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← The National Rheumatoid Arthritis Society

2023-12-31-accounts

Charity Registration No. 1134859ISC039721 Company Registration No. 07127101 IEngland and Wales) REPORT OF THE TRu>fEES AND AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR NATIONAL RHEUMATOID ARTHRITIS SOCIETY

NATIONAL RHEUMATOID ARTrfRIYIS SOCIETY LEGALAND ADMINISTRATIVE INFORMATION Trustees Mr R Bain5 Mr R A Boucher Mrs Collin5 Mr R Flowerdew Mr J Jordan Profe550r PTaylor Mrs A Woolf Miss C Ward CEO Mr5 Cjacklin Charity number 11348591 SC039721 Company number 07127101 Reg15tered office Sulte 3, Beechwood Grove Busines5 Park White Walthèm Maldenhead Berks SL6 3LW Audltors MO0￿ Kingston Smith LLP The Shlpping Bullding The Old Vlnyl Factory Blyth Road Hayes U83 IHA Bankers HSBC 35 High st￿et Maidenhead SL6 UQ

NATIONAL RHEUMAYOIDARTHRIT15 SOCIVY CONTENTS Tru5tees' report 1-13 Staternent of Trustees, resrx)nsibilities 12 Staternent asto disclosu￿ to our auditors 13 Independent audltors. report 14-17 Consolldated Ststement of finantial a£tivities 18 Company Statement of flnanclal activities 19 Consolidated and Company Balance Sheets 20 Consolldated Statement of Cash Flows 21 Note5 tothe accounts 22-36

NATIONAL RHEUMATOID ARTHRITIS SOCIE TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their report and audited consolidated account5 for the year ended 31 December 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" IFRS 102} in preparing the annual report and finaftcial statements of the Charity. The accounts have been prepared in accordance with the accounting policies set out in note I to the account5 and comply with the Charity's governing document, the Charities Act 2011, the Companies Act 2006 "A¢countin8 and Reportins by Charities.- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151." Chairfs Report It'5 really heartening to be able to report that 2023 was a ￿markable year in many ways for NRAS, as we successfully broke many of our own internal records for service delivery. We helped more people than ever before by providing information and support via our Helpline team, in addition to our online communiries includirsg Facebook, the Health Unlocked forum and online broadcasts. We also increased the number of publication5 distributed to health care professionals and individuals alike. with our Benefits and Fatigue booklets beinB the most requested this year. Seeking to reach and assist people in new ways, we continued to develop our online suite of self-management module5 (SMILE RAI and reached over 4.0(Xl registrants by the end of the year. A5 well as breaking records for the number of people we serve. we also reported one of our strongest set of financial results to date with record-breaking income of £1.87m. Reco8nising the very difficult fundraising situation, at the start of the year we had budgeted to record a deficit, planning to use our strong reserves position to enable us to continue to deliver services at existing levels despite anticipated funding reductions. In practice, l am pleased to report that the deficit in the year was turned around and we actually reported a net gain of over £400k, largely due to significantly higher than expected income from legacy bequest5. In common with nearly all charities. our experience is that fundraising across all other areas remains challenging and whilst we are always enormou51y grateful to all those who so generously leave bequests to NRAS. broadening and diversifying our income stream5 continues to be one of our most important objectives, both to grow funding in ab501ute terms and to increase its Stability arsd p￿diCtabIlity. Some key Suc￿sseS during 2023 include: - a highly successful nationwide survey gathering data on the impact of stress on rheumatoid rthritss symptoms. This Is now being used in the development of a new resource for patients called 'Stress Matters, - a substantial increase in our reach during RA Awareness Week via a 'fatt or fiction, quiz - an increase in engagement with monthly NRAS broadcasts on an array of tOPiCS With prestigious guest speakers and panel members - further development of resources for UK South Asians living with RA Piloting the JIA Right stsrt programme

NATIONAL RHEUMATOID ARTHRITIS 50CIEri TRUSTEES. REPORT (INCLUDING DIRE￿oRs, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 After such a successful year on so many counts. it is therefore with sadness that I have to report that in December our CEO. Clare Jacklin, indicated her intention to step down as Chief Executive in 2024 after 5 years at the helm and a total of 17 years with NRAS. We owe a huge debt of gratitude to Clare who took over running the charity in summerof 2019. just ahead of the global COVID pandemic which hit us in early 2020. Clare successfully led the charity through those turbulent pandemic years and implemented many changes to the organi5ation to meet the evolving needs of our beneficiaries. It is beholden upon me to say on behalf of all the Trustees, Advisors. colleagues and Members. a massivè thank you to Clare for her dedication and inEpirinE leadership before she leaves us in July 2024. Clare will be replaced as CEO by Peter Foxton who joins us after a successful career at Phyllis Tuckwell Hospice Care where he was Director of Income Generatlon. Finally, it goes without saying that none of the g￿at achievements I have described above would be Possible without the tremendous efft)rts of our colleagues and volunteers, together with the generosity of our funders. We are fortunate indeed to be able to rely on the efforts and skills of our committed team and I would like to tske this Opportunity to thank you all on behalf of the Board. Simon Collins Chair of Trustees

NATIONAL RHEUMATOID ARTHRITIS socIErY TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORTI FOR THE YEAR ENDED 31 DECEMBER 2023 Our purpose and activities Guidance from the Charity Commission has been used to review and develop NRAS'5 aims and objectives so that activities are clearly focused to derive good public benefit. ObJettive5 and activities The objects of the Charity Ithe "Objects") are for the public benefit to promote the relief of people living With Rheumatoid Arthritis IRAI and Juvenile Idiopathic Arthritis IJIAI by: Raising awareness and understanding of RA and JIA, including awareness of the severity of the diseases and their social and economic costs- Providing information on RA and JIA, including information on their treatments and drugs available: Advancing all aspects of the care and treatment of RA and JIA and the management of these diseases in their totality; Providing education on the diseases generally and to individua15 and their families and carers in all aspects of RA and JIA, including their treatment and management, and providing information about available SUPFK)rt,' Supporting individuals in relation to RA and JIA and their families and carers, including putting people in touch with each other to encourage self-help and support where appropriate. Workin8 alongside NHS rheumatology health professionals to provide the best care for patients a5 well as support the clinical staff in their role5. Our vlslon and mlsslon Our vision is life without limits for all those with RA and JIA. Our mission is to enable the RA and JIA community to thrive by providing access to 5UPPOrt, expert knowledge, engagement, campaigningi and research, all of which is informed by those living with these complex, and currently incurable. auto-immune diseases. Underpinning all of these mission goals is our commitment to- Improving the equality and equity of access to the best care across the UK: Providing and promotin8 the best SUPPOrted self-management resources for those Ilving with RA and JIA- Harne55ing digital 501utions to meet the changing requirements of the individual and the NHS,. Analysing the impact of our services to better inform our future plans: Ensuring the sustainability of the charity and its services by investigating opportunitles for longer term engagement with funders and paid-for NRAS services,. Investing in the continuous development of NRAS colleagues, Volunteers, Ambassadors and Trustees ensuring we maintain the highest level of expertise and knowledge to support our beneficiaries and govern the organisation.

NATIONAL RHEUMATOID ARTHRITIS SOCIETY TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Our principal activities We are committed to providing 5UPPOrt, evidenced-based information, services, education, campaigning and patient advocacy of the highest quality to, and on behalf of all, those affected by RA and JIA as well as their families. We also support health professiona15 in the field of rheumatology and primary care through provision of free health professional membership of NRAS and free patient IEfeiidl prLTr¥f*atnme and Informatlon 50 that we can help them to help thelr patlents. Our front-line seNices include: A Helpline which operates 30 hour5 per week and is managed by a team of four colleagues,. An online peersupport community; Local and virtual groups,. A peer-to-peer telephone support programme,. A supported self-management modular e-learnin8 pro8ramme,' Information booklets,. Websites packed with information and downloadable resources,. Patient events Iboth in person and virtually) A membership scheme LNing with RA and JIA is not just about having physical and medical needs. These incurable diseases have a huge impact on emotional wellbeing and quality of life on both the individual and their familv. We will continue to strive to help people by supporting all their needs in a holistic way whether physical, medical, emotional, mental, social, economic and/or employment related needs as well as those relating to acce5S to benefits. We are at the table at a national level whenever standards and guidelines, RA/JIA pathways and access to treatment are being discussed. We conduct our own social research and publish key reports on a topic of importance to people with RA/JIA periodically. Translational scientific and medical research has revolutionised the field of auto-immune conditions such as RA and JIA in the last few decades and whilst we do not fund medical research ourselves, we do 5UPPOrt a growing number of academic and clinical research studies throughout the UK on an ongoing basis. We also support recruitment to clinical studies and provide expert volunteers to advise on issues of Patient and Public Involvement. We do on occasion conduct our own funded major social research studies often in partnership with an academic institute. In 2023. IEXAMPLEI. In 2023, we continued the development of our suite of e-learning self-management programmes, devised and produced by our founder and now National Patient Champion, Ailsa Bosworth MBE. We now have a total of seven modules freely available for anyone to access on our website and work will soon start on our largest and most complex module to date, Cardiovascular Disease Risk Management. In 2024 we plan a strong campaign to encourage even more health professionals to utilise the SMILE modules for patient education by signposting people living with RA to register for the programme. We also launched a new service in 2023 which aims to support families with a child diagnosed with juvenile idiopathic arthritis IJIAI. This new seNice is modelled on our service for rheumatoid arthritis, New2RA Right Start. and is called New2JlA Right Start

NATIONAL RHEUMATOID ARTHRITIS SOCIErY TRUSTEES, REPORT (INCLUDING DIRE￿oRs, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Achievements, performance and flnanclal review Net income increosedfrom £1.65m to £1.87m HOW WE RAISED OUR MONEY 2022 w 2023 lJGI.Jk E?10. J< k 134.7k DONATIONS AND GIFTS LEGACIES CHJIRITABLE ACTIVITIES OTHER TRADING ACTIVTIES INVE5TMFNT INCOME The Charity increased overall income by 13% in 2023 to £1.87m making this the Charivs most successful income generation year on record. This performance was dominated by legacy bequests where reported Ènr.nmp rpached £l.04m, up 35% on 2022. Legacy intome represented over 56% of the Charity's total income in 2023 and we remain immensely grateful to our very generous benefactors whose 8ifts enable us to continue to deliver our much-needed services and which will also provide funds to enable us to invest in enhancement5 to those services and new innovations especially as we enter a health environment more focu55ed on delivering Se￿iceS digitallv. Income from donations and gifts was largely unchanged overall from 2022 delivering £561.5k of income, a commendable achievement given the continued pressure5 on traditional fundraising streams being felt across the sector. These figures also include funds received from pharmaceutical companies who manufacture and market medicines for RA andlor JIA. This income amounted to £92.4k in 202312022-. £166.3kl. As well as helpin8 to fund the core setvices that we deliver to our beneficiaries, these relationships provide NRAS with access to important information about clinical trial data and help to inform and educate our team members on RA and JIA. NRAS is now perceived by most pharmaceutical companies working in the area of immunology and rheumatology as a key expert partner in contributing to advisory boards and employee training, as well as providing 5UPPOrt in the development of their own patient-facing support resource5. The Charity also operates a variety of membership schemes for those living with RA or JIA, their families and health care professiona15. These schemes provide access to a members, forum, monthly newsletters and a bi-annual magazine full of interesting articles and information. Income from the membership schemes totalled É85.4k in 20231£2022: £83.Ikl.

NATIONAL RHEUMATOID ARTHRITIS SOCIETY TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Support for NRA5 was also weieived through grant5 from trusts and foundations and In 2023 this amounted to £72.6k12022'. £137.Okl. We would like to express particular thanks to the following organi5ations who all donated £2.000 or over each.- National Communities Lottg.rip.% Fijnd, Thp Childwick Trust, The February Foundation, The John Coates Charitable Trust, Stancourt-Dicker Charitable Trust, Vandervell Foundation, The William and Mabel Morris Charitable Trust, The Joseph Strong Frazer Foundation, The Charles Littlewood Hill Trust and D'oyly Carte Charitable Trust. A growing area of income generation for the Charitv is in the field of social rèsearch where we work with academic partners, pharmaceutical companies or other organisations to help develop and deliver new services to best meet the needs of all those we Serve as well as campaign to effect change with government, the NHS and those who commi55ion health and social care services. In 2023 income generated from research activities totalled £29.2k12022'. £8.3kl. All income received through fundraising in 2023 contributed to enabling the Charity to provide a full programme of resources, activities and support, which benefits those living with RA and JIA in the UK, their farnilies, schools and the healthcare profe55ionals who care for them. NRAS would like to acknowledge and thank all the individuals, companies, trusts and foundations that have supported our work this year. Total expendlture decreasedfrom £1.79m to £1.53m HOW WE SPENT OUR MONEY 2022 w 2023 INFORMA TION & SUPPORT RA5SING AWARENESS COMMUNITY SUPPORT SUPPORTINS YOUNGER PEOPLE INNOVATIONS Overall expenditure reduced by 14.7% cotnpared with the prlor year, thanks partly to the successful office relocation undertaken in late 2022 as a result of which annualised office-related costs reduced by nearly 40%. Employee numbers remalned largely unchanged with the full time equivalent team numbers down from 27 in 2022 to 26 in 2023. Thi5 helped keep overall employment Costs growth down to just 1.4% in 2023.

NATIONAL RHEUMATOID ARTHRITIS SOCIETY TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 DECEMBER 2023 The Charity reported a 8ain on its investment portfolio of over 7%, equivalent to £65.8k. The Charity reported a consolidated net surplus of £403.9k in 2023, compared with a net deficit of £288.6k in 2022. The Charity's wholly owned trading 5ub5idiary, NRAS Community Services Limited, was largelv dormant in 2023. The company delivered a small10ss of £O.Ik on its activitie5. Balance sheetshow5 net assets of £2.Om Net assets in the year increased by £403.9k reflecting- Gains on revaluation of investments of £65.8k An increase of £358.5k on cash at bank A Small decrease of £20.4k on fixed assets and other current assets. ReseTh￿s policy Unrestricted reserves totalled É1,997.4k ot the end olthe yet7r. The Charity continues to set aside designated reserves to support the continued delivery of its core services for the upcoming twelve months and a150 to cover potential inve5tment105ses. These designated funds in aggregate amounted to £600k as at 31 December 2023. The Charity also continues to hold a minimum of six months, operating costs in cash and investments. Investments and cash balances as at 31 Dg.rpmbp.r 2024 wp.rp. valtjpd in aggrpgxtp at £1,676k eivinB rise to an operatin8 Cost coverage of 13.15. Free re5erve5 85 dl 31 D¥Leriiber 2023 w¥re E624.7k12022- £473.4kl. Free reserves are defined a5 unrestricted funds which have not been earmarked and may be used generally to further the charity's objectives. HOW OUR UNRESTRICTED RESERVES ARE ALLOCATED 2,500,000 2,000,000 632,471 1.500.000 473,360 t£ 1,000,000 764,879 895,727 500,000 2022 2023 De5igiidted fund5 6 month5 operating co515 Sui-plus free reserves

NATIONAL RHEUMATOID ARTHRITIS SOCIETY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 DECEMBER 2023 We will work hard to ensure that our fund5 are used judiciously so that we return the biggest benefit to our beneficiaries for each pound invested. We will continue the expansion of our supported self- management suite of modules and broaden our digital offerings as well invest in campaigns to raise awareness of RA and JIA. Going concern The churity contlntse5 to preporefinoncialstatements on the basis thot ITt is a going concern. Our healthy cash balance and investment portfolio means that we have sufficient liquidity to ensure that we can meet our future obligation5 as they become due for the foreseeable future. Fundraising prattices The charity complies with the regulatory standards for fundraising. We are registered with the Fundraising Regulator and are committed to the Fundraising Promise and adherence to the Code of Fundraising Practice. This report covers the requirements charities must follow as set out in the Charitie5 Act 2011 and the Charities Social and Protection Act 2016. Our fundraising effort involves encouraging donations through a variety of events. applying for funds from grant-making bodies and operating a weekly lottery. Our fundraising team comprises paid employees only and we do not use the services of any professional fundraisers. All direct marketin8 is undertaken by the fundraising department to ensure that it is not unreasonably intrusive nor persistent. All markctins material contains clear in5truction5 011 Iluw la person can be removed from mailing lists. We operate our lottery compliantly under licence from our local authority and all administration is handled by a certified External Lottery Manager with the Gambling Commission. Our website outlines our complaints policy for the public and clearly explains how an individual can complain. We received no complaints this year in relation to fundraising artivities. We have published our vulnerable persons policy on our website. In addition to our policy we have an agreed operating procedure to protect vulnerable people. Our fundraisers, who are all paid employees, are familiarised with the code of conduct to ensure that it is applied properlv. Investment Policy and Objectives Longer-tem a55ets are invested with the aim of at least maintaining the real value of capital li.e. against inflation) within an appropriate risk profile. The ChariVs investment objertives are to invest for the long-term (five years plusl in a diversified portfolio ensuring that there is sufficient liquidity available to fund any shortfalls or unfunded commitments. Investments are managed by external professional fund managers as permitted by the relevant acts and the charity commission guidelines. The Charity aims to be a responsible investor and its professional fund manager5 are expected to take account of Environmental, Social and Governan IESGI issuetr in their investment analysis and deci5ion-Inakiii8 PIULES) 6nd to engage wlth Irusiee5 when appropriate, including the provision of periodic reports covering ESG issues. Investment performance reports are received quarterly from the fund managers and the Trustee5 review performance annually with the fund manager5.

NATIONAL RHEUMATOID ARTHRITIS SOCIETY TRUSTEES. REPORT {INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Future plans The Trustees approve and adopt Strategic plans for the Charity every three years and detailed budgets are prepared annually to support these initiatives and demonstrate how the objectives will be delivered within the constraints of predicted funding available. The budget is reviewed on a quarterly basis arid appropriate management decisions are taken in light of any material forecast variances. The Cliarlty Ts wiuw in the ftnal year of Its current srrategic plan which set out how the Charity would continue to support and stand shoulder-to-shoulder with the entire rheumatology community working towards our vision of life without limits for all living with RA and JIA. Work is already underway to construct an ambitious plan to take the Charity forward over the next three year5 and to identify how best we can serve our communitie5 in ever more challenging times for the health sector as a whole. We expect to continue to work collaborattvely to remove barriers to being able to access the right treatment, at the right time in the right place, provided by the right professional. We will continue to work to reduce discrimination within the workplace and the wider society towards people with inflammatory arthritis. We will also champion the best evidence-based healthcare provision no matter where in the UK someone lives and we will support all those who work within the health service to provide the best holistic care without being hampered by a system with prevents them from achieving this. Strurtur•.. gov•rnance and mana8•m•nt Governing docurnent The Charity is controlled by its governing documents. the memorandum and articles, and constitutes a limited by guarantee company as defined by the Companies Art 2006. The Charity is a company limited by guarantee and does not have any share capital. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 each in the event of a winding up. Trustees The Trustees, who are also the director5 for the purpose of company law, and who served during the year and to the date of approval of these accounts were.. Mr R Bains (appointed 22 September 20231 Mr RA Boucher Mr S Collins Ichairl Ms L Cook (resigned 13 June 20231 Mr R Flowerdew Mr D Holloway (appointed 22 September 2023 and resigned 4 January 20241 Mr J D Jordan ITreasurerl Ms E Potter (resigned 5 December 20231 Professor P Taylor Miss C Ward lappointed 23 June 20231 Ms S Webb Iresigned 5 December 20231 Mrs A Woolf

NATIONAL RHEUMATOID ARTHRIT15 SOCIETY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 DECEMBER 2023 As set out in the articles las amended in June 20191, Trustees are required to retire after three years in office. A retiring trustee shall be eligible for re-election. Mr J D Jordan will therefore retire from office at the AGM on 18, June 2024 and will seek re-election. Trustee inductlon and training New Trustees are briefed on their legal obligations under Charity law, the content of the constitution and decision-making prnrgE%, the hiJsing<% plan and recent financial performance of the Charity. As part of the proce55 they meet key employees and other Trustees and may attend additional. relevant external training as required. Organisation The body of Trustees consists of not fewer than four and no more than twenty trustees and administers the Charity through the Senior Executives. Related parties and co-operation with other organisations None of our trustees receives remuneration or other benefit from their work with the charity. Any connection between a trustee or senior manager of the charity with a supplier or other party with which the Charity transact5 must be disclosed to the full board of trustees. In the current year no such related party transactions were reported. Pay policy for senior staff Remuneration for key management personnel is benchmarked against the voluntary sector and is set by the Trustees. The pay of senior staff is reviewed annually and normalty increased in accordance with average earnings. 10

NATIONAL RHEUMATOID ARTHRITIS SOCIETY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 DECEMBER 2023 Rlsk management The trustees have a risk managementstrategy Intludffng qf0rn7al risk evaluation whffch is carried out each yeor. Risk Category Financial performance and resilience Significant reduction in income streams and cashflow due to economic climate could affect the future viability of the Charity Mitigation and Actlons Fundraising strategy focusing on provision of regular, predictable, unrestricted income streams Annual budget setting proce55 and quarterly reviews with focus on cash flows and financing of operational plans Monthly management account5 detailing key performance indicators and reserves coverage Protecting the Charity's assets Market fluctuations caused by economic instability could negatively impact our investment portfolio and reduce the financlal assets available to the Charity. Investment policy is set so as to maintain an appropriate and prudent risk strategy Investment5 are managed by qualified external advisers Maintaining a stable team Competitive recruitment markets resulting in high levels of vacancies could impact our ability to deliver our full range of core services and lead to over-reliance on key members of the team Regular benchmarking of remuneration packages to ensure competitive within the charity sector Continue to prioritise stsff wellbeing to maximise retention Work continues on succession planning IT Security Failure to ensure Integrity and security of data ould lead to data loss or theft, potentially resulting in fines, reputational damage and impact delivery of our core services Data integrity and governance including GDPR Failure to meet our regulatory obligations could lead to fines, reputational damage and impact delivery of our core services Attractlng and retaining Trustees Failure to attract trustees with a range of skills could affect the future viability of the Charity Engagement of third party IT consultants to manage our IT system5 and controls Appointment of third party data protection specialists to identify and monitor risks and ensure compliance with regulations Continue to work with our network of partners and colleagues to identify suitable candidates

NATIONAL RHEUMATOID ARTHRITIS SOCIETY TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Auditors In accordance with the company's articles. a resolution proposing that Moore Kingston Smith LLP be re-appointed as auditor of the company will be put at a General Meeting. Tru5tees' responsibilities In relatlon to the financial statements The Trustees, who are also the directors of National Rheumatoid Arthritis Society for the purpose of company law, are responsible for preparing the Trustees, Report and the account5 in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practicel. Company law requires the Trustee5 to prepare accounts for each financial year whieh give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, includin8 the income and expenditure of the charitable company for that year. In preparing these accounts the Trustees are required to.. Select suitable accounting policies and then apply them consi5tently,' Observe the methods and principles in the Charities SORP IFRS 1021- Make judgments and estimates that are reasonable and prudent: State whether applicable UK Accounting Standards have been followed, subjett to any material departures disclosed and explained in the financial statements- and Prepare the account5 on the going concern basi5 unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts Iscotlandl Regulations 2(X)6. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. l2

NATIONAL RHEUMATOID ARTHRITIS SOCIETY TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORTI FOR THE YEAR ENDED 31 DECEMBER 2023 Statement as to disclosure to our auditors In so far as the trustees are aware at the time of approving our Trustee5' annual report: There is no relevant information, being information needed by the auditor in connection with preparing their report, of which the group's auditor is unaware, and The trustees, having made enquiries of fellow trustees and the group's auditor that they ought to have individually taken, have each taken all steps that he/ she is obliged to take as trustee, in order to make themselves aware of any relevant audit inforniation and to establish that the auditor is aware of that information. The trustees are responsible for the maintenance and integrity of the corporate and financlal information included on the tharitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. S Collins Chalr of Trustees J Jordan Treasurer/ Trustee 18 June 2024

NATIONAL RHEUMATOID ARTHRITIS SOCIETY

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF NATIONAL RHEUMATOID ARTHRITIS SOCIETY FOR THE YEAR ENDED 31 DECEMBER 2023

Opinion

We have audited the financial statements of National Rheumatoid Arthritis Society (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 December 2023 which comprise the Consolidated Statement of Financial Activities, (including the Consolidated Summary Income and Expenditure Account), the Group and Parent Charitable Company Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained in the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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NATIONAL RHEUMATOID ARTHRITIS SOCIETY

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF NATIONAL RHEUMATOID ARTHRITIS SOCIETY FOR THE YEAR ENDED 31 DECEMBER 2023

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Charities Act 2011 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s Responsibilities for the audit of the financial statements

We have been appointed as auditor under Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005, the Companies Act 2006 and Section 151 of the Charities Act 2011 and report to you in accordance with regulations made under those Acts.

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NATIONAL RHEUMATOID ARTHRITIS SOCIETY

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF NATIONAL RHEUMATOID ARTHRITIS SOCIETY FOR THE YEAR ENDED 31 DECEMBER 2023

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

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence

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NATIONAL RHEUMATOID ARTHRITIS SOCIETY INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF NATIONAL RHEUMATOID ARTHRITIS SOCIETY FOR THE YEAR ENDED 31 DECEMBER 2023

regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006; and to the charity’s trustees, as a body, in accordance with Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005, and in respect of the consolidated financial statements, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters which we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company, the charitable company’s members, as a body, and the charity’s trustees, as a body for our audit work, for this report, or for the opinion we have formed.

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Luke Holt (Senior Statutory Auditor)

Date: 26 June 2024

for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

The Shipping Building The Old Vinyl Factory Blyth Road Hayes, London UB3 1HA

Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006.

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NATIONAL RHEUMATOIDARfHRIT1550CIETY CONSOLIDATED STATEMENT OF FINANCIAL AcnviriES Ilnclurfing Income and Expenditure Accountl FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrfued Restritted Total U#restrfrted Restrirted Tot31 fund5 2023 lun 2023 lunds 2023 nds 2022 funds 2022 funds 2022 Notes £'Of•J £'LY)O Donations and legacies Charltable actSvltles Other tradTng attDiities Investment income 1,601.9 162.2 20.5 1,601.9 210.9 20.5 34.7 1.334.4 202.9 25.7 28.6 1,334.4 258.4 25.7 28.6 48.7 55.5 Total inrnrne 1,819.3 1,86&0 I￿91.6 55.5 1,647.1 endlture on.. Raisin8 funds 348.0 348.0 382.0 382.0 Charftèble a￿￿t￿e$ 1.132.3 49.6 1,181.9 1,303.5 108.6 1.412.1 Total resourtes expended 1.480.3 49.6 1,529.9 1,685.5 108.6 1.794.1 Net incomellexpenditurel before investments 339.0 10.91 338.1 193.91 153.11 1147.01 Net 8ainsllk)55esl on Investments 12 65.8 1141.61 1141.61 Gr055 transfers between lunds Net movement in lunds 10.91 401.9 1235.51 153.11 1288.61 Fund balances at l January 2023 Transfer between funds l594.1 19.4 1.613.5 L871.2 141.61 30.9 41.6 1,902.1 Fund balances at31 December2023 L997.4 20.0 2A117A L594.1 19.4 1,613 The ststement offinancial actlvltSes Includes all galns and losses recogn15ed In the year. All Income and expendlture derlve from contlnuing attivitles. The ststementof financial activities also complles wlth the requirements for an income and expenditure account underthe Companies Act 2QO6. The notes at Pa8es 22 to 36 form part olthese accounts. 18

NATIONAL RHEUMATOID ARTHRITIS SOCIETY COMPANY STATEMENT OF FINANCIAL ACTIVTrIES Ilncludln6 Income and EKpendlture Account) FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted Restrirted Totsl Unrestricted Restrfrted Totsi fund5 2023 funds lunds IOl3 funds 20Z2 funds 2021 funds 102Z Flotes £y>oo £'LxJo £'ooo Income from.. Donations and le￿cleS hartsble activities Other trodin6 ry¢livitie3 Irwestment income L￿1.9 162.2 1,601.9 210.9 1,339.2 202.9 L339.2 258.4 48.7 55.5 34.7 34.7 28.6 28.6 Totsl Income 1,819.3 48.7 1.868.0 1.596.4 55.5 1,651.9 enditure or+.. Raisin8fvnds 348.0 348.0 38Z.O 382.0 Charitable artimtles 1,131.2 49.6 1,181.8 1.3Tr).9 108.6 L409.5 Total resourtes expended 1.480.2 49.6 1.529 1.682.9 108.6 1,791.5 Net incorne/lexpenditurel before Snvestments 339.1 10.91 338.2 186.51 1139.61 Net galns/l1055esl on In￿stMentS 1141.61 oo 1141.61 Gross tran5fer5 between fund5 0.0 0.0 0.0 NRt movefflentln funds 404.9 0.91 404.0 1228.11 151.11 1281.21 Fund balances at l January Transfer between funds 1.596.7 19.4 1,616.1 1,866.4 141.61 30.9 41.6 1.897.3 Fund balance5 at 31 December 10.0 2,020.1 1,596.7 19.4 1,616.1 The statement of flnanclal attivities in£lude5 all 8ain5 and Ios5e5 recogn15ed In the year. All incon* and expendfture derfve from continuin8 activities. The statement of financial atti¥Trlles also cofflplies with the requirements foran income and expenditure aCCOurt under the Companies Ad 2006. The note5 at Pa8È$ 22 to 36 form part of theseaccounts. 19

NATIONAL RHEUMATOID ARTHRITIS SOCIETY CONSOLIDATED AND CHARITY BALANCE SHEETS FOR THE YEAR ENDED 31 DECEMBER 2023 Group Charlty 2023 £'ooo 2OZ2 £'th)o 2023 E'ooo 20ZZ £'ooo Note5 Fixed a55ets Intangible assets Tangible assets Investment5 13 13 14 26.0 36.9 1,008.5 59.6 51.0 912.5 26.0 36.9 1,008.5 59.6 51.0 912.5 1,071A 1.023.1 1,071A 1,023.1 Cvrrent assets Debtors Cash at bank and in hand 16 403.8 667.4 397.7 308.9 409.0 402.9 304.3 1.071.2 706.6 1.073.4 707.2 Creditors= amounts falllng due wlthin one year 17 1125.21 1116.21 1124.71 1114.21 Ntt ¢urrent assets 946.0 590.4 948.7 593.0 Totsl asset5 les5 current Ilabillties 2.017.4 1,613.5 2,020.1 1,616.1 Incomefunds Unrestricted funds Restritted funds 19 19 1.997.4 20.0 1,594.1 19.4 2,000.1 20.0 1,596.7 19.4 2.017.4 1,613.5 2,020.1 1,616.1 The Tru5tee5 have prepared group accounts in accordance wi(h sertion 398 of the Companles Act 2006 and sectlon 138 of the Charities Act 2011 and constltute the annual accounts requlred by the Companles Art 2006 and are forclrculatlon to trustee5 of the companv. These accounts are p￿pared in accordan￿ with the special provi5ion5 of Part 15 of the CompaniesAct 2006 and are for circulation to the members of the cornpanv. The notes at pages 22 to 36 fom part ofthese accounts. The accounts were approved bythe Board ofTrustees on 18 June 2024 J Jordan Irea5urtrlirustee 20

NATIONAL RHEUMATOID ARTHRITIS SOCIETY CONSOLIDATED STATEMENTOF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 Group Charlty 2023 £'ooo 2022 2023 £'ooo 2022 Notès Cash flows from operating actlvlties Cash used in operations 25 358.0 178.51 359.6 173.91 Investlng artivltles Purchase of intangible fixed assets Purchase of tan8ible fixed assets Purchase of investments Interest Teceived Gift aid donation from subsidlary 14.01 130.21 34.7 142.21 128.51 28.6 14.01 130.21 142.21 128.51 28.6 Net cash used in investln8 actlvitie5 142.11 137.31 Net dècrèase In Cash and cash equivalents 358.5 1120.61 360.1 1111.21 Cash and cash equivalents at beginning of year 308.9 429.5 415.5 Cash and cash equlvalents ai vf year 007.4 308.9 304.3 21

NATIONAL RHEUMATOID ARTHRITIS SOCIErY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DE¢EMBER 2023 1 A¢¢ounling policies Charity infomiatitsn National Rheumatoid Arthritis So¢￿ty i8 a prniale company limited by guarantee incorporated in England and Wales and Scoland. Th8 registered office 1$ Suite 3, Beechwood, Grove Busirtss5 Palk. White WaNham, Bothshire. SL6 3LW 1.1 A¢countlng convention Th•s• #ettwnts hav• pr•pr•d ID ¥¢¢ordanto th# gO￿rnIng doeumoril. thu Compani99 Act ?.onR th Charities and Trustee Investment Iscotlandl Act 2005, the Charities Accounts Iscollandl Regulations 2006 las 8mendedl and 'Accounting and R8POrting by Charities.. Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Finan￿al Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021" The charity ks a Publi¢ Benefit Enlily as defined by FRS 102. The accounts are Prepa￿ in sterling, which is the funcbonal currency of tha Charity. Mon•tary amounts in these financkql ststernen15 are rounded to the nearest £'OOO. The acLy)unts have been p￿pared undèr the historical cnst convention, modrfied lo include the rgvalu8tyon of freehakl propEities and to indude listed inveslrnen15 and certain finanaal instruments al fair value. The prinripal accounting policies adopted a￿ set out b910w. Pr•paraUon of ¢on$olidai•d finan¢lal $latements These consolidated financk81 slaternenls incorporate the finan￿al state￿ents of the Charity and its subshykqry und8rtaking, NPAS Community Service5 Limited, made up to 31 oe￿mber 2023 Intercompany Iransaclions, balances and unrealised gains on transactrons between the Chanty and its Subsidiary a￿ eliminated. A¢¢ounting poliaes of subsidiary undertakings have been Changed where necessary to ensur& Consistency with the policies adopted by the Group. The income of the tiading Subsidiary is iiitslud¥d 41 ili¥ CuiiiulKltiL¥d Sidi¥iii¥iil vf FiTI(Ili￿￿l Athwi￿¥0 wiiliiii vUi¥i I1￿illY ¥¥bvi1￿. EApeiidiiuie i& illGludEd in sUPPOrt costs. 1.2 Going concern At the lirne of approving the account5, the TN5tee5 have a reasonable expe¢tatr"on that Ihe charity has adequate resources to continue in operational existence for the foreseeable future and at least for12 months frem approval of the58 accoun15. This expe¢latK)n is based on the strong Investments and ¢8sh position, r8fl8cting a signifi'cant arnounl of unrestricted funds and the financi21 perfomance of the Charty. Thus the Trustees continue lo adopt the going con￿r￿ basi5 01 accounting in p￿parIng the acwunts. 1.3 Charitable funds Unrestricted funds are available for use at Ihe disciebon of the Trustee5 in furtherance of theTr charitable obtse¢llves. R¢str￿led fund5 are funds which are to b8 U58d in aeccrdance spècific rostrkllons imposed by donors orwhich have been raised by the charity for particular pu￿ose5. The cost ol raising and admini8tering such funds are charged against the spec￿1¢ fund. The aim and use ol each ￿$trICted fund is set out in the notes to the financial stat8m8nl5. 1.4 Incoming resources Incorne 15 recognised when the charty is entiued to il after any perf0mlan￿ condib'ens have been meL the amounts can be tneasured ￿lIablY. and rt LS probable that income will be received. Cash donations a￿ recognised on ￿CeIpt Other donation5 are recognised cnce the charity has been notif￿￿ of Ihe donatr￿, unless performance condit￿n8 require deferral of the arncunt. Income tsx recoverable in ￿lation lo dona'ans re￿ived under GIftA￿ or deeds of covenant is recognised at the time of the donation. 22

NATIONAL RHEUMATOID ARTHRITIS SOCIETY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 310ECEM8ER 2023 l Aecountlng ptslicies Icontlnuedl Legacrea are recognised on re￿ipt or otherwise rf the charity has been notified of an impending distribution, the amount 15 known, and receipt is probab￿. If tho amount is not known, the kgacy is treated a5 a contingent asset. charity re￿iVeS grants in respect of charilabfe actniibes wn by the charity. Income from grants are r6cogni5ed al fair valu8 when the ¢harity has 8nlitlemenl after any perfornian￿ ¢wditr'ons have been met. It ks probable that the income wll be received and the amount can be measured relKgbly. Income tram trading acbvi118s Includes income eamed Irom fundraising events and trading activilies to rai8e funds for the tharity. In¢orne is received in exchange for supplying goods and services in order lo raise funds and is recegnis8d when 8nlillement has oc¢urred. Subscription incorne is recognised on a rolkng basis frorn Ihe date of mernbership. Income is measured at the fair value of the consideration received or receivable and represents amounts ￿￿Nable for se￿l¢e$ provKled in the normal course ol business. n8t of discounts, VAT and olher sales related taxe8. 1.6 R•source$ gxpended All ex￿nditure is ac¢ountsd for on an accwals basis and has been classffied under hèadiNJs th8t 8ggreg8tè all eosts ralat8d to the Gategory. Expenditure is recogni$ed where there is a legal or con$tructs"ve obligath.on to make payrnenls to third partie5. 1115 probable that the 58t118m8nlwll be wuired and th8 amount of the obligation can be measured reliabty. It is calegoriqeé under the folbwing headSngs'. Costs of raisin9 funds indude5 cos15 related to fundraising events, rnerchandisin9 and ￿VertiSIng., Expenditura on charitsble a¢tNitses indwles staff ¢o$ts and support costs relalng to different projects coThJu¢ted during th• year (see note 8}. Irrecoverable VAT i% char9ed as an expense against the a¢bvityforNvhich eXpenrfrtu￿ arose. Support ¢o$ts allocation Support C051s include both direct expenditu￿ incurred on charitable aclivittes and those costs which a5S15t the work of th8 charity indud1￿ office and admini81ratwe costs. They are all incurred t11￿¢11Y in the furthering of the charity's aims and purposes. Dstinction ha5 been made for those costs relating to the raising of funds and to governance. these costs have been analysed separatety. Fundraising Costs are those incurred in seeking voluntary contributiens and do not indude the costs of disseminatirq 1nf0rrnat￿n in support of the tharitab￿ actNItw. The bases on which support Costs have been allocated are set out in Note 9. Fundraising costs are specffied in Note 7. Govemance costs are specified in Nots 9. Expenditure is accounted for on an accruak basis and has been ClasS￿￿d under headings that agg￿gate all costs rèLqtsd to that category. Where costs cannot be directly attributed lo particular headings they have been allocated to activities cn a tsasis consistent wrth the use of resourc8S. 23

NAMONAL RHELIMATOID ARTHRIT15 SOCIErY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 1 Accounting poli¢ieg (Continued) 1.6 Intsnglble and tangible fixed assets and depreciation Intangible and tangible fixed assets are initially measured at (ost and subsequentty measured at wst orvalualion, net of depreaation and any impaimient bsses. Depreciation is recognised so as to write off the cost or valuatson of assets ths their ￿sIdual vatues over their useful lives on the following bases.. Improvement5 to proper Website development Fixtures, fittings & equipment 20% straight line or kase period rfshorter 25% straight line 25% straight line The gain or loss arising on the d15PDsal ol an asset is determined as the difference bpiween the sale prt)ceeds and the carrying value of the asset. and is ￿¢99n1$ed in net Inc￿e/leX￿ndit￿re} for the year. 1.7 Impaimignt of flxed assets At each réporting date, the ¢harity rev￿5 the carrying amounts of its tangible assets to determine wh8th8r Ihèr8 is any i￿1¢a￿"0n that those as5els have suffered an impairnent105s. If any such indicat*Jn 8￿Sts, the recoverab￿ arnount of the asset is estimated in order lo dete￿ine the extent of the irnpainnent loss Irf any). 1,8 Cash and ¢a$h equovalents Cash and ¢8sh eqU￿a￿￿ts include cash in hand, depDSrts held at call wlh banks. other short-terrn IiquKI investrnents with or￿inal malurilies of th￿e monlhs or less. and bank overdrafts Bank overdrafts are shown ￿1h1n borrowing$ ￿ ojrrent 1.9 Flnancial rn8trumonts Tha charity has 81ected to apply the provisions of Section 11 'Ba8ic Financial Inslrurnents. and Section 12'0th8r Finano81 In5ttuments Issue5. of FRS 102 to all of its financial in51rurnenl5. Financi81 instruments are recognised in the tharitys balance Sheet when the tharity be¢ome$ party to the contractual provisions of the instrument. Finanaal asset5 and liabilit￿S are oftset, with the nel amounts presented in the fin8na81 statements, when there is a legally enIor￿able tight to set off the recogni¥ed amounts and there 15 an intsntion to Sett￿ on a r￿1 basis orto ra8lis• Ihè assat and setue the liability simullaneou51y. Baslc finaneial assets Basic finanGial assets, which include debtor5 and cash and banh balances. a￿ initially rnea5ured at transaction pri￿ induding transaction CDsl$ and ar8 subsequently carried at amortised cost using th¢ effective interest method unless the arrangement consb'tute$ a financing transactK)n. %there the transaction is measu￿￿ al the present value of the future ￿￿Ipts discountsd at market rate of inlere$t Financial a$$ets classified as receivable wthin ane year are not amortised. 24

NATIONAL RHELJMATOID ARTHRfYis SOClErY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 1 ACCOUn￿n9 poll¢l•s (Continuedl Baslc flnanclal Ilablllfles BasTC financial liab'lrties. including creditors and bank loans are initially ￿¢¢gnised al tran5actKn price unless the awangemenl ¢onslilule5 a financing Iransa¢tK)n. Whe￿ the debt instrument is measured at the present value of the futu￿ discountsd at a market rate of inleresL Finantjal liabilities cksslf￿d as payable wlhin one year a￿ not amortised. Debt instruments are subsequently Carried at amortised cost, using the effective interest rate method. Trade creditors are obligats.ons lo pay for good5 cr serv￿e5 that have been acqui￿￿ in the ordinary course of operation5 from suppliers. Arnounls payable are classified as current1Sabililie5 if payment is due within one year or kss. If not. they a presented as non-currenl liabilibes Trade creditors a￿ re¢ogni5ed initially at transathon pri￿ and subsequently measurEd at amortBed ￿$t U5in9 the effective interest methcd. Derecognltlon of Ilnanclal Ilabllllles Financkql liabilitie5 are d8recogni5ed when the Charity's Mntractual obltq8t¥Jns 8wr8 or are distharged or Can￿lled. 1.10 Fixed as6et investm8nts Fixed asset inve5knents are initi81ty measured at transaction Pri￿ excluding transaclion costs. and are subsequpnlly measuted al fair value at each reporbng dale. Change5 in fair Value are ￿¢¢gniSed in nel incomell8xpendilurel for the year. Transaction eosts are 8xpeTrsed as incurred. 1.11 Employee bpnofits The ￿5t of any unused hollday •ntitkment ks recognisad in the period in which the employee's servi￿5 are rèctwed. Temiination ben&fits ar8 recognised immediately as an expense when the charity ￿ derncnstrably committed lo termllia¢e the •mpIo￿l•￿tr of an èmployèo or to provN40 t9rn7lnst￿n bonofits. 1.12 Leases Rentals payab￿ underoperating1885e5, including any ￿aSe incenlNes received. are charged to incorne on a strabaht line basi8 Over the terrn of Ihe ￿￿vant lease. 2 Cr6tical a¢¢ounting estimatss and judgements In Ihe application of the charity's accounting policie5, Ihe Trustee5 are required to ma(e I￿geMents. estrmates and assumptions about the carrying amount cf assets and liabilibes that are not readity apparent from other sources. The estimates and asso¢ialed assumptions a￿ based on historKal expErEnce and other faclers that are con8klered to be ielevant. A¢lual results may differ from these estimates. The estimate5 and undedyiry assumptions a￿ ￿vieWed on an ongoing basis Revisions to accoun￿n9 estirnates ara cognised in the period in whith the estimate is re￿￿ed where the reViS￿n affects only Ihat perirAI. or in the per￿(5 of the revision and future perK>d5 where th8 revision affects both current an¢J future ￿riOdS. 25

NATIONAL RHEUMATOIDARTHRlnS SOCIErY NOTES TO THE ACCOUNTS FOR THE YEAR ENOED 31 DECEMBER2023 3 Donatlons and legades Group 2023 Charity 1022 2023 Z02Z £'Th]o £'o £'ooo £'ooo Donations and Eifts Legacle5 rerelvoble 561.5 I,U40.4 561.4 iiJ.u 561.5 566.2 I,V4V.4 1,601.9 1,334A 1,601.9 1,339.2 An01y￿S )yfvnd Re5tiicted funds Unrestrftted fund5 1.601.9 1,601.9 1,334.4 1,334.4 1,601.9 1.601.9 1,339.2 1,339.2 4 Inome frvrn rharitable aCti￿tIeS Group and charity 2023 2022 £'oco £,(￿0 Subscriptions Lottery income Research studies Gron15 85.4 23.7 29.2 72.6 83.1 30.0 137.0 210.9 258.4 An¢rty515 byfvnd Restricted fund5 Unrestrirted fund5 48.7 162.2 ZIO.9 55.5 202.9 258.4 5 oiher tradSngartiwtie5 Group and charity 2023 2022 £'ooo Merchandislngand other tradlng Income 20.5 20.5 25.7 25.7 6 Investm¢nt$ Group and ¢harity 2021 2022 £'oc Incomefrom listed Investments 28.6 28.6 34.7 26

NATiof4ALRHELIM4TOIDARTHRITISSOCIETY NOTESTO THE Accouf4TS FOR THE YEAR ENDED31 DECEM8ER2021 7 EKpendllu￿ on r41$1fv8funds Group8nd (horhy 2028 2022 Stsging fundraising event5 St3ff costs Support costs Governancec05t5 74.0 227.6 65.9 14.5 251.0 39.6 13A Eyndlture on ralsln8 funds a48.0 An￿y$1$bYfvtt￿ Restricted fund5 Unrethrted funds 348.0 348.0 38Z.O 382.0 8 Expendftureon ¢haritable •rtNiti Prov151Dn of Info &support Dliltal Innov•t￿n$ Ra151r4 •waweness CornrNnlty 5vpportln8 our support youog people Z013 1023 £'o Total ZOZJ 20ZJ 1023 2023 Dlrert costs Staff ¢osts 19.1 61.2 28 138.7 268.0 191.9 748n share ofsupportwsts (see note91 118.9 39.6 39.6 2773 Shareof 8overnance c05ts (see note91 13.4 13.4 46.9 415.4 80.3 299.5 141. 1,181 Analysb tsyfvnd Restricted funds Unrestricted funds 33.4 382.0 415.4 OA) 299.5 2995 10.4 131.4 141.8 49.6 1,132.3 1.181.9 74.5 60.3 244.9 244.9 Prylslon of lrfo & support itsi R•l$lng •w•renESS Communlty Supportlngour support yOYni PEople Total Group 1021 £'ooo 2012 2022 2021 Direct Costs Staff costs 48.6 246.7 23.7 51.1 58.5 299.8 10.0 7S.2 14th8 759.3 92.5 Share of 5UPPQrt costs (see note91 131.8 197. 65.9 65.9 46L4 Share of8ovemano costs note 91 14.5 5th6 441.6 74.8 564.6 172.8 158.3 1,412.1 alysis byfund Resirictedfunds Unrestdrted funds 24.7 416.9 441.6 74.8 10&6 1,303.5 1.411.1 564.6 564.6 172.8 In.8 149.2 158.3 74.8 27

NAnONALAHEUMATOID ARTHRIT1S50CIETY NOTESTO THEACCOUNTS FOB THE YEAR ENDED31 OECEMBER2023 8 Exptndiiurc•¢h•ritJblE aCtl¥ltles Cfvarlty p￿￿5￿1n of Info &support DIO1 R¥L%ln8 I￿rEnEsS cornmunlty 5upportlngour SUPPDrt young people 1023 ZOZ3 inhDvatiOnS Total 2023 2028 2023 2013 Dlrect costs Staff costs Share of 5UPWJrtC05ts IseÈ note91 Shareof8ovemanre Costslsee nots91 54.8 268.0 19.1 61.2 28.5 138.7 11&9 109.7 748.0 277.2 191.9 39.6 B8.2 39.6 13.4 13.4 13.4 415.3 199.5 Z4Qg 141.B 181.8 Anatysls byfvnd Re5trlctedfunds Unrestrlrtedfund5 33.4 381.9 415.3 10.4 131.4 141.8 419.6 1,132.2 1,181A 74.5 299.5 299.5 244.9 8D.3 PrLwlslfJm ¢)f inlo & sw>port Chil141 R•isinE Community 5upportlnB our &UPPDrt peDple Total 20ZZ 2022 2022 2022 2022 Oirettcosts 5tsff costs 5hareof svpwrtcostslsee note 91 SharEof govemance rostslsee note 91 23.7 51.1 5&5 10.0 75.2 140.8 759.3 461A 246.7 131.8 92.S 197.8 11.9 14.5 14.4 48A) 4JQ 74. A7L8 ATraly51sbyfund estricted fund5 Unre5trtctedfwds 74.8 OA) 1¢)&6 I,3￿.9 1.409.5 414.3 439.0 S64.6 172.8 172.8 1419.2 158.3 74.8 28

NATIONALRHEVMATOID ARYHRITIS50CIETY NOTESTOTHEACCOU14TS FOR THE YEAR ENDED81 OECEMBER2023 9 Supportcosts Group SupportCOSt5 Governancecosts 2013 Toi•l 1023 SypportW5t5 G¢J¥ewnvKe<051¥ 2022 2022 Totsl zozz Staff costs 36.$ 36.5 88.2 86.8 24.3 26.3 41.8 51.7 34.0 34.0 88.1 86.8 22.1 263 41 Sl.7 97.6 145.5 IOQ.6 56.5 Office Professional andcon5ultancyfees Irre¢oveftbleVAT otheroverhe3ds Depredatlon &dllapldatlons IDsurance Audiiois. rerwneration.. - Atsdiifees - Other services 145.5 114.2 565 73.1 son 50.0 17.0 17.0 15.8 15.8 31&9 3771 $17.3 65A 592A Analysed between Fundra15In8 InDie 71 Chadtable artlvitieslmte 81 3g.6 13.4 53.0 65.9 14.5 277.3 46.9 324.2 461.4 5110 31&9 6thJ 37Y.2 5Z7.3 592.4 The above c05tswere allocatedona headcountb35ty. Chority Sport Costs Go¥em•rtt¢ost5 2023 2023 Support costs Go¥ernaThEe￿5ts 2021 zou £'o Total Z022 É'ooo 34.0 97.6 1415.5 114.1 56.5 73.1 50.0 2023 Staff cv5ts 36.5 88.2 86.7 88.2 8&7 22.1 2&3 41.8 51.7 97.6 145.5 ofriLE profesS￿nal consumaw fees Irre¢overatrJe VAT other oveiheads DekYeclBiion & dilapidatlons 104.6 56.5 41.8 51.7 50.0 Abditors. remunerèih)n'. Audlt fees - other￿rVIceS Trusteeipenses 17.0 13.2 13.1 316.8 377.1 SZ7.3 atysed tetYJe FLmdralsln8 Inote 71 tharltable actIv￿leS (note81 39.6 13A 53.0 145 277.2 46.9 324.1 461.4 480 509.4 316.8 377.1 527.3 615 $89.8 The 3bovec05tswere albcared on a headcount ba515. 10 Tiustees NoDeofthETwsteeslnoranypersons connettedwith theml receNEd anyrernuneration duringtheyear. ard Itrustee wasrelrnbjrsed a t¢tal of £12 travell1￿ expense$12022'. £nS11.

NATIONAL RHEUMATOID ARTHRm5 50aFtY NOTES TO THE ACCOUNTS FOR THE YEAR ENDEO 31 DECEMBER 2025 11 Employee5 Number of employees 2022 Number Number The werage monthly numberof employees durfngthe year was: All ernployees- Group and Charity 30 31 The avera8e monthly number of full-time equivalent employees during the yearwa5'. All employees- Group and Charity 26 27 Empli)yment ¢osts Group 2023 thar]ty 2022 2022 Wages an¢J salarles Social security Pension costs 910.6 46.8 78.1 1.035.5 905.6 83.4 31.8 1,020.S 910.6 46.8 78.1 1.035S 905.6 83.4 31.8 1.020.8 The total amount of redundancy payments made bythe Company in the yearwas £5,10012022.. E5.4991. The numberof employees who received total employee beneffts (excludin8 employer pension tostsl of more than £60,000 is as follows.. 2013 Numbtr 2022 Number E60,001- £70.000 £70,001- £80.000 Remuneratlon of key rnan¥8emeni personnel The remuneration of key rnana8ement personnel is a5 follows.. 2023 2022 Aggregate Compensatio 184.9 171.4 30

NATIONAL RHEVMATOIDARTMR￿I55OCI NOTESTOTHE ACCOUNTS FOR TH£YEAR ENDED 31 DECEMBER 2023 12 Netgainslllossesl on investment5 2023 2022 'TrJo 65.8 RevaluaUon of investments 1141.51 13 Tanglble and IntanBible flxed a55ets- Group and Charlty Intsn8lble assets Tangible a55et5 W¢bslte development Improvementsto property Fixtures, ffitting5 & equlpmeht Total tanwble assets £'ooo £'ooo £'Mo Cost At 31 December 2022 Additions Disposa15 134.8 25.8 54.7 80.5 At 31 December20Z3 134.8 25.8 58.7 DepTeciatlon AL 31 D￿e11}bel 20ZZ Charge for the year Disp05als 75.2 Z9.5 33.6 13.0 18.1 At 31 DKember ZO25 108 41.2 47.6 carr￿￿8 amount Al 31 December 2023 26.0 19A 17.5 At 31 December 2022 59.6 26.5 si.o 14 Flxed asset Investments- Groyp •md Charlty 2023 £'ooo 2022 Listed investments Marketvalue at ljanuary Additions lincluding Interest rdnvettedl Revaluation MarketvaluÈ at 31 December 912.5 30.2 1,025.6 28.5 1141.61 912.5 65.8 1,008.5 15 Financial instruments 2023 £,￿0 2022 £'oL Carrwng amountof financial assets In5Erumenrs rneasured at arn9rn5ed c05t Instruments measvred atfairvaluethrough profit or kns 1.008.5 912.5 Carrylng amount of finantsal liobilitie5 Measured at amort15ed cost 97.5 102.0 31

NATIONAL RHEUMATOIDARYHRrris SOCIETY NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 16 Debtors Group Charity 2023 £'ooo 2022 2023 Z022 'ooo AmountsfallinB due wlthln orbe year.. Trade debtors Arnounts Dwe(J bvgroup undertèkin85 Otherdethors p￿payrnents and accrued In¢ome 17.7 17.7 337.5 48.6 317.4 35.4 337.5 48.6 317.4 35.4 397.7 402.9 Otherdebtors Include £25.3k relating to lon8 temi debtors recevable In greaterthan one year'stlme 17 Creditors: amounisfallFnE due wlthln orte year fjroup Charity 2023 2022 £,0￿) 2023 £'ooo 2022 Trade credltors Other taxesznd social curity Costs Other£redltors Accruals and defwred income 15.7 27.7 55.7 26.1 17.2 14.2 53.3 31.5 15.7 27.7 55.7 25.6 17.2 14.2 51.3 31.5 125.2 11&2 124.7 114.2 2023 2022 £'ooo Deferred income included in the flnanclal statements asfollows: At l January Movement during the year At 31 December 13.8 13.8 18 Retirement benefit sthemes Defined ¢)ntribution xhemes Thecharrty operates a defined Contribu￿9￿ pension schernefor all qualltyng employees. The 6$sets of the scherne are held 5eparatelyfrom those of the Charity in an independently administered fund. The charge to profit or loss In respett of defined contrfbution scheme5 was £46.8k12022.' £31.8kl. 32

NATIONAI RHEUMATOIDARTHRIMSSOOETY NOTESTOTHEACCOUNIS FOR THE YEAR ENDED31 DECEMBER ZOZI 19 Fund veiorKli•tlon The Inc￿ef￿N￿ofthechantyITrEIUde re5viued f￿r￿sCoMpr￿1ngthcfOll0Wi￿ unexpended b31ancesof donatK)ns andBrants held ontru5t for5peclnc purpose5.' Unrestrlcied Fund5 Momntlnfunds In¢Dmlng Resource5 r4sollrcÈ$ ewpended Tra￿t01 2013 2028 funds 2021 £'ooo alaKeati Jonury ZOZ3 Bapance at 31 DeRrnber2023 £'o Unrestrlcred DesIgna￿d-JuveThh1e Idiopathic Athdtisactiwties Deslgndted-to coverpredirtedopeiatinglossesin nextyear De55Enated-to coverpoteDtSal ￿n￿SIM￿ntIo5ses 1.369.1 1,809.3 10.0 1418.81 42.3 375.0 ao 1.397.4 I￿.0 I￿.0 SCO.0 Iw,o IS9￿1 119.3 IIA14.51 1.99?.4 Mov•ntntlnfunds Ineomini R•5Durcei Transfèrol resou￿e5 eKpended funds Z022 Z02Z Tho Balanceati January 1022 Balancfyat31 December2022 2022 £'DJo £'ooo un￿$trI￿ed Desi￿8ted-jv¥enltse Idh?pathl¢Arthriti5 activitie5 Deslgnated-to coverprediiled OPOratlTr8 lossesin nextyear Oesl8n3ted-io coverpoienti31 Investrnent10sses 1.871.2 on L553.4 38.2 11,784.21 142.91 1271.31 1.369.1 125.0 io).0 125.0 ioo.D L8?1.2 Ik6Z7.11 Re$¢ri¢itd Fynds Mo¥ementlnfunds IDcvrninB Resource5 Transferof S¢luT(es eNpended funds 2023 Balance at I January2023 Oalance &t31 DKember1023 1023 £OL InfOrma￿on¥k1e0l￿ H5ndl Enhanced Rightstart Str￿ tnana8ement pr0￿ct Blood MonrtorinKpublicativn 11.3 115 M15sion prolett QLab project 20 15.0 19.4 48.7 149.61 Mo¥emeTht luf BalaTh￿at i JiThJary ZOZI IKom1￿ Resources isour¢es qwended 2022 21)22 £'oc TThn51erof fund5 zz Bakn¢eat31 DKember2022 DeVelo￿eniof e￿arnIng$V1te ljevelopmem of onllne self.manaeemEntCOLrse Inscouand Information wdeo In Hindi elood Monitorlng publkatlon O¥v¥luyiiientofexErtlSE 5UPPVrt app Enhanced Ri8ht5tart JIAlma8ined Futures project Reprintof PIedKI￿SèOOk￿t JIA ￿de0 stres5 mana6emeni prole 15.0 149.01 on 15.0) 14.1 10.0 10.0 22.6 10.5 3Q9 19.4 33

NATIONAL RHEUMATOID ARThRITIS SOCIETY NOTE5 TO THE ACCOUNIS FOR THE YEAR ENDED 310ECEMBER 2023 20 Analysis of a5set5 between fvnds- Group Restrlcted E'QQQ Unrestrlrted Total £'ooo Fund balances at 31 December 2023 are represented by.. Tangible fixed assets Investments Current assetsllliabllltlesl 36.9 1,008.5 952.0 36.9 1,008.5 972.0 20.0 20.0 1,997.4 2.017.4 Fund balanw at 310ecembtr 2022 are represented by.. Restrirted £'ooo Vnrestritted f'ooo Total f'ooo Tanglble fTxed assets Investments Current assetsllllabilitlesl 51.0 912.5 630.6 51.0 912.5 650.0 19.4 19A 1,594.1 1,613.5 Analysls of Det assets between funds- Charity Restrirted £'ooo Unrestri¢ted £'ooo Total Fund balan¢e5 Ot JI De¢ember2023 are represented bv: Tangible fixed a55ets Investments Current asset5111iabilitiesl 36.9 1,008.5 954.7 36.9 1.008.5 974.7 20.0 20.0 2,000.1 Z.020.1 Fund balances at 31 December2022 are represented bv: Restricted Unrestricted Totsl £'ooo 51.0 912.5 633.2 Tan8Sble fixed assets Investments Current assets/lliabilitiesl 51.0 912.5 652.6 19.4 19A 1,596.7 1.616.1 21 Cornmitm•nts under operatln8 leases At the reportin8 end date the group and charfty had out5tandlng commltments forfuture mlnlmum lease pa￿ntS under non-cancellable operatlng leases. which fall due as follows: 2023 2022 £'ooo Within one year Between two and five years C￿erfiVe years 47.6 77.1 31.6 112.5 IZ4.7

NATIONAL RHEUMATOID ARTHRITIS SOCIETY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 20Z3 22 SubsidSary company The charity owns the whole of the issued ordinary share capltal of NRAS Communlty sen1￿e$ Ltd (company number.. 89532471, a cornpany reglstered in England. The subsidlary is used for non-prlmary pursy)se tradlng acrivIt￿s. All activities have been £onsolidated on a line by line basis in the Statement of finènc181 actfvities. The total net profit Is glfted to the charity. A Summary of the results of the subsidiary is shown below= 2023 2022 Turnover Cost of saJES Gross profit Administrative expenses Net profk 10.ii 10.ii 12.61 Retoined earning5 brought forward Sn 5ubsldlary Gift aid to National Rheumatold Arthritls Society Retsined earnings carrled forward In subsldlary 12.61 14.81 12.6 12.71 The assets and Ilabilities were.. The aggregate olthe assets, Ilabilities and funds was.. Assets abillties Tot¥1 n•t as5•ts 17.21 12.61 12.?) Called up Sha￿ cèpital Profitand loss reserve 12.71 12.71 12.61 23 Related party transactlons There were no related party transactions In the year12022.' nill ￿QuIrIng disck)wre. 24 Capltal CommltmÈnts As at 31 December 2023 the Charity had capital cornmitments of £nil12022.. £nill. 35

NATIONAL RHEUMATOID ARTHRITIS SOCIETY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED31 DECEMBER 2023 25 Cash generated from/ (used In) opèrations Group Charity 2023 £'ooo 2022 £'ooo 2023 2022 £'ooo Surplusl Ilossl for the year Adjustments for.. Investment income recognised in profit or loss Fair value gains and losses on investments Gift aid donation from subsidiary Depreciation and impairrnent of intangible fixed asset., Depreciation and impairment of tangible fixed assets Movements in working capital.. Ilncreasell decrease in debtors Incieasel Idecreasel in creditors 403.9 1288.61 404.0 1281.21 134.71 165.81 128.61 141.6 134.71 165.81 128.61 141.6 14.81 33.7 15.3 33.6 18.1 33.7 15.3 33.6 18.1 16.11 46.3 16.11 10.5 47.3 Cash eenerated froml{used inl operatSons 358.0 178.51 359.6 173.91 26 Analysis of changes in net funds At start of Cash flows At end of yQ2r Cash and tash equtvalents 308.9 358.5 667.4 Total 308.9 358.5 667.4 36