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Registered number: 15362791 Cyber Centre Of Excellence Limited Directors' report and financial statements For the period ended 30 April 2025
Cyber Centre Of Excellence Limited Company Information
Directors | A M Atkin
| I Coyle
| L R Duffy ACMA CGMA
| C P Jupe
| K Toy
| Cllr D O Tutt
Registered number | 15362791
Registered office | 37 St. Margarets Street
| Canterbury
| Kent
| CT1 2TU
Independent auditors | Kreston Reeves LLP
| Chartered Accountants & Statutory Auditor
| 37 St Margaret's Street
| Canterbury
| Kent
| CT1 2TU
Bankers | HSBC Bank plc
| Crawley Commercial Centre
| Global House
| High Street
| Crawley
| West Sussex
| RH10 1DL
Cyber Centre Of Excellence Limited Contents
| Page
Directors' report | 1 - 2
Independent auditors' report | 3 - 6
Statement of comprehensive income | 7
Balance sheet | 8
Statement of changes in equity | 9
Notes to the financial statements | 10 - 14
Cyber Centre Of Excellence Limited Directors' report For the period ended 30 April 2025 The directors present their report and the financial statements for the period ended 30 April 2025. The company was incorporated on 19 December 2023 and commenced trading on the same date.
Directors' responsibilities statement
The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Principal activity
The Cyber Centre of Excellence Ltd (CCoE Ltd) is a digital enterprise committed to making the UK the safest place to live, work, and play in the digital world. Established by iESE CIC in response to the growing threat of cyber conflict and vulnerability across public services, CCoE Ltd provides cutting-edge cyber protection, training, and strategic support to local authorities, public sector organisations and their communities (including businesses). The company’s mission is to strengthen the cyber resilience of UK communities by identifying, testing and packaging military-grade cyber security tools and services, conducting sector-wide assessments, and collaborating with councils, schools, small businesses and care providers to pilot and refine protective solutions. CCoE Ltd offers a comprehensive suite of cyber services, from implementation to ongoing support, designed to meet the needs of the public sector at affordable, sector-sensitive pricing. CCoE Ltd is a company limited by shares, with iESE CIC as the majority shareholder (80%), and minority shareholders contributing expertise in operations, international networking, and software licensing. This structure enables us to operate with agility while remaining aligned to the public benefit mission of the iESE Group. With our service partners and Advisory Board Members, we are actively developing a suite of cyber protection packages and services tailored to the needs of both public and private sector organisations. Through collaboration, innovation, and sector-led investment, CCoE Ltd is helping to build a digitally secure future for the UK. Page 1
Cyber Centre Of Excellence Limited Directors' report (continued) For the period ended 30 April 2025
Directors
The directors who served during the period were:
A M Atkin (appointed 19 December 2023)
I Coyle (appointed 1 May 2024)
L R Duffy ACMA CGMA (appointed 1 May 2024)
C P Jupe (appointed 19 December 2023)
K Toy (appointed 19 December 2023)
Cllr D O Tutt (appointed 19 December 2023)
T E Mccarthy (appointed 19 December 2023, resigned 30 April 2024)
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Auditors
The auditors, Kreston Reeves LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Small companies note
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the board and signed on its behalf.
A M Atkin Director
Date: 18 September 2025
Page 2
Cyber Centre Of Excellence Limited Independent auditors' report to the members of Cyber Centre Of Excellence Limited
Opinion
We have audited the financial statements of Cyber Centre Of Excellence Limited (the 'Company') for the period ended 30 April 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 30 April 2025 and of its result for the period then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 3
Cyber Centre Of Excellence Limited Independent auditors' report to the members of Cyber Centre Of Excellence Limited (continued)
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and ∙the Directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit; or ∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report.
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 4
Cyber Centre Of Excellence Limited Independent auditors' report to the members of Cyber Centre Of Excellence Limited (continued)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Capability of the audit in detecting irregularities, including fraud Based on our understanding of the company and industry, and through discussion with the directors and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, Statement of Recommended Practice, taxation and pension legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to unidentified related party transactions and lack of disclosure, posting inappropriate journal entries to increase revenue or reduce expenditure, management bias in accounting estimates and judgemental areas of the financial statements such as deferred income. Audit procedures performed by the engagement team included: ∙Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety, anti-bribery and employment law) and fraud, and review of the reports made by management; and ∙Assessment of identified fraud risk factors; and ∙Challenging assumptions and judgements made by management in its significant accounting estimates; and ∙Performing analytical procedures with automated data analytics tools to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and ∙Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and ∙Reading minutes of meetings of those charged with governance and reviewing correspondence with relevant tax and regulatory authorities; and ∙Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and ∙Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Page 5
Cyber Centre Of Excellence Limited Independent auditors' report to the members of Cyber Centre Of Excellence Limited (continued) As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: ∙Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. ∙Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Company's internal control. ∙Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. ∙Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' report. However, future events or conditions may cause the Company to cease to continue as a going concern. ∙Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Robert Sellers FCCA (Senior statutory auditor) for and on behalf of Kreston Reeves LLP Chartered Accountants Statutory Auditor Canterbury 18 September 2025 Page 6
Cyber Centre Of Excellence Limited Statement of comprehensive income For the period ended 30 April 2025
| 2025
| £
Turnover |  | 372,165
Cost of sales |  | (241,278)
Gross profit |  | 130,887
Administrative expenses |  | (130,887)
Operating profit |  | -
Profit for the financial period |  | -
The notes on pages 10 to 14 form part of these financial statements.
Page 7
Cyber Centre Of Excellence Limited Registered number: 15362791 Balance sheet As at 30 April 2025
|  | 2025
Note |  | £
Current assets |  |  |
Stocks |  | 353,608 |
Debtors: amounts falling due within one year | 4 | 51,292 |
Cash at bank and in hand |  | 162,355 |
Creditors: amounts falling due within one year | 5 | (567,155) |
Net current assets |  |  | 100
Net assets |  |  | 100
Capital and reserves |  |  |
Called up share capital | 6 |  | 100
Profit and loss account |  |  | -
|  |  | 100
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
A M Atkin
Director
Date: 18 September 2025
The notes on pages 10 to 14 form part of these financial statements. Page 8
Cyber Centre Of Excellence Limited Statement of changes in equity For the period ended 30 April 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
Comprehensive income for the period |  |  |
Profit for the period | - | - | -
Total comprehensive income for the period | - | - | -
Contributions by and distributions to owners |  |  |
Shares issued during the period | 100 | - | 100
At 30 April 2025 | 100 | - | 100
| The notes on pages 10 to 14 form part of these financial statements.
Page 9
Cyber Centre Of Excellence Limited Notes to the financial statements For the period ended 30 April 2025
1. | General information
Cyber Centre Of Excellence Limited is a limited liability company incorporated in England and Wales. The Company's registered office is 37 St Margaret's Street, Canterbury, CT1 2TU. The company was incorporated on 19 December 2023 and commenced trading on the same date. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The company's functional and presentational currency is Pounds Sterling. The company's financial statements are presented to the nearest £. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate for the foreseeable future. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts. If required, assurances have been provided that the majority shareholder of the company will provide their support to ensure the company is able to pay its liabilities as they fall due.
| 2.3 | Revenue
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: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Page 10
Cyber Centre Of Excellence Limited Notes to the financial statements For the period ended 30 April 2025 2.Accounting policies (continued)
| 2.3 | Revenue (continued)
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.
| 2.4 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.5 | 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.
| 2.6 | 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.
| 2.7 | 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. Page 11
Cyber Centre Of Excellence Limited Notes to the financial statements For the period ended 30 April 2025 2.Accounting policies (continued)
| 2.8 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Page 12
Cyber Centre Of Excellence Limited Notes to the financial statements For the period ended 30 April 2025 2.Accounting policies (continued)
| 2.8 | Financial instruments (continued)
Other financial instruments Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss. Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
3. | Employees
| The company utilises staff employed by IESE C.I.C., the majority shareholder, and staff employed by Onca Technologies Ltd, one of the minority shareholders. The average monthly number of employees, including directors, during the period was 6.
4. | Debtors
|  |  |  |  | 2025
|  |  |  |  | £
| Trade debtors | 3,600
| Other debtors | 16,410
| Called up share capital not paid | 20
| Prepayments and accrued income | 31,262
|  | 51,292
5. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025
|  |  |  |  | £
| Trade creditors | 92,555
| Amounts owed to group undertakings | 463,833
| Accruals and deferred income | 10,767
|  | 567,155
Page 13
Cyber Centre Of Excellence Limited Notes to the financial statements For the period ended 30 April 2025
6. | Share capital
|  |  |  |  | 2025
|  |  |  |  | £
|  | Allotted, called up and partly paid |
|  | 1,000 Ordinary shares of £0.10 each | 100
7. | Controlling party
The ultimate controlling party, by virtue of its majority shareholding of the ordinary share capital of the company, is IESE C.I.C., a company incorporated in England and Wales.
Page 14