THE BRtll5H ASSOCIA
PSYCHOP
CH
Sandison La￿ Umited
2 St Marfs Road
Tonbridge
Kent TN9 2Lg

THE BRMS
Directorfs Report
Independent Examir*5 Report
ststemeTrtof Finantial Activities
9- 10 &lance Sheet
11-12
Cash Flow 5tstement
13-19
Notes to theAccounts

THE BRMSH ASSOCIATION FOR PSYCHOPHARMACOLOGY
CHARITh NO:
77825
MP
REpoKfoF THE TRLisfEES
forthe ar ended 31° December2023
The trustees WIK* are also dlrectors of the charity for the puryjoses of the Companles •lct 21Th. present their
report with the financial statements of the charity for the year ended 31 Oecember 2018. The tiustees have
adopted the prov1￿onS ofAcco(Kftlng and Reportfjty by Charftle&' Ststement of RecommendedPractice
applicable to d￿rItieS preparin8 their accounts in accordan￿ with the Financlal Reporting Slandard
applicable in the UK and Republic of Ireland (FRS 1021 leffective I"January 20151.
The charity is controlled by its governing document. ? deed of trust, and constftutes a limited compary,
limited by guarantee, as defined the Companies Act 2006.
Registered Company number
0586S899 IEnglèrKI andWale5)
277825
36 Cambridge Pla
Hi115 Road
Cambridge CB2 INS
Indeperyl¢nt Examiner
Mf Ryan Cottin8ton ACA
Sandlson Lang Umlted
2 St Marfs Road
Tonbridge
KentTN92LB
Contrd_...

BR
TION FOR PSYCHOPHARMACOLOGY
CHARITY t40: 277825
RTOF
for the ear ended 31° December 2023
Alms arnl Ob￿ctfv
To athance education and research In the SCIen￿ of psychophamiacolo8y forthe public benefft and to
publlsh the results of such research and h) fvrtherance of that object bul not further or otherwtse the
A550Ctation shall have the followiTr8 power5:
To brhw twher am F￿OnSInvofved or interested In the sclentific Study of pwchophaM￿Col0gY
arTangin8 scientific meelings, seminars and study 8roup5 for the purposes of promotlng the practlce
of psychopham13coIoEy* developin8 the subjert matter and di5semlt)atlw tkne d￿e￿pM￿nts for
the benefft olihe public
To provlde guidance and Information to the publrc on matters relevant to psychophamiacokn, a5
appropriite
b)
On 5July 2(X)6 the was Incorporated under the Companies Ad 1985 as a private company and the
companyls knlted.
The AssocratK)n held 15 sclentific and educatlonal meetings throughout this perlod, Induding seven Modules
of the BAP Certificatein Clinical Psychophannacolo8y, BAP Non-ainical Certiftate in Psychophmiatolow,
the annual BAP Summer Meeling (heid in Manthester) aThl srx Ma5ter¢lasses in ainical Psychophamiaco108V.
Awards made durin8 2023 included four BAP P￿hOpharnlacolog¥ Awards, @ight Poster Prizes Iln associatlon
with the summer meetin81. the Llfetime Achievement Award, one Outstanding Contribution Award5, four
Undergraduate Awards and two Publlc Communlcatioft Prlzek BAP provlded numerous butsarlests support
younger fflember￿ and undergraduate< attendance at the summer meetlng and also awarded three Robert
Kerwin Internath)nal Conference Bursar￿5 and one Hannah StelnbergAYrdrd
BAP also supported eight Summer Researth Internship project&
BAP renewtd its membership of the Roydl Stst￿ty of Blolo8y, Understa* Animal Researth and the
Foundation for Science ènd Techr￿108¥.
The 8AP Online ContInul￿g Professional Development Resoufce ulldeNentfwther development and
expanslon.
Seven Clinical Certthcate modules and six Masterclaws in Clinirdl Psychopharn)acolobY P of which wlll be
onllne events) will be held in 2024. The 2024 Summer Meetifi£ wlll be held in BInnIng￿M. Llaison with
other relevant groups will contlnue vknere appropriate and the W will take exhibition Spa￿ at eventslo
The c0ftt￿ to 5trfve to briry together •ll discipllnes in psYchopham￿coknW3nd this effort xrfll be
maintained in the comlng year

THE BR￿lSH AssoaATION FOR PSYCHOPHARMACOLOGY
CHARrrY NO: 277825
ANY NO:
REPQRT
for the
F THE TRU
TEES
arended 31X December 2023
The BAP ReseNes Policy Is defined in temis of the investments In bonds and unit tnsts and exclude5 the
val¢p of the BAP off￿e buikllng at 36 Cambrid8e Place, CambTidge.
The BAP wll aim to maintsln a mlnlmum of two-and+halfyearfs expendlture in reseNe*
The Trustees have examined the rfsks which the charity faces and confinn that systems have been established
to re8ularly review such risk&
Presldenl:
Professor David Baldwln, ilniversity of Southampton
Presldent*lect:
Profe5SDr Catherine HanneT
Past President:
Professor Kevln Fone, Uni¥er5ity of Nottln8ham
Honorary Treasurer
Dr Anthony VeTnon. f•rfs College LondoTr
Honornry General Secretwy. Profe55or Rochel Upthegrove Uni¥eiW of 8irmin8ham
Meetin85 Secreta￿.
Dr James Stone. Unlversity of Su55ex
Secretsry for C￿1
Prokssor Carmine Pariante, Ws Colle8e tondon
External Affairs:
Seuetary for Non4nlcal
External Atrairs:
Dr MadeleiNe Unlvers1ty(rf Ilotti￿h*rn
Dr Sameerjauhar. Kln¢s CoMeBe london
Dr Susannah Murphy, Unlversity of Oxford
Dr Digby Quested, Univew5ity of Oxford
DrAlex Plpe. Universlty of YoTk
Dr David Dlckens. UnIve￿ty of liverpool
Drjonathan Ro8ers, Universlty College London
No TtusteelDlrectOf receivad any remuneTrtion durlng the year.

REPORTOF THE DIREcfoRS OF THE BRM
H ASSoaAIION FOR PSYCHOPHARMACOLOGY
CHARrrY NO: 277825 COMPANY NO: 5866899
REPORT OF THE TRU5fEES
forthe ear ended 31. December 2023
Statement of Tntstees Responslbllltle5
The trustees (who are also the dI￿rtorS of British Associalion for Psychopham?acolo8y for the pun)oses of
company law} are responssble for preparin8 the Report of the Tn￿eeS and the fil￿nCial 5tstements In
accordance with applicable law and Untted Kingdom Accountin8 star￿ards (Unlted Kln8dom Generally
Accepted Accounts￿ Pradice)
Company law requires the trustees to prepare financol ststements foreach finandal year whith Rwe a tn
and falr vlew of state of affairs of the charitable company and the incoming resources. including the
income and expenditure. of the charitabk Company for that period. In preparin8 those fin•nctal statements.
the trustees are iequired to
selert suitable atcountlng poliaes and then appty them consistenttr,
observe the methods and principles in the Chawity SORP;
make judgements and estimates that are Teasonable and Pr￿lent.
prepare the financial statements on the golng concem basls unles5 it 15 inapproprlate to presume that the
charitsble t(￿paNY will a>MiDue in business.
al any time the financial posltion of the rharltsble company and to enable them to ensure that the flnancial
sfatements compty with the Companies Act 2(￿￿. They are also responsible for safeguardlng the assets of
the charitable company and hence for taking reasonable steps for Ihe prevention and detection of fraud and
other irregularities.
Dr Anthory Vemon
Honorary Trea5urer- on behalf of the Directors
024

INDEPENDEP￿ExAmINER's REPORTTO THE TRusfEES OF
THE BRITISH ASSOCIATION FOR PSyCHOPHAR￿COLoGy
Comparf)
I report to the charity tft￿tees on my examlnation of the accounts of the Company for the year •nded
31 December 2023.
ReSpOn￿bIlItIeS arnl basls of re
As the charity's trustees of the Company (and also its directorsfor the purposes of company lawl you are
responsible for the Preparntion of the accounts in accordance with ihe reoulrements of the Companles
Art 21M)6 (Ihe 2LTr)6 ACV).
HayKvd 5atlsfied myselfthat the acco￿ts of the Company are nol iequlred to be audited under Part 16 of
the 2006 Act and a￿ ellgible for independent examlnation. I report in respert of my examination of your
charity's accounts as cafrled out under section 145 of the Charities Art 20111Ihe 2011 Act'l. In ca￿1
out my examination I have followed the Dtrections 8iveTr by the Charlty Commlsslon under 5ertion 145151
{b) of the 2011 Act.
Indeperrflert examlnees statrment
Since your charÉVs 8r055 income exceeded £250.IXL) your examlner must be a member of a listed body.
l Can confinn that l am qualrfiedto urnlertakethe examinatitm because lam Jre8iSteredmemberoflCAEW
whlch Is one of the listed bodies.
I have completed my examlnation. I confim? no rnatteis have come to my atteniknn in connectlon
with the examlnation glving me cause to believe:
accounts￿ recordswere rax kept In ￿sPertOf theconyary as fequlred by sectlon 386 of
the 2006 Act: or
the accaunts do not accord wlth those records; or
the accounts do not compty with the accountlng reouirements of sectSon 396 of the 2W6
Act other than any requlrement that the accounts give a true and fair view which is not a
matter consklered as part of an indyndent examination; or
the accounts have not been prepared in accordance with the methods 8nd principles of
the Statement of Recommended PraLlice forac¢ountHI8 and reporting ty tharities
lapplicable to charities preparing their accounts in accordance with the FIFbancial Reportln8
Standard applTcable In the UK and Republlc of Ireland (FRS 102)].
attention should be drawn in thls report in order to enable a proper under5tandiTr8 of the accounts io be
reached.
Mr ltyan Cottington, ACA
Sandlson Lan8 Limited
2 St Marf5 Road
Tonbrldge
TN9 2L8
Date:
2C s(ly 2L72

THE BRMSH Assoa4TION FOR PSYCHOPHARMACOLOGY
STATEMENTOF FIWINCJALAcnvmES
INCOME AND
EIIDOWMENTS FROM
Membership Subscriptions
Donations
Le8acy from Professor Hannah Steinberg
48.940
49,579
Journal of PsychopharniacoloBY
Book Sales l Royaltks
155.574
3,201
155.574
3.201
16L061
5,242
Bank interest
Di¥iden(ts
18,735
34P19
18,735
34￿19
6.954
14595
MeetiTrx income
Meetlng income {PTloryears)
Meeting Income refunded IprSoryoaf5)
Onllne CPD Resource
421.808
421A08
41X)A16
938
1580)
60,570
57387
S7387
Other Incom•
other income
Totsl In￿nI￿ resour¢
£ 57,387
£682,887
£740.274
£698.775

STATEMENTOF FINANaALACTwmES
rthe
r ended
mber 2023
exPENi￿lRE ON
Notes Restrirted Unrestii¢ted Totsl Funds T¢tsl Fund5
Fund5
Funds
2023
2022
Ratslng Donatio￿ and Lezacles
Joumal of Psychopharmacologv
Promotion Costs
Book Costs
1,941
1,941
1,859
3,033
6,398
Charltable acti¥ltles
Meeting expenses
BAP Initiatives
Prizes
Research Internships
Certificate expenses
Affiliation to Other 5oaetie5
Secretarlal and other staff costs
Recruitment
Computer systemlsoftware15erver
5uppr)rt
Prlnlin& postage and ￿atIonery
Donations
426.796
426.796
61.362
4,840
28,750
225
3.222
121,696
6,240
418,146
21.501
5.590
11,480
61,362
4,840
28,750
225
3,222
121,696
6.240
2,229
107,372
9,899
4.793
9,899
4,793
7.485
3,530
5,rAIo
Support Costs
Office insurance
Re￿IrS and rnaintenan
Council tax and water
Li8ht and heat
Cleaning
Telephone costs
ank and card prO￿5$ing charge5
Sundry expenses
Advertising
Depreciation
Council meetings expenses
Accountancy
Managernent charges
Payroll servlce costs
1,894
1.151
3.411
1,327
960
3,968
1,894
1.151
3.411
1,327
960
3.968
1,913
730
3.128
962
3.581
9.971
13
794
12,204
15.053
3.120
16.482
1,754
502
502
11,655
15,808
3.300
22.480
1,915
11,655
15.808
22,480
1,915
Total resourtes expended
61.362
686,364
747,726
664,Z88
14et Gal￿(&055e5) on investments
128.096
128.096
(231.7741
hlET (EXPENDrruREV INCOME
£(3,975)
£124,619
120,644
£1197,2871

THE BR￿lsH ASSOCIATION FOR PSYCHOPHARMACOLOGY
STATEMEMf OF FINANCIAL ACTIVITIES
RECONCILIATION OF FUNDS
Funds
2023
Plet {Expenditu￿) I Income forthe Year
Total Fund5 brought forward
(3,9751
96.235
124.619
2.396W8
120,644
2,492,683
Total Funds carried fvfward
£92.260
£2521.067
£2,613.327
All income and expenditure has arlsen from conlinuing arti¥it*

THE BRMSH ASSOCIATION FOR P
LOGY
BALANCE SHE
Funds
Funds
2023
20Z2
Ta￿lble assets
Investments
219,745
1.811,102
219.745
1,811,102
231.4(K)
1,653.822
2￿30￿7
2,030,847
1,885222
Debtors
Cash at bank
153,926
431,880
153,926
524,140
154.416
562,079
92,260
585.806
92.2
678.L
716.495
Amounts fall'ng due withln one year 10
{95,5851
(95,5851
(109.034)
490,221
92260
5&481
607061
92260
2 613328
2A92,683
£2.521.068
£92.260
£2,613,328
£2,492,683
FUND5
Vnres¢rktpd FuNts
Restricted Funds
2521,068
92,260
2,396,448
96,235
2,613.328
£2.492.683

ThE BRrnsH ASSOCHTK)N FOR PSYCHOPHARMACOLOGY
BALANCE SHEEr
s at 31st December
The dwltabk company ts entltledto exemptknn from audlt undersectlon 477 of the QJmp4nie5 Act 21X￿ for
the year ended 31 December 2023.
The members have not requlred the companyto obtsln an audh of Ilsfinanrial statements for the yeai ended
31 De￿rnber 2023 in accordance with Section 476 of the Companles Art 2tK)6.
The trustees acknowledge thelr fesponslbilltles lor
a) ensurin8 that the charitable company keeps accounting records that comply wlth Secttons 386 and
387 of the Companles Act 2CI)6 and
b) preparlng flnancial statements whith give a Iru¢ and fair view of the stste of affairs rfthe charltable
company as at the end of each financlal year and of its surplu5 or defidt for each financial year in
accordante wlth the requirements of Sectlon5 394 and 395 and which othenvi5e comply with the
requirements of the Companies Act 2006 relatinB to financial ststements, so far as applicable to the
charitsble tompany.
The fittancial statements were apPro￿d bythe Board of Trustees on_....-....... .~ .- ..--.--..... .. -.-- and
were signed on its behalf by:
Dr AnthonyVemon-Trustee
io-

THE BRMSH ASSoC￿Tk)N FOR PSycHOPHA￿ACOLoGy
CASH FLOW StAIEME
are
31# Deomber 2023
2022
Cash IIows from operating activltses:
Cash generated from opeiations
(39A)61)
751x16
Nel cash provrded by (used in)
operation activttie5
139,061)
75,iN16
Cash flows from 1Th￿s￿n8 actlvltles:
Purchase of tsngible fixed assets
Purchase of r￿ed è55ets Investrmnts
Interest received
1,122
L107
Net cash provided by (used in)
investin8 activtties
1,122
1.107
Change in cash and ush eqlfvalents In
reportlng perlod
Cash and cash equivalents atthe be8innin8
of the reporting period
(37,939)
76,113
562,079
Cash and cash equivalenls at the end of the
reporti￿3 period
£524,140
£562.079
li

ThE BRillSH ASSOCIATK)N FOR
HOI>HARMACOLOGY
NOTES TO THE CASH FLOW STATEMENT
forthe
l De￿mber 2023
RECOIKIUA710N OF NETINCOMV(EXPEIIDtniREITO NEfcASH FLOW
FROM OPERATING Acnvmes
2023
Net {expenditure)/ income for the reportingper40d per the
statement of financial activities)
Adjustments fi>r.
Depreciatlon thar8es
LDsses/(Galnl on Investments
OFvidends re£ei¥ed on Investments
Management charges on Investments
Interest recelved on IfNestments
Interest recelved on Cash at bank
Ilncrease) / Decrease in debtors
{Decre05e) I In¢￿•se In credltors
120,644
(197,287)
11,655
(128.0961
134,049)
22,480
{17,614}
(1,122)
490
113A49}
12,21
231,774
(14.595)
16,482
15.8471
(1.1071
142.7871
76,169
Net cash provlded tyIu5ed in) operating activltles
39.(611
£75.(
12-

THE 8RITSH AssoaATION FOR PSYCHOPIIARMACOLOGY
IffiES TOTHE ACCOUNTS
for the
arended 31" December 2023
Basis of preparing the financial statemenls.
The financial statements of the charftable company, v4hith 15 a wbllc bel￿fft efttlty under FRS 102,
have been p￿Pared in acmrdance with the Charitie5 SQRP IFRS 102) "Accounting and Reporting bv
Charltie5: Statement of Ilecommended Practite applicable to charitie5 preparing their accounts In
attordance with the Fhun¢lal Reportln8 Stsndard applicable in the UK and Republic of Ireland IFRS
1021 {effertlve I" January 20151°, Financial Reporting Standard 102 Yhe Fln8ncial Reporting
Stsndafd applicable In the UK and Republic of Ireland" and the Companies Act 21￿. The financial
statements have been prepared under the historical cost convention wlth the exception of
Investments which are inck￿ed at matket value. as modlfted bythe reVaI￿lon of certain a55ets.
All Incorne is recognised in the Statement of Financial Activities once the tharlty has entitlernent to
the fund4 it is probable that the Incow* will be received and the amount can be measured reliaNy.
Liabilrties are recognised as expenditure as soon as there is a legal or constructfve obliKation
commftting the charlty to that expenditure. it is wobabFe that a transfer of ecoM*mic benefits will be
required in settlement and the amount of the obli8ation be measured reliably. Ex￿nditUre is
accounted for on an accruals basis and has been cla55ifted under headings that ag8re8ate all c05t
related to the category. Where costs cannot be diiectly attributed to particutsr headings they have
been allocated to artr¥ities on a basis consistent with the use of resour￿$.
Tarylble Il¥ed assets
Depreciation is provided at the followtng annual rale5 in orderto wrlte off each a55et over its
estlmated useful lrfe on thefollowln8 ba5
Property
5% reducing balance ba95
Equlpment
- 25% reducing balèftce basis
Fixlure5 and FJttin85 - 25% reducing balaTh￿ basls
Investments are initially reco8ntsed at thelrtransactlon value and subsequently measured attheir fair
value as at the Balance Sheet date using ihe closin8 market value.
The chariEy is exempt from corporation tax on its charitable activities.
Convd.....
13-

THE BRMS
TION FOR PSYCHOPHARMACOLOGY
NOTES TO THE ACCOUNTS
forthe ear ended
Unre51riaed funds can be used in accordance with the charitsble objectives at the discretion of Ihe
tn￿tee5.
Restrlrted funds can be used lor particular restricted purposes ￿th•Th the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restrkted
purposes.
Further explanation of the nature and purpose of eath fund ts Inclth In the notes to the flnancial
statements.
ConYd.-..
l4-

THE BRITISH
PHARM
NOTES TOTHE Accoumrs
fort
arended 31° De￿rnber 2022
Sthedule of Income •nd relathyto Mertlry5
durfftgth• y•ar•nded 31# Oetember 2023
Surplus
January 2023
8ri5t0l-
Anxiety Dlsorders
19,750
20.609
1859)
Febnwry 2023
Manchester-
Sub5tsnce MI5use
18.276
18,262
14
March 2023
Cambridge-
Non-ainical Certificate
4.250
31,882
{27.632)
March 2023
southampton -
Chlld and Adole5ont
29.101
21,263
April 2023
London-
Masterclasses
591170
47,469
li￿01
May 2023
Blrmlngham-
Schizophrenia
23y5
17,436
6,109
July 2023
Manchester-
Summer MeetinB
136,308
195,733
159.42S)
September2023
Newcastle.
Affertive Oisorders
24.194
20,948
3246
Ortobtr2023
Newcastle-
Old A8e
23.982
20,899
3,083
October2023
Newcastle -
Child and Adolescent
24.891
zi,tsi
November 2023
London.
Maslerclasses
58.441
11,164
47,277
£421,808
£426,796
(£4,988)
15-

THE BRMSH ASSOaAMON FOR PSICHOPHARMACOLOGY
THE ACCOU
r 2023
In Wwo Trnlnlnz Fund
Onllne CPD Resource
15
26.5
8,855
Robert KeTwin Bursarles
5,542
7,246
VPM Library
1,320
Hannah Steinbur8
10,000
Newcastl¢ Unrrfer5ity Stipend
61,362
21.501
BAP In Vkn Trnl* Fund
Launched In 2009, the aim of this stheme Is to 8lve students training and experience in iTrvivo skills
in psychopharmacolobry and related neuroscience fields. ApplicatloThs are supervisor-led and up to 4
summer vacation student projects are supported {at £5,1))O/Award).
To commemorate Professor Ke￿n,$ support and mentorship of youn8 scientists. the COU￿11 introduced
annual bursaTie5 in 2008, to be awarded in hi5 name. Each bu￿ary covers travel expenses and the
regstration fee for an internatlonal conference (excluding ihe BAP sumMermeetln￿. tO8ether with
subsisten￿.
Thls tool provides comprehensfve coverage of psychopharmacology, from generic principles tothe treatmenl
of Specif￿ conditions. The resource complements and Supplements the BAP face to face meetings-
Masterdasses aFbd Certifiote modules- and the Fundamentals of Clinical Psycl)opharmacology texti￿
VPM Ubrnry
BAP took over the hosting of Vlsualislng Psychotropic Medldne IVPMI In 2017. VPM ts a way to che(* mode
of actlon, efficaq and side effects for psyclKitropic medicine5 and can be used as an interactlve leamkn8 tool
or to model new medicines. It is on the BAP website as a free educatlonal resource.
Newcath Unl¥erslty StI￿d
Paid to Newcastle University on an academicfee wal¥er basls for the BAP Director of Education.
16-

THE BRMSH ASSOCi4TION FOR PSYCHOPHARMACOLOGY
TOTH
ACCOUNTS
for the
r ended 31"
mber 2023
Clinical Ce
if￿ate
I￿orne
s: Expenses
£4
Restfkt•d Funds
Balance at 01.01.23
I￿ornIng Resources
Expenditure
98,419
57.387
61,362
Balance at 31.12.23
£94.444
Restricted funds are those moDFes allocated to fund various BAP inibati¥es durin8 the year.
Stsff Costs
The staff costs were:
Salaries
Pen51on Costs
121,696
(4,1651
111537
{4,165)
£117￿31
£107,372
The average monthty Aumberof employees during the year was as folh)w&'
Ilo employee receIVeden￿lU￿nts In excess of £60.IfKI.
ConVd_..
17-

THE BRITISH A$￿)cIATIoN FOR PSYCHOPHARMACOLOGY
TO ThE ACCOUNTS
F￿tureS
Equlpmert & Fminp Totals
A5 èt 01.01.23
Additions
525.959
33.651
567W4
As at 31.1223
525,959
33,651
8.284
As at 01.01.23
Charge for the Year
294,648
11,566
33,574
8.272
12
336.494
12,204
As at 31.12.23
306,214
33.651
348,149
NetBook Value
Asat31.1223
£219,745
£219.745
As at 31.12.22
£243.485
£ 103
£ 16
£243.604
Market
Valu¢ as
at 31.12.23
MIXEDASSEf FU14D5
A5 at0i.oi
Dtvidends and interest recelved
Management fee5 Fncurred
Unfealised1055
£1.653A23
£51,662
1£22A79)
£128.096
As at 31.1223
ll￿11.102
Unreallsed 105$ ts£128,0%
18-

THE 8RFfisH ASSOCIATION FOR
HOP
forthe ear ended 31.
mber2023
2022
Outstsndlng Joumal Income
Outstandin8 meeting income
Meeting expenses pald In advance
135A20
L430
17J)76
141213
IOA85
2,318
£153?26
£IS4A16
2023
Outstandin8 meetlnB expenses
Accrued meeti118 income
oiher credltors
Amount incorrectty paid BAP account
328
99,625
9,081
74.965
13.920
£95.885
£109.034
ii.
Nine Tnstees/Dirertors reoived a total of £15A2112022- £L731) in reimbursements dufth82023.
No Trt￿ recelved afty remuneratlon during theyear.
19-