REGISTERED NUMBER: 01486410 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

WIGAN METROPOLITAN DEVELOPMENT

COMPANY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

F B Walker

DT Molyneux

K Cunliffe

Mrs N T Rehman

A R Thatcher

J J Lowe

REGISTERED OFFICE:

Wigan Investment Centre

Waterside Drive

Wigan

Lancashire

WN3 5BA

REGISTERED NUMBER:

01486410 (England and Wales)

AUDITORS:

Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

The Co-operative Bank plc

PO Box 101

1 Balloon Street

Manchester

M60 4EP

FIXED ASSETS

Investments

4

676,414

676,414

CURRENT ASSETS

Debtors

5

1,043,110

1,043,110

Cash at bank

851

851

1,043,961

1,043,961

NET CURRENT ASSETS

1,043,961

1,043,961

TOTAL ASSETS LESS CURRENT LIABILITIES

1,720,375

1,720,375

RESERVES

Other reserves

2,000,000

2,000,000

Retained earnings

(279,625

)

(279,625

)

1,720,375

1,720,375

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 17 December 2025 and were signed on its behalf by:

DT Molyneux - Director

K Cunliffe - Director

1.	STATUTORY INFORMATION

Wigan Metropolitan Development Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Preparation of consolidated financial statements

The financial statements contain information about Wigan Metropolitan Development Company Limited 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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable. Basic financial instruments are recognised at cost.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Shares in Investment company

676,414

676,414

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Wigan Metropolitan Development Company (Investment) Limited

Registered office:

Nature of business: management of investments and industrial premises

%

Class of shares:

holding

£1 Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

6,216,137

6,467,071

(Loss)/profit for the year

(250,934

)

51,089

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

1,043,110

1,043,110

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

The Report of the Auditors was unqualified.

Louise Webster BSc BFP ACA (Senior Statutory Auditor)

for and on behalf of Fairhurst Audit Services Ltd

7.	CONTINGENT LIABILITIES

The Company's banking arrangements are subject to an unlimited multilateral guarantee entered into by Wigan Metropolitan Development Company (Investment) Limited and this Company to secure any borrowings by these Companies.

8.	OTHER FINANCIAL COMMITMENTS

In respect of all bank accounts there is a Letter of Set Off confirming that the bank's common law right of set off between accounts of the company which are in debit and credit may be exercised without prior notice supporting the resolution held dated 19 May 1993.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Board of Directors.

10.	DEVELOPMENT FUND

The initial funding of the Company was provided by Wigan Metropolitan Borough Council, who made contributions to the Company's Development Fund totalling £2 million. The payments are subject to the provisions of a funding agreement entered into between the Company and the Council. In the event of it's winding up or dissolution the Company is required to repay the funding to the Council to the extent that resources are available or otherwise transfer it to some other institution or body as the Council may direct. The funding is consequently shown in the Company's accounts as capital.

11.	LIMITED BY GUARANTEE

The Company is a Company limited by guarantee. The main board members have each, in the event of a winding up undertaken to contribute an amount not exceeding £1.