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Registered number: 05303295 DEVELOPMENT SECURITIES (CURZON PARK) LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
DEVELOPMENT SECURITIES (CURZON PARK) LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2026 The Directors of Development Securities (Curzon Park) Limited (the "Company") present their report and the financial statements for the year ended 31 March 2026.
Principal activity
The Company is dormant and no change in the Company's dormant status is anticipated in the foreseeable future.
Results for the year and dividends
There was no activity in the Company for the year ended 31 March 2026 and consequently no Statement of Comprehensive Income has been disclosed. The Directors do not recommend the payment of a dividend for the year ended 31 March 2026 (2025: £Nil).
Directors
The Directors who held office during the year and up to the date of this report were:
M J Hood
U and I Director 1 Limited
U and I Director 2 Limited
Indemnity
The Company has made qualifying third-party indemnity provisions for the benefit of the respective Directors which were in place throughout the year and which remain in place at the date of this report.
Small companies exemption
The Directors' Report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. This report was approved by the board of directors and signed on its behalf.
L McCaveny, for and on behalf of U and I Company Secretaries Limited Company Secretary
Date: 30 June 2026
Registered in England and Wales Registered number: 05303295 Page 1
DEVELOPMENT SECURITIES (CURZON PARK) LIMITED REGISTERED NUMBER: 05303295 BALANCE SHEET AS AT 31 MARCH 2026
| 2026 | (Restated) 2025
Notes | £ | £
Non-current assets |  |  |
Investments in joint venture | 3 | 1 | 1
|  | 1 | 1
Current liabilities |  |  |
Net assets |  | 1 | 1
Capital and reserves |  |  |
Share capital | 4 | 1 | 1
Total equity |  | 1 | 1
For the year ended 31 March 2026, the Company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies. Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of the financial statements. The results for the year ended 31 March 2025 have been restated. Refer to note 6. The financial statements were approved and authorised for issue by the board of directors and were signed on its behalf by:
G M Richardson, for and on behalf of U and I Director 2 Limited
Director
Date: 30 June 2026
The notes on pages 3 to 5 form part of these financial statements. Page 2
DEVELOPMENT SECURITIES (CURZON PARK) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | General information
Development Securities (Curzon Park) Limited (the "Company") is a private company limited by shares and is incorporated, domiciled and registered in England and Wales (Registered number: 05303295). The nature of the Company’s operations is set out in the Directors' Report on page 1. The address of Company's registered office is 100 Victoria Street, London, SW1E 5JL. 2. Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared on a going concern basis and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland 'FRS102' and the Companies Act 2006. The financial statements are prepared under the historical cost convention. The accounting policies which follow set out those policies which apply in preparing the financial statements for the year ended 31 March 2026. The financial statements are prepared in Pounds Sterling (£).
| 2.2 | Financial reporting standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102: ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); and ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information and the results of the Company are included in the consolidated financial statements of Land Securities Group PLC, as at 31 March 2026 and these financial statements may be obtained from its registered office at 100 Victoria Street, London, SW1E 5JL.
| 2.3 | Amounts due from Group undertakings
Amounts due from Group undertakings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, amounts due from Group undertakings are stated at amortised cost and, where relevant, adjusted for the time value of money. The Company assesses on a forward-looking basis, the expected credit losses associated with its amounts due from Group undertakings. A provision for impairment is made for the lifetime expected credit losses on initial recognition of the amounts due. In determining the expected credit losses, the Company takes into account any future expectations of likely default events based on the level of capitalisation of the counterparty, which is a fellow subsidiary undertaking of Land Securities Group PLC.
| 2.4 | Amounts owed to Group undertakings
Amounts owed to Group undertakings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, amounts owed to Group undertakings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the Statement of Comprehensive Income over the period of the loan, using the effective interest method. Page 3
DEVELOPMENT SECURITIES (CURZON PARK) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2. Accounting policies (continued)
| 2.5 | Statement of Comprehensive Income and other primary statements
There was no activity in the Company for the year ended 31 March 2026 and consequently no Statement of Comprehensive Income has been disclosed.
| 2.6 | Investments in a joint venture
Investments in a joint venture are stated at cost in the Company's Balance Sheet, less any repayment of joint venture capital and any provision for impairment in value.
| 2.7 | Share capital
Ordinary shares are classified as equity.
3. | Investment in joint venture
|  | £
| Cost |
| At 1 April 2024 | 1
| At 31 March 2025 | 1
| At 31 March 2026 | 1
| The Company holds a 50% interest in Curzon Park Limited, a company incorporated, registered and domiciled in England and Wales. The registered address of Curzon Park Limited is 100 Victoria Street, London, SW1E 5JL. Curzon Park Limited is a joint venture between Derwent Developments (Curzon) Limited and Development Securities (Curzon Park) Limited.
4. | Share capital
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2025: 1) ordinary share of £1.00 | 1 | 1
Page 4
DEVELOPMENT SECURITIES (CURZON PARK) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
5. | Parent company
The immediate parent company is U and I (Development and Trading) Limited, which is registered in England and Wales. The ultimate parent company and controlling party at 31 March 2026 was Land Securities Group PLC, which is registered in England and Wales. Consolidated financial statements for the year ended 31 March 2026 for Land Securities Group PLC can be obtained from the Company Secretary at the registered office of the ultimate parent company, 100 Victoria Street, London, SW1E 5JL and from the Group website at www.landsec.com. This is the largest and smallest Group to include these accounts in its consolidated financial statements.
6. | Impact of prior year restatement
| The results for the year ended 31 March 2025 have been restated. This arises from the incorrect allocation of intercompany loan balances between counterparties in prior periods, which resulted in the gross presentation of intercompany receivable and payable balances that did not reflect the underlying substance of the arrangement. As a consequence, the Company's intercompany loan balances were misstated, impacting the Balance Sheet as at 31 March 2025. There has been no impact on the profit recorded in prior years, or on the Company's net asset position in the prior years.
|  | 2025
|  | £
| Amounts due from Group undertakings |
| Balance as at 31 March as stated | 3,717,500
| Adjustment | (3,717,500)
| Restated balance as at 31 March | -
| Amounts owed to Group undertakings |
| Balance as at 31 March as stated | (3,717,500)
| Adjustment | 3,717,500
| Restated balance as at 31 March | -
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