REGISTERED NUMBER: 01926883 (England and Wales)

REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CAMBRIDGE ENVIRONMENTAL RESEARCH

CONSULTANTS LIMITED

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Profit and Loss Account

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10

DIRECTORS:

DJ Carruthers

TJ Newton

SECRETARY:

TJ Newton

REGISTERED OFFICE:

3 Kings Parade

Cambridge

Cambridgeshire

CB2 1SJ

REGISTERED NUMBER:

01926883 (England and Wales)

AUDITORS:

Prentis & Co LLP

Chartered Accountants & Statutory Auditors

115c Milton Road

Cambridge

CB4 1XE

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

DJ Carruthers

TJ Newton

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), 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 and then apply them consistently;

-	make judgements 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Prentis & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

TJ Newton - Secretary

17 September 2025

Opinion

We have audited the financial statements of Cambridge Environmental Research Consultants Limited (the 'company') for the year ended 31 December 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, 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 31 December 2024 and of its profit for the year 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 UK, including the FRC'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 directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors 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 Report of the Directors.

We have nothing to report in respect of the following matters where 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' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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 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.

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The primary responsibility for the prevention and detection of irregularities including fraud rests with both the management and those charged with governance of the company. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

We have considered the nature of the industry and sector, control environment, laws and regulations and business performance of the company. Laws and regulations considered included, but were not limited to, the Companies Act 2006, FRS 102 and UK taxation legislation.

During our planning procedures, we have enquired with the management in regards to their own assessment of the risks of irregularities, including fraud. We also enquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

We obtained relevant documentation and representations in order to form an opinion on potential irregularities, including fraud.

We considered the opportunities and incentives that may exist within the organisation for fraud.

Based on this understanding, we designed specific audit procedures to identify instances of non-compliance with laws and regulations, including obtaining additional corroborative evidence as required. Examples of procedures included reviewing large and unusual transactions, reviewing large and unexpected variances, reviewing journal entries and reviewing relevant legal correspondence.

There are inherent limitations in the audit procedures described above, not least as sampling is used under International Auditing Standards, therefore not all transactions are reviewed. Therefore there is a risk we will not detect all irregularities including those leading to a material misstatement in the financial statements or non-compliance with regulations. The risk of not detecting a material misstatement due to fraud is also higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery, collusion, omission or intentional misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Ian Shipley FCCA (Senior Statutory Auditor)

for and on behalf of Prentis & Co LLP

Chartered Accountants & Statutory Auditors

115c Milton Road

Cambridge

CB4 1XE

22 September 2025

TURNOVER

1,790,912

1,689,007

Cost of sales

889,550

848,480

GROSS PROFIT

901,362

840,527

Administrative expenses

817,893

906,419

OPERATING PROFIT/(LOSS)

4

83,469

(65,892

)

Amounts written off investments

-

104,440

PROFIT/(LOSS) BEFORE TAXATION

83,469

(170,332

)

Tax on profit/(loss)

-

-

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

83,469

(170,332

)

FIXED ASSETS

Intangible assets

5

98,406

-

Tangible assets

6

19,955

24,380

Investments

7

6,430

6,430

124,791

30,810

CURRENT ASSETS

Stocks

157,720

159,705

Debtors

8

484,403

555,615

Cash at bank

635,498

436,048

1,277,621

1,151,368

CREDITORS

Amounts falling due within one year

9

310,722

256,804

NET CURRENT ASSETS

966,899

894,564

TOTAL ASSETS LESS CURRENT LIABILITIES

1,091,690

925,374

PROVISIONS FOR LIABILITIES

420,812

337,965

NET ASSETS

670,878

587,409

CAPITAL AND RESERVES

Called up share capital

394

394

Capital redemption reserve

1,106

1,106

Retained earnings

669,378

585,909

SHAREHOLDERS' FUNDS

670,878

587,409

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2025 and were signed on its behalf by:

DJ Carruthers - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

394

756,241

1,106

757,741

Changes in equity

Total comprehensive income

-

(170,332

)

-

(170,332

)

Balance at 31 December 2023

394

585,909

1,106

587,409

Changes in equity

Total comprehensive income

-

83,469

-

83,469

Balance at 31 December 2024

394

669,378

1,106

670,878

1.	STATUTORY INFORMATION

Cambridge Environmental Research Consultants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover, which excludes value added tax, represents the invoiced value of goods and services supplied.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost and 10% on cost

Furniture, fixtures and fittings

-

10% on cost

Assets are written off once they are fully depreciated.

Stocks and work in progress

Stocks and work in progress (stated at the lower of cost and net realisable value) represent the cost of labour and, where appropriate, materials on contract research in progress at the balance sheet date, which has been incurred but not yet invoiced.

Taxation

Recognition in the financial statements of claims made under the Corporation Tax Act 2019, Part 13, is deferred until their receipt is certain.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Finance leases

Assets acquired under finance leases are capitalised at their fair values and depreciated using the methods and rates disclosed above. The obligation to pay future rentals is recorded as a liability on the balance sheet, net of finance charges. Finance charges are allocated to accounting periods so as to approximate to a constant rate of return on the outstanding balance.

Operating leases

Rentals under operating leases are charged on a straight line basis over the lease term.

Long term contracts

The results of long term contracts in progress at the balance sheet date are stated in accordance with Statement of Standard Accounting Practice No. 9. In particular, turnover is included to the extent that it represents work completed by the balance sheet date. A proportionate part of the profit attributable to the contact is credited to the profit and loss account only where the outcome of the contract may be ascertained with reasonable certainty. Losses are charged to the profit and loss account as soon as they become apparent.

Development expenditure

The company defers development expenditure on new software products where the amounts are material and the project meets the criteria for deferral specified in Statement of Standard Accounting Practice 13 (revised). Development expenditure is amortised over the period in which the product is expected to be sold, commencing in the period in which it is launched.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 28 ) .

4.	OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

2024

2023

£

£

Depreciation - owned assets

13,052

15,344

5.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 January 2024

188,547

Additions

98,406

At 31 December 2024

286,953

AMORTISATION

At 1 January 2024

and 31 December 2024

188,547

NET BOOK VALUE

At 31 December 2024

98,406

At 31 December 2023

-

6.	TANGIBLE FIXED ASSETS

Furniture,

fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

73,394

13,191

86,585

Additions

8,627

-

8,627

Disposals

(28,199

)

(13,191

)

(41,390

)

At 31 December 2024

53,822

-

53,822

DEPRECIATION

At 1 January 2024

49,456

12,749

62,205

Charge for year

12,610

442

13,052

Eliminated on disposal

(28,199

)

(13,191

)

(41,390

)

At 31 December 2024

33,867

-

33,867

NET BOOK VALUE

At 31 December 2024

19,955

-

19,955

At 31 December 2023

23,938

442

24,380

7.	FIXED ASSET INVESTMENTS

The company owns 70% of the ordinary share capital of CERC Overseas Limited, represented by 86,100 shares.

2024

2023

£

£

Investment value at 1 January 2024

6.430

69,450

Amount written off investment during the year

-

(63,020

)

Investment value at 31 December 2024

6,430

6,430

Amount written off investment

-

63,020

Provision against debt

-

41,420

Total charge to the profit and loss account

-

104,440

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

319,798

348,113

Amounts recoverable on contract

74,317

91,684

Other debtors

7,500

-

Tax

48,586

77,826

Prepayments

34,202

37,992

484,403

555,615

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Payments on account

118,918

93,533

Trade creditors

48,448

13,053

Social security and other taxes

93,267

95,987

Other creditors

14,817

6,070

Accruals

35,272

48,161

310,722

256,804

10.	RELATED PARTY DISCLOSURES

As at 31 December 2024, the company was owed £7,500 (2023: £nil) by a director. This was repaid in full within nine months of the year end.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors, who jointly own 100% of the issued share capital of the company.

12.	TOTAL REMAINING COMMITMENTS UNDER OPERATING LEASES

2024

2023

£

£

Other non-cancellable operating leases

60,833

133,833