THE BRITISH ASSOCIATION FOR PSYCHOPHARMACOLOGY FOR THE YEAR ENDED 31" DECEMBER 2024 REGISTERED CHARifi NO: 277825 REGISTERED COMPANY NO.. 5866899 Sandi50n Lang Llmited 2 St Marvs Road Tonbridge Kent TN9 2LB
R PSYCHOPH CONTENTS Pa eNo. DirertDrs' Report Independent Examlner's Report statement of Financlal Actlvities 9-10 Balance Sheet 11-12 Cash Flow Statement 13-19 Notes to the Accounts
Tl CHARI 277825 COMPANY NO: 5866899 REPORT OF THE TRUSTEES for the ear ended 31" December 2024 The trustees who arè also directofs of the charity for the purposes of the Companies Act 21))6, present their report wlth the financial statements of the Charity for the year ended 31" Decèmber 2018. The trustees have dopted the provisions of Accounting and Reporting by Charlties- Statement of Recommended Piactice applicable to ¢harltles preparing their account5 in accordance wlth the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffectlve I" January 20151. Govemlng document The charlty Is controlled by its 8overnln8 document, a deed of trust, and constitutes a limited company, limited by 8uarantee, as defined by the Companies Act 2006. Reference and Admlnistrattve Detsils Re8lStered Company number 05866899 (England and Wales eBlst•rnd Charity number 277825 Re8istered offi¢e 36 Cambridge Place Hi115 Road Cambridge CB2 INS Independent Examlner Mr Ryan Cottington ACA Sandison Lang Limited 2 St Mary's Road Tonbrid8e Kent TN9 2LB Conyd.....
TH RIT Tl CHARITY NO: 27782 COMPANY NO.. 5866899 REPORT OF THE TRUSTEE5 for the ear ended 31" De¢ember 2024 Alms and Objectlves To advance edu¢atSon and researth in the sciente of psychopharmacology for the public beneflt and to publish the re5uliS of such research and in furtherance of that objert but not further or otherwise the Associatlon shall have the followin8 powers: To bring together all persons Invofved or interested in ihe scientlflc study of psychopharmacobgy by arranging scientific meetings, seminars and study groups for the purposes of promoting the pracli of psythopharmacology. developin8 the subject matter and disseminatin8 those developments for the benefit of the public To provide guldance and information to the publlc on matters relevant to psychopharmaco108y, as appropriate bl Incorporatlon On Sjuly 2006 the BAP was incorporaled under the Companles Act 1985 as a private company and the company Is Ilmited. Actlvltlès durfng 2024 The A550Clation held 13 scientific and educational meetings throughout this period. includinE six Modules of the BAP Certificate in Clinical Psychopharmacology, the annual BAP Summer Meeting Iheld in Bimilnghaml and six Mastercla5ses in Cllnical Psy¢hopharma¢ologv. Awards madè duiing 2024 included lour BAP Psychopharma¢ology Awards. nine Poster Prizes lin ass0¢iaiion with the summer meeting), the Lifetime Achrevement Award, two Outstanding Contribution Awards, foul Undergraduate Awards and two Public Communication Prize5. BAP provided numerous bursaries to support younger member5, and undergraduates. attendance at the summer meetin8 and also awarded three Robert Kerwin International Conference Bursarles and one Hannah Steinberg Award BAP also supported eleven Summer Research Internship prokcts. BAP renewed lis membership of the Royal Society of Biology, Understanding Animal Research and the Foundation for Sclence and Technology. The BAP Online Continuin8 Professional l)evelopment Resoufce underwent further development and expaThs10n. Future Adivtrtles Ei8ht Clinical Certificats modules, the Non-clinical Certthcate and six Masterclasses Sn Clinical Psychopharmacolo8y13 of which will be online events) will be held in 2025. The 2025 Summer Meeting will be held Sn Manchester. Liaison wtlh other relevant groups will conllnue where appropriate and thè BAP wlll take exhSbltlon space at event5 to piomote the Association. The BAP will tontinue to strive to brinB tO8ether all disciplines In psychopharmacology and thi5 effort will be maintained in the coming year.
THE BRITISH ASSOCIATION FOR PSYCHOPHARMACOLOGY CHARITY NO.. 277825 PA REPORT OF THE TRUSTEES for the ear ended 31" December 2024 Reserves Pollcy The BAP ReseNes Policy is defined In terms of the1nvestment5 in bonds and unit trusts and exclude5 the value of the BAP office building at 36 Cambridge Place. Cambridge. The BAP will alm to malntain a minimum of two-and-a-half year5, expenditure in reserves. Rlsk Mana8ement The Trustees have examSned the risks which the charity faces and confimi that systems have been established to regularly review Such risks. TrusteeslDire¢tors President.. PresSdent-elect: Past Presldent: Honorary Treasurer. Honorary General Seuetary: Meetin8s Secretary.. Secretsry for Clinical External Affairs: Secretary for NoaInical External Affairs.. Professor Catherine Harmer, Unlverslty of Oxford Professor Naomi Fineber& University of Hertfordshire Profe55or David Baldwin. University of Southarnpton Dr Anthony Veinon, Kin8'5 College London Professor Rachel Upthegrove, Universiiy of 8irmin8ham Dr Susannah Murphy. Univer5ily of Oxford Professor Carmlne Pariante, Kin¥$ College London Dr Madelelne Kin8, Unlversity of Nottingham Dr Sameer Jauhar, King's College London Dr Digby Quèstèd, Universty of Oxford Dr Alex Pike, Universfjty of York Dr David Dickens, University of LNerpool Dr Hannah Clarke, University of Cambrid8e Professor Valeria Mondelli, Kin¥$ College London Dr Jonathan RoÈers. Univer51ty College London Dr Sarah Almond, Misslon Therapeutics Prolessor Steven Marwaha IRÈsigned March 20241 Past Presldent: Professor Kevin Fone, University of Nottingharn ITerrn ended July 20241 Meetings secretary: Drjames Stone, Uner5]ty of Sussex (Term ended July 20241 Dr Gary Gilmour, Compass Pathway5 IResi8ned October 20241 No TrusteelDirector received any remuneration during the year.
REPORTOF THE DIREOR5 OFTHE BRln IATION FOR PSYCHOPHARMA CHARITY NO.. 277825 COMPANY NO.. 5866899 REPORT OF THE TRUSTEES for the ear ended 31" Dember 2024 Statement of Trustees Responslbllltle$ The trustees (who are also the dirertors of Brit15h A550Clation for Psythopharmacology for the purposes of company lawl are responsible for preparin8 the Report of the Trustees and the financial statements in accorclance with appllcable law and United Kingdom Accounting Standard5 Iuniled Kingdom Generally Accepted Accounting Practlcel Company law requires the trustees to prepare financial staternents for ea¢h financial year which give a true and fair vlew of the state of affalrs of the charitable company and the incomlng resources, includin£ the income and expenditure. of the charitable wmpany for that period. In preparin8 those financial Statements, the trustees are required to select suitable accovnting pollcles and then apply them consistently,. observethe method5 and principles in the Charity SORP- make jud8ernents and estimates that are reasonable and prudent- prepare the financial statement5 on the going concèrn basls unless it is inappropriate to presume thal the charitable Company will continue in business. The tTV5tees are responsible for keeplng proper accounting records which disclose with reasonable accuratv at any tlme the financial posilion of the charitable company and to enable thern to ensure that the financial statements comply with the Companie5 Act 2CIJ6. They are also responslble for safeguarding the assets of the tharitable company and hence fortakinB reasonable steps for the prevention and detection of fraud and other irregularitiès. Signed- Dr Anthijny Vernon Honorary Trea5urer- on behalf of the Dlrectors .2025
INDEPENDENT EXAMINER'5 REPORTTO THE TRUSTEES OF THE BRITISH ASSOCIATION FOR PSYCHOPHARMACOLOGY Independent examlner's report to the tru51ee5 of 8rhlsh Assoclatlon for Psythopharmacolo8y I'the Company'l I report to the charity tru5tee5 on my examSnation of the accout)ts of the Company for the year ended 31 December 2024. Responsibllltles and basls of report As the charivs tru5tee5 of the Company land also its direttors for the purposes of company lawl you are responsible for the preparation of the accounts In accordance with ihe requiTement5 Qf the Companies Act 21J)61'the 2006 Art'l. Having sat15fied myself that the a¢¢¢unts of the Company are not required to be audlted under Part 16 of the 2006 Act and are eligible for Independent examination, I report in re%pett of my examination of your charity's accounts as carried out under sertion 145 of the Charities Art 20111'the 2011 Art'l. In carrying out my examination I have followed the Diredions glven by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examlner's statement Since your ¢harltls gross Income exceeded £250,QCQ your examiner must be a member of a listèd body. I can confirm that l am quallfled to undertake the examination because l am 3 registered member of ICAEW which is one of the listed b¢dles. I have completed my examination. I confirm that no matters have come to my attentitsn in connection with the examination Elving me cause to believe.. accounting retords were not kept in respect of the Company as requlred by sectlon 386 of the 2006 Act,. or Ihe accounts do not accord with those records,. or the accounts do not comply with the accountin8 requirements of section 396 of the 2(*J6 Act otherthan any requirement that the accounts give a true and fair view whlch is not a matter considered as part of an Independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Slatement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounis in accordance with the Flnancial Reportin8 Standard applicable In the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection with the examination to which attentiori should be drawn In thls report in order to enable a proper understanding of the accounts to be reached. Mr Ryan Cottin8ton, ACA Sandlson Lan8 Limited 2StMary's Road Tonbiidge Kent TN92LB Date: lÉl?u){
TH RITI IAT PHARMACOLOGY STATEMENT OF FINANCIAL AcfiviTIES INCOME AND ENDOWMETrllS FROM Notes Restricted Unrestrlcted Total Funds Funds Funds 2024 Total Fund$ 2023 Donations and Le8acles Membership Subscription5 Donations 50.767 50.767 48.940 Other tradin8 artivltlés Journal of Psychopharmacology Book Sales l Royaltie5 221,060 11,711 221,C60 11,711 155,574 3.201 Investment Income Bank interest Dlvidend5 21,406 15,402 21.406 15,402 18,735 34,049 Charltablé actfvltles Meeting incomè Meeting incorne (prior years) Online CPO Resource 522.799 589 522,799 589 57,270 421,808 580 57,387 57.270 other income Other income Total Incoming resour 57,270 843,734 901,C £740,274
THE BRITISH ASSOCIATION FOR PSYCHOPHARMACOLOGY STATEMENT OF FINANCIAL ACTIVITIES for the ear ended 31" December 2024 EXPENDITURE ON Noles Restrlcted Vnrestrlcted Totsl Funds Funds Furds 2024 Total Funds 2023 Charllable artivitie5 Journal of Psychopharma¢olo8Y Meeting expenses BAP Initiatives Prizes Research InteTn5hips Certiflcate expenses Affiliation to Other Societies Secretarial and othèr staff costs Recruitment Computer systemlsoftwarelserver SUPPOrt Printing, posiage and statlonery DonatKJns 1,882 490,327 1,882 490,327 47,557 3.860 25,5C 190 2,227 174.105 1,941 426,796 61.362 4,840 28.75 225 3,222 121,696 6,240 47.557 3,860 25,500 190 2,227 174.105 8.284 6,834 8,284 6,834 9,899 4,793 pport Costs Office Insurance Repairs and maintenan Council tax and water Llght and heat Cleanin8 Telephone costs Bank and card processing charges Sundry expense5 Advertlslng Depreciation Council meetings expenses Accountancy Management charges Payroll setv1 costs 528 528 1,894 1,151 3.411 1,327 960 3,968 8,508 502 1,084 11,655 15,808 3,300 22.480 1,915 4,383 1,901 960 3,587 11,172 4,261 2,001 10.987 13.426 4,430 17,082 145 4,383 1,911 960 3,587 11,172 4,261 2,IXJI 10,987 13.426 4,430 17,082 145 Total resources expended 47,557 788.073 835.630 747,726 Net GalnsllL055es) on Imie5tment5 83,841 83,841 128,096 (ExPENDVRE>l INCOME 9.713 139,502 149,215 120,644
Tl ¥tATEMENT OF FINANCIAL ACTIVITIES RECONCILIATION OF FUNDS nded 31" D cember 2024 Note5 Restricted Unrestrlcted Fund5 Funds Total 2024 Net (Expenditu) I Inwme for the Year Total Funds brought forward 9,713 92,260 139,502 2,521,068 149.215 2,613,328 Total Funds carrled fOard 101,973 2,660,570 2,762,543 Contlnuin8 Operation$ All income and expenditure has arisen from contlt)uinB activities.
THE BRITISH ASSOC N FOR PSYCHOPHARMACOL BALANCE SHEET a5 at 31" December 2 24 Notes Unrestrlcted Re5trirtÈd Funds Funds Total Funds 2024 Total Fund5 2023 Flxed Assets Tangible assets Investments 208.758 1,913,525 208.758 1.913,525 219.745 1,811,102 2,122,283 2,122,283 2,030,847 Current Assets Debtors Cash at bank 172,293 415,439 172.292 517.4J2 153.926 524,140 101.973 587,732 lQl.973 689,704 678,066 Credltors Amount5 falling due within one year 10 149,4451 {49,4451 195,5851 Net Current Assets 538,287 101,973 640,259 582,481 Total Assets Less Current Liabilities 2,660,570 101,973 2,613.328 Net Assets 2,660,570 101.973 2,762,543 £2,613.328 FUNDS Unrestrided Funds Restricted Funds 2,660,570 101,973 2,521,068 92,260 2,762,543 2,613.328
THE BRITISH ASSOCIATI R PSYCHOPHARMACOLOGY BALANCE SHEE[ The charltable company Is entitled to exemptlon from avdit under sertion 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the company to obtain an audit of fts financlal ststements for the year ended 31 December 2024 in accordance with Section 476 ofthe Companie5 Act 26. The trustees acknowledge their respon5ibS1itie5 for al ensuring that the tharitable company keeps accountin8 iecords that comply with Sections 386 and 387 of the Companies Act 2006 and bl preparing finarbcial Statements which glve a true and fair view of thè state of affairs if the charitable company a5 at the end of eath financial year and of its surplus or deficii for each financial year in a¢¢ordance with the requirements of Section5 394 and 395 and which olherwi5e comply with the requirernents of the Companies Art 2006 relating to finan¢lal statements, so far as applicable to the charitable company. 121h JUNE 2025 ThÈ finantlal statements were approved by the Board of Trustees on... were signed on it5 behalf bv.. and Dr Anthony Vernon- Trustee 10-
THE BRITISH CIATION FOR PSYCHOPHARMACOLOGY CASH FLOW STATEMENT for the ear en I" December 2024 Notès 2024 2023 Cash flows from operating a¢tivitles- Cash generated from operations 17A721 139,0611 Net cash provided by lused in) operation a¢tfvitFes 17,8721 139,0611 Cash flows from investing artivitie5.' Purchase of tangible fixed a55ets Purchase of fixed assets investments Interest received 1,144 1,122 Net Cash provlded by (used inl Investing artivltles 1,144 1.122 Change In cash and cash equivalents in reporting period Cash and cash equNalenls at the be8lnninB of the reporting period 16.7281 137.9391 524,140 562.079 Cash and cash equNalenls at the end of the reporting period 517,412 £524,140
THE BRITISH ASSOCIATION FOR PSYCHOPHARMACOLOGY NOTES TO THE CASH FLOW STATEMENT for the ar ended 31" December 2024 RECONCIUATION OF INCOMEIIEXPENDrruREI TO NEf CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Nei lexpenditurel/ income for the reportin8 perlod las per the staiement of financial activities) Adjustments for: Depreciation charges Losse51lGainl on Investments Divldends ceiVed on Investments ManagÈmÈnt charges on Investments Interest received on Investments Interest received on Cash at bank Iincreasel l Decrease in debiors Decrease) I Increase in creditors 149,215 120,644 10.987 183,8411 115,4021 17,082 120.2621 11,1441 118,367 146,1401 11,655 1128.0961 134.0491 22,480 117,6141 11,1221 490 113,4491 Net cash providèd by lused in) operating activitie5 £17,872) £139,061) 12-
THE BRITISH A550CIATION FOR PSYCHOPHARMACOLOGY NOTES TO THE ACCOUNTS for the ear ended 31, December 2024 Accounting Poll¢les Basis of preparing the financial statements. The financial statements of the charitable company, whlch is a public benefit entity under FRS 102, have been prepared In accordance with the Charities 50RP IFRS 1021"Accovnting and Reporting by Charities.. Statement of Re¢ommended Practice applicable to charities preparing their accounts in accordance with the FinantFal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective I" January 20151" Financlal Reporting Standard 102-The Financial Reporting Slandard applicable in the UK and Republic Of Ireland" and the Companie5 Act 20Cfj. The flnanclal statements have been prepared under Èhe historical cost Convention with the exception of Investments which are Included at market value. as modified by the revaluation of certain assets. Income All income is recognised In the Statement of Financial Artivities once the charity has entitlement to the funds, it is probable that the Income will be receNed and the amount tan be measured reliablv. Expendlture Liabilities arè recr)gnised as expenditure as soon as ihere is a legal or constructlve obligation committin8 the charity to that expenditure, it is probable that 3 transfer of economic benefits will be required In settlement and the amount of the obliBation can be measured reliably. Expendlture is accounted for on an accruals basis and has been classlfied under headings that agBregate all cost rèlated to the category. Where costs ¢anfiot be directly attributed to particular headlngs they have been allocated to activltles on a basis consisteAt wlth thè use of resources. Tanglble flx8d assets Depreclation is provided at the following annual rates in order to write off each asset over its estimated useful life on the following bases.. Property Equlpment Fixtures and FittinES 5% reducing balance basi5 25% reducing balance bas15 25% reducin8 balance basis Flxed asset Imiestmènts Investments are Initially recogni5ed at their transaction value and subsequently measured at their fair value as at the Balance Sheet date using the closing marketvalue. Taxation The charity is exempt from corporatlon tax on its charitable artltieS. Conyd..... 13
THE BRITISH ASSOCIATION FOR PSYCHOPHAR NOTESTOTHE ACCO ar ended 31" December Fund accountlng Unrestricted funds can be used in accordance with the charitable objectwes at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purpose5. Further explanatlon of the nature and purpose of each fund Is included in the notes to the flnanclal statements. Conyd..... 14-
BRITI PHARMA OLOGY NOTES TO THE ACCOUNTS Schedule of In¢ome and Expenses rdatlry to Moetiry durlng the year ended 31" December 2024 Surplus IDeflclt) Income Expenses January 2024 Brlstol Anxlety Disorders 29,142 22,206 6.936 March 2024 Manchesler- Substance Misuse 34,790 21,970 12,820 March 2024 Southampton Child and AdOleSnt 28,228 21.514 6,714 Aprll 2024 London- Masterclasses 63,050 51,255 11,795 May 2024 Birmingham- Schlzophrenia 29,678 25,720 3,958 July 2024 Blmilngham- Summer Meeting I4718 286.461 1138,6431 July 2024 Blmilngham- 50 Anniversary Pa Presldenis dlnner 6.464 16,4641 September 2024 Newcastle- Affectlve D150rders 25.600 22,047 3,553 October 2024 Newca5tle- Old Age 25,640 19,686 5,954 November 2024 London - Masterclasses 138,853 13,004 125,849 S22,799 490,327 32.472 15
THE 8RITISH ASSOCIATION FOR PSYCHOPHARMACOLOGY NOTES TO THE ACCOUNTS ar ended 31" December 2024 BAP In5tlatlves 2024 2023 In Vivo Trainlng Fund Online CPD Resource io.ooj 15,000 34,780 26,500 Robert Kerwln Bursaries 2,777 5.542 VPM Llbrary 1,320 Hannah Steinbur8 lo,0 Newcastle Universlty Stipend 3,C(JO 47,557 61,362 BAP in Vl¥o Tralnln8 Fund Launched in 2009, the aim of this scheme is to give students training and experience in in-vivo skills in psychopharmacology and related neuroscience fields. Applications are supervisor-led and up to 4 summer vacation student projetts are supported lat £5,OOOIAwardl. Robert Kerwln IntertIonal Conference Bursarles To comrnemorate Professor Kerwin's sUPPOrt and mentorship of young sclentists, the Countil introduced annual bursaries in 2008, to be awarded in his name. Each bursary covers travel expenses and the re8istratlon fee for an international confèrence (excludin8 the BAP sumrner mèeting), together with subsistence. Onllne CPD Re50ur This tool provides comprehenslvè coverage of psychopharmacology, from generic principles to the treatment of specific conditions. The resourre complements and supplements the BAP face io face meetings- Masterclasses and Certificate modules- and the Fundamentals of Clinical Psychophartnacology textbook VPM Library BAP took over the hosting of Visualising Psychotropic Medicine IVPMI in 2017. VPM is a way to chetk mode of action, eff5cacy and Side èffects for psychotropic medicines and can be used as an interactive learnin8 tool or to model new medicines. It Is on the BAP website a5 a free educational re50urce. Newca5tlÈ Universlty Stlpend Paid to Newcastle University on an academic fee waiver ba515 for the BAP Director of Education. 16-
THE BRITISH NOTESTO THEACCOUNT for the ear ended 31" December 2024 Certificate Income and Expenses Clinical Certificate 2023 2022 Income Less.. Expenses £-O- Restrlcted Funds Balance at 01.01.24 Incoming Resources Expenditure 92.260 57,270 147,5571 Balaft at 31.12.24 101,973 Restrided lunds are those monies allocated lo fund various BAP Inltlatives during the year. Staff Costs The staff costs were.. 2024 2023 Salaries Pension Costs 167,082 17,0241 121,696 14,1651 160,058 £117.531 The average monthly number of employees durin8 the year was as follows.. 2024 2023 AdministratNe No employee received emoluments in ex55 of £60,000. Convd..... 17-
THE BRITI OCIATION FOR PSYCH PHARMA NOTES TO THE ACCOUNTS for the ar ended 31, December 2024 Flxed Assets Flxtures & Fittin85 Property Equlpment Totsls As at 01.01.24 Additions 525.959 33,651 8.284 567,894 As at 31.12.24 525,959 33,651 8,284 567.894 Oepreclatlon As at 01.01.24 Char8e for thè Year 306,214 10,987 33,651 348,149 10.987 As at 31.12.24 317,201 33.651 359,136 Net Book Value As at 31.12.24 208,758 208.758 As at 31.12.23 £219,745 £219,745 Flxed Asset Investments Market Value as at 31.12.Z4 MIXED ASSET FUNDS As at 01.01.24 Divldends and interest recelved Management fee5 incurred Realised 8ainlllos51 Unreali5ed gainlllossl £1,811,102 35,664 17,082 111,4111 95.252 As at 31.12.24 1,913,525 Unreallsed Loss Is 95,252 18-
THE BRITISH ASSOCIATION FOR P HOPHARMA OLOGY NOTES TO THE ACCOUNTS for the ar ended 31" December 2024 Debtors 2024 2023 Outstandin8journal income OutstandSng meeling income Meeting expenses paid in advance 143,465 2,400 26,427 135,420 1,430 17,076 172,292 £153,926 io. CredltOTS aThl Accrua15 2024 2023 Outstanding meeting expenses Accrued rneeting income other creditors Amount Incorrectty paid BAP account 4110 74,965 6,600 13,920 43,365 6,080 49.445 £95,885 ii. Trustee Expenses Eight TrusteeslDirectors received a total of £13,42612023= £15,821) In reimbursements during 2024. No Trustee received any remuneration during the year. 19-