City Building (Glasgow) LLP
City Building (Glasgow) Limited Liability Partnership is a new 50/50 joint venture partnership between Glasgow City Council and the Wheatley Housing Group, set up to provide an integrated, responsive, effective and efficient building repair and construction service to Glasgow City Council, Glasgow Housing Association Limited and other service users, commencing 1 April 2017.
For the period up to 31 March 2017 City Building (Glasgow) Limited Liability Partnership were a subsidiary of Glasgow City Council with the council holding 99.99% of the ordinary share capital. Under accounting standards, the council had a controlling interest in the old company for the period up to 31 March 2017 and has a significant interest in the new company for the period from 1 April 2017. It is therefore included in the Group Financial Statements as a subsidiary for the 2016/17 consolidated group accounts and then as a material joint venture for the 2017/18 consolidated group accounts.
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