For the year ended 31 December 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its accounts for the year ended 31 December 2024 in accordance with section 476 of the Companies Act 2006.

The director acknowledges their responsibilities for complying with the requirments of the Companies Act 2006 with respect ot accounting records and the preparation of accounts.

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

The annual financial statements were approved and authorised for issue by the Board of Directors on 29 September 2025.

Exchange Parking Limited is a private company limited by shares, registered in England and Wales. The address of the registered office and registration number are as below:

c/o Zedra

Booths Hall, Booth Parks 3

Chelford Road

Cheshire

WA16 8GS

These annual financial statements have been prepared in accordance with FRS 102 the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland as adapted by Section 1A of FRS 102 and the Companies Act 2006. The company constitutes a public benefit entity as defined by FRS 102.

The nature of the company's operations and principal activities are principal activity is the management of a multi-storey car park at a development known as Exchange Quay, Salford, Greater Manchester.

The financial statements have been prepared on a going concern basis. The Director has assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing these financial statements.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occuring afer the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities, including trade and other payables, are initially measured at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obigation is discharges, cancelled or expires.

Income is provided for on an accrual basis to the extent that it is recoverable. Turnover is measured at fair value of the consideration received or receivable represents amounts charged to customers of the company for services in the United Kingdom, net of Value Added Tax.

Expenses are accounted for on an accrual basis.

In preparing the financial statements, estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are addressed below:

i) The management of the Company determines whether closing trade debtor balances are deemed fully collectable. This action requires a review of aged debt balances and the economic viability of tenants owning monies, using judgement to estimate the amount of impairment loss to recognise through profit or loss.

The Company has no employees other than the Director who received no remuneration during the year (2023: Nil).

The Director considers that the immediate parent undertaking is Exchange Quay Salford UK S.a.r.l., a company registered in Luxembourg. The ultimate controlling party is considered to be Magnesium Holding Company 1 S.a.r.l., a company registered in Luxembourg. The financial statements for these companies can be obtained from their registered offices.

The Company has taken advantage of the exemption available in FRS 102 Section 33 "Related party disclosures" whereby it has not disclosed transaction with the ultimate parent company or any wholly owned subsidiary undertaking of the group.