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2023-12-31-accounts

Impact Report and Financial Statements Impact Report 31 December 2023

CONTENTS

Trustees’ annual report

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2023 highlights

President and Chief Executive’s foreword

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Making an impact – Our work in 2023

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5 ~~4~~ Trustees’ responsibility statement

5 ~~5~~ 6 ~~8~~ Independent auditor’s report

Financial Statements

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1 ~~01~~ About this report

1 ~~02~~ Our governance

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Our values

Courage

Innovation

Respect

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Dr Lade Smith CBE, President
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Dr Trudi Seneviratne OBE, Registrar
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Professor John Crichton, Treasurer
Professor Subodh Dave, Dean
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Our core objectives

1. Supporting members through COVID-19 and beyond

2. Delivering education, training and research in psychiatry

3. Promoting recruitment and retention in psychiatry

Our vision for 2021-23

A strong and progressive College that opposes all forms of discrimination and helps its members deliver high-quality person-centred care, for people of all ages, around the world.

Our mission statement

The College works to secure the best outcomes for people with mental illness, intellectual disabilities and developmental disorders by promoting excellent mental health services, supporting the prevention of mental illness, training outstanding psychiatrists, promoting quality and research, setting standards and being the voice of psychiatry.

Our strategic priorities

1. Equality and diversity

2. Parity of esteem

3. Workforce wellbeing, and

4. Sustainability.

4. Improving standards and quality across psychiatry and wider mental health services, and support the prevention of mental ill health

5. Being the voice of psychiatry

6. Supporting psychiatrists to achieve their professional potential, by providing an excellent member experience, and

7. Ensuring effective management of College resources and delivering excellent employee experience.

Our organisational competencies

Fairness

We ensure our processes are fair so that all people, regardless of background or characteristics, have equality of opportunity and treatment.

Allyship

We recognise our responsibility to support those from marginalised groups and call out discrimination and bias when we see it.

Coproduction

We believe that patients and carers should be respected, valued and empowered to co-produce College workstreams and programmes.

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We responded to emergencies in Turkey, Syria, Ukraine, Pakistan, Sudan, Libya, Morocco, Israel, and Palestine.

We delivered 387 events with a total of 39,363 registrations.

Our 2023 highlights

We completed all 29 key actions set out in our Equality Action Plan.

BJPsych Journals app.

We ended the year with a record 21,174 members.

We continued to raise the profile of the College as a source of evidence-based expertise, and further established its position as the voice of psychiatry – generating 11,765 mentions in broadcast, print and online media across the UK.

We improved the quality of the mental health debate in Parliament by sending out 30 parliamentary briefings and securing 62 mentions of the College.

Our Choose Psychiatry Campaign resulted in a fill rate of 99.8% in Core Psychiatry, with 524 posts filled compared with 480 in 2022.

We published a landmark College Report on infant and early childhood mental health. Drawing on its findings and recommendations, we called on governments to prioritise the mental health and wellbeing of young children.

We upskilled 1,150 psychiatrists on behalf of National Health Service England (NHSE) through our National Autism Training Programme for Psychiatrists.

We supported 1,612 mental health services across the UK and beyond to improve the quality of patient care through the work of our 28 College Centre for Quality Improvement (CCQI) quality and accreditation networks.

We launched the Act Against Racism Campaign to help mental health employers Tackle Racism in the Workplace.

We appointed Presidential Leads for Global Mental Health Strategy; Retention and Wellbeing; Physical Health; Equity and Equality; Women and Mental Health; and Compassionate and Relational Care.

We continued to run the biggest quality improvement workstream in mental health globally, through which we helped services systematically enhance their work.

We launched member engagement initiatives, including ‘Question Time with the Officers’ and a listening exercise.

We were appointed by NHS England to deliver its Culture of Care programme over the next three years.

We held our first in-person Clinical Assessment of Skills and Competencies (CASC) since January 2020 and saw an aggregate of 4,887 candidates sitting our MRCPsych examinations.

We were accredited as a Level 3 member of the Disability Confident Employer Scheme.

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Sonia Walter, Chief Executive’
Dr Lade Smith CBE, President
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President and Chief Executive’s foreword

Last year was one of successes, challenges and transitions for the College.

their leadership and dedication to the College.

In April the College published its first SAS Doctor Strategy. This strategy sets out how the College will support SAS psychiatrists to fulfil their potential, gain recognition and have rewarding careers, as well as improving their access to development and leadership opportunities.

Throughout the year, we continued our commitment to supporting our 21,174 members as they faced a mental health emergency with record levels of demand and patients struggling to access the care they need.

We said goodbye to our President Dr Adrian James, who demitted office in July, and our Chief Executive, Paul Rees MBE, who left to take on a new challenge at the National Pharmacy Association.

In the summer we launched our Act Against Racism campaign, aimed at promoting guidance for mental health employers, across the four nations, to Tackle Racism in the Workplace. At the time of writing this, 15 employer organisations have committed to introducing the guidance in their organisations.

Adrian guided the College skilfully through the challenges of COVID-19, always ensuring RCPsych had a seat at the table and was representing mental health. Paul completely modernised the College and has left a legacy of values and equality, diversity and inclusion. We would like to thank them both for

Supported by a multi-media launch, We published a landmark College Report on infant and early childhood

mental health. Drawing on its findings and recommendations, we called on governments to prioritise the mental health and wellbeing of young children.

This year we welcomed Presidential Leads for Global Mental Health Strategy; Retention and Wellbeing; Physical Health; Equity and Equality; Women and Mental Health; and Compassionate and Relational Care.

In September, we saw the CASC return to Sheffield for its first face to face diet since January 2020.

We spent the autumn months developing the College’s 2024-2026 Strategy in close collaboration with the College Honorary Officers, Board of Trustees, Presidential Leads, Council, our Senior Management Team, and key members of staff.

New initiatives were launched across 2023 including the BJPsych Journals app, Question Time with the Officers, member listening exercises and the Aggrey Burke Fellowship.

We also helped upskill 1,150 psychiatrists through our National Autism Training Programme.

In November, our Choose Psychiatry campaign – which promotes recruitment and retention in psychiatry – was successful in helping to secure a fill rate of 99.8% in Core Psychiatry, with 524 posts filled compared with 480 in 2022. We continued to raise the profile of the College as a source of evidence-based

expertise, and further established its position as the voice of psychiatry – generating 11,765 mentions in broadcast, print and online media, and provided 30 parliamentary briefings which secured 62 mentions for the College.

We finished the year on great news - The National Collaborating Centre for Mental Health (NCCMH), along with its partners the National Confidential Inquiry into Suicide and Safety in Mental Health (NCISH), Neurodiverse Connection (NdC) and Black Thrive Global (BTG), won its biggest ever contract to deliver the bulk of NHS England’s Culture of Care programme, aiming to coach 200 wards and work with Executives in all 57 providers of inpatient mental health care in England from 2024-2026.

The achievements featured in this report would not have been possible without the dedication and expertise of our members, affiliates, patients and carers, staff and partners. We look forward to building on this success and continuing to advocate, educate and collaborate to achieve excellence in psychiatry.

Dr Lade Smith CBE President

Sonia Walter Chief Executive

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Making an impact – our work in 2023 Equality and Diversity

We maintained our focus on Equality, Diversity and Inclusion (EDI) as a strategic priority and ended the year having fully delivered on the commitments set out in our Equality Action Plan (2021–2023), which has been our framework for the last three years.

This year 15 organisations signed up to adopt our Tackling Racism in the Workplace guidance.

This has involved a huge collaborative effort across the College and although we recognise there is more to do, this work has laid strong foundations for future work that will continue as part of the Fairness for All priority for the next three years.

We published a set of commitments around LGBTQ+ equality and called on all mental health organisations to these actions. prioritise

In times of crisis, where recruitment and retention of the mental health workforce are more important than ever, we progressed several initiatives to reduce discrimination and improve the workplace experience of our members.

Our Act Against Racism campaign has been impactful, with 15 mental health organisations signing up to adopt the 15 actions in our Tackling Racism in the Workplace Guidance.

We developed and published a set of commitments around LGBTQ+ equality to help employer organisations to tackle discrimination faced by their LGBTQ+ staff, and we called on all mental health organisations to prioritise these actions. Two organisations have signed up.

Our disability working group made substantial progress on developing guidance to ensure people who need reasonable adjustments receive them proactively from their employer organisations. Once complete, we will publish and promote this via a UK-wide campaign.

We also acted on recommendations from the disability working group to improve accessibility at our International Congress, which generated great feedback from delegates on the positive impact these actions had made.

Our ethnicity pay gap narrowed to just 2.02% compared to a national average of 21.9% among other large charities.

We progressed from Level 2 to Level 3 in the Disability Confident Employer Scheme .

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We published a Gender Pay Gap Action Plan with 10 actions.

Equity for women – both those who access our services and those who are part of our workforce – is a priority area for the College from 2024 onwards, and we have plans to publish a ‘Women’s Mental Health Matters’ strategy.

The RCPsych Advancing Mental Health Equality (AMHE) Collaborative led by the NCCMH, supported 20 mental health organisations to work with their local communities to coproduce and implement solutions to tackle health inequalities.

Both the College’s gender pay gap and its ethnicity pay gap among its staff reduced further in 2023, with the former down to 2.13% (from 17% in 2019) and the latter down to just 2.02% (which is far lower than the average among large charities at 21.9%).

We progressed from Level 2 to Level 3 in the Disability Confident Employer Scheme, having improved how we recruit, retain and develop disabled people.

We encouraged the sharing of experiences and improved understanding of EDI issues through staff awareness days. We celebrated over 100 awareness days in 2023, with more UK and international members, staff and others taking part than ever before.

We were delighted to have our EDI work recognised as an example of best practice – we won the Charity Times Campaigning Team of the Year award and our Gender Pay Gap case study was promoted by the Equality and Human Rights Commission.

20 organisations took part in our Advancing Mental Health collaborative. Equality

The College’s gender pay gap reduced from 17% in 2019 to 2.1% in 2023.

We published a gender pay gap plan with ten actions ,and intend to publish a Women’s Mental Health Matters strategy.

We celebrated over 100 awareness days in 2023, with more UK and international members, staff and others taking part than ever before .

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Parity of esteem

We submitted detailed representations to HM Treasury ahead of the Spring Budget 2023 and welcomed the Chancellor’s decision to increase funding for employment support services, digital mental health and addiction treatment.

While implementation of the reforms to the Mental Health Act (1983) in England and Wales stalled in 2023, we responded to the Report of the Joint Committee on the Draft Mental Health Bill, which supported several College recommendations.

We published a landmark College Report on infant and early childhood mental health in October.

To promote the report among Government, stakeholders and the public, we launched a media campaign highlighting that children under five are at risk of suffering from lifelong mental health conditions that can be prevented with the right care and support. We called on the Government to introduce new specialist services and ensure every family has access to the support they need, regardless of where they live.

College Registrar, Dr Trudi Seneviratne OBE, was interviewed by BBC Breakfast, LBC, Sky Radio (IRN) and TalkTV. Additionally, ITV Lunchtime News and multiple radio stations covered the story, securing more than 100 broadcast mentions in total. The report was also covered in print and online by BBC News, ITV News, The Telegraph, Daily Mail, Independent, BMJ and over 200 additional outlets.

Other College reports we published were on ‘The role of genetic testing in mental health settings’, ‘Job planning for a community consultant psychiatrist (England)’ and ‘ADHD in adults: Good practice guidance’.

We achieved 100 broadcast

The report was covered by 200 other

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We opposed the implementation of mandatory reporting law for child sexual abuse because of our concerns about insufficient child-safeguarding infrastructure and the potential harms of a reporting culture.

We held the system to account for delivering on the mental health commitments in the NHS Long Term Plan, including submitting evidence to the Public Accounts Committee’s inquiry on mental health services.

We comprehensively highlighted the need for mental illness to be considered in the development of urgent and emergency care pathways, winter planning, police involvement in mental health callouts and the rapid review on patient safety.

We submitted a substantive response to The Rt Hon Patricia Hewitt’s review on the oversight and governance of integrated care systems (ICSs), which supported several of the College’s key recommendations.

We set out the College’s views on proposals to introduce assisted dying in Jersey, which were reflected throughout the Jersey Government’s Assisted dying in Jersey: Phase 2 Consultation Feedback Report. We also submitted evidence to a Health and Social Care Committee inquiry on assisted dying.

We highlighted the need for delivering on the mental health commitments in the NHS Long Term Plan , including submitting evidence to the Public Accounts Committee’s inquiry on mental health services.

We comprehensively highlighted the need for mental illness to be considered in the development of urgent and emergency care pathways , winter planning, police involvement in mental health call outs and the rapid review on patient safety.

We submitted a to substantive response The Rt Hon Patricia Hewitt’s review on the oversight and governance of integrated care systems (ICSs), which supported several of the College’s key recommendations.

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Workforce wellbeing

The RCPsych in Scotland (RCPsychiS) published its ‘State of the Nation: the Psychiatric Workforce in Scotland’ report in October, which was the culmination of several years of evidence-gathering and analysis by the Scottish Workforce Chair and committee. RCPsychiS is now working with Scottish Government, NHS Education for Scotland (NES) and other partners to progress these recommendations.

Our Psychiatrists' Support Service (PSS) delivered free, high-quality peer support to 49 psychiatrists on a one-to-one basis.

RCPsychiS also published ‘A Threatened Species: Where Have All The Higher Trainees Gone?’ which explores insight from trainees on the reasons behind the attrition in fill rates between core and higher training in Scotland. The report’s recommendations have influenced national work on the matter, leading to Psychiatric Trainees Committee (PTC) members undertaking a follow-up survey to capture the diversity of experience in training, and factors influencing trainees’ choices.

The Psychiatrists' Support Service web section received 5,800 page views from 2,100 users during 2023.

Dr Samir Shah and Dr Saadia Muzaffar were appointed as coAssociate Registrars for Wellbeing and they have been scoping out a number of areas of focus to support psychiatrists to thrive in the workplace.

It is clear that our members are still facing considerable challenges on the frontline and our online peer support network for psychiatrists affected by suicide is a safe place for psychiatrists of all grades to share their experiences in a reflective way.

The College published its first ever strategy for Specialty and Specialist (SAS) doctors.

We approved 806 job descriptions for consultant and speciality grade roles in England, Wales, and Northern Ireland .

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The College published its first SAS Doctor Strategy in April. This strategy sets out how the College will support SAS psychiatrists to fulfil their potential, gain recognition and have rewarding careers, as well as improving their access to development and leadership opportunities. It focuses on four key areas: education and research, improving care, influencing systemlevel change and fostering a sense of belonging to the College.

RCPsych in Wales continued to scrutinise progress of the Health Education and Improvement Wales (HEIW) Mental Health Workforce Plan and ensured that NCCMH was commissioned to deliver work on educational mapping to support the plan.

RCPsych Northern Ireland continued to apply pressure and influence the Department of Mental Health Services Workforce Review.

Our Psychiatrists’ Support Service (PSS) – which provides free, high-quality peer support to psychiatrists experiencing particular challenges – delivered direct support to 49 members.

In addition, the PSS section of the College website received 5,800 page views from 2,100 users during 2023.

During the year, we approved 806 job descriptions for consultant and speciality grade roles in England, Wales, and Northern Ireland to ensure that the demands of the posts were realistic and had sufficient emphasis on the quality of patient care. We also created a search function on our College website so members can ensure that advertised roles are approved by the College.

The RCPsych in Scotland (RCPsychiS) delivered its comprehensive State of the Nation: the Psychiatric Workforce in Scotland report..

RCPsych in Wales continued to scrutinise progress of the Health Education and Improvement Wales (HEIW) Mental Health Workforce Plan.

RCPsych Northern Ireland continued to the influence Department ofMental Health Services Workforce Review .

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Sustainability

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This has been an integral year to lay the foundations for both current and future sustainability work at the College, and the achievements have ensured we are able to move forward with an exciting yet challenging programme.

The Net Zero Action Group, chaired by the College Treasurer, Professor John Crichton, continues to monitor and implement all College carbon reduction actions.

The College has committed to completing an annual carbon footprint report as its primary method of tracking its operational carbon output. This allows us to review year-on-year figures, which provides greater clarity regarding our progress on the journey towards Net Zero.

We achieved a 4% reduction of our CO2 emissions despite running a greater number of events this year from 333 tonnes in 2022 to 320 tonnes

We have completed and launched a successful report for the NHS England Net Zero Mental Health Care project led by our NCCMH and CCQI teams. Following the release of this report, we aim to work alongside both teams to identify whether the findings can further support our own sustainability work and Net Zero targets.

We continue to review ways in which we can reduce our carbon output at our London headquarters on 21 Prescot Street, and we have installed green technologies, such as air source heat pumps within our reception area – which remove our reliance on gas to heat this part of the building.

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Sustainability
2023’s Memcom
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There were also plans to install solar electricity panels during 2023. However, following an extensive period of review, it became clear that this was not feasible due to the essential works required to improve or repair parts of the roof. This project is on hold indefinitely.

Prescot Street is procured from 100%

We remain committed to running our building as sustainably as possible, and we estimate that 21 Prescot Street emitted 320 tonnes of CO2 in 2023, which is a 4% reduction on the 333 tonnes of CO2 emissions in 2022. This is despite running a greater number of events.

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The electricity purchased to power 21 Prescot Street is procured from 100% renewable resources, certified through the REGO scheme administered by Ofgem.

The College received the Sustainability Award at 2023’s Memcom Awards. This reflects the level of work completed thus far to further support and promote sustainability as a key strategic priority at the College.

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Supporting members through COVID-19 and beyond

We submitted a substantive response to a Rule 9 request for Module 3 of the UK COVID-19 Public Inquiry, in which we made a compelling argument for mental health to be better prioritised in areas of planning, capacity and collaboration, infection prevention and control, and protection of doctors and other healthcare staff.

We carried out a full review of our assessment strategy to improve learning outcomes, reduce differential attainment, enhance formative assessments and establish the best delivery method for CASC post-pandemic.

The review determined that a face-to-face examination with some digital elements would be the most appropriate format to ensure fairness, reliability, and validity.

In May, we delivered our last digital CASC diet and in September we held our first face-to-face diet since January 2020 in Sheffield.

Our International Congress was held in-person in Liverpool, you could also access sessions online after the meeting.

We saw increased demand for in-person, peer-review visits to mental health services via the CCQI quality and accreditation networks, with 61% of all reviews being in person, compared with 22% in 2022.

We submitted a substantive response to the UK COVID-19 Public Inquiry making a compelling argument for mental health priorities.

We delivered our last exam and digital CASC we held our first face-to-face exam since January 2020.

We saw increased demand for in-person peer review visits to mental health services via the CCQI quality and accreditation networks, with 61% of all reviews being in-person compared to 22% in 2022.

Our was held International Congress in-person in Liverpool, you could also access sessions online after the meeting.

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Delivering education, training and promoting research in psychiatry

During 2023, an aggregate of 4,887 candidates sat our exams. While Paper A and Paper B remained online, September saw the return of the face-to-face Clinical Assessment of Skills and Competencies (CASC) in Sheffield. A new CASC syllabus was published in March ahead of its use at the September exam.

A total of 708 candidates sat the CASC digitally over two diets with an average pass rate of 50.6%. In September 565 candidates sat the first inperson CASC since 2020, which had a pass rate of 49.6%

We saw 2,044 candidates sit Paper A over three diets, with an average pass rate of 51%.

A total of 1,569 candidates sat Paper B over three diets, with an average pass rate of 46.6%.

Our publishing portfolio of five journals and learned books produced in partnership with Cambridge University Press continued to promote insight and learning across psychiatry.

Three of the journals acquired a new Editor-in-Chief, one of whom is the new College Editor, Professor Gin Malhi.

BJPsych received an impact factor of 10.5 and continued to be the most downloaded journal on the Cambridge University Press website.

The BJPsych Journals app was launched at the International Congress and since launch there have been just over 2,000 downloads.

2023 was also the most successful year for book releases, with 15 titles released.

During 2023, 4,887 candidates

A total of 2,044 candidates sat Paper A with an average pass rate of 51% and 1,569 candidates sat Paper B with an average pass rate of 46.6% .

received an BJPsych impact factor of 10.5 and continued to

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In October, we submitted the review of our curricula to the General Medical Council (GMC) which included recommendations to have better communication with the Deaneries, Heads of School and Training Programme Directors, and to annually review the trainee experience with the curricula and adjust accordingly.

Meanwhile, 3,790 delegates received Section 12 and Approved Clinician induction and refresher certificates.

The 2023 International Congress, our flagship conference, took place in Liverpool for the first time in 10 years and was attended by 2,331 delegates. In addition to offering the chance to attend in person, the event offered online access to recordings of key sessions via our webinar library.

We held a total of 387 events for 39,363 delegates on a wide variety of clinical, professional and wellbeing topics.

We developed and delivered the National Autism Training Programme for Psychiatrists on behalf of NHS England. The programme includes a short foundation training course for psychiatrists working across a variety of settings, and an enhanced development course for psychiatrists seeking to increase their specialist knowledge and skills in autism, including diagnosis, co-morbidity and therapeutic approaches.

We continued our commitment to offering high-quality, easily-accessible eLearning content by launching the College’s webinar library in January, and we enhanced the content of the CPD eLearning platform which hosted 209 modules and 165 podcasts.

Throughout the year, 17,884 certificates were generated for CPD eLearning modules and 7,470 were generated for eLearning podcasts. In addition, there were over 33,000 RCPsych podcast plays on SoundCloud.

Meanwhile, we supported 19 overseas psychiatrists to enhance their training through access to NHS posts through the Medical Training Initiative.

The College completed the developments of its Eating Disorders Credential in October and welcomed a new cohort of learners from England and Wales.

We launched the BJPsych at the International Journals app Congress and since launch there have been over 2,000 downloads .

Our International Congress in Liverpool was attended by 2,331 delegates.

We held 387 events for 39,363 delegates on a wide variety of clinical, professional and wellbeing topics.

17,884 certificates were generated for CPD eLearning modules and 7,470 were generated for . eLearning podcasts

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Promoting recruitment and retention in psychiatry

In 2023, we saw a fill rate of 99.8% in Core Psychiatry with 524 posts filled, compared with 480 in 2022.

These figures are the result of our Choose Psychiatry campaign 2022 which won Best Marketing Campaign of the Year in the Association Excellence Awards. It came second for Best Podcast, Blog or Video, and was awarded third place for Best Awareness Campaign or Advancement of a Cause, in the same national awards scheme. Judges praised Choose Psychiatry, describing it as “a well thought out campaign with clear objectives and impressive results,” and said it made “great use of multiple channels to deliver messages to different audiences.” The campaign was also ‘Highly Commended’ at the Memcom UK sector membership awards.

We welcomed the announcement of an additional 273 psychiatry training posts in England, as well as 13 additional posts in Wales and 15 in Scotland, and the publication of the NHS Long Term Workforce Plan for England.

In 2023 we saw a fill rate of 99.8% in Core Psychiatry with 524 posts filled, compared with 480 in 2022.

The 2023 annual Choose Psychiatry campaign took place from October to November and secured more than 200 media mentions including coverage in the Independent, Daily Mail, I Paper, Mirror and Evening Standard.

The campaign launched with the support of Stephen Fry and Alastair Campbell. Stephen Fry recorded a video supporting the College’s efforts, whilst Alastair Campbell shared his support on social media.

The website’s Choose Psychiatry section received 35,600 page views during the seven-week campaign and we attracted the highest ever number of new student associates.

273 psychiatry training posts in England , aswell as 13 additional posts in Wales and 15 in Scotland.

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We continued to work closely with University Psychiatric Societies, and in February we hosted the 10th annual National Students’ Psychiatry Conference for King’s College’ London Psych Soc.

Our Psych Stars scheme continues and during 2023 we recruited 10 College Psych Stars and 14 Faculty Psych Stars with funding and mentoring.

Following a successful bid for funding, we developed the Aggrey Burke Fellowship to support Black medical students in their careers. Three Aggrey Burke Fellows have been appointed and they attended a welcome dinner at the College in November to meet with senior members of the College and their mentors.

Focused support for doctors in Foundation Training continued, with 46 doctors joining the 2023 cohort of Psychiatry Foundation Fellows.

Our successful Psych Stars scheme recruited 10 College Psych Stars and 14 in 2023. Faculty Psych Stars

46 doctors joined the 2023 cohort of the . Psychiatry Foundation Fellows

The College continued to process the Certificate of Completion of Training (CCT) and Certificate of Equivalence of Specialist Registration (CESR) to advise the General Medical Council (GMC) of those doctors who are eligible to enter the Specialist Register.

In November, the College launched the first in-person Specialist Registration Ceremony at Prescot Street, inviting all doctors who have achieved CCT or CESR in the past 18 months. Around 45 members attended and the intention is this ceremony will continue annually.

45 members who achieved CCT and CESR attended an in-person Specialist Registration Ceremony at Prescot St. We will hold these ceremonies as an annual event from 2024.

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Improving standards and quality across psychiatry and wider mental health services, and supporting the prevention of mental ill health

The College Centre for Quality Improvement (CCQI) provided support to the 1,612 mental health services who are members of the 28 quality and accreditation networks.

The College Centre for Quality Improvement CCQI provided support to the 1,612 mental health services who are members of the 28 quality and accreditation networks.

Through this service, more than 50,000 members of the multi-disciplinary team in mental health services received advice and assistance on meeting standards and improving the quality of care.

In order to support the work of the quality and accreditation networks, CCQI completed 643 peer reviews – 392 of which were in-person and 251 were online.

Through our CCQI networks we supported 50,000 members of the . multi-disciplinary team

The Enabling Environments network, which supports services to develop relational practice, received an additional three years’ funding to continue to work with the National Probation Service.

We continued to deliver a programme of national clinical audits, publishing five key national reports in 2023. The National Audit of Dementia published the Round 5 report and a Spotlight Audit of memory services. The Prescribing Observatory for Mental Health published three reports covering melatonin, valproate and lithium prescribing.

The National Clinical Audit of Psychosis also released benchmarked data to Early Intervention in Psychosis services via a data dashboard and provided quality improvement coaching to 18 clinical teams. There were 465 member subscriptions to our 360-degree appraisal systems, supporting psychiatrists to collect feedback from colleagues and patients.

We completed 643 peer reviews , 392 in person and 251 online.

Across the CCQI, 88 events were held which were attended by 4,015 people. These events supported members of the multi-disciplinary team to share learning and innovative practice.

The CCQI and NCCMH were jointly commissioned by NHS England to establish a net zero mental health commission. Through this work, a guide was published to support clinicians and services to deliver net zero care. A launch event was held at the College and four online webinars were delivered which provided additional learning.

We continued to deliver a programme of national clinical audits, publishing five key in 2023. national reports

Through their Quality Improvement (QI) collaboratives, including the expansion of the Quality Improvement in Tobacco Treatment (QUITT), the launch of the Demand, Capacity and Flow (DCF), and the continuation of the Advancing

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Mental Health Equalities (AMHE) collaboratives, the NCCMH is providing QI coaching into 53 out of the 58 providers of mental health services in England (including those in the independent sector) as well as voluntary and statutory organisations in Wales and Northern Ireland.

In December 2023, the NCCMH, along with its partners the National Confidential Inquiry into Suicide and Safety in Mental Health (NCISH), Neurodiverse Connection (NdC) and Black Thrive Global (BTG), won its biggest ever contract to deliver the bulk of NHS England’s Culture of Care programme, aiming to coach 200 wards and work with Executives in all 57 providers of inpatient mental health care in England from 2024-2026.

We published two important reports for NHS England, concerning the use of Patient Reported Outcome Measures (PROMs) in Community Mental Health Services, and providing Net Zero Mental Health services.

Furthering our commitment to equity in mental health, we published the first mental health commission from the NHS Race and Health Observatory (RHO) in England on racial inequities in IAPT services, and are working on a further commission from the RHO to develop an implementation strategy for them.

During 2023 our Public Mental Health Implementation Centre (PMHIC) developed a six module e-learning certificate, which we will be launching in Spring 2024.

RCPsych in Wales established a Welsh Government commissioned partnership programme ‘Dyfodol’ with NHS Wales’ National Collaborative Commissioning Unit (NCCU) and completed reviews into the Provision of Electroconvulsive therapy (ECT) in Wales, Environment of care in CMHT’s in Wales, and the Provision of medical detoxification in Wales.

We secured additional funding from the Tropical Health and Education Trust (THET) to continue subspecialty training for trainee psychiatrists in Ghana in Old Age, Forensic, Addictions and Child and Adolescent Psychiatry.

The College Emergency Response plan was used to respond to emergencies in Turkey, Syria, Ukraine, Pakistan, Sudan, Libya, Morocco, Israel, and Palestine. This included contacting the leadership of the national psychiatric association to offer College support including translated public mental health materials, and psychological first aid training.

We held a roundtable discussion in Parliament on the future of Public Mental Health. Chaired by Dean Russell MP (Co-Chair APPG on Mental Health) the event was attended by 16 key stakeholders including parliamentarians, experts by experience, clinicians, and the College leadership. There was widespread agreement on the need for cross-Government support and additional funding to help reduce the implementation gap.

Across the CCQI, 4,015 people attended 88 events, supporting members of the to multi-disciplinary team share learning and innovative practice.

We secured additional funding from the Tropical Health and Education Trust to continue sub specialty training for trainee psychiatrists in Ghana .

We held a roundtable discussion in Parliament on the future of Public Mental Health .

During 2023 our Public Mental Health Implementation Centre (PMHIC) developed a six module e-learning certificate, which we will be in 2024. launching

38 Impact Report 2023

Impact Report 2023 39

Being the voice of psychiatry

In 2023, we achieved 11,765 mentions in broadcast, print and online media across the UK.

We achieved 11,765 mentions in

We also secured seven top stories on the Today Programme, over 50 news reports on BBC Radio 4 and four front page stories in the national print press and the British Medical Journal (BMJ).

In a first for the College, we marked Mental Health Awareness Week by running a media campaign highlighting the link between severe mental illness and premature deaths from preventable physical illnesses.

The story received extensive broadcast coverage from over 40 radio stations, including BBC 5 Live, TalkRadio and an extensive live interview on LBC’s breakfast show. Reaching an estimated audience of 3.4 million people, the campaign was supported by influencers such as Ruby Wax.

Over the course of 2023, we ran a number of media campaigns to help improve people’s understanding of psychiatry and break down the discrimination surrounding severe mental illness. These campaigns included Maternal Mental Health Awareness Week; Eating Disorders among Children and Young People (CYP); Right Care, Right Person; World Mental Health Day; Addictions – Grand National; Gender Pay Gap; World Suicide Prevention Day; Dr Lade Smith CBE as President; Dr Trudi Seneviratne OBE and the Royal Foundation; and Palliative Care for Eating Disorders.

Having sent out over 30 parliamentary briefings on a large array of topics, we saw an unprecedented increase in parliamentary engagement. We secured 30% more mentions of the College in debates, Select Committee appearances and in written questions, taking us from 47 parliamentary mentions in 2022 to 62 in 2023.

We worked hard to influence a number of Bills that made their way through Parliament. Working independently and with stakeholders, we influenced the development of the Online Safety Act 2023, Illegal Migration Act 2023 and the Victims and Prisoners Bill, which is still making its way through the House of Lords. This has led to the mental health impacts of these Bills being repeatedly raised and debated in Parliament.

Working with members, we have provided expert evidence and opinion to a number of Government Committees including the Education Committee in the House of Commons, the Lord’s Integration of Primary and Community Care Committee and Select Committee on Health and Social Care.

the Today Programme, over 50 news

Having sent out over 30 parliamentary briefings, we saw an unprecedented 30% increase in mentions of the College from 47 in 2022, to 62 in 2023.

40 Impact Report 2023

We raised the profile and quality of the debate on mental health at the three main political party conferences. We did this by ensuring College President, Dr Lade Smith CBE, was able to ask questions and hold the parties to account.

Following the success of the Party Conferences over the past two years, we have managed to secure regular engagement with Government and Shadow Cabinet ministers, senior officials, and Special Advisors (SpAds). These will be vital relationships for the College in the election year.

We published seven new patient information resources in 2023: Caring for someone with a mental illness; Physical illness and mental health; ADHD in adults; Depression in older adults; Isotretinoin and mental health; Bingeeating disorder; and Mental health tribunals. Just under 140 translations of the resources were published in 26 languages, including four ‘emergency translations’ in response to global humanitarian disasters.

In the absence of an Executive and Assembly, RCPsych in Northern Ireland has continued to have a presence at the All-Party Groups (APPG) which have been taking place. RCPsych in Northern Ireland worked alongside the Department of Health, the Public Health Agency, and the Strategic Planning and Performance Group, acting as the lead for influencing all strategic decisions to ensure the voice of psychiatry is heard.

During 2023, RCPsych in Scotland provided political briefings to 58 individuals on 23 topics and sent letters to 29 stakeholders on 12 subjects. RCPsych in Scotland also contributed to two parliamentary committee evidence sessions.

RCPsych in Scotland also achieved 1,034 media articles or mentions across multiple forums during 2023.

RCPsych in Wales hosted 5 drop-in sessions for members of the Senedd to highlight specific areas of work. RCPsych in Wales were commissioned to support James Evans MS, Shadow Minister for Mental Health, in development and introduction of a Private Members’ Bill on Mental Health. Following the publication of an explanatory memorandum and debate on a Mental Health Standards of Care (Wales) Bill (December 2023), James was granted ‘leave to proceed’ with cross-party support for the Bill. The Bill looks to bring forward several elements of the proposed Mental Health Act reform into law in Wales.

Meanwhile, during 2023, the College website had 9.8m page views from 3.7m people.

We continued to have the highest following on social media of any medical royal college – with 112,400 followers on X (formerly known as Twitter), up 2.6% from 2022; 21,060 followers on Facebook up 2.9% from 2022; 23,817 followers in LinkedIn up 14% from 2022; and 7,466 followers on Instagram, up 17% from 2022.

www.

We published seven new patient information resources and nearly 140 translations in 26 languages, including four ‘emergency translations’ in response to global humanitarian disasters.

The College website had 9.8m page views from 3.7m people.

We ended the year with 112,400 followers on X (formerly known as Twitter) up 2.6% and 21,060 on Facebook up 2.9% from 2022.

We had 23,817 followers on LinkedIn up 14% and 7,466 followers on Instagram up 17% from 2022.

42 Impact Report 2023

Impact Report 2023 43

Supporting psychiatrists to achieve their professional potential, by providing an excellent member experience

Over the course of the year, our membership figure increased to 21,178, up from 20,437 in 2022.

During 2023 we welcomed:

increased to 21,178 .

We also awarded Fellowships to 135 members of the College, and Honorary Fellowships, the highest award the College bestows, to five individuals.

Forty-seven per cent of members in 2023 were female and 44% were Black, Asian, or from minoritised ethnic backgrounds, 19% were based outside the UK. According to recent membership research, 8% of members have a disability and 7% identify as LGBTQ+.

Following the results of the Special Meeting held in November 2022, we obtained approval from the Privy Council for online voting in Annual General (AGM) and Special Meetings.

At the AGM at International Congress in Liverpool in July, motions to change the name of the Council to Council of the College and to include International Division Chairs as members of Council were carried, and were subsequently submitted to the Privy Council for final approval. This builds on the College work to ensure that diverse and inclusive perspectives are included throughout the decision-making structures.

to 135 members of the College and – the Honorary Fellowship College’s highest award – to 5 members.

We welcomed 627 new Members, 20 new Specialist Associates, 103 new Affiliates, 14 new International Associates and 826 new

In 2023 47% of members

A resolution to extend voting rights to Affiliates was not carried, with 43.9% voting in favour and 56.1% voting against.

Additionally, at the AGM, we saw our then President, Dr Adrian James, demit office as he handed the presidency to Dr Lade Smith CBE.

44 Impact Report 2023

Impact Report 2023 45

Dr Smith appointed Presidential Leads for Global Mental Health Strategy; Retention and Wellbeing; Physical Health; Equity and Equality; Women and Mental Health; and Compassionate and Relational Care.

We introduced Question Time with the Officers to offer the opportunity for members to ask questions to be answered by the Honorary Officers.

In October, we held a strategy collaboration day to inform the 2024–26 College Strategic Plan. The day was attended by members of the Board of Trustees, Council, Presidential Leads and Patient and Carer representatives.

In December, we invited a small group of members who had expressed dissatisfaction with the College to attend a full day listening exercise with the Honorary Officers.

Throughout the year, we continued to deliver excellent support to our devolved councils, faculties, divisions, special interest groups (SIGs) and 230 committees.

In 2023 44% of members were Black, Asian or from minoritised ethnic backgrounds and 19% of members were based outside the UK.

The College has 8% of members with a disability and 7% of members identify as LGBTQ+ .

Our members in England were supported by our eight English divisions who arranged 50 events for members, attracting 4,861 delegates, an increase of 110% from 2022.

We provided additional support to our faculties, with the appointment of a Faculty Project Manager to work with them in drafting the first RCPsych Faculty strategy. This has been an opportunity to celebrate successes so far and understand what areas of collaboration and development there might be to amplify faculty work further.

We continued to provide free webinars for members, including the popular Dean’s Grand Rounds, which aim to discuss the evidencepractice gap using a quality improvement approach.

We held our second MindMasters quiz, featuring teams from the devolved nations, English divisions, and international divisions, led by our Dean Professor Subodh Dave. Defending champions, Northern Ireland, were the winners for the second year running.

We were delighted to welcome 1,913 guests to 14 ceremonies during the year, presenting 484 new Members, 109 Fellows, 6 Honorary Fellows and 39 CCT/CESR holders.

We welcomed 1,913 guests to 14 ceremonies during the year, presenting 484 new Members, 109 Fellows, six Honorary Fellows and 39 CCT/CESR holders.

We continued to deliver excellent support for the 230 committees, Devolved Councils, Faculties, Divisions and Special Interest Groups (SIGs).

46 Impact Report 2023

Impact Report 2023 47

Ensuring the effective use of College resources and delivering an excellent staff experience

The Board of Trustees met quarterly to ensure the organisation was run efficiently and effectively in line with the strategic plan. Our Finance team made sure that effective, reliable management information was provided to volunteer members on key committees and staff alike.

Following the 2022 refurbishment of the College’s London headquarters at 21 Prescot Street, it was anticipated that the College would be able to generate some income from hiring out of the premises as an events space to support its wider activities. To this end we welcomed a global brand to the College to film their 2023 Christmas advert under a commercial arrangement.

We signed a Memorandum of Understanding with a leading mental healthcare provider in the UAE to explore areas of collaboration and support that the College can provide on a commercial basis.

We were also part of a Healthcare UK delegation to Arab Health in Dubai, where we showcased College capabilities and joined a Department of Business and Trade roundtable discussion with NHS and UAE-based mental health leaders.

We also worked hard to ensure our staff team felt supported and valued.

Senior Project Manager, Pippa Paton, won a High Commendation for the Memcom Rising Star Award.

The Board of Trustees met quarterly to ensure the organisation was run and in line efficiently effectively with the strategic plan.

Our Finance team made sure that effective, reliable management information was provided to volunteer members on key committees and staff alike.

We signed a Memorandum of Understanding with a leading mental healthcare provider in the UAE to explore areas of collaboration and support that the College can provide on a commercial basis.

We were part of a Healthcare UK delegation to Arab Health in Dubai , where we showcased College capabilities and joined a Department of Business and Trade roundtable discussion with NHS and UAE-based mental health leaders.

48 Impact Report 2023

Impact Report 2023 49

We welcomed a global brand to the College to film their Christmas advert under a commercial arrangement.

Our gender pay gap for 2023 was 2.13%, with men earning more on average than women.

Our 2023 gender pay report showed that 73% of our staff are women, with:

In 2023 73% of our staff are women and 68% of people in our upper pay quartile are also women .

Our ethnicity pay gap was 2.02%, with White staff earning more on average than Black, Asian, and staff from minoritised ethnic backgrounds.

Our ethnicity pay report, published in August, showed that 16% of our staff are Black, Asian or from minoritised ethnic backgrounds, with:

Our work as an inclusive employer was recognised when we attained Level Three – Disability Confident Leader in the Disability Confident Employer Scheme.

In 2023 16% of our staff are Black, Asian or from minoritised ethnic backgrounds and 20% of people in our upper pay quartile were Black, Asian or from minoritised ethnic backgrounds.

We attained Level Three– Disability Confident Leader in the Disability Confident Employer Scheme.

50 Impact Report 2023

Impact Report 2023 51

Environment

The College made significant commitments to Sustainability within its strategic plan for 2021-23 in its stated goal to be an exemplar medical royal college in terms of environmental policy and sustainability, and support members and mental health services to better understand the impact of sustainability and the climate crisis on mental health.

1. To produce a plan to improve the environmental impact of College activities

2. Invest in companies that make a positive impact on at least one of the 17 UN Sustainable Development Goals

3. Carry over learning from the pandemic, to minimise travel and face-to-face meetings by increased utilisation of virtual meetings and technologies, to reduce travel and paper

4. Promote sustainable forms of prescribing to reduce the overall carbon footprint of medications

5. Work with NHS and Government to advocate actions which support the NHS Green Plan

6. Take a concerted approach to improve understanding of interactions between the climate crisis and mental health matters

7. Promote the use of telepsychiatry and electronic prescribing when it is in the best interests of patients.

Streamlined Energy and carbon report (SECR)

The College is now reporting to the new UK Streamlined Energy and Carbon Reporting (SECR) requirements.

The table shown follows the guidelines set out in the UK Government Environmental Reporting guidelines.

Unit 2023
2022
Energy Consumption
KwH		 1,542,934
1,604,333
tCO2
Scope 1
Gas		 146
155.0
Scope 2
tCO2
Electricity		 174.8
177.8
Scope 3
tCO2
Business travel (where the College is
responsible for the reimbursement of fuel)		 13
10.4
Total Gross tCO2
tCO2		 333.6
343.2
Intensity ratio
Per member		 0.01608
0.01658

Intensity ratio

We have chosen to display the tCO2 as per member as the best metric to be able to compare year on year emissions. The average number of members during 2023 has been used as an appropriate metric to calculate the College’s intensity ratio and this methodology will be retained for future reports.

Methodology applied

The 2019 HM Government Environmental Reporting Guidelines have been applied, along with the 2020 UK Government’s Conversion Factors for Company Reporting. 2022’s electricity conversion was reported slightly lower and have been amended to reflect total usage confirmed by our electricity provider.

The figures provided as part of this report are estimations based on the information available. The College have committed to completing annual carbon footprints, which will provide accurate and validated calculations. We are currently establishing how we report this in the future to coincide with our commitment to achieving Net Zero by 2040. We continually strive to improve our reporting capabilities for greater transparency and data continuity.

52 Trustees’ responsibility statement

Trustees’ responsibility statement 53

Trustees’ responsibilities statement in relation to the accounts

The members of Board of Trustees are responsible for preparing the Annual Report and Accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard, applicable in the UK and Republic of Ireland published on 1 January 2019.

In preparing the attached accounts the Treasurer is required to:

Membership of Board of Trustees normally constitutes Trustees of the College for the purposes of charity legislation and have a general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the College and to prevent and detect fraud and other irregularities. They also have a general statutory responsibility to prepare annual accounts. Under the terms of the constitution of the College’s Supplemental Charter and ByeLaws, the Treasurer is required to present accounts of the College for each financial year. Such accounts are prepared to give a true and fair view of the state of affairs of the College as at the financial year end and of the incoming resources and application of resources for the financial year.

The Trustees have a collective responsibility for keeping accounting records that disclose, with reasonable accuracy, at any time, the financial position of the College and enable members of Board of Trustees to ensure that the accounts comply with the provisions of the Supplemental Charter and Bye-Laws, the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Members of Board of Trustees confirm that, so far as they are aware, there is no relevant audit information of which the College’s auditors are unaware. They have taken all the steps that they ought to have taken as members of Board of Trustees to make themselves aware of any relevant audit information and to establish that the College’s auditors are aware of that information.

Treasurer’s Report and Financial Review

It is with great pleasure that I present the annual accounts of the Royal College of Psychiatrists for the financial year ending 31 December 2023, prepared in accordance with the Charity SORP and FRS 102.

Financial Overview

Restricted 2023
£’000
Restricted 2022
£’000
Unrestricted 2023
£’000
Unrestricted 2022
£’000
Total 2022
£’000
Total 2023
£’000
Income 2,050
2,861
21,686
19,894
23,736
22,755
Expenditure (2,641)
(2,756)
(22,126)
(20,402)
(24,767)
(23,158)
Surplus/ (defcit) before investment gains/losses (591)
105
(440)
(508)
(1,031)
(403)
Gains/(losses) on investment –
–
1,482
(1,768)
1,482
(1,768)
Transfer between funds 290
–
(290)
–
–
_
Surplus/(defcit) after investment gains/losses (301)
105
752
(2,276)
451
(2,171)

54 Trustees’ responsibility statement

Treasurer's report & financial review 55

Income

The College’s main sources of income are membership fees, subscriptions to network review and grants from or contracts with other organisations, in particular the NHS.

Incoming resources 2023: £23,736k

The College has had a challenging year, a combination of global uncertainty, high inflation and capacity within the NHS has impacted the ability of the College to deliver an operating surplus. However, our investments have performed well, generating an unrealised gain of £1.482m, generating a surplus of £752k after transfers, on unrestricted activities for the year ending 2023. The deficit of £301k on restricted funds reflects the timing of contract income recognition to costs incurred and as such, does not represent a longer term operational concern. Despite the robust challenges facing the College in the year, excellent progress has been made in delivering the final year of the 2021-2023 College strategy, and key achievements have been summarised in the Trustee’s report.

With activity levels returning to prepandemic levels, the College has faced the pressure of increasing expenditure with inflation impacting energy, catering and maintenance costs. The Senior Management Team has worked hard to mitigate these inflationary pressures by cutting nonessential costs while delivering College objectives and supporting its members and trainees.

The investment portfolio, invested on a sustainable basis continues to outperform its benchmark over the long term. The level of overall and usable reserves continues to be monitored by the Board, and levels remain in line with approved levels. Funds have been designated across the next three years to investment programmes for 21 Prescot Street and digital improvements.

----- Start of picture text -----
Standard setting
and research
26%
Member services
and support
32%
Other
3%
Education and
training
39%
----- End of picture text -----

Donations,

health service providers in the UK and focuses on four key areas: quality networks, accreditation, national clinical audits, and research and evaluation. CCQI subscriptions to network review have generated £4,391k income in 2023 (2022: £4,045k).

gifts and bequests

College fundraising activities are overseen by the Business Development Office. £2k has been donated to the College in 2023 (2022: £56k) and £20k Thomas Henry Bewley bequest.

CCQI received £807k funding towards two national clinical audits commissioned by Healthcare Quality Improvement Partnership on behalf of NHS England. The National Clinical Audit of Psychosis - an improvement programme to increase the quality of care that NHS Mental Health Trusts in England and Health Boards in Wales provide to people with psychosis received £460k in 2023 (2022: £390k). The National Audit of Dementia – a clinical audit programme looking at the quality of care received by people with dementia in general hospitals, received £347k in 2023 (2022: £352k).

Standard Setting and Research

College Centre for Quality Improvement (CCQI)

CCQI aims to raise the standard of care that people with mental health needs receive by helping providers, users and commissioners of services to assess and increase the quality of the care they provide. CCQI works with more than 90% of mental

NCCMH reviews evidence and co-produces guidance, standards, workforce competences and quality improvement (QI) initiatives to

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Treasurer’s report & financial review 57

Member Services and Support

enable the delivery of high-quality, equitable mental health care. £76k funding from NHS England and Improvement had been received towards Mental Health Safety Improvement Programme to improve patient safety for those who use inpatient mental health and intellectual disability services, including staff who work in health care settings (2022: £225k). A two-year programme funded by NHS England - Quality Improvement in Tobacco Treatment collaborative, established in 2022 to increase the number of patients in mental health services inpatient units receiving smoking cessation treatment received £190k in 2023 (2022; £226k). In addition, NCCMH had been commissioned by NHS Race and Health Observatory to carry out work on the creation of an implementation strategy and model in the health and care system (£79k) and NHS England to develop implementation guidance for patient Reported Outcome Measure in Community Mental Health (£74k).

The Advancing Mental Health Equality (AMHE) Collaborative - supporting mental health care providers to reduce mental health inequalities in their local areas - generated £49k income (2022: £340k).

Education and Training

Examinations

The MRCPsych Papers A and B continued to be delivered online throughout 2023 and CASC diet 1 virtual and diet 2 in person. The total income generated from examinations was £3,360k (2022: £3,191k). The net surplus from examinations (after operating expenditure and contribution to overheads) was £198k (2022: net deficit £185k), which is 5.89% (2022: -5.80%) of the income generated from examinations. The College invested a significant number of resources to digitalise examinations in the last three years and undertaken a recruitment drive for new examiners and new exam panel members, so that trainees could continue to progress into national recruitment.

The Centre for Advanced Learning and Conferences (CALC)

CALC courses, conferences and events were delivered as a mixture of online, face-to-face, live-streamed and combined online courses

with eLearning i.e. Section 12 and Approved Clinician Inductions and Refreshers. Numbers attending Physical Health Update Conference and Annual ECT and Neuromodulation conference were particular strong in 2023 and Autism CPD Update continues to be popular. CALC ran a number of new one-off CPD Updates this year, including Dementia and ICD-11 and Personality Disorders. The team also launches the Webinar Library in collaboration with the eLearning team to host recorded content from events. This will continue to be expanded as new content from our one off events are added. The College also provided a wide range of free webinars, including the Dean’s Grand Rounds and webinars to mark International Women’s Day, Black History Month, Pride, South Asian History Month and International Day of Persons with Disabilities.

The International Congress was held in Liverpool, with its content available to purchase on demand till the end of 2023 through the Congress Webinar Library on the eLearning Hub. The International Congress 2024 is planned to take place in Edinburgh as in-person event. Content from the Congress will be recorded and offered for purchase on-demand after the event. CALC courses, conferences and events have generated a net surplus of £576k (2022: £284k).

Other Education and Training Activities

During 2023, total of £1,062k funding had been received from NHS England towards various projects: Autism Training, Foundation Fellows, Eating Disorder Credentials, Health Inequalities, Perinatal and eLearning modules to support training, recruitment and retention in psychiatry.

Faculties, Divisions, Devolved Councils and Special Interest Groups (FDSIGs) generated net income of £419k during 2022 (2022: £436k) before College support cost. As one of the most significant areas of activity and engagement of members, they continue to receive significant financial support from membership fees and from other general funds, particularly when their ability to generate income from conferences has been limited.

Publications and Journals generated a surplus from Publishing activities of £227k before College overheads (2022: £292k). The contract with Cambridge University Press has been extended to the end of 2024.

The income from member and associate subscription and registration fees amounted to £7,430k in 2023 (2022: £6,702k). Membership of the College has grown by 3% (2022: 3%) during the year to a total of 21,046 members (2022: 20,437).

Membership numbers

----- Start of picture text -----
21,500
21,000
20,500
20,000
19,500
19,000
18,500
18,000
17,500
2019 2020 2021 2022 2023
----- End of picture text -----

----- Start of picture text -----
Total membership included 3,896 (2022: 3,790)
members from overseas, across all grades.
----- End of picture text -----

Membership statistics by region

----- Start of picture text -----
RCPsych in
Northern Ireland England
68%
2%
Overseas
19%
RCPsych in
Wales
3% RCPsych in
Scotland
7%
Unknown
1%
member standard rate fee to £534.
----- End of picture text -----

The membership fee (UK member standard rate) for 2023 was £501 and an overall increase of 6% was agreed for 2024 at the Annual General Meeting in July 2023, bringing the UK member standard rate fee to £534.

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Treasurer’s report & financial review 59

Membership fee (UK member standard rate)

----- Start of picture text -----
£
600
500
400 £450 £459 £468 £473 £501 £534
300
200
100
0
2019 2020 2021 2022 2023 2024
----- End of picture text -----

Investment Policy

Expenditure

The College has a portfolio of listed investments with a market value of £17,452k at 31st December 2023 (2022: £15,175k). Within a broad remit that permits investment in both equities and fixed interest securities, the College operates a sustainable investment policy, which excludes investment in fossil fuel, in companies involved in armament manufacture, tobacco, gambling, alcohol and pornography and allows a limited investment in pharmaceutical companies of not more than 5% in a single pharmaceutical company and no more than 25% of the total value of the portfolio invested in the pharmaceutical sector. The policy also considers how well companies perform based on environmental, social and governance factors and invest in companies that make a positive impact on at least one of the 17 UN Sustainable Development Goals. The sustainable investment policy contributed to the strong financial performance of the portfolio during the year.

Staff costs are the main item of expenditure for the College and increased to £14,546k in 2023 (2022: £13,350k). This represents 59% of total expenditure (2022: 58%). The average number of staff increased to 406 (2022: 367). Patients and Carers are included as workers in the staff numbers, although they only work for the College for a limited number of days in the year. The significant increase in the average number of staff is driven by the increase in the Patient and Carer representatives, employed as workers. Employee numbers have remained stable.

The College has a policy to limit income from pharmaceutical companies to a maximum of 5% of income. Income from pharmaceutical companies was £76k in 2023 (2022: £39k). This represents 0.322% (2022: 0.171%) of income.

Expenditure

Resources expended 2022: £23,158k

Management of the College’s investments has been delegated, on a discretionary fund management basis, to Barclays Wealth Management Limited and Cazenove Capital, its investment managers. The main form of financial risk faced by the College is that of volatility in equity and investment markets due to wider economic conditions and the attitude of investors to investment risk. The risk is minimised by ensuring a balanced and diversified investment portfolio handled by professional investment managers with authorised discretionary fund management responsibilities. The performance of College investments is regularly reviewed by the Finance Management Committee. The overall investment policy is to maximise total return through a diversified portfolio, with a view to ensuring that capital appreciation exceeds inflation over any fiveyear period by 3.5% after charges.

----- Start of picture text -----
Other
2%
Education
and training
29%
----- End of picture text -----

----- Start of picture text -----
Communications
and policy
11%
Member services
and support
20%
----- End of picture text -----

Standard setting and research 39%

60 Treasurer’s report & financial review

Treasurer’s report & financial review 61

Reserves Policy

Investment Performance

The College’s listed investments have delivered a total positive return of 10.68% (2022: -10.52%) in the 12 months to December 2023. Over the longer term, the portfolio has delivered 5.12% and 8.61% return on three- and five-year time scales respectively (2022: 6.73% three years and 5.03% five years), exceeding the target level of return. This is 1.51% below and 4.14% above the CPI for the three- and five-year period.

3.3% of the investments were held in pharmaceutical companies (2022: 3.8%).

Reserves Policy

The College’s funds comprise unrestricted, restricted and endowment funds and totalled £34,843k at 31st December 2023 (2022: £34,392k).

The restricted and endowment funds result from grants, donations and legacies which can only be applied for a purpose specified by the donor or grantor and are not available for general purposes. The College aims to carry out the activities and projects supported by these funds in accordance with the purposes and conditions specified.

Endowment Fund

The permanent endowment fund totalled £262k (2022: £262k) at 31st December 2023. Whilst the income from this fund must be used for specific purposes and therefore is credited to restricted funds, the endowment fund balance itself is ‘capital’ and must be held indefinitely by the College. Full details of this fund can be found in note 20 to the accounts.

Restricted Funds

Included in total reserves is an amount of £1,863k (2022: £2,164k) which is restricted. Full details of these restricted funds can be found in note 21 to the accounts together with an analysis of movements in the year.

Unrestricted Funds

The unrestricted funds of £32,718k (2022: £31,966k) represent the accumulated surpluses generated from the College’s general business activities and are funds that are available for use at the discretion of the Trustees. They comprise designated funds and general funds.

Designated Funds

Funds totalling £20,326k (2022: £20,745k) have been designated, or set aside, by the Trustees for specific purposes. The purposes and an analysis of the movements on the funds are set out in note 24 to the accounts. The Fixed Asset fund of £18,339k (2022: £18,409k) represents the net book value of the College’s intangible fixed assets, tangible fixed assets and heritage assets. These are considered essential for the College to operate effectively and therefore the funds are not available for use for other purposes in the College. The Repairs provision of £1,087k (2022: £1,164k) is also included within designated funds. It exists to finance exceptional repairs and maintenance of College buildings and the long-term objective is to maintain approximately £2,000k for major repairs and maintenance to the College’s headquarters. £105k has been spent on repairs to the roof, upgrade to air conditioning units and other building improvement works at 21 Prescot Street.

Digital Improvement Fund £854k (2022: £1,119k) established in 2021 for future replacement and investment into information systems. The fund will be used to support the College’s core IS projects including upgrading the members website, new membership database, new finance system, hybrid events AV and meeting rooms upgrade, and other core IS infrastructure. £265k has been spent on hybrid events AV and meeting rooms upgrade, improvements to membership database and members website. A Trainee fund of £46k (2022: £46k) is also included in designated funds. The Trainee fund is to be spent on trainees and the Psychiatric Trainee Committee.

The Academic Bursaries fund was established in 2019. During 2023 £nil (2022: £nil) has been set aside from the International Congress surplus to fund trainees’ attendance at the International Congress. An outgoing transfer of £7k in 2023 (2022: £11k) into general funds is a contribution towards the Rosetree and Stoneygate Fellowship.

General Funds

The Board of Trustees has considered the diverse income streams of the College and their risk profile, the degree of commitment to expenditure in order to meet its charitable obligations, the day-to-day working capital requirements and the risk environment that the College operates in, and it considers that free reserves (funds that are freely available for the College’s general purposes) equivalent to at least six months of unrestricted operating expenditure (approximately £11,063k (2022: £10,201k)) should be the target for the general fund. At 31st December 2023, the balance on the general fund was £12,392k (2022: £11,221k) and the equivalent of 6.7 months of unrestricted operating expenditure (2022: 6.1 months).

The reserves will continue to be monitored regularly by the Trustee Board.

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Treasurer’s report & financial review 63

Risk Management

Risk

Management

Key risks

The most significant risks and uncertainties we face as an organisation at the time of this report are:

The controls in place, through the risk management process, are there to provide a reasonable level of assurance against risk around matters of governance efficacy, operational and financial control, external factors and compliance with laws and regulations.

The Board of Trustees has responsibility for ensuring the College maintains comprehensive risk management systems and that appropriate actions are being taken to manage and mitigate risks. Throughout 2023, the Trustee Board reviewed the top-level risks – defined as risks with a residual risk score, after mitigating controls, of seven and above – on a quarterly basis, to ensure they were being effectively managed and mitigated.

Failure of the College and/or its members to uphold College values and behaviours; and resistance by members to follow a due process.

Key risks

Mitigation

Reputational damage to the College from disagreements about the proposed changes to the Bye Laws and Supplemental Charter.

A College Equality Action Plan has been published, and the College is working to 430 EDI actions. All staff complete mandatory annual training in Equality, Diversity and Inclusion. Staff awareness of and support for the values has been enhanced by marking events such as Pride, Black History Month, International Women’s Day and our own South Asian History Month. There is also a Disciplinary and Complaints Regulations Committee to investigate any complaints against members and to take any appropriate action.

The principle categories of risk identified in the 2023 risk register – based on Charity Commission good practice guidance – were:

Mitigation

Extensive communication with members on the proposed changes, through blogs, webinars, the College website and RCPsych Insight. The College ran Member consultations on key proposals and held an EGM at a number of locations across the UK so that Members can take part.

The Finance Management Committee (FMC) monitors and reviews the College’s full risk register – including medium and low-level risks – on a quarterly basis. It highlights any concerns it may have around the risk portfolio, and its management, to Trustees. The Chief Executive, Senior Management Team and the College Heads review the full risk register every other month.

Key risks

Key risks

Potential large losses on the College’s investment portfolio.

Aspirations of Members exceed the ability of College to support, either financially or with sufficient staff resources.

The impact scoring (for the risks) was based on risks which could have a material impact on reputation, operations, staff morale, time, resources, statutory requirements, achievement of strategic objectives and potential financial losses. These risks were then assessed against the likelihood of their happening.

Mitigation

Mitigation

The College maintains an appropriate investment policy that is in accordance with Charity Commission guidance and appropriate to the risk appetite of the College. Investment performance and policies are regularly reviewed by SMT and FMC.

The College has developed a Business Prioritisation Grid which is reviewed weekly at SMT and then discussed with Officers to ensure that priorities align with the College’s three-year Strategic Plan and are actioned when there are sufficient resources available.

Key risks

Cyber-attack. Despite following cybersecurity best practices, the threats are always evolving.

Mitigation

The College holds Cyber Essentials Plus certification, which is renewed annually. It is also a mandatory requirement for all staff to undertake cybersecurity training.

64 Treasurer’s report & financial review

Treasurer’s report & financial review 65

Going concern

As detailed in the Trustees’ responsibilities statement, the accounts are prepared on a going concern basis unless it is inappropriate to presume that the College will continue in operation. The College’s Trustees have approved the College-wide budgets for 2024 and reviewed forecasts for 2025 and conclude that there are no material uncertainties about the College’s ability to continue as a going concern. The College has adequate resources to continue in operational existence for at least 12 months from the date of signing the financial statements. With respect to the next reporting period, 2024, the most significant areas of uncertainty are the level of return on the investment portfolio but the Trustees are confident that, with the level of reserves and assets held by the College, that these do not represent material uncertainties about the College’s ability to continue as a going concern.

Pay and remuneration of the College’s key management personnel

Although the College Trustees control and manage the administration of the College, the day-to-day management of its activities is delegated to the Chief Executive Officer and the members of the Senior Management Team.

The Trustees set the overall strategy of the organisation at their quarterly board meetings, and the Senior Management Team implements the strategy on a day-to-day basis – with key decisions discussed and taken at the weekly Senior Management Team meeting.

All Trustees give their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses are disclosed in note 11 to the accounts.

The remuneration committee determines the pay and benefits for the Chief Executive Officer by considering benchmarks and performance.

Every two years, Korn Ferry is commissioned to carry out a benchmarking of the College’s salaries, including salaries of the Senior Management Team, where roles across all grades are compared to sector specific salary trends across key industries. The Trustees annually approve any pay increase, normally in accordance with average increases in earnings, to all members of staff during the budget process.

Fundraising

The Business Development Department is responsible for fundraising, new revenue generating opportunities and for coordinating any activities of College members who voluntarily support fundraising activities on its behalf.

The College also receives a number of donations from generous members, who have held their membership for over 40 years. Long-standing members are not required to pay their annual membership fees but choose to donate to help support the Core Trainees programme.

The Business Development Department is committed to abide by the Fundraising Regulators’ Codes of Practice to ensure it is compliant with the regulation. The fundraising promise was published on the College’s new website in 2018. The Royal College of Psychiatrists does not use professional fundraisers and there were no complaints about fundraising activity in 2023 (2022: nil). Any direct marketing is undertaken by the Business Development Department to ensure that it is not intrusive or persistent and protects, in so far as it is possible, vulnerable people. Using this approach, contact is made with College members through direct marketing appeals a maximum of three times a year, usually through a written appeal.

In 2023, the Business Development Department continued to develop the College’s approach to fundraising and new business development that opened up new opportunities to support the College’s work and promote its charitable mission and explored new revenue streams to promote psychiatric care and wider mental health services in the UK and across the world. In 2024, the College will continue to develop a pipeline of revenue generating activities, with a particular focus on international commercial development. Approved and authorised for issue on behalf of the Board of Trustees and signed on its behalf by:

Dr Lade Smith CBE, Chair of Trustee Board

Professor John Crichton, Treasurer

Approved by the Board of Trustees on: 26 April 2024

66 Treasurer’s report & financial review

Treasurer’s report & financial review 67

Independent Auditor’s Report

To The Trustees Of The Royal College of Psychiatrists 31 December 2023

Matters on which we are

Opinion

We have audited the financial statements of The Royal College of Psychiatrists (the “charity”) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

• give a true and fair view of the state of the charity’s affairs as at 31st December 2023 and of the charity’s net movement in funds for the year then ended;

• have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005, regulation 8 of the Charities Accounts (Scotland) Regulations 2006, the Charities Act 2011 and the charity’s Royal Charter.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

required to report by exception

Other information

We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 and Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

The Trustees are responsible for the We have nothing to report in respect of the other information. The other information following matters in relation to which the comprises the information included in Charities Accounts (Scotland) Regulations the Trustees’ Annual Report, including the 2006 and Charities (Accounts and Reports) President and Chief Executive’s foreword. Regulations 2008 requires us to report to Our opinion on the financial statements you if, in our opinion: does not cover the other information and, • adequate accounting records have not except to the extent otherwise explicitly been kept by the charity; or stated in our report, we do not express any form of assurance conclusion thereon. • the charity financial statements are not in In connection with our audit of the financial agreement with the accounting records and statements, our responsibility is to read returns; or the other information and, in doing so, • certain disclosures of trustees’ remuneration consider whether the other information is specified by law are not made; or materially inconsistent with the financial statements or our knowledge obtained • we have not received all the information in the audit or otherwise appears to be and explanations we require for our audit. materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material Responsibilities of Trustees misstatement in the financial statements for the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there As explained more fully in the Trustees’ is a material misstatement of this other responsibilities statement set out on page information, we are required to report that 54 the Trustees are responsible for the fact. We have nothing to report in this preparation of the financial statements and regard. for being satisfied that they give a true and

As explained more fully in the Trustees’ responsibilities statement set out on page 54 the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

68 Independent Auditor’s Report

Independent Auditor’s Report 69

for the year ended 31 December 2023

Financial statements

Auditor’s responsibilities for the audit of the financial statements

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc. org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the charity and the environment in which it operates, we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities and Trustee Investment (Scotland) Act 2005, regulation 8 of the Charities Accounts (Scotland) Regulations 2006, Charities Act 2011, the Charity’s Royal Charter payroll tax and sales tax. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to income and management bias in accounting estimates. Audit procedures performed by the engagement team included:

Use of our report

This report is made solely to the charity’s Trustees, as a body, in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005, regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an Auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

• Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;

• Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and

Haysmacintyre LLP Statutory Auditors 10 Queen Street Place London EC4R 1AG

• Challenging assumptions and judgements made by management in their critical accounting estimates; and

Date 10th May 2024

Haysmacintyre LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

----- Start of picture text -----
Notes Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2023 Total Funds 2022
(pages 80–100) £’000 £’000 £’000 £’000 £’000
----- End of picture text -----
Income and endowments from:
Donations and legacies
Donations andgifts
1		 22
–
–
22
56
Charitable activities:
– Standard setting and research
2		 5,211
993
–
6,204
6,628
– Education and training
3		 8,139
1,047
–
9,186
8,587
– Member services and support
4		 7,550
–
–
7,550
6,815
– Communications and Policy
5		 31
–
–
31
110
Investments
1		 387
–
10
397
215
Other income
– Rental income 346
–
–
346
344
Total 21,686
2,040
10
23,736
22,755
Expenditure:
6
Cost of raising funds 358
20
–
378
344
Expenditure on charitable activities:
– Standard setting and research 7,830
1,640
–
9,470
8,845
– Education and training 6,342
938
–
7,280
6,715
– Member services and support 4,841
–
–
4,841
4,547
– Communications and Policy 2,755
42
–
2,797
2,700
– Prize funds
22		 –
1
–
1
7
Total 22,126
2,641
–
24,767
23,158
Gains / (Losses) on investment
16		 1,482
–
–
1,482
(1,768)
Gains on investmentproperty
16		 –
–
–
–
–
Net income / (expenditure) 1,042
(601)
10
451
(2,171)
Transfer between funds (290)
300
(10)
–
–
Net movement in funds 752
(301)
–
451
(2,171)
Reconciliation of funds
Total funds brought forward 31,966
2,164
262
34,392
36,563
Total funds carried forward 32,718
1,863
262
34,843
34,392

All of the College’s activities above are in respect of continuing operations.

The College has no recognised gains and losses other than those shown above and therefore no separate statement of total recognised gains and losses has been presented.

70 Independent Auditor’s Report

Financial statements 71

Balance sheet as at 31 December 2023

for the year ended 31 December 2023

Notes
(pages 80–100)		 2022
£’000
2023
£’000
Fixed assets
13
Intangible assets		 191
276
Tangible assets
14		 17,803
17,803
Heritage assets
15		 345
330
Investments
16		 17,452
15,863
35,791
34,272
Current assets
Stocks 26
16
Debtors
17		 4,709
3,553
Investments 1,438
–
Cash at bank and in hand 949
3,818
7,122
7,387
Creditors:amounts fallingdue within oneyear
18		 6,903
6,044
Net current assets 219
1,343
Total assets less current liabilities 36,010
35,615
Creditors:amounts fallingdue after more than oneyear
19		 1,167
1,223
Total net assets 34,843
34,392
Represented by:
Fund and reserves
– Endowment fund
20		 262
262
Income funds
– Restricted funds
21		 1,863
2,164
– Unrestricted funds
– Designated funds
23		 20,326
20,745
– General funds
23		 12,392
11,221
Total unrestricted funds 32,718
31,966
Total charity funds 34,843
34,392
Notes
(page 74)		 2022
£’000
2023
£’000
Cash fows from operating activities:
A
Net cash used in operating activities		 (1,582)
(1,045)
Cash fows from investing activities:
Dividends, interest and rents from investments 387
153
Proceeds from the sale ofproperty,plant and equipment _
10
Purchase of tangible fxed assets (97)
(776)
Purchase of intangible fxed assets –
(291)
Proceeds from the sale of investments 1,960
8,892
Purchase of investments (2,891)
(8,814)
Net cash used in investing activities (641)
(826)
Cash fows from fnancing activities:
Capital element of fnance lease rental payments (32)
(25)
Net cash used in fnancing activities (32)
(25)
Changes in cash and cash equivalents in theyear (2,255)
(380)
Cash and cash equivalents at the beginning of theyear 5,275
5,655
Cash and cash equivalents at the end of the year
B		 3,020
5,275

The financial statements on pages 71 to 100 were approved and authorised for issue on behalf of the Board of Trustees and signed on its behalf by:

Dr Lade Smith CBE, Chair of Trustee Board

Professor John Crichton, Treasurer Approved on: 26 April 2024

72 Financial statements

Financial statements 73

for the year ended 31 December 2023

Principal accounting policies

for the year to 31 December 2023

Basis of accounting

Income

A

2022
£’000
2023
£’000
Net income / (expenditure) for theyear asper the statement of fnancial activities 451
(2,171)
Adjustments for:
Depreciation and amortisation charge 193
312
(Gains) / losses on investments (1,482)
1,768
Dividends, interest and rents from investments (387)
(208)
Loss on the sale of fxed assets –
7
Increase in stocks (10)
(2)
Increase in debtors (1,156)
(848)
Increase in creditors (excluding fnance leases) 809
97
Net cash provided by operating activities (1,582)
(1,045)

B Analysis of cash and cash equivalents

BAnalysis of cash and cash equivalents
2022
£’000
2023
£’000
Cash in hand 2,387
3,818
Cash held byinvestment managers 633
1,457
Total cash and cash equivalents 3,020
5,275

C Analysis of changes in net debt

Cash fows
£’000
Non cash changes
£’000
At 1 January
2023 £’000
At 31 December
2023 £’000
Cash 5,275
(2,255)
–
3,020
Total cash and cash equivalents (2,255)
–
3,020
5,275
Finance lease obligations (117)
21
(15)
(111)
Total 5,158
(2,234)
(15)
2,909

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019) and the Charities Act 2011 and UK Generally Accepted Practice. The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’.

The College meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments and of the College’s heritage assets.

The financial statements presentation and functional currency of the College is sterling and are rounded to the nearest thousand.

Going concern

As detailed in the Trustees’ responsibilities statement, the accounts are prepared on a going concern basis unless it is inappropriate to presume that the College will continue in operation. The College’s Trustees have approved the Collegewide budgets for 2024 and reviewed forecasts for 2025 and conclude that there are no material uncertainties about the College’s ability to continue as a going concern. The College has adequate resources to continue in operational existence for at least 12 months from the date of signing the financial statements. With respect to the next reporting period, 2024, the most significant areas of uncertainty are the level of return on the investment portfolio but the Trustees are confident that, with the level of reserves and assets held by the College, that these do not represent material uncertainties about the College’s ability to continue as a going concern.

Incoming resources are recognised in the period in which the entitlement to the receipt is probable and the amount can be measured with reasonable accuracy. Income is deferred only when the College has to fulfil conditions before becoming entitled to it. Membership income is included in the statement of financial activities and comprises of membership registrations and subscriptions fees. It is recognised in the accounting period to which the services covered by those fees relates. Fees received in advance are accounted as deferred income within creditors.

Grants from government and other agencies have been included as incoming resources from charitable activities when receivable and are deferred where the donor specifies that the grant must be used in a future accounting period. Contract income from government and other agencies have been included as incoming resources from charitable activities when receivable and are accrued / deferred in accordance with the terms of the contract.

Financial statements 75

74 Financial statements

Principal accounting policies

Principal accounting policies

Expenditure and the basis of apportioning costs

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is more likely than not that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured or estimated reliably. Irrecoverable VAT is charged as a cost against financial services.

Resources expended comprise the following:

• The cost of generating funds represents fees paid to investment managers in connection with the management of the College’s listed investments as well as staff cost incurred in connection with managing the College’s liquid assets and those costs associated to the Business Development Office.

• The costs of charitable activities comprise expenditure on the defined charitable purposes of the College and include direct staff costs attributable to the activity and an allocation of the general management and overhead costs.

Termination payments

In cases of resignation or dismissal, fixed remuneration (base salary and employer pension contributions) will cease on the last day of employment. In the case of redundancy, redundancy payments will be made in accordance with statutory requirements. Depending on the circumstances, the College may waive its right to insist on staff working their notice and instead give a payment in lieu of notice. Termination payments are recognised in the statement of financial activities at the point of communication to staff.

Intangible fixed assets

All intangible assets with an expected useful life exceeding one year are recognised at cost and amortised over the asset’s useful life. It is College policy to measure intangible assets using the cost model. The College measures intangible assets at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation costs are charged to financial services and are allocated as overheads to the cost of raising funds, standard setting and research, education and training, membership services and support and to communication and policy.

Intangible fixed assets consist of the following College IT systems:

• HR System

• eLearning Platform

Tangible fixed assets

All tangible assets in excess of £2,500 and with an expected useful life exceeding one year are capitalised.

Functional land and buildings used for the direct charitable work of the College are shown in the balance sheet at historical cost. The College flat is held on a lease; the net book value is being amortised over the remaining period of the lease. Depreciation on equipment, furniture and fittings is provided at the following annual rates in order to write off each asset on a straight-line basis over its estimated useful life:

•

• IT equipment

– 33.33% on cost

Freehold land and buildings are not depreciated as the College has a policy of maintaining them in such a condition that their value is not impaired by the passage of time and that their residual value is deemed greater than carrying value. The Board of Trustees is of the opinion that any provision for depreciation is deemed to be immaterial because of the long useful economic life.

Leasehold buildings comprise the College flat located in Aldgate and is depreciated on cost over the remaining period of the lease. The College flat is intended for the use of Trustees and is not considered to be an investment property. Investment property comprises the College leasehold flat located in Pimlico, which is no longer in use by College Trustees, is being let on a short-term basis. It is initially recognised at cost and subsequently measured at fair value with

gains and losses recognised in the Statement of Financial Activities. At the end of each reporting period the Board of Trustees are to review the investment property fair value.

It is College policy to capitalise finance costs incurred in connection with the construction of an asset up until the point at which the related asset comes into use.

It is College policy to undertake an annual impairment review of all tangible fixed assets, including heritage assets where no depreciation charge is made on the grounds that it is immaterial (such as the Portraits and the collection of antiquarian books), or where depreciation is calculated on a basis that assumes that the useful economic life of an asset is longer than 50 years (such as the College headquarters at 21 Prescot Street and the College flat), to ensure that the carrying amount of the asset is not overstated. The College portraits, held as part of heritage assets, are not depreciated as they have a very long useful economic life before they need any major restoration or refit. The remaining economic value of the assets are not materially different from the carrying amount of the portraits, as a result the depreciation charge is immaterial.

The College heritage assets (excluding College portraits) were revalued on 22 January 2016 by Bonhams, specialist valuers and auctioneers in a wide range of antiquarian and rare books. These assets have been recognised in the Balance Sheet at market value. Due to the nature of the heritage assets they are not depreciated and the College Trustees are of the opinion that any provision for depreciation would not be material and that the heritage assets are worth at least their book value.

76 Financial statements

Financial statements 77

Principal accounting policies

Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year based on brought forward values.

Cash and cash equivalents

Cash at bank and in hand includes interest and non-interest bearing accounts held at call with recognised United Kingdom banks, and cash in hand. Cash equivalents includes monies deposited with a maturity of less than one year but more than three months held for investment purposes rather than to meet short-term cash commitments as they fall due.

Financial

assets

Trade and other debtors

Trade and other debtors (including accrued income) which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. The College has no debtors that would constitute a financing transaction.

A provision for impairment of trade debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in the Statement of Financial Activities for the excess of the carrying value of the trade debtor. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in the Statement of Financial Activities.

Financial liabilities

Financial instruments are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Trade creditors and other creditors

Trade and other creditors (including accruals) payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being transaction price less any amounts settled. The College has no creditors that would constitute a financing transaction.

Fund

accounting

Endowment funds comprise monies which must be held indefinitely as capital. Income therefrom is credited to general funds and applied for general purposes, unless under the terms of the endowment such income must be used for specific purposes, in which case it is credited to restricted funds.

The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor-imposed conditions. The designated funds are monies set aside out of general funds and designated for specific purposes by the Members of the Board of Trustees. The Board of Trustees has the power to reallocate such funds within unrestricted funds unless and until expended.

The general fund comprises those monies which are freely available for application towards meeting the charitable objectives of the College at the discretion of the Board of Trustees.

Principal accounting policies

Operating leases

Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged to the statement of financial activities on a straight line basis over the lease term.

Finance leases

Rentals applicable to finance leases, where substantially all of the benefits and risks of ownership rest on the lessee, are capitalised at the guaranteed minimum lease payments where any interest is not material to the financial statements. Assets subject to finance leases are depreciated over their terms.

The commitments of the minimum lease payments are recognised as creditors in the balance sheet.

Pension

costs

College staff are entitled to join a defined contribution ‘money purchase scheme’. Contributions in respect of the College’s money purchase scheme are charged to the statement of financial activities in the year in which they are payable to the scheme. The costs of the money purchase scheme are included within support and governance costs and charged to the unrestricted funds of the College using the methodology set out in the basis of overheads allocation.

Pension contributions unpaid at 31st December are included in other creditors.

The money purchase scheme is managed by Standard Life Assurance Limited and the plan invests the contributions made by staff and the College in an investment fund to build up over the term of the plan. The pension fund is then converted into a pension upon the staff’s normal retirement age which is defined as when they are eligible for a state pension. The College has

no liability beyond making its contributions and paying across the deductions for staff contributions.

New staff are automatically enrolled into the money purchase scheme unless they have exercised their right to opt out.

Accounting estimates and key judgements

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. During the year there are no accounting estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. Freehold land - the total value of the land is estimated at £200k and is included in freehold buildings.

Freehold buildings – the College’s freehold buildings are not depreciated as the College has a policy of maintaining them in such a condition that their value is not impaired by the passage of time and that their residual value is deemed greater than carrying value. If the College’s freehold buildings were depreciated the charge for the year would have been £331k. Heritage assets – have been recognised in the Balance Sheet at market value. Market valuation is sought where significant changes have been made to the collection. Due to the nature of the heritage assets they are not depreciated and the College Trustees are of the opinion that any provision for depreciation would not be material and that the heritage assets are worth at least their book value.

The investment property has been recognised in the Balance Sheet at market value of £688k. The property had been valued based on the valuation survey carried by Winkworth – Sales, Lettings and Management Agents in January 2023 and reviewed annually by the College Trustees taking into consideration the current property market prices for similar properties in the same area.

78 Financial statements

Financial statements 79

Notes to the accounts

Notes to the accounts

1 Donations and investment income

Unrestricted
£’000
Restricted
£’000
Endowment
£’000
2022
£’000
2023
£’000
Income
Dividends 202
–
10
212
170
Bank interest 159
–
–
159
22
Investmentpropertyincome 26
–
–
26
23
Donations and gifts 22
–
–
22
56
2023 409
–
10
419
2022 161
93
3
271

3 Education and training

3 Education and training
Unrestricted
£’000
Restricted
£’000
2022
£’000
2023
£’000
429
–
429
470
957
–
957
892
19
1,047
1,066
1,230
1,467
–
1,467
1,182
1,252
–
1,252
852
3,360
–
3,360
3,191
655
–
655
770
Income
Examinations
Online continuing professional development
Centre for Advanced Learningand Conferences
Grants for education and training (note 8)
International Congress
Faculties, Divisions, Devolved Councils and
Special Interest Groups’ meetings
Publications and journals
2023 8,139
1,047
9,186
2022 6,560
834
8,587

2 Standard setting and research

2 Standard setting and research
Unrestricted
£’000
Restricted
£’000
2022
£’000
2023
£’000
Income
Specialist registration (Article 14 assessment) 32
–
32
24
Grants receivable (note 8) 376
993
1,369
2,091
CCQI Subscription to network review 4,493
–
4,493
4,402
Miscellaneous income 310
–
310
111
2023 5,211
993
6,204
2022 4,426
1,885
6,628

4 Member services and support

4 Member services and support
Unrestricted
£’000
Restricted
£’000
2022
£’000
2023
£’000
Income
Members’ and Associates’ subscription and registration fees 7,430
–
7,430
6,701
Miscellaneous income 120
–
120
114
2023 7,550
–
7,550
2022 6,681
–
6,815

5 Communications and policy

5 Communications and policy
Unrestricted
£’000
Restricted
£’000
2022
£’000
2023
£’000
Income
Sales ofpublic education material 8
–
8
13
Grants (note 8) –
–
–
75
Miscellaneous income 23
–
23
22
2023 31
–
31
2022 27
88
110

Financial statements Financial statements 8149

80 Financial statements

Notes to the accounts

Notes to the accounts

6 Analysis of expenditure (current year)

Standard setting
& research
£’000
Education
& training
£’000
Member services
& support
£’000
Communications
& policy
£’000
2023
£’000
Prize
funds
£’000
Cost of raising
funds
£’000
Charitable activities
Staf costs 2,209
2,755
1,658
–
12,199
5,414
163
Grant fundingof activities 502
–
42
–
831
287
–
Other direct costs 3,474
890
418
1
6,087
1,169
135
Support services costs (note 7 )
1,095
1,196
679
–
5,650
2,600
80
Total expenditure 2023 4,841
2,797
1
24,767
9,470
7,280
378

Analysis of expenditure (prior year)

----- Start of picture text -----
Charitable activities
Cost of raising funds£’000 Standard setting & research£’000 Education & training£’000 Member services & support£’000 Communications & policy£’000 funds£’000Prize £’0002022
Staff costs 158 4,814 2,012 2,567 1,544 – 11,095
Grant funding of activities – 464 404 – 88 – 956
Other direct costs 105 847 3,105 732 348 7 5,144
Support services costs (note 7) 81 2,720 1,194 1,248 720 – 5,963
Total expenditure 2022 344 8,845 6,715 4,547 2,700 7 23,158
----- End of picture text -----

7 Allocation of support services costs

----- Start of picture text -----
Information Financial Human
Governance Technology Facilities Services Resources 2023 2022
£’000 £’000 £’000 £’000 £’000 £’000 £’000
----- End of picture text -----
Activities
Raisingfunds 22
15
17
80
81
22
4
Standard settingand research 708
494
547
2,600
2,720
733
118
Education and training 298
208
230
1,095
1,194
309
50
Members services and support
227
252
1,196
1,248
337
326
54
Communications and policy 185
129
143
679
720
191
31
2023 1,539
1,073
1,189
5,650
1,592
257
2022 1,225
1,380
5,963
1,646
1,411
301

The methods and principles for allocation and apportionment of costs are included in the accounting policies on page 74.

Governance
£’000
Information
Technology£’000
Facilities
£’000
Financial Services
£’000
Total
£’000
Human Resources
£’000
2023 784
369
418
631
2,346
144
2022 711
419
368
616
2,255
141

Total expenditure include:

Total expenditure include:
2022
£’000
2023
£’000
Auditor’s remuneration
Audit 26
24

Financi al statements al statements 4983

82 Financial statements

Notes to the accounts

Notes to the accounts

8 Grants receivable

8 Grants receivable 8 Grants receivable
Unrestricted
£’000
Restricted
£’000
2022
£’000
2023
£’000
Standard setting and research
– HQIP
–
807
807*
742
– NHS England
266
186
452*
584
– NHS Race and Health Observatory
79
–
79
83
– SHRINE/Guy’s and St Thomas’ NHS Foundation Trust
14
–
14*
30
– Tavistock and Portman NHS Foundation Trust* 32
–
32
29
– NHS Wales* 4
–
4
25
– Health Education England* –
–
–
227
– NHS Trust Development Authority –
–
–
225
– Scottish Government* –
–
–
100
– Camden & Islington NHS Foundation Trust –
–
–
13
–
–
–
23
– Education Support Partnership
– Other (19)
–
(19)
10
376
993
1,369
2,091
Education and training 19
1,043
1,062
–
– NHS England*
– National Collaborative Commissioning Unit* –
4
4
–
– Health Education England* –
–
–
1,137
– General Medical Council –
–
–
68
– NHS Scotland* –
–
–
20
– Home Ofce –
–
–
5
19
1,047
1,066
1,230
Communications and policy
– Health Education England* –
–
–
75
–
–
–
75
2023 395
2,040
2,435
2022 629
2,767
3,396

*Grants receivable from Government bodies

During 2023 Health Education England and NHS Trust Development Authority have merged with NHS England.

9 Related party transactions

10 Staff remuneration

10Staff remuneration
Total 2023
£’000
Total 2022
£’000
Staf costs duringtheyear were as follows:
Wages and salaries 11,270
10,147
Social securitycosts 1,229
1,142
Pension costs 729
644
13,228
11,933
Non-payroll and temporary/agencystaf 1,318
1,417
14,546
13,350

The following table shows the number of staff who earned in excess of £60,000 per annum (including taxable benefits but excluding employer pension contributions) during the year. Where post-holders left part way through the year, their salary band is pro rata.

2023
2022
£60,001 — £70,000 11
10
£70,001 — £80,000 7
8
£80,001 — £90,000 2
1
£90,001 — £100,000 –
2
£100,001 — £110,000 4
2
£110,001 — £120,000 2
1
£120,001 — £130,000 1
–
£140,001 — £150,000 –
–
£140,001 — £150,000 1
1
£160,001 — £170,000 –
1

Employer contributions are made to money purchase pension schemes in respect of all 29 (2022: 26) staff who earned £60,000 or more during the year (as defined above). During the year this amounted to £201,925 (2022: £172,920).

The average number of staff during the year, regardless of their work pattern is analysed as follows:

2023
2022
In furtherance of the College’s charitable activities 361
328
In supportingthe College’s activities andgovernance 45
39
406
367

There were no related party transactions in 2023 or in 2022. Key management personnel (KMP) and Trustees expenses remuneration is disclosed in notes 10 and 11 respectively.

Financial statements 85

84 Financial statements

Notes to the accounts

Notes to the accounts

13

Although the College Trustees control and manage the administration of the College, the day-to-day management of its activities is delegated to the Chief Executive Officer and the Senior Management Team. The total employment benefits of the key management personnel were £1,320k (2022: £1,227k) including employer pension contributions and National Insurance Contributions.

The College has a non-cash staff recognition award programme. The awards are open to individuals. A number of awards have been made to recognise the outstanding achievement or contribution of staff. During the year, £10k (2022: £15k) was spent on staff awards and the staff social club.

During the year statutory redundancy payments totalled £5k (2022: £10k) and no termination payments were made (2022: £nil) during the year.

11 Remuneration and reimbursement to College Trustees

The College has adequate systems in place to manage expenses. Reimbursement of expenses does not form part of the remuneration.

No member of the Board of Trustees received remuneration in respect of their services as a member of the Board of Trustees during the year (2022: £nil). The College President had received a benefit in kind of £6k (2022: £7k) for the provision of a flat in Aldgate, near the College headquarters.

None of the Trustees (2022: £nil) received remuneration in respect of their services provided as an examiner, editor or other capacities during the year. None of the Trustees (2022: nil) were reimbursed for travel expenses (2022: £nil) for attendance at Board of Trustees meeting during the year. Travel expenses of £75,293 (2022: £63,122) were reimbursed to eight (2022: eight) Trustees for other duties. Other duties include College Trustees representing the College at the American Psychiatric Association Annual Meeting, Annual National Conference of Indian Psychiatric Society (ANCIPS), Sri Lanka College of Psychiatrists, WPA World Congress of Psychiatry, and other College conferences and College meetings.

No member of the Board of Trustees had any beneficial interest in any contract with the College during the year (2022: £nil).

12 Taxation

The College is a registered charity and therefore is exempt from income tax and corporation tax on income arising from its charitable activities. The College is registered for VAT but is not able to recover all VAT suffered on expenditure due to partial exemption rules.

CRM
£’000
Website
£’000
Other software
£’000
eLearning platform
£’000		 Total
£’000
Cost or valuation
627
262
196
At 1 January2023
280		 1,365
Additions
–
–
–
–		 –
At 31 December 2023
627
262
196
280		 1,365
Amortisation
At 1 January 2023
627
238
112
112		 1,089
Charge foryear
–
8
21
56		 85
At 31 December 2023
627
246
133
168		 1,174
Net book value
At 31 December 2023
–
16
63
112		 191
At 31 December 2022
–
24
84
168		 276

14

Freehold land and
buildings Cost
£’000
Leasehold land and
buildings Cost
£’000
Equipment,
furniture and
fttings Cost £’000
Computers
and IT Cost
£’000		 Total
£’000
Cost or valuation
16,816
503
1,323
350
At 1 January2023		 18,992
Additions
–
–
223
–		 223
Disposals
–
–
(220)
(14)		 (234)
At 31 December 2023
503
1,326
336
16,816		 18,981
Depreciation
At 1 January 2023
–
20
840
329		 1,189
Charge foryear
–
4
83
21		 108
Disposals
–
–
(105)
(14)		 (119)
–
24
818
336
At 31 December 2023		 1,178
Net book value
At 31 December 2023
16,816
479
508
–		 17,803
At 31 December 2022
16,816
483
483
21		 17,803

86 Financial statements

Financial statements 87

Notes to the accounts

Notes to the accounts

Included within the freehold land and buildings balance is £2,260k (2022: £2,260k) in relation to the 4th Floor of the College’s headquarters and is classed as an investment property which is used for short term lets to organisations not working to fulfil the College’s objectives. Freehold land and buildings are not depreciated as the College has a policy of maintaining them in such a condition that their value is not impaired by the passage of time. The net book value of equipment, furniture and fittings included £107k (2022: £114k) in respect of assets held under finance leases. The amount of depreciation charged for the year in respect of such assets amounted to £19k (2022: £18k) and the finance charges amounted to £8k (2022: £7k).

The net book value of leasehold land and buildings represents the College flat in Aldgate, which is available for College Trustees to use. Assets acquired using restricted funds are expensed in the statement of financial activities in the year of purchase.

15 Heritage assets

The College owns a collection of antiquarian books, some of which date back to the fifteenth century. Most of the books were donated to the Medico-Psychological Association and the Royal Medico-Psychological Association, predecessor bodies of the College, from 1895. The donations were in the form of gifts and bequests towards the development of the Associations’ library. The donations came from the libraries of doctors Daniel Hack Tuke, J Lord, C Lockhart Robertson and J Whitwell. Since 2013, the College has also received donations of antiquarian books from the families of the late Professor Neil Kessel, valued at £6k, and Dr Henry Rollin, a past Honorary Librarian. This donation consisting of books and personal papers is yet to be valued. The collection contains English, French and

German language books written by notable authors such as John Charles Bucknill, Henry Maudsley, John Conolly, Sigmund Freud, Emil Kraepelin and Charles Darwin. The collection also contains eighteenth century MD (Doctor of Medicine) dissertations in Latin submitted to various European Universities.

The collection is an important source of information on the history of psychiatry, psychology, mental illness and intellectual disability.

In 2002 the College received the Wellcome Trust’s Research Resources in Medical History Award to restore and conserve part of the collection. The remainder of the collection which requires restoration, is now being conserved by the College’s adopt-a-book scheme. Over 100 books have now been restored since the establishment of the scheme in 2007. Over 60 books have also been restored using College funds.

All the books excluding the dissertations have been catalogued using the Soutron Library Management System. The catalogue is reviewed, updated and maintained by the Library staff, whilst the preservation and conservation of the collection is the responsibility of the Archivist. The catalogue can be searched online via the College website and COPAC (Consortium of Online Public Access Catalogues).

The College also has an archives collection with records dating back to 1841. The archives comprise institutional records, deposited archives and manuscripts, and mental nursing examination papers. The collection is being catalogued using Axiell Collections Management System.

The College has an Archives Collections Development Policy. The primary aim of the policy is to collect, maintain, document, preserve and conserve the corporate history and heritage of the College.

The archives and books are held in appropriate environmentally controlled conditions on the premises and access to these collections is governed by the College’s Archives Access Policy.

Analysis of heritage assets

2023
£’000		 2022
£’000		 2021
£’000		 2020
£’000		 2019
£’000
Carryingamount at 1 January 330 330 215 215 215
Additions 15 – 4 – –
Revaluation – – – – –
Transfer – – 111 – –
Carryingamount at 31 December 345 330 330 215 215

Additions to heritage assets included the outgoing presidents’ portrait.

There has been no movement in the year to the collection of books.

16 Investments

Listed
investments		 Investment
property		 2023
£’000		 2022
£’000
Investments
Fair value at 1 January 13,718 688 14,406 16,774
Additions at cost 2,891 – 2,891 2,434
Disposal proceeds (1,960) – (1,960) (3,040)
Net realised investment (loss)/gains 30 – 30 (217)
Net unrealised investment (loss)/gains 1,452 – 1,452 (1,545)
Fair value at 31 December 16,131 688 16,819 14,406
Cash held byinvestment managers in UK for reinvestment 633 – 633 1,457
16,764 688 17,452 15,863
Cost of investments at 31 December 14,063 205 14,268 13,625

88 Financial statements

Financial statements 89

Notes to the accounts

Notes to the accounts

Investments

Investments held at 31 December 2023 comprised the following:

2023
£’000		 2022
£’000
Fixed Interest Bonds
– United Kingdom
720		 144
– Overseas
1,683		 1,472
Equities
– United Kingdom
464		 425
11,388
– Overseas		 9,775
Property
205		 305
Alternatives & other investments
1,671		 1,597
Cash held for reinvestment
633		 1,457
16,764 15,175
Investment property
688		 688
17,452 15,863

Investment property comprises a leasehold flat let on a short-term basis. This represents the net transfer of the leasehold flat in Pimlico from the leasehold land and buildings (tangible fixed assets) to investment property made during 2018.

It is measured at fair value with gains and losses recognised in profit and loss at the end of the reporting period. There are no restrictions on the ability to realise investment property and on the remittance of income or proceeds of the investment property disposal. There are no contractual obligations for the purchase, construction or development of the investment property or for repairs, maintenance or enhancements. The College’s investment property has been valued by Winkworth – Sales, Lettings and Management Agents in January 2023 and further reviewed and confirmed by the College Trustees, taking into account the current housing market prices for similar properties in the same area at the year-end 2023.

17 Debtors

2023
£’000		 2022
£’000
Trade debtors 2,768 1,926
Prepayments 700 520
Accrued income 1,226 1,101
Other debtors 15 6
4,709 3,553

18 Creditors: amounts falling due within one year

2023
£’000		 2022
£’000
Expense creditors 1,416 1,012
Deferred income 3,455 3,334
Other creditors 365 257
Accruals 1,126 953
Obligations under fnance leases 22 23
Other tax and social security 519 465
6,903 6,044

Financial statements 91

90 Financial statements

Notes to the accounts

Notes to the accounts

Movement in deferred income

Movement in deferred income
Realised to
SOFA
£’000
Deferred
in year
£’000
Balance b/f
1 January 2023
£’000
Balance c/f
31 December
2023 £’000
Membership subscriptions received in advance 280
(280)
240
240
Examination fees received in advance 557
(557)
626
626
Journal subscription received in advance (71)
93
93
71
Grants received in advance 73
(73)
4
4
CCQI subscription to network review in advance 2,082
(2,082)
2,338
2,338
Trainingincome received in advance 271
(271)
154
154
Total 3,334
(3,334)
3,455
3,455
Amounts to be released in more than 1year (note 19)
CCQI subscription to network review in advance 1,129
(690)
639
1,078
Total 4,463
(4,024)
4,094
4,533

Movement in deferred income

Realised to
SOFA
£’000
Deferred in
year
£’000
Balance b/f
1 January 2022
£’000
Balance c/f
31 December
2022 £’000
Membership subscriptions received in advance 250
(250)
280
280
Examination fees received in advance 530
(530)
557
557
Journal subscription received in advance (84)
71
71
84
Grants received in advance 375
(375)
73
73
CCQI subscription to network review in advance 1,931
(1,931)
2,082
2,082
Training income received in advance 203
(203)
271
271
Cambridge UniversityPress transition income 23
(23)
–
–
Total 3,396
(3,396)
3,334
3,334
Amounts to be released in more than 1year (note 19)
CCQI subscription to network review in advance 884
(585)
830
1,129
Total 4,280
(3,981)
4,164
4,463

19 Creditors: amounts falling due after more than one year

19 Creditors: amounts falling due after more than one year
2023
£’000
2022
£’000
CCQI subscription to network review in advance
– twoyears 885
882
– two to fveyears 193
247
1,078
1,129
Obligations under fnance leases
– twoyears 21
23
– two to fve years 87
71
108
94
1,186
1,223

20 Endowment fund

At 1 January Incoming Transfers At 31 December
£’000 resources £’000 £’000 £’000
MaryMargaret Slack 262 10 (10) 262
2023 262 10 (10) 262
2022 262 3 (3) 262

The interest from this fund is applied towards a travelling fellowship to enable a psychiatric trainee working in the UK to attend a centre of excellence in the UK or abroad.

Deferred income relates to income received in advance to which the College is not entitled until future years.

Financial statements 93

92 Financial statements

Notes to the accounts

Notes to the accounts

21 Restricted funds

The income funds of the College include restricted funds comprising the following unexpended balances of donations and grants held on trust to be applied for specific purposes:

At 1 January 2023
£’000
Incoming
resources £’000
Resources
expended £’000
Transfers
£’000
At 31 December
2023 £’000
Member and trainee services 1,200
1,047
(938)
38
1,347
Donations received for specifcpurposes 659
–
(20)
(538)
101
Other funds for specifc purposes (note 22) 51
–
(1)
10
60
Total Member and trainee Services 1,910
1,047
(959)
(490)
1,508
Restricted research funds 111
993
(1,640)
848
312
Otherprojects 143
–
(42)
(58)
43
2023 2,164
2,040
(2,641)
300
1,863

Member and trainee services

The fund will be applied towards the training and education of psychiatrists and trainees world-wide.

During 2023, the College received £1,043k from NHS England towards various projects: Autism Training Psychiatry, Foundation Fellows, Credential, Perinatal and Health Inequalities and to support training, recruitment and retention in psychiatry. In addition, £4k has been received from National Collaborative Commissioning Unit to deliver Electroconvulsive Therapy Services in Wales Review.

purposes

The fund represents external donations received towards specific purposes.

Transfers

A transfer of £38k (2022: £33k) from donations received for specific purposes into member and trainee services represents expenditure incurred in relation to Neuroscience, in accordance with restrictions in donations. A transfer of £500k from donations received for specific purposes and £58k from other projects into restricted research funds for expenditure incurred on research projects. In addition, £290k has been transferred from general fund for expenditure incurred on Mental Health Safety Improvement Programme (MHSIP). The transfer of £10k from other funds for specific purposes represents the return on the endowment fund.

Other projects

This represents the following projects:

At 1 January 2022
£’000
Incoming
resources £’000
Resources
expended £’000
Transfers
£’000
At 31 December
2022 £’000
Member and trainee services 716
1,195
(744)
33
1,200
Donations received for specifcpurposes 646
46
–
(33)
659
Other funds for specifc purposes (note 22) 55
–
(7)
3
51
Total Member and trainee Services 1,417
1,241
(751)
3
1,910
Restricted research funds 444
1,467
(1,800)
–
111
Otherprojects 198
75
(130)
–
143
2022 2,059
2,783
(2,681)
3
2,164

This is represented by the individual balances of funds set up to accommodate donations and bequests and to be applied for prizes and other specific purposes. The transfer made into the fund represents the interest generated £10k (2022: £3k) from the endowment fund. This is applied towards a travelling fellowship to enable a psychiatric trainee working in the UK to attend a centre of excellence in the UK or abroad.

Choose Psychiatry Campaign

This is restricted funding received from the Health Education England towards the Choose Psychiatry Campaign to retain a higher proportion of core trainees in psychiatry.

Restricted research funds

The funds represent external funding to be used for the College’s research activities.

Financial statements 95

94 Financial statements

Notes to the accounts

Notes to the accounts

22

At 1 January 2023
£’000
Incoming
resources £’000
Resources
expended £’000
Incoming/(outgoing)
Transfers £’000
At 31 December
2023 £’000
Prize Funds 13
_
(1)
–
12
TravellingFellowships 32
–
–
10
42
Other Funds 6
–
–
–
6
2023 51
–
(1)
10
60
At 1 January 2022
£’000
Incoming
resources £’000
Resources
expended £’000
Incoming/(outgoing)
Transfers £’000
At 31 December
2022 £’000
Prize Funds 16
_
(3)
–
13
TravellingFellowships 33
–
(4)
3
32
Other Funds 6
–
–
–
6
2022 55
–
(7)
3
51

The transfer made into the Travelling Fellowship fund represents the interest generated £10k (2022: £3k) from the endowment fund. This is applied towards the Margaret Slack Travelling Fellowship fund to enable a psychiatric trainee working in the UK to attend a centre of excellence in the UK or abroad.

23 Unrestricted funds

Incoming
resources
£’000
Resources
expended
£’000
Incoming /
(outgoing)
Transfers £’000
Other recognised
gains and losses
£’000
At 31 December
2023
£’000
At 1 January
2023
£’000
Designated funds (note 24) 28
–
(447)
–
20,326
20,745
General fund 21,658
(22,126)
157
1,482
12,392
11,221
2023 21,686
(22,126)
(290)
1,482
32,718
31,966
Incoming
resources
£’000
Resources
expended
£’000
Incoming /
(outgoing)
Transfers £’000
Other recognised
gains and losses
£’000
At 31 December
2022
£’000
At 1 January
2022
£’000
Designated funds (note 24) 28
–
(579)
–
20,745
21,296
General fund 19,866
(20,402)
579
(1,768)
11,221
12,946
2022 19,894
(20,402)
–
(1,768)
31,966
34,242

The transfer made between the general fund and the designated funds represent £70k (2022: £123k) to reflect the net present value of the College’s fixed assets, £105k (2022: £64k) towards repairs to the roof, upgrade to air conditioning units and other building improvement works at 21 Prescot Street, £265k (2022: £381k) towards hybrid events AV and meeting rooms upgrade, improvements to members website and membership database, and £7k contribution from the Academic Bursaries fund towards the Masonic PhD Studentship.

96 Financial statements

Financial statements 97

Notes to the accounts

Notes to the accounts

24 Designated funds

The income fund of the College includes the following designated funds which have been set aside out of unrestricted funds by the College Trustees for specific purposes:

At 1 January 2023
£’000
New designations
£’000
Transfers
£’000
At 31 December
2023 £’000
Fixed asset fund 18,409
–
(70)
18,339
Repairsprovision 1,164
28
(105)
1,087
Digital improvement fund 1,119
–
(265)
854
Academic bursaries 7
–
(7)
–
Trainee fund 46
–
–
46
2023 20,745
28
(447)
20,326
At 1 January 2022
£’000
New designations
£’000
Transfers
£’000
At 31 December
2022 £’000
Fixed asset fund 18,532
–
(123)
18,409
Repairsprovision 1,200
28
(64)
1,164
Digital improvement fund 1,500
–
(381)
1,119
Academic bursaries 18
–
(11)
7
Trainee fund 46
–
–
46
2022 21,296
28
(579)
20,745

Repairs provision

Fixed asset fund

The fund exists to finance major repairs and maintenance of College buildings. In 2023, an outgoing transfer of £105k (2022: £64k) into the general fund for expenditure incurred on repairs to the roof, upgrade to air conditioning units and other building improvement works. The objective of the fund is for major repairs and maintenance to the College’s headquarters including the roof, lifts and air conditioning system. Planned maintenance works for 2024 include lift refurbishment, fire panel upgrade, building management system and other building improvement works at the College’s headquarters.

This represents the net book value of all intangible and tangible fixed assets held by the College, including heritage assets.

Academic bursary fund

Digital Improvement fund

An outgoing transfer of £7k into general funds is a contribution towards the Masonic PhD Studentship.

The fund, established in 2021 for future replacement and investment into information systems. The fund will be used to support the College’s core IS projects including upgrading the members website, new membership database, new finance system, hybrid events AV and meeting rooms upgrade, and other core IS infrastructure. The fund will allow for investments in upgrades and improvements to be made in a prudent and planned way. In 2023, an outgoing transfer of £265k (2022: £381k) into the general fund for expenditure incurred on hybrid events AV and meeting rooms upgrade, improvements to membership database and members website. Planned projects for 2024 include replacement to the membership database, new finance system, helpdesk solution, AI tools and development to member sites.

Trainee fund

The fund, established in 2012, represents amounts set aside from the excess of examination surplus to be spent towards trainees. It applies only if examinations surplus in a year represents more than 10% of examinations income. In 2023, the excess above the agreed threshold was £nil (2022: £nil). The Trustees are yet to agree how the remaining balance of the fund is to be spent on trainees. During 2024 the Psychiatric Trainees’ Committee will be invited to make proposals on how the funds can be used to benefit trainees.

25 Analysis of net assets between funds

General fund
£’000
Designated funds
£’000
Restricted funds
£’000
Endowment funds
£’000
Total 2023
£’000
Fund Balances at 31 December 2023 are represented by:
Fixed assets –
18,339
–
–
18,339
Investments 17,190
–
–
262
17,452
Current assets 3,272
1,987
1,863
–
7,122
Creditor: amounts falling due within oneyear (6,903)
–
–
–
(6,903)
Creditor: amounts fallingdue after more than oneyear (1,167)
–
–
–
(1,167)
2023 12,392
20,326
1,863
262
34,843

Financial statements 99

98 Financial statements

Notes to the accounts

Analysis of net assets between funds

General fund
£’000
Designated funds
£’000
Restricted funds
£’000
Endowment funds
£’000
Total 2022
£’000
Fund Balances at 31 December 2022 are represented by:
Fixed assets –
18,409
–
–
18,409
Investments 15,601
–
–
262
15,863
Current assets 2,887
2,336
2,164
–
7,387
Creditor: amounts falling due within oneyear (6,044)
–
–
–
(6,044)
Creditor: amounts fallingdue after more than oneyear (1,223)
–
–
–
(1,223)
2022 11,221
20,745
2,164
262
34,392

About this re ort p

26 Leasing commitments

Operating leases

At 31st December 2023 the College had total future minimum payments under non-cancellable operating leases as follows:

2022
£’000
2023
£’000
2022
£’000
2023
£’000
Land and buildings
Other
Other
Amount due:
Within oneyear 80
37
22
15
Within two to fveyears 113
10
3
17
More than fveyears 80
–
–
–
Total commitment 273
47
25
32

27

2022
£’000
2023
£’000
Amount due:
Within oneyear 21
23
Within two to fveyears 87
94
Total commitment 108
117

Obligations under finance leases are secured on the related asset. At 31st December 2023 the College had net obligations under finance leases as disclosed in notes 18 and 19.

This is the report of the Board of Trustees of the Royal College of Psychiatrists, including the accounts of the College, for the year ended 31 December 2023. The accounts have been prepared in accordance with the accounting policies set out on pages 75 to 79 of the attached accounts and comply with the College’s Charter, applicable laws and the requirements of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102.

College objectives and activities

In 1971, the College was established to:

• Promote study and research work in psychiatry – and all sciences and disciplines connected with the understanding and treatment of mental disorder in all its forms and aspects, and related subjects – and publish the results of all this study and research.

As a registered charity (number 228636 with the Charity Commission for England and Wales and number SC038369 with the Office of the Scottish Charity Regulator), we have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities we undertake. This annual report sets out the details of our work in 2022 that demonstrates public benefit. The College is a registered charity incorporated by Royal Charter. The College’s affairs are managed and regulated in accordance with its Bye-Laws and Regulations.

The Trustees are satisfied that all strands of the College’s activities come under the overarching goal of improved mental health for all, and therefore work both directly and indirectly toward the benefit of the public.

100 Financial statements

About this report 101

The committees of the College during 2023 were:

Board of Trustees

Our governance

President Dr Adrian James (to 10 July 2023) Dr Lade Smith CBE (from 10 July 2023) Registrar Dr Trudi Seneviratne Dean Professor Subodh Dave Treasurer Professor John Crichton Devolved Council Chair Dr Richard Wilson Divisional representative Professor Rafey Faruqui Faculty representative Dr Josanne Holloway Elected representatives Professor John Gunn (to 10 July 2023) Dr Billy Boland (from 10 July 2023) Lay Trustees Cindy Leslie Meera Nair Sally Spensley Karen Turner

stees is the principal The relevant qualifcations and expertise for Registrar Dr Trudi Seneviratne
the College. The remit
set out in Section		 the Lay Trustees include, but are not limited to,
the felds of fnance, business management,		 Dean Professor Subodh Dave
Board of Trustees has mental health strategy and development,
trol of the College
d afairs) and of the
her than those afairs		 work with patients and carers, charity law and
organisation. Potential Lay Trustees are sought
by advertisement and are interviewed and		 Treasurer
Devolved Council Chair		 Professor John Crichton
Dr Richard Wilson
he responsibility of appointed by a panel that comprises (one or
arter or the Bye- more of): the President, Registrar, Dean and Divisional representative Professor Rafey Faruqui
ur times a year, Treasurer.
meeting of Council. Trustees are required to attend the College Faculty representative Dr Josanne Holloway
mbership, comprises
one Devolved		 induction and also have a one-to-one
induction with the Chief Executive, Director		 Elected representatives Professor John Gunn (to 10 July 202
Chair; one Division of Finance and Operations and other Senior Dr Billy Boland (from 10 July 2023)
r or Specialist Management Team members, where their
Lay Trustees.
ted by fellows		 responsibilities are explained, and they receive
a copy of the College’s Constitution and		 Lay Trustees Cindy Leslie
Meera Nair
ir election process Strategic Plan, policies and procedures, and Sally Spensley
ng opportunities a job description. In addition, Trustees are Karen Turner
t, a short video on
ent in RCPsych Insight		 able to select to attend further Trustee and
Governance specifc learning opportunities.
The Board of Trustees are aware of the Charity
r selection of the Governance Code published in 2020 which
d Councils, the one
ir of Division and
ember of College or
spectively referred to		 sets out the principles and recommended
practice for good governance within the
sector. The Board of Trustees held a Board
Review session in January 2024, in which		 Finance Management Committee
(sub-committee of the Board of Trustees)
d 2(g) of Section XVII Trustees considered their performance as
a board and compared the way they work,
and are supported, in comparison with the		 Chair Professor John Crichton
recommendations for best practice, as set out
in the Charity Commission Governance Code		 Divisional representative Dr Muhammad Gul
for Larger Charities. Overall, it was agreed there
was a high level of compliance with the Code.		 Faculty representative Dr Mani Santhanakrishnan
Devolved Nation representativesDr Linda Findlay (to 1 August 2023)
Dr Jane Morris (from 1 August 2023)
Lay Trustees Cindy Leslie
Sally Spensley

The College’s Board of Trustees is the principal governance body within the College. The remit of the Board of Trustees is set out in Section XVIII of the Bye-Laws. The Board of Trustees has full management and control of the College (including its property and affairs) and of the administration thereof (other than those affairs which are designated as the responsibility of the Council under the Charter or the ByeLaws). The Board meets four times a year, usually two weeks after a meeting of Council. The Board of Trustees membership, comprises of the Honorary Officers; one Devolved Council Chair; one Faculty Chair; one Division Chair; one Fellow, Member or Specialist Associate; and up to four Lay Trustees. Honorary Officers are elected by fellows and members. During their election process they are given campaigning opportunities including a hustings event, a short video on the College site, a statement in RCPsych Insight and an online Q&A.

The prescribed manner for selection of the one Chair of the Devolved Councils, the one Faculty Chair, the one Chair of Division and the election of the one Member of College or Specialist Associate (as respectively referred to in paragraphs 2(e), 2(f) and 2(g) of Section XVII of the Bye-Laws).

102 Our governance

Our governance 103

Council

Council

President Dr Adrian James (to 10 July 2023) Dr Lade Smith CBE (from 10 July 2023 Treasurer Professor John Crichton Registrar Dr Trudi Seneviratne Dean Professor Subodh Dave Chairs of Devolved Administrations RCPsych in Northern Ireland Dr Richard Wilson RCPsych in Scotland Dr Linda Findlay (1 August 2023) Dr Jane Morris (1 August 2023) RCPsych in Wales Dr Maria Atkins Chairs of English Divisions Eastern Dr Kallur Suresh London Dr Suhana Ahmed Northern & Yorkshire Dr Paul Walker North West Dr Nishanth Babu Mathew South East Dr Rafey Faruqui South West Dr Rohit Shankar Trent Dr Shahid Latif West Midlands Dr Muhammad Gul Chairs of Faculties

Academic Professor Hugo Critchley Addictions Dr Emily Finch Child & Adolescent Dr Elaine Lockhart Eating Disorders Dr Agnes Ayton (to 11 July 2023) Dr Ashish Kumar (from 11 July 2023) Forensic Dr Josanne Holloway General Adult Dr Billy Boland (to 11 July 2023) Dr Jon van Niekerk (from 11 July 2023) Intellectual Disability Dr Indermeet Sawhney Liaison Dr Annabel Price (to 11 July 2023) Dr Alex Thomson (from 11 July 2023)

Chairs of Faculties

Chairs of Faculties
Medical Psychotherapy
 Dr Jo O’Reilly
Neuropsychiatry
 Dr Michael Dilley
Old Age
 Dr Mani Santhanakrishnan
Perinatal
 Dr Joanne Black (to 6 June 2023)
Dr Cressida Manning (from 6 June 2023)
Rehabilitation & Social
 Dr Sunil Nodiyal
Chairs of Committees of Council
Conferences & Advanced Learning
 Dr Abdul Raoof
Electroconvulsive Therapy &
Related Treatments Committee
 Dr Rich Braithwaite
Leadership & Management
 Dr Helen Crimlisk
Professional Practice & Ethics
 Dr Abdi Sanati (from 1 April 2022)
Psychiatric Trainees’ Committee
 Dr Chris Walsh (to 28 September 2023)
Dr Laura Thorn (from 28 September 2023)
Psychopharmacology
 Professor Oliver Howes
Policy & Public Afairs Committee
 Dr Trudi Seneviratne
Publications Management Board
 Professor Kam Bhui (to 11 July 2023)
Professor Gin Malhi (from 11 July 2023)
Chief Examiner
 Dr Ian Hall
Elected Fellows and Members Dr Mayura Deshpande
Dr Ian Hall
Dr Declan Hyland
Dr Abdi Sanati
Co-Opted Members
CCQI
 Dr Dasha Nicholls
Dr Mary Docherty
NCCMH
 Professor Tim Kendall
SAS
 Dr Lily Read

104 Our governance

Our governance 105

----- Start of picture text -----
Principal registered office
Charity Commission for England and
Wales Registration number
----- End of picture text -----

----- Start of picture text -----
21 Prescot Street
London E1 8BB
Telephone: 020 8918 4000
Website: www.rcpsych.ac.uk
228636
----- End of picture text -----

International Divisions

The International Divisions of the College are:

Dr Neil Horn Dr Angela Carballedo Dr Ovais Wadoo Prof Ken Kaufman Dr Manoj Kumar Professor Steve Kisely

----- Start of picture text -----
Office of the Scottish Charity Regulator
Registration number
Statutory Auditor
Internal Auditors
Principal bankers
----- End of picture text -----

----- Start of picture text -----
SC038369
Haysmacintyre LLP
10 Queen Street Place
London EC4R 1AG
Crowe U.K. LLP
St Bride’s House
10 Salisbury Square
London EC4Y 8EH
Barclays Bank plc
1 Churchill Place
London E14 5HP
----- End of picture text -----

Senior Management Team

as at 31 December 2023

Chief Executive Sonia Walter Director of Business Development Adam Pryce Director of CCQI Peter Thompson Director of Finance and Operations Alexandra Duffety (Interim) Director of Human Resources Marcia Cummings Director of Information Systems Phil Burke Director of NCCMH Tom Ayers Director of Professional Standards Elen Cook (Interim) Director of Strategic Communications Corinne Bishop

----- Start of picture text -----
Solicitors
Investment managers
----- End of picture text -----

----- Start of picture text -----
Bates Wells
10 Queen Street Place
London EC4R 1BE
Payne Hicks Beach
10 New Square
Lincoln’s Inn
London WC2A 3QG
Barclays Wealth Management Limited
1 Churchill Place
London E14 5HP
Cazenove Capital
1 London Wall Place
London EC2Y 5AU
----- End of picture text -----

----- Start of picture text -----
Our governance 107
----- End of picture text -----

106 Our governance

Let Wisdom Guide

Our values

OURAGE C NNOVATION I ESPECT R OLLABORATION C EARNING L X CELLENCE E

@rcpsych RCPsych linkedin.com thercpsych @RCofPsychiatrists

Charity Commission for England and Wales Registration Number 228636. Office of the Scottish Charity Regulator Registration Number SC038369.