REGISTERED NUMBER: 04548636 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Wythenshawe Forum Trust Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

988,418

1,393,229

CURRENT ASSETS

Debtors

5

917,371

446,795

Cash at bank and in hand

354,085

263,031

1,271,456

709,826

CREDITORS

Amounts falling due within one year

6

1,504,592

970,123

NET CURRENT LIABILITIES

(233,136

)

(260,297

)

TOTAL ASSETS LESS CURRENT LIABILITIES

755,282

1,132,932

CREDITORS

Amounts falling due after more than one year

7

755,282

1,132,932

NET LIABILITIES

-

-

RESERVES

-

-

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2025 and were signed on its behalf by:

Councillor G Evans - Director

1.	STATUTORY INFORMATION

Wythenshawe Forum Trust Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04548636

Registered office:

Wythenshawe Forum Centre

Forum Square

Wythenshawe

Manchester

M22 5RX

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going Concern

The financial statements have been prepared on a going concern basis, which presumes that the company will continue to receive financial support from Manchester City Council via contracted service fees and other related income. Manchester City Council are contracted to use the company to manage Wythenshawe Forum until 2040, by which date the contract will be reviewed.

On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. The directors are not aware of any reason why the arrangement with Manchester City Council would be materially modified notwithstanding the ongoing uncertainty attaching to public sector expenditure at the present time.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, and therefore the financial statements have been prepared on a going concern basis.

Turnover

Turnover represents income and grants receivable and are described below.

Sales in respect of the use of leisure facilities at the Wythenshawe Forum are accounted for on a receivable basis net of value added tax where applicable.

Rental income is included in the profit and loss account in the period in which it arises under the relevant agreements.

Grants and service fees are recognised on an accruals basis and matched to the related expenditure.

Grants and services fees received towards revenue expenditure are recognised within turnover in the same period as the related expenditure. Any revenue grant or service fee received towards future expenditure is treated as deferred income.

Grants received towards capital expenditure are treated as deferred income and are credited to the profit and loss amount on a basis consistent with the depreciation policy of the related asset.

Tangible fixed assets

Tangible fixed assets are stated at cost. Improvements to leased property include directly attributable professional fees and irrecoverable VAT.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to leased property - over the remaining term of the lease.

Fixtures, fittings and equipment - 5 -6 years straight line based on cost.

Gym Equipment - 7 years straight line based on cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 90 (2024 - 94 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Improvements

fittings

to

and

property

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

9,515,555

48,423

9,563,978

DEPRECIATION

At 1 April 2024

8,124,963

45,786

8,170,749

Charge for year

404,152

659

404,811

At 31 March 2025

8,529,115

46,445

8,575,560

NET BOOK VALUE

At 31 March 2025

986,440

1,978

988,418

At 31 March 2024

1,390,592

2,637

1,393,229

The company entered into an agreement to lease the Wythenshawe Forum from Manchester City Council for a period of 37 years from 7 February 2003 at a Red Rose (peppercorn) rent.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

567,922

71,053

Other debtors

113,753

130,076

Prepayments and accrued income

235,696

245,666

917,371

446,795

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

202,455

262,614

Corporation tax

6,371

5,597

VAT

174,430

70,424

Other creditors

16,287

109,545

Accruals and deferred income

365,825

85,066

Accruals and deferred income

due to Manchester City Council

739,224

436,877

1,504,592

970,123

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Accruals and deferred income due to Manchester City Council

755,282

1,132,932

During the year, the company recognised deferred income and service fees relating to Manchester City Council totalling £619,650 (2024: £754,650). This amount comprises a release of £377,650 (2024: £377,650) of brought forward deferred income and service fees of £242,000 (2024: £377,000).

At 31 March 2025, accruals and deferred income relating to Manchester City Council totalled £1,494,506 (2024: £1,569,809). Included within this balance is £755,282 (2024: £1,132,932) in respect of capital expenditure. With regard to deferred capital grants £377,650 (2024: £377,650) is shown as due within one year (reflecting expected release) and £755,282 (2024: £1,132,932) is shown as due after more than one year (reflecting expected release). The movement in total deferred capital grants during the year ended 31 March 2025 comprised an amortisation release of £377,650 (2024: £377,650).

During the year deficit funding is owed to Manchester City Council amounting to £302,347. However, in 2024, the deficit funding was reallocated back to Manchester City Council, being £138,912.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jeremy Bostock BA BFP FCA (Senior Statutory Auditor)

for and on behalf of Thompson Wright (Audit) Limited

9.	RELATED PARTY DISCLOSURES

The Articles of Association of the company provide that Manchester City Council may appoint up to three directors provided that at all times the number of directors associated with Manchester City Council as defined in Section 69 of the Local Government and Housing Act 1989 shall be less than 20% of the total number of directors of the company. During this period one director and one alternate director held senior positions with Manchester City Council.

Transactions with Manchester City Council during the year ended 31 March 2025 were as follows:-

The company has an agreement to lease the Wythenshawe Forum from Manchester City Council for a period of 25 years from 7 February 2003 at a Red Rose (peppercorn) rent. This was extended by 12 years and now ends on, and includes 31 March 2040.

Manchester City Council entered into an agreement dated 7 February 2003 to lease the library zone within the Wythenshawe Forum from the company for a 21 year period. During the year ended 31 March 2025, total rents and service charges of £396,974 (2024: £281,558) were charged to Manchester City Council.

The company has a service fee funding agreement with Manchester City Council dated 7 February 2003. The income and expenditure account for the year ended 31 March 2025 recognises service fees totalling £242,000 (2024: £377,000) and the release of deferred grants totalling £377,650 (2024: £377,650).

At 31 March 2025, the following amounts were included in creditors relating to Manchester City Council in respect of deferred capital grants: £755,282 (2024: £1,132,932). See note 10 for further analysis and commentary.

At 31 March 2025, £133,299 (2024: £79,654) is included in trade creditors, being due to Manchester City Council.

Owing to the nature of the Company's operations and the composition of the board of directors being drawn from local public and private sector organizations, it is inevitable that transactions will take place with organisations in which a member of the board of directors may have an interest. All transactions involving such organisations are conducted at arm's length and in accordance with the Company's financial regulations and normal procurement procedures.

10.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11.	SHARE CAPITAL

Wythenshawe Forum Trust Limited is a company limited by guarantee and does not have any share capital. Each member's liability is limited to £1.