2023-12-31-accounts

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A Charlty r•glstratl•n nwnb•r 1190352 Company r•glsll*th￿ Trwnbor CE028676 (England •nd W•lo$1 MORTGAGE ADVICE BUREAU FOUNDATION ANNUAL REPORT AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trust••$ Mr Petsr Brothw(i Mr Benjamin Mrs Lucy Tiley Mrs Alison Crosy Mr6 Esther Disl Mrs CarcATh Hll ppoinled 26 June 2024) Charlty numb•r Comp8A)y numb•r CE028676 Reglgt¢r0d ¢)ffi Prle P￿k DE24 8QR Ind•p•nd•nt •xamln•r Pride P tE24 8HG

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION CONTENTS P•0• Trustees rep)rt lThJependent exrnrfs reiNt Statemenl of f￿aTri81 li¥ibe8 BalanG¢ sheet Notes to the ffinwKial staleffl￿ 8-13

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEAIBER 2023 The trLtsès wesènt the annual rwt Statern￿ yw ended 31 Decernber 2023. The financial slatements hav• b8en pr•par•d thi acC)r￿ %•ilh the 8C4>xJnting F￿l¢leS sel out in note 1 to the financial staten￿nIS and cOn￿ty Founds￿n,$ consliluth)n. the Companies Aci 2￿)6 and "ACc￿nI1￿g an¢J Reportin9 by Charl￿"e$.. Stalwnsnt of Recornffle￿ Pradice wlicable to thaiities prepariThJ Ihew aeeounts in ordance wth the Fiwn¢ial Reporling Stwdard appl￿ in the UK and Repubh'c of Ir•Lqnd {FRS 1￿21. (effective 1 J￿uary 2019). Objoctlvw actl¥ltl•• The Foundation's tharitable obje(lives a￿ to Jv•K suth charitable pUry￿ses laccordry to the law of England d Wal•s) lor th• Publ￿ benefrt as the Twstees see ffl frcffl time to lime. prwnarity by woviding grants WKI ¥olunta•r suppjrt to charl1￿ wdlor otlr org8Thsabcffls wrfh a partKular focus on laNh and wellbeing, the ygvenlion of poverty and c4Jmbating the efferas ofdwnate cknge. Our vis)n is lo our staff, busirw partners ￿$t￿nerS 19 ccrfn? logether to t￿ale issues of Icul import8nce by supporling the initiatTr￿S thou￿ grant lo Wl ¢haribes and crynmunty groups. Our miss)n is to delNer £1m ofgMt fundiThJ M the next S year> Publk bpnefit The Tru8tee$ Conffirm that they have compked Iti￿r OJty to have regard to the VIan￿ on publ￿ benefit publi8hed by the Charity Corrrfnission in exercts￿ thr prrers and dub'es. The Foundati￿ supports chaiibes. 8ThJ Qymwnity inltrest COM￿leS a(¥oss England. Scottond, and Wales prinupally through fin￿￿al grants for speofic wojecls. &ants frryn £5(M) to £5.(K(J ar• made on a rolling basi$ throuthoul Ihe yèar. The TnAt¥¢$ have Aty to awd l¥ger sh￿Id see fft to th) x). Funding 1$ limited to a m￿M￿M 01 £5.(KQ or 75% of Ihe total woiect cost lthth1ch￿er is fv lesser). The tharity or CIC vill need lo raise its shwe of the prcieci cost hjr th8 gr￿ to tje released. ExwtKJns I￿n be made at the Twslees th'smt¥Jn. The Foundation has partne￿d with CrrA¥dluThr to rovide a platfwrn for au our PToierAs. Tlw help assess the caritable status of the project wovKle a tr•1 of ￿ndS raised for money Laundering wrposes. The FourKlation has enter•d into a 12.rTrJnth conlr¥a Cfcwdfuntsto wvide this servTh. There are irKorne lifflits on orywmsations 8UWted. ixrt the f￿S is on supporfiNJ ththerever posS￿e smaller, kjcal. grassroots organtsalions Ihal are vol￿teer kd. Th• Found8tK)n 8180 wtrk$ in partnershp with MortgwJe Athlice Bureau LAnited and its netwth of ￿sInesS partnef31o suppcfft wmmunty prciects through vo11mkww￿. The Foundation helps coordinaled 9rthrp ¥ohJnlttrw¥ thrthtyl￿t the year and is SLVPOrted by Mortgage ice Bureau Limi¢ed pro¥i¢l0 851 hwl Olfi￿ stsff wilh 2 days of paJ 18ave to thixk wth th8s8 local charities.

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION TRUSTEES REpoirf (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 310ECEMBER 2023 ant making poky r•nt maklng pollcy The Trustees ensure woper govern￿￿ ofthe FIXI￿al￿￿'S w-mng in Ihree ways. al Through grant-making principles which erwre that. even kn4we thwe ts dtsnty N funthng partner involvement. dec4sbns are ultimalely m￿e by the Foundation's Trustees. b} Through published grant-making eriteria whith s•1 th8 aL¥ths thè Trusteeswth to supW in furtherance of the Foundalion'3 charitable objectives. The ryrterkq also indude athitios the tru$lee$ rKt wi$h to support because they do not CQThKler them to be ￿ liie the F(MAvJakn's pwpose. c) Thicwjgh grant4making W￿sseS vthith set ¢yJt htrAT dets8￿ We reathed for awar(ling gronts frcAn dtffor•nt ty￿S of funds at the Foundat#Jn. A¢onY￿lttfje m•Je up of 8 iThJ¢pwwJont knJr4Klu from V4tygeAthice Bwu Limite¢Xs business partners and led by the Chief Exe￿ has been d￿l￿at￿￿ reSpons￿￿ty K#lial assessment of all granl appl￿tiOn￿ Each application is first scored using an a55es5ment rufit. wlM¢h assesses the appkcat1C￿ against fwe uiteria.. - Focus125%) - Impact125%1 Risk120%) - Organisation120%) Sustainability (10%) Scorès arn ta￿lated. and awlications further revie¥nd by the Tnjstees wior to a fffjal fund1￿ der￿￿On. The Foundalion operat¥s a tWSPgrent to gr•)t makin9. * all grants made are listed on the FOUr￿atiC￿.s website. The FourKSation raises in()Jme by fuTrJrai5wvJ AdvKe Bweau Limited and tI￿r •mploye8s, suppIK•rs and business partners. 11 is cLJmmitled to best wthi¢e in 81 fundraising al￿{￿￿]￿s, in line th th• Codè of Fundraising Practice and tt Fundrws¥ty Promise. No C¢mplau￿ h•v¢ been registered wilh lh¥ regulatw against th8 Foundatm in Ihe year LThJer re¥iew.

Docusign Envelope ID: B2A58F7E-B751-4500-A420-8810CB509C4A

MORTGAGE ADVICE BUREAU FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

Significant activities and achievements against objectives

The Foundation was awarded charitable status in March 2022. It continues to review its grant making policy and has made changes to improve its outcomes throughout 2023 which include:

• Increasing the maximum contribution it can pledge to a project to 75% of the project total

• Registration with the Charity Commission of Scotland and Northern Ireland

- The introduction of tranche funding, issuing a fixed amount of money with a fixed end date for charities to apply for. All applications are then reviewed at the same time. and the money is divided according to the Foundation Committee's assessment of each project. This allows us to award grants to the most appropriate projects in accordance with our charitable purpose

Fundraising

Total income for the year was £83,483. Key achievements relating to fundraising included:

- Golf Day at the Leatherhead Club

• Raffle at Mortgage Advice Bureau Limited's National Sales Conference

• Generated donations from several corporate partners through the 500 Club

• Funding donated from Mortgage Advice Bureau Limited

• Fund raising events taken on by our staff e.g fun runs and half marathons

The Trustees would like to thank everyone who supported the foundation throughout the year for their kindness and generosity.

Grant making

In the period to 31 December 2023, the Foundation issued grants totalling £41,265. In addition £84,319 was raised on the Crowdfunder platform from individual donations and goes directly to the projects.

Community projects and volunteering

Across the year several community projects and volunteer days were also undertaken to support the following organisations:

- Bridge the Gap

• Derby Kids Club

Financial review

The Foundation received a total income of £83,483 during the financial year and ended the year with £26,341 cash at bank. Total operating costs for the year were £10,480 with an event expenditure of £41,265.

The Trustees have agreed on building a reserves policy of £10,000 to be always maintained to cover operating costs in the event of a shortfall in fundraising or in the unlikely case of the charity winding up. Additional funds held over this at year end will be allocated to the next round of grant awards.

The Trustees consider there to be no material concerns for the Foundation's ability to continue as a going concern. With the initial phase of the Foundation's regulatory and operational framework now completed, Trustees are optimistic that the next financial year should see increased financial performance and a higher level of grant making in relation to other expenditure.

There are no funds or subsidiary undertakings in deficit.

Docusign Envelope ID: B2A58F7E-B751-4500-A420-8810CB509C4A

MORTGAGE ADVICE BUREAU FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Structure, governance and management

The Foundation is registered as a Charitable Incorporated Organisation[(] CIO[) ] in England and Wales. The governing document is its constitution, dated 15 December 2021, which sets out the Foundation's charitable ob[j] ectives.

The Trustees who are appointed at the date of signing the accounts of the Foundation are set out on pa[g] e 1.

Apart from the first Foundation Trustees, every Trustee must be appointed by a resolution passed at a[p] ro[p] erly convened meeting of the Foundation Trustees. New Trustees are selected for appointment by the existing Trustees, with due regard to the skills, experience, and knowledge needed for the effective administration of the Foundation. Appointment of Trustees wherever possible must provide for at least two members of the board (or one third, whichever is greater) to be external of Mortgage Advice Bureau Limited and its subsidiaries. The current board is comprised of four Trustees from Mortgage Advice Bureau Limited and three external members.

The Trustees meet[q] uarterly and set the strategic goals for the Foundation, including the selection of grantees, strategic charity partnerships, and any external promotion. The Trustees retain res[p] onsibility for all[p] olicy and decision making. Daily management of the Foundation is undertaken by the Foundation CEO.

ear. No Trustee received any remuneration. benefits, or expenses in the financial[y]

Mortgage Advice Bureau Limited is a related party of the Foundation and provided goods and services of nominal value without charge, along with the use of office space, IT equipment, and other sundry items. The Trustees would like to extend their gratitude for this support in kind.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr Peter Brodnicki

Mr Benjamin Thompson Mrs Lucy Tilley Mrs Alison Crossley Mrs Esther Dijksta Mr Simon Frankish Mr Fabien Holler Mrs Caroline Hill

(Resigned 26 June 2024[) ] (Appointed 26 June 2024)

Recruitment and appointment of trustees

The Trustees report was approved by the Board of Trustees.

Mrs Caroline Hill Chair of the Tr"'-te a 29 October 2024

Date: ............................................ .

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION INDEPENDENT EXAMINER% REPORT TO THE TRUSTEES OF MORTGAGE AOVICE BUREAU FOUNDATION I report lo the Iru8tee$ on my ex8mwwthM of the Stat￿￿￿ of M(xlw A¢fvti Buwu FouThJalKn (the Fo￿datI￿) for the year enthd 31 Decents 2023. R•8ponslbllltlo5 and basls of r•port As the trustees of Ihe FourKlalion (and al￿ 11$ the pu￿Se$ of <x)mpany law} you are ￿spon￿ble for the preparation of the financial 8t8tementB Vl S¢¢￿d￿ th the requyemenls of the Com￿leS Act 2C(fj (the 2(￿6A￿). Ha¥iThJ satiSf￿d myself Ihat the financial statements (rf the are Thjl reqwed to be audited ￿der Part 16 of Ihe 20C6 Act and are eliuible for iThJependent exa￿lnat￿￿. I repori in respect of my examination of the Foundatlon'$ financial stalements caNied CNJI under Sec1￿ 145 of ihe Chwrties Act 2011 {the 2011 Act). In Carr￿ng oul my examina11c￿ I ha¥8 folltr8d 81 the DYeci￿A by th& Charity Comrniss¥)n und8r $8Ction 14515)Ib) of the 2011 Aet. Ind•p•nd•nt •xamln•f• •lat•m•nt I h8ve o)mpl•téd my èxaminalh)n. I CLM)f¥m no maitors ha￿ coTh to my att•nl)n n connaction with th• ekaminatitin g￿ing m• eaus8 to bèlieve that in maknial faspeLtt." accounting re¢C￿dS were not kept in resFd ofthe F￿ndatiC￿ as reyed by secthon 388 of the 20￿ Act.. or the financkal statements th) not a(xord Ihose ￿ c th¥ ffinarria stat•m•nts do not conwty with the acoJmtir¥J rewrèments of $8Ctx)n 396 of th• 20C￿ Act oth•r than any requiiernent that tho attwnl$ gi￿ 8 tn f¥ whi¢h is r)1 a matt¢r ¢onsthr8d •$ part ofan indpperbJ¢nt ￿MMi31￿)n'. ¢ the ffin8llCtal statements haw Th)t ten prepared in xe0rdar￿• Atyth Iho methods and prinaples of th8 Statemént of Recommended Practice for accou￿￿79 aThJ reporbng by charities applicable to charities proparing their xcounts in a¢¢ordarKe with the Finan￿al RetthiThJ SlaThJwd applicatle In ￿ UK and Repvbli¢ of Ir¢lan¢J {FRS 1021. I have no cOn￿m3 and have come 8tr088 no 0￿er mattws tn ¢X￿nedTh wlth thé •xamiia140n to vthich 8tlenlron should be drawn in this report wi wler to en81)le a Fryer of th? fin•Kial slalernents to bg reached. A,, e PKF Coop•r Llmknd Prosp•ct Hous• 1 Prospect Hace Pride Park Derby OE24 8HG Oated.. IE C)etrAWZ

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unmtrfthd Unrn$trkt•d I￿￿5 fvnd$ 2023 2022 In¢omo from: Donations and le9￿ 83.483 29,843 Total In¢om• 83.483 29.843 Exp•ndltur• on: Chariiable adivi¢igs 51.646 12.738 Total Oxpondlturn 51,646 12.738 N•t Income and mov•rMnt In funds 31,837 17,105 R•¢on¢Alatlon of funds: Fund balances at 1 Januwy 2023 17,105 F￿d bal•n¢•s at 311)K•mb•f 2023 48,942 17,105 The 8talemBnt of financial acti￿￿e5 indudes al gain5 and losses rtcogntsed Ai the year. All Income and expenditu derive from eortwiuirg aLaivil*s.

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION BALANCE SHEET ASAT31 DECEMBER 2023 2023 2022 Flx•d ass•ts Intangibk assets Tangl￿? as8915 10 11 16.KK] 21,60) 16.850 21.663 Curiont au•t• Debtors Cash al bank and n h 12 7.671 26.341 3,613 20.055 34,012 Cr•dltorn: amount• f•lllng thJ• wlth y••r 13 {1.920) 128228) N•t curront aS￿lIabIllIo•S￿ 32.092 (4,5581 Total a••ts l•M ¢urront114blllllo• 48.942 17.105 Th• lunds of th• FO￿datIOn Unre8tricled fvnds 14 48.942 17.105 48.942 17.105 The conwny is entitkd to the exemption from the audrt r8(w•nrt in s•ction 477 ofth• Compani•s Act 2￿6, for the year ended 31 December 2tr23. Th• dirédors ad(ncwledg• ther r•sponsiblils kn crytying with Ihe rew1reTh￿ts ol the ConyaThBs Act 20L with rosped lo a¢￿Unting rectyd$ #nd the prewa1￿ rj finarwl statements. The rne￿￿eTs have Th)1 required the to otAain of ts Ikw)pal stotsments lor fv y￿r In qu¢stlon In aeoNdance with seth'cffl 476. Thes• fmancaal ststwn8nts hav• a¢c4ydwts th• wli¢8blt to ￿mpaNeS subject to ths smal ¢omwi&s regim&. 29 october 2024 The financial statementswere 8Fvo¥ed by the tntstees 4)n ........................ L IItL Mr$ Caroline HIH Chalr of Tru$t••¥ Conwany registrth¢M nurthr CE028676 (El￿ V4*s)

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION MOTES TO THE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 310ECEM8ER 2023 Accountlng pollcle¥ Charlty Infomiatlon MortgageAdvice 8ureau FoundatN)n is a Wb1￿ benefft ￿tity a wistered dwrily incorp￿aled in England and Wales. The registered oifKe is Ctyi￿ H￿￿0. Prnle P. Piide W Deth. DE24 8QR. 1.1 AcCow￿1n0 con￿nt￿)n The ffinanual statements have been Prepared ￿ aC￿rda￿% wrlh the Fo￿￿8110n.$ govemirwj document. the Conwanies Acl 2006, FRS 102 The Finan(¥al ReF)itry s￿ftdard appI￿abl• In th• UK ar#J Rapublic of Ireland" fFRS 10T) and the Chwities SORP -Accountvry 8rn1 Rewtiig by Chanli#$: Stal¥nènt of RecommeThJed Practice apable to thariiies weparing aczowts in accordance wth Ihe Financial R&wrting Standard appIl￿ble in the UK and RepuNic of IrelaJ {FRS 1021" (effective 1 Januwy 2019). The Foundgtiw 1$ o Beneft Enlity a$ def￿d by FRS 102. The F¢)undation has taken ad¥anlage ofthe pr(￿￿ in the SORP for d￿lItIeS not to p￿pare a Statement of Cash FI￿$. The fmanrial 81atemerrtS are prepared n 5terfry. is of Foundation. Monet amounts ￿ Ihese financyal Ststements we rrAmded to the nearest £ The fir￿nC￿l stalements have been Fwar&J under the IM51crfical c>)st tr)nvention. The prlrKapal ac£ounllng polides adcyted are set OLrt belcwl. 1.2 Golng cone•rn At the lime of apw0vl￿j the ffinanclal statement5. the twstees have • W$￿#bI@ wèctation that thè Fo￿datiOn has adequate ￿sOurc&S lo ￿￿t￿ue in Opera¢k)￿ existerKe for Ihe I¢)res￿able firture. Thus 11 trustees continue to adopt the goiThJ C{￿ basis of aCc(U￿1ng in preparing the ￿an￿￿1 slatemenl$. la Charltabl• f￿d5 Unrestrided funds a￿ ¥vailAe fty use at th• discr•lb)n d th• Irustees in furtherancA of their tharTtable objticti¥•s. 1.4 Ine4)m• Income is recognised when the Fou1vJat￿ is legaly enlTlled to it after any perfcrfm8nce ex•nditws have b•&n meL the amtyjnts can be measured Teliabty. ￿ it probat4e that irKome will be received. Cash donations are recognised recepL Olher donal1￿ a￿ recfjgnlsad thè Foundaticm has b8•n notified ofthe donation, unless pe￿Mar￿ condh)ns rewire delwal oflhe affl0￿1. 1.5 Expendmwe Expendilurp ts rewnis￿ 0￿¢ Ihere is a Lv ¢t￿truCtIVe obligation to transfer economic tenefft to Ihird party. il Is probable that a transfer of e¢￿K￿￿¢ ￿efitS be reqLred in settlement. and the amount of Ihe obligation can be measured ￿lImY. Expenditure is dassifd by activity. The costs of actmty ¥¢ made up of Ihe lotal of di￿￿ ￿$t5 and shared costs. ￿d(￿Jing SUPFW)rt cosls irwow in WKlertakng eac adryrty. Dved cos15 atlribulablg lo a single adivity are allctated directty to Ihat adiwty. Shared costs which c4)ntr￿Ule ¢0 rrnjre than ong activity and $uppori ¢osls whith are not attrib￿at￿e to a Sing￿ actrlryty are •portioned btheen those a¢liville$ on a basis (M)slstenl wlth the use of reS￿reeS. Cenlral staff costs are alocaled on Ihe basiy of tine spent, and charges are alkxated on oflhe assefs use.

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION NOTES TO THE FINANCIAL STATEMEMfs (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 A¢¢ounlkn9 po¥d {Contlnu•dl 1.6 Intsnglbl• fix•d ¥s••ts other lh goodNIII Intangible assels aCq￿red sep¥¢ly from a busww a￿ ¥¢¢ty¥sed at Ca)St and are ￿Sequent￿ m8asured IntangJl• assèts on I￿￿8$$ oth)inalKJn¥ are recowi5ed separately from g¢￿￿11 at Ihe acwisrtion dat• whwé it is pmbable Ihal the expe¢Xed economic benefits that are attrlbutable lo Ihe asset will fl¢)w to th¢ and the fair value ol the assel can be Th88wed reliabty.. the lntaThJ1b￿ asset arises from oy)trual or other legal rW5: arKI Ihe ￿'ble assel is separable from Ihe entty. Amortisathon is reco9nise(1 k off the o)st ty ¥Ju•tiffi of assets less their reshjual values over their useful lives on the fo1￿1n9 bases". Sofhyare 1.7 TanglAo fIx￿ ags•ts Tangible fixed assets are inrfialty measur•d at (a)st and Sub$ery￿ty measured at cost ￿ valuafhjn, net of d8pre¢ialwJn and any imp•rment hJ8se¥. Depreciation is recognised so as to tAYita off ts ¢ost ty ¥alualb￿ ofos8•ts less tlw re8idual values over their useful INe$ ￿ the folkn￿.1¥j bo$8$.' Pknl and ewvment The gain or loss arisry ￿ the disp)sal of ￿ assel is ￿tern11n&J as the differ8ne• be￿•n Ihe sale Pr￿eedS and Ihe vabje of the asset. and is reco3ntsed in the stat8ftxnt of fin)cial ath¥ibès. Crltl¢o1 •¢¢<wntkno ￿th￿&t? and lu(19on In the application of the Foundaip)n's &cx)untiTrJ Fdies. tt￿ trustees ale reqLl￿ lo make judggrnents, estimates 8rKI 8ssumptKJns #bout the wying ￿nI of assets aThJ liabillties Ihat a￿ ￿t readily apparent from other source8. The eslimates and associated assumptions we based on hislorical eXr￿nCe (rther factors that we C￿sidered lo be relevant. Acaual may Irom th￿ 8StThatès. The estimates and underfwng assuinplions ￿e rem¥ed cffl ￿ wing basis. R￿lS1On5 lo aco)unling estirnates are recc•Jnised in Ihe pefKJd in which the estim 1$ revised wlwe the rOV￿1cM affects only Ihal In¢oM• from d•nallon• and Unrnstrlel￿ Unr•$tsl¢t•d funds lurMIs 2023 2022 Donations and gifts 83,483 29,843

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Exp•ndltUT• on charStabl• actlvltl•s Grant maklng 2023 Grant maklng 2022 Dlrnct costs Pledges 41.265 ,139 Shor• of Suppryt #nd go¥•mabX• eosts noi• ¥ Support Govemance 8,461 1.920 2.511 51.646 12.738 AnalyJis by fund Unrtslrided frjrtds 51.646 12.738 Support •loc•tod to ttllvlu 2023 2022 Depreciation Website Costs Bonk Charges Prinlng and posts General expenses Plalfoffli thwges Goveman¢¢ ¢osl$ 4.813 201 10 2,418 937 1.920 2.511 10.381 8.$99 An4tyts•d b•tWO•n: Grant making 10.381 8.599 Not mowm•nt kn lund¥ 2023 2022 The net movement n funds is s&￿e￿ after chaT&1￿(1￿&￿tTrJ): Fees payabl• ind•perwJ•nt •xamYAtion oflh• finaThi statement$ Depreualion of cAYned l￿gible ffixed assots Amortisalion of intangbie as6ets 1,920 16 2,400 13 NO￿ of the trustees (or •y pewns wineded wlth I￿) recewed any r￿Muner*i0n or benefits from Ihe Foundation dunng the yeeJ. 10-

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EhlDED 31 DECEMBER 2023 Employ••s The average monlNy numbw d empwes dLfVWJ the yearyas.. 2023 Muml)•r 2022 Number T￿•1 Theffj were no ¢M￿OYees￿￿m annu* reMUwat￿ w nmye than Taxatlon The charity is exempt fTom tsx aThJ g•ns ￿th￿l seclion 505 ot the Taxe¥A¢t 1988 OT se¢tw)n 252 oflhe TaXatIc￿ of Chargeable GainsAct 1992 to the extenl that Ihese are appkd lo rts charitable objects. 10 Inlanglbl• fix•d a$wts Cost At 1 January 2023 and 31 December 2023 24,ClXI Amortlsallon and InwIM￿ At l January 2023 AJn0rtisatiL￿ ch￿1 ftyth¢ y 4.8(X) At 31 Decertjer 2 7,200 Carrylng amount At 31 DeceThi)eT 2 16,8fy) At 31 Decertjer 2022 21.600 11

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Tan9lbl• flx•d ass•t8 Plant and Cosl Al 1 Jawary 2023 79 At 31 Decenknr 2023 79 D•pMebatlon and Impalmwnt At 1 January 2023 Dewecjation charged in the year 16 13 Al 31 De¢emb&r 2023 29 Crry5ng mount Al 31 D¢c¢mber 2023 Al 31 December 2022 12 Oebtors 2023 2022 Amwnts falllng dy• Twtthln on• yMr Ot￿r debto Prepayrnenls and aoyued i￿> 7.671 145 7,671 3,613 13 Cr•dltors: amounts fallhw wlthln on• y•ar 2023 2022 Other creditors AcCrU￿S and defe￿ed income 1,920 28226 12-

Docusign Envelope ID." B2A58F7E-B751450(kA42(k8810CB509C4A MORTGAGE ADVICE BUREAU FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 14 Unr•strlcl•d fund• The urffeslrthd fijnds oflhe th¥Itycomwi￿ the u￿p￿ded tsala￿e$ of donat￿n$ and grants whi¢h are not subj'ect kj speaffic conditi)ns by donors a)d Lwantots as to hth¥ they may be used. These include desi￿ated 7Athieh hov• b8•n set a#id8 out of ￿￿Sti￿ed IwKls by tW8¢$ for 8pecrfi¢ pwpose8. At 1 Janywy Incomlng RMouTc•s At31 2023 r••¢)urc•• •xp•nd•d D•c•mb•r 2023 Genernl fund$ 17,105 83.483 (51,6481 48,942 Prnvlou$ p•riod- At 1 January oming R••ourc•s At31 V•soUrc￿ exp•nd•d OK•mb•r 2022 General lunds 29,843 112.738) 17,105 15 Rdated party tran￿B(lon$ At the year end. the foundakn had a dèbtor owlig from Mortgagè Advice Btrnau Limi￿, a eompany which the Trustees are also th￿CtorS. tolallin9 £NI 12022". £3,468). ￿ fouThJa1￿n also owed Mortgage Advice Bure￿ Linited £NII (2¢Y22.' £26.3W k) respecl ofepen￿ Iheir b¢lk4lfduwing the yeai. The foundalion r•cnted £57.835 in th)nalions fmm MtypAd¥ic• Bureau L#nit•d during the year. 13-