ACCOUNTS - Final Accounts preparation

Staff costs, including Directors' remuneration, were as follows:

Registered number: 04086309

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2025

	CORPORATE RISK ASSOCIATES LIMITED


CORPORATE RISK ASSOCIATES LIMITED

COMPANY INFORMATION

Directors	D. M. P. Chabert D'Hieres De Seguin De Reynies
	Christian Olivier Jeanneau


Company secretary	D. M. P. Chabert D'Hieres De Seguin De Reynies


Registered number	04086309


Registered office	Assystem First Floor, Parklands 4b
	Middlebrook
	Bolton
	Lancashire
	BL6 4SD


Independent auditor	Menzies LLP
	Chartered Accountants
	2nd Floor, Origin One
	108 High Street
	Crawley
	RH10 1BD


CORPORATE RISK ASSOCIATES LIMITED

CONTENTS

	Page
Statement of financial position	1
Statement of changes in equity	2
Notes to the financial statements	3 - 8


CORPORATE RISK ASSOCIATES LIMITED REGISTERED NUMBER:04086309

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		-		26,186
			-		26,186
Current assets
Debtors: amounts falling due within one year	5	714,016		724,620
Cash at bank and in hand		47,316		558,280
		761,332		1,282,900
Creditors: amounts falling due within one year	6	-		(463,006)
Net current assets			761,332		819,894
Total assets less current liabilities			761,332		846,080
Provisions for liabilities
Deferred tax	7	-		(5,978)
			-		(5,978)
Net assets			761,332		840,102

Capital and reserves
Called up share capital	8	50	50
Capital redemption reserve		50	50
Profit and loss account		761,232	840,002
		761,332	840,102

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

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 profit and loss account 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:

................................................

D. M. P. Chabert D'Hieres De Seguin De Reynies

Director

Date: 14 September 2026

The notes on pages 3 to 8 form part of these financial statements.

Page 1


CORPORATE RISK ASSOCIATES LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2024	50	50	750,804	750,904

Profit for the year	-	-	89,198	89,198

At 1 January 2025	50	50	840,002	840,102

Loss for the year	-	-	(78,770)	(78,770)
At 31 December 2025	50	50	761,232	761,332

The notes on pages 3 to 8 form part of these financial statements.

Page 2


CORPORATE RISK ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Corporate Risk Associates Limited is a private company, limited by shares, incorporated in England and Wales. The
registered office is disclosed on the company information page and its principal place of business is 17 Slingsby Place, London, WC2E 9AB.

The Company was inactive throughout the year and did not undertake any trading activity.

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

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Assystem S.A which can be obtained from 70 Boulevard de Courcelles, 75017, Paris, France. As such, advantage has been taken of the following disclosure exemptions
available under paragraph 1.12 of FRS 102:

(a) No cash flow statement has been presented for the Company.
(b) Disclosures in respect of financial instruments have not been presented.
(c) No disclosure has been given for the aggregate remuneration of key management personnel.

2.3

Going concern

On the 31 December 2024 the company ceased trading. The Company underwent a business transfer whereby the trade and assets were hived up into Assystem Energy & Infrastructure Limited on 1 January 2025. As a result, the going concern basis is no longer appropriate and these financial statements have been prepared on a basis other than the going concern basis, which is not materially different to the going concern basis.

Page 3


CORPORATE RISK ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentation currency is GBP, rounded to the nearest £1.

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 'administrative expenses'.

2.5

Revenue

Revenue arises from the provision of bespoke safety, risk and reliability consultancy services to safety-critical
and high hazard industries. Revenue is recognised as the service is provided.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and
the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or
receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4


CORPORATE RISK ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

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

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

−The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

−Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

Page 5


CORPORATE RISK ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.10

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

3 to 6 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.

Wages and salaries	-	3,525,982
Social security costs	-	402,786
Cost of defined contribution scheme	-	545,224
	-	4,473,992

The average monthly number of employees, including the Directors, during the year was as follows:

	2025	2024
	No.	No.

Directors	2	3
Admin Staff	-	6
Production Staff	-	61

	2	70

Page 6


CORPORATE RISK ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	Tangible fixed assets

		Computer equipment
		£
	Cost
	At 1 January 2025	258,799
	Disposals	(258,799)
	At 31 December 2025	-

	At 1 January 2025	232,613
	Disposals	(232,613)
	At 31 December 2025	-
	Net book value
	At 31 December 2025	-
	At 31 December 2024	26,186

Debtors

					2025	2024
					£	£


Trade debtors	-	246,543
Amounts owed by group undertakings	714,016	41,071
Other debtors	-	83,665
Prepayments and accrued income	-	304,453
Tax recoverable	-	48,888
	714,016	724,620

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	-	17,284
Other taxation and social security	-	250,216
Accruals and deferred income	-	195,506
	-	463,006

Page 7


CORPORATE RISK ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

7.	Deferred taxation

		2025
		£

	At beginning of year	(5,978)
	Charged to the profit or loss	5,978
	At end of year	-

The deferred taxation balance is made up as follows:
	2025	2024
	£	£


Fixed asset timing differences	-	(5,978)
	-	(5,978)

8.	Called up share capital
		2025	2024
		£	£

Allotted, called up and fully paid

50 (2024 - 50) Ordinary shares of £1.00 each	50	50

Ordinary shares carry voting rights and there are no restrictions on the distributions of dividends.

9.	Controlling parties

At 31 December 2025, the immediate parent company was Assystem Energy & Infrastructure Limited. The ultimate parent company and controlling party is Assystem S.A. a company registered in France, whose office is at 70 Boulevard de Courcelles, 75017, Paris, France. Copies of the consolidated accounts of Assystem S.A. which is the largest and smallest group for which group accounts are prepared, are available from the website www.assystem.com.

10.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 14 September 2026 by Andrew Hookway FCA (Senior statutory auditor) on behalf of Menzies LLP.

Page 8