2021-12-31-accounts

NABS (A clwitable company litnited by guaraThtoc) REPORT AND FINANCIAL STATEMENTS Year ended 31 Decemb¢r 2021 Clwity No. 1070556 Company R¢gi5tration No. 03588945

N A B S (A charitsblc company limited by guatantec) CONfENTS Page Company Infonnation Tnut¢¢$' Rwt 2-10 Ststemrnt of Thut¢e8' Re$ponsibiJitie8 ItyJepeThd¢Di Auditor's Report 12-14 Con801idat¢d StthmeDt of Financial Artiviti¢8 15 Boldn¢e Sheets-CotuolidAted atsd Cijarity 16 Con801id&t¢d CA8h Flow StAt¢meDt 17 A¢￿￿lting Policies Not¢¥ to the FiDattcial Stltements 22-34

N A B S (A charltsble company limited by guAfAntee) COMPANY INFORMATION TRUSTEES AND ADVISEILS S Daglifjh (Ch&ir) P Hughes J Salinson K Fowlff A Cook JHe*ly D Carter H Nicklin N P&tel MBW N Jasin8ki J Peppiatt K Smith ITreAsurer) COMPANY SBCRBTARY B IAw8on RHGISTERED OFFtCB 10 Hi118 Place London WIF7SD INDEPENDENT AUDITOR RSM UK Audii LLP The Piw)a¢le 170 MidBumm¢r Boulevard Milton Keyneb MK9 IBP BANKERS Th¢ Royal Bank of Scotlolld Drnrnmond How¢ {BA) Ibt Fl(TrorNorth Dnunmond Hous¢ l Redh¢ughs Avenue Edinbur8h EH12 9JN SOLICITORS Womble Bond Dickinson 4 More tondots Riverside London SEI 2AU INVESTMENT MANAGERS Porock Rutherford & Co 111-113 Hi8hStrg¢t Berkhamstcd HertfordThiT¢ HP4 2JF Page I

N A B S (A ¢haritable ¢ompany limited by guarantee) TRUSTEES. REPORT REFERKNCE AND ADMINISTRATIVE INFORMATION Th¢Trn$tee8 (who are alsocompany dIr￿lOrS forthepuryosesof cornplny law)&repleasedtoprt8enttheirReport and ACco￿ts for NABS forth¢ year ended 31 Dec¢n)b¢r 2021. The financial statements comply with the Charitics Act 2011. tbc Cornpanies Act 2￿6. the M¢rnorandum atsd Articles of Asso¢iation, and A￿O￿tIng Lnd Reportin8 by Charities.. Statement of Recommended Praetiee applic8ble ro ¢h8rit1¢8 pf¢p8Tin8 their N¢wunts in awordllnce Thith th¢ Fi￿￿¢181 R¢￿)rtIng StaThdard applicable in the UK and Republic of Ir¢land (FRS 102) (effective l October 2019). NABS is regi8ter>lwith the Chwity ComD)iSSiOD ￿nd¢rr¢8]Stral1on numbw 1070556 andwith Comp8nie5 House derregistration ttumber 03588945. NABS op¢rate$ acrosj th¢ United Kingdom. D¢tAils of NABS. tr￿llee& Attd senior 8thff who 8¢tvoJ during th¢ Ye￿ And 8ince th¢ ye4r end are 8¢t out below. Tr¥itees Ind memben olExe¢utlve Commlttee K Glazer Pr¢siden¢ (non-Tru$teel K Fowl¢r K Smith• J Salinsoll P Hughe8 C Rudd S Daglish N Patel M Bush A Cook H Nickli N JAsitt9ki J Peppiatt J He￿Y D Cart¢r Trea8urer TN8t¢e, Support Servic IRe8igned 31M August 20211 S¢nlor Stiff D Tickell* Sue Todd• Chief Executive (to 29th April 2022) ChirfExecutive (from 21. April 2022) All TrusteeB &nd senior staff notedwith asteriski are also members of the Finftnce GOV￿￿￿tte¢ Committee8. Page 2

N A B S (A charitable company limited by guarantee) TRUSTEES, REPORT STRUCTURE GOVERNANCE AND MANAGEMENT NABS was foundcd in 1913. NABS 15 a charitable company limited by 8uarantee inco4)orated Ott 26 Jun¢ 1998 in England And Wa]e#. The charity w&8 est8blished under a memorandum of a8so¢iation which ¢8tablished ihe objects and pow¢r8 of the ¢baTitabl¢ company. NABS has a wholly owned trading &ubsidiary, NABS Tr&ding Limited iTLCOTporated in England Wales whose principal ￿tiVity is the nu]ning of thndraising events. PArt of the surplu5e8 generated by NABS Tr8dill8 Limited are distributed to NABS under the Artiilrs of Association. NABS 18 governed by its Ex¢¢utiv¢ Committee which Consisis of elecied Trnsiees And key sertior m8na8en)ent of NABS appointed us pr&￿ribed by th¢ Articles of As80Cl&tion. Executive Committee meetings art hcld typically 6 times & year. Th¢y ar¢ us¢d to review perfom)aDce over The ¢urreni year and &¥ree key objectives for the next and lon8er lerni depending ott the strategic plantjitig ¢y¢le. Preselllations discussion& in eH¢h rneetiDs keep the Trustees infornied about tts¢ work of NABS and hll lat¢8t developments. R¢8pongibility for reviewing key ar¢A8 of activity and ￿licY are delegatod to Jub-comrnittew that row)rt ba¢k io th¢ Executive Committee. The sub.ctsmmittee$ mtsniior and s¢rutLIJLsethe work of NABS. The day-to-day running of NABS and NABS Traditt8 Lirnited and the exercise of executive re8PODsibility 18 del¢¥at¢d to the Cbief Executive {CEOI. The curren¢ sUb￿0Mmittee8 are.. Finance Commhttee (including investments, pen8ion8, audit Rnd remwierlltion) m•intain8 an overview of the fir￿￿ClaI strategy, p¢rfornianc¢ Ind op¢rnlionB of NABS to ensur¢ effective tsversi8ht of NABS, resouTce8. The Committee reviewi and 8pprai8es ihe manHB¢tD¢n¢ of NABS. inve8lment5 Wlth quarterly pr¢s¢ntations from the investment fvnd managers. The commitlee periodically reviews NABS Support OYan(5. Thi& Committee h48 iAken A 8tronB lead in reviewin8 the short 4nd lon8¢r-t¢rm financi41 position of NABS during Covid 19. GoY¢rnAn¢e Committee en8ur¢s NABS 18 complying with &ll i1& legal obligAtions. hAJ compr¢h¢n8iv¢ polici¢s in place, monitors risk and eommendAtion8 and complaints. Thlrd pArty Indtmnlty provtslon for Dlrecto Q￿]Ifying third poty indemnity provi8ioll 18 ID place for the benefit of all direetor¥ ofthe cornp&ny. Tru8t¢c R¢fryltrnent, Inductlon And Tralnlng ThL8tee4 are 8ough¢primarily byway ocexploration of th¢ field ofpotetsti81 Yuiiablecandidate8 throu8hdiBCUS8ion by ¢xi$Ling TNgt¢¢s, other membm of th¢ Executive Committee and external recruitmertt Advisors to enBure appropri¥te r¢pr¢$¢nlaiLOIJ Across NABS Beneficiary audiences and increase diverBIty, Followingthe directives laid downby the Governan¢¢ Committee. t)¢w TnL8t¢e4 have a ¢omprehen8iv¢ indudion, receive & Yole d¢srription and briefing on the Ch￿lty Commi55ion's "The ErseAllal T￿slee.. what you meed to know. whalyou need iu do". In January 2021 the Thistces had a training Session from Womble Bond Dickinson. Govrrnancc has been fvrther reviewed &8ainst the late$t Charity Ooveman¢¢ Code and an #¢tion plott drowll up thAt focuses on regular review and conit8nt improv¢m¢nt. Tn￿(¢¢8 ar¢ Appointed by the Executive Committcc of the Ch&rity. M&nAgement The sh8p¢ of the pernianent team Is 8tt￿¢t￿red within four core team8: CulDJre Chort8e and Wellbein8 Services Fundraising Strttte8y And Developments Co￿orat¢ SetVi¢¢B Each team 1$ l¢d by ¥ Director who ieport8 dirertiy into the CEO. Puge 3

N A B S (A charitabl¢ wrnpany limited by guarantec) TRUSTEES. REPORT NABS. Arti¢1¢8 orAsS￿l￿￿on s¢t out th¢ ability of the Tn￿te¢S io delegaie Their Authority to the CEO and other groups aud committees as rquired. The terms of ref¢r¢tt¢¢s for ¢omTnittees and delegated authorities were all revi¢wed and thoroughly updal¢d durit)8 2020. The CEO rwn8 to th¢ Executive Committee. Specifically, the objective8 of the CEO ar¢ $¢t and monitor¢d by the Finance ConJmitt¢e. Th¢ Finan¢¢ Commirtee re¢L)mmend8 the PAY and remuneration for the CEO other k¢y management personnel to the Executive Committee using industry {adYcrti8illg and media) and charity b¢nchmarks and review8 and mopilors ihe p&y of the senior leadership tearn and other peT8onnel tljroush detail¢d budget r¢vicw8. The CEO find manll8ement ore in supported by OPeTation&l sub-comTnittees focusiTh8 on Finallce which typically meets monthly, and A quorterly Govcrnance Committee a5 noted above. NABS is thr benevolent Society lor the Advertising and Media industry and is SllPPOrted primarily by ihe organi$atlOll8 who make up the industry irh the fomi of Corporate Donalions and a smaller event portfolio both of which have been aignificatjtly impaGlcd duc to Covid-19 duritlg 2020 and into 2021. Individll&15 in thos¢ organi8Aiions may oceasitsnAIIy 8UPPOrtU8 per80Mlly and thi8 would involve purchas¢ of a raffl¢ ticket, employee evenis (r¥ stutTqui7.) OT OCC05ioThally Tnay tnNke A donation throu8h our JustGivin8 pa8e. We do not opproa¢h the Beneral public for donation5 and currently do not us¢ professional p4rtn¢rs or commercial thndraisers. We have not reccivcd iny complaints re8ardin¥ OUT fundraising12020.' none). We do twt hsk for don#lion¥ from vu]nerable people Ahd should we receive an un501icited do￿tiOn that w¢ would ¢onsid¢r unusual from a beneficiNry w¢ hav¢ proc¢8ses irt plAce to assure us of their mental capacity.in which to make ony Bu¢h donation. STRATEGIC REPORT, OBJECTIVES AND ACTIVITIES NABS Purpoie NABS is the 8UPPOrt org&nisation for the &dverti$in8 Ind m¢dia industry. The vision for the Chuity is to Bee an adv¢rti¥it)g and m¢dia it)du6ty ihat trnty ￿lieve8 and demonstrates thrdt vit&] to success, is the wellbeing of its people wkn work in it. NABS, purpose i8 10 chAmpion And support the wellbeing of thos¢ who work or have worked ￿TO$S the Adv¢rti8ing And media sector. 2021 con¢inu¢d to be another challenging year for NABS and the 8dvenising and media industy. As a charity we worked hard to Support eY¢ryon¢ who turned to us for support at a time when the industy was in recovery mode following th¢ pandemic and the continued imp&ci on adYerti&ing revethue8. The ¢umul8tiv¢ imp8¢t of th¢ p8ndemic across 2020 ind 2021 Saw NABS suffer a total fLttaDcial loss of £1,75million &nd M growrh in demand forNABS servi¢es of 23Qh. The number one reason for Chlling NABS in 2021 wa5 for emotional 8UPPOrt and advice, with 550/0 ofth¢5¢ ¢8ller8 eiting poor mental he&lth ws the key driver for getting in t0￿h driven by work pressure8 and low confidence. Whilst NABS support in 2020 roc￿ed on furlough Advice, redundsn¢y ATJd requests for financial support. 2021 Saw a shift in mil￿Set a5 it￿1VIdual8 acros8 the indu$ty began lo refl¢¢l and r¢valual¢ whai tbey wanted out of lifcandtheircareers Wjth thepandemicbein8 Cjted as a pivotal f8¢torin rcvaluatin8 bothpersonal and profc5sion&l need8. In 2021 th¢ industy b¢g8n a ste¢p rewvery to claw back losses as the CCQDomy began io opett up, albeit in fLt8 and stans. This re¢Dv¢ry added io pressures ort ￿l$tillg ststyand hiring talent became a key focus with salary ris¢$ attracting indiYiduAls, but inten￿[ sthLcNre8 wet¢ fr?gile and new. l￿ding to n]orc ca]15 on wcllbein8 and emotional 8UPPOrt forNABS during i period of great Ilux. The Thi$tee5 and the Managemellt Team Continu￿ to work together to ¢Dsur¢ that NABS ￿￿Id respond to cv¢ryone who needed us in 2021, seein8 our response and the support we provid¢ ss our number on¢ prioriry and putting effiGicncy and innovation at thc top of NABS. list at a time of compromised fundi￿8. Page 4

N A B S (A charitsble company limited by guarantee) TRUSTEES, REPORT Technolo8i¢al improv¢mettt8 in 8etvice provision and Divernity, Equity Qlld tnclusion (DE&D learnitsgs a￿1 s¢rvi¢e upd4t&q knav¢ been at the heArt of NABS strdte8y to BllPPOrt the industy's w¢llbeing for 2021. NABS Almi The Tnwt¢¢6 srt tlJrc¢, 5-yw oYcrarchin8 aims forNABS for 2020- 2025 a8 follows- To maintain a reputatioh for high quality, hwnan-centred, he&rtfeli support as we trnn5forn and expand our industy reacb. 2. To become A leadinB industry influencer, to drive po8iiiv¢ change and make a real differ¢nc¢ to industy culture. through inBighL8. 3. To transform NABS operating model for long temi, fU￿ncIal 8ustainability. NABS Strategie approach to deliver the aims Iw continued to be cemthted in 3 guidin8 pill&r8- Puttin8 Wellbein8 First- providing fLrsi rate services to the induBtry and ensutin8 that we wntittu¢ to provo th¢ ¢as¢ for w¢llb¢ing And its benefit on the business bott(Trm line. Working ToBeiher For Ch8n8e with our industry community, 8nd r¢¢ognising that we're 8trortger together And As o Collective w¢ caTh effect real and l&qtin8 ¢hanB¢ and draw on ihe ¢xperti8e of our strategic parttJ¢rships. Providin8 the industywith Bxpertije driven by In8iBhts. With ac¢e88 io unique datll and insi8hts NABS ha8 many proof points that lit Bt the heart of its 8¢rvice development and ittfluencin8 llbility. NABS. AetlvStS NABS. princi￿1 Activitiea during 2021 to m¢¢t th¢ t)¢ed5 of our audience and deliver public benefit wer¢.. ProvidiftB In Advic¢ Line that provides individua18 Wlth Buid&nce &nd emp&thetic, confidential support. Takin8 calls primarily from ihos¢ ¢nquirin8 about ernoiion&l 8UPPOrt {of whi¢h th¢ mobt bignifi¢ant ar of support is mental heAlthl IAunchin8 9 SupportBot online 8eThice to 8ignp08t and SUp￿rt thos¢ ne¢ding advice acros8 4 range of iNwe from 8tres8 manllgement to redundan¢y. Providing a ¢gr¢m ￿•¢hIng serviGe supportin8peA>ple with job loss andlorlow wnfidence atriyk oljob 1085 or ai a ¢greer ¢ros8roids. Providing a range of therapeutlc Bervices for a broader rang¢ of issues 8u¢h as low 5elf-esleem, anxiety, depression. Brief. Obse￿Ive-C0mpU1slvQ diBOTder, trauma. p)S¢.traurllNtiC Btress di50rder and perBon&lity disorders, #mon8si other8. Providin8 & diBital wdvtc¢ presence on NABS Knowled8e Hub with dowiJioad&ble And video8 on subjects Ju¢h r¢dundancy and anxiety management Providing ¢ar¢¢r ￿&¢hIng v>a digital chaYLtsels with ¢ar¢¢r development. c8reer cr088roads and ¢onfiden¢¢ being the main theines in 2020 and 2021. Providing career masleTcla&se$ acrojs a range of ar¢48 incl￿ding DE&I, Confidence and Oravit44 RrsilicTLfC and Workin8 Parents. Bringing thc advertLSLll8 and media Commutsity tog¢th¢r through o series of evenls, deliver¢d through o rnix of online and in r¢AI life meihod8, 8UPPOrting new And middle managemeTht mentees with a range or personal and prof¢8sional is8ues And otYerin8 a much-needed support network, Running A 8eri¢s of NABS Talkg focusittg on key issues facing p¢ople in ow illdusty. including DE&1. wot*ing par¢nts supporf, anxirty, mental health and Strus And re8ili¢n¢¢. Camp8i8niug io end 5vxual har&85ment within the advertising And media industy and launchin8 the ¢omm¢rGial ¢iTneTo trailling programtne that began it) a testing phase in 2020. LaunGhin8 NABS Training progronmie via NABS Trading off¢ring the illdusty a selection of training prograrnmc5 on topics such as Hybrid Mana8em¢nt and Innu￿¢¢ to add an additional, Importantl￿orne stre￿ll into NABS with Hll pmfits going back to NABS charity. Page S

N A B S (A charitable company limited by guarantee) TRUSTEES, REPORT FuTther dcveloping the 'reim&ginatioD stratcgy, activity focused in 2021 on lech enhancement5 and improvements to oDlille service provisions alongside working OD thiving further efficiencies itt the delivery of NABS advice t￿￿Ough further automation, due for laullch in 2022. PrornotiThg NABS work to our donors and 8UPW>rter ensuring awareness of NABS essential and sypportjV¢ 5¢rvic¢s ￿ w¢ll as our ev¢ryday activiry to 8UPPOrt he&lthi¢r ways of working and su¢ceeding in the industy. Surveyit)g indwty individualB fiDm marginAli8¢d gTOUP8 ¢0 understand their wellbeing needs to dTiV¢ NABS cot)iinu¢d 8ervice improv¢mwt8 And intluen¢¢ to champion change for good acro88 the industy. Rlik m4n•gem¢nt Th¢ Govem8n¢e Committee of the Charity updates and review8 th¢ ri8k r¢8i81er af regular committee m¢eut)g8 and reviews and forniulates ri8kmiiigation plan8 which it thenre￿mM¢thdS io fheExecutive Committee. All are of the Charity ar¢ ￿¥tred by * ¢ompT¢hensive risk a88easmeni. In 2021 we con8id¢r ourprincipAI risks to be.. NABS, ability to raise fuTLd5 from newer, more 8U5tainable growth incorne areas ovcr the lon8er tenn. NABS, reliAnce on traditional medla donations is problemati¢ over the 10ft8er temh due to both the complexity of the procesB to translalt the donation8 a5 well ll5 lh¢ declinc itl More traditional medill, overtaken by digitlll and namely digilAI d<>nati¢)rts btsughi ind sold pro¥rBmtn&iicAlly, that NABS is currently Struggling to convert for the Ghllrity's benefit. NABS, ability to s¢rvi¢¢ demand through ¢lTi¢ient Ind ¢05t-¢ffxtiv¢ wayB encowagiy)g th¢ 1gk¢ of NABS, digital produ¢t$ and virtual deliv¢ry methods. NABS, ability to 8timulat¢ indysty d¢rnand and $i8nifi¢ant related n¢w inwme from NABS TraininB Products whilst keeping overhead5 manageable to translate into pmfitdble m3r8ini NABS. ability to diftcrentiAle ilgelf in the longer term And M¢ourige take up #nd continued ¢n¥ayement of its wellbeing getvice provision in a highly competitive well￿1n8 market. Achlevemen¢• ••d Ferform•n The foll¢Jwing objectives. set under the above Aims, which the charity use8 to measure its perfom)art¢e and 8ucce8s, w¢re Bet for 2020-2025. and updated in year due to Covid-19. Objtttlvei: To Maintain a reputation for hi8h quality. humatt-centred heartful support As we transfer 4nd expand our iDdusty r¢ach. To me¢t in¢r¢g8in8 d¢msnd. r¢8pondin8 to diverB¢ and ¢volvin8 industy needs {in¢ludin8 Covid-19) 2. To ¢n$uT¢ NABS quality, direction, inY¢$tm¢nt deci8ion$, and 8ervi¢e d¢8ign are it)forni¢d by regularly monitoring measuring and anaJy8ing for continuou8 improvement. 3. To streamline data wllAiion and reF￿l￿g pr￿¢$8¢¥ for greater insights and reBpon3iveness. To beeome a leading industry influencer, to dri￿ positive chattg¢ atyA make real difference to industry Cult￿¢, through in8ights. 4. To tra¢k industry mood and opinion to add & uniqu¢ layer of evidence to NABS industy knowledge and i￿]ghts. 5. To provid¢ leading w¢llbeing wmment to the industy, to ueat¢ poJitiv¢ ¢han8¢ for good ar0￿d diver8ity, inclusion, management, and lead¢r8hip. 6. To collabor&te with industry role models who ern￿1￿1¢ NABS valu¢8. to str¢ngth¢n NABS i]￿V8¢ry impaet. 7. To implement a M￿surableNABS D,E &1 strateBy (internal It￿ external) by2023, 50 thatwecall model the way and be th¢ chang¢ we wish to se¢ in the industry. 8. Tob¢¢ome an active ally Organi￿tIOtJ, bypromoting th¢ adV￿ceMent of adiverse and inclu8LV¢ industry ¢ulthr¢ for a g￿ter sen8e of belonging for all. To trawform NABS operating model tor lon8 tern) financial su8tainability. Page 6

N A B S (A ¢haTitsble wmpany limited by guarantee) TRUSTEES. REPORT 9. To develop a teCht￿lo￿Y ett&bled s¢ryice delivery Approach to reth￿e COBts and i￿r¢26¢ acc&%sibility 10. To develop a commerci&l, wellbeing 8ervic¢5 offer to jDcrea5c future income potential. I l. To develop a fundraising strategy for in¢reasin8 income strellms, engag¢memt and Community 12. To continue to prove the valu¢ of wellbeing on the business bottom line, proving NABS impact to drive 8UPPOrt 2nd income. 13. To model and p]all fit)4ttciolly to M￿age risk and ensure foundatio￿S Are laid for effective income And oper81ions. DurlnK 2021 we •¢hleved To rnaintaiTh a reputation for hi8h quality, human-¢¢ntr¢d, heartf¢lt Support a8 w¢ transforni and expand our industy r¢8ch.. Over 4.250 individuals ￿¢¢88¢d NABS. core 8UPPOrt 8etvice8 benefitin8 from expert Buidanv. advice and support to improv¢ thcir w¢llb¢ing and mentAI health. 3.471 individu￿￿ were 8UPPOrted Across NABS dedicated Advice line and ¢)nlln¢ advic¢ 8eryice& 344/0 of all call8 to NABS were for emoti¢)nAI support. Mental health, work pr¢Jwru, low moodl low confiden¢e hav¢ ¢ot)&isi¢nily remained the top 3 reasons for callin8 NABS for etDotion81 support. Calls on M¢uig1 Ileglth accouTLted for 55Yo of the emotional ￿llpport u113 it) 2021. 225 individuals were brought to8etheT through NABS metlioring initiatives giving advice and a supportive network to new and mid-l¢vel employees lookit)g for additional 5UPPOrt And dIr￿tiOn. The launch of theNABS SupportBot ¢nAbled individua18 to 24hT SUPPOrt for theirm¢nlal health And wellbcin8 44 financial 8T8nts were awarded in 2021. The biggé8t proportion of NABS 8rRnt8 this year ha8 be¢D directed toward 8¢neral living and general hous¢hold costs, oft¢n with ihe purpo8¢ of buying the llpplicant more time to develop a plan for finAneial 8UStttin#bility AlonBsid¢ the 8UPPOrt grants we've offered 9 upskillin¥ Brants to 8urvort individual8 with their ¢)tt8Oits8 training ne¢ds includiug digithl mArkeiinM, design And photQBhop, le•der8hip. d¢8ign and 6ir8tegy courses. 417 indtYidua]s were supported by NABS caT¢¢r ¢ooching 8etViC¢8, Wlth reasons for contact includin8 oyetwhelm, low confidencc, workload, support m8n8ging ieam8, manaying hybrid workin8, confidence and w¢llbein8 1.342 iftdividual8 have attendcd NABS, onlin¢ group ¢oa¢hing myier¢la55e5 this yeu for jupport buildinB their r&4ilienc¢ or ju881ing 88 a working pareni from home. NABS Knowledge Hub provides a dedi¢ll¢ed home for di8ltal advice and has 8upported individu￿8 across mBny exp¢rienc¢8 8u¢h as redundancy. &tress llnd pressure. 94 individuals Accessed NABS therapy awo88 & r4n8e of se￿1¢e8 from Brief Therapy to Ctsgnitiv¢ B¢h8viour81 Therapy NABS intcracted with over 14,500 individu.als thrO￿h its 8¢tViCC8. talk& eYent8 community fundrai8ers. 96010 would ref¢r oth¢rs lo NABS for ac¢e¥8 to therapy. 9W/o would recommend NABS ￿aSterCIa8ses and coaching to a friend or colleague. IOOOh rat¢d the NABS AdvAc* Litie 8ervi¢¢ 8$ v¢ry goodw¢xc¢llent. To become A leading industy influencer, to drive positive chhnge And mako D T￿1 difference to industy culture, through iL¥igbts. NABS ￿rried out of 70 hours of fo¢us group res¢8r¢h witb itidividu#]s from mar8itialised grnw to identify Gritical mental health and wellbeillg D¢¢d$ to upJat¢ attd tailorNABS supportive service provision NABS partnered with div¢rsity parttLW5 MEFA. Brixton FiDi5bing School at￿ thtvertising on this re8￿ch to en8ur¢ maximum learnings And continued insights and cxpertise. NABS ¢arried oui updated r¢5carch into cradic&tin8 sexual harassment in the industy and updatedthe timeTo Code of cottdu¢t developed A paid for trainins programme that ov¢r 1,300 it)dividua]6 look pllrt in. Page 7

N A B S (A cbaritable company limited by guarantee) TRUSTEES. REPORT NABS Brilliantcreative Mind5 partnership and code of conduct launch tookplace in 2021 to furtherpromote the b¢n¢fit of good w¢llbeing on th¢ ind•'s leve18 of creativ¢ oulput NABS publisheil lis quarterly s¢tvi¢e usage reports wilh r¢wmm¢ndations for ¢mploy¢¢8 and ¢mployer8 alike to furtlw prove ow innu¢nc¢ wl thattge for sood agenda 80 piéces ts(proo¢tive PR were carried oui in 2021 to ensure NABS profile key iopics as mental hralth And wellbeing retnained higb and frottt of mind for our supporters, donors and setwiee UBers. NABS Speed Mentoring with MEFA and Outvertisityg coutinucd to providc a supportiv¢ aud at) it)¢lusiv¢ nehvork of role models to improve the lives of industry individuals. NABS T&lks 5eries-crcatin8 platfonns for mar8Lnalised 8roup5 acr05S topics such mental health, Allyship. finding pllrp¢)5e and 8elf-c4re. Over 2,300 individuals wer¢ reached thmuBb all st&ff meettw, and I.. I meetings with industry CBO'5 and HR leads, to spread the NABS word and ensure our 8¢ryic¢ provi8ion was 4C¢a$8ible and understood by all who tjeeded us in 2021. To tran8fomi NABS operating model for long l¢rm fin￿¢1a1 8U8t4in4bility. rn 2021 NABS continued its 8trateBy of Reimagination to build on the efficiencies and t￿hnologi￿1 improvement8 in 2019 and 2020 NABS Introduced ll ten-yoar finllncial model lo out income & expenditure 8ceftorios io ensure 14 sustainable level ofroservel for the fvNr¢. NABS. pAid for training arni tested to d¢velop a new in￿rne str¢am to div¢rsify and grow NABS inwme throu8h tradin8. In 2021 NABS met its planned income tar8et from this new actLVLty. NABS, fuThdrai8in8 strategy WAS developed to drive a longer-temi vision for inwme 8¢neration. NABS developed a series of tech deliver methods across setviee provision, events, and fvndrAjSLn8. NABS Digitsl Redundancy Tool and SupportBot were fully embedded and inie8r&ted by the endof 2021. driving efflcient delivery of lldvice ond support beyond the Advice Lint. NABS Phone Automation projcct testing was finaliscd for a 2022 roll out of the new tech ￿ improve th¢ 8UPPOrt advisor's dbility to mana8e multiple live calls in mote etyiciont ways. PLANS FOR FUTURE PERIODS In S¢ptemb¢r 2021 the NABS team gnd board oftru$t¢¢B S¢t about an evaluation exc￿15¢ and a plllnnin8 process to plan out NABS priorities for 2022 llnd beyond. With 4 8ignifican¢ loss of incom¢ ov¢r ih¢ 188t two y¢&rs, due lo th¢ impa¢t of the pandemic. it is e58enlial ihwt NABS activity in 2022 and b¢yond is impacifijl sustainable and that fundr&isin8 and support is stron8er than ttvr. The following Area8 are considered of critical importance over the coming yeAf8- NABS ability to translate di8ltal media donation8 throuBb programmatic methodB to engure a media growth area can be fully capilalised on. The #bility ofNABS to thrther diversify its fimthgising ￿tivIty to balance out its Ove￿¢11￿¢¢ Im m¢di8 doD8tions As NABS complete8 another year of te8tiog, the success of NABS trading trials to bring about vioble new incomc 5tre8Tn5 Ln thc long tcrtn The ability for th¢ industry to continue to support NABS at the same or incre&4ed levels as company's m¢r8e and consolidate, alon8side the 8lobal IUS Ommed digital dominance fvABS' ability lo provid¢ ￿Sential &llyship and t&ilored6etyi¢r provisiontomarginali8ed industygroupB io enhartce their wellbeing and belonging. NABS ability to cohtinue to ongage &nd provide eommutiity8UPPOrt in a more dispar8ts. hybridworking world post covid NABS ability to diff¢r¢nti&t¢ prove its case for support and eng88eD]ent in & highty competitive wellb¢iug mat¢t Page 8

N A B S (A charitable conwany limited by guarantee) TRUSTEES. REPORT Despite a very tougb couple of y¢ar8 for the industry aTLd NABS, the industy has 8een A rate of recovery growth itnever thought possibl¢. NABS bgs also weathered the storm well andhas innovaied flexed to dcliver in new and morc accusible ways acros8 both its service provision and content d¢v¢lopment. With $trid¢r ROI criteria in place and efficiency and rnnovation continuing io drive NABS 5trAte8y alon85idc new income strategy, NABS is fully Committed to hclpiTLg eveD morep¢opl¢ in 2022 andhe8 budgeted a¢cordirt¥ly and will fimdraise with thi$ priority in mind, to continue to be there. providing w¢llb¢ing for all. By the end of 2022 NABS expects to be baek wi to the in¢om¢ Icv¢18 of £2,670k to delivcr on thc detsiled ambition$ above. FINANCIAL REVIEW Th¢ prin¢ipal fimdinB 8our¢es of the or8rtni8ation are volyntsry in¢om¢ And donations (£2m12020.. £1.8m)1 gnd charitabl¢ tr•ding activllies (£0.5m {2020.. £0.018m)l. Th¢ ¢on801id8t¢d results for the end of the year produced income of £2.5m (2020.. £1.8m). a8aitt8t expenditur¢ of £3.2rn12020: £3.2m). NABS Trading Limit¢d, a wholly owned subsidiary of the Charity, is responsible for the or¥ani8ation of the at)nu&l Stranger than Surnrner Charity Ball. Fast ForwArd trainits8 programme. timeTo training 8nd th¢ new NABS Training and earned a profil before t&xation of £I70,50712020.' £55.411 Ios5} and distributed £167,756 to NABS12020.' nill. The operdtin8 defi¢it of the consolidated accounts (including unreali50d gain from invesiment assets of £350,516) £351,524 (2020.. £1,023,113 defirii). The year ¢nd n¢t Y$8¢18 w¢re £5.3m12020'. £5.7m). To aid c08hflow (due to the 1085 of income in the 20201 wtthoul having io draw down from NABS, inv¢Btment portfolio th¢ Ttustees Agreed to upply for a loanof £l.Im under the governmcnt8 CBILS loan scheme (via NABS. RBS bank). With the Scheme offering An interest free loan with no capital repayments until the tho cnd of the loan p¢riod it w#¥ agreed thatthis oplion wouldb¢mor¢ flnancially beneficiAI to the charity ihan cash2n8 in inve8tm¢nts that would probibly Bain irt VAlue. The108n agre¢me2Ji for £l.Im whs signed on 3 July 2020 to b¢ repaid in one year. This w85 repaid in July 2021 with ¢a¥h drawn down from inveytMettt8. GRAiYf MAKING POLICY 11 is NABS, &im, through the provision of fin4n¢ial 48¥islance combined with practical support. to help improve and champion the wellbein8 of tho$e in our indu8rry, pui it8 beneficiarie5 in a bcttcr POBltion for the ￿t￿re. allow its beneficiHrioE to take char8e of their live8 and ¢n&ble its berteficiiries ts live indepcnd¢ntly. Appli¢a¢ion8 for Iinttn¢i#l support are made by compleiing ati appli¢ation forni and by providing 8upponing infomation. These are r¢vi¢w¢d to assess th¢ applicant's carcer Fustory and fillan¢ial circumstances Bgain5t NABS, clisibility criteria. Those oppli¢llrJt5 who meet ihe eriteria are a8r¢¢d by the Swpon Tethi Mythin their delegllted amounts or referr￿] up (to the Dir¢ctor, CEO or Tn]stee) as required. The Finance Cornmitte¢ r¢c¢iv¢ an Overview of NABS finattciai 8rants on 8 monthly ba8iB. INVKSTMENT POLICY AND PERFORMANCE The Finance Committee m￿￿g¢S the Charity's investments together with an Appointed professional advisor on behalf of the Charity. The application of tho inYcBtment gsset8 is revi¢wed regulitly with A desire to achieve improved investment prrfonnancc without exposin8 the ¢h4rity'$ 4SS¢t$ to unreasonable inveslmeTht risks. In accordBn¢¢ with the investment policy. invutments are held itt & di8¢r¢tioDary managed portfolio. The NABS portfolio dccrcased from £4,795,734 to £3,633,115 during the year which included A dr6wdowD of £l.Im tu repay the CBItS loan in July 2021. pl￿% odditional amouttt of £428,115 to aid c8shtlow. The markets ¢ontinued to rally ith 2021 with an increa8e of £365,499 (I l.l9/o) in value shown at tbe y¢4r-¢nd. No targets have been Set for the year ahead but a re8uior updat¢ on c&5hflow is key to pinpoint if further drawdown IS Deeded to r4id cashtlow. Page 9

N A B S (A charitable company limited by guardnt¢c) TRUSTEES, REPORT RESERVES POLICY C¢)TkSidctution for the res¢ryes strategy is nDm)ally mJd¢ in three way$.' Working Capitsl o Medium tcrnj rc5eNes- unforeaeen circumstsnce6 Lottg terni re8etV¢8- AliBned with our strote8i¢ objKtLve Based on the ri5k5 to income as Set out in this report And a¢counts, res¢tves are held in cas¢ of any sudden decline in income and to eftsure thAt eommittnettts 10 providing seryices for fiD8nciAI 8UPPOrt And 8rantS to b¢n¢fLciari¢8 can be mad¢ with some confjdence whi18t ensuring resetve$ ore notheld oi unne¢¢ssArily high lev¢l$. In r¢vi¢wing the 2018-2020 budKet PTojeciion8 NABS. Tn￿teeS approved A planned dr8wdown of reseryes to accelerate or8anisation 8fOWth and response to growing dcmand from bets¢fi¢iAri¢s and a longer-krn) t8r¥¢t l¢vel of sufficient frec rc5erve5 equivalent to no le&$ than 5 months fotward expenditure. AS at 31 D¢c¢mber 202 1, the Group's free reserves (excluding rcstriclcd and dcsignatcd fundy, Y4nd tangible and inthngible fixe3J as8ets) amount¢d to £4.7m 12020.. £5.Im). With &stimated annual rtet expendittue of £3.3 million per the 2022 QI refore￿5t budget. thi8 means 17.1 rnonths forwArd urJrestrActed expendiThwe would be ¢over¢d At the year.¢nd. The focus continues to be on A Sustainable through ¢¢Ghno5ogy aDd iDnov&tion to expand NABS, T¢￿h aTMi bTin8ing cultural ch&nge focusing on diversity and inclusion. Due to Cowd-19 the Tru81¢￿ reviewed th¢ re8¢rve policy in 2021. Based on (he Severity of 8 8igrtificATlt mediurn-temi loss like the one exp¢riet)ced thie to Covid. 19. th¢ Tn￿1¢¢& hove ggTe¢d a policy of between 6 to I I months a8 their longer itml gOAI to enable NABS. Re. imaginaiion prO￿amme lo Continue and protect from further income shock. The de8i8n8t¢d r¢B¢rveg gre currently for the use of beftefLti118 NABS, beneficiAfie8 living 4t P¢t¢rhou8¢ Ilt request witb no cutTent time limit on their use. Two of the three resiricied reserves are donation8 mode and 8pent annullly with 4ny balanc¢ urried forward to the next year. The David Pilton aW￿d is a one-ts(fdoDaiion thit h88 been r¢du¢ing gradually each year. currently bein¥ used to support NABS. Ambissador Pro8r8mm¢. PUBLIC BENEFIT Th¢ Tn￿1¢¢6 hiv¢ ¢omplied with their duty to have due re8ard to the ¥uidthce on Fbjblic Benefit published by Th¢ Charity Commi&8ion in exercising their power or dutLCS. NABS publiG' 15 anyonc who has Spent A large proponion of their ¢4reu workin8 In th¢ mrtelin8 services indu8try I'lhe Industry") and Suppliers whose bu8ine88e6 8pe¢ialis¢ in providing seryices to the Industry and any persons who have or have At Any time been d¢p¢nd¢nt upon onyp¢rson ¢n8ag¢d in the Industy. The'betLefit' offered lothis community includes theprovision of crisi¥ grgni¥, advice, 8UPPOrt, career coaehing, promotion of physical and mtnlal hcallh and wel1b¢in￿> th¢ advancemenl of oducation in the marketing, adv¢rtLSIDg 8nd ¢r¢aliv¢ induBtri¢$ and high professional staDdard8 and ihe promotiot) of equality and diversity in the Industy. AUDITOR RSM UK Audit LLP has indi¢a¢ed its willingness to continue in offi¢¢. Approved by the bogrd of tn￿t¢¢9 on 20 July 2022 Bnd Si￿ed on it8 behalf by Karla Smith Trn8tee Poge 10

N A B S (A charitsble company limited by guarantee) STATEMENT OF TRUSTEES. RESPONStBILITIES STATEMENT OF TRusfEES' BESPONSIBILITIES The TTUStee8 (who are al80 director8 ofNABS forthc pulposes of company law) are respon8ible for pr¢pAring the Thiste¢8' At￿￿￿ R￿ort alld the financiAI statementB in accord￿￿¢ with appli¢obl¢ law 4nd United Kingdom A¢¢owi¢it)g Standards (Unitcd Kingdom Generally Accepted A¢¢¢)unting Practi¢¢). CoM￿nY l&w requir¢s th¢ Tn￿¢¢3 to prepare fmhn¢ial statem￿t& for each fift￿¢1￿ ye4r. Undor company law the Tntstees must not approve the finalleiai statem¢nts wil¢B8 they Are Satisfied that they give a In￿ and fair view of the st8tc of affairs of the oharitable company and the group Attd of the ltiG0￿1￿% resources And Application of resour¢es, includin8 the income and cxpendityre, of the charitable group for thoi pcriod. ID preparing thes• financial 8tstcments. th¢ try8tMs are r¢quiTed to: select suitable 8￿OuntIng poli¢ie8 and then typly them ronsisteftily; observe the method$ And principles in the Charities SORP,. make judgm¢nt8 and e81imateJ that are reasonablc and prudent. state whetheropplicable accouniing stsndards have been followed, 5ubjectto anymat¢riil depArture8 diKloJed and ¢xplain¢d in the financigl statements. and prepar¢ the fin8n¢ial slaiements on ihe goin8 concern ba818 uniw it 18 inappropriate to pre8ume that the haritsble ¢ompAny will continu¢ in businw. The Trust¢¢8 are wponsible for ke¢ping proper Accounting records that di5clo￿ with r¢aJon&ble g¢cura¢y at any time the financiol posititsn of the charitable compAtsy enable them to ¢n$ur¢ ihgl the financial stAt¢m¢nts comply wilh the Comp&ni¢s Act 2006. Thcy arc al80 rcspon5ible for safeguarding the 88%18 of the Charli￿ble ¢ompany and the Broup and hence for takin8 r¢aAottable steps for th¢ pr¢ventirn ond d¢te¢tion of fraud and other irregularitieg. STATEMENT AS TO DISCLOSURE OF INFORMATION TO THE AUDITOR The Tn￿le¢S (who are al80 directors for the purpoB¢S of Company law) in offi¢¢ on lh¢ date of thi8 report have )firmed, ag far as ihey are AWAre, that there is no relevant audit infornution of which the auditor 18 uttiwAre. Each of the Trnstees has confirnied that they have t&ken all the 81¢p8 that they oughi to have i*keD as Trustees in orderto mAke ihemaelves aware of any r¢lcvant audit inforn)Ation io establish that Lt has been commuDi¢&tcd to the auditor. Pagell

INI)EPENDENT AiJDITOR'S REPORT TO THE MEMBERS OF N￿$ OplnloTh Wc have audited the financia] statcmcftts ofNABS (the 'pArent choritable company.) and its subsidiaries (the 'group') forthcyearendcd 31 DC￿mber2021 which compri5C th¢Con50lidat￿ Statement ofFinan¢ial Activitie the Consolidated and CompaTLy Balance Sheets. the Consolidated Ca8h Flow Statement and notes to the fitJan¢iai staternents, including significant accounting policirs. The finanGi&l rcportiThg frxTncWO￿ that has becn applied in their preparation is applicable law and United KiDgdom Ac¢oubting St#nd4rds. includi¢)g FRS 102'TheFinan¢ial Reporting Stsndard applicable in the UK and Republic of Ireland" {United Kingdom G¢n¢rally Accepted A￿Ounting Pr8Ctic¢). In our opinion ihe fitsAnci￿ 8tstements.' 8iv¢ a twe and fair vi¢w of the state of the group's and the parent charitable compHny's Hffairs as at 31 December 2021 and of the ￿0Up,5 ineomitlg r¢80urces and appli¢atioTh ofre50urc¢5, in¢luding its income d ¢xpendityr¢, for th¢ y¢ar then ¢tyl¢d., have been propuly prepared in ￿ordanc￿ with Unit¢d Kingdom G¢n¢rally Accepted Accountin8 PrAciice' and have been prepAr&l a¢cord&#ee with th¢ requirements of the Companies Act 2006 and the ChArities Act2011. Bsl• for oplnlon We hive been ippointed auditorj under the COm￿nIC$ Act 2006 And 5￿tion 151 of the Ch8riti¢J Act 2011 and report in Accordfjnce with those ActA. We conducted our audit in aceord&nce with International Standards on Auditing (UK) OSA8 IUK)) and 4pplI￿b1¢ law. Our responsibiliiies under thgse siand￿d$ are thrther d¢8¢ribed in ihe Auditor'8 f¢8poDsibililie8 for Ihe gudit of the financial Biatements seGtion of our ieport. We are independent of the group and pAr¢nl charitable tompAny in acGoTdancc with the cthiGal rryuircThrn18 that are relevant io our audii of the finan¢i&l $1at¢ment8 in ihe UK, including the FRC'S Ethical Standard And we hAve fvlfilled our other ￿h1¢&I responsibilities in uccordAnce with these requirements. We believe that the audit evidence we have obtained 16 sufficient and appropriAt¢ to provide basis for our opinion. C•ntlu•lon# relitlN¥ to 8oln8 eonetrn In auditing the financial statements, we have concluded that the tn￿le¢￿' use of the 8OillB CODCern baBiS of accountin¥ in the preparation of the fitsaneial Statements is appropriate. Bised on the work we have perlomied. we hAYe nol idertlifjcd any mirial uncertainlies relating to evont8 or ollditions that, individually or collectively, may ca&t significant doubt on the group's or parent Charitable company'5 ability to continue a5 & 8oin8 concern for A period of at least twelve months from wllen the financial statement5 are authoriBed for issue. Our reBponsibilitieB and the responsibilities of the tru8t•ea with respect 10 80illg concern are described in the r¢l¢vant seclions of ihis rq￿rt. Other Informatlo The oth¢r inforniation comprises the infonnotion it3clud¢d in th¢ Tryste¢s' Report other than the fin8ncÈal statements And ow auditor's report thereon. The tn￿teeS dre responsible forthe other infonnation contained within the TnJsi¢¢s' Report. Our opinion on th¢ fin8n¢L81 statements does not cover th¢ other inforni&tion and, exrKpt to the ext•Jt oth¢nwi5¢ rxpliritly ststed in (Fur r¢port, w¢ do not ¢Xpre￿ any forni of ￿Vrance conclusion thereon. OUT Tcsponsibility is to read th¢ other inforn)ation And. in doing 60. consider whether the other inforn]Ation is materially iDctsn$istent with the firtan¢ial statements or our knowledge obtained in ihe cour8e of the audii or otherwise appcars to be materially misstated. If we ideotify such matoriol incoD8iStettcies or apparent material misstatements. we are required to determine whether this giveg Tise io a maierial mi&%tY4tem¢nt in the financi&l statements themselves. If, b&8ed on the work wc have perfonned. we collcludc that th¢rc is & tnatcrial misstatement of this oth¢r information, w¢ are required to rcport that fact. We hav¢ nothing to report in this regard. Page 12

Oplni0Th5 011 otb¢r mAtters prucrlbed by the Compnle8 A¢¢ 2006 Jn our 0pttsi0￿. b￿d on tbe work undertakerl in the course of th¢ audit: the iDftsmiation given in the Th￿, Repor( which includes the Dir¢¢tor8' Report and th¢ Strat¢8lC Rcportpreparrd for the PUTposcsof company law, forthe flnancial year for whicb the financial statements are prepared is consisttht with the financial statcments,. and the Directors, Rq>ort gnd the Strate8ic Report includvAI within the TN$t¢¢8' Rewt hav¢ been prepared in aceordance with appltcable legal requirement8. M#lteri OA whlth we #rt req￿Ired to r¢port by eieepllon In lh¢ light of the knowled8c and understanding of the ￿0￿p and the parent charitable company and their ettwronment obtained in the course of the audit, w¢ have not ideniifi¢d mal¢ri81 missiat¢m¢nts in the Dir¢cttsrs' Report or th¢ Strat¢gi¢ R¢p¢)rt included within the Tn￿te¢s, Report. We have nothing to report in re8pect of the following mattus wher¢ tb¢ Companies Aci 2006 And the Ch&rities Act 2011 r¢quir¢ ui to r¢port ¢0 you if, in our opinion.. dequate and sufficient a¢wunlin8 hav¢ nol b¢¢n kept by the parent ¢harithbl¢ company> r¢twns &dequale for our audit have not been r¢¢eived from branches not visited by us., or th¢ parent ¢hAritoble company financial 6t&iement8 are Jwt in agreement with the A¢countinB records r¢ttwns: or certain disc108ur¢8 of tnJ8¢e48' remunerDtion specifyed.by law ore not made,. or we have not received All the information and explNnlltions we requir¢ for our audit. RtiponglblUtle8 of trusteei AB explairtcd more fvlly in the Stal¢ment of Ttusteej, re8pottsibilities out Ots P88e I I, the IT￿￿tee4 {who Bre aL80 the dircctors of Ihc charitablc comp&ny for the purposes of compsny law) are respon8ible for the preparation of the fLnanciol S¢Atements And for being satisfied that they give a t￿e and fair view, and for such intemal control the trustee6 detemiine 18 necossary io enllble the pre￿ratIOn of firtaneiAI statementa th8t are free from materill misslAtement, whether du¢ to fraud or error. In preparing the financial statemcnls, the t￿j￿t¢S are respot)slble for AuessinB the gTOUP'5 &nd parent ch8ritable ¢ompAny's abiliry to ¢ontirtue AS a ¥oin8 concern, disclosin8, as applicable, matters r¢lated io goin￿ ￿n¢¢rn and ing the going concern ba818 of aecouniing urJJe8S the trustees either irhtend to liquidhte the 8roup or pgrent chariiable ¢omp&ny or to cease oper8tion6, or have no reAli51ic alt¢mative but to do BO. Audltor'i reipoA$lbilitiei for the Audll of the flnAncll it*terneRts Our objectiyey arc to obtllirt reasonable as5urnn¢e about whether the financial 5tatcmcnt$ 8$ a whol¢ ar¢ fr¢¢ from material misstatement, whether due to frllud or crror, and to Issue an auditor's report that includes our opinion. Re￿o￿#ble a8surance is a high level of assurartce, but 18 not & 8U8raiJtee that an audit conducted in 4e¢ordan¢¢ with ISAS (UK) will alway5 detecl a malerial mi55tatomcnt when il exists. Mi￿tateMentS can arise fram fraud or errDr and arc considcred material sf, individually or in the a88re8ate, th¢y ￿VId r¢asonably b¢ ¢xp¢¢t¢d lo iDflucnce the erA)nomic decisions of ￿r8 taken on the bdsis of thes¢ fittanctal 8tatem¢Nts. The extent to whlch the Aydlt IV88 conildered CApable of d¢t¢ctlng Irregylfirltle4 Ineludlng fraud Irre8ularities are instances of non-¢omplian¢e with laws and r¢8ulolions. Th¢ obj¢¢tives of our oudii are to obtain sufficient &ppropriate audit evidence regsrding ¢ompli8n¢¢ with laws and rcgulalion5 that havc a dircct rffcct on the detorn)ination of material amounts disclosures in the finortcial 8tatements. to perfomi 8udit procethire5 to help identify inBt8nce8 of non-¢omplian¢¢ Wlth other laws and regulations that may have rd material effect on the finan¢ial st9t¢m¢ntS. And to respond appropriately to identified or suspeGted tton-¢ompli&nce with law$ regulations id¢ntifird durirtg thr audit. In r¢lation to fraud, the objectives of our audit llre to identify and 8s8ess the ri8k of material mi$stat¢m¢nt of th¢ fillancial statetnellts due ¢0 fraud. t(y obtain sufficient appropriate audit ¢vid¢D¢e r¢s￿ding the as6e88ed risks of mat¢riAI misstal¢m¢ni du< lo fraud through designing and implementing appropriate responses aDd to respond appropriaiely io fraud or 8uspected fraud idcntified during th¢ Dudit. Pag8 13

However, it is the primary re8po#sibility of manhgern￿t, with the tsversight of those charged with governance. io ensure thai the eniity's Op￿tiOnS are Conduct￿ in accord￿¢¢ with theprovisioll5 of law5 andr¢gul&tion8 ￿)d for the preveoiion and det¢¢tion of fraud. In identifying and ass￿1￿8 risks of material mi&statement in resp¢¢t of irreBulariti¢s, it)¢luding fraud, th¢ group audit ugagement team.. obtained sn understanding of th¢ nAttwe of the sector, it)¢ludittg the Itgal and regul&iory frameworks that the group and par¢ni ¢haritable ￿Mp8nY opernte in and how the group and Parent Gharitsblc Gompany e ¢tsmplying with the legal and re8uIAtory fromeworks.. inquired of managemen¢, and those charged with Bovemance. about their own identification and ssessm¢ttt of the risks of irregularities. iti¢ludits8 Htly known actual, 511SP6Cted or alleged instances of discussed rnattcrs about non-compliance withlaws and regulations and how fraud mi8ht W¢llT includinB as8es5ment of how and where thc financial statements may be susceptible to fraud. AB a result of these procedwes we con8ideT the most Bignificanl law8 and regul&tion5 that hav¢ a dir¢ct impact on the financial Statements arc FRS 102. Charilic5 SORP (FRS 102), Cornpllnies Act 2006, Charities Act 2011, the parent charitable company'5 80V￿ltI8 document, and tax IcgL8lation. We pcrfornied audit procedures to delect non40mpliances which may have a material impact on the finllncial statements which included reviewing the financial It8tement$ including the Trustec8' Report, and r¢m&ining al¢rt to any new or unu8U41 iransa¢tiot)3 which may not be in a¢wrdan¢e with th¢ 8ov¢rnin8 document8. The rn0515ignificant laws und reBulations that have an indircct impict on the finHncial stgt¢m¢nt8 Ore ihos¢ in relation to the General Data Protection Re8ulation IGDPRI. W¢ p¢rforn)¢d audit pro¢¢dures lo inquire of m8na8ement wh¢ther th¢ grollp is in complianc¢ with these law5 gnd r¢Bulations, and ffquested ftny ¢otT¢8pond¢n¢e durin8 th¢ y¢ar and to dat¢ of which there wlls none. The group 4udit ¢ngagement t¢8m id¢ntified ¢he risk of management override of controls ond As the area wher¢ the finsn¢ial 8lat¢m¢nl$ were most sw¢¢ptible to material miss¢4iement due to fraud. Audii procedures perfom)ed in¢luded but were not limited to lestin8 manual journal entries and other adjuslment8, evaluaiiii8 the busine8$ rational¢ in r¢lation to any si8nifi¢ant, unu$ual transaction8 and tr4nsActions ¢nler¢d into outside the nomial cour8e of business Rnd ch8llenging judgment8 and estimat¢8. A further d&8cription of our responsibilitie8 for the audit of the financial 8t4t¢mellt8 is provided on the Financial Reporting Council'8 website at http.'l/www.frc.or8.uk/audilorfjresponiibilitl¢8. Thi8 desuipiion forn)8 pan ofour udilor'8 r¢port. Ule of report Thi8 report is made $ol¢ly to th¢ ch4rilabl¢ ¢omp8ny'8 members, 48 a body, in a¢cordan¢¢ with Chapw 3 of Part 16 of the Comp&nie$ Aci 2006. OUT audit work has been undertaken 80 thal we might slate to the rhoriloble company's m¢mb¢rs thos¢ m¥tters we are required to stal¢ to them in an &uditor's report ond fornts otlier purpose. To the fv11¢8t ¢xt¢Tht perniitted by law, we do not 8¢¢¢pi or assume re8PO¢)8ibility to Anyone othcr thon the charitable ¢ompAny and the charilable compat)y's members a8 i body. for our Audit work, for this r¢po¢ or for the opinions we have fornied. SARAH MASON {Senior Si#tutory Auditor) For and on behalf of RSM UK AUDIT LLP, Statutory Auditor Chartcrcd Accountants The Pinnacle 170 Midsummer Boulevard Milton Keyn¢s MK9 IBP 29 July 2022 Date RSM UK Audtt LLP is ¢ligible to &cl as an auditor in tem)s of 8e¢tion 1212 of the Cornpanies Act 2006 Pa¥e 14

N A B S (A cbaritable company limited by guarantee) CONSOLIDATED STATEMEKf OF FINANCIAL ACTIvIT￿s (including tbe Income and Expenditure Account) For tb¢ y¢ar ended 31 December 2021 Unrestricted FuDds 2021 Restrict¢d Tota] Fwid5 2021 TotBI Fund8 2020 Not¢s 2021 Income from.. DoHalion8 and l¢ga¢ié8 Othvtt&th'ttg ¥tiviti¢B Inv¢81m¢n¢8 1.897,630 498,954 16,987 80,C#)O 1.977.630 498,954 16.987 1,778,368 17.599 34,227 26,611 Tot￿ 1413.571 80,000 2,493,571 1,856005 Expendltsre on: Railing funds 1,756.154 ,756,154 1.673,457 Charitable activitieB: Gr8nt m8kiTh8 Coreers Couni¢Ilin8lAdYi￿ Lin¢ IB5,464 ,201,857 52,136 237,600 1,201,857 305,445 1,259,331 Tot*1 ¢xpMdlture 3,143,475 52,136 J,195,611 3,238J33 N¢t on inv¢8tm¢nt8 350,516 350,516 358.315 N¢t (¢xpMdibJT¢llin¢om¢ (379,388) 27,864 (351,5241 11,023,113) Net mov¢tn¢nt in fund Fund ball￿15 brougFLt fomrd at l January (379,388) 5.592,614 27,864 68,847 (351.5241 11,023.113) 5,661.461 6.684,574 Fujjd bAl4nces C￿1]ed forward 4t 31 DK¢mb¢r 14A 5,213,226 96,711 5.309.937 5.661.461 Pd8¢ 15

N A B S (A charitsble company limited by guarantce) BALANCE SHEETS- CONSOLIDATED AND CHARITY At 31 December 2021 Company Registration No: 03588945 roup Clwity 2021 2020 2021 2020 FIXED ASSETS TaDgible ￿¢15 Inve5tmeDts 277,287 3,647,569 319,528 4,810,188 277,287 3,647.571 319,528 4.810,190 3,924.856 5,129.716 3.924.858 5.129,718 CURRBNT ASSETS Debtors C•8h 8t bonk 4nd in hand 10 1,036.213 808,149 962.917 1,321,168 1.153.531 635,210 966.214 1,276,483 1,844,362 2,284,085 1,788.741 2242,697 CREDITORS.. Amount8 f&lling due within one year 1459,281) (1,752,340) (424,048) (1.729,110) NET CURRENT ASSETS 1,385,081 531,745 l J64,693 513,587 TOTAL NET ASSETS 5.309,937 5.061,461 5289,531 5,643,305 Repre8ent*d by.. FUNDS Restri¢led Fund8 UnTestricied fund8'. Designated thnd8 General fulld8 12 96,711 68,847 96.711 68,847 13 14 205,337 5,007.889 215,343 5,377,271 205,337 4,987,503 215,343 5.359,115 TOTAL FUNDS 5,309,937 5,661,461 5,289,551 3.643,305 The Ch&rity'g deficit for the year was £353.746 (2020.. £955,751 deficit). Th¢ finan¢ial staterneDts on pa8eB IS to 34 were approved by the b￿rd of tru8tees And 4uthorised for issue on 20 July 2022 ood signed on it5 behalf by Karla Sfflith Trustee The notes on pa8e8 18 to 34 forni part of these fingncial 81atements. Page 16

N A B S (A cbaritsble company limited by guarantee) CONSOLJDATED CASH FLOW STATEMENT for the year ended 31 December 2021 Nolej.. 2021 2020 OPERATfNO ACllVITKES Cash {u8ed in) operation8 15a (930,663) (1,350.039) Cotyoration tsxes paid (186) Net Ci8h (US￿ inl operating Activities (942,614) (1,350,225) INVESTtNG ACTIVITIES Pur¢h&w of tlln8ible fixed a55ets Purchase of investmertts Sale ofinvestmeniN Intere&t received Dividends received 115.170) (15,507) 127.312) 1,528,115 251,8()4 7,715 10,684 9,272 23,543 Net generated by iAV¢8tin8 a¢tiviti 1,529,595 243,549 FINANCING Acriv￿lEs Pro￿dI of ttew bank loan RepAyment of IM)rrowinB8 I,100,ooo (I,]IK),￿￿} Nei cash (used itsy8•nernted by fith*ncinB activitie 11.100,(x)o) 1,100,000 N¢t Id¢¢re&se) in cath and ¢quivalent8 [513.019) 16,676) C#ah ind cash equivalents at the begitinin8 of the ye•r 1,321,168 ,327,844 Coth and ca8h equivalents Al the end of the year 15b 808.149 .321,168 Pag¢ 17

N A B S {A charitable company limited by guarantee) ACCOUNTING POLICIES NABS is acharitable company limhteil by guarant¢¢ in¢otPOT8t¢d ID En81gnd andWaie8. Th¢ registered offi¢¢ be found pa8e l. BASIS OF ACCOtrNrtNG Th¢ financial 8tst¢m¢nts have been prepw¢d in accordance with Accounting and Reporting by Chdritie8: Statement of R¢¢omrn¢nd¢d Practi¢¢ applicabl¢ to ¢h9riti¢8 preparing th¢ir Accounts in accordance wilh the Financial Reporting Standard appli¢able ID the UK and R¢pub]ic of IrelAnd {FRS 102) leff¢¢tiv¢ l October2019) {Charities SOKP IFRS 10211, the Fioan¢ial Reportiog Sthndard 2pplicable in the UK and Republic of Ireland IFRS 102) the Compani¢8 Acl 21M)6. NABS m¢¢ls th¢ definiiion of o public benefit entiry under FRS 102. Asseis and liabilities are initially recognised at historical cost or transaction value wiless oihen¥ise sta￿d in Ihe relevant Accounting policy no￿8). GROUP FINANCIAL STATENfBNTS The financial 8tAtem¢nts are prepared irt 8terlin& which 18 the fvftctionlll GU￿enCY0( the group. Mone¢ary amounts in these fJnanciAI slaiemenrg ore rounded to the neArest £1. The financial statements consolidate the YeBuIts of the ¢hATily Jnd ils wholly owned subjidiary NABS Trading Limiied on a linc-by-line ba5i5. A separate Si&¢ement of FinanciAI A¢iivilie$ and ltt¢ome ind Expenditure AcGourt¢ forth¢ ehariry has hot beenpTe5enied becAuse the Trust ha8 taken &dvaThtage of ihe exempiion atyorded by seGtion 408 of the Companic8 Act 2(K)6. (JOTNG CONCER The company's busin¢s$ activiiie8, iogelh•r with the fhctors likely to t4ffect it$ fvture developmetst, p¢rfornJance and p08ition are s¢t out in the Trustees. Report On Pa8es 2 to 10. The Charity conlhnues to have a good level of ttserve8 and 80me of th4se are planned to continue beitLB deployed in 2022 10 eD$ur¢ demand for 5eTvi¢es from our ben¢fi¢iaiies is met at ihis critical tin*, to ensure the or8anisation inv¢818 in projecti that focus on lis lottg temi 8U8tainability and while income gTOW5 back tv 2019 levels by 2024. These reserves are re&dily realisable via the investment portfolio. During 2021 £1,528,1 IS was drawi down from the portfolio, £1,100,000 was needed to repay the CBILS lo￿ in July and th¢ r¢m4inder of £428,115 w¥$ ¢0 aid cashflow. Despite an ithdustry that Wa8 Substantially been hit by the pandernic, the annual commitment8 from the Marketin8, Communications And Advertising Scctor, who arc bnth Ihc chief sollrce of donations and fonn our m8in beneficiary 8roup. remains POSLtiYe. The annual bud8etin8 and qullrterly r¢fore¢aBlin¥ proc¢$$ are input into u longer tcml. Ioyr, fJnancia] plgnnin¥ model to identify risk points. The ￿ndraISing team r¢vi¢w and research ih¢ maTkei re media llnd corporate donation5 and hope to re¢urn lo 2019 levelB of incom¢ by 2024 if not soon¢r. Ca8hflow forccasting Igencrated from the bud8etlreforecasts} ensuTeB funds are available to BUPPOrt NABS a$ a 80ing concern. Long tern) financial planning $cen8ri0$ al30 look at lik¢lihood gnd impo¢t ofri8ks and delern)in¢ a timeline for key decision makin8 ie stoplslari of Reima¥ination proje￿8, Cost cutting mea8ures and investmetjt dT8wdown lo oid c8shflow. With these PTO¢¢8$e8 in place the Tn￿1¢¢$ believv thr group is well placed to manige its bu$inus risk SU¢¢eS8￿lly. Du¢ to the above rea8OnS the Tn￿te¢S have a r¢A8onAble expecthtion that the 8roup has adequate re&ources to coDtinue in opero1ion#l existence for the foreseeable future. Thus they continue to Adopt the 801tt8 eoncern ba818 of Ac¢owiting in prepariiig the allnual fJDaTLcial 51atetncTht FUND ACCOUNTING General Ilmds are uttrestricted fundswhieh Dre available foruse lltthe discretion of th¢ Tnytees in the furtheran¢¢ of the Betteral obl¢¢tiv¢s of th¢ ¢hwity and hgv¢ not b¢¢n d￿l￿￿ted for other putPo￿8. Designated fund$ cOtwi￿ ut)r¢stri¢t¢d fvnds that have b¢¢n $¢t asidr by th¢ Tntstee5 forparticularpu￿ost$. The aim 8nd us¢ of Ihe designated fimd8 16 set out in the notu to th¢ financial 8tattm¢nts. The funds ar¢ u%d Y4t the discretion of the Exe¢utive Committee. R¢stri¢t¢d fvnd8 ￿MprISe of fvnds ihat havebeen givento NABS oncondiiion that they ar¢ expended onputyoseg sp¢cified by th¢ donor. Page 18

N A B S (A charitsble company limited by guarantee) ACCOUNTING POLICIES COME Voluntary income is Ancluded in the accounts on the'bi8i& of amounts notified to the charity as i probabl¢ r￿cIpl or more likely thati not to b¢ re¢eivcd for th¢ financial year. The iThcome from aclivities illcludillg fvndraisRttg events for generating fimds i8 included it) the Account5 on a receivable basis. Invesknenl income is credited as income on a rcccivable basis. Mcdia donations are recognised when the sale of th¢ Advertising 8PAce is certain. All other income 18 included on An accruals b￿75. onc¢ th¢r¢ is sufficient c¢rtgiDty over entitlement And measurement it is probable that thc income will be received. Where rncom¢ has b¢¢n r¢¢eiv¢d in advanc< or conditions forr¢c¢ipt have #ot bccn met, this is treatcd as deferred income. LEGACJES tt8acies are credited as ittctsme on the basis of amounts notified to th¢ ¢hArity at the period end as reeeivable. This is on an acGrua15 basis. once ihere IB 5uffLcient certainty over entitl¢ment At￿ measurement and it is probable tbat the in¢ome will be received. OTHER INCOME- GOVERNMENT GRANTS Government grAni8 ittcludins CTRS are reco8nised on • TeceivAbl¢ bASi6 88 tbere we no Specific eimditio atta¢hed in tern￿ of wherc or when spent. LISTED ￿vESTmE￿8 Inv¢8tments are all Single priced (undB. Realised and unre41ioed gains And1088u on investment8 ire added to or deducted from the general unre4tTiCted thnd8. Realised gains and losse8 in the year represettt the difference between the disposal proce¢ds Ind in y¢4r pU￿h￿se cost orth¢ marke¢ value at the begi1￿]llg of the year. R¢alis¢d and unftali5cd gains and losses are deali with in the Siat¢m¢nt of Finan¢ial A¢tivitie8. Investment income is treated on initial reco8nition and sub￿quent m¢asurement then credited io income on accr￿13 basi5, U51rt8 dale8 olpaymtnts for dividends and daily accrnal for interest. Inv¢sttnenis are initially reeognised at C08t and are sub8equenily measured &t fair valu¢ al ¢￿h reporiing date. VALUL7 ADDL?D TAX Value Added tax is notTecoverable bythe charity, and a8 9￿h is in¢lud¢dwithit) th¢ relevant costs in the Statement of Financial A¢tiviti¢8. Th¢ wholly owlled 8ubsidiary is registered for VAT, which is reeoveredlacerued for required. OPERATING LEASES Rentllls applicable to operating le98e8 where 8ub8tantiAIty all the benefits And riski of tswnernhip remain with the le88or Are reflected in the Statem¢nt of Finw)¢ial Activities on A straight line ba818 over the leA8e terni. EXPENDITURE The areas in whi¢h r¢sour¢¢8 ore expended are itt Charitable Act¥YilieB (as per th¢ ¢haritable obje¢liv¢8),' Fundraising (expendi￿re incurred in iT￿Uring pcoplo and {￿ganiSatIOnS to contribute financially to th¢ ¢hArity'8 work., IhiB includes th¢ coat of stA8ing of8peciAI fjJndrai8ing evetits).. attd Governance (all exp¢nditur• rel&¢ing to nstitutional 41nd 8tstytory costs. its¢luding Ihe Cosi of extern￿ audit). ALLOCATION OF COSTS Direct costs are recorded under the appropriate heading. Indir￿t 8UPPOrt ¢08ts include owh¢ad costs, fiMn¢e. personnel, payroll and governance costs Rlloc&ted on a time apportionment And 6quare foots8e basis. Govornlltsce sts include audit f¢¢s aDd le8￿ and prof¢85ional fees as direct costs plw indirect Costs on th¢ Same bASib a8 pptsrt Costs. W8ge8 and 8Rl&ries have becn allocated between appropriate ¢08t headings a¢¢ording to th¢ duties and re8pon8ibilities of the individual staff. WELFARE GRANTS AND LOANS GY4t)ts and loans 4r¢ mlldc by the charity iTh fiJrther8nce of its airN. (hnts ore charged as r￿ourceS expended on att 8ecrua15 basis. Loan5 advanced are included as an aN¢t Of the inGlud¢d ￿ Programme Related Investments held at COSt less ￿W￿llI2t¢d impairni¢nt. Interesi receivable on the loan5 Udvanced, where applicable, is credited as ineoming reBo7￿ ill the Statern￿t of Financial Activities on att accr￿]8 basi8. Page 19

N A B S (A clwitable company limited by guarantee) ACCOUNTING POLICIES TANGIBLE FIXED ASSETS Tangible fjxed &8sets 8re stated at historical ¢08t Icss depreciation. Individual fixcd usets c05ting £l,(K4) or rnorE ar¢ ¢apiialis¢d at ￿¥t. D¢pre¢i8tion is provid¢d ¢)n all tangibl¢ fixed &s$ets other freehold land at rdte5 calculated to write each ￿set down to its ¢&timated residllal value eveDly over its expected useful life, as follows'.- FUrnI￿re and equipm¢nt Computer equipment OtTi¢e fijminwe ond equipmenl 10_20Q/o Straight line 200A straight lin¢ PENSION SCHEME ARRANGEMENTS The ¢harity operJte8 a definrd contrsbulion pension scheme which 1$ fvt)ded by coDtribvtion8 p8rtly from th¢ employees And partly from the chariry. Such ¢onttibuiion& are held in tsu8i¢e-Admini8t¢red fvt)ds completely independent of the charity's fmance8. Tbe &mount chorged to the SIAiem¢nt of Financi41 Aciivities in respe¢t of pension coals 18 the contribuiionj payable in ihe p¢riod. Unpaid 8mounl$ at th¢ year ¢nd ar¢ in¢lud¢d in other ¢rediiorn. DEBTORS Trade and other debtor5 are recognised At the settlement Amouni due after ￿Y trade di8¢ouni offered. Prepayments are valued at the amount Prepaid. CASH AT BANK AND IN I.IAND CA8h At bat￿ And in hand include8 e&sh and 8hort terni highly liquid investments with 8 8hort matiwity of three months or le8s from the date of acqui81tioN or opening of the dep081t or simil*r account. CREDITORS AND PROVISIONS Creditors and ptovisions &te recognised where the charity has a present obligAtLOn resulting from A past ¢veni thAt WLII probably re5uIt in the traTL8fer of funds to & third party and ihe atnount due lo settle the obligoiion can be measured or estimated relL8bly. Creditorn aftd PfoViSiOnB are ntsmlally recognised at their 8ettlement Amouni after allowing for any Iradc discounts due. FtNANCIAL fNSTRUMENTS The company ha8 elected lo apply the provisions of Sectiort I I 'Bk8ie Fittancial Instnlln¢nta' Alld Se¢tion 12 'OtheT Financial Instruments IsAueg' of FRS 102 to all of its financial instnirncnts. Fin&n¢ial itL8irum¢nt6 Are rrfo8ni$¢d wh¢n the ¢ompany becom¢8 paty to th¢ ¢ontractual provision8 of the i118twm¢nt. Financial Assetj ond liAbilits¢8 are offset, with the net amounts presented in the fJn&nciai statements, when there is a l¢g911y ¢nfor¢¢8bl¢ right to get off ihe re¢ogni$¢d Srnounts and (her¢ is an iDlention tct 8¢ttle on & net basis or to r¢Alis¢ th¢ 0s8el and 8¢tt1¢ the liability simultaneowly. BASIC FINANCIAL ASSETS BaBiC financial assets, which include trrtde ANd other receivibles, are initially measured at trat￿{LOtt price D¢luding tr￿8￿CtIOn costs al￿ are Sub￿quentIY cartied Y4t amortised rost beiTL8 the tra￿&￿¢t]0￿ price less any arnouDts settled and impairmen¢1085es. lMPAIRME￿r OF FINANCIAL ASSETS Finonci21 A88ets, oth¢r than tbose held at f8ir value through profit ond losy. ar¢ 08￿86¢d for indi¢ators of impaim)¢nt at ea¢h r¢ponin8 et)d date. FinanGial assets Are impaired where there is obje¢tsv¢ eviden¢¢ th8t, &8 o r¢8uIt of on¢ or mor¢ events that occurred after the iniiial Tecogrtition of the financial asset, Ihe esiimated full￿£ cash flow8 have been affected If an asset 18 impaired, th¢ impairnieTLt Ios5 15 the differ¢rtce between the carrying amount 8nd the present value of the estirnated cash flow5 disGounled at the ass¢i's Original ¢ff¢cihve interest rate. The impairnmt Ioss is reco8T115¢d in Profit or Ioss. Pag¢ 20

N A B S (A charitable company limited by guarantee) ACCOUNTING POLICIES If there is a decrease in the imp4imi¢nt loss arisirtg from AD event oCcU￿1n￿ aft¢r th¢ imp4imwLI was recognised, the impairment is rev¢rs¢d. The revcr5al 15 such that the current caryin8 amount do¢$ t)ot ¢xceed what the catrying amount would hive been. hAd the impairnlent not previously bc¢n r¢wgms¢d. Th¢ imp&imi¢nt revers￿ 18 rccognised in profit or105S. DERECOGNITION OF FINANCIAL ASSBTS Financial 8ss¢i$ ar¢ dere¢o8nised tsthly whcn tbe contractual ri8hts to the flows from th¢ Asset expire or are J¢ttla, or when the company transfers thè flnancial asset and substantially all the ri8ks And rewords of ownership to another entity. or if some significant ri4kg und rew&r¢ts of ownership 8r¢ retained bul control of the a68¢t has transf¢￿ed to another PArty that is able to 8ell the wei in its ￿tir¢ty ￿ an unrel&ted ihird party. CLASSIFICATION OF FINANCIAL LIABILITIE8 Financial liabilities and equity instrurnent5 are classified according to the sUb￿an¢t of the Contrnctual arrangements entered IDIO. An equity 1Th4t￿MeTht 16 gny contract that ¢vidence8 & r¢sidua] ini¢re5t in the a88Ot& of th¢ fOmPBny After dcductin8 ail of its li4bilitieB. BASIC FNANCIAL LIABILITIES Ba81¢ financial liabilities. which include trad¢ and oth¢r puyobies, Amounts owed to 8TOUP undertakittg8 and accNA18, are it)ili￿]Y reeogftised at tranS￿lI0n price and $ubsequ¢ntly meo$ured at amortiged coat, being tr8n5action price le85 any arnoun18 8ettl¢d. DERF.COGNtTION OF FINANCIAL LIABILITfBS Financiol liabilities are derecogniscd when, and only wheD, the ¢0M￿ny,& contractual obli8Yltion8 aro di8charged. cancelled. or they expire. EQUITY INSTRUMENTS Equity instruments issued by th¢ Company ￿¢ recorded At the fair vlllue of proceeds received, nel of tranBaction costs. Dividends P&yAblt on equity instNmcnts ar¢ re¢o8nised as liabiliiies ottce they are no lon8er at the di8Crntion of the company. CRJTtCAL ACCOUNTINQ ESTIMATES AND AREAS OF JUDGEMENT E8timates und jud8ements ar¢ ￿nIlnU?[1Y ev&lu)ied and are based on hi8loTical expericnce and oth¢r f&ctor8. including expcctlllions of future events that are believed to be reAsortable under the circumstance4. CrltlcAI AceoiiTltlni e8tlm*tei #nd xiiumptloni The charity mak¢J eslimal¢8 and 8s$umptiotl8 ¢oneernin8 the Ojftwe. Th¢ wultin8 ￿￿ountIng estimates ond

umptions will. by d¢finition, Seldom th¢ related actual results.

Crltl¢*l AreAi of Jvd%ement In catcgorisinB lease8 finance le88efj or op¢ratin8 I￿e8. m8tta8ement mwkes judgem¢nt8 8$ to whether sI￿rICant risks and r¢wuds of own¢r8hip havetransferrEd to the cbarity as Icssee, orthe lessee, wh¢Te the ch8rity i8.a les50r. Page21

N A B S (A charitable company limited by guarante¢) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021 I rNCOME FROM DONATtONS AND LEGACtBS 2021 2020 Doua¢ions Le8acies Rc5trictcd donations 1,867,630 30,( 80,000 1.724,877 3,500 49.991 1.977,630 1.778.368 INCOME FROM INVESTh(ENrs 2021 2020 Income from listed inv¥itm¢Thts - dividend8 int¢r¢&t 9,272 5,708 2,007 23.543 3,769 6,915 int¢reBt receivable 16,987 34,227 OTHBR INCOMB 2021 2020 CJRS. governmfflrt 26,611 26,611 2 EXPENDITURE ON PATsfNG FUNDS 2021 2020 Fut)dr&i8in8 ¢08*8 Brand relevoDcelmarketinB costs CJRS- 8taff eo8rA 1.131,454 624,700 .013,461 633,385 26,611 1,756,154 1.673,457 Page 22

N A B S (A charitable wmpany limited by guarantee) NOTES TO THE FINANCtAL STATEMENrs For the year ended 3 l December 2021 3 BXPENDtTURE- ALLOCAIION OF SUPPORT COSTS 2021 2021 Direct Indire¢t COA18 Sup1￿ ¢06ts 2021 Totsl 2020 2020 Direct Indirect Costs Support G051S 2020 Total Grant makit)g 237.6 237,6(N) 305,445 305.445 Czr¢er81¢oun8ellin Advi¢¢ Lin¢ 448,679 594,295 1,042,974 493,402 621.622 .115.024 Oov¢rnance 57.376 101.507 158.883 68,225 76.082 144,307 743,655 695.802 1,439,457 867.072 697.704 1.564,776 Choritable gronts are n]ad¢ 8olely to ittdividua18 on a ¢a8e by Case bg4i8. No 8rattt8 #iv¢n w¢r¢ mat¢rial in 8iu and all related 801¢ly lo welfare. The total number of bEtter￿l&tIeS in both ye&rn exce￿ of120. DIRECT SUPPORT COSTS 2021 2020 Provijionj. ¢it¢rinB and utility costs Propcrty and ¢quipm¢nt m8int¢nan O¢h¢r operuLiDg cob18 gnd depreciation 57,952 105.054 532,796 87.843 91,398 506,512 695,802 685.753 5 ANALYSIS OF STAFF COSTS AND THE COST OF KEY hlANAOEMENT PERSOKNEL 2021 No 2020 No Th¢ avw4g¢ number of st•ff employed by th¢ charity v/a8'. Fundraisin8 Welfare and ￿UnBel]In AdmiDiBtration and management 10 12 12 13 14 35 37 2021 2020 Their total remuneration was.. Wag¢8 8nd salaries Social Becurity costs Pet]8ion ¢o$ts TetDt*)rary stsff 1.515,071 160,448 65.115 4,500 1,480.409 154,764 64.098 61.034 1.745,134 1,760,305 Th¢ amounts Above i￿lUd¢ no ex gratia payments12020: 1 payment of £3,400). Page 23

N A B S (A charitable rompany limit¢d by guarantec) NOTES TO THE FNANCIAL STATEMENTS For the year ended 31 December 2021 Th¢ key manag¢m¢nt per8onn¢l of th¢ group and parent clwity conwis¢ the Chief Executive Offi¢¢r. Corporat¢ se￿1¢¢8 Director ADd tb¢ D¢p8rtm¢nt Diredors. The total ¢mploy¢e ben¢fit8 of tb¢ k¢y management person￿& of the charity were £591.101 (2020: £563,025) i]￿lUding ¢Jnploy¢r's Nl of £58,369 (2020: £63,261). The ￿UMb￿0f employe¢8 whos¢ emoluments [￿lariC8, WAge3 and benefits in kind) fell within the followin8 bands 18: 2021 No 2020 No £60.000- £70.000 £70,001 . £80,000 £80,￿1 - £90,000 £90,¢N)I . £IOO,¢M>O £130,001- £140,000 £140.001 £15f).000 Durit)8 the year pen8ion contributtons on behalf of th¢8¢ staff amounted to £23.669 (2020.. £22.810). 6 PAYMENTS TO TRUSTEES No remunerhtion WAS paid to th¢ tru8te¢6 in the period (2020.. £nil). R¢imbur8ed expen8e8'(i.e. travel and 8l&tionery} amthmted to nil {2020.. £134). The number of r¢imbur8ed exp¢us¢8 wa8 nil (2020..11. 7 NET tNCOMEJ(EXPENDITURE) The rtet iftcomel(¢xpenditure) for the 8roup is stated after char8in8'. 2021 2020 Depreciition Operatin8 I￿￿e ¢￿t$- land and buildin8B other Auditor'B r¢mun¢ration- Statytory Audit- aur¢nt y¢ar Co4)orotion tax 42,241 223.317 6,415 29,500 42,250 227,533 10,829 27,430 6.648 Page 24

N A B S (A charitable company ]imit¢d by guaTantK) NOTES TO THE FINANCIAL STATEMENTS For the year ¢nd¢d 31 D¢cemb¢r 2021 8 TANGIBLE FL¥ED ASSETS - GROUP AND CHApJrY Office and Comput¢r rnfvrbi5hrnent ¢quipm¢nt ¢quipmellt Total Cost l January 2021 Addiiiort& 362.455 29.063 13,649 405.167 31 December2021 302.455 29,063 13,649 405.167 Depreciation l Janu&ry 2021 Choryed in th¢ p¢rlod 62.302 36,428 9,688 5.813 13.649 85.639 42.241 31 December 2021 98,730 15.501 13.649 127,880 Net book value 31 Decemb¢r 2021 263,725 13.562 277.287 31 December 2020 9 INVESTMENTS- aROUP AND CHARITY 2021 2020 LiJt¢d in the UK Unlisted (charity only) Pro8ramm¢ related inveBlments' 3,633,115 4,795,734 14,454 14.454 3,647,571 4,810,190 In￿￿1￿¢nIN Ilsted irt ihe UK Market VAlu¢ as at l January Disp08al of inve8tm¢ni duriog the year In￿me r¢.inve8ied Net gain oll inve8ttnellt8 4,795,734 (1,528,I IS) 14,980 350,516 4,661,911 {251,804) 27,312 358.315 Market Yalu• at 31 December 3,633.115 4,795.734 All the elMrity'8 li8ted inveBtrnents gre held in a single inve$tm¢nt 8ccoun¢. The market value of these investments aB &t 31 Dx¢mber 2021 ￿MpriseS.. 2021 2020 Listed UK Investments 3,633.115 4,795,734 Page25

N A B S (A charitable company limited by guarantee) NOTES TO THE F￿ANCIAL STATEMENTS For the year ended 31 Decernber 2021 Urtl&vied investhents NABS bolds more than 2(V/o of the equity of the following undertaking.. Subsidiary underthkins Clt7ss ofholding Proporlion held Nt7tHre ofbusinus NABS Trading Limited Ordinary iooy Fllndrai8rn8 evetsts Programme reloledinveslMen13 These represent principal and attrued intcrcstoth welfare loans made by the Gharity in furtherancc of its objectives. The rates of initrest prtviously chargeable on eoch lottn. where lovied, Varied but ran8ed 8enerally betweén 61A•/• and 8Y.. Inierest been waived 80 18 no longer being ¢harged on the8e loan8. Most loan& are ￿bY &char8e over the borrower's property. The loan8 hove no specific repAymeAt tern￿. Amounts brought forward from prior year Amounts rcpaid in the year 14,454 Amourtl8 cattied fonvard 14,454 10 DEBTORS Group 2021 GTOUP 2020 Charity 2021 Ch￿ty 2020 Amounts due from 8roup undertaking8 Ev¢nt d¢btor8 Other debtors Pr¢paymenlS #Ad A¢crued income 140,615 452,258 470,115 5,440 560,658 410,321 413,618 552,596 560,658 552,596 1,036.213 962,917 .153,531 966214 I I CREDITORS.. Amount8 fallit)8 du¢ within one year Group 2021 Group 2020 Chrity 2021 Chwity 2020 Bank loan- CBILS Amounts due to group und¢rtHkings Trad¢ ¢r¢ditorB Other tsxation & so¢i818Kurity Other creditor8 Corporoiion A¢¢tua15 and deferred in￿rne 1,100.000 I,iOO,¢M 173,351 51,795 57,779 5,772 27.015 65,344 5.512 521 360.889 51.923 54.078 5.772 11,951 528.616 20,￿5 65,344 5,512 ' 333.147 340,413 459,281 1.752,340 424,048 1,729,110 I￿luded othertsxation & s￿141 security 1$ all 4mowit of £13,551 (2020.. £11.953) in reSp￿t of outstanding pell$ion ¢ontributioJJs. Page 26

N A B S (A charitable company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021 Deferred itKome'. 2021 2020 Deferred income brought (orwArd Amounts deferred in the ycar Amounts released in the year 244.601 48,988 (244,601) 163.968 244,601 (163,968) Deferred income C&Tri¢d f¢)rwaTd 48,988 244.601 Deferred income relates to WACL (Wom•n in Adverttsin8 and CommunicationB, Lolldon) ffi￿d￿ {rai8ed ai their Chri8th)a8 Gala using NABS. PDQ tnachincs as apayment option) repaid in January 2022. Stranger than Summer bles. Ride Adland team8. NABS Golf teams. Fast Forward delegotes bill¢d in 2021 defe￿1 to 2022. Atso timeTo irailling in¢ome be4n deferY¢d A8 trAinLn8 Li not to take pl&ce until 2022. 12 RBSTRtCTED FUNDS NABS hold8 four fvndj, for ¢￿0￿[18¢m¢￿t of ex¢¢llen¢¢ in th¢ industy. which give awards for traininB. The fint is the Future Le&derB Fund, e5tablish¢d in 2005, with fvnding from WACL IWom¢n in Advertl8ing and Commutti¢Ation8. Ltsndtsrt). The purp08e of the fimd iB to provide vocationol tr8inin8 in the rnthetin8 and communication& industry. The Becond fvnd iB for AD aw&rd e8tabli$hed in the memory of David Pillon, who died ID 1996. David founded the Soho-based agency David Pilton Advertising {DPAI in I960. DPA and the agency's forn)er chaimiaA, John Dunromb¢, h8v¢ ¢hoJ¢n to d¢mat¢ a surn of Mon￿ to be used to 8UPPOrt and inspire people ift the first rive yekr5 of their communications ¢ar¢¢rB. The third fund is for an initiatlV¢ C411¢d timeTo ¢8tabli8hed in 2018. NABS has pfft¢r*l with WACL and the Adv¢rti5in8 As80¢iation IAA) in working tOW8rds ¢radicatinB. B¢xual hAra8gment in ibe advertisin8 Ind mllrketin8 Lndu&try. Page 27

N A B S (A ¢haTitabl¢ company limit￿ by gLwant¢c) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021 Futurc Ixadcrs Fund As at l. J&ttu&ry 2021 Received Expended 58,991 66,0(M) (38,025) As at 31 D¢c¢mber 2021 86,966 David Pilton Award As at l January 2021 Expended 9,856 AS at 31 December 2021 9.745 tim¢To donatiOII As at l Jartu￿ 2021 Received Expended 14.(kn) (14.000) As at 31 December 2021 Tot&l R¢gtri¢t¢d Funds 96,711 13 UNRESTRICTED FUNDS- DESIGNATED The ￿lld8 of the group And ch4rity include the following designAtioi)8 which h&ve be¢n set 88id¢ out of nwtricted ￿ndS for Jpecific pury)08e&. Age mlaled Peterhou8¢ Fuud Benefi¢iAry Fund Total Fund8 As at l January 2021 Expended 203,023 12.320 (10,0061 215,343 (10,¢KI6) A8 Bt 31 December 2021 203,023 2.314 205.137 The Peterhouge BenefLCiary fund is from Billie Dyson legw whose wishes w¢re for it to be used for the benefit of Peterhowe so will be used to benefit beneficiariu of NABS living It PeterhoU￿. The new Age r¢lat¢d ￿nd wa5 tt) us¢ part of th¢ moni¢5 from th¢ s?1¢ of Peterhouse to ￿ntInUe to do work orow?d the older it￿￿￿trY community. These plaths have been delayed and will b¢ deployed from 2022. 14a ANALYSIS OF MOVEM￿ BETWEEN FUNDS. GROUP Page28

N A B S (A charitable company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021 Unr¢stii¢ted Oener41 Fund8 2021 Unrestricted Rutricted D¢8ignAted Funds Fund8 2021 Tothl 2021 2021 At l jaM￿ry 2021 In¢om¢ Expendilure Reolisedlunrealised gain8 5,377271 2.413.571 {3.133.4691 350,516 215,343 68.847 5.661.461 80.0￿) 2.493,571 (52.136) (3.195.611) 350.516 (10.(K16) At 31 December2021 5,007,889 205,337 96.711 5.309.937 Unrestrirted Unre8tricled Re8tricted General De8igiiAl¢d Fund8 Fund8 Fund8 2020 2020 Total 2020 2020 Ai l January 2020 6.337.606 ,777.180 (3.095,830) 358,315 242,866 3,023 (30,546) 104,102 6,684,574 49,991 ,830,194 (85,246) (3,211,622) 358,315 Expenditure Reali8e(VuDreali8ed Bai At 31 Dec¢mber 2020 5.377.271 215.343 68,847 5,661.461 14b ANALYSIS OF MOVEMENT BETWEEN FUNDS - CHARITY Unre8tricted Getterol FUL 2021 Unre8triCted R¢4triet tsesi8nated FwLdJ Fund$ 2021 Tothl 2021 2021 A¢ l JanuAry 2021 S.359,115 2,167,435 (2.889.563) 350,516 215.343 68,847 5,643,305 80,QC#) 2,247.435 {10,006) (52.1361 (2.951,705) 350.516 Income Expellditure Reaiisedlunr¢Nli8ed 8Ains At 31 D￿u￿ber 2021 4,987.503 205,337 96.711 5,289.551 Page 29

N A B S (A charitable company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021 Ullre8triCted General Futhls 2020 Unre8tri¢ted Re8triCted Designated Funds Total 2020 2020 2020 At l January 2020 In¢om¢ Expenditure Reali8edlwweali8ed gaills 6.314.992 ,765,580 13,079,772) 358,315 242,866 3,023 {30,546) 104,102 6.661.960 49,991 1,818,594 (85,246) (3,195.564) 358.315 At 31 December 2020 5.359,115 215,343 68,847 5.643.305 14c ANALYSIS OF NET ASSETS BETWEEN FLTNDS Uwe8tiicted Unr¢8tri¢t Genero1 De6igll4ted Funds Funds 2021 2021 Restiicted Fund8 2021 Tot41 Funds 2021 CIROUP Fixed a86ets InveNlments Net current ass￿& 277,287 3,647,569 1,083,033 277.287 3.647,569 1,385,081 205,337 96,711 5,007,889 205,337 96,711 5,309.937 Fixed a8yetS Inv¢8ttnents Net cumt agsets 277,287 3,647,571 1.062,645 277,287 3.647.571 1,364,693 205,337 96.711 4,987,503 205,337 96,711 5,289,551 Unr¢stri¢ted Unrestricted O¢n¢r31 D¢si8nated Fwids Funds 2020 2020 R¢Btri¢t¢d Funds 2020 Total Funds 2020 GROUP Fixed a88ets Investments Net currcnt assets 319,528 4,810,190 247.553 319.528 4.810,190 531,743 215.343 68,847 5,377,271 215,343 68,847 5,661,461 Page 30

N A B S (A charitsble company limited by guaranke) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 Decernber 2021 Unrestsicted Unrestricted General De8igDatod Funds 2020 R¢stri¢ted Totsl Funds 2020 2020 2020 CHARJTY Fixed 4ssets Invc5tmcnt8 Nd eurrertt 88sets 319,528 4,810,190 229,397 319.528 4,810,190 SI3￿87 215,343 68,847 5,359.115 215,343 68,847 5,643,305 158 GROUP CASH FLOWS 2021 2020 Reeon¢lli8tion of net expendittw¢ to CA8h used in operatio N¢t (expeDditure) Adjustment8 for.. D¢pr¢¢iation on tsngible fixed asget8 Divid¢nd8 8nd inter¢51 receivoble Oain on inve8iment8 Tuxation 1351,524) (1,023.113) 42,241 (16.987) (350,516) 521 42.250 134.227) 1358.315) 11.951 Op¢ratin8 ￿&h flow befor¢ nwvements in workin8 Cllpital Decr¢aB¢l{in¢rease) in trnde and other debtor4 IDecr¢AS¢) An trade and oiber creditor& (676,265) (1,361,454) 173,2961 41,345 {181,102) 129,930) Ca8h used by ¢)perAtion8 (930,6631 (1,350,039) At I JRnuary At 31 December 2021 CAsh flow 2021 1Sb Analy8is of net ilmd& and ttet debt recotkciliation Cash at bank and in Iwhd CBILS IoaD 221,168 ,l(M>,000 586.981 {I,100,000) 808,149 Totsl 1,321,168 (513,019) 808,149 Page31

N A B S (A charitable company limited by guarante¢) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021 16a COMmrrM￿s UNDER OPERATfNG LEASES At 31 DK¢mber the ¢ot)¥any had commilments under non-cancellable operatiDg leases as follows.. 2021 2020 Land and buildings within one year two to fjvc yoa Other Thvo to five yéar8 223,317 446,633 218.938 446,998 6,981 669,950 672,917 16b OTHER FLrruRE COMMrrMEwrs P¥￿310￿ contrib￿110￿$ Thc charity makcs contributions to an individual's pcn8ion srhcmr, 5ubjerl to i m4XiTnum of 5Yq of the employee's annual salary. The assets of the scheme Are held aepArai¢ly from the asse18 of the charity. Contributions to the Bcheme are char8ed kn the Statement ofFirtinciAI Activiti￿ on An llcen]Als bASiS. Pen8iOn costs arnounted to £65,115 (2020- £63,680} and are included wiihin B￿Ary costs. W¢ would expe<t io pay £75,409 in 2022. 17 RELATED PARTY TRANSACTIONS Th¢ cbarity h85 8 wholly own¢d $ubsidiary. NABS Tr*ditsB Limlted. NABS Trading Limited tr8nsferrtd £167,756 ￿ NABS 86 B distribution (2020.. nil). A8 at the year-end, NABS Tradin8 Limited owed £167,756 {2020.' nil) to the Charity. AmountB owed to the charity were £140,61512020.. £173.3511, this being paymeAt9 r￿gI¥¢d being tronsf¢Tr¢d b¢twe¢n NABS Tradin8 Limit¢d and the Charity bank account8. NABS receive8 donations from Y￿lOuS Companies to support ils aclivilies. M B￿sh. C Rudd. S Da8lish. H Nicklin, N Jasinski, J Peppiatt, K8rlA Smith, Domini¢ Carter & J¢nnit¢r H¢ily w¢r¢ TnJ8l¢es of NABS and al80 connected to compani¢$ that hAv¢ mad¢ donations lo NABS in the year lotallin8 £491.794 (2020.. £285,789). The b&l&n¢ due from thes¢ wmpani¢s at th¢ year end wis £206,100 (2020.. nil). Page 32

N A B S (A charitable company limited by guarantee) NOTES TO THE F￿ANCIAL STATEMENTS For the year ended 31 December 2021 18 SUBSIDIARY UNDERTAKING A 8Utnrnary of the resu118 ofNABS Tyoding Limiied is 8bovm beli>w.' NABS Trading Limited {company no.. 03834446), 10 Hil]s Plo¢¢, London. WIF 7SD 2021 2020 Thrnover Other operating expcrtses 413,892 (243,385) 11,599 (66.900) Oper&ting profitl{10$8) 170.507 (55.301) Profitl(1ryg5) on ordinory activitie8 before taxation 170,507 (55.301) Taxaiion (521) (11.9511 Rdained profitl(loss) for the year Profit and 108s rnserye at l JAnuary Gift Aid distribution (p&id)Irepoid 169,986 18,154 (167,756) 167,2521 22,503 62,903 PTofLt Nnd losu r¢8¢rve at 31 Decemb¢r 20.384 18,154 The aggregate ofthe 888ets, liabilities And funds w8J'. Current ANsets Creditor8'. Amounts falling thie within one yezr 223,375 (202,989) 221,737 (203,581) Net 1sset8 20,386 18.156 Page33

N A B S (A clwitable cdmpany limited by guarantee) NOTES TO THE FINANCtAL STATEMENTS For the year ended 31 December 2021 19 TAXATION ON PROFIT FOR THE YEAR 2021 2020 Current t#x-UK eorporatiort tax 521 The tax Assessed fortbe period 19 equivalent to the standard etyedive rate of CO￿)ratiOn in the UK for the year ended 31 December 2021 of190/• (2020 '. 19/.) as shown ￿low.. 2021. 2020 Profivoots) on ordinw Aclivitie8 before tax 170,497 (55,411) ProfiV(105J) on ordinary aciiviti¢8 bcfore tai multip5ied by the staTLdatd rllte of cotporhtion tsx 8mall ¢omp&nies 19•/4 (2020 .. 19/.) 32.394 (10.528) Tax108ses not recognised al & deferred tax a88¢t 10.528 Taxation Oll repoid distribution 11.951 gift aid non tthxable (31,873) Curtent 521 11.951 No provi8ion hA8 been mAde for deferred thx as there were no capitsl allowance8 claimed i the y￿r or any timing differenee8. There Are no specific fa¢tor8 thii affect thwre tsx char8¢8. Th¢ thx ¢har8e arioe8 itt NABS TrAdin8 Limit￿. 20 F￿ANc￿ fNSTrUMENTS Group 2021 Clwity Charity 2021 2020 2020 The carrying amounts of fmancial in8ttum¢nts were a8 follow8.. Finart¢iil lls￿ts.. FitJan¢ial A88ets held at fairvafve 3.633.115 4,795.734 3.633.115 4,795,734 Pag¢ 34