REGISTERED NUMBER: 02819935 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

ROCHDALE DEVELOPMENT AGENCY

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms J C Heap

S C Kuncewicz

P A Ormerod

P E Simkiss

A J Holden

S K Anstee

D J Meredith

J Binks

Miss A J Gilmore

SECRETARY:

S C Kuncewicz

REGISTERED OFFICE:

Number One Riverside

Smith Street

Rochdale

Lancashire

OL16 1XU

REGISTERED NUMBER:

02819935 (England and Wales)

AUDITORS:

TC Group

Statutory Auditors

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

FIXED ASSETS

Tangible assets

4

763

-

Investments

5

98

98

861

98

CURRENT ASSETS

Debtors

6

423,058

136,719

Cash at bank

847,360

416,385

1,270,418

553,104

CREDITORS

Amounts falling due within one year

7

900,234

228,773

NET CURRENT ASSETS

370,184

324,331

TOTAL ASSETS LESS CURRENT LIABILITIES

371,045

324,429

RESERVES

Income and expenditure account

371,045

324,429

371,045

324,429

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 9 December 2025 and were signed on its behalf by:

P A Ormerod - Director

1.	STATUTORY INFORMATION

Rochdale Development Agency is a private company, limited by guarantee , 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.

Preparation of consolidated financial statements

The financial statements contain information about Rochdale Development Agency as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the process of applying the entity's accounting policies management have not made any judgements that would have a significant effect on the amounts recognised in the financial statements. No estimations have been made that would have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover represents amounts receivable for funding from RBC and other external bodies.

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful economic life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Revenue for contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation 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 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.

Retirement benefits

The company does not operate its own pension scheme, but the employees are eligible to join the local government scheme provided by GMPF.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2024 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

2,195

Additions

1,145

At 31 March 2025

3,340

DEPRECIATION

At 1 April 2024

2,195

Charge for year

382

At 31 March 2025

2,577

NET BOOK VALUE

At 31 March 2025

763

At 31 March 2024

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

98

NET BOOK VALUE

At 31 March 2025

98

At 31 March 2024

98

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

Pennine Land Limited

Registered office: Number One Riverside, Smith Street, Rochdale, Greater Manchester, OL16 1XU

Nature of business: Non trading company

%

Class of shares:

holding

Ordinary £1

98.00

2025

2024

£

£

Aggregate capital and reserves

(110,076

)

(110,121

)

Profit/(loss) for the year

45

(234

)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

341,567

79,581

Other debtors

2,419

5,229

Prepayments and accrued income

79,072

51,909

423,058

136,719

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

595,217

17,116

Amounts owed to group undertakings

22,164

22,587

Corporation tax

14,718

-

Social security and other taxes

-

40,772

VAT

33,098

86,876

Other creditors

26,029

31,263

Deferred income

189,845

24,984

Accrued expenses

19,163

5,175

900,234

228,773

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

The Report of the Auditors was unqualified.

Tanya Brown (Senior Statutory Auditor)

for and on behalf of TC Group

9.	PENSION COMMITMENTS

The company offers its staff access to a defined contribution pension scheme provided by GMPF. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £291,231 ( 2024 - £256,500).

Included in other creditors for pension contributions not paid over amounted to £nil (2024 - £31,263).

10.	RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with Rochdale Borough Council ("RBC"), a connected undertaking:

Received grant and related monies from RBC totalling £621,440 (2024 - £615,295).

Incurred property rent (under a licence) and service charge costs, either directly with or on behalf of RBC, £26,040 (2024 - £26,040).

During the year the company recharged payroll expenses amounting to £1,370,534 (2024 - £1,351,280) to RBC.

At 31 March 2025, RBC owed the company £12,588 (2024 - £79,473) and the company owed £375,893 (2024 - £3,008) to RBC. These amounts are included in trade debtors and trade creditors respectively.

At 31 March 2025, the company owed Pennine Land Limited (it's subsidiary undertaking) £22,164 (2024 : £22,587).

11.	ULTIMATE CONTROLLING PARTY

At 31 March 2025, the company's ultimate controlling party was Rochdale Borough Council, the only member of the company.

The company is limited by guarantee and therefore has no share capital. As a condition of membership, each member of the company undertakes to contribute such amount as may be required (up to a maximum of £1) to the company's assets if it should be wound up while he/she is a member or within one year after he/she ceases to be a member.