Registered number:
02772969
ECC INVESTMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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ECC INVESTMENTS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The Directors of ECC Investments Limited (the "Company") present their report and the financial statements for the year to 31 March 2022.
The Company is dormant and no change in the Company's dormant status is anticipated in the foreseeable future.
There was no activity in the Company 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 2022.
The Directors who held office during the year and up to the date of this report unless otherwise stated were:
G M Richardson (appointed
17 June 2021
)
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R Upton
(resigned
30 April 2022
)
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J G Christmas
(appointed
27 May 2021
, resigned
31 March 2022
)
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M O Shepherd
(resigned
19 June 2021
)
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M S Weiner
(resigned
31 May 2021
)
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A D Waldron
(resigned
15 April 2022
)
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U and I Director 1 Limited (appointed 5 October 2022)
U and I Director 1 Limited (appointed 5 October 2022)
The Company has made qualifying third-party indemnity provisions for the benefit of the respective Directors which were in place throughout the period and which remain in place at the date of this report.
Small companies exemption
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In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
Leigh McCaveny, for and on behalf of LS Company Secretaries Limited
Company Secretary
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ECC INVESTMENTS LIMITED
REGISTERED NUMBER:
02772969
BALANCE SHEET
AS AT
31 MARCH 2022
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Amounts due from Group undertakings
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Amounts owed to Group undertakings
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For the year ended 31 March 2022 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.
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 financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
C Lund, for and on behalf of U and I Director 1 Limited
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The notes on pages 3 to 6 form part of these financial statements.
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ECC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
ECC Investments Limited (the "Company") is a private limited company and is incorporated, domiciled and registered in England and Wales (Registered number: 02772969). The address of its registered office is 100 Victoria Street, London, SW1E 5JL.
2.
Accounting policies
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Basis of preparation of financial statements
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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 2022. The financial statements are prepared in Pounds Sterling (£).
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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 the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙
the requirements of Section 7 Statement of Cash Flows;
∙
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙
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 2022 and these financial statements may be obtained from its registered office at 100 Victoria Street, London, SW1E 5JL.
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Amounts due from Group undertakings
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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.
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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.
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ECC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2.
Accounting policies (continued)
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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 period ended 31 March 2022 and consequently no Statement of Comprehensive income has been disclosed.
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Cash and cash equivalents
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Cash and cash equivalents comprise cash balances, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or fewer.
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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.
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Amounts due from Group undertakings
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Amounts due from Group undertakings
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The unsecured amounts due from Group undertakings are interest free, unsecured, repayable on demand and with no fixed repayment date.
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Cash and cash equivalents
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ECC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Amounts owed to Group undertakings
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Amounts owed to Group undertakings
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The unsecured amounts due to Group undertakings are interest free, unsecured, repayable on demand and with no fixed repayment date.
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ECC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Allotted, called up and fully paid
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2,890,002
(2021 -
2,890,002
)
ordinary
shares of £
1.00
each
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2
(2021 -
2
)
ordinary A
shares of £
1.00
each
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96
(2021 -
96
)
Partcipating preference
shares of £
1.00
each
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The immediate parent company is Development Secutiries (Investments) PLC.
On 14 December 2021, LS Development Holdings Limited acquired 100% of the share capital in U and I Group Limited (formerly U and I Group PLC). With effect from this date and as at 31 March 2022, the ultimate parent company and controlling party of ECC Investments Limited was Land Securities Group PLC. This is the largest parent company of the Group to consolidate these financial statements.
Consolidated financial statements for the year ended 31 March 2022 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.
All companies are incorporated in Great Britain and registered in England and Wales.
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