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
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18
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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 iro*th. 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¥ reduc*d 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￿rk1p*t￿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 th*t ￿11 produ&) ov•r 26% 01 •ll our
•ner9y on Ole. We ￿ter1ed • tontrador ind ￿[? In * po8l1i?n hthere o)uld •ubmk • applit*tlon, t•¥dy ft*r
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￿ pro*p•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$lees 01 the centre for EnylnÉÉring and M8nufacluring EY¢ellenc8 LKniled Ihoreafter kr¥)vm as CEMÉ Lld.) are ihe tharily's Try￿lee￿
under eh81ily law and Iho dwp¢iors of the ch8filable cofflpany The Trustees ol CEME Lld. p￿sent their Annual Rewrt for thè year ended 31
Tre￿Mber 2022 under Ihe Chdrrt19s A¢t 2011 and thtr Companies A¢1 2006. Inclu0￿￿9 the DireGlors' Report togethgr %*ith the audii*d financial
sialemenls for the year.
Charttwble Oblecl8
The obje¢ls lor Ihe cornpany is ¢stab￿s￿￿d fihe obie¢is'l are the promolion for Ihe pub￿¢ beneliL of urban or rural regtrnwallon In
5ele¢led areas of soci81 and E¢onomK d8pfro8lion In the Borou9h5 Of Towèr Harnle15. Hackney. Netham. Green￿1C￿, Btxley. Barking &
Dsgenham. Havering, Thuffod(. Waliham F￿esi, Redl￿￿￿ge, Le%%isham. Enfield, Haiirbow and Dartford Iiogether Ihe'bDfoughs'l.
Revi￿ of Strat•glt Alms and Koy Objective
The CEME Vision 1$ 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 w*ere 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 opportunil*S 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 ach*ve. 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 s*tor 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 bu*nesse5.
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 T<uslees GLMfiim Ihal ￿eY adhere. observe and moniior Ihe
guidance as published by Ihe Charity Commission seclion 4 01 the Ch8rilies Acl 2011 revie￿1￿ the charily's aims and objeclivos
and In planning lutuie activilies. The Tiuslees confirm, in Ihe Iw)hl ol Ihe guidancB. that Ihese aims. fully meet ihe applicab￿ public LKpntfil lests
and Ihal the aclivilies of Ihe tharily. described In this report fourspecifit Sirns. are urbd8rt8ken In pursuit of those Aini5.
The Truslg¢5 rev￿ Ihe activities sel oul V•ilhin ￿e RR2 adivilies under the Promotion of Urban and Rural Ropnerslion for P￿lIe benefil wi
areas of sttial arO t¢onomici5eprivaiion The Chaiily CommiS￿on a3 a¢haiik8ble purpose recognised Ihi$
What CEME doos
On ils East Lon￿￿ c¥mptss CEME offers good qush'ly. hvJh S￿cIfi¢¥I1Orn 8ccommodalion forlraining solution8 fKOVKlers. ID ¥ddilion to techn￿81
¢Lqssrooms and facililres. CEME provides ils cu$lomer6 ￿1th eAensive enoineeriny and lechnital w)rkshop5 and lab¥ equipped Yéilh o r8nge ol
ewin8eAng and produ¢idgslw, lestand development equipment.
CEME a150 operaies aa Innovalion Genlre and a Laun¢hpad siart up ¢ènire on Ihe campus. providing high qvalily 0[f￿e and w)rkshop sp￿e to
5UPWrt ÈaTly stage grO￿*h and 51ari-up tyusine5ses. CEME airns to ploy￿￿ Ih8se cuslom$rs wlh a one-stop shop for ￿sIDesS supporf setvices
and advKe. $11 slmed al accekialin9 grobthh. E8$1 Lon¢*>n 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 sL*lus 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. weli*ng, 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 Ih*m 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 $upwri accelerated grovrth.
During 2022 Ihe CEME Innovation Centre pro%ryd6d office Gpace business support lorover 10D small businesses. The Inr￿vatIon Cwlre
hAs had an average OGcupaD¢y ol over 80% during ihe yaai. In keepin9wilh previous years. sever21 lenanls oxp8nded during the year,
effe¢iively oulgrowryno the Innovalion Centre. Laun¢hp8d building 1$ y*ared 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$ses wlh an
aflordAble Itswrisk accommodalion sdulKn This aLtiactrye oftering is ev￿￿nIly meeting a n*sd and conliDv8d 10 enN>y LKcupan¢y levds in
exc8ss tsf go% Over1￿ y68r. We ¥￿11 knng 8ddilK>nal sm¥ller units online In 2023 to tne61 a orovAng ¢u$iomèrd&mand.
For ￿SineS￿¢s. Bre small lo afford an Offi￿ in a bUs￿eSS centr8. CEME of*eFS 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. $wne of th*sè activiligs arè delegated lo sub-Gommillees ol th$ 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 $6piice6 10 businesse5. This income is 3uymwled by revenue5 from 8
trading subsidiqry that wns a ￿￿le￿nCe centrB #I CEME. Thege revenuos are discbsed as 'InC￿e. on the co[￿0[dated Slaièmenl of
F￿ancIaLAc￿Vlt￿S.
CEME opeiales a numtyer of buildiws on ils p*k. Ihe main bulldill9 that a¢¢tynmodates the yoviders fw Ékllls and educalicn and Drfi¢e space
as well as the conference Gwire. Olher ￿lI￿1r￿J5 include a ￿￿O71Y d&voled Innovation ¢eThi￿. CEME'S revenuè for ihe yearwas £4,156,654 8nd
the adjuslEd10sS 15 £527.995 Ilhe ios$ 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$s spaGe in Ihe VI￿n11Y olEasl London, 8¢ces5ible bycar offeriThJ 8 secure
and safe Covid lg prepared 6nvironffleTrl. The anlicipaled occupancy In 2023 provides 9 reasonable assuian¢8 of Sta￿e k*rforM8wR and
steady cashflows lo meeiworking Ga￿181 needs and seNicing debl on 8 iimdy basi$.
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 5trat*gv
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
FrnproVerr*ent5 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 b*nefltactivitiÈsand
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¢•$' Annual Report 4nd tha financkql stabm•nts In •cwrdane8 w
•ppllubh k8w gnd Unhd l(kngdMI Gen•rnllyAcceptad A¢￿unlIn0 Pr￿ti¢￿ lun11￿ I￿￿d0￿ACC￿￿o[Wj Stand8r(l1l
Con¥)•ny l1wmq￿[•¥thtT￿*1•e1 lo prep*roflnaxclalslat•martsfor•ath fin•r￿LI1 ye•r.
Und•rcompany l#wlh• Tru•t¢•• rn￿t not •pprov• th• ffinand•l 8tat¢rnents they ar* iatisfied IhBtllw glva * Irue and
folr ¥hw ol Ihts •lat• ol *Walrs of Ihe ch4dlable conwany and tha group and ol tho Incomlng ro$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• n*thod• •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• h*Y• 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• th*rfthbl•
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 ¢h*rft•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¢mp*nki•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•
tru*t••• of th• chthi*bh 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•. E*ch 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•rWs*wJltor 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 re50urr*s, 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 responsibilil*s
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&crit*d 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 combln*ions, 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￿riI*S. Indu0￿9 Ihose leadin8 io a matèrLIl
m155ts1emÈnt In ihefinanc*l 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 $10
1 397 519
CREDITORS: •mount• lalllng du•
wlthlTh on• y•*r
16
2,213,227
2.021.153
2.171.118
1.•85.B72
NET CURREKf IUABILITIES)
P07,4201
12111.7161
17,268)
20,360
TOTALAS8ETS LE88 CURRENT
UA8ILme8
22,934,1
23,7•1384
23,211024
23,894.791
CREDITOR8: •mounts f•lllng du•
•rt•rmor• Ihlln on• y•ir
17
130,099
Oh7•
63J,0g•
98JA79
N•t A•••t•
22.296.1561
22,806.806
22.073￿28
23.009.312
Fund• 0lth• Ch*rlty
ur￿¥trtBttha Incom• funJ•
Ruirfcled Ine4m• ￿ndS
20
21
8.218,347
14,078,214
8.273.04S
14.532,780
8,495,711
14.078.214
8.478,552
14.832.780
Fund• 0lth• Charlty
22.296.Sll
22.805,806
32.673,92
23.009.312
Th• not•1 on paga$ 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