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LS BANBRIDGE PHASE TWO LIMITED
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REVISED NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
1.Accounting policies
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 Republic of Ireland ('FRS 102') and the Companies Act 2006. The financial
statements are prepared under the historical cost convention.
LS Banbridge Phase Two Limited (the ‘Company’) is a private company limited by shares and is incorporated, domiciled and registered in
England and Wales (Registered number: 04165904). The nature of the Company’s operations is set out in the Directors' Report on page 1.
The results of the Company are included in the consolidated financial statements of Land Securities Group PLC which are available from
the Company's registered office at 100 Victoria Street, London, SW1E 5JL.
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 (£) and are rounded to the nearest thousand pounds (£000).
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Financial reporting standard 102 - reduced disclosure exemptions
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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, in
which the entity is consolidated.
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Amounts owed to Group undertakings
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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.
The directors believe that preparing the financial statements on a going concern basis is appropriate due to the continued financial support of the ultimate parent company Land Securities Group PLC. The directors have received confirmation that Land Securities Group PLC intends to support the Company for at least one year after these financial statements are approved and signed.
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Statement of Comprehensive Income and other primary statements
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There was no activity in the Company for the year ended 31 March 2026 and consequently no Statement of Comprehensive Income has been disclosed.
Ordinary shares are classified as equity.
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Amounts owed to Group undertakings
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Amounts owed to Group undertakings - fellow subsidiary
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Total amounts owed to Group undertakings
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The unsecured amounts owed to Group undertakings are interest free, repayable on demand with no fixed repayment date.
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