REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
CITYCO (MANCHESTER) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
CITYCO (MANCHESTER) LIMITED |
CITYCO (MANCHESTER) LIMITED (REGISTERED NUMBER: 03986791) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CITYCO (MANCHESTER) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
Hanover House |
30-32 Charlotte Street |
Manchester |
M1 4FD |
BANKERS: |
Bridle Road |
Bootle |
Merseyside |
L30 4GB |
CITYCO (MANCHESTER) LIMITED (REGISTERED NUMBER: 03986791) |
BALANCE SHEET |
31ST MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
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 |
CITYCO (MANCHESTER) LIMITED (REGISTERED NUMBER: 03986791) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
1. | STATUTORY INFORMATION |
CityCo (Manchester) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
This arises solely in the United Kingdom and comprises of service charges to Manchester City Council and membership contributions from private sector partners, to enable the company to fulfil its objectives. |
Tangible fixed assets |
Fixtures and fittings | - |
Office equipment | - |
All fixed assets are initially recorded at cost. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against income on a straight line basis over the period of the lease. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
CITYCO (MANCHESTER) LIMITED (REGISTERED NUMBER: 03986791) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Office |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1st April 2022 |
and 31st March 2023 |
DEPRECIATION |
At 1st April 2022 |
Charge for year |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Payments received on account | 225,370 | 195,749 |
Social security and other taxes |
VAT |
Other creditors |
Accruals and deferred income |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
CITYCO (MANCHESTER) LIMITED (REGISTERED NUMBER: 03986791) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | RELATED PARTY DISCLOSURES |
The company has a management agreement in place with Heart of Manchester Bid Company Limited under which it provides certain management and administrative services. |
During the year, the company invoiced £768,657 (2022: £680,459) to Heart of Manchester Bid Company Limited for such services and other cost recharges. The amount outstanding as at 31st March 2023 was £151,357 (2022: £134,255). During the year, Heart of Manchester Bid Company Limited recharged costs to the company of £1,042 (2022: £710). The amount outstanding as at 31st March 2023 was £311 (2022: £659). |
The company has a service level agreement in place with Manchester City Council under which it provides the Council with flexible support with projects and operations across Manchester. |
During the year, the company invoiced £191,857 (2022: £160,312) to Manchester City Council for such service support, membership and other cost recharges. The amount outstanding as at 31st March 2023 was £60,000 (2022: £255). |
10. | LIMITED BY GUARANTEE |
CityCo (Manchester) Limited is a company limited by guarantee. |
Every statutory member of the company undertakes to contribute one pound to the assets of the company in the event of the company being wound up while he or she is a member, or within one year after he or she ceases to be a member, for payment of the debts and liabilities of the company contracted before he or she ceases to be a member. |
If upon winding-up or dissolution of the company there remains, after the satisfaction of all its debts and liabilities, any property whatsoever, the surplus shall be given or transferred to a charitable institution having charitable objects similar to the objects of the company. |