Annual Report 2012 - Development Securities PLC

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Financial Statements continued Notes to the Company Financial Statements continued For the 14-month period ended 29th February 2012 38 Reconciliation of movements in shareholders’ funds 114 Development Securities PLC / Annual Report 2012 Share capital £’000 Share premium £’000 Capital redemption reserve £’000 At 1st January 2010 41,128 103,961 1,631 — Net proceeds of issue of new shares 20,048 — — 73,678 Transfer of merger reserve to profit and loss account — — — (73,678) At 31st December 2010 61,176 103,961 1,631 — At 29th February 2012 61,176 103,961 1,631 — Profit and loss account £’000 At 1st January 2010 77,289 Loss for the year (8,467) Transfer from merger reserve 73,678 Final dividend 2009 (1,974) Interim dividend 2010 (1,974) At 31st December 2010 138,552 Profit for the year 24,705 Share based payments 21 Final dividend 2010 (2,937) Interim dividend 2012 (2,937) At 29th February 2012 157,404 The profit after tax of the Company was £24,705,000 (31st December 2010: £8,467,000 loss). 39 Contingent liabilities The contingent liabilities of the Group are set out in note 24. The Company has provided guarantees in respect of loans and overdrafts of its subsidiary entities totalling £149,299,000 (31st December 2010: £119,472,000). In addition, the Company has guaranteed the performance of subsidiary entities under a range of operating obligations, none of which is expected to give rise to a liability in the Company. 40 Related parties Related party transactions are the same for the Company as for the Group. Details can be found in note 26 of the Group financial statements. The Company has taken advantage of the exemption within FRS8, not to disclose transactions with wholly owned subsidiaries. Merger reserve £’000
Financial Calendar and Advisors Financial Calendar Annual General Meeting Payment of Ordinary dividend Announcement of Interim Results to 31st August 2012 Company Secretary H M Ratsey ACIS Registered office Portland House Bressenden Place London SW1E 5DS Telephone: 020 7828 4777 Facsimile: 020 7828 4999 Website address www.developmentsecurities.com Registered number 1528784 28th August 2012 26th October 2012 October 2012 Incorporation Development Securities PLC is incorporated in Great Britain and registered in England and Wales Auditors PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors Principal bankers Aviva Commercial Finance Limited Barclays Bank PLC Lloyds Banking Group Santander Group The Royal Bank of Scotland plc The Co-operative Bank Corporate solicitors Linklaters LLP Financial advisors Rothschild Corporate stockbrokers Peel Hunt LLP Barclays Bank Plc Registrars and transfer office Capita Registrars Northern House Woodsome Park Fenay Bridge Huddersfield West Yorkshire HD8 0GA Telephone: 0871 664 0300 Calls cost 10p per minute plus network extras Lines are open 8.30am – 5.30pm Monday to Friday Overseas telephone: +44 (0)208 639 3399 Development Securities PLC / Annual Report 2012 115
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Developing value Annual Report 2012
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Financial Highlights Demonstrable o
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annualreport2012. developmentsecuri
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From left to right: Michael Marx Ch
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Operating Review Developing value T
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Westminster Palace Gardens, London
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Development Securities PLC / Annual
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Bexleyheath, Kent A prominent retai
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Development Securities PLC / Annual
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328 Sandbanks Road, Dorset A single
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Development and trading assets Watf
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Investment assets Property Manchest
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Bannerbrook Coventry Braehead Glasg
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Investment property - key statistic
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Case study St Andrew’s Club Earli
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Case study Who Owns the City In Nov
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The £15.6 million bank loan to the
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Result for the period and movement
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The Group’s share of joint ventur
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details of the share option schemes
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The Directors have no present inten
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Disclosure of information to audito
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Company. V M Mitchell chaired a mee
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Internal control The Directors ackn
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Remuneration Report Dear Shareholde
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) Annual bonus The non-pensionable
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In addition, the Committee must be
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Page 67 and 68: Financial Statements Group Independ
Page 69 and 70: Consolidated Balance Sheet As at 29
Page 71 and 72: Consolidated Cash Flow Statement Fo
Page 73 and 74: staff to manage the property (over
Page 75 and 76: g) Intangible assets (i) Goodwill G
Page 77 and 78: Available-for-sale financial assets
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Page 81 and 82: Investment £’000 Development and
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Page 85 and 86: 14-month period ended 29th February
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Page 91 and 92: Financial Statements In July 2011,
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Page 95 and 96: Available-for-sale financial assets
Page 97 and 98: £38,000,000 variable rate loan £2
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Page 103 and 104: Share-based payments The following
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Page 107 and 108: 28 Post balance sheet events Since
Page 109 and 110: Company Balance Sheet As at 29th Fe
Page 111 and 112: No expense is recognised for awards
Page 113 and 114: 35 Financial assets Financial State
Page 115: Financial Statements Any options gr
Page 120: Development Securities PLC Portland
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Annual Report 2012 - Development Securities PLC

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