2022-12-31-accounts

Company Registration Number.. 04238862 Charity Registration Number.. 1133396 Centre for Engineering and Manufacturing Excellence Limited Annual Report and Accounts for the year ended 31 December 2022 ceme

Centre for Engineering and Manufacturing Excellence Limited Annual Report and AGcounts Contents Chairs Foieword Chlef Executive's outlook Legal And Administrative Information Report of the Trustees Statement of Trustees, responsibilities Independent Auditors, Report Consolidated Slal2menl of Financial Aclivrties Charity and Group Balance sheets Consolidated Cash Flow Slalemenl Notes to the financkal statements Page 14 15 18 19 20 21

Centr• for Englne•Tlng and Manufacturlng Exc•ll•nc• Llmlt•d ChJlrn Foroword Th• CEME Bo•rd ho• an •xe•V•nt pNrfn•r•hlp vlth our CEO Noorz•rn￿ R￿hId workwth u• ITh Aprti 2022. Foll￿￿ng the l0018teps of & 8uerAJBfvI CEO • 15-y•ur tsnurn wa• not on ••$y act to lollow. How¢v•r. thè •nargy •nd pae• Nootz8man has brought lo CEME ha8 en8bted us to enjoy r•n•d r•I￿OnIh￿S wllh Imp￿tr￿1 partner• C40M the r•glon. mo¥t notably Ihts Thamei E81uary Gr9￿h Bo•rd. Tham•s Frn•port and LOMI London r•lnlordTrJ our comMKm￿Ito Crea￿[￿ proyrlty for •v•ryon• In th• rnglon Th• Board h•J mèt regut¥rfy Ihroughout th• y•ir And h•ld a p4wlkuhrfy •utt4Mful •tr•t•gy day. Thh h•$ lad lo th• Cf•atlon of o n•w &y•ar strategy wllh 3 ov•rarthlng prforfll•¥. Th• first l• to I0￿J on b•Sng • utllyi for e£onomk nentlon. The very successful launch of our BUSIne￿ Growth Acadèmy provldln8 buslntsses wlth free marketln lelal ¥nd fin•ncl81 advlce wSih free onllThètr•lnlni and lTrper50n ne￿orkIng events Is avery 8ood example ol howCEME has be￿ supportlng buslnessestoirow Ind prOS￿r. Our ¥•cond new 8trai•glG prlorfty l• lo act •• •n •¢<eleNtor for ir••nt•¢h busln•sMs, locused on Innovatfve pmdurt development and m•nuFactJrlnB to reduce carbon emlsslons. A hu8ely su¢c•ssful summlt on the coThtrfbutlon of hydroRen toihe UK economy attended by over 250 partlclpants led to CEME belng nomlnated as the preftrred slte for a £29m project to create a hydroeen Uvln¥ Lab IrKussed on research for HGV vehlcles and r￿tr tran5POrt. We now need to rlse to the challen8eto matertallsethlsopportunlty overthe Ilfetlme of our new strnte8y. CEME• thlrd strnlepk prfortty h to ch•mpknn Indusfv• buslness iroth. As • result of thls and our work In promotlng flrture sktlls developrnent lor Sndustry wlthln the re4lon CEME are IncreasIn￿V ￿1n1 Invlted to contrIb￿e to 5WIIs stfategles. The ¥ppolntment of art Asso¢late Dlrtttor focussed on swlls development hls made a mltérlal dlfference to our reputatlon In thls area and we are re£(4nlsed as • prèferred prtnw for yant fundln¢ •nd othw fvndlrq streims 4llablethrouththted￿a￿0n sertorand local •uthorltl•s. Durfng 2022 CEME h•• r•ory•ThlMd th• E¥•nts part of Iho bu•lne¥¥ to •niur• that y•lu• for mort•y h d¢lh•r•d. Yhi• C4Jntlnu•• to b• •n •r•a ol ¢h•ll•ng• du• to tho down bjm th lh• hwtt41ty m•rk•t, incrta•ed •neryy. food and IAbour o)•is • w•ll a¥ reducd lootlall from 44.OQJ hlgh per month to 29,000 polt Covld. Appolnbnent of BuslneM Gfowlh Dlroclor acul•rnt•d and It kn •xp¢clad th•t CEME 1 vlll b• do•• to eapA¢lty •llth￿ryj mBMo•m•ni to kiok for opportunNi81 to •xp•nd into CEME 2. Th• d•v•lopmènt ol Indu•lrfal th￿rk1pt￿l on Court•T Rud •dl•unl lo CEME18 pot•ntl•l opportunmyfor u•to •xpand. Th• root •nd brnncth rwkiw und•rtAk•n by Hlly•Madntyr• In 202112022 ts b•lng Imphm•ntsd and th•1 h b•glAnlng lo d•lN•r •ddiUon•l Controls •nd dI￿On￿oI. l •m d•llghted to ropc+rt th•t CEME h•v• •u¢w¥fvlly dealt a 30 Inu••• In •nowy ts)th durfrw 2022 Ihrough c•r•ThJl min•g•m•nt olour tonlrKts •nd budget•ry ¢y)ntrokn. W• •UCLw¥lulty t¢nd￿ed lor • now Sd•r PV •rr•y lo 1113 bulkllng on our tht ￿11 produ&) ov•r 26% 01 •ll our •ner9y on Ole. We ￿ter1ed • tontrador ind ￿[? In * po8l1i?n hthere o)uld •ubmk • applittlon, t•¥dy ftr In•tall&lon In lh• summer ol 2023. ThB ujrrenl solar rny15 20 old and ¢mlng lo lh• end of Ille. Inler•8tlngly tt was Ihe18rg•st 8ol•r•rrny In London tten ￿WIl Itr•l irwtslqed. AMth•r highlPJhl durkno 2022 WAI our new •tr•l&J￿ p•rtngrship wfth Quantum GTOUP and Dalkln, lo ••tabllsh • n•w C•ntr• of Exc•ll8n(• for R•n•w•ble• TMlnlrtrJ. The Cantre I￿11 offor tr•lnlng for ublitla •nylnegr8. •nabllng them to upsklll Into Haal Pump, Sol¥r. and 6u$talnabl• waler h¢•llng te¢hnoloule•, •ll •r• crudol to m••t hom? r•trofflworfE•, •nd gM•n rA)n8truGtltsn mélhod• lor now On a personal rtote I'm dellgmod th•t CEME •bL8 to iponsor an E••t London b•s•d I•M•￿ sludent Ihrough th• Arhvrfght Enolnearfng S¢holar8hlp, •howca¥lng our Bupport to dev•lop tomorro￿¥ •n9lrw•rn. In addillon. w• d•liv•Md trjn •nd InfornMt4v• STEM •nd ￿reer MJ8lons lo oyor 500 ithoDI ¢hlklr¢n through our Q•t¢way to STEM programme. F•¢db8c fr¢m our 8th001 ¢hlklr•n Ih•t84% olthem woukj n¢)wconts • ¢ar••rth •nglne•rin9 •nd twhnolopy. Und•r Iho I•￿•r$h[p of ¢ur thl•f •x•cu¥v• No0￿￿￿n R••hld Ind • str•ngth•n•d 8•nbT L••d•rnhlp T•um w• •r• confidantthat dèspftethe t￿nam1¢chOl1•nj8& fodng us and slmlLqr buJIrtwe$th•tW•￿ll h•v• i oood2023. CEME r•maln8 on 8mbttbus reg8norntlon proJ•cl •lmlng to Impro￿ prop•rity*lthln th? Valerie Le Vaillant OBE Chalr. CEME tsg.OG.Z3

Centre for Engineering and Manufacturing Excellence Limited Chief Executive's outlook Having taken on the ￿adershiP reins of CEME in April 20211 was delighted to en9age with key slakehoLders acioss the f8r East of London, South Essex and the Thames Estuary. This part ol the SE ol England prowdes enormous business opportunities that can contribute to the counliies GDP and CEME has a special role to play as a c2taly51 for econornic generation, accelerator for Greenlech and champK)n of inclusive busin885 growth. These three slraleg¢ objectives align with the aspirations of all infrastiu¢ture organisalions within the region ¢ommilled to job creatlon and economic piosperity. What will sel CEME apart Ss our doseness to our local cornmunilies and the waywe will measure and deliver soci81 value. Our new strategy launched in 2023 has been warmly welcomed by bcal authoiilies, The GLA. Thames Freeport and the Tharnes Estuary Growth Board who we will be working with hand in glove to meet the skills n&eds ol the region, increasing the flow oftalent to business and industry. We have a slgnifi¢8nt challenge in attracting £29m funding wilh the TEGB and Thames F￿eport lo help create the first Hydrogen Living Lab focussed on HGVS and river Iran5pori on th8 CEME Business Campus. Thk8 Strategic initiative Is expected to ¢ome to Iruilion by the end of our 5-year strategy. The creation of su¢h a research centre will allracl other micro manufacturing businesses focu5$ed on Greenlech and susl8iTrability. Working with Local London we will conlribiile to eating a strategy for Greentech 5ki115 development supported by NOCN Group one of the largest apprenbceship and training providers in the country. Over the next 3 years the historic food, meat and poultry markets ¢urrenlly in London will move to Barking Docks. Workin9 with the Cily ol London Corporation and The London Borough of Balking and Dagenh8m we w511 exploie opsxirtunilies lor training and development through our Busines5 Growth Academy BGA to help market traders modernise by embraeing e- commerce. CU London is growing as a Higher Educational Force within East London we expect to develop a programme of Master classes with them lo support entrepreneur's and start up business owners through our BGA. Emerging out of the pandemic in 2022 we ran into the cost ol living crisis, which inevitably Impaded small businesse8 and start-ups. CEME'S excellent support and continuous encouragement to our resident tenants iesulled in less than a handful of tenants leaving the CEME business Gampus. The impact of the Ukraine war continues to play an und8rlying role and In partiDJkgr its impact on energy prKes. These issues will conlinue to impact our profitability in 2023. We now refer the CEME Busines8 Campu$ as 'CEME 1° a5 we have aspiration5 to work with other local authoritvès in particular The London Borough of Havering to idenlify opportunrties where we can re¢reate similar business Campuses. CEME have a new Strategic Leadership team who are energ￿ed to work at pa￿ to make a diff8rence to people's lives through ￿eating"prOspEriI NooTzaman Rashid Chief Executive. CEME

Centre for Engineering and Manufacturlng Ex¢ellgnce Limited Legal And Administrativè Infomiation BOARD OF TRUSTEES Chan slnca last a ited aco) nis r8s8nle Valerie Ellen Le Vaillanl Ichalrl Noorzaman Rashid (Chief Executfva offi￿rI Appointed 0110412022 Chfis Peier Rolls (Finanual Director) Appointed 0110512022 reslgned 811212022 Geoffrey Richman Judith Armiti K8yvan Djamarani Yvonne Kelly Fin(Ilay Macalpine Barak Maoz Neil Andrew Slubbings Aessandro Altanasio Ford Motor Company ResvJned 28102r2023 Barking & Dagenham Colleg8 London Borough of Havering Ford Motor Company SECRETARY Chris Peter Rolls IFinanci31 Dir8Ctorl Appolnled 0110512022 resigned 8112r2022 REGISTERED AND PRINCIPAL OFFICE CEME Campus Marsh Way Rainham, Essex RM138EU COMPANY NUMBER 04238862 (England and Walesl CHARITY REGISTRATION NVMBER 1133396 (England and Wales) AUDITORS Haysmaanlyre LLP 10 Queen Str88t Place London EC4R 1AG BANKERS Barclays Bank PIG 1 Churchill Place London E14 SHP SOLICITORS Forster5 LLP 31 Hill Streot London W1J5LS

Centre for Englneerlng and Manufacturing Excellence Llmlted R6POrt of the Trustees The Tru$lees 01 the centre for EnylnÉÉring and M8nufacluring EY¢ellenc8 LKniled Ihoreafter kr¥)vm as CEMÉ Lld.) are ihe tharily's Try￿lee￿ under eh81ily law and Iho dwp¢iors of the ch8filable cofflpany The Trustees ol CEME Lld. p￿sent their Annual Rewrt for thè year ended 31 Tre￿Mber 2022 under Ihe Chdrrt19s A¢t 2011 and thtr Companies A¢1 2006. Inclu0￿￿9 the DireGlors' Report togethgr %ith the audiid financial sialemenls for the year. Charttwble Oblecl8 The obje¢ls lor Ihe cornpany is ¢stab￿s￿￿d fihe obie¢is'l are the promolion for Ihe pub￿¢ beneliL of urban or rural regtrnwallon In 5ele¢led areas of soci81 and E¢onomK d8pfro8lion In the Borou9h5 Of Towèr Harnle15. Hackney. Netham. Green￿1C￿, Btxley. Barking & Dsgenham. Havering, Thuffod(. Waliham F￿esi, Redl￿￿￿ge, Le%%isham. Enfield, Haiirbow and Dartford Iiogether Ihe'bDfoughs'l. Revi￿ of Strat•glt Alms and Koy Objective The CEME Vision 1$ a worfd ￿gineering, lechnobgy. design and manufadunro bU￿n￿¥S8$ ImrKove life and wellbeing CEME Is commiiied to CTealiny piospeTily in Ihe sector5 communities il serve5. Ihrouyh Ihe creation ol an enw[L￿ment were bu$in6$$ gr￿Arth is accelerated. ¢realing new 8mploymenl opporlunilyès. fa¢ili121ing Iraininp developfflpnl ¥¢liviiies lo h8lp Improve Ihtr ¢hgnge5 thal lo￿ ie%denls develop Ihe skilL%. aptilude and alblude needèd lo seGure and thrive In ihose newsob5. The CEME Mi$$ion is to.dé1p￿r wospbyily in regeneration areas by crealino bu%nes8 gromh pdrlnershlps. p2rtnerships and opportunilS In manulacluriny. eiigin&erino aiid technol￿Y." CEME are embedded in. proud lo SUPFrfXt Ihe UK manufxlu1￿0. eng￿eerIng afid lechn0k￿Y sector& CEME bok for OPPDriunilles lo create econotnic prosperily ¥rtd groyrth in areas that tnay be overlooked, or worse still avoided, because the challenge 10 cieaie econDm grovrth appeBlS lo b8 unlikely lo achve. CEME bdiè¥e5 Ihal regeneration though e¢onornic growth 1s posgble whèn stEkeholder$ come lryelhÈr lo creale inspiring project¥. We achieve afflaZ￿g ouicomes through lomiing eHecID￿ partDptships wilh key siakeholders from kndusiry and Ihè putrAic stor 10 creale inwiriThg pr(yo¢ts Ihal septs the comffluniliès IhBir locality. We ￿Ork wilh partD$r organisalions to deliver a Serv￿ Ihal, through Èxperience, k￿>W ¥upportS InCfea$8d thsiness sv¢c6ss and gro%th for our rJJslomers. We provi( cuslomÈrs wlh offices, lab space. MaCh￿eV10rk8hop$. prololyping faelliues, bu￿ne$S and fundiTbg skills. appr￿liCe$hip9 and mo￿. CEME'S promise is to alw8y$ do Ils b96110 Ilva Ouf Yalues In providing our ¢vsiomeis wlh an inspirabonal envlronmgnl lorl88rning and business grththh. we knowit￿rks. And our¢usiomers busin¥$sÉ5 grow faster as a re5uII. CEMF ValuwA Insplrlng. Inclu$lve. Innovativtr. QpÈn ind Hon$sL CEME Is rnore Ih$n an inwralional environm8ni for buBine$s and learning- it'$ a dynarniG G￿lribUtOr lo bu8iness gr0￿h hdpin9 bus1ne55es based al CEME lo grow f8sler than the n8liona1 average. The Cfe¥iion ol our 8us¥h¥ss Grovkh Arademy is a perfed example ol how Ihrough leaming. collaboraiion and nel¥w)Ikiny we add value forenlrewwews. start-up¥ and innovaiive bunesse5. Our ml$8lon Is to In8plre Inclu8iv¥ buslne33 grts￿h. contribullng to oconoml¢ pr05perlty. By working Mfylh oroanK83lions such as thè Th8ines Estuary Gro¥lh BDard. we ore in an oplim81 position lo help our busiThèSS coMffli￿rtY benefil [r￿Tr Teoror￿1 regeneralion and the eeonomiG infraslrLKIu19 dolivèied byl the Thames FieepDrt and the evolving hydrogen en$rgy ecosysl¢m. CEDAE business campus ha3 been ckK>sen as Ihe weferred sile for a E29m develoFffi8nl lor 8 Hydrogen Living Lab U5 10 1 a$ A C8lalysl for economic iegeneraiion. skills development and job cr&¥it¢n We look IopNatd to WOTkiDg partners lo ￿alIse Ihis opportunity. Ourvalues losè1 in 2022 d$fine our ambitions and dspiralions lo act as 8 ¢ataty51 forgconomlc regeneralron, AC￿le[alOr fDrGreenleGh and v importanity lo charnk￿￿ Inclusive business grovAh We have adDpied new Values 10 help driv9 b6havlours ,allilud8 and rM)5ilion CEME to be moreengaging y￿1h ourcotnmunlliès and bcal $lakehc4deroigani%alK>nS styiih *miIarA5p￿aÈ1oft$. We ￿111 bg Insplrlng ￿lpIng people lo 8¢hkve more We V￿11 be Incluslve invofvlng everyone r•￿rd￿sS of Ytho Ihey Bre We will be Innovatlve, exploring Ihinkiny th01￿111 Ghanoe and howwg live. Wewll btr Open and Hon•s1 displaylw h￿￿1 Iwels of inlegiily in 811 Ihalw8do.

Cèntre for Engino•rlng and man￿actUring Excellen¢e Llmlted Report olthe Trustees Overvlew CEME cffillnuès lo deliv•r a positive ecor￿mIC wnpacl in East London and Ihe Kider Tham6s E31uary area tsirth Ils Op￿n9 in 20D3 CEME briD9s I(￿ether efflployers. educaiors. skills. and training oiganisalion$ In a unique ar￿ effecliv8 way- d¢liverin9 faster bugln8ss growth vrtlh upskilling arwj Ir8ining ol local residènis. Thg oukome we SIr￿e for 15 companie$ growng faster, b¥n9 More ambiltOLL4. finding. and de¥e1cping IDral lalenl Cornpanie3 gwlasler." on and off the ¢¥mpus lotsl r8sld8nls parti6ypate in this gr￿h. as empbyees, a¥ b￿1￿0¥S ovmers and ascuslofflprs 8nd SUP￿le[S OICEME. "Skillnel have been tunThirtg the Ford Molor Company Apprenlteship Progr8mme frorn CEME for 10 years. ulili$ing a number ol the engirttrinv w)rksMp and dassroDm f8(xliiies 10 deliverApprenlice training. CEME provides an Id881 space to inlioduce technical grtoineeriry educa11￿ in GBfe and ¢188n vntking envlronmenl Ihal pWes B si9nifKanl emphasison the Heallh. Safety 8nd V￿lIb￿n9 of ils i$n8nls. Frw its East London Campus CEME hosls a ranue of putrAiG piivale organisati¢n$dalkvering." Commgrcyal business ITainifig Small buSIWSS BUPPQrt snd devdopmtnl Tiaining Èducalion ￿ buslness relaied stthlies ApPr￿lIteShIps and ielaied eduGsiH)n in engineeDng and lechnokwjy se¢1￿$ A technology slart-up IDnov£lion centrtr A wtsr￿ elass event space Opera￿trI SuppDrfiny inw8rd invesltntrni mi35ions lo the re9ra Publ1¢ Benelil CEME'S Board ol Tru$iaes req￿arfy monilor and foview the SU￿8$$ 01 the organi¥all￿ In achieviw 11$ alm lo creale fastor enleip115e growth 8ding lo iD¢re$sed levels ol Èmployment In ihe cofflmunilifs li serves. The Tn Te¢h circ￿ and C¥MEET are exarnplès of the popul nel¥M)rking evenl$ Ihal hav8 gr(YWTh in wpularily. ThB Launchpad Ceniro Is £ifflgd al $upwrfing slart ups and very early slaoe groYAh tyganisAlions. Th￿ offer includ6$ ¢o4￿1k1ng. hol de¥k, fixed desk and small office spaces lo lel for ¢u$iorners. Our aim is lo remove baiiiers io encour8￿ more slart-UP$ 10 oxpbil opportuniliès lo Ihe fullesl eilerl. The Laun¢hpad cuslotntrs also ￿n￿rit fiom a tailored business programThB lo support accelerated gro¥%lh. CEME ha$ 8 dedicated Eveni Spa￿ customer oKering, lffjm simple rooms for Iwo or more ptropl&, lo execuiivp board r00rn5 and the fuluristiG POD IhÈalre %there oryan15aliOn5 c8n hos1 a ￿lde range of meeling$ and events. The flexibilily ol spa¢0 offering ha5 be¥n 8llr8clive past years and Conlin￿&S io allrad nèw exi51ing ¢lienls as they ¢$n eAsly flex up and down in lem)$of space on Ihe ¢ampus. u%ng event space 05 on tap addit￿￿￿1 spa¢s ￿ office a￿0￿MOda110￿. The evenl spaGe Dffer is c8refully'v•)ven inlo" the CEME otfer- bringiny loe81 business ers onlo th8 Campus gnd In tho pro￿s9 h81ping r2ise their own 8spirati￿6 for bu¥￿esS gro%￿h. The Launthpad Cenirè also offers a rarvJe of la￿ore￿ pr(￿￿CLS and swvi¢e3 10 8 wde range ol public and privaleclienl5. CEME. as part of A public benefit Inilialive, hosls a Hydrogen refuel￿ng slati(￿ IHRSI on the campu$, in p&rtnetshipwlh ITM PowgrTr8ding Limited. Thisfacilily h$$ been availablè lo Ihe publi¢ sknce 2016. In early 2022. w8 8Npe¢l lo complete a $lgnificanl upgr¥ and expansion of thi5 facilily towe1cc￿ an increased number ofcu51omers ubli$ing Ihi5 fa￿lity. ThB maiks the in¢reaged ulllisal￿ of ihis'breenerfv•f' in the UK. The HRS and CEME'5 parfnetship VAlh ITM PIC is ex¢6lbnl example ol hwjh value manuf8¢iurifvJ colaboialion in the UK. The weSe￿e ol a HRS woduclion and fuelling faL¥lily on the CEME campus also 8ew$ as a signth(ni lèchnologydemonsiialor in the Easl of lor￿(￿ dray￿n9 Inleresl and ￿slI5 Irotn a rangeol inlere$l>Y partie¥.

Cèntre for Enginaerlng and Manufacturing ExcellerKe Llmlted Report of the Trustees Thls mix of priv818 public $edoraclivilies ¥eNes lo create on outstanding offtrr forlhe k>cal (xmmunily. CEME works wlh local 8du¢81ion inslilthions, gchools, Furthor Educat￿￿ in C￿￿geS and Universit￿5 in a varieiy of ¥%ys all aimed al improving lh6 opwriunilies and a5FiralKins of Ihe kncal Ggmmunilies CEME servès. The Gal¥%gy lo Skills prryramme ¥ill return 10 the benefit ol ktal $ChodGhi￿[8Th from April 2022 $iier an absence of I￿) years duè lo the pandemi¢. CEME estsuished EluleG, a Universily Technical Col￿ge ILJTCI in partnership VAlh univer￿tY College London IUCLI ané Ford in 2014 and slLK5ents onio Ihe campus for work experi&rK8 and placemenls evory year. In addilion io ihe 100 plus businesses operating on the Campus, a dwÈrse mixol bu$inÈss delegates regularly allend Iiaininy seminal$ In the Event Space. CEME lurlhor ddiver5 programm8s lo help 11$ cuslomeis to re¢fiil. retain and dtrvelop I3￿nI". pfovidlno p9￿￿￿Y$l￿ loc￿ 8￿￿0YerS kn devel and support awell-Irain8d workforce. generatin9 bu5in#$s gr￿h and ullihalelyjob and weallh creation forth8 Iwgl ar￿￿. Achlevements 8nfl Performan¢• Alm 1.. Piovldo od&cBllon, training and re4rainino QPPOrtunltio8 and work gxpoiTr•ncg Educallon ThÈ London &hool ol AcadeTnK$ ILSA), an provkler ol leachor Iraining educalion Ih81 conlinw8 lo fi￿rISh al CEME LSA gr￿Arth plans have now dÈvdoped such thai pkqns are undèrway lo acquiro a Univgrsily sLlus LSA is particularly 8cbve in providing teaching r00r Iraining leading io high qualily employmenloKVOrtunil￿s for¢ourse partKipanis. m￿Y ofvk￿M ¢ome lo the proyrammes unemployed. In 2021 the Evsnl Space al CEME welc￿ed around 5,000 d8ltro2les purely for the wrpDse of edu¢8lh)n and Iraifiing acros5 QOO kainer days. In 2022. we expecl lo w)rk more clo$èly wtlh BaTkiny and Dagenham ¢dleue. The college have cornmitted io helpin9 us doliverour Gateway to Skills programme They have al$0 G(mmilled lo having a base al CEME lo promote th8 Inslilvle of TeGhno109y progiarnme tr> k)cal businesses in cdlaboialN)n ¥Mlh CEME. The event spaco is an ullia-modern evenls and meelings venu9 0lfering iMovaiNe and flexiblè so1￿10nS for meelings requirement8 from o high- lech ¢Dnlerence audilolium. CEME POD Ihealre lo Small meelingltr¥ining r￿￿￿. confsiènce. exhlLwli￿ ouldwr space. Apprenlice8hlpg CEME is homq 1¢ the Ford Cornpany e￿ne&r￿9 appr8nb¢è progr￿￿8 IFAPI, eri￿Y￿1 another vwy $u¢¢essful year. Sn 2022, th9 intake is expected lo inGrts$e io creat8 m016 OFPOrt￿ll1￿S lo young ￿0[￿￿. Te¢hnSeal Tralnlny During Ihff yÈ2r CÈME hosied 8 Mide range ol lechnical Iralnlng in w)ikshops and praciical ¢Lgssrooms induding InlegFaled Manufaclurino Skills, mulliskilliDg leleclrical for mtthanKal and mechanKal fty elecir￿all. olo¢tronKs modubs. weling, programmatle b9ic ¢ontrol pro9ratnffliw lesling and engineering hBallh end Barely. CEME is proud lo b8 IhE home of Fast Line Training Serv￿s ¥tho dellver lechn￿al skills army Irainiw GQUW for the rail ¥tor. In 2021 Fasl line expanded Ihtrir f(￿lp[￿nI further In order lo d8liver additional pr8el￿al Iiaining Courses in the CEME vhxkshops. Aim 2.. Help unemploy•d ￿0p19 flnd •mployrnen¢ Cf ME ¢￿tInUeS lo ho$1 assessment ¢enires for ihe r¢ruilmenl of a variety ol etnploymenl OPPDriunili6s ￿e￿ding appran￿￿5, entry ltrvel technic81 and s?f&iy Iraininglcertifi¢aik)n for sed¢ts such as the ¢on$iiuc1￿￿ and rail, rwAy qualified IwherG, medKal slall and a host of olher employmfjni $¢tr¢ilies. Alm 3: Provide support to busine8¥0$ where it leid$ totralning •nd frmployrngnt opportunltles lor unemployed ￿￿Ople. The CEME Innovati￿ cent￿ provides and ￿￿[kshOp Spa￿ and relai6d services lo SME$ on flexible lerm$ Ih81 enable Ihm lo Idke up ac¢ommodalion Yfilhoul iisk of prohibitive lease payments Shou￿ they suffer a Tmar￿￿￿1 do￿lUT￿. In?ddilKJn, a rsrtoe ol ￿J￿n￿$S support Sorvices is provided lo $upwri accelerated grovrth. During 2022 Ihe CEME Innovation Centre pro%ryd6d office Gpace business support lorover 10D small businesses. The Inr￿vatIon Cwlre hAs had an average OGcupaD¢y ol over 80% during ihe yaai. In keepin9wilh previous years. sever21 lenanls oxp8nded during the year, effe¢iively oulgrowryno the Innovalion Centre. Laun¢hp8d building 1$ yared lowdrds ftfdgling ￿sinesS￿￿ nd offerfrom virtual officelo hot desking lo ¥mall offices bastd ￿ Ihe requirements of the bu$kn$ss. This tsu1￿1￿ bogsled an avsraoeoccupancy of over 85% dunno the yeBr

Ctrntre for Englneerlng and Manufacturing Excellenee Llmlted Report ofth8Tru5teÈs Alm 4.. Prov1￿ l•nd and building$ on favourabl• lorms to bu8ln•sses In ordèr to c￿al8 tr8lnlng and employment opportunIt￿B for Unomployed ppopl CEME Innovalion Centre provides a valuable resource to lttal businessts and enlreprenèurs The centre provides high qu¥lily ccommodaiion and $vpport Se￿iCe8 ¢n a simje'lhe pnee you sets 1$ the priceyou p8y' model orferiDy 10 siart-up lyJsine$ses wlh an aflordAble Itswrisk accommodalion sdulKn This aLtiactrye oftering is ev￿￿nIly meeting a nsd and conliDv8d 10 enN>y LKcupan¢y levds in exc8ss tsf go% Over1￿ y68r. We ¥￿11 knng 8ddilK>nal sm¥ller units online In 2023 to tne61 a orovAng ¢u$iomèrd&mand. For ￿SineS￿¢s. Bre small lo afford an Offi￿ in a bUs￿eSS centr8. CEME ofeFS a'virfual lenaThG￿. gervice enable$ a business 10 have a fronldesk seryits$ 81 Ihe lllnovallon Cenire and use rts meeting r00rn5. Innovat￿￿ Cenire 5UWOrts many l(tal micro-busine$sès 4lh th￿ seMGt Ihroughoul Ihe year LOOKING AHEAD al CEME 2022 GEME dÉ¥è1opBd a n¢wslralegy forgrO￿th. The underpinning pl1￿[& ollh6 strategy m¥ant 10 9row iesponsibly. ￿1th a locu$ on new activities Ihald&lwèra Posillve impact and susiainabl8 perfOrMance￿IlhO￿l compromising belng an envwonmenial exgmplar. This 15 how operate the &4mpus and the bu1￿1￿9$￿en lotming the newpartnprships In 2023 we are pl8nning lo bid lor fundin9 ID si¥il a hydr￿ert- focussed inD0vali￿ centre on Campus in partttèrship Vvilh Ihe unl¥eT￿ly of Kpnl and ITM Motive. The emerging Tham8$ Freeport is Dnd&rful opportunily forCEME lo d81iv&ra succe5$ in the Mider Th$mès Esiuary in c0llobor8lion￿ryjh ￿llnerS ITr April 2tr22. our Galoway to Skll$ progr8mme Yrfll resume $ee over 1,000 earfy sec￿d￿ $ludents cttho to CEME 10 ￿¥M abDuI STEM (Science. Technology, Eroineering, Malhemal￿5I and lo enaourage Ihese students lo ¢on$1dercareets ￿ese sutyects. At CEME we Nsork in parfnership wlh regional •nd local government, local arm8 national or lniem8t￿nal ern￿o￿e￿ and ptivaie devek>p8ts to undersknd the local e￿￿OrniC landscapB 2nd regeneration aims and ne¢ds. U5￿g the influenlial capilal ol cornmerce. the capital of l(¢al gov•inm&nl and thè Fthysical capL£I ol supportive pbces our aim k% to PLJII i¢gether partllershlps lo deliver atnknliOUS Pfojecls ID meet the sPe￿fiC ambilK)ns ol a commonlly. The CEME mod81 does not rely on external funding orsupporf ￿de[ver0￿ its Vk%i)n Bnd charitable 8YnG. STRUCTURÈ, GOVERNANCE AND MANAGEMENT The finan¢ial sialemefils ￿MplY ￿1th cuirenl sialutory requiremert$, Ihé Memorandum and knKle¥ of A¥$￿131K)n and the ChLwilie$ SORP FRS102. Centr6 lor Engineering gnd hlanufacluriny Exce11en* Limiledllradiny 8$ CEME'I 1$ ￿Sli1u1ed as a ¢¢mp8ny limited by guarantee Iregi$lr8lk)n number 042388821 and is governed by ils M¢mor8nduTn and ArtKles of A8s0ual￿￿- CF.Ml.' rcgi%l¢r¢d Ils & chariti. Iiegisiralion iiuiiibei. 11333961 in Dccember 2009. CEME EnlertKi58 Limited is a reoisiered cornpany nurnber7115923 Incorw)raled on 5 J8nuary 2010 end is awhdly ON￿$d S￿b5￿J￿ry ol CEME. The charity had no fundroi$ing aci1vil￿S requiring disdosvre und&rS162A of Ihe ChaiitiasAct 2011.

Centre for Englneerlng and Manufacturln9 Excellence Llmlted R8POrt ofthe Trustsos Board of Trustee5 The Board of Trus￿es, are also directDr$ of Ihe ¢harily kn the purposes ol Ihe Compani$$ Act. have overall respOn￿￿111Y for th¥ dirac1￿￿, managetn$ni and G￿trol ol Ihe Gfvarily As discus$ed below. $wne of thsè activiligs arè delegated lo sub-Gommillees ol th$ B0￿d. Overall. oper?bonal manag¥Mntol CEME is delegated lo the Exe¢ulive Officers. The Board is 5ubi8¢t to a Ma￿MuM of 12 and a minwnurn of 8 directtrs. Under arbcles of a$Stt￿lI0Tr. ihe Compo￿11)￿ of the bo¥rd i8 85 Idl¢ws.' Thiee directors appoinied by members olCEME'. o Orhe reprssenlalive dire¢tor wminaied by Ford Molor Company Ong rÈpresenlalNe direclor nDminaled by Havering college of FurfhÈrAnd Hiyhor Educalion and Bathing Dagenham ¢dlegg IBDCI o On8 represenial￿8 direc1￿ nominaled by the Loidon Boiough of Havfyring Addilional directors appo￿led ty Ihe board. With sp8crfi¢experiise One senior ind¢pendenl non-èxeculiv9 Diredor lo provide busine$9 arKJ comm¢rcLql expoflise Addilional non-exewlive diTecior$ as requirsd lo prov￿¢ expert advi on subjecl ¥98s of ieltrvance lo CEME Such as ¥kill$ and •ducat￿rn, busine55 devebpmenl, r8gtnèr8lK)n iniliaiives. and manulacluring, engin8erin9 and lethnobgy to Ihg Board Onè non-execulive dir8Glor to actas chal￿￿￿ execulNe dire¢iors, being Ihe Chief Execulive Offi¢sr and Chief Offitrr Th8 direciors appoinled by members are ¥enior&¥ecLrtives in Ihostr Organisaliorts Ford is rep16senled by a senk)i eX￿Ul1Ve of Ford Britaln. The 01kges bythe College Piincipal & CEO and Ihe Lonth)n Borouyh ol Havering by 115 Dir¢iorol N&ghbourhoods. Athfecl( n18y hdd Ihal orrice foran initial perlod of th￿e year5, t1￿¥ rj renvKabb on è rnulually a9read ba£4s. Typlcally, tho t￿rd meets $rA lo evjhl Imes p$r year. Now direclois are inducled Ihr¢u9h a lowmal induGlv)n pro(x5S, Vlhkh inGludo$ a compieh•nsive biiefing vAih Ihe Chef ExecJJlive Officer and 8 S11e visil In addiiioD lo¥ number ol olher inilialives. The Trustèes rgview and moDitgr Ihe finan￿91 perfoim3nce ol Ihg Chaiily. loreseoable signifitsni events and risks are anaty9ed otKJ tho possibk finandal lfflpacl 1$ Inveslwled vAlh corfeclive act￿Tr i¥ken as nects$ary. Throughoul the year. Ihe Trustw conlinu8d lo monilor the e(leciivenegs and overall lerffls of refOren￿ for Ihe sub commiltses, lo ensure Ihey afe foll0y1i￿ best wacb¢e in th8 S*¢lry. The BoBr(S appo￿1$ mefflb8F$ ollhe Audit Commillet. Nominalion$ Comtnillee and Ihe Reffluneration Commiltee. Th$ Audil Commlllèe. vthith Usually ffleets Ihiee lim$s a yearand Ihe RemuDeralron Commltlee are made up of Tiuslees wilh iebvanl sklls and exparience The Retnunwalion Commillee 5uppDdS the Boprd in revieyfiny and selling the Temunwalion ol Ihe 8xeculive dire¢i¢rs. The remuneration pw¢edure i¥ di$¢h8rg£d by Ihe chair. The Nominali¢n Comtnillee rewevés tsndidates lor appoinimenl lo Ihe BDard making re¢omrnend¥lion lo the board on the app￿nIM¢nIs. CEME'S approach lo r8mvneratl￿ 1$ designed 10 ensure we aiiracl and retain the lalenied and moliv•￿￿ peopb need lo ¥¢hEve our vison and d&li¥er our slraiegie goa18. 11 Is applied ¢Msislenlly acios5 the Dryanlsali￿. We aim lo pay181r and compeiilNely in Ihè nol lor profil seclor thirt Ihe coDlexl of affordability and considenng thè Cornp￿¥11Y ol each TOKP CEME link3 pay lo performan￿ and p￿￿e5 6alary progress￿￿ lor Ihos8 who deliver exeeplional performance. The le¥91 ol remuneration is benchmarked lo Or￿nisationS in Ihe Area of $imllar size lypè and (x>mpl8xlly. Exlgrn21 independenl consuiiwls carry oul on a rewLqr basis, Ihe benchm8iking. ￿ Chiel Ex8wlwe and th& bDaTd as appropiiate Ih&n agree Ihe remuneral￿n The Tiu$iees Bre aware ol the Chorily Governance Codt pulAished h 2017, Sets oul ptinciples and wornmendèd pr4ciic• for QDod )vern8nce wlhln ihe Sector. The Trustees regulaily diSCUS5 b¥si praclKe ai CEME Board Meetings and are satisfi$d that Ihe Charily applie$ ihe piiDtyples of the code w￿1h1n il$¢urrenl Go¥eFndiK8 8rr8ngemenlS. A board seK-ev8luatK>n Bxerw8e 16 pbnn8d lor eady 2022 a Related Partles CEME operales ¥ ￿ollY ovrn¢d SUb￿diary CEME Enièrpri5e Limiied, this is a (xmMerci￿ 0rg8nis8l￿n Ihal condLKt¥ th• Conference Cenire buslne5s and hence isa rdaled party lo the chaDly ICEME Lidl CEME Is under thè cofflmon ￿1101 of Ford Molix Company. London Borough trf Haveriny. Havering call￿ of Further Edu&911￿. B8rkiw and Dagenham college. companies Article of Associalion a¥ 8mend&d in October 2019 slate Ihal oach of ihe above is a member ol CEME. As tnember of CEME Ihey h$vè Ihe [￿h1 10 £ppoinl a director lo CEME board vthich are nDièd In the seclk)n abDve The Gre$ier London Assembly fenls lo CEME Ihe land on vthich CEME Cenlre of Excellence 1$ sited OD 8 12S-year lea$• al a peppomrn renl. 11 also le@38s the Innoval￿Th ¢enlr8 ￿ 8 125-ye¥r16ase ata ￿ppe[cOrD rent. The ullimale freeholder 13 th& Ford Motor Company. 10

Centre for Englneerlng and Manufacturing Excellènce Llmlted Rèport of the Truste05 FINANCIAL REVIEW Tra¢Jlng PèrlormanGe CEME'S piincip21 inG￿ne is derived Ifom fees (th8rged lo users of the facility. CEME provides a fulty provis￿ned 18a¢hino environm$nl for provideis ol edu¢alion and skill$ and tailored o￿lc8 spa¢& and support $6piice6 10 businesse5. This income is 3uymwled by revenue5 from 8 trading subsidiqry that wns a ￿￿le￿nCe centrB #I CEME. Thege revenuos are discbsed as 'InC￿e. on the co[￿0[dated Slaièmenl of F￿ancIaLAc￿Vlt￿S. CEME opeiales a numtyer of buildiws on ils pk. Ihe main bulldill9 that a¢¢tynmodates the yoviders fw Ékllls and educalicn and Drfi¢e space as well as the conference Gwire. Olher ￿lI￿1r￿J5 include a ￿￿O71Y d&voled Innovation ¢eThi￿. CEME'S revenuè for ihe yearwas £4,156,654 8nd the adjuslEd10sS 15 £527.995 Ilhe ios$ InclLYlg$ a depreciation charge of £911.6801 Prv)r yeai revenue was £3,912.270 and adjusled loss ol £ZSJ,819 lihe loss indude5 a d¢preci8￿0￿ charge ol £896.3211. As men110n￿ abovtr, Ihe event space bu5in88$ is run throwh B wholty ovn8d trading subsidiqry named CEME Enletprfse Ltd. Revenues for th• year of £303.293 wlh a loss of £73.857. Prior year revenue £413.183 %%ilh a pwlil 01 £84.863 The aCC￿n[￿odA1h)n costs for Ihe confersncÈ centre are In line wth rates paid by major clRnls in olher parfs of the building. The evenl swe COns￿￿ed An imwthani ￿gen8[abo￿ olleFing part of Ihe Yrfd$r CEME Tnodèl impacl obieGlives. Re$eNes Polity Toial fur￿$ hePJ ai 31 December 2022 amounted to £22.296,$81. Unr¢Si<￿1ed Income Funds 0￿sLAt ol ienani's IncAirne less operating re¥ulL8 incU￿ed 1¢ date. Restl￿ted Income Funds con¥i¥l of grAfils re¢slved for reslrfcled purptsw& Ifvll list of Ihe 9ran15 is contAined in fi¢t¥ 21 of the a(tounis) atvj amounted lo £14,078,214 al 31 Decernbgr2022. Capiial oranls are u$èd lo fund buildirvJ ¥￿￿kS and the 8CQLJisilion of newlt8¢hlng equpmoni The TFustee5 h?ve their reserves policy during Ihe courso ollhe year and 1 the resefve¥ policy Ihal re4uires'. Res$ives lo be maintained al a level, thich ensures Ih¥l Ihé organisalion's core activity cculd continue during 8 pericMI ol bNO month5 following 8 iim&when revenue fall$ 10 zero. ma￿taIn a proportion ol rèserves in a readily reali¥aNe forffl. The cal¢vlation of the required level ol reservtrs 1$ an Inlegr¥l partof Ihe ¢rganisalion's Flanning. budget and forecast The Tru51ees beleve il is nec8s$8ry lo hold reserves Of two ￿￿1h￿, unreslrKled expenthlure equ8lirvJ io £600K 8131 Dec 2022 The Trustee$ iègulaily moniior Ihe cash pDsilion and resources availab￿ lo CEME lo aGhi8ve Ils opeTalional goaL5 are salisfydd th81 eurrenl ¢a$h flows and Iht Sgieed ovetdrnft faGilly is suffiuenl lo provide adsqu3le wikiny capilal. Al the b2lance sheet dale. th8 group held unr6$11icl£d funds I￿•111n9 £8,218,347 wlh net currenl liabil￿tieS of £307,42012021-. £215,715}', Ihe cash comwnenl is E1.58Z,524. Free ieserves are Ca￿U￿1￿￿ as unreslfi¢￿d lunds ian9iblefixed assets and loans lo pro¢ure fixed ¥$sètS and lenani'g deposits. Al the Balan(x Sheel dale, CEME had free res¥Nes of £479k CEME has prepared a five year forecesl wlh de1811ed operating plans includiny ca5hllows and is satisfied Ihal v￿th th8 ¢a$h setve8 4nd lis bank overdraN lacilily Ihat il has appTopriale reserves. ThE Iiwe year fore¢asl iaking into accounl Covid -19 show3 the fre8 resetves p0511ion 8IWOlhellino ovèrlhe fivo year foieLzsI period with f¢e reseNes¥pproxim8tely £￿0kbY the tnd ol ihe P￿￿. Golng Concorn CEME has deliveted 8 slrong financial performance and has enjoyed an encouraging ￿1￿ 10 2023 ￿lIh recoid |ev61$ of lenanl Wttuparbcy on the ¢8mpus. Th8 Evenl space, wh￿h has undergone a roslruclure ￿ 2022 remain5 8 m2pr part of Iheoffering al CEIAE. Und¥r lh& control ol thè BuBing$$ Developmonl Director there is an ert¢uragin9 po$illve start 10 2023. Cash posilton remains strong and i¥ fwe¢astthroughoui 2023. Al the lime of m8kkng Ihis assèssmenl oc¢upancy acms$ the camw$ 1$ 91roTbg and thè evKlgnc¢ of Ihe last iwelve months have suggested that CEME is ideally placed forcu51omg1¥ seeking high quality bu3ine$s spaGe in Ihe VI￿n11Y olEasl London, 8¢ces5ible bycar offeriThJ 8 secure and safe Covid lg prepared 6nvironffleTrl. The anlicipaled occupancy In 2023 provides 9 reasonable assuian¢8 of Sta￿e krforM8wR and steady cashflows lo meeiworking Ga￿181 needs and seNicing debl on 8 iimdy basi$. Cash posiiion al the end of February 2023 was £925,573. This redwlion was pritnarly due lo paymenl ol othsianding renl (In￿UdIng prevw)u$ years) for the Launchpad In Febwary 2023 a5 a psri ol acqviriny a knng lerm lease from Ihe GLA this building. Our Immediale ￿annIng pr(tess. inrjudiw Ilmncial wl¥bons, h¥$ iaken into ¢wsiderall￿ ihe turrenl economio dimate and uncert8hly ils p¢ienlig1 impacl on the various levels ol irKDme 8nd planned expenditurè. CEME has a cash b¥l•nce6 al th$ wr-end of £1,583k 12021 £1.494kl and il has an ov¢rdrAft fa¢¥lily of £400K ih81 has been in pl¥e since May 2015 wknich h&s n&v8r uiili$ed due lo 11$ $lrong cath posilk)Tr Bnd continuèd demand of Ils actommodalion and rdaled 5ervKe¥. Management believe Ihal CEME has adequate finan￿81 resources and arewell placed lo manage these S￿nIfICant busines$ rtsks. The direcitrs. having consid￿d Gash flow5, ￿CoMe $lreaffl$ and operabon$ b￿1¢Ye Ihal CEME h8s adequ¥te resour(xs to ¢On1￿u9 i opgraiional existen¢$ lor Ihe foresee8ble futu￿. The accounts have theref(e been prepared on ihe b88is Ihal thetharlly is g goiw con￿[￿.

Centr8 for Engln8èrlng and Manufacturing Excellence Llmlted Roport of Ihe Trustees Risk ManBgernentand Internal Control Th¢ Tiuslees have overall r8¥pon$lbilrty for 8n$urirvJ Ihal oruanlsalion op8tates ￿ appropriale ¥y¥lem ol conlrol$. flnaneL41 alld othernAso, lo manage Ihe strategic and operatio￿1 risks the Charily Is, coukj bo. èxpDsed lo. Pro¢esses in p￿¢8 reuarding fisk tnanagement and inieinal conirols Include Ihe follgwno. The Audit Commillee is resptyisible for m￿lI(￿1ng the effe¢tlvèness of Il Intèrnal (yJnlrol$ and re￿riS lo the Board the result8 of $v¢h monitoring. This is athi¢vèd through-. o CEME'$ systems ol fin8ncial conlrd, risk rnantyemenl and comFlianc8 o the nature and scope ol Ihe ext01nal audil, and any mallers raisEd, for Ihe allenlion ol Management. o the need f¢r Ihe iThtem¥l audll, any thangès io audit ￿aThs lo lake account of emerging risks and neworeas of ￿SIn@S5 aB ¥prqxiats. The syslem$ of conirol operaleLI %%ithin CEME are deB￿n￿O lo wovide reasowtrAe. bjl nDt ?bsolthe 855urance against material migslalefflenl Or IDSS They include.- o Five-y¢ai plan and cash low loreca51 Afinu81 busin958 plan. budgel and ¢ash flowfrJiecasl o Regular ￿nsIderatIOn by the Trustee5 of a¢iusl resullscotnfftred %silh budgels. forecasis and ￿0$. Cash flow&￿ rewves leve S￿regatI￿ olthlies o Idenlifi¢8lion ol, alld management of. ri$ks Regular reviewof financial procedures The Truslees, In parfnership wlh the Exeeulive C￿mi￿ee IEXCOI, play & key rob in Ihè Idenlificalion. evalualion and rnonilorin9 olmajor risks 1¢ which CEME is exp05ed. CEME has robusl risk managetneni and moniloring prttesseB in lo assist in tho sirsiegic and oFrr¥lional m8nag9menl ol ihe organlsation. The risks 2re t￿￿110r£d Ihrough a Fisk iegisler Ihal is urdaiad and 19w$wgd on a regular basis. The ii¥k reyisier took$ 81 fisk5 and a$8e$ses Ihe Itnpacl on CEME based on the lollu¥ing ¢rileri8 finaTrLyal, slr81eglC, fepulalional and operational. 11 Èlso enlifies deieclron methods. PTevenlalivp and recovery ￿nt￿OIs. CEME recognisey the value and IMP￿ance of effeclive Ilsk managernenl. CEME piaoli￿S a Gullure ol risk manag8M￿l that pgrm$8ies all vels and operalional fun¢lions ol organisalron. To support this. additional tomponenls ol Ihe risk managem￿1 framework indude.. The r*quirÉmenl for all $t8ff manoyerg 10 5w¥re comprehensive pro]ecl related rlsk assessment and managetn8nl do¢￿)enlal￿n forall new Initial￿Ès, which mand4les 8n assessmenl of risk. Newdevelopmeni opporlunilips rsquiring Inve51mgni of the organis¥11￿3 iesource8 indudirvj capital itsve$lm£nl undergo a fo8￿bIlItY analysis. irtcluding an 8$se3sfflenl ol risk. CEME'& Trustees have es18blished a target for ihe bv61$ of resenfes held. lo miligale Ihe imp¥¢l on Ihe organis8V￿ of the risks Ih81 (&) malerialiEtr CEME is c(mmilled to 115 risk managernenl wttsses, and Senior Marbag81$ and Truslogs arè continuing lo devek)p and refine risk managetntsml and GonlFoI processes, sthi¢h are bolh, 3ppropriaie lo Ihe DiyanisatK)n and whose effect can bè measured. The iable below provide$ key risk$ 8nd the actions Ihat are utbderlaken lo rnanage the risks CEME also maintain5 a full rfsk re9151er ihai klènbfies the risks, deiecbon coniiols. prevention ¢onlrols and re¢ovÈry conlTol8. This Is forrna11y Fewewed on a Tegular b$%s 12

Cèntre for Englneerlng and Manufaeturlng Excellence Limlted Report of the Trustses Rlsk Economicpfe55ures. Competith)n and MaJor ClieDtb&havlourthange Annual budgetlnE ongoln8managÈmant repart5ng. plu5 rnOrtltorln8of fsnanc5al pèrformance. Révltsw of exlsllngplpelSneplus tar8eteJadd5t5ona15pend oti sale5an marketlrtgas deemed rtece55Pry rhÈon8oln8 Èvsluatlon of 1onger￿errn 5tratgv that rargetsthe d5ver51flcatlon of inrornÈ from newartd addltional ¢llÈnts. Incldent5that mayimpaCt/dama8È roputatlo or neEatlvely Srnpact op•ratlortslncludln8c¥ber seturlty. frèud and major IntldentS ProactSVe dÈtect5on. rnohltorinB inveStlgatln8 and reportln8of ￿4V￿rSe Inddentsorev•nt5. USÈ of r15k re61stÈrlsemployÈtl, Contlnved programme todrlve IT FrnproVerrent5 and strÈngthen Infrastructure nd protÈctlon of data. Substantlbl reductlon In keycttnferencerEntre IlÈMt bu5In¢SS lead5n8to rÈduced profltabllity Monltorln8of currèntconferetite faclllty btsokln8 levelgagalnst monthl¥ forecast bud6et5. RÈv1ewof currertt plpeliDe ￿nd increased markotln85FÈndas roqulred. CEME Str￿te8¥and activltles notfvlly facused to meetcharltycommlsslon RR2crlterla rvlonStoraDd rècord public bnefltactivitiÈsand keep the level ofre8enÈrallon actlvltlÈsabove any rÈ4ulred level. Impact of Brtsxlt- due to uncertaSnt¥followlnÈ th exltfrom Europèan Unlo Monltorthe aCtSvltylevelsof rental pipèllno. Monitortho Impartttn the tenat)ts b￿SSnesS comparodto prevlous perlods. ÉconornlcDownturn- due to ihe natlonal anEI Interrlatlonal Inflvences MonStorthè economitl*idlcatorseSPetlallyihe rental marketespeclally In cornparlngto tsMpet5tor5. Impa¢t of Covld 19 Monltortha cash sltuat5onwirhthe 5ntentlonof 5avlngcash. 5¢ekto Increase cashfacilitiÈS 1.0. Brants. loans an governmÈnt support. Work closélyw5th cvSton)er5to ret￿1Th 5U5talnable bu5IDe5S

C•ntr• for Engln••Tlng and Manulacturlng Exc•ll•nc• Llmlt St•lernentottrurtee< reiponglbllltles Th• Tru¢tgM {who •r• dir•dorn of Ihe C•ntrn for Engln••rfng M•nufafAurfrg Exe•lknc for th• puw•s of ¢ompAny lawl ar• rnsponslbl8 for pr•padng th¢ Twst¢•$' Annual Report 4nd tha financkql stabm•nts In •cwrdane8 w •ppllubh k8w gnd Unhd l(kngdMI Gen•rnllyAcceptad A¢￿unlIn0 Pr￿ti¢￿ lun11￿ I￿￿d0￿ACC￿￿o[Wj Stand8r(l1l Con¥)•ny l1wmq￿[•¥thtT￿1•e1 lo preproflnaxclalslat•martsfor•ath fin•r￿LI1 ye•r. Und•rcompany l#wlh• Tru•t¢•• rn￿t not •pprov• th• ffinand•l 8tat¢rnents they ar iatisfied IhBtllw glva * Irue and folr ¥hw ol Ihts •lat• ol Walrs of Ihe ch4dlable conwany and tha group and ol tho Incomlng ro$OUrt•i •nd 4pplICa￿On ol rniourc•B, Includlng thè Irt¢om• and •xynditur•, of the ch•rftsbl8 ￿rnP•ny •nd 9roup for that perS)d. In prwrlng th•1• financl•l &tat¢m•nts, th•TN¥i•8• ar• requlrod to: 1gct•uttabl• •¢¢ounting polK• Ih•n apptyth•rn con•l•t•ntty,' 0￿•[¥•th• nthod• •nd prfn¢hJl•¥ In th• Ch•rlts8 SORP{FRS102); mike I￿1gments •nd •stlmat•• thit r• rnaiombla and pwd•nt, •tal• wh•lher applieablo UK accoun￿￿ •t•nd•rd• hY• b••n follow•d. Bu¥e¢t lo •ny m•t•rf•l d•pwlures •nd•xplalnod In Ihe finand•l itst•m•ftt•,' prepare th• fln•n¢l•l •t4l•rn•nt• on tho golrvu conc•m b￿1$ uftkn• tt l¥ Inipproprfat• to pr•svm• Ih•t th• thrfthbl• c4wp•nywlll cOn1n￿ Irb buBlrffji$. Th• Tru•h•• •r• wptynslbl• fork••plng ad•qu•te accountlng r•ewd• that ar• •ulfid•ntlo •how•nd •xpJ•ln the ¢hrft•b] ￿n￿￿Ory1. dtsd￿ wth reason•bf8 at inytima th•fin•nd•lposlllon olth• ch•rft•bk• compBny •tKI •nabl• tham k •rAur• th•1 th• fift•nd•l •tat•m•rrta corytywmh th• C¢mpnki•Ad2Q06 and th• prowl•ton• ofth• n•btulbn. They r• also rnsp0ni1b￿ for 1•f•ou•￿n0 th• M•t• oftho charlty •nd Iha group •nd h•n¢A• for tlklng r•••on•ble it•p• lor tha pr•v•nUon •nd d•t•¢tion of frnud and olh•r Irwul•rltkns. L￿￿T• of Infornllon lo Audltorn In•ol•r •• of th• trut••• of th• chthibh comp•ny at th• d•t• of pprovAI ol th1• rnport h •w•M th•r• h no Mlèv•nt audtt InfO￿a￿0n ltnlom￿ti0n n•¢dad by th• Audttor In eann8don wllh pr•p•thro th• Mport) ol whlch tho charfty• •udftor l• unwir•. Ech Iruste• hai taken •ll of lh• 11op• th•t h•l4ho ihoutd hava l•k•Tr •• • tru•t•e In 0￿•r to mak• hlmBeifihgr•df •wBrn of ¢ny r•hvant •udSt thrmition and ts •stAblthh thatlh• ¢h•rWswJltor Is awar• otthatlnfornattan. Slgn•d on b•h•ff olth• 8ts*rd L• V•llfant Tru•t•• Oat• C)%(.OQ.'ts)z3 14

Centrè for Englneorlng and Manufacturing Exeellence Limlted Indep•ndent Auditors. Report Oplnlon We have audlled Ihe finan￿al slaletnenls of ihe Centre for EnglneerSng and ManufacluTill9 Excelknce for Ihe ye8r ended 31 Decembar 2022 which comprise Iht Consolidaled Slalemenl of FinancAal A¢liviltes, the Group and Charily Balance Shee15, ihe C00501idaled Slalemenl of Cash Flows and notes lo Ihe financial slalemenls, in¢Juding a summary of $i9nifl¢8nl accounllng policies. The financAal repDrting framewDth that has been 8ppliÈd In Ihelr preparalK)n is applicable law and United Kingdom Accounting Siandards. Including Finandal Reportiw Standard 102 The Financial Reporting Slandard applic8ble in Ihe UK and RtrpubliG ol Ireland (United Kln9dot Gener81lyAc￿pled Accounting Pracllcel Oplnlon on financlal stalemen In our opiryon thè financiol siatements.. give a Irue and fair view of the sl8le of Ihe group's and Ihe chaiiiable compart￿$ aff3irs as al 31 De￿mber 2022 and of Ihe gioup's illGomhg resourcès and applicabon ol re50urrs, itKluding ils Sncome and 8xpendilur8, for Ihe year Ihen ended-. . have been property piepared In accordance wilh United Kingdom GÈner8llyAccepl8d Accounbng Pract￿£,. afKS . have beén prepared In accordanc& wilh the requirerrEnls of the Compgni88 Act 20￿. Bash for oplnlon We conducted our 8udil In ac¢(xdanc wllh Inlernaiional Standards on Aodiling IUKI IISAS IUKII 8nd applicab￿ law. Our responsibilils under Ih05e slandards are further d£s¢iibed in IhÈ Audilor's responslbililies for the 8udil of the fin8ncial slalements seciion ol our report. We are independent ol Ihe group in accordan￿ wilh the ethical rÈqulreinenls that 8re relevant lo Our audil ol ihe financial slalements In the UK. includin9 the FRC'S Ethical Standard. we h8ve fulfilled our olher èlhical respon￿L)ll111es in a¢¢ord8nce wilh ihese requirements We boli8ve th31 Ihe aLJdll evidence we have ohlained is suffidenl and approprSale lo prowde a basis for ouropinion. Con¢lvsloths r8la¢ln9 to golng concern In audilino the financial slalemenl$, we have condudd that the iruslee'5 usa of Ihe golng Concern ba81$ of accounlirKJ in Ihe preparation of the financial sl8lemenls is appropriate. Based on Ihe work we have performed. w& hawe not ￿entl[led any malerSal uncertalnlEs relalino lo events or conditions IhaL ￿dIVidUallY or collacllvely, may ea515ignificanl doubl on the charitable companls or the group's ab1111y lo Contin￿ a5 a going con￿r￿ for a period of al least twelve months from whèn the financial slalemenls are aulhorised for issue. Our responsibilibes and Ihe responslbllSlles of Iha trustees wllh resped lo going ry)ncem a￿ de&critd Sn Ihe relevant secbons of Ih report. other Informatlon The Iruslees 8re responsible for Ihe other Informaiion ¢onl8ined wilhln IIE 8nnu81 report. The olh8r Information comprises the hlormalion included in Ihe annual report, other Ihan the finan￿al slalemenls and our 8udilor's report Ihereon. Our opinion on the financial slalemenis does noi cower the olher inforrnaiion and. excepl lo ihe exiènl 9￿e[w￿￿ 8xpliully sialed in our feport, we do express any form ol 8ssuran¢8 conc1u&ion Ihereon. In Gonnecth)n wlh our aLKlil ol the IinaDcial sialements, our responsibility Is lo read the other inlormallon and, In dolng so, Gon￿￿er ether the other information Malerially inconslslenl with Ihe financlal slalemenls or our krnwledge pbtslned in thè 2udll or olhptwlse appears io be m8lerially misslaled. If we idenlify such material In¢onsisienclts or apparent maleFial misslalemenls. we are requlrad lo d8lermine whèiher there is a material misslalemenl in Ihe financial slalemenis or a maiÈrial mlsslalemenl of the other inform81ion. If, based on the wotk we have ￿rformed. w• conclude Ihal there is a materi81 miSStslemeDI of th18 olhfyr information. we are yequireij lo report Ihal laci. We h8￿ nO￿ing io report in this regard.

Centre for Engineering and manufaC￿rIng Excèllence Llmited Independent Audltors. Rèport Oplnlon8 on othar matters pres¢rlbed by the coM￿nIg9 Act 2006 In our opinion based on Ihe work undertaken In the course ol our audll The infomalK)n given In the report ofiht liuslees (which includes the dirèclors. report prepared for the PUTposes 01￿mpanY lawl for the financial year forwhich the finan￿81 slaiÈmenls are prepared is Gonsislenl wllh the financlal slalemenis.. and the dire¢iors' reKX)rt Induded wNhin Ihe Iruslees. r8port have beon prepared In accordance wh￿ applS¢able kgal Nuiremenis. Matters on wblch wg aro requi￿d to report by ex¢opUon In the light of the knowledg8 8nd underslandiny ol the charllable company and its environmenl obtained in Ihe course of the audll. WÈ have not ideniified material mIssts￿MentS in Iha report of Ihe lyuslees (which incorporates Ihtr siraleoic report and the direclors, reporti. We have nolhiw lo report In re5pÈcI ol Ihe following Mat￿1$ in relation to which the Compani8s Acl 2006 requires us lo report io you rf, in ouropinlon.. adequat8 and proper accounbng rerA>rds have not kept", or the fin8n￿al sialemenls are rbDI In 8oYe.emenl wilh the accouDlino rÈcords and returns.. or riain d15dosur6s of Iruslt6s' remuntl81ion specilEd bylaw 8re not made.. or we have nol feceived all Ihe Inforfflalion and explana110ns we ￿Quire for our 8iJdil-, or Ihe trustee5 V￿re not enlilled to prepare the Ilnand31 siatements in accordance with the small cofflpanies, re8iThÈ and take advantage ol the sm811 cornp3n1es' exemptlons Sn preparSng Ihetrustees, Feport and fromthe requIr￿￿ent io pwepare a siralegirreport. R8sponslblllllfys of tW8tg•5 As explained more fully in the Iruslee5' responsibililles slalern6nl sel oiil on paoe 15, the Ituslees (who are 41so the dlredors of the charllable compgnyforlh8 puiposes of company lawl are re5pon$lbk forthÈ preparation of the financial sialemenls and for belng satisfied ihal Ihey give a true and f8lr VEW, and for such inletnal conlrol 88 the Itusl8es delermith Ss necessary lo ena￿6 the prepara￿.0￿ of rinancrdl sialemenis th81 are free from maleiial mlsslalemenl, wfElher due lo fraud orerror. In preparlw IhÈ finan￿al slalemenls, Ihe ITUSte8s 8Fe respon￿b￿ foi assessing the th8rilabl8 comp8ny's ablllly 10 contlnue as a going con￿[￿. disdosln9, as applicable, mallets related lo going concern and uslng Ihe going Con￿[￿ basis of accounling th168s lh£ Iruslees either Inte￿ lo Iiquidaie the charilabk cofflpany oi lo cease operations. or have no realistic allernaiive bul lo do so. Audltor's respon$lbllltios forthe audlt of thè Ilnan¢lal sta¢•ments Our oble¢li¥es 8fe to oblah reasonable 8S5urance abouiwhelherthe finanoal statements as a whde ar8 free from malerial tnisslalemenl, whelher due 10 Ir8ud or error. and lo issuÈ an auditor's report Ihal 5ncludes our opin￿n. Re8sonab1e assurance 15 a hvJh level of assuranc£. bul not 8 guaranlee ihal an audit conducted in accordance wllh 1SAs IUKI will alw8ys delect a maleiial misslaletneni when il &xisls. Misslalernenis c8n arise from fra￿ or erfor and are consldered maieilal if. Indi￿d￿allY or in Ihe a99￿gale. Ihey could reasonably b8 expected lo influtnce Ihe eunomic dtdsSons of users laken on the basis ol these financlal stabmenls. Iriegularilies. including fraud. Bre ins18n￿S of nofFcompllan¢e with laws and regu13ts0ns. We dÈs&n procedures in line w41h our responslbS1rties. outlined above. lo deled maièrial misslalemenls in respe¢l of irregularities. IndtKling fraud. The exienl lo which our procedures are capable of delecbrvj Irregularities. inGluding fraud is det85led below.. Based on our understandin9 of the chariiable company and Ihe envyonmenl in whKh il operaltrs, we identified Ihe principal risks of non- tompliante wilh laws and regulations ynd we consldered the Èxlenl lo which non-cornpliance rnighl have 8 maierlal elfert on Ihe financial stslements. We als(> consldered those laws and reuulalions Ihai have a direct Impacl on the preparation of the financial $ialemenlS such a5 the Companles Aci 2006 arLd the Charil*S AGI 2011. and con$idereiS other faclois such a5 GDPR. health and $8fety Itglslalion, lax le9islalion and employment legislation. 16

Centrè for Englneerlng and Manufacturing Excellence Llmlted We ewdlualed managemtrnl's in￿nI￿Ve$ gnd opporiunilles for fra￿￿Ulent manipulabon of the finandal sialemonts IlnckJdin9 Ihe rlsk or overrlde of conlrolsl. and deltrimined that the prin(ip81 risk5 w616 rel8led io management override of conlmls gnd completentrss and cul oll income. Audil procedures peiformed bylhe engagemenl leam Included.. DiStU551on5with mana8ernÈni lncludln8conslderallw of known orsuspecled in5taThcesof nDn.C0m￿1ancew1th laws and regul3t￿nandfr4Ud,. E¥alvallTh8m3nagemenl'scontro15 de5ixned io prèvent and detèct Irre8ulaflUèS; Identlfyln8 and testlng journals. particular )Dumal entrles posted wilh unuSU31 accoynt comblnions, postlngs by unusual u5Ers or wlth unusual desciiptions.. and Challenging aSSVrnPtIDnsandlvdgetnents made by mana8emehtlnthe ciltlial accounting e5timate5 Because of the Inherent limiiglions of an audit, there Is a iisk ihal we will nol delecl a11 11regu￿riIS. Indu0￿9 Ihose leadin8 io a matèrLIl m155ts1emÈnt In ihefinancl siatÉmÈnts or non-ctsmpliance with regulalion. Th* r15k IrhErÈ3ses the morE thèi cornpliante wsih a law or regulation Is iemoved from the even15 and iran51ttions rellpttèd In ihe flnancial 51aletnents, as we will be le55 likety to become awèie of Instances of tompllaDcp. The rlsk 55 alsa 8reètei ieg3rding IrieBubrfitiesoccvrrin8 due toffaud fatherthan @iltsf, a5 liaud invo￿eS Intentional conce4lrnent,for8ery A furfher description of our responsibilities for the audit of the finandal slglemènts15 located on the Finanual Report￿ll CounGil's web511e at.. vMw.frc.org.uklaudilorsresponslbllilies. This descriplion forms part of our auditorfs report. Use of our report This report 15 made Solelylo the chariiable company's members. as a body. in accordan￿ wilh Ch8pler 3 of Part 16 of the Companies Act 2006 Oui audit work has been underigken so Ih81 we mi9hl slate lo the charitable compaTry's members those mallers we are required lo stsle lo them in an Audilorfs report and for no other purpose. To ihe fullest exienl ￿[Mitted by Igw. WÈ do Dol acctpl or assume responsiknlily lo anyone other than the charilablt COrnP8ny and the chariiaUe company's Inembeis, as a body, for our audit work. lor thls report. or lortho oplnions we have lotmed. R(thard Wea¥er Senior Slslutory Auditor For8nd on behall of Haysmaanlyre LLP Slalulory Auditor 10 aueens Streel Place London EC4R 1AG D81e 22 June 2023

Centre for Engineerlng and Manufacturing Excellence Limited Consolidated Statement of Financial Activities for the Year Ended 31 December 2022 lin¢orporatinu Incomg and oxpenditure a¢count81 Not•8 Unro8tr1cted Funds Restricted Fund$ Total 2022 Totsl 2021 Income from Olher trading aelwities Investment incorne Charitable activities Skills & education and business support aceommodalion and rebted services Seoro funding Total Incom8 2,454,044 21 2,454,044 21 2,319.399 51 1,695.623 1,695,623 1,592,820 6.967 4,156,655 6,967 4.156,655 3.912,270 ExpenditurÈ on Raising funds Charitable activitiès Skills & educalion accommodation and support S8rvI￿s Skills delivery and t￿sIneSS support Total cost of charitable a¢tivilies Total expenditsjre 936.005 9￿,005 866,466 3,275,348 447,089 3,722,437 3,299.133 7,457 454,546 454,546 490 3,299.623 4,166,089 3.275,348 4,211,353 3,729.894 4.665,899 Net incomel lexp&ndilurel 154.6981 1454,5461 1509,2441 1253,8191 Nel movemenl in funds 154,6981 1454,5461 1509.2441 1253.8191 RECONCILIATION OF FUNDS Total funds brought forward al 1 January Total funds carr￿d fotward at 31 Oecemb8r 8.273,045 8,218,347 14.532,760 14,078,214 22,805,805 22,296.561 23,059.624 22,805.805 18

C•ntro for Engln•arlng and Manulocturlng Ex¢ollonce Llmltsd Charlty and Group Balance ¥h•ots It 31 D•c•rnb•r2022 Group 2022 Ch•rfty 2022 Not•• 2021 2021 FIXÉDA88ETS Tanglblo Flxed A68el8 Intsnglbl•A•$•ls Inv•81rn8nl• 24 008 999 23.989.338 17.e81 23 219 282 23,207,453 10,829 12 23,231,251 10.629 23,955,784 17,881 13 CURReNT A8SET8 D•btor• 2 163 860 788.341 15 323,283 311,928 $43,911 C••h at b•nk •nd In h•nd 1493 $10 1 397 519 CREDITORS: •mount• lalllng du• wlthlTh on• y•r 16 2,213,227 2.021.153 2.171.118 1.•85.B72 NET CURREKf IUABILITIES) P07,4201 12111.7161 17,268) 20,360 TOTALAS8ETS LE88 CURRENT UA8ILme8 22,934,1 23,7•1384 23,211024 23,894.791 CREDITOR8: •mounts f•lllng du• •rt•rmor• Ihlln on• y•ir 17 130,099 Oh7• 63J,0g• 98JA79 N•t A•••t• 22.296.1561 22,806.806 22.073￿28 23.009.312 Fund• 0lth• Chrlty ur￿¥trtBttha Incom• funJ• Ruirfcled Ine4m• ￿ndS 20 21 8.218,347 14,078,214 8.273.04S 14.532,780 8,495,711 14.078.214 8.478,552 14.832.780 Fund• 0lth• Charlty 22.296.Sll 22.805,806 32.673,92 23.009.312 Th• not•1 on paga$ 21 to 33 frKm pgrt ofthts•e finlnthl •t•t•m8nl Ce4nparby R•glstralon Number.. 04238802 Th• n•t resultforth• ￿0￿ reportedwllhin Ih•ffinknd•l actMtl•i ortho parnnt¢harftywM g dttfidlof £464.13712021: d•ft¢ltE338,6621. AFvrov•d and aulhorf9ed for on bghallollhè Board Énd •[gn￿ on th•lrb•h•llby.' [gLQMI4, Val•rf• L•V•M14nt TnMt•• 0&. 06.'zw 19

Centre for Englneering and Manufacturing Excellence Limited Consolidated Cash Flow Statement for the Year Ended 31 December 2022 Notes 2022 2021 Cash flow from op9rating activities: Net cash lused inllprovlded by operating activities Cash flow from investing activities Purchase of property. plant and equipment Net cash provided by (used inl Investing activities 575,970 597,437 146,761 429.209 293.106 304.331 Cash flows from financing actEvities: Repayment ol borrowing Finance lease Interest pa Cash inflows from new borrowing Net cash provided by flnancing activities 1361,4371 152,5901 73 833 340,194 1399,2771 174,202} 249 965 223,514 Change In cash and cash equlvalents in reporting period 89.015 80,817 Cash and cash equlvalents at the beglnning of the roporting period Cash and cash equivalents at the end of the reporting period 1,493.509 1,412,692 1,582,524 1,493,509 2022 2021 Note 1.. Reconclllalion of net (expendlturel to net cash flow from operating activltles Net lexpenditurèl for the reporting poriod {a5 per the statement of financial activities) Adjustments for: Depreciation and amortisalion charges Finan￿ lease Interest paid Decrease in debtors (Decreasell Increase in creditors Net cash provlded by operaling aGtivities 1509,2441 1253.819) 911,680 52.590 111,355) 132,299 575,970 896,321 74,202 35,319 154586 597 437 20

Centre for Engineering and Manufacturing Excellence Limited Notes to the financial statements for the year ended 310ecember 2022 1. CHARtrY INFORMATION CEME is a company limited by guarantee Iregislered number 042388621 which is incorporated and domiciled in England. It is also registered as a charity with the Charity Commission Iregislered number 11333961. The address of the registered Offi￿ is CEME Campus. Marsh Way, Rainham, Essex RM13 8EU. 2. ACCOUNTING POLICIES Baslc of accounting The accounts (financial statements) have been prepared under the historical cost convention in accordance with the Charities SORP IFRS1021 applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and UK Generally Accepted Practice as il applies from 1 January 2015. CEME Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy notelsl The Financial slalements of CEME Limited and ils subsidiary company are consolidated, on a line-by-line basis, to produce the Group financial statements. The consolidated entity is referred lo as 'lhe Group,. In accordance with section 408 of the Companies Act 2006, no individual statement of financial Activities has been presented for the parent company, Centre for Engineering and Manufacturing EX￿llenCe Limited. Preparatlon ofAccounts on a Going concern basis After making appropriate inquiries, the trustees have a reasonable expectation that CEME has adequate resources (strong cash balances) to continue ils operational existence for the foreseeable future in the case of any decline in demands. We believe that there are no material uncertainties that casts doLJbt over CEME'S ability lo continue in operation. The accounts have therefore been prepared on the basis that CEME satisfies the going concern assumption. We have sel out in the Trustees Report a review of financial perforrnan￿, the charity's reserves position and the management actions. We believe that we have adequate financial resources and are well placed lo manage these economic risks. Our immediate planning process, including financial projections, has taken into consideration the current economic climate and uncertainty and ils potential impact on the various sources of income and planned expenditure. The directors. having considered cash flows, income streams and operations believe that CEME has adequate resources lo continue in operational existence for the foreseeable future. The accounts have therefore been prepared on the basis that the charity is a going con￿rn basis. Functional and Presentation currency The functional currency of CEME Limited and its subsidiary is considered to be pounds { £ I sterling because that is the currency of the primary economic enviionmenl in which the charitylgroup operates. The consolidated financial statements are also presented in pounds sterling. 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 Invol￿d, nel of Value Added Tax. for the provision of training facilities, business incubation facilities and related supportive activities. Income from operating leases is recognised in the perSod to which the rental income and support ServI￿S relates and lo the extent to which the company becomes entitled lo the income under a tenancy lease agreement. Where income for goods and services provided is received in advan￿ of the goods or services being provided by the Centre for Engineering and Manufacturing Excellen¢e Ltd the amount prepaid is credited lo Deferred Income. On re￿ipl, donated professional services are recognisecs on the basis of the value of the gift lo the charity which is the amount the charity would have been willing to pay to obtain setvices of equivalent economic benefit in the open market.. a corresponding amount is then recognised in expenditure in the period of receipt. Amorlisalion of Capital Grants.. Where fixed assets are acquired with the aid of specific gfftnls. they are capilalised and depreciated in accordance with the slated depreciation policy, with the related grant being ¥eleased from Restricted Reserves to Unrestricted Reserves over the expected useful life of the related fixed assets. Slgnificant Judgemgnts and Estimate5 Preparation of the financial statements requires management to make significant judgements and eslimales. The areas in the financial statements where estimations have been made include.. Tangible Assets- the useful economic life of assets used in calculating depreciation Amortisalion of Capital Grants.. Where fixed assets are acquired with the aid of specific grants, they are capilalised and depreciated in accordance with the staled depreciation policy, with the related grant being released from Reslricled Reserves lo Unresliicted Reserves over the expected useful life of the related fixed assets. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised il the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Financlal instruments CEME Limled has financial assets and financial liabilities of a kind that qualify as basic financi81 instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al amortised cost using the effective interest method. Financial assets held al amorlised cost comprise cash and bank and in hand, together with trade and other debtors excluding prepayments. Financial liabilities held at amorlised cost comprise overdrafts, trade and other creditors. 22

Centre for Engineering and Manufacturing Excellence Limlted NOTES TO THE FINANCIAL STATEMENTS continued Expenditure All expenditure is accounted for on an accruals basis and has been classrfied under headings that aggregate all costs related to that category. Where costs ¢annol be directly allribuled lo particular headings they have been allc¢aled to activities on a basis consislenl with use ol resour￿s. The majority of overheads have been apportioned on Ihe basis of headcounl because that is the main driver of costs in the charity. CEME initially idenlrfies the costs of its support functions. 11 then identifies those costs which relate to the governance function. Having identified ils governance cosls. the remaining support costs together with the governance costs are apportioned beiween raising funds and the Charitable adivilies undertaken (see note 8} in the year. Governance costs are costs associated with the strategic as opposed lo day lo day management of the charity's aclivilies. TANGIBLE ASSETS AND DEPRECIATION Fixed assets are slated at historical cost or valuation less depreciation. Donated assets valued al £2,500 or over are recognised at market value as determined by an independent valuation when lille is passed to CEME. Purchased assets with a cost of £1,500 or over are recognised al historical cost when purchased. Depfeciation is provided on all tangible fixed assets * rates calculated to write each asset down to ils eslimaled resirlual value evenly over ils expected useful life, as follows.. Long Leasehold buildings and improvements thereto over 50 years Plant, Machinery and equipment over 4 to 10 years Office Furniture over 4 years INTANGIBLE ASSETS AND DEPRECIATION Intangible fixed assets ale non-monelary fixed assets that do not have physical substance but are idenliliable and are controlled by the Charity through custody or legal rights. An intangible asset is reco9nised when il is separable or arises from contractual or other legal rights and if il is probable that ils expected future economic benefits will fbw lo the Charity, and il ils cost or value Can be measured reliably. Intangible fixed assets costing more than £1.500 are capitalised. Intangible assets are measuTed inilially al cost and subsequently al cost less impairment and less any accumulated amortlsalion. The residual value of intangible fixed assets is nil when cal¢ulaling the charge for amortisalion unless reliable evidence exists lo the contrary. Amortisalion of intangible fixed assets is charged as an expense lo the relevant slalemenl of hnan¢ial activities ISOFAI category reflecting the use of the asset. Intangible assets are amortised on a slraighl-line basis over their useful economic lives. If the useful life cannot be eslimaled re5iably il is presumed lo be no more than five years. Amortisation commences when an intangible asset Is available for u8e. Intangible assets represents software costs which is amortised al 20% per annum. Intangible assets are only reviewed for impairment rf there are indicators that the asset may be impaired. 23

Centre for Engineerlng and Manufacturing Excellence Limited NOTES TO THE FINANCIAL STATEMENTS contlnued INVESTMENTS Investments in subsidiary companies of Centre for Engineering and Manufacturing Excellence Limited, are stated al c05t. FUND ACCOUNTING Due lo the conslrainls ol law and donor imposed restrictions the charity segregates ils funds between reslricled funds and unreslricled funds. Unreslri¢led funds represent the accumulated surplus on income and expenditure and are available for use at the discretion of the Board in pursuing the general charitable objectives of the charity (see Report of the Trusleesl. De5ignaled funds are funds that have been set aside out of unreslricled funds by the Board for a specifi¢ purpose. with the balan￿ conslituling the charity's General Reserves. There are no designated funds al present. Where funds are received under contracts lo run government funded programmes they are ¢lassilied as restricted. When the service is provided, if any surplus arises this becomes unreslricled wilh agreement from the fund provider. Reslricled funds represent income received where the donor has imposed reslriclions as to how the monie5 shall be spend. The nalure and purpose of the reslricled funds are also sel out in Note 21 to the financial slalemenls. LEASES Where assets are financed by agreements that give ri9hls approximating to ownership Iyinance leases and hire purchase conlracls'l, the assets a￿ Irealed as if they had been purchased oulrighl. The amount capilalised is the presenl value of the minimum finance payments payable during the finance term. The corresponding finance commitments are shown as obligations lo the provider of finance. Finan￿ payments are Irealed as consisting of capital and interest elements. and the interest is charged lo the Slalemenl of Financial Activities on a slraighl line basis. All other leases are 'operaling leases. and the annual rentals are charged to the Slalemenl of Financial A¢livities on a slraighl line basis over the lease term. There are no operating leases al piesenl. PENSIONS CONTRIBUTIONS The company operates a defined conlribulion scheme. The pension costs charged in the financial slalements represent the contributions payable by the ¢harilable company during the year. 24

Centre for Englneering and Manufacturlng Excellence Llmlled Notes to the financial statements 2022 2021 3. Other Tradlng Actlvlll08 Rent Conference C8ntie Support Servic88 1,923,576 3D3,293 227 175 2 454 044 1,651.234 413.183 254.982 2 319.399 CHARITABLE ACTIVITIES 4. SKILLS & EOUCATION AND BUSINESS SUPPORT ACCOMMODATION AND RELATED SERVICES 2022 2021 Further Educalion and Apprentices Space and Learning Support Business Incubalion Centre Cafeteria Launchpad Tralning Cenire 544,452 745,538 189,146 151,282 65,205 1695 623 557.210 715.938 136.310 127.566 55.796 1592 820 5. RAISING FUNDS 2022 2021 Conference Ctrnt Support costs Space. IT and Shared S8rvices Telèphone and Franking recharges Car park cost Governan￿ costs 463,048 152.158 262,598 9,889 21,082 394.301 159.408 256,764 16,208 10.709 29.076 866.466 936,005 Taxa￿0￿ CEME is r￿1$tered as a charily ar￿ as such is frnlilled to th& exemptions under section$ 466 to 493 Corporation Tax Act 2010. The ¢omp8ny can Glaim all VAT incurred eX￿pt where incurred on running costs or gov8rnmenl funded programme5. These progr8mmes are run on a reimbursement bas￿ and therefore the cost of the irre¢overable VAT 15 ¢oved by the grant funding. 6. SKILLS & EDUCATION ACCOMMODATION AND SUPPORT SERVICES 2022 2021 Dlrecl cos15 Depre¢lalion of building and lounding asset infraslru¢lure Support costs Governan￿ co$18 2,581,615 883,217 407,586 70.019 3 722 437 2,131,896 669,081 423,410 3299 133 7. GOVERNANCE COSTS 2022 2021 Fees payable lo th& group's auditors for the a￿1￿1 of the group's annual accounts F8es payable lo It￿ group's auditors lor othar work 27,￿0 27,500 7.000 6,100 Taxatlon fe8 payable in ￿Spect of the subsidiary Trustee expenses, r8eruitrnenl and Insurance Board and committee Suppori costs 1,375 17.010 44.864 1.375 29,814 39,052 103 841 1 Travel expenses Incurred by Trustees respecl of CEME meetings amounted lo £1,981 12021.. £8271 during the year. The number of TIustee$ rec8iving expense relmbursemenl dufing the year was 212021.. 21. Trustee Indemnity insurance cost £1,44412021.. £2,261). 25

Centre for Enylneering and Manufacturing Excellence Limited Notes to the flnancial statements Key Manauement Personnel 2 The key mana9emenl personnel of the charity comprise ihe Iruslees. IhÈ Chlef Executive and the Finance threclor. Executive tliredors ￿Ere remunerated for acting in Ihal roLe under the authority of CEME'S memorandum and arfides of assou8110n. These w51$ refiect the pay and non pay cosls of the CEO and Finance Direclor re181ing lo preparalion for arwj attendan￿ al IrusieÈ meeling5. and the p8y and non psy costs ol Non Executive Direclors. Valerie Le V85llanl was paid £15,000 for her services as a Chair. A non executive direclor, Dr Keyvan Djamarani. was paid £3,600 for performlng that rok Paymenls lo norFexeculive directors are made under Ihe 8ulhorily of CEME'S memor8n(lutn an($ 8rticles of a5$oda￿.on. The Chlef E%ecuiive, Noorzaman Rashid, started on 1st of April 2022 was rÈmmeraled as follows.. pay £101,449, pension £6.594, employers Nl £5,718 and other benefit £2.250. Mark William ICEOI resigned on the 13th of Jan 2022 was remunerated as follows.. pay £4.68212021.. £151.3251, Bonus acrued £nil 12021 £18.8221, pension £8.89312021.. £8,893). employers Nl £41812021.. £21,268) and olher benefil of £10712021.. £3.0001. The Finance DireGior. Chris Peler Rolls, started on Ihe 181 ol May 2022 and left on the 8th of Dec 2022. was remuneraled as follows.. pay £54,646, pension £3,552, employÈrs Nl £5,408. 8. TOTAL EXPENDITURE DlreGt Cost Support Cost5 Governance Cost Tot812022 M8na etnenl FinHnGe 78,033 HR 5,740 Raising funds Skills & edutaiion accommodation and support setvices Skills delivery and Iwsines8 SUPtrf)rt 756,617 68,385 27.230 936.005 3,244.832 7,457 4 (M)8 906 183.184 209,027 15,375 70.019 3,722,437 7,457 4 665 899 2021 Rai8irwJ funds Skills 8 education accornm￿Jab.0n and suppori services Skllls delivery 2nd business support 866.466 3.299.133 490 4166089 9. STAFF NUMBERS AND COSTS The average monlhly number of Per￿n$ (Including execulive director51 employed by the company during the yearwas.. 2022 2021 Operations Governance Support 20 19 24 24 2022 2021 The aggregale payfoll costs of Ihese persons were a5 folk)w8'. Wages and salari88 Social security cos1$ Olher pension cosis 842,751 92,839 804,443 82,361 983 170 942 847 T￿se recelvlng eTnployÈ8 benefits lexcluding eryloyer pension conlribulionlin the follwng ranges wer8.. 2022 2021 No. £80,001-£70,000 £60,001-£70,OOD £70,001-£80.000 £80.001-£90.000 £120,001. £130,000 £150,001-£160,C4)0 Pensions coniribulions made on beh￿f of employees earning in excess of £60.000 per annurn were £24,25712021.. £12.8901. ThÈ group operates a d8fine(I corTrlribulion pensloll sd)6me. The assets oflhe scheme 8r& heid separaiely Irom Ihose of the group in an independ@nlly adminislerÈd fur￿. The pension cost ch£r9e represents contri￿tk)n$ payabk by I group lo the fund. 26

Centre for Engineerlng and Manufacturlng Excellence Limited Notes to the financial statemgnts 10. RELATED PARTY TRANSACTIONS In the opinion of the directors the following were related parties of CEME.. Ford Motor Company. Hgverfng College of Further and Higher Edu¢alion, Barking and Dagenham College, London Borough of Havering, and the London Deve￿pMent Agency. CEME Iran5a¢led with thè related parties during the year as follows.. 2022 Group 2021 Group Regen8ralion programme funding". London Development Ag8ncy For facililies rÈnlal and provision of Core services by the Group.. Ford Motor Company London Borough of Havering Barking and Dagenham College For goods and services provid￿ by Ihe Group.. Ford Motor Company London Borough of Haveri Barking and Dagenham College Forgoods and Serv￿eS provk18d 10 the Group". Ford Motoi Company The balances lowed by) I due to th8 Group at 31 DeCeMberWe￿ a8 follows.. Ford Molor Company 8arking and Dagenham College London Borough of Havering Havering College 93,249 81,808 105,489 62,821 46,7 38,115 6,027 8.134 1.352 19.9391 3.479 116.8941 The nature of the relalionshlps with relat8d parbes was a5 follows.. London Borough of Havering Right of approval lo changes in CEME'S strategic plan and corporate governanTr structure.. London DÈvelepTnent Agancy During Ihe year CEME Ltd has r8charged CEME Enlerpri5e Ltd Isubsidiaryl c051 of £355,55312021 £340.6011 made out of costs paid on bahaif of CEME Enterpri88 totalling £321.77712021 £307,089) plus rent and services Prov￿ed by CEME Ltd lolalling £33.77812021 £33,512) excluding VAT, al year end the outstanding amount owed to CEME Ltd from CEME Enterprise Ltd was £501.54912021 £280.7381 The Conlerenff Centre includ8s £33.77612021 . £33,512) of apporiioned costs for facilily IT. Th8 apportionment has been calculated on the basis ol volutr* Of Spo￿ ulilised. There were no related party transactions in 2022 or in 2021.K8y management personnel IKMPI and Tiuste88 expenses renumeralion is dlsclosed in nol85 11 and 11 respectively 11. NET EXPENDITURÉ 2022 2021 Th8 nel expendrtuio 18 8tat8d atter charging Fees payable lo the chaiily's audito for the audit ef the ¢harily's annual account5 Fees payable to th& ehaiily's auditors for the audit of Ihe ¢harityS Subsidiary pursuant to l8gislalK)n 20.000 21.400 7.wo 6,100 Tota1 audll fees Taxalion fees for the subsidiary Total f8&s payable 27.000 1.375 27,50D 1,375 Group Group Charity harlty 2022 2021 2022 2021 D8pre¢Sallon of tangibl8 assets ortisalion of1nlangibl8 fixed as$els Rental costs relating lo operating leases.. Photocopy ma¢hine5 ILossl on disposal of fixed a$sets 904.848 6,832 13,545 9.667 891,602 6,832 9,667 27

Centre for Engineeriny and Manufacturlng Excellenco Limited Notes to thè finanGial statsments 12. TANGIBLE FIXED ASSETS Grou Long LeasÈhold Equipment and Building5 MolorVehid88 Total Cost 1 January 2022 Addilions Disposal 31 De￿[￿ber 2022 36,138.410 6,198,441 146,761 42,336.851 146,761 36.138 410 6 345 202 42483612 Depreclatlon 1 January 2022 Char9e in the year Disposals 31 December 2022 12,805,684 712,146 5.541,829 192.702 18,347.513 904,848 13.517 830 5 734 531 19.252 361 Net book valu8 31 De￿rnber 2022 22 620 580 610 671 23 231251 31 December 2021 23 332 726 656612 23 989.338 CHARITY Long Plant, Lea5ehohl EquiprEnl end Bulk1ing5 mo1orvehic￿S Total Cost 1 January 2022 Addilions Disposals 31 Dec6mber2022 36,138,410 5,990,553 143,291 42,128,963 143,291 36 138410 6 133.844 42.272 254 Dtrproclatk¥n 1 January 20Y2 Charye in Ihe year Disposals 31 December 2022 12.805,684 712.146 5.367,515 179,456 1B.173.199 891.602 13517830 5,546.971 19 064 801 Not book value 31 December 2022 22 620 580 586 873 23 207 453 33 De￿mb8r 2021 23 332 726 623 038 23 955 764 The nel book value of plant and machinery ￿CludeS £1.341,37412021 £1.442,7571 in rÈsp8cl of assets held under nance le8se5. The depreoalion charge en IhesÈ assels was E184,03412021.. £153,315). The long leasehold ￿lIding8 are Gon8lrLsLled on land ￿aSed by Ihe Ford Molor Company Limiled 10 The London D&velopmeni Agency (see also Nole 121 and sub-let by the London DevelDpmenl Agency lo Ihe Centre for Englneering and M8nulacluring Excellent8 Lld ICEMEI. The ￿ase and Ihe S￿)-lease expire in Ihe year2127. In addition 10 v5e by CEME and it5 subsidiary ccmpany to operale adivilie5 such as the conferenTr cenlre, and the Gateway to Skills Cenlre, Ihe properly asstr18 are lÈi out uTKler operating lease agreemenls and shorl lerrn rentals. 28

Centre for Engineering and Manufacturing Excellence Limited Notes to the financial statements INTANGIBLE FIXED ASSETS (Group and Charl¢yl Software cost 1 January 2022 Addilions Disposals 31 D6cember2022 34,160 Depreciation 1 January 2022 Charge in the year Disposa15 31 Det8mber 2022 16.499 6,832 23,331 Nat book valutr 31 December 2022 31 December 2021 13. INVESTMENTS Group Charlty sh8￿s in group undertakings and parficipaling interests Investment in subsldlaries CEME 0￿￿ 100% oflhe issued sha￿$ of CEME Enterprise Lld. 1.000 14. TRADING SUBSIDIARIES Nei expenditure of CEME before (*Jn$olidalion ol the tradiro subwdiarie8 was £454.13312021 .. £338.6821. resums for CEME Enlerpris& Limited (company number071159231 are shown below. CEME Enterprise run5 Iha conference ￿nIre at CEME. Nel li8bililieÈ of Ihe company ¥vere £276.36412021 £202,507) al year end. 2022 2021 EMEE È Llmile Total incorne GoverntnÈnl grant Cost of sales Gross Profil Administration costs Inlere$l receivable ProfiVIL05sI before taxation 303.293 413.183 269 534 33.759 1107,6161 211.708 201.47S 2022 2021 Fixed As8els yang1b￿ Assels 23,798 33,574 Currenl Assets Debtors Prepayfflenl C85h al bank and in hand 58.491 40,561 185.005 31.183 Crediiors.. amwntsfalllng due wlhin one year Creditors 543,658 307,825 Nel Current Liabilities Total Asset Less Current LIa￿￿tieS 1300,1621 1236,0811 202 $07 C8pilal and ReseNas Share Capilal Relalned Eamings 1,000 277.364 276.364 1.000 203 507 29

centrè for Engineering and Manufacturing Excellence Llmlt&d Notgs to the financial statements Group Charfty 2022 2021 2022 2021 1S. DEBTORS Due wlhin one year. Trade deblors Amounts owed by group undertakings Olher debtors and prep8ymenls 183.175 217.072 124,684 501.549 140.108 766.341 168.317 280,738 94.856 543,911 140.108 323,283 94.856 311.928 CEME Lld h88 %cwed an OV8fdraft faC￿51Y of£40D,OO0￿1h Bardays bank. This is secured on nel debiors. Group Charlty 16. CREDITORS & LOAN '. amounts falllng duo wlthln ono year 2022 2021 2022 2021 Trade cr8dilors Deferred Incotne Obligations under finance lease and hye purch85e conlracts CBILo3n Olhpr taxes and social 5ecurily Other uedi1015 and accruals 531.953 384.803 384,870 363.079 511.468 384,803 374.*4 363.079 192,207 106.332 101.e21 896.111 2,213.227 268.651 63.137 68,082 873.334 2.021.153 192,207 106,332 90.041 886.267 268,651 63.137 52.033 864,008 1,985.872 Movèment on dgf•rrod Incom0 Due with In one yearl Group Charlty 2022 2021 2022 2021 Oeferred incotne brought forward RealisÈd durSng Ihe year Deferred during Ihe year Deferred income carried fotward 363.079 363,584 11.371,4771 11.735.340) 1393.201 1622 285 384 803 250 529 363,079 11.371,47n 1.393.201 384 803 363.079 11,725.1071 1612.557 250 529 Deferred incotne reL816s lo renlal inGotne received in gdvarKe of lh& period lo Ythith it relates. Group Charily IY. CREDITORS & LOAN '. amounts falllng duè after morè than one year 2022 2021 2022 2021 Deferred income Obliyalions underfinance leasas and hi￿ purch8s8 agreements C3ILoan Tolal creditors falling due after MO￿ than 1 yr 186,049 279.073 186,049 279,073 147,429 304,621 638 099 290,411 415,995 985 479 147.429 304,621 638 099 290.411 415,995 985 479 CBILoan lerrns a￿ 5 y&ar8 wlh the first paymenl during Jul 2021 112monlh afterlhe first dra￿￿J0￿M), and a margin of 3%. The fir5112 months are repayment and inleresl free. CBILo¥n 2 lerms are 5 years wlh the first paymenl during Jul 2CI22112monlh afler the first drawdownl. and a margin of 3%. The first 12 months are repaym8nl and inleresl free.

Cgntre for Englneering and Manufacturing Excellence Llmited Notes to the financial statgm8nts Group Charlty 18. COMMITMENTS UNDEROPERAMNGAND FINANCE LEASES 2022 2021 2022 2021 Future tninimum operatiny1è888 payTnenlS ar? as follows." Plant and machinery.. -Wilhin one year -Belwe8n one and five years 1,044 5,220 1,200 1.044 5,220 1.200 Fulure mlnlmum fln8nc&1oasè paymenls are as follows.. Group Charlty 2022 2021 2022 2021 Bullding. Furniture, Plant and machiwdry.. -Wilhin one year -Belween one and five years 192.207 147,429 268,651 290.411 192,207 147,429 268,851 29).411 The London Developmenl Agency r￿1 the land on vthich Ihp CEME can1￿ ofexcellÈnce is sited on a 125 year lease lo CEME al a peppercorn rent. This ￿ase excludes Ihe Innov81ion Cenlrt and expires in more than five years The London Developmenl Agency ￿nI Ih81nnovalion Cenlie land on a 125 year lease lo CEME al a peppercorn renl. ThSs lease expires in more than five years. 2022 2021 2022 2021 19. RENTAL OPEIiATING LEASES The fulure minimum lease ren181 income due from lenanls opeialing leases are a5 folloYJs". -nol18lerlhan on8 year., 4alerlhan ontr year 8nd not later than five years -later Ihan five years., 2,660.416 2,118,693 2,533.575 2,599.409 2,660.416 2,118.693 2,533,575 2,599.409 20. STATEMENT OF FUNDS Balance lJan22 Income Expenditure Balance 31 Dec 22 un￿strICted Ineome Funds General funds 8,273,045 4,156.655 14.211,3531 8.218.347 Reslricled Income Funds Tol81 14,532,760 22 805 805 454.546 4 665 899 14.078.214 22 296 561 4 156655 202Q Comparativtr Balan(* 1 Jan21 Income ExpeThJilure Balance 31 Dec 21 Unreslrieled Incorne Funds General funds 8,072.318 3.912,270 13,711,543) 8,273,045 Re51rirl8d Income Funds 14,987.306 23 Q59 624 d154 546 4 166 089 14,532,780 22 805 805 3912270 31

Centre for Englneering and Manufacturing Ex¢ell•nce Limitsd Notes to th& financial statem$nts 2q. STATEMENTOF RESTRICTED FUNDS Balanc 1Jgn22 Expondlturo Balan¢8 310gG 22 Capital 8rKI revenue costs of the GaiÈway lo Ski115 Centre Capital 8fKI revenue ¢osl8 of the Gateway for 8usine8s programme SRB 5 Capital- Delivery plan SRB IT Capiial DTI, Innovalive Clusters Fund LDA granl for ereGlion ofcampus and acqui5ilion of188ehing equiptnent ERDF (X)jeclives11 LSC Capital, NTI Capilal Department for Communrties and Lo¢al Government HSSMI 40.216 11,1361 39,080 15.909 14561 15.453 3.417.557 668,199 2,598.924 S57,330 3,823.535 1107,9231 121,0661 181.9831 117,6(M)I 1117,0841 3,309.634 647,133 2,516.941 539,730 3,706.451 2,315.338 625,516 460,878 9,358 2.242.222 605,763 446,449 9.358 119,7531 114.4291 14 532760 14078214 1 These grants were coniribullons to the capiial bulldlng and iDfra5truciure setup cosls of Ihe CEME campus. 2 These grants were provided lo equip the Galewaylg Skills Education cenlre. 3 This grant ¥Yas provided 10 Équlp Ihe Gateway for Bu81ness small business support programme. 4 This grant provides funding forlhe High Speed Sv51ainable Manufacturing In51ilule. HSSMI Is a division ofcEME th a purpose ol conducting188dirvJ edge manufacluring ￿searCh Y￿1h an aim of improving effiuency of manUfactU￿r$ and supply chain companies. The iemainder of £9,358 will be paid lo HSSMI once CEME receives a funding request. Analysls of net assets betrdefrn funds Restricled Funds 14,068,856 Unr8s1ricted Funds 9,162.395 10,829 1,896.449 12,213,227) Tol81 Funds Tangible fixed assets Inlan9ible fixed assets Current assets Current liabililres Creditors falling due after one ye8r Al 31 Dec 2021 23,231,251 10,829 1,905,807 12.213.227) 638 099 22 296 561 9,358 14078214 8218347 Comparative 2021 Analysis of net assets betweèn funds Resthcled Fund5 4,523,402 Unreslrided Funds 9,465,936 17.661 1,796,080 12,021,153) 98S 479 8 273 045 Tolal Funds Tangible fixed asse15 Intangible fixed assets Current 8ssels Current liabililtes Creditors falling due afterone year Al 31 Dec 2020 23.989.338 17,661 1,805.438 12,021.1531 985 479 22 805 805 9,358 14 532 760 22. CONTROL CEME is under the common control of Ford Motor Company, Havering College ofFurfher and HgfEr Educalion. Barking and Dagenham College and London Borough of Haverfng. The company's ArtIc￿S of Assooaiion dated 2 January 2010 slate Ihal ead) of ihe 8bo¥e 15 a member ofCEME.

Cèntre for Englneering and Manufacturlng Excèllonca Limited Notss to the flnancial ststements Unre¥tri¢ted Restrlctèd Funds Funds Total 2021 23. COMPARATIVE SOFA BY FUND INCOME Income from gonerated fund8 Olher trading acb-vilies Investment incornÈ Incomè Irom ¢haritsbl8 actlvltl Skills & education and busine$5 support accommodation and relaled setvices Total Incomè 2,319,399 51 2,319.399 51 1,592.820 1,592.820 3,912,270 3.912,270 Expendilvre on Raising fur￿$ Charitable Aclivilies Skills & educalioii accommodallon and support servi￿$ Skills delivery and business support Tolal èxpendStur 866,466 866,466 2.845,077 454,056 3.299,133 490 454,546 490 4,166,089 3,711,543 Nel lexpendilurel 200,727 1454,5461 1253,8191 RECONCILIATION OF FUNDS Tolal funds brought fotward al 1 January Total funds carried fowrd al 31 December 8,072,318 14,987,306 23,059,624 8.273,045 14.532.760 22.805.805 33