Una'udit'td'Financial°: Statements The Millennium Quarter Trust Limited (A company limited by guarantee) For the year ended 31 March 2025 *AETFXLN4* 1010112026 COMPANIES HOUSE A05 #223 Company No, 03962470 Charity No. 1090859 The Millennlum Quarter Trust Limited Financial statements for the year eftded 31 March 2025 Comp,any information . .'Charity regl$tratlon number 90859 Compan¥ reglstratlon number 03962470 Reglstered 4)fflée: c/0 M￿chester Professional Services Litnited I￿Ve1 S Town Hall Extension Albert Square anchester England M60 2LA Dlrectors: John WJlli2ms The Very. Rcvercnd Rogcrs Govcndcr Jane Elizabeth Sh¥kriocks Joan Elizabeth Davies Secretary: . Manchester Professional Services Limited Banketè.: Bardays Bank PLC sl Mosley Street Manchester M2 3HQ Independant Exafftiner. Jade Brunt, CPFA Financial Managcmcnt MAnchester City Council Town Hall Extension Albert Square Manchester England M60 2LA The Millennium Quarter Tryst Limited Financial slatements for the year ended 31 March 2025 Index to the fifi'a?cial statements . Report.of the Dlrectoffs .Independent Examlners. Report Prin"cipal accountlng policies 10-12 Charlta'llle éoffipany #tatement .of •lnanclg1 aGtivitlès 13 Charltablicompany balanc•.sheet. 14 Not•s.to'the flnan_¢lal slat•ments.. 15-17 The Millennium Quarter TNst Limited Financial statements for the year ended 31 March 2025 Rèport of the Directors L"¥ The: Directors Firesent their report together with the unaudit¢.d fmancial statements for th.e year ended 31 March 2025. Refer•nco and admlplstratlve detalls The Millennium Quarter Trust Limited (MQT,) is a cornpany limited by guarantee (company number 0396247.0) and docs not have any S￿￿e capital. The company is also a rcystcrcd chariry (charity'ftumber 1090859). The current members of MQT ate Minchester City Councit (MCQ and the Deans and Canons of the C2thedral and Collcgjate Church of S3int Mary, S?int Denys and Saint Gcorge. The Bo%rd of the company comprises nominees of Manchester Ciry Council, The Dean and Canons)06 Manchester CathedL21.And a number OE independent trustees who hav.e beeo apk)ointed for their expertise. The Directors ire Lts trustees for the puipose of chariry law. The charity is govetned by its memorandum and articles of association last amended by special resolution on 30 January 2002. Dlreetors . The Directors (who also trustees of the charicable company for the p_urposes of chariry law), who setved during the year, and since the yeir end 2re as Follows., John W1￿.aMS (appointed 7 April 2003) The Very Reverend Rogers Govender (appointed 27 June 2006) Jane Elizabeth Sharrocks (appoiAted 4 September 2014) Joan Elizabeth Davies (appointed 25 September 2018) The Millennium Quartor Tryst Limited Flnancial statements for the year ended 31 March 2025 . Rèport of the Di[ectors Structute . vernance and.,Mana>'ement ' .1 obl., Or&ianisation The company is adniinistered by. the Board. of Directors. During the fin2nci21 period thtr%- oard met on one occasion and its principal busincss ha5 bccn.. To receive regular reports on the operation of the Manchcster Cathedral Visitor Centye. ' To receive regular reports on the National Football Museum at the Urbis building. To receive regutar reports on thc development of the Millennium Quarter. Rlsk Pllanagement The Directors have implemented systems and procedures to identify 2nd mitigate the major risks the company faccs, and to ensure consistent qualiry of dcb-vcry for all operauonal %spects of the company. Parucular attention has focussed on the &C￿th and safety OF the public and members of stafE. ObJectlvo8 aiiA"Actlv•ll•s.. The objects of the company are ¢stablishcd a5.. For the general benefjt of the public: 1.1 To pr¢serv¢ buildings and conserve, miintain ind protect land or other properry of the aestheuc, historic, architecttLraL, constructional, scientific interest or impotiance in the Manchester Millennium Quarter project arca; 1.2 With or without 2SSiStance from others the provision of Facilities in the interests of soci2L welfare for recreation and. other leisure cime occupauon in the fvIQT project area and for the.designated-surroundin¥areas wit.h the￿bJeCt-0￿impr0vIng the"condition￿Of-l1ft￿Otr - such persons having need of such facilities'by reason of their age, gender, youth,. infirmity, disablement, poverty and soci21 ot economic circumstances. wd 1.3 The advancement, improvement, promotion and development of the education of the pubh'c by piomoting cultural activities incluth'ng exhibitions, infoimauon services on themes iel2ting to cities, lectuies, demonstrations, perForm2nces of drama, music, opera and ballet, dance, 61m shows> poetry re&&'ngs. pointing and scUlptt￿e, lj'terature ￿d other arcs. The Millennium Quarter Trust Llmlted Financial statements for the year ended 31 March 2025 Report of tbe Directors Ob'jectives an Activitiel (Continue 11 i.ill' Irr,rlhffrTII' 11 i.Ill' li i ill T.he main objective ol MQT is to oversee the opèration of.IManchester's ThLdiennium Quarter, which is ia distinctiv&cultural area in historic mediev21 sector of M2nchest¢r. The IN(illennium Quarter was created as part of the trttster plan for rebilliding the city centte tollowing the catastrophic damage suscained in the explosion of June .1 99<). It compriscs fouI elements.. Exchange s.quare - a hard12ndscaped civic space adjacent to the retail core. the Manchester Cathedtii Visitor Centre which contillis the tenovaced Hanging B￿Idge, an exhibition about the Cathedral, meeting rooms and a café. Cathedr21 Gardens - a new green public space with trees, water features 2nd seating are25 2nd Urbis which is situated in Cathedral Gardens (now thc National Football Museum). Manchcster City Council is direcdy responsible for the ongoing maintenancc of Exchange Square cathedr￿ Gardens. The C2thedrai is responsible lor the operltion of the C2thedral Visito£. Centte. An annual contiibuuori of deficit funding OF £54,.395 in fin2nci&L yeax 2024/25 from MQT towards operaung costs has been accrued (2023/24.. £48,943). Flnartelal rl$K marfagefftent OblectlY•s and'pollcles . The principa] financial instruments of the company are cash, oper&ting debtors 2nd operating creditors. The objecuve of the company in relauon to these'insttuments is to ensure that none of them pose a materiAL thr¢at to the unIestricted' reserves of thc company. All cash is held in Pounds SteIling with Barclays Bank plc. The primary ris1< facing the comp74ny is the loss of support from MAnchcster Ciry Council, This risk has been miugated by an undertaking of support (as det9Jled in the Principal Accounting Policies) given by Mi anchester City Councd. Fundlng Any deficit of the ChiritAble Company is funded by Manchester Ciry CounciL. The company can meet all outgoing items of expenditure and future plans and conyDitments. The company did not engage in any investment actiiTity during the flnancial period. Restrleted fund The company does not hold any restricted funds. Reserves pollcy . The compiny has approved 2 ieserves Po￿.CY which has identified only 2 minimal need to accrue reserves for contingencies or investment opportimities. This poiicy takes account of the C￿rent scope of charitable 2ctiviues as UTell As future artangemcnts with MCC. The resctves held on 31 March 2025 were £nii (2024.. £nil). Investment poll$￿. The coffipafy power t￿inVEst. the ￿0-n1￿C of the company not immediately required lor its purposes in investments, securfftues or pioperry thought fit, subject to current law. The company did not mak-e investments during the period covered by. these accounts. The Mlllennlum Quarter Trust Limited Flnancial statements for Ihe year ended 31 March 2025 Reiiort of the Directors Golng.concern I:, A,Ftst tnaking enquiries,. the Boa .h?s a reasonable exp¢ctation that,. the company has adeguat resources.to meet its debts. as they f￿due foi the foreseeable futute, being a period-. of tsvelve months after the date on which the Ieport and financial statements,are signed. For this reAson" it continues to adopt the going concer.n basis irt p'reparing the fmaocial statem'ents. ￿Urther infomiati.on is ￿Ven in the. accounting policies (page 10). It should be noted th2t the comp2n) has secured a comtnittnent of support from M2nchester City Council to provide appropriate resouices for a period at least 12 months from the date of approval of the fAnancial statements. Dlr•ctors' responslbllities lor tb.e financlal'statementg The Trustecs (who are also Direccors of thc Mittennium Quarter Trust for the purposes OE company law) are responsible foi preparing the Trustees, Annual Report 2nd the fAnanciaL statements in accordance with 2ppLicible law and regulations. omp.any law requiies the trustees to preP￿e fin2ncixl st#.Ements for eich financial period. Under that law the trustees have elected to prepare financial statements in accordance witEI United I(ingdom Generally Accepted Accounting Pracuce (UrLited Kingdom Accountsng Standards And applicablc law) including FRS 102. The Financi￿ Reporting Standard %pplicable in the UIC and Republic of Iieland. Under comp/ny law the trustees must not approve the fin2ncial statements unless they satisfied that they_give 2 true and fair view of the stite of ffairs of the charitxble company 2nd the company and of the incotning resources and application of res0￿ceS, induding the income ￿d expcnditure, of thc charitablc company for that pcriod. In prepAring these f)nanci￿ statements, the trustees are required to: select suitable accounting polj'cies and then apply them consistently. observe the methods and principles in the Chariues SORP (FRS 102). make judgements and accounting estin]ates that are reasonable and prudent. prepare thc financiaL statements on the going concern basis utdcss It is inappropriatc to presume that the charitablc company will continue in business. The Trustees are responsible fot"keeping adequate accounting records that are suffictent to show and explain the charitible compiny's tL2nsactions and disclose wfftth reasonable accuracy at any time the fAnanciAI position of the company and enable thcm to ensure that the financial statements comply with the Companies Act 2006. They are a]so responsible for SafegU￿ding the assets of the charitible compxny gnd hence for txjung reasonable steps foL' the prevention and detection OF fraud and other irregularities. The M411onnium Quarter Tryst Limitod Financial statements tor the year ended 31 March 2025 Report of the,Directors Directors,. indemnit- The company, oo behalf 9E the Directors,..has Diiectors, indemrAity Ins￿2nce with a charge irA the period oF£I,511 in 2024/25. (2023/24: £1,904). Small comiiany exemption This repott been prepared in accotdance with the special provisions ot Ljart I S of Companies Act 2006 relating to small companies. Independont:Exarnlnatloft The company is below the 2udit threshold For both the Companies ind Charities Act tcquirements but requires an Independent Examination. The accounts for the yeat ended 31 March 2025 have been gnven an Independent Eximin¢rs' Report by Jade Brunt, CPFA. BY ORDER OF THE BOARD John willi￿1$ For on behalf of Thc MillenrLium Quartei Trust Limited Director The Millennium Qyarter Twst Limited Flnanclal statements for Ihe year ended 31 March 2025 lndependent.èxaiiilnerfs rèport to.the trnstees of The Mlllennlum Quarter. Trust Limi j ,jk,I' I report n the,alcounts-oFThe Millenniu -Quarter.Trust LitThte March 2025, wkn'ch are set out on pages 13 to 17. for the year ended 31 ' This report is made solety to the":tharitsble cotnpany's ti￿steeS, as a body" in accordance with the regulations made under section 154 of tlie Charities Act 2011. My work has been undertaken so that I might state to the charitable company's trustces those m2ttcrs 12m required to state:'to them in an independent exatnirAer's report for no other purpose. To the fullest extent permitted b), l%w, I do not iccept or assume responslbility to anyone other than the ch21itsble compan 57 and the charitable company's trustees as a body, Eor my work, for this report, or For the opinions I have lotmed. R•spo¢tlv.• re•poty$.Ibllltl•*of trii•t•è$.artd. axa￿l￿ar.. The trustees (who also the;Directors of the charitable company for the puTroses of company law) ale responsible for the preparition of the accounts. The charitable company's trustecs considcr ihat an audir is not required for this year (undcr sccts'on 144(2) of the Charities Act 2011 and Part 16 of the Comparlies Act 2006 and that 8n independent examination is needed). Having sausfied myself that the charitable company is not subject to audit under company law and is ell￿ble for independent ex2mination, it is my iesponsibility to: exatnine the accounts under secuon 145 of the Charities Act 2011. to follow the proccdurcs laid down the gcneral l)irections given by the Charity Commission under section 145(5)(b) OE the Charities Act 2011. 9thd to state whether particular matters have come to my attenuon. Basls ol Indeyendént •xamln•es Statément My. eyaminats'on was carried out.in accordthce with the'general Dirtceions ￿Vert by the c.harity Commission. An exsunination includes % comparison of the accounts with the accounting records kept by the charitable company. It also includes considerauon of any unu5u31 items or disclosures in the accounts and seeking explanacion5 from you a5 trustee5 conceining such matters. The procedures undert2kcn do not provide all the eiwidence that wou]d be required An an audit, and consequend)T no opinion is ￿￿Ten as to whether the &ccounts present a 'true and EaiK' view, and the report is limited to those matters set out in the statement below. Indepefident exgnlinetrs statément. In connecuon with m)T exan]ination, no matter has come to my attention: wluch gives me re8SOn2ble cause to believe that 2ny mateLial respect, the requirements: to keep accounting tecords in accordance with section 386 of the Companies Act to prepare accounts which accord with the accounun% records. to comply with the accounting requirements OF the section 396 of the Companies Act 2006. and to comply ivith the Statement of Recommended Practice 'Accounting and reporung by Chaiiues.. Stacemenc OE Recommended Practice appticAble to chxrities preparing their accounts in accordance with the Financial RepoKung Standard applicable in the UI< and Republic of Ireland (FRS 102) (efEecuve Januiry 2019), The Millennium Quarter Trust Limited Financial statements for the year ended 31 March 2025 have not been met oi to which, in my opini, unde .stlnding of the n, fattention should be draw ccounts to be reached. rder to enable a prop'er JAde Bn￿t, CPFA Mlnchester City Council - Fin￿e1￿1 Management Level 5 Town Hall Extension Manchester M60 2LA 23 December 2025 The Millennlum Quarter Trust Llmited Financial statements lor the year ended 31 Maych 2025 10 i OIL, Basis of. preparation The financial 5tatcme Charitics.. Statement o. have b}" en picpared in accordance with Accounting &Tleporting ky Recommended:Pr2cuce ap-h'cablc to chariues preparin , their f￿anCIal statements in accord￿)Ce with the Financi21 Reporting Stand2rd applicable in the UI< & Republic of Irel2nd (FRS102) (effecuve l Janvary 2019), Chariucs SORP (FRS102) and the Companies Act 2006. The charity ffis not requited to.prepate a cash flow st%tcment, being a small enury under FRSIO2. The Millennium Quarter Trust Litnited meets the definiuon of a public benefit enury under FRS102. Assets and ts'abdities are initially recogrnsed #t kn'storicai cost or transacuon value unless otheiwise.stated in the accounting policy notes. Ba$18 ol:.AGCOUntlng The Financial St2t¢ments are prepared in accordance with the historic￿ cost.convenuon, The compiny's functional %tnd presentation21 currency is the pound Ste[￿.ng ('GBP?, Golng concern The company made a Surplus of Nil durAng the yea¢ ended 31 March 2025 (I sutplus OE £Nil 2024). The Chariry will continue to focus on overseeing tiie operation of Manchester's.'Millennium Quarter, which besides Urbis comprises Exchange Square, the Manchester cathedr￿ Visitor Centre and Cathedral Gardens, The charitablc company has the continuing support of Manchester Ciry Council For the foreseeable fuNre irt the pursuit of its, charitable objectives. -It-&hould-be-notad-tha.t-thfrcompan￿haS*¢cu.red-&e0￿MItmen¢ @f-suppor.t.Eqom.M.anchester Ciry Coun'cil to provide appropria'te resources for a petiod it lèast￿.2 months frfom the date of= approval of the fjnanciaj scatements. Bised on the above, the Directors have conclud¢d that 1¢ is appropriate to adopt the going concern basis of accounung in prep2ring these financigl statements. Tho Millennium Quarter Trust Llmlted Flnanclal statements for the year ended 31 March. 2025 11 Principal accounting policies i.continued) .Incoinlng ResourGes,j Voluntary income prises 9Jl incoming. reso rce from donations, gifts and .nts. Donatlons.:and':glfts.? All monetaty donations and giEts 2re iticlthded in Fl￿ In the statement of f￿anCial,8(tsVIrICS when receivable, provided that there are no donor-imposed restrictions as to the timing of the related expenditure, irL which case recogniuon is deferred until the pre-condition has been met. Intall￿bIe income, whicii comprises donated services, is included in income 2t a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantif12ble 2nd measurable. An equivalent amount is charged as e.xpenth'ture. No income is tecognised when there is no f￿anci9J cost bomc by a third P￿ty. Voluntary help is not induded as income. Grants recelvable Revènue grants are credited as incoming resource5 when they receivable provided.con(liuons' . for rcccipt have becn'comp￿.ed with, unless they rdate to a spcci6cd ￿tUre period, in which case they deferred. Incomlng_r•sourc•s from ¢harit•bl• aetivitl•s Inconiing resources from.charitable acuviues are accounted for when carned. Resourceg expended All expendiNte is accounccd for on an accruals basis.and has been dassified under he%dinbrs that aggregate all costs related to that category. Wheie costs cannot be direcdy attributed to parucular headings they have been ￿L0¢￿ted to activities on i b2sis consistent with use of resources. Central Overhe￿ costs ￿lOCated to operauonal functions based on theii use of centsal support services. Governance costs are the costs associated with th¢ governance arrangements of the company hich-relAte-t(Tthe-genergJ runrLing-of th'e-ch'2rity'asT)pposed to-thos'e-costs-ass'ocilted-with charAtable acuvities. Included withir.) this category are costs associated with the strategic as opposed to day-to-day management of the company's activities. Support costs, which include executive and development, finance, ICT, external account5Lncy, legal, m1< iketing, genert41 office and administrauon: are allocated across categories of charitable expendi￿re, govcrnancc costs and the cost5 of generating funds. Fund accountlng Uniestricted funds are incoming iesouices received or generated fot expenditure on the general objectives of the company at the discreuon of the trustees. Restricted funds are subjected to Iestriction5 on their expendiwrc imposed by the donor. Cash flow stgtemont . The accounts do not include a cash flow statement because the company, as 2 small repoiting -xsuch a St&tem£￿t under FR company,iex￿￿ FLOM the reqwem£ot tO￿￿par 102.IA.7_C2sh Flow JLdlii"ii¥iilb. The Millennium Quarter Trust Llmited Financial statements for the year ended 31 March 2025 12 Principal accounting policies (continued) Indep.endettt Examination i., The company, is ekn'gjble lor autht exemption under'sectson 477, fthecom .Act 2006. The Compan￿ is eijgible t6)r an indep.endent examinauon and has?been,.given an unqualified Independent Examiners .Report by Jade B'runt, CPFA: Signif￿an* adjuatments and key areas of ¥stlmatlon urf¢ertJ6nty The truscccs consider there to bc no items in the financigj statements where they have had to make significant judgements in the process of applying the Charity's accounting policies or key sources OE estimation uncertainty. The Millennium Quarter Trust Limited Financial statements for the year ended 31 March 2025 13 Untestritied Funds -•2025 Restritted Funds 2025 T¢tal Funds 2025 Tot Funds 2024 Noi¢ INCOMING RESOURCES Incoming te8ouree9 from genetated funds Voluntary income 4,300 4.300 15,000 Incoming-re$our¢¢i from ¢h2rit•ble activitie8 Gtants fit>m Manchcstcr G"ti, Councd 55,906 55.906 50.862 Total incomin8 rc8ource8 60.206 60,206 65,862 RESOURCES EXPENDED Charitable acuvlties cu1wr￿ Acuviues and provision of faciliues 54.395 54.395 47,118 Govcrnftncc Costs 5,811 5.811 18,744 Total re8ourceB expended 60.2CkS 60,206 05,862 N￿l'lA¢0M1tig tes'ourcti"tot-thvyear/net it(comè"ftst the year Balances brought Fonvnrd gr 1 Aptti 2024 B818nce$ carried fonv8td at 31 March 2025 The comp2r2uve informiuon is for the year ended 31 March 2024. There were no other retognised gains or losses for the fin2ncial period, other than the result for the year. Al] resulcs are derived from continuing operations. The M•llennium Quarter Trust Limited Flnanclal statements for the year ended 31 March 2025 14 Company no 03962470 Chari,table compa y balance sheet L,, 4 11 i Note Current assets Debtors Cash at bank and in hand 68.352 65,670 68,3S2 65,670 Creditors: amounts falling due within one year (68,352) (65,670) Net current b'abllities Total net assets io Funds Unrestricted funds Rescricted fiuids Total funds li The Trustees consider that the Comp2ny is entirled to exemption from the requirement to have an audit under thc provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the Company to obcain an iudit for the year in question in accordance with scction 476 of the Act, rustees ac ledge their responsibilities for complying with the requirements of the Companies Act 2006 with rcspect to accounting records and the preparation of financigj statements. The financial statements were apptOlTed by the B0￿d of Director5 and authori5ed for i55ue on 5 January 2026. {lfv Vlllk John Williams Diiector The Accompanying notes foim patt of these financial statements. The Mlllennlum Quarter Trust Limitod Financial statements for the year'ended 31 March 2025 15 Noties to the F￿ancial statements 1ncoming.resoukesllrom LJU untary IAC. 2025 2024 Donated setvices 4,300 4.300 15,000 15.000 Donated services comprise accountancy and company secretarial services provided by Manchester Ciry Council and Manchester Professional Services Limited tespectively. In¢orne.from Charitablè Activities Income, which is stated net of value added tax, represents annual lease contnbutson from Manchester "Ciry Council. Cost of cultural actlvltiéa. and pro.yl8lon.'of.facilltjè• . 2024 Annual Conttibutson to the M￿CheSter Cathedrlli Visitor Centte 54,395 54,395 51,907 51,907 Gov•rnanq• co¥t• 2025 2024 Administtation 1,300 12,000 Accountancy 3,000 3,000 Pr0Eession￿ Fees 1,840 Insurance 1.511 1,904 5.811 18,744 Dlr•¢tOVS' r•mun•ratlon and'4taff e•sts . No remunerauon has been paid to the compafty's thIe¢tors. No e¥penses have reimbursed by the company to the directors. There ivere no employees An the y.ear (2024.. none). The Mlllennlum Quarter Trust Limited Financia'l statements for the year ended 31 March 2025 16 Note's to the fmancial statements 6 1. Taxatlon ". uu Ll As 2 charity, The Millennium Quarter Trust Limited is exempt fro-m tax on income and ￿nS to the extent th-at these are applied to its charitable objects. Debtors 2025 2024 Debtors Prepayments stnd accrued incorne 67,839 513 68,352 65,670 65,670 Cr•dltors:'amountsfalllng dué wlthln one year 2025 2024 Accounts P2yable Accrua15 Deferred income 67,839 513 61,926 3,744 65,670 68,532 10 Analysi? of nelf.ssètB b.ptwéeff.fundg Unrestricied funds Resttlcted fund$- Total funds- Current assets Current b'abilities 68,352 68,352 68,352 68,352 Net assets at 31 March 2025 11 Funds Unrestricted funds Restricted funds Total Funds At l April 2024 Incoming resources Rcsouiccs expended At 31 March 2025 60,206 60,206 60,206 60,206 12 Guarantee. The company is limited by guar2ntee And has no Authorised share capital. The Millennium Quarter Trust Limited Flnanclal statements for the year ended 31 March 2025 17 Notesi to the fmancialsstatements , pkes.to c . ntribute such £1) to the-company's asse￿. if it jhoul4.be wound Ip wh'ilst they- XFe¢dingi_-. r&kinembers or ivithin'ong year_'Ifter they cease-d to be a member, of the costs. charges and expenses of windyng up and for the adjusiinent of the rightsEE the co9tributors themselrfes. 13 Indemnlty Insurance The company, on behalf of the ditectors, has paid directors, indemni_ry insurance WAth a charge of"£1.511 for the year (2024 £1,904). 14 Related party transactions Members of Manchester City Council (MCC) serve on the Board OE Directors. The company's transaction5 with MCC are summuised as follows. . During the year, ￿)nu￿ conrribuuon (defjcit grant), grant and donated scrviccs from Manchester Ciry Council amounted to £58,906 (2024: £48,943). At 31 March 2025 £67,838 (2024,. £0) was due ftom LMCC. At 31 m￿Ch 2025 £0 (2024.. £3,744) wis duc to MCC-. ManchesteL cathedr￿ Visitors Centre is a related party as the Very Reveiend Rogers Govender served on the Board of Directois. During the year, an annual contribution (dcficit grant) of £54,394 (2024: £51,907) was madc to Manchester Cathedral Visitors Centre Litnited, At 31 March 2025 £67,838.42 (2024; £0) was due to Manchester Cathedral Visitors Centre, -15.- Event• after the. ertd'.Of Ihe-r•po.rting.perlod.. Since the balance sheet date, the charity has received notice from M￿CheSter City Council of their intention to exercise the right to challenge the ￿nUal leise contribution (deficit grant). This event relates to conditions that arose after the end of the repoiting period ind, as such, does not require adjustment to the Amounts recognised in these financial statements at this stage. It is not Possible to esumate the fin2nci21 eflect of this event at the date of approval of these financial statements. The tru5cee5 have considered the impact of this event and do not considcr it affects the charity's abi]iry to continue os a going concern.