CITY BUILDING (GLASGOW) LLP

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Whilst there have been fluctuations in pension assets between 2024 and 2025, these financial statements have been prepared on a going concern basis. When assessing going concern it is important to recognise, any negative net worth resulting from pension liabilities are guaranteed by Glasgow City Council to meet any shortfall within this area. See also Going Concern in Note 1 of the financial statements on page 23. The members believe that the LLP will generate sufficient assets to meet its ongoing trading requirements. Glasgow City Council and Wheatley Housing Group Limited have jointly committed to fund City Building (Glasgow) LLP based on forecasts provided by management for the 12 months from the date of signing these financial statements giving comfort that there is no going concern issue.”

Significant events

• “Following the Court of Appeal ruling in Virgin Media v NTL Pension Trustees II Ltd (and others), and the subsequent announcement by the UK Government on 5 June 2025, legislation is expected to be introduced allowing defined benefit pension schemes to retrospectively obtain actuarial confirmation that past benefit changes complied with required actuarial standards.”
• “Separately, in August 2025, Glasgow City Council and the Wheatley Housing Group, as the two Members of City Building (Glasgow) LLP, approved in principle changes to the legal agreements governing the joint venture. These changes would result in City Building (Glasgow) LLP becoming a subsidiary of the Wheatley Group, with a target implementation date of 1 April 2026, subject to finalisation of the legal agreements.”

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

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  -0.6%

  £154,221,000 → £153,276,000

• Cash

  +14.1%

  £9,628,000 → £10,990,000

• Net assets

  +30.5%

  £7,594,000 → £9,912,000

• Employees

  -4.1%

  1,668 → 1,600

• Operating profit

  -10,956.7%

  -£67,000 → -£7,408,000

• Profit before tax

  +542.6%

  £1,330,000 → £8,546,000

• Wages

  -0.2%

  £61,524,000 → £61,387,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers