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COMPANY REGISTRATION NUMBER: 10820409
Urban&Civic (Manchester New Square) Limited
Unaudited Financial Statements
30 September 2024
Urban&Civic (Manchester New Square) Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Officers and professional advisers
1
Directors' report
2
Statement of financial position
3
Notes to the financial statements
4
Urban&Civic (Manchester New Square) Limited
Officers and Professional Advisers
The board of directors
W N Hugill
R E Butler
D L Wood
P A J Leech
Company secretary
Urban&Civic (Secretaries) Limited
Registered office
50 New Bond Street
London
W1S 1BJ
Accountants
BDO LLP
Chartered accountants
55 Baker Street
London
W1U 7EU
Urban&Civic (Manchester New Square) Limited
Directors' Report
Year ended 30 September 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 September 2024 .
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the company will remain dormant for the foreseeable future.
Directors
The directors who served the company during the year were as follows:
W N Hugill
R E Butler
D L Wood
P A J Leech
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption. The directors have taken advantage of the small company exemption from providing a strategic report under section 414B of the Companies Act 2006.
This report was approved by the board of directors on 10 June 2025 and signed on behalf of the board by:
D L Wood
Director
Registered office:
50 New Bond Street
London
W1S 1BJ
Urban&Civic (Manchester New Square) Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Current assets
Debtors
5
1
1
----
----
Net current assets
1
1
----
----
Total assets less current liabilities
1
1
----
----
Net assets
1
1
----
----
Capital and reserves
Called up share capital
1
1
----
----
Shareholders funds
1
1
----
----
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 June 2025 , and are signed on behalf of the board by:
D L Wood
Director
Company registration number: 10820409
The company has not traded since incorporation and therefore no statement of income has been presented. The company made neither a profit or a loss during the year or prior period and had no other recognised gains or losses.
Urban&Civic (Manchester New Square) Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 50 New Bond Street, London, W1S 1BJ. The principal activity of the company is property development .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Urban&Civic (Manchester New Square) Limited (the Company) is reliant on funding provided by Urban&Civic plc and fellow Group undertakings (the Group). Given Urban&Civic plc has provided a letter of support confirming that it shall continue to provide such support for the foreseeable future, and for a period of at least 12 months from the signing of these financial statements, the Directors consider it reasonable to rely on the continuation of this financing in making their assessment of the ability of the Company to continue as a going concern. The Directors have considered the ability of the Group to give the necessary support. Disclosures are given in the Group financial statements of Urban&Civic plc regarding its ability to continue as a going concern. Based on the Group forecasts and the assurance from Urban&Civic plc the Directors consider that the Company has adequate resources for a period in excess of 12 months from the date of approval of these financial statements and accordingly have concluded that it is appropriate for the Company to prepare its own financial statements on a going concern basis.
Disclosure exemptions
In preparing the financial statements of this company, advantage has been taken of the following disclosure exemptions as permitted by FRS102: - the requirements of Section 7 Statement of Cashflows; - the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); - the requirements of Section 11 Financial Instruments paragraph 11.39 to 11.48A; and - the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Urban&Civic Plc as at 30 September 2024 and these financial statements may be obtained from Companies House.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in shareholders funds during the current year or prior year.
Judgements and key sources of estimation uncertainty
The company makes certain estimates and assumptions regarding the future. These judgements and estimates affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates are continually evaluated based on historical experience and expectation of future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these estimates and assumptions. In preparing these financial statements, the directors have made the following judgements and estimates: Recoverability of amounts owed by group undertakings The Directors have considered whether amounts owed by group undertakings are recoverable. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the counterparties.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and subsequently at amortised cost or their recoverable amount. Impairment provisions are recognised when there is objective evidence (such as significant financial difficulties on the part of the counterparty or default or significant delay in payment) that the company will be unable to collect all of the amounts due under the terms receivable. The amount of such a provision is the difference between the net carrying amount and the present value of the future expected cash flows associated with the impaired receivable. For trade debtors, which are reported net, such provisions are recorded in a separate allowance account with the loss being recognised within administrative expenses. On confirmation that the trade debtor will not be collectable the gross carrying value of the asset is written off against the associated provision.
Financial liabilities
Financial liabilities including trade creditors, other creditors, accruals and amounts due to group undertakings are originally recorded at fair value and subsequently stated at amortised cost under the effective interest method.
4. Operating profit/ (loss)
Auditors remuneration was borne by another group company in the current and prior period.
The company has no employees other than the directors who did not receive any remuneration (2023: £nil).
5. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1
1
----
----
6. Related party transactions
The company has taken advantage of the exemption allowed by FRS 102 Section 33, 'Related Party Disclosures', not to disclose any transactions with entities that are included in the consolidated financial statements of Urban&Civic plc and are 100% owned.
7. Controlling party
The company's immediate parent undertaking is Urban&Civic North East Limited which is registered in England and Wales . The ultimate parent undertaking of the company is the Wellcome Trust, exercising control through its corporate trustee, The Wellcome Trust Limited. The largest Group which consolidate the results of the Company are those of Urban&Civic plc. The results of Urban&Civic plc are not consolidated at a higher level. The Wellcome Trust holds a portfolio of investments, which are accounted for at fair value through profit or loss in its financial statements. Copies of the Wellcome Trust Annual Report and Financial Statements are available from Wellcome Trust's website (www.wellcome.org/news-and-reports/reports).