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REGISTERED NUMBER: 14881706 (England and Wales)














Unaudited Financial Statements

for the Period 19 May 2023 to 31 March 2024

for

Downtown Manchester Propco Limited

Downtown Manchester Propco Limited (Registered number: 14881706)






Contents of the Financial Statements
for the Period 19 May 2023 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Downtown Manchester Propco Limited

Company Information
for the Period 19 May 2023 to 31 March 2024







DIRECTORS: D R Foran
D T McGoff
D J P McGoff
C A McGoff





REGISTERED OFFICE: 1 St. Georges Court
Altrincham Business Park
Altrincham
United Kingdom
WA14 5UA





REGISTERED NUMBER: 14881706 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Downtown Manchester Propco Limited (Registered number: 14881706)

Balance Sheet
31 March 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 18,961,018
Investments 5 1
18,961,019

CURRENT ASSETS
Debtors 6 3,724
Cash at bank 1,663,522
1,667,246
CREDITORS
Amounts falling due within one year 7 2,090,198
NET CURRENT LIABILITIES (422,952 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,538,067

CREDITORS
Amounts falling due after more than one year 8 18,540,434
NET LIABILITIES (2,367 )

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings (2,368 )
SHAREHOLDERS' FUNDS (2,367 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Downtown Manchester Propco Limited (Registered number: 14881706)

Balance Sheet - continued
31 March 2024


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 8 January 2025 and were signed on its behalf by:





C A McGoff - Director


Downtown Manchester Propco Limited (Registered number: 14881706)

Notes to the Financial Statements
for the Period 19 May 2023 to 31 March 2024

1. STATUTORY INFORMATION

Downtown Manchester Propco Limited is a private company, limited by shares , 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the period 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 period 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 profits.

Going concern
The company's financial statements for the period ended 31 March 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

Downtown Manchester Propco Limited (Registered number: 14881706)

Notes to the Financial Statements - continued
for the Period 19 May 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
Additions 18,961,018
At 31 March 2024 18,961,018
NET BOOK VALUE
At 31 March 2024 18,961,018

At 31 March 2024, the freehold property was still under construction and no depreciation has been provided for the period.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 1
At 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Downtown Manchester OPCO Limited
Registered office: 1 St. Georges Court, Altrincham Business Park, Altrincham, WA14 5UA
Nature of business: Letting of real estate
%
Class of shares: holding
Ordinary 100.00

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 3,724

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 333,820
Other creditors 1,756,378
2,090,198

Downtown Manchester Propco Limited (Registered number: 14881706)

Notes to the Financial Statements - continued
for the Period 19 May 2023 to 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Amounts owed to group undertakings 3,804,701
Other creditors 14,735,733
18,540,434

9. SECURED DEBTS

The following secured debts are included within creditors:

£   
Other creditors 13,685,733

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the period, the company purchased land and was provided other services to a value of £17,215,651 by an other related party. At 31 March 2024, there was £2,806,377 owed to this entity.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Downtown Manchester BTR Limited..