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Company registration number: 11182292
| FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 DECEMBER 2024
| CVA CORPORATE VALUE ASSOCIATES UK LIMITED
CVA CORPORATE VALUE ASSOCIATES UK LIMITED |  |
COMPANY INFORMATION
Director | Paul-Andre Rabate
Registered number | 11182292
Registered office | 175 High Holborn
| London
| WC1V 7AA
Independent auditor | Menzies LLP
| Chartered Accountants & Statutory Auditor
| 95 Gresham Street
| London
| EC2V 7AB
CVA CORPORATE VALUE ASSOCIATES UK LIMITED |  |
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 9
CVA CORPORATE VALUE ASSOCIATES UK LIMITED REGISTERED NUMBER:11182292 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 20,005 |  | 28,901
Investments | 5 |  | 1,079,554 |  | 1,079,554
|  |  | 1,099,559 |  | 1,108,455
Current assets |  |  |  |  |
Debtors: amounts falling due after more than one year | 6 | - |  | 67,210 |
Debtors: amounts falling due within one year | 6 | 611,374 |  | 1,099,998 |
Cash at bank and in hand | 7 | 370,857 |  | 511,592 |
|  | 982,231 |  | 1,678,800 |
Creditors: amounts falling due within one year | 8 | (241,406) |  | (789,559) |
Net current assets |  |  | 740,825 |  | 889,241
Total assets less current liabilities |  |  | 1,840,384 |  | 1,997,696
Provisions for liabilities |  |  |  |  |
Other provisions |  | (50,000) |  | (50,000) |
|  |  | (50,000) |  | (50,000)
Net assets |  |  | 1,790,384 |  | 1,947,696
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 10,001 |  | 10,001
Share premium account |  |  | 16,153 |  | 16,153
Other reserves |  |  | 1,779,769 |  | 1,779,769
Profit and loss account |  |  | (15,539) |  | 141,773
|  |  | 1,790,384 |  | 1,947,696
Page 1
CVA CORPORATE VALUE ASSOCIATES UK LIMITED REGISTERED NUMBER:11182292 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2024 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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Paul-Andre Rabate
Director
Date: 17 September 2025
The notes on pages 3 to 9 form part of these financial statements. Page 2
CVA CORPORATE VALUE ASSOCIATES UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
The Company is a private limited Company (Limited by shares) incorporated in England and Wales. The Company's registered office is 175 High Holborn, London, WC1V 7AA. The Company's principal activity is that of providing consultancy services. 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | Exemption from preparing consolidated financial statements
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.
| 2.3 | Going concern
The financial statements are prepared on a going concern basis. The Company has assurances of the financial support provided by its ultimate parent company Corporate Value Associates Netherlands B.V. The director has received confirmation that the ultimate parent company will continue to support the Company and provide it with adequate funds when necessary to enable it to meet its debts as they fall due for at least a period of 12 months from the date of signing these financial statements. Having regard to the above, the director believes it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Page 3
CVA CORPORATE VALUE ASSOCIATES UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.5 | Revenue
Turnover comprise the fair value of the consideration received or receivable for the recharge of the salaries and bonuses of management in accordance with its intercompany agreement as well as costs incurred that are recharged to other group companies at a mark-up in accordance with its intercompany agreement. 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. Revenue is derived from bespoke consulting services to several industries including retail, financial services, energy, public sector, metals mining and materials. Revenue also includes amounts pertaining to disbursements.
| 2.6 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. Page 4
CVA CORPORATE VALUE ASSOCIATES UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.7 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.8 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.9 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
| 2.10 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% reducing balance
|  |  |  | Fixtures and fittings | - | 25% reducing balance
|  |  |  | Office equipment | - | 4 years straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.11 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 5
CVA CORPORATE VALUE ASSOCIATES UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.12 | 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.
| 2.13 | 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.
| 2.14 | 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.
| 2.15 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
3. | Employees
| The average monthly number of employees, including the director, during the year was as follows:
|  |  | 2024 | 2023
|  |  | No. | No.
|  | Employees | 10 | 10
Page 6
CVA CORPORATE VALUE ASSOCIATES UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Plant and machinery | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2024 | 46,493 | 226,455 | 89,794 | 362,742
| At 31 December 2024 | 46,493 | 226,455 | 89,794 | 362,742
| Depreciation |  |  |  |
| At 1 January 2024 | 37,753 | 213,396 | 82,692 | 333,841
| Charge for the year on owned assets | 2,185 | 3,265 | 3,446 | 8,896
| At 31 December 2024 | 39,938 | 216,661 | 86,138 | 342,737
| Net book value |  |  |  |
| At 31 December 2024 | 6,555 | 9,794 | 3,656 | 20,005
| At 31 December 2023 | 8,740 | 13,059 | 7,102 | 28,901
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2024 | 1,079,554
| At 31 December 2024 | 1,079,554
Page 7
CVA CORPORATE VALUE ASSOCIATES UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | - | 67,210
|  | - | 67,210
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Due within one year |  |
| Trade debtors | - | 131,235
| Amounts owed by group undertakings | 413,098 | 824,177
| Amounts owed by joint ventures and associated undertakings | - | 1,779
| Other debtors | 101,821 | 36,756
| Prepayments and accrued income | 96,455 | 106,051
|  | 611,374 | 1,099,998
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 370,857 | 511,592
|  | 370,857 | 511,592
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 62,061 | 57,651
| Amounts owed to group undertakings | 8,649 | 478,107
| Other taxation and social security | 117,052 | 82,063
| Other creditors | 23,106 | 140,765
| Accruals and deferred income | 30,538 | 30,973
|  | 241,406 | 789,559
Page 8
CVA CORPORATE VALUE ASSOCIATES UK LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. | Provisions
|  | Dilapidations provision
|  | £
| At 1 January 2024 | 50,000
| At 31 December 2024 | 50,000
10. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an indenpendently administered fund. The pension cost charge represents contritbutions payable by the Company to the fund and amounted to £10,645 (2023: £9,937 ). Contributions totalling £8,952 (2023: £3,965) were payable to the fund at the balance sheet date and are included in creditors.
11. | Commitments under operating leases
| At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Not later than 1 year | 84,964 | 193,588
| Later than 1 year and not later than 5 years | - | 80,662
|  | 84,964 | 274,250
| Following the year end a one year lease was signed for £150,000 effective from 1 June 2025.
12. | Controlling party
The company is wholly owned by Corporate Value Associates Netherlands B.V., a limited company incorporated in Netherlands, registered Kingsfordweg 151, 1043 GR Amsterdam, Netherlands. Corporate Value Associates Netherlands B.V. is the only group for which consolidated financial statements are prepared in which the Company is included. These consolidated accounts can be obtained from this address.
13. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 17 September 2025 by Sarah Hallam FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.
Page 9