REGISTERED NUMBER: 09576666 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Publishers Audience Measurement Company

Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Ms E Holden

Ms J L Allan

D C Carter

A Crow

Ms J M Gooding

Ms S Merali

D C Tickell

G L Griffiths

SECRETARY:

Ms A Sharp

REGISTERED OFFICE:

Pennine Place

Office 204

2a Charing Cross Road

London

London

WC2H 0HF

REGISTERED NUMBER:

09576666 (England and Wales)

ACCOUNTANTS:

Brewers Chartered Accountants

Unit 3

Birtley Courtyard

Bramley

Surrey

GU5 0LA

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Publishers Audience Measurement Company Limited for the year ended 31 December 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Publishers Audience Measurement Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Publishers Audience Measurement Company Limited and state those matters that we have agreed to state to the Board of Directors of Publishers Audience Measurement Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Publishers Audience Measurement Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Publishers Audience Measurement Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Publishers Audience Measurement Company Limited. You consider that Publishers Audience Measurement Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Publishers Audience Measurement Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Brewers Chartered Accountants

Unit 3

Birtley Courtyard

Bramley

Surrey

GU5 0LA

16 September 2026

FIXED ASSETS

Intangible assets

5

1

1

Tangible assets

6

4,269

7,085

4,270

7,086

CURRENT ASSETS

Debtors

7

68,739

133,991

Cash at bank

1,256,024

1,166,074

1,324,763

1,300,065

CREDITORS

Amounts falling due within one year

8

294,107

139,614

NET CURRENT ASSETS

1,030,656

1,160,451

TOTAL ASSETS LESS CURRENT LIABILITIES

1,034,926

1,167,537

PROVISIONS FOR LIABILITIES

1,769

1,768

NET ASSETS

1,033,157

1,165,769

RESERVES

Income and expenditure account

1,033,157

1,165,769

1,033,157

1,165,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2026 and were signed on its behalf by:

Ms J M Gooding - Director

1.	STATUTORY INFORMATION

Publishers Audience Measurement Company Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of annual subscription from members and sales of audience

measurement results across all media platforms, excluding value added tax.

Annual subscription from members invoiced or received in advance are deferred to the accounting period to

which they relate. Sales of audience measurement results income is recognised in the period in which the

services are provided.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Software development costs are recognised as an intangible asset when all of the following criteria are

demonstrated:

- The technical feasibility of completing the software so that it will be available for use or sale.

- The intention to complete the software and use or sell it.

- The ability to use the software or to sell it.

- How the software will generate probable future economic benefits.

- The availability of adequate technical, financial and other resources to complete the development and to use or sell the software.

- The ability to measure reliably the expenditure attributable to the software during its development.

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated

useful lives, using the straight-line method. The intangible assets are amortised over the following useful

economic lives:

Software development costs - five years

Tangible fixed assets

Tangible fixed assets are measured at 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 calculated to write down the cost less estimated residual value of all tangible fixed assets, over their expected useful lives as follows:

Fixtures and fittings - three years

Computer equipment - three years

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised

estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised

immediately in the income statement.

Financial instruments

The Company only enters into basic financial instruments 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 non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research is written off in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

Where the company expects to make, or has made, a tax claim for allowable expenditure, these amounts are

accrued to the extent that they are considered to be recoverable. Where there is a tax refund due, this is

included in the UK Corporation Tax charge

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday

arrangements and defined contribution pension plans.

Short term benefits:

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an

expense in the period in which the service is received.

Annual bonus plans:

The company recognises a provision and an expense for bonuses where the company has a legal or

constructive obligation as a result of past events and a reliable estimate can be made.

Defined contribution pension plans:

The company operates a defined contribution plan. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate fund. Under defined contribution plans, the company has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

For defined contribution plans, the company pays contributions to privately administered pension plans on a

contractual or voluntary basis. The company has no further payment obligations once the contributions have

been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid

contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

1

14,000

14,001

AMORTISATION

At 1 January 2025

and 31 December 2025

-

14,000

14,000

NET BOOK VALUE

At 31 December 2025

1

-

1

At 31 December 2024

1

-

1

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

752

28,370

29,122

DEPRECIATION

At 1 January 2025

752

21,285

22,037

Charge for year

-

2,816

2,816

At 31 December 2025

752

24,101

24,853

NET BOOK VALUE

At 31 December 2025

-

4,269

4,269

At 31 December 2024

-

7,085

7,085

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

37,431

102,261

Other debtors

10,153

10,000

Tax

14,803

14,803

VAT

-

20

Prepayments and accrued income

6,352

6,907

68,739

133,991

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

173,192

14,806

Social security and other taxes

38,367

15,162

VAT

49,042

-

Accrued expenses

33,506

109,646

294,107

139,614

9.	OTHER FINANCIAL COMMITMENTS

An agreement with Ipsos MORI UK Limited was entered into on 23 December 2024, agreeing service levels and fees for years to 31 December 2025 and 2026. Under this agreement, the commitment within 1 year is £1,718,690. Commitments relating to the year ending 31 December 2026 is the same as that of 2025 subject to indexation for inflation.