CHERI ALLIANCE C.I.C.

Company limited by guarantee

Company Registration Number:
15516512 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2025

Period of accounts

Start date: 23 February 2024

End date: 28 February 2025

CHERI ALLIANCE C.I.C.

Contents of the Financial Statements

for the Period Ended 28 February 2025

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

CHERI ALLIANCE C.I.C.

Directors' report period ended 28 February 2025

The directors present their report with the financial statements of the company for the period ended 28 February 2025

Principal activities of the company

The Company was incorporated on 23 February 2024 and began trading on that date. The Company's principal activity is that of accelerating the global adoption of the Capability Hardware Enhanced RISC Instructions (CHERI) security technology across the high-tech industry and other sectors that depend on secure and resilient digital infrastructure, including defence, critical national infrastructure, finance, and healthcare. Our principal activities during the year included: - Building strategic collaborations with key stakeholders and growing the membership from 0 to 33 members by the end of the period, including commercial companies, universities, government entities and various community-focused organisations - Putting in place the structure, tools and systems to enable collaboration between members, and launching working groups to deliver concrete collaterals to help companies adopt the CHERI technology (porting of open-source software, recommendations, educational material) - Organising two events: a launch conference in Cheltenham (November 2024) and the CHERI Blossoms Conference 2025 in Cambridge (March 2025), and participating or exhibiting at various conferences

Additional information

FINANCIAL Even though the long-term objective of the Company is to have an industry-sustained source of income, the CHERI Alliance has benefited from a £100k grant from UK’s DSIT (Department for Science, Innovation & Technology) to accelerate its growth and help starting up. This grant carries over until end of March 2025, and is being paid after the expenses have been made, so the total present in this year’s accounts is only a fraction of the total grant. The directors are confident in the Alliance's financial resilience and its ability to continue in its mission of promoting and accelerating the CHERI technology adoption. The company has not made any political donations or incurred any political expenditure during the year. FUTURE OUTLOOK Looking ahead, the directors are optimistic about the prospects for CHERI Alliance. Our strategic priorities for the coming year include: - Expanding the membership - Investing in the ecosystem collaboration, notably through conferences and events - Supporting and strengthening members’ engagement to deliver value for the CHERI ecosystem The directors extend their gratitude to the members, consultants and partners for their unwavering support and contribution to the Alliance's success.



Directors

The directors shown below have held office during the whole of the period from
23 February 2024 to 28 February 2025

Michael Halsall
Robert Watson
Gavin Ferris
Michael Eftimakis


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
9 July 2025

And signed on behalf of the board by:
Name: Michael Halsall
Status: Director

CHERI ALLIANCE C.I.C.

Balance sheet

As at 28 February 2025

Notes 2025


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Stocks:   0
Debtors: 3 19,290
Cash at bank and in hand: 33,475
Investments:   0
Total current assets: 52,765
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: 4 ( 59,744 )
Net current assets (liabilities): (6,979)
Total assets less current liabilities: (6,979)
Creditors: amounts falling due after more than one year: 5 ( 14,017 )
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): (20,996)
Members' funds
Profit and loss account: (20,996)
Total members' funds: ( 20,996)

The notes form part of these financial statements

CHERI ALLIANCE C.I.C.

Balance sheet statements

For the year ending 28 February 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 9 July 2025
and signed on behalf of the board by:

Name: Michael Halsall
Status: Director

The notes form part of these financial statements

CHERI ALLIANCE C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.

    Other accounting policies

    DEBTORS Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. CASH AND CASH EQUIVALENTS Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. CREDITORS Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

CHERI ALLIANCE C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 2. Employees

    2025
    Average number of employees during the period 0

CHERI ALLIANCE C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

3. Debtors

2025
£
Trade debtors 2,545
Prepayments and accrued income 16,009
Other debtors 736
Total 19,290
Debtors due after more than one year: 0

CHERI ALLIANCE C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

4. Creditors: amounts falling due within one year note

2025
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 1,319
Taxation and social security 0
Accruals and deferred income 35,203
Other creditors 23,222
Total 59,744

CHERI ALLIANCE C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

5. Creditors: amounts falling due after more than one year note

2025
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Other creditors 14,017
Total 14,017

COMMUNITY INTEREST ANNUAL REPORT

CHERI ALLIANCE C.I.C.

Company Number: 15516512 (England and Wales)

Year Ending: 28 February 2025

Company activities and impact

Our principal activities during the year included: - Building strategic collaborations with key stakeholders and growing the membership from 0 to 33 members by the end of the period, including commercial companies, universities, government entities and various community-focused organisations - Putting in place the structure, tools and systems to enable collaboration between members, and launching working groups to deliver concrete collaterals to help companies adopt the CHERI technology (porting of open-source software, recommendations, educational material) - Organising two events: a launch conference in Cheltenham (November 2024) and the CHERI Blossoms Conference 2025 in Cambridge (March 2025), and participating or exhibiting at various conferences

Consultation with stakeholders

In compliance with its Governance Framework, the CHERI Alliance CIC has conducted elections to establish a Governing Board, with representatives from various organisations that are Contractual Members of the CHERI Alliance. The Governing Board’s role is to define the strategy and priorities, to drive committees and working groups, and to stay informed of the ongoing activity. The goal of the Alliance is to facilitate communication amongst the CHERI community: - Monthly 'all-hands' calls have been established to ensure regular communication with all Contractual Members - Focused discussions on specific topics have been organised within the context of working groups - Additionally, the Alliance has organised conferences to foster real-life interactions among members

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
9 July 2025

And signed on behalf of the board by:
Name: Michael Halsall
Status: Director