Drugscience Ltd la company Ilmlted by guarantee) Annual report and financial statements For the year ended 30 lune 2022 Registered company number.. 08032149 Registered charity number.. 1150449
DruBscience Ltd Contents Page Reference and administrative details Trustees. report 2-13 Independent examinerfs report 14 Statement of financial activities 15-16 Statement of financial position 17 Notes to the financial statements 18-25
Drugscience Ltd Reference and administrative details For the year ended 30June 2022 Trustees S Macken Prof Ilana Crome- Chair C G Hughes (appointed on 15 August 20221 D E A5hley-Cooper (appointed on 15 August 20221 A D Knight Prof D Nutt J Smith Secretary S P Macken Company registered number 08032149 Charltyreglstered number 1150449 Re8lStered office 130 Wood Street London EC2V 6DL Independent examiner Buzzacott LLP 130 Wood Street London EC2V 6DL
Drugscience Ltd Trusteeg report For the year ended 30 June 2022 The trustees present their annual report together with the financial statements of Drugscience Ltd I'the charity'l for the year ended 30 June 2022. STRucfuRE. GOVERNANCE AND MANAGEMENT Constitution The charity is constituted under a Memorandum of Association dated 16 April 2012 and amended by a Special Resolution dated 17 December 2012. It is a registered charity with its charity number being 1150449. The charity is limited by guarantee and doe5 not have share capital. All trustees are members of the charity and guarantee to contribute £1 in the event of winding up. Appolntment of trustees The trustees have complete control of the charity in relation to the application of funds. Trustees are appointed in accordance with the charity's governing document. All decision-making of Drugscience is made in accordance with the charity's Conflicts of Interest policy. Trustees The trustees who served during the year were.. S Macken Prof Ilana Crome C G Hughes lappointed on 15 August 20221 D E Ashley-cooper (appointed on 15 August 20221 A D Knight Prof D Nutt I Smith OBJECTIVES AND ACTIVITIES Policies and objectives The principal objectives of the charity are= to advance the education of the public in the harms of drug taking to help prevent and mitigate the sufferin8 caused by drug harms and a550ciated behaviour5- to promote the Eood health of the general public by providing advice to the public and practitioners who are impacted by drug taking in anyway,. and to promote research for the benefit of the public, in the subject of drugs and drug taking and into its effects on the public and society in general, whether physical, medical, psychological or social. Public benefit Statement The trustees have given due consideration the Charity Commission published guidance on the public benefit requirements. The charity constitutes a public benefit entity as defined by FRS 102.
Drugscience Ltd Trustee< report (continued) For the year ended 30 lune 2022 ACHIEVEMENTS AND PERFORMANCE The charity has a vital role to play in society, providing the public in the UK and internationally with high quality, scientifically based information on drugs and evidence-based comment and analysis of new research. The charity aims to inform public understanding about drugs and promote effective policies and practice in the UK and at international level. The charity reviews and investigates the scientific evidence relating to dru85, free from political concern5. The charity provides accessible information on drugs to the public and professionals via direct communication, podcasts, educational resources, webinars, events and via its web-based information pages. The charity works in the UK and internationally and addresses issues surrounding drug harms and benefits,. regulation and education., prevention, treatment and recovery. We believe that.. Everyone has the right to be able to access accurate information about the effects, harms and benefits of drugs. All people have the right to receive effettive, evidence-based drug education. All people with drug-related problems have the right to services that will support their recovery. There needs to be an ongoing and open public discussion about drugs and their place within our society. Policy and practice should be based on evidence from research and experience and independent review. All drug users have the right to a life free from discrimination and stigma. Any regulation of druÈ use should aim to prevent and reduce the harmful consequences of drug use. It should be proportionate to the harm5. It is vitally important to extend the evidence base on drugs through research. Public services should aim to prevent and reduce harms to drug users and others. Unnete55ary and overly laboriou5 barriers to research should be eroded to facilitate a higher quality understanding of drug5 regardless of their legal 5tatU5. Trustee meetin The charity trustee meetinEs were held every three months throughout this period. The main issues discussed included-. Governance and organi5ational structure Fundraising Drug Science strategy Updating of trustees Updating on present expert members The importance of tontinuing regular newsletters Reports Research progress General In the last period, the charity has continued to grow in terrns of g8nerated incorne, the staff team, the charity's research outputs, and its contributions to policy making and public communications. Total income received during the financial year has been the highest ever achieved since we were founded over 10 years ago, including a major donation to further the work of the organisation.
Drugscience Ltd Trustee< report (continued) For the year ended 30 lune 2022 Drug Science has incorporated a trading Subsidiary, called Drug Science Tradin8 Ltd. The purpose of the subsidiary is the provision of a consultancy service to commercial stakeholders in the areas of medical cannabis and psychedelic research. The subsidiary is a registered company wholly owned by Drug Science, donating IOOYO of its surplus to the charity. The charity Is now leading four working groups.. the Medical Cannabis Working Group IMCWGI, the Medical Psychedelic5 Working Group IMPWGI the Enhanced Harm Reduction Working Group IEHRWGI and the Education Working Group IEWGI Isee further details belowl. All of this work is made possible through the great contributions made by expert rnember volunteers. We are grateful for the many hour5, member5 have worked on p3rticipating and presenting at the quarterly Drug Science 5ymp05ia, writing public letters, reports and publishing relevant papers. Without this valuable contribution of time, energy and expertise the charity would not have been able to achieve so much. Throughout this period, the Drug Science Scientific Committee continued to meet every three months to discuss possible outputs from the charity and other interrelated issues that are relevant to the charity. General research outputs DSPL journal- change in publishing group has improved turnover rates recently IPublications available.. htt ournals.sa ub.com home Discu55ion were held with publishers on how best to dev8lop the journal, and work towards Impact Factor. Special Issue on Ayahuasca (led by Dr Simon Ruffelll currently in preparation. Crome, l. Nutt, D, Steven5, A. leds.I120221. Drug Science and British Drug Policy. Waterside Press. Ferreira, P.M., Nutt D.120221. Regulating the oxides of nitrogen- popping the myths. DSPL,. 8. Ferreira. P.M.. Winstock,A.R. Schlag, A.K., et al.120221 A comparative study of the harms of nitrous oxide and poppers usin8 the MCDA approach. DSPL.. 8. Policy contributions include response to white paper 'Swift, certain. touÈh.. new consequences for drug possession, www. ov.uk overnment consultations 5wift-certain-tou -new-con5e uence5-for-dru ossession-white- erl, together with large Scale signature collection together with Release, Transform, International Drug Policy Consortium, Centre for Justice Innovation Contribution to TGA rescheduling of MDMA and Psilocybin in Australia. David Nutt and the Drug Science team prepared in-depth report to support Mind medicine Invited conferences include.. European Sceptics (Viennal.. Oxford Literary Festival,. BNA Festival DruÉ Science Symposium (Brightonl,. We our here Festival St Gile5 IDor5etl Medical Cannabis Workin Grou MCWG The Medical Cannabi5 Working Group is a cro55-sertor collaboration that includes scientific expert5, academic5, policy makers and leaders of patient advocacy groups alongside industry partners collectively aiming to improve and accelerate access of medical cannabis in the UK for all patients. Aim To improve and accelerate access of medical cannabis in the UK for all patients. Objectives Develop and deliver scientific research on medical cannabis Ensure provision of education and training for physicians and health care professionals Improve evidence base through Real World Data collection Ensure effective communication between stakeholders, involving patients and addressing patients concerns Address stigma within the medical profession, media and the general pubic Advocate for transparency across industry relationships The Medical Cannabis Working Group is a collaboration that continues to prioritise an approach that includes..
Drugscience Ltd Trustee< report (continued) For the year ended 30 lune 2022 lil Medical education, lill Reasonable access to patients in need and patients seeking medical cannabis, along with liiil The collection of robust real-world data that may inform effectiveness and safety, along with QALY and patient reported outcomes. These approaches are key in the implementation of an effective access programme in the UK that is most likely to have the best public health outcome. It is clear that whi15t there is great progre55 in access to medical cannabis being made worldwide, patient5 in the UK are being prevented from acce55ing potentially beneficial treatment, de5Plte cannabi5 having been legally cla55ified as a rnedicine since November 2018. Since then, only a handful of patients have received a prescription on the NHS, despite lobby and patient groups suggesting the number of patients currently using illicit cannabis for therapeutic purposes in the UK to be in the region of 1.4 million people. We believe that a balance must be struck between the access demands of patients based on unmet need, the risk of a burgeoning illicit market in the context of restricted access, and the collection of data to monitor safety. Medical cannabis is already being made available in significant numbers in Europe and in other countries, whilst patients in the UK are being driven to the illicit cannabis market characterised by irregular products hiEh in THC, or the CBD market currently governed as a novel food by the Food Standards A@encv Research out uts of the MCWG Launch of health economics analysis on medical Cannabis and chronic pain in Feb 2023, together with the Cannabis Industry Council. Estimated completion by end of April 2023 Drug Science will lead the peer reviewed publication. Launch of paediatric epilepsy study using specifically developed app (by AltaFloral to develop our previous work in this area, in March 2023. Sunderland, P, Schlag AK, Nutt, D. Medication sparing after medical cannabis initiation.. A case study of a chronic pain patient in Project Twenty21. DSPL (ln Press) Lyn5key MT, Schlag AK, Athanasiou-Fiagkouli A, Badcock D, Nutt DJ. Characteristics of and three-month health outcomes for people seeking treatment with prescribed cannabi5.' Real World evidence frorn Project Twenty 21. DSPL Iln Press) O'Brien K, Belby I, Frans M, Lynskey M, et al. Preliminary Findings from Project Twenty21 Australia.. an Observational Study of Patients.. Prescribed Medicinal Cannabis for Chronic Pain, Anxiety. PTSD and Multiple Sclerosis. DSPL Iunder Review) Thurgur, H, Schla& AK, et al. Medical cannabis and Long Covid.. Current uses and potential future applications. Exploration of Medicine.. Sl Beyond Weed (Under Reviewl Schla8 AK, Zafar RR, Lynskey MT, Athanasiou-Fra8kouli A, Phillip5 LD and Nutt DJ120221 The value of real world evidence.. The case of medical cannabis. Front. Psychiatry 13.'1027159. htt www.frontiersin.or 10.3389 t.2022.1027159 Zafar R, Sulak D, 8rambila J, Nutt D. Schlag A.K.120221. Raising awareness.. The implementation of medical cannabis and psychedelics used as an adjunct to standard therapy in the treatment of advanced metastatic breast cancer. DSPL., 8. htt ourn315.sa ub.com doi 10.1177 20503245221114323 Bourke S., Schlag, A.K., O'sullivan, S., Nutt, D., Finn, D. Cannabinoids and the endocannabinoid system in fibromyalgia.. A review of preclinical and clinical research. Pharmacology and Therapeutics. DOI.. 10.1016 harmthera.2022.108216 Schlag, A.K. Lynskey, M., Fayez, A. et al. Characteristics of people seeking prescribed cannabinoids for the treatment of chronic pain.. Evidence frtsm Project Twenty 21. Frontiers.. Medical Cannabis and Pain. doi.or 10.3389 ain.2022.891498 Invited conferences include.. Medicinal Cannabis Summit (Berlinl.. CT Cann ICopenhagenl- CT Cann Trials ILondonl- Cannabis Europa (London) Various invited webinars, e.g., Romanian Parliament; Constellations, Analytical Cannabis
Drugscience Ltd Trustees, report (continued) For the year ended 30 lune 2022 Pro ect Twent 21 Pro ect Twent 21 is Europe's largest real-world data registry to document efficacy. safety, quality-adjusted life year, and patient reported outcomes in prescribed medical cannabis in the UK. Through Project Twenty21, eligible patients can access affordable medical cannabis treatment, monitored by Drug Science. The project aims to create the largest body of evidence for the effectiveness and tolerability of medical cannabis. The findings of Project Twenty21 will provide evidence for NHS funding if the benefits of treatment with medicinal cannabis is proven to outweigh the potential risks. At the start of the year, we officially renamed the project 'T21" to coincide with a new phase of the study, as we welcomed new partners and announced a new pricing discount model whereby patients can obtain a minimum of 5Yo off products listed on our formulary. The initial partner contracts for T21 all expired at the end of last year lacross November and December 20221. These contracts covered the initial 3 year phase of the project, and contributed £1.6m to delivery during this period. The project has so far made a si8nificant impact on the medical cannabis sector, putting Drug Science at the very forefront of research and health outcome data in the UK. With wide interest from all stakeholder5 to continue the project, Drug Science ha5 been able to successfully negotiate new contracts with all but one of the legacy partners (Khiron, Leva and JMCC Gropupl, as well as agree three new partnerships with Licensed producers IEthypharm, Spectrum Canopy and Grow Pharmal. A5 the project has become firmly established, the'start up. costs associated with the first phase are no longer a requirement, and therefore the amount required from each partner has been reduced. The Australian arm of T21 (led by Releaf Group) continues for another year and is on track to complete by December 2023. Initial data analysis from Australia remains consistent from the considerable data now collected in the UK. further supporting the effectiveness and tolerability if medical cannabis generally. Lon The Long COVID clinical trial was sponsored by Bod Healthcare with Drug Science acting as an investigator site who contracted Dr Elizabeth Iveson as Principal Investigator IPII. The LonE COVID clinical trial was granted approval from the NHS Research Ethics Committee INHS RECI and Medicines and Healthcare products Regulatory agency IMHRAI in January 2022. The first participant was enrolled in April 2022 and the end of study was declared on 6" January 2023 INHS REC and MHRA notified on 17, January 20231. A total of 12 participants were enrolled. The MHRA conducted a Good Clinical Practice IGCPI inspection of the trial on the week commencing 3 October 2022. There were 2 Critical finding5 (along with Several major and minor finding51 identified during the in5PeCtion relating to Clinical Trial Authorisation and Investigational Medicinal Product IIMPI. Critically, the IMP supply issues couldn't be resolved, and the clinical trial wa5 terminated early. The data from the trial is currently being analysed by the study team at Orug Science and will be published in a peer reviewed journal. The clinical trial was a valuable learning experience for Drug Science and highlighted the need for a new approach if Drug Science are involved in future clinical trials. Critically, new strategies would involve input from clinical trial and regulatory experts. Medical Ps thedelics Workin Grou The Medical Psychedelics Working Group is a cross-sector collaboration that includes scientific experts, academics, policymakers, leaders of patient advocacy 8roups and industry representatives, collectively aiming to create a rational and enlightened approach to psychedelic research and clinical treatment. To create a rational and enlightened approach to psychedelic research and clinical treatment.
Drugscience Ltd Trustee< report (continued) For the year ended 30 lune 2022 Aim To create a rational and enlightened approach to psychedelic research and clinical treatment Ob'ective5 Develop and deliver scientific research on psychedelic drugs Provide evidence that supports the removal of psychedelic drugs from Schedule I restrictions Work with regulatory bodies to ensure that relevant legislation is enacted to facilitate medical use of psychedelic drugs Promote destigmatisation and improved understandin8 of psychedelic drug5 Provide evidence-based educational resources on psychedelic medicine for doctors, pharmacists, healthcare professionals and the general public We believe that the future of psychedelic medicine is extremely promising, and there is potential for the widespread application of psychedelic dru8S Wlthin public health mode15. After witnessing the le8ali5ation of medical cannabi5 in 2018, we recognised a need to work collaboratively and proactively with interdisciplinary partners to ensure that psychedelic medicines are developed for UK. EU and worldwide healthcare models. Current regulations have created seriou5 and considerable barriers to legitirnate research asSOClated with schedule I re8ulation5. While existing legislation doe5 not preclude scientific research with these drugs, it does make studies considerably more difficult, time-consuming and costly. With further research and a greater understanding amongst policy maker5, acadernics, the media and the general public, there is a realistic prospect of regulatory approval for psychedelic medicines. We aim to ensure that medical psychedelic5 can be used safely in an ethical and economically sustainable manner and demonstrate a potential for lasting therapeutic benefit. In 2020, we decided to establish the Medic31 Psychedelic5 Working Group to break down the barrier5 of 50 years of rnedical censorship by creating a rational and enlightened approach to psychedelic research and clinical treatment. The group explores innovation within the psychedelic space with a specific focus on how psychedelics can be integrated into primary and secondary healthcare. Our belief is that evidence-based science, data sharing, and strong partnerships are essential for the success of psychedelic medicines. Research out uts of the MPWG Schlag, A.K. Aday, J. Salam, l.. Neill, J., Nutt, D.120221. Adverse effects of psychedelics.. From anecdotes and misinformation to systematic seienee. J Psythopharmacologv. htt ournals.sa ub.com doi 10.1177 02698811211069100 Neill, J. Schlag, A.K. et al. Risks and side effects associated with the use of psychedelics. In D. Nutt and Castle D. leds.) 'Psychedelics as Psychiatric Medicines" lin Pressl Mccrone, P. Schlag A.K., Fisher, H., Neill. J., Nutt, D. A health economics analysis to investigate the cost effectiveness of psychedelics. Lancet Psychiatry. (under Review) SpriE8s, M, Murphy-Beiner, A, Murphy, R, Thurgur, H, Schlag, AK. ARC.. A framework for access, reciprocity and conduct in psychedelic therapie5. Humanistic P5ychedelic5 Iunder Review) Schlag, AK, Lynskey, M, Thurgur, H, Zafar, R, Nutt, D. et al. Psychedelic medicines.. Real World Evidence, naturalisti studies and RCTS. Working paper Schlag, AK, Thurgur, H, Ruffell, S et al. Reciprocity and sustainability in psychedelic medicines. Working paper Invited conferences include.. ICPR (Amsterdaml,. MAPS IDenverl- Insight (Berlinl.. Psych Symposium (London),. Breaking Convention (London),. Breaking Convention (Exeterl,. Exeter Philosophy of Psychedelics Research Group.
Drugscience Ltd Trustee< report (continued) For the year ended 30 lune 2022 Drug Science remain active lobbyists for parliamentary change both within the UK and globally. Key event5 the past year include providing evidence to the Home Affairs Committee's inquiry into the UK'S drugs policy in May 2022 for psilocybin rescheduling and the longstanding contribution of Prof David Nutt and Drug Science to the campaign for the Australian government ITGAI approval of MDMA and psilocybin for treatment-resistant mental health conditions. Following the Australian approval in February 2023, and with further discussion with the Australian charity who drove the campaign that resulted in the policy change (Mind Med Australia), Drug Science are proposing to deliver a patient registry to collect health outcome data as patients are prescribed both MDMA and Psilocybin in clinical settings. The registry will be based on the UK medical cannabis registry IT211. and will be delivered in partnership with an Australian Universitv. The Psychedelic Access and Research European Alliance IPAREAI was officially launched in lune 2022. This 15 a new initiative spearheaded by Drug Science to act as a stand-alone, membership-led organization focusinE exclusively on the EU lobby and streamlining EU èdvocacy activities into psychedelic science. PAREA has been very busy since their launch including their first policy meeting on 6, December 2022 in the European Parliament, meeting with European Medicines Agency IEMAI Chief Medical Officer ICMOI and wide-reathing press articles. We continue to collaborate with the Canadian charity TheraPsil who support Canadians in medical need access legal. psilocybin-assisted psychotherèpy and psilocybin. TheraPsil's Project Solace aims to streamline access via the Special Access Programme for patients and providers and gather data on treatment outcomes. We hope to Use the findings of this research to lobby UK regulators to make the same decision. Enhanced Harm Reduction Workin Grou The Enhanced Harm Reduction Workin8 Group is a con50rtium of scientific expert5, acadernics, policy maker5, treatrnent providers and advocacy groups, workin8 collaboratively to reduce the harm5 of intravenous drug use. Aim To develop the evidence base for reducing dru8-related harm by piloting a Supervised Injection Facility1SIFI in the UK Objectives Work with partners to establish pilot SIFS for evaluation. Inform legal reform to enable the development of the evidence base on SIFS. Collate and communicate the evidence-base for SIFS in reducing drug-related harm. Provide a forum for sharing information on safe. ethical and effective provision of enhanced harm reduction services. We believe that there is good real-world evidence for the p051tive effect5 of Supervised Injection Facilities ISIFS) across the world. SIFS are known by many names includinÉ Overdose Prevention Centres, and Dru@ Consumption Rooms. There are subtle nuance5 between each, however, their function is to provide safe spaces for people to consume controlled drugs under the supervision of people who can save lives if overdoses occur. Our aim is to develop the evidence base for reducing drug-related harms by piloting a SIF in the UK. This collaborative initiative will evaluate whether e5tabli5hing a SIF would prove to be c05t-effective, reduce crime, improve public health, reduce drug litter, and increase engagement in treatment service5. The EHR WG encourages the use of a participatory development approach in the design and development of harm reduction seivices. Ensuring co-production in the design, development and implernentation is key to ensuring that they work, are cornmunity-frieridly, and hold the confidente of local drug-u5ing communities. This help5 to ensure high quality, non- judgemental service provision, acceptability and reduced stigma and the discrimination experienced by people who use drug5.
Drugscience Ltd Trustees, report (continued) For the year ended 30 lune 2022 People who use drugs are sadly familiar with experiencing discrimination in health and social care setting5. As such, those developing new services need to actively demonstrate their commitment to non-judgemental, rights-based approach and participatory development is a good starting point. When a community owns and supports harm reduction, this ensures effective service user recruitment, quality management and advocacy. The Enhanced Harm Reduction Working Group IEHRWGI has brought on a Vice-chair IDr Roz Gittensl to assist the Chair IProf Alex Stevensl. Roz Gittens also sits on the Drug Science Scientific Committee, and will be assisting Alex Stevens and James Bunn in the operational management of this group. The EHRWG remit ha5 expanded to cover other areas of enhanced harm reduction that are in need of further research to demonstrate their efficacy. These two new areas of research are.. Drug Chetking- Colloquially known as 'pill testing,, this practice has been seen at festivals but also in inner cities. This Service 15 a way to reduce the harm from drug consumption by allowing user5 to find out th8 content and purity of 5ubstance5 that they intend to consume. This enables users to make Safer choice5'. to avoid more dangerous 5ubstance5, to use smaller quantities, and to avoid dangerous combinations. High-Tolerance Housing IHTHI- HTH models allow people who use drugs to consume their drugs within their home. This would usually breach a tenancy agreement. however, HTH models exisit in places such as Canada to prevent people from being thrown out on the street following the consumption of a substante within the ctsnfines of their own home. Supervised Injection Facilities ISIFsl- Drug Science will continue to advocate for SIFS in the UK and still intend5 on leading a research study into their efficacy if one is able to be opened without breaching the law. The EHRWG has not only expanded its remit, but also its membership. with new treatment providers joining the working group in last year. These new members include.. Ana Liffey Barod Merchants Quay Westminster Drugs Project Education Worki Grou Our Education Working Group was setup last August and is meeting regularly and increasing in engagement and activitv. Aim We disseminate evidence-based drug education to students, medical professionals, academics, politicians and industry. We strive for a world where everyone is properly informed and armed with the tools tts share their knowledge. The Working Group effectively consolidates the educational outputs of Drug Science, which chiefly consist5 of the podcast, educational module5, books, event5, student, univer51ty and School engagement. Objectives Work with partner5 to develop 5trate8ies to enga8e with educational institutions and partner with relevant network treatment providers and organisations Grow awareness of Drug Science and build reputation amongst educational institutions Combat stigma in relation to drugs education within the UK educational system Current artivitie5 include the development of a CPD module in alternative medicines with the British Association of Psychopharmacology, development of a new Nicotine and vaping under 185 module and the continued expansion of the Dru8 Science Student Society Network ISSNI. We are currently collaborating with Prof Adam Winstock on the upcoming Students Drug Survey, and in discussions about hosting an education conference day to be aimed at teachers and treatment providers.Psilocybin for depression.. comparing academic vs industry-led clinical trials
Drugscience Ltd Trustees, report (continued) For the year ended 30 lune 2022 Dru Science Polic and Law journal The Drug Science Journal continued to develop its scope of articles and remains open access to allow wide dissemination of peer reviewed articles. Recent artitles focus on cannabis, psychedelics, the opioid epidemic in the US and wider drug harms nd drug policies (please see.. https'.l/journals.sagepub.comlhome/d5pI. Recent publications include-. The United Kingdom's Psychoactive Substances Act 2016. Where are we now? Examining the gender dimension in the non-medical use of over the counter and prescription only medication Psychedelic use predicts objective knowledee about climate change via increases in nature relatedness A comparative study of the harms of nitrous oxide and poppers using the MCDA approach Raising awareness.. The implementation of medical cannabi5 and psychedelics used as an adjunct to standard therapy in the treatment of advanced metastatic breast cancer An Interpretative Phenomenological Analysis of the use of psilocybin by veterans with symptoms of traurra How to read a paper on the short-term impairing effects of cannabis- A selective and critical review of the literature Comparative harms assessments for cannabis, alcohol, and tobacco.. Risk for psychosis, cognitive impairment, and traffic accident state naloxone co-prescribing laws show mixed effects on overdose mortality rates Eating ourselves to death-. How food is a drug and what food abuse costs The Mi5U5e of Drugs Regulations 2001.. A case study in poor legislative drafting Psychedelics as potential catalyst5 of Scientific creativity and insight The Cathinone Hydra: Increased Cathinone and caffeine adulteration in the English MDMA market after Brexit and COVID- 19 lockdowns Farmability and pharmability.. Transforming the drug market to a health-and human rights-centred approach from self- cultivation to safe supply of controlled substances Regulating the oxides of nitrogen- popping the myths Corrigendum for The risk of being culpable for or involved in a road crash after using cannabis.. A 5y5tematic review and meta-analyse5 Can psilocybin be safely administered under medical supervision? A systematic review of adverse event reporting in The Dru Science Student Societ Network The Drug Science Student Society Network is a student-led group that aims to provide evidence-based education on all psychoactive substances. The group was founded in March 2020, since that time, Drug Science have established student groups at some tsf the UK'S leading universities. The network was relaunched as the SSN in summer 2022. It currently consists of over 20 student societies, with the majoritv based in the UK. and a social platform (Discord) with around 150 student members. Since the start of the academic year in September 2022, SSN events have been hosted at York, Cambridge, Barts ènd Leeds universities. with events planned over the next three months in Manchester, Belfast, Exeter and Bristol. This year's virtual Student Psychedelic Conference will take place in April 2023. IN line with previous years, this will be co-curated and h05ted by the students themselve5 who will organi5e the panels, speakers and agendas over the two day5. Dru Science Communi The Drug Science community has continued to grow over the last year. For the past few months, we have been working with a fundraising consultant to be more strategic about how we use our audience data and comms channels to increase donations. We have refreshed our Community webpage, online donation provider Ioonorboxl and membership tiers to be clearer and more compelling. Drug Science ran its'sentia bottle giveaway, campaign to coincide with the Christmas season and Dry January- with the main goal of attracting new members to the Drug Science community. This ran from 5th Oecember to 31st January and resulted in almost 150 new monthly donors giving £5 or more. io
Drugscience Ltd Trustees, report (continued) For the year ended 30 lune 2022 Events Our events offering has ramped up a gear in recent months in line with our Community push outlined above. with a particular emphasis on engaging with students through our Student Society Network. Using university venues enables us to keep costs down and align5 perfectly with the ethos of Drug Science a5 3 piovider of science and evidence-based drug education. Our Street Drugs Discussion online webinar series continues to see consistently high numbers of registrations, with our upcoming March event on Benzodiazepines reaching over 550 registrations and c.250 people expected to watch live. Recent in-person events have included.. 50 Years of Failed Drug Policy Ibook launchl- December 2022 House of Lords Evening Reception (Community eventl- December 2022 The Science tsf Psychedelics (University of Yorkl- October 2022 The Truth About Drug Science IUniver51ty of Cambridgel- january 2023 Dru85, the Media & Law (Barts Medical Schooll- Feb 2023 Podcast In 2022, Drug Science released Season 4 of the Drug Science podcast. This was produced completely'in house, and was downloaded 360,000 times in 2022. Over the winter break, the host of the podcast Iprof David Nuttl was unable to record regular episodes, so we took a temporary break from recording the show. In early 2023, we started recording brand new episodes and released the first episode of Season 4 on March 1, 2023, releasing new episodes fortni@htly for the next 12 months. To ensure that we can be flexible with our episode recording schedule, we have enlisted two'co-hosts, of the podcast- Dr Hannah Thurgur (Drug Science staff) and Professor Jo Neill Ichair of the Medical Psychedelics Working Group). FINANCIAL REVIEW Result for the year The results for the year are shown in the statement of the financial aetivities on page 13. During the year, the tharity reteived donations and other income totallin8 of £998,76612021= £621,633). The cost of rai5in8 fund5 for the period lincluding allocated support costs) totalled £135,59812021= £102,909). Expenditure on charitable activities of £556,37212021.. £449,423) brought total expenditure for the year to £691,97012021'. £552,332). The result for the year ended 30 June 2022 was a surplus of £306,796 (surplus 2021.. £69,301). The balance of the unrestricted re5etve5 a5 at 30 June 2022 was £337,67512021.. £217,831) and restricted reserves £264,265 12021.. £77,313). Reserves policy The level of reserves is monitored and reviewed by the trustees at least annually. The trustees believe that the charity should target to hold unrestricted financial reserves equivalent to a minimum of 2 year's core costs. This is estimated to be £160,000. As 3t 30 June 2022, the charity'5 unrestricted reserves wa5 £337,67512021= £217,831) of which an arnount of £180,000 has been designated to be Spent on the PET-MRI Synaptogenesis study with DMT within the department of Brain Sciences at Imperial College London. The free reserves was £157, 67512021.. £217,831). This is in line with the estimate stated above. The trustees believe that current level of reserves is sufficient to cover the core costs of the organisation. ensuring financial stability in the event of unplanned adverse circumstances. li
Drugscience Ltd Trustees, report {continued) For the year ended 30 June 2022 Going concern After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this rea50n, they continue to adopt the goin8 concern basis in preparing the financial statements. Plans for future years The priority for the charity over the last four years has been to secure financial stability. This airn has now been largely achieved. with unrestricted reserves now exceeding the general reserve policy, ensuring that the organisation is in a strong position. The aim for the foreseeable future is to maintain financial sustainability, ensurine that its income is sufficient to allow the organisation to continue to meet its charitable objectives. 12
Drugscience Ltd Trustees, report {continued) For the year ended 30 June 2022 Trustees, responsibilities statement The trustees Iwho are also directors of the charity for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial 5tatement5 unle55 they are satisfied that they give a true and fair view of the State of affairs of the charity and income and expenditure of the charity foi the year. In preparing these financial Statements, the trustees are required to.. select suitable accounting policies and then apply them consistently.. observe the methods and principles in Accounting and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with 'the Financial ReportinE Standard applicable to the UK and Republic of Ireland. I'FRS 102,1,. makejudgements and accounting e5timate5 that are reasonable and prudent., state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departure5 di%t105ed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is appropriate to presume that the trust will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They re also responsible for Safeguarding the asset5 of the the charity and henee for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. This report was approved by the trustees and signed on their behalf bv.. Prof Ilana Crome Chair Date.. 2510412023 13
Drugscience Ltd Buzzacott Independent examinerfs report tothe trustees of Drugscience Ltd For the year ended 30 June 2022 Independent examiner's report to the trusteesof Dru8science Ltd I'the chariv) I report to the trustees on my examination of the financial statements of the charity for the year ended 30June 2022. Responsibilities of basis of reports As the trustees of the charity land also its directors for the purposes of company lawl you are responsible for the preparation of the financial 5tatement5 in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having sat15fied myself that thefinancial statement5 of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed th8 directions given by the Charity Cornmi55ion under section 14515llbl of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no rnatters have come to myattention in connection with my examination giving me cause to believe.. accounting record5 were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the financial statements do not accord with those record5,' or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act otherthan any requirement that the financial statements give a 'true and fair view, which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the for "Accounting and Reporting by Charities-. the Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151." I h3ve no concerns and have come acr055 no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Gumayel Miah, ACA Buzzacott LLP Chartered Accountants 130 Wood Street London EC2V 6DL Date.. 27 April 2023 14
Drugscience Ltd Statement of financial activities For the year ended 30 June 2022 2022 Unrestrlcted Restrlcted Total funds funds funds Note 2022 2022 2022 Income from.. Donations & legacies Charitable activities 416,695 9.691 426,386 572,380 989,075 9.691 998,766 Total income 572,380 Expendlture on: Raisingfunds Charitable activities 48,204 258,338 306,542 87,394 298,034 385.428 135.598 556,372 Total expenditure 691.970 Net incomellexpenditurel and net movement in funds 119,844 186,952 306,796 Reconciliation of funds: Total funds at 30 June 2021 217,831 77,313 295,144 Total funds at 30June 2022 14 337,675 264.265 601.940 15
Drugscience Ltd Statement of financial activities Foi the year ended 30 June 2021 2021 Unrestricted Restricted Total funds funds funds Note 2021 2021 2021 Income from.. Donations & legacies Charitable activities 283,109 21,440 304,549 317,084 600,193 21,440 621,633 Total income 317,084 Expenditure on.. Rai5in£ fund5 Charitable activities 33,114 179,962 69,795 269,461 102,909 449.423 Total expenditure 213,076 339,256 552,332 Net incomellexpenditurel and net movement in funds 91,473 122,1721 69,301 Reconciliation of funds.. Total funds at 30June 2020 126,358 99,485 225,843 Total funds at 30 June 2021 14 217,831 77,313 295,144 The Statement of financial activities includes all gains and losses recognised in the year. All of the charity's activities derived from continuing operations during the above two financial periods. The note5 on pages 18 to 25 form part of these financial statements. 16
Drugsclence Ltd- Registered company number: 08032149 Statement of financial position For the year ended 30 June 2022 2022 2021 Note Investments li Current assets Debtors Cash at bank and in hand 12 176,380 681.457 857.837 104.181 341,259 445.440 Creditors: Amounts falling due within one year 13 12SS.8981 1150,2961 Net current a55ets 601,939 295,144 Total assets less turrent liabilities 601,940 295,144 Total net assets 601,940 295,144 Charlty funds 14 Unrestricted funds= General fund Designated funds 157.675 180,000 217,831 337.675 264,265 601,940 217,831 77,313 295,144 Restricted funds Total funds 15 The trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provision5 of section 477 of the Companies Act 20061.the ACV'I and mernber5 have not required the charity to obtain an audit for the year in question in accordance with section 476 of the Act. The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the charitable company a5 at 30June 2022 and of its income and expenditure for the year in accordance with the requirements of 5ectiOn5 394 and 395 of the Act and which otherwise cornply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charity. The financial statements have been prepared in accordance with the special provisions applicable to small companies within Part 15 of the Companies Act 2006 and in accordance with FRS 102. The financial statements were approved by the trustees on 2510412023 and signed on their behalf by.. Prof Ilana Crome Chalr The notes on pages 18 to 25 form part of these financial statements. 17
Drugscience Ltd Notes to the financial statements For the year ended 30 June 2022 General information Drugscience Ltd I'the charity'l is a private company limited by guarantee and is incorporated in England and Wales. The members of the charity are the tru5tee5 named on page l. In the event of the charity being wound up, the liability in respett of the guarantee 15 limited to £1 per rnember of the charity. It5 registered office is 130 Wood Street, London, England, EC2V 6DL. The company registration number is 08032149 and the charity number 15 1150449. Accountlng Pollcles Basis of preparation of financial statement5 The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 (Charities SORP IFRS 1021" The financial reporting standard applicable in the UK and Republic of Ireland I'FRS, 1021, and the Charitie5 Act 2011. The charity continues a public benefit entity as defined by FRS 102. The financial statements are presented in During the year ended 30 June 2022, the charity invested in a wholly owned trading subsidiary, Drugscience Trading Ltd and further details are provided at note 11. The result5 of the 5ub5idiary have not been consolidated in these financial statements as they have not been material to the activities of the parent charity. ssessment of going Conrn The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts. The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. 2.3 Cash flow statement The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to produce such a 5tatemeNt under AccouNtin8 and Reporting by charities Statement of Recommended Practice Icharities SORP IFRS 10211. Fund accountlng The general fund is an unrestricted fund which is available for use at the discretion of the trustees in fvrtherance of the general objectives of the charity which has not been designated for other purposes. The desiEnated fund of £180,(XJO is an unrestricted fund which is set aside to be spent on the PET-MRI Synaptogenesi5 Study with DMT within the department of Brain Science at Imperial College London. The restricted fund relates to grants used to cover associated projects costs as specified by the grant provider. 18
Drugscience Ltd Notes to the financial statements (continued) For the year ended 30 lune 2022 Income Income is recognised in the period in which the charity is entitled to receipt, the amount can be measured ieliably and it Is probable that income will be received. Where incorne relates to future periods, this income will be deferred. Grants and donations received for the general purposes of the charitable company are included as unrestricted funds- grants and donations for activities restricted by the wishes of the donor are taken to restricted funds. Expendlture Liabilities are recogni5ed a5 expenditure a5 soon a5 there is a legal or con5tructwe obligation committing the charity to make a payment to a third party or it is probable that a transfer of economic benefit5 will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is stated exclusive of VAT. Expenditure is included in the accounts on an accruals basis and includes attributable VAT, which cannot be recovered. Expenditure is allocated to the particular activity on a direct basis or by allocation based on the level of direct expenditure relating to that activitv. Expenditure comprises the following.. . The costs of charitable activities comprise expenditure related to the charity's primary charitable purposes. Such costs include.. General overhead costs Related support costs b. The cost of raising funds comprises expenditure related to the charity, expenses in relation to raising funds for the charity. Such costs include.. Direct costs Related support costs c. Support costs are the costs associated with the governance arrangements of the charity and the general running of the charity. Included within this category are costs associated with the strategic management of the charity's activities as opposed to day-to-day management. Support Costs are allocated on the basis of time spent of these activitie5. Dèbtors Trade and other debtors are recognised at the settlement amount after any trade discount offered and net of any provision. Prepayments are valued at the net amount prepaid. Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Liabilities and provisions Liabilities are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payment5 for the goods or services it must provide. 19
Drugscience Ltd Notes to the financial statements (continued) For the year ended 30 June 2022 Donatlons & legacles 2022 Unrestrictèd Rèstritted Total 2022 2022 2022 Donations 59,336 59,336 Educational grants 357.359 572.380 929,739 416.695 572,380 989,075 2021 Unrestricted Restricted Total 2021 2021 2021 Donations 26,669 26,669 Educational grants 256,440 283,109 317,084 317,084 573,254 600,193 Dèfèrred incomèanalysis Unrestricted Restrlcted Total funds funds funds Balance as at 01 july 2021 Intome deferred in the current year 38.333 38.333 32,791 97,721 130,512 Amount released from previous year Balance a5 at 30 June 2022 138,3331 97,721 138,3331 130,512 32,791 Note.. Donations deferred during the year is related to educational grants received in the year for future periods. 20
Drugscience Ltd Notes to the financial statements (continued) For the year ended 30 lune 2022 Income from charitable artivities 2022 Unrestricted 2022 Restricted 2022 Total 2022 Book Royalties 5.360 5.360 Events 4.331 4.331 Non-profit income 9.691 9.691 2021 Unrestricted 2021 Restricted 2021 Total 2021 Book Royalties 5,800 5,800 Events 4,928 4,928 Non-profit income 10,712 10,712 21,440 21,440 Ralslng funds 2022 Unrestrlcted Restr5cted Total 2022 2022 2022 Allocated 5UPPOrt costs (note 71 Marketing PR/Public income 43.694 252 52.593 31,863 96.287 32,115 4,258 2,938 7,196 48,204 87.394 135,598 2021 Unrestricted Restricted Total 2021 2021 2021 Allocated support costs (note 71 Marketing PR/Public income 29,619 1,168 47,552 17,368 77,171 18,536 2,327 4,875 7,202 33,114 69,795 102,909 21
Drugscience Ltd Notes to the financial statements (continued) For the year ended 30 June 2022 Expendlture on charltable actlvltles 2022 Unrestricted Restricted Totsl 2022 2022 2022 Allocated support costs (note 71 258.338 298,034 556,372 258.338 298,034 556,372 2021 Unrestricted 2021 Restricted 2021 Total 2021 Allocated support costs (note 71 179,962 269.461 449,423 179,962 269.461 449,423 Support costs 2022 Raising fund5 (note 51 Charitable activities Total fund5 Untsstncted Aunds Rtstrirted fvnds (notè 61 Staff costs 63.919 362,201 426,120 195.786 230,334 Transport costs 970 5,500 6A170 3,396 3,074 Governance costs Inote 101 other support costs 10,741 10,741 10.741 31,398 177,930 209,328 84.469 124,859 Total 96.287 556,372 652,659 294.392 358,267 2021 Raising funds (note 51 Charitable Total funds Unrestricted funds Restrirted funds Inote 61 Staff costs 53,332 302,212 355.544 148,516 207,028 Transport costs 31 178 209 15 Governance c05tS Inote 101 Other support costs 12,120 12,120 12,120 23,808 134,913 158,721 48,927 109,794 Total 77,171 449,423 526,594 209,578 317,016 8. Trustees, remunerat5on No trustees received any emoluments or rmbUrseMent of outof pocket expenses for their services as trustees during the year12021.' none). 22
Drugscience Ltd Notes to the financial statements (continued) For the year ended 30 lune 2022 Staff costs 2022 2021 Wages and salaries Social security cost5 Other pension costs Freelance staff 324,819 23,898 6,653 70,750 426,120 244,940 23,513 4,976 82,115 355,544 The average monthly number of employees during the year was 912021.. 51. Staff receiving emoluments in excess of £60,000, excludin8 employer pension contributions, during the year were as follows: 2022 No. 2021 No. £60,WI-£70,000 10. Governance costs 2022 2021 Accountancy fee Independent examination 8.890 1,851 10,741 10,270 1,850 12,120 11. Flxed asset Investments Investments In subsidiary Companies At lJuly2021 Addition during the year At 30 June 2022 Subsidiary undertakin8 The following was a subsidiary undertaking of the charity.. Name Countryof incorporation England and Wales Clas5 of shares Holding Orugscience Trading Ltd Ordinarv loo% 23
Drugscience Ltd Notes to the financial statements (continued) For the year ended 30 lune 2022 12. Debtors 2022 2021 Trade debtors Other debtor5 176,380 103.973 208 104,181 176,380 13. Credltors: amounts falllng due wlth5n one year Total 2022 Total 2021 Trade creditors Arnount owed to group undertakin8 (note 161 Other creditor5 Accruals Deferred income Other taxation 34,478 65,081 2,837 5,017 130,512 17,973 255,898 28,186 38,353 5,017 38,333 40,407 150,296 14. Analysis of net assets between funds 2022 Restricted funds Unrèstrirted funds Total funds Investments Current assets 361,985 197,7211 264,265 495,852 1158,1771 337,675 857,837 1255.8981 601,940 2021 Re5tiicted fund5 Unrestricted funds Total fund5 Current assets 115,646 138,3331 77,313 329,794 1111,9631 217,831 445,440 1150,2961 295,144 24
Drugscience Ltd Notes to the financial statements (continued) For the year ended 30 June 2022 15. Restrirted funds analysis As at l July 2021 Income Expendlture Transfers Asat30 June 2022 Twenty21 lal PAREA Ibl Long Covid Icl 77,313 501,667 25,713 45,000 1314,9601 125,7131 144,7551 264,020 245 Total restrirted 77,313 572,380 1385,4281 264,265 Asat lJuly 2020 A5at30 June 2021 Income Expenditure Transfers Twenty21 lal 99,485 317,084 1339,2501 77.313 Total restricted 99,485 317,084 1339,2501 77.313 al The Twenty21 fund represents the income which was used to create the UK'S largest body of evidence for the effectiveness and tolerability of medical cannabis. The charity hope that the findings of Project Twenty21 will provide evidence for NHS funding where the benefit5 of treatment with medicinal cannabis is proven to outweigh the potential risks. bl PAREA fund represents the income which was used to raise awareness, provide evidence-ba5ed policv recommendations and accelerate scientific and policy response, leading to the adoption of a holistic approach to psychedelic novel treatments in Europe. Long Covid represent5 the income which was used to test high cannabidiol ICBDI coNtainin8 medical cannabis oil to see if it can improve the symptoms of Long COVID. 16. Related party transactions During the year ended 30 June 2022, the charity provided a loan of £65,08112021= Nil) to Drugscience Trading Ltd, a wholly owned subsidiary. At 30 June 2022, the amount due to this company was £65.08112021.. Nill. This loan is interest free and repayable on demand. There were no other related party transactions in the period of report12021- none). 25