Annual Report 2012 - Development Securities PLC
Annual Report 2012 - Development Securities PLC
Annual Report 2012 - Development Securities PLC
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annualreport<strong>2012</strong>.<br />
developmentsecurities.com<br />
<strong>Development</strong> <strong>Securities</strong> <strong>PLC</strong> is a property<br />
development and investment company.<br />
Our principal objective is to create value and<br />
growth through real estate development and<br />
regeneration in sectors and locations in the<br />
UK where demand is in evidence, generating<br />
maximum value for shareholders.<br />
Contents<br />
1 Financial Highlights<br />
2 Chairman’s Statement<br />
4 Chief Executive’s<br />
Statement<br />
6 Business Model<br />
7 Executive Team<br />
8 Group Strategy<br />
9 Risks<br />
10 Geographic Focus<br />
11 Operating Review<br />
32 Corporate Responsibility<br />
36 Financial Review<br />
45 Board of Directors<br />
46 <strong>Report</strong> of the Directors<br />
52 Corporate Governance<br />
57 Remuneration <strong>Report</strong><br />
65 Group Independent<br />
Auditors’ <strong>Report</strong><br />
66 Consolidated<br />
Statement of<br />
Comprehensive<br />
Income<br />
67 Consolidated<br />
Balance Sheet<br />
68 Consolidated Statement<br />
of Changes in Equity<br />
69 Consolidated Cash<br />
Flow Statement<br />
70 Notes to the<br />
Consolidated<br />
Financial Statements<br />
106 Company Independent<br />
Auditors’ <strong>Report</strong><br />
107 Company Balance<br />
Sheet<br />
108 Notes to the Company<br />
Financial Statements<br />
115 Financial Calendar<br />
and Advisors
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