INSTITUTE OF CONTEMPORARY ARTS LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Sayer Vincent LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The accounts have been prepared on a going concern basis. The auditors have indicated that a material uncertainty remains, primarily reflecting the timing and control of certain income streams. The Board agrees with the auditors' conclusion but remains confident that the ICA's strengthened controls, confirmed funding commitments, and recovery plan provide a sound foundation for continued operations.”

Group structure

1. INSTITUTE OF CONTEMPORARY ARTS LIMITED · parent
   1. ICA Enterprises Limited 100% · England · non-primary purpose trading activities

Significant events

• “The 2024-25 financial year marked a period of significant development for the ICA's Artistic Programme, beginning with a strategic review of programming structures and internal coordination following the appointment of Steven Cairns as Head of Artistic Programme in May 2024. This led to the introduction of a unified quarterly model designed to improve cross-strand alignment, enhance internal scheduling, and present a clearer, more accessible offer to the public.”
• “Following a major organisational restructure, we have worked hard to rebuild and reenergise our internal culture - prioritising care, transparency, and collective ambition.”
• “Our 2025-2030 strategy sets a clear course: to lead artistically, grow sustainably, and engage deeply.”
• “The Reset plan introduced in May 2024 was critical in stabilising operations, reducing costs, and sharpening focus on income-generating activities. Performance in 2024/25 delivered a modest deficit, slightly under budget, supported by a major unrestricted donation. Liquidity in 2025/26 has been reinforced by a business rates refund and the expected proceeds from Damien Hirst edition sales.”
• “During 2024/25, the ICA introduced a suite of system improvements to strengthen financial management, streamline processes, and improve real-time oversight: Enhanced cash controls, New accounting system, Business intelligence tools, Timesheet automation.”
• “In October 2024 we began the re-development of the membership offer, launching three levels of membership: Concession (£30); Membership (£60); Membership+ (£300; £20 monthly)”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -14%

  £2,725,203 → £2,343,584

• Cash

  -17.1%

  £460,809 → £382,208

• Net assets

  -10.4%

  £1,842,096 → £1,650,921

• Employees

  -13.4%

  82 → 71

• Wages

  -16.5%

  £2,010,317 → £1,678,672

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers