INSTITUTE FOR FISCAL STUDIES(THE)
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Cash
£1m
-42.2% lowest in 3 filed years
Net assets
£6.1m
+18.5% highest in 3 filed years
Employees
90
+5.9% highest in 3 filed years
Profit before tax
£1m
+145.9% vs 2024
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £9,563,521 | £10,670,404 | £11,344,957 | +6.3% | |
| Operating profit | £505,431 | £221,802 | £878,095 | +295.9% | |
| Profit before tax | — | £410,486 | £1,009,395 | +145.9% | |
| Net profit | £714,070 | £561,152 | £947,283 | +68.8% | |
| Cash | £1,414,301 | £1,730,646 | £999,942 | -42.2% | |
| Total assets less current liabilities | — | £5,113,832 | £6,227,090 | +21.8% | |
| Net assets | £4,552,680 | £5,113,832 | £6,061,115 | +18.5% | |
| Equity | £4,552,680 | £5,113,832 | £6,061,115 | +18.5% | |
| Average employees | 80 | 85 | 90 | +5.9% | |
| Wages | £4,237,900 | £4,794,853 | £5,072,782 | +5.8% | |
| Directors' remuneration | £571,186 | £612,734 | £501,984 | -18.1% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 5.3% | 2.1% | 7.7% | |
| Net margin | 7.5% | 5.3% | 8.3% | |
| Return on capital employed | — | 4.3% | 14.1% | |
| Gearing (liabilities / total assets) | — | 46.3% | 42.8% | |
| Current ratio | 1.32x | 1.42x | 1.48x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Moore Kingston Smith LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“IFS has modelled and stress-tested its cash flows and this work concluded that it will have sufficient liquid resources (cash and investments that can be converted to cash) to continue to operate for at least 12 months from the date of approval of these financial statements. The members of the Board of Trustees have reviewed this work and are happy with the methodology and conclusions. They thus remain of the view that there are no material uncertainties that call into doubt IFS's ability to continue. The financial statements have therefore been prepared on the basis that IFS is a going concern.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
10 active · 48 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ARMAH, Winifred | Director | 2023-11-01 | Aug 1976 | British |
| ATHOW, Jonathan Thomas | Director | 2014-07-15 | Nov 1973 | British |
| BELL, James | Director | 2015-12-14 | Aug 1976 | British |
| DHINGRA, Swati, Prof | Director | 2023-11-01 | Sep 1980 | British |
| GASKELL, Kevin Harry | Director | 2024-09-16 | Nov 1963 | British |
| GREGSON, David John | Director | 2018-11-28 | Jun 1956 | British |
| KANE, Peter Ronald | Director | 2020-06-26 | Nov 1956 | British |
| MAWHOOD, Caroline Gillian | Director | 2018-11-28 | Jul 1953 | British |
| O'DONNELL, Augustine Thomas, The Lord | Director | 2015-12-14 | Oct 1952 | British |
| TIMMINS, Nick James Maxwell | Director | 2015-12-14 | Sep 1949 | British |
Show 48 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COLLIER, Richard Stuart | Secretary | 1995-07-10 | 2006-04-24 |
| GAMMIE, Malcolm James | Secretary | — | 1991-07-05 |
| MENZIES-CONACHER, Ian Duncan | Secretary | 2006-04-24 | 2019-11-26 |
| TROUP, John Edward Astley | Secretary | 1991-07-08 | 1995-07-10 |
| AARONSON, Graham Raphael | Director | 1994-11-21 | 2004-09-27 |
| ADEBOWALE, Victor Olufemi, Lord | Director | 2004-11-29 | 2007-05-10 |
| ALEXANDER OF WEEDON, Robert Scott, Lord | Director | 1992-07-06 | 1999-05-27 |
| AVERY JONES, John Francis | Director | — | 2002-02-04 |
| BROOKES, Martin Douglas, Mr. | Director | 2011-06-27 | 2014-05-19 |
| BUIST, Robert Cochrane | Director | — | 2001-07-03 |
| CAIRNCROSS, Frances Anne, Dame | Director | 2007-10-15 | 2015-12-14 |
| CHAMBERLAIN, Emma | Director | 2007-10-15 | 2008-09-22 |
| CHOWN, John Francis | Director | 1969-05-21 | 2026-04-01 |
| COLE, Margaret Rose | Director | 2012-11-26 | 2020-04-28 |
| COLLIER, Richard Stuart | Director | 1992-07-06 | 2006-04-24 |
| CROHAM, Douglas Albert Vivian, The Rt Hon | Director | — | 1999-04-26 |
| DAVIDSON, Christopher Kenneth | Director | 2008-12-01 | 2018-11-28 |
| DEE, Nicholas Charles | Director | 1999-09-27 | 2008-07-15 |
| ETHERINGTON, Kenneth | Director | 1992-07-06 | 2003-04-28 |
| FLEMMING, John Stanton | Director | — | 1992-04-06 |
| FREEDMAN, Judith Anne | Director | 2004-11-29 | 2011-01-30 |
| GAMMIE, Malcolm James | Director | — | 1997-07-07 |
| GREEN, Katherine Anne | Director | 2004-11-29 | 2009-12-02 |
| HOPPER, William Joseph | Director | — | 2015-09-21 |
| ISAAC, Anthony John Gower | Director | 1993-07-12 | 1999-04-26 |
| JOHNSON, Christopher Louis Mcintosh | Director | — | 1992-07-06 |
| KING, Mervyn Allister | Director | 1999-05-27 | 2003-06-30 |
| LIEVESLEY, Denise Anne, Professor | Director | 2008-12-01 | 2018-11-28 |
| LOMAX, Janis Rachel | Director | 2007-10-15 | 2015-12-14 |
| MAYNES, Jeremy John | Director | 1992-07-06 | 2011-09-26 |
| MENZIES-CONACHER, Ian Duncan | Director | 2004-11-29 | 2019-11-26 |
| MILES, David Kenneth | Director | 2011-06-27 | 2021-12-31 |
| NICHIONNA, Orna Gabrielle | Director | 2020-06-26 | 2022-01-01 |
| POWELL, Richard Roye | Director | — | 1991-03-08 |
| PRYCE, Vicky | Director | 2010-11-22 | 2012-11-05 |
| REDSTON, Anne | Director | 1999-09-27 | 2011-01-25 |
| RIDGE, Michael | Director | 2016-11-21 | 2024-09-16 |
| ROBSON, Mark Hunter | Director | 2008-12-01 | 2016-11-21 |
| ROBSON, Mark Hunter | Director | 1997-11-17 | 2004-07-12 |
| RYBCZYNSKI, Tadeusz, Professor | Director | — | 1998-12-18 |
| SILBERSTON, Zangwill Aubrey, Professor | Director | — | 1992-07-06 |
| SKINNER, Jeremy John Banks | Director | — | 1992-02-03 |
| TAUBE, Nils Otto | Director | — | 2008-03-11 |
| TAVERNE, Dick, Lord | Director | — | 1991-11-25 |
| TILEY, John, Prof | Director | 1993-07-12 | 2003-06-30 |
| TODD, Douglas | Director | — | 1992-07-06 |
| TROUP, John Edward Astley | Director | 1991-07-08 | 1995-07-10 |
| VICKERS, John Stuart | Director | 2003-06-30 | 2007-10-15 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 204 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-17 | AA | accounts | Accounts with accounts type full | |
| 2026-05-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-04-08 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-05 | CH01 | officers | Change person director company with change date | |
| 2025-07-30 | AA | accounts | Accounts with accounts type full | |
| 2025-06-23 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-06-23 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-06-23 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-04-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-25 | AP01 | officers | Appoint person director company with name date | |
| 2024-09-18 | TM01 | officers | Termination director company with name termination date | |
| 2024-06-20 | AA | accounts | Accounts with accounts type full | |
| 2024-03-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-11-08 | AP01 | officers | Appoint person director company with name date | |
| 2023-11-08 | AP01 | officers | Appoint person director company with name date | |
| 2023-06-22 | AA | accounts | Accounts with accounts type full | |
| 2023-06-19 | AUD | auditors | Auditors resignation company | |
| 2023-04-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-07-28 | AA | accounts | Accounts with accounts type full | |
| 2022-03-31 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.