Unaudited Financial Statements The Millennium Quarter Trust Limited (A company litnited by guarantee) For the year ended 31 MaT¢h 2023 'ACFGSEE3* 0211112023 COMPANIES frfousE ¥164 Company No. 03962470 Charity No. 1090859
The Mijlemium Quarter TNst Limi¢ed Flnancial statements for the year •n¢l•d 31 Mar¢h 2023 Company information Chartty r•glslratlon numlb•r. lo859 Company r•gl$tr•llon number. 03962470 Reglst•r•d offi¢•: POBox532 Town Hall Albert Square M2nchester M60 2LA Dlrectors: John Wdb"am5 The Very Revetend Rogets Govender Jane Ebzabeth Sharrocks Mooney- resigned 16 tember 2022 Joan Eii22beth D2vies Mancheste( Proft$5ional scrn.ces Jimited Bonkars. Bardays Bank Pt£ 51 Mosley Street Manchester M2 3HQ S•llcltors: Panrlone JIP 378-380 De#nsEare Manchester M3 4LY Ind•pend•nt Examlner. ju"C H2rdman. CPFA CoqKir#tt Finatice 5th Floor Town Hall Exrension Manchcsttr M60 2LA
The Millennium Qwarter Try$1 Limited Flnancial statements for the year ended 31 Mar¢h 2023 Index to the fin2nciat statements Report ol th• dlrectors Independenl ExaMIneY R•p•rt 9-10 Prlnclpal acc¢wntlng pollcles Charilable company ¥tal•m•nt ol lIn¢1 •¢tlvltl•$ 14 Ch•rfto1 mpanY balan short 15 Notes to the Ilnanclal stat•m 16-18
The Millenniym Quarter Tn•st Limited Financial slaternenls for the year 31 Plavch 2023 Report of the directois The Directors present their report together with the un2u&"ted fmartci3J statements for the year ended 31 th 2023. 14efor•n¢o and admini$¢rntive do1411s The MennIum Quarter Tnjst Iimited CMQn is a comp2rty lllw.ted by guatancee (company number 03962470) and docs not hwe any shate c2wt21. The company is also a registered ch2tity (ch2tity number 1090859). The current Enembers of MQT xe Mwchesttr City CoLmciI (MCQ and the De2ns 2nd Canons ofthe Cathedral and CollegJ2te Churth o( Saint Mary. S2iOt Deays and Sainc George. The Board of the company compiises nominees ofmanchestet Ciry Cound,The Dean and Canons of mancheSr Cathcdr21 and a number of indepcnderlt trustees who have bten appointed fot their LKpertise. The Directors *re its tDJStccs fot the purp)se oEch2riry law. The charity AS govemed by its mernoraudum and artidcs of gssocixtion ]25t amended by a special resoluuon on 30 J2Duary 21X)2. Dlrectovs Thc DectOrS (who ate also tTUStecs of the charitablt company for the puip)ses of Chlty law). who seThed duDng the yeat. and sitice the year end are as follow5: John WbaMS caplted 7 April 21KJ3) The Very Reverend Rogtts Govender {appoAnted 27]une 2cl Liam Moorjcy (appointed l O Ottober 2017 rcsigned 16 SepÉaJJber 2022) Jane Eb'zabeth Sharrocks (appointed 4 SeprembeI 2014) Joan Ehzabeth Davies (appointd 25 September 2018)
The Millennium Quarter Trust Limited rinancial statements lav the year ended 31 Mar¢h 2023 Report of the directors Oryani$atlon The company is admiftisiered by the Boxrd of Directors. DllÉitig the financial Friod the B¢)grd met on two occasions and its ptincipai business has been: To receive ieports on the operation of the Mxtlchester Cathedr21 Visitor Ctntre. To receivc regu]ar rewjrts on the Nationa] Footb¥ll Museum at the Urbis building. To receive rcgular tep)rts on the development of the Miller1 Quarter. TN$t•• Inductlo• and Training New trustees mett sep2r2tdy with the Ch2ittnan athd the Company Secretary. They ate provided with art induction pack which indudes the tnost recent minutes And Annua] ReporL together with 2 copy of the Memorandum and Articles of Association. They also atnd a Board meeting bcfore formally ioiwng the Board. Rlsk Management The Directors have implemented systetns gnd procedures to identify and Milite the major risks the company fice4 and to ensure consistent qualiry of ddivery all opuati0tt aspects of the comFany. P2rticulzr attention has EcKussed on the he21th id saEeLy of the public and members of staff. The objects oEthe cOmwJY are estabiished Is:_ For the geoerA benefit of the public: 1.1 To pIe5erve bujldings 2nd consetvc, maintsin and protect J2nd OI other propeny OF the ae5theiiq histotic, arcTru"tectural, construcEionai. soentific intetest or importance in the Manchester fvtlllennium Quartet project area" J.2 With or without assksrance from othets the provision of facilities An tht interest8 of s(xial wdfare for recreation and other leisurc time occupation in the MQT project area 9d for the de5ign3ted surroundmg 2rcas with the object of improving the cotKlJuons oEli£c Eor such persons having need of such faei]ities by reason of thwr g£< gender. youth, infirniiry, d"Ls2blemenL P)V¢rty and soc1 or economic atcumstances" and 1.3 The advceMen4 improvement. promoiion developa]ent of the ¢ducation of the public by promoting cuitsra] ctiv]oes induding exhibiiions. information services on themcs rdating to cities. Icct¢Jres, demon5tratsons, performance5 of dram4 music, opeta and balle4 dxn¢e. fjlm shows. poetry readw, inting and scu)p¢ure, liteiature other
The Millennium Q¥art•r Trust Llmlted Flnancial statements lor th• year ended 31 March 2023 Report of the directors Oblectlves and Actlvltles {C•ntlnu•d) The main objective of MQT is to ovetsee the oper2ti0n oEM2nthcster's MJllerLnium Quarter. whith is a disiincuve cuiturai area irt the hiscorie medits'at sector of Manchestet. The menniUm Quart¢r was creared #s patr ofthe Master plan for rebuiIding the city centre following the caiastrophic dm2ge sustsined in the exp105ion of June 1996. It comprises four dements.. Exdjangt Squ3re- a h3rd landscaptd civic space adjacent to the rtt2i] corc; thc Manchester Cathedral Visitor Centre which contsins the renovltcd Hanglng Bridge. an ¥Eubitton #bout the Cathed, meeung rooms * c4E< Cathedral Gardens- 2 new gteen public space with trees, water fe#tures and sexting 2re2s and Urbis which As sittJ2tcd in Cathedral Gardens {now the N2ti0n21 Footb2ll Museum). Manchester Ciry Couticil AS dittctly resrx)nsibic for the ongoing n)2intcnancc of Exchange Sque a( cathedr Gardens. The Cathedtsl is respoosible for the operaoon OF the C2thedr isitor Centre 2nd ieceived deficit grAnt fundlng of £51525 in 2022123 frotn MQT towards operaring costs (2021122.. £52,616). Achlevementsi p•rf¢)nMn¢e and the fullllment of pulbNc benefft Finanti ptrfoimancc is swntn8ristd in tht finxnuai statctnents cCOmPaln8 thi5 reporL Natsonai Footbau Museum The Nauonai Football Museum continl to opuate Successfully within the Urbis Building and duting 22123 2chitved iecord visiroi numbets sitice the inuoducuon OF2 paid ticketing model in 2019. The museum welcomcd a total of I.654 irySiLors. an 11 /0 increase on pre-cowd figmies. 2nd 2180 2chieved a 370/D incrtsse in school and educarionaj v]sits. Tllrnovcr was £3.6m (un-audtted) and as a regftstered chartry. profits from ticketing And other comtneroai activiues 2re ieinvested back into the museum and its sew&ce5. Thanks to funding from Manchester City Couo¢il. Ciry of M2nchester residents and $thl$ continue to benefii froTn free admission. In Novcrnber 2022 thc N2tion21 Footb Museum achtevcd Nationa] Portfotso Orgthisxtioo (NPO) status aW2tded by Arrs Courtcit England to le2ding stillItionS that mnta1ft the world d25s cultural secioI of England. This 2dth"uonat fun<h"ag h2s beti ini'ested in Footbgjl Creates - a three-year Cultur progrdmme that Uses the power of f(K)tbali to engage underserved communities in crtativiry to diive indusion 2nd improve wellbeing. The museum continues to develop strategic pxrtnetships *ross the city. Nlembtrs of the SLT chr both the M"ev1 Quarter Business Forum and Marketing Group. thc museusji wa5 % primaty venue for Manchester Internationgj Festivgj 23 and is an active membei ol th¢ uty'5 Destination M2rketiDg Organisatioo Matketiog M2nchestei. makillg a sigrnficant contribution to the vtsjtor economy i'l2 domestic and Internation visitors.
The PAlllennium Quarter Trust Limited Flnan¢ial slalements for th¢ year ended 31 IA•r¢h 2023 Report of the directors MaDth¢5ttt Cathedral )SItOr Centr¢ The decision tt) let the former conference rooms on a commercial basis afcer the G)vid-19 pandemic he]ped tht Visitor CtnEre to achieve a better income in 2022. Repai£s to the building continue to be a major cost and the refurbishment o( the lift was an added cost this year. The huge increase in the cosi of gas & electricity was another E2Ctor in The Visitor Centre contkouiog to Inc losses. Manthttter C%thedtsJ Manthestcr Cathed£ai was also badly Efccted by the p#t)demic with a loss of donation and evenr income Event income improved in 2022 exceeding the pre-pandeo)ic leK,d but donations have not yet recovcrcd to pre-p2nd¢mic £. However, the Cathcdr21 cottrinues to support thc Visito£ Centr Financial rlsk management obiecllv•s and pofKi The witiciP fuLancioJ in5trwnents of the comPY are tssh. opttatitlg debiors optr2ting ctcditors. The objecuve of the company in relation to th¢se insrrutnents is to eosure d( none of them pose 2 material thrcat to the unrestricted rcseryes of the company. All ush is held in Pounds SierIkng with B2rdays Bank pk. The primxry risk facing the comp2ny is the loss of support from Manchester Ciry Counul. Currendy grants paid to the cotnpany amounts to 2022123 8/fj (2021122: 7Y/o) of the totAI intome 2nd therefore its loss could Itad to the dosure of the company. This tisk has been miugated by undtttakllig of support (as deuiLtd in thc Piincip21 Accounting Pokncics) gyve by M#nthestu Coun£iL Fundrng Any defLCit of the Chatitsble Company is Eondtd by Manchester City Councit. The comp8J)y is 2ble to mcet att outgoing itetns of exFndicutt and future plxns 2nd commitments. Tht company did not enggge in any inve5ttnent actiVAry duting the firhanci21 period. R•strfcted fvnds Thc company does not hold any rcstritted fijnds. R•serv•s policy The compafty has approved a reserves tK>b"cy whj.ch has ideniified only a minitngj need crue reserves for eonungthoes or investment opportuniues. This policy rakes account of the current scope of ch*txt2ble 2¢e5 as well as futute arrangements with MCC. The L¢strve5 hdd It 31 March 2023 werc £nLI (2022: £llLt). Investment pollcy The company h25 the w>wer to knvest the monie5 of the company not immediatdy required Eor its purposes in 2rLy investments, securitscs or property thou8ht fjl subject to current law. The comp2ny did not tnaLc veStmentS dutirhg the period covered by these Iccounts.
The Millennium Quarter Trust Limit•d Financial 5tatemen¢s the year ended Jl March 2023 Report of the directors Golng concern After makjng enquiries, the Board has a reasonble expe¢tIOn that the compan5T h25 adequate resources to meet its debts 2$ thry f2U due for the foreseeable future. being a period of twelve months 2fter the datc on wkn.ch thc report 2nd fincial statemencs are Si¢d. For this reason. it corLonue5 to adopt the going conceitl basis in pzcwag the FthanuAI statrmtnts. Further infom)auon is given in the ccounuog poliaes Ipage I l). It should be noted thaL the company has securcd a commirnient of 5UPPOrt from Manchester City Council to provide appropriate resources for a per1 at kast 12 months from the date of approva] of the firlanciai statemerlts. Dlr•ctors' rnsponslbllttl•s for th• flTraTrclal statements The Trustees (who are Jlso Diiecfors of the Quarter Txust Eor the purp05e5 of company law) are responsible for preparing the Trnstees. Annual Repott and the finan021 st2tcmcnts in accordance with appb"cable law and rwiAuons. Comp2ny12w requircs the tDJStces to prep3re financi $te[nentS for ead) financial period. Under that law the trustees have elecred to ptep#te 6nanual ststcmcnts in accordance with United Kingdom Genet#lly Accepted Accounting Practice (Unitcd .gdorn Accounting St2nd2tds and 2pphcable law) including FRS 102. The Financial Reporting Stsndard 2pplicable in the UK and Repubknc oflre]#nd. Under company the tkU5tees must not approve the finAnciai sttttments unless they are satisfied that they &ve a t(ue and f#ir view of th¢ statt o ffairs of the charitabk company atKI the compY #nd of the incoming resources and pph'cation oErttourccs, induding the income expend"Lture, of the charitable company for that period. In prewAring these financial stawnertts. the t[tte$ 2te 14uircd to: 5dett suitable accounting pob.cies atKI chen apply them consistently. obserwe the methtmls ad ptinople5 in the Charities SORP (FRS 102). m2kt judgements and accounting estimates that are reoson2ble and prL2dtnt' PttP2re the FLnanci21 statements on the going concern 625is unless it is inappropriate to ptesume ih2t the ch2rit2bk company will conunue in business. The T$[c¢S are responsible for keeping adequate accounting records thai ate sUffi0t to show and explain the charitable companls transxcuons 2nd disdose WAth reasonable accuracs, at any time the fJn2noai posiuon ofthe company 2nd erlable them to ensure that the fmanoA] statements comply with the Comp2rues Act 2Crf)6. Thty are also rcsponsiblc for s2fcguarding the assets OE the charitable coMp)Y and hence for taking teasonable steps fot thc prevention aL)d detecuon of fi*ud gnd othet iiregu]arAue5.
The Mill¢thnium Iluartw Tntst Llmlted Financial slat¢m¢thl$ tw tho •nded 31 March 2023 Report of the directors Dlrectors. indemnitles The company. on bth211oE thc DArcctor5. has Directots, indemnity insurgnce with a charge in the period of £1,831 in 2022123.. P021122.. £1.464). Small cofftpany exemption TElls repott has been prep8red gccordance wid) thc speclai pIovisions of Patt 15 of Companies Act 2006 rd2ting to small comEYdaies. Independent Examln4rt10 The company Is below the #udir ¢hteshold fot Ix)th the CoMpaeS and Charities Act requirements but requires an Independent Examinaiion. The accounts for the year cnded 31 March 2023 have becn given Indepudenc Examintts. Report by Ju]ic H2rdman CPF BY ORDER OF THE BOAIID John Williams For 2nd on b¢h21f of Thc Millennium Quartcr Tntst L4mited DirectoI
The Millenniunj Quarter Trust Limited Flnancial staement8 lor the year 31 Mah 2023 Independent examlnerfs report to th• Intstees of The Mlllennlum Quarter Trnst Llmlted rtport on the accounts of The bfjllennium Qu#rterTmst Limited for the year ended 31 March 2023, which arc set out orh p3ges I I to 18. TIu5 report is made solely to the charitable company's tru5tee5, as i body. in ¥ccordan¢e vAith the regtiOnS made undu xction 154 of the Chatitics Act 2011. My wotk h2s been undertaken so that I might state to the charit2blc company's tntstees those Matte l gJn tequired to 5t2te to thcm in itldependent examinels rert gnd For no other putFK)se. To the fullest extent pemiitted by law, I do not acctpt or assume responsiblty to anyone other than the charitable company and the eh2rit2ble compAny's tWSLees #s a body. for my work. for this retKJrt. or fot the opiti15 I have Fomied. Respectlve r•sponslbilitSes of tNstees and examln The txustees (who ate also the Directots of the charit261e COMPlY Eor the pwes of compAny ]aw) are TespotLsible Eoi the preparation of tht 2ttounts. The chxritablt tompany s tn15tees conther th2t an audit is oot r4uirtd for thi5 year (undu Section 144121 OE the Chariues Act 2011 and Part 16 of the Companies Acr 2(K)6 2nd thai an indeFndent ex2min2ti0n is needed). H2ving s2tisFied myselEthit the ch2fitabk company is not subject to audit under company law and is t"ble for indeperKlent exami0. it is my reswnsibJ]iry to.. tnine the accounts under 5eciioft 145 of the Ch2nties Act 2011- to follow the procedures 12id down the gener2] Direcu0ft5 gven by the chlty ComrnJ55ion undtt Section 145(5)(b) of the Chaiities Act 2011. and to Sta whether prticul*t matters haire tome to my attention. Basls of Independwt •xamln•rfs ststement My cxamitiation was carticd out in accordance with the genera] Directions ¥£n by the Charity Cotnmission. An examinaiion indude5 a companson of the 2ccounts the accounting record5 kept by the cha(lble company. It 21so indude5 ConSeration of any unusual items or "sdosures in thc accounts. &id 5eekJ"ag Lxplan2ti0fL5 from you * trustec5 COtLceming Y such a¢rets. The procedures e[raken do Ekot provide the tvidtncc that would bt requirtd in 20 2u(b"t, 2nd consequently no opmion is given as to whether the accounts pie5ent a 't[ and fgir. view and the reFOrt is limited to th¢t rnat$ set out in the statemertc bdow. lttd•p•nden¢ oMamifia¢s statement lrt connection with my exarrLin#tion, no matter has come to my 2ttenuon: wluch gives me reasonable cause to bdieve that in any maLe[i respecq the requirements." to ktep accounting recotds in accordance with secuon 386 of the Compa]eS Act ¢0 prepare accounts which accord with the accouniing iecoids,. to comply with the accoun1ig requirements of the section 396 of the Comp2ni Act 2(M16" 2nd to comply with the St2temcn¢ of Recommtndcd Practice'Accounting 2nd rcportirlg by Ch2tities.. St2ttmcnt of Recommended Pracuce 3ppiLcabk to th2ritits prcp2ring their 2ccounts in accoId%nce with the Fi03nciai Reporting Standard applicable in the UK and Repubh'c of Irdand (FRS 102) (effeuiiie January 2019}'
The Millenniwm Quarter Tru¥1 Lirnited Financial slatements for Ihe year emled 34 M•rth 2023 10 have not beerl mct. or to which, in my Opinion. attention should be drawn in order to enable * ptoper understan&"ng of the accounts to E¢ reathed. Julie Hdman. CPFA CoKwr&te Finance 5th Floor Town H8Jl Exrension Manchester M60 2L4 D2te 19rh Septembtt 2023
The MIllwlrn •Juartev Tvu5t Limi¢• Flnanclal statemonts for the year end¢d 31 Marth 2023 41 Principal accounting policies Basls of preparation The financ5 statement5 have been prewed in attordancc with Accounung & Repoiting by Chriiies.. Sr#iement of Recomtnend¢d Ptactice appb"cable to charities prep¥nt]g theit ststements irt accordaftce with the Financial Reporung St#nd2rd applic2ble in the Ulc & Republic of Irdand (FRS102) (effective l J#nuary 2019). Chatiues SORP (FRS102) and the Companies Act 2006. The chatity is not rcquired to prewe a cash fiow statement. being a small entity under FRSI02. The Mbllenfjium Quarter Trust LimiEed meets the defition of a public benefii tntiry under FRS102. A5SCts and habib.ties are iftiuUy recwed at historical cost or traThsacrion vgjue unless otherwise ststed in the ccounting tK)]icy notcs. Basis •f A¢¢ountlng The Financial Statements ate prqR£ed in accordance with the hI$tiCal cost convention. The compans fictional and presentauongj currency is the pound st¢diag CGBP?. Golng con¢¢m The company tnade * Sutplus of NITr during the year ended 31 M2rch 2023 (4 sutplus of £Ni] 2022). The chlty will continue to f(Kus on oyerseeing the opet#uon of M2nchcstet's Millennium Quar, wkn.ch besides Urbis comprises Exthaoge Squarq the Manchester cathedr Visitor Centre 2nd Cathedr21 Garden5. The tharicable company has the continuing support of Manchesttr City Councd for the foreseeable fure in thc pursuit of its. charitable objectives. It should be noted that the company has secured a couunitment of support from M2nche5ter Ciry Council to provide approprite resowees Eor & F>etifyJ at least 12 months from the dace of approv of the financial statement Based on the above. the directors have concluded that ir is *ppropriate to adopt the gojng concern basis of accounung in prepating these 6n2ncia] ststements. MQT will continue to monitor the effects of the Covid-19 p2DdtmiC report to Board members aecordingiy.
The Millennlum Quarter Trust Umlted Financial statements lor the year ended 31 Mareh 2023 12 Principal accounting policies (continued) In¢omlno ReUrCeS Voluntary income compIises all incomtsig rtsourc ftom donations. gtfts #nd grants. Donatl•n$ and gifts All monetary donauons 2nd gfts are Jnduded irl 6JU in the statement of flljancial activiues when receivable. provided that there att no donor imposed iesLrictions to the uming of the related txpenditurq in which cast recOgtiOn is deftsred unti] the pre-con(h"tion h2s been met. Intangible income, wlu.ch comprises donaced 5ervice5, is included in iftcomc 2t g vx]u21ion which is an estimate OE the fin2naal cost EK>tne by tht donot where such x cost is quanuf12ble measurable. An equivgjent gJnouni is charged as expeodiwrt No income is recognised when th¢re is no finthcial cost b)me by 2 tknrd pgny. Volunrary hdp is not indudd 2$ Corne. Grants reeeivab Revetlue grants are cre<b"ted as incom2ng rcsourtts when they are receivabk prowded conditions for receipt have been complied with. unttss they Idate ro a specified 6itute petiod i(L which case they are deferted. Incotntng re50urccs from cknitable acuvitics arc accounted for when camed. All exptiaiture is accounced for 00 2n icctu#is basis and has been c12S5ified under he2dings that aggrwte 8Ji costs rd2ted to that caiegory. Where costs cannot be djrecrly attributed to particui•r beidings they have been a(X#ted to acuviiies on a basis consistent with use of tesources. Central ovcrhc2d ci)sts att allocttd to opcr2tion21 fLthctions on the basis of thtit use of ccntr215UPPOtt services. Govexnance costs are the c05tS 2550ciated with the goi'ernance grr2ngements of the compxny which re12tt ro the Eener41 lutmi of the dtatiry gs opposed to those co5 associ2ted with ch2lltable activities. Ioduded NFithJ"n th]"s category ate c05tS aSSOCi3(ed with the 5trategLC as opw)sed to day to day man2serneut of the company's activities. Support costs. whith indudc executive aod devdopmeoi fitJ2nce. Icr. extemai accourktancy. legal, mark.etin& gencrai office and administration, gJlcated aetoss categories of chatitable expenditure. governance costs and the costs of g£net*ting Eunds. Fund a¢¢ountSng Unrestticted fimds ate incoming resources teceiifed orgenerated for exptnditvre on the gznergj objective$ ofthc company at the discretion of the tru5tecs. Restricted funds are 5ubjec¢ed to restricrions on their cxpenth.turc llnposcd by the donor. Cash flow statement The accounts do not iodude a tash fiow statement because the eompths.. as a small reporting comp2ny, is exempt frotn the requirement to prqjare such a ststemetbt under FRS 102.IA.7 Cash Flow St21cment5.
The MllleTrnlum Quarter Trust LOmlt•d Financial statements for the 8V ended 31 March 2023 Principal accounting policies (continued) Grnnts Mad• The chariry gjves ryts with corlditions for irs Yen4 such #re only recognised in the SOFA once th¢ recipient olthe grant has provided the 5Fcified service or outPUL Ind•pend•nt Examlnation The cotnpany is d¥ble for xuth"t exemption under Sectioth 477 of the Companies Act 2(Kl6. The CoMpY is eiigjble for an independent e%amin2ti0n and h#s bttrt given an Unqu2"fied Indq)endcnt Examiners Rtp)rt by Julie Hardman. CPFA. Signbficant adjustments abMI key areas of estimation uncertainty The trusree5 consider there to bc no item5 In thc Ejnxrtoal scatcrncnts whtte they h*ve had to make significant judgements irt the process of aPpIng the Charirfs accounting pob.cies or key 50urccs oEcstimatiOn l(ertainty.
The Millennium Quarter Trust Limited FinancS8l slatements fw th• year eld 31 March 2023 14 Charitable company statement of fjnancial activities (Incorporating the Income and Expenditure account) Total FuDds 2023 Tot¥J Funds Funds Funds Nore INCOMING RESOURCES Vojufttsry incornt 15.(K 15,(KKJ 15,0 tncomingregources from charitgbIe 4c¢ivities Gtants hlnchesrtt Ciry 53.476 53.476 55.5 68.476 68.476 70.580 IIESOURCES EXPENDED Chatitable acuviues CulLud activitie5 aad ptovision of facibties 51325 51525 51616 Governance Cos lQ951 16.95) 17.964 Totyl resoyrtts expttmled 68.476 68.476 Noi ineomits8 fcsoutccs rot theye#r/n income for the year BAnCeS brought forwaid r l Apcii S)22 1gn¢e8 l*rtied fozward at 31 March 2011 The comp2rntive infonnation is for the year ended 31 mth 223. There weie no other iecognised g9ins or losse5 for the fillanc Perio other than the result foi the year. AU results are derived from continuing operations.
The M•llenn•um Quarter Trust Llmlted Financial statements for th• ar ended 31 M4wch 2023 15 Company no 03962470 Charitable company balance sheet 2023 2022 Note Current assets DebtOK5 Cash at b2nk 2nd in hand 63.141 1.825 54,116 3,385 64,966 57,501 Creditors". amounts falling due witl)in one year (64.960 {57.501) Net current LiablUeS Total net $t¢S 10 Funds UnresLricted fiTrnds Restricted funds Total fund5 li The Ttustees consider that the Company is cntided to excmpuon from the requixement to have an audit under the provisions OE section 477 of the Comp2nies Act 2[ C'the Acrf) and member5 have noi teqtiited the Company to obtain an audit Eor the ycat in question accordance with secuoft 476 of the Act. The Trustees acknowledge theit iesponsibilioes for complying WAth the requimnents of th¢ Comp2thies Act 21K16 tespecE to 2ccounting records and the preparation of fin2n021 statement The Fan(la1 stattm¢nts wttt approved by the Board of Ditectors and authorised for issue on 19 S¢ptembet 2023. John Williams Director The iccompanyjag notes fom) part of these firtanci starements
Th¢ Mlllonnlum Quarter Trust Llmlted Financlal $tat¢ments for the year ended 31 Iljarch 2023 Notes to the fmancial statements Incomlng r•sourc•s from voluntary iDcome 2023 2022 Donated serrices 15,IKK> 15,0(M) Is,0 15,0(X Donated serrices compiises accowitancy and company secretarial scrvices ptovidtd by Maftchester ProEcssiong1 Services Limiied. Incom• •Yam ClwItal Actmlles Income, which As stated net of value added t24 represents grants from Manchester Ciry Council. Cost of cultural actlvl¢l•s pr•vl$lan ol faclktl•s 2023 2022 Grtht to the Cathedral Visitor Centre 51.525 51,525 52.616 52,616 Governance costs 2023 2022 Administration 12.IXK) 12,000 Accountsncy 3.0(K) 3,000 Ind¢ptndctLt Au&'t Ftes 120 1,500 In5wance 1,831 1,464 16,951 17,964
The milleblUm Quarter Trust Limited FOnaThclal stateme•bt5 l•r the year end 31 March 2023 17 Notes to the fmancial statements Dlrectors. remuneration and gt•ff costs . No remuneration h25 bceo pd to the eompanrfs direCr5. No expenses h2vc been xeimbur5ed by the company to the direccots. There wttc no employtts in thc year (2022.. none). Taxatlon As a chariry, The Mdjenrtium Quar¢er Tn)s¢ titnired is ¢xeJnpi from tax on income and gains to the extent that these are appb'ed to its charitable obiects. Del>tors 2023 2022 Debtors Prepayments 2nd accrucd income 63.141 52.957 1,159 54,116 63.141 Cr•dltors: •rnounts fallln9 due wlthln one year 2023 2022 Accounts Payable Accru5 Deferred income (note 14) 63,827 1.113 64,966 54.069 3,406 57.501 The defetted income due to Manchester City Council is secured by # fixed and knting ch2Ige ovcr the charitses assets. 10 Analysls Ol nol assets b•tw•en funds Unrestsicted funds Restricted fijnds Total fund Current 2S5ets Curtcnt liabiiitics 64.966 64.96 64,966 64.966 N¢t assets at 31 M#rch 2023
The Millennium quarter Trust Limlted Finaneial stalefflents the year 31 Alarch 2023 Notes to the fm2ncial statements 11 Funds Unrt51rictcd Restricted Toial Funds At 1 April 2022 Jncoming tesources Resources expended At 31 March 2023 64,966 64,966 64.966 64,966) 12 Guarantee The compgA)y is limited by gLwantee Ind h¥s no wthoiised $h#re capitsl. Every member oFthe company Undertak to contribute such gmount As m2y be requed (not exceedmg £1) to the company's asse if it sknuid be wound up whi]st they are member5 or withi.n one year 2Eter they ce25ed to be a membtt. of the costs. chgeS 2nd expenses oEwindLng up and for the adjustment of the iights of the conttibutors themsdves. 13 Ind•mnlty Insuran¢e The compaE]y, on behalf of the ditectors, pd ditect0. itidemnity iosurance with A Chge of £1,831 for the year12022 £1.464). 14 Reed party transa¢tlons Mejnbers and officets of Manchester Caty Couool IMCQ serve ¢)n the Board of Directors. The company's transactions with MCC are sMmat1$td as follows. During the year. gr8mt5 and donated Services Erom Manchester City Council 2mountcd to £68.476 P022.. £55.580). At 31 MgTth 2023 £0 P022: £52.957) was due From MCC At 31 March 2023 £1.113 (31 March 2022: £3,406) due 10 MCC. At 31 M2rch 2023 £0 (2022.. £52.616) was due to Manchester Cathedral Vtsitors Centre During the year, a grAnt of £51.525 P022.. £52,616) was n)2de to Manchester Cathcdr21 Visitors Centre. Manchester C*thedral Visitors Centre is a related party as the Very ReVerd Rows Govender served on the B0d of Dkrectots.