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Registered number: 01195756
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FOR THE YEAR ENDED
31 MARCH 2026
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THE ADVERTISING STANDARDS BOARD OF FINANCE LIMITED
(A Company Limited by Guarantee)
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THE ADVERTISING STANDARDS BOARD OF FINANCE LIMITED
(A Company Limited by Guarantee)
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STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The directors present the strategic report for the year ended 31 March 2026.
ASBOF levy income rose by 3.8% (2025 - rose by 0.2%) and the MASBOF (Mailing Standards) levy fell by 1.6% (2025 - rose by 1%). Digital Direct income fell by 36.6% (2025 – rose by 16%). Total Income fell by 1.6% compared to last year (2025 – rose by 1.9%).
Payments to self-regulatory bodies fell by 4.3% (2025 - rose by 2.1%).
The company's cash balances at the year-end totalled £632,683 (2025 - £565,549).
The profit for the year, after taxation, amounted to £30,773 (2025 - £28,979). As at the balance sheet date the Company had net assets of £627,401 (2025 - £596,628).
The company is precluded by its memorandum from making any distribution to its members.
The results for the year and the state of The Advertising Standards Board of Finance Limited's (ASBOF) affairs are set out in the attached financial statements.
The company monitors levy collection performance and is satisfied that compliance levels continue at historic and satisfactory levels.
The company is making progress in persuading either digital advertisers billed directly by search companies to opt into the levy scheme, or the digital companies themselves to directly contribute levy income. We continue to engage in constructive dialogue with the digital companies to address the shortfall in levy income from digital advertisers compared to the cost to the ASA of digital regulation.
On March 19, 2026, Asbof announced that it had launched an industrywide taskforce dedicated to securing sustainable, long-term funding for the Advertising Standards Authority. The initiative is aimed at designing a modernised funding model to cope with the rapid growth of the digital advertising market.
Principal risks and uncertainties
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The key risks to the company are:
∙Withdrawal of support for self-regulation by advertisers or agencies.
∙A change of government or OFCOM policy towards advertising regulation, and the implementation of statutory regulation.
∙A significant decline in the level of advertising revenues in any media, including Direct Mail postal expenditure.
∙A major increase in the volume of complaints received by the ASA requiring a significant increase in their budget.
∙The inability to persuade advertisers billed directly by online search companies to opt in to the levy payment scheme.
The company has the active support, via its trade association members, of advertisers and their agencies.
Recent years have shown that the system can respond to unexpected short term financial shocks, cutting back costs as necessary to maintain financial stability.
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THE ADVERTISING STANDARDS BOARD OF FINANCE LIMITED
(A Company Limited by Guarantee)
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Financial key performance indicators
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The directors expect that the share of advertising budgets allocated to digital marketing will continue to grow. The company is engaging with major industry bodies involved in this area, to ensure that it keeps abreast of developments, and can respond accordingly.
This report was approved by the board and signed on its behalf.
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R Price
Director
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THE ADVERTISING STANDARDS BOARD OF FINANCE LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER:01195756
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with 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:
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R Price
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The notes on pages 4 to 7 form part of these financial statements.
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THE ADVERTISING STANDARDS BOARD OF FINANCE LIMITED
(A Company Limited by Guarantee)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The Advertising Standards Board of Finance Limited is a private company, limited by guarantee, registered in England and Wales. The address of the registered office is given on the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company and figures are rounded to the nearest £.
2.Accounting policies
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Basis of preparation of financial statements
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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 disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
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Operating leases: the Company as lessee
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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.
Interest income is recognised in profit or loss using the effective interest method.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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THE ADVERTISING STANDARDS BOARD OF FINANCE LIMITED
(A Company Limited by Guarantee)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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 reporting date in the countries where the Company operates and generates income.
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:
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.
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The average monthly number of employees, including directors, during the year was 24 (2025 - 24).
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THE ADVERTISING STANDARDS BOARD OF FINANCE LIMITED
(A Company Limited by Guarantee)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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THE ADVERTISING STANDARDS BOARD OF FINANCE LIMITED
(A Company Limited by Guarantee)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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 auditor's report on the financial statements for the year ended 31 March 2026 was unqualified.
The audit report was signed on 8 July 2026 by Janice Matthews FCA (Senior Statutory Auditor) on behalf of Menzies LLP.
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