LAND SECURITIES (FINANCE) LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2026-07-05 (in 2mo)
Last made up 2025-06-21
Watchouts
None on the register
Cash
£30M
-60.9% vs 2024
Net assets
£335M
+4.5% vs 2024
Employees
—
Average over period
Profit before tax
£34M
+128.5% first positive since 2024
Name history
Renamed 2 times since incorporation
- LAND SECURITIES (FINANCE) LIMITED 1976-12-31 → present
- LAND SECURITIES FINANCE LIMITED 1961-01-16 → 1976-12-31
- LAND SECURITIES MANAGEMENT LIMITED 1961-01-16 → 1976-12-31
Net assets
10-year trend · vs Financials median
Accounts
10-year trend · latest reflected 2025-03-31
| Metric | Trend | 2019-04-01 | 2020-03-31 | 2020-04-01 | 2021-03-31 | 2021-04-01 | 2022-03-31 | 2022-04-01 | 2023-03-31 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | — | -£96,000 | — | £1,000 | — | — | |
| Operating profit | — | -£18,303,000 | — | -£180,208,000 | — | -£20,469,000 | — | -£83,825,000 | -£192,748,000 | £33,894,000 | |
| Profit before tax | — | £95,193,000 | — | -£225,526,000 | — | £14,722,000 | — | -£14,162,000 | -£119,060,000 | £33,924,000 | |
| Net profit | — | £73,177,000 | — | -£198,501,000 | — | £9,710,000 | — | -£28,799,000 | -£135,378,000 | £14,288,000 | |
| Cash | — | £12,939,000 | — | £4,361,000 | — | £2,666,000 | — | £38,176,000 | £77,325,000 | £30,201,000 | |
| Total assets less current liabilities | — | — | — | — | — | — | — | — | £320,873,000 | £335,161,000 | |
| Net assets | — | £673,841,000 | — | £475,340,000 | — | £485,050,000 | — | £456,251,000 | £320,873,000 | £335,161,000 | |
| Equity | £600,664,000 | £673,841,000 | £673,841,000 | £475,340,000 | £475,340,000 | £485,050,000 | £485,050,000 | £456,251,000 | £320,873,000 | £335,161,000 | |
| Average employees | — | 0 | — | 0 | — | 0 | — | 0 | 0 | — | |
| Wages | — | — | — | — | — | — | — | — | — | — |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2019-04-01 | 2020-03-31 | 2020-04-01 | 2021-03-31 | 2021-04-01 | 2022-03-31 | 2022-04-01 | 2023-03-31 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | 21321.9% | — | -8382500.0% | — | — | |
| Net margin | — | — | — | — | — | -10114.6% | — | -2879900.0% | — | — | |
| Return on capital employed | — | — | — | — | — | — | — | — | -60.1% | 10.1% | |
| Current ratio | — | — | — | — | — | — | — | — | 1.05x | 1.05x | |
| Interest cover | — | -0.08x | — | -0.67x | — | -0.09x | — | -0.41x | -0.77x | 0.15x |
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.
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- BDO UK LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have determined that preparing the financial statements on the going concern basis is appropriate due to the continued financial support of the ultimate parent company, Land Securities Group PLC (together with its subsidiaries referred to as the 'Group'). The Directors' going concern assessment covers the period to 31 December 2026 and confirmation has been received that Land Securities Group PLC will support the Company until this date, so long as the Company remains a subsidiary of Land Securities Group PLC. If the Company was sold within the period to 31 December 2026, confirmation has been received that Land Securities Group PLC would ensure the Company remains in a position to continue as a going concern at the point of sale. The Company's ability to meet its future liabilities is therefore dependent on the financial performance, position and liquidity of the Group as a whole. At the Group level, considerations included potential risks and uncertainties in the business, credit, market, property valuation and liquidity risks, including the availability and repayment profile of bank facilities, as well as forecast covenant compliance. Stress testing has been carried out to ensure the Group has sufficient cash resources to continue in operation over the going concern assessment period to 31 December 2026. This stress testing modelled a scenario with materially reduced levels of cash receipts over the next 12 months. Based on these considerations, together with available market information and the Directors' knowledge and experience of the Company, the Directors continue to adopt the going concern basis in preparing the financial statements for the year ended 31 March 2025.”
Significant events
- “The Company has commitments in respect of guarantees arising in the ordinary course of business, for which it is not yet possible to quantify any potential future liability.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 23 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| LS COMPANY SECRETARIES LIMITED | Corporate Secretary | 2011-04-30 | — | — |
| GILLBE, Elizabeth Anne | Director | 2022-01-18 | Feb 1979 | British |
| HOLDER, Duncan John | Director | 2023-09-05 | Mar 1980 | British |
| MAIRS, Cassani | Director | 2020-10-01 | Jun 1984 | Australian |
| SIMMS, Vanessa Kate | Director | 2021-05-31 | Aug 1975 | British |
| WORTHINGTON, Martin Richard | Director | 2016-07-01 | May 1978 | British |
Show 23 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DUDGEON, Peter Maxwell | Secretary | 1998-04-07 | 2011-04-30 |
| JONES, Laurance Aubrey | Secretary | — | 1998-04-06 |
| BUSHELL, Richard Spencer | Director | 2003-02-10 | 2004-09-01 |
| CADWALADR, Marc Peter | Director | 2013-12-31 | 2021-06-28 |
| DEUTSCH, Alastair Michael | Director | 2018-07-30 | 2020-08-06 |
| DOBBIN, Anthony Michael Chetwynd | Director | — | 2004-09-01 |
| DON-WAUCHOPE, Despina | Director | 2012-09-30 | 2013-12-31 |
| FOUNTAIN, Julie Louise | Director | 2018-07-30 | 2022-01-18 |
| FUTTER, Rosalind Charlotte | Director | 2018-07-30 | 2022-08-05 |
| GILL, Christopher Marshall | Director | 2004-09-01 | 2016-07-14 |
| GILLARD, James Stephen | Director | 2021-06-30 | 2022-06-15 |
| GREENSLADE, Martin Frederick | Director | 2005-09-06 | 2021-05-31 |
| HENDERSON, Ian James | Director | — | 2004-07-14 |
| HOLT, David Leslie Frank | Director | 2004-09-01 | 2012-09-30 |
| HUNT, Peter John, Sir | Director | — | 1997-12-08 |
| LEE, Martin | Director | 2004-09-23 | 2007-02-26 |
| LEUNG, Stephen Sui Sang | Director | 2004-09-01 | 2014-03-14 |
| MACFARLANE, Andrew Elliott | Director | 2001-10-02 | 2005-08-05 |
| MOORE, Nicholas Anthony Charles | Director | — | 2002-12-20 |
| MURRAY, James Ian Keith | Director | — | 2001-06-28 |
| STANLEY, Don Eric | Director | 2022-08-05 | 2022-12-13 |
| WEST, Sean Allan | Director | 2004-09-01 | 2012-02-23 |
| WOOD, Martin Reay | Director | 2002-12-10 | 2021-06-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Land Securities Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 172 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-28 | AA | accounts | Accounts with accounts type full | |
| 2025-06-30 | AA | accounts | Accounts with accounts type full | |
| 2025-06-24 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-06-07 | DISS40 | gazette | Gazette filings brought up to date | |
| 2025-05-27 | GAZ1 | gazette | Gazette notice compulsory | |
| 2025-01-14 | CH01 | officers | Change person director company with change date | |
| 2024-06-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-09-22 | AA | accounts | Accounts with accounts type full | |
| 2023-09-06 | AP01 | officers | Appoint person director company with name date | |
| 2023-06-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-03-29 | AA | accounts | Accounts with accounts type full | |
| 2022-12-16 | TM01 | officers | Termination director company with name termination date | |
| 2022-08-05 | AP01 | officers | Appoint person director company with name date | |
| 2022-08-05 | TM01 | officers | Termination director company with name termination date | |
| 2022-06-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-06-16 | TM01 | officers | Termination director company with name termination date | |
| 2022-01-24 | TM01 | officers | Termination director company with name termination date | |
| 2022-01-24 | AP01 | officers | Appoint person director company with name date | |
| 2021-12-16 | AA | accounts | Accounts with accounts type full | |
| 2021-07-30 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
—
Not reported
-
Cash
-60.9%
£77,325,000 £30,201,000
-
Net assets
+4.5%
£320,873,000 £335,161,000
-
Employees
—
Not reported
-
Operating profit
+117.6%
-£192,748,000 £33,894,000
highest in 6 filed years
-
Profit before tax
+128.5%
-£119,060,000 £33,924,000
first positive since 2024
Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers