador and Consul-General,the Ministers visit culminated in a public lecture, part of the Edinburgh Lectures Series,given at the RSE to a capacity audience. Professor Hbner explained why many, but notall in Poland supported accession to the EU. This arose from the historical, political andcultural situation in Poland and the desire to take an active part in the democratic heartof Europe. The timeliness of Professor Hbners visit was demonstrated by her beingconfirmed within 24 hours of her lecture, as Polish candidate for EU Commissioner.

Performing Arts image courtesy of the RSAMD Photo: Kevin Low

Jury System image courtesy of Scottish Court Service

Concorde image: illustration by Professor Dugald Cameron, OBE

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The aim in this financial year was to see the Society turn the corner after a number of difficult years. I am

happy to report that this has indeed been the case, with a surplus of 59,000 and a significant contribution

being made to the re-building of the General Fund. The Capital account also shows a welcome recovery,

largely due to an improvement in the investment portfolio in line with stock market recovery.

The increases in both income and expenditure (by nearly 20 and 17 per cent respectively) in the course of

the year, reflect the continuing development of Societys activities in line with the Corporate Plan. The support

for international activities and of additional Enterprise Fellows, as well as the Gannochy Trust Innovation Award,

has been very welcome. On the expenditure side, the promotion of research through research awards and

prizes has risen from 55 to 62 per cent of total expenditure, while science promotion and advice accounts

for a further 22 per cent of expenditure.

The forward budget is intended to deliver a continuation of this years outcome a modest surplus and a

continuation of the re-building of the General Fund to a medium-term target level of 3 6 months expenditure

on central costs. This is seen as part of our risk-management policy, running in parallel with the continuing

watchful eye on expenditure plans and staffing and administrative costs. This review has also suggested that

the Society should have an Audit Committee as an additional safeguard, and the Treasurers Committee can

then be disbanded.

The first fund-raising campaign continues to generate income but at a decreasing rate, and the costs of

generating income have declined. However, if the full objectives of the forward Corporate Plan are to be

realised, additional funds will be required, and initial steps are being taken to develop a second phase

of fund-raising designed to tap into different sources of funding.

In my final year as Treasurer, two comments should be added. First, despite considerable difficulties due to

substantial loss of rental income and a period of general financial downturn and uncertainty, the Society has

emerged with a balanced budget and a strengthened financial management and budgeting system. Second,

my task over the past five years has been enormously eased by the dedicated contributions of Kate Ellis and

William Duncan, whose support and advice to me have been invaluable. My very sincere thanks goes to both.

Laurence C Hunter

TreasurerSeptember 2004

Financial Report

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Income for year ended 31 March 2004 000 000

2004 2003

Promotion of research and innovation

Research awards Scottish Executive 564 19% 500 21%Research awards Scottish Enterprise 591 20% 313 13%Research awards charitable trusts 509 18% 389 16%

1664 1202

Science promotion and advice

Meetings 85 133

Education 6 42

Academic/industry links 3

International activities(including secondment of staff from British Council) 160 81

254 9% 256 10%

Scottish Executive grant for activities(mainly allocated to science promotion and adviceand including staff secondment) 406 14% 328 13%

Scottish Science Advisory Committee 156 5% 150 6%

Own income

Fellows subscriptions 146 133Other donations 59 75Interest and dividends 155 113

360 12% 321 13%Appeal receipts 57 2% 183 8%

Total income 2897 100% 2440 100%

IncomeResearch Awards Scottish Executive 19%

Research Awards Scottish Enterprise 20%

Research Awards charitable trusts 18%

Science Promotion & Advice 9%

Scottish Executive grant for activities 14%

Scottish Science Advisory Committee 5%

Own Income 12%

Appeal Receipts 2%

Expenditure for year 000 000

ended 31 March 2004 2004 2003

Cost of generating funds 9 1% 84 3%

Promotion of research

Research awards 1626 57% 1274 53%Prizes and grants

137 5% 37 2%

Science promotion & advice

Publications 21 23

Meetings 240 282

Educational activities 65 79

Academic/ industry links 10 10

International activities 186 119

Evidence, advice & comment 115 94

637 22% 607 25%

Scottish Science Advisory Committee 156 5% 150 6%

Fellowship Office 49 2% 45 2%

Buildings management & administration 223 8% 229 9%

Total expenditure 2837 100% 2426 100%

Net incoming resources for the year 60 14

ExpenditureResearch Awards 57%

Prizes and grants 5%

Science Promotion & Advice 22%

Scottish Science Advisory Committee 5%

Fellowhip Office 2%

Buildings, management & administration 8%

Cost of generating funds 1%

Balance Sheet 31 March 000 0002004 2003

Tangible Fixed Assets 2476 2531

Fixed Asset Investments 1989 1732

Loan to RSE Scotland Foundation 2031 2078

6496 6341

Current Assets 961 756

Current Liabilities (410) (366)

Net Assets 7047 6731

Represented by:General Funds 69 1

Designated Funds 5764 5677

Restricted Funds 1214 1053

7047 6731

These figures have been extracted from the audited accounts

for the period ended 31 March 2004 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

Independent Auditors statement

We have examined the summarised financial information which is prepared

for the purpose of inclusion in the Societys annual review.

The Council is responsible for the preparation of the financial information.

We have agreed to report on its consistency with annual accounts on which

we reported on 20 September 2004.

Basis of opinion

We have carried out the procedures we consider necessary to ascertainwhether the summarised review is consistent with the annual accounts

from which it has been prepared.

Opinion

In our opinion the financial review is consistent with the annual accounts

for the year ended 31 March 2004.

Henderson Loggie, Edinburgh

Financial Review

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Providing public benefitthrough the advancement of

learning and useful knowledge

Royal SocietyofEdinburgh

TheTHE ROYAL SOCIETY OF EDINBURGH

22 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

annual review april 2003 – march 2004

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