CERES POWER INTERMEDIATE HOLDINGS LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Consequently, the Directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and have prepared the financial statements on a going concern basis.”

Group structure

1. CERES POWER INTERMEDIATE HOLDINGS LIMITED · parent
   1. Ceres Power Limited 1% · England and Wales · commercialisation and continued development of the Group's fuel cell and electrochemical technology.
   2. Ceres Intellectual Property Company Limited 1% · England and Wales · administration of registered intellectual property developed within the Group.
   3. Ceres Power Licence Company Limited 1% · England and Wales · provision of overseas licence and royalty services.
   4. Ceres Holdings International Limited 1% · England and Wales · dormant

Significant events

• “Our first new manufacturing partnership and licence agreement of 2024 was announced in January with Taiwan's Delta Electronics.”
• “In July, we signed a SOEC manufacturing licence with Japan's Denso Corporation”
• “In addition to securing two new manufacturing licences, Ceres signed its first SOEC system licence partnership with Thermax in September.”
• “Our collaboration with Shell to deploy a megawatt-scale SOEC demonstrator was installed in 2024”
• “In February 2025, Bosch took the strategic decision to cease its development of SOFC cells and stacks for manufacture.”
• “Organisational simplification and right-sizing... reducing employee numbers by 80, a process that was completed in October 2024.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

8

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  -11%

  £44,067,000 → £39,221,000

• Net assets

  +1.5%

  £384,666,000 → £390,395,000

• Employees

  —

  Not reported

• Operating profit

  -5,457.1%

  -£7,000 → -£389,000

• Profit before tax

  -14.7%

  £6,085,000 → £5,190,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers