The Directors present their Directors' report and financial statements for the year ended 31 December 2025.

Urban Vision Partnership Limited ('the 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 £99,360 in 2024 to £109,576 in 2025 primarily reflecting higher administrative income in the current year which is partially offset by a reduction in finance income compared with 2024.

The balance sheet on page 4 of the financial statements shows the financial position at the year end. Net assets have increased from £2,136,272 in 2024 to £2,224,205 in 2025 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.

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

No dividend was declared or paid during the year (2024: £nil).

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

Environment

The Company 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 it's activities. The Company operates in accordance with Group policies, which are described in the Group’s 2025 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.

The Company has granted an indemnity to the Directors of the Company 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 Directors' report.

The Company made no political donations and incurred no political expenditure during the year (2024: £nil).

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

Company law requires the Directors 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 Directors 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.

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

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.

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

For the financial year ended 31 December 2025, 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 Company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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 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 2025, 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 on a non-going concern basis as at 31 December 2025. 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.

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 UK-adopted International Accounting 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;

•     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.

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

Lack of exchangeability – Amendments to IAS 21                    1 January 2025

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.

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.

The preparation of financial statements in accordance with generally accepted accounting principles requires the Directors 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 Directors’ best knowledge of the amount, events or actions, actual results may differ.

The reconciliation between tax charge and the accounting profit multiplied by the UK Corporation tax rate for the years ended 31 December 2025 and 2024 is as follows:

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 2025, 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 £1,996,228 (2024: £2,019,234).

Amounts due from Group companies are repayable on demand and non-interest bearing.

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

There were no employees during the year apart from the Directors (2024: none).

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.

During the year the Company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

The Company is controlled by its immediate parent company, Capita Business Services Limited, a Company incorporated in England and Wales with a share holding of 50.1%.

Salford City Council hold 19.9% of the Company's shares and Galliford Try Infrastructure Limited hold 30% of the Company's shares.

The ultimate parent company is Capita plc, a company registered in England & Wales. Capita plc prepares Group financial statements and copies can be obtained from the registered office at First Floor, 2 Kingdom Street, Paddington, London, England, W2 6BD, and on its website www.capita.com/investors.

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