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Registration number: 09838276

Cambridge Management Consulting Limited
Unaudited Financial Statements
for the Period from 1 January 2024 to 7 January 2025

Cambridge Management Consulting Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 14

Cambridge Management Consulting Limited

Company Information

Directors | Mr Timothy Mark Passingham Mr Richard Michael Brown

Registered office | 5 High Green Great Shelford Cambridge Cambridgeshire CB22 5EG

Accountants | Tayabali & White 5 High Green Great Shelford Cambridge CB22 5EG

Cambridge Management Consulting Limited

(Registration number: 09838276)
Balance Sheet as at 7 January 2025

| Note | 2025 £ | 2023 £
Fixed assets |  |  |
Intangible assets | 5 | 269,620 | -
Tangible assets | 6 | 23,882 | 42,118
Investments | 7 | 12,495 | 1,040
|  | 305,997 | 43,158
Current assets |  |  |
Debtors | 8 | 2,392,997 | 1,555,296
Cash at bank and in hand |  | 321,320 | 428,591
|  | 2,714,317 | 1,983,887
Creditors: Amounts falling due within one year | 9 | (2,982,549) | (1,820,934)
Net current (liabilities)/assets |  | (268,232) | 162,953
Total assets less current liabilities |  | 37,765 | 206,111
Creditors: Amounts falling due after more than one year | 9 | (376,481) | (14,167)
Provisions for liabilities |  | (5,971) | (10,525)
Net (liabilities)/assets |  | (344,687) | 181,419
Capital and reserves |  |  |
Called up share capital | 10 | 11 | 10
Share premium reserve |  | 232,940 | -
Retained earnings |  | (577,638) | 181,409
Shareholders' (deficit)/funds |  | (344,687) | 181,419

For the financial period ending 7 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 November 2025 and signed on its behalf by:

Cambridge Management Consulting Limited

(Registration number: 09838276)
Balance Sheet as at 7 January 2025

......................................... Mr Timothy Mark Passingham Director

Cambridge Management Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 7 January 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company's registered number is 09838276.

The address of its registered office is:
5 High Green
Great Shelford
Cambridge
Cambridgeshire
CB22 5EG

The principal place of business is:
20 Garrett Street
London
EC1Y 0TW

These financial statements were authorised for issue by the Board on 10 November 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
There were no material departures from that standard.
The presentation currency is £ sterling.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Entity status

Please note that these accounts are for one of the legal entities in the Cambridge Management Consulting group and do not portay the full scope of the group. Other entities include, but are not limited to, Cambridge MC Limited, Cambridge (MC2) MC (Israel) Limited, Cambridge Management Consulting LLP, Cambridge Executive Search & Selection Limited, The Carrier Club, Edenseven Limited, Blue Creek LLC, Cambridge Management Consulting (Process) Inc and cofinitive Limited.

Cambridge Management Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 7 January 2025

Disclosure of long or short period

This period of accounts is for the 373 day period to 7th January 2025. The comparative period is for the 365 day period to 31st December 2023 and therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. The reason for this change is to take advantage of the opportunity to make a Research and Development tax credit claim.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cambridge Management Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 7 January 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
All fixed assets | 25% and 33% on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life with none charged in the year of acquisition.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Cambridge Management Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 7 January 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Cambridge Management Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 7 January 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the period, was 23 (2023 - 15).

4 | Exceptional items

Costs of £96,488 and £128,696 are presented as exceptional expenses, separately within cost of sales and general administrative expenses respectively on the supplementary profit and loss account. The majority of these one-off exceptional costs relate to due diligence on a potential acquisition which was not progressed.

Cambridge Management Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 7 January 2025

5 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
Additions acquired separately | 269,620 | 269,620
At 7 January 2025 | 269,620 | 269,620
Amortisation
Carrying amount
At 7 January 2025 | 269,620 | 269,620

6 | Tangible assets

| Fixtures and fittings £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2024 | 1,856 | 51,209 | 82,000 | 135,065
Additions | 1,883 | 12,992 | - | 14,875
Disposals | - | - | (82,000) | (82,000)
At 7 January 2025 | 3,739 | 64,201 | - | 67,940
Depreciation
At 1 January 2024 | 1,114 | 28,062 | 63,771 | 92,947
Charge for the period | 519 | 14,363 | 18,229 | 33,111
Eliminated on disposal | - | - | (82,000) | (82,000)
At 7 January 2025 | 1,633 | 42,425 | - | 44,058
Carrying amount
At 7 January 2025 | 2,106 | 21,776 | - | 23,882
At 31 December 2023 | 742 | 23,147 | 18,229 | 42,118

Cambridge Management Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 7 January 2025

7 | Investments

| 2025 £ | 2023 £
Investments in subsidiaries | 12,495 | 1,040

Subsidiaries | £
Cost or valuation
At 1 January 2024 | 1,040
Additions | 11,455
At 7 January 2025 | 12,495
Provision
Carrying amount
At 7 January 2025 | 12,495
At 31 December 2023 | 1,040

8 | Debtors

Current | Note | 2025 £ | 2023 £
Trade debtors |  | 1,217,768 | 1,373,125
Amounts owed by related parties | 13 | 105,722 | -
Prepayments |  | 848,682 | 172,230
Other debtors |  | 220,825 | 9,941
|  | 2,392,997 | 1,555,296

Cambridge Management Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 7 January 2025

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 11 | 355,160 | 54,900
Trade creditors |  | 1,548,393 | 1,159,287
Taxation and social security |  | 157,864 | 73,696
Accruals and deferred income |  | 851,021 | 527,276
Other creditors |  | 69,911 | 5,575
Amounts due to related parties |  | 200 | 200
|  | 2,982,549 | 1,820,934

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 11 | 376,481 | 14,167

| 2025 £ | 2023 £
Due after more than five years |  |
After more than five years by instalments | 11,374 | -

| - | -

Cambridge Management Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 7 January 2025

10 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2023
| No. | £ | No. | £
Ordinary A £0.01 shares of £0.01 each | 44 | 0.44 | 1,000 | 10.00
Ordinary B £0.01 shares of £0.01 each | - | - | 50 | 0.50
Ordinary £0.01 shares of £0.01 (2023 - £0) each | 980 | 9.80 | - | -
Preference £0.01 shares of £0.01 (2023 - £0) each | 70 | 0.70 | - | -
| 1,094 | 10.94 | 1,050 | 10.50

11 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2023 £
Bank borrowings | 376,481 | 14,167

Current loans and borrowings

| 2025 £ | 2023 £
Bank borrowings | 107,195 | 10,000
Hire purchase contracts | - | 44,900
Other borrowings | 247,965 | -
| 355,160 | 54,900

Bank borrowings

Lloyds Bank plc bounce back loan is denominated in sterling with a nominal interest rate of 2.60%, and the final instalment is due on 6 May 2026. The carrying amount at period end is £14,167 (2023 - £23,421).
Lloyds Bank plc fixed rate loan is denominated in sterling with a nominal interest rate of 2.00%, and the final instalment is due on 26 July 2029. The carrying amount at period end is £313,755 (2023 - £Nil).
Momenta Finance loan is denominated in sterling with a nominal interest rate of 16.08%, and the final instalment is due on 10 May 2028. The carrying amount at period end is £144,381 (2023 - £Nil).

Cambridge Management Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 7 January 2025

Other borrowings

Lloyds Bank plc Invoice Finance is denominated in sterling with a nominal interest rate of 2.45%. The carrying amount at period end is £247,965 (2023 - £Nil). The debt is secured by a debenture over all company assets.

Included in the loans and borrowings are the following amounts due after more than five years:

Bank loans and overdrafts after five years

Bank loans and borrowings include £11,374 due in over five years in respect of the Lloyds bank plc fixed rate loan. This loan is repaid by instalments of £6,683 and the final instalment is due on 26th July 2029. Interest is charged at 2.00% per annum.

12 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2023 £
Not later than one year | - | 116,600

The amount of non-cancellable operating lease payments recognised as an expense during the period was £70,805 (2023 - £108,576).

13 | Related party transactions

Key management personnel

The loan to Mr Timothy Mark Passingham does not bear interest and is repayable on demand.

Transactions with directors

2025 | At 1 January 2024 £ | Advances to director £ | Repayments by director £ | At 7 January 2025 £
Mr Richard Michael Brown
Drawings | 9,751 | - | (9,751) | -
Mr Timothy Mark Passingham
Loan account | (240) | 223,014 | (2,139) | 220,635

Cambridge Management Consulting Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 7 January 2025

2023 | At 1 January 2023 £ | Advances to director £ | At 31 December 2023 £
Mr Richard Michael Brown
Drawings | 1 | 9,750 | 9,751

14 | Parent and ultimate parent undertaking

The ultimate controlling party is T M Passingham.