Company registration number 03316394 (England and Wales)
Institute Of Customer Service
Annual Report and Financial Statements
For the year ended 31 March 2026
Institute Of Customer Service
Contents
Page
Company Information
1 - 2
Strategic report
3 - 12
Directors' report
13 - 14
Independent auditor's report
15 - 17
Profit and Loss Account
18
Balance sheet
19 - 20
Notes to the financial statements
21 - 26
Institute Of Customer Service
Company Information
- 1 -
The Board of directors
Giles Hawke
Chairman of the Board and Chairman of the Remuneration Committee (Resigned 30 June 2026)
Joanna Causon
Chief Executive
Chris Pitt
Non-Executive Director
David MacLeod
Non-Executive Director
Graham Edwards
Non-Executive Director
Jonathan Cowie
Non-Executive Director
Shirley Fell
Non-Executive Director and Chair of the Audit Committee (Chair of Board from 1 July 2026)
Jacqueline Starr
Non-Executive Director
President
Simon Roberts
Chief Executive of Sainsbury's
Vice Presidents
Ailsa King
CCO
Marsh McLennan UK
Alison Japp
Director
Agile Endeavours
Alison Jones
Chief Customer and Aftersales Officer, Global
Stellantis
Andrew Westhead
Retail Director
NS&I
Angela Lockwood
Non-Executive Director
Mears Group &Riverside Housing Group
Angela MacDonald
Deputy Chief Executive & Second Permanent Secretary
HM Revenue & Customs
Anna Cook
Customer Director
M&S
Ant Middle
CEO
Ageas UK
Ben Fletcher
former Group CFO
The Very Group
Carla Thomas
Banking Service MD
Lloyds Banking Group
Christopher Shead
Director of Customer Operations
E.ON Next
David Roberts
Non-Executive Chair
Norwegian Log Buildings
Eric Leenders
MD
UK Finance
Francesca Rea
Customer Experience Transformation Leader
Gareth Franks
Head of Customer Services
Virgin Money
Jamie Nuwar-Graham
COO
Cabot Financial
James Mitton
Director General for Enterprise Transformation Group
HM Revenue & Customs
Jeremy Hyams
Founder and CEO
Claims Consortium Group
Jo Marshall
former Executive Director
YPO
Jo Moran
Former Head of Transformation - Stores and Property
M&S
Jo Upward
Director of Strategy and Development
Built by Levy UK
Joe Richardson
Operations Director
Octopus Energy
John Barnett
former Director of Operations
Npower Energy Services
Kathryn O'Brien
Customer Experience Director
Avanti West Coast
Lance De Luca
COO
Pension Insurance Corporation (PIC)
Lesley Taylor
UK MD
Globus
Liz Fairburn
CCO
The Riverside Group
Louise Beardmore
CEO
United Utilities
Lucinda Scott
Customer Service Director
first direct
Mark Evans
former Managing Director for Marketing & Digital
Direct Line Group
Mark Gait
former Director
Virgin Media O2
Martyn Oakley
Operations Director
Laithwaites Wine
Michelle West-Wiggins
Director of Customer Service
Cirencester Friendly Society
Mike Gauterin
Customer Services and Technology Director
United Utilities
Nigel Purveur
former Managing Director
Capita Insurance Services Division
Paul Harris
former Executive Director Customer Experience
Curo Group
Dr Peter Carter
Independent Healthcare Consultant
Peter Cross
former Customer Experience Director
John Lewis
Peter Farrer
COO
Scottish Water
Institute Of Customer Service
Company Information
- 2 -
Peter Sinden
former GI Executive Strategy Director
LV=
Phil McGilvray
MD
Intrum UK
Rachel Crownshaw
Group MD - Communities
Places for People
Richard Pash
UK CCO
Zurich
Sian Jones
CEO
Correla
Trafford Wilson
Non-Executive Director
Moat Homes
Company Secretary
Winifred Armah
Company Number
03316394
Registered Office
Ground Floor
4 Gainsford Street
London
SE1 2NE
Auditors
Gilberts Chartered Accountants
Pendragon House
65 London Road
St Albans
Hertfordshire
AL1 1LJ
Bankers
Lloyds Bank plc
27 High Street
Colchester
Essex
CO1 1DU
Metro Bank
1 Southampton Row
London
WC1B 5HA
Solicitors
Birkett Long
Essex House
42 Crouch Street
Colchester
Essex
CO3 3HH
Institute Of Customer Service
Strategic Report
For the year ended 31 March 2026
- 3 -

Foreword from the CEO

We have seen another year of real progress against a challenging backdrop. Over the past twelve months, we – along with our members – have contended with a combination of compounding factors, including heightened geopolitical unrest, a more fragmented nation, and an increasingly polarised society. The pressures on customers and organisations alike have been real and sustained, and the wider outlook remains as volatile and unpredictable as I can remember.

All of which makes The Institute's role as a unifying force for good all the more vital. In a climate that too often pulls people apart, service remains something that brings us together: a shared standard, a common language, and a practical means of building trust between our organisations and the customers we serve.

As I spoke about at our Annual Conference, and at the inaugural meeting of CEOs at our President's Dinner, we are here to support you, and the wider economy, in driving forward the Service Nation. That means helping our members become more efficient, more effective and more profitable, and proving, time and again, that service is not a cost to be managed but a business asset to invest in.

Our UK Customer Satisfaction Index remains the authoritative, independent barometer of how the nation feels about the service it receives. It continues to inform decisions in the boardroom, shape regulatory thinking, and provide our members with a verifiable, independent benchmark to better understand perceptions of their service proposition.

Alongside the UKCSI, our programme of member meetings, community events, member showcase days and regulator roundtables has given members the opportunity to peek behind the curtain, share what works, and make a difference.

And we need your help too. Every one of our members has clients, supplier partners and peers who would benefit from the work we do. I would ask each of you to help us grow The Institute, to extend our reach and enhance our influence, and to bring more organisations into a movement that is making a tangible difference to the country.

Behind the scenes, we have been working hard to ensure we have the right personnel, systems and infrastructure in place to deliver our promise to members. These investments mean we are better equipped than ever to serve you well, both now and in the years ahead.

Our role is to be a standard-bearer for the industry, acting as your critical friend when you need it most. Thank you for your ongoing support.

Joanna Causon
CEO
8 July 2026
Institute Of Customer Service
Strategic Report (Continued)
For the year ended 31 March 2026
- 4 -
The directors have the pleasure in presenting their Strategic Report and the financial statements of the company for the year ended 31 March 2026.
Principal activities and review of the business

The Institute of Customer Service was formed in 1996 and incorporated as a company limited by guarantee in February 1997. The Institute is a not-for-profit professional body for customer service.

Our vision is to see a world where customer experience makes a positive and sustained impact on individuals, organisations, society, and the economic wellbeing of the UK.

Our mission is for The Institute of Customer Service to deliver tangible benefits to individuals, organisations and stakeholders. We are the leading independent expert, setting and upholding the standards to enable our customers to improve their business performance through service, so that the UK is seen as the place to experience great service and a valued expert on the global stage.

The Institute is also recognised as an expert in all aspects of customer service, and this is demonstrated through the provision of tangible benefits of membership including:

- knowledge, delivered through insight, research, advice and networking

- collateral to demonstrate that customer service is a harder-edge business driver

- training and assessments

- case studies

- bespoke research

- organisational and individual professional development

- benchmarking and insight

- customer service skills development

- qualifications and accreditation

- standard setting

- public policy development

Institute Of Customer Service
Strategic Report (Continued)
For the year ended 31 March 2026
- 5 -

Notable Achievements

Executive Summary Financially, revenue was up slightly at £5.5m (compared to £5.3m the previous year) and with expenditure well managed, we ended the year with a deficit of £218k after interest and taxation (compared to a deficit of £532k in the year prior). We ended the year with 319 members with a total of 1,146 membership years. Member satisfaction reached a record high of 86.2 (out of 100), a 10-point increase over the last 2 years. We had a record-breaking Annual Conference, with sales up 30% on the prior year Our Service with Respect campaign gained momentum - greater protections for retail workers have been introduced, and a Lords Bill amendment proposing protections for all public-facing workers gained huge support from non-Labour parties and independents and was narrowly defeated by just three votes. Our Academy achieved record annual revenues of £540k We raised funding to kickstart our new ‘Service University’ initiative Our CEO has featured on BBC Radio 5 Live’s Wake Up to Money each quarter, providing a perspective on the business stories of the week The Institute featured prominently on the Today Programme, BBC Breakfast, and Radio 5 Live Breakfast We significantly enhanced the UKCSI to ensure it remains relevant, insightful and the leading customer service benchmark in the UK We launched the ROI Toolkit, to help organisations better align their customer service and business performance measures We refreshed our brand to introduce a more modern, vibrant look and feel which better reflects the work we do and the impact we have with members We published two new pieces of Breakthrough Research: Engaging the Workforce of Tomorrow; and Hype or Reality? How AI is impacting customer service, productivity and governance Improvements to our systems and processes drove greater efficiencies and effectiveness across the business As part of our drive to ensure that UK Boards understand the importance of service, we have engaged a cadre of FTSE350 and public sector CEOs through different activities to help them shape strategy, investment and resources Financial Overview We ended the year with a deficit of £218k, and overall, the finances show a mixed picture. We had our best year ever for the Annual Conference, with revenue up 30% year-on-year. The Academy also produced a strong result, and income was above the previous year despite a significant restructure in this area. Though we performed well in the first quarter on membership renewals, renewals in the second half of the year impacted our overall performance. New Business was challenging, with the first half of the year significantly below budget, and this shortfall was recovered in the stronger second half. Our cash position remains strong with revenue reserves of over £6million. Our year-end finances reflect the challenging external market and the uncertainties that many of our members have faced. Member Engagement We have seen our best ever member satisfaction score, with a 10-point increase across the last 2 years. Pleasingly, this record satisfaction score was also achieved alongside a significant increase in response rates, with a 16% increase in responses versus last year.

Institute Of Customer Service
Strategic Report (Continued)
For the year ended 31 March 2026
- 6 -
Institute Of Customer Service
Strategic Report (Continued)
For the year ended 31 March 2026
- 7 -

Staying true to our mission We are the independent expert, setting and upholding standards to empower our members to improve their service and business performance. We champion change for individuals, organisations and the wider society, so that the UK is the place to experience great service and is a valued expert on the global stage. Our 'Four Pillars' Our drive to build a Service Nation is underpinned by four key pillars - establishing customer service as a business asset, a respected profession, a catalyst for a fairer society, and a driver of sustainable growth. At the heart of this is a belief that excellent service is a driver of social equity that will create a fairer society - one where every customer, regardless of background or circumstance, is treated with respect and able to access the services they need. Profile, Influence and Impact In 2025/26, we strengthened our position as the media’s go-to commentators on service and its impact on the UK economy.
We secured strong coverage with national and international media (BBC, The FT, The Guardian, The Times, The Telegraph, Forbes, and many others), enhancing our programme of op-eds, CEO interviews and commentary, contributor pieces, and broadcast appearances. Our most significant media moment of the year came in September 2025, when our Service with Respect campaign generated a significant burst of top-tier national broadcast coverage. Jo Causon appeared live on BBC Radio 4’s Today Programme, followed by BBC Breakfast’s Red Sofa. This, in turn, set the scene for a longer BBC Radio 5 Live programme on frontline abuse, accompanied by a detailed write-up on BBC News Online. The cumulative reach and impact of this coverage marked a new high-water mark for The Institute’s public profile. Jo continued her regular appearances on BBC Radio 5’s Wake Up to Money, discussing the latest business news and contributed regularly to Forbes and Utility Week. Media highlights this year included: BBC Radio 5 Live’s Wake up to Money (four separate appearances over the last year) BBC Breakfast (two separate appearances and a further research reference over the last year, one with both Jo Causon and Jacqueline Starr) BBC Radio 4 Today Programme – live appearance discussing Service with Respect BBC Radio 5 Live – one-hour programme on frontline worker abuse The Times – Op-ed on Service with Respect and the case for legislative change Forbes – covering AI with a human touch, risk and reputation, and the future of service The Guardian – feature on worsening customer service, referencing our open letter and UKCSI research Financial Times – Jo’s letter to the editor, and coverage of the UKCSI January results Daily Mail – UKCSI write-up Cross-sector, high-profile speaking engagements: Jo Causon spoke at 28 speaking engagements and 10 member events/boards, in 2025/26, attended industry roundtables and hosted VP meetings and launched our inaugural President’s Dinner with attendance of over 50 CEOs and influential politicians.

Institute Of Customer Service
Strategic Report (Continued)
For the year ended 31 March 2026
- 8 -

National Customer Service Week: National Customer Service Week (NCSW) 2025 demonstrated measurable progress across reach and engagement. We delivered a full week of activity, hosting a live event each day. This was supported by strong growth in downloads of the digital pack, up 13%. NCSW continues to drive sustained interest beyond the campaign window - specifically contributing over 35,000 visits across the year. Social media activity was also key to supporting visibility, reinforcing our role as a central voice during the week. Social Media Social media plays a critical role in amplifying The Institute’s voice, generating momentum around our key events and reinforcing our positioning as a leading authority in customer service. It is also an increasingly important channel for member engagement and capturing user-generated content and testimonials, which supports lead generation by providing authentic, member-led advocacy. Our social media following increased by nearly 6%, reaching 36,737 followers (up from 34,697), with LinkedIn remaining our primary channel at 30,845 followers. Website Our website continues to perform strongly with significant spikes in traffic corresponding to the UKCSI launches and National Customer Service Week. Direct traffic accounted for 41% of visits, up from 26% the previous year, indicating a loyal audience returning to the site via bookmarks or direct URLs. Email remains an effective channel, accounting for 15% of traffic. Public Policy In 2025/26, our public affairs activity significantly ramped up, with Service with Respect (which now has 370 supporting organisations) remaining our central political campaign. We received over 100 signatories to our open letter - CEOs and senior business leaders calling on government to extend protections to all public-facing workers. In July 2025, we held a well-attended Parliamentary Drinks Reception marking five years of Service with Respect, bringing together supporters, members, parliamentarians, and key stakeholders. We continued to commission waves of our Service with Respect tracker research, using the findings to feed into press releases, parliamentary briefings, and our wider lobbying efforts. The data and case studies provided by supporters were powerful tools in making the case for legislative change and was directly referenced by several peers during the Lords debates. We worked with Baroness Stowell to widen retail protections to other industries, who tabled a Lords amendment. The amendment was debated on 4 March 2026 with Baroness Stowell, Lord Hendy, Baroness Doocey, Lord Davies of Gower, Lord Hogan-Howe and others speaking in favour. Despite strong cross-party support – including from the Lib Dem and Conservative front benches, crossbenchers, and unaffiliated peers – the amendment was narrowly defeated by three votes, with Labour (other than a few abstentions) voting against and other parties, crossbenchers and non-affiliates voting for. Regulators We continued to engage with regulators to ensure that service quality remains high on their agenda. Our APPG convened Ofcom, Ofgem, the FCA, and the Regulator for Social Housing. We held several regulator roundtables, bringing business leaders and regulators of their respective sectors together to discuss how we can work collaboratively to improve customer outcomes. APPG Our All-Party Parliamentary Group (APPG) on Customer Service met on topics including the abuse of customer-facing workers and regulating for growth and better service. In December 2025, our Chair Connor Rand MP stepped down following his government appointment, with our previous co-chair, Chris Evans MP, elected as our new APPG Chair in February 2026.

Institute Of Customer Service
Strategic Report (Continued)
For the year ended 31 March 2026
- 9 -

Research and Insight UKCSI We have significantly enhanced the UKCSI to ensure it remains relevant, insightful and the leading customer service benchmark in the UK. We undertook fresh research into customer priorities to ensure that the UKCSI is relevant and current, whilst maintaining the integrity, robustness and continuity of the customer satisfaction benchmark. As a result of this research, we introduced two new measures covering support for customers at times of vulnerability and an organisation's protection of customer data. We also redesigned and introduced new content to UKCSI sector reports examining consumer sentiment and emerging trends that affect customer experience and buying behaviour. The core UKCSI benchmark questions will remain to ensure consistency and continuity of benchmarking. The successful January 2026 UKCSI launch at first direct’s office in Leeds included a panel discussion with Chris Pitt and Dame Irene Hays. We also held two member webinars and two open webinars (targeting non-members) for both the July 2025 and January 2026 UKCSI launches. Breakthrough Research We launched two new pieces of Breakthrough Research, as well as our annual report on Customer Service Trends and Predictions. Engaging the Workforce of Tomorrow launched in September 2025 highlights the impact on employee engagement of digitalisation in the workplace, hybrid working, expectations about inclusivity and well-being, changing customer behaviours, and the state of the economy. The research examines key differences in the perspectives of highly engaged, passively engaged and disengaged employees and makes practical recommendations about where organisations need to focus so that employees feel a personal connection to their organisation. The research was sponsored by first direct and Hays Travel. In February 2026, we launched our breakthrough research, Hype or Reality? How AI is impacting customer service, productivity and governance. The research, sponsored by Cosmos, NewDay and Zurich, explores how UK organisations, consumers and employees are experiencing and responding to the growing deployment of artificial intelligence (AI) in customer service. Customer Service Trends and Predictions 2026, a report examining the key issues and trends shaping the customer experience environment, was launched in December 2025. Our research continues to be well received and respected by members: in the 2025-member survey satisfaction with the quality of Institute research was 90.7 (out of 100). The Academy Whilst the year marked a good return for the Academy, both in terms of commercial performance and member engagement we believe it can offer more to our members to help them support the professional development and growth of their employees. We achieved an overall revenue of £540k, beating last year's performance. TrainingMark has also continued to be an important part of Membership, with many Members valuing the support and guidance during the accreditation of their own training. Looking ahead, the next year looks promising for the Academy, with strong foundations in place to drive continued growth. We have reviewed our entire portfolio of content and have made changes in the latter half of this year to focus on what our members really need to help support the professional development of their teams. We know that our ServiceFocus suite of certificate training courses is highly valued and has provided substantial benefits to our members who have undertaken these courses in the past. To support learners, we also built new areas within our VLE with further supporting content for practitioners and clearer pathways through learning, and we will develop this further in the coming year.

Institute Of Customer Service
Strategic Report (Continued)
For the year ended 31 March 2026
- 10 -

As we look to drive the Professionalisation of Customer Service, the refresh of our certificate courses alongside the redevelopment of our Professional Qualifications will help support by not only providing the required knowledge, skills and understanding, but also to really show individuals how to embed change and to demonstrate and apply these new skills in the workplace. People Development Employee Engagement Engagement levels remain high. There continues to be a strong understanding of the business plan, alongside clear commitment to our purpose and values. Performance Management Our approach to performance management has been maintained this year, with continued focus on embedding our competency framework, supporting meaningful objective setting and strengthening personal development through PDPs. Employment Changes We have continued to monitor developments related to the Employment Rights Bill, keeping members of the SLT updated as proposals have evolved. As greater clarity has emerged on the expected roadmap, we have begun preparing line managers for the anticipated changes, ensuring we remain well-positioned to adapt our policies and practices and maintain compliance. IT Systems and Business Improvement 2025/26 has been a year of consolidation and progress, building on the foundations established in 2024/25 to drive greater efficiency, stronger data integrity, and an improved experience for both Members and internal teams. The year has been characterised by a continued focus on reducing operational costs, strengthening our systems and infrastructure, and advancing two significant platform projects that will reshape how the Institute manages and shares data. Business Continuity Planning We have Disaster Recovery Plans in place, with a focus on developing strategies to ensure seamless operations under various scenarios. We have significantly enhanced our backup capacity and reduced our dependency on our legacy fixed hardware server solution. Additionally, we have a backup network solution at our office to mitigate the impact of any potential network outages. Governance The Institute received a ‘clean audit’ of 2024/25 and 2025/26 year-end accounts. We also re-appointed Gilberts as The Institute’s external auditors, following ratification at the AGM in July 2025. The governance of The Institute is achieved through its Board and committee structures, operational management activities, and implementation of its policies. The Board is responsible for setting the overall risk and investment strategy, CSR policy, the three year strategy and goals for The Institute and senior management are responsible for their operational implementation. Corporate Social Responsibility The Institute recognises its business operations have an impact on the communities and environment in which it operates. As per our CSR policy, we review our charity partner every two years and vote on who to support. As part of that process, we selected Alzheimer's Society as our new partner and ran a number of initiatives to raise money as part of our support. The Institute is committed to operating its business in a manner that is both sensitive and responsible with proper regard to its legal obligations and according to relevant directives, regulations, and codes of practice.

Institute Of Customer Service
Strategic Report (Continued)
For the year ended 31 March 2026
- 11 -

We are committed to supporting the Government’s vision for Corporate Social Responsibility, specifically:

- Promoting business activity that brings simultaneous economic, social, and environmental benefits

- Encouraging innovative approaches and continuing development and application of best practices

- Ensuring the best minimum levels of performance in areas such as health and safety, the environment, and equal opportunities

- Creating a framework that facilitates business practices that balance financial success with achievement of social and sustainability goals

- Taking an active part in supporting the local community and social causes

GDPR Compliance

We continue to work to ensure our compliance with the UK GDPR. The Institute ensures personal data is handled and dealt with properly, however it is collected, recorded, and used.

Our data protection policy sets out how we seek to protect personal data and ensure that staff understand the rules governing their use of personal data to which they have access in the course of their work. We have been working to improve our systems, processes, and contracts to help achieve this. We have also worked with members and suppliers to maintain compliance across our supply chain.

Our privacy policy covers how organisations’ and individuals’ data are secured, covering both their right to data being kept private and their right to privacy from tele and online marketing, unless they have opted in to receive it. It also helps ensure The Institute complies with the Privacy and Electronic Communications Regulations (PECR) and that applies in conjunction with data protection legislation, such as GDPR.

Embarking on our new three-year strategy, our key strategic priorities in 2026/27 are:

1. Membership growth: deliver on the numbers and improve retention: Drive deeper membership engagement and uptake of products and services to demonstrate the tangible impact of membership and clearly articulated ROI. Ensure our value propositions remain fit for purpose and develop new services to meet the changing needs of our members. Deliver internationally for Group members.

2. Embed ServiceMark: as the national organisational standard and demonstrate its impact in terms of improved customer satisfaction. The deployment of SM is scalable and cost-effective for larger organisations.

3. We continue to build profile and influence: We drive the case for the four pillars of the service nation with high-profile coverage through all forms of media and channels.

4. We are the go-to place for Customer service training and Professional development – The Academy grows and achieves appropriate performance and traction.

5. We achieve policy change and input into the Government agenda: The Institute is recognised as the go-to place for regulators and Government.

6. We continue to develop our research, knowledge and insight capability: to demonstrate our credibility, influence, reach and competitive advantage through our breakthrough research the UKC SI, bespoke and insight consultancy work.

7. We extend our standards and quality capability. We are strong on quality assurance, high standards and modern methods of delivery, activity will focus on setting and embedding standards that drive cultural change and organisational improvement.

8. We have the right Infrastructure, skills and capability: invest further in our people and systems development to ensure we are agile and easy to do business with.

9. We launch the ‘Service University’

Institute Of Customer Service
Strategic Report (Continued)
For the year ended 31 March 2026
- 12 -
Full list:
Activate Group
iD Mobile (Currys)
Adare SEC LTD T/A Mail Metrics
Karndean International Ltd
Aptia Group
Marks & Spencer plc
Arches Housing
Medicines and Healthcare Products
Brook Green Supply
Regulatory Agency (MHRA)
Bury Housing Services
Merseyrail Electrics 2002 Limited
Castles & Coasts Housing Association
National Grid Ventures
Chubb Fire and Security UK Ltd
Parentpay
Costa Coffee UK Limited
Progressive Building Society
Coventry Building Society
Sage Homes Limited
Crawford & Company
SAUL Trustee Company (STC)
Drax Energy Solutions
Scottish Citylink Coaches
Elements Materials Technology
Starling Bank
Gateway Qualifications
STERIS Solutions Ltd
Gentoo Group
TJX Europe (TK Maxx)
Holland & Barrett
Vodafone Limited t/as Talkmobile
HSBC UK
We Love Holidays Ltd T/A loveholidays
Wise Payments Ltd
Institute Of Customer Service
Directors' Report
For the year ended 31 March 2026
- 13 -

The directors present their annual report and financial statements for the year ended 31 March 2026.

Principal activities

The principal activity of the company continued to be that of a not-for-profit professional body for customer service.

Directors

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

Joanna Causon
Jonathan Cowie
Giles Hawke
(Resigned 30 June 2026)
Shirley Fell
David MacLeod
Graham Edwards
Chris Pitt
Jacqueline Starr
Auditor

In accordance with the company's articles, a resolution proposing that Gilberts Chartered Accountants be reappointed as auditor of the company will be put at a General Meeting.

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 with the fact 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:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- 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 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.

Institute Of Customer Service
Directors' Report (Continued)
For the year ended 31 March 2026
- 14 -
Small companies' exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Joanna Causon
Director
8 July 2026
Institute Of Customer Service
Independent Auditor's Report
To the Members of Institute Of Customer Service
- 15 -
Opinion

We have audited the financial statements of Institute Of Customer Service (the 'company') for the year ended 31 March 2026 which comprise the profit and loss account, the balance sheet and notes to the financial statements, including 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 March 2026 and of its deficit 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 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 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.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the directors' r eport 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.

Institute Of Customer Service
Independent Auditor's Report
To the Members of Institute Of Customer Service (Continued)
- 16 -
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 identifie d material misstatements in the directors' r eport. 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' exemption in preparing the directors' report.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, 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.

Explanations as to what extent the audit was considered capable of detecting irregularities, including fraud
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. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed in our approach below:
•
We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council and UK taxation legislation.
•
We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.
•
We enquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. There are inherent limitations in the audit procedures noted above, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
•
Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance, miscellaneous receipts and payments testing, journal entry testing, analytical procedures and obtaining additional corroborative evidence as required. In doing so we evaluate whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
•
We recognise that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
Institute Of Customer Service
Independent Auditor's Report
To the Members of Institute Of Customer Service (Continued)
- 17 -
•
We communicated relevant key laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud and non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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.

Amanda Ruggles (Senior Statutory Auditor)
For and on behalf of Gilberts Chartered Accountants, Statutory Auditor
Pendragon House
65 London Road
St Albans
Hertfordshire
AL1 1LJ
8 July 2026
Institute Of Customer Service
Profit and Loss Account
For the year ended 31 March 2026
- 18 -
2026
2025
Notes
£
£
Income
5,455,406
5,338,636
Administrative expenses
(5,963,648)
(6,022,146)
Other operating income
136,000
-
0
Operating deficit
(372,242)
(683,510)
Interest receivable and similar income
204,888
200,359
Deficit before taxation
(167,354)
(483,151)
Tax on deficit
(50,545)
(49,345)
Deficit for the financial year
(217,899)
(532,496)
Retained earnings brought forward
542,010
1,074,506
Retained earnings carried forward
324,111
542,010
Institute Of Customer Service
Balance Sheet
As at 31 March 2026
- 19 -
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
4
69,820
83,213
Tangible assets
5
75,853
91,837
Investments
6
1,000
1,000
146,673
176,050
Current assets
Debtors
8
1,699,276
1,688,376
Cash at bank and in hand
5,636,013
5,421,753
7,335,289
7,110,129
Creditors: amounts falling due within one year
9
(3,809,008)
(3,499,774)
Net current assets
3,526,281
3,610,355
Total assets less current liabilities
3,672,954
3,786,405
Creditors: amounts falling due after more than one year
10
(3,328,843)
(3,229,395)
Provisions for liabilities
11
(20,000)
(15,000)
Net assets
324,111
542,010
Reserves
Income and expenditure account
324,111
542,010

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 8 July 2026 and are signed on its behalf by:
Shirley Fell
Director
Company Registration No. 03316394
Institute Of Customer Service
Balance Sheet (Continued)
As at 31 March 2026
2026
2025
Notes
£
£
£
£
- 20 -
Reserves - members funds
324,111
542,010
Deferred income:
Amounts falling due within one year
2,741,269
2,621,796
Amounts falling due after more than one year
3,238,036
3,137,088
Total adjusted reserves
6,303,416
6,300,894
Deferred income relates to non-refundable membership subscriptions.
Institute Of Customer Service
Notes to the Financial Statements
For the year ended 31 March 2026
- 21 -
1
Accounting policies
Company information

The company is a private company limited by guarantee incorporated in England and Wales. The registered office is Ground Floor, 4 Gainsford Street, London, SE1 2NE.

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” and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit and loss.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is the total amount receivable by the company for services provided, excluding value added tax and trade discounts.

Subscriptions of members are credited to the income and expenditure account over the period of the membership, after deducting 20% for selling costs. Subscriptions are not refundable.

1.3
Intangible fixed assets other than goodwill

Intangible assets are initially recorded at cost and are subsequently measured at cost less accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Intangible assets acquired on business combinations are recorded at the fair value at the acquisition date; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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:

Intellectual property rights
20% straight line
Software and website
20% straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation, less any subsequent accumulated depreciation and impairment losses.

Institute Of Customer Service
Notes to the Financial Statements (Continued)
For the year ended 31 March 2026
1
Accounting policies
(Continued)
- 22 -

Depreciation 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:

Leasehold improvements
10% straight line
Fixtures and fittings
15% straight line
Computers
25% straight line
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in surplus or deficit.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 and Section 12 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price 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 fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

1.8
Taxation

The company is a mutual service organisation and all activities of the company are exempt from corporation tax except for interest received, income on investments and chargeable gains.

1.9
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.

Institute Of Customer Service
Notes to the Financial Statements (Continued)
For the year ended 31 March 2026
1
Accounting policies
(Continued)
- 23 -
1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases
As lessee

Operating lease rentals are charged to the profit and loss account in the year in which they are payable.

1.12
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
Auditor's remuneration
2026
2025
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
17,430
16,600
3
Employees

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

2026
2025
Number
Number
Total
40
44
Institute Of Customer Service
Notes to the Financial Statements (Continued)
For the year ended 31 March 2026
- 24 -
4
Intangible fixed assets
Other
£
Cost
At 1 April 2025
342,600
Additions
24,480
At 31 March 2026
367,080
Amortisation and impairment
At 1 April 2025
259,387
Amortisation charged for the year
37,873
At 31 March 2026
297,260
Carrying amount
At 31 March 2026
69,820
At 31 March 2025
83,213
5
Tangible fixed assets
Leasehold improvement
Furniture and equipment
Total
£
£
£
Cost
At 1 April 2025
84,741
94,855
179,596
Additions
-
0
5,191
5,191
At 31 March 2026
84,741
100,046
184,787
Depreciation and impairment
At 1 April 2025
24,265
63,494
87,759
Depreciation charged in the year
8,474
12,701
21,175
At 31 March 2026
32,739
76,195
108,934
Carrying amount
At 31 March 2026
52,002
23,851
75,853
At 31 March 2025
60,476
31,361
91,837
6
Fixed asset investments
2026
2025
£
£
Shares in group undertakings and participating interests
1,000
1,000
Institute Of Customer Service
Notes to the Financial Statements (Continued)
For the year ended 31 March 2026
- 25 -
7
Subsidiaries

Details of the company's subsidiaries at 31 March 2026 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
ICS Services Ltd
Ground Floor, 4 Gainsford Street, London SE1 2NE
Dormant
Ordinary Shares
100
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
ICS Services Ltd
1,000
-
8
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
794,593
1,190,731
Other debtors
18,550
15,250
Prepayments and accrued income
886,133
482,395
1,699,276
1,688,376
9
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
131,705
152,629
Amounts owed to group undertakings
870
870
Corporation tax
50,531
49,359
Other taxation and social security
302,451
386,919
Deferred income
3,226,029
2,808,401
Other creditors
35,574
23,921
Accruals
61,848
77,675
3,809,008
3,499,774
10
Creditors: amounts falling due after more than one year
2026
2025
£
£
Deferred income
3,328,843
3,229,395
Institute Of Customer Service
Notes to the Financial Statements (Continued)
For the year ended 31 March 2026
- 26 -
11
Provisions for liabilities
2026
2025
£
£
Dilapidations provision
20,000
15,000

The current lease for the Institute offices includes a requirement to restore the property to its original condition. A provision is made each year to cover the estimated cost of the dilapidations being £5,000 per year over the 10 year rental agreement.

12
Operating lease commitments
As lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:

2026
2025
£
£
Total commitments
485,153
575,257
13
Members' liability

The company is limited by guarantee and does not have share capital.

The liability of members is limited. Every member of the Institute undertakes to contribute such amounts as may be required (not exceeding £1) to the Institute's assets if it should be wound up while they are a member, or within one year after they cease to be a member, for payment of the Institute's debt and liabilities contracted before they cease to be member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories themselves.

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