Charfty R￿istratIon NO. 113485915C039721
Company Re8ftstratlon No. 071271011Ehgland arbd Wale&}
REPORT OF THE TRVSTÉES AND
AUOITED CONSOUOATÉts FINANaAL STATEMENTS
FOR THE YEAR ENDED 31 OECEMBER 2024
FOR
NATIONAL RHEUMATOID AmRms 50aETY

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RNWMATOID ARTHRITIS SOuFrY
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NAfioNAL RHEUMATOID ARTHRIT15 SOaETY
TRU5TEE5' REPORT (INCLU0114G DIRE￿oR5, REPORn
FOR ThE YEAR ENDED 31 DE￿MBER2o24
The TiLssle*s presènt thÈiY tÈport and auditÉd tonstsl#latÈd attounts for the year Ènded 31
December 2024. The Trustees hbve adopied the Pfovlslons of thÈ StstefThent of Recommende
PracriFe1SQRP) "*(oyntin3 an¢ BeponinE by Charille< IFRS 102) ID prepiriThs annual r¢wrt
tsnancijl 5tatenEnts of the Charity.
The accounts have been prepared In •ctoYdar•Ce the acctsuftiinÉ wllcles set out In nvte I to the
acc9unt5 arKI x)mply wllh tbe Charity'5 8overnins dowmeni, Ihe Chariti¢s kt 2011, thè Ctsmpbnies
Act 2(YJ6 and -Accoun1i￿ and Reporting bv Charities: Statement of Recommènded pra￿te
applicablè to ctrKaritie5 preparin8 their accounts in acco¥dante with Flnantial Reportlng Standafd
applicable In thÈ UK and Reputs1￿ of Ireland (FRS 102) (effetlivÉ Ljantsary 2015 a5 updaled in 2019)..
Chales Report
A w3 rm w@Icome to the NRAS annu31 report on behalf of the Board of Trustees. l am very
pleased to report another successful yèar with Si8nifrtaht proyess In several directions. This
is entlrely due to the dedication and Pfofesslonallsm ol Ouf team, both stalf and volunteers,
whose hard work ofi behalf of all those livin8 with Rheumatoid Arthrltis IRAI and Juvenile
Idiopathic Arthritis (JIAI has rnade a real difference. I thank you all on behalf of the Board.
Flrstly. the Board welcomes our new thief Executive, Peter Foxton, who has taken over from
Clare Jacklin followin8 her retirement after many years of servlce to the charity. Peter
joined us in the Summer of 2024 followlng a rigorous sele(tion proce55 and brings a new
perspectlve on the challenges we and all other tharities face thanks to his relevant
experience in the sertor, latterly in income generatlon for Phyllis Tuckwell Hospice Care.
Peter has 'hit the 8round nJnnin< and Is already makin8 a real impact, not least In the
preparatlon of the new NRAS 5trate8y. This key document, whkh will guide ovr diredion
over the next few years, has been based on extenslve consultation acros5 health caro
professionals, our beneflclaries, volunteers and member5. as well as wlthin MRAS ftself and
wll I be issued later thi5 year.
Nationally the need for NRAS'5 service5 has never been 8reaÉer. The pressures experlerkced
by the NHS have resulted in challengès a¢ross the board afid the impacts on theumatolo
services, in terms of access and responsivene55, have been 518nificant. Our expertlse and
atient-focused approach can Gomplement NHS 5ervi¢es ¢hrou8h the prov15ion of
Inforrnation and support to both the newly dlagnosed and those who have been livine With
RA or JIA f4r thahy years. SÈr￿1c*s such as Right Start. SMILE and the Helpllne ean make
reèl dtffÈrenco to people'5 OUtcome5.

NATIONAL RHEUMATOID ARThRI￿5 50CIEr
TRUSTEES, REPORT IINCLVD1fv6 DIRE￿oRs, REPORT)
Foft THE YEAR ENDED 31 DECEMBER 1024
FlThincially, this has been a year of 50Jid performance. As predlcte<l in our budget forth
year. In¢ome was down on 2023,5 record level. 8y tl8ht control ol costs ho4vèvÈf. ¢Ombined
with very vJélcofh¢ in¢rea5es in legacy and iDve5tment irttome durin8 the second part of the
year, we were able to flnish 2024 with a small Surplu5 after accountin8 for irbVe51mefit gains
whi 1st maintainin8 levels of servlce throu8hout, Lc￿kIng forwèrd to 2025. thlThgs look
PQSitive due to OThROin8 effort5 to diversify ovr iTrcome stfeams as well 35 3 si8nific3Tht 3-￿a
grant frDin the National Lottèry recently awarded to help develop SOMÈ of tsvr service5.
With an Increasin8ly divefsitied fundirt8 stream and the irnplementation of our new straie8Y
we ère lookln8 to the fvtvre with conlldence.
SimLTrn Collins
Chatrof Tru51ees

NATIUNAL RHEUMATOID ARTHRMS SOClErY
rRtsSTEE5' REPOR T IINCLUOING DIREcfoRS' REPOR
FOA THE YEAR EIIIOED 31 OECEMBER 2024
Our purpose and actlvitles
Guidancè from Ihp Charily Corrtrhi5sion h$75 been used to review and develop NftAS's èlms arKI
Obj￿11¥¢5 50 thai attY¥itie5 I￿ Gleèrly focused ￿ derive 8ood public bÈThÈfit.
IX>jEcttYe5 arKI a¢ii¥ltJ*s
The obhects Cjf the Cha rity (the 'ObJerts"> are for the publlc benefrt ￿ promote Ihe relief of people
Ikwlrf wilh R￿uMat01d Arthriti51 RAI and Jurfenlle IdlopathK Arthriti5 IJIAI by..
Raisins awa reness and urKlerstondlnE of RA and JIA, includin8 awareness of the severity of tl
¢i5eases and their social and economic costs:
Providlrtg information on RA and J14 includin8 Inlorm3tlon on iheir treatments ènd drugs awa11 able;
Adwanting all aspects of the care and treatment of RA and JIA and the man4ement of ihese diseases
In their tofality,.
Providing educatlon on Ihe di5ea5es 6eneralty and to Indivlduals and thelr fathllles arnl (areT5 in all
aspects of RA ar•d J1& includin8 thelr treatment and rnana8emeni, and prowpdin8 inforniation aboLFt
avall8ble support.
SuppDrtiw individuals acrogs UK in relatlon to RA and JIA and their familles and urers, intludin8
pulling people In iouch with each other to encourage sell-help and support where approprbate,,
WorkinE alon8Side NHS rheumatolo￿ health professiona15 across the UK to provide the best Ca￿ for
patients as well as support the cJini(al stafl in their role&
(￿r ¥ision and purpose
0￿r vtslon Is a future Whe￿ everyone with RA and JIA can thiiwe,
Our pvrpD5e 15 to inlorrn and support people with RA and JIA and campaign for improvements io
care ar•d tre3tments,
We will achieve our ws•on by locusin8 on fgur rn•ln areas of work;
Inform1￿ and Educatin8.' To greatly Increase underslanding of RAarNI JlAand numbet of people
accessins our servlces
S4JPPDrtin8 and Empoweri￿. to support more people to safely 5elf-rni n48e their health by
improvin8 the relevancy, •ice551bility, vlsibility and reach of our serwices
CampBlgnlng and Researth: to 5UPPOrt fÈsÈarth and rampal8n to impme aco55 io hl8h quallty carè
•Thd tréètment5
Ralslng furK15 H rbd bullding a fèsil•ent 0￿￿niSatIon. to build a strong orsonI￿tIoTr ihat raises more
mprEy from dlversÈ Stsurce5 lo meet the needs of paiient5
Our prlnrlwl Jctlvltles
We are comm itted to prowpdifit *upport, e￿￿enced-b&sÈd I￿￿{matIo11, 5eNlces, edL*atiofft.
Caftlpaignins and paileftt advocacy of the hi8hest 9ual¥ty to, on behaFf of all, thosÈ affÈ(tEd by RA
nd JIA i(rosS the UK as well a5 their familiÈS. We a159 SYPPOrt health pr0fÈ5SiDr￿ts in Ihe fleld of
I1￿uMat0108Y and primary (ale th1o￿h thE provi5ton of free Hèaltkare Prpfe55ional rnemborship ol

NATIONAL RHEUMATOIO ARTHRrt15 SOCIETY
7RU5fEE5' R£PDRf IlNCIUOIN6 DIRECTORS, REPORT)
FOR THE YE)J4 ENDED 31 DECEMBER 2024
OurfrfJnt.Ilne sÈrvicès inFlwle:
A HÈlplirt* Yihi(h operates 30 hours per week and Is Martag￿ by a team of four telPwuèl'
An onllnÈ pepr 5UPPQrt community
Local and virtual £roup5:
A peei.tts.ppÈr telephone support programme:
A supwrted self-mana8emenl modular ¢-learnlTr8 pro8ramme'
Informatitrn booklpts.
WebsitÈs packed with information and downloadable resourto4'
PatiÉfii èvertts It￿th in person and virtually}
A membèrship xheme
Living wrth RA and JIA is not jusl about havln8 physical and medlcal needs. These incurable dlseèses
have a huge imw on emotional vrellbeing Ind qvality of Ilft ¢M both the in4Jividual an(f t￿rr famity.
We will continue io strfrve lo help peopk by suppori1￿ oll their needs In a holistic way whether
phy5i(al. medical, emotional, mental, soclal. econornic and/or eff•plo¥ment related needs as well as
thos* relaiiw to access to beThefllS.
We are èt ihe tabk at a nat5on&l level whenever standards and guidelines WJIA pathwaysand
access to treatment are bein8 dtscussed, We conduct our own S￿la1 ￿searCh and publish k¢y
reports on • topic of importarKe to people w¥th RA/JIA perlodlcally.
Tran51alional scleniific arKI medical research h•$ revolutionised the fleld of autfrimmulle condlthjfis
h as RA and JIA in the lasi few decades and whilst we do not fund mÈdical research oursel¥es. we
do SUPPDrt a Erowiw nufflbe¢ of atadÈM•c and clinlul researth stud￿5 thrO￿hOul UK on an
Ollgoin8 basls. We also support fecruitrnent to clinical studies and provide txpert VDlunteers to
advlse on issues ol Patientand Publlc Irwofvement. We do on o(cas•on conduct our funded
major social research slud*s often In partner5hlp wlth an academic Instiiuie.
In 2024, we continved Ehe deveh)prneni of our suite of e.leamln8 self.management programmes,
dev15ed and prDduced by our fourmler and now National Patieni Champion, Ai15a B05worth MBE. WE
ha￿ a total of Seven modulés fiÈély available for anyone to acce￿ on our websile arbd work h45 now
started on OLpr largest a nd most complex module to date, Cardlovascular Disease Risk Mana8ement.
In 2025 we plan to start WQfk on de￿rning a range of short vldeos to complemenl Ihe modules
already avallable. These VTrdeos will aim to present thÈ key his￿1¥ht5 from of our mcKlyle51Tr In
informallve way and will accesslble on variety (Jf di811•1914tforms. We a150 plan to run an awareThe55
campaign fo eniourage even more health professionals to utili5e the SMIIE modules for patient
edu(i lion by signposting people liviTrg With RA to register foi the progfammè.

NATIONAL ftHEUMATOID ARTHRrnS SOOETY
TRIJSTEES. REPORT (IIICIUOING DIREcfoRS' REP(
FOR THE YEAR ENDED 31 DECEMBER 1024
Nrf Income totalled over£l.$4ffl
How we raised our money
£n8.Th
£45J.4
£22S.9k
11
£59,Ik
00N￿> arrfl lifts
Clwiiable •ctfvths Oth•r Yxoffl•
• 102J • 2014
11 was gothg ts b• • Ch* to ropkakn *t a)corn• i•v•ls a￿j w il
Dv•d 10 b• with over•1 wKorM dcy*n 17.5% ￿ 2023. The yearfs perforniance was 48•ln dofflinated
by legacy bequests where reported Incon* ￿l¢l￿d £788.7k, representiw 0￿1 51% ol the Charivs
total income. Whilst this rewlle(I le8acy IncorTre wa5 a drop of ovtr 2496 on pnor ye4r li vi45 ￿111 our
secorKJ-be5t lesaw perfomiance ever and rpflects the trend we have seen in recent years for larger
individual beqtsests. We tEtnain immensely grateful to our very Benerous bÈnÈlattots whose gifts
enablÈ us to coniinue to lftvest in Our servTce5 and deljvei new irtrtOvation5 which are 50 needed
especialty ès we Ènièr a hèalth environment rr*O(e focussed on deliverlD8 servkÉs dpgitally.
Irpto<rte frym dofjltlons and gifts was £453.4K a reductlon of 19% on 2023, Work wlll commentÈ rn
2025 to ieversè this trend with ftKus on enhancing Our resvlir8lv1￿ ind Cor￿￿te packaEe5. The
IlgLpres a15D inilude fund5 re(el%red from phar[na￿vIoCaI compantes who ffl3nufaciure 8rMJ markei
medicine5 for RA and/orJI￿ This income amounted to E121.6k in 2024 {2023.' É92.4kl. equating to
7.9% of LO￿1 income. We c0Tr5ider all dDhat•c>ns and partrbefships knITth pharmaceutical cornpanles
ta¢pfully and work ¥vl*hin thÈ atcepted wde5 of practiCÉ SÈt down by Ihe A550Clation of thÈ BritA5h
pharMa￿uL1¢al lTrdu5try IA&pi). As well as hèlping to fund the cole serwitÈs that v*e deliverfo our
bernÈficiarie5. Ihese relatlonships Pri>vide NRAS wlth access to irtlportgnl jnforyDaiion I boui clinital
trlal data arbd hÈlp tts infvrm an¢ edu￿te otsr team membe[5 on RA and JIA, AS a keyexFYrt partner

NATIONAL RHEUMAfoiD ARTHIUTIS SOCIEr¢
TRUSTEES, REPORT Iit4CLUDIIIG DIREcfoRS' REPORn
F(￿ THE YEAR ENDED 31 DECEMBER 2024
NRA5 conEribute5 to advisory boards ahd employee iralnin& as WÈH as PTovidln8 SUPPOrt In the
de¥e￿pfftent of their Own patienl-tacin8 5UPPOrt rÈsources.
The Clbarity also operates a mÈmbèTship Scheme for those Ilvifit with RA or JIA their famllles and
health care piOfÈss￿n3[S which provides access to a mernber< forum. monthty new5Petters and a b
anp)ual magaiirbe full of intefesiirrf article5 and informatlon. IntomÈ from the membership Kheme
totalled £81.3k In 202412023: £85.4k).
Support for NkAS wès al￿ rècewed thro￿h 8lallts from trusts and found3tiorFs afid in 2024 thll
amountetl tel EID5.3k (2023., £72.6k), répfÉ￿rttlntt a 45% increase. We V4Ould like to expre55
partitular tharbk5 to the following organisations who all donated £2.(XK) or over: N&t10r￿1
Communltles Loite¢￿$ Fund Awards for All Ewlahd. National Lottery Community Funcl. The Plational
Lottery - Award5 for Ail Scotland. Edith Florence Spencer Memorial Trust, The Frank ￿t(br*I￿
General Charitable Trust, The Millenium S¢adlum ChartiablÈ Trust, Th¢ February foundat￿, The
fjrKe Trust, The Vande(Yell Foundatlon and The Eveson Trust.
We continue to work with aiademic partners, phlmiaceutical cofflpanles of ot￿¢ oi£anisatiOns i
the flelrl Df social research to help dévelop and deliver new servlces to best meet the need5 of all
Ih05e we serve as ¥véll as campai8n to effect change wlih governrnent. the NHS and thDse who
commiSs￿n healih and Social care service& In 2024 income 8eneraied from research activilies
toi•lkd £16.Ok {2023: £29.2kl.
All lTrcome receywed throu8h furKlrak51ng In 2024 contributed io enablln8 the Charity to provide a full
P(QEramrne of resources, Ictivitles and support which be￿ffits those living with RA JIA In the UK.
their families, schools and the healthcare pr4)fessiOruls who care for them. NRAS w¢uld lik t
acknowlèdgè and thank all the Indlvlduals. companies, trust5 a nd loundations that have supported
our work this year,

NAnONAL RHEUMATOID ARThRms SOQErY
TRUSTEES. REPORT IINCLUDING DIRECTORS. REPc￿￿
FOR THE YEAR ENDED 310ECEM8ER 2024
T1￿ expendltufe totolled £l.57m
(heral ex[￿nthr• yOOf weag•d ty 2.9% ￿ £1574m. Of lh* total am￿rt £304 7k w
spthit M raising funds to £348.Ok ￿ 2023. A total 01 £1.269rn (2023", £1. 182m) was swrd
Money spent on charitable activities
f438.0
£385.4k
UJO.2k
£1￿.4&
£71.
11
people
•202J • 1024
Avern8e full.tlme equfvaleni employee rwmbers totalled 26. urKh•n8ed Since 2023 wlth
employ￿nt costs I￿n& by 3.2% reflecti￿ an￿•1 c051 of Il¥k¥ Incr*ase5 awarded to all sthfl.
The Ch•rty rnported a con501bdate<l Mt surplus 01 £26.C* in 2024, down froffl £403.9k in 2023.
The Charivs wholly owned Iradi￿ subsidlary. NRAS Community ServKes Lhmited, was largely
donTh•nl hi 2024. ￿ cofflwny reported • nil net wofft on its actMt*s In 2024.
Net aS￿ts in Ihe ye4r Incre•sed by É26.Ok ￿tre￿inG.,
fjains on revaluatiofi of investments of £S8,5k, rep¢èsèrtting a 5.8% 8rowth In the fund
An incre4se of £212.Ik on cash at bank and short lerm irNÈstments
A reduction of É2H,6k on lixed as5Et5 4nd other current assets. primarity refle(tlnB Ihe re￿ase
of accrued le8acy intamÈ.

NATIONAL RHEUMATOID ARTh￿nS SOOETY
TrUSTEES' REPORT (INCLUDING DIRECTORS. REP(xn
FOA THE YEAR ENDED 31 DECEMBER 2024
Unrestrlcted. undesiirwted reseThes at 31 December 2024 totaNed £1,098. 1*12023." £1,397.4k)
Ivini rise to an operatiry cost coveray 018.37 {2023: 10.96).
The Ch4rltVs reserves polky requlres fvt It holds a mlnlmum of slx months. operaiin8 costs In
reservts which at 31 Oecember 2024 amounted to £787.Ok12023.. £764.%). This leaves free ￿serveS
a5 at 310ecembef 2024 01 £311.Ik {2023'. É632.Sk). Frtr reserves a￿ defined •s unrestricted funds
which have not been eanMrked and may be use(1 seneralty io fvrther the c￿ri￿$ objectNes,
A5 in Pfevlous years. the Charity contlnues to set aside de￿nated re5efves io wpport the continued
delivery of its cole serykes for the upcoming p2riod and also io cover ￿tentIal inve5tment105sek
These desl8nated funds in aggregate amounled to E475.2k as at 3 1 DKember 2024, The Board has
48reed to set aside additional funds thls ￿ar whKh will be desl8nated for servKe development
I£2￿). extensive awareness raisir% campai8n5 (£IC*)kJ ind an estate development fund (£IIXlk
Ixlrqlw iotal desi8naied to £925.2k.
How our unrestricted
reserves are allocated
2,Ci*).IX¥)
201J
2024
We wlll hard to enswe that our fvTrds •re used $0 that we feturn the bl8gest benefft
to ¢)ur beneficiarles for each pourKI Invested. We will Contin￿ the expanslon of our services to rnake
t￿ffl more Induslve. broaden our d¢ital offerlny a5 well in campal8ns to ralse awareness of
RA •nd JI
Golry con¢trn
Our healthy cash balance and invellment Portfol￿ means that we hm Suffielent Ilquidity to enwre
that we can meet our futurt oblytion5 as they becoffle due lor the ft>reseeable fvtwe.

NAfioNAL RHEUMATOID ARThftITIS S￿Ery
rRU5tEES' REPORT (INCLVOIWG DIRE￿oR5, REPORTI
FQR THE YEAR ENDED JI DeCEM8ER 2024
F￿ndraIsIn£ pra¢11¢￿$
ThÈ tharity complles With thÈ re8ulalory sfandayds for hjndra i5iry. We are rÈÈisterèd with the
FuThdraiSine Regu13tor arbd are comfftitiÉd to the FundralslD8 Promise and adherence to the Code of
F￿nd[al51￿8 Practi￿, Thls report covers the requirements Iharitl¢5 111115t follow as set DLIt in the
Charif*es Acl 2011 and the ¢hariiies Social and Protettion 2016,
Our fufidiai5ing effort Invofves Ér￿ur￿inE donations through a variety of events, apolyihg for fund5
from Erant-rna klnE bodiÈS vperatin8 a weekly lottery. Our ftyndralslng tÈam tofnprise5 paid
employees only and we do nol use ihe Sèrvi￿5 of èny pr4)feSsio￿l ￿nd￿lSer5. ￿1 dlrect marketins
Is tsndErtaken by ihe fuftdraising department to eftsure that il is not unfeason4bty intrusive nor
petSi5tent, All rn3rketin8 material ffjntalns clear instruction5 on how & person can be removed from
malling li5t5.
We operate our lottery compliantlw under licen￿ from our local autknityand all admlnlstrauort is
handled by a certified Exiemal Lottery Marw8er wllh the Gathbliry Comrnlsslon.
OtJr website outline5 Ouf complalrtts policy lor the publlc and clearly explains how an Inillvidual carb
Complain. We received no complaints thts year lft ¢*lation to fundrats4n8 artivlllés.
We have published 04Jr vulnerable persQns policy on our websire. ITr addition to our poliry we hlve
aTr agrttd operaiin8 procedufe to Pfotect vulnerabSe people. Our fvr)dfaisers. who are all paid
employet5. are familiarised with ihe code olconduct to ensufe that it 15 appl￿d properlv.
Invtstnient Polky •nd Oblertlves
Longer.ierni isseis afe irwested wilh ihe alm of ai ￿ast maintainlry the real value of c3pltal11.e.
a8alnsl inflation) within In appropriate risk Profile. The Charlty's investment obJeclive5 ore to invest
lor the Ion8-term Ifive years plus> in a diverslfied portfolio en5urin8 that there is sufficient liq uKlity
•￿il#ble to fund any 5hortfa115 or unfunded commitments.
Investment5 are rnonaged by external professional fund manager5 3$ permilted by the ￿levant a(t5
¥nd the charity commission guidelines. The Charity aifft5 to be a responsible investor and Ils
professiona l fvnd managers are expected to take accouni of Envirtsnrrbental. Social and Governan
{ESG) i55ues In thelr ihvÈstment analyst5 and decision*rnakin8 pro<ess and to Èngage with tf1151ees
when appropriate, inclvdln8 Ihe prowisron of pefiodic reports covering ESG i55ue5.
Investment perfomiance report5 are recelveé quarterfy from the fund managers and tF* TTu51ee5
review porforrrbonre annualty WFlh fund rnana8er5.

NATIONAL RHEUMATOID ARniRITlS socIErY
TRIISTEES. RÉPORT IINCLUDI MG OIRECfOR5' REPORT)
FOR THE YEAR ENOED 51 DECEM8£R 2024
Futurr pl¥
The TfuStee5 approve and adopt strategic ptsn5 for thÈ Charity every ihiee years detailpd
bud¥e15 are prepa￿£1 annually to support thÈsè initiative5 derfio•)*trate how the objectywes ￿11
be cFelivÈfÈd within the Constra5￿t￿ of prèdicted fundln8 available. The bud8et15 reviÈwÈd on
otsartEfly basis a nd èpprop¢iafe rnana8ement detlsitsns are taken In118hi of arly material fore(a5t
varlances.
ThÈ Charity IS currently finèlisins 115 Strate8lc pla n tovèiing 2025- 2028 byhith wlll set out how the
Charity alms to increase its reach arKI be able to offer 5VPPOrt and advice to rnore dlvtfse
communities. Worh Is already undep•vay to extend enhance our 5ervbce provision IQ
improve awarentss ol RA and JIA In the wldÉr community.
WÈ Èxpert to contlnue to work CDllaboratrwely to ￿mOve barriers to belw ible to acces5 the ri8ht
treaiment. 31 the right time in the rl8hl place. provided by the rlÉht profe55ional. We wlll conliThUQ to
work to red￿ce discrimlnation within the workp14ce ènd the wider society towards people with
Inflarnmatory arthritis. We will also champion ihe best eY￿enCe-baSed healihca re provision no
matler where in the LIK someone lives arbd we will support all those who work wbthin ihe hea Ilh
Servi￿ to provide the best holistic care without bein8 hampered by a sysieffl with prevEn15 thern
Irom a<hievin8 th45.
5trutture& 8overnBnce and management
G¢¥ernlng document
The Charity is controlled by its 8overnin8 documents, the memgrandum and artlcles arbd constitutes
a limired by 8uarantee company as deflned by the Companbes Act 2LJ)6.
The Charity15 a compa ny Ilmlted by guarantee and does not have any share capilal.
None of the Trustees has aTry benefKial Intefest in the company. All of the trnstees are rnembers off
the cornpary and guarantee to contribute El each in the event of a winding up.
Trusteès
The TrI￿e¢s, who ire also the direciors foi the purpose of compary law. and serwÈd duri￿ the
year4Trd 10 the date of approval ofihese attount5 we￿.
Mr R Bains
Mr RA B0￿Cher ¢rési8ned 18 M•rch 2025)
Mf 5 Collin5 (Chair)
Mr R Flwerdew IDÈputy Chair)
Mr J O Jordan IT￿45￿rer}
ProfesxJrP Taylor
Ms C Ward
MISAW￿l(
As set out in thp artfrcles (as att￿￿dèd in June 2019), Trustees alè rpquired io retlie after thrèe years
Fn Dffjre. A ret4riftg trustee shall be eli8ible for rÈ-Èlection_ Mrs Collins. Professor P Taylor 4nd V(s A
Wooll ¥Yill all theref￿re retlfe from o￿lte at the AGM on if JufiÈ 2025 arbd will 5ee1 re.C￿CtIon. Id r
S CDlltn5 will have Served nlne ye?rs at the lime of his retirement thi5 year but has weed tts
io

NATIONAL RHEUMATOID ARTHRITIS SOCIEr
TRIJSTEES, REPORT {INCLUDING DI RECTOkS' RÉPORn
FOR fHE YEAR ENDED 51 DECEMBER 2024
stanl foT re-appolntrneni io eft$￿re thèt Ihere Gan be an effectlvè handover tts a new Chair
In duè course.
Tr1151ee lTrductiOrt artd tralniTrg
rplew TrqJ>tees are briÈfÈd on their legal oblisatlons Ufbdèr Chafily law. the content of the constrtLJt
afid d*tiSiDn-makin6 pr￿e$s. tho business plan and recent financial perfom)ance ol ihe Charity. A5
part of the process they meet key employee5 and other Trustees and may atlend addit￿nal, relevFJnt
eKtemal trarnin$ a5 re9uired.
Ory•nlsatlèn
ThÈ ￿dY of Trustees conslsts of not fèwer than four and no more thbn t￿￿1¥ ifuStèes arK4
administeri thé Chi¢ity ih[ts￿h the Senior Executlves.
Re14ted partSes aYKJ fov0￿ration with other <Y(anI￿tIOnS
None of our trustees recelves reMunerat￿n or other benefit from thtlr work with the charity. Any
onfteciion between a trustee or ¥¢nior mana8er of the cha rity with a Supplier or other pamr ￿lh
v¢h4ch Ihe Charity tran5aCts must be disclosed to Ihe full board of trustees, In the curyent year Th)
S￿h related party transaCi￿n$ were reported.
Pay poly lor senlor st¥ff
Remuneration for key management pefsonnel is benchmarked a8ainst the voluntsry sector and is Mt
by ihe TnJstee& pay ol senlor staff is reviewed annualty Ind normalty increased in accordance
wrth average earnin8S.

NATIONAL RHEUMATOID ARTHRITIS
TRUFfEES' REPORT IINCLUDING OlftEtTOftS' REPORT)
FOrtTHE YEAR ENOED 31 DECEM8ER 2024
R15k nMnaym•nt
The tru5tces hove D rfsk maypagement xmiegy Inclvrflnq o lo*Mtsl ITsk Evolu4J¢lon whlth Is corfed
cvt eoch ytor.
Ilisk Category
F5Thancial perlormwnce and resllSence
5isfftifAcant reductitin in intom¢ 5tr¢gms
cashf10￿ due ￿ economic cllrnate could affett
future viabj'lity of the Charity
Mitigation and A¢tlons
Fundraising St￿tes¥ focu5ill8 on provlsh)n
of regular, predlctsble, uniestiTded intOfflE
stfeams
Anfiusl budgèt sèttin& process and
quarterly review5 With us on tish Ilows
and firMr)Cing o(operaiioTral plan5
Monthly maTha8èment ac(Dunt5 ¥elaiFi
key perfonnance indicaiors and reserves
covera8e
Protecufig the Charlvi •&sets
Markèt fluttuaifrtirts taused by eionom•
instability cou Id ne8atively Impact our
investment portfolio and reduce the financial
asseis available to the Charity.
Irwestment pc•licy is set so ès to maintsin
an appeoprlate and prudent risk strategy
Investrnents are managed by qualified
external advi*rs
Mairrtainlng a stabje team
Cc￿MpetIti¥e ￿¢rUItment markets resultin8 In
hlgh levels of vacancies could impact our abllity
to deliver our lull range of core servbcts and
lead to over.reliance on kty membefsof the
Rt8ular benchmarking of ￿mUneratIon
packages to et)sure comyiilivè Within thè
ch•rlty sector
Contlnue to priorltise staff wiellbeing to
maximSse retention
Work continues on s￿￿¢5510n plannl
IT Securlty
Failu￿ to erb5ure Iniegrity and SLYurlty of data
could lead to data Ioss or theft, poteniially
resultiry in fine% ￿pula￿lo￿lI darnase and
impacr dellve
ofour tofe services
Oata Intesr51y Ind 8overnance includiTr& GOPR
Fiiluie io meei Our regulatory obli8ation5 could
lead to fine&, repviaiional damage and impa
delive
of our core seNi¢ÈS
Attrartlfi¢ and retalningTrustees
Fwllure to aitratt trustee5 Wflh 4 ran8e of skills
could affett the future viabllity of the Charity
Engagement ol third party IT consuirants to
manage our IT 5yStem5 and controks
Appointment of third wrty data proiectron
5pecialistS to Ideniify and monitor risks and
ensuie tampliance with Te8￿1&110n5
Continue to work wlth our nelwork of
partners and Col￿agueS to identify 5Ullable
candidates
t2

NATIONAL RHEUMATLND ARTHRITIS SOCIErY
TRusfÉES' AEPORI (INCLUDING DI REcfoRS' REPOIT)
FOFi THE YEAR ENDEL> 31 DECEMBER 2024
Auditor5
In actardance wifh the compaftls artlclès, a re501ution prowsin8 thai MoorÉ Kingswn Smith LLP be
re-appoinied as atsditoraf the CDmpany will be put ot a Genefal MèÈtin8.
Trustees. r•spoThsibllitie5 in relwtton to the fln•Thclal statement5
The Tnjsrees, who are also the direttor5 of 14atk)nal Rheumaioid Arthritis S￿iety for the purwse ol
cornpany law, are respon5trble for preparing the Trustees. Report arhd the accounis in accofdanc
wilh applicable law and United Kingdom Accountin8 Standards Iurtiled Klngdom Generall¥ Ac£epted
AccouThtiw Practice).
Company law requlres Trustee5 w prepare accounts fof each finanoal year which 8ive a true 4Thd
fairvlewof the state of affairs of the charlly and of the incomiry resources and applitation of
resourre5. includin8 the Ir*toft* aNI expenditu￿ of the charitable ¢ompany for that yeir.
In kKepari￿ these accounts the Trusiees are requifed to:
Select 5Ultable accountlng policies and then apply thern c0ns1stènt￿,
obse￿￿ the methods aThd principles in the Charities SORP IFRS 102):
Make jud8ments and esiimaies that are reasonable and PTudenL'
State whether applicable VK Ac¢ounlln8 Standards have been followed, subJe(t to any
miterlal depafture5 disclosed and ewlained in the fiThanclal staiement5: arbd
Prepa re the accounts lin tht going concern bèsis unless It Is inapprowiate to presume that
tho charity will continue in operatlon,
The trustees are ￿ sponsible lor keeping adeq￿te attountln8 records that di5cF4Jse with reasoriable
curhcyal any time the financial posil•on of the charity and enable them to ensure Ihat the
accoun15 comptywirh ihe Companies Act 21VJ, the Charities and Trustee Investment Iscotlandl Act
21XJ5 arwj ihe Chlfities Accounts IScoikThdl Re8ulallons 2006. They are a150 responsible for
54feguarding the assets of the charlty ond hetKe fof taking reasonable step5 fof the prevention and
(J@lecE•Dn of fraud ind other irregularities.
The truStèÈS a￿ ￿5p￿rIs￿b￿ for the mainteThaThte and intesrity of the c4rporate and finantial
nformation Included on ihe chaTitable compan￿5 website, Legislalion in the Unsted Kin8dorn
8overning the preparation and d155emlnation of financial staternent5 may differ from legislalion in
other jurisdictlQn5.

NAnONAL RHÉUMATOID ARTHRITIS SOCIETY
TkUSYEÉS' AÉPtsRT IINCLUOING DIREcfoRS' REPORTI
FOR THE YEAR ENDED 31 DECEMBER 2Q24
stpi¢menl •¥ to dlxlc•yJ*e to èur auditOf5
In SD (ar is rhe trustees arè a¥•arÈ at the time of approving Quf TTUStees' Jnnual iÈportr.
There is Tro relevant inforlnation. being inlormatlon needed bv the auditor in &)nnÈctiO
With prtpafing their report, ol which the 8roup'$ auditof is unaware, and
The tfQStees, having made enqulrles ol felbw t¢uslets and the group'5 auditor ihev
OuEht to have lTrdlv•du•lly takÉn, havé Éèch taken a115teps that bel sh¢ h5 obll8ed to take as a
Irusree, in order to make themselves aware of any relevant audit infowmation and to
e5t3bli5h that the iudllor Is aware of Ihat irtfofmation.
The ifvsteés aré responsible fgr the malfttenonce and inte8tity of the iorpor3te ancj finandal
intswmalion included on the charIlab￿ tompany's website. Legislation in the Uniled Kln8d&m
6ovemln8 the preparètion and di55ernination of financial statements may differ from le8islat•un i
other iurisdictDDns.
S Collirts
c￿air of Trustees
J Jotdaft
Treasurerl Trustee

NATIONAL RHEUMATOID ARThRins SOClEtY
YRUSTEE5' REPORT {IPICIUDIN6 ts1 kÉttORS' REPORn
FOR THE YEAR ENDED 31 OE¢EM6ER 2024
Oplnbn
have a4Jdlied fthan¢i#l sl*ment5 of Nallonal Rh8tsmalthd Arthntis S(Kiety {the 'p¥ent
charilablÈ Tr)ryany') and its subsidlary 'gtOup') fr>r Its yew ended 31 D￿4￿M￿ar 2024 which
(wrlse Il>e Consolldatèd Ststerywl of Financial Actlvltltt, (irtludin9 the Consdid?ted S¥mmry
IncomÈ 8nd Expendrture Accotsftl). thè Grtsup and Parent Charitable Cornpany Balancè Shèèts. iP
ConsoJKlaied Stalèmmt of Cash FI￿￿3 and notes to Ihe flnanaal &tsteffients, induding 9¥n￿cant
atCOLtnb'rtg ptslic>ps. The financial reporting Irarrtework thal ha5 tjeen applied ￿ Iheif wepara1kJn is
p￿￿rable Faw and Llnrtéd KirtQdom Accoun￿9 Standards, Flrtancial Rewrfin9 Standard 1
The Financial Reporting Sta￿￿ard appii¢abl8 in UK and Republic of Ireland (Untted King¢Jom
Generally Accepied Accounting Pract￿e).
ID our opinion th8 fiftancial $taÈw*nts".
rve a true and lair vh7w af thè sEal• ol Ihè )r￿P,$ and th¢ parenl charilabl• ¢ompaty'$ affairs
aB at 31 DeCèrn￿r 2024 and ol the group's incoming cesourtes ond aPpkati￿ ol resour￿1,
Ir)clLKfiry its incon* 6XPèhdrturè. Ihè yèar Ihen e￿Jed.
have been propefly prepared ￿ aCcorda￿e wilh United KlThJdom tsèftéfaty Ac£eptsd
Aceountiflg Prac￿￿, and
havè bèèn prepared in accordance vnth the Companles Ad 20￿. ts Charit*s 4nd TnJsi•8
Iryvestmenl {Scotland) Aet 2005 {as athènded). re9ul8lions 6 and 8 01 th• char￿8* Accounls
(Scouand) Regulalions 2006 las amendea) and thé Charrt)ès Atl 2011.
8a81• lor oplnlon
e coTrducied our audrt In accordance with Internat￿• sianoaiés on {UK) IISAS (LJKI) Bnd
appk4tA8 law. Our respons￿111￿.es under those standards are furthL¥ descnbed in tho Audrtorf$
Re3F4)n*￿Illie$ lof ihe audrt of the fmancial slatements sectt)n of oui re[￿l are indÈpendent of
Ihe Gh¥iiabfe conwany in accordance with the ethical requirements 8re relev8nt to (Mjr audrt of th•
ffinarwl Statements in the UK, IrtludirvJ the FRC'5 Eth￿1 Starhaard, and we have fuini*d our other
81 responsI￿tEleS in aGG0rdan￿ Wih these reqvJr•ments Ive L*beve that the wdrt ewdetKe
have oblained i¥ ¢ufvSpffli 8nd apFKopnate to WOVKle a basis fry our O￿n￿Jn.
ConcluBlon• r•l4llng 10 goSTrg Gonurn
In avdilir*g the fingnci81 *t¢￿*￿ts. we have concluded that the trustees. uae of the swjins ￿l￿ern ba618
of wJuniiry in tho prepatstson of th¢ fin￿¢1?1 staipmwis 4$ appfoprlats.
Based on the work we hawa wrformed, we hpyg nol vjenif￿￿ any rnateftal UnC8f13inlies robting to
eve47ts or condilrons that, indiv￿UaIty or collectlvety, may cast s￿nIfiCp￿I doubl on Ihe group's and
parertt ch8rrtable company's atsllty to continue as a goir¥ concwn for a perb)d ￿ al lÉast t**l¥e nK>nlhs
from when Ihe financial sl*ment5 are authonsed lof issue.
I￿r reswrbsibilibès the Iw￿¥1￿.11ts.eS ol the Iru8te•s wth respèct to g)in9 con¢errb a￿ degCTiberS
in ¥p*Yant seclions 01 thls r8pofL
Olhèr InfDrnl•tlon
Thé othw intsrrnptic>n comprtses the Inf0m￿liOn inthdÉd in the ?nny?I report oih8r than the finantial
stslements and OUT auditorfs rppcKI thereon The trustees are respornsible ts Ihe ot*yeT inlornkBliOll
Otltsinèd in the annual reporL Otsr opiThlon the finangpl slptemenls does nol co¥or thè cthèr
nlDtnation and. èxeèpl lo Ihe pxtent otherwlse explluty slated In our re￿r( we do n(* ejprpsg any
m tsf CAy)clusion Ilwoon.
15

NATtONAL RHEUMATOID ARThRtTIS SOCIETY
TRU5TEE5' REPORT {INCLUDING DIREUOR5' REPORTJ
FOR THE YEAR ENDED JI DECEMBER 2024
Ouf rèad Ihè othér ￿k￿rnat￿l and. h) dem￿) Èo. whé￿￿1 thè Offtéf
t]rrnHIiDn iy m¥teriplty inc4yt5i5tenl wilh Ihe tr￿￿1a1 staiemeTrts w ¢Jur krhJwl¢dge obtsined in Ih
urse ol Ine audrt or Oihep#ise appeafs io be rnatulially ml$staiÈd. If we Klèniify SL￿￿ mai8ftai
Ir￿n￿en¢19S or apparpnt material mi5state￿￿nts. we we required lo 4JetPfmine wheiher there iy
M£￿[181 M￿StateMent in ihe finan￿1 statsments themsefves. 11, bagéd on thè w￿k w8 pèrfonii8d.
WB thHt Ihw? 15 8 mBterial mi55tstenwnt of thiy otr*r infonnBD'on. we are iequirpd to
thai raci.
We have nothing to fepNt Irb thts fegard.
Oplnbons on oth•r matters prnscrlb•d by th• Companl•s Act 2006
In otsr orAnion, bas•d on work Uftd8rtakén In tho ¢A)vrs& ol thè audlt.,
Ihe information 9Nen n the truglees. annual report fw the financial year ft)r the finanGial
Stat￿ents are prepared is conststènt fIn￿C￿l staiements,. and
p trustee¥. annual has been prepared in acwidwKe with applK4bie kga] reqU￿￿￿nIS,
attorn vn whkh wp arn rn4uired to report by exGeptton
In Ihe light of Iha knowl&Jge and understanding group and p*Mt ¢hartsbla cornpafty and the
onvri￿rnenI Obtair￿ in the courde of the audit, we have not idenirf*•J rTratef￿1 misststements in the
trLrttth$' arMu¥ reporL
have nothing to r•F)Ort in rnspect of the foll￿1r￿j mallws th• Companiès kt 20(￿, the
Charit*s Accounts {ScollaThd) Regula￿￿$ 20C6 (as an￿￿Je￿) an¢J Ihe Charities Act 2011 require us to
reptsrt to you rf, in our
p¥ont Ch¥ti3b￿ comparry has keN adequate arKI s1ffK￿t x£4wllng reC￿d9, or
ieiums adequate lor audit have not been rec•i*AI from branches I￿4 vlsll•d by us" or
Ihe p8renl charilabk companys financial stalements we in a91•omenl wbth tha accouThVn9
r•cords and returns,. or
certain di8clo5ures of truste•s' r•mtsnorat•on spxifièd by law ar• not rr40o:
we have receNed &ll the and explana￿0￿$ we rewire tof Ouf audrt,. or
the trustees w¥e not entrtled to prepare the finarKial stslements in accordance with the irnll
corrpanitis regrn and lake •dvanta9e ol the sTro11 cwipan*s exeffloKn In preparing 1
*A4$iee$' report and trom we6wiry a straie9K repo(L
Rpgpormlblllgles of tr￿￿te•8
A¥ eKplgined rtxye fvlly in Ihe trustees. ￿9p￿SibIl￿￿S statemenl sel Out on pagè 13. thè Irustees {who
am also the dirèctois ol the charitable company lor the Pufwses ol cornpany lawl are Tesponsible lof
prep¥alton of the financ￿1 5tsteNEnts belng sati5fie<l that they givè a truè and lair viÉ¥r. and
r such mlernal control as the trustees detenniDe Is necessary to enable the p￿par￿tion of finanGial
slatemerth th4l are tree from nwterial mi55taternenl, whether dye to fraud or érror.
In prewrin9 Ihe *ten*nts. Irugtees ￿ ￿5￿nsIble for aÈsèSSirtg the g¢oup afid parènt
chantsb￿ thIIPahy'* abilty io eorthntsè as a gotng eoncèfn. d￿cloS1n9, as applicable. matters relatéd
to concern aTrd using 9ping Goncem basis of gc¢wnling the trustees either inlpnd to
littuidaté thè Jfoqjp or paièfii tharitablè company or lo ctase optratK>ns. or h4ve Tro realisiic altem1￿.¥8
but to do 3Q
Audltots R•Bponglbllrtle¥ for the •vdll ol th• flngn¢lwl rytstoffjom
tye have been appointed 85 auditor Secb'on 44{1 Mc) of Chpaitie5 and Truslee I nvÈGt￿￿nt
Isttooand) Act 2Q05. Companies ACI 20￿ and S*dJon 151 of the Charn*s Act 2011 aTrd
YrNJ in a￿ordance wth regulaiions made unde( those Act5.
16

MATIONAL RHEUMATOID ARTHRITIS sooÉni
TRLisfEÉS' REPORT {INCLufAN6 DIRECTOftS' REPORn
F¢￿ ThE YEAR ENDED JI DECEMBER 2024
{￿r Ire to obiain rèasonabte gyJyrance about whtthèr IhÈ f￿￿claI 5t¥lements a5 a wh
are IrÈé Prom rhatenal nkt55t4iemeni, wnethèr duè ID ftaud or eftot, and to wue an auJitors tetjort Ihal
h)dudey (wr opinion, Reasc*nab5& assurance is ¥ hBh level of assu¢an¢é. bu1 is ngt g 9ygrEntep thai an
dkl cond(pCtèd in attcwd4ryn¢e Wilh ISAS (UK) wlll ahyays de*t g m*rial Misstaten￿nI when rt éxisls.
Mis5tatpmEnt5 can arise Iroth fraud tsr orror are matefiai rf. individually in Iggr4ats.
they Coulcl rèasonably be expetsd io Influence thè e¢onwwG ￿￿1$1004 of u¥ers taken thè batsi5 of
IhesB final￿1￿1 slalements.
At of an 4udrt In accordarté with ISAS (UK) we exerclse prolttslonal JLKIGen*nl * rrpiniain
professional SCePb¢ism throu9hout the audL Wé also:
Idenikfy and asséss ts risks ol rnalefial misstalemefit ol IM hnan¢ial $talw*t￿, Wh￿tI)er dwJ
ta Or error. design 4nd perform audil procedufes responsive to Ihose flsks. and obt8
audlt evKlence Ihat Is SuffiC￿nI and apwopn8te to ￿0¥￿Iè a basis for Quf opinion Tr rLsk ol
r•Di détecting a misstatement rèsulb'ng from fraud is higher than for one resumih9 fTc>m
ror. ag fraud may Involvè colluwn, tsgery. intents'onal onwths, mi$opre5eniBlions. or the
ovérnld• of ￿ternal c￿trOl
Obtain 8n uftd•rsiandln9 of intemal control relevanl to ts audlt Its ordey to deg￿n audit
proced￿re5 thgt are appropriate In the orcumstances, Iwt r)ol for Ihe purpo8•s of èxpf8ssEiig
on the ell•¢tlvertess of the group and parent ¢harhabl• ¢empany's irtorn81 GoThtroL
Evaltsalè thè tpproFYiateness ol accounting polK¥es Lued arKI the r8asonatrAené&s or
accounbn9 esllmaltt and related thsc103ure8 made by Iho trusteès.
Coneltsdè e>n the appropriateness ol the twstees. use of the goiTrJ concern basls of *eounlln9
and. b88ed on thè aLrfJIi évrtjen￿ obtaiThed. whether a rrotefial urKerlainty exists reLthd tr)
events or e<4nditiMs that 819nrf*anl doubt on Ihe group and pafent charitablg
company's ability to co￿nue as a goffig concem, If we conclude that a hlalerial uncertainty
exisls, we ar? required to df3W attentlon In Our audrtorfs tewrt to the relaled disclosures in tho
financ4al stgtemenls or, Il such disclosures are in•dequalÈ, lo mcKJify Our ownion. 04r
conclusions are based ￿ Ihe audrt eV￿enCe obtained up 10 the date of 4Jur 3udrtoV$ repo
Huwever. fulure events or conditions may c8use Ihe wp or paTenl Charita￿ company
Gea5e k> contsfi￿ as a going conGem.
EVaIL￿te the r)v￿alj pr•s•n&ttin. Struciure and ¢ontsnt of the IInanc￿ ststoménts, inthdin9
the dkscbsw•s. and whether the fina￿lat s¢alements f•w•s8nt thè undetying tsws&tK)ns arml
•¥enls in a nKqnner ihai ac￿¥15 far wesentstion.
Oblan sufficient apprDprwte aLKJrf evidenc• regarding thé fina￿181 Mirom￿ll¢n of the
busitie5¥ ￿Vrt￿3 wdthln the group to exp￿$3 w opn*Jn on Ihe conS￿dated finana81
¥i&ternents. ￿ are responsitrAe fof the direaion. sup8r¥ision and perfiymwGe QT the gfoup
audil, Wp r¢rnB￿ solety fessx)n&ble lor our audit re￿)[L
Wtr communi￿le ¢ho%e thargeé with 9oYemanGe Ip9w¢I￿g. ?mw9 Other mallers. Ihe ￿nned
cope and It'ming of Ihè audrt and S￿￿[r￿￿nI audll findsngs. Including ￿ swnrfr4nt defveThxs in
Irbtemal conlroj thal we i(lentify duri09 our audll
Explamatltsn as to what exttnl th• audtt wat eonsld•rad ￿41p￿￿1• of d•ts¢tlng Irr•gLrlarill*&,
IncluJiTrg fr4ud
Irregul4ritips, iTrcbJding fraud. lftstsnces of nonrycwpbance wllh laws and rÉav1atit￿s. ¥IVe
pwocedurés in linè with oyr regponybtlities. outlinèd aboYÈ. to dEI* materi* mi55taiements In rÈÈpÈct
of irwvlorities. l￿dud1n9 Ifaud. The exlpnl ¢0 which our Pr(￿lures ar8 C¥*J* of d￿e0￿￿9
regU1arrt￿$, iftcluding frBu¢J is detaiÈd below.
Th& otJi•ctrvÈS Ot pvdil 111 respect ol Iratsd. arè. to idÈlltty Bnd ?*gess the risks of matérial
rrti&stslewt of the fina￿la s&tèrhèrtts dup fr4wJ; to obtain Sull£￿7t a¥4)rO￿.* gvKleFb
17

NATIONAL RHEUMATOIO ARTHRIT15 SOCIETY
TR115tEE5' REPORT (I NCLUOIIIG DIRE￿oRS, REPO8TI
FOR THE YEAR ENDED 310ECEMBER 2Q24
wegarding th8 aSSèSS¢d ri5Pfs gf rriatorFal miSstste￿￿nI due to fraud. throu9h <le5igning an
InNJlEfiEnbng ¥ppropriate rèsFx)nse5 ¢0 those assessed risKS,' and ty respond appropKiai•ly10 Instart4
f fraud or suspèctèd trawl idenlified durlfla thè èudit Howoyer. the wmary tssponsibility fur ihe
prÉtVéntwM and cleteclion ol Irajd rÈslB wilh l)oth ￿anagemen1 and thiw Gtsgrged wrth
charilable company.
Our apwoach wat as tollow5",
Vve oblained an undÈrstsnrfin9 of the Wl and rÈgulat(ry requifements apPI￿able Its
charrtablÉ company and considéréd that the rTW)31 si9Trificanl are th8 tompanw 2Q06, Ihe
Charrties and Trnstée Investment ¢Scolland) Acl 21x15 (as arnended), regulatthis 6 and 8 or
Chanl•tsS Accounts {Scodand) Règulalzons 2006 (as amended}. Ihè Char*ptiS Act 2011. 1
Charty SORP. and UK firnanc4pI reporting staThdards as ¢SL*d by the FThnaal ReportirY4
Counul.
W• ¢)btawJed widerslandlng of fvJw the chaniabl• company carnplies wth Ihe
requirements by éISCussions with managem￿1 ar￿ those chary¥d with 9overnancè.
aSseS￿d the n5k of rn3¢erial mlsstat8ffbènt of the financial statements. IrtIL￿1￿9 the rlsk of
rnalwial mi55latemenl du8 its tra(Kl and h(yrt il rn￿ht oc¢ur, by IKldin9 discussions wlth
mana9emenl and ihose char9ed with governance.
We inqqjlreo ￿ mana9en*nt and those charyd with govemance as to ary kntr*n insl*Kee of
ntrn-compliwtce or su$pe¢tèd non<0m￿.al￿e wrth l*•VS and re9ulalion$.
BBsed on this Ltndèrstanding, we ￿e$￿Tred s￿dfiC appropriate audil procedures to identify
instances ol norkwipllance wlth laws aThd regulats)ns. This mcludtd rnaktng enou1￿5 of
managerwi and IhM• charged wrth gwern￿¢t and ¢btaiThing addit￿n81 corrobwknv
e￿Ie1bcO as r•quirod.
Therè are inhereni liffli1a￿￿S In the audlt Pr￿edureS doxfiw abry¥e. ￿ are less Ilktrty to bacorne
awwe of In$tarK•s ol rbo¢bcompl•n¢6 wlth laws and re9ulation$ Ihal are not cloMfy re181ed lo ever)ts
and transacEion9 rellecied in the fin3nct81 ststements. Also, thè nsk of not detectlng a ffoterrdl
mi8gt*errTrent duo io fraud is ttigher than the ftsk of rKA detecb'rbg ￿e resulbng from efror. as fraud may
Involve (￿lt￿rate concealm8nt ty. for example, forgery Of Itt￿nIK)n31 rnisrepresentaij'ons. or throuoh
Us? ol ou¢ r•port
Thts report fj made solely to ￿ d)8(iiable company's mÉmbeTs, as 8 txxly. in a¢cordancè wilh ChapEef
3 of Part 16 of compar￿ Aci 2C*)6, and to the charty's twstees. as a bfrjy, in aCCofdan￿ wilh
Sèth¢n 44{1)(G) ol the charrt￿8 and Twstee Invtstment {Scoiiandl Act 2005. and iospect ol Iho
£onsoJld41ed finan¢Aal statemen15, In aGcordance wth Chapter 3 of Part 8 of thè Charilies Act 2011 . I￿r
Audtt Ipeen undertaken so that we mghl slate kn the Chantsbk coffvbny's mernbe(S ArKI
truslees those matter¥ which are iequired to sl* to lh￿ m an audltor's report and bf ￿ other
Puf POSQ. Ty ¢he ful*¥i extent wnnitted by law, we Oo atr￿pt or as￿rre lespons￿Ility to any party
ther Ihe chartsble ￿MP￿DY, the chariiable c¢mpany's ￿Er1*e15, as a body. and the Ghority's
In￿E8eS. as 8 boty for our aLM*rt Wofk, for thi¥ rppgffL or for oplnion we haye fornKd.
Luke Htstt (Seniw Statutory Audiior)
Daty, 02k7/2D2
The Shipping Buildlng
The Old Vinyl FatlDry
Blylh Ro
Hayes. London
UB31HA
for and on bÈh8if of Mpore K￿gStoft Snkn LLP, Stslutory Aud41of
MDore Kirwjston Smllh LLP ig eli971)le to xt as a￿ditOr of SeGlion 1212 01 lh8 CA)rww AGI
2006.

PiATIDFthL ftXÉIIPMTOILI ARTHllln5%ICIETY
COleOuDAfEP STATEMENT OF ￿tr￿￿lES IIThEl*thr4 lfvtOmE *￿1 É¥pv*twoA¢wwil
FQFI YV4R Efw Ji oÉ(EMÉÉI 2
Tot
Lknrthrltt•d Ilq51rl¢
TofAt
nds
17•nds
1,141,7
191.7
14.5
1242.1
225,9
11,5
I,fyJi.
162,2
20.5
I￿1.)
210.9
11Tr.5
(hiriknbk ¥cthil
4&7
oo
An¢
15knK
tho
&0
L233 4
xo
L269.4
L1>2.>
49.
LIIL9
Yolal r•H￿rE•s
1.$38.1
741
*4et belfft lrpltstff￿rts
13LI>
IL41
132,51
33￿0
3XI
rAO
Gvo5S tr•rnsf•r% bttw Iw
0.0
0.0
oo
oo
Il¢t lur*
27A
40J.9
11 i
Lg)7.4
2Qa
L5￿1
11.51
19.4
L5
L613.5
0.0
I￿23.3
IW.4
?￿17￿
Thi hWE5 13 ￿ IF f4XM Pwt ofthw
19

NATI(￿L SQ
(<WAPANV 5TATÉMEPU OF I￿￿11￿5 (thKludlry
FOR THE ITAR Qr**D 31 DECEMBEII Ioil
Tatal
run
2024
XOJ
IQ23
L241.7
191.1
Ik4
U42.1
I,￿L%
UA
1,601.9
OD
OD
145
59J
J4_7
14.7
1.5Q7JJ
U7
5fj
L169A
L13U
Llll
53•1
J&ts
49.6
iJi,11
[0.9
17A
2&0
Fyrkna •1 l J•J•ry
lao
L6141.1
13
L026.0
Tht st4tem*x Df •ryMlly* *Klk•*es M PIAs&)d lomes r•trY￿ In lh• ye•1,
The Sf*EErwrt OF I¥￿r￿[l￿ arth¥lw 0150 IhErniulrtmwts Ir

*A YItspuL It*lEUMATOID •JET*IftITty SOQETY
¢OP4s(X￿AT￿D OIAllffl 8ALA*•¢E SPIIET5
Folr YHE YEAR EMDED 31 DECEMB￿ 2(124
Gf¥VAP
Eharlty
2024
IgiJ
2023
Flxed •xs*ts
lftuwlbk i55Vt5
T41￿ble a55￿5
15.0
13.8
J6.9
1.099.3 IPJ8.5
28
i.fiy>. J
I.t10&5
1.131.3
IJIFIA
I,1)1,3
IP71,
Cuf¢*ni *SS•t5
Debrors
1$
129.0
161.5
611.0
132,1
261.5
617,6
0.0
667.4
•t ￿ttIn
IJX18.5
lJ)71.2
LU71A,
u•￿1￿1."
Q•drtor5.' fallkn$ witlaTr on• )wr
17
197.41 (125 2>
197AI
1124.71
Net t4¥rw*
911.1
913,1
T¢l•l etsrrent Il•billtI•5
lJ>17,4
2M6.1
1,020.1
ljnrtstr￿Cttd fwb¢¥
estrirted Fmds
19
19
1023J
20,1
U97A
20.Q
I,oz
2Q,I
ILMI
2.043.4
017A
2,O46,1
L020.1
The Tntstt•5 Iwvt we￿red •ctounts in x¢Ordan￿ wlth se£tth 39101 the Cefflp•n￿ ILt 2IJKs Imd s•rtlon
13101 the cl￿rItieS A£1 1011 and rDTrllliufe the aNn¥al r•qUIr￿ Comwnles A£t 21ty26 4fid irè ¢knil*iion to
trustees ol the cornp•rw.
Tl>M are prepfi￿d In att￿dI￿ wlth IhE sw(lalwo¥vJlord ol Part 15 C(W185 Att 2Iy)6 afe (
thwlilknn to the rrornbers o111* comp￿¥
Th¢ •t p•4u 23 to 37 lorni ptrt ot thHt •r¢ourt
atecruAts w•r* 4pprw•d the BD•rd olTrustr*s on 17 ju￿1 1025
21

NATKJN41 RMEUMA7010 AmlRm5 5QCIErY
CQI45QUDATED 5TATEMEtn OF CASH FLQW5
FOR THEYEAR ENDEO Ji fKcEMbER
Gmup
Charity
ZQ24
2023
2024
2013
Cash froth opqTrilrn¥
Cash l￿d kn ¢per•iDQhS
19LS
358.0
194,1
359.6
In¥qstJni
Purch15e of InT3ll8lble firfvd •ss•t5
Purcha￿Of tarwblÈ flxed asse
Purchaseof 115ted Investfwlts
Pwth)S* of short twrn trrf¥*StM¢nt%
Interest reEviwed
0.0
(6.21
(32.3J
(261,5)
.0
14.01
0.0
16_2
132.31
1261.51
59.1
,0
14.01
13Q,21
Net <•sh in In¥qstlni artl¥l¢deg
1240.91
{24Q.91
Net decfeast In rash and c•5h equlv•len
149.4J
3585
1468
C3th W•d e•sh equi¥aleTrts at becSnfilns olyew
667.4
C•sh 4Trd t*sh ¢wlv•l•nts at •Thd of ye•r
618.0
667.4
617.6
661A
22

IIA TKIMAL RHEu￿TOlD ARTHRms SOCErY
i•trTES TO THE A¢C¢UNrs
FOR T￿ YUR ÉhtsÈO 31 DECEM8ER 2fy21
MatlMBI Rhè￿￿1•1￿ Arilw*s $¢x￿ty IS & prkalè by ID
Chartsts and Tr4¥fw Intrwlrr*rnl ISo)w th12CQS. lh• CbarA*8 Atojthlx R•]Wat]￿B 2[￿[0* 4m&rbl&gl WLI
"kn￿rry by Cl￿r￿S ol RK¢mrntndtd Prnfjbw lo cAurrth& I￿￿•1￿ Iher in
w4h R•pwbrvJ SiwHlwKI •ppl*ablè UK 4nd A•wl*c ot IMl8rAY {FRS 102r. 4
Bv*lrt Entrty ** d￿l¥ll ty FRS 1ryi
ar• IL> the rc
FwpBrtDès t*> IncibJ• I￿1￿j fi¥￿￿18 arbj tsrtafft at l•ir v•hJ¢ Tr prw41 ac•xwbry PJI
Prnpirllbon •1 G•n•trlIdal￿ fiwnchl slat•ffl•Trts
Th•M Gonwha•t•d staiemrthls [man￿1 itsterr*nts ol liw Chanty aThJ Il& Mdert•kiw,
NRAS C￿tsn1ty Lyftrled. vp 19 3108¢4mbef 2Q24 thterwnwrry tran8K#mo. balJrKes l￿d UNt￿l￿d gm
Ihe Clwrty rts •re eIn￿*d ol Jth*lL•ry undert•kU￿ hav•
dwr47gd rt•c•88•ry la •nsur* *llh I￿ pok•* adopl•J by th• Gtwp. Thi ir￿c￿￿• of IlK•
At th• ljmrj of apprw¥y ac£<ll￿ts, lh¢ TnJst••s fv•ve a feason*l* •xprfl•bon thii th•ity adw￿1# r•iArw t4
¢)FeraEM81 ex1%￿r￿¢ ih• for•8•e•l¥le lulure at tty12 Irom apPfO¥￿ ol Ih¢%¢ 5tto¥nts r
• b&JeO iryffjtrnen¢J and c•sh posthcffj. mll•cbry • fjwlfKanl arnount of unr•sWg¢ fund• tr
•cctsMrA.
1.J Ch•pll*bb• lund•
AF¥tybXed art •r• ¥afA1 ffi accOrd•r￿ spwnc re8trtlths d(#y¥
r￿d ty thtr th•rity for pvlKW•r ptjrpom. Tht eo1 Gl t•wg ￿mIn*fIr￿a such fund% •rn c*•1￿ a911n￿
ru￿. Th• alm arNJ pf 8Bch fund IS •vt In nole8 to sl•i•ffjw
1A IrbG•mlnB rwuvc
rv<x¥nt&ed thth th4nty ry 199Ify •nbll&l lo wy ffl•i
fèd rekably, &rO i i* prgts*lw th8L Inc￿* wil bt r•wrffjd,
CBah dtsn*titiw 4ry rryrggr%ffjed don4tiW¥ Tec¢>9nl￿J 4Ytt IM b•oD ￿1)1￿ & the
rblfijs ￿rfo￿￿T￿l reguiM d￿e￿al pl fv ¥rnounL InccfThÈ r*tovw*Jl• ￿ I￿￿1￿ ID 1¢￿1hxw Mekn*d urf•r
23

NATI0p￿ RHEUMATOID ARThRrrig SocErY
P40FESTL) THEACCOUP4TS
FDR T￿E YWI ENDEts 31 DECElJl&ER 2fy24
krw, 4FHI rec•pl il Thunl knfrhfi. th• trealqd al Vd fth15iWI ass
ThB <*arty QMnf¥ ffj T•¥>￿t ol &divilivs lh• £￿￿ty. lfictft* Inm w¥nlS w• r￿n￿•S ￿lI1r 4r&
tht ch*r*y •nIrtlofn￿t aéler any PtrtNm¥K• ha¥t tthl Il 0 I￿[￿*1• I￿11￿ inxn• ￿11 bt ￿l¥¥j
arity. f*C*•wd in IDf 1UPP￿*1￿ &vx¥J¥ ¥•r¥K•s r ottlef Its WKI whrb
0•1￿*• ytr¥ided nwnAI Iwsiws*. n•1 Old￿Coun1￿ VA T •nd ¢ther rf•1•d Eax•s.
IA It••wrf•• •xp•vthd
•%p•fvfthr• 1$ lor oft •ft *ttnAl* bm• Iw• ba•n ¢1oW*O urthr 11￿1 49feg4* •1 coèls rnl•lKI Eg
thTr ¢•fpwry wh•r• Is 8 *al at1w1*￿ lo mak• p4ymertt$ 10 paths.
cib*ly Ihal tho MI￿¢*nI *•ll b• r•4wwI •bWIl abthg•bw 1>• Th*41ur*O t*llabty. * i¥ ¢4LpJrywg urbJ•f
Ih rolthvlr¥
)Yw18•• 8).
rK4)vèr•blg VAT h chwwl •• •A •>p•fiM •9wthI Il* •cbwty
*dIr￿ls￿￿T￿l ¢0¥• They ¥e M ncurr•d dirncty lutherry Of1￿
m•J• tor Ilw)fj• costs rel•l#)g ta th• r•l•ry of Ivvth lo gevwnw¢•.
Tl* bBJ•I on <¢fv*B bmn &le*atèd *•1 wt h) N¢* •.
FuTrar•i#rrry •r• 5hthd In tlote 7.
E)P¥nth￿ ￿ ￿cl￿nt*d for orn •n baw8 haj been wNJ•r * Ihat wrtgalt rfit•d tq
24

NATlOrtAL RHEUhlATOID ARTHRtns $(KEtY
NDTES Tts Tr4E Accoufff3
FCIR THE VE4R ENDED 11 DECEMBER Z024
￿tt￿rrtI￿ PDle*•
In
4.8 Inurylblv •￿1 l•nBhbh taN•d
21PA itrtr)M IM pwhxl * sl
25% 1tr&¥)ht I
25% strltphl kne
FrA1LLtts. & equi￿1
Tmlw ol thè an￿1 ly roCOgnW kn T￿1 thctyrrfw•￿lllur•> y•w.
1.7 Imp•lrmw* of fix•d
ropw ei¥J d•ie. the tharity rtr•*WS carryww rfs t4r4ibl• •5¥ts ty d*lt¢rnine Wl￿1héff Ilw
wwjicalw Ihtsl thos• 8sws svif¢red ￿ ffipoiffrlent h)s8. Il iTraKalKin wxts, th¢ reojyorablo arn￿￿1
45s•11s •slThTt•LI ITr k* èll￿1 ol Ihtr •MPaifftWIl {K any).
l.• C•¥h •rxl c•sh •4ufr¥alw
cosfft IrK&J¢p c*¥ft In h4￿J. dwills hok14l ull tr￿ks, 4th•1 $￿n.1•rn IJY•*sblWJfits
t)r¥ml rn•t￿ts￿ ol thrw or 1•>3. •nd b•nk ovtsdrafts. Bwk Ovwdw4ft• •ro vrflyn t)orr•tyiNJJ n tufgtni
1.9 short E•m In¥••tm•nl•
••r.
1.10 lrntrum•rt¥
Tha hay elected t<> ¥ply pro¥isvis ol S¢ckn 11 Bast F¥￿ddI IMinllYwl•' and S•dkn 12 frw*?
lh• h￿IruMO￿L
Finarwl *sJtsts and li•l>tlrtth w• off¥eL •wJnu firw￿la1 slBlerngrfs, i¥ •
gnfort*abl& io oll tm wvj • •n to Uillle oft a n•1 th• •Thy
kètdrty sIMultar*￿Sty
5bipJiys • irws*hoft. whère I1￿ prwnl ol Ihe I￿11? focW5 4t
r41• ¢Jl IT*wrg*. Fin•rwI *ssètB dassme￿ •B *liiw amortm
25

MA TIOMAL RHELIAIATOID ARThRms 50CI
l¢OTE3 TO THE A¢￿U￿r5
FOR THE YEAR ENDED 31 DECEMBER XI24
BBait hblrtw. Inckkybig erKlits5 4fKI b￿k loo￿ Inib•ty unt￿&
• rnwk•l of *)¥tèsi pay4b* tYO nLI
Tr*d• crttlrtor* ar• pay lor s¢rvw 1141 boon •C4ukn•d in th• ¢)pMt&￿l frgffl
SUFpl4ir¥. AMI￿n￿ P¥rf4blp Jr• clas4i&d ¥ ew*tsl Wil0*6 Il Payrnenl is duv withkn lèw If rkoc I￿Y
pr*5th7Ied as non*rurr•nl la￿1￿*6. Tfioe rr•diw5 4r• tnnuckn pr*è 4r41 AI
1.11 Flx•d lryw••lrnfrfftl•
•9901 ffj¥•5frnntB Arè tsitlavy rn6•wr•d at Iwi8&ebM pK• •¥cI￿ling tran8a¢tsrt &)d4s. at• subs•]￿ntrY mo8wr•d
•1 lair v•bJo ￿ •ach I￿￿r￿a Chanw are wr4•d I1wnWI•XF￿VJ{•) for N ￿. TMr04C>2n
1.12 b•n•llts
Th* •Ay holKl•y •nbllwMnl is th• got￿ kn tathith •ef¥th rn¢¢fv*J.
•M¢tyMrrts 01 •n ampkny•• or ¢0 IvrniTral￿ benef*s.
l.lj L•u••
pay*lo urrfl•r oper*bry knKSJ• iry IM•••K•nty•W• f•cthYd, •1• ¢th•rs•g +)n 4 ba
rtr ol ihe
2 Crtiicol •cec+unfjrnL4 Mllmat•i Judp•rn&Thts
4rAiirryknRs •ttyyJI ￿￿y11¥ wrtsJN fA ass•l$ I￿j ilal nol r•WI aH)wtThl freth tAl￿r scwrr•5. Th
•rbJ ass￿1￿1•d a55￿p1￿* att ba*d on hlstml aril olt•r14c*n th•1 cmthf•d r•*vafflL AthAI
rèsults m•y drflw frtyn IP*e •>lm•t•¥.
i•coirwd ITr tho in *fib¢h ••kniale IJ revi￿d *t•r• ltr￿ *Yecls ffjty 9•rnd, ol lh•

TIO*IAL RHEVMV4TOID mRITIS SOCETY
r•DTE5 TO TMÉ AttDLIMTS
FCA? TME YEIR EI¥DED 31 DECEMBER 2ts24
453A
788.7
561,5
JXI40A
1,242_1
PAs¢r*red IwrKfs
.141 7
1342.1
LfoJl.9
4 Pft¢thknè thwl¢•bl• acllvlli
fyoup th*ity
23.3
16.0
105.3
217
29.2
716
Ilesefjrth Sluthes
GrarWJ
115.9
210,9
Nèitrtt•d fur¥l¥
4a7
J62.2
Zlthg
191_3
125.J
S Ixher Xt1￿
G*tyJg •ffld ¢hrfty
2QI4
202>
t¢rthrth 4nd tr4dlr4VlfCffi
14S
IP.5
4fpJ
2024
Kryro from Ilfftd Irrtstrr*r
knrET¢rt irKorn
30.2

IIt>TE5 TD 714 AryQUhTS
Ftm THE WA Iwtsltr •I tsÉCÉMBER
(hwb
1024
7A
42
iTr.J
117.9
Il.J
Il J
123
&2
1*0
J31A
1245
574
i)io
133.4
J4
2dl
293
1)17
73
*IY>.7
ol x¥wt cosrj iw• r41M YJ
2Y12
1>4
OfJ
Ji
&7
41SI
14J
1r¢i*d
3).4
301.9
00
OD
2419
to.
49.
LJ32 2
j.iiij
14LA

FOR T￿E IVOAO
2014
7A
242
17.9
275A
oo
12.3
ui
YYA
13.5
424.5
s?.4
77A
aB¢J
J37.U
.233A
10>.7
ri evk
E d gjpm COSts 9>
612
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191.9
1119
39
2Y7
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134
13.4
h%9
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415,3
745
2149
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1711
22.1
2fkS
41
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24.1
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51.7
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571.2
•36
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303
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51.7
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124
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46.9
2842
JVA2

orts TO ThE ACCOUNTS
FOR ThE YWÉ ENOED31 DEtthlkR 1014
11 EMpltyt*s
Mumb*r
Thl •VEf¥e mtrnthty oltnwtQYW5 the
All emL*yffeJ. Grw and Chorrty
30
30
The a¥rr4Ke numbwd I￿$.t}me¢qU￿knI 0fflpkw￿duf￿￿ yelf *41.,
l ernplU￿5- 6ft)up Chirity
26
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charty
1023
1023
Wate$ 4r*d J*l*l¢s
S¢csil securily
936,1
910,6
46.8
78.1
936.1
46.7
85.9
1.068.7
910.6
46
78.1
1,035
1,068.7
The t4xal DI reOwthrKY P￿rne￿5 mède by the C4xnp•ny in th¢ywr w45 £1.346121)23'. ￿.1￿)
lkn number ol empltyées who r¢ceYv•d 1014 ernp*e benefits (e*cl¥dlry¢fflplry¥tr wniiw cos1$1 ol more thJTr E60.IJKI is
s follo4￿.
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14).4
184.9
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IIATiofiAL 4vrHR11155<K
PIWE5 TO TME ACCOUMTS
#OR YbÉYE4R ENDED 31 DEUMBER2fr14
A1￿lu1[￿
11 IJM44 ￿de￿arIlY
T￿1
At JI IOU
4J
25
s&?
AI 31 DEcvnhr 2014
134.8
15.8
Al 31 Derember 2023
4LI
47.15
21.1
Dlwls
AI 31 December 2024
130.6
11.6
At 31 Eii¢wfvber ZOII
14.1
Al 31 Dxember 2023
19A
17
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2021
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LIK￿5
32,3
91ZS
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ot tsir thrwh profil or I
424
a55,Z
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hI￿lUred

14C)TES T¢tTHE AfCQUPIT5
FI YEAR ENt>EO 311)ÉCÉh*kÉA 2Q24
J6
n15 *•lllw &J•
?,0
17,7
0.0
337.5
i?,y
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75,4
JJ?.s
48
46
40
drtfl4x3 Irxlude E25.3k felèiiry tErrn thL1ry5 rK¥vable lft Wterth￿ ¥￿$
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20Z4
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2024
2023
T[￿+ crtdrt
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17.7
SS.7
7A
iu
17.7
55,T
25
44.2
33_1
12S.2
•7A
114.7
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DelerrEd kncc¥r* the dbwKlal ststements•i 101104¥S:
l J JIM￿ry
14to¥em•nt dur1￿ IhE ye•ff
131 Oe¢ember
[3.&
13.8
11 H•ik•rnMI b•n•fii Jthom
Jtherns
The Clhty owr•t•s I ￿hètht lor I114wMyln4 The 05*ts Icthe￿
thiryÈ its loss ol dofjned<OMrlb￿ w*1 É46.Th12023'. £4&lk

INE￿AT￿￿
IIS TO THÈ Accol￿$
YEAR EIIDt¢* li Ol¢ÉpAIÉII 2ts24
l•nu¥ry 2014
1034 aoa
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13A7J
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20
2021
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375.0
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L•lg,1
L•97A
1024
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11.4
14.81
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11.41
AJ
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24
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136.fii
2023
i*
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15.11

NAiIDfw IiiiEWTOIts ARTHRITIS SOCIEr
riDTE5 TO THE A¢¢OUNIS
FOR THE VÉAk E*ItsED 31 DECEMBER 1024
Fund at 31 DtÉ*thr 2fy24 •r•f•pfow•tod br.
p4.8
LQ¥J.Y
28,
I,1)39.a
CwT¢rrt
20,1
1.02LJ
2W.4
Fund •t JI Ci•E•fflbw IOZ3 ** r*w•s•nW bv:
Toi
36.9
L4IJ&5
9721
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952LI
IJ97A
lJJ17,4
fttstrt¢ted urtrtKrk￿d
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Fuhd bal￿5 4¢ 31 Dwember 1024 br.
T3nthbt Irxed 4Mets
28
Im3.3
897.9
J.Q93.3
Cwrnnr a$5oisllll•bifftF¢sJ
21IA
lQ26.0
IL116.1
rund bthrK•s •t 31 ￿tt&￿ber 2013 r•pr•wnied bv:
R4StrI¢l￿ ikrfostrlcltd
T¥ng￿le knd assets
InvutrhÈnE5
C4Mreffll
36.9
I,QXX.5
gS4.7
36.9
974.7
20.0
cw.I
1020.1
11 under f9￿15
At fep)rtlr* *nd the Onrfl ehorSiy had cornrnftments for luturt nkn¥num
nd￿ non•rK•ll•bJ* opwa* 4¥hkh f*ll 15 f(kni
2024
1023
lthln
47.6
t4vo IE¥e year3
y¢4
17_9

HITIONAL •HEUktAttsD ARTHRMS WEr¥
NOTES TO THE ￿0(￿P￿S
FOR YEIA El•DW 31 LIECEMBER 2024
21 SubJMW rprnpony
Ihapfty 044flS th¢ wholE of tFhE ts&u￿ Ordin•ry 5h4re c4ptsI of NRAS CthTwnlty st￿CeS Ltd Icompaty
rtunthÈr.' 895)24 jl, a comparty re61sf¢r¢d * en¢•nd. Thé Sub*ithary Is wqd for ￿￿-￿IMarY Purp05¢ tr•dtr¥ 4ctFvltle5.
All 4tt14*ltlES bt*h Dn a kne b•ys In tho *atemeM ol fkn*nciJl •ttr*ltlq5,
A swrtrr¥ry of tsl th* 15 ￿1C￿.
24
ID13
Twrth*r
Cost 5o1ES
Gross prrfil
0.0
l*t prrf
ID.J]
Attal￿d qarn*p bro￿ht Its￿•rd
Glft •kl to Niih)Ml Arthdtls Soclety
Réuined e4rnlr45 carrled for￿rd In sth*Jwy
11,7
iuj
L7
11.7
T￿ uspts lia￿lIE1t$ werE'.
The *8Vryèt• ol the 45sets. f*￿1111$ Ind fvftd5
biiifies
Totsl net assets
13.11
11.7)
ii.?J
cal￿ ￿ shareupiul
Prolli and loss
0.0
12.
(2.71
13 Ild•i•d yrty tr4nJ•ttlty
w•re fftlated p•rty ¢rafftSa¢iths In the year12023: nll r•qulrfTht dlthwe.
Iq C•plld Commllrnen
A5 il 31 Dtten*xr 2014 Ih? Chartty had ￿P￿lI ¢omTrthTrts ol Éfil12023: Énll.
36

NAnoNAL RHEiIMATOIE• AknIRm5 5IXIETY
NOTESTOThE ACCOUPfS
FQR THÈ VEAII ENDED YI DECEMBER 2Q24
2S C*1 Irgrnl Iu5ed Inl QP•Walipn5
Charftv
2024
1023
2024
Svrplu51 IIDssJ for the ￿ar
Adju51men15 for,.
lrtwtstrnent lTrcorfw rt*ni5ed in profft Or loss
F4tr w*￿ 6aln5 3Thd 1gtse5 on •iivestments
Gilt •id dunatlon ffwrt Sub5ithry
Depre¢iarioTr and imp*rYrtent of intarylbk fix¢d 455et
Depte¢iatiDn and Impairmtnl of tan#ble fix¢d as%e15
I￿￿em¢n￿l￿ ¢aptcal',
Ilncreas¢V deirease Indebio
IKreasel Ipjecreasel In uedlltys
403.9
26.0
(59.11
(58.5J
134.7)
{59.11
154.51
134,71
165,8]
21.3
14.3
33.6
18.1
21.8
14.3
i&1
274.S
{27_8)
16.11
9.0
2769
1273
16.11
C•*h Inl oper*&tsns
191.5
358.0
194,1
359
16 Anilw3iS vl th￿8*$ In n•1 l(•nd%
Al start of
Cash flow+s
At end af
ir
Cash and ush tquivalents
667.4
14>.4
618.0
Tot•1
667.4
{49.41
61&0
37