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Registered number:
(A company limited by guarantee)
FOR THE YEAR ENDED 31 DECEMBER 2025
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JICMAIL LIMITED
(A company limited by guarantee)
COMPANY INFORMATION
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JICMAIL LIMITED
(A company limited by guarantee)
CONTENTS
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JICMAIL LIMITED
(A company limited by guarantee)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors who served during the year were:
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JICMAIL LIMITED
(A company limited by guarantee)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The auditors, Barnes Roffe Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board on
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JICMAIL LIMITED
(A company limited by guarantee)
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
The chairman presents his report for the period.
2025 was a year of continued progress for JICMAIL as we strengthened our position as the industry’s trusted currency for mail and further embedded our data, tools and thinking across the wider marketing ecosystem.
Brands, agencies and the supply chain are increasingly using Jicmail data to make strategic decisions on how best to reach their customers and prospects, which in turn is leading to growth in the channel for the first time since digital transformation began. To sustain the momentum, the Board remains focused on ensuring that JICMAIL balances gold-standard measurement with continuous innovation such as:
∙The increasingly positive response to the Super Touchpoints framework launched at our conference in January at PwC, was supported by roundtables, workshops, webinars and conference activity throughout the year.
∙A series of important product developments, including postcode modelling, the integration of TGI audiences into JICMAIL Discovery and the launch of a new Carbon Calculator in partnership with Print Green, ensuring that subscribers have access to increasingly sophisticated planning, targeting and sustainability tools
∙Significant expenditure continues on website redevelopment, data integrations, sustainability tools and AI-enabled planning initiatives positions the organisation well for future growth.
The year saw particularly encouraging evidence of mail’s enduring effectiveness. JICMAIL data recorded some of the strongest engagement levels seen since our measurement began;
∙mail read rates reaching a record 77%, surpassing even those during the pandemic.
∙across all four quarterly releases, mail continued to demonstrate its capacity to act as a powerful "Super Touchpoint", driving attention, engagement, purchase behaviour and digital interaction.
∙Website visits generated by mail reached five-year highs, online purchasing continued to grow, and increasing numbers of consumers used mail as a gateway to digital channels, highlighting the unique role mail plays in connecting physical and digital customer experiences.
The second Response Rate Tracker 2025 extended JICMAIL's effectiveness credentials, while the annual Door Drop Report highlighted the growing contribution of the channel to marketing performance.
Our Platinum Partner programme continued to grow, reaching 26 accredited organisations, while training and learning initiatives surpassed 2,000 certifications.
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JICMAIL LIMITED
(A company limited by guarantee)
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
JICMAIL strengthened relationships with key industry partners including the IPA, DMA, SMP, IPIA and BPIF, ensuring that mail remained a visible and influential part of industry debate, effectiveness discussions and professional development programmes. JICMAIL’s role as a Category Partner in the industry-wide Media Mind competition introduced mail planning and effectiveness concepts to a new generation of media practitioners. Such engagement efforts supported our broader objective of making JICMAIL data a habitual part of planning routines. Positive results from the Origin panel integration work, ongoing technology reviews, the renewal of our Kantar agreement providing forward visibility on our major cost until 2028. The quality and quantity of insight and engagement that Jicmail is producing is a credit to Mark, Tara, Ian, Ken and the whole team. They are passionate, committed and responsible for Jicmail’s success. As I stand down as Jicmail’s inaugural Chair after more than ten years, I am immensely proud of the impact Jicmail is making and certain that it’s influence will continue to grow in 2026 and beyond.
NameChristopher Combemale
Chairman
Date23 July 2026
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JICMAIL LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JICMAIL LIMITED
We have audited the financial statements of Jicmail Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of income and retained earnings, the Balance sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In 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.
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JICMAIL LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JICMAIL LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.
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JICMAIL LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JICMAIL LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,includingfraud and non-compliance with laws and regulations, was as follows: The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the relevant sector;
∙We focused on specific laws and regulations, which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and ISO standards;
∙We assessed the extent of compliance with laws and regulations identified above through making enquires of management and inspecting legal correspondence and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙Making enquires of management as to where they considered there was susceptibility to fraud, their knowledge of actual suspected and alleged fraud; and
∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙Performed analytical procedures to identify and unusual or unexpected relationships;
∙Tested journal entries to identify unusual transactions;
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JICMAIL LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JICMAIL LIMITED (CONTINUED)
∙Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
∙Investigated the rationale behind significant or unusual transactions.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
Leytonstone House
3 Hanbury Drive
London
E11 1GA
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JICMAIL LIMITED
(A company limited by guarantee)
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
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JICMAIL LIMITED
(A company limited by guarantee)
REGISTERED NUMBER: 04123433
BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 11 to 14 form part of these financial statements.
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JICMAIL LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
JICMail Limited (the “Company”) is a Company limited by guarantee, incorporated in England and Wales. Its registered office is 1st Floor Rapier House, 40-46 Lamb’s Conduit Street, London, United Kingdom, WC1N 3LJ.
The principal object of the Company is to create, develop and maintain a measurement service which will assess and establish a value from an advertising and marketing perspective for direct mail, received as a hard copy, delivered through a postal service.
2.Accounting policies
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:
The company has achieved a modest profit this financial year and this is in line with the directors' expectations. The principal object of the company is to create, develop and maintain a measurement service which will assess and establish a value from an advertising and marketing perspective for direct mail, received as a hard copy, delivered through a postal service.
The company has reviewed forecasts for the next twelve months and whilst losses are expected the company estimates that its funding levels are adequate for the company to continue as a going concern. Accordingly the accounts are prepared on the going concern basis.
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JICMAIL LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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JICMAIL LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Other reserves
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JICMAIL LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
During the year the Company made pension contributions of £1,654 (2024 - £1,538). Included within creditors at the year end are amounts payable of £368 (2024 - £350).
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.
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