ACCOUNTS - Final Accounts

An analysis of turnover by class of business is as follows:

Registered number: 00211587

	DIRECTORS' REPORT AND FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2025

	THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

COMPANY INFORMATION

Directors	D A L Clasen (appointed 1 January 2026)
	C S M Frijns
	O L Meredith
	J Mew
	S P Michaelides (appointed 1 January 2026)
	R C Patel (appointed 1 January 2026)
	S W J Woodford
	J M Allan (resigned 26 November 2025)
	P J Bainsfair (resigned 1 January 2026)
	C P Combemale (resigned 1 July 2025)
	K M Jacob (resigned 26 November 2025)
	A King (resigned 26 November 2025)
	S Merali (resigned 26 November 2025)
	M J Payton (resigned 26 November 2025)
	P A Raby Smith (resigned 26 November 2025)


President Company secretary Chair	A Bellini (until 19 February 2025) A Vidler (from 19 February 2025) Danielle Wilson C S M Frijns


Registered number	00211587


Registered office	5th Floor
	95 Aldwych Strand
	London
	WC2B 4JF


Independent auditors	Menzies LLP
	Chartered Accountants & Statutory Auditor
	Magna House
	18-32 London Road
	Staines-Upon-Thames
	TW18 4BP


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

CONTENTS

	Page
Directors' Report	1 - 2
Independent Auditors' Report	3 - 6
Statement of Income and Retained Earnings	7
Balance Sheet	8
Notes to the Financial Statements	9 - 16


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors present their report and the financial statements for the year ended 31 December 2025.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.

Principal activity

The Advertising Association promotes the role, rights and responsibilities of advertising and its impact on individuals, the economy and society. We are the only organisation that brings together agencies, advertisers and their brands and media to combine strengths and seek consensus on the issues that affect them. Through wide-reaching engagement and evidence-based debate we aim to build trust and maximise the value of advertising for all concerned.

Business review

The Advertising subscription income for 2025 was £1,835,032 (2024 - £1,794,591), with other operating income of £1,527,493 (2024 - £1,411,719) making a total of £3,362,525 (2023 - £3,206,310) Against this expenditure for 2025 amounted to £3,356,080 (2024 - £3,217,000). For full details of the Accounts and Notes to the Accounts, see pages 7 to 16.

Page 1


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Directors

The directors who served during the year were:

C S M Frijns

O L Meredith

J Mew

S W J Woodford

J M Allan (resigned 26 November 2025)

P J Bainsfair (resigned 1 January 2026)

C P Combemale (resigned 1 July 2025)

K M Jacob (resigned 26 November 2025)

A King (resigned 26 November 2025)

S Merali (resigned 26 November 2025)

M J Payton (resigned 26 November 2025)

P A Raby Smith (resigned 26 November 2025)

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

................................................

S W J Woodford

Director

Date: 13 July 2026

Page 2


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ADVERTISING ASSOCIATION

Opinion

We have audited the financial statements of THE ADVERTISING ASSOCIATION (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, including a summary of 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:

∙give a true and fair view of the state of the Company's affairs as at 31 December 2025 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 directors' 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 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 directors 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 Auditors' Report thereon. The directors are responsible for the other information contained within 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. 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 this gives rise to 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.

Page 3


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ADVERTISING ASSOCIATION (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

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

∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors 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 directors 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 directors are responsible for assessing the 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 directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 4


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ADVERTISING ASSOCIATION (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

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 Auditors' 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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 Company is subject to laws and regulations that directly affect the financial statements including financial reporting
legislation. We determined that the following laws and regulations were most significant including the Companies Act 2011, the Employment Rights Act 1996. the Health and Safety at Work Act 1974 and the Data Protection Act 2018. We assessed the extent of
compliance with these laws and regulations as part of our procedures on the related financial statement items.

∙We understood how the Company is complying with those legal and regulatory frameworks by, making inquiries to
management, those responsible for legal and compliance procedures and the company secretary. We corroborated our
inquiries through our review of board minutes.

∙The engagement partner assessed whether the engagement team collectively had the appropriate competence and
capabilities to identify or recognize non-compliance with laws and regulations. The assessment did not identify any issues in this area.

∙We assessed the susceptibility of the Company financial statements to material misstatement, including how fraud might occur.

∙We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

°Posting of unusual journals

°Posting of fraudulent payments and receipts in the accounting software

°Authorisation, processing, and payment of fraudulent expenses.

°Timing of revenue recognition.

∙As a result of the above risks, audit procedures performed by the engagement team included:

°Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

°Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

°Reviewing revenue recognition policies and assessing whether income has been recognised in accordance with the applicable financial reporting framework, including consideration of the timing of recognition;

°Challenging assumptions and judgements made by management in its significant accounting estimates;

°Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 5


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ADVERTISING ASSOCIATION (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Janice Matthews FCA (Senior Statutory Auditor)

for and on behalf of

Menzies LLP

Chartered Accountants

Statutory Auditor

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP

13 July 2026

Page 6


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 31 DECEMBER 2025

	2025	2024
Note	£	£


Turnover	3	1,835,032	1,794,591
Other operating income	4	1,527,493	1,411,719
Staff costs		(1,809,897)	(1,634,969)
Depreciation and amortisation		(32,089)	(24,621)
Other operating expenses	5	(1,514,094)	(1,557,410)
Operating profit/(loss)		6,445	(10,690)
Tax on profit/(loss)		1,776	-
Profit/(loss) after tax		8,221	(10,690)



Retained earnings at the beginning of the year	649,967	660,657
	649,967	660,657
Profit/(loss) for the year	8,221	(10,690)
Retained earnings at the end of the year	658,188	649,967

The notes on pages 9 to 16 form part of these financial statements.

Page 7


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee) REGISTERED NUMBER:00211587

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	8		165,770		143,184
Investments	9		1		1
			165,771		143,185
Current assets
Debtors: amounts falling due within one year	11	2,493,592		2,259,340
Cash at bank and in hand		204,071		178,903
		2,697,663		2,438,243
Creditors: amounts falling due within one year	12	(2,155,246)		(1,931,461)
Net current assets			542,417		506,782
Total assets less current liabilities			708,188		649,967
Provisions for liabilities
Other provisions	13	(50,000)		-
			(50,000)		-
Net assets			658,188		649,967

Capital and reserves
Profit and loss account	658,188	649,967
	658,188	649,967

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................ S W J Woodford	................................................ C S M Frijns
Director	Director
Date: 13 July 2026	Date:13 July 2026

The notes on pages 9 to 16 form part of these financial statements.

Page 8


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	Company Information

The Advertising Association is a private limited company by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. The Advertising Association is incorporated in England and Wales. The registered office is 5th Floor, 95 Aldwych Strand, London, WC2B 4JF.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The Advertising Association constitutes a Public Benefit Entity as defined by FRS102.

All figures are rounded to the nearest £.

The following principal accounting policies have been applied:

2.2

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its consolidated financial statements.

2.3

Turnover

Turnover represents general subscription income due and is stated net of value added tax. Income is recognised in the period to which the subscription relates and income received in respect of future periods is carried forward as deferred income.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In the opinion of the directors there are no significant estimates or areas of judgement that would have a material impact on the financial statements.

Page 9


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.6

Other Operating Income

Other operating income represents monies from holding courses and seminars, publications and other income, and is stated net of value added tax. Income recognised in the period in which the course is held or service provided. Income in relation to future periods is carried forward in deferred income.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.8

Consolidation

In the opinion of the directors, the company and its subsidary and undertakings comprise a small group. The company has, therefore, taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings	-	10%
Office equipment	-	33%
Leasehold Improvement	-	10-20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Page 10


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

The overdraft facilities are secured by a debenture comprising of fixed and floating charges over the assets of the company.

2.13

Transactions and balances

In preparing financial statements of the company, transactions in the currencies other than the functional currency are recognised at the spot rate at the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date.

2.14

Taxation

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.15

Pensions

The company utilises a defined contribution scheme. Contributions are charged to profit and loss account so as to spread the cost of the pensions over the employees' working lives within the company.

2.16

Cash Flow Statement

The company is exempt under FRS 102 and has not produced a cash flow statement.

2.17

Reclassification of other operating income and charges

Certain comparative amounts within other income and other charges have been reclassified to more appropriately reflect the nature and underlying substance of the related transactions, and to improve consistency and clarity of presentation. Comparative amounts have been re-presented on a consistent basis. The reclassifications have had no impact on the prior year profit or net assets.

Page 11


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Membership Services	1,835,032	1,794,591
	1,835,032	1,794,591

All turnover arose within the United Kingdom.

Courses & Seminars	278,100	217,700
Events	443,492	216,299
UKAEG	185,010	243,770
Other income	70,957	223,010
Advertising Information Group	18,812	30,902
Recovery of Overhead	256,043	222,370
All In / BRiM	116,680	81,000
Publications	158,399	176,668
	1,527,493	1,411,719

5.	Operating charges
						As restated


Commercial & Member Relations	38,505	37,144
Administration & Overhead	609,604	547,106
Information & Strategy	36,472	42,837
Communications & Industry Affairs	151,607	145,559
Courses & Seminars	169,495	176,446
Events	370,750	384,456
Advertising Information Group	19,660	26,104
UKAEG	81,316	172,393
All In/BRiM	36,685	25,365
	1,514,094	1,557,410

Page 12


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Employees

The average monthly number of employees, excluding non-executive directors, during the year was as follows:

			2025	2024
			No.	No.

			27	27

7.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	350,602	324,712
	350,602	324,712

8.	Tangible fixed assets

	Office equipment	Fixtures and fittings	Leasehold Improvement	Total
	£	£	£	£
Cost or valuation
At 1 January 2025	53,935	71,721	82,937	208,593
Additions	3,952	723	50,000	54,675
Transfers between classes	(3,075)	3,075	-	-
At 31 December 2025	54,812	75,519	132,937	263,268
Depreciation
At 1 January 2025	37,951	19,731	7,727	65,409
Charge for the year on owned assets	7,093	6,702	18,294	32,089
Transfers between classes	(101)	101	-	-
At 31 December 2025	44,943	26,534	26,021	97,498
Net book value
At 31 December 2025	9,869	48,985	106,916	165,770
At 31 December 2024	15,984	51,990	75,210	143,184

Page 13


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

9.	Fixed asset investments

		Trade investments
		£

	At 1 January 2025	1
	At 31 December 2025	1

10.	The company owns 100% of the issued ordinary share capital of the company listed below

The Media Business Course Limited (Dormant)
Registered office address:
5th Floor, 95 Aldwych Strand, London, England, WC2B 4JF

The aggregate of the share capital and reserves for The Media Business Course Limited as at 31
December 2025 was £1 (2024: £1), and the profits or losses for the year ended 31 December 2025 was £nil, (2024: £Nil).

The company also owns 100% of the voting rights in the following companies limited by guarantee:

Advertising Association AdGreen Limited
Registered office address: 5th Floor, 95 Aldwych Strand, London, WC2B 4JF.

The aggregate of the share capital and reserves for Advertising Association AdGreen Limited as at 31 December 2025 was £251,597 (2024: £201,198), and the profit for the year ended 31 December 2025 was £50,399 (2024: £97,123).

Ad Net Zero Limited
Registered office address: 5th Floor, 95 Aldwych Strand, London, WC2B 4JF.

The aggregate of the share capital and reserves for Ad Net Zero Limited as at 31 December 2025 was (£355,474) (2024: (£323,177)) and the loss for the year ended 31 December 2025 was £32,297 (2024: £57,509).

Media Smart UK Limited
Registered office address: 5th Floor, 95 Aldwych Strand, London, WC2B 4JF.

The aggregate of the share capital and reserves for Media Smart UK Limited as at 31 December 2025 was £17,149 (2024: £37,466) and the (loss) for the year ended 31 December 2025 was (£20,317) (2024: profit of £24,032).

Page 14


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

11.

Debtors

					2025	2024
					£	£


Trade debtors	1,142,448	620,598
Amounts owed by group undertakings	861,662	341,101
Other debtors	7,664	24,903
Prepayments and accrued income	481,818	1,272,738
	2,493,592	2,259,340

12.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	273,004	665,935
Amounts owed to group undertakings	-	31,321
Corporation tax	335	544
Other taxation and social security	253,974	108,416
Other creditors	558,458	235,091
Accruals and deferred income	1,069,475	890,154
	2,155,246	1,931,461

13.	Provisions

		Dilapidations provision
		£

	Additions (capitalised to fixed assets)	50,000
	At 31 December 2025	50,000

The above dilapidation provision relates to the Company's present obligation to restore the property to a specified condition. The timing of this payment is therefore uncertain as it may only occur upon the termination of the lease.

Page 15


THE ADVERTISING ASSOCIATION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025


14.	Related party transactions

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The company considers that its Key Management Personnel are the directors. Details of their remuneration can be
found in Note 7.

Not later than 1 year	174,625	174,625
Later than 1 year and not later than 5 years	356,041	530,666
	530,666	705,291

Lease payments recognised as an expense amounted to £148,431 (2024:£112,448).

Page 16