**REGISTERED COMPANY NUMBER: 2691654 REGISTERED CHARITY NUMBER: 1009826** ## **REPORT OF THE TRUSTEES AND** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **FOR** **THE SOCIETY FOR THE STUDY OF ADDICTION** **THE SOCIETY FOR THE STUDY OF ADDICTION** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ||**Page**| |---|---| |**Reference and Administrative Details**|1| |**Report of the Trustees**|2 to 11| |**Report of the Independent Auditors**|12 to 15| |**Statement of Financial Activities**|16| |**Statement of Financial Position**|17 to 18| |**Statement of Cash Flows**|19| |**Notes to the Statement of Cash Flows**|20| |**Notes to the Financial Statements**|21 to 29| **THE SOCIETY FOR THE STUDY OF ADDICTION** **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2022** **TRUSTEES** Dr E J Day (President) # Professor E Gilvarry (Vice President) ~ Dr A Dhandayudham (Treasurer) Dr D Rumball (Chair of Governance) - Dr O Bowden-Jones Dr T Freeman (appointed 5/11/21) Professor M Hickman + Dr J Marshall & Professor C I Matheson Professor J M A Sinclair Professor Sir J S Strang = Dr S L Welch * ## # Chair Communications Committee ~ Co-chair Professorship Scheme panel - + Chair PhD Studentship Scheme panel - Chair Governance Committee, Chair Bursary Scheme panel - Chair Conferences Committee = Chair Academic Fellowship Scheme panel, Co-chair Professorship Scheme panel & Chair Travelling Scholarship Scheme panel **COMPANY SECRETARY** Professor C I Matheson **REGISTERED OFFICE** Room 5 Rothersthorpe House 4 Billing Road Northampton NN1 5AN **REGISTERED COMPANY** 2691654 **NUMBER REGISTERED CHARITY** 1009826 **NUMBER AUDITORS** DNG Dove Naish LLP, Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ **CHIEF OFFICER** Mr M Wheeler Page 1 **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** 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 March 2022. 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 applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** The Society's principal activity is to add to and promote the scientific understanding of addiction and problems related to it, and to advocate the use of the evidence base in policy and practice. The Society's main aims and objectives are as follows: ## **Aims** - To support the human capital of addiction researchers and practitioners - To preserve and develop the integrity and quality of and innovation in the addictions field - To harness and communicate the evidence base to inform policy and practice - To identify and address the problems of individuals and populations of special vulnerability and liability to harm. ## **Objectives** - To support publication of the Society journals - To have schemes to support training and education in addiction careers - To make available travelling scholarships - To organise and hold an annual conference, for members and non-members - To support addictions conferences - To explore and disseminate innovations in theory and practice - To communicate the evidence base to policy makers - To support specific policy projects - To communicate research findings to practitioners - To support the setting up of addictions professionals' associations and societies - To maintain the Society website and online resources In setting the objectives the trustees have given careful consideration to the Charity Commission's general guidance on public benefit. The trustees believe the aims and objectives above will lead to clear public benefit as the activities of the Charity are disseminated to front line practitioners. ## **Grant making policy** The Society is committed to ensuring that good quality evidence is transposed into clinical practice and policymaking in the addictions field, and an important way of doing this is by investing funds to help build career pathways in addictions research. For many years the Society has offered financial support to individuals to undertake undergraduate and Masters degrees, a fully-funded PhD studentship programme and post-doctoral fellowship positions. Grants are also awarded as part of the Travelling Scholarship scheme to support a member or associate of the Society to travel to international meetings, and/or laboratories and/or clinics, to enhance their training. Applications for all grants are invited from members and student associates at set times of the year and panels consisting of trustees, and occasionally other specialists selected by the Board, carry out a shortlisting and award process based on criteria set out on the Society's website. Page 2 **THE SOCIETY FOR THE STUDY OF ADDICTION** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **ACHIEVEMENT AND PERFORMANCE PRESIDENT'S REPORT - A REVIEW OF THE YEAR'S ACHIEVEMENTS AND FUTURE PLANS** The year 2021/22 has marked the Society's return to operating in the way it had done before the COVID-19 pandemic. As with many organisations, the past two years involved moving meetings, events, interviews and ultimately the SSA Annual Conference online. All SSA staff as well as the many people who work on Addiction and Addiction Biology, have done this with dedication and efficiency. In many ways, the transition to online operations has helped the SSA to identify new ways of working that will extend beyond the pandemic. Ways that will improve access to support and information and that will facilitate collaborations across wide geographical areas. The online conference in 2021 was a success with high numbers of delegates attending from across the globe. As with previous years the strength of the conference was in the diversity of research on the programme - a programme that is detailed later in this report. This year, we are organising an in-person Annual Conference and PhD Symposium. These face new challenges as we adapt back towards new and old ways of working. The journals continue to publish and support world-leading research. Their professionalism and continued excellence illustrated by the rising impact factor for Addiction and the steady and high impact factor for Addiction Biology in what has been a difficult period for lab-based research. Both journals continue to innovate in a challenging publishing environment. Addiction will be online only from January 2023. The SSA website and social media presence continues to develop, with both becoming key resources for the field. The link between the SSA website and Addiction's own social media editor and podcast is a strength that we will build on in the coming years. The website not only supports the Society in delivering on its aims, notably to improve the understanding of addiction, but it also works to build capacity for better science communication across the board by offering support, coaching and training to people who would like to write blogs, develop podcasts or commission videos. The next few years will see this area of activity expand further with the engagement of a social media Officer, enabling far greater coordination across the website and development of a presence on multiple social media platforms. On what is often seen as the 'business-as-usual' side of the SSA are the funded PhDs, fellowships, bursaries, travelling scholarships, projects, conferences and other funding schemes. Yet none of these are even remotely 'as-usual'. This report that follows gives a quick overview of the impressive range of research supported by the SSA. Subjects include autism, youth prevention, virtual reality interventions, drug consumption rooms along with a multiplicity of innovative methods to match. The SSA is proud to fund these projects and is committed to supporting their completion and dissemination. Through this combination of supporting people and projects and building capacity for improved science communication, the SSA sets itself apart as a society that leads in the field of addiction, and one that makes a difference to how the evidence base is used in policy and practice. As always, the President is indebted to the hard work of the Board of Trustees in running our various schemes, prizes and events. All the members of the Board give large amounts of their time and energy, and this is what makes the SSA such a strong organisation. Finally, a huge thanks must go to all SSA staff for their enthusiasm and hard work in the last 12 months. Dr Ed Day President Page 3 **THE SOCIETY FOR THE STUDY OF ADDICTION** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **Society Journals** ## **Addiction** In the journal's reporting year ending 31 December 2021, Addiction received 1,089 original article submissions. The acceptance rate for unsolicited material was 19% and 272 research reports and reviews were published. The journal's impact factor increased from 6.53 in 2020 to 7.26 in 2021. Professor John Marsden continues as Editor-in-Chief and Commissioning Editor, supported by Professor Keith Humphreys as Deputy Editor-in-Chief, Professor Matt Hickman as Regional Editor for Africa, Asia and Europe, and Molly Jarvis as Deputy Commissioning Editor. Also continuing in their roles are Professor Shane Darke as Regional Editor for Australasia, Dr John Stapleton as Statistics and Methodology Editor, Dr Rob Calder as Addiction News and Social Media Editor, Dr Jean O'Reilly as Book Review Editor, and Professors Wayne Hall, Robert West and Jalie Tucker as Strategic Advisors. Dr Christine Timko is now Regional Editor for the Americas, supported by Dr Suzanne Colby and Dr Christina Andrews as Deputy Regional Editors. Journal Manager Gill Rangel continues as Editorial Manager for the Americas and Africa, Asia and Europe, supported by Florence Wissler as Associate Journal Manager. Margaret Eagers-Rickit (Australian office), Molly Jarvis and Jean O'Reilly continue as Editorial Managers. Commissioning of methodology articles and discussion papers continues to work well. Two ongoing series on clinical issues help to build connections between theory and practice and widen our readership. Addiction has 14,900 Twitter followers. 'Key findings' and links to press releases are tweeted as articles are published. The journal team hosted a very successful meeting in May 2022 with regional editors and other colleagues. The agenda was narrowed to focus on processes for screening and reviewing submissions and how the journal can harness the Wiley Insights reporting platform to review the impact of material we publish. Some very good feedback was received from attendees, and the editorial team plan to make some further adjustments to this new format for future meetings. Wiley will soon be conducting a gender and race/ethnicity survey of decision-making editors across all their journals (including Addiction), following the Royal Society for Chemistry's joint commitment schema. Timing has not yet been confirmed but should be summer 2022, and the journal will be supporting the survey and encouraging Addiction editors to respond. Once the editorial team have the data from Wiley they will review and consider recommendations for the journal. From next year, Addiction will be online only as part of the journal's commitment to reducing the carbon footprint of journal production with the publisher. ## **Addiction Biology** In the journal's reporting year ended 31 December 2021, Addiction Biology received 253 original article submissions. The acceptance rate was 48% and 118 papers were published. The journal's impact factor decreased slightly from 4.28 in 2020 to 4.093 in 2021 and is at number eleven in the Substance Abuse (SCI) category. Professor Rainer Spanagel continues as the Editor-in-Chief. There are two Senior Editors for the Americas, Professors Rajita Sinha and Rosana Camerini, and Professor Antoni Gual continues as Senior Editor for Europe, Africa, Asia and Australia in Human Studies. The journal continues to pay close attention to opportunities and threats arising from the changing publishing scene and the demand for open access continues to grow, as more funders develop open access publishing mandates. Addiction Biology currently remains a hybrid journal and in 2021 30% of the papers were published Open Access, helped by read and publish agreements. The number of institutions with access to the journal in 2021 was 6,963 (a very slight decline compared to 2020 and not out of line with other Wiley titles). Usage increased by 49% in 2021. Page 4 **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **E-communications: Website and Twitter** ## **Website** The SSA website continues to be a well-used resource dedicated to disseminating research findings to people who work in practice, policy and research. Over the course of a typical month, the website receives around 15,000 pageviews and around 5,500 website users. We have broadened the range of topics and content types over the past year, and now include articles on subjects ranging from the impact of COVID-19 on addiction research, a blog about being autistic and drinking alcohol, a summary of the UK drug strategy and access to drug treatment services in Oman. In the past two years the news section of the website has grown from being relatively small and undeveloped to representing a prominent resource in the sector. We will continue to develop the scope of this part of the website to improve the understanding of addiction and to support researchers develop skills in science communication. ## **Newsletter** The newsletter remains a key tool for communicating with SSA members, subscribers and student associates. The newsletter is circulated every two weeks to over 1,500 people to promote SSA work, publications, addiction research and related news stories. ## **Social Media/Twitter** Twitter is still our main social media outlet. We have over 8,000 Twitter followers: a number that continues to grow each month. We have now commissioned a social media review and will update our social media presence in early 2023. This review will summarise the social media activity of similar charities and journals and will identify popular forms and types of content. It will also identify key people in addictions with strong social media presence. This review is expected to be complete in November 2022. ## **Podcasts** The SSA now runs and supports three podcasts. Each is designed for a different user group and in combination they provide a wide range of topics that reach a wide range of people. ## Addiction Audio This podcast runs in association with Addiction and comprises interviews with authors who have published in the journal. Whilst the podcast is aimed at researchers, it is recorded in a way that makes complex research questions accessible for people working outside of academic settings. ## PhD: Addicted to Research The PhD: Addicted to Research podcast is run by SSA-funded PhD students and is aimed at early career researchers and other PhD students. This has covered topics relating to PhD milestones (e.g., upgrade, writing the PhD thesis, and transitioning from PhD to post-doc), as well as having subject specific episodes around issues such as ketamine and mendelian randomisation. ## Addictions Edited The SSA podcast was initially launched as a news and research summary programme but is being re-launched as a subject-specific podcast producing audio documentaries on issues relating to addiction. The podcast will also feature interviews with people who work in policy, research and practice. Page 5 **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **Website strategy and future plans** In late 2022, we plan to expand the website team by bringing in a permanent employee to lead on social media. This will increase our capacity to launch coordinated campaigns to increase the understanding of addiction and to disseminate research findings more effectively. We are also planning to build capacity for improved science communication in the sector by providing direct training and seed funding for people who work in the sector and who want to start their own podcasts, blogs or videos. Through these two developments, we will increase our ability to produce high quality content as well as increasing the capacity for effective science communication in addictions. ## **Academic Schemes** ## **Griffith Edwards Academic Fellowship Scheme** This scheme was launched in 2012 and has now funded ten SSA fellows. Seven fellows have graduated from the scheme and remain working in addiction research. The scheme is now well established in UK addiction academia and continues to support its graduates with longer term career growth. In 2022 Dr Sophie Orton at the University of Nottingham became the latest SSA fellow with her work 'Smoking reduction for pregnant women who cannot stop smoking: A new way for the NHS to improve birth outcomes and infant health'. Details of all SSA fellows can be found on the Society's website. ## **Post-doctoral Transitional Development Scheme** Successful applicants for this scheme can receive salary support for up to 12 months towards post-doctoral development of research applications, provided that the host University makes at least a matching contribution. The scheme's purpose is to support promising early-career researchers in the period between completing their doctorate and securing their first substantial post-doc position. Applicants must either have recently completed their doctorate or have submitted their thesis and be awaiting examination or undertaking corrections. Drs Carol-Ann Getty and Erikas Simonavicius, both based at King's College London received support during this year. ## **PhD Studentship Scheme** As in 2021, interviews for the PhD Studentship awards were conducted via video conference, with six students shortlisted. This year, due to the high quality and quantity of applications, the panel agreed to fund three PhD students: Annika Theodoulou at Oxford University with 'Investigating socioeconomic inequalities in smoking cessation behaviours and outcomes'; Benjamin Scher also at Oxford University with 'Exploring the relationship between drug policy and the lived experience of addiction: A comparative rapid-ethnographic study between Canada, the U.K. and the U.S.'; and Tricia McQuarrie at Middlesex University with 'Translating research into practice: An investigation into the adaptation, translation and implementation of contingency management into the routine clinical practice of UK drug and alcohol treatment services'. Details of all PhD Studentship recipients, final reports and publications resulting from their SSA-supported research can be found on the Society's website. ## **Bursary Scheme** Thirty-seven applications were received between 1 April 2021 and 31 March 2022, of which 29 were awarded bursaries. Twenty-three of the applications were for multiple-module study, and all but four were at Masters level. The amount of funding requested varied between £1,395 and £13,380 - although the maximum award remains capped at £4,500. Applications were received from students at 12 different universities. ## **Travelling Scholarship Scheme** There were no opportunities for travelling scholarships during the COVID-19 pandemic as travel was restricted and in-person events or meetings were largely prohibited. Since April 2022, however, applications have resumed and we look forward to reporting on the outcomes of this scheme in next year's report. Page 6 **THE SOCIETY FOR THE STUDY OF ADDICTION** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **Annual Conferences, 2021** ## **Annual Conference** The Society's Annual Conference took place online on 4 and 5 November 2021. The decision to hold the conference online was based on the success of the 2020 conference, alongside news of the ongoing pandemic and the associated restrictions on large gatherings. The conference committee built on their experiences from 2020, using the same platform 'HopIn' in collaboration with Jump Media to whom we are very grateful. To optimise engagement and interaction (which is a challenge for online events), each session was followed by a chaired live discussion. These were held in parallel with delegate paper sessions. Parallel scheduling was also used on the second day to run special sessions simultaneously in different rooms. Dr John Kelly gave the Society Lecture, 'Addiction recovery: From culture to science', on the Thursday (4 November), followed by a 30-minute discussion session with questions from the delegates. As with 2020, delegate posters were presented online with a three-minute, pre-recorded narration from the lead author. This session was popular and effective in both 2020 and 2021. Almost 70 papers were accepted in 2021 and a panel of independent judges reviewed the posters and made six awards. We invited themed symposia submissions from SSA members and associates. Four of which were selected: 'The challenge of benzodiazepine use in the context of escalating drug deaths'; 'Avon Longitudinal Study of Parents and Children (ALSPAC) 1 - What influences the development of substance use harms?'; and 'Responding to the use of anabolic androgenic steroids' and 'Alcohol Care Teams: where to next?'. The conference opened with a special, plenary session run in collaboration with the European Federation of Addiction Societies: 'Addiction training opportunities in Europe: a joint SSA/EUFAS symposium', with four further special sessions: 'In recognition of Professor Malcolm Lader'; 'Autism, addictive behaviour and substance use disorders'; 'Global perspectives on Covid-19 and substance misuse: A report from the ICARA webinar series'; and 'Youth in Iceland model: Showcasing the work and findings of the part-SSA-funded, Youth in Iceland Model project'. The regular 'SSA-sponsored' session featured Fred Yates prize-winner, Dr Sarah Jackson who presented on: 'Quitting in the time of Covid? Associations of the pandemic with changes in smoking, drinking, and quitting in England'; post-doctoral transitional development researcher, Dr Carol-Ann Getty on 'Exploration of patients' beliefs, acceptability, and experience of mobile telephone-delivered Contingency Management'; and SSA Academic Fellow, Dr Nathan Critchlow on 'Examining the implementation and early impact of the Public Health (Alcohol) Act in Ireland: Findings from two data sources'. The Conference closed with a session featuring Dame Carol Black (the author of the UK government's review of drugs) who talked to SSA president, Dr Ed Day about 'Improving drug treatment and recovery: Independent Review of Drugs Part 2'. Delegate numbers were high with attendees coming from 12 countries and five continents. ## **PhD Symposium** The PhD Symposium was held on 3 November 2021, and was primarily organised by SSA PhD Studentship recipient, Maike Klein and Academic Fellows, Dr Nathan Critchlow, Dr Inge Kersbergen and Dr Katie East. The PhD Symposium brings together PhD students from a range of disciplines, institutions, and stages in their studies, to learn about each other's work, exchange ideas, and foster supportive and productive networks. It also symbolises the Society's appreciation of PhD students' work and commitment. The 2021 PhD Symposium again preceded the SSA Annual Conference and was also held online. Sixty-one delegates registered for the event; 31 submitted abstracts, of which 24 were accepted (the maximum number of speakers that the programme could accommodate). The online format meant that people could attend from around the world, this year we welcomed delegates from Denmark, India, Ireland, New Zealand, Norway and Sweden. Page 7 **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** The day was divided into five sessions which ran in parallel in two Zoom 'rooms'. We ran a special lunch-time session about getting published which was co-hosted by the SSA Early-Career Researcher Network. The panel was made up of editors at Addiction: Professor John Marsden, Professor Jo Neale and Dr Emma Beard. This session highlights the benefits from strong collaborative work across the SSA and journals. Feedback from attendees at the 2021 PhD Symposium was overwhelmingly positive and included several constructive suggestions for the future. ## **The Fred Yates Prize** The 2022 prize was awarded to Dr Claire Garnett of University College London. Dr Garnett has carved out a unique area of work developing the Drink Less smartphone app; has led on three successful grant applications linked to this area of work; and has written numerous first author publications with evidence of high impact. We particularly recognised her work with Public Health England (now the Office for Health Improvement and Disparities) and the National Institute for Health and Care Excellence alongside her regular participation in media work. ## **Projects, Conference Support and other initiatives** ## **SABAA: Substance use, Alcohol and Behavioural addictions in Autism** This is an ongoing project to identify what is known and what knowledge gaps exist on autism and addiction. The project, led by Professor Julia Sinclair (an SSA trustee) involves running a Delphi process; bringing together experts to agree on a list of policy, treatment and research priorities for the sector. We have worked with the SABAA project team to develop a microsite and a podcast about their work. ## **Love my Lungs - smokefree homes support for families admitted to neonatal intensive care** This ongoing project led by Professor Caitlin Notley began in July 2021 and aims to produce immersive (virtual reality) evidence-based educational materials to support families of babies admitted to neonatal intensive care units to maintain smokefree homes. The project has produced a series of videos, developed a website and will organise a national launch event. ## **Conference support** ## **Early Career Alcohol Research Symposium** The Early Career Alcohol Research Symposium application was led by Dr Ines Henriques-Cadby. The conference had been running online for two years prior to the SSA funding, with the 2022 edition a hybrid event for 50 delegates. There was no attendance fee, and the organisers provided bursaries to widen participation across a range of under-represented groups. ## **The 2nd Current Advances in Gambling Research Conference** This conference was held in Cardiff in May 2022 and led by Dr Steve Sharman. It brought together academic experts in behavioural science, addiction, clinical treatment services, economics, social sciences and neuroscience to discuss the latest developments in gambling research. The conference was independent of industry influence. The SSA provided a camera crew to make short informational videos about gambling research, policy and treatment. ## **Alcohol: No ordinary commodity (3rd edition)** We are supporting the authors and editorial team to produce a third edition of this successful, award-winning book which will be launched in late 2022. Page 8 **THE SOCIETY FOR THE STUDY OF ADDICTION** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **FINANCIAL REVIEW** ## **Investment policy and performance** In accordance with its governing document, the Society is empowered to invest its monies not immediately required for its purposes, in investments, securities or property as may be thought fit, subject to any statutory requirements and noting that investment should not be made in commercial companies connected with gambling, tobacco or alcohol. The Society's long-term investments are held in a professionally managed and ethical investment fund, in keeping with the Society's aims. The fund is a well-diversified combination of predominantly quoted shares, together with an allocation of lower risk fixed interest and alternative securities held via an investment fund specifically available to charities and similar institutions and which aims to achieve long-term returns. As of 31 March 2022, the long-term investment portfolio had increased by around 2.4% compared with the March 2021 valuation. The strong gains the Society reported in its March 2021 accounts were not repeated in the last twelve months. Whilst for much of 2021 financial markets performed strongly, the first quarter of 2022 saw concerns around rising inflation and interest rates caused markets to fall. This was further exacerbated by the invasion of Ukraine. The impact of low rates of interest also caused a small decrease in the income the Society received from its investments. The trustees are satisfied with the returns of the investment funds during a time of continued uncertainty and continue to monitor the on-going performance. In addition, the Society continues to hold a proportion of its reserves in bank treasury term deposits. The proportion of total reserves held in non-cash investments and cash deposits is monitored and maintained in accordance with a policy statement set by the trustees, aided by ongoing investment advice all of which is reviewed regularly. ## **Results** Net income for the year amounted to £27,307 (2021: net income of £647,763). ## **Assets** The assets are held in pursuance of the company's charitable objectives. The net assets of the unrestricted funds at 31 March 2022 amount to £4,986,818 (2021: £4,959,511). ## **Reserves policy** The Board of trustees has determined that the Society should maintain unrestricted funds which are not invested in tangible fixed assets or fixed asset investments (the 'free reserves') at a level representing a year's expenditure. This would provide sufficient funds to complete the publication of the journals, meet overhead costs and wind up the charitable company if necessary. At the year end, the 'free reserves' amounted to £1,284,024 (2021: £1,782,077) which is in excess of the stated policy. The Board has prepared a five-year plan to increase expenditure on various initiatives, in line with the Society's core objectives, which will reduce this excess. Page 9 **THE SOCIETY FOR THE STUDY OF ADDICTION** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Society for the Study of Addiction (the Society) is established for charitable purposes and is constituted as a company limited by guarantee governed by its Articles of Association, last amended in November 2012. ## **Organisation** The trustees of the Society (the Board) are elected by the membership and their role is to provide scientific direction, business and financial administration to the charitable company. The Board shall have not less than three, nor more than 15 members, of whom no more than 12 are elected by the membership of the Society at the Annual General Meeting, with the Board having the power to co-opt up to a maximum of three additional members with the same powers as elected members. Trustees serve until the end of the third Annual General Meeting following the one at which they were elected. The membership of the Board is set out on page one. All served on the Board throughout the year apart from Dr Tom Freeman who was appointed on 5 November 2021. No trustee has any beneficial interest in the Society. A Chief Officer is appointed by the trustees to manage the day to day operations of the Society. The editors of the Society's journals are appointed by the trustees. ## **Governance** The Officers of the Board consist of the President, Vice President, Treasurer and Chair of Governance, together with other officers as deemed necessary by the Board. Sub-committees and panels exist to monitor the Society's finances, governance and its academic schemes, journals and other publications. The governance committee consists of a number of trustees and the Chief Officer and it considers good practice and the mitigation of risk in depth as summarised below. It reports to the Board as appropriate during the year and more formally at one meeting each year. Training in aspects of good governance is given to trustees and an induction process is carried out for all new trustees. ## **Risk management** The Trustees have taken careful account of the current risk exposure of the Society and are confident that they have properly protected the interests of the Society and are able to meet foreseeable liabilities. We are able to confirm that we have procedures in place that mitigate risks. The main risks identified are as follows: Reputational - measures are in place to mitigate this risk, specifically in relation to our Journals, e- communications, interaction with industry, third party relationships and conflicts of interest. The Board discuss and monitor this issue and receive reports from committees and Journal staff at each Board meeting. Appropriate levels of insurance cover are also maintained. Financial sustainability - recent levels of income from our journals combined with strong investment performance has allowed us to maintain a healthy level of reserves. However, the volatility of the investment markets means that this may not always be the case and we therefore review the strategy on a regular basis and using professional advice. Reports are received from the Journal's publishers on a quarterly basis and with an increase in multi-year subscription licenses, future income levels can be reasonably predicted for a two or three year period. Operational risks - these are considered by the Board on a regular basis and an appropriate system of reviews and controls has been installed to mitigate financial risk (e.g., fraud) and non-financial risk (e.g., trustee recruitment and workloads and all aspects regarding health and safety). The Board has also considered risks within the broad definition of safeguarding. ## **Remuneration policy** The pay of all staff is reviewed annually by the President and Treasurer. The Chief Officer's remuneration package is benchmarked against those in a similar role working for Charities of a comparable size. Page 10 **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees (who are also the directors of The Society for the Study of Addiction 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, DNG Dove Naish LLP, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on 12 October 2022 and signed on its behalf by: ................................................................. Dr E J Day (President) Page 11 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SOCIETY FOR THE STUDY OF ADDICTION** ## **Opinion** We have audited the financial statements of The Society for the Study of Addiction (the 'charitable company') for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ## In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 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; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 12 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SOCIETY FOR THE STUDY OF ADDICTION** ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - the charitable company has not kept adequate accounting records; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, 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, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 13 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SOCIETY FOR THE STUDY OF ADDICTION** ## **Our responsibilities for the audit of the financial statements** We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry sector; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and - investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - reading the minutes of meetings of those charged with governance; - agreeing financial statement disclosures to underlying supporting documentation; - enquiring of management as to actual and potential litigation and claims; and - reviewing correspondence with HMRC and other relevant parties. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 14 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SOCIETY FOR THE STUDY OF ADDICTION** ## **Use of our report** This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed. DNG Dove Naish LLP, Statutory Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ Date: 14 October 2022 Page 15 **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022** |Notes
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
3
Publishing contracts
Membership subscriptions
Conference income
Other income
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
4
Journal expenses
Annual conference
Project funding and prizes
Grants and bursaries
Website
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|2022
Unrestricted
funds
£
1,023,096
33,854
9,255
15,420
88,436
1,170,061
426,832
62,113
97,352
469,167
162,650
1,218,114
75,360
27,307
4,959,511
4,986,818|2021
Unrestricted
funds
£
1,074,486
35,408
12,821
18,233
97,480
1,238,428
472,516
61,941
79,796
386,228
145,785
1,146,266
555,601
647,763
4,311,748
4,959,511| |---|---|---| The notes form part of these financial statements Page 16 **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **STATEMENT OF FINANCIAL POSITION 31 MARCH 2022** |Notes
**FIXED ASSETS**
Investments
10
**CURRENT ASSETS**
Debtors
11
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
12
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
13
Unrestricted funds
**TOTAL FUNDS**|2022
Unrestricted
funds
£
3,702,794
225,406
1,531,579
1,756,985
(472,961)
1,284,024
4,986,818
4,986,818
4,986,818
4,986,818|2021
Unrestricted
funds
£
3,177,434
44,422
2,280,166
2,324,588
(542,511)
1,782,077
4,959,511
4,959,511
4,959,511
4,959,511| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 17 continued... **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2022** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 12 October 2022 and were signed on its behalf by: ............................................. E J Day (President) ............................................. E Gilvarry (Vice President) The notes form part of these financial statements Page 18 **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of fixed asset investments
Interest received
Dividends received
Net cash (used in)/provided by investing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|2022
£
(387,023)
(387,023)
(450,000)
784
87,652
(361,564)
(748,587)
2,280,166
1,531,579|2021
£
21,852
21,852
-
2,635
94,845
97,480
119,332
2,160,834
2,280,166| |---|---|---| The notes form part of these financial statements Page 19 **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022** |**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**| |---|---|---|---|---| ||||2022|2021| ||||£|£| ||**Net income for the reporting period (as per the**|**Statement of**||| ||**Financial Activities)**||27,307|647,763| ||**Adjustments for:**|||| ||Gain on investments||(75,360)|(555,601)| ||Interest received||(784)|(2,635)| ||Dividends received||(87,652)|(94,845)| ||(Increase)/decrease in debtors||(180,984)|14,073| ||(Decrease)/increase in creditors||(69,550)|13,097| ||**Net cash (used in)/provided by operations**||(387,023)|21,852| |2.|**ANALYSIS OF CHANGES IN NET FUNDS**|||| |||At 1/4/21|Cash flow|At 31/3/22| |||£|£|£| ||**Net cash**|||| ||Cash at bank and in hand|2,280,166|(748,587)|1,531,579| |||2,280,166|(748,587)|1,531,579| ||**Total**|2,280,166|(748,587)|1,531,579| The notes form part of these financial statements Page 20 **THE SOCIETY FOR THE STUDY OF ADDICTION** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' 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 presentation currency of the financial statements is the Pound Sterling (£). ## **Legal form** The charity is a company limited by guarantee registered in England and Wales. Its registered office is as shown on page 1. ## **Going concern** At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Policies on specific income streams are: ## **Investment income** Investment income, including associated income tax recoveries, is recognised when receivable. ## **Royalty income** Royalty income is received based upon the terms of a contract drawn up in conjunction with the Society's publishers. The contract states that the Society is entitled to a share of the profit for each calendar year that the journal is produced. In the accounts for the year ended 31 March 2022 this therefore represents 75% of the relevant profit share for the year ended 31 December 2021 together with 25% of the estimated profit share for the year ending 31 December 2022. ## **Membership subscriptions** Membership subscriptions are recognised when received. ## **Government Grants** Government grant income is recognised as it is receivable, to the extent that the grant has been expended by the end of the financial year. ## **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. ## **Allocation and apportionment of costs** Support costs are allocated on a percentage based on time spent on each charitable activity. Page 21 continued... **THE SOCIETY FOR THE STUDY OF ADDICTION** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **1. ACCOUNTING POLICIES - continued** ## **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. ## **Foreign currencies** Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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. ## **Tangible fixed assets** The charity has a policy of capitalising individual assets over the value of £1,000. ## **Financial instruments** Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. ## **Significant Judgements and Estimates** The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies above. ## **2. INVESTMENT INCOME** |Dividend income
Deposit account interest|2022
£
87,652
784
88,436|2021
£
94,845
2,635
97,480| |---|---|---| Page 22 continued... **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **3. INCOME FROM CHARITABLE ACTIVITIES** |Activity
Publishing Income -
'Addiction
Publishing contracts
Publishing Income -
'Addiction Biology'
Publishing contracts
Membership subscriptions Membership subscriptions
Conference income
Conference income
COVID-19 Grants
Other income
Other income
Other income|2022
£
945,044
78,052
33,854
9,255
-
15,420
1,081,625|2021
£
987,470
87,016
35,408
12,821
2,500
15,733
1,140,948| |---|---|---| ## **4. CHARITABLE ACTIVITIES COSTS** |Direct
Costs
£
Journal expenses
410,715
Annual conference
13,767
Project funding and prizes
65,122
Grants and bursaries
-
Website
130,420
620,024
**5.**
**GRANTS PAYABLE**
Grants and bursaries
The total grants paid to individuals during the year was as
Grants to individuals|Grant
funding of
activities
(see note
5)
£
-
-
-
436,937
-
436,937
follows:||Support
costs (see
note 6)
£
16,117
48,346
32,230
32,230
32,230
161,153
2022
£
436,937
2022
£
436,937|Totals
£
426,832
62,113
97,352
469,167
162,650
1,218,114
2021
£
354,318
2021
£
354,318| |---|---|---|---|---| |||||| |||||| Grants paid to individuals are bursaries, studentships and fellowships for addiction studies and research. Page 23 continued... **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **6. SUPPORT COSTS** |Management
£
Journal expenses
14,072
Annual conference
42,212
Project funding and
prizes
28,140
Grants and bursaries
28,140
Website
28,140
140,704|Finance
£
198
595
397
397
397
1,984|Information
Governance
technology
costs
£
£
181
1,666
544
4,995
363
3,330
363
3,330
363
3,330
1,814
16,651|Totals
£
16,117
48,346
32,230
32,230
32,230
161,153| |---|---|---|---| Support costs, included in the above, are as follows: ## **Management** |Staff costs
Office and other administration costs
Staff costs
Office and other administration costs
**Finance**
Bank charges|Grants
and
bursaries
£
28,048
92
28,140|Journal
expenses
£
14,025
47
14,072
Website
£
28,048
92
28,140
Journal
expenses
£
198|Annual
conference
£
42,073
139
42,212
2022
Total
activities
£
140,242
462
140,704
Annual
conference
£
595|Project
funding
and
prizes
£
28,048
92
28,140
2021
Total
activities
£
137,966
680
138,646
Project
funding
and
prizes
£
397| |---|---|---|---|---| ## **Finance** Page 24 continued... **THE SOCIETY FOR THE STUDY OF ADDICTION** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **6. SUPPORT COSTS - continued** ## **Finance - continued** |2022
Grants
and
Total
bursaries
Website
activities
£
£
£
Bank charges
397
397
1,984
**Information technology**
Journal
Annual
expenses
conference
£
£
Telephone
38
115
Computer expenses
143
429
181
544
2022
Grants
and
Total
bursaries
Website
activities
£
£
£
Telephone
77
77
384
Computer expenses
286
286
1,430
363
363
1,814
**Governance costs**
Journal
Annual
expenses
conference
£
£
Auditors' remuneration
365
1,095
Auditors' remuneration for non audit
work
-
-
Professional fees
1,301
3,900
1,666
4,995|2021
Total
activities
£
2,346
Project
funding
and
prizes
£
77
286
363
2021
Total
activities
£
709
852
1,561
Project
funding
and
prizes
£
730
-
2,600
3,330| |---|---| Page 25 continued... **THE SOCIETY FOR THE STUDY OF ADDICTION** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **6. SUPPORT COSTS - continued** ## **Governance costs - continued** |Grants
and
bursaries
£
Auditors' remuneration
730
Auditors' remuneration for non audit
work
-
Professional fees
2,600
3,330|Website
£
730
-
2,600
3,330|2022
Total
activities
£
3,650
-
13,001
16,651|2021
Total
activities
£
3,500
200
13,421
17,121| |---|---|---|---| ## **7. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||2022|2021| |---|---|---| ||£|£| |Auditors' remuneration|3,650|3,500| |Auditors' remuneration for non audit work|-|200| ## **8. TRUSTEES' REMUNERATION AND BENEFITS** There was no trustees' remuneration or other benefits for the year ended 31 March 2022 apart from £3,650 (2021: £3,050) paid to Professor M Hickman and £300 (2021: nil) paid to Dr T Freeman for editorial services provided to the society. ## **Trustees' expenses** No expenses were paid to Trustees in the current or previous year. ## **9. STAFF COSTS** Staff costs during the year were as follows: |Direct wages and salaries
Employer's National Insurance
Pension costs
Employment allowance|2022
£
346,568
37,547
34,462
(4,000)
414,577|2021
£
296,700
31,214
29,646

(4,000)
353,560| |---|---|---| The average number of staff during the year was 8 (2021: 8). One employee earned between £70,001-£80,000 per annum in the current year (2021: one employee earned between £70,001-£80,000). Page 26 continued... **THE SOCIETY FOR THE STUDY OF ADDICTION** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **9. STAFF COSTS - continued** ## **Key Management Personnel** Key Management Personnel remuneration for the financial year was £88,280 (2021: £86,532). ## **10. FIXED ASSET INVESTMENTS** |**MARKET VALUE**
At 1 April 2021
Additions
Revaluations
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021|Listed
investments
£
3,177,434
450,000
75,360
3,702,794
3,702,794
3,177,434| |---|---| Listed investments are stated at their mid market value as at the balance sheet date. If the investments had not been revalued, they would have been included on the historical cost basis at 31 March 2022 of £2,986,845 (2021: £2,536,845). There were no investment assets outside the UK. ## **11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade debtors
Prepayments|2022
£
179,297
46,109
225,406|2021
£
-
44,422| |---|---|---| |||44,422| Page 27 continued... **THE SOCIETY FOR THE STUDY OF ADDICTION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Social security and other taxes
Deferred income
Accruals
VAT Liability|2022
£
9,925
188,866
161,795
112,375
472,961|2021
£
8,589
201,840
210,815
121,267
542,511| |---|---|---| The deferred income relates to advance payments from the publishers of the journal. This income is proportioned and deferred until rightfully owned. |Balance as at 31 March 2021
Amount released to incoming resources
Amount deferred in year
Balance as at 31 March 2022|£
201,840
(201,840)
188,866
188,866| |---|---| ## **13. MOVEMENT IN FUNDS** |**Unrestricted funds**
General
**TOTAL FUNDS**|At 1/4/21
£
4,959,511
4,959,511|Net
movement
in funds
£
27,307
27,307|
At

31/3/22
£
4,986,818
4,986,818| |---|---|---|---| Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General
**TOTAL FUNDS**|Incoming
resources
£
1,170,061
1,170,061|Resources
expended
£
(1,218,114)
(1,218,114)|Gains and
losses
£
75,360
75,360|Movement
in funds
£
27,307
27,307| |---|---|---|---|---| ## **Comparatives for movement in funds** |**Unrestricted funds**
General
**TOTAL FUNDS**|At 1/4/20
£
4,311,748
4,311,748|Net
movement
in funds
£
647,763
647,763|
At

31/3/21
£
4,959,511
4,959,511| |---|---|---|---| Page 28 continued... **THE SOCIETY FOR THE STUDY OF ADDICTION** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **13. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General
**TOTAL FUNDS**|Incoming
Movement
resources
£
1,238,428
1,238,428|Resources
expended
£
(1,146,266)
(1,146,266)|Gains and
losses

£
555,601
555,601|in funds
£
647,763
647,763| |---|---|---|---|---| ## **14. EMPLOYEE BENEFIT OBLIGATIONS** The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £34,462 (2021 - £29,646). No contributions were outstanding at the year end (2021 - £nil). ## **15. CONTINGENT LIABILITIES** There were no contingent liabilities as at 31 March 2022 or 31 March 2021. ## **16. CAPITAL COMMITMENTS** The charitable company had no capital commitments as at 31 March 2022 or 31 March 2021. ## **17. RELATED PARTY DISCLOSURES** Other than disclosed in note 8 there were no related party transactions for the year ended 31 March 2022 or 31 March 2021. Page 29