Company Registration Number 2913221 Charity ReE5stration Number 1040342 REPORT OF THE DIRECTORS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 FOR THE MANCHESTER CONCERT HALL LIMITED AEHR7F9E 1911212025 COMPANIES HOUSE A33
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THE MANCHESTER CONCERT HALL LIMITED CONTENTS OF THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Page Company Information Report of The Directors 2to5 Independent Examiners Report Statement of Flnanclal Position Balance Sheet Notes to the Financlal Statements 9t012
THE MANCHESTER CONCERT HALL UMITED COMPANY INFORMATION FOR THE YEAR EIYDED 31ST MARCH ZOZS DIRECTORS: Marlan Kathryn Sudbury OBE Professor Thomas Christian Schmldt . Mark Dobson sal Fuller Cook Vaqas Farooq John Gerard Rooney Drjo Yee Cheung Steven Jame5 Lind50V Joan Elizabeth Davies Nicholas Britton Trygstad Resigned 26th June 2025 Appolnted 11 Aprll 2024 Appointed 9 May 2024 REGISTERED OFFICE: Manchester Professional Servlces Llmited Level S, Town Hall Extenslon Albert Square Manchester M60 2LA COMPANY NUMBER: CHARITY NUMBER: 2913221 1040342 SECRETARY: Manchester Professional Service5 Limited Level 5, Town Ha51 Extension Albert Square Manchester M60 2L4 INDEPENDENT EXAMINERS: Percy Westhead & Companv Chartered Accountants Hanover Hovse 30-32 Charlotte Street Manchester M14FD 8ANKERS: Barclays Bank PLC 51 Mosley Street Manchester M2 3HQ
THE MANCHESTER CONCERT HALL LIMITED REPORT OF THE DIREcfoRS FOR THE YEAR ENDED 31ST MARCH 2025 The Directors present their report and financial statements for the year ended 31 March 2025. STRUCTURE, GOVERNANCE AND MANAGEMENT The Board currently con515ts of the Chair and eight Dlrectors. The Board receives detailed papers on the business to be conducted at each meeting In advance. All Directors have access to the advice and services of the Cornpanysecretary. The Company Secretary is responsible for advising the Board on governance matters and for ensuring compliance with Board procedures. Directors are appointed for their legal, financial, business, artistic and community engagement and receive Inductlon on appointment to.the Board that has been tailored to thelr indlvidual needs. Away Days and training sessions are organised to support Board development as and when they are required. The Chief Executive of the 8ridgewater Hall, employed by ASM Global (formerly SMG Europe Holdings Llmited) attends Board meetings to. present progress reports on the dellvery of the management agreement. Manchester Concert Hall Limited is committed to working towards the highest standards of governance as set out in the Charlty Governance Code. The Board has approved a Code of Conduct for trustees. OBJECTIVES AND AcfiviTIES The Manchester Concert Hall Limited, a company IiTnited by guarantee (reg no. 2913221) and does not have any Share capital. It is a550 a registered charity (reg no. 10403421. The objects for which the Company is estsblished are to promote, maintain, improve, develop and advance public educatlon by the encouragement of the arts, includlng muslc, opera, drama, singin8, mime, dancing, paintin8, sculpture, cinema, literature and other arts and in particular provision of and operation of a Concert Hall in the city of Manchester. The Dirertors are also trustees of the charity and confirm that they have complied with the duty in section 1715) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission on public benefit.
THE MANCHESTER CONCERT HALL LIMITED REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025- continued The Company's re5ponslblllty Is the provision and operation of the Hall, which is Manchesterf5 principal Concert Hall. The Hall is leased from Manchester City Council (The Council) to the Company at one red rose rental for a period of 35 years. The Company is responsible within the lease for the operation of the Hall on term5 acceptable to the Council and the Company. The Company Itself has no flxed assets. Under the current rnanagement agreement, the Company has appointed ASM Global as operator to manage the Hall on its behalf. The Manchester Corncert Hall Limlted board met on 6 occasions during this period. Plans for future periods It Is envisaged that the company wlll cease activlty during the 12 months followin8 the date of this report. Financial Review The accounts are prepared under the historlcal cost conventlon and In accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and In compliance with the provisions of part 15 of the Companies Act 2006 and the Charities Act 2011. The Company's balance sheet as at 31 March 2025 shows a balance of £69,246 on the General Fund 12023/24 £65,806). This balance remains sufficient to meet all outgoing items of expenditure and future plans and commitments, As the operator makes no further contributions, the Council has a direct responsibility for the replacement of items of capital equlpment within the Hall. The operator still has a responsiblllty for the day-to-day maintenance costs of the bulldin8 and the costs for preparation of a new tender. The Company recesved incorne from the Hallé Concerts Society by way of rent. Expendlture represents management and adminlstration costs and costs in monitoring the operator's performance In accordance with the Management Agreement. The company did not engage in any investment activity durlng the financlal year.
THÉ MANCHESTER CONCERT HALL LIMITED REPORT OF THE DIREcfoRS FOR THE YEAR ENDED 31ST MARCH 2025- continued Dlrectors and thelr Interests The Company is limlted by guarantee and the Dlrertors were all guarantors at the year-end. The Council may appoint up to two Directors of the Company. The malor rlsks to which the charity is exposed, as identlfied by the Directors, have been reviewed in the past but will need to be reviewed periodically in future, and appropriate Systems established to mitlgate these risks. In the event of the winding-up or dlssolutlon of the Company, any surplus assets shall be glven or transferred to some other charitable Institution havlng charitable oblettives similar to the objects of the Company. Member5 and Dlrectors The members and Directors who served durlng this year were as follows: Date of a 08.12.21 08.12.21 09.08.19 04.02.22 04.02.22 07.02,23 15.09.23 15.09.23 11.04.24 09.05.24 polntment Date of reslgnatlon NIA NIA NIA 26.06.25 NIA NIA NIA NIA NIA N/A Marian Kath n Sudbury (Chair} Thomas Christian Schmidt (Vice Chalrl Mark Dobson Sall Fuller Cook Vaqas Farooq John Gerard Rooney Orjo Yee Cheung Steven James Llndsa Joan Elizabeth Oavies Nicholas Brltton Trygstad
THE MANCHESTER CONCERT HALL LIMITED REPORT OF THE DIREcfoRS FOR THE YEAR ENDED 315T MARCH 202> contlnued Statement of Dirertors, responsibilities In respert of the accounts The Dlrertors are responsible for preparing the Directors. report and accounts In accordance with applicable law nd regulation5. Company law requires the Dlrectors to prepare accounts for each financlal year. Underthat law, the Dlrectors have elected to prepare the accounts in accordance wlth the UK Generally Accepted Accountln8 Practlce, Unéer company law the Direttors must not approvè the accounts unless they are satisfied that they give a true and fair view of the State of affalrs of the Company and of the net incorne or expenditure of the Company for that period. In preparlng the accounts, the Oirectors are required to: Select sultable accountlng policle5 and then apply them con51stently Make judgements and estlmates that are reasonable and prudent Prepare the accounts on the going concern basis unless it is inapproprlate to pSUme that the Company wlll conrinue business. The DlrKtors are responslble for keeplng adequate accountlnB records that are sufficlent to show and explain the company.:s.transactlons and disclose wlth reasonable accuracy at any time the financial position of the company and to eiiable them to ensure that the accounts comply with the Companies Act 2CM)6. They are a150 responslble for safeguardlng the assets of the company and hènce for takln8 reasonable steps fof the preventlon and detectlon of fraud and other irregularities. Srnall companles, exemptlon Thi5 report has been prepared In accordance wlth the special prov151ons of Part 15 of the Companles Act 2006 relatSng to small companies. The statutory profit and1055 account headin8 set out in the Companies Act have been amended to reflect the charitable nature of the Company and that it Is not trading for proflt. By order of the 8oard. For and on behalf of Manchester Professional Services Limited Company Secretary Date.. 1611212025
INDEPENDENT EXAMINER5 REPORT AuDifoRS TO THE fRUSTEES OF MANCHESYER CONCERT HALL UMITED I report to the charlty trustee5 on my examlnation of the accounts of the company for the year ended 31. March 2025 whlch a set out on pages 7 to 12. Rt5ponsibifrties and basls of report As the charitytru5tees of the company lond also its dlrecttsrs lor the purposes of (ompany lawl you are responsible for the preparatlon of the accounts In accordaft with the requlrements of the Companle$ Act 20061.the 2006 Aev). Havlng satlsfied myself thatthe accounts of the company are not requlred to be audited under PJrt 16 of the 2()6 Art ènd ère ellglble lor inilependent examinatSon. l iepDrt in respect of my examlnatlon of your company's accounts as carried out under sectlon 145 of the Charlties Att 20111'the 2011 A¢YI. In carrylng out my examlnatlon I have folkswed the Dlrectlons given by the Charlty Commisslon under se¢rlon 14515llbl of the 2011 Art. Independent examlner's st•¢ement I have compkted my examlnatlon. I c£>nfirm that no matters have corne to my attentlon in connection w6th the examinatlon glvlng me cause to belleve that In any materlal speCt- Jccountlng records wert not kept In respect of the company as required by sectlon 386 of the 2006 Act,. or the atcounts do not accord wfth tl105e record5 . or the accounts do not comply with the accountini requlrements of sectlon 396 of the 2006 Art other than any requlrement that the accounts 8lve a 'true and falr vlev/ which Is not m)tter consldered •$ part ol an Independent examinatlon: or the account5 have not been prepared In accordance wlth the methods and prlnclples ol thè Staternent of Recommended Practice for actountSng ènd reportln8 by chJrftle$ lappllcable to charltles preparing their account5 In accordance wlth the Financlèl Aeportlng Standard oppllcable In the UK and Republlc of Irel•nd IFRS 10211. I have no concerns and have corne atross no other matters In connectlon with the examlnatlon to whlch attention should be drawn In this report In order to enable a proper understandln8 of the accounts to be reached. Sned'. Tlmothy A R Elston BA FCA Percy WÈSthead & Companv Chartered Attountants Hanover House 32 Charlotte Stfeet Manchester M14FD Date Il IL Zoi
THE MANCHESTER CONCERT HALL LIMITED STATEMENT OF FINANCIAL AcnviTIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 Notes Unrestrlcted Funds 2025 Restrlcted Funds 2025 Total Funds 2025 Total Funds 2024 INCOME Donatlons and lega¢lès Voluntary income- Donation MCC Grant recelved Fundraising Consultan¢y 9,703 9.703 28,350 30,000 58,350 9.703 9,703 INCOME Incom• ttOLn ch•rltabl• ¥rti¥iti•s Rental Income from Or¢hestra 23.OOJ 23.OQJ 23,000 23,000 23,000 23,OLM) TOTAL INCOME 32,703 32,703 81,350 EXPENDITURE Ch•rltable adlvltles Monltorlni performance of the Hall Consultancy Governance and support cost$ TOTAL EXPENDITURE 2,977 2,977 27,974 25,312 56,263 2,790 9,960 41,649 54,399 27,974 25,312 28,289 27,974 Nrf INCOMEIEXPENDITVRE FOR THE YEAR Transfers between funds NET MOVEMENT IN FUNDS Balances brought foThvèrd at l Aprll 4,414 974 3.440 65.806 127,9741 974 27,¢)001 27,000 123.5601 26,951 123,5601 92,806 26,951 65,855 BALANCES CARRIED FORWARD AT 31 MARCH 69,246 69,246 92,806 There were no feco8nlsed 8aln$ 011055es Other than the net loss fof ihe year of £23,56012024 net proflt of £26.9511.
THE MANCHESTER CONCERT HALL UMITED BALANCE SHEET AS AT 31ST MARCH 2025 Company Reglstration Number 2913221 Charlty Registration Number 1040342 Notes 2025 2024 CURRENT ASSETS Debtors Cash at bank and in hand 154 76.186 76,340 81 99.090 99.171 CREDITORS Amounts falllng due wlthln one year 7,094 6,365 TOTAL NET ASSETS 69,246 92,806 FUNDS Unrestricted funds Restrlcted funds 69,246 65,806 27,000 69.246 92,806 The accounts have been prepared in accordance with the special provlslons of part 15 of the Companles Art 2006 relatlng to small companies and wlth the Charitles Act 2011. Approved by the Board And 5isned for and on thelr behalf by Marian Kathryn Sudbury OBE {Chair) Date .1611212025
THE MANCHESTER CONCERT HALL LIMITED NOTES TO THE AccouNrs for the year ended 31 March 2025 I STATUTORY INFORMATION The Manchester Concert Hall Limited is a charitable company,1Smited by guarantee, re8lStered in England and Wales. The company's re8lstered number and registered offlce address can be found on the Company Information page. The presentation currency of the financial ststements is the Pound Sterling 1£). 2 ACCOUNTING POUCIES Accounting convention The Charlty constltutes a public benefit entity as defined by FRS 102. The financial statements have been prepared In accordance with Accounting and Reporting bycharities: Staternent of Recommended Practlce appllcable to charities preparing their accounts In accordance wlth the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 effective 1st January 2015 - (Charitles SORP IFRS 102}I, the FSnandal Flnanclal Reportln8 Standard applicable in the UK and Republlc of Ireland IFRS 1021 and UK General Accepted Accountlng Practlce. The accounts are prepared on a goin£ concern basls under the historical cost convention. The flnanoal statements are presented in sterling whlch is the functional currenry of the charitv. Fund5 Unrestrlrted funds are available for use at the dlscretlon of the trustees In fijrtherance of the general objectives of the charity and which which have not been deslgnated for other purposes. Restrlcted funds are funds whlch are to be used in accordance wlth specific restrictlons imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and admlnistering such funds are charged against the specific fund. The aim and use of each restrlrted fund Is set out In the notes to the flnancial statements. Income recognitloh All Incomlng resources are Included In the Statement of Flnanclal Actlvltles ISOFAI when the charlty15 legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and It is probable that the income will be received. Donated professlonal servlces are recognised In Income at thelr fair value when thelr economlc benefit is probable, It can be measured reliably and the charity has control over the item. Fair value is determined on the basls of the value of the gift tothe charity. For example. the amountthe charity would be wllllng to pay In the open market for such faolltles and servlces, A corresponding amount is recognised In expenditure. Income from grants is recogni5ed at fair value when the charity has entltlement after any perfomance conditions have been met, it is probable that the income will be received, and the amount can be measured rellably. If entitlement is not met. then these amounts are deferred.
THE MANCHESTER CONCERT HALL UMITED NOTES TO THE ACCOUNTS- continued for the year ended 31 March 2025 Expenditure recognition All expenditure is accounted for on an accruals basls and has been classified under headings that a88regate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured rellablv. Irrecoverable VAT Is charged as an expense against the activity for which expÈnditure arose. Support costs allocation Support COSts are those that assist the work of the charity but do not directly represent charltable actlvltles and include office costs, governance costs and administrative costs. They are incurred directly in support of expenditure on the objects of the charity. All support costs have been allocated to expenditure on haritable activities as the sole attributable activity of the charity. Repalr and Maintenance of the Bridgewater Hall The capital repairing obllgations of the Bridgewater Hall remain with Manchester City Council as Freeholder. The company• on behalf of Manchester City Councll, previously Involced the Operator for a contribution towards those costs. The amount of this contributlon was Specified in the lease agreement with the Operator. However, Manchester City Council agreed that the operator be released from the obligatlon to make further contrlbut5ons from January 2004 onwards. The money was held In a designated fund (referred to as a 'sinking fund, in the Directors, report) in the accounts of the Manchester Concert Hall Llmited until it was drawn down by the City Council to meet repalr and maintenance expenditure. The fund ha5 now been exhausted and the on80ing capital repalrlng obllgatlons of the Hall will be met by the City Council, Taxatlon The company, being a registered charity, is not liable for income and corporation tax on it's net income. Golng Concern It is envisaged that the company will cease activlty during the 12 months following the date of this report and the accounts have been prepared on the break up basis. io
THE MANCHESTER CONCERT HALL LIMITED NOTES TO THE ACCOUNTS- continued for the year ended 31 March 2025 2 GOVERNANCE AND SUPPORT COSTS 2025 2024 Insurance Admin support costs Legal fees MCC Business Rates Bank charges Independent Examiners. remuneration Trustees expenses 478 13,077 3,626 6,300 290 31,512 2,556 5,811 1,620 211 25,312 1,440 40 41,649 * Insurance relates to directors and liabillty insurance 3 OPERATING PROFIT 2025 2024 Fees payable to the charltvs Independent Examiner for the Independent examlnatlon of the charStVs annual accounts: Independent examlnation fee Additional accountancy work 1,200 420 1,620 1,080 360 1,440 4 TRUSTEE'S REMUNERATION AND EXPENSES AND STAFF COSTS AND NUMBERS Expenses of £211 were paid to the trustees during the year (2024: £401. The Manchester Concert Hall Limited does not employ any staff; the company is served by the staff of Manchester Clty Councll for whlch a management charge Is payable. Additlonal staff tlme in excess of this is recogni5ed as donated services. No remuneration has been paid to the trustees in the year (nor in the comparatlve period). 5 DEBTORS 2025 2024 Prepaid expenses 154 154 81 81 6 CREDITORS 2025 2024 Trade creditors Accruals 65 6,300 6,365 - 7,094 7,094 li
THE MANCHESTER CONCERT HALL UMITED NOTES TOTHE ACCOUNTS- continued for the ye8r ended 31 Marth 2025 7 FUND RECONOLIATION Balance at 151 April 2024 8alance at Tr4nsfer$ 31st Marth 2025 Income Expendlture Unrestilrted FuAds General Fund 65,806 65,806 32,703 32,703 128,2891 128,2891 9741 {9741 69,246 69,246 Restrlcted Funds Fundraising consultan 27.000 27.000 127,9741 127,9741 974 974 92,806 32,703 56,2631 Balance at 'lstApril 2023 Balance at Transfers 31st Marth 2024 Income EKpendlture Unrestrlrted Funds G*neral Fund 65.855 65.855 51,350 51,350 151,3991 15L399) 65,806 65.806 Re5trlite(l Fund5 Fundrèi51rtr8 consultancv 30,OC4) 30,OC 13.0001 13.0001 27,000 27,000 65.855 54,399 92,8L Restrided funds relate tofundlni to support fundraisin8 Consultancy work ANALYSIS OF FUNDS 2025 2025 2025 rotal Funds Restrkted Funds Unrestrf¢ted Funds Current Assets Creditois Net Assets 76,340 17,0941 69,246 76.340 17,0941 69.246 9 MEMBERSHIP The Manch•ster Concert Hall Llmited Is a cornpany limited by 8uarantee wlth a permittéd rnaximum membership of 11. Every member of the cpmpany undert?ke5 to contrlbute one pound to the asset5 of the cornpary In the eventof the cornpany beln8 wound up whlle he Qr she Is • member. or within one year after he or she ceases to b• • rn4mb•r, for pdymerbt of th• debts and Ilobilitle5 of the company controrted before he or She tea5e5 to be a member. If upon the winding-up or dlssolutlon of the compary there remains, after the satisfaction of all its debts and fiabililles, anv property whatsoever. the surplu5 Shall be glven or trwn5ferred to some other charitable institution ha¥lng chirltpble Oblerts slmilor to the Objects of the company. 10 RELATED PARTY TRAN5AcfioN5 Thero were no relat•d party transirtlons durln& tht ye•r, which requlre disclosure In the Accounts. 12