Oocusyn Ènvekjpe ID.. 85781EFC4187E45CW09474F5D94t884 Unaudited Financial Statements The Millennium Quarter Trust Limited (A company limited by guarantee) For the year ended 31 March 2022 A8DKQJB6 291091202Z COMPANIES HOUSE
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Company No. 03962470 Charity No. 1090859
Dxu&'gn EnvebFe10.. 85781EFc4187E45Cw74Fs09416B4 The Millennium Quarter Trnst Limit•d Financial slatemen15 for the year ended 31 IAarch 2022 Company information charlty reglstratlon number lo859 Company r•glstratlon numb•r. 03962470 Registered office: POBox532 Town H2ll Albert Square Manchester M&12LA Dlrectors: John Williams The Very Reverend Rogers Govender Jane Elabeth Sharrod Liam M(K)ney Joan Ehzabeth Davies Secretary: Manchester Professional Services Lanu"ted Bankevs: Bardays Bank PLC 51 Mosley Sutti Manchestu M2 3HQ Sgll¢ltor&" Pannone LLP 37&380 Deansgdte Manchesttr M3 4LY Independent Examiner M DelfFCA Grant Thornton UK ILP 12ndm2rK SLPeter's Squa l Oxford Street Manchester MI 4PB
DUSign Envebpe 10.. 857B1EFC4)87E45C&A(W74F5D941BB4 The Millennium Quarter Trnst L¥mlted Flnancéal statements tor the year ended 31 Illar¢h Z022 Index to the financial statements Report of the dlre¢tors Independent Examinersl Report 9-10 Principal accounting policies Charitable company statement ol ffinancial activities 14 Charitable company balance sheet 15 Notes lo the 1Snan¢lal statements 16-18
Do¢uSign Envdopp10.. 857BIEFC-087E45C8-A(W74F50941B84 The Mill•nnium Quarter Trnst Limited Financial stat•merts for th• y•ar end•d 31 Maw¢h 2022 Report of the diiectors The Direc¢oTh pruent their rcpon together with thc unau(bted rJnanC 5tements for the year ended 31 Mch 2022. Reference and admlnlstratlve detalls The Mthennium Quarter Tnjst Limkted Cmof) is a company ]imited by guarantee (company number 03962470) and does not have any share capitgj. Thc company is 2150 a registeied hariry (chlty numbet 1090859). The current rnembers of MQT are Manchester City Council (MCQ and the Deans and Canons of the Cathedral and Collyte Church of Saint Mary. Saint Deny5 and Saint George. The Bo*cd olthe company compxAses t)ominees of Manchestet Ciry Council, The Dean and Canons of Manchesttt Cathedral and a Dumber of indq)endent twstees who have been 3PPOillted for theiI experuse. The Director5 twscees for the purp)se of chatiry law. The chan.ry is governed by its memordodwn and atticies of association last amended by a special tesolution on 30 January 2(Ql Directors The Direttots (who 9se also trustees of the Ch1#ble company for the puTroses OE chariry law). who Se£d dutmg the y. and since the yCAr end are as follows:. John w191S {appoAnred 7 Aptil 21X)3) The Very Reverend Rogers GovendeE (appointed 27 June 2(W Liam Mooney (appointed 10 Octobu 2017) Jane Elizabeth Sharr(Kks (appointed 4 Septernber 2014) Joan Ehzabeth Davies (appointed 25 Septernber 2018)
Docusiun Én¥ekJpe ID.. 857B1EFCQ87E45C&Ac¢]74F5Er34I6B4 The Millennium Quarter Trust Limited Financial statements for thè year ended 31 March 2022 Report of the directors Struclure, Govemance and Managemenl Organisation The cornp2ny is admutered by the B02rd of Directo. During the finsncial petiod the B0d met on two occasions ad ils prinapal busijjess ljas beuL' To receive regubx reports on the operatwi of the MaThthesw Cathedtal Visitor Centre. To ttceive regular reports on the National Football Museum at the Urbis buddts¥. To teceive regu reports on the devdopment of the MJlennium QufftE. Trustee Induction and Trnining New trnstee5 meet separatdy with both the clm and the Company Sectetary. They are provthd with an inducry)n pack whith IndUd thc most r¢c¢nt rninute5 and Annu21 Repo together WAth a copy of the Memorandum and Artides of Association. They gJ50 aend a Board meeting befott Eornially jollllng the Board. Risk Management The Directots h2ve implemented systems and Pr£edre5 10 identify and mitigate the major risks the company faces, and to ensure consistent (ydiry of dciivuy foi all operauonaL aspects OE the company. P2rricular attention has focus5ed on the health and safery of the pub]ic and members OE staff. Objectives and A¢tivilies The objecis of the company are established 25: _ For the 8eneral benefit oEthe public: 1.1 To preserve buildit)8s and conserve, rn2inf2in 2nd PteCt land or other properry of the ae5theuo his¢oIiq arthite¢turaL consttuctionaL scienufic interesi or importance in the M9nchester Md]ennium Quarter proiea 1.2 With or without assistance from others the provision of facilities irl the inwests of social wdEare for iecrc2ri0n and other leisure time occupauon in the MQT project area and for the designated surrouodll)g areas with the object of itnprow the con&"tions of ]iEe fo suth pttsons having need olsuch laaliues by reason of their age. gender, yout infirniiry. d"LS2blemeAL pov¢rry 2nd soci21 or economic citcumsttttces. and 1.3 The adtrancemeni improvanenE PrnOtiOn and development OE the eduution of the pubhc by prornoong culwr21 activittes induding exlubiiion5. infortnauon sttvices on theeS Idaiing to ciiies. lecwres. demonscraoons. puformances of dram4 music, opera and baUeE dance. fAm shows? Poetry tr2dings, painting and sculptut4]iterdture and other
Do¢u&on Envdope ID.. 8S7BIEFC4Q7E4AlJ74Fs1B8• The Mill¢nnium Quarter Trust Limited Flnancial statements for the year ended 31 Illar¢h 2022 Report of the directors Objectives and A¢tlvltles IContinu•d) The main objcctsve of MQT is to oversc¢ th¢ opuauon of Manthesterfs Mennium Quarter, wlll.ch is a distincuve cultural area in the "storiC medieval sector oEManche5ter. The Millennium Quarter wa5 created 2$ part of the Master plan For rebuIldg the aty centte following the catastrophic susLed in the exp105ion of June 1996. It composes four dements: Exchange Square- a hard ]andscaped civic space adjacent to the rerajl cote. the M9Achester Cathedral Visitor Centre IFhich conrains the renovated Hanging Bridge, an exhibition about the C2thtdt2L mttung roorns and a caEé' Cathedral Gdens- a new green pub]ic space with tttts. wattt feat¢5 and seating areas a[ Urbi5 vthich is sitt]ated in Cathedral Gardens (n¢)w the Nation Football Musewn). Manchester Ciry Council is dtcdY iesponsible for the ongoirAg maintenance of EJchange SqUt and Cathedtal Gardens. The Cathedtal is ie5ponsible foI the Opati()n OF the Cathedtal Vjsitoi Centte and ieceived deficit g£aot fundiog of £52.616 in 2021/22 from MQT rowards operating costs (2020/21: £40.426). Achievements perft•mi¥n¢e and the fuifilment of public b•nefit Firwici21 perfonDance is Swn[n the financial statements accompanying this reporL Nauonaj Football Mvsewn The Nauon21 F¢)oiball Museum conunues ro opetate stscceSsfty widu'n the Urbis budding and provides regul updates (o the Millenniutn Quart Tt Biydrd. The Ckn"eFExecuuve of the National FooTball Museum coniinues ro review suaregic and operauonai p19J)s and is working closely Trith MQT, Manchester Ciry Councd and p2rtner5. The National Footbau Museum has now been open in Manchester foi 10 y¢2r$ 2nd recendy agreed a new lease OE Utbis with m9cheSter Clry Council. Following a tectuitt))ent process in May the Foorball Museurn announced nine ncw-elected twsiees. From Monday 23 May. the Nallona] Football Museum updared its adn)ission chatges. whi]sr Iemaining free to residents of Matlchester, the price of uckets lor adults and thildren over the age of S Iange5 frorn £7-£12. All of the Eunds raised through ucket sales will be invesred back inro the Chiry, Ivith more exuting new e'bionS and events, communiry pr¢)grammts and worLshops for au visirors. Over the last 12 months the N2uonai Foorbau Museum has placed a sttong foc on female participation, with a new eX"bIll0n chatting the piogress ttom the 19th ¢0 piesent day and playing centr21 role the 2022 Wornen's Euros.
DUs19n Envebpe ID.. 8s781EFG087E4AC674Fso941B8d The Millenniym Quarter Tnt Limited Flnancial statements for the year ended 31 IAarch 2022 Report of the directors Manchester Cathedr21 Visitor Centre The Covid-19 pandernic hxd a severe impact on the conlerence busitiess of the Visitor Cenr in 2020 and 2021. Zoom meeun8s replaced conferences for many businesse5 and there seemed ]itde lthelthood oE2 Eeturn to pIe-pandemic conference income. In consultauon with the chair of MQT, the decision was taken towards the end of 2021 to end the conEereThce business and to let rhe rwo conference rwms on a COMMU basi5. has given the Visitor Cenrre more regular sustainable income in XJ22. Repairs continue to be a major cosr to the V151to Ccntre. Manchesier Cathedral Manchester Ca¢hedr21 has also been badty affected by the pandemic loss of donallon and event income but it conunues ro support the Visiror Centte. The recent repair and refurbishmeot of the Visitoi Centre lift h25 been fimded by a l(tr%n of £42.406 to the Visitot Centt Finan¢ial risk managèment objectives and pol•cies The prirAcip21 finan(Jal instruments of the COmVdny ate cash, opcrating debtors and operating creth"t0. The objective of the compaDy ICL rdauoD to these io5tn]llrnt5 i5 to ensure tha¢ Thone OE them pose a maTenal thrrat to the unrestricted reseEYes of the company. All cash is hdd in Pounds SteAing Twith Bardays Bank plc The pnmary risk f2cllJg the company 15 the k)5s of suppott frorn Manchester Ciry Council. Cuxrendy grants pgid to the company amouots ro 2021122 79ty/012020/21 .. 74/0) of the ¢or21 iocome 2nd therefoie its loss could lead ro the dosure of the company. This llsk has been mitigated by an undertakuw of support (as derailed in the Ptincipal Accounttng Po]icies) given by Manche5teE Ciry CounciL Fundln9 Any deficit of the Chatir2ble Company is funded by Maftchester Ciry Council The company is able to meet all ourgoing iterns of expen(hture 2nd future plans and commitments. The ompany did not engage An any invesunent acuviry during the fan(JaI wod. Reslricled fvnds The cornpany docs not hold any ttstticttd funds. Reserves policy The cOpanY ha5 approved a tesenTes policy which has identified only a m[nI need to accrue reseryes for conangencies or iovesttnent oppoinlUC$. This po]icy takes account of the current scope of charitable activities as well as fuDJre atrdngements with MCC. The Ieserves hdd at 31 March 2022 were £nil (2021: £nd). Investment policy The company has the wer ro invest the Mon1 OE the company not immedlately required Eot lis purposes irl any investments, sccutitics or propetry thought fir, subject to cutreni law. The company did not llke investtnents duting the period covered by these accounts.
Oocusign Envel¢pe ID.. 857B1EFC-087E45C&ACQ9474F50D41884 The Millennlum quarter Trust Lirnited Financial statements for th• y•ar èndod 31 Mareh 2022 Report of the directors Golng concorn AEter rnaklljg enquiiies. the Board has a reasonable expectation thxt the company has adequate resources to meei its debts as they Egjl due for the foreseeable tUre. being 2 wiod of twelve months after the date on which the report and financial statemenrs are 5Jgned. For thAS reason. it continucs to adopt the going concern basis in prepating the financA31 statements. Further inforn]auon is Ven in the accounting polLcies (page 11). It should be nored thar the company has secured * comtnittnent olsupport fro Manchesttt Ciry Council to provide appropria Iesources for a Per at least 12 months from the date of approval of the financial statements. Dlrectors. responslbilftie5 for the financlal statements The Trustees (who ate also Directors of the MennIUm Quarw Trust foi the pLPOSe$ of Comp9y12) ate iesponsible for preparing the Ttttstees. Annual Report and the fitJ1cIl statements in accordance with apph.thle law 2nd regulations. Company rquircs the trustee5 to prqyare finanrial ststemcnts for each financi21 period. Under thai law the Lrusttts have dected ro piepare fiDancLal staremenrs ID accoidance with United Kingdo Generally Accepted Accounting Practice (UDited Kingdom Accounting Standards ajid applicable law) indudin8 FRS 102. The FinaDcial Repottin8 Standard apphcable in the UK and Rq)ublic of Iand. Under company law the trustee5 must not approve the financial statements unless they are sausfied that they yve a and fair eW of the state of affairs of the charit3ble cornpany and th¢ company and of the itTrcoming re50urce5 and appCtiOn of tesoutces. incluthn8 the income and expenditure. OE the charlble company Eot that E)ttiod In piepating dlese finan statellnts. the tN$ttts ate iequited to.. 5dect Suitable accounung pw)li¢ies and then apply thern con5A5tenrly ob5ttve thc methtxls and principle5 in the CEwitics SORP (FRS 102). make judgemerAts and accounwlg esiimates that are reasonable and prudenr. prepare the finanaal sratements on the going concem basis unless ir i% inappropriate to presume th2t th¢ ch2n.trbk compaDy continue in bwinus. The TnLStees are responsible for keeping adequate accounting Eecords that art suffi¢tent to show and explJJn the charitabk compat)y s uansactions and dJ"sdose with reasonable aCCLttaCy at any iime the fioaDCi21 position of the company 2nd eDable the to ensure th2t the financial statements comply with the Companies Act 21KI6. They axe also responsible for safegUding the assets of the charitable comFdny and hence for rAknng reasonable $pS for the prevention and detection of fraud and other Irregula.
Oocusign Enwlope ID.. 85781EFC-087E45C8-ACrfJ9474F5D941B84 The Millennium Quartw Trust Limited Financial statements for the year ended 31 March 2022 Report of the directors Directors indemnities The c¢)rnpany. on behalf of the Directo. has Diie¢tots' Andelllljiry insurance with a charge in the period of £1.4(A in 2021122: (2020/21: £1.091). Small company exemption This Eepott has been prepared in accotdance the special provisions of Part 15 of Companies Act 2(K)6 Ecla11 to small compaoie5. Independent Examinatio The comp9Ay is below the auth"t threshold Eor both the Companies and Chariues Act Iequirements but requires an Independent Examination. The company has appoinred M Ddf FCA (of Grant Thornton UK tIP) to be the Independent Exarniner. The accounts Eor the year ended 31 Marth 2022 ha been Ven an IndeEdent Examine, Report by M Dd FCA. BY ORDER OF THE BOARD John Wdli3ms For and on IKhalf of The Millennium Quar Trust Ljmited Director 21/9/2022
Docusign Envel¢pe ID.. 857B1EFC4)B7E45C&ALXP>674F50941B84 The Millennium Quarter Tvust Limited Financial statomehts fr•r the year ended 31 IAarch 2022 Independ•nt •xamin•rfs report to the truste•s of The Millennium Quart•r Trusl Llmited I repoll on the accounts of The Mdlenniurn Quarter TnLSt LirnJ"ted for the year ended 31 March 2022, which ate set our ott py 11 to 18. This report is made solely to the charitable companrfs tntsttts. 25 a body. in accordance with the regulations made under settion 154 of the Charities Act 2011. My WO has becn udertaken so tbat I might sta to the ch2titable compaoy'5 tn]stees those matters 19m required ro state to them in an independenr examiner's repon and for no other purpose. To the fuiLc5t extent penrntted by ]2w, I do not accept or assume responsibjb.ty EO anyone other than the chan.tabk company and the chan.uble company's trus as a bcxly, for my woIk. for this ttpotl ot for the opinions I have follned. R•spective resp•nGibilities of trnstees and examlner The tnJstees (who are also the Diieetols of the c11tble company for the purposes of company law) are iesponsible for the pteparation o( the accounts. The chatifAble company's trustees cottsidtt that audit is not Eequired for this year {undet sKtion 144(2) of the chariti A 2011 and Part 16 of the Companies Acr 2(M)6 and that independent eKaminauon As needed). Having saiisfied mysdf that the charitable cornFdDy is n(x subject to audit under company law and is ehble for independent examinatio it is my reswnsibih.ry to: examine the accounts under section 145 of the Chatiues Act 2011. to follow the procedt$ laid down the general Ditecuon5 Ven by the Chuiry Comnu5sion under seccion 145(5)(b) of the Ciwilles Acr 2011. and to state whether p9miculat tterS have come to my atrention. . Basls ol independent •xarnth•rfs statement My exaMitiOn was carried out in acmrdance with the 8eneTal Directions &vet) by the Chati commissio An examination indudes a cOMp1$0n ol the accounrs with the accounting records kept by the Chitable comp9ny. It also indudes consideration of auy unusual items or disdosures in the accounts. and Seekn" explanauons from you as trustees concerning any such matters. The procedures undertaken do not piovide all the evidence thai would be required in an audiu 2nd CODsequendy no opinion is Ven as to whether the accounts ptrsent a'ttue and fair, Iriew and the report is ]imited to those mattets set out An the statement bd¢)w. Independent •xamin•rfs stat•menl In connection with my examinall0 no matter has come to my attentio wlu.ch gives me reasoble cause to be]ieve tbat in any mateD21 respec4 the requirements: to keep accouDtsDg i¢cords io accordance seaion 386 of the Companies Act 10 prepare accounts which accoid with tbe #ccouoting recoids. to comply with the accounting requireMts of the secuon 396 of the Companies Aet 26. and to comply with the Statement of Recommended Practice'Accounting and repoitivg by Ch*tities'. Sutetnent oERecollJmended aCtiCe applicable ro Chilles pteparing their accounts in accordance with the Flnaniial Reporting Standard appkncable in the UK and Repubhc of Ireland (FRS 102) (effecuve JanLWy 2019),
DocuSignEn¥ekipe ID". 8s781EFC4J87È4Ac¥)M74FSO94j8è4 The Millennium Quartei Twst Limited Flnancial statements lor the year ended 31 M•v¢h 2022 10 have not been rnet. or ¢0 wkn"ch. in my opinion, attention should be drawn in otder to enable a proper understandmg of the Accoun to be ieathed. M DelfFCA Graot Thornton UK ILP Charrered Accowjtants Manchester Dite 22/9/2022
Oo¢uSign Erwel¢pe ID". 85781EFC-087E45CW09ffj74FSD941BB4 The Mill•nnlum Quarter Trust Limit•d Flnancial statements for the year ended 31 Illar¢h 2022 11 Principal accounting policies Basis of preparation The financial Statements have been piepared accordance with Accouniing & Reporung by chlties.. SleMent of Recommended Ptauice app]icable to Ch1¢5 preping their financi21 statements in accord2nce with the Financial Rep)rtit)£ Swidard app]icable in thc UK & RePubC OE Ireland (TrRSIOZ) (efEettive l Jat)uary 2019), Chariues SORJ) (FRS102) and the Companies Act 2006. The dwi.ry is not required ro prepare a cash tlow statemen4 being a srnall entiry undtt FRSIO2. The Mdlennium Quarter TTrt LJmited mttts the definillon of a pub]ic benefit tntiry wjder FRS102. Assets and liabllities initiatty r¢cogmsed at kn"5toricaJ cost or transacuon value unless othenvise stated in the accountu)g pob'cy nores. Basis of Accountlng The Financia] Statements are prepared An accordance with the kn"5totiC21 cost convention. The COrnP2ny's ficlOn31 and presentauonal cutiency AS the pound ster1ll CGBP). G•lng ¢on¢em Thf company made a Surplu5 of NJJ dIng the year ended 31 Mxrth 2022 la 5uq)l of £Nil 2021). The Chariry will continue to (ocus on OverSeeg the opuauon of Maochesier's Millennium Quatter, which beside5 Urbis comprises Exchange Squar4 the Manchesttt CAthedral Visitor Centre and Cathedral Gardens. The chativdble company has the continuing support of Manchester Q"ry Covncii for the oreseeabk future io the Pu1£ of its, Ch1[able objeciives. It shoukl be noted that the company has seojred a corntnttmcnt of 5uppott frorn Manchesi Ciry Council to piovide appropiiate resoutces for 2 pen(xl at leasi 12 months fxom the date of apProj OE the finana3J stawnents. Based on the abov4 the directots have conduded that it is appropriate to adopt the going concern basis of accounting in preparing these financial statements. MQT will continue to monitor the effects of the Covid-19 panLknic and iwrt to B0d members accor
DocAJSignEnveknpe 10.. 857B1EFC-087E-45CMW74F5tW1BB4 The Millenniwn Quwter Tryst Limited Financlal st•lemenls for the year ended 31 Iljarch 2022 12 Principal accounting policies (continued) Incomlny Resources Voluntary income compxises all incorning re50ur¢es frotn donations. gifts and granrs. Donations and gifts All monetary donations and gifis are ]ndJed in in the statement of finanaal attiFiue5 when receivable, provided thar thete are no donor imp(bkd restrictions as to the timing of the rdated expenditute, An whith case tecogniuon AS deftrted untd the prt-con&"tion been met. Intangible income. which comptises donated seTrices, is induded in income at a valuation which is an estimaie of the finaAoaJ c05¢ Ix)rne by the dooor whtte such a cost AS qU2nufi2ble and measutablL An equiv9Jenc amount is charged as expendE"Ture. No income is recogll when there is no cost knme by a third party. Voluntary help is not induded as income. Grants receivable Revenue stls 9xe creth.red as incoming resouTces Twhen they are receivable prowided conditions for receipt have been comp]ied vlith. onless they rdate * specified peool in which ¢Ase they axe deEer£eLi Incoming resources from chaTitable activities Ittcoming resources from Chlble acttviues accounred for Twhen earned Rèsources expended All expenditure is accouated for oft an accDJals basis and has l)een classified Wet headjngs that aggreyre all costs related 10 that category. Whete co$t5 cannot be direcdy ibuted to particul#t hvadmg5 they h2Fe been allocated to auivities on a basis consiscent with use of resources. Central ovtthead COS t allocated ro ope[x[nI1 ACOn5 on the basis OE their of centtsl suppott services. Gov¢ro2t)¢e costs ate the costs asscxiated with the governance aernerts of the cornp2ny which relate 10 the gened OE the ckjariry opw)sed to those costs associated with charirable acttvities. Induded withjn this category are costs associlted the sttategic as opposed to day to day manag¢rn¢nt of the cotnp2ny'5 activAries. Support costs. which indude executive and devdopmcoL finaoce. Icr, external accountancy. , kellg. general office and administtauory allocated accoss categorie5 of djatitable expendituo wernance costs and the costs of generating fi]nds. Fund accowting Unrestrkcted are incoming Iesources received or generated for expenth.nue on the geneTal objectives of the company at the dyscretion OF the tnL5tees. Resttscted fidS are subjecred to restticuons on theix expenth.wte imp05cd by the donoi. Cash flow statemenl The accounts do not indude a cash flow statement because the company. as a small rewrllng company) is exempt from the requirement to ptepare suth a statement under FRS 102.IA.7 Cash Flow StatemenLS.
Q¢)oJSign EThvelope ID.. 857B1EFc7E45CU-ACS74F5Cfj4l8B4 Tho Millennl¥m Quarter Tntsl Umlled F5nan¢ial statements for the yw ended 31 Mar¢h 2022 13 Principal accounting policies (continued) Grants Mad• The chariry gives grants with condiuons for irs paymet)c such gtants only Iecognised in the SOFA once the recipient of the grant has provided the Spcaf service OI output. Ind•p•ndent Examination The Company 15 dig'ble foE audit txtmption under Sccuon 477 of the Cornpaoies Att 2006. The company is t"ble for an independent examination and has been given 9ffj unqugjified Independent Examiners Report by M Ddf. FC Significant adjustments •nd key of estimation uncertainty The trySTees conder there to be no items in the financd sutements where they have had to make significant judgementr in the ptocess of applying the Chatirfs accounting policies or key sources OE c5tirn2tion uncertainry.
Docu&gnEnvelope10.. 85781EFC.087E4SA¢j7F5D9II88¢ Thè Millenniym Quarter Trust Limited Financial statements lor the year ended 31 March 2022 14 Charitable company statement of fLnancial activities (Incorporating the Income and Expenditure account) Unttle*d Funds Re$trieted Fund6 Tot9] Fund$ Funds 2022 2021 Note tNCOMING RESOURCFS Incoming rt80ureea from getttr•¢ed funtjs V0hY irLcom¢ 15.iXXI 15,( 15.LKKI IA¢Omitb8 t¢8OUtce$ from ¢lMritable activities Grants Erotn MIry(he5 City Counui 55.5 42,917 Toial incorn1 rcsowce5 70.580 57,917 RESOURCES EXPENDED Chatitable a¢tivities Cultyltai activities and p10 of f2ci]ities 51616 52.616 40,426 GOv2nCC Costs 17.964 17.964 17.491 Total re6our¢e$ ¢xpendeil 70.5 57,917 Net ineomtng rtsout¢e$ for tht yt•r/nw income for the year Baiinces broJ8ht forwwd Ir l Aplll 3)21 Baiantts cattied foThv•rd at 31Mgrch 2022 The comparative informauon is for the year ended 31 MardL 2021. There were no other recogn Sai or losses for the finwial perio4 other than the ie5ult for the year. All tesults are de£ived from continuing operations.
DosigN Ersvdope ID.. 857B1 EFC-C07E45C&A(W674F50941884 The Mille•nlum Quarter Tn¢ Llmlled Financial s&ilemenl$ for the year ended 31 March 2022 Company no 03962470 Charitable company balance sheet 2022 2021 Noie Cutrent a88ets Debto Cash at bank and in hand 54.116 3.385 831 6.617 57.501 Creditots: amounts falling due within otte year (57,501) Net current liabitities Total net assets io Funds Unresuttted funds R¢st[icd fimds Total ftjnds li The Trustees consider that the Company is entid¢d to eX)on from the tequiiement ro have an audit under the pwvision5 of section 477 OE the Companies Aci 2(MM) C'the Acrf? and members have nor Iequited the Company io obuiD an audit for the year ill que5ts0o in ¥cordance with section 476 of the ACL The Trustees acknowkdge theix responsibiiiues for complying with the requirements o( the Companies Act 2(K)6 with respecc to accounting records And the Prep%On ol fin9Cial statellkent5. The financial statements wete ¥proved by the Board of Directots and authorised for issu¢ on 21/9/2022 John wlm5 The accompanying nores forn) pan of these fmaniial
Docu&gnEn¥ebFe ID.. 85781EFC-087E45C&AOW74F5D9418B4 The Millennium Quarter T$t Limited Financial staternents for the year ended 31 March 2022 16 Notes to the fmancial statements Incomlng resources from v•lunlary In¢•mg 2022 2021 Donxted seThices 15,(KK> 15.(XY) 15,iJXI 15,000 Donated serrices comprises accountattcy and compatty sectetatial setVAces provided by Manchester Ptolessional SeTrices Limited. Income fro•n Charitable A¢tlvltlos Income. which i8 stated net of value added w. represents 8£s from Manchester Ciry CounciL Cost of cuftural activities and provision of lacilities 2022 2021 Granr to the Cithedral Visitoi Centre 52.616 52.616 40,426 40.426 Governance costs 2022 2021 AdMutraU0A 11000 Iiotx) 3.0(K) Accountancy Indcpendent Examiners Fees Inswance 1,091 17,491 17.964 Nel in¢omelq•xp•nditurn) for th• year 2021 This is stxted a(ter cb&tw. Independent Ex&[ner5 Fees- fee5 payabk to the Independent Examitier in rd2uon to the examinauon of the Compa5 annual finanaai statements. 1.400
Oocusign Enveljpe ID.. 8s7BlEFC47E45CAO1j8474F50gll84 The Millennium Quarter Tntst Limited Financ•al statements for the year •nd•d 31 March 2022 17 Notes to the financial statements Dir8ctors' remun•ratioTh and staff Costs No remunerauon has been paid to the company's dixectors. No expenses have been reimbut5ed by the company to the directors. There were no employee5 in the yedr (2021: none). Taxatlon As a chariry. The Mdlennium Quarter Tnjsr lami.ted is czempt from on income and gains to the extent dt th¢5e are 2pp]ied ¢0 its ckuriubk objects. Debtors 2022 2021 Debtots Prepayments and accrued income 52,957 1.159 54,116 831 831 Creditors: amounts falling due within one year Account5 Payable Accruals Deferred income (note 14) 26 S4,19 1,393 6.029 57.501 The defeued income due to Manchester City Council is secured by x fixed and floatAng dwg¢ ovcr the ¢h2riry's asstt5. 10 Analysis of net assets between funds Unresttscttd Resiricted futtd$ Total Cutrent assets Cutrent liabdities 57.501 57.501 57.501 57.501 Net assets at 31 March 2022
DxUsigETrVtknpe ID". 8S7B1EFc7E45C8-K#J9474FSO94lBB4 Thè Mill•hnium Quart•r Tntst Limit•d Financial Statements for the year ended 31 March 2022 18 Notes to the financial statements Funds UnreBttiCted Restricted fimdts Toiaj Ftsnds At l Apd 2021 Incoming resources Resources expended At 31 Match 2022 70,580 0.580 70.580 0.580 12 Guarantee The cornp2ny is lirni.ted by guat2ntee and no authoIised skwe capital. Every member of the comydny undertakes (o conuibute such amount as may be rquired (not exceeding £1) to the comp2ny's assets if it Should be wound up whilst they are members or withjn one year after they c¢ased ¢0 be i Member. of the costs. charges and expenses of windu¥ up 9J lot the adjustment o the right5 of the conttibwors te$. 13 Indemnity insuranc? The compgny. on behgjf oEthe directors. has paid dectOrS. indemnity insurance a ch2rg¢ of £1,464 for the yeat (2021 £1.091). 14 Relaled party trnns•1Ons Members and officers of MaJ]chester Ciry CouncLI IMCQ serve on the Board of Diryctors. The coinpany's ttans2ctions with MCC ate sU[nmed lollows. Dunng the Fear. grants and donated setvices from M9J)chestrr City CouncLI wvnted to £55,580 (2021: £42,917). At 31 March 2022 £52.957 (2021: £NJ) due from MCC At 31 March 2022 £3,406 131 March 2021: £6.029) was due to MCC At 31 March 2022 £52.616 P021.. £Nd) wa5 due to Manchesttt CathedAI Visitors Centre DwiDg the ye. a graot of £51616 {2021.. £40.426) was made to Manchester Cathedral Visitws Centte. Manchc5ter Cathedral Visitors Centre is a relgred pary as the Very Revuern4 Rogers Govetder served on the Board of Dii¢ctOES.