Company registration number 05292634 (England and Wales)
URBAN VISION PARTNERSHIP LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
URBAN VISION PARTNERSHIP LIMITED
COMPANY INFORMATION
Directors
E Bell
A W Parfitt
Capita Corporate Director Limited
(Appointed 6 June 2025)
S Corrigan
(Appointed 4 July 2025)
Secretary
Capita Group Secretary Limited
Company number
05292634
Registered office
First Floor
2 Kingdom Street
Paddington
London
England
W2 6BD
Banker
Barclays Bank PLC
1 Churchill Place
London
United Kingdom
E14 5HP
URBAN VISION PARTNERSHIP LIMITED
CONTENTS
Page
Directors' report
1 - 2
Income statement
3
Balance sheet
4
Statement of changes in equity
5
Notes to the financial statements
6 - 11
URBAN VISION PARTNERSHIP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The Directors present their Directors' r eport and f inancial statements for the year ended 31 December 2024.

Principal activities

Urban Vision Partnership Limited ('Company') is jointly owned by Capita Business Services Ltd (50.1%), Salford City Council (19.9%) and Galliford Try Infrastructure Limited (30%). The Company operates within the Public Service segment of Capita Plc, of which Capita Business Services Ltd is a subsidiary. Capita plc along with its subsidiaries are hereafter referred to as 'the Group'.

The principal activity of the Company was that of planning, design, maintenance and management of property and infrastructure schemes and the implementation of highway works. The Company’s main contract expired at the end of January 2020 and following that date, the Company has taken steps to orderly wind down its affairs. Based on this, after careful review of future business, the Directors have concluded that a going concern basis of accounting is not appropriate.

Review of the business

The Company's profit before tax has marginally increased from £78,299 in 2023 to £99,360 in 2024 mainly because of interest income on bank balance.

The balance sheet on page 4 of the financial statements shows the financial position at the year end. Net assets have increased from £2,061,752 in 2023 to £2,136,272 in 2024 driven by the profit during the year.

Details of the amounts owed by/to its parent company and fellow subsidiary companies are shown in notes 5, 7 and 11 to the financial statements.

Results and dividends

The results for the year are set out on page 3.

No dividend was declared or paid during the year (2023: £nil).

Directors

The Directors who held office during the year and up to the date of signature of the financial statements were as follows:

D Seager
(Resigned 4 July 2025)
E Bell
A W Parfitt
N Garfield
(Resigned 28 February 2025)
Capita Corporate Director Limited
(Appointed 6 June 2025)
S Corrigan
(Appointed 4 July 2025)

Environment

Capita plc recognises the importance of its environmental responsibilities, monitors its impact on the environment, and designs and implements policies to reduce any damage that might be caused by the Group’s activities. The Company operates in accordance with Group policies, which are described in the Group’s annual report which does not form part of this report. Initiatives designed to minimise the Company’s impact on the environment include safe disposal of waste, recycling and reducing energy consumption.

Qualifying third party indemnity provisions

The C ompany has granted an indemnity to the D irectors of the C ompany against liability in respect of proceedings brought by third parties, subject to the conditions set out in the Companies Act 2006. Such qualifying third party indemnity provision remains in force as at the date of approving the D irectors' report.

Political donations

The Company made no political donations and incurred no political expenditure during the year (2023: £nil).

URBAN VISION PARTNERSHIP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Post balance sheet date events

There are no significant events which have occurred after the reporting period.

Statement of Directors' responsibilities

The Directors are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the D irectors to prepare financial statements for each financial year. Under that law they have elected to prepare the financial statements in accordance with UK accounting standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 101 Reduced Disclosure Framework.

Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the D irectors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- assess the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and as explained in the note 1.1 of the financial statements, the Directors do not believe the going concern basis to be appropriate and these financial statements are not prepared on that basis.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Company and to prevent and detect fraud and other irregularities.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
D Howitt on behalf of Capita Corporate Director Limited
Director
15 September 2025
URBAN VISION PARTNERSHIP LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
2024
2023
Notes
£
£
Administrative income/(expenses)
20
(39)
Net finance income
3
99,340
78,338
Profit before tax
99,360
78,299
Income tax charge
4
(24,840)
(17,955)
Profit and total comprehensive income for the year
74,520
60,344

The income statement has been prepared on the basis that all operations have been discontinued.

The notes and information on pages 6 to 11 form an integral part of these financial statements.

URBAN VISION PARTNERSHIP LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 4 -
2024
2023
Notes
£
£
Current assets
Trade and other receivables
5
175
84
Cash and cash equivalents
6
2,205,006
2,108,664
Total assets
2,205,181
2,108,748
Current liabilities
Trade and other payables
7
24,344
25,978
Income tax payable
44,565
21,018
Total liabilities
68,909
46,996
Net assets
2,136,272
2,061,752
Capital and reserves
Issued share capital
8
1,000
1,000
Retained earnings
2,135,272
2,060,752
Total equity
2,136,272
2,061,752

The notes and information on pages 6 to 11 form an integral part of these financial statements.

For the financial year ended 31 December 2024, the Company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the C ompany to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

These financial statements were approved by the board of directors and authorised for issue on
15 September 2025
15 September 2025
and are signed on its behalf by:
D Howitt on behalf of Capita Corporate Director Limited
Director
Company registration number 05292634 (England and Wales)
URBAN VISION PARTNERSHIP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
Share capital
Retained earnings
Total equity
£
£
£
At 1 January 2023
1,000
2,000,408
2,001,408
Profit for the year
-
60,344
60,344
At 31 December 2023
1,000
2,060,752
2,061,752
Profit for the year
-
74,520
74,520
At 31 December 2024
1,000
2,135,272
2,136,272
Share capital

The balance classified as share capital is the nominal proceeds on issue of the Company's equity share capital, comprising 1000 ordinary shares of £1 each.

Retained earnings

Net profits accumulated in the Company after dividends are paid.

The notes and information on pages 6 to 11 form an integral part of these financial statements.

URBAN VISION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
1
Accounting policies
1.1
Basis of preparation

Urban Vision Partnership Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, 2 Kingdom Street, Paddington, London, England, W2 6BD.

In determining the appropriate basis of preparation for the financial statements for the year ended 31 December 2024, the Company’s Directors (‘the Directors’) are required to consider whether the Company can continue in operational existence for the foreseeable future, being a period of at least 12 months following the approval of these accounts.

The principal activity of the Company ceased in January 2020 when company’s main contract expired. The Directors have therefore prepared the financial statements a non-going concern basis as at 31 December 2024. As a consequence, the Directors have considered the adjustments required to prepare the financial statement on a non-going concern basis. The expected realisable and settlement values for current assets and liabilities are not considered to be materially different from their carrying value at the balance sheet date. Therefore, the Directors have considered that no further adjustments are required as a result of preparing the financial statements on a non-going concern basis.

1.2
Compliance with accounting standards

The Company has applied FRS101 – Reduced Disclosure Framework in the preparation of its financial statements.

The Company has prepared and presented these financial statements by applying the recognition, measurement and disclosure requirements of international accounting standards in conformity with the requirements of the Companies Act 2006.

The Company's ultimate parent company, Capita plc, includes the Company in its consolidated statements. The consolidated financial statements are prepared in accordance with international accounting standards in conformity with the requirements of the Companies Act 2006 and with UK-adopted International Financial Reporting Standards ('UK-IFRSs') and the Disclosure and the Transparency Rules of the UK's Financial Conduct Authority. They are available to the public and may be obtained from Capita plc’s website on https://www.capita.com/investors .

In these financial statements, the Company has applied the disclosure exemptions available under FRS 101 in respect of the following disclosures:

- A cash flow statement and related notes;

- Comparative period reconciliations for share capital, tangible fixed assets and intangible assets;

- Disclosures in respect of transactions with wholly owned subsidiaries;

- Disclosures in respect of capital management;

- The effects of new but not yet effective IFRSs;

- Disclosures in respect of the compensation of key management personnel

Since the consolidated financial statements of Capita plc include equivalent disclosures, the Company has also taken the disclosure exemptions under FRS 101 available in respect of certain disclosures required by IFRS 7 Financial Instrument Disclosures and certain disclosure exemptions as permitted by IFRS 13 Fair value measurement.

URBAN VISION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.3
Change in accounting policies

The Company has adopted the new amendments to standards detailed below but they do not have a material effect on the Company's financial statements.

New amendments or interpretations | Effective date
Classification of liabilities as current or non-current and non-current liabilities with Covenants - Amendments to IAS 1 | 1 January 2024
Lease Liability in a Sale and Leaseback - Amendments to IFRS 16 | 1 January 2024
Supplier Finance Arrangements - Amendments to IAS 7 and IFRS 7 | 1 January 2024

1.4
Financial instruments

Trade and other receivables

The trade and other receivables have been measured and presented at their expected realisable values.

Trade and other payables

The trade and other payables have been measured and presented at their expected settlement values.

Cash and cash equivalents

Cash and short-term deposits in the balance sheet comprise cash at bank and in hand and short-term deposits with original maturities of three months or less that are readily convertible in to known amounts of cash and which are subject to an insignificant risk of change in value. Bank overdrafts are shown within current financial liabilities.

1.5
Taxation

Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the income statement except to the extent that it relates to items recognised directly in equity or other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.

Deferred tax is provided, using the liability method, on all temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes.

Deferred tax assets are recognised for all deductible temporary differences, carry-forward of unused tax assets and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry-forward of unused tax assets and unused tax losses can be utilised, except where the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss.

The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the balance sheet date.

URBAN VISION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2
Significant accounting judgements, estimates and assumptions

The preparation of financial statements in accordance with generally accepted accounting principles requires the D irectors to make judgements and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies at the date of the financial statements and the reported income and expense during the presented periods. Although these judgements and assumptions are based on the D irectors’ best knowledge of the amount, events or actions, actual results may differ.

3
Net finance income
2024
2023
£
£
Interest income
Interest income on bank balance
99,387
78,338
99,387
78,338
Interest expense
Interest on other loans
(47)
-
0
(47)
-
0
Total net finance income
99,340
78,338
4
Income tax
The major components of income tax charge are:
2024
2023
£
£
Current tax
UK corporation tax
24,840
17,955
URBAN VISION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4
Income tax
(Continued)
- 9 -

The reconciliation between tax charge and the accounting profit multiplied by the UK Corporation tax rate for the years ended 31 December 2024 and 2023 is as follows:

2024
2023
£
£
Profit before taxation
99,360
78,299
Expected tax charge based on the weighted average Corporation Tax rate of 25.00% (2023: 23.52%)
24,840
18,416
Movement in deferred income tax recognition
-
6
Adjustments in respect of current income tax of prior periods
-
(467)
Total adjustments
-
(461)
Total tax charge reported in the income statement
24,840
17,955

A change to the main UK corporation tax rate was substantively enacted on 24 May 2021. The rate applicable from 1 April 2023 increased from 19% to 25%. The deferred tax asset at 31 December 2024 has been calculated based on the 25% rate.

In accordance with the stated accounting policy for taxation in note 1.5 to the financial statements, the utilisation and recognition of a deferred tax asset is dependent on the existence of sufficient future taxable profits. As at 31 December 2024, based on forecast profits, the Company has concluded in line with the stated policy that no deferred tax asset should be recognised in respect of tax losses of £2,019,234 (2023: £2,019,234).

5
Trade and other receivables
Current
2024
2023
£
£
VAT recoverable
-
0
83
Amounts due from Group companies
175
1
175
84

Amounts due from G roup companies are repayable on demand and are not chargeable to interest.

URBAN VISION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
6
Cash and cash equivalents
2024
2023
£
£
Cash at bank and in hand
2,205,006
2,108,664
2,205,006
2,108,664
7
Trade and other payables
Current
2024
2023
£
£
Amount due to Group companies
18
136
Accruals
24,326
25,842
24,344
25,978

Amounts due to Group companies are repayable on demand and are not chargeable to interest.

8
Share capital
2024
2023
2024
2023
Number
Number
£
£
Allotted, called up and fully paid
Ordinary A shares of £1 each
199
199
199
199
Ordinary B shares of £1 each
501
501
501
501
Ordinary C shares of £1 each
300
300
300
300
At 1 January and 31 December
1,000
1,000
1,000
1,000
9
Employees

There were no employees during the year apart from the Directors (2023: nil).

10
Directors' remuneration

All Directors are paid by other companies within the Capita Group or Joint venture partners. The Company has not paid any fees or other remuneration to the Group based Directors related to the directorship role they provided to the Company as a part of their Group-wide executive management role. The Company has estimated that allocation of the qualifying services that these Group based Directors provided to the Company is inconsequential.

11
Related party transactions

During the year the C ompany entered into the following transactions with related parties:

URBAN VISION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11
Related party transactions
(Continued)
- 11 -
Intercompany transactions
Income
Expenses
2024
2023
2024
2023
£
£
£
£
Group companies
Capita Business Services Ltd
450
-
823
522
Capita Shared Services Limited
1,393
1,380
2,776
2,826
Capita Property & Infrastructure Limited
-
172
-
86
Agitto Limited
-
-
-
86
1,843
1,552
3,599
3,520

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Capita Shared Services Limited
-
99
12
Post balance sheet date events

There are no significant events which have occurred after the reporting period.

2024-12-31 2024-01-01 D Seager E Bell A W Parfitt N Garfield Capita Corporate Director Limited S Corrigan Capita Group Secretary Limited false CCH Software iXBRL Review & Tag 2022.2 0 Company entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies The members have not required the company to obtain an audit Accounts have been prepared in accordance with the provisions of the small companies regime 05292634 2024-01-01 2024-12-31 05292634 bus:Director2 2024-01-01 2024-12-31 05292634 bus:Director3 2024-01-01 2024-12-31 05292634 bus:Director5 2024-01-01 2024-12-31 05292634 bus:Director6 2024-01-01 2024-12-31 05292634 bus:CompanySecretary1 2024-01-01 2024-12-31 05292634 bus:Director1 2024-01-01 2024-12-31 05292634 bus:Director4 2024-01-01 2024-12-31 05292634 bus:RegisteredOffice 2024-01-01 2024-12-31 05292634 bus:Agent1 2024-01-01 2024-12-31 05292634 2024-12-31 05292634 2023-01-01 2023-12-31 05292634 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 05292634 core:CurrentFinancialInstruments 2024-12-31 05292634 core:CurrentFinancialInstruments 2023-12-31 05292634 2023-12-31 05292634 core:RetainedEarningsAccumulatedLosses 2024-12-31 05292634 core:RetainedEarningsAccumulatedLosses 2023-12-31 05292634 core:RetainedEarningsAccumulatedLosses 2022-12-31 05292634 2022-12-31 05292634 core:ShareCapital 2024-12-31 05292634 core:ShareCapital 2023-12-31 05292634 1 2024-01-01 2024-12-31 05292634 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05292634 bus:FRS101 2024-01-01 2024-12-31 05292634 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05292634 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP