Company Registration Number. 04238862 Charity Re9islration Number.. 1133396 Centre for Engineering and Manufacturing Excellence Limited Annual Report and Accounts for the year ended 31 December 2021 ceme Centre for Engineering and Manufacturfng Excellence Llmited Annual Report and Accounts Contonts Chairs Foreword Chief Executive's outlook Legal And Administrative Infonnation Report of the Trustees Statement of Trustees, responsibilitses Independent Auditors, Report Consolidated Statement of Financial AGtNities Charity and Group Balance sheets Consolidated Cash Flow Statement Notes to Ihe fi.nancial ststemenls Page 14 15 18 19 20 21 Centre for Englneerlng and Manufacturlng Excellence Limlted Chalrs Foreword I thi5 nott just a ftsw v￿￿kS after all Covld-19 r¢$tri¢Uons in Eng18nd were lifted by Ihe Goveininenl. 80 2020-21 has been another extraordinary year in many waysl But, despite thè challenges. l èm delighted lo be able lo look back on a remarkabty posilNe year for CEME. Worting together wlth our customers, and whh a constant focus on bost practlc8. H•8tth and Safety rneasureB, closety following UK govemmant guldellngs, WB managgd to keep the ¢ampus open and servi¢ing our customers every $Sngle day. Furthermore. we conllnued Ouf wlde ranging and ambiti￿5 plan to offer support lo organisalions in the healihcare, omergency so￿1CeS gnd related erfl*AI Industrf•s vth•r•v•r w• eould. Th• CEME ovent spaco hostod malor trslnirtg programm&s for gmerg¢noy worker tralnln9, Including new clients like the London Fire and Rescue sgNko, th9 NHS and any more. Throughout ihe pandemic, the CEME team ensured a safe campus and worklng &nvlronmgnt for our employees. cuslom8r8 8nd visrtors and this remain8 a key consideralion as the UK moves into the 'new normal, following lengthy lockdown$. But. as I Ihls. l am pleased lo confirm the Campus is close lo 100% full and IhrNing. We have just Dmmenced f3¢x-t￿fdc8 Gemept bu51ne85 nehvorklng evenrs, whkh ale free io our own customers and to wNler busingsses in the lo￿1 communty. lo help Ihern grow fasleT through Inknmal trdlnlng and bu$ines5 development OPPQrtunitiet. Thi6 16 # key of ¢wr charitable Bocl81 investment progrnmme. whleh seeks to h¢lp drive economk developrnent in east London. The CEME boarrt continued lo meet regular￿ throughout the year and is further developlng Ms strategy for fuiure gro%th. Core themes to our new Btrateglc plan Indude, to grow reSponsIb￿ by developlng nBw s8rviGe8 8nd competendes to support our customers and our charitable alms and Impact oblectNes. To inspir8 environm8ntal change, wSlh a dual fcvjs on OUT own envlronmontal porlornanco and InvaÈimant on tho London ¢gmpuÈ. a]on98idè davdopng BervkeB and spo¢e to support new envlronrngntal tachnOl￿ enlreprengurs lo grow faster. As part of Ihls wo￿, we were dellghled lo recelve £75,￿0.00 fundlng from SEGRO lo run a Gateway lo Skills programme for IoGal School sludents. Th5s ￿11 lead to over 1000 students vlsltlng CEME to partlGipatt In a STEM la•t¢r day ovef the perbd 2022-2024. CEME is also working wlh tsvo partner organlsalions MAKE UK and The Data Anatysi3 Bureau lo develop a Dlghal Manufacturing Appr8nliceshlpFramowoTk al Level 314A and Is 81so èXF4orln9 ￿SIneSS oppOrtUn￿e$ In prenliceship End Point A53es8rnents within our sector. The recent government announcement of the first slage approval for a Thames Freeport. 1$ another realty exaling development that CEME expects to ￿uPPOrt, and wc a￿ workSn9 Wth the partners to o¢hi¢v¢ thot oirn. CEME i? elao supportlng the development of a 'Hydrogen Corrfdof Involvlng partners in K8nl, Essex and London- Ihls proleGt Is being led by the Thames Estuary Grovhh Board and is another example of the many Opportunities on our doorstep. AfteT 15 years as the Chlef Executfve for CEME. Blll Wlllarns slepped down from hls rolg In Janu8ry 2022. Blll achleved a great deal and, ¢Juring hi8 tenure. CEME went from strength lo strength. On behalf of the Board. I thank Blll for hls excellent servlce and vAsh hlm every success and hopplness fcf the fuiure. CEME was and remains an ambit*)us regeneratSon project almlng lo transform the manufaoturlng Induslry In th8 south- east. changing live5 through busine85 growth. and 50 the Selection of a new CEO was an irnportanl task. l am deli9hled lo report the B08r(l appointed Noottam8n Rashkl to the role from 1 April 2022. NO0￿man has knowledge of engineering and industry and brings a wealth of business experience to CEME. He looks forward to working across communities, regeneration, qualifications, and young people to further support the engineering and manufacturing sectors. I rofiacl on the pa81 year wlth a 68n68 of prfde for wh8t has beon achlevad. grAUiudo to tho board and MAdèr CEME tè•m. forth&lr achlevements and oxdt8ment for %that lays ahead und8r tha l&adgrshlp of our new CEO, Noorzaman Ra$hid. Valerie Le Vaillanl OBE Chair, CEME Centre for Englneerlng and Manulacturlnu ExcellenGe Llmlted Chiof ExoCUtiv•'s outlook As we emerged oui of Ihe ryuellesl parts ol Ihe pandemt In 2021 Inio 2022. buslness an¢J Inaustry nave regrouped themselve8 to tackle the new roalilies that face them. IncreasSng cost of utilltle8, the Nl Increases, Infiatlon and the imp9 of the situation in Ukraine wll contribute tg uncertainties for business planning and resourThng. CDrnp3ni8s of all #ri*# arÈ tsrapplino wlh thè l#Auè# of fi•￿bI9 and hybrid WDrking irnpacjlnu thoir ngetl for wrk.$pav￿. As ataly5t for busine56 growth CEME'5 GuslomerB want to remain on the c4mpus whlch they see as good for growSng their busine$se$. Our polnt ol dlfference In Pro￿dIng hlgh quallty ftexlble work- spa¢0 with added support foi new and start-up busine83e¥ continue3 to aet u? apart ecroaa the v*ider reg¢on. D8sprt8 th8 th3118ng81 011118 pandèrn￿ CEME staff wortetj Ur81ossty to k88P th8 Campus open 2417 vhth Ihe hlgh•st kvels of CDvi(klg PrO￿￿u[e& in plaGe tg tnaximlse heal¢h 5eGUrtly wh115t 5UPPUrtIHg OUT GU5tomer5 In atry way we can provldlng confidence and assurance. Th18 has resuKed in the campus being dose to 100% OGGupancy. Supportlng key blue light services further helped CEME lo make a positive contribution lo tackling Ihe challenges of the pandemSc whSch w¢ pre vory proud of. As we mov& forward wo I￿11 fvrlh&r leverag& our events space, whlch is slgnFficant ointrfbutlng lo Ingjme generallon that ¢8n support our alm of changlng Ilves through buslness grtrlrth. The fjovemmenis Leveiiing up agenao ￿M)ined our ODJe¢¢NO$ of pfoinoD"ng economK regen8Tawn whilst thCKimg deprfvallon h85 Put CEME centre stage in the Tegion. Wothino closely wth nelohbourfnq lo￿1 aulhorSlles and those arged regeneration we remain in a strong p0s￿on to 8UPPOrt growth along the Thames Estuary and trom East London. Whilst w¢ have foar$$ed on engineering and manufaduring, a¢knovA¢dge that the rapKI evolution of led)noloqy, part￿￿7￿Y In 4u¢ottwliuii yiid Ili¥ lul¥ LTrf d¥¥lyii 0[￿ iJuw iJiui¥ irilEyral¥d Ihan y￿r beftjre. A5 a tcsull. WB wlll bEgln to engaye m¢)rt* •¢ro8¥ th*•• indu•tris$ ioining th• dol• to •tr¥nsthen ¥ur Gumulative efforts. The hou•ing règeneration inf(18live8 close lo thg cgmpus 18 ￿gInnIng lo ¢hangg Ihg styling another strong Sndlcator of gr￿h and prosperity withln the regK)n. A6 1 lake on Ihe reiglls as CEME'5 new Chief Executive, l am Gonfidenl Ihal we ￿￿11 collaborate with partners nallonalty and regionalfy to make an incr¢a¥ed wntribulion lo ts¢kling ¢¢onomi¢ artd $0tyg1 r¢g¢n¢ralion. Working more closety wth •mploygr4 and industry lead•rs Includlng tho nwAy ostablished Freo Ports IB a priority. Th• gkills agènda and need for apprenllceshlps across the many strands ol englnèerlng provide CEME vAih a foothold lo play a larger roie m Increasing tne flow of tsient to Inousiry. /vC* NooRamJn Raehld Chlef Execulfve. CEME Centre for Englneerlng and ManUfaC￿rIng Excellence Llmltsd Legal And Admlnlstratlve Inlorniatlon BOARD OF TRUSTEES Volerie Ellen Levaillant ICh•lrl Mark Williams Ichief Executive Officer) R¢signed 13101r2021 Noorzarnan R85hid ICh¢•f Exetsjtfve Offitwl Appdntod 01104r2022 Goeffrey Richman Judith A￿rtt Keyvan Diamarafli Yvonne Kdty Findlay Mac*lpin• Barak Mooz Neil Andtsw Slubblngs Èssandro Attana51D K.K.Dherani IChi•l Financ• Offic•rt Howard Bratter Ford Motor Company Barking & Dwham Col*0 LorKfon Borough ol H￿ring Ford Motor Company Appoir*ted 29103r2021- R•5igned 0510712021 Appointed 06112r2020- Resigned 1610312021 SECREfARY IQK.Dher8ni Ichief Financ8 Officarl Howord Br*tt*r IfiMn¢¢ Dir*¢lorl ApwnbJ 2910￿021 . Rui0n￿ 0510712021 Appdnt¢d oe112r2020- R*tyi9ngd 1Fm312021 REGISTERED AND PRINCIPAL OFFICE CEME Campus Marsh W8y Rainharn. Ew RM138EU COMPANY NUMBER 04238862 (England and Wales) CHARITY REGISTRATION NUMBER 113JJgG IEn9land ond Wo1¢•1 AuD￿OR5 Crowe U.K. LLP 55 Lud9at8 Hlll London EC4M 7JW BANKERS B8rd8yB Bpnk 1 GhuTchtll Place London E14 SHP SOUG￿ORs Forstfrrs LLP 31 Hill Street Lonuon W1J5LS cen￿ for EngIn￿rIng and Manufacturfng Excellence Umltsd Rgportoftho Tru8t¢*ts Tha Tw8te88 of the Certh for Engheerfny and Mwnufvcwrring Excellenc8 Umrted Ihereafler 88 CEME LtrI.l are the charty$ Tru5te•¥ undEr tharity law 8ThJ the ¢Jlr8dors ol th8 Charl1ab￿ Mmpany. Th8 TnJs188s of CEME Ltd. prn¥effl Ihetr Athnual RBPUrt fDr IhE year en¢￿ 31 08Lember 2021 und¢r ￿ ¢hgrl¢l8$ Ad 2011 8TrJ the Compan￿8 Ad 2006, In¢￿(r￿j lh9 Dtredors. Report togeth¢r *ith the audited finand statements for the year. CharM8blo Obleets obl¢Gis for %*hiGh Gompany Is e5taWished obleGlsry Ihe ProTh￿t￿n lor fv PUt￿G he￿t11 ol utbon or wral r69eneraLh)ii Ill selected afeas of So￿81 and economlc deprfvallon In th8 Boroughs of Y￿r Hamlets, Hac*rw, Nvwharn. Grea￿Ch, BÈW, Bafklro & Oagenharn, Ha¥erfThJ, Thu￿￿¢. Watham For8sl. Redbndge. L￿ShaM. Enfield. Ftsrfngey and Oartlord Ilogeth8r th8"boroughsl. R•vl•w of strai•gl¢ Alm• Ind K•y OblKtIv• Th• CEMRVhlon. Ch•rtulng Ilv•• through b￿1n•&i CEME Is commltied to crB81ing pr05writy hi the S8Gtor5 and cornmunllles ft 5erv8s. through the cTrallon of an 8nvlFonment vthere busknèss grNth acceleraled. U88￿ng r￿ ern￿OYment opporturllth. fadllallng tr8lnlng aTrJ devdopment ar￿¥1￿8S lo help Smpmvg ts thar¥Jes th•t Ixal r8skJ8nls d8v8lop Ihe sKlls. aplKTA8 aTrJ attllude ￿0ded 10 s￿re and thr1¥8 In th088 n8wS0k. The CEME m￿sknn Is lo Ye￿r prosperity in reg8rnr8tion 8TBaB by cre4Ury grth¥th p8rtn8rshlp¥, Part￿r$hIpS cyportYrt￿03 In fftanufaduring. e￿I[￿ring ond lechnolooy.. CEME are 8mWded In. and proud Io 8UPPOrt the IJK manufaciuring, 0￿￿ering and technology 88ctoTr. CEME look for Opport￿￿￿$ to ¢ye818 8conomle prospefity gnd gm%%th In gregs Ih8t m8y be overfooked, or %%t)N gI118voldgd. beeAu98 ￿ ￿￿116￿0 10 crè810 economlc gr￿￿*h ￿p￿￿rg lo ￿ 11DlSk4y lo CEME b01k9Vos th81 ro0onw811on th￿￿)h ovjnomlc ar￿4￿h ¢# po%￿b￿} 8tAk8htsWÉVB iogetherw (wte hsplrfng projects. We è(**v8 am8ano oulcomes throuoh fonTrlno effecU¥e partnersh￿8 vAth key slakehold8r8 from •rd PU￿1¢ se¢lor lo ¢re•te Ispiring pr¢ieds tha¢ serve the communrftes y￿lI￿n their k)cèf5ty. We work %%ith partrv orgaNS8￿￿￿1 to del￿¢1 • Se￿¢4 that, through eyrien¢•. $￿pport$ increased buBine88 SLuess ¥md grovAh forotsr customers. We P￿￿de cJJslomers wlth omc48, tsb Bpac8, rnachIr￿ Y•JfAshoFe, prolotyplThJ fara￿leS, bu￿ne88 aTrl fundlr4 sklD&, 8pprerfc8shlp$ and more. CEME'$ womlse k lo do Its b8St io I￿e our values * provldlrya our oBtom8r8 ￿ an I￿PIratIOnal emilromTrèntfor18arnlng and busI￿sS gruwlh, we knowltworks, and ￿ rJJstomèts builntsÉè$ growfasterx a rèsutt. CEIIE V•lu We developed our Va￿￿5 worklry dD5ety vAlh aJ51omer5, empToyee5 and 5tokehokler5. A¢ CEME, ￿ belleva that 3 fundarnenlal Ir8redlent or a¢h￿￿ng our VI￿On of changlng IIVBS through buslne5S gTrthth Is uThJerplnned by hNwe do Ihlngs a5 much as Ithal we do for our oJston*r8. Our oltilude. bÈhav*)urand deuslons should be e*8Cted through the lens of our valL*8 8t all Imes. ih81 ￿ ourgo81. We bdleve Ihal our ojstomets, our Suppl￿r$ and our8mpk)yees experten¢8 of CEME conslslenlly Impro¥e6 be¢au$e ore ¢onstanlty gukjed by our valup5 In our dedsian makiw. We c0nllnuou￿Y ￿aM from our mistakes, ￿ Imprwe any knp8rtethon$, afyJ7ht are ¢ommitt¢d tg wulor and Gontknyou? Srnprgy¢rrffjnl th¢ hlgh •l•rthrd•wo h•v• In I￿Ing r￿ry&lue4. Pr•sentatlon- CEME ga$8ionale a1￿ul f*sl Imores&fm. Tr Impad and IMp￿an￿ of the CEME en￿ronMent In $u¢¢*ss fLYour slomers Is paramount lo us. We endeavour lo be Immac￿8* in Ihe pre5enlalion of the CEME ¢ampu5. ovrf8cli ilk5 aTrJ our 51aff al aN I1￿￿5. WIHY Pr•B•nlatlon? We are 8 S SIAr lthl for bu81r￿S aThY ￿8￿ wr ryJ5tomw8 are S*￿1vj to knpr858 In¥e8torn. rerauK rv 4mJoyees, serJrefundlw. I￿n ￿￿￿JS1Orn￿5. partner5 or suppym they4houh1 feel woud and exaled lo IrNtte Ih8m al CEME. Excgedlng ExWcts￿om•. CEME aims lo IMr￿￿ 811 of our ¢u$tomets ￿th the servi¢e Ihe¥ rec* from our staff and p8thers. We*ill 8￿y9 ty ow best lo be dear on what ￿ prom15e lo our uj51ow￿r5 and thEn grye vur bes1 efforts lo exceEd tyjr vJstDmer5' expeclallorffj of Ihat promLse. WHY Exc￿dIng Expctatlon87 We b￿18¥? ihal r￿) orn comes to lo ¢Jo a bad lobl Fru5traUon In bU51T￿sS Can often arfse from a laok ol rjarity on what one per50n. or organi¥8lion. k8 doing for anolher. Twklng Ilrm lo bo doar at Ihv 0￿3￿1 on your uJslornerf5 expBctslions reduras mk%und¢rntandlngs, savlrvJ Ime 8nd MLWY. Then you work ￿ out IotJ8Nv8r ah￿d ollhose expectalID￿. Po*lUv• Altllyd•- A¢ CEklE embrace enthus￿yrn, a carHIo Btfftude. e8gem885 lor Impvovoment and 0]n￿￿ Intenl 81 Umes. We strfve to ernpluy 8rn1 wjrk op1mlst￿ ¢olK8awe$. use poswve languag8 and ha¥e a I￿￿¥0 ou￿0cl. Centr• for Engln•èring and Manufacturlng Excell•nc• Llmlt•d R?port ofth? Tru8ts0• VIHY PoAWva AtMlud•711 is a great to live your rts. We ueate a po$rfwe alm￿Phere 8t GEPAE by Ythat** sty ond how ￿ ¥wy11, we lfft IhEfs. peop￿ love lo be positive, ￿ gNe them the opportvnthes and enIhU￿a$ffl lo do iusl that becau5B tt kad5 to happler people aChIe￿Nd even more, tndwklualy and colle¢tlvety. Perhap$ more Impryt8nltywe beth th&$ lepds to m￿e cortenl and hap￿er colleagL*5. cusIDrners ond famles. CEME eonts'nues to Idlver • econtynl¢ lfflyct In Eost London aro Ihe *ldèr Thomes E￿Vory 4re4 s&)ce ils wning in 2003. CEk4E bringe tQgelher ompl•yer#. edu¢stor8. 4kSlh. gnd IrHlnlng orognl891ionB In y u￿qUe gnd off0¢1rve way- dollvèting f8eler bu#intrEs grawlh ￿1¢h UPskn'11inG 8nd training of Ioc81 ￿skIen[S. The outcome ￿ 81rf¥6 lor companth fa$l¢r, beiNJ more ambilioys, findiTha, and devekiplno cal18*nl. Companies growfaster. on and off the CamF￿￿ local resklents partkTpate Sn IhL8 gr0￿h, as emplwes, as trAJsHiess 0%W￿rS Bnd 8$ Gu$tomers and $YPWiers Of GEME. 10¢8led 81 CEME ar￿ f8sler. whlch was e¥KIenr￿ by our 2020 Sodal Imoa¢t ￿￿rt. This independent TepDrt found that bu5inesse$ on Iho GEME c8rnpu$ hève h)b growih of 3.1% , rnore than seven IimB$ the naiional avernge . We ran 25 dedlcaied btss(ness support evefits, over 5,000 peo￿8 wyre upskilbd al CEME everfs space al ¢¥er 370 eV￿ts 8nd bn adthtional 27.000 pecpk ¥J8re upskIl￿d at CEME by M's tenants. As 8 res￿1 In 2021 CEKIE customer¥ created 97lobs. kllnei have been runnltvJ the Ford Motor Company ApprenU¢e$hip Propramme from CEME fDr 10 ￿Or5, Utr151TrJ a nwth>er of the engkn88rfr Shop and d#ssrnDm rètyiflies 10 oelwerApp￿nts￿ training. CEME proviue$ an ideal Space tv Inlrodure lechnEcal ewSneerfry educatk)n In safe and cleon wothng environment that ploc*$ 8 slgnlfl¢ant emphgsls on the Healh, Safely aThJ ￿lIbe1t¥j of it$ tenants. Th15 ha5 been pa1￿CulartY evkjent durfno our c0vir￿19 retum lo ￿[k plans whlch. ¥%llh 8UWOrt and collaboration of the CEME team. TAP have ithknvqd su¢¢es$fulWfhrfs K￿ny. Head of Delfvery, Sknlnet (Fud ApprentI￿￿{P Programmel rmm it4 e•¥t London ¢prnpu• CEME hgab a rnnge of publlG prlvate oryanlJthnJ dplwng.. ComrnBrd81 bu51ne5s trèlnlng Small buslnes5 SUPPOrt and devety¥meTrt Tralnlng and educ4llon In buslne55 and related sludles Appr8nlic8ships and reE8ted eoucatlon In englneelng and lechrk)￿llY sedors TrainirKJ for the oublic sedor A le¢hnol¢9y $tsrt.up innovation ¢*rdre A ￿rfd ¢la$6 event $pac* operolon Ipporung Inwurd Inye•lm¢nl loth• rg9￿n Publ1¢ Bw•fft CEME8 Board of Trnsiees regularfy monHor and re¥lew Ihe SUC￿58 of the orpanl8alL¥I In achlewThg Ils alm lo create fa$t¢r Ort￿rprfSe gro ad￿ to Increased levels of ern￿oy￿ent In Ihe ccThmunil￿5 tt ser¥e5. ThB Tru51ee5 confinn that they adhere, observe and rnonllor the guldance a5 publLshed by Ihe Charfty Cpmmlssion undeT sertiDn 4 Df CharifSe5 Acl 2011 re¥￿ing ts charfty's alm5 and oblectfve5 •nd In plamhg fijlum act1¥￿&$. ThÈ Truste￿ confi¥m, In IwJht of thè guhJanL*, thaithÈsè alms,. fulty mgot th¥ appllBublB wblk benefft test5 and that th8 8ctfvtt￿5 ofthe charlty. descrfbed In thTs report underfoursp8thc alms, Bre ￿rtaken kn pursuH oltl¥xe 8lm&. Th• TNts1￿$ revlw thg acU¥lttes &el out the RR2 under the Promotsoft of Urban ar￿ Rural R•geMraibn for publk b•tt•fft In aro•$ of $od•l and 8¢woml¢ deprfvab¢n. Th? Chorly ¢ommbslon •$ o chorttabkn pwpose re¢ognlsed th1$. What CEME do0• On East Londcffl campLts CEME good gualty, hlgh sptrdfitst4￿ a¢coMffttsdalttn fttrtralnln9 tsokthrhs provk4er&. In addffjw to lechnkal d8ssroDm5 and farAl￿e5, CEME pravKles 11$ Qjstomers with exten$N¢ ¢ngineering •nd te¢hniMI wryksPnp5 •nd Ipbs equlpped a rangE of ifieering and woduct de￿gn. lesl and devdopment equipmenl. CEME 8180 0￿ra1￿ an Inno¥&llon centre wnd 8 L8unthp8d slprt up r4ntr8 on the campus. proV￿l￿g hvJh quallty offlc8 and workshop 8pac8 10 •ypport eaty Stage grth¥th and slart-up ￿lness￿. CEME aims lo prowd8 these cu8lom8r5 with 8 ￿￿t0p shop for buslness 8UPPOrt seTvlce8 s(Mce. all sirnad it 8ce8ler8thu oroyrth. East London Tech Cirde and COME￿ art exampks of IhB pop￿￿ ￿ts￿lI1ng events thal has* grLrrfffl In mulority. C*spite Ihp challenge8 01 Covid 19 . CEME still delivered 8 w￿MMe ol bu5hBss nets¥arklnp and Support d•nvtrrnd r*. In person even18 relwned to CEME In Septernber 2021 afvj Ihese 8ervke8 are 8(med at halwng b￿n&&$ i)wws ond m•n•o¢rn grow laster. The Launc*pad Cenlre Is almed ai 5UPPaTUrvJ SlBrt Ups and Very earty stsge oTpanlsaUons. Thls off8r Indudes crpworftlrKJ, hot d85*. fixed dB5k and Small Dffice spa¢xs ID kl for rajstomers. Ouraim ts to remove barriern lo enwurage mure Start￿pS to exploit opportunities lu the Jllost 6xt•nL Tre L8un¢hp$d ¢u$tom¢r$ tenefft from o tgiWJr¢d pmoTrmm¢ lo $L4)port 8ttdernted lliowth. Centr• for Englneerfng and Manufacturtng Extfjll•ncg Llmttèd R•portofthe Truste CEME ha$ 8 dedk8t8d Event Spa￿ pjslomer offeth. Imm strnp￿ rooms for or more PBopl8, to exerJJlve board r￿rn$ aTrJ futyristlc POD Ihe8lrev4here ergan￿li10n5 can host a*ido ranoe of Thetings and èvents. The fiexibilty olspact oftrino has been realty￿1 rtceivÈd by slomer¥ durtnu Ihe Covbj 19 PandemK as thèy ea8ity fiex up and In of spa¢a on caMPUS. using event spa£È as on lap 8Odllond sp8Ge lo Offic￿ accDmmodaticn. ThÈ &venl space offer is carefulty knven Into" Iha CEME offer- brfngifKJ local business ovmEfs onto the campus 8nd In the pn>ces8 helplno ra188 thelr aS￿ra￿D￿ for busine58 gruwth. The Launchpad Cenlre 8L80 offer8 a rnThJe ol talkjred pr&Yuc18 and s8￿ceS to a Yade rawe of wblicand PriVi¢e ￿￿5. CEME. 85 part of a publlc benefft inthlive. host5 a Hydrooen TEfudlino Slalion IHRSI m the c3mpu5. in partnership Yalh ITM Power TradlrvJ Umtted. TNS f8dlty Ma¥ been avallabk lo Ihe public Sin￿ 2018. In earfy 2022, we expect io comp￿ts a svJiifi¢anl upgrade Bnd expansion of Ihl& laclty lo￿l¢0me an *wmased of ryJ5tomers utlising thi5 f*o1ity. This math8 the in¢re•sed ublisAtion of th15 *reenerfiJef in Ihe UK. Thu HRS pnd CEMES yrtnernhip ¥Alh ITM Pl¢ b on ¢x¢dlenl•xampb olNgh value maN)fat#urfng Collabora￿on In the The kYesen¢e olan HRS producUDn and ludFinu faolity on the CEME ¢ampu$ also 6eM$ a$ 4 sigrMcafflwnoiogy¥ernonsy8iorth EO$1 Of Lon(TM ora*ing toresl and ¥i$lts from 8 vlde range of Intere51ed parUe5. Th15 mlx of prfv¥le and publi¢ sethor •¢•viUes $eN¢$ to ¢¥eats •n oul$tsnthr¥J off¢rlorlhe Wl ¢mNnlty. CEMEwort$with10¢o1 ¢duutlpn In5Ulullons. sGhools, Further Edutalltsn h CDlleges aTrJ ￿n￿er$the$ In a va￿ty of ways all aimed al improving the opportunil*s and aspiralon5 oftrrt ￿¢aS ¢ommunlVeJ CEME ?w¥c•. The G•l¢woy Io yk11￿ progrommc r¢tvrn to Ihc bcn¢fl of loc•1 p¢hoolGhlhlrcn from Aprfl 202Z aft•r •n absonte of tt¥o years due lo the pandemlc. CEME eslabilshed Elulec, a UnlversltyTechrfc41 Cdlege (UTC) In part￿rShIP *ilh lth1fv8rsfty Colty LoThlon IUCLI and Ford In 2014 and we welcome students onlo the campus forwork expetsnce and placements 8v8ry year. In adduon to thp 100 bu$ln¢s$8$ oporaUrMJ on thg campus, a dlverse MLK ofbuslness delegates reg￿Y alteTrJ balnlng and semlnars In the Event Space. CEME fiJrthBr delfvern proorommos to tslp its oJ$lomers to r•outt. rolaln and dav8lop lalent., p￿￿￿lI¥j patltrtsys lor local 0mplo￿r$ lo d•wknp support 8 4trkfrrt•, o•n•r8lrvJ bu$lness grtyrfi •rO and ￿11th forthe kneAI ¥••. Aehkn•rn•nt• •nd P•rforrn•nE• Alm 1: Provlde •ducatlon, trnlnlng Ind rn-tThlnlng oppOrtunMI￿ and WQTk •xp•rf•n The Londo) S¢hocl of Academk8 ILSAI, an award-wlnnlng provhJer ol teacher tr8lnlny educalknn that corllnues lo flwrfsh at CEME. LSA gro￿ plDn• hw3 now d•v•lgpod Juth thBI PItt￿ llre under4Ytsy tts awir& 6 VfiNeMty 8ttslu8. LEA ia pÈdiCularfy aeknye IA pfavidinq teÈchlng rare8r Iralnlng ￿adIng to hl3h 4U8Hty 8mpbymenl OPPDrtUnll￿¥ for￿U￿e partitspofits, fflany ofvthom come ￿ Ihe progrnmmes unemployed. In 2021 the Evont sp￿ 8t GEME wdcomed over 5.023*JeWtes purdylor the purpose ofed￿￿￿￿ ¥nd tr¥knhu B¢ro¥$ 374 kam¥dayB. In 2022, we e%pecl lo more dosely wth Barklng and Dagetham Gollege. The rnllege have Gfymmffted lo hElping u5 deHver Dur G81tr*ty10 SkllL% programme. They have a150 agaln ￿mm￿tled lo h3￿n9 a b05e al CEME lo prDmolE thE In5tlbJte of Te￿n0￿By prO9￿mMe to Iwal Gamobutalon witt) CEMC. The event S￿£¥ L* an ullra.m¢dèm ÈvÈnl8 and meellngs ¥enue offerfng InMvalve aThY fi?￿ble solulknns for meellThJs requlr8ments from 8 Ngh- 18th conferenc8 #uoii¢fEum, Ihe CETrAE pop to smaii mèeuronrainiNJ rooms, conterence, exhi)￿On antt OthOOOT space. Appr•ntl¢Hhlp¥ CEME15 home lo the Ford Motor Company eThJln8erfno aFpr8nlce prour8mme IFAPI. enjoyed anolhqr Very sUcC￿fi￿ year. In 2022. th• Intaktr b exp¢Lxed ¢0 Increase to creale mrx8 OPPOrtunllle51o yowrfj peopk8. TvFhiik•l Thalnl11 D￿Thll the year CEME hosled a Wmle range ol tethnical tr&nirffj In H# ￿thShOps and prnctkal ¢￿sSroomS Induding Integrnted M2ryJfadurfng S*lll$, Mutt￿ks1￿n9 lele¢trfrAI lor mech8n1￿1 ènd methankal for •lectrfcall. a￿¢tronIcS modu1•8. w*k4ino, proornmmabl• Its￿¢ contr prour8Thmln9 #nd tesury and enBlneÈdng heatth and safety. CEME Is F¥oud lo ￿ thB hom• of F•$1 TraIrkn￿ S￿¢¢$ delfver t¢thnlcal s￿11$ and TralniThJ Co￿Se$ foi the rall In 2021 F85t ?￿arthd thdrfoolwknl furth•r In ord8rto dÈlIV￿ adth11on￿ pradlcal tralrthd ￿rSe$ In the CEk4È ￿rkshO￿. Alm 2: H•lp un•mployod p￿p19￿nd 9￿￿19YmO CEME conJnuès to host 88S8ssment C8nlr8s for th8 reCI￿OnI of a v3rf8ty of 8mployTh8nt opportunttle5 IndLhlln9 appren￿Ge$, entry lev t•¢hnlcal and safety trahlnglcerllficatlon fw seclNs such as the constructbn and All. qual5fi￿ teache￿. medleal $laff and a ho$t of0t￿r •mploym6ni aL￿¥￿e$. In 2022, 8 newweb pag8 wlll be rdeased on the CEME webslte whlch wlll allow rJJslomw5 to adv8th8 newlob mles. lurther $Umulats ourlob creatlon largets. Centre for Englneerlng and Manufacturfng Excellence Umlted Rèportofthe TruBte Alm3: Pmldt 8upMrtto bu*lno810# whortr It toids totrllnlng 4nd ¥mpIo￿￿t opportunttles foruamiployod p•opl•. The CEME InnovatTon Centre provldes office and wor*8hop space and rel8tad $ert¢& to SME8 on fiexibb terms th8t en8b* thom lo take up accommod8tlon v*lhout the of prohSblt5ve lease paYTh￿t8 8houfd Ihey suffw a than081 d¢xYnlum. In additlon, • rnrge oflminess SUPPOrt SeMC•S 1$ provided 1¢ support act•￿r9￿d gr￿th. Durfng 2021 the CEME InnOva￿On Centre wuvld8d offlo SPBC8 and I￿51n856 WPPOrt frf ov8r 100 sm¥1 tw&(r￿sSeS. In kooplr¥J*th pr8vknus year5 Several lenan15 expanded durlryj the year. eHectiv£ly OU￿r0￿￿V ihe Innovation CAnlre. Some of IhAAg ￿￿tOm￿r￿ movéd ￿thIn th CEME GarnPUS to largerprem15B5. One exOrnp￿ Vi¥e Scooter5 a green-tqch buslness. who has enjoyed Iv48 growth slnce slarllNJ hls bu5he55 al CEME In 2020. Anolher15 recwttment aThl tralnlnB bu5kn055 TopaL 4bhJ oulgrvwthBlr Small sludlo In 2020, optkng for a18Tge ?¢rth¢ and ¢yndlre 8galn 81 Itt¢ cnd 012021. Alm 4.. Prnild• land and bulldlnp on favourabje temm to In ordgr to trklnlw •nd •mploymwt opportunlllm for •molov•d p•oD Tho CEME Innovalon Contro pmvkl8s a valu8bLg r8sowce lo local busln•ss88 and tntr9pre￿tsIs. Tho ¢4ntr• provhJ8s hlgh qual attr￿ModAttOn and Support on a glmplo'lho You Ig thè rJrfrA yau pa￿ tlj kiArt4TP hi1s1nRR￿￿ th An ofvdaNe and knwAsk accommodalth s￿￿On. Thls allrarli¥e offerfry Is eviden￿y rneoung a rwod and ¢ffilnu8d to enjoy ocrJJpancy lewlB tn excess of90% over the year. CEME created new small offiw at the of 2021, Ihal K*ro Immod￿￿ty let. W8 brfng addlllonal •m•lkr onlln¢ In 2022 lo 11 growkw Gys¢ornqrd•m•tvJ. Forbuslnesses, loo &m411 lo afford an olnce In a buslness cenlre, CEME offers a *lrtual lÈnan￿. Thi$ servk• Bnable5 a knkness 10 ha¥e a front desk s8￿ceS atthe Inno¥8lon Centre and use Ns m8elng rooms. Thè lftnovaU(x) Contro $UPPOrts many IDCWI rnlcro.busln8888B lth lh￿ Bar￿￿ lh￿￿hOUtlh8 yew. LOOJQNG AHEAO •t CEME C￿11179 2020 CEME dev8low* a fo¥ 9i(MUI. Tfrn) tsiiderplniliilg plll&& ol It￿ &iYaitsyy iiitairt lu yiuw 1¥swirolL)ty, ￿Ul u fvws uii n*18￿1¥MI¢S th•1 dèlivèr a posilW Impa¢t and su$¢8lnabk* yrfomi#n¢e ¢4mprom￿ry #n en￿rOn￿ental oxerylar. Ttds b h¢y owraio the campus and th& bvlkllng$ w￿n fomilrvJ the p8rtner6hlps. In 2022Trh* are planning ID bvl for ￿ndIng lo start a hydroge focu56ed Innov81ion ¢ontro on C•mpu$ in partnorship ¥*ith Ihe Unlvotsty of KBni •nd ITM Moiwe. Thè newly emeryJlng Thame5 Freeport a 11￿￿jerf￿ opportunNyforCEIIEto d8lW8r o succMs the ¥￿erTh8￿&8$ Esttjgry In coll8bor8lon I￿1h parthgrg. CEME IB commttied to supporting more and TnDre treBTrtethnok)uf otg8nl5ats￿ts. We crew from 10% owJp8ncy vAthln Gr88n tethnokngy to 17% 81 thB end of 2021. We plan lo h112S% DW)anry of technologf bu5irAsses by fv end of2023. In April 2022, our Gateway lo Skills programme Ylll resyme *ttlth ￿11 580 ovè¥ 1.000 early 8écondary 8tLtd8nls come to CEME lo learn aboLI STEM ISO8nc¥. Tethnology. Enslne•rfng . PJ•lhem8llcs18nd to enwur8ge th888 8tudenL8 lo ton8kt8r c*r8ors ￿¥thIn Ihose Bubled8. Fundlnu forthi$ programmew48 ¥opJred lorthls proiecl In18te 2021. AI LEME ¥￿ Y•Jlk In pamersnip vnin regional an¢ iocai govemmeni, iocai and n8rion81 ur International employer5 ano eBveiopB15 10 undersl8r¥S ts tocwl economic landscape rege￿ratiOn alms and needs. Using IhB infiuential capilal of comrnrce, the 8ocEal c8pit81 of loc81 govemmenl and the phy5ic#I cjpital of supporU¥• ￿8¢*$ our Is lo pull ttyelher p8rt#orstV lo delh*r ambitlou8 prol8ct8 to meet the specific amknlion5 of B communty. Thè CEME Mod￿ doo6 not retyon 8Xt6rn81 fundlna or8UPPOrt to d8lN8r on Tls *Aslon afvj th¥itabk• akn8. STRUCTURE, GOVERNANCE AND MANAGEMENT Tre finarriol stsiemnt$ *llh ￿r14n1 $tslutory requlrwwntj. the Memorandum gnd A￿¢￿$ of Assor¥alon and th• Ch8Tkns SORP FR5102. C*ntse f¢r Er#Jir*•rffj •nd ManufodurfTrJ ExCol￿n¢￿ ltradlng 8$ ¢EME"I b ¢01*￿t￿ted aB a ¢ompony limited by •u¥8rlee lrng*ir8Uon mber 042388621 and 1$ goveThd by M8mor8TrJtm aTrJ Arld88 of A88&SaUon CEME registered a ¢harity Irwstration number 1133396} in December 21X)9. CEME Enterprtse Llmlled 18 a reu￿tered company nurnb8r 7115923 Inc4Jrpornl8d on S January 2010 gndls a**￿)IY $ubsk1Lqry OICEME. Tr* ¢harityh?d no fundrai•lrvJ aCh￿tIPs raqthng dtscthure under Sf62A ofthB cha￿￿0&A￿ 2011. Centre for englngertng and Manufa¢turfng Ex¢g119ncg Umltod R•port olthe Tru8tee8 Th¢ Boprd olTrus1tt8, who Ore al30 dwecthrs charityiorth• wrposes ofthe Cornpan￿ AGt, hav¢ ov¢rnll for the 4lre¢Uon, mantyotmeni ar￿ eontrol of th8 Ch￿ty. k dIsc￿￿e￿ below, some of thesè o¢NU•8 ara d8legabJ to Su￿¢*Mm1￿￿S of thB BDwrd. Overal, oper8ti0n81 rnanagemerrt ot¢EME L8 ¢Jdqgaled lo the E¥evJt￿e offi￿￿. The 604rd 15 SUb￿t ID a maxlmum 0112 and a mlnknum of 8 diredors. Undw th8 arf1th5 of as5Dd8lon. the composlUDn of the Ih)ard Is 8S lollrfths.. Three dlrectors appolnled by Thrnbe￿ of CEME.. One rOPrtuentaUYt dlT*Gtar nomSTrat•d by FO￿ Molorcompany o On• ropr05enlthe dlrethr ntynln*¢d by H•vertrq Cowe of Furfh¢r and Hlher Elu¢¥l¢n and BathT4 and ￿9•nhOM Col*8 (BrKI o One rapreseniatfve dlrector nL4mlnat8d by Ihe London Borough olHw£rfThJ Uonal direciots appolntèd by tha board, th $08ch1c8w8rt*9 Onè sertlor indtrpttndènl nttn4xaCu￿ Ctr8ctor ID prtsvldé b￿[ne$S And rxxnmèrtial Addttional non*xocub¥o dlroths a5 rqqulred to provkl& oApbrt #dth• on subl8¢t #rè#s cl reT8varKe lo ceME Such 48 skllkn qduc411on. b￿1￿055 development. Tvy&noralon h￿a￿ve$. ar￿ Manufac￿￿N9, ongknwrlno and i•thTrJbJyto the 808rd Oiie IlOii*xecuU¥8 dIrec￿[ io act a8 Chalmian 8xerAtho dlre¢a¢r8, belnB the ChWEwJv& Olker and Chk91Fhx*l Offic•r The oYrector5 gppointed by members $m sonior 8xe¢ubvos In thos& oroanb8i￿n$. Ford k8 mwosent•d by a seniDf OMfAfvè of Ford 8rftaln. The Col￿a89 by ￿ Colloge Prfndpal & CEO 8nd the London Borough olHaverfng by rts tjlroctor0l￿bahbouthO0d5. Adlroclormay hold th¥1 oifKo for an porfod of threa ￿rI, thls ￿ raWa￿e a mtstu•lty agre¢d b￿16. Typi￿1￿. the board meets 61x ¢0 Ight Um9$ Pgr ￿¥r. New dlTrctorn af8 lTrJuth 1hro￿h g fomal proce8s. a ¢OMpTehens￿e brfefing wlth the Chlef &¥ecuVv8 Officer and 8 5Ne In add￿On lo a numberololh8rlnlllaUv88. The Tru$t¢e$ and monrtorthe finanoal perfomance of the Charfty. foresee3b￿ s(gnthc8nt everts and rf8k8 af8 analy88d artt1 th￿r pos8iNe finandjl Impgd Is Investigaled *ith co￿£t1¥￿ acbon taken 8$ n8c*8$8ry. Through¢ut the year, Ihe Trustees conlknued to monttor the eff6cthen885 gnd o¥eraU tern8 Df [thr￿a 4ub cornffth85. io e￿Ure Ihey e roll￿ng best pra￿¢8 In the Sector. The Board appolnl$ Th￿be[¥ ofts Audll CommtttEe, NDmlrtalon5 ComrnNlee and thE RernunerntiDn CDmrnftteB. ThfrAudltCommiti8¢. ualty meet8 Ilme5 8 year and the Rernunernuvn Cornmmee are made up olTru5tee5 *llh rdevant S￿115 8nd expBrfenr4. Remuneratlon Commthee support5 the Boartl in reVE￿ir￿j and selling Ihe remunern1￿in of the Ex2uAfve diredoTS. The ￿mU￿ration pror*dw• IB dis¢hArgod by ￿ chalr. NOrnha￿On Cornrn￿ rBvIM candldales forthB appcthnlto the BDard m8kknll recommBndalon lo th& board on thg appplntrnenl5. ¢ÉME's approath to remfftratk)n IS d&s￿n￿￿ 10 eiisurew* #itrn¢* •nd rel8in the I¥￿nted •rKI motw•ted peop￿￿ need lo Jthie¥e ¢ur Yision ono rteiiv8r our siraiegr goals. 1115 appl￿0 Mll5Lsienity aGr055 the ￿panIS￿lI￿n. we awn to pay fjirgno GDmpewvely In Ine DDI profll se￿or INn tho context of affordability and con8irleMng Ihe complexty of eath rgb. CEME links pay lo perfom¥nco and pro￿￿￿¥ ¥alary progre88lon for Ihose delwer exceptional perforniance. The level of rem￿Tru0n Is benchmarked to LYgani88b"on8 in the are8 of 8lmiLqr type gnd compkth. independent con8ullants carry out. on a reguL8r ba￿8. the b&nchTnB￿in9. The ChY8f ExecutbV8 8TrJ the board 35 •pproprl8te tren ggree Ihe reMw￿l￿[b. Tho T¥u8teES arn 8W4rn of th8 Ch8rYty Governan￿ Code publlthe(f In 2Q17. whkh 8915 Out th8 P￿ndP￿S and r8comm¢nded prath lor good 90vern8nce Ihe Sector. Thp TrusteB$ reyularty dixu55 ￿tst wa￿1¢* 8t CEME Bogrf Meelinys ortd sabsf*d Ih•i Ihe Ch#iity e prfndples oflhe ojde vithln ilB rJJrenl Governance aryanyemenls. A bogro s¢N••lu8lion e¥erci6e 1$ plonned forearty 21)22 R•l8tod Partl•g CEME operate8 B *tholty sut)51dlgry CEME Enierpfise Umited, th1$ Is • ¢ommerclal organ1￿￿0￿ Ihat condu¢ts the Gontsrw Centre Ine5E and henL* Is a felaled party lo the charlty ICEME Ltd). CEME L% ￿jorthe common rk)ntrol of Ford Motor Cornpany, LoThJon Borough of Haverfng. Haverfng co1￿& of Further Educatlon, Barklng and Dagenham Covfjge. The ¢omp8nie$ of A$s￿a￿an as arnan¢￿ In October 2019 stale that each of Ihe above 18 a rnember of CEME. AS 8￿bE[ ¢Jf GEME ih¥y Ii¥v¥ Ilylil iv ¥vvuliil o d11¥￿Ul iu CEME ixjuid ￿[￿17 ai¥ Iiul¥Q iii Ui¥ Se￿vI? OL￿¥￿. nitt Givulvi Lu1￿017 A￿emblY rents to GEME Ihg 19nd on CEME Centre ol Excdlenco is FAl8d on 1 125-ygar lea68 •1 • poppercorn ront. It also ￿85•$ th• Inno¥atfon Gentre on a 125-y8aT ka88 at a P8PPBrcom rBnL The uttlmale freehokler 15 the Forf Motor C¢mpony. 10 C8ntro for Englnggrlng and Manufacturlng Excellenco Umlted Report oftho Tru8ts0$ RNANCIAL REVIEW Tradlng Porfom*nce CEME'S p￿n￿paI Income kn d8rlv8d from fee8 charged to U88rn of the CEME wovhJeB a provhl¢b*d enthmerl lor p￿￿tterS ol educDtton Bnd 5*1118 and tBlknred offic8 space and 5UPPOrt serteB to bLLskn858es. TN8 Inc*m¢ L% augmented ty rwenues from 8 tridiw subsldiary thai rtm5 a tonference centse at CEME. The8e ￿venueS arE dk%d05Ed a5 Income. on Consolbjaled Slalernenl of Fkn•nd•l Ath¥lUe8. CEME *)pernles a fiumbef ol buihgings on Ils park, tho m•ln bufftllng thot aets)mmod8les Ihe pwderyd for Skil￿ 8nd edu￿1￿￿￿ offrce space ae well ae thè conf¢r•nc• untre. Othor bvlkliDge Include 8 wholty dwolvd Innovalion contr&. CEME'¢ for1￿ yeaTw&S £3,912,270 and IhÈ adju$ted Ios$ T8 Q53.819 Ilhe loss a deprerlal(on charge of t￿,3211. Prfor ￿Or revenue w•$ £3,511,150 •nd #dI￿ted of £266,194 lthe Toss SncTudes 8 depreoallon charge olE893.2251. Ao wffjnlon8d above, thg event spar* bLBill8ss ij run through A wtholly ¢yfftd Iradkng $ub¥hli8ry naIr￿d CEME Enterpth Ltd. Re¥enues ftfthe ye8rofE413.183 wilh 8 profft of£84.883. PriDryear revenue £312.720 a wofil of£372. ThE Bccommodallon costs forthe t￿)fer￿ Ixntre are In ¥￿th rates pahj by malor C￿18 In 0lh2r parfs of Ihe buik11n9. Duth 2021 ihe event spac4 expefienced a signthc&nl improvement in businÈ$8 f0Th￿n9 tho #laoed relaxation ol UK aovèmmoni rnslrtctlons. Thè *￿nI 4)ac* l# an important repeneTa1￿n offerinll as part of the wderCEME modd tsnd impad objadivè6. Pollcy Total fimds hdd 81310oComt*r 2021 amun1￿ ioQ2.805,805. Lknrnglrlct8d 1￿m& Cong￿ oflonanve Ir￿m01@S& oporgllThJ *cuff8d to d819 Reslrfcted Incom8 Funds con%¥st ol gr8nls rece￿ lor Te8lrfcted purpose8 (lull 1st of th8 grants b ￿nI01fte￿ in note 21 of armJnl818nd amounted to£14,532,760 at 31 Oècètnber 2021, Capttal gr￿t$ ar8 used to fI￿d wot*s and a(4ul$lUDll (bf leachlng oqulkmmenl. ThgTru&te88 have revlvd*d Ihe(rr888rve5 pow durfng course Of1￿ y881 881 IhB reserves pollcy Ihal ¥equlrg$'. R8seMs lo be malnlalned at a ￿¥@1, whlth 8nsur85 IhBI the organl5all￿s c￿0 acuvty could conVruJ8 durfng a perka of month Iollty￿ng a Um8 vthen revenue falls to zero. Malntsln a prowtbn of reser¥es In B Teadlly reali5abte forn. Th• c•lcul•llon of thp rgqulrnd Iqvgl of r9￿r￿98 45 wrb Inlo9rn1 pArtOIl￿ oro•n*•Uort¥ plwnnfry. Iwdoql foTocs8lcyehi. The TnJ818es beUev81115 n8C855ary tD hold of M rnonths. unTtSIrfe￿d tXPBndllur8 ewallnll to £600K at 31 C*c 2021. The Truste88 regularfy moNlor the cash posiuon 8Tr3 resowce5 8vaiLAbk to CEME lo 4chieve118 oper8llon41 goa15 ar? sallsfied that current C88h fl 8rn1 Ibe agreed overdraft farllrty Is suffiraent lo provhje adequate worklro Ca￿la1. At the balan￿ Sheet date, the group held un￿91￿cted l￿d5 1018lllng É8.273.045 ￿th nol ￿[rent IlabllillB5 of E219.245 12020.. £390.6621., Ihe cash cr￿pOnentl5 £1.493,510. FIA0 rosor¥ès 8r• c8lculatsd 8g unreslrfctsd fund5 *ss tsTh41b￿ Ilxgd assot5 afKS ltsans lo prowrtr fixed a55e15 and t¢nanl'$ depo$Ns. Al 8al8nce Sheel dale. CEME h8d fr8e rE5eFv05 of £419k. CEME has pwp8rod • fivo year loreca$t deiallod op8rnfjrtg plans Includlng ￿$hI1￿ 8TrJ Is saI511ed that the cash Its bank 9¥grOraft fadllty Ihol 11 has agproprfalg rfj8orv85. Tho llvo ye•r fwgGasI ￿lfi9 5nlo acGounl Covld -19 81th18 ts r reserv8s pas￿On slmgthenlng over the five yearlor8ca81 perfod ¥Alh free r888rv88 app￿rnatelY £gJOk bythe 8nd of th8 plan. Qolng Concorn CEME hss delivered a strong I(na￿al performan￿ and has enjoyed an encow8glrvJ slart lo 2022 ￿lIh recotd k8vets oftgnant o¢wn¢y on thg campus. Furthemor8 the Ev8Trt 8pacs. whlch ha8 rem81r￿d open throuohout the malorfty of2021 8180 an encouraglrrfj poth8 Glart lo 2022. Cash posttlDn l¥ Jtronger dug to strong tsadlr¥J perfomianos in 2020 snd 2021 I￿par1ed byou15tsnding CBILS ban5 ofE479K. At Ihe Um8 of maklng Ihl¥ 856e58menl OCPJPBnry acrD55 Ih? cllmp￿ ￿ slroryJ and thB evhjence of ￿1￿￿t monthN have w4Jpstsd Ihal CÉMÈ 1% Idé81ty pl8cod lar cuKtorn8rs 5eoklno h4ih qual￿ busln05S 5p3ce In th& VErJn￿ of Easl Land￿. acca551blA by car 8 A£cur8 and saf8 Co¥k1 19 prepar￿ on￿ronment. ManageThnl 8¥p8c¢ the thalleryes ol 19 ￿11 conlknue lo affect the 2022 Inar￿121 perfO￿ar￿a I to a much 1885 S￿n1￿C8n1 degr8e Ihan In 2020 and 2021 . The anlldpaied ocwarrty In 2022 provldes a r888onabte assurance of 81abl8 rfcrmance and steady uèhflrn to rnetr1￿¥)[kIrfj ¢apit81 n8ed¥ and se5viung debt on 8 ttrn8ly ba81s. Cash PDsfflon 81 the end of February 2tr22 vrns £1.225.011 WhlL41 the impart of Covld 19 ts slD*ing In Ihe Untted Klngdom. Ihe Thanagement conllnues lo monhor115 cash PD511iDn urkler $iMyenl S￿nariD$ io manage any 51gnlfiGanl rfsk h an unlikely 8V8nl 8.g. another surg8 of cO￿d 19 ImpaGt In Ihe near fulurn. knmedr41e ￿an￿r1d proc45s, Ir￿uding finandal prole4tions, has laken knto ConShJerA￿U￿ OJffent economlc and ync¢rt•lnty and pot¢nlk•l Srnp•d on the ¥Trrfov¥ k¥¢l¥ orin￿¢ and pl•nncd w¢ndltuw. CEME hAR A ¢48h bdqnrn8 Dt yo4r4nd or tl.404k P020 £1A13k) and It hp¥ •n ovorfr4ft fadlty of that h48 bo•n Ln plge• 1knc• MNY 2015 and*A￿ h88 neverbgW Utlbed dug to stroyvJ cwth posluon and ojntlnued demand of accornmodatlm aTrJ rolated Se￿¢88. MBnwm8rn D*ve mai ceme 4uequaie srpw7Y IQ mOllJy¢tnBSE stynhknm bu51nes5 n5 Th8 dlrectOTS. haWng considered cash ltr*¥. Income 5￿m¥ and b8lleve that CEME hos ad8quth resour￿ to conunue In oper8bon&l e¥l$tence forthe foreseeable future. The 8¢¢ounts haw thèrefor8 been prepared onthe b88h IhBt the L*arftyts a gokng ¢))n￿rn. 11 Centre for EnglnBerlny and Manufacturlng Excellence Umltèd Rvport of tho Tru?tO•8 RIBk Manag•m•nt*nd Int•rnal Control Th8 Trustees have over811 responslbllty for ensurfry that the organ*alloTr operate8 an appToprlate system ol control$, fin•nts•i wnd oth8Thb188, to man8ge the straleok snd oPErati￿al rok5 the Charity ks. ￿Ad be, exposed lo. Proces%s In Wace regardlrrfj fisk m•n8gÈmeni and kntem81 Contro￿ Include Ihe fol￿￿. The Committee is resoonslble for monttorfr¢ ÈffedveM8 of IhÈ Intemal rAJnknts r•DorfS ta thè Board of swh monhorfno. Th1515 athleved Ihiwgh.. CEME'S 5y518ms olfinandal control, T15k manall8menl and GompRanre o th• ntturn and ècope of th• txtemal •ud*. and any matters ralsed. lor th• attentfjon ot Managem•nL 0 thg forlhe Inl¢m•l 8udll, any change8 lo audtt pl8ns lo lake account of¢mer9lThJ rf$ks •nd n¢war¢•$ of as apwoprfale. The syslems ol control opernied lthln CEME 8r¢ dg$hJned to provkle fg08(vb18. bLrt not 8ssurnnc8 aganst mai•rfg1 ml88tatem8nl or knss. They IndL*1e.' o Fwyear pTan and cash flowlorecasl o Annual bus7￿$6 plan. budget and cash flow forecast Regular GonShlefatioTr by Ihe T[￿¢¢¢• ofa4yal ¢￿￿•[#d Wth budg*1•, fw•fj•4• •nd I￿[￿j5, o Cash flow and reserves *v8ls Segregalknn of duUe8 o Idenl]ficaUon of. and management of, tsk8 ular {ev￿￿Orfin8nCIal prOtÉdU￿. ThB TnJsl8es. k) partne￿hIPWtth th• Ex•¢%rfvo CommlllO• IEXCOI. ty•y a k•y ro￿ In th• hJentfficallDn. ev8TrJ8llon and monllorkng of major rfsks to vthlch CEME exposed. CEME h#$ rolxjsl tsk m$n89orn*ni and moniioriny pr￿sSeS In place lo a¥5151 In th8 $11818glc and operauonal Than8o8ment of the Lyganlsallon. The rfsk$ are nonllored Ihrou9h a d$k re9i$ter that Is upJ818d and r8¥k¥¥Éd on a re9ulai ba￿6. The llsk glsièr lookts at rtsks and assesses the Impact on CEME based on Ihe lolthhng C￿tarfa fin8ftd81, strateglc. reP￿al￿or￿1 and opoT¥tlDn81. 118lso lJènUAes detecuon method6. prevent8l¥e and recovery cofttrolB. CEME recognlses thg valJ8 and knPorf2n￿ of 8ff8dve d5k management. CEME a cullure of rf5k management that wrm88tOS 811 8nd opwaNonAI fiiryYl•nA nflhA nroAnlFAtlnn Tn #Ljpptjrt th1* #dditlhnAI *.nmpMArt* nllhA rkk rnAnAoAm•nl fr4rnwor* 5ndiid•' IV 1¥4ufv¥iIi￿TI otsrr an# maiwers t(T Fxepare FxtsIttLa Ihk ￿*?5￿￿￿111￿1l li1￿1￿￿￿7￿￿1l documgntalon forall nvwlnwatkn, whlch m8ndatos an 45S865rnenl of risk. New de¥elopment opportunlll88 18qulrfrrfJ hiv88trnent of th8 org8n15allo￿ rewJrc88 IndUd￿ cap*al In¥o%tmenl undergo a f¢aJlblllly analy￿8. kKludlng an 88sessmenl olrfsk. CEME¥ Tru&ts•i tt8Vè a targ￿ for lh• 01r￿¢￿e$ bokl, to mii*it• thè thè org8nls81kn 01th8 rl&k8 thal do mal8rS•k8. CEME 1$ commitw ¢0 tts fisk mongg¢menl wo¢essg$, gr￿ Ser*Jr Man4ers arby Tru$ts¢s are ¢onbnuing to dr%*lop aThl rnfinE risk managemern proLX55PS, whlL* atp buih, 4pproptlatV fu the utgan15alDn anu tho¥e effeu ye rneasurea. Tne iaDk DEIDW pr￿9$ *ey and lh8 odlorK8 Ihol are undertaken lo manaye Ihg rfsk8. CEME abo mplntaln¥ a fvn ri¥k regi¥tsr Ihjt IdenOfie8 Ihg rf8k6, d818Ctb)n conMI. pr8¥enlon C£￿trOl5 and recovery controls. TN8 Is ftfjmally revlowyd on g r•guhr ￿8. 12 G•ntre for Englne•rfng and ManutaGturlng ExGellpnGe Llmlted R•portot th• Tru•t••s Hlsk Ewnomlcpressures, Competltk*n¥nd Mglor CllentbehavlourchanBe Annupl budsetlns8ndon8olngm?n4semert feportlnR. olusmonltorlngof flnandal perform•nce. Revlewof exlstln8plpellneplus maYketln88s¢Jeemednecessary The on8oin8ev8luation of lon8er-temstYate *hA* t￿r￿t￿t￿> new knd addlt4ts**1 dien liiddentS tliat iiiay Imp•cr/dania6e repvtatlon or neKatlvelylmF•Cttsperations InciudlllKLYber seCu￿ty. fr•ud•nd mojor Incldents PrO?GElvedetertlo￿ monltorln$lnve5tl6atln6 YeportinBof adverse Incidents orevent5. Use of rlslt rÈ8lstérlsemployed. Contlnued programme todrlve IT Improvements 8ndstren8thenlnfr•stYuetur* lid yiuCrrLCbvii Substantial reductlon In keyconferencecentre dlentbu51ne55 leJdlnsto redueed prtsflt*bl11ty wnltoTln8of currentconference faclllty botsklnK levels tsBtslnSt Month￿l0r*Llstand UO8ers. Neviewof Eurrenrpipeiineono Increased marketlnsrspend as reaulred. CEME gtrnto8yand actlvltles notful￿f4¢ys*d to meetChadtyCommls51cn RA2¢rlterl MofiltorJnd record publlcbenefitiictlvltleswrnl keepthe level of regener•tkin artlvltlesabove any required ievei. ImDatt of Brexlt-dueto uncertaintvfollo￿ theexSlfromEuropean Unlon Monltorthe actlvltv levelsof rentsl plpeiine. Mortltoethe Imptheton th*tén•nts buslne55 parwd tg prgvloys pgrlods. EcunomlGDownturn- duttp thvn¥tlvn¥l IntÈYrtatlon#l Inlluonc@s rontal markotèSD•clallvlncomDarlnqto ompetltOfS. Imp•ct of eovld 19 Monltorthe u3h Jltu•tlonwlththe IY*tenlJonof 5avln$GrySh. n 8overnrnenE 511PPQrt. work doseiywlth Customers to retaln systalnable buslttes 13 Centre for Engineerlng and Manufacturing Excellenee Limitsd ststement of tru5tÈÈ< rÈsponslbllltle5 Th8 Trustegs l%tho aro also dIroCt￿S of th8 C8ntr& for Engineering and Manufacturing Excellenc8 lor lh8 purposes of rnpany lawl are responsible lor preparing the Trustees. Annual Report and the financial ststemen15 in acox)rdance appIl￿ble law and United Kingdorn Generally Accepted AcLounting Practice (United Kingdom Accounting Standards). Company law requires the TTUStoes to prepare finanaal statements for each financAal year. Under company lawthe TTUStees rnust not approve the finanual staternents unles$ Ihey aTe salsfied Ihat they gNe a true 8nd fair view of the slate of affairs ol the charitable company and the group and of the irtcorning resource5 and application of rE50ufGe5, inGluding Ihe inG0r￿￿ and pxpendi(ui¥, of Uiv rAi4Tli4L4¥ ¥Juuy fDI tlial PEwIDd. In pieparing th¢ financial slalernenls, the Tru5te85 are required lo= select suitable accounting poliaes and then appty them consi5tenty, observe Ihe ￿ett￿lJ3 an¢J prfndples In Ihe Gh8rllles SORP IFR51021', makejudgments and e$Umates that are ￿?sOnable and pwdenl., state vknether applicable UK accounting standards have been folJty•ffjd, subjeci to any material deparbjres di8dosed and explained in the finano81 stslem8nts.' prepare the finanual stsiemenis on the going ￿nCern ba￿3 unle55 n is in8pprcyn&e ￿ presurne thai the chantstye company I￿11 contlnue In busln888. Th8 Trustees are re5pon5ible for keeplng adequate 8ccounling rtrcords that are sufficient lo show and explaln the charltable rLsmpany's transactions, di5dose wlh reasonable accuracy al any time the financial posthon ol the charitsble company and enable them to ensure that the finandal slatements comply wlth thg Companies Act 20C6 and the kyovlslons ol the charf￿$ consiitutson. They are also responsible for safeguarding the assets of the charity and Ihe group and hence for taking reasonable steps for the prèvention and detection ol fraud and olher Irrggularltiès. Disclosure of Inlomiation to Auditors Insolar as each of the tnJstee3 ol the cha￿1￿bI& company $t the date of approval ol this report 15 awa￿ there is no ￿1¢¥8￿1 audit inforrnation Ilnforrnats'on needed by the charfty's audltor in connecbon with preparing the audit reportl of which the charlty's aUd￿r is unaware. Eath trustèè has takèn all of the steps that helsha shoLtld h8ve taken as a trusta• In ord8f to maka hims•lfih•rsall aware of ary relevant audll Infomiaoon and lo astablish that the auditor is aware ofthat Infonnatlw. Siqn8d on beh8W ofthe Board Valerie Le Vaillant Trust08 Date 14 con￿ for Engln••rlng and Manufacturfng Exc•llen¢e Llmlted Ind¢pondont Audltors, Report Oplnlon We have 8￿J￿0d Ihe finan¢i81 slalements Of th• Centre for Engineerfng and Manulathring Ex￿l￿nt* for the year •nded 31 Decernt4r 2021 cemprf8e the Con8011dated Slaiemenl ol Finandal Actlvllles, Group and Charity B818nce Sheèts, Consolidated Cosh Fkw Stalem?nl and I￿leS io the fln?ncial stslements, Includlng a summary of 5iqnificanl accounlln9 polScb$. Th¢ flnandal reporting fr&mewc* Ihat ha5 been applted in ihelr preparation is appllcab* law and un￿ Klngdorn A¢eaunt+ng siafidards, induding Finan￿al ReportlThJ Slaftdard 102 The Finand81 Reporting Standard applicable in Ihe UK and Republic of I￿land (United Kingdom GenerBIty Ac￿pIed Accountirva Prn&i¢el. Opinm on financAal $18tements In our opinSon Ihe finanu81 stalernent8= . glve a twe and lalr vlew of th? $tale ol the group's and the tharflobte ￿Mpa￿S affalrs as al 31 Dec•mber 2Q21 and ol tha groups Incomlng resourc85 and ap￿1¢#110n of r8Bourc85, Induding 11$ Incomè ind 8yndllur8, lorlh8 y8arth8n ended; * h8v8 been PrO￿rty prsp3r8d In zr£ordance with Unrters Kingdom GeneraltyAceepted Attaunttng PraL*t*: Bnd . have been prepared in 8ccordance th the requiroment5 01th8 cornpan￿ Act 20C6. B88IB for oplnlon We wnducte¢ our audil in accordance with International Standards on Auditing (UK) IISA5 IUWI and applirAbTe law. Our ￿spOnsIb￿l￿￿e$ und¥r Ihosa slandards arn further descrlbed in th• AudNorfs responslbilllie$ lor the audK of th8 flnanckal stalemonls sedton of our rnport. Wo Arè ind9￿nd￿nI of th@ oroup in scrDrdant2 lh• •lhical roquirgmènlx thai are rehvanl ID Dur Df Iho ffn2nd81 gl8187nènlg In the UK, Induding thè FRC'5 Ethle81 Stands￿. and *t have fumlbd eur ot￿r •thi¢al rèspon5ibllil￿ In attordanee with theye reQU*￿en19. We that Ihg ¥udttgvklenc*￿ ho¥9 oblaln8d b $yffl¢knt ¥rhl appwoptste to pr￿Je • basls forour oplnlon. ConcluJlons rnlatlng to aolng Concorn In aud￿ng the financial $tslemenls. ￿ have con¢bJthd th81 Ih? Iru$leg'¥ ol Ihe aoing cOn￿rn b¥sls of a￿D￿n￿n9 In the preNrnlion of th8 finanual statements is appropriate. Based on tho we have perfomied, have not kIent￿ed any materfal un￿rtaInl￿$ rel•lln9 to events or con(I￿lOn$ thaL Indmdual Qr wlleGI￿ty, may Ga51 sV4nfficanl doubt an th• Charl￿b￿ eomp8ty8 or tha groip's abll(ty to eantinue as o golrtg ean¢•m for * pariad vf at ￿8¥1 h￿1ve month¥ fromwhen the financkql slatements are Bulhorised fo¥ i55ue. Our wpon$lbllWgJ and th8 rewnslbilttks of th8 tru81888 Wth resp8c4 to gdng concem are dB8Nkngd In Ihe rgbvanl ￿on$ of th r8PQrt. Otmr Infornialon Th• IN¢t••R Ar• r•¥pon4ibhi for th• olh•r infornHlion conl¥inBd ￿lIhi￿ th• annual r•pDrt. Th• olh•T infom4bon compii8•B th• IrsfoThalion hduded in the annu81 wort, other than thtr fir¥iNu￿ $tat•rnMIs and our audilorf$ report IhtrrtDn. Ou¥ opinion on tho finanaal stalements does not Cover the other informaUM and, ex￿pt to the ext￿1 oth¢4wiy¢ sloted In our T¢POrt, ￿ do not eygms any f¢mi of Uran￿ ¢ondusKJn th8r80n. Our re¥pon¥ibiltyts 10 ￿#d thE oth¢r infomiatten and. in doing 60. conslJarwhatharth8 other Infomathon Is matèrialty In￿￿$￿en1 With I finan¢ial $tslements or our knowled9e oblolned In Ihe audit or olhemse 3ppe8rn lo te malerially misslaled. If we Klenlfy $u¢h maleriBI n$l$lendes or apparent material M￿Sta￿Ments, rtquirnd to deloffliln? whether thi5 gN8s rise 10 a material mFsslaternent in the finan￿81 slaièmèn15 Ih8m50lvès. If, based on th8 ￿Ik we have perfomied, ￿ndUde that there 4$ a maleAal mis$talèm8nl of Ihis other loThallon, ￿ qre requtred to rop￿ Ihat fa¢t. We nolhlng to rnport in thls rngard. 15 Cgntre for Englneerlng and Manufacturfng Excellonce Llmlted Ind•pendent Auditors. Report Oplnlons on othgr mattgrn prn8crlbgd tyth• CompAnl•8 Act 2006 In our oplnlon based on the wrk undertaken In th8 course of our audit Ihe Infornatlon gN8n in Iho trustees. rBPOrt, which inelud&5 the diredorJ' report prepared fer the purposes of r￿mpanY law. for I lth•n&al year forwhkh th8 finan￿al slat8m8nt5 Bre prepared ts consvdlenl wth the financial slatements,. and . Ihe dkedors. report Included I￿thIn thetfU5tees' repxjrt have L*en prepared in aCC￿dencewith appkab￿ls981 requlrem8nls. Matt•rs on whlch we are raqulred to roPQrt by oXC¢Ptlon In Ivaht ol tho and understandhg ol Iho group and company and Ihglr 0￿rOnment oblainod In the cour60 •1 th• audtt, ￿ h8ve not lJeniif*d malarial mkqStalem8nts in lh• dlrecaors. roport indudtojwithin the tDJstee5' report. We have N)Ihlng to report In resF¢Ct olthe fol1ry￿nq maltern In relatiJn lo Crynpan￿& Act 2C#X r8qulres u8 lo report lo you W, our opinth.. adeqyate and PTOFer 8¢counNn9 records hav8 not teen k8Pt'. or the finantial statements are not In aareem¢nl with the accounliw r8Mrd8 and rglurns.. or rtaln dlsdos¥res oftFU5tge5' remuneration Spear￿d bylaw awe not made,. or * have not rne•Ned all the Infomallon and explanatSons requSre for ouraydtt.. c the trustee$ ￿le not ent￿ed lo prepare the financlal Sts1￿en1$ in accordanc* WI￿ tho $mpll compan*¥ r8gkn¥ an(1 tske advanlage of the 5m811 comp4n*s' èxemplions ift pr•par5ng tho tr￿1•?5, dtredws. r8POrt. pon5lblu￿0s Of IrusTh08 As eyplained mor¢ fvlty In Ihe tru$te8s' reBponslbllWe$ statsmgnt $81 oul on pag8 14, Its Iruslees (who arg 01$0 Itr￿ dlrectors of th¢ char113blE wmpany fvrlhp putFoses of wmp4ny lawl atE rospDnslbl8 for IhE propa[￿11￿￿ DfthB ftnandal sialEtnEnls IDr bElng &a￿￿r￿￿ thal they gNe o true and fair vkw, and for such inlern81 control as ￿ tfU31ee3 dete￿Ine is nec•￿￿ry lo enable the preparallJn of fln8nryal ststomtnls thal are free frcrn rnateri81 rniJ$talemenl. whether due to fraud orerror. In pw8rtng Ihe fln8nd818lJternenb, the tIUSt885 art r•spon*ibk• for a$￿S1￿g the thiritBblo eomp8TrIs abllty to con11n￿ as 8 9oiNJ oncern, di8d05ing. a5 applicabk. m8ttets related 10 going ¢on¢em and using ffte g￿n9 ￿l￿ern basls of accountlng the truslees etther knlend to Iv4u•Jotg the charitabk cA)mpanyorto cease operallons. or have no reallsbc allemalhe bul lo do 50. Audltorfs reoponslbllhl•8 forth• audlt Of th•fir￿n¢la1 sla¢•m•nts Our obJodNes are lo obtaln re8s0nJbk 8$5ur8nc8 about ￿*￿th&r1he Ilnènts81 stilem•nls as a vtholè are fre• from materi•l m#$lat•rn8fi1. **ElhBr due Ip gT Etror, an¢J ID 5s5UE an auOilDI'S repDrt thul vui GPlnlL)11. RvasL)IIMbk aJ3uidTILX 15 a high Ivvcl vr 8S5uranee, bul is not a guaranlee Ihal an audit conducted in 8ccord8nrA wrth ISA5 IUKI wll a￿ayS detect 8 matsrial mi8¥t8lcrnenl whon it exists. Mls$l8lements can aii5e from Iraud or error and consideFed malerfal il. IndniKYualty or in the aggiegate. they couk1 ￿8$Onab￿ be expudod to thfjuen¢* ts erthioml¢ded$lons ofuserstskgn on the ba8b oltheae finanual Statemenis. Dei•ll$ of the 8knnt lo whlch the a￿11 wss wTrstdered L4pabkn of doth￿1￿4 *r¢guthritks, in¢ludl¢¥J fraud afid nonry¢oMp￿fyn¢* laws 8nd regulalKn8 8et out hlNY. Al¥rther desLYlOon of our respon¥bi ililies fcr lh8 #udit of the fifi￿￿81 s￿1￿eNts is located on the Finandol R#porNng CounrAI'$ ￿b3 8L' I￿￿.froorg.UkIoudrt01srnspornSlttl￿it￿. This de￿ri￿n part olour8uditots r¢porL 16 Centre for Englneerfng and Manufacturlng ExGell?nce Llrnlted Indepondent Audltots. Report Extenttowhlch tho audltW48 con#ldered cap#blB of dotsellng Irr•uU￿rIEIOs, Sncludlng fraud Irrn9ularilles. Indudirg traud, ar8 Instan￿ of non-complianc8 wlth and ragulalions. We k1en1ff￿ and a$$essed the iisks of material mlmtatement ol the fifi8ndal s18tsmenls from Irregularlle$. %ststher du¢ to fraud or error. ¢nd discus￿ thesv beh*en our audit leam m8mbers. We Ihen desvJned and perfomed Audit procedtsre5 ftsponsfve to those rfsk5, Indudlng obtalning audil 8vhSence suificient and approprfate lo provkje a basis for our opinion. W• obtained an und•rnlBnding of the legal and reg%Jl8tory frameworks wlthln whKh the ehaiit•ble company 8nd group opJrait5, focusln9 on those laws and regulations Ihal have a direct effect on Ihe delemiinalion of Material amount$ and dlsclo$ures in the financial $talemeTrts. The la￿ and regulation5 ￿ considered in this eonlext the Compani85 Act 2Q06, th¢ Cbarth& A¢t 2011 topther wth Ihe Charities SORP IFRS 1021. We assessed the requlrfrd Com￿lance wth Ih85018w5 and regulatbns as part of our audll pmc8dures on the vd81gd fin8nri•l slg18rn801 it8my In addition, GonshdEred prowsions of olhor laws and regUL9110￿ th81 do not hgve 8 dlred effect on Ihe financial Statements bul compliance with which mighl be lundaff*ntal to the chaDtable companys and the groups ability lo operale or to avoid 8 maierial ynaty. W• a150 conshllrnd tha opportunllkfjs aTrJ Incenlfves Ihat may exbt wlhin th8 tharilab￿ crrtnpany arwj tha gmup for fraud. Thg I•￿ and r8uulallon4 kn IhL4 CDnloxl for lh8 UK D￿rgI10Th￿ warè G@n8rsl DAla Pr4lt@dkin Régulathin (f*DPRI, hAAWh and SAIAty lotrknLw￿0Th. taxallJn ￿l￿o￿On. and 8mplown•nt K8glslaiion. AtJoftin9 Sianaaras limrtine requirea auort pro¢eaU￿9 to ￿enIry nonlabkn company'¥ m8mb8rs those matters ￿ are required to Slate to them in an audrto¢s report and for no olhor purpos•. To the fu11e5t Oxteni pe￿thed by law, we do not accepl or assume sponsljlllty to anyone other than the CharttAb￿ companyand Ihe th#ri1oble cornpanV$ member5 as a bool and the charftabLg comparfs 8100# gg a bcdy. forour audlt*•rk. for Ihl# mport. orforth• ryJlnl0￿ h¥v8 Iiirm•d. tn Senior Slalulory Audttor For and on behalf of cro￿ U.K. LLP StiluloryAudllor London Dale 31 May 2022 17 CAntr• for Enuin8@ring and Manufacturlng Excellence Llmlted Congolldated Statomont of Financial AetivitlÈ$ forth• Y•ar Ended 31 December 2021 Ilncorpordting income and eX￿ndItuTe accounts) Not•8 Unregtrtcted Fund? Restrlcted Fund Total 2021 Total 2020 Income from Other tradlng activths Iny￿-b￿Cnl income 2.319,399 51 2,319.399 51 2,109,148 242 Charltablè a¢tlvltlè$ 5KlllS a eouGquon and bu31ness 3uppon aGGomrnodation 4rKI related gerth Gcvemmartt grant Totsl Incorn• 1.582,820 1,592.820 1,354,132 3.912,270 3,912,270 3,511,150 Pgndlturo on Rai$ing fvJnd8 Charftabl• 9ettvlll•s Skills & educo1ton a￿Ornm0d8ticn and sUPP(¥rt 866,466 866.466 758,649 2,845,077 454.056 3,299.133 3.018,205 SkilLE ¢Jolivory and bu£ino￿ eupport Manufacturing r8S8arch instittrte To￿1 GDSt of charftable aGbvitk¥ Totsl •xp•ndltur• 49) 490 3 299 023 4,166,089 3018095 3,777,344 3,711,643 484N46 Nat intx)m8118xponditurèi 2W.727 1454,5461 1253.6191 1266,1941 Transfer beWn fvnds N•t mov•ment in fuTrYg 200.727 454,5461 1253.8191 1266,1941 RECONCILIATION OF FUNDS Totsl fvnd¥ brought fo￿rd at 1 January Total fvnde cayriod forward At 31 Dgegrnbgr 8,072,318 8273.04$ 14,987,306 14,$32.760 23,050,824 218D5.805 23,326,818 23.059.824 18 Centra for Engineering and Manufacturing Excellence Llmlted Charity and Group Balance sheets as at 31 Docember 2021 Group 2021 Charlty 2021 Notss 2020 2020 FIXED ASSETS Tangible Fixed Ae¥¢ts Intangible Assets Invostm•nt 24,006.999 23.080,338 17,661 24,610.214 24.S8S.721 24,493 23 974 425 23,055,764 17,661 24.595,578 24.570,085 24,493 12 13 CURRENT ASSETS Debtors 1805 438 311.928 1759 939 347,247 2 006 238 543,911 2 017.378 667.358 15 Cash al bank and In hand 1.493,510 1.412.692 1,462.327 1 350,020 CREDITORS- amounts lalllng du• withln one year 10 021.153 2.150.001 1.985,872 &105.034 NEf CURRENT ILIABIUTies) 1215,715) 1390,662) 20,366 {87,6561 TOTAL ASs￿s LESS CURRENT UABILITIES 23,791,284 24,219,552 23,994,791 24,507,922 CREDITORS: amounts falllng due 17 after mortr than one year 985A79 1.159.928 985,479 1.159.92 Net Assets 22,B05.805 23,059.624 23.009,312 23.347.994 Fundg of the Charlty Unreslri¢l8d income funds Restricted income fvnds 20 21 8,273,045 14.532.780 8,072.318 14.987.3 8,476.552 14,532.760 8,360,888 14,987.306 Funds of the Charlty 22,805.80S 23.059.624 23.009,312 23.347.994 The not85 on pages 2110 33 fom part ofthese Iln8ndal ststemenl. The nel resuli tor tne year reportea vmhin tho finaro* acN"iies of the pareni chamy was a d&ficii of £338.fj82 (2020: defiat £266.$661. Approved and auihorised for Issug on behaWof Ihe Boord and sign8d on their behalrby. 16 May 2022 Valeriè Lo Vaillant Tru8teg 19 Centre for Enqlneorlng and Manufacturlnq Exc8118nco Llmltod Consolldatsd Cash Flow Statement for the Year Endgd 31 December 2021 Not88 2021 2020 Cash flow from operating aGtivities: Net cash {used inllprovided by operating activitiès Cash Ilow from investing activities Purchase of property, planl and equipment Nèt cash providèd by (usèd Inl Invèstlng activili 597,437 630.114 293,106 304 331 200 J22 429 592 Cash flows from Ilnanelng actlvltl8s: Repayment of borrowng Financ@ l@as@ Int@r@gt paid Cash inftows from new bomwng Not cash provlded by financing actlvftlès (399,277) 174.202) 249 965 223 514 1255,0151 (93,4681 380.764 Chango In cash and eaBh oqulval•nts In r•portlng pgrlod 80.817 461.873 Cash and cash equlvalonts at thg beglnnlng of thg reportlna porlod Cash and cash •qulval•nts at tho ond of th• r•portlng perlod 1.412.692 950,819 1.493.509 1.412,692 2021 2020 Note 1: Reconciliation of nét lexpendlturè) to nèt ea8h flow from operatinA aetivities Net lèxpèndl￿1è) for th• rnportlng perlod (as par th• stattfflènt of ftnanelal activities} Adju8tments for. Depreciation charges Finance18ase Interest paid Loss on the sale of fixed assets Decrease in debtors {Decreaeel in croditOT8 N•t ¢aBh pmvldgd by oyratlng aetlvltl•g (253,8191 {266,194) 896,321 74,202 893,225 93,468 463 17,873 108,721 630,114 35,319 597,437 20 Centre for Engineering and Manufacturfng Excellence Llmlted Notes to the financial statements for the year ended 31 December 2021 1. CHARrrY INFORMATION CEME is a company limited by guarantee (registered number 042388621 which is incorporated and domici]ed in England. It is also registered as a charity the Charity Commission (registered number 11333961. The address of the registered office is CEME Campus, Marsh Way, Rainham, Essex RM13 8EU. 2. ACCOUNTING POLICIES Baslc of o¢counting The accounts (financial statements) have beeft prepared under the hislorieal cost convention in accordance wth the Charities SORP IFRS1021 applicable to charities preparin9 their accounts in accordance with the Financial Repotting Standard applicable in the UK and Republic of Ireland and the Companies Act 2008 and UK Generaiiy A￿PIe¢j practice as li applies from 1 January 2015. GEME LIMITED meets ihe definlfjon of a publlc benefit entity under FRS 102. Asseis and Ilablllues are inttially recognised al hislorul cost or transaction value un*s otherwise stated in the relevant accounting pollcy notelsl. The Financial slatements of CEME LIMITED and its subsidiary company are consolidated. on a line-by4ine basis, to produce the Group finanaal statements. The consolidated entity is referred to as 'lhe Group,. In accordance section 408 of the Companies Act 2006, no individual statement of financial Activities has been pres8nted for tho parent company. Centre for FnginftAring and hAxniJfatrhJring FxrBll8nc@. l imiled Preparatlon of Accounts on a Golng con¢om ba$18 After making appropfiale inquirles following the global oulbfeak of Covid 19, the truste&s have a reasonable expectation that CEME has adequate resources (strong cash balances) to continue its operational existence for the foreseeable fvtlI￿ in the case of any decline in demands. We be14eve that there are no material uncertainties that casts doubt over CEME'S ability to continue in operation. The accounts have theTefore been prepared on the basis that CEME satisfies the golng concem assumption. We have sel out in the Trustees Report a review of financÉal perfomiance, the charity's reserves position and the management aGtions in response lo the on going Covid 19 pandemic in 2021. We believe that we have adequate financial resources and are well pla￿d to manage these e￿noMiC risks. Our immediate planning piiIGe35, inbludiny fiiiaii¢ial proleGtions, has laken into Gonsideralion the Gurrent eGonomiG Glimate and unc&rtainty and its potential impact on the various sources of Inojme and planned expendilure. The directors. having considered cosh flow5, income streams and operations believe that CEME has adequate resources to continue in operational existence for the foreseeable future. The accounts have therefore been prepared on the basis that the charity ts a going concern basis. Functlonal and Prosentatlon currency The funGtiDnal currenGy vf CEMe LIMITED ari¥J ils sub¥idi¥iy is wrisid¢ted lo be pvuJi¢Js { £ ) ¥leili119 because that is the eurrency of the primary economic environment in which the charitylgroup op8ral8s. The consolidated financial statements are also presented in pounds steding. 21 Centre for Engineering and Manufacturing Excellence Limited NOTES TO THE FINANCIAL STATEMENTS contlnued Income Income for Skills & Education business support, Accommodation and Related Services represents amounts invoiced, net of Value Added Tax, for the provision of training facilities, business incubation facilities and related supportive activities. Income from operating l&ase5 1$ rwni5ed in the perityj lo which the rental income and support seTvices lates and to the extent to whiGh the company beGomes entitted to the ir¢Gome under a tenanGy lease agreement. Where income for goods and services provided is received in advance of the goods or services being p￿VIded by the Centre for Engineering and Manufacturing Excellence Ltd the amount prepaid 18 credited to Deferred Income. On receipt, donated professional services ar8 recognised on the basis of the value of the gift lo the charity whiGh i¥ the Èmtsunt the GhÈrity would have beèn willing to pay to obtain Se￿1￿¥ gf ¢quivalent eeonomic benefit in the open market; a corresponding amount is then recognised in expenditur8 in the period of r¢¢eipL (yovemment granis are recognisÈo on me pertomiance mottÈi. vmèn me cnarity has compiiÈo win any conditions attached to the grant and the grant wll be received. The grant in connection to the job retention scheme has been recognised in the perh￿ to which the undedying fvrtoughed staff costs was incurred. Included in income is an amount of £Nil 12020 '. £47,630) in ￿spect of the Coronavlrus Job Retention Scheme. Amortisation of Capitsl Grants.. whe￿ fixed assets are a¢quired with Ihe aid of spe¢ffic grants. they are capitalised and depreciated in accordance with the ststed depreciation policy. with the related grant being released from Restricted Reserve5 to Unrestricted Reserves over the expected useful life of the related fixed assets. Signific•nt Judgements and Estlmate8 Preparation of the financial statements requlres management to make signifScant judgements and estimal8s. The areas in the financial statements where eslimalions have beèn made include.. Tangible Assets- the useful economic life of assets used in calculating deP￿latIOn Amortisation of Capital Grants.. Where fixed assets are acquired with the aid of specffic grants, they are capilalised and depreciated in accordance wth the siateo depreciation Wicy. with the relatea grant being released from Restricted Reserves to Unrestricted Reserves over the expected useful life of the related fixed assets. The 6stimates and undedying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognisett In the penod In which tll& 8Slimaie Is reviseu ff the revision anects onty Ihat penod. or In Ihe period of the revision and future periods if the revision affects both current and future periods. Flnanclal instwments CEME LIMITED has financial assets and financial liabil￿8$ of a kind that qualify as basic financial instruments. Basic fin3ne.ial inslrumonls arp_ inttially rttcogniwl At tran￿￿tIOn valiI8 and siJbsequAntly measured at amortised cost using the effective interest method. Financial assets held at amorbsed cost eampris•. ta¢h and bank and in hand. logÈthÈr wth tr8de and other debtors Èxcluding prepayments. Financial liabilities held at amorbsed cost comprise overdrafts, trade and other creditors. 22 Centre for Engineering and Manufacturing Excellence Limited NOTES TO THE FINANCIAL STATEMENTS Gontlnued Expendtturtr All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directty attributed lo particular headings they have been allocated lo a¢bvities on basis consistent wrf(h use of resources. The majority of overheads have been apportioned on the basis of headcount because that is the main driver of costs in the charity. CEME initially identifies the costs of its support functions. 11 then identifies those costs which ￿late to the govemance function. Having identified its govemance costs, the remaining support costs together with the govemance costs are apportioned be￿een raising fund5 and the charitable activities undertaken (see note 8} in the year. Govemance costs are costs associated wth the strategic as opposed to day to day management of the charl￿S activtties. TANGIBLE ASSETS AND DEPRECIATION Fixed assets are stated at historical cost or valuation less depreciation. Donated assets valued at £2,500 or over are recognised at market value as determined by an Independent valuab'on when tiue is passed to CEME. Purchased assets with a cost of £1,500 or over are recognised al histon￿l cost when PU￿hased. Deprec6atson is provided on all langible hxed assets at rates calculaled lo write each asset ¢Jown to its estimated residual value evenly over its expe¢ted useful life, as follows= Long Leasehold buildings and Improvèmenis thereto over >"0 years - PlanL Machinery and equipment over 4 to 10 years - Office Fumiture over 4 years INTANGIBLE ASSETS AND DEPRECIATION Intangible fixed assets are non-monetary fixed assets that do not have physical substsnce but are identifiabie and are controlled tsy the Ghanty u)rough custouy or legal nghts. An Intangible asset Is recognised when It Is separable or arises from conlraclual or other legal rights and rf it is probable that its expected future economic benefits wlll fiow io the Cttarty, and If Its cost or value can be measured rellably. Intanglble )Ixed assels costing more than £1,500 are capitalised. Intangible assets are measured initially at cost and Subsequenly at cost less impairment and less any accumulated amortisalion. The ￿sIdUal value of inlanglble fixed assets is nll when calculating the charge for tmortisalion unless reliable evidence exists to the contrary. AmortisatDn of inlangible fixed assets is Charged as an expense to the relevant starement of llnanclal aciivltles {SoFAI category refiectlng the use of the asset. Intangible assets are amortised on a straight-line basis over their useful economic lives. If the useful lrfe cannot be eslimated reliably it is presume(I to be no more than five years. Amorti5ation Gommence5 when an intangible asset is available for us8. Intangible assets represents sothvare cosls whtch is arnortised at 20% pèr annum. Intangible assets are only reviewed for impaiment rf there are indicators that the asset may be ifflpaired. 23 Centre for Engineering and Manufacturing Excellence Limlted NOTes TO THE FINANCIAL STATEMENTS contlnued INVESTMENTS Investments in subsidiary ¢ompanies of Centre for Engineering ond Manufacturing Excellence Limited. are stated at cost FUND ACCOUNTING Due to the constrsints of law and donor imposed restrietions the charity 3egregate3 its fvnd3 botsveen restricted funds and unrestricted funds. Unrestricted funds represent the accumulated surplus on income and cxpenditurc and arc availablc for usc at thc dI￿retIon of thc Board in pursuing thc 9cneral charitable objectives of the charity (see Report of the Trustees). Designated funds are funds that have been set aside out of unrestrl￿ed funds by the Board for a specific purpose. ￿th the balance constituting the charity$ General ReseTves. There are no designated funds at present. Where funds are re￿Ived under contracts to run government funded programmes they ar& classified as restricted. When the 8eNice 18 provided, rf any 8urplus arises thi8 becomes unreslricted with agreement from the fund providèr. Restricted funds represent income received where the donor has imposed restrictions as to how the moni¢8 eholl be ¥pend. The nature and purpo8? of the re8tricted fund3 are al80 aot out in Note 21 to the financtal statements. LEASES Where assets are financed by agreements that give rfghts approxlmating io ¢)wnership I'finance lease$ and hiwE pui¢lia¥¢ ¥oiilr¥tyi¥'}, Ui¢ slb¥¥ls pluJ rant ond ¥eNl¢e8 provkled by CEME Lld lotalling £33.51212020 .. £32,987) exdvding VAT, at yoar end thè outst8ndlng amount to CEME Ltd froTll GEME Enierpn5e Ltd w85 £280.7ao 12020.. £391.7261. The conferen￿ Centre Includes £33.512 12020". £32.9671 of apooFYoned costs for fadlty and IT. The aprO￿Onment has been ¢alwbted on th6 bas1$ of v)lum$ ol spaca ulil¢ed. 11. NEY EXPENDrruRE 2021 2020 The rwt •xp•ndlure k gtstod thr c*arging F*¢• payablo to the charitya aud5tord for tho audit of th& ehgrity8 snnusl acwunts 21,400 20,750 0,100 for thé a￿lIt oltho ehawè *ubsldlgry rsuant 10 bglslatbn Total audlt fees TAxatiofi 1889 for tha 8th018ry 27,500 26,750 Group Group harlty Charfty 2021 2020 2MO Depwiabon of tangib￿ fixèd #$$et8 Arnortisalion of Inianolble r￿ed assets Rental costs relating lo operating lea38S: Photoeopy mgehinog ILIJ551 on di%pos81 of fml as¥ets 88g,489 9.667 886.393 6.832 875.944 9.667 868.927 6.832 1.200 14631 1.2￿) 14631 27 Centro for Enginéèring and Manufacturing Excellencé Limlted Notes to the flnancial statements 11 TANGIBLE FIXED ASSETS Grou L¢)no Plant. Le8seh¢ld Equipment and Buildings Motorvehides Totsl Co 1 January 2021 dthn6 D￿p0$pL4 31 December2021 35.977.137 161.2n 6.066.608 131.833 42.043.745 293,1Q6 26 138 41 441 Daproclatlon 1 January 2021 Charge in the year Dkpasals 31 D¢cember 2021 12.094,610 711,074 5.363,414 178,415 17,458,024 889.489 12 8Q5 684 5 541629 18347513 N•t book valuo 31 D8c8mber202f e56812 23 989 338 31 Doc•mber2020 245857 CHARITY Long Plant. Leasehold Cqulpm¢nt •nd Buildlng8 Motorvèhidès Total Co•t 1 January2021 JD[15 D*pas¥l• 31 December2021 35,977,137 101,273 5.890.203 100,3?0 41.867.341 138410 42 128 Doprnelatlon 1 January 2021 Charg• in the yvar DBpos819 31 D¢rnmtywr 2QZ1 12,Q94,010 71f,074 5,202.645 164.870 17,397,255 875.844 12 ao3 oa4 530T313 10 173 199 Not book valu 31 DeEeniL*3r 2021 23 955 764 31 0￿mber2¢Y20 23 882 527 687 558 24 570 085 Thp nel book valuè of plant and machSnory Indudes É1,442.75712020'. £1,352,993) In rogF4d of 888018 h81d ur*1 flnance leases. The dBpreiyatbn Gh8ru• gn th85P a55ptswHo £153,3151202Q'. £145.2041. ThB k>no buiklirrft5 rorotru¢t8tl on l¥nd by thg Foril Motor Gompany knmtied to The London Dev¢bpmenl ￿￿en￿ (see also Note 121 and Su￿et by Ihe London DevelcpmentAgeney lo the Centre far EngineErng KlgniJfarJiJrlng Ltd ICEMEI Th@ l@as8 and th& 8xp(r8 In ￿ar 2127. In gddllon to usg hy r.FMF and its #iihRWi#ry rnrnF5any tts nFJAVAl* Ruth thA r&nlrA #nd Iho Galaway io Skills C8nlre, thg proF4rty a58e15 ate kdl oul undef opeiokng lea$9 agrgerngn15 and short term tenlals. Centre for Englneerlng and Manufacturlng Exeo118ne• Umftéd Notgs to thé ftnanelal statements INTANGIBLE FIXED ASSEfs (Gtoup ond Clwrltyl Soltsvare 1 January 2021 p4oiiio Oi&po)L* 31 Decgrnber 2021 34.160 D•pTe¢l8tlon 1 January 2021 Charge In Iht yoar Dk%posals 3108csmbgr2021 8.832 9,007 18,499 Net book val 31 Dectrnber2021 31 Oecwnber2020 I INVESTMEPtrg roup Chadty har¢a h group und¢rtakln9s and pathdpaling int•r&Rt# Invè8tm8nt in 8ub8k¥iari89 CEME owns 1QO% ollhe Issued shares of CEME Entarpris8 Ltd. TRADING SUBSIDIARIES Nei expendllure of GEME before con5011daUon of the tradlng 8ubsbJlade8was £336.6B212020'. £168.4781. The results for CEME Ents￿rIse Llmlted Icompany number 071159231 are shown below. CEME Enkrprkn runs Ihe Confe￿nce ¢entre al CEME. Nel liabS1ilio8 of the ￿MPanY w¢rè È280.73812020.. £281.37018lygar &nd. 2021 2020 Totsi Income Govemrnenl granl 413.183 291.31X) 21,420 223 3?2 9,398 189,OS31 ?7 372 211 708 201,475 1118,6191 Gr055 Prgfft Administration cosis IntAr&¢l ProfiVILo8sI before ￿K￿ltin 2021 2020 Frxcd AJxts Tana￿1• Assets 33.574 15.636 current￿8018 Debtors Pr¢payrn•nt Ca$h #t bank •nd In h8nd 40.561 72.615 31.183 62.872 ¢T￿￿Or*.. ornounta falirvJ duc ¥￿thIn ono yctsr Crsditors 307,825 Not Curront LiabilibèÈ Total A5$et Less Curreni Lkqbilths Nol Li•biliti@$ 1228.0811 1903.0081 202 ￿rts7 207 370 Capttal and ReseNes 81I¥iLT Ciiyiw Rotalnod Earnlngg 203 507 (r2 Jui 288 370 201311) Centrn for Englneorfng and Manufacturfng Excellence Llmlted Noies to the flnanclal staiements Group Chartty 20 2020 2021 2020 1$. DEBTORS Due within ono year. Tradg dgblors fvmounts ow¢d by gr￿p u￿tr￿k1￿llS debiors and pwayynents 217.072 248,498 18B,317 280,738 94.858 543.911 173,883 397.726 95,749 1¢XI,749 347.247 311.928 CEME Ltd has serJJreJ an oyerdraft fadlty of £400,QCOwlth Bardays bank. Thls18 sevjred on net¢ebtCrf8. Group Charfty 16. CREDITORS & LOAN: •MOw￿ f•lllng du• wllhln y•xr 20 2020 2021 2020 Trgde c¥editorJ D8lerr8d Income Oblp3aUofts underfinance kna8t and hlre PUTGha8e eontract• CBILoan 384.870 383.079 286,074 476.134 374,984 363.D79 287.807 475.629 288,861 63,137 370,507 29.167 101.730 796,983 2.150,801 288,661 63,137 52,033 864,008 1.985.872 370.507 29,167 156.422 783,502 2 105034 Other er0ditorE and aecnjale 873.334 2.D21.753 Movoment on deferred Income IDu•wlth Sn v•arl Group Charjty 20Z1 2020 2021 2020 D8fèrred Incom8 br￿ghtf0Thvard Reaiisea ounng me y88r Deleryed durire the year r*lerred Incomo fowrd 476.134 11.733.340) 1622 285 494.797 11.701.2031 1788 600 476 134 475,629 11.725.1071 1 e12SS7 11.774.40)1 475 629 Deferred Income relats8 to rental Inccffl? recefved Sn au*ance of the perf&a towhlth It r8kgte5. Group Chartty 17. CREDITORS & LOAN- •moun¢J falllnw 2021 2020 20Z1 2020 ft•r mor• thDn one year Deferred income Oblvjalions und•r fin>re• b$804 #nd hlrg purth agreements CBILoan rotal erodltor6 tslllng du• aftor mgr• than 1 yr 279,073 372,097 27g,073 372,C47 290,411 415,995 566,998 220 833 1SQ928 290,411 415,995 $66,998 220.833 GDILo&￿ IEitn¥ ai¥ J y¥¥r> byllli Iki¥ fts¥l ydyiiwil ￿￿[11￿ Jul Z02111ZiiiviiUI ¥ftvi ￿1*￿1¥￿[11. vf 3%. Th• fir#t 12 Mofilhl ar• r•paym•nt And lnt•f•stfr￿. CBILwn 2 lerm5 a￿ S years with the first payrnent duriro Jul 21)22112fflonth 8ft8rthe fxst dra￿l0Vm). and o margln of 3%. The fir5112 mnlhÉ arè rÈpaym•nt afid Interast rm. Centre for Englneerlng and Manuf4cturlng Excellence Llmlted Notes to the ftnanclal statements Group Charity 1& COMmtfME￿Tr UNDER OPERAMNG AND NANCE LEASES 1021 ZIIZD 2011 ZOZD Fuwre mm*murn 0￿ratIng Iw5• pa￿￿￿ts aro as follws.. Plant and rnathinery". -WSthin on8 y¢ar 0tt4*en on? and fv• years 1.200 1,200 2,400 1,200 2,400 Futu￿ mlnknum fin)n¢¢ Igaw pgymgnts arg a8 follm.. roup Charfty 2021 2020 2020 8uikllng, Furniknre. Planl and ma¢hinory'. -Withirt onè yÈar -B?￿en one aTrJ fNe yea 268.851 290.411 370.507 566.998 26B.651 290,411 370.507 X6,996 Thè London Dgvolopmgnt Agonc¥ rgnt Ihg bnd nn whlrth th# r.FMF rAnlrA of A¥rJilLqnrm LE 5ilod on a l?4 yu#r 10 GEME ata pep￿r￿M rent. Th18 lfra88 exdudes the Innovatbn Centre and explre8 In more than five year6. The L￿don Developmgnl r9nl the Irinovalicffl Centre kgnd on a 125 year the to CEME at a peppercorn renL Thlb lease vWr•• In mom than fve ￿arts. 2021 2020 2021 2020 19. RENTAL OPERATING LEA5VJ Th@ fyturo tninim¥m ronlal Inrune due frtyn tsnar*ts operaung ￿858$ Hrg 85 fo11ry4k*'. 01 lattri Ihgn one year, -latèr than on8 yeAr and not1gtorth#n fv• 4aler Ihan yaars.. 1533,575 2.5go,4CJg 2.185,781 3.342,g70 2,533.575 2,599.409 2,185.781 3.342.970 20. STAYEMEKf OF FUNDS BAlanc• 1Jan21 Ineomè Exp8rtdiiur• Balane• al DeG 21 Unro8trietod Ineorno Ful￿¥ General funds 8.072.318 3.912.270 13.711.543) 8.273.045 R•strtct4d Int￿￿ Fund¢ Total 14 987 3fy8 23 OS9 624 454 548 1449?7KJ 3912270 2020 C*)mparatfva BAIAne• 5neorn• ExpOr￿lbjr• 84lane• 31 Dec 20 1J8n20 Unre¥trfGbd InGome Funds Gon•r#l fvndt 7.883. 3.511.150 13.322.798) 8.072.318 Re•trid*d In¢omg Funda 16,441.862 23 325 818 454,54 14.997 308 23 059 624 3511 150 31 Centre for Engineerfng and Manufactutlng Excellencè Limitod Notés to the financlal $ts1oments 21, STATEMENT OF RESTRICTED FUNDS Balanc• 1Jan21 E¥pgThYlturg Balaneo 31 DOG 21 capi￿1 an¢J revenue costs th the Galewav to Skllts Centr8 Capit81 and revenue Costs vf the Galthvay for Bus1r￿S prograrnmè SRB S ca￿tAl. D•l(vgry Dlars SRB IT C8p¢tAI' DTI, 41.3YJ 11,1341 4Q,Z16 16,366 14571 1S,Kg 3.525.480 689.2e6 2.geo.w7 574.031 3.940,619 1107.9231 121,0671 181,9031 117,6011 1117,0841 3.417.557 668.199 2,598,924 667,930 3.823.53S Intwatl¥¢ Glustvts Fund LDA grant forèrectlon ol campus Bnd aqulsllbn ofigachlng 8qu*rnant' EROF Obie¢tN•$11 ' LSC CgPttsI' NM Capit81' Deparbnenl for Comrnvnltlets and L•¢g1 Ggv¢mm¢nt HSSMI 2.388.4154 645.269 475.308 173,1181 {19.7531 {14.4281 2,315.338 825.518 460.876 9,356 14 987 306 454 548 14 $32 780 1 These grants were contribuuons to the ¢optto1 buthYIfi9 and inlra&tnJcbJre setup c4sts ol thè CEME Gqmpus. 2 Tli¥s¥ yiaiits￿¥1¥ y¥t)vided ¢[) ¥yuiy Ihe Galtt*uy Iv Skil￿ Edukabvii Kiitsv. 3 Thi% grant was providet¢ tu equip Ihe G8tewgylor Bu$ines$ srnall busines$ Support proyramme. 4 This grant provwJ85 funding for Ihe High Speed Sustainable Manufacturing Inslilute. HSSMI r8 a dI￿s1On of CEME %￿h a purpose ol GonduGtlng leadlng edge manulacturfn9 research wth an alm ol improvSn9 effidenGy of Manufactu￿[5 and $uppty chain eompanits. Th8 rèmaindér of £g,358 *ill ￿ pabg ta HSSMI once CEME recewe& a fvnding ToquogL Restrict8d Unre5tsirlod Fund8 Fund$ 14.523,402 0,48S.936 17.061 1,798.080 I2.021.1￿) 985 479 Total Fun(Js TAnglbl• fix•d ASS•t4 Intanolble fixed assets CUr￿n1 assets Current Il¥hllilig5 redilors talliThJ due after one year At 31 OK 2021 23.980,338 17.661 1.805,438 12.021.153) 985 479 22 805 805 9.3S8 14 532 760 C•TnparnH¥* 2020 An¥tyglg of not assgls bgtWOon fiinds Un￿tr* Funds 9.807.773 24.493 Ttslal Fijnrl Funds 14.077.948 T•ngibb r￿d aeeèts IntsNJlble ftyed asse 24.586.721 24,493 1.7￿9,939 12,150,6011 1 159928 23 059 824 Current Curr•nl li•blliU•B Credltors falling duo 8fter one year At 31 DOG 2020 12,150,601) 1159928 B072316 14987WS 11 GQNTROL CEMÉ ig und•r tho common control ofFord Motor Company. HaverfryJ Cdlag8 ol Futhar and Htghr Edutation. 80Nmg ano Dagennam Goiiege an(J Lonoon 60rougn OT Mavenng. Tne ccfflpanys Aruues ￿A$￿ClaUOn aaRa 2 Janvory 2010 slate Ih41 ¢o¢h of the above is o m￿ber d CEKIE. Centre for Engin8ering and Manufacturing Excellènce Limit8d Notes to the financial statements Unrgstrf¢t4d Roslrlct Fund• Fut)d• Total zozo 23. COMPARAnVE SOFA BY FUND INCOME Incorna froffl Aon•ratsd funds Olher tr8dlng &Cu￿t*S Invesbnont income Inet)m• from eharftablé acti￿1181 SkSlL8 & 8(Jucatlon and business 8ypport a¢commodation and ralatèd $eMces Government grant Total Ineom• 2.109.146 242 2.109.146 242 1,354,132 1,354.132 3.511,150 3.511.150 gxpendSiur8 on Ralslng fuTrdB Gharitabl¥ ￿1¥11 Skills & educat￿￿ 8¢XAiMMc￿o1lOTh and support SerV￿£S Skllls d¢livBry and busiw Support Total ¢xpendltu 758,849 758,fj49 2.564,149 464,OS6 3,018.205 490 3.777,344 3,322,798 454.548 Net le¥penditur•} 188,352 14S4.5461 1286.1941 RECONCILIAnON OF FUNDS Total funds brou9ht forward at 1 -laniiAry Total fuTrJs carrfgd fotwatd ot 81 Dacombar 7,883,966 fS.441,852 23,32S,818 8,072,318 14,967.3ce 23,059,624