Drugscience Ltd la company Ilmlted byguaranteel Annual repofi and financlal statements For the year ended 30 June 2023 Re8lStered companynumber.. 08032149 Reglstered chahty nvmber.. 1150449 Drugsclence Ltd Contents Page Referente and a6ministratniedetarls Trustees, report Independènt eXamine￿S report 14 Statemènt of financial actiwties 15-16 Statement of financial position 17 Note5 to the financial statements 18-25 Dr scl nce Reference and admlnlstratlve detslls For the yearendèd 30June 2023 Trustee5 S Macken Prol Ilana Crome- Chalr CG Hughes lappointed on 23 February 20221 D E Ashley-cooper (appointed on 23 February 20221 A O Knight Prof D Nutt J Smith Secretèry S P Macken Company regls¢ered number 08032149 Charltyreglstered number 1150449 Regjstered office Camburgh House 27 New Oover Road Canterbtsry Kent United Kingdom CTI 3DN Independent examlner Bur8ess Hod850n Cambur8h House 27 New Dover Road Canterbury Kent United ftn8dom 13DN Dru sclen¢ ttd Trustees, report Forthe yearended 30June 2023 The trustees present their annual repoit tO8ether with the financial statements of Dru8science Ltd I'the charity'l for the year ended 30June 2023. STRUCTURE. GOVERNANCE AND MANAGEMENT Constltutio The charity Is constituted under a Memorandum of Assoclation dated 16 April 2012 and amended by a Spedal Re501utlon dated 17 December 2012. It Ss a re8lStered charity with its charlty number belng 1150449. The charity is limited by 8uarantee and does not have share capltal. All tlustees are members of the charlty and guarantee to ontrlbute £1 In the event of winding up. Apporntment of trustees The trustees have complete control of the charity in relation to the application of funds. fTUStees are apwnted 7n accordance with the charltls governlng document. All declslon-maklng of Orugscience is made In accordance wlth the chariws Conflirts of Interest pollcy. Trustees The trustees who served during thèyearwere.. S Macken Prof Ilana Crome C G Hughe5 lappointed on 23 February 20221 D E Ashley-cooper lappoSnted on 23 February 20221 A D Knight Prof D Nutt I Smlth OBJECTIVESANDACTivmES Pollcles and objectlve5 The princlpal objedivès of the tharity arf. to advance the educatlon of the publlt in the harms of drug taking to help prevent and mltigate the sufferlng ¢èusèd by drug harms and associated behaviours,. to promote the good health of the 8eneral publit by provlding advice to the publicand practitloners who are impacted by drus takln8 in anyway.. and to promote rèsearch for the beneflt ol the pvbllc, In the sublèct of drugs and drug takin8 and into its effects on the public and society in general. whether physical, medlcal, psycholo&'£al or socSal. Publlc benefit statement The trustees have glven due consideratlon the Charity Commisslon publlshed 8uldance on the publlc beneflt requlrements. The charity constitutes a pub51c benefit entity as dèlined by FRS 102. Dru s¢len¢e Ltd Trustees, report Icontlnued) For theyear ended 30June 2023 ACHIEVEMENTS AND PERFORMANCE The charlty has a vital role to play in Society. providing the public in the UK and internatlon311y with hi8h qualifyi scientiflcallv based information on drugs and evidence-based comment and analysis ol new research. The charity aims to inform public understanding about drugs and promote effective policies and practice in the UK and 8t internatlonal level. The charity reviews and investi8ates the sclentiflc evidence relatlng to dru8s, free from politlcal concerns. The charity provides accessible information on drugs to the public and prole5siona15 via direct cornmunicationi podcast5, educational resources, webinars, events and via its web-based information pages. The charity works in the UK and internationally and addresses issues surrounding drug hèrms and benefit5,' regulation and education,. prevention, treatment and recovery. We believe that.. Everyone has the light to be able to access accurate inlormatlon about the effects, harms and benefits ol drugs. All people have the rightto recelve elfectNe, e￿dence-ba$ed drug edueatlon. All people with dru£-related problems have the right to services that will support their recovery. There needs to be an ongoing and open publSc discussion abovt drugs and their place within our society. Policy and practice Should be based on evid&nce from research and experience and independent review. All drug users have the rf8ht to a Ilfe free from dSscrSmlnatlon and stigma. Any regulation of drug use should aim to prevent and reduce the harmful consequence5 of dru8 use. It should be proportlonaie to the ham)s. It is vitally important to extend the evidence base on drugs through research. Public servitss should airn to prevent and ¥educe harms to drug users and others. Unnecessary and overly laborious barriers to research should be eroded to facilitate a higher quality understanding of dru85 regardle55 Of their legal Status. Trustee meetin The charlty trustee meetings were held every three months throughout this period. The maln issues discussed included= Governance and organisational structu Fundraising Drug Sciencestrategy Updating of trustee5 Updating on present expert members The importance of continuin8 regular newsletters Reports Research progress In the last period, the charity has continued to grow in temis of genÈr3ted income, the staff te8m, the charity's researth output5. and its contribution5 to poliry making and public communicatlOn5. Total incoTne received during the finanual year has been the hi8hest ever achieved since we were founded over 10 ye3f5 ago, including a major donation to further the work ol the or8anisation. Dru s¢len¢e Ltd Trustees, report Icontinuedl Forthe year &nded 30June 2023 Drug 5cienee has Sncorporated a trading Subsidiary, called Drug Science Trading Ltd. The purpose ol the subsidiary 15 the provision of a consultancy service to commercial stakeholders in the areas of medlcal cannabis and psychedelic research. The subsidiary is a re8lStered company wholly owned by Drug Science. donating 100% of its surplus to the charity. The charlty Is now leadlng four working groups.. the Medltal Cannabi5 Working Group IMCWGI. the Medical P5ychedellcs Working Group IMPWGI the Enhanced Harm Reduction Working Group IEHRWGI and the Education Working Group IEWGI (see further details below). l of this work is rnade posslble through the great contributions made by expert rnember volunteers. We are 8ratefvl for the many hours. members have worked on partlcipatlng and presentlng at the qubrtedy Drug Sclence symposia, writing publlc letters. report5 and publishing relevant Papers. Without this valuable contribution ol time, energy and exp&rtise the charity would not have been able to achieve so much. Throughout this period, the Oru8 Science Sclentlfic Committee continued to meet every three months to dSscuss possSble outputs frorn the charity and other interrelated issues that are relevant to the charity. General research ￿Jtputs DSPLlournal- change In publishin8 8roup has improved turnover rates recently IPublications available.. htt 'ourna1s.sa ub.com home ds Discussion were held wlth publishers on how best to develop the journal, and work towards Imp3Ct Factor. Special Issue on Ayahuasca (led by Dr Simon Ruflelll currently ID preparation. Crome, l. Nutt, D, Stevens, A. leds.I120221. Oru8 Science and Brit15h Drug Policy. Waterside Press. Ferrelra, P.M. Nutt D.120221. Regulating the oxide5 of nitrogen- popping the rnyths. DSPL,. 8. Ferrelra, P.M., Wlnstock,A.R., Schlag, A.K., et al.120221 A comparative study of the harms of nltrous oxlde and popp&rs using the MCDA approach. DSPL,. 8. Policy contributions include response to white paper'swilt, certain, tOU8h'. new consequences for dru8 possession, htt ov.uk overnmen con5ultation5 5wft-certain-tou h-new-conse uences-for-dru ossession-white- LLerl. together with large Scale 5ignatL*re collection together with Release, 7r3nsform, International Drug Policv Consortium, Centre lor Justice Innovatyon Contribution to TGA rescheduling of MOMA and Psilocybin in Australia. David Nutt and the Drug Science team prepared in-depth report to support Mind medicine Invited tonferentes include.. Etsropean SceptiC5 (Vienn31: Oxfofd kntèrary Fest￿al.. BNA FestNal Orug Sciénce Symposium (Brightonl.. We our here Festival St Giles IDorsetl Medical Cannabisworkin Grou MCWG The Medical Cannabis Working Group is a uoss-sector collaboratlon that includes saentific experts, academics, policy makers 3nd le3ders of patient advocacy groups alongside industry pèrtneTS collectively airning to improve and accelerate acce55 of medical cannabis in the UK lor all patients. To Improve and accelerate access of medical caDnabis In the UK for all patients. Objectives Develop and delsver scientific research on medical cènnabis Ensure provision of education and training lor physicians and health care professionals Improve evidence base through Rèal World Data collection Ensure effective communic3tion between stakeholders, involving patients and addressing patients concems Address Stigma within the medical profession, media and the general pubic Advocate fortransparency across industry relationships The Medieal Cannabis Worklng Group Is a collèboratlon that continues to prloritlse an approach that includes: science Ltd Trustees, report {continuedl For theyear ended 30June 2023 111 Medical education, lill Reasonable access to patients in need and patients seekin8 medic31 c3nnabis, alongwth liiil The collection of robust real-world data that may inform effectiveness and safety, alon8 Wlth QALY and patient reported outcomes. These approaches are key In the implementatlon of an effectSve access programme in the UK that is most likely to have the best public health outcome. It is clear that whllst there is great pro8ress In access to medical cannabls beln8 made worldwlde, patlents In the UK are bein8 prevented from accessing potentially beneficlal treatment, despite cannabis having been legally classified as 3 medicine since November 2018. Since then, only a handful ol patlents have recelved a prescription on the NHS, despite lobby and patient groups svggesting 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 patient5 based on unrnet need. thè risk ol a burgeoning illicit m8rket in th& context of restricted access. and the coll&ction of dat3 to monitor safety. Medical cann3bis is already being made available in sSgnlficant nurnbers in Europe and in other countries, whilst patients In the UK are belng driven to the illicit Cannabis m3rket ch3racterised by irregular produrts high in THC. or the CBO market currently governed as novel food by the Food Standards Agency Research out uts of the MCWG Launth of health economlcs analysls on medlcal cannabls and chronlc paln Sn Feb 2023, tO8ether wlth the CannabSs Industry Council. E5tirnated completion by end of Apfil 2023 Drug Science will lead the peef reviewed publieation. Launch of paecjiatric &pilep5Y Study using specifically developed app IbyAltaFloral to develop our previous work in this area, in March 2023. Sunderland, P. Schla8 AK, Nutt, D. Medication sparing alter medical cannabis SnitiatSon.. A case study of a chronic pain patient in Project Twenty21. DSPL Iln Pre5sI Lynskey MT, Schlag AK. Athana5iou-Fr3gkouli l B3dcock D, Nutt DJ. Characteristics ol and three-month health outcomes for people seekln8 treatment with prescribed cannabls.. Real World evldence from ProlectTwenty 21. DSPL (ln Press) O'BTien K. Belby J. Frans M. Lynskey M. et al. Prelimlnary Flnding5 from Project Twenty21 Australla.. an Observational Study of Patients.. Prescribed Medicinal Cannabis for Chronic Pain, Anxiety. PTSD and Multiple Scler05is. DSPL (Under Reviewl Thur8ur, H, Schla& AK, et al. Medical cannabls and Long Covid.. Current uses and potential future applicatlons. Exploration ol Medicine.. Sl Beyond Weed (Under Review) Schlag AK, Zaf3r RR, Lynskey MT, Athan3siou-Fragkouli A, Phillips LD and Nutt OJ120221 The value of real wodd evldence.. The case of medlcal cannabls. Front. Psychlatry 13..1027159. htt www.Irontier5in.o articles 10.3389 .2022.1027159 Zafar R. Svlak D, Brambila J, Nutt D. Schlag A.K.120221. Raising awareness.. The implement3tion of medital cannabis and psychedelics used as an adjunct to standard therapy in the treatment of advanced metastatic breast cancer. DSPL: 8. htt ou nals.s ub.com doi .1177 20503245221114323 Bourke S., Schlag, A.K.. O'sullivan. S.. Nutt, O., Finn. D. Cannabinoid5 and the endocannabinoid system in fibrornyalgia.. A review of preclinic31 and clinic31 ¥ese3rch. Pharmacology and Therapeutics. DOI.. 10.1016 h3rmthera.2022.108216 Schlag, A.K, Lynskey, M., Fayez, A. et al. Characteristlcs of people seeking prescribed cannablnoSds for the treatment ol chronic pain.. Evidence from Project Twenty 21. Frontiers.. Medical Cannabis and Pain. doi.or 10.3389 ain.2022.891498 Invited conferences include.. Meilldnal Cannabis Summit (Berlinl., CT Cann Icopenhagenl., CT Cann Trials (London); Cannabis Europa (London) Various invited webinars. e.g.. Romanian Parliament- Constellations, Analytlcal Cannabls Dru science Ltd Trustees, report (continued) Foi the year ended 30June 2023 Pro ectTwen 21 Pro ecr Twenr 21 is Europe's lar8est real-world data re8lStry to document efficacyj safety, quality-adjusted life year, and patient reported outcomes in prescribed medical cannabis in the UK. Through Project Twenty21, eligible patient5 can access affordable medical cannabis treatment, monitored by Drug Science. The project aims to create the largest body of evidence for the ellectiven&ss and tolerability ol medic31 cannabis. The findings of Project Twenty21 will provide evidence for NHS funding il the benefit5 of treatrnent with medicinal cannabis is proven to outweigh the potent131 risks. At the start of the year, we officially renamed the project Y21" to coinade with a new phase of the study. as we welcomed new partners and announced a new pricin8 discount model whereby patients can obtain a minimum of 5% off products listed on our formulary. The initial partner contracts forT21 all expired at the end of last year lauoss November and December 20221. These contracts covered the initial 3-year phase ol the project, and contributed £1.6m to delivery during thi5 period. The prolect has so far m3dÈ a significant impact on the medical cannabis sector, putting Drug Science at the very lorelront ol research and health outcorne d&ta in the UK. With wide interest from all Stakeholders to continue the project, Drug Sclence has been able to succe55fully negotiate new contract5 Wlth all but one of the legacy partners (Khiron, Leva and JMCC Gropupl. 3s well as agree three new partnerships with kncensed producers IEthypharm, Spectrum Canopy and Grow Pharmal. As the project has become flrmly established, the'start up, cost5 a5$0Clated with the first phase are no longer a requirement, and therefo the arnount required from each partner has been reduced. The Australian arm of T21 Iled by Releal Groupl 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 il medical cann3bis generally. Lon The Long COVID dinical trial was sponsored by Bod He31thcare with Drug Science acting as an investigator slt& who contracted Dr Elizabeth Iveson as Prlncipal Investl8ator IPII. The Lon8 COVID clinlcal trial was 8ranted approval from the NHS Research Ethits 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 17th january 20231. A total of 12 pèrticipants were enrolled. The MHRA condurted a Good Cllnical Prartice IGCPI Inspertlon of the trial on the week commenclng 3" Ortober 2022. There were 2 Critlcal flndings (along with several major and minor findln8sI identified during the inspection relatln8 to Clinical Trial Authorisation 3nd Investigational Medicinal Produtt IIMPI. Critlcallyj the IMP supply issuès couldn't be resolved. and the clinical trial was terminated earlv. The data from the trial is currently bein8 analysed by the study team at Drug Science ènd wlll be published in a peer reviewed journal. The clinic81 trial was a valuable learning exp&rience for Drug Science &nd highlighted the need for & new approach if Dru8 Sclence are Involved In future clinlcal trlals. Crltically, new strategies would involve input from clinical trial and regulatory expert5. Medlcal Ps chedelics Workin Grou The Medical Psychedelics Working Group 15 a cross-5ector collaboration that include5 Scientific expert5, 8cadernic5, policymakers, leaders ol p3tient advoc3cy groups and industry representatives, collectively aiming to create a rational and enlighteneil approach to psychedelic research anil clinical treatment. To create a rational and enlightened approach to psychedelic rese3fch and £linital treatment. Dru lert￿ Ltd Trustee< report (continued) Forthè yearended 30June 2023 Aim To create a rational and enlightened approach to psychedelit ￿searCh and dinical treatment Ob ectives Devèlop and delwerstientifit researth on psythedelic druBs Pfovlde evidence that supports the removal of psyd)edelic drugs from Schedule l ￿$trialon5 Work with regulatory bodies to ensure that relevant lewslation is enatted to faalitate medlcal use of psychedelic dr Promote destl8matisation and improved understsndin8 of psychedelic dru8S Provide evidence-based educational resour￿ on psythedelic medione lordoctofs, pham)actsts. healthcare professionals and the general public We believe that the futvre of psychedelit medicine is extremely promisin& and there is potential for the widespread application ol psychedelic drugs within public health models. After witnessing the legalisation of medical c3nThabi5 in 2018. we recc8nlsed a need to work collaboratlvely and proactivety with interdiscipllnary partners to ensure that psychedellc medicines are developed for UK. EU and worldwide healthcare model5. Current re8ulations have cfeated serious and considerable barriers io le8ltimate researdTr assoaated with Schedule I regulations. While existing legislation does not preclude 5uentific research with these drugs. it doe5 make studie5 conssderably more difficulL time-consuming and costty. With lurther ￿search and a greater understanding amongst policy makers. academic5. the media and the general publit, there is a realistic prospect of regulatory approval for psychedelic mediones. We aim to ensure th3t medical psychedelics can be used safely in an ethlcal and economicaljy 5U5tainable marbner and demonstrate a potential lor lastin8 therapeutic benefit. In 2020, we deaded to estsblish the Medic21 Psychedelics W0￿1n8 Group to break down the barriers of 50 years of medical censorship by creating a rational and enlightened approach to psychedelic research and clinical treatment. The group explores innovation within the psychedelic space with a specilrc locu5 on how psychedelic5 can be integrated into prirnary and secondary healthcare. Our beliet is that evidence-based soence. data sharin& and strong partnÈrships are essent131 for the suc￿55 ol psychedelic medicines. Research out uts ofthe MPW Schla8, AK., Aday. J., Salam, l.. Neill. J., Nutt. D.120221. Adverse effetts of psythedellcs: From anecdotes and misinformation to systematic science. J Psychopharniacology. htt oumals.sa ub.com doi 10.1177 026988112110691 Neill, J., Schla8, A.K. et al. Risks and side effects assocrated with the use of psythedelics. In D. Nuttantl Castle D. leds.) "Psychedelics as Psychiatric Medicine5" (ln Press) Mccrone. P.. Schlag A.K.. Fisher. H.. Neill.. J., NutL D. A health economics analysis to investigate the cost effectiveness ol psychedelics. Lancet Psychiatry. (Under Review) Sprlggs, M, Murphy-Beiner. A Murphy. R. Thurgur. H. Sthla& AK. ARC. A framewo￿ for access, reoproclty and conduct in psychedelic therapies. Humanistic Psychedelics (Under Review) Schlag, AK, Lynskey, M, Thur8ur, H, 2afar, R, Nutt, D. et al. Psychedelic medianes.. Real World Evidence. naturalistic studies and Rcfs. Working paper Schla& AK. Thurgur, H. Ruffell. S et 81. Reciprocity and sustainability in psychedelit medicines. Working paper Inv¢ted conferences include.. ICPR (Amslefdaml.. MAPS IDenverl- Insight IBerlinl- Psych Symposium (Londonl,. Breakln8 Convention ILondonl.. Breaking Convention (Exeterl.. Exeter Philosophy ol Psychedelic5 Research Group. Oru science Ltd Trustees, report {contSnued) For the ye&r ended 30June 2023 Drug Saence remain active lobbylsts for parliamentary change both withln the UK and globally. Key events the past year include provSding evidence to the Home Affair5 Committee'5 inquiry into the UK'S drugs policy in May 2022 lor psilocybln rescheduling and the lon8Standin8 contribution of Prol David Nutt anil Drug Science to the carnpai8n lor the Australian government ITGAI appr¢)val of MDMA and psilocybin for treatment-resistant mental health tonditlons. Followlng the Australlan approval In February 2023, and wth further dlseussion with the Australian charity who drove the campaign that resulted in the policy change Imind Med Australia). Drug Science are proposing to deliver a patient registry to collect health outcome data as patients are p￿ScrIbed both MDMA and Psilocybin in clinical settings. Th& registry will be based on the UK rnedical cannabis registry Ir211 and will be delivered in partnership with an Australian University. The Psychedelic Access and Research European Alllance IPAREAI was officially launched in June 2022. This is a new Initiative spearheaded by Drug Science to bct as a stand-alone, membership-led orKanizatSon focusing excluswely on the EU lobby and streamlining EU advocacy 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 wlth European Medicines Agency IEMAI Chief Medical Officer ICMOI and wide-reaching press articles. We continue to tollaborate wlth the CanadSan charity TheraPsTI who support Canadlans In medical need access legal, psilocybin-3551Sted psychotherapy 3nd psilocybin. TheraPsil's Project Solace aims to streamline access via the Special Access Programme for patients and provSders and gather data on treatment outcomes. We hope to use the fSndings ol this research to lobby UK regulators to make the same decision. nhanced Harm Reduction Workin Grou The Enhanced Harm Reduction Working Group is a consortium of Scientific experts, academic5J policy rnakeTS, treatment providers and advocacy groups, workln8 collaborativew to reduce the harms ol Sntravenous drug use. Aim To develop the evidence base for reduclng drug-related harm by piloting a Superyised Inlection Facility151FI in the UK Objectives Work with partners to establish pllot SIFS for evaluatlon. Inform legal reform to enable the development of the evidence base on SIFS. Collate and communicate the evidence-b3se for SIFS in reducing drug-related h3rm. Provide a forum lorsharin8 information on sale, ethical and ellective provision of enhanced harm reduction services. We believe that there is good real-world evidence lor the positive effects of Supervised Injection Facilitie5 ISIF51 across the world. SIFS are known by m8ny names including Overdose Pr￿ention Centre5, and Drug Consumption Rooms. There are suts￿e nuances between each. however, their function is to prO￿lde sale space5 for people to consume controlled drugs under the supervision ol people who can save lives If overdoses occur. Our alm Is to develop the ewdence base for reducing druB-related h3rrns by piloting a SIF in the UK. This collaborative initiative will evaluate whether establishlng a SIF would prove to be cost-effeetlve, reduce crime, improve publlc health, reduee drug litter. and increase engagemerbt in treatment 5ervlces. The EHRWG encourages the use ol a participatory development approach in the design and development of harm reduction services, Ensuring cLFproduCti￿ in the design, development and implementètion is key to ensuring that they work, are commLJnity-Iriendly. and hold the confidence of local drug-using communitles. This helps to ensure hlgh qualitYJ non- lud8emental service provision, acc&ptability and redvced stigma and the discrimination experienced by people who use drug5. DN science Ltd Trustee5' report (continued) Forthe yearended 30June 2023 People who use drugs are sadly farniliar with experiencing discrimination in health and social care settings. As such. those developin8 new services need to actively demonstrate their commltment to non-judgemental, ri8hts-based approach and participatory development is a good startln8 point. When a community own5 and support5 harrn reduction, this ensure5 effective service user recruitment, quality m3nagement and advocacv. The Enhanced Harm Reduction Working Group IEHRWGI has brou8ht on a Vice-chair (Dr R02 Gittensl to as51St the Chair (Prof Alex Stevens). R02 Gittens also sits on the Drug Science kientifit Committee, and will be assisting Alex Stevens and james Bunn n the operational management of this group, The EHRWG remit has expanded to cover other areas ol enhanced harm redUct￿on that are in need of further research to demonstrate their ellicacy. These two new areas ol research are.. Drug Checklng- Colloquially known as'pill testing,. this practice has been seen at festivals but also in inner citie5. Thls service is a way to reduce the harm from drug consumption by allowing users to lind out the content and purity of substances that they intend to consume. This enables users to make safer choices.. to avoid mtsre dangerous substances, to use smaller quantities, and to avoid dangerous combinations. Hlgh-Tolerance Houslng IHTHI- HTH models allow people who use drugs to consume their drugs within their home. Thi5 would usually breach a tenancy agreement, however, HTH models exSst In plaees sueh as Canada to prevent people from being thrown out on the 5tfeet following the consumption of 3 subst3nce within the confines of their own home. SupetVÉsed Injectloh Facilitles ISIFsl- Drug Science will continue to advocate for 51Fs in the UK and still intends 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 provider5 joining the working group last year. These new rnembe￿ include.. Ana liffev Barod Merchants Quay Westminster Drugs Project Educatlon Workin Grou Our Education Working Group was setup last Au8USt and is meeting regularly and increasing in engagement and activitv. Aim We disseminate evidence4)ased drug education to Students, medical professionals. academic5* politiaan5 and industry. We strive for a world where everyone is properly informed and armed with the tools to Share their knowledge. The Working Group eflectively Consolidates the educational outputs of Drug Sciente. which chiefly conststs of the podcast, educational modules, books, events. student. unlversity and School engagement. Oblectives Work with partners to develop strategies to engage with edUCat￿onal institutions and partner with relevant network treatment prowders and organisations Grow awarenes5 of Dru8 Science and build reputation amongst educational institutions Combat stigma in relation to drugs education within the UK educ3t5onal system Current activlties include the development of 3 CPD module in alternative medicines with the BTltish Association of P5ychopharmacolo8y. development ol a new Nitotine and vaping under 18$ module and the continued expansion of the Dru8 Science Student Society Network ISSNI. We are currently collaborating wlth Prof Adam Win5tock on the upcoming Student5 Oru8 Survey. and in discussions about h05tin8 an education conference day to be aimed at teachers and treatment providers. Psilocybin for depresslon.- £onTrparin8 atademic vs industry-led clinical trials Dru science Ltd Trustees, report Icontinuedl Forthe yearended 30June 2023 Dru Science Polic and Lawjournal The Orug Science Journal continued to develop its scope ol articles and remains open access to allow wide dissemination of peer reviewecl articles. Recent articles focus on cannab1s, psychedelics, the op10￿d epidemic in the US and wider drv8 harms and drug policles Iplea5e see. https-.l/journals.53gepub.comlhorneldspl. 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 counterand prescription only medication Psychedelic use predicts objective knowledgeabout climate chan8e via increases in nature relatedness A comparatlve srudy of the harms of nitrous oxide and poppers using the MCDA approach Raisin8 awareness.. The implementatlon of medical cannabis and psychedelics u5eiJ as an adjunrt to standard therapy in the treatment ol 3dvanced metastatic breast cancer An Interpretative Phenomenological Analysis of the use of psilocybin byveterans wlth svrnptorns ol trauma How to read a paper on the 5hort-terrn impairing effects of cannabis.. A Selective 3nd critical review ol the literature Comparatlve harm5 asse5srnènt5 for cannabi5, alcohol. and tobacco.. Risk lor psych0515, cognitive impairmenL 3nd traffic acadent State naloxone co-prescriblng laws show miKed effects on overdose mortality rates Eating ourselves to death.. How food is a drug and what food abuse costs The Misuse ol Drugs Regulations 2001.. A case study in poor legislative drafting Psychedellcs as potential catalysts of scientific Creat￿ltY and Insight The Cathinone Hydra.. Increased Cathlnone and caffeine adulteratlon in the Engllsh MDMA market after Bfexlt and COVID- 19 lockdowns F3rm3bility and ph3rmability'. Tlanslorming the dru8 market to 3 health-and human ri8hts-centred approach from self- cultivation to sale supply ol controlled substances Regulating the oxides of nitrogen- popping the myths Corrigendum for The risk ol bein8 culpable for or involved in a road crash after using cannabis.. A systematic review and meta-analyses Can psiloiybin be safely administered under medical supervislonP A systemati£ rewew of adverse event reporting in The D Science St dent Soci The Drug Sclence Student Society Network is a student-led group that aims to provide evidence-based education on 811 psychoartive substances. The group was founded in March 2020, since that time, Dru8 Science have established student roups at some of the UK'S leadlng unlversities. The network was relaunched as the SSN in summer 2022. It currently consists of over 20 student societies, with the majority based in the UK, and a social platform IDiscordl with around 150 student members. Since the start ol the academlc year In September 2022, SSN events have been hosted at York. Cambrldge, Bart5 and Leed5 universities, with events planned over the next three months in Manchester, Belfast, Exeter and Hri5tol. This year's virtU31 Student Psychedelic Conference will take place In Aprll 2023. In Ilne wth prevlou5 year5, this wlll be co. Total funds at 301une 2022 337.675 497A47 264,265 601,940 810,785 Totalfund5 at 30 lune 2023 14 312,938 15 Drugscience Ltd Statement of financial activities For the year ended 301une 2022 2022 Unrestricted Restricted Totsl funds fvnds funds Note 2022 2022 2022 Income frc¥n'. Donatyon5 & le8aoe5 thar￿tabIeactWItles 416,695 9.691 426.386 572.380 989.075 9,691 998,766 Total intome 572,380 Expenditure on.. Raisin8funds Charitsbleactivities 48.204 258,338 3(%.542 87.394 298,034 385,428 135.598 556.372 Total expenditure 691,970 Net income/lexpenditurel and net movement in funds 119.844 186,952 306,796 Reconcillatlon ol funds-, Total funds at301une 2021 217.831 77,313 295,144 Total funds at 30June 2022 14 337.675 264.265 601.940 The Statement of financlal activities Includes all 8alns and losses recognlsed In theyear. All olthe charity'sactivitles derived from continuingoperation5 durin8the abovetwofinancial periods.The Notes on pages 18 ta 25 form part of these financial statements. 16 Drugscience Ltd- Registered company number: 08032149 Statement of financial position Fortheye3r ended 30June 2023 2023 2022 Investmants li Cuirent assets Debtors Cash at bank and in hand 478.598 466,778 945377 176,380 681,457 857.837 Credltors- Amountsfalllng duewlthln one year {￿4￿92) 1255.8981 Nei cuNent assets 810.785 601,939 Total assets lèss current liabilitles 810.785 601.940 Total net a55ets 810.785 601,940 Charityfunds 14 Unrestricted fijnds.. General Ivnd Designated funds 497￿7 157,675 180.0 497,847 312.938 810.785 337,675 264.265 601,940 Resrr6cted lunds Total funds The trustees consider thal the charity is entided to exemption from the requirement to have an audit under the provisions olsection 477 01 the Cc￿panieS Act 2¢¥￿ l-theAd-l and members have not required thecharity to obtain an audit for the year in question in accordance with section 476 of the ACL The trustees acknowledge their responsibilities for complwng Wlth the requirements ol the Companies Act 2006 with rèspect to accounting records and for preparing linan(ial statements which gwe a true and fairview of the state ol affairs of thecharitable companya5 at 30June 2023 and of it5 incomeand expenditure for theyear in accordance with the requirements o15£dion5 394 and 395 01 the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements. so faras applicable to the tharity- The financial ststements have been prepared in accordance wth the ss)e(ial provisiorjs applicable to small companies within Part 15 01 the Cofflpanies Act 2LK)6 and in accordance with FRS 102. The financSal statements were approved bythe trustees(ffj Jun 28, 2024 aNI si8ned on thelr behalfby. Prof Ilana Crome Chair The notes on pages 18 to 25 form part ofthese financial statements. 17 Drugs¢ien¢e Ltd Notes to the financial statements For the year ended 30June 2023 General Informatlon Drugscience Ltd I'the charity'l is a private company Ilmited byguarantee and is incorporated in England and Wales. The members of the charity are the trustees named on page l. In the event ol the charity belng wound up, the li3bility in respect ol the guarantee is limited to £1 per member of the charity. Its registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, Unlted Kingdom, CTI 3DN. The company registration number is 08032149 and the charity number 15 IIS0449. A¢tountln£ Poll¢les Basis of preparation of flnantial statements These flnaneial statements have been prepared in tompliance with FRS 102.'The Financial Reportin8 Standard applicable in the UK and the Republlc of Ireland., the Statement ol Recommended Practice applicable to charlties preparin8 their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFAS 10211 and the Companies Act 2006. The financlal statements have been prepareij on the historical cost basls, as modified by the revaluation of ￿rtain financial assets and liabilities and investment propertiÈs measured at fair value through income or expenditure. The financial statements are prepared im sterlin& which is the functional currency ol the entity. 2a A55e5sment of going concern The trustees have a$5essed whether the use ol the 8Oin8 toncern assumption is apprtsp¥iate in preparing these accounts. The tTUStees have made thi5 assessment in respect io a period of one year from the date of approval ol these accounts. The trustees of the charity have coneluded that there are no materlal uncertalntles related to events or conditions that may cast Significant doubt on the abllity ol the charity to continue a5 8 going cOn￿rn. The trustees are of the opinion that the charity wlll have sufficient resources to meet its liabilities as they fall due. Cash ftow statement The financial statement5 do not include a cash flow statementbecause the charity, a5 a Small reporting entity. 15 exempt from the requirement to produce such a statement under Accounting and Reporting by char￿tieS Statement ol Retommended Practice ICharitie5 SORP IFRS 10211. Fund accounting Unrestricted fund5 Bre available for use at the discretion of the trustees to further any ol the charity's purposes. The desi8nated fvnd of £180,000 is an unrestricted fund which is set aside to be spent on the PET-MRI Synaptogenesls studywith DMT within the department of Brain Sclence at Imperial College London. Restricted funds are subjected to restrictions on theSr expenditure declared by the donor or through the terms of an appeal, and fall intts one of sub-classes.. restricted income funds or endovjment funds. 18 Drugsclence Ltd Notes to the financial statements (continued) For theyearellded 30June 2023 Income All incoming resources are included in the statement of financial artivities when entitlement has passed to the charity,. it is probable that the economic benefits assooated wtth the transaction will Ilow to the charity and the amount can be reliably measured. The following specific polioes are applied to particular categories of income.. income from donations or 8rants is recognised when there i% ewdence of entitlement to the gift, recelpt Is probable and its amount can be rneasured reliably. legary income Is recognised when receipt is probable and entitlement 15 established. income from donated 8oods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the c05t to the donoror ihe estimated ￿sale value. Donated facilities and serwces are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the ¢ontrÉbution of general volunteers. income from contrdcts for the svpply of services is recognised with the delivery of the contracted senrice. This is classified as unrestricted funds unle55 there is a contractual requirement for il to be spent on a particular Purpose and returned if unspent. sn whith case it may be regarded as restrirted. 2.6 Expendlture Expenditure is re(08nised on an accrvals basis as a liability is incurred. Expenditure includes any VATwhich cannot be fully recovered. and is Clas￿fied ur¥der heading5 01 the 5talement of finanaal activilies to which it relates.. expenditure on raising funds includes the costs of all fundraisin8 acvvities. events, n￿-cha￿table trading activlties, and the sale of donated goods. expenditure on charitable activities include5 all costs incurred by a charity in undertaking activities that further its charttsble aims for the benefit of its beneficiaries. indvding those support costs and cos15 relatin£ to the governance of the charity apportioned to thèfltable 3cttvities. other expenditure includes all expenditure that is neither related to raisin8 funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. threct costs attributable to a single aciNity are allocaied directly to thai activity. Shared costs are apportioned between the activlties rhev contribute to on a reasonable. juslifiable and consistent basis. 2,7 Oebtors Trade and other debtors arerecognised atthe settlementamountafteranytrade di5countoffered and net of ary provislon. p￿payments are valued at the net amow)t prepaid. 2.8 Cash at bank and in hand Cash at bank and in hand indudes cash and shorttemi highlyliquid investments with a short maturity of three month5 or les5 from the date of acquisition or opening of the deposit or similar account. liabilities and promsbjns Liabtl*ties are recognised when there is an obligation at the reporting date a5 a result of a past event. it 15 probable that a transfer ol economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabilittes are recoBnised at the amount thatthecharity anticipates It￿11 pay to settle the debt or the amount it has received as advanced payments for the 8oods orseryices li must Provide. 19 Drugs¢len¢e Ltd Notes to the flnan¢lal statements (contlnuedl Fortheyear ended 30June 2023 Oonatlons& le8acles 2023 Unrestrlcted 2023 Restrlctsd 2023 Totsl 2023 Donations 51,934 51,934 Educatlonal grants 118,741 345,431 464,172 170,675 345A31 516,106 2022 Unrestricted Restrlcted 2022 Totsl 2022 2022 tlonatyons 59J36 59,336 Educational grants 357,359 416,695 572,380 572,380 929,739 989.075 Deferred Income analys15 Unrestrlcted Restrlcted funds Total funds funds Balance as at 01 july 2022 Income deferred in the current year Amount rèléased from previous year 8alance as at 30June 2023 32,791 97,721 130,512 6.742 75,000 81,741 132,7911 6,742 197.7211 75,000 1130.5121 81,742 Note: Donati￿5 deferred during theyearisrelated to Collaboration agTeernent5,Jointworking agreement5 and Event income whith are to bè rèceived in future perlods. 20 Oru8science Ltd Notes to the flnanclal statements (continued) For the yearended 301une 2023 4, Income from charltable actlvltles Unre5trlrted 2023 Re51rkted 2023 Total 2023 8ook Royaltles 7,249 7249 Events 18.960 18,960 Non-proflt Incorne 373,265 373,265 399,474 399,474 2022 Unrestrfcted 2022 Restrfcted 2022 Total 2022 Book Royalues S,360 5,360 Events 4,331 4,331 Non-prefit Intome 9,691 9,691 5. Raisln8 funds 2023 Unfeslrlcttd 2023 Re5trlcted 2023 Total 2023 Allocated support costs (note 71 Marketin8 PRIPublic income S7￿19 5,547 6,200 42,839 6,924 2,015 100,658 12,471 8,215 2022 Unrestrlcted Restrided Totsl 2022 2022 2022 Allocèted suppcrt Costs Inote 71 Marketing PRIPubllt Income 43.694 252 52,593 31,863 2.938 96,287 32,115 7,196 4,258 21 Drugsclence Ltd Notes to the flnanclal ststements (contlnuedl Forthe year ended 301une 2023 Expendltureon charltsble actlvltles Restrtcted Total 2023 2023 Ajlocated supwt t05ts Inote 71 340.411 244.980 585,391 585,391 340AII 244380 2022 Unrestricted Restricted 2022 Total 2022 AllocatedsUPPJrt cost5 Inote 71 258J38 298,034 $56,372 556372 258J38 298,034 7. Support costs 2023 Ratsln8 funds INote 51 Unrestrlcted fund5 Restrlrted funds fvnds (Notè 61 Staff costs 363232 427J34 284.917 142A17 Tran5POrt costs 22 9,641 Govemance costs Inote 101 ather support costs 14573 1457a 12.347 2.226 34,234 194.425 228,659 95,124 133,535 Totsl IIY).658 585.391 686N9 398.830 287,819 2022 Ralsln8 funds (Note 51 a)arfjtable actNitiÈS Totsl funds Unrestrfcted funds Restrlcted funds (Note 61 staff costs 63,919 362.201 426,120 195,786 230,334 Transport costs 970 &470 3.396 3,074 Ggvernance costs INote 101 Othersupportcosts 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 Trusteegremunerntlon No trusrees recewed anyemdvments orrelmbursementofout-of-pocketexpen￿fOrtheirse￿Ces as trusteesdurlngthe year12022'. nonel. 22 Drugsclen¢e Ltd Notes to the flnanclal statements (contlnuedl Forthe yearended 301une 2023 9, Staff costs 2022 Wages and salarfes Social security costs Other pension costs Freelance staff 326,701 33￿92 6.607 60,434 427334 324,819 23,898 6,653 70.750 426.120 The avera8e monthly number of employees durin8 the yearwas 712022.. 91. Staff recelving emoluments In excess of £60,000, exclvdin8 employerpeeTrsion contributlons, dvrin8theyear were as follows.. 2023 Nty 2022 .. E60.001- £70,000 10. Governance costs 2023 2022 kcountanryfee Independent examination Legal fees 10.497 iiso 8￿90 1.851 14,573 10,741 11. Axed asset Investments Investments Insubsldlary Companlès At l July 2022 Addltion during the At 30June 2023 Subsldlary undertakln8 The followin8 was a subsidiary uThdÈrtzkin8 of thecharity.. Name Country of IrtCOTporatlon England and Wales aass of shares Holdlng DrugscienceTradin8 Ltd Ordinary 23 Drugsclence Ltd Notes to the flnanclal statements Icontlnuedl Forthe yearended 30Jvne 2023 12. Debtors 2022 Trade debtors Amount owed by group underiakin8s Inote 161 180A89 176.380 478,598 176.380 13. Ciedltors., amounts falllngdue wlthln one ytrar fotal 2023 Total 2022 Trade creditors Arnount owed to group undertakin85 (note 161 Otherttèditors Accruals Deferrèd incorne Othertaxation 24,593 34,478 65.081 2.837 5,017 130,512 17,973 255,898 1,346 5,317 81,742 21,594 134,592 14. Analyslsolnet assets between funds 2023 Restrl¢ted funds Unrestrlcted fvnds Total funds Investments Current assets 387.938 557.439 945,377 312,938 497.847 810.785 2022 Restricted funds Unrestricted funds Total funds Investments Current assets Currènt liabilitie5 361.985 197,7211 264,265 495,892 1158,1771 337,675 857A37 1255,8981 601,940 24 Drug5cience Ltd Notes to the flnanclal ststements (continued) Fortheyear ended 30June 2023 IS. Restrlcted funds analysls As at l July 2022 Income Expendtture Transfers Asat30 June 2023 rwenty21 lal PAREA Ibl Lon8 Covid Icl Total restrkted 264,020 260,667 84,764 1204.7561 170,4321 319,931 14332 21 25 264,265 345.431 1296.7581 312,938 As at I july 2021 Income Expendlture Transfers Asat30 June 2022 Twenty21 lal PAREA Ibl Long Covid It) 77,313 501,667 25,713 45.￿Ja 1314,9601 125,7131 144,7551 264,020 24S Total restrirted 77,313 572,380 1385,4281 264,265 al The Twenty21 fund represents the income which w35 used to create the UK'5 lar8est b￿0f evidence forthe effectiveness and tolernbillty of medical cannabis. The charity hope that the flndlngs of Project Twenty21 wlll provlde evldence for NHS lundlng where thé benefits of trèatment with mèdicinal cannabis Is proven to outweigh the potential risks. bl PAREA fund represents the Income which was used to raise awareness, provide evSdence-based policv recornmendation5 and aC￿lerate scientificand pollcy response. leading tothe adoption of a holistic approach lo psychedellc novel treatments In Europe. cl Long Covid represents the income which was used totest high cannabidiol ICBDI contalning medical tannabis oil to See If it can Improve the 5ylnPtoms of Lon8 COVIO. 16. Related party transèctlons Durin8 the year ended 301une 2023, the charity granted loans of £10,47412022.' £65,0811 and rechar8ed costs ol £373,264 to Dm8 scienceTrading Ltd, a wholly owrted Subsidiary. At 30 lune 2023, the amount due frorn thls Company Wa5 £297,70912022: £65,081lamount due toll. Thi5 loan is interest free and repayable on dernand. There were no other related party transactions in the perlod of report12022.' nonel. 25