2023-12-31-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 2023 ceme

Centre for Engineerlng and Manufacturing Excellence Limited Annual Report and Accounts Contents Chair and Chief Excecutwe's outlook Legal And Adminislralive Information Report of the Trustees Ststemenl of Trustees, responsibilitias Independent Auditors, Report Consolidated Slalemenl ol Financial A¢livilies Charity and Group Balance sheets Consolidated Cash Flow Slalement Notes lo the financial slalements Page 34 14 15 18 19 20 21

Centre for Engineering and Manufacturing Excellence Limited Chair and Chief Executive's outlook At Ihe eTrd of 2022, businesses were feeling optirnislr about Ihe futu￿ despile a prolonged period of un(trtainly, and occupancy rates al CEME were still a healthy 80•A. Ovemhelmingly. the Main points of conversations soon became the invasion of Ukraine the impad on the cosl-or- living crisis and confidence as a result of looming inflalKinary costs. For CEME ii5ing energy ¢osl$ had a signili¢ant but manageable impact on our cashnow. We have used brokers to he￿ identify the m081 advantageous pricing for fixed periods. CEME needed to look at Sustainable long- term gr0￿h with some ￿rtaInlY In how we 51ruclured and managed our business now and for the futu￿ and. after a lot of hard work, we a￿ delighted to report CEME exceeded ils prolil before 18X targ&l by nearly 30%. Thls was the outcome of a complete review ol our approach lo faulilies management. operating ¢osls, and in particular management reslructure and implemenlalion ol a new CRM syslern. A newly appointed Business Growth Directoi and almost entirely new commercial team ha5 increased occupancy from 80% to 96% However, we have seen a trend of firms wlh larger office and workshop spaces looking to downsiTr which may Impact the business in 2024 CEME'S airn Is lo achieve operalional excellence. By achieving Ihis, we can cieale new opportunil18s lo manage addlI￿nal facilities on behalf ol others and, by 8dding our USP to the management service CEME Can help drive eGOnOrniC regeneration through job creation and Social impact. CEME has begun it5 journey lo achieve 'Best Place lo Work" accreditation, and this ha5 already helped improve slaff retention and cdlaboralion across Ihe biisiness, leading ID efficiencies and cost savings. In and amongsl the Changes a new employee benefits package has received a plus approval rating from all stall. We have exiled from a conlra¢t with Lexington who were running our cafeteria. Whilst they provided an Èxcellent servi¢e, il was only viable because of a subsidy from CEME, which was un8u8t&in8b￿. We are looking for a ¢osl neutral 501ulion in 2024. The new CRM syslem has helped CEME to streamline ils sale5 aGtNily, Invol￿ng and debt management conlribuling lo further efficiencies arKI improved Cashifow. The r8strucluring of the Senior MansgÈmÈnl Team means that we are qui18 L9an ar)cl so risks continue to be assessed and with our arnbit￿n to create CEME 2 in the near future we are cons￿ering how be51 10 increase our Staffi￿ through apprenliceship8. We have lo¢used on internal resour(Es for maintenance lo save cosis with the ¢realion of a 5pecia1151 role that continues to reduce our costs for planned prevenlalDie maintenan￿. A plan s being prepared to manag8 dllapidal￿n ¢osts in an achievable way. Our new 5-yeai slralegy 2023- 2028 described three clear outward fatsng objeolive5, to act as a." lil Catalyst for e¢onomrc regeneralio lill Accelefalor for Green-tech bu&nes8es focused on reducing ¢arbon emissions and achieving Net Zero liiil Champion for indusive business growth CEME'S Business Growth Academy now has 1,500 members 2nd is fast becoming recogni5ed as a vibrant and valuable platform to learn and be inspired about business growth. During 2023 we ran four key events attended by 60-80 parti¢ipanls each, and a series of online and in pgr50n ￿arnIng events on everything from generating sales to e-comm8r( and cyber security. Our Skills for Growih project for SEGRO, combined with our own projects, ha8 helped CEME to deliver just over £1m worth of social value impact lindependenlly measuiedl using the Thrive system. During 2023 we re￿ived significant d8￿gatIonS by Government agencies frotn Kenya. South Africa and Holland reflecting the influence we are having through sharing the CEME ambitions to create economic prosperity.

In 2023. we appointed Or Richard Hul¢hins as our new Chair ol Auclil following Keyvan Diamarani ending his 10 years ol setvice on the Board. for which we are grateful. Ke5wan's wise coun881, friendship and suppori is appiecialed greatly. In 2024, a further 3 Iiuslees will slep down Judith Amill folbwing 12 years of 5ervSce, and Barak Maoz and Findlay MacAlpine, who both will have served two terms16 yea15.1 Their Servi￿ has been invaluable. and CEME has benefill8d 9really Irom Iheir skills and experien￿. In 2024 we wll appoint 3 new trustees to alvJn more dosely with our strategic objectives and skill needs to a¢hiÈve these. We are looking forward lo a strong 2024 with some exciting partnerships on the horizon. Volerie Owen OBE, Chalr Dr Noorzaman Rashld, Chlef Execllve

Centre for Englneerlng and Manufacturing Excellence Limited Legal And Administrative Information BOARD OF TRUSTEES ame Valerie Ellen Le Vaillant (Chairl Noorzaman Rashid Ichief EK8uJliv8 Offi￿rI 8enyoutef HouhechÈ IFinance Director) 8nisalion Re resented Appointed 2011112023 Appoin18d 0811212023 Appointed 0110412023 Richard Kingsley Hutthins Geoffrey Rithman Judith ATmill K8yvan Djamarani Findlay Macalpine Barak Maoz Neil Andrew Slubbings Alessandro Allanasio Ford Motor Company Reslgned 3111212022 London Borough of Havering Ford Motor Company SECRETARY Michael Wood REGISTERED AND PRINCIPAL OFFICE CEME Campus Marsh Way R8inhatn. Essex RM13 8EU COMPANY NUMBER 04238862 (England and Wales) CHARITY REGISTRATION NUMBER 1133396 (England and Wales) AVDITORS Haysmacinlyre LLP 10 Queen Street Place London EC4R 1AG BANKERS Barclays Bank Pl¢ 1 Churchill Place London E145HP SOLICITORS Forslers LLP 31 Hill st￿et London W1J5LS

Cantre for Englneerfng and Manufacturing Excellence Llmlted Report of the Trustèes Thg Trusle£s of the C¥nirs for Enginèèring and Manulacluring Excellence Limilpcl Ihweafter knolffi as CEME Lld l are the chori1￿$ Truste25 und¥r ¢h4rily Lgw ancs the directors ol Ihe charitabl& cornp8ny Tha Tiusiees of CEME Ltd presenl Iheir Annual Report for Ihe year ended 31 December 2023 undef th& Chanii$¥ A¢t 2011 8nd the Companies Acl 2006, indud1￿ th9 0￿Clor£, Roport ￿gether wth the 8udiled finan￿al slalemeni$ for th$ year Ch•rlt8bl& Obl•ct8 The o'e¢ts for Whleh the compBny is esiablishgd l-Ih6 0th8¢i$"l arè the promoiK)n for Ihe public benefit ol uiban or tui$l ￿￿ÈnÈr￿0n In selecleo areas of s￿￿al and s￿noMIC depriv¥lion ￿ the Boroughs of ToKr Hamlets. Hackngy. Newham. Gr8en¥ich. Be￿ey. Batkin9 & Oag9nham. Haverirvj. Thur￿￿k. WBllh8m Foie51. Redbridgg. L•sisham. EnTr$ld, Harlngey and Dartlord I10gelharlhe'borough$"l. Revlew of Strategic Alms and Koy ObiBrlive Th• CEME VlsSon Is a vlotld Mthere ewineering, te¢hnDlogy, design arKJ manufacluring businesses improve lile ¥nd ￿lIb¥nO CEME Is cornmill£d lo cifaling prospÉrity In the seclois and communi1￿5 il serves. Ihrtsuyh Ihe cre2iK)n ol 8n enwronrnenl where biisine55 yrovrth 1$ at￿le¢aled, creaiing newempbymenl oppt)rlunilios, facililailng Ic2lning and developmenl acliwlies lo help local rpsid8nlg dèvèlop ihe Skills. apblud8 and allilude ￿￿$￿ 10 secure 8nd Ihrive in those newjobs. CEME are embedded ￿. arwj proud lo Support the UK m8nulaciuring, erwjineerino $nd iÈ¢hndoyy $eciori CEME k>Dk for OpW￿ni￿eS lo Cr￿le econDmi¢ proswly 8nd grovAh In areas that fflay be Overlooked. or worse still 8voided. becauBe the challeng8 lo cr0816 e¢orom grtrmh appears lo be unlikely lo athieve. CEME b￿leyeS Ihal regeneration Ihough eG￿0[￿lc gr0￿h is p(bssible when $18ketrK>ldeis come loplher io create inspiring pioiècis. We adiieve amazing oulcotlles through loiming èlfèclive pailiieisliips key siakeMlders Irorn industry $nd Ihe public sector lo create ITrSPITing proiécls ihai sei¥e Ihe communities ￿lIhin Iheir bcality. We y￿rk Nbiih partner organisalions lo deliver a seivice that, Ihrough experi@￿e, know support$ inua$èd bu￿nÈsS suc￿sS 9rolh loiourcuslomers. Wg provid0 ¢u$IDmÈrs vAlh oifices, lab S￿¢￿, maching workshops, WO￿typI[19 fa￿￿Eles, ￿￿nesS and fundiw skills, awenlKeship5 ¥nd mole. CEME'8 protnise is 10 afvoys do lis best lo live v8lues in providing our cusiometswith an Insplraiional envyonfflentfor and busines$ grtmth, kntrN Il works. and ourcuslomers busln&S5e¥ yrowfasiei as a resull CEME Valups Inspiring. Inrlusivo. Innovatlve. Open and Honest. CEMF ￿ mole IhAn ifFspirSlitsnal environmeDI lor b115ine5S and le8rning- il's & dynamic tonlribulot lo bus￿eSs gr(Mlh help￿g businesses baséd ai CEME lo grow fa51er Ihan Ihe nati￿al average. The creaiion ol our Business GToYh Academy is a pprfecl frxbmple Of ho¥V Ihwuyh leainin9, collaboialion and neiworklng we add vah)e for enlTepTeneurs. start-ups and innovalive bvsinFsseg Our mi¥¥ion 1$ io Insplre Incluslve business growth, contribuling to oconomlc plospèilty. By wvtking VAlh organisalions Sucl) £s Ihe Th8nies E51ua(y Gro￿lh eoard. Thaffles Fr8eporf Local London we are in an oplimal posiiion lo holp our business community benelil from regional r8g8nBr8liOn >nrl Ilie econoilllc iiifr£slrucluie delivered by lh& Thsfflos Freeport and the 8￿1VIng hydiogen energy ecosysltm CEME business campus has been chosen as Ihe prel8rrd $1￿ for a t29m devek)pmenl lor 8 HydTooen L￿1Trg Lab enabling 0$ 10 act 89 A calalysl for econ￿nIG regenerati￿, skil$ dev8k)pmÉnt arKS job CTeabon. We Iwk ILKward lo w)rkiny ￿lIh padners lo realise this optK>rtunily. Our vaues re5el ln 202Z define our amtilv)n$ and $$pK8lions lo acl as g ca18lys1f￿ economK f8generaiH)n. a¢¢slèraior forGraenlech and very impoilanlly lo in¢lusive busirÈ5s grovAh. We have adopted v$lue¥ lo help dir¢e behaviours .8lblude and PD6ition CEME 10 bg mtye pnyagino Vvilh our communilies and lo￿1 slakeholderorganisalionswlh similBr aspiralioTrs.

Centr8 for Engln88ring arbd Manufacturing Excellènce Llm5ted Report of th8 Trust&8S We V•ill be In¥plring hdpiny people lo a¢hleve mtye We will bè In£luslvfr invoiving everyone regard￿5$ olvtho theyAre Wèwll be Innovaii¥•. expioring Ihinking Ihaiwll ch2noe Ihe worfd and howw& liv6. we￿￿1 be Open and Honest. disp￿ying the hiohesl levels of inlegrily in 811 Ihalwe(kJ. Overvlew CEME conbnues io deliver 2 FK)5I1ive economic ImpAcl In EA51 London and the ￿{￿r Thames Eslu$iy area Since Its openlng kn 2003. CEME brings log@Iher etnployers. educators, Skills, and training organisalions in a uniqLJg and effeclive way- delivering faster business giovrth wlh up3killiny ar￿ Ir8inino ol b¢al residènls The oulwme we strive for rs ¢ompsnie$ gro￿7￿¥) fa31er. being tnore arnbilw)vs. fiDdin9. and developing I￿al lalent. Companies growfasler. on and off the campus and local residents parficipale in Ihis gromrth. as em￿oYees. as business and ascuslomers 8nd $uppli¢rs Of CEME. -Skillnèi have been ruThnlng Ihe Ford Molor COrn￿ny ApprenI1￿$hlp Programme from CEME foi 10 wis. ul111￿n0 a number ofihe sngineii wotkshop C￿&5[00￿ faaliiies lo deliverApprenlice Iraining. CEME provideB an Ideal Bpace lo ￿trOduCe technical engin&erirwJ edUCa￿On in a gafe and ¢b8n working envir￿mon1 Ih$l Ja¢¢¥ a signif￿Thi èmpha$l$ on th$ Htr¥llh. S8fely w811being of ils lerTranls. From ￿&S East London CAmpus CEME hosis a lange of puNK and private oiganis&lK)n5 delivenng.. ComTn8rcial bU￿￿eSS Irainifig Sma11 business SUPPOrt and devebsxnenl TraiDing and oducaiion in businBss relaled $ludies Apprenli¢e$hips and re181ed edu¢81ion in eng1neering teChr￿lO0Y sectors TraIn￿g lor Ihe publrc seclor A le¢hnDbgy ¥iati-up innovaiion ¢enlrfy A￿)r1d ￿3s5 evenlspace oper£lion Svppotiing irbward invesltnenl missions lo thè region PuL>li¢ Benerit ceME's Bo8rd of Truslees iegulaily monitor and review Ihe success of Ihe organisalion in 8¢hiwiny its aim lo ¢fe$le faster 8nlfrrprise gfQWth leading lo Increased levels of empk>ymenl in the communilies il 58tve5. The Truslees confirrn th81 they 8dhere. observe and monitor I guidance as published by IhE Charily Commis¥ion under 5e¢lion 4 01 Iho Charilie¥ Act 2011 revMiryng the charity's aitns al￿ objeclives and in pLqnnirvJ future Adivilies The Truslees confirm. In Ihe lighl of ihe guidance, Ihal these aims,. lully meet Ihe 2pplicab1e publlc benèfil lÈ$l$ and Ihal th& act￿llieS of Ihp charity, descilb￿j in Ihi5 report underfour specific¥Affl& are underfaken in pursuit of Ihose aims. The TrusleBS revigw Ihe aciivilies set out ￿lihin the RR2 act￿lI1£S under the Promotron ol Utban and Rural Regener81ion for public benefvl in area¥ ol so￿al and e¢onomi¢ d6pilvai￿n. The Charity Commi$oD 8$ 8 th8ril$b16 puw$o roynistsd this. What CENIE dcpes On Ils Easl London campus CEME oflers good quality, high sp8cificalv)n accornmodalion lor Iraining solulions provideTS. In addilion io leChn￿al s$r¢oms and fatlNtkgs. CEME fts customers ￿th e￿enSiVe englnèèrino and lèthnic41 wjrkshops and lab$ 04vip￿d vllh a rang6 01 engineering and woducld95ign. lesl and devglopmgnl equipm¢nl. CEME also operate5 an InnovAlion ￿ntre and a Launchpad Stall up cenlre on ihe carnpu5. providing hvJh Qua￿lY off￿e and v￿rkShoP space io BUPPOrt early slage gr0￿h siarf-up busine5sps. CEME &ms lo prO¥￿e Ihese customers wlh a one-slop shop IOF busing65 supwr16etYK9& army advice. all aimed £1 gcceleraling gr0￿h.

Centre for Englneering and Mat)ufacturlng Excèllènce Llmlted Report of th6 Trustees The La￿￿hpad Centre 1$ aimed 81 supportifig slart-ups and very e￿Y slw grtydh Org£nisaliL￿s. Thi$ offÉr Includes CTrWLvking. hot desk. fixed desk and sm811 otritt spaGes lo lel for ¢u$lomers. Our aim i¥ 10 r¢move barriers lo eficovrage more slail-ups lo eyploit oppcrfiunilies lo Ih rullesl exienl. The Launrkyad ¢u$tomer5 also benefit ffom a tslored bu5in8ss programme lo supwrt accelerattd gro￿th. CEME hA5 8 dedicated Evont $P8cè customer offeiing. ff(Hh slmple rooms for or mor¢ people, lo execulive bDard r¢oms and th8 (uluir6b¢ POD Ihealre v4here oiuanis8lions can host a wd& rènge of [neeli￿& ar￿ ÈvÈnis. The fiexibilily ol sp8¢e offering has been allradiye In past yeats and continues lo allracl Dew and e￿stIng clients as Ihtry c8n easily flex up and down in ierms ol Spa￿ on the ¢&mpus, using evenl spscfj AS on lap 3ddilv)n?l $pace lo office Bccomfflodaiion The event spacg offgr i¥ carèlully'woven inlo. Ihty CEME offer- bringing loral bu￿neSS owners ¢nlo the campus and in Ihe pro¢e$s hdring raise Iheir ovm asplr£lk)ns for busin6s$ 01￿￿h. Lau￿hptyd Cntrè Also offers a lang ol iailoied pioduGIs ar￿ seNices lo a v￿e range of public 8nd private dienls. Our mix of privale and publi¢ sedor activilies sorv6S to creaie Bn oulslandifig ofl8r for ihe kneal c￿￿MIlnI1Y CEME ￿rkS wlh local edu¢8tion inslilulions. s¢hools. Further Education in Colleoes and Univefsiligs in a v¥riely olways al aimed al improvin9 ihe opporlLpnilieS and aspirations ol the local cofflmunilies CEME seNes The GalwNay lo Skills programme ￿711 relurntd lo the benefil of local $thoolchildren from Apiil 2022 allei an 8bsence of Iwo years dup la thè pandemic CEME established Elu1￿. 8 Universily T8chnical College IUT¢I in partnership ￿1th Unlveisily College LoTrdon IUCLI and Fold in 2014 and we welconie sludenis onlo the comws tor Work 8xperiencÈ and placemenls gvtsry year In addilion 10 ltte 100 plus busiTres595 Qpèralino on Ihe cafflpus a mix of ￿5￿esS del￿01¢$ regul8rly allend training and seminars in the E¥Bnl Spacg as patiolour Bu4ness Gioylh Acadeffly. AchlFvèmènls and Performance Aim l.. Prtsvldè èducallon. tralnlng and N-tralnlng opportunitie¥ and work experlence Educhllon The London School of Acadefflics ILSAI. an award-winninp of teacher training eth¢aiion th81 conlinues to Ilourlsh al CEME. LSA gr￿￿h plans havg now dfjveloped such Ihal plans undeiway lo acquiie a Vniverly slalu5. LSA is ￿NICularly aclive In providing 1¢gchlng careerlraining lèading lo high quality empbymeiil opportunilies lor couraè Partiupanls, many015th￿kn Come lo ihe progFamrnB3 urtemployed. In 2023 Ihe Evenl spa￿ al CEME welcomed around 5,ODO de1egatas purely for the PLKPtsÈÈ ol educalion and IraKiiny ¥¢ross 800 tear￿r days. In 2023 CEME woiked closèly￿￿Ih 8atkiTrg ar￿ Oayenham college and Ihe Smallpeice Trust The event space K4 an ￿tra-mOde[n evenls and meeungs venue off￿1Th9 innovative Bnd flexible solull￿¥ formeelings requiTemenls from 8 high- leth wnference audiionum. IhB CEME POD theatre lo sTnall me61ingllrainin9 rooms, Confer¥￿è. exhibilK>n and ouldopr apace. A dovmlurn In roorn hire foF ttipelinos folloYAng the Pandfjmi¢has ￿5￿lled in CEME ¢onvértlw mgny of these loom$ as Dir￿e5 for renia1. Apprntlcèshlps CEME is home lo Ihe Ford Molor Company engineeiing appyenlice prooranme IFAP}. Ythith 8njDyed anolherv8ry SUCC8S5ful year Te¢hnlcal Training Duijng ihe year CEME hosid a w4dè rswe of leChn￿al Irainiw in ils y￿rkshopS piacli¢¥l d8ssroom5 including Iniegc8led Manulacluiing Skills, rnulliskilling l$lecirical for MeChan￿al and mechanical for eleclrirall. eleclronic5 m￿ule8, Uing. programma￿e lo9￿ ¢tylrol programming and lesling £nd enging#ring hèalth And salely. Alrn 2.. Hèlp unfrmployed peoplB Ilnd èmploymeiil CEME coniinueg lo host assessmenl ¢¥nirès for the ieGruilmenl DI ¥ variely ol ernp1oymenl oppodunilies incjudiw appienb¢es. enlry ￿Ve1 lechntal a￿1 safely ifaininylcertificallon for sLrlor$ $u¢h as Ihe construGlii￿ and rail. n8￿Y qualified le￿her$. mcdi¢g1 glall and fi host of other employment a¢iivili8$. AIID 3.. Provlde support to bu8ines5trs where It leads to liainlng and employment QPPDriunhtlos for unemployed poopl•. The CEME Innovolvn Centre prOV￿eS office and ¥￿rkshOp SP￿ and rtl8ièd sÈrviee5 to SMES on Ibxible ierms Ihal enable Ihern 10 lake up a(tommodalion wilhoul Ihe rK8k of prohibilive18as8 payments Shou￿ ihey Suffera linantyal do￿l￿r￿. In addl1￿rt. a ¥Mde raii9e of bJsines¥ SUP￿ seTvires i¥ prowded lo support a¢leraled orovAh. Dufing 2023 the CEME Imovaiion Cenlre piovided offt• Space and bu51Th9S5 6UPWrf fty Over 40 small busin&sses The InnovBIK>n Cenlr8 ha$ had an averoge otCUP8ncyol over 90Vo during Ye￿ In ke9ping ￿lIh Pia￿0￿$ years. several Ignanis expAnded dwing Iheyear. efteclively ovlyiowng Ihe Innovation C¥lre. Launchpad building i¥ geared lowards ffedgling businèsses and offer from Vir1￿31 oftice lo hol deskin9 10 srnall offices based on Ihe reqLJifeTnenls ollhe busin8SS.

Centre for Engineering and Manufacturlng Excellence LSmlted Report of the Trust888 Alm 4.. Provlde larKI and bvildlng8 on f8vourAblo l•rms to t￿SIn•S5o$ In or4ler to create tralnlng and èmploymont opportunitlès for unemployed people The CEME Innovaiion Centre provides a Valuab￿ resouice lo I￿al businesses eTrli8prtn#ur$. Thè c&nirè providè5 hlgh qualily ommodalion and setvices on a simpb'lh8 pft¢e you AÈe Is Ihe pnce you pay, model offeiing lo slart-up busingss&5 an affordab￿ and lowrisk aGromm¢d8lion $olulk)n This alligciN8 offering Isevidenlly tn8&ling a need ¥nd thllinud 10 enpy Occu￿nCY levels excess of 90% over Ihe year We ￿71[ bring aoklilK)nal stn8118runils online in 20241¢ meel A growng cusior(r demand. For ￿SInS8¥s. 8rè lots small ￿ amord an office a business cenlie. CEME off8[¥ 3'virfu81 ienanty,. Thi$ seM¢eenabtes a business lo hgve 8 fionl desk service5 al Ihe lTrnovalv)n Cenire $nd usè ils meetin9 rooms. lThnoVal￿n Cenire suwris rnany kKal Tnicio-businesSPS fyih this sewic£ ihtwghoul Ihg yèw CEME is hos1 lo over40 Yirtual business95. LOOKING AHEAD ot CEME Duriw 2023 CEME devek>Fd a new strat￿Y forgrowth. The undeipinnino pillars of the s1181egy meant lo grow responsibly. vAlh a fo¢vs on aclivili85 Ihal dpliver4 posilive Impact 8nd sus1aln3b￿ perfomiance wlhoul comprotllising being Bnwrtymenlal exempl£r This is hv E opèraie the campus and Ilie buildings ￿lIefi lorffling IhE nEw￿rIn¢[shIpS In 2024 ￿orki110 ￿1h pailners we ￿111 continue lo niakn funding b￿5 lo d@velop a hydrogen liviny labon C8mpus ￿7 partnership wilh ihe UCL and MTC. Thfj Dewly erneroing Th?mp5 Fieeport 1$ 8 onderful otv)riuniiy lor CEME lo deliver a 5UGce56 ID the MiderThames Egtuary In colLgbDf21ion with partners In April 2024 our Gale¥vdy lo Skills prograTnmfjwll re¥um¢ see 8nolher 1,000 eArly secondary 51udenls GOtIlg lo CEME lo18arn about STEM Iscience, Technobgy, Enyineeiing, m8lhemalic518nd lo encoviag& Ihpse sludenls lo (￿Sider c¥reBr$ sbilhin Ihesè Subjects. AI CEME w¥work in partnèrship Kith re9ion£l AtKJ IoGal goverllmenl, local Dalion31 Dr inlpinalianal empbyeis and priv£le devek>pers io understarKI Ihe local economic lanoscape alld regenèfalion Sim¥ and iièÈds Using Ilie ￿n￿en11a1 capital of conimerce, the soci?1 capilal ol b¢al governfflenl ?nd Ihe physiral capital ol supportive places awn Is lo pull lofvllier parin£rship$ iod¥livor¥mbiliOUS piojècls lo meel lh& sp¢tyli¢ $m￿tIonS 018 communiiy. STRUCTURE, GOVERNANCE AND MANAGEMENT The fin¥n¢i¥l $18len)enls C1)m￿Y wilh currenl slalulory requirements. th$ Mmor8ndum and ol Associdlion and the Charit￿5 SORP FRS102. C$nir¢ f¢r EnglrEerlng and M8nufaclurin9 ExcellenTr Limiled Ilrading as CEME'I is ¢on$liluled as a company limiled by guarantee {rewslralion nUrn￿r 042388621 and 15 govern9d by ils Mgmttr8ndum snd Article5 01 Associalion CEME was registered as a chaiily Iregi$iralion number fj1333961 in Decembor2009. CEME Enlerprise Limited 8 18gislered o)¥npany nUrn￿r 7115923 I￿OrpOrated on 5 January 2010 a Mtholly ￿ed subs￿1¥ry ol CEME ha$ sloped IradMg on 31 December 2023 a5 our commer¢l•l Events buslness has been wound down. The charily had no lundraiwng aGtivilies {equ￿￿￿o disclosure under S162Aol Ihe ChariliesAcl 2011.

Centre for Englneering and Manufacturlng Ex¢èllènco Llmlted Report ol thè Trust888 BoJr¢l of Trusttts The 8oard ol Tru51ees. vtho arfj ¥lso direclois of charity for the purpDSeB ol th8 CoTnpanies Act. have overall respon$ibilily for the directv)n, managem8ni 8nd conliol ol ihe charily. As dixvssed bek)w. some ol Ih&s& ocliwiies are delegaled lo SUb￿mMILlees of the Board. OvÈrall. operational rn8nagetnenl of CEME is delegated lo the Exerulivfr Olficers. Th¢ Board Is subject lo a ttBximum of 12 and a minimum 018 ¢Jireclors. Under Ihe arfirles ol assocKqlion. the composition of the b03rd is es fo11ows.' Three diieclors appoioied by members ol CEME". One represBnialive direclor nominaled by Fold Moior Company One re￿SenIalive direclor Dpminaied by HaveTing Colege of Further and HvJherEduc¥iion 8nd Barking and Dagenh¥m ColÈgè IBDC) o Onè rerKeseni8live direclor Dominaied by the London BDrough ol ￿ver1 Addilionaj directors apwinied by Ihe ts>ard, Miih specifie axpertise One seTh￿r indeper￿ent noft.&xeeulive Director lo providg business and commerc4al expprfise Additional non-ex¢¢ulive direclors as required io proV￿e expert advice on Subject areas ol re￿Van[e lo CEME such as s￿11& ethralion. business development. regenBiaiion Ini1181wes, and manufa¢tUiirtg, engineeiing and lechwbgy to the 8o£rd One Mn-execliiive direclorl¢ aci as Ch8imi8n Tw) exewlive direciors. be￿g Ihe Chief Exetulive oificerand Ch￿f Fln8nclA1 0[fi￿r The directors appoinled by members are seniDrexEr.Lrtives in those oroHnis3lions Ford IS repiesenled by a seniofoxècuiive ol Ford Brii$ln. Thè college$ by thè Cdleye PINicipa1 & CEO and Ihe London Boiowh ol Havering by ils Direclorol Npighbourhwds. A direGtormay hold Ih81 ofllts for an iThilHI ol ihr8e yeais. Ihis ￿ renewable on a muiually agTeed basis. TYP￿811y, the board ffleeis lour lo six times per yeai. dire¢iois are inducled Ihrowh a formal Induction proGe6s, ineludes compiehensive br￿firb￿ ￿lIh the Ch￿[ Execulr¢e Owicer and 8 sile v1511 in addilion 10 a nLmber of other inilialiv•g and in wrson ar￿ ￿-11￿ Thg Trusleps review ai)d nionilor Iho financial peilormance ol Ihe Charity. foreseeable 5vJnifi￿nI eVEnis and risks are arbalys8d and Iheir POS51ble finan￿al imp9¢1 Invesligaled ￿1th coireclwe a¢bon taken as necessary. Through￿1 Ihe year, the Tm$i$$s conbnued lo tnoniiof lh& •ffèctlveness oveial terms ol refe￿n￿ for Ihe sub commiiiee$. lo ensure they are lolkming ￿51 pia¢li¢e In Ihe 5eGlor. The Board appoinls membfjrs of Ihe Audit Commillee. Nominaliong Cornmilta& the R•MUn￿a￿on Commille8. Tho Audll Commillee, ¥th￿h usually meets three limes a year and Ihe Remuner8lion Commille8 are m$de up ol Tiuslees wilh r6lÈvanl ski115 and ew¢ri6n¢e Th& Remuneration Committee supp)rfs Ihe Board in ie¥ryewng selliny Ihe remuTreralK)n ol th8 exsculive direclois. The refflun¥ration piocedure Is dischai9ed by Ihg ¢hair. The NoMvwl￿n Commiiiee review5 candrdal&s for ihe spp¢¥nlmenl lo the Board mokiny ￿e0MMenda110n 10 lh$ rd on Ihe 8ppoinlfflgnis. CEME's appro8ch 1¢ remunera￿On is deson#d w ansure w& alifacl and r6ialn Ihd 18lenled and ffloliwaled pe¢￿e we need lo aGhieve our Vi$h)n and deliver our slralegic goab.11 1$ applied cons￿lent￿ across thè oigan15at￿￿. We aiwn ID p¥y fair and cornpeliiivety in Ihg not for piofil seclor Ihin ihe Conle￿ of aftordaknlily 8nd cons￿8[1￿9 the ¢omp￿xI1Y of each rde. CEME Ilnks p8y lo pert￿Man¢& And provides salary progEession foi IhDSE deliver excepti<￿al pErfotmance. The level ol ￿MUneral1¢n 13 benchmarkgd lo organisaih)ns in the area of 6imiLqr È12È iype and Comp￿xity. ExIer￿￿ independenl consultants carry otrt. on a regular basis. the b8n¢hm8rkiw. Th8 Chi81 Ekeculhvè and the board ¥s ppropriait Ihen agree Ihe remuneration. The TrLk%iees are 8ware of IFhg Chariiy Governance Code pubhshed In 2017. which Bels out ihe Principles and recom[ner￿￿￿ praciice for good governance ￿}lh1n the wi(* The TTuslees regularfy dis¢uss besl practic8 al CEME Bo3rd Meetings and are saiisfied ih81 Ihe Charily applies Ihe princI￿eS of the cOdev￿1hIrn ils turrenl Governance arrangements A board S￿l-eValUa11orn ekercise 19 Carried oul annvally Thè Ch8ir tsrflg5 out an appiaisal wrylh Èath liusiee annually and the Senior IndependeTrl Diredor wll cBriy out a review of the chairs perfomiance segking reedb¥k from each Trustee.

Cgntre for Engineering and Manufacturlng Exc8llence Limited Report of the Trustees R18t￿ Prti8s CEMÈ op8r81es a whdty owned $ubdi¥ry CEME Enlerprise Limiled, Ihig is a comme￿81 O￿a￿SaIlo￿ that conducts the Conlerence Centre sKiess and hence IS a r¢l3lfd party lo the chaiily ICEME Lidl Thls cornp8ny mad9 doimanl on 31, De￿Mtser 2023 due to a decline In the commerclal events bJsinÈss followiTrgCovid. CEME 18 under the common conliol ol Ford Company, London eorough ol Havering, Haveriro Coll89& of Furthtr Edu¢aiv)n. Bal￿ng and DBgenh8m College. The whpanies ArtKlp ol AsSOGialion as amended in Ociobèr 2019 Stale Ihal each ol the above Is a membèr ol CEME. As a ffleMl￿ of CEME Ihey ￿ve Ihe righl lo sppoini a difeclor io CEME board %thich ar8 noièd In th& ¥¢lioTr above. The Greater London Assembly rents to CEME Ihe l?lld on CEME Cen1￿ of Excellèrteè is $ii$d on a 125-yeai lea59 Al a pepp&rcom rent. 1181so l•ase8 tho InnovalK)n Ceniie on a 125-year legsè ai a pèpp¥r¢oih r•ni. The ultimate freeholder Is Ihe Ford Moior Company. FINANCIAL REVIEW Tradiny Pèrfortnance CEME'S p(incipal income derived from f¢e$ tharg9d lo users ol the facilily. CEME prOv￿•S * fully prOvi￿oned leathing enwronmenl for providerg ol educslron and skills and 13ilored oftice s￿ce and Support s6rv￿¢S 10 busin£s5e5. This income ts augmented by revenues from a Irading subsidiary Ihal runs a conferertè cèrtirs ai CEME. These ievenues sre disclow as -l•¢ome' on Ihe Consolidal8d Slalemenl of CEME operalos a num￿[ ol building5 on ils park, main building Ih31 aGcomrnodale5 Ihe providers for skills and ¢duc8lv)D office space as well 8S Ihe conlerentr ¢pnire. Olher buildings include a wholly devoled Innovation cenlie. CEME'5 revenue for Ihe yegr was £4,373.4 8fwJ adjusted Ios5 is £514.485 Ilhe knss Incli￿P% ? depreci8lKTrn thaige of E878.6721. Pnor year revtnutr was £4.1￿,655 and adiusled 1055 of E509.244 Ilhe ID3s Incl￿￿3 a depreGialion charoeo1£904,8481 As mgllliorbgd above, the evenl spgce buslnèss 1$ run Ihrough a￿¥)1Y owned trading subsldiary n8m¢d CEME EnleTpTise Ltd. Revenues for the year was El69,449 Wilh s prolil 01 £290.951, lnlercompany amouni w￿liÉn oll E4ZI,889 as CEME EnlerpTise Ltd is not able io pay th$ (yjlslandiw debl.. Pilot yeai revenue £303,293 wlh a1058 of £73.857. The acLommodabon ¢o$l¥ for th8 ￿le[e￿8 centre ale ￿ line ￿1th rates Paid tyy major clients in other parts ol Ihg building Reserves Policy Totsl fund$ held 8131 DeEetTrb8r2023 amounted lo £21,782.076 rnAde ouiol £13.623.669 reslricled funds and £8.158.407 unrèstithd fund. Unresiricied Inwme Funds ol £8,158,407con5isI of lenani's intoma lèg$ op6raiing rulls incuired to dal& RÈsiii&d Income Funds ￿￿SiSt o19ranis received for relin￿8￿ pvrposes Ilull list of Ihe grgnls is Conta￿ed In note 21 of Ihp accounts) and atnounled lo £13.623.869 ai 31 DeCe[￿be[ 2023. Capital grants are used lo tund buildiw works and th8 awuisilion ol new leachino equipment. Thé Trtssie8$ have revi*d Ih9ir reserve5 policy during course of th& year and Sel the rthseives policy th81 require$. Reserve5 lo be main18ined Al a revel, tn¥urp8 Ihal the organi5alion's 8¢liiily could ¢onlinue duiifig a peTvJd ol Iwo monlhs foN(IWing a limwhen rev8nue fals lo zero. Mainlain a proportion ofreserves In a rè8dily rgalis8ble foTrn. The calcul£l￿n ol Ihe iequir¢d18vel ol res8prns is an integral part ol ihe or9ani%$lion'$ p￿rnIng. budgel and forerasl cyc

Centrè for Enyineering and Manufacturing Excellence Llmlted Report of the Trustees The Truslees beli¢vt il 1$ necessary lo hou resen￿5 01 Iwo months, unreslriGled expendiiure equating 10 £61gK al 31 D¢c 2023. The Twusiees regU￿r]Y mDniior the cash posilion and ￿sOUrceS availawe io CEME lo achievè Ils Operati￿¥1 goAls and ar9 Sallafiad Ihal cur10ni cash flows aDd Ihe agreed overdraft facility Is sufticieii 10 provk%e adequale working capital. At Ihtr b81ance sheet dale. the group h8ld unresliicled fur￿8 iot81ino £6.158,407 Wilh nel currenl libililies of £194.351 12022. £307.4201, Ihe tash componeDI 13 £1,390.770. Free reser￿$ are c¥1culated a5 uDreslri¢ied funds less l?ngible fLKed 858els and k)ans io procure fix¢d sssels and leaanl's depo￿15. Al 88lance Sheet daltr, CEME had fr88 reseN85 01 £764k. CEME has prep¥ed 3 12months forÈc8sl With detailed operaiin9 plans indudino ¢ashflows and kl salisfied thalMryVI Ihe cash reserve$ end Ils bank overd￿ft facility that il has appropriale reservo$. Going Concprn CEME h?s dèlivered a sifong finart￿l perfotmants and h8s enjoyed an Éne￿ra9lng siart 10 2024 with record ltrvel$ of lenanlocpJp8ncy on the LZTllPLB. The Evenl space, which has undergorb8 a re3iruelure In 2023 remains a major part of Iheolfewiw al CEME. Under Ihe conird of Ihe 8usine$s tkvek)pmenl Oireciof iliere is an enwur8giny posill￿ start lo 2024. Cash posilion remains Stro￿ and Is lorecasl Ihrouyhoul 2024. Al Ihe time ol m8klng Ihis Assessmenl occupancy across the c2mpus is slrong and Ihe evidence ol Ihe18sI IwetV8 mffilhs have sugg¢$i8d Ihal CEME is idealty p￿Ced for cu$itsmers seeking high 4￿all1Y busine55 Spate In Ihe INcinily ol Easl London. accp3sible by CA T and offering 8 secuig $nd safe environmeni. The 8nlKipaled o¢¢up8ncy in 2024 prO￿deS a reasonab￿ assur￿￿ of slable perloimRfice afid steady cashllows to eelworking ¢apilal iieedsand deblon a ithety basi5. C$gh sx)silion al the ond of April 2024 was El.512k . The ¢a$h Includes tY2Sk 10 purchAse Ihe L8unchpad GLA during 2024. Our Iinmediale pl4nninu process. Indudino financial proieGlions. has iaken Into Lunsideratioii Ihg cuiieiil economK Glim8le anil ￿￿ertaInty its wl&niial Impaci on Ihe vaiious levels ol iDcome and p￿n￿d eypendiiure. CEME has a c8¥h balances al th8 y$ar-end of El.391k12022 £1.583kl aDd il has an overdraft f?cility of £400K ihal has been in Fla¢e slnce May 201S and whKh has ￿ever been utilised du8 10 11$ slrong cash po$ilion 8nd coniinued demand ol Ils a(Kommod81ion rfjlaied se￿￿e5. Mana9emenl be11Ève Ih81 CEME h38 $deyuale financkBI reS￿r￿S and arew611 pLgcèd lo tnafiage Ihèsd svJnrfKanl bu$iness riskB. Thedirèciors. having considerèd cash flows. inrome SIre￿nS and op8r¥b"ons bdieve ihal CEME has adequate rasource5 to coniinue in operalional exisiÈnte the foresepablè I￿lUre. Th? aG￿niS have Iherefore been wepared on Ihe basis Ihal Ihe charity is 8 ooing conGem. RLsk Management and Int¥tnal Control Thè Trustees have over811 responsibility for ensuling Ihal Iho organis81￿n op8raie$ Sn appropriale Sys￿￿ of controls, financ181 and oth&w￿tr. lo managF lh& slralegic and oppiaiionBI iisks Ihe Ch¥rity is, and could be. exposed lo. Pro¢6sses in plac8 regardiw risk tnan3yemenl and in10r￿1 ton1r0￿ include Ihè folbwno The Audit Commillee ￿ responslue lor rnoniloriw Ihe eftectiveness ol Ihe iniemal conirds 8nd reports lo the Boaid Ihe re¥u11$ 01 such monilorino This 15 acbi8ved through. CEME'5 Sysi￿n$ ol financial eonlrol. risk manayemenl and compli¥nee o Ilbe nalLJie arhd stope ollhe extteiDbl budil. and any mallers raised. for th& aii¢nllon ol Management. o the need lor Ilie inlernal audil, any clianges lo audil p18ns lo lake a¢wunl of emerging risks 8nd new areas ol busin255 as appropiiqie The systemB of ¢onirDI operaied vnlhin CEME are lo provide reasoDable, bul nol ab¥dul$ assurAnce ay&knsl material ml$stAlernenl or bss. They indudg". o Five-year pl and cash l(*e¢asl Annual business plan. budget 8nd cash liowforecast o RegU￿r consideiaiion by the Tiv¥iee$ ol actual result$ ¢ompAredV￿lh ￿dget$. forecas15 Irtr￿. Cash llowand [ese￿e5 Ipvels 13

Centre for Englnè8rlng and Manufacturlng Excllenc& Limited Report of the Tru5t8es 0 $6yregalion ol duli#8 o Id&nlifi¢¥lv)n ol. and man¥gemeTrlol, Tisks o Regular reviewolfinancigl procedures. Thq Tluslees, in parfnership wlh the Execulive Commillee IEXCOI, p&y a key role in the Ident￿¢41￿)n, ev81ualron and M￿lI￿￿ng ol majcr risks lo thich CEME is exposed. CEME h88 iobusl risk m3n$gefflenl moniloring pmces$&s In place to 8s$1$1 in th8 slralegic and oper$lothl m¥￿￿EMent ol th& org3nisalion. The risks ale monitored Ihiough s rlsk rtgisler Ihal is upd81ed 8nd reviewed on È regular basis. The risk regi51er knDks al risk5 snd assèsses lh& Impact on CEME based on th& following crilena financial. sliale9i¢, lepulati￿al and operational. 11 aL%o Identifies deleelM>n mèihods. prwenlalive and re￿veryConIIQ1S. CEME recwnise$ th8 value and impor18nce ol effeclive ii$k tnanagemenl. CEME pract￿e5 s culluie of risk m£nagèm$ni IF￿1 permea1￿ ¥N levels and operation81 lunclioDs of the Org?nisab'o￿. To Bupport this, addilional componenis of the riskrn£n$gem£nl fraMe¥￿Ik In¢lud8.- Thtr r¢quiTemenl lor all staff and m8n8gers lo prepare ¢¢mpTrhensNe prole¢l rtrlaled risk a$￿¥m￿nI 8nd rngnayemtnl do¢L¥nfjnlalion for all new ulili$l￿￿S, %thiGh mandales an assessmgnl of risk Newdeveiopmenl opporiunib6S rsqulrlng invesknenl ol the organisats￿¥ resources including capilal inveslmenl undergo a fea5ibilily ana￿51$, Indu￿￿g aS￿Ssment of Iisk. CEME'S TrugiÈÈs h$vg established a largel for IBvels of reserves ￿]d. lo mili981e Imparl on the organls&liofj of Ihp ri5kB ihal domalgrigU. CEME 13 comrnilled lo 11$ risk managernenl piocesses, and SenK>r MansgÈrs and TTU5teeB 8Te conb'ouing lo develop 8nd refine risk manaoemenl and coTrlrd pr￿esSeS. whieli are bdh, appiopiiale lo ihe organisalii)n and whose 9hect Can be measured. The tablè bplow piovides key risks and lh￿ oclion5 Ihal are undertaken lo manage th& Ilsks. CkbAE also m81nlains ¥ fvll risk regisler Ih81 ideniifies Ihe risks, deteclion toniro15. pievenlion controL% and rÈ¢ovsry ¢onlrds. Thls 1$ formally reviewed on a regular basi5. R15k anagemèot Economlc pressures, Competltlon and Major Annval budÉetingongoing m3n3Eement pertufmance. Revlewof ￿XIStIng plpellne plus marl(etingas deemed necessary. The on8olng evaluatlon of longér-term strategy th3itèrge5 the dlversificatiun of income from new addltlonil clients 'InodentSthat may Impa¢tld&tnage reputation or negatlve Imp3Ctoperation5 Includlng cyber 'seturity. fraLJd and major Incldents Proactive detectlon, rnonitoring Investlgatlng 3nd reportin£ of adverse incidents or Èveht5. Use of rlgk register Isemployed. Continued programme to drive IT Improvements and strengthen Infrastructure nd protectlon of data. Econoynic Downturn due to the national aiid Moiiitor tlie econornic indicators In the rental market3nd compBring to competitors. CEMEStrate8y and 3ttivitie5 not fullyfocusÈd Ito meet Ch8rityCommis5ion RR2 criteria. Monltorand record public benefit3cfivitles and keep the level of regeneration aciivltiÈS above ¥Dy required level.

Centre for Engineering and Manufacturing Excellence Llmlted Statement of trustees, responslbllltles The Trustees (who ar8 al80 directors of the Centre for Engineering and M3nufacturing ExcellenTr for the purposes ol company lawl sre responsible for preparing the Trustees. Annual Report and the finan¢ial statemen18 in accordan￿ wilh applicable law United Kingdom Generally At￿pted AcEounting Practice (United Kingdom Accounting Slandard51. Company law requires the TrusteÈ8 to prepare financial statements for ea¢h financial year. Under company law the Truslees musl not approve the finanGial stateffpnls unlÈ8s Ihey are ￿tisf￿d that they glve a tru8 and lair view of Ihe stale of afrai15 of the charitable company and the group and of the incoming resources and applicatk)n of resour¢es, Including the income and expenditure, of the chaiilable company and group for Ih81 period. In preparing thes& rinanrial ststemenls, the Tru5tee$ are required to.. selecl suitable accounting poI￿leS and then apply them consislenlly,. observe 11)e melliod5 and piinciples in the ¢h8rilitss SORP IFRS1021'. fwkejiidgn7eii15 and eslimatp.s thMI *re reagon8hle priident., slrile whether applicable UK accounting -l£?nd8rds have been followed, siibjecl lo any material dei)artures disclosed and explained in Ihe financial stalemenls-. prepare the financial 8t8temttnls on th8 going con￿rn basis uTrles5 1118 inappropriala to presume Ihat the charilsb company will continue In busin8SS. The Tiuslees are responsible for keeplng adeqLial8 SCCOLinling record5 that ale suflicienl to show and explain Ihe tharilablÈ company's transactions, disclose with reasonable accuracy al any lime the finanGial position of Ihe charilable company and enable thern to ensure that the finanual stalemenl$ comply with the Companies Act 2008 and the provisions of the charity's ¢onslilulK)n. They are also ie8ponsible lor safeguaidiTro the asse18 of the charity and th8 group and hence for taking reasonable steps for the prev8nlion and detection of fraud and othèr irregularities. Disclosure of Infoirnation to Auditors Insofar as each of the Iruslees of Ihe charilable coinpany al the date of approval ol this report is 8W8re there Is no relevant audit inforrnalion Ilnformalion need8d by the charity's auditor in connection with prèparing the audit report) of which the rharilrfs aiiditor Is Linaware. Eath trii8lèe h8S t8kpn all of Ihe sleps th?t helshe should have taken as 8 Injstee in order lo make hin881f/h8rs8lf aware of any relevant audit infoimalion and to establish that the chaiily's auditor is aware of that informalion. Siqned on behaw of the Board Vdekie Eueh Le lfvee Dwek Valerie Le Vaillanl Trustee Dale 18.06.2024 14

Centre for Enginèèring and Manufacturing Excellence Limited Independgnt Audltors, Report Oplrblon We have audiled the financial slalements of the Centre lor Englneerlng and Manufaduring Excellen￿ for the year ended 31 De￿mber 2023 whiGh comprise the Consolidated Slaleinenl of Financial Aclivilies. Iht Group and Charity Balan￿ Sheets, Ihe Consolidaled Slalemenl of Casli Flows and notes lo Ihe finantyal slslemenls. includin9 a summary ol significanl 2ccounliiig policles The ￿nan￿81 reporting (ral￿e￿Ork th81 has been apPl￿d Sn Iheir prtparaiion is applicable law and Unlied KlTrgdom ACC￿￿11n9 Standards, including Financial Reporiing Slandard 102 The Flnsncial Reporting Slandard appliGable In Ihe UK Republic of 118land IUn118d Kingdom Gener8llyAccepled Acts)unling Pr8cllc&l. Opinlon on financlal 518lements In our opinion the finan￿al slalemenls.. give a Iiue 8nd falr view ol Ihe stale of ihe oroup's and the Gharilab1e cornpany's affairs 85 8131 ￿e￿Inber 2023 and of th8 oroup's incoming resources and spplicalion of resDufGes. includiry ils incorne and expenditure. forlhe year Ihen ended, have been properly prep8red In 8¢cordan¢e with Uniled Kingdom GenerallyAccepled Accounling Pra¢li¢e', and . hxvp bp.en prppared in acr,orrtance with Ihe rp.qiiirp.mpnl% ollhe. rrtmpanlpq Ad 2006. Bas1$ lo¥ oplnlon We conducied our audil in accordance wlh Inlernalional SI3￿13rds Dn Audiling (UK) IISAS IUKII and applicable law. Our responsibililEs LJndÈr Ihose 51aTrdaids are further desciibed In the Auditor's responsibililies for Ihc audil of the financial slalemenls section of our reporf We are independent ol Ihe gioup In accordan¢e vllh lh& eihlcal requiiemeTris Ihal are relevant lo our audil ol Ihe finsncial slalemenls in the UK. indLrding Ihe FRC'S Elhical Standard. we have fulfilled our other elhic41 responsibililres In accordsnce wilh these req11￿emeni$. We heli8ve Ihal the aiidil e¥￿en￿ we have oblained is suificienl and 8PPiOPri816 lo provide a basis for Dur opinion. Conclusion& relating to going concern In iidilino the financial slalefflenls, we have conduded that ￿e ITusiee's use of lh8 concern basis of accounting in Ihe preparabon Based on the work we have performed. we have not Idanllfted any maitrial Un￿rtaInlieS relating lo events or condllions Ihal. IndI￿dUallY or colleclively, may cast 81gnificani dolibl on the charitable company's or the group's ability lo conlinue 88 a going con¢Èrn for a period of al leasl iwelve monihs fiom when Ihe finan￿al slalernenls are avthorised lor issue. Our r•sponsibililEs and th£ responsibilities of Ihe ITuslees with respecl to golng con¢8rn are dfrscribed in Ihe re￿¥￿nI SÈCbons of Ihis ieport. Other informallon The truslees ale responsibk lor Ihe other Infoimalion contained wilhin Ihe annual reporf The olher Mlormallon comprlses the Informallon included In annual report. Olhèr than the financial slaleinenls and our 3udilorfs reporl Ihereon. Our opinion on Ihe financi81 Stslemen does noi covèr IhÈ DlhÈr inforThalion and, ex￿p1 lo the eenl othe￿ise expli¢illy slated In our ￿Ptsrt. W8 do nol express any form of assuiance conclusion ihÈreon. In connection wilh our audit of ihe financial sialemenls. our resp0115ibillly is to read Ihe other informabon and, in doing so. consi(Jer wheiher the olher informalion is materially in¢onsislenl vllh Ihe finan(481 slalements or our knowledge obtained In Ihe 8uOil or olhewtse appears lo be materially misslaleo. If we idenllfy such malerlal inconsis18ncles or apparent Tnalerial misslalemenls. we 8re required lo determine whelher iaere is 8 maleri81 missl8leff*nl in the f￿anCIal slalements or a rnalerial misslalemenl ol Ihe olher informalion. If. based on the work we hsve perforffled, we Gonclude ihal Ihere is a material mlssl8lemenl ol IhSs olhei inlormallon, we arè required 10 report th81 fact. Wè have nothing lo report in Ihi5 regard. 15

Centre for Engirtèerlng and ManufacturÉng Excellence Limlt¥d Ind&pondent Auditors, Report Oplnlons on other mattr¥ pr8scrSbed by the Cornpanl&8 Act 2006 In ouropinion based on the work urbd8rtaken in the course of our2udil The Information given in Ihe report ol the Iruslees (which includes Ihe diredors, report prepared for the purposes ol compgny lawl forlh8 financS&l year forwhiGh the f1Thand￿ slalemenis are prèpared Is eonslsienlwilh Ihe finanaal slalemen15,' and th8 dlrectors, report induded wllhln Ihe truslees. report have been piepared n artord8nu vllh applicable18gal 18qulremenis. Maltors on whlch we are roqulred to report byexceplion In Ihe light ol Ihe knovAedge and undersianding of Ihe charitable company and ils environfflenl obtaSned i) the coursè of the audit. we have not idÉniified m81erial Miss￿￿MentS In Ihe reporf of the I[Us￿e$ (which in¢orpoTales the slra16ol¢ report and the ￿1￿clor8. reporti- We hav8 nolhlng lo report in respect of Ihe lolli)wing mallers in re￿Il¢n lo which the Cornpans Acl 2006 requires us lo report lo you rf, In our opinion-. adequate and proper accounting records have not b8en kepl.. or Ihe financial sialemeiils are llol iii agfftemenlwlh Ihe 3ccounling records and relutnB', or certain dis¢losLJres of I[￿sleeS, remuneralioii specified by law are not IHade. or wp. have not ￿CeIv&d 811 Ihe Inlomialion £xplanaiion5 we require lor ow audll.. or small companles. exempl￿￿$ In prepailngtk Iru51ee5' report and IIDM the requirement to p¢epa￿ a strategic reptsrt. Responslbllllle$ o¥truste05 ¢hari12ble company for Ihe purposes ol company lawl ale responsible for preparalion of Ihe financial slalemenls for beiny sallslied Ihal Ih&y give a true and fair view. and lor such inleinsl conlrol as Ihe Ituslees delermine is ne￿&Sary io enaile the pr£paralion of financial s181emenls Ihal are free from malerial mi5siaiÈmÈni, whelherdue lo fraud or errnr. In P￿paring Ihe fin8ncial slalements. the Iru51ees ar& ré8ponslble for assessing Ih• rl)arflable company's abllily lo conlinue a5 a gthrKJ Coll￿r￿, disdoslng, as 8pplicable. maller& related lo going c￿Cern and usiiig Ihe golng ¢ontrn bas15 01 accounllNJ ￿nIes$ the ITuslpes eliher intènd 10 Ilquldale the chariiable company or lo ce8se operalions, or have no realislic allernalive bul lo do so. AudSlor's responsibllillo¥ lor Ihe audll olthg flnantlaS $ta¢om•iits Our obieclive5 a￿ 10 obiaSn reasonab￿ assurance aboulwhelher the financial slalemenls 8s a wliole are free (rom mgleiial mi$8talemeDI. whelher due lo fraud or error. and lo i8suÈ an audllor's reporf Ihal includes our opinion. Reasonable assurance a high level ol assurance. bul is not a guarantee that an 8udil conductéd In 8ccordantr with ISAS IUKI wlll always delecl a Ihalerl81 misslalemenl when il exists. Missl8lemenls can arise from fraud or error and are CDnsldered malerial il. individu8lly or in the aggregate, thay could reasonably be expecled lo In￿UenCe Ihe eGonomlc d6usions of users taken on the b8sis of these finhncial slalemenls. Ifre9ularllies, includlng fraud, are Inslan￿$ of non-compl¥n￿ with law5 and regulalions. We deslgn procedures in lin& with our responsibililies, oullined above. lo delect tDaleiial misslaleinenl$ in respecl of liregulaiilies. includiny frsud. The extenl lo whth our proceduies are capable of delecling irregulaiilies. 1nduding tra￿ is delailtsd below.. Based on our understanding of the charlbble cotnpany 2nd Ihe envlronmenl in which il operales. we identified Ihe yincipal risks of non- compliance wilh laws arKS regulaiions 8nd we considered Ihe Èxienl lo whith non-compliance mlghl have a malerial trffecl on the financial s131emenls. We also GOn￿dered those kws alld regulalions Ihal have 8 Oiiecl impacl on the preparation of the finand81 $121emenis such 85 the CDmpanies Acl 2006 and Ihe Charities Acl 2011. and consldered olher faclors s￿h as GDPR. heallh and saf81y legisl3iion, lax leglslalion and am￿oymen1 legislation. 16

Centre for Engineering and Manufacturing Excellence Limited We evalualed manag8m8ni's inceniivÈs and opportunities for fr8udu18nl manlpul81ion of the financial slalemenls lincludlng Ihe rk%k of oveiride of conlrolsl, arKS deteFmined th81 the principal iisks were related lo managemenl override of controls and eompleleness and cul off income. Audit procedures perfomied by the engagemenl Itatn included-. Discv$5ion5 w11h manazernent Includlniconslderat1on of known orsuspetied Instances of non-cornp1lan￿Wilh lawsèrtd rèsulatlon fraud. Evaluatin8 maha8ement'5 (ontrolsde5igned lo pre￿nI and detett itfe4u1arit￿es. Identityin8 and testillg louTn¥ls. in partlcular journal entries P05tEd with unu5val account combSnallons, postings by unuwol vsEr5 or wdlh ChallÈn8ln8 aSSumption5?ndlud8ements made by management In thÈirtriti¢al aicountingestimates Because of the Inhar&nl1SnMlalions of an audit, there is a rl$k ihal we will not dtrtscl all itregularilie$. including those leading to a materlal rernoved from ihe events and tranS31t￿n5 rellecied the fin3ncl31 siatements, 3$ WÈ will bp less likely lo become aware of Instances of non- compliance. The risk is B150gfe4ter regarding irregul3ritiesoccurrlng due tofiaud rètherthBn error, 85 fr8ud involve5 Intentlonalconcealment. for8ery, A fiirfhp.r dp5criplN)n of oiir rp8pnnsihililip% Inr Ihp Aiidll ¢1 the fioancial slalemenls is localed on Ihe FSnancl81 Reporiinj Counul's website al.. vmv.frc.org.uk13udilorsresponslbllllies. This descriplion lomis part ol our2udilor's report. Llse of our report Thi5 repori is made sdely lo Ihe ¢harllable compsny's members, as a body. iii accoTdance wllh Chapler 3 of Part 16 of Ihe Companies Act 2006. Our audil work h?s been Ljndortaken so Ihal we might slate lo Ihe charilablo company's mÈmbÈrs Ihose malleis we 8re ￿qUIred lo 51ale lo Ihern in an Audiior's report and for no other purpose. To Ihe fullest exleni permilled by law, we do not a¢￿p1 or assume responsibilily lo anyone olher ihan Ihe charii8ble cornp8ny and Ihe chsiilable ¢OTnpanls member5. as a body. lor our audll woik. foi thls repod, orforlhe OPinK)ns we have formed Richaid Weaver Senior $181uloryAudllor For8nd on behall of Haysmachlyie LLP SialuloryAudiior 10 Queens Slreel Place London EC4R 1AG Dale 19 June 2024

Centre for Engineering and Manufacturing Excellence Limited Consolidated Statement of Flnancial Activltles lorlhp Year Ended 31 De¢ember 2023 lincorporatlng income and expenditur8 accountsl Not&s Unre8trict8d Funds RÈstri¢ted Funds Total 2023 Totsl 2022 Income from Other Iiading activit￿S Investment income Charitable a¢tlvitie8 Skills & eduGalion and business support accommodation and related 5ervicÈs Srfro funding Ttstsl Incomo 2.563,972 2.563,972 2.454.044 21 1,738,487 1.738,487 1.695.823 71,033 4,373.496 71,033 4.373.496 4,156,655 Expendtture on Raising funds Charitable activitles Skills & education accommodation and suppoil seNices Skills delivery and bu5ine55 support Tota1 cost of charitable aGtivilie$ Tolal expÈnditur8 657,716 657,716 936.￿5 3,775,720 383,160 4,158,880 3,722.437 71.385 454,545 454,545 7,457 3,729.894 4,668.899 3 775,720 4.433,436 4,230,265 4,887,981 Nel incotrÉl lexpendilurel 159,9401 1454,$451 1514,4851 1509,2441 Nel mov8menl in funds 159.9401 1454.5451 1514.48Jl 1509,2441 RECONCILIATION OF FUNDS Total lund8 broLighl forward at 1 January Total funds cariEd ftrrward al 31 Dec8rnber 8,218.347 8,158.407 14,078.214 13,623.669 22,296,561 21.782.076 22,805,805 22,296.561 18

Valerie Ellen Le Vaillant (Nee Owen)

Date: 18.06.24

Centre for Engineerlng and Manufacturlng Excellence Limit&d Consolidated Cash Flow Statement for the Year Ended 31 December 2023 Notes 2023 2022 Cash flow from operating activities.. Net Cash (used inllprovided by operating actlvltle$ Cash flow from investing actlvities Pur¢hase of property, plant and equipment Net cash provided by (used inl investlng activities 83,189 575,970 101,039 17,850 146,761 429.209 Cash flow5 from financing activities: Repayment ol borrowing Finance lease Inleiesl paid Cash inflows from new borrowing Net cash provided by financing activities {443,3301 155,5741 325,000 173,904 1361.4371 152.5901 73,833 340,194 Change in cash and cash equivalents in reporting period 1191.754} 89,015 Cash and cash equivalents at the beginning of th& reporting pèriod Cash and cash equivalents at the end of the reporting period 1,582.524 1,493,509 1,390.770 1,582,524 2023 2022 Note 1: Reconclllatlon of net {expendltur81 to net cash flow from operatlng activities Net lexpenditurèl for the reporting period las per the statement of finan¢lal activities) Adjustments for.. Depreciation and amortisalion Charges Finance lease Interest paid Loss on Ihe sale of fixed assets Deciease in debtors IDe¢reasell Increase in creditors Net cash provlded by operating a¢tivities 1514,4891 1509.244) 885,503 55,574 1,234 {89,3181 255.315 911,680 52,590 111,3551 132,299 575,970 20

Centre for Engineering and Manufacturing Excellence Limited Notes to the financial statements for the year ended 31 December 2023 q. CHARITY INFORMATION CEME is a company lirnited by guarantee Iregist8red numb8r 042388621 which 15 incorporated and doM￿lled in England. It is also ￿giSte￿￿ as a charity with the Charity Commission Iregislered number 11333961. The addr88s of Ihe regisler8d office 15 CEME Campu8, Marsh W&y, Rainham, E5S8x RM13 8EU. 2. ACCOUNTING POLICIES Ba$lc of a¢countlng The accounts Ifinancial statements) have been prepared under the historic81 c05t convention In accordance with the Charities SORP IFRS1021 applicable lo Charities preparing their accounts in accordan￿ wilh Financial R8POtting Slandaid 8pplicable in the UK and Republic ol Iieland and the Companies Act 2006 and UK Generally AcTrpted Pra¢li as il applies from 1 January 2015. CEME Litniled meets the definition ol 2 publi¢ benefit enlily under FRS 102. Assets and liabilities are initially r8cogni58d al hi810r￿al cosl or transaction valiie iinless olherwse stated in the relevant acC￿lnI1￿g policy notelsl Th8 Financial statements of CEME Limited and its Subsidiary company are consolidated, on a 5ine-by-line basis, to produ￿ the Group lin8n¢ial stalemenls. The con801idaled enlily is referred to as'lhe Group. In accordance with section 408 01 the Companies Act 2006. no individual statement of financial Activi1185 has been piesenled foi the psrenl cornpatly, Cenlre foi Engineering arKI Manutactunn9 Ex￿llen￿ Limite(l. Preparatlon of Accounts on a Golng eoncern basls After making appropriate inquiries, the trustees have a reasonable expectation that CEME has adequate iesoLirces (strong cash balances) to contr'nue ils opeialional existence for the foieseeable fiituie in the ¢a5e of any decline in demands. We believe that there are no material uncertainties that casts doubt over CEME'S ability to continue in operation The accounts hav8 therefor8 ￿en prepared on th8 basis that CEME sat15fi8S the going concern assumption. W8 have s81 out in the Trust88s Report a review ol financial performarn￿, the charity's reserves position and the rnanagement actions. We believe that we have adequate financial resou￿$ and are well placed to manage these economic risks. Our immediate planning proc085, includiw fi.￿an￿al projections, has taken Into consideration the current 8conomic climate and uncertainty and ils potential impact on the various sour￿$ ol incorne and planned expenditure. The directors. having considered cash flows, income stieams opeialions believe that CEME has adequate resourTrs to continue in opeialional existence lor the fo￿Seeable futu￿. The ac¢ounts have therefore be8n Pl8p818d on th8 basis that th8 charity is a going Ctsn￿rn basls. Fun¢tlonal and Presentation currency The functional currency of CEME Limited and ils subsidiary is considered to be pound51 £15teiling because that is the CU[￿neY of the primary economic environment in which the charilylgroup operates. The consolidatgd financial statements are also presentsd in pounds Steiling. 21

Centre for Engineering and Manufacturing Excellence Limited NOTES TO THE FINANCIAL STATEMENTS contlnued Income Income for Skills & Education busin8SS SUPPOrt, Accommodation and Related Setwce5 represents amounts invoiced, net ol Value Added Tax. for the piovision ol training f8cililies. business incubation facilities and related supportive a¢tivilie5. Income from operatin9 leases is recognised in the peiiod to ¥vhich the rental income and sUPPOrt services relates and to the extent lo which the company becomes entitled to the income under 8 tenancy lease agregm8nt whe￿ income for goods and sèrvi￿$ provided is received in advance ol the goods or s8rvice5 being provided by the Centr8 for Engineering and Manufacturing Excellence Ltd amount prepaid is eredlted to Deferred Income. On ieceipl, donated professional services recognised on the basis of the value ol the gift to the chaiity which Is the amount the charity would have been willing lo pay to obtain servi￿$ ol equivalent economic benefit In the open market, a COFre5ponding amounl is then iecognised in expenditu￿ in Ihe peiiod of re￿IPt. Arnortisation of Capital Grants.. Where fixed assets are acquired with the aid of specific grants, they are capitslised and depreciated in accordano8 With the slated depreciation policy, with the relaled giant being r81eased from Reslricled ResetV85 to Unr8slricled Reserves over the 8W8Cted uselul life of Ihe relaled fixed a5sel5. Significant Judgements and Estimates Pr8paialion ol the financial slatetn8n15 requires management to make signili¢anl judgemenls and eslimales. The areas in the lin8n¢ial statements where eslimalions have been made include.. Tangible Assets- the useful 8conomic lile of Bssels used in calculating depreciation Amort158tion of Capital Grants.. Wher8 fixed asset5 are acquired with the aid of specific grants. Ihey ar8 CaPltali5ed and depiecialed in a¢¢ordance with the 5t£led depre¢ialion policy, with the related grant being released from Restricted Reserves lo Unrestricted Reserves over the eypected useful Ille ol the related fixed ass8tS. The estimates and underlying assumptions are ieviewed on an ongoing basis. Revisions to accounting estimates are iecognised in the period in which the estimate is revised if the revision affects only that peiiod, or In the period of th8 revision and fuluie p81iods if the rewsion affects both currenl and future periods. Financial instrvments CEME Limled ha5 finaneisl assels and financial liabililitss ol a kind that qualify as ba51c financial instrurnents. Ba51C financial instruments are initially recognised al transaction value and subsequently measured at amor115ed cost using the effective interest method. Financial assets held al amort15ed ¢osl comprise cash and bank and in hand. together with trade and olher debtors excluding prepayments. Financial liabilities held al arnOr￿sed Cost comprise overdrafts, tiade and other C￿ltorS. 22

Centre for Engineering and Manufacturing Excellence LimFted NOTES TO THE FINANCIAL STATEMENTS ¢ontinued Expendltur• All expenditure is accounted for on an a¢cruals basis and has bè8n classified under headings that aggregate all costs related to that ¢alegory. Where costs cannot be directly attributed lo particular headings they have been allocated to activitl8s on a basis consistent with usè of resour￿$. The majority ol overh8ads have been apportioned on the basis ol headcount because that is the main driver of costs in the charily. CEME initially id8nlilies the ¢osls of 115 5UPPOrt functions. 11 then vJentifie5 th058 ￿$ts ¥vhich relate to the governan function. Having identified it5 gOv8M8n￿ ¢osts, the remalnirKJ 5UPPOrt costs together with the governance costs are apportv)ned belw8en raising funds and the charitabl8 a¢livilies undertaken (see note 81 in the year. Govemance costs a￿ costs a550ciated with the strategic as opp058d to day to day manag$m8nt of the th3rity's TANGIBLE ASSETS AND DEPRECIATION Fixed assets are stated at historical cost or valuation less depreciation. Donated a58els valued al £2,5(K) or over are r6ccgnised al market value as determined by an independ8nl valualion when lille is passed lo CEME. Purchased a55els with a cost of £1,500 or tsver are recognised al historical cost when puichased. Depreciation is provid8d on all langible lixed assets al rates calculated lo wrlle each a58el down lo ils estimated Esidual value eventy over ils expected usefiil life. a8 follows.. Long Leasehold buildings and improvements Iheielo over 50 years Plant, hAachinery and equipment over 4 to 10 years offi￿ Fumilur8 over 4 years INTANGIBLE ASSETS AND DEPRECIATION Intangib￿ fixed assets are non-monelary fixed assets that do not have physical substan￿ bul ale idenlif18ble and are controlled by th8 Charily through custody or legal rights. An intangible asset is iecogni5ed then il is separable or siises from conlraclual or other legal righ18 and if il is probafjle that ils eipe¢led future economic benelils wll fiow to the Charity. and il its cost or value c8n b8 m8asured reliably. Inlèngible lixed assets costing Thore than £1,500 are capilalised. Intangible assets 818 mgasured initially at cost and subsequently at cost le55 impairrnent and less any accumulalsd amortisation The ￿SIdUal valu8 of intangible fixed assets is nil when calculating the charge for Smortisalion unless reliaNe evidence @xisl8 to the Conlraiy. Amortisation of intangible lixed assets 15 charged 8$ an expense to the felevanl slalemenl ol finanaal activities ISOFAI category reflecting the use of the asset. Intangible assets are amorti5ed on a straight-line basis over th8il U58ful economic lives. If thè useful life c8nnot be estimated reliably il is presumed to be no rnore than five years. Amortisalion comtll8nc88 when an intangibl& a5S8t is available lor use. Intsngible assets represents 50ftwaie ￿sts whi¢h is amortised at 20% par annurn. Intangible assets ar8 only reviewed lor impairment ifthere are indicators that the asset may be impaired. 23

Centre for Engineering and Manufacturing Excellence Limlted NOTES TO THE FINANCIAL STATEMENTS contlnued INVESTMENTS Inveslm8nts in Subs￿lary ¢ompanies ol Centre for Engineering and Manufa¢tviing Excellence Lirnitèd, are slated at cost. FUND ACCOUNTING Due to the consliaints of law and donor imposed restrictions the charity segregates 115 funds betW88n r85tricled funds and unre5trictecl funds Unresliicled lund$ r8present the accumula18d surplus on in¢om8 and expenditure and ale available for use at the dIS￿tIon of the Board In pursuing th8 general charitable objectives ol the charity (see Report ol the Tru5teesl. Designated funiss a￿ funds that have been sel aside out of unre5tricled funds by the Board for a specif purpose. with the balan￿ consliluting the charity's General Reserves. There are no deslgnated funds at present. Where funds are le￿iVed under contracts to run government funded progr8mtnes they are dassif18d as restricted. Wh8n the Servi￿ is prOv￿ed. if any surplus arises this becomes unrestricted wth agieem8nl from the fund provider. Resliicled funds represent Income receivad where the donor has iinposed reslri¢lioi)s as to how the monie5 shall be spend. The natur8 and purpose of the reslricled funds are also set out in Nole 21 lo the financial ststements. LEASES Where asset5 are linanced by agreements that gwe lights approximating to ownership I'fin8iice leases and hire puicliase conlfacls'l. the assets are treated a5 if they had been purchased outnghl The amount capitalised is the present V8lue of the rninitnum finan￿ payments payable during the finaTh￿ term. The COr￿SpondIng finance commitments are shown as obligations to the provider ol finance. Finance payments are treated as consisting ol Capital and interest elements, and the Interest is charged to the Slalement of Financial ActiNities on 8 Straight line basis. All other leases a￿ 'operaling leases. and the annual rentals are charged to the Statement of Financial Aclivibes on straight line basis over the lease term. There ale no operating leases at present. PENSIONS CONTRIBUTIONS The company operates a dofined contribution sch8me. The pension costs charged in the financial statements rq)resent the contributions payable by the charitab18 company during the year. 24

Centre for Engineering and Manufacturlng Excellence Llmlted Notes to the financial 5tat8ments 2023 2022 J. O¢herTradlng Actlvltles Rent COnfe￿n¢t Cenire Suppori ServSces 2.134.337 169,449 260.186 2 563.972 1.923.576 303,393 227,175 2 454 044 CHARITABLE ACTIVITIES 4. SKILLS & EDUCATION AND BUSINESS SUPPORT ACCOMMODATION AND RELATEO SERVICES 2023 2f122 Furfher EducalioTr and Apprenb￿S spa￿ and Learning Support Business Incubalion Centre 579,862 769,611 IGG.2Jf3 544,452 745.538 IIJO.14G lJfi.282 6 Jf.205 1695 623 Laun¢lipad TTaining Cenlre 65.205 1 738 487 5. RAISING FLINDS 2023 2022 Conlererhce Centre SuppDrt costs Space, IT and Shared Servicas Te￿phOne and Franking recharges Car park cost Governan￿ Gosts 4S3,048 152,158 262,598 9,889 21.082 322.179 290.183 10.591 25.281 25.909 857 716 Taxaiion- CEME is reglsiered as a chariiy 8nd as such is enlilled lo the exemplion5 under 5eciions 466 10 493 Coiporalion Tax Aci 2010. The company can clalm all VAT Incurred except where incuired on iullning cos15 of goveinrnenl funded proorsmm6$. Th6se programm8s ar8 run on a rdmbuisemenl basis and Ihetefore Ihe c0510l the ￿reCoVerable VAT is co¥ by grani fofidino. 6. SKILLS & EDUCATION ACCOMMODAMON AND SUPPORT SERVICES 2023 2022 Direclcosts DewecAalK>ll of buildino and founding assel Snfvaslruclu SuppDrt costs Governance costs 2.567.183 662.056 863.018 66 622 4 158880 2.581.615 663,217 407,586 70.019 3 722 437 7. GOVERNANCE COSTS 2023 2022 Fee5 payable lo Ihe group's 8uditors for the audilof the uroup's annu818wouiIIs Fees payablg lo ihe group's 8udiiors for olherwork 29.000 27,000 8,WD 7,000 Taxalion lee pay8ble in respeGI of Ihe subsidiary rruslee expenses, reciuilmenland insurance Board and cofflmillee support r￿81￿ 1.470 5,995 48,067 1,375 17.010 44.864 97.249 l Tiavel expenses inciirred by Trustees in respecl of CEME meetings emovnled lo e1.479 12022.. £1,981) duriny the year. The nufflber of Trustees recewing expense relmbwsemenl (luring Ihe year was 31202?.. 21- Truslee indemnity Insuran￿ cosl £1,51612022.' £1,444). 25

Centre for Engineering and Ivlanufacturing Excellence Limited Notes to the financial statements Kly Managemtrnt Pèrsonnèl 2 The key management personrEI ol Ihe ¢h8rily compiise ihe Iruslees. the ChEI Exe¢ulive end Ihe Finan¢8 Dlrector. Executive Directors weie remunerated for acting ￿ Ihal role under the ?ulhorily of CEME'S memorandum Snd artldfrs of 8sswab"on. These cgsls refftect the pay and non pay cosls of the CEO and Finance DireGtor relat￿9 lo preparolion for and altendan￿ al Iruslee meelings. and the pay aTrd non pay costs of Non Execubve DireGlors. va￿rie Le vall￿nIWa9 paid £15,000 for her se[vi￿S as a Chair. A non execulive director, Dr Keyvan Diarnarani. was paid £1,8DD for perfoTmirw Ihal role. Paymtnis 10 non-execLJlive diiectors are made under the aulhorily Df CEME'S mernorandum and stN¢ltrs of association. Key personal management retnunerabon as follows". pay E220,30212022". È101,4491, pension È11,60212022 . 6,5941. e￿￿0YerS Nl E28.66812022 £5,718) and olher benefil E3.35112022. E2,2501. Bonus accrued £78.61912022 £nill. 8. TOTAL EXPENDITURE Dlrect Cost SupportC05ts Governanco Cost Total 2023 Management Finance HR 8,049 Ratsing funds Skills & edii¢aiK>n a¢commdaih)n and support seM¢ts SkSlls delivery 8nd biislness wpporf 309,628 191.901 122,229 25,909 657,716 3,220,239 71,385 3610252 514.044 327,414 21.560 66.623 4.158.880 71,385 4 887.981 705 945 449 643 2022 RaisiTrg funds Skills & education accomttK)dalion and Èupport servicès Sk115 delwery and business support 936.005 3.722.437 4 665 899 9. STAFF NUMBERS AND COSTS The average monlhty nUTnberol person5 lincluding trxeculniè diredorsl employed by Ihe company durin9 the yegrw85'. 2023 No. 20 2023 No. 2D OperaiK)n5 Goveinan Supporf 24 24 2Q23 2023 The aggregale payroll cosis of Iliese persons wertr as folh)ws'. Wagès and salaries So¢S*l securlly COS Oih8r penslon cosis 842,751 02,83 47,580 983,170 92,845 50,2B1 1053 702 Th03e recelviw emkloyee benefits lexduding emvoyerpension conlribulion1￿ the folbvAng r8nges were.. 2023 No. 2022 No. £60,001-E70,000 £60,001-£70.000 £70,001-£80.000 £80,001-£90.000 £120,001- £130,000 £200.001-£210.000 Pensioll5 contributions rn8de on behalf of empk)yees eaining in Èxcessof £60,000 per8nnum were È19.43712022.. £24,257). The group 0￿rateS a defined conlribulion pension scheme. The assels of the scheme are held separately from those of the group in an ￿dependenIty adrninislered fund. The pellsion coslcharge represenis con1n￿liOnS payable bylhegroup lo Ihe fund. 26

Centre for Englneerlng and Manufacturlng Excellence Llmited Notes to the financlal statements 10. RELATED PARTY TRANSACTIONS In Ihe opinion of the direclors Ihe following weFe relaied parfies of CEME.. Ford fvblor Company. Haverlng Colbge ol Further and Higher Education, Baikin9 and Dagenhatn Colege, London BoFough ol Havering, and Ihe London DevelopmenlAgency. CEME Iran5acied wilh thè rÈlaled parbes dufing the yearas fdlows.. 2023 Gtoup 2022 Gioup Regenerat￿￿ programme funding.. London Devebpmenl Agency For faBrfilies rpntal and provision olcore st￿lce5 bylhe Group.. Ford bMol¢r Company London Borough ol Haverlng Barking and Dagenham Colby8 Forgoods and services piovided by Ihe G￿p". Fold MolorComp8ny Londoii Borough of H2ver¥19 BaTking aiid Dageiiliam College For gooKls aiid setvkes yovided lo the Groiip.. Ford Molof Company The balances lowed by) I due lo Ihe Group al 31 Decemberwere as fol(wJs'. Ford Motor Company Barking and Dagenham Col￿ge London Borough of Havering Havering Colleye 93,249 81,808 73,9 46,760 38,115 34,058 72 1.352 6.027 3,479 The nature of the refalionshlps wilh rdal8d part￿5 was as lollows.. London Borough ol Haverino Righl ol gpproval lo changes ￿ LEfvIE¥ slroleor p￿￿ aiid coiporate governance slruclwe. London Developmenl Agency During thp year CEME Ltd has recharged CEME Enierprise Lld Isubsidiaryl cosl of É282,226 12022 '. £355.5531 made oul of costs paKJ on behalf of CEME Eniert*i$e toialling £253,477 12022 £321,777 p￿$ ￿nI and setvices pro¥￿ed by CEME Ltd lolalling £28,749 12022 . £33.7761 Èxcluding VAT. at year erKS the outstanding atnounl owed lo CEME Lld from CEME EnleFprise Ltd was £70,027 12022 £501,549). Amounl of £421,889 was wrilien OM during Ihe year as iirecovrabk fro CEME Elllerpiise Ltd. Tlie Conlerence Cenlre inclvdes £28.749 (2022.. f 33,7761 ol appothoned costs forfa¢lNty and IT. The apportlonmenl has been calculated on the basis ol volume of Spa￿ ulilised There were no ielaled p8ty Ir8Th58cli￿5 In 2023 or in 2022.Key rnan8oemenl peisonnel IKMPI and Tiuslees exrRnses renumeralK>n is dis￿O$e￿ In iioles 11 and 11 respeclivdy 11. NET EXPENDrruRE 2023 2022 The nel expendfture Is slated after charying Fees paYa￿e lo the charlty's audliois forlhe 8udll ol Ihe charlly% annual accounls Fees pay¥ble lo cliarlty's audilors ror the audit ol Ihe charily's Subs￿l8ry pursuantlo legislalto 21.000 20,0Th) 8.000 7,000 Tolal audil fee5 Taxation fees for th2 subsKlpary Tolal fees payable 29.000 27,000 30 475 28 375 Gro%Jp Group Charlty Charlty 2023 2022 2023 2022 Deprecialion ofiangible fixed as5els Amortisalion of Intangible fixed as5elS Rental costs ielaling lo opèrating leasÈs-. Ph￿o¢oPY mathknes (Lossl on disposal of fLxed 8$sels 878,672 6,831 904,848 6,832 86Y.461 6,831 891.602 6,832 27

Centre for Englneering and Manufacturlng Excellence Limited Notas to the flnancial statements 12. TANGIBLE FIXED ASSETS Grou Long LÈasehold Toi Equlpmenl and MolorVehidÈs Cost 1 J8nuary 2023 Aijdilions DIspos815 31 December 2023 36.138.410 30.327 6.345.202 41.918 42,483.612 72.245 36 1e8 737 6 377 413 42546150 Deprèelatlo ) January2023 Charge in Ihe year Disposals 31 December 2023 13.517,830 712,036 J.734.531 186.636 19.252.361 878,672 14229866 5.892 694 20 122 560 Net book value 31 Decfjmber2023 21938 871 484719 22 423 590 31 Llecember2022 22 620 $60 610671 23.231251 CHARITY Long Leasehold To￿1 Equipmoni and Molor VthKles Cost 1 January 2023 36,136,410 30.327.00 6,133,844 41,918 9.707 6 166055 42.272.254 72.245 Disposa 31 Decetnber 2023 36 188 737 42.2?4 792 D•preclatlon 1 January 2023 Charge ￿ IhÈ year sposals 31 December 2023 13.517,830 712,036 5.546,971 157.425 8.473 5 695 923 19.064.801 869,461 8473 19925789 14229U66 Not book value 31 December 2023 21938 871 470132 22 409 003 31 December 2022 22 620 $80 586 873 23 207 453 The rEI book value of ￿an1 and rnachSnery includes £1,183.11712022.' £1.341.3741 in respect of as8È1s he￿ underfinance as65. The ¢JeprecialK)n chargè on these asselswds £136,76212022.' £184.0341. The lono leasehdd buildinys are conslruGled on L3nd lèaged by ihe Ford Motor Company Llmited 10 The London DevelopmÈni Agencylsee also Note 121 and sub-let by the LI￿(k)n Developmeiil AgenGy lo the Cènii8 for Engln8ering and Manufacluriny Excellen￿ Ltd ICEMEI- The lease and the sub-leasfr explre In Ihe year2127. In athition lo use by CEMÉ and lis subsidiary Company lo oterale acliwlies ￿L￿h 8$ the conlerence trntre, and IhÈ Gatsway lo Skills Cenlre, the propeily a55eis ale let out under opera￿-ng lease agreements and short lemi ienlals 28

cent￿ for Engineering and Manufacturing Excellence Limited Notes to the financial statements INTANGIBLE FIXED ASSETS IGroup •tid eharltyl Sofvare Co$t 1 January 2023 Addit￿n$ Disposals 31 Decemb8r2023 34.160 28.800 62.960 Depreclation 1 January 2023 Charge in Ilie year DlsposaI5 31 December 2023 23.331 6.831 30.162 Not book volue 31 De￿rnber 2023 31 D￿eMb￿r 2022 13. INVESTMENYS Group Charlty Shares In group undertaknngs and parficipaling interests 1,000 CEME own5 100/0 ol i5siied shales of CEME Enlerprise Lld. 14. TRADING SUBSIDIARIES Nel expenditure of CEME before consolidalK)n of the Irading subsidiaries was £383.55112022.. £454.1331. The results forCEME EniÈrpri$e Llmiled l¢ompany nurnber 071159231 are shown ￿k>w. CEME Enlerprlse runs lh8 conference cenlre al CEME. Ntl IlablliU8s of Ihe company were £407.30212022 .. £276,364) alyear end. Limi 2023 2022 Toial income Go¥emmenl grant Cosl ol sales Gross PiofiVILossl Administraiion costs Inleresl re￿￿)able Loss before taxat￿n 169,449 303.293 232 600 33.759 1107.6161 354,102 290 951 2023 2022 Fixe(l Assets T8noible Assets 14.587 23,798 CutrenlAsse15 Debtors Prepaytnenl Cash al bank and in hand 42,85D 58,491 55,294 185,005 Credilois.. amounis falllng duewlihkn one year Creditors 98,144 543.658 NetCur￿nl Ligbillie5 Ttsl¥l Asset Less Currenl Lvabih'lE5 1300.1621 276 3e4 Capital Reserve5 Sh8Te Capital Retained Eamings 1.000 1,000 277.364 276 364 29

cent￿ for Engineering and Manufacturing Excellence Limited Notes lo the financial Statements Group CharRy 2023 2022 2023 2022 IS. DEBTORS Due wilhin one year.. rr8de debtors Amounts owed by group Undertak￿9S Other d8bttrs Ènd pr8paymeni& 217.813 163,175 174.963 70.027 194.788 439.778 124.684 501.549 140.108 766.341 194,788 412,601 140,108 323,283 CEME Ltd has spcufftd an OVeFdraft facIl￿V0[ £400.000 with 8aittlays bai)k. This Is secured on nel deblors. Group Chailly 8. CREDITORS & LOAN anwun15 falllng due wllhltTr onè wa¥ 2023 2022 2023 2022 Trade ciedilOIS Deferred Income obl￿*110￿$ undtrr frn¥nce lease and hlre puichase 319.653 332.670 531,953 384,803 311.817 332.670 511.468 984.803 183,992 61,333 192,2D7 106,332 183,992 61,333 192.207 106.332 CBILogn Amounts owed lo yroup iindertaklnos Olher taxes and 50cial 5ecuriIy Ollier ciodilois ai)d acGfLta16 145,077 9Jf4.997 1.997.722 101.821 137.121 942.672 1,969,605 90,041 88G,267 2.213,227 Movomont on doferr•d Incom• (Due wSth In one yearl Groyp Chailty 2023 2022 2023 2022 Defeired income browhl foiward Re81ised duiing Ihe year Deferred during the ye?r Defeired income cariied fotward 384,803 363,079 3841,803 363.079 t 2JfB,818 332 670 1.303.Z01 384,B03 1.2S8818 332.670 1393.201 384.803 Deteired income relales lo renlal inGorne received ￿ a(fvance ol Ihe perK￿ lowhlGh il relates. Group Charltv 17. CREDITORS & LOAN: amount$ f)Illng due after moTè than onè yÈar 2023 2022 2023 2022 Deferred incotne ObligallDns under financè lèasès and hlre purchase agreetnenls CBILoan Total otedilor$ 18llino due after nM)re ￿an 1 yr 93,025 186,049 93,025 186.049 272,374 114.582 479 961 147.429 304.621 638 099 272.374 114.562 479 061 147,429 304,621 638 099 CBILoan ietms are 5 yÈaiswilh Ihe firsi payment during Jul 2021112monih after ihe first drawdown). and a margln 013%. The first 12 months arÉ r6paymtrni and Inier&si free. CBILoan wgs pald oHduring the ye8r. C81Logn 2 lerrn5 ale S years wilh Ihe first paytnenl during Jul 2022112monlh aftErlhe first drawd(wml, and a tnargin of 3°A. The ￿[$1 12 mgnlhs are repaymenl and Inleresl free. 30

Centre for Engineering and Manufacturing Excellence Limited Notes to the financial statements Group Charlly q8. COMMITMENTS UNDER OPERAfiNG AND FINANCE LEASES 2023 2022 2023 2022 Fuiure minimum oporatlng1oa$o paymenls are as fdlows.. Plant 8nd machSnery'. -Wilhin one year -BetsYe&n one and ftve years 11.080 37.837 1.044 5.220 11.080 37,837 1,044 5,220 Fuliire minimum flnan¢o leas9 paymenls are as follow5. Group CharSty 2023 2022 2023 2022 Building. Furnilure, Plant and machinery.. 1B3.992 272.374 192,207 147.429 183,992 272.374 192.207 147,429 -Belween one End five years The London DÈvek)pmenl Agency rent the on which the CEME ¢eniw of excellenc81s siled ￿ 8 125 year ￿aSe lo CEME al a peppercoin renl. Thk5 lease exclude5 Ihe IMovalion CÈnirtr and expi168 In more thar) fNe year5. The London Develq)Menl Agency rent the Innovabon Cenlr618nd on a 125 year lease lo CEME 81 a peppercom rent. Thi8 leasè Èxpiie$ In more Ihan Iwe years 2023 2022 2023 2022 19. RENTAL OPERATING LEASES The fiiliire minimiiir lease ren141 income due from ienanls opeialing kases a￿ ss follows.. -not later than one year.. -L8ler Ih4n one yearand nol later Ihan fivtyears -L8ler than fwe years,. 3.040.857 3.333.1fj6 253.753 2,680,416 2.118,693 3,04D.857 3.333.166 253.753 2.680.416 2.118.693 20. STATEMENT OF FLINDS Balance 1Jan23 In¢omo Expendlttyre balance 31 Dec 23 Unrestricted In¢om8 Funds Gener81 funds 8,218.347 4.373.496 14.433.436) 8,158,407 Reslricled Income Funds Total 14.078.214 22 298 561 454,545 4 687 961 13.623.669 21782 076 42734 2020 Comparatlve BH￿nce 1 Jan22 Income Em￿n￿lI￿re Balance 31 Dec 22 Unreslrici¥l Inci)ma Funds General funds 8273,045 4.156.655 14,211,353) 8,218,347 ReslrKled Income Funds 14.532.760 22 805.80J 454,546 4 S65 899 14 078.214 22 29Q 581 31

Centre for Engineering and Manufacturlng Excellence Llmlted Notes to the financial ststements 21. STATEMENT OF RESTRICYED FUNDS Balanco 1 J8n23 Exp&ndltUfO B31aTrce 31 Dec 23 Capiial and ievenue eosls of the Galew8v lo Skills Centre Capiial and revenue costs gfihe G8leway for Business programme SRB 5 Casxtal. Delivtrry plan, SRB IT Capital DTI, Innovaiivfr Clusteis Fund LDA grant for eredv)n ol ¢8mpus and acqui511ion of leaching equipment ERDF Objectives11 LSC Capi181 39,080 37.946 15.453 14571 14. 3.309.634 647.133 2.516.941 539.730 3.706,451 1107.9231 121.0671 181.9831 117.6001 1117.0841 3,201.71 626.066 2,434.956 522.130 3,589.367 2.242,222 605.763 446,449 9.358 2,169.106 586.010 432.021 9,358 119.7531 114.4281 Deparimenl lor Communilies and Local Governfflenl HSSMI 14.078.214 4.E4.54S 13.623.669 These granlswere conlribL5b"ons lo ihe ¢8pital burfding and infrasltuC￿re seiup cosls ol CEME campu5. 2 These grants were piovided lo equip Ihe G8leway to Skills Ediicalion ￿nIre. 3 Thig granlwas pro¥￿ed lo equip Ihe GdleW8y for Bu¥ln*ss small busiiiess support prooiamma. 4 This grant piovidos fiinding for Ihe High Speed Sustainable Manulacluring Ii)Slilule. HSSMI 15 a divis￿Tr of CEME wilh a puipose ol (xinducting leading edge manu18cluring research wrth an aim ol improving efficiency of manufaclurÈi$ and sUp￿Y chain Compan￿%. The remainder 01 £9.358 will be paid lo HSSK41 once CEME receNes a requesl. Analy$ls ol nè¢ assols between lund5 Reslricied Unreslricled Funds FLJnd¥ 13.614,311 To131 Funds T8ngble lixÈd a$881S 8.809.279 32.798 1.794.013 11.997,7221 479,9S1 8 15$ 407 22.423.590 32,798 1,803.371 11.997,7221 479.961 ?1 782.076 Cutrenl as5els 9,258 Creditors falWn9 due allerone year Al 31 Doc 2021 13623669 Compaiative 2022 Analysls of net assets between funds Reslrf¢led Untestrlcled Futbds Funds 14,068,856 Toial Funds Tangible fixed Ssseis Inlangibl? fixed a$5ets Curroni assets Currtni Ilgbllilks Creditors falling due aller0￿ year Al 31 Dec 2020 8.404.908 10,829 1.896.449 12.213,2271 22,473.164 10.829 1,gDS.807 12,213,227) 638 099 21 538474 9,358 14 078 214 7.460.260 22. CONTROL cE￿E Is ￿nder Ihe common conlrol ol Ford Moiol Compaiiy. Haveiiw College of Further and Higher EducBlion. Batking and Dagenh8m College and London Borough ol Havering. The company's Artic￿5 of A$so¢kg1ion daled 2 January 2010 slate Ihal each ol the above is a member ofCEME. 32

Centre for Engineering and Manufacturing Excellence Limitèd Not85 to the financial statements Llnreslrl¢tod FuTrd$ R96trl¢t8iJ Fund¥ Total 2022 23. COMPARATIVE SOFA BY FUND INCOME In¢om• from generatèd funds Qlher trading aciivilies Invesltneni income l#¢ome from charitable 0¢15vllle5 Skills S educalion and buslness support accommodation and febted setvicts Segro fundlng Total incomo 2,454,044 21 2,454.044 21 1,695.623 1.695.623 6.967 4,156,655 4.156.655 Expendiluie on Raising lunits Ch2riiabie Acbvilies Skills & eduGaliDn aicointMIMlalion and support setvices Skills (lelivery and buS￿esS support Total expendiiure 936.005 936,005 3,275.348 447.089 3,732,437 7.4 Jf7 454.546 4211.353 4.665,899 Nel (expendi￿re) 154.6981 1454,5461 1509.2441 RECONCILIATION OF FUNDS Total lunds broughl loward al 1 Janii2ry Tol81 lunds carrièd fTrward al 31 Deceinber 8.273,045 14,532,760 22.BofJ.605 8.218.347 14.078,214 22.298.561 33