Engine of the North Ltd Draft Summary Financial Statements 2016-17
Engine of the North Limited was incorporated on 30 May 2013 and commenced trading on 22 August 2013. The company’s shareholders are a combination of Cheshire East Residents First Ltd (CERF Ltd) (80% shareholder) and Cheshire East Borough Council (20% shareholder). The company’s main contract rests with CEBC.
Engine of the North (EotN) is a property development company. It aims to be at the forefront of the placemaking agenda promoting innovative and commercial solutions for the Council’s surplus assets. It facilitates new affordable and market housing, jobs and economic growth whilst maximising capital receipts for the Council.
Engine of the North Ltd performed strongly in 2016/17, recording a £9k (2015/16: £47k) profit from its operations.
The financial statements of Engine of the North Limited (the “Company”) for the year ended 31 March 2017 will be issued to the Board for authorisation in September 2017 following the external audit of the company accounts in July/August.
As a wholly owned company within the Cheshire East Borough Council Group, Engine of the North Limited’s results are included in the consolidated financial statements of CEBC which are available from: