Society of Chemical Industry
Annual Report and Accounts
31 Decemb8r 2021
Charity Reg￿lr￿iDn Number
3J6883

Conttnts
Roports
Reference and administrativè information
Trustees. report
IndeFendent audltorfs report
15
Accounts
Consolidate(I statement of financial a¢tivities
19
Balance shaets
20
Consdidatsd Statemgnt of cash flows
21
Princip81 accounting pcAictes
22
Notgs lo the 0￿rrtS
28

R8f&r•nce and administrntive inforniatlon
Trusts•s Mr H Swan (Chairman}
Dr G Fowler IHonorary Trèasurar)
Dr D Allen
Dr B Alston
Mr D Bifkett
Ms L Bru¢e-Gardyn8
Dr N Challoner
Dr C Crowhurst
Dr J Hague
Prof R Jones
Dr K Matthews
Prof J MordLTrLuntz
Dr J Ramakers
Dr S Skerratt
Prof J Sweeney
Prof K C Thompson
Dr A Walker
Dr D Witty
Dr T Wood
Chlef Exgcutive Officgr Ms S E Todd
Principal office 14-15 Belgrave Square
London
SW1X 8PS
Charlty registration number 2(￿883
Auditor Buzzacott LLP
130 Wocxl Street
London
EC2V 6DL
Inv•$tm•nt manag•r Quilter Cheviol Investment Management
1 ￿ngSWaY London
WC2B 6AN
Bankers HSBC Bank plG
Thg Peak
333 Vauxhall Bndg8 Road
London
SW1V 1EJ
Sollcltors Stone King LLP
16 Sl John's Lang
London
EC1M 4BS
So¢iety of ch9m1￿1 Industry

Tru$t••$' R•port Year ended 31 Decembttr 2021
Th8 trustees present their statutory report together with the audited awounts of the S(￿1&ty of
Chami¢al Industry I'SCI" or'lhe S¢Kiety'l for the year ended 31 0g¢embgr 2021. The accounts
have been prepared in ac¢ordan¢e with the accounting policies set out on pages 22 to 27 of th•
attached a¢¢ounts and comply with the charitls governing d¢xument. the Charities Act 2011 and
Accounting and Reporting by Charities.. Statement of Recommendèd Practicè applicable lo
charitiès prèparing their 8ccounts in accordance with the Financial Reporting Slandard applicable
in the United Kingdom and Republic of Ireland IFRS 1021.
GOVERNANCE. STRUCTURE AMD MANAGEMENT
Constitution
The S¢xiety of Chemical Industry was founded in 1881 and incorporated by Royal Ch8rter in
1907. A copy of tha Royal Charter, By-laws and Rules which governs the charity's activities may
be obtained on ieque5t from the principal office al 14-15 Belgrave Squar8, London. SW1X 8PS
or vi8w8d on Dur wèbsile, www.soGi.or
SCI regi51eied itself with the Charity Commission in
1962 Icharity Registration No 2068831.
Board of Trustè•s
Overall responsibility for the affalrs of the ¢h8rty lies with its Board of Trustees I'the Board. or
°BoT'I. The following trustees w8r& in offic8 throughout thè periexl of r8Ptsrt and up to the date of
pproval of the annual report and accounts. except where shown..
Trv5ts9
AppolntedlReslgned
Or A D Baylis Ichairmanl
Dr D Allen
Dr B Alston
Mr D Birktttt
Ms L Bruce-Gardyne
ttr N Challoner
Dr C Crowhursl
Dr G Fowler (Honorary Treasurerl
Dr J Hague
Dr M Harrison
Dr R Harrison
Mr M Heijbioèk
Prof R Jones
Dr K Matthews
Prof J Mordue-Luntz
Dr J R8makers
Dr S Skerratt
Mr H Swan Ichaimianl
ProfJ SWee￿Y
Prof K C Thompson
Dr A W81k8r
ttr D Witty
Dr T Wood
Rgsigned July 2021
ApFM)inted July 2021
AprK)irrted Juty 2021
Apw)int&l July 2021
Appointed Juty 2021
Resigned July 2021
Resigned July 2021
Resigned July 2021
Appointed July 2021
Appointed Juty 2021
)pDinted July 2021
Appointsd July 2021
Society of Chemical Indu$lry

Trust••s' Report Year ended 31 December 2021
GOVERNANCE, STRUCTURE AND MANAGEMENT Iconlinuedl
Govemance Structure and Management
SCI is goveingd by the Board of Trusleps, supported by govgmance committees. to provide
8dvi¢e and support lo thè Board and the GEO on aspects of the Souety. Authority is delegated
to the Chief Executive and her tearn lo manage the operations of the Society.
Tnjstees are kept up-to-dale wth best practice standards and dèvelopments in governance
through the Chief Executive and the Society's prof&8sional advisors. SCI s8eks to compty with
the Charty Governance Code for the voluntary and community sector.
New trustees and those taking office on Standing Committees are mad8 aware of the
responsibilities of Iruslees and Offi￿ bearers under the Charities Act 2011 and under the
SocAety'8 governing documents.
Members ar8 818cted to gov8manca committees via an annual 8lection prcws. Mèmbers may
also be co-opted onto govemance committees. SCI pursues an overall Policy of transparen
8nd clear communication. Minutes are taken at all governance meetings and acticffts ar&
recorded.
2021 Gov•rnanco Rovlew
SCI rur￿ a pr￿e$S of rolling review of its gov8m3nc8 and conllnues to implèmènt ¢hawe8.
supportad by its wofessional advksors. d8sign8d to slrgnglhgn th$ organisation. A govemance
review into the senior levels of the organisation ¢ulminaled in an EGM being held in January
2021 to agree various changes to the Charter and By Laws. Thg key changes approved by
mèmbers al the EGM included the change to move from an elected lo an appointed chair of thè
Board of Trustees, and a change lo the President's role from being an Honorary one lo an
executiv8 onè. In addrtion, a new Presiden15 Council was18unched, chaired by the President.
The new p￿sIdentS Council, is made up of senior stakeholders, and acts as an 8dvisory body
lo the Board of Trustees and the Chief Executive on strategic and governance matters.
Appointment of trust8•s and standlng ¢ommitt•• Mom￿r$
Elections to the Board of Trustees and the other govomance committees are held each y88r lo
ensure the succession management of gov8mance and compliance with statèd pèriods of office.
This process is directed by tho Board of Trustees and managed by the Chief ExecutlV8. In addttion
lo elected positions on thè Board, Co-opted positions are used lo attrad trustees wtth skilLs and
talent to complement the IT￿teeS elected by the membership of the Society.
Induction and trainlng of thoso ¢harg•d wlth go￿rnan¢t
Trustees and others Involv￿ in SCI'S governance are kept upto-dale with best pract￿&
slandards and d8velopments in gov8rn8nce through the Chief Execullve 8nd the Soc4ety's
professional adviS(￿s. SCI saoks to comply wth the Charity Governance Code for the voluntary
and communty Sector.
Society of Chemical Industry

Tru$t•gs' Report Year frnded 31 De¢èmb&r 2021
GOVERNANCE. STRUCTURE AND MANAGEMENT {conlinuedl
New trustees and those taking office on Standing Committees are made awarg of the
responsibilities of trustees and office bearers under the Charities Act 2011 and under th&
Society's goveming documents.
Standing Commitieos and 5ublommltt•es
The Board is supported by one Stsnding Committee and five Sub-cornmitlees. which advise on
spacffic asp8Cts of SCI'S work. The Chair5 of each are also m8mb8rs of thè Board of Trusteos.
Flnance and Investments Advisory Committee (FIAC)
FIAC is a Standing Comtnittee and advi5e5 the Board on all financial matters ￿lating lo the
Society including investments. investrn&nl pcAicy issues. reserves policy, budgets (annual and
project r818t8d}. IT policy and property.
Memb8rship Commltt8• (MC)
The Membèrship Committee advises the Board and the Chief Executive on ways and me8ns of
enhancing the value of SCI membership from ihe members. perspective.
Publications Commlttaè (PC)
The Publlcalions C¢mmittee is responsible for advising the Board on SCI publishing actiwties Ènd
strategies.
Careets Committee (CC)
The Careers Committ9e advises on servhGe5 and inilialives to sUPPOrt careers members of SCI.
CC also manages thè Collego of Scholars and ov8rse8s key awards.
Senior Appointmènts aftd Remyner•tion Committee (SARC)
SARC'S role is to appoint the Chlef Executive and to approve overall pay increases for staff.
Nomln8tlons Commiltee (NC)
The Nominat￿n$ Committee, chaired by the SCI President, has the r8mit to oversee and
strengthen th8 proc8$8 of appointment or election of members to govemance positions.
Organlsatlon and Management
The Chief Executive is r8sponsible to thè Board for the efficient Gonduct of SCI'S affairs in
accordance with th8 Royal Charter, 8y-L8ws and Rules.
Th8 d81ivery of the strategy and the day-104ay management of SCI is delegatèd to the Chief
Ex8CUtive, and then further delegated lo the line managers. Staff work to an agreed operationa1
plan, tsrgels and budget agreed with the Board al the beginning of the ygar and report progress
to the trustees on 3 regular and fonnal basis. The management and staff work within a framework
of delegated authority.
&)ciety of Chemical Industry

Tru$tges' Rgwl Year gnd8d 31 Dgc&mb8r 2021
GOVERNANCE. STRUCTURE AND MANAGEMENT Icontinuedl
SCI pursues an overall policy of transparency and clèar communication. Minutes are taker) al all
govemanc8 meetings and aCtiL￿s are recorded.
SCI communicates with its membership and other audiences through the SCI member news
pages in Chemistry & Industry magazine, via ils website, www.soci.tsr
and through electronic
nèwslett8rs and emails that promotè its conf8rènc8 programme and other membership aclivitigs.
SCI has a blog, SCIBlog. 8nd also has pre88nce in social m8dia. such as Linkedln, Fa￿bOOk
and Twitter.
Key Managam*nt P?rsonng1
tnjstèas consider Ihatthey. logetharwith thè Chiaf Executive. comprise the key management
pèrsonn81 of the Charity in charge of dir8Cting and njnning th8 opèrations of the charty. Trustees
are not remunerated for their services to the charity. The remuneration of the Chief Executive is
determined through the Senior Appointments and Rernuneration Committee, Benefits provlded
lo the staff include a defined contribution pension scheme. BUPA cover and paid holidays in
excess of the legal enlitlemenl.
Executlve Managemant
The Chief Executive is responsible to the Board for the efficient conduct of SCI'5 affairs in
accordance wrth the Royal Charter, By-Laws and Rules. The delivery of the strategy and the day-
tr).day management ol SCI is delegated lo the Chiel Executive, and thèn furthèr dèlegated lo the
&X8CUtwe t8am. Th8 management and staff work within 8 framèwork of delègat8d authortiy.
Tradlng subsldlary
SCI owns and ¢ontrols the operations of a wholly owned subsidiary company, SCI Business
Limited (Company Registration Number 029945411. It undertakes trading aclivilies, which are
8nci118ry lo, but not part of, SCI'5 C4)re aclivilies, and donate5 the annual profits lo SCI in the fomi
of 8 Gift Aid donation.
The accounts accompanying the annual report are consolidated and incorpora18 the fina￿181
resulls and year end position of both SCI and its wholly owr￿d subsidiary.
iety of Chemical Industy

Trustees. Report Y8ar &nd8d 31 December 2021
OBJECTIVES AND ACTIVITIES
SCI was established in 1881 by forward thinking sclentists, inventors and entrepreneurs to h8lp
support and accel8rate the commercialisation of chemistry and r&laled sciences, into industry for
the benefit ol society. During its 140 years SCI'5 communty has developed a multitud8 of naw
products and proc8558s in a wide lange ol industy sectors, from new medicines to new materials.
bringing extensive beneffts to society.
Operating as an intemalional memb8rship oryanisation. SCI connects sclentlsts, industry,
govarnmant and other key stak8hold8rs to come together to solve some of th8 biggost global
challenges faGing sooety. Global Health issues to delivering solutions lo Net Zero. By
hamessing its unique nelworks novel solutions are developed, new entrepreneurial businesses
a￿ Supported and knowl&dgè is ¥har8d across bound8ries.
SCI'S i8 a unique rnullidi5e4plinary organisalion, bringlng together p80pI8 from different
disciplines, businesses and backgrounds, and from a wide range of sectors including agrifood,
energy, environment, health and wellbeing and materials. Members inGlude a wide range of
scienlisls, engineers and businesspetsple (senior 8xe¢utives. h&ads of R&D and innovation,
markèting and businèss dèvèlopmènt profèssionals and patent lawyers) from a wide rangè of
s¢iencè-b8s8d industries.
Scl's current strategy has focussed on SCI cL¥nmitting to:
11 Accelerating Innovation - hèlping to promote and support the 8¢celeralion of emerging
technologies into industry for the benefit of society thfough thg translation of knowlodge via
¢onfeftnce5, publi¢atK)ns and by buikling communitles.
21 Supporting the Ngxt Ggngration
providing valuabla r8sourc8s members including
gaining rwi knowledge, p8rson81 development and traSning. and support to build new
networks.
31 R¢¢ognlslng and fewardlng Ex¢•ll•n¢• In Innovatlon- recognisin9 individuals or teams
who show18adership in innovation or who ex¢el in the application of science.
4) Public Outreach
engaging the wbic in the benefits of the applic81ion of science vi8
events, publications, C&1 Magazine, SCIBlog, and the SCITalks Public Lecture PrtyJramme.
In formulating the Society's aims and in planning the work of the charity, the tru8tees confirm that
Ihey have hatj du9 Tagard tothe general guidanc8 published by the Charity Commission on public
benefit.
Society of Chemical Industry

Tru8tee8' Report Year 8nd8d 31 Decamb8r 2021
YEAR IN REVIEW
2021 continu8d lo be a challenging yèar with the ongoing COVID pandèmic. How8ver. all
operations ran throughout the year. mostly via onlinè events bul with a return to Some In￿rsOn
event towards tha end of th8 year. Income w8s ag8in nègatively impacted, however expenditure
was tightly managèd and the ov8rall pèrfomiance r•Su￿ed in a srnall operational deficit, despite
the drficull operating environment.
We are delighted that membership numbers continued to grow. with year on year increas85 over
the last 4 years. During the year all existing corporate partners eontinued their support for SCI
and r8n8wed their m8mbèrships. The corporat8 partnership programme continues to èxpand and
w• wèrè dalightèd to w&1comè a turthèr corporata partners during the year, including BASF,
Evotak and Givaudan.
Accelerating Innovation
Innovation Communltios
SCI supports a18rg8 numb8r of communitiés which bring together industry and academia to work
together to accelerate the development and commercialising of new technologies for the benefft
of society.
Two of our ¢ore areas are in Climate Change and Health and Wellbein9 with the comfflunily
working in critical arèas such as èlèctit vèhidès, nèw fomis of èn8rgy such as hydrogen.
sustainabl6 materials and hèahhcara d8v8lopmènls such as new cancer treatments.
The SCI Communrties a￿ often the first lo showcase emergin9 technologies as they start lo b8
adopted by industrythrough SCI'S extensive conference programme. The conference prograrnme
was busy throughout the year with conferences covering advancements in the areas of agrifood,
materials. health and wellbeing, and energy and environment. Through the ytsar conferen
income in¢reased by over 90t)A from tha previous year, and the dgbgale numbers grew
consKlerably from 2020.
New Communities addresslng Cllmaee Change
SCI continues to evolve and over recent years has been launching new Communilles In emerging
tochnology areas. During the year tsvo new communities in Battery Mal8ri81 and Sustainable
Materials were established, the first looking lo progress technologies for electric vehicles and tha
second lo address the challenge of developing Sustainable materials for consumer products.
FoGus on Lrfesciences
Scl's well estsblished Fine Chemicals Group is well kn¢)wn as ￿Ing a leader in the field of
emerging science for healthcare. The group run5 a series of conferences bringing together
academia and industry. From ils Process Development Symposium, pushing the boundaries of
technologie5 10 improve the efficiency of production of medicines to What's New In
Immunoth8r8Py, the pre-eminent ¢￿ference in SGienlific advancements in this important area of
naw cancer treatments. During the year FCG ran a full programffle of events wth several
surcessful in-p8rson events running through the autumn.
Society of chern￿1 Industry

Trustees. Report Year ended 31 December 2021
YEAR IN REVIEW Icontinued)
Highlighting COP-26
During the year SCI pariicipat•d in COP26. h8ld in Glasgow. The event featured a number of
earfy career scientists from within our netsyork who are working on solutions to Glimate chang8.
Th8 pan8llists shwased ngw f￿hnOlogIeS in ienewable enorgies. sustainability and process
technologies for the manufactur8 of mèdicinès. Thè èvènt highlighted the important work of our
communfiy and was well feceived by 8n online and in-person audience.
Publications
The global pandemicconlinued to disrupl sci8ntific r8s8arch, and Ihis translated into sorne income
decline in publication8 income. Readership across all publications continues lo grow, how&ver. in
particular in the digrtal media.
During the year SCI launched a new joumal, JSFA Reports, as a sSstsr lournal to its w811-
estsblished Journ81 JSFA.
Investlng In th• Next Generatlon
SCI continues to hav8 a strcA)g f￿uS on supporting and devèlopins 88rfy and mid-career
members. Activitl8s are aimèd al educating and developing this critlC81 group of future saentists.
inventors and entreprèn8urs. Evènts covered a wwde range of te¢hnology areas as well as
lunclional areas covered in various Iraining programmes. such as developing and managing
commerci31 intelle￿￿al property portfolio.
During the year all programmes. such as th8 Mgntoring Programm8, continu8d to oper81e very
8ffe¢tively online.
As part of the ongoing governance review SCI restructured its governance structure through the
year and launched a new Careers Committee focus5ed on helping to coordinate and amplrfy
SCI'S ext8nsive careers activities.
Rèeognlslng Ex¢ellence in Innovation
SCI runs an extensive international Awards Programme, promoting and T8cognising excellence
in innovation and industry. Excellence in leadership is recognised through the awarding of SCI
Medals and through the Memorial Lectures. Excellen¢e in research is r8cognised through a wide
rang8 of scholarships, awards. and prvzes given lo earfy and mid-care8r scientists from academia
and industry, lo help 8UPPOrt their personal development or to fund research.
COVID once again impactèd on thè awards programme during 2021, however nearty 90
scholarships. fellowships and pri2es were awarded during thè year, up from 2020.
Society of Chemi￿1 lThYu5try

Trust•e$' R•port Year ondod 31 December 2021
YEAR IN REVIEW lconlinuedl
Public Outr•a¢h
Dèspita the ongoing global pandemic we were delighted to see continued interest in tho SCITalks
public lecture programme. The programme attracted audiences from around the world wi(h talks
ranging from 'lnlerstellar Chemistry., by Dame Jocelyn Bell Bumell (who was awarded the Nobel
Priz8 in Physics in 19741 lo a talk by Professor Neil Ferguson, advisor to the UK govemmenl on
COVID, tslking about 'lnfeGtious Diseases.. epiderniological facto￿ and proc&ss6s'. The
p￿ramme is an important part of SCI'S outreach programme, helping to educat8 and engage
the public on the impx)rtance of science and industry for SOc￿ty.
ContrSbution$ from volunteer5
The Society ¢ontinues lo run a wide range of activTties thanks to the incredible contribution of th8
many members and volunteers who support SCI. We ccMlinue to recognise their important
contribution and be grdteful for their vision and passion for delivering scientific innovalicffts that
will benefit soci8ty.
FUTURE PLANS
SCI Strategy
As we enter our141Sl year SCI is developing a new strategy, f¢xussed on d81iv8ring our charitable
objectives into lh9 future. The previous strategic period of SCI 2016 to 2021 focuss8d on
developing the important LJnd8rpins to accelerating innovation, such as establishing a strong
tnembership base, ensuring a strong governance slructuie and inv8Sting in new capabiliti8s suth
as the digrtal a5sels, and the new stratègy will build on this base.
11 is anticipated that the ¢urrenl programme of SCI activities, such as the disseminatioft of
knowledge and facilitation of innovation through conferèn￿, publications and eady car8&r
programmes, will continue to grow and develop. howev8r these may lake new fomis into the
futur8. In addition, opportunities lo fvrth•r our charitable Cause by provKling new producÈs and
Services in new forms will be revbewed.
Est8blighed in 1881 with the purpos8 of acc8leraling sGienlifiG innovation into industry for the
bénefit of society, SCI believes this charitable purpose Is just as relevant today as it was in 1881.
Whilst the societal needs were around improving access to fcxxl and improving health. today
s￿letY ne￿3 science to address the climate em8rgency and to improve health and wèllbeing for
Society of Chemical Industry

Truste•s' R•port Year endad 31 Dacambor 2021
FINA14CIAL REVIEW
Results for the year
A summary of the yearfs resuts is provided on page 19 of the attachod accounts.
Total income for the ygar amounted lo £2,593k12020- £2.873kl. The principal funding sources
were.. publications £1,681 k 12020 - £1.943kl. conf8r8nc8s £165k 12020 £89kl, inveslfflent
income £225k 12020 - £191kl. income from letting and licensing of premises £261 k12020
£342kl, commercial Irading operations £24k12020- £66kl', and member subscriptions of £163k
12020- £152k}. The impact ol COVID-19 continued to be felt in our ability to leas8 offiGo space
in Belgrave Square through either short or long-term lettings however wè continued to develop
r online wèbinar ¢onlerence programme. r8sulting in ov8r 80 8v8nts being held in 2021, and
fijrther dèveloping oui Corporate Partnership programme. We also received a ftjrther £22k {2020
- £79kl of grant inwme via the Coronavirus Job Retention &hemp.
Continuèd Cost manag8m8nt, particularly around the building. effected In order to n8gate the
impact of COVICk19 meant that total 8xpendrfture for the ygar amounted to £2,960k12020 -
£3,121 kl. £2,867k12020 - £3.033kl of the expenditure incurred in th8 y88r. rèpresenting 97%
12020_ 970kl of the totsl expendituie incurred, bwas spent on charitable activities. whhch includes
directly attributable costs, project costs and overhead costs supporting core charitable objectives.
Other exp8nditure incurred of £93k12020- £88kl was on trading a￿1vitI9$. ￿ letting and hiring
of premises and on investment managamenl.
The nel expenditure for thè yèar before investment gains and lossos was thereforg £367k12020
nèt expenditure of £248kl.
After accounting for the net gains g&nèrat8d oth thg rgvalualion and disposal of listed invoslments
tolalling £896k12020- gains of £395kl. the charity's overall fund5 increased by £529k12020 -
£147kl.
The s￿laty's wholly owned trading subsidiary. SCI Business Limfted. reported a profit baforè Grft
Aid donations of £1 k12020- £39kl. The profrt eamed was payable to the parent charity under
Gift Aid in ￿ler to assist in meeting its obJ'6CtNès.
Fundraising
The SC￿lsty does not currently engage in Iradstional foms of fijndraising activity such as
collections or appeals, and as such, the Iruste9s do not consider il necessary at the moment for
tha SoGiety lo adopt any particular code of practice in this area. However, the Swi8ty has
conducted an initial scoping exercise in thè arèa of fundraising, incorporating proc8ss, procedure.
governance and compliance. No complaints have been received by the Society In relation to
ftjndraising.
Soci¢ty ol Chsmi¢al Industry 10

Trustees, Report Year ended 31 December 2021
FIMANCIAL REVIEW Icontinuedl
Investment Policy and Pertormane•
All funds of the Society not immediat8ty r•quir8d to be used or appli8d for the ordinary purposes
of, or in carrying OUÈ the objects of, the Society an(1 any Pfopety held by the Society. subject to
th8 terms of any Irusl, may bg invested by the Board of Trustees on behalf of th8 Society in any
permitted investment.
The Board may appoint and lerwnin8le the appointment of ir)veslmenl managers upon such terms
and conditions as thèy may from lirne to lime determine. except that no person should be
appointed as inveslmaril manager unless authorised for this purpc)se in accordance with the
Financial Samces Act 2010 or any slalutory modification theraof or r8placamanl thereof.
Under delegated authority from the Board ofTrust8es. admintstrabon of the funds of the Society,
subj8Ct lo the overall authority ofth8 Board, are ovetseen by the Finance, Investments and Audit
Committe8 I'FIAC')- FIAC members lake advice on the investment portfolio and performancè
from an ind8p8ndent advisor, auiller Cheviot Investment Managemgnl, who are also responsible
for the management of the charity's investrnents. They assist the Committee to review th8
investment policy, asset reallo¢alion and risk level. The Committe8 reviewed SCI'S investment
policy in late 2018. The ov8r811 poliy is for a broadly modeiate risk appetite. with balanced
expectations of incomp and gains,
Stjfplus cash is hold in deposit accounts with the Soci8ty's bankèrs. HSBC. The market valu8 of
investmgnls at 310ecember 2021 was £8.433k ￿mpared with £7.578k 8t 31 December 2020.
Incom8 from lisl&d Invest￿ents during the year amounl&d to £194k12020- £166kl representing
an incomè yield of approximately 2.86%12020_ 2.6Qkl. The ng1 gains on the listed investments
in 2021 were £928k12Q20- £348kl. The total retum on tho portfolio forthè yèar lo 31 Decembér
2021 was 14.29h Compared with the benchmark return of 12.3% as per1￿ pUbl￿h0d ARC Steady
Growth Charity Indèx12020.. 7.9% vs 3.5.1.1.
Reserves pollcy and financial posltlon
Part of the charity's net assets is repre5erTted by the net bcrt)k value of SCI'S Snterest in its tangible
fixèd ass8ts. The availability of these assgts is essential lo the d8y-tspday work of the charty and
as such. the value of these assets cannot be regarded as funds that would be realisa￿e with
eas&, in order lo meet future contingencies. As such. an amount equ81 lo the nel book value of
the tangible fixed assets has been separat8d from the charity's general funds and hèld as a
separat¢ designated fund, At the year end, the balance on this fund was £4.385k 12020
£4,419kl.
At 31 December 2021. funds lotslling £2.417k12020- £2.247kl comprk8ed restricted lunds that
must be applied in accordance with the wishes of the donor.
Society of ChemiGal Industry 11

Trustees. Report Year ended 31 December 2021
FINANCIAL REVIEW {wnlinu&d}
Reserves pollcy and finan¢lal posltlon Icontinuedl
FIAC has considèrèd SC5's free rese￿eS requirements and advised on the same lo the charity's
Board. Free resèrv8s comprisa thè general funds of the Society, excluding designated and
restrictèd funds. When setting the reserves policy. FIAC and the Board have giv8n consideration
to the following..
+ Funds being employed lo invasl in tha infrastructure of SCI, specrfically in 2022 around
internal maintenance and a continuèd programme of systems development. Capital
expenditure outlay of £215k is forecast for 2022.
• A prudent fiscal policy should be adopted in order to ensure funds are not unduly depleted
during a period where additional investment is required.
• The tnember5 have a consensus lo ensure the Society preserves tho valu8 of its capital in
line with the long-temi rale of inflallon. In July 2008 FIAC ag￿ed lo maintain a minitHum
level of free reserves li.e. unrestricted general funds which are frèèly availablè for application
towards the gener81 charitable objectives of the charity) at £6 milli(In. The RPI inflation
adjusted v81uè in 2021 is £8.8 million based on an inflation rate of 46.7% ovèr the past fvlelvo
and a ho￿ years.
• A significant proporb"or) of Ihg Society's net 0$s8ts are reprgsgnled by li818d investments.
Such assets are subj8ct to fluctU8tions in market value due to the Inhe￿nt volatility in equity
markets and investment ￿arketS du8 to wider economic conditions. the attitude of investors
lo investment risk, and change5 in sentiment concerning equitiès and within part￿ular
sectors or sub sectus. As such, the reserye requirèment need8 to take account of an
èlement of unpredictability.
At 31 D8cember 2021, the charity held free reserves tolalling £7.64m12020 - £7.24ml. While
the 8¢tual level of free reserv8s is below the desired level, the Iruslees are satisfied with ihe
progress of the increase in free reserves over recent years, taking into a¢¢ount the significant
inveslmenl in the infrastructure in 2019 and the dSsruption associated with the COVID pandemic.
A review of the reserves. initially ￿anned for 2021, is now pl8nned for 2022.
Going eoncèm
Therg is a reasonable expectalion that the Society of Chemical Industry has adequate ￿SourCeS
to continu8 in operational extsten¢e for the I0￿se￿able future. The trustees believe that th8rè a
no material uncertainties that call into doubl the charty's ability lo continue operating as a going
¢on¢em. In making this decAsion. thè tnjstees have taken into consideration the risks and
uncertainties arising from the Coronavirus pandemic and conclude that the charity can sustain Its
operations for a perh)d of at least twelve mor)ths from date of signing these accounts.
Consequently, the financial statements have therefore been prepared on the basis that thè ¢harty
temains a going conc8m.
Society of Ch8mi¢al Industry 12

Trust88s' RÈport Year ended 31 December 2021
FINANCIAL REVIEW l¢onlinuedl
Ralat•d ontitlO8
During 2019 SCI established two Dutch legal entitiès to support and promote SCI'S activities in
Europe post Brexit. SCI Europe B.V. Irégistration no. 8607298131 and Slichling SCI Europe
{8607297951 were both registered on 16th D8cèmbèr 2019 and rèmained dormant lo 31
December 2021.
Funds held as Custodlan Trustee
Th& Society acts as Custodian Trustee for the SCI Benevolent Fund and Rideal Trust. The
financial resuhs of these tharitlès are Consolidated into SCI'S accounts and full accounts for
the trust funds are produced in notè 22 in compliance wf(h Charty Commission guidelines.
SCIBgfteYolent Fund
The object of SCI'S Benevolent Fund is lo provide financAal relief to persons who ar8 or havè been
members of th8 Society and to their spouses, childr8n and dep&ndent$ and to the
dowslwidowers, Ghildren and dependents of deceased members. The assèts as at 31
Decernber 2021 are investments, which amounted lo £146
The Rldoal Tmst
Th& object of the Rideal Trust is thè general advancement of chemical sci8nca and. in particular.
branches relating lo chemisorption, ¢olloid SGieric8, intsrface scien￿, cata￿siS and related
topics. Thè Trust is jointly administered by SCI and the Royal Society of Chemistry. The a¢tivib8s
of the Trust diré¢tty support the overall object ol the Society whKh is lo advan¢e the sciencè of
applied chèmistry and related sciences for the public benefit by providing information, granting
bursaries. awards 8tc. The assets as al 31 December 2021 are investments, which amounted to
£20k.
RISK MANAGEMENT
The trustees pursue a system of risk management through FIAC. the Executive. ond the Board
of Trustees. A Risk Register is in place and 15 regulady review8d throughoul thg year by FIAC.
the Executive and BOT.
The trustees règularly review the high-level risks to which the charity is exposed. in particular
those related to th8 operati¢￿S and finances of the charity and are sati%fied that systems are in
place to mitigate exposure lo the major risks.
The main risks to the Socièty corrtinue to be market related- in particularfrom the potential impact
of op8n 8¢cess on publishing income and the potential volatility in the inveslmenl eamings. The
pot8n1181 loss of income from publishing Is managed by havsng programmes in place lo deliver
income grovrth and appropriate agreements with the publishing partner. The investments are
viewed by FIAC regularly against bènchmarks to determine th& èrf8ctivan8ss ol the investment
strategy. which can then be modified rf required.
Society of Chemical Indu8ty 13

Trustees. Rèport Year ended 31 tJe¢emb8r 2021
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Iruste8s are r9sponsible frjr preparing the Irustees, r8t>ort and a￿oUnt$ in a¢¢ordance with
applicable law and United Kingdom Ace¢xJnting Standards (Unitèd Kingdom Generally Accepted
Accounting Pra¢ticel.
Th8 law applicable lo charities in England and Wales requires the trustees to prepare a¢¢ounts
for each financial year which give a true and lair view of the state of affairs of the charty and the
group and ofthe income and expenditure ofth• charty and the group for that period. In preparlng
these accounts. the trustees are required to..
• select suitablè accounting policies and then apply them consislenly-
obsetve the methods and principles in Accounting and Reporting by Charities.. Stat8m8nt of
Recommended Practice applicable lo charitips preparing their accounts in accordan￿ with
the Financial Reporling Standard applicabl8 in tha UK and R•public of Ireland (FRS 1021-
* make judgements and estimatès that a￿ ￿8$Onable and prudent-
+ state whether appI￿abl0 Unft8d Kingdom Accounting Stsndards have been followed. subject
to any materlal departures disclosed and 8xplain8d in the accounts.. and
prepare the accounts on the going concam basis unless it is inapproprialo to presume that
the charty will continue in operation. The trustees are responsible for ke8ping proper
accounting reGords that disclose with reasona￿8 accuracy at any time the financial position
of the charity and the group and enable them lo ensure that the accounts comply with the
Charities Act 2011. appIl￿ble Charliy IA¢counts and Reports) Regulations and the
provisions of the charity and the group's constitution. They are a150 responsible for
safeguarding the assets of th8 ch8city 8nd the group and henc8 for taking reasonable steps
for the prevention and det•ct'on of fraud and othgl irregularf(195.
The trust88s are responsible for the maintenance and integrity of the charity and the group and
rinancial inlom8tion in¢luded on the charity and the group's w8bsite. Lagislation in the Unf(ed
ngdom governing the prepaTation and diss8mination of accounts may dlffer from legis181ion in
othèr jurisdictions.
Approved by the Iruslees and suned on their t*half by:
Honorary Treasur8r
Approved by the Board of Trustees on.. 18 May 2022
Society of Chemical Industy 14

Indep•nd•nt audltor'$ r•port 31 December 2021
Ind•p•nd•nt auditorfs Y•F)Ortto the m•mbgrs and tru5tegs of So¢i•ty Df Chèmical Industry
Opinlon
We have audited the accounts of Society of Chemi¢al Industry ltha 'parent charity.) including Its
subsidiary Icolle¢tiYely the 'group'l for the year ended 31 December 2021 which comprise the
group stsl&ment of financial activities, group and parent charity balance sheets, group slalemenl
ol Cash fl¢)ws, the principal accounting policies and notès to the accounts. The financial reporting
frameworti that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Repottins Standard 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland, Iunited Kingdom Generally Accepted
Accounting Practicel-
In our opinion. the accounts..
give a true and fair view of the stale of the group's and of the parent charity's affairs as at 31
December 2021 and of thttir in¢ome and expenditure for the year then ended-,
• have been properfy prepared in accordance with Unf(ed Kingdom Generalty Accèpted
Accounting Practice.. and
• have beèn prepar9d in aGcordance byith Ihe requirements of the Charities Act 2011.
Basis for opinion
W8 conductad our audit in a¢¢ordance with International Standards on Auditing (UK) {ISAs IUKII
and applicable law. Our r8sponsibililie5 under those standards are further described in the
Auditor's respr)nsibllilies for the 3udil of the accounts section of our report. We are independènt of
the group in accordance with tha ethical requirerllen15 that are relevant to ouraudil of th8 accounts
in the UK, including the FRC'S Ethical Standard, and we have fuffilled our other ethical
rèsporh5ibililies in accordanc& with thasè requiremgnts. We bdieve that the audit evidence we
have oblain8d is sufficient and appropriatè to provide a basls for our opinion.
Conclusions relatlng to golng ¢on¢em
In audrting the accounts, we have conduded that the trustees. us8 of th8 going concern basis of
accounting in the preparation of the accounts is appropriate.
Based on the work we have performed, we have not id8ntffi8d any material uncertainties relating
lo events or conditions that, individually or collectively, may cast significant doubt on the charty's
a￿lty trj ¢onlinue as a going concem for a pèriod ofal least iwelve months from when the finanrAal
stalemgnts are aulhorised for issue.
Our responsibilitias and the responsibilrf(ies of the trustees with respect to g¢ing C￿e&M are
described in the relevant sections of this report.
Other information
Tha trustees are rest)onsible for the other information. Th8 Othei inf(m181ion comprises the
infomiation includad in the annual report other than the accounts and our auditorfs report Ihereon.
Society of Chemical Industry 15

IndgPgnd•nt auditor's r•port 31 Dèc8mbsr 2021
other Informatlon {conlinuedl
Our opinion on the accounts does not Gover the other infomiation and we do not express any
form of a55uranGe conclusion thereon.
In connection with our audit ofthe accounts, our responsibility is lo rèad thg Othèr information and,
in doing so, consider whether the other informatK•n is materially in¢onsistgnl wilh the accounts or
our knowledge obtained in the audit or otherwise appears lo be materially misstsled. If we idenltfy
such material inconsistencies or apparent material misslalements. we are requirad to deleimine
whether there 15 a material misslalement in the accounts or a matèrial misstatement of the other
information. If, based on the woth we have perfomied. we conclude that there is a material
misstatamanl of thi$ oihgl information, we arg requirèd to r8POrt that fact.
Wè have nothing lo report in this regard.
Matters on whieh we are required to rep¢)rt by exception
Wè h8ve nothing lo report in respect of the following matters in rèlation to which the CharTties Act
2011 requires us to report lo you if, in our opinion-
• the information given in the trustees, report is inconsistent in any material respect with tha
accounts., or
sufficiont accounting records have not been kept by the parent charity,.
the parent charty aCc￿nts are not in ag￿ernent with the a¢¢ounling re￿d$ and retums; or
we have not received all tha infom)alion and 8xplanations we require for our audit.
R•sponsibilitigs of tryst99
As explained moro fully In th& statemenl of Irustges, r8sponsibllities. the trustees are responsibl8
for the preparatson of the aecounts and for bèing satisfièd that thèy give a true and fair vi8w. and
for such internal control as the trustees determine is necessary to enable the preparation of
accounts that are free from material misststemenl, whether due lo fraud or error.
In preparing the accounts. the trustees are responsible for assessing the group's and the parent
charty's ability lo continue as a going concern. disclosing, as applicable, matters related to going
¢on¢em and using the going concern basis of accounting unless the INstee5 either intend lo
liquidate the group or th8 parent charity or to ￿ase operations, or have no realislK alternab.ve bul
to do so.
Auditoes responsibilities for tho audit of th• accounts
Our objective5 are to obtain reasonable assurance about whether the accounts as a whole are
f￿e from material misstatement. whether due to fraud or erTor, and lo issue an auditor's Teport
that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a
guarantee that an audit conducted in accordance with ISAS {UKI will alway5 delecl a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material rf, individually or in the aggregate. they could reasonably be expected to influenc8 tha
economic decisions of usets tsken on the basis of these accounts.
Society of Chemical Industry 16

Ind•p•nd•nt auditor's report 31 Dècèmbèr 2021
Audltorfs respons1blllt1￿ ftir tho audlt of tho accounts {conlinuedl
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above. lo delect material
mi55tstement8 in respect of irregularilies, including fraud. The extent lo which our procedurès are
capable of detecting irregularities, in¢luding fraud, is delai18d below.
How the audrf considered capable of detecfvng inpgulanties including fr8ud
Our approach to identifying and assessing the risks of material misstslement in respect of
irregularities. induding fraud 8nd non4ompliance with laws and règulations. was as follow5..
• The engagemgnl partner ensured that the engagement team CO1￿ctIvelY had the appropriate
competence, capabilitl8s and skills to identrfy or recognisa non-complianc8 Wlth applicable
laws and rogulations.,
• We identified laws and regulations applicabl8 to the Charity through discussions wsth key
management and from our knowledge and experten￿ ofthe charity sector..
• W8 IIKused on specific laws and regulations which we considered may have a dire¢l matsrial
effect on the accounts or the activities of the ¢harily. These included bLrt werè not limit8d to
th& Charilies A¢1 2011, Accounting and Reporting by Charf(ies.' Slatgmenl of Recommended
praCt￿e applicable to charitiès praparing th8ir accounts in accordaneè with the Financial
Reporting Standard applicabl8 to th8 Unitèd Kingdom and Rapublic of Ir8land IFRS 102)
{effeclive 1 January 20191.. and
We assessed the extent of compliance with the laws and regulations id8ntlfie(l above through
making enquiri8s of kay managèment and review of minutes of trustees, meetings.
We assessed the susceptibilty of the charity's accounts to material misstatement. including
obtaining an undèrstanding of how fraud might occur, by..
Making enquiries of kèy manag8m8nt as lo Whe￿ they considered there was susceptibility
to fraud, their knowl8dga of actual. suspe¢lgd and alleged fraud,. and
• Consid8ring the internal controls in place to rniligate risks of fraud and non-compliance with
laws and regulations.
To addr8S8 the tbsk of fraud through management bias and override of controls. we..
• Performed analytical pr￿ed￿re$ lo identify any unusual or un9xpected relati￿ShIps-
• As8essed whether judgements and assumptsons made in delem)ining the accounting
estimates were indi¢aliv8 of potent￿ bias,. and
• Invesllgated the rationale behind significant or unusual transactions.
Society of Chemical Industry 17

Independent auditorfs r•port 31 December 2021
Audltof s respgnsibiliti•s for the audtt of tho a¢¢ounts Icontinuedl
In responsa to th8 risk of iffegularities and nDn-compl1an￿ wrth laws and regulations, we
designed PTocaduras which includ8d. but wer8 not limited to-.
Agreeing accounts dI￿lOSUreS to underfying sUPPOrtir)g d￿￿￿entatIon-
+ R8ading the minutes of meglings of trustees- and
• Enquiring of as to actual and wtential Iitigalion and claims.
There are inherent limitations in our aud(t procedures d8scribed above. The more removed that
laws and regulations are from financial transactions. the less likely il is that we would become
aware of non-cornpliance. Audits'ng Standards also limit the audit prDC8dures required lo identify
non-compliance with laws and regulations lo enquiry of key management and the inspection of
regulatory and legal Correspor￿enCe, if any.
Matèrial misstatements that arise due lo fraud can be harder lo delecl than those that arise from
error as thay may invofve delib8r818 COnG8almenl or collusion.
Afurther descriplK)n of our respOnsi￿.1111eS for the audit of the aCC￿jTrts is located on the Financial
R8porting CounGiI's website at www.frc.org.uklauditorsresp0r￿lblliIle$. This descriptr'on forms
part of our auditor's report.
Use of our report
This r8P()rt is made solety to Ihe charity's trustees, as a body. in accordance with section 144 of
the Charities Act 2011 and wrth regulations made under section 154 of that Act. Our audit wixk
has been undortaken so that we might stste to the charity's trustees those matters we are rèquired
to slate to them in an auditoes rèport and for no other purpose. To the fullest extent permittad by
law. we do not accèpt or assumè r8sponsibility 10 8nyone other than the charity and the charty's
trustees as a body, for our audit work. for this report. or for the opinions we have formed.
Buzzacott LLP
Statuiory Auditor
130 Wood Street
London
EC2V 6DL
Date.. 29June 2022
Buzza¢ott LLP is eligible to act as an auditor in temis of section 1212 of th8 Companies Act
2006.
Socièty ol Chèmical Industry 18

COn￿lidated statem•nt of ftnan¢lal activities Yèar to 31 December 2021
2021
Tvtsl Unr8StriCbJ Restrtcted
nds
funds
funds
£'ODO
£'ooo
£'ooo
2020
Total
funds
Unre8lrl¢iod Rostrlctthd
fund$
funds
£'ODO
£'wo
Income fr(•n'.
Charita￿? xtivI￿8s
Olhgr Irthling aclmlies
Inwesbnents
Grèni Inttom& IQRSI
Other imome
Total Incorn
2.009
285
172
2.D09
255
225
22
52
2.184
2.184
146
45
191
79
2,828
45
2.873
Expenditure
Raisiw funds
Charilablg actlvlll85
TDtsI expendSlur•
93
2,758
2051
93
2.88T
2.960
88
77
77
3.033
3.121
3.044
Nèt èxp8ndlbJrè btslorÈ
galn8 and1088è& on
invtstmÈnts and transfers
1561
13671
12161
1321
12481
Yransfgrs
14
Net expenthturo befor8
gains and losses on
investrnents
P251
1367)
12241
1241
12481
Nai gains on the rovaluatlon
and dist¥)$81 of li%ted
knv651Jnents
13
212
301
395
Ngt Incom8 and nèt
amènt In fund&
10
35
170
529
77
70
147
Reconclllatlon of funds:
FurKI balances broughl
forw8rd
al 1 January
Fund balar￿ carried fC￿Ard
at 31 December
11.662
2,247
13,9)9
11.585
2,177
13,782
12.021
2.417
14,438
11.662
2,247
13,￿9
All of the group's a￿1vIlle$ derived from continuing operations during the above tsvo financial
periods.
The group has no recognised gains and Ioss98 Other than those shown in the consolidated
statement of financial activities.
Society of Chemical Industry 19

Balanv $h*ets 31 December 2021
Group
2021
£'ooo
Group
2020
£'ooo
Charlty
2021
£'ooo
Charity
2020
£'ooo
Noles
Flx•d assots
Tangiblè a$set5
Investrn8nts
12
13
4.385
8,433
11818
4,419
7.578
11,997
4,385
8,433
12.818
4,419
7.578
11,997
Current assets
DebtDrs
Cash at bank and in hand
14
928
1A58
2,386
925
1,913
2.838
935
1,435
2,37D
984
1,841
2,825
Credfdors.. amounts falling due
within one year
Net ¢urrent asse18
15
16621
1.724
18391
1.999
16461
1,724
18261
1,999
Total assets less ¢urrent liabiliti83
14,542
13.996
14.542
13,
Creditors.. arnounts falling due
after rnore th8n one year
16
11041
1871
11041
1871
Total nel assèt$
14.438
13.909
14,438
13.909
The funds of tha group and ¢haflty:
Unre5tric18d funds
D&signatsd funds
General funds
17
4.385
7,636
12.021
2.417
14,438
4.419
7.243
11,662
2,247
13,909
4,385
7,636
12,021
2,417
14,438
4.419
7.243
11,662
2,247
13,909
Restricted fund$
18
Approved by the trustees and signed on th8ir behalf by=
&- S)
Honorary Tre8sureT
Approved by the Board of TrUst￿S on.. 18 May 2022
Society of Chemical Industy 20

Con$olldated statement of cash flows Year to 31 December 2021
2021
£'DOO
2020
£'ooo
Notes
Ca8h IIow8 Irom operatln9 a¢tlvltlÈs'.
Ngt cash lused inl provided by operating activities
14381
117
Cash fluw$ frr*rn inv•51in9 acbviti85:
Inve5ttnent incoffle
Purch8s8 of tangible fixed assets
Proc8eds frorn the disposal of invesiments
Purchase of inve5trnen15
Net ca$h provlded by lused Inl Investlng actlvilios
225
12831
1,047
11,1051
1116}
191
11371
1,332
19361
450
Change in cash and ¢agh equlvalents in th• year
{5541
567
Cash and cash equivalents at 1 January
2,085
1.518
Cash and ¢a$h 9qu1va￿nt$ at 31 D8¢8mb8r
1,$31
2,085
N¢t•s to the statement of cash flows for th8 yèar ta 31 D8cèmb•r.
A R•conciliation of net incom• to not eash (US￿ inl providèd by op¢r•ting octivitias
2021
£'ooo
2020
£'O(K)
Net In¢oTne la$ perthe statement of finandal a¢tl¥ltle$l
Adjustments for:
Depreoation charge
Loss on the disp0581 of fixed assets
IGain51 on inv8slments
Inve8tm8nl in￿)rne
Ilncr&as81 ￿e¢￿aSe in debl015
IDe¢reasel inCrtra￿ in creditors
N•t Cash (used Inl pmvlded by op•rnlin9 activitlO5
529
147
316
301
18
13951
18961
12251
131
11601
14381
132
10S
117
Analysis of chang*s in net debt
2021
£'ooo
2020
£'ooo
Cash al bank 8nd in hand
Cash held by investtnent managers
Total cash and ￿$h 0gul¥aients
1.458
73
1,531
1.913
172
2.085
So¢iety of Chgmi¢81 Industry 21

Principal accountin9 FJollcl•s 31 December 2021
Th& principal accounting policies adopted. judg&menls and key SoU￿S of estimation uncertainty
in the p￿paratiOn of the 8ccounls arè laid out bèlow.
Basis of prnparatlon
These accounts have been prepared for the year to 31 December 2021 wth comparativ8
information in respect of the year to 31 De￿mber 2020. They are presented in sterling and are
rounded lo th8 n&are8t thousand pounds.
The accounts have been prepared undér the historical Cost convention with r(ems reccyJnised al
cost or transaction value unless otherwise stated the ￿leVant a¢￿UntIng policies b81(w or the
notes lo these accounts.
The accounts have been prepared in accordance wilh Accounting and Reporting by Charilw.
Slalemenl of Recommended Practice applicable lo charities preparing their aGcounls in
aGGordanGe with the Financial Reporting Standard applicable in the Un((ed Kingdom and Republlc
ol Ireland {FRS 1021 (Charities SORP FRS 102}. the Financial Rewrting Standard applicable In
the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The charity ccfflstitut8s a public b8neffit entity as deffin8d by FRS 102.
Basls of consolldatl¢n
The consolidated statement of financial activities and group balan￿ sheet consolidate thè results
of SCI and its who11y owned subsidiary company. SCI Business Limited, groups and applicable
trust funds, made up at the balance sheet dale. The results arg consolidated on a line-by-linè
basis.
The r85uIts ofall the groups were hjlty incorporated into the SocAeVs aCc￿nts with the exc8Ption
of the Macro Group which 15 jThnlty administered with the Royal s￿Iety of Chemistry.
The charity is taking advantage of the concession lo only provide a consolidated statement of
nancial activities 8nd inGome and expenditure account as permitted by the Charities SORP FRS
102. No sep8rate stslement of financial activities ha8 b8en presented for the charity alone as
P8rmitted by SeGtion 408 of the Companies Act 2tK)6.
Crltl¢al ac¢ountlng estimates and area$ of judgom•nt
Prgparab'on of the accounts ￿qUireS the trustees and managem8nl to make svjnificant
judgements and estimates.
The items in the accojnts where these judgements and estimates hav8 been made indude:
• the estimat8s of th8 useful aconomic lives of tsngible fixed assets used to determine the
annual d8preciati1￿ charge..
* the assumptions adopted by the trustees and management in determining the value of any
¢Jesignalw)ns required from the charity's general unrestricted funds..
Society of Chemical Industry 22

Principal accounting policies 31 Decemb8r 2021
Critical accounting estimates and areas of judgement Icontinuedl
• the basis on which support costs have been allocated across expenditur8 headings., and
• assessing future income and expenditure flows for the purpose of assessing going con￿rn
Isee below).
Asse$sment of going conc•rn
The Iruslees have assessed whathar th8 us8 of tha going concern assumption is appropriate in
preparing these accounts. The trustees have made this assessment in respect to a period of one
year from the date of approval of these accounts.
The most signrfi¢ant areas of judgement that affect items in the accounts a￿ detailed above.
With regard lo the next accounting perSod. the year gnding 31 December 2022. the most
significant arèas that affect the carying value of the assets held by the charity are the level of
investment return and th& performance ol the investment markets.
Income recognition
Income is recognised in the period in which th8 chariiy and thè group hav8 8ntillement to th8
in¢ome, th8 amount of income can be measurgd reliably and il is probable thal the income will be
received. 1t 8xcludes VAT where charged.
Income is deferred On￿ when the charity and the group has to fulfil conditions beforè becoming
entitled to it or whèrè the donor or funder has specified that the income is lo be expanded in a
future accounting wrlod.
Income comprises donati￿)$. 18ga¢ies. grants. income from charitable aclivitses including
conferences and events. publications and membetship subscription,. income from other trading
activities including the leth'ng and lic8nsing of the th8rity's premise5,' and investrnent incom& and
interest receivable.
Donations are recognised when th8 charity has Confirmati￿ of both the amount and settl8m8nt
dale. In the event of donations pledged but not received, the amount is accrued for where the
rȢeipl is considered probable. In the ev8nt that a donation is subjed to condttions that requir8 a
level of performance before the charity is enlilled to the funds. the income is deferred and not
rerngnised until eitherthose ¢ondilions are fully mel, or the fulfilment of those conditions is whol
wf(hin the contrd of the charity and it is probable that those conditions will be fulfilled in the
reporting period.
Legacies are ir￿lUded In the ststement of financial activities when the charity i8 8ntiled to the
legoGy, the 8xe¢ulors h8V8 established that there are sufficient surplus assets in the estate lo pay
th818g8cy, and any condTtions attached to the legacy ar8 Wlthin tha contrd of tha tharity.
In accordance with the Charities SORP FRS 102 vdunleer time is not recogni58d.
Grant funding is recognis8d as and when the work is cornpleted and the grant conditions are
fu1fi118d.
Soci8ty of Chemical Industy 23

Prfnclpal accounting policie$ 31 December 2021
Incomo re¢ognlilon l¢onlinued)
Incorne from conferences and èvents arè r8cognis8d irb the financial perioj in which the
conference or event was hostad.
Incom8 from publications and royalties ar8 recognised in the pèriod in which thg royalties w8rè
accruad or tha publications sold.
Annual membership subscriptions are recognised as income on an accnjals basis applicablè to
the membership period. and part of the subscription applicable lo the following year is carried
forward as deferred income. Life membership can be purchased based on 10 years standing and
aged 60 or over on a sliding scale. depending on age. To refle¢l the cc6ts of providing future
membership benefits to such members, a provision is calculated muV£iplying the annual
membership subscription by the estimat&d numb8r of y8ars that the benefits will be provided for
e8Gh life member.
Income derived from thelotting and licensing of the charty's premi8es, is re¢ognised in the period
lo which the letting or lic8ncing relates. Rent free period income is re¢ognis8d as a deferred
eblor which is written down over the lease perlod or the lease break clause dale. whichever is
Dividends are recognised oncethe diviijend has been declared and notification has been re￿iVed
ol the dividend due.
Interest on funds held on deposit is included when receivable and the amount r£n be measured
rèliably by the charity- thi5 is normalty upon notification of the intar8st paid or payablg bythe bank.
Expenditur• rocognltlon
Liabilities are recognised as expondilure as soon as Ihgr& is a legal or conslruclwe Obl￿atiOn
committing the charity and the group to make a payment to a third party. rt is probable that a
transfer of economic benefits will be requir8d in s8ttlemènt And the amount of the obligation can
bè measured reliably. Irrecoverable input VAT is included in the expenditure. Expendf(ure
cDmprisès direct costs and support Costs. All expenses. including support costs. are allocated or
apportioned lo Ihe applicable expenditure headings. The classification bofvloan a¢tiviUes is as
follows:
• Expendf(ure on raBing funds includ8s all 9xpendilure asso¢lated with raising funds fix the
charity and the group. This includes the fees payabl8 to tha invèstment man8ger in
connection with the management of the charit*s listed investments. the costs in connection
wtM the management and upkeep of th8 charity's prèmises, and other direct ¢osts
associated wth th8 charity's other trading activities.
• Expendlturg on charitable activities comprises expenditure in support of the charity the
group's primary charitable purposes as described in the truslegs. r8POrt. This includes the
costs associated wf(h the servicing of members, costs in connectlon with hosting events and
conferences for the Society's beneficiaries, costs asso¢ialed wth the production of
publications, grants and awards lo individuals for endeavour in the fields of science,
engineering and technology as well as bursaries and s¢holarships.
Society of Chemical Industry 24

Principal accounting polici•s 31 D8c8mb&r 2021
Expendituro recognltlon Icontinuedl
Grants are awarded from various restricted funds by the Early Career5 Committee to successful
Bpplicants. Each fund has ils own particular criteria. They are accounted for in the statement of
financial 8Ctiwlies in the year in which they are awarded.
Ex￿ndItUre on charitable activities includes both costs which can be directly attributed to the four
key activities as well as an allocation of shared support costs (see below).
Allocatlon of support and governance cost$
Support Costs represent indirect charitabl8 gxpendttur8. In ordèrto carry out thè primary purposes
ofth8 charity and the group it is necessary to provide support in the forni of 8 finance function. IT
and human resources function. and facilities management support.
Furthermore, support costs include gov8rnanGe costs. These comprise the costs involving the
public accountability of th8 charty and the group IinGluding audit costs) and costs in respect lo its
compliance ￿￿th regulation and good praclie.
Support costs including govgmance costs are allocated lo the various categories of charitable
expend(£ure on an appropriate basis such as the number of stsff Serviced in èach area, lloor
space, or in proportion to dirgd costs. The basis of 8110¢81ion is further explained in note 8 to the
accounts.
Tangible fixed assèts
Tangible fixed assets costing 18SS than £1.000 are not capitalised and are wrrtten off in Ihg year
of purchase.
T8ngible fixed assets which ar• capitalised a￿ induded al cost (including any incidgntsl
expenses of acqui5ilionl. stated at cost less accumulated depreGialion.
Depreciation is provided at rates calculatèd to WTite off the cost less estimated residual value of
each asset over its expected useful lif8. as follows-
• Long leasehold propety
by equal instalments over the life of the18as8
• Leasehold improvements
ten to ￿￿nty years on ¢05t
• Fumilure, IT & other equipment
three to five years on cost
Assets under the Gourse of construction ar8 not daprg¢satg¢J until the asset is complete and
available for use.
The propety is subject lo an annual impairment review.
So¢iety of Chemical Industry 25

Prln¢ipal accounting Policies 31 D8c•m￿r 2021
Inv•stm•nts
Listed Investments are a fomi of basic financial instrument and are inibally r8cognised at theii
transaction value and subsequenlly measured at th8ir fair valu8 as at the balance sheet date
u￿rtg the closing quoted markat pric8.
As noted above, the main fomi of financial risk faced by the th8ri1y and the group is that of
volatility in equity markets and investment markets due to wider econom￿ conditions, the attitude
of investors to investment risk, and changes in sentiwnent conceming equities and within particular
sectors or sub sactors.
The Society'8 investment in its wholly owned trading subsidiary is induded in the charity balan
sheet al wsl.
Debtors
Debtors are recognisgd at their settlement amount, less any provision for non-recoverability.
PrepaY￿entS are valuèd al the amount prepaid. They have been discount8d lo the present value
of the future cash receipt where such dis¢ounkn"ng is material.
Cash at bank and In hand
Cash at bank and in hand represents such accounts and inslrumènts that are availabl& oft
demand or have a maturity of less than thre8 months frcm the date of acquisition. Deposts for
more than three months but1Èss than one year have been disclosed as short t8mi dgposits. Cash
placgd on deposit lor rnue than onè year is disdosed as a fixed asset investment.
Creditors and provisions
Creditors and provisions are recognlsed when there is an obligation at the balanc8 sheet date as
a result of a past event. il is probable that a transfer of economic benefit will b8 required in
settlement. and the amount of the s8ttlement can be estimated Teliably. Creditors and provisions
are recognised at the amount the ch81ily and the group anticipate it will pay to settle tha debt.
They have been discount8d to the present value of the future &ish payment Whe￿ such
discounting is material.
Fund accounting
Restricted fvnds compris8 monies raised for, or their use restricted lo, a $peGific PUTP05e, or
contributions subject to donor imposed conditions.
Designated funds comprise monies set aside out of unreslrided general funds for specific future
purposes or projects.
Unrestricted general funds r8pras8nl those monies which are freely available for application
towards achieving any charitable purpose that falls within the charity's charitable obj8ctive5.
Society of Chemical Industy 26

Principal a￿oUnting pollci•s 31 De￿mbar 2021
Leasod asset5
R8nla55 applicable to operating leas85 where substantially all of the benefrts an¢Y risks of
ownership remain with the lessor are charged to the statement of financial 8clivities in equal
annual amounts over the 5ease term.
Forglgn ¢urr•n¢l•s
Assets and li8bilrties in f¢xeign currencies are translated into sterling at the rates Df 8xchang8
ruling al the balance sheet dale. Transactions in foreign currencies are translated into sterfing at
the rale of exchange ruling at the date of th8 transaction.
Monetary assets and liabilities denominated in fo￿l9n cUr￿nCleS are translated into stèrting al
the rat8s of exchange ruling al the balance sheet da19 or if appropriate at thp forward contract
rate. Al drfferences are taken lo Incom8 and expenditur8 through tho stsloment of financial
activities.
Taxation
SCI is a UK registered charity and. therefore, is not liable lo income lax or COTporatlon lax on
income derived from 115 charitable activities. as it falls within the various exemptions availat￿e to
gislered charfties.
SCI Businass Limited passes all it5 taxable profi15 as Gift Aid lo Ihe Society in accordance wrth
an agreed Deed of Covenant.
Cuslodian arranggrnents
The Society acts 8$ Custodian Trustee for the SCI Benevolent Fund and Rideal Trust. The
ffinancial results of Ihoso iwo charities are consolidated into SCI'S accounts and full accounts for
the trust funds ar8 producèd in note 22 in cornpliance wth Charity Commission guidelinès.
Flnan¢ial instruments
The Gharity only holds basic financial instwmenls as defined in FRS 102. The ffinancial assets
and financial liabilities of the charity and th8ir measurement b85is are 85 follows:
Financial assets
othgr debtors arg basic financial instruments and are debt instruments
measured at amortised cost. Prèpaymènts are not financial instrurnenls.
Cash at b8nk- classrfied as a basic financial instrument and is measured al face value.
Financial liats-lilies- accwals and other creditors are financial instruments. and are measured al
amortis$d cost.
SIKiety of Chemical Industry 27

Notes to th• accounts 31 Decamber 2021
1 Contributions from volunteer5
Mèmbars ol SCI. its trust8ès, committees and many other voluntèèrs make major practical
contributions to SCI'S mèètings. publications and other op&r81ions as well 8S to tts overall
gov8manca. Tha trusteès consid9r that there is no objecbvg way of putling a financial value of
this effort and therefore. in accordance wilh the guidance provided in the Charities SORP FRS
102, the value of volunteer lime not iecognised in these accounts. However, Trustees wish to
record their gratitud8 to thÈsÈ volunteers land in many ¢8ses Iheii employ8rsl for this
onsiderable and essential contribution.
2 Income from charltable actlvltles
Un￿tr￿ted fvnds
2021
2020
£'ooo
£'ooo
Conf8rences
Publi¢ats"cns
Member5 5ub5uiptions
165
1,681
163
2,009
89
1,943
152
2,184
3 Income from olh9r tradlng activities
Unr&stricted funds
2021
2020
Total
Total
funds
funds
£'ODD
£'ooo
Commercwl trdding 0￿ratiOnS
Letting and Iic8n8ing of prèmises
24
261
285
66
342
408
4 Income from Inv•stmènls
2021
Total
fund5
£'ooo
U￿reSt￿led
fund8
£'ooo
R88tricted
funds
£'Doo
Incom8 Irom li8ted investrnEnts
Inieresl r8ceivable
2021 Total funds
172
225
172
225
2020
rot81
fvnds
￿n￿$tricted Restrided
fvnds
funds
r(X)O
Income Irom lisl8d inv8Stm&nts
Int8r8St rec8jv8ble
2020 Total lunds
143
45
188
14
45
191
s￿lety of Chemical Industry 28

Notes to thè accounts 31 December 2021
5 Expendltur• on ral$ing funds
Unrestrictèd fund8
2021
2020
£'ooo
£'ooo
Commercial trading cost5
Investment management cosls
56
32
88
93
6 Exp•nditure on charltabl• actlvltles
2021
Total
funds
£'ooo
Un￿$tn¢ted
lund5
£'ooo
Restricted
funds
£'oDD
Conferences
Direct ¢osts
Support Costs (note 81
163
184
347
163
184
347
Publications
. DI￿¢t costs
. Support costs Inote 81
305
225
530
305
225
530
Membarship actiY1ti88
. Direct cosis
. Support Costs (note 81
1,011
805
1,818
805
1.816
Aw8rds, bursarigs and scholarships
Gr8nls p8yable (note 71
. 0lh8r dire¢t wsts
. Suprx)rt costs (note 81
109
109
65
65
65
174
109
2021 Totol fund5
2.756
109
2,867
So¢ioty of Chemical Industry 29

N¢>tes to the accounts 31 December 2021
6 Expgndlturg ¢)n ¢harltabl• a¢tlvitles Icontinuedl
2020
Total
fund$
E'ooo
UnrgstriG¢od Restri¢tod
funds
lund$
£'ooo
£'ooo
Conferences
. Direct Gosls
Support costs (nole 81
201
193
394
201
193
394
PLtblic81ions
. Direct cost&
. Support costs (note 8)
341
2T8
619
341
278
619
MwTrbgrship acElviEIg8
. Direct ¢￿ts
. Support costs {not• 81
1,101
802
1.903
1,101
1.903
A￿1￿5. bvrsariss and scholarships
Grants pa￿able (nol8 7)
. Dther threct Gosls
. Support costs (note 6)
77
T7
39
40
39
177
77
2020 Total funds
2,958
77
3,033
7 Grants payable
2021
£'ooo
2Q20
£'ooo
Awards. bu￿arleS and 8cho18rships to individu818
77
2021
Mumber
2020
Numbpr
Grants payable to Indhlduals comprlsed:
Awarijs of £1,000 or more
Awards of up to £1,0(K)
Total number of grants awarded
13
21
10
Grants which have bgen agreed inlgmally. bul forwhi¢h no legal or construclive obligation exlsted
al 31 Decernber 2021 and thus not accrued in these accounts totalled £nil12020 - £nill
Society of Chemical Industry 30

Notès to the accourts 31 D￿rnber 2021
8 Support costs
Awatds.
bLwsaries
Memb2r-
Pu
Irations
stholar-
ships
£'ODO
Totsl
2021
£'ooo
Basis of
all￿atiOn
feren￿5
activthes
È'ooo
£'o(
Financè
IT and Human Rasourcas
HEaJ
Executwe Offi
Head count
Facihtie5 Managernwl aThJ sh8￿j Floor space
Premises
ènd
Cost
328
43
133
47
12
count
Cost
78
74
443
31
1,279
Gove[nat￿￿o5￿ IrK)19 91
2021 Tolal
21
805
184
225
65
bu￿?11p8
anLI
shlp stholar-
8CINitle$
Tole
2020
Basi5 0
*srenc*s
Fh78rK&
Ir8nd R&wuThs
Execthwe Office
F8ciNtles ￿￿￿&￿andsh￿￿d RoorspaG8
Premises
hea
ount
Cost
Cc*St
62
13
34
105
17
337
45
117
529
76
104
276
27
Govern8nGe costs o)
2020 rrtal
40
1.312
193
278
39
9 Govemance costs
Unreslricl8d funds
2021
2020
£'ooo
£'ooo
Audilorfs rernuneration
current year
prioryear
Tru51ees' expenses
Leg81 and professi¢M81 fees
16
15
21
31
40
10 Net l•xp•ndltur¢l and net movement in funds
This is stated after charging=
2021
£'ooo
2020
£'ooo
Audito¢s remuneration
Statutory audil
- other seNic
Depr8ciation
Operating lease rentals
19
15
316
301
So¢iety of Chemical Industy 31

Notes to the accounts 31 08camber 2021
11 Staff costs and remunaratlon of k•y managemont personnel
Staff costs during the year were as follows..
2021
£'ooo
2020
£'ooo
Wage5 and salaries
Soci81 set￿ritY CO515
Other pension costs
Staff r8Struclurino Costs
Other
1,252
107
97
1,410
119
106
15
13
1,663
12
1,468
A salary sacrifi¢& pension scheme was introdu¢ed during 2012. Under the scheme staff members
can choose to sacrifice part of their gross Salary. The amount sacTificed is paid into the individual's
pension plan directly by SCI. togèther wtth the asswiated employer's national insurance saving.
The average numbei of efftployees during thè year. analysed by function. was as follows..
2021
Numb•r
2020
Number
Conferences support
Membetship support
PublicHtions support
Administrabon and 8UPPOrt
13
15
10
12
36
Of the tgtal average monthly number of employees, 2312020- 291 wère full time and 7 were
part time12020- 71.
The number of employees whose remuneration was £6D,000 or nM)re were as follows=
2021
Numl>gr
2020
Numbgr
8etweeTr £60,￿O- £TO.000
Between £70.¢X>O- £80.000
Bett¥een £110,000- £120.000
The key management personnel of the charity in d)arge of directing and ¢onlrolllng the charity
and the group on a day-to-day basis comprise the trustees and the Chi8f Exaculive Officer. The
total remunèration linGluding employer's national Snsurance and employer p8nsion Gonlributionsl
and on-costs of th& key management personnel for the year was £164.58412020- £158.3351.
None of the Iruslees received any remuneiation during the year12020- £nill.
Society of Chemical Industry 32

Notss to th• a¢¢ounts 31 December 2021
12 Tangibl• fix•d assgts
Assets in
the course
of
Construction
£'ooo
Long
leasehold
p￿rnIses
£'ooo
Leasehold
Improve-
ments
£'ooo
FumibJre. IT
& othèr
equipmeni
£'OOD
Total
£'ooo
Group and Charlty
Cost
At 1 J8nu8ry 2021
Addltlons
Transfe
Disposals
At 31 December 2021
2,100
70
33
1691
1.503
105
65
171
1,666
7,073
283
{81
7.348
3.400
2,249
33
O•prociatlon
At 1 January 2021
Charge for the year
Released on di5P05&1
At 31 Decernber 2021
753
25
830
132
1,071
159
171
1.223
2.654
316
778
962
2,963
Not book value
At 31 December 2021
At 31 December 2020
2,622
2.847
1,287
1.270
443
432
4.385
4,419
70
13 Inv•stm•nts
2021
£'ooo
2020
£'ooo
Group and Charfty
Llsted inv&stment8 al market v•5ue
Mark8t V81u8 at 1 January
Additions at cost
Disposal proceeds
Reali$ed gains11055esl
Disposals at opening book V￿￿e
Unrealisod gains
Market value 8131 December
7M06
1.105
11,0471
61
19861
835
8,36
7.407
936
11,3321
1391
11,371
434
7,406
Cash held by inv051rnent manager tor ￿.1￿v&strne￿t
73
8.433
172
7,578
Historl¢al cost of Ilstod Inv•stments..
6.780
At 31 December, listed investment at market value comprised the following=
2021
£'ooo
2020
£'OQD
Fixed incorne
Equiiies
ternatives
1,072
5,360
974
7.406
6,119
1,201
8.360
Society of Chemical Industy 33

Not•s to the accounts 31 December 2021
13 Invostmgnts l¢onlinuedl
Al 31 December 2021 listed investments included no individual holdings deemed material when
compared with the ovèrall portfolio valuation (including cash held by the investm&nt manager) as
of that dale12020- no holdings deemed maleriall.
In￿Stment in subsldlary
SCI owns 100°/o of the shar8 capital of SCI Business Limited. a company in¢ortx>raled in England
and VVa19s, Company Registration Numb&r 02994541. The investment in the subsidiary is held
at cost on the charity's balance sheet.
The main aGtwities of the company are advertising in SCI'S publicatsons and the hiiing of meeting
rDDms. The Gompany donates 011 its taxable proffils lo SCI under the Gift Aid schème. The net
assets of the subsidiary at 31 Dec8mbÈr 2021 are £100 represented in full by the share capitsl
owned by SCI.
A summary of thè subsidiary's financial results for the year is provided below..
2021
£'ooo
2020
£'ooo
Sales
Adverb$ing in Ch8rniStry and Industry
Room hire sssociated services
22
24
72
74
Cost5 Ilncludlng SCI 8ory1¢è charg881
Advetbsing in Chemistry and Industry
Room hire and associated services
Accounting and general adrnini5tratlDn
15
26
35
Profrt forthe year b•for8 Gift Ald
Gift Aid to SCI
39
1391
Net profit for the yoaf
A summary of the subsidiary's financial p05ilion as al 31 December is provided below..
2021
£'ooo
2020
£'ooo
Balance Sheet
Current assets
Current liabilities
Net as$otS
40
1401
82
1821
Represented by..
Share Cgpital
Profit 8nd loss account
Society of Chemical Industry 34

Not•s to th• a¢¢ounts 31 December 2021
14 D&btors
Group
2021
£'ooo
Group
2020
£'ooo
Charlty
2021
£'ooo
Charity
2020
£,￿)0
Ttade deblor5
Afflounl due frrm subsidiary undertaking
Other d&blors
Prepaymènts and accrued ill￿rne
120
100
24
94
T17
935
113
95
717
928
751
925
751
15 Credltors.. amounts falling due within one year
Group
2021
£'ooo
Group
2020
£'ooo
Ch8rity
2021
£'ooo
Chanty
2020
£'ooo
Trade creditors
Taxes and social SeGurity
Li￿nSee rent deposits
Other creditors
Deferred incomg (see below)
57
43
66
289
57
249
178
839
57
66
57
236
178
826
327
227
662
311
227
646
Deferrod lft¢ome
Def8rrèd inwme relates to annual subscriptions received in advan¢8 from SCI'S members.
income from corporate partner agreements covering years, rent invoiced in advance, income
re￿1Ve￿ in the y8ar for confer8nGes taking place next year and royalties relating to Scl'sjournals
invoiced in advance. Movements on thè dafèrrèd income balance during the yearwerè aslollows..
Group
2021
£'ooo
Group
2020
£'ooo
¢harfty
2021
£'ooo
Charity
2020
£'ooo
Deferred incorne at 1 January
Amounts rdeased lo inco
Cash rece¢ved in advan￿ during thg year
Deferred incorne at 31 D8cember
178
11581
207
227
339
13221
161
178
178
11581
207
227
339
13221
161
178
16 Creditors: amounts falllng due aft&r mom than one year
Group
2021
£'ooo
Group
2020
£'ooo
Charity
2021
É'ooo
Charity
2020
£'ooo
Licensee rent deposits
Memb8Tship income
Conference incorne
Lifo cotnposilion f888 (see below)
40
29
29
28
30
87
28
30
87
28
104
28
104
Society of Chemical Industry 35

Not95 to the accounts 31 December 2021
16 Creditor5: amounts falllng due aftèr mor? than ono year Icontinuedl
As al 31 December 2021 the charity held a total of £47.74912020 - £86.0131 In eight separale
Client Deposit Accounts at HSBC in relation to rent deposits. A deF4)Sit is lègally required to b8
paid by eath of SCI'S tenants on the commen¢emenl oflheir rentsl leasg and is usgd as protÈGtv)n
againstthe tK>tgnlial default of rent payment. The deposits are repayable atth8 8nd of the relovanl
lease term.
The life composition fees are in respect of incom8 r8c8iv8d from m&mb8rs who have opled for
life membership of the Society. A life membership payment is released into the accounts as
income ovèr a period of nine years.
2021
£'ooo
2020
£'ooo
At 1 January
D8creas8 In provk%itsn
Al 31 Dec8mb8r
38
141
34
131
31
Arnounts falling due wfthin ong year
Afflounts falling duo after one yèar
30
31
17 Deslgnatod fundts
The income fvnds ofthè charity and the gTOUP inolude the following d8sunated fijnds which have
been set aside of unrestricted funds by the trust&8s for specific purp05es'.
2021
£'ooo
2020
£'ooo
Group and Charlty
Tanglblo fixod ass•ts fund
At 1 January
Movernenl during th8 year
At 31 00¢gmb¢r
*k419
4,601
11821
4.419
1341
4,385
The balance on the tangible fixed assets fund at 31 December 2021 rèpr8sènts the c8rying valu8
of SCI'S tangible fixed ass8ts. The availabillty of these assets (which is primarily the ￿aSehOld
interest in the property occupied by SCI) is essential lo the day-to-day work of the charity and the
group as such, the value ofthès8 assets cannot be regarded as funds that would be realisable
th 88se, in order lo meet futLJre ¢onlin9encies. As such, an 8mr)unl equal lo the net book value
of the tangible fixed assets has been separated from the Gharty and the group's general funds
and held as a s8parat8 designated fund.
Society of Chemical Industry

Notes to th• x¢ounts 310gcember 2021
18 R•strict•d funds
The income funds of the charty include restricted funds comprising the following to be applied for
specrfic purposes:
Other
galns,
1108sesl
& transfers
At1
January
2021
£'ooo
At31
D¥cembgr
2021
£'ooo
Incoma
£'DOO
Exponditure
£'ooo
Grovp and charfty
£'ooo
A J Banks
Commemoration
Levgrhulrne Priz9
Mes591
S91igman
BBnevolent
Rideal Trust
S P S Andrew
ISEC
367
109
35
10
410
122
107
78
131
18
1,387
46
2.247
25
120
87
148
20
1,456
51
2,417
12
33
1941
130
53
11091
226
Atl
January
202Q
£'ooo
Olher
gains &
Ilo&s@s)
At31
D8C8mber
Income
Expenditur8
eooo
2020
£'ooo
Group and chari
A J Banks
Gommen>orali
Levethulfflg Pnz8
Mes5el
S81igm&n
Benevo￿￿t
Rid081 Tmsl
S P SAndrÈw
ISEC
345
103
15
367
IQ9
IOT
73
123
[15)
13
107
78
131
18
1,387
46
2.247
1,363
43
2.177
27
(62)
59
{77)
lQ2
The maln purpose of each fijnd is 8s follows..
A J Banks Fund- supp￿ts research Sn the Man￿aCture of foodstuffs and dissemlnation of
science.
Commemoration Fund- supports the advancement of public education in science
according lo the objeclives of SCI.
Leverhulm8 PrEe Fund- distributes trBvel bursari88.
Messel Fund- supports the advancem8nt of scientific research and includes a pemianerit
endowmgnl fvnd of £97,000.
Sèligman Fund- assists current or former members of tha Society who may be in financlal
need.
Society of Chamul Industry 37

Notes to tha accounts 31 December 2021
18 Restricted funds Icontinu8dl
8enèvolent Fund - a5S15ts current or former m8mb8rs of th8 Soci8ty who may be in
financial negd.
Rid631 Trust Fund- 15 a fund jointly administ8r8d with th8 Royal Socièty of Chemistry.
SUPPDrting the advancement of chemical science and colLoids in parb'cular.
S P S Andrew Fund- is a fund for lectures and research into neglected sci8n¢e.
ISEC Fund - 18 a restricted lund, felaling to conferences on solvent extraction njn by the
International Committee for Solvent Exlraclion.
19 Analysis of nat ass•t8 b8tween funds
General
funds
£'ooo
Designatsd
f￿ndS
£'ooo
Restricted
funds
£'ooo
2021
Total
£'ooo
Group
Fund balances al 31 Dgcember 2021 arn
rapr8sent8d by:
Tangib18 fixed assèts
Inv8strnenls
Current ￿ssets
Creditot5.' amount8 fall1r￿ du8 withln one year
Creditor5'. amounts falling due after mort thèn
one year
4.385
4.38S
8.433
2.386
16621
6.016
2,386
16621
2.417
11041
7,636
11041
14,43B
4.385
2.417
Gènetsl Dgswnated
lunds
funds
£000
£,￿0
R8stri¢ted
ILinds
£'ooo
2020
Tolal
Group
Fund b8lan¢&s at 31 D8cemb8r2020 a
r8prosented by..
T8ngible lixedass8ls
Inv&stments
C￿￿￿nt 8s$ets
Cr8ditors.' amounts falling due within on8year
CrgditorE.' amounts fallirNJ du8 after mor8 Ih8n
oneyear
4,419
4,419
7.578
2,838
1839)
5,331
2,838
(839)
2,247
{87)
7,243
(87)
13.909
4,419
2,247
Society of Chemical Industry 38

Notès to th¢ accounts 31 December 2021
19 Analysis of net ass•ts bètw••n funds (Gontinuedl
General De$i9nated
funds
fun¢Js
£'ooo
£'ooo
Restricted
funds
£'ooo
2021
Total
£'ODO
Charity
Fund balan¢o$ at 31 December 2021 are
represented by..
Tangible fixed as5et5
Investments
Current assets
Creditots.. aTnount5 falling due within Dne year
Creditors.. arnounts f811ing due after More tha
one year
4,38S
4,385
8.433
2,370
16461
016
2,370
16461
1417
11041
T.636
11041
14.d38
4,385
2.417
Gengral De&gn8ted
funds
lunrls
£'ooo
£'ooo
Restricted
funds
2020
Tol81
Charity
Fund balances at 31 Docembar 2020 are
represented by..
Tangible fixed assets
Investmenis
Curr8nta$$ÈtS
Cthditors.. amounls falling du& ￿thIn on8y8er
c￿￿￿or$.. 8mounls f811in9 due afterrn0￿ th8n
one y8ar
4.419
4,419
7,578
2,824
(825)
5.331
2,824
(825)
2,247
(87)
7,243
(87)
73,909
4.419
2.247
The total unrealisgd gains a5 at 31 Decemb8r included in the above constitute movements on
revaluation of thè charty's listed investmants. Movemen15 during the year were as follows..
2021
£'ooo
2020
£'ooo
Reconclliallon of movoments in unwllsed gains..
Total unrealised gains Ilossesl èt 1 January
Add118ssI in respect 10 disposals in the year
Add gains arlsing on revaluations in the year
Total unrealised gains at 31 D8C8mber
221
1391
444
826
61
703
1,390
20 Commitments under opgratSng lea$es
At 31 December the group and charity were commrtt8d to totsl future minimum leasa payments
under n￿-canCelIable operating leases as follc)ws:
Office equipment
2021
2020
£'ooo
£'ooo
Within one year
Within two to fNe ye8rs
iely of Chemical Industy 39

Notes t¢ th¢ accounts 31 December 2021
21 Rglated party transactions
SCI Busin6ss Limited is a wholly owned subsidiary of SCI. The subsidiary donates all profts to
SCI in the form of a Gift Aid donation (see note 131.
Tme accounts do not include disclosure of any furthertransaclions belwe8n SCI and SCI Business
Limited. By virttje of SCI Business Limrted being a wholly owned subsidiary undertaking of SCI.
SCI is exernpt from the requirement lo disclose such transactions under seclion 33.1A of FRS
102.
None of the trustees lor any persons connected with them} received any remuneration during the
year. but one of them was r&imbursed a total of £197 in expenses12020- 12 were reimburs8d
£4,068) travel and meeting costs.
All of the Iruslees are members of the Society and as such. pay an annual membership
SLtrbscriplion. The trustees do not benefft from any discounts in the subscription rat88 set by the
Sooety for all other m&mbers.
22 Raglstered trusteés funds and joint accounts
Th8 rèsults of tha tsvo charities below ar& consolidated into SCI'S accounts as restrict8d funds
(see note 181.
SCI Benevolent Fund
Registered Charity NuM￿r 277329
Regist8r8d Charity Numbèr 271558
Rideal Trust
SCI 8en•volgnt Fund
The object of SCI'S Bengvolent Fund is lo provide finan¢k41 relief to persons who are or h8ve
be6n members of the Society and tg their spouses, chlldren and dependents and to the
widowslwidowers, children and dependents of deceased mambers. The ass8ts as at 31
Decembar 2021 amounted to £146,000.
The Rideal Twst
The object of the Rideal Trusl is the general advancement of chemical science and. in
particular. branches relating to the chernisorption, colloid science, int8rfa¢e science. catstysis
and related topi¢s. The Trust is jointly adminstered by SCI and thè Royal Society of Chemistry.
The activitiès of the Trust directly support the ov8rall object of thè Society which is to advanc
the scienca of applied chemisty and related sci8nces for the public benefit by providing
information. granting bursari8s, awards etc. The assets as at 31 December 2021 amounted to
£20,000.
Society of Cham￿al Induslry 40

N¢>tes to th• accounts 31 Decembèr 2021
22 Rg91StgTed trustoes funds and jolnt accounts lconlinuadl
All resources are restri¢¢ed by the Tru5( D86d8
B￿n￿OI0nt Fund
Rldgal Trust
2021
£'ooo
2020
£'ooo
2021
£'ooo
2020
£'ooo
ststement of financSal actlvlllgs
Donations
Inve5ttn8nt
Total In¢orn8
Grants and award5
Other expendilur8
Total expond￿￿r•
Ngt Income
Galns on Investment8
12
Income and movement In funds
15
Total funds brought fon¥ard
123
18
1T
Total fund5 carrled fO￿ard
146
131
20
18
Balancg sh¢et
Invg$tm•nts At market value
Totsl net a8sel$
131
20
20
18
18
146
s￿letY of Chemical Industry 41