REGISTERED NUMBER: 05650208 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

The Carbon Capture and Storage

Association

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Peter Whitton

Jonathan Briggs

Anthony Tarrant

Shirley Oliveira

Ralph Windeatt

Edita Adamcikova

Pierre Girard

Thomas Glover (Chair)

Amy Ruddock

George Whittaker

Ruth Herbert

Sophia Northridge

Chris Thackeray

REGISTERED OFFICE:

6th Floor, 10 Dean Farrar Street

London

SW1H 0DX

REGISTERED NUMBER:

05650208 (England and Wales)

SENIOR STATUTORY AUDITOR:

Muhammad Usman FCCA

AUDITORS:

Three Leaves

Chartered Certified Accountants &

Statutory Auditors

2 Manor House Lane

Datchet

Slough

Berkshire

SL3 9EB

FIXED ASSETS

Tangible assets

4

10,038

8,315

CURRENT ASSETS

Debtors

5

2,140,914

563,407

Cash at bank

1,787,531

1,110,214

3,928,445

1,673,621

CREDITORS

Amounts falling due within one year

6

2,374,781

337,840

NET CURRENT ASSETS

1,553,664

1,335,781

TOTAL ASSETS LESS CURRENT LIABILITIES

1,563,702

1,344,096

RESERVES

Income and expenditure account

1,563,702

1,344,096

1,563,702

1,344,096

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2025 and were signed on its behalf by:

Thomas Glover (Chair) - Director

1.	STATUTORY INFORMATION

The Carbon Capture and Storage Association is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 Section 1A and have not impacted on equity or statement of comprehensive income.

The following principal accounting policies have been applied:

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from the other sources. The estimates and associated assumptions are based on the historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover represents net invoiced subscriptions, and other fees received, excluding value added tax.

Grant income

Revenue grants are credited to income statement on the earlier of when they are received or when they become receivable, unless they relate to a specified future period, in which case they are deferred.

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.

The Association adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefit to the Association. The carrying amount of the replaced part is derecognised. Repairs and maintenance charged to the Statement of comprehensive income during the year in which they are incurred.

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:

- Computer equipment -33% on reducing balance

The asset's 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.

Financial instruments

The Association only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties, loan to related parties and investments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable income.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The Association operates a defined contribution pension scheme. Contributions payable to the Association's pension scheme are charged to the income statement in the period to which they relate.

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.

Creditors

Short term trade 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.

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 life.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

25,776

Additions

5,370

At 31 March 2025

31,146

DEPRECIATION

At 1 April 2024

17,461

Charge for year

3,647

At 31 March 2025

21,108

NET BOOK VALUE

At 31 March 2025

10,038

At 31 March 2024

8,315

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,626,574

209,996

Other debtors (See Note 9)

484,996

290,641

VAT

-

3,652

Prepayments

29,344

59,118

2,140,914

563,407

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

137,091

143,051

Corporation tax

5,857

3,553

Social security and other taxes

58,266

69,380

VAT

197,946

-

Other creditors

8,044

3,162

Deferred income

1,876,853

109,720

Accruals

90,724

8,974

2,374,781

337,840

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Muhammad Usman FCCA (Senior Statutory Auditor)

for and on behalf of Three Leaves

8.	RESERVES POLICY

The membership of the Association varies from year to year, depending on market forces in play, so it is important that there is a robust reserves policy that reflects this.

The Association has a reserves policy based on its future commitments to both other organisations and its staff. The aim is to have enough available in reserve to cover 6 months operating expenses, contractual liabilities to staff and financial commitments for the premises currently occupied by the Association.

The reserves will also be used to cover any annual budget deficit that has been approved by the Board.

9.	RELATED PARTY DISCLOSURES

On 14 June 2019, "The Carbon Capture and Storage Association" non-profit association was incorporated in Belgium with its address at 2640 Mortsel, Liersesteenweg 21. The entity is run on the same basis by the directors as The Carbon Capture and Storage Association in the United Kingdom although its results are not reflected or consolidated in these financial statements.

At the year end, an amount included in the other debtors of £484,996 (2024: £290,641) is owed by The Carbon Capture and Storage Association in Belgium. The amount is interest free and repayable on demand.

During the year, an intercompany management charge of £344,000 was recorded to allocate share of the EU office’s operating costs. These costs included shared administrative functions(e.g. certain percentage of total staff cost and other indirect admin costs).

10.	LIMITED BY GUARANTEE

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.