ACCOUNTS - Final Accounts

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:

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.

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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.

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.

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