PETERBOROUGH LIMITED

• ⚠

  Material uncertainty over going concern

  The concept of going concern assumes that a company's functions and services will continue in operational existence for the foreseeable future. This group is a 100% owned Teckal company of Peterborough City Council, established to undertake and deliver services that are essential to the local community. Peterborough Limited is reliant on the continued financial support of its shareholder and parent, and this is expected to continue for the foreseeable future to enable it to continue to operate and to meet its liabilities as they fall due. However, the group is also reliant on the Council continuing to contract with them for the services provided. Following a decision by Council members to bring some services back into the Council, Peterborough City. Council have issued a termination notice for the majority of activities undertaken by Peterborough Limited to finish by 31 March 2026. The directors are working with the Council with a view to transferring services earlier than the termination date if possible. The directors believe that the Council will continue to contract for the services provided by the subsidiary therefore that Peterborough Limited will continue, but with minimal activity going through the company. The Council have indicated to the directors that they have a reasonable expectation that it will have adequate resources to maintain continuity of service provision as outlined in the budget proposals set out in its tactical budget for 2025/26.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Azets Audit Services

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The concept of going concern assumes that a company's functions and services will continue in operational existence for the foreseeable future. This group is a 100% owned Teckal company of Peterborough City Council, established to undertake and deliver services that are essential to the local community. Peterborough Limited is reliant on the continued financial support of its shareholder and parent, and this is expected to continue for the foreseeable future to enable it to continue to operate and to meet its liabilities as they fall due. However, the group is also reliant on the Council continuing to contract with them for the services provided. Following a decision by Council members to bring some services back into the Council, Peterborough City. Council have issued a termination notice for the majority of activities undertaken by Peterborough Limited to finish by 31 March 2026. The directors are working with the Council with a view to transferring services earlier than the termination date if possible. The directors believe that the Council will continue to contract for the services provided by the subsidiary therefore that Peterborough Limited will continue, but with minimal activity going through the company. The Council have indicated to the directors that they have a reasonable expectation that it will have adequate resources to maintain continuity of service provision as outlined in the budget proposals set out in its tactical budget for 2025/26.”

Group structure

1. PETERBOROUGH LIMITED · parent
   1. Peterborough Culture, Heritage, Learning and Leisure Ltd 100% · England and Wales

Significant events

• “P-CHLL: In October 2024 we started trading leisure services in our Not-for-Profit subsidiary Company Limited by Guarantee (CLG) subsidiary Peterborough Culture, Heritage, Learning and Leisure (P-CHLL). This is a great achievement and means that leisure services are now on a cost neutral footing!”
• “Museum: Across all museum revenue streams there was an increase of between 15% and 50%.”
• “Flag Fen Events: The Vikings returned to Flag Fen bigger and better than before. The event generated £25K in admissions, café sales and retail sales from 1,700 visitors over three days.”
• “External Funding: The museum secured £137k from the arts council's funding stream MEND replace the aging lift.”
• “Fun Palace event at Central Library - Peterborough Libraries held their first Fun Palace event at Central Library on Saturday 5th October 2024.”
• “Depot: The Nursery Lane Depot has had the second part of the resurface project completed.”
• “Support for Dogsthorpe: Our property team when above and beyond to support local councillors to find a solution for the installation of the Christmas lights in Dogsthorpe...”
• “Leisure Service: Vivacity Premier Fitness (VPF), since its refurbishment in December 2023, has broken all sales records, except that held by "freedom Day" when covid restricts were lifted.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.