Incorporated Society Of British Advertisers Limited
Annual Report and Financial Statements
For the year ended 31 March 2025
Company Registration No. 00068497 (England and Wales)
Incorporated Society of British Advertisers Limited
Incorporated Society Of British Advertisers Limited
Company Information
Directors
J Dougan
K Cavanaugh
M Given
S Mansfield
M Jobling
B S Rhodes
D Brooke
D E Rubel
D R Howell
D Hills
G Booker
L Raoust
P D Markey
P R Smith
S L Day
S Barron
S K Groves
T G Vite
Secretary
D Poyser
Company number
00068497
Registered office
12 Henrietta Street
Covent Garden
London
WC2E 8LH
WC2E 8LH
Auditor
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Incorporated Society of British Advertisers Limited
Incorporated Society Of British Advertisers Limited
Contents
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Statement of income and retained earnings
8
Balance sheet
9
Statement of cash flows
10
Notes to the financial statements
11 - 23
Incorporated Society of British Advertisers Limited
Incorporated Society Of British Advertisers Limited
Strategic Report
For the year ended 31 March 2025
Page 1

The directors present the strategic report for the year ended 31 March 2025.

Fair review of the business

ISBA has achieved a surplus before taxation of £257,335 (2024: £216,125) and a surplus after taxation of £179,812 (2024: of £181,719) resulting in revenue reserves of £898,701 (2024: £718,889). The increase in surplus compared to the prior year reflects a higher margin from trading activity, higher interest receivable and a gain in the value of our investment portfolio.

 

Member subscription income at £3,709k was £152k higher than the prior year’s figure of £3,557k. Despite the challenging economic environment, sixteen new members were recruited with the loss of thirteen members. The directors are pleased with this outcome.

 

Our events and training programme generated £94k revenue (2024: £53k) with the CPD accredited Media Foundation Certificate again proving very successful. We also launched a CPD accredited intermediary programme, ISBA Media Excellence, with The Aperto Partnership. We again collaborated with the IPA and the Advertising Association to hold our fourth joint industry summit, LEAD 2025, in February 2025.

 

Our strategic partnership programme generated revenue of £146k compared to £162k in the prior year. Turnover in excess of £20.8m has been disclosed in relation to funding raised from stakeholders of Origin, the programme led by ISBA on behalf of brand owners to create a platform that accountably measures cross-media reach and frequency. Costs recognised on Origin were also £20.8m and the project contributes £Nil to the year's gross surplus.

 

The Council considers this year’s result to be in line with current expectations and will continue to ensure good financial management and proper controls remain in place.

Risk management

Senior management are aware of their responsibility for managing risks within the business and set appropriate policies to mitigate these risks. Insurance policies are regularly reviewed to ensure they are adequate to cover all business activities.

 

The Council regularly reviews business strategy with formal priorities set each year which are monitored on a monthly basis.

Other associations

ISBA paid £274,113 (2024: £263,570) to the Advertising Association and £43,916 (2024: £44,021) to the World Federation of Advertisers based in Brussels during the year. The Council considers that this is a cost effective means for ensuring that members' interests are fully represented in the United Kingdom and internationally.

On behalf of the board

P D Markey
President
17 July 2025
Incorporated Society Of British Advertisers Limited
Directors' Report
For the year ended 31 March 2025
Page 2

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

Principal activities

The principal activities of ISBA are to champion advertising and promote the freedom of commercial speech; to represent the views of its members on advertising and communication matters to parties including the Government, industry regulators, media owners, agencies and the public; to represent members on any committees or working groups which may affect their interests; to support responsible self-regulation of the advertising industry and facilitate best practice within the industry through education, training, publications and networking; to help its members to advertise as effectively, efficiently and economically as possible; to provide a forum for debate amongst members to establish consensus opinions, goals and objectives and pursue on their behalf.

Results and dividends

The results for the year are set out on page 8.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

J Dougan
K Cavanaugh
M Given
S Mansfield
M Jobling
B S Rhodes
D Brooke
D E Rubel
D R Howell
D Hills
G Booker
L Raoust
P D Markey
P R Smith
S L Day
S Barron
S K Groves
T G Vite
Auditor

In accordance with the company's articles, a resolution proposing that Moore Kingston Smith LLP be reappointed as auditor of the company will be put at a General Meeting.

Incorporated Society Of British Advertisers Limited
Directors' Report (Continued)
For the year ended 31 March 2025
Page 3
Statement of directors' responsibilities

The directors are responsible for preparing the Annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:

 

 

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 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.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
P D Markey
President
17 July 2025
Incorporated Society Of British Advertisers Limited
Independent Auditor's Report
To the Members of Incorporated Society Of British Advertisers Limited
Page 4
Opinion

We have audited the financial statements of Incorporated Society of British Advertisers Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of income and retained earnings, the Balance sheet and notes to the financial statements, 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 director is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The 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.

Incorporated Society Of British Advertisers Limited
Independent Auditor's Report (Continued)
To the Members of Incorporated Society Of British Advertisers Limited
Page 5

Opinions on other matters prescribed by the Companies Act 2006

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

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 Strategic Report and the Directors' Report.

 

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

 

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement, 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.

Auditor's 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 auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in 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.

 

 

 

 

 

 

Incorporated Society Of British Advertisers Limited
Independent Auditor's Report (Continued)
To the Members of Incorporated Society Of British Advertisers Limited
Page 6

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

 

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

 

Our approach was as follows:

 

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

 

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

 

Incorporated Society Of British Advertisers Limited
Independent Auditor's Report (Continued)
To the Members of Incorporated Society Of British Advertisers Limited
Page 7

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 auditor's 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.

Esther Carder
Senior Statutory Auditor
for and on behalf of Moore Kingston Smith LLP
18 July 2025
Chartered Accountants
Statutory Auditor
Charlotte Building
17 Gresse Street
London
W1T 1QL
Incorporated Society Of British Advertisers Limited
Statement of Income and Retained Earnings
For the year ended 31 March 2025
Page 8
2025
2024
Notes
£
£
Turnover
3, 4
24,939,276
22,064,293
Cost of sales
4
(21,178,839)
(18,565,569)
Gross surplus
3,760,437
3,498,724
Administrative expenses
(3,558,338)
(3,309,025)
Operating surplus
5
202,099
189,699
Interest receivable and similar income
8
26,254
21,613
Fair value gains and losses
9
28,982
4,813
Surplus before taxation
257,335
216,125
Tax on surplus
10
(86,976)
(34,406)
Surplus for the financial year
170,359
181,719
Retained earnings brought forward
718,889
537,170
Retained earnings carried forward
889,248
718,889

The income and expenditure account has been prepared on the basis that all operations are continuing operations.

Incorporated Society Of British Advertisers Limited
Balance Sheet
As at 31 March 2025
Page 9
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
11
7,000
5,100
Tangible assets
12
81,012
22,106
Investments
13
777,652
748,671
865,664
775,877
Current assets
Debtors
14
3,911,040
3,323,746
Cash at bank and in hand
3,067,778
6,568,853
6,978,818
9,892,599
Creditors: amounts falling due within one year
15
(6,952,397)
(9,946,376)
Net current assets/(liabilities)
26,421
(53,777)
Total assets less current liabilities
892,085
722,100
Provisions for liabilities
Deferred tax liability
16
(2,837)
(3,211)
(2,837)
(3,211)
Net assets
889,248
718,889
Reserves
Income and expenditure account
889,248
718,889
Members' funds
889,248
718,889
The financial statements were approved by the board of directors and authorised for issue on 17 July 2025 and are signed on its behalf by:
P D Markey
Director
Company Registration No. 00068497
Incorporated Society Of British Advertisers Limited
Statement of Cash Flows
For the year ended 31 March 2025
Page 10
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
22
(3,344,735)
3,587,216
Income taxes paid
(66,876)
(8,663)
Net cash (outflow)/inflow from operating activities
(3,411,611)
3,578,553
Investing activities
Purchase of intangible assets
(4,800)
(6,800)
Purchase of tangible fixed assets
(110,918)
(8,443)
Proceeds from disposal of tangible fixed assets
-
0
1,751
Interest received
26,254
21,613
Net cash (used in)/generated from investing activities
(89,464)
8,121
Net (decrease)/increase in cash and cash equivalents
(3,501,075)
3,586,674
Cash and cash equivalents at beginning of year
6,568,853
2,982,179
Cash and cash equivalents at end of year
3,067,778
6,568,853
Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements
For the year ended 31 March 2025
Page 11
1
Accounting policies
Company information

Incorporated Society of British Advertisers Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 12 Henrietta Street, Covent Garden, London, WC2E 8LH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company generates stable cash inflows from subscriptions. In addition the company has strong cash balances and readily realisable fixed asset investments such that it would be able to meet its non-discretionary expenditure even in the event of a significant reduction in income for a period of at least 12 months from the date of signing the financial statements. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, membership and professional services and is shown net of VAT and other sales related taxes.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Origin revenue is recognised when the costs are incurred.

 

Subscriber membership revenue is recognised over the length of the subscription period.

 

Revenue in relation to events is recognised on the date the event takes place.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software (CRM & Website)
over 4 years
Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 12
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
over 3 years
Plant and equipment
over 4-10 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.6
Fixed asset investments

Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in surplus or deficit. Transaction costs are expensed to surplus or deficit as incurred.

Current asset investments are stated at market value.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 13
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through surplus and deficit, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in surplus or deficit.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in surplus or deficit.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 14
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 15
1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Origin income

Revenue recognition of the Origin income includes a judgement that the company is acting as principal rather than an agent when contracting with third parties, and incurring costs that are passed on to the client. When the company takes primary responsibility for the work performed in an arrangement, it is considered to be the principal. The impact of this critical accounting judgement gives context to the revenue and the cost in relation to Origin Project which shows both income and costs as set out in note 3 and 4.

3
Turnover

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Origin project
20,860,810
18,257,978
Subscriptions from members
3,709,580
3,557,243
Amounts received from conferences and training workshops
94,700
53,200
Other Income
274,186
195,872
24,939,276
22,064,293
Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
3
Turnover
(Continued)
Page 16
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
15,243,162
11,748,993
Europe
176,014
109,520
USA
9,225,369
10,020,094
Rest of the world
294,731
185,686
24,939,276
22,064,293
4
Origin income and costs
2025
2024
£
£
Origin income included in sales
20,860,810
18,257,978
Origin costs included in cost of sales
(20,860,810)
(18,257,978)
Total effect to gross profit
-
-
5
Operating surplus
2025
2024
Operating surplus for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditors for the audit of the company's financial statements
22,500
22,500
Depreciation of owned tangible fixed assets
52,012
81,142
Operating lease charges
245,629
343,250
Amortisation of owned intangible fixed assets
2,900
16,815
Staff costs
2,428,656
2,289,419
Expenses related to conferences and training workshops
58,533
29,012
Other accommodation costs
55,154
98,696
Representation and promotion
195,313
194,690
General administration
367,782
303,165
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was 21 (2024: 22)

Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
6
Employees
(Continued)
Page 17

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,056,193
1,944,239
Social security costs
227,400
211,771
Pension costs
145,063
133,409
2,428,656
2,289,419
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
260,683
245,269
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
260,683
245,269
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
26,254
21,613

Investment income includes the following:

Interest on financial assets not measured at fair value through surplus or deficit
26,254
21,613
9
Fair value gains and losses
2025
2024
£
£
Gain on disposal of financial assets held at fair value through profit or loss
28,982
4,813
Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 18
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
64,130
43,669
Adjustments in respect of prior periods
23,220
-
0
Total current tax
87,350
43,669
Deferred tax
Origination and reversal of timing differences
(374)
(9,263)
Total tax charge
86,976
34,406

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
257,335
216,125
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
64,334
54,031
Tax effect of expenses that are not deductible in determining taxable profit
(813)
(21,523)
Under/(over) provided in prior years
23,220
-
0
Tax at marginal rate
-
0
(1,066)
Deferred tax calculated at 19%
235
2,964
Taxation charge for the year
86,976
34,406
Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 19
11
Intangible fixed assets
Software (CRM & Website)
£
Cost
At 1 April 2024
67,260
Additions
4,800
At 31 March 2025
72,060
Amortisation and impairment
At 1 April 2024
62,160
Amortisation charged for the year
2,900
At 31 March 2025
65,060
Carrying amount
At 31 March 2025
7,000
At 31 March 2024
5,100
12
Tangible fixed assets
Leasehold improvements
Plant and equipment
Total
£
£
£
Cost
At 1 April 2024
390,236
222,157
612,393
Additions
95,110
15,808
110,918
At 31 March 2025
485,346
237,965
723,311
Depreciation and impairment
At 1 April 2024
390,236
200,051
590,287
Depreciation charged in the year
31,703
20,309
52,012
At 31 March 2025
421,939
220,360
642,299
Carrying amount
At 31 March 2025
63,407
17,605
81,012
At 31 March 2024
-
0
22,106
22,106
Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 20
13
Fixed asset investments
2025
2024
£
£
Listed investments
777,652
748,671

Investments are held at market value.

Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2024
748,671
Fair value adjustments
28,981
At 31 March 2025
777,652
Carrying amount
At 31 March 2025
777,652
At 31 March 2024
748,671
14
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
3,250,545
1,741,275
Other debtors
101,357
198,858
Prepayments and accrued income
467,449
1,383,613
3,819,351
3,323,746
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
91,689
-
0
Total debtors
3,911,040
3,323,746
Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 21
15
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Trade creditors
1,793,474
1,911,018
Corporation tax
64,130
43,656
Other taxation and social security
90,858
82,994
Deferred income
3,029,964
5,239,836
Other creditors
24,854
20,916
Accruals
1,949,117
2,647,956
6,952,397
9,946,376
16
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
2,837
3,211
2025
Movements in the year:
£
Liability at 1 April 2024
3,211
Credit to profit or loss
(374)
Liability at 31 March 2025
2,837

 

17
Retirement Benefit Schemes

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

 

The charge to income and expenditure in respect of defined contribution schemes was £152,470 (2024 - £145,063 ).

 

There were no contributions outstanding at 31 March 2025 (2024 - £nil).

Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 22
18
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

19
Operating lease commitments
Lessee

 

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
343,250
22,294
Between two and five years
214,531
-
0
557,781
22,294
20
Capital commitments

As at the year-end, there was a commitment to transfer the operations of Origin to a separate legal entity, Origin Media Measurement Limited. The company was incorporated on 8 November 2023 and it is expected that operations will be transferred during 2025, initially with ISBA as the sole member. It is expected that the company will become a subsidiary of another company limited by guarantee with other Origin stakeholders as members during 2026. As the Origin project is run at zero profit there will be no impact on the company’s profit or net assets, although both revenue and costs will be reduced.

21
Control

There is no ultimate controlling party.

Incorporated Society Of British Advertisers Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 23
22
Cash (absorbed by)/generated from operations
2025
2024
£
£
Surplus for the year after tax
170,359
181,719
Adjustments for:
Taxation charged
86,976
34,406
Investment income
(26,254)
(21,613)
Gain on disposal of tangible fixed assets
-
(549)
Amortisation and impairment of intangible assets
2,900
16,815
Depreciation and impairment of tangible fixed assets
52,012
81,142
Other gains and losses
(28,981)
(4,813)
Decrease in provisions
-
0
(181,000)
Movements in working capital:
(Increase)/decrease in debtors
(587,294)
701,974
(Decrease)/increase in creditors
(3,014,453)
2,779,135
Cash (absorbed by)/generated from operations
(3,344,735)
3,587,216
23
Analysis of changes in net funds
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
6,568,853
(3,501,075)
3,067,778
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