Company Regi5trab"on Numw. 04238862 Chanty RÈgistrab"¢)n Number.. 1133396 Centre for Engineering and Manufacturing Excellence Limited Annual Report and Accounts for the year ended 31 December 2025 ceme •AF51EV6Q' 0310712026 COMPANIES HOUSE A07
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Centre for Engineering and Manufacturing Excellence Limited Annual Report and Accounts Conlents Chair and Chief Exceculive's ctI00k Legal And Administratwe Information Report of the Trustees Statement of Trustees. resp)nsknilities Independent Audrtors, Report Consolidated Stalement of Financial Athii Charity and Group Balance sheets Consolidated Cash Flow Ststemenl Notes to the fInala1 statements 12 13 16 17 18 19
Centre for Engineering and Manufacturing Excellence Linited Chair and Chief Executive's outlook 1. CEME Is in year three of its new and progress¥e strntegy1202>281. and many posrtive slrKles knere rnade duriThJ 2025 year under miew. In order to promole enha ow charitabk objethve5. have continued to explore opportunities and strateg partnetshws in a rapKlly thaThJing. and often UnrtaIn, soL¥o- eo)nomic and political envirormeni 2. CEME has submthed a grant apWication of £73M Irom Donor AdSe IDAFI in the USA appltcats'on has been aecepted in prinupk and * have secured a £15M deposrt is reqed by DFA for a 124nonth perK)d The funds will be used over a period of 10 year5 on varK)us proje¢t$ from Greens Skills Develowen( Sustainable Construction & Retrofitting. Ckan Energy Innov3tlQn5, Economt Grtrh & Lcol EntrePreUrshiP and sustainab Tran5POrt Solutions. The e$n$ by the cuThent Administrat?n in the USA to trIct lunding to overseas Charitab purposes have delayed the process sonificantly and are Still underg)iThJ due dilwjente. 3. CEME s pmfile aThJ puts"0n in the k)cal csmmunty beyoTrJ has teen heKJhtened as have wga9ed wilh m4or industrial and academic stakeholders. not kast in the Green Teth arena where have been in5trurnenlal as a 'chan9e make¢ organisation in applying fof swJnth(ani extemal investment fuTraiw. wh51 we have continued to hold our Annual Hyyjrogen Surnmit, we are still Ic4Jking lof an anthor tenant to help kYoJress our aspiraiions to attract similar businesses. 4. CEME'S fOard strategy is bord. arnbith?U5 and seeks lo posrtK)n the or9ansation as a oynmunty asset that can tunction as a ¢alalyst for econom ¥being prosperily. We seek to achieve ¢hi$ thmugh supsx)rting business growth Iparticularfy in Gn Tech), skilL8 deVelownt and colLab)raimg wih partners to promi)te e¢or#ynr regeneralTr in therne5 that are Important to the le9K. 5. We have three rnain StrategK Pw)ritse5". To be a £>tal>%t for ewnfmt¢ wenerattr)n in the Thame5 Estuaw. To be an alerator for Green Teth contUt1j to Nei Zero." To be a tharyion indus8 8vsu$S Gro thtrxvjh skhl$ ¢evebF¥rent. 6. Whilst we are now acknowkdged as a valuable 'focalrtator and connectorf wthin the region, the outcomes of Ihese aMb.On$ will take time to reach fruition. CEME'$ greatest rall2nges remain ihe rewirernent lor inve5trnent funding, and recrurting expertise in the orcullar economy, gieen tech skills and innovab"on. 7. As part of oyr commitrnent to swThtirrfJ innol)n are partK2Marfy pr{ of the Irk beir%J uTrJertaken by H2CHP. who a devel¢)ping advan modukr puwer generation systems deSne to add$$ the growing challenge of eonstrained grKI eapacily. Their fe ptslon linear generator, which ts n¢yw being Llemoftstrated in a real miuognd environrnent here at CEME. offers an effioen( Xible Soluti for siies needing felrdble, dispatehab power, wilh hyilrogen playing a central role in enabling (aner enefgy gereration. Thi5 PToied represents an exating step foward in showcasing practical, nexi generaion enewy techl09Y. ana I forward to strenglhening our colL3boration wth H2CHP as they continue to advance their grwnd-breakn"ThJ tJrk. 8. Our efft business has been I0S1. ith over 90% ottupancy rates amongst ow tenant o)mmunrty. HOVer, in 2025 FO Motor C¢)mpany located its Appwtices. Training lacalrfy to Dunknn. This has kft CEME signffjcant space within our engineering area to re-purp¢)se for new rnaet opportunthes In aSjrth, an anchor tenant, North East London Foundation Trust INELFTI, iThforned us Ihey be ka¥in9 the cèmpus by June 2026. NEL released scrne of Ihe 5Pa early, and as a result we have ¢xealed 24 rEw small olfKes lo meet grwng demand. 9. The LaunchpadlCIC buihYirMJ remains a key enty point for eaty-5tsge businesses. offerirrfJ fleb worksp solutN)ns including Virtual offices, hot desks. fixed desks. and W811 offirE unrts. In 2025. delNered targeted growth across this se9ment, securing 4 Small new Offi occupie. 16 wrbJal Offi dients. and 4 &Jth)nal desk-based kencEs. reflecting Sustained demand lexIb and rxislffnt YJrkspace solulions. 10. CEME ujrrently supports 60+ virtual busYsses. ueats"rwJ a strong peline of fulure Crpiers. Through a structured progressvjn model, businesses trantiOn frorn virtual tenancy into physical wThspace as they driving occupan¢y. tention. and K)ng-tem) ven groAh. Ths Fty)5ibons Ihe Launchpad as a commerc4al fvnnel lor bu5ines5 grohvth, not just an entry-level product, enatling CEME to ¢aptuR. Jevelop. and retain b&TresseS 1th ec05yStern.
- CEME'S Bugness Grovrth Academy IBGAI with over l.W rnemters has tecthme recognised as an established and flourishing initiative for zMing and bugness 9rthh aThJ de¥ek)enI. Mi our BGA adNils are tree ai the point of delnfery, and we 90% of the S1$ from our o)re bud9et. This Far CEME focwed on cxeating 5peaal inteve5t groups. One targeted wornen u) business and another largeted YoungerenlpreneU(S frrm dkadvantage5 communities.
- This year CEME engaged Micledore an economics cortsuttancy to undertake an indTht VW and audit of our so(ial irnpacl acr05S the campus We athved 6 terant engagernent The new data independenuy searChe<l has revealed that in 2025 CEME delivered £23 SM of Sooal Impath. This a Net Soual Value tM on invesimenl 013.5 l a strong SROI beMen 2.1 and 4.11 Our overall GVA wa$ ¢akAJlated at £139.40M wrth an ovetall r*t GVA ¥npact lor the local economy 01 £73.35M.This dala 11 support CEME applin5 for fvture funding
- As part of our cornmitrnent to the crnation of aTh Environment knal G¢)Vernan IESGI Policy. CEME has Teed a 1L year 5UStainabihty strategy and a 3 Year acth?n plan teginning with our approach to bicYiver5ty 14 During 2024 all wr Solar AThay paneL% tre rtplad at a cost of £8th).(. 2025 the Solar Array cortributed 625,584kWh energy. The solar Array rethjced CEME'S Electrty charges by £180.c in the fit fvl year of operntKJn, and £1.380.000 over the long le, hOpelY reduong our Carbon emra5ion by 3,380 tonrtes over the arrals lifetme.
- rIng 2025 the Board apinted Simon Thecbakl, as Chair of the Audrt Cornmittee aTrJ Rthard Hutthings a5 Deputy Chair. These a both existing Tntstees aTrJ thank them for their continued and valued contrt)utions.
- Lasl but nol least in 2024 CEME a¢h¥ed a Best PlafX to WorfE Award and in 2025 CEME was Independenuy atc¥edited as a Sunday T¥ne5 Top 100 lo in the small business'$ categwy. Whilsl * are proud of this achievement, aspire 10 continuousty improve how work to make a bigger inpa¢l (lelNering our $trategi¢ prty)ritv&$ and rnaking a diffe to peop$. INes. YAlèr& L VA41tAn 03E Valerle Ellen Le Vaillant OBE. Chalr Dr Noottomon Ra$hid. Chief Execulive 3010612026 3010612026
Centr• for Engineering and manuf•dring Excelle¢ Limited Legal And Adrninistrative Inforniation BOARD OF TRUSTEES Namp es 8c lasiau ac£ou V•lEn Ellen LeVailL4nt Ichai Noorzaman Rashid (Chief ExeCUVe Olficer) 6enyoucef Houheche (Finano D*¢tOrI lan Phily Fitzpatiic Or Richard Kingsley Hutchin5 Neil Andrew Stubbings AIESsandro Attana Gavin hth'thael Ronaw Cooper Eman Martin Vignerte Snon David James Thei>b¥k1 Rajeev Ver London BOrott of Havering Ford Pkntorcompany Ftsrd Vtstor CLpanY SECRETARY Mithael Wood REGISTEftEO ANO PRINCIPAL OFFICE CEME Campus Marsh Way Rainham. E8S8X RM138EU COMPANY NUMeER ¢4238862 (Engnd and Wak$l CHARITY REGISTRATION NUMBER 1133396 (England and Wales) AUDITORS HaysMa¢ LLP 10 aueen Street Pkce London EC4R 1AG BANKERS Bardays Bathk Pl 1 Churthill Place London E14 SHP SOLfciTORS Fotsters LLP 31 Hill street Londo W1J 5LS
Centre for Engln••ring and IAanufa¢lurin9 Excelleneè Limited 1. Report ofth• Trustees the Charity'5 Owects5 r¥¢at48 cmpy. $¢kns ofthe Charitye5 2011 Ihe Ihp Fin?4 SuinIs tr the y8r. I Chartsble Ol¥•¢ s¥Kted atE8s of So0 Tr3rr Wv3ticffj In Ihe Hrthèts. Hw. N•4fiam. Greh. Bexky. ean9 & 3. R•vlv of Stratsoi¢Ain8 athd ObiÈ¢tivt $kirns aNI aroreniiceshp DpwrtUnes d2vebrmenL 4. CEAIE Values: Injpiring. InGIu5ive. Innovabve. Honest We 4MlI t¢ kt0 We wll be IrKIve iegar(les50fth) Ihvl •p.' We ¥ill te Inno¥ati¥e. r&r9 thatwl chal¥jethej Iw. CEME ha$ and to * as a cat5t r¢9ewatV. to an •xthf8W tr GreEn to ccffiti to th3rnpn bu5intss grtr¥4th We tsve athxrted w vakes dnve teh1$ b. d2%9red to F¥)5itsDn CEME to bè CEME is rne Irw w ¥iwrattrfd envvrX¢Tl ts bm55 wvj li is a dyrwrmc COThtriW 10 rS6 INj51nee5 based at CEME lo grrywfaster than Ihe nain a¥w TheCread Bwess Grwth knjemy (BCAI has frJrth2rdevehJFed dunng the r. 1500 Pwbopants tefitiN4 frw fv Jj CEKE w pO¥tts 5tart4Kts antl inrovaiive t¥Jgrsses. awan•t15•rnI Gr¢¢nTeth initi trt ev(IvuYJ •Wgy eoxystem. CEME'S bu&ne>8 has suth>sfLI in attrw a mm Asy51gJ Ftsid from USA A of £15M is wJired and a ILn faolity has rd Bardays . Hth1?. the Iss USMO has ddayed LwJsgons w the t2Tms of 9ranl (tieCbve$ Swe its ¥KpiYJn In 2003. CEME haScCffjbrd todetréer a pC&theecOrffl Ea51 LthI aTrJ Itt Thme5 E5tvw area. We bring tO3elhtt erner5. edurAtrA5. th114 ¢¥gaTh$$ Fl a 8j tyve way, O¥Nering laster and ambibw5 bu$e$S 9roth, urlrj aruj Ot Ithxl $18k#xknS ChJr tsyrwi25 tc+ 9ro f•ster. cx) and off the tU8. fts Ea8t L(K)n Camwts CEME nosts a ty801 de". TnIfig for wt4c s
Centre for Englneering and Ikinufaclurlry Excèllerte Lknitsd
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Centre lor Englne•rlng and Manufacturiry ExcÈllÈnce Limited 1. Rport oltht Tnvdtee8 Alrn 2.. 1P urmplryed poopleflr¥l emplwfflv ernkloyrnenl 3CDVltie5 Alrn 3.. Provide SUPKtrttr• 1XIng$S•S¥fr1 bt kats totrainingan¢•hp1¢ynert OPrtn$10r unofflployed peoplè. support servte$ 1$ wowded to supwixceb2raled grr1h 09 21)25. the Cenwe conbnLO to >iiai f$se5 offre SP 1•kl trxsniess svpwt to over SO Vit offtLs. kot-¢5kit¥J. smal £rffi ¥•ce5 In a)25. wp smal tsfyres5&5. athJed 16 rtl4%1 oIfic diits, Alrn 4.. PIry1 land and bullthngs on lavouvable tqffi to I5$ In wd¢r tri ¢ro•19 voiNr4 aNI •mploymort OPPDrtunilips lor lOYed wople O suppL¥t a sMnpl&'U [¥1 see is the >vu ari4y I1$$ an ¥If(ts and risk ng ¢ust¢nw t. intrudLK¥J 2025 LLK&v¥J j. VR are Flar smallw office spa¢s, InnD¥ati¥e enlerpnses in kxal areA . Foi trw$nsws th•iare ya r• tr a 08. CEME cifws t?. seryL. ThL% yovkle5 COWS %%ith a rKOfeSs kxal rnioTrbugnes5es, them t¢ e51at4ish a creoltle tr•J57e55 CEME is to 60 virtu bJrSSes, 9. CEME FUTiIRe STRAIEGY Durirg 2025. CEME de¥4( ffs sirgy for a r¥%J8 cl arwj aLrriE pt5 arrtyrg for extem Ing, Inon9 tsd$ relat 10 8 nydrt4 Carrry pwthership ith the Urivttsity of Bnffid. W? are WXvety OIsCJJss 4th the Ll E35t LL¥xkn to atrate Indlir4 tts of Irwb8trY lor Start. up nesse5 DISssn5 have Thames FreerKt to expkye CEME can WA a5 a In vmder Tharn25 Eswary inc£4t8I11h p>trers. Ths has Kwf Iri•Jla CEME's'G8le• to SIL%. 2025. 1.((#) stLthnts comirg on ramrus to lewn STEM meei the 0fr 10. SIALIC7UAE, GOVERNANeEAPaJ lAANAGEAlEr A030n 8fvJ the Chities SORP FRS102 Centre for ErvJineerirvJ and Marthuunng Excellw itrathYJ as CEMV as a ¢4)npaty Wnited by gantee (wistrath?n nwnter 0423886218rvJ Is its Of As¥rt4tro CE 35 r?)tered 35 3 chanty Igistra1 11333961 in CEME Enkiw5e Limtsd. a regred ccffiwy {ThJnter T115) Z)10 85 8 4lY{l1J subsid1 of CEME Lifflited maje train9on 31tknts 2021 Thethanty had M hTr•>rg re9j L4*s162AlÉChWth8S XJI1.
Centre for Englneerlng and &lanufacturlng Excellerte Limlled 1. Report oftho Tru5t••5 11. Board olTn The 800 olTmstees. are so ri&ys ofts fry fv pxroses (dthe ACL ha¥e over1 fty the dIrttb. o (hE reKrfes8ntsfve diredu nCrnat¢ by Ftyd MotQT CunrAr o One represeDtstive dirthr noninatJ Irthv a Ne Cc4ge Fwtrer and Hiuh EttLrab and Barkry Ce4 ieoci. LW thwrsLKWX¥ W. o One direaN romated Uy tr LoThJ)n Iv)nal dir19 aFyinieJ by the sr¢wti5e On& r1)n•ebbEWIO3r1as Ctsim rnwEhenve briefiry ith Extstive a srte in to a rnmber of inthatNes ar1 In and aTrline an¢ ddiverojr straegc goas apr1 CCnSWtty ty. We to fr t)EIlve .(Dr.L g)vernan vthhin tr TrmeS din6s rnethr¥Js and Sabsw th91 the Cwty apleS tl 12. Pae$ CEME opeiate5 a Sub CEME E)86 Lfflrt. tr1$ is a (tMno trt Ccfifererte Cntre siness and W¢e is a related party ta Ihe ICEME rted1. TIMS 35 Trjl tradw Dm the 31st DeCr 20YJ du2 to a CEME 15 under the of FMJ PJtor cy. ol Hwrg. trL9vvirg Cc4ege Lrf Fufv EthJrKW Ift¥ a CEME. a ftrrkntrolCEME •)1¥ CEME as The Grer LoThYc• As8•W IGIA) rwbio CEME oi thrh CEME Cwrtre Sited cfi 8 12&ye8r 8se * a FeFWtam rent. It also ase5 ts InTrJvaiTh c C a 12 a5e * a fert. ThE L¥8 freeith d ihe the FO Mrlor Corrwarry.
Contre for Engineerin9 and Manufactiwing Excellence Umited
1. Report olthe Trustees
13. FINANCIAL ieviEW
Twadiry Perfowmance
CEME'5 is frcqn th•pEd af the CEME a fijty l&ithiro enM)I
CEME wernte5 a number ol on its Fark. the man thai skils aid edurati and office
£4,615,865 and aLthd IOSS is £407.988 kJ55 Ir4je5 a of £926.48?) Prior year rov VA5 £4,643,608
Jjusted loBsof£14.490I ksss WLsa of£868.9951.
R•ser¥95 Policy
Toial fun(P& hekl at 31 c(nr2025 kn£21.359.598 nwje tyAof£12.714.5TI fiJndS £8.645.021 uNegtrictsY
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Grrfng Concern
CEME has 4dwer¥ 8 strory fin8rKial and nw an ¥8rt 10 2026 tré by a NHS to
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Centre for Englneering and Manuf¥cturln9 Ex¢ellen¢¢ Lirnit•d l. Report of th• Trustees 14. Rlsk h149•Mt and Int¢rnal c[01 The TStee5 have ovets4 fr ewrvj ts the r¥wate5an systern cltrJhtro&. fvr1 and 01m$e. SLKh nKinitrWa. This i% acheNed Ihw." CEME'S syskns ol LWtt(d. ti5k rwenwi rXArythaIe mÉstatement k6 They Vide. o Fiv&ye8r plan and cash fky trAeca5t knnual InEsS plan. bLKJgei cath IlfiXec2S1 o Regular ojnsiderabon by ts TW5t Of¥A iesuls t>Yfwr•Yx4h IxO301& Cash restywes kn14s Sewegan ofdube5 o Idenuficatw of. managwnertot. r Rellur tevthoffirwJa ¥¢threS. Trustees, in mnefshp ¥Mth Ihe feary Flay a key IA e¥aiL4bf) of nwor risks to h CEME Is CEME rtthst nsk maThwl 8ThJ mrIrI4 to ast in Ih2 5tralegK and operatTr Mernt of ts Organisat. The ris5 are rrKr¥tcKed Ihwh a r¢k £1$¢¥ ltst is ba$. The nsk reui5ter loos at risks ano a>sess8s ts inw CEME based cn the Stratj, ope[0. 11 also anal$, Irdudiro ai a5se55rnent of T. do matenvjise. provbyes key nsks avj the ltri•t a uThYertaken to man¥ the nsts CEME a150 mwtaffj5 a ILdl n5k wLster Ihat id2Dtifs thè risks. new and dien IrddeAtsthatAWf sevJrlty. fr4d dml<Jd¢Tr1 Subtyrttld ¥oDavofrJrr•nlkqYd5Ib•%S1E&n5Ilr4&IrccSl Ir•¥ 10 51ronohentfrrty45 plw Ilne •id IEstrbry)d•dISftotfvf0rU#o ¢¢41nd#0r51n th IrfluÈf*(ÈS
Centre for Englneerlng and Manufacturing Excellence Limiled Statement of trustee responsibiMie5 Th• Tnjstees (who are also trectots of Centre Iw EngineeNJ Manuf•¢turin9 Excelknce lor the purposes of ompany law) are respons18 for prepariTra Tr%18?5, Annual Rep)rt and the financial 5tatern•nts in accordance with applicabk law and United Kingdryn Generalty Ac£epte£l Accounlry Prac11 (Uniled Kingdc7) Ac¢ountiry Standards). Cornpany law require5 lh• Tru51tt5 lo preparv financial 51atoffen15 foreach fancIal year. Under cornpzny L3w ihe Trustees must not approve Ihe fmanoal Ststents unkn tw are satiSd that Ihey gNe a trtse and lair view of the state of affairs of the charitrble ccvwny and the 9rwp arnl of the incoming re50urce5 and application of rtsour¢e$. Including IhÈ thrme aTrJ e>penditure. of the tharrtabk ctywany and 9roup for Ihai period. In preparing these financ slaternen15, Ihe Trustees are required to.. Setect 5Uitabl? accounting p)15 and then appty con5i5t8nty,' obseNe the melhods princws m Ihe Charits SORP IFRS1021: rnake judgrrents ancl e5tsrnate5 Ihat 3r• rva50nabl• 3ndpFudent". State whether aPplb UK accountiThJ standard$ have been folb?. any materi81 departu$ disdosed and explained in the financial slalerrents, prepare th8 finanoal statets gtyrwj concem il ts inaFyropriate to presu that the charitable c(ryany will Continue in business The Trustees a sponsie for keepin9 adequate a¢¢ounting re¢or<ts that are 5ulfioen¢ to show and explain the charitable pany'$ tronsa¢liw5. dr4¢bse wrth reos¢nab ac¢uracy at any b"rT financial positK)n of Ihe tharilab company and enable Ihern io ensure that th8 financaal state[rts c£ryly with the ConVan Aca 2C#X oThJ Fwvk8ion$ of the Charrt$ strfution. They are also resPOnbIe lor safegua• the assets of the chanty and the group and lnce for taking 8$Onable steps for Ihe pveNtIon and dete¢tyon of fra1 arKI other irwulaiitss Th"5dosure of InfofftLaticfi to Auditor5 Insofar as each of the trustee$ of ¢harrtable ¢ornpany at the date of aPPTo¥al of Ih15 report is aware there is no relevant audit InfOatIOn. jinformation needed by the charty's audilor in connection wilh pwriNJ the audit report) of whh the charty'5 auditor is unaware. Each trustee has taken all of the steps thal helshe shoukl have laken as a trustee in order to rnake him5elflhvr5elf aware of any rel8vant audit informatson io e51ablL%h thal ihe chantys au(k'ior is aware ol thal information. srd on tehalfof the Bowd VAler¢ Etleb L VA4Ua•t-OBE Vakne Ellen Le Vai118ntOBE. Trustee Date. 3010612026 12
Contre for Engin••ring and mantr1acftng Excellence Limited Indopend•ntAuditorn' Report Oplnl( We ha¥e audited Ihe finan(ial statewents ol Ihp Centrt Er¥Jirèrin9 ano Manula(knrvJ Exceinc lor the yew ended 31 Oecemb 2025 wlmeh comwse Ihe Consoraled Stamerf Fina111 Acti¥ib25. the GBJup and Charity 8allino Shts, the Consolidated stsmenl of Cash Pk aj noos to Ihp fin#naal ststements. indudin9 a summary of significant accountiw policies. The finan81 reporting fran01 that ha5 been ap[Ad in Ihey pRparatson ts appkable law United KJ¢) Accounbrvj stsndards. Induding Flnanoal Repothng SiandaFd 102 The Finana RepDrfA slaThJa aptyab the UK aTrJ Repthr of k?1d IUrMtsd Kirvjdom Genw81ty AePted Accounbng Practi1. Ownion on financlalstster In tyjrownion the financi teffen ' gi a true and fair Tr&iew of the State ol the sYDup's arnj (rtab 8ffaYs as ai 31 Oecerrthr 202S aTrJ of the group's InurnirJ resourrs and applicaiKffi 0fres0uT. illi1J13 ts IrKon aTrJ e>ThJItU1e. for the sarb)en ended." . have been property pr8par8d in acCOrd•K¥11h Unit•d KiThJdcffl Gener¥tyA¢c8PtodAc£•unlw)g PraL2Ke.' and . ha¥È been ptypared il accordancewth the iequirements Of CompansAa2W6. BMIS lor oplnlon We conducied our 8ud# kn 8c¢wdanc With InterThml StsTrJards w Atyting (UK) (ISA5 (UKII and applir¥ble Iw. Our reSpS•bilS under thotse stsndards are fijrthet des¢0 in the AtorS ¥eSp0n>knles for the athlit of Ihe finanaal Statents sethon of our report We 8re 1Trlependenl ol the grw In ac£ordarKe the ethal rpquirement5 Ihal are to our audit of Ihe fianrial statempnts In the UK. including the FRC'S Eth1 Standard. and we ha frjfiled OLW other ethical SponblIS in accordance with these requirements. We bel1 that the audrtevklence we ha obtained is 5uifMxnl aTrJ apwopriate 10 prOJe a ba515 for our opMion. Con¢t81on8 rolathg ¢0 golng ¢onurn In auditing the financial sterr11ts. we ha% conc&led •wl tyustye's w ol ts govy b4515 of ac0)url¥J in the prepara" of ihe finaDc4al slaMentS is approptiats. B8sed on Ihe 4¥e have pertomied. we have rK)t klentiFed any material unrtaIS rdaliry to or that. indi¥hlualty oi coIIEthwely. may easl $vJnificani doubl on Ihe tharitable u)mpanY$ or Ihe group's abqty to c4nknue a$ a goirvJ conr£m for a p2rK)d of 81 least 1ve rnonihs from when Ihe financial siateTrents are authofised forissue. responsibiltie5 aThJ the re5pon5ihli25 of IhE trustees with respEd to coreM are Oesutsed in the leY{nI seLcns ol this report. othor informlon The trustses are re$ponsible for Ihe olher in10Tran o)ntsined within Ihe annual leport The Olher comprise$ the infonnaiion tncjuded In the annual report. alher than Ihe finants81 siarements ana ouralit$ report thereon. Our opwiw)n on the T301 stakmenis doe$ noi coutr Olher informatiw and. except to thrIse typlirily slated in reporn. we do-NJl Bxprts$ any lom) of assurarte conclu$irn thErton. 13
Centre for Engineering and Manufa¢tuiing Excellence Limited IndependentAuditors' Report In rA)nneclion wilh ow awjil of the fin8ndal siaiemerts. our fe5ponslty is io r• olher InfoftnaM and. In dokig so, con$ider whether the infornation with the finan(>al $tstements or our knowlEdge obtained in the audit or 01heiSe appears to be materially missiaied. 11 v4e Kyenbfy such Maal ¢0$eLs or appartrrt material missialements. we are required lo detetmine whether Iherp is a m8trFial mts5rament in the fir4noal a maienal ftwsstaknn& of the Dther information. ff. based the wort v•B have Perfoed. we concle Ihat is a rnalerial mtststhmeni of this olher we a TeqJired to report ihai fact. Wè rthiry to report In thls R9arf. Oplnlons OD other matbrn prn¥¢Ylbed by th• C•mp•ni•6 2006 In our opinion based cn wotk dertaken in the tyJue of Lwr aJrt . The infom8bon ITh the repNt ollhe tnjstees the repon prwred ftythe pu0e$ ulcompany lawl lor th¢ finanti4 >tar forwhth fmano stateme5 are yepared c55187th fv fmanu•l statements". and . th8 ithwtors. report lir1je I$e$. iep¢yi ha been wep¥ed in a¢{tyéanMith applicab IEgal rg4uYements. Mattern on which ar• requirnd to rnport by•xreptThb In the light of tht knowledgt and undeniaTrYir¥J ol the chartabbE oThpany aTrJ ts en4irwrneTht otytsined m Ihe course of the audit. haye noi vJentd maal Msments ) the weportof the ttusiee5 (wlKh rKotPLYate5 the strategiE rEportand the direaors. 18porti. WE have rhlthir¥J to report in rEspect oflhe (altrTry maltws r•l4tion the Ctynpans kt requtres us ty re to you If. in owtspmiion" adequate and 0P21 acivuntin9 record5 haNE nolbeen kept". or e financial 5tatefflents are not iri ayreefflent ilh the acco and rm5.. Certain disdDSwes of bustees. remunerab.on spea by are nol made. or we have noi recryed al Ihe and eW•n8tionswe loTtyjro Ihe trustses wei¥ Mi enbued 10 Ptpe finanL¥al skme•ts wilh tr smaii LyJfflpanRs' fegime 4n¢ tske advantage of sm811 unwans' exeftwtrth in prop8rwwJ trtruses' lew1 aThJ from wuémentto prepare J strategic report. R•sponsi&ti•s of lvust••s As expl8Aied more fvlly in Wv4s' iesptyithihbès Stat•))erf sei on p8ge 14. tt trusieES are abD the directors DI IhE charitable company for Ihe pu05eS ofcoTrpanylaw) are spOnSib r(K the pparat)n of the fm8no aments and for bein9 sattsfied that they give a trL and faw wew. ano lor such inteFnal control a5 Ihe Iruslees determine Ks rE$•ry fv en8bk8 ts prep8raiion of ffiancA statements Ihal are free f¥om malerial mwlatem2rtwhelher due lo or error. In preparing the finanoal $lalements. th• resp¢n$1bl8 assvssiThJ Ihe (haritswe C•Mpan$ ability to CDntinU2 as a going concern. disd051rvJ. a5 applicatye. matters weIe{l to griThJ ¢ern ung grThJ ¢tylrn basts of accouni¥io unless th? trustees Int¢nd lo ¢hg tharilablp PanY0rt C44¢ QFWaW. or ha% r• rBalsty"G 4tternati%t bLAlO do 80. 14
n¥prwlblltlqs forth• audlt oflh• lknanGll Our obiectt¥es are to Obl8 asonae a$swat abo W¢her the fv)ano81 sialement5 as a are free fvoTr m8ten81 M5teMen1, wntrlher due lo fr8ud or error, and 10 ISS an aLKIWs reprxl thai wYJde$ ow airinbjn Reasonable assurance 1$ a hh level ol assurance. bul is noi a guarantse iThat an 8Jit O)Thlucted Al accordance with IS4s IiIKI 11 aayS delecl a material mi$stslement when it $ts. Misstatsments can arise frofft fraud or error and affe oysAJereo maieri¥ rf. indNkYualty u in the aggregate. Ihey could reasonably b2 expected ¢0 infiueno Ihe e¢ortorrMc deL?sv)ns olusers tsken w thE lsleSe fffianrial st8ten%nts lffeguthnti, Induth'ng fraJ. a in5tsnts ol non<ompl4qnce with arvj wulaix)r6. We tksgn wt¢eOus in line with our re5ponwbilitie$, tyJUirtd above. lo deted material misstsftwts in rÈspeth of Irye9r85. fraud. The extsnl lo whKh our . yocedtsres are Capab ofdetetting irregulari. indLbJwHJ fraud is aetaW bEfrrtv. Based orl wr under5tandMg of the charitabfe rwany and the en¥ironTnent in it Okl8tes. we rylenbfied Ihp princpal risks of non- rnplian£¢ wAh law5 and reyulabons and we conside¥ed the extenl to whKh non-CoMla miht have a malerial elfed on the finawal alements. We also considered those law5 and fe9uktiolls Ihat Na¥p a dirEd wnpaLt on thè preparabon of Ihe finanual51alents SU ¥$ Companie5 Act 2006 an¢J Ihe CharibE5 Ad 2011. and tOJered other lackn5 suth as GDPR. hEatth aTrJ safety $29¢51ation. lax leg1sIKl and employmenl legislati. We evaluated mana9em8nfs inonti%u arwy for traLt m)10n of its finanr•l siaiements the ri8k of oVerrJe of Contr$1. and delenrdned Ihai ts pyyial kS were plakd managenwt o%%rrbJe of and r¥)mpbthn8s$ and off income. Audit pr¢c•dures perfomw bythe ertyagemenltearn wbdwjed. thsajssions th fflaTrag¢m¢nt InchxlY4 cwsi1eral af knuwn or suspecwi NLstsrvs of th 5 •nd reguon EvahJating mana9emeni'$ Contrds des¥Jned 10 pient detefA IN89ars. Idenirfw'n9 •nd tesling )n•[s. rClariOUm POS0 unuJ81 aonI crff binats"ws. postitys ty uwsual users or V41th unusual desrriplons.. and ChalThJiry as5umpbons w198ments made byffl4nayQnt ki thwrual acrwnng estima$ Because ol the uiherenl hmitatn$ of an 8jit. there is a rth that we wil rKJl éetea all irTegulaiitie5. (jd1)g those le8dJng to a rnaterlal mtsstaiemet)l in Ihe financial statements or n-¢KnCe wlh reguL411c. Ths risk inrJea5es mtye Ihal Compliance wmh a law or regul8lion k% from Ihe e¥eftts aThJ trlS relleded in ts financial swtefftents. as we be ss likely 10 beco aware ol ins¢ar$S of non-complMnc¢. risk LS atso greaw regarding N[egr8$ due to frd lather than wr. as fraud vN015 intenbonal conra1Tr2nt. for9ery. tollwn. orniwon or mNÈpresentabw. A luflher des¢ription ol our respon$t4hls fw Ihe alit of the finarbual slalements is localed on th2 Rerx)th9 Council's web5e ai. W•#.frGor9 uklauditorsresponts"lities. Ths de$rpkn forrns parf ofowawlitrf$ fewrt Use of our report Th18 report is made solely lo the Charilab o)mpanYs member5. as a l)TrJy. in accordan th Chapler 3 of Part 16 of the Companies Ad 2006. Our audit work has been undertaken 50 thatwe mwhl state lo fv charltsb cornpanys Thembers those matters we are required to slate lo Ihem In an Audrtorfs report and fN no oiThei puwpost To ihe Iles1 eAtsnt pe11181 by l¥. we Oo rK)t Ip1 or 8$6Urne responsi)ility lo anyone other than Ihe charitab tJJmp¥ny and the O)Thwanys mem1$, 85 a body. for our 8rt WOF1t. lor this report. or for the opiniofts have fryrrd. Rithard Weaver Strnior StatOryAlJft0r For artd on bette0[ Haysmac LLP stalory Aulilor 10 Queens Slreel Plac* LoTrYon EC4R 1AG Dai8.' 0110712026 15
Centre for Engineering and Manufacturing Ex¢elkn¢e Limit•d Consolidated Statement of Financial Activities forthe Ytar Ended 31 DKernber 2Q25 lintorporating Ineome and expÈndilui ateourrtsl Total 2025 Total 2024 Funds Funds Income from Other trading 8cIt4rfS Inwestmenl ineome Charitabl8 actyviues Skilb & educaiiM aTrJ bu51res5 Slwort accommodabon and rdated 5ervKes Segro & LBH fundw Tolal Income 2,616.163 2,616,163 54,445 2,819,092 8.868 1,768.451 1,768,451 1,714.007 176.8C6 4.61S.865 176806 4.615.865 4.643.608 ExpeDdbturÈ on Raising funds Costs on Iiquidatkin o15ubskY¥ary ChaTitable activiknes Skilts S educatKn attrnc*a1In arKJ 5UPWt 5eNice5 Skills ddivery and SineSS Tolal cosi of Charitab actty1 Total •xpandbtLbve 9Y.942 954,942 616.108 3.614. 3.883,049 3.704.278 185. 454 Yfj 185,862 41%8911 5.023.853 137.712 3 841.990 4.658.098 3614%5 4.569.307 Nat 1nc¢• {eXndUreI 1454.Y61 1407,9881 114.4901 Net movement In lund5 1454.5461 1407,9881 114.4901 RECONCILIATION OF FUNDS Total funds brou9M forward al 1 JaThuary 2025 Tol81 fur$ ¢arried for at 31 December 2025 8.598.463 8.645,021 13.169.123 12 714.577 21.767,586 21,359.598 21.782.076 21,767,586 16
Centre for Engineerin9 and Manufacturing Excellence Limited Charity and Group Balance sheets as at 31 Decefflber 2025 Grnup Chaflty 2025 Nol•s 2024 2024 FIXED ASSETS Tangible Fixed Assets Intaroible Assets Investments 22,246,399 22,191.748 54,651 22,824.172 22.786.570 35,602 22,247.399 22,191,748 54.651 1.000 22,810.585 22,773.983 35.602 1.000 12 13 CURRENT ASSETS Debtors 1,712 387 512,319 2 094 953 598.381 1 712.387 512.319 15 598,381 Cash at bank and in hand 1.496.572 1.2CQ. 1.495.572 1.2(X),068 CREDITORS: amounts falling due wlthln one yoar 16 1.843.050 1.894,648 1,843,050 1.894.648 MET CURRENT ILIABILITIESI 251.9Q3 1182.2611 251.903 1182.2611 TOTAL ASSETS LESS CURRENT LIABILITIES 22,498AD2 22.641,911 22.499.302 22,628,324 CREDITORS.. amounts fa51ing du• aft•r mor• than on• Jvar 1.138.704 874.325 1.138,704" 874,325 Net Assets 21,359.598 21.767,S86 21,360.598 21,753.999 Funds ol the Chity Unrestrtcted incom8 fiJnd$ Reslncted inccwne funrjs 20 21 8.645.021 12.714.577 8,598.463 13.169.123 8,646,021 . 12.714.577 8,584.876 13,169,123 Funds of the Charity "21,359,598 21,767,586 21,360.598 21.7S3.999 The notss on pages 21 to 33 lomi pwt of Ihese finan0 statement Company Registration Nurnber". 04238862 The net result for the year reFQrted th1Th Ihe financial adMtie5 Qfthe parent charity was 8 defiot of £407,98812024.' deficit £14,4901. Apwoved and authorised tr i$5ue on behawofthe BDard aThd snEd on their behall by. YAl•r( L VA¢Uartl-08E Vahrie Ellen Lè Villant OBE. Chair Dts•: 3010612026 17
Centre for Englneering and Manufacturing Excellencè Llmlted Consolidated Cash Flow Statement fr>r the Year Ended 31 De¢ernr 2025 202S 2024 Cash Ilow from operating activities: Net cash lu$ed inllprovided by operating •ctivities Cash flow from investing activities Dividends, inlerest and rents from investments Purchase of propety, plant and equipment Proceeds from sale of plant and equipment Net cash provided by lused inl investing •¢tivities 4C(1,1 S6 718.120 55.519 1366.9171 2.320 86.438 8,868 11.237,9141 512,061 Cash flows from financing activities: Repayment of borrowing Finance aSe Interest paKI C85h inflows from new borrowing Net cash provided by financing activities 86,984 1145.wl 269.046 210.066 {295,9031 {147,8201 765.082 321.359 Change In cash and cash equivalenls in reporting period 296.504 {190,7021 Cash and cash equlvalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period 1.2fy).¢X8 1.390.770 1.496.572 1.200.068 2025 2024 Note 1: Reconciliation of net lexpenditurn) to net &ish flow frorn operating activities Net lexpenditurel lor the reporting period las per the statement of financial activities} Adjustments for.. Depreciation and amortisation charges Finance lease Inleosl paKJ Dividends, inlefesl and rents fr(m investsments L055 on the sale of fixed assets Decrease in debltys IDe¢reasey Increase in cltorS Net cash provided by operating activities 1407.988 114.4901 942.370 145.964 154.445 12.3201 186.1%2 137.363 400.156 868.995 147,820 (8.8681 1.135 192.5181 183.954 718.120 18
Centro for Enginooring and Manufa¢turlng Ex¢ellence Limited Notes to tho financial statements for thè y•ar •nded 31 O¢ember 2025 1. CHARITY INFORMATION CEME is a cornpany limited by guarantee Iregistered nL4nÈer 042388621 which is IncoOI31e{I a1 domiciled in England It is a150 registered as a chanty thè Charity Commission {registe numter 11333961. The add$$ ol regtered offKe is CEME Carnpus. Marsh Way. Rainham. Essèx RM13 8EU. I ACCOUNTING POUCIES 8aslc of accouniiny The accounts lfinanual statements) have b8•n prnped under the hi8toriGIl cost convention in aCcan 1th the Charities SORP IFRS10218pplicable to charityes preparing their accouThts in accordance wih tho Finanoal Reporting Standar¢J app"¢able in the UK and Republic of Ireland and the Companie5 Act 2(K6 * UK Generally ACpted Pra¢bce as it applie5 from 1 January 2015. CEME Limited meets the definib of a pulJi¢ effi1 entity under FRS 102. Assets and liabiliti85 arB initialY recognised at historical cost transacbon value unkss otrThbise staknj in Ihe rdevanl accounb"ThJ poliLy notelsl. The FinarKial statements of CEME Limrted and its sub$KJiary rxjmpany a consolidated, on a line-by-line basis. to produce the Group finantial ststements. The consolidatsd enbty is referred to as'the Group,. In accordance wth seth.on 408 of the Companies Act 2[X. no indivi(1 statement of financial Activitie5 has been presented forth• parent rnpany, Centre lor ErvJin8erirKJ and ManufacturiThJ Eller Limrted Pr•parntion of Accounts on a Golng c•rrt•m basis After making apprcpnate inquirie5, tru5tee5 hav8 a r•asonab expe¢tslion Ihat CEME has adequate resources l$trong cash balances) to contsnue its operabonal eXtere for I0Seeable Yutur8 in the casts ol any dec11r in demands. Vve believe tha¢ there are no matenal unrErtainties that casts doubl over CEME'S ability to continue in operaiim. The accounts ha* therefo been wepared lh& basis that CEME sabsfies the grmng concem as$urnpts"on. W• ha 581 out ill th• Trustees Report a of frncIal perforMar?. the charty's re5erve5 position and the management actions. We beIve Ihat we have adequate finanoal resourcE5 3THI are well pla¢•d to managè these economic risks. Our immediate planning pror25s. induding finanaal proJecbon$. has taken into con5ideratson the ¢urr?nt economic dimate and uncertainty an(J its potenb.al impaci on the various sour9 of inwie and planned eypenditure. The directors, having considered G8sh Itows. income stream$ and alaIN)n5 b119 that CEME ha$ ad8qLtat8 resources to continue in opefational èxstènce for the fornseeable futu. The accounts ha¥e thèrelore prepared on the basis thal the charity is a going nCern basi5. Functioftal and Presentstion currency The fvncb.onal currency of CEME Lirnited and its subsMthary rs conswJ•rnd to be pound51 £ I skding because that 15 th9 CUrneY of the prirnary econorn¢ environment in the tharity19rth4p c¢Yates. 'The consolNlated financial staternents are also presented in pound5 Sterling. 19
Centre for Engineering and Manufacturlng Excellence Limited
MOTES TO THE FINANCIAL STATEMENTS cOnnue
Ineom•
InCe for SkilL8 & Educab'on bLLsiress SUFWt. Accommctyjabon aTrJ Relale
Centre for Engineering and Manufacturing Excellence Limited NOTES TO THE FINANCIAL STATEAIENTS ¢oTrtinued Exp•nditur• All expenditu is occounled ts on art basis and has been dassid under heajings that aggr•9ate all costs rekted to Ihat category. Where costs cannot be ldY attn"buted to p8CUlar heading5 thèy habe been allocated to activitigs a basis cons1Stent wth use of re50urc8s The majority ol overheads ha teen appytiwd orn ths bass of headcount becausè that is the rnain driver of costs in Ihe char CEME initially hdentifies thè costs of rts swJw1 functions. It then Klenbfies 9)sts %thich relate to th• gownan function. Hawng Idenbfied its 9overnan costs. the rémaining support costs togèthef ith the gOVwnan c4sts are apporlrbed btheen raising luNts and thè thantable acliwbes uThJertaken {see note 81 in Ihe year. Governancè costs are o)sts assocAated thth the strategiG as oppJ5ed to day to tlay marwgement of the chantys activities. TAMGI8LE AsseTS AND DEPRECIATION Fixed assets are stated at historical cost or valLwbon lèss depretiab"on. Donated assets valued at £2,5W over arn recwised at market value a5 delernined by an ind8FeFJ8nt WdluatiL when title is passed lo CEME. Purthastrd gssèts a cost of t1,500 or oNer are recogni5ed at hncl costwhen purchased. Depreciation is proM¢ed on all tsngible fixed assets at rat85 olcJJlatsd to wyite each asset down io rts estinated residual valuè evenly over its expected usefvl lile, as foll¢)ws'. - Long Leasehold buildings and irnprovements thereto oNer SO years - Plant, Machinery and equipmento¥er 4 10 10 year5 - Office Furniture ovor 4 years INTANGIBLE ASSETS AND DEPRECIATION Intangib fixed assets a non-rnonetary fixed assets Ihat do I)t have phystal sub$tsnce but are identy'fiable arg controlled by the Charty through custody or gal rights. An inlangible a5sel is recogni5ed when il is 5eparabla or ans•s from contractual or other legal rwJhts and if il is probabk thal ts expected future eCOnorn benefits wll now to Ihe Charity. and if its cost or value rneasured rekabty. IntaTrJibk fixed assets $tyn9 mGYe than £1.5C4) are capitalised. lntsng1e assets are measu tnitialty at C05t aThJ 5Li15eou•nUy at cost ss impaimient and any a¢curnuLgled amortisation. The residual value of intangible fixed assets 15 nil wh8n caloJla*ng the charge lor amorbsab.on unless reliable evide e51$ to.the contrary. AmorbSats. of intangible fixed assets charged 35 an èxpense to the r•levant slatement ol financial activitss ISOFAI Category reflecting Ihtr use of the asset. Intsn9ible assels are amorti$ed on a straight4ine basis thwr usefid economic lives. If the useful lits cannot b• ests"mate¢J reliably it is presumed to be no rnore than years. AMlISation commen$ when an intan9ible asset is available lor usè. Intangible assets rewesents soltwarg costs which 15 amortis•d at 2/th per Intangible assets are onty re¥p•Rd for impainnenl Jfth8re arn indicatots that the asset may be impaired. 21
Centre for Engineering and Manufacturing Excellence Limited NOTES TO THE FINAhlCIAL STATEMENTS ¢onYnued INVESTMENTS Inve51ments in subsidiary oynpan ofcèntre lor ETrJinpering a1 Manufacbjriro Excellence Limited, arè stated at cost. FUNO ACCOUNnNG Due to thè constraint5 01 law donor imposed strictior the thairty Segregates ts lurH15 ten $tted fijnds and unr85tric1ed funds. Unr8strKted fuTrds represent the accumulated suwus on income and expenditure and a available for use at the discretion of Ihe Board in pursuin9 the general thariiable objective5 of the Isee Report of the Trustees) Designated fvjnds are ftjnds that have teen set asKJe out of unrestncted funds by the Board for a speofic purpose. vAth Ihe balanc constsbthirrfJ thè chantys General ReseThes. a no (lesvjnated fvnds at pr•s•nt. Where lunds a re¢wecl under contracts io run g¢Mmment frJnded proyramme5 they are classified a5 restricte(l. When the saNeè is providèd. if any surplvs arisés this beoNnes unrestricted th agreement from the fvnd prothder. Restncte runds represent income received where the donor has impose<l trictiO as to how the monies sha11 be spènd. The natu and purpose of the restricted luTr#$ are a150 set (Kjt Noie 21 to the financial statements. LEASES Where assets are finand by agreements that gi%E rights ap[lMa.r9 to ¢Mnership Cfjnance kases and hi purchase contracts'l. the assets are tre8ted a5 if ty had been purchawl oirtrghl Tr amount caprtalised is the presènt valuè of minimum finance payments payaWe dunng the finance tem). coNèsponding finance cornrnitrnents a shown as ¢)bligath"ons to the provthr of finance. Finance payrnents are treated a5 consnsting of capilal a1 intsrpst eknierts. and the intet ts charged to the Statement gf Finan¢wg1 Activibes on a 5tr3ight line ba515. All other leases are 'operatiryJ aseS. the annual ntaL$ are thar9ed to the Stalement of Finanaal Actswlies on a straight hne basis over the lease term. There a no 0rab"n9 kases at present. PENSIONS CONTRIBUTIONS company operates a defined contribution Scheme. The FenSn costs charged in the finan(#al statements preSent thè conlnbution5 payable by the Charitab company dunrg the year.
Centre for Engineèring and Manufacturing Excellence Limst•d Notrs to th• financlal stat•m•nts 2D2S 3. oth•rTr4dlno Acllvllks Renl ConfErence Ceotre n SeryKes 2.108.882 273.933 2.306.771 292.774 219 547 2 819 092 2 616 163 ¢HARITA8LEACTIVrnÉS SKILLS & EDUCATIOII AND BUSINESS SUPPORT AttOMWt>ATII)N AND RELATED SERNICES FuTther Edla}n and Apk¥entKe5 Space and Leamino Sup 8uSAness In¢ubaioTh Cenue Caieria Launchpad Training Cent 618.053 78J.427 26.299 191.510 114 132 1 768 451 64J.104 787.062 2B.50S 164.824 1 714 007 S. AAI&NG FU14DS 2025 Conference Centre suort c¢$ Space. IT and Shared SeNi¢s Te19n¢ an(1 Frdthking re¢na Car park eosi Governance costs 267.922 259. 223,658 234.947 310,556 21.502 14.449 TayabL). CEME 1$ rtyi4tered a5 a drty and as such enlOkd 10 Ihe exeryts undeT sect•)$ 466 to 493 CorpDrtIKJn Tax Act 2010. The ComnY can cFaim au VAT in0jrd except 00 run costs of 9o¥ernmeni Yed prollraThmes. These prooramm¢s arn on a r•Ul$eml basis themst oflhe Irreroh1e VAT is co¥ed by the grani fvnding. 6. SKILLS & EDVCATK)N ACCOIWODATION AIID SUPPORT5ERWCES 2074 Direcl costs Deweoalon of buddkng and fwn¢MvJ assei knfra5truc Suppm c051$ Gpwrnan costs 2.469.742 662.056 696.3PO 2.361.219 662.056 629.352 3 883 049 3 704 278 7. GOVERNAN¢E C0S7S 202$ 2024 Fees paY¥e the group¥au(Ilors iirthe ol the group's annual accounts Fees payable the group's au(kn th)rolherwcrfk 24.(JO 22SOD Taxation fee Yatr1e Mi respect olthe substhary Twsiee exKnses. rerJuitmenland insura4 goard and crllmittee 5UPPtsrttost 3.805 47.835 76 24 1 TTrvel exknse$ incurred trrf TDtses in fesped CEME anxKwrted 10 £2.IJOO P024.. £2.2891 the r. The number of Trustse$ receThfMg expense ranbuts*wn¢ ¢JurwvJ the ar w8$ 312024." 51. Tnkstee Yboemnity inswae o)st £1,68912024. £1.5161-
Centre for Engin8•ring and Manulacturing Excellence Limited Notes to th• ffinaneial statements Key Management Peraonntl 2The key m)agemeni chwty Cpr¥etrSIeS. Chef ETeoJlp FinwK ts"rectr. Execulp48 Offectus Ire mUrtl in that thjer CEPs ffle1 and arlKles of as50cialk Thes8rx)sts roflgct thEP8yand Trjn pay c45ts oflh2 CEO FMw)¢e pWarat forand atte18 al Injstse meetings. and fv pay and pay LYJ5ts DI NL ExeoJtive Dredor5. Valerie LeValL4niwas paKJ £15.450 rAus a of£1,(¢ &y hw ser¥tÉS a5 a {202¥ Saly£l5.225 Pension £9901. A rton execubvedKector. Dr RKtiard Hvichins (fiA Ra•Jdon (saI. was pawj £S.tW fty wformitvJ Ihat ra¢2024. £4.0001 PaymeDts ty reXecu10 dupdor5 are made alnty01CEmE.S mwwarKlum and ariths ol a55Lx1aiw. personal m8naoemert remunera1 as lokn¥s". pay £241.946 {2024". £226.7311. £17,268 12024". £14.7381. emplwtrs Nl £41296 (2024. £37,352} and QthefLefft £6.LK¥J {2024. £6.OCO) S re 2024 È66.467. 8onus ryued 2025 £72,04012W24." £86.8661. & TOTAL EXPENOITURE Support C051s Total 2025 Cost HR 11.789 fijrrfjs SkilLs & en aM¢>Ja nd supput servKe5 Skils delwery and wpF¢ 6n.633 146.310 101.867 21,343 954.942 3.131.798 185.862 3 997 293 391.920 272.872 31.578 54.881 3,883.049 185,862 5 023 653 374 739 2024 R$n)g funds SkilL% & edycation 4xM0d•fy And support serv$ delwery and lnesS wpFxNI 816.108 3.704.27a 137712 . STAFF NLWIBERS AND COSTS The avernge monthty numberolFersws eX5}•Plyfftj bythe (partYdU the year w85.. 2025 2024 operan$ 17 Support 22 22 2025 2024 Wage5 and Sakries SrKkg1 sewrity costs Olher pension costs 1.142.459 137,492 64 132 1.058.314 113.598 1 230133 2025 2024 No. £60.001-£70.000 t70.001-E80.000 £80.001-£90,000 90.001-É100.000 É200.001-£210.000 E220,001-£230.OQ) P¢ns>Jn5 Mntributns rnadE orb beThalfolempW eirj li ext4ss of E60.fyJO £28.11S 12024." E26.880}. The groupoperntes a fined coniritvj1t pert S¢9. Trassets offv s¢8e hehj separatyfrm fvse ofthe up in an iTr3eKTrYenlty•Ymin4swed Tho [7£51harUt reWese5 at48 by the to I fund. 24
cen for Engineerin9 and Manul•cturing Excellenc• Lirnitèd Notes to the financial statements 10. RELATED PARTY TRAMSACTIOWS In ts)È LX)inion ofthe the were ried parofCEME.. k•dtsCurVanY,.Ha1w Co¢ol FLthr ano HY4nw Educat. Barking Dagenh•m London B(YOW rfa. #nd Lc¥Jt tvekJpmenlAyncy. CEME Iransacled Trth the reilted p8fls durry Ihe ara5 I¥5". 2025 Grou 2024 Group Regeneration wogrtmme funthry.. Lon¢Jon Lknbpment encY F¢vtscthies renw aTrl provisth ofc(we¥eThs tyth8 rw." Ford MoJr Compar)y L(knn Borough ol Haver Bthing and Dagenham Coh FN gc¥)ds and ser¥Kes bythe Grwp. Ford IAolDr Compary London Borough ol Ha¥eriw Barting Daoenham Coleg8 FL¥ and Ser¢5 proe V) Ihe Grtyjp.. Ford MoJr Compary The baL8ii¢es lowed by) Idue the Grtyjp 31 Db¥ 4¥ere Ford 0r Comparly Bathng tbynham C• London Borou9h of Havenng Ha¥ering C4loe 84.614 70.512 29.518 49.863 233 15.2141 The fire oflhe rekiltonships Wih path5was askYkMs." eorough uf Haver¥)g Ruht ofapprovai to Je$ in CEME'S StragpI8n 8ThJ corKate ucwre.' LcMlon D8veb)pment ThEree no rtKqted psrty traD5actiuns in 2024.Keyfflwe IKIIPI Tw51ees expenxs rmer)n th'xhxed in notss 11 and 11 resp 11. NET EXPENDITURE 2425 The etexpendiUr0 1$ 8iai•J after charg Fees payatrA2 blhB charivs audkn5 forthe audit ofthe chty's annual 24.OLKS Fées payatle 10 ts chanvs a11$ forihe 8u¢Jrf oflhe chty.¥ pur5uani 1¢9110 Totsi audit fees laxalion lees forlhe wb5Iiy Total tees pay 24.OCIJ 25.000 450 Grnup h•rlty Charlty 2025 2024 2025 2024 (kpreci8lb)n oftsngib frAed assets ortisalion of InWngib fL¥ed assets Rentsl tl)Sts relIng to ijpeiaimg ases." Photocopy machines (Loss) on dpos olfw&J assets 928.482 15.888 2.755 12.898 1.123.252 15.688 2.755 t2.898 25
C•ntr• for Engineering and ManufacTing Excellencg Limited Notes to the fin•ncial staternents 11 TANGIBLE FIXEDASSETS Grou pi•nL Equyrreni Tolal Buiklings 1 Jawary 2025 Addltions 5PD5a 31 Der2025 36.523.031 12.915 7.355.091 319,035 392 860 43.878.122 331.980 392 860 43 817 242 36 535 976 D•pwlatlon 1 J8twary 2025 ¢h3rge in the y 8posaL8 31 December2025 14.942.548 71a.913 6.147.C¥J4 207.569 390 $40 21.089.552 926.482 390 540 21625 494 15661481 Net boo value 31 December 2025 20874 515 33 22 191 718 31 D8C8mber 2024 21 $59 S39 22 788 570 PiAnt. Equwl and Totsi Buldings Ctstst l January 2025 Addil?ns DLsposals 31 cCentsr 2Q25 36523.031 12.945 7.143.734 530.392 43,666,765 3.337 392 860 43 a17.242 36.535 976 D•prt¢i•tioth 1 January 202S Chtye in the ye8r LY4posaLs 31 t)ecember 202S 14.042.54 718.913 5.950.234 404.339 20,892.7B2 1.123.252 15 661461 5 964 033 21 625 494 book valu• 31 DermbEr 2025 20874515 1 317 233 22 191 748 31 Decemtr2024 21 559 539 14444 22 773 983 The retbook vueolF4¥t and machirwy É1.105.697 {2024.. £2.148.869) in rEsPt01¥ssets uThJer fffla ase5. Theep. n char9e on theseassets wa5 £157J05 {2024." £124.3391. The bThJ asehold buikjings are LX)n51nKIEd 8$ed by thE F(¥d KJ)r Comp•ny LwThied to The London CvdDpment Agency (see aL80 No 121 and sutfrt by the LL¥lon Agwf Ks * Centt aThl Mènuknlur Excellence Lld IceMEI. The ase a1 Ihe Su1$e expwe Ihe year 2127. In Use ty CEME aTrJ fts subsary CrpanY * OFere acbwEs sh as the I)fere cenwe. aThJ the Gatvay to Skilts Centre. the propetya55els are th?der oFuating ase a9reements aTrJ srt term reThlaLs. Al the Assets (yiirwj byCEME Eniwtse have been lAth$j CEME Ltd NBV NI.
Centre for EnginÉ•ring and man3¢ring Excellence Llmiied Not•$ 1¢ th• finaneial ststements INTANGIBLE FIXED ASSEfs and Ch4rtyl Cost l January 2025 Addthon$ D8posal$ 31 December 202S 71.662 31.937 D•pro¢&tn l January 2025 Charge in the year Di5rrt)saLs 51 December 2025 43. 15,888 book vlu• 31 December 2025 31 Decemter 2024 35 602 13. INVESTrIENT5 Group Ch•tity STr$ grtyjp UJeftngS 8TrJ parlry31ry iThre5ts In%strnent wbsv3ones CEME wn$ 1QO% ol the shares OICEME Eniww Lk1. 14. TRADING sUBSIDIAEs exp8ndrfts ofcEME befo corffjokla¢wn ofthe subsKthas£N4 12024.. E Ndl. The reN$ fc¢CEME Enter[tse LkThited number071159231 téknv. CEME Enwprise runs tr conference centre at CEME. Nel lk7tslit ofthE tLknpany wert £Nl2024." £ Ndl 8i>w 1. 2025 2124 Ttttsi inco¢r Govemmeni grant Cost of 5ale5 Gr05s ProfiVIL05sI A[)118bon costs Interest receiv8b Loss ta¥alb)n 114.587) 2025 2024 Fiyod Assets Tangl?A$Sets 14.507 CwreThtAssets Debtor5 PrEpayThenl Cash al bwk a1 hand Crfjditor5'. cltS t•)?ar Cre¢itar5 Nei Cuffanl L91leS TolAsSe1 Less Ctsffenl L.•¥ Nei LNgtslileS Caprtal and Re5w¥e She CaF¥lal Ratained Eaming- 27
Centre for Enginwing and M•nufaeturing Excellere Limited Notss to the financial staternefits Gwow 2025 2024 2025 Z024 1& OE8TORS e within C ar.. Tpde deblors ounts (pwed by group undertar¥Js oth debtors and prepay1 84.127 161.795 84.127 161.795 514.254 598.381 350.524 512.319 514.251 598.381 350,52 512.319 CEME Ltd has sed an oyenhft lacLrfEIOO.(YXlYTh B¥days tnk. Ths isserA1 w rt deb$. Gffj Charlty 16. CREDITORS & LOAN. ' •moiiDi• l•llng du• wlthln ohe ytar 2024 2024 Trade ¢ditorS Deferred Income Obl&ètrr undefffinanc8 ase htre putha5e 550.736 543221 95.831 . 550.736 543221 95.831 214.822 104.123 16fj.401 66.779 214.822 101.123 1e6.4Q1 66.779 Loans AMnts to gmup undertakn.S Othwtsxes and sfojiity 81.155 691.914 1.643.050 67.889 954.527 1.894.646 81.455 891.914 I,B43.050 67.889 954,527 1.894.648 rnEfiton defÈvrtd Ih¢om• {Du• w6th In on Ya¥) GIlp Chu 2Q25 2024 2025 Defeed Wyhtfun¥anl Realised during ihe year Oefeffed dunng Ihe )wr 384.803 384,803 11.10).4701 11.1W.4701 1 258.818 332 670 125B B18 Grnup Ch•rfty 17. CREDITORS & LOA14 .' amoiiiiis aftev movp one 2025 2024 2026 2024 Defe oblya5 undefffinan wrchase B59.979 278.725 826.542 47.783 874 325 859.979 278.725 826.542 47.783 874 325 LO8n5 Tolal¢rethtors dye after move than 1 C108e le8sirMJ Ltd h)3n term$ we 5 >w¥Jilh ts knt pa1 OLI 2025 ata 11.42%
Centre fof Engineering and manufaCnn$ Excellwica Llmiied Not•$ to finanei•l statèmènts Group h•vKy 1& COAIMIThlENTS UNDER OPEPATIMG AM> FINANCE LÈASES 2025 2024 Futu MUrn opernting le•¥¢ pa>wts •eas Plwrtand mathinery. -Wthin one year -Betrn and fi¥eyears 10.462 11.158 38.227 10,482 20.964 Fu•Jre mM lonCe l¢w as Gwoup Ch X25 2024 Jlding. Fwniture. Pl•nl 8Tr1 machinery.. -Wthin one year -Bethen onfy and fv¢ yea 214.822 859.979 166.401 826.542 214.822 859.979 166,401 826,Y2 The Landon [)eWerrt AgwKy NtIl L•yJ (¥)Tthh the CEklE Centre0feI2neÈ LNI a 125year kn8to CEME * a WPkWTlX)m nt 8x¢hJd85 the Irm¥akn C•ntrE and exFrfes frrt The London De¥eWnent Agw renti1 Ifvwxfawi Centre a 125aSe kn CEME at a pepp&¢ reni. Thi& lease exwes In maFE than 4yes. 2025 24 202$ 2024 19. RENTAL OPERATING LEASES The fvrture minimum kna5e rental Incrffle duEfit lenjnts operatsno le35es ai•a$ k4kn8". -nc4 L•terth8n one yeai". 4aterthan year and ncl krlhan ¥ey 4aterthofb fve years". 2,574.784 1,011.589 3.015.5Z3 1.092.176 2.574.784 1.011.589 3,015.523 1.092.176 20. STATEMENTOF FUMDS Èxppndltur• lJ•n25 3100¢ 25 Unresificied Inco Fund5 General ndS 8.59B.463 4.615.865 14.%9.307> 0ffi45.021 Re51rictEd Iram& Fthds Toral 13.169.123 21767 586 454 546 5 023 853 12.714,577 21 359 59B 4 615 865 2024 C)mparnth• 8ai9nce 31 Oec 24 l Jon24 Vnre51rithed InL¥)me Fun¢ts General ndS 8.158.407 4.643.6QB (4203.5S21 8,598.463 Restrided Inc4Jme FS 13 623.669 21782 076 13169,123 21767 586 4 656 098
Centr• for Engineering arKI Pknufaciurin9 Exe•lIen Limiled Notes to thè financial statements 21. STATEMENT OF RESTRMED FUNOS IrKrn Expend1 Blnc• 31 Dac 25 1Jthi25 Captsl and reu0 ofthÈ Gaivwav 10 Skls Centse Ca818nd revenue costs ofthe GalÈWay for Bu51nt5s mran)me SRB 5 Caplal. Dekny rth, SRB IT CaWtsI' DYI, Infto¥aii¥e Clusters Fund LOA grant for erection ofrAmpu5 and acquthth)n ofkacnryi eqviymt ERDF obcVelI LSC Capital, NTI Capital, Oepartment forCornmuThbes and LO¢ Govemmeni HSSMI. 36.812 11.136) 35.676 14561 14.083 3.093.788 {107.9231 2.985.865 583.933 2.270.992 486.930 3.355.199 2.3S2.975 (81.983) 117.6001 1117.084) 3.In.283 2.095.989 566.257 417.593 9.3S8 (73.116 119.7531 114.4291 2.022.873 $46.504 403.164 9.3S8 13 169 123 12714577 1 Tbese grtsww8 lo the c•tsi intra$¥USeknt¢ry5ts oithe ceme pus. 2 These grants were yovkyed eqw) Ihe Gatewa¥ to Sklb EdLKakn centrt. 3Ths 9ranl wa5 prD¥d to equip the Galeway kn BUSI¥% SLWM 4 Thls ¢r8nl pro¥AJes funding f¢v HvJh Sreed &Jslain M4nufaduriThJ Instiiute. HSSMI ks a dmsion of CEME a wrwso ofconduciw ng ed9È manulluM4 wth ) am of iMprovM¥J eff¢w ofmanutscturws and su thn wmpanies. The temapNlw ¢Y£9,358 t POAY b HSSUI wce CEPAE requesl. AMlysl$ ofnrfa8uts b1th lurtd¥ Res¥icd UNestr¥#8d FU Toi81 Futyls T&Ib fixed as lffltangiNe fixed assets Cutrenl assets Current IKgbihl5 Cli10r5 fallirfj dueaftu sear Al 31 Der 2024 12.705219 9.486.529 54.651 2.085.595 (1.843,050) 1 138704 8 645 021 22.191.748 54.851 2.Q94.953 {1.843.0501 1 138 704 21 359 $98 12 714 577 Cornparatfvg 2024 Analysls ol net ts betwwn fvn red awts Intanoibk fixed 85sets Cwrenl assets Cwrenl lbilits Creditors faihllg thJe after c•>ar 31 2024 13.159.765 9.628.805 35.fA)2 1.703.029 11.894,6481 22.786,570 35.602 .712.387 11.894,6481 674 325 21 767586 9.358 13169 123 8 598.463 Z2. CONTROL CEME ts undtrrihe c<¥nmon cth)tyol of MotN Cty)wy. Hawiw C of Further and HvJher Educa¢on. Bart#Yd Denh8ffl Ccleoe and Londcffl Btyowh of HavenTrJ. The crryTrYs Ale5 ofAssooknn trdted 2 January 2010 stale that eath ollhe abo¥e a meThbErofCEME.
CÈntrè for Enginèèrin9 and Manufacturing Excellence Limitfjd Npts$ to the finan¢i•l $tatèm•Thts Total 2024 23. COMPAPATIVE SOFA BY FUND Fum INCOME Intomt fmm 9•¢•d funds Oiher trading Inveslmenl mcomp In¢om• from charftabbp actfvttbES Skills & education and busuiess supp)rt accommodan and 8er¥l¢e$ Segro fvndirvJ Total 2.819.092 2.819.092 1.714.(X¢7 1.714.iX17 4.643.608 4.643.608 Expenditure on Raithg Jr ChaIrfab AdMts Skills & edu aCMOal1 and support 5ennces Skills delivery and bjgness gJFwrt Yotsl expendiiure 816.108 816.106 3.387.444 316.tsJ4 3.704,278 137712 454.Y6 137,712 4.658.096 4203.552 Nel (expenditure) 440.0 (454.516) 114,49)) RECONCIUATION OF FUNDS Total fundts bityjghi &)rward al 1 January 2024 Total funds Car *)rward at 31 December 2024 8.158.407 13.623M9 21.782.076 8.598.463 13.169.123 Z1.767.586 31